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40105-01 - Vorlesung: Macroeconomics and Finance 6 KP

Semester Frühjahrsemester 2021
Angebotsmuster Jedes Frühjahrsem.
Dozierende Lukas Hitz (lukas.hitz@unibas.ch)
Sarah Lein (sarah.lein@unibas.ch, BeurteilerIn)
Heinz Zimmermann (heinz.zimmermann@unibas.ch)
Inhalt The course part “Macroeconomics” is held in the first half of the semester until April 13 (via screencasts, see Syllabus on ADAM for details), the course part “Finance” follows from April 20 until the end of the semester.

Course outline Part Macroeconomics:
The largest part of the course Macroeconomics focuses on modern theories of macroeconomic fluctuations. Modern macroeconomics is built explicitly on microeconomic foundations. That is, the modern study and analysis of macroeconomics begins by considering how the microeconomic units, namely consumers and firms, in an economy make their decisions and then considers how the choices of these great many individuals interact with each other to yield economy-wide outcomes. We will also introduce financial markets in our model and discuss intertemporal choices. In the last part of this course, we will focus the long-run by analyzing models of economic growth.

Course outline Part Finance
The lecture provides an overview on some of the key topics of the theory of finance
1) Capital market under certainty: Consumption, investment, economic growth, and interest rates; Fisher separation and economic implications
2) Capital market under uncertainty: Consumption-based pricing, risk aversion, state (SDF) valuation, CAPM, arbitrage pricing with applications to options
3) Corporate financial decisions: Capital structure and cost of capital, Modigliani-Miller, contingent-claim analysis of corporate securities, over- and underinvestment, real options, pecking order theory, payout decisions

Lernziele Course objective:
Introduction to key long-run and short-run issues in macroeconomics
Treatment of key principles of financial economics, in particular related to time and uncertainty, and some corporate finance
Literatur Reading Part Finance (recommended, not required):
Cochrane, J., Asset pricing, Princeton Univ Press, 2005
Lengwiler, Y., Microfoundations of financial economics, Princeton Univ Press, 2006
Niepelt, D., Macroeconomic models, book draft, available online (chapters 3 and 4)
de Matos, J.A., Theoretical foundations of corporate finance, Princeton Univ Press, 2001
Sharpe, W., Investors and markets, Princeton Univ Press, 2008

Readings Part Macroeconomics:
Williamson, Stephen “Macroeconomics”, 6th global edition. (MAIN textbook)
Additional references:
David Romer, Advanced Macroeconomics, 4th ed. 2012.
Olivier Blanchard, Alessia Amighini/Francesco Giavazzi, Macroeconomics – A European Perspective, 2nd.ed. 2014, Chapter 11.

Bemerkungen Finance part:
For each of the three subjects of the lecture, a package of slides is available. They are used in the lectures.
Weblink Weblink to ADAM


Teilnahmebedingungen Completed Bachelor in Business and Economics
Anmeldung zur Lehrveranstaltung Registration: Please enrol in MOnA. EUCOR-Students and students of other Swiss Universities have to enrol at the students administration office (studseksupport1@unibas.ch) within the official enrolment period. Enrolment = Registration for the exam!
Unterrichtssprache Englisch
Einsatz digitaler Medien Online-Veranstaltung


Intervall Wochentag Zeit Raum
wöchentlich Dienstag 12.15-16.00 - Online Präsenz -
Bemerkungen The course will be taught online at 12.15-16.00 from April 20, 2021 onwards. Before that, the course will be taught via screencasts (see Syllabus document in ADAM for the Macroeconomics sequence).


Datum Zeit Raum
Dienstag 02.03.2021 12.15-16.00 Uhr - Online Präsenz -, From 02.03. - 13.4. course is taught by screencasts (see Syllabus on ADAM)
Dienstag 20.04.2021 12.15-16.00 Uhr - Online Präsenz -, --
Dienstag 27.04.2021 12.15-16.00 Uhr - Online Präsenz -, --
Dienstag 04.05.2021 12.15-16.00 Uhr - Online Präsenz -, --
Dienstag 11.05.2021 12.15-16.00 Uhr - Online Präsenz -, --
Dienstag 18.05.2021 12.15-16.00 Uhr - Online Präsenz -, --
Dienstag 25.05.2021 12.15-16.00 Uhr - Online Präsenz -, --
Dienstag 01.06.2021 12.15-16.00 Uhr - Online Präsenz -, --
Module Grundlagenmodul: Advanced Topics in Economics (Masterstudium: International and Monetary Economics)
Kernmodul: VWL (Masterstudium: Wirtschaftswissenschaften) (Pflicht)
Modul: Ausgewählte Themen aus Ökonomie und Rechtswissenschaft (Masterstudium: Actuarial Science)
Modul: Finanztheorie (Masterstudium: Actuarial Science)
Modul: Kernbereich Wirtschaftswissenschaften (Masterstudium: Sustainable Development)
Modul: Methoden der Wirtschaftswissenschaften (Masterstudium: European Global Studies)
Leistungsüberprüfung Semesterendprüfung
Hinweise zur Leistungsüberprüfung written exam: 21.06.21; 15:00-16:30.The exam will take place at Basel Exhibition Center (Messe Basel). In case COVID-19 protective measures prevent examination on site, the faculty reserves the right to conduct the examination electronically during the same time slot. You will receive details of the on-site examinations (Exhibition Center or WWZ) by email approximately one week before the examination date.
An-/Abmeldung zur Leistungsüberprüfung Anmeldung: Belegen
Wiederholungsprüfung keine Wiederholungsprüfung
Skala 1-6 0,1
Wiederholtes Belegen beliebig wiederholbar
Zuständige Fakultät Wirtschaftswissenschaftliche Fakultät / WWZ, studiendekanat-wwz@unibas.ch
Anbietende Organisationseinheit Wirtschaftswissenschaftliche Fakultät / WWZ