Geldpolitik, Zins und Devisenmärkte

The university certificate „Geldpolitik, Zins und Devisenmärkte“ comprises an economics module from the Allensbach University Master's program. Among other things, you will learn to recognize the importance of the macroeconomic framework data of an economy for financial management, to interpret changes in the framework data correctly and to react appropriately to changes in the framework data within your area of responsibility. You will learn to forecast the effects of economic policy measures on interest rates, consumer demand and investment incentives in the best possible way, to calculate the fundamental values of bonds and shares under the expectations hypothesis and the efficient markets hypothesis and to assess the effects of expectations and economic policy on the financial markets.

Upon successful completion of the program, the university will award you the certificate „Geldpolitik, Zins und Devisenmärkte“.

The most important things at a glance:

For the university certificate you will receive 10 ECTSwhich can also be credited to the Master in Business Education or the Master in Finance*.

Tuition fees: EUR 165 per month, EUR 990 in total
Duration of study: 6 months + 6 months free extension
Seminars: online, approx. 6 hours
Proof of performance: Submission work
Admission requirements: Knowledge of economics at bachelor's level
Compulsory attendance: none

The university certificate is online, without attendance and without compulsory attendance completed. The exam can be taken at home in the form of a submission.

Are you interested? Then contact our student advisory service, we look forward to hearing from you!

*Provided you meet the admission requirements for the Master's program.

What are the admission requirements?

Admission requirements are knowledge of economics at Bachelor level.

How is your course structured?

Das Modul umfasst drei fachsystematisch ausgerichtete Lerneinheiten, Kontroll- und Einsendeaufgaben zur Übung, tutorielle Betreuung über den Online Campus sowie eine Online Lehrveranstaltung.

Topics of the certificate:

Economic fluctuations and their significance for the financial markets

Theoretical foundations of economic fluctuations
The special significance of expectations and the economy for the financial markets
The influence of the economy and growth on consumption and investment
The influence of expectations on government economic activity and economic policy

Interest rates and their development: Theoretical background

Understanding interest rates and their development
The behavior of interest rates under different framework conditions
Understanding the relationship between risk and interest rate structure
Excursus: The stock market: rational expectations and the efficient market hypothesis

Exchange rate theory and monetary policy

The empirical findings: a historical overview of exchange rates and international transactions
Supply and demand on the foreign exchange market
Demand for debt assets
The foreign exchange market in equilibrium
Interest rates, expectations and equilibrium
Money supply and exchange rate in the short term
Money supply and exchange rate in the long term

Monetary policy in EMU: The importance of the ECB for the financial markets

Introductory remarks on the role of property in the creation of credit and money in two-tier mixed money systems
The prehistory of the European single currency
Theory of optimal currency areas and European monetary union
The Eurosystem as an institution
The euro and economic policy in the eurozone
Monetary policy strategies and the European Monetary Union

How long will your studies take?

The standard period of study is four months. You can extend the duration of your studies by a further four months free of charge.

Geldpolitik, Zins und Devisenmärkte