Campus de Paris
political game. The famous maxim : “the end justiﬁes the means” is attributed to him, even though he never put it on paper. At a closer look, Messer Niccolò appears to be less ruthless than he is usually portrayed. His life raises the issues of morality in politics. After serving as a Chancellor for the Republican government, he tried to gain favor under the princely Medici returned from exile to Florence. On a comparative level, this course will also take a glimpse to the works of his more successful friends Guicciardini and Vettori, and analyze the multifarious, high and low-brow reactions to 500-year-old Prince, one of the most inﬂuential works of political theory and practice ever written. Required reading : Niccolò MACHIAVELLI : The Discourses, The Prince, The Mandrake, Florentine Histories and Letters (excerpts from the last two).
6-Government implicit/explicit protection of banking and ﬁnancial institutions and regulations' efﬁciency 7-The European Banking Union Workload : Students are expected to read before class the indicated chapters from the textbooks : Mishkin F. S (M), The Economics of Money, Banking and Financial Markets, (9h edition, Pearson Addison Wesley, 2009) and Greenbaum & Thakor (GT), Contemporary Financial Intermediation (2nd edition, Elsevier, 2007) and from additional readings. Therefore the students should expect to spend at least 2 hours to prepare each session. Pedagogical method : Class is an opportunity for illustrating and discussing further the concepts presented in the readings and it is therefore interactive. Students will work in team (ideally 3 students) to prepare oral presentations. The topic of the presentations will mainly focus on discussing the issues related to the ongoing banking and ﬁnancial crisis. Assessment : Weekly pop quiz 20% Final Comprehensive quiz 30% Presentation 50% Course Description : This course aims at providing an understanding of the transformation at work in banking sector since the “subprime” crisis and the European sovereign debt crisis. The course will ﬁrst focus on the US banking and ﬁnancial system since the “subprimes” crisis started there with the disruption of the subprime market. It will explain the basics of banking management and the major characteristics of the US banking system speciﬁc to the US and shared by the European banking systems. A special attention will be dedicated to the Basel Accord. Basel III is fully implemented at the European level and we will discuss the merits of the changes introduced in the light of the crisis. We will also discuss the merits of the government and monetary authorities' intervention and its potential negative consequences in particular the different European rescue plan to “save” the Euro area and the European banks and to what extent the European Banking Union will overcome them. The course begins with a brief overview of the ﬁnancial system and a presentation of the nature banking activities. Explaining the basics will help students understanding the 447
MANAGEMENT OF BANKING AND FINANCIAL INSTITUTIONS
Semester : Spring Number of hours : 24 Language of tuition : English
Teachers : Nathalie JANSON (Associate Professor). Prerequisite : Macroeconomics, Money and Banking. Pedagogical format : Elective Course validation : To pass the course the student should have a clear understanding of : 1-The organization of the ﬁnancial and banking system in developed economies like US and Euro. They should have a clear view of the changes that have affected the bank's traditional business in the last 30 years. 2-The banks' management and banking risk management 3-The mortgage market, subprime market and the securitization process 4-The role played by the major banking and monetary authorities and their intervention during the crisis. 5-Bank capital regulation : the Basel II and Basel III accord