monetary economics and finance.

The students should be able to grasp the evolution of the international financial system in the past two decades by using various tools. The main tool is the analysis of financial institutions balance sheets across different periods as well as that of the central banks. Another tool is the institutional and historical context which can be studied in reports and essays.
At the end of the course the student should be able to assess the effects of different policy measures by the central bank on the financial markets and to show graphically with the use of interconnected T accounts how these measures are transmitted.

The course deals with:
1)Description of the evolution of the markets and of financial instruments in the last
decade.
2)examples to understand why certain financial derivatives have been used in the past and the consequences of their use for financial and macroeconomic stability.
3) the debate on the lender of last resort function of the central bank and unconventional monetary policies.

The program consists of of a selection of essays on the themes of the course, namely financial crises and proposals of reforms. The list of essays, will be distributed during the lessons. Some of them can be freely downloaded from the internet, others will be provided by the teacher.

The materials will be available on the TEAMS website of the course.

• Lessons open to interactive participation by students
  
  

• oral exam
  

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