Learning objectives
Combining theory and policy and starting from the functions of the financial system, the course examines and explains financial markets, financial institutions and challenges in the domain of financial supervision. By the end of the program students will be able:
- (Knowledge and understanding) to demonstrate sufficient knowledge of the topics indicated in the program; to understand the basic theoretical principles and methodology that underlie the evolution of the financial system and the main drivers of innovation (changing client needs, regulation and technology);
- (Knowledge and understanding applied) to demonstrate the possession of critical skills in understanding the financial system and its role in the economy, looking at the financial markets, the financial intermediaries and the main financial instruments;
- (Making judgments) to demonstrate the ability to integrate knowledge and manage the complexity of the financial context;
- (Communication skills) to be able to communicate clearly their knowledge, to express considerations and conclusions also in relation to practical cases; to demonstrate to have acquired, in the exposition of the contents, argumentative coherence, logical-systematic rigor and language properties;
- (Ability to learn) to demonstrate the ability to understand the complexity of the financial phenomenon, as well as methodological and learning skills that will allow it to continue in the study of the subject in an autonomous way, also through a constant updating of its own skills.
Prerequisites
None, without prejudice to any Department requirements. To take the exam students are suggested to have attended first year lessons.
Course unit content
The course analyzes the role of financial system in order to evaluate the structure and the evolution of Italian financial system. In this perspective are analyzed financial needs, instruments, markets, institutions, authorities and supervision policies of the financial system. The course aims to illustrate the architecture and operation of financial systems, with an emphasis on the functioning of the Italian and European systems.
Full programme
1) Functions and architecture of the financial system 2) Financial infrastructures 3) Financial instruments 4) Financial markets 5) The role of institutional investors 6) Banks 7) Non-banking financial institutions 8) Insurance companies and financial conglomerates 9) Financial regulation and supervision
Bibliography
Munari L., Gli strumenti finanziari e creditizi, McGraw-Hill, 2014.
Ronchini B., Poletti L., Bocchialini E., Economia del sistema finanziario, Giappichelli, 2019.
Teaching methods
Lectures and exercises.
In the COVID-19 emergency period, the teaching will be delivered in a mixed-mode that include both asynchronous and synchronous learning experiences. In more detail, the teaching will include 40 hours of lectures in live streaming and 23 hours of pre-recorded lectures (these video lessons will then be uploaded and published on the Elly portal). Other methods or format could be proposed in accordance with the University ordinances.
Assessment methods and criteria
A) As long as the public health emergency related to COVID-19 continues, the method of assessment will be: written + oral examination (see more details on Elly platform)
B) In ordinary times the assessment of students' learning entails a written examination only. The Knowledge of the topics of the course will be find out by:
- 6 multiple-choice questions each evaluated 1 mark;
- 6 multiple-choice questions each evaluated 2 marks;
- 2 open questions each evaluated up to 6 marks.
Applying knowledge will be find out by exercises. Communication skills, making judgments and learning skills will be find out by analyzing the answers to the 2 open questions cited above.
In order to obtain a score of 30/30 cum laude, the student have to demonstrate to have achieved a level of excellence with regards to all the descriptors (knowledge and understanding, knowledge and understanding applied, making judgments, communication skills, ability to learn).
At the discretion of the teacher, the final exam could be replaced by the successful completion of two intermediate tests carried out during the course.
Other information
All the teaching material are uploaded on the Elly portal at the beginning of the course and are downloadable for free. Note that they don't replace the textbook, but supplement it at most.
During the exam it is forbidden to consult notes, slides, books, pocket calculators and any other electronic devices such as smartphones, smartwatches, tablets, etc.
