75909 - Economics of Financial Intermediation

Learning outcomes

The course aims to provide the tools needed to study the characteristics, role and functioning of financial systems. The aim is to understands the long-term and recent developments of financial systems, such as globalization of financial markets, European integration and Monetary union, the development of financial markets and financial crises. At the end of the course, the student is expected to: - know the main theoretical references for the study of interest rates and the valuation of financial assets; - know how to analyze the functions of the financial system; - deepen the study of the financial decisions of households and firms, the characteristics of financial intermediaries and institutional investors and the structure of financial markets, - knows the regulation of financial systems, the theoretical elements that motivate the reason for being and the general criteria that inspire regulation in the various institutional contexts.

Course contents

The course deepens the features of the financial system and analyzes the main functions. The following will be developed: i) Theoretical references for the study of interest rates; (Ii) the role of central banks and the objectives and instruments of monetary policy; (Iii) the characteristics and operations of the financial markets (money, bonds, equities and foreign exchange); (Iv) the role and the reasons for the existence of financial intermediaries; (V) the characteristics and functioning of the main financial institutions (commercial banks, investment funds, insurance companies, pension funds, investment banks, brokers and dealers, venture capital companies); (Vi) the risks and management tools used by financial institutions; Vii) regulation of the financial system. During the course will also be analyzed the phenomena of financial crises; a specific insight will be devoted to the recent financial crises.

 

The topics in Sections I to IV will be covered during the first module (Prof. Giuseppe Lusignani) while the remaining ones in the second module (Prof. Stefano Cenni)

Readings/Bibliography

F. Mishkin, Eakins G., Forestieri G, Istituzioni e mercati finanziari, Pearson, ottava edizione 2015 or F. Mishkin, Eakins G., Financial markets and Institutions, Pearson, Eighth Edition 2016.

Other bibliographical indications will be provided during the course and will be available in the reserved area https://campus.cib.unibo.it/cgi/users/ by subscribing to the distribution list: giuseppe.lusignani.EIF1718 (https: //www.dsa .unibo.it /uniboldap2 /logout.aspx)

Teaching methods

Lectures and seminars

Assessment methods

The exam consists of a written test, which is divided into questions, exercises and tests on the various topics of the course. At the written test, the date of the meeting for the illustration of the results of the tests and the registration of the vote will be announced.

Teaching tools

Lectures with projector support

Office hours

See the website of Giuseppe Lusignani

See the website of Stefano Cenni