Master of Science in Economics

1. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Master of Science in Economics The Hohenheim Master in Economics  Programme Details  Application and Admission  1

2. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Career Perspectives for Economists • 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 The Hohenheim Master in Economics  Programme Details  Application and Admission  2

3. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Integrative and interdisciplinary structure of courses One of the largest departments in Germany: 11 teaching/research units with more than 50 members Excellent student-teacher ratio International, intercultural: foreign students, ERASMUS, HERMES, Eastern Europe Centre Located in Stuttgart - an important economic and cultural centre Study economics at Hohenheim Beautiful campus around late baroque castle Academic excellence The Hohenheim Master in Economics  Programme Details  Application and Admission  3

4. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS A Programme for Modern Generalists • 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 The Hohenheim Master in Economics  Programme Details  Application and Admission  4

5. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Master of Science in Economics: Structure Master of Science in Economics 18 EP Master - Thesis 18 EP* / Master Colloquium • Major Modules Elective Modules • 60 EP* 24 EP* Major Field1 12 EP Major Field2 12 EP Major Field3 12 EP Major Field4 12 EP Seminar 1 6 EP or large elective module 24 EP 2 small elective modules 2x12 EP Seminar 2 6 EP Major and Minor Fields / 84EP • * Total of 120 European Credit Transfer System Points (EP) • 4 half-years (terms) of full time study • Methods in Economics: • Introductory Econometrics • Optimization in Economic Theory 9 EP* Basic Modules/ 18EP Theoretical Foundations in Economics: 1. Advanced Macroeconomics 2. Advanced Microeconomics 9 EP* The Hohenheim Master in Economics  Programme Details  Application and Admission  5

6. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS 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 Prof. Dr. Ulrich Schwalbe Prof. Dr. Thomas Beißinger The Hohenheim Master in Economics  Programme Details  Application and Admission  6

7. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Methods in Economics • 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 Curriculum Introduction to Econometrics 9 EP Optimization in Economic Theory Prof. Dr. Gerhard Wagenhals Prof. Gabriel Felbermayr, PhD The Hohenheim Master in Economics  Programme Details  Application and Admission  7

8. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Major Fields: Economics Economic History and History of Economic Thought Environmental Economics Econometrics Growth Economics Industrial Organisation and Competition Theory Innovation Economics Labour Economics International Trade Markets and Consumption Money and Employment Public Finance The Hohenheim Master in Economics  Programme Details  Application and Admission  8

9. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Major Field: Econometrics Prof. 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 The Hohenheim Master in Economics  Programme Details  Application and Admission  9

10. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Major Field: Economic History and History of Economic Thought Prof. Dr. Harald Hagemann, Prof. Dr. Jochen Streb • 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 Curriculum Globalisation in Long-Term Perspective 6EP Development of Economic Thought 6EP Seminar (elective) 6EP Prof. Dr. Harald Hagemann Prof. Dr. Jochen Streb The Hohenheim Master in Economics  Programme Details  Application and Admission  10

11. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Major Field: Environmental Economics Prof. Dr. Michael Ahlheim • 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. Curriculum Resource Economics and Environmental Policy 6EP Cost-Benefit Analysis and Environmental Valuation 6EP Seminar (elective) 6EP The Hohenheim Master in Economics  Programme Details  Application and Admission  11

12. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Major Field: Growth Economics Prof. Dr. Harald Hagemann • 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 Seminar (elective) 6EP The Hohenheim Master in Economics  Programme Details  Application and Admission  12

13. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Major Field: Industrial Organisation and Competition Theory Prof. 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 Organisation6EP Recent Developments in Competition Theory and Policy 6EP Seminar (elective) 6EP The Hohenheim Master in Economics  Programme Details  Application and Admission  13

14. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Major Field: Innovation Economics Prof. Dr. Andreas Pyka • 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 Seminar (elective) 6EP The Hohenheim Master in Economics  Programme Details  Application and Admission  14

15. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Major Field: International Trade Prof. Gabriel Felbermayr, PhD • 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 Curriculum Advanced International Trade: Theory 6EP Advanced International Trade: Empirics 6EP Seminar (elective) 6EP The Hohenheim Master in Economics  Programme Details  Application and Admission  15

16. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Major Field: Markets and Consumption Prof. Dr. Michael Ahlheim, Prof. Dr. Alfonso Sousa-Poza • 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 Curriculum Consumer Economics 6EP Consumer Policy 6EP Seminar (elective) 6EP Prof. Dr. Michael Ahlheim Prof. Dr. Alfonso Sousa-Poza The Hohenheim Master in Economics  Programme Details  Application and Admission  16

17. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Major Field: Money and Employment Prof. Dr. Peter Spahn • 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 Curriculum Macro Theory and ECB Monetary Policy6EP International Monetary Policy Regimes Open Economies and Monetary Unions Seminar (elective) 6EP 6EP The Hohenheim Master in Economics  Programme Details  Application and Admission  17

18. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Major Field: Labour Economics Prof. Dr. Thomas Beißinger • 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 Curriculum Labour Markets and the Macroeconomy6EP Topics in Advanced Labour Economics 6EP Seminar (elective) 6EP The Hohenheim Master in Economics  Programme Details  Application and Admission  18

19. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Major Field: Public Finance Prof. Dr. Rolf Caesar, NN from Oct 1st 2009 onwards • 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? Curriculum (tbc) State and Markets6EP Taxation; Public Spending and Public Debt 6EP Seminar (elective) 6EP The Hohenheim Master in Economics  Programme Details  Application and Admission  19

20. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS List of Elective Modules: Business, Economics and Social Sciences 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 The Hohenheim Master in Economics  Programme Details  Application and Admission  20

21. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Master of Science in Economics: Admission (1) • 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) The Hohenheim Master in Economics  Programme Details  Application and Admission  21

22. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Master of Science in Economics: Admission (2) • 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 The Hohenheim Master in Economics  Programme Details  Application and Admission  22

23. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Roadmap Master of Science in Economics • 15th July 2009: application deadline • August/September 2009: admission notification • 13th October 2009: beginning of the programme with an official enrolment ceremony The Hohenheim Master in Economics  Programme Details  Application and Admission  23

24. FACULTY OF BUSINESS, ECONOMICS AND SOCIAL SCIENCES MASTER OF SCIENCE IN ECONOMICS Contact Dipl.-Volkswirtin Jasmin Gröschl Tel. +49(0)711 459 23344j.groeschl@uni-hohenheim.de Prof. Dr. Ulrich Schwalbe Tel. +49(0)711 459 22992schwalbe@uni-hohenheim.de Weitere Informationen finden Sie auf: www.master-economics.uni-hohenheim.de The Hohenheim Master in Economics  Programme Details  Application and Admission  24