1. Welcome at ZEW Alexander Spermann

2. 2 1. Our president is in Wiesbaden He apologizes Annual Report of the Council of Economic Advisers – close to the deadline He wishes us a successful conference

3. 3 2. Thanks German Research Foundation for partially funding Andrea (secretary) and student helpers (Andrea, Tim)

4. 4 3. About ZEW 129 employees, 85 economists with average age: 31 years 5 departments Labour Market Department: 17 economists, 40% females, 60% post- graduates Budget: 50% state financed, 50% funded or commissioned projects 2005: Member of the so-called “Blue list” This means that state and federal taxpayers will finance half of the budget

5. 5 4. Important organizational details First of all: Pictures for ZEW-News (Erich Dichiser)

6. 6 Lunch Break: ZEW Euro Bistro Please take a tray Choose whatever you want: Just look, what they offer Please show the cashier what you chose: Don’t pay Good appetite!

7. 7 Train station: Departure 7:07 p.m. Track 10 a We bought a kind of “overall ticket” for all of you, just get in! If you miss this train Buy a ticket on your own Next train: 7:37 p.m. to Heidelberg-Karlstor Walk directly to the Restaurant (see map) Evening I: Excursion to Heidelberg

8. 8 Please pay on your own: credit card accepted Return journey Departure: 11:27 p.m. Heidelberg-Karlstor If you want to leave earlier: Please buy a ticket on your own.  In any case: Alexander’s cell phone 0163-6235151 Evening II: Dinner in Heidelberg

9. 9 Reimbursement for presenters and discussants: Please pay on your own and send us the reimbursement form with all documents as soon as possible  Any questions?  Enjoy the conference!