Economics of Financial Markets
Course code
ECON603
Course type
MSc Course
Weekly Hours
2,5
ECTS
Term
FS 2020
Language
Englisch
Lecturers
Niklas Gadatsch, Prof. Dr. Ralf Fendel
Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.
Course content
1. The Role of Financial Markets Institutions in the Economy
2. Intertemporal Allocation
3. Financial Intermediation
4. Financial Crisis
5. Financial Supervision
Class dates
| Date | Time |
|---|---|
| Wednesday, 08.01.2020 | 08:00 - 11:15 |
| Tuesday, 14.01.2020 | 13:45 - 15:15 |
| Wednesday, 15.01.2020 | 08:00 - 09:30 |
| Tuesday, 21.01.2020 | 11:30 - 15:15 |
| Wednesday, 22.01.2020 | 09:45 - 11:15 |
| Friday, 31.01.2020 | 08:00 - 11:15 |
| Friday, 07.02.2020 | 09:45 - 15:15 |
| Friday, 14.02.2020 | 08:00 - 13:00 |
| Wednesday, 26.02.2020 | 09:45 - 11:15 |
| Friday, 06.03.2020 | 15:30 - 20:30 |
| Tuesday, 10.03.2020 | 11:30 - 17:00 |
| Tuesday, 10.03.2020 | 11:30 - 17:00 |
| Tuesday, 10.03.2020 | 11:30 - 17:00 |
| Tuesday, 10.03.2020 | 11:30 - 17:00 |
| Tuesday, 10.03.2020 | 11:30 - 17:00 |
| Tuesday, 10.03.2020 | 11:30 - 17:00 |
| Tuesday, 10.03.2020 | 11:30 - 13:00 |
| Tuesday, 10.03.2020 | 13:45 - 17:00 |
| Monday, 06.04.2020 | 00:00 - 23:59 |
Learning outcomes
- Role of financial intermediation
- Functioning of commercial banks (models of delegated monitoring of loans, diversification, maturity transformation)
- Theories of intertemporal allocation of consumption
- Role of risk aversion
- Theories and empirics and banking crisis and sovereign debt crisis
- Theories of exchange rate crisis
- Modelling of empirical early warning systems for financial crisis (STATA excersises)
- Macroprudential policies for financial stability
Literature
Mishkin, F. S., The Economics of Money, Banking, and Financial Markets, 12th ed., Pearson, Boston, 2018. Allen, F. and Gale, D., Understanding Financial Crisis, Oxford University Press, 2007.De Haan, J., Osterloo, S. and Schoenmaker, D., Financial Markets and Institutions: A European Perspective, 3rd ed., Cambridge University Press, New York, 2015.Additional Papers and Teaching Notes will be distributed during class.
Learningmethods
Lecture
Class Discussions
Self Study
Exam
Exam and Group Assignment
Requirements
Sound Knowledge in Macroeconomics and Microeconomics
Total workload
150