This seminar is aimed at Master's students of economics Professor: Prof. Dr. Bönte Research assistants: Adrian Eckstein and Markus Thomanek Registration mode: Registration via enrolment in the Moodle course

Course content

The amount of linguistic data in the form of text, audio and video is increasing rapidly. New methods for evaluating and utilizing this data enable companies and researchers to draw conclusions that were previously hidden. It is therefore not surprising that data scientists are in demand on the job market like never before - especially those who can evaluate natural language.

In this seminar, we will look at the developments that have taken place in recent years, present some important and inspiring research projects and provide you with the tools to extract and/or analyze such data yourself. Programming skills are not required for this; for automated extraction from the web (web scraping) it is beneficial to have some experience with Python, but the seminar can also be successfully completed without any programming at all.

A seminar paper is prepared and presented as an examination. This seminar paper can cover topics of entrepreneurship and innovation research as well as sustainability research.

Learning objectives

After participating in the seminar, students will be able to assess the relevance of data sources for natural language, establish connections to other economic/business variables and independently carry out smaller projects for the extraction and/or evaluation of such linguistic data.

Dates (provisional, will be adjusted in consultation if necessary):

• 24.04.2024, 12.30-16.00, room M.13.05 (CIP 1, computer room) - Introduction and NLP in economics
• 08.05.2024, 12.30 -16.00, room M.13.05 (CIP 1, computer room) - NLP in economics - overview of methods & practical application of Natural Language Processing
• 15.05.2024, 12.30 - 16.00, Room M.13.05 (CIP 1, Computer room) - Practical application of Natural Language Processing
• 13.05. - 17.05.2024 (determination of topics in individual sessions, dates by arrangement)
• 03.06. - 14.06.2024 (discussion of the current status in individual sessions, dates by arrangement)
• End of June 2024 (presentation of the preliminary results, group date by arrangement)
• End of September 2024 (submission of the seminar paper)

Crediting options

• MWiWi 6.1.4 Master's seminar in innovation and technology management
• MWiWi 6.1.8 Master's seminar Management of actions
• MWiWi 6.2.4 Master's seminar Entrepreneurship and Economic Development
• MWiWi 6.2.6 Master's seminar Economics of Innovation

Please register for participation in this Moodle course.

Please note that this seminar will be held in English. This seminar is aimed at Master's students of economics and in the summer semester 2024 also at Bachelor's students. Professor: Prof. Dr. Werner Bönte Research assistant: Andrés Felipe Zambrano Curcio (M. Sc.) Registration mode: Registration until 31.03.2024 via enrolment in the Moodle course

About the seminar:

This seminar introduces students to the emerging field of neuroeconomics, which integrates economics with psychophysiology to study how biological processes, such as stress, emotions and attention, influence decision-making. Aimed at students from diverse disciplines, the course explains the fundamentals of the field, with a focus on emotional factors that influence decision-making behavior in competitive environments, particularly through the lens of economic experiments with real incentives.

The seminar content is structured to provide a comprehensive overview of significant developments in neuroeconomics, tailored for students from departments with no prior knowledge of biology or chemistry. It aims to make the complex relationship between biological responses - such as emotional arousal and attention - and economic outcomes understandable and relevant. During the semester, students will work with instructors to design and conduct an economic experiment in the Experimental Economics Lab related to the effects of stress in competitive environments, providing a practical application of theoretical knowledge.

Through this seminar, students will gain a basic understanding of neuroeconomics, which will foster skills in analytical thinking and experimental design. This will not only enhance their academic portfolio but also provide skills.

Learning Objectives:

Upon completion of this seminar, students will be able to:

1. Evaluate contemporary research: students will be able to critically evaluate the current research landscape regarding the biological basis of decision-making. This includes identifying key studies, understanding the methodologies used, and recognizing the implications of these findings for the broader field of neuroeconomics.
2. Analyze the impact of cognition and emotion: Students will develop a deep understanding of how cognitive processes and emotional states influence economic decision making. They will learn to distinguish between different cognitive functions and emotional responses and analyze how these elements can influence individual and group economic decisions in different contexts.
3. Design relevant research studies: Students will be able to design comprehensive research proposals to explore unanswered questions in the field of neuroeconomics. This includes formulating hypotheses based on the existing literature, selecting appropriate experimental designs, and outlining methods to study the interplay between biological behavioral mechanisms and their economic consequences.

Moodle course: https: //moodle.uni-wuppertal.de/course/view.php?id=36135

The seminar starts on May 28, 2024, 14.00 - 16.00.

Room: M.13.05 - CIP 1

Follow-up dates:

May 28, 2024: Introduction: Economics and Emotions (2 hours in presence) June 04, 2024: Affective Heuristics & Theory of Optimal Stimuli (2 hours online) June 18, 2024: The Psychophysiology of Emotions: An Overview (2 hours online) June 25, 2024: Measuring Emotions: GSR and HR (2 hours face-to-face) July 09, 2024: Student Seminar: Stress and Competition (2 hours online) July 15, 2024: Applications: Measuring GSR and HR (2 hours in presence)

The deadline for submission of the final assessment is September 30, 2024.

Lecturers: Prof. Dr. Werner Bönte and Andrés Felipe Zambrano Curcio (M. Sc.)

Crediting options:

MWiWi 6.2.6 Master's seminar Economics of Innovation In the summer semester 2024, this seminar can also be credited for BWiWi 8.x Bachelor.