FSM430 - Economics in the Insurance and Banking Environment

Subject Title
Economics in the Insurance and Banking Environment

Subject Description
This course comprises an overview of financial markets and institutions in the financial services industry. Developed in the framework of microeconomic and macroeconomic models, this subject will provide students with an understanding of the functions and operations of the money market, capital market, stock and mortgage markets, banks and other depository institutions, insurance companies, pension plans, finance companies, securities firms, mutual funds, and financial conglomerates. Learners incorporate previous computer skills in the preparation of graphics and other illustrations that indicate an understanding of key concepts. Pre-requisites: FSM200, LSP240 and LSP340.

Credit Status
FSM430 is a required subject in the Bachelor of Commerce Financial Services Management degree program.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Assess, from an economic perspective, the workings of financial markets and institutions
2. Understand the evolution of the financial system as it has been influenced by innovation, technology, globalization, financial crises, and deregulation
3. Analyze and anticipate changes in the financial milieu that will impinge on the insurance and banking environment
4. Critique the role and impact of the Federal Reserve and other central banks on financial markets, instruments and institutions
5. Explain the origin, structure and impact of interest rates
6. Comprehend market efficiency in terms of the relationship between prices of financial instruments, rational and adaptive expectations, the efficient market hypothesis, and the flow of funds throughout the economy
7. Analyze the operation and relationships between financial markets, including the money market, corporate and government bond markets, the stock market, and the mortgage market
8. Critique financial institutions including banks and other depository institutions, insurance companies, pension plans, finance companies, security firms, mutual funds, and financial conglomerates
9. Observe and comprehend the securities industry including the growth and role of asset-back securities and other financial derivatives, and the financial intermediaries that facilitate these markets
10. Understand the management of risks and profit by financial institutions
11. Evaluate monetary policy and changes in the modus operandi of the Federal Reserve and other central banks as they impact financial markets and the economy
12. Demonstrate computer skills through the development of graphs and illustrations
13. Demonstrate effective participation in a team-learning environment
14. Undertake professional examinations related to this subject

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecapolytechnic.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecapolytechnic.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

Camera Use and Recordings - Synchronous (Live) Classes
Synchronous (live) classes may be delivered in person, in a Flexible Learning space, or online through a Seneca web conferencing platform such as MS Teams or Zoom. Flexible Learning spaces are equipped with cameras, microphones, monitors and speakers that capture and stream instructor and student interactions, providing an in-person experience for students choosing to study online.

Students joining a live class online may be required to have a working camera in order to participate, or for certain activities (e.g. group work, assessments), and high-speed broadband access (e.g. Cable, DSL) is highly recommended. In the event students encounter circumstances that impact their ability to join the platform with their camera on, they should reach out to the professor to discuss. Live classes may be recorded and made available to students to support access to course content and promote student learning and success.

By attending live classes, students are consenting to the collection and use of their personal information for the purposes of administering the class and associated coursework. To learn more about Seneca's privacy practices, visit Privacy Notice.