Università degli Studi di Napoli "Parthenope"

  1. Teaching
  2. ECONOMIC, FINANCIAL AND INTERNATIONAL SCIENCES
  3. HISTORY OF FINANCIAL MARKETS

Stampa

HISTORY OF FINANCIAL MARKETS

Teaching schedule

Academic year: 
2020/2021
Belonging course: 
Course of Master's Degree Programme on ECONOMIC, FINANCIAL AND INTERNATIONAL SCIENCES
Disciplinary sector: 
ECONOMIC HISTORY (SECS-P/12)
Language: 
Italian
Credits: 
9
Year of study: 
2
Teachers: 
Dott. BARTOLETTO Silvana
Cycle: 
First Semester
Hours of front activity: 
72

Language

Lectures: Italian
Readings: English

Course description

Learning Objectives
The course analyzes the evolution of financial markets in a long-term perspective, focusing on the financial crises and the evolution of monetary and credit systems, with the aim of providing students with the theoretical tools for understanding current issues and identify future scenarios thanks to the study of past financial policies.

Prerequisites

Knowledge of Macroeconomics

Syllabus

The course examines the evolution of the financial markets during the last two centuries. The main topics include:
1) Financial crises: debt crises (external and domestic default), banking crises, inflation crises, currency crashes. Case studies analysis. (3 ECTS-24 hours lectures)
2) The evolution of monetary systems (2 ECTS-16 hours lectures):
-Gold Standard (1870-1914);
-Gold Standard between two World Wars (1918-1939);
-Bretton Woods System, International Monetary Fund;
-European monetary system 1979-1998
-Euro and economic policy of Euro area
3) Fisher theory of debt-deflation, and 1929 crises (1 ECTS-8 hours lectures)
4) Sustainability of public debt in Italy (1861-2017) (1 ECTS-8 hours lectures)
5) Business and credit cycles in Italy (1861-2013) (1 ECTS-8 hours lectures)
6) Energy prices, and shock oil prices (1 ECTS-8 hours lectures)

The course examines the evolution of the financial markets during the last two centuries. The main topics include:
1) Financial crises: debt crises (external and domestic default), banking crises, inflation crises, currency crashes. Case studies analysis. (3 ECTS-24 hours lectures)
2) The evolution of monetary systems (2 ECTS-16 hours lectures):
-Gold Standard (1870-1914);
-Gold Standard between two World Wars (1918-1939);
-Bretton Woods System, International Monetary Fund;
-European monetary system 1979-1998
-Euro and economic policy of Euro area
3) Fisher theory of debt-deflation, and 1929 crises (1 ECTS-8 hours lectures)
4) Sustainability of public debt in Italy (1861-2017) (1 ECTS-8 hours lectures)
5) Business and credit cycles in Italy (1861-2013) (1 ECTS-8 hours lectures)
6) Energy prices, and shock oil prices (1 ECTS-8 hours lectures)

Teaching Methods

The course structure features in-person lectures and teaching support for case studies. Students are required to discuss assigned readings, which will be defined in due time. Lecture slides and extra course material will be made available on Moodle.

Textbooks

STUDENTS ATTENDING CLASSES:
Reinhart C., Rogoff K., Questa volta è diverso. Otto secoli di follia finanziaria, casa editrice il Saggiatore, 2010.
-Selected papers in English
-preparation and discussion of case studies.
STUDENTS NOT ATTENDING CLASSES
Reinhart C., Rogoff K., Questa volta è diverso. Otto secoli di follia finanziaria, casa editrice il Saggiatore, 2010.
-Casses Y., Le capitali della finanza, Brioschi editore, 2006
(Students can alternatively study the English version of reference texts)

Learning assessment

Final grades will be awarded by taking into account:
-attendance, class participation;
- case studies: papers, articles or books will be presented and discussed by students, individually or in groups;

-final examination (oral)

More information

Knowledge and understanding
Students have to understand the mechanisms that have determined the evolution of financial markets in a long-term perspective.

Applying knowledge and understanding
Students have to be able to analyze financial crises, the evolution of monetary systems, credit systems and different stages of monetary and financial integration.

Making judgments
Students have to demonstrate that they have developed a critical capacity in the analysis of the history of financial markets. They have to be able to apply this knowledge for understanding current problems and possible future scenarios.

Communication
Students have to be able to answer the test questions correctly, clearly and comprehensively, demonstrating that it has understood the long-term economic and financial dynamics.

Lifelong learning skills
Students have to develop the ability to reason on the main determinants of change in the history of financial markets, with reference to financial crises, credit and monetary systems.