Learning objectives
The course aims to illustrate the structural features of financial systems, providing the necessary cognitive keys to understand financial dynamics and find solutions to the financial needs of agro-food businesses.
At the end of the course students will 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, and the financial needs of firms and families, focusing in particular on agro-food businesses;
2) Assess the pros and cons of specific financial instruments in order to find proper solutions for investments, financing, payment management and risk management;
3) Use an appropriate technical language to communicate with financial market operators;
4) Learn through the logical method in order to identify problems and find critical analysis patterns.
Prerequisites
There are no prerequisites
Course unit content
After explaining the functions of a financial system, we analyse the conditions for its efficiency, with a particular focus on the 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, and focussing on securities markets, financial intermediaries, supervisory authorities’ activities and financial system’s regulatory bodies.
During the course, sustainability-related issues will be analysed.
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.
Bibliography
Economia del Sistema finanziario - 2 edizione di E. Bocchialini, L. Poletti, B. Ronchini, G. Tagliavini, Giappichelli, 2021.
Strumenti finanziari e creditizi, IV edizione, G. Tagliavini - L. Poletti - B. Ronchini, McGraw Hill, 2022.
Teaching methods
Acquisition of knowledge: class lectures will highlight 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 the pros and cons of financial instruments and intermediation 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, the meaning of the terms commonly used by the financial community will be illustrated.
Assessment methods and criteria
Written exam
The acquisition of knowledge will be tested with 6 closed-ended questions that are graded up to 2 points each and 2 open questions evaluated up to 6 points each.
The application of acquired knowledge is tested with 3 exercises that will be evaluated up to 2 points 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.
The final grade is published on Esse3.
Mid-term tests might be used, upon agreement at the beginning of the course.
Other information
For students who must take the exam for 8 credits, the parts to be left out will be indicated at the beginning of the course, both on Elly and in the syllabus.
