Economics for Managers

The main mission of our Chair is to make participants of executive education familiar with the most important elements of how modern economies work. Participants learn to appreciate how their business activity is embedded in the bigger framework of general economic developments. They develop a good intuitive understanding of the evolution of economic processes and the role of institutions involved therein (e.g. central banks). We are convinced that this supports our participants in taking better decisions in their own businesses. In our courses, we make use of innovative teaching material that we develop specially for executive education, such as cartoon stories, interactive web applications, special discussion formats, and more.

Machine Learning and AI for Managers

We offer several innovative courses in Data Science, Machine Learning, and Artificial Intelligence (AI) for managers. We are convinced that managers themselves should have a basic understanding of these subjects and that this is a key factor for a successful implementation of data- and AI-based solutions in organizations. What is more, this basic understanding offers an enlightened view on the societal opportunities and risks of AI to a key group of today’s decision makers.

Research

We conduct fundamental research on the characteristics of an economy in which agents do not fully understand how the economy “works”. We view this “fundamental uncertainty” as a hallmark of a real-world economy that may be at the heart of many crises, but also play an essential role for the unprecedented success of capitalist economies. We apply the analysis to questions of regulation, central bank policy, and crisis prevention.