Central Banks Operations from Academics Perspective Introduction

Transcription

1 Central Banks Operations from Academics Perspective Introduction Prof. Dr. Rolf Tilmes Dean, EBS Business School Managing Director, EBS Executive Education GmbH 17 November 2010, Frankfurt Euro Finance Week: Central Banker Education & Financial Stability

2 EBS Germany s oldest private Business School University founding Law School setup EBS-Fraunhofer Supply Chain School setup Establishment State recognition as an academic university Idea and founding State recognition as a University of Applied Sciences (FH) Relocation to Schloss Reichartshausen University status Granted right to award doctoral degrees Granted right to award postdoctoral qualification Premium in Germany Transition from Diploma to Bachelor and Master Build up of international network, dual degree options Development of Executive Education Top positions in German university rankings All programmes FIBAAaccredited*) Intensive cooperation with business practice; 200 corporate partners International upgrading Internationalization of programmes (Bachelor, Master, MBA, EMBA), 100% taught in English Faculty growth from 26 to 83 professors Focus on outstanding, internationally published research Expansion of international business school network Professionalization of executive education Growth in turnover from 11 to 33 million EUR Professionalization of governance and management Implementation of the House of Logistics & Mobility (HOLM) Governance School setup Automotive Institute for Management (AIM) Global Post-Graduate School of Logistics setup Institute of Sports, Business and Society (ISBS) setup Winner of the elite cluster competition held by the BMBF**) Campus development in the Rheingau, in Wiesbaden and at Gateway Gardens Wiesbaden becomes university city Faculty growth to 200 professors and approx. 3,000 students *) FIBAA: Foundation for International Business Administration Accreditation; **) BMBF: German Federal Ministry of Education and Research 1

3 Business School characteristics Business School Germany s oldest business school (founded 1971) Germany s largest faculty for business studies 90 faculty members within 6 departments studium universale and coaching program for all students and doctoral candidates EBS Executive Education: Currently more than 3,000 participants in the further education program every year More than 200 corporate partners, including all DAX groups 14 degree programs in 2010 (2 B.Sc., 7 M.Sc., 2 MBA, 2 EMBA, 1 Ph.D.) 35 duel degree options with top-tier foreign universities 200 partner universities worldwide Professor/student ratio 1:15 A total of 1,200 students Top 10 in the CHE research ranking Leverage of pioneer advantage due to synergies with other business-relevant schools 2

4 The Finance, Accounting & Real Estate Department at EBS Business School Head of Department Prof. Dr. Rolf Tilmes Academic Consultant Prof. Dr. Dres. h.c. Adolf G. Coenenberg - Strategy Accounting - Funding Accouting - Specialzied Master Academic Manager Anke Welkoborsky Institutes & Chairs 3

5 The FARE Department is one of the largest finance departments in Germany More than 50 academic staff More than 70 publications per year More than course participants and 90 courses in our full time programmes per year More than 50 running PhD projects More than 140 thesis projects per year More than 40 corporate partners Worldwide academic network BSc. in General Management BSc. in Aviation Management MSc. in General Management Specialized MSc. in Finance with a dual degree option Specialized MSc. in Real Estate with a dual degree option 4

6 The EBS has extensive experience in Executive Education in Finance & Banking Executive MBA Durham Business School / European Business School Cutting edge non-degree programs for life-long learning in the fields of Banking, Private Finance & Wealth Management and Real Estate Internationally renowned lecturers / professors and more than 180 external lecturers Target groups: specialists & executives 11 Certified programs Financial Economics, Estate Planning, Execution of Will, Capital Market Products, Qualitative Investment Analysis, Hedge Funds, Private Equity, Commodities, Real Estate Investment Banking, Real Estate Investment Management, International Real Estate Evaluation customized programs More than 1,000 students per year Outstanding evaluation: over 90 % of participants judge targets to be achieved and appreciate the practical applicability 5

7 EBS plans to offer Summer Schools for staff members of Central Banks in cooperation with Deutsche Bundesbank Foster exchange between academics and central banks on research, most relevant for central banks operations Provide central bank s staff members with a compact update on the current stance of academic research in their working area Familiarize central banks staff members with most recent theoretical and empirical concepts applied in their field of interest Organize Summer Schools on focussed topics related to specific business areas of central banks The following presentations will give some ideas about the key topics addressed 6

8 Prof. Reint Gropp, PhD Academic Experience: Senior Professor of Financial Economics & Taxation at the EBS Business School, Wiesbaden Research Fellow, Centre for Financial Studies, Frankfurt and Centre for European Economic Research, Mannheim Visiting Professor, Department of Finance, University of Frankfurt Visiting Scholar, Centre for European Economic Research (ZEW), Mannheim Deputy Head of Financial Research, European Central Bank, Frankfurt Principal Economist, Financial Research, European Central Bank, Frankfurt Senior Economist Financial Research, European Central Bank, Frankfurt Central Banking Experience: 8 years of experience at the European Central Bank 5 years of experience at the International Monetary Fund, including the Asian Crisis (Thailand) Research responsibility for the ECB Financial Stability Report (since inception) More than 20 publications in financial stability and related areas Research Interests: Financial stability Market discipline Bank contagion Bail out policies Macropurdential indicators Default prediction models of banks Bank capital decisions Liability structures of banks Real effects of finance Procyclicality 7

9 Prof. Dr. Falko Fecht Academic Experience: Senior Professor at EBS Business School, Wiesbaden Research Professor at the Deutsche Bundesbank Visiting Scholar at the Federal Reserve Bank of Cleveland Visiting Researcher at the European Central Bank Visiting Researcher at the Federal Reserve Bank of Kansas City Central Banking Experience: Research visits to the Federal Reserve Banks of Kansas City, Cleveland, Dutch Central Bank and European Central Bank Research coordinator for Monetary policy implementation and payment systems at Deutsche Bundesbank Research coordinator for Financial Structures at Deutsche Bundesbank Economist at Deutsche Bundesbank in the Money, Credit and Capital Markets Section of the Economics Department More than 12 publications in liquidity management an central banking Research Interests: Microeconomics of Banking and other Financial Institutions Financial Supervision and Banking Regulation Economics of Payment Systems Open Market Operations and Interbank Markets Financial Stability and Financial Crises Liquidity Crises and Liquidity Provision Bail Out Policies 8

10 Prof. Ben Craig, PhD Academic Experience: Adjunct Professor of Financial Institutions, EBS Business School, Wiesbaden Visiting Lecturer, University of Freiburg Instructor, Case Western Reserve Instructor, Cleveland State University Visiting Lecturer, University of Konstanz Assistant Professor, Indiana University Lecturer and Assistant Professor, Washington State University Central Banking Experience: 16 years experience in the Federal Reserve System Currently Economic Advisor at the Federal Reserve Bank of Cleveland Visiting Scholar at Deutsche Bundesbank since 2007 More than 15 publications in monetary policy and central banking related issues Research Interests: Econometrics Money Banking Payment systems Monetary operations Monetary policy Labour economics 9

11 Three presentations on potential courses for central bankers:»financial Stability and Macro-Prudential Analysis«Empirical methods for assessing financial stability different concepts and their application Prof. Reint Gropp, PhD Chair of Financial Economics and Taxation, EBS Business School, Wiesbaden»Central Banks Liquidity Management«Assessing the efficiency of CBs operational framework theoretical considerations and their empirical evaluations Prof. Dr. Falko Fecht Chair of Economics of Financial Institutions, EBS Business School, Wiesbaden»Payment Systems«Stability of payment systems and the interrelation of payment systems and money markets Prof. Ben Craig, PhD Adjunct Professor of Financial Institutions, EBS Business School, Wiesbaden 10

12 Contact Prof. Dr. Rolf Tilmes Dean, EBS Business School Managing Director, EBS Executive Education GmbH Phone: +49 (0) Fax: +49 (0) Mobile: +49 (0)