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OEUR 2910 - Financial markets : instruments, actors and regulators

Type d'enseignement : Elective

Semester : Spring 2017-2018

Number of hours : 24

Language of tuition : English

Pre-requisite

Students are expected to be familiar with the institutions of the European Union. Basic knowledge of economics (supply, demand, role of prices) can help to improve learning results in class, but are by no means required.

Course Description

The class "Financial Markets: Instruments, Actors and Regulators" provides a bird's eye perspective on current developments in financial markets, financial innovation, related policies and associated feed-backs to the real economy. The class discusses political, institutional and legal trends and consequences generated by recent events in the financial system. To provide a solid base for the discussion of those topics, the class starts with an introduction into financial markets, financial instruments and techniques to design financial portfolios as well as individual financial products. Building on this knowledge the class moves into the discussion of political and regulatory reactions to the recent financial crisis, comprising already implemented ones as well as currently discussed measures. By shedding some light on the regulatory reforms driven by contemporaneous problems and developments in financial markets, the class supports students in developing an understanding of the ongoing overhaul of the institutional and regulatory settings for the financial system in Europe.

Teachers

LOIACANO, Giuseppe (Economist to the European Securities and Markets Authority (ESMA))

Pedagogical format

Course website/email: TBA. This is where you will be provided with the syllabus, class handout and other relevant materials.

Course validation

Students will be graded according to the ECTS system used at Sciences-Po. The final exam (60 minutes) will comprise multiple choice questions and/or case studies. Exams will not be graded at the curve, but according to a preset benchmark target. Extra-credits of up to maximal 10% of the entire grade are exclusively available for an active participation in the discussions within class. Hence, an active participation may help to obtain higher grades.

Workload

Participation in classes is mandatory, according to the rules set by Sciences-Po. Lecture notes will either be distributed in class or provided as electronic versions after individual sessions.

Required reading

  • The different issues of the IMF Global Financial Stability Report (in particular the executive summaries 2008, 2010, 2013) introduce into the general topics of the class. The De Larosière Report (link) and the G20 Study Group on Global Credit market Disruptions (link) provide both extensive background materials. Recent issues of the The Economist frequently discuss important aspects and most recent developments. Additional readings and a detailed reading list will be announced within the class