HESSEN INTERNATIONAL SUMMER UNIVERSITY (ISU) 2012
A joint project of the Johann Wolfgang Goethe-University
and the Fachhochschule Frankfurt am Main
A joint project of the Johann Wolfgang Goethe-University
and the Fachhochschule Frankfurt am Main
July 15 — August 11 2012
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ISU FRANKFURT PROGRAM
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ISU Frankfurt Program
THE HESSEN INTERNATIONAL SUMMER UNIVERSITY (ISU) FRANKFURT:
OUR TARGET GROUP
The ISU program is designed for students with an academic background in Economics and Social Sciences, Business, Politics, or Law. Students who want to participate in the seminar program "Finance" need to have special knowledge in the field of Finance.
Please note: Your English language skills must be good enough to follow the academic courses.
THE HESSEN INTERNATIONAL SUMMER UNIVERSITY (ISU) FRANKFURT:
- Choose between two seminar programs: European Studies or Finance
- Improve your German language skills by participating in the course that corresponds to your needs
- Receive up to 6credit points for the seminars and 3 CP for the German language course (ECTS points)
- Credits (up to 9 ECTS points)
- Enjoy the extensive cultural program, including daily trips and weekend excursions, professional visits and evening activities.
OUR TARGET GROUP
The ISU program is designed for students with an academic background in Economics and Social Sciences, Business, Politics, or Law. Students who want to participate in the seminar program "Finance" need to have special knowledge in the field of Finance.
Please note: Your English language skills must be good enough to follow the academic courses.
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SEMINAR PROGRAM
During the first two days all students take part in the course "Intercultural Communication". The aim of the course is to provide students with an overview of the most important themes of intercultural communication such as cultural awareness; cultural clashes and culture shock; integration; verbal and non-verbal communication styles; attitudes to time; different value systems in interpersonal relationships. We deal with numerous case studies in order to understand how intercultural communication works in practice. By the end of the course, students will have substantially increased their cultural awareness and intercultural competence.
The remaining days of the first week are devoted to an introduction in the seminar programs. Participants of the European Studies course learn about History of European Integration, participants of the Finance program start with a lecture on Money and Macroeconomics.
The rest of the program is as follows:
European Studies
Finance
The aim of the first ISU week is that all participants get to know one another and get comfortable in the courses. Therefore during the first two days all studens take part in the course "Intercultural Communication". By the end of the course, students will have substantially increased their cultural awareness and intercultural competence. The group will have a good base to spend the following seminars together.
The remaining days of the first week are devoted to an introduction in the seminar programs. Participants of the European Studies course learn about History of European Integration, participants of the Finance program start with a lecture on Money and Macroeconomics.
The rest of the program is as follows:
European Studies
- Week one:
Interculturual Communication, History of European Integration - Week two:
European Economic and Social Policy - Week three:
European Central Banking - Week four:
European Law
Finance
- Week one:
Intercultural Communication, Money& Macroeconomics - Week two:
Corporate Finance - Week three:
Fundamentals of Futures and Options Marktes - Week four:
Negotiations in Debt Financing
The aim of the first ISU week is that all participants get to know one another and get comfortable in the courses. Therefore during the first two days all studens take part in the course "Intercultural Communication". By the end of the course, students will have substantially increased their cultural awareness and intercultural competence. The group will have a good base to spend the following seminars together.
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WEEK 1
INTERCULTURAL COMMUNICATION (Mark Bramwell and Eva Salzer)
The aim of the course Intercultural Communication is to provide students with an overview of the most important themes of Intercultural communication. These include: cultural awareness; cultural clashes and culture shock; integration; verbal and non-verbal communication styles; attitudes to time; different value systems in interpersonal relationships. We profile selected national cultures and study different management styles. We deal with numerous case studies in order to understand how intercultural communication works in practice. A range of media and types of exercises are employed to give students a varied and interesting introduction to the subject. By the end of the course, students will have substantially increased their cultural awareness and intercultural competence.
Download syllabus (pdf-file)
The aim of the course Intercultural Communication is to provide students with an overview of the most important themes of Intercultural communication. These include: cultural awareness; cultural clashes and culture shock; integration; verbal and non-verbal communication styles; attitudes to time; different value systems in interpersonal relationships. We profile selected national cultures and study different management styles. We deal with numerous case studies in order to understand how intercultural communication works in practice. A range of media and types of exercises are employed to give students a varied and interesting introduction to the subject. By the end of the course, students will have substantially increased their cultural awareness and intercultural competence.
Download syllabus (pdf-file)
HISTORY OF EUROPEAN INTEGRATION (Lars Pilz)
The aim of this lecture is to describe and analyze, both empirically and in theory, the process of the European integration. We will start from the basic results of the trade theory (Ricardo, HOS,…) and regional integration theory for understanding the reason of the economic and political integration of Europe. We will then move on a more political aspect by analyzing the process of integration, based on the theory of fiscal federalism and public goods theory. We will learn the different stages of the European integration following WW2, the institutions and functioning process of the European Union. We will discuss the different approaches of gouvernementalism and federalism in the European integrations history. You will understand how the European Union is designed and how it works as a result of this two theoretical approaches towards European integration.
The European Union today is at a crossroad: we will discuss the possible role of the Euro and its crisis for a further cooperation of the European states and try to get a closer perspective towards were the next years might bring the Union to.
Download syllabus (pdf-file)
The aim of this lecture is to describe and analyze, both empirically and in theory, the process of the European integration. We will start from the basic results of the trade theory (Ricardo, HOS,…) and regional integration theory for understanding the reason of the economic and political integration of Europe. We will then move on a more political aspect by analyzing the process of integration, based on the theory of fiscal federalism and public goods theory. We will learn the different stages of the European integration following WW2, the institutions and functioning process of the European Union. We will discuss the different approaches of gouvernementalism and federalism in the European integrations history. You will understand how the European Union is designed and how it works as a result of this two theoretical approaches towards European integration.
The European Union today is at a crossroad: we will discuss the possible role of the Euro and its crisis for a further cooperation of the European states and try to get a closer perspective towards were the next years might bring the Union to.
Download syllabus (pdf-file)
MONEY AND MACROECONOMICS (Anne Jurkat)
The first part of the seminar deals with the macroeconomics of the open economy. Keywords are balance of payments, capital mobility and exchange rates. The Mundell-Fleming model with fixed and flexible exchange rate regimes will be investigated in detail in order to analyze the effects of fiscal and monetary policy. The second part of the seminar applies the theory to reality: The course examines the European Monetary Union as a potential example for an optimal currency area, provides an overview of the road to a single currency in Europe and assesses the challenges for the future stability of the Euro in view of the Greek debt crisis. The course then concludes by discussing the macroeconomic causes and consequences of the financial crisis of 2008.
Download syllabus (pdf-file)
The first part of the seminar deals with the macroeconomics of the open economy. Keywords are balance of payments, capital mobility and exchange rates. The Mundell-Fleming model with fixed and flexible exchange rate regimes will be investigated in detail in order to analyze the effects of fiscal and monetary policy. The second part of the seminar applies the theory to reality: The course examines the European Monetary Union as a potential example for an optimal currency area, provides an overview of the road to a single currency in Europe and assesses the challenges for the future stability of the Euro in view of the Greek debt crisis. The course then concludes by discussing the macroeconomic causes and consequences of the financial crisis of 2008.
Download syllabus (pdf-file)
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WEEK 2
EUROPEAN ECONOMIC AND SOCIAL POLICY (Brigitte Geißel)
This course will start with an introduction to theories and methods of policy analysis; basic concepts and vocabulary of policy analysis will be explained. It will briefly describe the main EU policy areas (economic policy, agricultural and regional policy, environmental policy, foreign and security policy) and finally cover in detail European economic and social policies. We will discuss the development of economic and social policies within the European Union, for example concerning the common market, the single currency (Euro), economic and social cohesion, growth, employment, or consumer protection - including current challenges such as the Euro crisis, globalisation and an ageing population. However, the course will not only describe the developments of economic and social policies, but also examine the role of crucial actors shaping the field. In this analysis not only the formal agenda-setting and decision-making institutions are taken into account, but also European interest groups, civil society and the European Economic and Social Committee (EESC). We will talk about recent ideas about new forms of policy-making within the EU, for example the European Commission's White Paper on European Governance (2001). The course is designed to provide students with the theoretical and analytical skills to analyze economic and social policy in a rapidly changing world.
Download syllabus (pdf-file)
CORPORATE FINANCE (Lars Wellejus)
In order to understand different effects of asymmetric information, competencies and incentives on corporate finance, a rigorous, though simple, verbally easily describable and institutionally recognizable formal framework is developed. By small enrichments, this model can serve as an analytical tool for a wide range of questions asked within corporate finance. After the analysis of basic determinants of outside financing capacity, select issues of long-term finance, corporate financing under asymmetric information and passive monitoring are introduced.
Download syllabus (pdf-file)
This course will start with an introduction to theories and methods of policy analysis; basic concepts and vocabulary of policy analysis will be explained. It will briefly describe the main EU policy areas (economic policy, agricultural and regional policy, environmental policy, foreign and security policy) and finally cover in detail European economic and social policies. We will discuss the development of economic and social policies within the European Union, for example concerning the common market, the single currency (Euro), economic and social cohesion, growth, employment, or consumer protection - including current challenges such as the Euro crisis, globalisation and an ageing population. However, the course will not only describe the developments of economic and social policies, but also examine the role of crucial actors shaping the field. In this analysis not only the formal agenda-setting and decision-making institutions are taken into account, but also European interest groups, civil society and the European Economic and Social Committee (EESC). We will talk about recent ideas about new forms of policy-making within the EU, for example the European Commission's White Paper on European Governance (2001). The course is designed to provide students with the theoretical and analytical skills to analyze economic and social policy in a rapidly changing world.
Download syllabus (pdf-file)
CORPORATE FINANCE (Lars Wellejus)
In order to understand different effects of asymmetric information, competencies and incentives on corporate finance, a rigorous, though simple, verbally easily describable and institutionally recognizable formal framework is developed. By small enrichments, this model can serve as an analytical tool for a wide range of questions asked within corporate finance. After the analysis of basic determinants of outside financing capacity, select issues of long-term finance, corporate financing under asymmetric information and passive monitoring are introduced.
Download syllabus (pdf-file)
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WEEK 3
EUROPEAN CENTRAL BANKING (Alexander Karpf)
The seminar on European Central Banking will deal with the main tasks central bank have in the European context, but also compared to other major economies, including monetary policy and price stability, foreign exchange, payments systems issue of legal tender and financial market stability. Moreover, the organisation and decision-making processes in field of central banking in the European Union (and with particular emphasis on the European Central Bank) will be discussed and contrasted with other central banks, also from a legal perspective. Furthermore, the participants will be invited to discuss the work of central banks in relation to the financial crisis and the changes introduced in the light of this crisis.
Download syllabus (pdf-file)
FUNDAMENTALS OF FUTURES AND OPTIONS MARKTES (Christian Schlag)
The course covers the basics of derivative securities like futures, options, and swaps. We will take a look at the pricing of these instruments as well as on their use for hedging, risk management, and trading. The key idea behind the pricing of derivatives is the absence of arbitrage, and we will discuss the binomial model for option valuation in detail.
Download syllabus (pdf-file)
The seminar on European Central Banking will deal with the main tasks central bank have in the European context, but also compared to other major economies, including monetary policy and price stability, foreign exchange, payments systems issue of legal tender and financial market stability. Moreover, the organisation and decision-making processes in field of central banking in the European Union (and with particular emphasis on the European Central Bank) will be discussed and contrasted with other central banks, also from a legal perspective. Furthermore, the participants will be invited to discuss the work of central banks in relation to the financial crisis and the changes introduced in the light of this crisis.
Download syllabus (pdf-file)
FUNDAMENTALS OF FUTURES AND OPTIONS MARKTES (Christian Schlag)
The course covers the basics of derivative securities like futures, options, and swaps. We will take a look at the pricing of these instruments as well as on their use for hedging, risk management, and trading. The key idea behind the pricing of derivatives is the absence of arbitrage, and we will discuss the binomial model for option valuation in detail.
Download syllabus (pdf-file)
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WEEK 4
EUROPEAN LAW (Alexander Lorz)
The course will give a brief overview regarding the legal foundations, fundamental structural elements and pivotal substantive rights of European Union law. The first two units (Monday and Tuesday) will be devoted to explaining the legal construction of the Union, the main features of its most important institutions and the law-making instruments employed by them. In the second part (Thursday and Friday) the course will focus on the fundamental rights and freedoms of the Union's legal order, in particular the freedoms that serve as cornerstones of the Common or Internal Market. A case study at the end will demonstrate how they work in practice.
Download syllabus (pdf-file)
NEGOTIATIONS IN DEBT FINANCING (Jörg Kupjetz)
For most entities it is essential to be provided with debt financing. However, it is sometimes a long way from first discussions with the bank about financing needed to the final set of documentation. In this course you will learn the essentials of a term-sheet and how its terms will be integrated into the respective documentation. Jörg Kupjetz will show you both the entity's and the bank's perpective in this process.
Download syllabus (pdf-file)
The course will give a brief overview regarding the legal foundations, fundamental structural elements and pivotal substantive rights of European Union law. The first two units (Monday and Tuesday) will be devoted to explaining the legal construction of the Union, the main features of its most important institutions and the law-making instruments employed by them. In the second part (Thursday and Friday) the course will focus on the fundamental rights and freedoms of the Union's legal order, in particular the freedoms that serve as cornerstones of the Common or Internal Market. A case study at the end will demonstrate how they work in practice.
Download syllabus (pdf-file)
NEGOTIATIONS IN DEBT FINANCING (Jörg Kupjetz)
For most entities it is essential to be provided with debt financing. However, it is sometimes a long way from first discussions with the bank about financing needed to the final set of documentation. In this course you will learn the essentials of a term-sheet and how its terms will be integrated into the respective documentation. Jörg Kupjetz will show you both the entity's and the bank's perpective in this process.
Download syllabus (pdf-file)
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