Current Curriculum (PO 2023)

The subject area Econometrics and Applied Economics helps you gain expertise in analysing and understanding complex economic issues using real world data.

You will gain knowledge in advanced econometric methods as well as statistical estimation and inference methods for micro-econometrics, macro-econometrics and financial econometrics. Moreover, the subject area will equip you with a vast understanding of applying these methods to real world data, as well as empirical research tools in the fields of labour economics, public economics and financial economics.

Compulsory Modules for Majoring:

• Applied Time Series Analysis (summer semester)
• Statistical Learning (summer semester 2023) Microeconometrics and Machine Learning (summer semester 2022) or Machine Learning (summer semester 2021) or Applied Econometrics and Machine Learning (summer semester 2020)

The subject area International Financial Economics helps you examine key issues in the area, with a focus on theoretical, institutional, policy and empirical aspects.

You will gain knowledge in analysing and managing risks as well as theoretically analyse static and dynamic models of risk management. Furthermore, different approaches for managing interest rate risks will be applied. Another topic will be portfolio management. Finally, you will gain insight into the concepts:

• Minimal versus maximal market rationality
• Inferring market consensus probabilities from observed prices
• Equilibrium sharing rules
• Behavioural bias in decision making

Compulsory Modules for Majoring until winter semester 2018/19:

• International Finance (winter semester)
• Portfolio Management (winter semester)

Compulsory Modules for Majoring starting summer semester 2019:

• Risk Management (summer semester)
• Portfolio Management (winter semester)

The subject area Macroeconomics and International Economics provides you with a comprehensive overview of macroeconomic modelling and quantitative applications.

Therefore, you will model exchange rates and their policy implications. Moreover, you will discover dynamic stochastic general equilibrium models. Consequently, you will apply these models on traditional macroeconomic issues, such as economic growth, employment, money, and consumption. From the benchmark neoclassical macroeconomic model, successive limiting assumptions are cancelled and extensions to several issues, such as heterogeneity, market incompleteness, and market frictions, are incorporated.

Compulsory Modules for Majoring:

• Advanced Macroeconomics II (summer semester)
• International Monetary Economics (summer semester)

The subject area familiarizes you with the empirical and theoretical study of economic behaviour derived from individual behaviour. This will help you understand real world phenomena, such as bubbles in financial markets or involuntary unemployment. Therefore, you will apply and test models of human decision making including rational choice as well as non-standard models.

Compulsory Modules for Majoring:

• Advanced Microeconomics II (summer semester)
• Behavioural Economics (winter semester)

In the subject area Public Economics you will engage in advanced economic analyses of public sector activities. Here, you will address questions of optimal income and commodity taxation within a general equilibrium framework. Moreover, you will examine the consequence of the rational utility maximising assumption for government activities in an economic context.

Compulsory Modules for Majoring:

•  Public Economics (summer semester) -> in the summer semester 2023 Labor Economics I is offered as an alternative
•  Pick one additional out of the following: Labor Economics I (summer semester), Labour Markets and Inequality (formerly Automation, Globalization, and Inequality or Labor Economics II, winter semester), Economics of Education (currently winter semester), Political Economy