Aim, Content and Structure

This-4-semester Master program (120 ECTS) provides students with a broad education in economics with a special focus on Behavioral Economics, up-to-date empirical methods and the application to both to economic policy and governance issues. Students complete 13 modules (Research methods (3x6 ECTS), Economic Behavior (3x6 ECTS ), Governance (3x6 ECTS ), Economic Behavior meets Governance (2x6 ECTS) Corporate Governance (1x6 ECTS), Additive Skills (3x6 ECTS) and write a Master thesis (writing up period of 5 months + oral defense). Students have in-depth knowledge in behavioral economics and governance as well as profound methodological skills in empirical research techniques. They are equipped to recognize and analyze relevant challenges in the economy and society and contribute to overcoming them – taking the interdisciplinary viewpoint of Behavioral Economics. They deepen their social skills and self-competence and acquire a scientific mindset. Students are qualified for a wide array of jobs in academia, government agencies and public administration, supranational organizations, NGOs as well as multinational firms.

The Master programme qualifies students for a wide array of jobs in academia and beyond. The strong emphasis on governance and economic policy issues opens up career opportunities in government agencies and public administration, supranational organisations, NGOs as well as multinational firms. The community of German students and students from many other countries provides an inspiring learning environment. It offers the opportunities for all participants to broaden their horizon and enhance their intercultural skills.

The program consists of the following modules:

• M1 Intermediate Econometrics

Students delve into econometric models and methods, enhancing their ability to analyze complex data structures. This module equips them with the skills to select and apply appropriate estimation and testing procedures for cross-sectional, time series, and panel data, enabling them to draw meaningful conclusions while understanding the limitations of these methods.

• M2 Mathematics for Economists

The module covers the mathematical foundation for economic analysis. It equips students with essential mathematical methods for modeling static and dynamic economic systems, enhancing their ability to analyze, develop, and critically assess economic relationships with precision.

• M3 Intermediate Microeconomics

In this module, students explore the mechanics of markets and decision-making. They deepen their understanding of microeconomic models and methods, enabling them to analyze economic issues, evaluate governance structures, and develop well-founded solutions for real-world challenges.

• M4 Intermediate Public Economics

Students unpack the role of the state in market economies. The module explores public choice theory and multi-level governance, equipping students with the tools to analyze economic policy issues, assess state interventions, and critically evaluate public sector governance.

• M5 Intermediate Behavioral Economics

This module deepens students understanding of behavioral economics, equipping them with experimental tools to critically assess traditional microeconomic models and explore the complexities of human decision-making.

• M6 Foundations in Experimental Economics

In this module, students learn how to design and interpret economic experiments. It introduces them to the principles of experimental economics, equipping them with the skills to plan, conduct, and critically evaluate experiments while addressing challenges like external validity.

• M7 Evidence-Based Economic Policy

In this module, students bridge the gap between research and policy. This module explores how scientific knowledge shapes economic policy, equipping students with the tools to evaluate policy effectiveness, apply causal analysis methods, and critically assess the governance of academic research.

• M8 Research Methods

This module is designed to introduce students to advanced (quantitative) techniques for economic analysis. Students equip themselves with the skills to choose and apply appropriate methods for empirical research, critically evaluate findings, and navigate differing results to enhance their scientific expertise.

• M9 Seminar Economi Behavior meets Governance

Students apply the knowledge they have acquired during their studies to real-world issues. In this module, they explore selected topics at the intersection of economic behavior and governance, developing problem-solving skills, enhancing their presentation abilities, and refining their academic and teamwork capabilities.

• M10 Seminar in Economic Behavior

Students dive deeper into economic behavior research. This module allows them to apply their knowledge to specific research questions, enhancing their expertise in selected topics, refining research skills, and preparing for future doctoral studies with a focus on behavioral science.

• M11 Seminar in Governance

This module allows students to explore key topics in public, market, corporate, and non-profit sector governance, enhancing their critical thinking, communication, and research skills.

• M12 Topics in Corporate Governance

This module focuses on concepts and methods of business administration. Students unlock the inner workings of modern companies. This module equips them with the tools to critically analyze corporate problems, conduct market research, and understand business responses to government policies, enhancing their economic expertise and employability across industries and sectors.

• M13 Additive Skills

This module is introduced to inspire students to look beyond the scope of economics, develop their personality, and broaden their labour market opportunities.

• Master Thesis

In their master's thesis, students have the opportunity to do their own research or to join one of the research teams at the Institute of Economics and contribute to their ongoing research projects.