FINANCIAL MARKETS AND INSTITUTIONS

CODE	66704
ACADEMIC YEAR	2025/2026
CREDITS	9 cfu anno 2 ECONOMIA AZIENDALE 8697 (L-18) - GENOVA
SCIENTIFIC DISCIPLINARY SECTOR	SECS-P/11
LANGUAGE	Italian
TEACHING LOCATION	GENOVA
SEMESTER	2° Semester
SECTIONING	Questo insegnamento è diviso nelle seguenti frazioni: A B
PREREQUISITES	Propedeuticità in ingresso Per sostenere l'esame di questo insegnamento è necessario aver sostenuto i seguenti esami: Business Administration 8697 (coorte 2024/2025) BUSINESS ADMINISTRATION 41125 A BUSINESS ADMINISTRATION 41125 B BUSINESS ADMINISTRATION 41125 C FINANCIAL MATHEMATICS 60065 A FINANCIAL MATHEMATICS 60065 B
TEACHING MATERIALS	AULAWEB

OVERVIEW

The teaching unit provides an introduction to the financial system. In particular, it analyses the
functions of the financial system, the different institutions—markets and intermediaries—that
compose it, and the instruments used.

AIMS AND CONTENT

LEARNING OUTCOMES

The course aims to provide students with a basic knowledge of the financial system. More specifically, the course covers topics such as the functions performed by the financial sector, the features of financial instruments and the main characteristics of financial institutions and markets. Students will understand how the financial sector meets the financial needs of households and businesses, such as investing, financing, making payments and/or managing risks.

AIMS AND LEARNING OUTCOMES

- Know the structure of the financial system, the main types of financial intermediaries, the
characteristics of the main financial instruments, the functioning of financial markets, the
supervisory architecture of the financial system in Europe and Italy, and the strategy and
operational framework of European monetary policy, at the end of the teaching unit and
based on lectures and business testimonials.
- Be able to measure the return and risk of the main financial instruments, applying the
acquired knowledge to exercises and cases proposed during lectures and in exams.
- Be able to use the acquired knowledge to solve simple problems involving investment in
financial assets and project financing, in simulated or real contexts presented in class or
during exams.
- Be able to measure the outcome of a transaction in derivative instruments and assess the
appropriateness of risk hedging, through exercises and practical cases.
- Be able to measure banks' exposure to credit, interest rate, market, liquidity, and leverage
risks, using data and cases provided during the course.
- Be able to analyse the financial statements of the main financial intermediaries by
calculating appropriate ratios, on data provided in class or in exams.

Learning outcomes according to the Dublin descriptors:
1. Knowledge and understanding: acquire knowledge and understanding of the structure,
functioning, and functions of the financial system, through lectures, business testimonials, and
data analysis.
2. Applying knowledge and understanding: apply the acquired knowledge to the analysis of
financial needs and the evaluation of solutions offered by the financial system, through
exercises and practical cases.
3. Making judgements: formulate independent judgements on the economic and managerial
balance of financial intermediaries, based on data and cases discussed in class.
4. Communication skills: use the technical language of the discipline to communicate with
specialists and non-specialists, also through the use of information sources and databases.
5. Learning skills: develop autonomous learning skills to further explore the main topics of the
discipline, using bibliographic sources and updated data.

PREREQUISITES

It is mandatory to have passed the exams of Business Administration and Financial
Mathematics before attending this teaching unit.

TEACHING METHODS

The teaching unit uses different methods, including lectures, case studies, business
testimonials, individual and/or group assignments based on instructions provided by the
instructor on Aulaweb, self-assessment tests, and instant polls as participatory teaching tools.
Support is available for students with learning disabilities or special needs, according to
University procedures. Attendance is not compulsory.

SYLLABUS/CONTENT

Part I: FINANCIAL STRUCTURE OF THE ECONOMY AND THEORY OF FINANCIAL
INTERMEDIATION
- The financial system (overview); alternative technologies for fund transfer: banks and
markets
- Overview of financial instruments and markets
- Concept of the financial system
- The objective function of investors and fund borrowers
- Economic functions performed by financial intermediaries
Part II: FINANCIAL INSTRUMENTS
- Debt securities
- Equity securities
- Derivative instruments
- Insurance and pension instruments
- Payment instruments
Part III: FINANCIAL MARKETS
- Organisational forms of markets
- Structure and functioning of Italian regulated markets
Part IV: FINANCIAL INTERMEDIARIES (activities, balance sheet, risks, supervision)
- Banks
- Investment firms
- Insurance companies
- Asset management companies

TEACHERS AND EXAM BOARD

LAURA NIERI

Ricevimento: Office hours are published on Aulaweb course page at the beginning of the course For other hours please contact the teacher via email. Always check Aulaweb news for update and changes

LESSONS

LESSONS START

Lessons start in the second semester. The detailed schedule is available on the Department website

Class schedule

FINANCIAL MARKETS AND INSTITUTIONS B

EXAMS

EXAM DESCRIPTION

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

ASSESSMENT METHODS

The assignment includes multiple-choice questions; open questions; exercises and problems.

FURTHER INFORMATION

There are no limitations on the number of exam attempts per session. However, if the grade
obtained in an exam is below 16/30, it will not be possible to retake the exam in the next
session unless it is in a different exam period. For further information not included in this
course description, please contact the instructor.