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| Semester | Frühjahrsemester 2022 |
| Angebotsmuster | Jedes Frühjahrsem. |
| Dozierende |
Aleksander Berentsen (aleksander.berentsen@unibas.ch, BeurteilerIn)
Remo Nyffenegger (remo.nyffenegger@unibas.ch) |
| 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 lecture is composed of a theoretical and an applied part. For the theoretical part, the lecture is based on the book by Champ B., Freeman S., and J. Haslag, 'Modeling Monetary Economies', Cambridge University Press. The book is composed of three parts. In Part I of the book, Champ et al. 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, Champ et al. 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. In the applied part of the lecture, we will teach students the basics of programming in Python. At the end of the lecture, students will be able to program the simple model economies from the textbook by Champ et al., solve these models, and perform comparative statics numerically. |
| Literatur | The lecture will be based on Champ B., Freeman S., and J. Haslag, 'Modeling Monetary Economies', Cambridge University Press., individual papers, and online content for programming in Python. |
| 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. 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 | kein spezifischer Einsatz |
| Intervall | Wochentag | Zeit | Raum |
|---|---|---|---|
| wöchentlich | Donnerstag | 08.15-12.00 | Kollegienhaus, Hörsaal 116 |
| Datum | Zeit | Raum |
|---|---|---|
| Donnerstag 24.02.2022 | 08.15-12.00 Uhr | Kollegienhaus, Hörsaal 116 |
| Donnerstag 03.03.2022 | 08.15-12.00 Uhr | Kollegienhaus, Hörsaal 116 |
| Donnerstag 10.03.2022 | 08.15-12.00 Uhr | Fasnachtsferien |
| Donnerstag 17.03.2022 | 08.15-12.00 Uhr | Kollegienhaus, Hörsaal 116 |
| Donnerstag 24.03.2022 | 08.15-12.00 Uhr | Kollegienhaus, Hörsaal 116 |
| Donnerstag 31.03.2022 | 08.15-12.00 Uhr | Kollegienhaus, Hörsaal 116 |
| Donnerstag 07.04.2022 | 08.15-12.00 Uhr | Kollegienhaus, Hörsaal 116 |
| Donnerstag 14.04.2022 | 08.15-12.00 Uhr | Ostern |
| Donnerstag 21.04.2022 | 08.15-12.00 Uhr | Kollegienhaus, Hörsaal 116 |
| Donnerstag 28.04.2022 | 08.15-12.00 Uhr | Kollegienhaus, Hörsaal 116 |
| Donnerstag 05.05.2022 | 08.15-12.00 Uhr | Kollegienhaus, Hörsaal 116 |
| Donnerstag 12.05.2022 | 08.15-12.00 Uhr | Kollegienhaus, Hörsaal 116 |
| Donnerstag 19.05.2022 | 08.15-12.00 Uhr | Kollegienhaus, Hörsaal 116 |
| Donnerstag 26.05.2022 | 08.15-12.00 Uhr | Auffahrt |
| Donnerstag 02.06.2022 | 08.15-12.00 Uhr | Kollegienhaus, Hörsaal 116 |
| Module |
Modul Economics (ECON) II (Bachelorstudium: Wirtschaftswissenschaften (Studienbeginn vor 01.08.2021)) Modul: Aufbau Economics (Bachelorstudium: Wirtschaftswissenschaften) Modul: Wahlbereich in Wirtschaftswissenschaften (Bachelor Studienfach: Wirtschaftswissenschaften) Wahlbereich Bachelor Wirtschaftswissenschaften: Empfehlungen (Bachelor Studienfach: Wirtschaftswissenschaften (Studienbeginn vor 01.08.2021)) |
| Leistungsüberprüfung | Leistungsnachweis |
| Hinweise zur Leistungsüberprüfung | Final exam and programming assignments. written exam: 17.06.22; 10:15-11:45. Bernoullinaum : A-Z. The addresses of the examination rooms can be found here: https://wwz.unibas.ch/de/studium/pruefungen/vorlesungs-und-pruefungsraeume/ The exam is scheduled in presence. If entrance checks are necessary for the exam due to Covid protection measures, the start of the exam may still be delayed by up to 30 minutes. 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. |
| An-/Abmeldung zur Leistungsüberprüfung | Anm.: Belegen Lehrveranstaltung; Abm.: stornieren |
| 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 |