Preliminary Module Handbook (Vorläufiges Modulhandbuch)

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

2 Contents About the Program... 4 Admission Requirements... 4 Structure... 6 Specializations... 8 Studying Abroad Summer School (B.I.S.S.) Module Catalog Economics East Asian Economics III Econometric Evaluation of Economic Policies Economics of Migration Empirical Economics: Selected Problems Labor Economics Labor Markets in the Great Recession Population and Family Economics Microeconometrics Seminar in Microeconometrics Current Topics in Health Economics Advanced Labour Economics African Economic Development Economic Reforms, Income and Poverty Empirical International Economics International Macroeconomics 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 Seminar in Econometrics Applied Time Series Analysis Financial Econometrics Multivariate Statistical Methods Advanced Environmental, Energy and Ressource Economics Current Problems in Energy 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 Current Topics in Development Policies

3 Growth and Development Economics Wirtschaftsrecht I [Law of Economics I] Wirtschaftsrecht II [Law of Economics II] Wirtschaftsrecht III [Law of Economics III] Wirtschaftsrecht IV [Law of Economics IV] Ausgewählte Fragen des Energierechts und der Energiewirtschaft Public Economics Economics of Innovation Microeconomics I Microeconomics II Network Economics Seminar in Applied Microeconomics Advanced Seminar in Macroeconomic Research I Advanced Seminar in Macroeconomic Research II Behavioral and Complexity Macroeconomics Case studies in international macroeconomics Financial Macroeconomics Macroeconomic and Financial Governance Macroeconomics I Macroeconomics II Macroeconomics and Sustainability Macroeconomic and structural policies and institutions Advanced Microeconomics Defence Economics Economic Regulation [Regulierung] Non-Traditional Applications of Microeconomic Theory Modern Industrial Organisation [Industrieökonomik] Public Enterprises [Öffentliche Unternehmen] Seminar Theoretical and Applied Microeconomics Transportation Economics [Transportökonomik] Urban Economics Seminar in Applied Economic Policy Theory of the Welfare State Seminar on health economics and health policy: Population ageing and its challenges for health systems Module Catalog Management Econometrics Seminar in Econometrics Applied Time Series Analysis Financial Econometrics Multivariate Statistical Methods Advanced Cases in Accounting and Auditing Steuerwirkungslehre Introduction to International Taxation Besteuerung von Unternehmensumstrukturierungen Seminar zur Unternehmensbesteuerung Advanced Corporate Finance Risikomanagement und Steuerung der Bank Bankkrisen und -regulierung Seminar Banking & Finance I Seminar Banking & Finance II

4 Aktuelle Themen der Rechnungslegung Praxisseminar zu Financial Reporting 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 Ausgewählte Fragen des Energierechts und der Energiewirtschaft Produktionstheorie Produktionscontrolling Seminar zur Produktionstheorie Seminar zum Produktionscontrolling Geschäftsprozessmanagement Umweltmanagement Seminar zum Umweltmanagement Vertrieb in Business-to-Business Märkten Sales und Marketing Theorie Vertrieb in Dienstleistungsmärkten Sales and Marketing Research Methods Empirical Sales and Marketing Seminar Sales and Marketing Seminar Vertrieb in Luxusgütermärkten Advanced Empirical Sales and Marketing Seminar Verhandlungsmanagement Projektseminar - Vertrieb und Marketing in der Praxis Planspielseminar Strategisches Marketing & Vertrieb Rationales Entscheiden Management Science Seminar Management Science I Seminar Management Science II Managementvergütung Seminar zur Managementvergütung Rechtsökonomik Glücksspielökonomik Personal- und Organisationsökonomik HRM Forschungsseminar HRM Forschungsseminar Change Management (in English) Strategische Unternehmensführung Management im Spannungsfeld von Märkten und Ressourcen Masterseminar zur Personal- und Organisationsforschung Human Resource Management Innovation durch Prozessmanagement Kommunikation und Wissensaustausch in Unternehmen Kreativitätsförderung in Unternehmen Masterarbeit (Master s Thesis) Masterarbeit (Master s Thesis)

5 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. 300 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 six 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. Admission Requirements Admission to the Master of Science in Economics is restricted according to grade ( Numerus clausus ). Based on the average grade (at a bachelor level), the best applicants will be selected for participation in the program. 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. 4

6 English language skills according to the Common European Framework of Reference for Languages of Level B2 (accepted proof at Accepted proof: TOEFL* (Test of English as a Foreign Language): Minimum total score of 87 points (internet-based) IELTS** (International English Language Testing System): Minimum Overall band score 6.5 Cambridge First Certificate in English (FCE) and Cambridge Certificate in Advanced English (CAE)*** Proof of a bachelor's degree with English being the medium of instruction (Evidence of this will either need to be included on a transcript or letter from your university, both need to be officially signed and sealed.) Certified copy of the German Abitur -certificate Native speakers from Australia, Canada, Great Britain, New Zealand, and the United States are exempt English proficiency tests other than the ones listed above, and test scores older than two years from the date of application are not accepted. Please refer to for detailed information on the application procedure. * ETS can submit your TOEFL scores directly to the Master Coordination Office. The TOEFL-code for the MSc in Economics is 3296 (Institution Name: Ruhr-Universität Bochum, MSc in Economics ). Simple photocopies of TOEFL reports are not accepted! We only accept TOEFL reports directly send to us by ETS. ** A simple photocopy of your IELTS Test Report Form is accepted, as we can verify your test results online through IELTS s verification service by using your Test Report Form Number. *** A simple photocopy of your FCE or CAE certificates is accepted, if you also send us your Candidate ID and Candidate Secret Number (printed on your Statement of Entry). With these we can use CambridgeESOL s online verification service to check your certificate s authenticity. 5

7 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: Macroeconomics I/II, Microeconomics I/II (5 ECTS workload each), Microeconometrics and Econometrics (10 ECTS workload each). It is obligatory that you complete a volume of 30 ECTS out of the core modules. While Microeconomics I, Macroeconomics II and Econometrics are offered in the winter semester, Microeconomics II, Macroeconomics I 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). 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 master-level 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 2/151, econmaster@rub.de) whether credits can be transferred (before completing the course!). 6

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 Microeconomics I 5 ECTS Core Module Microeconomics II 5 ECTS Core Module Macroeconomics II 5 ECTS Core Module Microeconometrics 10 ECTS Core Module Macroeconomics I 5 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 Curriculum for students starting in the winter semester 1st semester (winter) 2nd semester (summer) 3rd semester (winter) 4th semester (summer) Core Module Microeconomics II 5 ECTS Core Module Microeconomics I 5 ECTS Core Module Macroeconomics I 5 ECTS Core Module Econometrics 10 ECTS Core Module Macroeconomics II 5 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 7

9 Specializations Besides the elective compulsory modules, the structure of the MSc in Economics is very flexible and as such there are 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. 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. 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. Advanced Environmental, Energy and Ressource Economics Advanced Microeconomics International Economics and Finance Economic Policy African Economic Development X X Applied Time Series Analysis Behavioral and Complexity Macroeconomics X X Case studies in international macroeconomics Cost Benefit Analysis X X Current Problems of Economic and Structural Policy Current Problems of Economic and Structural Policy Seminar Current Topics in Development Policies X X X X X X X 8

10 Current Topics in Health Economics Defence Economics East Asian Economics III Econometric Evaluation of Economic Policies Econometrics Economic Reforms, Income and Poverty Economic Regulation [Regulierung] Economics of Innovation International Economics and Finance Economic Policy x X CORE MODULE Economics of Migration X X Empirical Economics: Selected Problems Empirical Environmental, Resource and Energy Economics Empirical International Economics Energy Economics and Politics Environmental and Resource Economics 2 Lecture Environmental and Resource Economics 2 Seminar Financial Econometrics Financial Macroeconomics Growth and Development Economics International Trade Labor Economics Labor Markets in the Great Recession Macroeconomic and Financial Governance X X Macroeconomic and structural policies and institutions Macroeconomic Theory Macroeconomics and Sustainability Market and Non Market Valuation of Environmental Goods Microeconometrics Microeconomic Theory Modern Industrial Organisation [Industrieökonomik] Multivariate Statistical Methods Network Economics Non Traditional Applications of Microeconomic Theory Population and Familiy Economics X X X X X X X X X X X X X X x X CORE MODULE X X CORE MODULE CORE MODULE Public Economics X X Public Enterterprises (Öffentliche Unternehmen) Räumliche Statistik und Ökonometrie Regional Economics Seminar in Applied Economic Policy Seminar in Applied Microeconomics Seminar in Development Economics X X Seminar in Econometrics X X X X X X 9

11 Seminar in International Economics Seminar in Microeconometrics Theory of the Welfare State Transportation Economics [Transportökonomik] Urban Economics Wirtschaftsrecht I [Law of Economics I] Wirtschaftsrecht II [Law of Economics II] Wirtschaftsrecht III [Law of Economics III] Wirtschaftsrecht IV [Law of Economics IV] International Economics and Finance X Economic Policy X X X X X 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 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 twelve special dummy modules called Advanced Applied Economics I VI and Advanced Management and Application 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 (but still up to 15 ECTS in the field of Management). 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 10

12 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. 11

13 Module Catalog Economics 12

14 Module title Verantwortliche Einheit Lecturer Module can be used as Frequency and time Type of module Short description/qualification targets East Asian Economics III Chair in East Asian Economics Andreosso-O Callaghan Elective in economics or management for the master s program: M.Sc. in Economics, M.Sc. in Management and Economics and M.Sc. in Management Every semester Lecture Growth and regulation policy in China, Japan or Korea (2 credit hours) and seminar: Selected Issues of East Asian Development (2 credit hours). The aim of the lecture is to familiarize students with economic models and methods and their applications to the development processes in China, Japan or Korea. The lecture concentrates on issues in the field of process policies, structural policies and regulatory policy, and on selected, relevant management issues (corporate governance, international company cooperation in Joint Ventures, labor relations) and their changes in the development process of the last decades. The aim of the seminar is to familiarize students with the utilization of economic methods to analyze selected issues of East Asian development and to deepen the knowledge gained in the lecture. Students will also participate actively in class discussions, including presentations of their research. Prerequisites Composition of module grade Imparted soft skills Medium of instruction Knowledge of Growth and Development Economics and International Trade is beneficial.. Final exam (90 minutes, 50%), seminar paper (5000 words, 40%), presentation (10%) English Analytical thinking Independent studying and learning Project/time management Literature research and documentation Presentation of scientific results Presentation techniques/language competencies Team work and capacity for team work Ability to give and receive criticism 13

15 Credit points and workload Maximum number of participants Learning material and relevant literature 10 ECTS, Total workload: 300 hours 40 Literature will be provided in Blackboard. 14

16 Module title Responsible unit Lecturer Module can be used as Frequency and time Type of module Qualification targets Econometric Evaluation of Economic Policies Chair for Empirical Economics Bauer/ Schmidt Elective in economics for the master s program: M.Sc. in Economics, M.Sc. Management and M.Sc. in Management and Economics Every two years in the winter semester Lecture (1 credit hour), literature seminar (1 credit hour) After participation, the students should be able to understand the newest econometric techniques developed for the evaluation of economic policies. They should understand their basic identification strategy, the necessary data to implement these strategies as well as the main problems of these strategies. The module aims to give the students the necessary skills to read and understand the scientific literature in this area and to give a critical assessment of empirical evaluation studies. Short description Tight public budgets increase the need to learn more about the effectiveness and efficiency of public policy measures. The empirical evaluation of these policies, however, is connected with difficult methodological problems. This module discusses the newest developments in the literature on the empirical evaluation of economic policy measures. A lecture introduces the basic concepts. Central contributions to the literature will be presented by the students themselves and discussed by the participants in a detailed way. Prerequisites Advanced knowledge of empirical research and/or econometrics is required. Composition of module grade Homework (50%), presentation (50%) Imparted soft skills Medium of instruction English analytical and logical thinking independent learning and working project and/or time management literature research and documentation scientific presentation skills rhetoric/presentation techniques teamwork critical thinking 15

17 Credit points and workload Maximum number of participants Learning material and relevant literature 5 ECTS Total workload: 150 hours 30 participants List of literature (journal articles) will be provided in the course. 16

18 Module title Responsible unit Lecturer Module can be used as Frequency and time Type of module Qualification targets Short description Economics of Migration Chair for Empirical Economics Bauer/ Schmidt Elective in economics for the master s program: M.Sc. in Economics, M.Sc. in Management and Economics and M.Sc. in Management Every two years in the winter semester Lecture (1 credit hour), literature seminar (1 credit hour) After participation, the students should be able to understand the most important theoretical models in the economics of migration as well as the empirical evidence concerning issues in this area. The module aims to give the students the necessary skills to read and understand the scientific literature in this area and to give a critical assessment of empirical studies and policy measures. Whether immigration can solve the problems connected to the demographic change, the problem of the economic and social integration of immigrants or whether the EUenlargement will lead to dramatic East-West migration flows are very important topics on the political agenda in almost all developed countries and source of heated public debates. This module aims to introduce the participants to the economics of migration. In a basic lecture, the participants are introduced to the basic theoretical and empirical concepts of the three main topics of the economics of migration: (i) the migration decision; (ii) the economic and social integration of migrants; and (iii) the economic effects of migration on natives. The students will then be assigned to present major publications on the economics of migration in order to deepen the knowledge obtained through the lecture. Prerequisites Advanced knowledge of empirical research and/or econometrics is required. Composition of module grade Homework (50%), presentation (50%) Imparted soft skills analytical and logical thinking independent learning and working project and/or time management literature research and documentation scientific presentation skills rhetoric/presentation techniques teamwork critical thinking 17

19 Medium of instruction Credit points and workload Maximum number of participants Learning material and relevant literature English 5 ECTS Total workload: 150 hours 30 participants List of literature (journal articles) will be provided in the course. 18

20 Module title Responsible unit Lecturer Module can be used as Frequency and time Type of module Short description/qualification targets Prerequisites Composition of module grade Imparted soft skills Medium of instruction Credit points and workload Maximum number of participants Learning material and relevant literature Empirical Economics: Selected Problems Chair for Empirical Economics Bauer and postdoctoral candidates from the RWI Elective in economics for the master s program: M.Sc. in Economics, M.Sc. Management and M.Sc. in Management and Economics Every summer semester Lecture (2 credit hours) This module deals with the advanced analysis of specific topics in the field of empirical economics (e.g., labor economics, health economics, or education economics). In a basic lecture, the participants are introduced to the theoretical and empirical concepts of the topic. The lectures will also review some important empirical studies of the topic, explaining the way the economic problem was represented by an econometric model. The students will then be assigned to present major publications of the research field in order to deepen the knowledge obtained through the lecture. Knowledge of empirical research and/or econometrics is required. Final exam analytical and logical thinking independent learning and working project and/or time management literature research and documentation scientific presentation skills rhetoric/presentation techniques teamwork critical thinking English 5 ECTS Total workload: 150 hours (Contact hours: 30 hours; Individual study: 120 hours) 50 participants List of literature (journal articles) will be available in the course. 19

21 Module title Responsible unit Lecturer Module can be used as Frequency and time Type of module Short description / Qualification targets Prerequisites Composition of module grade Imparted soft skills Medium of instruction Labor Economics Chair for Empirical Economics Bauer and teaching assistants Elective in economics for the master s program: M.Sc. in Economics, M.Sc. Management and M.Sc. in Management and Economics Summer semester Lecture (2 credit hours), tutorial (1 credit houre) The labor market affects the daily lives and the welfare of every individual directly. Hence, the analysis of labor markets is of importance and interest not only to economists but to the population at large. Labor economics is a very challenging and a stimulating area in economics due to the special characteristics of the labor market. For example, different to capital workers are not commodities with fixed characteristics and make decisions about the nature of their participation in the labor market. Institutions affect the labor market much more than any other market. The aim of this module is to give an understanding of the distinctive features of labor markets and the ways in which they operate. Among other things, we will analyze labor supply, labor demand, human capital, and the role of different labor market institutions and labor market policies for wages and employment. Throughout the module, we attempt to integrate theoretical issues and empirical evidence, and to address questions of policy. The latter will concentrate on European issues. Knowledge of microeconomics is required. Prior coursework in the B.Sc. module "Grundlagen der Empirischen Wirtschaftsforschung" is recommended. Final exam (90 minutes) English analytical and logical thinking independent learning and working project and/or time management literature research and documentation scientific presentation skills rhetoric/presentation techniques teamwork critical thinking Credit points and workload 5 ECTS 20

22 Total workload: 150 hours Maximum number of participants Learning material and relevant literature No restriction Cahuc/Zylberberg (2004), Labor Economics. Cambridge: The MIT Press. 21

23 Module title Responsible unit Lecturer Module can be used as Frequency and time Type of module Short description/qualification targets Labor Markets in the Great Recession Chair of Empirical Economics Dr. Ronald Bachmann (RWI) Elective in economics for the master s program: M.Sc. Economics, M.Sc. Management and M.Sc. Management and Economics Summer semester Seminar (2 credit hours) The aim of this seminar is to understand the development of the labor markets of industrialized countries during the recent Great Recession. Applying their knowledge of theoretical models and empirical methods, the students are expected to critically assess the state of the academic literature in this context. The results of their research should enable them to answer a precise research question in this context by writing a seminar paper and presenting this paper during a two-day seminar. Prerequisites Advanced knowledge of economic theory and microeconometrics is required. Composition of module grade Imparted soft skills Medium of instruction Credit points and workload Maximum number of participants 50% term paper (20 pages) 30% presentation (20 minutes) 20% involvement in discussion English analytical and logical thinking independent learning and working project and/or time management literature research and documentation scientific presentation skills rhetoric/presentation techniques teamwork critical thinking 5 ECTS, 150 hours of work 20 participants Learning material and relevant literature 22

24 Module title Responsible unit Lecturer Module can be used as Frequency and time Type of module Population and Family Economics Chair of Empirical Economics Dr. Sandra Schaffner (RWI) Elective in economics for the master s program: M.Sc. Economics, M.Sc. Management and M.Sc. Management and Economics Summer semester Lecture (1 credit hour), literature seminar (1 credit hour) Short description This module aims to introduce the participants to some of the main issues that play a role in the field of population, demography and family from the perspective of economics. This covers the demographic change, fertility, marriage, labour supply of women, schooling, migration, health and mortality. In the first part, there is a brief introduction in the economic models whereas the second part consists of applied econometric literature that analyses the subjects. Prerequisites Advanced knowledge of empirical research and/or microeconometrics is required. Composition of module grade Imparted soft skills Medium of instruction Credit points and workload Maximum number of participants 50% Final exam 50% presentation English analytical and logical thinking independent learning and working project and/or time management literature research and documentation scientific presentation skills rhetoric/presentation techniques teamwork critical thinking 5 ECTS, 150 hours of work 30 participants Learning material and relevant literature 23

25 Module title Responsible unit Lecturer Module can be used as Frequency and time Type of module Qualification targets Short description Microeconometrics Chair for Empirical Economics Bauer and postdoctoral candidates from the RWI Elective in economics for the master s program: "M.Sc. in Economics" Every summer semester Lecture (2 credit hours), tutorial (2 credit hours) By the end of this course, students should be able to understand and evaluate empirical studies based on micro data and to be proficient in the subject-related terminology. Moreover, they should have the ability to conduct small empirical projects independently by making use of the econometric software package STATA. This module deals with the advanced analysis of econometric methods applicable to micro data. In particular, discrete choice and selection models as well as advanced empirical evaluation methods are covered. Within the lecture, the participants are introduced to the theoretical concepts of the methods. Within the tutorials, these methods are applied to real world data by making use of the econometric software package STATA. Prerequisites Advanced knowledge of empirical research and/or econometrics is required. Composition of module grade Imparted soft skills Medium of instruction Credit points and workload Maximum number of participants 50% Final Exam 50% Assignments English analytical and logical thinking independent learning and working project and/or time management literature research and documentation scientific presentation skills rhetoric/presentation techniques teamwork critical thinking 10 ECTS, Total workload: 300 hours (Contact hours: 60 hours; Individual study: 240 hours) 30 participants 24

26 Learning material and relevant literature Bauer/Fertig/Schmidt (2009), Empirische Wirtschaftsforschung Eine Einführung. Springer Verlag: Berlin. Cameron/Trivedi (2005), Microeconometrics: Methods and Applications. Cambridge University Press. 25

27 Module title Responsible unit Lecturer Seminar in Microeconometrics Chair for Empirical Economics Bauer and teaching assistants Module can be used as Elective within the Master program in Economics (conferring the degree MSc in Economics) Frequency and time Type of module Qualification targets Short description Prerequisites Composition of module grade Imparted soft skills Medium of instruction Credit points and workload Yearly in the winter semester Seminar (4 credit hours) By the end of this course, students should be able to understand and evaluate empirical studies based on micro data and to conduct small empirical projects independently. Based on their analyses, students should learn to write a scientific paper and to present their research results to the class. This module deals with the econometric analysis of micro data. The first lectures will review the basic econometric methods and introduce the participants into the software package STATA. Afterwards, the students work on their own empirical project. As part of this project, the students review the relevant literature, identify their research question, prepare the underlying data, and empirically analyze the data by applying basic and advanced econometric methods. The results of the projected are presented to the class and documented in a term paper. Advanced knowledge of empirical research and/or microeconometrics is required. Basic knowledge of STATA is helpful. 50% Termin paper 30% presentations 20% involvement in discussions English analytical and logical thinking independent learning and working project and/or time management literature research and documentation scientific presentation skills rhetoric/presentation techniques teamwork critical thinking 10 ECTS, 300 hours of work (60 hours in classes and 240 hours individual study time) 26

28 Maximum number of participants Learning material and relevant literature 20 participants Cameron/Trivedi (2005), Microeconometrics: Methods and Applications. Cambridge University Press. Cameron/Trivedi (2009), Microeconometrics using Stata. Stata Press. List of continuative literature (journal articles) will be provided in the course. 27

29 Name of module Responsible Chair Lecturer Applicability Frequency and time Teaching mode Description of contents and qualification targets Participation requirements Composition of module mark Mediated soft skills Current Topics in Health Economics Chair of Empirical Economics Dr. Ansgar Wübker (RWI) Optional module for MSc in Economics students Optional module for MSc in Management and Economics students Annually (summer term) Seminar (2 credit hours) (2 SWS) In this seminar students will prepare a term paper based on current themes in the field of health economics. The topics will cover both empirical and theoretical contributions. Students will thus have the possibility to acquire the necessary knowledge and methodological skills for the successful completion of a master thesis in health economics and related fields. Students will prepare their seminar papers in the first half of the semester and present their papers in the second half of the semester. Further course details will be given at the introductory meeting. None: However, sufficient proficiency in microeconomics and microeconometrics in order to be able to read and understand the current international theoretical or empirical literature is strongly recommended. 65% Seminar paper (15 pages) 25% Presentation (20 minutes) 10% Participation in the discussions Analytical thinking Independent studying and learning Project/time management Literature research and documentation Presentation of scientific results Presentation techniques/language competencies Team work and capacity for team work Ability to give and receive criticism Language of lecture Credits and amount of work English 5 ECTS, Workload of 150 hours Maximum number of participants Learning material and relevant literature 30 Literature will be provided in Blackboard 28

30 Module title Responsible unit Lecturer Module can be used as Frequency and time Type of module Qualification targets Short description Advanced Labour Economics Chair of Empirical Economics Dr. Ronald Bachmann (RWI) Elective in economics for the master s program: M.Sc. in Economics, M.Sc. Management and M.Sc. in Management and Economics Winter semester Lecture (1 credit hour), literature seminar (1 credit hour) Get to know the search and matching model of the labour market; understand the main theoretical mechanisms of the model as well as its empirical validity; understand thoroughly one scientific article in this field, and be able to concisely summarize the article (on paper), as well as to give a presentation on this article. The aims of this lecture / literature seminar are (i) to understand current labour market models, in particular the search and matching model of the labour market; (ii) to be able to assess the empirical validity of these models; (iii) to explore how these models can help in explaining labour market features such as the cyclicality of unemployment and the impact of institutions on employment and unemployment rates; (iv) acquire in-depth knowledge of one scientific article, (v) briefly summarize this article, and present the articel to the other students. The first part of the lecture will therefore offer an introduction to these models. The second part of the lecture will deal with scientific articles, both theoretical and empirical, examining specific topics in this context. Every student will be assigned one article, which he/she will summarize in 2 pages, as well as present the paper to the other students. Prerequisites Advanced knowledge of economic theory and microeconometrics is required; knowledge of labor economics is useful, so having taken the course Labor economics by Prof. Bauer is recommended. Composition of module grade Imparted soft skills 50% exam (45 minutes) 20% paper summary (2 pages) 20% presentation (20 minutes) 10% involvement in discussion analytical and logical thinking 29

31 independent learning and working project and/or time management literature research and documentation scientific presentation skills rhetoric/presentation techniques teamwork critical thinking Medium of instruction Credit points and workload Maximum number of participants Learning material and relevant literature English 5 ECTS Total workload: 150 hours 30 participants Rogerson, R., and R. Shimer (2011), Search in Macroeconomic Models of the Labor Market. Handbook of Labor Economics 4A: Amsterdam: North-Holland. Cahuc, P., S. Carcillo and A. Zylberberg (2014), Labor Economics. 2 nd edition. Cambridge, MA: The MIT Press. 30

32 Module title Responsible unit Lecturer Module can be used as Frequency and time Type of module Short description/qualification targets African Economic Development Chair of International Economics Busse and teaching assistants Elective in economics for the master s program: M.Sc. in Economics, M.Sc. Management and M.Sc. in Management and Economics Winter semester Lecture (2 credit hours), tutorial (2 credit hours) and seminar (2 credit hours) The aim of this course is to increase the capacity of students to use their knowledge of economic theory and development economics in rigorous analysis of a subset of the critical issues facing policy makers in sub-saharan Africa. The focus is on sectoral and microeconomic, as well as macroeconomic issues in Africa. African Economic Development, consisting of a lecture and a seminar, intends to explain the reasons for the continued widespread poverty throughout the continent. The heterogeneity of African economies is stressed and students are expected to focus their written work (i.e., the seminar paper) on particular countries, sectors, and issues. The course also emphasizes the importance of a detailed grasp of economic history as a basis for critically assessing generalized debates on the determinants of recent economic performance. Topics covered include, among others, human capital, geography and health, trade and foreign direct investment, HIV/AIDS, institutions and governance, ethnic and linguistic divisions, and conflicts. Prerequisites Macroeconomic Theory and Econometrics / Microeconometrics ; knowledge of Growth and Development Economics is beneficial. Imparted soft skills Composition of module grade analytical and logical thinking independent learning and working project and/or time management literature research and documentation scientific presentation skills rhetoric/presentation techniques teamwork critical thinking Final exam (90 minutes, 50%), term paper (12-15 pages, 25%) and presentation (25%) 31

33 Medium of instruction Credit points and workload Maximum number of participants Learning material and relevant literature English 10 ECTS, Total workload: 300 hours 20 students Essential readings and seminar topics will be announced in the first session of the course. 32

34 Module title Responsible unit Lecturer Module can be used as Frequency and time Type of module Short description/qualification targets Economic Reforms, Income and Poverty Chair of International Economics Busse and teaching assistants Elective in economics for the master s program: M.Sc. in Economics, M.Sc. Management and M.Sc. in Management and Economics Irregular, at least once every two years Seminar (2 credit hours) By enrolling in this course, students can learn theoretical concepts underlying the impacts of economic reform. The course will focus on key elements of economic reform programs, for example, programs implemented in the context of PRS (Poverty Reduction Strategy) or trade reforms from a theoretical and empirical point of view. Also, students will hone their skills to assess problems of implementation and evaluate economic reform programs. By the end of the course, students are able to discuss economic reform programs and their income and poverty effects by applying the acquired theoretical knowledge. Prerequisites Econometrics / Microeconometrics and International Trade ; knowledge of Growth and Development Economics is beneficial. Composition of module grade Term paper (12-15 pages, 50%) and presentation (50%) Imparted soft skills Medium of instruction Credit points and workload Maximum number of participants Learning material and relevant literature English analytical and logical thinking independent learning and working project and/or time management literature research and documentation scientific presentation skills rhetoric/presentation techniques teamwork critical thinking 5 ECTS, Total workload: 150 hours 20 students Essential readings and seminar topics will be announced in the first session of the course. 33

35 Module title Responsible unit Lecturer Module can be used as Frequency and time Type of module Short description/qualification targets Empirical International Economics Chair of International Economics Busse and teaching assistants Elective in economics for the master s program: M.Sc. in Economics, M.Sc. Management and M.Sc. in Management and Economics Irregular, at least once every two years Seminar (2 credit hours) and tutorial (STATA introduction, 2 credit hours) This is a course in applied empirical methods in international economics and/or development economics. It is devoted to deepening your knowledge about international/development economics by applying empirical techniques to current problems that are relevant from a policy perspective. Students will write their own research paper, focusing on an empirical application. Students will also participate actively in class discussions, including presentations of their research. To help students to conduct their research, an optional introduction into the econometric software package STATA will be offered. Prerequisites Econometrics / Microeconometrics and International Trade Composition of module grade Term paper (12-15 pages, 2/3) and presentation (1/3) Imparted soft skills Medium of instruction Credit points and workload Maximum number of participants English analytical and logical thinking independent learning and working project and/or time management literature research and documentation scientific presentation skills rhetoric/presentation techniques teamwork critical thinking 10 ECTS, Total workload: 300 hours 20 students Learning material and relevant Essential readings and seminar topics will be announced in 34

36 literature Module title Responsible unit Lecturer Module can be used as Frequency and time Type of module Short description Prerequisites the first session of the course. International Macroeconomics Chair of International Economics Busse and teaching assistants Elective in economics for the master s program: M.Sc. in Economics, M.Sc. Management and M.Sc. in Management and Economics Irregular, at least once every two years Lecture (2 credit hours) and tutorial (1 credit hour) This module offers a broad and advanced study of international monetary economics. The theory presented covers a comprehensive range of topics including exchange rate determination, monetary and fiscal policies in open economies and an introduction to international financial institutions. International financial markets and institutions affect everyday life, involve very large flows of funds, and influence the production of goods and services of almost every single country. The insights provided by the theoretical frameworks will enable students to discuss topics related to international financial markets such as the single currency in Europe. Macroeconomic Theory recommended Composition of module grade Final exam (100%) Imparted soft skills Language of instruction Credit points and workload Maximum number of participants Learning material and relevant literature English Analytical thinking Independent studying and learning Project/time management Literature research and documentation Presentation of scientific results Presentation techniques/language competencies Team work and capacity for team work Ability to give and receive criticism 5 ECTS; 150 hours of work No limitation Essential readings will be announced in the first session of the course. 35