This seminar takes place within the Area of Finance, Banking and Insurance and aims at students interested in econometric analyses in the field of money and international finance. Students will work in groups for the empirical analysis and present their results jointly, but write individual term papers.
The seminar aims at students interested in conducting econometric analyses and is particularly suitable for those interested in writing an empirical Master thesis at the Institute of Money and International Finance.
Students in the seminar can choose from the following topics and are expected to replicate the empirical analysis in the paper or to run a similar analysis on another dataset. Students will work in groups and after the group presentation write individual seminar papers. Topics are:
1. Analysis of optimum currency areas
2. Estimation of Taylor rules
3. Estimation of international money demand functions
4. Estimation of PPP and Balassa-Samuelson effect
5. Tests for the Uncovered Interest Parity
More information can be found here.
Some prior knowledge in econometrics and in the application with the statistical program R is required. We will provide a short introduction to R at the beginning of the semester. We expect students to be able to find economic datasets, and work with them individually.
Course requirements and grading
The course entails three major requirements:
1. Students deliver a group presentation, which summarizes the main findings of their empirical work, including an instructed discussion with the class [25% of the final grade].
2. They are (individually) required to submit a seminar paper based on one the basic literature provided, their own literature research and the empirical analysis of their group [70% of the final grade].
3. Students are obliged to attend all seminar presentations and to actively participate in class discussions, which includes having studied at least the compulsory literature in the syllabus before the seminar presentations [5% of the final grade].
Ideally, the term paper should consist of four parts: First, a motivation why the topic is of relevance. Second, a critical discussion of the key (empirical) contribution(s) and results in the main paper to that topic. On top of that, students should conduct a literature research on the topic and present additional research related to their topic. When discussing the literature, the following questions may be answered: Why is the research question important? What is the empirical strategy in the main paper and which data do they use? What are the main findings and implications? Are they controversial? Are there any potential shortcomings in their analysis? The third part will present your own (i.e. your group's) empirical findings. Are they consistent with previous results in the literature? What new insights do they provide (if any)? The last part concludes.
April 15 – May 16, 2019, 2.30pm-4pm in room 214 (1502) Preparatory session and introduction to R (4 sessions, attendance required)
At the introductory session on April 25 Final choosing of topic and final registration
June 28, 2019, 1pm-5.30pm in room 112 (1501) Presentations (block session, attendance required)
August 9, 2019, 12am Deadline for the term paper