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| Semester | Frühjahrsemester 2016 |
| Angebotsmuster | Jedes Frühjahrsem. |
| Dozierende | Aleksander Berentsen (aleksander.berentsen@unibas.ch, BeurteilerIn) |
| Inhalt | Economists have long been fascinated by the roles and interactions of money, banking and payment systems in market economies. In order to understand why money is essential for trading and why financial intermediation can be welfare improving, one needs to examine trade and money from first principles. If there is no clear idea of why money and banking are essential, then there is no real understanding of the consequences or welfare effects of monetary policy experiments, such as Quantitative Easing (QE) or negative interest rates (NIR), or the need for banking regulation. The first part of the lecture is based on the book Champ, Bruce and Scott Freeman, Modeling Monetary Economies, Cambridge University Press. The book is composed of three parts. In Part I of the book, CF construct environments in which money serves as a medium of exchange and a store of value. Various issues such as inflation, barter, commodity money and price surprises are studied within this framework. In Part II, the authors extend the model of the first section to see how financial intermediation affects the trading environment and the role of money in the economy. In this part of the book, CF study the conflict between money and capital as stores of value, the liquidity structure of capital, clearing house functions of central banks and bank runs. Finally, in Part III, they introduce fiscal policy to study how deficits, the national debt, open market operations and seigniorage affect the functioning of the economy. The second part of the lecture will cover individuals. |
| Literatur | The first part of the lectured will be based on Champ, Bruce and Scott Freeman, Modeling Monetary Economies. Cambridge University Press. The second part of the book will be based on individual papers and the following online-course: Markets with Frictions Coursera Lecture: https://www.coursera.org/course/marketswithfrictions |
| Weblink | Weblink to ADAM |
| Teilnahmebedingungen | Following lectures should have been taken previously: Introduction to Financial Markets (23516) Intermediate Microeconomics (10134) Intermediate Macroeconomics (10184) |
| Anmeldung zur Lehrveranstaltung | Registration: Please enrol in MOnA and by Email to Lukas Altermatt (lukas.altermatt@unibas.ch) until Feb 20, 2016. Please enclose your CV and transcript (Leistungsübersicht), since the number of students is limited to 20. After the registration period you will be notified via email about the approval. |
| Unterrichtssprache | Englisch |
| Einsatz digitaler Medien | kein spezifischer Einsatz |
| Intervall | Wochentag | Zeit | Raum |
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Keine Einzeltermine verfügbar, bitte informieren Sie sich direkt bei den Dozierenden.
| Module |
Modul Economics (ECON) II (Bachelor Wirtschaftswissenschaften) Wahlbereich Bachelor Wirtschaftswissenschaften: Empfehlungen (Bachelor Studienfach: Wirtschaftswissenschaften) |
| Leistungsüberprüfung | Semesterendprüfung |
| Hinweise zur Leistungsüberprüfung | Notes for the Assessment: Homeworks and individual paper presentation. exam date: 01.06.2016; 10:15 - 11:45. Duration of examination: 90 minutes. WWZ S14: A-Z. You can still withdraw from the examination by submitting a completed, signed form to our office from 22.03.16 until 01.04.16 / 12:00 o’clock. Withdrawals sent by email will not be accepted. You will find the examination withdrawal form on the Homepage of the Student Dean’s Office. Prior to 21.03.16, please only use MONA for withdrawing. The exam rooms will be published up to 27.05.16. |
| 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 |