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Banking Theory
Instructor: Xavier Freixas The objectives of this course are: - To understand the role of imperfect information and the role of financial institutions in the economy - To understand the specifics of banking - To understand bank runs Basic Textbook Freixas, X. and Rochet, J.C., Microeconomics of Banking. MIT Press, 1997 and unpublished notes for the second edition. Selected Topics: • Why do financial intermediaries exist? (J.C. Rochet) • The industrial organization approach (J.C. Rochet) • The borrower-lender contract in asymmetric information • Macroeconomic consequences of financial intermediation • Individual bank runs and systematic risk Xavier FREIXAS (Ph D. Toulouse 1978) is Dean of the Undergraduate School of Economics and Business Administration and Professor at the Universitat Pompeu Fabra and Research Fellow at CEPR. He is Chairman of the Risk Based Regulation Program of the Global Association of Risk Professionals (GARP) and past president of the European Finance Association. He has previously been Deutsche Bank Professor of European Financial Integration at Oxford University, Houblon Norman Senior Fellow of the Bank of England and Joint Executive Director Fundación de Estudios de Economía Aplicada FEDEA), and 1989-91, Professor at Montpellier and at Toulouse Universities. He has been a consultant for the European Investment Bank, the New York Fed, the European Central Bank, the World Bank, the Interamerican Development Bank, MEFF and the European Investment Bank. He is Associate Editor of Journal of Financial Intermediation, Review of Finance, Journal of Banking and Finance and Journal of Financial Services Research. He has published a number of papers in the main economic and finance journals (Journal of Financial Economics, Review of Financial Studies, Econometrica, Journal of Political Economy, …). Professor Freixas is known for his research work in the banking area as well as for his book Microeconomics of Banking (MIT Press, 1997), co-authored with Jean-Charles Rochet. For more information, please see Xavier Freixas | 
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