Students

• Know the main strands of economic policy and the main organisations of international regulation
• Understand the tools and limits of fiscal and monetary policy
• Understand behavioural concepts in decision making
• Analyse the influence of finance on the macro economy as well as the roots of the crisis
• Analyse the impact of macroeconomic turbulences on businesses
• Analyse self-enforcing and pro-cyclical effects in the economy
• Critically assess the proposals for solving the crisis

Standard economic policy approaches (fiscal,monetary); Financial markets and the evolution of the crisis; economic policy in the crisis; debt-deleveraging; breaking-up the Euro; conflicts between austerity and growth

Sections from various sources plus most recent material, like:

• Lloyd, P. E. (2010). "Global economic integration." Pacific Economic Review 15(1): 71–86; 
• Krugman, P.; Wells, R. Macroeconomics, 2nd ed., 2010; 
• European Central Bank ECB (2008): The implementation of monetary policy in the Euro area, Frankfurt/M.;
• Wilkinson, N. and Klaes, M. (2012): An Introduction to Behavioral Economics; 
• Akerlof, G. A. and R. Shiller, J. (2009). Animal spirits: how human psychology drives the economy, and why it matters for global capitalism. Princeton u.a.; 
• Blinder, A. Six Errors on the Path to the Financial Crisis (2009), in: New York Times, Jan 24;
• Minsky, H. P. (1992). "The Financial Instability Hypothesis"; 
• Williams, J. C. (2011). "Economics Instruction and the Brave New World of Monetary Policy." FRBSF ECONOMIC LETTER(17)

Selected short movies, Economist, Handelsblatt;

Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung

Preparation by reading list; Q&A-sessions, students input and short presentations, ad-hoc groups, coaching an autonomous learning process; lecturing.