{"id":1787,"date":"2024-01-17T04:18:05","date_gmt":"2024-01-17T04:18:05","guid":{"rendered":"https:\/\/bankfin.unipi.gr\/mastersbankfin\/?post_type=courses&#038;p=1787"},"modified":"2024-01-23T02:49:32","modified_gmt":"2024-01-23T02:49:32","slug":"economics-of-the-financial-system","status":"publish","type":"courses","link":"https:\/\/bankfin.unipi.gr\/mastersbankfin\/en\/courses\/economics-of-the-financial-system\/","title":{"rendered":"Economics of the Financial System"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1787\" class=\"elementor elementor-1787\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2d3b16b e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-parent\" data-id=\"2d3b16b\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;,&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f86e733 elementor-widget elementor-widget-heading\" data-id=\"f86e733\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.19.0 - 29-01-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">Economics of the Financial System<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c5d1042 elementor-widget elementor-widget-text-editor\" data-id=\"c5d1042\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.19.0 - 29-01-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span style=\"color: #ffc747;\"><b>Full Time<\/b><\/span>\/\/ 3rd Semester, Course Code: <strong>\u039c\u0395\u03a7\u03a1\u0397215<\/strong><\/p><p><span style=\"color: #00ffff;\"><strong>Part Time<\/strong><\/span> \/\/ 3rd Semester, Course Code: <strong>\u039c\u0395\u03a7\u03a1\u0397-\u039c215<\/strong><\/p><p><strong>Credits:<\/strong>\u00a0<strong>6<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1be3624 e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"1be3624\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4b27792 elementor-widget elementor-widget-n-accordion\" data-id=\"4b27792\" data-element_type=\"widget\" data-settings=\"{&quot;default_state&quot;:&quot;all_collapsed&quot;,&quot;max_items_expended&quot;:&quot;one&quot;,&quot;n_accordion_animation_duration&quot;:{&quot;unit&quot;:&quot;ms&quot;,&quot;size&quot;:400,&quot;sizes&quot;:[]}}\" data-widget_type=\"nested-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"e-n-accordion\" aria-label=\"Accordion. Open links with Enter or Space, close with Escape, and navigate with Arrow Keys\">\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-7880\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"1\" tabindex=\"0\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-7880\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><h4 class=\"e-n-accordion-item-title-text\"> Course Description in .pdf <\/h4><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-7880\" class=\"elementor-element elementor-element-77f8224 e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"77f8224\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d2d9e5d elementor-widget elementor-widget-button\" data-id=\"d2d9e5d\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-xs\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Full Time Course Description (Greek)<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6bc9559 elementor-widget elementor-widget-button\" data-id=\"6bc9559\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-xs\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Full Time Course Description (English)<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d29392d elementor-widget elementor-widget-button\" data-id=\"d29392d\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-xs\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Part Time Course Description (Greek)<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4db8e3e elementor-widget elementor-widget-button\" data-id=\"4db8e3e\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-xs\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Part Time Course Description (English)<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1b2e281 e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-parent\" data-id=\"1b2e281\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-e4d78cd e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"e4d78cd\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a04884b elementor-widget elementor-widget-heading\" data-id=\"a04884b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Learning Outcomes<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6b7ab65 elementor-widget elementor-widget-text-editor\" data-id=\"6b7ab65\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>This course<\/p>\n<ul>\n<li>describes the main financial products and functions of banks, as well as the risks they undertake in order to contribute to social welfare, using as vehicle their main financial statements,<\/li>\n<li>explores bank risk management, including the risks from asymmetric information,<\/li>\n<li>explores the multi-faceted interactions between banks, the financial system, governments, central banks and the economy,<\/li>\n<li>analyses the private incentives of all players, from bank employees all the way to the top management of the supervisory authorities,<\/li>\n<li>stresses the role of information technology and of other forces of change,<\/li>\n<li>describes the dynamics of banking crises,<\/li>\n<li>highlights the logical underpinnings of the complex institutional framework that governs the operation of banks,<\/li>\n<li>uses current economic and financial developments, both domestic and international, to tie the course to the real world.<\/li>\n<\/ul>\n<p>After completing this course, students are expected to<\/p>\n<ul>\n<li>analyse critically banks\u2019 financial statements,<\/li>\n<li>understand bank risks and functions,<\/li>\n<li>understand the role and dilemmas of the institutional framework,<\/li>\n<li>assess the likely impact of changes in the institutional framework and in the economy on bank strategies,<\/li>\n<li>combine the logic of banking with macroeconomic and financial analyses for real-world economic decision-making.<\/li>\n<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-83d39a9 elementor-widget elementor-widget-heading\" data-id=\"83d39a9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">General Competences<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-851ad4d elementor-widget elementor-widget-text-editor\" data-id=\"851ad4d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul>\n<li>Search for, analysis and synthesis of data and information<\/li>\n<li>Adapting to new situations<\/li>\n<li>Decision-making<\/li>\n<li>Working independently<\/li>\n<li>Working in an international environment<\/li>\n<li>Team work<\/li>\n<li>Working in an interdisciplinary environment<\/li>\n<li>Working in an international environment<\/li>\n<li>Production of new research ideas<\/li>\n<li>Production of free, creative and inductive thinking<\/li>\n<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ed9f55d elementor-widget elementor-widget-heading\" data-id=\"ed9f55d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Course Content<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d73566 elementor-widget elementor-widget-text-editor\" data-id=\"5d73566\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>A<\/strong><strong>.<\/strong><strong> The big picture<\/strong><\/p>\n<ol>\n<li>Financial system \u2013 Structure and main players<\/li>\n<li>Main financial products \u2013Contractual characteristics and counterparty risks<\/li>\n<li>Financial system functions and malfunctions<\/li>\n<\/ol>\n<p><strong>B<\/strong><strong>. <\/strong><strong>Introduction to banking<\/strong><\/p>\n<ol>\n<li>Bank accounting\n<ul>\n<li>Balance sheet and off-balance sheet items<\/li>\n<li>Income statement<\/li>\n<li>Loan-loss provisions \u2013 Dilemmas and perverse incentives<\/li>\n<\/ul>\n<\/li>\n<li>Bank strategies\n<ul>\n<li>Competition<\/li>\n<li>Fintech<\/li>\n<\/ul>\n<\/li>\n<li>Financial intermediation and related risks\n<ul>\n<li>Credit risk<\/li>\n<li>Liquidity risk<\/li>\n<li>Interest rate risk<\/li>\n<\/ul>\n<\/li>\n<li>FX and Other risks<\/li>\n<li>Introduction to the regulatory framework \u2013 Basle Accords<\/li>\n<\/ol>\n<p><strong>C<\/strong><strong>. <\/strong><strong>The economic &amp; institutional environment<\/strong><\/p>\n<ol>\n<li>The extensive safety net for banks \u2013 Description and dilemmas<\/li>\n<li>Banks, asymmetric information and market discipline<\/li>\n<li>The labyrinth of the institutional framework<\/li>\n<li>Supervision<\/li>\n<\/ol>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d6afdd elementor-widget elementor-widget-heading\" data-id=\"5d6afdd\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Student Performance Evaluation<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e9b19bd elementor-widget elementor-widget-text-editor\" data-id=\"e9b19bd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Written exam: 40%. Essays<\/p>\n<p>Case studies: 40%<\/p>\n<p>Class participation: 20%<\/p>\n<p>The evaluation criteria are spelled out in the syllabus.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ec540eb elementor-widget elementor-widget-heading\" data-id=\"ec540eb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Bibliography<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02613e0 elementor-widget elementor-widget-text-editor\" data-id=\"02613e0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Suggested Bibliography<\/strong><\/p><ul>\n<li><strong>Banking \u2013 Management &amp; Strategy<\/strong>, Angelos A. Antzoulatos, DiploGrafia Publishing, 2020 (in Greek).<\/li>\n<\/ul>\n<p><strong>Related Academic Journals<\/strong><\/p><p>Academic articles and policy papers from the ECB, the IMF, World Bank\/IFC, the BIS\u2026<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fc52922 e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"fc52922\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0334a2f elementor-widget elementor-widget-text-editor\" data-id=\"0334a2f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: center;\"><strong>Master of Science (M.Sc.) in<br \/>\u00abBanking and Finance\u00bb<\/strong><br \/>Specialization in <br \/>\u00abBanking and Financial Management\u00bb<br \/><br \/><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ba5dc34 elementor-widget elementor-widget-heading\" data-id=\"ba5dc34\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Courses<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bb23b00 hfe-nav-menu__breakpoint-none hfe-nav-menu__align-left hfe-submenu-icon-arrow hfe-submenu-animation-none hfe-link-redirect-child elementor-widget elementor-widget-navigation-menu\" data-id=\"bb23b00\" data-element_type=\"widget\" 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