Educazione finanziaria: introduzione alla moneta e alla finanza
About the CourseThe 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
Learning outcomesTo 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.