First, students understand how different financial markets are structured and how they work and
why they are important for the national and the world economy. They learn and critically reflect the role international institutions and monetary policy play in every economy. Second, students develop an understanding of the microeconomic and macroeconomic decision making on international financial markets and the conditions that must be fulfilled that they can work properly. Third, they work on current financial issues and how they influence decision making in businesses, monetary authorities and governments.

Macroeconomics of Financial Markets:

• Money, Capital and the Economy
• Monetary Policy in a European Context
• Monetary Policy, Financial Markets and the Economy

Financial Economics and Financial Markets:

• Structure of Financial Markets
• Primary and Secondary Markets
• Efficiency Market Hypothesis
• Risk, Return and the Optimal Portfolio
• The Equity Markets
• The Fixed Income Markets
• Derivative Security Markets
• The Markets for Currencies
• Derivative Security Markets

Financial Institutions and Financial Systems in selected Countries

• Financial Markets and the Monetary Financial Institutions
• International Financial Organizations (BIS, IMF, EFSF, ESM) and their functions
• Financial Market Regulations and Systemic Risks
• Financial Architecture

• Blanchard O.: Macroeconomics, Prentice Hall
• Bofinger P., Monetary Policy, Oxford UP
• Gärtner, M.: Macroeconomics, Pearson Education, latest edition
• Mishkin F., Eakins S.: Financial Markets and Institutions, Prentice Hall

6 ECTS x 30 hours = 180 hours,  combined out of the following:

• Course attendance: 45 hours
• Preparation / homework / self-study : 45 hours
• Semester project / presentation: 30 hours
• Time for exercises and group work: 30 hours
• Exam preparation: 30 hours
• Exam time: 120 minutes

• "Seminaristischer Unterricht“ (Lecture with integrated practical issues).
• The lecture is supplemented by
  • questions for discussion
  • practical problems
  • case studies which are either solved as teamwork in class or assigned as homework problems
  • using statistical toolsv such as MS Excel or SPSS.