Macroeconomics, foreign trade and the European Union. Basics and Examples.

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Lecture at Irkutsk State University; Mathematical
Faculty Nov. 29
th
-
Dec.3
rd



Macroeconomics, foreign trade and the
European Union. Basics and Examples.



Macroeconomics, foreign trade and European Union. Basics.

Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

2


Lecturer: Dipl.
-
Kfm.

Thomas Stiegler



2002


2007 studies in business administration in
Göttingen


2007


date

scientific
assistent
, lecturer in Macroeconomics at



Economic faculty of
Göttingen

University


PhD thesis on the economical convergence processes in former
socialistic states.



09.2010


09.2011 at
ИГУ

through Erasmus
Mundus

programme

of
European Union


email
: thomasstiegler@gmx.de


Macroeconomics, foreign trade and European Union. Basics.



aggregated parameters at national / international scale



parameters are observed on markets



all three markets can be influenced by the state




macroeconomics analyzes the actions of the
stakeholders and predicts its consequences!


Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

3

1. What is Macroeconomics
?


Macroeconomics, foreign trade and European Union. Basics.



the state can influence any market! How should the state act

on the markets?




how can the national wealth be improved?




how can inflationary tendencies be avoided?




are the surpluses/deficits in foreign trade sustainable or


should the state act? How can he act?




which exchange rate policy is useful?

Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

4

Is there any practical use of Macroeconomics?


Macroeconomics, foreign trade and European Union. Basics.



the state acts mainly in two economic fields:






f
iscal policy :

Spending of the state, taxes, social aid,





subsidies for companies etc.





monetary policy:

Interest rates, supply with money etc.


However fields like Competition laws, Foreign (trade) policy, Social politics,
Education politics interact with questions like above.



Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

5

Fields
of

action

of

the

state


Macroeconomics, foreign trade and European Union. Basics.

To summarize:



macroeconomics analyses aggregated parameters of an economy



it tries to judge an economic situation



it advices economic policy in order to reach a growth in national
wealth



it analyses and evaluates international economic relations

Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

6

What

macroeconomic

does


Macroeconomics, foreign trade and European Union. Basics.



community of independent states



bound by multinational treaties, valid for each member



some authority of national states is passed over to Unions institutions



When passed to EU: Any member has to accept the EU institution


This process lasts for over 50 years now and is deepening. However it is
argued if the way of EU is one to a national state like the USA.

Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

7

2.
What

is

the

European Union?


Macroeconomics, foreign trade and European Union. Basics.

In general for each field of politics there are four possibilities of the
stage of EU competences:



Fields where the EU can pass acts and directives valid in all
memberstates




Fields where the EU passes a common politic, which has to be realized by legal

process in each single member state



Fields where the EU works out a common position in a field, but the realization

of this is facultative for the members




Fields where is no competence for EU politics


Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

8

Different
competence

levels

in EU


Macroeconomics, foreign trade and European Union. Basics.

Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

9

development of
member states
1957
-
2007


Macroeconomics, foreign trade and European Union. Basics.






after WWII European politicians tried to avoid wars by

binding war important industries together




the economical cooperation was intensified, as well on non

war important fields, political cooperation was aimed at


Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

10

A
short

history

of

European
integration

(1)


Macroeconomics, foreign trade and European Union. Basics.






in 1967 the European Community was founded and thus the

legal framework intensified.




after intensifying cooperation in the following 20 years the

Community was enlarged from 6 member states to 12 in

1986

Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

11

A
short

history

of

European
integration

(2)


Macroeconomics, foreign trade and European Union. Basics.






in the late 1980 a new framework was developed. EC should

be transformed in a political Union as well as real common

market.




in 1991 the European Union was founded. The common

market was realized and a common European citizenship

introduced. Border controls fell apart and every citizen

could work and live where he wants

Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

12

A
short

history

of

European
integration

(3)


Macroeconomics, foreign trade and European Union. Basics.






in 1999 the EURO was implemented, like agreed in 1991




in 2004 and 2007 middle and eastern European stated joint

EU




2010 the constitution of the EU got into action. Making EU

more democratic as well as bringing it closer to some kind

of state. EU of today is a community of synchronized politics

as well as economic Union

Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

13

A
short

history

of

European
integration

(4)


Macroeconomics, foreign trade and European Union. Basics.






27 member states




Population: 501 million people




Russia 142 million, USA 308 million




if seen as a single state, that’s world’s 3
rd

place after China and India




Area: 4,3 million km²




Russia 17 million km²; USA 9,6 million km²

Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

14

Some

basic

data

on EU (1)


Macroeconomics, foreign trade and European Union. Basics.






GDP total:

$18,4 trillion




Russia $2,1 trillion; USA $14,2 trillion




if seen as a single state EU is the biggest economy of the world




GDP per head:

$ 36.788




Russia $ 14.920; USA $ 46.381

Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

15

Some

basic

data

on EU (2)


the

economy


Macroeconomics, foreign trade and European Union. Basics.



state acts with his fiscal and monetary policy in macroeconomics



EU got competences from national states




Fiscal policy; Funds for convergence processes, agricultural policy and so on




Monetary policy. European Central Bank issues the money (EURO) and thus

controls this field.



European Common market and tariff union connect states



close to each other



Macroeconomic situation is connected closely with EU


Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

16

Where

is

the

connection

between

Macro

an EU?


Macroeconomics, foreign trade and European Union. Basics.


Select points from macroeconomic theory or international
trade and give a short sight into the theory


Give some examples from real macroeconomics




To cover the whole field of EU


macro connections we could
fill years with! What we do is just some short examples to show
some applied macroeconomics.

Lecture 1

29.11.2010

Dipl.
-

Kfm. Thomas Stiegler, University of Göttingen.

17

What

we

will do in
the

following

chapters