BPF_TFSC The Transformation of the Financial System

Faculty of Economics and Administration
Autumn 2015
Extent and Intensity
2/0/0. 4 credit(s). Type of Completion: zk (examination).
Teacher(s)
Oleg Deev, Ph.D. (lecturer)
Ing. Dagmar Vágnerová Linnertová, Ph.D. (lecturer)
Guaranteed by
Ing. Dagmar Vágnerová Linnertová, Ph.D.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance – Faculty of Economics and Administration
Timetable
Tue 11:05–12:45 P101
Course Enrolment Limitations
The course is also offered to the students of the fields other than those the course is directly associated with.
The capacity limit for the course is 80 student(s).
Current registration and enrolment status: enrolled: 0/80, only registered: 0/80, only registered with preference (fields directly associated with the programme): 0/80
fields of study / plans the course is directly associated with
Course objectives
The main objective of the course is to acquaint students with the concept of financial system, the necessity and importance of financial transformation in the chosen emerging countries, and possibility of transformation process of the financial system to affect economic development. Students will be able to examine current issues and developments influencing the global or domestic financial sector of the economy from the historical perspective. Students should also be capable of discussing advantages and disadvantages of transformation process in the chosen emerging countries and understanding the causes and consequences of the 2007-2010 global financial crisis. The subjects of discussion in the course are chosen due to their demonstrative power to show successfulness of the transformation process of the economy in both Western and Eastern civilization models (the Czech Republic and the People’s Republic of China, respectively) along with struggling, possibly worst case scenario of the transformation (the Russian Federation).
Syllabus
  • 1. Introduction to the Course. Financial System and its Transformation: Basic Definitions and Concepts

    2. Global Financial System: Concept, Evolution and Major Institutions.

    3. Financial Crises and Its Impact on the Financial System.

    4. China’s Economic Transition: Key Factors of Economic Development, Reformation Process, Results of the Economic Transformation, Challenges for the Future.

    5. Financial System of China: Banking System, Financial Markets, Regulation and Supervision.

    6. Economic Transition of Russia: Key Factors of Economic Development, Transformation Procedures, Results of the Economic Transformation, the 1998 Financial Crisis, Challenges for the Future.

    7. Financial System of Russia: Banking System, the 1998 Banking Crisis, Financial Markets.

    8. Economic Transition of the Czech Republic.

    9. Banking System of the Czech Republic.

    10. Prague Stock Exchange: Profile, History, Rules, Trading Groups, and Exchange Indices.

    11. Capital Market of the Czech Republic: Structure, Present State, Expected Developments, and Specific Aspects.

    12. Market Regulation and Protection in the Czech Republic (SEC).

    13. Financial Management in Czech Firms: Principles and Practices.

Literature
    required literature
  • Outline of the lectures are available in the Study Materials. For the topics 1-7 essential readings will be announced at the end of each lecture.
  • MISHKIN, Frederic S. and Stanley G. EAKINS. Financial markets and institutions : global edition. 7th ed. Boston: Pearson, 2012, 663, 16. ISBN 9780273754442. info
    recommended literature
  • SVOBODA, Martin. The transformation of the financial system in the Czech Republic. 1. vyd. Brno: Masarykova univerzita, 2007, 170 s. ISBN 9788021042483. info
  • Cultivation of financial markets in the Czech Republic. Edited by Michal Mejstřík. Prague: Charles University in Prague, The Karolinum Press, 2004, 399 s. ISBN 8024609800. info
  • Russia after the global economic crisis. Edited by Anders Åslund - Sergej Maratovič Gurijev - Andrew Kuchins. Moscow: New Economic School, 2010, xv, 287. ISBN 9780881324976. info
  • ÅSLUND, Anders. How capitalism was built : the transformation of Central and Eastern Europe, Russia, the Caucasus, and Central Asia. 2nd ed. Cambridge: Cambridge University Press, 2013, xv, 423. ISBN 9781107628182. info
Teaching methods
The course is taught in lectures only, which include class discussions and require active participation. Essays improve the ability of students to summarize a certain issue in the field of transformation of the financial system and discuss it critically. Readings serve to broaden and deepen the spectrum of knowledge students acquire during the lectures.
Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams (credit tests) will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the exam (credit test) by awarding grade "F" in the Information System, and the Dean will initiate disciplinary proceedings that may result in study termination.
Assessment methods
For the successful completion of the course students are required to submit an essay on the specific topic (the list of topics is available in the Study Materials) and take a written exam (test of 20 questions or problems with multiple choices – up to 20 grade points). Exam questions are based on basic definitions and concepts discussed in the course, the analysis of developments in financial systems of Russia, China and the Czech Republic, as well as essential readings. Students will not be allowed to take an exam without submitting an essay with all the requirements fulfilled. Excellent essays would be awarded with additional grade points (up to 10).
Additional grade points (up to 10) might be also gained for the lecture participation, which means that student is actively watching, listening and answering questions as the lecture progresses. Student tries to solve the suggested example problems as the lecture proceeds and proves that he/she has learned the material by answering the related questions and working the related problems incorporated in the summative assessment.

Essay requirements:
1. An essay should express your own opinions and thoughts, based on facts or supported by experts’ opinions expressed in books, scientific articles, newspaper or magazine articles, or economic reviews (Please use materials only relevant to the topic). Quotations are obligatory and should be integrated into writing. At least five sources should be used for the writing.
2. An essay must be one page long and should be well-organized. Begin the essay with an introduction stating the aims of the essay and conclude with a summary bringing together the main issues investigated in the essay.
3. ESF official formatting requirements must be fulfilled (Times New Roman, font size of 12 points, 1.5 spacing between the lines, heading with student’s name, UČO and topic).
4. An essay should be written in English and be spell-checked, grammar-checked and personally proofread.
5. List of references is required and might be put on the second page (use generator.citace.com for its compilation).
6. Any tables and figures should be placed on the second page.
7. Essay should be submitted to the Homework Vaults by the specified deadline.
8. Non-satisfactory essays will be awarded with zero grade points. Essays with a clear structure, a good understanding of the material and originality in the approach are likely to achieve a good mark.
Language of instruction
English
Further comments (probably available only in Czech)
Study Materials
The course is taught annually.
Credit evaluation note: k = 1.
Information about innovation of course.
This course has been innovated under the project "Inovace studia ekonomických disciplín v souladu s požadavky znalostní ekonomiky (CZ.1.07/2.2.00/28.0227)" which is cofinanced by the European Social Fond and the national budget of the Czech Republic.

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The course is also listed under the following terms Autumn 2009, Spring 2010, Autumn 2010, Spring 2011, Autumn 2011, Spring 2012, Autumn 2012, Spring 2013, Autumn 2013, Spring 2014, Autumn 2014, Spring 2015, Spring 2016, Autumn 2016, Spring 2017, Autumn 2017, Spring 2018, Autumn 2018, Spring 2019, Autumn 2019, Autumn 2020.
  • Enrolment Statistics (Autumn 2015, recent)
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