Macro-Finance

This course examines the evolving role of money, financial institutions, and markets in light of the profound changes brought about by global financial crises. It explores how these crises have reshaped the practice, regulation, and analysis of banking, placing particular emphasis on their transformative effects on both domestic and international financial systems. Students will gain an understanding of core concepts, including the creation and management of money, the role of central banks, and the functions of commercial and investment banks. The course delves into how financial crises—such as the 2008 Global Financial Crisis and the COVID-19 economic shock—have exposed systemic vulnerabilities, leading to new approaches in risk management, regulatory frameworks, and monetary policy implementation. Key topics include the role of liquidity and solvency in crises, the development of macroprudential regulation, and the changing nature of financial intermediation in a digital age. Case studies and empirical data will be used to analyze the impact of crises on banking practices, financial stability, and economic growth. Designed for students interested in finance, economics, or public policy, this course equips participants with the tools to critically evaluate the future of banking in an increasingly interconnected and crisis-prone global economy.

This course introduces the institutions and instruments of the Chinese financial system as well as relevant macroeconomic policy tools as they play a role in the broader Chinese economy. The goal of the course is to provide students with a comprehensive understanding based on monetary and financial economics from a comparative and historical standpoint. The teaching proceeds in three stages: (1) introductory redux in monetary and financial economics (2) historical and comparative overview of the evolution of China’s financial system and macroeconomic policy in the context of international financial arrangements (3) in-depth analysis of current topics in the field. Some of the topics covered include the Chinese banking system, RMB exchange rates, Chinese stock markets and bond markets, mutual fund and hedge fund industry, security dealers and money markets, Chinese derivative markets, green finance arrangements, real estate markets and state owned companies. The similarities and differences between Chinese financial markets and more developed financial markets will be highlighted.

Blockchain technology is a scientific innovation combining insights from economics, finance, and computer science, which are fields of study that are concrete yet also highly abstract. Understanding blockchain technology, thus, presents an intellectual challenge in itself. However, mastering blockchain technology is also an urgent task because blockchain enables new financial technologies and applications, most prominently cryptocurrencies, which will have wide ranging impacts on monetary and payments systems, financial markets, banking and business, but also will affect culture and the arts as well as the law and governance. In this course, you will learn the fundamental basics of money, blockchain and cryptocurrency. The course proceeds in four steps, covering money, payments, blockchain technology and blockchain applications, in particular cryptocurrencies.

This course provides a comprehensive understanding of the intersection between finance and economics, focusing on the principles that drive financial markets, institutions, and instruments. Students will explore key topics such as asset pricing, portfolio theory, risk management, and the behavior of financial markets under different economic conditions. The course also delves into the structure and functions of financial institutions, regulatory frameworks, and the role of monetary policy. By examining real-world case studies and engaging in analytical exercises, students will develop the skills needed to analyze financial systems and make informed economic and financial decisions. Suitable for students interested in careers in finance, economics, policymaking, or academia, the course equips participants with a robust foundation in financial theory and its practical applications.

This course offers an in-depth exploration of macroeconomic theories and models that explain national and global economic phenomena. Topics covered include growth theory, business cycles, inflation, unemployment, and fiscal and monetary policy analysis, with an emphasis on dynamic models and empirical applications. Students will engage with advanced analytical tools, including mathematical and econometric methods, to understand complex economic relationships and evaluate policy impacts on macroeconomic stability and growth. This course prepares students for research or policy-oriented careers by equipping them with a deep understanding of the theoretical frameworks and empirical techniques needed to address pressing economic challenges in both developed and emerging economies.