1 Master of Science in Economics FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF...

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Master of Science in Economics

FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCESMASTER OF SCIENCE IN ECONOMICS

The Hohenheim Master in Economics Programme Details Application and Admission

Occupational Fields:

• Economics divisions of large enterprises

• Public administration (ministries, regulatory authorities, municipalities,...)

• Banking and financial services

• Research institutes and academics

• Consulting and business strategy

• Development assistance

• International organisations (e.g. United Nations, World Bank, European Union, IMF, central banks)

• Executive positions in private companies

Occupational Outlook :

• Economists are versatile generalists who boast broad intellectual and transferable skills

• Trained in hard and soft skills which are in demand in all sectors of the economy

• Specific professional knowledge that is of value in many organisations and firms

Career Perspectives for Economists

The Hohenheim Master in Economics Programme Details Application and Admission 2


Beautiful campus around late baroque castle

Integrative and interdisciplinary

structure of courses

Study economics at Hohenheim

International, intercultural: foreign students, ERASMUS,

HERMES, Eastern Europe Centre

Excellent student-teacher ratio

Located in Stuttgart -an important economic

and cultural centre

One of the largest departments in Germany: 11 teaching/research units

with more than 50 members

Academic excellence



Knowledge in

Economics and Empirical Methods:

• State-of-the-art knowledge of economic theory,

policy and institutions

• A deep understanding of interdependencies

between social, political and economic processes

• Profound education through the integration of

modern theoretical and empirical approaches

in economics

• The ability to analyse economic problems using

modern scientific methods

Innovative Teaching Approach:

• Stimulating academic environment: strong

interaction between teaching faculty, external

speakers, and students

• Soft skills through intensive team work, project

assignments, and communication

• Small group size

• Flexible, modular structure suiting students with

applied as well as research-orientated interests

• Interdisciplinary training

A Programme for Modern Generalists



Master of Science in Economics: Structure

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Master of Science in Economics

Master - Thesis 18 EP* / Master Colloquium

Methods in Economics:

1.Introductory Econometrics

2.Optimization in Economic Theory

Theoretical Foundations in Economics:

1. Advanced Macroeconomics 2. Advanced Microeconomics

Bas

ic M

odul

es/

18E

PM

ajor

and

Min

or F

ield

s /

84E

P

Major Field1

12 EP

18 E

P

large elective module

24 EP

Major Field2

12 EP

2 small elective modules

2x12 EP

or

Major Field3

12 EP

Major Field4

12 EP

Seminar 1 6 EP

Seminar 2 6 EP

Major Modules Elective Modules 60 EP* 24 EP*

9 EP*

9 EP*



• * Total of 120 European

Credit Transfer System

Points (EP)

• 4 half-years (terms) of

full time study

Theoretical Foundations in Economics

Learning Objectives

• Develop the technical skills required in modern

macroeconomic and microeconomic analysis

• Acquire a working knowledge of Game Theory

to analyse strategic behaviour

• Obtain a thorough understanding of the

fundamental workhorse models in

Macroeconomics to analyse questions, such

as the causes of unemployment, the

determinants of economic growth and the role

of fiscal and monetary policy in stabilising

business cycles

Curriculum

Advanced Microeconomics and Game Theory

9 EP

Advanced Macroeconomics

6

Prof. Dr. Ulrich Schwalbe

Prof. Dr. Thomas Beißinger



Methods in Economics

7

Curriculum

Introduction to Econometrics

9 EP

Optimization in Economic Theory

Learning Objectives

• Learn basic econometric tools needed to

understand empirical economic research.

Topics include estimation and inference in the

classical linear regression model, instrumental

variables estimation, estimation of systems of

equations by OLS, GLS and GMM, and

simultaneous equations modelling

• Understand the essentials of constrained

optimization both in static and dynamic

problems; master the formal toolkit required

for economic modelling

Prof. Dr. Gerhard Wagenhals

Prof. Gabriel Felbermayr, PhD



Major Fields: Economics

8

International Trade

Growth Economics

Public Finance

Labour Economics

EconometricsEconomic History

and History of Economic Thought

Money and Employment

Markets and Consumption

Industrial Organisation and

Competition TheoryInnovation Economics

Environmental Economics



Major Field: EconometricsProf. Dr. Gerhard Wagenhals

Learning Objectives

• Learn about advanced econometric tools needed to

understand empirical microeconomic research and to

plan and execute independent research projects.

Topics include unobserved effects panel data

models, discrete choice models, sample selection

problems, and estimation of treatment effects.

• Use advanced econometric tools to understand

empirical economic research and to plan and execute

independent research projects. Topics include the

modelling and forecasting of univariate time series, of

structural vector autoregressive systems,

cointegration analysis and vector error correction

models.

Curriculum

Microeconometrics 6EP

Topics in Advanced Econometrics 6EP

Seminar (elective) 6EP



Major Field: Economic History and History of Economic ThoughtProf. Dr. Harald Hagemann, Prof. Dr. Jochen Streb

10

Curriculum

Globalisation in Long-Term Perspective 6EP

Development of Economic Thought 6EP


Learning Objectives

• Globalisation is not a new and surprising de-

velopment of the late 20th century. We discuss

the driving forces and economic consequences

of the long-term globalisation process

• Learn about the historical development of

different schools of economic thought and

certain areas, such as business-cycle theory

• Understand the historical origins and time-

related character of economic models, and

make use of the materials of economic history

as necessary tools in the process of economic

theorizing

Prof. Dr. Harald Hagemann

Prof. Dr. Jochen Streb



Major Field: Environmental EconomicsProf. Dr. Michael Ahlheim

11

Curriculum

Resource Economics and Environmental Policy 6EP

Cost-Benefit Analysis and Environmental Valuation 6EP


Learning Objectives

In this major field students will learn about

• the economic causes of environmental problems,

• suitable instruments of environmental policy to solve

or mitigate these problems,

• assessment techniques for the economic valuation

of environmental changes,

• the principles of resource economics and

sustainable development.



Major Field: Growth EconomicsProf. Dr. Harald Hagemann

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Learning Objectives

• Acquire a thorough understanding of the process of

economic growth and the sources of differences in

economic performance across nations

• Understand the relationship between economic

growth, productivity increases, employment and the

role of new technologies

• Learn to apply theoretical concepts of modern growth

policies using empirical methods

Curriculum

Modern Economic Growth 6EP

Technology and Employment 6EP




Major Field: Industrial Organisation and Competition TheoryProf. Dr. Ulrich Schwalbe

Learning Objectives

• Gain insights into the most recent theoretical

approaches how firms behave strategically in

markets

• Apply the insights of industrial organization and

game theory to study actual problems in

competition theory and policy

• Analyse competition cases by using methods of

industrial organisation and game theory

Curriculum

Advanced Industrial Organisation 6EP

Recent Developments in Competition Theory and Policy 6EP




Major Field: Innovation EconomicsProf. Dr. Andreas Pyka

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Learning Objectives

• Understand the distinctive features of knowledge-

creation and -diffusion processes for the emergence,

development and disappearance of industries

• Learn about the role of innovation-competition, which

complements and increasingly displaces standard

price-competition in knowledge-intensive industries

• Acquire a better understanding on how the institutional

set-up of an economic system shapes the entre-

preneurial and innovative performance of an economy

• Apply tools from modern complexity theories to the

analysis of dynamic network-based innovation

processes

Curriculum

Innovation Economics: Theory and Empirics 6EP

Recent Developments in Advanced Innovation 6EP




Major Field: International TradeProf. Gabriel Felbermayr, PhD

Curriculum

Advanced International Trade: Theory 6EP

Advanced International Trade: Empirics 6EP


Learning Objectives

• Understand how globalisation affects per capita

income and inequality within countries and

across the world

• Learn about phenomena such as international

outsourcing, the emergence of multinational

firms, international migration, foreign direct

investment, or the rise of protectionism

• Apply theoretical concepts to real-life issues

using state-of-the-art empirical research

methods

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Major Field: Markets and ConsumptionProf. Dr. Michael Ahlheim, Prof. Dr. Alfonso Sousa-Poza

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Curriculum

Consumer Economics 6EP

Consumer Policy 6EP


Learning Objectives

• Acquire a in-depth understanding of how

consumers make consumption and savings

decisions across the life-cycle

• Understand when and how governments

should intervene in the economy to protect

consumers’ interests and to increase

consumer’s welfare

• Learn how to conduct empirical studies in the

field of household and consumer economics

Prof. Dr. Michael Ahlheim

Prof. Dr. Alfonso Sousa-Poza



Major Field: Money and EmploymentProf. Dr. Peter Spahn

Curriculum

Macro Theory and ECB Monetary Policy 6EP

International Monetary Policy Regimes

Open Economies and Monetary Unions


Learning Objectives

• Theoretical foundations of monetary macro-

economics are applied to ECB policies, whose two-

pillar concept serves as a starting point of Taylor

policies, inflation and monetary targeting

• A "tour d'horizon" of different monetary systems

explores leader-follower relations, economic policy

conflicts, and explains the downfall of the systems

• In open economies with flexible exchange rates,

dynamic processes are governed by purchasing

power parity and interest rate parity. Asymmetric

shocks in EMU cause national wage inflation

constituting variable real exchange rates

6EP

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Major Field: Labour EconomicsProf. Dr. Thomas Beißinger

Curriculum

Labour Markets and the Macroeconomy 6EP

Topics in Advanced Labour Economics 6EP


Learning Objectives

• Use state-of-the-art models to gain insights on socio-

economic problems, such as long-term

unemployment, or the impact of labour market

policies

• Analyse the welfare and incentive effects of labour

market institutions, such as trade unions, the un-

employment compensation system, minimum wages

and anti-discrimination laws

• Use advanced empirical methods to evaluate labour

market theories or quantify theoretical relationships

• Learn about similarities and differences of labour

markets in OECD countries

18



Major Field: Public FinanceProf. Dr. Rolf Caesar, NN from Oct 1st 2009 onwards

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Curriculum (tbc)

State and Markets 6EP

Taxation; Public Spending and Public Debt 6EP


Learning Objectives (tbc)

•Focus on market and policy failure, optimal regulation

and institution building in the EU

•Public spending may have important effects on

employment, growth and welfare

•Public debt has repercussions on the financial system

and may have to be regulated in order to maintain

macro stability

•Does the European Common Market require

adjustment of national fiscal policies or should a state

of competition be maintained, especially in the field of

taxation?



List of Elective Modules: Business, Economics and Social Sciences

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Banking and Finance

Banking and Investments

(Spezielles) Controlling

Rechnungswesen

Externe Unternehmensrechnung und Besteuerung

Externe Unternehmensrechnung und Bewertung

Umstrukturierung von Unternehmen

Spezialthemen der Unternehmensführung

Organisational Communication

Unternehmensnachfolge

Betriebswirtschaftliche Steuerlehre

Wirtschaftsprüfung (Spezialthemen der)

Produktion und Logistik

Business Optimization (Applied)

Marketing

Management

Finance & Risk Management

Management of Financial Institutions

(Spezielles) Umweltmanagement

Dienstleistungsmanagement

Medienmanagement

International Management

Health Care Management

Health Behaviour

Management Information Systems

Money and Employment

Econometrics

Industrial Organization and Competition Theory

Markets and Consumption

Public Finance

Environmental Economics

Growth Economics

Labour Economics

Economic History and History of Economic Thought

International Economics

Innovation Economics

Wirtschaftsrecht

Öffentliches Wirtschaftsrecht

Bank‑ und Börsenrecht

Personalpsychologie

Spezielle Personalpsychologie

Managementsoziologie

Spezielle Wirtschafts‑ und Managementsoziologie

Wirtschafts- und Unternehmensethik

Unternehmensethik

Dienstleistungsinformatik

Applied Information Systems



Master of Science in Economics: Admission (1)

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General Regulations

• Admission only for the winter term

• Application deadline is usually on July15th

Admission requirements

Bachelor’s degree in Economics or related studies

B.Sc. certificate must be handed in the latest on 31st December 2009

Verification of a good command of English (e.g. TOEFL or equivalent)



Master of Science in Economics: Admission (2)

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Selection procedure:

Rating scheme:

• Seminar performance

• School leave examination grade (Abitur)

• Bachelor grade

• Share ot training in mathematics/statistics

• Share of training in economics

• Letter of motivation

• Other interests and accomplishments

Candidates may be invited to an interview



Roadmap Master of Science in Economics

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• 15th July 2009: application deadline

• August/September 2009: admission notification

• 13th October 2009: beginning of the programme with an official enrolment ceremony





Contact

Dipl.-Volkswirtin Jasmin GröschlTel. +49(0)711 459 [email protected]

Weitere Informationen finden Sie auf:

www.master-economics.uni-hohenheim.de

Prof. Dr. Ulrich SchwalbeTel. +49(0)711 459 [email protected]

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