Klaus Waelde has been Professor of Economics at the Johannes-Gutenberg University Mainz since May 2009. He previously held professorships at universities in Dresden, Wurzburg and Glasgow. When joining the JGU, he received a 5-year research grant by the Gutenberg Research Council. Klaus has been working on economic theory, business cycles and international trade since the beginning of his PhD studies in 1992 at the University of Kiel, Germany. He has published in leading international journals among which the Journal of Economic Theory, the Economic Journal or the International Economic Review. Recent work focuses on labour markets and their reforms (especially the Hartz Reforms in Germany) and on Emotional Economics . He also contributed chapters to a textbook and taught Applied Intertemporal Optimization, an advanced textbook at the PhD level, at various universities. He was invited for talks and research visits to many European countries, to North America and Asia. He is also a member of CESifo (www.cesifo.de) and an Extra-mural Fellow of the Department of Economics of the Universite catholique de Louvain, Louvain-la-Neuve (www.ires.ucl.ac.be). He is an associate editor of the Journal of Economics. He worked for the World Bank and as an adviser at the European Commission.