This course offers students a broad understanding of how financial markets work. As any other market, financial markets are centered on a certain good (money) and are subject to the forces of supply (lenders) and demand (borrowers) that are determined by some equilibrium price (interest rate). However, unlike other markets, various products can be derived from money, like loans, bonds, equity, mortgages, and financial derivatives. This feature makes the study of financial markets very dynamic. The first part of the course explores the determinants of interest rates and their impact on asset pricing. The second part examines securities markets and their embedded risks. The third part will explore the working of financial institutions including commercial banks, Investment banks, Mutual Funds, Pension Funds and Insurance companies. Although financial institutions vary in their financial intermediation activities they all face common risks. We will shed lights on how to measure such risks.

Temps présentiel : 15 heures

Charge de travail étudiant : 35 heures

Méthode(s) d'évaluation : Examen final, Travail personnel