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48132-01 - Colloquium: Monetary Policy after The Global Financial Crisis: Lessons from History? (6 CP)
| Semester | spring semester 2022 |
| Course frequency | Every spring sem. |
| Lecturers | Philip Turner (philip.turner@unibas.ch, Assessor) |
| Content | This kolloquium analyses a new revolution in monetary policy, drawing also on earlier theories of money. Three huge shocks – the GFC, the near-collapse of the euro and COVID-19 – led central banks on a path of unprecedented balance sheet expansion. What challenges do central banks face now? In this course, understanding these policies and challenges is helped both by finance theory and by knowledge of earlier monetary policy frameworks. |
| Bibliography | There is no course textbook. Begin with chapter 1 of Philip Turner (2021) The new monetary policy revolution: advice and dissent. NIESR Occasional Paper and Allen, Chadha and Turner “Quantitative Tightening: protecting monetary policy from fiscal encroachment” NIESR Policy Paper 27, 28 July. Further readings will be suggested for each lecture and posted in ADAM. These readings will include the texts of speeches by central bank governors and senior officials because such speeches often contain very useful and clear economic analysis of live issues facing central banks. Read “Monetary policy in a world of radical uncertainty” a speech by Mervyn King. Institute of International Monetary Research Conference Paper. November 2021. |
| Weblink | Weblink to ADAM |
| Admission requirements | Prerequisites: Bachelor in Business and Economics. |
| Course application | 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! |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Monday | 12.15-14.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S16 HG.39 |
| wöchentlich | Tuesday | 08.30-10.00 | - Online Präsenz - |
| Comments | The classes will start as online-classes until end of March. How it continues after that depends on the framework conditions and will be announced in due time. |
Dates
| Date | Time | Room |
|---|---|---|
| Monday 21.02.2022 | 12.30-14.00 | - Online Präsenz -, -- |
| Tuesday 22.02.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 28.02.2022 | 12.30-14.00 | - Online Präsenz -, -- |
| Tuesday 01.03.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 07.03.2022 | 12.15-14.00 | Fasnachtsferien |
| Tuesday 08.03.2022 | 08.30-10.00 | Fasnachtsferien |
| Monday 14.03.2022 | 12.30-14.00 | - Online Präsenz -, -- |
| Tuesday 15.03.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 21.03.2022 | 12.30-14.00 | - Online Präsenz -, -- |
| Tuesday 22.03.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 28.03.2022 | 12.30-14.00 | - Online Präsenz -, -- |
| Tuesday 29.03.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 04.04.2022 | 12.30-14.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S16 HG.39 |
| Tuesday 05.04.2022 | 08.30-10.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31 |
| Monday 11.04.2022 | 12.30-14.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S16 HG.39 |
| Tuesday 12.04.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 18.04.2022 | 12.15-14.00 | Ostern |
| Tuesday 19.04.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 25.04.2022 | 12.30-14.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S16 HG.39 |
| Tuesday 26.04.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 02.05.2022 | 12.30-14.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S16 HG.39 |
| Tuesday 03.05.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 09.05.2022 | 12.30-14.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S16 HG.39 |
| Tuesday 10.05.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 16.05.2022 | 12.30-14.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S16 HG.39 |
| Tuesday 17.05.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 23.05.2022 | 12.30-14.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S16 HG.39 |
| Tuesday 24.05.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 30.05.2022 | 12.30-14.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S16 HG.39 |
| Tuesday 31.05.2022 | 08.30-10.00 | - Online Präsenz -, -- |
| Modules |
Core Module: Core Areas in Monetary Economics (Master's Studies: International and Monetary Economics) Modul: Europäisierung und Globalisierung (Master's Studies: European Global Studies) Module: Specific Electives in Monetary Economics and Financial Markets (Master's Studies: Business and Economics) Specialization Module: Monetary Economics and Financial Markets (Master's Studies: Business and Economics (Start of studies before 01.08.2021)) |
| Assessment format | record of achievement |
| Assessment details | The course will require that students take an active part in discussing what are live and controversial questions. Students will be invited to prepare a very short presentation (10 minutes) on one article or a section of a book relevant to a theme. They should explain the point of the article and should say on what they agree or disagree. They can suggest a few key questions for the class to discuss. Making presentations is an active way of learning both individually and from others, and is an important skill to acquire for any job. This will not be graded and students should feel relaxed about it. Each student will be asked to write an essay on a topic/question drawn from a list covering the six themes (60% of the grade), and give a 20-minute talk on that essay (20% of the grade). Not more than 4000 words plus a few well-chosen graphs and tables. Each student should feel free to discuss this essay with the lecturer at any stage. 20% of the grade will be for class participation. |
| Assessment registration/deregistration | Reg.: course registration, dereg: cancel course registration |
| Repeat examination | no repeat examination |
| Scale | 1-6 0,1 |
| Repeated registration | as often as necessary |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |