Courses offered by the Institute of Money and International Finance

Area of Expertise in Economics, Economics IV

• Exercise Money, exchange rates and financial markets (270092)

  	Time and room:	Lecturer:
  	Tue. 09:15 - 10:45 (Every 14 days) | VII-002 (Group 1)	Marchi
  	Tue. 09:15 - 10:45 (Every 14 days) | VII-002 (Group 2)	Marchi
  	Wed. 12:45 - 14:15 (Every 14 days) | I-401 (Group 3)	Kuhr
  	Wed. 12:45 - 14:15 (Every 14 days) | I-401 (Group 4)	Kuhr
  	Thu. 12:45 - 14:15 (Every 14 days) | VII-201 (Group 5)	Kuhr
  	Thu. 12:45 - 14:15 (Every 14 days) | VII-201 (Group 6)	Kuhr
  	Thu. 09:15 - 10:45 (Every 14 days) | I-442 (Group 7)	Marchi
  Comments:	The optional exercise deepens the material covered in the lecture Money, Currency, and Financial Markets. The exercise is offered every 14 days and lasts 90 minutes. All exercise groups cover identical material, so you should only attend one exercise group. Start of group registration in Stud.IP: 22.10.2026 09:30 Uhr

• Money, exchange rates and financial markets (270193)

  	Time and room:	Lecturer:
  	Wed. 14:30 - 16:00 | VII-201	Zahner
  Contents:	The course provides an introduction to the players in the financial system and key issues relating to monetary policy. Topics covered include: The financial system Interest rates and the yield curve Central banks Monetary policy instruments Money creation Money demand Monetary policy transmission mechanism Foreign exchange markets and exchange rates
  Literature:	Bofinger, Peter (2001): Monetary policy: goals, institutions, strategies, and instruments Gischer, H., B. Herz und L. Menkhoff (2012) Geld, Kredit und Banken - Eine Einführung, 3. Auflage.
  Comments:	Students are expected to have passed the modules of the first two semesters and to have a basic understanding of macroeconomic theories from the module "Macroeconomics".

Area of Expertise in Business Administration and Economics

• Hannover Finance Symposium (BSc) (273020)

  	Time and room:	Lecturer:
  	Block course (Group 1)	Breitner, Dierkes, Dräger, Prokopczuk, Schneider, Sibbertsen, Sönksen, Todtenhaupt
  	Block course (Group 2)	Breitner, Dierkes, Dräger, Prokopczuk, Schneider, Sibbertsen, Sönksen, Todtenhaupt
  	Block course (Group 3)	Breitner, Dierkes, Dräger, Prokopczuk, Schneider, Sibbertsen, Sönksen, Todtenhaupt
  	Block course (Group 4)	Breitner, Dierkes, Dräger, Prokopczuk, Schneider, Sibbertsen, Sönksen, Todtenhaupt
  Contents:	The Hannover Finance Symposium takes place on 11.11.2026. To receive credits participation is mandatory. Further details will be published on the webpage of the Hannover Center of Finance and Insurance.

Area Finance, Banking & Insurance

• Seminar Monetary Economics Using Microdata (374032)

  	Time and room:	Lecturer:
  	Block course	Nghiem
  Contents:	The seminar discusses empirical papers covering topics related to monetary policy using household survey data. The seminar aims at students interested in conducting micro-econometric analyses to study macroeconomic questions and is particularly suitable for those interested in writing an empirical Master thesis (possibly on a related topic). Some basic knowledge in econometrics and the ability to work with economic datasets is required, but additional introduction into the econometric techniques used in the seminar and into the program R/Stata will be given in the beginning of the semester. Students 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 to choose from are: The Formation of Inflation Expectations The Response of Consumption to Macroeconomic Expectations Estimation of Elasticity of Intertemporal Substitution Tests for the Phillips Curve Tests for Taylor Monetary Policy Rule
  Literature:	The relevant literature will be discussed at the beginning of the seminar.

Several Areas

• Hannover Finance Symposium (MSc) (379019)

  	Time and room:	Lecturer:
  	Block course (Group 1)	Breitner, Dierkes, Dräger, Prokopczuk, Schneider, Sibbertsen, Sönksen, Todtenhaupt
  	Block course (Group 2)	Breitner, Dierkes, Dräger, Prokopczuk, Schneider, Sibbertsen, Sönksen, Todtenhaupt
  	Block course (Group 3)	Breitner, Dierkes, Dräger, Prokopczuk, Schneider, Sibbertsen, Sönksen, Todtenhaupt
  Contents:	The Hannover Finance Symposium takes place on 11.11.2026. To receive credits participation is mandatory. Further details will be published on the webpage of the Hannover Center of Finance and Insurance.

• Advanced Monetary Macroeconomics (379061)

  	Time and room:	Lecturer:
  	Block course	Dräger
  Contents:	During the class, we will derive the basic New Keynesian DSGE model and discuss differences to the earlier Classical Real Business Cycle (RBC) model. Students will learn the mathematical models necessary for the derivation and solution of the model, and simulate the model using MATLAB and Dynare.
  Literature:	Gali (2008): Monetary Policy, Inflation, and the Business Cycle McCandless, George (2008): The ABCs of RBCs – An Introduction to Dynamic Macroeconomic Models Further academic papers will be discussed in class
  Comments:	Prof. Lena Dräger: Prüfungsart: Fachspezifische Prüfung: mündliche Prüfung

1. Area: Professional skills

• Advanced Monetary Macroeconomics (379061)

  	Time and room:	Lecturer:
  	Block course	Dräger
  Contents:	During the class, we will derive the basic New Keynesian DSGE model and discuss differences to the earlier Classical Real Business Cycle (RBC) model. Students will learn the mathematical models necessary for the derivation and solution of the model, and simulate the model using MATLAB and Dynare.
  Literature:	Gali (2008): Monetary Policy, Inflation, and the Business Cycle McCandless, George (2008): The ABCs of RBCs – An Introduction to Dynamic Macroeconomic Models Further academic papers will be discussed in class
  Comments:	Prof. Lena Dräger: Prüfungsart: Fachspezifische Prüfung: mündliche Prüfung

3. Area: Scientific skills

• Doctoral Seminar Finance (574001)

  	Time and room:	Lecturer:
  	Block course	Dierkes, Dräger, Prokopczuk, Schneider
  Contents:	PhD students in finance present their research projects.

• Finance Research Seminar (77782)

  	Time and room:	Lecturer:
  	Wed. 11:00 - 12:30 | III-115	Blaufus, Dierkes, Dräger, Gassebner, Prokopczuk, Reichert, Schneider, Schröder, Sibbertsen, Sönksen, Todtenhaupt
  Contents:	External guests present their latest research

Area of Expertise in Economics, Economics IV

• Tutorial in Money, Banking and Financial Markets (270090)

  	Time and room:	Lecturer:
  	Wed. 09:15 - 10:45 | I-442 (Group 1)	Marchi
  	Wed. 12:45 - 14:15 | I-401 (Group 2)	Marchi
  Contents:	Das Tutorium wiederholt den Stoff der Vorlesung und Übung Geld, Währung und Finanzmärkte aus dem Wintersemester.
  Literature:	Bofinger, P. (2001) Monetary policy: goals, institutions, strategies, and instruments, Oxford University Press. Gischer, H., B. Herz und L. Menkhoff (2012) Geld, Kredit und Banken - Eine Einführung, 3. Auflage Berlin et al.
  Comments:	Das Tutorium wird in der 1. Hälfte des Sommersemesters angeboten und endet in der Woche vor der Wiederholungsprüfung.

Area of Expertise in Economics

• Monetary Policiy (272050)

  	Time and room:	Lecturer:
  	Wed. 09:15 - 10:45 | I-401	Dräger
  Contents:	Aufgaben, Ziele und Instrumente von Zentralbanken Unabhängigkeit und Transparenz von Zentralbanken Transmissionsmechanismen von Geldpolitik Inflationssteuerung und Konjunkturstabilisierung Die Rolle von Erwartungen für die geldpolitische Steuerung
  Literature:	Literatur wird zu Beginn der Vorlesung bekannt gegeben.

• Tutorial on Monetary Policy (272051)

  	Time and room:	Lecturer:
  	Tue. 09:15 - 10:45 (Every 14 days) | II-013	Marchi
  Contents:	In der Übung werden Aufgaben und Anwendungsbeispiele zur Vorlesung Geldpolitik vorgestellt.
  Comments:	Die Übung findet 14-tägig im Umfang von 90 Minuten statt.

Several Areas

• Financial Crises (379027)

  	Time and room:	Lecturer:
  	Wed. 18:15 - 19:45 | II-013	Nghiem
  Contents:	This course covers the topic of financial crises. We discuss different types of crises, such as banking and financial market crises, currency crises and sovereign debt crises and identify elements that are common to all types of financial crises. Recurring typologies of financial crises are described in models such as the Diamond-Dybvig model of bank runs and the Minsky model of financial cycles. Finally, we discuss case studies of different financial crises in detail and learn about policy responses to stabilize the financial system and to prevent future crises.
  Literature:	The relevant literature for the course will be announced at the beginning of the semester.
  Comments:	The exam has to be written in English.

• Exercise Financial Crises (379028)

  	Time and room:	Lecturer:
  	Tue. 14:30 - 16:00 (Every 14 days) | II-013	Nghiem
  Contents:	Tutorial for the lecture Financial Crises.
  Comments:	In the tutorial, students solve and discuss problem sets based on the course Financial Crises. The tutorial takes place every week and lasts 90 minutes.

3. Area: Scientific skills

• Doctoral Seminar Finance (574001)

  	Time and room:	Lecturer:
  	Block course	Dierkes, Dräger, Prokopczuk, Schneider
  Contents:	PhD students in finance present their research projects.

• Finance Research Seminar (77782)

  	Time and room:	Lecturer:
  	Wed. 11:00 - 12:30 | I-442	Blaufus, Dierkes, Dräger, Gassebner, Prokopczuk, Reichert, Schneider, Schröder, Sibbertsen, Sönksen, Todtenhaupt
  Contents:	External guests present their latest research