HEC Lausanne - Microéconomie de l`intermédiation bancaire -M-

HEC Lausanne − Microéconomie de l'intermédiation bancaire −M−
Microéconomie de l'intermédiation bancaire −M−
• Enseignement: Daniela Fabbri
• 3 crédits
• 2 heures de cours hebdomadaires (Eté)
• Formation concernée: Licence/économie politique
MSE students: 4 credits / other students: 3 credits
Course given in english
Objective
This course provides an introduction to the economics of financial intermediation and banking. During the
past two decades economists developed a phletora of ideas and intuitions which shaped our understanding of
the diverse functions and pecularities of banks and financial institutions. Progress in contract theory, the
theory of the firm, and the theory of games with asymmetric information proved to be extremely helpful in
this respect. Questions such as «Why do banks exist?», «What do banks do?», «Why do market and bank
finance coexist?», «Should banks be regulated?» could be addressed with a fresh perspective and in a clear
and concise manner. During the course, we will discuss major contributions to the economics of banking,
complemented by case studies.
Contents
Introduction: What are banks? What do banks do?
Liquidity Provision and Bank Runs
Regulation of Banking
Delegated Monitoring
Banking Relationships
Market Finance vs Bank Loans
Competition in Banking: Good or Bad?
Venture Capital
IPOs
Consolidation of the Banking Industry
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HEC Lausanne − Microéconomie de l'intermédiation bancaire −M−
References
Freixas, X. and J. Rochet (1997). Microeconomics of Banking. MIT Press
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