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Core Courses (36 ECTS)

The Master's in Public Economics emphasizes a rigorous theoretical education. Therefore, the program comprises six manadatory modules focussing on national and international Public Economics. We recommend to complete these modules within the first two semesters of your studies.

A microeconomic education is a key part of any Economics program. Therefore, this modul shall provide you with in-depth methods and knowledge on microeconomic fundamentals. During the course, you shall familiarize yourself with the newest microeconomic approaches and applications, so that you may develop an intuitive understanding of far-reaching microeconomic relations. The goal of this module is to train you to recognize restrictions, and approaches as well as to carry out model extensions.

Among the module contents, you may find:

  • Households’ and firms’ decision theory
  • General Equilibrium Analysis
  • Fundamental theorems of Welfare Theory
  • Partial Equilibrium Analysis
  • Imperfect Competition
  • Game Theory

Being an important core area of Economics, Advanced Macroeconomics provides you in-depth methodic and specialized knowledge on the fundamentals of Macroeconomics. In this course you shall get a broad overview of the quantitative methods of growth and business cycle theory.

You shall learn to solve macroeconomic models formally and to interpret derived results. Upon course completion, you shall have gained an intuitive understanding of macroeconomic correlations as well as the ability to carry out individual model ampliations based on the limitations of the presented approaches.

The course content comprises:

  • Growth theories (e.g. Solow model, Ramsey model)
  • Business cycle theories: Real Business Cycle Model, New Keynesian Models
  • Modern Methods of Macroeconomics, e.g. Dynamic Optimization.

The module Welfare Economics contemplates the Theory of Market Failure from a public finance perspective and provides advanced methods for analysing public expenditure. Students shall learn to analyse fundamental problems of a welfare state in an independent manner and to assess the economic importante of central welfare institutions within a market economy.

The course content comprises, among others:

  • Insurance role of the welfare state
  • Market failure and insurance
  • Ensuring labour income through the State
  • Redistribution by means of income taxation
  • Public supply of private goods
  • Poverty alleviation

Command of microeconometric methods is a key requirement for the independent execution of empiric analyses in the field of Public Finance. Besides fundamental empirial models, students shall learn quasi-experimental methods of modern causal analysis. The theoretical contents are illustrated through empirical analyses of microdata in relation to current economic policy issues. The goal of this module is to enable students to perform independent, empirical work and to analyse and develop the presented methods and approaches.

The course content comprises, among others:

  • Logit, Probit, Tobit models
  • Difference-in-differences methods
  • Instrumental variables

This module provides students with an understanding of the public finance interdependence of open economies. In this respect, diverse issues, such as European integration, globalization, tax competition and global trade policy. The goal of this module is to provide the economic tools to identify and solve public finance problems in scenarios with competing state stakeholders.

The course content comprises, among others:

  • Federalism
  • Strategic aspects of taxation: e.g. tax competition, ta coordination.
  • Economics of international negotiations
  • International aspects of consumption, factor income and resource taxation
  • Economics of customs and trade policy. 

Public Finance theories on optimal taxation as a part of economic income policy are a fundamental component of this module. Based on the contents therein taught, the students shall obtain a deep understanding of the working mechanism of taxes. Students shall furthermore learn about the relevant interest conflicts of taxation as well as discuss these from an economic perspective. Upon successful completion of this module, students shall be able to provide economically founded recommendations in order to develop and analyse taxation theory and policy instruments.

The course content comprises, among others:

  • Optimal taxation theory
  • Tax incidence analysis
  • The excess burden of taxation
  • Design of tax systems and tax reform
  • Conflict of interests between efficiency and redistribution
  • Taxation of external effects