ECON-CV002 - Blockchain Economics, Lecture, 23.10.2024-2.12.2024

Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.

LEARNING OUTCOMES

After completing the course, you will be able to:

  • describe the nature of Blockchain technology
  • evaluate differences between consensus mechanisms from the perspective of security
  • use economic concepts and theories to analyze blockchain
  • discuss the FINTECH applications currently being explored for a wide variety of uses and functions
  • asses when and why peer-to-peer method of identifying ownership and network based bookkeeping creates a form of trust
  • analyze the main reasons behind the popularity of stateless digital currencies and discuss their implications for the future of the monetary policy set by a country’s central bank
  • describe the regulatory and governance challenges facing corporations, central banks, decentralized and centralized exchanges, and various government institutions dealing with this technology
  • understand why various corporations and banks try to co-opt the Blockchain technology into their existing business models; describe how the Initial Currency Offerings (ICOs) and tokenization work and discuss why they can be a form of external financing for some firms

Credits: 6

Schedule: 23.10.2024 - 02.12.2024

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): Savolainen

Contact information for the course (applies in this implementation):

CEFR level (valid for whole curriculum period):

Language of instruction and studies (applies in this implementation):

Teaching language: English. Languages of study attainment: English

CONTENT, ASSESSMENT AND WORKLOAD

Content

  • valid for whole curriculum period:

    This course covers recent developments in the area of financial innovation (FINTECH), such as blockchain, digital currencies, peer-to-peer method of identifying ownership, and smart contracts. Its goal is to analyze the emergence of blockchain and related innovations as highly disruptive technologies for the financial industry, business laws, accounting and monetary economics (central banking).

    To fully understand the implications of such technologies, we will cover various related topics such as the nature of money, legacy payment and banking, basics of cryptography, digital currency systems, peer-to-peer transactions, governance and regulation of emerging technologies, double entry bookkeeping, and financial exchanges. We will also focus on several digital currencies, their “intrinsic value,” the reasons for their recent popularity, and the microstructure of their trading. Finally, we will survey various ventures that begun to capitalize on these innovations. The course also intends to create a bridge between economics, business, law, and computer science. Students majoring in these areas would be equipped with a basic knowledge in each other’s fields, which should enhance the quality of their communications after entry into their corresponding careers.

DETAILS

Substitutes for Courses
Prerequisites

Rules of Conduct - Students´ Rights and Responsibilities (in force from 1 August 2020)

Aalto University Code of Academic Integrity and Handling Violations Thereof