The Chair of Macroeconomics and International Economics explores macroeconomic correlations.
Our focus is on macroeconomics based on institutional economics, and we enquire into suitable institutional arrangements generating stable and sustainable economic growth. In addition, the Chair pursues application-oriented research on relevant economic policy issues at the national, European and international level. We strive for close co-operation with national and international institutions, other universities and companies.
In our teaching and research, we aim at linking theoretical findings with practical economic policy. The focus is therefore on the analysis of economic policy developments. Students experience the theoretical fundamentals of economic policy by applying them to practice, covering not only classical macroeconomic issues, but also issues of applied international competition and foreign trade policies.
Our research aims at significantly contributing to a better understanding and explanation of macroeconomic processes. Students shall be enabled to interpret macroeconomic correlations and developments from various economic schools of thought and elaborate appropriate solutions. We consider ourselves a service provider to society by exploring the relevance and significance of current macroeconomic phenomena and by publishing our findings in relevant journals and making them available to public discussion.
Economic action is always embedded in social and political contexts. Our teaching therefore focuses on gaining insight into these mutual correlations. Students shall be enabled to identify these correlations and assess the complexity of an economic system. The following questions are of interest in this context:
Our scientific work also focuses on the research of macroeconomic developments and their influence on financial markets. Within this research context, we closely collaborate with various actors in financial markets, in particular with banks and insurance companies, in order to considerably contribute to theory-practice interaction.
Current research topics of the chair:
The central banks’ policy of low interest rates overrides the interest rates for optimum investment allocation worldwide, leading to massive distortions in financial markets with a dramatic macroeconomic impact on capital accumulation. This research project explores long-term macroeconomic risks of the policy of low interest rates.
Increasing institutional divergence is the major cause of the euro zone crisis. Unlike anticipated before the start of the monetary union, divergence within the euro zone has not decreased but rather increased due to institutional divergence processes.
Within the context of our research project, we investigate the correlations between institutional divergence and its macroeconomic effects on the euro zone. The research findings shall serve as a basis for recommendations on the future drafting of incentive-oriented provisions within the European Economic and Monetary Union.