31516 - FINANCIAL ECONOMICS

Conoscenze e abilità da conseguire

The purpose of this course is to give a practical understanding of financial risks and of contracts and methods for managing these risks under normal as well as stressful market conditions, such as those that we have experienced in recent years. Students will be able to manage market risk, credit risk and sovereign risk with a number of quantitative techniques. Research seminars are also included, dealing with new issues in financial markets, i.e. how financial innovation, the increasingly “systemic” nature of risk, and regulatory changes have made risk management more challenging. A few empirical puzzles and policy issues will be addressed. A special session will be devoted to applications in the tourism industry.

Contenuti

The main topic concerns the functioning of international financial markets. We study financial risks and contracts and some methods for managing these risks. In particular, we focus on market risk, credit risk and sovereign risk in capital markets. Seminars are also included, dealing with new issues in financial markets, i.e. how financial innovation, the increasingly “systemic” nature of risk, and regulatory changes have made risk management more challenging. A special session will be devoted to some applications in the tourism industry.

Testi/Bibliografia

Mishkin, Eakins "Financial Markets and Institutions", 9/e, Pearson, 2018 (chs. 2,3,4,5,6,7,8,12,13,15,16,23, 24)

Further specialized articles and other didactic material will be made available before each lecture.

It will be available in the web site "Materiale Didattico"

Metodi didattici

Lectures and classes (on-site/online)

Modalità di verifica e valutazione dell'apprendimento

Written exam.

The assessment method is based on the evaluation of a written test for the individual preparation. Students are expected to answer ten questions, including multiple-choice, true-false, short numerical exercises and short answers. A mock exam as a sample will be provided at least one month before end of lectures. Students are expected to know the basic quantitative methods discussed during lectures and to critically discern the limitations of the models employed in the analysis.

The maximum possible score is 30 cum laude, in case all anwers are correct, complete and formally rigorous.

The grade is graduated as follows:

<18 failed
18-23 sufficient
24-27 good
28-30 very good
30 e lode excellent

Strumenti a supporto della didattica

Slides, specialized articles and other didactic material will be made available before each lecture.

Orario di ricevimento

Consulta il sito web di Elettra Agliardi