1 |
Introduction and overview of consumer financial markets - Why take this class?
- Requirements
- Substantive plan of the course
- Overview of consumer finance
| Lecture 1: Introduction (PDF - 1.2MB) |
2 |
How people should behave: economic models of household financial behavior - Underlying assumptions: diminishing marginal utility, knowledge, optimization, the effects of risk, risk aversion and portfolio choice
- Central implications: consumption smoothing, CCAPM
- Financial advising, robo-advising
| Lecture 2: Rational model (PDF - 2.1MB) |
3 |
How people do behave: behavioral biases, financial decisions, and markets - Underlying evidence: experiments, biology, psychology, evolution
- Central assumption: mistakes
- Regulation vs. competition for rents
- Profiting from mistakes vs. selling correcting products
| Lecture 3: Behavioral models (PDF) |
4 |
Financial coaching and behavioral economics Guest lecture: Katy Davis (Managing Director, ideas42)
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No notes Related white paper:  The Financial Health Check: Scalable Solutions for Financial Resilience (PDF - 4MB)
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5 |
Selling personal financial advice - Opportunities and challenges for HelloWallet
- Navigating market forces
- How to allocate resources to consumer vs. employer markets
| Lecture 5: HelloWallet (PDF) |
6 |
Risk-based pricing in consumer credit: credit cards and regulation - Overview of credit card market
- Market analysis and the failure of Citi “A deal is a deal” campaign
- Credit market collapses
| Lecture 6: Credit card markets (PDF - 1.7MB) |
7 |
Consumer insurance markets - Fundamental problems of customers
- How households manage risks
- The insurance problem
| Lecture 7: BASIX Insurance (PDF) |
8 |
Peer to peer lending - Overview and origin of the idea
- Lending Club
- Federal Securities Laws and implications
- Evolution of peer-to-peer lending
| Lecture 8: Lending Club (PDF) |
9 |
Securities backed by consumer debts Guest lecture: Joseph Naggar (Partner, GoldenTree Asset Management) - Tour of securitized products and ABS (credit cards, autos, student loans, personal loans, esoteric), CMBS, RMBS, and CLOs
- The size of the market, the participants, and importance
- How the market works: creation, distribution, liquidity
- What happened during the crisis and what the future holds
| No notes |
10 |
Fintech lending in China Guest lecture: Chen Long (Chief Strategy Officer, Ant Financial (formerly Alipay))
| No notes |
11 |
Fintech: Bitcoin and payment technologies overview and discussion - The economics and finance of money and transactions
- Are cryptocurrencies the future?
- Blockchain and public ledgers
| Lecture 11: Bitcoin and payments (PDF - 2.1MB) |
