Student guide Faculty of Economics A.Y. 2008/09

Economics of Financial Intermediaries
Aim of the course
The course presents the economic principles, operational instruments and management techniques adopted by financial intermediaries, and in particular by banks, for conducting their activities.
At the end of the course students will therefore be able to formulate their own judgement of the overall structure of the financial system, as well as of the opportunities and risks entailed by the management of intermediaries. These opportunities and risks are analysed from the perspective of both those who take on management responsibilities within these institutions, and those who turn to these institutions in the capacity of clients for services, financing or investment opportunities.
- The financial system: a comprehensive view.
- Banks (depositary institutions) and non bank credit intermediaries.
- Securities markets.
- Insurance.
- Banks' capital collection and loan issuing activities.
- Bank collection: deposits (and other personalized forms), issue of securities.
- Short term credit: consumer credit and financing of circulating capital.
- Long-term credit: mortgages and leasing.
- Off-balance sheet financing: endorsement credit and loan commitments.
- Financing/investment operations centred on securities.
- Liquidity management: inter-bank and refinancing operations.
- The payments system.
- Payment instruments and inter-bank regulation systems.
- The currency market and commercial operations with foreign countries. 
- Securities markets.
- Organisation and structure.
- Access services to securities markets: management, negotiation, placing.
- The insurance system (overview).
For students who attend class, the assessment method will be communicated at the start of the course.
Distance students will sit a written exam lasting approximately 20 minutes, followed by an oral exam (both on the same day).
Reading list
Fabrizi P.L., 2003, Gli strumenti finanziari, EGEA
Additional reading materials will be set by the lecturer at the start of the course.