This course provides an introduction to economic policy. Its main objective is to provide a clear and coherent account of contemporary (macro-)economic policy issues. The basic theoretical tools and techniques necessary for discussing these issues are introduced. Wherever possible, theory is illuminated with real world examples and applications, such as fiscal and monetary policies in European countries. The final part of the course explores the importance and impact of labor market regulations by means of a role-playing game.

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This course provides a comprehensive introduction to financial accounting. It is explored to understand the accounting techniques, the legal environment for accounting in Germany, the institutional and conceptual framework of accounting and, finally, the accounting for specific issues such as intangibles, financial instruments or goodwill. The participants should gain a deeper knowledge about the corporate communication process expressed in financial statements. Aspects of financial statement analysis are also discussed to understand the impact of financial data on external contract partners.

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The purpose of the course Foundations of Investments is to develop an understanding of the basic concepts in the field of corporate financial theory. The lecture first focuses on investments and valuation and thereafter on financial instruments. Furthermore, the content of the course will be applied in a case study. In particular the following content is mediated. First of all basics and an overview are provided. Then investment under certainty is discussed; especially discounting and present value mathematics is considered. Different valuation methods are presented and compared to derive decision rules under certainty. The second part of the lecture introduces different financial instruments and especially relies on no-arbitrage arguments. The pricing of forwards and futures is discussed, as well as the use of options in portfolio management. Interest rate risk will be analyzed and the concept of duration will be explained. Subsequently interest rate risk-management with the use of swap contracts will be discussed. Finally international financial management will be introduced while explaining the relationships between inflation, interest rates, forward rates and exchange rates.

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Microeconomic theory aims to explain the decision-making of individuals in a world of scarce resources. It derives implications which help understand the functioning of markets and the development of social organizations such as firms and governmental institutions. In the first part we introduce the basic analytical tools and theories of microeconomics. The second part analyzes market structures and the nature of competition.

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In its first section, the course discusses the principles of a social market economy and clarifies the theoretical foundations of business administration. The second section investigates the principles of management and leadership as well as their practical implications for management in the context of the life cycle of a company. Specific topics to be analyzed are decision making, organization management and corporate governance. The third section deals with important business functions. Specific areas to be covered are marketing, finance as well as innovation management.

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