The course aims to provide the knowledge needed to understand the nature and purposes of financial systems and markets and instruments used by the players of financial intermediation.

The course concerns the most notable topics of the financial intermediation theory, the economic role and working principles of the intermediaries.

Course outline:

PART I: Key features of the financial system

-  Exposition of the economic units’ behaviors, which bring financial exchange into being;

-  basic knowledge is also provided to understand the structure and function of financial systems in the process of resource mobilization within the economic system.

-  description of the main financial system supervision issues and of the different supervisory model features;

-  the role of financial intermediaries role in terms of efficiency and stability;

-  focus on Basilea agreements and credit intermediaries.

PART II: Financial system’s institutions

-  Main features of the financial exchanges instruments, in particular bonds, shares and derivative instruments;

-  analysis of the risk-return tradeoff features of each financial instrument;

-  financial market working principle and their distinction in stock and bond market;

-  analysis of banks' activities and more generally of credit intermediaries.
 

PART III: Financial intermediation theory, the economic role and working principles of the intermediaries, the instruments offered by the financial system.

-  Fundamentals of the financial intermediation theory, especially those that explain the birth of financial intermediaries and the information asymmetries paradigm;

-  explanation of the notion of efficiency in its various forms; the adverse selection and the opportunistic behavior problems;

-  main instruments used in financial exchanges.

None

• Knowledge and understanding : at the end of the course students will be able to understand the working principles of financial systems.
• Applying knowledge and understanding: at the end of the course students should be able to adequately and precisely implement their knowledge in the field of financial systems efficiency evaluation.
• Making judgements: students will be able to evaluate the financial system’s integration and efficiency.
• Communications skills: at the end of the course students should be able to share their evaluations and opinions about financial systems in a clear and effective way.
• Learning skills: at the end of the course students should have learned the main evaluation criteria of financial systems efficiency.

The teaching material prepared by the lecturer in addition to recommended textbooks (such as for instance slides, lecture notes, exercises, bibliography) and communications from the lecturer specific to the course can be found inside the Moodle platform › blended.uniurb.it

Teaching

Classroom-taught lesson. It is recommended to attend lectures, in order to achieve a better understanding of the subject and, consequently, of the final exam.

Course books

-Teaching material made available by lecturer can be found inside the Moodle platform (blended.uniurb.it), together with other supporting activities.

Course Books:

Alberto Banfi, Massimo Biasin, Marco Oriani, Gianmario Raggetti, Economia degli intermediari finanziari, seconda edizione, Isedi, 2014.

For attending students only: professor’s .ppt slides and pamphlets will replace some of the book chapters.

Assessment

Written exam with open-ended questions.

The evaluation criteria and the scale of marks are as follows:

less than 18/30: competence level insufficient. The student doesn’t reach the learning results described in “knowledge and understanding”.

18-20: competence level sufficient. In particular, the student attains the learning results described in “knowledge and understanding”.

21-23: competence level satisfactory. In particular, the student attains the learning results described in “knowledge and understanding” and in “applied knowledge and understanding”.

24-26: competence level good. In particular, the student attains the learning results described in “knowledge and understanding”, “applied knowledge and understanding” and “making judgments”.

27-29: competence level very good. In particular, the student attains the learning results described in “knowledge and understanding”, “applied knowledge and understanding”, “making judgments” and “communication skills”.

30-30 with honours: competence level excellent. The student fully attains the learning results described in “knowledge and understanding”, “applied knowledge and understanding”, “making judgments” and “learning skills”.

Disabilità e DSA

Le studentesse e gli studenti che hanno registrato la certificazione di disabilità o la certificazione di DSA presso l'Ufficio Inclusione e diritto allo studio, possono chiedere di utilizzare le mappe concettuali (per parole chiave) durante la prova di esame.

A tal fine, è necessario inviare le mappe, due settimane prima dell’appello di esame, alla o al docente del corso, che ne verificherà la coerenza con le indicazioni delle linee guida di ateneo e potrà chiederne la modifica.

Course books

Home learning of the book and of the teaching material made available by lecturer inside the Moodle platform (blended.uniurb.it).

Assessment

Written exam with open-ended questions.

The evaluation criteria and the scale of marks are as follows:

less than 18/30: competence level insufficient. The student doesn’t reach the learning results described in “knowledge and understanding”.

18-20: competence level sufficient. In particular, the student attains the learning results described in “knowledge and understanding”.

21-23: competence level satisfactory. In particular, the student attains the learning results described in “knowledge and understanding” and in “applied knowledge and understanding”.

24-26: competence level good. In particular, the student attains the learning results described in “knowledge and understanding”, “applied knowledge and understanding” and “making judgments”.

27-29: competence level very good. In particular, the student attains the learning results described in “knowledge and understanding”, “applied knowledge and understanding”, “making judgments” and “communication skills”.

30-30 with honours: competence level excellent. The student fully attains the learning results described in “knowledge and understanding”, “applied knowledge and understanding”, “making judgments” and “learning skills”.

Disabilità e DSA

Le studentesse e gli studenti che hanno registrato la certificazione di disabilità o la certificazione di DSA presso l'Ufficio Inclusione e diritto allo studio, possono chiedere di utilizzare le mappe concettuali (per parole chiave) durante la prova di esame.

A tal fine, è necessario inviare le mappe, due settimane prima dell’appello di esame, alla o al docente del corso, che ne verificherà la coerenza con le indicazioni delle linee guida di ateneo e potrà chiederne la modifica.

Gli studenti partecipanti a programmi ERASMUS sono tenuti a preparare l’esame studiando l’intero materiale predisposto, se frequentanti, i libri obbligatori e/o consigliati se non frequentanti. L’esame si svolgerà in italiano. Non sono ammesse altre modalità di preparazione e di passaggio dell’esame.

ERASMUS students are held to prepare the examination by studying the entire provided material (attending only), recommended books are required if not attending. Examination will be carried out in Italian language. Other exam preparation and passing modalities are not allowed.
 

Les étudiant participants à des programmes ERASMUS sont tenus à préparer l'examen en étudiant l'entier matériel prévu, si fréquentant, les livres nécessaires et/ou conseillés si pas fréquentants. L'examen se déroulera en langue italienne. Elles ne sont pas admises autres modalités de préparation et de passage de l'examen.
 
Los estudiantes participantes a programas ERASMUS tienen que preparar el examen estudiando la totalidad del material previsto, si frecuentando, las libras obbligatorias y/o aconsejadas si no frecuentando. El examen se desarrollará en lengua italiana. No seran permitidas otras modalidades de preparación y paso del examen.

Die teilnehmenden Studenten zum ERASMUS Programm, die die Vorlesungen besuchen, sollen sich auf dem ganzen Material vorbereiten; wenn sie nicht besuchen werden, sollen sie die obligatorischen und empfehlten Bücher lernen.  Die Prüfung wird auf Italienisch sein. Keine andere Bedingungen sind zugegeben.