| Detailed information |
| Pre-requisites |
(*)KS Einführung in die Volkswirtschaftslehre KS Einführung in die Mikroökonomie
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| Original study plan |
Bachelor's programme Economics and Business 2021W |
| Objectives |
Students acquire skills to apply theoretic models to current economic decisions. Students will learn how decisions made to address real industrial economic problems converge with abstract theoretical models in which have already predicted their outcome.
The course aims to reduce congnitive dissonance of students between abstract knowledge of theoretical models and real economic decision making in companies.
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| Subject |
Solving different industrial economic problems through class room games. The economic decisions of students in those class room games will be compared to theoretical forecasts of abstract economic models. The following problems will be looked at: Cournot and Bertrand competitions, collusive behavior, decisions when having a asymmetric information, vertical integration, decisions about positioning...(industrial economic topics are not up front and vary over time)
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| Criteria for evaluation |
Students are required to participate in classroom games as well as prepare and evaluate one game themselves. Grades will be based on preparing an in-class game (50% of the grade is based on preparation, organization, development, and presentation of results as well as the final report); the other 50% of the final grade stems from active in-class participation and participation in other students' games.
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| Methods |
Lecture and in-class discussions
Students will prepare, conduct and evaluate games and experiments
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| Language |
German |
| Study material |
Course Reading:
Holt, C. A.: Teaching economics with classroom experiments. Southern Economic Journal, 65(3), 603-610.
Additional reading material which can vary according to the course syllabus:
Journal of Economic Education
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| Changing subject? |
No |
| Further information |
The course will consist of class room games on industrial economic topics (= designed to address and solve economic problems in an experimental setting); students will be organized in groups. Students are responsible for organizing a classroom and required to participate actively.
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| Corresponding lecture |
(*)572AECOFUMU15: IK Firmen und Märkte (3 ECTS)
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| Earlier variants |
They also cover the requirements of the curriculum (from - to)
572AECOEXPU18: IK Experiments on Strategic Management Decisions (2018W-2020S)
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