The Chair of Political Economy applies the methodology of economics to general political issues and seeks to explain and to analyze political and economic decision-making processes and their results. The research activities at the Chair of Political Economy are based on the methodology of the New Political Economy, the Public Choice Theory and on recent Political Economy literature as well as the economics of employment markets.
The Public Choice Theory comprises those theories and research areas that explain political behavior, decision-making processes and structures through the methodology of economics. In doing so, the focus lies either on individual political protagonists and/or on political protagonists within collectives, such as voters, administrations, parties and associations. Among other things, the Chair conducts research on the evolution of revolutions and political transitions, the economic analysis of incentives in autocratic regimes, and the interactions between political and economic institutions in promoting prosperity.
The economics of employment markets is concerned with all aspects of individual and collective work. In detail, research on employment markets and wage development, on unions and wage agreements, on labor conflict as well as on employee participation is conducted.