Managerial Economics (LMU Master in Business Administration M.Sc.)
In this master for business students course I teach the principals of economics along with empirical applications of the theoretical concepts. The course is complemented by talks with industry experts.
The aim of this course is to teach students that models and empirical evidence help to better predict the business consequences of managerial decisions. For example, the decision whether a company should increase or decrease prices can be analyzed by comparing demand elasticities with marginal costs. I then show how these elasticities can be estimated with state-of-the art methods such as the method of BLP (Berry et al. 2004), both for homogenous and differentiated goods from various sources of data.
The aim of this course is to teach students that models and empirical evidence help to better predict the business consequences of managerial decisions. For example, the decision whether a company should increase or decrease prices can be analyzed by comparing demand elasticities with marginal costs. I then show how these elasticities can be estimated with state-of-the art methods such as the method of BLP (Berry et al. 2004), both for homogenous and differentiated goods from various sources of data.
The Economics of Science and Innovation (Master/PhD in Economics)
The main idea of this course is to be a tour de force through the classics and current contribution in the innovation literature. In particular, students learn where the gaps in the literature are and which methods are accepted in the field. For every lecture, students read four papers. In the lecture I embedded the papers into the broader context and explained how they contribute to our understanding of innovation economics. In the end the students developed a research proposal.