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49807-01 - Vorlesung: Public Sector Investment Management - Foreign Reserve Management at Central Banks (3 KP)
| Semester | Herbstsemester 2025 |
| 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 (2007-2008). |
| 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. |
| Weblink | Weblink |
| Teilnahmevoraussetzungen | 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”, Financial Markets Theory). |
| Anmeldung zur Lehrveranstaltung | Registration: Please enroll in the Online Services (services.unibas.ch); Eucor-Students and mobility students of other Swiss Universities or the FHNW first have to register at the University of Basel BEFORE the start of the course and receive their login data by post (e-mail address of the University of Basel). Processing time up to a week! Detailed information can be found here: https://www.unibas.ch/de/Studium/Mobilitaet.html After successful registration you can enroll for the course in the Online Services (services.unibas.ch). Applies to everyone: Enrolment = Registration for the course and the exam! |
| Unterrichtssprache | Englisch |
| Einsatz digitaler Medien | kein spezifischer Einsatz |
| HörerInnen willkommen |
| Intervall | Wochentag | Zeit | Raum |
|---|---|---|---|
| wöchentlich | Dienstag | 14.15-16.00 | Kollegienhaus, Seminarraum 104 |
Einzeltermine
| Datum | Zeit | Raum |
|---|---|---|
| Dienstag 23.09.2025 | 14.15-16.00 Uhr | Kollegienhaus, Seminarraum 104 |
| Dienstag 30.09.2025 | 14.15-16.00 Uhr | Kollegienhaus, Seminarraum 104 |
| Dienstag 07.10.2025 | 14.15-16.00 Uhr | Kollegienhaus, Seminarraum 104 |
| Dienstag 14.10.2025 | 14.15-16.00 Uhr | Kollegienhaus, Seminarraum 104 |
| Dienstag 21.10.2025 | 14.15-16.00 Uhr | Kollegienhaus, Seminarraum 104 |
| Dienstag 28.10.2025 | 14.15-16.00 Uhr | Kollegienhaus, Seminarraum 104 |
| Dienstag 04.11.2025 | 14.15-16.00 Uhr | Kollegienhaus, Seminarraum 104 |
| Dienstag 11.11.2025 | 14.15-16.00 Uhr | Kollegienhaus, Seminarraum 104 |
| Dienstag 18.11.2025 | 14.15-16.00 Uhr | Kollegienhaus, Seminarraum 104 |
| Dienstag 25.11.2025 | 14.15-16.00 Uhr | Kollegienhaus, Seminarraum 104 |
| Dienstag 02.12.2025 | 14.15-16.00 Uhr | Kollegienhaus, Seminarraum 104 |
| Dienstag 09.12.2025 | 14.15-16.00 Uhr | Kollegienhaus, Seminarraum 104 |
| Module |
Modul: Wahlbereich in Wirtschaftswissenschaften (Bachelor Studienfach: Wirtschaftswissenschaften) Wahlbereich innerfakultär: Zusätzliches Lehrangebot (Bachelorstudium: Wirtschaftswissenschaften) |
| Prüfung | Leistungsnachweis |
| Hinweise zur Prüfung | 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. Written exam: 16.12.25 (tbc) |
| An-/Abmeldung zur Prüfung | Anm.: Belegen Lehrveranstaltung; Abm.: stornieren |
| Wiederholungsprüfung | keine Wiederholungsprüfung |
| Skala | 1-6 0,1 |
| Belegen bei Nichtbestehen | beliebig wiederholbar |
| Zuständige Fakultät | Wirtschaftswissenschaftliche Fakultät / WWZ, studiendekanat-wwz@unibas.ch |
| Anbietende Organisationseinheit | Wirtschaftswissenschaftliche Fakultät / WWZ |