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| FINA0051-1 | Banking and Insurance
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| Duration : | 30h Th |
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| Number of credits : |
| Master in Economical Sciences, in-depth approach, 1st year | | Second semester | | 5 |
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| Master in Management Sciences, in-depth approach, 1st year | | Second semester | | 5 |
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| Master in Economical Sciences, didactic approach, 1st year | | Second semester | | 5 |
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| Master in Management Sciences, didactic approach, 1st year | | Second semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en banking and asset management, 1st year | | Second semester | | 5 |
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| Master in Economical Sciences, Professional Focus in Economic Policies and Analysis, 1st year | | Second semester | | 5 |
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| Master en sciences économiques,orientation générale, à finalité spécialisée en economics and finance, 1st year | | Second semester | | 5 |
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| Master in Management Sciences, professional Focus in Entrepreneurship, 1st year | | Second semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en financial analysis and audit, 1st year | | Second semester | | 5 |
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| Master in Management Sciences, professional Focus, 1st year | | Second semester | | 5 |
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| Master en sciences économiques, orientation générale, à finalité spécialisée en economic analysis and public governance, 1st year | | Second semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en management humain et organisation, 1st year | | Second semester | | 5 |
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| Master in management Sciences, professional focus in management, 1st year | | Second semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en marketing and strategic intelligence, 1st year | | Second semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en management des entreprises sociales, 1st year | | Second semester | | 5 |
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| Master degree in management Sciences, professional focus on Strategic Intelligence and Marketing, 1st year | | Second semester | | 5 |
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| Lecturer : | Fabien Boniver, Georges Hübner |
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| Coordinator : | André Rochez |
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Language(s) of instruction :
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| English language |
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Course contents :
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| 1. Partim Banking:
The course introduces the general activities of a financial institution, with a focus on the bank's role as a financial intermediary. The Bank's balance sheet structure is analysed in detail, with the specificities of the bank's objectives and constraints. The recent crises of 2008 and 2010-11 will be analysed with their impact on the evolution of the banking industry. The first elements of bank risk management will be introduced.
Content :
a. Lecture 1
i. Part A: Introduction to banking (Rose ch. 1,2,3)
ii. Part B: Financial structure (Rose ch. 5)
b. Lecture 2
i. Part A: Neo-classic theory of banking
ii. Part B: The management of capital (Rose ch.15)
c. Lecture 3
i. Part A: Measuring and evaluating performance (Rose ch. 6)
ii. Part B: Risk management for changing interest rates. ALM and duration techniques (Rose ch. 7)
2. Partim Insurance:
The course introduces the notion of insurance as it is considered by its different stakeholders: the consumer and society, the insurer himself, the surrounding economical actors and institutions. The inverted production cycle of the insurance business is emphasized, and basic actuarial mechanisms for pricing and provisioning are exposed. Finally, the current European supervision and regulation context, "Solvency II" is presented.
a. Lecture 1
i. Risk: definitions, classification, cost
ii. Insurance: a form of risk management
iii. Key facts about the European insurance market
iv. Some remarks on insurance availability and behaviours
b. Lecture 2
i. The inverted production cycle
ii. Cartography of an insurer activities and value creation
iii. Introduction to tariffs
iv. Introduction to reserves
c. Lecture 3
i. The need for prudential supervision and regulation
ii. Solvency I
iii. Towards Solvency II
iv. Some institutional actors |
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Learning outcomes of the course :
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| -Global understanding of bank and insurance-related concepts.
-Application of theoretical concepts during exercises sessions.
-Development of student's analytical and deductive skills. |
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Prerequisites and co-requisites/ Recommended optional programme components :
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| Introductory course of financial markets. |
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Planned learning activities and teaching methods :
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| Methodology used and level of estimated method:
- Ex-cathedra courses: theoretical sessions (preliminary review, introduction of theoretical concepts, case study...).
- Exercises sessions on Excel and Matlab, practical issues are handled (use of Bloomberg). |
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Mode of delivery (face-to-face ; distance-learning) :
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| A1 Ex-cathedra courses: 7*4h = 28h
A1 Course study: 15h
A3 Exercises: 4h |
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Recommended or required readings :
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| Powerpoint presentations (available on the university's website).
Banking: "Bank Management & Financial Services (8th Ed)" Peter S. Rose, Sylvia C. Hudgins
Insurance:" Risk Management and Insurance (2nd Ed)" Harrington and Niehaus
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Assessment methods and criteria :
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| 1. Evaluation tools and criteria:
The grade will be decomposed as follows:
- 50% exam - banking
- 50% exam - insurance
2. Evaluation schedule:
- Written exam : during evaluation period |
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Contacts :
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| Georges Hübner
Professor
Department: HEC-ULg : UER / Finance
G.Hubner@ulg.ac.be
Fabien Boniver
Invited Professor
Department: HEC-ULg : UER / Finance
F.Boniver@ulg.ac.be
Thomas Lejeune
Assistant
Department: HEC-ULg : UER / Finance
tlejeune@ulg.ac.be |
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