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OEBU 2020A - Microfinance

Type d'enseignement : Elective

Semester : Spring 2017-2018

Number of hours : 24

Language of tuition : English



Course Description

This course is aimed at understanding the principles and the role of microfinance in developing countries. The topics covered will include financial exclusion, informal finance, microfinance products, financial analysis of the microfinance institutions, funding of microfinance institution and methodologies of assessment. This course will take an applied approach to introduce the main actors of the microfinance sector such as microentrepreneurs, MFI, regulators, donors and investors. The question of social performance and impact study will be analysed in order to identify the best practices and discuss polemic topics. At the end of the course the students should have a sound knowledge of the main challenges of the financial inclusion.


  • BENSOUSSAN, Pauline (Chargée de mission, Coordinatrice des programmes du Collège Universitaire de Paris, Sciences Po)
  • DUQUET, Sebastien (Managing director, OXUS Group)

Pedagogical format

Lecturing and case studies.

Course validation

The evaluation of the course will be based on both a take home exam (40%), an oral exam (50%), and class participation (10%).


12 seminars of two hours each (24 hours). Credits: 4.

Required reading

  • Economics of microfinance, Beatriz Armendáriz de Aghion, Jonathan Morduch. Available in electronic version :
  • Portefolio of the poor, Daryl Collins, Jonathan Morduch, Stuart Rutherford & Orlanda Ruthven. 1st chapter available in electronic version :
  • Repenser la pauvreté, Esther Duflo, Abhijit V. Banerjee. Website :
  • Microfinance Handbook: An Institutional and Financial Perspective, Joanna Ledgerwood, 2009, Word bank

Additional required reading

Rating financiers et sociaux des IMF, Planet Rating