B021371 - FINANCIAL MARKETS AND INSTITUTIONS

English

The course has the following objectives:
- to strengthen knowledge of the financial system, in order to understand its functions, components and evolutionary dynamics, specifically in relation to the demand needs of firms;
- to increase the skills associated with understanding the firms financing strategies, distinguishing between market funding and bank debt;
- to provide an overview of financial markets, their functions and operating logics;
- to deepen the Fintech sector and in particular the impact of digitalization on firm’s services and instruments.

The course aims to provide students with advanced knowledge of financial markets and institutions. In particular, the interpretation key is the markets and intermediary’s evolution in a logic of continuous innovation., supporting the real economy. The financial decisions of entrepreneurial firms at various phases of their life cycle will be examined, and the advantages and disadvantages of various sources of financing will be compared. An overview of the Fintech era will be provided

Suggested: fundamentals of financial intermediaries.

The course is made up of lectures and resolutions of case studies (for attending students). Furthermore, seminars and project works are planned.

For students who attend lessons: written exam (open questions and multiple choices questions) + project work.
For those who do not attend lessons: written exam with multiple choices questions and open questions about all the topics of the course in around 60 minutes.

The course is structured in three main parts:
- The first part focuses on the financial system in general, analyzing the role of Central Banks and the monetary policy in affecting the financial markets, and then tackle the issues related to the theory of financial intermediation and market efficiency.
- The second part of the course focuses on the firms funding strategies, distinguishing between market funding and bank debt. After analysing the business life cycle, the course looks in depth at the financial markets that support firm’s activity (how they work and what they are used for). The analysis includes an examination of money, stock and bond markets, as well as insurance and pension markets.
- The last part of the course focuses on Fintech, namely the impact of digitalisation on enterprise services and instruments.

Bocchialini E., Ielasi F., (2022), Financial Markets and Institutions, CREATE, McGrawHill, PART 1, ISBN: 9781307766387.
Other reading material will be indicated by the teacher during the course and on Moodle.

Goal no. 4, no. 8 and no. 9.

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