This course aims at providing participants with a general understanding of the different functions performed by financial markets and intermediaries within the financial system. The course also aims at describing the stock market, bond markets, derivatives markets and forex markets and models of currency crises.

Knowledge and understanding: The student - by participating in the lectures and practical activities of the course - will have developed the ability to understand the links between the value generated for the customer, the breadth and quality of financial market relations. At the end of the course there will be a written test, including multiple choices and open questions. Applying knowledge and understanding: The student - acquiring the correct tools and method - will be able to interpret, apply and present the reference interpretative models, but also develop practical projects in the field of finance. At the end of the course there will be a written test, including multiple choices open questions and practical exercises Making judgements: The student, through the use of the methodologies acquired during 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 legal issues at hand with terminological accuracy. Through the various activities that will take place during the course – lessons with discussion, moot courts, workshops – 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 technical-economic knowledge acquired during the course will allow the student to autonomously understand and interpret finance's techniques and adapt them to the specific reference context. The student will develop a solid knowledge of the fundamental aspects of the subject that will allow him to continue to deepen the topics addressed independently and to undertake the various post-graduate professional training courses.

1. Overview of financial markets 2. The foreign exchange markets 3. International Parity Conditions 4. Monetary Policy and Exchange rates 5. Exchange rate crises 6. Stock market and bond markets 7. Central banking 8. Fundamentals of banking 9. Financial instruments: derivatives

F.S. Mishkin and S.G. Eakins, Financial Markets and Institutions, 9/ E (global edition), Pearson G. Piersanti, The Macroeconomic Theory of Exchange Rate Crises, 1/E, Oxford University Press (2012)

Lectures

The student will be evaluated on the basis of the individual scores achieved on: • Intermediate exam (individual) 40% and final exam (individual) 60% through which to assess the knowledge and understanding of teaching and the autonomy of judgment. • Other activities (eg: participation in class, seminars, practical exercises) through which to understand students' independence of judgment other skills useful for achieving the training objective. The written test consists of a mix of multiple choice theoretical questions and exercises, with which the student have to demonstrate knowledge of the theoretical notions of teaching, knowing how to apply them in practical cases demonstrating that he has achieved the method of study and the learning ability necessary to continue the study of the subject autonomously. The failure to achieve at least the score of 18/30 will result in failure to pass the exam. Correct answers to all multiple-choice questions, an excellent level of preparation in all open questions and the correct execution of all the exercises will result in a score of 30/30 cum laude.

Instructor's approval of final paper's topic