Module Manual M.Sc.

Econometrics
Date: July 10, 2024

Please note that you must contact us before the start of the semester (till March 15
for the upcoming summer term and till September 15 for the upcoming winter
term) if you wish to take courses that may be relevant to the Master's degree
program but are not listed in the module handbook. Please contact
Daniel.dzikowski@tu-dortmund.de in this regard.

Overview of the program:

NAME Courses Credit Points

STATISTICAL THEORY ME1a Statistical Theory 10

ASYMPTOTIC THEORY ME1b Asymptotic Theory 5

ECONOMETRICS ME2 Econometrics 9

CASE STUDIES ME3 Case Studies 8

TIME SERIES ME4 Time Series Analysis 10

ANALYSIS
COMPULSORY 48
ELECTIVES:
ECONOMICS ME5 Different courses 11-26

APPLIED ME6 Different courses 11-26

ECONOMETRICS
ECONOMETRIC ME7 Different courses 11-26
METHODS
MASTER THESIS ME8 Master Thesis 30

Preliminary remarks

Many of the modules to be described below sharpen students’ general skills such as presenting work,
programming etc. To avoid redundancies in the module descriptions, we sketch such broad skills here.
Aspects that are specific to individual modules will be presented in the corresponding descriptions.
The overarching goal of the Master of Econometrics is to train students in applying and developing
methods to suitably model and analyze complex problems involving economic data. Students are not just
to apply modern statistical techniques in a cookbook manner, but to thoroughly understand their common
foundations and relationships. Only then, we believe, will they be able to make meaningful contributions
to both econometric methodology and applications.
Like with most learning goals, but certainly like with any quantitative technique, understanding of
econometric methods cannot be achieved through repetitive memorizing. Likewise, while lectures are a
useful starting point to introduce new topics, learning ultimately must be an active act rather than only
passive consumption of a lecture. Such understanding therefore should be and will be fostered through
steady and extensive active work on exercises and concrete applications. Regular tutorials hence are a
core and crucial part of the program. Consequently, all of our modules complement lectures (if any) with
such exercise sessions.

Next to a deeper understanding of the course material, such tutorials also provide students with effective
learning and research strategies. First, experienced PhD students, post docs and professors share their
tested approaches to solving complex problems. Second, students come to appreciate that working
through concrete problems is an effective way to foster their grasp of different methodologies. Third,
writing down their solutions develops students’ skills in formulating mathematical, statistical and
econometric relationships, as well as, fourth, verbal and written communication skills more generally.
The importance of such exercises is reflected in regular due dates for suitable problem sets. Meeting such
compulsory deadlines helps students develop time management skills and a steady work routine. At the
same time, the corrected exercises provide students with timely feedback to what extent their learning
progress is in line with the progression of the corresponding course. We are therefore convinced that
successfully completed problem sets are to be rewarded, and likewise believe that failure to submit such
exercises should be sanctioned.
The study regulations aim for different types of assessments so as to reflect the variety of tasks a
successful econometrician needs to fulfil in his or her later career. Specifically, students can acquire
credits, next to the problem sets described above, through, e.g., oral presentations, term papers and oral
exams. These train students’ written and oral communication skills. Written exams ask students to actively
apply the methods discussed in the various modules.
Modern statistical and econometric work is inconceivable without hands-on application of the methods in
statistical computing languages such as R. Our assessments will therefore also regularly ask students to
demonstrate that they know how to translate abstract methodology to real-world applications using real
data.
Finally, econometric (like most other) research ultimately flourishes most when done, shared and
communicated with others. We therefore provide students with regular opportunities to work in groups,
e.g. asking them to jointly discuss a suitable line of attack to an empirical problem. Similarly, peer-learning
formats help students develop and support each other.

A semester abroad also serves to develop such general, interdisciplinary skills. Students are encouraged
to take some courses at a foreign partner university. In particular, the 3rd semester is suitable in this
regard. Such international exchanges are for example supported by the ERASMUS programme.
Econometrics (M.Sc.) – Description of the modules

Module: Statistical Theory Module ME1a

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st semester 10 300 h

1 Structure of the module

No. Courses Type Credit Credit Hours
Points
1 Statistical Theory L+T 10 4+2
2 Language of instruction
English
3 Contents of the module
The Statistical Theory module covers the main topics of basic statistical theory and consists of the two
blocks ‘Probability Theory’ and ‘Decision Theory’.
The block ‘Probability Theory’ gives an introduction to measure theory and stochastics necessary to
formalize the questions discussed in statistical theory.
The block ‘Decision Theory’ introduces the basic concepts associated with statistical tests. Possible
topics include: decision rules, Bayes estimator, exponential families, the Neyman-Pearson lemma, two-
tailed tests, Wald-tests, conditional tests, sequential hypothesis testing.

4 Competences
Participants learn to use the formal language of statistics and gain knowledge of fundamental concepts
in stochastics, decision theory and mathematical statistics, which are required in order to analyze, apply
and further develop statistical procedures.

5 Examinations
Statistical Theory: Graded written exam

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Compulsory module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. K. Ickstadt, Prof. Dr. C. Jentsch TU Dortmund University, Department of Statistics
Module: Asymptotic Theory Module ME1b

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st semester 5 150 h

1 Structure of the module

No. Courses Type Credit Credit Hours
Points
1 Asymptotic Theory L+T 5 2+1
2 Language of instruction
English
3 Contents of the module
The course ‘Asymptotic Theory’ deals with asymptotic properties of statistical methods and presents
various central limit theorems used in statistics. The Asymptotic Theory course starts after the first half
of the semester and takes place entirely in the second half of the semester (then as a 4+2 course).

4 Competences
Participants learn to use the formal language of statistics and gain knowledge of fundamental concepts
in stochastics and mathematical statistics, which are required in order to analyze, apply and further
develop statistical procedures.

5 Examinations
Asymptotic Theory: Graded written or oral exam

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Compulsory module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. K. Ickstadt, Prof. Dr. C. Jentsch TU Dortmund University, Department of Statistics
Module: Econometrics Module ME2

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Each semester 1 semester 1st and 2nd semester 9 270 h

1 Structure of the module

No. Courses Type Credit Credit Hours
Points
1a Econometrics L+T 9 6
1b Recent Developments in Econometrics L+T 9 6
1* Advanced Econometrics L+T 9 6
2 Language of instruction
English
3 Contents of the module
The lecture deals with a wide range of fundamental econometric methods. Special emphasis is placed
on asymptotic results to allow for a general discussion of the statistical properties of these methods. The
main focus lies on a formally precise description of the concepts. Topics include the linear regression
model, the generalized linear regression model, maximum likelihood estimation and inference,
asymptotic theory, endogenous regressors, instrumental variables, generalized method of moments and
regression models for time series, among others.
Students can choose between ‘Econometrics‘ and ‘Recent Developments in Econometrics‘.

*Students, who already took the course ‘Econometrics’ during the completion of a Bachelor degree at
TU Dortmund University, require to take the course ‘Advanced Econometrics’ (cf. Advanced Topic in
Econometrics Methods, Block ME7) to achieve the necessary credits for module ME2.

4 Competences
Participants learn to use the fundamental concepts in econometrics, which are required in order to
further develop and to successfully apply the statistical methods.

5 Examinations
Graded written exam. The lecturer may include further requirements necessary to attend the final exam.
These requirements and the form of the examination will be announced at the beginning of the course.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Compulsory module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
JProf. Dr. A. Arsova / Prof. Dr. C. Hanck TU Dortmund University, Department of Statistics,
University of Duisburg-Essen, Department of
Business Administration and Economics
Module: Advanced Case Studies Module ME3

M.Sc. Program: Econometrics

Frequency: Duration Study section Credit Points Time
Summer semester 1 semester 2nd and 3rd semester 8 240 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Case Studies P 8 4

2 Language of instruction
English
3 Contents of the module
In the course ‘Case Studies’ participants work on statistical problems in one or two larger projects,
usually using raw economic data. Working in groups, they independently choose appropriate statistical
methods and adapt them to the problem at hand, in order to carry out a comprehensive analysis of the
data. The initial research question, methods, analysis and results are to be presented in a detailed
written report and an oral presentation. A special focus is put on the "translation" of the initial question
into a statistical/data-analytic problem. After completion of the latter, the results are used to provide an
answer to the research question. Both the methodological approach and the results regarding the
research question are discussed together with the other participants.
Alternatively, by agreement, this course may be replaced by an extra-curricular internship, during which
students participate in the analysis of raw data in a project within an institution, specialized in statistical
advisory work. Subsequently the statistical analysis is summarized in a written report on the internship.

4 Competences
Participants gain practice in independent scientific research as well as in the presentation of the
statistical results in written and oral form. They expand methodological skills and various
interdisciplinary qualifications such as teamwork, presentation techniques or communication skills.
Working on larger projects trains the skills in project management. Furthermore, the course serves to
enhance the counseling competence of the students.

5 Examinations
Graded written report. Details will be announced at the beginning of the course. Attendance at the
presentations may be compulsory. This is the decision of the lecturer if s/he deems it to be necessary to
achieve the learning goals of the course.

6 Type of Examination
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Compulsory module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Lecturers from TU Dortmund University, TU Dortmund University, Department of Statistics
Department of Statistics
Module: Time Series Analysis Module ME4

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 10 300 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Time Series Analysis L+T 10 6
2 Language of instruction
English
3 Contents of the module
The course initially covers methods of descriptive time series analysis. Then, structural theory and
estimation of time series models are discussed. Core topics include approximation and elimination of
trends, the theory of linear filters, ‘naive’ forecasting, exponential smoothing, stationary stochastic
processes, optimal linear forecasts, ARMA-processes, the autocorrelation function, model identification
and parameter estimation in the time domain.
4 Competences
Participants gain insight on the most common methods for time-dependent data and are able to apply
these methods.

5 Examinations
Graded written exam. The lecturer may include further requirements necessary to attend the final exam.
These requirements and the form of the examination will be announced at the beginning of the course.

6 Type of Examination
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Compulsory module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. R. Fried / Prof. Dr. C. Jentsch TU Dortmund University, Department of Statistics
 Blocks
Compulsory Electives
ME5-ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Each semester 2-3 semesters 1st to 3rd semester 48 1.440 h

1 Structure of the module

No. Courses Type Credit Points Credit Hours
1 Block ME5: Economics At least 11, 330 – 780h
at most 26
2 Block ME6: Applied Econometrics At least 11, 330 – 780h
at most 26
3 Block ME7: Econometric Methods At least 11, 330 – 780h
at most 26
2 Language of instruction
English or German
3 Contents of the module
In the compulsory elective areas, students acquire content-related material and specialist competences
for practical use.
With regard to the precise learning contents of the individual courses, participants are referred to the
module descriptions for the respective elective block.
4 Competences
Participants acquire knowledge about current theoretical developments in micro- or macroeconomics,
applied econometrics and econometric methods. The focus is on the discussion, adaptation and
application of various econometric tools on the one hand and on advanced and up-to-date topics of
economic interest on the other hand.
5 Examinations
The examinations depend on the modules in the respective compulsory elective areas and the module
manuals on which they are based. In each compulsory elective block, modules with a minimum of 11
credit points have to be successfully completed. A total of 48 credit points must be acquired.
6 Type of Examination
Either covering the entire module or relating to individual courses, depending on the chosen module.

7 Requirements
The entry requirements for the individual modules are based on the module descriptions of the
respective selected modules.
8 Status of the Module
Elective modules in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Lecturers from the responsible departments Participating departments from TU Dortmund
University, University of Duisburg-Essen and Ruhr-
University Bochum
Module: Master Thesis Module ME8

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Each semester 1 semester 4. semester 30 900 h

1 Structure of the module

No. Courses Type Credit Points Credit Hours
1 Master Thesis 22.5 675
2 Disputation 7.5 225
2 Language of instruction
English
3 Contents of the module
The master thesis demonstrates that students are able to independently apply and adapt scientific
methods to an econometric problem within a given period of time. The thesis needs to be completed
within six months. Topics are offered each semester by the entire faculty of the program, so that
students can choose from a variety of topics. They are also welcome to make their own suggestions for
topics. The thesis can also be written at - or on collaboration with - an external public or private
institution.
After submission of the master thesis, the results are to be presented in form of a disputation.
4 Competences
With the successful completion of the Master thesis, the students show that they have the ability to
independently conduct econometric research.

5 Examinations
Master Thesis (75%) and disputation (25%).

6 Type of Examination
covering the entire module Relating to individual courses

7 Requirements
At least 42 credit points in the compulsory area as well as 30 credit points in the compulsory elective
area. To participate in the disputation, the Master Thesis must have been passed with at least the grade
"sufficient" (4.0).

8 Status of the Module

Compulsory module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Lecturers from the responsible departments Participating departments from TU Dortmund
University, University of Duisburg-Essen and Ruhr-
University Bochum
Compulsory Elective Courses

The set of compulsory electives is subject to change over time. We will react to new developments in
econometrics through suitable additions to the current list of compulsory electives. At the same time,
changes in the composition of the program's faculty through, e.g., new hires or retirements will be
reflected in the course offerings. In particular, new teaching staff will contribute new expertise. Also
note that some compulsory electives may be credited for more than one block (ME5-ME7)

Block ME5 (Economics)

The following list gives a selection of possible courses. Courses that can be selected for this area will be
identified in the course catalog available online.

Course Type Credit Credit

Points Hours
TU Dortmund University
Advances in Public Economics and Political L+T 7.5 4
Economy
Applied Economics I L+S 7.5 4
(Applied Monetary Economics)
Applied Economics III L+T 7.5 4
(Advanced Business Cycle Analysis)
Labor Economics L integrated E 7.5 4
Law and Economics L+T 7.5 4
Makroökonomie I (Economic Growth and L integrated E 7.5 4
Historical Development)
Makroökonomie IV L+T 7.5 4
(Dynamic Macroeconomics)
Mikroökonomie I L+T 7.5 4
(Microeconomics)
Narrative Economics and the Media L+S 7.5 4
Seminar Microeconomics S 7.5 4
Soziale Sicherung S 7.5 2
Ruhr-University Bochum
Seminar in Advanced International trade S 5 2
Business Cycle Analysis and Forecasting L 10 2
Current Topics in Health Economics S 5 2
Economic Policy and the Media S 5 4
Economics of Innovation L+T 10 4
Labor Economics L+T 5 4
Macroeconomics II L+T 5 4
Market- and Non-Market Valuation of S 5 2
Environmental Goods
Microeconomics I L+T 5 4
Microeconomics II L+T 5 4
Network Economics L+T 5 4
Public Economics L+T 10 5
Seminar in Applied Economic Policy S 5 2
Seminar on Health Economics and Health S 5 2
Policy
Seminar Public Choice S 5 2
University of Duisburg-Essen
Advanced Forecasting in Energy Markets S 6 2
Advanced Industrial Organization L+T 6 4
Electricity, Renewables and District Heating L+T 6 4
Empirie der internationalen Geld- und L+T 6 4
Finanzmärkte
Energy Markets and Price Formation L+T 6 4
Entscheidungstheorie L+T 6 4
International Capital Movements: Theory and L+T 6 4
Econometric Evidence
Labour Economics and Public Policy L integrated E 6 4
Migration Economics L integrated E 6 4
Neuere Entwicklungen der Mikroökonomik Kolloqium 6 2
Selected Topics in Empirical Capital Market S 6 2
Research
Seminar Health and Development S 6 2
Seminar Labour Economics and Public Policy S 6 2
Seminar Soziale Sicherung und Besteuerung: S 6 4
Empirische Studien und eigene Projekte
Stock Market Anomalies and Quantitative L integrated S 6 4
Trading Strategies
Structuring and Valuation L+T 6 4
Block ME6 (Applied Econometrics)

The following list gives a selection of possible courses. Courses that can be selected for this area will be
identified in the course catalog available online.

Course Type Credit Credit

Points Hours
TU Dortmund University
Advanced R L+T 3 4
Advanced Text Mining Methods S 7.5 4
Applied Bayesian Data Analysis L+T 9 6
Applied Economics I L+S 7.5 4
(Applied Monetary Economics)
Applied Economics II L+T 7.5 4
(Applied Macroeconometrics)
Bayesian Data Analysis S 4 2
Causal Inference L+T 4.5 3
Deep Learning L+T 9 6
Econometric Forecasting L+T 4.5 3
Econometrics of treatment effects and policy L+T 4.5 3
evaluation
Einführungskurs in SQL und APIs L+T 2 2

Finance I L+T 7.5 4

(Data and AI in Economics)
Finance III L+T 7.5 4
(Financial Econometrics)
Machine Learning for Economic Data L+T 4.5 3
Programming with Julia L+T 3 3
Programming with Python L+T 3 3
Programming Course with R L+T 3 3
Programming with SAS L+T 3 3
Wirtschaftspolitik II (Microeconometrics and L+T 7.5 4
Empirical Applications)
Wirtschaftspolitik IV S 7.5 4
Finance V L+T+S 7.5 4
(Research Topics in Finance, Risk- and
Resourcemanagement)
Ruhr-University Bochum
Applied Econometrics with R L+T 5 4
Applied Time Series Analysis L+T 10 4
Business Cycle Analysis and Forecasting L 10 2
Data Analysis Using R S 10 2
Introduction to Empirical Macroeconomics L 10 2
Introduction to Microeconometrics L+T 5 2
Econometric Evaluation of Economic Policies L 5 2
Machine Learning and Programming in Python L 5 2
Quantitative Regional Economics S 5 1
Seminar in Microeconometrics S 10 4
University of Duisburg-Essen
Advanced R for Econometricians L+T 6 4
Applied Labour Economics L integrated E 6 4
Econometrics of Electricity Markets L+T 6 4
Empirical Finance L 5 2
Empirische Bilanzanalyse L+T 6 4
Empirische Methoden L+T 6 4
Financial Mathematics L+T 6 4
Financial Risk Management L+T 6 4
Inequality in Health L integrated E 6 4
Mikroökonometrie L+T 6 4
Portfolio Management L+T 6 4
Practising Econometric Research S 6 4
Quantitative Climate Finance L+T 6 4
Quantitative Modelle internationaler L+T 6 4
Wirtschaftsbeziehungen
Selected Topics in Risk Management S 6 2
Statistical Learning L+T 6 4
Block ME7 (Econometric Methods)

The following list gives a selection of possible courses. Courses that can be selected for this area will be
identified in the course catalog available online.

Course Type Credit Credit

Points Hours
TU Dortmund University
Advanced Bayesian Data Analysis L+T 4.5 3
Advanced Econometrics L+T 9 6
Advanced Statistical Learning L+T 9 6
Advanced Text Mining Methods S 7.5 4
Applied Bayesian Data Analysis L+T 9 6
Bayesian Econometrics L+T 4.5 3
Bayes-Statistik L+T 9 6
Bootstrap Methods L+T 9 6
Causal Inference L+T 4.5 3
Econometric Forecasting L+T 4.5 3
Econometrics of treatment effects and policy L+T 4.5 3
evaluation
Empirical processes L+T 4.5 3
Financial Econometrics L+T 4.5 3
Generalized Linear Models L+T 9 6
Maschinelles Lernen L+T 6 4
Multiples Hypothesentesten L+T 4.5 3
Panel Data Analysis l L+T 4.5 3
Panel Data Analysis ll L+T 4.5 3
Resampling Verfahren S 4 2
Robuste statistische Verfahren L+T 9 6
Robuste statistische Verfahren L+T 4.5 3
Seminar in Econometrics S 4 2
Seminar in Zeitreihenökonometrie S 4 2
Sequentielle Verfahren L+T 9 6
Statistical Methods for Counting Processes L+T 4.5 3
Statistical Network Analysis L+T 4.5 3
Statistik extremer Risiken L+T 9 6
Stochastische Prozesse L+T 9 6
Survival Analysis L+T 9 6
Time Series Econometrics S 4 2
Unit Root and Cointegration Analysis L+T 9 6
Wissensentdeckung in Datenbanken L+T 8 6
Ruhr-University Bochum
Financial Econometrics L+T 10 4
Introduction to Artificial Intelligence L+T 5 2
Multivariate Statistical Methods L+T 10 4
Seminar in Econometrics S 10 2
University of Duisburg-Essen
Bayesian Econometrics L+T 6 4
Causality and Programme Evaluation L integrated T 6 4
Multivariate Time Series Analysis L+T 6 4
Nonparametric Econometrics L+T 6 4
Financial Econometrics L+T 6 2
Seminar Ökonometrische Methoden S 6 2
Statistical Learning L+T 6 4
Statistical Modelling of Extremes L+T 6 4
Statistisches Seminar S 6 2
Stichprobentheorie L+T 6 4
Stochastic Simulation L+T 6 4
Prohibited Combinations of Compulsory Elective Courses

The chosen courses may not coincide with similar courses already chosen within one of the compulsory
elective blocks.

The prohibited combinations of similar courses are the following:

g
in
is
La chi tis me at rici n

m
ic A n s
ys
tio
an

am
al
M s- Eco sia om iza

is

o n gr
a on on tric ly s
n y e on an

D t

th ro
e

s
bo ne tik tr a

a
B sia Ba Ec Org

ne is II ic

Py d P
D oe oe me A n
s

M A n om om s
hi ly s cs etr
ts on ic en

ni g R

ith n
r l

r cr o s
n

I
fo a

w ga
M . M co erie
In ci me ik I

ar in
B nc R stri

W oök no er

Fi ied sp II
A ch om s

Le Us

n
L
a no

T olit
ft ie
du

E S

i
m

n
g

c
s
A nc nin

M r E lle
A nc I n

n i
a d

a d

e d
a r

o
as S t

ac a
dv e a

tr al
c

pp a
dv e

dv e

ay e

ac i
at c
L

o
t.

l
r

na
ay

ir
ta

ik
S

X X Bayesian Econometrics
X Entscheidungstheorie
X Labour Economics and Public Policy
X X Mikroökonometrie
Stat. Modelling of Extremes
X Stat. Learning
X X Advanced R
X Advanced Bayesian Data Analysis
X X Applied Bayesian Data Analysis
X X X Machine Learning for Economic Data
X Programming with Python
X X Wissensentdeckung in Datenbanken
X Applied Economics II
X X Finance I
X Finance III
X Wirtschaftspolitik II
X Mikroökonomie I (Game Theory)
X Makroökonomie IV
X Labor Economics
X Data Analysis Using R
X Microeconomics II
Universität Duisburg-Essen - Faculty of Business Administration & Economics
TU Dortmund - Faculty of Statistics
TU Dortmund - Faculty of Computer Science
TU Dortmund - Faculty of Business and Economics
Ruhr-Universität Bochum - Faculty of Management & Economics
Recommended Course of Study
Compulsory Elective Courses – Ruhr-University Bochum

Module: Seminar in Advanced International Trade ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Seminar in Advanced International Trade S 5 150 h
2 Language of instruction
English
3 Contents of the module
The seminar deals with different core topics in the area of international trade. It combines theoretical
and empirical perspectives. For instance, the seminar deals with firm behavior on global markets, global
value chains, trade policy or the nexus between trade and labor markets.
4 Competences
The seminar will deal with major issues in international trade. By enrolling in this seminar, students can
broaden and employ their theoretical and econometrics knowledge to this subfield of economics.

5 Examinations
The final module examination consists of a written seminar paper. An additional course achievement
can be accomplished in the form of an oral presentation of the seminar paper, for which bonus points
can be earned. A maximum of 75 points can be earned for the seminar paper, and a maximum of 25
points for the presentation. The module score then results from a scale of points ranging from zero to
100 points. The bonus points will also be credited of the module finale examination would not have been
passed without the bonus points.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
Obligatory: International Trade
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Matthias Busse / Jun.-Prof. Dr. Sanne RUB Faculty of Management and Economics
Kruse-Becher
Module: Current Topics in Health Economics ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Current Topics in Health Economics S 5 150 h
2 Language of instruction
English
3 Contents of the module
In this seminar students will explore a variety of current topics in health economics. The topics will cover
both empirical and theoretical contributions. Students will prepare their seminar papers in the first half of
the semester and present their papers in the second half of the semester. Further course details will be
given at the introductory meeting.
4 Competences
Students enhance their ability to understand and assess scientific literature. They also strengthen their
knowledge of econometric methods by examining the methodology employed by relevant peer-reviewed
papers. During the seminar, students get to know current issues in health economics, learn to write a
seminar paper and improve their presentation skills.
5 Examinations
65%: Term paper
25%: Presentations
10%: Active participation in the course

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, sufficient proficiency in microeconomics and microeconometrics in order to be able to
read and understand the current international theoretical or empirical literature is strongly
recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Ansgar Wübker RUB Faculty of Management and Economics
Module: Economic Policy and the Media ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 2nd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Economic Policy and the Media S 5 150 h
2 Language of instruction
English
3 Contents of the module
The seminar focusses on the interplay between politics, the market and the media. Which economic
policy issues rise to the top of the public agenda, and which ones don’t? Which ones are being
prioritized, and which ones neglected? Whose interests are highlighted, and whose are largely ignored?
Studying these questions may be just a sideshow in standard economics. However, they are at the core
of the practical conduct of economic policy. The seminar offers concepts to systematically evaluate
current policy issues and their public perception. Special attention is devoted to the news media, who
play an outsized role in setting the economic policy agenda setting.
4 Competences
The seminar enables students to analyze the dynamics involved in the setting of the economic policy
agenda.

5 Examinations
Participants are asked to write 15-to-20-pages term papers, that apply these approaches to specific current
economic policy issues. In a final session (presence) the results are presented and discussed

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
Basic knowledge of the major fields of economic policy (e.g. monetary, fiscal, tax, trade, competition,
labor, social protection...). General interest in current issues.

8 Status of the Module

Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Michael Ross and Prof. Dr. Henrik Müller RUB Faculty of Management and Economics
Module: Economics of Innovation ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter Semester 1 Semester 1st to 3rd semester 10 300 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Economics of Innovation L+T 10 4
2 Language of instruction
English
3 Content of the Module
Market structure and the incentive to innovate, competition and innovation, patent policy
(optimal patent length and optimal patent breadth), patent races.

4 Competences
Students learn about the crucial role of innovation and technical progress from a microeconomic
perspective. The focus is not on perfect competition via prices, but on the competition of ideas
(Schumpeter's "creative destruction"). The modul analyses the role of industry structure for
innovation incentives. The students should be able to understand the trade off in patent policy
between setting ex ante the right incentives to innovate and the ex post deadweight welfare loss
due to monopoly. The role of government in setting patent policy is explained.
In the follow up semester, there is usually a seminar on the economics of innovation. In order to
attend the seminar, it is a necessary condition to have attended and passed this module, because
the content of this module is a prerequisite to understand the models of the seminar.
5 Examinations
The module grade results from the grade of a seminar paper. Up to 25 % of the total number of points
attainable in the module can be acquired as bonus points in a written exam. The best grade cannot be
achieved without bonus points. Bonus points are only credited if the seminar paper achieves a passing
grade without the bonus points.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
Good knowledge of microeconomics and mathematics. Good command of English.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Dr. Robledo RUB Faculty of Management and Economics
Module: Labor Economics ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer Semester 1 Semester 1st to 3rd semester 5 150 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Labor Economics L+T 5 150
2 Language of instruction
English
3 Content of the Module
The labor market affects the daily lives and the welfare of every individual directly. Hence, the analysis of
labor markets is of importance and interest not only to economists but to the population at large. Labor
economics is a very challenging and a stimulating area in economics due to the special characteristics of
the labor market. For example, different to capital workers are not commodities with fixed characteristics
and make decisions about the nature of their participation in the labor market. Institutions affect the labor
market much more than any other market. The aim of this module is to give an understanding of the
distinctive features of labor markets and the ways in which they operate. Among other things, we will
analyze labor supply, labor demand, human capital, and the role of different labor market institutions and
labor market policies for wages and employment. Throughout the module, we attempt to integrate
theoretical issues and empirical evidence, and to address questions of policy. The latter will concentrate
on European issues.
4 Competences
The aim of this module is to develop an understanding of the distinctive features of labor markets and the
ways in which they operate. Among other things, we will analyze labor supply, labor demand, human
capital, and the role of different labor market institutions and labor market policies for wages and
employment. The students learn to interpret the implications and consequences of different labor market
policies. Throughout the module, we attempt to integrate theoretical issues and empirical evidence in order
to apply the theoretical models to real world problems. Also, questions of policy concentrating on European
issues will be addressed.
5 Examinations
The final grade of the module is determined by the grade of the final examination. An additional academic
achievement can be obtained in the form of a presentation of a research paper as part of the exercise. Up
to 5 bonus points can be earned, which are then credited towards the points achieved in the final exam.
The bonus points will also be credited if the final exam would not have been passed without the bonus
points.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
Good knowledge of microeconomics and
mathematics. Good command of English.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Dr. Thomas Bauer RUB Faculty of Management and Economics
Module: Macroeconomics II ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Macroeconomics II L+T 5 150 h
2 Language of instruction
English
3 Contents of the module
The course will consider both economic theory and advanced mathematical techniques. The first part of
the course will cover continuous time dynamics (ordinary differential equations, systems of linear
differential equations, the concepts of stability and phase diagrams), systems of difference equations,
and chaos theory. In the second part, we will cover economic applications (e.g., closed economic
dynamics, employment and inflation, etc.) of these procedures. The software R is ideally suited for
solving and plotting dynamic systems; its use and knowledge will be required to solve the problem sets
proposed during the course.
4 Competences
• To deepen knowledge and understanding of macroeconomic theories and dynamics.
• To improve mathematical skills and concepts.
• To acquire practical skills in using the R software for computational purposes.

5 Examinations
Written exam (100% of the final grade)
Mid-Term exam (not graded)

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, knowledge of macroeconomic models and concepts at the principles to intermediate
level is expected. We will work intensively with R software: it is not necessary to have previous
experience with this software, but the willingness to learn how to use it is expected.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Michael Roos RUB Faculty of Management and Economics
Module: Market- and Non-Market Valuation of Environmental Goods ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Market- and Non-Market Valuation of S 5 150 h
Environmental Goods
2 Language of instruction
English
3 Contents of the module
The valuation of environmental goods and amenities is often complicated by the lack of market
prices. This seminar will deal with empirical methods to estimate the value of environmental goods
and amenities. Methods to be covered include both market and non-market valuation methods,
such as hedonic pricing, contingent-valuation and revealed-preference methods to elicit
willingness-to-pay and willingness-to-accept.
4 Competences
Students acquire knowledge on empirical methods to estimate the value of environmental goods
and amenities. Furthermore, they improve their ability to understand and assess scientific
literature, learn to write a seminar paper and to present their work.

5 Examinations
Term paper (10 pages) with presentation (15 min)

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Manuel Frondel and postgraduates of RUB Faculty of Management and Economics
RWI
Module: Microeconomics I ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Microeconomics I L+T 5 150 h
2 Language of instruction
English
3 Contents of the module
The module covers standard microeconomic topics at graduate level: consumer choice, production and
costs, competitive markets, general equilibrium, efficiency and welfare theorems.

4 Competences
This module is an introduction to modern microeconomics and its applications to applied economic
policy at graduate level. Students learn the standard modelling techniques. After attending this module,
students should be able to read and understand microeconomic oriented scientific literature.

5 Examinations
The module final grade is determined entirely by the grade of the final exam.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, good knowledge of microeconomics and mathematics is strongly recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Julio R. Robledo RUB Faculty of Management and Economics
Module: Microeconomics II ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Microeconomics II L+T 5 150 h
2 Language of instruction
English
3 Contents of the module
The module covers standard industrial organizational topics at graduate level: monopoly, oligopoly,
price discrimination, horizontal and vertical product differentiation, bundling and tying.

4 Competences
This module is an introduction to modern microeconomics and its applications to applied economic
policy at graduate level. Students learn the standard modelling techniques. After attending this module,
students should be able to read and understand industrial organizational oriented scientific literature.

5 Examinations
The module final grade is determined entirely by the grade of the final exam.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, good knowledge of microeconomics and mathematics is strongly recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Julio R. Robledo RUB Faculty of Management and Economics
Module: Network Economics ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer Semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Network Economics L+T 5 150 h
2 Language of instruction
English
3 Contents of the module
This module analyses competition on network markets with the tools of industrial economics. Topics are
complementarities, compatibility, network externalities, switching costs etc. The focus is on the hardware
and software industry, telecommunication, informational goods, bank networks, etc. Previous knowledge
in industrial organization is helpful, but it not a prerequisite, since we will briefly review the main concepts.
The students should obtain a sound knowledge in network economics that allows them to read and
understand original papers in the literature.
4 Competences
This module is an introduction to network markets and its applications to applied economic policy.
Students learn the standard modelling techniques. After attending this module, students should be able
to read and understand network oriented scientific literature.

5 Examinations
The module final grade is determined entirely by the grade of the final exam.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, good knowledge of microeconomics and mathematics is strongly recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Julio R. Robledo RUB Faculty of Management and Economics
Module: Public Economics ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 10 300 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Public Economics L+T 10 300 h
2 Language of instruction
English
3 Contents of the module
The course provides an overview over advanced theoretical models and empirical results of the modern
public economics literature. Topics covered are taxation (efficiency, incidence and optimal taxation),
public debt (normative justifications for public debt, political economy considerations, the European debt
crisis), the role of government institutions, public good provision, externalities, social insurance (adverse
selection and moral hazard), redistribution and social welfare as well as international aspects of public
economics (international tax and systems competition). The course also provides a brief introduction to
micro-econometric methods used in modern empirical public economics.
4 Competences
Students are enabled to explain basic theoretical and empirical concepts of the modern public
economics literature. They are in the position to understand and critically assess modern theoretical and
empirical work in this filed. They are furthermore familiar with empirical policy evaluation methods and
can implement them in Stata.
5 Examinations
100% written exam

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, good knowledge of microeconomics and econometrics as well as an interest in
combining microeconomic theory with empirical research is strongly recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Thushyanthan Baskaran RUB Faculty of Management and Economics
Module: Seminar on Health Economics and Health Policy ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Seminar on Health Economics and Health S 5 150 h
Policy
2 Language of instruction
English
3 Contents of the module
The German population is projected to contract by more than 10% by 2050. This makes Germany
relatively unique among larger EU countries, which are forecast to face less dramatic decline (Italy) or
even grow slightly (France, Spain, UK) over the same period (UN, 2012). While the German population
will decline overall, the number of elderly people will continue to grow as the population ages. An
increasing old-age dependency ratio creates enormous challenges for health insurance, health care and
long-term care (LTC) in Germany. Moreover, the changing size and composition of the population is not
affecting all parts of Germany in a uniform way: this process is known as geo-demographic change.
Some regions are thus facing particular challenges due to a rapidly ageing population and dwindling
human resources in the care sector.
In this seminar students will prepare a term paper based on selected challenges imposed by population
aging and the geo-demographic change. The topics will cover both empirical and theoretical
contributions. Students will thus have the possibility to acquire important knowledge and methodological
skills for the successful completion of a master thesis in health economics and related fields. Students
will prepare their seminar papers in the first half of the semester and present their papers in the second
half of the semester. Further course details will be given at the introductory meeting.
4 Competences
Students enhance their ability to understand and assess scientific literature. They also strengthen their
knowledge of econometric methods by examining the methodology employed by relevant peer-reviewed
papers. During the seminar, students get to know current issues in health economics, learn to write a
seminar paper and improve their presentation skills.
5 Examinations
Term paper with presentations and active participation in the course

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, sufficient proficiency in microeconomics and microeconometrics in order to be able to
read and understand the current international theoretical and empirical literature is strongly
recommended. Moreover, students should be interested in health policy issues.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Ansgar Wübker RUB Faculty of Management and Economics
Module: Seminar Public Choice ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
irregularly 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Seminar Public Choice S 5 150 h
2 Language of instruction
English
3 Contents of the module
The seminar aims to improve the understanding of political institutions and decision making in
democracies from a theoretical and empirical perspective. After a kick-off meeting at the beginning of
the semester, students are expected to write a term paper on current topics in public choice and present
their results in a block seminar. They critically assess empirical research in this area. Further course
details will be given in the introductory meeting.

4 Competences
Students enhance their ability to understand and assess scientific literature. During the seminar,
students get to know current issues in public choice, learn to write a seminar paper and improve their
presentation skills.

5 Examinations
The final module examination consists of a term paper (70% of the final grade) and an oral examination
(30% of the final grade). You must receive at least a grade of 4,0 both for the term paper and the oral
examination to pass the module examination.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
Credit points are awarded after successful completion of the final module examination. Participation in
the final module examination requires that the student has previously completed an examination in the
form of a presentation in which at least 50% of the attainable points have been achieved.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Thushyanthan Baskaran RUB Faculty of Management and Economics
Module: Applied Econometrics with R ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Applied Econometrics with R L+T 5 150 h
2 Language of instruction
English
3 Contents of the module
Econometrics allows to analyze data sets characterizing economic problems in a quantitative manner.
To that end, economic models are cast into econometric models, which can then be applied to the
economic data at hand. Two of the most important econometric models are the univariate and
multivariate linear regression models, whose properties and underlying assumptions are discussed in
detail. Remedies for violations of the assumptions are likewise discussed. A short overview of time
series models is likewise given. These models are then implemented in the software package R, using
existing and creating new code, and applied to artificially created and actual data sets. Results are
analyzed and described.
4 Competences
Participants should be enabled to distinguish different econometric models and explain their respective
properties. They should apply these models to various economic and other data sets and interpret the
results. In a situation where violations of certain assumptions are found, they should choose an
appropriate approach and decide how to implement it. In the programming exercises, which use the
software package R, students are supposed to apply code from pre-existing packages and develop new
code based on the methodology studied in the course. Participants should be able to analyze and
interpret their program outputs.
5 Examinations
Final grade is the grade of the final exam.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
–None. However, basic knowledge of regression analysis and analytical statistics is strongly
recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Vasyl Golosnoy RUB Faculty of Management and Economics
Module: Applied Time Series Analysis ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 10 300 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Applied Time Series Analysis L+T 10 300 h
2 Language of instruction
English
3 Contents of the module
This course provides the review of time series models widely applied in economics and finance. Starting
from univariate linear ARMA models we consider a broad class of linear and non-linear time series
approaches (including ARIMA, GARCH, VARMA, etc.) with focusing on estimation and forecasts.
4 Competences
Participants should understand and make use of modern time series techniques in empirical research.

5 Examinations
Final grade is the grade of the final exam.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, at least one graduate course in Econometrics is strongly recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Vasyl Golosnoy RUB Faculty of Management and Economics
Module: Business Cycle Analysis and Forecasting ME5 & ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 10 300 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Business Cycle Analysis and Forecasting L 10 300 h
2 Language of instruction
English
3 Contents of the module
Business cycle forecasting is an important contribution to effective planning, e.g. in businesses and
government agencies. For this reason, this course covers essential techniques for forecasting economic
variables. Students will learn to identify important properties of the data that have to be included in the
forecasting model. In addition, elementary forecasting techniques and econometric models will be
introduced in this course. Finally, we discuss approaches to modify and adjust model-based forecasts
using expert knowledge.

4 Competences
Students in this class will learn the skills to do business cycle forecasting, to estimate different
econometric models, to compare forecasting models and to assess the forecasting performance of a
model.

5 Examinations
Written Exam

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Torsten Schmidt RUB Faculty of Management and Economics
Module: Data Analysis Using R ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 10 300 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Data Analysis Using R S 10 300 h
2 Language of instruction
English
3 Contents of the module
The module is divided into two parts. In the first half of the semester, students learn the basics and core
components of data analysis with R in a lecture. The lecture covers the most important steps of data
analysis projects: from importing and preparing raw data, explorative data analysis and visualization,
formulating the empirical model to communicating the results. Practical examples show how these steps
can be implemented using a set of R packages known as the tidyverse. In addition, it will be shown how
to generate reports in R using the open-source scientific and technical publishing system Quarto. A
special focus of the lecture is to introduce students to collaboration via version-controlled remote
repositories. For this purpose, students will be shown how to create and manage a repository using
GitHub. In the second half of the semester, students will work independently in groups on their own data
analysis project. Based on the content of the lecture, a GitHub repository will be created in group work,
which the students will use to prepare a data set and perform an econometric analysis. At the end of the
semester, the students will share the results of their work in a presentation created with Quarto.
4 Competences
The module aims to enable students to conduct their own empirical projects using the statistical
software R. By the end of the module, the students will be equipped with the necessary skills to
independently conduct and manage empirical projects outside of this course, such as a master thesis.
Students will also learn how to use git repositories for version control and collaboration, preparing them
for possible careers in data analytics after graduation. By presenting the results of the project to their
fellow students, the students can further improve their skills in in scientific presentation and time
management.
5 Examinations
The final module examination consists of a presentation and the submitted code repository. Both,
presentation and code, count equally towards the final grade.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, basic knowledge of the statistical software R is assumed. Course materials for an
introduction to R are provided and can be studied on your own.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Thomas K. Bauer RUB Faculty of Management and Economics
Module: Introduction to Empirical Macroeconomics ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 10 300 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Introduction to Empirical Macroeconomics L 10 300 h
2 Language of instruction
English
3 Contents of the module
Macroeconomics is about analyzing and forecasting economic developments at the national and
international level. Related to this, it is often of great importance to quantify the effects of
economic shocks and economic policy measures on macroeconomic variables, like GDP and
employment. A crucial topic is therefore the identification and quantification of relationships
between macroeconomic variables. The primary objective of this course is to provide an overview
of methods suitable for this task. It is necessary to start with an introduction to the main
macroeconomic models and the related data. However, the main focus is on the application of
econometric methods.
4 Competences
Analytical and logical thinking, critical reflection on the methods used.

5 Examinations
Written exam (90 min)

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Torsten Schmidt RUB Faculty of Management and Economics
Module: Econometric Evaluation of Economic Policies ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 5 150
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Econometric Evaluation of Economic Policies L 5 150
2 Language of instruction
English
3 Contents of the module
Tight public budgets increase the need to learn more about the effectiveness and efficiency of public
policy measures. The empirical evaluation of these policies, however, is connected with difficult
methodological problems. This module discusses the newest developments in the literature on the
empirical evaluation of economic policy measures. A lecture introduces the basic concepts. Central
contributions to the literature will be presented by the students themselves and discussed by the
participants in a detailed way.
4 Competences
After participation, the students should be able to understand the newest econometric techniques
developed for the evaluation of economic policies. They should understand their basic identification
strategy, the necessary data to implement these strategies as well as the main problems of these
strategies. The module aims to give the students the necessary skills to read and understand the
scientific literature in this area and to give a critical assessment of empirical evaluation studies.
5 Examinations
The final module examination consists of a presentation or a written exam. The final grade corresponds
to the grade of the presentation or the written exam.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, advanced knowledge of empirical research and/or econometrics is recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Thomas K. Bauer RUB Faculty of Management and Economics
Module: Machine Leaning and Programming in Python ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 5 150
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Machine Leaning and Programming in L 5 150
Python
2 Language of instruction
English
3 Contents of the module
The module deals with basic and advanced models and methods from data science. The focus is on
applications of the methods in the field of economics. Using the programming language Python,
numerical datasets and text data are analysed and machine learning/ deep learning models are
developed. Topics include regularisation, supervised learning, classification, decision trees, random
forests, unsupervised learning, k-means clustering, deep learning, neural networks, natural language
processing.
4 Competences
In this module, students get to know basic and advanced models and methods from data science. The
techniques are applied using the programming language Python. After successfully completing the
module, students are able to understand a wide variety of methods of machine learning/ deep learning/
neural networks. They can develop models that implement procedures in Python, understand methods
of natural language processing, analyse numerical datasets and text data, and understand applications
of machine learning models in economics
5 Examinations
The final module examination consists of a presentation or a written exam. The final grade corresponds
to the grade of the presentation or the written exam.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, advanced knowledge of empirical research and/or econometrics is recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Astrid Krenz RUB Faculty of Management and Economics
Module: Quantitative Regional Economics
ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Every Semester 1 Semester 1st to 3rd semester 5 150 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Seminar Quantitative Regional Economics S 5
2 Language of instruction
English
3 Content of the Module
• Comprehensive overview about empirical regional economics a
• geographical data and public data
• Application of methods in R
• Analysis of data in R
• Regression analyses
• Visualization of geographical relations
• Development of a regional economic question
• Working on a regional economic question and application of quantitative methods
• Creation of a presentation as a dynamic document containing the results in LaTeX
4 Competences
Students shall be able to gain an overview about the methods of regional research. They shall work with
geographical data, process the data in R and show application of the methods of investigation in R. Results
shall be analyzes, discussed and presented. The students are expected to program all analyzes and
visualize results accordingly. The complete process of developing a research question, documenting and
programming, and visualization of the results have to be shown in a final presentation.
5 Examinations
The final module grade results from the grade of an individually held presentation which contains the
development, processing and the results of the chosen research question. Credit points are awarded after
successful completion of the final module examination and an obligatory hand-in of the
presentation’s program code.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements

8 Status of the Module

Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Modulbeauftragte/r: Prof. Dr. Michael Roos RUB Faculty of Management and Economics
Lehrende: Dr. Imke Rhoden
Module: Seminar in Microeconometrics ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
As offered 1 semester 1st to 3rd semester 10 300 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Seminar in Microeconometrics S 10 300 h
2 Language of instruction
English
3 Contents of the module
This module deals with the econometric analysis of micro data. The first lectures will review the basic
econometric methods and introduce the participants into the software package STATA. Afterwards, the
students work on their own empirical project. As part of this project, the students review the relevant
literature, identify their research question, prepare the underlying data, and empirically analyze the data
by applying basic and advanced econometric methods. The results of the projects are presented to the
class and documented in a term paper.
4 Competences
By the end of this course, students should be able to understand and evaluate empirical studies based
on micro data and to conduct small empirical projects independently. Based on their analyses, students
should learn to write a scientific paper and to present their research results to the class.

5 Examinations
The final module examination consists of a term paper (20 pages). Additional study achievements can
be acquired through an oral presentation and discussion, for which bonus points can be awarded. A
maximum of 25% bonus points will be awarded for the presentation. The best grade can only be
achieved, if the student has earned bonus points. The bonus points will not be credited if the final
module examination would have not been passed without bonus points.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, advanced knowledge of empirical research and/or microeconometrics is strongly
recommended. Basic knowledge of STATA is helpful.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Thomas K. Bauer RUB Faculty of Management and Economics
Module: Financial Econometrics ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 10 300 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Financial Econometrics L+T 10 300 h
2 Language of instruction
English
3 Contents of the module
This course provides the review of empirical methods applied in a quickly growing field of financial
econometrics. The course concentrates on describing and modelling stylized facts found in return and
volatility time series. The important financial models (CAPM, APT) are discussed from the empirical
point of view as well.
4 Competences
Participants should understand and make use of modern econometric techniques for modelling financial
processes.

5 Examinations
Final grade is the grade of the final exam.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, at least one graduate course in Econometrics is strongly recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Vasyl Golosnoy RUB Faculty of Management and Economics
Module: Introduction to Artificial Intelligence ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Introduction to Artificial Intelligence L+T 5 150 h
2 Language of instruction
English
3 Contents of the module
This course gives an overview over representative methods in artificial intelligence: formal logic and
reasoning, classical methods of AI, probabilistic reasoning, machine learning, deep neural networks,
computational neuroscience, neural dynamics, perception, natural language processing, and robotics.

4 Competences
After successful completion of this course, students will be able to

• summarize a number of fundamental methods in artificial intelligence,

• explain their mathematical basis and algorithmic nature,
• apply them to simple problems,
• decide which methods are suitable for which problems, and
• communicate about the above aspects in English.

5 Examinations
The final module examinations consist of a written exam. The final grade corresponds to the grade of
the written exam.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Laurenz Wiskott RUB Faculty of Computer Science
Module: Introduction to Microeconometrics ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Introduction to Microeconometrics L+T 5 150 h
2 Language of instruction
English
3 Contents of the module
This module deals with the advanced analysis of econometric methods applicable to micro data. In
particular, discrete choice and selection models as well as advanced empirical evaluation methods are
covered. Within the lecture, the participants are introduced to the theoretical concepts of the methods.
4 Competences
By the end of this course, students should be able to understand and evaluate empirical studies based
on micro data and to be proficient in the subject-related terminology. Moreover, they should have the
ability to choose the right empirical strategy based on a given dataset/problem.

5 Examinations
The final module examinations consist of a written exam. The final grade corresponds to the grade of
the written exam.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, advanced knowledge of empirical research and/or econometrics is recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Thomas K. Bauer RUB Faculty of Management and Economics
Module: Multivariate Statistical Methods ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 10 300 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Multivariate Statistical Methods L+T 10 300 h
2 Language of instruction
English
3 Contents of the module
This course provides the review of multivariate statistical methods, e.g. principal component analysis,
factor analysis and discriminant analysis, which are of great importance in empirical economic research.

4 Competences
Participants should understand and make use of different multivariate statistical methods and apply
them to economic and other data sets. In the written exercises, methods are applied, compared and
evaluated. In the programming exercises, which use the software package R, students are supposed to
apply code from pre-existing packages and develop new code based on the methodology studied in the
course. Participants should be able to analyze and interpret their program outputs.
5 Examinations
Final grade is the grade of the final exam.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, basic knowledge of regression analysis and analytical statistics is strongly
recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Vasyl Golosnoy RUB Faculty of Management and Economics
Module: Seminar in Econometrics ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Every semester 1 semester 1st to 3rd semester 10 300 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Seminar in Econometrics S 10 300 h
2 Language of instruction
English
3 Contents of the module
The seminar provides a broad spectrum of topics to choose, primarily (but not only!) in the fields of
macroeconomics, financial econometrics and time series econometrics. Participants are supposed to
write a term paper of at most 20 pages and to present it at the end of the semester.
4 Competences
Participants should learn to comprehend, compare and summarize one or multiple sources on a
particular topic, which can either be parts of textbooks or original research articles. They should
rephrase and organize the main aspects of the topic, and, in a possible application, analyze a data set
or discover the properties of a particular statistical or econometric approach, as well as evaluate
their results
5 Examinations
Oral examination. Participation in the oral examination requires that a term paper is submitted until the
due date, and that the submitted term paper would suffice to receive a passing grade.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, at least one graduate course in Econometrics is strongly recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Vasyl Golosnoy RUB Faculty of Management and Economics
Module: Seminar in Applied Economic Policy ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Every semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Applied Economic Policy S 5 150 h
2 Language of instruction
English
3 Contents of the module
After one kick-off meeting at the beginning of the semester, the students should work independently
(and in consultation with their supervisors) on current economic policy topics. They should present the
relevant research in this area and understand the empirical strategies involved in answering policy-
relevant questions. The results of their research should be presented and discussed in a two-day block
seminar, and summarized in a seminar paper, including the discussion results.
4 Competences
The aim of the seminar is to improve the understanding of current economic problems and to provide
insights into the theoretical and empirical analysis of political decisions. Students should learn to
develop concrete research questions independently and to understand and evaluate empirical strategies
for answering politically relevant questions. The seminar is intended to enable students to independently
produce scientific papers and to give them the opportunity to practice their presentation skills.
5 Examinations
The final module examination consists of a term paper. By giving a presentation and participating in the
discussion, bonus points can be awarded, which amount to a maximum of 25% of the maximum total
number of points. A maximum of 75 points can be achieved through the seminar paper, a maximum of
20 bonus points through the presentation and a maximum of 5 bonus points for participation in the
discussion. The module score then results from a scale of points ranging from zero to 100 points. Bonus
points earned have no influence on the examination result if it is "not passed" (5.0) without the bonus
points.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, sound understanding of basic econometrics is strongly recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Dr. h.c. Christoph M. Schmidt RUB Faculty of Management and Economics
Compulsory Elective Courses –TU Dortmund University

Module: Advances in Public Economics and Political Economy

ME5

M.Sc. Programme: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 Semester 2nd to 4th semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Advances in Public Economics and Political L + T 7.5 4
Economy
2 Language of instruction
English
3 Content of the Module
This graduate course brings together the latest research ideas and topics in public eco-nomics and
political economy. The focus is primarily on theoretical work. The course consists of two parts. The first
part covers topics in public economics such as the theory of public goods and the theory of optimal
taxation. The second part addresses political economy issues such as political behavior (of voters,
candidates, legislatures, interest groups, political parties, media) and political distortions (inefficient
redistribution, career concerns, dynamic problems).

4 Competences
Students leave the course understanding how microeconomic theory is applied to critically evaluate
interactions between economic and political agents. The course should prove useful for any student
interested in analyzing policy issues. It will be particularly valuable background for those students
intending to specialize in public economics, political economy and economic policy.

5 Examinations
Written and graded exam covering the entire module (90 minutes) or oral exam (15-30 minutes)
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none - However, the course requires successful participation in microeconomics and game theory
courses.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Galina Zudenkova, Ph.D. TU Dortmund University, Department of Business
and Economics
Module: Applied Economics III
ME5

M.Sc. Programme: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Advanced business cycle analysis L+T 7.5 4
2 Language of instruction
English
3 Content of the Module
The lecture covers current quantitative business cycle theories cast in the form of dynamic stochastic
general equilibrium models. Students will learn about the quantitative implications of modelling decisions
used in state-of-the-art business cycle models, the analytical and numerical solution of models, as well as
their uses for simulation and empirical evaluation of theories.
4 Competences
Students acquire the ability to solve and quantitatively evaluate dynamic stochastic general equilibrium
models. In the exercises, students will practically learn how to use software tools for numerical solution,
simulation, and evaluation of theoretical models. Thus, they will gain the methodological competence to
participate in applied macroeconomic research.
5 Examinations
Written and graded exam covering the entire module (90 minutes).
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Dr. Ludger Linnemann TU Dortmund University, Department of Business
and Economics
Module: Law and Economics
ME5

M.Sc. Programme: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Law and Economics L+T 7.5 4
2 Language of instruction
English
3 Content of the Module
This course provides an introduction to the economic analysis of law, i.e., the application of economic
methods to analysis of legal rules and institutions. It covers the areas of tort law, contract law and criminal
law, property law and the Coase Theorem, intellectual property law, among others. The focus of the
lectures will be primarily on theoretical work. Practice exercises will be assigned during the semester.
4 Competences
Students leave the course understanding how microeconomic theory can be used to critically evaluate
law and public policy. The course should prove useful for any student interested in analyzing policy issues.
It will be particularly valuable background for those students intending to specialize in public economics,
political economy and economic policy.
5 Examinations
Written and graded exam covering the entire module (90 minutes).
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, the course requires successful participation in microeconomics and game theory
courses.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Galina Zudenkova, Ph.D. TU Dortmund University, Department of Business
and Economics
Module: Labor Economics
ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter Semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Labor Economics L+T 7.5 4
2 Language of instruction
English
3 Content of the Module
This is a first comprehensive course in labor economics at the graduate level. Topics include
supply- and demand for labor, wage determination, human capital, technological change,
market power, the role of firms and inequality. There will be a special focus on evidence
accompanying the theory as well as the causal and quantitative empirical methods used in
applied microeconomics more generally.

4 Competences
The course fosters participants’ skills in (i) the economic modeling of labor market relation-
ships; (ii) their knowledge of microeconometric methods; (iii) hands-on data analysis and
communication of empirical results.
5 Examinations
Graded written exam (90 minutes) or oral exam (30 minutes) covering the entire module
(mode will be announced in time).
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
-None-
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Michael Böhm, Ph.D. TU Dortmund University, Department of Business
and Economics
Module: Makroökonomie I (Economic Growth and Historical Development) ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter Semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Economic growth and historical development L+T 7.5 4
2 Language of instruction
English
3 Content of the Module
Why are some countries rich and others are poor? This course provides an understanding
of long-run development and studies the underlying causes of income differences across
countries. The focus of the lectures is the theoretical and conceptual background of prox-
imate and fundamental factors in economic growth and development. In the exercise clas-
ses, empirical articles will be discussed with a focus on causal inference based on histor-
ical data.
4 Competences
Students learn to understand and discuss long-term economic relationships and devel-
opments. They also learn to apply their knowledge of empirical methods to articles that
conduct quantitative analysis, to discuss and to critically assess these. Understanding
past (historical) growth episodes, helps to inform policy on how to achieve economic
growth and sustained development.
5 Examinations
Graded written exam (90 minutes) or oral exam (15-30 minutes) covering the entire module
(mode will be announced in time)
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
-none- Recommended: basic knowledge of macroeconomics and econometrics
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
JProf. Dr. Nina Boberg-Fazlic TU Dortmund University, Department of Business
and Economics
Module: Makroökonomie IV (Macroeconomics)
ME5

M.Sc. Programme: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Dynamic macroeconomics L+T 7.5 4
2 Language of instruction
English
3 Content of the Module
This module presents methods and core applications of modern dynamic macro-economic theory.
Main topics are consumption and savings choices in incomplete markets, pricing of risky and riskless
assets and applications to (optimal) fiscal policy and (search) theory of frictional labor markets.
4 Competences
The module provides tools and main results in modern dynamic macroeconomics on an advanced level
to enable students to conduct their own research in macroeconomics.
5 Examinations
Graded written exam (90 minutes) or oral exam (30 minutes) covering the entire module (mode will be
announced in time).
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Dr. Philip Jung TU Dortmund University, Department of Business
and Economics
Module: Mikroökonomie I (Microeconomics)
ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer Semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Game Theory L+T 7.5 4
2 Language of instruction
English
3 Content of the Module
This course provides an introduction to game theory, i.e., the description of strategic be-
havior in situations in which the own payoff depends on the behavior of others. As such,
game theory can be applied to analyze and understand strategic situation of various kinds,
e.g. in employment situations, R&D, market competition, or market design but also in pol-
itics, sports, or biology.
The primary focus of the course is to provide the theoretical tools to analyze such situa-
tions and enable the advanced study of strategic behavior. In exercises, we will also apply
these methods to stylized strategic mostly business-related situations.
4 Competences
The course enables students to understand the mathematical „language” of game theory
and to apply it to describe complex strategic situations. This enables students to think
through optimal behavior in many types of business situations, but also to understand the
academic literature in fields like applied microeconomics (e.g., industrial organization,
contract theory, mechanism design), public economics (e.g., social insurance, tax sys-
tems), or politics (e.g. voting behavior, theories of conflict).
5 Examinations
Graded written exam (90 minutes) or oral exam (15-30 minutes) covering the entire mod-
ule (mode will be announced in time)
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
-None- Recommended: Basic understanding of economic
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Dr. Lukas Buchheim TU Dortmund University, Department of Business
and Economics
Module: Narrative Economics and the Media
ME5

M.Sc. Programme: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 Semester 2nd to 4th semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Narrative Economics and the Media L+S 7.5 4

2 Language of instruction
English Economy Economy
3 Content of the Module
This seminar focusses on the interplay between markets, economic policy and the public
sphere. The narrative economic approach conceptualizes how shared beliefs influence
collective economic behavior and economic policy. Since the media play an important role
in forming and reinforcing economic narratives, their role is of particular interest. Con-
cepts from communication science, like agenda setting, framing, news values, and jour-
nalistic quality, are applied to economic issues. The lecture part of the module introduces
the students to concepts of narrative economics and public communication. In the semi-
nar part students present their term papers on specific economic policy issues
4 Competences
Students will learn to systematically analyze public discourses on economic and economic
policy issues. As public attention tends to be short-lived, while many economic problems
require structural long-term solutions, they are acquainted with strategies to reconciling
the two, which is at the core of the practical conduct of economic policy.

5 Examinations
Module examination, consisting of a graded written paper, an oral presentation and active
participation (attendance is obligatory).
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
-None- Recommended: bachelor level knowledge of micro and macroeconomics, public fi-
nances, monetary policy, vivid interest in current economic policy issues
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Dr. Henrik Müller TU Dortmund University, Kulturwissenschaften
Module: Seminar Microeconomics
ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter Semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Seminar Microeconomics S 7.5 4
2 Language of instruction
English
3 Content of the Module
This course introduces students to the research areas of the Chair of Microeconomics that
are located at the intersection of (empirical and theoretical) microeconomics and macro-
economics. These topics include, but are not limited to, the theory and empirics of expec-
tation formation as well as the study of regional economic developments.
4 Competences
Students will learn how microeconomic and macroeconomics tools are used jointly to an-
swer business and policy relevant questions regarding how economic agents form expec-
tations or how regional markets evolve.
Students will also learn how to formulate working hypotheses, and evaluate their
strengths and weaknesses. Effective communication of arguments will be one key learn-
ing outcome of the course.
In addition, students will acquire analytical tools to critically evaluate theoretical and em-
pirical work, and to possibly add to the existing work with own analyses that may provide
the foundation for work on a Master’s thesis.
5 Examinations
Module examination, consisting of a graded written paper (counts for 50 % of the grading)
and an oral presentation (counts for 50 % of the grading). Participation is required (i.e.,
compulsory attendance).
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
-none- recommended: knowledge of introductory economics (Microeconomics, Macroe-
conomics, Econometrics) at the Bachelor level
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Dr. Lukas Buchheim TU Dortmund University, Department of Business
and Economics
Module: Soziale Sicherung
ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
As offered 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Soziale Sicherung S 7.5 2
2 Language of instruction
German
3 Content of the Module
The seminar deals with theory underlying social insurance. First, lectures will provide a theoretic foundation
for different kinds of socials insurances. Building on the theory, recent empirical results will also be
discussed. Finally students pick on kind of insurance and critically discuss a recently published paper in
that area.
4 Competences
Students will gain a broad understanding of the economic perspective on social insurance. Students will
gain an in-depth understanding of recent advances in the area the student chooses for her seminar paper.
5 Examinations
Seminar paper of roughly 15 pages.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, knowledge of game theory at bachelor level is strongly recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Dr. Matthias Westphal TU Dortmund University, Department of Business
and Economics
Advanced Topics in Applied Econometrics ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Each semester 1 semester 1st to 3rd semester 4.5 / 3 135h / 90h
1 No. Module Type Credit Credit Hours
Points
1 Machine Learning for Economic Data L+T 4.5 3
2 Programming with Julia L+T 3 2
3 Programming with Python L+T 3 3
4 Programming Course with R L+T 3 3
5 Programming with SAS L+T 3 3
6 Einführungskurs in SQL und APIs L+T 2 2
2 Language of instruction
English or German
3 Contents of the module
Note: more than one of the above courses can be credited.

These modules cover various topics in applied econometrics. In general, more than one lecture is taught
each semester.
4 Competences

5 Examinations
Graded oral exam or graded written exam.
The lecturer may include further requirements necessary to attend the final exam. These requirements
and the form of the examination will be announced at the beginning of the course.

6 Type of Examinations
covering the entire module Relating to individual courses
7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Lecturers from TU Dortmund University, TU Dortmund University, Department of Statistics
Department of Statistics
Module: Advanced R ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credits Time
Summer semester 1 Semester 2nd semester 3 90 h
1 Structure of the module
No. Courses Type Credits Credit Hours
1 Advanced R L+T 3 4
2 Language of instruction
Deutsch / Englisch
3 Contents of the module
Advanced R teaches Rs underlying programming paradigms. In the course data type and structures in R
as well imperative programming, object oriented programming and functional programming in R are
discussed.
4 Competences
Student learn to use R to write programs that are easily readable and utilize all of R’s capabilities optimally.

5 Examinations
2 practical tests during the semester (25% of final grade each) and 1 final written exam (50% of final
grade)

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im Masterstudiengang Econometrics
9 Module Coordinator Responsible Department
Dr. Daniel Horn TU Dortmund University, Department of Statistics
Module: Advanced Text Mining Methods
ME6 & ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
As offered 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 L+T 7.5 4
2 Language of instruction
English
3 Content of the Module
This module deals with complex text mining methods and models which can, for instance, be used to
extract information from economic texts. Using the skills acquired in the lecture "Text as Data", the students
can choose either a more theory- or practice-focused project. Theory-focused projects are centered around
literature review to give the student a deep understanding of the advantages and disadvantages as well
as the use cases of different models. In practice-focused projects, students are given specific task suitable
for text data analysis to solve. The results are presented at the end of the semester and formalized in a
written report.
4 Competences
By the end of this seminar, the students should have a deeper understanding of different versions of
common text mining methods and be able to use them in empirical projects. In addition, the students can
improve their skills required for scientific reports and presentations.
5 Examinations
Reports as well as presentations.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
Basic knowledge about the most common text mining methods (Latent Dirichlet Allocation, Word2Vec) are
expected, but not required if the student is willing to acquire the basics themselves.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Dr. Carsten Jentsch TU Dortmund University, Department of Statistics
Module: Applied Economics II
ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credits Time
Summer semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the module
No. Courses Type Credits Credit Hours
1 Applied Macroeconometrics V+Ü 7.5 4
2 Language of instruction
Deutsch / Englisch
3 Contents of the module
Das Modul befasst sich mit Theorie und Praxis der modernen Makroökonometrie. Behandelt werden
zeitreihenanalytische Methoden, mit denen die dynamischen Zusammenhänge zwischen den wichtigsten
makroökonomischen Indikatoren abgebildet werden können. Ziel ist es, empirisch gestützte Aussagen zu
Ursache-Wirkungszusammen-hängen zu gewinnen, und die Resultate zur Beurteilung der empirischen
Plausibilität von Theorien sowie zur Prognose und der Simulation von wirtschaftspolitischen Eingriffen zu
nutzen.
4 Competences
Das Modul macht den Studierenden die wichtigsten Methoden der angewandten makroökonometrischen
Forschung zugänglich, und befähigt sie so, theoretisch und/oder wirtschaftspolitisch relevante
Fragestellungen anhand von Zeitreihendaten zu bearbeiten, empirische Studien kritisch zu beurteilen und
eigene empirische Projekte selbständig zu bearbeiten. Hierbei wird besonderes Gewicht auf die
Vermittlung der notwendigen methodischen Competences gelegt. Diese werden anhand von
computergestützten Übungen anhand von einschlägigen Softwarewerkzeugen erworben und vertieft.
5 Examinations
Es findet eine benotete Modulprüfung entweder in Form einer Klausurarbeit (Dauer 90 Minuten) oder in
Form einer mündlichen Prüfung (Dauer 20 Minuten) statt. Die Art der Prüfung wird rechtzeitig bekannt
gegeben.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im Masterstudiengang Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Ludger Linnemann TU Dortmund University, Department of Business
and Economics
Module: Deep Learning ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
winter semester 1 semester 1st to 3rd semester 9 270
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Deep Learning L 6 4 SWS
Deep Learning T 3 2 SWS
2 Language of instruction
English
3 Contents of the module The course will lay out a brief history of deep learning and subsequently
introduces the basic structure of neural networks including their mathematical foundation. After discussing
the extension of a single hidden layer network to more complex, deeper feedforward neural networks,
their regularization is discussed and a detailed explanation of the different optimization routines for neural
networks is given. A second larger part of the lecture and exercise courses will introduce convolutional
neural networks (CNNs). This includes properties and components of CNNs as well as different variations
of convolution operations and an overview of modern CNN architectures. A third part of the course
introduces recurrent neural networks (RNNs), their optimization, different architectures and applications
of RNNs. After discussing modern approaches based on the attention mechanism and transformers, we
turn to different types of autoencoders (AE), variational autoencoders, and generative adversarial
networks (GANs) as well as evaluation of generative models.
In addition, the course will introduce practical applications using open-source deep learning libraries.
4 Competences
The students will understand the basic principles and theory of deep learning, their optimization and the
functionality of prominent architectures including CNNs, RNNs, AE, and Generative Models. They are
able to formulate, implement and train appropriate architectures for practical use cases.

5 Examination
Written exam (90 minutes).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Dr. David Rügamer TU Dortmund University, Faculty of Statistics
Module: Econometric Forecasting
ME6 & ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
As offered 1 Semester 1st to 3rd semester 4.5 135 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 L+T 4.5 3
2 Language of instruction
English
3 Content of the Module
This course provides a comprehensive introduction to the forecasting of (economic) time series,
focusing on the theoretical background of applied forecasting. To this end, we study in detail
the linear predictive regression model, including special topics like mixed-frequency data, regressor
persistence, high-dimensional predictors, and also more advanced topics like forecast intervals and
long-horizon forecasts. The final part of the course covers forecast evaluation.
4 Competences
After successfully completing the course, you will understand the fundamental concepts of time
series forecasting, and be able to identify and implement various time series forecasting techniques,
as well as evaluate the performance of forecasting models.
5 Examinations
Graded oral exam.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
Statistical Theory and Time Series Analysis are a must. Econometrics is useful but not a necessary
condition.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Dr. Matei Demetrescu TU Dortmund University, Department of Statistics
Module: Finance I ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit points Time
Summer semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points hours
1 Data and AI in Economics L+T 7.5 4
2 Language of instruction
English
3 Content of the module
This course is designed to introduce students to the intersection of data science, artificial
intelligence (AI), and economics. It aims to equip students with the necessary skills to apply
AI and data analysis techniques to economic problems. The course will cover topics such as
programming for data analysis, machine learning techniques, AI applications in economics,
and ethical considerations in AI and data science.
4 Competences
By the end of this course, students should be able to:
- Understand the role of data and AI in economics and their potential applications.
- Apply programming and computational tools for data analysis in economic contexts.
- Understand and apply machine learning techniques to economic data.
- Understand the ethical implications of using AI and data science in economics.
The practical sessions are conducted using the industry’s programming language (currently python).
5 Examinations
Written and graded exam covering the entire module (90 minutes) or graded presentation based on written
case study’s expose. The mode of the exam will be assigned at the beginning of the course.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, knowledge in the programming language used (eg. Python), acquired e.g. by successful
examination of Finance III (Financial Econometrics), is strongly recommended. Due to limited PC-
capacities you need to register for this course.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Dr. Peter N. Posch TU Dortmund University, Department of Business
and Economics
Module: Finance III
ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit points Time
Winter semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points hours
1 Financial Econometrics L+T 7.5 4
2 Language of instruction
English
3 Content of the module
This lecture applies modern econometric methods to current questions from the field of finance, risk-
management and commodity markets. We will both explore the theoretical dimensions of the models used
as well as apply the methods to real-life datasets.
4 Competences
Students learn the basic and advanced methods of financial econometrics. They apply the methods using
datasets and thereby learn both the application of econometric methods as well as the caveats associated
with real-life data, data gathering and data mining. The use of the industry specific programming language
(currently Python) for econometric analysis is an essential part of this course.
5 Examinations
Written and graded exam covering the entire module (90 minutes) or graded presentation based on written
case study’s expose. The mode of the exam will be assigned at the beginning of the course.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, knowledge in statistical and econometrical methods, prior knowledge in finance, e.g. one
of the modules, is strongly recommended. Due to limited PC-capacities you need to apply for this course.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Dr. Peter N. Posch TU Dortmund University, Department of Business
and Economics
Module: Finance V
ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit points Time
Each semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the module
No. Courses Type Credit Credit
Points hours
1 Research Topics in Finance, Risk- and Resourcemanagement S 7.5 4
2 Language of instruction
English
3 Content of the module
In this course we will discuss current research topics including, but not limited to, the methods applied,
the scope and aim of the research and its impact. We train quantitative analysis with concrete research
questions and real datasets and increase the competency in academic writing and methodology.
4 Competences
Analytical and quantitative competences in the field of finance and risk management are trained. The
seminar prepares students for the master thesis to which the topics can be (generally) extended. Literature
research as well as the current state of the academic discussion in the topic’s area furthermore deepens
the student’s competences in pursuing an academic training on a high level.
5 Examinations
Graded written paper and oral presentation.
6 Type of Examination
covering the entire module Relating to individual courses

7 Requirements
None. However, at least one master module in the area of finance and interest in the research topics in
the field of finance, risk management and resource management or/and an application for writing the
master thesis is strongly recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible department
Prof. Dr. Peter N. Posch TU Dortmund University, Department of Business
and Economics
Module: Wirtschaftspolitik II (Economic Policy)
ME6

M.Sc. Programme: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the Module
No. Courses Type Credit Credit
Points Hours
1 Microeconometrics and Empirical L+T 7.5 4
Applications
2 Language of instruction
English (except German gets unanimous vote)
3 Content of the Module
The lecture covers the econometric analysis of individual data, such as households and firms. Students
learn how to solve frequently occurring problems with using microeconomic data. Among other topics,
panel data, instrumental variables, limited dependent variables and causality models are analyzed. The
accompanying exercise serves the following purposes: students get an introduction to the econometric
program Stata and learn how to apply it in practice. The exercise is supplemented by presentations of
innovative empirical studies applying the presented methods.
4 Competences
On the one hand, this module aims at providing knowledge of the fundamental econometric models
developed for typical problems associated with microeconomic datasets (individuals, households, firms).
Students will gain an understanding of the basic problems associated with different datasets and variables
and will be confronted with solutions in representative research papers. On the other hand, students learn
how to apply these methods in practice. Participants acquire the necessary skills to conduct their own
empirical studies, e.g. for seminar presentations or master thesis.
5 Examinations
Written and graded exam covering the entire module (90 minutes).
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However basic knowledge of empirical economics is advantageous.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Kornelius Kraft TU Dortmund University, Department of Business
and Economics
Module: Wirtschaftspolitik IV
ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credits Time
Jedes Semester 1 Semester 1st to 3rd semester 7.5 225 h
1 Structure of the module
No. Courses Type Credits Credit Hours
1 Empirisches Seminar zur Wirtschaftspolitik S 7.5 4
2 Language of instruction
Deutsch
3 Contents of the module
Das empirische Seminar widmet sich der Vermittlung und konkreten Anwendung empirischer Methoden
im Kontext von aktuellen wirtschaftspolitischen Fragstellungen. Hierfür
werden umfangreiche und repräsentative Datenquellen zur Verfügung gestellt. Die Studierenden werden
an das selbständige empirische Arbeiten herangeführt und aktiv bei
den ökonometrischen Auswertungen unterstützt.
4 Competences
Neben der intensiven Auseinandersetzung mit aktuellen Forschungsergebnissen der
Wirtschaftspolitik, steht hierbei insbesondere die eigenständige empirische Arbeit der
Studierenden im Vordergrund. Dabei soll die Fähigkeit zur selbständigen wissenschaftlichen Bearbeitung
und Präsentation eines Themas vertieft werden. Ein weiteres Ziel ist
dabei eine Einübung in den wissenschaftlichen Diskurs.
5 Examinations
Es findet eine benotete Modulprüfung in Form einer schriftlichen Hausarbeit i.V.m. einem mündlichen
Vortrag statt.

6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
Keine. Empfohlen wird ein abgeschlossenes Ökonometrie-Modul.
8 Status of the Module
Wahlmodul im Masterstudiengang Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Kornelius Kraft TU Dortmund University, Department of Business
and Economics
Seminar in Applied Econometrics Econometrics ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Each semester 1 semester 1st to 3rd semester 4 120h
1 Structure of the module
No. Module Type Credit Credit Hours
Points
1 Bayesian Data Analysis S 4 2
2
2 Language of instruction
English or German
3 Contents of the module
Note: more than one of the above courses can be credited.

In this module each participant works with a scientific paper dealing with current topics of econometric
research. The participants summarize the main content and results of the work in a written report and
illustrate their finding in an oral presentation.
4 Competences
Participants gain practice in the presentation of the statistical results in written and oral form and expand
their methodological skills.

5 Examinations
Written report and oral presentation. Details will be announced at the beginning of the course.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Lecturers from TU Dortmund University, TU Dortmund University, Department of Statistics
Department of Statistics
Advanced Topics in Econometric Methods ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
As offered 1 semester 1st to 3rd semester 9 / 4.5 270 h / 135 h
1 No. Module Type Credit Credit Hours
Points
1 Advanced Bayesian Data Analysis L+T 4.5 3
2 Advanced Econometrics L+T 9 6
3 Advanced Statistical Learning L+T 9 6
4 Applied Bayesian Data Analysis L+T 9 6
5 Bayesian Econometrics L+T 4.5 3
6 Bayes-Statistik L+T 9 6
7 Bootstrap Methods L+T 9 6
8 Econometric Forecasting L+T 4.5 3
9 Econometrics of treatment effects and policy L+T 4.5 3
evaluation
10 Empirical processes L+T 4.5 3
11 Financial Econometrics L+T 4.5 3
12 Generalisierte Lineare Modelle L+T 9 6
13 Multiples Hypothesentesten L+T 4.5 3
14 Panel data analysis l L+T 4.5 3
15 Panel data analysis ll L+T 4,5 3
16 Robuste statistische Verfahren L+T 9 6
17 Robuste statistische Verfahren L+T 4.5 3
18 Sequentielle Verfahren L+T 9 6
19 Statistical Methods for Counting Processes L+T 4,5 3
20 Statistical Network Analysis L+T 4.5 3
21 Statistik extremer Risiken L+T 9 6
22 Stochastische Prozesse L+T 9 6
23 Survival Analysis L+T 9 6
24 Unit Root and Cointegration Analysis L+T 9 6
2 Language of instruction
English or German
3 Contents of the module
Note: more than one of the above courses can be credited.

These modules cover various research topics in modern econometrics. The mathematical background is
extensively discussed using stochastic tools. In general, more than one lecture is taught each semester.
4 Competences
Participants gain deeper knowledge in a specific area of econometric research. They gain insight in the
theoretical background and derivation of econometric procedures and are able to adapt the methods in
accordance to the desired settings. Based on the deeper understanding in a certain research field, the
participants learn to handle and work with unknown procedures efficiently.
5 Examinations
Graded oral exam or graded written exam.
The lecturer may include further requirements necessary to attend the final exam. These requirements
and the form of the examination will be announced at the beginning of the course.

6 Type of Examinations
covering the entire module Relating to individual courses
7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Lecturers from TU Dortmund University, TU Dortmund University, Department of Statistics
Department of Statistics
Seminar in Econometrics ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Each semester 1 semester 1st to 3rd semester 4 120h
1 Structure of the module
No. Module Type Credit Credit Hours
Points
1 Seminar in Econometrics S 4 2
2 Seminar in Zeitreihenökonometrie S 4 2
3 Resampling Verfahren S 4 2
4 Time Series Econometrics S 4 2
2 Language of instruction
English or German
3 Contents of the module
Note: more than one of the above courses can be credited.

In this module each participant works with a scientific paper dealing with current topics of econometric
research. The participants summarize the main content and results of the work in a written report and
illustrate their finding in an oral presentation.
4 Competences
Participants gain practice in the presentation of the statistical results in written and oral form and expand
their methodological skills.

5 Examinations
Written report and oral presentation. Details will be announced at the beginning of the course.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Lecturers from TU Dortmund University, TU Dortmund University, Department of Statistics
Department of Statistics
Module: Maschinelles Lernen
ME7

M.Sc. Program: Econometrics,

Frequency Duration Study section Credits Time
Nach Ankündigung 1 Semester 1. bis 3. Semester 6 180 h
1 Structure of the module
No. Courses Type Credits Credit Hours
1 Maschinelles Lernen V 3 2
2 Übungen zu Maschinelles Lernen Ü 3 2
2 Language of instruction
Deutsch
3 Contents of the module
Das Gebiet des maschinellen Lernens betrifft als Optimierung oder Funktionsapproximation eine Vielzahl
von Aufgaben: Klassifikation und Clustering von Texten, Bildern und Musikstücken, Entdeckung
auffälliger Teilräume in Daten, Analyse von Zeitreihen, Vorhersage von Beobachtungen,
zusammenfassende Beschreibung von Messdaten... Grundlage ist die empirische und strukturelle
Risikominimierung, aber auch logische Theorien (Stichwort: Induktion) können genutzt werden. Die
Lernbarkeit von Konzepten wird in Bezug auf die Beispiele, die Repräsentationsklasse der Hypothesen
und die erlaubten Operatoren untersucht. Neue Arbeiten berücksichtigen das Lernen aus verteilten
Datensammlungen und aus Datenströmen unter Beschränkung des Speicherplatzes. Die Studierenden
sollen an die in der Forschung diskutierten Fragestellungen herangeführt werden.
4 Competences
Die Studierenden lernen die grundlegenden Algorithmen des maschinellen Lernens so kennen, dass sie
sie selbst implementieren können. Dadurch verstehen sie die in der aktuellen Literatur diskutierten
alternativen Ansätze mit ihren Vor- und Nachteilen. In der Verbindung von Vorlesung und Übungen
werden die (theoretischen) Eigenschaften der Algorithmen und ihre (praktischen) Auswirkungen deutlich,
so dass die Studierenden dann eigenständig praktische Anwendungen von bekannten Lernverfahren in
unterschiedlichen Feldern durchführen können.
5 Examinations
mündliche Prüfung (30 Minuten)
Studienleistungen: -keine-

6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im Masterstudiengang Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. K. Morik TU Dortmund University, Fakultät Informatik
Module: Wissensentdeckung in Datenbanken
ME7

M.Sc. Program: Econometrics,

Frequency Duration Study section Credits Time
jährlich 1 Semester 1.-2. semester 8 240 h
1 Structure of the module
No. Courses Type Credits Credit Hours
1 Wissensentdeckung in Datenbanken V 6 4
2 Übungen zu Wissensentdeckung in Ü 2 2
Datenbanken
2 Language of instruction
Deutsch
3 Contents of the module
Wissensentdeckung in Datenbanken liegt im Schnittbereich von Datenbanken, Maschinellem Lernen und
Statistik. Es geht darum, in sehr großen Datenbeständen Muster zu finden, die gemäß einem
Qualitätsmaßes bewertet werden. Je nach den Vorgaben der Benutzer und dem Qualitätsmaß
unterscheidet man die Lernaufgaben
• Klassifikation • Clustering
• Subgruppenentdeckung • Finden häufiger Mengen und Assoziationsregeln
Ausgehend von gegebenen Daten müssen in einer Folge von Vorverarbeitungsschritten die Daten für die
Lösung der Lernaufgabe erstellt werden, wobei unterschiedliche Algorithmen zum Einsatz kommen.
Dabei werden verschiedene Arten von Daten vorgestellt, z.B. binäre Datenbanken, Zeitreihen,
zeitgestempelte Daten. Die formale Charakterisierung der Lernaufgabe und des Verfahrens muss
algorithmisch so umgesetzt werden, dass sehr große Datenmassen schnell durchsucht werden, wodurch
sich Approximationen an die gewünschte Lösung und heuristische Verkürzungen ergeben. In der
Vorlesung werden für jede Lernaufgabe einige Algorithmen vorgestellt. Vorverarbeitungsketten werden
exemplarisch anhand einiger realer Anwendungen diskutiert.
4 Competences
Auf der Grundlage statistischer Theorie und algorithmischer Umsetzungen sollen die Studierenden
selbständig Anwendungen der Wissensentdeckung entwickeln und Zugang zu den Forschungsthemen
haben können.

5 Examinations
mündliche Prüfung (30 Minuten) oder Klausur (120 Minuten)
Studienleistungen sind außerdem die aktive Mitarbeit in den Übungen und erfolgreiche Bearbeitung der
Übungsblätter. Die Studienleistung ist Voraussetzung zur Teilnahme an der Modulprüfung.
6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
- keine -
Vorausgesetzte Kenntnisse: Grundkenntnisse der Stochastik
8 Status of the Module
Wahlmodul im Masterstudiengang Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. K. Morik TU Dortmund University, Fakultät Informatik
Compulsory Elective Courses – University of Duisburg-Essen

Module: Advanced Forecasting in Energy Markets ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Advanced Forecasting in Energy Markets S 6 2
2 Language of instruction
English
3 Contents of the module
The purpose of this seminar is to provide an advanced understanding of modeling and forecasting
methods in energy markets, esp. concerning probabilistic forecasting. The students apply sophisticated
forecasting methods to real data (e.g. electricity or natural gas prices, electricity load, wind and solar
power production) using the statistical Software R. They write a report and present their findings.
The focus of the seminar is placed especially on probabilistic forecasting with different applications in
e.g. electricity price and electricity load or wind and solar power production forecasting. A particular
attention is given to regression-based modeling methods for electricity market data.
4 Competences
The students
- have an advanced understanding of forecasting concepts and techniques applied in energy
markets
- will use statistical software R to fit estimation and forecasting algorithms to real world data
- can visualize and interpret obtained results
5 Examinations
Weighted average of a group R-project and a presentation (usually about 20 minutes).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Jun-Prof. Dr. Florian Ziel University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Advanced Industrial Organization ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 2nd semester 6 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Advanced Industrial Organization L+T 5 150 h
2 Language of instruction
English
3 Contents of the module
Fundamentals:
- Objects of Interest: Consumers, Firms, Markets
- Basic forms of competition: Perfect competition, Monopoly
Oligopoly Theory
- Static Models with Homogeneous Goods: Quantity Competition, Price Competition
- Product Differentiation: Horizontal Differentiation, Vertical Differentiation, Differentiation with Linear
Demand
Advanced topics
- Innovation and R&D
- Two-sided Platforms
4 Competences
Nach erfolgreicher Beendigung dieser Veranstaltung sind die Studierenden in der Lage
- oligopolistischen Wettbewerb auf den Märkten zu analysieren
- zwischen verschiedenen Formen des Wettbewerbs zu unterscheiden
- fortgeschrittene Konzepte und Modelle der Industrieökonomik zu verstehen
- diese Kenntnisse auf realistischere Sachverhalte, wie z. B. Wettbewerbspolitik, anzuwenden

5 Examinations
Written 60-minute exam

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Eugen Kovac, Ph.D. University of Duisburg-Essen, Mercator School of
Management, Campus Duisburg
Module: Electricity, Renewables and District Heating
ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
winter semester 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Electricity, Renewables and District Heating L 3 2 SWS
1b Electricity, Renewables and District Heating T 3 2 SWS
2 Language of instruction
English
3 1. Contents of the module
Subject and fundamental problems, research approaches including their meaning
2. Management of power generation incl. renewables: Power plants as an essential resource,
power plant scheduling, supply and sales markets, portfolio management for power generation
3. Management of power transmission and distribution: Power-flow analysis, grid structure and
operation, reserves, congestion management, grid usage – contract and billing principles,
balancing, measurement and billing
4. Perspectives for future electricity systems: power plant investment and long-term equilibria in
power markets, consequences of increased electricity generation from renewable energies,
congestion management and grid expansion, smart metering, prosumers
5. Management of electricity supply and sales: key market segments, products and prices
6. Management of district heat generation and distribution: Technical aspects, real world example,
Management of cogeneration plants, operation, maintenance and expansion of district heat
grids
4 Competences
Students taking the course will
- be able to apply their knowledge of theory and methodology in exercises
- get familiar with modern concepts and methods for management in energy economics
- acquire an understanding of procedures for operational and strategic decision support in areas
of electricity, district heating and renewable energy sectors
- deepen theory and methodology with case studies and numerical examples
5 Examination
Written exam (generally 60-90 minutes).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Christoph Weber University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Empirie der internationalen Geld- und Finanzmärkte ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Empirie der internationalen Geld- und L 3 2 SWS
Finanzmärkte
1b Empirie der internationalen Geld- und T 3 2 SWS
Finanzmärkte
2 Language of instruction
English
3 Contents of the module
Die Veranstaltungen bieten neben einer detaillierten Analyse der grundlegenden Fragestellungen der
monetären Ökonomik einen Überblick über die neueren theoretischen, politischen und empirischen
Entwicklungen der wissenschaftlichen Forschung im Bereich von Geld und Währung. Im Hinblick auf
die fortschreitende Globalisierung wird eine internationale Perspektive gewählt.

4 Competences
Die Studierenden
- verstehen die Inhalte der monetären Ökonomik auf dem aktuellen wissenschaftlichen Niveau
- sind in der Lage, die Methodik in eigenständigen empirischen Arbeiten, zum Beispiel im Rahmen
einer Masterarbeit, anzuwenden
- sind durch die enge Verzahnung von Theorie und Praxis auf eine Vielzahl von Anforderungen der
beruflichen Praxis vorbereitet
- sind durch die praktischen Übungen am PC auf eine Vielzahl von Anforderungen der beruflichen
und wissenschaftlichen Praxis vorbereitet
- sind in der Lage, selbstständig wissenschaftliche Fragestellungen zu erörtern und zu lösen
5 Examinations
Zum Modul erfolgt eine modulbezogene Prüfung, die sich auf folgende Prüfungsform erstreckt:
Entweder Klausur (in der Regel: 60-90 Minuten) oder eine mündliche Prüfung (in der Regel 20-40
Minuten).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Volker Clausen University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Energy Markets and Price Formation ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Energy Markets and Price Formation L 3 2
1b Energy Markets and Price Formation T 3 2
2 Language of instruction
English
3 Contents of the module
1. Energy markets classified according to energy sources and customer segments
2. Products in energy trading: spot market, forwards, futures, options, real options
3. Pricing in wholesale markets I: Fundamental analytic models, problem formulations and solving
as computer models
4. Pricing in wholesale markets II: Financial and econometric models, i.a. Wiener process, mean-
reversion process, GARCH–model formulation and implementation
5. Organization of energy trading in companies: organizational structure, IT-Support
6. Valuating options: analytical methods (Black-Scholes, Black, Margrabe), numerical methods
(Monte-Carlo-Simulation), tree-building methods
7. Risk management in energy trading: legal basis, risk management system, risk classification,
risk measurement – Greeks, Value-at-Risk, Profit-at-Risk
8. Emissions trading: legal and economic foundation, design and trading strategies
9. Perspectives of energy trading and future methodological developments
4 Competences
Students taking the course will
- gain knowledge of products in energy trading
- learn modern concepts and methods of analyzing the pricing on energy markets
- learn how to describe and use procedures of fundamental and mathematical-econometric
market analyses
5 Examinations
Written exam (generally 60-90 minutes) or oral exam (generally 20-40 minutes). The chosen
examination method (written or oral exam) is defined during the first weeks of the lecture period.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, good knowledge in the field of investment and financing as well as general business
administration is required. Knowledge of statistics and operations research would be an advantage.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Christoph Weber University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Entscheidungstheorie ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Wintersemester 1 Semester 1.bis 3. Semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Entscheidungstheorie V 3 2
1b Entscheidungstheorie Ü 3 2
2 Language of instruction
Deutsch
3 Contents of the module
Vermittlung von Kenntnissen in der Methodik der Entscheidungsfindung. Dabei wird zunächst auf Ein-
Personen Entscheidungen unter Berücksichtigung von Informationsunvollkommenheit und Risiko
eingegangen. Diese Analyse wird anschließend auf strategische Entscheidungen erweitert und auf
aktuelle Beispiele angewandt. Es werden folgende Lehrinhalte abgedeckt: Einführung in die
Entscheidungstheorie, Information und Entscheidung unter Unsicherheit, Theorie strategischer
Entscheidung, Anwendungen Bayesianischer Spiele sowie Anreizstrukturen: Mechanism Design.

4 Competences
Die Studierenden
- sind in der Lage, die in aktuellen wissenschaftlichen Publikationen verwendete Methodik der
Entscheidungsfindung und Interaktion kritisch nachzuvollziehen
- können die Methodik der Entscheidungstheorie und der Spieltheorie anhand einfacher
Fragestellungen selbständig anwenden
- können die relevanten Aspekte identifizieren und diese nachvollziehbar darstellen
- sind in der Lage, die zugehörige Literatur zu identifizieren und selbständig kritisch die
wesentlichen Aspekte verstehen und anwenden
5 Examinations
Zum Modul erfolgt eine modulbezogene Prüfung in der Gestalt einer Klausur (in der Regel: 60-90
Minuten)

6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Erwin Amann University of Duisburg-Essen,
Department of Business Administration and
Economics
Module: International Capital Movements: Theory and Econometric Evidence ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a International Capital Movements: Theory L 3 2
and Econometric Evidence
1b International Capital Movements: Theory T 3 2
and Econometric Evidence
2 Language of instruction
English
3 Contents of the module
The course provides advanced knowledge of new theoretical and empirical research in the field of
international capital movements. This includes the analysis of the determinants of international capital
movements, the analysis of the determining reasons of exchange rate
movements as well as the analysis of the functionality of international financial markets. Furthermore,
various explanatory approaches for international currency and financial crises are going to be presented
and assessed.
4 Competences
Students
- understand the conceptual basics of international capital movements
- are able to present current models of international capital movements formally, graphically, and
are also able to interpret them verbally
- are in a position to transfer the obtained knowledge and skills to other subjects
5 Examinations
The module-related examination is performed by a written test (usually 60-90 minutes).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Volker Clausen University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Labour Economics and Public Policy ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Labour Economics and Public Policy L 6 180 h
2 Language of instruction
English
3 Contents of the module
Labor markets are of great importance for the development of modern economies. Labor market policy
measures are often at the center of political and public debate. This lecture provides an insight into labor
market economics and the effects of labor market policy measures. The most important theoretical and
empirical concepts of labor market economists are explained. In addition, recent empirical findings are
discussed and linked to the current political debate.
4 Competences
The students
• learn the most important theoretical and empirical concepts of labor economics,
• know the current state of research in the field of labor economics,
• are able to analyze different aspects of labor market economic measures and to interpret and
critically question scientific findings in this area.
5 Examinations
The module is examined in the form of a written exam (usually 60-90 minutes) or an oral exam (usually
20-40 minutes). The concrete form of the examination is determined by the lecturer after the first
session.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Jun.-Prof. Dr. Sebastian Otten University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Migration Economics ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Migration Economics L 6 180 h
2 Language of instruction
English
3 Contents of the module
Migration is one of the most important topics in the political and public debate. The lecture gives an
insight into the economic aspects of migration. The most important theoretical and empirical concepts of
migration research will be explained, and recent empirical findings will be discussed and linked to the
current debate on migration.
4 Competences
The students
• learn the most important theoretical and empirical concepts of migration economics,
• know the current state of research in the field of migration economics,
• are able to analyze various aspects of immigration and integration from an economic
perspective and to interpret and critically question scientific findings in this area.
5 Examinations
The module is examined in the form of a written exam (usually 60-90 minutes) or an oral exam (usually
20-40 minutes). The concrete form of the examination is determined by the lecturer after the first
session.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, advanced knowledge in microeconomics and microeconometrics is strongly
recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Jun.-Prof. Dr. Sebastian Otten University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Neuere Entwicklungen der Mikroökonomik ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Jedes Semester 1 Semester 1. bis 3. Semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Neuere Entwicklungen der Mikroökonomik Kolloquium 6 2
2 Language of instruction
Deutsch/English
3 Contents of the module
Analyse aktueller wissenschaftlicher Texte aus dem Bereich Mikroökonomik. Lehrinhalte sind Bayesian
Games, Mechanism Design, Implementation Theory sowie Informationally Decentralized Systems.

4 Competences
Die Studierenden
- können aktuelle wissenschaftliche Texte aus dem Bereich der mikroökonomischen Theorie
insbesondere der Spieltheorie lesen, hinterfragen und die zentralen Erkenntnisse
nachvollziehbar präsentieren
- sind in der Lage, diese Erkenntnisse und Methoden auf neue selbst identifizierte
Fragestellungen eigenständig zu übertragen
5 Examinations
Zum Modul erfolgt eine modulbezogene Prüfung, die sich auf folgende Prüfungsformen erstreckt:
vorlesungsbegleitendes Erstellen von drei wissenschaftlichen Essays (Umfang in der Regel je 2 bis 3
Seiten) zu den jeweiligen Themen, Präsentation und Diskussion.

6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Erwin Amann University of Duisburg-Essen (Essen),
Department of Business Administration and
Economics
Module: Selected Topics in Empirical Capital Market Research ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Selected Topics in Empirical Capital Market S 6 180 h
Research
2 Language of instruction
English
3 Contents of the module
Selected topics in empirical capital market research. The module provides students with the knowledge
and skills to independently and critically analyze a practically and scientifically relevant subfield of
empirical capital market research based on an in-depth literature review as well as an accompanying
presentation
4 Competences
The students
• meet the formalities of a scientific paper
• independently collect, systemize, compare, and review the state-of-the-art academic literature
• acquire a profound understanding of a specific subfield of empirical capital market research
• can evaluate scientific studies accurately, understand the methodology used in leading papers
of the field, can interpret estimation results correctly
• are able to critically reflect on limitations of existing research
• are in a position to identify starting points for their own research
5 Examinations
The module is examined in a module-related examination which covers the following forms of
examination: Writing a seminar paper (15 pages, 75% of the grade) and presentation and discussion of
the paper in a plenary session (20 minutes, 25% of the grade). Both parts must be passed to pass the
seminar.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Heiko Jacobs University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Seminar Health and Development ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Fachseminar Health and Development S 6 180 h
2 Language of instruction
English
3 Contents of the module
The seminar covers the following topics, among others:
• Education and schooling experiments
• Environmental/Infrastructural Determinants of Health
• Income and microfinance
• Information and changes in health behavior
• Early childhood interventions
• Impact of Health on Individual Productivity
• Demand for Health Products and Healthcare
• Supply of Health Care
The concrete topics will be announced in the first session.
4 Competences
The students
• are able to write their own scientific work in the field of health economics in the context of
developing countries
• are able to discuss and solve their own as well as external questions in plenary sessions
5 Examinations
The module is examined in a module-related examination which covers the following forms of
examination: Writing a seminar paper (15 pages, 70% of the grade) and presentation and discussion of
the paper in a plenary session (30 minutes, 30% of the grade). Both parts must be passed to pass the
seminar.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Jun.-Prof. Dr. Daniel Kühnle University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Seminar Labour Economics and Public Policy ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Fachseminar Labour Economics and Public S 6 180 h
Policy
2 Language of instruction
German or English
3 Contents of the module
In this seminar, students work on a current issue from the field of labour market economics and write a
seminar paper in which the topic is presented and classified in the literature, the methodological
approach is explained and conclusions are critically evaluated. The seminar papers are presented and
discussed in a block seminar.
4 Competences
The students
• know the current state of research in the field of the respective topic
• can understand and critically evaluate scientific studies
• deepen their knowledge in independent scientific work,
• are prepared for the requirements of a master thesis,
• improve their presentation and communication skills,
• are able to discuss and solve their own as well as external questions in plenary sessions.
5 Examinations
A module-related examination takes place for the module, which covers the following forms of
examination: seminar paper (usually: 15 pages, 70% of the grade) and presentation and discussion of
the paper in plenary (usually: 30 minutes, 30% of the grade). To pass the seminar both parts must be
passed.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Jun.-Prof. Dr. Sebastian Otten University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Seminar Soziale Sicherung und Besteuerung: Empirische Studien und eigene ME5
Projekte
M.Sc. Program: Econometrics
Frequency Duration Study section Credit Points Time
Wintersemester 1 Semester 1. bis 3. Semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Fachseminar Soziale Sicherung und S 6 4
Besteuerung: Empirische Studien und eigene
Projekte
2 Language of instruction
Deutsch
3 Contents of the module
Das Abfassen der Projekt- oder Seminararbeit steht im Zentrum dieser Veranstaltung. Die Teilnehmer
sind dazu aufgefordert, eigene Forschungsthemen zu entwickeln und diese dann in Kooperation mit
dem Dozenten zu konkretisieren. Dabei umfasst das Spektrum möglicher Forschungsgegenstände den
gesamten Bereich der sozialen Sicherung (z.B. Renten- und Gesundheitspolitik) und darüber hinaus
weitere Themen wie zum Beispiel die Bildungspolitik. Während der Bearbeitungsphase durchlaufen die
Studierenden sämtliche Phasen der empirischen Arbeit (Literaturrecherche und –auswertung,
Datenaufbereitung und Schätzung sowie Dokumentation der Forschungsergebnisse) und werden dabei
durch den Dozenten betreut. Durch die Präsentationen der eigenen Forschungsarbeiten erhalten die
Teilnehmer auch einen Einblick in die Studien der jeweils anderen Studierenden. Falls notwendig
werden ergänzende Methodenvorlesungen mit variablen Themen gelesen.
4 Competences
Die Studierenden
- können sich kritisch mit empirischen Studien aus dem Bereich der sozialen Sicherung und
Besteuerung auseinandersetzen und diese bewerten
- können sich auf der Grundlage von bereits vorhandenen empirischen Studien das methodische
Vorgehen erarbeiten und dieses in eigene Projektvorschläge umsetzen
- können Mikrodatensätze für empirische Analysen mit Stata aufbereiten
- können ökonometrische Methoden mit Stata eigenständig anwenden
- können kritische Aspekte von empirischen Studien identifizieren und hieraus
Verbesserungsvorschläge oder eigene Forschungsvorhaben entwickeln
5 Examinations
Zum Modul erfolgt eine modulbezogene Prüfung, die sich auf folgende Prüfungsformen erstreckt:
Hausarbeit (20-30 Seiten) und Präsentation (in der Regel: 10 Minuten). Benotung: 50% schriftliche
Hausarbeit, 40% Präsentation der Arbeit, 10% Diskussion im Plenum.
6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Kristina Strohmaier University of Duisburg-Essen (Essen),
Department of Business Administration and
Economics
Module: Stock Market Anomalies and Quantitative Trading Strategies ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Stock Market Anomalies and Quantitative L+S 6 4
Trading Strategies
2 Language of instruction
English
3 Contents of the module
The lecture gives an introduction to the field of equity market anomalies. It provides an overview over
well-known as well as and recently discovered cross-sectional quantitative anomalies and discusses
from both a theoretical and an empirical point of view why these return patterns might arise and persist.
It also discusses to which extent these anomalies may be translated into effective investment strategies
and explains potential pitfalls when evaluating trading strategies.
In the second half of the semester, students make use of their newly acquired knowledge by writing and
presenting a seminar paper in which they critically evaluate specific trading strategies/market
anomalies. Students can decide whether their paper is based mainly on a synthesis of the literature or
based mainly on programming, backtesting, and critically discussing a self-proposed trading strategy
(for instance via the online platform “Quantopian”).
4 Competences
Students
- have a profound understanding of the most important stock market anomalies
- are able to critically reflect to what extent the anomalies can be translated into real-life trading
strategies
- know the key insights of theoretical, experimental, and empirical research aiming at explaining
the anomalies
- have a profound understanding of the link between individual behavior in financial markets,
market frictions, and resulting return patterns
- can evaluate scientific studies accurately, understand the methodology used in leading papers
of the field, can interpret estimation results correctly, and analyze them critically
- can identify starting points for their own research and to present and defend their research
proposals in a professional way
5 Examinations
seminar paper (usually 15 pages, 65% of the grade), an accompanying presentation (usually 15
minutes, 25% of the grade), active participation in the discussions of other presentations (10%).
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Heiko Jacobs University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Advanced R for Econometricians ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Advanced R for Econometricians L+T 6 4
2 Language of instruction
English
3 Contents of the module
The first part of the course covers intermediate concepts in functional and object orientated
programming, error handling, profiling and benchmarking as well as a treatment of selected R packages
tailored for big data applications. Students are also introduced to reporting with dynamic documents.
Part II deals with the tidyverse, a collection of packages designed for modern applications in data
science. The third part introduces topics such as multi-core computing, C++ integration and other
cutting-edge R extensions.
4 Competences
Students
- are prepared for applications in future studies and are able to efficiently tackle research-related
programming tasks.
- know the strengths and limitations of the high-level statistical programming language R.
- thoroughly understand the R ecosystem and have a profound understanding in selected fields of
advanced R programming.
- can apply their skills in advanced statistical and econometric applications
- are able to document and communicate scientific results in a reproducible manner.
5 Examinations
Weighted average of a (group) R-project (70%) and a presentation (30%, usually about 20 minutes).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Christoph Hanck University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Structuring and Valuation ME5

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Structuring and Valuation L+T 6 4
2 Language of instruction
English
3 Contents of the module
The course covers the following topics, among others:
• Spot and forward price modeling in energy markets
• Valuation of Derivatives
• Risk positions and risk measures
• Modeling volatility and correlation in cross-commodity positions
• Analysis and discussion of emission markets

The concrete topics will be announced in the first session.

4 Competences
Students
- analyze current problems in the field of energy trading.

- understand complex quantitative techniques and apply them to analyze the structures of
financial contracts and physical assets frequently used in energy markets.
- are able to evaluate the risk attended by such contracts and to explain it to non-experts.
- are able to critically discuss and interpret model results as well as to extend models
- are able to implement the introduced models in a common programming language (e.g. Python)

5 Examinations
Written exam (generally 60-90 minutes).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Rüdiger Kiesel University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Applied Labour Economics ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Applied Labour Economics L 6 180 h
2 Language of instruction
English
3 Contents of the module
Using given data sets, econometric methods of analysis are applied to current issues in labor market
economics and independently empirically investigated. A detailed outline will be provided in the first
lecture. Selected topics include:
• Gender wage gap
• Returns to education
• Labour supply of married women
• Effects of a job training program
• Unemployment benefits and job quality
• Welfare effects of unemployment benefits
4 Competences
The student
• learn to competently interpret, evaluate and question labor market studies
• understand to apply quantitative methods in a differentiated way, to form hypotheses and to test
them empirically.
• will be able to develop research designs, conduct econometric analyses and process the results
of these analyses by working independently on a PC.
• also know how to present the findings of other people's or their own empirical work concisely,
evaluate them critically and communicate them to the (specialist) public.
5 Examinations
The module is examined in the form of a term paper (usually: 15 pages) or a term paper (usually: 15
pages, 70% of the grade) and a presentation (usually: 30 minutes, 30% of the grade). The concrete
form of the examination is determined by the lecturer after the first session.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, basic knowledge in microeconomics and microeconometrics is strongly recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Jun.-Prof. Dr. Daniel Kühnle University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Econometrics of Electricity Markets ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Econometrics of Electricity Markets L 3 2
1b Econometrics of Electricity Markets T 3 2
2 Language of instruction
English
3 Contents of the module
The objective of the lecture is to provide a basic understanding of electricity markets and regression
based modeling methods for electricity prices. The aim of this course is to apply estimation and
forecasting algorithms to real data using the statistical Software R, to interpret and to visualize the
results. The lecture covers the following subjects: introduction to electricity markets, an overview of
different model approaches, regression based modeling methods for electricity prices, forecasting and
evaluation techniques and advanced estimation and modeling approaches.
In the tutorials, the students apply the learned methods in an own real data project.
4 Competences
The students
- have an advanced understanding of electricity markets • understand regression based modeling
methods for electricity prices
- can apply estimation and forecasting algorithms to real data using the statistical Software R
- are able to interpret and to visualize the results
5 Examinations
Equally weighted average of a group R-project and a presentation (usually about 20 minutes).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Jun-Prof. Dr. Florian Ziel University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Empirische Bilanzanalyse ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Unregelmäßig zum 1 Semester 2. Semester 6 180h
Sommersemester
(im Wechsel mit
„Stichprobentheorie“)
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Empirische Bilanzanalyse V 3 2
1b Empirische Bilanzanalyse Ü 3 2
2 Language of instruction
Deutsch
3 Contents of the module
Im Rahmen der Veranstaltung werden für das empirische Arbeiten mit umfangreichen
Unternehmensbilanzdatensätzen besonders relevante statistische Methoden behandelt. Ausgewählte
Fragen (Möglichkeiten der Insolvenzprognose, Determinanten der Investitionstätigkeit, Ausmaß der
Finanzialisierung, etc.) werden unter Verwendung der dargestellten Methoden empirisch untersucht. Zu
diesen Methoden gehören Regressionsansätze wie statische und dynamische Panelmodelle und Logit-
/Probit-Regression, Entscheidungsbäume und Zufallswälder. Es erfolgt eine Anwendung der Methoden
auf Unternehmensbilanzdaten zur vertieften Diskussion ökonomischer Fragestellungen.
4 Competences
Die Studierenden
- kennen ausgewählte empirische Methoden
- beherrschen den Umgang mit Unternehmensbilanzdaten
- entwickeln eigenständig Strategien, um inhaltliche Fragen empirisch zu untersuchen
- wenden ausgewählte empirische Methoden mit geeigneter Software eigenständig auf
Unternehmensbilanzdaten an
5 Examinations
Zum Modul erfolgt eine modulbezogene Prüfung in der Gestalt einer empirischen Auswertung am PC
(Prüfung vor Ort, in der Regel: 90-120 Minuten).

6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Andreas Behr University of Duisburg-Essen (Essen),
Department of Business Administration and
Economics
Module: Empirical Finance ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 5 150 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Empirical Finance L 5 2
2 Language of instruction
English or German
3 Contents of the module
This course contains the theoretical background of current financial issues, the application of
econometric methods to finance-related research questions, as well as the discussion of current
empirical publications dealing with finance-related topics based on an inverted classroom approach.
4 Competences
The objectives of the course are to strengthen skills in basic and advanced econometric methods and
the application of econometric methods to concrete research questions in finance, the ability to discuss
current topics in the field of finance, the preparation of students for empirical master theses, and the
critical discussion of empirical research papers.
5 Examinations
Written or oral exam. The mode of the exam will be assigned at the beginning of the course.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None. However, knowledge of statistical and econometric methods is strongly recommended.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Martin Hibbeln University of Duisburg-Essen, Mercator School of
Management, Campus Duisburg
Module: Empirische Methoden ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Wintersemester 1 Semester 1. bis 3. Semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Vorlesung: Empirische Methoden V 3 2
1b Übung: Empirische Methoden Ü 3 2
2 Language of instruction
Deutsch
3 Contents of the module
Im Rahmen der Vorlesung werden für das empirische Arbeiten mit umfangreichen Datensätzen
besonders relevante statistische Methoden behandelt. Hierbei stehen Methoden für den Umgang mit
Paneldaten und Methoden zur Abschätzung von Treatment Effekten im Vordergrund, insbesondere
Verfahren zur Analyse von Verweildauerdaten und Methoden der statistischen Kausalanalyse.
Die Übung befasst sich mit Anwendungen dieser Methoden mit Hilfe der statistischen Software R.
4 Competences
Die Studierenden
- kennen ausgewählte empirische Methoden
- beherrschen den Umgang mit Daten, die Grundlage empirischer Analysen sind
- wenden ausgewählte empirische Methoden mit geeigneter Software eigenständig an
5 Examinations
Zum Modul erfolgte eine modulbezogene Prüfung in Form einer Präsentation (i.d.R. 10 - 20 Minuten, 50
% der Note) und einer Hausarbeit (10 - 20 Seiten, 50 % der Note) zu einer eigenständigen empirischen
Analyse.

6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Andreas Behr University of Duisburg-Essen (Essen),
Department of Business Administration and
Economics
Module: Financial Mathematics ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Financial Mathematics L 3 2
1b Financial Mathematics T 3 2
2 Language of instruction
English
3 Contents of the module
Discussion of essential mathematical valuation principles and techniques both in time-discrete and time-
continuous models. Introduction and implementation of probabilistic and statistical methods. Analysis of
stock, interest and commodity markets and also of the most common assets and derivatives in these
markets. This includes mathematical models for price processes in stock, interest, and commodity
markets, arbitrage theory and hedging strategies, stochastic models for financial markets: martingales
and fundamental theorems in asset pricing, valuation and hedging of derivatives: European, American
and exotic options, as well as incomplete markets and stochastic volatility.
4 Competences
Students
- know the most important mathematical modelling techniques of financial markets and can apply
them to real word problems
- are able to value simple derivative assets and can apply the main principles of risk
management
- are able to solve basic risk management tasks arising in financial institutions and the energy
industry

5 Examinations
Written exam (generally 90 minutes).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Rüdiger Kiesel University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Financial Risk Management ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Financial Risk Management L 3 2
1b Financial Risk Management T 3 2
2 Language of instruction
English
3 Contents of the module
Regulation: Basel II/III, Solvency II
Risk Categories
Risk Measurements
Valuation of Options, "Greeks"
Hedging Strategies
4 Competences
At the end of this course, Students will be able to demonstrate that they can
• understand the core principles of quantitative risk management.
• understand mathematical and statistical techniques used in risk management.
• use Monte-Carlo methods for risk measure calculations.
• apply the theoretical principles discussed in class to real-world problems.
• apply the knowledge gained to current problems in academic research.
• discuss issues in the field of risk and bank management both in German and English.
• communicate and debate topics of the lecture in a structured and professional way.

5 Examinations
Written exam (generally 60–90 minutes).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Rüdiger Kiesel University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Inequality in Health ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Inequality in Health L+T 6 4
2 Language of instruction
English
3 Contents of the module
The students gain a sound knowledge of the theory and empirical contributions in the area of inequality
in health. Topics discussed include, measurement, decomposition and quantitative analysis of
inequality, the relationship between poverty and health / income inequality and health and the
emergence of a social gradient in health as well as distributive justice and health.
4 Competences
Students taking this course will
- get familiar with quantitative measurement and decomposition methods for health and income
inequality
- learn how health is related to socioeconomic status, poverty, economic development,
demographic transition, income inequality and equity
- deepen their theoretical and empirical knowledge of health economics
- acquire a broad understanding of the importance of health-related factors for economy and
society
5 Examinations
Final written exam on the teaching materials covered in lectures and tutorials (usually 60-90 min.).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Martin Karlsson University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Mikroökonometrie ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Sommersemester 1 Semester 2. Semester 6 180h
1 Structure of the module
No. Courses Typ Credit Credit Hours
Points
1a Mikroökonometrie V 3 2
1b Mikroökonometrie Ü 3 2
2 Language of instruction
Englisch
3 Contents of the module
Einführung in nichtlineare mikroökonometrische Modelle und Schätzverfahren. Insbesondere werden
behandelt:
- Fragestellungen der empirischen Analyse
- Datengrundlagen und Auswertungsmethoden
- Deskriptive und kausale Analyse
- Das Paradigma der experimentellen Analyse und die Probleme nicht-experimenteller Daten in
den Sozialwissenschaften
- Das Problem der Kausalanalyse am Beispiel der Evaluation wirtschafts- und sozialpolitischer
Maßnahmen
- Regressionsmodelle als Spezialfälle statistischer Modelle
- Spezielle mikroökonometrische Verfahren und Modelle (lineare Panelmodelle, Modelle für
diskrete abhängige Variablen, Zensierung, Matching, Duration Analysis)
4 Competences
Die Studierenden
- können formale Darstellungen empirischer Modelle nachvollziehen und erklären
- können aufbauend auf den vorhandenen Kenntnissen aktuelle Entwicklungen der
ökonometrischen Methoden nachvollziehen
- können sich die empirische Literatur auf Grundlage der erlernten Methoden selbständig
erarbeiten und diese bewerten
- können mikroökonometrische Methoden dem gestellten Problem adäquat einsetzen
- können grundlegende Auswertungen und Analysen mittels STATA durchführen
5 Examinations
Klausur (in der Regel: 60-90 Minuten).
6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im M.Sc. Econometrics
9 Module Coordinator Responsible Department
Jun.-Prof. Dr. Daniel Kühnle University of Duisburg-Essen (Essen),
Department of Business Administration and
Economics
Module: Portfolio Management ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Every Summer 1 semester 1st to 3rd semester 6 180h
semester
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Portfolio Management L 3 2
1b Portfolio Management T 3 2
2 Language of instruction
English
3 Contents of the module
The students study the general Markowitz portfolio theory on optimal portfolio selection with and without
risk-free asset. They study problems in the application concerning estimation risk, like the Jobson-
Korkie experiment and possible solutions. The theory is applied to problem in financial and commodity
markets.
4 Competences
Students
- have an advanced understanding in portfolio management
- study modern portfolio optimization methods that take uncertainty into account
- are able to apply the portfolio theory to real problems, especially in financial and commodity
markets
5 Examinations
Final written exam on the teaching materials covered in lectures and tutorials (usually 90-120 min.).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Jun-Prof. Dr. Florian Ziel University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Practising Econometric Research ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Winter semester 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
Seminar: Practising Econometric Research L 6 180 h
2 Language of instruction
English
3 Contents of the module
Participants gain insight into recent econometric research and are familiarized at an early stage with
how professional researchers present by attending several research seminar presentations. Students
prepare themselves for the presentations by reading suitable seminal papers and/or working paper
versions on which the presentation is based beforehand. Summaries of the seminars and a small final
project relating to a selected presentation must be prepared.

Students may choose from a list of seminars at all campuses of TUD, UDE and RUB. These will mostly
be an appropriate subset with statistical/econometric focus of the seminars linked at the bottom of
http://rgs-econ.org/courses/.
4 Competences
The students
• gain insight into recent developments of econometric research in selected fields
• are trained in following scientific talks and are able to critically evaluate these
• are able to apply specialist and methodological knowledge obtained during their studies and
from scientific talks to a particular research topic
• manage to work self-sufficiently at a scientific level under time constraints and thus are also
prepared for writing seminar papers and a master thesis
5 Examinations
Students attend at least 7 presentations in economic research seminars hosted at TU Dortmund
University, Ruhr University Bochum and University of Duisburg-Essen. Attendance needs to be signed
by a present member of the faculty of the MSc Econometrics, or else some other faculty member of the
contributing faculties. Admissible seminars will be announced at the introductory meeting. Students also
may put forward their own suggestions.

A 1-2 page report must be written on each presentation. The summaries should evaluate the talk, i.e.
briefly summarise the topic, explain the scientific contribution and reflect whether or not the talk was
comprehensible and useful for the student. The report is due one week after the presentation.

Based on one of the talks, students will perform a small research project on their own. This might
consist of coding and simulating a new statistical technique put forward in the presentation, replicating
part of the empirical work, providing detailed proofs of a theoretical result, compiling a detailed literature
review etc. The length of the research report is up to six pages.

The assessment of the course will be based (50% each) on the summaries and the research project.
Based on the project, students give a presentation. The grade for the project is based 4:1 on the
research report.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Christoph Hanck University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Quantitative Modelle internationaler Wirtschaftsbeziehungen ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Wintersemester 1 Semester 1. bis 3. Semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Quantitative Modelle internationaler V 3 2
Wirtschaftsbeziehungen
1b Quantitative Modelle internationaler Ü 3 2
Wirtschaftsbeziehungen
2 Language of instruction
Deutsch
3 Contents of the module
Die Veranstaltung vermittelt vertiefte Kenntnisse über die neuere theoretische und empirische
Forschung im Bereich der quantitativen Analyse internationaler Wirtschaftsbeziehungen. Dazu gehören
die Analyse der Auswirkungen der Globalisierung auf das Wirtschaftswachstum von Volkswirtschaften,
die Analyse der Determinanten internationaler Konjunkturübertragung, der Bestimmungsgründe der
Reaktion der Handelsbilanz auf Wechselkursänderungen sowie die Untersuchung der Determinanten
ausländischer Direktinvestitionen und der Organisation multinationaler Unternehmen.
4 Competences
Die Studierenden
- beherrschen den aktuellen Stand der Forschung im Bereich der Theorie und Empirie der realen
Außenwirtschaft und der internationalen Wirtschaftsbeziehungen
- sind in der Lage, die Methoden der angewandten Wirtschaftsforschung selbständig
anzuwenden
- können Fragestellungen aus dem Bereich der internationalen Wirtschaftsbeziehungen
theoretisch analysieren und praktisch überprüfen
- sind in der Lage die relevanten Theorien herzuleiten und zu vergleichen
- hinterfragen aktuelle empirische Studien kritisch
5 Examinations
Zum Modul erfolgt eine modulbezogene Prüfung in der Gestalt einer Klausur (in der Regel: 60-90
Minuten).

6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Volker Clausen University of Duisburg-Essen (Essen),
Department of Business Administration and
Economics
Module: Quantitative Climate Finance ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 2. semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Quantitative Climate Finance L 3 2
1b Quantitative Climate Finance T 3 2
2 Language of instruction
English
3 Contents of the module
Discussion and analysis of financial instruments in the context of economics of climate change.
Introduction to emission trading scheme and valuation methods for emission certificates and financial
contracts based on emission certificates.
4 Competences
The students
- will investigate current issues in the field of economics of climate change with a focus on
quantitative modelling
- understand stochastic valuation methods for financial contracts related to climate issues and
learn how to apply them
- question the models critically, interpret model results and extend them
5 Examinations
Written exam (usually 90 minutes).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Rüdiger Kiesel University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Selected Topics in Risk Management ME6

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 2. semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Selected Topics in Risk Management S 6 2
2 Language of instruction
English
3 Contents of the module
Students independently solve specific problems in the area of risk management. They discuss and
present main aspects of scientific papers on these topics.

4 Competences
The students are able to independently acquire specific knowledge in the area of risk management and
are able to apply these knowledge to solve real word problems. Further, students are able to write a
scientific paper.

5 Examinations
Scientific paper (20-40 pages; 70% of the grade), presentation (about 25 minutes; 30% of the grade)

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Rüdiger Kiesel University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Bayesian Econometrics ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
irregularly 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Bayesian Econometrics L 3 2 SWS
1b Bayesian Econometrics T 3 2 SWS
2 Language of instruction
English
3 Contents of the module
Bayesian inference, classical simulation methods, Markov chains, Markov chain Monte-Carlo methods,
Gibbs-sampling, Metropolis-Hastings algorithm. Applications, such as linear regression, Lasso,
(multivariate) time series and latent variable models.

4 Competences
Students
• acquire comprehensive knowledge of modern statistical and econometric tools
• are capable of applying these to tackle empirical issues in economics and beyond and find and
prepare appropriate data to do so and
• know how to translate an empirical question into an econometric model and critically assess
empirical findings
• are proficient in assessing the formal properties of key methods and are able to derive these
formally
• independently and competently use and develop statistical software and code to put empirical
work into practice
• independently solve selected problem sets

5 Examination
Examination for this module takes place through a written exam (typically 60-90 minutes), an oral exam
or an empirical project (70% of the final grade) combined with a presentation (typically 20 minutes, 30%
of the final grade). The type of examination will be communicated at the start of the semester.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Christoph Hanck University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Causality and Programme Evaluation ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Summer semester 1 semester 1st to 3rd semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Causality and Programme Evaluation L+T 6 4
2 Language of instruction
English
3 Contents of the module
This is a Master/Ph.D.-level course in causal inference and program evaluation methodology. We will
focus on using the potential outcomes approach as a general organizing principle and examine
identification and estimation of treatment effects under various types of assumptions. The course will not
go into great depth in regard to any particular applied econometric method but will instead aim to
provide you with enough knowledge about each one to know when, and when not, to use it in empirical
work.
Course outline:
- Theories of Causation Conducting Experiments in Economics
- Randomisation
- Differences-in-Differences
- Instrumental Variables
- Fuzzy DiD / Multiple Testing
- Regression Discontinuity Design
- Methods based on Unconfoundedness
- Quantile Regression
- Evaluating Evaluation Techniques
4 Competences
Students taking the course will
- Acquire a sound understanding of identification strategies in microeconometrics
- Gain knowledge of the advantages and limitations of experimental research
- Get familiar with the most important non-experimental techniques and their underlying
assumptions
- Learn how to critically assess empirical microeconometric work
5 Examinations
In order to pass the course students need to solve and hand in problem sets (20% of the final grade),
and to write a term paper (usually 20-30 pages, 80% of the final grade) in which they pursue an own
empirical evaluation.
6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Martin Karlsson University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Multivariate Time Series Analysis ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
irregular 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Multivariate Time Series Analysis L 3 2 SWS
1b Multivariate Time Series Analysis T 3 2 SWS
2 Language of instruction
Deutsch/English
3 Contents of the module
Vermittlung der Theorie stationärer und nicht-stationärer Vektor-Autoregressiver (VAR) Modelle und
ihrer praktischen Implementierung. Diskutiert werden stationäre VAR Modelle, Prognosen,
Kointegration, Fehlerkorrekturmodelle sowie Parameterschätzung.

4 Competences
Die Studierenden
• besitzen einen umfassenden Überblick über stationäre und nicht-stationäre Vektor-
Autoregressive (VAR) Modelle
• kennen die statistischen Eigenschaften der wichtigsten Schätzer
• können ökonomische Zusammenhänge in VAR Modelle überführen, geeignete Daten
auswählen und empirische Befunde kritisch kommentieren
• sind in der Lage eigenständig und mit Hilfe statistischer Software empirische Analysen
durchzuführen
• können selbständig ausgewählte Übungsaufgaben bearbeiten

5 Examinations
Zum Modul erfolgt eine modulbezogene Prüfung in der Gestalt einer Klausur (in der Regel: 60-90
Minuten).

6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Christoph Hanck University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Nonparametric Econometrics ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
irregularly 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Nonparametric Econometrics L 3 2 SWS
1b Nonparametric Econometrics T 3 2 SWS
2 Language of instruction
English
3 Contents of the module
Univariate density estimation, multivariate density estimation, inference about the density,
nonparametric regression, smoothing discrete variables, regression with discrete covariates,
semiparametric methods, and instrumental variables.

4 Competences
Students
• acquire comprehensive knowledge of modern statistical and econometric tools
• are capable of applying these to tackle empirical issues in economics and beyond and find and
prepare appropriate data to do so and
• know how to translate an empirical question into an econometric model and critically assess
empirical findings
• are proficient in assessing the formal properties of key methods and are able to derive these
formally
• independently and competently use and develop statistical software and code to put empirical
work into practice
• independently solve selected problem sets

5 Examination
Examination for this module takes place through a written exam (typically 60-90 minutes), an oral exam
or an empirical project (70% of the final grade) combined with a presentation (typically 20 minutes, 30%
of the final grade). The type of examination will be communicated at the start of the semester.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Christoph Hanck University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Financial Econometrics ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Irregularly 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Financial Econometrics L+T 6 2 SWS
2 Language of instruction
English
3 Contents of the module
Stochastic discount factor, Nonlinear generalized method of moments (GMM), Factor pricing models,
Equity premium puzzle, Predictability of returns, Multivariate volatility modeling

4 Competences
Students
• acquire comprehensive knowledge of financial econometric methods for both cross-sectional
data as well as time series data and are proficient in their application
• are able to transfer questions concerning financial market data into suitable models, to estimate
the models with the help of current methods, to draw valid conclusions from the data and to
question the empirical results
• can competently evaluate and critically examine studies in financial econometrics
• are able to solve practical problems independently with the help of statistical software
5 Examination
Written exam (usually 60 - 90 minutes).

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Yannick Hoga University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Seminar Ökonometrische Methoden ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
unregelmäßig 1 Semester 1. bis 3. Semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Fachseminar Ökonometrische Methoden S 6 2
2 Language of instruction
Deutsch/Englisch
3 Contents of the module
Im Rahmen des Fachseminars Ökonometrische Methoden erarbeiten, präsentieren und diskutieren die
Studierenden aktuelle Forschungsergebnisse aus der methodischen sowie unter Umständen
angewandten Ökonometrie.
4 Competences
Die Studierenden
- wenden in den Vorlesungen behandelte Theorien und ökonometrische Methoden auf eine
konkrete empirische Fragestellung an
- führen eigenständig eine ökonometrische Analyse auf aktuellem wissenschaftlichem Niveau
durch
- interpretieren ihre Ergebnisse und vergleichen diese mit relevanten Ergebnissen aus der
wissenschaftlichen Literatur
- ziehen Schlussfolgerungen bzgl. der Theorie und geben Politikempfehlungen
5 Examinations
Zum Modul erfolgt eine modulbezogene Prüfung, die sich auf folgende Prüfungsformen erstreckt:
- Anfertigung einer Seminararbeit mit einer eigenen ökonometrischen Analyse (ca. 20 Seiten
ohne Berücksichtigung der Abbildungen und Tabellen, 50% der Note)
- Präsentation und Disputation der Ergebnisse (in der Regel: 30-40 Minuten, 50% der Note)
6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Christoph Hanck University of Duisburg-Essen (Essen),
Department of Business Administration and
Economics
Module: Statistical Learning ME6 & ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
irregularly 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Statistical Learning L 3 2 SWS
1b Statistical Learning T 3 2 SWS
2 Language of instruction
English
3 Contents of the module
Linear regression and k-nearest neighbors, classification, resampling methods, linear model selection
and regularization, Polynomial regression, splines and local regression, tree-Based methods, support
vector machines, and unsupervised learning.

4 Competences
Students
• acquire comprehensive knowledge of modern statistical and econometric tools
• are capable of applying these to tackle empirical issues in economics and beyond and find and
prepare appropriate data to do so and
• know how to translate an empirical question into an econometric model and critically assess
empirical findings
• are proficient in assessing the formal properties of key methods and are able to derive these
formally
• independently and competently use and develop statistical software and code to put empirical
work into practice
• independently solve selected problem sets

5 Examination
Examination for this module takes place through a written exam (typically 60-90 minutes), an oral exam
or an empirical forecasting project (70% of the final grade) combined with a presentation (typically 20
minutes, 30% of the final grade). The type of examination will be communicated at the start of the
semester.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Christoph Hanck University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Statistical Modelling of Extremes ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
irregularly 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Statistical Modelling of Extremes L 3 2 SWS
1b Statistical Modelling of Extremes T 3 2 SWS
2 Language of instruction
English
3 Contents of the module
Models for maxima, peaks over threshold, extremes of dependent sequences, extremes of non-
stationary sequences and modelling of multivariate extremes.

4 Competences
Students
• acquire comprehensive knowledge of modern statistical and econometric tools
• are capable of applying these to tackle empirical issues in economics and beyond and find and
prepare appropriate data to do so and
• know how to translate an empirical question into an econometric model and critically assess
empirical findings
• are proficient in assessing the formal properties of key methods and are able to derive these
formally
• independently and competently use and develop statistical software and code to put empirical
work into practice
• independently solve selected problem sets

5 Examination
Examination for this module takes place through a written exam (typically 60-90 minutes), an oral exam
or an empirical project (70% of the final grade) combined with a presentation (typically 20 minutes, 30%
of the final grade). The type of examination will be communicated at the start of the semester.

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Christoph Hanck University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Module: Statistisches Seminar ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Sommersemester 1 Semester 1. bis 3. Semester 6 180h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Statistisches Seminar S 6 2
2 Language of instruction
Deutsch
3 Contents of the module
Im Rahmen des Seminars sollen die teilnehmenden Studierenden eine eigenständige empirische
Auswertung eines bereitgestellten umfangreichen Datensatzes anfertigen und die Ergebnisse in einer
Präsentation im Plenum vorstellen.
4 Competences
Die Studierenden
- sind befähigt empirische Analysen nachzuvollziehen und die wichtigsten methodischen Aspekte
zu erläutern
- sind befähigt zur eigenständigen Anfertigung einer empirischen Analyse
- beherrschen die professionellen Darstellung der zugehörigen Ergebnisse mit Hilfe geeigneter
Software
- können fachspezifische eigene aber auch fremde Fragestellungen im Plenum diskutieren und
gemeinsam lösen
5 Examinations
Zum Modul erfolgt eine modulbezogene Prüfung, die sich auf folgende Prüfungsformen erstreckt:
Hausarbeit (15-20 Seiten) und Präsentation (in der Regel: 20-40 Minuten). Hausarbeit und Präsentation
gehen zu jeweils 50% in die Modulnote ein.

6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Andreas Behr University of Duisburg-Essen (Essen),
Department of Business Administration and
Economics
Module: Stichprobentheorie ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
Unregelmäßig zum 1 Semester 1. bis 3. Semester 6 180h
Sommersemester
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Stichprobentheorie V 3 2
1b Stichprobentheorie Ü 3 2
2 Language of instruction
Deutsch
3 Contents of the module
Stichproben stellen eine wichtige und oftmals die einzige Informationsgrundlage über interessierende
Grundgesamtheiten dar. Im Rahmen der Veranstaltungen werden Methoden der Stichprobentheorie
vorgestellt und am Computer umgesetzt.

Die Lehrinhalte umfassen

- Erhebungsverfahren
- einfache Stichproben
- Schichtenstichproben
- Klumpenstichproben
- Gebundene Hochrechnung
4 Competences
Die Studierenden
- kennen ausgewählte Methoden der Ziehung, Hochrechnung und Fehlerrechnung
- kennen die Vor- und Nachteile wichtiger Erhebungsmethoden
- können im jeweiligen Kontext des spezifischen Untersuchungsprojektes alternative
Erhebungsmethoden bezüglich ihrer Eignung beurteilen
- sind befähigt, auf Daten aus Stichprobenerhebungen Schätzfunktionen anzuwenden und
Fehlerrechnungen durchzuführen
- wenden ausgewählte empirische Methoden mit geeigneter Software eigenständig an
5 Examinations
Zum Modul erfolgt eine modulbezogene Prüfung in der Gestalt einer Klausur (in der Regel: 60-90
Minuten).
6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
- keine -
8 Status of the Module
Wahlmodul im M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Andreas Behr University of Duisburg-Essen (Essen),
Department of Business Administration and
Economics
Module: Stochastic Simulation ME7

M.Sc. Program: Econometrics

Frequency Duration Study section Credit Points Time
irregular 1 semester 1st to 3rd semester 6 180 h
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1a Stochastic Simulation L 3 2 SWS
1b Stochastic Simulation T 3 2 SWS
2 Language of instruction
Deutsch/English
3 Contents of the module
Vermittlung von Theorie und praktischer Durchführung von Simulationsstudien, welche statistische
Berechnungen erheblich vereinfachen können. Dies beinhaltet eine Einführung in die Monte Carlo
Methode, die Erzeugung von Pseudozufallszahlen, Varianzreduktion, Rare-Event Simulation, effiziente
Simulation von Stochastischen Prozessen, Markov Chain Monte Carlo Methoden sowie Anwendung
dieser Konzepte anhand diverser ökonomischer Beispiele.
4 Competences
Die Studierenden
• besitzen einen umfassenden Überblick über Monte Carlo Methoden
• kennen die zugrundeliegenden Algorithmen zur Simulation von geeigneten Zufallszahlen und
Zufallsprozessen
• können Monte Carlo Methoden für ökonomische Analysen anwenden
• sind in der Lage eigenständig und mit Hilfe statistischer Software Simulationsstudien
durchzuführen
• können selbständig ausgewählte Übungsaufgaben bearbeiten

5 Examinations
Zum Modul erfolgt eine modulbezogene Prüfung in der Gestalt einer mündlichen Prüfung (in der Regel:
20-40 Minuten).

6 Type of Examinations
Modulprüfung Teilleistungen

7 Requirements
None.
8 Status of the Module
Elective module in M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Christoph Hanck University of Duisburg-Essen, Faculty of Business
Administration and Economics, Campus Essen
Handbook of requirements for the M.Sc. study programme Econometrics
November 14, 2022

POSSIBLE REQUIREMENTS IN CASE OF CONDITIONAL ADMISSION:

Credit
NAME No. Lectures/courses
Points
MACROECONOMICS ME Req1 Reading Course 7,5
Macroeconomics
MICROECONOMICS ME Req2 Reading Course Microeconomics 7,5
ADVANCED MATHEMATICS ME Req3 Advanced Engineering 7
Mathematics
PROBABILITY ME Req4 Reading Course Probability 5
INFERENCE ME Req5 Reading Course Inference 5
LINEAR MODELS ME Req6 Reading Course Linear Models 5
MINOR INTRODUCTORY CASE ME Req7 Minor Introductory Case Studies 5
STUDIES
Module: Macroeconomics Module ME Req1

M.Sc. Program: Econometrics (requirements in case of conditional admission)

Frequency Duration Semester Credit Points Time
Each semester 1 semester beginning of 7,5 225 h
programme
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Reading Course Macroeconomics reading 7,5 -
course
2 Language of instruction
English
3 Contents of the module
The module covers essential dynamic macroeconomic models that are required as a background for
more advanced theories covered in specialized master level courses. The contents follow chapters 2 –
5 and 8 of the textbook by Michael Wickens, Macroeconomic Theory. A dynamic general equilibrium
approach, 2nd ed., Princeton University Press (2011).
4 Competences
Students acquire knowledge of core models and methods of dynamic macroeconomics. They become
familiar with intertemporal optimization and its uses in the construction of baseline models of real and
monetary business cycle fluctuations and long-run growth.

5 Examinations
Oral exam based on the book chapters

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
-none-
8 Status of the Module
Possible requirement in case of conditional admission to the M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Ludger Linnemann TU Dortmund University, Department of Business
and Economics
Module: Microeconomics Module ME Req2

M.Sc. Program: Econometrics (requirements in case of conditional admission)

Frequency Duration Semester Credit Points Time
Each semester 1 semester beginning of 7,5 225 h
programme
1 Structure of the module
No. Courses Type Credit Credit Hours
Points
1 Reading Course Microeconomics reading 7,5 -
course
2 Language of instruction
English
3 Contents of the module
The module covers the essential microeconomic model of rational choices in a general equilibrium. The
topics of this course form the theoretical foundation for the contents of more advanced master level
courses. The contents follow chapters 1 – 10 and 13 of the textbook by Hal R. Varian, Microeconomic
Analysis. 3rd ed., W.W. Norton (2010).
4 Competences
Students acquire knowledge of core models of decision theory for firms and consumers and solve
problems of constraint optimization. They learn how to conduct comparative statics and gain knowledge
of efficiency and welfare of a competitive equilibrium.

5 Examinations
Oral exam based on the book chapters

6 Type of Examinations
covering the entire module Relating to individual courses

7 Requirements
-none-
8 Status of the Module
Possible requirement in case of conditional admission to the M.Sc. Econometrics
9 Module Coordinator Responsible Department
Prof. Dr. Lukas Buchheim TU Dortmund University, Department of Business
and Economics
Module: Advanced Mathematics Module ME Req3

M.Sc. study programme: Econometrics (requirements in case of conditional admission)

Frequency Duration Semester Credit Points Time
Winter semester, 1 semester beginning of 7 210 h
annual programme
1 Structure of the module
No. Lecture/Course Type Credit Credit Hours
Points
1 Advanced Engineering Mathematics L+T 7 3+2
2 Language
English
3 Content
• Linear Algebra: Vector spaces, matrices and equation systems, linear maps, Jordan-, LU-, QR-,
and singular value decomposition, numerical aspects.
• Differential Equation: Linear systems, differential equations with constant coefficients.
• Laplace-Transform: Definition, convolution and application to differential equations.
• Differential Calculus with several variables: Derivatives, inverse and implicit functions, Taylor
expansion and extreme values.
• Stability of Differential Equations: Theorems of Ljapunov and Poincaré-Ljapunov.
• Variational Calculus.
Literature:
• Bajpai, Avinash C. , Mathematics for engineers and scientists
• Meyer, R.M., Essential mathematics for applied fields
• Lancaster, P., Tismenetsky, M., The theory of matrices
• Lang, S., Linear algebra
• Slides
4 Competences
The course gives an introduction to fundamental mathematical techniques used in almost every course.
Attention is given to the underlying mathematical structure.

5 Examination
Written exam (2 hours).
6 Types of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Possible requirement in case of conditional admission to the M. Sc. Econometrics
9 Module Coordinator Responsible Department
Chairman of board of examiners Mathematics
Module: Probability Module ME Req4

M.Sc. study programme: Econometrics (requirements in case of conditional admission)

Frequency Duration Semester Credit Points Time
every semester 1 semester beginning of 5 150 h
programme
1 Structure of the module
No. Lecture/Course Type Credit Credit Hours
Points
1 Reading Course Probability reading 5
course
2 Language
English
3 Content
• Concepts of probability, distributions, conditional probability and independence, Bayes’ rule,
sequences of events.
• Sampling, Binomial distribution, Normal approximation, Poisson distribution.
• Random variables, expectation and variance.
• Probability densities, Exponential and Gamma distributions, substitutions, cumulative
distribution functions.
• Joint distributions, Uniform and Normal distributions.
• Dependence, conditional distributions, covariance and correlation.
Literature:
Jim Pitman: Probability. Springer 1993: Chapters 1, 2.1, 2.2, 2.5, 3.1-3.5, 4.1, 4.2, 4.4, 4.5, 5.1-5.3, 6.
4 Competences
Students gain a deep understanding of probability. They independently integrate statistical problems in
the context of probability theory and solve them using appropriate methods.
Students apply mathematical proof techniques.
5 Examination
Examination based on the book chapters.

6 Types of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Possible requirement in case of conditional admission to the M. Sc. Econometrics
9 Module Coordinator Responsible Department
Chairman of board of examiners Statistics
Module: Inference Module ME Req5

M.Sc. study programme: Econometrics (requirements in case of conditional admission)

Frequency Duration Semester Credit Points Time
every semester 1 semester beginning of 5 150 h
programme
1 Structure of the module
No. Lecture/Course Type Credit Credit Hours
Points
1 Reading Course Inference reading 5
course
2 Language
English
3 Content
• Parametric point estimation: method of moments and maximum likelihood; consistency;
sufficiency; error, bias and loss; completeness; Rao-Cramer-bound; invariance; Bayesian
estimation.
• Parametric interval estimation: confidence intervals, especially for Normal distribution
parameters, finding methods, Bayesian estimation.
• Tests of hypotheses: simple and composite hypotheses, loss function, (uniformly) most
powerful tests, unbiased tests, tests for (multivariate) Normal distribution parameters, Chi-
square tests, relation to confidence intervals.
Literature:
Alexander M. Mood, Franklin A. Graybill, Duane C. Boes: Introduction to the Theory of Statistics.
McGraw-Hill 1974: Chapters VII, VIII, IX.1-IX.6.
4 Competences
Students calculate point and interval estimators and carry out significance tests. They prove basic
properties of estimators and tests.
Students apply the methods to real data.
5 Examination
Examination based on the book chapters.

6 Types of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Possible requirement in case of conditional admission to the M. Sc. Econometrics
9 Module Coordinator Responsible Department
Chairman of board of examiners Statistics
Module: Linear Models Module ME Req6

M.Sc. study programme: Econometrics (requirements in case of conditional admission)

Frequency Duration Semester Credit Points Time
every semester 1 semester beginning of 5 150 h
programme
1 Structure of the module
No. Lecture/Course Type Credit Credit Hours
Points
1 Reading Course Linear Models reading 5 -
course
2 Language
English
3 Content
• Introduction to regression models: real data examples, simple and multiple linear models,
binary response models.
• Linear model components: parameters, covariates, residuals, assumptions.
• Parameter estimation: coefficients and error variance.
• Hypothesis tests and confidence intervals: F-Tests, confidence regions, prediction intervals.
• Model choice: variable selection, prediction evaluation, criteria.
Literature:
Thomas Kneib, Stefan Lang, Ludwig Fahrmeir, Brian D. Marx: Regression: Models, Methods and
Applications. Springer 2015: Chapters 1, 2.1-2.3, 3.
4 Competences
Students calculate point and interval estimators and carry out significance tests in the context of the
linear model. They have knowledge on model selection.
Students apply the methods to real data.
5 Examination
Examination based on the book chapters.

6 Types of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Possible requirement in case of conditional admission to the M. Sc. Econometrics
9 Module Coordinator Responsible Department
Chairman of board of examiners Statistics
Module: Minor Introductory Case Studies Module ME Req7

M.Sc. study programme: Econometrics (requirements in case of conditional admission)

Frequency Duration Semester Credit Points Time
every semester 1 semester beginning of 5 150 h
programme
1 Structure of the module
No. Lecture/Course Type Credit Credit Hours
Points
1 Minor Introductory Case Studies P 5 4
(parts of the course “Fallstudien I” of the (for 3/7 of the
module BD 17 of the Bachelor programme sem.)
Data Science)
2 Language
English, enclosed in a German course
3 Content
The aim of the course is to familiarise students with the independent evaluation of statistical data sets.
In addition to the provision of a catalogue of basic standard procedures for data evaluation, a central
learning objective is the appropriate presentation of the methodological approach and the evaluation
results in verbal and written form. In order to achieve these learning goals, students have to work in
small groups (three to four members) on projects for a total of 3 method complexes. The time frame for
each project is one to two weeks, depending on the level of difficulty. The intermediate and final results
of the statistical evaluation are presented alternately by the groups. After completion of each project,
each student must write a short, written report in which the results achieved in the group and the
methodology used are presented in an appropriate manner.
Data Science Master students work on the first 3 of 5 projects.
4 Competences
Students work independently according to scientific criteria and report orally and in writing on their work.
Students apply statistical methods to real data sets, modify the methods if necessary and work out
methods unknown to them. They derive solutions to problems and reflect on them. They work together
in groups. They prepare and give presentations, explaining statistical methods and communicating
results. They discuss their own and other methods, results and reports with others. They complete the
projects within a short, given time.

5 Examination
Written reports and oral presentations.
6 Types of Examinations
covering the entire module Relating to individual courses

7 Requirements
- none -
8 Status of the Module
Possible requirement in case of conditional admission to the M. Sc. Econometrics
9 Module Coordinator Responsible Department
Chairman of board of examiners Statistics