http://www.augustiner-braeu.de/#
http://www.braeustuben.de/

This is a great place to go and cheaper than the Augustinerkeller, which is more in the central part of Munich. If you stay in the Meininger Hostel, it's perfect because it's just across the street! I went in a group of four, and we each ate dinner and had two drinks for less than 50€. The food is excellent and hearty, like German food should be. I recommend the knödel, or "dumpling," in a mushroom-cream sauce. I tasted their käsespätzli, but I found it somewhat lacking, so this might not be the best place to try that dish. Food is served until closing, so there are no worries about a closed kitchen. And Augustiner is supposed to have the best beer in Munich, so drink up!