Experimental Methods of Economics (Nachholklausur)

Dozent/in:

Eva Camacho Cuena

Angaben:

Sonstige Lehrveranstaltung, 1 SWS, ECTS: 6

Termine:

Einzeltermin am 5.2.2016, 16:00 - 17:30, F21/02.55

Financial Engineering and Systemic Risk

Dozent/in:

Ilfan Oh

Angaben:

Vorlesung, 2 SWS, ECTS: 6

Termine:

Mi, 18:00 - 20:00, FG1/00.08

Inhalt:

This course deals with the risks that emanate from modern financial markets and their regulation. The central question is how these risks, their regulation, and the institutional framework itself can actually contribute to the creation of “systemic” risk, resulting in historically recurring economy-wide crises. The first course in the sequence takes a closer look at the challenges that monetary policy faces in light of endogenous money creation, which are compounded by the presence of derivative securities that allow for the synthetic replication of traditional bank loans. We will consider whether or how banks’ off-balance sheet transactions can circumvent the national regulatory and taxation frameworks, and what the implications for the respective national central banks are in their function as so-called lenders of last resort. A second important aspect of this course deals with financial innovation in the syndication of loans or other debt obligations (ABS, MBS, CDO, CLO), and their role in the recent crisis. The main purpose of the course is to familiarize students with the basic notion of synthetic replication in financial markets, and to carefully explain how this replication leads to new challenges for central bank policy and financial regulation. The importance of “cheap liquidity” in financial crises is emphasized throughout the course.

Empfohlene Literatur:

P. HOWELLS AND K. BAIN, The Economics of Money, Banking and Finance, Prentice Hall, 2008 (4th edition).

F.S.MISHKIN AND S.G. EAKINS, Financial Markets and Institutions, Pearson, 2012 (7th edition).

S. NEFTCI, Principles of Financial Engineering, Elsevier AP, 2008 (2nd edition).

C.M. REINHART AND K.S. ROGOFF, This Time Is Different, Princeton UP, 2009.

International Financial Markets

Dozent/in:

Ilfan Oh

Angaben:

Vorlesung und Übung, 2 SWS

Termine:

Do, 16:00 - 18:00, F21/03.84

Inhalt:

This course deals with selected topics in the theory and practice of international finance, for instance dealing with the ‘three generations’ of models aimed at explaining currency crises.
Topics include (but are not limited to) the following:
• Trading volume and organization of international financial markets
• Foreign exchange markets and macroeconomic theory
• Speculation, excess volatility, and stabilization of the exchange rate
• Exchange rate target zones (such as the European Monetary System EMS)
• Exchange rate crises and speculative attacks

Empfohlene Literatur:

K. PILBEAM, International Finance, Palgrave Macmillan, current edition.
N. C.MARK, International Macroeconomics and Finance, Blackwell, 2001