Teaching at the Institute of Money and International Finance

The teaching focus at the Institute of Money and International Finance lies on the interdependencies of economical and fiscal problems in the context of monetary policy decisions.

This includes for example the functionality of international financial markets, central banks and monetary policy decisions, financial market regulation, financial crises and the analysis of exchange rate systems and currency areas.

The relevance of this topic is especially determined by the increased interdependencies of economical and fiscal questions in the context of global financial market integration and globalization. A consequence of this development is the increased risk of the occurance of financial crises and possible spillover effects. Due to this fact, new challenges for policy makers are arising, for example in the areas of monetary policy and banking and financial market regulation.

The students will learn, how this problems at the intersection of monetary macroeconomics between finance and macroeconomics can be analyzed by using theoretical and empirical methods. The development of implications for policy makers is one of the main aspects of the offered courses.

Fields of studies which include courses offered by our institute

Bachelor

WIRTSCHAFTSWISSENSCHAFT (6 SEMESTER)

Master

WIRTSCHAFTSWISSENSCHAFT (4 SEMESTER)

WIRTSCHAFTSINGENIEUR (4 SEMESTER)

Winter term 2024/2025

Bachelor Wirtschaftswissenschaft

Kompetenzbereich Volkswirtschaftslehre, Volkswirtschaftslehre IV

Geld, Währung und Finanzmärkte (270193)

	Termine:	Lehrpersonen:
	Mi. 12:45 - 14:15 \| VII-201	Dräger
Inhalt:	Der Kurs behandelt eine Einführung zu den Akteuren im Finanzsystem und wesentlichen Fragestellungen rund um das Thema Geld- und Währungspolitik. Behandelte Themen sind: Das Finanzsystem Zinsen und Zinsstrukturkurve Zentralbanken Geldpolitische Instrumente Geldschöpfung Geldnachfrage Geldpolitischer Transmissionsmechanismus Devisenmärkte und Wechselkurse.
Literatur:	Bofinger, Peter (2001): Monetary policy: goals, institutions, strategies, and instruments Gischer, H., B. Herz und L. Menkhoff (2012) Geld, Kredit und Banken - Eine Einführung, 3. Auflage.

Termine:

Lehrpersonen:

Mi. 12:45 - 14:15 | VII-201

Dräger

Inhalt:

Der Kurs behandelt eine Einführung zu den Akteuren im Finanzsystem und wesentlichen Fragestellungen rund um das Thema Geld- und Währungspolitik.

Behandelte Themen sind:

Das Finanzsystem
Zinsen und Zinsstrukturkurve
Zentralbanken
Geldpolitische Instrumente
Geldschöpfung
Geldnachfrage
Geldpolitischer Transmissionsmechanismus
Devisenmärkte und Wechselkurse.

Literatur:

Bofinger, Peter (2001): Monetary policy: goals, institutions, strategies, and instruments
Gischer, H., B. Herz und L. Menkhoff (2012) Geld, Kredit und Banken - Eine Einführung, 3. Auflage.

Übung zu Geld, Währung und Finanzmärkte (270092)

	Termine:	Lehrpersonen:
	Mi. 16:15 - 17:45 (14-tägig) \| I-342 (Gruppe 1)	Dalloul
	Mi. 16:15 - 17:45 (14-tägig) \| Synchrone Online-Lehre (Gruppe 2)	Dalloul
	Mi. 09:15 - 10:45 (14-tägig) \| I-442 (Gruppe 3)	Dalloul
	Do. 16:15 - 17:45 (14-tägig) \| I-301 (Gruppe 4)	Eiblmeier
	Do. 12:45 - 14:15 (14-tägig) \| VII-002 (Gruppe 5)	Eiblmeier
	Do. 12:45 - 14:15 (14-tägig) \| VII-002 (Gruppe 6)	Eiblmeier
Bemerkungen:	Die fakultative Übung vertieft den Stoff der Vorlesung Geld, Währung und Finanzmärkte. Die Übung wird im 14-tägigen Rhythmus jeweils im Umfang von 90 Minuten angeboten. Alle Übungsgruppen behandeln identischen Stoff, Sie sollten also lediglich eine Übungsgruppe besuchen. Beginn der Gruppenanmeldung in Stud.IP: Do. 24.10.2024 - 09:30 Uhr.

Kompetenzbereiche Betriebs- und Volkswirtschaftslehre

Seminar: Neue Herausforderungen in der Geldpolitik (273032)

	Termine:	Lehrpersonen:
	Blockveranstaltung	Dräger, Eiblmeier
Inhalt:	Das Seminar befasst sich mit aktuellen Herausforderungen in der Geldpolitik. Mögliche Themen zur Auswahl sind: 1. Geldpolitik und Finanzstabilität 2. Folgen dauerhaft niedriger Zinsen 3. Unerwünschte und/oder unerwartete Effekte von Quantitative Easing 4. Grenzen der Forward Guidance als geldpolitisches Instrument 5. Prognosefehler von Zentralbanken 6. Geldpolitik im Digitalzeitalter 7. Geldpolitik und Klimawandel 8. Geldpolitische Reaktion auf die COVID-Krise 9. Geldpolitische Reaktion auf Angebotsschocks 10. Geldpolitik in Zeiten hoher Inflation
Literatur:	Die Eingangsliteratur wird zu Beginn des Seminars besprochen. Studierende müssen darauf aufbauend selbstständig weitere Literaturquellen recherchieren.
Bemerkungen:	Prüferin: Prof. Dr. Dräger

Master Wirtschaftswissenschaft

Kompetenzbereich (Area) Finance, Banking & Insurance

Seminar Empirical Monetary Macroeconomics (374002)

	Termine:	Lehrpersonen:
	Blockveranstaltung	Nghiem
Inhalt:	The seminar discusses empirical papers covering topics related to monetary policy. The seminar aims at students interested in conducting econometric analyses and is particularly suitable for those interested in writing an empirical Master thesis (possibly on a related topic). Some basic knowledge in econometrics and the ability to find and work with economic datasets is required, but additional introduction into the econometric techniques used in the seminar and into the program R will be given in the beginning of the semester. Students can choose from the following topics and are expected to replicate the empirical analysis in the paper or to run a similar analysis on another dataset. Students will work in groups and after the group presentation write individual seminar papers. Topics to choose from are: Analysis of optimal currency areas Estimation of Taylor rules Estimation of money demand functions Estimation of PPP and Balassa-Samuelson effect Tests for the Uncovered Interest Parity
Literatur:	The relevant literature will be discussed at the beginning of the seminar.
Bemerkungen:	Prüfer: Prof. Dr. Dräger

Financial Systems and Regulation (374031)

	Termine:	Lehrpersonen:
	Mi. 09:15 - 10:45 \| I-342	Dräger
Inhalt:	During the class, we study actors on financial markets and the risks that arise due to asymmetric information and moral hazard. We will evaluate these risks using both theoretical models and empirical evidence. Finally, the class discusses various measures of regulation in financial markets and shows how regulation can help to stabilize financial markets.
Literatur:	Information on relevant textbooks and academic articles is provided during the class.
Bemerkungen:	The exam must be written in English.

Exercise Financial Systems and Regulation (374041)

	Termine:	Lehrpersonen:
	Mi. 12:45 - 14:15 (14-tägig) \| I-332	Dalloul
Inhalt:	During the class, we study actors on financial markets and the risks that arise due to asymmetric information, causing adverse selection and moral hazard. We evaluate these risks using both theoretical models and empirical evidence, focusing on the European financial system. Finally, the class discusses various measures of regulation in financial markets and shows how regulation can help to stabilize financial markets.

Seminar Monetary Economics Using Microdata (374032)

Termine:

Lehrpersonen:

Blockveranstaltung

Nghiem

Inhalt:

The seminar discusses empirical papers covering topics related to monetary policy using household survey data. The seminar aims at students interested in conducting micro-econometric analyses to study macroeconomic questions and is particularly suitable for those interested in writing an empirical Master thesis (possibly on a related topic). Some basic knowledge in econometrics and the ability to work with economic datasets is required, but additional introduction into the econometric techniques used in the seminar and into the program R/Stata will be given in the beginning of the semester.

Students can choose from the following topics and are expected to replicate the empirical analysis in the paper or to run a similar analysis on another dataset. Students will work in groups and after the group presentation write individual seminar papers. Topics to choose from are:

The Formation of Inflation Expectations
The Response of Consumption to Macroeconomic Expectations
Estimation of Elasticity of Intertemporal Substitution
Tests for the Phillips Curve
Tests for Taylor Monetary Policy Rule

Literatur:

The relevant literature will be discussed at the beginning of the seminar.

Promotionsstudium

3. Bereich: Wissenschaftliche Kompetenzen

Doktorandenseminar Finance (574001)

Termine: Lehrpersonen:

Blockveranstaltung Dierkes, Dräger, Prokopczuk, Schneider

Inhalt:
PhD students in finance present their research projects.

	Termine:	Lehrpersonen:
	Blockveranstaltung	Dierkes, Dräger, Prokopczuk, Schneider
Inhalt:	PhD students in finance present their research projects.

Forschungsveranstaltungen

Research Seminar Financial Markets and the Global Challenges (77782)

	Termine:	Lehrpersonen:
	Mi. 11:00 - 12:30 \| I-442	Blaufus, Dierkes, Dräger, Gassebner, Prokopczuk, Schneider, Schröder, Sibbertsen, Todtenhaupt
Inhalt:	External guests present their latest research