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Business Administration


Quantitative Methods

The study of the module group "Quantitative Methods" prepares students for a career at businesses and organizations that mostly concerns statistical aspects of business administration and economics. The importance of quantitative methods in business administration and economics has, over the last few years, continually increased. Statistical methods are applied, for example, in order to describe and predict financial market developments, individual consumer behavior, demographic development and environmental risks. Due to a rapid increase of information, quantitative methods have taken on special importance to collect and evaluate data. Beyond that, the demand for well-educated graduates is constantly increasing.

In this module group, additional statistical methods are conveyed that are necessary for the analysis of data sets. To that effect, students should become qualified in order to be able to independently work on empirical problems. In that regard, our courses, lectures and seminars, that primarily take place in a small-group environment, help students to understand mathematical and statistical models, and to apply them to economic issues. To this end, students must know under which conditions a method may be applied, and they must learn to examine to what extent these conditions are met. Through the analysis of case studies, students should become qualified to come up with relevant hypotheses and, with the help of statistical methods, either to confirm or refute them. Furthermore, students are given the opportunity to familiarize themselves with up-to-date statistic software and, accordingly, to interpret results of a computer-aided data analysis. Group work reinforces social and group skills and prepares students for their future careers in fields such as, for example, risk management or statistical data analysis.