Universität Wien
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040072 SE OeNB Guest Lecture (2026S)

The Future of Money

5.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften
Prüfungsimmanente Lehrveranstaltung

An/Abmeldung

Hinweis: Ihr Anmeldezeitpunkt innerhalb der Frist hat keine Auswirkungen auf die Platzvergabe (kein "first come, first served").

Details

max. 24 Teilnehmer*innen
Sprache: Englisch

Lehrende

Termine

Tuesday, May 26, 11.00 - 12.30 h
Tuesday, May 26, 15.00 - 16.30 h
Wednesday, May 27, 09.45 - 11.15 h
Wednesday, May 27, 13.30 - 15.00 h
Thursday, May 28, 09.00 - 10.30 h
MANDATORY! PUBLIC LECTURE: Thursday, May 28, 15.00 - 16.30 h, Hörsaal 4, ground floor
Monday, September 21, 09.45 - 11.15 h
Monday, September 21, 13.15 - 14.45 h
Tuesday, September 22, 10.00 - 11.30 h
Tuesday, September 22, 13.00 - 14.30 h
Wednesday, September 23, 09.45 - 11.15 h
Wednesday, September 23, 13.30 - 15.00 h

OMDS Seminarroom, 3rd floor


Information

Ziele, Inhalte und Methode der Lehrveranstaltung

This course explores how digital technologies are transforming money, banking, and the financial system. We begin with the current two-tier monetary system, central bank money and commercial bank money, and then analyze how new forms of digital money such as cryptocurrencies, stablecoins, central bank digital currencies (CBDCs), and tokenized deposits may alter the structure of the monetary and financial system.
Throughout, we combine conceptual and institutional considerations with policy debates and simple analytical frameworks. We discuss implications for financial stability, monetary policy/sovereignty, innovation in payment systems, and how these new forms of digital money should be regulated.
At the end of the course, participants should be able to:
• Explain how the current two-tier monetary system works and how money is created and destroyed.
• Understand the basic technological and economic features of new forms of digital money (stablecoins, CBDCs, and tokenized deposits).
• Analyze key risks and benefits of new forms of digital money for financial stability, monetary policy, payments efficiency, and competition.
• Critically assess current regulatory and policy approaches to digital money in different jurisdictions.
• Formulate and defend their own views on how the future monetary system should be designed.

Target group: PhD students and Master students in Economics, Banking &Finance, and related fields

Art der Leistungskontrolle und erlaubte Hilfsmittel

Short written policy brief (5–7 pages) on a current debate, for example the regulation of stablecoins, the design of a retail CBDC, or the role of tokenized deposits, plus a short in-class presentation.

Mindestanforderungen und Beurteilungsmaßstab

The course is designed for Master and PhD students in Economics, Banking and Finance, and related fields. Students should be familiar with basic tools of economic analysis at Master level, in particular standard microeconomics and macroeconomics.
Prior knowledge of financial intermediation, monetary economics, or digital assets is helpful but not required.
Regular attendance and active participation are strongly recommended, as the lectures and discussions provide the core material for the assignment.

Prüfungsstoff

Participants will be assessed based on their understanding of the motivation, main concepts, and policy implications of the topics covered in the course.

Literatur

A detailed reading list and all course materials will be provided via Moodle at the beginning of the semester.

Zuordnung im Vorlesungsverzeichnis

Letzte Änderung: Mo 13.04.2026 09:45