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| FINA0051-1 | Banking and Insurance
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| Duration : | 30h Th |
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| Number of credits : |
| Master degree in Economics, research focus, 1st year | | 5 |
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| Master in Management Sciences, in-depth approach, 1st year | | 5 |
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| Master degree in Economics, teaching focus, 1st year | | 5 |
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| Master degree in Management, didactic approach, 1st year | | 5 |
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| Master degree in Management, professional focus in Banking and Asset Management, 1st year | | 5 |
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| Master en sciences de gestion à finalité spécialisée en digital marketing and sales management, 1st year | | 5 |
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| Master degree in Economical Sciences, Professional Focus in Economic Policies and Analysis, 1st year | | 5 |
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| Master degree in Economics, professional focus in Economics and Finance, 1st year | | 5 |
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| Master degree in Management, professional focus in Entrepreneurship, 1st year | | 5 |
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| Master degree in Management, professional focus in Financial Analysis and Audit, 1st year | | 5 |
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| Master in Management Sciences, professional Focus, 1st year | | 5 |
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| Master degree in Economics, professional focus in Economic Analysis and Public Governance, 1st year | | 5 |
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| Master degree in Management, professional focus in Human Management and Organization, 1st year | | 5 |
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| Master degree in Management, professional focus in Management, 1st year | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en marketing and strategic intelligence, 1st year | | 5 |
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| Master degree in Management, professional focus in Social Entreprise Management, 1st year | | 5 |
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| Master degree in Management, professional focus in Strategic Intelligence and Marketing, 1st year | | 5 |
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| Master degree in Economics | | 5 |
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| Lecturer : | Fabien Boniver, Georges Hübner |
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| Coordinator : | Georges Hübner |
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Language(s) of instruction :
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| English language |
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Organisation and examination :
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| Teaching in the second semester |
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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 new European supervision and regulation context, "Solvency II", is presented.
a. Lecture 1 (cf. Harrington-Niehaus ch. 1, 4, 9)
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 (cf. Harrington-Niehaus, ch. 8)
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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| The course pursues two main objectives:
- Get a global understanding of bank and insurance-related concepts.
- Develop student's analytical and deductive skills to get a critical assessment of the situation and activities of a financial institution.
This course contributes to the following Intended Learning Outcomes :
ILO-1 : To strengthen knowledge and understanding of management disciplines and its legal, policy and social context
ILO-2 : Gaining the knowledge and understanding of one of the proposed fields of concentration or to gain deep knowledge in the field of the management being already specialized thru a first University Master Degree .
ILO-6 : Ability to speak 2 foreign languages: C1 in English and B2 in one other language.
ILO-13 : Professional capacity for written communication |
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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 financial data provider). |
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Mode of delivery (face-to-face ; distance-learning) :
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| A1 Ex-cathedra courses: 6*4h = 24h
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
· assignment by groups of 2 (bonus points)
La note sera décomposée de la manière suivante:
2. Evaluation schedule:
- Written exam : during evaluation period
- group assignment: after the Easter break |
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Work placement(s) :
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Organizational remarks :
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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 Bonesire
Assistant
Department: HEC-ULg : UER / Finance
thomas.bonesire@ulg.ac.be |
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