Chair of Economics, in particular Macroeconomics
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Prof. Dr. Georg Stadtmann – curator of the Viadrina Consulting Group (VCG) – welcomed the participants of the business meeting on June 11, 2015 in Logensaal. Business Studies at a university is sometimes remote from actual practice but instead there is a very good academic education at the Viadrina. Nevertheless, practice orientation can be gained through participation in company presentations and workshops as they are offered, for example, by VCG or within the entrepreneurship fair „viadukt“. „I was quite surprised by the level of response: Although lectures were held simultaneously more than 100 students came to the Logensaal“, summarizes Professor Stadtmann. Cordial thanks to VCG organization team and the company representatives from accenture, pwc and roever broenner susat.
The new I CEE Tax Newsletter April 2015 is ready. It contains among others also a contribution about the conference „(Youth) Unemployment in Europe“ which was organized by our Chair as well as a short report on the excursion of the Master course „International Finance“ to the state university in Pskov (Russia). Cordial thanks to the Chair of Prof. Kudert for the preparation of the newsletter. I wish you pleasant reading.
Together with the International Office of Viadrina an application was filed to DAAD for funding of "International Study and Training Partnerships". Thanks to the financial support an intensive exchange with the university in Cali (Colombia) will be possible in the future. Congratulations to Grietje Zimmermann from the International Ofice who was in charge of the application. Viadrina lecturer Georg Stadtmann is looking forward to a more intensive cooperation with students from South Amarica.
More than 700 teams from all over the world took part in CME Group Trading Challenge 2015, a virtual stock market game. The goal was to achieve profits as high as possible from a starting capital of 100,000 USD. During this competition, which is dominated by teams from US universities, the Viadrina team „The Ostblock-Traders“ performed quite well and took one of the places in the upper part of the table. However, this placing was not sufficient for a place in the final table where only the best 50 teams were listed. The supervisor of the Viadrina team Prof. Dr. Georg Stadtmann is nevertheless very satisfied with the performance: „The guys invested properly, they provided good forecasts and did not put all their eggs in one basket. The learning curve was steeply rising, this gives me a positive feeling. We gained valuable experience which we will definitely apply in the future competitions.“
In the framework of scientific presentations a platform was established for information transfer between the researchers of the European University Viadrina and the companies from the region Frankfurt (Oder). The goal was a presentation of the research at the Viadrina on the one hand and approaching of the problems of the companies on the other hand. Prof. Dr. Georg Stadtmann explains: „The cooperation possibilities between the regional companies and the university have great potential. This should now be exploited.“ In the framework of the Research Day he participated with a presentation on the subject of: „Shakeout in industrial life cycles“ and introduced an own study for IT-Outsourcing industry in Germany. However, the theoretical explanatory models are also relevant, for example, for the photovoltaics industry, where a lot of companies are withdrawing at the moment.
On Groundhog Day, Honoring A Forecasting Giant
Dear friends: The special issue of International Journal of Forecasting honoring Herman Stekler has been published. Stadtmann et al. contributed a paper with the title: Forecasting the Brazilian real and the Mexican peso: Asymmetric loss, forecast rationality, and forecaster herding
Link to story about Herman and the issue (with pictures!): http://www.prakashloungani.com/2015/02/on-groundhog-day-honoring-forecasting.html
Link to Stekler issue of IJoF: http://www.sciencedirect.com/science/journal/01692070/31/1
Mr. Byambatsogt has great plans for his future: He wants to go back to his homeland – Monogolia – in order to set up his own cheese factory. To my knowledge, it is the first Viadrina start-up in Mongolia. The whole Chair of Macroeconomics wishes him all the best and good luck. We look forward to the first pictures of the new factory and maybe we will soon be able to write a new entrepreneurial case. We will stay in contact and report.
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In the forhtcoming summer semester 2015 an event in Pskov (Russia) will take place as part of the Master course "International Finance" in cooperation with the university in Pskov. Information on the event can be found here. Please keep in mind the application deadline (January 31).
The national association Brandenburg of the Europa-Union Deutschland (EUBB) invited on 28.10.2014 to an event under the title „Entwertung des Ersparten? – Chancen und Risiken der EZB-Strategie“ ("Devaluation of the saved money – chances and risks of the ECB strategy") that took place in the Senatssaal of the European University Viadrina. At the beginning Professor Stadtmann held a lecture.
The evaluation of the courses “Makroökonomie”, “Macroeconomics” and “The Law and Economics of European Competition Policy” are now published under Evaluation of Teaching. We would like to thank all students who assisted in the evaluation!
This was the topic of a presentation of Viadrina lecturer Prof. Dr. Georg Stadtmann in front of approx. 50 members of the association „Brandenburger Ingenieure und Wissenschaftler e.V.“, local branch Eisenhüttenstadt on 27.11.2014.
In a current contribution Prof. Dr. Karl-Heinz Moritz and Prof. Dr. Georg Stadtmann examine whether an expansionary fiscal policy in Germany can lead to a stimulation of the economy in the crisis-ridden peripheral countries of the monetary union. Thus, an up-to-date issue of the European economic policy is taken up. Based on different theoretical approaches it is shown that this policy is wrong: On the one hand, the growth impulse in Germany would encounter full capacity utilization, so that an increase of the German GDP will be unlikely. Furthermore, it should also be taken into account that the exchange rate to the non-EMU countries could also react. An appreciation of the euro would neutralize the expansionary effect on the German GDP. An appreciation of the euro would also cause the peripheral countries to fall even further behind, thus, Germany's expansionary fiscal policy seems to be the wrong way. If, for example, one wants to help people of Greece then financial transfers from Germany to Greece seem to be a more direct way to moderate the effects of the crisis. Another alternative could be a less restrictive fiscal policy of the crisis countries.
Deutsche expansive Fiskalpolitik - eine Hilfe für die Krisenländer? (mit K.H. Moritz), Das Wirtschaftsstudium (WiSu), Vol. 43(7), 2014, 901 - 906.
With a successful disputation of his dissertation topic "Analysing European Countries‘ Unemployment Trends with Okun’s Law" Oliver Hutengs was now awarded a doctorate (Dr. rer. pol.) as the first research assistant of the Chair. Congratulations!
The Chair's report for winter semester 2013/14 and summer semester 2014 is now available for download (in German).
In the framework of the Summer Festival the student body of the faculty of Economics organized a game without limits under the title „Beat the prof“. Prof. Dr. Georg Stadtmann took on the challenge of competition against Markus, a student in his second semester.
The module was ultimately offered in winter semester 2013/2014. In the future you can offset this module with any module which is part of the optional modules of "European Economics" within the scope of the Bachelor's programme International Business Administration.
On the 1st of May 2014 it is the 10th anniversary of the Eastern European expansion. It is time for an interim conclusion. An interesting article on this topic can be found here.
finally the time has come: Viadrina was accepted as a member of the Case Centre and thus we are now able to join the illustrious group of distinguished Business Schools. Here the list of all participating schools.
Furthermore, our first case study is now also online and will surely be advertised in the next newsletter to all institutions. Once a year one gets a list of how often the case was used in other schools. I am excited and will report on it when the time comes.
If someone is interested
- in writing own cases and offer these to the Case Centre
- or in participating in a seminar on "Writing a case study" or "Use of case studies in the teaching"
then you can contact me.
Best regards + good luck
The Chair of Macroeconomics successfully participated in tha last tender round of DPWS with a project on youth unemloyment. With regard to youth unemployment there were very different developments in different European countries. While in Germany there are no major differences between the development of youth unemployment and the general development of unemployment rates, in other EU countries the younger generation is much more exposed to the economic development. The researchers of the Chair are already dealing with this phenomenon for a longer time. Prof. Dr. Georg Stadtmann explains: „Now we will try to place a special focus on the German-Polish comparison. In a first phase Poland overcame the world economic crisis relatively well. But now there are clear impacts on the labor market.“ Oliver Hutengs is also glad: „In the near future I will - hopefully successfully - complete my dissertation project on the unemployment in Europe. I am glad that this research can now be continued due to the financial support of DPWS. Maybe I still can familiarize my successor with the topic.“
In November 2013 a delegation of the university in Pskov visited Viadrina in order to explore the possibilities of a teaching cooperation in the field of economics. Together with International Programs, Professor Keiber (Finance) and Professor Stadtmann (Macroeconomics) one assembled and exchanged views on teaching concepts and contents. It soon became clear that there is a big overlap with regard to contents and thus, for a start, an exchange of teaching materials in form of module descriptions, exams and online tutorials was agreed upon. This exchange has already taken place and for the year 2014 there are further visits at the Viadrina and in Pskov palnned. In the framework of these stays co-teaching modules shall be implemented. Pskov (in German also Pleskau) is a large city in the northwestern Russia with approx. 200.000 inhabitants, it is located about 290 km southwest of Saint Petersburg and close to the border of Estonia.
The Chair of Macroeconomics was awarded by the journal Das Wirtschaftsstudium (WiSu) with the award "Prof-Homepage of the month" for its excellent homepage.
Prof. Stadtmann: "A cordial thanks to all persons involved in the maintenance of the homepage and in the preparation of the reports and pictures. Let us continue this also in the next year and give all students, staff and interested externs insights into our research and teaching."
On the 29th of November the first German-Polish founding conference „Venture Across“ will take place in Frankfurt(Oder)/Slubice and you are cordially invited to this event. The program includes: exciting presentations, interactive workshops, pitches, speed-networking as well as a closing party with live music.
Within the scope of the course "Angewandte Wirtschaftstheorie" two speakers of practical experience, Prof. Dr. Hans Richter (chairman of GFWW) and Dr. Klaus Kalberlah (CEO of Eurosun Solar), visited Viadrina on 14th of November.
On 01.11.2013, Mr. Kourosh Khanloo from Forex Capital Markets Ltd. (Berlin) served as a guest speaker in the lecture Applied FX Trading organized by Viadrina professor Georg Stadtmann. The overall topic of his course was B|Orders in Motion – The FXCM trading platform. He gave a very good introduction and an excellent overview of this powerful trading tool. The talk was closely related to the overall research and education theme B|Orders in Motion of the European University Viadrina. Khanloo talked about the different styles of market orders such as Market Range or At Best Orders which give you either price certainty or execution certainty. Hence, these two different order types vary with respect to the permeability of the order. So called Entry Orders are not executed directly, but only after the market rate crosses the border defined by the trader. In this respect we will learn to distinguish Limit Entry and Stop Entry Orders. We will also learn how we can modify or cancel entry orders.
The picture was taken during the Global Finance Conference that took place at the Trinity College in Dublin.
At the site of the coal-mine Zollverein 30 years ago the coal was mined. Today, this site is a UNESCO world heritage. It is used as an event site as well as a museum. Instead of polluted air you can breathe clean air - the Ruhr area is nowadays the most green metropolitan region in Germany. The structural change happens here live and also the Real Estate Economics Workshop took place here on 12th and 13th of September 2013.
Beginning with the winter semester 2013/2014 there is an obligatory registration period for each exam of an examination period (end of the 1st block, end of the 2nd block, follow-ups) during which you have to register for all exams of the relevant examination period. For the winter semester the registration periods can for example look as follows:
- For the exams at the end of the 1st block: the first two weeks in November
- For the exams at the end of the 2nd block: the last two weeks in January
- For the follow-up exams: the last week in February and the first week in March
In the issue of the Märkischen Oderzeitung from 22.08.2013 there is a report on the research of the Chair on the theory of the industrial life cycle. This topic is currently of a special importance for Frankfurt (Oder) since the solar industry is affected by a massive "shakeout".
The students of the Economics department at the European University Viadrina Frankfurt (Oder) have chosen their favourite professor. The first winner of the newly-created "ProfAwards" is Prof. Georg Stadtmann. The goal is to make the evaluation of the lecturers more transparent and at the same time to create incentives for an improvement of the courses. The selection was based on three criteria: Knowledge transfer, use of media and student support.
After a magnificient run in May now the last receipts could be posted and a billing generated. Overall, an amount of 600,- € was transferred to the Study Support Organization Passo Fundo. Once more many thanks and great praise to the whole organizing team.
Economics professor Georg Stadtmann describes in the MOZ series "Woran ich arbeite" ("What I am working at"), his reasearch on the youth unemployment in the European Union.
The Chair of Macroeconomics takes part in the B|Orders-in-Motion-tender with an application for the funding line 1. With regards to the contents it is an interdisciplinary project on the research of real estate sectors in Europe and their influence on the economies. The application is supported by the professors Dreger, Keiber and Lowitzsch. For your information and for a higher transperency of the procedure the application can be downloaded as PDF document. I wish you a pleasant reading.
The Chair's report for winter semester 2012/13 and summer semester 2013 is now available for download.
In preparation for a workshop in the Ruhr region city Essen Prof. Dr. Stadtmann made an excursion to the former pit of the coal-mine Zollverein. The shut down coal-mine was a central location of the European capital of culture and now houses several museums, restaurants and seminar rooms. Further information about the UNESCO world heritage site can be found at www.zollverein.de. In September 2013 a workshop on real estate economics that is organized together with University Essen and the Helmut-Schmidt-University Hamburg shall take place on this site.
On Wednesday, the 8th May 2013, at 7 p.m. it's time again: ViaRunning is on the schedule and the three departments are competing with each other in a track racing on a two by two kilometres run-out. The department that is able to mobilize the most runners wins. A barbecue stand takes care of the physical well-being, a band takes care of the musical entertainment. The entry fee of 3 € (4 € without prior application) will be donated to a Brazilian Studies Organization Passo Fundo. Please apply per e-mail to email@example.com: Just state in the subject line your departement as well as your first and last names.
Viadrina-Professor Georg Stadtmann is checking the facts in the broadcast "hartaberfair" by ARD on 25.03.2013: The cas of Cyprus - who can still be trusted in Europe?
The burdens are more unfairly distributed than expected: While young people fight for their jobs, older people are hardly affected.
Original study: Age effects in Okun's law within the Eurozone, O. Hutengs, G. Stadtmann, Applied Economics Letters, Vol. 20, Iss. 9, 2013.
Free Working Paper.
The Polish researcher Aneta Hryckiewicz (Kozminski University, Warsaw) accepted an invitation for a research stay at the Viadrina and will spend the next two weeks at the Viadrina. Mrs. Hryckiewicz is a co-author of Oskar Kowalewski (currently a DAAD guest professot at the Viadrina) and has already published various papers and working papers together with him. Aside from discussions about the research we will also intensely exchange views on International Banking. The staff members of the Chair of Macroeconomics wish a pleasant teaching with regard to forms and contents during the stay and a productive time at the Viadrina.
In the framework of the project "Research cooperations with Baltic See states" a third event took place. After a successful start in Sønderborg at the University of Southern Denmark and a further event at the Viadrina, now Oskar Kowalewski took the lead and organized a colloquium at the Kozminski University in the field of International Economics & International Banking.
That borders are in motion also in China Professor Georg Stadtmann could witness first hand on the occasion of a conference participation in Shanghai. If you are standing at the waterside promenade of Pudong, there is the old building of the former British district behind you. The old clock in the toll building gives a stroke of the bell every quarter of an hour that is not inferior to Big Ben. According to a legend this stroke of the bell protects the city from the fires: The superstitious Chinese believe that the fire god spares the city because he mistakes the constant tinkling for fire alarm and thus preserves the city from further disaster.
The Rudolf v. Bennigsen-Foundation for Science and Education offers in the context of the MBA-Program in 2013 as well as in 2014 a partial scholarship for female participants from a CEE-state. Dr. Hans-Georg Lilge – the head of the MBA-Program – and Prof. Dr. Georg Stadtmann express their sincere thanks for this support. „We have a splendid program which is very well-positioned concerning the contents and competitive on the market. It is wonderful that our work was honored and it shows that the MBA-Program is worthy of promotion.“
The CEO of the Frankfurter branch of Conergy AG came to European-University Viadrina and lectured in the framework of Prof. Stadtmann’s course Angewandte Wirtschaftstheorie on the situation in the photovoltaic industry. He gave insights into the tremendous cost pressure within the industry which was triggered by a considerable price decline: „If prices for completed modules decline by more than 40 % in 2011 it cannot be made up for by raising productivity. Then there must be a consolidation in a wider context“, explains he the competitive situation in the industry and the consequences for his company. But what is in turn the reason for the enormous price decline? Starke makes considerable overcapacities on the market responsible for this development: If the supply is greater than the demand the price decreases!
State Secretary Dr. Bernhard Heitzer puts his guest lecture at the Viadrina under this motto. Dr. Heitzer gladly accepted the invitation of Viadrina professor Georg Stadtmann and met the Frankfurter student body in the fully occupied Audimax.
Together with Helmut Schmidt, Vaclav Klaus and Arnulf Baring, among others, the members of the Chair pursue the question concerning the future of the monetary union. They examine in their article how different European labor markets absorb shocks. It appears that a symmetric GDP-shock leaves traces of a varying degree on the labor markets in different countries – with respective consequences for the social systems. Thus, even symmetric shocks trigger asymmetric reactions.
In the year 2012 the Chair of Macroeconomics again used the opportunity to gather the Economics students of Viadrina to „Meat and Greet“. This yearly tradition of meeting at the beginning of the winter term gives newcomers and “old hands” as well as professors and research assistants the opportunity to become more familiar with each other. As in the past years, Prof. Stadtmann started the social circle with an introductory presentation in the lecture room and introduced himself and of course also the studies at the Viadrina.
Where can the permeability of borders be better explained than in the Wall Museum at Checkpoint Charlie in Berlin? Directly at the first exhibit - a rebuilded VW Beetle - you begin to sense what hardships the people have gone through in order to overcome the Wall.
At the right of the picture: Morten Skak (University of Southern Denmark) explains the Five Finger Development Plan in the region around Copenhagen: The fingers can be covered by buildings, between the fingers green spaces for recreation shall remain.
What is the importance of the crossborder trade on the German-Danish border and which influence does it have on the economy structure on both sides of the border?
The Chair of Macroeconomics offers students the possibility to acquire the necessary Soft-Skill ECTS through common group work (3-4 students). Three projects are provided for selection: Organization of ViaRunning, creation of a Bachelor graduates' brochure and the design of university merchandise.
The results from the 15th round of the WiWi-Talents program are in. Out of the over hundred applications 12 talented students were taken into the program.
WiWi-Talents gives its thanks: "Your expert opinion is a very important selection criterion for the acceptance in our talents program, therefore we would like to thank you sincerely for your support. We will be pleased if you could recommend your most talented students also for the next round of our talents programm. We would like to honour your commendable support for a sustainable and career-enhancing program with the WiWi-Talents logo. This logo is a special recognition for those Chairs that support their
talents and set a good example for countering the shortage of highly skilled people."
This year again Oderknirpse visited Viadrina and were happy about the lecture of Prof. Dr. Stadtmann.
The Chair of Macroeconomics offers an interesting project for a research cooperation with the company 50 Hertz Transmission, which is headquartered in Berlin. 50 Hertz is one of the biggest German transmission network operators and provides electricity for millions of households and companies.
They search for a Master student with knowledge in empirical research who is interested in a cooperation with a leading company. The project work is refunded.
Viadrina-professor Georg Stadtmann invited a colleague from Würzburg, Professor Bofinger – a member of the German Council of Economic Experts –, in order to discuss the crisis in Europe. At first, Bofinger introduces to the still young second-term students the basic problems of macroeconomis...
In the framework of the Junior studies the pupils from the senior years of secondary school have now the possibility to participate in selected courses and to acquire a certificate which is recognized for the studies later on. In the upcoming summer semester the economist Prof. Dr. Georg Stadtmann explains the causes of unemployment, business cycles and inflation in his course „Introduction to Macroeconomics“.
Federal Ministry of Education and Research is funding the research activities of the Chair of Macroeconomics. Within the scope of the Federal Government's strategy for the internationalization of science and research the Ministry supports the establishment and expansion of innovative R&D networks with partners in the Baltic Sea region.
Prof. Dr. Georg Stadtmann explains: „This financial support offers the possibility to expand the existing research collaborations, for example with the University of Southern Denmark. Furthrmore, a collaboration with a Polish partner shall be strengthened as well. With regards to content, on the one hand, the focus will be on the PhD training. On the other hand, a possibility of an application of an international syndicated research shall be explored with regards to different concrete research topics (wind energy, oil price development).“
As in the past year, the chairs of the FINE-track invited their students to a New Year's reception in January 2012. Afterwards, the discussions continued in a familial circle and the students had the opportunity to get to know their professors in a relaxed atmosphere.
Within their annual report the Academic Support Organization Passo Fundo gratefully thanks all runners of the Viadrina who took part in this year's ViaRunnung. The organisation awards scholarships to indigent Brasilian Students who in return try to help their urban district. More Information under www.passofundo.de or in the annual report.
Within the framework of the lecture „Applied Economics“ Prof. Dr. Georg Stadtmann invited one of the founders of the young Berlin startup “Kochhaus”, Max Renneberg, for a guest lecture at the Viadrina. Kochhaus is a grocery which is all about you doing the cooking; therefore, the edibles are being sorted according to recipes. The first shop was opened in September 2010 in Berlin/Schöneberg.
2nd edition of "Meat & Greet"
On 19.10.2001 the second edition of the popular „Meat & Greet“ event took place at the Viadrina; again students of Economics from all semesters were given the opportunity to meet their professors for an informal exchange.
Rosemarie Koch (30), former doctoral researcher at the Chair of Macroeconomics, has been announced Professor in Business Studies with focus on Financial Management, Controlling & International Laws at the University Rhein-Waal. Belonging to the faculty of Communication & Environment, Professor Koch will mainly contribute to the BA studies “International Business & Social Sciences”; teaching will be held in English.
The university Rhein-Waal was announced victorious in an entrepreneurial competition held by the government of the state Nordrhein-Westfalen in order to found a new university. Having opened in 2009, the university now accommodates around 700 students, enrolled in four faculties: Communication & Environment, Technologie & Bionics, Life Sciences and Society & Economy. In the future the university is supposed to accommodate up to 5000 students, attracting them especially thanks to the international focus (70% of the courses are being held in English).
The Faculty of Business and Economics therefore sincerely congratulates Prof. Koch and wishes her all the best in her new position.
Evaluation of teaching (Summer Semester 2011) published
The evaluation of the courses “Makroökonomie” and “Macroeconomics” are now being published under Evaluation of Teaching.
Dr. Rosemarie Koch successfully defended her doctoral thesis on “Aufsätze zur Vorstands- und Aufsichtsratsvergütung in Deutschland”. In her thesis Ms. Koch dealt with various forms of compensation for institutions in Germany; several articles of the cumulative dissertation have been published in both national and international journals.
For her private and academic future the Chair of Macroeconomics wishes Dr. Koch all the best.
In the future the research of the Chair of Macroeconomics at the Viadrina will be supported by the “Stiftung Geld und Währung” (Foundation of Money and Currency) of the German Federal Bank. In cooperation with Prof. Christian Pierdzioch of the University of the German Federal Armed Forces in Hamburg the Chair will research the topic of development of expectations in various financial markets.
Herding von Prognostikern: Eine empirische Analyse von Devisen- und Goldmärkten
We therefore sincerely want to thank the German Federal Bank for enabling this project.
For a second time Prof. Dr. Georg Stadtmann invited children aged between 5 and 6 years for a “lecture” at the university. The kids took part excitedly in a quiz and are already looking forward to returning next year.
During the „Campus for Finance“ Conference at the WHU – Otto Bensheim School of Management – the Strategy Research Network (SRN) has organized a New Year’s Dinner. Nobel Laureate John Forbes Nash Jr. provided the highlight of the evening with his Dinner Speech.
Georg Stadtmann: “For all involved it was impressive; every business student knows the Nash Equilibrium. So it’s great meeting this genius in person.”