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CANCELLED: Household Finance-B-F-M

Kurs ID
FIN623
Art des Kurses
MSc Kurs
Wochenstunden
2,5
ECTS
5.0
Semester
FS 2023
Vortragssprache
Englisch
Vortragende/r
Prof. Dr. Nic Schaub
Bitte beachten Sie, dass AustauschstudentInnen im BSc-Programm der WHU eine höhere Anzahl an Credits erwerben als hier aufgeführt. Für weitere Informationen wenden Sie sich bitte direkt an das [International Relations Office].
The first objective of this course is to provide students with an introduction to household finance. Household finance deals with the financial decision-making of households. On the asset side of households’ balance sheet, we will look at topics such as portfolio choice and retirement savings. On the liability side, we will consider issues such as consumer debt. We will then talk about ways to improve financial decision-making such as financial education and financial advice. We will also discuss the impact of new technology (FinTech) and new regulations on the quality of households’ financial decisions. As household finance is a rather young field of finance, this course is mainly based on recent academic research.

The second objective of this course is to enable students to design an empirical study in (household) finance. We will discuss in detail how empirical studies in (household) finance are set up. Students will then have to present an existing academic paper. Finally, students will have to put together a research proposal on an empirical research question in the field of household finance. This research proposal can serve as a basis for the master thesis.

Roadmap

  1. Households' Beliefs and Preferences
  2. Households' Assets Choice
  3. Households' Liability Choice
  4. Financial Education and Financial Advice
  5. New Technology (FinTech) and New Regulations
  6. How to Design an Empirical Study in Finance?
  • Get an overview of household finance
  • Understand how households’ beliefs and preferences deviate from rationality
  • Know about households’ decision-making on the asset side and the liability side
  • Understand whether and how financial education, financial advice, new technology (FinTech), and new regulations can improve households’ financial decisions
  • Understand how empirical studies in (household) finance are set up
  • Be able to design an empirical study in (household) finance
Guiso, L., and P. Sodini, 2013, Household finance: An emerging field, in M. Constantinides, M. Harris, and R.M. Stulz (editors): Handbook of the economics of finance (volume 2), 1397-1532 (https://www.sciencedirect.com/science/article/pii/B9780444594068000214).Academic papers (will be made available during the lectures)
Lectures, student presentations, research proposal
  • Presentation
  • Research proposal
150
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