Prof. Dr. J. Franke-Viebach SS Seminar

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1 1 Prof. Dr. J. Franke-Viebach SS 2015 Seminar International Economics Target Groups: - Master in Economic Policy Studies (exam numbers 95811, 95821) topics 4, 5, 7-9, 11-14, - MSc Management und Märkte 2012 (exam number 95837) 16-18, topics 1 3, - MSc. Control. u. Risikomanagement 2012 (exam number 95834) Bachelor of Arts in Economics 2004 (Exam number 95810) topics 1 3, 6, - Volkswirtschaftslehre, Bachelor 2011 (Exam numbers 95817, 95819) 10, 15, 19 Room: Time: Thursday, Start: Thursday, April 9, 2015 (Introduction) ECTS: 8 for foreign short-term students (other students: according to the corresponding examination regulations) Learning outcome: The seminar treats selected topics from the fields of national economic accounting systems and of international trade. The student should thereby acquire a deeper understanding of the issues and the ways these are discussed in the current literature. Method: Each Student is supposed to prepare a seminar paper on one of the topics listed below. The paper should be approximately 15 pages in length for the contents (title page, references etc. extra), using font size 12 of Arial, 1.5 line spacing (footnotes Arial 10 and 1-line spacing); page borders 6.5 cm left, 1.5 cm right, 2 cm top and bottom). The major elements of the paper have to be presented within 35 to 40 minutes in one of the seminar sessions. The paper has to be sent by to me and to the other seminar participants at least two weeks before the corresponding seminar session (an list will be established). The students can apply for topics either by (franke-viebach@vwl.wiwi.uni-siegen.de) or during my office hours. Please respect the usual rules of citation etc.! If you are not used to these rules, you may find an orientation in the following example of a seminar paper: Basic Bibliography: I give bibliographic references for each of the topics (see the list below). The references define the specific aspects which have to be discussed in the paper. The students are expected to look for other references which, e. g., explain some or all of the aspects of a topic more clearly or which contain more recent mpirical evidence.

2 2 Topics For Seminar Papers: Part 1: Topics in National Accounting Systems: Basics and Income Accounting 1. Basics of Aggregate Economic Accounting Systems: Purpose, Economic Agents and Sectors, Economic Objects, Production and Income [April 23: topic has already been assigned to a student!] München, pp 1 8, [not: 2. Flows and Stocks on pp1n] Frenkel, M. / John, K. D. (2006): Volkswirtschaftliche Gesamtrechnung. 6 th ed., München, pp 4 8, [or: 7th ed. 2011]. Nissen, H.-P.(2002): Das Europäische System Volkswirtschaftlicher Gesamtrechnungen. 4 th ed., Heidelberg, pp 3 12, [or 5 th ed. 2013]. Stobbe, A. (1994): Volkswirtschaftliches Rechnungswesen. 8 th ed., Berlin, pp 1 8, 13n, 16 20, Basics of Aggregate Economic Accounting Systems: Stocks and Flows, Transactions, Valuation [April 23: topic has already been assigned to a student!] München, pp 1n, , Frenkel, M. / John, K. D. (2006): Volkswirtschaftliche Gesamtrechnung. 6 th ed., München, pp 9n, [or: 7th ed. 2011]. Stobbe, A. (1994): Volkswirtschaftliches Rechnungswesen. 8 th ed., Berlin, pp 15 n, 43 53, 107n 3. The Circular Flow of Income [April 30: topic has already been assigned to a student!] München, pp Frenkel, M. / John, K. D. (2006): Volkswirtschaftliche Gesamtrechnung. 6 th ed., München, pp 17, [or: 7th ed. 2011]. Nissen, H.-P. (2002): Das Europäische System Volkswirtschaftlicher Gesamtrechnungen. 4 th ed., Heidelberg, pp 12 16, [or 5 th ed. 2013].

3 3 4. The European System of National Accounts (ESA): Methodology [April 30: topic has already been assigned to a student!] München, pp 31 54, European Central Bank (2014): New International Standards in Statistics Enhancements to Methodology and Data Availability. In: Monthly Bulletin August, pp Eurostat (2014): Essential SNA: Building the Basics. Luxemburg, pp b4c5-f2f0d951bc52?version=1.0 Eurostat (2013): European System of Accounts ESA Luxemburg. bc64-40e5-bd40-d17df0c69334?version=1.0 European Commission et al. (2009): System of National Accounts Nissen, H.-P.(2002): Das Europäische System Volkswirtschaftlicher Gesamtrechnungen. 4 th ed., Heidelberg, pp 77 83, [or 5 th ed. 2013]. Statistisches Bundesamt (2014). Generalrevision der Volkswirtschaftlichen Gesamtrechnungen 2014 für den Zeitraum 1991 bis In: Wirtschaft und Statistik, September, pp Statistisches Bundesamt (2014a): Generalrevision Production, Income and Saving of the Euro Area in the Integrated Economic and Financial Accounts of the European Central Bank: Basics and Recent Changes Due to the European System of Accounts (ESA) 2010 [May 7] Dunn, M. / Akritidis, L. / Biedma, L. (2014): The Impact of ESA 2010 on Key Indicators of the National Accounts in Europe. In: Eurostat Review on National Accounts and Macroeconomic Indicators. Special Issue on the Implementation of the European System of Accounts (ESA 2010), Luxemburg, pp d-ff3c-497b-a a5c3e7 European Central Bank (2006): Integrated Financial and Non-Financial Accounts for the Institutional Sectors in the Euro Area. In: Monthly Bulletin October, pp 65 77, S29, S45 n. European Central Bank (2014): New International Standards in Statistics

4 4 Enhancements to Methodology and Data Availability. In: Monthly Bulletin August, pp 83 86, 96n. European Central Bank (2014a): Monthly Bulletin December, pp S4, S26n, 89n. Von der Lippe, P. (2002): Zur Interpretation gesamtwirtschaftlicher Produktions- und Einkommensgrößen der deutschen Volkswirtschaftlichen Gesamtrechnung nach dem SNA 93 / ESVG 95. Universität Duisburg- Essen. Part 2: Topics in International Trade: Trade in Goods 6. Technical Progress in a Two-Country-Ricardo Model: Samuelson s Sceptical View on Globalization [May 7: topic has already been assigned to a student!] Apolte, Th. (2005):Samuelson versus Ricardo Schadet Globalisierung dem Wohlstand? In: WISU, Vol. 34, pp Samuelson, P. A. (2004): Where Ricardo and Mill Rebut and Confirm Arguments of Mainstream Economists Supporting Globalization. In: Journal of Economic Perspectives, Vol. 18, S The Jones Specific Factor Model: the Model Framework [May 21: topic has already been assigned to a student!] Jones, R. W. (1971): A Three-Factor Model in Theory, Trade, and History. In: Trade, Balance of Payments, and Growth. Papers in International Economics in Honor of Charles P. Kindleberger. J. Bhagwati et al. (eds.). Amsterdam, pp Krugman, P. R. / Obstfeld, M. Melitz (2012): International Economics. Theory and Policy. 9 th edition, Munich, pp 80-92, Manuscript, University of Colorado, Boulder, Chapter 9, pp 1n. 8. International Trade in the Jones Specific Factor Model [May 21] Krugman, P. R. / Obstfeld, M. / Melitz (2012): International Economics. Theory and Policy. 9 th ed., Munich, pp Manuscript, University of Colorado, Boulder, Chapter 9, pp 2 5.

5 5 9. Imperfect Competition with Internal Scale Economies and Homogeneous Goods [May 28: topic has already been assigned to a student!] ] Manuscript, University of Colorado, Boulder, Chapter 11, pp 1 8, 10 n plus the sources cited there 10. Gains from Trade: Principal Issues and Policy Instruments [May 28: topic has already been assigned to a student!] Bhagwati, J. N. / Panagariya, A. / Srinivasan, T. N. (1998): Lectures on International Trade. 2 nd ed., London, pp Gains from Trade, Distortions, and the Second-Best Policy [June 3, : Wednesday!] Bhagwati, J. N. / Panagariya, A. / Srinivasan, T. N. (1998): Lectures on International Trade. 2 nd ed., London, pp Manuscript, University of Colorado, Boulder, Chapter 10, pp 1 5; Chapter 18, pp 4 7, 10 n. 12. Tariffs in Partial Equilibrium and in General Equilibrium [June 3, : Wednesday!] Bhagwati, J. N. / Panagariya, A. / Srinivasan, T. N. (1998): Lectures on International Trade. 2 nd ed., London, pp Manuscript, University of Colorado, Boulder, Chapter 18, pp 1-4. Marrewijk, Ch. van (2012): International Economics. Theory, Application, and Policy. 2 nd. ed, Oxford, pp

6 6 13. Optimal Tariff and Retaliation [June 9, Tuesday!] Bhagwati, J. N. / Panagariya, A. / Srinivasan, T. N. (1998): Lectures on International Trade. 2 nd ed., London, pp Manuscript, University of Colorado, Boulder, Chapter 18, pp Marrewijk, Ch. van (2012): International Economics. Theory, Application, and Policy. 2 nd. ed, Oxford, pp Deriving the Gravity Equation from a General Equilibrium Model with Trade Costs [June 9, Tuesday: topic has already been assigned to a student!] Anderson, J. E. / Wincoop, E. van (2004): Trade Costs. In: The Journal of Economic Literature, Vol. 42, pp Manuscript, University of Colorado, Boulder, Chapter 13, pp 1 n, 12 n, Part 3: Topics in National Accounting Systems: Financial Accounts 15. Recording Financial Flows and Financial Stocks: Basics of the Financial Accounts [June 18: topic has already been assigned to a student!] Bodie, Z. / Merton, R. C. (2000): Finance. Upper Saddle River, N. J., pp München, pp , 171. Deutsche Bundesbank (2014): Financial Accounts for Germany 2008 to Special Statistical Publication 4, Frankfurt am Main, pp lichungen/statso_4/statso_4_financial_accounts_for_germany_2014.pdf? blob=publicationfile Frenkel, M. / John, K. D. (2006): Volkswirtschaftliche Gesamtrechnung. 6th ed., München, pp Nissen, H.-P.(2002): Das Europäische System Volkswirtschaftlicher Gesamtrechnungen. 4 th ed., Heidelberg, pp , [or 5 th ed. 2013]. Stobbe, A. (1994): Volkswirtschaftliches Rechnungswesen. 8 th ed., Berlin, pp ,

7 7 Van Horne, J. C. (1990): Financial Market Rates & Flows. London, pp 20 26, Analyzing Financial Flows and Stocks: the Case of Germany 2006 [June 18] Deutsche Bundesbank (2007): Investment and Financing in In: Monthly Report, Vol. 59, June, pp /2007_06_investment_and_financing.pdf? blob=publicationfile Deutsche Bundesbank (2007): Financial Accounts for Germany 1991 to Special Statistical Publication 4, Frankfurt am Main, pp 16 18, 23 25, 42 n, 76 n, 108 n. 17. Financial Flows and Stocks of Germany: Recent Methodological Changes and First Results [June 25] Deutsche Bundesbank (2014a): Methodological Changes in the Financial Accounts Background, Approach and Selected Results. In: Monthly Report, Vol. 66, October, pp monthly_report.pdf?_blob=publicationfile Deutsche Bundesbank (2014b): Acquisition of Financial Assets and External Financing in Germany in the Second Quarter of 2014 in Line with the Latest Revision of the Financial Accounts. Press Release of_financial_assets_and_financing.html 18. Financial Flows and Financial Stocks of the Euro Area in the Integrated Economic and Financial Accounts of the European Central Bank: Basics and Recent Changes Due to the European System of Accounts (ESA) 2010 [June 25: topic has already been assigned to a student!] European Central Bank (2006): Integrated Financial and Non-Financial Accounts for the Institutional Sectors in the Euro Area. In: Monthly Bulletin October, pp 65 77, S26 S28. European Central Bank (2014): New International Standards in Statistics Enhancements to Methodology and Data Availability. In: Monthly Bulletin August, pp 83 85, European Central Bank (2014a): Monthly Bulletin December, pp S4, S28n. Howells, P. / Bain, K. (2007): Financial Markets and Institutions. 5 th ed., Harlow, S

8 8 19. Macroeconomic Balance Sheets: Basics and Empirical Results for Germany [July 2] München, pp 10n, Deutsche Bundesbank (2008): Integrated Sectoral and Overall Balance Sheets for Germany. In: Monthly Report, Vol. 60, January, pp _01_balance_sheets.pdf? blob=publicationfile Deutsche Bundesbank (2014c): Balance Sheets for Institutional Sectors and the Total Economy balance_sheets.pdf? blob=publicationfile Frenkel, M. / John, K. D. (2006): Volkswirtschaftliche Gesamtrechnung. 6 th ed., München, pp [or: 7 th ed. 2011]. Stobbe, A. (1994): Volkswirtschaftliches Rechnungswesen. 8 th ed., Berlin, pp The International Investment Position: Basics and Empirical Results for Germany [July 2: topic has already been assigned to a student!] München, pp 213n. Deutsche Bundesbank (2014a): Methodological Changes in the Financial Accounts Background, Approach and Selected Results. In: Monthly Report, Vol. 66, October, pp monthly_report.pdf?_blob=publicationfile Deutsche Bundesbank (2014b): Discrepancy between Changes in Net Foreign Assets and the Cumulated Financial Account: an Unsuitable Indicator of Wealth Losses. In: Monthly Report, Vol. 66, May, pp _monthly_report.pdf? blob=publicationfile Deutsche Bundesbank (2014c): Balance of Payments Statistics. Statistical Supplement 3 to the Monthly Report. December, pp 38n. _3/2014/2014_12_balance_of_payments_statistics.pdf? blob=publicationfile Deutsche Bundesbank (2014c): International Investment Position. _position.html#doc21522bodytext2 Frenkel, M. / John, K. D. (2006): Volkswirtschaftliche Gesamtrechnung. 6 th ed., München, pp [or: 7 th ed. 2011].

9 9 International Monetary Fund (2009): Balance of Payments and International Investment Position Manual Sixth Edition (BPM6). Washington, D. C., pp Krugman, P. R. / Obstfeld, M. / Melitz, M. J. (2012): International Economics. Theory and Policy. 9 th ed., London, pp International Comparison of GDP at Purchasing-Power-Parity Exchange Rates [July 9: topic has already been assigned to a student!] Blanchard, O. (2009): Macroeconomics. 5 th ed., London, pp [or: 6 th ed 2012]. München, pp 298, Eurostat (2012): Eurostat-OECD Methodological Manual on Purchasing Power Parities. Luxemburg. 68a5-4dad-86f5-6327c76da14d?version=1.0 Eurostat (2012a): Reference Metadata: Purchasing Power Parities. Frenkel, M. / John, K. D. (2006): Volkswirtschaftliche Gesamtrechnung. 6 th ed., München, pp 136n [or: 7 th ed. 2011]. Part 4: Topics in International Trade: Factor Mobility 22. Factor Trade and Goods Trade as Substitutes [July 9] Bhagwati, J. N. / Panagariya, A. / Srinivasan, T. N. (1998): Lectures on International Trade. 2 nd ed., London, pp Jones, R. W. /Coelho, I. / Easton, S. (1986): The Theory of International Factor Flows: the Basic Model. In: Journal of International Economics, Vol. 20, pp Manuscript, University of Colorado, Boulder, Chapter 15, pp 1 6. Mundell, R. A. (1957): International Trade and Factor Mobility. In: The American Economic Review, Vol. 47, pp

10 Factor Trade and Goods Trade as Complements [July 16: topic has already been assigned to a student!] Markusen, J. R. (1983): Factor Movements and Commodity Trade as Complements. In: The Journal of International Economics, Vol. 14, pp Manuscript, University of Colorado, Boulder, Chapter 15, pp 6 8.