Foundations of Law and Business

Module 1

Foundations of Law

Prof. Clifford Larsen, Dr. Dr. Adem Koyuncu, Prof. Dr. Jörn Axel Kämmerer

The legal systems of different countries resemble each other in some ways, for a variety of reasons, including common legal heritages, there are several efforts to achieve international harmonization of laws, and others. However, there remain significant differences in legal systems. Attorneys and businesspeople are often unaware that the legal structures and concepts that they take for granted in their home countries are not shared elsewhere.  An awareness of these similarities and differences is particularly important for businesspeople and attorneys working in the international arena.

The Foundations of Law module considers a number of topics, an understanding of which is of significant practical use to businesspeople and attorneys. Through the analysis of a hypothetical case in three different legal systems, the Comparative Law section of the module considers the differences and similarities in the concepts, organization, and functioning of national legal systems.  Unlike much comparative law instruction, this module section analyzes not just directly relevant substantive law, but also other legal principles that can be decisive in any given situation. These principles include procedural law generally, the (non) availability of discovery, and the compensation of attorneys.  This module section is "team-taught" by two lecturers, who come from and are admitted to practice in different jurisdictions.

The EU section of the module covers the foundations, the institutional structure, the powers, and the guiding rules of the European Union as one of the largest economic players, whose legal order plays a prominent role in international business. Following an introduction to the Union’s legal foundations and institutions, the course will focus on the “internal market” as the core of the Union and specifically on the freedoms they convey for the transfer of goods, services and capital and the free movement of persons and, if appropriate, have a sideways glance at Brexit

A “moot court” exercise highlights the intersection of legal principles with the actual work of practicing attorneys. This exercise provides both lawyers and businesspeople the valuable experience of preparing for court proceedings or acting as an appellate judge.


Cost Accounting

Prof. Dr. Matthias Meyer

Information provided by cost accounting is crucial for making rational decisions and controlling activities. Therefore, it is fundamental for understanding management in modern corporations. The course offers a comprehensive introduction to the basics of cost accounting. More precisely, it will provide an overview of essential concepts and tools of cost accounting. Students’ understanding will be deepened by giving practical examples.


Financial Reporting

Prof. Dr. Rolf Uwe Fülbier

This course provides a comprehensive introduction to financial accounting and reporting. Basic accounting techniques, the legal environment for accounting in Europe and Germany, the institutional and conceptual framework of accounting and, finally, accounting for specific issues such as intangibles, provisions or financial instruments are explored in this course. Participants gain a deeper knowledge of the corporate communication process expressed in financial statements. Aspects of financial statement analysis are also discussed to better understand the impact of financial data on firm contract partners.


Managerial Economics

Prof. Dr. Alexander Wulf

Microeconomic theory aims to explain the decision-making of individuals in a world of scarce resources. It derives implications which help us understand the functioning of markets and the development of social organizations such as firms and governmental institutions. In the first part of this course we introduce the basic analytical tools and theories of microeconomics. The second part then analyzes market structures and the nature of competition. Throughout the course examples from law are used to illustrate the application of microeconomic theory to real world problems.