54709 - Financial Markets and Instruments

Learning outcomes

At the end of the course, the student: has acquired complete knowledge of the financial tools and services that allow households and businesses to meet their financial needs; acquired the methodological knowledge and critical skills required to relate efficiently with economic operators and intermediaries; has acquired adequate knowledge of the structure and functioning of the stock markets.

Course contents

The financial system: components


instruments
markets
intermediaries
regulation
Functions of the financial system:


monetary/payment system
intermediation
transmission of monetary policy
Reasons for the existence of intermediaries


Classification of intermediaries:


Banks
Non-bank credit intermediaries
Securities intermediaries
Participation intermediaries
Principles of management of financial institutions


Markets and instruments: monetary, bond and equity


Regulation of the financial system

Readings/Bibliography

Frederic S. Mishkin, Stanley G. Eakins, Elena Beccalli, Istituzioni e mercati finanziari, nona ed., Milano, Pearson Ed., 2019, cap. 1, 2, 3, 4, 6, 7 (solo par. 7.7), 8, 9 , 10, 11, 12, 13, 14, 15, 17, 20, 21, 22.

Teaching methods

Lectures, discussion, exercises and group work

Assessment methods

The method of assessment of knowledge is in written form. The written test aims to verify the mastery and understanding of the topics covered from a theoretical and applicative point of view through open questions, exercises and multiple choice tests. The exam test, for which it is necessary to have a financial calculator, aims to verify the achievement of the following educational objectives:
know the functions and components of the financial system;
know the characteristics and functions of the different financial intermediaries;
know the methods of evaluation of the most important decision-making variables of a financial intermediary: returns/risks/prices
The preparation is assessed through a final written exam lasting a maximum of 60 minutes that takes place on Esami On Line (EOL): participation is allowed only to students i) who have registered for the test on Almaesami and ii) who are up to date with the payment of university fees.


The exam is divided into three parts:


11/12 closed multiple choice questions, of which only one is correct: the correct answer is worth 2 points, the missing answer is worth 0 points, the incorrect answer is worth -0.50


1 or 2 exercises (3 points each), in the form of multiple choice
an open question (from 5 to 6 points).
The maximum score achievable (33) corresponds to thirty with honors. In particular with reference to the level of preparation demonstrated in the exam:


<18: insufficient
18-23: sufficient
24-27: good
28-30: excellent
30 with honors: excellent


A facsimile of the exam is available on EOL.


Furthermore, as provided for by the rules approved by the School, current students can take the exam through two partial tests with the same structure described above. Participation in the second partial test is permitted, once and only once, even if the first test achieved a grade lower than 18. The final grade is the arithmetic mean of the grades achieved in the two partial tests: students who have not passed the exam through the partial tests will have to take it again, on the entire program, at the first available official exam session.


It is possible to view the corrected exam tests on EOL and ask for clarifications through appointments set with the teacher through teams.

The verbalization of grades occurs automatically (in the absence of the student) electronically no earlier than the fifth day after the publication of the results on Almaesami: the grade can be rejected once (art. 16, co. 5 University Teaching Regulations). Graduating students who need to verbalize the grade in advance are invited to communicate this to the teacher by email.

Teaching tools

Educational material in slides, handouts and articles taken from financial newspapers made available in electronic format.

Office hours

See the website of Simona Cosma