Goethe University’s Faculty of Economics and Business is among the largest economics faculties in Germany with an impressive research record and a strong tradition. Ludwig Erhard, the “father” of the German “Wirtschaftswunder” (economic miracle) and later Chancellor of the Federal Republic, received his doctorate at this Faculty; Erich Gutenberg, founder of modern Business Administration, worked here as a researcher and teacher during the early post-war years; and Reinhard Selten, the first German to receive the Nobel Prize in Economics, wrote his post-doctoral thesis at this university. A large number of the economics and business professors currently working in Germany have spent some time of their academic career at Goethe University Frankfurt.
More than 65 professors, assistant professors and senior professors are currently working at this Faculty. Since 2000, they interdisciplinarily collaborate across departments that overcome the traditional separation of economics and business:
- Applied Econometrics and International Economic Policy
- Business Informatics and Information Economics
- Management and Microeconomics
- Money and Macroeconomics
- Business Education
The close link between economics and business administration, the special care taken of theoretical analysis and empirical research as well as an open-mindedness for a broad range of practically and societally relevant questions are the main characteristics of the research at this Faculty. Since the foundation of the Frankfurt Laboratory for Experimental Economic Research (FLEX) in 2008, there is also a growing interest in experimental research that follows in the tradition of renowned members of the Faculty such as Reinhard Selten or Heinz Sauermann.
Last but not least, research and teaching at the Faculty are also shaped by the economic structure of the Rhine-Main area. Exchange and cooperation with the business community provide new ideas in terms of content, research on the basis of real data and societal relevance. With the House of Finance and the Leibniz Institute for Financial Research SAFE, financial research here forms a counterpart to the financial and regulatory center of Frankfurt. The Department of Money and Macroeconomics benefits from the proximity to and exchange with the Deutsche Bundesbank and the European Central Bank.