The program provides students with the analytical tools needed to understand the functioning of financial markets, the pricing of financial assets, and the role played by financial intermediaries. More specifically, students will learn how investors choose their portfolios and how their choices determine equilibrium asset prices.
They will also understand how to apply discrete-time and continuous-time techniques to price derivatives and use them for hedging or speculative purposes. Furthermore, students will analyze the role of liquidity in securities markets, and learn how security trading is organized and regulated, and how the trading process affects the formation of asset prices.
Finally, they will study how banking crises arise and propagate to the real economy, what regulators can do to prevent them, and how the “Fintech revolution” is shaping the banking industry.
This program is part of a series that includes two other programs in Economics and Finance: "Labor, Development & Policy Evaluation" and "Market Analysis". The program is designed in collaboration with the Department of Economics and Statistics (DISES) of the University of Naples Federico II.
What you will learn
- Key functions performed by financial markets
- Theoretical foundations of asset pricing
- Key techniques to price derivatives
- Role of liquidity in asset markets and its determinants
- Organization and regulation of security trading
- Role played by algorithmic and high frequency trading in security markets
- Skills to operate in the equity, bond, and derivative markets
- Threats to financial stability and banking prudential regulation
Courses
Asset Pricing I
Study the main functions of financial markets and portfolio choices and how these influence saving and investment decisions.
Asset Pricing II
Learn how to identify risk and how it can influence the equilibrium prices of financial assets.
Derivatives
Explore derivative pricing models, get an in depth knowledge of financial markets, security pricing, arbitrage, risk and return.
Market Microstructure
Learn about price formation and liquidity in securities markets. Discover the determinants of market depth and security trading.
Financial Intermediation
Learn the role played by financial intermediaries: finance investments and sources of risk related with such intermediation activity.
Asset Pricing I
Study the main functions of financial markets and portfolio choices and how these influence saving and investment decisions.
Asset Pricing II
Learn how to identify risk and how it can influence the equilibrium prices of financial assets.
Derivatives
Explore derivative pricing models, get an in depth knowledge of financial markets, security pricing, arbitrage, risk and return.
Market Microstructure
Learn about price formation and liquidity in securities markets. Discover the determinants of market depth and security trading.
Financial Intermediation
Learn the role played by financial intermediaries: finance investments and sources of risk related with such intermediation activity.
The Department of Economics and Statistics (DISES) at the University of Naples Federico II has a long tradition in training students interested in pursuing a career in academics, policy institutions and the financial industry. The Department currently offers a BA and a MA in Economics, a BA and MA in Finance, a MSc in Economics and Finance (MEF) and a PhD in Economics. Both the MEF and the PhD programs are entirely English-taught. Faculty members work on all major areas of microeconomics, macroeconomics, finance, statistics and mathematical economics. The Department also hosts the Center for Studies in Economics and Finance (CSEF), with which it is fully integrated in research and graduate teaching. |