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

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 wöchentlich
Datum 24.02.2022 – 02.06.2022
Zeit 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 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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