Microeconomic theory aims to explain the decision-making of individuals in a world of scarce resources. It derives implications that help one understand the functioning of markets and the development of social organizations such as firms and governmental institutions. Part one introduces the analytical tools and basic theories of microeconomics. Part two analyzes market structures and competitive strategy while part three examines general market equilibrium, information deficiencies, externalities and the role of government.

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This course provides a comprehensive introduction to financial accounting. It explores 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. In order to help students understand the impact of financial data on external contract partners, aspects of financial statement analysis are also discussed.

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Accounting is the means of measuring business success. The information on busi­ness performance provided by cost accounting is crucial for making rational decisions and controlling activities. This course offers a comprehensive introduction to the fundamentals of cost accounting. It provides an overview of essential concepts and tools of cost accounting needed by future managers. Exercises and examples deepen the understanding of concepts and tools.

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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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