Fachbereich 02: Wirtschaftswissenschaften - Master-Studiengang Betriebs- und Volkswirtschaftslehre (M.Sc.) - VWL-Module

Structure: Lecture + Tutorial
Rhythm: Summer semester
Credits: 6 CP
Course Code: 02-VWL:MSc-V1-1
Language: English
Required work: Final exam (85%) + Assignments (10%) + Participation (5%)
Lecturers: Univ.-Prof. Dr. Georg Götz
Possible Major: Economics, Economics of Global Risk

Course Description:
You can find the most recent information to this course here. The recordings of the lecture from the summer term 2020 can be found on the chairs Youtube channel Economics2Go; in the playlist Economics of Regulation:https://www.youtube.com/c/Economics2Go

This course deals with network industries like electricity, gas and water supply as well as with the telecommunication sector and how to regulate them. A special focus is laid on the consequences of the asymmetric distribution of information among the agents active in these sectors. Here, one might think of product markets characterized by uncertainty about qualities and prices as well as labor markets, insurance markets, or financial markets. These markets are characterized by endogenous information that is generated by some market participants; behavior affecting other market participants; behavior. As a consequence, the market mechanism may be distorted or even fail.

Literature:
Paul Joskow: Regulation of Natural Monopolies August 2006, mimeo, MIT, a review article published in the Handbook of Law and Economics, 2007.

Recent developments in the theory of regulation, published in the Handbook of Industrial Organization (Vol. III), edited by M. Armstrong and R. Porter. This article provides an in-depth treatment of the theory of regulation under asymmetric information.

Regulation, Competition, and Liberalization. Journal of Economic Literature Vol. XLIV (June 2006), pp. 325–366. This article offers insights into the regulatory practice and discusses if and how effective competition can be created in sectors, which are at least partly natural monopolies.

K. Viscusi, J. Harrington, J. Vernon, Economics of regulation and antitrust. 4th. ed. MIT Press 2005;
Borrmann, J. und Finsinger, J., Markt und Regulierung. Verlag Vahlen 1999.

David Newbery, 1999, Privatization, Restructuring, and Regulation of Network Industries, MIT Press offers an excellent combination of theoretical insights and specific case studies, in particular with respect to the liberalization process.

Pepall, Richard, and Norman (PRN): Industrial Organization: Contemporary theory and practice, South Western, 3rd edition. 2005. Introduction to Economic Analysis by R. Preston McAfee.

This course will be held in presence and in English.

Structure: Lecture + Tutorial
Rhythm: Summer semester
Credits: 6 CP
Course Code: 02-VWL:MSc-V1-1
Language: English
Required work: Final exam (85%) + Assignments (10%) + Participation (5%)
Lecturers: Univ.-Prof. Dr. Georg Götz
Possible Major: Economics, Economics of Global Risk

Course Description:
You can find the most recent information to this course here. The recordings of the lecture from the summer term 2020 can be found on the chairs Youtube channel Economics2Go; in the playlist Economics of Regulation:https://www.youtube.com/c/Economics2Go

This course deals with network industries like electricity, gas and water supply as well as with the telecommunication sector and how to regulate them. A special focus is laid on the consequences of the asymmetric distribution of information among the agents active in these sectors. Here, one might think of product markets characterized by uncertainty about qualities and prices as well as labor markets, insurance markets, or financial markets. These markets are characterized by endogenous information that is generated by some market participants; behavior affecting other market participants; behavior. As a consequence, the market mechanism may be distorted or even fail.

Literature:
Paul Joskow: Regulation of Natural Monopolies August 2006, mimeo, MIT, a review article published in the Handbook of Law and Economics, 2007.

Recent developments in the theory of regulation, published in the Handbook of Industrial Organization (Vol. III), edited by M. Armstrong and R. Porter. This article provides an in-depth treatment of the theory of regulation under asymmetric information.

Regulation, Competition, and Liberalization. Journal of Economic Literature Vol. XLIV (June 2006), pp. 325–366. This article offers insights into the regulatory practice and discusses if and how effective competition can be created in sectors, which are at least partly natural monopolies.

K. Viscusi, J. Harrington, J. Vernon, Economics of regulation and antitrust. 4th. ed. MIT Press 2005;
Borrmann, J. und Finsinger, J., Markt und Regulierung. Verlag Vahlen 1999.

David Newbery, 1999, Privatization, Restructuring, and Regulation of Network Industries, MIT Press offers an excellent combination of theoretical insights and specific case studies, in particular with respect to the liberalization process.

Pepall, Richard, and Norman (PRN): Industrial Organization: Contemporary theory and practice, South Western, 3rd edition. 2005. Introduction to Economic Analysis by R. Preston McAfee.

This course will be held in presence and in English.

Structure: Lecture + Tutorial
Rhythm: Summer semester
Credits: 6 CP
Course code: 02-VWL:MSc-V1-3
Language: English
Required work: Final exam (80 %) + Assignments (10 %) + Participation (5%) + Group paper and presentation (5 %)
Lecturers: Univ.-Prof. Dr. Georg Götz
Possible Major: Economics, Management

Course Description:
This course gives an overview over the economic study of innovation and the production of new goods and services. Students will learn about the importance of the research and development activities of firms and how they are influenced by public policy in general and by the patent system in particular. The course introduces patent races, the economics of licensing, and the study of adoption and diffusion of new technology. A further topic concerns R&D cooperation with a focus on the working of Research Joint Ventures. Throughout the course we will discuss the Schumpeterian themes of the relation between market structure, firm size and innovation. The course will also evaluate current technology policy as implemented in various countries. A seminar-like part will conclude the course with various case studies of firms’ research and development activities and innovations with a special focus on the pharmaceutical sector. We will have industry experts discussing their experience.

o get a first impression on what the course is about, you might want to look at the introductory chapter of William M. Baumol's book "The free market innovation machine" - to be found at http://press.princeton.edu/chapters/s7310.pdf . For a starting point in the management literature see the collection on Top 10 Lessons on the New Business of Innovation from the MIT-Sloan Management Review 2011 (available within JLU network).

The preliminary schedule can be found under Ablaufplan. The slides for the respective lectures are available in the Download section (Dateien).

The recordings of the lecture from the past SS 2021 can be found on the chairs Youtube channel Economics2Go https://www.youtube.com/c/Economics2Go in the playlist Economics of Innovation https://youtube.com/playlist?list=PLaMyPT8Jkw7nrmy-E7dSA2WrrE__4P2dv .

Required work:
Final Exam
Assignments
Group paper and presentation

Literature:
Baumol, W. The Free Market Innovation Machine – Analyzing the Growth Miracle of Capitalism, 2002, Princeton University Press
Pepall, Richard, and Norman (PRN): Industrial Organization: Contemporary theory and practice South Western, 3rd edition. 2005, chapters 22-24.
Tirole, J.: The Theory of Industrial Organizatio,MIT Press 1988, ch.10
Stoneman, P. (ed.): Handbook of the Economics of Innovation and Technological Change ch. 1, 4, 5, 7, 11, 12.
Brownwyn Hall, Nathan Rosenberg (eds.) Handbook of the Economics of Innovation, Vol 1 and Vol. 2

This course will be held in English and in presence.

Structure: Lecture + Tutorial
Rhythm: Summer semester
Credits: 6 CP
Course code: 02-VWL:MSc-V1-3
Language: English
Required work: Final exam (80 %) + Assignments (10 %) + Participation (5%) + Group paper and presentation (5 %)
Lecturers: Univ.-Prof. Dr. Georg Götz
Possible Major: Economics, Management

Course Description:
This course gives an overview over the economic study of innovation and the production of new goods and services. Students will learn about the importance of the research and development activities of firms and how they are influenced by public policy in general and by the patent system in particular. The course introduces patent races, the economics of licensing, and the study of adoption and diffusion of new technology. A further topic concerns R&D cooperation with a focus on the working of Research Joint Ventures. Throughout the course we will discuss the Schumpeterian themes of the relation between market structure, firm size and innovation. The course will also evaluate current technology policy as implemented in various countries. A seminar-like part will conclude the course with various case studies of firms’ research and development activities and innovations with a special focus on the pharmaceutical sector. We will have industry experts discussing their experience.

o get a first impression on what the course is about, you might want to look at the introductory chapter of William M. Baumol's book "The free market innovation machine" - to be found at http://press.princeton.edu/chapters/s7310.pdf . For a starting point in the management literature see the collection on Top 10 Lessons on the New Business of Innovation from the MIT-Sloan Management Review 2011 (available within JLU network).

The preliminary schedule can be found under Ablaufplan. The slides for the respective lectures are available in the Download section (Dateien).

The recordings of the lecture from the past SS 2021 can be found on the chairs Youtube channel Economics2Go https://www.youtube.com/c/Economics2Go in the playlist Economics of Innovation https://youtube.com/playlist?list=PLaMyPT8Jkw7nrmy-E7dSA2WrrE__4P2dv .

Required work:
Final Exam
Assignments
Group paper and presentation

Literature:
Baumol, W. The Free Market Innovation Machine – Analyzing the Growth Miracle of Capitalism, 2002, Princeton University Press
Pepall, Richard, and Norman (PRN): Industrial Organization: Contemporary theory and practice South Western, 3rd edition. 2005, chapters 22-24.
Tirole, J.: The Theory of Industrial Organizatio,MIT Press 1988, ch.10
Stoneman, P. (ed.): Handbook of the Economics of Innovation and Technological Change ch. 1, 4, 5, 7, 11, 12.
Brownwyn Hall, Nathan Rosenberg (eds.) Handbook of the Economics of Innovation, Vol 1 and Vol. 2

This course will be held in English and in presence.

Structure: Lecture + Tutorial
Rhythm: Summer semester
Credits: 6 CP
Course code: 02-VWL:MSc-V3-2
Language: English

The module Trade Policy and Global Supply Chains is part of the Master of Science major Economics of Global Risk and Economics. It is structured as a lecture with integrated tutorials and takes place every winter semester. The course is held in English. Moreover, it is recommended to have already completed the module International Economics.



Module content includes aspects from the following areas of foreign trade theory and policy:

Gains from trade
Trade policy and market structures
Political economy of trade policy
Factor movements and direct investments

Structure: two parts, each by a JLU professor or a UWM professor
Turnus: summer term
Credits: 6 CP
Language: Englisch
Examination form: exam, homework, presentation

This Summer School is aimed at
- the participants of the exchange program in economics between the JLU Giessen and the UWM
- master students of the economics program (VWL) at JLU

There are two classes given by a JLU professor and an UWM professor each. Further information concerning the start of the summer school and the dates of classes etc. can be downloaded or found here: https://www.uni-giessen.de/de/fbz/fb02/international/summerschool/programm-aktuell/summer-school-2025
Please note that the information about the Summer School is preliminary and still subject to change.

Module description:

Profound knowledge of game theory with special applications in the field of finance and capital market theory
ability to interpret models from relevant literature and to critically discuss their explanatory potential
ability to deal with applicable policy proposals based on relevant theory and empirical findings
formulation, argumentative defense and critical dispute of subject-related viewpoints and problem solving



The module covers:

Part 1 (lecture): Debt: Game Theory Applications (pre-recorded videos)
Basics of game theory
Applications in the context of finance and capital market theory

Part 2 (seminar): Fiscal and Monetary Policy in Sovereign Debt Crises (virtual live event)
Fiscal policy in crisis situations
Conventional and unconventional monetary policy in crises

Struktur: Vorlesung + Übung
Turnus: Sommersemester
Credits: 6 CP
Sprache: Englisch
Prüfungsform: Klausur

We study the small open economies and their interaction with global financial markets. After an introduction to the balance of payments, we introduce the intertemporal model of the current account. We use the model in order to understand consumption, capital flows and sovereign default. In the second half, we introduce real and nominal exchange rates and discuss the main models of exchange rate determination.

Structure: two parts, each by a JLU professor or a UWM professor
Turnus: summer term
Credits: 6 CP
Language: Englisch
Examination form: exam, homework, presentation

This Summer School is aimed at
- the participants of the exchange program in economics between the JLU Giessen and the UWM
- master students of the economics program (VWL) at JLU

There are two classes given by a JLU professor and an UWM professor each. Further information concerning the start of the summer school and the dates of classes etc. can be downloaded or found here: https://www.uni-giessen.de/de/fbz/fb02/international/summerschool/programm-aktuell/summer-school-2025
Please note that the information about the Summer School is preliminary and still subject to change.

Struktur: Volkswirtschaftliches Seminar
Turnus: Sommersemester
Credits: 6 CP
Sprache: Englisch
Prüfungsform: Hausarbeit/mündliche Prüfung

Der Termin für die Kick-off Veranstaltung ist am 24.04.25 von 10:00 - 12:00 Uhr (Licher Straße 68, Raum 002). Weitere Informationen finden Sie auf unserer Homepage und in Stud ip. Anmeldung erfolgt über das Prüfungsamt.

In jedem Sommersemester bietet Frau Hon.-Prof. Schleer-van Gellecom das Masterseminar an. Die Anmeldungen erfolgen über das Prüfungsamt des FB 02.
Bitte beachten Sie dazu die aktuellen Hinweise und ausführlicheren Beschreibungen auf der Homepage und in Stud IP.

Kurze Beschreibung (in englisch):

We will examine the relevance of (Gen)AI, prompting, Agentic AI, advanced analytics, as well as business and economic forecasting. As a participant, you will present your own empirical work. The aim of the seminar is to enable you to:

- Dive deep into the world of (Gen)AI-driven business decisions and forecasting, understanding its importance as the foundation for data-driven decision-making.
- Engage with applications such as financial forecasting, business cycle forecasting, financial stress indices, customer churn prediction, and credit scoring.
- Develop skills in presenting Data and AI for effective management communication.

To achieve these goals, we will also have practical training sessions with GenAI/LLMs/R/Python at the beginning. This seminar is not just about learning to become a data scientist; it is about gaining digital competence that is crucial for your future career. The seminar will be held in English.

https://www.uni-giessen.de/JLUmaps/

Struktur: Volkswirtschaftliches Seminar
Turnus: Sommersemester
Credits: 6 CP
Sprache: Englisch
Prüfungsform: Hausarbeit/mündliche Prüfung

Der Termin für die Kick-off Veranstaltung ist am 24.04.25 von 10:00 - 12:00 Uhr (Licher Straße 68, Raum 002). Weitere Informationen finden Sie auf unserer Homepage und in Stud ip. Anmeldung erfolgt über das Prüfungsamt.

In jedem Sommersemester bietet Frau Hon.-Prof. Schleer-van Gellecom das Masterseminar an. Die Anmeldungen erfolgen über das Prüfungsamt des FB 02.
Bitte beachten Sie dazu die aktuellen Hinweise und ausführlicheren Beschreibungen auf der Homepage und in Stud IP.

Kurze Beschreibung (in englisch):

We will examine the relevance of (Gen)AI, prompting, Agentic AI, advanced analytics, as well as business and economic forecasting. As a participant, you will present your own empirical work. The aim of the seminar is to enable you to:

- Dive deep into the world of (Gen)AI-driven business decisions and forecasting, understanding its importance as the foundation for data-driven decision-making.
- Engage with applications such as financial forecasting, business cycle forecasting, financial stress indices, customer churn prediction, and credit scoring.
- Develop skills in presenting Data and AI for effective management communication.

To achieve these goals, we will also have practical training sessions with GenAI/LLMs/R/Python at the beginning. This seminar is not just about learning to become a data scientist; it is about gaining digital competence that is crucial for your future career. The seminar will be held in English.

https://www.uni-giessen.de/JLUmaps/

Module codes: 02-BWL/VWL:MSc-B11-Extra2
Course format: Lecture (6 CP)
Lecturer: Prof. Dr. Nicolas Pröllochs (BWL XI)
Term: Summer semester
Language: English
Grading: oral examination (presentation)

The course will consist of a blend of in-person and digital sessions ("Präsenz mit digitalen Anteilen")

***Course description***
Artificial Intelligence (AI) is transforming businesses by unlocking new opportunities for efficiency and data-driven decision-making. The master’s course on “Applied AI” provides students with an overview of the field of AI with a focus on real-world applications. Students will learn the end-to-end process of preparing data, implementing machine learning models, and evaluating their performance. The course will provide hands-on coding examples, equipping students with the necessary skills to implement these techniques independently. At the end of the course, participants will be familiar with the most important concepts, principles, algorithms, and challenges in applied AI.

The main objectives of this course are to:
1) Understand the basic concepts of AI and machine learning and their relevance in business contexts
2) Obtain an overview of different methods, algorithms, and software tools for applied AI
3) Learn how to train and evaluate AI methods on real-world datasets
4) Understand limits and challenges associated with contemporary AI methods, including ethical considerations and biases

***Term project & grading***
Grading will be based on an oral presentation, which will report on the results of a term project conducted throughout the semester. The assignments will consist of a specific problem from applied AI (e.g., applying a machine learning method on a given dataset). Students will be provided with an assignment at the beginning of the semester and may work on their projects individually or in small groups. Assignments will be tailored to students’ interests and expertise. Basic experience in computer programming (e.g., in R, Python) is desirable but not mandatory.

***Registration***
The number of participants is limited to a maximum number of 24 students. Please register for the course by sending an e-mail to datascience@wirtschaft.uni-giessen.de. Please attach your current transcript of records (FlexNow printout) and a short (max 50 – 100 words) motivational statement (optional). If more than 24 students apply, participants will be selected based on their previous grades and/or their motivational statement. The application deadline is 14th April 2025.

For further information, please check the course information on the chair's website: https://www.uni-giessen.de/de/fbz/fb02/fb/professuren/bwl/data-science-digitalisierung/lehre

________
Information vom Prüfungsamt:
Das Modul kann in folgende Bereiche eingebracht werden:
MASTER BWL/VWL:
☒ Business Administration, ☒ Economics, ☒ Management, ☒ Finance and Accounting, ☒ Datenökonomie, ☒ Minor.
MASTER AFS:
☒ Major, ☒ Minor.
MASTER EGR:
☒ Major, ☒ Minor.

Warum entwickelt sich die Wirtschaft in einer Region dynamischer als in einer anderen Region? Aus welchen Gründen bilden sich regionalspezifische Branchenstrukturen und -cluster heraus? Wie beeinflussen Transportkosten, Economies of Scale und Agglomerationseffekte die regionale Wirtschaftsstruktur? Warum verfügen städtische Zentren über überregional ausgerichtete Versorgungs- und Infrastrukturkapazitäten? Welche Einflüsse gehen von der EU-Regionalpolitik aus? Zur Beantwortung derartiger Fragen liefert die Regional- und Standortökonomie wesentliche Beiträge. Die im Sommersemester angebotene Lehrveranstaltung richtet sich an Studierende in betriebswirtschaftlichen wie auch volkswirtschaftlichen Studiengängen. Das inhaltliche Spektrum der Lehrveranstaltung beinhaltet Modelle zur Erklärung der Raumstruktur und der Regionalentwicklung wie auch Ansätze der Regionalpolitik. Ziel der Lehrveranstaltung ist es auch, sich mit Möglichkeiten zur politischen Einflussnahme auf die räumliche Wirtschaftsentwicklung inhaltlich auseinanderzusetzen. Die Prüfungsleistung basiert vollumfänglich auf einer Klausur (eine Kombination aus Seminarvortrag und Klausur kann derzeit nicht angeboten werden; angesichts der Prüfungsordnung musste die Prüfungsform angepasst werden).

Die Anzahl der Teilnehmerinnen und Teilnehmer ist auf 50 begrenzt.

________
Information vom Prüfungsamt:
Das Modul kann in folgende Bereiche eingebracht werden:
MASTER BWL/VWL:
☒ Business Administration, ☒ Economics, ☒ Minor.
MASTER AFS:
☒ Minor.
MASTER EGR:
☒ Minor.

Die Vorlesung bietet aufbauend auf der Logik und der Erkenntnis- und Wissenschaftstheorie eine Einführung in die Grundfragen der ökonomischen Methodologie. Sie findet als Blockkurs statt. Eine ausführliche Beschreibung finden Sie in Stud.IP.
Das Modul, zu dem diese Vorlesung gehört, besteht aus zwei eigenständigen, jeweils zweistündigen Vorlesungen. Die zweite Vorlesung findet jeweils im Sommersemester im Rahmen der Virtual Summer School - Economics of Debt Crises statt (Teil 1: Vorlesung) und wird zum Streaming angeboten. Zuständig für diese zweite Vorlesung ist Prof. Meckl.