Program Overview

ECONOMIA DEGLI INTERMEDIARI FINANZIARI CLEA

Course Description

The course represents an introduction to the knowledge of the financial system, analyzing its functions, institutions, and instruments.

Objectives and Contents

Educational Objectives

This course aims to provide students with a basic understanding of the financial system and its ability to satisfy primary financial needs. It illustrates the structure and functions of the financial system, institutions, regulatory framework, and characteristics of instruments and services offered to families and businesses.

Detailed Educational Objectives and Learning Outcomes

By the end of the course, students will be able to:

• Describe the structure of the financial system, types of financial intermediaries, characteristics of financial instruments, and the functioning of financial markets.
• Measure the return and risk of financial instruments.
• Use knowledge to solve simple investment and financing problems.
• Calculate the outcome of operations in derivative instruments and evaluate risk coverage opportunities.
• Measure banks' exposure to credit, interest, market, liquidity, and leverage risks.
• Analyze the balance sheet of major financial intermediaries.
• Formulate autonomous judgments on economic and managerial equilibria of financial intermediaries.
• Communicate clearly and unambiguously using technical language.
• Identify and consult primary information sources and databases.

Prerequisites

Prerequisites for this course include exams in Business Economics and Financial Mathematics.

Teaching Methods

The course uses various methodologies, including:

• Frontal lessons
• Case analysis
• Business testimonials
• Individual or group in-depth studies based on teacher assignments
• Self-assessment tests and instant polls as participatory teaching tools

Program/Content

The course is divided into four parts:

1. Financial Structure of the Economy and Theory of Financial Intermediation
   • The financial system
   • Alternative technologies for fund transfer: banks and markets
   • Overview of financial instruments and markets
2. Financial Instruments
   • Debt securities
   • Equity securities
   • Credit instruments
   • Payment instruments
   • Derivative instruments
   • Insurance and pension instruments
3. Financial Markets
   • Organizational forms of markets
   • Structure and operation of regulated Italian markets
4. Financial Intermediaries
   • Banks
   • Securities brokerage companies
   • Insurance companies
   • Asset management companies

Texts/Bibliography

• Loris Nadotti, Claudio Porzio, and Daniele Previati, "Economia degli intermediari finanziari" MCGraw-Hill, 4th edition, 2022.
• Any variations or integrations will be communicated on Aulaweb.

Teachers and Commissions

• Teacher: Francesca Querci
• Commission:
  • Francesca Querci (President)
  • Barbara Alemanni
  • Marco Di Antonio
  • Laura Nieri

Lessons

• Start of Lessons: Second semester, according to the didactic calendar published on the Department of Economics website.
• Lesson Schedule: Available on the Aulaweb page of the course.

Exams

Exam Method

The exam is in written form and can be taken during the scheduled exam sessions.

Verification Method

The exam consists of an individual written test, including open-ended and multiple-choice questions, and brief numerical exercises. The test aims to verify the achievement of learning outcomes, including:

• Knowledge and understanding
• Ability to apply knowledge and understanding
• Autonomy of judgment
• Communicative abilities
• Learning capacity

Exam Calendar

Other Information

• The exam can be taken after registration on the online services (up to 4 days before the exam date).
• In case of a score below 16/30, it is not possible to register for the next exam session, due to the lack of time to fill significant gaps in preparation.