5243 - FINANCIAL MARKETS AND INSTITUTIONS

The aim of the course is to provide students a thorough understanding of the financial system and its role in the economy, its organizational structures, and the main financial products supplied.

The following main topics are covered:

• financial markets, and their different branches i.e. the bond, stock and derivatives markets;
• management of the financial intermediaries.

By the end of this course students should have understood the basic theoretical principles and methodology of analysis of the financial system; the way it works in the real world and the construction and application of problem solving tools.

Financial system: structure and role
The financial system and the real economy; the function of financial markets and intermediaries; central banking and financial supervision.

Financial market and instruments
The money and exchange markets; the bond and stock markets; the derivatives markets: futures, options, and swaps.

Financial intermediaries
Banks: the banking activity and types of banks;  the bank's balance sheet and measures of performance; the financial risk management; insurance companies activities, insurance companies balance sheet and measures of performance; institutional investors.

The exam is written.

Students will have the possibility to partecipate to a mid-term exam.

• F. Mishkin e S. Eakins, Financial Markets and Institutions, Pearson 2006

Sono utilizzati in modo ricorrente nozioni e strumenti di Matematica finanziaria, oltre a nozioni più generali di Bilancio e di Economia aziendale e gestione delle imprese.