01645 - Financial Brokerage Economics

Learning outcomes

The purpose of the course is to increase the knowledge of financial system. By the end of the course, students learn about financial choices on saving and investments, the microstructure of the securities industry and the economic equilibria of banks. Last, the students will understand financial supervisory goal, instruments and authorities.

Course contents

Module 1 (Roberto Tasca)

1. Introduction. Structure of the financial system.
2. Criteria for addressing and managing financial challenges of households.
3. Payment instruments.
4. Bank and postal deposits. Government bonds.
5. Corporate bonds. Stocks.

Module 2 (Maurizio Mussoni)

1. Financial needs of households. Pure risk insurance for individuals and households.
2. Life insurance savings. Pension savings.
3. Businesses’ financial needs and instruments.
4. Businesses working capital and fixed capital financing.
5. Speculative risks related to coverage and management issues.
6. Derivative securities.

Readings/Bibliography

• Tasca R., Economia degli intermediari finanziari, McGraw-Hill CREATE, 2023. ISBN 9781307923506.

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).

Any additional material will be communicated at the beginning of the course, and made available online within the course's teaching material.

Teaching methods

In-class lectures and readings of the financial newspaper "Il Sole 24 ore".

Assessment methods

The exam will be based on two written midterm exams or a written total exam.

The two midterm exams are composed of two sections.

The first section consists of 10 questions. The candidate must answer, achieving a score of at least 5 points. Scores will be assigned as follows: 1 point for each correct answer, 0 for each unanswered question, (-0.20) for each incorrect answer. A score of 10/10 results in a final grade of 22. Passing the first part is mandatory for the correction of the second.

The second part consists of one question. A complete answer to the question is worth 8 points.

The time allotted is 45 minutes. The final grade is the average of the two partial grades.

The total exam consists of two parts. The first part consists of 18 questions. The candidate must answer, achieving a score of at least 9 points. Scores will be assigned as follows: 1 point for each correct answer, 0 for each unanswered question, (-0.20) for each incorrect answer. A score of 18/18 results in a final grade of 24. Passing the first part is mandatory for the correction of the second.

The second part consists of two questions. A complete answer to each question is worth 4 points.

The time allotted is 90 minutes.

The final grade is expressed out of 30 points according to the following graduation:

• < 18: fail
• 18-23: sufficient
• 24-27: average/good
• 28-30: very good
• 30 cum laude: excellent/outstanding

A positive final grade cannot be rejected more than twice. The rejection of the vote must be communicated via email within the day of the teacher’s subsequent office hours.

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.

Teaching tools

Teaching material: the financial newspaper "Il Sole 24 Ore", 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).

Office hours

See the website of Maurizio Mussoni

See the website of Roberto Tasca