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Module (6 Credits)

International Capital Movements: Theory and Econometric Evidence

Name in diploma supplement
International Capital Movements: Theory and Econometric Evidence
Responsible
Admission criteria
See exam regulations.
Workload
180 hours of student workload, in detail:
  • Attendance: 45 hours
  • Preparation, follow up: 90 hours
  • Exam preparation: 45 hours
Duration
The module takes 1 semester(s).
Qualification Targets

Students

  • understand the conceptual basics of international capital movements 
  • are able to present current models of international capital movements formally, graphically, and are also able to interpret them verbally
  • are able to analyze the models critically
  • are in a position to transfer the obtained knowledge and skills to other subjects
  • are able to verify the models empirically
  • are in a position to interpret estimation results and analyze them critically
  • have learned how to implement empirical studies independently. Due to the close link between theory and practice in the tutorial class, students are also well-prepared to meet a wide range of requirements of professional practice
  • can evaluate scientific studies accurately and are in a position to identify starting points for their own empirical research
  • are proficient in the econometric methods necessary to evaluate relevant economic models and are able to apply these methods independently as well as to identify their weaknesses
Relevance

The acquired skills and knowledge can be utilized in international companies (in particular banks and other financial institutions), international organizations, economic research institutions and ministries. The ability to analyze international economic relations theoretically and empirically according to scientific standards is a prerequisite for understanding recent economic studies. It is therefore the base for scientific research and practice in this area of expertise.

Module Exam

The module-related examination is performed by a written test (usually 60-90 minutes).

Die Prüfung in diesem Modul darf nicht abgelegt werden, wenn Theorie und Empirie internationaler Kapitalallokationen bereits bestanden ist.

Usage in different degree programs
  • BWL-EaF-Ma-2015 Wahlpflichtbereich 1st-3rd Sem, Elective
  • ECMX-Ma-2019 Wahlpflichtbereich Bereich Economics 1st-3rd Sem, Elective
  • LA-gbF-kbF-BK-Ma-2014 Masterprüfung in der kleinen beruflichen Fachrichtung Finanz- und Rechnungswesen, Steuern Profil "Finanzdienstleistungen" in der kleinen beruflichen Fachrichtung Wahlpflichtbereich im Profil "Finanzdienstleistungen" 1st-3rd Sem, Elective
  • Mathe-Ma-2013 Anwendungsfach "Wirtschaftswissenschaften" Schwerpunkt "VWL-M II" 1st-4th Sem, Elective
  • MuU-Ma-2013 Wahlpflichtbereich II Wahlpflichtbereich II B.: Märkte und Unternehmen aus Marktperspektive 1st-3rd Sem, Elective
  • VWL-Ma-2009-V2013 Wahlpflichtbereich I 1st-3rd Sem, Elective
  • WiMathe-Ma-2013 VWL-M II 1st-4th Sem, Elective
Elements
Name in diploma supplement
International Capital Movements: Theory and Econometric Evidence
Organisational Unit
Lecturers
SPW
2
Language
English
Cycle
summer semester
Participants at most
16
Preliminary knowledge

Advanced knowledge in macroeconomics of open economies, in the field of money and currencies as well as basic knowledge in econometrics.

Abstract

The course provides advanced knowledge of new theoretical and empirical research in the field of international capital movements. This includes the analysis of the determinants of international capital movements, the analysis of the determining reasons of exchange rate movements as well as the analysis of the functionality of international financial markets. Furthermore, various explanatory approaches for international currency and financial crises are going to be presented and assessed.

Qualification Targets

Students

  • understand the conceptual basics of international capital movements
  • are able to present current models of international capital movements formally, graphically, and are also able to interpret them verbally
  • are in a position to transfer the obtained knowledge and skills to other subjects
Contents
  • Structure and development of international capital movements
  • Causes of international capital movements
  • Techniques to measure the integration of international financial markets
  • Stylised facts of exchange rate developments
  • Purchasing power parity theory
  • Monetary approaches to the exchange rate
  • Portfolio theory
  • The microstructural approach to exchange rate analysis 
  • The effects of foreign exchange interventions
  • Forecasting quality of alternative models
  • Causes of currency and financial crises
Literature
  • Harms, Internationale Makroökonomik;
  • Mark, International Macroeconomics and Finance, Theory and Econometric Methods; 
  • Obstfeld and Taylor, Global Capital Markets;
  • Sarno and Taylor, The Economics of Exchange Rates;
  • Selected scientific publications
Teaching concept

The course is held in the form of lectures.

Participants
  • BWL-EaF-Ma-2015 Wahlpflichtbereich Modul "International Capital Movements: Theory and Econometric Evidence " 1st-3rd Sem, Elective
  • ECMX-Ma-2019 Wahlpflichtbereich Bereich Economics Modul "International Capital Movements: Theory and Econometric Evidence " 1st-3rd Sem, Elective
  • LA-gbF-kbF-BK-Ma-2014 Masterprüfung in der kleinen beruflichen Fachrichtung Finanz- und Rechnungswesen, Steuern Profil "Finanzdienstleistungen" in der kleinen beruflichen Fachrichtung Wahlpflichtbereich im Profil "Finanzdienstleistungen" Modul "International Capital Movements: Theory and Econometric Evidence " 1st-3rd Sem, Elective
  • Mathe-Ma-2013 Anwendungsfach "Wirtschaftswissenschaften" Schwerpunkt "VWL-M II" Modul "International Capital Movements: Theory and Econometric Evidence " 1st-4th Sem, Elective
  • MuU-Ma-2013 Wahlpflichtbereich II Wahlpflichtbereich II B.: Märkte und Unternehmen aus Marktperspektive Modul "International Capital Movements: Theory and Econometric Evidence " 1st-3rd Sem, Elective
  • VWL-Ma-2009-V2013 Wahlpflichtbereich I Modul "International Capital Movements: Theory and Econometric Evidence " 1st-3rd Sem, Elective
  • WiMathe-Ma-2013 VWL-M II Modul "International Capital Movements: Theory and Econometric Evidence " 1st-4th Sem, Elective
Lecture: International Capital Movements: Theory and Econometric Evidence (WIWI‑C0808)
Name in diploma supplement
International Capital Movements: Theory and Econometric Evidence
Organisational Unit
Lecturers
SPW
2
Language
English
Cycle
summer semester
Participants at most
16
Explanation for irregular cycle
das Modul wird regulär jedes SS angeboten, fällt aber im SS 2017 einmalig aus
Preliminary knowledge

See lecture.

Abstract

The tutorial class provides students with practical knowledge about the econometric analysis of the determinants of international capital movements, of the determinants describing exchange rate movements, and of the functionality of international financial markets.

Qualification Targets

Students

  • are able to verify the models empirically
  • are in a position to interpret estimation results and analyze them critically
  • have learned how to implement empirical studies independently. Due to the close link between theory and practice in the tutorial class, students are also well-prepared to meet a wide range of requirements of professional practice
  • can evaluate scientific studies accurately and are in a position to identify starting points for their own empirical research
  • are proficient in the econometric methods necessary to evaluate relevant economic models and are able to apply these methods independently as well as to identify their weaknesses
Contents

See lecture.

Literature

See lecture.

Teaching concept

The lectures are complemented by a practical, computer-based tutorial class that makes frequent use of econometric software, in particular Econometric Views (EViews). Thereby, various techniques of econometric analysis are employed. By utilizing the original datasets taken from scientific literature and from studies conducted by the German central bank, empirical results are replicated and subjected to a sensitivity analysis with respect to their content and methodology. Besides imparting fundamental theoretical and empirical knowledge, the main goal of the course is to introduce students to conducting their own scientific research in the field of international capital movements. Finally, students are taught how to work with scientific analysis software.

Participants
  • BWL-EaF-Ma-2015 Wahlpflichtbereich Modul "International Capital Movements: Theory and Econometric Evidence " 1st-3rd Sem, Elective
  • ECMX-Ma-2019 Wahlpflichtbereich Bereich Economics Modul "International Capital Movements: Theory and Econometric Evidence " 1st-3rd Sem, Elective
  • LA-gbF-kbF-BK-Ma-2014 Masterprüfung in der kleinen beruflichen Fachrichtung Finanz- und Rechnungswesen, Steuern Profil "Finanzdienstleistungen" in der kleinen beruflichen Fachrichtung Wahlpflichtbereich im Profil "Finanzdienstleistungen" Modul "International Capital Movements: Theory and Econometric Evidence " 1st-3rd Sem, Elective
  • Mathe-Ma-2013 Anwendungsfach "Wirtschaftswissenschaften" Schwerpunkt "VWL-M II" Modul "International Capital Movements: Theory and Econometric Evidence " 1st-4th Sem, Elective
  • MuU-Ma-2013 Wahlpflichtbereich II Wahlpflichtbereich II B.: Märkte und Unternehmen aus Marktperspektive Modul "International Capital Movements: Theory and Econometric Evidence " 1st-3rd Sem, Elective
  • VWL-Ma-2009-V2013 Wahlpflichtbereich I Modul "International Capital Movements: Theory and Econometric Evidence " 1st-3rd Sem, Elective
  • WiMathe-Ma-2013 VWL-M II Modul "International Capital Movements: Theory and Econometric Evidence " 1st-4th Sem, Elective
Exercise: International Capital Movements: Theory and Econometric Evidence (WIWI‑C0809)
Module: International Capital Movements: Theory and Econometric Evidence (WIWI‑M0662)