Summer term 2026

MW 26.2. | Topics in Economics: Financial Intermediation and the Real Economy

This course uses economic theory and empirical evidence to study the links between financial markets and the real economy, with a specific focus on the role of financial intermediaries. We will discuss questions such as: how does access to credit (or the lack thereof) affect firms and households? What are the implications for growth and economic development? What has changed in the recent decades, e.g., how does financial innovation affect the traditional bank business model?

The lectures will be accompanied by a tutorial. In the tutorial key concepts from the lecture will be discussed to foster students’ understanding. Further, students will learn how to use R to implement/replicate some of the empirical findings discussed in the lecture as well as how to interpret results and deal with challenges associated with conducting empirical research.