Economic Institute of the Ruhr West University of Applied Sciences: Research, teaching & innovation

Practice-oriented teaching and applied research

Since its foundation in May 2009, the institute has set itself two fundamental goals at the university: teaching that inspires and research that drives. This is reflected in the design of Bachelor's and Master's degree programs in business administration as well as in modules with a business focus for students from the fields of mathematics, engineering, natural sciences and technology.

The business administration courses at the HRW combine technology and internationality in a unique way and reflect a close connection to the economic structure of the Rhenish-Westphalian economic area.

Research profile

The institute of Economics at the HRW conducts interdisciplinary research in the areas of applied business administration as well as special issues of international business and network economics. Basic and application-oriented contributions are made to improving the competitiveness of companies with an international business orientation. A country-specific focus of research is the so-called emerging markets. These are currently mainly emerging economies in East and South Asia, Latin America and Eastern Europe.

Interdisciplinary cooperation

The Institute of Economics works together with all other institutes of the HRW on an interdisciplinary basis, which corresponds to a comprehensive academic education. Students also learn skills that enable them to set up and manage their own company. For example, they must be able to draw up a financial plan and a sales concept, solve interface problems within the sub-disciplines of business administration and master networking with other specialist disciplines. The Institute of Economics offers corresponding courses/modules.

Fields of research

1/6

Energy and water management

Research in the field of energy and water management focuses on:

Detailed modeling of rate structures and costs in these sectors.
Analysis of efficiency and comparative studies (benchmarking) to asses performance.
In-depth studies on economic regulation and its effects.
Analysis of development trends in these important areas of the economy.
Development of framework conditions and structures to promote water management in emerging and developing countries.

2/6

Start-up and innovation research

In the area of start-up and innovation research, we focus intensively on the following aspects:

Exploring a wide range of entrepreneurial options.
Analysis of success factors and influencing factors for successful business start-ups.
Analysis of technology and market trends as well as the evaluation of new technologies.
Creative identification of new business ideas using techniques such as synectics, TRIZ and design thinking.
Development of innovative business models by applying the "Business Model Generation" methodology.
Designing effective innovation management using approaches such as open innovation, lead user integration and the blue ocean strategy.

3/6

Maintenance and Industrial Services

In the field of maintenance and industrial services, we focus on:

The interaction between people and technology in maintenance.
The role of information technology in the optimization of maintenance processes.
Predictive condition assessment and forecasting of machines and systems.
Efficient asset management to maximize asset utilization.
Holistic life cycle management of industrial resources.
Development and implementation of digital assistance systems to increase productivity and efficiency.

4/6

International Business and Emerging Markets

In the area of International Business - Emerging Markets, we focus on:

Analysis of country studies in corporate foreign trade.
Application of interculturality in business practices.
Consideration of socio-cultural aspects in the development process of emerging countries.
Examination of economic policy in industrialized and emerging countries.

5/6

Artificial intelligence from an economic perspective

In the context of this topic, we shed light on various aspects, including:

AI application in the area of controlling.
Spread and introduction of AI technologies.
Use of AI in digital assistance systems for maintenance.
Use of AI in marketing.
Predicting prices on capital markets using AI.
AI-supported personal coach for potential founders.
AI-based assistant to support the learning process.

6/6

Marketing research

Within this subject area, we research a wide range of areas, including:

Analysis of the acceptance of eco-innovations
Eye-tracking (shopper marketing research)
Customer Relationship Management
Real options valuation
Impact relationships of quality labels in the food market
Selection and purchasing behavior of families and children in the food context.

Bachelor degree courses

Bachelor of Arts (B.A.)

BWL - Energy and Water Management

Bachelor of Science (B. Sc.)

Industrial Services Management

Bachelor of Arts (B.A.)

International Retail Management and Logistics

Bachelor of Arts (B.A.)

International Business and Emerging Markets

Bachelor of Arts (B.A.)

Business Administration - Finance and Management (joint degree programme)

Master degree courses

Master of Arts (M.A.)

Business Administration - Asia Management

Master of Science (M.Sc.)

Business Administration - Energy and Water Economics

Master of Science (M.Sc.)

Industrial Service Management

Master of Arts (M.A.)

International marketing and management

Master of Business Administration (MBA)

MBA - Global Management/ HR

Scientific laboratories

The Institute of Economics operates a total of five research and teaching laboratories for different issues.

The structure and equipment of our laboratories enable practical, application-oriented teaching and research that is focused on current issues in industry.

The laboratories enable our students to put into practice and intensify their theoretical knowledge. The connection between theory and practice in later professional life is demonstrated through internships.