Rechnungswesen,
Betriebswirtschaft
und Volkswirtschaft- echt scharf!
Competences: detailed in English
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In the 1st term of studying economics the students can |
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I n t h e F i e l d B a s i c Q u e s t i o n s o f P o l i t i c a l E c o n o m i c s: |
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- outline the key tasks and the subsections of political economics, |
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- exemplify the importance of models – for the explanation of complex economic interrelationships, |
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I n t h e F i e l d P r o s p e r i t y a n d Q u a l i t y o f I i f e: |
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- outline the significance of GDP-growth for the prosperity of an economic system as well as critically reflect the limitations of this indicator for measuring the prosperity of a country (social and ecological perspective). |
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- explain economic parameters. |
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I n t h e F i e l d E c o n o m i c T h e o r i e s a n d E c o n o m i c S y s t e m s: |
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- compare different market systems covering a spectrum ranging from free to eco-social market economy |
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- exemplify the specific features of the Austrian economic system, |
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- explain the policy-makers, objectives and task fields of economic policy and present the possibilities for action of the individual based on examples. |
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I n t h e F i e l d M a r k e t a n d P r i c i n g: |
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- illustrate the model of supply and demand and its limitations. |
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I n t h e F i e l d L a b o u r a n d S o c i a l W e l f a r e: |
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- explain frequently used methods for the elicitation and calculation of unemployment figures, |
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- differentiate important causes of unemployment and explain as well as argue significant consequences of unemployment for the individual and for the society, |
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- analyze and argue the connection between causes of unemployment and the instruments designed to fight unemployment. |
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I n t h e F i e l d Business Cycles |
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- list the measurement parameters to define the prevailing economic conditions, outline the main reasons for cyclical fluctuations and describe instruments of economic policies, |
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- distinguish between supply-oriented and demand-oriented economic policy and assign individual measures to both concepts, |
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In the 2nd term of studying economics the students can |
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I n t h e F i e l d M o n e y a n d F i n a n c i a l E c o n o m y: |
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- describe the stages of money development, the stages of appearance, the functions, the characteristics of money, the money creation process of commercial banks as well as the causes and consequences of price increases, |
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- outline the connections between monetary policy and inflation and assess important instruments of monetary policy critically, |
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- exemplify the central objectives, the tasks and organs of the European Monetary Union, its monetary policy and instruments, |
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- outline the link between the financial market and the real economy. |
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I n t h e F i e l d B u d g e t: |
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- outline budget preparation as well as the effects of budget policy on the long-term development of a national economy. |
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I n t h e F i e l d E u r o p e a n E c o n o m y: |
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- name and explain important milestones in the development of the European Union, its most important institutions and its tasks, |
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- describe and reflect the importance of the European Union for Austria and see where the future challenges for the European Union will be. |
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I n t h e F i e l d I n t e r n a t i o n a l E c o n o m y: |
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- explain the term, the causes of globalization and argue as well as assess the central advantages and disadvantages of globalization, |
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- outline and assess the tasks of the most important international economic organizations. |
Economic Games
Economics in the news:
Blogs:
Nobel Price Laureate Paul Krugman: NY Times, Robert Shiller,...
https://www.nytimes.com/column/paul-krugman
Nobel Price Laureate Joseph Stiglitz and others: Project Syndicate
https://www.project-syndicate.org/section/economics
Critical Cambridge Economist: Ha Joon Chang in the Guardian
https://www.theguardian.com/profile/hajoonchang
50 things that made the modern Economy
https://www.bbc.co.uk/programmes/w3csv3gv#play
Right and Left side of Economics
Neo liberal think tank: Mises Org
https://www.youtube.com/watch?v=6e_8H7E3cTo
Weekly American radical economist Richard Wolff
https://economicupdate.podbean.com
Ron Paul (Tea Party vs. Paul Krugman)
https://www.youtube.com/watch?v=AJgzx88RgEw
Newspaper & Magazins:
The Guardian
https://www.theguardian.com/global-development
The local: Austrian news in English
Business and Economic New Channel Bloomberg
https://www.bloomberg.com/europe
The Economist
The Economics Book
http://www.btng.education/uploads/9/3/9/2/9392622/economics.pdf
Austrian News
Die Presse/Economist
https://diepresse.com/home/wirtschaft/index.do
Der Standard/Wirtschaft
https://derstandard.at/Wirtschaft
Der Kurier/ Wirtschaft
Businessart
http://www.businessart.at/wohlstand-fuer-alle-utopie-oder-theoretisch-moeglich
00 Introduction
Learning activity 1: Robinsons
Learning activity 2: Vocab session: Introcution
Learning activity 3 Team teaching: What do we know already about economics?
Learning activity 4: Concept Maps: Introduction
What is climate change and what can i do?
AA:
Concept Map: What is climate change? (use graphics do show)
What do humans have to do with it?
What are the consequences of climate change (be specific)
How does the world look like in 2100?
What can be done, especially by you?
A good day has 100 Points
Kinder sind vom Klimawandel am stärksten betroffen.
Vorab session: Examples
Muster - Spielanleitungen
Cool Working instruction for further sessions:
01 Basic1:
key words: needs, wants, micro, macro, scarcity, Production possibility curve, opportunity cost, min. max Principle, circular flow model and its conflicts
Circular Flow Model
https://www.youtube.com/watch?v=2wM0jHL6TQs&list=PLKcwEC4jDwiOt_ar5QlCE2MtfFTHkkzgg&index=6&t=0s
Production Possibility Curve
https://www.youtube.com/watch?v=O6XL__2CDPU
https://www.youtube.com/watch?v=tW4G5IPpzFY&list=PLjtHdTsAECMISeMDZI3BZ2OubRJivmPKF&index=3
Online Game PPF
https://www.reviewecon.com/games-activities/production-possibilities
02 Basic 2:
key words: key measures: GDP, issues with gdp inequality, inflation, unemployement rate, Gini Coefficient, sustainability, other measures
Growth of the Economy: GDP, rate of Unemployment, rate of Inflation
https://www.youtube.com/watch?v=3GTgniuxA50&index=6&list=PLjtHdTsAECMISeMDZI3BZ2OubRJivmPKF
Bob Kennedy on GDP Issues: environment, sustainability,...
03 Economic Systems:
AA: Choose one Economic System and make a short description by 17.6.2020:
Justice, Rawls, Nozick, etc. Basic Systems, examples for, Economists (Platon, Aristotle, Smith, Marx,) Capitalism critique
What is justice?
https://www.youtube.com/watch?v=H0CTHVCkm90
Types of Economic Systems
https://www.youtube.com/watch?v=5xgwYRX19VU
Nixon und Khrushchev at the American Fair in Moscow 1959
Property rights and health care systems
https://scilogs.spektrum.de/gute-geschaefte/wie-laesst-sich-privateigentum-begruenden/
Soll das österreichische Gesundheitssystem privat organisiert werden?
https://www.youtube.com/watch?v=l4G1d7c-KGw
04 Market 1
Supply Curve, Demand curve, Market Model, Assumptions, shifts of curves, shifts on curves
Indiana Jones and the market
https://www.youtube.com/watch?v=RP0j3Lnlazs&index=4&list=PLjtHdTsAECMISeMDZI3BZ2OubRJivmPKF
MR University: Demand curve, consumer surplus, shifts, supply curve, producer surplus, shifts,Market Equilibrium
https://www.youtube.com/watch?v=outYDTq-jPc
05 Market 2
Elasticity, market forms, Monopols, Market failure, competition law, EU national, cartels
Elasticity & Inelasticy
https://www.youtube.com/watch?v=HHcblIxiAAk
Market forms & Market failure: negative externalities, oligopolists, lemons
https://www.youtube.com/watch?v=FBjFDtH-iZM&list=PLjtHdTsAECMISeMDZI3BZ2OubRJivmPKF&index=7
https://www.youtube.com/watch?v=JMq059SAQXM&list=PLjtHdTsAECMISeMDZI3BZ2OubRJivmPKF&index=8
https://www.youtube.com/watch?v=WEwRUmMRYsI
06 Business Cycles and Financial/Economic crises
Business Cycle, Measurement, Economic Crises, unemployment, business cycle Policies, Supply Side Economics, Demand Side Economics (Keynesian Economics)
Macro Economics & Cars
https://www.youtube.com/watch?v=SYFYla1H7KE&index=5&list=PLjtHdTsAECMISeMDZI3BZ2OubRJivmPKF
Business Cycle
https://www.youtube.com/watch?v=vnUo82ZCo5s
Find out about Keynesianism Economics (Demand Side Economics) and Supply side economics
https://www.youtube.com/watch?v=tZvjh1dxz08
https://www.youtube.com/watch?v=xKGtmzLP8gw
Online Game
Casestudies: Crisis of Capitalism (VLC player,...)
Chose 1 crises and make 1-2 page description of the respective crises. In addition make a short comparison to the corona crises. Where are similarities, where are differences?
1929 The great depression US and Europe/Austria
1638 Tulip crisis Netherlands
1970 - 1990 ... Deregulation of international Financial Markets / East Asia
2008 ... Global financial crisis 2008 and debts of US households
Austrian part of the global financial crisis: Hypo Alpe Adria
2020 Corona Crises
07 Employment, labor market, social policies
Occupation and earnings, trade unions, labour markets, unemployment, how to fight unemployment,
Social Policies: Health insurance, ...
Global Financial Crises 10 years after, what happened, Financialisation, lessons learned and evaluation
09 Money
Development, Institutions, Euro, ECB, Monetary Policy, inflation, deflation
10 Role of government, Tax, Budget
Budget, Tax System, Economic policy: government, Macro objectives, demand side, supply side,
11 Europe
Europe: Development, since 1960, Institutions, Policies, Future of Europe
State of the Union: Juncker September 2018
European Parliament
The European Council and the Council of the European Union
European Council sets the directions and priorities.
It does not negotiate or adopt EU laws.
It is made up from the heads of states or government from each EU country.
It meets at least 4 times a year.
Meetings are chaired by the president of the European Council, selected every 2,5 years (currently: Donald Tusk).
Council of the European Union: negotiates and adopts EU legislation together with the EU Parliament.
It is made up from national ministers grouped together by policy area (national education ministers, finance ministers)
It develops and adopts policies, concludes agreements and budgets.
Presidency rotates among the member states every 6 month
Council of Europe in Strasbourg is not an EU institution.
It consists of 48 member states including the 27 EU states.
This is the continents leading human rights organisation.
European Commission: The government of Europe
How does the EU pass new laws?
Österreichische Gesellschaft für Europapolitik
12 International Economics, Globalisation, ...
a) Globalisations, +/-, international organisations (WTO,...), trade
b) development countries, developed countries
c) balance of payment and international trade, trade wars
Why do we trade, what are advantages?
What is comparative advantage?
Globalisation
Tarifs & Protectionism
Arguments against international trade
History of economic thought
International Trade & Economic development
AA: Watch the videos below and write a short paper on International Trade & Economic development including:
- What does trade have to do with economic development?
- Explain the reasons, why some countries are Ruch and others not.
- What are the main factors, which influence economic growth?
- Which role play the key global trade organisations (WTO...) and what are the key aspects of fair trade?
- What is Hajoon Changs perspective on free trade?
13 Sustainability
Future of learning
Fake News - Spam Mail
Theories of Economics
Theories of Economics: BBC Documentary > Masters of Money: Karl Marx
Friedrich Hayek
John Maynard Keynes
Game Theory
Behavioral Economics
Economical Theories: Economics is for everyone...
