Die Master-Vorlesung Development of Financial Markets and Institutions findet im Wintersemester statt.
Dozent: Dr. Kristoffer Mousten Hansen
Start: 09.10.2023
Datum Vorlesung: Monday, 13.15 - 14.45
Datum Seminar: Freitag, 17.11.23, 15.12.23, 19.01.24, 26.01.24, 11.15 - 17.00
Raum: Seminarraum 8 - I132 I1.001(Vorlesung)/ Hörsaal 17 M2.028 (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. Required readings will be uploaded to moodle before each lecture. Students should 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.
Slides
| Slides | Date | |
|---|---|---|
| 1. | Introduction | 09.10.23 |
2. | Early Financial Markets and early Bubbles | 16.10.23 |
3. | Early European and American Financial Development | 23.10.23 |
4. | Origins of Central Banking | 30.10.23 |
5. | Globalization and the Gold Standard | 06.11.23 |
6. | The Great Depression Slides | 13.11.23 |
7. | Financial Liberalization and Integration | 20.11.23 |
8. | The Free Banking Debate | 27.12.23 |
9. | Inflation vs. Deflation | 11.12.23 |
10. | Finance and Economic Growth | 18.12.23 |
11. | The Crisis of 2008 and other Financial Crises | 08.01.24 |
12. | Financial Market Regulation and Shadow Banking | 15.01.24 |
13. | Monetary Reform Proposals | 22.01.24 |
14. | Cryptocurrency and Central Bank Digital Currencies SLIDES | 29.01.24 |
Seminar Dates
| Date | Time | |
|---|---|---|
1. | 17.11.2023 | 11:15 – 17:00 |
2. | 15.12.2023 | 11:15 – 17:00 |
3. | 19.01.2024 | 11:15 – 17:00 |
4. | 26.01.2024 | 11:15 – 17:00 |