Faculty of Economics

In the first of two mandatory Economics modules in the Business Administration Bachelor's program, you will gain a comprehensive understanding of the topics and methods of microeconomics. The focus of the module lies on classical microeconomic theories, which, for example, examine the demand and supply behaviour of private households and businesses, explain price formation processes within different market structures, and identify and analyze governmental intervention possibilities in markets.

In the field of macroeconomics, you will acquire in-depth knowledge of economic interrelationships and develop an understanding of the interdependence of macroeconomic markets. You will learn about the interplay of all market participants —private households, businesses, the government, banks, the central bank, and foreign entities — and will be able to evaluate and analyze economic policy questions.

You will gain an overview of the most important questions and methods of general economics and understand the functioning and challenges of markets. You will acquire the basics of economic competition theory and learn how to relate this to the competitive legal environment of businesses, as well as how to apply it to case studies.

We regularly offer options in both German and English focusing on various specialized disciplines within economics. This enables you to apply and deepen your knowledge gained from fundamental economics courses to specific problems. In addition, interdisciplinary approaches to solutions are presented, and current issues in economic policy or economic research are addressed.
In the elective area for the Integrated Studies in the first semester of the BA in Business Administration, we offer the English-language module "Applied Rational Decision Making".

You will discuss features and methods for outlining decisions in terms of business positioning in the market. Using economic models, you will develop explanatory approaches for practical management problems, assess the social and political environment for entrepreneurial decisions, and formulate strategies to remain competitive.

World trade and world financial flows as well as exchange rate issues are analyzed from a macro-economic and business perspective. You will learn how political economy and business strategies of multinational companies are interlinked. The module also discusses the role of international institutions such as the WTO, IMF, and World Bank.

In this English-language module, you will become familiar with the essential economic coordination mechanisms of a market economy. You will learn to distinguish between entrepreneurial, macroeconomic, and economic policy objectives, and to systematically analyze interdependencies between regulatory, monetary, and fiscal policy.