Die Master-Vorlesung Development of Financial Markets and Institutions findet im Wintersemester statt.

Dozent: Kristoffer Mousten Hansen
Start: 11.10.2021
Datum: Montag, 15:15 - 16:45 (der 8.11. ist einmalig auf Donnerstag 11.11., 9:15-10:45, in den Seminarraum 12 verlegt)
Raum: Seminarraum 16 - I315 I3.023 (Vorlesung)/ Seminarraum S205 S 2.103 (Seminar)
Sprache: Englisch
Credits: 10 ECTS, Projektarbeit: Präsentation (25 Min.) mit schriftlicher Ausarbeitung (5 Wochen)
Modul Nummer: 07-202-3319

Outline

This course on the development of financial markets and institutions covers important aspects of monetary and financial history as well as key issues in the theory of money and credit. The main topics include the nature and origins of financial markets and institutions, the origins of money, the links between money and finance – theoretical, historical, and institutional – and the relationship between finance and economic development. The nature of economic crises and their recurrence through history will also be a key theme.

The course is reading intensive and students are encouraged to read the required readings before each lecture and be prepared to discuss the literature in class.

Requirements

There are no requirements for attending the class. The grade is based on a research paper of at least 5,000 words and a presentation in our seminar in January. The topic for the paper and presentation must be cleared with me by the beginning of December.

Literatur

Background readings

J. B. Baskin and P. J. Miranti, A History of Corporate Finance, Cambridge, 1999.
B. Eichengreen, Globalizing Capital: A History of the International Monetary System, Princeton, 2008.
L. von Mises, The Theory of Money and Credit, Part I, chaps. 1, 3 and 4, and Part III, chaps. 1 and 2, Yale University Press, 1953.

Further suggestions

N. Ferguson, The Ascent of Money: A Financial History of the World, Allen Lane, 2008.
L. Neal, The Rise of Financial Capitalism, Cambridge University Press, 1993.
E. Chancellor, The Devil Take the Hindmost – A History of Financial Speculation, Farrar Straus Giroux, 1999.
R. I. McKinnon, The Unloved Dollar Standard, Oxford University Press, 2013.
Ed. Stringham, Private Governance, Oxford University Press, 2016.
G. Davies, A History of Money: From Ancient Times to the Present Day, University of Wales Press, 1994.
J. G. Hülsmann, The Ethics of Money Production, Ludwig von Mises Institute, 2008.
Th. Mayer, Austrian Economics, Money and Finance, Routledge, 2017.
L. H. White, The Theory of Monetary Institutions, Blackwell, 1999.
F. S. Mishkin, The Economics of Money, Banking, and Financial Markets, Pearson, 2019.

Lecture: Reading Lists and Slides

  Reading Lists and Slides Date
1.

Introduction (Reading List, Slides)

11.10.21

2.

Early Financial Markets and early Bubbles (Reading List, Slides) 20.10.21

3.

Early European and American Financial Development (Reading List, Slides) 25.10.21

4.

Origins of Central Banking (Reading List, Slides) 01.11.21

5.

Globalization and the Gold Standard (einmalig auf Donnerstag den 11.11., 9:15-10:45, Seminarraum 12 verlegt) (Reading List, Slides) (08.11.21)
11.11.21

6.

The Great Depression (Reading List, Slides) 15.11.21

7.

Financial Liberalization and Integration (Reading List, Slides) 22.11.21

8.

Finance and Economic Growth (Reading List, Slides) 29.11.21

9.

The Crisis of 2008 and other Financial Crises (Reading List, Slides) 06.12.21

10.

Financial Market Regulation and Shadow Banking (Reading List, Slides) 13.12.22

11.

Inflation vs. Deflation (Reading List, Slides) 03.01.22

12. 

The Free Banking Debate (Reading List, Slides) 10.01.22

13.

Monetary Reform Proposals (Reading List, Slides) 17.01.22

14.

Cryptocurrency and Central Bank Digital Currencies (Reading List, Slides) 24.01.22

15.

Q & A and Free Discussion 31.01.22

Seminar Dates

 

Date

Time

1.

19.01.22

9:00 – 19:00

2.

20.01.22

9:00 – 19:00

3.

21.01.22

9:00 – 19:00

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