Project Course, winter term 2021/2022
Target audience and registration
The course is only available for five students each semester of the Masters program in Economics. 6 Credits (PO 2012 and PO 2015) can be obtained. Assignments are based on the "first-come, first-serve" principle. The registration at the examination office has to be done before the early-exams-deadline.
Course
Each student has to conduct an empirical study and write a paper of appr. 20 pages.
Topic
The chair focuses on topics concerning financial markets, commodities and monetary economics. The chosen topic should cover one of these areas. Personal preferences and ideas are always welcomed and considered. Basic knowledge in econometrics and empirical research is mandatory. Knowledge in Excel and econometric software is beneficial.
Master-thesis
Once the project course is successfully completed, the empirical results can serve as the basis for the Master-thesis.
Contact person
Please contact directly the tutor which offers topics concerning your interest.
Topic-suggestions
Betreuer: Elissa Iorgulescu
1. The drivers of price volatility in commodity futures markets over time
Kaufmann, R. K. (2011), “The role of market fundamentals and speculation in recent
price changes for crude oil”, in: Energy Policy, Vol. 39 (1), pp. 105-115.
Manera, M., M. Nicolini and I. Vignati (2016), “Modelling futures price volatility in energy
markets: Is there a role for financial speculation?”, in: Energy Economics, Vol. 53, pp. 220-229.
2. The role of hedgers and speculators in commodity futures markets
Kang, W., Rouwenhorst, K.G. and Tang, K. (2020). „A tale of two premiums: The role of hedgers
and speculators in commodity futures markets.”, in: The Journal of Finance, Vol. 75 (1), pp. 377-417.
Betreuer: Dimitrios Kanelis
3. Monetary Policy: Quantifying monetary shocks
Ramey, V. A. (2016), „Macroeconomic Shocks and Their Propagation”, in: Handbook of
Macroeconomics, Vol. 2A, pp. 71-162.
Nakamura, E. and J. Steinsson (2018), “High-Frequency Identification of Monetary Non-Neutrality:
The Information Effect”, in: Quarterly Journal of Economics, Vol. 133(3), pp. 1283-1330.
Altavilla, C., L. Brugnolini, R.S. Gürkaynak, R. Matto, G. Ragusa (2019), “Measuring euro
area monetary policy”, in: Journal of Monetary Economics, Vol. 108, pp. 162-179.
4. Economics of financial crises and credit cycles
Schularick, M. and A.M. Taylor (2012), “Credit Booms Gone Bust: Monetary Policy, Leverage
Cycles, and Financial Crises, 1870-2008”, in: American Economic Review, Vol. 102(2), pp. 1029-1061.
Baron, M., E. Verner and W. Xiong (2021), “Banking Crises Without Panics", in: Quarterly Journal
of Economics, Vol. 136(1), pp. 51-113.
Altavilla, C., L. Brugnolini, R.S. Gürkaynak, R. Matto, G. Ragusa (2019), “Measuring euro
area monetary policy”, in: Journal of Monetary Economics, Vol. 108, pp. 162-179.