First cycle
degree courses
Second cycle
degree courses
Single cycle
degree courses
School of Economics and Political Science
ECONOMICS AND FINANCE
Course unit
FINANCIAL ECONOMICS
ECM0013170, A.A. 2018/19

Information concerning the students who enrolled in A.Y. 2018/19

Information on the course unit
Degree course Second cycle degree in
ECONOMICS AND FINANCE
EP2422, Degree course structure A.Y. 2017/18, A.Y. 2018/19
N0
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Degree course track BANKING AND FINANCE [001PD]
Number of ECTS credits allocated 10.0
Type of assessment Mark
Course unit English denomination FINANCIAL ECONOMICS
Website of the academic structure http://www.economia.unipd.it
Department of reference Department of Economics and Management
E-Learning website https://elearning.unipd.it/economia/course/view.php?idnumber=2018-EP2422-001PD-2018-ECM0013170-N0
Mandatory attendance No
Language of instruction English
Branch PADOVA
Single Course unit The Course unit CANNOT be attended under the option Single Course unit attendance
Optional Course unit The Course unit can be chosen as Optional Course unit

Lecturers
Teacher in charge BRUNO MARIA PARIGI SECS-P/01

ECTS: details
Type Scientific-Disciplinary Sector Credits allocated
Core courses SECS-P/01 Political Economy 10.0

Course unit organization
Period First semester
Year 1st Year
Teaching method frontal

Type of hours Credits Teaching
hours
Hours of
Individual study
Shifts
Lecture 10.0 70 180.0 No turn

Calendar
Start of activities 01/10/2018
End of activities 18/01/2019

Syllabus
Prerequisites: Math, Statistics, Econometrics

This course is math-intensive and statistics-intensive.
Target skills and knowledge: Aim of the course is to offer students some of the economics tools applicable to finance. Both micro and macroeconomic models are introduced to present various economic and finance issues. The main themes recurring throughout the course are uncertainty, asymmetric information, intertemporal decisions of consumption and investment and asset pricing. Various aspects of the 2007-2009 financial crisis, and how it morphed into the public debt crisis will be analyzed. T

Course attendance is strongly suggested. Only part of the material for the exam is available on line. For those students that for whatever reason (e.g. work, distance, late graduation, etc.) cannot attend a large number of classes I suggest to talk to the teacher in person before attempting the exam, as wI would be happy to provide guidance.
Examination methods: Written and oral.
Assessment criteria: 30% of the grade will depend on a written midterm exam.
40% of the grade will depend on the written final exam exam.
20% of the grade will depend on the students presentations of some papers suggested by the teacher.
10% of the grade will depend on the results of the homework during the course.

For students that cannot attend classes, other ways to assess performance can be designed on a one to one basis.

Copies of previous exams and their solutions are available on line.

Students are invited to obtain them to familiarize with style and difficulty.
Course unit contents: FINANCIAL ECONOMICS

PART I. METHODOLOGY

Decisions under uncertainty and demand for insurance

Demand for insurance with asymmetric information

Basic of bonds, stocks, seniority, collateral

PART II. CRISIS

Financial instability: Theory

Financial instability: Applications

Financial instability: liquidity

The role of bank capital

Crisis: debt overhang, legacy assets, difficulty of raising capital

Crisis and asset valuations

Credit relationship

PART PART III MACRO

Crisis and public debt: models

Crisis and public debt: empirical evidence

Asset pricing

Anomalies in Portfolio choices

PART IV. CORPORATE FINANCE

Signaling in corporate finance

Payout policies

Market micro structure

Corporate Governance and incentives

PART V. RISK

Risk structure of interest rates and hedging
Planned learning activities and teaching methods: Presentation of mathematical models by teacher and exercises. Students presentations. Testimonials of some professionals. Case presentations.
Additional notes about suggested reading: There is no textbook, only teacher’s lecture notes.

Most of the lectures are on line in the web site (moodle) of this course and the relevant file is indicated near the topic.

Previous exams and solutions are on line in the web site of this course.
Textbooks (and optional supplementary readings)
  • none, --. --: --, --. Cerca nel catalogo

Innovative teaching methods: Software or applications used
  • Moodle (files, quizzes, workshops, ...)

Sustainable Development Goals (SDGs)
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