Know the functioning and the motivations of the existence of the financial system and its main components (financial intermediaries, markets and instruments). Know the mechanisms at the basis of the regulatory and supervisory systems as well as the motivations behind these. Acquire the terminology and vocabulary specific of the economics of financial intermediaries. Be able to distinguish among the various types of financial intermediation activities. Additionally, be able to describe the different instruments, also in relation to the risks involved in a specific financial instrument.
Course Prerequisites
No prerequisites requested, but a comprehension of the basic mechanisms at micro and macro economic level, as well as fundaments of business&management can favour the learning of the topics covered during classes.
Teaching Methods
Lecture with discussion with students. Additional seminars might be arranged. Group work: students will have the possibility to participate in a team works aimed at developing research skills, and promoting a better understanding of the topics of the course.
Assessment Methods
For all students (attending and non-attending) the exam is written and consists of 10 closed-ended questions (first part) and 1 question or exercise that requires an open answer (second part). The score assigned to the exam is overall 31 points (corresponding to a grade of 30Lode), divided as follows: 20 points for the first part (closed-ended questions) and 11 points for the second part (open-ended question). Incorrect closed-ended questions (multiple choice, true/false, fill-in-the-blank, etc.) do not incur penalties. However, only students who obtain a score equal to or greater than 10 (out of 20) in the first part of the exam will be admitted to take the second part. The written test has a total duration of 45 minutes. It is not possible to use any material during the exam (except the standard calculator). Optional: participation in seminar activities organised by the lecturer, which will be communicated through e-learning. Grades will be announced through the University system. No other forms of learning assessment are possible. Only students regularly registered through the University system (esse3) are admitted to take the exam. There are no exam sessions or dates outside the official dates (no pre-exams or extraordinary sessions). There is no intermediate test.
Texts
L. Nadotti, C. Porzio, D. Previati, Economia degli intermediari finanziari, McGraw Hill, ultima edizione
Contents
The course aims at analysing the role and the characteristics of the financial system (with special reference to the Italian one), the reasons for the existence of the various types of financial intermediaries (banks, insurance companies, institutional investors) and the functions delivered by these subjects within the financial system. It analyses, in particular, the evolution of the activities performed by the credit institutions (first 6 CFU). Additionally, the course aims at analysing the topics of regulation and supervision of the financial system and of their evolution. Major attention is devoted to the analysis of the main risks of financial intermediaries and the instruments available for their measurement and management.. More in detail the course will cover the following topics: -The functions of the financial system -The financial markets -Financial intermediation -The various types of financial intermediaries -The activity of credit institutions -The regulation of the financial industry -The financial and economic profile of financial intermediaries -Risks and their management by financial intermediaries.