Foundations of Law and Business
Module 1
Foundations of Law
Prof. Christopher Bisping, Prof. Dr. Jörn Axel Kämmerer, Prof. Dr. Linda Kuschel
The legal systems of different countries resemble each other in some ways but differ in others. The similarities stem from factors such as common legal heritages, efforts to achieve international harmonization of laws, and others; but even similarity does not imply uniformity. Lawyers 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 lawyers 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 lawyers. The Comparative Law section of the module will focus on contract law as contracts underpin all commercial activity. It will also consider 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.
The European Union being one of the world’s largest economic powers, its laws play an eminent role in international business cooperation, transactions and competition. The EU section of the module covers an overview of the foundations, the Union’s institutions, the powers, the relationship with Member States, and the guiding principles underlying EU law (such as conferral, primacy, subsidiarity, etc.) The course will subsequently focus on the “internal market” as the core of the Union’s substantive law and specifically – assisted by leading cases of the European Court of Justice – on the freedoms it entails for the transfer of goods, services and capital and the free movement of persons (both self-employed and working). If time permits, a sideways glance will be given in this context at Brexit.
Finally, the module features a class on Intellectual Property Law. In today’s (digital) economy, intangible assets – data, information, knowledge – are crucial. These assets, as well as the legal rules they’re governed by, are fundamentally different from other goods. Moreover, the theoretical foundations of (continental) European IP law differ in important ways from those in Anglo-American countries. These differences are not merely of historical or theoretical importance but play a key role when it comes to topical issues, like the training of generative AI-models with copyright protected materials.
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.
Economics
Prof. Dr. Rainer Michael Rilke
This course offers a comprehensive introduction to key economic principles. We begin with the basics of consumer theory, exploring how individual choices shape markets. The course then examines various market structures, from perfect competition to monopolies, and considers how these different environments impact economic outcomes. Additionally, we will delve into the dynamics within organizations, including the principal-agent problem, to understand the challenges of aligning incentives between different parties. By the end of the course, students will have a strong grasp of fundamental economic concepts and a deeper understanding of the forces that drive economic behavior. This course is ideal for those seeking a solid foundation in economics.
