FINANCIAL MARKETS AND INSTITUTIONS

Degree course: 
Corso di First cycle degree in ECONOMICS AND MANAGEMENT
Academyc year when starting the degree: 
2015/2016
Year: 
2
Academyc year when helding the course: 
2016/2017
Course type: 
Compulsory subjects, characteristic of the class
Credits: 
9
Period: 
First Semester
Standard lectures hours: 
60
Detail of lecture’s hours: 
Lesson (60 hours)
Requirements: 

Attending the course is easier for students with basic knowledge of micro and macro-economics, financial mathematic, private and commercial law and management.

Final Examination: 
Orale
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 student, after attending the course, will be able to describe and analize:
-Different tasks of financial markets and intermediaries and links among them;
-Main items distinguishing financial contracts (banking, insurance and pensions, market instruments) and their respondence to needs tipical of families and firms;
-Operational caratheristic and revenues and costs for banks, insurance compianies and other financial intermediaries (società di gestione del risparmio, intermediari creditizi specializzati, società mercato);
-Tasks and objectives of regulation and supervision on financial intermediaries and markets.

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.Tipologies 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.
2.1The production process in a bank and its basic balance sheet structure
2.2Banking models: commercial bank, specialized bank, banking and financial groups
2.3The banking system in Italy and its evolution
3.Insurance intermediaries and pension funds
3.1The production process in an insurance company and its basic balance sheet structure
3.2The Insurance industry in Italy and its evolution
3.3Pension funds
4.Securities industry and financial markets
4.1The relationship between markets and intermediaries
4.2Securities and derivatives markets in Italy
4.3Investment societies , dealers and brokers
4.4Mutual funds
5.The financial system regulation
5.1Why are financial markets and intermediaries regulated?
5.2Supervision and regulation
5.3Main objectives and tools for regulation
5.4Transparency in financial contracts

PART II – FINANCIAL INSTRUMENTS
6. Basic evaluation techniques of financial instruments
6.1Money value in time
6.2Capitalization and net present value
6.3Financial risk
6.4Insurance risk
7. Financial needs and solutions for families
7.1Payment services
7.2Investment services
7.3Investment management services
7.4Insurance policies and pension plans
7.5Financing real investments and consumption
8. Financial needs and solutions for firms
8.1Evaluation of financial capabilities of firms
8.2Payments and liquidity services
8.3Commercial credit financing
8.4Investment financing
8.5Risk capital
8.6Debts, markets and financial tools for small business

Mandatory text: Gualtieri P. Teoria dell’intermediazione finanziaria, 3rd edition, EGEA, Milano, 2016 [it]. The text is fully e-book. For the purchase of the book, a specific notice will be provided at the beginning of the lessons.
The teacher can suggest (if requested) an English book.
Learning documents (slides used for support during lectures) will be published in e-learning web page referring to the course. Slides are published weekly before each lecture.
THE LECTURER HASN’T DELIVERED NOR AUTHORIZED NOTES OR REMARKS FROM LECTURES.