Staat, Wirtschaft, und Gesellschaft [Polity, Economy, and Society] (Bachelor, mandatory course)
Access to course materials in the summer term 2026:
via ssh access
https-access
Content:
This module examines the philosophical and politico-institutional foundations of economics. The first part focuses on the relationship between the individual and society, exploring key philosophical approaches such as liberty, liberalism, utilitarianism, contractualism, and Marxism. The second part introduces choice theory and derives the central concept of individual preferences. The third part addresses the challenge of aggregating individual preferences to arrive at collective decisions. In this context, we consider Arrow’s Impossibility Theorem, which demonstrates that there exists no decision rule that simultaneously satisfies minimal democratic requirements. In the fourth part, we discuss why market outcomes based on liberal principles latently exhibit inherent inconsistencies. The fifth and final part of the module explores issues of justice and fairness and analyses how these concepts are incorporated into economic theory.
All topics are developed using formal logic. In particular, the module draws on binary relations and set theory. In addition to this formal perspective, approximately eight to ten seminal academic articles are discussed throughout the course, illustrating key milestones in economic thought.
Main Reference:
Amartya Sen: Collective Choice and Social Welfare. Harvard University Press (Penguin Books) 2017
Social Choice (Bachelor, Q+, RMU, Erasmus)
Access to course materials in the summer term 2026:
via ssh access
https-access
Content:
The group's members' divergent interests and concerns can make group decision-making cumbersome and challenging. The theory of social choice evaluates how the concerns of citizens can be reflected in responsive government decisions. The theory of social choice is a broad field of study which encompasses a variety of questions and disciplines. The Arrow Impossibility Theorem will serve as our point of departure. The process of democratic decision-making will be discussed, leading to the normative theory of voting. Even if democratic elements are eliminated from the list of desired requirements, Arrow's findings still hold true. This indicates a fundamental conflict between Paretian consensus and liberal values, as well as an inevitable conflict between efficiency and basic rights. All of these factors revolve around Sen's Impossibility of a Paretian Liberal, the second theory we will examine. The course concludes with discussing various 'transcendental' approaches to social welfare, including utilitarianism, Rawls, Capability, etc.
Main Reference:
Amartya Sen: Collective Choice and Social Welfare. Harvard University Press (Penguin Books) 2017
The assessment in the module 'Social Choice' comprises two components: a term paper and a presentation.
Students enjoy considerable latitude in selecting their topics. However, it is imperative that the chosen subject matter maintains a clear and direct connection to the course content or the overarching theme of "Social Choice." Consequently, all assessments must be grounded in an existing research study. Building upon this foundation, students may, for instance, develop and discuss a case study. Suitable research articles can be found in journals such as Public Choice, European Journal of Political Economy, Social Choice and Welfare, and Mathematical Social Sciences.
Prior to the assignment of topics, students are required to submit an essay in which they outline and articulate what they perceive as particularly relevant and compelling about the selected research article. Based on this assessment, students can then apply the insights derived from the external research to a specific topic. Therefore, a successful completion of the assessment presupposes a thorough mastery of the content delivered in the Social Choice lectures.
Impressions of students who previously took the course:
Summer Term 26
Lec: Mon 2:15pm - 3:45pm, HS VIII and Thur 12:15pm - 13:45pm, HS VIII
Finanzpolitik (Bachelor)
Access to course materials in the summer term 2026:
via ssh access
https-access
Content:
The module focuses on significant challenges encountered by governments. We will get started with the administration of the public household. Then, an introduction will be provided to tax schemes, tax incidence, and tax policy. Armed with these theoretical pillars, we will address equitable and effective taxation. Our insights will be applied to tax policy in Germany and the European Union. The course concludes with a discussion of the public debt regulations for Germany (debt brake) and the EU (fiscal pact). The class is taught in German.
Main reference:
Anthony Atkinson and Joseph Stiglitz: Lecture on Public Economics, Princeton University Press, 2015.
Summer Term 26
Lec: Mon 10:15am - 11:45am, HS III
Tut: Tue 10:15am - 11:45am, RW 3 (by Josua Carnetto)