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Management, Philosophy & Economics – The study of decisions
Bachelor / 15 February, 2019
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BSc in Business Administration Class of 2022
Quirin is currently studying Business Administration with focus on Management, Philosophy & Economics.

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My path to Management, Philosophy & Economics (MPE) started in 2017, when I first heard of the course in a student advisory consultation at Frankfurt School (FS). At the time, MPE was described to me as a quantitative and at the same time broad course which goes well beyond the horizon of pure Economics and/or Management. Going a few steps further, I attended a couple of trial lectures and spoke to FS students who had already chosen MPE. To cut a long story short, I bought it.

Insights of a freshman

An Abitur and my first semester of MPE later, I can confirm that up to now the course has lived up to what it promised. In MPE, we study decision-making on a level which I could not have dreamed of one year ago. Economics is the study of how humans make decisions under scarcity of resources, both in a micro and a macro context. Management, on the other hand, describes how organisations and individuals organise to implement decisions. “Well then, what do you need Philosophy for?” is a question I often get asked when talking about my studies. In fact, scepticism towards Philosophy seems to be a wide-spread phenomenon these days. However, I find this bizarre, since Philosophy studies how we should make decisions, i.e. it describes the normative component. Concluding, Management, Philosophy and Economics is a perfect trio for all those who wish to learn how to make and implement decisions in an effective and constructive manner.

One of the modules specific to MPE is Logic & Argumentation. Through this module we get to learn how argumentation is structured, how sound and valid arguments are defined as well as which argumentation fallacies are most common and how to detect them. The concepts of Logic & Argumentation are very useful in the context of becoming a capable decision-maker, given that even the best decision needs to be presented in a convincing way. Simultaneously, the capacity to detect flawed or sound arguments presented by other individuals, be it at work, in private or wherever it may be, is an invaluable asset to me because it has an influence on the opinions I support or reject.

Bear in mind, I have only studied MPE for one semester until now. Luckily, there are six more semesters to come with both specific philosophical and quantitative as well as economic modules, which will hopefully become as insightful and exciting as those in my first semester. In fact, I can’t quite yet imagine where the MPE path will eventually take me but given the importance of decisions in our societies, I am very keen on continuing the journey.

What about you?

I would recommend studying MPE to any student with a certain quantitative talent, economic interest, the wish to learn profound decision-making skills and the willingness to work hard. In return I believe that the competencies learned  through studying MPE are certainly valuable and sought after in diverse areas, be it as a future business leader, entrepreneur, investor, politician or consultant. What do you think, are you up for this kind of perspective?

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