Fachbereich 02: Wirtschaftswissenschaften - Master-Studiengang Economics of Global Risk (M.Sc.) ab Wintersemester 2024/25 - VWL-Module

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: 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.

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.

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.

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: Seminar
Turnus: Sommersemester
Credits: 6 CP
Sprache: englisch
Prüfungsform: Seminararbeit/Präsentation

**Block Seminar: Transformative Effects, Opportunities and Risks of Artificial Intelligence**
Artificial Intelligence is rapidly reshaping various aspects of our world, prompting us to rethink the traditional models of economics, society, and governance. In this seminar, we analyze how AI could challenge established paradigms and creates entirely new ways of understanding change.

Our discussions will cover a broad range of topics—from the fundamentals of exponential growth and the evolution from narrow AI to AGI, to the transformation of work, monetary systems, and social distribution, as well as governance, education, and the vision of a post-AI society. We will examine both the profound opportunities and the significant risks that AI presents, aiming for a rigorous, balanced, and open-ended analysis.

**Admission Requirement**

Half-Page Reflection on AI
To enroll in this seminar, each student must submit a brief (half-page) reflection on their current understanding of AI. This reflection should include an evaluation of AIs current state, and a balanced consideration of both its transformative opportunities and the risks it poses. This exercise will help establish a common foundation for our in-depth discussions.

Seminar Overview

- Number of Participants: 20–30 students
- Format: 5 thematic blocks (3 topics each = 15 total topics), delivered over 3 weeks (2 half-days each)
- Kick-off Meeting: 1 hour at the start of the semester- Presentations: 20–25 minutes + 10 minutes of discussion (multiple students may present on the same topic)
- Written Paper: 8–10 pages, due at the end of the seminar

for more information: https://www.uni-giessen.de/de/fbz/fb02/fb/professuren/vwl/winker/lehre/ma-veranstaltungen/seminar-ma/seminar/2025_02_11_transformativeeffects

Die Zuteilung der Plätze erfolgt über das zentrale Vergabeverfahren des Prüfungsamtes. Bitte informieren Sie sich dort.

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

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

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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.