Financial Markets and Instruments (FMI)

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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.
Session No.: CE 25.10
Deadline passed
Location: Rabat, Morocco
Date: April 14-25, 2025 (2 weeks)
Delivery Method: In-person Training
Primary Language: English

Expected to have an advanced degree in economics or finance or equivalent work experience.
Course requires heavy use of Microsoft Excel spreadsheets; participants are expected to be proficient.
Strongly recommended that applicants first complete the online Financial Market Analysis (FMAx) course.

Designed to give participants a foundation in financial instruments beyond the standard treatment of bonds and equity covered in the FMAx course.
Short review followed by coverage of forwards, futures, swaps, and options.
Combines building-block instruments with practical applications.
Devotes time for policy implications, notably related to regulation of financial markets; a separate course devoted to financial sector policies is recommended for those interested in that topic.
Lectures introduce the underlying theory; workshops and case studies allow participants to apply the knowledge and to test their understanding of how and why some strategies are used.
Highlights 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.

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.