This specialisation is a relaunch of the prior BBE specialization “Interactions of Economy and Society”, whose course offer is expiring. BBE students can enrol to the new specialization “Economy and Society” from the winter term 2026/27 onwards.

a) Content of the specialization and target audience

What are the main topics of the specialization?

The economy can only be fully understood if economic actors and their decisions are embedded into society. This specialization draws on the multidisciplinary research agenda of socioeconomics, which considers social and ecological dimensions as constitutive for studying contemporary economies and includes aspects of law and politics, history and culture. It offers an introduction into the broad range of theories and applications in the social sciences, which usefully complement standard models and problem-centered approaches in economics and business studies.

Central topics are economic institutions and their variability, economic development, distribution and disparities in time and space, questions of economic and social inequality, social and environmental policy, and sustainability, as well as the potential for social-ecological reforms and transformations.

Which interests, strengths, and capabilities should applicants of the specialization have?

This specialization provides a substantive qualification in social science theories and approaches and their application to socioeconomic problems. It will be of particular interest to students who want to gain a better understanding of the variability of economic behaviour and development and be able to choose between different perspectives.

In this specialization, students learn about socioeconomic issues and approaches that deal with the complex interplay between economy and society, in which historical and cultural factors play just as much a role as political and legal frameworks. They examine problems of economic development and inequality in space and time, as well as current environmental and socio-political challenges, which are approached in historical and regional comparison, analyzed in institutionalist and political-economic perspectives, and evaluated in terms of global justice and sustainability.

Linking business and economics with other social sciences, the specialization builds on ‘Contemporary Challenges in Business and Economics’ in the introductory phase and ‘Foundations on Socioeconomics’ and ‘History of Economics and the Economy’ in the main program phase.

b) Entrance requirements

How can students enrol in this specialization?

The specialization can be completed by BBE students who are generally eligible to register for specializations. At this point, there are no specific entry requirements, and selection proceeds on a first-come, first-served basis, that is, students will be accepted in the order of their successful registration.

We presently accept a maximum 10 students per academic year. Registration is possible when slots are available. In winter terms, 10 new slots are available. In summer terms, slots are only available if less than 10 students were accepted and took courses in the preceding winter term.

Please note that once you have been accepted to this specialization, you actually have to take part and be assessed in at least one of the substantive courses to stay enrolled. This means that you should register to the ‘access to specialization’ only when you intend to complete at least one of the substantive courses in the respective semester. If you do not take part in the substantive course programme, your registration will be cancelled.

c) Courses offered and completion of the specialization

What courses does this specialization consist in?

This specialization consists in five courses of 4 ECTS each, which are specified as follows: 

Course I: Theoretical Perspectives

In this course offer, students learn to recognize various social science paradigms in the literature and identify their respective strengths and weaknesses; as well as to apply different theoretical perspectives to a variety of social phenomena and problems and use them to develop their own explanatory and interpretative approaches.

Course II: Economic Institutions

In this course offer, students learn to establish an institution-based understanding of economics as social action in the context of social structures, norms, and cultures, as well as political and legal frameworks; and to explain the relevance of institutional theory concepts for socioeconomic issues and illustrate them with reference to current economic and social developments.

Course III: Economic Development

In this course offer, students learn to describe the embeddedness of markets and the economy in historically and geographically differentiated social, political, and ecological contexts and explain the role of institutions for economic activity in these contexts; and to outline the development of the European economy in a global context as well as the causes and consequences of industrialization, market integration, and structural change throughout history; or, alternatively, to describe and analyze the very different effects of globalization in individual countries and regions, and explain the economic reasons for the geographical concentration of economic actors, illustrating this with case studies from the Global North.

Course IV: Environment and Distribution

In this course offer, students learn to use perspectives from political economy and ecology to systematically explore the relationship between the economy and the environment and relate it to issues of distribution and inequality; as well as to explain how ecological challenges can be addressed using environmental economic and political concepts and instruments, and examine existing strategies in terms of their effects.

Course V: Welfare and Sustainability

In this course offer, students learn: to apply (socio)economic theories and models (e.g., on the eco-social welfare state) to social policy issues; as well as to analyze and discuss social policy approaches against the backdrop of economic, social, and environmental sustainability concerns and evaluate them in terms of fairness, efficiency, and sustainability.

Courses I to V do not build on each other in the way that completing one is prerequisite of attending the other. Hence, all courses can be attended and completed independently from each other, notwithstanding the consecutive numbering.

How can the specialization be completed in two semesters?

The specialization can be completed in two semesters. Until further notice, all courses will be offered every semester. There are no requirements as to the sequencing of the courses, since all courses are accessible to beginners of the specialization.

Can courses completed during an exchange term substitute for courses in the specialization?

If you want to complete courses for this specialization during your exchange term, please contact the coordinators beforehand to agree on which courses at the other university may be considered equivalent to courses in the specialization. If you have already completed courses at other universities which are similar to courses in this specialization, you may equally check with the coordinators what courses they would advise you to include in an application for credit transfer.

d) Career prospects

Which career prospects do graduates of the specialization have?

• By completing this specialization, students gain essential research skills in the social sciences, which are needed in many academic professions and often also form an entrance requirement in Master’s degree programs combining economics with an interdisciplinary research orientation. Students will be able to apply the research, argumentation, and writing skills acquired to old and new socio-economic issues, and adequately use English terminology in the field of social sciences, both in terms of theoretical and empirical foundations and applications in specific areas.

• As broadly qualified economists and business scholars, graduates of this specialization will be able to work both in the public and private sector and advise practitioners and politicians. They are ideal members of multidisciplinary teams that draw on a broad array of perspectives, methods and approaches to address real-world problems and provide adequate solutions.

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