Hans Gersbach: Catalogue data in Spring Semester 2023 |
| Name | Prof. Dr. Hans Gersbach |
| Field | Macroeconomics: Innovation and Policy |
| Address | Makroökonomie, Gersbach ETH Zürich, LEE F 101 Leonhardstrasse 21 8092 Zürich SWITZERLAND |
| Telephone | +41 44 632 82 80 |
| gersbach@kof.ethz.ch | |
| Department | Management, Technology, and Economics |
| Relationship | Full Professor |
| Number | Title | ECTS | Hours | Lecturers | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| 363-0575-00L | Economic Growth, Cycles and Policy | 3 credits | 2G | H. Gersbach | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Abstract | This intermediate course focuses on the core thinking devices and foundations in macroeconomics and monetary economics, and uses these devices to understand economic growth, business cycles, crises as well as how to conduct monetary and fiscal policies and policies to foster the stability of financial and economic systems. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Learning objective | - Fundamental knowledge about the drivers of economic growth in the short and long run, key macroeconomic variables and observed patterns in developed countries - Comprehensive understanding of core macroeconomic frameworks and thinking devices | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Content | This intermediate course focuses on the core thinking devices and foundations in macroeconomics and monetary economics, and uses these devices to understand economic growth, business cycles, crises as well as how to conduct monetary and fiscal policies and policies to foster the stability of financial and economic systems. The course is structured in the following way: Part I: Basics - Introduction - IS-LM Model in Closed Economy (Repetition) - Schools of Thought - Consumption and Investment - The Solow Growth Model Part II: Special Themes - Money Holding, Inflation, and Monetary Policy - Crises in Market Economies - IS-LM Model and Open Economy - Theories of exchange rate determination - Technical Appendix | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lecture notes | Copies of the slides will be made available. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Literature | Chapters in Manfred Gärtner (2009), Macroeconomics, Third Edition, Prentice Hall. and selected chapters in other books and/or papers | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Prerequisites / Notice | It is required that participants have attended the lecture "Principles of Macroeconomics" (363-0565-00L). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 363-1153-00L | Decentralized Finance and the Future of Money | 3 credits | 2V | B. J. Bergmann, H. Gersbach, R. Wattenhofer | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Abstract | DLT is emerging for a disruption of our current financial infrastructure. As such, Decentralized Finance (DeFi) seeks to combine open-source, peer to peer building blocks into sophisticated products using blockchain technology, seeking to disintermediate and decentralize the traditional financial service industry. This lecture will combine insights on DLT with recent applications from finance. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Learning objective | At it’s core, DeFi aims to provide financial products and services on blockchain technologies. The combination of decentralized, smart-contract-based business logic solutions with a blockchain-based settlement layer facilitates the creation of financial services in a decentralized way. Traditional, functional roles of trusted third-party such as brokerage firms, banks, are replaced by smart contracts which fulfill the functions automatically. The goal if this lecture is to let you understand, - The building blocks of Distributed Ledger Technology (DLT) - Some basic applications like smart contracts, tokens, decentralized autonomous organisations (DAOs) - Limitations and concepts for overcoming centralized financial systems - Recent advances on Central Bank Digital Currencies and other applications in DeFi - The business logic behind a decentralized applications (DApps) - How a DLT project is run within a larger organization and in the start-up context The lecture will cover also guest speakers from companies, start-ups, and agencies. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Content | After a one-hour introduction session on the first day, the lecture will be split into six 4h sessions. Each 4h Session will be held as a workshop session, covering some theoretical and technological insights as well as insights on recent applications. Each session will involve guest speakers from industry, start-ups, agencies. The focus of each session will be on the discussion part. You will be asked to prepare yourself (watch a video, read a paper, etc) for each session. Session 1: Intro to Blockchain, Focus on Exchanges, Transaction Ordering Session 2: Smart Contracts; Focus on Programming, Attacks Session 3: Decentralized Governance, DAOs and Applications Session 4: Central Bank Digital Currencies, recent advances, and approaches Session 5 & 6: DeFi applications, legal aspects, challenges, opportunities & risk in the corporate context The lecture is targeted to students across ETH with an interest in DLT. No specific coding experience is required. During the course you will follow step by step examples. For passing the course you will take online quizzes, selected exercises, and a short exam during the class. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lecture notes | There will lecture slides to each section shared in advanced to each session. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Literature | Selected readings and books are presented in each session. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Prerequisites / Notice | The course is opened to students from all backgrounds. Some experience with quantitative disciplines such as probability and statistics, however, is useful but not mandatory. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 364-0531-00L | CER-ETH Research Seminar  | 0 credits | 2S | H. Gersbach, A. Bommier, L. Bretschger | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Abstract | Research Seminar of Center of Economic Research CER-ETH | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Learning objective | Survey of the currently leading research in economics, especially in the CER-ETH research fields. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Content | Presentations of current and recent research results in the CER-ETH research fields, usually by international guest speakers. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Prerequisites / Notice | Please note the special announcements. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 364-0556-00L | Doctoral Workshop: Astute Modelling Prerequisite: Students are expected to attend the course 364-0559-02L "Design of Institutions and Political Economy", before registering for this workshop. | 3 credits | 1G | H. Gersbach | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Abstract | In this workshop, we present ongoing research at MIP and discuss the criteria and guidelines for smart modelling of social and economic situations. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Learning objective | We will learn how to present our own research and improve our modelling skills. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 364-0581-00L | Microeconomics Seminar (ETH/UZH) No enrolment to this course at ETH Zurich. Book the corresponding module directly at UZH as an incoming student. UZH Module Code: 03SMDOEC6089 Mind the enrolment deadlines at UZH: https://www.uzh.ch/cmsssl/en/studies/application/deadlines.html | 0 credits | 2S | H. Gersbach | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Abstract | Research Seminar research papers of leading researchers in Microeconomics are presented and discussed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Learning objective | Research Seminar research papers of leading researchers in Microeconomics are presented and discussed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Content | Invited Speakers present current research in Microeconomics | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 364-1058-00L | Risk Center Seminar Series | 0 credits | 2S | H. Schernberg, D. Basin, A. Bommier, D. N. Bresch, S. Brusoni, L.‑E. Cederman, P. Cheridito, F. Corman, H. Gersbach, C. Hölscher, K. Paterson, G. Sansavini, B. Stojadinovic, B. Sudret, J. Teichmann, R. Wattenhofer, U. A. Weidmann, S. Wiemer, R. Zenklusen | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Abstract | In this series of seminars, invited speakers discuss various topics in the area of risk modelling, governance of complex socio-economic systems, managing risks and crises, and building resilience. Students, PhD students, post-docs, faculty and individuals outside ETH are welcome. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Learning objective | Participants gain insights in a broad range of risk- and resilience-related topics. They expand their knowledge of the field and deepen their understanding of the complexity of our social, economic and engineered systems. For young researchers in particular, the seminars offer an opportunity to learn academic presentation skills and to network with an interdisciplinary scientific audience. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Content | Academic presentations from ETH faculty as well as external researchers. Each seminar is followed by a Q&A session and (when permitted) a networking Apéro. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lecture notes | The sessions are recorded whenever possible and posted on the ETH Risk Center webpage. If available, presentation slides are shared as well. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Literature | Each speaker will provide a literature review. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Prerequisites / Notice | In most cases, a quantitative background is required. Depending on the topic, field-specific knowledge may be required. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Competencies |
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| 364-1090-00L | Research Seminar in Contract Theory, Banking and Money (University of Zurich) No enrolment to this course at ETH Zurich. Book the corresponding module directly at UZH as an incoming student. UZH Module Code: 03SMDOEC0786 Mind the enrolment deadlines at UZH: https://www.uzh.ch/cmsssl/en/studies/application/deadlines.html | 3 credits | 2S | H. Gersbach, University lecturers | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Abstract | Recent developments in the fields of contract theory, finance, banking, money and macroeconomics. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Learning objective | Understanding recent developments in the fields of contract theory, finance, banking and macroeconomics. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||