That's  me ;-)

Economics & Statistics

 Winter term 2023/24 - 22 January 2024
ECONOMICS I -- Introduction to Economics, National Accounting and Microeconomics -- EFA 3rd semester WS 2023/24

Basic Information

  • The assessment is a Learning Portfolio. Please klick here for more information about the Assessment and its parts,
    The tests take place at the end of the second block = Tuesday 13:00 (available until 13:30, work-time 20 minutes)
    .
    Please download the Reader 2023
  • Please recall: We formed 5 houses for the house cup (Kahoots) and groupwork in Module exercises and around 10 teams of 2-3 students presenting a case study about one chapter.
  • Klick HERE for further information about the presentation
    - please recall that we discussed how to find academic literature last semester: at the library databases like - EconLit, the OECD iLibrary, the Web of Science - also helpful is EconBiz at the ZBW. (VPN needed)!
    -> in order to prove that you used a literatur management system, you have to share your Zotero group with me (or another system)
  •  What makes a good presentation? (to be dicussed in class)
  •  The evaluation (grade) of the presentation will focus especially on this and on the discussions you start and moderate during or after your presentation.
  •   If you want to present an Individual Assessment it has to be proposed not later than 18 December.

Interactive Participation

Preliminary schedule:

  

No week date: presentation Unit - topics (Preliminary Schedule) Additional information Material
-
all

Outlook:

Current public debates about economic Policy Issues

On Nov 8 2023 the Council of Economic Experts published its annual report 2023/24:

Overcoming sluggish growth – investing in the future

Weitere Infos zum Thema (in German):
- Übersicht: Konjunkturprognosen für Deutschland - Die Vorhersagen der Wirtschaftsschätzer (Tagesschau)


Joint Economic Forecasts (english)

 On September 28, the Joint Economic Forecast Autumn 2023 was published:

Purchasing power returns
- political uncertainty high

1
1

17 Oct

 

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)

(ggf. Einstieg auf Deutsch mit EFA-Themen:
- eure Fragen
- Studienkommission
- Symposium
- wer noch nicht hat, bitte an der unverbindlichen Vor-Abfrage für die Auslandsstandort 2024/25 teilnehmen, Danke).

Reader 2023

- Welcome.ppt
- "Basic Concepts"
- Economics @ Wikipedia
 
- Social market economy (explainity® explainer video)

2
1
18 Oct  

Basic Concepts of Economics
- Goals in Economics and Economic Policy
- Economic systems & Objectives of Economics / Economic Policy

Hierarchy of goals in market economies
- "Wall Street" @ Wikipedia

- See also the
quotations of T. Friedman
houses: 
Homework for next week ( -> see
table below)
3
2
24 Oct

(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:
       Peter-G

Basic Concepts of Economics
- Goals in Economics and Economic Policy
- Economic systems and Objectives of Economics / Economic Policy


Begg & Ward
Chapter 1: Economics for Business

Please recall that for today Mankiws: "Problems and Applications" are due (see table below)

Recall our discussion from last semester:

Literature Management System -> ZOTERO
- Links Link Uni Bremen, Studytools
- Quick start guide
- Zotero Tutorial (video)   Important: -> please install the Zotero app and the Zotero Connector for your browser !!

4
2
25 Oct   Begg & Ward
Chapter 1: Economics for Business

(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.
             They have to be academic sources!

* => if you didn'd do up to now, select your chapter

- EconLit

-> EconBiz.de -- Find Economic Literature (Service of ZBW) - Research skills:
  - Guided Walk - Video-Course - Academic-Career-Kit - Guides:
     + "Write your best paper" – a guide to academic writing
          for economics and business students (PDF-Guide)
     + Guidelines: Search and Evaluate Scholarly Literature
     + Guidelines: Citation (APA style) [pdf; 280 KB]

- OECD iLibrary: http://www.oecd-ilibrary.org/
- Web of Science: http://isiknowledge.com/wos

5
3
31 Oct

no class

regional holiday

 

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

6
3
1 Nov

  Section II: Understanding Markets   - 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 and 2 (as far as discussed) - you find an expample (pre-) test in AULIS
7
4
7 Nov

Test 1
(last 20 minutes
in class!!)

- Chapter 2: Consumers in the Market Place
       ->   ELASTICITIES
(2)

 

Presentations:

8
4
8 Nov
presentation 2
- Chapter 3: Firms in the Market Place   - "The Production Process"
see also the Excel file with some Figures from the book
9
5
14 Nov


Individual Assessment From Silk Road to Belt and Road

- Chapter 3: Firms in the Market Place    
10
5
15 Nov - Chapter 4: Markets in Action     Topics of test 2 (preliminary): (still) 10 Principles of Economics,
Begg & Ward chapter 2 to 3
(parts discussed in class up to 14 Nov)
11
6
21 Nov

presentation 3

Test 2

- Chapter 4: Markets in Action      
12
6
22 Nov  

Section III: Competition and Profitability

- Chapter 5: Market structure & Firm Performance (cont'd)
Competition, Monopoly and the public interest (welfare)

 

13
7
28 Nov

presentation 4

- Chapter 5: Market structure & Firm Performance (cont'd)
Perfect Competition

   
14
7

29 Nov

presentation 5

- Chapter 5: Market structure & Firm Performance (cont'd)
Monopoly

   
15
8
5 Dec

Test 3

- Chapter 5: Market structure & Firm Performance (cont'd)

 

Topics of test 3 (preliminary): Begg & Ward chapters 2 (only elasticity), 3, 4 and the parts of ch. 5 discussed in class up to now)

16
8

6 Dec

Competition, Monopoly and the public interest (welfare)
Competition, Monopoly and the public interest (welfare)

 

 

17
9
   12 Dec

presentation 6

- Chapter 6. Strategic rivalry
-> Oligopoy and Game Theory
Movie "A beautiful Mind" about John F. Nash:     "the best result will come if everyone does what is best for himself ... and the group" (bar scene)
In memoriam: - 'Beautiful Mind' mathematician John Nash killed in crash
- "Split or Steal" and "From Stealing to Trust"

Bundeskartellamt - Control of abusive practices - Ban on cartels
Information brochure: Effective cartel prosecution - Benefits for the economy and consumers - Leniency Programme
Deutsche Bahn AG to make changes to ticket sales - do you like a coffee?

18
9
13 Dec presentation 7 - Chapter 7. Growth strategies
  Examples: 1) do you like a coffee? 2) Bundesliga 3) cars & steel 4) Deutsche Bahn AG to make changes to ticket sales
19
10
     19 Dec

Test 4

- Chapter 8. Governing business Information about the
-> Presentations and debates of one alternative economic approach by the houses in January

Topics of test 4:
Begg & Ward chapter 5: Market Structure, Performance, Profit and Welfare in PC and Monopoly.
Chapter 6: Oligopolies, Game Theory
20
10
20 Dec

Section IV: Basics of MACROeconomics

- Chapter  9: An introduction to the Macro Economy

  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".
Texts of the videos

... and why not enjoy: Deck the Halls with Macro Follies

21
11


HAPPY
new Year
2024
!

9 Jan

12:00
presentation 8
presentation 9

- Chapter 10: Measuring Macroeconomic Variables and Policy Issues

German National Accounting @DeStatis:
- Important economic indicators & publications (links unfortunately killed by Destatis)

- Eurostat with National Accounts
- Source OECD & ILibrary - The OECD's Online Library of Statistical Databases, Books and Periodicals (accessible from the campus net - or via VPN)

22
11

10 Jan

presentation 10

Individual Assessment „Economies and their political decisions“

- Chapter 10: Measuring Macroeconomic Variables and Policy Issues

- current figures: National Accounts at a glance (in German: "Wichtige Zusammenhänge im Überblick")

- GDP to NNY and summary of National Income accounting
23
12
16 Jan Reading week

Now that we discussed National Accounting (GDP, ...) we'll ask ourselves:

Is GDP really an apt measure of Welfare
...quality of life, sustainable development ...?

-> Measuring WELFARE & SUSTAINABILITY

The German Statistical Office (DeStatis) publishes Environmental indicators and also an "Indicator Report - Sustainable Development in Germany" + "Indicator Report 2021: Sustainable Development in Germany"

24
12
17 Jan Reading week - How can countries measure the well-being of their citizens? (TED institute)   Topics of test 5:
Chapters 9 and 10 - Tagets of Economic Policy, GDP: The Circular Flow of Income; Measurement of GDP, other macroeconomic issues
25
13
23 Jan

presentation X - Austerity and ... trickle down

Individual Assessment „Economics of Happiness"
?? Individual Assessment "Market Trends Research" ??

*** Evaluation ***
please let me know, what you think about this class
(until 24 January)

Test 5

 

 

 

Presentations and Debates:

* Charlie: Feminist Economics

 

 

 

please upload your presentation - as usual - the day before up to 16:00 !

"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 ...

-> Report of the commission on the measurement of economic performance et social progress 2009
- Joseph Stiglitz - Problems with GDP as an Economic Barometer
- Amartya Sen: Beyond GDP, measures of welfare and sustainability (2/7 ..)
 

Sustainable Development Goals - United Nations Development Programme

The Sustainable Development Goals (SDGs), also known as the Global Goals, were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity. The 17 SDGs are integrated — they recognize that action in one area will affect outcomes in others, and that development must balance social, economic and environmental sustainability.

26
13
24 Jan  

Presentations and Debates:

* Alfa: Behavioral Economics

* Bravo: Wellbeing Economy

ECG Economy for the Common Good (GWÖ):
- What if the common good was the goal of the economy? | Christian Felber | TEDxVienna (basic idea up to minute 9:50)
- ECG webpage - have a look around
[in German: . Gemeinwohl-Matrix 5.0,]
- The Common Good Product: CGP instead of GDP
- The Common Good Matrix
- Companies in different countries

Doughnut Economics (Ways to Think Like a 21st-Century Economist)
- Why it's time for 'Doughnut Economics' | Kate Raworth | TEDx
- more information on: www.kateraworth.com
- Re-Writing (Neo-Liberal) Economics

OECD: "Beyond GDP" Joseph E. STIGLITZ, Jean-Paul FITOUSSIand Martine DURAND

27
14
30 Jan

 

Test 6

Presentations and Debates:

* Delta Doughnut Economics

* Echelon Post-Colonial Economics

Thanks to the 5 people participating in the Evaluation!

Other Alternative Economic Approaches

Fridays, Economists, Scientists ... for Future: Facts + Statements of Scientists + Sketchnotes + Skeptical Science Global Warming & Climate Change Myths + The Consensus Handbook +
+ New Economics Foundation + (you can also check this list by ECG)

Degrowth – what's behind the economic theory and why does it matter right now?
Niko Paech: Grundzüge einer Postwachstumsökonomie

Economics of Happiness / Glücksforschung
Karlheinz Ruckriegel

and many more ideas and topics please !

Topics of test 6:
Alternative Economic Approaches
28
14

31 Jan

  Outlook: Macroeconomics and Economic Policy

Fiscal and Monetary Policy:

- Chapter 13: Expenditure and Fiscal Policy
- Keynesian Cross & the Multiplier

- Chapter 14: Money, Banking and Interest
  - Money and the Banking system

 Main Source : European Central Bank ECB, Educational Sources:
- European Monetary Union explained
- The European Centrag Bank (EU Parlament)
- The History of the European (monetary) integration
- 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

 

The "Module Exercise" takes place every week <45-90 minutes every week integrated into our class> We formed 5 HOUSES which are assigned tasks for the next session and is expected to present the results (=prepared as joint homework)
The module exercise is part of your individual workload, it isn't marked and the lecturer won't deliver new information; he will only moderate the sessions. The tasks of the module exercise normally refer to the topics discussed in the last week(s). The numbers in the table below normally refer to the chapter in the textbook (Sloman: "End of chapter questions"). At the end of the module exercise there is room for general questions about the topics, terms, ... .

The exercises discussed in the module exercise are relevant for the tests. If the students deliver results or approaches to the solution, we'll discuss the correct solution in class. If no approaches are presented, the task will not be discussed in class but nevertheless stay relevant for the exam.

Houses:

Date:

All students

Alfa
Bravo
Charlie
Delta
Echelon
 

Names of students:
please register in AULIS

Eileen
Dawn
Emma Kü
Jimin
Timon
Pierre

Amelie
Lea
Finja
Ale
Lamin
Oscar

Tom
Jannis
Moufid
Melanie
Luke
David

Cihan
Choxky
Talha
Emma Kl

Gleb
Mesud
Tyron
Umar
Hoji
Etienne
w1 - 17 Oct (in class)

Mankiws "Principles" & - presentation in class:
-> What's it about?
-> own example

1-3
4-6
7-8
9-10
Obama text

please prepare for:

w2 - 24 Oct

 

Mankiw: "Problems and Applications"
reminder: presentation by the houses (=homework) -> please upload your documents to AULIS

13-16

+ No. 17 ONE example !

10-12

+ No. 17 ONE example !

4-6

+ No. 17 ONE example !

1-3

+ No. 17 ONE example !

7-9

+ No. 17 ONE example !


w3 - 31 Oct

National Holiday
=> "housework individual and voluntary.

 End of Chapter questions from Begg/Ward
(chapter 1) in class

 2,3
4
5
6,7
8
w4 - 8 Nov
End of Chapter questions from Begg/Ward
(chapter 2)
-> all students: Exercise 1 and 2

No. 17 ONE example !

-> all students: Exercise 1 and 2

-> all students: Exercise 1 and 2

No. 17 ONE example !

-> all students: Exercise 1 and 2

-> all students: Exercise 1 and 2 -> all students: Exercise 1 and 2
w5 - 15 Nov
End of Chapter questions from Begg/Ward
(chapter 3)
-> 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
w6 - 22 Nov
 End of Chapter questions from Begg/Ward
(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)

w7 - 29 Nov   End of Chapter questions from Begg/Ward
(chapter 5)
 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
...            
             
NN

Review of old exams

Example of a final test (30 min)

Review of old exams, e.g. the exam of Microeconomics WS 14/15        
NN YOUR questions          

 

Top

Links:

 Quotations form the book of Thomas Friedman: "The World is flat":
- For some, particularly among the older generations, this was an unwelcome transformation. Communism was a great system for making everyone equally poor. In fact, there was no better system in the world for that than Communism. Capitalism made people unequally rich, and for some who were used to the plodding, limited, but secure Socialist lifestyle--where a job, a house, an education, and a pension were all guaranteed, even if they were meager--the fall of the Berlin wall was deeply unsettling. (p. 51/52)
- ... to some degree Mikhail Gorbachev's hapless efforts to reform something that was unreformable brought communism to an end. But if I had to point to one factor as first among equals, it was the information revolution that began in the early- to mid-1980s. Totalitarian systems depend on a monopoly of information and force, and too much information started to slip through the Iron Curtain, thanks to the spread of fax machines, telephones, and other modern tools of communication. (p 54)

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Hochschule Bremen
Fachbereich Wirtschaft
VWL und Statistik