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(Virtual) Guest Lecture by Franz Josef Benedikt, President of the Central Administration of the Deutsche Bundesbank in Bavaria
Even with the preventative measures taken to contain the spread of the Corona virus, the “Economics 2 – Macroeconomics” course for the Bachelor’s in Management and Technology still had to be moved online. An important part of the course, which has been held for years now, is a guest lecture by Franz Josef Benedikt, President of the Central Administration of the Deutsche Bundesbank in Bavaria. In order to make this annual highlight possible for students this past semester, a group of research assistants from the Chair of Economics of Innovation (Prof. Hanna Hottenrott) followed the invitation of the Deutsche Bundesbank to record the guest lecture at its Bavarian headquarters in the heart of Munich.
In his lecture, Franz Josef Benedikt focused on the (macro-)economic consequences of the Corona crisis and the effects of the protective measures on the national and international economic area. In addition to the fiscal policy measures taken by the Federal Government, such as the “Economic Stimulus and Crisis Management Package”, he presented the monetary policy reactions of the European Central Bank (ECB) in particular. The ECB has injected more than EUR 1.6 trillion in liquidity into the market with the “Asset Purchase Programme” (APP) and the “Pandemic Emergency Purchase Programme” (PEPP). Mr. Benedikt stated, unequivocally, that the aim is to strengthen the financial sector to the extent necessary to enable a successful economic upswing after the lockdown.
Despite the virtual and asynchronous format of the lecture, students were able to actively contribute to the final part of the course. They had the opportunity to submit questions in advance, which were then answered in detail by Franz Josef Benedikt, thus providing the students with further interesting aspects of current economic processes and offering highly interesting insights into the operations of the Bundesbank.
During the guest lecture, Franz Josef Benedikt awarded the Deutsche Bundesbank Special Prize to Julie Delzant, alumni of the TUM School of Management, for her outstanding final thesis on “Financial Market Regulation Against the Background of Climate Policy Goals”. In her master’s thesis, supervised by Christoph Gschnaidtner and Professor Frhr. von Weizsäcker, the winner of the €2.000 award examined the effects of regulatory privileges granted to European banks in their lending and investment activities in climate-friendly areas.
Julie Delzant was awarded the Deutsche Bundesbank Special Prize by Franz Josef Benedikt
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