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| Semester | spring semester 2023 |
| Course frequency | Every spring sem. |
| Lecturers |
Andreas Freitag (andreas.freitag@unibas.ch)
Lukas Hitz (lukas.hitz@unibas.ch) Heinz Zimmermann (heinz.zimmermann@unibas.ch, Assessor) |
| Content | This course will not be taught in-class any more. But the course material will be provided digitally. This course was part of the curriculum of the master's program according to the old study regulations (before Fall term 2021). Therefore, no in-class lecture will be offered this semester, but primarily the exam. And this is mainly intended for those students who have already attended the lecture in the last semesters and just need the exam. Course outline Part Macroeconomics: The largest part of the course Macroeconomics focuses on modern theories of macroeconomic fluctuations. Modern macroeconomics is built explicitly on microeconomic foundations. That is, the modern study and analysis of macroeconomics begins by considering how the microeconomic units, namely consumers and firms, in an economy make their decisions and then considers how the choices of these great many individuals interact with each other to yield economy-wide outcomes. We will also introduce financial markets in our model and discuss intertemporal choices. In the last part of this course, we will focus the long-run by analyzing models of economic growth. Course outline Part Finance The lecture provides an overview on some of the key topics of the theory of finance 1) Capital market under certainty: Consumption, investment, economic growth, and interest rates; Fisher separation and economic implications 2) Capital market under uncertainty: Consumption-based pricing, risk aversion, state (SDF) valuation, CAPM, arbitrage pricing with applications to options 3) Corporate financial decisions: Capital structure and cost of capital, Modigliani-Miller, contingent-claim analysis of corporate securities, over- and underinvestment, real options, pecking order theory, payout decisions |
| Learning objectives | Course objective: Introduction to key long-run and short-run issues in macroeconomics Treatment of key principles of financial economics, in particular related to time and uncertainty, and some corporate finance |
| Bibliography | Reading Part Finance (recommended, not required): Cochrane, J., Asset pricing, Princeton Univ Press, 2005 Lengwiler, Y., Microfoundations of financial economics, Princeton Univ Press, 2006 Niepelt, D., Macroeconomic models, book draft, available online (chapters 3 and 4) de Matos, J.A., Theoretical foundations of corporate finance, Princeton Univ Press, 2001 Sharpe, W., Investors and markets, Princeton Univ Press, 2008 Readings Part Macroeconomics: Williamson, Stephen “Macroeconomics”, 6th global edition. (MAIN textbook) Additional references: David Romer, Advanced Macroeconomics, 4th ed. 2012. Olivier Blanchard, Alessia Amighini/Francesco Giavazzi, Macroeconomics – A European Perspective, 2nd.ed. 2014, Chapter 11. |
| Comments | This course was part of the curriculum of the master's program according to the old study regulations (before Fall term 2021). Therefore, no in-class lecture will be offered this semester, but primarily the exam. And this is mainly intended for those students who have already attended the lecture in the last semesters. The course material will be provided digitally. |
| Weblink | Weblink to ADAM |
| Admission requirements | Completed Bachelor in Business and Economics. This course was part of the curriculum of the master's program according to the old study regulations (before Fall term 2021). Therefore, no in-class lecture will be offered this semester, but primarily the exam. And this is mainly intended for those students who have already attended the lecture in the last semesters. |
| 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, mandatory |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Tuesday | 12.15-16.00 | Wirtschaftswissenschaftliche Fakultät, Auditorium |
| Comments | This course will not be taught in-class any more. But the course material will be provided digitally. |
| Date | Time | Room |
|---|---|---|
| Thursday 29.06.2023 | 08.30-10.30 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S13 HG.35 |
| Modules |
Basic Module: Advanced Topics in Economics (Master's Studies: International and Monetary Economics) Core Module: Economics (Master's Studies: Business and Economics (Start of studies before 01.08.2021)) (Pflicht) Modul: Methoden der Wirtschaftswissenschaften (Master's Studies: European Global Studies) Module: Core Competences in Economics (Master's Studies: Sustainable Development) |
| Assessment format | record of achievement |
| Assessment details | written exam: 22.06.23; 14:30-16:00. DSBG Sporthalle: A-Z. For this exam you will still receive additional information by email. You would have to be on site at least 30 minutes before the exam starts. The addresses of the examination rooms can be found here: https://wwz.unibas.ch/de/studium/pruefungen/vorlesungs-und-pruefungsraeume/ You can still withdraw from the examination by submitting a completed, signed form to our office from 21.03.23 until 31.03.23 / 12:00 o’clock. The deregistration form and the mail address can be found on the homepage of the Dean of Studies Office: https://wwz.unibas.ch/en/studies/examinations/de-/registration-of-examinations/ Prior to 20.03.23, please deregister only in the Online Services. |
| 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 |