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65938-01 - Vorlesung: Finance 6 KP

Semester Herbstsemester 2023
Angebotsmuster Jedes Herbstsemester
Inhalt This course provides an in-depth treatment of selected topics at the frontier between macro and financial economics. The course includes a self-study part based on audio-animated slides, and in-class meetings with in-depth discussions of the topics and selected papers.
Lernziele The main goals of the lecture are to understand
- the allocation of resources along the time axis: How much should an individual save? Is there an optimal amount of saving – an optimal capital stock – for the economy as a whole? Can an economy save too much? How are interest rates related to growth? Can interest rates be “too low”, and what are the consequences? We discuss the role and the determinants of interest rates – for individual households and the economy.
- the role of financial assets in the allocation of risk: Risk averse individuals command a premium for holding risky assets. How can the riskiness of an asset (stock, bond, project) be operationalized, and how is it related to the risk premium? How can assets be priced without using risk premiums? The state preference model provides interesting insights to both questions: the pricing of cash-flows using stochastic discount factors (SDF) in general markets, and the no-arbitrage principle in complete markets which can be used to price options and many corporate securities.
Literatur The course follows the textbook “Economic Foundations of Finance” written by Hens and Elmiger.
Bemerkungen In fall semester 2023 the lecturer will be Prof. Thorsten Hens (Universität Zürich) due to Prof. Yvan Lengwiler's sabbatical.
The course is organized as a combination of in-class meetings and self-study.
Weblink Further Information


Teilnahmebedingungen Basic mathematics and statistics are required, e.g. derivatives, expansions, vari-ances and covariances, linear regression. Additional material includes standard bachelor micro- and macroeconomics, e.g. indifference curves, production functions, substitution and income effect, …
Special knowledge in financial economics is not required, although advantageous. We assume that a basic course in financial markets or financial management (e.g. investments) has been taken.
Anmeldung zur Lehrveranstaltung Registration: Please enrol in the Online Services before the course starts. EUCOR-Students and students of other Swiss Universities have to enrol at the students administration office (studseksupport1@unibas.ch) within the official enrolment period. In order to get access to ADAM in time, it is best to enrol before the course starts though.
Enrolment = Registration for the exam!
Unterrichtssprache Englisch
Einsatz digitaler Medien kein spezifischer Einsatz


Intervall wöchentlich
Datum 19.09.2023 – 28.11.2023
Zeit Dienstag, 16.15-20.00 Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Datum Zeit Raum
Dienstag 19.09.2023 16.15-20.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Dienstag 03.10.2023 16.15-20.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Dienstag 10.10.2023 16.15-20.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Dienstag 17.10.2023 16.15-20.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Dienstag 24.10.2023 16.15-20.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Dienstag 21.11.2023 08.30-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31
Dienstag 28.11.2023 08.30-12.00 Uhr Wirtschaftswissenschaftliche Fakultät, Auditorium
Module Grundlagenmodul: Advanced Topics in Economics (Masterstudium: International and Monetary Economics)
Modul: Ausgewählte Themen aus Ökonomie und Rechtswissenschaft (Masterstudium: Actuarial Science)
Modul: Fundamentals in Finance and Money (Masterstudium: Finance and Money)
Modul: Specific Electives in Finance, Controlling, Banking (Masterstudium: Wirtschaftswissenschaften)
Leistungsüberprüfung Examen
Hinweise zur Leistungsüberprüfung The course is worth 6 ECTS credit points. Grading is based on a 90-minutes written exam at the end of the lecture. The exam is closed-book (no electronic devices permitted).
Date of the exam: tbd

For courses with a main lecture exam, a repeat exam is offered in addition to the regular examination date.This repeat examination can only be taken if the student has taken part in and failed the regular examination (grade < 4.0) see English translation of the study guide of our master programs by December 13, 2021: Paragraph
An-/Abmeldung zur Leistungsüberprüfung Anm.: Belegen Lehrveranstaltung; Abm.: stornieren
Wiederholungsprüfung eine Wiederholung, bester Versuch zählt
Skala 1-6 0,1
Wiederholtes Belegen einmal wiederholbar
Zuständige Fakultät Wirtschaftswissenschaftliche Fakultät / WWZ, studiendekanat-wwz@unibas.ch
Anbietende Organisationseinheit Wirtschaftswissenschaftliche Fakultät / WWZ