The Core Fields
Economic Theory
In the core field economic theory, courses are designed to equip doctoral students with the necessary tools to apply rigorous theoretical reasoning to all areas of economics and finance, and to introduce specific mathematical topics that are motivated by the analysis of economic problems.
Econometrics
The objective of the core field econometrics is to provide doctoral students with a broad overview of major econometric methods at the advanced level. The courses are mainly designed for future econometric users, but they also serve as a starting point for students planning to specialise in econometrics.
The Research Fields
Finance
Finance doctoral candidates tend to be well versed in the field of finance, having normally completed their master's studies in finance. In our doctoral level finance courses, students start by learning about the subjects of asset pricing, corporate finance and econometrics. The programme focuses on individual choices first, leading to the portfolio problem of optimal investment and to the question of asset pricing, which is also concerned with valuing complex financial instruments and analysing the efficiency of financial markets. In the field of corporate finance, agency considerations compound the problems. More advanced courses extend these questions to equilibrium settings. In addition, information economics in market microstructure is addressed. Other advanced topics are, for example, continuous time finance. The courses prepare students for developing theoretical models, devising methods for numerically implementing the models and finally testing them empirically on market data.
Labour Economics
Doctoral students in the field of labour economics learn the theoretical and empirical tools of modern labour economics required for engaging in successful research in this area. In courses on contract theory and advanced game theory, students are provided with the background to study the microeconomics of the labour market. Macroeconomic issues of the labour market are addressed in a course on search and matching models, with particular emphasis on wage dispersion, labour market turnover, job creation and job destruction flows. In a course on labour market institutions, institutional differences across countries are analysed, focusing in particular on the effects of minimum wages, unemployment benefit regulation and employment protection regulation. Courses on panel econometrics and microeconometrics provide students with the necessary tools to conduct empirical research in the field of labour economics.
Public Economics
Public economics deals with the issues involved in public finance and public policy. A recurring theme is the decision about when to assign responsibility to the government for levying taxes, in order to finance public spending and regulate economic affairs. Making use of microeconomic, macroeconomic and econometric techniques, both normative and positive questions are explored. The Konstanz curriculum is characterised by a strong emphasis on the political economic approach to analysing policy choice. The Konstanz department specialises in the policy fields international taxation, health care, social insurance, education and international trade.