Learning objectives
The course aims to provide a structured approach to acquiring foundational knowledge of financial markets, financial intermediaries, and financial contracts, as well as to foster an understanding of their functions and evolving dynamics.
By the end of the course, students will have developed:
Knowledge: An understanding of key financial instruments, financial markets, banks, and other financial institutions.
Practical skills: The ability to interpret and evaluate the behavior of financial actors (investors, intermediaries, regulatory authorities) in relation to the regulatory framework and the economic environment.
Critical thinking: The ability to critically assess the operations of the financial system and its role within the economy.
Communication skills: The use of appropriate technical language when discussing financial topics.
Learning ability: The capacity to apply acquired knowledge to understand the evolution of the financial system and address complex issues.
Prerequisites
None, except for any prerequisites set by the Department.
Course unit content
The course aims to provide foundational knowledge on markets, financial instruments, and intermediaries. It will analyze the components that make up the financial system, including the regulatory and supervisory frameworks that characterize it, particularly at the European level and its evolutions following recent crises. The objective is to examine the structural and functional aspects of financial markets, the various types of financial instruments in relation to users' needs, and the different types of financial intermediaries from both operational and managerial perspectives, with particular attention to the risks they bear. The key perspective on financial intermediaries is their continuous evolution driven by ongoing innovation, supporting the real economy and contributing to the development of the country and its citizens.
Full programme
Structure and Functions of the Financial System
Financial Infrastructures
Financial and Credit Instruments: Technical Characteristics and Evaluation Criteria
Financial Markets and Efficiency Conditions
Securities Intermediaries and the Role of Institutional Investors
Banks - Operational and Managerial Characteristics
Non-Bank Credit Intermediaries
Insurance Intermediaries
Financial Regulation and Supervision
Bibliography
Gli strumenti finanziari e creditizi, a cura di Tagliavini G., Poletti L., Ronchini B., quarta edizione, McGraw-Hill, 2022.
Economia del sistema finanziario, a cura di Bocchialini E., Poletti L., Ronchini B., Tagliavini G., Giappichelli, 2021
Teaching methods
Acquisition of Knowledge: Lectures. The lectures will cover the essential topics required to pass the exam.
Acquisition of the Ability to Apply Knowledge: Practical exercises.
Acquisition of Independent Judgment: Students will be encouraged to identify the strengths and weaknesses of financial instruments and intermediation models throughout the course.
Acquisition of Learning Skills: Each topic will begin with an illustration of the problem to be solved, followed by a critical analysis of the solutions adopted.
Acquisition of Technical Language: The meaning of terms commonly used in the financial community will be explained during the course.
Assessment methods and criteria
The final exam will be written and will have a total duration of one hour, with approximately one-third of the time dedicated to multiple-choice questions. The assessment of competencies will be carried out through:
7 questions (exercises, multiple-choice questions, true/false), each worth 1 point.
6 questions (exercises, multiple-choice or completion questions), each worth 2 points.
2 open-ended questions, each worth up to 6 points.
Honors will be awarded if the maximum score is achieved in all questions.
The exam results will be published on Esse3 within 8 days after the exam. The ability to apply knowledge will be assessed primarily through exercises. Communication skills, critical thinking, and learning ability will be evaluated through the analysis of both open-ended and closed questions.
Other information
Please note: The course slides complement but do not replace the textbooks in any way.
Midterm Exams: In lieu of the final exam, the instructor may at their discretion schedule several written midterm exams during the course. The structure of the midterm exams may differ from that of the official exams and, if scheduled, will be announced on Elly.
During exams, students are allowed to use only an identification document and a black ink pen. The use of any aids, including notes and electronic devices (smartphones, smartwatches, tablets, etc.), is strictly prohibited.
2030 agenda goals for sustainable development
UN 2030 Agenda Goals 4 and 10 - Quality Education and Reduced Inequalities
