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| Semester | spring semester 2021 |
| Course frequency | Irregular |
| Lecturers | David Yermack (david.yermack@unibas.ch, Assessor) |
| Content | This course covers digital currencies, blockchains, and related topics in the FinTech area, perhaps the most significant innovation in the financial world since the advent of double-entry bookkeeping centuries ago. The technology appears to represent an existential challenge for major parts of the finance industry. It is now commonly suggested by experts such as McKinsey that commercial banks and stock exchanges may no longer exist, or may become much smaller, within the next 10 to 20 years, with increasing volumes of payments and exchange taking place on a peer to peer basis. We will begin with a study of the nature of money and legacy payment and banking systems. We will then study the emergence of stateless, cloud-based digital currency systems since 2009. Further lectures will explore threats that blockchain technology poses to incumbent firms and their resulting attempts to co-opt the technology into existing business models, and the rapid growth of digital finance firms such as Coinbase, Ant Financial, and numerous others. We survey related issues including hacking, “smart contracts,” initial coin offerings, forks, governance, decentralized finance (De-Fi), stablecoins, central bank digital currencies, and emerging regulation. |
| Comments | The course will be taught via Zoom. |
| Weblink | Weblink |
| Admission requirements | Solid understanding of business and economics on the BA level.Courses on Bitcoin, Banking Regulations and Monetary Policy on the BA level are helpful. |
| Course application | All applications have to be processed through the Summer School office. Please fill in the application form, which can be found on the weblink: https://wwz.unibas.ch/de/application-enrollment/ There will be an orientation for all Summer School courses on Thursday, 4 March 2021; 18:00 -19:00 via Zoom. The online application is open from 5 March until 29 March 2021. Applications that are submitted by 15 March (23:59) will be handled on a priority basis. For more information, please visit the Summer School website: https://wwz.unibas.ch/de/summer-school/courses/ The enrollment for the course is at the same time the final registration for the exam! If there are still vacancies, we will accept late applications until 31 May 2021. |
| Language of instruction | English |
| Use of digital media | Online course |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| Block | See individual dates | ||
| Date | Time | Room |
|---|---|---|
| Tuesday 13.07.2021 | 14.00-16.30 | - Online Präsenz -, -- |
| Wednesday 14.07.2021 | 14.00-16.30 | - Online Präsenz -, -- |
| Thursday 15.07.2021 | 14.00-16.30 | - Online Präsenz -, -- |
| Friday 16.07.2021 | 14.00-16.30 | - Online Präsenz -, -- |
| Monday 19.07.2021 | 14.00-16.30 | - Online Präsenz -, -- |
| Tuesday 20.07.2021 | 14.00-16.30 | - Online Präsenz -, -- |
| Wednesday 21.07.2021 | 14.00-16.30 | - Online Präsenz -, -- |
| Thursday 22.07.2021 | 14.00-16.30 | - Online Präsenz -, -- |
| Modules |
Core Module: Core Areas in Monetary Economics (Master's Studies: International and Monetary Economics) Module: Electives (Master's Studies: Business and Economics) Module: Interdisciplinary and Transfer of Knowledge (Master's Studies: Actuarial Science) |
| Assessment format | end-of-semester examination |
| Assessment details | 50% proof of work exercise, 50% take-home exam with essay questions. For more details: see syllabus. |
| Assessment registration/deregistration | Registration/deregistration: faculty |
| 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 |