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About the course
The seminar offers an intensive introduction to certain key concepts used by economists. It consists of two components, a microeconomic and a macroeconomic analysis.
The main topics covered in the microeconomics part include consumers' and producers’ behaviour, the effective functioning of competitive markets and the situation when the equilibrium of markets is not optimal and generates the need for government intervention. This part also covers the situation where markets are not perfectly competitive (monopoly, oligopoly and monopolistic competition). Finally, this part will also include some advanced topics such as game theory and how information and uncertainty complicate the optimal functioning of markets. Concepts presented are grounded in current policy debate and concrete examples relying on readings from news and current debates. The goal of the macroeconomics section is to understand the interactions among the main policy areas: monetary policy, fiscal policy, and wage-setting. Conceptual and theoretical frameworks will be discussed from the perspective of applied policy illustrations, concrete discussions and case studies, providing the participants with a hands-on understanding of modern economic analysis.
In short, participants gain a thorough understanding of professional economists' way of thinking and a concise overview of the most important topics and approaches in micro- and macroeconomics. A background in economics or mathematics is not required.
In short, participants will gain a thorough passive understanding of professional economists’ way of thinking and a concise overview of the most important topics and approaches in micro and macroeconomics. No background in economics or mathematics is necessary.
Trust the experts
Kerstin Bernoth is Professor of Economics at the Hertie School of Governance and Deputy Head of Macroeconomics at the German Institute for Economic Research (DIW Berlin). Her research centres on empirical finance, monetary and fiscal policy and financial stability. Since 2015, Bernoth has also be...
Leonardo Iacovone is Professor of Economics at the Hertie School. His research and policy advisory focuses on development economics, firm dynamics, productivity, entrepreneurship, innovation, trade, and youth unemployment. He is a Lead Economist at the World Bank where he has worked for more than...