Financial stability can be defined as a condition in which the financial system is capable of withstanding shocks and the unraveling of financial imbalances. Safeguarding financial stability requires identifying the main sources of inefficiencies in the allocation of financial resources and the mismanagement of financial risks. The aim of this course is to provide an overview of recent theories and empirical findings that constitute the prerequisites to understanding, monitoring, and safeguarding financial stability. The course features a comprehensive treatment of systemic risk in banking, with a special focus on the 2007-08 global financial crisis and the 2020 COVID-19 crisis. We will study the anatomy of modern banking systems and the contagious spread of vulnerabilities in such systems. Moreover, we will study several channels through which systemic banking crises propagate across countries. The course puts a large weight on lessons for financial stability policy. In particular, we will review unconventional monetary policy measures and macro-prudential regulation aimed at maintaining financial stability. Additionally, we will discuss how effective regulation can mitigate systemic risks and strengthen the resilience of the financial system.
- Understand the main mechanisms behind financial stability and instability
- Understand the underlying structures of the global financial system better
- Capture the implications of regulatory reform on the banks and the financial systems
- Link the regulatory reform to key operations such as risk management
- Understand the role of key institutions such as rating agencies and central counterparties
- Capture the main functions of regulating and supervising bodies
This course is part of the prestigious part-time Master in Finance, conducted in English on Fridays and Saturdays on Campus Westend. It offers a valuable opportunity to network and gain expertise without committing to a full degree program. Upon completion, participants receive a Certificate of Participation. This course can also be upgraded to a Certificate of Advanced Studies (CAS) in Risk Management & Regulation in combination with other courses from our Master in Finance. As the number of seats is limited, we recommend to register early. If you're a GBS or Goethe University alum, explore our attractive alumni discount options.
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Dr. Norbert Metiu
Dr. Metiu is a senior economist in the General Financial Stability Analysis and Macroprudential Surveillance Division of Deutsche Bundesbank. His research interests include financial stability, international finance and monetary macroeconomics. Norbert received his PhD in economics at Maastricht University in 2011, and obtained his MSc in economics at Corvinus University of Budapest in 2008. Norbert has taught several courses in the field of financial economics at Maastricht University, Goethe University, and GBS. He is winner of the ‘GBS Excellence in Teaching Award’ in the Master in Finance program in 2018.
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