Documentos de Académico
Documentos de Profesional
Documentos de Cultura
Business in Context 2
seminar 1.
Textbook
Acemoglu, D., Laibson, D., List, J.A.
(2016): Economics (Pearson)
Moodle
Check out regularly the Thinking problems
Assessment
50% exam
50% coursework
Midterm test 85%
Continuous in class assessment 15%
5 short quizes on moodle 10%
8:00 am Monday of weeks #3, 4, 6, 10, 12
1 short test in class in week 12 5%
Exam regulation
Absence regulation
Angwin, D., Cummings, S. & Smith, C. (2011) The Strategy Pathfinder: Core Concepts and Live Cases. 2nd ed. Wiley pg 8.
M&B in Context
= crises management
Birth of the field: Great Depression, 1929-33
The word „macroeconomics” first appears in scholarly
literature in the 1940s
Ongoing debate
Little consensus on basics
Schools of thought
Political standpoints
Current Global Issues
Positive economics
Description, analyses, & search for academic
(objective, neutral) explanations
„What are the likely consequences of this?”
“If this happens then that would follow.”
Normative economics
Provide recommendations for policy making
“Whatshould be done in this case?”
Answer depends on subjective goals, values
National output
Total output of an economy
Total output of all firms and markets
Potential output
National output that could be produced if all markets in
the economy achieved an efficient allocation of
resources
Markets in Practice
Macro perspective
Volume of trade, output produced
Performance of the national economy
In Practice
Meso environment
Macro environment
Positive vs. normative approach
Efficiency
Potential output
Market power
5 force framework
The basic question: …
The 5 forces are: …
To do for next seminar