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|Meet Day||T/Th||10:10 AM - 11:30 AM||RG-20|
|Review||F||1:10 PM - 2:30 PM||L332|
Most formal financial institutions in developing and transitional economies serve only wealthy families and large businesses. While the top of a country's economic pyramid might generate a significant share of national GDP, it excludes most families and firms. This course focuses on the promotion of more inclusive financial systems through provision of savings, payment, credit, and ancillary financial services to low-income households and family businesses, commonly referred to as microfinance and SME (small and medium enterprise) finance. It provides a multidimensional exploration of these financial services covering: effective demand of the financially excluded; sustainable supply to meet this demand, including the design and pricing of appropriate financial products as well as alternative institutional models and delivery systems for these products; and the regulatory environment necessary to enable the prudent provision of financial services for a nation's unbanked and underbanked majority. Course pedagogy consists of participatory lectures, applied case studies, and use of the virtual financial institution SymBanc(TM) to navigate dynamic simulations of real policy and operational environments.