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49807-01 - Vorlesung: Public Sector Investment Management - Foreign Reserve Management at Central Banks 3 KP

Semester Herbstsemester 2021
Angebotsmuster Jedes Herbstsemester
Dozierende Jacob Bjorheim (jacob.bjorheim@unibas.ch, BeurteilerIn)
Inhalt The public sector (Central Banks, Sovereign Wealth Funds, etc) holds large portfolios of assets and is an active participant in global financial markets. The management of such investment portfolios involves decisions not only about their purpose, size and funding but also about which investment strategies should be applied.

This one-semester course focus on the practical side of managing investment portfolios from a public sector point of view. We will discuss the framework and policy set-up for such portfolios and in particular focus on how Central Banks manages their “Foreign Currency Reserves” in a balance sheet context. This activity has evolved rapidly since the turn of the millennium not only because of the accumulation of reserves (size) and the asset composition (asset allocation), but also as a direct outcome of the Global Financial Crisis and the COVID 19 pandemic.
Lernziele The purpose of this weekly course is to extend a student’s knowledge beyond traditional investment/portfolio/asset management practices towards the investment management function of the public sector and in particular that of central banks. With recent examples and case studies, the course enables students to understand how the public sector currently invests its portfolios.
Literatur Course material will be provided through the ADAM website. A general reading reference is (1) the publication by the Bank for International Settlements (BIS): “FX reserve management: trends and challenges”, and (2) specific, country relevant practices such as the publication: “Management of Foreign Reserves at the Central bank of Chile. In addition, we will read papers published in leading economic journals highlighting classic and contemporary thinking. Finally, since the topic of this course has a high degree of actuality and practicality, we will discuss, over the course of the semester, comments that we collect, ad-hoc, from newspapers, journals, blogs and central banks comments.
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Teilnahmebedingungen Students will benefit from having participated in or having passed exams related to Economics and Finance (for example “Einführung in die Finanzmärkte”, "Intermediate Micro/Macroeconomics", “Finanzmarkttheorie 1/2”).
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
HörerInnen willkommen

 

Intervall wöchentlich
Datum 22.09.2021 – 08.12.2021
Zeit Mittwoch, 10.15-12.00 Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31

The course is planned as an in-class course, if necessary it will be offered in hybrid form, i.e. with a simultaneous livestream or as an online presence course.

Datum Zeit Raum
Mittwoch 22.09.2021 10.15-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Mittwoch 29.09.2021 10.15-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Mittwoch 06.10.2021 10.15-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Mittwoch 13.10.2021 10.15-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Mittwoch 20.10.2021 10.15-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Mittwoch 27.10.2021 10.15-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Mittwoch 03.11.2021 10.15-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Mittwoch 10.11.2021 10.15-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Mittwoch 17.11.2021 10.15-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Mittwoch 24.11.2021 10.15-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Mittwoch 01.12.2021 10.15-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Mittwoch 08.12.2021 10.15-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Module Modul: Wahlbereich in Wirtschaftswissenschaften (Bachelor Studienfach Wirtschaftswissenschaften)
Wahlbereich Bachelor Wirtschaftswissenschaften: Empfehlungen (Bachelor Studienfach Wirtschaftswissenschaften (Studienbeginn vor 01.08.2021))
Wahlbereich Bachelor Wirtschaftswissenschaften: Empfehlungen (Bachelorstudium: Wirtschaftswissenschaften (Studienbeginn vor 01.08.2021))
Wahlbereich innerfakultär: Zusätzliches Lehrangebot (Bachelorstudium: Wirtschaftswissenschaften)
Leistungsüberprüfung Leistungsnachweis
Hinweise zur Leistungsüberprüfung Every weekly session has a different topic. During the first hour, the lecturer will introduce the topic before one or more students are given the opportunity to present an academic paper that has been chosen for the session. The papers we are going to read will be posted in ADAM ahead of semester-begin and the students will be asked to select which paper they want to present in class. The presentation will be up to 20 minutes leaving time for debate. It is expected that all students have read the weekly paper and actively participate in the discussion. Students will also write a one-hour exam (graded) in the final week of the course (08.12.21).

An-/Abmeldung zur Leistungsüberprüfung An-/Abmelden: Belegen resp. Stornieren der Belegung via MOnA
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

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