Master of Science Economics and Institutions

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Master of Science Economics and Institutions Module Handbook

Master of Science Economics and Institutions

Contents Research Methods ...................................................................................................... 3 Theoretical Economics (M-METH/TE) ............................................................................ 3 Empirical Economics (M-METH/EE) ................................................................................ 4 Institutional Economics ............................................................................................... 5 Theoretical Institutional Economics (M-INST/TIE) ......................................................... 5 International Institutional Economics (M-INST/IIE)....................................................... 6 Law and Economics (M-INST/LAE) .................................................................................. 7 Applied Institutional Economics (M-INST/AIE) .............................................................. 8 Public Economics (M-INST/PE) ....................................................................................... 9 Cooperative Economics (M-INST/CE) ........................................................................... 10 Seminar on Institutional Economics (M-SEM/INST) .................................................... 11 Economics Specialisations: Economic Policy .............................................................. 12 Economic Policy (M-POL/EP) ........................................................................................ 12 International Economic Policy (M-POL/IEP)................................................................. 13 Macroeconomic Policy (M-POL/MP) ............................................................................ 14 Seminar on Economic Policy (M-SEM/POL) ................................................................. 15 Economics Specialisations: Money, Accounting and Finance ...................................... 16 Finance (M-MAF/F) ....................................................................................................... 16 Monetary Economics (M-MAF/ME) ............................................................................. 17 Accounting (M-MAF/A) ................................................................................................. 18 Seminar on Money, Accounting and Finance (M-MAF/SEM) ...................................... 19 Electives ................................................................................................................... 20 Interdisciplinary Modules (M-INTDIS) .......................................................................... 20 Key Qualifications ..................................................................................................... 21 Key Qualifications (M-KQ) ............................................................................................ 21 Final Module............................................................................................................. 22 Master Thesis (M-MA) .................................................................................................. 22

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Research Methods

Research Methods Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Theoretical Economics (M-METH/TE) 6 credit points Elective Advanced Contents: The module introduces and deepens models of individual decisions making. Students work with models from general-equilibrium as well as game theory and connect them to microeconometric models of decision processes. Learning outcomes: Students learn how to formulate theoretical models and how to apply them to real-life questions. In particular, they learn how to translate theoretical approaches into forms that are accessible to statistical methods. Lectures, tutorials Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours English None

M.Sc. Economics and Institutions Exportmodule Method of assessment - Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Winter semester Start of module --Person responsible --Bibliographical --reference

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Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Empirical Economics (M-METH/EE) 6 credit points Compulsory Advanced Contents: This module introduces important methods in the analysis of empirical economic data. It combines statistical methods of investigation with economic theory and shows how the latter can be studied using empirical data. Learning outcomes: Students learn important methods of empirical analysis both from a theoretical as well as a practical point of view. This helps develop students’ competences to make educated comments on empirical studies and conduct their own empirical work. Lecture, tutorial. Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours English none

M.Sc. Economics and Institutions Exportmodule Method of assessment - Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Winter semester Start of module --Person responsible --Bibliographical --reference

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Institutional Economics

Institutional Economics Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Theoretical Institutional Economics (M-INST/TIE) 6 credit points Elective Advanced Contents: Information economics and mechanism design are the branch of institutional economics that uses mathematical modelling techniques. This module acquaints students with models of moral hazard and adverse selection and with mechanisms that are built to overcome the corresponding inefficiencies. Learning outcomes: Students learn to master models of institutions and to apply them to real-life questions. They become familiar with techniques of designing institutions based on a theoretical analysis of individual objectives and behavioural constraints. Lecture, tutorials Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours English None

M.Sc. Economics and Institutions Exportmodule Method of assessment - Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Winter and summer semester Start of module --Person responsible --Bibliographical --reference

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Institutional Economics

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

International Institutional Economics (M-INST/IIE) 6 credit points Elective Advanced Contents: International institutions as, e.g., international organisations or regulations at an international level as well as institutional issues of regional integration as the European Union or developing countries Learning outcomes: The objective of the module is that the students should be able to analyse and discuss critically institutions in international contexts, especially from an institutional economics perspective. The students should acquire the competence to analyse international institutional problems (governance issues) and to develop and assess institutional solutions for international economic and social problems. Lectures, tutorials Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours English None

M.Sc. Economics and Institutions Exportmodule Method of assessment - Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Summer semester Start of module --Person responsible --Bibliographical --reference

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Institutional Economics

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Law and Economics (M-INST/LAE) 6 credit points Elective Advanced Contents: Theoretical and normative issues of the economic analysis of legal rules and regulations; selected applications as, e.g., property rights, contract law, tort law, business law, consumer law, and other legal fields. Learning outcomes: The students should acquire a thorough knowledge about the field of the economic analysis of legal rules and regulations. The students should acquire the competence to analyse critically legal institutions and assess alternative legal solutions from an economic perspective. Also a basic understanding of interdisciplinary research should be achieved. Lectures, tutorial Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours English none

M.Sc. Economics and Institutions Exportmodule Method of assessment - Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Winter semester and summer semester Start of module --Person responsible --Bibliographical --reference

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Institutional Economics

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Applied Institutional Economics (M-INST/AIE) 6 credit points Elective Advanced Contents: In this module, students are introduced to applications of institutional economics concepts in various fields of economics, e. g. with regard to the role of the state in the economy or specific issues for developing countries. Issues relevant for a theoretical as well as policy-oriented analysis are discussed. Learning outcomes: Students should acquire a thorough understanding about various fields where institutional economics concepts can be applied to, and how specific problems can be analysed (e.g., in regard to specific sectors or multi-level contexts). They should develop capabilities for the critical assessment of the effectiveness of different policy instruments as incentive systems or regulation. Lectures, tutorial Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours English none

M.Sc. Economics and Institutions Exportmodule Method of assessment - Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Winter semester or summer semester Start of module --Person responsible --Bibliographical --reference

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Institutional Economics

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Public Economics (M-INST/PE) 6 credit points Elective Advanced Contents: Students learn about the role of the state in a market economy, in particular how it (i) sets rules relevant for private economic exchange, (ii) addresses issues of market failure, (iii) and how it directly intervenes into the economy using public expenditures and taxes. Learning outcomes: Students acquire a thorough understanding about the role of the state in the economy. They get to know situations, where market failures can be addressed successfully through state intervention and how state intervention can exacerbate existing problems or even create new problems. They learn how to apply economic analysis to the study of real world problems and to evaluate specific economic policies Lectures, tutorial Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours Englisch none

M.Sc. Economics and Institutions Exportmodule Method of assessment - Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Winter and summer semester Start of module --Person responsible --Bibliographical --reference

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Institutional Economics

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Cooperative Economics (M-INST/CE) 6 credit points Elective Advanced Contents: Students learn about the role of economic cooperation in natural resource management but as well as in market access, value chain development and economic performance of small and medium enterprises, in particular on the role of (i) sets rules and group characteristics relevant for cooperation, (ii) addresses limits of cooperation and hybrid organizations, (iii) and the contribution to common pool resource management, the provision of public goods and sustainability of Social Ecological Systems (SES). Learning outcomes: Students should acquire a thorough understanding about various fields where concepts of cooperative economics can be applied to, and how specific problems, even interdisciplinary challenges, can be analysed (e.g., in regard to sector encompassing or multi-level contexts). They should develop capabilities for the critical assessment of the relevance of actors’ characteristics, the effectiveness governance structures, policy implications and links to natural and other behavioral sciences. Lectures, tutorial Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours Englisch none

M.Sc. Economics and Institutions Exportmodule Method of assessment - Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Winter and summer semester Start of module --Person responsible --Bibliographical --reference 10

Institutional Economics

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Seminar on Institutional Economics (M-SEM/INST) 6 credit points Compulsory Advanced Contents: Selected problems in various fields of economics Learning outcomes: The students should learn to apply the various approaches of institutional economics to specific problems. They should acquire the competence to present their results in written and oral form, and defend their arguments successfully in academic discussions. They also should acquire skills in academic writing. Seminar Contact hours: 28 hours Preparation of the paper: 80 hours Course preparations: 40 hours Reading: 32 hours English none

M.Sc. Economics and Institutions Exportmodule Method of assessment Attendance is obligatory Paper (3 credit points) + presentation or written examination (60 min.) (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Winter and summer semester Start of module --Person responsible --Bibliographical --reference

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Economics Specialisations: Economic Policy

Economics Specialisations: Economic Policy Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Economic Policy (M-POL/EP) 6 credit points Elective Advanced Contents: Selected economic policies, as, e.g., competition policy, regulation of markets, environmental policy, innovation policy, monetary policy, tax policy social policy, policies for developing countries Learning outcomes: The students should get a deep knowledge and understanding for selected fields of economic policy, both at a theoretical and a practical level. This should enable them to analyze critically specific policies from an economic perspective and develop and assess policy solutions. Lectures, tutorials Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours English none

M.Sc. Economics and Institutions Exportmodule Method of assessment - Written examination (120 min.) or - Written examination (60 min. / 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 Semester Periodicity Winter semester Start of module --Person responsible --Bibliographical --reference

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Economics Specialisations: Economic Policy

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

International Economic Policy (M-POL/IEP) 6 credit points Elective Advanced Contents: Selected fields of international economic policies (as, e.g., trade policy, global governance) or international problems of economic and social policies Learning outcomes: The students should develop the competence for a deep and critical analysis of specific international problems of economic policies, both at a theoretical and a practical level. This should enable the students to assess specific international economic policy problems and develop policy solutions. Lectures, tutorials Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours English None

M.Sc. Economics and Institutions Exportmodule Method of assessment - Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Winter semester or summer semester Start of module --Person responsible --Bibliographical --reference

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Economics Specialisations: Economic Policy

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Macroeconomic Policy (M-POL/MP) 6 credit points Elective Advanced Contents: This module introduces students to an advanced analysis of macroeconomic phenomena. Aspects relating to macroeconomic theory as well as macroeconomic policy will be discussed. Empirical applications show the relation between theory and real-world macroeconomics. Learning outcomes: Students learn to analyse macroeconomic problems based on a thorough understanding of theoretical principles. They are aware of the possibilities and limitations of modern macroeconomic theory, obtain a good grasp of the challenges faced by macroeconomic policymakers, and are able to make educated comments on current macroeconomic problems. Lectures, tutorials Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours English None

M.Sc. Economics and Institutions Exportmodule Method of assessment - Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Winter or summer semester Start of module --Person responsible --Bibliographical --reference

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Economics Specialisations: Economic Policy

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Seminar on Economic Policy (M-SEM/POL) 6 credit points Elective (compulsory for the Specialisation in Economic Policy) Advanced Contents: Selected problems of economic policy Learning outcomes: The students should learn to analyse thoroughly specific problems of economic policy, both at a theoretical and a practical level. They should acquire the competence to present their results in written and oral form, and defend their arguments successfully in academic discussions. They also should acquire skills in academic writing. Seminar Contact hours: 28 hours Preparation of the paper: 80 hours Course preparations: 40 hours Reading: 32 hours English None

M.Sc. Economics and Institutions Exportmodule Method of assessment Attendance is obligatory Paper (3 credit points) + presentation or written examination (60 min.) (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 Semester Periodicity Winter and summer semester Start of module --Person responsible --Bibliographical --reference

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Economics Specialisations: Money, Accounting and Finance

Economics Specialisations: Money, Accounting and Finance Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Finance (M-MAF/F) 6 credit points Elective Advanced Contents: This module introduces students to an advanced analysis of business finance and capital markets. Aspects relating to capital market theory as well as specific financial issues for firms will be discussed. Learning outcomes: Students learn to analyse issues pertaining to financial markets based on a thorough understanding of theoretical principles. They are aware of the possibilities and limitations of modern finance theory, obtain a good grasp of the challenges faced by financial decision makers, and are able to make educated comments on current issues in finance. Lectures, tutorials Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours English None

M.Sc. Economics and Institutions Exportmodule Method of assessment The method of assessment may vary.

Grades/marks Duration of module Periodicity Start of module Person responsible Bibliographical reference

- Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades are awarded according to § 28 Allgemeine Bestimmungen 1 Semester Winter semester -------

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Economics Specialisations: Money, Accounting and Finance

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Monetary Economics (M-MAF/ME) 6 credit points Elective Advanced Contents: This module introduces students to an advanced analysis of monetary macroeconomics. Aspects relating to theory in monetary macroeconomics as well as policy will be discussed. Empirical applications show the relation between theory and real-world monetary macroeconomics. Learning outcomes: Students learn to analyse problems in the field of monetary macroeconomics based on a thorough understanding of theoretical principles. They are aware of the possibilities and limitations of monetary macroeconomic theory, obtain a good grasp of the challenges faced by policymakers, and are able to make educated comments on current problems in monetary macroeconomics. Lectures, tutorials Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours English None

M.Sc. Economics and Institutions Exportmodule Method of assessment - Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Winter semester Start of module --Person responsible --Bibliographical --reference

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Economics Specialisations: Money, Accounting and Finance

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Accounting (M-MAF/A) 6 credit points Elective Advanced Contents: This module introduces students to an advanced understanding of accounting principles and analysis. Aspects relating to accounting theory as well as specific accounting issues will be discussed. Learning outcomes: Students learn to analyse issues pertaining to accounting based on a thorough understanding of theoretical principles. They are aware of the possibilities and limitations of modern accounting theory, obtain a good grasp of the challenges faced by accountants, and are able to make educated comments on current issues in accounting. Lectures, ... Contact hours: 56 hours Study time: 56 hours Time for exam preparation: 68 hours English None

M.Sc. Economics and Institutions M. Sc. Betriebswirtschaftslehre Exportmodule Method of assessment The method of assessment may vary.

Grades/marks Duration of module Periodicity Start of module Person responsible Bibliographical reference

- Written examination (120 min.) or - Written examination (60 min./ 3 credit points) + Essay (3 credit points) Overall grade: Grade point average Grades are awarded according to § 28 Allgemeine Bestimmungen 1 Semester Winter semester -------

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Economics Specialisations: Money, Accounting and Finance

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload

Course language Pre-conditions of participation Module used for

Seminar on Money, Accounting, and Finance (M-MAF/SEM) 6 credit points Elective (compulsory for the Specialisation in Money, Accounting and Finance) Advanced Contents: In the context of an essay and a presentation, students study specific questions in the areas of monetary economics, accounting or finance. Learning outcomes: Students learn to apply their knowledge in the area of monetary economics, accounting and finance to specific theoretical or empirical research questions. They practice structuring and formulating a scientific argument and train their ability to follow important rules associated with scientific work. Seminar Contact hours: 28 hours Preparation of the paper: 80 hours Course preparations: 40 hours Reading: 32 hours English None

M.Sc. Economics and Institutions Exportmodule Method of assessment Attendance is obligatory Paper (3 credit points) + presentation or written examination (60 min.) (3 credit points) Overall grade: Grade point average Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 Semester Periodicity Winter and summer semester Start of module --Person responsible --Bibliographical --reference

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Electives

Electives Electives can also be chosen from those modules in the Research Methods, Institutional Economics, and the Economics Specialisations that have not yet been selected. Students may also chose from the export modules of the M.Sc. Business Administration or take language courses. Please note that all course modules must consist of 6 credit points. It is not possible to combine courses offered by different departments in one and the same module.

Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods

Interdisciplinary Modules (M-INTDIS) 6/12/18 credit points Elective Learning outcomes: These modules aim to deepen and enrich the students’ capability in assessing and understanding different cultures and disciplines and in drawing out the connections between economics and other areas of science and art. Please consult the individual module descriptions for any restrictions on admission.

Workload

Please consult the individual module descriptions for the workload involved. Course language English or German or other languages Pre-conditions of Please consult the individual module descriptions for any restrictions participation on admission. Module used for M.Sc. Economics and Institutions Method of assessment Please consult the individual module descriptions. Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 1 semester Periodicity Every semester Start of module Person responsible Bibliographical reference

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Key Qualifications

Key Qualifications Module name ECTS points Degree of obligation Level Contents

Teaching and learning methods Workload Course language Pre-conditions of participation Module used for Method of assessment Grades/marks Duration of module Periodicity Start of module Person responsible Bibliographical reference

Key Qualifications (M-KQ) 6 credit points Compulsory Contents and Learning outcomes: This module enables students to broaden their capabilities in all the relevant areas of soft skills, such as (inter-cultural) communication, project management, academic writing, gaining and presenting information. It is also designed to advance students’ interpersonal skills and, in view of the concept of lifelong learning, to improve their own learning and performance capabilities. Please consult the individual module descriptions Please consult the individual module descriptions German or English None M.Sc. Economics and Institutions Please consult the individual module descriptions Not graded Grades are awarded according to § 28 Allgemeine Bestimmungen 1 semester Every semester

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Final Module

Final Module Module name ECTS points Degree of obligation Level Contents

Master Thesis (M-MA) 30 credit points Compulsory Final Module Contents: In the Master thesis, students provide an in-depth analysis of a research question from the field of economics or quantitative methods. Learning outcomes: Students learn to apply their knowledge in the area of economics or quantitative methods to specific theory- or policy-oriented research questions using theoretical or empirical methods. They practice structuring and formulating a scientific argument and train their ability to follow important rules associated with scientific work

Teaching and learning methods Workload Course language Pre-conditions of participation

900 hours English Research Methods (12 credit points) 36 credit points in Institutional Economics and Economics Specialisations Module used for M.Sc. Economics and Institutions Method of assessment Master Thesis (writing time 6 months) Grades/marks Grades are awarded according to § 28 Allgemeine Bestimmungen Duration of module 6 months Periodicity Every semester Start of module Person responsible Bibliographical reference

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