1. Introduction
1.1.Scope of banking activity;
1.2. Control activities and regulatory requirements.
2. Financial reporting;
2.1. Accounting standards;
2.2. Financial statements;
2.3. Banking transactions;
3. Banking transactions and performance
3.1. Capital key indicators;
3.2. Profitability key performance indicators;
3.3. Other activity indicators.

The assessment process includes the following methods:
1) Continuous assessment throughout the semester;
2) Exam-based assessment.
The method referred to in 1) consists of a Midterm Exam, administered in person, except in cases provided for in the regulations, accounting for 40% of the final grade, and a Final Exam, accounting for 60% of the final grade. For each of these assessment components, the minimum grade is 7.5.
In the “Exam-Based Assessment” format, assessment takes place exclusively during the exam period and consists of a written exam covering all material taught in the course. It accounts for 100% of the final grade.

Mandatory

Banco de Portugal, RGICSF - Regime Geral das Instituições de Crédito e Sociedades Financeiras (Decreto-Lei n.º 298/92, de 31 de dezembro)., 1992.
Caiado, A. C., (2019). Bancos: Normativos, contabilidade e gestão, 2ª Edição, Lisboa: Edições Sílabo.

Optional

González, A. F. S; Pascual, J. L. (2015). Economia e Gestão Bancária, Universidade Católica Portuguesa.
Lopes, I. T. (2020). Controlo de Gestão: Uma Visão Integrada do Desempenho Empresarial, 2ª Edição, Coimbra: Edições Almedina., https://www.almedina.net/controlo-de-gest-o-1603142523.html

The abridged course syllabus is the following:
- (P1) Bounded Rationality and the Critique of the Behavioural Presuppositions of the Model of Rational Choice.
- (P2) Heuristics and Behavioural ?Anomalies? in the Individual Decision Making
- (P3) Applications of the behavioral perspective to public policies and regulation in the case of financial markets.
- (P4) General principles of financial regulation
- (P5) The Global Financial Crisis as a disruptive systemic event for the financial markets and the global banking industry
- (P6) The need for banking regulation in a post-crisis environment

The course evaluation comprises:

- individual written examination (50%)
- group work (50%)
The score of the individual written examination must be at least 8 points.

Mandatory

- Shiller, Robert J. 2000. Irrational Exuberance, Princeton, New Jersey: Princeton University Press.
- Mishkin, F.S., 2015. The Economics of Money, Banking, and Financial Markets. Eleventh edition. England: Pearson Education Limited.
- Kahneman, Daniel 2012. Thinking, fast and slow, London: Penguin.
- Casu, B, Girardone, C., and Molyneux, P., 2015. Introduction to Banking. Second edition. United Kingdom: Pearson Education Limited.
- Allen, F., and Carletti, E., 2012. The Roles of Banks in Financial Systems. In: Allen N. Berger, Philip Molyneux, and John O.S. Wilson, eds. The Oxford Handbook of Banking. Second edition. United Kingdom: Oxford University Press, pp. 27-46.

Optional

- Saunders, A., and Cornett, M.M., 2014. Financial Institutions Management: A Risk Management Approach. Sixth edition. United States of America: McGraw-Hill Higher Education.
- Hull, J.C., 2015. Risk Management and Financial Institutions. Fourth edition. United States of America: John Wiley & Sons, Inc.
- Lourenço, J.S.; Ciriolo, E.; Almeida, S.R. e Troussard, X. (2016) Behavioural Insights Applied to Policy: European Report 2016, Bruxelas, Comissão Europeia.
- Loewenstein, George; Prelec, Drazen (1992), ?Anomalies: Intertemporal Choice. Evidence and an Interpretation?, The Quarterly Journal of Economics, 107(2), 573-597.
- Leão, E., Lagoa, S., and Leão, P., 2012. Política Monetária e Mercados Financeiros. Portugal: Edições Sílabo.
- Laibson, David (1997), ?Golden Eggs and Hyperbolic Discounting?, The Quarterly Journal of Economics, 112: 443-477.
- Benartzi, Shlomo e Thaler, Richard H. (2013), ?Behavioral economics and the retirement savings crisis?, Science 339: 1152?1153.
- Benartzi, Shlomo e Thaler, Richard H. (2007), ?Heuristics and Biases in Retirement Savings Behavior?, Journal of Economic Perspectives, 21 (Summer), pp. 81?104;

1. Introduction to financial markets and institutions
2. Management of assets portfolios
3. Equilibrium models of the capital markets
4. Valuing shares
5. Monetary policy and financial markets
6. Valuing bonds
7. Financial derivatives
8. Real estate market

Students can choose between:
Assessment throughout the semester: Group Work (40%) and Frequency (60%).

Assessment by exam: the weighting of the exam is 100%.

Mandatory

Bodie, Z., Kane, A., Marcus, A. (2023), Investments, 13th Edition, Mc-GrawHill/Irwin
Damodaran, A. (2012), Investment Valuation: tools and techniques for determining the value of any asset, 3rd edition, Wiley Finance.
Leão, E., Leão, P. and Lagoa, S. (2023). Política Monetária e Mercados Financeiros. 4ª edição, Edições Sílabo.
Leão, E, Barradas, R. (2023), Mercados Financeiros: Emoção e Razão, Edições Sílabo.

Optional

Bailey, R. E. (2005). The Economics of Financial Markets. Oxford University Press.
Huang, C. and Litzenberger, R. (1988). Foundations for Financial Economics, Prentice Hall.
Mishkin, F. S., Matthews, K. and Giuliodori, M. (2013). The Economics of Money, Banking and Financial Markets. EUROPEAN EDITION. 1st edition, Pearson.
Mishkin, F. S., Eakins, S. (2018), Financial markets and institutions, 9th edition, Pearson

I. Importance and objectives of financial regulation and supervision. Conceptual definitions.
II. Structuring principles and legal sources
III. Models of financial regulation and supervision
a. Institutional, functional, integrated and twin peaks models
b. The role of central banks
c. Capture and (In)dependence and the regulator
d. Accountability
e. Liability of the Supervisor
IV. The Portuguese case
V. European Union
a. Before and after de Larosière
b. The Banking Union
i. Legal basis
ii. Structure
c. The SSM, in particular
i. Relation between EBA and EBC
ii. Relation between EBC, EBA and the NA
VI. Financial regulation
a. Types of subjects
b. Access and activity
i. Prudential regulation
ii. Conduct regulation
c. Resolution

The student assessment uses the types of exams and evaluation dates in ISCTE regulations. In terms of assessment, students will be able to choose, alternatively, between continuous assessment (consisting of oral assessment (30%) and the preparation of a mandatory assignment(70%)), and final assessment (a final exam, under the terms set by the ISCTE regulation). If the student does not have a continuous assessment, he/she will necessarily be in the final assessment.?

Mandatory

- Carlos Costa Pina - Instituições e Mercados Financeiros, Almedina, Coimbra, 2004.
- Paulo Câmara, Manuel Magalhães (coord.) O Novo Direito Bancário, Almedina, 2012.
- João Calvão da Silva - Banca, Bolsa e Seguros. Direito Europeu e Português, tomo I ? Parte Geral, 4.ª ed., Almedina, Coimbra, 2013.
- Luís Morais, Modelos de Supervisão Financeira em Portugal e no contexto da união Europeias, Banco de Portugal, 2016. https://www.bportugal.pt/sites/default/files/anexos/pdf-boletim/estudomodelosupervisao2016.pdf
- Rute Saraiva, Direito dos Mercados Financeiros, AAFDL, 2.nd ed., 2015.

Optional

- WYMEERSCH, Eddy - The Structure of Financial Supervision in Europe: About single, twin peaks and multiple financial supervisors.
- TISON, Michel - Do not attack the watchdog! Banking supervisor?s liability after Peter Paul, Ghent University, Financial Law Institute, Working Paper n.º 2005/02, 2005.
- TEIXEIRA, Pedro Gustavo - The evolution of the law and regulation of the Single European Financial Market until the crisis, In Revista de Concorrência e Regulação, A. 1, n.º 2, Abr.-Jun. 2010.
- 'Twin Peaks' Revisited... a second chance for regulatory reform, CSFI, n.º 89, 2009.
- TAYLOR, Michael ? The road from twin peaks and the way back, Connecticut Insurance Law Journal, Vol. 16, 2009.
- QUINTYN, Marc; Silvia Ramirez; Michael W. Taylor - The Fear of Freedom: Politicians and the Independence and Accountability of Financial Sector Supervisors, IMF Working Paper n.º 07/25, 2007.
- QUINTYN, Marc; Michael W. Taylor ? Regulatory and supervisory independence and financial stability, IMF Working Paper n.º 02/46, 2002.
- MASCIANDARO, Donato; Marc Quintyn; Michael Taylor - Financial Supervisory Independence and Accountability ? Exploring the Determinants, IMF Working Paper n.º 08/147, 2008.
- LASTRA, Rosa M., The Governance Structure for financial regulation and supervision in Europe, Columbia Journal of European Law, Vol. 10, 2003.
- JURKOWSKA-ZEIDLER, Anna - The role of central banks in financial supervision. The European perspective, Faculty of Law and Administration, University of Gdansk.
- HÜPKES, Eva; Marc Quintyn; Michael W. Taylor - The Accountability of Financial Sector Supervisors: Principles and Practice, IMF Working Paper n.º 05/51, 2005.
- GOODHART, Charles - The Role of Macro-Prudential Supervision, 2010.
- GIESEN, Ivo - Regulating regulators through liability. The case for applying normal tort rules to supervisors, Utrecht Law Review. Vol. 2, n.º 1, 2006.
- GARICANO, Luis; Rosa M. Lastra, Towards a new Architecture for financial stability, CEP Discussion Paper No 990, 2010.
- FERRAN, Eilis, The Reorganisation of Financial Services Supervision in the UK: An Interim Progress Report, University of Cambridge, Faculty of Law, Research Paper n.º 49/2011, 2011.
- The Rationale for a Single National Financial Services Regulator, FSA Occasional Paper n.º 2, 1999. http://www.fsa.gov.uk/pubs/occpapers/OP02.pdf
- BRIAULT, Clive, Revisiting the Rationale for a Single Financial Services Regulator, FSA Occasional Paper n.º 16, 2002.
- BENINK, Harald; George Benston - The Future of Banking Regulation in Developed Countries: Lessons from and for Europe.
- ATHANASSIOU, Phoebus - Financial sector supervisor's accountability: A European perspective, Legal Working Paper n.º 12, 2011.
- ABRAMS, Richard K.; Michael W. Taylor - Issues in the Unification of Financial Sector Supervision, IMF Working Paper n.º 00/213, 2000. http://www.imf.org/external/pubs/ft/wp/2000/wp00213.pdf

1. Fundamentals of Probability and Statistics: review
2. Correlation Analysis and Simple Linear Regression Model
3. Multiple Linear Regression Model (MLRM).
4. Specification and Structure Break Tests
5. Testing the MLRM hypotheses
6. Multiple Linear Regression Model with dummy variables.
7. Panel Data Models
8. Introduction to Time Series Models

The assessment is processed in assessment throughout the semester or assessment by exam. Assessment throughout the semester consists of group work (composed of 3 or 4 students) (40%) and a test (60%) that covers all the material and whose grade must be greater than or equal to 7.5 points. The assessment by exam consists of carrying out an exam with a weighting of 100%.

Mandatory

"Wooldridge, Jeffrey (2019) ""Introductory Econometrics: A Modern Approach"", 7th Ed, South Western Publishers. Cameron, A. Colin & Trivedi, Pravin K. (2005) ""Microeconometrics: Methods and Applications"", Cambridge University Press. Cameron, A. Colin & Trivedi, Pravin K.(2022) ""Microeconometrics using Stata"", 2nd Ed., Stata Press. Cameron, A. Colin (2015) ""Analysis of Economics Data: An Introduction to Econometrics"".

Optional

Oliveira, M.M., Aguiar, A., Carvalho, A., Martins, F.V., Mendes, V. e Portugal, P. (1997), “Econometria: Exercícios”, Schaum, McGraw-Hill de Portugal. Oliveira, M.M., Santos, L.D. e Fortuna, N. (2011), “Econometria”, Escola Editora.

The abridged course syllabus is the following:
-(P1) Financial development and economic growth. The State?s financial policy and the role of public banks
-(P2) Multiple forms of institutional arrangements associated with financial regulation
-(P3) Overall evolution of financial regulation (emphasis on banking regulation) in Europe
-(P4) BASEL III as a response to the Global Financial Crisis
-(P5) The importance of the Banking Union
-(P6) Coordination among regulatory agencies
-(P7) Excessive regulation and regulatory arbitrage, and the onset of un-regulated banking sectors (e.g., as ?shadow banking industries?)

The course evaluation comprises:

- Written examinations (70%) and
- Group essay writing assignment (30%)

Mandatory

- Moosa, I.A., 2015. Good Regulation, Bad Regulation ? The Anatomy of Financial Regulation. U.S.A.: Palgrave Macmillan.
- Leão, E., Lagoa, S., and Leão, P., 2012. Política Monetária e Mercados Financeiros. Portugal: Edições Sílabo.
- Casu, B, Girardone, C., and Molyneux, P., 2015. Introduction to Banking. Second edition. United Kingdom: Pearson Education Limited.
- Cargill, T.F., 2017. The Financial System, Financial Regulation and Central Bank Policy. United Kingdom: Cambridge University Press.
- Busch, A., 2009. Banking Regulation and Globalization. U.K.: Oxford University Press.
- Boccuzzi, G., 2016. The European Banking Union ? Supervision and Resolution. U.K.: Palgrave Macmillan.
- Allen, F., and Carletti, E., 2012. The Roles of Banks in Financial Systems. In: Allen N. Berger, Philip Molyneux, and John O.S. Wilson, eds. The Oxford Handbook of Banking. Second edition. United Kingdom: Oxford University Press, pp. 27-46.

Optional

- Mishkin, F.S., 2015. The Economics of Money, Banking, and Financial Markets. Eleventh edition. England: Pearson Education Limited.

1. From the industry to the market: measures of concentration
2. Competition and competitive advantage
3. Analysing the industry: an integration of models of analysis
4. Competition law and regulation
5. Firms´ boundaries and goals
5.1. Productive efficiency
5.2. Vertical integration
5.3. Product diversification
5.4. Incentives and agency
5.5. Mergers and acquisitions
6. Industries, the business cycle and the stock market
7. Analysis of key industries of the Portuguese and European economy

Assessment Throughout the Semester:
Test: 60%
Group Work (Presentation and Discussion): 40%
Approval requires an average equal to or higher than 9,5 points

Assessment Through Exam:
Exam (First Season) Exam (Second Season): 100%
Approval requires a grade equal to or higher than 9,5 points

Mandatory

Dranove, D.; Besanko, D.; Shanley, M.; e Schaefer, S. (2017). Economics of Strategy. 7th Edition. New York: Wiley.

Bodie, Z.; Kane, A.; e Marcus, A. J. (2018). Investments. 11th Edition. New York: Mc-GrawHill.

Leão, E.; e Barradas, R. (2023). Mercados Financeiros - Emoção e Razão. Lisboa: Edições Sílabo.

Optional

Banco de Portugal. (2010). "Estrutura e Dinâmica das Sociedades não Financeiras em Portugal". Estudos da Central de Balanços. Dezembro.

Caraça, J.; Lundvall, B. A.; e Mendonça, S. (2009). "The Changing Role of Science in the Innovation Process: From Queen to Cinderella?". Technological Forecasting and Social Change. 76: 861-867.

Carlton, D. W.; and Perloff, J. M. (2004). Modern Industrial Organization. Fourth Edition. Pearson

Klepper, S. (1997). "Industry Life Cycles". Industrial and Corporate Change. 6 (1): 145-81.

Malerba, F. (2006). "Sectoral Systems: How and Why Innovation Differs Across Sectors". The Oxford Handbook of Innovation, Oxford University Press.

Mata, J. (2012). Economia da Empresa. Fundação Calouste Gulbenkian.

Leão, P. (2011). Economia dos Mercados e da Empresa. Escolar Editora.

Relatórios Sectoriais da Economist Intelligence Unit.

1. Business cycles regularities
2. Goods market equilibrium
3. The Central bank and the monetary policy rule
4. Inflation, unemployment, and aggregate supply
5. Macroeconomic equilibrium
6. Conventional and unconventional monetary policy in the AD-AS model
7. Fiscal policy in the AD-AS model
8. Financial crises

The student can choose between two of the following options
Evaluation throughout the semester:
1. Midterm test: 50% of the final grade
2. Final test: 50% of the final grade
Final grade = [0 , 20], approval granted if the final grade is >= 10.
Final Exam:
Final grade = [0 , 20], approval granted if the final grade is >= 10.

Mandatory

Sørensen, P. B. and Whitta-Jacobsen, H. J. (2010). Introducing Advanced Macroeconomics: Growth and Business Cycles, 2 ed., McGraw-Hill, New York.
Burda, , M., & Wyplosz, C. (2017). Macroeconomics: a European text. 7th Edition, Oxford University Press.

Optional

Mishkin, F. S.(2014), Macroeconomics: Policy and Practice, 2nd Edition, Pearson, Addison-Wesley, New York.

1. Financial Risk Management
(a) Introduction
(b) Measurement of return, risk, and correlations
(c) Distribution of risk
(d) Risk modelling and validation

2. Risk of Different Assets
(a) Equity and portfolios
(b) Interest rate
(c) Liquidity risk

3. Derivative Financial Products
(a) Risk management with derivatives
(b) Linear derivatives: Futures and Forwards
(c) Swaps
(d) Non-linear derivatives: Options

4. Value at Risk (VaR)
(a) Parametric VaR
(b) Historical simulation
(c) VaR of portfolios
(d) Alternative measures to VaR

5. Regulatory Framework
(a) Standardized Approach
(b) Internal Models Approach

Continuous evaluation consisting of a group assignment (40%) and final exam (60%), or only final exam (100%).

Mandatory

Alexander, Carol, Market Risk Analysis Vol IV: Value at Risk Models, 2009, Wiley,
Hull, John, Risk Management and Financial Institutions, 2023, 6th edition, Wiley,

Optional

Alexander, Carol, Market Risk Analysis Vol III: Value Pricing, Hedging and Trading Financial Instruments, 2008, Wiley,
Basel Committee on Banking Supervision, Basel II: International Convergence of Capital Measurement and Capital Standards: A Revised Framework, 2006 (https://www.bis.org/publ/bcbs128.htm)
Basel Committee on Banking Supervision, Basel III: Finanlising post-crisis reforms, 2017 (https://www.bis.org/bcbs/publ/d424.htm)
Basel Committee on Banking Supervision, High-level summary of Basel III reforms, 2017 (https://www.bis.org/bcbs/publ/d424_hlsummary.pdf)

1. Classification of financial institutions
2. Financial markets and banks
3. Introduction to the main risks and interest rate risk
4. Credit Risk
5. FInancial analysis and risk of banks
6. Loans sales and securitisation

Students can choose between:

Assessment throughout the semester: Test 60%+ Team work 40%
Evaluation in final exam: 100% of the exam grade.

Mandatory

Saunders, Anthony and Cornett, Marcia (2021), Financial Institutions Management: A Risk Management Approach, 10.ª edição, McGraw-Hill.

Optional

Armour, John, Awrey, Dan, Davies, Paul, Enriques, Luca, Gordon, Jeffrey N., Mayer, Colin, and Payne, Jennifer (2016), Principles of Financial Regulation, Oxford University Press.
Basel Committee on Banking Supervision (2011), Basel III: A global regulatory framework for more resilient banks and banking systems, Bank for International Settlements.
Basel Committee on Banking Supervision (2017), Basel III: Finalising post-crisis reforms, Bank for International Settlements.
Bessis, Joel (2015), Risk Management in Banking, 4th Edition, John Wiley & Sons.
Casu, Barbara, Girardone, Claudia, Molyneux, Philip (2021), Introduction to Banking, 3rd edition, Pearson.
European Central Bank (2011). The Monetary Policy of the ECB, ECB
Golub, B. W. and Crum, C. C. (2010), Risk Management Lessons Worth Remembering from the Credit Crisis of 2007-2009, The Journal of Portfolio Management, 21-44.
Hull, John (2023), Risk Management and Financial Institutions, Prentice Hall, 6th edition.
Leão, E., Leão, P. and Lagoa, S. (2023), Política Monetária e Mercados Financeiros, Edições Sílabo, 4.ª Edição.
Matthews, Kent; and John Thompson (2014), The Economics of Banking, 3rd Edition, John Wiley & Sons, Ltd.
Mishkin, F. S., Matthews, K. and Giuliodori, M. (2013). The Economics of Money, Banking and Financial Markets, European Edition, Pearson.