Financial Intermediaries and Financial Markets
CORSO DI STUDIO: Corso di laurea magistrale LM Economics a.a. 2015/2016
DENOMINAZIONE INSEGNAMENTO / Course title
Financial Intermediaries and Financial Markets
Lingua dell'insegnamento: Inglese
Crediti e ore di lezione: 12 CFU (96 hours)
Moduli: SÌ (First and second module)
Settore scientifico disciplinare: SECS-P/11
Docenti: Marco Galdiolo (Second module) and Maria Claudia Schneider (First module)
Indirizzi email: marco.galdiolo@hotmail.it; maria.schneider@uniud.it
PREREQUISITI E PROPEDEUTICITÀ / Requirements
Students are not required to take preliminary courses. However, the knowledge of basic finance and functioning of financial markets are necessary to understand the topics considered in the programme.
CONOSCENZE E ABILITÀ DA ACQUISIRE / Knowledge and skills
The course is aimed at deepening some applied banking and financial models generally useful to understand the macro-economic context and mainly used by policymakers (Central Banks), Regulators and more in general by international banks and financial operators.
Ability relative to the discipline
The first module of the course is aimed at analyzing the basis of the functioning of financial markets and their main variables as well as the functioning of Central Banks, with a focus on the ECB.
The second module of the course is devoted to some financial and economic models generally used to manage the financial and banking business.
Some empirical examples in the economic context will be considered, together with the methodological aspects and with the compliance aspect required by the external international regulations.
At the end of the course, each attending student will be able to:
- Understand the functioning of financial markets and their main variables;
- Understand the Central Banks’ objectives and rationales;
- Understand the operating system and the policies of Central Banks, with a focus on the ECB and its tools to impact on the intermediate targets and on the real economy;
- Understand the banking and financial context and the different banking and financial models operating in the international financial markets.
- Understand the models used to manage the risk management function and the compliance function inside an international financial operator;
- Understand the different model and organizational aspect to manage a financial portfolio and to invest in the asset management products and services;
- Understand the models to manage the credit function of a bank, mutual funds and others financial operators.
Soft skills:
- The student will gain the theoretical basis in order to understand differences in financial models and to understand in which context these models can be efficiently applied (banking oriented system and market oriented system)
- The student will be able to underline advantages and disadvantages of the models with respect to different contexts in which they can be applied.
PROGRAMMA E CONTENUTI DELL’INSEGNAMENTO / Course description
MODULE: FIRST
- Risk and term structure of interest rates;
- Market efficiency and rational expectations;
- The role of Central Banks in financial stability goals;
- Main policy goals and objectives of Central Banks with focus on the ECB;
- Operating systems of Central Banks with focus on ECB.
MODULE: SECOND
- Scenario and European banking system
- Dynamics of bank deposits
- Standard regulatory and European Directive “Mifid”
- Regulatory perimeter
- Management regulations as competitive factor
- Asset Management
- Portfolio Management
- Impacts on the banking system and its rules of the recent crisis
- Credit function and risk analysis
ATTIVITÀ DI APPRENDIMENTO E METODI DIDATTICI PREVISTI / Teaching and Learning activities
Concerning the first module, teaching is based on lectures supported by PPT presentations and seminars in order to show and contextualize the most recent data concerning the relevant topics.
Concerning the second module, teaching is based on lectures supported by PPT presentations that will be posted on the web area “materiale didattico”.