Portale di Ateneo - En.Unibs.it

Please check this course’s page on Carmine Trecroci’s website (https://sites.google.com/site/carminetrecroci/) for further details, news and materials.

Course description
This course examines, from a data- and evidence-based perspective, the interactions between today’s money, financial markets and financial institutions. We examine: (1) the roles of money and the financial system, (2) the core principles of financial systems, (3) how financial institutions help to overcome financial frictions, but may lead to financial crisis and bank runs, (4) how monetary and macro-prudential policy manage inflation and can help to mitigate financial crises, (5) the international financial architecture and the impact of technology on the financial sector.

Structure of the course
1. An overview of the financial system
2. The roles of money and the financial system
3. Bonds and money markets
4. The risk and term structure of interest rates
5. Pricing of stocks and derivatives
6. Financial frictions
7. Credit, financial intermediation and the central bank
8. Contemporary monetary economics
9. Money, liquidity, leverage and the financial cycle
10. Financial crises, systemic risk, financial regulation
11. Monetary and macro-prudential policy
12. Exchange rates, capital flows and the international financial architecture
13. The European Monetary Union
14. Technology and the roles of money

Textbooks
There is no ideal textbook for this course. The study material for each topic is detailed below. For background reading you might want to pick one of the following optional textbooks:
• Frederic S. Mishkin, (2018) "The Economics of Money, Banking, and Financial Markets”, 12th Edition, Pearson.
• Stephen G. Cecchetti and Kermit L. Schoenholtz, (2017), “Money, Banking and Financial Markets”, 5th Edition, McGraw Hill.

Contents in detail and study materials
Please check the course page on Carmine Trecroci’s website: https://sites.google.com/site/carminetrecroci/