This is an introductory course on the financial institutions which underpin the modern economic system. It is designed to give students a broad overview of the suite of financial technologies and organizations which have enabled the vast expansion of human welfare over the past 55 centuries without resorting to mathematical proofs of their efficacy. In this course, students will learn about why institutions evolved the way that they did in different parts of the world and will be introduced to some of the recent innovations in each area including blockchains, microfinance, high frequency trading, and NDC pension systems. This is a course about why, not how, and will include regular classroom discussions regarding some of the issues surrounding the way we organize financial institutions. Not eligible for CR/NCR option. This course is open to both Commerce and non-Commerce students.
BR=None. (For BBA students at UTSC, RSM courses typically count as MGT.)
Exclusion: RSM295Y0 Special Topics: History and Design of Financial Institutions in any other location.
RSM295Y0 Course Outline
Field Trips: The course includes a two-day trip to Rome, with visits to the EU Headquarters and the Bank of Italy’s Banknote Museum. Students will also stay in Venice for two days to visit numerous historical sites related to the course. The cost of these field trips is CAD$1,035, paid to U of T for overnight accommodation in Rome and Venice, entrance fees, guides and return bus transportation.
Instructor: William Huggins is an award winning instructor from the University of Toronto where he has taught since 2008 covering courses in financial markets, corporate finance, investments, macroeconomics, and statistics. Since 2013 he has led Summer Abroad courses on financial history in Italy, Germany, China, and England. He is deeply interested in the intersection of finance, geopolitics, and demography as well as ethical issues related to the design of financial institutions.
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