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 covers forwards, futures, swaps, and options and then combines these building-block instruments with practical applications. The course also devotes time for 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 knowledge and to test their understanding of how and why some strategies are used. Also highlighted is misuse of financial instruments, which can lead to large losses and financial instability. Participants are expected to prepare final presentations on a set of predetermined current financial market issues.
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.
Qualifications
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.
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.
Upcoming Offering
Start date | End date | Location | Delivery Method | Session No. | Primary & (Interpretation) language | Apply |
---|---|---|---|---|---|---|
April 14, 2025 | April 24, 2025 | Rabat, Morocco | In-person Training | CE 25.10 | English | Apply online by February 3, 2025 |
August 18, 2025 | August 29, 2025 | Vienna, Austria | In-person Training | JV 25.25 | English | Apply online by May 11, 2025 |
Central Bank Digital Currencies (CBDC)
English | February 3-7, 2025 | In-person Training | New Delhi, India
Apply online by December 2, 2024
Fiscal Frameworks (FF)
English (French, Portuguese) | January 27-30, 2025 | In-person Training | Ebene, Mauritius
Apply online by December 6, 2024
Debt Sustainability Framework for Low-Income Countries - LIC-DSF
French | January 20-25, 2025 | In-person Training | Ebene, Mauritius
Apply online by December 6, 2024
Consumer Price Index
English | January 13-17, 2025 | In-person Training | New Delhi, India
Apply online by December 7, 2024
Financial Sector Surveillance (FSS)
English | March 17-28, 2025 | In-person Training | Vienna, Austria
Apply online by December 8, 2024