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Course Outline 

Students will study the key fundamentals of financial markets and learn how financial markets and financial institutions work. We will discuss interest rates and their role in valuation, learn about efficient market hypothesis and exchange rate determination, explore money and capital markets, identify various players in the financial institutions industry, and take a closer look at central banking and the conduct of monetary policy. 

Course Structure 

Each week will include lectures and an exercise session on the same topic. Lectures will introduce theoretical concepts, while exercise sessions will cover theoretical and empirical exercises. The course topics include the following. 

1. Overview of the financial system.
2. Interest rates and their role in valuation.
3. The efficient market hypothesis.
4. Money market and capital market.
5. Bond, stock, and mortgage markets.
6. Foreign exchange market.
7. Banking and the management of financial institutions.
8. Mutual fund industry.
9. Central banking and the conduct of monetary policy. 

Main Instructor: Gabriela Kuvíková, Ph.D. 
Local Instructor: Ewa Stawasz-Grabowska, Ph.D. (ewa.grabowska@uni.lodz.pl) 

Course Details 

• ECTS points: 5 ECTS points (can be exchanged for crediting an elective lecture)
• Classes: March 2 – April 10, 2026
• Online lectures: Tuesday 7.45 – 9.15 a.m. CET and Wednesday 7.45 – 8.30 a.m. CET*
• Workshops with the local instructor: Wednesday 8.30 – 9.15 a.m. CET at the EkSoc Campus
• Language of instruction: English
• Grading: Weekly quizzes (60%), Final exam (40%)
• Final exam week: April 13 – 17, 2026
• Make-up exam week: April 20 – 24, 2026 

* Due to time change, after March 29, 2026 lectures will be held on Tuesdays 8.45 a.m. - 10.15 a.m. CEST and Wednesdays 8.45 a.m. - 9.30 a.m. CEST. 

Registration

Sign up until 26.02.2026: