Fachbereich 02: Wirtschaftswissenschaften - Bachelor-Studiengang Wirtschaftswissenschaften (B.Sc.) - Studienbeginn vor Sommersemester 2018 - Schwerpunktphase - Volkswirtschaftliche Schwerpunktmodule im 7. und 8. Semester

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.

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.

Struktur: Vorlesung + Übung / Lecture and Exercise Class
Turnus: Sommersemester / Summer term
Credits: 6 CP
Sprache: Englisch
Prüfungsform: Klausur und Projektarbeit / Written exam and project
The course takes place in person

The course Time Series Econometrics and Computer-based Methods complements the course Advanced Econometrics taught in the winter term. Methods of estimation and inference are used for advanced methods for the analysis of time series data (e.g. financial market or macroeconomic data). Besides traditional econometric methods, specific emphasis is given to computer-based methods (e.g. Monte Carlo simulations, Bootstrap, non-parametric estimators). The students will learn about the properties of the methods, how to implement them, difficulties and limits of applications.
Besides the lecture and the exercise class, students will apply the econometric methods introduced in this course on a small-scale research project. The projects may be proposed by the students or be based on suggestions by the lecturers.
In order to reproduce examples from lecture and exercise class as well as for conducting your own project, you will need access to a suitable econometric software package. The lecture will use examples both based on the commercial software EViews and the free package R. For own projects, we recommend using the free software package R. As platform for R, we recommend RStudio (https://rstudio.com/).
Please note that the number of participants for this course is limited – the selection of students will be based on your background in statistics and econometrics. To allow for a swift admission, please send a Email with your enrollment number and information about your background in statistics and econometrics (modules attended at JLU or elsewhere) to Jana Röder (jana.roeder@uni-giessen.de). If you finished the module “Advanced Econometrics” successfully or participated in the retake exam, please let us know as well.
The first lecture will take place on April, 22nd 2025.

Link zu JLU-Maps:
https://www.uni-giessen.de/JLUmaps/?id=167813&lang=de

Struktur: Vorlesung + Übung / Lecture and Exercise Class
Turnus: Sommersemester / Summer term
Credits: 6 CP
Sprache: Englisch
Prüfungsform: Klausur und Projektarbeit / Written exam and project
The course takes place in person

The course Time Series Econometrics and Computer-based Methods complements the course Advanced Econometrics taught in the winter term. Methods of estimation and inference are used for advanced methods for the analysis of time series data (e.g. financial market or macroeconomic data). Besides traditional econometric methods, specific emphasis is given to computer-based methods (e.g. Monte Carlo simulations, Bootstrap, non-parametric estimators). The students will learn about the properties of the methods, how to implement them, difficulties and limits of applications.
Besides the lecture and the exercise class, students will apply the econometric methods introduced in this course on a small-scale research project. The projects may be proposed by the students or be based on suggestions by the lecturers.
In order to reproduce examples from lecture and exercise class as well as for conducting your own project, you will need access to a suitable econometric software package. The lecture will use examples both based on the commercial software EViews and the free package R. For own projects, we recommend using the free software package R. As platform for R, we recommend RStudio (https://rstudio.com/).
Please note that the number of participants for this course is limited – the selection of students will be based on your background in statistics and econometrics. To allow for a swift admission, please send a Email with your enrollment number and information about your background in statistics and econometrics (modules attended at JLU or elsewhere) to Jana Röder (jana.roeder@uni-giessen.de). If you finished the module “Advanced Econometrics” successfully or participated in the retake exam, please let us know as well.
The first lecture will take place on April, 22nd 2025.

Link zu JLU-Maps:
https://www.uni-giessen.de/JLUmaps/?id=167813&lang=de