Economia degli intermediari finanziari - ENG

FINANCIAL MARKETS AND INSTITUTIONS

Prof. Vincenzo Capizzi
Dott.ssa. Paola Zocchi

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


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 and pension funds
- regulation and supervision of financial markets and institutions


Course Texts:

- Customized version for the University of Piemonte Orientale of the book: Nadotti, Porzio, Previati, “Economia degli Intermediari finanziari” Mc Graw-Hill (this customized version correspond to the second edition of the original volume with the exclusion of the following chapters: 3, 11 e 13 and will be in print starting from January 2015).
- The instructors 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 instructors to get the password.


Other suggested reading:
Mishkin, "Financial Markets and Institutions", 7th Edition, Pearson, 2013.
The instructors are willing to indicate a study plan in English for Erasmus and free mover students.




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.