Macroeconomic
Macroeconomics assignment
Please listen to the one hour Freakonomics Podcast on:
“What Are the Secrets of the German Economy — and Should We Steal Them?”
that you can download or listen to via stream at: http://freakonomics.com/podcast/secrets-german-eco…
This podcast touches on many of the issues that we have discussed so far: unemployment, trade, labor markets, productivity etc.
PS: They also interview many leading German economists. That way you get to listen to lots of German accents and you will miss me less!! And if you want to train some, check this:
https://youtu.be/gr7Q_GZlvis
Answer these questions
Q1:Please listen to the full podcast and then explain the term “Mittelstand” and how it is important for the German manufacturing “miracle”. Write one paragraph to get full points.
Q2: Listen to the podcast and write a TWO paragraph summary about the problems in labor markets after re-unification of two very disparate economies, West and East Germany. Specifically discuss labor market equilibrium issues!
Q3: Why were American Senators upset about Volkswagen’s attempt to cooperate with labor unions as part of their business model?
Write one paragraph to get full points
…………………Answer preview……………………….“Mittelstand” are small and medium-sized family-owned firms comprising the German manufacturing sector. They employ between a hundred to a thousand personnel, receive a lot of government support and are very international, in that, they are export superstars. On the other hand, the German miracle is the ability of the German economy to withstand economic depression and the export threat from China………………..
