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“Macro Finance: Assets, Government Debt, and Cryptos,” Bern, Spring 2025

Summary:
BA course at the University of Bern. Time: Monday, 10:15–12:00. Location: H4, 106. Uni Bern’s official course page. This course is aimed at students interested in macro finance who have completed their mandatory training in microeconomics, macroeconomics, and mathematics. Macro finance focuses on the pricing of securities and other assets. Using the Euler equation as a basis, we derive the fundamental pricing relationships. The course then explores a range of applications, including bubbles, government debt, money, the interaction between fiscal and monetary policy, CBDCs, and crypto assets. Grades may be based on class participation, group work and presentations, and/or a written exam.

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Dirk Niepelt writes “Macro Finance: Assets, Government Debt, and Cryptos,” Bern, Spring 2026

BA course at the University of Bern.

Time: Monday, 10:15–12:00. Location: H4, 106. Uni Bern’s official course page.

This course is aimed at students interested in macro finance who have completed their mandatory training in microeconomics, macroeconomics, and mathematics. Macro finance focuses on the pricing of securities and other assets. Using the Euler equation as a basis, we derive the fundamental pricing relationships. The course then explores a range of applications, including bubbles, government debt, money, the interaction between fiscal and monetary policy, CBDCs, and crypto assets. Grades may be based on class participation, group work and presentations, and/or a written exam.

Dirk Niepelt
Dirk Niepelt is Director of the Study Center Gerzensee and Professor at the University of Bern. A research fellow at the Centre for Economic Policy Research (CEPR, London), CESifo (Munich) research network member and member of the macroeconomic committee of the Verein für Socialpolitik, he served on the board of the Swiss Society of Economics and Statistics and was an invited professor at the University of Lausanne as well as a visiting professor at the Institute for International Economic Studies (IIES) at Stockholm University.

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