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28807-01 - Vorlesung: Money, Banking and Payment Systems 6 KP

Semester Frühjahrsemester 2021
Angebotsmuster Jedes Frühjahrsem.
Dozierende Raja Daouah (raja.daouah@unibas.ch)
Jeremias Lenzi (jeremias.lenzi@unibas.ch)
Remo Nyffenegger (remo.nyffenegger@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 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 wöchentlich
Datum 04.03.2021 – 03.06.2021
Zeit Donnerstag, 08.15-12.00 - Online Präsenz -

The course starts with an online meeting and continues purely digitally until 25.03.21. If possible it switches to "on site in the classroom" with a simultaneous online live-stream after that.

Datum Zeit Raum
Donnerstag 04.03.2021 08.15-12.00 Uhr - Online Präsenz -, --
Donnerstag 01.04.2021 08.15-12.00 Uhr Ostern
Donnerstag 08.04.2021 08.15-12.00 Uhr - Online Präsenz -, --
Donnerstag 15.04.2021 08.15-12.00 Uhr - Online Präsenz -, --
Donnerstag 22.04.2021 08.15-12.00 Uhr - Online Präsenz -, --
Donnerstag 29.04.2021 08.15-12.00 Uhr - Online Präsenz -, --
Donnerstag 06.05.2021 08.15-12.00 Uhr - Online Präsenz -, --
Donnerstag 13.05.2021 08.15-12.00 Uhr Auffahrt
Donnerstag 20.05.2021 08.15-12.00 Uhr - Online Präsenz -, --
Donnerstag 27.05.2021 08.15-12.00 Uhr - Online Präsenz -, --
Donnerstag 03.06.2021 08.15-12.00 Uhr - Online Präsenz -, --
Module Modul Economics (ECON) II (Bachelorstudium: Wirtschaftswissenschaften)
Wahlbereich Bachelor Wirtschaftswissenschaften: Empfehlungen (Bachelor Studienfach Wirtschaftswissenschaften)
Leistungsüberprüfung Semesterendprüfung
Hinweise zur Leistungsüberprüfung Final exam and programming assignments.
written exam: 10.06.21; 15:00-16:30. The exam will take place at Messe Basel. You will receive detailed information about the procedure and admission to the exhibition hall about one week before the exam.
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 Belegen via MOnA innerhalb der Belegfrist
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