Learning objectives
The course aims to illustrate the structural characteristics of a financial system, supplying the conceptual framework in order to understand the role of financial institutions in the economic system. At the end of the course the students will acquire:
1)the knowledge necessary to understand the features and the development of the financial system in general, the aims and scope of financial supervision, the role and the economics of financial intermediaries, the characteristics of financial needs and of financial instruments;
2)the ability to apply knowledge in order to evaluate financial instruments used for investments, financial needs, payments and risk management;
3)the ability to judge the suitability of a financial system to the real problems of the economic system, even in the social and ethical point of view, and to choose the right instruments to satisfy financial needs;
4)the ability to use a fair technical language;
5)learning skills through problem solving method.
Prerequisites
Students are suggested to attend first year lessons before attending this course.
Course unit content
After having illustrated the functions of the financial system, the conditions are analyzed to judge its efficiency. This interpretation is used to critically evaluate the structure and evolution of the Italian financial system. The subjects that operate within it are therefore analyzed, starting from the financial intermediaries up to the supervisory authorities. In this perspective, financial instruments are analyzed, illustrating their evaluation criteria according to the needs they satisfy both from the point of view of households and companies, the financial markets in which these instruments are traded, the financial intermediaries who negotiate them, the authorities supervisory and regulatory authorities that control and regulate the correct functioning of the instruments.
Full programme
1) The structure and role of the financial system; 2) The demand for financial services; 3) Valuation of financial instruments; 4) The payment system; 5) 2 Financial balances and financial intermediation; 6) Financial markets and the conditions of financial market efficiency; 7) Market imperfections and the role of financial institutions 8) The characteristics and the role of banks; 9) Non-banking financial institutions; 10) Insurance companies; 11) Supervising the financial system: objectives and authorities; 12) The tools for supervision of the financial system.
Bibliography
Strumenti finanziari e creditizi (4edizione) 2022 (edito Giulio Tagliavini, Lucia Poletti, Beatrice Ronchini) McGraw Hill
Capitoli da studiare: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 13, 15, 16, 19, 20, 21
Economia del sistema finanziario (Ronchini, Poletti, Bocchialini) Giappichelli Milano
Tutto il libro.
Slides and any other additional material are on Elly.
Teaching methods
Knowledge and understanding: traditional lessons. The main topics of the course will be pointed out during lessons.
Applying knowledge and understanding: exercises
Making judgments: students will be induced to judge strength and weakness of each financial instrument and intermediation model.
Learning skills: every topic will be discussed beginning from the illustration of the problem and then analyzing the given solution.
Communication skills: the meaning of each term used by the financial community will be explained.
Assessment methods and criteria
Written test
The acquisition of fundamental knowledge will be assessed with 10 multiple choice questions.
Each question is worth 1 point (total 10 points).
Furthermore, the ability to apply the knowledge acquired will be assessed with a further 5 multiple choice questions to which one will also be asked to motivate the choice of answer (each question will be worth 2 points, for a total of 10 points)
The ability to apply the acquired knowledge will be assessed with a numerical exercise worth 5 points. The ability to communicate with appropriate technical language, the independence of judgment and the ability to learn will be ascertained through the analysis of the answers to the semi-open question worth 5 points.
During the exam, the use of electronic devices such as smartphones, smartwatches, tablets, etc. is strictly prohibited. The results will be communicated on Esse3.
Honors will be awarded to particularly deserving students who, in addition to having complied with the requisites necessary to obtain the full assessment, have demonstrated overall appreciable systematic knowledge of the subject in carrying out the test, an excellent ability to apply the acquired knowledge to the specific problem in question, a significant independence of judgment, as well as particular care in the formal drafting of the paper.
Other information
The course material is on Elly.
2030 agenda goals for sustainable development
