Financial Markets and Instruments (FMI)

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Course No.: OT 19.21
Location: Mexico City, Mexico
Date: December 2, 2019-December 6, 2019 (1 Week)
Language: English

Target Audience:

Mid-level to senior officials in central banks, ministries of finance, and financial regulatory agencies who are interested in more advanced finance topics than those covered in the Financial Markets Analysis course.


Participants are expected to have an advanced degree in economics or finance or equivalent work experience. The course requires heavy use of Excel spreadsheets, with which participants should be proficient. It is strongly recommended that applicants have

Course Description:

This course, presented by the IMF Institute, is designed to give participants a foundation of financial instruments beyond the standard treatment of bonds and equity covered in the FMAx. After a short review, the course takes on forwards, futures, swaps, and options and moves to combining these building block instruments with practical applications. Some time is devoted to the policy implications, notably related to regulation of financial markets, though a separate course devoted to financial sector policies is recommended for those interested in more detail. Lectures introduce the underlying theory; workshops and case studies allow the participants to apply the techniques introduced and test their understanding of how and why some strategies and misuse of financial instruments can lead to large losses and financial instability. Participants will prepare final presentations on a set of predetermined current financial market issues.

Course Objectives:

Upon completion of this course, participants should be able to: Identify and use the building blocks presented to construct financial instruments. Explain the economic rationale for various financial instruments and markets. Use basic pricing models to identify possible mispricing and misuse of financial instruments. Identify threats to financial stability in markets and instruments, based on case studies of previous financial crises. Extract lessons from previous financial stability threats to try to prevent their recurrence.

Important Note for Online Courses:

For Online Learning (OL) courses, which are delivered through the edX platform, you will need an additional piece of information to register: you will be prompted for your edX.org username. If you do not already have a username, please go to https://courses.edx.org/register and sign up for a free account. Once you have created an account, you may complete the IMF Institute application. If you already have an edX account, your username can be found on the top right of the screen after logging in.

Important Note for Internal Economics Training Courses:

Internal Economics Training (IT) courses are self-financed. The IMF will not charge officials for attending courses. However, all travel, insurance, hotel, and living costs will need to be covered by the agency sponsoring the participants.