Prof. Dr. Johannes Pfeifer


150 hours; Contact hours: 36h; Self-study: 114 hours  



Module no. (Course no.):

2480 (24801 + 24802)


This module will present the actors and activities in the financial and foreign exchange markets. A central theme will be the advantages and disadvantages of international capital mobility. Stylized facts of modern financial markets (e.g. adverse selection, credit rationing) will be discussed as well as the main theories of modern financial market crises (currency crises, banking crises, debt crises).

Learning outcomes

In this module, students are familiarized with the importance and functioning of international factor markets using the example of international financial markets.

Proof of performance:

Oral examination (20 minutes), which can be held in English at the individual request of the student.


  • Hull, J. C. (2019): Optionen, Futures und andere Derivate, 10. Auflage, München: Pearson Studium.
  • Feenstra/Taylor (2020): International Economics, Macmillan, 5. Auflage