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Financial Markets and Instruments (FMI)


This course, presented by the Institute for Capacity Development, is designed to give participants a foundation in financial instruments beyond the standard treatment of bonds and equity covered in the FMAx course. After a short review, the course takes on forwards, futures, swaps, and options and moves to combining these building block instruments with practical applications. Some time is devoted to the policy implications, notably related to regulation of financial markets, though a separate course devoted to financial sector policies is recommended for those interested in this topic. Lectures introduce the underlying theory, while workshops and case studies allow participants to apply the techniques introduced and test their understanding of how and why some strategies and misuse of financial instruments can lead to large losses and financial instability. Participants are expected to prepare final presentations on a set of predetermined current financial market issues.

Read More Topic : Financial Sector Policies

    Target Audience

    Mid-level to senior officials in central banks, ministries of finance, and financial regulatory agencies who are interested in more advanced finance topics than those covered in the Financial Market Analysis course.

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    Participants are expected to have an advanced degree in economics or finance or equivalent work experience. The course requires heavy use of Microsoft Excel spreadsheets, with which participants are expected to be proficient. It is strongly recommended that applicants first complete the online Financial Market Analysis (FMAx) course.

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    Course Objectives

    Upon completion of this course, participants should be able to:

    • Explain the economic rationale for various financial instruments and markets.
    • Identify and use the building blocks presented in the course to construct financial instruments.
    • Use basic pricing models to identify possible mispricing and misuse of financial instruments.
    • Identify threats to financial stability in markets and instruments based on case studies of previous financial crises.
    • Extract lessons from previous financial stability threats to try to prevent their recurrence.
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    Upcoming Offering

    Start date End date Location Session No. Primary & (Interpretation) language Apply
    August 23, 2021 August 27, 2021 Vienna, Austria JV 21.29V English Deadline passed
    August 30, 2021 September 3, 2021 Vienna, Austria JV 21.48V English Deadline passed
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    Apply Now - Application deadline approaching:

    IMF offers online training to government officials and public. Click Learn more to find our current offerings.

    Virtual : Fiscal Frameworks (FF)

    English, August 2-13, 2021, New Delhi, India

    Apply online by July 23, 2021

    Virtual : Monetary Policy (MP)

    English (French, Portuguese), August 30, 2021 - September 10, 2021, Ebene, Mauritius

    Apply online by July 23, 2021

    Virtual : External Debt Statistics

    French (English, Portuguese), July 19-23, 2021, Ebene, Mauritius

    Apply online by July 23, 2021

    Foundations of Central Bank Law (FCBLx)

    English, May 1, 2021 - August 31, 2021, Course conducted online

    Apply online by July 24, 2021

    Virtual : Monetary Policy (MP)

    English, September 20, 2021 - October 1, 2021, Singapore, Singapore

    Apply online by July 26, 2021