The Future of Finance

This 2-credit course will examine vast changes driven by innovation both from within traditional finance and from new ecosystems in fintech among others. Breathtaking advances in financial theory, big data, machine learning, artificial intelligence, computational capability, IoT, payment systems (e.g. blockchain, crypto currencies), new products (e.g. robo advising, digital lending, crowd funding, smart contracts), new trading processes (e.g. algorithmic trading, AI-driven sales & trading), and new markets (e.g. ETFs, zero-cost products), among others are changing not only how financial and non-financial firms conduct business but also how investors and supervisors view the players and the markets. We will discuss critical strategy, policy and legal issues, some resolved and others yet to be (e.g. failed business models, cyber challenges, financial warfare, fake news, bias problems, legal standing for cryptos). The course will feature perspectives from guest speakers including top finance executives and Silicon Valley entrepreneurs on up-to-the-minute challenges and opportunities in finance. Elements used in grading: Class Participation, Attendance, Final Paper. Cross-listed with Economics (ECON 152/252), Public Policy (PUBLPOL 364), Statistics (STATS 238).