Department of Economics

In the first of two required economics modules in the Bachelor of Business Administration degree program, you will gain a comprehensive understanding of the topics and methods of microeconomics. The focus of the module is on classical microeconomic theories, which, for example, examine the demand and supply behavior of private households and companies, explain the process of pricing in different market structures, and identify and analyze possibilities for government intervention in markets.

In the field of macroeconomics, you will acquire in-depth knowledge of economic interrelationships and develop an understanding of the interdependence of macroeconomic markets. You will learn about the interplay of all market participants —private households, businesses, the government, banks, the central bank, and foreign entities — and will be able to evaluate and analyze economic policy questions.

The students gain an overview of the most important questions and methods of general economics and understand the how markets work and their challenges. They learn the basics of economic competition theory and learn how to relate it to the competitive legal environment of businesses, as well as how to apply it to case studies.

We regularly offer options in both German and English, focusing on various specialized disciplines in the field of economics. This enables students to deepen their knowledge gained from fundamental economics courses and apply it to specific problems. In addition, the course presents interdisciplinary approaches to solutions and addresses current issues in economic policy and economic research.
As an elective during the Studium Integrale in the first semester of the BA in Business Administration, we offer the English-language module Applied Rational Decision-Making.

The students discuss the characteristics and methods of making decisions about how to position a business on the market. Using economic models, they develop explanatory approaches to practical management problems, assess the social and political environment for business decisions, and formulate strategies to remain competitive.

World trade and global financial flows as well as exchange rate issues are analyzed from a macroeconomic and business perspective. The students learn how the economic policy strategies and business strategies of multinational companies are interlinked. The module also discusses the role of international institutions such as the WTO, the IMF, and the World Bank.

In this English-language module, the students become familiar with the essential economic coordination mechanisms of a market economy. They learn to distinguish between entrepreneurial, macroeconomic, and economic policy objectives, and to systematically analyze interdependencies between regulatory, monetary, and fiscal policy.