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.
None. Students are suggested to attend first year lessons before attending this course.
Course contents summary
The course analyzes the role and the efficiency conditions of a 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.
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.
Munari L., Gli strumenti finanziari e creditizi, terza edizione, McGraw-Hill, 2015.
Ronchini B., Poletti L., Bocchialini E., Economia del sistema finanziario, Giappichelli, 2019 (forthcoming).
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
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;
- 3 open questions each evaluated up to 5 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 3 open questions cited above.
The “lode” is awarded if the highest score is reached in every exercise.
The final grade will be published in esse3 within 8 days of taking the exam.
The fulfillment of the written test can be replaced by the succesful completion of partial written tests, scheduled during the course. The structure of the partial tests will be the same as the whole tests.
Devices such as smartphones, smartwatches, tablets, etc. will be strictly forbidden.
The course materials will be uploaded weekly to Elly platform. To download the materials it is necessary to register for the course with a password that will be communicated at the beginning of the course. The slides of the course should not be considered as a substitute for the course textbook, but - if anything - they are an integral part of it.