98572 - FINANCIAL MARKETS AND INSTITUTIONS

Conoscenze e abilità da conseguire

This course aims to increase students’ knowledge of the financial market. During the course, students learn about financial choices regarding saving and investments, the microstructure of the securities industry and the economic equilibria of banks. Lastly, the students will understand financial supervisory goals, instruments and authorities about the financial market.

Contenuti

MODULE I: Stefano Filomeni - 30 hours

INTRODUCTION (Chapters 1-2)

• Why Study Financial Markets and Institutions?
• Overview of the Financial System

FUNDAMENTALS OF FINANCIAL MARKETS (Chapters 3-6)

• What Do Interest Rates Mean and What Is Their Role in Valuation?
• Why Do Interest Rates Change?
• How Do Risk and Term Structure Affect Interest Rates?
• Are Financial Markets Efficient?

FUNDAMENTALS OF FINANCIAL INSTITUTIONS (Chapters 7-8)

• Why Do Financial Institutions Exist?
• Why Do Financial Crises Occur and Why Are They So Damaging to the Economy?
  

FINANCIAL MARKETS (Chapters 11-14)

• The Money Markets
• The Bond Market
• The Stock Market
• The Mortgage Markets
  

 

MODULE II: Maurizio Mussoni - 30 hours

CENTRAL BANKING AND THE CONDUCT OF MONETARY POLICY (Chapters 9-10)

• Central Banks
• Conduct of Monetary Policy

THE FINANCIAL INSTITUTIONS INDUSTRY (Chapters 17-22)

• Banking and the Management of Financial Institutions
• Financial Regulation
• Banking Industry: Structure and Competition
• The Mutual Fund Industry
• Insurance Companies and Pension Funds
• Investment Banks, Security Brokers and Dealers, and Venture Capital Firms

THE MANAGEMENT OF FINANCIAL INSTITUTIONS (Chapters 23-24)

• Risk Management in Financial Institutions
• Hedging with Financial Derivatives

Testi/Bibliografia

F.S. Mishkin, S.G. Eakins, Financial Markets and Institutions, Pearson, 2024, Global Edition, 10th edition.

The teaching material (slides and case studies) can be downloaded by clicking on "Teaching resources on Virtuale" or directly from the "Virtuale" website (https://virtuale.unibo.it).

Other specific references or any additional material will be communicated at the beginning of the course, and made available online within the course's teaching material.

Metodi didattici

60 hours of in-class lectures and discussion of case studies.

Modalità di verifica e valutazione dell'apprendimento

The exam is composed of two written exams which cover each Module I and Module II of the course and aim to evaluate the skills and the critical abilities developed by the students. Each written exam on one Module lasts 1 hour.

The written exams consist of “open-answer questions”, and students must select two questions out of the four proposed and answer to all the corresponding sub-points. The answer to each question is worth 30 points, and the final mark is computed as the simple average of the two marks obtained for each question. An example of an exam will be illustrated during the course.

The exam is currently carried out only in person (face to face). The option to carry out the exam online will be available if and only if the University guarantees this option.

For students attending lectures, it is possible to do the written exams through two mid-term assessments (partial exams):

• the mid-term assessment for Module I (1/2 of the final mark) is scheduled at the end of the first term of lectures and is a 1-hour exam;
• the mid-term assessment for Module II (1/2 of the final mark) is scheduled at the end of the second term of lectures and is a 1-hour exam.

Only students who pass the first mid-term assessment are admitted to the second mid-term assessment. To pass the exam, students must obtain a sufficient grade (18/30) for both Module I and Module II.

The final mark is computed as the simple average of the two marks obtained for Module I and Module II, and it is expressed out of 30 points according to the following graduation:

• <18, fail;
• 18-23, sufficient;
• 24-27, good;
• 28-30, very good;
• 30 with laude, excellent.

The use of supporting material such as textbooks, personal notes or electronic devices is not allowed during the exam. Registration for the exam is compulsory, and students have to register through AlmaEsami website (https://almaesami.unibo.it) according to the general rules of the School of Economics and Management.

Strumenti a supporto della didattica

Teaching material (slides and discussion of case studies).

The slides can be downloaded by clicking on "Teaching resources on Virtuale" or directly from the "Virtuale" website (https://virtuale.unibo.it).

Orario di ricevimento

Consulta il sito web di Andi Duqi

Consulta il sito web di Stefano Filomeni