Campus Europe-Asie, Le Havre
the basic elements of constitutions ? What are constitutions intended to protect or make possible ? What theories have inﬂuenced the framers of constitutions ? What is the process by which States draft and amend constitutions ? What are the different types of government ? How can one deﬁne majoritarian or self-governing democracy ? Representative or direct democracy ? How does the separation of powers inﬂuence institutional design ? What is the actual debate confronting “presidentialism” versus “parliamentarism” ? How is contemporary institutional design affected by innovative mechanisms tending to strengthen transparency, accountability, direct participation, and deliberation, as well as the regulation of fourth branches ? Process of constitutional implementation : Building on the principles examined in the ﬁrst section, the second part of the course focuses on the difﬁcult implementation of constitutionalism in France. We will examine French constitutional history in detail as it represents substantially all the species of constitutional regimes that have yet been developed (constitutional monarchy, assembly regime, directorate, consulate, empire, parliamentary regime, presidential regime, “semipresidential” regime). The reasons for the success or failure of each attempted regime in France will serve as guidelines to the analysis of the regimes discussed in part 3. Particularities of contemporary institutional design : This last section examines the design of classical presidential (United States and Brazil) and parliamentary (Great Britain, India, Germany, Spain, and Israel) regimes, as well as the emergence and evolution of consociations (Switzerland, Belgium, Lebanon, Bosnia, European Union). Required reading : Michel Troper. 2012. ‘Sovereignty'. The Oxford Handbook of Comparative Constitutional Law. 350-368.
Pedagogical format : Seminar Pedagogical method : To qualify the student needs to understand the role played by the money market and the Central Bank in the ﬁnancial system especially since central bank monetary policy meetings are attracting so much attention (maybe too much…). She or he should clearly identify the different instruments traded in this market distinguishing them from those traded in the capital markets and being able to grasp the concept of interest rate risk. Moreover she or he should have a clear understanding of the banking industry activity and other ﬁnancial institutions activity. Course Description : The course Financial Markets and Institutions is designed to familiarize students with some of the ﬁnancial instruments and institutions. A standard course in Money and Capital Markets or in Financial Markets and Institutions usually covers most of the following topics : overview of the ﬁnancial system, interest rates (term structure and yield curve), the markets (mainly money market and capital market), central banking and monetary policy, the institutions (commercial banking and other ﬁnancial institutions) and, ﬁnally, the international ﬁnancial system. The scope of this 24-hour primer is more limited, however. Twelve lectures of two hours each will be devoted to two main topics : an overview of some of the most important ﬁnancial institutions and an examination of the money market, the main short-term ﬁnancial market and an introduction to the term structure of interest rates and bond and stock markets focusing on the US given their dominant position in ﬁnancial markets and comparing with Europe. Given the ﬁnancial markets recent troubles the course will show how the different segments of the ﬁnancial markets are intertwined and linked with the banking system. It will emphasize on the growing role of central banks in stabilizing the markets. The course objective is twofold : on the one hand, its goal is to assist students to understand why and how ﬁnancial institutions are performing certain functions and why money markets facilitate ﬁnancial intermediaries' transactions. For markets and institutions