Financial Technology



Mål og innhald

The course introduces students to recent advances in the fintech area, and will focus on key concepts and theoretical underpinnings of financial intermediation, blockchain, and cryptocurrencies.

The primary focus of this course is on fintech (such as peer-to-peer platforms), blockchain technology and cryptocurrencies, which are perhaps the most significant innovations in finance in recent years. Peer-to-peer platforms have introduced new forms of lending, and are believed to have democratized finance. Blockchain has disrupted traditional financial services by introducing decentralized, peer-to-peer forms of financing that affect banks, stock exchanges, venture capitalists, private equity firms, and other financial intermediaries. It is now widely speculated that these legacy incumbents will gradually disappear in coming decades as new fintech platforms and blockchain-based financing methods such as initial coin offerings (ICO) become popular and more widely available.

We will begin by formulating the basics of financial intermediation, the economic role played by banks and other financial intermediaries, and the benefits and drawbacks of their services. We will then study disintermediation and the emergence of peer-to-peer platforms. Next, we will explore the advent of trustless, decentralized cryptocurrencies beginning with Bitcoin, and its impact on various financing innovations (such as ICOs) and investments. We will also explore whether cryptocurrencies can truly function as alternative forms of money, and how they pose a threat to incumbent financial intermediaries and even to central banks and regulators. We will then study ICOs, understand how their tokenized architecture aligns growth incentives and ensures competition, the investment risks associated with ICOs, and regulatory responses to this recent innovation. Lastly, we will study how financial transactions such as auctions are conducted on online platforms like eBay. 


A student who has completed the course should have the following learning outcomes:


The student:

  • has basic knowledge of financial intermediation and related theories.
  • has basic understanding of the role of banks and other intermediaries in traditional financial markets.
  • has knowledge of how firms raise external finance, and how they raise capital in public markets.
  • has basic knowledge of smart contracts and tokens, and understand their network effects.
  • has basic knowledge of wallets and how to use them to transact in cryptocurrencies and tokens.


The student can:

  • explain the benefits and drawbacks of traditional financial intermediation.
  • describe recent trends and innovation in financial intermediation.
  • explain the difference between reintermediation and disintermediation.
  • develop an overview of blockchain technology and how trust is achieved in decentralized networks.
  • explain the motives and objectives for the introduction of Bitcoin and blockchain technology.
  • explain the relationship and differences between cryptocurrencies and fiat money.
  • Understand the pros and cons of initial coin offerings (ICO), and explain the factors contributing to their phenomenal growth in recent years. 
  • Understand the various mechanisms through which regulatory authorities of different countries have attempted to regulate cryptocurrencies and ICOs. 

General competence

The student:

  • understands the crucial role played by financial intermediaries in firms' going public decision.
  • understands the relationship between intermediation and blockchain / cryptocurrencies.
  • understands the mechanisms through which tokenization and blockchain can potentially disrupt the market power of incumbent businesses.
  • understands the pros and cons of initial coin offerings (ICO), and explains the factors contributing to their phenomenal growth in recent years.
  • understands the various mechanisms through which regulatory authorities of different countries have attempted to regulate cryptocurrencies and ICOs. 

Studiepoeng, omfang


Studienivå (studiesyklus)



Krav til forkunnskapar
Tilrådde forkunnskapar
Recommended taken third academic year at bachelor level
ECON264: 10 ECTS
Krav til studierett
The course is oriented towards students with the right to study Information Technology and Economics, Integrated Master's, 5 years, Economics, Bachelor's, 3 years, Economics, Integrated Master's, 5 years and Informatics-Mathematics-Economy, Bachelor's, 3 years
Arbeids- og undervisningsformer
The course consist of a mix of regular lectures and seminars, and emphasizes strongly students being active throughout the course, both individual and in groups.
Obligatorisk undervisningsaktivitet

Portfolio. The grade awarded will be:

  • 50% based on a case study assignment written in group at the maximum of 5000 words and 
  • 50% based on an 4 hours written exam

The exam will be given in the language in which the course is taught.
The exam can be submitted in English. It is also possible to submit in Norwegian, Swedish or Danish.

Graded A-F

Assessment in teaching semester.

Regarding re-sit exam


Students with valid absence as defined in UiB's study regulations § 5-5 can apply for an extension of the submission deadline on the written essay by emailing The application must be submitted before the deadline for submission has expired.

School exam

A re-sit exam is arranged for students with valid absence at school exam given that the essay has been submitted according to § 5-5.

If a resit exam is arranged, it is available for students with the following results/absences:

  • Medical certificate/valid absence
  • Interrupted exam

If you have the right to take a resit exam and a resit exam is arranged for students with valid absence, you can register yourself in StudentWeb after January 15th/August 1st.

The reading list will be ready by July 1 for the autumn semester and December 1 for the spring semester.
All courses are evaluated according to UiB's system for quality assurance of education.
Hjelpemiddel til eksamen
  • Mathematical Formula Collection of K Sydsæter, A. Strøm and P. Berck or Mathematical Formulas for Economists of B Luderer, V. Nollau and K. Vetters.
  • Simple, non-programmable calculators without graphical display, in accorance with university guidelines.
  • The Department of Economics can conduct a sample of aids in the examination room.

    The Programme Committee is responsible for the content, structure and quality of the study programme and courses.
    Administrativt ansvarleg
    The Department of Economics at the Faculty of Social Sciences has the administrative responsibility for the course and the study programme.