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| Semester | Frühjahrsemester 2017 |
| Angebotsmuster | Jedes Frühjahrsem. |
| Dozierende |
Michael Huynh (michael.huynh@unibas.ch)
Oliver Landmann (oliver.landmann@unibas.ch) Heinz Zimmermann (heinz.zimmermann@unibas.ch, BeurteilerIn) |
| Inhalt | 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 Course outline Part Macroeconomics: I Capital Accumulation, Growth, and Income Distribution 1. Capital Accumulation and Economic Growth (Solow and extensions) 2. Economic Growth, the Real Interest Rate and Income Distribution: the Piketty Debate II Asset Prices and Macroeconomic Stabilization 3. A Review of the Standard Short-Run Macro Model 4. Investment, Tobin’s q, and Aggregate Output 5. The New Keynesian Open-Economy Model and Swiss Exchange Rate Policy |
| Lernziele | Course objective: Introduction to key finance-related long-run and short-run issues in macroeconomics Treatment of key principles of financial economics, in particular related to time and uncertainty |
| 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: David Romer, Advanced Macroeconomics, 4th ed. 2012, Chapters 1 and 9. Thomas Piketty and Emmanuel Saez, Inequality in the Long Run, Science, 344 (6186), 838-843 Olivier Blanchard, Alessia Amighini/Francesco Giavazzi, Macroeconomics – A European Perspective, 2nd.ed. 2014, Chapter 11. Olivier Blanchard, Output, the Stock Market, and Interest Rates, American Economic Review, 71, 1981, 132-143. Wendy Carlin/David Soskice, A New Keynesian Open Economy Model for Policy Analysis, CEPR Discussion Paper No. 7979, September 2010. |
| 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 Exchange-Students have to enrol at the students administration office (studsek@unibas.ch) within the official enrolment period. Enrolment = Registration for the exam! |
| Unterrichtssprache | Englisch |
| Einsatz digitaler Medien | kein spezifischer Einsatz |
| Intervall | Wochentag | Zeit | Raum |
|---|
Keine Einzeltermine verfügbar, bitte informieren Sie sich direkt bei den Dozierenden.
| Module |
Grundlagenmodul: Advanced Topics in Economics (Master International and Monetary Economics) Kernmodul VWL (Master Wirtschaftswissenschaften) (Pflicht) Modul Ausgewählte Themen aus Ökonomie und Rechtswissenschaft (Masterstudium: Actuarial Science) Modul Internationales Zusatzwissen (Masterstudium: European Studies (Studienbeginn vor 01.02.2015)) Modul Kernbereich Wirtschaftswissenschaften für Fortgeschrittene (Master Sustainable Development) Modul Methoden der Wirtschaftswissenschaften (Masterstudium: European Global Studies) Modul Wirtschaftswissenschaftliche Grundlagen der Europäischen Integration (Masterstudium: European Studies (Studienbeginn vor 01.02.2015)) |
| Leistungsüberprüfung | Semesterendprüfung |
| Hinweise zur Leistungsüberprüfung | written exam: 19.06.2017; 14:30-16:00. HS 102: A-ENG; WWZ S15: ERN-GRA; WWZ Audi: GRO-IR; Physik: IV-NU; Vesalianum: NY-SA;.Bernoullianum: SCH-Z. The addresses of the examination halls can be found here: http://wwz.unibas.ch/studium/pruefungen/raeume/ You can still withdraw from the examination by submitting a completed, signed form to our office from 21.03.17 until 31.03.17 / 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 20.03.17, please only use MONA for withdrawing. The exam rooms will be published up to 25.05.17. |
| 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 |