The various - both existing and not anymore existing - economic systems will be described, compared, and analyzed. Sufficient attention will be devoted to the traditional dichotomy "capitalism vs socialism". But beyond that, institutional set-ups will be discussed from a variety of wider and richer perspectives.

The course will be taught entirely in English. Thus, a working knowledge of English is necessary in order to follow the course. Nevertheless, students may answer exam questions in German as well. If English is chosen, deficiencies in style or spelling will be disregarded as long as the argument is sufficiently clear.