![]() Prof. Dr. Peter Schmidt |
Introduction
to ECONOMICS (Micro
& Macro
AWS) |
23 May 2023 |
Tentative Schedule:
Basic Material / Links:
|
No | week |
date | present. | Unit - topics (Preliminary Schedule) | Material |
1 | 1 |
12
April |
Section I: Introduction - 10 Principles of Economics (Mankiw) [Reader] (In classs: Teamwork
about Mankiws
"Ten Principles of Economics" and part
from B. Obama "The Audaciy of Hope" (p. 176-184) (also see
the debate in
the Economist) |
houses: -
"Basic Concepts" |
|
2 | 1 |
13
April |
Basic
Concepts of Economics |
- Hierarchy
of goals in market economies - "Wall Street" @ Wikipedia - See also the quotations of T. Friedman |
|
3 | 2 |
19
April |
(from today on we (houses) play a Kahoot quiz) register to Kahoot
using your (nick) name followed by the first letter of your house, e.g:
|
Basic
Concepts of Economics
|
Use the class time for your homework and preview next session: + Mankiw: "Problems and Applications" (see table below) Literature
Management System -> ZOTERO Important: -> please install the Zotero app and the Zotero Connector for your browser !! |
4 | 2 |
20
April |
We'll work with ZOTERO, please install the app and the Zotero Connector for your browser -> To access the databases from outside the university you need a VPN connetion |
(Presentation of the) possibilities of the University Library: Econmics & Business Studies, Selected Resources - Faculty 1: International Business, Data Bases
Exercise:
For your case study / presentation* you need to use - and quote correctly
of course - different sources about the basic approaches / assumptions
of Economics and esp. your topic. * => if you didn'd do up to now, select your chapter |
Let's Have a look around at the SuUB: University Library: Econmics & Business Studies, Selected Resources - Faculty 1: International Business, Data Bases - EconLit ->
EconBiz.de -- Find
Economic Literature (Service of ZBW)
- Research skills: - OECD iLibrary:
http://www.oecd-ilibrary.org/ |
5 | 3 |
26 April | topics of last sessions continued | ||
6 | 3 |
27 April |
Begg
& Ward Chapter 1: Economics for Business |
||
7 | 4 |
3
May |
|
Section
II: Understanding Markets |
Important: The test can only be taken IN CLASS (I'll take a participants list, please bring your student ID), if you take it from another place, it doesn't count |
8 | 4 |
4
May |
Test
1 |
-
Chapter 2: Consumers in the Market Place -> ELASTICITIES (1) |
Topics
of test 1 (preliminary): Introduction, basic questions,
objectives (hierarchy of goals), 10 Principles of Economics, chapter 1 |
9 | 5 |
10
May |
-
Chapter 2: Consumers in the Market Place - Chapter 4: Markets in Action |
Presentations: |
|
10 | 5 |
11 May |
- Chapter 4: Markets in Action -
(we will _not_ discuss chapter 3: Firms in the Market
Place ) |
-
"The Production Process" |
|
11 | 6 |
17
May |
Test 2 |
Section III: Competition and Profitability - Chapter 5: Market
structure & Firm Performance (cont'd) |
Topics
of test 2 (preliminary): (still) 10 Principles of Economics,
|
12 | 6 |
18
May |
no
class |
national holiday |
|
13 | 7 |
24
May - online - |
presentation 4 |
- Chapter 5: Market
structure & Firm Performance (cont'd) |
Bundeskartellamt
- Control
of abusive practices - Ban
on cartels Movie "A
beautiful Mind" about John
F. Nash: "the best result will come if
everyone does what is best for himself ... and the group" |
14 | 7 |
25
May - online - |
presentation 5 |
- Chapter
6. Strategic rivalry -> Oligopoy and Game Theory |
|
15 | 8 |
31 May |
presentation
6 Test 3 |
- Chapter 6. Strategic rivalry -> Oligopoy and Game Theory (No class
discussion of: |
Topics of test 3 (preliminary): Begg & Ward chapters 2 (only elasticity), 4 and the parts of ch. 5 discussed in class up to now) |
16 | 8 |
1 June |
presentation 8 presentation 3 |
Section IV: mAcroeconomics - Chapter 9:
An introduction to the Macro Economy |
|
17 | 9 |
7 June |
- Chapter 9: An introduction to the Macro Economy - Chapter 10: Measuring Macroeconomic Variables and Policy Issues (FYI: chapters 11 and 12 are not part of this class) |
German National
Accounting @DeStatis: - Eurostat
with National
Accounts |
|
18 | 9 |
8 June |
presentation 9 |
- Chapter 10: Measuring Macroeconomic Variables and Policy Issues Today we'll discuss National Accounting (GDP, ...) and afterwards ask ourselves: Is
GDP really an apt measure of Welfare ->
Measuring WELFARE &
SUSTAINABILITY |
(Recall that we don't discuss chapter 11 and 12 as they are part of another class)
|
19 | 10 |
14
June |
presentation 10
Test 4 |
ECG Economy
for the Common Good (GWÖ): Doughnut
Economics (Ways to Think Like a 21st-Century Economist) OECD: "Beyond GDP" Joseph E. STIGLITZ, Jean-Paul FITOUSSIand Martine DURAND |
- How can countries measure the well-being of their citizens? (TED institute) "Monitoring
economic performance, quality of life and sustainability"
by the German Council of Economic Experts in association with the french
Council of Economic Analysis - Joint Report 2010 requested by the Franco-German
Ministerial Council to Chancellor Mrs. Angela Merkel and french President
Nicolas Sarkozy (deutsche
Übersetzung: Wirtschaftsleistung,
Lebensqualität und Nachhaltigkeit: Ein umfassendes Indikatorensystem).
This report (and request) was based on the ... The German Statistical Office (DeStatis) publishes Environmental indicators and also an "Indicator Report - Sustainable Development in Germany" + "Indicator Report 2021: Sustainable Development in Germany" |
>> | >> |
Globalisierung am Ende - Zeit für Alternativen Arbeitsgruppe Alternative Wirtschaftspolitik (auch: "Memorandum-Gruppe" bzw. "Memo-Gruppe") -> https://www.alternative-wirtschaftspolitik.de Auf dieser Webseite finden sich auch akutelle Veröffentlichen zur derzeitgen (Wirtschafts-) Lage |
From Pandemic to Energy Crisis: Economy and Politics under Stress |
Managing the energy crisis in solidarity, shaping the new reality Weitere Infos zum
Thema (in German): |
|
20 | 10 |
15 June |
Section
V: Macroeconomic Policy - History of economics
thoughts and policy |
||
21 | 11 |
21
June |
- Chapter 13: Expenditure
and Fiscal Policy |
|
|
22 | 11 |
22
June |
- Keynesian Cross
& the Multiplier |
||
23 | 12 |
28
June |
presentation 13 Test 5 |
The Multiplier,
Balanced Budget
(en) / Haavelmo-Theorem
(de) |
Topics
of test 5: Tagets of Economic Policy, GDP development, The Circular Flow of Income; Measurement of GDP (=review chapter 9/10) Alternative economic approaches (recommendations Stiglitz commission, ECG, Doughnut Economics) Begg & Ward chapter 13 (parts discussed in class) = Keynesian Cross, mulitplier |
24 | 12 |
29
June |
- Chapter 14: Money,
Banking and Interest ***
Evaluation *** |
Main
Source : European Central Bank ECB,
Educational
Sources: - European Monetary Union explained - The European Centrag Bank (EU Parlament) - The History of the European Central Bank - European Integration (ECB presentation used in class) - Monetary Policy Instruments (TARGET 2 = Trans-European Automated Real-time Gross Settlement Express Transfer System) + Definitions of monetary aggregates - MFI information - Inflation Monitor - see also: Leitzins.info |
|
25 | 13 |
5
July |
presentation
14 |
- Monetary Policy: the European Central Bank ECB |
Topics
of test 6: |
26 | 13 |
6 July |
- Monetary Policy: the European Central Bank ECB |
Some Videos "Fight
of the Century" / Fear
the boom and the bust - "Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem - Fight of the Century: Keynes vs. Hayek Round Two and more information like "The Tale of the Dueling Economists". |
|
27 | 14 |
12
July |
presentation 15 Test 6 |
Chapter 15: Inflation, Output and Economic Policy |
Review and
conclusion + YOUR questions |
28 | 14 |
13
July |
presentation 16 |
Chapter 16: Supply Side Policies & Economic Growth |
Video about economic approaches: "60 Second Adventures in Economics" |
House: Date: |
All
students |
Alpha |
Bravo |
Charlie |
Delta |
Echo |
Foxtrot |
|
Talea Louisa Nicole Khaldoun Mahmoud Abdul Hail Abdikafi |
Jenny Julian Thorge Jonas David Yishhak Khoi |
Paul Alina Calvin Berkan Zerin Nils Imke Mirko |
Lars Jan Noah Michael Justin Momoka Merle Shuto |
Laura Nina Klaudia Celina Celine Mona Lea Enie |
Walid Leo Leon Nikita Hussein Rayan Ghassan Amina |
|
week 1 | no tasks, but Mankiws "Principles" in class: - name and
describe your principles / text |
1-2 |
3-4 |
5-6 |
7-8 |
9-10 |
Obama-Text |
week 2 |
Practise to use literature-databases (EconBiz,
EconLit)
properly: research 3-5 articles from academic journals |
+
literature research: your chapter or |
+
literature research: your chapter or |
+
literature research: your chapter or |
+
literature research: your chapter or |
+
literature research: your chapter or |
+
literature research: your chapter or |
week
3 (26 April) |
Mankiw: "Problems and Applications": |
15-16 |
13-14
|
10-12 |
7-9 |
4-6 |
1-3 |
week
4 (3 May) |
NO house-work - only the two teams missing last week present their results + we might do some End
of Chapter questions from Begg/Ward |
2,3 |
4 |
5 |
6,7 |
8 |
9 |
week
5 (10 May) |
-> all students: Exercise 1 and 2 | -> all students: Exercise 1 and 2 | -> all students: Exercise 1 and 2 | -> all students: Exercise 1 and 2 | -> all students: Exercise 1 and 2 | -> all students: Exercise 1 and 2 | |
week
6 (17 May) |
no house work, we'll work together on exercises for chapter 4 | ||||||
... | Question 2 Exercise 2 (a) |
Question 3 Exercise 2 (b) |
Question 6 Exercise 2 (c) |
Question 8 Exercise 2 (d) |
Question 9+10 Exercise 2 (e) |
Exercise 3 |
|
week
7 (24 May) |
Questions 13 and 12 | Question 10 + Explain, what "creative destruction" is about | Questions 8 and 9 | Questions 6 and 7 | Questions 4 and 5 | Question 3, 1 and 2 | |
Please prepare
this task
about monopoly v. PC |
|||||||
We might do some
old exam tasks in class together... Research the tasks
of the Bundeskartellamt: |
1. Merger control | 2. Ban on cartels | 3. Abuse control | 4. Public procurement | 5. Whistle-blower | 6. Leniency Programme | |
Exercise 2 a - e |
The same task as house Alpha, but use the numbers for Germany |
Exercise 2 f - i |
The same task as house Delta, but use the numbers for Germany |
Exercise 3 |
Refer to figure 9-11 (slide 20 of the ppt), the business cycle. Look at the business cycle for Germany for the last decade and find (or produce) a diagram. Describe the developments you find (boom, recessions, ...) | ||
please prepare for 23 June Critiques of GDP - Measuring Sustainable Development |
In the Report of the "Stiglitz-Sen-Fitoussi commission" on the "Measurement of economic performance and social progress" (2009) the authors deliver 12 recommendations. Each house is requested to present a brief (~ 5 to max 10 min.) summary of two recommendations --------> In the Executive summary each recommendation is described in one paragraph (p.7-18), but you also find more information in the more detailed part of the report or/and other sources. |
Recommendations 1 and 2 |
´Recommendations 3 and 4 | Recommendations 5 and 6 | Recommendations 7 and 8 | Recommendations 9 and 10 | Recommendations 11 and 12 |
question 8 |
questions 5 and 6 | questions 4 | question 3 | questions 1 and 2 | Exercise 2 | ||
All houses please perform a regression analysis for the consumption function for ... (You might find data sources at the Statistische Bundesamt, ECB, IMF, ... There are also some links below. You should use a time series with as many observations as possible. The dependent variable is the final consumption of the households, the independent variable is the disposable income / or national income as a substitute) |
... the USA | ... France | ... Germany | ... England (/ GB) | ... Ireland | ... Spain | |
End of Chapter questions from Begg/Ward (chapter 11) + all students (individually!) please prepare exercise 2 |
questions 1,2 | questions 3,4 | questions 5,6 | questions 7,8 | questions 9,10 | questions 11,12 |
Links:
please let me know if links don't work ++ and especially if you youself
have a good tip for me and your classmates)
Data Sources:
Statistics: