Ateneo - UPO

The course deals with topics related to standard banking and finance undergraduate courses, such as the structure and regulation of the financial system, the organization, structure, and performance of the financial markets and institutions, the typologies and contractual features of the main typologies of financial products and services. The emphasis of the course is both on the theoretical understanding of key concepts and on computational issues related to the different financial instruments.

-"Economia del Sistema Finanziario" (2021) by Elisa Bocchialini, Beatrice Ronchini, Lucia Poletti e Giulio Tagliavini.
- Strumenti finanziari" (2025) Create McGraw-Hill ISBN 9798219008047
- The instructors will provide other compulsory teaching material by the course official web page.
- Other suggested reading: Mishkin, Eakins, "Financial Markets and Institutions", 8th Edition, Pearson, 2015. The instructors are willing to indicate a study plan in English for Erasmus and free mover students.

The course awards 8 ECTS credits, with 60 hours of face-to-face lectures (DE)
1.Knowledge and understanding: the basic knowledge necessary to understand features and development of financial system and financial supervision, the role and the economics of financial intermediaries, the characteristics of financial needs and of financial instruments. 2. Applying knowledge and understanding: the ability to evaluate and selects the financial instruments best suited for specific financial needs (payment, investment, fundraising and risk management), by applying theoretical knowledge. 3. Making judgements: the ability to choose the right instruments to satisfy financial needs and to judge its risks. 4. Communication skills: the ability to use an appropriate technical language 5. Learning skills: the ability to analyze characteristics and risks of financial instruments and services for future personal or professional financial needs and to recognize and understand the changes in the financial systems.

Students must have passed the exam of Business Administration (mandatory prerequisite). Students are therefore expected to have basic knowledge of accounting, financial statements, and business organisation.

1. Knowledge and understanding: face-to-face lessons. 2. Applying knowledge and understanding: exercises. 3. Making judgements: face-to-face lessons. 4. Communication skills: during the course the lecturer applies and explains terms commonly used in the financial community. 5. Learning skills: after theoretical lectures the lecturer provides questions and exercises that are subsequently illustrated during the course.

Students with physical disabilities, Learning Disabilities or Special Education Needs can request specific services and tools by contacting the Staff Sviluppo e Coordinamento Carriere e Servizi alle Studentesse e agli Studenti (https://www.uniupo.it/en/services/services-students-physical-or-learning-disabilities). Once they have contacted the University Staff, students can refer to the instructor in charge of the course to define examination modalities and academic aspects.

A compulsory one-hour written exam, which may include exercises and numerical applications consistent with the course content. During the course, a midterm written exam covering the syllabus of the first part of the course and a final written exam covering the syllabus of the second part of the course are scheduled, for a total duration of one hour. 1. Knowledge and understanding: assessed through open-ended and closed-ended questions. 2. Applying knowledge and understanding: assessed through exercises. 3. Making judgements: assessed through open-ended questions. 4. Communication skills: assessed through open-ended questions. 5. Learning skills: assessed through quizzes during the course and midterm exams.The final grade is determined differently depending on attendance. For attending students, the two midterm written exams contribute equally to the final grade (50% each). For non-attending students, the grade is determined by the compulsory final written exam. A pass (18/30) is awarded when students demonstrate a basic understanding of the main pillars of the financial system and correctly apply fundamental concepts to the evaluation of financial instruments. Grades in the 18–20 range reflect a sufficient level of preparation with some applied uncertainty; 21–23 reflects a fair preparation with good command of basic concepts; 24–26 reflects satisfactory knowledge and good applied competence; 27–29 reflects in-depth knowledge and good independent judgement; a grade of 30 or 30 cum laude is reserved for students who demonstrate full command of all course topics, draw autonomous connections across the different modules, and argue critically and originally about the selection and evaluation of financial instruments.

- Course Introduction: teaching goals, contents, teaching methods, course evaluation.

- The financial system: pillars, actors, and functions.

- The financial instruments: technical and contractual features; risk-return profiles.

- The financial markets: major segments and distinctive features.

- Theory of financial intermediation: information asymmetries, transaction costs, agency costs.

- Banks and financial institutions: business models, products and services, performance measures.

- Direct and indirect finance: competitive and complementary relationship between capital markets and banks

- Regulation and supervision of financial markets and institutions

- Checking accounts, repurchase agreements and other bank liability contracts.

- Domestic and international payment instruments: from legal currency to virtual currency.

- Short and medium-long term lending facilities.

- Issuing securities in the primary. capital market: the role of investment banks.

- Trading securities in the secondary capital markets: the role of brokers, dealers, market makers.

- Government and corporate bonds: valuation, yield and rating.

- Mutual funds and principles of asset management strategies.

- Insurance companies and pension funds.

- Derivatives contracts and risk management strategies.

Gender dimension integration: during the course, attention will be paid to gender differences in access to financial instruments (gender finance gap) and to the role of gender in investment and saving behaviour.

KNOWLEDGE To be aware of the major pillars of the financial system (regulation, financial instruments, intermediaries and markets), their functions and operations.

COMPETENCES - To be able to select and evaluate on a comparative basis the financial tools best suited to meet a given financial need. - To be able to identify the financial institution or segment of capital markets to get access to achieve a given financial goal.
TRANSVERSAL SKILLS - To be able to interconnect among each other’s topics faced in different chapters of the course. - To be able to present a set of clear and structured arguments dealing with the selection and valuation of financial tools. - To know the technical terminology used by professionals and bank managers at both the domestic and the international level. - To be able to read, comprehend and comment technical material from books, financial journals or other source.

Minimum sufficiency level: students know the fundamental categories of financial instruments and intermediaries and can apply acquired knowledge in a basic way to the evaluation of straightforward instruments.
Advanced level: students can autonomously analyse complex financial situations, construct comparative arguments across instruments and intermediaries, and interpret developments in the financial system.