Data, Decisions, Economic Policy
Profile
In the competence profile Data, Decisions, Economic Policy, students develop a broad understanding of economic activity from both an overall societal and an individual (company) perspective. At the same time, there is a strong focus on learning modern empirical methods of econometrics/data science as well as theoretical methods in the area of individual and strategic economic decisions.
In terms of content, the competence profile enables an in-depth examination of societal challenges, such as: How does inflation arise and how can it be contained? How do structural change or business cycles influence labor markets? What instruments are available to the state for reducing inequality or for combating climate change? How does economic growth come about through innovations and new technologies? These challenges are not only of interest to society as a whole, but also drive strategic business decisions. An understanding of these fundamental questions is thus highly relevant for tomorrow's leaders.
Another substantive focus of the Data, Decisions, Economic Policy competence profile lies in teaching versatile, applicable tools that enable the analysis of far-reaching economic (corporate) decisions: How should companies position themselves in competition? What mechanisms are appropriate for recruiting and motivating employees? How should supply chains be organized and negotiations with suppliers be structured?
In addition to the main content areas, the professorships of this competence profile place a strong focus on in-depth and advanced teaching of modern empirical methods of data science and econometrics. This enables graduates to create quantitative analyses and forecasts in all areas of the economy and public administration.
The profound training of the competence profile in empirical and theoretical methods prepares students for a wide range of tasks in both the private sector and public administration. The skills acquired in the competence profile are typically not learnable "on the job" and therefore offer distinctive added value for employers, especially in an increasingly digitalized and data-driven economy.
Is this Competence Profile a Good Fit?
This competency profile is a good choice for students interested in the following areas:
- Learning methods of data science/econometrics and their application to business and economic issues
- Systematics of economic decisions (e.g. pricing, design of employment contracts, organization of the production process)
- Understanding of economic issues, e.g. in the field of public finance and fiscal policy (e.g. determinants and consequences of taxation), labor markets, structural change, internationalization, regional development, financial markets and more
- Interest in economic issues from a societal perspective
- Enjoyment in learning theoretical and empirical methods with direct relevance to application
Professorships Taking Part in the Competence Profile
In the competence profile Data, Decisions, Economic Policy, students can choose lectures and seminars from these professorships. The final thesis can only be completed at one of these professorships. It should be noted that not all courses offered by a professorships will belong to a specific competence profile. A detailed overview can be found at the end of the module handbook.
- Applied Economics
- Empirical Economic Research
- Finance
- Macroeconomics
- Management Science
- Methods
- Microeconomics
- Public Economics
- Production Management and Logistics
- Strategic Management and Leadership
- Urban, Regional and International Economics
- Economics 1
- Business Informatics
Spokespersons for the Competence Profile
Career Prospects
Examples for careers that would be suited to graduates with this competency profile include:
- Careers in banks or insurance companies
- Data analyst
- Analyst activity in purchasing and sales
- Strategy consulting and political consulting
- Interest groups (such as the Chamber of Industry and Commerce)
- Activities in NGOs and think tanks
- Work in public administration, for example in federal and state ministries, local government or federal agencies
- University and non-university research