Management and Economics, focus Economics, Bachelor 2 subject

  • Which are the advantages and hazards of globalisation?
  • How can successful commercial operations be reconciled with environmental protection?
  • How can pensions truly be secured?
  • Should solar power, wind power or other energy sources be financed by the government?
  • Which are the best ways to support poorer countries in their economic development?
Barbara Treude

As a political economist, you must have a deep love for theories and abstract thinking.

– Barbara Treude, Master's degree

Profile

Degree
Bachelor of Arts
Start
Winter- and summer semester
Duration
6 semesters
Classroom language
German
Admission
Restricted

2-Subject Bachelor Programme

This degree programme requires a second subject for which advanced knowledge of German language is mandatory.
Information on enrollment/application for German applicants

Information on enrollment/application for German applicants

Application information for international applicants

Application information for international applicants

What's it all about?
This degree programme is unique, because ...
it makes it possible to combine Economics with a wealth of other degree courses.
It provides the opportunity to specialise in the following fields ...
  • International Business & Financial Relations
  • Environmental and Resources Economics
Who is suited?
Those who wish to enrol in this degree programme,
has: good analytical skills, basic grasp of English
enjoys: studying economic issues, from the regulation of financial markets to environmental economics
struggles through: mathematic and statistical principles of the modern economy
Graduates from this degree programme frequently work
  • in ministries
  • in public administration
  • in international business organisations
  • as political consultants
And else?
A prep course ... can be covered voluntarily.
Name: Mathematics for economists
Start:
Further information about prep courses
An internship ...

is optional.

Studying abroad ... can be covered voluntarily.
Where do I find help?
Academic advisory office

Kim Kim Docter & Michèle Teufel
Building, Room: GD 03/ 229
Phone: +49 (0)234 / 32-22762/ 22687
Email:
Website academic advisory office

Contact students

Fachschaft Wirtschaftswissenschaft
Building, Room: GD 03/165
Phone: +49 (0)234 / 32-27854
Email:
Website Fachschaft

Internet

Degree programmes' website

Barbara Treude
Barbara Treude is a first-year student of Economics. She is pursuing the Master of Science degree.

What made you choose this degree programme?

I wanted to understand the way “the world” – our global economy and society – works, what keeps it together, by which rules it is governed.

In which respect have or haven’t your expectations been fulfilled?

When pursuing the degree in Economics (VWL), you learn how individual decisions are founded (microeconomics) as well as how individual decisions merge into one large entity, namely political economics and how political economies interact with each other (macroeconomics). Several models are used for this purpose, all of which are based on assumptions. Because these assumptions are often much simplified, they can provide only a partial image of reality. In order to close this gap, much effort has been poured into empirical research lately. Therefore, Economics (VWL) has been increasingly approaching the questions of how people decide and how political economies work, but it has not yet found a clear-cut solution – such as I had expected before I enrolled in the degree programme.

Which aspect of your degree programme do you enjoy most?

As political economist, you must have a deep love for theories and abstract thinking. If that's not the case, you should approach the same issues from a different perspective, for example by studying social sciences. I enjoyed making assumptions, using them to set up a model and to draw consistent conclusions from my model. It is rather like solving puzzles. What I like about empirical courses is that research closely follows reality. To me, the correlation between a theoretical model and its empirical verification is what political science is truly all about. Here, I believe I have the tools – or very nearly have the tools – for understanding and describing how people behave in a certain situation.

What has been your biggest challenge to date?

The Economics degree programme requires students to completely penetrate a model – theoretically or empirically. This takes time and stamina, because a lot is abstract and, therefore, seems much more complicated than it really is. Moreover, you need good maths skills. You don't necessarily have to acquire them at school (I only attended a basic class), but you mustn't be afraid of maths and must be willing to immerse yourself in mathematics.

What would you like to become after completing your degree?

Seeing as I'm also a Sinologist, I am particularly interested in the (sustainable) development of China. I am planning to write my PhD thesis in this subject and to pursue an academic career. However, many career paths are open to a political economist, and I'm not averse to taking other opportunities, either.  

Which advice would you like to give to students who consider enrolling in this degree programme?

It is very important to familiarise oneself with the difference between Management and Economics with focus on Management (BWL) and Management and Economics with focus on Economics (VWL) – simple Internet research will suffice. The RUB offers the option of combining both, or to combine one of the degree programmes with a different discipline (Bachelor). Then, try to find out what your goals are. Economics is the more theoretical, more abstract and more intangible discipline. Management prepares you for specific duties within a corporation, whereas Economics provides you with tools that may be applied in various contexts. If you want to understand and learn how to model human decision-making and/or (supra) national interrelations, Economics is the right discipline for you.