Modul

The assessment is carried out as partial exams (according to Section 4 (2), 1-3 SPO) of the core course and further single courses of this module, whose sum of credits must meet the minimum requirement of credits of this module. The assessment procedures are described for each course of the module separately.

The overall grade of the module is the average of the grades for each course weighted by the credits and truncated after the first decimal.

The students

• know the design criterias of market mechanisms and the systematic approach to create new markets,
• understand the basics of the mechanism design and auction theory,
• analyze and evaluate existing markets regarding the missing incentives and the optimal solution of a given market mechanism, respectively,
• develop solutions in teams.

This module explains the dependencies between the design von markets and their success. Markets are complex interaction of different institution and participants in a market behave strategically according to the market rules. The development and the design of markets or market mechanisms has a strong influence on the behavior of the participants. A systematic approach and a thorough analysis of existing markets is inevitable to design, create and operate a market place successfully. the approaches for a systematic analysis are explained in the mandatory course Market Engineering [2540460] by discussing theories about mechanism design and institutional economics. The student can deepen his knowledge about markets in a second course.

None

The total workload for this module is approximately 270 hours. For further information see German version.