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Module descriptions

I. Compulsory Courses

Module M1: Advanced Economics A

Courses
  • Economics of Information
  • Dynamic Macroeconomics
Credit points
12
 
Forms of presentations
Lectures and tutorials
Form of examination:
Written test
Semester of studying
First semester
Contents
Economics of Information:
  • Value of information in market systems;
  • Analysis and solution of asymmetric information problems: Moral hazard, adverse selection and signaling.

Dynamic Macroeconomics:
  • Solution of stochastic difference and differential equations;
  • Methods of dynamic optimization;
  • Growth: Brock-Mirman model; growth in multi-sector-models; endogenous growth;
  • Business cycle theory: Real business cycle theory, New neoclassical synthesis; new-Keynesian models.
Language: English

Module M2: Advanced Economics B

Courses
  • Game Theory
  • Monetary Economics
Credit Points
12

Forms of Presentations
Lectures and tutorials
Form of Examination:
Written test
Semester of Studying
Second semester
Contents
Game Theory:
  • Equilibrium concepts in game theory;
  • Applications of equilibrium concepts to economic problems such as market-entrance, time-inconsistency, international policy coordination and environmental economics;
  • Methods in experimental game theory.

Monetary Economics:
  • Financial systems and the relevance of institutions;
  • Theories of money supply;
  • Microfounded theories of money-demand (shopping time models, cash-in-advance models, money-in-the-utility-function models);
  • Institutional design of monetary policy: The time-inconsistency problem of monetary policy and potential solutions, the instrument-choice-problem of monetary policy; target vs. instrument rules;
  • Money and public finance;
  • New Keynesian monetary economics

Language: English

Module M3: Mathematics

Course
  • Mathematics
Credit Points
6

Forms of Presentations:
Lectures and tutorials
Form of Examination:
Written test
Semester of Studying
First semester
Contents
  • Optimization, constrainted optimization;
  • Envelope-theorem, implicit function theorem, comparative statics;
  • Difference equations, differential equations;
  • Dynamic optimization;
  • Linearization of dynamic systems.
Language: English

Module M4: Econometrics

Course
  • Econometrics
Credit Points
6

Forms of Presentations:
Lecture and tutorial
Form of Examination:
Written test
Semester of Studying
First semester
Contents
  • Linear regression with One Regressor
  • Regression with a Single Regressor: Hypothesis Tests and Confidence Intervals
  • Linear Regression with Multiple Regressors
  • Hypothesis Tests and Confidence Intervals in Multiple Regression
  • Nonlinear Regression Functions
  • Regression with Panel Data
  • Instrumental Variables Regression
  • Introduction to Time Series Regression and Forecasting
  • Estimation of Dynamic Causal Effects
Language: English

Module M5: Public Policy and Governance

Courses
  • Economic Policy
  • Advanced Public Economics
Credit Points
12

Forms of Presentations:
Lectures and tutorials
Form of Examination:
Written test
Semester of Studying
First and second semester
Contents
Economic Policy:
  • Normative and positive analysis of economic policy;
  • Distributional conflicts and their effects on economic variables;
  • Time-inconsistency problems in economic policy;
  • Political business cycles, possibilities of reforms.

Advanced Public Economics:
  • Basic concepts in welfare economics;
  • Public goods and external effects;
  • Natural monopolies, regulatory policy, pricing policy of public enterprises;
  • Analysis of tax incidence, optimal indirect taxation, optimal direct taxation.

Language: English

Module M6: International Economics

Courses
  • International Trade
  • International Macroeconomics
Credit Points
12

Forms of Presentations:
Lectures and tutorials
Form of Examination:
Written test
Semester of Studying
Third semester
Contents
  • Foreign trade, trade policy and market structure;
  • Foreign direct investments, international production and globalization;
  • Nominal exchange rate determination: Mundell-Fleming model, monetary model, portfolio model, Dornbusch overshooting model, Obstfeld-Rogoff redux-model;
  • Intertemporal approach to the current account;
  • Exchange rate regimes and monetary integration;
  • Currency crises.

Language: English

Module M7: Seminar on Economic Policy A

Course
  • Seminar on Economic Policy A
Credit Points
8

Forms of Presentations:
Seminar
Form of Examination:
Term paper and presentation
Semester of Studying
Third semester

Seminar topic:
Each semester, several seminars with different topical focuses are offered. Seminar topics are announced one semester in advance. Announcements and information on the seminar topics can be found each semester on the LSF system.


Learning outcomes

  • Independent (quantitative) examination of a given economic topic;
  • Independent completion of an academic seminar thesis on a given economic topic;
  • Presentation of seminar thesis;
  • Active participation in seminar discussions.

 

Language: English

Module M8: Seminar on Economic Policy B

Course

  • Seminar on Economic Policy B

Credit Points:

8

Form of Presentation:

Seminar

Form of Examination:
Term paper and presentation

Semester of Studying:
Fourth semester

Seminar topic:
Each semester, several seminars with different topical focuses are offered. Seminar topics are announced one semester in advance. Announcements and information on the seminar topics can be found each semester on the LSF system.


Learning outcomes

  • Independent (quantitative) examination of a given economic topic;
  • Independent completion of an academic seminar thesis on a given economic topic;
  • Presentation of seminar thesis;
  • Active participation in seminar discussions.

 

Language: English


II. Elective Compulsory Courses

Module W1: Globalisation and Governance

Courses

  • International Economic Policy
  • Financial Markets and Regulation
  • Institutional Economics / Ökonomik der Institutionen
  • Aggregate Economic Accounting Systems
Credit Points
12

Forms of Presentations:
Lectures and tutorials
Form of Examination:
Written test, presentation, term paper
Semester of Studying
Third semester

Contents:


International Economic Policy:

  • Special issues in trade- and monetary policy;
  • Regional integration;
  • Fiscal competition;
  • Problems in international capital movements.

Financial Markets and Regulation:

  • Microeconomic theory of banking;
  • Asymmetric information model, structural weaknesses;
  • Banking at a graduate level in economics and finance.
Language: English / German

Module W2: Social and Labor Market Policy

Courses
  • Labor Market Policy
  • Social Policy
Credit Points
12

Forms of Presentations:
Lectures and tutorials
Form of Examination:
Written test
Semester of Studying
Second semester
Contents:
Labor Market Policy:
  • Labor supply and demand;
  • Labor unions, wage bargaining, unemployment;
  • Efficiency wages, matching, hysteresis, migration;
  • Political economy of labor market regulation.

Social Policy:
  • Insurance markets, adverse selection, ex-ante- and ex-post moral hazard;
  • Non cash benefits versus monetary benefits, cost developement in the public health sector;
  • Funded and non-funded pensions benefit plans, Ricardian equivalence.

Language: English

Module W3: Empirical Economics

Courses

  • Applied Microeconometrics
  • Applied Macroeconometrics
Credit Points
12

Forms of Presentations:
Lectures and tutorials
Form of Examination:
Written test
Semester of Studying
Second semester
Contents
Applied Microeconometrics:
  • Linear Panel Data Models;
  • Instrumental Variables Models;
  • Advanced Topics (GMM, Maximum Likelihood Method, etc.).

Applied Macroeconometrics:
  • Introduction on Dynamic Models;
  • Vectorautoregressive Models;
  • Business Cycle Analysis Models.

Language: English

Module W4: Growth and Development

Courses

  • Economic Growth
  • Development Economics
Credit Points
12

Forms of Presentations:
Lectures and tutorials
Form of Examination:
Written test
Semester of Studying                 
Third semester

Contents

Economic Growth

  • Introduction
  • Neoclassical Theory
  • The AK-Model
  • The Jones-Model
  • Human Capital Accumulation and Growth
  • Product Differentiation and Growth
  • Innovation and Growth in the Spirit of Schumpeter
  • Political Economy and Growth
  • International Economic Relations and Growth
  • Environment and Growth

Develpment Economics

  • Introduction
  • Some Issues and Facts about Underdevelopment
  • Poverty Traps: First-Generation Theories
  • Poverty Traps: Contemporary Theories
  • Inequality and Development
  • Tax-Benets Schemes to overcome Poverty Traps
  • Land Reform
  • Rural-Urban Interactions
  • Development and Institutions

 

 Language: English

Module W5: Wertschöpfungsmanagement/Value Chain Management

Courses
  • Wertschöpfungsmanagement der Großserien- und Massenfertigung
  • Wertschöpfungsmanagement der Einzel- und Kleinserienfertigung
Credit Points
12

Forms of Presentations:
Lectures and tutorials
Form of Examination:
Written tests
Semester of Studying
Third and fourth semester
Contents
Wertschöpfungsmanagement der Großserien- und Massenfertigung:
  • Wertschöpfungsstrategien der Großserien- und Massenfertigung
  • Fertigungskonzepte der Großserien- und Massenfertigung
  • Formale und semiformale Methoden zur Modellierung und Optimierung von Wertschöpfungsprozessen
  • Value Stream Management
  • Kostenmanagement der Großserien- und Massenfertigung und Kostenwirkungsgradrechnung
  • Toyota Production Systems
Wertschöpfungsmanagement der Einzel- und Kleinserienfertigung:
  • Auftrags- und Variantenfertigung als strategische Umsetzungen der Einzel- und Kleinserienfertigung
  • Variantenmanagement
  • Komplexitätsmanagement
  • Projektmanagement und Time-Based Management
  • Claim Management
Language: German

Module W6: Organizational Evolution and Turnaround

Courses
  • Strategic and International Management
  • Organizational Development and Turnaround-Management
Credit Points
12

Forms of Presentations:
Lectures and tutorials
Form of Examination:
Written tests
Semester of Studying                 
Second and/or fourth semester
Contents
Strategic and International Management:
  • Strategiekonzepte und Theorie des strategischen Managements in KMU
  • Methoden der strategischen Analyse für KMU
  • Strategischer Rahmen in KMU
  • Upper Echolon Theorie/strategische Entscheidungsträger
  • Strategieformulierung und Auswahl
  • Strategieimplementierung
  • Strategische Mitarbeiterführung in KMU
  • Internationalisierungsstrategien und Führungskonzepte

Organizational Development and Turnaround-Management:
  • Grundlagen der Krisenerkennung
  • Krisenphasen und Turnaround-Prozess
  • Analyse der Krisenursachen
  • Turnaround-Management
  • Beteiligte des Turnaround-Prozesses
  • Schrumpfung und Beendigung
Language: German/English

Former Elective Compulsory Modules W5-W7

III. Master Thesis

The thesis is written in semester four and has a workload of 20 CP. The topic of the thesis has to come out of the area of economics; the candidate has the right to propose a topic
Processing time: 15 weeks
Extend: 60 pages
Requirements for registration: 72 CP and a successful passed seminar.