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Financial Institutions & Regulation

  • Enseignant(s): A.Bruhin
  • Titre en français: Institutions financière & régulation
  • Cours donné en: anglais
  • Crédits ECTS: 6 crédits
  • Horaire: Semestre de printemps 2018-2019, 4.0h. de cours (moyenne hebdomadaire)
  •  séances
  • Formations concernées:
    Maîtrise universitaire ès Sciences en économie politique

    Maîtrise universitaire en Droit et économie

 

Objectifs

The course financial institutions and regulation aims at giving you a better understanding (i) of the main economic roles financial intermediaries fulfill and (ii) of the current issues in financial regulation.

Contenus

The course consists of two parts. The first part is theoretical and provides a short introduction into modern banking theory. We will discuss some seminal papers that shed light on the question why banks – and financial intermediaries in general – exist and what economic roles they fulfill. In particular, we will analyze how financial intermediaries mitigate frictions arising form asymmetric information and why this renders them inherently fragile and prone to liquidity crises. The second part is more practical and focusses on the regulation of banks. Based on the insights gained in the first part, we will discuss topics such as systemic risk & contagion, why banking is so tightly regulated in most countries, the capital structure & capital regulation of banks, and the “too big to fail” problem.

Références

Main readings:

  • Freixas, X. and J.C. Rochet „Microeconomics of Banking“, MIT Press, second edition
  • Various scientific papers

Pré-requis

Basic knowledge of microeconomics and game theory is essential.

Some acquaintance with economics of information and corporate finance is helpful but not needed.

Evaluation

1ère tentative

Examen:
Ecrit 2h00 heures
Documentation:
Non autorisée
Calculatrice:
Non autorisée
Evaluation:

Written final exam (70%) + presentation of a problem set in groups (30%)*

*: If there are too many students, some groups will have to hand in a written reoport instead of giving a presentation.

Rattrapage

Examen:
Ecrit 2h00 heures
Documentation:
Non autorisée
Calculatrice:
Non autorisée
Evaluation:

The retake exam counts for 100%



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