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Financial Markets and Institutions

1.      BRIEF COURSE DESCRIPTION

This course is designed to introduce and analyze the structure and functions of the financial system. The course starts with an introduction to financial institutions, focusing on their main functions and operations. After analyzing the determination of interest rates and valuation of cash flows, the course then discusses various financial markets including money markets, bond markets, stock markets and derivatives markets. The course finally discusses issues in financial institutions management. The objective is to enable students to understand the general functions and main features of important financial markets and institutions, and to be familiar with the structure and dynamics of the financial system. Finally, the course will shed light on the Ethiopian financial markets and institutions.

2.      COURSE GOASLS

  •  Provide students with knowledge of the structure and the role of the financial system.
  • Provide students with knowledge of the theories of interest rate determination.
  • Provide the students with the knowledge regarding the general functions and main features of important financial markets such as: money markets, bond markets, equity markets, foreign markets, and derivative markets.
  • Provide the students with the knowledge regarding the general functions and main features of important financial institutions such as: commercial banks, investment bankers and mutual funds.
  •  Develop students’ ability to identify the risks face the financial markets and institutions and their regulation.
  •  Provide students with knowledge of the international financial markets and institutions.
  •  Provide students with the main characteristics of the Ethiopian financial markets and institutions.

3.      COURSE LEARNING OUTCOMES

  • Demonstrate an understanding of the structure of the financial system.
  • Demonstrate an understanding of the nature and the role of the financial intermediation.
  • Explain the meaning, role and components of the interest rate.
  • Evaluate the theories of interest rate determination.
  • Analyze the function of money markets in the monetary policy.
  • Discuss the functions and components of capital markets.
  • Gain a familiarity with the nontraditional markets such as: foreign, derivatives and commodities markets.
  • Identify the types of economic risks of the financial markets and institutions.
  •  Evaluate the objectives and methods of regulating the financial markets and institutions.
  • Measure the positive effects of internationalization of financial markets and institutions.
  • Measure the negative effects of internationalization of financial markets and institutions.
  • Analyze the main features of the Ethiopian financial markets and institutions.


Research Methods and Computer Application

Research methods are widely accepted as means of getting information for decisions and policy formulation. In view of this, the course aims at equipping students of economics with the most appropriate methodology for their research studies. To reach this aim the course introduces different methodologies and methods available and enable students to produce, submit and defend a standard well substantiated thesis/research paper as a partial fulfillment of the requirements of the MSc. Degree in Economics. besides, the course will enable economists to do any other independent research aimed at producing a consultancy report, a research report, a pamphlet, a book, a journal article, or any other literary work. It is also aimed at equipping students with important software packages.  Due emphasis will be given to time series, cross sectional and panel data analysis.