Issued by: University of Modena and Reggio Emilia

Educazione finanziaria: introduzione alla moneta e alla finanza

About the Course

The course is structured around five key themes:

Payment systems: cash, bank transfers, debit and credit cards, web platforms (eg Paypal).
Public and private money: banknotes, central bank money, bank deposits, electronic money, digital money, cryptocurrencies.
Financial system: banks, insurance companies, other intermediaries, Fintech.
Financial risks, investment financial instruments, portfolio choices: interest rates, credit risk, liquidity risk, inflation, stocks, bonds, fixed or floating exchange rates.
Single money: Economic and Monetary Union, Euro, ECB, Banking Union

Attendance and Credentials

Attendance

FREE!

Attendance Certificate

FREE!

Course Agenda

Course Opens

Oct 21, 2019

Course Closes

Not Set

Learning outcomes

To understand:

the three functions of money: numeraire, payment instrument, investment instrument;
how payment systems work: retail (low unitary value) and large (high unitary value);
how public and private moneys differ;
Central Bank’s role;
costs and benefits of banknotes;
how commercial banks create deposits;
ECB’s and national central banks’ roles in the eurosystem;
costs and benefits of euro in the UEM;
components and functions of financial system, how the intermediation channels work;
institutional sectors of national accounts: households, non-financial and financial companies, Public sector, Rest of world sector;
main financial instruments: Bonds, Shares, Insurance contracts, Derivatives;
main evaluation methodologies of financial instruments;
main government securities;
interest rate risk, financial indexation, interest rate term structure;
shares evaluation, Dividend model, Portfolio diversification;
derivatives: forwards, futures and options.

Background and Requirements

None

Textbooks

In the course you will find references to textbooks and recommended readings.

Course Format

The course, made of videolectures and exercises, is composed by two modules: Part A - Money, payment systems, central bank, Economic and Monetary Union; Part B - Financial system: components and functions, Financial deficit/surplus and main institutional sectors, Financial instruments and evaluation methodologies.