Module descriptions

• Advanced knowledge of micro- and macroeconomic methods;
• Learning advanced methods for the solving of dynamic stochastic general equilibrium models;
• Applying these methods to various areas of dynamic macroeconomics;
• Learning the model framework with overlapping generations;
• Allow students to participate in current academic discussions surrounding dynamic macroeconomics approaches.

• Resolution of stochastic difference equations;
• Dynamic optimisation methods (Lagrange methods, Bellmann functional equation, numerical solution methods);
• Analysis of:
  o Growth: Brock-Mirman model
  o Fiscal policy
  o Unemployment
  o Financial markets in the general equilibrium or OLG model framework
• 
  

• Advance knowledge of advanced microeconomic theory;
• Understanding the areas in which microeconomic theory apply;
• Ability to analyse and solve microeconomic problems independently.

• Theory of consumption;
• Production;
• Market failure;
• General equilibrium;
• Game theory;
• Information economics.
• 
  

• Knowledge of basic optimisation methods;
• Knowledge of mathematical methods for comparative static analysis;
• Knowledge of the mathematical methods of dynamic economic theory.

• Optimisation, restricted optimisation;
• Envelope theorem, implicit function theorem, applications in comparative static analysis;
• Difference equations, differential equations;
• Dynamic optimisation;
• Linearisation of dynamic systems.
• 
  

• Application of the linear econometric equation model;
• Calculation of the least squares estimator for the regression coefficients;
• Hypothesis testing and determination of confidence intervals for the parameters;
• Creation of point and interval forecasts;
• Basic knowledge of the generalised linear regression model;
• Dealing with the special cases of heteroscedasticity and first-order autocorrelation.

• We address the synthesis of economic theory and mathematical-statistical
  methods. We discuss how economic parameters can be examined from a
  quantitative and qualitative perspective so as to verify the empirical validity
  of economic theoretical models and to analyse economic phenomena
• 
  

Language: English

• Advanced understanding of the reasons and motives for state intervention in the area of social policy;
• Advanced knowledge of the impact of the various public policy instruments of social policy;
• Knowledge of the empirical analysis of social policy;
• The ability to analyse socio-political problems independently.

• Insurance markets, adverse selection, ex-ante and ex-post moral hazard;
• Interdependence of social security systems;
• Dynamic insurance contracts, risk structure compensation;
• Contracts with healthcare providers;
• Pay-as-you-earn and defined contribution schemes, Ricardian equivalence, incentive effects of pension schemes;
• Behavioural economic factors in social policy.
• 
  

• The goal of this course is to provide students with an introduction to the
  neoclassical theory of the labour market. In particular, this includes
  understanding the decisions surrounding labour supply and demand made
  by workers and businesses. Students should also gain an overview of the
  functioning of labour markets and labour market policies, develop an
  advanced understanding of the reasons and motives for employment
  policy interventions, and acquire advanced knowledge of the impact of
  various public policy instruments in the field of employment policy.

• Supply and demand of labour
• Trade unions, pay negotiations, unemployment;
• Efficiency wages, matching, hysteresis.
• 
  

• Knowledge of important empirical results from international trade;
• Ability to complete microeconomic analyses of international trade;
• Understanding the causes and effects of foreign trade;
• Knowledge of the motives and effects of selected trade policy instruments.

• Overview of international trade flows;
• Overview of the causes of foreign trade;
• International trade with full competition;
• The importance of "distortions" for international trade (market power, economies of scale, heterogeneity);
• Factor movements.
• 
  

• This course aims to teach the ability to analyse macroeconomic variables
  in the open economy. In this respect, knowledge regarding the most
  important aggregated accounting systems for the description of
  international trade and financial relations is imparted first. This is followed
  by the model-based analysis of macroeconomic relations with foreign
  countries and their significance for the domestic economy. Specifically,
  inter-temporal models on a microeconomic basis are used, which firstly
  allow for a simultaneous view of goods and financial factors, and secondly
  consider flows (transactions) and stocks (e.g. receivables, debts) at the
  same time.

• Balance of payments, international investment status: Representation and mathematical relations in terms of the domestic economy;
• One-output models of the relationship between the current account, the movement of capital and the domestic economy;
• Distributional effects of international economic relations: debtors and creditors;
• The importance of the size of a country;
• Heterogeneous goods and terms of trade;
• The real and nominal exchange rate.
• 
  

• Advanced knowledge of market failure with natural monopolies;
• Advanced understanding of the problem of incentive-compatible regulation
• Knowledge of peak load pricing;
• Knowledge of the basic problems of public procurement;
• Knowledge of the peculiarities of public management.

• Natural monopolies;
• Peak load pricing;
• Price discrimination;
• Incentive-compatible regulation;
• Public procurement, auctions;
• Public versus private sector organizations;
• Public-private partnerships;
• Public management.
• 
  

Language: English

Qualification goals

• Advanced knowledge of the economics of fiscal systems;
• Knowledge of the advantages and disadvantages of a federal state structure;
• Knowledge of the effects of fiscal policy instruments in the context of a federal system;
• Knowledge of empirical methods in federalism research;
• Knowledge of the political economy of federal systems.

• Fundamentals of fiscal federalism;
• The allocation of competencies in the federal system;
• Fiscal competition, horizontal and vertical tax competition;
• Financial equalisation systems, insurance and distribution factors;
• Political and economic aspects of federalism.

• Advanced knowledge of the particularities of public finance in developing and emerging countries;
• Knowledge of the effects of fiscal policy instruments in the context of developing countries;
• The ability to independently analyse financial problems in developing countries.

• Tax systems in developing countries;
• Tax policy and the informal sector;
• Special aspects of public spending in developing countries;
• Politico-economic aspects of public spending in developing countries.
• 
  

The economic policy seminar conveys the ability to independently conduct scientifically sound analyses of economic problems and the ability to elaborate political solutions. This requires knowledge of micro- and macroeconomics as well as applied econometrics at Master's level.

At the end of the module, students will be equipped with the following:

• Ability to independently analyze economic problems;
• Ability to formulate potential scientifically sound economic and financial policy solutions;
• Ability to independently, qualitatively and quantitatively, evaluate different policy measures in the field of economic and financial policy.

• Tax systems in developing countries;
• Tax policy and the informal sector;
• Special aspects of public spending in developing countries;
• Politico-economic aspects of public spending in developing countries.
• 
  

The course teaches modern urban and regional economic methods and knowledge at Master's level. This requires knowledge of microeconomics and econometrics at Master's level.

At the end of the module, students are equipped with the following:

• Understanding of basic spatial economic models;
• Knowledge of empirical methods in urban and regional economics;
• Understanding of how the housing market and housing policy instruments work.

• Economics of urban land use and urban structures;
• Housing supply and demand;
• Urban and housing policies;
• (New) Economic Geography.
• 
  

• The students can select a module from the field of Business
  Administration according to their individual areas of special focus. The
  module provides the opportunity to gain knowledge from related
  disciplines which are in an interdisciplinary research or practice context,
  and to contribute to the advanced study and/or specialisation in the field of
  Economics and Business Administration.

• As the "Current Topics in Business" module, one module can be selected
  once from the "Current Topics in Business” module catalogue. The
  content is oriented to the modules that can be completed. Modules are
  offered in the scope of 6 credit points from the student’s faculty of study
  and from other faculties which contain Business Administration study
  elements that find application in the context of Economics/Business
  Administration. The module catalogue is published each semester in the
  course catalogue no later than one semester before the start of teaching.
• 
  

• Students can select an economics module according to their individual
  areas of special focus. The module allows students to gain knowledge
  from their personal or related disciplines which are in an interdisciplinary
  research or practice context, and to contribute to the advanced study
  and/or specialisation in the field of Economics.

• As the "Current Topics in Economics" module, one module can be
  selected once from the "Current Topics in Economics” module catalogue.
  The content is oriented to the modules that can be completed. Modules
  are offered in the scope of 6 credit points from the student’s faculty of
  study which contain economic study elements that find application in the
  context of Economics. The module catalogue is published each semester
  in the course catalogue no later than one semester before the start of
  teaching.
• 
  

• This course is intended to complement the theory-based courses in the
  MEPS programme by dealing with the ex-post analysis – i.e. the
  description – of the macroeconomic phenomena. Building on their
  knowledge of national accounts from their basic macroeconomic
  education, students become familiar with other important macroeconomic
  calculation models. This enables them to complete a comprehensive
  description of macroeconomic activities (flows) and other variables (in
  particular stocks).

• Important macroeconomic variables: Definition, testimony, investigation;
• Distinguishing between changes in price and volume;
• International comparisons;
• System of accounts for national accounts;
• Accumulation calculations and balance sheets;
• Macroeconomic cash flow statement.
• 
  

• Basic knowledge of macroeconometric methods and procedures;
• Advanced understanding of the central problems in empirical economic research;
• The ability to independently analyse empirical macroeconomic questions with the use of adequate econometric methods and software.

• Principles of macroeconometrics;
• Univariate time series models;
• Multivariate time series models;
• Implementation of macroconometric methods in applied empirical economic research on the computer.
• 
  

• The qualification goal of this module is to increase the understanding of
  the application-oriented econometrics, to impart advanced knowledge of
  microeconometric methods and to enable the students to critically
  evaluate empirical studies.

• Natural experiments and identification strategies;
• Difference-in-differences;
• Regression-discontinuity design;
• Instrumental variables;
• Event studies;
• Regression kink design.
• 
  

• Advanced capacity for economic policy analysis;
• Ability to critically analyse economic policy discourses
• Ability to formulate personal economic policy recommendations
• Advanced understanding of market, state and policy failure;
• Advanced knowledge of the impact of government policy instruments in differing areas of economic policy, such as monetary- and fiscal policy;
• Extensive knowledge of current economic policy approaches and methods;
• Understanding the breadth and limits of economic policy models.

• Normative and positive analysis of economic policy;
• Traditional and modern approaches to economic policy theory;
• Formal methods of economic policy;
• Economic policy makers;
• Statistical and dynamic analysis of the interaction between politics and the private sector;
• Limits to the effectiveness of economic policy measures and interventions;
• Principles of the political economy;
• Examples-based analysis of selected areas of economic policy, such as monetary and fiscal policy.
• 
  

• Advanced knowledge of development theory and development policy;
• Extensive knowledge of current development policy approaches and methods;
• Advanced capacity for development policy analysis;
• Ability to critically analyse development policy discourses;
• Ability to formulate personal development policy recommendations;
• Understanding the limits of the effectiveness of development policy interventions;
• Advanced knowledge of the impact of development policy and its instruments;
• Understanding the breadth and limits of development policy models.

• Normative and positive analysis of development policy;
• Classical and modern theories of economic development;
• Development policy decision-makers;
• Limits to the effectiveness of development policy measures and interventions;
• Examples-based analysis of selected areas of development policy, such as investment and trade policy;
• Development strategies;
• Economic and institutional conditions of development;
• Forms and effects of development cooperation;
• Historic and institutional principles of development.
• 
  

• Advanced ability to analyse international economic policy;
• Extensive knowledge of current approaches and methods in the field of international economic policy;
• Ability to critically analyse discourses in the field of international economic policy;
• Ability to apply trade and monetary policy instruments in the strategic context;
• Understanding of the interactions of national economic policies and their impact on other countries;
• Ability to formulate personal economic policy recommendations;
• Advanced knowledge of the impact of government policy instruments in differing areas of international economic policy;
• Understanding the breadth and limits of international economic policy models.

• Normative and positive analysis of the use of trade and monetary policy instruments;
• Traditional and modern approaches to international economic policy theory;
• Conflicts in international trade and monetary policy;
• Possibilities and limits of cooperation in international economic policy;
• Formal methods of international economic policy;
• Statistical and dynamic analysis of the interaction between politics and the private sector in the field of international policy;
• Limits to the effectiveness of economic policy measures and interventions in the international context;
• The role and importance of international organisations in the field of economic policy.
• 
  

The course teaches modern industrial economics methodology and insights at Master's level . This requires knowledge of microeconomics at Master's level.

• A good understanding of markets and strategies;
• Advanced knowledge of industrial economics methodology;
• Ability to independently conduct scientifically sound analyses of markets and strategies from a business as well as a welfare perspective.

• Market and strategies;
• Competition Economics;
• Digital Economy;
• Industrial economic with a focus on digital markets and competition policy.
• 
  

• Intermediation;
• Network effects;
• Two-sided markets;
• Digital platforms;
• Supply chain economics;
• Hybrid retailing;
• Price discrimination;
• Geoblocking;
• Mergers;
• Collusion.

The course will partly be based on the textbook "Industrial Organization: Markets and Strategies" by Paul Belleflamme and Martin Peitz.

• The students can select a module from the field of Business
  Administration according to their individual areas of special focus. The
  advanced module provides the opportunity to gain knowledge from
  related disciplines which are in an interdisciplinary research or practice
  context, and to contribute to the in-depth study and/or specialisation in
  the field of Economics and Business Administration.

• As the "Selected Topics in Business" module, one module can be
  selected once from the "Selected Topics in Business” module
  catalogue. The content is oriented to the modules that can be
  completed. Modules are offered in the scope of 9 credit points from the
  student’s faculty of study which contain Business Administration study
  elements that find application in the context of Economics. The module
  catalogue is published each semester in the course catalogue no later
  than one semester before the start of teaching.
• 
  

• Students can select an economics module according to their individual
  areas of special focus. The module allows the student to gain advanced
  knowledge from their personal or related disciplines which are in an
  interdisciplinary research or practice context, and to contribute to the in-
  depth study and/or specialisation in the field of Economics.

• As the "Selected Topics in Economics" module, one module can be
  selected once from the "Selected Topics in Economics” module catalogue.
  The content is oriented to the modules that can be completed. Modules
  are offered in the scope of 9 credit points from the student’s faculty of
  study which contain advanced economic study elements that find
  application in the context of Economics. The module catalogue is
  published each semester in the course catalogue no later than one
  semester before the start of teaching.
• 
  

Qualification goals

Research modules have been conceived as focal point modules: similar to
a seminar, they are intended to encourage students to address a subject
area independently, but their scope extends far beyond this.
In the research modules, the students are generally required to make a
greater individual contribution and to become more familiar with the
research literature:

• By completing term papers or addressing problem sets, a more intense
  and advanced critical discussion of economic policy problems and
  concepts is encouraged on an individual analytical level. Before their final
  seminar paper, the students become familiar with dealing with academic
  texts and writing academic papers;
• The seminar-based components encourage a more intense and
  advanced critical discussion of economic policy problems and concepts at
  the collective level through the discourse with other students;
• By compiling and presenting the seminar paper, the student should be
  introduced to the current state of research in the relevant field, and be
  prepared for the final thesis in the degree program in terms of the content
  and methods.

• In-depth understanding of markets and strategies;
• Extensive advanced knowledge of industrial economics methodology;
• Ability to independently conduct scientifically sound analyses of markets and strategies from the perspective of individual
  companies, an industry and the state;
• Students will be able to conduct conceptual and empirical analyses of markets and strategies on their own using data sets and quantitative methods.

• Market and strategies;
• Competition economics;
• Digital economy;
• We study both digital and traditional markets using economemtric techniques;
• Students will learn to analyze industry and market data on their own using statististical software.

Qualification goals

Research modules have been conceived as focal point modules: similar to
a seminar, they are intended to encourage students to address a subject
area independently, but their scope extends far beyond this.
In the research modules, the students are generally required to make a
greater individual contribution and to become more familiar with the
research literature:

• By completing term papers or addressing problem sets, a more intense
  and advanced critical discussion of economic policy problems and
  concepts is encouraged on an individual analytical level. Before their final
  seminar paper, the students become familiar with dealing with academic
  texts and writing academic papers;
• The seminar-based components encourage a more intense and
  advanced critical discussion of economic policy problems and concepts at
  the collective level through the discourse with other students;
• By compiling and presenting the seminar paper, the student should be
  introduced to the current state of research in the relevant field, and be
  prepared for the final thesis in the degree program in terms of the content
  and methods.

• Advanced knowledge of the current theoretical and empirical developments in the areas of monetary theory and finance;
• Can analyse the economic policy implications of current theoretical and empirical developments in the areas of monetary theory and finance.

• Monetary theory and policy:
  o Stylised facts of monetary theory;
  o Interplay between monetary and fiscal policy;
  o Neo-Keynesian theoretical framework;
  o Monetary policy in the neo-Keynesian theoretical framework;
  o Conventional and unconventional monetary policy instruments:
• Financial markets:
  o Analysis of the effects of the existence of asymmetrical information situation;
  o Importance and functions of banks/financial intermediaries;
  o Analysis of financial market crises;
  o Principles of financial market regulation.

Qualification goals

Research modules have been conceived as focal point modules: similar to
a seminar, they are intended to encourage students to address a subject
area independently, but their scope extends far beyond this.
In the research modules, the students are generally required to make a
greater individual contribution and to become more familiar with the
research literature:

• By completing term papers or addressing problem sets, a more intense
  and advanced critical discussion of economic policy problems and
  concepts is encouraged on an individual analytical level. Before their final
  seminar paper, the students become familiar with dealing with academic
  texts and writing academic papers;
• The seminar-based components encourage a more intense and
  advanced critical discussion of economic policy problems and concepts at
  the collective level through the discourse with other students;
• By compiling and presenting the seminar paper, the student should be
  introduced to the current state of research in the relevant field, and be
  prepared for the final thesis in the degree program in terms of the content
  and methods.

At the end of the module, the students have:

• Advanced understanding of economic policy analysis;
• Advanced understanding of market, state and policy failure;
• Advanced knowledge of the impact of the various public policy;
• Instruments in the area of allocation and regulation policy;
• Advanced knowledge of the theory and policies of taxation;
• Ability to work independently on economic and financial policy issues.

Content

• Advanced welfare economics;
• Market failure;
• Tax incidence analysis, optimum indirect taxation, optimum direct taxation;
• Applied tax policy.

Qualification goals

Research modules have been conceived as focal point modules: similar to
a seminar, they are intended to encourage students to address a subject
area independently, but their scope extends far beyond this.
In the research modules, the students are generally required to make a
greater individual contribution and to become more familiar with the
research literature:

• By completing term papers or addressing problem sets, a more intense
  and advanced critical discussion of economic policy problems and
  concepts is encouraged on an individual analytical level. Before their final
  seminar paper, the students become familiar with dealing with academic
  texts and writing academic papers;
• The seminar-based components encourage a more intense and
  advanced critical discussion of economic policy problems and concepts at
  the collective level through the discourse with other students;
• By compiling and presenting the seminar paper, the student should be
  introduced to the current state of research in the relevant field, and be
  prepared for the final thesis in the degree program in terms of the content
  and methods.

• Knowledge of the basic principles of the international economic system and its history;
• Knowledge of the functioning and development of the key international economic organisations;
• The ability to integrate the theoretical, historical and institutional aspects of international economic policy.

• Principles of the development of the international economic system in the 20th century;
• Stakeholders and institutions;
• Changes in global power relations in the international economic system;
• Conflicts and possibilities for cooperation in the 20th century in various areas of policy;
• Development of institutional cooperation in matters of trade and monetary policy;
• Analysis and functioning of the main international economic policy organisations, such as the World Trade Organisation, the International Monetary Fund and the World Bank.

Qualification goals

Research modules have been conceived as focal point modules: similar to
a seminar, they are intended to encourage students to address a subject
area independently, but their scope extends far beyond this.
In the research modules, the students are generally required to make a
greater individual contribution and to become more familiar with the
research literature:

• By completing term papers or addressing problem sets, a more intense
  and advanced critical discussion of economic policy problems and
  concepts is encouraged on an individual analytical level. Before their final
  seminar paper, the students become familiar with dealing with academic
  texts and writing academic papers;
• The seminar-based components encourage a more intense and
  advanced critical discussion of economic policy problems and concepts at
  the collective level through the discourse with other students;
• By compiling and presenting the seminar paper, the student should be
  introduced to the current state of research in the relevant field, and be
  prepared for the final thesis in the degree program in terms of the content
  and methods.

Students can select an economics module according to their individual
areas of special focus. The module provides the opportunity to learn in-
depth knowledge from the discipline of Economics which contributes to
advanced study and/or specialisation in Economics.

Content

• As the "Current Research Topics in Economics" module, one module can
  be selected once from the "Current Research Topics in Economics”
  module catalogue. The content is oriented to the modules that can be
  completed. Outside the regular curriculum, research modules are offered
  with a scope of 15 credit points from the student’s faculty of study which
  are related to a current research area of Economics or related disciplines.
  The module catalogue is published each semester in the course catalogue
  no later than one semester before the start of teaching.

Qualification goals

• Identification of and quick introduction to specialist problems;
• Application of specialist academic standards so as to address and solve problems;
• Independent problem solving according to academic methods within a given period of time;
• Application of the technical and methodological skills gained during the course of study;
• Development of academically and socially-relevant conclusions;
• Written presentation of the results according to academic standards.

Content

• Topic comes from the field of Economics;
• The specific contents depend on the respective task.