Financial Development and Financial Inclusion from edX

This course was developed by the IMF in collaboration with the European Investment Bank.

Higher rates of financial inclusion and financial market development mean more prosperous societies.

But how to make it all happen?

This course outlines common ways countries develop robust financial sectors – from banks to equity markets.

We’ll teach you how to read indicators that gauge financial development and financial inclusion – and how to measure its distinct macroeconomic impact.

And you’ll understand the relationship between financial inclusion and banks and capital markets… small and medium-sized enterprises… households… and the fast-changing world of fintech.

Plus we’ll explore what policies and strategies are best to encourage financial development --while also limiting risks.

Join us to learn how financial sectors can be more expansive and more inclusive.

The IMF’s online learning program receives financial support from the Government of Japan.

What you'll learn

Identify a framework for financialmarket development and financial inclusion, and why they matter for economic growth and development.
Measure the degree of financial development and inclusion for a country or countries using a wide range of standard indicators and use benchmarking to compare a country to its peers.
Identify strategies and policies to support the development of financial intermediaries and capital markets in a country, considering initial conditions and links between the financial sector and the macroeconomy.
Understand the unique challenges SMEs face accessing finance. Describe how financial intermediaries can better tailor their products to the needs of the SMEs.
Provide standard methodologies for managing risks associated with SME lending. Evaluate how government policies can improve the lending environment for SMEs and understand the role of state banks and MDBs, including their role in mitigating risks.
Evaluate the benefits and costs of different financial inclusion policies and identify strategies to promote financial inclusion for households and micro-enterprises.
Understand various uses of technology in the financial sector(Fintech) and how they couldbe used to improve the efficiency and inclusiveness of financial services without generating financial instability.

What's inside

Learning objectives

Identify a framework for financialmarket development and financial inclusion, and why they matter for economic growth and development.
Measure the degree of financial development and inclusion for a country or countries using a wide range of standard indicators and use benchmarking to compare a country to its peers.
Identify strategies and policies to support the development of financial intermediaries and capital markets in a country, considering initial conditions and links between the financial sector and the macroeconomy.
Understand the unique challenges smes face accessing finance. describe how financial intermediaries can better tailor their products to the needs of the smes.

Provide standard methodologies for managing risks associated with sme lending. evaluate how government policies can improve the lending environment for smes and understand the role of state banks and mdbs, including their role in mitigating risks.
Evaluate the benefits and costs of different financial inclusion policies and identify strategies to promote financial inclusion for households and micro-enterprises.
Understand various uses of technology in the financial sector(fintech) and how they couldbe used to improve the efficiency and inclusiveness of financial services without generating financial instability.

Identify a framework for financialmarket development and financial inclusion, and why they matter for economic growth and development.
Measure the degree of financial development and inclusion for a country or countries using a wide range of standard indicators and use benchmarking to compare a country to its peers.
Identify strategies and policies to support the development of financial intermediaries and capital markets in a country, considering initial conditions and links between the financial sector and the macroeconomy.
Understand the unique challenges smes face accessing finance. describe how financial intermediaries can better tailor their products to the needs of the smes.
Provide standard methodologies for managing risks associated with sme lending. evaluate how government policies can improve the lending environment for smes and understand the role of state banks and mdbs, including their role in mitigating risks.
Evaluate the benefits and costs of different financial inclusion policies and identify strategies to promote financial inclusion for households and micro-enterprises.
Understand various uses of technology in the financial sector(fintech) and how they couldbe used to improve the efficiency and inclusiveness of financial services without generating financial instability.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Suitable for individuals interested in financial development, financial inclusion, and their impact on economic growth and development

Taught by experts from the IMF and the European Investment Bank, who are recognized for their work in the field of financial development

Provides a comprehensive framework for understanding financial market development and financial inclusion

Covers key strategies and policies for promoting financial development and financial inclusion

Examines the unique challenges faced by SMEs in accessing finance and provides practical solutions for addressing them

Explores the potential of financial technology (Fintech) in enhancing financial efficiency and inclusiveness

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Financial Development and Financial Inclusion with these activities:

Complete tutorials on key financial concepts

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Taking the time to work through these tutorials will give you an introduction to many of the concepts and theories that will be discussed in this course.

Browse courses on Financial Markets

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Find tutorials on key financial concepts
Watch the tutorials and take notes
Complete the practice exercises

Review financial mathematics

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Completing this refresher will help you deepen your understanding of the math required to understand the material in this course and excel.

Browse courses on Financial Mathematics

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Review the basics of probability and statistics
Practice solving problems in financial mathematics
Take a practice quiz to test your understanding

Read 'Financial Development and Economic Growth' by Aslı Demirgüç-Kunt and Ross Levine

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This book provides a comprehensive overview of the relationship between financial development and economic growth. Reading it will give you a strong foundation for the concepts that will be discussed in this course.

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Read the book thoroughly
Take notes on the key concepts

Four other activities

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Solve practice problems on financial development and inclusion

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Solving practice problems will help you master the concepts of financial development and inclusion and prepare you for the assessments in this course.

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Find practice problems on financial development and inclusion
Solve the problems and check your answers
Review your mistakes and learn from them

Attend a workshop on financial development or inclusion

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Attending a workshop will give you an opportunity to learn from experts in the field and network with other professionals.

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Find a workshop that interests you
Register for the workshop
Attend the workshop and take notes

Mentor other students in the course

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Mentoring other students will help you solidify your understanding of the course material and improve your communication skills.

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Find a student who needs help
Meet with the student regularly to discuss the course material
Answer the student's questions and help them understand the concepts

Contribute to an open source project related to financial development or inclusion

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Contributing to an open source project will give you hands-on experience with financial development or inclusion and help you build your professional network.

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Find an open source project that interests you
Join the project's community and learn about the codebase
Make a contribution to the project

Career center

Learners who complete Financial Development and Financial Inclusion will develop knowledge and skills that may be useful to these careers:

Financial Analyst

Financial Analysts provide advice to businesses and individuals, and they may also work for investment banks, hedge funds, or other financial institutions. They help companies raise capital, make investment decisions, and manage their finances. This course will help you build a foundation in financial development and financial inclusion, which are important concepts for Financial Analysts to understand. The course will also teach you how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Financial Analyst

Investment Banker

Investment Bankers help companies and governments raise money by selling securities. They also provide advice on mergers and acquisitions, and other financial transactions. This course will help you build a foundation in financial development and financial inclusion, which are important concepts for Investment Bankers to understand. The course will also teach you how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Investment Banker

Portfolio Manager

Portfolio Managers manage investments for individuals and institutions. They make decisions about which investments to buy and sell, and they monitor the performance of their portfolios. This course will help to build a foundation in financial development and financial inclusion, which are important concepts for Portfolio Managers to understand. The course will also teach you how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Portfolio Manager

Risk Manager

Risk Managers identify and assess risks to a company's financial health. They also develop and implement strategies to mitigate these risks. This course will help to build a foundation in financial development and financial inclusion, which are important concepts for Risk Managers to understand. The course will also teach you how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Risk Manager

Financial Planner

Financial Planners help individuals and families plan for their financial futures. They provide advice on investments, retirement planning, and estate planning. This course will help to build a foundation in financial development and financial inclusion, which are important concepts for Financial Planners to understand. The course will also teach you how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Financial Planner

Commercial Banker

Commercial Bankers provide financial services to businesses. They make loans, provide lines of credit, and offer other financial products and services. This course will help to build a foundation in financial development and financial inclusion, which are important concepts for Commercial Bankers to understand. The course will also teach you how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Commercial Banker

Consultant

Consultants provide advice to businesses and organizations on a variety of topics, including financial development and financial inclusion. This course will help you to build a foundation in these important concepts, and it will also teach you how to identify strategies and policies to support the development of financial intermediaries and capital markets. This course may also be helpful for Consultants who work in other areas, such as management consulting or IT consulting.

See salaries and explore the career path for Consultant

Economist

Economists study the production, distribution, and consumption of goods and services. They may work for government agencies, businesses, or research institutions. This course will help you to build a foundation in financial development and financial inclusion, which are important concepts for Economists to understand. The course will also teach you how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Economist

Financial Advisor

Financial Advisors help individuals and families plan for their financial futures. They provide advice on investments, retirement planning, and estate planning. This course will help you to build a foundation in financial development and financial inclusion, which are important concepts for Financial Advisors to understand. The course will also teach you how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Financial Advisor

Financial Risk Analyst

Financial Risk Analysts identify, measure, and manage financial risks. They may work for banks, insurance companies, or other financial institutions. This course will help you to build a foundation in financial development and financial inclusion, which are important concepts for Financial Risk Analysts to understand. The course will also teach you how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Financial Risk Analyst

Market Research Analyst

Market Research Analysts collect and analyze data on consumer behavior. They may work for businesses, marketing firms, or government agencies. This course will help to build a foundation in financial development and financial inclusion, which are important concepts for Market Research Analysts to understand. The course will also provide you with an understanding of how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Market Research Analyst

Policy Analyst

Policy Analysts research and analyze public policy issues. They may work for government agencies, think tanks, or advocacy groups. This course will help you to build a foundation in financial development and financial inclusion, which are important concepts for Policy Analysts to understand. The course will also teach you how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Policy Analyst

Quantitative Analyst

Quantitative Analysts use mathematical and statistical methods to analyze financial data. They may work for banks, hedge funds, or other financial institutions. This course will help to build a foundation in financial development and financial inclusion, which are important concepts for Quantitative Analysts to understand. The course will also teach you how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Quantitative Analyst

Research Analyst

Research Analysts provide research and analysis on companies and industries. They may work for investment banks, brokerage firms, or other financial institutions. This course will help you to build a foundation in financial development and financial inclusion, which are important concepts for Research Analysts to understand. The course will also teach you how to measure the degree of financial development and inclusion for a country or countries, and how to identify strategies and policies to support the development of financial intermediaries and capital markets.

See salaries and explore the career path for Research Analyst

Software Engineer

Software Engineers design, develop, and maintain software applications. While they may not work directly in the financial sector, the course may be useful for those who wish to develop software applications for the financial industry.

See salaries and explore the career path for Software Engineer

Financial Development and Financial Inclusion

What you'll learn

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