Universität Wien
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040096 UK Special Topics in Banking and Finance: Financial Markets (BA) (2020W)

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften
Continuous assessment of course work
Moodle

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).

Details

max. 32 participants
Language: English

Lecturers

Classes (iCal) - next class is marked with N

It is OBLIGATORY to attend the first meeting at Oct. 5th.

The final takes place digitally at Monday, Jan. 25th, 2021.

The course takes place in the lecture hall; if classroom teaching should not be possible due to stricter Covid19 regulations, the course will be held digitally. (as of July 2020)

According to new regulations as of Sep. 29th , the FIRST meeting will take place online on Moodle (via Collaborate or via BBB) so that all admitted participants on the attendance list can attend.

As long as feasible, there will be on-site meetings about every 2-3 weeks for in-class tutorials and exercise sessions. The first such meeting will take place at Oct. 19. (Note that the seating in the lecture hall is strictly pre-arranged.)
Any further information will be communicated via Moodle and in the first lecture.

  • Monday 05.10. 09:45 - 11:15 Digital
    Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 12.10. 09:45 - 11:15 Digital
    Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 19.10. 09:45 - 11:15 Digital
    Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 09.11. 09:45 - 11:15 Digital
    Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 16.11. 09:45 - 11:15 Digital
    Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 23.11. 09:45 - 11:15 Digital
    Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 30.11. 09:45 - 11:15 Digital
    Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 07.12. 09:45 - 11:15 Digital
    Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 14.12. 09:45 - 11:15 Digital
    Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 11.01. 09:45 - 11:15 Digital
    Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 18.01. 09:45 - 11:15 Digital
    Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 25.01. 09:45 - 11:15 Digital

Information

Aims, contents and method of the course

Main objectives
This third-year course provides an introduction into topical issues in the field of banking and finance. It aims at building a bridge between theoretical and methodological knowledge acquired in the first years to real world markets and applications. Current topics of interest include financial crises and the role of banks. Why do markets fail and how can prudential regulation improve their performance and resilience?
The course also serves as the basis for more advanced research, which may take the form of a bachelor thesis or even continued studies in form of subsequent master program in finance. Certain topics would lend themselves easily to bachelor theses in the general field of banking and finance.

Course outline
1. Introduction
2. Main functions of the financial system
- intertemporal transfers
- insurance and hedging
- information production
3. Financial markets and the pricing of risk
- review: CAPM
- anomalies
- illiquidity and private information
4. The role of financial intermediaries
- banking functions
- banking risks
- financing of (risky) innovations
5. Topical issues
- Banking regulation
- Bank networks and systemic risk
- Securitization and financial innovation
- High frequency trading and systemic risk

Assessment and permitted materials

Tasks
You have to
- prepare the lectures by reading the suggested literature,
- study the slides and handouts,
- attend every class meeting and participate actively in discussion.

In case you cannot participate physically in class you may be given extra quizzes to make up for the opportunities to participate. The same applies, when the streaming possibilities are not operational.

Minimum requirements and assessment criteria

Prerequisite: prior introduction to financial markets (e.g. ABWL Finanzwirtschaft, or equivalent)

Grading
Your grade will depend on
- answers on quizzes (30%),
- your answers to the questions of the final exam (50%), as well as
- your active participation in class (20%).

If physical class participation is not possible because of the pandemic situation, you may request online interviews by email in order to substitute for the class participation.

Examination topics

Active knowledge of topics covered in lecture slides and related literature is required.

Reading list

Charles Calomiris and Gary Gorton: The Origins of Banking Panics: Models, Facts and Bank Regulation, in Glenn Hubbard (ed.): Financial Markets and Financial Crises, University of Chicago Press, January 1991.

Anna Cieslak, Morse Adair and Annette Vissing-Jorgensen: Stock Returns over the FOMC Cycle, Working Paper, Oct. 2015.

Franklin Allen and Douglas Gale, Comparing Financial Systems, MIT Press.

Thomas Gehrig: Capital, Trust and Competitiveness in the Banking Industry, CEPR-DP 9348, London, Feb. 2013.

Thomas Gehrig: Changing Business Models in Banking and Systemic Risk, in H. Albach, H. Meffert, A. Pinkwart, H. Reichwald (Hrsg): Management of Permanent Change in Firms and Markets, Springer-Gabler, 2015.

Jacob de Haan, Sander Oosterloo and Dirk Schoenmaker: Financial Markets and Institutions: A European Perspective, Cambridge University Press, 2nd edition 2012.

Charles Kindleberger: Manias, Panics, Crashes, A History of Financial Crises, NY, Basic Books, 1978.

Sam Langfield and Marco Pagano, Bank Bias in Europe: Effects on Systemic Risk and Growth, ECB Working Paper 1797, May 2015.

Frederic S. Mishkin, The Economics of Money, Banking and Financial Markets, Business School Edition,11th ed., Pearson: Harlow, Engl., 2015.

Association in the course directory

Last modified: Fr 12.05.2023 00:12