20264 - COMPARATIVE FINANCIAL SYSTEMS
CLMG - M - IM - MM - AFC - CLEFIN-FINANCE - CLELI - ACME - DES-ESS - EMIT - GIO
Course taught in English
Go to class group/s: 31
The course main objectives can be summarised as follows:
Review the conceptual framework for analysing the role of financial systems and comparing them across countries and over time, in particular looking at the main channels of intermediation: banks vs financial markets.
Discuss the current problems of the international financial system. In particular, a large section is devoted to the causes and implications of the crisis that began in June 2007 and which will shape the evolution of the global financial system in the foreseeable future.
Look at the various issues both at the macro and the micro level: from this point of view, we discuss the main implications for the business models of the main global intermediaries with particular reference to the three main geographic areas: Europe, Us, Asia. These topics are also discussed in special guest lectures with international experts.
The course is divided into four parts, devoted to:
General issues (role of the financial system; literature on comparing financial systems).
Anatomy of a crisis (the effects on main financial systems and the main causes of the crisis).
The main weaknesses from a macro and a micro point of view.
- The strategic issues for the main global players.
Valuation is based on a final written exam, based on multiple choice questions and open questions. Individual essays (as a part or alternative to the final exam, depending on the length of the essay) can be assigned to attending students. Topics are chosen at mid-course.
Further details on all the points are given in the syllabus available at the beginning of the course.
Notes on the functions of the financial system (available on the weblearning space). Papers from the main international bodies (such as the IMF and the ECB) which are detailed in the syllabus and available on the institutions’ website (links are provided on the weblearning space). Slides of the course (also available on the weblearning space).
Basics of Financial intermediation and Finance.