Search result: Catalogue data in Autumn Semester 2020

Management, Technology and Economics Master Information
Welcome and Introduction to MSc ETH MTEC
Montag, 14.09.2020, 14.00 h, HG E1.1 (tbc)
Elective Courses
NumberTitleTypeECTSHoursLecturers
363-0861-00LAlliance Advantage - Exploring the Value Creation Potential of CollaborationsW3 credits2GC. G. C. Marxt
AbstractThe development of new business models coping with the constantly augmenting complexity of technologies and systems as well as the ever increasing global competition force organizations to focus on close collaboration with key partners. These alliances are key value creation opportunities and constitute the core part of this lecture.
ObjectiveLearning outcomes professional competence
- The students learn and understand the management basics of inter-firm cooperation and organizational networks (business models, incl. risk, communication, etc.)
- realize the value creation potentials of alliances (added value)
- understand underlying theoretical models (Transaction cost theory, principal agent, game theory)
- Identify and understand specific forms of collaboration (Strat. All., JV, Networks, M&A, etc.)
- Apply tools hands on in real companies (in coll. with companies)

Learning outcomes methodological competence
- Writing academic papers
- Developing structured documentation of interviews
- Transferring theory directly into application
- Contributing to the learning journey

Learning outcomes social competence
- Work together with industrial partners
- Improving communication skills as basics for collaboration
- Developing and applying team work skills
- Coping with conflicts resolution in teams
ContentThe constantly augmenting complexity of technologies and systems, the increased pressure caused by competition, the need for shortening time-to-market and the thereby implied growing risks force organizations to increasingly focus on core competencies. Collaboration with external partners is a key value creation opportunity for successful ventures. This type of cooperation also has implications on daily management activities. This lecture will provide a better understanding of special requirements needed for management of cooperation issues.
Content:
- Introduction to theory and management of inter-firm collaboration and networks.
- Description of the formation, management and evolution of collaborations and networks.
- Collaborations in marketing, development, manufacturing (e.g. NUMMI).
- Special forms of collaborations: mergers & acquisition (e.g. pre- and post-merger activities, joint venture, strategic alliances (e.g. Doz & Hamel, networks, virtual communities)

Learning journey:
In an introductory lecture we will give an overview of the theoretical framework and explain the concept of the lecture (first week of semester, Sept. 19, 2019). In weeks 2-5 you will work on a first assignment on six different aspects of the underlying framework: strategy and activities, structure and process, culture and people orientation, interaction and roles, risk and trust, knowledge and learning. This first assignment will give you the basics to participate in the second part (Nov. 7+8, 2019) of this seminar. There you will present the results of the first assignment and get additional theoretical input to perform the 2nd assignment. The second assignment will be to analyze real alliance projects in the partner companies. The final lesson will be used as a best practice exchange (Dec. 19, 2019).
Lecture notes- Lecture script
- Current course material
- Harvard Case Studies
- Reader with current papers
LiteratureA list with recommended publications will be distributed in the lecture.

Classic Books:
HBR Collaborating Effectively ISBN 978-1-4221-6264 4
HBR on Mergers and Acquisitions: ISBN 1-57851-555-6
Doz, Y.; Hamel, G.: Alliance Advantage: ISBN 0-87584-616-5
Prerequisites / NoticeThe number of students participating in the lecture is limited to 30.
363-1137-00LApplied Econometrics in Environmental and Energy Economics Restricted registration - show details
It is highly recommended to take 363-0570-00L Principles of Econometrics first.
Number of participants limited to 40.
W3 credits2VD. Cerruti, N. Kumar, S. Srinivasan
AbstractThe course introduces to the most common empirical methods for the analysis of issues in environmental, energy, and resource economics. The course includes computer laboratory sessions, and covers the following broad topics: demand models, discrete choice models, empirical methods in policy evaluation, field- and quasi-experiments.
ObjectiveAt the end of the course, the students will be able to: understand the most common empirical methodologies used in environmental, energy, and resource economics; understand the problems the methodologies learnt in class aim to address; appreciate the importance of causal inference in empirical economics; read and understand the research papers in the literature; apply the empirical methods learnt in class using the software R.
ContentThe course introduces students to empirical statistical methods that have wide application in environmental, energy, and resource economics and it is divided in four blocks. The first block is a quick review of the basic econometric methodology and concepts (OLS, standard errors, logit/probit models); the second block introduces demand models like the Almost Ideal Demand System, discrete choice models, and their evolutions; the third block explores causal inference in empirical economics and the main reduced-form econometric techniques used in policy evaluation, such as difference-in-differences and regression discontinuity; the fourth block introduces field experiments, instrumental variables and quasi-experimental situations, and their characteristics.
At the end of each block there will be a computer laboratory class in which the student will learn to apply the methodologies learnt in class using the statistical open-source software R. Throughout the course, students will have the chance to work on actual data used for analysis in economics papers.
The lectures will make use of current research papers in the literature to illustrate practical examples in which the methodologies learnt in dass have been used. Students will be expected to read in advance the paper that will be explained during the lecture.
The evaluation policy has the aim to allow students to get practical experience on the econometric methodologies learnt in class. Thus, beyond a final computer exercise exam {70% of the grade), the course indudes short take­home computer exercises {30% of the grade).
As the course will be centered on econometric methods, it is recommended that students have taken 363-0570-00L Principles of Econometrics first, or have otherwise a solid knowledge of basic econometric methodologies as detailed in Part 1 of Wooldridge, Jeffrey M. (2018) lntroductory Econometrics : A Modern Approach. Seventh ed. ISBN: 978-1-337-55886-0. Knowledge of statistical software R is helpful, but not required and will be taught in the computer laboratory sessions.
Prerequisites / NoticeIt is highly recommended to take 363-0570-00L Principles of Econometrics first.
363-1081-00LAsset Liability Management and Treasury Risks Restricted registration - show details
Number of participants limited to 40.
W3 credits2VP. Mangold, M. Eichhorn
AbstractAsset Liability Management (ALM) is key to the financial success of any corporation. The goal is to develop a comprehensive understanding of the nature of corporate balance sheet and off-balance sheet positions and related profits and losses, including identification and mitigation of undue risks taken. This course is geared towards preparing students to apply these concepts in practical settings.
ObjectiveThe main learning objectives of this course are:
- develop a comprehensive understanding of the nature of corporate balance sheet and off-balance sheet positions and their respective contribution to profits and losses
- measure and assess exposures to risk factors such as interest and FX rates, equity and commodity prices, as well as liquidity events
- trading and hedging to mitigate undue risks incurred
ContentThe course is organized around a series of case studies. We will first discuss and develop an understanding of the fundamentals on different aspects of the management and risk management of the balance sheet. Using real life case studies each concept will then be directly applied and tested. In-class discussions, presentations and one written assignment are used to facilitate active and interactive learning in a stimulating environment. During the case studies students will frequently work in small groups. Therefore, the number of participants is limited to 40.

The course focuses on the application of finance concepts to the financial management of corporations and is geared towards preparing students to apply these concepts in practical settings. Executives of all sectors are expected to have a sound understanding of the content covered. As such, the course is not exclusively targeted at students who are considering a career in the financial services sector. It also recommended for students who want to work in the finance, treasury or risk area of corporates. It is also suitable for students who want to work for a consultancy firm.
LiteratureNo single textbook covers the course, below we list some useful references. Further materials will be made available to students prior to the lectures

Choudhry, M. 2012. The Principles of Banking. Wiley Finance.
Marrison, C. 2002. The Fundamentals of Risk Measurement. McGraw-Hill.
Bohn, A. & Elkenbracht-Huizing, M. 2017. The Handbook of ALM in Banking (2nd edition).
Prerequisites / NoticeParticipants should have a basic understanding of financial management, gained, for example, from prior undergraduate economics, business, or accounting studies.
363-1044-00LApplied Negotiation Seminar Restricted registration - show details
Number of participants limited to 30.

Prerequisites: Successful completion of lectures "363-1039-00L Introduction to Negotiation".
W3 credits2SA. Knobel
AbstractThe block-seminar combines lectures introducing negotiation and negotiation engineering with the respective application through in-class negotiation case studies and games.
ObjectiveIn this seminar students can expect to:

• learn more theory of negotiation and apply this learning in simulated negotiations
• have their perceptions of rationality, fairness and trust challenged through little embedded experiments
• learn to recognize and analyze negotiation contexts and interests and generate creative solutions
• learn to negotiate under pressure (with time and mandate restrictions) and experience (and potentially chair) a formal negotiation
• learn to read, analyze and present a scholarly paper
ContentThis block seminar is an extension of the course "Introduction to Negotiation" and provides more detailed insight into key aspects of the field of negotiation and negotiation engineering.

In particular,

• a series of brief lectures will outline foundational aspects of negotiation science, such as rationality, fairness, and trust, as well as the possible application of machine learning in negotiation
• three practitioners will describe lessons learnt in their negotiation domains (diplomacy, labor, and business) and allow time for Q&A and discussion
• Professor Ambühl will elucidate further current cases from his professional experience
• students will apply course input in a number of challenging simulations (ranging from simple 30 minute games to full-fledged international ten party negotiations). In each game they will be asked to represent a party and negotiate as skillfully as they possibly can within the constraints of their mandate
• each student will be assigned a scholarly paper (20 to 30 pages) between the two blocks to read. They will give a 20 minute group presentation with one or two of their peers and submit a brief reflection report after the seminar

The course size is deliberately limited (30 maximum) to enable ample opportunity to interact with the lecturers, guests and each other.
363-1051-00LCases in Technology Marketing Restricted registration - show details
Number of participants limited to 20.

Students have to apply for this course by sending a CV and an one-page motivation letter to Theresa Schachner until 23 August 2020: Link.
Additionally please enroll via myStudies. Places will be assigned on the basis of your motivation letter.
W3 credits1GF. von Wangenheim, S. Schär
AbstractThe seminar “Cases in Technology Marketing” introduces students to key concepts and tools in technology marketing and familiarizes them subsequently with the challenges that (marketing) managers face in technology intensive markets by using real life cases.
Objective1. Understanding and applying common business tools and frameworks
2. Understanding current challenges of managers in technology intensive markets
3. Defining and analyzing comprehensive business problems using the example of a leading Swiss manufacturing company (Bühler AG)
4. Developing and evaluating different alternative case solutions
5. Making decisions on case solutions, justifying and defending them
6. Transferring case solutions into practice by formulating specific instructions for the management
7. Creation of novel, innovative ideas that help the company to gain a competitive edge
8. Cooperation in teams and coordination of team tasks
9. Adequate communication to and eye-level discussions with C-level managers
ContentThe seminar “Cases in Technology Marketing” introduces students to key concepts and tools in technology marketing and familiarizes them subsequently with the challenges that (marketing) managers face in technology intensive markets by using real life cases.
Students will have to work in groups and together solve past, current and future managerial problems in the form of cases. The team member composition will rotate for each case, enabling students to foster their teamwork abilities besides the application of theoretical concepts to the applied case questions. The studetns will have to present their case solutions to the lecturer and a top executive of a leading Swiss company (details see below). Also, they will be enabled to compare their solutions with what has actually been done or is yet to be done.

The three case studies presented in this course cover real managerial issues of the Swiss manufacturer Bühler AG (Link). A Bühler top executive will present the cases and discuss the students' presentations and solutions. As such, the course allows for in-depth discussions of the real-life case solution with the C-level manager and hereby enables students to transfer their learnings from theoretical considerations to the applied field. The course will be rounded off with a day-visit to the Bühler facilities in Uzwil, Switzerland, where students will have the chance to further connect with management and discuss the acquired key concepts, tools, and case study insights on site.
Prerequisites / NoticeIn addition to course enrolment, students have to apply for this course by sending a CV and a short motivation letter until 23.08.2020 to Theresa Schachner: Link.
363-0723-00LCorporate FinanceW3 credits2GA. Kind
Abstract"Corporate Finance" is an introductory course that presents those fundamental principles of finance that find direct application in the financial decisions of modern corporations. The course is structured in three parts: (i) Corporate Finance and Corporate Governance, (ii) Investment Decisions/Valuation, (iii) Financial Policy.
ObjectiveUpon successful conclusion of the course, students will ...

1) know what corporate finance and corporate governance are about;
2) be able to price a wide array of corporate securities, assets, and projects, e.g., stocks, bonds, and options;
3) master three valuation approaches (discounted cash-flow valuation, relative valuation, and real-options valuation) and know about their applicability, their strengths, and their weaknesses;
4) know how to finance firms at different stages of their lifecycle;
5) be familiar with terms, acronyms, and concepts in the world of finance;
6) know how to relate real-world corporate events (past and current) to concepts learnt in class;
7) have increased their appeal as future manager, employee or entrepreneur by relevant knowledge in the field of finance in general and corporate finance in particular.
Content"Corporate Finance" is an introductory course that presents those fundamental principles of finance that find direct application in the financial decisions of modern corporations. The course is structured in three parts: (i) Corporate Finance and Corporate Governance, (ii) Investment Decisions/Valuation, (iii) Financial Policy.
In the following, for each of the three parts of the course, key aspects, are listed.

Part I: Corporate Finance and Corporate Governance
- Corporations and their characteristics (e.g., centralized management, limited liability, free transferability of economic claims, legal personality)
- Corporate finance and its goals (e.g., shareholder-value approach vs. stakeholder-value approach)
- Corporate governance problems and possible solutions (e.g., over-investment, under-investment, self-dealing, monetary incentives, board of directors, the market of corporate control, leverage, product-market competition)

Part II: Investment Decisions/Valuation
- Discounting and compounding
- Present value tools (e.g., perepetuities, growing perpetuities, annuities, growing annuities)
- Bond pricing and interest rates (e.g., types of bonds, term structure of interest rates, yield-to-maturity, duration concepts, forward rates, "riding the yield curve")
- Risk and return (e.g., moments of stock returns, modern portfolio theory, capital market line, systematic risk vs. unsystematic risk)
- CAPM in practice (e.g., computation of the risk free interest rate, beta, and the market risk premium; security market line)
- DCF Analysis: Cost of capital and cash flow estimation
- Relative valuation (e.g., earnings multiples, book multiples, sales multiples, fundamental drivers of multiples)
- Real options (e.g., option to abandon, option to delay, option to expand)

Part III: Financial Policy
- Corporate financing (e.g., instruments, internal vs. external financing, equity financiang vs. debt financing, crowdfunding, M&M and beyond)
- Payout policy (e.g., dividends, par value reductions, share buybacks, M&M and beyond)
Lecture notesSlides in English (and any other relevant material) will be available for download on the following website: Link
LiteratureFor the exam, only the material provided will be relevant.
However, interested students may refer to the following textbook for an alternative, or a complementary, reading:

Brealey, Richard A. / Myers, Stewart C. / Allen, Franklin (2017): Principles of Corporate Finance, 12th Edition / Global Edition., New York: McGraw Hill - Hill Book Co.
363-0393-00LCorporate Strategy Information Restricted registration - show details
Due to didactic considerations, the number of participants for this course is limited to 45.

Please register through myStudies to enroll for the course. Slots are assigned on a first-come first-serve basis (in the order of the registration date on myStudies). We will confirm your registration by e-mail. If you have any inquiries about the course, please contact the course assistant.
W3 credits2VS. Ben-Menahem
AbstractThis course focuses on the challenges in managing multi-business corporations, and covers topics related to the vertical and horizontal scope of business activities.
ObjectiveThe course is a combination of lectures about concepts/methods, guest lectures, case studies, and individual assignments.
ContentLarge- and medium-sized corporations play a central role in the economic activity of most developed and developing countries. Many of these organizations perform multiple business activities in multiple markets. In the face of increasing international competition, globalization, technological development, deregulation, and the emergence of new markets and industries, operating such a portfolio of business activities poses important managerial challenges forcing corporations to continuously re-consider their vertical and horizontal scope and boundaries.

The course Corporate Strategy draws from a wide range of theories and methods to develop an understanding of the conceptual frameworks, debates, and developments concerning decisions associated with the management of multi-business corporations. We will cover the key questions driving a firm's corporate strategy, including:

- In what markets to compete with which businesses?
- Which activities should be performed by the firm and which should be outsourced (i.e. "make" or "buy" decisions)?
- What are the most appropriate approaches to growth and divestiture?
- How do institutional forces impact corporate strategy?

Specifically, we will examine how organizations manage their portfolio of business activities and markets to achieve competitive advantage through vertical integration, cooperative strategies such as strategic alliances and joint ventures, corporate diversification, mergers and acquisitions, divestitures, and globalization/international strategies, and strategic renewal.

The course homepage can be found at: Link
Prerequisites / NoticeHaving participated in the course Strategic Management by Prof. Georg von Krogh/Dr. Stephan Herting is an advantage but not a requirement.
363-1065-00LDesign Thinking: Human-Centred Solutions to Real World Challenges Restricted registration - show details
Does not take place this semester.
W5 credits5GS. Brusoni
AbstractThe goal of this course is to engage students in a multidisciplinary collaboration to tackle real world problems. Following a design thinking approach, students will work in teams to solve a set of design challenges that are organized as a one-week, a three-week, and a final six-week project in collaboration with an external project partner.

Information and application: Link
ObjectiveDuring the course, students will learn about different design thinking methods and tools. This will enable them to:
- Generate deep insights through the systematic observation and interaction of key stakeholders (empathy).
- Engage in collaborative ideation with a multidisciplinary team.
- Rapidly prototype and iteratively test ideas and concepts by using various materials and techniques.
ContentThe purpose of this course is to equip the students with methods and tools to tackle a broad range of problems. Following a Design Thinking approach, the students will learn how to observe and interact with key stakeholders in order to develop an in-depth understanding of what is truly important and emotionally meaningful to the people at the center of a problem. Based on these insights, the students ideate on possible solutions and immediately validated them through quick iterations of prototyping and testing using different tools and materials. The students will work in multidisciplinary teams on a set of challenges that are organized as a one-week, a three-week, and a final six-week project with an external project partner. In this course, the students will learn about the different Design Thinking methods and tools that are needed to generate deep insights, to engage in collaborative ideation, rapid prototyping and iterative testing.

Design Thinking is a deeply human process that taps into the creative abilities we all have, but that get often overlooked by more conventional problem solving practices. It relies on our ability to be intuitive, to recognize patterns, to construct ideas that are emotionally meaningful as well as functional, and to express ourselves through means beyond words or symbols. Design Thinking provides an integrated way by incorporating tools, processes and techniques from design, engineering, the humanities and social sciences to identify, define and address diverse challenges. This integration leads to a highly productive collaboration between different disciplines.

For more information and the application visit: Link
Prerequisites / NoticeOpen mind, ability to manage uncertainty and to work with students from various background. Class attendance and active participation is crucial as much of the learning occurs through the work in teams during class. Therefore, attendance is obligatory for every session. Please also note that the group work outside class is an essential element of this course, so that students must expect an above-average workload.

Please note that the class is designed for full-time MSc students. Interested MAS students need to send an email to Linda Armbruster to learn about the requirements of the class.
363-1135-00LDigital Health Project Restricted registration - show details
Number of participants limited to 30.
W3 credits2VT. Kowatsch
AbstractToday, we face the challenge of chronic conditions. Personal coaching approaches are neither scalable nor financially sustainable. The question arises therefore to which degree Digital Health Interventions (DHIs) are appropriate to address this challenge. In this lecture, students will learn about the need, design, implementation and assessment of DHIs.
ObjectiveThe increasing prevalence of chronic conditions leads to the important question on how to develop evidence‐based digital health interventions (DHIs) that allow medical doctors and other caregivers to scale and tailor long‐term treatments to individuals in need at sustainable costs. At the intersection of health economics, information systems research, computer science, and behavioral medicine, this lecture has the objective to help students and upcoming healthcare executives interested in the multi‐disciplinary field of digital health to better understand the need, design, implementation, and assessment of DHIs. After the course, students will be able to…
1. understand the importance of DHIs for the management of chronic conditions
2. discuss the opportunities and challenges related to DHIs
3. better understand the design, implementation and evaluation of smartphone‐based and chatbot‐delivered DHIs.
ContentThe promise of more personalized, patient‐centered and outcomes‐based healthcare is real, worthy, and within reach (Harvard Business Review, October 2019), Industries like healthcare are quietly adopting chatbots to free up busy professionalsʹ time and offer guided, personalized experiences to consumers (CB Insights, October 2019), Digital health companies raised a total of $4.2B across 180 deals through the first half of 2019. If this pace holds steady, the sector is on track for an $8.4B year in 2019 ‐ and may even top 2018ʹs record‐breaking annual funding total. (Sean Day, Rocket Health, 2019 Midyear Digital Health Market Update)

Today, we face the challenge of dealing with the specific characteristics of chronic conditions. These are now responsible for around 70% of all deaths worldwide and are associated with an estimated economic loss of $7 trillion between 2011 and 2025. Chronic conditions require an intervention paradigm that focuses on prevention and lifestyle change. A corresponding change in lifestyle is, however, only implemented by a fraction of those affected, partly because of missing or inadequate interventions or health literacy, partly due to socio‐cultural influences. Individual personal coaching of these individuals is neither scalable nor financially sustainable.

Against this background, the question arises on how to develop evidence‐based digital health interventions (DHIs) that allow medical doctors and other caregivers to scale and tailor long‐term treatments to individuals in need at sustainable costs. At the intersection of health economics, information systems research, computer science, and behavioral medicine, this lecture has the objective to help students and upcoming healthcare executives interested in the multi‐disciplinary field of digital health to better understand the need, design, implementation, and assessment of DHIs. After the course, students will be able to…
1. understand the importance of DHIs for the management of chronic conditions
2. discuss the opportunities and challenges related to DHIs
3. better understand the design, implementation and evaluation of smartphone‐based and chatbot‐delivered DHIs

To reach the learning objectives, students will work on the following topics:

1. Motivation for Digital Health
• The rise of chronic diseases in developed countries
• Lifestyle as medicine and prevention of chronic diseases

2. Design of a Digital Health Intervention (DHI)
• Overview of design frameworks for health interventions
• Development of a conceptual model for a DHI
• Implementation of a smartphone‐based and chatbot‐delivered DHI

3. Evaluation of DHIs
• Overview of evaluation methods and evaluation criteria for DHIs
• Evaluation of a smartphone‐based and chatbot‐delivered DHI

Course structure
The lecture is structured in two parts and follows the concept of a hybrid therapy consisting of live online sessions (which will be also recorded in Zoom) and complementary asynchronous online lessons. In the first part, students will learn and discuss the topics of the three learning modules in weekly online sessions. Complementary learning material, multiple‐choice questions, and exercises are provided online via Moodle.
In the second part, students work in teams and will use their knowledge from the first part of the lecture to develop a smartphone-based and chatbot-delivered health intervention with MobileCoach (Link), an open‐source software platform for digital interventions and ecological momentary assessments. Each team will then present and discuss the resulting digital health intervention and evaluation results with their fellow students who will provide peer-reviews. Additional online coaching sessions are offered to support the teams with the design and evaluation of their digital health intervention, and with the preparation of their presentations.
Literature1. Collins, L. M. (2018) Optimization of Behavioral, Biobehavioral, and Biomedical Interventions: The Multiphase Optimization Strategy (MOST) New York: Springer.
2. Corneta, V. P., and R. J. Holden (2018) Systematic Review of Smartphone‐Based Passive Sensing for Health and Wellbeing Journal of Biomedical Informatics (77:January), 120‐132.
3. Coravos, A., S. Khozin and K. D. Mandl (2019) Developing and Adopting Safe and Effective Digital Biomarkers to Improve Patient Outcomes Nature Digital Medicine 2 Paper 14.
4. Katz, D. L., E. P. Frates, J. P. Bonnet, S. K. Gupta, E. Vartiainen and R. H. Carmona (2018) Lifestyle as Medicine: The Case for a True Health Initiative American Journal of Health Promotion 32 (6), 1452‐1458.
5. Kowatsch, T., L. Otto, S. Harperink, A. Cotti and H. Schlieter (2019) A Design and Evaluation Framework for Digital Health Interventions it ‐ Information Technology 61(5‐6), 253‐263.
6. Kvedar, J. C., A. L. Fogel, E. Elenko and D. Zohar (2016) Digital medicineʹs march on chronic disease Nature Biotechnology 34 (3), 239‐246.
7. Michie, S., L. Yardley, R. West, K. Patrick and F. Greaves (2017) Developing an Evaluating Digital Interventions to Promote Behaviour Change in Health and Health Care: Recommendations Resulting From an International Workshop Journal of Medical Internet Research 19(6):e232.
8. Nahum‐Shani, I., S. N. Smith, B. J. Spring, L. M. Collins, K. Witkiewitz, A. Tewari and S. A. Murphy (2018) Just‐in‐Time Adaptive Interventions (JITAIs) in Mobile Health: Key Components and Design Principles for Ongoing Health Behavior Support Annals of Behavioral Medicine 52 (6), 446‐462.
363-1136-00LDynamic Macroeconomics, Innovation and Growth
Students who have successfully completed the course "Dynamic Macroeconomics" (364-0559-00L) or
"Economics of Innovation and Growth" (363-0562-01L) can not register for this course.
W3 credits2VH. Gersbach
AbstractIntroducing dynamic models and workhorses in macroeconomics, understanding the role of innovation and institutions for economic development and discussing policies to foster innovation and economic growth, with a perspective on how digitization and artificial intelligence will affect our economies.
ObjectiveAfter the course, students will be familiar with dynamic general equilibrium theory and the basic workhorses in macroeconomics. Participants will be able to speak the Arrow-Debreu and recursive language and apply the frameworks to interesting issues, such as innovation and growth. Moreover, students will understand how the world has developed over the last centuries and the proximate and fundamental causes of innovation and economic growth. Students will understand and apply the basic models of economic growth and will be able to identify policies to foster innovation and growth and to reduce the large wealth differences in the world. Finally, they understand how digitization and artificial intelligence will drive the economies.
Content1. Introduction

2. The Arrow-Debreu Approach and Sequential Markets

3. The Neoclassical Growth Model and the Representative Agent Model (with Mathematical Background)

4. Technological Progress and how the World has developed

5. Innovations and Growth (New Growth Theory)

6. Growth Policies and Fundamental Causes for Growth

7. Digitization and Artificial Intelligence
Literature1. Acemoglu, D. (2009): Introduction to Modern Economic Growth. Princeton University Press, Cambridge MA.

2. Stokey, N. and Lucas, R. (1989): Recursive Methods in Economic Dynamics. Harvard University Press, Cambridge, Massachusetts, United States and London, England.

3. Ljungqvist, L. and Sargent, T. (2004): Recursive Macroeconomic Theory, MIT Press, Cambridge, Massachusetts, United States and London, England.

4. Barro, R.J. and X. Sala-i-Martin (2004): Economic Growth. MIT Press.

5. Aghion P. and P. Howitt (1998): Endogenous Growth Theory. MIT Press.

6. Aghion P. and S. Durlauf (eds. 2005): Handbook of Economic Growth. Elsevier, chapter 6.

7. Romer, D. (2001): Advanced Macroeconomics. McGraw-Hill.

8. Bretschger, L. (1999): Growth Theory and Sustainable Development. Edward Elgar.

9. Romer, P. (1990): Endogenous Technological Change, Journal of Political Economy, Vol. 98(5).

10. Aghion, P. and P. Howitt (1992):A Model of Endogenous Growth through Creative Destruction. Econometrica, Vol. 60(2).

11. Lucas, R. (1988): On the Mechanics of Economic Development, Journal of Monetary Economics, Vol. 22.

12. Rebelo, S. (1991): Long-Run Policy Analysis and Long-Run Growth. Journal of Political Economy, Vol. 99(3).

13. Piketty, T. (2014): Capital in the Tewnty-First Century. Harvard University Press, Cambridge, MA.

14. Current Literature on Digitization and Artificial Intelligence
Prerequisites / NoticeStudents who have successfully completed the course "Dynamic Macroeconomics" (364-0559-00L) or "Economics of Innovation and Growth" (363-0562-01L) can not register for this course.
363-1125-00LEmpirical Environmental Economics
Does not take place this semester.
W3 credits2G
AbstractThe course introduces students to the basics of empirical research in environmental economics. We will discuss various policy instruments and study empirical methods to evaluate the efficacy of key environmental policies in the real world. Students will have opportunities to work with data and replicate important empirical findings in the literature.
ObjectiveStudents will become familiar and well-versed with (1) an empirically-oriented approach to think about environmental problems and policy instruments, (2) empirical methods widely used to evaluate the effectiveness of environmental policies and (3) be able to discuss the efficacy of key environmental policies in the real world in a critical manner.
ContentIn the first part of course, students will learn various empirical methods that are commonly used by empirical researchers. Once equipped with technical knowledge, in the second part of the course, we will discuss research papers that empirically identify environmental externalities. Topics include (1) the impact of temperature shocks on economic growth and productivity, (2) health impacts of air pollution, (3) and how environmental factors may affect other economic outcomes such as political stability, migration flows and labor market outcomes.

In the remaining part of the course, we will study environmental regulations designed to address such externalities. We will discuss papers that conduct ex-post empirical evaluations of key regulations around the world. We will see (1) how environmental regulation affects the competitiveness of industry, (2) how effective environmental polices are in inducing energy conservation from consumers, (3) firms' innovation activities in response to regulation, and finally (4) environmental regulation in the developing country context.
Lecture notesLecture slides will be provided electronically.
LiteratureFor the reading list for the course, please see the syllabus by clicking the link (Link).
Prerequisites / NoticeKnowledge in econometrics is not required; Basic knowledge in economics helps.
363-0562-01LEconomics of Innovation and Growth
Does not take place this semester.
W3 credits2Gto be announced
AbstractOverview how the world has developed. Understanding the role of innovation and institutions for economic growth. Discussion of policies to foster innovation and growth.
ObjectiveThere are three goals of the lecture. First, understanding how the world has developed over the last centuries and the proximate and fundamental causes of economic growth. Second, understanding and applying the basic models of economic growth. Third, discussion of policies to foster innovation and growth to reduce the large wealth differences in the world.
Content1. Introduction

2. Neoclassical Growth Theory

3. Innovations and Growth (New Growth Theory)

4. Growth Policy and Fundamental Causes for Growth
Lecture notesThe transparencies used in the lectures will be distributed to the participants.
LiteratureCore literature:

1.Acemoglu, D. (2009): Introduction to Modern Economic Growth. Princeton University Press, Cambridge MA.

2. Barro, R.J. and X. Sala-i-Martin (2004): Economic Growth. MIT Press.

3. Aghion P. and P. Howitt (1998): Endogenous Growth Theory. MIT Press.

4. Aghion P. and S. Durlauf (eds. 2005): Handbook of Economic Growth. Elsevier, chapter 6.


Additional literature:

6. Romer, D. (2001): Advanced Macroeconomics. McGraw-Hill, chapters 1 and 3.

5. Bretschger, L. (1999): Growth Theory and Sustainable Development. Edward Elgar.

7. Romer, P. (1990): Endogenous Technological Change, Journal of Political Economy, Vol. 98(5).

8. Aghion, P. and P. Howitt (1992):A Model of Endogenous Growth through Creative Destruction. Econometrica, Vol. 60(2).

9. Lucas, R. (1988): On the Mechanics of Economic Development, Journal of Monetary Economics, Vol. 22.

10. Rebelo, S. (1991): Long-Run Policy Analysis and Long-Run Growth. Journal of Political Economy, Vol. 99(3).

11. Piketty, T. (2014): Capital in the Tewnty-First Century. Harvard University Press, Cambridge, MA.
363-1036-00LEmpirical Innovation EconomicsW3 credits1GM. Wörter
AbstractThe course focuses on important factors that drive the innovation performance of firms, like innovation capabilities, the use of digital technologies, environmental and innovation policy and it shows how innovation activities relate to firm performance and to the technological dynamic of industries. We also discuss the implications of the findings for effective economic policy-making.
ObjectiveThe course provides students with the basic skills to understand and assess empirically the technological activities of firms and the technological dynamics of industries. In addition, the aim is to promote the understanding of the essential criteria for innovation policy-making.

Personal skills are also addressed during the course. In particular, there is the possibility to improve presentation skills, the ability to develop arguments for the positions of political representatives, policy-makers, pressure groups, or NGOs in connection with innovation policy-making.
ContentThe course consists of two parts. Part I provides an introduction into important topics in the field of the economics of innovation. Part II consists of empirical exercises based on various data sets, e.g., the KOF Innovation data, data about the digitization of firms, or patent data. In part I we will learn about ...a) market conditions that encourage firms to invest in R&D (Research and Development) and develop new products and processes. ...b) the role of universities for the technological activities of a firm (technology transfer). ...c) how technologies diffuse among firms. ...d) how the R&D activities of firms are affected by economic crises and how firms finance their R&D activities. ...e) how we can measure the returns to R&D activities. ...f) how environmental policies and innovation policies affect the technological activities of a firm. In part II we will use the KOF Innovation Survey data, patent data, data on digitization of firms, or other longitudinal data sources, to investigate empirically the technological activities of firms in relation to the topics introduced in part I.
Lecture notesWill be provided in the course
LiteratureLiterature will be presented in the course. For an introduction into the economics of innovation see G.M. Peter Swann, The Economics of Innovation - an Introduction, Edward Elgar, 2009.
For an overview of empirical innovation studies see W.M. Cohen (2010): Fifty Years of Empirical Studies of Innovation Activities and Performance, in: B.H Hall, N. Rosenberg (eds.), Handbook of Economics of Innovation, volume 1, Elsevier, pp. 129-213.
Prerequisites / NoticeCourse is directed to advanced Master-Students and PhD Students with an interest in empirical work.
363-1082-00LEnabling Entrepreneurship: From Science to Startup Restricted registration - show details
Students should provide a brief overview (unto 1 page) of their business ideas that they would like to commercialise through the course. If they do not have an idea, they are required to provide a motivation letter stating why they would like to do this elective. If you are unsure about the readiness of your idea or technology to be converted into a startup, please drop me a line to schedule a call or meeting to discuss.

The total number of students will be limited to 40. It is preferable that the students already form teams of at least two persons, where both the team-members would like to do the course. The names of the team-members should be provided together with the business idea or the motivation letter submitted by the students.

The students should submit the necessary information and apply to Link until 23 August 2020.
W3 credits2VA. Sethi
AbstractThis elective is relevant for students who have developed a technology and are keen to evaluate the steps in starting a startup. This is also relevant for students who would like to start a startup but do not have a technology, but are clear on a specific market and the impact they would like to create.
ObjectiveStudents have technology competence or an idea that they would like to convert into a startup. They are now in the process of evaluating the steps necessary to do so. In summary:

1. Students want to become entrepreneurs
2. The students can be from business or science & technology
3. The course will enable the students to identify the relevance of their technology or idea from the market relevance perspective and thereby create a business case to take it to market.
4. The students will have exposure to investors and entrepreneurs (with a focus on ETH spin-offs) through the course, to gain insight to commercialise their idea
ContentThe students would cover the following topics, as the build their idea into a business case:

1. Technology excellence: this assumes that the student has achieved a certain degree of competence in the area of technology that he or she expects to bring to the market
2. Market need and market relevance: The student would then be expected to identify the possible markets that may find the technology of relevance. Market relevance implies the process of identification of how relevant the market perceives the technology, and whether this can sustain over a longer period of time
3. IP and IP strategy: Intellectual property, whether in the form of a patent or a trade secret, implies the secret ingredient that enables the student to achieve certain results that competitors are unable to copy. This enables the student (and subsequently the startup) to hold on to the market that they create with customers
4. Team including future capabilities required: a startup requires multiple people with complementary capabilities. They also need to be motivated while at the same time protecting the interests of the startup
5. Financials: There is a need of funding to achieve milestones. This includes funding for salaries and running of the company
6. Investors and funding options: There are multiple funding options for a startup. They all come with different advantages and limitations. It's important for a startup to recognise its needs and find the investors that fit these needs and are best aligned with the vision of the founders
7. Preparation of business case: The students will finally prepare the business case that can help them to articulate the link of the technology with the market need and its willingness to pay
8. Legal overview, company forms and shareholders’ agreements (including pitfalls)

The seminar includes talks from invited investors, entrepreneurs and legal experts regarding the importance of the various elements being covered in content, workshops and teamwork. There is a particular emphasis on market validation on each step of the journey, to ensure relevance.
Lecture notesSince the course will revolve around the ideas of the students, the notes will be for the sole purpose of providing guidance to the students to help convert their technologies or ideas into business cases for the purpose of forming startups. Theoretical subject matter will be kept to a minimum and is not the focus of the course.
LiteratureBook
Sethi, A. "From Science to Startup"
ISBN 978-3-319-30422-9
Prerequisites / NoticeThis course is only relevant for those students who aspire to become entrepreneurs.

Students applying for this course are requested to submit a 1 page business idea or, in case they don't have a business idea, a brief motivation letter stating why they would like to do this course.

If you are unsure about the readiness of your idea or technology to be converted into a startup, please drop me a line to schedule a call or meeting to discuss.
363-1028-00LEntrepreneurial Leadership Restricted registration - show details
Limited number of participants.

Students apply for this course via the official website no later than August 23 (Link).
Once your application is confirmed, registration in myStudies is possible.
W4 credits3SZ. Erden Özkol, P. Baschera, S. Brusoni, T. Netland, G. von Krogh
AbstractThis seminar provides master and PhD students at MTEC with the challenging opportunity of a real case on strategy, innovation and leadership in close collaboration with the top management of a leading Swiss technology company.
ObjectiveThe general objective of the course is to enable MTEC students to develop leadership skills by dealing with real-world business problems, thinking critically about the concepts discussed in their study programs and learning how to apply these concepts to provide practical implications. It provides students with coaching and mentoring from senior leaders in the company and professors from D-MTEC to bridge the gap between theory and practice.
ContentThis seminar provides ambitious ETH students and doctoral candidates with a rewarding learning opportunity: a real case study of strategy and innovation in close collaboration with the top management of an outstanding company (TBA).

What you can expect:

You will work in teams on specific high priority assignments that flow from the company. Delving into the assignments you will both contribute to solving strategic issues and have an impact on their implementation at the company. In the different team assignments not only technical and innovative aspects but also social, ethical, HR and marketing-​relevant aspects play an important role and must be taken into account.

To gain insight into the company and its culture you will receive briefings from senior management, conduct interviews with experts and run workshops with your case managers. In the final presentations you will pitch your findings to key stakeholders and top management representatives and receive valuable feedback.

Furthermore you will be coached and supported by MTEC professors on the topics of investigation, innovation, strategy and board presentation.

The course is directed and organised by PD Dr. Zeynep Erden and Dr. Isabel Spicker as part of the MTEC Leadership Development Programme.

What we expect from you:

You are an ambitious ETH student or doctoral candidate who is looking for a rewarding learning opportunity and is eager to go the extra mile. You will work on a real case study of strategy, technology and innovation in close collaboration with the senior management of an outstanding Swiss company. The recommendations that you formulate in collaboration with members of your team as well as with internal and external experts will be discussed at the Partner and Director levels. This demands a deep understanding of the company's leadership culture.

In this endeavour you are coached and supported by

- Pius Baschera, former Chair of Entrepreneurship
- Stefano Brusoni, Chair of Technology and Innovation Management
- Georg von Krogh, Chair of Strategic Management and Innovation
- Torbjörn Netland, Chair of Production and Operations Management
- Zeynep Erden, Vlerick Business School/ D-MTEC
LiteratureLiterature and readings will be announced in the coaching sessions.
Prerequisites / NoticePlease apply for this course via the official website (Link). Apply no later than August 23.
The number of participants is limited to 15.
ECTS: 4
Participants receive a certificate
363-1037-00LFiscal Competition and Multinational FirmsW3 credits2VM. Köthenbürger, M. Stimmelmayr
AbstractThe course enables students to understand how multinational firms respond to differential tax regimes in a global economy and how countries strategically use the tax system to host multinationals. In particular, the course covers transfer pricing issues, internal financing decisions and agency problems and their relation to tax policy.
Objective- Understanding how taxes influence decisions of multinational firms

- Develop thinking about the strategic use of differential tax systems for multinational firms

- Evaluate options for governments to respond to the tax planning behavior of multinational firms

- Using theoretical models and empirical analysis to uncover regularities in how multinational firms respond to taxes
ContentMultinational firms have grown in importance in recent decades. Given that their affiliates are located in different countries, they face various tax systems. This creates complexity with respect to the operation of a multinational firm, but also offers the option to benefit from differences across various tax provisions. Starting from this observation, the course looks at how multinational firms respond to the differences in tax provisions and how governments will respond to this behavior in its choice of tax systems. Different channels how multinational firms allocate taxable profits across countries will be analyzed: transfer pricing policies, internal financing decisions and investments. A particular emphasis will be put on how agency problems within multinational firms interact with tax avoidance behavior and how they are related to tax policy.
The course has two parts: The first part of the lecture contains a detailed treatment of the different channels multinational firms can use to strategically allocate profits to low-tax countries and how the tax avoidance decision might interfere with other decisions of the multinational firm. Building on this insight, we will discuss whether governments might strategically choose to adjust its tax provisions either to benefit from the multinational firm tax-saving behavior or to protect its tax base against the tax-planning behavior. In the second part of the course, we will discuss different papers that empirically analyze the validity of the different channels we have discussed in the first part. Students select one paper out of a list of papers (to be distributed in the course) and give a short presentation of the paper (max. 30 minutes). Afterwards, we will enter a discussion of the presented paper and clarify unaddressed issues.
376-1177-00LHuman Factors IW3 credits2VM. Menozzi Jäckli, R. Huang, M. Siegrist
AbstractStrategies of human-system-interaction, individual needs, physical & mental abilities, and system properties are key factors affecting the quality and performance in interaction processes. In the lecture, factors are investigated by basic scientific approaches. Discussed topics are important for optimizing people's health, well-being, and satisfaction as well as the overall system performance.
ObjectiveThe goal of the lecture is to empower students in better understanding the applied theories, principles, and methods in various applications. Students are expected to learn about how to enable an efficient and qualitatively high standing interaction between human and the environment, considering costs, benefits, health, and safety as well. Thus, an ergonomic design and evaluation process of products, tasks, and environments may be promoted in different disciplines. The goal is achieved in addressing a broad variety of topics and embedding the discussion in macroscopic factors such as the behavior of consumers and objectives of economy.
Content- Physiological, physical, and cognitive factors in sensation, perception, and action
- Body spaces and functional anthropometry, Digital Human Models
- Experimental techniques in assessing human performance, well-being, and comfort
- Usability engineering in system designs, product development, and innovation
- Human information processing and biological cybernetics
- Interaction among consumers, environments, behavior, and tasks
Literature- Gavriel Salvendy, Handbook of Human Factors and Ergonomics, 4th edition (2012), is available on NEBIS as electronic version and for free to ETH students
- Further textbooks are introduced in the lecture
- Brouchures, checklists, key articles etc. are uploaded in ILIAS
363-0404-00LIndustry and Competitive Analysis Restricted registration - show details
Due to didactic reasons originating from the group-work based approach, the number of participants is limited to 30. First come first served by order of enrollment in myStudies.

Experience in statistical analysis with tools such as SPSS or equivalents is an advantage.
W3 credits3GV. He, Y. R. Shrestha
AbstractIndustry and Competitive Analysis (ICA) is a part of any strategy development. It contains a very practical set of methods to quickly obtain a good grasp of an industry. The purpose of ICA is to understand factors that impact on the financial performance of the industry, and as well the financial performance of firms within the industry.
ObjectiveGoals of the course
• Students develop an understanding of how the structure of industries impact on firm and industry-level performance
• Students get familiar with, and obtain practical skills in analyzing industries and firms within them.
• Students develop a broad understanding of the impact of digitalization on various industries and develop an in-depth understanding of (at least) one chosen industry
• Students improve analytical skills needed to successfully compete in the digital age
ContentIndustry and competitive analysis (ICA) is a part of any strategy development in firms and other organizations. It contains a very practical set of methods to quickly obtain a good grasp of an industry, be it pharmaceuticals, information and communication technology, aluminum, or even the beer industry. The purpose of ICA is to understand factors that influence the performance of the industry, and as well the performance of firms within the industry.
As the world has witnessed tremendous development in digital technologies, many industries are in the midst of transitioning from analogue to digital business model. Digitalization is radically changing what companies produce and way companies are run. We need a new understanding of industries and a more advanced set of analytical tools to adapt to these changes. That is why we have developed our course as ICA 2.0, which will provide an updated picture of various industries and tools for analyzing them before and after digital transformation. In this course, we will study theoretical frameworks, examine evidence from empirical research, and benefit from the experiences shared by guest speakers.


The course is organized as a combination of lectures, case studies, and tutored group work involving the selection and analysis of industries, analysis and development of strategies for selected competitors, and presentation of results.

Grades:
50% paper/industry report (group)
50% final presentation (group)
LiteratureThis course is built upon a management classic (Competitive Strategy: Techniques for Analyzing Industries and Competitors by Porter, 2004). More recent research findings and practitioner-oriented papers in the area of strategy are also included. Readings associated with each lecture should be done before the lecture day.
To access the journal articles listed below, you have to be within the ETH domain (either directly connected to the ETH network within ETH or using VPN). PDF versions of the Harvard Business Review articles are only available via the class Moodle.
Competitive strategy
• Chapter 2 of Porter (2004)
• Porter, M. E. (1996). What is strategy. Harvard Business Review. 74 (6): 61-78.
• Case study: Southwest Airlines
Industry Dynamics
• Chapter 3 of Porter (2004)
• Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard Business Review. 86(1): 78-93.
• Case study: Southwest Airlines
Strategic groups & firm membership
• Short, J. C., David J. K., Timothy B. P., & Tomas M. H. (2007). Firm, strategic group, and industry influences on performance. Strategic Management Journal, 28: 147-167.
• Harrigan, K. R. (1985). An application of clustering for strategic group analysis. Strategic Management Journal, 6(1), 55-73.
ICA in the Digital Age
• Adner, R., Puranam, P., & Zhu, F. (2019). What Is Different About Digital Strategy? From Quantitative to Qualitative Change. Strategy Science, 4(4), 253-261.
• Porter, Michael E., and James E. Heppelmann. (2015) "How Smart, Connected Products Are Transforming Companies." Harvard Business Review 93 (10): 97–114. .
• Kim, E., Nam, D. I., & Stimpert, J. L. (2004). The applicability of Porter’s generic strategies in the digital age: assumptions, conjectures, and suggestions. Journal of management, 30(5), 569-589.
• Davenport, T. H. (2006). Competing on analytics. Harvard business review, 84(1), 98.
Opportunities & Resources
• Alvarez, S. A., Barney, J. B., Anderson, P. (2013). Forming and Exploiting Opportunities: The Implications of Discovery and Creation Processes for Entrepreneurial and Organizational Research. Organization Science, 24(1), 301-317
Competitive Analysis
• Chen, H., Chiang, R. H., & Storey, V. C. (2012). Business Intelligence and Analytics: From Big Data to Big Impact. MIS quarterly, 36(4), 1165-1188
Prerequisites / NoticeDue to intensity of the tutoring format, the number of students is limited to 30 participants. Students will be accepted according to the order of enrollment in myStudies. Exchange students can register by sending e-mail to Link. if facing problems with registration to myStudies. Registration will be handled individually, case by case. E-mails that are sent before the starting date of registration to myStudies will not be accepted.
An electronic confirmation of the registration will be sent out shortly before the start of the semester, which contains an access link to the Moodle-Website of the course (readings, resources for group works, group assignment)
Note that class participation is important. Students should judge if full commitment can be made to attending the lectures before registration.
363-0585-00LIntermediate EconometricsW3 credits2VG. Masllorens Fuentes
AbstractThe aim of the course is to discuss different econometric models and their empirical applications. We will cover cross-sectional linear and non-linear regression models, models for estimating treatment effects, and linear panel data models.
ObjectiveBy the end of the course, students should understand the different existing approaches, their applicability, and their advantages and disadvantages. They should be able to read and understand regression output tables. Additionally, students will be able to apply the estimation approaches in practice using STATA.
ContentThe lectures will consist of both theoretical and practical components. In the theoretical part, we will discuss each estimation approach in detail. The lecture will present the assumptions, derivations, as well as the advantages and disadvantages of the estimation approach.

In the empirical part, we will look at simulation results using artificial data. Furthermore, we will investigate a particular research question using STATA.

The course will tentatively cover the following subjects:
- review of ordinary least squares (OLS) estimation
- instrumental variable estimation and two-stage least squares estimation
- seemingly unrelated regression models
- simultaneous equation models
- maximum likelihood estimation
- binary response models
- count data models
- censored and truncated regression models
- sample selection models
- treatment effect models
- static linear panel data models (random effects and fixed effects estimation)

For the theoretical portions of the lectures, we will prepare slides for in-class discussion. Slides will be distributed electronically before each lecture.

For the applied portion of the lectures, we will provide STATA do files, log files, and data sets.

Problem sets will also be made available after every lecture. These problem sets will not be collected or graded, but students can use them in order to prepare for the final exam. Solutions will be made available in the following lecture.

While there is no required textbook for the course, we draw from the following texts, which are also recommend for the preparation of the exam:
- Wooldridge, J.M. (2015). Introductory Econometrics.
- Wooldridge, J.M. (2010). Econometrics of Cross Section and Panel Data.
- Cameron, A.C. and P. Trivedi (2005). Microeconometrics. Methods and Applications.
- Cameron, A.C. and P. Trivedi (2009). Microeconometrics Using Stata.
- Angrist, J.D. and Pischke, J.-S. (2009). Mostly Harmless Econometrics.
LiteratureJeffrey M. Wooldridge: Introductory Econometrics; Jeffrey M. Wooldridge: Econometric Analysis of Cross Section and Panel Data; A. Colin Cameron and Pravin K. Trivedi. Microeconometrics: Methods and Applications. Joshua A. Angrist and Jörn-Steffen Pischke: Mostly Harmless Econometrics.
363-1027-00LIntroduction to Health Economics and Policy
Does not take place this semester.
W2 credits1VC. Waibel
AbstractHealth expenditures constitute about 10% of GDP in OECD countries. Extensive government intervention is a typical feature in health markets. Risk factors to health have been changing with growing importance of lifestyle factors such as smoking, obesity and lack of physical activity. This course gives an introduction to the economic concepts and empirical findings in health economics.
ObjectiveIntroduce students without prior economic background to the main concepts of health economics and policy to enhance students understanding of how health care institutions and markets function.

Please note that we will apply basic economic concepts to health care markets. Hence, master students with an economic background have to expect that a large share of the concepts will overlap with their previous courses. However, they are, of course, welcome to join the course.
ContentThe course gives an introduction to the economic concepts and empirical findings in health economics to enhance students understanding of how health care institutions and markets function. Motivated by the fact that health care markets are designed differently across countries, this course looks at the challenges in regulating health care markets. First, two important decisions of individuals will be analyzed: What types and amount of personal health care services does an individual demand? How much will health insurance coverage be purchased? In the second part, the supply side of health care markets will be discussed. What are the financial incentives of physicians, and how do these influence physicians’ treatment choices? What does it mean and imply that a physician is an agent for a patient? The choices made by societies about how health care services are financed and about the types of organizations that supply health care will be addressed in the third part. One important choice is whether a country will rely on public financing of personal health care services or encourage private health insurance markets. How could and should a public health insurance system be designed? The advantages and disadvantages of the alternatives will be discussed to provide a framework for analyzing specific types of health care systems.
LiteratureJay Bhattacharya, Timothy Hyde, Peter Tu, "Health Economics", Palgrave Macmillan.
Frank A. Sloan and Chee-Ruey Hsieh, "Health Economics", MIT Press.
Prerequisites / NoticeAlthough we apply basic economic concepts to health care questions, students should be aware that this course requires some mathematical skills in terms of maximization problems.

Please be prepared that this course might (partially) be run via zoom, depending on the situation.
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