M1 Microeconomics and Development*

Aim of this class is to learn how deviations from standard (neo-) classical assumptions like market imperfections, external effects, information asymmetries, or bounded rationality lead to market failures that call for governmental intervention. Students are enabled to identify the underlying development issues, and learn to discuss critically the effectiveness of various development-related policies – e.g. credit subsidies for poor households or conditional cash transfers – in the context of existing theories and evidence on individual decision-making.

M2 Macroeconomics and Development*

The aim of this course is to impart a clear understanding of the differences between the principal macroeconomic paradigms, and how these relate to debates and policy recommendations on monetary, fiscal and exchange rate policies in a development context. Students can draw conclusions and conduct empirical analysis related to developing countries. They will be able to independently prepare macroeconomic analyses for different countries and develop and evaluate problem-oriented policy concepts.

M3 International Economics for the 21st Century*

Students know the basic empirical features (direction, size and determinants) of global trade and financial flows and can evaluate their relevance for developing countries. They understand the basic models of international trade and international capital flows, can apply them to examples as well as current events and are able to critically discuss their assumptions and limitations. They are aware of recent contributions to the theory of international trade and finance and can analyse policy recommendations under different theoretical models. Moreover, they are able to read and understand academic papers in the field of international economics of moderate complexity and are able to present these papers to fellow students.

M4 Theories of Development*

Students are aware of the main theoretical approaches to development economics and of a selection of related contemporary issues in development policy. They know major concepts, theoretical approaches, historical developments and debates in development theory and practice. By the end of the course students have a good understanding of the challenge of development in developing countries and emerging markets and of how the academic research community and development organizations have been dealing with it throughout various time periods. Students are able to analyze selected development policy approaches, policies and their respective outcomes as well as to evaluate policy options, design policies and to give policy recommendations in individual and /or group presentations.