TEACHING

Full course description

The aim of this course is to provide an introduction to topics in the field of (international) financial markets, central banks and monetary policy and the banking sector.

The course begins with a classification of financial markets (e.g. capital markets, money markets) as well as an analysis of the role financial markets play in the overall economic framework, both from a macro-economic as well as a micro-economic perspective. Thereafter, the "management" of financial markets is discussed, in particular the central role played by central banks in this respect. The functions and tasks of central banks will be analyzed, in particular their responsibility for monetary policy. In this context, the course will in particular deal with the operational framework for monetary policy, and the interaction of central banks and banks in the money market. Subsequently, another major player in the financial markets will be analyzed, i.e. the banking sector. The functions of banks will be elaborated upon, as well as their respective business activities. Also the developments in the (international) banking sector will be analyzed.

The course finishes with an analysis of risk management at banks, and the importance of adequate risk management from the point of view of overall financial stability. In this context, the role of financial supervisors both from a macro-prudential and micro-prudential perspective will be discussed.

Coordinators:

• L.M. Lieb

• S.T.M. Straetmans

Full course description

The course is an introduction to the roles of the state in economic relations. The students will learn how markets function, and what do public authorities do in order to ensure fair competition and the regulation of negative and positive externalities (such as environmental pollution or public health via vaccines). The course will furthermore serve as basic introduction to public choice models discussing why/how states levy taxes and redistribute income. Last but not least, the course will lay the foundations of International Political Economy exploring topics such as international trade, geo-economics and the economic rationale behind international/European economic integration.

Coordinator:

• L.A.S. van Efferink

Full course description

In this course we discuss how national income, employment, and prices are determined. We study long-run economic growth as well as short-run fluctuations in economic activity, unemployment, and inflation. We then analyse tools of fiscal and monetary policies. Throughout this course economic data is tightly woven into the discussion of economic theory. By the end of this course we are able to critically assess and contribute to discussions on current economic issues and give an educated assessment on economic commentary, analyses, or policy proposals.

Coordinator:

• L.M. Lieb