CODE 41592 ACADEMIC YEAR 2017/2018 CREDITS 9 cfu anno 1 ECONOMIA E ISTITUZIONI FINANZIARIE 8700 (LM-56) - SCIENTIFIC DISCIPLINARY SECTOR SECS-P/02 TEACHING LOCATION SEMESTER 2° Semester TEACHING MATERIALS AULAWEB OVERVIEW Course description The crouse analyzed the recents research developments in the field of money and financial markets AIMS AND CONTENT LEARNING OUTCOMES The course aims at providing analytical comprehension of the of the processes taking place in the money and financial markets of the economy, with particular regard to the transmission mechanism of monetary policy, the scientific debate on financial market efficiency, and some recent research fields. AIMS AND LEARNING OUTCOMES The main target is providing the students with suitable knowledge of the theoretical models analyzind the link between monetary policy and finacial markets, the theoretical debate on financial marker efficiency and with analytical models studying the financial markets on the basis of the behavioural finance literature. Ideally the studens shall acquire familiarity with the financial sector literature and with the quantitative analytical tools of this field ed essere in grado di utilizzare attivamente le conoscenze associate alle implicazioni di questi modelli The course is divided into three parts. Part I: Monetary Policy and Financial Markets Part II: Theoretical Debate on Financial Markets Efficinecy Part III: Models of behavioural finance TEACHING METHODS Lessons by the teacher. SYLLABUS/CONTENT Part I: Monetary Policy and Financial Markets Central Bank, inside money, outside money and payment systems. From the policy interest rate tto the markets interest rates. The Transmissiom Mechanism of Monetary Policy: the Money Channel and the Crediit Channel Part II: Theoretical Debate on Financial Markets Efficinecy The conventional approach and its foundations. Some alternative approaches and the main objections to the orthodox models. Firm's investments and financial markets. Part III: Analytical tools and models in Behavioural Finance Anomalies in financial behaviour Anomalies in the discount factor Asset pricing under prospect theory Speculative bubbles Equity premium puzzle RECOMMENDED READING/BIBLIOGRAPHY Bagliano, F-C, Marotta, (2010) G., Economia Monetaria, seconda edizione, Bologna, Il Mulino, 2010, chapters 1 (pp.19.-31), 5 (pp. 165-188 and (198-208) 10 (pp. 309-323). An alternative textbook in English may be comunicated to English Speaking students upon request at the beginning of the course. . Forbes, W., (2009), “Behavioural Finance”, Chichester, UK, John Wiley & sons, capp. 2,3 (except section 3.2.2 and the appendix) ,5,8 (excepting section 8.3.1),13 (excepting sections 13.1, 13.2, 13.2.1, 13.2.2). Notes edited by the teacher (that will be available AND downloadable from “AulaWeb”): “The debate on market efficiency”. Notes edited by the teacher (that will be available AND downloadable from “AulaWeb”): "Testing exchange rate efficiency” Notes edited by the teacher (that will be available AND downloadable from “AulaWeb”): “The credit channel”. Notes edited by the teacher (that will be available AND downloadable from “AulaWeb”): “Modelling firm’s investment and financial structure in an intertemporal framework”. TEACHERS AND EXAM BOARD MARCO MAZZOLI Ricevimento: Thursday 12,30-14,30; the office hours only apply during the lesson periods of the Ist and 2nd Semesters. Out of the Ist and 2nd semesters the student may contact the teacher by e-mail to set an appointment Exam Board MARCO MAZZOLI (President) AMEDEO ANTONIO AMATO ANNA BOTTASSO GABRIELE CARDULLO MARCO GUERRAZZI MARCO ROBERTO TRONZANO LESSONS LESSONS START Second Semester Class schedule MONEY AND FINANCIAL MARKETS ECONOMICS EXAMS EXAM DESCRIPTION Written Exam ASSESSMENT METHODS Open questions on the theoretical models analyzed in the course; implications of these models No restrictions in repeating the exam, in case of failure. Exam schedule Data appello Orario Luogo Degree type Note 15/02/2018 10:30 GENOVA Scritto 04/06/2018 10:30 GENOVA Scritto 18/06/2018 10:30 GENOVA Scritto 12/07/2018 10:30 GENOVA Scritto 27/07/2018 10:30 GENOVA Scritto 13/09/2018 10:30 GENOVA Scritto FURTHER INFORMATION Attendance Not compulsory
