Finance for the World's Poorest

This course examines how the poorest households around the world use informal and formal financial systems to save, manage money, and improve their well-being. The class begins with a focus on traditional savings circles, known globally as ROSCAs, before turning to institutional credit, mobile money, and other financial inclusion strategies. Students will analyze savings groups, microfinance, remittances, and ultra-poor graduation programs, gaining insight into how these models work and their strengths and limitations. The course emphasizes locally driven, community-based approaches that often outperform formal financial institutions in terms of reach and sustainability. Students will apply this understanding through a practical final project in which they design a scalable financial inclusion initiative to reach at least 30,000 savers or borrowers in a developing country. Guest speakers and case studies will deepen exposure to current practices and innovations in the field.