by Prof. Moshe Kim, Ph.D., University of Haifa
Recent global financial turbulence has demonstrated both how important the financial system is to the world economy and how complex it is. Financial systems are centered on key institutions, instruments and markets. But they also involve governments, public policy and regulation. They span the globe from the US, the EU and Japan to Russia, China and the Emerging Markets. In critical ways, country-level financial architectures are integrating to form a more seamless, high-performance whole. This is good for efficiency, innovation and growth, yet it also amplifies problems during times of crisis.
This course provides students with a broad understanding of (i) What is the financial system and what are the functions of financial intermediaries. (ii) How the global financial system works and what purposes it serves, (iii) What the major elements are and how they operate, and (iv) What risks and challenges the global financial system creates for individuals, business firms and policymakers.
In seeking to achieve these objectives, the course provides a perspective that helps students understand and make the most of their own professional opportunities. Along with a working knowledge of the global macro economy, foundations of finance and corporate finance, this course will be extremely helpful for students as a lens to focus on the key dimensions of the modern business environment.