Universität Wien

040090 UK Special Topics in Banking and Finance: Financial Markets (2015W)

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. 50 participants
Language: German

Lecturers

Classes (iCal) - next class is marked with N

Wednesday, October 7th 2015, HS 10, OMP 1, 08:00 a.m.-09:30 a.m.
Wednesday, October 14th 2015, HS 10, OMP 1, 08:00 a.m.-09.30 a.m.
Wednesday, October 21st 2015, HS 10, OMP 1, 08:00 a.m.-09:30 a.m.
Wednesday, October 28th 2015, HS 10, OMP 1, 08:00 a.m.-09:30 a.m.
Wednesday, November 4th 2015, HS 10, OMP 1, 08:00 a.m.-09:30 a.m.
Wednesday, November 11th 2015, HS 10, OMP 1, 08:00 a.m.-09:30 a.m.
Wednesday, November 18th 2015, HS 10, OMP 1, 08:00 a.m.-09:30 a.m.
Wednesday, November 25th 2015, HS 10, OMP 1, 08:00 a.m.-09:30 a.m. (midterm)
Wednesday, December 2rd 2015, HS 10, OMP 1, 08:00 a.m.-09:30 a.m.
Wednesday, December 9th 2015, HS 10, OMP 1, 08:00 a.m.-09:30 a.m.
Wednesday, December 16th 2015, HS 10, OMP 1, 08:00 a.m.-09:30 a.m.
Wednesday, January 13th 2016, HS 10, OMP 1, 08:00 a.m.-09:30 a.m.
Wednesday, January 20st 2016, HS 10, OMP 1, 08:00 a.m.-09:30 a.m.
Wednesday, January 27th 2016, HS 10, OMP 1, 08:00 a.m.-09:30 a.m.(final exam)

  • Wednesday 07.10. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 14.10. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 21.10. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 28.10. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 04.11. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 11.11. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 18.11. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 25.11. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 02.12. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 09.12. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 16.12. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 13.01. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 20.01. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 27.01. 08:00 - 09:30 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock

Information

Aims, contents and method of the course

Main objectives
This 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.

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.

Grading
Your grade will depend on
- your answers to the questions of the midterm exam (30%),
- your answers to the questions of the final exam (40%), as well as
- your presentation and your active participation in class (30%).

Minimum requirements and assessment criteria

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

Examination topics

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: Mo 07.09.2020 15:28