Indicative Course Content
Financial Sector: Hicks-Hansen (IS/LM ) function, Product Money Equilibrium, Money
Market Equilibrium, General Equilibrium of Product and Money Market, Changes in
General Equilibrium Definition and Function of Money; Evolution of Money.
Financial Markets: Nature and Functions of Financial Markets, Money Market, Capital
Market, Distinction between Money Markets and Capital Markets, Inter-relationship
between Money Markets and Capital Markets. Primary markets and Secondary
markets. Money Market Instruments: Call money, Treasury Bills (TB), Commercial
paper (CP), Certificates of deposits (CD), Participation certificates (PC), Repo
Transactions.
Organization and Functions of Securities Market: Securities markets, Primary
markets, Secondary Markets, Capital markets and Money Markets, Currency Markets
Mortgages and Mortgage Markets: Mortgage-backed Securities, Collateralized
Mortgage Obligations
Regulatory Mechanism: Primary markets and secondary markets operations,
Trading mechanism, Settlement systems, Indices, Terminology, Investor
Protection.
Capital Market in Rwanda: Rationale for capital markets in Rwanda; Investment
alternatives Legal and regulatory framework, Functions of capital market authority,
Operations of Rwanda Securities Exchange; Floatation on securities on stock
exchange; Role of capital markets in national economy.
Financial Intermediaries: Meaning, Financial Intermediation, Process of
intermediation, Role of Financial Intermediaries, Financial Intermediation in Savings
and Investment Process.
Non-Bank Financial Intermediaries (NBFIs): Meaning, Role and functions, NBFIs and
Monetary Policy, Distinction between Banks and NBFIs.
Development Banks: Concept of Development banks, Types of Development Banks,
(Regional Banks and World Bank Group), Role in development.
- Module Team: Dr. Bhupendra Kumar