At the end of the course, student should be able to:
Overview of financial markets (Primary markets, Secondary markets, Market size, Transaction costs). The function of financial Markets: The raising of capital, the transfer of risk, price discovery. Global transactions with integration of financial markets, transfer of liquidity, international trade. Commercial banks and other financial intermediaries: financial intermediaries (banks, building societies, credit unions, financial advisers (brokers), insurance companies, collective investment schemes, pension funds. The role of financial intermediaries in the economy, capital formation, liquidity, maturity transformation, risk transformation, convenience denomination.