Contact BERGISCHE University of Wuppertal UNIVERSITÄT Faculty of Business and Economics – WUPPERTAL Schumpeter School of Business and Economics Gaußstr. 20, 42119 Wuppertal website: www.wiwi.uni -wuppertal.de

Dean’s Office Phone: +49 (202) 43 9 – 2436 Other important addresses Fax: +49 (202) 43 9 – 2889 e-mail: [email protected] Central Student Advisory and Counselling Service Centre for International Contacts Phone: +49 (202) 43 9 – 2595 Co-ordinator: Lydia Sarah Messingfeld e-mail: [email protected] Phone: +49 (202) 439 – 2575 website: www.zsb.uni-wuppertal.de e-mail: [email protected] Secretary: Monika Haseloff International Students Office Phone: +49 (202) 439 – 2548 Phone: +49 (202) 43 9 – 3836 Fax: +49 (202) 439 – 3852 e-mail: [email protected] e-mail: [email protected] website: www.uni-wuppertal.de

Schumpete rSchool Düsseldorf International Airport 43 km Wuppertal of Business and Economics

Cologne Bonn Airport 59 km

Imprint

PUBLISHER Faculty of Business and Economics – Schumpeter School of Business and Economics

EDITORIAL Prof. Dr. Michael J. Fallgatter, Dean; Prof. Dr. Paul J.J. Welfens, Prof. Dr. Tobias Langner; BUSINESS AND ECONOMICS Dipl.-Ök. Fabian Kehrenberg, Dipl.-Ök. Nils von der Crone, Dipl.-Ök. Wolfgang Kuhn, Dipl.-Ök. Sarah Hellebrandt, Dipl.-Übers. Lydia Sarah Messingfeld IN WUPPERTAL

CONCEPT AND DESIGN ENGEL UND NORDEN, Wuppertal

PICTURES University of Wuppertal – Faculty of Business and Economics – Schumpeter School of Business and Economics, Pressestelle and Archiv City of Wuppertal, Medienzentrum Wuppertal, Timm Engelmeyer, Fabian Kehrenberg, Jan Bergfeld, Presseamt, Schumpeter School Alumni, WI VisLab 2006, Zora Recker

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SCHUMPETER SCHOOL OF BUSINESS AND ECONOMICS

Dear Reader,

As the dean of the Faculty of Business and Economics of the University of At the start of the 2008/2009 winter semester UW’s Faculty of Business Wuppertal, it is my pleasure to present you with our new faculty brochure and Economics was officially named the “Schumpeter School of Business in English. It will give you an overview of our university and faculty, our and Economics”, a step that reflects the emphasis on innovation in our study programs and our research activities. You may also find interesting modern faculty and gives us a clearer profile in the university landscape. facts about the City of Wuppertal, as well as details on our new faculty When choosing a figure after whom a school, faculty or institution is to name “Schumpeter School of Business and Economics”, which was first be named, there are usually two alternatives: on the one hand the person introduced in the 2008/2009 winter semester and is fast becoming the chosen may have had an historical or geographical connection with the trademark of our faculty. Hopefully here you will find all the information institution – in which case the name will not generally have programmatic you need for taking Wuppertal into consideration as a place for studying significance. We on the other hand took the “high road” and chose the business and economics. Please do not hesitate to contact us for further name of Joseph Alois Schumpeter, who was not a local resident, in order information: we will be happy to hear from you and also perhaps get to to express the programmatic focus of the faculty with clarity. know you within the next few semesters at the Schumpeter School. Schumpeter’s comprehensive preoccupation with structural change, inno - Now, I would like to put the latest excellence rankings into focus: Very vative business concepts, innovation-supporting market structures, eco - recently, in October 2009, we were selected as one of the only 51 Euro - nomics education and the legal support for innovations has become the pean universities to be awarded the Seal of Excellence in Economics. hallmark of our orientation. At a time of increased social change these This seal honours the large number of citations we have in international topics are more up-to-date than ever. The long-established Wuppertal tra - journals, the high level of mobility and internationality of our staff as well dition of interdisciplinarity in research and teaching is also reflected in as other factors. It shows that our faculty offers you both excellent study Schumpeter’s work. Our new name therefore, unambiguously indicates and top research conditions. what economics at the University of Wuppertal stands for.

Best regards Prof. Dr. Michael J. Fallgatter, Dean JOSEPH ALOIS SCHUMPETER: ECONOMIST, ENTREPRENEUR, POLITICIAN

. born: February 8, 1883 in Triesch (Austria, today Czech Republic) TABLE OF CONTENTS H died: January 8, 1950 in Taconic (USA)

PAGE 3 SCHUMPETER SCHOOL Academic posts Main publications PAGE 4 CITY OF WUPPERTAL p University of Vienna p The Nature and Essence of Theoretical PAGE 6 UNIVERSITY OF WUPPERTAL p University of Czernowitz Economics (1908) PAGE 7 FACULTY OF BUSINESS AND ECONOMICS p University of Graz p The Theory of Economic Development (1911) PAGE 8 STUDY PROGRAMS AND DEGREES p Columbia University, New York p Business Cycles (1939) p University of Bonn p Capitalism, Socialism and Democracy (1942) PAGE 14 PROFESSORS p Harvard University p History of Economic Analysis (1954) p Das Wesen des Geldes (1970) 4 · 5

THE CITY OF WUPPERTAL GREEN AND HILLY WUPPERTAL Wuppertal was founded in 1929 by merging the traditional industrial centers of Elberfeld and Barmen, along with some smaller municipalities, into a single city. Surrounded by wooded hills, the town expanded along the river Wupper, which gave Wuppertal its name as a composition of “Wupper” and “Tal”, meaning dale or valley.

Wherever you stand in Wuppertal, one of the city’s many parks or woodland areas is only a few minutes’ walk away; a good opportunity to go jogging, mountain biking or hiking in splendid natural surroundings.

Students will find ideal living and leisure conditions in Wuppertal. If they decide to come here to start or continue their academic career, study will, of course, be the main part of their life, but getting to know a different culture, language and other people are also very important. Students will find many bars, pubs and clubs here, as well as cinemas, museums and sports and swimming centers. Our AIESEC organization and International Students Team take care of all our international and exchange students.

So come and enjoy Wuppertal!

WUPPERTAL – AT THE CENTRE OF EUROPE

Once-in-a-lifetime float across Wuppertal! Many visitors come here to take a ride on the world’s best known suspension monorail. Of course, Wuppertal has much more to offer than that ride. The city’s location makes it a con - venient starting point for exploring the rest of Europe. Wuppertal has direct access to the German Autobahn and to the national high-speed ICE train network. In addition it is situated close to the international airports of Düs - seldorf, Dortmund and Cologne (all only half an hour away) which makes Wuppertal an ideal base for a short trip to Amsterdam, Paris, Munich, or Berlin – or even London, Barcelona or Prague. Wuppertal itself offers you amazing surroundings with an extensive green belt, attractive areas of town, a popular modern zoo and many other things. The famous Pina Bausch dance group, celebrated museums and the welcoming inner city shopping centers draw both the 350,000 citizens and many visitors to Wuppertal. 6 · 7

“BERGISCHE UNIVERSITÄT – FACULTY B – SCHUMPETER SCHOOL THE UNIVERSITY OF WUPPERTAL” OF BUSINESS AND ECONOMICS

Founded in 1972, the University of Wuppertal is still young. Its twin The Schumpeter School offers a modern environment for studying Busi - goals are academic excellence in its individual disciplines, plus the con - ness Administration/Management and Economics. The fully accredited sistent development of the interface between these disciplines and the bachelor’s and master’s programs are taught by a highly motivated team world of practical experience – in other words, the transfer of knowledge of professors, each of whom has an acknowledged profile in teaching and and know-how. research. Many relatively young professors have joined the faculty recent - ly, so we have an innovative generation combined with established and On its three campuses, covering more than 35 hectares, UW offers a experienced colleagues to create a new spirit. All in all we emphasize a diverse range of programs in the natural sciences, engineering, economics, modern teaching approach with a sound methodological basis in classical and the humanities, as well as in the educational sciences, architecture economics and leading edge theoretical and empirical research. and design. With its seven faculties, UW provides almost 40 different degree programs. Emphasis is placed on intensive interaction between Many courses and research activities have an international focus and disciplines. The interdisciplinary focus in research and teaching is a direct strong links with real world problems and are thus embedded in the dyna - response to the demands placed on future young professionals. So it is mics of companies, markets and policy institutions. Some degree pro - possible, for instance, to study business administration at the Schumpeter grams, as well as several individual courses, are held in English. In addition School and at the same time engineering, sports or a foreign language. At we are proud to offer an international Master of Science (MSc) program present, approximately 14,000 students from more than 100 countries in Management and Economics with a core option in internationalization benefit from high level academic teaching at UW, and from the university's and economic policy which is completely held in English. In order to commitment to research and international co-operation. They are sup - avoid passive old-style learning schemes we encourage all students to be ported by about 1,200 staff members. actively involved in the learning and teaching process. Thus we offer a wide range of practical opportunities in many fields of specialization, as In general, studying in Germany requires self-discipline and self-reliance, well as a strong focus on methodology and social skills. as well as soft skills such as motivation, language competence, teamwork, responsibility and initiative. German universities see their task as prepa - Completing a degree requires hard work, intelligent specialization, skillful ring students for leading positions in the academic world, public admini - organization and creative interaction with others. At UW’s Schumpeter stration and the economy where those qualities are a must. School you will have the opportunity to explore and develop your talents and experience a study program that takes full account of your own pre - The websites www.daad.de for Germany as a whole and http://hsw-inter - ferences. We are confident that you will then be in a position to pursue national.de for UW are specially designated for international students a successful national or international career based on your studies and interested in studying here. the skills and networks developed during your years in Wuppertal.

THE UNIVERSITY’S SEVEN FACULTIES

A Faculty of Humanities B Faculty of Business and Economics – Schumpeter School of Business and Economics C Faculty of Mathematics and Natural Sciences D Faculty of Architecture, Civil Engineering, Mechanical Engineering and Safety Engineering E Faculty of Electrical, Information and Media Engineering F Faculty of Art and Design G Faculty of Educational and Social Sciences 8 · 9

STUDY PROGRAMS AND DEGREES BACHELOR OF SCIENCE (B. SC.) The Bachelor of Science (B. SC.) in Business and Economics is a six semester program focusing on fundamental knowledge in the fields of business, eco - BOLOGNA PROCESS nomics, law and methods (mathematics, accounting etc.). The program, starting every winter semester, is divided into a foundation level (105 credit Today’s university system is strongly influenced by the Bologna process, points) and an advanced level (75 credit points) and includes a bachelor’s which aims to promote a common European Higher Education Area with thesis. The advanced level allows students to choose from a wide range of clear, standardized degree structures. Universities are therefore expected modules and to focus on subjects of individual interest. The bachelor’s thesis to create frameworks which allow for the achievement of Bologna’s goals provides a suitable opportunity to develop one of these areas in a rigorously in an efficient manner. These include greater flexibility, mobility and inter - academic way. With a bachelor’s degree students can either apply for admis - nationalization. sion to a master’s program or immediately start their professional career.

In line with this process, the Schumpeter School has adapted its degree pro - grams to the “consecutive bachelor/master degree model” now adopted throughout Germany. The School offers, among other degrees, a Bachelor MASTER OF SCIENCE (M. SC.) of Science (B. Sc.), a Master of Science (M. Sc.), and a PhD. The Master of Science (M. Sc.) is a four semester program offering six core opti - ons (see following page). It can be started either in the summer or winter seme - ster. Each option provides a distinctive focus on a specific field of career oppor - tunities and consists of four compulsory modules, two elective modules out of BACHELOR a specified range, plus one module which can be freely selected. Students have 6 SEMESTER to take written or oral examinations in each module; the modules carry 9 credit points each. Additionally, students have to choose three seminars in which credit points are obtained through a written paper and an oral presentation. Finally, a master’s colloquium with a written paper and presentation has to be completed, preferably in a field covered by current faculty research topics.

The master’s program leads students to acquire certain complementary skills: MASTER they learn how to conduct independent scientific research and complete pro - 4 SEMESTER jects on relevant topics within a team and under tight time constraints. They gain solid analytical, scientific knowledge and learn how to employ modern analytical approaches and techniques: the ability to work with both qualitative and quantitative methods is crucial. On graduating, students will possess advanced knowledge in identifying and understanding decision-making in firms, markets and economic policy. On the basis of carefully selected infor - DOCTORATE mation gathering and analytical reflection they will be able to develop proposals 3 YEARS UPWARD and adopt positions that are analytically well founded. Successful students will be able to assess, and reflect critically upon, their own level of knowledge and skills, including methodological approaches and communication skills. Thus the basic elements of business and economics are linked with solid knowledge of modern methods of analysis in the master’s degree.

The following prerequisites have to be met by applicants for the master’s pro - Students normally have to achieve 30 credits per semester, each credit gram: a completed bachelor’s degree or diploma in economics, business admi - being the equivalent of 30 hours’ work (“workload”) on the European nistration or mathematical economics or an equivalent field of study. The mini - Credit Transfer System (ECTS) scale. mum grade required is “C” on the ECTS scale or 3.0 on the German scale. 10 · 11

MASTER OF SCIENCE – CORE OPTIONS

Finance, Taxation and Auditing Marketing, Service Management and Competition This core option covers all aspects of financial economic decision making. It This core option includes the consideration of the customer and market orientation includes corporate financing, asset management and taxation, as well as of companies and of the behavior of companies in the market. Growing compe - accounting. The program covers a close study of the prevailing legal prerequi - tition between companies results in new kinds of marketing and services for the sites while evaluating and further developing the theoretical fundamentals consumer. Central themes are brand management, brand analysis, the develop - and models of economics and other related disciplines. It also deals with the ment of marketing strategies and controlling. This core option also emphasises process of internationalization in accounting, relevant theories, such as game empirical methods of economics resulting in judgments about real world data. theory or optimal taxation, the analysis of market and company data. Internationalization and Economic Policy Entrepreneurship, Business Development and Innovation The option focuses on internationalization dynamics and international econo - The central theme of this core option is the establishment of a company and mic integration with respect to globalization and its effects on firms, NGOs its development through different stages. The integration of business, economic and national and international economic policy, as well as corporate strategies. and legal perspectives leads to a profound understanding of the structures and Economic topics, as well as legal issues, will be integrated. Additionally, the processes in overall business development. There is a focus on new technolo - combination with econometrics provides a sound basis for standard and advan - gies, different kinds of co-operations and the internationalization of global ced analysis. Students will acquire empirical analysis skills and analyze impor - organizations and markets. The core option also covers issues of economic tant institutional aspects – including those of the digital knowledge economy. change through innovation in a national and global context. Students will learn how to link economic theory and empirical analysis, and Human Resources (HR), Labour Markets and Labour Law apply standard and new approaches to economic policy and company strategies. They will become familiar with how international law influences economic The interrelation between HR and external labour markets is the main focus policy. Developing theoretical models in international correlation and deducing of this core option. Theories of single and total economies, as well as legal empirical hypotheses will be important in their analysis of studies concerned aspects, provide the background for the analysis of labour market processes. with economic, corporate and political problems. This includes a business perspective (development, evaluation and control) and an economic policy perspective. Institutional variance and its effects on Postgraduate doctoral study labour market processes are closely examined with the help of international comparative analyses. Students that have been awarded a Master’s Degree are entitled to take up doctoral studies at German universities. Doctoral studies are classified as the Logistics and Supply Chain Management postgraduate phase of study. All faculties at UW award doctorate degrees with a research doctorate usually taking three to five years to complete. This core option focuses on the efficient planning and controlling of logistic networks. It includes the fields of business, economics and IT, as well as special methods. In this way logistic networks are covered from their economic pre - mises to their impacts. Problems of supply chain management and controlling are also analyzed. Special advanced planning systems are used in tandem with modern information and communication technologies. The focus is on modern application systems, offshoring and real time controlling processes. 12 · 13

OTHER STUDY PROGRAMS EXPERIENCES OF FOREIGN STUDENTS

Alongside our stand-alone bachelor’s and master’s programs, we also offer Zhonghua Zhao, 25, from China, interdisciplinary programs in the following contexts: has been in Wuppertal for 2 years on a master’s program After taking my bachelor’s degree in China I came here to focus on entrepre - Industrial Engineering neurship and management. The university’s good reputation in this field made The Faculty of Business and Economics and the Faculty of Electrical, Informa - my decision quite easy to come to Wuppertal. When I started my first semester, tion and Media Engineering offer an interdisciplinary bachelor’s and master’s I found it very helpful that other students and the student services organization program for students interested in the fields of engineering and economics. made my beginning so easy, and I got in contact with other students. Also all Scope for innovation will be analyzed from different perspectives, including the professors are easy to reach and I have no difficulties making appointments. production, organization, cost effectiveness, market strategy and controlling. Now I am writing my master’s thesis about “Entrepreneurship Controlling in The master’s degree program offers students the possibility to focus on one of China” and I’m thinking about staying here longer even after my exam. three core tracks: automotive, energy management or information technology. Lilla, 20, from the UK, Industrial Engineering in Transportation has been in Wuppertal for 1 semester on a bachelor’s program Industrial Engineering in Transportation is offered both at bachelor’s and master’s I chose Wuppertal because it is one of Birmingham’s partner universities in the level at UW. It is an interdisciplinary program with economics and engineering ERASMUS program. To get along in the beginning it was very helpful that I input, run jointly by the Faculty of Business and Economics and the Faculty of have friends who studied here as well and told me about the things to know: Architecture, Civil Engineering, Mechanical Engineering and Safety Engineering. e.g. the university internet connection, the bank account, or going shopping. The program includes construction and transportation engineering, urban deve - Nevertheless I had some problems at my start especially with everyday German lopment and the environment and relevant hands-on experience. duties. Everything really starts on time and university life is much more struc - tured than in the UK, although there are many course options and double-offe - Health Economics and Management red lectures to choose from. Another point that is really interesting is that Wup - pertal is quite near big cities like Dortmund and Cologne, and the living costs Health is one of the leading concerns of our age: from the viewpoint of industry, are OK. All in all, I am quite happy to have chosen Wuppertal as the place for politics and the health sector itself, it is not only a medical, social and demo - my ERASMUS studies. graphic challenge but also a key value-added factor. The Regional Competence Center for Health Management and Public Health, an institute of UW’s Schum - peter School of Business and Economics, is embedded within a regional network Darya, 23, from Tajikistan, of clinics, health authorities and insurance organizations that focus jointly on has been in Wuppertal for 1 semester on a master’s program this complex interface. New degree programs include a twin-track B. Sc. and When I came here I did the 3-month university language course from the an MBA (to be followed by an M. Sc.) in Health Economics and Management. Language Center, to be well prepared for German lectures. The group was very mixed, with students from China, Central Asia, Turkey, and Russia, so I could Master’s Program in European Studies meet the first people. Now I am even doing my master’s degree together with one of the girls. I live here in a “WG”, a flat-sharing community, with some This is an interdisciplinary program jointly organized by the Faculty of Huma - students from Russia, but I think I’ll get one of the student accommodations nities and the Faculty of Business and Economics. The one-year master’s pro - within the next semester. gram includes visits to the European commission and the renowned Gustav Stresemann Institute in Bonn. Visits to the European Commission are also included; a limited number of internships at the European Institute for Inter - national Economic Relations (www.eiiw.eu) is available for students in the master’s program. 14 · 15

PROF. DR. HANS FRAMBACH PROFESSORS Microeconomic Theory

PROF. DR. PETER KAPPELHOFF The Schumpeter School of Business and Economics possesses a wide range Chair of Methods of Economic and Social Research of chairs. Based on its interdisciplinarity, our faculty comprises of the following PROF. DR. LAMBERT T. KOCH fields: Business Administration with e.g. Service or HR Management, Mar - Rector of the University of Wuppertal, Chair of Entrepreneurship and Economic Development keting and Controlling; Economics with a focus on entrepreneurship, finance, policy and innovation; Methodology with statistics or operations research PROF. DR. NORBERT KOUBEK Chair of Business Administration, Innovation and Production plus Law; Business Psychology and Business Education. PROF. DR. TOBIAS LANGNER To complete our research and teaching activities new chairs are being esta - Chair of Marketing blished in the fields of Technology and Health management. All in all our PROF. DR. THORSTEN POSSELT staff currently consists of 27 professors and 5 assistant professors together Chair of Retailing and Service Management with about 80 graduate assistants and another 90 undergraduate assistants. PROF. JOHN ROSSITER, PHD With the new chairs we will expand these figures by 4 more professors and Permanent Visiting Research Professor for Marketing junior professors each, as well as their assistants. PROF. DR. RONALD SCHETTKAT Chair of Economic Policy

PROF. DR. CLAUS AHRENS PROF. DR. KERSTIN SCHNEIDER Chair of Civil Law Chair of Public Economics and Business Taxation

PROF. DR. GERHARD ARMINGER PROF. DR. UWE SCHNEIDEWIND Chair of Statistics in Economics Sustainable Transition Management

PROF. DR. JUR. WOLFGANG BAUMANN PD DR. DIRK TEMME Economic Law Methods of Economic and Social Research

PROF. DR. WINFRIED BAUSBACK PROF. DR. STEFAN THIELE Chair of Public Law Chair of Auditing and Accounting

PD DR. ANDRE BETZER PROF. DR. CHRISTINE VOLKMANN Finance and Banking Chair of Entrepreneurship and Economic Development

PROF. DR. JOHANNES GEORG BISCHOFF PROF. DR. GRIT WALTHER Controlling Chair of Production and Logistics

PROF. DR. STEFAN BOCK PROF. DR. PAUL J.J. WELFENS Chair of Business Computing and Operations Research Chair of Macroeconomics, Jean Monnet Chair for European Economic Integration

PROF. DR. WERNER BÖNTE PROF. DR. RAINER WIELAND Chair of Industrial Economics and Innovation Processes Chair of Economic Psychology

PROF. DR. GÜNTER BORCHERT ASS.PROF. DR. HEIKO BREITSOHL Chair of Labor Law and Social Security Law. Human Resources and Organisation

PROF. DR. ULRICH BRAUKMANN ASS.PROF. DR. SEBASTIAN EICHFELDER Chair of Business Administration Education and Entrepreneurship Education Business Taxation

PROF. DR. NILS CRASSELT ASS. PROF. JULIANE KÖBERLEIN Chair of Controlling Health Management

PROF. DR. MICHAEL J. FALLGATTER, DEAN ASS.PROF. DR. CHRISTIAN LOHMANN Chair of Human Resource Management and Organization Controlling

PROF. DR. MANFRED FISCHEDICK ASS.PROF. DR. JAREK KRAJEWSKI Dynamic Development Economic Psychology Contact BERGISCHE University of Wuppertal UNIVERSITÄT Faculty of Business and Economics – WUPPERTAL Schumpeter School of Business and Economics Gaußstr. 20, 42119 Wuppertal website: www.wiwi.uni -wuppertal.de

Dean’s Office Phone: +49 (202) 43 9 – 2436 Other important addresses Fax: +49 (202) 43 9 – 2889 e-mail: [email protected] Central Student Advisory and Counselling Service Centre for International Contacts Phone: +49 (202) 43 9 – 2595 Co-ordinator: Lydia Sarah Messingfeld e-mail: [email protected] Phone: +49 (202) 439 – 2575 website: www.zsb.uni-wuppertal.de e-mail: [email protected] Secretary: Monika Haseloff International Students Office Phone: +49 (202) 439 – 2548 Phone: +49 (202) 43 9 – 3836 Fax: +49 (202) 439 – 3852 e-mail: [email protected] e-mail: [email protected] website: www.uni-wuppertal.de

Schumpete rSchool Düsseldorf International Airport 43 km Wuppertal of Business and Economics

Cologne Bonn Airport 59 km

Imprint

PUBLISHER Faculty of Business and Economics – Schumpeter School of Business and Economics

EDITORIAL Prof. Dr. Michael J. Fallgatter, Dean; Prof. Dr. Paul J.J. Welfens, Prof. Dr. Tobias Langner; BUSINESS AND ECONOMICS Dipl.-Ök. Fabian Kehrenberg, Dipl.-Ök. Nils von der Crone, Dipl.-Ök. Wolfgang Kuhn, Dipl.-Ök. Sarah Hellebrandt, Dipl.-Übers. Lydia Sarah Messingfeld IN WUPPERTAL

CONCEPT AND DESIGN ENGEL UND NORDEN, Wuppertal

PICTURES University of Wuppertal – Faculty of Business and Economics – Schumpeter School of Business and Economics, Pressestelle and Archiv City of Wuppertal, Medienzentrum Wuppertal, Timm Engelmeyer, Fabian Kehrenberg, Jan Bergfeld, Presseamt, Schumpeter School Alumni, WI VisLab 2006, Zora Recker

PRINT Offset-Printing Figge, Wuppertal, 1.500 pcs © BUW 06/2010