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Economics of Financial Markets

Course code
Course type
MSc Course
Weekly Hours
FS 2021
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.

1. The Role of Financial Markets Institutions in the Economy

2. Intertemporal Allocation

3. Financial Intermediation

4. Financial Crisis

5. Financial Supervision

Date Time
Thursday, 07.01.2021 11:30 - 15:15
Wednesday, 13.01.2021 08:00 - 11:15
Wednesday, 20.01.2021 08:00 - 11:15
Thursday, 21.01.2021 08:00 - 11:15
Friday, 29.01.2021 08:00 - 09:30
Wednesday, 10.02.2021 08:00 - 11:15
Tuesday, 16.02.2021 08:00 - 11:15
Wednesday, 17.02.2021 08:00 - 11:15
- 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

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.

Class Discussions

Self Study

Individual and Group Assignments
Sound Knowledge in Macroeconomics and Microeconomics
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