MARCHES ET FINANCEMENT DE L'ECONOMIE

Professeurs

CONSTANCE BOUBLIL - GROH  - Economist, Société Générale, Paris

JACOPO MARIA D’ANDRIA - Economist, Société Générale, Paris

Les objectifs du cours

The objective of this course is to describe the strong interactions between financial markets and the economy:

• from the economy towards markets, by reviewing how economic newsflow affects the fundamental valuation of different assets classes,
• from markets towards the economy, by presenting the predominant role played by financial markets and financial institutions in the economy (crises, raw materials price movements,.)

The course will be organized around different themes prevalent in the current financial and economic environment considered as helpful to illustrate fundamental financial and economic principles. Particular attention will be drawn on the links between finance and economic policies, as fiscal policy, monetary policy and finance regulation.

Plan du cours

The course will go through the following themes:

. Session I - Reminder of key macroeconomic analysis tools; Interaction between finance, fiscal and monetary policies (focus on the US) (3h – Constance)

· Session II - Interaction between finance, fiscal and monetary policies (focus on the Eurozone) (3h – Jacopo)

· Session III - Portfolio allocation strategy (3h – Clémentine)

· Session IV- Evolution of the financial regulation through crises (3h – Jacopo)

· Session V- Implication for the banking sector and case studies (3h – Jacopo)

· Session VI – Economic developments in emerging markets (3h – Constance)

· Session VII – Implications of key financial crises in emerging markets and application through case studies (3h – Constance)

Bibliographie

Mishkin F. S. , 2013, « Economics of Money, Banking, and Financial Markets »
Reinhart C. M.  & K. S. Rogoff, 2011, « This Time Is Different: Eight Centuries of Financial Folly »

Examen

Final exam.