In the last decade, the introduction of smartphones combined with key developments in cryptography and artificial intelligence has revolutionized the way every finance function – from payments to credit, equity financing to asset management – is performed. This course will walk students through the challenges and the opportunities new technologies offer, as well as the new regulatory problems they raise. The course will focus on 1) how blockchain is changing the way payment and trading take place; 2) how AI is changing the credit and banking market; and 3) how roboadvising is changing the asset management industry.

Workload: This class is taught as an advanced class. It will move at a relatively fast pace, so it will be imperative that you keep up with the readings.

Class Meets Summer 2023:  8/14, 8/15, 8/16, 8/18, 8/19

• No non-Booth Students

Individual Write-Up: 30%. You are required to submit individual memos for at least 3 of the 5 cases. The submission is individual even if the work can be done in groups.

Participation: 35%. All students are expected to attend class and participate in class discussions on a regular basis. All students should be prepared to informally present answers to write-up questions in class.

Final Exam: 35%. There will be an individual final take-home exam similar to one of the cases analyzed in class.

• No pass/fail grades