About this Course
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다음 전문 분야의 5개 강좌 중 1번째 강좌:

100% 온라인

지금 바로 시작해 나만의 일정에 따라 학습을 진행하세요.

유동적 마감일

일정에 따라 마감일을 재설정합니다.

중급 단계

완료하는 데 약 25시간 필요

권장: 6 hours/week...

영어

자막: 영어

다음 전문 분야의 5개 강좌 중 1번째 강좌:

100% 온라인

지금 바로 시작해 나만의 일정에 따라 학습을 진행하세요.

유동적 마감일

일정에 따라 마감일을 재설정합니다.

중급 단계

완료하는 데 약 25시간 필요

권장: 6 hours/week...

영어

자막: 영어

강의 계획 - 이 강좌에서 배울 내용

1
완료하는 데 4시간 필요

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 videos (Total 104 min), 6 readings, 2 quizzes
12개의 동영상
1.1. Introduction – perfect capital markets5m
1.2. Demand for the financial intermediation6m
1.3. Model of private information – key assumptions6m
1.4. Model of moral hazard14m
1.5. Co-insurance as a market solution to the moral hazard problem4m
1.6. Moral hazard in insurance (1) – a more advanced model12m
1.7. Moral hazard in insurance (2) – incomplete insurance8m
1.8. Model of adverse selection11m
1.9. Adverse selection in credit markets (1) – expected cash flows to the bank12m
1.10. Adverse selection in credit markets (2) – credit rationing8m
1.11. Moral hazard from increasing interest rates9m
6개의 읽기 자료
Konstantin Kontor10m
AIBEc. The American Institute of Business and Economics10m
Grading10m
Handouts – an important comment10m
1.1. Why do financial institutions exist?10m
1.2. Problems caused by private information10m
2개 연습문제
1 (Practice)20m
1 - Moral hazard, adverse selection, and the adventures of the greedy monopolist bank1h
2
완료하는 데 3시간 필요

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 videos (Total 50 min), 2 readings, 2 quizzes
7개의 동영상
2.2. Debt contract with liquidation (DCL) as a means of alleviation of moral hazard. The inefficiency of DCL6m
2.3. Monitoring as a universal and efficient way of overcoming unobservability5m
2.4. Multiple lenders (1) – the model8m
2.5. Multiple lenders (2) – bank contracts5m
2.6. Delegated monitoring (1) – the interaction of the parties and bank’s profit12m
2.7. Delegated monitoring (2) – banks’ vulnerability to runs5m
2개의 읽기 자료
2.1. Alleviation of moral hazard – debt and equity contracts1h
2.2. Diversification and the feasibility of delegated monitoring10m
2개 연습문제
2 (Practice)20m
2 - Debt contracts and the anatomy of bank financing1h
3
완료하는 데 3시간 필요

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 videos (Total 74 min), 2 readings, 2 quizzes
8개의 동영상
3.2. Liquidity creation (1) – the model of liquidity11m
3.3. Liquidity creation (2) – the mechanism10m
3.4. Banks’ vulnerability with respect to runs15m
3.5. Ways to fight bank runs (1) – suspension of convertibility4m
3.6. Ways to fight bank runs (2) – deposit insurance9m
3.7. Problems of deposit insurance12m
3.8. Deposit insurance and the need to regulate6m
2개의 읽기 자료
3.1. Banks – illiquid asset transformation10m
3.2. Banks – creation of liquidity and bank runs10m
2개 연습문제
3 (Practice)20m
3 - Asset transformation – “black boxes” and “red triangles”1h
4
완료하는 데 3시간 필요

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 videos (Total 78 min), 1 reading, 2 quizzes
8개의 동영상
4.2. The S&L crisis of the 1980’s. Zombie S&L’s. The sources and reasons of bank regulation8m
4.3. Bank regulation (1) – nature, goals, and importance13m
4.4. Bank regulation (2) – mechanism. The Basel Accords14m
4.5. Payment services – history, development, and technology5m
4.6. Mobile banking (1) – technology and services. Bank 3.011m
4.7. Mobile banking (2) – loans and monitoring at Bank 3.012m
4.8. Private banking. Mobile banking and traditional banking – from conflict to synergy7m
1개의 읽기 자료
4. Bank regulation and reform – an overview of articles10m
2개 연습문제
4 (Practice)20m
4 - From the Great Depression to Bank 3.01h
4.5
6개의 리뷰Chevron Right

Capital Markets and Financial Institutions – How to Survive Them의 최상위 리뷰

대학: 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.

대학: DHNov 13th 2018

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

강사

Avatar

Konstantin Kontor

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

모스크바 물리 기술원 정보

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....

AIBE(American Institute of Business and Economics) 정보

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 전문 분야 정보

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

자주 묻는 질문

  • 강좌에 등록하면 바로 모든 비디오, 테스트 및 프로그래밍 과제(해당하는 경우)에 접근할 수 있습니다. 상호 첨삭 과제는 이 세션이 시작된 경우에만 제출하고 검토할 수 있습니다. 강좌를 구매하지 않고 살펴보기만 하면 특정 과제에 접근하지 못할 수 있습니다.

  • 강좌를 등록하면 전문 분야의 모든 강좌에 접근할 수 있고 강좌를 완료하면 수료증을 취득할 수 있습니다. 전자 수료증이 성취도 페이지에 추가되며 해당 페이지에서 수료증을 인쇄하거나 LinkedIn 프로필에 수료증을 추가할 수 있습니다. 강좌 내용만 읽고 살펴보려면 해당 강좌를 무료로 청강할 수 있습니다.

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