ECTS credits ECTS credits: 4.5
ECTS Hours Rules/Memories Student's work ECTS: 74.2 Hours of tutorials: 2.25 Expository Class: 18 Interactive Classroom: 18 Total: 112.45
Use languages Spanish, Galician, English
Type: Ordinary Degree Subject RD 1393/2007 - 822/2021
Departments: Financial Economics and Accounting
Areas: Financial Economics and Accounting
Center Faculty of Business Administration and Management
Call: First Semester
Teaching: Sin docencia (Extinguida)
Enrolment: No Matriculable
The purpose of this subject is to analyze the Spanish financial system, focusing on its three fundamental elements: assets, markets and financial intermediaries. In this sense, the activity of financial institutions is analyzed, with a clear orientation towards financial management, as well as the different investment and financing alternatives, the valuation techniques of financial assets and the markets in which these financial assets are issued and negotiated.
FIRST PART. INTRODUCTION TO THE FINANCIAL SYSTEM: Financial system, functions of the ESCB / EUROSYSTEM / Bank of Spain, monetary policy, interbank market and payment systems.
1. Structure of the financial system
1.1. Introduction
1.2. Concept, characteristics and functions of the financial system
1.3. Assets, intermediaries and financial markets
1.4. The current structure of the financial system: General characteristics
1.4.1. The international context of the financial system
1.4.2. Regulation and supervision of the financial system
1.4.3. The European Monetary authority
1.4.4. The main institutions and markets of the Spanish Financial System
1.5. Summary, conclusions and review test
2. Monetary policy, interbank market and payment systems
2.1. Introduction
2.2. The institutional framework of the Economic and Monetary Union
2.3. Functions of the Central Banks. the European System of Central Banks (ESCB)
2.4. The Bank of Spain: organization and function
2.5. Payment systems: TARGET2-bank of Spain and SNCE
2.6 The BE and the monetary policy of the European Central Bank (ECB)
2.6.1. The strategy of monetary policy
2.6.2. Eurosystem monetary policy instruments
2.7. The interbank market
2.8. Summary, conclusions and review test
SECOND PART. FINANCIAL INSTITUTIONS: Credit institutions, banking system, risk management of banking activity,
collective investment institutions, insurance companies and pension funds and other financial institutions.
3. The Credit Entities
3.1. Introduction
3.2. The institutional framework in force in the European Union in the field of regulation, supervision and financial stability.
3.3. The Credit Institutions: Banks, Savings Banks, Credit Cooperatives, Credit Financial Establishments and ICO.
3.4. Analysis of assets and liabilities through their Financial Statements.
3.5. Deposit Guarantee System
3.6. Summary, conclusions and review test
4. The banking system: risk management in banking activity
4.1. The risks of banking activity
4.2. Credit investment and credit risk
4.3. Liquidity and its management
4.4. Interest risk: the management of assets and liabilities
4.5. Towards a new regulation and supervision of financial risks
4.6. Solvency and liquidity of the Credit Institutions. Capital requirements of Basel
II and Basel III
4.7. On account of exploitation of credit institutions. Financial analysis of deposit entities
4.8. The restructuring of the Spanish banking system: the FROB
4.9. Summary, conclusions and review test
5. Other financial institutions
5.1. Introduction
5.2. The Institutions of Collective Investment in transferable securities
5.3. The Institutions of Collective Investment in real estate
5.4. Economic motivation and financial management of the Companies and Investment Funds
5.5 The Companies and Agencies of Values
5.6. Asset Securitization Funds
5.7. The venture capital investment process. Companies and Private Equity Funds
5.8. Financial Rating Agencies
5.9. The Reciprocal Guarantee Societies
5.10. Financial trends of the insurance industry. Insurance Companies and Pension Funds
5.11. Summary, conclusions and review test
THIRD PART. ASSETS AND FINANCIAL MARKETS: Fixed income assets and markets, Assets and income markets
variable, and derived and structured products.
6. Assets and fixed income markets
6.1. Introduction
6.2. Interest Rates and ETTI.
6.3. Valuation of Fixed Income Assets
6.4. Risk and profitability in fixed income operations
6.5. Fixed Income Markets
6.5.1. The Annotated Public Debt Market
6.5.2. The Private Fixed Income Markets
6.6. Convertible Obligations and Preferred Stock
6.7. Summary, conclusions and review test
7. Assets and the equity market
7.1. Introduction
7.2. Equity assets
7.2.1. General characteristics
7.2.2. Assessment
7.3. The primary market OPVs and OPSs
7.4. The secondary market
7.4.1. Operations
7.4.2. Organization
7.4.3. Hiring and settlement
7.4.4. Cost of operating on the Stock Exchange
7.5. Summary, conclusions and review test
BASIC BIBLIOGRAPHY:
- ANALISTAS FINANCIEROS INTERNACIONALES, El Sistema Financiero Español, AFI, 2008.
- BARQUERO CABRERO, J. e HUERTAS COLOMINA, F. (coords.), Banca, finanzas y seguros, Ed. Gestión 2000, 2000.
- CASILDA BEJAR, R et AL., La banca y los mercados financieros, Ed. Alianza, 1997.
- FABOZZI, F., Investment Management, Ed. Prentice Hall, 1995.
- FABOZZI, F, MODIGLIANI, F. e FERRI, M., Mercados e Instituciones Financieras, Ed. Prentice Hall, 1996.
- LÓPEZ PASCUAL, J. e SEBASTIÁN GONZÁLEZ, A., Gestión bancaria, Ed MacGraw-Hill, 2007.
- MARTIN MARIN, José Luis; TRUJILLO PONCE, Antonio (2004): Manual de Mercados Financieros. Thomson, Madrid.
- MENDIALDUA, A.B y otros (2009): Gestión de Entidades Financieras. Netbiblo, La Coruña.
- OTERO GONZÁLEZ, L., La gestión de activos y pasivos en el sector asegurador de vida, ICEA, 2001.
- PALOMO ZURDO, R. e MATEU GORDON, J., Productos, instrumentos y operaciones de inversión, ISTPB, 2004.
- PÉREZ, J. L., Conociendo el seguro, Ed. Umeser, Madrid, 2001.
- RODRÍGUEZ, L.; PAREJO, J. A.; CUERVO, A. e CALVO, A., Manual del sistema financiero español, 20ª edic., Ariel, Barcelona,
2007.
COMPLEMENTARY BIBLIOGRAPHY:
References in the classroom will be provided for those topics in which it is considered necessary
Basic and General
CB1 – The students have to demonstrate that they possess and understand knowledge in an area of study that starts from the base of the general secondary education, and is usually found at a level that, while supported by advanced textbooks, also includes some aspects that imply knowledge coming from the vanguard of his field of study
CB2 – The students have to know how to apply their knowledge to their work or vocation in a professional manner and possess the competencies that are usually demonstrated through the elaboration and defense of arguments and the resolution of problems within their area of study
CB3 - The students have the ability to gather and interpret relevant data (usually within their area of study) to make judgments that include a reflection on relevant issues of social, scientific or ethical nature
CB4 - The students can transmit information, ideas, problems and solutions to a specialized and non-specialized publicCB5 - The students have to develop the necessary learning skills to undertake further studies with a high degree of autonomy
CG1 - The students have to possess and understand the knowledge that defines Business Administration and Management as a scientific discipline, including its theories, history, methods, techniques and areas of application, at a level that is supported by the most advanced and includes some of the most relevant aspects that are at the forefront of knowledge in this field
CG5 - The students have to possess the general knowledge and learning skills necessary to continue studying and to undertake specialized studies in the different areas of the company and in other related areas, with a high degree of autonomy.
Transversal
CT1 - Analysis and synthesis
CT2 - -Organization and planning
CT3 - -Oral and written communication
CT4 - -Management of information.
CT5 - Knowledge of information technology related to the field of study.
CT6 - -Resolution of problems.
CT7 - Decision making.
CT8 - -Critical reasoning
CT9 - -Autonomy in learning
CT10 - Team work
CT11 - -Work in an interdisciplinary team
CT12 - -Human skills in interpersonal relationships
CT13 - Ethical sense
CT14 - Adaptation to the environment and change
CT15 - -Knowledge of other cultures and customs, and work in an international context
CT16 - Sensitivity towards social and environmental problems
CT17 - -Negotiation and conflict management
CT18 - -Initiative and entrepreneurial spirit
CT19 - Creativity and innovative capacity
CT20 - -Management by objectives
CT21 - Project management
CT22 - -Development of quality
CT23 - Intellectual stimulation
Specific
D7 - Understand economic institutions as a result and application of theoretical or formal representations about how the economy works
D9 - Usual use of information and communication technology throughout their professional performance
D10 - Apply to the analysis of the problems professional criteria based on the management of technical instruments
As this is a fourth-year subject, it will be a matter of applying a practical approach that allows the student to have a good knowledge of the reality of markets and the activity of financial institutions. Given that this requires the handling of abundant financial information, both practical classes and autonomous student work will be promoted. The classroom sessions dedicated to the expository classes will serve to introduce the student to the topics of the program and explain the work plan, providing the material and additional information necessary to allow an adequate development of the autonomous learning process. At the end of each subject, the student must perform different exercises and activities and, periodically, perform monographic works of some of the topics that make up the program, in many cases from searches and analysis of information extracted from the web that will later be presented, well individually, well in a group. They must also solve problems and real cases with the support of computer software. In this way, the management of financial information on the Internet and the resolution of cases based on it will be strengthened.
The exams are part of the learning process and are aimed at assessing the general, specific and transversal competences that the student acquires during the course.
Possibles scenarios:
• Scenario 1: The theorethical sessions will take place in the assigned classroom and the practical sessions can be both in the regular classroom and in the computer labs. The tutorials will be primarily face-to-face.
• Scenario 2: Combination of face-to-face and virtual teaching in accordance with the guidelines established by the Dean's Office or the Rectorate for this scenario and the sanitary measures that are established at that time. The Teams platform and the Virtual Campus will be used for virtual teaching, always with synchronous teaching. The tutorials, primarily by electronic means.
• Scenario 3: Virtual teaching. It will be developed through the Teams platform and the Virtual Campus, both for theoretical and practical teaching, through synchronous sessions. The tutorials only by electronic means.
In any of the possible scenarios, the USC virtual classroom will be the point of reference for the development of teaching and subject monitoring. Through the page of the course the periodic programming of the classes and the corresponding support material will be offered.
For a correct evaluation of the competences that the student must acquire studying this subject, the result obtained in a practical theoretical final test and the continuous assessment of the student's work materialized in his active participation in the programmed activities and in the accomplishment of all those works, cases, etc., proposed throughout the course. Therefore, the evaluation system in each of the examination opportunities includes two instruments:
1. INSTRUMENT: Theoretical-practical final exam of the subjects included in the program of the subject. Weighting: 50% of the final grade.
Written test composed of a theoretical part and one or more practical exercises. The first part may consist of short answer questions or test questions. This last option tries to cover a wide range of concepts taught in the subject, while the first will seek, in addition to observing what is the degree of knowledge of the subject by the student, promote their ability to transfer the concepts acquired in a ordered and synthesized to paper. The second part of the exam, of a practical nature, includes the development of many of the contents that make up the syllabus, trying to reflect the student's level of understanding of the subject.
2. INSTRUMENT: Continuous assessment. Weighting: 50% of the final grade.
Among the activities that will be valued through this second instrument will be participation in class, the resolution of proposed exercises related to the subject matter, the realization of works and tests, tutorials and assistance to classrooms, etc. All these activities will be announced in the classroom.
Any student will be able to take the final exam whether or not the activities proposed in the continuous evaluation have been carried out (point 2). In case of not doing the previous tasks, your grade will come exclusively from the final exam, opting for 50% of the grade.
The evaluation system of the students will be independent of their status as repeater or not and of the call to which they present themselves. Those students exempt from attendance by official exemption will take the exam on the official date, opting for 100% of the grade.
If fraudulent exercises or tests are detected, the "Regulation for evaluating and reviewing student academic performance" will be applied.
Evaluation of competitions
Final exam: CB1, CB2, CB3, CB4, CB5, CG1, CG5, D7, D9, D10
Continuous assessment: CB1, CB2, CB3, CB4, CB5, CT1, CT2, CT3; CT4, CT5, CT6, CT7, CT8, CT9, CT10, CT11, CT12, CT13, CT14, CT15, CT16, CT17, CT18, CT19, CT20, CT21, CT22, CT23
Classroom work:
- Teaching in a large group: 15
- Teaching in a small group: 15
- Tutoring in small groups or individualized: 10
- Other sessions with teacher: Exams and reviews: 5
Total hours classroom work in the classroom: 45
Personal work:
- Individual or group autonomous study: 30
- Preparation of practices: reading of cases, texts and articles, writing of conclusions and works: 20
- Recommended readings, activities in library or similar: 10
- Preparation of oral presentations, debates or similar: 7.5
Total hours of the student's personal work: 67.5
Students who are preparing to study this subject should have prior knowledge of analysis and financial calculation, financial management and spreadsheet management.
This subject is characterized by being closely linked to financial news and, in particular, to financial markets, to monetary policy decisions, to financial products and to the activities of well-known institutions such as banks, savings banks, credit unions, insurance companies or pension plans and funds. For this reason, learning in the subject improves considerably if the student keeps track of the information published both in the press and in different web pages that we put at your disposal. In addition, there are certain readings and basic books of interest that facilitate understanding. It is not necessary to point out that the continuous assessment method requires a weekly dedication that favors the final results of the student.
• Scenario 2: Combination of face-to-face and virtual teaching and exam, in accordance with the guidelines established by the Dean's Office or the Rectorate for this scenario and the sanitary measures that are established at that time. The Teams platform and the Virtual Campus will be used for virtual teaching, always with synchronous teaching. The tutorials, primarily by electronic means.
• Scenario 3: Virtual teaching and exam. It will be developed through the Teams platform and the Virtual Campus, both for theoretical and practical teaching, through synchronous sessions. The tutorials only by electronic means.
Jacobo Feas Vazquez
Coordinador/a- Department
- Financial Economics and Accounting
- Area
- Financial Economics and Accounting
- Phone
- 982824466
- Category
- Professor: Temporary PhD professor