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

Contents:

The financial system: components
instruments
markets
intermediaries
regulation

Functions of the financial system:
payment system
transmission of monetary policy
intermediation

Reasons for the existence of intermediaries

Classification of intermediaries:
Banks
Non-bank credit intermediaries
Securities brokers
Participation intermediaries

Money, bond and stock market

Principles of bank management

Risk management

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, capp. 1, 2, 3, 6, 7 (solo par. 7.7), 8, 9 , 10 (solo par. 10.6, 10.7 e 10.8), 11 (eccetto par. 11.5), 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 practical point of view through open questions, exercises and multiple-choice tests. The exam, 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;
understand the characteristics of the various financial intermediaries;
evaluation methods of the most critical decision-making variables of a financial intermediary: returns/risks/prices

Preparation is assessed through a final written exam of a maximum duration of 60 minutes which takes place on Esami OnLine (EOL): participation is allowed only to students i) who have registered for the test on Almaesami and ii) in good standing with the payment of tuition fees.

The exam is divided into three parts:
15 closed multiple choice questions of which only one is correct: the correct answer is worth one point, the missing or incorrect answer zero points
Two exercises (3 points each)
Three open questions (4 issues each).
The maximum score achievable (33) corresponds to thirty cum laude. In particular, concerning the level of preparation demonstrated in the exam:
<18: insufficient
18-23: Sufficient
24-27: good
28-30: Excellent
30 cum laude: excellent

A facsimile of the exam paper is available on EOL.

In addition, as required 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 allowed once and only once, even if a mark of less than 18 is achieved in the first test. The final evaluation comprises the arithmetic mean of the assessments obtained in the two partial tests: students who have not passed the exam through the partial tests will have to retake it, on the whole program, at the first helpful official session.

Viewing the correct exam papers on EOL and asking for clarifications through appointments fixed with the teacher through teams is possible.

The recording of grades takes place automatically (in the student's absence) electronically after the fifth day following the publication of the results on Almaesami: the grade can be refused once (art. 16, paragraph 5 University teaching regulations). Graduating students who need to record their grade in advance are invited to communicate them to the teacher by e-mail.

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