This course aims to give participants a general understanding of the functions performed by financial markets and intermediaries within the financial system. More specifically, it aims to describe the core markets—the stock market, bond markets, derivatives markets, and FX markets—and explain the functioning of the main financial institutions. Additionally, the course will contain elements of risk management, financial regulation, and monetary policy.

Knowledge and understanding By participating in the lectures and practical activities of the course, the student will gain knowledge about the core financial markets and institutions. The student will understand their key aspects and functioning, as well as the reasons financial fragility arises. Applying knowledge and understanding The student will be able to apply the tools and methods acquired in the course to interpret current events in financial markets. With the knowledge acquired in the course, the student will be able to assess the origins of risks in financial markets and the risk exposure of the main financial institutions. Making judgements The student, applying the methodologies conveyed in the course, will have acquired problem analysis skills and the ability to identify the information necessary for their solution. Specifically, critical thinking, problem-solving, self-management, teamwork, relationship, and communication skills will be adequately developed, which enhance and make the disciplinary skills more usable. Communication skills At the end of the course, the student will be able to use the business and technical vocabulary of finance, addressing the economic issues at hand with terminological accuracy. Through the various activities that will take place during the course – lessons with discussion, group assignments – the student will be able to put these communication skills into practice in various contexts by adapting the terms used to the interlocutor in the specific case, thus gaining advanced rhetorical skills necessary for his/her professional career. Learning skills The course will equip students with technical-economic knowledge that will enable them to independently understand and interpret finance techniques, adapting them to specific contexts. This solid foundation in the subject matter will empower students to delve deeper into topics related to financial markets and pursue further professional training.

The course will focus on the following main topics: 1. Interest rates 2. The Stock Market 3. The Bond Market 4. The Foreign Exchange Market 5. The Functioning of Financial Institutions 6. Financial Regulation and Monetary Policy 7. Risk Management 8. Derivatives

F.S. Mishkin and S.G. Eakins, Financial Markets and Institutions, 9/ E (global edition), Pearson. Further material will be provided in class.

Lectures and home exercises

The student will be evaluated based on the individual scores achieved on A midterm exam (individual) 30 % and a final exam (individual) 40 % to assess the student's knowledge and understanding of the material and the autonomy of judgment. Three assignments (groups) of 10 % each (30 % in total) to understand students’ ability to cooperate and apply the tools and methods acquired during the lectures to larger problem sets.

Interview with lecturer