Managerial Economics (LMU Master in Business Administration M.Sc.)
In this master for business students course I teach the principals of Microeconomics and Strategy 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 microeconomic 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 microeconomic 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.
Case Studies in Competition Policy (Bachelor in Economics)
In this course I give students a real case where antitrust measures or government regulation was about to be imposed and let them argue in teams for and against the use of regulation and what the implications for business are. All groups use arguments derived from published papers both from the business and economics literature. An example for such a case is the break-up of the vertical integrated structure of energy companies (unbundling) or the allowance of patent pools.
