Back
| Semester | spring semester 2021 |
| 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 chapter 2 of Richard Barwell et al (2020) Monetary policy in troubled times: new governor, new agenda. NIESR Occasional Paper. 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. Two articles to start with are: Agustin Carstens, “Monetary policy: 10 years after the financial crisis.” (Basler Bankers Forum, 5 September 2019). The second is Steven Kamin: “Short-term progress and longer-term challenges for the Federal Reserve” American Enterprise Institute, 28 September 2020. |
| 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 | Online course |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Monday | 16.30-18.00 | - Online Präsenz - |
| wöchentlich | Tuesday | 08.30-10.00 | - Online Präsenz - |
| Comments | The course will be taught online at the dates you can see below: |
| Date | Time | Room |
|---|---|---|
| Monday 01.03.2021 | 16.30-18.00 | - Online Präsenz -, -- |
| Tuesday 02.03.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 08.03.2021 | 16.30-18.00 | - Online Präsenz -, -- |
| Tuesday 09.03.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 15.03.2021 | 16.30-18.00 | - Online Präsenz -, -- |
| Tuesday 16.03.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 22.03.2021 | 16.30-18.00 | - Online Präsenz -, -- |
| Tuesday 23.03.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 29.03.2021 | 16.30-18.00 | - Online Präsenz -, -- |
| Tuesday 30.03.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 05.04.2021 | 16.30-18.00 | Ostern |
| Tuesday 06.04.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 12.04.2021 | 16.30-18.00 | - Online Präsenz -, -- |
| Tuesday 13.04.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 19.04.2021 | 16.30-18.00 | - Online Präsenz -, -- |
| Tuesday 20.04.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 26.04.2021 | 16.30-18.00 | - Online Präsenz -, -- |
| Tuesday 27.04.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 03.05.2021 | 16.30-18.00 | - Online Präsenz -, -- |
| Tuesday 04.05.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 10.05.2021 | 16.30-18.00 | - Online Präsenz -, -- |
| Tuesday 11.05.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 17.05.2021 | 16.30-18.00 | - Online Präsenz -, -- |
| Tuesday 18.05.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 24.05.2021 | 16.30-18.00 | Pfingstmontag |
| Tuesday 25.05.2021 | 08.30-10.00 | - Online Präsenz -, -- |
| Monday 31.05.2021 | 16.30-18.00 | - Online Präsenz -, -- |
| Tuesday 01.06.2021 | 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) Specialization Module: Monetary Economics and Financial Markets (Master's Studies: Business and Economics) |
| Assessment format | end-of-semester examination |
| 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 (7 to 10 minutes) on one article or a section of a book relevant to a theme. They should explain the point of the article is 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 (50% of the grade), and give a 15-minute talk on that essay (25% 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. 25% of the grade will be for class participation. |
| Assessment registration/deregistration | Registration: 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 |