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ECONOMICS OF FINANCIAL MARKETS

CODE 84088
ACADEMIC YEAR 2017/2018
CREDITS 9 credits during the 2nd year of 8706 Accounting and Finance (LM-77) GENOVA
SCIENTIFIC DISCIPLINARY SECTOR SECS-P/02
TEACHING LOCATION GENOVA (Accounting and Finance)
SEMESTER 2° Semester
TEACHING MATERIALS AULAWEB

OVERVIEW

Course description

The aimi 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 moetary policy and on some recent research fields on behavioural finance.

Attendance, although not mandatory, is strongly advised.

AIMS AND CONTENT

LEARNING OUTCOMES

The course of Economics of Financial Markets is specifically focused on the link between the macroeconomic context and its financial implications on the firm’s decision.

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
  • Understanding the working of financial markets in the light of Behaviural Finance and other recent alternative theoretical approaches

TEACHING METHODS

Lessons by the teacher.

SYLLABUS/CONTENT

Part I: The Debate on Financial Markets Efficinecy 

  1. The conventional approach and its foundations. 
  2. Some alternative approaches and the main objections to the orthodox models. 
  3. Firm's investments and financial markets.

Part II:  Monetary Policy and Financial Markets 

  1. Central Bank, inside money, outside money and payment systems. 
  2. From the policy interest rate tto the markets interest rates. 
  3. The Transmissiom Mechanism of Monetary Policy: the Money Channel and the Crediit Channel    

Part III: Introduction to Behavioural Finance

  1. Anomalies in financial behaviour
  2. Anomalies in the discount factor
  3. Speculative bubbles
  4. Equity premium puzzle
  5. Incorporation

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) ,5,13 (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”): "CAPM and APT"
  • Notes edited by the teacher (that will be available AND downloadable from “AulaWeb”): “The credit channel”.

TEACHERS AND EXAM BOARD

Exam Board

MARCO MAZZOLI (President)

LUCA BELTRAMETTI

GABRIELE CARDULLO

MAURIZIO CONTI

ELENA SEGHEZZA

LESSONS

TEACHING METHODS

Lessons by the teacher.

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

Exam schedule

Date Time Location Type Notes
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