Module Handbook (Modulhandbuch)

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1 Module Handbook (Modulhandbuch) for the Master of Science (MSc) in Economics at Ruhr-University Bochum (RUB) Last updated: 1 October 2014

2 Contents About the Program... 6 Career Prospects... 6 Admission Requirements... 7 Structure... 7 Specializations... 9 Master's Thesis Course / Exam Registration Studying Abroad Summer School (B.I.S.S.) Services for International Students Computer Lab and Internet Services Contact Persons Overall View of Faculty Which Courses to Take First? Alphabetical List of Economics Modules List of Economics Modules by Professor Module Catalog Economics Econometric Evaluation of Economic Policies Economics of Migration Empirical Economics: Selected Problems Labor Economics Microeconometrics Seminar in Microeconometrics African Economic Development Economic Reforms, Income and Poverty Empirical International Economics International Trade Seminar in Development Economics Seminar in International Economics Empirical Environmental, Resource and Energy Economics Market- and Non-Market Valuation of Environmental Goods Econometrics... 52

3 Seminar in Econometrics Applied Time Series Analysis Financial Econometrics Multivariate Statistical Methods Applied Microeconometrics) Seminar in Advanced Economics of Conflict and Peace Advanced Environmental, Energy and Ressource Economics Current Problems of Economic and Structural Policy Current Problems of Economic and Structural Policy - Seminar Energy Economics and Politics Environmental and Resource Economics 2 - Lecture Environmental and Resource Economics 2 - Seminar Räumliche Statistik und Ökonometrie Regional Economics Cost-Benefit Analysis Growth and Development Economics Shifting Wealth - Opportunities or Risks for International Development Wirtschaftsrecht I [Law of Economics I] Wirtschaftsrecht II [Law of Economics II] Wirtschaftsrecht III [Law of Economics III] Wirtschaftsrecht IV [Law of Economics IV] Public Economics Economics of Innovation Microeconomic Theory Network Economics Seminar in Applied Microeconomics Behavioral Macroeconomics Case studies in international macroeconomics Financial Macroeconomics Macroeconomic and Financial Governance Macroeconomic Project Seminar Macroeconomic Theory Topics in Advanced Macroeconomics Advanced Microeconomics Defence Economics Economic Regulation [Regulierung] Non-Traditional Applications of Microeconomic Theory Modern Industrial Organisation [Industrieökonomik] Public Enterprises [Öffentliche Unternehmen] Transportation Economics [Transportökonomik] Urban Economics Seminar in Applied Economic Policy Theory of the Welfare State Wirtschaft Ostasiens I Wirtschaft Ostasiens III Master s Thesis Master s Thesis Module Catalog Management Strategisches Konzern-Controlling Operatives Konzern-Controlling

4 Econometrics Seminar in Econometrics Applied Time Series Analysis Financial Econometrics Multivariate Statistical Methods Steuerwirkungslehre Introduction to International Taxation Besteuerung von Unternehmensumstrukturierungen Seminar zur Unternehmensbesteuerung Risikomanagement und Steuerung der Bank Bankkrisen und -regulierung Seminar Banking & Finance I Seminar Banking & Finance II Financial Reporting I Financial Reporting II Mergers & Acquisitions Mergers & Acquisitions mit Fallstudienseminar Seminar: Ausgewählte Kapitel des Accounting Wirtschaftsrecht I Wirtschaftsrecht II Wirtschaftsrecht III Wirtschaftsrecht IV Produktionstheorie Produktionscontrolling Seminar zur Produktionstheorie Seminar zum Produktionscontrolling Geschäftsprozessmanagement Umweltmanagement Seminar zum Umweltmanagement Advanced Empirical Sales and Marketing Seminar Empirical Sales and Marketing Seminar Planspielseminar Strategisches Marketing & Vertrieb Projektseminar Vertrieb und Marketing in der Praxis Sales and Marketing Research Methods Sales and Marketing Seminar Sales und Marketing Theorie Verhandlungsmanagement Vertrieb in Business-to-Business Märkten Vertrieb in Dienstleistungsmärkten Vertrieb in Luxusgütermärkten Rationales Entscheiden Management Science Seminar Management Science I Seminar Management Science II Managementvergütung Seminar zur Managementvergütung Rechtsökonomik Glücksspielökonomik Personal- und Organisationsökonomik Planspiel Existenzgründung II HRM Forschungsseminar

5 HRM Forschungsseminar Gestaltung von Arbeitsbeziehungen Kernelemente des sozialen Tauschs Change Management (in English) Strategische Unternehmensführung Management im Spannungsfeld von Märkten und Ressourcen International vergleichendes Personalmanagement Schwerpunkt Deutschland und China Internationalisation Strategies and Innovation (in English) Innovation durch Prozessmanagement Kreativitätsförderung in Unternehmen

6 About the Program The Master of Science (M.Sc.) in Economics at the Faculty of Management and Economics is an accredited two-year degree program that provides students with thorough knowledge of modern economic theories, concepts and techniques. While the Department of Economics has a firm commitment to economic theory, the main focus is on applied economics and economic policy analysis. The program is designed to enable students to identify the economic content of a problem, develop hypotheses, apply appropriate analytical tools and models, and develop policy alternatives. The full-time program is taught in English and may be commenced twice a year, in the summer or winter semester. Apart from an administrative fee of approx. 260 Euro per semester, there are no tuition fees to study at Ruhr-University Bochum. Flexibility is a key characteristic of the M.Sc. in Economics. Besides three core modules, students are offered a wide range of specialized modules to choose from. The flexible, modular structure of the program allows for a significant amount of specialization in line with individual abilities and interests. For those students who wish to follow a certain study scheme during their master s studies, the program offers two specializations, International Economics and Finance and Economic Policy. The strong interaction between teaching faculty and students, as well as the small group size, guarantee a stimulating academic environment and optimal learning conditions. The M.Sc. in Economics provides students with both theoretical and practical knowledge that is essential to take up interesting positions in the private sector and in public institutions. Moreover, the M.Sc. in Economics has a strong international orientation. As the program is taught in English, it gives local students the opportunity to develop professional English language skills necessary to work at international organizations, while at the same time attracting international students to study an English-taught program in Germany. Students also have the opportunity to study abroad at one of RUB s partner universities and take part in the faculty s international summer school. Finally, the M.Sc. in Economics also serves as an excellent preparatory degree for those students wishing to move on to a PhD program. Career Prospects A master s degree in economics provides you with a wide array of subject-specific and transferable skills, such as analytical skills, problem-solving, numeracy, communication and computing. Employers will value your understanding of decision-making, your acquired skills, and your experience of viewing problems in a domestic and international context. Endowed with these essential skills, graduates of the Master of Science in Economics are much soughtafter by the private sector and public institutions alike, and have excellent job prospects in: Ministries and government agencies, particularly those concerned with economic affairs, International organizations such as the International Monetary Fund, the World Bank, the Organization for Economic Cooperation and Development, the European Central Bank (and other central banks) as well as other European Union institutions, Think tanks, consultancy firms and economic advisory services, The private sector, especially in financial institutions such as banks and international firms, Research institutes and universities.

7 Admission Requirements Admission to the Master of Science in Economics is determined by a selection procedure that assesses a student s suitability for the program. There is no restricted admission according to grade point average ( Numerus clausus ). The examination board establishes individually whether applicants are able to fulfill the requirements for participation in the program. Requirements for admission: Bachelor s degree in economics or a related discipline (business, statistics, mathematics, political science, international relations, etc.) with at least six semesters of regular period of study (180 ECTS) and completed coursework equivalent to at least 40 ECTS (European Credit Transfer System) credit points in economics and 15 ECTS in statistics and mathematics. English language skills according to the Common European Framework of Reference for Languages of Level B2 (accepted proof at Please refer to for detailed information on the application procedure. Structure The Master of Science in Economics is a two-year (four-semester) program with coursework in the first three semesters and a master s thesis in the fourth semester. In order to graduate students need to complete a total of 120 ECTS credit points (European Credit Transfer System). It is therefore recommended that students complete 30 ECTS per semester, in order to graduate within the regular study period of four semesters. The program has a modular structure. A module is made up of either one course or several individual courses which cover similar or complementary topics and are coordinated within the curriculum. Each module is worth a certain number of credits. The number of credits reflects the amount of time you need to spend on completing the module (class times, preparing and revising materials, studying for the exam, completing all assessments, etc.). Each credit point is roughly equivalent to a workload of 30 hours. We distinguish between two types of modules: Core Modules: Macroeconomic Theory, Microeconomic Theory, Microeconometrics and Econometrics (10 ECTS workload each). We highly recommend that you comple three out of four core modules in the first year of study. While Macroeconomic Theory and Econometrics are offered in the winter semester, Microeconomic Theory and Microeconometrics are offered in the summer semester. Therefore, the order in which you complete the core modules depends on the semester you join the program (summer or winter). Specialized Modules: Every year there are about 20 different specialized economics modules offered in the fields of Applied and Theoretical Microeconomics, Empirical Economics, Energy Economics, International and Development Economics, Macroeconomics and Finance, Economic Policy etc. The class size in specialized modules is usually small (10-30 students).

8 The curriculum for the MSc in Economics is structured as follows: Curriculum for students starting in the summer semester 1st semester (summer) 2nd semester (winter) 3rd semester (summer) 4th semester (winter) Core Module Microeconometric Theory 10 ECTS Core Module Macroeconomic Theory 10 ECTS Core Module Microeconometrics 10 ECTS Core Module Econometrics 10 ECTS Specialized Modules Total of 30 ECTS Master Thesis 30 ECTS Specialized Modules Totel of 10 ECTS Specialized Modules Totel of 10 ECTS 120 ECTS Master of Science in Economics Curriculum for students starting in the winter semester 1st semester (winter) 2nd semester (summer) 3rd semester (winter) 4th semester (summer) Core Module Macroeconomic Theory 10 ECTS Core Module Microeconomic Theory 10 ECTS Core Module Econometrics 10 ECTS Core Module Microeconometrics 10 ECTS Specialized Modules Total of 30 ECTS Master Thesis 30 ECTS Specialized Modules Totel of 10 ECTS Specialized Modules Totel of 10 ECTS 120 ECTS Master of Science in Economics

9 Of the 90 ECTS that have to be acquired through coursework, a minimum of 75 ECTS need to be earned in economics modules offered by the Department of Economics (see list of economics modules in this handbook). Apart from this compulsory coursework in economics, students have the option of taking up to 15 ECTS in (a) in management modules offered at the Faculty of Management and Economics or (b) other economics-related modules taught on a masterlevel at other faculties of RUB, University Duisburg-Essen or Technical University Dortmund. If you wish to take a management module offered at the Faculty of Management and Economics prior approval is not necessary, as these courses will already be in Flex-Now (exam registration system of the faculty). Only in the latter case, if you wish to take courses outside of our faculty, please check with the program coordinator (building GC, room 4/145, whether credits can be transferred (before completing the course!). Specializations The structure of the MSc in Economics is very flexible and as such there are no compulsory modules or compulsory specializations. However, students may want to pursue a certain study scheme and specialize in a particular area of interest. For this purpose the program offers the optional specializations International Economics and Finance and Economic Policy. The specialization International Economics and Finance is devoted to deepening students' knowledge about international and development economics as well as finance and macroeconomics, including behavioral macroeconomics. On the basis of theoretical models, current policy topics are analyzed. Aspects covered include the integration of developing countries into the world economy, governance and institutions, poverty traps, macroeconomic distortions, financial crises, and disruptions in financial markets. The International Economics and Finance specialization will appeal particularly to students who expect their future careers to be in International financial organizations, central banks, development banks, commercial banks or international firms. Modules for specialization International Economics and Finance Economics of Migration (5 ECTS) International Trade (5 ECTS) African Economic Development (10 ECTS) Empirical International Economics (10 ECTS) Seminar in Development Economics (5 ECTS) Economic Reform, Income and Poverty (5 ECTS) Seminar in International Economics (5 ECTS) Seminar: Economics of Conflict and War (5 ECTS) Applied Time Series Analysis (10 ECTS) Financial Econometrics (10 ECTS) Growth and Development Economics (5 ECTS) Cost-Benefit Analysis (5 ECTS) Financial Macroeconomics (5 ECTS) Macroeconomic and Financial Governance (5 ECTS) Behavioral Macroeconomics (5 ECTS) Topics in Advanced Macroeconomics (5 ECTS)

10 The specialization Economic Policy focuses on market, regulatory and institutional aspects of policy problems at the micro- and macro-level. Practical applications of economic thought to issues in trade, monetary/finance, growth/development, health and environmental policies will be covered. The Economic Policy specialization will appeal particularly to students who expect their future careers to be in governmental agencies, NGOs, think tanks and economic advisory consultancies. Modules for specialization Economic Policy Seminar in Microeconometrics (10 ECTS) Econometric Evaluation of Economic Policies (5 ECTS) Economics of Migration (5 ECTS) Empirical Economics: Selected Problems (5 ECTS) Labor Economics (5 ECTS) African Economic Development (10 ECTS) Seminar in Development Economics (5 ECTS) Empirical Environmental, Resource and Energy Economics (5 ECTS) Market- and Non-Market Valuation of Environmental Goods (5 ECTS) Environmental and Resource Economics 2 (10 ECTS) Energy Economics and Politics (5 ECTS) Advanced Environmental, Resource and Energy Economics (5 ECTS) Current Problems of Economic and Structural Policy (5 ECTS) Regional Economics (5 ECTS) Cost-Benefit Analysis (5 ECTS) Macroeconomic and Financial Governance (5 ECTS) Behavioral Macroeconomics (5 ECTS) Topics in Advanced Macroeconomics (5 ECTS) Wirtschaftsrecht I (10 ECTS) Wirtschaftsrecht II (10 ECTS) Wirtschaftsrecht III (5 ECTS) Wirtschaftsrecht IV(5 ECTS) Network Economics (10 ECTS) Economics of Innovation (10 ECTS) Seminar in Applied Microeconomics (5 ECTS) Modern Industrial Organization (5 ECTS) Economic Regulation (5 ECTS) Seminar in Applied Economic Policy (5 ECTS) The specialization will be included on your final degree certificate. Please note that modules that appear in multiple specialization lists may be counted toward only ONE specialization. We recommend underpinning one specialization with general or methodological courses, such as Econometrics etc. Of course, you can also opt for choosing your courses according to your own preferences without obtaining any specialization. To pursue one of the two specializations, you have to obtain 40 ECTS in modules that count toward that specialization AND write your master s thesis in that specialization. Please note that due to the course offering changing every semester there may be courses added to or dropped from the list of modules giving credit towards a specialization.

11 Master's Thesis According to the regular schedule the fourth semester is reserved for writing your master s thesis, which is an independently written, scientific research paper in the area of economics. Students earn 30 ECTS for the thesis and have weeks to complete it. After successfully completing and handing in your master s thesis, you need to defend it in front of your thesis advisors. You may request any of the professors teaching at the Department of Economics to be your thesis supervisor, however, keep in mind that most professors will not supervise your master s thesis unless you have successfully completed one of their seminars first. Please refer to the module description Master s Thesis in this handbook and the applying paragraph in the Examination Regulations for more information (see Course / Exam Registration There is no prior signup or registration for courses at the beginning of a semester unless it is a seminar or a lecture with limited capacity and is announced so on the website of the respective chairs. Generally you can take all courses offered without prior registration by just attending the first session of the particular course. If you wish to complete the course and earn credits for it, you will have to officially register for the course s exam during the exam registration period, which is usually 6-8 weeks after the beginning of the semester, exact dates are announced every semester by the Examination Office ( Prüfungsamt ). In order to register for exams, you will need access to our faculty s online exam registration system FlexNow (https://www.pawiwi.ruhr-uni-bochum.de/credit-point.htm Dienste --> An- Abmeldung ). If you take a course which is not assessed through a final exam but a seminar paper instead, you still have to register for the seminar in FlexNow so that your seminar grade can be put on your grade sheet at the end of the semester. Those of you who have just enrolled at Ruhr-University Bochum and who will use FlexNow for the first time will need to obtain PIN and TAN code numbers for FlexNow first. In order to receive the code numbers, you need to apply for them at the Examination Office with the following documents: Fill out the form "Antrag auf Zulassung zu den Fachprüfungen im Bachelor- und Masterstudiengang" (download athttp://www.ruhr-uni-bochum.de/wiwipa/formulare.html) Hand-written CV (purpose: handwriting sample) Passport-size photo Current enrollment certificate ( Studienbescheinigung available at computers in the Main Administration Building, Universitätsverwaltung ) German-speaking students: Please visit for more details (Site only available in German) International students: Unfortunately the Examination Office does not provide Englishspeaking service and the exam registration system FlexNow is only available in German. Therefore, in the exam registration period you are welcome to visit the Master Coordination Office (GC 3/143), so we can help you fill out the forms and explain the procedure to you. After you have obtained the PIN and TAN code numbers, the Master Coordination Office will

12 help you to use the FlexNow system and make sure that you are properly registered for the exams you wish to take. Studying Abroad Studying abroad is not a mandatory part of the program. However, students have ample opportunities of studying abroad at one of RUB s partner universities across Europe, North & South-America, Asia and Australia. Students studying abroad via an exchange program will be exempt from all tuition fees at the host institution. You may apply for additional scholarships and grants (ERASMUS, DAAD, university scholarships). Please refer to the International Office where you will find further information and a list of all of RUB s exchange partnerships on the university-level: For further information on Erasmus Exchange partnerships of the Faculty of Management & Economics please refer to Furthermore, for those students starting in the summer semester the program offers the unique opportunity of earning a dual-degree in cooperation with the University of East Anglia (UEA) in Norwich, UK. After spending the summer semester in Bochum, you will study two subsequent semesters in Norwich. Depending on your course choice in Norwich, you may earn a MSc in Experimental Economics or a MSc in Industrial Economics from UEA. For your fourth semester, you will return to Bochum to write your master s thesis and upon completion will be awarded the MSc in Economics. RUB students in the dual-degree program will receive a rebate in tuition fees in Norwich. For further information please contact the Chair of Macroeconomics, Prof. Roos (http://economics.rub.de/nc/ls/makro.html). Important information for credit transfer: If you take a course at a foreign university which is equivalent to one of the economics courses offered in our department, you need to get the approval of the respective professor teaching said course at RUB. Otherwise you cannot transfer this course s credits. You may also take a master-level economics or management course at the foreign university for which there is no equivalent course offered at RUB. For this case the faculty has established six special dummy modules called Advanced Applied Economics I VI with a credit value of 5 ECTS each in FlexNow. Students can transfer up to 30 ECTS earned abroad by having the credits transferred to the above mentioned modules. Before going abroad, students are advised to get prior credit transfer approval by one of the faculty s economics professors for the courses they would like to take at the foreign university. By discussing transfer options beforehand, students can avoid potential problems after they return from their study abroad. Summer School (B.I.S.S.) B.I.S.S. stands for Bochum International Summer School. The B.I.S.S. offers courses during the summer break, usually in August, that are taught by both distinguished professors from abroad and faculty members from Bochum. B.I.S.S. economics and management courses are meant to be complementary to the regular course offer, i.e. they are usually not lectured during regular semesters. All courses and exams are in English. By enrolling in the B.I.S.S., students may obtain credits towards their Master s degree. Please refer to for more information. Please note that the process of getting a spot in the B.I.S.S courses is very competitive and students are not entitled to a spot even if they are master students. You need to register for the B.I.S.S. allocation process (usually in April) as described on the website.

13 Services for International Students The International Office (http://international.ruhr-uni-bochum.de/index.html.en) is an excellent contact point for all inquiries, special needs and interests of international students in Bochum. The RUBiss, the RUB s international student services, offer information on your studies, living in Bochum, certain requirements like obtaining a residence permit, extra-curricular activities and so on (http://www.international.rub.de/rubiss/index.html.en). Make sure to contact them if you are interested in German language courses. They also offer a semester program which lists various events, workshops and excursions. Of course, all events and activities are open to German students, too. There is an international welcome reception at the beginning of every semester. The exact time and place can be found on the international office s website (see above). RUBiss organizes an orientation week at the beginning of every semester to help you settle in and get started with your studies. Participation is free and is definitely worth your time. Computer Lab and Internet Services The faculty offers five computer labs with over 60 workstations for courses using computers (like introductory courses on statistical software) and for students independent work. Two computer rooms open to students throughout the day can be found in building GC: room 3/33 and room 3/39 on the third floor. When enrolling at Ruhr-University you will receive an access authorization (loginid and password) for RUB s internet services. At the same time, an address will be set up for you in the following format: With your log in information you can send and receive s, set up your own homepage and log in at computer work stations at the university. Please note that the university, especially your course instructors, will contact you mainly through this university-assigned address. Therefore, it is very important that you actively use and check your RUB-Mail (https://mail.ruhr-uni-bochum.de/). Your login-id will also be your username for e-learning platforms used by our faculty, namely Blackboard (https://e-learning.ruhr-uni-bochum.de/) or Moodle (http://moodle.ruhr-uni-bochum.de/).

14 Contact Persons If you need counseling or advice on your studies, need academic support, or have questions on admission or course requirements, please do not hesitate to contact the program coordinator. For all other inquiries, please contact the person in charge as follows: Questions regarding / information Contact person and website on Counseling, academic support, course of study, admission requirements, application, course requirements, specializations, stipends, critique Michèle Lorraine de Groot Student Counsellor GC 4/145, , Questions on examination regulations, online registration for exams, transcript of records, handing in Master thesis Enrolment, registration at RUB, official application procedure Hans Ulrich Rehhahn Examination office (Prüfungsamt) GC 1/160, Rita Pape Studierendensekretariat, Zulassungsstelle (Admission Office) SH 1/175, +49 (0) , https://www.rub.de/studium/bewerbung-undeinschreibung/zulassung/index.html Angelika Tatang SH 1/181, +49 (0) , Karsten Alt SH 1/177, +49 (0) , International Office Advice and counseling for both foreign students studying in Bochum, and students wishing to study/do an internship abroad. Additional information and advice on studying and living in Germany; tutors, social assistance. Visa and entry regulations, health insurance; steps after admission University sports Accommodation, financing (BAFÖG), culture, international students, childcare, and support for handicapped students International Office Sarah Stücken International Office/RUB International Student Services SH 1/186, +49 (0) , University sports / Hochschulsport Bochum SH 251/252, , Academic Support Group (AKAFÖ) Different offices on campus, +49 (0) ,

15 Professor Prof. Dr. Thomas Bauer Prof. Dr. Matthias Busse Prof. Dr. Hans Dirrigl Prof. Dr. Manuel Frondel Prof. Dr. Vasyl Golosnoy Overall View of Faculty Chair of Empirical Economics Phone: 0234/ International Economics Phone: 0234/ Controlling Phone: 0234/ Energy Economics and Applied Econometrics Phone: 0234/ Quantitative Analysis / Econometrics Phone: 0234/ Jun.-Prof. Dr. Sanne Hiller Prof. Dr. Helmut Karl Prof. Dr. Wilhelm Löwenstein Jun.-Prof. Dr. Maren Michaelsen Macroeconomics Phone: 0234/ Economic Policy Phone: 0234/ Development Economics Phone: 0234/ Microeconomics

16 Professor Prof. Dr. Heiko Müller Prof. Dr. Stephan Paul Prof. Dr. Bernhard Pellens Prof. Dr. Joh.-Christian Pielow Prof. Dr. Nadine Riedel Prof. Dr. Julio R. Robledo Prof. Dr. Michael Roos Prof. Dr. Jörg Schimmelpfennig Prof. Dr. Christoph M. Schmidt Prof. Dr. Christian Schmitz Prof. Dr. Marion Steven Chair of Business Taxation Phone: 0234/ Banking and Finance Phone: 0234/ International Accounting Phone: 0234/ Economic Law Phone: 0234/ Public Economics and Economic Policy Phone: 0234/ Applied Microeconomics appliedmicro.rub.de Macroeconomics Phone: 0234/ Theoretical and Aplied Microeconomics Phone: 0234/ Economics Policy and Applied Econometrics Phone: 0234/ _dad=portal30&_schema=portal30 Sales & Marketing Department Phone: 0234/ Production Management Phone: 0234/

17 Professor Prof. Dr. Brigitte Werners Prof. Dr. Jan Wieseke Prof. Dr. Stefan Winter Chair of Oprations Research and Accounting Phone: 0234/ Sales & Marketing Department Phone: 0234/ Human Resource Management Phone: 0234/

18 Further Lecturers Dr. Alfred Bischoff Mathematics Phone: 0234/ Dr. Roland Düsing Phone: 0234/ Dr. Uwe Hoffmann Dr. Barbara Wischermann Economics Law Phone: 0234/ Accounting Phone: 0234/ Zentrale Einrichtungen Kontaktdaten Dean s Office Phone: 0234/ Student Advisory Service Phone: 0234/ Examination Office Phone: 0234/ Faculty s Library Phone: 0234/ Zentrum für ökonomische Bildung (ZFÖB) Phone: 0234/ Office for practical courses Phone: 0234/ ERASMUS Phone: 0234/ Fachschaftsinitiative Phone: 0234/ Institutes

19 Institut für Unternehmensführung (ifu) Institut für Europäische Wirtschaft Development Research and Development Policy Ikf Institut für Kredit- und Finanzwirtschaft Institut für Sicherheit im E-Business (ISEB) Tel.: 0234/ Tel.: 0234/ Tel.: 0234/ Tel.: 0234/ Tel.: 0234/

20 Which Courses to Take First? In general, you are free to choose any economics course offered during a particular semester that you like in random order, as there are no compulsory modules in the Master of Science in Economics. In the end you must have gained 90 ECTS in courses and 30 ECTS in the master s thesis to be able to graduate. However, some of the following practical notes might be useful for you to decide which courses to take. We highly recommend taking three out of four core modules (Macroeconomic Theory, Microeconomic Theory, Econometrics, and Microeconometrics) in your first year of study. Although not mandatory, they provide for a good basis for all other courses. As courses in the Master of Science in Economics are rather concerned with applied economics, lecturers often expect students to work on empirical studies and sometimes even allow students to complete small applied research projects on their own. It is highly recommended to complete at least one, if not several econometrics courses. Basic to intermediate knowledge on econometrics and advanced statistics are prerequisites for many courses in economics. In general, it makes sense to learn about the general aspects of a topic first before plunging into details and case studies. Therefore, we would advise to either attend the lecture first, and then the corresponding seminar (or a seminar that is topically similar), or to take the lecture and the corresponding seminar in the same semester. Furthermore, some advanced courses might build on knowledge from previous courses or postulate certain prerequisites. In order for you to be able to study according to your individual optimal curriculum, it might be desirable to get acquainted with the chairs course offers which are of greatest interest to you. The module catalog in the back of this handbook provides syllabi and detailed descriptions on our economics course offering, including prerequisites, frequency, workload etc. After reviewing the course descriptions, we recommend that you prepare a tentative study schedule and discuss it with your program coordinator.

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