Visualisation plan de cours
2026 / 2027
EM3E5M55
Microfinance
Programme
PGE PGE5 Finance
Semestre
B
Coefficient
1
Volume horaire
Face à face : 11 H
Travail personnel indicatif : 22 H
Discipline
Finance
Nombre de places
45
Cours ouvert aux étudiants visitants
Oui
Langue d'enseignement
Anglais
Responsable
BLAZY
Liste des intervenants
| Intervenant(s) | Volume horaire | ||
|---|---|---|---|
| Régis BLAZY | regis.blazy@unistra.fr | 11 h CM |
Discipline
Finance
Descriptif
This lesson aims at presenting the main stakes attached to the microfinance industry, as initially introduced in Bangladesh by M. Yunus (2006 Nobel peace prize), and replicated all over the world since then (including Europe). In France, several institutions are specialized in that field (ADIE, Alsace Active...).Microfinance, as an alternative way of financing businesses, encompasses (1) microcredit, (2) micro-saving, and (3) micro-insurance. This course insists on the main difficulties of traditional banking to finance (or insure) poor entrepreneurs, despite their individual talent, or level of innovation. The specific mechanisms of microfinance are then presented and analyzed in detail: group lending, women enpowerment, flexible approach to collaterals, impact on poverty and development, sustainability, managerial incentives...
The reference book of this lesson is the seminal manuscript from Armendariz and Morduch, published at MIT Press: The Economics of Microfinance, 2010.
During this course, the students are given the opportunity to present a microfinance institution, or any subject / application related to microfinance / financial development.
MAC
Co-concevoir des solutions managériales pour un objectif durable/Co-design managerial solutions to achieve sustainable o
4 ECTS
Contribution pédagogique du cours au programme
Develop impactful management using the latest knowledge and tools in the fields of management |
|---|
| Determine a strategic and managerial vision in a complex, uncertain and changing environment |
| Evaluate sustainable managerial practices using managerial concepts and instruments as well as digital tools |
| Design solutions adapted to organizational problems by applying relevant methodologies |
Develop advanced managerial skills for responsible leadership |
| Co construct a managerial and organizational culture through collaboration and team projects |
| Recommend critical decision making to drive change in organizations |
Practice impactful management in a multicultural and international environment, driven by a "European mindset" |
| Communicate in a professional context in (foreign) languages, in writing and/or orally |
| Formulate solutions to organizational challenges in a multicultural and international context, driven by a "European mindset" |
Organisation pédagogique
Face-to-face
- Lectures- E-learning
In group
- Oral presentations- Case studies/texts
Interaction
- Discussions/debates- Games (educational, role play, simulation)
Objectifs pédagogiques - COGNITIVE DOMAIN
A l'issue du cours, l'étudiant(e) devrait être capable de / d'...
- Explain how microfinance works.
- Illustrate examples related for the fields of microfinance.
- Criticize the debates around microcredit.
- Synthesize the financial mechanisms attached to financing.
- Appraise the upcoming stakes of financial development.
Objectifs pédagogiques - AFFECTIVE DOMAIN
A l'issue du cours, l'étudiant(e) devrait être capable de / d'...
- integrate the main challenges faced by alternative finance institutions (moral hazard, adverse selection, etc.)
- question the reasons why traditional lending channels generally fail in lending to the poor entrepreneurs
Objectifs pédagogiques — Objectifs de développement durable (ODD)
ODD portés par la politique RSO de l'EM.
Plan / Sommaire
1. Introduction
2. The specificities of the credit markets (the various forms credit markets)
3. Microcredit and group lending (information, mechanism, new contracts, women targeting)
4. Micro-insurance & savings (micro-insurance contracts, savings & deposits)
5. The impact on poverty and development (methodology issues, empirical findings)
6 [optional]. Can microlending be sustainable? (the role of subsidies, two examples)
7 [optional]. Incentives, management & organization (case study, multiple objectives, incentives)
8 [further]. Microfinance funds industry
9. Conclusion
2. The specificities of the credit markets (the various forms credit markets)
3. Microcredit and group lending (information, mechanism, new contracts, women targeting)
4. Micro-insurance & savings (micro-insurance contracts, savings & deposits)
5. The impact on poverty and development (methodology issues, empirical findings)
6 [optional]. Can microlending be sustainable? (the role of subsidies, two examples)
7 [optional]. Incentives, management & organization (case study, multiple objectives, incentives)
8 [further]. Microfinance funds industry
9. Conclusion
Prérequis nécessaires
Connaissances en / Notions clés à maîtriser
- Financial institutions - Microeconomics - Financial reports - Banking economics - AlgebraSupports pédagogiques
Mandatory tools for the course
- CalculatorDocuments in all formats
- Photocopies- Newspaper articles
- Case studies/texts
- Other : Videos
Moodle platform
- Upload of class documents- Other : Access to tutorial videos
Adossement à la recherche
Ce cours est adossé à la recherche.
- Research-led (par les contenus)Le cours mobilise des connaissances issues de la recherche académique récente.
- Research-tutored (par la discussion)Le cours développe l’analyse critique et la discussion de contenus (presse, rapport d’études…), travaux ou résultats de recherche.
Bibliographie/références académiques
BOYE S., J. HAJDENBERG, C. POURSAT: “Le Guide de la Microfinance”, Ed°. D’organisation, Eyrolles Press ZELLER M., R. MEYER: “The Triangle of Microfinance” [collective book], Johns Hopkins University Press MATTHÄUS-MAIER I., J.D. Von PISCHKE: “Microfinance Investment Funds” [collective book], Springer CIRAD: “Le microfinancement dans les pays en développement”, Les bibliographies du CIRAD Applied Experiments: come from a W.P. by Nicolas EBER (Sciences Po Strasbourg)Travaux de recherche de l'EM
Finance et éthique, (Editors: Chantal Cutajar, Jérôme Lasserre-Capdeville, Michel Storck, Lamy, collection “Axe Droit”), “Le microcrédit : une finance au service du développement?”, R. Blazy, 2013.Modalités d'évaluation
Liste des modalités d'évaluation
Evaluation finale 1
Early 2026 (2-3 weeks after the last session)
Compétence mesurée
ILO1.1-PGE, ILO1.3-PGE, ILO2.2-PGE
Seconde chance
Early 2026 (2-3 weeks after the last session)
Compétence mesurée
ILO1.1-PGE, ILO1.3-PGE, ILO2.2-PGE