Learning objectives
The course aims to illustrate the structural features of financial systems, providing the necessary cognitive keys to understand financial dynamics and to find solutions to financial needs of agro-food businesses.
At the end of the course students are be able to:
1) Understand the characteristics and evolution of the financial systems, the regulation of intermediaries and financial markets, the role and the activities of the main types of financial intermediaries, the financial needs of firms and families, focusing in particular on agro-food businesses;
2) Assess pros and cons of specific financial instruments in order to find proper solutions for investments, financing, payment management and risk management;
3) Read financial statements to diagnose problems in progress and to define coherent solutions; in this perspective, focus is on financial equilibrium’s issues and the adequacy of operational cash-flow;
4) Use an appropriate technical language to communicate with financial market operators;
5) Learn through the logical method in order to identifying problems and to find critical analysis patterns.
Prerequisites
There are no prerequisites
Course unit content
After explaining the functions of a financial system, we analyse the necessary conditions to deem it efficient specifically taking into account and evaluate the structure and evolution of the Italian financial system. In this perspective we focus on different financial instruments, illustrating the evaluation criteria in terms of the needs they meet, securities markets, financial intermediaries, supervisory authorities’ activities and financial system’s regulation bodies. Finally we dive into the different financial interpretations of the financial statements.
Full programme
1) Structure and functions of the financial system; 2) Financial needs and the demand for financial instruments by agro-food businesses; 3) Financial and credit instruments: characteristics and valuation criteria; 4) Payment System; 5) Financial balances and allocative function; 6) Financial markets and efficiency conditions; 7) Market’s imperfections and the role of financial intermediaries; 8) Banks: features and functions; 9) non-bank financial intermediaries; 10) Insurance intermediaries; 11) Financial system supervision: objectives and authority; 12) Financial balance of enterprises, self-financing and financial performance.
Bibliography
Economia del Sistema finanziario, di ELISA BOCCHIALINI, LUCIA POLETTI, Beatrice Ronchini, Giappichelli, 2019.
G. Tagliavini - M. Iotti, Dispensa del corso, McGraw Hill, 2021.
Teaching methods
Acquisition of knowledge: class lectures. During the course it will be highlighted the subject’s key topics, which are essential for passing the exam.
Acquisition of the ability to apply knowledge: exercises.
Acquisition of autonomous judgment: during the course students will be stimulated to identify pros and cons of financial instruments and brokerage models.
Acquisition of learning skills: every topic will start from the illustration of the problem to be solved and then critical solutions will be analysed.
Acquiring technical language: during the lessons it will be illustrated the meaning of the terms commonly used by the financial community.
Assessment methods and criteria
Written exam
The acquisition of basic knowledge will be tested with 6 closed-ended questions that are graded up to 2 points each and an open question evaluated up to 6 points.
Other more specific topics covered through lectures are tested with 3 closed-ended questions, each graded up to 1 point, and an open question, graded up to 6 points.
Application of acquired knowledge is tested with 3 exercises that will be evaluated up to 1 point each.
The ability to communicate with the appropriate technical language, judgment autonomy and the ability to learn will be verified by analysing the answers to the open questions. Mid-term tests could be used.
Other information
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