Provide the basic knowledge of the mechanisms of financial intermediation and the functioning of financial markets; Pass on skills relating to the management conditions of financial intermediaries, with particular reference to economic and risk aspects; Learn the technical, legal, financial and operational characteristics of financial instruments traded by intermediaries

Knowledge and understanding: the student will have acquired elementary knowledge of intermediation mechanisms, instruments, markets and financial intermediaries; will understand the meaning of financial instrument prices and the reasons for their variations; will be able to recognise the reasons for the central bank's monetary policy actions and predict the desired effects on financial and real markets; will possess the general framework for the regulation of markets and financial intermediaries. Ability to apply knowledge and understanding: the student will be able to assess financial instruments, calculate ex post and expected returns; will be able to capture the main risk factors associated with financial instruments and calculate the impact of these risks on expected returns; will be able to design simple investment and risk management structures. Autonomy of judgement: the student will have developed the ability to critically assess the investment and financing opportunities offered by markets and financial intermediaries; will be able to assess the presence of possible mispricing situations on the markets; dynamically understand price trends; express personal opinions on the monetary policy choices of the central bank. Communicative skills: the student will have developed the ability to understand the language, even slang, of operators and media that deal with finance; he will be able to talk to professionals in the sector to comment on market trends and will be able to explain to non-specialists the most relevant issues and market trends, for example, expressing opinions on the investment of savings and the acquisition of resources for a simple company. Learning skills: the student will be able to keep constantly updated on the dynamics of financial markets, on the evolution of innovations and new techniques of intermediation of financial resources and will be able to continuously enrich his or her knowledge on the subject by consulting the appropriate sources of specialist information. Learning skills: the student will be able to keep constantly updated on the dynamics of financial markets, on the evolution of innovations and new techniques of intermediation of financial resources and will be able to continuously enrich his or her knowledge on the subject by consulting the appropriate sources of specialist information.

Analysis of the characteristics and functioning of financial markets Theory of intermediation and functions of financial intermediaries Financial intermediaries: management, risks and regulation Analysis of the characteristics of financial instruments traded on financial markets

Economia degli Intermediari finanziari Saunders et al. V edition Mc Graw Hill or Istituzioni e mercati Finanziari (9 edizione) Miskins Eakins Beccalli ed Pearson Slides and exercises presented in class and signalled by the professor as part of the final exam

The teaching activity is articulated as follows: Frontal lectures: aimed at providing basic knowledge, and discussing with students the program's topics. Exercises: aimed at the improvement of application skills and problem solving. Seminars: analysts, experts, representatives of the credit and financial intermediation sector are invited to enrich the course content by bringing their professional experience to the classroom. Group project: students are involved in group project presentation activities to develop the skills of research, coordination, adoption of technical language and public speaking. Individual study: students integrate the knowledge and skills acquired in the classroom with an individual study of the textbook and reading of in-depth documents indicated by the teacher to promote independent learning skills.

For attending students, the final grade is made up of : a) The first assessment (50%) (attendance >70%) b) The final assessment (50%) (attendance >70%) Attending students are those who attend lectures. (attendance >70%) The written test will consist of exercises carried out or assigned during classes, multiple-choice questions, and short open-ended questions. The test subject will be announced during the course. Plus, any other distributed reference material during the year, and indicated as "study material". For non-attending students: Written exam (100%) Non-attending students cannot systematically follow the course (regardless of the reason, i.e., participation in internships or completion of the Erasmus period does not allow attendance). Non-attenders are also those who do not participate or withdraw from group work. In September, all students in debt are considered non-attending. Non-attending students will be assessed only on the final written exam, with the same structure, but the number of question exercises will be 100% of the test value. The test will cover all the chapters of the textbook.

There are no formal barriers. The assignment of the final thesis is made by the professor after the approval of the topic, the bibliographic research, and a brief memo illustrating the thesis project.