Micro & Consumer Finance MicroMasters Program

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About Program

Why Micro & Consumer Finance MicroMasters?

In recent years, financial inclusion in emerging markets has been a focal point of attention. Big focus on the importance of delivering efficient microfinance products to the mass majority of the under-privileged and low-income populations. The course helps you in understanding the major issues in microfinance practices. Given the sizeable number of people engaged in SMEs in the world who lack access to financial services, a thorough understanding of the sustainability and growth is needed.

This course will identify, explain and discuss the role of microfinance institutions in socio-economic development, review how these institutions are regulated and unravel some of the myths that have hindered their operations for many decades with a view of unveiling their potential for growth and development.

Consumer financial markets are booming with innovations and fintech startups from Bitcoin and new payments technologies, to peer-to-peer lending like Lending Club, to financial advising startups like Betterment, to innovative products to solve the problems of the aging population of the developed world, to insurance and financial products to facilitate growth in developing markets.

We will cover consumer financial products related to credit, investment, and transactions. We start with how people make financial decisions, including both rational and behavioral models, and then turn to how financial products and markets are designed to serve the needs of consumers and/or to make profits. The course also touches on the funding of lending to households and the design and risks of financial products backed by mortgages, credit cards, or student loans, as well as the rapidly-evolving institutions and regulatory structure affecting the financial industry serving households.

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What Will You Learn?

  • Concepts and principles of microfinance.
  • Identify issues that hinder the success of microfinance and consumer finance.
  • Explain to a group of would-be operators of microenterprises and small businesses the significant components of microfinance such as financial instruments and lending methodologies, performance evaluation and management, and preparing financial statements.
  • Appraise the state of microfinance in their respective country; and recommend positive approaches that will facilitate the poor's access to financial services.
  • Learn about the risk categories and mitigation of risks in micro finance business and institutions.

Program Content

Introductory Microfinance

  • Introduction
  • The global ecosystem involved in financial inclusion
  • Trends and current practices in various international markets
  • The nature of Microfinance
  • The demand for microfinance
  • The supply of microfinance
  • Products and services in microfinance
  • A new Taxonomy in Microfinance
  • Microfinance and ethical finance

Product and Services in Modern Microfinance

digital transformation of Microfinance

Risk Management in Microfinance

The Role of Regulation

Consumer lending

Sustainability and Outreach

Class Projects

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