(in Polish) Advanced Finance

obligatory courses

20h conversation lecture

teaching methods applied; lectures and discussion

(a) Finance: traditional and behavioral framework and its application to capital structure, asset pricing, capital budgeting, and cost of equity. (b) Interrelations and interactions among financial stability, risk and competition. Theory and empirics (including non-linearities). (c) Financial system: Efficiency, competition and industrial organization. (d) Risk, financial stability, and (micro- and macroprudential) regulation and supervision. (e) Investor protection and business conduct: Regulatory framework and its effectiveness. (f) Finance and growth: measurement, models, determinants.

(a) Allen, Gale, Understanding Financial Crises, Oxford UP 2007; (b) Cuthbertson, Nietzsche, Quantitative Financial Economics, Wiley 2004; (c) Jiang et al., Does competition affect bank risk?, NBER, 2017; artykuły dobierane na bieżąco do poszczególnych zajęć;

Knowledge: Knows and understands:

WG_1 – major methodological approaches in mainstream and heterodox finance, their theoretical framework and applications in empirical work;

WG_2 – basic building blocks of financial systems and their interactions, including regulation and risk management by financial market participants;

WG_3 – the role of financial system in the economy; the costs of financial underdevelopment and financialization;

WK_1 - fundamental problems of traditional approach to finance and the behavioral approach to their solution;

WK_2 – interactions between market and state in determining major features of financial system

Skills: Can

UW_1 - make use of knowledge from various parts of economics and finance to creatively identify, formulate complex problems in finance, and critically analyze their solutions proposed in the literature;

UW_2 - make a critical analysis and evaluation of the results of research and of the policy in the area of finance,

Skills: Is ready to:

KK_1 - critically evaluating achievements within finance and financial policy;

KK_2 - critically assessing the impact of academic research on policy and business solutions in finance.

description of requirements related to participation in classes, including the permitted number of explained absences; active participation in discussion, absences: max 2.

principles for passing the classes and the subject (including resit session); active participation in discussion, an essay (3 000-5 000 words) or a small empirical project

methods for the verification of learning outcomes: above

evaluation criteria: pass/fail

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