Financial Systems Syllabus

Topics: Economics, Bank, Capitalism Pages: 9 (2306 words) Published: November 29, 2014

The Financial System
MULT- UB.0027.01

Integrating Global Economics, Politics and Markets
In a Historical and Contemporary Context

Fall 2014Profs. Roy C. Smith and Ingo Walter
M-W 11:00 – 12.15T/A: Ryan Lloyd, Room: 5-90
Course Description:
Recent global financial turbulence has demonstrated both how important the financial system is to the world economy and how complex it is. Financial systems are centered on key institutions, instruments and markets. But they also involve governments, public policy and regulation. They span the globe from the US, the EU and Japan to Russia, China and the Emerging Markets. In critical ways, country-level financial architectures are integrating to form a more seamless, high-performance whole. This is good for efficiency, innovation and growth, yet it also amplifies problems during times of crisis. This course provides students with a broad understanding of (i) How the global financial system works and what purposes it serves, (ii) What the major elements are and how they operate, and (iii) What risks and challenges the global financial system creates for individuals, business firms and policymakers. In seeking to achieve these objectives, the course provides a perspective that helps students understand and make the most of their own professional opportunities. Along with a working knowledge of the global macroeconomy, foundations of finance and corporate finance, this course will be extremely helpful for students as a lens to focus on the key dimensions of the modern business environment.

Roy C. Smith is Kenneth Langone Professor of Finance and Entrepreneurship and a former partner of Goldman, Sachs & Co. and President of Goldman Sachs International. (rsmith@stern, Ingo Walter is Seymour Milstein Professor of Finance, Corporate Governance and Ethics. ( Course Requirements:

The course requires three individually authored 1,000-word “Op-eds” submitted by each student during the semester. No group work is allowed. There can be no use of material from other sources without quotation marks, and with careful footnoting and attribution to avoid questions of plagiarism. The two best grades of the three submissions will be counted toward the final grade. There are also closed-book, rigorous mid-term and final examinations. Class Participation:

We like to teach with lots of classroom discussion, and we value initiatives taken by individual students to research things that are of interest to them and bring them up in class. At the instructors’ discretion, a student’s grade may be improved by as much as 10% due to class participation. Attendance and Use of Laptops

Students are expected to attend every class and to arrive on time. Failure to follow these instructions can result in a negative class participation grade. Laptops and other electronic devices may not be used in class. Blog:

We have recently launched at blog where we give our views on current topics of interest relating to global banking and financial markets. In many cases the topics will be relevant to this course. So please check out "Banks and Markets: Seasoned perspectives on financial firms and markets" at Grading:

At NYU Stern, we strive to create courses that challenge students intellectually and that meet the Stern standards of academic excellence. To ensure fairness and clarity of grading, the Stern faculty has agreed that for elective courses the individual instructor or department is responsible for determining reasonable grading guidelines. The grading weights for this course (prior to consideration of class participation) are as follows: Op-eds (2)20%

Midterm exam 40%
Final exam40%

The Stern Finance Department has elected to use the following grading guidelines for this course and all other elective courses. Instructors must award grades of “A” or “A-” to approximately 35% of...
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