The content for option B, Major B1 is provided in the tables below. It is composed of blocks of courses for all the corresponding cohort and of blocks in which students can choose between different special focuses (SF).
The 1st year at the Berlin School of Economics and Law (BSEL)
Students choosing “option B” (Major B1) spend a whole year at Berlin. The year will be structured in six blocks aimed at providing in-depth skills in macroeconomics and governance and to discuss current issues in international economics. The blocks 1, 2 5 and 6 are courses designed for all the students at BSEL (options “B” and “C, Major C2”).
The first block (Semester 1) deals with “International macroeconomics and economic policies”. It comprises courses given by world leading academics specialised in economic policy in their particular fields. They will emphasise theoretical and political controversies in order to provide the students with a critical and open approach to economic policy in the age of globalisation. This block includes the following courses.
- “Macroeconomics” (by E. Hein) provides an overview of the main paradigms in macroeconomics at intermediate/advanced level focusing on modern versions of new Keynesian and post-Keynesian macroeconomics. In the first part, different schools of mainstream macroeconomics after Keynes are discussed: neoclassical synthesis, monetarism, new classical economics, new Keynesian economics and the New Consensus. The second part focusses on post-Keynesian macroeconomics, develops a full post-Keynesian alternative to New Consensus macroeconomics and finally discusses the recent financial and economic crises against the background of these approaches.
- “International economics” (by J. Pedussél Wu and M. Metzger) should provide students with critical understanding of the principal theoretical controversies, historical developments and current policy debates in the field of international economics. The first part of the course will address international trade; the second part will focus on international monetary and financial developments.
This block of courses will also have participation from external speakers (e.g. in 2009-2010, T. Palley (New America Foundation, Washington), on ‘America’s exhausted paradigm: Macroeconomic causes of the financial crisis and great recession’ and S. Sen (Institute of Studies in Industrial Development, New Delhi), on ‘China and India and the current global crisis’, and 2011-2012, M. Lavoie (University Paris 13) on ‘History and methods of post-Keynesian economics’).
The second block (Semester 1) addresses “Development policies and global governance”. It will develop the role of institutions in the global economy through an interdisciplinary approach which will introduce historical patterns and sociological dimensions related to economic policy.
- “Global governance” (by C. Teipen) will provide a basic understanding of the fundamental redesign of political and economic arrangements, including the world’s formal and informal rules. The course develops an understanding of the different goals and instruments available to actors such as government representatives at national, regional and international level, civil society activists and private corporations. Case studies of some of the key processes involved in global governance will be addressed in detail.
- “Development economics” (by H. Herr). will emphasise questions related to poverty (gender and poverty, where the poor in the world live, how poverty has developed in recent decades). Different development strategies will be discussed, including those employed by the major international institutions, along with the extent to which they have been successful or not. Case studies from developing countries across the world will be used to provide a deeper understanding of the development models.
The third block (Semester 2) deals with “Contemporary economic policies for globalisation”. It is composed of two courses.
- “Current issues in international economics” (by C. Teipen and H. Herr) involves a programme of research and debate focussed on the various dimensions of the recent international social and economic developments. Examples of the issues that considered include the following among others: Adaptation to climate change in the global South, Green Keynesianism or economic policies of reducing growth, A new international and national financial system, Speculation and the global food crisis, Fiscal policy, government debt and long-term development, Trends and explanation of changes in income distribution, Restructuring of global value chains and impacts on working conditions, Digitalisation of work and employment, etc.. Following an introduction by the lecturers, students will form small research groups each of which will focus on a particular question and then present their results to the whole class.
- “Political economy of modern capitalism” (by T. Evans). The course begins by examining the emergence of industrial capitalism, and whether it was growth in world trade or domestic agricultural developments that were the key factor. The development of capitalism will be examined in phases related to the organisation of work, structure of the firm, functions of the state, nature of the monetary and financial system, and the role of trade and the world market. A major part of the course will be devoted to examining the specific features of the new phase of capitalism that began in the 1980s, including the role of global financial markets, the importance of multinational corporations, and the emergence of major economic powers in the developing world. A key concern throughout the course is to identify the interactions between economic and political factors, driving capitalist development.
The fourth block (Semester 2) deals with “Institutions, growth and distribution”. It is composed of two courses.
- “Growth and Distribution” (by E. Hein) starts from the empirical development of income distribution and growth in the major OECD countries. Students will learn how distribution and growth issues are treated in different economic paradigms. Post-Keynesian models will be studied in depth and applied to development since the 1960s. Invited external speakers will deliver lectures on related fields (e.g. in 2014-15, G. Zezza (University of Cassino) ‘Stock-flow-consistent modelling: from theory to empirical applications’, in 2015-16, C. Sardoni (University of Rome, La Sapienza) ‘Unemployment, recession and effective demand: Marx, Keynes, Kalecki’).
- “Institutional Economics” (by M. Kronauer) is a course divided in two parts: the first focuses on international institutional economics, the second on a particular set of institutions (welfare states) and the impact of globalisation on the provisioning of welfare. The course demonstrates the importance of social rules for economic interaction and cooperation but also the need for embedding markets in non-market rules to ensure the well-being of people and societies. It should foster an understanding of institutional variety and the social and economic consequences in international comparisons and discuss the impact of globalisation on institutional change.
The fifth block includes “tutorials and methodology” involving classes, group attendance and self-study (on a yearly basis). This will help students to formulate their research questions and provide ongoing support for the Master’s dissertation. It will include an assessment of options in light of provisional career plans (not graded), guidance on successful study methods, and guided reflection on study progress and professional perspectives.
The sixth block is related to the study of languages (on a yearly basis). Introduction to French will be mandatory for students with no knowledge of the French language. There will be opportunities to study German (at beginners or advanced levels) and advanced English (including academic writing).
The first five blocks will provide consistent and high-level training in macroeconomic, financial and development policies on an interdisciplinary basis and include participation from professionals and external speakers. Consistent with the aims of the EPOG Master’s Course, they will provide specific expertise and a general understanding of the interdependencies among economic policies in a globalised economy.
All the Master’s courses at the Berlin School of Economics and Law will be taught in English.
Course details (teaching hours, ECTS, teaching staff) for the 1st year.
Semester 3 at the University of Paris 13
“Option B” students will have to choose between two special focuses (SF): macroeconomic policy and financial regulation. Similar to the other options, the 3rd semester for “option B” is divided into five blocks (+ the “induction month”), characterised by an important focus on macroeconomic and financial policies. The participation of professionals (from banks for the special focus on financial regulation) and world famous external academics (especially for the focus on macroeconomic policy) will be special features of this semester.
The first block deals with “Macroeconomic and financial policies”. It comprises four courses:
- “International macroeconomics” (by D. Lang) which is a common course for students taking options B and C (see the above description). All “option B” students will automatically be integrated with the second year level (which complements the courses taught in Berlin during the first year).
- “Financial instability and international regulation” (by G. Dymski and H. Tordjman). The course will focus on the financial dimensions of globalisation and is aimed at providing a good understanding of the mechanisms behind financial crises, and presenting major trends towards financial regulation at the European and international levels. The major issues that will be addressed are: the theories of financial crises, the different paradigms and the recent debate on the causes of crises in developed countries and emerging market economies, the instability of finance-led capitalism, new trends in regulation in the aftermath of the subprime crisis, the role of central banks with respect to financial stability.
- “Institutions and international finance” (by R. Guttmann) addresses the institutions involved more specifically in financial regulation. It includes three interrelated topics: the international monetary system and the sources of its instability, finance-led capitalism, and systemic crises in finance-led capitalism. Management of crises, the impact on the Eurozone and possible reforms are discussed in detail
- “Financial strategies and international accounting” (by T. Auvray and Y. Biondi). This course will be given by a CNRS researcher, a former financial analyst and project manager in the executive managerial team of a leading Milan bank (European Bank Group, Corporate Headquarters) where he acquired sophisticated skills in risks assessment, structured finance, and financial-economic modelling of investment projects. This course will provide important skills and knowledge on both theoretical and practical aspects. It will address control, governance and regulation of business and non-business organisations in the global arena. International accounting standards, financial performance analysis and measurement, financialisation of corporate governance and behaviour, and financial-economic engineering arrangements will be discussed in order to understand current corporate and regulatory practices and regulations, their transformation over time, and their implications for public policy, socio-economic development and public interest. The course will be organised to include general courses with academic teachers, case studies and invited speaker courses (auditors, financiers, regulators, financial analysts, policy-makers…).
The second block deals with « Econometrics and quantitative methods for research » (by. H. Harari-Kermadec). It includes panel data, time series, sequence analysis…
The third block includes two special focuses to allow students to deepen their expertise on one of the fields related directly to their option:
- SF1-B: “Post-Keynesian economics” (by M. Lavoie) is related to the study of international institutions and post-Keynesian economics (continuing the courses taught in Berlin). It will provide training in the analysis of macroeconomic cycles and crises. It covers the role played by the financial and banking sectors in globalised economies, the nature of the finance-led growth regime and the recent crisis, international disequilibria and their persistence. The role of income distribution and other economic policies to help prevent such events are emphasised relying on the latest post-Keynesian developments. A special focus on the relationship between macroeconomic modelling and an explanation of business cycles, and between Kaleckian models of growth and income distribution and Kaldorian models with path dependency and cumulative causation.
- SF2-B: “Financial theory and portfolio management” (by N. Rey).
- SF3-B: “Labour and discriminations” (by A. Ghirardello) addresses the question of the impacts of inequalities and discriminations in a globalised context: labour market inequalities (unemployment, wages, working conditions), discrimination (from a theoretical perspective and with an emphasis on the developed countries), health and labour, segregation. The related philosophical (Rawls, Sen, Honneth, and others) and sociological (Bourdieu, Boltanski and Dubet) issues will be discussed in order to provide an interdisciplinary approach.
As for the other options, students will attend “joint seminars” (4th block) and optional training in languages (5th block). The philosophy is the same than for the other options (provide interdisciplinary approach and skills through the participation of professionals, same language policy).
All mandatory courses will be taught in English (i.e. blocks 1, 2 and 4). At least one of the special focuses (block 3) will be taught in English, allowing students that want to study only in English to do so.
Course details (teaching hours, ECTS, teaching staff) for Semester 3.
Semester 4: Master’s dissertation.