このコースについて
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中級レベル

約25時間で修了

推奨:6 hours/week...

英語

字幕:英語

100%オンライン

自分のスケジュールですぐに学習を始めてください。

柔軟性のある期限

スケジュールに従って期限をリセットします。

中級レベル

約25時間で修了

推奨:6 hours/week...

英語

字幕:英語

シラバス - 本コースの学習内容

1
4時間で修了

Perfect Capital Markets. Problems Caused by Private Information

In Week 1 we propose the set of assumptions and the framework of our discussion. We will discuss perfect capital markets and see how the deviations from this idealized model that are observed in our real life result in the demand for financial intermediation and for the services of financial institutions. We will discuss the fundamental problems caused by the existence of private information (moral hazard и adverse selection) and the damage they lead to. Based on the most simplistic models you will be able do delve deeper into the core of these problems and to evaluate their potential scale. You will learn what role the moral hazard plays in insurance, and how the adverse selection and moral hazard problems reduce the efficiency of lending.

...
12件のビデオ (合計104分), 6 readings, 2 quizzes
12件のビデオ
1.1. Introduction – perfect capital markets5 分
1.2. Demand for the financial intermediation6 分
1.3. Model of private information – key assumptions6 分
1.4. Model of moral hazard14 分
1.5. Co-insurance as a market solution to the moral hazard problem4 分
1.6. Moral hazard in insurance (1) – a more advanced model12 分
1.7. Moral hazard in insurance (2) – incomplete insurance8 分
1.8. Model of adverse selection11 分
1.9. Adverse selection in credit markets (1) – expected cash flows to the bank12 分
1.10. Adverse selection in credit markets (2) – credit rationing8 分
1.11. Moral hazard from increasing interest rates9 分
6件の学習用教材
Konstantin Kontor10 分
AIBEc. The American Institute of Business and Economics10 分
Grading10 分
Handouts – an important comment10 分
1.1. Why do financial institutions exist?10 分
1.2. Problems caused by private information10 分
2の練習問題
1 (Practice)20 分
1 - Moral hazard, adverse selection, and the adventures of the greedy monopolist bank1 時間
2
3時間で修了

ALLEVIATION OF MORAL HAZARD – DEBT AND EQUITY CONTRACTS. BANKS (1) – DIVERSIFICATION AND MONITORING

In Week 2 we will consider certain ways of overcoming problems caused by private information and evaluate them. We will know why some methods work while others don’t, and why. You will learn the core differences between equity and debt financing, study debts contracts with liquidation and see the core inefficiency of that kind of a debt contract. Based on a simple model you will study diversification and delegated monitoring and see how they contribute to the efficiency of lending. We will find out how a bank emerges as a key financial intermediary responsible for asset monitoring. You will be able to see why the bank can make money and to calculate its profit in different cases. At the end of Week 2 we will pose a fundamental question: How does the bank attract depositors?

...
7件のビデオ (合計50分), 2 readings, 2 quizzes
7件のビデオ
2.2. Debt contract with liquidation (DCL) as a means of alleviation of moral hazard. The inefficiency of DCL6 分
2.3. Monitoring as a universal and efficient way of overcoming unobservability5 分
2.4. Multiple lenders (1) – the model8 分
2.5. Multiple lenders (2) – bank contracts5 分
2.6. Delegated monitoring (1) – the interaction of the parties and bank’s profit12 分
2.7. Delegated monitoring (2) – banks’ vulnerability to runs5 分
2件の学習用教材
2.1. Alleviation of moral hazard – debt and equity contracts1 時間
2.2. Diversification and the feasibility of delegated monitoring10 分
2の練習問題
2 (Practice)20 分
2 - Debt contracts and the anatomy of bank financing1 時間
3
3時間で修了

Banks (2) – Asset Transformation and Liquidity Creation. Banks’ Vulnerability with Respect to Runs

Week 3 of the Course is devoted to the analysis of creation of liquidity – namely, we do answer the question of how a bank attracts depositors. You will get introduced to asset transformation and will learn how the presence of banks in capital markets makes the money circulation in the economy more efficient. You will analyze the market participants’ preferences and the “safety cushion” of a bank. We will study the mechanism of bank runs and feel how vulnerable the bank is with respect to runs. You will learn what methods of fighting bank runs have been used in centuries, and realize why the role of government in regulating of the banking business is so important. We will discuss deposit insurance as a universal and effective mechanism of preventing runs.

...
8件のビデオ (合計74分), 2 readings, 2 quizzes
8件のビデオ
3.2. Liquidity creation (1) – the model of liquidity11 分
3.3. Liquidity creation (2) – the mechanism10 分
3.4. Banks’ vulnerability with respect to runs15 分
3.5. Ways to fight bank runs (1) – suspension of convertibility4 分
3.6. Ways to fight bank runs (2) – deposit insurance9 分
3.7. Problems of deposit insurance12 分
3.8. Deposit insurance and the need to regulate6 分
2件の学習用教材
3.1. Banks – illiquid asset transformation10 分
3.2. Banks – creation of liquidity and bank runs10 分
2の練習問題
3 (Practice)20 分
3 - Asset transformation – “black boxes” and “red triangles”1 時間
4
3時間で修了

Bank Regulation and Reform. Payment Services. Mobile Banking. Bank 3.0

Week 4 of the Course consists of two parts. The first part is devoted to the discussion of challenges and development of banking regulation. We consider the S&L market crash of the 1980’s as a trigger to the initiation of the worldwide regulatory movement. You will get introduced to the Basel process as the basis of the modern bank regulation. The second part of Week 4 shifts focus somewhat. We will talk about the payment services that are tantamount to banking for the majority of population, at least in the developed world. We will discuss how the fast development of IT technologies, the Internet and the social media influences banking business. But we will see that the most important functions of banking – asset monitoring and liquidity creation – do not disappear but take a new shape. At the very end we will drop a few words about private banking – a very specific area of banking services for high net worth individuals.

...
8件のビデオ (合計78分), 1 reading, 2 quizzes
8件のビデオ
4.2. The S&L crisis of the 1980’s. Zombie S&L’s. The sources and reasons of bank regulation8 分
4.3. Bank regulation (1) – nature, goals, and importance13 分
4.4. Bank regulation (2) – mechanism. The Basel Accords14 分
4.5. Payment services – history, development, and technology5 分
4.6. Mobile banking (1) – technology and services. Bank 3.011 分
4.7. Mobile banking (2) – loans and monitoring at Bank 3.012 分
4.8. Private banking. Mobile banking and traditional banking – from conflict to synergy7 分
1件の学習用教材
4. Bank regulation and reform – an overview of articles10 分
2の練習問題
4 (Practice)20 分
4 - From the Great Depression to Bank 3.01 時間
4.5
6件のレビューChevron Right

Capital Markets and Financial Institutions – How to Survive Them からの人気レビュー

by ECSep 14th 2018

Good course with a lot of clues where to dig further.\n\nIt makes you understand the mechanics behind many financial decisions.

by DHNov 13th 2018

The pace of the course is great, I gladly will recommend this to others foe quality reference.

講師

Avatar

Konstantin Kontor

Director and Professor of Finance and Strategy
American Institute of Business and Economics (AIBEc)

モスクワ物理工科大学(Moscow Institute of Physics and Technology)について

Московский физико-технический институт (Физтех) является одним из ведущих вузов страны и входит в основные рейтинги лучших университетов мира. Институт обладает не только богатой историей – основателями и профессорами института были Нобелевские лауреаты Пётр Капица, Лев Ландау и Николай Семенов – но и большой научно-исследовательской базой. Основой образования в МФТИ является уникальная «система Физтеха», сформулированная Петром Капицей: кропотливый отбор одаренных и склонных к творческой работе абитуриентов; участие в обучении ведущих научных работников; индивидуальный подход к отдельным студентам с целью развития их творческих задатков; воспитание с первых шагов в атмосфере технических исследований и конструктивного творчества с использованием потенциала лучших лабораторий страны. Среди выпускников МФТИ — нобелевские лауреаты Андрей Гейм и Константин Новоселов, основатель компании ABBYY Давид Ян, один из авторов архитектурных принципов построения вычислительных комплексов Борис Бабаян и др....

American Institute of Business and Economicsについて

The American Institute of Business and Economics (AIBEc) offers a wide variety of business courses in finance, accounting, marketing, strategy, HR, business law, economics, general management, business psychology, as well as course projects and the Field study. AIBEc provides for flexibility and customization of programs and schedules....

Understanding Modern Financeの専門講座について

This Specialization is designed for a wide audience of those interested in finance either professionally or just of curiosity, including managers of different levels specializing in finance, accounting, business planning, strategy, consulting, and project management, IT specialists engaged in the area of finance, fin-tech, big data, and valuation, etc. Through four courses and the final Project, you will cover the theory and practice of capital markets and financial institutions, corporate finance and project valuation, financial and managerial accounting as applied to finance, as well as the M&A market as the ultimate judge of financial efficiency and value creation. The Specialization will prepare you to understand and use the applications of financial ideas, concepts, models, strategies, and tools to build a successful career in finance and in business, as well as to take advantage of opportunities offered by financial markets....
Understanding Modern Finance

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