Carsten Lange

Applying the Scholarship of Teaching and Learning: Student Perceptions, Behaviours and Success Online and Face-to-Face.

This study compares student perceptions, learning behaviours and success in online and face-to-face versions of a Principles of Microeconomics course. It follows a Scholarship of Teaching and Learning (SoTL) approach by using a cycle of empirical analysis, reflection and action to improve the learning experience for students. The online course design involves 58 interactive narrated online modules, interactive online quizzes and biweekly online meetings with the instructor via video and voice-over-IP technology. Findings indicate that schedule flexibility motivates students to choose the online course format. Students in both learning environments felt they had high-quality communication with the instructor, while online students indicated limited peer-to-peer communication. Online students report studying more at home than face-to-face students, but not enough to compensate for the time face-to-face students spend in class. Reflecting on the findings, the authors suggest actions to improve the online course experience.

Interest rate convergence, sovereign credit risk and the European debt crisis: a survey

Purpose This paper aims to briefly review the literature on interest rate convergence and the European debt crisis with a special focus on the current fiscal problems of some governments in Europe. Design/methodology/approach Relevant empirical papers are identified and reviewed focusing on time series analysis techniques. Findings The introduction of the euro has caused interest rate convergence among European Monetary Union (EMU) government bond yields. However, now sovereign credit risk and possibly even redenomination risk have caused divergences in European bond markets. Research limitations/implications A major limitation is that a relatively new field of the literature is surveyed. However, there are enough papers of relevance. This review paper could therefore be helpful in finding new approaches for additional empirical research examining the EMU bond market. Originality/value The results of empirical studies in a relatively new field of the literature are summarized. There meanwhile are some relevant papers. A brief survey of the results of these papers is provided. Important empirical findings with regard to interest rate convergence, sovereign credit risk and redenomination risk in the EMU are discussed and evaluated. The review is especially helpful for researchers and practitioners in the field of managerial finance and risk managers in the financial services industry.

A modular approach to seigniorage in a monetary union

There is little agreement on how to measure seigniorage changes and their sources in a monetary union. This paper informs the debate by developing a modular approach that distinguishes between seigniorage changes a country experiences during the transition phase prior to joining a monetary union and at the time of the regime change when the common currency is introduced. Using the Eurozone enlargement as an example, the underlying components of seigniorage changes for the transition phase and the regime change are identified and quantified. The modular approach thus allows a more informed discussion and provides analysts and policymakers with flexibility as to which seigniorage components to choose depending on the economic issue at hand.

Zeitreihenanalyse mit Neuronalen Netzen

Prognosen spielen in der betriebswirtschaftlichen Praxis eine grose Rolle, sei es, um den eigenen Absatz zu prognostizieren, den von Mitbewerbern oder den von Betrieben, die das eigene Produkt weiterverarbeiten. Die Reihe moglicher Anwendungen ware vielfaltig erweiterbar [vgl. fur eine Systematisierung Wiedmann/ Buckler (1999)]. In den meisten Fallen werden Prognosen mit linearen oder loglinearen Regressionen oder mit uni- oder multivariaten Zeitreihenanalysen wie ARMA oder ARIMA durchgefuhrt [vgl. Granger (1989), S. 63 ff.]. Damit wird ein (log)linearer Zusammenhang zwischen der zu prognostizierenden Variablen und den erklarenden Variablen postuliert. Der tatsachliche Zusammenhang muss aber keineswegs immer (log)linear sein. Deshalb kann eine auf (log)linearen Funktionen beruhende Prognose zu systematischen Verzerrungen fuhren.

Simulating Chaotic Dynamics in a Macroeconomic Trade-Off-Model

An expansive monetary impulse is analyzed in the framework of a nonlinear macroeconomic employment model. The analysis concentrates on the timepath and not on the trade off between inflation and unemployment rates. Solving nonlinear dynamical systems is often difficult or impossible, therefore computer simulation techniques are used.