Titlebook: Political Economy; An Institutional and Christian A. Conrad Textbook 2020 The Editor(s) (if applicable) and The Author(s), under exclusive

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ther disciplines such as psychology and sociology.With case This textbook takes a new approach to political economy: it combines the well-known non-quantitative theories with the findings of behavioral science and other disciplines such as psychology and sociology. The question of how people behave

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the results are presented in summaries and conclusions. Case studies provide a link to practice. By means of exercises and behavioral games, readers can apply and deepen their acquired knowledge.978-3-658-30883-4978-3-658-30884-1

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International Financial Markets,regulation of the financial markets has been urged by politicians and economists since the onset of the 2007 financial crisis. What has happened in the meantime? Were the right reforms implemented or could there be another financial crisis? After analyzing the causes of the crisis, the main reforms are examined below.

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Modeling the Image of Man,This chapter analyzes human behavior in the economy. What motivates people, what goals do they pursue and what makes them happy? We need the insights gained to explain unethical behavior and to move people to ethical behavior.

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The Functioning of Market and Competition,After familiarizing ourselves with the image of man and the basic tenets of political economy, we will now analyze the functions of the market and competition as the basis of our market system. We will show that the market and competition provide an allocation-efficient result and thus a welfare optimum.

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Business Cycles Policy,Economic fluctuations, above all as fluctuations in demand, are a major problem for people and businesses and can only be influenced to a very limited extent by economic policy. In the following lecture section, we will analyze the economic phenomenon and the effects on the economy and show the reasons for cyclical fluctuations.

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Solutions to the Exercises,This chapter presents the solutions to the exercises in the previous chapters of this book.