The basic design of the course allows teaching to proceed largely irrespective of Public Health regulations pertaining to the Corona situation. Working through papers and audio slides can be done by students from home. Class size for in-class teaching and the relative share of in-class and online meetings will be adjusted flexibly. If necessary, all meetings can be shifted online.
|Montag||12.10.2020||12:00 - 14:00||TC.4.01|
|Mittwoch||14.10.2020||14:00 - 16:00||TC.4.01|
|Montag||19.10.2020||12:00 - 14:00||TC.4.01|
|Mittwoch||21.10.2020||14:00 - 16:00||TC.4.01|
|Montag||02.11.2020||12:00 - 14:00||TC.4.01|
|Mittwoch||04.11.2020||14:00 - 16:00||EA.6.032|
|Montag||09.11.2020||12:00 - 14:00||TC.4.01|
|Mittwoch||11.11.2020||14:00 - 16:00||TC.4.01|
|Montag||16.11.2020||12:00 - 14:00||TC.4.01|
|Mittwoch||18.11.2020||14:00 - 16:00||Online-Einheit|
|Montag||23.11.2020||12:00 - 14:00||Online-Einheit|
|Mittwoch||25.11.2020||14:00 - 16:00||Online-Einheit|
|Montag||30.11.2020||12:00 - 14:00||Online-Einheit|
|Mittwoch||02.12.2020||14:00 - 16:00||Online-Einheit|
|Mittwoch||09.12.2020||14:30 - 16:30||Online-Einheit|
|Montag||14.12.2020||12:00 - 14:00||Online-Einheit|
|Mittwoch||16.12.2020||14:00 - 16:00||Online-Einheit|
|Montag||11.01.2021||12:00 - 14:00||Online-Einheit|
|Mittwoch||13.01.2021||14:00 - 16:00||Online-Einheit|
|Montag||18.01.2021||12:00 - 14:00||Online-Einheit|
|Mittwoch||20.01.2021||12:00 - 14:00||Online-Einheit|
|Montag||25.01.2021||12:00 - 14:00||Online-Einheit|
The course consists of two major parts. In the first half of the semester the focus is on financial markets and institutions. The second half of the course focuses on money and monetary policy. Throughout the semester current developments in the monetary sector and financial markets are discussed. Recent financial crises and the current Covid crisis are analyzed from ´the persepctive of monetary policy and financial regulation
Part 1: Financial Markets and Institutions
- Understanding risk and return
- Stock markets and bond markets
- Portfolio decisions
- Asset pricing and financial bubbles
- Banking theory and regulation
- Financial crises and financial regulation
Part 2: Money
- Why money? Foundations of monetary theory
- Monetary policy transmission
- Money and business cycles
- New frameworks for monetary and financial stability
- Central bank strategy reviews
- Monetary policy in the Covid crisis
In this course students acquire the skills necessary
- to understand fundamental concepts about money, the financial sector, and their interaction with the economy,
- to apply their knowledge to financial investment decisions,
- to analyze monetary policy and its impact on the economy,
- to understand key issues regarding financial crises and financial regulation,
- to assess financial reform after the recent world financial crisis,
- to read original scientific research papers about money and the financial sector published by internationally renowned top researchers,
- to access web resources providing key information about money and financial markets,
- to get adequately prepared for writing a bachelor's thesis about a monetary or financial topic.
The ultimate goal of the course is to strengthen the analytical ability of students to understand complex financial issues both at a conceptual and practical level by using state-of-the-art methods and tools.
The attendance requirement is met if a student is present at least 80% of the time at class and online meetings.
The backbone of the course is a series of original scientific papers written by renowned economists on money and the financial sector. Early on students are introduced to reading original research papers which opens up a challenging but fascinating intellectual universe for their own independent studies. Smart use of computer and web resources is encouraged.
The course combines elements of distance learning and in-class teaching for those students staying in Vienna as the general situation permits. Students compelled to continue distance-learning in fall 2020 can also participate in the course.
- Students will work through papers assigned over the course of the semester.
- Audio slides on those papers (i.e. PowerPoint slides with comments by the course instructor) help to understand the material.
- In-class meetings with reduced class size on a rotating schedule and online sessions are flexibly set up to allow for direct interaction with the instructor, augmenting the material covered in the papers and providing opportunities for discussion.
- For students in full distance learning mode online meetings replace in-class meetings.
- Students write essays on home assignments related to the papers and collect points for participating in the discussions at the meetings.
Grading: 80% essays (each essay is is equally weighted) , 20% direct participation
Anmerkungen: Links to original research papers from the web are provided in class over the course of the semester.
The course is self-contained. Key concepts and tools are explained in the course. Prior knowledge in microeconomics, macroeconomics and econometrics is recommended.