Economia degli intermediari finanziari - ENG

FINANCIAL MARKETS AND INSTITUTIONS

Prof. Gian Marco Chiesi

Course Code: E0045
Subject code: SECS-P/11
8 ECTS - 64 hours
Location: Casale Monferrato

Educational aims

The course aims to provide a deep understanding of the organization, structure, and performance of the financial markets and institutions. The emphasis of the course is both on the theoretical understanding of key concepts and on practical issues related to the various financial instruments.

Prerequisites

Sitting for the test of this course is allowed to students that passed the following test course: Business Economics.


Content of the course

- structure and functions of the financial system
- financial instruments: classification and characteristics
- utility functions of investors and borrowers
- life cycle theory of the firm and life cycle theory of the family
- the efficient market hypothesis and  the rationale for the existence of financial intermediaries
- competition and convergence between financial markets and institutions
- fundraising instruments of the banks
- domestic and international payment instruments.
- financing instrument (short term and long term)
- government and corporate bonds: valuation, yield and ratings
- stock exchange market
- insurance instruments
- regulation and supervision of financial markets and institutions


Course Texts

- G. Forestieri - P. Mottura, Il sistema finanziario, EGEA, Milano, 2009 (fifth edition).

With the exclusion of paragraphs: 3.3, 4.5, 4.6, 6.5, 6.6, 6.7, 8.2, 8.3, 8.4, 8.5, 8.6, 8.7, 8.8, 8.9, chapter 9,  chapter 10.

- L. Munari, Strumenti finanziari e creditizi, McGraw-Hill, Milano, 2011 (second edition)

With the exclusion of : chapter 1, chapter 4, chapter 5, chapter 8, chapter 11, chapter 12, paragraph 14.3, paragraph 14.4.2, paragraph 14.5, chapter 16,  chapter 17.

The instructor will provide other compulsory teaching material by the course official web page at the following link: https://eco.dir.unipmn.it. The login to the web page requires a password. Please contact the instructor to get the password (gianmarco.chiesi@eco.unipmn.it)
For further information, please make reference to the course official web page.


Teaching method

Face-to-face lessons, lectures and exercises. Class participation is not compulsory.


Examination

One compulsory written exam (closed books and closed notes) constituted of 5/6 questions (open questions, multiple choice questions and exercises) with a 75 minutes duration, covering the whole course program. During the period of teaching all students may sit for a partial test.