The Department of Management and Microeconomics follows the example of American business schools in its combination of business and economics topics and methods. It thus represents a unique concept in the German university landscape.
Economists from Adam Smith to Kenneth John Arrow to Oliver Williamson agreed that division of labor processes in the economy condition the existence and growth of organizations. However, the benefits of division of labor can only be realized if the organizations in which the processes take place are embedded in functioning markets, regulatory environments, and social norms. Thus, markets and organizations are not only alternative institutions for managing economic transactions. They are also complements and together determine the welfare of a community.
Our research is devoted to the analysis of markets and organizations: strategic behavior of firms in the market, competition policy and regulation are among our topics as well as entrepreneurial innovation, organizational design, human resources, motivation and leadership research, and the efficiency of political markets or financial markets. Our research covers the fundamentals of human behavior as well as empirical studies on the consequences of corporate policies on efficiency, consumer benefits and employee satisfaction.
We measure ourselves by conducting excellent, internationally published research, offering quality teaching, and promoting the transfer of knowledge to and from practice. We do not see these three elements as contradictory, but rather as complementary and mutually reinforcing elements of our work. We use methods from game, decision and contract theory, data from laboratory studies, surveys, controlled field experiments, web data, company data and analyze them with modern econometric methods and AI.
The aim of our education is to provide students with strategic and analytical concepts, and methodological skills, which they apply and deepen in practical lectures, seminars, bachelor and master theses.
Job fields for students in the MM concentration include positions in management trainee, organizational development and human resources, management consulting, and data science. We prepare our doctoral students in particular for academic careers.