CODE 84088 ACADEMIC YEAR 2022/2023 CREDITS 6 cfu anno 2 AMMINISTRAZIONE, FINANZA E CONTROLLO 8706 (LM-77) - GENOVA SCIENTIFIC DISCIPLINARY SECTOR SECS-P/02 TEACHING LOCATION GENOVA SEMESTER 2° Semester MODULES Questo insegnamento è un modulo di: ECONOMICS OF FINANCIAL MARKETS WITH LANGUAGE ADVANCE KNOWLEDGE TEACHING MATERIALS AULAWEB OVERVIEW Course description The aim of the course is providing a suitable knowledge on the financial sector of the economy, with particular focus on the debate on markets effiiciency, on the transmission mechanism of monetary policy. Attendance, although not mandatory, is strongly advised. AIMS AND CONTENT LEARNING OUTCOMES The course of Economics of Financial Markets has the specific aim of providing both theoretical and technical knowledge on the working of financial markets, with specific focus on the most recent theories and the debate among the different streams of thought. Specific attention will be dedicated to the impact of monetary policies on financial markets, to the creation and propagation of expectations and to the impact that they have on the yields of financial assets and their time structure. AIMS AND LEARNING OUTCOMES The main targets of the course are the following: Understanding the working of financial markets Understanding the effects of monetary policy on the financial markets PREREQUISITES Undergraduate introductory courses of Macroeconomics and Microeconomics. TEACHING METHODS Lessons by the teacher. Seminars on a few specific topics. A detailed description of the course is available on "AulaWeb". SYLLABUS/CONTENT Part I: The 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 II: 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 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. . 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”: "Mercati e strumenti finanziari: un’introduzione" Notes edited by the teacher (that will be available AND downloadable from “AulaWeb”: "CAPM and APT" Bernanke, B. Blinder, A. (1988), "Credit, Money and Aggregate Demand", American Economic Review, vol. 78, no. 2, Papers and Proceedings of the One-Hundredth Annual Meeting of the American Economic Association (May 1988), pp. 435-439. The students may obtain the pdf file of this paper by downloading from the terminals of the Library of the Department terminals. The students may also download from the AulaWeb site of the course, for this specific point, the lecture notes “Il canale creditizio” TEACHERS AND EXAM BOARD MARCO MAZZOLI Ricevimento: Office hours will be published on the "AulaWeb" site of the course as soon as the administration offices have prepared the lessons timetable. The office hours only apply during the lessons periods of the Ist and 2nd Semesters. Out of the Ist and 2nd semesters the students may contact the teacher by e-mail to set an appointment Exam Board SUSAN MARIE CAMPBELL (President) MARCO MAZZOLI (President) LUCA BELTRAMETTI ANNA BOTTASSO GABRIELE CARDULLO SIMONE LOMBARDINI ELENA SEGHEZZA LESSONS LESSONS START II Semester Class schedule ECONOMICS OF FINANCIAL MARKETS EXAMS EXAM DESCRIPTION Written Exam. ASSESSMENT METHODS The final exam consosts of a written exam with open questions on the topics of the course. There are no restrictions in repeting the exam, in case of failure. Exam schedule Data appello Orario Luogo Degree type Note 09/01/2023 11:00 GENOVA Scritto 23/01/2023 11:00 GENOVA Scritto 16/02/2023 11:00 GENOVA Scritto 08/05/2023 11:00 GENOVA Compitino 08/05/2023 11:00 GENOVA Compitino 05/06/2023 11:00 GENOVA Scritto 19/06/2023 11:00 GENOVA Scritto 14/07/2023 11:00 GENOVA Scritto 14/09/2023 11:00 GENOVA Scritto FURTHER INFORMATION The concepts taught in the module require a basic knowledge provided by undergraduate courses in Microeconomics and Macroeconomics.
