22-10.204 Economics of Money and Banking

Veranstaltungsdetails
Lehrende: Dr. Thanh Son Pham
Veranstaltungsart:
Vorlesung + Übung
Anzeige im Stundenplan:
Semesterwochenstunden:
3
Credits:
6,0
Unterrichtssprache:
Englisch
Min. | Max. Teilnehmerzahl:
- | 75
Kommentare/ Inhalte: Recent events such as the recent financial crisis and ensuing Great Recession have highlighted the important connection between finance and macroeconomics. We first discuss the basic business of banking and focuses on bank balance sheets. There we also discuss how banking has changed in the last several decades, discussing the rise of a so-called "shadow banking" sector. We next study the creation of money and define terms like the monetary base and the money multiplier. We also investigate the usefulness of the liquidity transformation in which financial intermediaries engage and the sensitivity of financial intermediaries to runs. To that end, we provide a simplified exposition of the classic \textbf{Diamond and Dybvig (1983)} model of bank runs and policies to reduce the frequency and severity of banking panics and provide some historical context. In addition, we revisit the asset pricing in the context of a microeconomically founded consumption capital asset pricing model (CAPM) based on the stochastic discount factor. The concept of a yield curve is introduced and the expectations hypothesis, as well as the expectations hypothesis allowing for a term premium, are discussed. We include a discussion comparing and contrasting conventional and unconventional monetary policy. Finally, we discuss the concept of the equity premium and uses out modeling framework to argue why one ought to expect stocks to return more (in expectation) than riskless government bonds. We also define and discuss bubbles and present some empirical evidence related to bubbles.


Concepts

1. The Basics of Banking
2. The Money Creation Process
3. A Model of Liquidity Transformation and Bank Runs
4. Bond Pricing and the Risk and Term Structures of Interest Rates 
5. The Stock Market and Bubbles 
6. Financial Factors in a Macro Model
7. Financial Crises and The Great Recession
 
Lernziel: The course focuses on the issues of money and monetary policy implementation in the closed economy contexts. The aims and objectives of the course are as follows

• Understanding the theories that relate to the existence of money and modern  banking system, 

• Developing a number of macroeconomic models integrating with the banking system through which macoreconomic policy can be evaluated.

• Understanding about financial frictions and private agents' decision.
 
Vorgehen: Classroom teaching and learning
Literatur: Main reading

Garin, Lester and Sims, Intermediate Macroeconomics, 2021. Part VI.
Zusätzliche Hinweise zu Prüfungen: A 2-hour (technically last 90 minutes) closed-book exam.
Übersicht der Kurstermine
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Lehrende
Dr. Thanh Son Pham
Termine
Datum Von Bis Raum Lehrende Termine
1
Datum Mo, 16. Okt. 2023
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
2
Datum Mo, 23. Okt. 2023
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
3
Datum Mo, 30. Okt. 2023
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
4
Datum Mo, 6. Nov. 2023
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
5
Datum Mo, 13. Nov. 2023
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
6
Datum Mo, 20. Nov. 2023
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
7
Datum Mo, 27. Nov. 2023
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
8
Datum Mo, 4. Dez. 2023
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
9
Datum Mo, 11. Dez. 2023
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
10
Datum Mo, 18. Dez. 2023
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
11
Datum Mo, 8. Jan. 2024
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
12
Datum Mo, 15. Jan. 2024
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
13
Datum Mo, 22. Jan. 2024
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
14
Datum Mo, 29. Jan. 2024
Bis 14:00
Bis 17:00
Raum WiWi 2095/2197
Lehrende Dr. Thanh Son Pham
Prüfungen im Rahmen von Modulen
Modul(Startsemester)/ Kurs Leistungs­kombination Prüfung Datum Lehrende Bestehens­pflicht
22-1.Profil39 Economics of Money and Banking (WiSe 22/23) / 22-1.profil39 Economics of Money and Banking Klausur 3 Klausur Mo, 5. Feb. 2024, 11:15 - 12:45 Dr. Thanh Son Pham Ja
4 Klausur Di, 26. Mär. 2024, 12:15 - 13:45 Dr. Thanh Son Pham Ja
22-1.Profil39 Economics of Money and Banking (WiSe 21/22) / 22-1.profil39 Economics of Money and Banking Klausur 5 Klausur Mo, 5. Feb. 2024, 11:15 - 12:45 Dr. Thanh Son Pham Ja
6 Klausur Di, 26. Mär. 2024, 12:15 - 13:45 Dr. Thanh Son Pham Ja
22-1.Profil39 Economics of Money and Banking (WiSe 23/24) / 22-1.profil39 Economics of Money and Banking Klausur 1 Klausur Mo, 5. Feb. 2024, 11:15 - 12:45 Dr. Thanh Son Pham Ja
2 Klausur Di, 26. Mär. 2024, 12:15 - 13:45 Dr. Thanh Son Pham Ja
SowiLA-05a_VLAngVWL Wahlpflichtvorlesung Angewandte Volkswirtschaftslehre (berufliche Fachrichtung Wirtschaftswissenschaften) (WiSe 14/15) / SowiLA05a-VLAngVWL Economics of Money and Banking Klausur 37 Klausur Mo, 5. Feb. 2024, 11:15 - 12:45 Dr. Thanh Son Pham Ja
38 Klausur Di, 26. Mär. 2024, 12:15 - 13:45 Dr. Thanh Son Pham Ja
SowiLA-08a_Makro Makroökonomik bzw. angewandte Makroökonomie (SoSe 21) / WiWi13 Economics of Money and Banking Klausur 11 Klausur Mo, 5. Feb. 2024, 11:15 - 12:45 Dr. Thanh Son Pham Ja
12 Klausur Di, 26. Mär. 2024, 12:15 - 13:45 Dr. Thanh Son Pham Ja
Veranstaltungseigene Prüfungen
Beschreibung Datum Lehrende Pflicht
1. Klausur Mo, 5. Feb. 2024 11:15-12:45 Dr. Thanh Son Pham Ja
2. Klausur Di, 26. Mär. 2024 12:15-13:45 Dr. Thanh Son Pham Ja