This academic thesis explores the consensus among economists regarding significant events and trends in macroeconomics. It delves into historical economic developments, analyzing their impact and implications. The work is grounded in rigorous research and presents a well-structured argument, earning a high grade from the Berlin School of Economics and Law. It aims to contribute to the understanding of macroeconomic history and its relevance to contemporary economic discussions.
The thesis explores the evolving role of hedge funds within the financial system, highlighting their dual reputation as both beneficial and potentially destabilizing entities. While hedge funds have contributed to market efficiency and risk diversification, concerns persist regarding their capacity to create systemic risk, as illustrated by the Long Term Capital Management crisis. The paper aims to provide a comprehensive understanding of the hedge fund industry, analyzing its advantages and the inherent threats it poses to financial stability through a detailed four-part structure.
Essay from the year 2009 in the subject Business economics - Economic Policy,
grade: 1,7, Berlin School of Economics and Law, language: English, abstract:
The national currency of each country in Europe was an indispensable element
of national sovereignty and bank notes as an expression of national culture
and trademark. With successive significance of bank notes as a means of
payment in modern economic life central banks gradually gained a stronger role
and monetary policy has become an integrated part of economic policy. In
respect to this development the implementation of stage three of the EMU in
1999 was an important caesura in European history since a major part of
European political independent countries gave up their sovereignty of monetary
policy by adopting and agreeing on an irrevocable peg of their domestic
currency to the Euro. This required a change to a new European monetary policy
in the sector of European central banking. Thus, the ECB was founded and the
NCB's of the MS integrated into a European central bank system. It has never
been achieved a similar integration process of a policy area in the EU as that
of the common monetary and exchange rate policy. The EU has nowhere else been
more authentically developed in its identity than in the area of the Euro and
the ECB. Nowadays, the participating MS form a currency area that is
considered as the second largest economic area behind the USA. This reveals
the worldwide significance of European monetary policy that will be explained
in the following. The first chapter will briefly comment on the institutional
framework structure before the topic of price stability will be introduced.
Chapter four and five will examine the transmission process and the monetary
strategy of the ECB. In the sixth chapter monetary instruments will be closely
described while chapter seven explains the use of instruments of the ECB to
react to the current financial crisis. C
Essay from the year 2009 in the subject Business economics - Economic Policy,
grade: 1,3, Berlin School of Economics and Law, language: English, abstract:
Nowadays, living and working conditions of EU citizens alter in a very fast
pace due to globalization, accelerated technological progress and demographic
change. Therefore,challenges European economies have to cope with are for
example: - Increasing international trade and thus worldwide economic
integration,- An expansion on global reserves of workforce, - An adjustment of
labour division between industrialized and emerging markets and - A successive
significance of human capital in course of a community of knowledge. On the
one hand, to remain competitive this change1 means that firms within EU
countries have to establish new markets while the requirements on mastering
production processes and forms of organization increase. As far as employees
are concerned, they have to be willed and capable to tune in to those labour
market changes. Thus, life long learning and mobility become the very basics
of success. In the same time higher pressure on wages and employment of low
level qualified people can be seen in course of ongoing processes in job
specialization. On the other hand, there has been an establishment of
awareness within Europe of a common social model which carries the
characteristics of: - Social cohesion, solidarity and the abatement of social
poverty and discrimination, - Securing general access to a health and
education system as well as broad social covering and - A significant role of
the public sector to provide the necessary infrastructure. This shows that
social security within the European society is strongly anchored which forms a
certain constant in the approach of new reforms. Hence, flexicurity as an
essence of the adaptability pillar of the EES has the task to strike the
balance of a more flexible labour market to preserve European competi
Der Steuerwettbewerb wird als Anreiz für Länder beschrieben, ihre Standortvorteile zu optimieren, insbesondere im Kontext der 2008 in Deutschland eingeführten Unternehmenssteuerreform. Die Mobilität des Kapitals führt dazu, dass Individuen der Besteuerung entkommen können, was Staaten zwingt, im Wettbewerb um mobile Besteuerungsgrundlagen zu agieren. Dies hat zur Folge, dass die Körperschaftssteuersätze durch den Druck von Wirtschaftslobbyisten sinken. Eine gemeinsame Kooperation der Länder könnte jedoch den Abfluss von Steuersubstrat verhindern und zu einem vorteilhaften Konsens führen.
Der Essay beleuchtet die Kritik an der klassisch-neoklassischen Wirtschaftstheorie, insbesondere während der Weltwirtschaftskrise. John Maynard Keynes' berühmtes Zitat "In the long run we are all dead" unterstreicht die Unzulänglichkeiten dieser Theorie, die in der Krise, ausgelöst durch den Börsencrash von 1929 und den Zusammenbruch des amerikanischen Bankensystems 1933, an Glaubwürdigkeit verlor. Der Text diskutiert die Folgen dieser Ereignisse für die wirtschaftliche Theorie und die damit verbundene Abkehr vom Laissez-Faire-Prinzip, das auf die Selbstheilungskräfte des Marktes vertraute.
Die Analyse von John Maynard Keynes' Werk bietet einen tiefen Einblick in die Kritik an der klassischen neoklassischen Theorie. Keynes' komplexe Argumentation zu Beschäftigung, Zinsen und Geld wird durch die Interpretation von John R. Hicks ergänzt, der Keynes' Ideen in ein formelles Modell überführt. Diese Auseinandersetzung zeigt die wirtschaftspolitischen Fehler der neoklassischen Ökonomie auf und beleuchtet die grundlegenden Veränderungen, die Keynes' Theorien für die Makroökonomie mit sich brachten.
Essay aus dem Jahr 2007 im Fachbereich BWL - Recht, Note: 1,0, Hochschule für Wirtschaft und Recht Berlin, Sprache: Deutsch, Abstract: Das Urteil des Europäischen Gerichtshofes (EuGH) vom 20. Februar 1979 in derRechtssache 120/78, REWE-Zentral AG gegen Bundesmonopolverwaltung für Branntwein, bezieht sich auf die Grundfreiheit des Warenverkehrs in der Europäischen Union.
