Course Detail (Course Description By Faculty)

The Economics of Digital Asset Products and Markets (35139)

van der Merwe, Andria>>

Since the launch of Bitcoin in 2009 by the pseudonymous Satoshi Nakamoto, digital assets have developed into a distinct asset class with growing influence over global financial markets. The increasing institutional participation and increase in applications for cryptocurrencies and blockchain-based systems are challenging conventional notions and regulatory frameworks.

This course provides a rigorous introduction to cryptocurrencies, blockchain technology, and the broader digital asset ecosystem. Students will build a technical foundation in distributed consensus and smart contracts, then apply that foundation to the market structure, financial instruments, and risk frameworks that define institutional and retail participation in digital assets today. Topics include centralized versus decentralized exchanges (CEX vs. DEX), crypto derivatives and perpetual futures, stablecoins, tokenization of real-world assets (RWAs) and institutional investment products such as exchange-traded funds (ETFs).

Introductory Economics or Finance (recommended). No Non-Booth students. No MiM students. 
  • No non-Booth Students
Reading materials will be made available on Canvas before class and the lecture notes will be made available at the end of each lecture. I may also post optional reading material to Canvas and these will be clearly marked as optional. 

Grades will be based on class participation; problem sets, two short quizzes and a final project. Grades will be assigned as a weighted average of these components: class participation, including attendance (25%); quizzes (15%); problem sets (20%); final project (40%).

  • No auditors
  • No pass/fail grades
Description and/or course criteria last updated: August 18 2026
SCHEDULE
  • Autumn 2026
    Section: 35139-30
    F 1:30 PM-4:30 PM
    Gleacher Center
    208
    In-Person Only

The Economics of Digital Asset Products and Markets (35139) - van der Merwe, Andria>>

Since the launch of Bitcoin in 2009 by the pseudonymous Satoshi Nakamoto, digital assets have developed into a distinct asset class with growing influence over global financial markets. The increasing institutional participation and increase in applications for cryptocurrencies and blockchain-based systems are challenging conventional notions and regulatory frameworks.

This course provides a rigorous introduction to cryptocurrencies, blockchain technology, and the broader digital asset ecosystem. Students will build a technical foundation in distributed consensus and smart contracts, then apply that foundation to the market structure, financial instruments, and risk frameworks that define institutional and retail participation in digital assets today. Topics include centralized versus decentralized exchanges (CEX vs. DEX), crypto derivatives and perpetual futures, stablecoins, tokenization of real-world assets (RWAs) and institutional investment products such as exchange-traded funds (ETFs).

Introductory Economics or Finance (recommended). No Non-Booth students. No MiM students. 
  • No non-Booth Students
Reading materials will be made available on Canvas before class and the lecture notes will be made available at the end of each lecture. I may also post optional reading material to Canvas and these will be clearly marked as optional. 

Grades will be based on class participation; problem sets, two short quizzes and a final project. Grades will be assigned as a weighted average of these components: class participation, including attendance (25%); quizzes (15%); problem sets (20%); final project (40%).

  • No auditors
  • No pass/fail grades
Description and/or course criteria last updated: August 18 2026
SCHEDULE
  • Autumn 2026
    Section: 35139-30
    F 1:30 PM-4:30 PM
    Gleacher Center
    208
    In-Person Only