Virtual : Financial Markets and Instruments
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Bibliographic details
- Session: JV 21.07V
- Location: Vienna, Austria
- Dates: February 22-26, 2021 (1 week)
- Delivery method: Virtual Training
- Primary language: English
- Status: Deadline passed
Training program and target audience
- 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.
- The course is presented by the Institute for Capacity Development.
Qualifications and prerequisites
- 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 description and content focus
- Purpose: To give participants a foundation in financial instruments beyond the standard treatment of bonds and equity covered in the FMAx course.
- Topics covered:
- Short review of foundational material.
- Forwards, futures, swaps, and options.
- Combining building-block instruments with practical applications.
- Policy implications related to regulation of financial markets (some time devoted), with a note that a separate course devoted to financial sector policies is recommended for those interested in that topic.
- Pedagogy:
- Lectures introduce underlying theory.
- Workshops and case studies allow participants to apply techniques and test 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.
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.
References