Business and Management Economics and Finance - LUISS Guido … · students take the examination to obtain the Diploma di Maturità in the specialised area they have chosen. This

ECTS

Business and Management Economics and Finance

Academic Year 2015/2016

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Edited by: The Student Exchange Office Viale Romania, 32 00197 Rome - Italy Rome, October 2015

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▌TABLE OF CONTENTS

Page

Introduction – What is ECTS?

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Education in Italy

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LUISS Guido Carli

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The Department of Economics and Finance The Department of Business and Managemnt Bachelor Courses

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- General Course Structure

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- Description of courses

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- Summary Table of Courses

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- Prerequisites

101

Master’s Courses

- General Course Structure

103

- Description of courses

127

- Summary Table of Courses

183

The School of Management – LUISS Business School

193

Useful information for Guest students

194

How do I apply for a period of study at LUISS?

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2015-2016 Academic calendar

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Exchange deadlines – Academic Year 2016-2017 204

LUISS Guido Carli and ECTS - Grading System

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FAQ – Frequently Asked Questions

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LUISS Guido Carli – Area Map

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All information contained in the package, while true at the time of publication, is subject to modification

and should therefore be checked appropriately.

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▌INTRODUCTION

What is ECTS? The European Community promotes inter-university co-operation as a means for improving the quality of education to the benefit of students and higher education institutions alike. Student mobility constitutes a primary feature of that co-operation. The Erasmus + programme clearly demonstrates that a study period abroad can constitute a particularly precious experience, not only being the best way to discover countries, ideas, languages and cultures different from one's own but also because it is gaining a growing importance in the evolution of university and professional careers. The creation of a single European area in the field of education, where students and teachers can move freely without barriers, goes upon the recognition of the studies undertaken and the qualifications achieved abroad. For this reason ECTS - the English acronym for the European Community Course Credit Transfer System - was born, originally as a master plan within the framework of the previous Erasmus + programme, with the aim of promoting academic recognition of studies undertaken abroad. The European Commission decided to include ECTS in the Socrates programme, in particular within Sector I reserved to higher education (Erasmus +), given the conclusive effectiveness of the ECTS system. After the first stage planned for a limited application, ECTS is now becoming much more meaningful to the extent of becoming a permanent feature of the European context of higher education. ECTS is above all pursuing transparency, establishing the conditions necessary to bring institutions closer together and broadening the range of choices offered to students. Its application facilitates the recognition of students' academic results through to the use of widely understood standards - credits and grades - as well as a better understanding of the national systems of higher education. ECTS goes upon three basic elements: 1) Information on study plans and student results, 2) Reciprocal agreement (between the participating institutions and the student) and 3) The use of ECTS credits (values representing the working load done by the student).

Principal Features of ECTS ECTS is thus founded upon three basic elements: information on study plans and student results, reciprocal agreement (between the participating institutions and the student) and the use of ECTS credits (values representing the workload done by the student). These three basic elements are effective through three fundamental documents: 1) The information brochure, 2) The application form/learning agreement and 3) The transcript of records, as to the studies done. But the essential aspect is that ECTS is activated by the students, the teachers and the institutions which intend to make studying abroad a whole part of the learning experience. Indeed, ECTS does not, in any way, determine the contents, the structure or the equivalence of study programmes. These qualitative aspects must be decided upon directly by the higher education institutions in the moment of setting, either through bilateral or multilateral agreements, the basis for a viable co-operation. The code of good practice proposed by ECTS

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offers the interested parties the tools suitable to pursue transparency and academic recognition. Full academic recognition is a sine qua non condition of student mobility within the framework of the Erasmus + programme. Full academic recognition requires the period of study abroad (including exams and other forms of evaluation) to effectively substitute a comparable period of study (including exams and other forms of assessment) in the institution of origin notwithstanding the fact that there may be differences in the contents of the programme. ECTS goes on voluntary use and reciprocal trust at academic level among the participating institutions. Every institution chooses its own partners.

Transparency ECTS guarantees transparency through the following instruments:

ECTS credits, - a numerical value assigned to a course unit – which represent the working load that a student must undertake in order to complete a given course unit. The credits express the quantity of work every course unit requires with respect to the global volume of work necessary to successfully complete a full year's study at the institution, that is: lectures, practical work, seminars, traineeships, research or surveys, personal study - either at home or in the library - together with exams and other forms of student assessment. ECTS is, therefore, based on the overall working load of the student and not merely limited to lecture hours. 60 credits represent the working load for a full academic year's study and, as a rule, 30 credits are equivalent to a semester and 20 credits to a trimester.

The ECTS information brochure, which provides useful information to students and personnel about the institutions, faculties/departments, course organisation and structure as well as the individual course units.

The ECTS learning agreement, which describes the study plan the student has to follow and indicates the ECTS credits that shall grant upon satisfactory completion thereof. The agreement binds the student to attend the host university's programme as the main part of their higher education, the institution of origin to guarantee the student full academic recognition of the credits obtained abroad and, the host institution to provide the agreed course units to the extent allowed by the academic calendar.

The ECTS transcript of records, which presents the student's academic results in a clear, complete and comprehensible manner for each part and which must be easily transferable from one institution to another.

To facilitate the academic recognition of the studies undertaken or completed abroad, good communication and flexibility are required. In this regard the ECTS co-ordinators carry out a fundamental role monitoring the academic and administrative aspects of ECTS. As a rule, it is necessary to make available to the students the entire range of course units of the department that implements ECTS, including those units relating to postgraduate studies. The students must be able to attend regular courses - and not especially set up for them - and must be given the opportunity to satisfy the demands of the host institution giving an academic qualification. Reliance on ECTS credits guarantees the organisation of programmes, which are reasonable in terms of working load for the period of study abroad. For instance, 120 ECTS credits for a year require a student to work twice as hard as an average student whose plan is 60 credits. At the same time, 30 ECTS credits for a year period correspond to a part-time studying.

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ECTS, moreover, allows students to continue their studies abroad. In fact, it can happen that once the original study period is over the student may not wish to return to their original institution but may instead prefer to remain in the host institution - possibly to graduate from there - or move on to a third institution. Such decision may not be taken without the agreement of all institutions involved which in any case have to set the conditions to fulfil in order to graduate from the host institution or transfer to a third institution. The ECTS certificate is a chronology of the student's academic record and it can constitute a particularly useful instrument for the institutions to manage such a decision.

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▌EDUCATION IN ITALY

Until 1989 (Law 168/1989) the entire Italian educational system was under the Ministry of Education. At that time the Ministry of Universities and Scientific Research was created to take over the responsibilities of university education and scientific and technological research. The two entities are currently encompassed under the organisational designation Ministero dell’Istruzione, dell’Università e della Ricerca - MIUR (Ministry of Education, University and Research). Information for foreign students can be found at www.study-in-italy.it ).

PRIMARY AND SECONDARY EDUCATION Cycles Following the 2003 Reform of primary and secondary education, the Italian school system has been reorganised as follows:

First cycle Primary education: 5 years of schooling beginning at age 6; Secondary education (first degree): 3 years of schooling beginning at age 11.

Second cycle Secondary education (second degree): 5 years of schooling beginning at age 14.

The higher secondary schools are of various types: classical, scientific, linguistic, artistic, technical and vocational studies as well as teacher training. At the end of the 5-year course, students take the examination to obtain the Diploma di Maturità in the specialised area they have chosen. This diploma grants admission to an Italian university. Grading System Until 1968, secondary school grading was on a scale of 0-10, 6 being the minimum passing grade. From 1969 to 1999, final marks were on a scale of 0-60, 36 being the minimum passing grade. Since 2000 a different system has been implemented: final marks are on a scale of 0-100 and the minimum passing grade is 60.

UNIVERSITY EDUCATION Admission Admission to Italian universities grants only to holders of a Diploma di maturità from an Italian secondary school. Foreign students, or Italian students from secondary schools abroad, are admitted on the strength of equivalent qualifications. There are no limitations on admission except in Medical School (medicine, dentistry, veterinary), in private independent universities (like LUISS Guido Carli or Bocconi in Milan), and in newly established universities/degree courses. Grading System In the university grading system, individual courses grade on a scale of 18-30. The maximum final grade is 110, after the dissertation of a thesis on a free topic. For very brilliant students the degree may be awarded cum laude.

< 18 = fail

18/23 = sufficient

24/26 = satisfactory

27/28 = good

29/30 = very good

30 e lode = Excellent

http://www.study-in-italy.it/

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Academic Qualifications and Degrees 1. University Diploma This is a first-level university qualification for courses lasting 3 years. For admission to these courses, students must have a Diploma di Maturità. 2. Laurea (Degree) The system of university study in Italy has undergone an overall reform in terms of structure and teaching system. Up to 2001, to obtain a Laurea, the basic university degree, used to take 4 to 6 years, depending on the field of study. From the academic year 2001/2002, universities have adopted three study cycles. The first cycle, three years in length, is characterised by a professional training type content and concludes with the award of a first-level degree (Laurea Triennale – Bachelor Degree); the second cycle, lasting two years, concludes with the award of a second-level Master’s degree (Laurea Magistralis – Master’s Degree); while the third cycle, lasting from one to three years, leads to the award of either a doctorate or a specialised postgraduate degree. Teaching activity is organized in departments, which offer one or more degree courses in specific academic areas. Course requirements are established by law and the laurea is obtained after the student has passed a set number of exams, gained the required credits, and successfully discussed a written research paper. Admission to the Laurea programme is regulated by the general rules for university admission. Courses for masters degrees may also be offered parallel to each study cycle. All study programmes must be based on the European system for the transfer of academic credits (ECTS) as provided for in recent agreements reached at EU level.

Along with the three-cycle program system established by the Italian Ministerial Decrees, a limited number of “old” second cycle programs (dental medicine, human medicine, pharmacy, veterinary medicine, architecture, law) coexist with the new university system. These programs, called One-Cycle Programs, aim at providing students with advanced education and training for highly qualified professions in specific areas. The general access requirement is upper secondary school degree or a comparable foreign qualification. Admission to individual degree programs may be subject to specific course requirements.

One-Cycle Programs last five years and require 300 credits (European Credit Transfer System) for completion (only human medicine requires six years and 360 credits). The degree awarded is a Master’s Degree which grants access to competitions for the civil service, to regulated and non-regulated professions, doctoral programs and all the other postgraduate study degree programs.

3. Research Doctorate The aim of the doctoral studies programmes is to offer post-graduate opportunity for research. Programmes include individual research under the guidance of professors and special seminars. The minimum period of study is three years. This third-level academic degree, Doctorate of Research, is awarded to candidates who have successfully documented their research and written an original final thesis. This programme is open to a limited number of candidates (also from foreign countries), who must be university graduates or hold equivalent degrees.

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3a. Post-graduate Diplomas of Specialization These diplomas are given by schools offering special advanced courses in various professions. The limited places are reserved for university graduates or those with equivalent foreign qualifications. The courses last 2/3 years and include practical experience. Attendance is mandatory. The final examination is a defence of a written thesis.

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▌LUISS GUIDO CARLI

1. NAME OF INSTITUTION LUISS - Libera Università Internazionale degli Studi Sociali Guido Carli, Rome, Italy. President Dott.ssa Emma Marcegaglia

Executive Vice President Dott. Luigi Serra Rector Prof. Massimo Egidi

General Manager Dott. Giovanni Lo Storto

Head, Student Exchange Office

for Student Mobility

Dott.ssa Annamaria A. Ricciardi

Student Exchange Office

Viale Romania, 32 -00197 Rome – Italy

Tel. +39/06/8522.5642 – 5389 - 5722

Fax. +39/06/8522.5505

Email: [email protected]

Website:

http://www.luiss.edu/students/erasmus-and-exchange-students


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2. GENERAL DESCRIPTION

Type LUISS Guido Carli is an independent university. It was established according to Article 1 of Italy’s Higher Education Act, which gives independent universities full legal status while guaranteeing their autonomy in the areas of administration, teaching and discipline. Its degrees and diplomas have complete legal and academic recognition. LUISS Guido Carli was set up in 1976-78 by a consortium of private and public companies, that re-organized a pre-existing Institution, “Pro Deo”. Its goal is to form students to assume the responsibilities of managing complex economic systems in both the State and private sectors. At present LUISS Guido Carli has four departments: Department of Economics and Finance; department of Business and Management; department of Law, department of Political Science. Certain features characterize LUISS Guido Carli:

a set number of students for the four departments;

admission by entrance test;

full time compulsory attendance of courses;

organisation of courses into semesters;

a highly qualified teaching staff;

intensive study of foreign languages and computer training;

a large specialised library and a catalogue that can be consulted directly from the University’s web site;

an extensive network of international exchanges;

orientation for high school students;

seminars and debates on important issues as a complement to lectures;

assistance by qualified tutors during the entire university study period as well as traineeships;

personal counselling service to facilitate integration and to optimise study strategies.

Professors and lecturers are appointed from the academic world, the professions, senior State and private sector management. Lectures are held in Italian and English. They are integrated by seminars, debates and conferences on both Italian and international topics, often with the participation of prominent guest speakers. The annual tuition fee at LUISS Guido Carli, for the a. y. 2015/2016 (I year), is € 9,000 for all Bachelors’ degrees and for the Single Cycle Master Degree in Law. The annual tuition fee for Master’s Degrees is € 10,000 (I year). Scholarships are granted to deserving students who meet certain income conditions.

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Location Since October 2007 LUISS Guido Carli has moved to a new location in the residential area called “Parioli”. Most of the teaching and researching activities are now taken in the new area. Please note that classes of Law are still taken in the old location (Via Parenzo, 11); Economics and Finance, Business and Management, and Political Science classes are instead taken in the new seat. Please refer to the following information: a) The main campus of the new location (Viale Romania 32, 00197 Rome, tel.: +39-06-852251) now comprises: I. The Student Exchange Office: Viale Romania 32, 00197 Rome, tel.: +39-06-85225722/642. Opening hours are from 10 a.m. to 12 a.m. Monday to Friday, and from 3 p.m. to 4 p.m. Tuesdays and Thursdays.

II. The Department of Economics and Finance (lecture rooms Bachelor and Master’s): Office and Presidency, Viale Romania 32, 00197 Rome, tel.: +39-06-8522550, e-mail: [email protected]. Opening hours are from 10 a.m. to 12 a.m. Mondays, Wednesdays and Fridays, and from 2.30 p.m. to 4.30 p.m. Tuesdays and Thursdays.

II. The Department of Business and Management (lecture rooms Bachelor and Master’s): Office and Presidency, Viale Romania 32, 00197 Rome, tel.: +39-06-85225310, e-mail: [email protected]. Opening hours are from 10 a.m. to 12 a.m. Mondays, Wednesdays and Fridays, and from 2.30 p.m. to 4.30 p.m. Tuesdays and Thursdays.

III. The Department of Political Science (lecture rooms Bachelor and Master’s): Office and Presidency, Viale Romania 32, 00197 Rome, tel.: +39-06-85225290/+39-06-85225700, fax: 06-85225702, email: [email protected]. Opening hours are from 10 a.m. to 12 a.m. Mondays, Wednesdays and Fridays, and from 2.30 p.m. to 4.30 p.m. Tuesdays and Thursdays.

IV. The Student Office – Segreteria Studenti: Viale Romania 32, 00197 Rome, tel.: +39-06-85225263/06-85225270, fax: 06-85225895, e-mail: [email protected]. The Student Office deals with enrolment and supplies students with all the necessary information. Opening hours are from 9.30 a.m. to 12.30 a.m. Monday to Friday, and from 2.30 p.m. to 4.30 p.m. Tuesdays and Thursdays. The Student Office closes one week in mid-August. Students also have computer and multimedia services available through which they can comply with all bureaucratic requirements in connection with university life. Moreover, there is the "LUISS-sms" service allowing students to communicate with the University through messages that can be read or sent to any mobile phone. V. The Orientation Office: Viale Romania 32, 00187 Rome, tel.: +39-06-85225354, e-mail: [email protected]. The Office is open from Monday to Friday. VI. The Computer Centre: Viale Romania, 32 00197 Rome, IT Services: tel.: +39-06-85225211/+39-06-85225279/+39-06-85225275, fax: +39-06-85225930; Help Desk: tel.: +39.06.8522.5211, e-mail: [email protected]. The Computer Centre is a support structure for research and teaching activities of Computer Sciences in the four departments. It also provides consulting and support services for the other sectors of the university (institutes, centres, departments and training courses). To this end, there are seven computer rooms and a university-wide network which also provides a link to the outside world via GARR, Internet and Itapac for the consultation of different databases. A satellite hook-up with Reuters network services is being prepared in order to have access to international financial data. The Computer Centre also supports all the administrative activities within the university, as well as

mailto:[email protected]



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management activities and library consultation, using a medium-high-powered mainframe (Olivetti-Hitachi 6460/160 IBM compatible with VM/ESA and VSE/ESA operating system with DBDC CICS/V SE). b) The Department of Law (lecture rooms, Student Office): Via Parenzo 11, 00198 Rome. The Student Office is located on the Ground Floor of the building, tel.: 06-85225294, fax: 06-85225826, e-mail: [email protected]. Opening hours are from 10 a.m. to 12 a.m. Monday thorough Friday, and from 3 p.m. to 4 p.m. Tuesdays and Thursdays. c) The Library (Via di Santa Costanza 53, 00198 Rome, tel.: +39-06-85225600; fax: +39-06-

85225625; e-mail: [email protected] holds about 120,000 books, over 2,000 paper journals (1,100 of which are current issues), 75 databases, and it provides access to over 30,000 e-journals. In 1999 the library was donated the “Ungari Fund” collection consisting of around 10,000 books on law and human rights in particular. There is a computerised system which stores data concerning monographs, allows for on-line research and monitors the volumes lent out. Facilities available to students include a consultation room and a reading room, equipped with terminals and copy machines. Students may borrow books (loan term: 30 days). The opening hours are the following: Reading Room, from Monday to Friday from 8.00 a.m. to 9.45 p.m./Saturday from 8.30 a.m. to 1.45 p.m.; Reference and Electronic Resources, from Monday to Friday from 8 a.m. to 8 p.m./Saturdays from 8 a.m. to 1.45 p.m.; Delivery Room and Circulation Service, from Monday to Friday from 8.30 a.m. to 9.00 p.m./Saturday from 8.30 a.m. to 1.45 p.m. d) Student facilities are organised by the University Union - Diritto allo Studio: Viale Gorizia 17, 00198 Rome, tel.: +39-06-85225410; fax.: +39-06-85225404; e-mail: [email protected]. Detailed information can be obtained from the Union Office, open Monday to Thursday from 9 a.m. to 12 a.m. and from 2.30 p.m. to 4 p.m., and Fridays from 9 p.m. to 12 a.m. A desk is also at the students’ disposal in Viale Romania 32, Monday to Friday from 10 a.m. to 12 a.m. The University Union is responsible, among other things, for medical facilities (see below).

Size Current enrolment is about 7,682 for all four departments. The teaching staff numbers about 1,290. Be in 1 teacher to 7 students ratio.

3. ACADEMIC CALENDAR 2015-2016 ◊ Bachelor Degree academic year

Fall semester September 14 * / September 21 – December 5, 2015 * II and III year classes at Bachelor level and II year classes at Master level, of the Department of Economics and Political Science will begin on 14 Septmeber 2015. The other classes will begin on 21 September 2015.

Spring semester February 15 – May 14, 2016

The same academic year applies to the Single Cycle Degree in Law. There are four examination periods: from 10 December to 19 December 2015; from 7 January to 13 February, 2016; and from 16 May to 2 July 2016; from 29 August 2016 to 10 September 2016 (please note that the exam session from 29 August to 10 September 2016 is not open to exchange



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students). Within each period one (in September), two or three dates (Appelli) are offered for each examination, and students may choose any one of the two or three.

4. REGISTRATION EU and non EU students EU and non-EU students will find specific and detailed information on the steps of the admission at LUISS as a foreign student on: www.luiss.edu/admissions. Nevertheless, general information on admission requirements is reported below. General requirements Please Note: Not applicable to Exchange students The number of students admitted to the first year is limited to allow best teaching conditions. A) BACHELOR DEGREE In the year 2015/2016 total enrolment will be 1530 students:

Economics and Finance Business and Management

650

Law 500

Political Science 260

Economics and Business 120

Admission goes upon secondary school grades and an entrance examination (aptitude test). To sit the entrance examination students must:

1) pay the examination fee of €100; 2) the application form will be available on website

http://www.luiss.it/ammissione/ammissione-lauree-triennali-e-ciclo-unico-aa-20132014 3) print out the confirmation of submission of the application, which must be kept and then

showed for identification purposes on the day of the exam itself.

The examination for the 2015/2016 academic year will be held on March 19, 2015 and September 4, 2015.

A student who passes the May examination and then wishes to enrol must:

1) pay the first instalment of the tuition fee and the entire regional student welfare tax,

using the form available online, by 23 July 2015. Both payments must necessarily be made through a branch of UniCredit Banca di Roma located in Italy. It should be borne in mind that once enrolment is complete the sums paid cannot be refunded under any circumstances. Once the peremptory enrolment deadline of July 2015 passes, it will no longer be possible to enrol for the 2012/2013 academic year.

2) deliver by hand or post the enrolment application and the following documentation to the Student Office (Segreteria Studenti, Luiss Guido Carli, Viale Romania 32, 00197 Rome, Italy) by and no later than July 2015:

receipts for payment of the first instalment of the tuition fee and the entire regional student welfare tax;

http://www.luiss.edu/admissions

http://www.luiss.it/ammissione/ammissione-lauree-triennali-e-ciclo-unico-aa-20132014

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two identical passport-size photos;

photocopy of both ID and Italian tax and social security number card (codice fiscale);

original school leaving qualification, if already awarded. Students who have not yet obtained that document must provide self-certification using a specific form for such purposes. The provisional certificate evidencing the grade obtained must be delivered to the Student Office by and no later than July 2015 in order to formally complete the enrolment process. The original of the original school leaving qualification must be delivered to the Student Office as soon as it becomes available and in any case by and no later than July 2015;

privacy statement duly signed. B) MASTER’S DEGREE In a.y. 2015/2016 the total number of places available for the Master’s two-year degree courses will be about 880:

Economics and Finance Business and Management

650

Political Science 230

LUISS graduates who have obtained at least 100/110 or better in their bachelor’s degree will be given priority in admission without the need to sit an examination for such purposes. Graduates who have obtained a grade of lower than 100/110 in their first degree or graduates from other universities may be admitted subject to passing the entrance examination until the set number of places available is filled. The entrance examination consists in a written test which is held on 14 July 2015. The information about the examination fee will be soon published on the LUISS website. The following categories of students are admitted to attend the Master’s degree courses: - LUISS graduates exempt from the admission exam who will graduate after 1 July and by the autumn session of the 2014/2015 academic year (November 2015), who are admitted to attendance for the first semester of their chosen master's degree course;

- LUISS students admitted following the exam of 15 July 2015;

- students coming from other universities admitted following the exam of 14 July 2015, who enrolled/were admitted to attendance for the first semester by July 2015.

Within a week after graduation and in any case no later than 30 November 2015 enrolment must be formally completed in accordance with the following procedure:

- fill out the enrolment form (online) (to which a 14.62 Euros revenue stamp must be affixed);

- pay the entire regional student welfare tax; - deliver or post the following documentation to the Student Office (Luiss Guido Carli,

Segreteria Studenti, Viale Romania 32, 00197 Rome);

- print-out of the enrolment form duly signed (to which a 14.62 Euros revenue stamp must be affixed);

- privacy statement duly signed; - bank receipt for payment of the entire regional student welfare tax; - two identical passport-size photos;

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- photocopy of ID; - original school leaving qualification and original degree certificate (documents already

lodged with the Students Office). SPECIFIC REQUIREMENTS FOR INTERNATIONAL STUDENTS APPLYING FOR “CORSI SINGOLI” (SINGLE COURSES) – Please Note: Not applicable to exchange students Foreign students may attend one or more LUISS Guido Carli courses and, on application to the Rector, take the respective exams. At the end of the course, students will obtain a certificate stating the course that was taken and the mark obtained. Students who want to apply for single courses (Corsi Singoli) must submit the following documents: 1) an application to the Rector, stating clearly the course selected; 2) the enrolment certificate with details of the exams passed. For foreign students the

certificate must be translated and legalised by the relevant diplomatic and consular authorities. For LUISS graduates a degree certificate is required;

3) two photographs; one of the photographs must be authenticated and issued by diplomatic or consular authorities. It must indicate the date of birth, place of birth, citizenship and residence;

4) 14,62 € stamp. Admission fee is 1.300,00 € per course for Bachelor subjects and 1.300,00 € per course for Master subjects. The Student Office [email protected] takes care of registration for Corsi Singoli.

EXCHANGE STUDENTS ERASMUS + PROGRAMME AND BILATERAL AGREEMENTS

The Student Exchange Office (Viale Romania, 32 00197 Rome) deals with orientation and registration of students on exchange programmes (Erasmus + and Bilateral Agreements). Every year, around the month of February, LUISS sends an info-package to every partner Institution by e-mail. It contains information for exchange students and application forms for: - Online registration, including the ‘Learning Agreement’(or proposed programme of study) - Accommodation - The intensive course in Italian Language in September. All applications, in electronic and paper version, completed and signed, must be received by May 31, that is the fixed deadline for fall and/or spring semester applications every year. As soon as the application forms are received, in June, LUISS will send incoming students acceptance letters and practical information. Since courses and examinations are mainly held in Italian, students will need to have an adequate knowledge of the language before beginning their courses. If necessary, they can attend an intensive Italian course that is held every year at LUISS Guido Carli in September.


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There are set mandatory arrival dates for each academic year. The dates are not yet available, but they will be made available and sent to partners institutions as soon as possible.

At their arrival, students must report to the Student Exchange Office at 10.00 or at 2.30 p.m. (Viale Romania, 32 - 00197 Rome - tel.: +39-06-85225642/5389/5722- fax: +39-06-86225505 - E-mail: [email protected]). They are highly recommended to arrive on the fixed dates.

5. COURSES, EXAMS, TRANSCRIPTS OF RECORDS The language of instruction is mainly Italian. Every year, LUISS offers some courses in English. The final list is available at the beginning of classes. The standard working load for LUISS students is about 30 credits/semester, including two language courses. Guest students are advised not to take more than the average working load. On making their choice of courses exchange students should: check the pre-requisites, avoid time-table clashes for attendance is compulsory, pick courses only at their level (Bachelor or Master). Full-year courses can only be taken by the students that will spend the whole academic year at LUISS. If these conditions are met, guest students have access to all the courses in the four LUISS Departments. In order to attend the Master’s Degree Courses students must have: - a Bachelor degree or three years of study completed before departure; - a very good command of the Italian/English language. Please note that it will be very difficult to mix Bachelor and Master’s courses because of the different timetables, calendar and examination periods. Full-time attendance of classes is mandatory. The final examinations for each course are oral and sometimes written. Written tests may be given occasionally during the course. Guest students are registered automatically for all the examination dates (Appelli) for all the courses they have chosen. Exams can be taken only on the official dates. Please note that NO special examination can be arranged for exchange students. The original transcripts of records will be sent both to the students and partner institutions after the end of each examination session. To the students who come to LUISS for the whole academic year or for the second semester, the transcripts will be sent at the end of the first week of September. Our summer examination session ends on 2 July and transcripts cannot be prepared before the session is over. Since the University closes in August, the transcripts can only be issued by the Student Office after the summer break.


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6. COURSE IN ITALIAN LANGUAGE AND CULTURE

LUISS Guido Carli offers a semester Italian course for guest students who have been admitted to attend a semester or a year at the Department of Economics and Finance, and the Department of Business and Management, Political Science, or Law. The courses are at three levels, beginners, intermediate and advanced; they are free of charge. The courses are only open to Erasmus + and Exchange students coming from partner Universities and they are free of charge. Students who would like to attend the course must specify so on their application form. The courses comprise at least:

40 - 45 minute lessons for the beginners and intermediate level;

40 - 45 minute lessons for the advanced level.

The courses will have three hours of classes per week in each semester. The students that attend the courses and comply with the requirements will receive a certificate and gain 3 ECTS credits. The person responsible for the courses is Professor Concetta Amato Beginners Level This level is for those who never attended an Italian language course. The main aim of the course is to help the student understand sentences and frequently used expressions related to areas of most immediate relevance (e.g. very basic personal and family information, shopping, local geography, employment). Intermediate Level This level is for those who have already attended an Italian course and are able to communicate in everyday situations. The principal aim of the course is to improve oral communication. Particular emphasis is placed on listening comprehension to enable students to take full advantage of lectures in their chosen field. Advanced Level This level is for those who are already proficient in the language and need to develop specialist language areas. The main aim is to help the student reach a high standard of reading and writing skills. Extra curricular activities These include:

Presentations followed by discussion;

Meetings with Italian businessmen;

Guided tours with specialized teachers.

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The activities and meetings develop topics already discussed in class and take into account the interests of individual participants.

7. ACCOMMODATION Since LUISS does not have student dormitory facilities offered to Exchange Students, the Student Exchange Office does not take direct responsibility in providing accommodation. A private organisation, C.T.S., takes care of it according to the application forms received (by C.T.S. and the Student Exchange Office of LUISS Guido Carli) by May 31. Ask the Erasmus + Coordinator in your university for a copy of our Accommodation documents. Please read the booking conditions carefully, follow the instructions and complete the application form.

8. HEALTH AND INSURANCE Students from the EU are entitled to the services of the Italian National Health Service. However, they must bring along their European Health Insurance Card (E.H.I.C.).

The University doctor is available to all LUISS Guido Carli students on Mondays, Wednesdays and Fridays from 3.00 p.m. to 4.00 p.m. and on Tuesdays and Thursdays from 10.00 a.m. to 12.00 a.m. at Viale Gorizia 17 (tel.: +39-06-85225416; email: [email protected]).

The University Union has also started up a preventive medicine service in collaboration with appropriately equipped hospital centres. Every student is entitled to general check-ups, and, if necessary, special tests.

Exchange students are required to avail themselves of an insurance policy to cover risks or accidents during the period of study in Italy.

9. RESIDENCE PERMITS FOR NON-EU STUDENTS RESIDENCE PERMIT FOR NON-EU STUDENTS

Non-EU students who intend to spend some time in Italy must request a residence permit no later than 8 working days from their arrival in Italy. How to obtain the residence permit for study reasons: Use the yellow kit which you will find in all postal offices. Carefully fill in the forms, following all the instructions. Together with the filled application, students must also bring:

a valid passport;

a photocopy of the passport (in A4 format);

a photocopy of any other requested identity documents (in A4 format). The Immigration Office will contact you by priority mail for the photo-typing surveys and to set an appointment for you to receive the electronic residence permit. REGISTRATION FOR EU STUDENTS


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For students who plan to stay in Italy for less than three months, no formality is requested; for periods longer than three months, students need to make a vital statistic registration at the municipality, as Italians citizens do.

Students will have to call 06/0606 to know which Roman municipality they belong to (you just need to tell the address of your accommodation in Rome).

This procedure is mandatory, and it requires the following documents:

Personal ID (or Equivalent);

Declaration by LUISS stating the duration of the students exchange period. (this document is issued by the Student Exchange Office on the orientation day);

Health insurance policy covering all risks that students might incur in during the whole exchange period abroad;

Proof of economic means of subsistence, also by self-statement.

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▌THE DEPARTMENTS DEPARTMENT OF ECONOMICS AND FINANCE Director: Professor Stefano Manzocchi DEPARTMENT OF BUSINESS AND MANAGEMENT Director: Professor Luigi Marengo The aim of the Department of Economics and Finance and of the Department of Business and Management is to train students who wish to become entrepreneurs, professionals and managers capable of operating in a highly-competitive business world and managing complex, rapidly changing situations.

BACHELOR - THREE-YEAR DEGREE COURSES Corsi di Laurea Triennale: DEPARTMENT OF BUSINESS AND MANAGEMENT:

1. Economics and Management Economia e Management

DEPARTMENT OF ECONOMICS AND FINANCE:

2. Economics and Business

Each degree course consists of 180 credits. Didactic activity is organised in semesters. 1. The Bachelor's Degree Program in Economics and Management is a three-year program. The

language of instruction is Italian. Throughout their years of study, students explore areas of academic interest while fulfilling general education requirements in the economic, business, legal and quantitative disciplines. The Program provides the tools and methods for critical analysis and interpretation of economic and business dynamics. Students acquire knowledge and understanding of operational, economic and financial areas, as well as decision-making and decision control tools. A main distinctive feature of the Economics and Management Bachelor's Degree Program is the focus placed in balancing analytical and conceptual foundations with specific specialization studies.

2. Economics and Business

LUISS has developed an English-language Bachelor’s Degree Course in Economics and Business for a selected group of students. The Programme provides a foundation for economics and business disciplines. It has a strong international focus.

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Through the acquainted knowledge, graduates will be ready to work at junior level (assistant/analyst) in all business areas of the financial sectors and the public administration.

MASTER’S DEGREE – TWO YEAR COURSES

Corsi di Laurea Magistrale DEPARTMENT OF BUSINESS AND MANAGEMENT: 1. Economics and Business Management

Economia e Direzione delle Imprese

2. Management (in English)

3. Professional Consulting and Corporate Auditing Consulenza professionale e revision aziendale 4. Marketing (I year a.y. 2015-2016)

DEPARTMENT OF ECONOMICS AND FINANCE:

4. Economics and Finance Economia e Finanza

Each degree course consists of 120 credits. Didactic activity is organized in semesters. 1. Economics and Business Management

This course provides managerial skills aimed for solving complex problems associated to business management of resources. There are several areas of specialisation within the degree course of Economics and Business Management: Management

Gestione d’impresa Administration, Finance and Control

Amministrazione Finanza e Controllo

Digital management: transforming business and public administration (in English)

Management Consulting Consulenza direzionale

2. Management

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This course, introduced in September 2006, is the first of its kind in Italy. It is taught entirely in English and it is formulated for Italian and foreign students who want to acquire highly specialized skills in International Business and Management. The course has been established in partnership with University of Fudan, Shangai, China, in order to promote cooperation between the two universities and the exchange among Chinese, Italian and foreign students in an international economic context. To this extent the first Sino-Italian university campus has been founded, in cooperation with another prestigious Italian university, Bocconi in Milan, to manage this multilateral academic project. The course has different areas of specialisation: First and second Year: International Management

Corporate Finance Innovation and Entrepreneurship Luxury, Fashion and the creative industries

3. Professional Consulting and Corporate Auditing

The master’s degree program in "Business Consulting" gives graduates a solid preparation, and the knowledge and skills they will need to become business consultants in the following areas: administration, finance and control, auditing, company valuation and extraordinary corporate transactions, corporate governance, and tax planning. The degree program also allows them to acquire the expertise they need to enter the profession of accountant and statutory auditor.

An in-depth knowledge of company phenomena and management techniques, from both the qualitative and quantitative points of view, can be applied to large, medium-sized and small organizations and to different business sectors. This combined expertise allows students to develop operational and professional capabilities to solve problems related to fiscal, administrative and financial consulting for businesses, auditing, tax planning, extraordinary corporate transactions and corporate governance. In addition, students will gain experience with conceptual and methodological tools that consultants typically use and which characterize this degree program. This degree course consists of 120 credits. Didactic activity is organised in semesters. 4. Marketing The master’s degree program in marketing aims to increase both basic knowledge and specialised skills, and hone the ability to analyse and manage marketing processes. This is why it is divided into two specific and very different majors. One is for those who exhibit a greater aptitude for quantitative methods, analysis and measuring business and market phenomena (major in "Analisi e Misure di Marketing" – Marketing Analytics & Metrics); the other is designed for those who have greater interpersonal and management skills and who are interested in the implementation and entrepreneurial aspects of marketing (major in "Gestione dei Processi e delle Relazioni di Marketing" – Market Relationships & Customer Engagement).

The first emphasises the quantitative and qualitative methods of analysing demand, competition,

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client portfolios and in general the measurement of all marketing phenomena, internal and external to a business. In short, it is the major for those who wish to work as a marketing analyst, contributing to shape the decision-making processes of the organisation. By contrast, the second focuses on managing exchanges and relations with intermediate clients (distribution and retail channels) and end customers. It is marketing managment in a broad sense and thus revolves around brand managment, communication, the sales force, digital and mobile marketing, pricing, promotion, events, social media and any other type of initiative that has a commercial value. It is useful for those who wish to work as marketing managers. 5. Economics and Finance

This course offers a solid grounding in the various branches of economics and mastery of the quantitative methods in support of diagnosis and decisions inherent in public policies and financial strategies of business. There are several areas of specialisation within the degree course of Economics and Finance: Finance (in English) Economics (in English) Banche e Intermediari Finanziari

Banks and Financial Intermediaries

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▌GENERAL COURSE STRUCTURE

BACHELOR DEGREE COURSES

Economics and Management

Economics and Business

Economics and Business (in English)

Economics (only first and second year)

Finance (only first and second year)

Management (only first and second year)

Credits: from 2 to 8 depending on the course

Total credits for each degree course: 180


FIRST YEAR


Fall semester Credits

BUSINESS ADMINISTRATION 8

Economia Aziendale

ITALIAN PRIVATE LAW 8

Diritto privato

MATHEMATICS 8

Matematica

Spring semester Credits

HISTORY OF ECONOMICS AND BUSINESS 8

Storia dell’economia e dell’impresa

PUBLIC ECONOMIC LAW 8

Diritto pubblico dell’Economia

COMPUTER SCIENCE 6

Informatica

MICROECONOMICS 8

Microeconomia

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SECOND YEAR



FINANCIAL MATHEMATICS 8

Matematica Finanziaria

MACROECONOMICS 10

Macroeconomia

ACCOUNTING 8

Contabilità e bilancio

Spring Semester Credits

INDUSTRIAL ECONOMICS 8

Economia Industriale

BUSINESS LAW 8

Diritto Commerciale

STATISTICS 8

Statistica

MANAGEMENT 8

Economia e Gestione delle Imprese

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THIRD YEAR


Fall semester Credits Spring Semester Credits

Learning Activities Credits

ELECTIVE COURSE 16

OTHER ACTIVITIES (internships, computer skills…) 4

FOREIGN LANGUAGE 6

FINAL EXAM (Graduation Thesis ) 4

Elaborato finale

CORPORATE FINANCE 8

Finanza Aziendale

MARKETING 8

Marketing

FINANCE 8

Scienza delle Finanze

BUSINESS ORGANIZATION 8

Organizzazione Aziendale

ECONOMICS OF FINANCIAL MARKETS AND INTERMEDIARIES

8

Economia dei mercati e degli intermediari finanziari

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Elective courses The following Bachelor courses will be activated with a minimum of 20 students.


COURSE

CREDITS SEMESTER PROFESSOR

MANAGEMENT CONTROL

8 Spring Paolo Bastia

BANKING LAW 8 Spring Mirella Pellegrini

TAX LAW 8 Fall Laura Castaldi, Fabio Marchetti

ECONOMICS AND MANAGEMENT OF PUBLIC UTILITIES

8 Spring Donato Iacovone

MONETARY AND CREDIT ECONOMICS

8 Spring Giorgio Di Giorgio

ENERGY ECONOMCIS 8 Fall Carlo Andrea Bollino

ENTREPRENEURSCHIP, INNOVATION AND TECHNOLOGY

8 Spring Andrea Prencipe, Vangelis Souitaris

MARKETING OF SERVICES

8 Spring Maria Giovanna Devetag

HISTORY OF ECONOMIC THOUGHT

8 Spring Giuseppe Di Taranto

INDUSTRIAL MARKETING

8 Fall Gian Luca Gregori

METHODOLOGY OF SOCIAL SCIENCES

8 Fall Lorenzino Infantino

MARKETS AND 8 Spring Maria Giovanna Devetag

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To avoid large classes in the I, II and III year there are three or four sections of each course. Contact hours involve a variety of activities, such as lectures, case studies and seminars. Full-time attendance is mandatory. The final examinations for each course are oral and sometimes written. Written tests may on occasion be given during the course. Exchange students coming to LUISS Guido Carli for a semester or for a year are free to take the courses they are interested in at Bachelor level, as long as they have the necessary prerequisites. Please note that LUISS Guido Carli students take 30 credits for semester including two languages courses. We suggest that guest students do not take more than the average working load.

STRATEGIES

MARKETS AND DISCIPLINE OF COMPETITION

8 Spring Roberta Pardolesi

ORGANIZATION OF CORPORATE INFORMATIC SYSTEMS

8 Spring Tommaso Federici

AUDITING AND PROFESSIONAL SKILLS

8 Spring Antonio Chirico

PSYCHOLOGY AND ECONOMICS

8 Spring Cristiano Caslterfranchi

HUMAN RESOURCES ORGANIZATION AND MANAGEMENT

8 Fall Gabriele Gabrielli

STOCK MARKETS TECHNIQUES

8 Spring Claudio Boido

HISTORY OF CORPORATIONS AND CORPORATE ORGANIZATIONS

8 Spring Valerio Castronovo

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FIRST YEAR

Economics and Business (common to all majors)


INTRODUCTION TO BUSINESS ECONOMICS 8

PRINCIPLES OF ECONOMICS 8

MATHEMATICS 1 10


ACCOUNTING 8

STATISTICS 8

MICROECONOMICS 8

PRINCIPLES OF CIVIL LAW 6

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Economics and Business SECOND YEAR

Major in Economics

Fall Semester Credits

MACROECONOMICS 8

MATHEMATICS 2 8

FINANCIAL MARKETS AND INSTITUTIONS 8


APPLIED STATISTICS AND ECONOMETRICS 12

CORPORATE FINANCE 8

IO AND COMPETITION THEORY 8

LAW AND ECONOMICS 10

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Major in Finance


MATHEMATICS 2 8


MACROECONOMICS 8




CORPORATE FINANCE 8


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Major in Management


MATHEMATICS 2 8


MACROECONOMICS 8




CORPORATE FINANCE 8


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THIRD YEAR



HISTORY OF ECONOMIC THOUGHT AND POLICY 6


Learning activities Credits

ELECTIVES** 16

FINAL EXAM (Graduation Thesis) 4

OTHER ACTIVITIES* 10

LANGUAGES 6

INTERNSHIP 4

* 16 credits divided as follows: First Foreign language (Spanish/French/Chinese) 6 credits to be chosen at the end of the first year and to be attended from II semester of the second year to II semester of the third year. Internship or Second Foreign language (Spanish/French/Chinese) 4 credits (language to be chosen at the end of the first year and to be attended from II semester of the second year to II semester of the third year). Information Systems 6 credits.

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Elective courses **

The following Bachelor courses will be activated with a minimum of 20 students


COURSE


ECONOMIC GROWTH AND DEVELOPMENT

8 Fall Battisti Michele, Jona-Lasinio Cecilia Susanne

ENTREPRENEURSHIP, INNOVATION AND TECHNOLOGY

8 Spring Prencipe Andrea, Souitaris Vangelis

GAMBLING: PROBABILITY AND DECISION

8 Fall Marco Scarsini

INTERNATIONAL ECONOMICS

8 Spring Manzocchi Stefano

MARKETING 8 Fall Marcati Alberto

MONEY AND BANKING 8 Fall Paesani Paolo

PUBLIC ECONOMICS 8 Fall Francesco Ferrante, Valentina Meliciani

To avoid large classes in the I, II and III year there are three or four sections of each course. Contact hours involve a variety of activities, such as lectures, case studies and seminars. Full-time attendance is mandatory. The final examinations for each course are oral and sometimes written. Written tests may on occasion be given during the course. Exchange students coming to LUISS Guido Carli for a semester or for a year are free to take the courses they are interested in at Bachelor level, as long as they have the necessary prerequisites.

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Please note that LUISS Guido Carli students take 30 credits for semester including two languages courses. We suggest that guest students do not take more than the average working load.

▌DESCRIPTION OF COURSES (Alphabetical Order) Bachelor Courses Economics and Management

1 AUDITING, ETHICS AND PROFESSIONAL SKILLS Spring semester; III year; 72 lectures; 6 hrs per week; 8 credits; elective - Business auditing: characteristics, classification, subject matter and aims. - The legal regulation of the statutory auditing of accounts. - The system of internal controls: relationship between the board of statutory auditors,

internal auditing and statutory auditing of accounts. - Auditing principles: structure, analysis and comment. - The process of auditing statutory financial statements: techniques and documentation. - Special transactions as regards their main economic, business, civil, accounting and tax

aspects: transfers, splits, mergers, transformations, liquidation and lease of a business. - Professional conduct and ethics associated with practising as a certified public accountant or

accounting expert.

Prerequisites: Basic knowledge of Management and Accounting

Other activities: Practical works

Assessment: Written and oral exam

Professor: Chirico

Learning Outcomes: The course aims to provide students with the basic knowledge on key aspects of auditing, professional skills and ethics. It therefore falls within the field of business studies that broaden and deepen the knowledge already acquired in business economics and accounting and financial statements. In particular, the course examines principles, characteristics, purposes, operating procedures and statutory audits in order to highlight their growing importance, especially in light of the need to improve the degree of reliability. Ample space is devoted to changes in the legal rules on auditing that resulted in significant modifications to the previously existing regulations. The course will then proceed to consider the main M&A type transactions carried out by companies as part of their operations. In this regard, there will be an in-depth analysis of the underlying economic-business reasons and the main legal, accounting and tax aspects relevant thereto. The final part of the course is dedicated to explaining the ethical principles that should guide the work of chartered

KEY

E1-Acc1a/b/c/d-B: E=Economics; 1=First year; Acc= Name of the course; 1= N°of list a/b/c= Class B=Bachelor M=Master

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accountants and accounting experts.

Textbooks: L. MARCHI, REVISIONE AZIENDALE E SISTEMI DI CONTROLLO INTERNO, GIUFFRE', Milano, 2012 L. POTITO, Le operazioni straordinarie nell'economia delle imprese. 4a ed. rivista ed ampliata Giappichelli, Torino, 2013 Other materials provided during the course.

2 E3-BL2-B: BANKING LAW Fall semester; III year; 72 lectures; 6 hrs per week; 8 credits; elective

Sources of financial law and evolution of the rules. Role of rules deriving from EU and international regulation. Anti-money laundering law. Outline of banking regulatory authorities. Forms of supervision. Banking and financial activities. Authorisation to carry on business. Persons: banking institutions and non-banking financial intermediaries. Bank-industry relationship. Crisis procedures for banking undertakings. Rules of conduct. Customer protection. Financial crisis and sovereign debt crisis. Topical issues.

Prerequisites: Italian Private Law

Other activities: practical work, seminars (guest speakers)

Assessment: oral exam

Professor: Pellegrini

Learning Outcomes: Highlight the evolutionary process of the regulation of the banking and financial sector with particular attention to the most important issues. Analyse the forms of protection for savers-investors in the field of financial services. Identify the rationale of certain significant financial events that have occurred in recent years. Given the continuous developments in legislation, regulation and case law, special attention is paid to the subject how to monitor for updates.

Textbooks: AA.VV., Manuale di diritto bancario e finanziario, a cura di Capriglione, Cedam, 2015, nelle seguenti parti: [check the new textbook] chap. I; chap. II, sectionI, until 10; chap. II, section 2, par. from 1 to 4, par. 10, 13 and 14; chap. III, section I, paragraph 1, 4, 5, 6, 7, 10 and 11; chapters IV, section I, par. from 1 to 5; chap. V, ; chapters VIII and IX; chap. XII; chap. XIV, par.1 and 2, cap. XV, excluding 9; chap. XVII 3a E1-BA4a-B: BUSINESS ADMINISTRATION Fall semester; 72 lectures; 7 hrs per week; 8 credits

The main topics addressed in the course are:

- the origins and subject matter of business administration;

- the definition and classification of business by legal writers;

- sole proprietorships and various forms of partnerships/companies;

- the systems of corporate governance and the various types of company;

- business groups: definition and classification;

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- the circuit and management operations;

- the dynamic and values of managerial operations;

- income and working capital;

- outline of how income and capital is recorded in financial statements;

- the double entry bookkeeping system;

- financial and economic balance in management;

- outline of main financial statement indicators;

- operational and financial leverage.

Other activities: Case studies, guest speakers

Assessment: written (60%) and oral (40%) exam

Professor: Musaio

Learning Outcomes: The course will examine the following in depth: - firms in the socio-economic context that they carry on

business; - the various forms of organisation of a firm; - the management process as a system of operations; - the dynamics of the value and knowledge of the method

for recording transactions for accounting purposes, with a special focus on capital and income.

Textbooks: C. Caramiello, L’azienda, Milano, Giuffrè, 1993; C. Caramiello, Capitale e reddito, Milano, Giuffrè, 1993; Fabrizio Di Lazzaro, La performance del valore, Giappichelli, 2003 Fabrizio Di Lazzaro, Paolo Malagrinò, Esercizi svolti di economia aziendale, Giappichelli, 2008. Materials will be provided during the semester. 3b E1-BA4b-B: BUSINESS ADMINISTRATION Fall semester; 72 lectures; 7 hrs per week; 8 credits

First Part: Introduction to the theory of the firm, the management and organisation of business.

Business administration, the concept of business and relations between the business and the external environment.

The role of the economic sciences within the framework of the social sciences.

Business administration and political economy: the different spheres of investigation.

The role of the business in economic activities.

The various methods of classifying a business.

The institutional aspects of the business: the aims of the economic entity.

Corporate governance: an international comparison.

Relations between businesses and the relevant external environment: political, social and environmental implications of business activities.

The life cycle of a business: establishment, operation and termination.

The establishment stage: fundamental choices.

The operational stage: the fundamental scheme of management operations.

Business finance: equity and debt.

Criteria for choosing the form of financing.

The acquisition of the factors of production: fixed assets and current expenditure.

The production function.

Marketing.

The economic and financial balance of a business.

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General principles of business organisation.

The various forms of concentration among businesses.

Aspects of business strategy and policy.

The terminal stage: cessation of activities.

Aspects of mergers and acquisitions. Second Part: Management information.

Information on business management intended for external purposes: aims and tools.

Technical means of recording management transactions: value dynamics.

The recording of finance transactions for accounting purposes.

The recording of purchase transactions for accounting purposes.

The recording of sale transactions for accounting purposes.

Determining the income for the financial year and working capital.

Organisation and management of the administrative function in businesses.

Aspects of the double entry system.

The requisites of effectiveness of external business information.

Information on business management intended for internal purposes: auditing. Third Part: Corporate governance.

Corporate governance and business risk.

Comparative models of corporate governance.

Auditing systems.

Corporate governance and the protection of outside stakeholders. Fourth Part: Performance measurement.

Analysis of financial and other indicators.


Assessment: written

Professor: Fiori

Learning Outcomes: • Knowledge and understanding: reading and analysis of economic and financial corporate performance. • Applied knowledge and understanding: preparation of financial statements. Understanding of the business dynamics of the relationships between different economic entities. • Making judgments: The course will focus on the representation and analysis of company results. The main objective is therefore to equip each student with the necessary tools to formulate an independent and personal judgment on corporate performance, solidity and profitability. • Communication: ability to present and comment content and results of the financial statements with appropriate and specialised terminology. • Ability to learn: professor/student dialogue as well as constant exercises in class allow one to constantly check students' learning ability and assess their progress in relation to the topics covered.

Textbooks: Fiori G., Tiscini R., Economia Aziendale, Egea, 2014.

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3c E1-BA4c-B: BUSINESS ADMINISTRATION Fall semester; 72 lectures; 7 hrs per week; 8 credits 1. Introduction to Business Administration - the role of Business Adminstration - the birth of Business Administration - a branch of Business Administratio 2. The Business - definition - evolutions - classification - corporate governance 3. Value dinamics and administration - the value chain - the dynamic and values of managerial operations - income and capital recording in financial statements 4. Accounting and Administrative systems

- The recording of finance transactions for accounting purposes. - methodology for operational accouting 5. The conditions for managing a business - financial and economic balance in management - financial and operating leverage - strategic risk and analysis.

Other activities: case studies, seminars, guest speakers

Assessment: written and oral exam

Professor: Di Lazzaro

Learning Outcomes: 1) Understanding of what firms are. 2) Types of companies and corporate governance. 3) Dynamics of the value and knowledge of the method for

recording transactions for accounting purposes. 4) Knowledge as a condition for management.

Textbooks: Caramiello C., Capitale e reddito, Giuffré, Milano, 1993; Caramiello, L’azienda, Giuffré, 1993; Di Lazzaro F., La performance del valore, Giappichelli, 2003; Di Lazzaro, Malagrinò, Esercizi svolti di economia aziendale, Giappichelli, 2008. Other material provided during the semester. 3d E1-BA4d-B: BUSINESS ADMINISTRATION Fall semester; 72 lectures; 7 hrs per week; 8 credits 1) Introduction to business administration 2) Governance, strategies, administration, organization 3) Introduction to accounting 4) Introduction to corporate performance analysis



Professor: Tiscini

Learning Outcomes: Provide students with a basic overview of business

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administration and the first quantitative elements for determining income and capital as well as the profitability of operations.

Textbooks: Fiori G., Tiscini R., Economia Aziendale, Egea. Caramiello C., L’azienda (alcune brevi riflessioni introduttive), Milano, Giuffrè, 1993. Cavalieri E., Economia aziendale,Vol. I, Roma, Giappichelli, 2010. or Potito L. (a cura di), Economia Aziendale, seconda edizione, Giappichelli, 2014. Slides and materials provided during the semester. 3e E1-BA4d-B: BUSINESS ADMINISTRATION Fall semester; 72 lectures; 7 hrs per week; 8 credits 1) Introduction to business administration 2) Governance, strategies, administration, organization 3) Introduction to accounting 4) Introduction to corporate performance analysis


Assessment: written exam

Professor: Bozzolan

Learning Outcomes: The objective of the course is to provide participants with a solid grounding in theory and practice in relation to basic concepts of business administration. Attention will be paid to the issues of corporate governance, preparation of financial statements and analysis of business performance. There will be an in-depth focus on representing and analysing business results.

The main objective is therefore to equip each student with the necessary tools to formulate an independent and personal judgment on corporate performance, solidity and profitability.

In particular, the course objectives regard: - preparation of financial statements allied to an

understanding of the business dynamics of the relationships between different economic entities;

- analysis of statutory financial statements and understanding of economic and financial business performance.

Textbooks: Fiori G., Tiscini R., Economia Aziendale, Egea, 2014. 4a E2-BL5a/b/c/d-B: BUSINESS LAW Spring semester; 72 lectures; 7 hrs per week; 8 credits

Rules governing enterprises in general, companies, credit instruments and insolvency proceedings.

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Professor: Farenga

Learning Outcomes: Knowledge of the main principles of business law with a view to preparing students for work in management and consultancy roles in the business world.

Textbooks: V. Buonocore, Manuale di diritto commerciale, Giappichelli, Torino, latest edition or G.F. CAMPOBASSO, Diritto commerciale in 3 volumi, latest edition. 4b E2-BL5a/b/c/d-B: BUSINESS LAW Spring semester; 72 lectures; 7 hrs per week; 8 credits

General theory of the firm. Commercial and non-commercial enterprises. The ‘statute’ of the commercial entrepreneur. The business. Partnerships. Companies. Credit instruments. Cooperatives and consortia.



Professor: Donativi

Learning Outcomes: The course aims to examine the main topics concerning the various forms of organisation through which business activities may be carried on. In particular, the analysis will focus on legislation regarding the entrepreneur and enterprises, insolvency proceedings, partnerships and companies, with the precise purpose of developing the capacity to interpret and critically analyse rules allied to the ability to understand the critical factors that arise in relation to the legal aspects of the various forms of business organisation.

Textbooks G.F. Campobasso, Diritto commerciale, vol. 1, Diritto dell’impresa, UTET, latest edition; Associazione Disiano Preite, Il diritto delle società, Il Mulino, latest edition; Slides and materials provided during the semester. 4c E2-BL5a/b/c/d-B: BUSINESS LAW Spring semester; 72 lectures; 7 hrs per week; 8 credits

The entrepreneur. The ‘statute’ of the commercial entrepreneur. The business. Trademarks. Consortia. Competition law. Credit instruments. Banking contracts. Insolvency proceedings. Partnerships. Joint stock companies. Limited liability companies. Partnerships limited by shares. Co-operative societies.



Professor: Lener

Learning Outcomes: The course is divided into three parts. The first part focuses on aspects of business enterprises and on the

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instruments used by entrepreneurs to carry on business (banking contracts and credit instruments). The second part of the course is devoted to an analysis of the rules governing partnerships and companies, with special reference to recent legislative changes. The third part focuses on new developments in insolvency proceedings.

Textbooks Associazione Disiano Preite, Il diritto delle società, Il Mulino, Bologna, latest edition. G.F. Campobasso, Manuale di diritto commerciale, Utet, latest edition.

4d E2-BL5a/b/c/d-B: BUSINESS LAW Spring semester; 72 lectures; 7 hrs per week; 8 credits

The entrepreneur. Categories of entrepreneur. Acquisition of status of entrepreneur. The ‘statute’ of the commercial entrepreneur. The business. Trademarks. Competition law. Consortia. Temporary groupings of enterprises. EEIGs. Companies and partnerships in general. De facto, general and limited partnerships. Limited liability companies, joint stock companies and co-operative societies. Mandates. Banking contracts. Financial brokerage. Securities brokerage. The securities market and stick exchange contracts. Business crises. Bankruptcy. Arrangements with creditors. Compulsory administrative liquidation. The extraordinary administration of large insolvent enterprises.



Professor: Macrì

Learning Outcomes: The course aims to introduce students to the legislative framework regulating business enterprises, especially highlighting the latest changes in both company and bankruptcy law.

Textbooks: Gian Franco Campobasso, Manuale di Diritto Commerciale, fifth edition, latest edition. 5a E2-BO6a/b/c-B: BUSINESS ORGANIZATION Spring semester; 72 lectures; 7 hrs per week; 8 credits The concept of Organisation; Organisation and organisational behaviour; organisational theories: the "teachers"; Organisation as a system: determinants of results, interdependencies, openness to the environment; variability, uncertainty and complexity; the strategy-structure relationship; the main organisational structures; organisational boundaries, hierarchy, the market and intermediate forms (alliances, networks, joint ventures, districts); Organisation size, life cycle and decline; organisational change; Organisation and innovation; learning Organisation and knowledge management; information Organisation and technologies; management systems: the production of information for decision-making and information systems; management systems: personnel management, concepts, methods and instruments; instruments of development and remuneration; conflict management; mobility and formation; organisational culture.

Other activities: Discussion, guest speakers

Assessment: written exam (40%) oral exam (40%), team work (20%)

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Professor: Casalino

Learning Outcomes: The course aims to examine the main design and analysis categories of a business’ organisational structure in order to develop an effective capacity for the assessment of business contexts that form the background for the processes and define requirements and operating procedures. The main theoretical foundations and the operational processes of the business organisation will be analysed, evaluating organisational models in relation to the strategies chosen by a company and taking into account the products and markets. The main methods for effective management of resources and the introduction of innovation in business processes in public and private organisations will also be considered in depth.

Textbooks: Jones G.R., Organizzazione. Teoria, progettazione, cambiamento, Egea, 2012 o, in alternativa, Daft R.L., Organizzazione Aziendale, 5 ed., Maggioli-Apogeo, 2014 Casalino N., Piccole e Medie Imprese e Risorse Umane nell’Era della Globalizzazione, Cedam, Padova, 2012 Other materials on: http://elearning.luiss.it or handed out in class. 5b E2-BO6a/b/c-B: BUSINESS ORGANIZATION Spring semester; 72 lectures; 7 hrs per week; 8 credits 1. Introduction to the organisation and definitions

2. Organisational theories - The classical theories - The school of human relations - The contingent theory

3. The theories of organisational design

4. The elements of organisational design - Objectives of organisational design - The division of labour - The models of coordination - The levels of organisational design - The structural dimensions of organisational design

5. Strategy, organisational design and effectiveness

6. Key elements of organisational structure

7. Structural models

8. External environment and inter-organisational relationships

9. Technologies for production and for services

10. IT and controls

11. Dimensions and life cycle

12. Organisational culture

13. Innovation and change

14. Decision-making processes

15. Conflict, power and politics

http://elearning.luiss.it/

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Other activities: Case studies, team works


Professor: Cicchetti

Learning Outcomes: The course aims to teach students the concepts and methods for the design of organisational structures, the establishment of coordination mechanisms and organisational behaviour. The course seeks to foster the acquisition by students of the skills required for organisational analysis and design through the extensive use of case studies to complement traditional lectures.

Textbooks: R. Daft. 2014. Organizzazione Aziendale, Apogeo, Milano A. Cicchetti, La progettazione organizzativa, F. Angeli, Milano F. Fontana, Sistemi Organizzativi Aziendali, F. Angeli, Milano 5c E2-BO6d-B: BUSINESS ORGANIZATION Spring semester; 60 lectures; 7 hrs per week; 8 credits The course consists of an introduction to organisational theory and four specific parts. The introductory part presents the systems theory from the general perspective of analysis and organisational design. Subsequent parts are organisational structures, the external environment, technology and organisational change.


Assessment: written (75%) and oral exam (25%)

Professor: Dandi

Learning Outcomes: The course aims to teach students the concepts and methods for the design of organisational structures, the establishment of coordination mechanisms and organisational behaviour. The course seeks to foster the acquisition by students of the skills required for organisational analysis and design through the extensive use of case studies to complement traditional lectures.

Textbooks: Daft R.L. (2014), Organizzazione Aziendale, fifth edition, Maggioli Editore. 5d E2-BO6d-B: BUSINESS ORGANIZATION Spring semester; 60 lectures; 7 hrs per week; 8 credits The course addresses organisation as a field of study, exploring the principles of design and analysis of organisational macrostructures and microstructures and emphasising the strategy-structure relationship. It begins by providing an overview of the dimensions of organisational design and the theoretical foundations of the different options of organisational design. An examination is then undertaken of the main classical and modern organisational theories allied to an analysis of the determinants and criteria for the definition of the organisational structure. Next, the course focuses on the different organisational models implemented, emphasising the advantages and disadvantages of various options. Also analysed are aspects such as innovation

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management and organisational change, the impact of technology on an organisation, systems and processes, organisational relationships, and organisational culture. Finally, with reference to the organisation of work, mention is made of the strategic management of human resources with a particular focus on tools for the motivation and incentivsing of personnel and on organisational behaviour.


Assessment: Written (70%) and individual work (30%)

Professor: D’Alise, Prencipe

Learning Outcomes: The course aims to provide the theoretical and conceptual knowledge and the methodological tools needed to design, implement and change the organizational architecture of business organizations. More specifically the learning outcomes are those listed below: - to develop skills to design an appropriate

and effective organisational structure in line with business strategy, objectives and context and to analyse the appropriateness of an existing organisational structure with respect to the same elements;

- to facilitate the understanding of criteria and internal and external drivers of the choices of organizational design;

- to analyse the macrostructure and the microstructure through the focus on organisational structures and models, systems and processes, practices of resource management, organisational behaviour and culture;

- to stimulate problem solving skills for the identification, analysis and resolution of organisational issues, through case studies.

The ultimate goal is to develop the skills to make organisational design a driver of performance and competitive advantage.

Textbooks: Daft R. L., Organizzazione Aziendale, quinta edizione, Apogeo, 2013 Slides and materials will be provided during the semester. Suggested readings;: Noe R.A., Hollenbeck J.R., Gerhart B., Wright P.M., Gestione delle risorse umane, second edition, Apogeo, 2012 Kreitner R., Kinicki A., Comportamento organizzativo, second edition, Apogeo, 2013 Fontana F., Il sistema organizzativo aziendale, Franco Angeli, 1999 Fontana F., Lo sviluppo del personale, Giappichelli, 1994 Cicchetti, A., La progettazione organizzativa, Franco Angeli, 2004 Warren N., Organisation Design. Re-defining complex systems, Pearson, 2012 Jones G.R., Organizzazione. Teoria, progettazione, cambiamento, Egea, 2007

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6a/b/c E1-CS7a-B: COMPUTER SCIENCE Fall semester; 48 lectures; 7 hrs per week; 6 credits The course consists of a theoretical part (traditional lectures) and a practical part (lessons in the computer room). The theoretical part reflects the content of the syllabi of the OPERATE module of the EUCIP Core certification and the EUCIP IT Administrator Fundamentals module (http://www.eucip.it). There follows a description of the content of each part. Theoretical part - Hardware components and architecture. - Operating systems and software applications. - Networks and protocols. - Network and web services. - Data storage, Data Base and DBMS. - Applications, user interfaces and the Web. - Computer security. - IT and organisations. Practical part - Word processing. - Spreadsheets. - Databases. - Presentation creation software.

Other activities: Practical work


Professors: Za, Italiano, Bernaschi

Learning Outcomes: The course teaches the basics of the working principles of modern digital technologies. Furthermore, the course introduces students to the use of the main tools of individual productivity. In particular, the objectives of the course can be divided into two main categories related to theoretical or practical aspects, as described below. - Theoretical aspects: understanding the concepts of

algorithm and computer program; understanding the combination of hardware and software components, that makes up modern digital devices especially those used in business. Understanding the main aspects of modern communication networks, the architecture of the web, and the features of the cloud computing. Understanding the concept of software application as a solution to specific problems. Understanding the basic concept of database and the potential of BigData analysis as a tool for decision support. Understanding computer security key concepts. Awareness of the perils arising from the use of malicious software and the exposure of corporate and/or personal sensitive information.

- Practical aspects: use of the most popular tools of office automation and individual productivity on a PC, with a focus on word processing, spreadsheets and presentations.

Textbooks: Za: Introduzione alle tecnologie informatiche e ai sistemi informativi aziendali, Corso di Informatica

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– Laurea triennale in Economia e Management, Centro di Ricerca sui Sistemi Informativi, Università LUISS Guido Carli, McGraw-Hill Create 2013 Other materials will be provided on the e-learning platform (CeRSI: www.cersi.it/corsi). Italiano: Introduzione alle tecnologie informatiche e ai sistemi informativi aziendali, Corso di Informatica – Laurea triennale in Economia e Management, Centro di Ricerca sui Sistemi Informativi, Università LUISS Guido Carli, McGraw-Hill Create 2011. Other materials will be provided on the e-learning platform (CeRSI: www.cersi.it/corsi). Bernaschi: Introduzione alle tecnologie informatiche e ai sistemi informativi aziendali, Corso di Informatica – Laurea triennale in Economia e Management, Centro di Ricerca sui Sistemi Informativi, Università LUISS Guido Carli, McGraw-Hill Create 2011 Other materials will be provided on the e-learning platform (CeRSI: www.cersi.it/corsi). 7a E3-CF8a-B: CORPORATE FINANCE Spring semester; 70 lectures; 7 hrs per week; 8 credits 1. The role of corporate finance. 2. Financial analysis and planning. 3. A closer look at current value.

a. Current value and opportunity costs of capital. b. Value of shares. c. Investment decisions.

4. Risk and capital budgeting. a. Risk and yield. b. Risk and capital budgeting. c. Problems with capital budgeting.

5. Financing decisions. a. Market efficiency. b. Models of corporate finance. c. Divided policy. d. Financial structure and Modigliani-Miller test. e. Financing and investment decisions.

Prerequisites: Accounting, Financial Mathematics

Other activities: practical work, cases analysis, individual project


Professor: Oriani

Learning Outcomes: The objective of the course consists in leading students to answer two fundamental questions: what investments should a business enterprise make and how should it fund them. The objectives of the course will be reached if, after the course and passing the exam, students will have a critical understanding of the main events that in reality are a feature of a firm’s financial managment.

Textbooks: Brealey R. A, Myers S.C., Sandri S., Principi di finanza aziendale, 7 ED, McGraw-Hill, Milano, 2015.

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7b E3-CF8b-B: CORPORATE FINANCE Fall semester; 72 lectures; 7 hrs per week; 8 credits 4. The role of corporate finance. 5. Financial analysis and planning. 6. A closer look at current value.

d. Current value and opportunity costs of capital. e. Value of shares. f. Investment decisions.

5. Risk and capital budgeting. d. Risk and yield. e. Risk and capital budgeting. f. Problems with capital budgeting.

6. Financing decisions. f. Market efficiency. g. Models of corporate finance. h. Divided policy. i. Financial structure and Modigliani-Miller test. j. Financing and investment decisions.

Prerequisites: Accounting


Assessment: written exam and oral exam (optional)

Professor. Mattarocci

Learning Outcomes: The objective of the course consists in leading students to answer two fundamental questions: what investments should a business enterprise make and how should it fund them. The objectives of the course will be reached if, after the course and passing the exam, students will have a critical understanding of the main events that in reality are a feature of a firm’s financial managment.

Textbooks: Brealey R. A, Myers S.C., Allen F., Sandri S., Principi di finanza aziendale, 7 ED, McGraw-Hill, Milano, 2015.

7c/d E3-CF8c/d-B: CORPORATE FINANCE Fall semester; 72 lectures; 7 hrs per week; 8 credits - The financial function in businesses - Present value and opportunity cost of capital - Valuation of investments - Risk, return and portfolio choices - Capital budgeting - The cost of capital and capital asset pricing model (CAPM) - Financial structure

Prerequisites: Accounting



Professor: Bozzi, Spinsi

Learning Outcomes: Teach students the basic elements required to analyse

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and tackle the main topics that a firm’s financial function deals with.

Textbooks: Brealey R. A, Myers S.C., Sandri S., Principi di finanza aziendale, 7 ED, McGraw-Hill, Milano, 2015 8 ENERGY ECONOMICS (in English) Fall semester; 72 lectures; 7 hrs per week; 8 credits; elective The program is divided into four parts. The first and the second part focus upon a deepening of the economic theory needed to understand the operation of the energy system. The third part deals with the general analysis of the energy system in a systematic way: demand, supply, costs, organization of markets, institutional interventions and regulation. In the fourth part there is a deeper analysis of special topics related to international markets and the energy and environmental policies. Class discussion is aimed at enlightening some ideas of the current literature for further reading.

Other activities: team works, business games

Assessment: written exam % 50 oral exam % 30 team work % 20

Professor: Bollino

Learning Outcomes: Provide historical and analytical foundations for understanding the most important phenomena of the international and Italian energy system

Textbooks: Required reading: C.A. Bollino, L’energia –Follia mondiale, Rubbettino,Roma, 2010 Pireddu G., Economia dell’energia. I fondamenti, Biblioteca delle Scienze, Pavia, 2009. Bhattacharyya, Subhes C., Energy Economics, Concepts, Issues, Markets and Governance, Springer Verlag Editor, 2011, XXVI, 721p. Suggested readings: Clò A., Il rebus enegetico, Il Mulino Contemporanea, Bologna, 2008. Stiglitz J. E., Economia del settore pubblico, Vol. I, Milano, Hoepli, 2005. Salvatore Carollo, C’era una volta il prezzo del petrolio, Milano, Scheiwiller, 2009 Moncada Lo Giudice G., F. Asdrubali, Fattore N, Armando Editore, Roma, 2010 Moncada Lo Giudice G., F Asdrubali, La sfida dell’energia, Franco Angeli, Milano, 2007 Da Empoli S., S. Bendettini, A. Fiorino, Analisi e impatto economico delle liberalizzazioni sul mercato energetico italiano e europeo, Icom Roma, 2010 Curcio E, S. Delli Colli, LA faticosa apertura del mercato elettrico, Quaderni Aiee, Eliconie Editore, Roma, 2004 Di Palma D., M. Lucentini, F. Rottenberg, IL business dell’efficneza energetica, Quaderni Aiee, Muzzio Editore, Roma 2006 Gilardoni A., The world market for Natural Gas, Springer, Berlino, 2008 9 ECONOMICS AND MANAGEMENT OF PUBLIC UTILITIES Spring semester; 72 lectures; 7 hrs per week; 8 credits; elective Based on an analysis of the fundamentals of the economy and of the organisation of public

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services, the course will review the main stages of evolution that these sectors have experienced in recent decades, as well as the evolution of political thought and means of intervention in public policies, from direct intervention of the State in economic activities to the wave of liberalisation and reform of the sector that characterised the 1980s and 1990s. In this context how the main liberalised markets actually work will be analysed and likewise the techniques to regulate the procedures for access to networks in a natural monopoly. A specific part will be devoted to studying in depth the electricity, natural gas, water, transport, telecoms and waste management sectors through a description of the organisation of the industry, the supply chain and the main factors of the business. Also the main issues in the management of networks and infrastructure in relation to the said utilities will be addressed. Finally, the course will briefly examine the methods of management of some crucial externalities like the environment and climate change.

Other activities: Case studies, role playing


Professor: Iacovone

Learning Outcomes: The course aims to analyse the objectives, instruments and effects of policy makers (national regulators, governments, supranational bodies) on the organisational structure of some markets/services, including in particular energy, transport, telecommunications, water and waste management.

Textbooks: - Spina, Maione, Lo Stato Regolatore, Il Mulino, 2000 - L. DEZI, A. GILARDONI, A. Miglietta, Testa F., Economia e management delle imprese di pubblica utilità, Cedam, Padova, 2005 For further studies: -Varian H R, Microeconomia, Cafoscarina, 2007 - Pearce D W, Turner R K, Economia delle risorse naturali e dell’ambiente, Il Mulino, 1991 Ulteriore testo consigliato: D. Iacovone, "I servizi di pubblica utilità tra Stato, Mercato, Regolatore e Consumatore", Il Mulino, 2014. Handouts and other materials will be provided during the semester.

10a ECONOMICS OF FINANCIAL MARKETS AND INSTITUTIONS Spring semester; 72 lectures; 7 hrs per week; 8 credits;

Outline of the theory of financial intermediation.

Interest rates and valuation of debt securities.

European Central Bank and monetary union.

Financial markets: money markets, bonds, shares, currency and derivatives.

Banks: business, regulation and statutory financial statements.

Other financial intermediaries.

The risks of financial intermediation: I and II pillar risks.

Basel 2 and 3 rules.

Other activities: Case studies, role playing


Professor: Cerri

Learning Outcomes: The course provides expertise in markets (money, bond, equity, currency and derivatives), instruments (securities and derivatives) and financial intermediaries (commercial

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banks and investment, insurance companies, pension funds, mutual funds and stock brokerages). The focus is on models of functioning of financial markets, the characteristics and functions of financial instruments, the nature and behaviour of financial intermediaries and methods of measurement and management of risks (credit, liquidity, interest rate, etc.) to which they are exposed. These elements are examined within the legal frameworks and regulations (e.g. Basel 2/3) that characterise the financial system.

Textbooks: Anthony Saunders, Marcia Millon Cornett, Mario Anolli, Barbara Alemanni Economia degli Intermediari finanziari Mc Graw-Hill Terza Edizione 2011 10b ECONOMICS OF FINANCIAL MARKETS AND INSTITUTIONS Spring semester; 72 lectures; 7 hrs per week; 8 credits; Analysis of the characteristics and functioning of financial markets. Theory of intermediation and function of financial intermediaries. Financial intermediaries: management, risks and regulation. Analysis of the characteristics of the non-banking intermediaries: management, risk and regulations.

Other activities: Guest speakers


Professor: Comana

Learning Outcomes: Knowledge of the basic notions about financial intermediation and the functioning of financial markets as well as the skills associated with managing financial institutions with special reference to profitability and risks. Learning about the technical, legal, financial and operational characteristics of the financial instruments negotiated by intermediaries.

Textbooks: Anthony Saunders, Marcia Millon Cornett, Mario Anolli, Barbara Alemanni, Economia degli intermediari finanziari, Mc Graw Hill, Terza edizione, 2011. 10c ECONOMICS OF FINANCIAL MARKETS AND INSTITUTIONS Spring semester; 72 lectures; 7 hrs per week; 8 credits; - Analysis of the characteristics and functioning of financial markets. - Theory of intermediation and function of financial intermediaries. - Financial intermediaries: management, risks and regulation. - Analysis of the characteristics of the non-banking intermediaries: management, risk and

regulations.

Other activities: Practical work, guest speakers


Professor: Pallini

Learning Outcomes: Knowledge of the basic notions about financial

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intermediation and the functioning of financial markets as well as the skills associated with managing financial institutions with special reference to profitability and risks. Learning about the technical, legal, financial and operational characteristics of the financial instruments negotiated by intermediaries.

Textbooks: Anthony Saunders, Marcia Millon Cornett, Mario Anolli, Barbara Alemanni, Economia degli intermediari finanziari, Mc Graw Hill, Terza edizione, 2011 10d ECONOMICS OF FINANCIAL MARKETS AND INSTITUTIONS Spring semester; 72 lectures; 7 hrs per week; 8 credits; - Analysis of the characteristics and functioning of financial markets. - Theory of intermediation and function of financial intermediaries. - Financial intermediaries: management, risks and regulation. - Analysis of the characteristics of the non-banking intermediaries: management, risk and

regulations.

Other activities: Practical work, guest speakers


Professor: Previtali

Learning Outcomes: Knowledge of the basic notions about financial intermediation and the functioning of financial markets as well as the skills associated with managing financial institutions with special reference to profitability and risks. Learning about the technical, legal, financial and operational characteristics of the financial instruments negotiated by intermediaries.

Textbooks: Anthony Saunders, Marcia Millon Cornett, Mario Anolli, Barbara Alemanni, Economia degli intermediari finanziari, Mc Graw Hill, Terza edizione, 2011 11 ENTREPRENEURSHIP, INNOVATION AND TECHNOLOGY (in English) Fall semester; 72 lectures; 3 hrs per week; 8 credits - elective

➢ Innovation sources and processes

➢ Taxonomy of innovation

➢ Sectoral patterns of innovation

➢ Geography of innovation

➢ Marketing innovation

➢ Organizing innovation

➢ Entrepreneur’s individual traits

➢ Entrepreneurial opportunities

➢ Entrepreneurship ecosystem

Prerequisites: Basics of Business Administration and Microeconomics

Assessment: Participation/short presentation (50%) and written exam

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(50%)

Other activities: Case studies

Professors: Prencipe, Souitaris

Learning Outcomes: The aim of this course is to provide students with theoretical and applied knowledge on the economics and organizational dimensions of innovation and entrepreneurship. The key learning objectives are: ➢ identifying sources, rate, and direction of technological change; ➢ understanding the role and challenges of innovation across sectors, countries, and organizations; > exploring entrepreneurship as a manageable process.

Textbooks: Papers as indicated per each session. 12a E2-FM16a-B: FINANCIAL MATHEMATICS Fall semester; 72 lectures; 7 hrs per week; 8 credits Financial transactions. The money market. Structure of prices and interest rates on the money market. Laws and financial regimes. Equivalent rates. Nominal rates. Yield at maturity. Compound financial transactions. Current values and amount of an annuity. Classification of an annuity. Current values and amounts under various financial regimes. Problems arising from fixed annuities: finding the current value, the instalment, the number of instalments, the interest rate. Time-based and variability indices. Setting up capital. General outline of the transaction. Typical problems in setting up capital. Amortisation of loans. Elementary and financial layouts. Amortisation methods. Usufruct and bare ownership. Divided loans. Amortisation of bond issues. Appraisal and choice of economic and financial projects. REA, TIR and TRM principles.

Prerequisites: Mathematics

Other activities: practical work


Professor: Olivieri

Learning Outcomes: This course aims to introduce students to the fundamental concepts of financial mathematics and to provide them the quantitative tools for the solution of financial problems in conditions of certainty.

Textbooks: Bortot, Magnani, Olivieri, Rossi, Torrigiani, Matematica finanziaria, 1998, Ed. Monduzzi. Iodice – “Compendio di Matematica Finanziaria” (Simone Editore – IV ed. – 2011); Other materials will also be provided during the semester. 12b E2-FM16b-B: FINANCIAL MATHEMATICS Fall semester; 72 lectures; 7 hrs per week; 8 credits

Financial transactions. Laws and financial regimes. Equivalent rates. Nominal rates. Structure of prices and interest rates on the capital market. Yield at maturity. Compound financial transactions. Current values and amount of an annuity. Classification of an annuity. Problems

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arising from fixed annuities: finding the current value, the instalment, the number of instalments, the interest rate. Divided loans in the form of bonds. Bootstrapping. Time-based and variability indices. Appraisal and choice of economic and financial projects. REA, TIR and TRM principles. Valuing loans, usufruct and bare ownership. Amortisation of loans. Elementary and financial approach. Amortisation methods. Establishment of a capital.




Professor: Barone


Textbooks: BORTOT, MAGNANI, OLIVIERI, ROSSI e TORRIGIANI, “Matematica Finanziaria”, II edition, Monduzzi Editore, 1998. IODICE, “Compendio di Matematica Finanziaria”, IV edition, Simone Editore, 2011). Materials provided by the professor. 12c E2-FM16c-B: FINANCIAL MATHEMATICS Fall semester; 70 lectures; 7 hrs per week; 8 credits Fundamentals of the valuation of financial contracts. Amounts, time and risk. Temporal structure of the exchange of amounts, principal and interest. Contracts, trades and prices. Risks. Valuations in conditions of certainty. The exponential law. Returns and repayment plans. The internal rate of return of a financial transaction. Theories of the laws of financial equivalence. Financial transactions in the market. Value function and market price. Interest rate maturity structures. Temporal and variability indices. Interest rate swaps. The measurement of interest rate maturity structures. Assessments of arbitrage for variable rate plans. The evolution of maturity structures.



Assessment: 50% written and 50% oral exam

Professor: Mottura

Learning Outcomes: The course aims to lay the logical foundations for financial valuation, to provide the basics for the formalization of the markets and to measure the value and risk of financial contracts.

Textbooks: G.Castellani, M.De Felice, F. Moriconi, Manuale di finanza, Vol. I, Tassi di interesse. Mutui e obbligazioni, Il Mulino, 2005, Bologna

12d E2-FM16d-B: FINANCIAL MATHEMATICS Fall semester; 72 lectures; 7 hrs per week; 8 credits Financial transactions. Capital markets. Structure of prices and interest rates in capital markets. Laws and financial regimes. Equivalent rates. Nominal rates. Term yields. Structured financial

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transactions. Present value and future value of an annuity. Classification of annuities. Present and future value in different financial regimes. Issues concerning constant annuities: search for present value, instalments, number of instalments and interest rate. Temporal and variability indices. Establishment of a capital. General structure of the operation. Typical problems in establishing a capital. Repayment of loans. Basic and financial aspects. Repayment methods. Life interests and remainder interests. Assessment of economic/financial projects. The REA, TIR and TRM criteria.



Assessment: written (50%) and oral exam (50%)

Professor: Fersini


Textbooks: BORTOT, MAGNANI, OLIVIERI, ROSSI e TORRIGIANI, “Matematica Finanziaria”, II edition, Monduzzi Editore, 1998. IODICE, “Compendio di Matematica Finanziaria”, IV edition, Simone Editore, 2011). Materials provided by the professor. 13 HISTORY OF CORPORATIONS AND CORPORATE ORGANIZATION Fall semester; 72 lectures; 7 hrs per week; 8 credits; elective The Italian industry from the aftermath of the Second World War to current times, in the national economic system and in the international scenario.

Other activities: team works, case studies

Assessment: Oral exam

Professor: Castronovo

Learning Outcomes: Analysis and reflection on the factors of continuity and discontinuity in the Italian industrial system.

Textbooks: V. Castronovo, Storia economica d’Italia. Dall’Ottocento ai giorni nostri, Einaudi, Torino 2013, capitoli V, VI, VII e conclusioni. In aggiunta, uno a scelta fra i seguenti libri di testo: P. Battilani, F. Fauri, Mezzo secolo di economia italiana, Il Mulino, 2014 V. Castronovo, La sindrome tedesca. Europa 1989-2014, Laterza, 2014. A. Colli, I volti di Proteo. Storia della piccola impresa in Italia nel Novecento, Bollati Boringhieri, 2002 G. Di Taranto, L’Europa tradita. Lezioni dalla moneta unica, Luiss 2014, da accompagnare a G. Di Taranto, Lezioni dalla crisi, Luiss, 2012 E. Felice, Perché il sud è rimasto indietro, Il Mulino 2014 U. Gentiloni Silveri, Contro scettici e disfattisti. Gli anni di Ciampi 1993-2006, Laterza, 2014 A. Graziani, Lo Sviluppo dell'economia italiana. Dalla ricostruzione all’ moneta europea, Bollati Boringhieri, 2000 A. Lepore, La Cassa per il Mezzogiorno e la Banca Mondiale: un modello per lo sviluppo economico italiano, Rubbettino, 2014 A. Castagnoli, La guerra fredda economica. Italia e Stati Uniti, 1947-1989, Laterza, 2015.

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14 E3-HET20-B: HISTORY OF ECONOMIC THOUGHT Spring semester; 72 lectures; 7 hrs per week; 8 credits; elective

From Smith to Marx, from Keynes to Schumpeter, to contemporary theories, the course intertwines the past with modern reality and so highlights the relationship between the two levels of analysis.

Other activities: seminars


Professor: Di Taranto

Learning Outcomes: The course offers students a deep knowledge of the evolution of economic thought combined with the tools and theory to interpret the complex reality of today.

Textbooks: A. Roncaglia, La ricchezza delle idee. Storia del pensiero economico, Roma-Bari, Laterza, 2001. 15a/b/c/d E3-HEBO21-B: HISTORY OF ECONOMICS AND BUSINESS Spring semester; 72 lectures; 7 hrs per week; 8 credits; elective

The analysis of the global economics development, from classic model to contemporary globalization.



Professor: Di Taranto, Ferrandino, Lepore, Farese

Learning Outcomes: Offer students an overall view of global economic history and a comparison between the various models of industrialisation up to the recomposition of economic systems, capitalism and collectivism, through the process of globalisation.

Textbooks: Giuseppe Di Taranto, La globalizzazione diacronica, Torino, G. Giappichelli Editore, 2013. Ennio De Simone, Storia Economica. Dalla rivoluzione industriale alla rivoluzione informatica, Milano, FrancoAngeli, 2012. Giuseppe Di Taranto, L’Europa tradita, Roma, Luiss University Press, 2014. 16 E3-HuROM22-B: HUMAN RESOURCES ORGANISATION AND MANAGEMENT Fall semester; 72 lectures; 7 hrs per week; 8 credits; elective

Human resource strategy, organisational structure and function. Organisational behaviour and its determinants. Motivational theories and differentiation policies. The total rewards approach. The main processes in human resource management. Attracting, keeping and motivating personnel. The acquisition of human resources on the internal and external markets: the recruitment and selection process. Employer branding policies. Systems for valuing human resources: people value mapping and development systems. The management of remuneration: remuneration structure and its components. Fixed and variable remuneration. Incentives based on targets. Remuneration of executives and medium to long term incentives. Economic and financial participation.

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Other activities: case study, seminars, role playing, business games, team works, guest speakers


Professor: Gabrielli

Learning Outcomes: Provide a complete overview of the major issues influencing people management in complex organisations. The main objective of the course is the understanding of the strategies, policies and management tools of human resource management adopted by organisations to support their development. The course, based on rigorous theoretical and methodological approaches, allows students to look at various practices (e.g. recruitment and selection, compensation, training and development, etc.), tools and behaviour that is widespread in human resource management by examining more closely some of the most significant initiatives and experience gained in the field.

Textbooks: Gabrielli Gabriele, People Management, Teorie e pratiche per una gestione sostenibile delle persone, FrancoAngeli, Milano 2012. 17a/b/c/d E3-IE23a/b/c/d-B: INDUSTRIAL ECONOMICS Fall semester; 72 lectures; 7 hrs per week; 8 credits A. Part 1. Introduction.

1. The fundamentals of the market economy. Logic and limits. 2. Analysis methodologies: the Harvard school, the Chicago school and new theoretical

developments. 3. Sectors and markets. A. Marshall’s special theory of economic balance. The relevant

market. Industrial districts. Industrial classifications and sources of statistics. 4. The theory of the firm.

B. Part 2. Basic elements. 5. The theory of demand. 6. Structure and variations in production costs.

C. Part 3. The structure of sectors. 7. Concentration of the offer. Measurement. Cause and effect. 8. Entry barriers. 9. Differentiation. Effects of advertising spending. Product quality and innovation. Non-price

competition. 10. Diversification. 11. Vertical integration.

D. Part 4. Conduct of firms. 12. Competition. Contendible markets. Monopolies. Monopsony. Monopolistic competition. 13. Pricing policies. Techniques and strategies of ‘price maker’ firms. 14. Theory of the oligopoly. Collusive conduct. 15. Non-collusive conduct. Theory of the kinked demand curve. 16. Applications of game theory. 17. A dynamic competition model in imperfect markets.

E. Part 5. Industrial policies. 18. Aggregate demand as a factor of productivity. 19. Industrial policy in Italy. Public intervention. A historic period (1945-1980).

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20. Crisis in productivity and growth (1995-2010). 21. New trends in industrial policies. The regulation of markets and authorities. 22. Public and private ownership of businesses. Privatisation. 23. Protectionism.

Prerequisites: Microeconomics

Other activities: seminars,

Assessment: written exam (60%) and oral exam (40%) (Cassetta) written exam (80%) oral exam (20%) (Monarca) written exam (60%) oral exam (40%) (Meliciani and Pozzi)

Professor: Cassetta, Monarca, Meliciani, Pozzi

Learning Outcomes: The course is designed to introduce students to industrial economics and to develop their abilities to perform case studies and analysis. Industrial Economics represents the analytical framework for: strategic planning of firms operating in competitive markets, antitrust and competition policy, economic regulation and industrial policy.

Textbooks: Cassetta, Monarca and Pozzi: Carlo Scognamiglio Pasini (CSP.), Economia Industriale, LUISS University Press, 2012, per i capitoli segnalati. Dennis W. Carlton e Jeffrey M. Perloff (CP.), Organizzazione industriale, McGraw-Hill, 2013, indicated chapters. Chang, H.J. (2008), “Cattivi Samaritani. Il mito del libero mercato e l'economia mondiale”, UBE, Milano. Gobbo, F. e C. Pozzi (2005), ”Liberalizzazione e politica industriale”, Economia e Politica Industriale, n. 2, Franco Angeli, Milano. Gobbo, F. e C. Pozzi (2007), “Privatizzazioni: economia di mercato e falsi miti”, Economia italiana, n. 3, Roma. Meliciani: Carlo Scognamiglio Pasini (CSP.), Economia Industriale, LUISS University Press, 2012, indicated chapters. Dennis W. Carlton e Jeffrey M. Perloff (CP.), Organizzazione industriale, McGraw-Hill, 2013, indicated chapters. Bianchi, P. e C. Pozzi, (2010) “Le politiche industriali alla prova del futuro”, Il Mulino, Bologna, cap. 1. Pozzi, C., Quaglione, D. e A. Sarra (2013), “L’industria della carta in Italia tra globalizzazione e politiche industriali”, il Mulino, capp 1 e 3. Chang, H.J. (2011), “Industrial Policy: Can We Go Beyond an Unproductive Confrontation?”, in J. Lin e B. Pleskovic, (ed.), Annual World Bank Conference on Development Economics 2010, Global: Lessons from East Asia and the Global Financial Crisis, World Bank, Washington, DC. Chang, H.J. (2008), “Cattivi Samaritani. Il mito del libero mercato e l'economia mondiale”, UBE, Milano. Gobbo, F. e C. Pozzi (2005), ”Liberalizzazione e politica industriale”, Economia e Politica Industriale, n. 2, Franco Angeli, Milano. Gobbo, F. e C. Pozzi (2007), “Privatizzazioni: economia di mercato e falsi miti”, Economia italiana, n. 3, Roma. 18 INDUSTRIAL MARKETING

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Fall semester; 72 lectures; 7 hrs per week; 8 credits; elective 1) Features of BtoB Markets; 2) marketing strategies and marketing-mix (product-service, price, distribution, communication); 3) customer relations 4) case studies on i marketing research, marketing strategies, marketing-mix.


Professor: Gregori

Learning Outcomes: The course aims to develop students’ theoretical and operational knowledge regarding business-to-business marketing processes. In particular, the principles, models and techniques to develop strategic plans for B2B markets will be examined and students will be taught the schemes and basic tools for: 1. performing market analysis; 2. formulating a marketing strategy; 3. managing the marketing-mix (product or service, price, distribution, promotion); 4. monitoring the results of marketing efforts; and 5. managing customer relationships.

Textbooks: R. Fiocca, I. Snehota, A. Tunisini, Marketing business to business, McGraw-Hill, Milano, 2009. Saranno inoltre indicate alcune letture integrative. 19a/c E1-IPL25a/b/c/d-B: ITALIAN PRIVATE LAW Fall semester; 70 lectures; 7 hrs per week; 8 credits I. Preliminary concepts.

- Methodological, historical, legal and economic introduction to private law: private law in the theory of the legal system.

- Sources of law. II. Fundamental concepts.

- Individual legal rights and mere factual situations considered by law. - Legal events and acts. - Public notice of legal events. - Statute of limitations and lapse.

III. Persons to a legal relationship. - Natural persons. - Legal persons.

IV. Ownership, minor real rights and possession. V. Obligations.

- The sources of obligation. - The rules governing obligations in general. - Contracts in general. - The most important single typical contracts. - Civil liability (precontractual, contractual and tortious). - Other acts or events giving rise to obligations.

VI. The judicial protection of rights. VII. Family, gifts and inheritance.

Other activities: seminars, practical work, guest speakers


Professor: Pardolesi, Troiano

Learning Outcomes: The course aims to provide students with the basic notions

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and principles of that part of the law intended to regulate private parties’ relationships, with particular emphasis on the economic analysis of law approach, which will be fostered at dedicated tutorials.

Textbooks: F. Di Ciommo, Manuale di diritto privato, parte I, Torino, Giappichelli ed., 2010. V. Roppo, Diritto privato. Estratto, Torino, Giappichelli, 2014. Civil code, updated version. 20a/b/c/d/e E1-IPL26a/b/c/d-B: ITALIAN PRIVATE LAW Fall semester; 72 lectures; 7 hrs per week; 8 credits Introductory concepts. Legal rules. The sources of law. Concepts of private law. The interpretation of law and analogy. General outline of the law governing persons, the family and succession. Real rights: ownership, possession and real rights of enjoyment. Obligations: performance, breach, various matters affecting obligations, monetary and joint obligations, protection for creditors and security for performance. Contracts: the contract in general, formation and matters affecting the contract, single typical contracts. Tort and other sources of obligation. The protection of rights. Registration, real security rights, actions to defend security, and statute of limitations.

Other activities: seminars, practical work, guest speakers

Assessment: oral exam written tests during the semester

Professor: Pardolesi, Carleo, Di Ciommo, Di Gravio, Troiano

Learning Outcomes: The course aims to provide students with knowledge of the key concepts of that part of the law that regulates relationships between private parties and that will be useful for them in their economic studies and in the careers that they decide to pursue.

Textbooks: Carleo: R. CARLEO, S. MARTUCCELLI, S. RUPERTO (a cura di), Istituzioni di diritto privato, Dike giuridica, Roma, 2014, or a choice between: M. BESSONE (a cura di), Lineamenti di diritto privato, Giappichelli, Torino, latest edition; F. GALGANO, Diritto privato, CEDAM, Padova, latest edition; F. GAZZONI, Manuale di diritto privato, ESI, Napoli, ultima edizione; P. PERLINGIERI (a cura di), Manuale di diritto civile, ESI, Napoli, latest edition; P. RESCIGNO, Manuale del diritto privato italiano, Jovene, Napoli, latest edition; V. ROPPO, diritto privato, Giappichelli, Torino, latest edition; A. TORRENTE, P. SCHLESINGER, Manuale di diritto privato, Giuffrè, Milano, latest edition; A. TRABUCCHI, Istituzioni di diritto civile, CEDAM, Padova, latest edition; P. TRIMARCHI, Istituzioni di diritto privato, Giuffrè, Milano, latest edition; P. ZATTI, V. COLUSSI, Lineamenti di diritto privato, CEDAM, Padova, latest edition. Other five lessons to be studied. Autori vari, Dieci lezioni introduttive a un corso di Diritto Privato, UTET, 2006.

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Di Ciommo: F. Di Ciommo, Manuale di diritto privato, Giappichelli Editore, Torino, 2010. E. Roppo, Manuale di diritto, Editio minor, Giappichelli Editore, Torino, 2011. Jurisprudence. Di Gravio: Trimarchi, Istituzioni di diritto privato, Giuffrè, latest edition, excluding chap. XL; chap. XLI; §§ 337 and 338 of chap. XLII; chap. XLIII; §§ from 364 to 372 of chapter XLVII; chapters from LVIII to LXXIII. Zatti Colussi, Lineamenti di diritto privato, Cedam, latest edition, Excluding chapters from 31 to 33; chapter from 35 to 49; chapter 52 and 53. Galgano, Istituzioni di diritto privato, Cedam, latest edition, excluding chapters from 24 to 26. Torrente – Schlesinger, Manuale di diritto privato, Giuffrè, latest edition. Excluding: §§ 380 e 381 of chap. XLII; chap. XLVI; chap. L; §§ from 429 to 435 of chap. LI; chapters LII and LIII; chapters from LVI to LXXX. AA.VV. Dieci lezioni di Diritto Privato, UTET, 2006 (five lessons at choice of the students). 21a/d E3-MEP28b-B: MACROECONOMICS Spring semester; 70 lectures; 7 hrs per week; 8 credits Introduction to macroeconomics and basic notions of government accounting. The market for goods. The Keynesian cross model. The IS curve. Financial markets. The quantity theory of money. Money supply. The LM curve. The short term. The IS-LM model, the effects of monetary and fiscal policy and the construction of the aggregate demand curve. The IS-LM model in an economy open to foreign trade. The labour market. Unemployment. The short term. The AD-AS model, demand equilibrium and aggregate supply. Implications of economic policy. The dynamic AD-AS model. The trade-off between inflation and unemployment. The Phillips curve. Expansion of the money supply and inflation. Deflationary policies. Economic growth. The Solow model. Technological progress. Public debt dynamics and sustainability. Analysis of aggregate income stabilisation policies: monetary and fiscal policy.

Other activities: Practical works

Assessment: Written exam

Professor: Reichlin, Nisticò

Learning Outcomes: The course is an introduction to macroeconomics, the discipline that seeks to explain trends over time of aggregate economic variables: national income, consumption, savings, investment, interest rates, money and the stock of capital. Students will learn how economists answer questions like: What determines economic growth, wealth and welfare in the long-run? Why are modern economies subject to cycles in which recessions are followed by expansions? What drives inflation and unemployment? What kinds of economic policies (monetary and/or fiscal) can be pursued in order to increase national income and reduce inflation and unemployment?

Textbooks:

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N. G. Mankiw, M. Taylor, Macroeconomia, quinta edizione, Zanichelli 21b E3-MEP28b-B: MACROECONOMICS Spring semester; 70 lectures; 7 hrs per week; 8 credits

After studying government accounting, the course will analyse the basic macroeconomic model for a closed economy and full employment. Then a long-term growth model will be analysed. Subsequently, the course will examine the IS-LM model of closed and open economies and then the demand for aggregate supply and demand. Finally, stabilisation policies will be analysed. The course includes a series of tutorials, using numerical examples, on matters discussed at lectures.

Assessment: Practical works, Written exam

Prerequisites: Microeconomics, Mathematics

Professor: Pandimiglio

Learning Outcomes: The course is an introduction to macroeconomic analysis, the discipline that studies the economic system as a whole and seeks to interpret and forecast aggregate variables like gross domestic product, unemployment levels, inflation and exchange rates. Those variables are fundamental in the functioning of an economy and the policies designed to improve the welfare of society must necessarily understand them. The course will begin with the study of the economy in the long run in order to attempt to answer questions like: Why do some economies grow faster than others? Thereafter, economic fluctuations in the short and medium term will be analysed and likewise the policies that can be adopted to limit the effects of those fluctuations.

Textbooks: Mankiw, N.G, Taylor, M. P. Macroeconomia, 2011 ed. Zanichelli 21c E3-MEP28b-B: MACROECONOMICS Spring semester; 70 lectures; 7 hrs per week; 8 credits

(1) Introduction to macroeconomics, definition, measurement and analysis of data.

(2) Market for goods and market for money: the IS-LM model. (3) The labour market. (4) The aggregate demand and aggregate supply curve: the AD-AS model. (5) The natural rate of unemployment and the Phillips curve. (6) Money and inflation. (7) Economic growth. (8) Open economies in the short term and the various foreign exchange systems. (9) Financial crises: causes and consequences.

Prerequisites: Micronoeconomics


Professor: Vallanti

Learning Outcomes: The course is an introduction to macroeconomics and the analysis of economic policy. After having studied the fundamental variables of national accounting, the course will move on to introduce the macroeconomic models that are

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used to study economic fluctuations, economic growth in the long run, financial crises, debt and unemployment. Special attention will be paid to public policies and their effects on the economy.

Textbooks: Macroeconomia, una prospettiva europea, di Blanchard, Amighini e Giavazzi, edizione 2011, ed. il Mulino Esercizi di macroeconomia. Guida allo studio del testo di Olivier Blanchard di D. W. Findlay, ed. il Mulino. 22a/b/c MANAGEMENT Spring semester; 72 lectures; 7 hrs per week; 8 credits;

1. The firm as a system and the importance of its relationship with the environment. - Environmental conditions and business performance. - Analysis of the external environment (and forces of competition). - The concept of strategic grouping. - The contents of the competitive environment and the tools for business analysis. 2. The firm as an ensemble of resources. - Important resources and competencies. - Strategy based on resources. 3. Competitive strategies. - Competitive advantage. - Competitive strategies. 4. Strategic planning. - Corporate planning. - Business planning - Planning at functional level. 5. Business functions. - Management of operations. - Innovation as a strategic function. - Marketing. - Finance and value creation.


Professor: Pirolo, Leone, Caroli

Learning Outcomes: Provide students with the ability to: 1. interpret and understand the functioning of a business organisation and the ways it interacts with the external environment; 2. use tools for analysing and devising business strategy in competitive contexts and various markets; 3. evaluate the competitive position of a business and use the tools for improving it; 4. devise the strategic choices linked to the principal business functions.

Textbooks: Pirolo: To be provided by the lecturer. Leone and Caroli:

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Fontana F., Caroli M. G., Economia e Gestione delle Imprese, McGraw-Hill 22d MANAGEMENT Spring semester; 72 lectures; 7 hrs per week; 8 credits; This is a course on the fundamentals of management. As it is the first course for students of the bachelor’s degree program, the principles of corporate management are introduced commencing from the models and theories of enterprise which is mentioned in the economic policy course. The main contents however relate to: the firm in the context of socio-economic and competitive systems; the processes of analysis, strategic management and entrepreneurial innovation; the management of key business functions such as marketing, finance, production, research and development, and management of human resources. Particular emphasis, finally, is placed on the systems and processes for measuring economic, financial, strategic, organisational and commercial performance.

Assessment: Oral exam (75%) and team work (25%)

Professor: Marino

Learning Outcomes: The course will give students a solid grounding in theories, models and issues concerning business administration. Commencing from the principles of business management, the course will develop knowledge concerning analysis of environmental, competitive and organisational factors combined with knowledge about devising strategies and executing them through the main business functions. In order to reinforce the learning process, there will be case studies and guest speakers from the business community.

Textbooks: Fontana F., Caroli M.G., (a cura di), Economia e Gestione delle Imprese, McGraw-Hill, 2012 (libro di testo) 23 MANAGEMENT CONTROL Fall semester; 72 lectures; 7 hrs per week; 8 credits; elective Instruments and process of business control.

Other Activities: lectures, seminars, team work, guest speakers

Assessment: written exam and possible oral exam

Professor: Bastia

Learning Outcomes: The course will teach students the fundamental features of planning and controls systems and how they contribute to the work of management, knowledge transfer and the building of a corporate culture. Also analysed are the computerised tools for planning and controls systems.

Textbooks: Sistemi di pianificazione e controllo – Il Mulino – P. Bastia. 24 MARKET AND DISCIPLINE OF COMPETITION Fall semester; 70 lectures; 7 hrs per week; 8 credits; elective

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The course aims at presenting a comparative picture of the laws of competition. Competitive and open markets are deemed to raise economic growth and standards of living and benefit consumers by ensuring lower prices and a greater variety of goods and services. Despite scattered doubts and criticisms, the prevailing view holds that competition policy plays a fundamental role in boosting the competitiveness of national economies, as well as in fostering a country’s openness to foreign trade, to the full advantage of final consumers.

By pursuing the overarching goal of efficient resource allocation, competition rules have thus become a cornerstone of advanced economies. Several developed and developing countries have followed suit, and antitrust policy has rapidly become a pillar of economic policy in more than a hundred countries world-wide. The attention will be obviously focused on the pivotal models of the US and EU, knowing how the US and EU jurisdictions have grappled with the standard set of antitrust problems goes a long way toward understanding how antitrust analysis is done in the rest of the world too. But special attention will be devoted to the emerging systems, above all to the new Chinese Law and its first applications.

The idea developed in the course is that the only way of coping with antitrust problems is to understand the basic economic issues touched upon by the various legal doctrines currently deployed in the adjudication of the competition cases. The legal analysis is thus systematically introduced, and accompanied, by an in-depth evaluation of the underlying economic facts.


Professor: Pardolesi

Learning Outcomes: The objectives of the course are: 1.to understand the main tenets of competition law, in its various origins and how it relates to the overall economic framework; 2.to analyse how competition law has been interpreted over time, with special attention devoted to the influence that the main schools of economic thought have exerted on it; 3.to develop a heightened awareness of the interaction between law and economics in the antitrust field, as a special vantage point for better understanding the interface between the two approaches; 4.to explore the methods and critical issues surrounding the adoption of entire systems of law.

Textbooks: Cristoforo Osti, Diritto della concorrenza, Il Mulino, Bologna 2007 Mario Libertini, Diritto della concorrenza dell'Unione europea, Giuffrè, Milano, 2014. 25a/b/c/d E3-Ma29-B: MARKETING Fall semester; 70 lectures; 7 hrs per week; 8 credits Marketing management is a set of processes aimed at creating economic and social value for consumers, citizens, businesses and organisations. The course will deal with analytic and decision processes as well as with the implementations of decisions and metrics to assess economic and market performance. Commencing from the very meaning of marketing, both as a scientific discipline and as a "viable" tool in businesses and organisations, the course focuses on the analysis of demand, on research, on marketing strategies, on the management of the main processes of marketing and on some "special" issues, i.e. ones of particular relevance and topicality. In further detail, the course aims to develop the student's ability to understand:

the way in which companies can analyse market demand, both in B2B and B2B contexts;

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changes in the purchasing behaviour of consumers, individuals, families and organisations, and those underlying the development of relations with customers;

the logic and methods through which market research is conducted in the wider information system on customers and competition;

the process of analysing and defining marketing strategies with reference to the segmentation-targeting-positioning trilogy;

the management of products, brands, distribution channels, marketing communication and pricing policies;

models and processes for marketing planning;

models and tools to measure marketing performance;

approaches and models to manage the "digital transformation" of marketing management;

the complex theme of economic, environmental and social sustainability and how to tackle and manage their proper balance.

Assessment: team work (20%) written exam (80%)

Professor: Marcati, Romani/Rullani, Costabile, De Angelis

Learning Outcomes: The course deals with marketing management foundations, such as processes, models, tools and techniques that support analyses, decision and management of marketing activities. The objective of the course is to provide students with basic and fundamental marketing knowledge. This will be done, however, by integrating multidisciplinary concepts that allow students to have a rigorous approach to the study of marketing processes. Such a rigorous approach will be deployed through the study of the analytic and quantitative tools that qualify contemporary marketing. Therefore, the course will be particularly appealing for both those students who are interested in gaining the needed background to successfully deal with more advanced and specialised marketing courses and those students interested in specialising in business management areas other than marketing, general management included.

Textbooks: P. Kotler, K. Keller, F. Ancarani, M. Costabile, (2012), Marketing Management, Pearson Italia.

26 MARKETING OF SERVICES Fall semester; 70 lectures; 7 hrs per week; 8 credits; elective - Services vs. products. - Consumption behaviour in services. - Value & selling proposition. - Strategic segment. - Brand management. - Commercial business model. - Delivery. - Brand touch points. - Operational road map. - The Marketing Plan. - Business case studies.

Assessment: team work, written exam

Professor: Devetag

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Learning Outcomes: Learning to apply the main tools of strategic and operational marketing to the services sector. Learning how to devise a marketing plan for a business in the services sector. Understanding the logic underlying consumer behaviour, especially as regards the perceived quality of a brand.

Textbooks: Marketing dei servizi, McGraw-Hill, 2012, di Zeithaml, Bitner, Gremier e Bonetti (third edition)

27a E1-Mat30a-B: MATHEMATICS Fall and Spring semester; 70 lectures; 7 hrs per week; 8 credits Natural, whole, rational and real numbers. Vectors and matrixes: linear combination and linear independence, dimension and base. Determinants and characteristics. Linear systems and the Rouché-Capelli theorem. Elements of analytical geometry in the plane and in space. Straight line topology and multidimensional Euclidean space. Functions in more than one variable: general. Exponential and logarithmic functions. Circular functions (aspects of trigonometry). Successions and limits, indeterminate forms. Nepero's constant. Numerical series and convergence criteria. Function limits, infinites and their comparison. Asymptote. Continuous functions. Derivative: definition, calculation and applications. Differential, Taylor's polynomial and series. Maxima and minima for functions of more than one variable. Fixed endpoints. Gradient. Integrals (definite and indefinite) and main methods of calculation. Improper integrals.


Assessment: 10% written and 90% oral exam

written tests during the semester

Professors: Cacciafesta

Learning Outcomes: The course aims to provide students with a range of mathematical tools to understand and resolve numerous theoretical and practical problems in an economic and business context.

Textbooks: F. Cacciafesta, Matematica generale, ed. Giappichelli. 27b E1-Mat30b-B: MATHEMATICS Fall/Spring semester; 70 lectures; 7 hrs per week; 8 credits Functions. Examples of basic properties. Function limits. Methods for calculating limits. Continuous functions of a variable. Basic properties of continuous functions. Theorems on continuous functions. Definition of derivatives. Theorems on derivable functions. Maximums and minimums of functions and methods for determining them. Search for zeros. Succession and series. Introduction to integral calculus. Vectors and operations on vectors. Linear dependence and independence. Rouché-Capelli theorem on linear systems. Method for calculating the range and solutions of a linear system: Gauss-Jordan and determinants. Functions of more than one variable: restrictions, partial and directional derivatives, gradient and

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examples. Methods for determining the maximum and minimum of functions with more than one variable in simple cases.



Professors: Papi

Learning Outcomes: The course aims to provide the first year students in economics the basic mathematical tools that they will need to deal with a large set of applied problems in economics, finance and insurance. A scientific method for approaching and resolving problems is also introduced. At the end of the course students must be able to solve standard exercises which often appear in applications. During the course examples to explain the usefulness of the tools learnt will be given.

Textbooks: Peccati – Salsa – Squellati, Matematica per l’economia e l’azienda, ed. Egea, Milano; Castellani – Gozzi, Esercizi di matematica per l’economia e l’azienda, ed. Esculapio, Bologna, 2001. 27c E1-Mat30c-B: MATHEMATICS Fall/Spring semester; 70 lectures; 7 hrs per week; 8 credits Natural numbers, integers, rational numbers and real numbers. Vectors. Matrices. Systems of linear equations. Real function of real variable. Elementary functions. Elements of traight line topology. Successions. Limits of functions. Continuous functions. Derivatives. Integrals. Bivariate functions. Series.


Professors: Staffa

Learning Outcomes: The course aims to provide students with a range of mathematical tools to understand and resolve numerous theoretical and practical problems in an economic, financial and business context.

Textbooks: Guerraggio – Matematica – Pearson. 27d E1-Mat30d-B: MATHEMATICS Fall/Spring semester; 70 lectures; 7 hrs per week; 8 credits Linear equation systems: vectors, matrixes, solutions to parametric and other systems. Real functions of one real variable: simple functions, composite functions, limits, continuity and derivability. Integrals. Immediate integrals, methods of exact integration by parts and replacement, improper integrals and numerical methods of integration. Succession, series and approximation of functions. Ordinary differential equations: separable variable equations, homogeneous and heterogeneous linear equations.

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Real functions of more than one variable and vector functions. Free endpoints, fixed endpoints, Pareto optimality. Outline of the system of differential equations, partial differential equations, finite differential equations and multiple integrals.



Professors: Scarlatti

Learning Outcomes: The course aims to provide the first year students in economics the basic mathematical tools that they will need to deal with a large set of applied problems in economics, finance and insurance. A scientific method for approaching and resolving problems is also introduced. At the end of the course students must be able to solve standard exercises which often appear in applications. During the course examples will be given to explain the usefulness of what has been learnt. In conclusion, the aim is that students who complete the course will learn: 1. what they can do with maths; 2. what can be done in some simple cases.

Textbooks: (G): Angelo Guerraggio “Matematica” Pearson (2009)seconda ediz. Exercise: Castellani – Gozzi “Matematica di base per l’Economia e l’Azienda – Esercizi e testi d’esame svolti”, ed. Esculapio Bologna 27e E1-Mat30d-B: MATHEMATICS Fall/Spring semester; 70 lectures; 7 hrs per week; 8 credits Univariate functions: limits, continuity, derivatives, integrals, finding optimums. Bivariate functions: continuity, partial derivatives, finding optimums. Matrices and systems of linear equations.



Professors: Dall’Aglio

Learning Outcomes: The course aims to provide the first year students in economics the basic mathematical tools that they will need to deal with a large set of applied problems in economics, finance and insurance. A scientific method for approaching and resolving problems is also introduced. At the end of the course students must be able to solve standard exercises which often appear in applications. During the course examples to explain the usefulness of the tools learnt will be given.

Textbooks: Angelo Guerraggio, Matematica (2 ed), Pearson Italia

28 MARKETS AND STRATEGIES (in English)

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Spring semester; 72 lectures; 7 hrs per week; 8 credits; elective The course will focus on trying to flesh out a set of complicated answers to a very simple question: “what allows certain firms to persistently earn positive economic profits, while others deliver negative returns and ultimately are forced to exit the market?” The answers will involve analysing the basic competitive structure of different types of markets, and the managerial decision-making tools that allow a firm to make the best use of available resources and develop a sustainable competitive advantage. Topics covered will include: − Market structure and competition − Entry and exit − Technological change and network externalities − Path dependence and lock-in − Game theory and strategy − Resource based view of the firm − Value added analysis − Strategic groups and firm profitability − Competitive strategy in network and information industries

Other activities: traditional lecture, individual exercices, team works,

cases studies, presentations and assignments

Assessment: written test 33% oral final exam 33% team work executed during the course) 34%

Professors: Devetag

Learning Outcomes: The course will aim to provide students with a set of tools that are useful in strategic analysis, and a basic understanding of when those tools can be used and what their limitations are.

Textbooks: Besanko, D. Dranove, M. Shanley, Economics of strategy, Wiley, New York, 2007 Grant, R. (2009), Contemporary Strategy Analysis, seventh edition, John Wiley & Sons, Inc. Schilling, M. (2006), Strategic Management of Technological Innovation, New York, McGraw-Hill. Paper list (see extended program) ps. please, note that the extended program and the list of reading material are subject to change 29 METHODOLOGY OF SOCIAL SCIENCES Fall semester; 72 lectures; 7 hrs per week; 8 credits; elective General Part. Critcs of induttivism and of osservativism. Creativity in science. Logics asymmetry Popper-Hempel model and sciences division. Explanation and comprehension. Critc rationalism (Popper) ed Ermeneutics (Gadamer). Special Part. Mandeville, the scottish moralist movement and the birth of the social sciences. Unintentional consequences of intentional human actions as objects of the social sciences. The theory of evolution of social institutions. Evoluzionism and utilitarism. French positivist sociology francese v. political economy. The theory of general economic equilibrium, and “austrian” critics. “Austrian” influence on Max Weber’s work. Market and economic calcolus.. Knowledge, market, entrepreneurship. Rational growth and economic development.

Other activities: lectures


Professors: Infantino

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Learning Outcomes: The course aims to provide students with the epistemological foundations required for social sciences and in particular economics. The economists who have addressed methodology very clearly show the link between methodological premises and theoretical propositions. Such a link exists even if it is not declared. Every scholar, consciously or not, uses a methodology. To cast light on this it means unearthing the problems that generate theories.

Textbooks: L. Infantino L., L’ordine senza piano, Armando, Roma, 2008 L. Infantino L., Individualismo, mercato e storia delle idee, Rubbettino, Soveria Mannelli, 2008. L. Infantino, Ignoranza e libertà, Armando, Roma, 1999 (only chapters 1-2-3). 30a/c/d/e MICROECONOMICS Spring semester; 72 lectures; 7 hrs per week; 8 credits;

THEORY OF DEMAND

Consumer preferences (axiomatic approach, cardinal and ordinal function of utility, and indifference curve). Maximisation of utility and individual functions of demand. Comparative static analysis. Price effect, substitution and income, normal goods, inferior goods and Giffen goods. Elasticity of demand. Labour supply. Intertemporal choice and financial markets. Choices in conditions of uncertainty. The function of expected utility. Risk aversion. Insurance markets.

THEORY OF PRODUCTION

Technology: input and output. Technological constraints. Properties of technology. Scale yields. Short run and long run.

BUSINESS OBJECTIVES

The organisation of business. Maximisation of profit in the short-term and long-term. Demand curve of the factors of production. The minimisation of costs in the short run and long run. The function of business cost. Total costs, fixed costs and variable costs. Medium and marginal costs. Short-term and long-term costs.

FORMS OF MARKET

Perfect competition. The offer of a competitive firm. The industry offer. Short-term and long-term equilibrium. Monopolies: maximisation of profit; linear demand curve and monopoly; inefficiencies of monopolies and net loss. Natural monopolies. Monopolistic behaviour: price discrimination and dual tariffs; product differentiation; monopolistic competition. Oligopolies: choosing a strategy; quantity leadership; price leadership; followers; the Cournot duopoly; collusion.

Game theory: payoff matrix of a game, the Nash equilibrium, mixed strategies, and the prisoner’s dilemma.

GENERAL ECONOMIC EQUILIBRIUM

The Edgeworth box and the equilibrium of pure exchange. Pareto optimality.General economic equilibrium with exchange and production.The theorems of welfare economics.


Professors: Sobbrio, Giordani, Marengo, Landini

Learning Outcomes: The goal of the course is to provide students with the

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logical-analytical tools necessary to understand individual consumption and production choices under different institutional setups and in both situations of certainty and uncertainty. During the course the functioning of the market and its allocative properties will also be analysed. This knowledge constitutes the basic framework necessary to continue studying economics. Moreover, it helps the student in analysing economic phenomena in order to form an informed opinion of economic reality.

Textbooks: Varian, H. (ultima edizione), Microeconomia, Cafoscarina. Pandimiglio, A. – Spallone, M. Problemi di Microeconomia, Cedam, 2011. 30b MICROECONOMICS Fall semester; 72 lectures; 7 hrs per week; 8 credits; Theory of consumption. Theory of production. Markets forms. Games theory. Price discrimination. General economic equilibrium.


Assessment: written exam (90%) oral exa (10%)

Professors: Di Cagno

Learning Outcomes: The purpose of the course is to provide intermediate level knowledge and tools to interpret economic phenomena at the microeconomic level. The course is divided into two conceptually distinct parts. The first addresses issues related to consumption and production choices. The second analyses in greater depth the forms of market structure and the strategic behaviour of economic agents, with particular attention to applications relating to oligopolistic markets. In addition, the course analyses the theories of price discrimination and the general economic equilibrium.

Textbooks D.A. Besanko – R.R. Braetigam, Microeconomia, McGraw-Hill (ultima edizione). Per approfondimenti si consiglia H.R. Varian, Microeconomia, Cafoscarina (ultima edizione) e A. Pandimiglio e M. Spallone, Problemi di microeconomia, Cedam (2011). 31 E3-MCE32-B: MONETARY AND CREDIT ECONOMICS Fall semester; 72 lectures; 7 hrs per week; 8 credits; elective The course examines the function of currency, the role of financial brokers, and the management and transmission of monetary policy in modern industrialised economies, with special emphasis on the European Central Bank and the Federal Reserve. Students are expected to have acquired basic concepts of general mathematics, statistics, microeconomics and macroeconomics.

Prerequisites: Macroeconomics, Microeconomics, Mathematics, Statistics


Assessment: written exam with possible oral exam

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Professors: Di Giorgio

Learning Outcomes: Understanding of the main relationships between money, credit and the economic and financial system. Knowledge of the institutional and operational mechanisms of monetary policy and regulation of the financial and credit sectors.

Textbooks: Di Giorgio G., Lezioni di economia monetaria, Cedam, Padova, 2013; Di Giorgio G., A. Pandimiglio, S. Nisticò, Problemi di Economia e Politica Monetaria, Cedam, Padova. Other readings will be provided during the semester. 32a E1–PEL35a-B: PUBLIC ECONOMIC LAW Spring semester; 72 lectures; 7 hrs per week; 6 credits General Part: 1. Constitution and constitutionalism. 2. Civil society, law and the State. 3. The separation of powers. 4. The sources of law. 5. Interpretation. 6. The legislature. 7. The executive. 8. The judiciary. 9. Public administration. 10. Administrative discretion. Special Part: 1 Historical overview of the evolution of public intervention in the economy: from the guardian State to the regulatory State. General aspects of the economic role played by public bodies in the age of globalisation and federalist or quasi-federalist structures of public power. 2. The fundamental principles on economic matters in the Italian Constitution and the EC Treaty. Constitutional freedom of enterprise. 3. The Single European Market, its organisation and tools for accomplishing it. The “four freedoms”, EU competition law and limitations on State aid to business. 4. The domestic market and national competition law. 5. Direct State intervention in the economy: the model of public enterprise. The public economic law tools at the time of Massimo Saverio Giannini and subsequent developments. 6. Public services. Concept and traditional regime. Regulation of thee single sectors: from national services to local services. The paradigm of universal service. 7. The phenomena of privatisation, liberalisation and regulation. Independent administrative authorities.


Professor: Montedoro

Learning Outcomes: The course not only addresses the topics typical of a traditional course on general public law (Constitution and constitutionalism, separation of powers, sources of law and interpretation of the rules) but also seeks to provide an outline of the various models through which regulatory intervention in the economy occurs. The course will study the various models of public enterprise, their special features as well as privatisation. One of the most significant aspects from this point of view concerns the gradual liberalisation of the sectors previously subject to a public monopoly in favour of a regulated and increasingly competitive system. It is important to understand the impact on our system stemming from EU integration: the Community freedoms, state aid and competition rules are the basic pillars of the "new economic constitution." Special attention will also be paid to the analysis of change forced on public economic law by the current global recession and financial markets crisis.

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Textbooks: General part: one of the following: P. Barile – E. Cheli – S. Grassi, Istituzioni di diritto pubblico, XIII edizione, Cedam, 2011; P. Caretti – U. De Siervo, Istituzioni di diritto pubblico, X edizione, Giappichelli editore, 2010; R. BIN – G. Pitruzzella, Diritto pubblico, IX edizione, Giappichelli editore, 2011 Special art: one of the following: S. Cassese, La nuova Costituzione economica, Laterza, Bari – Roma, ultima ed.; G. Di Gaspare, Diritto dell’economia e dinamiche istituzionali, Cedam, Padova, ultima ed.; G. Montedoro, Mercato e potere amministrativo, Editoriale scientifica, Napoli, 2010

32b E1–PEL35b-B: PUBLIC ECONOMIC LAW Spring semester; 72 lectures; 7 hrs per week; 6 credits

Theory of social groups. Social groups in the legal system. The structure of the legal system. Power and its types. The techniques for the division of power. The forms of exercise of power. Legal rule and order. Persons. Interests. Goods. Individual legal situations. Legal facts. Human behaviour. Legal effects. Liability. Levels of government (international, EU, national and local). Organisation of public power. Public functions (policy-making, law-making, administration and administration of justice). The Italian legal system and the principles regulating its political, legislative, administrative and judicial activities. Constitutional freedom of enterprise.

Other activities: Seminars, case studies


Professor: Lemma/Troisi

Learning Outcomes: The course aims to introduce students to the knowledge of the Italian legal system, as regards its essential and distinctive features, with a close examination of issues related to the State’s role in the management of economic relations. It will highlight the exercise of public functions in relation to economic freedoms protected by the Constitution and by citizen participation, under local, national and supranational law.

Textbooks: Rossano, Manuale di diritto pubblico, Jovene, Napoli, 2012; 32c E1–PEL35c-B: PUBLIC ECONOMIC LAW Spring semester; 72 lectures; 7 hrs per week; 6 credits

The initial part of the course concerns the Constitution (general principles, freedoms, organisation of the State) and EU treaties before then concentrating specifically on the economic issues that they raise (constitutional freedom of enterprise, federalism, EU and national budgets, monetary policy, EU policy, etc.). the second part of the course is dedicated to government intervention and public regulation of the economy, with special reference to the rules on independent authorities and supervision of the of the economic-financial system.



Professor: Sepe, Pellegrini

Learning Outcomes: The main goal of this first-year course is to teach the legal terms required to approach the study of law and to provide

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basic legal knowledge aimed at understanding the relationships among institutions, law and economics. The approach will be systematic in order to offer students the methodology required to critically analyse the concepts and the relationships that govern the principles of economic law, public or private, at international, EU and domestic level.

Textbooks: Sepe: General part: Rossano, Manuale di diritto pubblico, Jovene, Napoli, latest edition. Special part: Pellegrini (a cura di), Elementi di diritto pubblico dell’Economia, 2012. Some chapters will be excluded, and they will be indicated during the course. Pellegrini: General part: Politi, Diritto pubblico, Giappichelli, latest edition, or Rossano, Manuale di diritto pubblico, latest edition Special part: Pellegrini (a cura di), Elementi di diritto pubblico dell’Economia, 2012. Some chapters will be excluded, and they will be indicated during the course. 33a/b/c/d E2-St37a/b/c/d-B: STATISTICS Spring semester; 90 lectures; 7 hrs per week; 8 credits Theory Statistics and distribution of frequencies. Graphic representations. Position and variability indices. Experiments on casualness, events, postulates and theorems on probability. Conditioned probability and independent events. Univariate and bivariate casual variables. Main families of casual variables. The central limit theorem. Introduction to sampling. Point and interval estimates. Testing hypothesis. Simple linear regression models and correlation. Practice Application of theoretical methods to solve empirical problems of an economic and business nature.


Professor: Cubadda, Biggeri, Bini, De Giovanni

Learning Outcomes: The main aim is to endow students with basic statistical methods for collecting and analysing univariate and bivariate data. Descriptive statistics provides the tools for an exploratory analysis of data. Probability theory provides models for phenomena which are subject to uncertainty. Statistical inference provides methods for analysing data for phenomena which are subject to uncertainty.

Textbooks: A.C. Monti, Introduzione alla Statistica, ESI, 2008.

34 STOCK MARKET TECHNIQUES Spring semester; 72 lectures; 7 hrs per week; 8 credits; elective

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Structure and organization of financial markets, price formation, evaluation criteria and return indicators of liquidity and of bond risks.. Evaluation criteria of equity. Capital Market Theory. Equity and debt portfolio management strategies. Performance assessment. Derivatives and portfolio management.

Other activities: Lectures


Professors: Boido

Learning Outcomes: The course aims to provide students with the opportunity to understand the operation of financial markets and traded instruments (stocks, bonds, derivatives) so that it will enable students to build an investment portfolio with reference to the dynamics of market variables.

Textbooks: Caparrelli – Economia del Mercato Mobiliare edizioni McGraw Hill (2004) Fabrizi- Economia del mercato mobiliare. Edizioni Egea quinta edizione (2013). Hull: Fondamenti dei Mercati Future e delle Opzioni edizioni Pearson ( 2011) Recommended readings: Elton- Gruber.Brown-Goetzman Teorie di Portafoglio e Analisi degli investimenti ed Apogeo

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Economics and Business 1 E1-Acc1-EaB: ACCOUNTING Spring semester; 72 h lectures; 3 hrs per week; 8 credits

The main concepts of financial statement: balance sheet, income statement, statement of cash flow. The purposes and the users of financial statement. The preparation of financial statement: double entry bookkeeping. From net income to Cash Flow: Cash Flow statement preparation and interpretation The GAAP: International Accounting Standards (IAS/IFRS) and their application: - The Framework. IAS 1, IAS 2, IAS 7, IAS 16, IAS, 38, IAS 36…US GAAP versus IFRS

Other Activities: Lectures and tutorials


Professor: Raoli

Learning Outcomes: Learn how to prepare and read a financial statement. - Learn how to apply different accounting principles - Read and compare different financial statements of different companies at an international level

Textbooks: Financial Accounting, 13th, Warren- Reeve-Duchac (Jan. 2013) As an alternative: Elisa Raoli, Accounting, Create McGraw-Hill Education, 2015 2 E2-AStEc2-EaB: APPLIED STATISTICS AND ECONOMETRICS Spring semester; 72 lectures; 3 hrs per week; 8 credits Estimation and testing in linear model; instrumental variables and panel data are the main topics covered.

Other activities: Lectures and tutorials

Prerequisites: Statistics

Assessment: written and oral exam, Weekly problem sets.

Professor: Ragusa

Learning Outcomes: By the end of the course, students are expected to: 1. understand the statistical assumptions underlying regression analysis, and when they are appropriate; 2. be able to understand, interpret and evaluate data analysis performed by others; 3. be able to construct basic forecasting models; 4. become familiar with one of statistical software (R or STATA).

Textbooks: Stock and Watson. Introduction to Econometrics, Addison-Wesley; 3rd edition (December 13, 2010) 3 ECONOMIC GROWTH AND DEVELOPMENT Fall semester; 72 h lectures; 3 hrs per week; 8 credits

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1. Introduction. 2. Global Economic Growth. 3. Convergence and Divergence of output across countries. 4. Economic growth in Italy.

Prerequisites: Basic knowledge in Macroeconomics. Mainly Cobb-Douglas Production function.

Assessment: Final exam (70%), 3 best problem sets (30%).

Professors: Battisti/Zeira

Learning Outcomes: In the last two centuries the world has experienced rapid and unprecedented economic growth. The main issues covered in the course are productivity, technology and human capital. This course brings together macroeconomics (country level) and microeconomics (/industry/firm level). At a macroeconomic level the course will analyse some fundamentals like demography, institutions, geography and income distribution while at a microeconomic level the focus will be on knowledge, ICT and spillovers.

Textbooks: David Weil: Economic Growth. 4 ENTREPRENEURSHIP, INNOVATION AND TECHNOLOGY Fall semester; 72 lectures; 3 hrs per week; 8 credits - Elective

➢ Innovation sources and processes

➢ Taxonomy of innovation

➢ Sectoral patterns of innovation

➢ Geography of innovation

➢ Marketing innovation

➢ Organizing innovation

➢ Entrepreneur’s individual traits

➢ Entrepreneurial opportunities

➢ Entrepreneurship ecosystem

Assessment: Active involvement in each class – e.g. attendance, participation to discussion, short presentations – will add up to 50% of the final grade. The grade will be further based on an written exam (50%).

Other activities: Case studies

Professors: Prencipe, Souitaris

Learning Outcomes: The aim of this course is to provide students with theoretical and applied knowledge on the economics and organizational dimensions of innovation and entrepreneurship. The key learning objectives are: - identifying sources, rate, and direction of technological change; - understanding the role and challenges of innovation across sectors, countries, and organizations; - exploring entrepreneurship as a manageable process.

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Textbooks: Papers as indicated per each session. 5 FINANCIAL MARKETS AND INTERMEDIARIES Fall semester; 72 h lectures; 3 hrs per week; 8 credits 1)Introduction and fundamentals of financial markets 2)Central banking and monetary policy 3)Financial markets 4)Management of financial institutions 5)The financial institutions industry

Other activities: Problem sets

Assessment: problem sets and written final exam

Professors: Nucera

Learning Outcomes: This course aims to provide students with a general understanding of the different functions performed by financial markets and intermediaries within the financial system.

Textbooks: F.S. Mishkin and S.G. Eakins, Financial Markets and Institutions, 7/ E (global edition), Pearson 6 GAMBLING: PROBABILITY AND DECISION Spring semester; 72 h lectures; 3 hrs per week; 8 credits; elective The course will be mostly elementary, but rigorous. The course has no pretense to exhaustiveness and the choice of covered topics is highly subjective. Particular attention will be devoted to various paradoxes of gambling and probability. The course will start with the definition of subjective probability in terms of betting. The connection with the no-arbitrage theory of finance will be mentioned. The St Petersburg paradox will lead to the introduction of expected utility as a criterion of choice. Risk aversion, its properties and its applications in insurance and portfolio theory will then be analyzed. Conditional probability will be defined in subjective terms and its properties will be studied. Conditional expectations with respect to partitions will be examined in details. The two-envelop paradox and the three-prisoner paradox will be used as a tool to explain the pitfalls of conditioning.Partitions will be interpreted as information. Martingales will be introduced and interpreted as fair gambles. Stopping times and their properties will be studied and it will be shown why you cannot hope to win for sure in a repeated fair game (not in your lifetime). The uses of martingales in finance will be discussed.Random walks will be analyzed on details. Optimal gambling strategies in order to achieve a certain gain will be examined. The Kelly criterion and Parrondo's paradox will be explained. Ruin probabilities and actuarial applications will come next. Specific games of chances will be analyzed in students projects.

Assessment: Midterm exam, Final exam, oral exam

Prerequisites: mathematics

Professors: Scarsini

Learning Outcomes: The course will use gambling to analyse the role of probability in decision making. The course will cover different theoretical and applied aspects of gambling and

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related topics. Several applications in different fields will be translated into a gambling language and analysed with the tools of probability and decision theory.

Textbooks: Some useful references: Stewart Ethier, The Doctrine of Chances: Probabilistic Aspects of Gambling Springer (2010), ISBN-13: 978-3540787822 John Haigh, Taking Chances: Winning with Probability, Oxford University Press (2003) ISBN-13: 978-0198526636 Ronald J. Gould, Mathematics in Games, Sports, and Gambling: - The Games People Play, Chapman and Hall/CRC (2009) ISBN-13: 978-1439801635 Richard A. Epstein, The Theory of Gambling and Statistical Logic, Second Edition Academic Press; 2 edition (2009) ISBN-13: 978-0123749406 Jörg Bewersdorff, Luck, Logic, and White Lies: The Mathematics of Games A K Peters/CRC Press (2004) ISBN-13: 978-1568812106 Mark Bollman, Basic Gambling Mathematics: The Numbers Behind The Neon Chapman and Hall/CRC (2014) ISBN-13: 978-1482208931 Edward O. Thorp Beat the Dealer: A Winning Strategy for the Game of Twenty-One Vintage; Revised edition (1966) ISBN-13: 978-0394703107 Edward O. Thorp, The Mathematics of Gambling Lyle Stuart (1985) ISBN-13: 978-0897460194 Leonard C. MacLean, Edward O. Thorp, William T. Ziemba (Editors) The Kelly Capital Growth Investment Criterion: Theory and Practice World Scientific Publishing Company (2011) ISBN-13: 978-9814293495 Itzhak Gilboa Rational Choice The MIT Press (2012) ISBN-13: 978-0262518055 Itzhak Gilboa Making Better Decisions: Decision Theory in Practice Wiley-Blackwell (2010) ISBN-13: 978-1444336528 7 HISTORY OF ECONOMIC THOUGHT AND POLICY Spring semester; 72 h lectures; 3 hrs per week; 8 credits I. Introduction and the beginnings of economics; 2. Classical economics; 3. Against classical economics; 4. The marginalist revolution; 5. Neoclassical economics; 6. Heterodox economics; 7. The Keynesian Revolution and its aftermath.


Prerequisites: Basilar knowledge of micro and macroeconomics.

Professors: Fiorito

Learning Outcomes: The main purpose of the course is to acquaint the student with the evolution of economic ideas and major theories in the history of economic thought. The evolution of economic thought is traced from the early Mercantilist school to the first half of the 20th century, concentrating on the two centuries since the publication of Adam Smith Wealth of Nations in 1776. The course will focus on classical economics, the ideas of the Marginalist Revolution, neo-classical and institutional economics, and the Keynesian Revolution. These ideas and theories will be examined within their original historical, social and political context and they will also be related to the scientific, philosophical and cultural ideas of the time. The course will develop an insight into the evolution of economics and will provide an

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opportunity for better understanding of the nature of economic science.

Textbooks: Fiorito, Luca and Asso, Pier Francesco (2004) Human Nature and Economic Institutions: Instinct Psychology, Behaviorism, and the development of American Institutionalism. Journal of the History of Economic Thought. vol. 26, no. 4, pp. 445-477. Fiorito Luca (2010) John Roger commons, Wesley Newcomb Hohfeld and the Origins of Transactional Economics, History of Political Economy, vol. 42, no. 2, pp. 267-95. Fiorito Luca, and Samuels Warren J. (2006) The History of Economic Thought as the History of Error. Research in the History of Economic Thought and Methodology. vol. 24C, pp. 49-100. Landreth, Henry and Colander, David (2002) History of Economic Thought, Boston: Houghton Mifflin. Screpanti, Ernesto and Zamagni, Stefano (2005) An Outline Of The History Of Economic Thought, London: Oxford University Press, chapter 7. 8 INTERNATIONAL ECONOMICS Spring semester; 72 lectures; 3 hrs per week; 8 credits; elective Introduction to the theory of international trade: facts and models. Open-economy Macroeconomics

Prerequisites: Microeconomics, Macroeconomics

Assessment: Written test

Professors: Manzocchi

Learning Outcomes: Provide conceptual instruments needed to understand the current globalization phase

Textbooks: International Economics: Global Edition (9e): 9780273754091 9 E1-IBE8-EaB: INTRODUCTION TO BUSINESS ECONOMICS Fall semester; 72 lectures; 3 hrs per week; 8 credits 1. Introduction to the theory of the firm (2 weeks) Economics and management as a social science. What is a firm? Types of firms and legal forms. How firms interact with each other. The firm and society, social and ethical implications. Shareholders and customers. 2. Introduction to Corporate Governance (1 week) Corporate governance definitions and systems. Balancing the interests of multiple stakeholders. 3. Basics of financial reporting and financial statement analysis (2 weeks) The accounting cycle. Financial reporting and user decisions. Sources and resources. Balance Sheet and Income Statement. 4. Introduction to business management (3 weeks) Starting a business, entrepreneurship. New directions, intrapreneurship. Innovation and marketing. Strategy. Operations management and supply chain management. Organizational structure. Managing change. 5. Basics of accounting (2 weeks) Accounting for financing, purchasing and sales. Bookkeeping techniques. Journal entry and adjusted journal entry. 6. Review, Q&A and Exam Simulation (1 week)

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Assessment: Written exam made up of multiple choice questions and one or more practical exercises.

Other activities: Practical team work, case studies

Professors: Candi

Learning Outcomes: The course will provide 1) an introduction to the theory of the firm, 2) an introduction to corporate governance, 3) an introduction to business management, and 4) the basics of financial reporting, financial statement analysis and accounting.

Textbooks: Book to be created in collaboration with Elisa Raoli. 10 E2-L&Ec10-EaB: LAW & ECONOMICS Spring semester; 96 h lectures; 7 hrs per week; 12 credits Introduction to business law: Agency Problems, the basic Governance Structure, protecting minority shareholders, control transactions. Italian law on: Proprietorships as Organizations; Partnerships; Companies Limited by shares (Private and Public companies). Fundamentals of business and company law in United Kingdom, Germany and United States.

Assessment: computer-based written exam

Prerequisites: Basic principles of civil law

Professors: Brescia Morra/Bruno

Learning Outcomes: Fundamentals of business and company law with reference to Italian, English, US, German jurisdictions.

Textbooks: Klein, Coffee, Partnoy, Business Organization and Finance, Foundation Press, 2010. Kraakman, Armour, Davies, Enriques, Hansmann, Hertig, Hopt, Kanda, Rock, The Anatomy of Corporate Law. A comparative and Functional Approach (second Edition), Oxford University Press, 2009. Materials on professor website. 11 E2-Mac11-EaB: MACROECONOMICS Fall semester; 70 lectures; 7 hrs per week; 8 credits Introduction- Defining the macroeconomics variables. The Short Run, the Medium Run and the Long Run PART I -The Short Run: The goods market, the financial markets and the IS-LM model. Fiscal and monetary policies in the short run. PART II – The Medium Run: The labour market and the natural rate of unemployment. The AS-AD model: inflation, production and money growth. Fiscal and monetary policies in the medium run PART III – The Long Run: Saving, capital accumulation and growth. The role of technological progress. The facts of growth: capital accumulation vs. technological progress PART IV – The open economy: The interest rate parity. The Mundell-Fleming model. PART V: Pathologies: The new great recession: the late-2000 economic and finacial crisis.The European sovereign debt crisis

Assessment: written examination


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Professors: Vallanti

Learning Outcomes: This course aims to provide the methodological and theoretical tools to understand how the economies work and to explain the past and current economic developments. We will focus on the stylised facts of business cycle fluctuations and economic growth, the determinants of unemployment and inflation. We will also discuss whether and to what extent policy can improve macroeconomic performance.

Textbooks: Blanchard, O. Giavazzi F & Ameghini A., Macroeconomics: A European Perspective, Prentice Hall, (2011) David Findlay, Study Guide Macroeconomics, Pearson Prentice Hall, 5th edition, 2009

12 E2-Mar13-EaB: MARKETING Spring semester; 60 lectures; 7 hrs per week; 8 credits 1. Marketing, the marketing concept and the marketing process; 2. Consumer Buying Behavior; 3. Marketing Strategy the marketing mix (product, price, distribution, communication) ; 4) Applications/exercises.

Assessment: 10% Class participation; 45% Group Projects; 45% Final Individual examination

Other Activities: exercises, guest speakers’ presentations, team projects

Professors: Marcati

Learning Outcomes: The primary orientation of this course is managerial: coverage of the field is applied and from the perspective of the individual manager or the firm engaged in business organization. The course will introduce and provide students with basic tools (concepts, models and techniques) to manage marketing activities. It is intended to develop students' skills in marketing analysis and planning.

Textbooks: Armstrong, G., and Ph. Kotler, Marketing: An introduction, 11e, Pearson, 2014. 13 E1-Mat118-EaB: MATHEMATICS 1 Fall and Spring semester; 114 lectures (annual); 7 hrs per week; 12 credits An introduction to calculus and linear algebra, with many applications in economics.


Assessment: Midterm exam, written exam, oral exam

Professors: Dall’Aglio

Learning Outcomes: The course aims at giving the students a mathematical toolbox for the economics/statistics courses in the Bachelor's program.

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Textbooks: Knut Sydsaeter, Peter Hammond, Arne Stroem: Essential Mathematics for Economic Analysis, 4th Edition, Pearson (without myMathLab package). Other freely available online material and reccomended readings will be posted on the course’s webpage

14 E1-Mat118-EaB: MATHEMATICS 2 Fall semester; 7 hrs per week; 8 credits Matrices and Vectors Systems of Linear Equations Linear Dependence and Linear Independence Matrices and Linear Transformations The Inverse of a Matrix Determinants Subspaces Basis and Dimension Eigenvalues and Eigenvectors Diagonalization of Matrices Applications of Eigenvalues Vector Spaces and Their Subspaces The Geometry of Vectors Least-Squares Approximations and Orthogonal Projections

Assessment: Quizzes, participation, homework, midterm, written final exam.

Professors: Biagini

Learning Outcomes: Provide the students with the basics of linear algebra.

Textbooks: Spence, L. E., Insel, A. J., and Friedberg, S. H. F. Elementary Linear Algebra: 2nd Edition, Pearson, 2013. 15 E1-Mic15-EaB: MICROECONOMICS Spring semester; 72 lectures; 7 hrs per week; 8 credit Basic consumption and production theory.

Other activities: Lectures and TA sessions


Professor: Giordani

Learning Outcomes: To teach the key elements of microeconomics, i.e., the basic foundations of rational choice, the behaviour of consumers and firms, how prices and quantities are set under different market structures, the welfare properties of competitive and non competitive equilibria and the scope for regulation.

Textbooks: Hal Varian, Intermediate Microeconomics, Norton & Company, 8th Edition.

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16 MONEY AND BANKING Spring semester; 72 lectures; 7 hrs per week; 8 credit; elective 1) Fundamentals of money, credit and banking. 2) Interest rates and asset prices. 3) Exchange rates and the FOREX martet, Interest parity conditions. 4) The monetary and financial system (domestic and international). 5) The money supply process. 6) Banking activity and principles of banking regulation; 7) Monetary theory: fundamentals. 8) Money, banks and the economy: the IS-MP-IA model. 9) Money, banks and the economy: the Bernanke-Blinder Model. 10) Monetary policy theory: basic notions. 11)The European Central Bank and the US Federal Reserve. 12)The monetary policy transmission mechanism.

Prerequisites: Introductory microeconomics, introductory macroeconomics.

Assessment: Class attendance (10% of final grade), Partial assessment tests (40% of final grade), Final exam (50% of final grade). Partial assesment tests and final exam consist of multiple choice and open questions.

Professor: Paesani

Learning Outcomes: This course focuses on the activities of banks, as providers of money and credit, and on the linkages between banks, financial markets and the real economy in a global economic context. The course consists of three parts. Part 1 addresses the fundamentals of money, credit, banking, asset pricing and exchange rates and discusses the monetary and financial system (domestic and international). Part 2 explores the money supply process and investigates issues in monetary theory including theories of money demand and theories about the relationship between money, credit and overall economic activity. Part 3 focuses on monetary policy and the monetary policy transmission mechanism with specific attention to the European Central Bank. The course combines a traditional didactic approach with a strong emphasis on case studies and the analysis of monetary and financial data. The main goal of the course is to enable students to understand how banks, financial markets and monetary policy affect economic activity in a global economic context. At the end of the course students should be able to understand documents discussing monetary and financial issues.

Textbooks: Mandatory reference: Mishkin, F. (2012) The Economics of Money, Banking and Financial Markets, 10th edition, Pearson Education European Central Bank, (2011) The Monetary Policy of the ECB, 3rd edition, ECB Additional reference: Handa J. (2009) Monetary Economics, 2nd edition, Routledge

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Valdez S., and Molyneux P. (2010) An Introduction to Global Financial Markets, 6th edition, Palgrave MacMillan ECB annual and monthly bulletins, BIS publications, Quality financial press (the Economist, the Financial Times) At the beginning of each week, the instructor will indicate the reading material covering the lectures of the week. 17 E1-PCL16-EaB: PRINCIPLES OF CIVIL LAW Fall semester; 72 lectures; 7 hrs per week; 8 credits The course offers an introduction to the Italian legal system and the other systems belonging to the so-called “Civil Law Family”, with special regard to private law issues. It aims to allow students to become familiar with the fundamental categories and principles of the said area of law in a European perspective, developing at the same time a proper knowledge of legal terminology, so as to enable participants to cope with an international context.

Assessment: - Oral exam 90%; - Individual / Group works executed during the course and active participation during the class 10%.

Professor: Tassone

Learning OUtcomes: The course offers an introduction to the Italian legal system and to the other systems belonging to the so-called “Civil Law Family”, with special regard to private law issues. It aims to allow students to become familiar with the fundamental categories and principles of the said area of law in a European perspective, developing at the same time a proper knowledge of legal terminology, so as to enable participants to cope with an international context.

Textbooks: 1) G. Iudica e P. Zatti, Language and Rules of Italian Private Law: An Introduction, latest ed., Cedam. 2) J.S. Lena and U. Mattei (eds.), Introduction to Italian Law, Kluwer, 2002. The chapters required for the exam will be indicated online. 18 E1-PCL21-EaB: PRINCIPLES OF ECONOMICS Fall semester; 72 lectures; 7 hrs per week; 8 credits Introduction to economics – Comparative advantage - Supply and demand Competition and the invisible hand - Elasticity - Demand - Perfectly competitive supply - Efficiency and exchange - The invisible hand in action - Market imperfections (externalities and public goods) – Poverty and income disitribution - Macroeconomics: data and issues - Spending, income and GDP

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- Inflation and the price level - Wages and unemployment - The economy in the long-run - Economic growth - The economy in the short-run - Short-term economic fluctuations


Professor: Ponti

Learning Outcomes: This course aims at promoting a basic understanding of the most fundamental issues in both microeconomic and macroeconomic theory. We introduce the first principles of economics as a science. In particular, we analyze the functioning of the market and its allocative properties, study the gains from trade. We also analyze the market imperfections and the role of government policy. The second part of the course is devoted to macroeconomics. In particular, we define the main variables involved (such as GDP, inflation, unemployment, consumption and investment) and give an introduction to the main intellectual challenges (such as the explanation of the business cycle and of the long-run economic growth). This basic knowledge constitutes the basic framework necessary to continue studying economics. Moreover, it helps the student in analyzing economic phenomena in order to build up an informed and personal opinion of economic reality.

Textbooks: “Principles of Economics” by R. Frank and B. Bernanke. Fourth edition (2009), Mcgraw-Hill. 19 PUBLIC ECONOMICS Fall semester; 72 lectures; 7 hrs per week; 8 credits; elective Measuring the size of the public sector. Fundamentals of welfare economics. Income inequalities. Public expenditure theory. Economics of education. Taxation theory. Fiscal deficits and government debt.


Assessment: Written exams. Oral exams only for students asking for it.

Professor: Ferrante/Meliciani

Learning Outcomes: The aim of the course is to analyse the role of the public sector in the economy. The course will explore the reasons behind government intervention, the design of taxation and public expenditure policies, public deficits and debt. Particular attention will be devoted to the trade-off between efficiency and equity and to income inequalities. Finally, a specific part of the course will be devoted to the study of the economics of education. Case studies and references to real-world programs and policies are an important part of the course ensuring that students understand the policy applications of what they learn.

Textbook:

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Economics of the Public Sector, Fourth Edition, Stiglitz and Rosengard, Norton. Becker G., (1975), Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education, 1975. Ciccone A., Cingano F. and Cipollone P., (2006). The private and social return to schooling in Italy, BDI, Temi di discussione. Hanushek, E.; D. Jamison, E. Jamison and L. Woessmann (2008) “Education and Economic Growth.” Education Next 8 (2), pp. 62-70. Professor’s slides. 20 E1-St18-EaB: STATISTICS Spring semester; 72 lectures; 7 hrs per week; 10 credits Basic ideas in statistics: data collection, presentation, summary statistics and plots. Basic probability. Statistical models, and proabability based statistical inference: estimation and testing hypotheses.

Other activities: exercises, Excel program, quizzes

Prerequisites: Math strongly recommended

Assessment: 60% Weekly quizzes: 30% final written test 10% individual work executed during the course (e.g. assignments, paper writing, etc)

Professor: Rinott

Learning Outcomes: Basic understanding of data collection, presentation and analysis.

Textbook: Sheldon M. Ross, Introductory Statistics (Hardcover), Academic Press, 3rd edition, 2010.

92

▌SUMMARY TABLE OF COURSES

BACHELOR DEGREE COURSES Credits: from 2 to 8 depending on the course Total credits for each degree course: 180

Key oe: oral exam

we: written exam


Year/Sem

Hours Assessment Credits

E1-AEPS1a/b/c/d-B

AUDITING, ETHICS AND PROFESSIONAL SKILLS 3/S 72 L we/oe 8

(Revisione, Capacità Etiche e Professionali)

Chirico

E1-BA2a/b3/c/d-B

BANKING LAW 3/F 72 L oe 8

(Diritto bancario)

Pellegrini

E1-BA4a/b/c/d-B

BUSINESS ADMINISTRATION 1/F 72 L oe/we 8

(Economia aziendale)

Musaio, Fiori, Di Lazzaro, Tiscini, Bozzolan

E2-BL5a/b/c/d-B

BUSINESS LAW 2/S 72 L oe 8

(Diritto commerciale)

Farenga, Donativi, Lener, Macrì

E1-CS7a/b/c/d-B

COMPUTER SCIENCE 1/S 48 L oe/we 6

E2-BO6a/b/c/d-e

BUSINESS ORGANIZATION 3/S 72 L oe/we 8

(Organizzazione aziendale)

Casalino, Cicchetti, Dondi, D’Alise, Prencipe

CORPORATE FINANCE 3/F 72 L we 8

(Finanza Aziendale)

Oriani, Mattarocci, Bozzi, Spinsi

93

(Abilità Informatiche)

Za, Italiano, Bernaschi

E3-EGD9-B

ECONOMIC GROWTH AND DEVELOPMENT (In English) 3/F 72 L oe/we 8

Zeira/Battisti

ENERGY ECONOMICS (in English) 3/S 72L oe/we 8

Bollino

ECONOMICS AND MANAGEMENT OF PUBLIC UTILITIES 3/S 72 L oe 8

(Economia e gestione delle pubbliche utilità)

Iacovone

ECONOMICS OF FINANCIAL MARKETS AND INSTITUTIONS

3/S 72 L oe 8

(Economia dei mercati e degli intermediari finanziari)

Cerri, Comana, Pallini, Previtali

E3-FM16a/b/c//d-B

FINANCIAL MATHEMATICS 2/F 72 L oe/we 8

(Matematica Finanziaria)

Olivieri, Barone, Mottura, Fersini

HISTORY OF CORPORATIONS AND CORPORATE ORGANIZATIONS

3/S 72 L oe 8

(Storia dell’impresa e dell’organizazione aziendale)

Castronovo

E3-HEB19 -B

HISTORY OF ECONOMICS AND BUSINESS 1/S 72 L oe 8

(Storia dell’Economia e d’Impresa)

Di Taranto, Ferrandino, Farese, Lepore

E3-HET20 -B

HISTORY OF ECONOMIC THOUGHT 3/S 72 L oe 8

(Storia del Pensiero Economico)

Di Taranto

E3-HROMO22-B


3/F 72 L oe 8

(Organizzazione e Management delle Risorse Umane)

Gabrielli

E2-EIT15a/b/c/d-B

ENTREPRENEURSHIP AND INNOVATION TECHNOLOGY (in English)

3/S 60 L we 8

Prencipe, Souitaris

94

E3-HEBO23a/b/c/d-B

INDUSTRIAL ECONOMICS 2/S 72 L oe/we 8

(Economia Industriale)

Cassetta, Monarca, Meliciani, Pozzi

INDUSTRIAL MARKETING 3/S 72 L oe 8

(Marketing industriale)

Gregori

E1-IPL25a/b/c/d-B

ITALIAN PRIVATE LAW 1/F 72 L oe 8

(Diritto privato)

Pardolesi, Di Ciommo, Carleo, Di Gravio, Troiano

E2-MEP28a/b/c/d-B

MACROECONOMICS 2/F 72 L we 8

(Macroeconomia)

Reichlin, Nisticò, Pandimoglio, Vallanti

MANAGEMENT 2/S 72 L oe/we 8

(Economia e gestione delle imprese)

Pirolo, Leone, Caroli, Marino

MANAGEMENT CONTROL 3/S 72 L oe/we 6

(Controllo di gestione)

Bastia

MARKET AND DISCIPLINE OF COMPETITION 3/S 72 L oe/we 8

(Mercato e disciplina della concorrenza)

Pardolesi

E2-Mar29a/b/c/d-B

MARKETING 2/S 72 L oe/we 8

(Marketing)

Marcati, Romani/Rullani, Costabile, De Angelis

MARKETING OF SERVICES 3/S 72 L we 8

(Marketing dei servizi)

Devetag

E1-Mat30a/b/c/d-B

MATHEMATICS 1/F 72 L oe/we 8

(Matematica)

Cacciafesta, Papi, Staffa, Scarlatti, Dell’Aglio

MARKETS AND STRATEGIES (in English) 3/S 72L oe/we 8

Devetag

95

METHODOLOGY OF SOCIAL SCIENCES 3/F 72 L oe 8

(Metodologia delle scienze sociali)

Infantino

MICROECONOMICS 1/S 72 L we 8

Sobbrio, Giordani, Marengo, Landini, Di Cagno

E3-MCE32-B

MONETARY AND CREDIT ECONOMICS 3/S 72 L oe/we 8

(Economia e credito dei mercati monetari e)

Di Giorgio

E1–PEL35a/b/c/d-B

PUBLIC ECONOMIC LAW (Diritto Pubblico dell’Economia)

1/S 72 L oe/we 8

Montedoro, Rossano, Sepe, Pellegrini

E2-St37a/b/c/d-B

STATISTICS 2/S 72 L we 8

(Statistica)

Cubadda, Biggeri, Bini, De Giovanni

STOCK MARKETS TECHNIQUES 3/S 72 L oe 8

(Tecniche di borsa)

Boido

96

Elective Courses

Year/Sem


MANAGEMENT CONTROL 3/S 72 oe/we 8

Bastia

BANKING LAW 3/S 72 oe 8

Pellegrini

ENERGY ECONOMICS 3/S 72 oe/we 8

Bollino

ECONOMICS AND MANAGEMENT OF PUBLIC UTILITIES 3/S 72 oe 8

Iacovone

MONETARY AND CREDIT ECONOMICS 3/S 72 oe/we 8

Di Giorgio

ENTREPRENEURSHIP, INNOVATION AND TECHNOLOGY 3/S 72 we 8

Prencipe. Souitaris

INDUSTRIAL MARKETING 3/S 72 oe 8

Gregori

MARKETS AND STRATEGIES 3/S 72 oe/we 8

Devetag

MARKETS AND DISCIPLINE OF COMPETITION 3/S 72 oe/we 8

Pardolesi

METHODOLOGIES OF SOCIAL SCIENCES 3/F 72 oe 8

Infantino

MARKETING OF SERVICES 3/S 72 we 8

Devetag


3/S 72 oe 8

Gabrielli

AUDITING AND PROFESSIONAL SKILLS 3/S 72 oe/we 8

Chirico

HISTORY OF ECONOMIC THOUGHT 3/S 72 oe 8

Di Taranto

ORGANIZATION OF CORPORATE INFORMATIC SYSTEMS 3/S 80 we/oe 8

Federici

97

STOCK MARKET TECHNIQUES 3/S 72 oe 8

Boido

HISTORY OF CORPORATIONS AND OF CORPORATE ORGANIZATION

3/S 72 oe 8

Castronovo

NB: Should the description of a given course not be available at the time of publication of this brochure and therefore not be included herein, it will be published on the university website in the "cattedre online" section, which students are accordingly advised to check from time to time.

98


Year/Sem


E1-Acc1-EaB

ACCOUNTING 1/S 72 L we/oe 8

Raoli

E2-ASE2-EaB

APPLIED STATISTICS AND ECONOMETRICS 2/S 72 L we 8

Ragusa

ECONOMIC GROWTH AND DEVELOPMENT 3/S 72 L we 8

Battisti/Zeira

ENTREPRENEURSHIP, INNOVATION AND TECHNOLOGY 3/S 72 L we 8

Prencipe, Souitaris

FINANCIAL MARKETS AND INTERMEDIARIES 2/F 72 L we 8

Nucera

E2-GaStra6-EaB

GAMBLING: PROBABILITY AND DECISION 3/F 72 L we 8

Scarsini

HISTORY OF ECONOMIC THOUGHT AND POLICY 3/F 72 L we 8

Fiorito

INTERNATIONA ECONOMICS 3/S 72L we 8

Manzocchi

E1-IBE8-EaB

INTRODUCTION TO BUSINESS ECONOMICS 1/F 72 L we 8

Candi

E2-L&E10-EaB

LAW & ECONOMICS 2/S 78 L we 8

Brescia Morra/Bruno

E2-Mac11-EaB

MACROECONOMICS 2/F 72 L we 8

Vallanti

99

E2-Mar13-EaB

MARKETING 3/S 60 L we 8

Marcati

E1-Mat114-EaB

MATHEMATICS 1 1/F 90 L we/oe 10

Dall’Aglio

MATHEMATICS 2 2/F 72 L we 8

Biagini

MONEY AND BANKING 3/F 72 L we 8

Paesani

E1-Mic15-EaB

MICROECONOMICS 1/S 72 L we 8

Giordani

E1-PCL16-EaB

PRINCIPLES OF CIVIL LAW 1/F 48 L oe/we 6

Tassone

E1-PCL17-EaB

PRINCIPLES OF ECONOMICS 1/F 72 L we 8

Ponti

E1-St18-EaB

STATISTICS 1/S 72 L we 8

Rinott

100

Elective courses

Semester



ECONOMIC GROWTH AND DEVELOPMENT Fall 72 we 8

Battisti, Jona-Lasinio

ENTREPRENEURSHIP, INNOVATION AND TECHNOLOGY

Spring 60 we 8

Prencipe, Souitaris

GAMBLING: PROBABILITY AND DECISION Fall 72 we 8

Scarsini

INTERNATIONAL ECONOMICS Spring 72 we 8

Manzocchi

MARKETING Fall 60 we 8

Marcati

MONEY AND BANKING Fall 72 we 8

Paesani

PUBLIC ECONOMICS Fall 72 we 8

Ferrante/Meliciani

101

▌PREREQUISITES (PROPEDEUTICITA’) Economics and Management

PREREQUISITES

E1-Acc1a/b/c/d-B ACCOUNTING (Contabilità e Bilancio)

BUSINESS ADMINISTRATION

E2-BL6a/b/c/d-B BUSINESS LAW (Diritto commerciale)

ITALIAN PRIVATE LAW

BANKING LAW

ITALIAN PRIVATE LAW

E2-FM16a/b/c/d-B FINANCIAL MATHEMATICS (Matematica finanziaria)

MATHEMATICS

E3-IE21a/b/c/d-B INDUSTRIAL ECONOMICS (Economia industriale)

MICROECONOMICS

CORPORATE FINANCE

ACCOUNTING

BUSINESS ADMINISTRATION MANAGEMENT CONTROL

102


PREREQUISITES

APPLIED STATISTICS AND ECONOMETRICS

STATISTICS

MACROECONOMICS

MICROECONOMICS

MATHEMATICS 2

MATHEMATICS 1

103

▌GENERAL COURSE STRUCTURE

MASTER’S DEGREE COURSES DEPARTMENT OF BUSINESS AND MANAGEMENT:

Economics and Business Management

Business Consulting (only I year)

Digital management: transforming business and public administration (only I

year)

Administration, Finance and Control (only I year)

Management

Management (in English)

International Management

Corporate Finance

Innovation and Entrepreneurship

Luxury, Fashion and the Creative Industries

Professional Consulting and Corporate Auditing (only I year)

Marketing (only I year)

DEPARTMENT OF ECONOMICS AND FINANCE: Economics and Finance

Economics (in English)

Finance (in English)

Banks and Financial Intermediaries

Please note that Master’s courses are very advanced and only guest students meeting the following requirements may enrol in such courses:

a bachelor degree or three years of study completed before departure;

a very good command of Italian language;

the necessary prerequisites;

no time-table clashes because attendance of each course is compulsory. Credits: from 4 to 8 depending on the course. Total credits for each degree course: 120


FIRST YEAR



INDUSTRIAL DYNAMICS 12

Dinamiche industriali

FINANCIAL MATHEMATICS (ADVANCED) 8

Matematica Finanziaria (corso progredito)

COMPANY LAW 6

Diritto Societario

ADVANCED CONTROL AND MANAGEMENT 8

Controllo e gestione avanzato

Spring semester (Administration, Finance and Control) Credits

CORPORATE AND INVESTMENT BANKING 6

BUSINESS STRATEGIES 8

Strategie di impresa

ADVANCED CORPORATE FINANCE 8

Finanza azindale avanzato

ECONOMICS AND MANAGEMENT OF INTERNATIONAL ENTERPRISES

6

Economia e gestione dele imprese internazionali

105

Spring semester (Digital Management) Credits

ORGANIZATIONAL THEORY AND DIGITAL NETWORKS 6

CORPORATE FINANCE (ADVANCED) 6

Finanza Aziendale (avanzato)

BIG DATA ANALYTICS 6

BUSINESS STRATEGIES 8


Spring semester (Business Consulting) Credits


Finanza Aziendale avanzato

PROJECT-BASED ORGANIZATION: DESIGN AND HRM 6

ADVANCED ORGANIZATION DESIGN 6

BUSINES STRATEGIES 8


Spring semester (Management) Credits


Finanza Aziendale Avanzato


6

Economia e gestione delle imprese internazionali

106

ADVANCED ORGANIZATION DESIGN 6

BUSINES STRATEGIES 8


107

SECOND YEAR

Administration, Finance and Control


EXTRAORDINARY FINANCIAL OPERATIONS 6

Operazioni di finanza straordinaria

INTERNATIONAL ACCOUNTING STANDARDS 6

Principi contabili internazionali


OTHER ACTIVITIES (INTERNISHIPS, FOREIGN LANGUAGE…) 4

Altre attività (tirocini, lingua straniera…)

BUSINESS ENGLISH 8

FINAL EXAM 22

Prova finale

ELECTIVE COURSES 12

Esame a Scelta

108

SECOND YEAR

Marketing – only second year


TRADE AND RETAIL MARKETING 6

DIGITAL AND SOCIAL MEDIA MARKETING 6




BUSINESS ENGLISH 8

FINAL EXAM 22

Prova finale

ELECTIVE COURSES 12

Esame a Scelta

109

SECOND YEAR

Business Management – only II year


LABOUR LAW AND INDUSTRIAL RELATIONS 6

Diritto del lavoro e relazioni industriali

TECHNOLOGY AND INNOVATION MANAGEMENT 6




BUSINESS ENGLISH 8

FINAL EXAM 22

Prova finale

ELECTIVE COURSES 12

Esami a Scelta

110

Management (in English)

FIRST YEAR

Management


MARKETS, REGULATION AND LAW 6

PERFORMANCE MEASUREMENT AND FINANCIAL REPORTING

8

ADVANCED FINANCIAL MATHEMATICS 8

INTERNATIONAL ECONOMICS AND INDUSTRIAL DYNAMICS 12



CORPORATE STRATEGIES 8

111

Spring semester (Corporate Finance) Credits


RISK MANAGEMENT 6

Spring semester (Innovation and Entrepreneurship) Credits

ENTREPRENEURSHIP AND VENTURE CAPITAL 6

MANAGEMENT OF INNOVATION 6

Spring semester (International Management) Credits

INTERNATIONAL HUMAN RESOURCES MANAGEMENT 6

INTERNATIONAL BUSINESS 6

Spring semester (Luxory, Fashiona and Creative Industries) Credits

CREATIVE INDUSTRIES AND BUSINESS MODEL INNOVATION 6

PROJECT-BASED ORGANIZATION: DESIGN AND HRM 6

112

SECOND YEAR

International Management


INTERNATIONAL TRADE AND COMMERCIAL POLICIES 6

INTERNATIONAL BUSINESS 6



BUSINESS ENGLISH 8

MASTER THESIS 22

ELECTIVE COURSES 12

113

SECOND YEAR

Corporate Finance


M&A AND INVESTIMENT BANKING 6

INTERNATIONAL FINANCE 6



BUSINESS ENGLISH 8

MASTER THESIS 22

OPTIONAL EXAMS 12

114

SECOND YEAR

Luxury, Fashion and the creative industries


LUXURY MANAGEMENT 6

FASHION MANAGEMENT 6



BUSINESS ENGLISH 8

MASTER THESIS 22

OPTIONAL EXAMS 12

115

SECOND YEAR

Innovation and entrepreneurship


ENTREPRENEURSHIP AND VENTURE CAPITAL 6

ORGANIZING INNOVATION 6



BUSINESS ENGLISH 8

MASTER THESIS 22

ELECTIVE COURSES 12

116

Professional Consulting and Corporate Auditing

FIRST YEAR

Business Consulting - only I year


ADVANCED MANAGEMENT CONTROL 8

Controllo di gestione avanzato

INDUSTRIAL DYNAMICS 12

Dinamiche industriali

COMPANY LAW 6

Diritto Societario

FINANCIAL MATHEMATICS 8

Matematica finanziaria


AUDITING, TECHNICS AND PROFESSIONAL ETHICS 8

Revisione aziendale, tecnica e deontologia professionale


Principi contabili internazionali

CORPORATE GOVERNANCE AND INTERNAL AUDITING 8

TAX LAW (ADVANCED) 6

Diritto Tributario (Avanzato)

117

Marketing

FIRST YEAR

Marketing - only I year


ANALYSIS OF PURCHASE BEHAVIOUR 8

Analisi del comportamento di acquisto

BEHAVIOURAL ECONOMICS AND THEORY OF CONSUMPTION

12

Economia comportamentale e teoria dei consumi

LEGAL ISSUES IN MARKETING 6

RESEARCH METHODOLOGY FOR MARKETING 6


MARKETING METRICS 6

Analisi e misurazione delle performance di marketing

PRODUCT AND BRAND MANAGEMENT 8

Gestione del prodotto e della marca

STATISTICS FOR MARKETING 8

Metodi statistici per il marketing

ORGANIZATIONAL ISSUES IN MARKETING AND SALES 8

118

Economics and Finance

FIRST YEAR

Major in Economics (In English)


MATHEMATICAL METHODS FOR ECONOMICS AND FINANCE 8

MICROECONOMIC ANALYSIS 8

MACROECONOMIC ANALYSIS 8


ADVANCED MICROECONOMICS 6

ADVANCED MACROECONOMICS 6

THEORY OF FINANCE 8

Annual Course Credits

ECONOMETRIC THEORY 12

119

FIRST YEAR

Major in Finance (in English)


MATHEMATICAL METHODS FOR ECONOMIC AND FINANCE 8

PROBABILITY 8

INTERNATIONAL FINANCE 8


FIXED INCOME, CREDIT AND COMMODITIES 8

THEORY OF FINANCE 8

M&A AND INVESTMENT BANKING 6


ECONOMETRIC THEORY 12

120

FIRST YEAR

Major in Banks and Financial Intermediaries (in Italian)


MATHEMATICAL METHODS FOR ECONOMICS AND FINANCE 8

Metodi matematici per economia e finanza

INTERNATIONAL ACCOUNTING PRINCIPLES AND IFRS 6

Principi contabili internazionali e IFRS

ASSET MANAGEMENT 8


MONETARY POLICY AND THEORY 8

Teoria e politica monetaria

ECONOMICS OF UNCERTAINTY AND INFORMATION 8

Economia dell’incertezza e dell’informazione

SECURITIES MARKETS ECONOMICS 8

Economia del mercato mobiliare


Finanza aziendale avanzato


TIME SERIES AND FINANCIAL ECONOMETRICS 12

Serie storiche e econometrica finanziaria

121

SECOND YEAR

Major in Economics (in English)


ECONOMIC AND FINACIAL LAW (ANTITRUST AND REGULATION)

8


ASSET MANAGEMENT 8

MANAGERIAL ECONOMICS 8


OTHER ACTIVITIES (internships, foreign langauge…) 4

Altre Attività (tirocini, lingua straniera…)

FINAL EXAM 20

Prova finale

122

SECOND YEAR

Major in Finance (in English)


ASSET MANAGEMENT 8

FINANCIAL MARKETS LAW AND REGULATION 8




FINAL EXAM 20

Prova finale

123

SECOND YEAR

Major in Banks and Financial Intermediaries (in Italian)


LAW OF FINANCIAL MARKETS AND INTERMEDIARIES (ADVANCED)

8

Diritto dei mercati e degli intermediari finanziari (corso progredito)

ECONOMICS AND MANAGEMENT OF FINANCIAL INTERMEDIARIES

6

Economia e gestione degli intermediarI finanziari (corso progredito)




FINAL EXAM 20

Prova finale

Elective Courses

COURSE


AUDITING 6 Fall To be assigned

ASSET MANAGEMENT Nicola Borri

COMPETITION AND HIGH-TECH MARKETS

6 Fall To be assigned

TAX PROCEDURAL LAW

6 Fall Fabio Marchetti, Giuseppe Napoli

ECONOMICS AND MANAGEMENT OF THE MEDIA

6 Fall Balestrieri Luca

ENTREPREUNERSHIP AND VC

6 Fall Andrea Lanza

FASHION MANAGEMENT

6 Fall Carlo Fei

PROJECT FINANCE 6 Fall Paolo Cuccia

INTERNATIONAL BUSINESS

6 Fall Roberto Dandi

INTERNATIONAL TRADE AND COMMERCIAL POLICIES

6 Fall Stefano Manzocchi

LUXURY MANAGEMENT

6 Fall Alberto Festa

M&A AND INVESTMENT BANKING

6 Fall Luigi De Vecchi

TERRITORIAL MARKETING

6 Fall Matteo Giuliano Caroli

ORGANIZING INNOVATION

6 Fall Richard Tee

INTERNAL AUDITING, COMPLIANCE AND CORPORATE RISK MANAGEMENT

6 Fall Massimo Ferrari, Sante Ricci

INTERNATIONAL ACCOUNTING STANDARDS

6 Fall Fabio Fortuna

REMUNERATION SYSTEMS AND HR MANAGEMENT

6 Fall Gabriele Gabrielli

COMMUNICATION STRATEGIES AND ADVERTISEMENT TECHNIQUES

6 Fall Gianluca Comin

CORPORATE VALUATION

6 Fall Tiziano Onesti

HISTORY OF FINANCE AND FINANCIAL SYSTEMS

6 Fall Giuseppe Di Taranto

TRADE AND RETAIL 6 Fall Cesare Amatulli

125

MARKETING

STRUCTURED FINANCE 6 Fall Riccardo Bruno

The elective courses need to be chosen by a minimum number of students defined by Academic Institution.

Student may also select the following courses taught in English provided that their contents are different from those in their study plan as well as any other courses included in other programmes of the Department (bearing in mind that it will not always be possible to avoid conflicts between lecture times).

126

Elective Courses Economics and Finance

COURSE


EQUITY MARKETS AND ALTERNATIVE INVESTMENTS

8 Fall Marco Morelli, Paolo Vitale

EXPERIMENTAL AND BEHAVIOURAL ECONOMICS

8 Fall Daniela Teresa Di Cagno, Werner Gueth

FINANCIAL AND CREDIT DERIVATIVES

8 Fall Federico Calogero Nucera


8 Fall Stefano Manzocchi

REAL ESTATE FINANCE 8 Fall Gaetano Casertano

RISK MANAGEMENT AND COMPLIANCE

8 Fall Giancarlo Mazzoni

The elective courses need to be chosen by a minimum number of students defined by Academic Institution.

Student may also select the following courses taught in English provided that their contents are different from those in their study plan as well as any other courses included in other programmes of the Department (bearing in mind that it will not always be possible to avoid conflicts between lecture times).

127

▌DESCRIPTION OF COURSES (Alphabetical Order) Master Courses Economics and Business Management/Management/Professional Consulting and Corporate Auditing/Marketing 1a ADVANCED MANAGEMENT CONTROL Fall semester; 60 lectures; 7 hrs per week; 8 credits 1) Introduction to the course and short recap of the main topics of accounting. 2) Classification of costs, various layouts of the income statement, analysis and interpretation interim margins (added value, gross margin, contribution margin, operating income, EBIT, EBITDA etc.). 3) Analysis of costs, volumes, results (break even analysis, operating lever, structural lever, integrated operating lever, etc.). 4) Systems for the allocation of shared costs and ABC. 5) Budgeting regarding income, finance and equity. 6) Reclassification, indices, and cash flow analysis. 7) Analysis of economic and financial performance as well as value. 8) Reporting systems (balanced scorecard, value diagram, etc.).

Other Activities: case studies and papers

Prerequisites: basic knowledge of accounting


Professor: Di Lazzaro

Learning Outcomes: 1) Understanding of what firms are. 2) Types of companies and corporate governance. 3) Dynamics of the value and knowledge of the method for

recording transactions for accounting purposes. 4) Knowledge as a condition for management.

Textbooks: Fabrizio Di Lazzaro – Gianluca Musco, Analisi aziendale. Metodi e strumenti, Giappichelli, 2015 Fabrizio Di Lazzaro – Gianluca Musco, Casi svolti di analisi di bilancio, Giappichelli, 2014 (e-book). Slides provided by the professor. 1b ADVANCED MANAGEMENT CONTROL Fall semester; 60 lectures; 7 hrs per week; 8 credits

Contextualising the role of planning, measurement and control within the system of corporate management, and focus on issues such as cost analysis, budgeting, performance measurement and reporting.

128




Professor: Busco

Learning Outcomes: The aim of the course is to examine in depth the logic and the methodologies of systems for planning and management control as well as for performance measurement and reporting. In particular, after having explored the role of planning, measurement and controls within a company's management system, the course focuses on themes such as cost analysis, budgeting, performance measurement and reporting. The analysis of the logic and the methodologies mentioned above is complemented by discussion of case studies and corporate testimonials.

Textbooks: Horngren, C.T., Sundem, G.L., Stratton, W.O., Programmazione e Controllo, Pearson, 2011 (edizione italiana a cura di M. Agliati e A. Ditillo) 1c ADVANCED MANAGEMENT CONTROL Spring semester; 48 lectures; 7 hrs per week; 8 credits Management control: meanings, contents, types and evolution – Cost accounting – Budget analysis – Analytical accounting and calculations of economic convenience – Management reporting – Management performance and innovative reporting – Business plans – Benchmarking and management control – Business process reengineering – Basel 2 and 3 – Management control of made-to-order production – Organisational, management and controls models pursuant to Legislative Decree No. 231/2001- Business appraisal.




Professor: Basile

Learning Outcomes: To provide students with both an adequate understanding and specific tools relating to the management of an enterprise through the typical phases of preventive, concurrent and subsequent controls of economic and business performance. There will also be testimonials from managers relating to operational experience, which will proactively involve students.

Textbooks: Umberto Bocchino “La Guida del Sole 24 Ore al Controllo di Gestione” ed. 10/2011. 1d ADVANCED MANAGEMENT CONTROL Spring semester; 48 lectures; 7 hrs per week; 8 credits

The analysis and interpretation of budgeting and reporting tools with a specific focus on the various configurations of costs.

129



Assessment: Written exam (50%) Oral exam (50%)

Professor: Izzo

Learning Outcomes: The course intends to develop the logic and methodologies for analysing planning and controls tools used to support correct decision making by management in terms of value for money and financial sustainability.

Textbooks: Horngren, C.T., Sundem, G.L., Stratton, W.O., Programmazione e Controllo, Pearson, 2011 (edizione italiana a cura di M. Agliati e A. Ditillo) 2a E1-BOHR3-GM: ADVANCED ORGANIZATION DESIGN (in English) Spring semester; 48 lectures; 7 hrs per week; 6 credits Organizations are complex entities, and understanding their inner workings takes more than memorizing ready-made recipes. The effectiveness of organizational practices – often wrongly labeled as best – changes greatly across time and space. Using insights from a variety of theoretical approaches, the course intends to equip students with the ability to develop inferences about organizational issues. To reach this aim, the course is designed to expose students to both rigorous and varied research traditions and real-world cases. The course covers four main areas: 1) Organizational behavior: cognition, motivation, learning, and decision-making; 2) Human resource systems: assessment, reward, and development; 3) Coordination mechanisms: prices, teaming, authority and agency, and culture and rules; 4) Organizational design: job design and firm structures.

Prerequisites: Basic knowledge of the topics addressed in the Microeconomics and Economics and Management of Enterprise courses.

Other activites: interactive lectures, team works, case studies, seminaris

Assessment: written test (50%) individual and team work assignment 50%

Professor: Prencipe

Learning Outcomes: This course introduces students to the core issues of organization theory and organization design. Its primary purpose is to equip students with critical appreciation of the central theoretical questions, themes, and debates in the literature. Relying on an eclectic approach that integrates concepts from organizational economics, organizational sociology, and cognitive psychology, the course’s specific learning objectives are: • Developing an in-depth understanding of organizational dynamics; • Understanding individual behaviour in organized contexts and identifying organizational responses to manage it; • Understanding coordination issues and identifying mechanisms to address them; • Developing the ability to apply tools and methods to analyse processes in contemporary organizational design

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challenges.

Textbook: Grandori, A Organization and Economic Behavior. 2b/c E1-BOHR3-GM: ADVANCED ORGANIZATION DESIGN (in English) Spring semester; 48 lectures; 7 hrs per week; 6 credits Organizations are complex entities, and understanding their inner workings takes more than memorizing ready-made recipes. The effectiveness of organizational practices – often wrongly labeled as best – changes greatly across time and space. Using insights from a variety of theoretical approaches, the course intends to equip students with the ability to develop inferences about organizational issues. To reach this aim, the course is designed to expose students to both rigorous and varied research traditions and real-world cases. The course covers four main areas: 1) Organizational behavior: cognition, motivation, learning, and decision-making; 2) Human resource systems: assessment, reward, and development; 3) Coordination mechanisms: prices, teaming, authority and agency, and culture and rules; 4) Organizational design: job design and firm structures.

Prerequisites: Basic knowledge of the topics addressed in the Microeconomics and Economics and Management of Enterprise courses.

Other activites: interactive lectures, team works, case studies, seminaris

Assessment: The grade is based on a written exam (70%) and student’s active involvement – i.e. attendance, participation to discussion, and short presentations – (30%).

Professor: Giustiniano, Gurses

Learning Outcomes: Relying on an eclectic approach that integrates concepts from organizational economics, organizational sociology, and cognitive psychology, the course’s specific learning objectives are: • Developing an in-depth understanding of organizational dynamics; • Understanding individual behaviour in organized contexts and identifying organizational responses to manage it; • Understanding coordination issues and identifying mechanisms to address them; • Developing the ability to apply tools and methods to analyse processes in contemporary organizational design challenges.

Textbook: Grandori, A Organization and Economic Behavior. 3 ANALYSIS OF PURCHASE BEHAVIOUR Fall semester; 60 lectures; 7 hrs per week; 8 credits

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The course covers the analysis of the buying behaviour of consumers, i.e. processes and behaviour that characterise individuals in their purchasing and consumption of goods and services.

Assessment: Team project 50%, written exam 50%

Professor: Romani

Learning Outcomes: The course proposes the following objectives: 1) explanation of the key concepts of consumer

behaviour, as a discipline to be studied and the main theoretical underpinnings;

2) identification of the key role played by internal factors (motivation, values, beliefs, experience, etc.) and external factors (social culture, reference groups, subcultures, culture) in purchasing and consumption decision-making processes;

3) analysis of consumer behaviour from a marketing perspective, explaining the utility of knowledge of consumers for the purposes of devising efficacious marketing tactics and strategies in business enterprises and non-profit organisations;

The course will also examine in depth some topics of interest proposed by the Marketing Science Institute (MSI) under the RP1 priority: Understanding Customers and the Customer Experience (TIER1 priority).

Textbooks: Evans Martin, Jamal Ahmad and Foxall Gordon 2009 Consumer behaviour – Second edition – Wiley 4a E2-AM2-GM: ASSET MANAGEMENT Fall semester; 60 lectures; 7 hrs per week; 8 credits; elective International and local regulatory framework Capital market theory and asset pricing Security analysis & valuation Asset management products and fund administration Risk management practices Additional topics reflecting the interests of the audience


Professor: Micillo

Learning Outcomes: To offer an accessible introduction to capital market theory and regulation; security analysis, and international investments with portfolio management applications.

Textbooks: • Brown & Reilly – Investment Analysis and Portfolio Management – International edition, (2008 -9th edition) (required) • Litterman et al. – Modern Investment Management: An Equilibrium Approach (2003) (recommended) • Risk Budgeting, Second Edition: Risk Appetite and Governance in the Wake of Financial Crisis, edited By Leslie Rahl (2012).

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4b E2-AM2-GM: ASSET MANAGEMENT Fall semester; 60 lectures; 7 hrs per week; 8 credits; elective 1) Introduction 2) Portfolio theory and practice 3) Equilibrium in the capital markets 4) Fixed-income instruments 5) Portfolio management techniques


Professor: Borri

Learning Outcomes: The aim of the course is to provide advanced financial analysis tools for the construction of a portfolio.

Textbooks: Bodie, Kane e Marcus “Investments”, latest edition. In addition, slides will be provided on the website.

5 AUDITING, TECHNICQUES AND PROFESSIONAL ETHICS Spring semester; 60 lectures; 7 hrs per week; 8 credits PART ONE: M&A: sale, transfer, merger, division, exchange of shares, transformation and liquidation. Valuation of the capital in M&A. M&A in IFRS 3. Civil law and tax law aspects of M&A.

PART TWO: CNDCEC – National Council of Chartered Accountants and Accounting Experts: Legislative Decree No. 139 of 28 June 2005. CNDCEC’s remit in matters of professional conduct. The CNDCEC Code of Conduct.

PART THREE: CNDCEC: Programme for 2008-2012: accounting and auditing standards. CNDCEC: Programme for 2013-2016: accounting and auditing standards. Statutory audits: Legislative Decree No. 39 of 27 January 2010. The application of auditing standards after the transposition of Directive 2006/43/EC.


Professor: Mechelli

Learning Outcomes: The course aims to provide students the main operating tools required to work as a chartered accountant, developing in particular issues related to auditing, practice and professional conduct.

Textbooks: GG. Savioli, Le operazioni di gestione straordinaria, Giuffrè, Milano, 2012. L. Cadeddu, A. Portalupi. La revisione legale dei conti, 2015 (Normativa di riferimento, Principi di revisione, Incarichi professionali, Responsabilità del revisore, Il sistema di controllo interno) Documents from CNDCEC. Other materials provided during the semester. 6 BIG DATA ANALYTICS

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Spring semester; 60 lectures; 7 hrs per week; 6 credits - Introduction to the model of multiple linear regression, logistic and linear discriminant

analysis. - Evaluation and selection of models: Bias-Variance trade-off. Cross-Validation. Bootstrap

methods. Information criteria. - Non-linear regression techniques: polynomial regression and “splines” regression. - Methods of selection and “shrinkage”: Stepwise “forward” and “backward” regression vs.

Lasso and Ridge regression Linear regression with supervised principal component. Partial Least Squares.

- Additional methods and decision trees: Random Forests and Boosting. - Unsupervised learning techniques. Principal Component Analysis. - Unsupervised learning nonlinear techniques. Kernel methods and Artificial Neural Networks.

Assessment: - Assignment 1: 15%

- Assignment 2: 15% - Esame Finale: 70 %

Professor: to be assigned

Learning Outcomes: Thanks to the constant growth of data in digital format (e.g. e-commerce, electronic banking), in recent years statistical models for the analysis of "Big Data" have become a crucial instrument for decision-making in several areas such as marketing, finance, and other economic disciplines. The course aims to provide the main tools to "automatically" identify hidden patterns in the data, which can be used to predict future values of the data or make other decisions. After a review of distribution theory, the course moves on to the linear regression model and logistic regression. The central part of the course deals with supervised learning which is based on the construction of a statistical model to predict or estimate an output using a (potentially) large number of inputs. Finally, unsupervised learning (linear and non-linear) will be examined. Exercises using R and case studies form integral part of the course.

Textbooks: James, G., Witten, D., Hastie, T., & Tibshirani, R. (2013). An Introduction to Statistical Learning: with Applications in R. Hastie, Trevor, Robert Tibshirani, and Jerome Friedman. “The Elements Of Statistical Learning: Data Mining, Inference, And Prediction, (Springer Series In Statisti.” (2009): 768.

7a/b BUSINESS STRATEGIES Spring semester; 60 lectures; 7 hrs per week; 8 credits Analyse the key drivers behind the growth of businesses and the techniques and tools used in defining strategies. It is intended to provide students with a series of interpretative tools typical of industrial economics but by adopting a management perspective. In this way, vertical integration, horizontal relationships and economies of scale are viewed and analysed as strategic options. The course is based on the analysis and implementation of strategic decision-making processes such as: Which sector should the enterprise operate? What are the limits to growth?

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Assessment: Business case and final written exam

Professor: Zattoni, Boccarelli/Fontana

Learning Outcomes: The aim of the course is to analyse the key drivers underlying the growth of businesses and the tools used in devising strategy. It is intended to provide students with a series of interpretative tools typical of industrial economics but from a management perspective. In this way, vertical integration, horizontal relations and economies of scale are viewed and analysed as strategic options.

Textbooks: • Collis, D.J., Montgomery, C..A., Invernizzi, G., Molteni, M. 2012. Corporate Level Strategy. McGraw-Hill. Third edition. • Grant, R., M. 2011. L’analisi strategica per le decisioni aziendali. Bologna, Il Mulino, forth edition. • Fontana, F., Caroli, M.G. 2013. Economia e Gestione delle imprese. Forth edition. • Besanko, D., Dranove, D., Shanley, M. 2010. Economics of Strategy. Wiley Edition, 3rd Edition. 7c BUSINESS STRATEGIES Spring semester; 60 lectures; 7 hrs per week; 8 credits Introduction, strategic analysis at the corporate level, industry, resources and skills, institutions, culture and ethics, growth strategies, diversification, vertical integration internationalisation, managing external growth: M&A, agreements, contracts and internal development, management of multi-business firms, horizontal strategies, portfolio matrices, strategic restructuring, divestment strategies, corporate entrepreneurship, strategy appraisal, structure of a strategic plan and the reaction of the financial markets. Industry focus: energy, grocery, luxury and healthcare. Business case simulation.


Professor: Peruffo

Learning Outcomes: Course objectives are: a) to provide the theoretical and conceptual tools required for understanding and devising the corporate strategies adopted by firms; b) to describe the critical success factors of external growth (M&A and alliances) and divestment; c) to provide a complete framework of analysis that takes into account the portfolio optimisation choices made by conglomerates and their strategic and financial reflections; and d) active participation in business game simulation.

Textbooks: - Fontana F., Boccardelli, P., 2013 Corporate Strategy, Hoeply Editore, I Edition. Reading List: - D.J. Collis, C.A. Montgomery., G. Invernizzi, M. Molteni. Corporate Level Strategy. Milano, McGraw Hill. 2012. - F. Fontana, M.G. Caroli. Economia e Gestione delle imprese. Milano, McGraw-Hill, 2010. - R.M. Grant. L’analisi strategica per le decisioni aziendali. Bologna, Il Mulino, 2011. 7d

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BUSINESS STRATEGIES (in English) Spring semester; 60 lectures; 7 hrs per week; 8 credits

The main themes of the course will allow you to address issues pertaining to corporate strategy emphasizing corporate advantage and adding value. At the end of the course, students will be able to do the following: 1.Assess in what businesses should the firm compete; 2.Analyze what activities should be inside/outside the firm’s boundaries; 3.Develop plans for managing alliances and M&135 sas well as assessing their value; 4.Understand the appropriateness of the structure used to implement the firm’s corporate strategy; 5.Evaluate the effectiveness of the firm’s governance mechanisms; 6.Apply the tools learned using both quantitative and qualitative analysis to assess the firms’ corporate strategy.

Assessment: Team:

Case Analyses 20% (40pts) Project 30% (60pts) Individual: Polls 10% (20 pts) Class Participation 10% (20 pts) Final Exam 30%(60 pts) TOTAL 200 pts

Professor: Turner

Learning Outcomes: The firm’s boundaries and restructuring of their corporate strategy is constantly changing as a result of an increase in globalization, competition, and evolving technology. In the current business environment with greater uncertainty it is important to understand the appropriate techniques to use and to be able to ask and answer the critical questions confronting the firm. The tools you learn in this course will help you address some of the fundamental questions pertaining to the firm’s corporate strategy. The course activities are designed to help you think about your thinking, a process called metacognition. This, along with the set of tools and techniques learned in the course, will enable you to successfully perceive and adapt to changes in the business environment and be able to make insightful decisions and recommendations throughout your career.

Textbooks: Custum Publishing 7e BUSINESS STRATEGIES (in English) Spring semester; 60 lectures; 7 hrs per week; 8 credits This course addresses the topic of strategy at the corporate or group level. It examines the main issues involved in corporate strategy, including: what businesses should be brought together within the company? For each business, how much of the value chain should the company participate in? How should the company add/divest businesses through partnerships/acquisitions/internal development? More specifically, the course will cover the following topics:

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- Strategy, Economics of Strategy, Organizational Issues - Strategic Tripod - Vertical Integration - Diversification - Management of the multibusiness firm - Portoflio Matrices - Vertical Integration - Strategic Control - Corporate Governance - CSR - Financial Evaluation of Strategies

Assessment: -Case analyses (team) -Project work (team) -Individual partecipation -Final written exam

Professor: Brunetta

Learning Outcomes: The primary aims of this course are to help you assess corporate strategies and develop superior ones. These skills are particularly useful for those intending to become strategy consultants or investment bankers as well as those who plan to work in, and eventually lead, multi-business groups. The course builds on many concepts covered in the core Strategy course and links to other courses such as Finance and Organizational Behavior. It is aimed at all managers, whether you will have general management responsibilities or will work in a specialist position. The increasing complexity of business activities requires that specialists develop the capabilities to perceive the company as a whole, understand its vision, and work effectively with specialists in other functions within the company or with the company’s business partners. One needs to know the strategic purposes that one serves in order to manage well.

Textbooks: Robert Grant Contemporary Strategy Analysis, 8th Edition, John Wiley & Sons publishing. Additional readings and materials provided by the Professor. 8 COMMUNICATION STRATEGY AND ADVERTISEMENT TECHNIQUES Fall semester; 48 lectures; 7 hrs per week; 8 credits; elective 1) Management and communication: market and consumer evolution; communication in corporate governance; communication and organization. 2) The areas of corporate communication: institutional communication, marketing communication; organizational communication, economic and financial communication; 3) brand management: identity, culture and corporate image. Trademark and communication; 4) the communication mix – corporate communication instruments, means and vehicles; • Media Relations • Advertising; • Sponsorship; • Events; • Digital Communication;

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• Case History ; • Focus; • Sustainability and Green Vision; • Results measuremente; • Crisis communication • Social Communication • Reputation and Consent 5) Plan development; 6) Budget


Professor: Comin

Learning Outcomes: The management of communication is a key element in corporate governance, which is always seeking consensus and to build reputation in the context in which it operates. The course addresses the issue of governance of business communication by discussing issues concerning general communication and marketing, including the use of the most innovative tools. The goal is to transfer skills suited to planning, managing and evaluating the processes of business communication and marketing communications considering theoretical fundamentals, managerial tools and operational techniques, including through an analysis of some successful case histories.

Textbooks: 1. Pastore A., Vernuccio M., “Impresa e comunicazione. Principi e strumenti per il management”, Seconda edizione, Apogeo, 2008. Chapters 4, 6, 20 excluded. 2. Facoltativo: Autore: Gianluca Comin, Donato Speroni Titolo: 2030. La tempesta perfetta Editore: RIZZOLI, 2012. 9 E1-CBL4-GM: COMPANY LAW Fall semester; 48 lectures; 7 hrs per week; 8 credits Companies. Reform. Limited liability companies. Joint stock companies: close companies, companies with a wide shareholder base among the public and companies listed on regulated markets. Partnerships limited by shares. Cooperative societies. Corporate groups. Transformations, mergers and demergers.


Professor: Chiappetta/Olivieri, Niccolini, Blandini, Donativi, Di Amato

Learning Outcomes: The course focuses on the rules that govern the “life” of companies, especially listed ones. It offers an in-depth view of the different phases of organisation and functioning of companies, understood as an essential tool for the organization of financing and liability of business activity. From this perspective, the course will use the case study method to analyse the structure of internal corporate bodies in various governance systems, changes in the shareholding, organisational and financial structure and the phenomenon of corporate groups.

Textbooks:

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Chiapetta/Olivieri: Francesco Chiappetta: “Diritto del Governo Societario – La corporate governance delle società quotate” – Terza Edizione, Cedam 2013; and AA.VV. “Diritto delle Società –Manuale breve”; Giuffrè 2012 only chapters relating to – Patrimonio, capitale e bilancio – Le Società azionarie > Disposizioni generali. Conferimnti. Azioni > Obbligazioni. Strumenti finanziari partecipativi. Patrimoni destinati – La Società a reposnsabilità limitata – Partecipazioni qualificate gruppi di società – Costituzione – Modificazioni statutarie e recesso – Trasformazione, fusione e scissione – Scioglimento e liquidazione Niccolini: F. Ferrara – F. Corsi, Gli imprenditori e le società, Giuffrè, 2011. Blandini: Di Sabato – Blandini, Diritto delle società, Giuffrè, Milano 2011 Or, as an alternative, one of the following: AA.VV., Diritto delle società. Manuale breve, Milano, 2012 Associazione Preite, Diritto delle società, Bologna, 2012 Campobasso, Diritto delle società, Torino, 2011 Presti – Rescigno, Corso di diritto commerciale. Società, vol. II, Bologna. Di Amato: Associazione Preite, Il diritto delle società, a cura di G. Olivieri, G. Presti e F. Vella, Il Mulino, latest edition - G. Presti-M. Rescigno, Corso di diritto commerciale. Società, vol. II, Zanichelli, latest edition - AA.VV., Diritto delle società. Manuale breve, Giuffré, latest edition - F. Di Sabato, Diritto delle società, Giuffré, latest edition Civil Code, updated version. 10 CORPORATE AND INVESTMENT BANKING (in English) Spring semester; 48 lectures; 7 hrs per week; 6 credits Bank Loans: principles, politics and means, Assessment of credit worthiness, Bank loans practices Risk management and financing of corporate firm, Introduction to Capital Markets and partecipants; fund raising and investments through Capital Markets; Debt Capital Markets issuance (bonds and other instruments), Equity Capital Markets transactions (IPO, Follows on); Derivatives Markets; the role of Capital Markets in M&A activity and processes

Assessment: team work evaluation, written exam

Professor: Comana

Learning Outcomes: The course is designed to develop the knowledge and understanding of Banking practices and the core activities and strategies in the fields of Retail and Corporate Banking. The course provides an in-depth analysis of banking products and services and their application to the Retail and Corporate Sector

Textbooks: Corporate investment banking, Mario Comana, McGraw Hill 2015. 11 CORPORATE EVALUATION Fall semester; 60 lectures; 3 hrs per week; 8 credits; elective

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Capital configuration and value standard. Introduction to evaluation methods for businesses. Levered and Unlevered approach. Discount rate, determination of capital cost-opportunity. Direct methods for corporate financial evaluation. The efficient financial markets theory. Multiple theories. Equity side multiples and entity side multiples. Comparable transaction multiples. Indirecti methods for corporate financial evaluation (Discounted Cash Flow Method, Eva, Unlevered DCF, REI, Dividend Discount Model). Corporate acquisition value. M&A operations: strategic economic value, sinergies value, incremental opportunities value. Value representation in the balance sheet and in the consolidated balance sheet. Accouting principles on Business Combinations.

Other Activities: lectures and case studies

Assessment: oral and written exam

Professor: Romano

Textbooks: Recommended textbooks: - G. ZANDA, M. LACCHINI, T. ONESTI, La valutazione delle aziende, Giappichelli, Torino, VI edizione, 2013. - For students following the course in english: T. KOLLER, M. GOEDHART, D. WESSELS, Valuation: Measuring and Managing the Value of Companies, 5° ed., Wiley, New York, 2010. It is useful to consult “Guida alla valutazione” di Borsa Italiana – 2004, downloadable from: http://www.borsaitaliana.it/chisiamo/ufficiostampa/percorsiguidati/laquotazioneinborsa/guidaallavalutazione_pdf.html Recommended readings: - A. RAPPAPORT, Strategic Analysis for More Profitable Acquisitions, in Harvard Business Review, July-August 1979, pp. 99-111. - S.N. KAPLAN, The Market Pricing of Cash Flow Forecasts: Discounted Cash Flow vs. The Method of “Comparables”, in Journal of Applied Corporate Finance, n. 4, 1996, pp. 45-60. - A. DAMODARAN, Dealing with Intangibles: Valuing Brand Names, Flexibility and Patents, January 2006, from: http://pages.stern.nyu.edu/~adamodar/ 12 CORPORATE GOVERNANCE AND INTERNAL AUDITING Spring semester; 60 lectures; 7 hrs per week; 8 credits - Corporate governance: definition and function. - History of the development of systems of corporate governance. - The agency theory and its implications. - The “tunnelling effect” and its implications. - Corporate governance in systems of diffuse ownership: special features. - The single-tier system: main characteristics, strengths and weaknesses. - Corporate governance in systems of concentrated ownership: special features. - The two-tier system. - Corporate governance in Italy: evolution. - Italian legislation and self-regulation. - The role of internal controls in the process of corporate governance. - Evolution over time of the internal auditing function. - First-level controls. - Second-level controls. - Interaction between internal auditing and corporate governance systems.

Other Activities: lectures, case studes, guest speakers

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http://pages/

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Professor: Fiori, Scettri

Learning Outcomes: Provide students with advanced tools to understand the mechanisms of corporate governance and internal auditing.

Textbooks: Assetti proprietari e corporate governance di Alessandro Zattoni, Egea Other slides and articles provided by the lecturers. 13a CORPORATE FINANCE Spring semester; 60 lectures; 7 hrs per week; 8 credits Step 1: Financial Methods Discounted Cash Flow Cost of Capital Step 2: Other methods Market Methods Asset-Based Methods Net Income Method Mixed Methods Economic Value Added Method Adjusted Present Value Method Step 3: Valuation of Shareholdings Step 4: Valuation of Groups Step 5: Valuation of M&A and LBO operations Step 6: Valuation of Distressed firms Step 7: Valuation of Intangibles Relief from Royalties Method Multi Period Excess Earnings Method Real Option Method



Professor: Vulpiani

Learning Outcomes: The aim of the course is to provide students with the main tools for valuing advanced businesses. The lessons will generally involve an explanation of the main valuation models, the identification of valuation problems and the analysis of the possible approaches suggested by the best academic/practical exercises.

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Textbooks: M. Vulpiani, “Special Cases of Business Valuation”, 1st edition, McGraw Hill. 13b CORPORATE FINANCE Spring semester; 60 lectures; 7 hrs per week; 8 credits Investment decisions and and capital budgeting, calculation of WACC – theory and practice, analysis of financial statements and financial ratios with a focus on net debt, cash flow and financial ratios, sources of financing of a company. The leverage effect. Types of debt: bank funding vs. bonds, public equity placement, private equity placement. Company valuation methodologies, financial planning, mergers and acquisitions, derivatives, testimonials, case studies and exercises.



Professor: Gubitosi

Learning Outcomes: The aim of the course is to consolidate knowledge of the principles of finance by alternating lectures on theory with case studies and exercises in order to teach students the skills necessary to resolve problems of a financial nature typical of a business environment (selection of investments, calculation of WACC, choice of best financial structure, valuation of a business and management of treasury risks).

Textbooks: Berk, De Marzo – Finanza Aziendale 1 e 2 – Pearson Other materials provided. 13c CORPORATE FINANCE Spring semester; 60 lectures; 7 hrs per week; 8 credits A) Topics covered in the course of preparatory exercises (which can be asked about at the examination):

A firm’s financial structure and the optimum level of indebtedness and the concept of leverage.

Recourse by firms to the financial market: the issue of convertible bonds and bonds with warrants.

Risk management in corporate finance: measurement methods and risk management in the enterprise; the use of derivatives as hedging instruments: futures, options, swaps.

B) The main programme

Structured Finance: - definition, purpose, development; - structured finance products.

Securitisation: - origins and description of the operating techniques; - the parties involved; - risk and credit enhancement mechanisms.

Credit derivatives: - the parties involved, the products and the reasons for success;

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- CDS: social benefits or cost?

Synthetic securitisation.

A concrete example of securitisation: the Sextant case.

Covered bonds: analysis of the instrument and a concrete case.

Covered bonds and securitisation: two instruments compared.

The financial crisis: - the origin, progression and assessment; - the roots of the crisis: the Rajan “fault lines.

Structured finance: prospects after the crisis: - “Recommendations” on financial regulation; - What future for structured finance?

Leveraged buy-outs: - characteristics and risk profile; - financial structure and persons involved; - characteristics of the target company; - critical success factors.

Mezzanine finance: - the structure of mezzanine debt; - the technical characteristics (subordination, performance covenants, etc.).

Valuation of companies and private equity funds: - traditional methods of company valuation: asset, income and mixed methods; the

financial method and the method of multiples; - general characteristics of private equity; - effects of private equity on investment, operation, management and governance in

enterprises; - valuation of companies in private equity transactions: IRR target and venture capital

method; - private equity after the crisis: signs of recovery; - a specific case.

Project finance: project finance - structure, stakeholders and financial sources; - the risks and guarantees; - the BOOT scheme; - a specific case.

Other Activities: lectures, case studies, guest speakers


Professor: Monti

Learning Outcomes: The course proposes to tackle financial issues that are both topical and of actual use to students who will shortly enter the workforce.

Textbooks: E.Monti, Manuale di finanza per le imprese, ISEDI 2009. Other monographies provided on the website: E.Monti – La crisi dei mutui subprime; E.Monti (a cura di) – I Covered Bond; E.Monti – La Finanza Strutturata: prospettive dopo la crisi; E.Monti (in corso di elaborazione) – Il Private Equity: prospettive dopo la crisi E. Palmisani – La cartolarizzazione dei mutui fondiari: il Caso Sestante 14 CREATIVE INDUSTRIES AND BUSINESS MODEL INNOVATION (in English) Spring semester; 48 lectures; 7 hrs per week; 6 credits

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This course will provide the students with an analysis of the creative industries and of the operators and activities that directly contribute to the production of the creative content in terms of: • Origination, which identifies the creation of cultural and creative ideas and artefacts to embed in a specific product (e.g. design, songs, stories, pictures, scripts, games, styles, characters) • Production, which encompasses all the activities to create commercially viable products (e.g. motion picture production, CD recording, TV production) • Distribution, which allows the diffusion of creative and cultural products in different platforms and channels (e.g. broadcasting, publishing and sale of books, CDs, games, live event production); • Consumption, which represents the final stage of the process, and endows end consumers with the opportunities to experience cultural and creative products in different ways (e.g. personal equipment like television sets, radios or computers, in concert halls and theatres) 143 twill then look at business model theory, value innovation and business ecosystems, in order to understand how firms in creative industries compete and create value. Finally, current and evolving business models in each of the different creative industries will be analysed, applying a number of tools through interactive case discussion.

Other Activities: - traditional lecture - team works - cases studies - presentations and assignments

Assessment: – written test 30% (final exam) - oral (final exam) 10% - class attendance and participation 10% – team work 50% (final exam)

Professor: Pirolo

Learning Outcomes: Creative industries are those industries which have their origin in individual creativity, skill and talent and rely heavily on the generation and exploitation of intellectual property. Creative industries rank among the fastest-growing sectors of the global economy contributing significantly to employment and wealth creation. Despite their importance, professionals working inside organizations competing in such industries are highly rewarded for their creative and intellectual skills but often lack the necessary managerial skills to thrive in such complex and turbulent businesses. This course aims to fill this gap and act as a bridge between the purely creative thinking of artists and the profit-driven mentality of business-trained professionals.

Textbooks: This course uses academic papers, industry reports and cases, indicated for each class. 15 DIGITAL AND SOCIAL MEDIA MARKETING Fall semester; 60 lectures;3 hrs per week; 8 credits - The brand management - The determination of value proposition - The marketing mix evolution - The new brand touch points ( digital channels)

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- The new digital customers - The new social macro trends - Structure of marketing plan - The new promotion - Web site management - Social networks - User generated contents - Search marketing - CRM digital - Mobile/multi screen marketing

Other Activities: Full interaction, group works, business simulation

Assessment: midterm written exam, works in groups, classroom presentation

Professor: Ibarra

Learning Outcomes: - Understanding the evolution of marketing - Understanding the new customers (digital natives) - Understanding the new digital brand touch points - Understanding how to manage digital channels - The new frontier of mobile/multiscreen marketing

Textbooks: - Marketing Management (Kotler, Keller, Ancarani, Costabile) - The new digital age (Schmidt, Cohen) - Likeable Business (Kerpen) - Don't make me think (Krug) - Digital Marketing (Ryan, Jones) - Digital Marketing (Kaufman, Horton) - Digital Marketing (Alan Charlesworth) - How to measure digital marketing (Laurent Flores) - Big Data (Bernard Marr) - Dataclysm (Christian Rudder) - Predictive Analytics, Data Mining and Big Data (Steven Finlay) - A social strategy (Mikolaj Jan Piskorski) 16a ECONOMICS AND MANAGEMENT OF INTERNATIONAL ENTERPRISES Fall semester; 60 lectures; 7 hrs per week; 8 credits; elective - Globalisation: scenarios and trends - The process of internationalisation of businesses: theory and methods - Methods for entering foreign markets - Policies to support the internationalisation of SMEs - The management of human resources in international businesses - The relationship between parent and subsidiaries of international businesses - The management of international operations in international businesses - Localisation choices - International marketing (strategic and operational) - International finance - Management of international research and development


Assessment: Oral and written exam

Professor: Dandi

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Learning Outcomes: - Critically analyse the problems of global competition - Develop capacity for analysis, design and

implementation for the international growth of an organisation

- Understand the pros and cons of the different methods of internationalisation

- Be more aware of how to work in an internationalised organisation

Textbooks: Caroli, M., Gestione delle imprese internazionali, seconda edizione, McGraw Hill, latest edition. 16b ECONOMICS AND MANAGEMENT OF INTERNATIONAL ENTERPRISES Fall semester; 60 lectures; 7 hrs per week; 8 credits; elective 1. International competitive scenarios 2. Entry strategies for foreign markets 3. The internationalization of SMEs 4. Operations management at the international level 5. International marketing 6. International financial management


Assessment: Active participation in class, written exam and optional oral exam

Professor: Caroli

Learning Outcomes: The course teaches students about the tools required to develop strategic business decisions. It is proposed to develop the capacity for environmental and internal analysis. Also analysis of the managerial tools of some key business functions.

Textbooks: Caroli M. (a cura di) gestione delle imprese internazonali, third edition 2015 Mc Graw-Hill 17 ECONOMICS AND MANAGEMENT OF THE MEDIA Fall semester; 60 lectures; 7 hrs per week; 8 credits; elective 1. Analysis of business model in the audiovisual sector. 2. Innovation and globalization in the audiovisual industry. 3. Convergence between television and the internet. 4. Focus on Italian audiovisual industry: 2007-2013- The strategies of the main groups.



Professor: Balestrieri

Learning Outcomes: The aim of the course is to provide students with in-depth knowledge about digital media, focusing on trends at global level (television, cinema and online services) and on the challenges that the Italian audio-visual industry will have to face up to.

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Textbooks: Materials will be provided during the semester on the website of the course. 18 ENTREPRENEURSHIP AND VC (in English) Spring semester; 60 lectures; 7 hrs per week; 8 credits The course “Entrepreneurship and Venture Capital” is made of the following sections: Entrepreneurship Foundations; Entrepreneurship in Action; Promoting and Financing Entrepreneurship. Here is described in detail the content of each section. First Section. Entrepreneurship Foundations. -Entrepreneurship Theories and Approaches. Two lectures; presentation of main theories of entrepreneurship and illustration of practical issues. Case study discussion. -Entrepreneurial Development and Innovation. Two lectures; analysis of how entrepreneurial ideas become innovative and creative ventures. Case study discussion. -Entrepreneurship and Contexts. Two lectures; examination of why local contexts are relevant in order to understand entrepreneurship dynamics and success. Case study discussion. -Models of Entrepreneurial Action. Two lectures; investigation about the main models of entrepreneurial action (i.e., garages vs corporations). Guest speaker. Second Section. Entrepreneurship in Action -Sources of Entrepreneurial Opportunity. Two lectures; examination and discussion regarding the main sources of entrepreneurial opportunities (i.e.: science, technology, regulatory change, market discontinuity, and so on). Case study discussion -Harnessing change as an Entrepreneurial Skill. Two lectures; analysis of change dynamics and how to take advantage of change with the purpose of launching a new venture. Case study discussion -Discovering Opportunities: Sensing is Believing.and Brokering. Two lectures; investigation into the dynamics leading to the discovery of entrepreneurship: creativity, analogical thinking, adaptive imitation, knowledge and idea brokering. Case study discussion -Seizing Opportunities. Two sections; How to write a winning business plan: content, structure, presentation. Guest speaker. Third Section. Promoting and Financing Entrepreneurship -Introduction to venture capital. Two sections; The analysis of venture capital investments; Term sheets (basic). Case study discussion. -The contractual framework. Two sections; Term sheets (the charter); Investor rights agreement. Case study discussion. -Venture capital valuation and financing; Two sections; the VCmethod; DCF analysis of growth companies. Guest speaker - Venture capital valuation and financing (continued); Two sections; Later round issues. Case study discussion.


Assessment: Individuals’ participation to case study discussion (Cases scheduled for class activities must be read carefully before the class. 25%) End-course teamwork. 25% Written exam.50%

Professor: Lanza

Learning Outcomes: The purpose of the course “Entrepreneurship and Venture Capital” is to provide students with a detailed examination of the most relevant theoretical perspectives on, and applied approaches to entrepreneurial business, new venture foundation and start-up financing. To accomplish these goals, the course is divided into three

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main sections: Entrepreneurship Foundations; Entrepreneurship in Action; Promoting and Financing Entrepreneurship. Each section will treat in detail a number of topics, by means of lectures, seminars, guest speaker’s lectures, case study presentation and discussion. At the end of the course, students should be able to: assess an entrepreneurial idea, evaluate such opportunity in terms of both strategic potential and financial return, identify the most appropriate financing vehicle, and, last but not least, discuss the technological, organizational, human capital and law implications of launching a new business.

Textbooks: Hishrich and Kearney. 2014. Managing Innovation and Entrepreneurship. Sage Metrick A., Venture Capital and the Finance of Innovation, Wiley, 2007. Selected readings course-pack, available through tbd 19 EXTRAORDINARY FINANCIAL OPERATIONS Spring semester; 60 lectures; 7 hrs per week; 8 credits; elective Finance of extraordinary operations: contents and objectives. Financial Markets structure. Corporate Valuation. Corporate structure. Corporate Governance. Capital Markets operations. Private Equity and Venture Capital; Leverege Buy-Out, Management Buy-Out, M&A Reconstruction and Crisis, Financial Crisis and crisis management policies.



Professor: Pansa

Learning Outcomes: The course aims develop the skills necessary to understand and carry out M&A type transactions. The content of the course will focus on corporate group, business restructuring, mergers and acquisitions, private equity and leveraged buyouts.

Textbooks: Provided on the syllabus. 20 E2-FM9-GM: FASHION MANAGEMENT (in English) Fall semester; 60 lectures; 7 hrs per week; 8 credits

Fashion and Luxury successful brands stand for many different things in the minds of customers and they all succeed in generating consumer interest, advocacy, even passion and, above all, value for the companies. This course focuses on strategic and creative management of Brand, Retail, Customer Experience: 3 related essential and strategic tools in the luxury/fashion business. BRAND Brand as the most tangible of intangible assets: in the Luxury/Fashion Business they share between 30 to 80% of the total Company value. Where is the value? Which are the main contributing factors in the Brand valuation? How to maintain and increase the value of this fundamental asset? Brand values as the Company commandments. The Brand Identity Model.

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RETAIL Retail strategy: different options for different objectives. An overview of different retail models in the luxury/Fashion market. Retail Management, Retailing indices. Retail as a communication tool. Retail innovation. CUSTOMER EXPERIENCE Customer Experience Management (beyond customer satisfaction): From Traditional Marketing to Experiential Marketing, Emotion as main human behavioral driver. Measuring the Customer Experience: the Customer Experience Audit (providing outdoor training and activities). Building the Customer Experience in all the touch-points Brand/Customer. How to build and manage it related to Fashion Companies, Maintain and enhance the Customer Experience through Benchmarking the Customer Experience with the “Out of the Box approach” to maintain an always innovative and surprising Customer Experience. THE FASHION MARKET The Fashion Pipeline, Fashion seasons and turnover, Trends: how trends start, Style: creativity and inspiration as fundamental elements in the fashion business Fashion Companies Organization and functions: who does what in a fashion company. Communication: from the product oriented to the lifestyle oriented communication in the Fashion/Luxury industry, Consumer Behavior: why people buy things they don’t need?, Sustainability and CSR in the Fashion business

Assessment: Team Work Assignment 40% Outdoor Activities, class and case participation 10% Final Exam (written or oral) 50%-

Professor: Fei

Learning Outcomes: The Objectives of the course will aim to give our students: • the skills to identify, understand and manage the main tools to drive a fashion business in an innovative way • the knowledge and capacity to understand the actual dynamics of fashion enterprises • the capacity to understand priorities so as to be able to manage the business with a “systemic” approach between Brand, Retail, Organization and Customer Experience Strategy • Independent thinking: being able to think out of the box, recognize innovation and avoid a silo-mentality approach • Communication skills: learning how to recognize brand values and communicate them with coherence and effectiveness.

Textbooks: MANDATORY BOOK Stefania Saviolo Erica Corbellini, Managing Fashion and Luxury Companies ETAS ©2009 Other Suggested Books (if you really loved the matter here’s a way to deepen it): Bernd Schmitt Customer Experience Management, New York Free Press ©2003 Mark Tungate, Fashion Brands: branding style from Armani to Zara, KOGAN PAGE © 2005-2008 Tony Hines Margaret Bruce, Fashion Marketing, ELSEVIER LTD © 2007 G. Zaltman, How Customers Think: Essential Insights into the Mind of the Market, Harvard Business Press ©2003 Shaun Smith, Managing The Customer Experience, Turning customers into advocates, FT Prentice Hall ©2002

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21a/b FINANCIAL MATHEMATICS Fall semester; 60 lectures; 7 hrs per week; 8 credits 1. Operations Research: - linear optimisation problems with business applications:

• analytical solution (simplex method); • graphics solution; • solutions through a spreadsheet;

- outline of dynamic programming.

2. Models for the construction of efficient portfolios: - mean-variance criterion; - frontier and the efficient frontier; - Beta and single model index; - Capital Market Line; - Security Market Line.

3. Company Treasury Management: - asset / liability management; - business portfolios; - contractual characteristics of the cash flow basis; - introduction to the financial valuation.

4. Actuarial techniques in life insurance and non-life insurance: - fundamental contracts; - determination of premiums; - mathematical and technical reserves.


Assessment: Oral exam and written exam

Professor: Olivieri, Fersini


Textbooks: PITACCO – Matematica e Tecnica Attuariale delle Assicurazioni sulla Durata di Vita (Ed. Lint – Trieste); BORTOT, MAGNANI, OLIVIERI, ROSSI E TORRIGIANI – Matematica Finanziaria (Monduzzi Editore – II ed. – 1998). Handouts provided by the professors. BENNINGA, S.-Modelli Finanziari- La finanza con excel (2^ edizione) Mc Grow Hill, 2010. 21d FINANCIAL MATHEMATICS Fall semester; 60 lectures; 7 hrs per week; 8 credits Part I- Financial Mathematics. Portfolio selection in a deterministic and in a risky (probabilistic) setup. Asset-liability management via immunization. Mean-variance analysis and CAPM model. Pricing and hedging of derivatives in discrete market models.

Part II – Actuarial mathematics. Main contracts, valuations of insurance premia and reserves.

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Assessment: participation, written exam

Professor: Biagini

Learning Outcomes: Provide the quantitative tools for finance in a broad sense, which enable one to manage/select bond and equities portfolios, to understand common derivatives, to measure risk and assess hedging needs.

Textbooks: a) Giacomo Scandolo, Matematica Finanziaria. AMON edizioni, 2013 (for the first 7 weeks). b) John Hull, Opzioni futures e altri derivati, Pearson edizioni 2012 (weeks 8, 9 and 10). c) E. Pitacco. Elementi di Matematica delle Assicurazioni, Lint edizioni 2002 for the final part. Suggested Exercise books: Giacomo Scandolo, Esercizi di Matematica Finanziaria, AMON edizioni 2013. Other Suggested textbook: BORTOT, MAGNANI, OLIVIERI, ROSSI E TORRIGIANI – Matematica Finanziaria (Monduzzi Editore – II ed. – 1998) 22 HISTORY OF FINANCE AND FINANCIAL SYSTEMS Fall semester; 60 lectures; 7 hrs per week; 8 credits; elective From economic systems to systemic globalization. The process of financiarization of economy. The new income distribution. History and eovolution of the Eurosystem. From interventism to free market. Genesys and objectives of social and economic cohesion. Asymmetries and rigidities. The new international division of production and work. The role of sovereing funds. Washington Consensus and Keynesian Consensus.

Other Activities: lectures


Professor: Di Taranto

Learning Outcomes: The course offers students an overview of contemporary economic and financial systems, with special reference to EMU, sovereign funds and the relationship between the euro and other international currencies.

Textbooks: AA.VV., Lezioni dalla crisi, Luiss University Press, Roma, 2012 Giuseppe Guarino, Eurosistema. Analisi e prospettive, Giuffrè editore, Milano 2006 P. Savona, Il ritorno dello Stato padrone. I fondi sovrani e il grande negoziato globale Rubbettino, 2009. 23a INDUSTRIAL DYNAMICS Fall semester; 60 lectures; 7 hrs per week; 8 credits From market structure to industrial dynamics. Entry, exit and survival of firms. The decisive reasons for entry, exit and survival of firms. The role of innovation. Industrial dynamics models. Industrial and sectoral systems of innovation. Services for manufacturing and industrial dynamics. Entrepreneurship. Italian industry in the global competition.

Prerequisites: Microeconomics, Industrial Economics


Professor: Meliciani

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Learning Outcomes: The main objective of this course is to enable students to understand and analyse the forces that shape industrial dynamics. Lectures will present the most significant literature on the subject. The in-class explanation of the content of these works is intended to make them easily accessible to students bearing in mind that a lot of the literature is in English. At the end of the course, students will be able to: - understand, design and conduct analysis on the

evolution of sectors and competition; - analyse and describe the evolution of businesses, with

particular attention to entrepreneurship. - grasp the effects of policy, direct and indirect, on

industrial dynamics; - conceptualise issues related to the specificness of the

Italian industrial system (districts, networks and social innovation);

- develop skills in strategic analysis.

Textbooks:

The course is based on the fundamental works that created the field of industrial dynamics. The reading material, almost all in English, will be illustrated and explained in detail during class so that students can use it. However, not all the material included on the reading list will be discussed in class. Moreover, the current reading list may well be added to by material discussed in class (which will then fall within the subjects for examination). The textbook, covering Industrial only a few topics of the program (chapters 2, 3, 5-9 and 14) be allowing for study of other related matters, is L.M. Cabral, Economia Industriale, Carocci. 23b/c INDUSTRIAL DYNAMICS Fall semester; 60 lectures; 7 hrs per week; 8 credits - Understand, design and conduct analysis on the evolution of sectors and competition. - Analyse and describe the evolution of businesses, with particular attention to

entrepreneurship. - Grasp the direct and indirect effects of policy on industrial dynamics. - Conceptualise issues related to the specificities of the Italian industrial system (districts,

networks and social innovation) - Develop skills in strategic analysis.

Prerequisites: Microeconomics, Industrial Economics


Professor: Rullani, Lotti

Learning Outcomes: The main objective of this course is to enable students to understand and analyse the forces that shape industrial dynamics. Lectures will present the landmark literature on the subject. The in-class explanation of the content of these works is intended to make them easily accessible to students bearing in mind that a lot of the literature is in English.

Textbooks:

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The course is based on the fundamental works that created the field of industrial dynamics. The reading material, almost all in English, will be illustrated and explained in detail during class so that students can use it. However, not all the material included on the reading list will be discussed in class. Moreover, the current reading list may well be added to by material discussed in class (which will then fall within the subjects for examination). The textbook, covering Industrial only a few topics of the program (chapters 2, 3, 5-9 and 14) be allowing for study of other related matters, is L.M. Cabral, Economia Industriale, Carocci. 23d INDUSTRIAL DYNAMICS Fall semester; 60 lectures; 7 hrs per week; 12 credits

1. Horizontal Mergers • Introduction: merger waves, profitability of mergers • The economic approach to merger analysis: unilateral effects, coordinated effects, efficiencies • Merger Control in the EU: jurisdiction, procedure, substantive analysis, remedies

2. Vertical Integration and Multinationals • Why do firms exist? Incomplete contracts and hold-up • Limits to firm size • The optimal allocation of property rights • The global supply chain: Foreign direct investment (FDI) and the multinational firm

3. Vertical Relations • The double-marginalization problem • Horizontal externalities among retailers • Vertical restraints: retail price maintenance, quantity forcing and exclusive dealing • Exclusionary effects of vertical restraints • EU policies towards vertical agreements


Professor: Giardino-Karlinger

Learning Outcomes: Every day, managers have to decide where to draw the boundaries of their firms, and how to structure their relations with suppliers and customers. This course introduces master’s students to selected contributions in modern economic theory that can help them make better choices and understand the legal and policy constraints that they will face in making those choices.

Textbooks: In English: 1) Paul Belleflamme & Martin Peitz: Industrial Organization – Markets and Strategies, Cambridge University Press, 2010. 2) Massimo Motta: Competition Policy: Theory and Practice, Cambridge University Press, 2004. 3) Michael D. Whinston: Antitrust Policy Toward Horizontal Mergers, In M. Armstrong and R. Porter (eds.), (2007) Handbook of Industrial Organization vol. 3, pp. 2371-2440. 4) Jeffrey Church and Roger Ware: Industrial Organization: A Strategic Approach, McGraw Hill, 2000, Chapter 3. 5) G. Barba Navaretti and A. J. Venables: Multinational Firms in the World Economy, Princeton University Press, 2004, Chapter 1. In Italian: 1) Carlo Scognamiglio Pasini (CSP.), Economia Industriale, LUISS University Press, 2012. 2) Dennis W. Carlton e Jeffrey M. Perloff (CP.), Organizzazione industriale, McGraw-Hill, 2013. 3) Lynne Pepall, Daniel J. Richards, George Norman, Organizzazione industriale, McGraw-Hill, marzo 2009.

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24 INTERNAL AUDITING, COMPLIANCE AND CORPORATE RISK MANAGEMENT Fall semester; 48 lectures; 3 hrs per week; 6 credits; elective The first part is dedicated to internal audits while the second part is devoted to compliance with corporate risk management and the implementation of organisational models pursuant to Legislative Decree No. 231/01.


Professor: Ferrari/Ricci

Learning Outcomes: Learning about the system of auditing and internal controls together with the most modern and efficacious elements of corporate compliance.

Textbooks: Handouts and materials provided on the website 25 INTERNATIONAL ACCOUTING STANDARDS (in English) Spring semester; 48 lectures; 3 hrs per week; 6 credits The course examines the International Accounting Standards IAS-IFRS issued by the IASB and endorsed by the European Union. We examine both the general body of standards and some of the more significant individual accounting standards. In addition, we examine the importance of having a single, universal set of accounting standards for all countries.


Professor: Smith

Learning Outcomes: Understanding the structure of IFRS and understanding the application of several important standards. Evaluating the strengths and weaknesses and the underlying economic tensions related to different approaches to accounting standard setting.

Textbooks: Christian, D. and N. Ludenbach. (2013). IFRS Essentials. The professor will provide lecture notes for each session of this course on the course website. 25a/b INTERNATIONAL ACCOUTING STANDARDS Spring semester; 72 lectures; 3 hrs per week; 8 credits The course examines the International Accounting Standards IAS-IFRS issued by the IASB and endorsed by the European Union, as a set of unified principles and the most significant single accounting principles


Professor: Di Lazzaro, Tezzon

Learning Outcomes: Knowledge of the main methodologies for the formation and the preparation of IAS/IFRS compliant financial statements. Application of that regulatory framework to

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accounting practice.

Textbooks: Pricewaterhousecoopers, Principi contabili internazionali. Interpretazioni e confronti con i principi contabili nazionali, Ipsoa 2011 Principi contabili internazionali emanati dallo IASB ed omologati dall’UE. Documenti OIC, Slides provided by the professor. 25c INTERNATIONAL ACCOUTING STANDARDS Spring semester; 72 lectures; 3 hrs per week; 6 credits

Module 1 – Financial statements: general principles, accounting standards of reference and rules of preparation. Module 2 – Financial statements in accordance with IAS/IFRS Module 3 – Financial statements: valuation of the main items in the balance sheet Module 4 – Other types of financial statements: key issues


Professor: Fortuna

Learning Outcomes: The course aims to contextualise and develop the main aspects of the preparation of financial statements according to international accounting standards, with considerable attention to the comparison of national and international accounting practice. The course falls within the business disciplines broaden and consolidate the knowledge acquired in business administration and accounting and financial reporting.

Textbooks: • A. Quagli, “Bilancio d’esercizio e principi contabili”, Torino, Giappichelli, 2015 • F. Fortuna (a cura di), “Raccolta di norme per l’esame di Stato”, Le Monnier, Firenze, Ultima edizione Other materials from the professor. 26 E2-IB12-GM: INTERNATIONAL BUSINESS (in English) Fall semester; 60 lectures; 7 hrs per week; 8 credits The basic content of the course includes (1) an overview of the means of conducting international business, with an emphasis on what makes international different from domestic; (2) the effects of the social systems within countries on the conduct of international business; (3) the major theories explaining international business transactions and the institutions influencing those activities; (4) the financial exchange systems and institutions that measure and facilitate international transactions; (5) the dynamic interface between countries and companies attempting to conduct foreign business activities; (6) corporate strategy alternatives for global operations; and (7) international activities that fall largely within functional disciplines.

Professor: Dandi

Assessment: - Participation in class through a group assignment - Written exam: multiple choice questions and 1 open question - Oral exam

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Learning Outcomes: The course aims to contextualise and develop the main aspects of the preparation of financial statements according to international accounting standards, with considerable attention to the comparison of national and international accounting practice. The course falls within the business disciplines broaden and consolidate the knowledge acquired in business administration and accounting and financial reporting.

Textbooks: International Business: Competing in the Global Marketplace, 9th edition (GLOBAL), by Charles W.L. Hill, McGraw Hill. Harvard Business Cases specified in class. 27 E2-IF13-GM: INTERNATIONAL FINANCE (in English) Fall semester; 60 lectures; 7 hrs per week; 8 credits Currency Markets:The Spot Market (S): Chapter 3·Bank for International Settlements (2007), Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity. ·Galati, G. and M. Melvin (2004), “Why has FX trading surged? Explaining the 2004 triennial survey” BIS Quarterly Review, December 2004. ·Federal Reserve Bank of New York (2010), Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity. The Forward Market Law of one Price, Covered Interest Rate Parity (S): Chapter 4 Arbitrage, Hedging and Speculation (S): Chapter 5 Galati, G., Heath, A., McGuire, P. (2007), “Evidence of Carry Trade,” BIS Quarterly Review, September 2007. Currency Futures Futures versus Forward contracts. Hedging (S): Chapter 6 Currency Swaps (S): Chapter 7 Currency Options Arbitrage, Hedging and Speculation (S): Chapter 8. Hedging and Valuation (S): Chapter 9. Exchange Rate Risk (S): Chapter 10. (S): Chapter 11. Long-Term International Funding (S): Chapter 19. (S): Chapter 21. Country Risk Class Notes.


Professor: Benigno

Learning Outcomes: The aim of this course is to provide an integrated view of international financial markets and the management of multinational firms. The focus will be on the markets for spot exchange, currency forwards, options, swaps, international bonds, and international equities. For each of these markets, students will study the valuation of instruments traded in these markets and, through cases, the application of these instruments to the following corporate decisions: (i) managing exposure to exchange rates and country risk, (ii) financing in international capital markets, and (iii) international capital budgeting in the presence of multiple currencies, international tax regulations, and sovereign risk.

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Textbooks: Sercu, Piet (2008) International Finance: Theory into Practice, Princeton University Press. (S) There is a course’s web page available at http://docenti.luiss.it/benigno/ which contains updated information on the syllabus and course’s materials. 28 INTERNATIONAL HUMAN RESOURCES MANAGEMENT (in English) Spring semester; 60 lectures; 7 hrs per week; 6 credits The course consists of two specific, although related, parts. The first part deals with comparative HRM, in other words it looks at major systems across countries. The countries which will be mainly touched on are the US, UK, Germany, Sweden, Japan, France, and Italy. Some attempt will also be made to introduce China and India. The second part of the course deals with the management of human resources in multinational enterprises, considering key organizational issues and major environmental factors they confront. The course will focus specifically on the following areas. 1. Introduction – economic governance, corporate governance, and workforce governance. 2. National business systems, varieties of capitalism, and systems of HRM 3. Management strategies, structures, and styles 4. Recruiting, retaining, and separating employees; training and development; and job tenures and careers 5. Pay and benefits 6. Work organization 7. Dealing with employee voice and industrial relations 8. Multinationals – general introduction and the example of mergers and acquisitions 9. Multinationals – labour standards, statutory and voluntary regulation Or 9. Finanicialization. Corporate governance, and HRM 10. Multinationals – flexibility – off-shoring and out-sourcing. 11. Challenges, continuity, change, and convergence.

Assessment: Presentation, written and/or oral test

Prerequisites: Macroeconomics/Microeconomics

Professor: Gospel

Learning Outcomes: On successful completion of the course, you will have: - An acquaintance with key areas of HRM - An appreciation of the main areas of HRM, in comparative and international perspective - An understanding of national business systems and culture as they interrelate to HRM - An understanding of the influence of employers, employees, trade unions and the state in shaping of HRM - An understanding of the management of human resources in multinational companies. - An ability to assess critically a variety of contemporary, policy-relevant issues and perspectives which inform the study of HRM - An ability to consider outcomes of HRM arrangements

Textbooks: There will be no reference book. Students MUST read the articles and papers below – this is mainly one per week, but sometimes more. Readings are available on line (some without having to go through JStore or its equivalent). The instructor will supply copies of papers and cases. The intention is to make all readings available in a pack, but you may also want to use the LUISS

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library website, electronic resources/periodicals: http://biblioteca.luiss.it/en/electronic-resources/periodicals. Some readings are book chapters or reports and these will be available in the pack or from the instructor. However, there are a variety of Comparative and International HRM texts which cover the main themes of the course. You might wish to consider: 1. R. A. Noe, J. R. Hollenback, B. Gerhart, and P.M. Wright, Fundamentals on Human Resources Management (Global Edition), 4th edition, McGraw- Hill-Irwin, 2011 2. T. Edwards and C. Rees, International Human Resource Management: Globalisation, National Systems, and Multinational Companies, 2nd Edition, 2011, Pearsons. The key journals in the area include: Human Resource Management (HRM) Human Resource Management Journal (HRMJ) International Journal of Human Resource Management (IJHRM) Asia Pacific Journal of HRM British Journal of Industrial Relations(BJIR) European Journal of Industrial Relations (EJIR) Human Relations Industrial Relations (US Journal) Industrial and Labor Relations Review (US Journal) Industrial Relations Journal (IRJ) Some of the most useful websites of employers, trade unions, governments and intergovernmental agencies include: European Foundation for Improvement of Living and Working Conditions, http://www.eurofound.europa.eu/ European Industrial Relations Observatory: www.eiro.eurofound.ie/ European Trade Union Institute http://www.etui.org International Labour Organisation: www.ilo.org Organisation for Economic Cooperation and Development, especially Employment Outlook http: //www.oecd.org/els/emp/oecdemploymentoutlook.htm World Bank Data Catalog http://datacatalog.worldbank.org/ Encylopedia of the Nations http://www.nationsencyclopedia.com/

29 E2-ITCP15-GM: INTERNATIONAL TRADE AND COMMERCIAL POLICIES (in English) Fall semester; 60 lectures; 7 hrs per week; 8 credits The focus will be on the role of technology, factor endowments, economies of scale, demand and transport costs in explaining the patterns of trade and multinational activity. Another key issue will be that of the consequences of MNEs for wages, employment, and productivity. Some of the questions that will be addressed are: - Why do countries trade? And why do MNEs arise? - Who gains and who loses from MNEs and FDI? - What determines the actual behavior of contemporary MNEs? After sketching the main recent theories of the multinational firm, some empirical evidence and some case studies will be surveyed. Students will actively participate in presenting and comparing specific experiences of multinational activity.

Assessment: Presentation, written and/or oral test

Prerequisites: Macroeconomics/Microeconomics

Professor: Manzocchi

Learning Outcomes: Provide conceptual instruments needed to understand the current globalization phase.

Textbooks:

http://biblioteca/

http://www.eurofound.europa.eu/

http://www.eiro.eurofound.ie/

http://www.etui.org/

http://www.ilo/

http://datacatalog.worldbank.org/

http://www.nationsencyclopedia.com/

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Frederick Guy, The global environment of business, Oxford U.P (2009). Giorgio Barba Navaretti and Anthony J. Venables, Multinational Firms in the World Economy, Princeton University Press (2004). 30 LABOUR LAW AND INDUSTRIAL RELATIONS Fall semester; 60 lectures; 7 hrs per week; 6 credits Trade unions, union activities, collective bargaining agreements, the right to strike, employees, self-employed individuals, performance and termination of employment relationships, and rules governing employment contracts.


Professor: Martone

Learning Outcomes: The course provides a solid foundation regarding the traditional and current issues of trade union law and individual employment relationships, both in the public sector and in the private sector. The basic goals of the course are to provide the student with the ability to interpret and apply the rules based on law and agreements in the matter.

Textbooks: Pessi R., Lezioni di diritto del lavoro, Giappichelli, Torino, latest edition. 31 LEGAL ISSUES IN MARKETING Fall semester; 60 lectures; 7 hrs per week; 6 credits In brief, the course covers the legal aspects of the data management, privacy protection, the legal protection of trademarks and distinctive signs, commercial distribution contracts, B2C contracts, consumer protection in Europe and Italian law, and antitrust law as it pertains to marketing.


Professor: Di Ciommo/Pardolesi

Learning Outcomes: The course proposes to teach students the key legal concepts that will enable them to have a thorough knowledge of the most important issues that concern marketing.

Textbooks: Reference will provided at the beginning of the course. 32 E2-LM16-GM: LUXURY MANAGEMENT (in English) Fall semester; 60 lectures; 7 hrs per week; 6 credits The course will give a general overview of the marketing theory applied to the luxury industry. The introductory part is dedicated to the definition of luxury, the key players of the industry and their brands portfolio. The course also focus the attention on the importance of the brand

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identity, the difference in the purchasing behavior. The central part is analyses the marketing variables applied to the luxury with an extensive review of communication, CRM, pricing and budgeting. A relevant part is also dedicated to the importance of retailing in the luxury strategy and a specific project work on this matter will end the course.

Assessment: 1. Class participation (5%) – 1,5 points

2. Course Projects (25%) – 7,5 points 1. Final exam (70%) – 21 points

Professor: Festa

Learning Outcomes: The course has the objective to give a general knowledge of the luxury industry, identifying the key players, the relevant trends and understand the main marketing differences between this market and the fashion and mass market business.

Textbooks: Not available at time of publication.

33 MARKETING METRICS Fall semester; 60 lectures; 4 hrs per week; 6 credits The course covers several topics including: - link between marketing metrics and value creation metrics, adopting the balanced scorecard

point of view; - metrics to measure market demand; - metrics to measure competitors’ performance; - customer and brand equity metrics; - metrics for the measurement of product, price, place, sales force, communication, digital

marketing and social media communication performance; - metrics for the measurement of innovation processes performance.

Other Activities: case studies

Assessment: Case analysis e business report on specific projects (team work) 40% Final written exam 30% discussion of a case 30%

Professor: Costabile

Learning Outcomes: The main objectives of the course are: - to familiarise students with the main tools to measure

marketing performance, the rationale underlying those metrics and the factors make them effective and reliable, the methodologies and the techniques useful to identifying the parameters over time, linking them to various indicators adopting different analytical perspectives

- to analyse, discuss, and test the main processes through which marketing management activities affect companies’ competitiveness and value creation processes, such to be achieved through case studies, guest speakers’ presentations and field projects;

- to analyse, discuss and test marketing decision making processes from a dynamic point of view, that entails resource allocation, verification of the effectiveness of marketing programs, resource evaluation (e.g. brand, relationship with customers, channel

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distribution, etc.) and their value.

These activities will help students develop their ability to plan and manage a broad range of indicators to measure and evaluate marketing performance. Similarly, they will improve understanding and ability to manage all single marketing processes, each one of them characterised by specific performance metrics.

Textbooks: Valdani E., Ancarani, F., 2011, Marketing Metrics. Il marketing che Conta, Egea, Milano Farris P.W., Bendle N.T., Pfeifer P.E., Reibstein D.J., 2012, Marketing Metrics. Misurare e Valutare le Attività di Marketing, Pearson Italia, Milano 34a MARKETS, REGULATIONS AND LAW (in English) Fall semester; 60 lectures; 4 hrs per week; 6 credits Diritto ed economia della regolazione; mercati della tecnologia e dell'informazione; beni comuni; diritti di proprietà; concorrenza tra ordinamenti giuridici


Assessment: Participation in class, interaction, case group discussions, take-home exams

Professor: Granieri

Learning Outcomes: The course proposes to provide students with the fundamental knowledge to assess the impact of regulation on the market and on business performance.

Textbooks: Handouts provided by the professor. 34b MARKETS, REGULATIONS AND LAW (in English) Fall semester; 60 lectures; 4 hrs per week; 6 credits Law and economics of antitrust and regulation; property rights, liability rules, commons, anticommons and semicommons; elements of liberalization and market regulation; cost-benefit analysis and regulatory impact assessment.


Assessment: Written exam, case study presentation

Professor: Colangelo

Learning Outcomes: Train students on the law and economics of antitrust and regulation.

Textbooks: Teaching materials will be available on Professor personal webpage (https://sites.google.com/site/giuseppecolangelouni/home/teaching) at the outset of the course. 35 ORGANIZATIONAL THEORY AND DIGITAL NETWORK (in English)

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Spring semester; 60 lectures; 4 hrs per week; 6 credits The course will cover the following topics: Organizational economics and market exchange, Organizational ecology, Networks, Institutional theory, Social movements, Resource dependence theory, Social capital, Network-actor theory, Sensemaking and enactment, Digital business models, Disruptive strategies in digital economy, Digital network and their dynamics, Public policy and digital economy, Delivering digital services through public private partnerships, Social media, Frugal and reverse innovation in digital economy, Community and public health and digital networks, Neural networks and organizations, Content Strategy for Professionals in Organizations.

Other Activities: case and article discussions, and web based simulation

Assessment: o Continuous Evaluation Grade – worth 60% of the final grade consisting of: o At least two homework assignments worth together 15% of the final grade o Class preparation worth 5% of the final grade o Final group project worth 40% of the final grade o Final Exam – worth 40% of the final grade o Bonus Participation Grade – maximum worth 10% of the final grade

Professor: Rimac

Learning Outcomes: The course has two primary objectives. First, to provide you with a systematic and critical understanding of organizational theory and research and the factors involved in the functioning and analysis of complex organizations. Second, to show how these ideas can serve as practical tools for the analysis and management of organizational situations especially those related with digital economy. The topics covered in the course have been chosen to allow you to analyze the organizational context in which you find yourself, both to aid understanding and to provide an improved basis for action.

Textbooks: Reference books: o Morgan, G. 2006. Images of Organization. Sage Publications. O Shafritz, J. M. & Ott, J. S. & Jang, Y. S. 2010. Classics of Organizational Theory. Cengage Learning; 7th edition. Required materials (access will be provided via Moodle platform): o Power point slides o Articles from business journals o Articles from academic journals o Videos o Teaching cases o Web based simulations Supplementary materials: For those of you who are interested to learn more about the theories and topics covered in the course, I highly recommend following books: o Scott, W.R. & Davis, G.F., 2006. Organizations & Organizing: Rational, Natural and Open Systems. O DiMaggio & Powell, 1991. The New Institutionalism in Organization Analysis. O Scott, W.R., 2008. Institutions and Organizations, 3rd edition. O Weick, 1995. Sensemaking in Organizations.

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O Pfeffer & Salancik, 1978. The External Control of Organizations. O Burt, 1992. Structural Holes. O Kilduff & Tsai, 2003. Social Networks and Organizations. O Cyert & March, 1963. A Behavioral Theory of the Firm. O March & Simon, 1958. Organizations. O Thompson, 1967. Organizations in Action. O Aldrich & Reuf, 2006. Organizations Evolving, 2nd edition. O Smelser & Swedberg, 1994. Handbook of Economic Sociology. O Blau, 1964. Exchange and Power in Social Life. O Coleman, 1990. Foundations of Social Capital. O Pfeffer, 1997. New Directions for Organization Theory. O Perrow, 1986. Complex Organizations. O Smith & Hitt, 2005. Great Minds in Management. O Baum, 2002. Companion to Organizations. O Greenwood, et al., 2008. The SAGE Handbook of Organizational Institutionalism. O McFarland & Gomez, 2014. Organizational Analysis. O Scarborough & Somers, 2006. Neural Networks in Organizational Research: Applying Pattern Recognition to the Analysis of Organizational Behavior. O Dyer, Gregersen, & Christensen, 2011. The Innovator’s DNA: Mastering the Five Skills of Disruptive Innovators. O Farquharson, Torres de Mästle, Yescombe, & Encinas, 2011. How to Engage with the Private Sector in Public-Private Partnerships in Emerging Markets. O Govindarajan & Trimble, 2012. Reverse Innovation: Create Far From Home, Win Everywhere. 36 ORGANIZING INNOVATION (in English) Fall semester; 60 lectures; 4 hrs per week; 6 credits • New product development • Creativity and innovation • Design thinking and prototyping • User driven innovation • Open innovation • Organizing innovation processes • Marketing innovation

Other Activities: Assignments (involving both group work and individual assignments), in-class exercises, and guest lectures.

Assessment: Written exam and group work

Professor: Tee

Learning Outcomes: The key learning objectives are: • master different theoretical frameworks to think about how to organize innovation • gain knowledge how to translate theoretical frameworks into practical application • understanding the role of creativity in new product and new service development • acquire tools to organize innovation in different settings • identifying core problems that may impede innovative performance • knowing how to manage groups that are innovating and how to develop and use firm’s capabilities to exploit innovative activities

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Textbooks: Textobook Organizing Innovation. 37a/b E1-PMFR19-GM: PERFORMANCE MEASUREMENT AND FINANCIAL REPORTING (in English) Fall semester; 60 lectures; 7 hrs per week; 8 credits The program of the course is in two main parts. The first part focuses on financial statement analysis. The second part deals with non-accounting measures of performance (e.g. economic profit and residual income). More in particular, the financial statement analysis part is designed to provide students with the conceptual background and analytical tools necessary to evaluate financial statements. It focuses on understanding the uses and the limitation of both the financial statements and the traditional and non-traditional methods used in analysing them. We will discuss the financial statements, the differential effects of alternative accounting principles and their effects on reported performance, and the interpretation of financial information. The part which refers to non-accounting measures of performance (e.g. economic profit and residual income) deals with the some concept towards the calculation of the firm value starting from accounting data.

Prerequisites: Financial accounting

Assessment: Attending students are evaluated on the basis of 33 points: 23 points assigned to written examination lasting 1 ½ hours; 10 points assigned to group assignment. Non attending students are 100% evaluated on a written examination (lasting 2 ½ hours)

Professor: Bozzolan, Raoli

Lerning Outcomes: The objective of the course is to provide students with the framework to conduct financial statement analysis and conduct performance evaluation. In particular, regarding financial statement analysis, the course is designed to provide students with the conceptual background and analytical tools necessary to evaluate financial statements. We will discuss the financial statements, the differential effects of alternative accounting principles and their effects on reported performance, and the interpretation of financial information. Then we present the main limitation of traditional financial performance looking at non-accounting based performance measures like the economic profit and the residual income.

Textbooks: Bozzolan: S. Penman (2013), Financial Statement Analysis and Security Valuation, McGrawHill, 5th Edition In addition to the textbook, the following course materials will be provided - slides - cases - exercises You can refer to each specific session on the course web site. The content and availability of these additional materials will be announced during classes. Raoli:

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- Slides - Selected academic accounting papers - Case studies 38 PROJECT-BASED ORGANIZATION: DESIGN AND HUMAN RESOURCE MANAGEMENT (in English) Spring semester; 48 lectures; 7 hrs per week; 6 credits The course draws on selected aspects of organizational design, leadership, team management, change management and human resource management as well as industry‐centered illustrative cases, guest speakers, and practical activities to support its learning objectives: - Develop an in‐depth understanding of the particular characteristics, capabilities and demands of the project form of organization - Equip students to assess and address the organizational design and human resource management requirements of particular project enterprises - Equip students to use leadership, communication, analytic and intervention skills to support project organization.

Assessment: Face-to-face lectures, presentations.

Other activities: A mini‐assignment, a case presentation, and a written final examination

Professor: Cramton

Lerning Outcomes: This course introduces students to the project form of organization, which is used extensively in the creative, design, fashion, craft and luxury industries, among many others. The primary purpose of the course is to prepare students to exercise organizational leadership roles supported by their understanding of the design and human resource management requirements of project organizations.

Textbook: The course will utilize cases from Harvard Business School, IESE Business School, the Asia Case Research Centre, and Ivey Publishing, all available through the Harvard Business School portal. In

addition, selected articles are assigned. 39 PROJECT FINANCE Fall semester; 48 lectures; 7 hrs per week; 6 credits; elective The course aims to introduce project finance as an instrument for the financing and construction of works, both public and private. Regarding the first aspect, the course will provide a general overview of the subject of public-private partnership and the general legal framework in force. The course aims to examine more closely issues like the project finance tools, the role of the parties, risk mitigation and decision making related to the structuring of a project financing transaction in PF. The course will also analyse the various aspects of project finance (legal, financial, risk management, institutional and organizational), paying particular attention to how these affect the evaluation of the bankability of a project finance operation. There will testimonials from leading National International professionals and operators. The second part of the course is devoted to conducting individual and group exercises, using Windows Excel and Financial Models of Project Finance.

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Prerequisites: Corporate Finance

Professor: Cuccia

Learning Outcomes: Provide students with a general overview of project finance and public-private partnerships, both at the national and international level. Describe the main features and analyse the requirements that a project must meet so that a project finance initiative can be structured. Provide the tools to develop financial models in this field.

Textbook: Project Financing – La Finanza di Progetto per la realizzazione di Opere Pubbliche, II Edition. Autore Sergio Massimiliano Sambri, pubblicato da CEDAM. Other materials. 40 RISK MANAGEMENT (in English) Spring semester; 60 lectures; 7 hrs per week; 8 credits BASIC ERM INFRASTRUCTURE Introductory Definitions Traditional ERM approaches ERM PROCESS CYCLE Risk Identification Risk Quantification Risk Decision Making Risk Messaging RISK GOVERNANCE AND OTHER TOPICS Governance of ERM Financial Crisis Case Study ERM for non-corporate entities FOCUS ON SINGLE RISKS Financial Risks Operational Risks

Assessment: written test (open questions and excel exercises)

Other activities: - Traditional lecture - Case studies - Presentations and assignments - Computer lab sessions

Professor: Vecchione

Lerning Outcomes: The course has the objective to introduce the students to the Enterprise Risk Management (ERM) discipline. They will learn a full range of risk management concepts and methodologies and how they are practically applied. Moreover, to reach the course's objective, case studies and computer sessions will strengthen the students' theoretical knowledge and their ability to implement technics and models.

Textbook: Segal S., Corporate Value of Enterprise Risk Management: The Next Step in Business Management, John Wiley & Sons Inc, 2011

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41 REMUNERATION SYSTEM AND HUMAN RESOURCES MANAGEMENT Spring semester; 48 lectures; 7 hrs per week; 6 credits; elective Motivational theories: the Total Award approach and the non-monetary benefits. Evaluate, differenciate and value people: the tools. Remuneration: an overview of the remuneration policies. The components of the compensation package. Remuneration structure and dynamics. “Fixed remuneration” management. Variable remuneration: criteria of classification and instruments. Incentives by objectives and Management by Objectives. Executive pay and mid-term/long term incentivation schemes: variables and types. Economic and financial shareholding.


Other activities: Teamworks, discussions, presentations, guest speakers

Professor: Gabrielli

Lerning Outcomes: Provide a complete overview of the major issues influencing people management in complex organisations. The main objective of the course is the understanding of the strategies, policies and management tools of human resource management adopted by organisations to support their development. The course, based on rigorous theoretical and methodological approaches, allows students to look at various practices (e.g. recruitment and selection, compensation, training and development, etc.), tools and behaviour that is widespread in human resource management by examining more closely some of the most significant initiatives and experience gained in the field.

Textbook: Gabrielli G. (2010), People management. Teorie e pratiche per una gestione sostenibile delle persone, FrancoAngeli, Milano. 42 STRUCTURED FINANCE (in English) Fall semester; 48 lectures; 7 hrs per week; 6 credits; elective Introduction to Structured Finance and Capital Markets participants; fund raising and investments through Capital Markets; Debt Capital Markets issuance (bonds and other instruments), Equity Capital Markets transactions (IPO, Follows on); Derivatives Markets; the role of Capital Markets in M&A activity and processes.

Assessment: class participation and case study discussion (30%) and a written final exam (70%)

Other activities: case studies and team work activities

Professor: Bruno

Learning Outcomes: The goals of this course are to introduce students to Structured Finance and capital markets products offered and to ways banks and corporates operate in the Financial sector by means of analysis of specific case study

Textbook: Investment Banking – Giuliano Iannotta ed. Springer

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Financial Markets and Institutions – Frederic Mishkin/Stanley Eakings ed.Pearson 43 TAX PROCEDURAL LAW Fall semester; 48 lectures; 7 hrs per week; 6 credits; elective The first part of the course will focus on topics concerning the tax authorities’ auditing powers, especially investigations, inspections, controls and banking enquiries culminating in the issuing of a formal notice of assessment. Then the main focus will specifically be on the tax assessment itself (nature, requirements and contents; types of assessment; documentary evidence and presumptions) as well as on forcible tax collection.

The second part of the course will deal with special tax courts and their jurisdiction, examining also the acts that can be appealed. Special attention will be devoted to appeals to the provincial tax courts by examining content and mandatory requirements for appeals, the lodgement of the appeal itself, the appearance before the court by the appellant and the respondent and the entire process up to the issuance of the ruling. Also analysed will be further appeals to the regional tax court and final appeals to the Italian Supreme Court. That will be followed by an examination of the additional proceedings required to enforce a tax judgement. The final part of the course will focus on the measures to avoid tax litigation (internal review procedures, agreed assessments and conciliation).


Professor: Marchetti/Napoli

Lerning Outcomes: The course aims to explain the regulations concerning tax litigation, starting from an examination of the investigation powers of the tax authorities and assessments made by the Inland Revenue, having regard also to service of notices of assessment and the measures to avoid tax litigation. Special attention will be devoted to tax collection, taking into consideration the forms of taxpayer protection against forced collection. With a view to ensuring suitable training when conducting litigation in the future, topics will be dealt with by continuously referring to practical cases (including examples of the main pleadings filed in tax trials) and to the evolution of caselaw.

Textbook: Giuseppe Napoli – Silvia Rocchi “Verifica Accertamento Riscossione e Azioni a tutela del contribuente”, Cacucci editore, 2013. Tax Law compendium, updated version. 44a TECHNOLOGY AND INNOVATION MANAGEMENT Fall semester; 48 lectures; 7 hrs per week; 6 credits The course addresses the key issues relating to governance of technological innovation by adopting an approach that emphasises the primary role of the knowledge resources (both individual and organizational) and relational contexts (both interpersonal and interorganisational) in which innovation develops.

The issues addressed in the course will be: - The economic and social importance of innovation

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- The sources of innovation - Dynamics of technological innovation - Forms and models of innovation - Dominant design and technology standards - The timing of market entry - Strategies of technological innovation - Open Innovation, Markets for Technology, Licensing - Capturing the value of innovation: intellectual property - The selection of innovation projects - Collaborative strategies for innovation - The organisation of innovation processes - Managing the development process of new products - Managing teams for the development of new products

Assessment: written exam, optional oral exam, two assignments

Professor: Brunetta

Learning Outcomes: The aim of the course is provide the theoretical knowledge needed to fully understand technological innovation in all its forms and the related managerial processes in and between enterprises in the current economic context. Moreover, the course seeks to examine in more depth the strategic tools needed to manage innovation in different competitive environments, especially when facing competitive and organisational problems that may influence firms' strategic choices.

Textbook: Gestione dell’innovazione 3/ed by Melissa A. Schilling (edizione italiana a cura di Francesco Izzo) Other materials will be provide during the semester. 44b TECHNOLOGY AND INNOVATION MANAGEMENT Fall semester; 48 lectures; 7 hrs per week; 6 credits Introduction – Importance of Technological Innovation and Enterprise, The Sources of Innovation. Dynamics of and Timing Market Entry.

Strategies of Technological Innovation – Open Innovation, Markets for Technology, Licensing and Collaboration Strategies, Appropriability of Innovation and Intellectual Property.

Implementing a Strategy of Technological Innovation – Organization of Innovation Processes, Process Management of New Product Development (SNP).

Assessment: written exam, optional oral exam, two assignments

Professor: Leone

Learning Outcomes: Provide students with the ability to: 1. interpret and understand the functioning of a business organisation and the ways it interacts with the external environment; 2. use tools for analysing and devising business strategy in competitive contexts and various markets; 3. evaluate the competitive position of a business and use the tools for improving it; 4. devise the strategic choices linked to the principal business functions.

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Textbook: Gestione dell’innovazione 3/ed by Melissa A. Schilling (edizione italiana a cura di Francesco Izzo) Other materials will be provide during the semester. 45 TERRITORIAL MANAGEMENT Fall semester; 48 lectures; 7 hrs per week; 6 credits; elective The course aims to provide participants with:

the ability to read and interpret the competitive dynamics of a territory with particular reference to their ability to attract factors to assist its sustainable development;

ability to apply a marketing approach and associated tools to manage the economic and competitive development of a territory;

ability to devise a marketing strategy to strengthen the capacity of a territory to improve its capacity to create value for what it has to offer;

ability to devise the measures to be adopted in relation to a territory so as to develop a competitive offer and improve the perception that outsiders have of it.

Assessment: project work, written and oral exam

Professor: Caroli

Learning Outcomes: - The ability to read and interpret the competitive dynamics of a territory with particular reference to their ability to attract factors to assist its sustainable development.

- Ability to apply a marketing approach and associated tools to manage the economic and competitive development of a territory.

- Ability to devise a marketing strategy to strengthen the capacity of a territory to improve its capacity to create value for what it has to offer.

- Ability to devise the measures to be adopted in relation to a territory so as to develop a competitive offer and improve the perception that outsiders have of it.

Textbook: Caroli M. Marketing territoriale. Franco Angeli, 2006. 46 TRADE AND RETAIL MARKETING (in English) Fall semester; 48 lectures; 7 hrs per week; 6 credits Retailing has changed significantly over the past few years and is more and more inspired by luxury retailing, in order to reach the best performance in terms of effectiveness. Indeed, a variety of trends have converged to create a situation in which retail strategies are arguably the dominant influence on brand development. Nowadays, most of the companies must be able to professionally manage a mono-brand retail channel if they want to improve sales and more effectively communicate the brand image. The store is the place where customers can buy branded products but also live the brand experience. In particular, luxury retail is a specialization which differs in many ways from general retail management and concerns concepts which continuously evolve along with customers’ buying behavior. Retail managers have to implement long-term strategies and at the same time deal with competition issues on a day-to-day basis. Retail marketing activities are based on strategic plans and detailed operations and

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many decisions are taken with regard to merchandising, business analysis, sales processes, sales force management, in-store communication and a host of other challenging aspects. Distribution is crucial in every sector and trade and retail marketing competencies are necessary to be successful in store management. In the last decade, it has become increasingly harder to reach and influence consumers because they make most of their product purchase decisions in-store. As a result, retail marketing has emerged as a key element for marketing mix implementation and brand positioning control. For retail managers the customer experience is becoming a very important asset to develop. In line with these developments, the program will enable students to learn how retail elements support marketing and branding strategies. The course focuses on a broad theoretical framework as well as the tools which are fundamental to retail management. Participants will understand the retail marketing landscape and also learn about key retail marketing issues and instruments. Particular emphasis will be placed on effective retail operations management with a strategic approach.

Assessment: For students that attend the course Individual final written exam = 70% Team project work (the individual grade is the same as the team final grade) = 30% Participation/Involvement*: It may be used as a plus in the final whole evaluation of the student For students that do not attend the course Individual final written exam = 100%

Participation refers to the overall “positive” contribution to the learning of the class. It includes evidence of thoughtful preparation prior to class and active interaction with both colleagues and instructor to improve the whole class’s learning.

Prerequisites: Basic knowledge of marketing management

Professor: Amatulli

Textbook: Berman, B. and Evans, J.R. (2013), Retail Management: A Strategic Approach, Pearson

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▌DESCRIPTION OF COURSES (Alphabetical Order) Master Courses Economics and Finance (in English) 1 ADVANCED CORPORATE FINANCE Spring semester; 72 lectures; 7 hrs per week; 8 credits The course is intended to provide students with a sound understanding and appreciation of the main advanced topics of corporate finance. The course illustrates both the most sophisticated theory and related applications of investment/financial decision-making by corporations, and shows how financial theory can be used to address practical problems and illuminate institutional aspects of the financial world. The course will emphasize the valuation of firms and their investments within both a risk-adjusted and a risk-neutral framework, and will help attendants understand how capital markets operate. Specific topics that will be covered include: advanced capital budgeting techniques (e.g., real options), portfolio theory and the CAPM as a tool to measure the cost of capital of various types of businesses, mergers & acquisitions (M&A), initial public offerings, debt policy and optimal capital structure design in the presence of corporate taxation with its effects on acquisition techniques (e.g., leveraged buyouts), dividend policy, and the valuation of complex financial securities or clauses recurrently used in the M&A context (e.g., corporate bonds, options). In addition to the emphasis on financial content and analysis, students will be encouraged to (a) apply computer/software tools (e.g., solve problems or case studies using Excel) and (b) think in a holistic/interdisciplinary fashion. In the process students should develop methodological skills enabling them to address a variety of complex real world financial problems that may be relevant to their future professional life. As attendants may gradually discover, the world of finance can be quite exciting and rewarding.

Prerequisites: Corporate Finance

Assessment: --

Professor: Baldi

Learning Outcomes: Knowledge and capacity to understand: Expected to be high and problem-oriented with a strong theoretical background. Independent thinking: Expected to be high. Communication: Expected to be high.

Textbooks: Main text: to be announced Supplemental text: F. Baldi (edited by). The economics of leveraged buyouts. Giappichelli, 2015 (forthcoming)

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2 ADVANCED MACROECONOMICS Spring semester; 72 lectures; 7 hrs per week; 8 credits The course covers 8 broad topics: 1. Economic Growth: Facts and Puzzles. 2. Economic Growth: Endogenous Growth. 3. Structural Transformation. 4. Business Cycles. 5. Classical Monetary Models. 6. New Keynesian Models. 7. Fiscal and Monetary Policy. 8. Labour Markets

Other Activities: lectures, problem sets

Assessment: final written exam

Professor: Nisticò/Riboni

Learning Outcomes: The course presents the main macroeconomic theories and findings in the areas of economic growth, business cycles, and monetary economics.

Textbooks: 1. Articles from a reading list provided by the instructor 2. Galì, Jordi, Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press, (Princeton, NJ), 2008 3. Blanchard, Olivier J. and Fischer, Stanley, Lectures on Macroeconomics, MIT Press, Cambridge MA, 1989. 4. Romer, David, Advanced Macroeconomics, second edition, McGraw Hill, New York, 2001. 5. Aghion Philippe and Peter Howitt (2008) The Economics of Growth. MIT Press. 3 ASSET MANAGEMENT Fall semester; 60 lectures; 7 hrs per week; 8 credits • International and local regulatory framework • Capital markets theory and asset pricing • Security analysis & valuation • Asset management products and fund administration • Risk management practices • Additional topics reflecting the interests of the audience

Other Activities: lectures, team works, case studies, seminars


Professor: Micillo

Learning Outcomes: To offer an accessible introduction to capital market theory and regulation; security analysis, and international investments with portfolio management applications.

Textbooks: • Brown & Reilly – Investment Analysis and Portfolio Management – International edition, (2008 -9th edition) (required)

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• Litterman et al. – Modern Investment Management: An Equilibrium Approach (2003) (recommended) • Risk Budgeting, Second Edition: Risk Appetite and Governance in the Wake of Financial Crisis, edited By Leslie Rahl (2012). 4 ECONOMETRIC THEORY Annual; 144 lectures; 7 hrs per week; 8 credits Some of the topics covered are: Statistic foundations, Single equation linear model and OLS Estimation. Asymptotic properties of OLS estimators. Testing (Likelihood-type, Wald, Lagrange). Measurement Error. Omitted variables. Instrumental variables estimation of single equation linear model. Panel Data. Generalized Method of Moments. Time Series modeling. Vector Autoregression.

Other Activities: lectures and practical sessions

Assessment: Midterm and final exam

Professor: Ragusa

Learning Outcomes: The purpose of the course is to provide the necessary tools for a thorough understanding of asymptotic theory in classical econometrics. The course goals are 1) to be able to perform estimation and testing in linear cross-section regression models, to be sufficiently comfortable with asymptotic theory for linear models, 2) to be able to implement basic cross-section methods as needed for a advanced thesis.

Textbooks: Hansen, Bruce. Econometrics. (Freely downloadable from author website). Wooldridge, Jeffrey. Econometric Analysis of Cross Section and Panel Data. The MIT press. Other readings will be assigned as needed. 5 EQUITY MARKETS AND ALTERNATIVE INVESTMENTS Fall semester; 60 lectures; 3 hrs per week; 8 credits; elective

• Equity markets: public side vs. private side; the role of investment banks. • IPO: general overview and process. • IPO: case study. • Straight equity follow-on: rights issue, accelerated book fully marketed offerings. • Equity-linked: overview and rationale. • Universe of equity markets investors: long-only, hedge funds, sovereign/wealth funds, retail. • The role of equity research: evolution, past issues, regulation. • Private equity and financial sponsors: investment cycle, domestic vs. international. • Hedge fund testimonial. • Private equity testimonial

• Market efficiency and technical analysis. • Value and growth investment. • Insider trading. • Hedge funds’ organization and structure. • Hedge funds’ strategies: long/short, market neutral, fixed-income, global macro. • Performance analysis of funds management.

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• Database, indices and benchmarks. • Diversification and asset allocation.


Assessment: Case studies: 40%, final written exam: 60%

Professor: Morelli/Vitale

Learning Outcomes: Introdurre gli studenti in modo rigoroso ed intuitivo ai mercati azionari e alle tecniche di investimento alternative.

Textbooks: Lhabitant (2007): Handbook of Hedge Funds John Wiley & Sons. 6 EXPERIMENTAL AND BEHAVIOURAL ECONOMICS Fall semester; 60 lectures; 3 hrs per week; 8 credits; elective This course introduces students to the methods of Experimental Economics and includes applications to Behavioral Economics. Students will be introduced to discussions about both the power and the limitations of Experimental Economics as a data collection method, and to discoveries that have spurred a deeper interest in individual and group behavior. Students will practice the methods taught by reviewing published papers and designing their own experiment.

Assessment: Active class participation (15%), Student Presentations (35%), Short Research Paper based on an experimental design for a specific research question (50%)

Professor: Di Cagno/Gueth

Learning Outcomes: At the end of the course the students should be able to answer the following questions: 1) What are the most important benefits and limitations of the experimental methodology? 2) What are some of the most important discoveries made using economics experiments? 3) What are the elements of a good experimental design? 4) How should a good design be influenced by theory and econometric methods?

Textbooks: Bardsley, N., Cubitt, R., Loomes, G., Moffat, P., Starmer C. and Sugden, R. (2009), Experimental Economics: Rethinking the Rules, Princeton University Press. Holt c. A. (2007), Markets, games and strategic behavior, Pearson Addison Wesley Holt, Charles A. (2007), Markets, Games and Strategic Behavior, Pearson Bardsley, N., Cubitt, R., Loomes, G., Moffat, P., Starmer C. and Sugden, R. (2009), Experimental Economics: Rethinking the Rules, Princeton University Press. Additional readings Friedman, D. and Sunder S., (1994), Experimental Methods: A Primer for Economists, Cambridge University Press. 7 FINANCIAL AND CREDIT DERIVATIVES Fall semester; 60 lectures; 3 hrs per week; 8 credits; elective 1)Introduction and review 2)The Black-Scholes-Merton model 3)A look at different types of options

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4)Greek letters and volatility smiles 5)Value at Risk 6)Credit risk and credit derivatives

Other Activities: lectures and seminars

Assessment: Problem sets (and/or mid-term exam) and final written examination.

Professor: Nucera

Learning Outcomes: This course aims at providing participants with a general understanding of the different functions performed by financial markets and intermediaries within the financial system.

Textbooks: Options, Futures, and Other Derivatives, 8/E (global edition), Pearson 8 FIXED INCOME, CREDIT AND COMMODITIES Spring semester; 60 lectures; 3 hrs per week; 8 credits; elective The course is divided into four parts. The first part of the course covers the study of the shape of the Yield Curve and Bond Risk Premia in treasury market as well as the most important fixed income instruments such as zero coupon bonds, strips, repos, swaps and bond and money market future. The second part covers the determinants of Credit Risk Premia in sovereign and non sovereign markets, introduces the main types of corporate bonds and credit default swaps and analyze factors affecting their prices. The third part is on Commodities Futures and Dynamic Strategies in fixed income and commodity markets, such as carry, relative value and momentum. The fourth and final part of the course covers exogenous risk factors affecting the expected returns of fixed income securities markets (Monetary policy, inflation and the business cycle, Liquidity factor and Tail risk).

Other Activities: lectures, seminars, team works

Assessment: - 1 hour Midterm exam (this will be taken during class and will: based on 3/ 4 questions. Covers application of basic formulas and discussion of main financial instruments introduced in class during part I, II and III of the course. = 20% - Written exam test at the end of the course = 40% (*)The written encourse exam will consist of six questions, which are broader in scope than in the midterm and can be in principle answered in plain english. - I strongly advise student to complete the exam before summer vacations (they may however register the grade after that). - Mandatory team project run during the course and to be delivered by December 10, 2014. 40% (**) The instructor reserves the rigth to waive thegroup exercise or to postpone the content of the midterm exam to the final exam for those students who have a valid reson to ask for it (e.g, working students, Double Degree Program students; Eramus students, etc.). The instructor I strongly advises students to complete the exam before the break summer vacations (they may however register the grade after that).

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Students willing to change their grade may take an additional oral exam worth (-3/30 to + 3/30 of their initial vote).

Professor: Cybo-Ottone

Learning Outcomes: This course covers valuation, pricing and forecasting of fixed income and commodity linked instruments. We will look at these markets from a "top-down" perspective, by computing the expected returns of fixed income asset classes and strategies, as well as their relation with the macroeconomy. We will look at the same markets from a "bottom-up" perspective, by describing and pricing the most important fixed income and commodity instruments. Learning how Fixed Income, Credit and Commodities markets and instruments work is critical for anybody pursuing a career in finance and banking, as interest rates are used to discount any kind of cash flow and are among the main macro variables. In particular, this course is relevant for students seaching a job in Wholesale Banks (trading/research/capital markets), Sovereign and Private Sector Issuers (corporate finance, treasury), Central Banks, Financial Regulators and Rating Agencies, International Financial Institutions (IMF, World Bank, BIS), Asset Managers and Institutional investors (portfolio management, ALM, risk management). The instructor has business and academic experience in some of these areas. A few external guests will be invited to share their experience on other segments of these markets.

Textbooks: For each class, I will post on the course webiste the class slides. I will also assign chapt a major paper to read, which must be complemented with class notes. Section IV and V, as well as guest lectures, will be more open-ended. I will complement the assigned papers with my handouts and case studies. • A. Illmanen (2011) “Expected Returns: An Investor's Guide to Harvesting Market Rewards (ER) by Antti Ilmanen, John Wiley and Sons, 2011. (good to have but I do not mandate purchase). • B. Tuckman and A.Serrat (2011) “Fixed Income Securities. Tools for Today’s Markets”, Third Edition, 2011, Wiley Finance (FIS) • Instructor handouts and case studies • Databases with major price data to be provided by the instructor All the relevant materials are available on the Course website. 9 INTERNATIONAL FINANCE Fall semester; 60 lectures; 3 hrs per week; 8 credits Currency Markets: The Spot Market (S): Chapter 3 ·Bank for International Settlements (2007), Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity. ·Galati, G. and M. Melvin (2004), “Why has FX trading surged? Explaining the 2004 triennial survey” BIS Quarterly Review, December 2004. ·Federal Reserve Bank of New York (2010), Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity.

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The Forward Market Law of one Price, Covered Interest Rate Parity (S): Chapter 4 Arbitrage, Hedging and Speculation (S): Chapter 5 ·Galati, G., Heath, A., McGuire, P. (2007), “Evidence of Carry Trade,” BIS Quarterly Review, September 2007. Currency Futures Futures versus Forward contracts. Hedging (S): Chapter 6 Currency Swaps (S): Chapter 7 Currency Options Arbitrage, Hedging and Speculation (S): Chapter 8. Hedging and Valuation (S): Chapter 9. Exchange Rate Risk (S): Chapter 10. (S): Chapter 11. Long-Term International Funding (S): Chapter 19. (S): Chapter 21. Country Risk

Other Activities: lectures


Professor: Benigno

Learning Outcomes: The aim of this course is to provide an integrated view of international financial markets and the management of multinational firms. The focus will be on the markets for spot exchange, currency forwards, options, swaps, international bonds, and international equities. For each of these markets, students will study the valuation of instruments traded in these markets and, through cases, the application of these instruments to the following corporate decisions: (i) managing exposure to exchange rates and country risk, (ii) financing in international capital markets, and (iii) international capital budgeting in the presence of multiple currencies, international tax regulations, and sovereign risk..

Textbooks: Sercu, Piet (2008) International Finance: Theory into Practice, Princeton University Press. (S) There is a course’s web page available at http://docenti.luiss.it/benigno/ which contains updated information on the syllabus and course’s materials. 10 MACROECONOMIC ANALYSIS Fall semester; 72lectures; 7 hrs per week; 8 credits Capital accumulation and growth. Consumption and saving in competitive economies. Welfare theorems, optimal fiscal policies, money and bubbles

http://docenti/

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Other Activities: Lessons, Assignments, discussions in class

Assessment: Assignments (10%): There will be 9 assignments for the semester, issued 4 days before they are due. Assignments consist of a number of analytical problems. Assignments are not graded but they are checked by the TA. Having completed at least 7 assignments guarantees a 10% of the final grade. Midterm Exam (30%): This will be held in class half way through the course. Final Exam (50%): The final exam will be held in the examination period.

Professor: Reichlin

Learning Outcomes: Understanding the basic tools in modern macroeconomics. Saving and consumption choices in dynamic environments, business cycle, policies and financial decisions.

Textbooks: M. Wickens, Macroeconomic Theory, Princeton University Press, 2008; D. Romer, Advanced Macroeconomics, McGraw Hill, 2006; Lecture Notes 11 MATHEMATICAL METHODS FOR ECONOMICS AND FINANCE Fall semester; 72lectures; 7 hrs per week; 8 credits Part 1: Linear Algebra. Part 2: Unconstrained Static Optimizazion Part 3: Constrained Static Optimizazion Part 4: Dynamic Optimization

Other Activities: lessons and exercise lessons


Professor: Gozzi

Learning Outcomes: To learn the basic methods of Linear Algebra, Linear Dynamical Systems, Static and Dynamic Optimization. These are essential tools to understand and develop mathematical models in Economics and Finance.

Textbooks: MATEMATICS FOR ECONOMISTS, Carl Simon e Lawrence Blume, W.W. NORTON & COMPANY. Notes given by the teacher. 12 M&A AND INVESTMENT BANKING Spring semester; 48 lectures; 7 hrs per week; 8 credits; elective The course is divided into 4 parts: Part 1: Investment industry overview (including financial statement analysis) Part 2: The Sell Side: including advisory, banking, sales & trading, and client management. Part 3: The Buy Side: including fund management, principle investing. Part 4: International aspects of M&A and Investment Banking. 2. Learning Objectives. At the end of the course, students should be able to: A. Describe the role of the major industry players and the forces that drive success, competition,

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and change in the Investment Banking field. B. Develop precise, useful mathematical and editorial analyses for a range of business proposals. C. Demonstrate the business acumen, inquisitiveness, and research skills necessary to operate effectively as an analyst/associate in a full service investment banking firm. D. Exhibit social skills required in client driven firm in a highly competitive industry.

Other Activities: lectures, case studies

Assessment: 85% Final exam 15% Class participation, homework, presentations, and quizzes

Professor: Langer

Learning Outcomes: In this course students learn how investment banks and investment bankers operate. M&A is emphasized in particular. Public offerings, venture capital, sales and trading, merchant banking, debt financing, institutional research, among numerous other aspects of the investment banking field, are also studied, analyzed, and discussed. Emphasis is on developing analytical tools and social skills necessary to succeed in the world of international high finance. The role of a successful analyst and associate operating in such settings, and working on such transactions will be emphasized in particular. Additionally students will 1) develop and utilize analytical and presentation tools in use at investment banks such as the working group list, comparable spreadsheets, financial models, and other analyses and memoranda; 2) simulate investment banking committee meetings and project deal teams; and 3) practice client development; 4) model transactions.

Textbooks: M&A: Miller, Mergers and Acquisitions, Legal and Practical Guide, Wiley, 2008 Excerpts: EY: Ernst & Young, Mergers and Acquisitions, Wiley, 1994 FS: Fraser, Ormiston, Understanding Financial Statements, 7th Edition, Prentice Hall, 2004 FI: Alexander, Sharpe, Bailey, Fundamentals of Investments, 3rd Edition, Prentice Hall, 2001 RB: Reilly, Brown, Investment Analysis and Portfolio Management, Thomson, 2006 CC: Greiner, Poulfelt, The Contemporary Consultant, Thomson, 2005 SM: Lasserre, Global Strategic Management, Macmillan, 2002 13 MICROECONOMIC ANALYSIS Fall semester; 72 lectures; 7 hrs per week; 8 credits • Introduction to game theory. • Normal and extensive form game representation: game-forms, strategies and outcomes. • Equilibria for the normal form: Nash Equilibrium. • Equilibria for the extensive form: Subgame perfect Nash Equilibrium. • Games of incomplete information in normal form: Bayesian Nash Equilibrium. • Games of incomplete information in the extensive form: Weakly Perfect Bayesian Equilibrium. • Signaling games and applications • Mechanism design and auctions • Implementation theory • Social choice and voting

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Other Activities: lectures, take-home exercises

Assessment: Final exam: test 90% Class Participation and take-home exercises: 10%

Professor: Ponti

Learning Outcomes: This course is organized in two parts. In the first part, we provide a thorough introduction of game theory and applications. The concept of a “game” will be represented it in both strategic (i.e., static) and extensive (i.e., dynamic) form. Then, solution concepts under both the complete information assumption and the incomplete information one will be presented. In particular, Nash Equilibrium (in pure and mixed strategies), Subgame Perfect Nash Equilibrium, Bayesian Nash Equilibrium and Weakly Perfect Bayesian Equilibrium will be explained. Many examples taken from different economic fields (industrial organization, auction theory, voting, and law and economics) will be exposed. This second part of the course covers covers elements of contract theory and mechanism design, with specific reference to the theory of auctions, together with experimental evidence and a wide variety of economic applications.

Textbooks: • Martin Osborne (2003). An Introduction to Game Theory, Oxford University Press. • Vijay Krishna (2009). Auction Theory, Academic Press. • Jean Tirole (1988). The Theory of Industrial Organization. The MIT Press. 14 REAL ESTATE FINANCE Spring semester; 60 lectures; 7 hrs per week; 6 credits; elective The program is aimed at studying in depth every single subject and activity pertaining to the real estate industry: accordingly, a multidisciplinary approach was chosen, which enables the training of resources that can meet the needs of a market oriented to international standards. The Master was designed for those who wish to invest on their own development, enhancing their own personal effectiveness, but also those who aim at seizing an opportunity for promoting and valorising their human resources, by enhancing their skill-level, training and specialisation level benefiting from a highly qualified and international level training opportunity.

Prerequisites: Corporate finance


Professor: Casertano

Learning Outcomes: The course was designed to give people involved in a full time professional, managerial and entrepreneurial activity the possibility of a professional growth and personal success in real estate finance, management of territory development projects, development and management of real estate assets. The program is aimed at studying in depth every single subject and activity pertaining to the real estate industry: accordingly, a multidisciplinary approach was chosen, which enables the training of resources that can meet the needs of a market oriented to international standards. The Master was designed for those who wish to invest on

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their own development, enhancing their own personal effectiveness, but also those who aim at seizing an opportunity for promoting and valorising their human resources, by enhancing their skill-level, training and specialisation level benefiting from a highly qualified and international level training opportunity.

Textbooks: Didactic materials, papers. 15 PROBABILITY Fall semester; 60 lectures; 7 hrs per week; 6 credits Axioms of Probability, Conditional Probability and Independence, Construction of a Probability Measure, Random Variables, Integration with Respect to a Probability Measure, Independent Random Variables, Probability Distributions, Characteristic Functions, Sums of Independent Random Variables, Gaussian Random Variables Convergence of Random Variables, Weak Convergence, The Laws of Large Numbers The Central Limit Theorem, Conditional Expectation, Martingales, Martingale, Inequalities, Martingale Convergence Theorems.

Prerequisites: Calculus, multivariate calculus, linear algebra.

Assessment: Homework, quizzes, midterm, final written exam

Professor: Scarsini

Learning Outcomes: To provide the student with the basic tools of probability theory.

Textbooks: Jacod, J., Protter, P. Probability Essentials Springer, 2004 Gut, A. An Intermediate Course in Probability, Springer, 2009 Williams, D. Probability with Martingales, Cambridge University Press, 1991 Rosenthal, J. S., A First Look at Rigorous Probability Theory, World Scientific Publishing Co., 2007 16 RISK MANAGEMENT AND COMPLIANCE Spring semester; 60 lectures; 7 hrs per week; 6 credits; elective The course is designed to introduce and discuss various risk management concepts, tools and techniques. Using integrated approaches, the course will emphasize discussion on the design and implementation of risk management practices by focusing on the main classes of risks (i.e. market risks, credit risks, operational risks, liquidity risks, model risks, etc.). Students will be helped to realize, understand and master various state-of-the-art risk management theories and practices. Attention will be devoted also to the new developments in terms of financial regulation by explaining how the new regulatory framework will affect risk management in the next future.

Assessment: mid-term exam (written): 50% final exam (written): 50%.

Professor: Mazzoni

Learning Outcomes: a) To provide students with a comprehensive perspective on risk management and pricing concepts, tools and

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techniques. b) To develop analytical thinking in understanding and implementing risk management practices/policies. c) To engage students in active discovery of risk management principles. d) To identify and explain the full risk management process in terms of identification of risks and associated potential costs.

Textbooks: Hull, John C., Risk management and financial institutions, Wiley finance series, 2015- Fourth Edition (textbook). 17 THEORY OF FINANCE Spring semester; 60 lectures; 7 hrs per week; 6 credits 1) Introduction 2) Portfolio theory and pratice 3) Equilibrium in capital markets 4) Fixed income securities 5) Options, futures and other derivatives 6) Applied portfolio management

Assessment: Problem sets and written exam

Other activities Lectures and TA sessions

Professor: Borri

Learning Outcomes: This class will provide an advanced analysis of asset pricing theory, financial instruments and portfolio theory.

Textbooks: Cochrane, Asset Pricing, 2001 Bodie, Kane and Marcus "Investments", McGraw-Hill, latest edition. Siegel, "Stocks for the long run: the definitive guide to financial market returns and long term investment strategies", McGraw-Hill, latest edition. In addition, class slides and additional material will be distributed through the class website.

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▌SUMMARY TABLE OF COURSES

MASTER’S DEGREE COURSES Please note that master courses are very advanced and only guest students meeting the following requirements may enrol in such courses:

a bachelor degree or three years of study completed before departure;

a very good command of Italian language;

the necessary prerequisites;

no time-table clashes because attendance of each course is compulsory. Credits: from 4 to 8 depending on the course Total credits for each degree course: 120

Please remember when semesters start: First Year: Fall Semester: Sept- Dec Spring Semester: Mar- Jun Second Year: Fall Semester: Sept- Dec Spring Semester: Mar- Jun

Key oe: oral exam

we: written exam


Year/Sem Assessment Credits

ADVANCED CONTROL AND MANAGEMENT 1/F we 8

(Controllo di gestione avanzato)

ADVANCED ORGANIZATION DESIGN 1/S we 8

BIG DATA ANALYTICS 1/S -- 6

E2-BS3-M

BUSINESS STRATEGY 1/S we/oe 8

(Strategie d’Impresa)

E1-CL4-M

COMPANY LAW 1/F oe 6

(Diritto Societario)

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CORPORATE AND INVESTMENT BANKING (In English)

1/S oe 6

E2-CF(Adv)5-M

CORPORATE FINANCE (Advanced) 1/S we/oe 6

(Finanza aziendale - avanzato)

DIGITAL AND SOCIAL MEDIA MARKETING 2/F we 6

E1-EIEM(Adv)7-M


1/S we/oe 6

(Economia e gestione delle imprese interazionali)

EXTRAORDINARY FINANCIAL OPERATIONS 2/F oe 6

(Operazioni di finanzia straordinaria)

FINANCIAL MATHEMATICS (ADVANCED) 1/F we/oe 8

Matematica Finanziaria (progredito)

INDUSTRIAL DYNAMICS 1/F we 12

(Dinamiche industriali)

INTERNATIONAL ACCOUTING STANDARDS 2/F oe 6

(Principi contabili internazionali)

LABOUR LAW AND INDUSTRIAL RELATIONS 2/F oe 6

(Diritto del lavoro e relazioni industriali)

ORGANIZATIONAL THEORY AND DIGITAL NETWORKS

1/S -- 6

PROJECT-BASED ORGANIZATION:DESIGN AND HRM

1/S oe/we 6

TECHNOLOGY AND INNOVATION MANAGEMENT 2/F oe/we 6

TRADE AND RETAIL MARKETING 2/F we 6


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Management/Marketing


E1-ACF1-GM

ADVANCED CORPORATE FINANCE 1/S we/oe 8

ADVANCED FINANCIAL MATHEMATICS 1/S we 8

ANALYSIS OF PURCHASE BEHAVIOUR 1/F we 8

(Analisi del comportamento di acquisto)

BEHAVIOURAL ECONOMICS AND THEORY OF CONSUMPTION

1/F we 12

(Economia comportamentale e teoria dei consumi)

E1-CorStr5-GM

CORPORATE STRATEGIES 1/S we/oe 8

CREATIVE INDUSTRIES AND BUSINESS MODEL INNOVATION

1/S we 6

ENTREPRENEURSHIP AND VENTURE CAPITAL 1/S we 6

E2-FM9-GM

FASHION MANAGEMENT 2/F we/oe 8

INTERNATIONAL ACCOUNTING STANDARDS 1/S we 6

E2-IB12-GM

INTERNATIONAL BUSINESS 2/F we/oe 6

E2-IF13-GM

INTERNATIONAL FINANCE 2/F we/oe 8

INTERNATIONAL ECONOMICS AND INDUSTRIAL DYNAMICS

1/F we 12


2/F we/oe 6

LEGAL ISSUES IN MARKETING 1/F oe 6

E2-LM16-GM 2/F we 8

LUXURY MANAGEMENT

MARKETS, REGULATION AND LAW 1/F we/oe 6

MARKETING METRICS 1/S we 6

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(Analisi e misurazione delle performance di marketing)

MANAGEMENT OF INNOVATION 1/S we 6

E2-M&AIB17-GM 2/F we 8

M&A AND INVESTMENT BANKING

ORGANIZATIONAL ISSUES IN MARKETING AND SALES

1/S we 8

2/F we 6

ORGANIZING INNOVATION

E1-PMFR19-GM


1/F we 8

PRODUCT AND BRAND MANAGEMENT 1/S we 8

(Gestione del prodotto e della marca)

PROJECT-BASED ORGANIZATION: DESIGNA ND HRM

1/S we 6

RESEARCH METHODOLOGY FOR MARKETING 1/F we 6

RISK MANAGEMENT 1/S we 6

STATISTICS FOR MARKETING 1/S we 8

(Metodi statistici per il marketing)


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Professional Consulting and Corporate Auditing


AUDITING, TECHNICQUES AND PROFESSIONAL ETHICS

1/S oe 8

(Revisione Aziendale, tecnica e deontologia personale)

ADVANCED MANAGEMENT CONTROL 1/F we 8

(Controllo di gestione avanzato)

E1-CBL4-GM 1/F we 6

COMPANY LAW

(Diritto Societario)

CORPOTE GOVERNANCE AND INTERNAL AUDITING

1/S we 8

FINANCIAL MATHEMATICS 1/F we 8

(Matematica Finanziaria

INDUSTRIAL DYNAMICS 1/F we 12

(Dinamiche industriali)

INTERNATIONAL ACCOUTING STANDARDS 1/S oe 6


TAX LAW (advanced) 1/S oe 6

(Diritto tributario avanzato)


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Elective Courses (for the different Majors)


AUDITING 2/F we 6

ASSET MANAGEMENT 2/F we 8

COMPETITION AND HIGH-TECH MARKETS 2/F oe/we 6

COMMUNICATION STRATEGIES AND ADVERTISEMENT TECHNIQUES

2/F oe 6

(Strategie di Comunicazione e tecniche di pubblicità)

CORPORATE EVALUATION 2/F we/oe 6

(Valutazione d’azienda)

ECONOMICS AND MANAGEMENT OF THE MEDIA 2/F oe 8

(Economia e gestione dei media)

ENTREPREUNERSHIP AND VC 2/F we 6

FASHION MANAGEMENT 2/F we/oe 6

HISTORY OF FINANCE AND FINANCIAL SYSTEMS 2/F oe 6

(Storia della Finanza e dei Sistemi finanziari)

INTERNATIONAL ACCOUNTING STANDARDS 2/F oe 6


INTERNATIONA BUSINESS 2/F we/oe 6

INTERNAL AUDITING, COMPLIANCE AND CORPORATE RISK MANAGEMENT

2/F we 6


2/F we/oe 6

LUXURY MANAGEMENT 2/F we 6

M&A AND INVESTMENT BANKING 2/F oe 6

ORGANIZING INNOVATION 2/F we 6

REMUNERATION SYSTEMS AND HR MANAGEMENT

2/F woe 6

(Sistemi di Remunerazione e gestione delle

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risorse umane)

PROJECT FINANCE 2/F oe 6

(Finanza di progetto)

STRUCTURED FINANCE 2/F we 6

TAX PROCEDURAL LAW 2/F oe 6

(Diritto processuale tributario)

TRADE AND RETAIL MARKETING 2/F we/oe 6

TERRITORIAL MANAGEMENT 2/F we/oe 8


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Economics and Finance (English)


E1-AdMac2-M

ADVANCED MACROECONOMICS 1/S we 8

E1-AdMic3-M

ADVANCED MICROECONOMICS 1/S we 8

ASSET MANAGEMENT 2/F oe 8

E2-CF(Adv)4-M

CORPORATE FINANCE - ADVANCED 2/F we/oe 8

E2-ETI5-M

ECONOMETRIC THEORY 1/Annual we/oe 8

FIXED INCOME, CREDIT AND COMMODITIES 1/F we 8

INTERNATIONAL FINANCE 1/F we 8

M&A AND INVESTMENT BANKING 1/S we 8

E1-MMEF12-M

MATHEMATICAL METHODS FOR ECONOMICS AND FINANCE

1/F we 8

E1-MacAn13-M

MACROECONOMICS ANALYSIS 1/F we/oe 8

E1-MicAn15-M

MICROECONOMICS ANALYSIS 1/F we/oe 8


2/F we 8

PROBABILITY 1/F we 8

THEORY OF FINANCE 1/S we 8

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Elective courses

Semester



EQUITY MARKETS AND ALTERNATIVE INVESTMENTS Fall 60 we 8

EXPERIMENTAL AND BEHAVIOURAL ECONOMICS Fall 60 we 8

FINANCIAL AND CREDIT DERIVATIVES Fall 60 we 8

INTERNATIONAL TRADE AND COMMERCIAL POLICIES Fall 60 we/oe 8

REAL ESTATE FINANCE Fall 60 oe 8

RISK MANAGEMENT AND COMPLIANCE Fall 60 we 8

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▌THE SCHOOL OF MANAGEMENT – LUISS BUSINESS SCHOOL

The School of Management was established in 1985 with the objective of promoting post-degree, post-diploma and post-experience TRAINEESHIP in the field of management and economics, both in private companies and public administration. The school offers:

MASTER DEGREE

RESEARCH

SPECIALIZATION PROGRAMMES

MBA

EXECUTIVE PROGRAMMES The Master Degree division runs, among other things, a Master of Business Administration. The course lasts 16 months and full time attendance is obligatory. In-classroom lectures cover the following didactic areas:

Accountancy

Credit and financial intermediaries

Corporate finance

Production systems and technological innovation

Information systems

Quantitative methods for management

Organisational behaviour

Marketing

Strategy

Company law and tax legislation

Furthermore, elective courses are also envisaged as is participation in functional and business projects at companies and institutions characterised by their advanced management methods. The overall duration is about 1.200 hours of in-classroom didactic activity.

The Research division carries out scientific research either on its own initiative or upon it being commissioned by organisations and/or companies. Please note that the courses of the School are not open to Socrates/Erasmus + students or students under others exchange agreements.

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▌USEFUL INFORMATION FOR GUEST STUDENTS

COST OF LIVING

MONEY On January 1st, 2002 the Euro was introduced as legal currency in Italy, substituting the Italian “Lira”.

Banks – opening hours: Monday to Friday; 8.30 a.m.- 1.30 p.m. and 2.45 p.m. - 3.45 p.m. We suggest that you go to the bank in the morning. If you wish to open a bank account in Italy you will first have to obtain your Codice Fiscale (see n.9 TAXPAYER’S CODE NUMBER).

Credit cards are widely accepted in restaurants, hotels, railway stations and shops. You may use a credit card (Visa, MasterCard, American Express, etc) to cash Euro from Automatic Teller Machines – ATM – available in every bank at all times. Most cards have a limit on the amount of cash which can be withdrawn.

We recommend that students bring along a sufficient amount of Euros or travellers cheques to cover immediate necessities (keep in mind that there are considerable delays involved in transferring money to Italy from abroad!).

ACCOMMODATION LUISS University has no dormitory facilities. Most Erasmus + students live in private apartments with Italian or international roommates in the neighbourhoods nearby the University. The Student Exchange Office does not take direct responsibility for providing accommodation. A private organization takes care of it on the basis of the application forms received (by the Student Exchange Office of LUISS Guido Carli) by May 31. The average cost is between € 350 for a place in a double room and € 500 for a single room a month plus utilities (telephone, electricity, heating, gas). Ask your Coordinator for a copy of the accommodation documents. Please read the booking conditions carefully, follow the instructions and complete the application form.

INSURANCE All guest students are highly required to have an insurance policy covering medical care and third party liability. It is advisable for them to buy it in their country of origin because these policies are very expensive in Italy. For students from countries which are members of the European Union some medical costs are generally covered by their national health service (do not forget to bring your European Health Insurance Card – EHIC!).

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MEALS

At the university cafeteria: 3,20 € (or € 2,00 for reduced price)

Take-away pizza shops, snack bars: from 5 to 10 €

Pizzerie (pizza restaurants), Birrerie (beer houses), fast food, Tavole Calde (Self Service): from 12 € up

Trattorie, Ristoranti (restaurants): from about 20 € up.

PUBLIC TRANSPORTATION Rome has an integrated public transport network operated by the companies Atac – Cotral – FS- Ferrovie dello Stato. The system includes a network of metro, bus, tram and metro-type rail service.

Bus and tram services (ATAC) cover the centre of the city and the suburbs. They operate from 5.30 a.m. to 12.00 p.m. Night bus service is available from midnight to 5.30 a.m. Night busses are recognized by the number followed by the letter N (notturno).

The price of a single ticket, valid for 100 minutes, is 1,50 €.

The price of a monthly ticket, Intera Rete, valid for all busses and the underground, is about 35 €. Monthly tickets last for the solar month, so we recommend to buy them at the beginning of the month.

Note: Single or monthly tickets must be bought before boarding the bus. They may be purchased at ATAC kiosks (at the end of the line), news stands, Tabacchi (Tobacco shops) or from automatic ticket machines. Tickets must be validated on commencement of your journey. Validation machines are located at the rear of buses and trams, at the entry gates of Metro stations and within the entrance area of all rail stations.

The underground service is run by ACOTRAL, which also runs extra-urban buses. There are two lines, A and B, which connect extra-urban and peripheral zones with the centre. The cost of a single ticket is 1,50 €.

Metro line A runs from Battistini Station, situated Northwest of the city, to Agnanina Station in the Southwest. Due to works in the line for new stations and restoration, line A runs on rail only from 5:30 a.m. to 9 p.m. After this hour, a bus service is made available until midnight (until 1:30 a.m. on Saturdays).

Metro line B runs from Rebibbia station, situated Northeast of the City, to Laurentina Station in the South. ). Metro line B1 runs from Bologna station to Conca d’Oro station. Trains circulate from 5.30 a.m. to 11.30 p.m. (until 1.30 a.m. on Saturday

The one and only changing cross between the two lines is at Termini Station. With the integrated ticket – Metrebus – you may use all means of public transportation within the metropolitan area of Rome. It is valid for up to 100 minutes. The price of a single ticket is 1,50 €.

A shuttle train called Leonardo Express, leaving every 30 minutes (from 6.36 a.m. to 11.36 p.m.) links Fiumicino International Airport with Termini Central Station. The price of the ticket is 14 € for one ride.

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A shuttle train called FM1 linea urbana, leaving every 15 minutes (from 5.57 a.m. to 11.27 p.m.) links Fiumicino International Airport with Tiburtina Station. The price of the ticket is € 5.50.

For information about bus and tram service (ATAC) call the toll-free number 800 43 17 84 (Monday to Friday from 8 a.m. to 6 p.m.). All numbers beginning with 800 or 147 or 1670 are toll-free phone numbers. Bus and underground information can also be found in Tuttocittà, a streetmap which is issued annually along with Rome telephone directories. Also ask any Tourist Information stands for a

free map of the transportation network.

TAXIS Taxis in Rome are quite expensive; charges vary with distance, time of day and extra charges (supplementi). A taxi is, however, the easiest transportation for students arriving in Rome at Fiumicino International Airport (average fare about € 50). To order a taxi call +39-06-3570; +39-06-3970; +39-06-5870; +39-06-4994.

Car hire - through all the main agencies (AVIS; HERTZ).

Bicycle hire - various points in the centre of Rome.

BOOKS Average costs for university books are about 260 € per semester. The University bookshop is situated in the main campus, in Viale Romania 32. Students can buy books there at reduced price.

LIBRARIES A large number of libraries are located in Rome. The most important libraries are:

- LUISS University Library, Via di Santa Costanza 54, 00198. It holds about 120,000 books, over 2,000 paper journals, 75 databases, and it provides access to over 30,000 e-journals. The collection concentrates on economics, law and politics. The opening hours are the following: Reading Rooms, from Monday to Friday from 8 a.m. to 9.45 p.m./Saturday from 8 a.m. to 1.30 p.m.; Reference and Electronic Resources Room, from Monday to Friday from 8 a.m. to 1 p.m. and from 2 p.m. to 6.30 p.m.; Delivery Room and Circulation Service, from Monday to Friday from 8.30 a.m. to 7.30 p.m./Saturday from 8.30 a.m. to 1.30 p.m. - The Central National Library of Rome (Biblioteca Nazionale Centrale di Roma), Viale Castro Pretorio 105, 00185, tel. +39-06-49891; fax +39-06-4457635, website: http://www.bncrm.librari.beniculturali.it, email [email protected].

- Biblioteca Universitaria Alessandrina, Piazzale Aldo Moro 5, 00185, tel.+39-06-4474021, e-mail: [email protected].

http://www.bncrm.librari.beniculturali.it/



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SHOPPING It is less expensive to buy basic necessities (food, toilet articles, clothes) in large stores or supermarkets, such as UPIM, SMA, SIDIS, Billa, Carrefour etc. than in small shops. Many neighbourhoods hold weekly markets which can be also convenient for buying food.

ENTERTAINMENT

Cinema: tickets cost about € 7.5 (with a reduced price of about € 5.5 on Wednesdays in many cinemas or less in Cinemas d’Essay). Movies in English are shown at the Pasquino, Vicolo del Piede, Trastevere, the Quirinetta, via Marco Minghetti, 4, the Metropolitan and Olympia in Via del Corso.

Theatre and Concerts: tickets generally vary between € 15 and 40. Many associations give reductions to students. Tickets at reduced prices are sold at LUISS Guido Carli on a weekly basis. For detailed information call Diritto allo Studio, Viale Gorizia 17, 00198 Roma, tel. +39-06-85225410.

The university website has a special link to entertainment and various activities in Rome: www.luiss.it/omnia.

SPORTS A few years ago, the Sport Association at LUISS Guido Carli was set up. It offers all students the opportunity of playing various sports (basket, football, rugby, volley, ect.). It also organizes seminars and meetings with special guest speakers. The LUISS basketball team participates in the national championship. For further information students may contact the Sports Office, Via Tommaso Salvini 2, 00197 Rome, tel.+39-06-85225400, e-mail: [email protected], open from Monday to Friday from 10 a.m. to 1 p.m.

http://www.luiss.it/omnia


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MISCELLANEOUS Italian time in relation to Greenwich mean time: + 1 hour from October to March, + 2 from April to September.

CLIMATE AND CLOTHING Italy extends 1,200 km from North to South, so the climate varies considerably, with winter temperatures of -5°C and below (23°F) in the North, and summer temperatures of 40°C (105°F) in the South. Rome, located at the centre of the peninsula, has a mild climate, with temperatures rarely reaching the extremes indicated above. Consequently, light or medium-weight clothing is recommended. It is advisable, however, to come provided with a raincoat, and an overcoat or heavy jacket for the winter which can indeed have peaks of cold.

PHONE SERVICES The Italian phone network is run by Telecom Italia and various companies (Infostrada, Tele 2, Fastweb). Public phones are run by Telecom, they take coins or Telecom phone cards available at Tabacchis. For mobile phones, if you have a cell phone you can buy a sim card for about 15 € with several companies (TIM; WIND; VODAFONE) and choose your calling plan for the period of your stay. Local calls cost around 20c. per minute.

POST OFFICE Post Offices (Poste Italiane, www.poste.it ) are open Monday to Friday 8.30 a.m. to 1.30 p.m.; Saturday: 8.30 a.m. to noon. Some offices in the centre have longer opening hours; closing time is between 6 and 7 p.m. Stamps can also be bought at the Tabacchi.

TOURISM

LUISS Guido Carli has signed an agreement with CTS (Centro Turistico Studentesco e Giovanile) travel agency, where students can benefit from a number of services. LUISS students and alumni, Erasmus + students, LUISS faculty and staff members can purchase a CTS membership card for €18, instead of €25.

CTS members receive the CTS Membership Card and the International Student Identity Card, which gives access to discounts and cut prices on airline, train, ferry, movie and theatre tickets in Italy and abroad. It is also possible to purchase vacation packages to any place of destination. The CTS Help Desk is in Viale Gorizia 17, tel. +39-06-8522-5402, e-mail [email protected] and it is open from Monday to Friday from 9 a.m. to 1 p.m. and from 1.30 p.m. to 4.30 p.m. If you have an ISIC (International Student Identification Card) you can also find information or book cheap travel plans at other CTS agencies located in various parts of the city. For info: www.cts.it. For tourism information, another good place to make inquiries is E.P.T. - Ente Provinciale Turismo, the regional tourist office. Offices are at Via Parigi 5, near the central station, (Monday

http://www.poste.it/

http://www.cts.it/index.cfm?module=ActiveWeb&page=WebPage&s=isic


http://www.cts.it/

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to Saturday from 9 a.m. to 7 p.m.) and at Leonardo Da Vinci Airport, Fiumicino (International Arrivals, Terminal B, Monday to Sunday from 8.15 a.m. to 7 p.m.) . Detailed information can be obtained from the Central Information Office in Rome (Servizio Informazioni del Comune di Roma), at Via Parigi 11, tel. +39-06-488991; website: http://www.romaturismo.it, e-mail: [email protected].

INFORMATION ABOUT ROME Besides the EPT brochures (see above) good sources of information about streets, monuments, museums, places of entertainment, commercial activities, shopping are Tuttocittà and Pagine Gialle. Both are issued along with telephone directories, so you might find one in your apartment. It is advisable to buy a good map of the city. Another good source of information about what is going on in Rome is Trovaroma, a weekly publication which is given out with the Thursday edition of the newspaper La Repubblica. Many other newspapers offer similar publications (Corriere della Sera, Roma C’è).

EMBASSIES AND CONSULATES Most Embassies are located in Rome. There are Consulates in the smaller cities. Check your Ministry of Foreign Affairs for their diplomatic missions in Italy.

ELECTRICITY Electric current in Italy is 220 volts. If students come from the U.K. they will need an adaptor.

EMERGENCY NUMBERS In case of emergency call 112 (Carabinieri), 113 (Police), 115 (Fire Brigade), 116 (ACI Road Assistance), 118 (Ambulance). These calls are free. Other emergency numbers can be found in the opening pages of Pagine Gialle.

NATIONAL HOLIDAYS HOLIDAYS IN ROME January 1st New Year’s Day June 29 St. Peter and Paul January 6 Epiphany April 27 Easter Sunday (2016) April 28 Easter Monday (2016) April 25 Liberation Day May 1st Labour Day June 2 Republic Day August 15 Assumption Day November 1st All Saints December 8 Immaculate Conception December 25 Christmas Day December 26 Boxing Day

http://www.romaturismo.it/


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LUISS GUIDO CARLI WEB SITE http://www.luiss.it/it and www.luiss.edu Information for guest students can be found on http://www.luiss.edu/students/erasmus-and-exchange-students Search our web site, from time to time. Pages are updated when new information is available.

WEB SITES WITH USEFUL INFORMATION ON ITALY AND ROME Italy: http://www.article.student.com http://www.about.com http://goeurope.about.com/weekly/aa980402.htm http://goitaly.about.com/travel/europe/goitaly/ http://www.roughguides.com Rome: http://www.romaturismo.com http://www.romagiovane.it http://www.comune.roma.it

http://www.luiss.it/it

http://www.luiss.edu/



http://www.article.student.com/

http://www.about.com/

http://goeurope.about.com/weekly/aa980402.htm

http://goitaly.about.com/travel/europe/goitaly/

http://www.roughguides.com/

http://www.romaturismo.com/

http://www.romagiovane.it/

http://www.comune.roma.it/

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▌HOW DO I APPLY FOR A PERIOD OF STUDY AT LUISS?

1) WHO CAN APPLY: First of all, you should be aware of the fact that the Student Exchange Office of LUISS Guido Carli will accept exchange students only under the Erasmus + Programme or any other exchange agreement. Other students can only apply for corsi singoli and have to pay a fee for each course. At the end of the period of study they will receive a transcript of records for the exams taken. For corsi singoli registration is made through Segreteria Studenti (Student Office) of LUISS.

2) STEPS YOU SHOULD TAKE AND THINGS YOU SHOULD KNOW: Contact the International Coordinator at your Home University. Each sending Institution is responsible for the selection of students. Ask them for all the information, documents, brochures, application forms related to LUISS. We manage all relevant information through partner Institutions and do not usually send additional packages to the students selected for the exchange. Read the instructions carefully before you apply.

Be aware of our deadlines Search our web site from time to time: pages are updated when new information is available. Check the web pages of LUISS Professors (under Cattedre online) for detailed information about courses. Remember, the language of education is Italian. Your level should be adequate. LUISS Guido Carli offers an intensive Italian language course, held in September, and courses during both semesters (3 hours per week). The courses are at three levels, beginners, intermediate and advanced. At the end of the courses, the students who have complied with the requirements, will receive a certificate (with grades and ECTS credits) for the work done.

The courses are free of charge for our exchange students admitted under the Erasmus + programme or any other bilateral agreement.

If you feel your level is not sufficient, take a summer course before coming to LUISS for the intensive Italian language course held in September.

Each year LUISS offers some courses in English. The final list will be available at the beginning of classes.

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3) TIMING By February of every academic year, we send all our partners updated materials, application procedures and documents for exchange students. The deadline is May 31 every year for receiving the LUISS application form. All other deadlines change slightly from year to year. Exchange students will receive an acceptance letter and practical information in June.

THE STUDENT EXCHANGE OFFICE Dr. Annamaria A. Ricciardi Mrs. Anna Liguori Mr. Michele Sorrentino Mr. Andrea Ippoliti Viale Romania, 32 00197 Rome - Italy Tel. +39-06-85225722/642/5389 Fax +39-06-85225505 E-mail [email protected] Web site http://www.luiss.it/it Available for students: From Monday to Friday 10 a.m. – 12 p.m. Tuesdays and Thursdays 10 a.m. - 12 p.m. / 3 p.m. – 4 p.m. Head of office is available: From Monday to Friday 11 a.m. – 12 p.m. Tuesdays and Thursdays 3 p.m. - 4 p.m.


http://www.luiss.it/it

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▌2015-2016 ACADEMIC CALENDARS PLEASE NOTE THAT 2015/2016 ACADEMIC CALENDARS ARE NOT AVAILABLE AT TIME OF PUBLICATION. FOR FURTHER INFORMATION PLEASE CHECK LUISS WEB SITE: http://www.luiss.edu/students/student-office/academic-calendar

2015-2016

ACADEMIC CALENDAR:

BACHELOR - MASTER Department OF Economics and Business

Management; Department of Economics and

Finance

FIRST SEMESTER

MANDATORY ARRIVAL DATE: SEPTEMBER 10 2015 Student Exchange Office

(viale Romania 32)

For all incoming exchange students

CLASSES BEGIN SEPTEMBER 14 [*] 2015

CLASSES BEGIN SEPTEMBER 21 2015

CLASSES END DECEMBER 5 2015

EXAMINATION PERIOD

FROM 10 DECEMBER TO 19 DECEMBER 2015 (one examination

date for all courses)

FROM 7 JANUARY TO 13 FEBRUARY 2016

SECOND SEMESTER

MANDATORY ARRIVAL DATE: FEBRUARY 11 2016 Student Exchange Office

(viale Romania 32)

For all incoming exchange students

CLASSES BEGIN FEBRUARY 15 2016

CLASSES END MAY 14 2016

EXAMINATION PERIOD FROM 16 MAY TO 2 JULY 2016

▌EXCHANGE DEADLINES-ACADEMIC YEAR 2016-2017 May 31, 2015 (reception of LUISS application form)

http://www.luiss.edu/students/student-office/academic-calendar

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By this date, LUISS must receive the students' application forms (electronic and paper version signed by the student and the coordinator) requesting: registration for fall and/or spring semester (same deadline for the spring semester) registration for the intensive Italian course (if applicable) May 31 2015 (deadline for accommodation form) By this date, CTS must receive the request for accommodation. A copy must be sent to LUISS by the same date. Ask your home Coordinator for a copy of the housing documents. Please make sure to read the booking conditions for accommodation carefully, follow the instructions and meet the deadlines. After this date, LUISS cannot guarantee acceptance of the students and registration for the intensive Italian course and accommodation. June 2015 (acceptance of students) As soon as the completed application forms are received, LUISS will send the students an acceptance letter and practical information. July 1 2015 (deadline for reception of the Italian Language test) By this date, LUISS must receive the Italian test from the students who have registered for the intensive Italian language course held in September.

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▌LUISS GUIDO CARLI AND ECTS GRADING SYSTEM

The maximum final university grade is 110. For very brilliant students the degree may be awarded cum laude. Individual courses are graded on a scale of 18/30 (30 e lode).

Table of Grades: Department of Economics and Finance Department of Business and Management ECTS System - Distribution of grades

LUISS Grades

Econ. Fin. Busin. Man.

Econ. Fin. Busin. Man. % of grades

Previous ECTS Grading system

30 e lode

5,66 % A

30

19,08 %

29

9,36 % B

28

16,67 %

C

27

13,31 %

26

9,81 % D

25 6,77 %

24

5,88 %

23

3,25 %

E 22

2,43 %

21

1,74 %

20

2,06 %

19

1,16 %

18

2,82 %

Total

100%

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▌FAQ – FREQUENTLY ASKED QUESTIONS ◊ Admission / Enrolment ►I am an international student and would like to study at LUISS Guido Carli, what should I do? If your University has a Bilateral Agreement with LUISS or agreement under the Erasmus + Programme, you can apply through the Student Exchange Office of your Institution. The first thing to do is to contact the co-ordinator in your home Institution. If your University does not have an agreement with LUISS:

you can enrol for single courses (corsi singoli). In this case you would have to pay a fee of 1.000 € per course; in order to enrol read the information available on the web site (Students Office) and contact Settore Studenti;

you can enrol for a degree course. In this case you would have to take the admission test. In order to enrol read the information available on the web site (Students Office) and contact Settore Studenti.

◊ Language of Education ►I do not speak Italian. Do you offer courses in English? At LUISS the language of education is Italian but an increasing number of degree programmes and courses are offered in English each year. The courses belonging to the following Bachelors and Masters Degrees are entirely taught in English:

Bachelors Degree in Economics and Finance and Business Management

Masters Degree in General Management

Double Degree in International Management (with the University of Fudan – Shanghai)

Masters Degree in Financial Economics

Masters Degree in International Relations

Master in European Studies (MES)

Master of Science in Economics (MOSEC)

Master in E-Business, Management and Consulting (MERP)

Erasmus and Exchange students will be allowed to attend the courses in English offered in the General Management, Economics and Business and the one year Master programmes, according to their level of study, department, academic background and English language competences. The Master in EU Studies offers only a few places to exchange students.

◊ Italian Language Courses ►Do you offer Italian language courses? Who can apply?

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Each year, LUISS offers extensive courses in both semesters. These courses are at beginners, intermediate and advanced level. The courses are only open to students coming from partner Universities and they are free of charge. If students do not have a sufficient level of Italian, they are highly recommended to take a summer course before coming to LUISS. At the end of the courses, the students who have complied with the requirements, will receive a certificate for the results achieved (with grades and ECTS credits).

◊ Deadlines and Arrival Dates ►When should I apply for LUISS? The deadline for LUISS is May 31. By this date LUISS must receive the application forms (electronic and printed version) of the incoming students (for both fall and spring semester) from partner Universities. Find out when and where you have to apply at your University. After the deadline of May 31 students may not be accepted by LUISS. ►When should I arrive at LUISS? There are set arrival dates for each academic year and they are mandatory. For the 2014-2015 academic year the arrival dates are: Bachelor and Master Degrees - Department of Law: Fall semester:

Mandatory arrival date: 10 September 2015

Classes begin: 14 September 2015 (II and III year classes at Bachelor level and II year classes at Master level of the Department of Economics) - 21 September 2015

Classes end: 5 December 2015

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Spring semester:

Mandatory arrival date: 11 February 2016

Classes begin: 15 February 2016

Classes end: 14 May 2016 On the set arrival dates, the students should go to the Student Exchange Office for student mobility at 10.30 or at 2.30 p. m. Orientation sessions will be held on the arrival dates and students will receive an information package. ◊ Accommodation ►How can I find a room in Rome? You can apply through LUISS by May 31st. In this case CTS (Centro Turistico Studentesco e Giovanile) will take care of finding a room for you. Make sure you read the booking conditions carefully, follow the instructions and meet the deadlines. Of course, you can look for a room by yourself, in this case we advise you to come to Rome at least two weeks before the beginning of each semester because it is not easy to find accommodation in Rome.

◊ Cost of Living ►How much will I spend in Rome? Housing: the average cost is between € 350/400 (for a place in a double room) and € 500/600 (for a single room) a month plus extras (telephone, electricity, heating, etc.). Meals: about 2€ per meal at the University cafeteria. From 5 to 25€ in take-away pizza shops, bars, pizzerie, trattorie. Public transport: the price of a monthly card(tessera intera rete), for all public transport, is 35€. Books: about 300 € per semester. Cinema: a ticket costs about 7€. Theatre and Concerts: the average cost is between 15 and 30€, but many associations give students reduced prices.

◊ Student Facilities at LUISS ►What facilities are offered to exchange students? Guest students will have the same facilities as Italian students: access to the Library, the University Dining Hall, computer and multimedia facilities, e-mail, sports, and all the extra

209

curricular activities organised for students such as: film shows, conferences, cultural events, concerts, parties, tours, and much more.

◊ Course Enrolment and Classes – Bachelor Degrees ►Which courses can I take? You will be given access to all the courses in the four Departments as long as you have the necessary prerequisites and you do not have time-table clashes, because attendance of courses is compulsory. Full-year courses can only be taken by the students that will spend the whole academic year at LUISS. You will be given access to the courses in English according to your level of study, department, academic background and English language competence. Information about courses can be found online in the ECTS brochures in English (http://www.luiss.edu/prospective-students/exchange-students/ects-course-catalogs).

◊ Course Enrolment and Classes – Master Degrees

►Which courses can I take? You will be given access to the Master courses in the four Departments (offered in your period of study), as long as you have:

a bachelor degree or three years of study completed before departure; a very good command of Italian/English language; the necessary prerequisites; no time-table clashes because attendance of courses is compulsory.

For the Department of Law (five year degree course):

The first three years of study are equivalent to Bachelor Level. The fourth and fifth years of study are equivalent to Master level.

Law students in their third year will be allowed to take fourth or fifth year courses if they have a very good Italian language level. Full-year courses can only be taken by the students that will spend the whole academic year at LUISS. Optional courses Optional courses will be offered only if a sufficient number of students register for the courses. If you choose them, make sure you enrol in a few extra courses. The Department of Economics and Finance and the Department of Business and Management offers many optional courses.

http://www.luiss.edu/prospective-students/exchange-students/ects-course-catalogs

210

◊ Exams and the Italian Examination System ►How many courses should I take?

The average work load for LUISS students is about 30 ECTS credits per semester, including language courses. Incoming students are advised not to take more than 24 credits. They can take more if their language competence is very good.

Information about courses can be found in the ECTS brochures in English at http://www.luiss.edu/prospective-students/exchange-students/ects-course-catalogs.

All guest students must send a Learning Agreement (Programme of study) approved by the co-ordinator of the home University, before arrival.

From the beginning of classes, students will have a few days to select courses and make their final choice. A course registration form must be presented to the Student Exchange Office of LUISS, by the given deadline.

After the deadline it will not be possible to add or change courses.

►How do I register to sit an exam? Guest students will be automatically registered for all the examination dates (Appelli) for all the courses they have taken. Please note: at the end of each exam students must always sign the examination register (Verbale d’esame) which will also be signed by the professors. This is very important, otherwise the grades will not be included into their transcripts of records. Also, if an exam is failed it can be repeated the next following date in the exam session. ►When can I sit exams? Bachelor and Master Degrees - Department of Economics and Finance, Department of Business and Management: examination periods a. y. 2015-2016 Fall semester:

from 10 December to 19 December from 7 January to 13 February

Spring semester: from 16 May to 2 July

For each course, LUISS offers two or three examination dates (Appelli) during a long examination period. Guest students will be automatically registered for all the examination dates (Appelli) of all the courses they have chosen and indicated in the course enrolment form. The official examination dates will be posted on-line at the end of each semester. You may search the dates from www.luiss.it as follows:

DIDATTICA: facoltà area of study CATTEDRE ONLINE: name of the professor or of

the subject cerca date esami. Exams can be taken only on the official dates. Therefore, students should make their travelling arrangements according to the examination periods. The exact examination dates are decided by the professors at the end of each semester.

http://www.luiss.it/english_version/studyatluiss/ects.html

http://www.luiss.it/

211

►Are all the exams oral? The Italian University system is based on oral exams although some courses may require written work during the semester or a written exam before the final oral examination.

◊ Transcripts of Records ►When will I receive my transcript? Original transcripts of records will be sent to both students and partner institutions after the end of each examination session. Students who come to LUISS for the whole academic year or for the second semester, will receive the transcripts by mid-September. Since the examination session will finish at the end of July and the University closes in August, the transcripts can only be issued by the Student Office after the Summer break. Therefore, no exceptions can be made.

◊ The Student Exchange Office ►When can I contact the office? Office Hours: Morning: from Monday through Friday, from 10.00 a.m. to 12.00 p.m. Afternoon: Tuesday and Thursday, from 3.00 p.m. to 4.00 p.m. Annamaria A. Ricciardi (Head of the Office): Morning: from Monday to Friday, from 11.00 a.m. to 12.00 p.m. Afternoon: Tuesday and Thursday, from 3.00 p.m. to 4.00 p.m. In the Summer, from mid-June to mid-September, the Office is closed on Friday afternoons.

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▌LUISS GUIDO CARLI – AREA MAP

LUISS Guido Carli – Main Campus: Viale Romania,32

To Viale

Romania,32

←

Via

Parenzo,1

1

Via di S.

Costanza,5

3

Viale

Pola,12

Via Parenzo,11:

- Department of Law (Lecture rooms, Student Office)

Viale Pola,12:

- Administrative Offices - LUISS Business School

Viale Gorizia, 17:

- Students Union - Sports Office

Via di S. Costanza, 53: - Library

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Viale Romania,32 (Main Campus):

- THE STUDENT EXCHANGE OFFICE - Presidency, Rectorate, Students Office - Departments of Economics and Finance,

Departments of Business and Management and Department of Political Science

- Dining Hall

- Orientation Office - Placement Office

Shuttle service There is a minibus service that links the different university sites: Viale Romania 32, Viale Gorizia 17, Via Parenzo 11 and Via di Santa Costanza 53. Hours from Monday to Friday: - from Viale Romania to other venues: hourly from 7.30 a.m. to 9.30 p.m.

HOW TO REACH THE UNIVERSITY SITES The closest metro stations are: Piazza Bologna, B Line. Buses from Termini Station: Line 36, Line 84 to Viale Pola, Via di S. Costanza, Via Parenzo, Viale Gorizia. Buses from Termini Station: Line 217, Line 360, Line 910 (stop in Viale Parioli) to Viale Romania.