International Economic Studies – IES

International Economic Studies is a graduate option within the Bachelor of Economics curriculum. It is a general economics programme, which means that is does not only look at the economy from a firm perspective. Central is the utility maximizing individual. This means more than acquiring as much money as possible. The decisions he or she makes depend on this objective, which is usually personal welfare in the broadest sense. IES also studies how nations decide on their policies, e.g. trade policy, and what the effects of different policies are.

The study is characterized by its multidisciplinary approach. By analyzing the actions of individuals, a thorough knowledge of the individual itself is necessary. Therefore, sociology and psychology are important parts of IES. Law is another field incorporated into IES. Students are encouraged to broaden their horizon during the mandatory study abroad in the third year. IES students are allowed to take virtually all courses offered by the host university.

You might wonder what courses you will encounter in the IES programme. In the first block of the second year you will deepen your knowledge of Quantitative Methods in QM3. This gives you the proper tools to analyze, judge and improve the economic models used in other courses. The general economic knowledge you need is offered in the Micro and Macro Economics courses, which are offered in block one and two of the second year respectively.

These three subjects are necessary for a good understanding of the following mandatory IES courses in the second year. In Public Economics market failures and proposes solutions are investigated. This course critically analyzes the concept of perfect competition. As you will find out, models are always simplified versions of reality and one has to know their strengths and weaknesses. In Productivity, economic growth is studied. Why some countries grow faster than others and why income differences across the globe exist and persist. International Economics explains trade flows and studies different models explaining these flows. In the last block of the second year the study becomes more multidisciplinary. Sociology gives you a better insight in analyzing the actions of individuals. Especially, what the influence of society is on the individual. Institutions, Behaviour and Welfare takes a closer look at the role of institutions in society and the economy.

After finishing the three year Bachelor study, a Master of Science in International Economic Studies is offered. This is a highly specialized one-year Masters programme where you will specialize in one out of five tracks. The tracks are: Behavioural Economics, European Economic Policy, International Competition Policy, Public Economics and Social Economics. There is further a track in Financial Economics which is tailored to students of Finance or IES. In the first three blocks, you will follow each block one course from the track you have chosen. To maintain the multidisciplinary character of IES, a Social Science course will be followed in the first block. In blocks two and three, you can choose a free elective. Finally, in the fourth block you will finish your study with a Master's thesis.