FINANCIAL MARKETS AND INSTITUTIONS

Degree course: 
Corso di First cycle degree in ECONOMICS AND MANAGEMENT
Academic year when starting the degree: 
2016/2017
Year: 
3
Academic year in which the course will be held: 
2018/2019
Course type: 
Compulsory subjects, characteristic of the class
Language: 
Italian
Credits: 
9
Period: 
Second semester
Standard lectures hours: 
60
Detail of lecture’s hours: 
Lesson (60 hours)
Requirements: 

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Final Examination: 
Orale

Final written test, which lasts an hour and a half, divided in 5 questions.
For the purpose of passing the exam is necessary to achieve a rating of at least 18 points over 30.

Assessment: 
Voto Finale

The course gives basic elements about the structure and the functioning of markets and financial intermediaries. Specific arguments are tasks and structural and operational tools of banking, insurance and markets intermediaries; basic elements for financial instruments evaluation. The course gives also basic information about financial instruments, banking and insurance contracts and financial market operations. Special focus is on financial needs of corporate entities.
The teaching language is Italian.

Part I) THE FINANCIAL SYSTEM: tasks, structure, intermediaries, markets and regulation

1. Structure and tasks of financial markets and intermediaries
1.1. Contracts, intermediaries and markets: basic definitions
1.2. Financial accounts of the economy
1.3. Typologies of financial intermediaries
1.4. Basic tasks of the financial system
1.5. Intermediation function
1.6. Credit function
1.7. Managing risk in the financial system
1.8. Financial intermediaries as a system. Macroeconomic tools of the financial system
2. Banks and banking system.
2.1 The production process in a bank and its basic balance sheet structure
2.2 Banking models: commercial bank, specialized bank, banking and financial groups
2.3 The banking system in Italy and its evolution
3. Insurance intermediaries and pension funds
3.1 The production process in an insurance company and its basic balance sheet structure
3.2 The Insurance industry in Italy and its evolution
3.3 Pension fund
4. Securities industry and financial markets
4.1 The relationship between markets and intermediaries
4.2 Securities and derivatives markets in Italy
4.3 Investment societies , dealers and brokers
4.4 Mutual funds
5..The financial system regulation
5.1 Why regulate financial markets and intermediaries
5.2 Supervision and regulation
5.3 Main objectives and tools for regulation
5.4 Transparency in financial contracts
PARTE II- Financial instruments
6. Basic evaluation techniques of financial instruments
6.1.Money value in time
6.2 Capitalization and net present value
6.3 Financial risk
6.4 Insurance risk
7. Financial needs and solutions for families
7.1 Payment services
7.2 Investment services
7.3 Investment management services
7.4 Financing real investments and consumption
8. Financial needs and solutions for firms
8.1 Evaluation of financial capabilities of firms
8.2 Payments and liquidity services
8.3 Commercial credit financing
8.4 Investment financing
8.5. Risk capital
8.6.Debts, markets and financial tools for small business

Recommended reading list (Bibliography)

Testi obbligatori
NADOTTI L. – PORZIO C. – PREVIATI D., Economia degli intermediari finanziari, McGraw-Hill, Milano, 3rd ed. 2013

Testi consigliati per l’approfondimento

- ANIA, L’assicurazione italiana nel 2010/2011, Roma
- BANCA CENTRALE EUROPEA, Bollettino mensile
- BANCA D’ITALIA, Relazione Annuale, Roma
- BANCA D’ITALIA, “Bollettino Economico”, numeri vari
- CONSOB, Relazione Annuale, Roma
- BONGINI P. – DI BATTISTA M.L. – NIERI L. – PATARNELLO A., Il sistema finanziario, Il Mulino, Bologna, 2004
- FORESTIERI G. – MOTTURA F., Gli intermediari finanziari, Egea, Milano, 2009
- MUNARI L., Strumenti finanziari e creditizi, McGraw Hill, Milano, 2011

Siti consigliati

- ABI, www.abi.it
- ASSOCIAZIONE NAZIONALE FRA LE IMPRESE ASSICURATRICI, www.ania.it
- BANCA CENTRALE EUROPEA, www.ecb.int
- BANCA DEI REGOLAMENTI INTERNAZIONALI, www.bis.org
- BANCA D’ITALIA, www.bancaditalia.it
- CONSOB, www.consob.it
- COVIP, www.covip.it
- IVASS, www.ivass.it

Convenzionale

Teaching lessons for a total of 60 hours (30 h classroom + 60 h on line)

The lecturer meets the students according to a detailed office hour; dates and other details are published time by time
Appelli d’esame
https://uninsubria.esse3.cineca.it time on Professor’s webpage