GENERAL MATHEMATICS PROGRAM a.a 2019-2020
I CHANNEL

1) Logic, sets and numerical sets
Propositional logic. Propositions. Decidable propositions. Logical operations between propositions. Logical implication. Necessity, sufficiency and necessity and sufficiency. Truth tables. Theorem. Methods for proving a theorem. Sets. Operations between sets. Numerical sets:
natural numbers, relative numbers and rational numbers. Infimum and supremum of a numerical set. Irrationality of square root of 2 (with proof). Dedekind's axiom. The real numbers set. Real numbers and their representation on the straight line. Limited and non-limited sets. Maximum and minimum of a numerical set. Intervals and boundary of a point. Elements of line topology: isolated, boundary, internal and accumulation points. Open sets. Closed sets. A set is closed if and only if it contains all its accumulation points.
2) Sums
Definition of summation. Sum of the first natural n (with proof). Sum of the first n terms of a geometric progression (with proof). Summation properties.
3) Real functions of real variable
Real functions of real variable. The Cartesian plane and the graph of a function. Injective and surjective functions. Invertible functions. Even and odd functions. Increasing and decreasing functions. Link between monotony and injectivity. Inverse function. Inverse function graph. Elementary functions. Transformations of elementary functions. Compound function. Multi-law defined functions. Domain of a function.
4) Sequences and numerical series
Converging, diverging and indeterminate sequences. Limits of sequences. Definition of numerical series. Necessary condition for convergence
of a series (with proof). The character of the geometric series (with proof). Mengoli series and its value (with proof).
5) Limits of real functions of real variable
Definition of limits. Right-hand limit and left-hand limit. Vertical and horizontal asymptote. Oblique asymptote. Theorem on uniqueness of limit. (with proof). Theorems on sign permanence (with proof). Rational operations on limits. Indeterminate forms. Notable limits.
6) Infinites and infinitesimals
Definition of infinitesimal and infinite. Comparison between infinitesimal and infinite. Order of infinitesimal and infinite. Cancellation theorems (with proof). Order propagation.
7) Continuity
Definition of continuity in a point. Continuity in a set. Classification of discontinuity points. Continuity of elementary functions. Continuity
of the compound function. Continuity of functions defined by several laws. Theorem of zeros for continuous functions. Weierstrass's theorem. Darboux's theorem (with proof).
8) Differential calculus
Difference quotient. Derivative of a function in a point and its geometric meaning. Derivability implies continuity (with proof). Points of non-derivability.
Derivative function and derivatives of subsequent order. Derivative of elementary functions. The rules of derivation. Derivative of compound functions. De L’Hopital's theorem and its application to indeterminate forms. Taylor polynomial of order 1 and order 2 (with proof). The factorial of n. Taylor polynomial
of order n. Mc Laurin polynomial. Differential and its geometric meaning. First-order error theorem (with proof). Local maxima and minima. Fermat's theorem (with proof). Rolle's theorem (with proof). Lagrange's theorem (with proof). Corollaries to Lagrange's theorem (with proof). Relationship between the sign of the first derivative and the increasing / decreasing functions in an interval (with proof). Concavity and convexity in a point. Relationship between the sign of the second derivative and the convexity / concavity of a function in an interval (with proof). Flex points. Global concavity and convexity conditions.
9) Integral calculus
Primitive of a function. Indefinite integral. Properties of primitives (with proof). Property of the indefinite integral. Immediate indefinite integrals. Integration by parts (with proof). Area subtended by a curve. Superior and inferior integral sum. Definition of definited Riemann integral. Property
of the definite integral. Integral function. The integral mean value theorem (with proof). Torricelli-Barrow's theorem (with proof). Corollary to Torricelli-Barrow's theorem (with proof).
10) Linear algebra
Vectors and their geometric representation. Product of a vector for a scalar. Vectors addition. The vector space Rn: Linear combination of
vectors. Linearly dependent and independent vectors. Matrices. Matrix addition. Matrix multiplication. Determinant of a matrix. Matrix
inverse. Uniqueness of the inverse matrix (with proof). Necessary condition for the existence of the inverse matrix (with proof). Sufficient condition for the existence of the inverse matrix. Transposed matrix. Rank of a matrix. Linear equation systems. Cramer's theorem. Rouché-Capelli theorem. Homogeneous systems. Parametric systems

Testi adottati:

EN: Carl P. Simon, Lawrence Blume, Mathematics for economists, W.W. Norton and Company, 2010.
Only: Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Appendix 4.
http://disa.uniroma3.it/didattica/lauree-triennali/matematica-generale-n-o-ii-canale-d-k/

1) Logic, sets and numerical sets
Propositional logic. Propositions. Decidable propositions. Logical operations between propositions. Logical implication. Necessity, sufficiency and necessity and sufficiency. Truth tables. Theorem. Methods for proving a theorem. Sets. Operations between sets. Numerical sets:
natural numbers, relative numbers and rational numbers. Infimum and supremum of a numerical set. Irrationality of square root of 2 (with proof). Dedekind's axiom. The real numbers set. Real numbers and their representation on the straight line. Limited and non-limited sets. Maximum and minimum of a numerical set. Intervals and boundary of a point. Elements of line topology: isolated, boundary, internal and accumulation points. Open sets. Closed sets. A set is closed if and only if it contains all its accumulation points.
2) Sums
Definition of summation. Sum of the first natural n (with proof). Sum of the first n terms of a geometric progression (with proof). Summation properties.
3) Real functions of real variable
Real functions of real variable. The Cartesian plane and the graph of a function. Injective and surjective functions. Invertible functions. Even and odd functions. Increasing and decreasing functions. Link between monotony and injectivity. Inverse function. Inverse function graph. Elementary functions. Transformations of elementary functions. Compound function. Multi-law defined functions. Domain of a function.
4) Sequences and numerical series
Converging, diverging and indeterminate sequences. Limits of sequences. Definition of numerical series. Necessary condition for convergence
of a series (with proof). The character of the geometric series (with proof). Mengoli series and its value (with proof).
5) Limits of real functions of real variable
Definition of limits. Right-hand limit and left-hand limit. Vertical and horizontal asymptote. Oblique asymptote. Theorem on uniqueness of limit. (with proof). Theorems on sign permanence (with proof). Rational operations on limits. Indeterminate forms. Notable limits.
6) Infinites and infinitesimals
Definition of infinitesimal and infinite. Comparison between infinitesimal and infinite. Order of infinitesimal and infinite. Cancellation theorems (with proof). Order propagation.
7) Continuity
Definition of continuity in a point. Continuity in a set. Classification of discontinuity points. Continuity of elementary functions. Continuity
of the compound function. Continuity of functions defined by several laws. Theorem of zeros for continuous functions. Weierstrass's theorem. Darboux's theorem (with proof).
8) Differential calculus
Difference quotient. Derivative of a function in a point and its geometric meaning. Derivability implies continuity (with proof). Points of non-derivability.
Derivative function and derivatives of subsequent order. Derivative of elementary functions. The rules of derivation. Derivative of compound functions. De L’Hopital's theorem and its application to indeterminate forms. Taylor polynomial of order 1 and order 2 (with proof). The factorial of n. Taylor polynomial
of order n. Mc Laurin polynomial. Differential and its geometric meaning. First-order error theorem (with proof). Local maxima and minima. Fermat's theorem (with proof). Rolle's theorem (with proof). Lagrange's theorem (with proof). Corollaries to Lagrange's theorem (with proof). Relationship between the sign of the first derivative and the increasing / decreasing functions in an interval (with proof). Concavity and convexity in a point. Relationship between the sign of the second derivative and the convexity / concavity of a function in an interval (with proof). Flex points. Global concavity and convexity conditions.
9) Integral calculus
Primitive of a function. Indefinite integral. Properties of primitives (with proof). Property of the indefinite integral. Immediate indefinite integrals. Integration by parts (with proof). Area subtended by a curve. Superior and inferior integral sum. Definition of definited Riemann integral. Property
of the definite integral. Integral function. The integral mean value theorem (with proof). Torricelli-Barrow's theorem (with proof). Corollary to Torricelli-Barrow's theorem (with proof).
10) Linear algebra
Vectors and their geometric representation. Product of a vector for a scalar. Vectors addition. The vector space Rn: Linear combination of
vectors. Linearly dependent and independent vectors. Matrices. Matrix addition. Matrix multiplication. Determinant of a matrix. Matrix
inverse. Uniqueness of the inverse matrix (with proof). Necessary condition for the existence of the inverse matrix (with proof). Sufficient condition for the existence of the inverse matrix. Transposed matrix. Rank of a matrix. Linear equation systems. Cramer's theorem. Rouché-Capelli theorem. Homogeneous systems. Parametric systems

Mathematics for economists Carl P. Simon, Lawrence Blume- W.W. Norton and Company, Inc.
Only:Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Appendix 4 .

1) Logic, sets and numerical sets
Propositional logic. Propositions. Decidable propositions. Logical operations between propositions. Logical implication. Necessity, sufficiency and necessity and sufficiency. Truth tables. Theorem. Methods for proving a theorem. Sets. Operations between sets. Numerical sets:
natural numbers, relative numbers and rational numbers. Infimum and supremum of a numerical set. Irrationality of square root of 2 (with proof). Dedekind's axiom. The real numbers set. Real numbers and their representation on the straight line. Limited and non-limited sets. Maximum and minimum of a numerical set. Intervals and boundary of a point. Elements of line topology: isolated, boundary, internal and accumulation points. Open sets. Closed sets. A set is closed if and only if it contains all its accumulation points.
2) Sums
Definition of summation. Sum of the first natural n (with proof). Sum of the first n terms of a geometric progression (with proof). Summation properties.
3) Real functions of real variable
Real functions of real variable. The Cartesian plane and the graph of a function. Injective and surjective functions. Invertible functions. Even and odd functions. Increasing and decreasing functions. Link between monotony and injectivity. Inverse function. Inverse function graph. Elementary functions. Transformations of elementary functions. Compound function. Multi-law defined functions. Domain of a function.
4) Sequences and numerical series
Converging, diverging and indeterminate sequences. Limits of sequences. Definition of numerical series. Necessary condition for convergence
of a series (with proof). The character of the geometric series (with proof). Mengoli series and its value (with proof).
5) Limits of real functions of real variable
Definition of limits. Right-hand limit and left-hand limit. Vertical and horizontal asymptote. Oblique asymptote. Theorem on uniqueness of limit. (with proof). Theorems on sign permanence (with proof). Rational operations on limits. Indeterminate forms. Notable limits.
6) Infinites and infinitesimals
Definition of infinitesimal and infinite. Comparison between infinitesimal and infinite. Order of infinitesimal and infinite. Cancellation theorems (with proof). Order propagation.
7) Continuity
Definition of continuity in a point. Continuity in a set. Classification of discontinuity points. Continuity of elementary functions. Continuity
of the compound function. Continuity of functions defined by several laws. Theorem of zeros for continuous functions. Weierstrass's theorem. Darboux's theorem (with proof).
8) Differential calculus
Difference quotient. Derivative of a function in a point and its geometric meaning. Derivability implies continuity (with proof). Points of non-derivability.
Derivative function and derivatives of subsequent order. Derivative of elementary functions. The rules of derivation. Derivative of compound functions. De L’Hopital's theorem and its application to indeterminate forms. Taylor polynomial of order 1 and order 2 (with proof). The factorial of n. Taylor polynomial
of order n. Mc Laurin polynomial. Differential and its geometric meaning. First-order error theorem (with proof). Local maxima and minima. Fermat's theorem (with proof). Rolle's theorem (with proof). Lagrange's theorem (with proof). Corollaries to Lagrange's theorem (with proof). Relationship between the sign of the first derivative and the increasing / decreasing functions in an interval (with proof). Concavity and convexity in a point. Relationship between the sign of the second derivative and the convexity / concavity of a function in an interval (with proof). Flex points. Global concavity and convexity conditions.
9) Integral calculus
Primitive of a function. Indefinite integral. Properties of primitives (with proof). Property of the indefinite integral. Immediate indefinite integrals. Integration by parts (with proof). Area subtended by a curve. Superior and inferior integral sum. Definition of definited Riemann integral. Property
of the definite integral. Integral function. The integral mean value theorem (with proof). Torricelli-Barrow's theorem (with proof). Corollary to Torricelli-Barrow's theorem (with proof).
10) Linear algebra
Vectors and their geometric representation. Product of a vector for a scalar. Vectors addition. The vector space Rn: Linear combination of
vectors. Linearly dependent and independent vectors. Matrices. Matrix addition. Matrix multiplication. Determinant of a matrix. Matrix
inverse. Uniqueness of the inverse matrix (with proof). Necessary condition for the existence of the inverse matrix (with proof). Sufficient condition for the existence of the inverse matrix. Transposed matrix. Rank of a matrix. Linear equation systems. Cramer's theorem. Rouché-Capelli theorem. Homogeneous systems. Parametric systems.

Carl P. Simon, Lawrence Blume, Mathematics for economists, W.W. Norton and Company, 2010.
Only: Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Appendix 4.

1. The Economic system. Definitions and measurement of the main macroeconomic aggregates
2. Macroeconomic equilibrium and the Keynesian theory of income and employment
3.The public sector
4. The open economy: balance of payments, exchange rate, external constraint
5. Money and financial activities. The Central Bank and the banking sector, Demand and supply of money, interest rate determination.
6. Aggregate investment and the rate of interest. Controversial aspects.
7. The IS-LM model. Economic policy in the IS-LM model in a closed economy. Effects of changes in nominal wages
8. The IS-LM model for the open economy, exchange rate regimes and the effects of economic policy
9.The AD-AS model and its implications for the theory of output and employment
10. Inflation and unemployment some elements towards an interpretation

C. De Vincenti, MACROECONOMIA - ELEMENTI DI BASE, editore Carocci, 2003 (except parr 9.5 e 9.6 and chapt. 10) + macroeconomics hand-outs by prof. Antonella Stirati available at the library

The course consists of three modules
First module:
• National Accounts
• Aggregate demand. Income multipliers
• The IS-LM model

Second module:
• Aggregate demand in an open economy
• The IS-LM model in an open economy

Third module:
• The labour market
• The AD-AS model
• The natural rate of unemployment and the Phillips curve
• Inflation, production and money growth. The quantity theory of money
• Introduction to growth models

O. Blanchard, F. Giavazzi, A Amighini
Macroeconomics
Pearson, 2017

Introduction
- What is Macroeconomics
- Some elements of the System of National Accounts

Part 1: The Short Run
- The Goods Market
- Financial Markets
- The IS-LM Model

Part 2: The Medium Run
- The Labor Market
- The Phillips Curve, the Natural Rate of Unemployment, and Inflation
- The IS-LM-PC Model

Part 3: Extensions
- Introduction to the theory of economic growth
- The open economy and the Exchange Rate Regimes

- Olivier Blanchard "Macroeconomics". 7th edition Pearson

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS
First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.
Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises: Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018


Alternatively:

David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS

First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.

Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises:
Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018

Alternatively:
David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS
First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.
Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises: Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018


Alternatively:

David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS

First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.

Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises:
Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018

Alternatively:
David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

First part: BUSINESS ADMINISTRATION
1) Business Economics and Accounting. General company characters. The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk. Income and profitability. Social responsibility and sustainability. The process of dimensional growth of companies: the main characteristics, nature, structure, internal exchange and production operations in groups of companies.
3) Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.

Second part: ACCRUAL ACCOUNTING
Double-entry theory and method. The double-entry method applied to the income system in production companies. The accounting records of the incorporation operations and of the main operations. The accounts for closing and reopening the accounts.

Part I
ZANDA, Lineamenti di Economia Aziendale, Edizioni Kappa, Roma, 2006;
Part II
T.ONESTI et al. (a cura di), Esercitazioni di economia aziendale, Giappichelli, Torino, 2013 (ebook).

During the lessons, the teacher will provide additional support material through the website of the chair: https://onestieconomiaaziendale.wordpress.com/

Part I: The Economy of the Company: Business Economics and Accounting. The study of the conditions of existence of the corporate body; the personal component and the operating means of the company. Object of the company. Corporate subjects: "legal entities" and "economic subject". Organization. The organizational structures. Various types of company. The institution of the company, its location, its size.
The supply company: general characteristics and management schemes. Production companies for the exchange of goods and services: companies. The aims of the company. The economic balance as a fundamental condition of the life of the company. Economic balance and economy. The possible ways of remunerating the productive factors used by the company. The business risk and the subjects on which it weighs. Business efficiency. The process of forming the company's income. The capital requirement and its determination. Company financing: equity and credit capital in their various forms; corporate self-financing; the choice of convenient forms of financing; the dynamic relationship between equity and credit capital. The financial structure of the company.
The process of dimensional growth of companies: the main characteristics, nature, structure, internal exchange and production operations in groups of companies.
Part II: Accounting elements: Double-entry theory and method. The double-entry method applied to the income system in production companies. The accounting records of the incorporation operations and of the main operations. The accounts for closing and reopening the accounts.

Zanda, Fondamenti di Economia Aziendale, Giappichelli, ultima edizione
oppure
Zanda, Lineamenti di Economia Aziendale, Kappa, ultima edizione

L. MUSERRA, T.ONESTI, Esercitazioni di economia aziendale, Giappichelli, 2013 (ebook, available on the website giappichelli.it).
Please refer to the onestieconomiaaziendale.wordpress.com course page for course material.

Structure of the computer. Hardware and Software. General diagram of a data processing system. Type of computers. The use of the computer memories. The processor. The multiprocessor architectures. Input / Output: Ports for input / output of the computer. The units of input. The units of output. Operating systems. Characteristics of the operating systems. The multitasking operating systems. The Windows operating system. The graphical interface. Computer networks. The communication between computers. Protocols and interfaces. The local networks. The transmission media. The types of network. The wide area networks. Internetwork. Internet. The services of the Internet.
Spreadsheet, Word processing and presentation tools.

ECDL Syllabus 5.0 - La guida McGraw- Hill alla Patente Europea del Computer

The course of public law is divided into two modules.
The I Module deals with the following topics: theory of social groups; the social system groups; the structure of the legal system; power and its species; the techniques of dividing power; the forms of exercising power: the legal norm and the provision; subjects; interests; the goods; subjective legal situations; legal facts; human behavior; the legal effects; the responsability; the ordering levels of governance (international, European Community, state, local); the organization of public powers; public functions (political address, standardization, administration, jurisdiction).
The second module deals with the Italian legal system and the regulatory principles of its political, legislative, administrative and judicial activities.

Educational materials
During the course will be available educational materials for explanatory and exercise on the site of the Departments in the appropriate spaces reserved for the purpose as well as on the fb page of the subject.
Bibliography
For the preparation of the first and second modules, we recommend the study of a manual chosen from the following:A. MELONCELLI, Manuale di diritto pubblico, Milano, Giuffrè, ult. ed.
R. BIN – G. PITRUZZELLA, Diritto pubblico, Torino, Giappichelli, ult. ed.
C. ROSSANO, Manuale di Diritto pubblico, Napoli, Jovene, ult. ed.
P. CARETTI – U. DE SIERVO, Istituzioni di Diritto pubblico, Torino, Giappichelli, ult. ed.

The course of public law is divided into two modules.
The I Module deals with the following topics: theory of social groups; the social system groups; the structure of the legal system; power and its species; the techniques of dividing power; the forms of exercising power: the legal norm and the provision; subjects; interests; the goods; subjective legal situations; legal facts; human behavior; the legal effects; the responsability; the ordering levels of governance (international, European Community, state, local); the organization of public powers; public functions (political address, standardization, administration, jurisdiction).
The second module deals with the Italian legal system and the regulatory principles of its political, legislative, administrative and judicial activities.

Educational materials
During the course will be available educational materials for explanatory and exercise on the site of the Departments in the appropriate spaces reserved for the purpose as well as on the fb page of the subject.
Bibliography
For the preparation of the first and second modules, we recommend the study of a manual chosen from the following:A. MELONCELLI, Manuale di diritto pubblico, Milano, Giuffrè, ult. ed.
R. BIN – G. PITRUZZELLA, Diritto pubblico, Torino, Giappichelli, ult. ed.
C. ROSSANO, Manuale di Diritto pubblico, Napoli, Jovene, ult. ed.
P. CARETTI – U. DE SIERVO, Istituzioni di Diritto pubblico, Torino, Giappichelli, ult. ed.

The course of public law is divided into two modules.
The I Module deals with the following topics: theory of social groups; the social system groups; the structure of the legal system; power and its species; the techniques of dividing power; the forms of exercising power: the legal norm and the provision; subjects; interests; the goods; subjective legal situations; legal facts; human behavior; the legal effects; the responsability; the ordering levels of governance (international, European Community, state, local); the organization of public powers; public functions (political address, standardization, administration, jurisdiction).
The second module deals with the Italian legal system and the regulatory principles of its political, legislative, administrative and judicial activities.

Educational materials
During the course will be available educational materials for explanatory and exercise on the site of the Departments in the appropriate spaces reserved for the purpose as well as on the fb page of the subject.
Bibliography
For the preparation of the first and second modules, we recommend the study of a manual chosen from the following:A. MELONCELLI, Manuale di diritto pubblico, Milano, Giuffrè, ult. ed.
R. BIN – G. PITRUZZELLA, Diritto pubblico, Torino, Giappichelli, ult. ed.
C. ROSSANO, Manuale di Diritto pubblico, Napoli, Jovene, ult. ed.
P. CARETTI – U. DE SIERVO, Istituzioni di Diritto pubblico, Torino, Giappichelli, ult. ed.

MICROECONOMICS
Prof. A. Trezzini

The Microeconomics course deals with the part of the economic analysis that has as its object the determination of the exchange value of individual goods, as well as the related problem of income distribution.
In the first part of the course the fundamental elements concerning the single productive processes and their mutual relations are exposed.
The second part of the course considers how the problem of the exchange value of goods and the distribution of the product has been dealt with within the theoretical framework of classical economists.
The third part of the course examines the basic elements of the marginalist microeconomics. The theory of production and firms in perfect competition and the theory of consumer and exchange are analysed.
The fourth part of the course is dedicated to theories of firm and individual industry in monopoly and oligopolistic conditions.
A fifth concluding part will be dedicated to a comparison between the two alternative approaches to the problems of value and distribution: the classic one and the marginalist one.

Dispensa n.1 Elementi di teoria della produzione (materiale didattico redatto dal Prof. R: Ciccone in collaborazione con il Dott. Trezzini)
Dispensa n.2 La teoria classica della distribuzione e dei prezzi relativi (materiale didattico redatto dal Prof. R: Ciccone in collaborazione con il Dott. Trezzini) compresa l'Appendice A ed esclusa l'Appendice B.
Dispensa n.3 La teoria marginalista della distribuzione e dei prezzi relativi (materiale didattico redatto dal Prof. R: Ciccone in collaborazione con il Dott. S. Fratini) pagine 1-11
H.R.Varian, Microeconomia, Cafoscarina, settima edizione.

1. Introduction: Methods of economic analysis. Demand and supply. Price elasticity of demand. 2. Consumer theory: Preferences and utility. Consumer choice. Theory of demand. 3. Production theory: The production process. Costs minimization. Cost curves. 4. Market forms: Prefect competition. Monopolistic markets. Monopoly. Price discrimination. 5. Other topics: Game theory and strategic behavior. Risk and information. General equilibrium theory.

David A. Besanko e Ronald R. Braeutigam, Microeconomia, McGraw-Hill Education, 2016.
Further material will be provided during classes through the course web-site.

The first part of the course will introduce consumption and production theories. These theories are the fundamental components of equilibrium theory in perfectly and imperfectly competitive markets and in monopoly, and they will be analyzed in the second part of the course. The third and final part of the course will address issues such as the analysis of information asymmetries, externalities and public goods.

Frank R.H. e Cartwright E., Microeconomia, Mc Graw-Hill, 7a edizione, 2017.

descriptive statistics
variables and their measurement
univariate distributions
describing data with tables and graphs
measures of position
variability

bivariate descriptive statistics
independence, association, correlation

probability distributions for discrete and continuous variables
sampling distributions

Inference:
estimation
hypothesis test

A. Agresti, B. Finlay
Statistical methods for the social sciences

Pearson International Edition - 4th edition 2009
Introductory statistics for business and economics
Wonnacot - Wonnacot
John Wiley&sons; International 2 revised ed.

descriptive statistics
variables and their measurement
univariate distributions
describing data with tables and graphs
measures of position
variability

bivariate descriptive statistics
independence, association, correlation

probability distributions for discrete and continuous variables
sampling distributions

Inference:
estimation
hypothesis test

A. Agresti, B. Finlay
Statistical methods for the social sciences

Pearson International Edition - 4th edition 2009
Introductory statistics for business and economics
Wonnacot - Wonnacot
John Wiley&sons; International 2 revised ed.

Course Topics

This graduate level course covers the following topics:

An overview of statistics
Data description: scales of measurement, how to describe data graphically for categorical data (pie chart, bar chart) and graphs for quantitative variables (histogram, pie chart and time plot)
How to describe data by summary statistics: measures of central tendency and variability
How to create a box plot
How probability and probability distributions are involved in statistics
How binomial distributions are involved in statistics
The role that normal distributions play in statistics
Simple random sampling and sampling distribution of sample mean, central limit theorem, normal approximation to the binomial
Differentiation between a population and a sample, how to use a statistic to estimate a population parameter, confidence interval and its interpretation, inferences of population proportion, margin of error and sample size computation
Confidence interval for population mean, Sample size needed for estimating the population mean with a specified confidence level and specified width of the interval
Hypothesis testing: in terms of how to set up Null and Alternative hypotheses, understanding Type I and Type II errors, performing a statistical test for the population mean
How to compute power of a test and choosing the sample size for testing population mean
p-value, how to compute it and how to use it
Inferences about μ with σ unknown: the t-distribution and the assumptions required to check in order to use it
How to compare the mean of two populations for independent samples: using pooled variances t-test versus separate variances t-test
How to compare the mean of two populations for paired data
How to compare two population proportions
Using contingency table and the Chi-square test of independence
Understanding concepts related to linear regression models including, least squares method, correlation, inferences about the parameters in the linear regression model

Introductory Statistics for Business and Economics by Thomas H. Wonnacott and Ronald J. Wonnacott
John Wiley & Sons Inc; International 2 Revised ed
See also: http://host.uniroma3.it/docenti/mortera/statisticaNNO/statisticaNNO.htm

This graduate level course covers the following topics:
An overview of statistics
Data description: scales of measurement, how to describe data graphically for categorical data (pie chart, bar chart) and graphs for quantitative variables (histogram, pie chart)
How to describe data by summary statistics: measures of central tendency, variability and skewness.
How to create a box plot
How probability and probability distributions are involved in statistics
How binomial distributions are involved in statistics
The role that normal distributions play in statistics
Simple random sampling and sampling distribution of sample mean, central limit theorem, normal approximation to the binomial
Differentiation between a population and a sample, how to use a statistic to estimate a population parameter, confidence interval and its interpretation, inferences of population mean and proportion
Confidence interval for population mean, Sample size needed for estimating the population mean with a specified confidence level and specified width of the interval
Hypothesis testing: in terms of how to set up Null and Alternative hypotheses, understanding Type I and Type II errors, performing a statistical test for the population mean
p-value, how to compute it and how to use it
Inferences about μ with σ unknown: the t-distribution and the assumptions required to check in order to use it
How to compare the mean of two populations for independent samples: using pooled variances t-test versus separate variances t-test
How to compare the mean of two populations for paired data
How to compare two population proportions
Using contingency table and the Chi-square test of independence
Understanding concepts related to linear regression models including, least squares method, correlation, inferences about the parameters in the linear regression model

The course the course is taught in Italian so textbooks are in Italian:
- G. Cicchitelli, Statsitica: Principi e Metodi, Pearson Education, 3/Eds
- Sebastiani M. R. (2015) “Esercitazioni di statistica”. Esculapio Editore, 3° edizione.
For English speaking students a textbook is:
Introductory Statistics for Business and Economics by Thomas H. Wonnacott and Ronald J. Wonnacott
John Wiley & Sons Inc; International 2 Revised ed
Notes and handout (in Italian) are available at the web page of the course.

The theory of Financial Reporting
Introduction
The goal of Financial Reporting
Capital and Income
Traditional Italian Theories on Income and Financial Reporting
Second Part
Introduction to Italian Accounting Standards and Laws on Financial Reporting
Balance Sheet, Income Statement, Cash Flows Statements and the Notes
The objective of general purpose financial reporting: the true and fair view
The exceptions to the application of the laws
The qualitative characteristics of useful financial information
The assets and liabilities measurement:
- Plants and equipment;
- The Depreciation process;
- The Impairment process;
- Intangible Assets;
- Goodwill;
- Interests in parent companies;
- Receivables and payables (expressed in Euro and in foreign currencies);
- Stocks;
- Financial Activities and Financial Derivatives.
Third Part
Financial Reporting for listed public companies.
The International Harmonisation of Accounting Standards
The Conceptual Framework for Financial Reporting

Materials to download on the site

In addition, one of the following texts:
Capaldo P., Reddito, capitale e bilancio di esercizio: una introduzione, Giuffrè, 1998
Onida P .; Economia d’azienda, UTET, 1971
Zanda G, Il bilancio delle società, Lineamenti teorici e modelli di redazione, Giappichelli, 2007

First Part
The theory of Financial Reporting
Introduction
The goal of Financial Reporting
Capital and Income
Traditional Italian Theories on Income and Financial Reporting
Second Part
Introduction to Italian Accounting Standards and Laws on Financial Reporting
Balance Sheet, Income Statement, Cash Flows Statements and the Notes
The objective of general purpose financial reporting: the true and fair view
The exceptions to the application of the laws
The qualitative characteristics of useful financial information
The assets and liabilities measurement:
- Plants and equipment;
- The Depreciation process;
- The Impairment process;
- Intangible Assets;
- Goodwill;
- Interests in parent companies;
- Receivables and payables (expressed in Euro and in foreign currencies);
- Stocks;
- Financial Activities and Financial Derivatives.
Third Part
Financial Reporting for listed public companies.
The International Harmonisation of Accounting Standards
The Conceptual Framework for Financial Reporting

G. ZANDA, Il bilancio delle società, Giappichelli, Torino, 2007 and the Italian law n. 136/2015.

The course is composed by modules. The first two modules include the following legal categories: sources of law; subjective juridical situations; physical and juridical persons; legal assets, real rights in re propria and in re aliena; fact, act and trade; obligations; contracts in general. The third part focuses on the forms of transfer of familial property, with particular emphasis on the discipline of family law and mortis causa succession.

- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 3ª ed., Giappichelli, 2009
- F. MACIOCE, L’obbligazione e il contratto, 3ª ed., Giappichelli, 2013
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 4ª ed., Giappichelli, 2016 (excluding sec. from 6 to 12 Chap. III; Chap. VIII and Chap. X)

The course is composed by modules. The first two modules include the following legal categories: sources of law; subjective juridical situations; physical and juridical persons; legal assets, real rights in re propria and in re aliena; fact, act and trade; obligations; contracts in general. The third part focuses on the forms of transfer of familial property, with particular emphasis on the discipline of family law and mortis causa succession.

- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 3ª ed., Giappichelli, 2009
- F. MACIOCE, L’obbligazione e il contratto, 3ª ed., Giappichelli, 2013
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 4ª ed., Giappichelli, 2016 (excluding sec. from 6 to 12 Chap. III; Chap. VIII and Chap. X)

The course aims, first of all, to provide an overview of the role and the main functions of the financial system. The central part of the course is dedicated to an analysis of the technical characteristics and of the economic and management profiles of financial instruments and markets. Finally, the course presents the objectives as well as the organization and the behavioral models of financial intermediaries, also considering the role of regulation and supervision.
1. Real economy, financial system and financial intermediation
2. Theory of financial intermediation
3. Financial instruments
4. Financial markets
5. Banking
6. Investment services and asset management
7. Insurance
8. Payment systems
9. Risks in financial intermediation
10. Regulation and supervision
11. Monetary policy

Mishkin F.S., Eakins S.G. (2014), Financial Markets and Institutions, eighth edition, Pearson.

1. Financial system and financial intermediation
2. Theory of financial intermediation
3. Risks in financial intermediation
4. Financial instruments
5. Financial markets
6. Banking
7. Investment services and asset management
8. Insurance
9. Regulation
10. Re-regulation and supervision
11. Monetary policy
12. Payment systems

Nadotti, Porzio, Previati. Economia degli intermediari finanziari. McGraw-Hill, ultima edizione

The course analyzes the main characteristics of business management and it is divided into didactic modules.
Themes related to enterprises and entrepreneurial aims (The enterprise and its role; The enterprise and its environment )are studied in depth in the first module. Business strategies and business development paths (Business strategy management; Competitive strategies and market analysis models; business development strategies) are analyzed in the second module. In the third module business functions and business operations management, with reference in particular to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications) are studied in depth.

Sciarelli S., (2017) La gestione dell'impresa. Tra teoria e pratica aziendale, CEDAM;
Additional compulsory didactic material will be published on the course web page of the “Dipartimento di Economia Aziendale” website.

The course analyzes the main characteristics of business management and it is divided into didactic modules.
Themes related to enterprises and entrepreneurial aims (The enterprise and its role; The enterprise and its environment )are studied in depth in the first module. Business strategies and business development paths (Business strategy management; Competitive strategies and market analysis models; business development strategies) are analyzed in the second module. In the third module business functions and business operations management, with reference in particular to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications) are studied in depth.

Sciarelli S., (2017) La gestione dell'impresa. Tra teoria e pratica aziendale, CEDAM;
Additional compulsory didactic material will be published on the course web page of the “Dipartimento di Economia Aziendale” website.

The course analyzes the main characteristics of business management and it is divided into didactic modules.
Themes related to enterprises and entrepreneurial aims (The enterprise and its role; The enterprise and its environment )are studied in depth in the first module. Business strategies and business development paths (Business strategy management; Competitive strategies and market analysis models; business development strategies) are analyzed in the second module. In the third module business functions and business operations management, with reference in particular to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications) are studied in depth.

Sciarelli S., (2017) La gestione dell'impresa. Tra teoria e pratica aziendale, CEDAM;
Additional compulsory didactic material will be published on the course web page of the “Dipartimento di Economia Aziendale” website.

1. PRELIMINARY CONCEPTS Money, time and risks. Present and future value, principal and interest. Contracts, exchange, prices. The risks.

2. FOUNDATIONS OF FINANCIAL CONTRACTS EVALUATION
2.1 EVALUATION IN CERTAINTY CONDITIONS Financial laws in certainty conditions. The exponential law. Annuities and mortgages. Internal rate of return on a financial transaction. Theory of financial equivalence laws.
2.2 FINANCIAL OPERATIONS IN THE MARKET. Value function and market price. The term structure. Duration indices and variability indices. Arbitrage valuations of floating rate notes. Interest Rate Swap. Term structure measurement. Term structure evolution. Introduction to financial options. Basic elements on equity options. Basic elements on traditional life insurance contracts.

David G. Luenberger
Investment Science
Oxford University Press (any edition)

Annamaria Olivieri, Ermanno Pitacco
Introduction to Insurance Mathematics
Springer, 2011

1. PRELIMINARY CONCEPTS Money, time and risks. Present and future value, principal and interest. Contracts, exchange, prices. The risks.

2. FOUNDATIONS OF FINANCIAL CONTRACTS VALUATION

2.1 VALUATION IN CERTAINTY CONDITIONS Financial laws under certainty conditions. The exponential law. Annuities and mortgages. Internal rate of return of a financial transaction. Theory of financial laws.

2.2 FINANCIAL OPERATIONS IN THE MARKET. Value function and market price. The term structure. Duration indices and variability indices. Arbitrage valuation of floating rate notes. Interest Rate Swap. Term structure measurement. Term structure evolution. Introduction to financial options. Basic elements on equity options. Basic elements on traditional life insurance contracts.

David G. Luenberger
Investment Science
Oxford University Press (any edition)

Annamaria Olivieri, Ermanno Pitacco
Introduction to Insurance Mathematics
Springer, 2011

The course, articulated in a single module, will cover the following topics:
1. The entrepreneur (of any kind).
2. The rules set forth for the commercial enterprises.
2. Companies and other business organizations.
4. The joint-stock company and the limited partnership by shares.
5. Transformation, merger and spin-off.
6. The co-operative companies, the consortia and the joint-ventures.
7. Entrepreneur’s auxiliaries; the establishment.
8. Debt securities and promissory notes.
9. Bankruptcy (general principles).

V. Buonocore (conceived by), Manuale di diritto commerciale, Torino, Giappichelli, last edition:
part I (excluding cap. III, VI e VII);
part II;
part V, sez. I e sez. II, parag. 1 e parag. 2;
part VI, sez. I.
It’s recommended studying the subject with an updated Civil Code, comprehensive of connected laws.

The course, articulated in a single module, will cover the following topics:
1. The entrepreneur (of any kind).
2. The rules set forth for the commercial enterprises.
2. Companies and other business organizations.
4. The joint-stock company and the limited partnership by shares.
5. Transformation, merger and spin-off.
6. The co-operative companies, the consortia and the joint-ventures.
7. Entrepreneur’s auxiliaries; the establishment.
8. Debt securities and promissory notes.
9. Bankruptcy (general principles).

V. Buonocore (conceived by), Manuale di diritto commerciale, Torino, Giappichelli, last edition:
part I (excluding cap. III, VI e VII);
part II;
part V, sez. I e sez. II, parag. 1 e parag. 2;
part VI, sez. I.
It’s recommended studying the subject with an updated Civil Code, comprehensive of connected laws.

Three modules are scheduled.
Module I –Accounting, Basic
Review of basic corporate financial reports and disclosures that serve as inputs to valuation analysis.
Module II – Financial Statement Analysis
Analysis of financial ratios to measure financial risks and returns; analysis of financial disclosures to identify red flags of potential distress or earnings manipulation;
Module III – Firm Valuation, Basics
Valuation issues with taxes, intangibles and financial investments; developing cash flow forecasts; and integrating the above tools and techniques to determine the valuation of a firm equity.
Students will learn common valuation methods such as discounted cash flow analysis and earnings based valuation, and also learn to use other approaches used in the valuation industry such the use of valuation multiples and comparable transactions analysis.
Examples from court cases involving valuation disputes will be adopted to illustrate practical valuation problems.

Course material
_ E-Book to download from course website

Key reading list
_ Sutton T (last edition), Corporate Financial Accounting & Reporting, Prentice Hall
_ Damodaran A. (last edition), Damodaran on Valuation: Security Analysis for Investment and Corporate Finance, Wiley Finance

Introduction: the preparation of the financial statements
Part One. The business analysis: indexes and flows
First Section. The financial statement ratio analysis
The logical and accounting process of the financial statements.
The financial statements: the purpose of ratio analysis
The reinterpretation of the balance sheet for the purpose of financial analysis / balance sheet
The reinterpretation of the income statement to profitability analysis purposes
The asset analysis of the aspect: the organic framework of the quotients of capital structure
The financial analysis of the aspect: the organic framework of financial ratios
The profitability analysis: the organic framework of the income ratios
The weighted ratios
Section Two. The analysis of financial flows
The funds flow
The statement of changes in total financial resources
The cash flow statement of changes in net working capital
The financial statements of the liquidity fluctuations

Part Two - The economic capital
Purposes and subject positions in the company's assessments
Direct methods of evaluation of the economic capital
Theoretical indirect methods of estimating
The simplified income methods
The balance sheet methods
The mixed evaluation 'methods'
Application

Recommended reading
Introduction: F. Manni, Lineamenti di ragioneria generale, Giappichelli.

Part One:

G. Ferrero – F. Dezzani – P. Pisoni – L. Puddu, Le analisi di bilancio – indici e flussi, Giuffrè.
Part Two:
G. Zanda. - M. Lacchini - T. Onesti, La valutazione delle aziende, Giappichelli.

F. Manni – A. Faccia, Introduction to accounting, ARACNE, Roma, 2015.
F. Manni – A. Faccia, Cash flow Analysis and Case Studies, ARACNE, 2016.

GENERAL

The notion of tax and the classification of taxes
The tax law
The sources of tax law
The integrity of the norm in time and space
The interpretation of the tax law
The constitutional principles
Abuse of tax law and tax avoidance
The tax report and its subjects
Instrumental obligations
The investigation
The assessment
Collection
The refund
Sanctions
Jurisdictional protection


SPECIAL

The star system in Italy
The income tax
The IRES
The IRAP
The registration tax
Inheritance and gift tax
The IMU

F. TESAURO, Compendio di diritto tributario, Utet, Torino, latest edition available.

GENERAL MATHEMATICS PROGRAM a.a 2019-2020
I CHANNEL

1) Logic, sets and numerical sets
Propositional logic. Propositions. Decidable propositions. Logical operations between propositions. Logical implication. Necessity, sufficiency and necessity and sufficiency. Truth tables. Theorem. Methods for proving a theorem. Sets. Operations between sets. Numerical sets:
natural numbers, relative numbers and rational numbers. Infimum and supremum of a numerical set. Irrationality of square root of 2 (with proof). Dedekind's axiom. The real numbers set. Real numbers and their representation on the straight line. Limited and non-limited sets. Maximum and minimum of a numerical set. Intervals and boundary of a point. Elements of line topology: isolated, boundary, internal and accumulation points. Open sets. Closed sets. A set is closed if and only if it contains all its accumulation points.
2) Sums
Definition of summation. Sum of the first natural n (with proof). Sum of the first n terms of a geometric progression (with proof). Summation properties.
3) Real functions of real variable
Real functions of real variable. The Cartesian plane and the graph of a function. Injective and surjective functions. Invertible functions. Even and odd functions. Increasing and decreasing functions. Link between monotony and injectivity. Inverse function. Inverse function graph. Elementary functions. Transformations of elementary functions. Compound function. Multi-law defined functions. Domain of a function.
4) Sequences and numerical series
Converging, diverging and indeterminate sequences. Limits of sequences. Definition of numerical series. Necessary condition for convergence
of a series (with proof). The character of the geometric series (with proof). Mengoli series and its value (with proof).
5) Limits of real functions of real variable
Definition of limits. Right-hand limit and left-hand limit. Vertical and horizontal asymptote. Oblique asymptote. Theorem on uniqueness of limit. (with proof). Theorems on sign permanence (with proof). Rational operations on limits. Indeterminate forms. Notable limits.
6) Infinites and infinitesimals
Definition of infinitesimal and infinite. Comparison between infinitesimal and infinite. Order of infinitesimal and infinite. Cancellation theorems (with proof). Order propagation.
7) Continuity
Definition of continuity in a point. Continuity in a set. Classification of discontinuity points. Continuity of elementary functions. Continuity
of the compound function. Continuity of functions defined by several laws. Theorem of zeros for continuous functions. Weierstrass's theorem. Darboux's theorem (with proof).
8) Differential calculus
Difference quotient. Derivative of a function in a point and its geometric meaning. Derivability implies continuity (with proof). Points of non-derivability.
Derivative function and derivatives of subsequent order. Derivative of elementary functions. The rules of derivation. Derivative of compound functions. De L’Hopital's theorem and its application to indeterminate forms. Taylor polynomial of order 1 and order 2 (with proof). The factorial of n. Taylor polynomial
of order n. Mc Laurin polynomial. Differential and its geometric meaning. First-order error theorem (with proof). Local maxima and minima. Fermat's theorem (with proof). Rolle's theorem (with proof). Lagrange's theorem (with proof). Corollaries to Lagrange's theorem (with proof). Relationship between the sign of the first derivative and the increasing / decreasing functions in an interval (with proof). Concavity and convexity in a point. Relationship between the sign of the second derivative and the convexity / concavity of a function in an interval (with proof). Flex points. Global concavity and convexity conditions.
9) Integral calculus
Primitive of a function. Indefinite integral. Properties of primitives (with proof). Property of the indefinite integral. Immediate indefinite integrals. Integration by parts (with proof). Area subtended by a curve. Superior and inferior integral sum. Definition of definited Riemann integral. Property
of the definite integral. Integral function. The integral mean value theorem (with proof). Torricelli-Barrow's theorem (with proof). Corollary to Torricelli-Barrow's theorem (with proof).
10) Linear algebra
Vectors and their geometric representation. Product of a vector for a scalar. Vectors addition. The vector space Rn: Linear combination of
vectors. Linearly dependent and independent vectors. Matrices. Matrix addition. Matrix multiplication. Determinant of a matrix. Matrix
inverse. Uniqueness of the inverse matrix (with proof). Necessary condition for the existence of the inverse matrix (with proof). Sufficient condition for the existence of the inverse matrix. Transposed matrix. Rank of a matrix. Linear equation systems. Cramer's theorem. Rouché-Capelli theorem. Homogeneous systems. Parametric systems

Testi adottati:

EN: Carl P. Simon, Lawrence Blume, Mathematics for economists, W.W. Norton and Company, 2010.
Only: Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Appendix 4.
http://disa.uniroma3.it/didattica/lauree-triennali/matematica-generale-n-o-ii-canale-d-k/

1) Logic, sets and numerical sets
Propositional logic. Propositions. Decidable propositions. Logical operations between propositions. Logical implication. Necessity, sufficiency and necessity and sufficiency. Truth tables. Theorem. Methods for proving a theorem. Sets. Operations between sets. Numerical sets:
natural numbers, relative numbers and rational numbers. Infimum and supremum of a numerical set. Irrationality of square root of 2 (with proof). Dedekind's axiom. The real numbers set. Real numbers and their representation on the straight line. Limited and non-limited sets. Maximum and minimum of a numerical set. Intervals and boundary of a point. Elements of line topology: isolated, boundary, internal and accumulation points. Open sets. Closed sets. A set is closed if and only if it contains all its accumulation points.
2) Sums
Definition of summation. Sum of the first natural n (with proof). Sum of the first n terms of a geometric progression (with proof). Summation properties.
3) Real functions of real variable
Real functions of real variable. The Cartesian plane and the graph of a function. Injective and surjective functions. Invertible functions. Even and odd functions. Increasing and decreasing functions. Link between monotony and injectivity. Inverse function. Inverse function graph. Elementary functions. Transformations of elementary functions. Compound function. Multi-law defined functions. Domain of a function.
4) Sequences and numerical series
Converging, diverging and indeterminate sequences. Limits of sequences. Definition of numerical series. Necessary condition for convergence
of a series (with proof). The character of the geometric series (with proof). Mengoli series and its value (with proof).
5) Limits of real functions of real variable
Definition of limits. Right-hand limit and left-hand limit. Vertical and horizontal asymptote. Oblique asymptote. Theorem on uniqueness of limit. (with proof). Theorems on sign permanence (with proof). Rational operations on limits. Indeterminate forms. Notable limits.
6) Infinites and infinitesimals
Definition of infinitesimal and infinite. Comparison between infinitesimal and infinite. Order of infinitesimal and infinite. Cancellation theorems (with proof). Order propagation.
7) Continuity
Definition of continuity in a point. Continuity in a set. Classification of discontinuity points. Continuity of elementary functions. Continuity
of the compound function. Continuity of functions defined by several laws. Theorem of zeros for continuous functions. Weierstrass's theorem. Darboux's theorem (with proof).
8) Differential calculus
Difference quotient. Derivative of a function in a point and its geometric meaning. Derivability implies continuity (with proof). Points of non-derivability.
Derivative function and derivatives of subsequent order. Derivative of elementary functions. The rules of derivation. Derivative of compound functions. De L’Hopital's theorem and its application to indeterminate forms. Taylor polynomial of order 1 and order 2 (with proof). The factorial of n. Taylor polynomial
of order n. Mc Laurin polynomial. Differential and its geometric meaning. First-order error theorem (with proof). Local maxima and minima. Fermat's theorem (with proof). Rolle's theorem (with proof). Lagrange's theorem (with proof). Corollaries to Lagrange's theorem (with proof). Relationship between the sign of the first derivative and the increasing / decreasing functions in an interval (with proof). Concavity and convexity in a point. Relationship between the sign of the second derivative and the convexity / concavity of a function in an interval (with proof). Flex points. Global concavity and convexity conditions.
9) Integral calculus
Primitive of a function. Indefinite integral. Properties of primitives (with proof). Property of the indefinite integral. Immediate indefinite integrals. Integration by parts (with proof). Area subtended by a curve. Superior and inferior integral sum. Definition of definited Riemann integral. Property
of the definite integral. Integral function. The integral mean value theorem (with proof). Torricelli-Barrow's theorem (with proof). Corollary to Torricelli-Barrow's theorem (with proof).
10) Linear algebra
Vectors and their geometric representation. Product of a vector for a scalar. Vectors addition. The vector space Rn: Linear combination of
vectors. Linearly dependent and independent vectors. Matrices. Matrix addition. Matrix multiplication. Determinant of a matrix. Matrix
inverse. Uniqueness of the inverse matrix (with proof). Necessary condition for the existence of the inverse matrix (with proof). Sufficient condition for the existence of the inverse matrix. Transposed matrix. Rank of a matrix. Linear equation systems. Cramer's theorem. Rouché-Capelli theorem. Homogeneous systems. Parametric systems

Mathematics for economists Carl P. Simon, Lawrence Blume- W.W. Norton and Company, Inc.
Only:Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Appendix 4 .

1) Logic, sets and numerical sets
Propositional logic. Propositions. Decidable propositions. Logical operations between propositions. Logical implication. Necessity, sufficiency and necessity and sufficiency. Truth tables. Theorem. Methods for proving a theorem. Sets. Operations between sets. Numerical sets:
natural numbers, relative numbers and rational numbers. Infimum and supremum of a numerical set. Irrationality of square root of 2 (with proof). Dedekind's axiom. The real numbers set. Real numbers and their representation on the straight line. Limited and non-limited sets. Maximum and minimum of a numerical set. Intervals and boundary of a point. Elements of line topology: isolated, boundary, internal and accumulation points. Open sets. Closed sets. A set is closed if and only if it contains all its accumulation points.
2) Sums
Definition of summation. Sum of the first natural n (with proof). Sum of the first n terms of a geometric progression (with proof). Summation properties.
3) Real functions of real variable
Real functions of real variable. The Cartesian plane and the graph of a function. Injective and surjective functions. Invertible functions. Even and odd functions. Increasing and decreasing functions. Link between monotony and injectivity. Inverse function. Inverse function graph. Elementary functions. Transformations of elementary functions. Compound function. Multi-law defined functions. Domain of a function.
4) Sequences and numerical series
Converging, diverging and indeterminate sequences. Limits of sequences. Definition of numerical series. Necessary condition for convergence
of a series (with proof). The character of the geometric series (with proof). Mengoli series and its value (with proof).
5) Limits of real functions of real variable
Definition of limits. Right-hand limit and left-hand limit. Vertical and horizontal asymptote. Oblique asymptote. Theorem on uniqueness of limit. (with proof). Theorems on sign permanence (with proof). Rational operations on limits. Indeterminate forms. Notable limits.
6) Infinites and infinitesimals
Definition of infinitesimal and infinite. Comparison between infinitesimal and infinite. Order of infinitesimal and infinite. Cancellation theorems (with proof). Order propagation.
7) Continuity
Definition of continuity in a point. Continuity in a set. Classification of discontinuity points. Continuity of elementary functions. Continuity
of the compound function. Continuity of functions defined by several laws. Theorem of zeros for continuous functions. Weierstrass's theorem. Darboux's theorem (with proof).
8) Differential calculus
Difference quotient. Derivative of a function in a point and its geometric meaning. Derivability implies continuity (with proof). Points of non-derivability.
Derivative function and derivatives of subsequent order. Derivative of elementary functions. The rules of derivation. Derivative of compound functions. De L’Hopital's theorem and its application to indeterminate forms. Taylor polynomial of order 1 and order 2 (with proof). The factorial of n. Taylor polynomial
of order n. Mc Laurin polynomial. Differential and its geometric meaning. First-order error theorem (with proof). Local maxima and minima. Fermat's theorem (with proof). Rolle's theorem (with proof). Lagrange's theorem (with proof). Corollaries to Lagrange's theorem (with proof). Relationship between the sign of the first derivative and the increasing / decreasing functions in an interval (with proof). Concavity and convexity in a point. Relationship between the sign of the second derivative and the convexity / concavity of a function in an interval (with proof). Flex points. Global concavity and convexity conditions.
9) Integral calculus
Primitive of a function. Indefinite integral. Properties of primitives (with proof). Property of the indefinite integral. Immediate indefinite integrals. Integration by parts (with proof). Area subtended by a curve. Superior and inferior integral sum. Definition of definited Riemann integral. Property
of the definite integral. Integral function. The integral mean value theorem (with proof). Torricelli-Barrow's theorem (with proof). Corollary to Torricelli-Barrow's theorem (with proof).
10) Linear algebra
Vectors and their geometric representation. Product of a vector for a scalar. Vectors addition. The vector space Rn: Linear combination of
vectors. Linearly dependent and independent vectors. Matrices. Matrix addition. Matrix multiplication. Determinant of a matrix. Matrix
inverse. Uniqueness of the inverse matrix (with proof). Necessary condition for the existence of the inverse matrix (with proof). Sufficient condition for the existence of the inverse matrix. Transposed matrix. Rank of a matrix. Linear equation systems. Cramer's theorem. Rouché-Capelli theorem. Homogeneous systems. Parametric systems.

Carl P. Simon, Lawrence Blume, Mathematics for economists, W.W. Norton and Company, 2010.
Only: Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Appendix 4.

1. The Economic system. Definitions and measurement of the main macroeconomic aggregates
2. Macroeconomic equilibrium and the Keynesian theory of income and employment
3.The public sector
4. The open economy: balance of payments, exchange rate, external constraint
5. Money and financial activities. The Central Bank and the banking sector, Demand and supply of money, interest rate determination.
6. Aggregate investment and the rate of interest. Controversial aspects.
7. The IS-LM model. Economic policy in the IS-LM model in a closed economy. Effects of changes in nominal wages
8. The IS-LM model for the open economy, exchange rate regimes and the effects of economic policy
9.The AD-AS model and its implications for the theory of output and employment
10. Inflation and unemployment some elements towards an interpretation

C. De Vincenti, MACROECONOMIA - ELEMENTI DI BASE, editore Carocci, 2003 (except parr 9.5 e 9.6 and chapt. 10) + macroeconomics hand-outs by prof. Antonella Stirati available at the library

The course consists of three modules
First module:
• National Accounts
• Aggregate demand. Income multipliers
• The IS-LM model

Second module:
• Aggregate demand in an open economy
• The IS-LM model in an open economy

Third module:
• The labour market
• The AD-AS model
• The natural rate of unemployment and the Phillips curve
• Inflation, production and money growth. The quantity theory of money
• Introduction to growth models

O. Blanchard, F. Giavazzi, A Amighini
Macroeconomics
Pearson, 2017

Introduction
- What is Macroeconomics
- Some elements of the System of National Accounts

Part 1: The Short Run
- The Goods Market
- Financial Markets
- The IS-LM Model

Part 2: The Medium Run
- The Labor Market
- The Phillips Curve, the Natural Rate of Unemployment, and Inflation
- The IS-LM-PC Model

Part 3: Extensions
- Introduction to the theory of economic growth
- The open economy and the Exchange Rate Regimes

- Olivier Blanchard "Macroeconomics". 7th edition Pearson

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS
First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.
Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises: Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018


Alternatively:

David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS

First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.

Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises:
Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018

Alternatively:
David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS
First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.
Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises: Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018


Alternatively:

David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS

First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.

Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises:
Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018

Alternatively:
David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

First part: BUSINESS ADMINISTRATION
1) Business Economics and Accounting. General company characters. The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk. Income and profitability. Social responsibility and sustainability. The process of dimensional growth of companies: the main characteristics, nature, structure, internal exchange and production operations in groups of companies.
3) Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.

Second part: ACCRUAL ACCOUNTING
Double-entry theory and method. The double-entry method applied to the income system in production companies. The accounting records of the incorporation operations and of the main operations. The accounts for closing and reopening the accounts.

Part I
ZANDA, Lineamenti di Economia Aziendale, Edizioni Kappa, Roma, 2006;
Part II
T.ONESTI et al. (a cura di), Esercitazioni di economia aziendale, Giappichelli, Torino, 2013 (ebook).

During the lessons, the teacher will provide additional support material through the website of the chair: https://onestieconomiaaziendale.wordpress.com/

Part I: The Economy of the Company: Business Economics and Accounting. The study of the conditions of existence of the corporate body; the personal component and the operating means of the company. Object of the company. Corporate subjects: "legal entities" and "economic subject". Organization. The organizational structures. Various types of company. The institution of the company, its location, its size.
The supply company: general characteristics and management schemes. Production companies for the exchange of goods and services: companies. The aims of the company. The economic balance as a fundamental condition of the life of the company. Economic balance and economy. The possible ways of remunerating the productive factors used by the company. The business risk and the subjects on which it weighs. Business efficiency. The process of forming the company's income. The capital requirement and its determination. Company financing: equity and credit capital in their various forms; corporate self-financing; the choice of convenient forms of financing; the dynamic relationship between equity and credit capital. The financial structure of the company.
The process of dimensional growth of companies: the main characteristics, nature, structure, internal exchange and production operations in groups of companies.
Part II: Accounting elements: Double-entry theory and method. The double-entry method applied to the income system in production companies. The accounting records of the incorporation operations and of the main operations. The accounts for closing and reopening the accounts.

Zanda, Fondamenti di Economia Aziendale, Giappichelli, ultima edizione
oppure
Zanda, Lineamenti di Economia Aziendale, Kappa, ultima edizione

L. MUSERRA, T.ONESTI, Esercitazioni di economia aziendale, Giappichelli, 2013 (ebook, available on the website giappichelli.it).
Please refer to the onestieconomiaaziendale.wordpress.com course page for course material.

Structure of the computer. Hardware and Software. General diagram of a data processing system. Type of computers. The use of the computer memories. The processor. The multiprocessor architectures. Input / Output: Ports for input / output of the computer. The units of input. The units of output. Operating systems. Characteristics of the operating systems. The multitasking operating systems. The Windows operating system. The graphical interface. Computer networks. The communication between computers. Protocols and interfaces. The local networks. The transmission media. The types of network. The wide area networks. Internetwork. Internet. The services of the Internet.
Spreadsheet, Word processing and presentation tools.

ECDL Syllabus 5.0 - La guida McGraw- Hill alla Patente Europea del Computer

The course of public law is divided into two modules.
The I Module deals with the following topics: theory of social groups; the social system groups; the structure of the legal system; power and its species; the techniques of dividing power; the forms of exercising power: the legal norm and the provision; subjects; interests; the goods; subjective legal situations; legal facts; human behavior; the legal effects; the responsability; the ordering levels of governance (international, European Community, state, local); the organization of public powers; public functions (political address, standardization, administration, jurisdiction).
The second module deals with the Italian legal system and the regulatory principles of its political, legislative, administrative and judicial activities.

Educational materials
During the course will be available educational materials for explanatory and exercise on the site of the Departments in the appropriate spaces reserved for the purpose as well as on the fb page of the subject.
Bibliography
For the preparation of the first and second modules, we recommend the study of a manual chosen from the following:A. MELONCELLI, Manuale di diritto pubblico, Milano, Giuffrè, ult. ed.
R. BIN – G. PITRUZZELLA, Diritto pubblico, Torino, Giappichelli, ult. ed.
C. ROSSANO, Manuale di Diritto pubblico, Napoli, Jovene, ult. ed.
P. CARETTI – U. DE SIERVO, Istituzioni di Diritto pubblico, Torino, Giappichelli, ult. ed.

The course of public law is divided into two modules.
The I Module deals with the following topics: theory of social groups; the social system groups; the structure of the legal system; power and its species; the techniques of dividing power; the forms of exercising power: the legal norm and the provision; subjects; interests; the goods; subjective legal situations; legal facts; human behavior; the legal effects; the responsability; the ordering levels of governance (international, European Community, state, local); the organization of public powers; public functions (political address, standardization, administration, jurisdiction).
The second module deals with the Italian legal system and the regulatory principles of its political, legislative, administrative and judicial activities.

Educational materials
During the course will be available educational materials for explanatory and exercise on the site of the Departments in the appropriate spaces reserved for the purpose as well as on the fb page of the subject.
Bibliography
For the preparation of the first and second modules, we recommend the study of a manual chosen from the following:A. MELONCELLI, Manuale di diritto pubblico, Milano, Giuffrè, ult. ed.
R. BIN – G. PITRUZZELLA, Diritto pubblico, Torino, Giappichelli, ult. ed.
C. ROSSANO, Manuale di Diritto pubblico, Napoli, Jovene, ult. ed.
P. CARETTI – U. DE SIERVO, Istituzioni di Diritto pubblico, Torino, Giappichelli, ult. ed.

The course of public law is divided into two modules.
The I Module deals with the following topics: theory of social groups; the social system groups; the structure of the legal system; power and its species; the techniques of dividing power; the forms of exercising power: the legal norm and the provision; subjects; interests; the goods; subjective legal situations; legal facts; human behavior; the legal effects; the responsability; the ordering levels of governance (international, European Community, state, local); the organization of public powers; public functions (political address, standardization, administration, jurisdiction).
The second module deals with the Italian legal system and the regulatory principles of its political, legislative, administrative and judicial activities.

Educational materials
During the course will be available educational materials for explanatory and exercise on the site of the Departments in the appropriate spaces reserved for the purpose as well as on the fb page of the subject.
Bibliography
For the preparation of the first and second modules, we recommend the study of a manual chosen from the following:A. MELONCELLI, Manuale di diritto pubblico, Milano, Giuffrè, ult. ed.
R. BIN – G. PITRUZZELLA, Diritto pubblico, Torino, Giappichelli, ult. ed.
C. ROSSANO, Manuale di Diritto pubblico, Napoli, Jovene, ult. ed.
P. CARETTI – U. DE SIERVO, Istituzioni di Diritto pubblico, Torino, Giappichelli, ult. ed.

MICROECONOMICS
Prof. A. Trezzini

The Microeconomics course deals with the part of the economic analysis that has as its object the determination of the exchange value of individual goods, as well as the related problem of income distribution.
In the first part of the course the fundamental elements concerning the single productive processes and their mutual relations are exposed.
The second part of the course considers how the problem of the exchange value of goods and the distribution of the product has been dealt with within the theoretical framework of classical economists.
The third part of the course examines the basic elements of the marginalist microeconomics. The theory of production and firms in perfect competition and the theory of consumer and exchange are analysed.
The fourth part of the course is dedicated to theories of firm and individual industry in monopoly and oligopolistic conditions.
A fifth concluding part will be dedicated to a comparison between the two alternative approaches to the problems of value and distribution: the classic one and the marginalist one.

Dispensa n.1 Elementi di teoria della produzione (materiale didattico redatto dal Prof. R: Ciccone in collaborazione con il Dott. Trezzini)
Dispensa n.2 La teoria classica della distribuzione e dei prezzi relativi (materiale didattico redatto dal Prof. R: Ciccone in collaborazione con il Dott. Trezzini) compresa l'Appendice A ed esclusa l'Appendice B.
Dispensa n.3 La teoria marginalista della distribuzione e dei prezzi relativi (materiale didattico redatto dal Prof. R: Ciccone in collaborazione con il Dott. S. Fratini) pagine 1-11
H.R.Varian, Microeconomia, Cafoscarina, settima edizione.

1. Introduction: Methods of economic analysis. Demand and supply. Price elasticity of demand. 2. Consumer theory: Preferences and utility. Consumer choice. Theory of demand. 3. Production theory: The production process. Costs minimization. Cost curves. 4. Market forms: Prefect competition. Monopolistic markets. Monopoly. Price discrimination. 5. Other topics: Game theory and strategic behavior. Risk and information. General equilibrium theory.

David A. Besanko e Ronald R. Braeutigam, Microeconomia, McGraw-Hill Education, 2016.
Further material will be provided during classes through the course web-site.

The first part of the course will introduce consumption and production theories. These theories are the fundamental components of equilibrium theory in perfectly and imperfectly competitive markets and in monopoly, and they will be analyzed in the second part of the course. The third and final part of the course will address issues such as the analysis of information asymmetries, externalities and public goods.

Frank R.H. e Cartwright E., Microeconomia, Mc Graw-Hill, 7a edizione, 2017.

descriptive statistics
variables and their measurement
univariate distributions
describing data with tables and graphs
measures of position
variability

bivariate descriptive statistics
independence, association, correlation

probability distributions for discrete and continuous variables
sampling distributions

Inference:
estimation
hypothesis test

A. Agresti, B. Finlay
Statistical methods for the social sciences

Pearson International Edition - 4th edition 2009
Introductory statistics for business and economics
Wonnacot - Wonnacot
John Wiley&sons; International 2 revised ed.

descriptive statistics
variables and their measurement
univariate distributions
describing data with tables and graphs
measures of position
variability

bivariate descriptive statistics
independence, association, correlation

probability distributions for discrete and continuous variables
sampling distributions

Inference:
estimation
hypothesis test

A. Agresti, B. Finlay
Statistical methods for the social sciences

Pearson International Edition - 4th edition 2009
Introductory statistics for business and economics
Wonnacot - Wonnacot
John Wiley&sons; International 2 revised ed.

Course Topics

This graduate level course covers the following topics:

An overview of statistics
Data description: scales of measurement, how to describe data graphically for categorical data (pie chart, bar chart) and graphs for quantitative variables (histogram, pie chart and time plot)
How to describe data by summary statistics: measures of central tendency and variability
How to create a box plot
How probability and probability distributions are involved in statistics
How binomial distributions are involved in statistics
The role that normal distributions play in statistics
Simple random sampling and sampling distribution of sample mean, central limit theorem, normal approximation to the binomial
Differentiation between a population and a sample, how to use a statistic to estimate a population parameter, confidence interval and its interpretation, inferences of population proportion, margin of error and sample size computation
Confidence interval for population mean, Sample size needed for estimating the population mean with a specified confidence level and specified width of the interval
Hypothesis testing: in terms of how to set up Null and Alternative hypotheses, understanding Type I and Type II errors, performing a statistical test for the population mean
How to compute power of a test and choosing the sample size for testing population mean
p-value, how to compute it and how to use it
Inferences about μ with σ unknown: the t-distribution and the assumptions required to check in order to use it
How to compare the mean of two populations for independent samples: using pooled variances t-test versus separate variances t-test
How to compare the mean of two populations for paired data
How to compare two population proportions
Using contingency table and the Chi-square test of independence
Understanding concepts related to linear regression models including, least squares method, correlation, inferences about the parameters in the linear regression model

Introductory Statistics for Business and Economics by Thomas H. Wonnacott and Ronald J. Wonnacott
John Wiley & Sons Inc; International 2 Revised ed
See also: http://host.uniroma3.it/docenti/mortera/statisticaNNO/statisticaNNO.htm

This graduate level course covers the following topics:
An overview of statistics
Data description: scales of measurement, how to describe data graphically for categorical data (pie chart, bar chart) and graphs for quantitative variables (histogram, pie chart)
How to describe data by summary statistics: measures of central tendency, variability and skewness.
How to create a box plot
How probability and probability distributions are involved in statistics
How binomial distributions are involved in statistics
The role that normal distributions play in statistics
Simple random sampling and sampling distribution of sample mean, central limit theorem, normal approximation to the binomial
Differentiation between a population and a sample, how to use a statistic to estimate a population parameter, confidence interval and its interpretation, inferences of population mean and proportion
Confidence interval for population mean, Sample size needed for estimating the population mean with a specified confidence level and specified width of the interval
Hypothesis testing: in terms of how to set up Null and Alternative hypotheses, understanding Type I and Type II errors, performing a statistical test for the population mean
p-value, how to compute it and how to use it
Inferences about μ with σ unknown: the t-distribution and the assumptions required to check in order to use it
How to compare the mean of two populations for independent samples: using pooled variances t-test versus separate variances t-test
How to compare the mean of two populations for paired data
How to compare two population proportions
Using contingency table and the Chi-square test of independence
Understanding concepts related to linear regression models including, least squares method, correlation, inferences about the parameters in the linear regression model

The course the course is taught in Italian so textbooks are in Italian:
- G. Cicchitelli, Statsitica: Principi e Metodi, Pearson Education, 3/Eds
- Sebastiani M. R. (2015) “Esercitazioni di statistica”. Esculapio Editore, 3° edizione.
For English speaking students a textbook is:
Introductory Statistics for Business and Economics by Thomas H. Wonnacott and Ronald J. Wonnacott
John Wiley & Sons Inc; International 2 Revised ed
Notes and handout (in Italian) are available at the web page of the course.

The theory of Financial Reporting
Introduction
The goal of Financial Reporting
Capital and Income
Traditional Italian Theories on Income and Financial Reporting
Second Part
Introduction to Italian Accounting Standards and Laws on Financial Reporting
Balance Sheet, Income Statement, Cash Flows Statements and the Notes
The objective of general purpose financial reporting: the true and fair view
The exceptions to the application of the laws
The qualitative characteristics of useful financial information
The assets and liabilities measurement:
- Plants and equipment;
- The Depreciation process;
- The Impairment process;
- Intangible Assets;
- Goodwill;
- Interests in parent companies;
- Receivables and payables (expressed in Euro and in foreign currencies);
- Stocks;
- Financial Activities and Financial Derivatives.
Third Part
Financial Reporting for listed public companies.
The International Harmonisation of Accounting Standards
The Conceptual Framework for Financial Reporting

Materials to download on the site

In addition, one of the following texts:
Capaldo P., Reddito, capitale e bilancio di esercizio: una introduzione, Giuffrè, 1998
Onida P .; Economia d’azienda, UTET, 1971
Zanda G, Il bilancio delle società, Lineamenti teorici e modelli di redazione, Giappichelli, 2007

First Part
The theory of Financial Reporting
Introduction
The goal of Financial Reporting
Capital and Income
Traditional Italian Theories on Income and Financial Reporting
Second Part
Introduction to Italian Accounting Standards and Laws on Financial Reporting
Balance Sheet, Income Statement, Cash Flows Statements and the Notes
The objective of general purpose financial reporting: the true and fair view
The exceptions to the application of the laws
The qualitative characteristics of useful financial information
The assets and liabilities measurement:
- Plants and equipment;
- The Depreciation process;
- The Impairment process;
- Intangible Assets;
- Goodwill;
- Interests in parent companies;
- Receivables and payables (expressed in Euro and in foreign currencies);
- Stocks;
- Financial Activities and Financial Derivatives.
Third Part
Financial Reporting for listed public companies.
The International Harmonisation of Accounting Standards
The Conceptual Framework for Financial Reporting

G. ZANDA, Il bilancio delle società, Giappichelli, Torino, 2007 and the Italian law n. 136/2015.

The course is composed by modules. The first two modules include the following legal categories: sources of law; subjective juridical situations; physical and juridical persons; legal assets, real rights in re propria and in re aliena; fact, act and trade; obligations; contracts in general. The third part focuses on the forms of transfer of familial property, with particular emphasis on the discipline of family law and mortis causa succession.

- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 3ª ed., Giappichelli, 2009
- F. MACIOCE, L’obbligazione e il contratto, 3ª ed., Giappichelli, 2013
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 4ª ed., Giappichelli, 2016 (excluding sec. from 6 to 12 Chap. III; Chap. VIII and Chap. X)

The course is composed by modules. The first two modules include the following legal categories: sources of law; subjective juridical situations; physical and juridical persons; legal assets, real rights in re propria and in re aliena; fact, act and trade; obligations; contracts in general. The third part focuses on the forms of transfer of familial property, with particular emphasis on the discipline of family law and mortis causa succession.

- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 3ª ed., Giappichelli, 2009
- F. MACIOCE, L’obbligazione e il contratto, 3ª ed., Giappichelli, 2013
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 4ª ed., Giappichelli, 2016 (excluding sec. from 6 to 12 Chap. III; Chap. VIII and Chap. X)

The course aims, first of all, to provide an overview of the role and the main functions of the financial system. The central part of the course is dedicated to an analysis of the technical characteristics and of the economic and management profiles of financial instruments and markets. Finally, the course presents the objectives as well as the organization and the behavioral models of financial intermediaries, also considering the role of regulation and supervision.
1. Real economy, financial system and financial intermediation
2. Theory of financial intermediation
3. Financial instruments
4. Financial markets
5. Banking
6. Investment services and asset management
7. Insurance
8. Payment systems
9. Risks in financial intermediation
10. Regulation and supervision
11. Monetary policy

Mishkin F.S., Eakins S.G. (2014), Financial Markets and Institutions, eighth edition, Pearson.

1. Financial system and financial intermediation
2. Theory of financial intermediation
3. Risks in financial intermediation
4. Financial instruments
5. Financial markets
6. Banking
7. Investment services and asset management
8. Insurance
9. Regulation
10. Re-regulation and supervision
11. Monetary policy
12. Payment systems

Nadotti, Porzio, Previati. Economia degli intermediari finanziari. McGraw-Hill, ultima edizione

The course analyzes the main characteristics of business management and it is divided into didactic modules.
Themes related to enterprises and entrepreneurial aims (The enterprise and its role; The enterprise and its environment )are studied in depth in the first module. Business strategies and business development paths (Business strategy management; Competitive strategies and market analysis models; business development strategies) are analyzed in the second module. In the third module business functions and business operations management, with reference in particular to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications) are studied in depth.

Sciarelli S., (2017) La gestione dell'impresa. Tra teoria e pratica aziendale, CEDAM;
Additional compulsory didactic material will be published on the course web page of the “Dipartimento di Economia Aziendale” website.

The course analyzes the main characteristics of business management and it is divided into didactic modules.
Themes related to enterprises and entrepreneurial aims (The enterprise and its role; The enterprise and its environment )are studied in depth in the first module. Business strategies and business development paths (Business strategy management; Competitive strategies and market analysis models; business development strategies) are analyzed in the second module. In the third module business functions and business operations management, with reference in particular to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications) are studied in depth.

Sciarelli S., (2017) La gestione dell'impresa. Tra teoria e pratica aziendale, CEDAM;
Additional compulsory didactic material will be published on the course web page of the “Dipartimento di Economia Aziendale” website.

The course analyzes the main characteristics of business management and it is divided into didactic modules.
Themes related to enterprises and entrepreneurial aims (The enterprise and its role; The enterprise and its environment )are studied in depth in the first module. Business strategies and business development paths (Business strategy management; Competitive strategies and market analysis models; business development strategies) are analyzed in the second module. In the third module business functions and business operations management, with reference in particular to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications) are studied in depth.

Sciarelli S., (2017) La gestione dell'impresa. Tra teoria e pratica aziendale, CEDAM;
Additional compulsory didactic material will be published on the course web page of the “Dipartimento di Economia Aziendale” website.

1. PRELIMINARY CONCEPTS Money, time and risks. Present and future value, principal and interest. Contracts, exchange, prices. The risks.

2. FOUNDATIONS OF FINANCIAL CONTRACTS EVALUATION
2.1 EVALUATION IN CERTAINTY CONDITIONS Financial laws in certainty conditions. The exponential law. Annuities and mortgages. Internal rate of return on a financial transaction. Theory of financial equivalence laws.
2.2 FINANCIAL OPERATIONS IN THE MARKET. Value function and market price. The term structure. Duration indices and variability indices. Arbitrage valuations of floating rate notes. Interest Rate Swap. Term structure measurement. Term structure evolution. Introduction to financial options. Basic elements on equity options. Basic elements on traditional life insurance contracts.

David G. Luenberger
Investment Science
Oxford University Press (any edition)

Annamaria Olivieri, Ermanno Pitacco
Introduction to Insurance Mathematics
Springer, 2011

1. PRELIMINARY CONCEPTS Money, time and risks. Present and future value, principal and interest. Contracts, exchange, prices. The risks.

2. FOUNDATIONS OF FINANCIAL CONTRACTS VALUATION

2.1 VALUATION IN CERTAINTY CONDITIONS Financial laws under certainty conditions. The exponential law. Annuities and mortgages. Internal rate of return of a financial transaction. Theory of financial laws.

2.2 FINANCIAL OPERATIONS IN THE MARKET. Value function and market price. The term structure. Duration indices and variability indices. Arbitrage valuation of floating rate notes. Interest Rate Swap. Term structure measurement. Term structure evolution. Introduction to financial options. Basic elements on equity options. Basic elements on traditional life insurance contracts.

David G. Luenberger
Investment Science
Oxford University Press (any edition)

Annamaria Olivieri, Ermanno Pitacco
Introduction to Insurance Mathematics
Springer, 2011

The program can be divided in four modules.

Part I
· Government bonds and corporate bonds
· Yiled curve
· Evaluation, return and risk of bonds

Part II
· Evaluation, return and risk of equity shares
· Markowitz Portfolio Selection and Capital Asset Pricing Model

Part III
· Investment services and asset allocation
· Asset allocation strategies
· Performance evaluation in asset allocation

Part IV
· Financial derivatives: forward, future, swap, option
· Investment certificates

Bodie Z., Kane A., Marcus A. J. Essentials of investments, 10th Edition, Mc-Graw Hill (chapters 1,2,3,4,5,6,7,8,10,11,13,15,17,18)

Additional materials will be available in the course web page.

The course, articulated in a single module, will cover the following topics:
1. The entrepreneur (of any kind).
2. The rules set forth for the commercial enterprises.
2. Companies and other business organizations.
4. The joint-stock company and the limited partnership by shares.
5. Transformation, merger and spin-off.
6. The co-operative companies, the consortia and the joint-ventures.
7. Entrepreneur’s auxiliaries; the establishment.
8. Debt securities and promissory notes.
9. Bankruptcy (general principles).

V. Buonocore (conceived by), Manuale di diritto commerciale, Torino, Giappichelli, last edition:
part I (excluding cap. III, VI e VII);
part II;
part V, sez. I e sez. II, parag. 1 e parag. 2;
part VI, sez. I.
It’s recommended studying the subject with an updated Civil Code, comprehensive of connected laws.

The course, articulated in a single module, will cover the following topics:
1. The entrepreneur (of any kind).
2. The rules set forth for the commercial enterprises.
2. Companies and other business organizations.
4. The joint-stock company and the limited partnership by shares.
5. Transformation, merger and spin-off.
6. The co-operative companies, the consortia and the joint-ventures.
7. Entrepreneur’s auxiliaries; the establishment.
8. Debt securities and promissory notes.
9. Bankruptcy (general principles).

V. Buonocore (conceived by), Manuale di diritto commerciale, Torino, Giappichelli, last edition:
part I (excluding cap. III, VI e VII);
part II;
part V, sez. I e sez. II, parag. 1 e parag. 2;
part VI, sez. I.
It’s recommended studying the subject with an updated Civil Code, comprehensive of connected laws.

The purpose of the course is to provide exhaustive knowledge of financial intermediaries, markets, listed companies and the supervisory agency and, particularly, the following matters: general principles of financial markets law; solicitation to the public; services and investment firms; institutional investors; listed companies’ rules; controls on the securities market.

- R. Costi, Il mercato mobiliare, Torino, Giappichelli, last edition.
- Consob Regulation no. 17221/2010 concerning related parties transactions.
- Borsa Italiana Corporate Governance Code.

The most important topics of the course are as follows:

1. Business forms, separation between ownership and control, stock markets
2. Annual reports, balance sheet analysis and financial decision making
3. Net present value, the separation between consumption and investment, the law of one price, arbitrage
4. Time value of money, interest rates, cost of capital
5. Capital budgeting: cash flow estimation, DCF method, IRR, and alternative methods for valuing investments
6. Methods for estimating the price of stocks
7. Risk measures
8. Mean-variance models, portfolio diversification and the risk-return relationship
9. Capital asset pricing model (CAPM), beta and cost of capital
10. Capital structure and firm value in perfect markets (Modigliani and Miller theorems)
11. Debt and taxes
12. Bankruptcy costs, agency costs of debt and information asymmetries
13. Capital structure of Italian firms and international comparison
14. Weighted average cost of capital and adjusted present value (APV)
15. Capital budgeting with differrent capital structure policies

− Berk, J., DeMarzo, P., 2018. Finanza aziendale 1 - Fondamenti, Pearson, 4th edition, Chapters 1, 2, 3 (with Appendix), 4 (with Appendix), 5 (excluding Appendix), 7 (with Appendix), 8 (excluding section 8.5), 9 (with Appendix), 10, 11 (excluding Appendix), 12 (excluding section 12.4, with Appendix), 14, 15, 16, 18 (excluding section 18.4, with Appendix).

The most important topics of the course are as follows:

1. Business forms, separation between ownership and control, stock markets
2. Annual reports, balance sheet analysis and financial decision making
3. Net present value, the separation between consumption and investment, the law of one price, arbitrage
4. Time value of money, interest rates, cost of capital
5. Capital budgeting: cash flow estimation, DCF method, IRR, and alternative methods for valuing investments
6. Methods for estimating the price of stocks
7. Risk measures
8. Mean-variance models, portfolio diversification and the risk-return relationship
9. Capital asset pricing model (CAPM), beta and cost of capital
10. Capital structure and firm value in perfect markets (Modigliani and Miller theorems)
11. Debt and taxes
12. Bankruptcy costs, agency costs of debt and information asymmetries
13. Capital structure of Italian firms and international comparison
14. Weighted average cost of capital and adjusted present value (APV)
15. Capital budgeting with differrent capital structure policies

− Berk, J., DeMarzo, P., 2018. Finanza aziendale 1 - Fondamenti, Pearson, 4th edition, Chapters 1, 2, 3 (with Appendix), 4 (with Appendix), 5 (excluding Appendix), 7 (with Appendix), 8 (excluding section 8.5), 9 (with Appendix), 10, 11 (excluding Appendix), 12 (excluding section 12.4, with Appendix), 14, 15, 16, 18 (excluding section 18.4, with Appendix).

PART I:
BOND PORTFOLIO
Theory of bond portfolios. Bond market structure. Semi-deterministic theories of immunization.
STOCK PORTFOLIO
Financial decision theory in conditions of uncertainty. The logic of choosing between risky alternatives. The theory of expected utility. Insurance contracts and utility theory.
The mean-variance analysis. The market and portfolio choices. The second-order characteristics of the portfolio. Average-variance optimization. The determination of averages and covariance. Diversification and risk measures.
The Capital Asset Pricing Model. General considerations on expectations and risk in efficient markets. CAPM as a model of balance. Measurement and estimation issues. Extensions and applications.
REAL ESTATE INVESTMENT
Real estate investments. Characteristics of the real estate market. Selection and management of real estate portfolios.

PART II:
DERIVATIVES
Forward contracts. Forward contracts and markets. The arbitrage relationship between spot and forward prices. Spot exchange and forward exchange.
Futures contracts. Features. Daily readjustment mechanism. Futures and spot prices. Hedging and speculation with futures contracts. Futures on stock indices and on bonds.
Financial options. The logic of the options. Call and put options. European and American options. Arbitrage restrictions for the option price. The binomial model. The risk-neutral evaluation. The evaluation of American options. More general options.

Luenberger, D., Investment Science, OUP, 2013

GENERAL MATHEMATICS PROGRAM a.a 2019-2020
I CHANNEL

1) Logic, sets and numerical sets
Propositional logic. Propositions. Decidable propositions. Logical operations between propositions. Logical implication. Necessity, sufficiency and necessity and sufficiency. Truth tables. Theorem. Methods for proving a theorem. Sets. Operations between sets. Numerical sets:
natural numbers, relative numbers and rational numbers. Infimum and supremum of a numerical set. Irrationality of square root of 2 (with proof). Dedekind's axiom. The real numbers set. Real numbers and their representation on the straight line. Limited and non-limited sets. Maximum and minimum of a numerical set. Intervals and boundary of a point. Elements of line topology: isolated, boundary, internal and accumulation points. Open sets. Closed sets. A set is closed if and only if it contains all its accumulation points.
2) Sums
Definition of summation. Sum of the first natural n (with proof). Sum of the first n terms of a geometric progression (with proof). Summation properties.
3) Real functions of real variable
Real functions of real variable. The Cartesian plane and the graph of a function. Injective and surjective functions. Invertible functions. Even and odd functions. Increasing and decreasing functions. Link between monotony and injectivity. Inverse function. Inverse function graph. Elementary functions. Transformations of elementary functions. Compound function. Multi-law defined functions. Domain of a function.
4) Sequences and numerical series
Converging, diverging and indeterminate sequences. Limits of sequences. Definition of numerical series. Necessary condition for convergence
of a series (with proof). The character of the geometric series (with proof). Mengoli series and its value (with proof).
5) Limits of real functions of real variable
Definition of limits. Right-hand limit and left-hand limit. Vertical and horizontal asymptote. Oblique asymptote. Theorem on uniqueness of limit. (with proof). Theorems on sign permanence (with proof). Rational operations on limits. Indeterminate forms. Notable limits.
6) Infinites and infinitesimals
Definition of infinitesimal and infinite. Comparison between infinitesimal and infinite. Order of infinitesimal and infinite. Cancellation theorems (with proof). Order propagation.
7) Continuity
Definition of continuity in a point. Continuity in a set. Classification of discontinuity points. Continuity of elementary functions. Continuity
of the compound function. Continuity of functions defined by several laws. Theorem of zeros for continuous functions. Weierstrass's theorem. Darboux's theorem (with proof).
8) Differential calculus
Difference quotient. Derivative of a function in a point and its geometric meaning. Derivability implies continuity (with proof). Points of non-derivability.
Derivative function and derivatives of subsequent order. Derivative of elementary functions. The rules of derivation. Derivative of compound functions. De L’Hopital's theorem and its application to indeterminate forms. Taylor polynomial of order 1 and order 2 (with proof). The factorial of n. Taylor polynomial
of order n. Mc Laurin polynomial. Differential and its geometric meaning. First-order error theorem (with proof). Local maxima and minima. Fermat's theorem (with proof). Rolle's theorem (with proof). Lagrange's theorem (with proof). Corollaries to Lagrange's theorem (with proof). Relationship between the sign of the first derivative and the increasing / decreasing functions in an interval (with proof). Concavity and convexity in a point. Relationship between the sign of the second derivative and the convexity / concavity of a function in an interval (with proof). Flex points. Global concavity and convexity conditions.
9) Integral calculus
Primitive of a function. Indefinite integral. Properties of primitives (with proof). Property of the indefinite integral. Immediate indefinite integrals. Integration by parts (with proof). Area subtended by a curve. Superior and inferior integral sum. Definition of definited Riemann integral. Property
of the definite integral. Integral function. The integral mean value theorem (with proof). Torricelli-Barrow's theorem (with proof). Corollary to Torricelli-Barrow's theorem (with proof).
10) Linear algebra
Vectors and their geometric representation. Product of a vector for a scalar. Vectors addition. The vector space Rn: Linear combination of
vectors. Linearly dependent and independent vectors. Matrices. Matrix addition. Matrix multiplication. Determinant of a matrix. Matrix
inverse. Uniqueness of the inverse matrix (with proof). Necessary condition for the existence of the inverse matrix (with proof). Sufficient condition for the existence of the inverse matrix. Transposed matrix. Rank of a matrix. Linear equation systems. Cramer's theorem. Rouché-Capelli theorem. Homogeneous systems. Parametric systems

Testi adottati:

EN: Carl P. Simon, Lawrence Blume, Mathematics for economists, W.W. Norton and Company, 2010.
Only: Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Appendix 4.
http://disa.uniroma3.it/didattica/lauree-triennali/matematica-generale-n-o-ii-canale-d-k/

1) Logic, sets and numerical sets
Propositional logic. Propositions. Decidable propositions. Logical operations between propositions. Logical implication. Necessity, sufficiency and necessity and sufficiency. Truth tables. Theorem. Methods for proving a theorem. Sets. Operations between sets. Numerical sets:
natural numbers, relative numbers and rational numbers. Infimum and supremum of a numerical set. Irrationality of square root of 2 (with proof). Dedekind's axiom. The real numbers set. Real numbers and their representation on the straight line. Limited and non-limited sets. Maximum and minimum of a numerical set. Intervals and boundary of a point. Elements of line topology: isolated, boundary, internal and accumulation points. Open sets. Closed sets. A set is closed if and only if it contains all its accumulation points.
2) Sums
Definition of summation. Sum of the first natural n (with proof). Sum of the first n terms of a geometric progression (with proof). Summation properties.
3) Real functions of real variable
Real functions of real variable. The Cartesian plane and the graph of a function. Injective and surjective functions. Invertible functions. Even and odd functions. Increasing and decreasing functions. Link between monotony and injectivity. Inverse function. Inverse function graph. Elementary functions. Transformations of elementary functions. Compound function. Multi-law defined functions. Domain of a function.
4) Sequences and numerical series
Converging, diverging and indeterminate sequences. Limits of sequences. Definition of numerical series. Necessary condition for convergence
of a series (with proof). The character of the geometric series (with proof). Mengoli series and its value (with proof).
5) Limits of real functions of real variable
Definition of limits. Right-hand limit and left-hand limit. Vertical and horizontal asymptote. Oblique asymptote. Theorem on uniqueness of limit. (with proof). Theorems on sign permanence (with proof). Rational operations on limits. Indeterminate forms. Notable limits.
6) Infinites and infinitesimals
Definition of infinitesimal and infinite. Comparison between infinitesimal and infinite. Order of infinitesimal and infinite. Cancellation theorems (with proof). Order propagation.
7) Continuity
Definition of continuity in a point. Continuity in a set. Classification of discontinuity points. Continuity of elementary functions. Continuity
of the compound function. Continuity of functions defined by several laws. Theorem of zeros for continuous functions. Weierstrass's theorem. Darboux's theorem (with proof).
8) Differential calculus
Difference quotient. Derivative of a function in a point and its geometric meaning. Derivability implies continuity (with proof). Points of non-derivability.
Derivative function and derivatives of subsequent order. Derivative of elementary functions. The rules of derivation. Derivative of compound functions. De L’Hopital's theorem and its application to indeterminate forms. Taylor polynomial of order 1 and order 2 (with proof). The factorial of n. Taylor polynomial
of order n. Mc Laurin polynomial. Differential and its geometric meaning. First-order error theorem (with proof). Local maxima and minima. Fermat's theorem (with proof). Rolle's theorem (with proof). Lagrange's theorem (with proof). Corollaries to Lagrange's theorem (with proof). Relationship between the sign of the first derivative and the increasing / decreasing functions in an interval (with proof). Concavity and convexity in a point. Relationship between the sign of the second derivative and the convexity / concavity of a function in an interval (with proof). Flex points. Global concavity and convexity conditions.
9) Integral calculus
Primitive of a function. Indefinite integral. Properties of primitives (with proof). Property of the indefinite integral. Immediate indefinite integrals. Integration by parts (with proof). Area subtended by a curve. Superior and inferior integral sum. Definition of definited Riemann integral. Property
of the definite integral. Integral function. The integral mean value theorem (with proof). Torricelli-Barrow's theorem (with proof). Corollary to Torricelli-Barrow's theorem (with proof).
10) Linear algebra
Vectors and their geometric representation. Product of a vector for a scalar. Vectors addition. The vector space Rn: Linear combination of
vectors. Linearly dependent and independent vectors. Matrices. Matrix addition. Matrix multiplication. Determinant of a matrix. Matrix
inverse. Uniqueness of the inverse matrix (with proof). Necessary condition for the existence of the inverse matrix (with proof). Sufficient condition for the existence of the inverse matrix. Transposed matrix. Rank of a matrix. Linear equation systems. Cramer's theorem. Rouché-Capelli theorem. Homogeneous systems. Parametric systems

Mathematics for economists Carl P. Simon, Lawrence Blume- W.W. Norton and Company, Inc.
Only:Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Appendix 4 .

1) Logic, sets and numerical sets
Propositional logic. Propositions. Decidable propositions. Logical operations between propositions. Logical implication. Necessity, sufficiency and necessity and sufficiency. Truth tables. Theorem. Methods for proving a theorem. Sets. Operations between sets. Numerical sets:
natural numbers, relative numbers and rational numbers. Infimum and supremum of a numerical set. Irrationality of square root of 2 (with proof). Dedekind's axiom. The real numbers set. Real numbers and their representation on the straight line. Limited and non-limited sets. Maximum and minimum of a numerical set. Intervals and boundary of a point. Elements of line topology: isolated, boundary, internal and accumulation points. Open sets. Closed sets. A set is closed if and only if it contains all its accumulation points.
2) Sums
Definition of summation. Sum of the first natural n (with proof). Sum of the first n terms of a geometric progression (with proof). Summation properties.
3) Real functions of real variable
Real functions of real variable. The Cartesian plane and the graph of a function. Injective and surjective functions. Invertible functions. Even and odd functions. Increasing and decreasing functions. Link between monotony and injectivity. Inverse function. Inverse function graph. Elementary functions. Transformations of elementary functions. Compound function. Multi-law defined functions. Domain of a function.
4) Sequences and numerical series
Converging, diverging and indeterminate sequences. Limits of sequences. Definition of numerical series. Necessary condition for convergence
of a series (with proof). The character of the geometric series (with proof). Mengoli series and its value (with proof).
5) Limits of real functions of real variable
Definition of limits. Right-hand limit and left-hand limit. Vertical and horizontal asymptote. Oblique asymptote. Theorem on uniqueness of limit. (with proof). Theorems on sign permanence (with proof). Rational operations on limits. Indeterminate forms. Notable limits.
6) Infinites and infinitesimals
Definition of infinitesimal and infinite. Comparison between infinitesimal and infinite. Order of infinitesimal and infinite. Cancellation theorems (with proof). Order propagation.
7) Continuity
Definition of continuity in a point. Continuity in a set. Classification of discontinuity points. Continuity of elementary functions. Continuity
of the compound function. Continuity of functions defined by several laws. Theorem of zeros for continuous functions. Weierstrass's theorem. Darboux's theorem (with proof).
8) Differential calculus
Difference quotient. Derivative of a function in a point and its geometric meaning. Derivability implies continuity (with proof). Points of non-derivability.
Derivative function and derivatives of subsequent order. Derivative of elementary functions. The rules of derivation. Derivative of compound functions. De L’Hopital's theorem and its application to indeterminate forms. Taylor polynomial of order 1 and order 2 (with proof). The factorial of n. Taylor polynomial
of order n. Mc Laurin polynomial. Differential and its geometric meaning. First-order error theorem (with proof). Local maxima and minima. Fermat's theorem (with proof). Rolle's theorem (with proof). Lagrange's theorem (with proof). Corollaries to Lagrange's theorem (with proof). Relationship between the sign of the first derivative and the increasing / decreasing functions in an interval (with proof). Concavity and convexity in a point. Relationship between the sign of the second derivative and the convexity / concavity of a function in an interval (with proof). Flex points. Global concavity and convexity conditions.
9) Integral calculus
Primitive of a function. Indefinite integral. Properties of primitives (with proof). Property of the indefinite integral. Immediate indefinite integrals. Integration by parts (with proof). Area subtended by a curve. Superior and inferior integral sum. Definition of definited Riemann integral. Property
of the definite integral. Integral function. The integral mean value theorem (with proof). Torricelli-Barrow's theorem (with proof). Corollary to Torricelli-Barrow's theorem (with proof).
10) Linear algebra
Vectors and their geometric representation. Product of a vector for a scalar. Vectors addition. The vector space Rn: Linear combination of
vectors. Linearly dependent and independent vectors. Matrices. Matrix addition. Matrix multiplication. Determinant of a matrix. Matrix
inverse. Uniqueness of the inverse matrix (with proof). Necessary condition for the existence of the inverse matrix (with proof). Sufficient condition for the existence of the inverse matrix. Transposed matrix. Rank of a matrix. Linear equation systems. Cramer's theorem. Rouché-Capelli theorem. Homogeneous systems. Parametric systems.

Carl P. Simon, Lawrence Blume, Mathematics for economists, W.W. Norton and Company, 2010.
Only: Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Appendix 4.

1. The Economic system. Definitions and measurement of the main macroeconomic aggregates
2. Macroeconomic equilibrium and the Keynesian theory of income and employment
3.The public sector
4. The open economy: balance of payments, exchange rate, external constraint
5. Money and financial activities. The Central Bank and the banking sector, Demand and supply of money, interest rate determination.
6. Aggregate investment and the rate of interest. Controversial aspects.
7. The IS-LM model. Economic policy in the IS-LM model in a closed economy. Effects of changes in nominal wages
8. The IS-LM model for the open economy, exchange rate regimes and the effects of economic policy
9.The AD-AS model and its implications for the theory of output and employment
10. Inflation and unemployment some elements towards an interpretation

C. De Vincenti, MACROECONOMIA - ELEMENTI DI BASE, editore Carocci, 2003 (except parr 9.5 e 9.6 and chapt. 10) + macroeconomics hand-outs by prof. Antonella Stirati available at the library

The course consists of three modules
First module:
• National Accounts
• Aggregate demand. Income multipliers
• The IS-LM model

Second module:
• Aggregate demand in an open economy
• The IS-LM model in an open economy

Third module:
• The labour market
• The AD-AS model
• The natural rate of unemployment and the Phillips curve
• Inflation, production and money growth. The quantity theory of money
• Introduction to growth models

O. Blanchard, F. Giavazzi, A Amighini
Macroeconomics
Pearson, 2017

Introduction
- What is Macroeconomics
- Some elements of the System of National Accounts

Part 1: The Short Run
- The Goods Market
- Financial Markets
- The IS-LM Model

Part 2: The Medium Run
- The Labor Market
- The Phillips Curve, the Natural Rate of Unemployment, and Inflation
- The IS-LM-PC Model

Part 3: Extensions
- Introduction to the theory of economic growth
- The open economy and the Exchange Rate Regimes

- Olivier Blanchard "Macroeconomics". 7th edition Pearson

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS
First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.
Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises: Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018


Alternatively:

David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS

First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.

Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises:
Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018

Alternatively:
David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS
First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.
Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises: Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018


Alternatively:

David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS

First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.

Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises:
Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018

Alternatively:
David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

First part: BUSINESS ADMINISTRATION
1) Business Economics and Accounting. General company characters. The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk. Income and profitability. Social responsibility and sustainability. The process of dimensional growth of companies: the main characteristics, nature, structure, internal exchange and production operations in groups of companies.
3) Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.

Second part: ACCRUAL ACCOUNTING
Double-entry theory and method. The double-entry method applied to the income system in production companies. The accounting records of the incorporation operations and of the main operations. The accounts for closing and reopening the accounts.

Part I
ZANDA, Lineamenti di Economia Aziendale, Edizioni Kappa, Roma, 2006;
Part II
T.ONESTI et al. (a cura di), Esercitazioni di economia aziendale, Giappichelli, Torino, 2013 (ebook).

During the lessons, the teacher will provide additional support material through the website of the chair: https://onestieconomiaaziendale.wordpress.com/

Part I: The Economy of the Company: Business Economics and Accounting. The study of the conditions of existence of the corporate body; the personal component and the operating means of the company. Object of the company. Corporate subjects: "legal entities" and "economic subject". Organization. The organizational structures. Various types of company. The institution of the company, its location, its size.
The supply company: general characteristics and management schemes. Production companies for the exchange of goods and services: companies. The aims of the company. The economic balance as a fundamental condition of the life of the company. Economic balance and economy. The possible ways of remunerating the productive factors used by the company. The business risk and the subjects on which it weighs. Business efficiency. The process of forming the company's income. The capital requirement and its determination. Company financing: equity and credit capital in their various forms; corporate self-financing; the choice of convenient forms of financing; the dynamic relationship between equity and credit capital. The financial structure of the company.
The process of dimensional growth of companies: the main characteristics, nature, structure, internal exchange and production operations in groups of companies.
Part II: Accounting elements: Double-entry theory and method. The double-entry method applied to the income system in production companies. The accounting records of the incorporation operations and of the main operations. The accounts for closing and reopening the accounts.

Zanda, Fondamenti di Economia Aziendale, Giappichelli, ultima edizione
oppure
Zanda, Lineamenti di Economia Aziendale, Kappa, ultima edizione

L. MUSERRA, T.ONESTI, Esercitazioni di economia aziendale, Giappichelli, 2013 (ebook, available on the website giappichelli.it).
Please refer to the onestieconomiaaziendale.wordpress.com course page for course material.

Structure of the computer. Hardware and Software. General diagram of a data processing system. Type of computers. The use of the computer memories. The processor. The multiprocessor architectures. Input / Output: Ports for input / output of the computer. The units of input. The units of output. Operating systems. Characteristics of the operating systems. The multitasking operating systems. The Windows operating system. The graphical interface. Computer networks. The communication between computers. Protocols and interfaces. The local networks. The transmission media. The types of network. The wide area networks. Internetwork. Internet. The services of the Internet.
Spreadsheet, Word processing and presentation tools.

ECDL Syllabus 5.0 - La guida McGraw- Hill alla Patente Europea del Computer

The course of public law is divided into two modules.
The I Module deals with the following topics: theory of social groups; the social system groups; the structure of the legal system; power and its species; the techniques of dividing power; the forms of exercising power: the legal norm and the provision; subjects; interests; the goods; subjective legal situations; legal facts; human behavior; the legal effects; the responsability; the ordering levels of governance (international, European Community, state, local); the organization of public powers; public functions (political address, standardization, administration, jurisdiction).
The second module deals with the Italian legal system and the regulatory principles of its political, legislative, administrative and judicial activities.

Educational materials
During the course will be available educational materials for explanatory and exercise on the site of the Departments in the appropriate spaces reserved for the purpose as well as on the fb page of the subject.
Bibliography
For the preparation of the first and second modules, we recommend the study of a manual chosen from the following:A. MELONCELLI, Manuale di diritto pubblico, Milano, Giuffrè, ult. ed.
R. BIN – G. PITRUZZELLA, Diritto pubblico, Torino, Giappichelli, ult. ed.
C. ROSSANO, Manuale di Diritto pubblico, Napoli, Jovene, ult. ed.
P. CARETTI – U. DE SIERVO, Istituzioni di Diritto pubblico, Torino, Giappichelli, ult. ed.

The course of public law is divided into two modules.
The I Module deals with the following topics: theory of social groups; the social system groups; the structure of the legal system; power and its species; the techniques of dividing power; the forms of exercising power: the legal norm and the provision; subjects; interests; the goods; subjective legal situations; legal facts; human behavior; the legal effects; the responsability; the ordering levels of governance (international, European Community, state, local); the organization of public powers; public functions (political address, standardization, administration, jurisdiction).
The second module deals with the Italian legal system and the regulatory principles of its political, legislative, administrative and judicial activities.

Educational materials
During the course will be available educational materials for explanatory and exercise on the site of the Departments in the appropriate spaces reserved for the purpose as well as on the fb page of the subject.
Bibliography
For the preparation of the first and second modules, we recommend the study of a manual chosen from the following:A. MELONCELLI, Manuale di diritto pubblico, Milano, Giuffrè, ult. ed.
R. BIN – G. PITRUZZELLA, Diritto pubblico, Torino, Giappichelli, ult. ed.
C. ROSSANO, Manuale di Diritto pubblico, Napoli, Jovene, ult. ed.
P. CARETTI – U. DE SIERVO, Istituzioni di Diritto pubblico, Torino, Giappichelli, ult. ed.

The course of public law is divided into two modules.
The I Module deals with the following topics: theory of social groups; the social system groups; the structure of the legal system; power and its species; the techniques of dividing power; the forms of exercising power: the legal norm and the provision; subjects; interests; the goods; subjective legal situations; legal facts; human behavior; the legal effects; the responsability; the ordering levels of governance (international, European Community, state, local); the organization of public powers; public functions (political address, standardization, administration, jurisdiction).
The second module deals with the Italian legal system and the regulatory principles of its political, legislative, administrative and judicial activities.

Educational materials
During the course will be available educational materials for explanatory and exercise on the site of the Departments in the appropriate spaces reserved for the purpose as well as on the fb page of the subject.
Bibliography
For the preparation of the first and second modules, we recommend the study of a manual chosen from the following:A. MELONCELLI, Manuale di diritto pubblico, Milano, Giuffrè, ult. ed.
R. BIN – G. PITRUZZELLA, Diritto pubblico, Torino, Giappichelli, ult. ed.
C. ROSSANO, Manuale di Diritto pubblico, Napoli, Jovene, ult. ed.
P. CARETTI – U. DE SIERVO, Istituzioni di Diritto pubblico, Torino, Giappichelli, ult. ed.

MICROECONOMICS
Prof. A. Trezzini

The Microeconomics course deals with the part of the economic analysis that has as its object the determination of the exchange value of individual goods, as well as the related problem of income distribution.
In the first part of the course the fundamental elements concerning the single productive processes and their mutual relations are exposed.
The second part of the course considers how the problem of the exchange value of goods and the distribution of the product has been dealt with within the theoretical framework of classical economists.
The third part of the course examines the basic elements of the marginalist microeconomics. The theory of production and firms in perfect competition and the theory of consumer and exchange are analysed.
The fourth part of the course is dedicated to theories of firm and individual industry in monopoly and oligopolistic conditions.
A fifth concluding part will be dedicated to a comparison between the two alternative approaches to the problems of value and distribution: the classic one and the marginalist one.

Dispensa n.1 Elementi di teoria della produzione (materiale didattico redatto dal Prof. R: Ciccone in collaborazione con il Dott. Trezzini)
Dispensa n.2 La teoria classica della distribuzione e dei prezzi relativi (materiale didattico redatto dal Prof. R: Ciccone in collaborazione con il Dott. Trezzini) compresa l'Appendice A ed esclusa l'Appendice B.
Dispensa n.3 La teoria marginalista della distribuzione e dei prezzi relativi (materiale didattico redatto dal Prof. R: Ciccone in collaborazione con il Dott. S. Fratini) pagine 1-11
H.R.Varian, Microeconomia, Cafoscarina, settima edizione.

1. Introduction: Methods of economic analysis. Demand and supply. Price elasticity of demand. 2. Consumer theory: Preferences and utility. Consumer choice. Theory of demand. 3. Production theory: The production process. Costs minimization. Cost curves. 4. Market forms: Prefect competition. Monopolistic markets. Monopoly. Price discrimination. 5. Other topics: Game theory and strategic behavior. Risk and information. General equilibrium theory.

David A. Besanko e Ronald R. Braeutigam, Microeconomia, McGraw-Hill Education, 2016.
Further material will be provided during classes through the course web-site.

The first part of the course will introduce consumption and production theories. These theories are the fundamental components of equilibrium theory in perfectly and imperfectly competitive markets and in monopoly, and they will be analyzed in the second part of the course. The third and final part of the course will address issues such as the analysis of information asymmetries, externalities and public goods.

Frank R.H. e Cartwright E., Microeconomia, Mc Graw-Hill, 7a edizione, 2017.

descriptive statistics
variables and their measurement
univariate distributions
describing data with tables and graphs
measures of position
variability

bivariate descriptive statistics
independence, association, correlation

probability distributions for discrete and continuous variables
sampling distributions

Inference:
estimation
hypothesis test

A. Agresti, B. Finlay
Statistical methods for the social sciences

Pearson International Edition - 4th edition 2009
Introductory statistics for business and economics
Wonnacot - Wonnacot
John Wiley&sons; International 2 revised ed.

descriptive statistics
variables and their measurement
univariate distributions
describing data with tables and graphs
measures of position
variability

bivariate descriptive statistics
independence, association, correlation

probability distributions for discrete and continuous variables
sampling distributions

Inference:
estimation
hypothesis test

A. Agresti, B. Finlay
Statistical methods for the social sciences

Pearson International Edition - 4th edition 2009
Introductory statistics for business and economics
Wonnacot - Wonnacot
John Wiley&sons; International 2 revised ed.

Course Topics

This graduate level course covers the following topics:

An overview of statistics
Data description: scales of measurement, how to describe data graphically for categorical data (pie chart, bar chart) and graphs for quantitative variables (histogram, pie chart and time plot)
How to describe data by summary statistics: measures of central tendency and variability
How to create a box plot
How probability and probability distributions are involved in statistics
How binomial distributions are involved in statistics
The role that normal distributions play in statistics
Simple random sampling and sampling distribution of sample mean, central limit theorem, normal approximation to the binomial
Differentiation between a population and a sample, how to use a statistic to estimate a population parameter, confidence interval and its interpretation, inferences of population proportion, margin of error and sample size computation
Confidence interval for population mean, Sample size needed for estimating the population mean with a specified confidence level and specified width of the interval
Hypothesis testing: in terms of how to set up Null and Alternative hypotheses, understanding Type I and Type II errors, performing a statistical test for the population mean
How to compute power of a test and choosing the sample size for testing population mean
p-value, how to compute it and how to use it
Inferences about μ with σ unknown: the t-distribution and the assumptions required to check in order to use it
How to compare the mean of two populations for independent samples: using pooled variances t-test versus separate variances t-test
How to compare the mean of two populations for paired data
How to compare two population proportions
Using contingency table and the Chi-square test of independence
Understanding concepts related to linear regression models including, least squares method, correlation, inferences about the parameters in the linear regression model

Introductory Statistics for Business and Economics by Thomas H. Wonnacott and Ronald J. Wonnacott
John Wiley & Sons Inc; International 2 Revised ed
See also: http://host.uniroma3.it/docenti/mortera/statisticaNNO/statisticaNNO.htm

This graduate level course covers the following topics:
An overview of statistics
Data description: scales of measurement, how to describe data graphically for categorical data (pie chart, bar chart) and graphs for quantitative variables (histogram, pie chart)
How to describe data by summary statistics: measures of central tendency, variability and skewness.
How to create a box plot
How probability and probability distributions are involved in statistics
How binomial distributions are involved in statistics
The role that normal distributions play in statistics
Simple random sampling and sampling distribution of sample mean, central limit theorem, normal approximation to the binomial
Differentiation between a population and a sample, how to use a statistic to estimate a population parameter, confidence interval and its interpretation, inferences of population mean and proportion
Confidence interval for population mean, Sample size needed for estimating the population mean with a specified confidence level and specified width of the interval
Hypothesis testing: in terms of how to set up Null and Alternative hypotheses, understanding Type I and Type II errors, performing a statistical test for the population mean
p-value, how to compute it and how to use it
Inferences about μ with σ unknown: the t-distribution and the assumptions required to check in order to use it
How to compare the mean of two populations for independent samples: using pooled variances t-test versus separate variances t-test
How to compare the mean of two populations for paired data
How to compare two population proportions
Using contingency table and the Chi-square test of independence
Understanding concepts related to linear regression models including, least squares method, correlation, inferences about the parameters in the linear regression model

The course the course is taught in Italian so textbooks are in Italian:
- G. Cicchitelli, Statsitica: Principi e Metodi, Pearson Education, 3/Eds
- Sebastiani M. R. (2015) “Esercitazioni di statistica”. Esculapio Editore, 3° edizione.
For English speaking students a textbook is:
Introductory Statistics for Business and Economics by Thomas H. Wonnacott and Ronald J. Wonnacott
John Wiley & Sons Inc; International 2 Revised ed
Notes and handout (in Italian) are available at the web page of the course.

The theory of Financial Reporting
Introduction
The goal of Financial Reporting
Capital and Income
Traditional Italian Theories on Income and Financial Reporting
Second Part
Introduction to Italian Accounting Standards and Laws on Financial Reporting
Balance Sheet, Income Statement, Cash Flows Statements and the Notes
The objective of general purpose financial reporting: the true and fair view
The exceptions to the application of the laws
The qualitative characteristics of useful financial information
The assets and liabilities measurement:
- Plants and equipment;
- The Depreciation process;
- The Impairment process;
- Intangible Assets;
- Goodwill;
- Interests in parent companies;
- Receivables and payables (expressed in Euro and in foreign currencies);
- Stocks;
- Financial Activities and Financial Derivatives.
Third Part
Financial Reporting for listed public companies.
The International Harmonisation of Accounting Standards
The Conceptual Framework for Financial Reporting

Materials to download on the site

In addition, one of the following texts:
Capaldo P., Reddito, capitale e bilancio di esercizio: una introduzione, Giuffrè, 1998
Onida P .; Economia d’azienda, UTET, 1971
Zanda G, Il bilancio delle società, Lineamenti teorici e modelli di redazione, Giappichelli, 2007

First Part
The theory of Financial Reporting
Introduction
The goal of Financial Reporting
Capital and Income
Traditional Italian Theories on Income and Financial Reporting
Second Part
Introduction to Italian Accounting Standards and Laws on Financial Reporting
Balance Sheet, Income Statement, Cash Flows Statements and the Notes
The objective of general purpose financial reporting: the true and fair view
The exceptions to the application of the laws
The qualitative characteristics of useful financial information
The assets and liabilities measurement:
- Plants and equipment;
- The Depreciation process;
- The Impairment process;
- Intangible Assets;
- Goodwill;
- Interests in parent companies;
- Receivables and payables (expressed in Euro and in foreign currencies);
- Stocks;
- Financial Activities and Financial Derivatives.
Third Part
Financial Reporting for listed public companies.
The International Harmonisation of Accounting Standards
The Conceptual Framework for Financial Reporting

G. ZANDA, Il bilancio delle società, Giappichelli, Torino, 2007 and the Italian law n. 136/2015.

The course is composed by modules. The first two modules include the following legal categories: sources of law; subjective juridical situations; physical and juridical persons; legal assets, real rights in re propria and in re aliena; fact, act and trade; obligations; contracts in general. The third part focuses on the forms of transfer of familial property, with particular emphasis on the discipline of family law and mortis causa succession.

- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 3ª ed., Giappichelli, 2009
- F. MACIOCE, L’obbligazione e il contratto, 3ª ed., Giappichelli, 2013
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 4ª ed., Giappichelli, 2016 (excluding sec. from 6 to 12 Chap. III; Chap. VIII and Chap. X)

The course is composed by modules. The first two modules include the following legal categories: sources of law; subjective juridical situations; physical and juridical persons; legal assets, real rights in re propria and in re aliena; fact, act and trade; obligations; contracts in general. The third part focuses on the forms of transfer of familial property, with particular emphasis on the discipline of family law and mortis causa succession.

- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 3ª ed., Giappichelli, 2009
- F. MACIOCE, L’obbligazione e il contratto, 3ª ed., Giappichelli, 2013
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 4ª ed., Giappichelli, 2016 (excluding sec. from 6 to 12 Chap. III; Chap. VIII and Chap. X)

The course aims, first of all, to provide an overview of the role and the main functions of the financial system. The central part of the course is dedicated to an analysis of the technical characteristics and of the economic and management profiles of financial instruments and markets. Finally, the course presents the objectives as well as the organization and the behavioral models of financial intermediaries, also considering the role of regulation and supervision.
1. Real economy, financial system and financial intermediation
2. Theory of financial intermediation
3. Financial instruments
4. Financial markets
5. Banking
6. Investment services and asset management
7. Insurance
8. Payment systems
9. Risks in financial intermediation
10. Regulation and supervision
11. Monetary policy

Mishkin F.S., Eakins S.G. (2014), Financial Markets and Institutions, eighth edition, Pearson.

1. Financial system and financial intermediation
2. Theory of financial intermediation
3. Risks in financial intermediation
4. Financial instruments
5. Financial markets
6. Banking
7. Investment services and asset management
8. Insurance
9. Regulation
10. Re-regulation and supervision
11. Monetary policy
12. Payment systems

Nadotti, Porzio, Previati. Economia degli intermediari finanziari. McGraw-Hill, ultima edizione

The course analyzes the main characteristics of business management and it is divided into didactic modules.
Themes related to enterprises and entrepreneurial aims (The enterprise and its role; The enterprise and its environment )are studied in depth in the first module. Business strategies and business development paths (Business strategy management; Competitive strategies and market analysis models; business development strategies) are analyzed in the second module. In the third module business functions and business operations management, with reference in particular to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications) are studied in depth.

Sciarelli S., (2017) La gestione dell'impresa. Tra teoria e pratica aziendale, CEDAM;
Additional compulsory didactic material will be published on the course web page of the “Dipartimento di Economia Aziendale” website.

The course analyzes the main characteristics of business management and it is divided into didactic modules.
Themes related to enterprises and entrepreneurial aims (The enterprise and its role; The enterprise and its environment )are studied in depth in the first module. Business strategies and business development paths (Business strategy management; Competitive strategies and market analysis models; business development strategies) are analyzed in the second module. In the third module business functions and business operations management, with reference in particular to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications) are studied in depth.

Sciarelli S., (2017) La gestione dell'impresa. Tra teoria e pratica aziendale, CEDAM;
Additional compulsory didactic material will be published on the course web page of the “Dipartimento di Economia Aziendale” website.

The course analyzes the main characteristics of business management and it is divided into didactic modules.
Themes related to enterprises and entrepreneurial aims (The enterprise and its role; The enterprise and its environment )are studied in depth in the first module. Business strategies and business development paths (Business strategy management; Competitive strategies and market analysis models; business development strategies) are analyzed in the second module. In the third module business functions and business operations management, with reference in particular to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications) are studied in depth.

Sciarelli S., (2017) La gestione dell'impresa. Tra teoria e pratica aziendale, CEDAM;
Additional compulsory didactic material will be published on the course web page of the “Dipartimento di Economia Aziendale” website.

1. PRELIMINARY CONCEPTS Money, time and risks. Present and future value, principal and interest. Contracts, exchange, prices. The risks.

2. FOUNDATIONS OF FINANCIAL CONTRACTS EVALUATION
2.1 EVALUATION IN CERTAINTY CONDITIONS Financial laws in certainty conditions. The exponential law. Annuities and mortgages. Internal rate of return on a financial transaction. Theory of financial equivalence laws.
2.2 FINANCIAL OPERATIONS IN THE MARKET. Value function and market price. The term structure. Duration indices and variability indices. Arbitrage valuations of floating rate notes. Interest Rate Swap. Term structure measurement. Term structure evolution. Introduction to financial options. Basic elements on equity options. Basic elements on traditional life insurance contracts.

David G. Luenberger
Investment Science
Oxford University Press (any edition)

Annamaria Olivieri, Ermanno Pitacco
Introduction to Insurance Mathematics
Springer, 2011

1. PRELIMINARY CONCEPTS Money, time and risks. Present and future value, principal and interest. Contracts, exchange, prices. The risks.

2. FOUNDATIONS OF FINANCIAL CONTRACTS VALUATION

2.1 VALUATION IN CERTAINTY CONDITIONS Financial laws under certainty conditions. The exponential law. Annuities and mortgages. Internal rate of return of a financial transaction. Theory of financial laws.

2.2 FINANCIAL OPERATIONS IN THE MARKET. Value function and market price. The term structure. Duration indices and variability indices. Arbitrage valuation of floating rate notes. Interest Rate Swap. Term structure measurement. Term structure evolution. Introduction to financial options. Basic elements on equity options. Basic elements on traditional life insurance contracts.

David G. Luenberger
Investment Science
Oxford University Press (any edition)

Annamaria Olivieri, Ermanno Pitacco
Introduction to Insurance Mathematics
Springer, 2011

The course, articulated in a single module, will cover the following topics:
1. The entrepreneur (of any kind).
2. The rules set forth for the commercial enterprises.
2. Companies and other business organizations.
4. The joint-stock company and the limited partnership by shares.
5. Transformation, merger and spin-off.
6. The co-operative companies, the consortia and the joint-ventures.
7. Entrepreneur’s auxiliaries; the establishment.
8. Debt securities and promissory notes.
9. Bankruptcy (general principles).

V. Buonocore (conceived by), Manuale di diritto commerciale, Torino, Giappichelli, last edition:
part I (excluding cap. III, VI e VII);
part II;
part V, sez. I e sez. II, parag. 1 e parag. 2;
part VI, sez. I.
It’s recommended studying the subject with an updated Civil Code, comprehensive of connected laws.

The course, articulated in a single module, will cover the following topics:
1. The entrepreneur (of any kind).
2. The rules set forth for the commercial enterprises.
2. Companies and other business organizations.
4. The joint-stock company and the limited partnership by shares.
5. Transformation, merger and spin-off.
6. The co-operative companies, the consortia and the joint-ventures.
7. Entrepreneur’s auxiliaries; the establishment.
8. Debt securities and promissory notes.
9. Bankruptcy (general principles).

V. Buonocore (conceived by), Manuale di diritto commerciale, Torino, Giappichelli, last edition:
part I (excluding cap. III, VI e VII);
part II;
part V, sez. I e sez. II, parag. 1 e parag. 2;
part VI, sez. I.
It’s recommended studying the subject with an updated Civil Code, comprehensive of connected laws.

Introduction to marketing management and market orientation, context analysis, consumer behavior, demand segmentation, business to business marketing, competitors analysis, marketing strategy: target, positioning and objectives, corporate strategy, decisions related to the product and service, price, distribution and communication, digital marketing, CRM, brand management and internationalization.

Peter, Donnelly, Pratesi, Marketing, McGraw Hill (most recent edition)
Kotler, Keller, Ancarani, Costabile, Marketing management, Pearson 2017

Introduction to marketing management and market orientation, context analysis, consumer behavior, demand segmentation, business to business marketing, competitors analysis, marketing strategy: target, positioning and objectives, corporate strategy, decisions related to the product and service, price, distribution and communication, digital marketing, CRM, brand management and internationalization.

Peter, Donnelly, Pratesi, Marketing, McGraw Hill (most recent edition)
Kotler, Keller, Ancarani, Costabile, Marketing management, Pearson 2017

Module I (prof Marchiori Michela)
1. Introduction: the characteristics of the field of study and the specificities of "Business Organization"
2. The organizational literature: an outline of the history of organizational thought.
3. The organizational design choices (organizational design): the levels of analysis and intervention
4. Design choices for work design A theoretical study: the analysis and discussion of the theory of the Scientific Organization of Labor by Frederick Taylor
4.2 The reassembly of the divided work: the job redesign aapporach and the sociotechnical approach

4.3 The theories behind post-Fordist approaches: Human Relation; Human Resource; sociotechnical approach

4.4 The new forms of work organization: Industry 4.0 and Smart work

5. Personnel management

5.1 Phases, activities and methodologies

5.2 Actors of the human resources management

5.3 The analysis of positions: tools and methods adopted in business practice
6. Work process design choices (inter-organizational relations): post-Fordism solutions and organizational techniques ... see module II program
7. Design choices of the organizational structure (business structure)
7.1 The problem of choosing the "formal configuration" of the organization: the origins of the topic in the literature
7.2 Traditional organizational structures: the functional structure, the divisional structure (the M form), the matrix structure.
7.3. The "post-Fordist" organizational structures: the process structure, the modular structure, the internal network.
7.4 Business groups and Holding companies
8. Design choices of organizational boundaries
8.1 The problem of the "boundaries" of the firm : origins and evolution of the literature on the subject
8.2 Outsourcing choices
8.3. Alliances and collaboration agreements between companies (motivations and contractual forms)
8.4 Business networks (outline)

Attending students
1) Marchiori Michela “Lecture notes on Business Organization course. Module I Academic Year 2019-2020 "
2) Albano Valentina “Lecture notes on Business Organization course. Module II Academic Year 2019-2020 "

Non-attending students
1) Marchiori Michela “Lecture notes on Business Organization course. Module I AA 2019-2020 "
2) Albano Valentina “Lecture notes on Business Organization course. Module II AA 2019-2020"
3) Masino Giovanni, Le imprese oltre il fordismo , Carocci, 2005 pagg. 7- 87 (excluding 71-77)

N.B The lecture notes on Business Organization course are valid for both attending and non-attending students and are available at the Library of Economics in Rome3 University via Silvio dʼamico 77 00145 Roma

Module I (prof Marchiori Michela)
1. Introduction: the characteristics of the field of study and the specificities of "Business Organization"
2. The organizational literature: an outline of the history of organizational thought.
3. The organizational design choices (organizational design): the levels of analysis and intervention
4. Design choices for work design A theoretical study: the analysis and discussion of the theory of the Scientific Organization of Labor by Frederick Taylor
4.2 The reassembly of the divided work: the job redesign aapporach and the sociotechnical approach

4.3 The theories behind post-Fordist approaches: Human Relation; Human Resource; sociotechnical approach

4.4 The new forms of work organization: Industry 4.0 and Smart work

5. Personnel management

5.1 Phases, activities and methodologies

5.2 Actors of the human resources management

5.3 The analysis of positions: tools and methods adopted in business practice
6. Work process design choices (inter-organizational relations): post-Fordism solutions and organizational techniques ... see module II program
7. Design choices of the organizational structure (business structure)
7.1 The problem of choosing the "formal configuration" of the organization: the origins of the topic in the literature
7.2 Traditional organizational structures: the functional structure, the divisional structure (the M form), the matrix structure.
7.3. The "post-Fordist" organizational structures: the process structure, the modular structure, the internal network.
7.4 Business groups and Holding companies
8. Design choices of organizational boundaries
8.1 The problem of the "boundaries" of the firm : origins and evolution of the literature on the subject
8.2 Outsourcing choices
8.3. Alliances and collaboration agreements between companies (motivations and contractual forms)
8.4 Business networks (outline)

Attending students
1) Marchiori Michela “Lecture notes on Business Organization course. Module I Academic Year 2019-2020 "
2) Albano Valentina “Lecture notes on Business Organization course. Module II Academic Year 2019-2020 "

Non-attending students
1) Marchiori Michela “Lecture notes on Business Organization course. Module I AA 2019-2020 "
2) Albano Valentina “Lecture notes on Business Organization course. Module II AA 2019-2020"
3) Masino Giovanni, Le imprese oltre il fordismo , Carocci, 2005 pagg. 7- 87 (excluding 71-77)

N.B The lecture notes on Business Organization course are valid for both attending and non-attending students and are available at the Library of Economics in Rome3 University via Silvio dʼamico 77 00145 Roma

GENERAL MATHEMATICS PROGRAM a.a 2019-2020
I CHANNEL

1) Logic, sets and numerical sets
Propositional logic. Propositions. Decidable propositions. Logical operations between propositions. Logical implication. Necessity, sufficiency and necessity and sufficiency. Truth tables. Theorem. Methods for proving a theorem. Sets. Operations between sets. Numerical sets:
natural numbers, relative numbers and rational numbers. Infimum and supremum of a numerical set. Irrationality of square root of 2 (with proof). Dedekind's axiom. The real numbers set. Real numbers and their representation on the straight line. Limited and non-limited sets. Maximum and minimum of a numerical set. Intervals and boundary of a point. Elements of line topology: isolated, boundary, internal and accumulation points. Open sets. Closed sets. A set is closed if and only if it contains all its accumulation points.
2) Sums
Definition of summation. Sum of the first natural n (with proof). Sum of the first n terms of a geometric progression (with proof). Summation properties.
3) Real functions of real variable
Real functions of real variable. The Cartesian plane and the graph of a function. Injective and surjective functions. Invertible functions. Even and odd functions. Increasing and decreasing functions. Link between monotony and injectivity. Inverse function. Inverse function graph. Elementary functions. Transformations of elementary functions. Compound function. Multi-law defined functions. Domain of a function.
4) Sequences and numerical series
Converging, diverging and indeterminate sequences. Limits of sequences. Definition of numerical series. Necessary condition for convergence
of a series (with proof). The character of the geometric series (with proof). Mengoli series and its value (with proof).
5) Limits of real functions of real variable
Definition of limits. Right-hand limit and left-hand limit. Vertical and horizontal asymptote. Oblique asymptote. Theorem on uniqueness of limit. (with proof). Theorems on sign permanence (with proof). Rational operations on limits. Indeterminate forms. Notable limits.
6) Infinites and infinitesimals
Definition of infinitesimal and infinite. Comparison between infinitesimal and infinite. Order of infinitesimal and infinite. Cancellation theorems (with proof). Order propagation.
7) Continuity
Definition of continuity in a point. Continuity in a set. Classification of discontinuity points. Continuity of elementary functions. Continuity
of the compound function. Continuity of functions defined by several laws. Theorem of zeros for continuous functions. Weierstrass's theorem. Darboux's theorem (with proof).
8) Differential calculus
Difference quotient. Derivative of a function in a point and its geometric meaning. Derivability implies continuity (with proof). Points of non-derivability.
Derivative function and derivatives of subsequent order. Derivative of elementary functions. The rules of derivation. Derivative of compound functions. De L’Hopital's theorem and its application to indeterminate forms. Taylor polynomial of order 1 and order 2 (with proof). The factorial of n. Taylor polynomial
of order n. Mc Laurin polynomial. Differential and its geometric meaning. First-order error theorem (with proof). Local maxima and minima. Fermat's theorem (with proof). Rolle's theorem (with proof). Lagrange's theorem (with proof). Corollaries to Lagrange's theorem (with proof). Relationship between the sign of the first derivative and the increasing / decreasing functions in an interval (with proof). Concavity and convexity in a point. Relationship between the sign of the second derivative and the convexity / concavity of a function in an interval (with proof). Flex points. Global concavity and convexity conditions.
9) Integral calculus
Primitive of a function. Indefinite integral. Properties of primitives (with proof). Property of the indefinite integral. Immediate indefinite integrals. Integration by parts (with proof). Area subtended by a curve. Superior and inferior integral sum. Definition of definited Riemann integral. Property
of the definite integral. Integral function. The integral mean value theorem (with proof). Torricelli-Barrow's theorem (with proof). Corollary to Torricelli-Barrow's theorem (with proof).
10) Linear algebra
Vectors and their geometric representation. Product of a vector for a scalar. Vectors addition. The vector space Rn: Linear combination of
vectors. Linearly dependent and independent vectors. Matrices. Matrix addition. Matrix multiplication. Determinant of a matrix. Matrix
inverse. Uniqueness of the inverse matrix (with proof). Necessary condition for the existence of the inverse matrix (with proof). Sufficient condition for the existence of the inverse matrix. Transposed matrix. Rank of a matrix. Linear equation systems. Cramer's theorem. Rouché-Capelli theorem. Homogeneous systems. Parametric systems

Testi adottati:

EN: Carl P. Simon, Lawrence Blume, Mathematics for economists, W.W. Norton and Company, 2010.
Only: Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Appendix 4.
http://disa.uniroma3.it/didattica/lauree-triennali/matematica-generale-n-o-ii-canale-d-k/

1) Logic, sets and numerical sets
Propositional logic. Propositions. Decidable propositions. Logical operations between propositions. Logical implication. Necessity, sufficiency and necessity and sufficiency. Truth tables. Theorem. Methods for proving a theorem. Sets. Operations between sets. Numerical sets:
natural numbers, relative numbers and rational numbers. Infimum and supremum of a numerical set. Irrationality of square root of 2 (with proof). Dedekind's axiom. The real numbers set. Real numbers and their representation on the straight line. Limited and non-limited sets. Maximum and minimum of a numerical set. Intervals and boundary of a point. Elements of line topology: isolated, boundary, internal and accumulation points. Open sets. Closed sets. A set is closed if and only if it contains all its accumulation points.
2) Sums
Definition of summation. Sum of the first natural n (with proof). Sum of the first n terms of a geometric progression (with proof). Summation properties.
3) Real functions of real variable
Real functions of real variable. The Cartesian plane and the graph of a function. Injective and surjective functions. Invertible functions. Even and odd functions. Increasing and decreasing functions. Link between monotony and injectivity. Inverse function. Inverse function graph. Elementary functions. Transformations of elementary functions. Compound function. Multi-law defined functions. Domain of a function.
4) Sequences and numerical series
Converging, diverging and indeterminate sequences. Limits of sequences. Definition of numerical series. Necessary condition for convergence
of a series (with proof). The character of the geometric series (with proof). Mengoli series and its value (with proof).
5) Limits of real functions of real variable
Definition of limits. Right-hand limit and left-hand limit. Vertical and horizontal asymptote. Oblique asymptote. Theorem on uniqueness of limit. (with proof). Theorems on sign permanence (with proof). Rational operations on limits. Indeterminate forms. Notable limits.
6) Infinites and infinitesimals
Definition of infinitesimal and infinite. Comparison between infinitesimal and infinite. Order of infinitesimal and infinite. Cancellation theorems (with proof). Order propagation.
7) Continuity
Definition of continuity in a point. Continuity in a set. Classification of discontinuity points. Continuity of elementary functions. Continuity
of the compound function. Continuity of functions defined by several laws. Theorem of zeros for continuous functions. Weierstrass's theorem. Darboux's theorem (with proof).
8) Differential calculus
Difference quotient. Derivative of a function in a point and its geometric meaning. Derivability implies continuity (with proof). Points of non-derivability.
Derivative function and derivatives of subsequent order. Derivative of elementary functions. The rules of derivation. Derivative of compound functions. De L’Hopital's theorem and its application to indeterminate forms. Taylor polynomial of order 1 and order 2 (with proof). The factorial of n. Taylor polynomial
of order n. Mc Laurin polynomial. Differential and its geometric meaning. First-order error theorem (with proof). Local maxima and minima. Fermat's theorem (with proof). Rolle's theorem (with proof). Lagrange's theorem (with proof). Corollaries to Lagrange's theorem (with proof). Relationship between the sign of the first derivative and the increasing / decreasing functions in an interval (with proof). Concavity and convexity in a point. Relationship between the sign of the second derivative and the convexity / concavity of a function in an interval (with proof). Flex points. Global concavity and convexity conditions.
9) Integral calculus
Primitive of a function. Indefinite integral. Properties of primitives (with proof). Property of the indefinite integral. Immediate indefinite integrals. Integration by parts (with proof). Area subtended by a curve. Superior and inferior integral sum. Definition of definited Riemann integral. Property
of the definite integral. Integral function. The integral mean value theorem (with proof). Torricelli-Barrow's theorem (with proof). Corollary to Torricelli-Barrow's theorem (with proof).
10) Linear algebra
Vectors and their geometric representation. Product of a vector for a scalar. Vectors addition. The vector space Rn: Linear combination of
vectors. Linearly dependent and independent vectors. Matrices. Matrix addition. Matrix multiplication. Determinant of a matrix. Matrix
inverse. Uniqueness of the inverse matrix (with proof). Necessary condition for the existence of the inverse matrix (with proof). Sufficient condition for the existence of the inverse matrix. Transposed matrix. Rank of a matrix. Linear equation systems. Cramer's theorem. Rouché-Capelli theorem. Homogeneous systems. Parametric systems

Mathematics for economists Carl P. Simon, Lawrence Blume- W.W. Norton and Company, Inc.
Only:Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Appendix 4 .

1) Logic, sets and numerical sets
Propositional logic. Propositions. Decidable propositions. Logical operations between propositions. Logical implication. Necessity, sufficiency and necessity and sufficiency. Truth tables. Theorem. Methods for proving a theorem. Sets. Operations between sets. Numerical sets:
natural numbers, relative numbers and rational numbers. Infimum and supremum of a numerical set. Irrationality of square root of 2 (with proof). Dedekind's axiom. The real numbers set. Real numbers and their representation on the straight line. Limited and non-limited sets. Maximum and minimum of a numerical set. Intervals and boundary of a point. Elements of line topology: isolated, boundary, internal and accumulation points. Open sets. Closed sets. A set is closed if and only if it contains all its accumulation points.
2) Sums
Definition of summation. Sum of the first natural n (with proof). Sum of the first n terms of a geometric progression (with proof). Summation properties.
3) Real functions of real variable
Real functions of real variable. The Cartesian plane and the graph of a function. Injective and surjective functions. Invertible functions. Even and odd functions. Increasing and decreasing functions. Link between monotony and injectivity. Inverse function. Inverse function graph. Elementary functions. Transformations of elementary functions. Compound function. Multi-law defined functions. Domain of a function.
4) Sequences and numerical series
Converging, diverging and indeterminate sequences. Limits of sequences. Definition of numerical series. Necessary condition for convergence
of a series (with proof). The character of the geometric series (with proof). Mengoli series and its value (with proof).
5) Limits of real functions of real variable
Definition of limits. Right-hand limit and left-hand limit. Vertical and horizontal asymptote. Oblique asymptote. Theorem on uniqueness of limit. (with proof). Theorems on sign permanence (with proof). Rational operations on limits. Indeterminate forms. Notable limits.
6) Infinites and infinitesimals
Definition of infinitesimal and infinite. Comparison between infinitesimal and infinite. Order of infinitesimal and infinite. Cancellation theorems (with proof). Order propagation.
7) Continuity
Definition of continuity in a point. Continuity in a set. Classification of discontinuity points. Continuity of elementary functions. Continuity
of the compound function. Continuity of functions defined by several laws. Theorem of zeros for continuous functions. Weierstrass's theorem. Darboux's theorem (with proof).
8) Differential calculus
Difference quotient. Derivative of a function in a point and its geometric meaning. Derivability implies continuity (with proof). Points of non-derivability.
Derivative function and derivatives of subsequent order. Derivative of elementary functions. The rules of derivation. Derivative of compound functions. De L’Hopital's theorem and its application to indeterminate forms. Taylor polynomial of order 1 and order 2 (with proof). The factorial of n. Taylor polynomial
of order n. Mc Laurin polynomial. Differential and its geometric meaning. First-order error theorem (with proof). Local maxima and minima. Fermat's theorem (with proof). Rolle's theorem (with proof). Lagrange's theorem (with proof). Corollaries to Lagrange's theorem (with proof). Relationship between the sign of the first derivative and the increasing / decreasing functions in an interval (with proof). Concavity and convexity in a point. Relationship between the sign of the second derivative and the convexity / concavity of a function in an interval (with proof). Flex points. Global concavity and convexity conditions.
9) Integral calculus
Primitive of a function. Indefinite integral. Properties of primitives (with proof). Property of the indefinite integral. Immediate indefinite integrals. Integration by parts (with proof). Area subtended by a curve. Superior and inferior integral sum. Definition of definited Riemann integral. Property
of the definite integral. Integral function. The integral mean value theorem (with proof). Torricelli-Barrow's theorem (with proof). Corollary to Torricelli-Barrow's theorem (with proof).
10) Linear algebra
Vectors and their geometric representation. Product of a vector for a scalar. Vectors addition. The vector space Rn: Linear combination of
vectors. Linearly dependent and independent vectors. Matrices. Matrix addition. Matrix multiplication. Determinant of a matrix. Matrix
inverse. Uniqueness of the inverse matrix (with proof). Necessary condition for the existence of the inverse matrix (with proof). Sufficient condition for the existence of the inverse matrix. Transposed matrix. Rank of a matrix. Linear equation systems. Cramer's theorem. Rouché-Capelli theorem. Homogeneous systems. Parametric systems.

Carl P. Simon, Lawrence Blume, Mathematics for economists, W.W. Norton and Company, 2010.
Only: Chapter 2, Chapter 3, Chapter 4, Chapter 5, Chapter 6, Chapter 7, Appendix 4.

1. The Economic system. Definitions and measurement of the main macroeconomic aggregates
2. Macroeconomic equilibrium and the Keynesian theory of income and employment
3.The public sector
4. The open economy: balance of payments, exchange rate, external constraint
5. Money and financial activities. The Central Bank and the banking sector, Demand and supply of money, interest rate determination.
6. Aggregate investment and the rate of interest. Controversial aspects.
7. The IS-LM model. Economic policy in the IS-LM model in a closed economy. Effects of changes in nominal wages
8. The IS-LM model for the open economy, exchange rate regimes and the effects of economic policy
9.The AD-AS model and its implications for the theory of output and employment
10. Inflation and unemployment some elements towards an interpretation

C. De Vincenti, MACROECONOMIA - ELEMENTI DI BASE, editore Carocci, 2003 (except parr 9.5 e 9.6 and chapt. 10) + macroeconomics hand-outs by prof. Antonella Stirati available at the library

The course consists of three modules
First module:
• National Accounts
• Aggregate demand. Income multipliers
• The IS-LM model

Second module:
• Aggregate demand in an open economy
• The IS-LM model in an open economy

Third module:
• The labour market
• The AD-AS model
• The natural rate of unemployment and the Phillips curve
• Inflation, production and money growth. The quantity theory of money
• Introduction to growth models

O. Blanchard, F. Giavazzi, A Amighini
Macroeconomics
Pearson, 2017

Introduction
- What is Macroeconomics
- Some elements of the System of National Accounts

Part 1: The Short Run
- The Goods Market
- Financial Markets
- The IS-LM Model

Part 2: The Medium Run
- The Labor Market
- The Phillips Curve, the Natural Rate of Unemployment, and Inflation
- The IS-LM-PC Model

Part 3: Extensions
- Introduction to the theory of economic growth
- The open economy and the Exchange Rate Regimes

- Olivier Blanchard "Macroeconomics". 7th edition Pearson

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS
First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.
Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises: Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018


Alternatively:

David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS

First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.

Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises:
Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018

Alternatively:
David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS
First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.
Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises: Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018


Alternatively:

David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

GENERAL CHARACTERISTICS OF CORPORATE ORGANISATIONS

First part: BUSINESS ADMINISTRATION
1) The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The firm in its economic perspective: The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk and who bears it. Income and profitability. Information Systems Governance and Internal controls (overview). Planning in business (overview).
3) Corporate funding: Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.

Second part: ACCRUAL ACCOUNTING
1) The accounting rationale. Nature of data to be examined. Methodologies. The corporate record-keeping system in a broad sense.
2) Accounting practice. Double-entry bookkeeping (definition). Double-entry bookkeeping applied to manufacturing companies. Bookkeeping entries for general business transactions, initiating joint-stock companies, particular transactions (wages and salaries, financial transactions, etc.), adjusting entries and year-end closing entries. Practical exercises in applying accounting record-keeping systems and measurement principles to business transactions.

First part: BUSINESS ADMINISTRATION
Paoloni M., Paoloni P. (a cura di), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2009

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale, CEDAM, 2012 (pp. 75-123; pp. 137-215; pp. 220-243; pp. 244-253; pp. 255-279; pp. 292-299; pp. 304-309; pp. 321-335; pp. 364-377; pp. 399-470)

For business administration and accounting exercises:
Paoloni M. (a cura di), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018

Alternatively:
David Boddy, Management: an Introduction, Financial Times Prentice Hall, 2011
Leslie K. Breitner and Robert N. Anthony, Essentials of Accounting, Pearson, 2013

First part: BUSINESS ADMINISTRATION
1) Business Economics and Accounting. General company characters. The firm as an economic entity: General characteristics of the firm. Corporate entities: legal and economic identities. Types of firms.
2) The enterprise as an individual economic undertaking: private enterprises and state-owned enterprises. The company’s purpose. Financial and economic stability as a prerequisite of a company’s existence. Economic stability and different types of economic operability. Payment for operating and production inputs used by enterprises. Corporate risk. Income and profitability. Social responsibility and sustainability. The process of dimensional growth of companies: the main characteristics, nature, structure, internal exchange and production operations in groups of companies.
3) Assessment of financial needs. Corporate funding: equity and debt capital in their various forms. Funding through cash generation. The capital structure of the company; choice of cost-efficient financing options; the dynamic relationship between equity and debt capital. Short-term capital and long-term financing.

Second part: ACCRUAL ACCOUNTING
Double-entry theory and method. The double-entry method applied to the income system in production companies. The accounting records of the incorporation operations and of the main operations. The accounts for closing and reopening the accounts.

Part I
ZANDA, Lineamenti di Economia Aziendale, Edizioni Kappa, Roma, 2006;
Part II
T.ONESTI et al. (a cura di), Esercitazioni di economia aziendale, Giappichelli, Torino, 2013 (ebook).

During the lessons, the teacher will provide additional support material through the website of the chair: https://onestieconomiaaziendale.wordpress.com/

Part I: The Economy of the Company: Business Economics and Accounting. The study of the conditions of existence of the corporate body; the personal component and the operating means of the company. Object of the company. Corporate subjects: "legal entities" and "economic subject". Organization. The organizational structures. Various types of company. The institution of the company, its location, its size.
The supply company: general characteristics and management schemes. Production companies for the exchange of goods and services: companies. The aims of the company. The economic balance as a fundamental condition of the life of the company. Economic balance and economy. The possible ways of remunerating the productive factors used by the company. The business risk and the subjects on which it weighs. Business efficiency. The process of forming the company's income. The capital requirement and its determination. Company financing: equity and credit capital in their various forms; corporate self-financing; the choice of convenient forms of financing; the dynamic relationship between equity and credit capital. The financial structure of the company.
The process of dimensional growth of companies: the main characteristics, nature, structure, internal exchange and production operations in groups of companies.
Part II: Accounting elements: Double-entry theory and method. The double-entry method applied to the income system in production companies. The accounting records of the incorporation operations and of the main operations. The accounts for closing and reopening the accounts.

Zanda, Fondamenti di Economia Aziendale, Giappichelli, ultima edizione
oppure
Zanda, Lineamenti di Economia Aziendale, Kappa, ultima edizione

L. MUSERRA, T.ONESTI, Esercitazioni di economia aziendale, Giappichelli, 2013 (ebook, available on the website giappichelli.it).
Please refer to the onestieconomiaaziendale.wordpress.com course page for course material.

Structure of the computer. Hardware and Software. General diagram of a data processing system. Type of computers. The use of the computer memories. The processor. The multiprocessor architectures. Input / Output: Ports for input / output of the computer. The units of input. The units of output. Operating systems. Characteristics of the operating systems. The multitasking operating systems. The Windows operating system. The graphical interface. Computer networks. The communication between computers. Protocols and interfaces. The local networks. The transmission media. The types of network. The wide area networks. Internetwork. Internet. The services of the Internet.
Spreadsheet, Word processing and presentation tools.

ECDL Syllabus 5.0 - La guida McGraw- Hill alla Patente Europea del Computer

The course of public law is divided into two modules.
The I Module deals with the following topics: theory of social groups; the social system groups; the structure of the legal system; power and its species; the techniques of dividing power; the forms of exercising power: the legal norm and the provision; subjects; interests; the goods; subjective legal situations; legal facts; human behavior; the legal effects; the responsability; the ordering levels of governance (international, European Community, state, local); the organization of public powers; public functions (political address, standardization, administration, jurisdiction).
The second module deals with the Italian legal system and the regulatory principles of its political, legislative, administrative and judicial activities.

Educational materials
During the course will be available educational materials for explanatory and exercise on the site of the Departments in the appropriate spaces reserved for the purpose as well as on the fb page of the subject.
Bibliography
For the preparation of the first and second modules, we recommend the study of a manual chosen from the following:A. MELONCELLI, Manuale di diritto pubblico, Milano, Giuffrè, ult. ed.
R. BIN – G. PITRUZZELLA, Diritto pubblico, Torino, Giappichelli, ult. ed.
C. ROSSANO, Manuale di Diritto pubblico, Napoli, Jovene, ult. ed.
P. CARETTI – U. DE SIERVO, Istituzioni di Diritto pubblico, Torino, Giappichelli, ult. ed.

The course of public law is divided into two modules.
The I Module deals with the following topics: theory of social groups; the social system groups; the structure of the legal system; power and its species; the techniques of dividing power; the forms of exercising power: the legal norm and the provision; subjects; interests; the goods; subjective legal situations; legal facts; human behavior; the legal effects; the responsability; the ordering levels of governance (international, European Community, state, local); the organization of public powers; public functions (political address, standardization, administration, jurisdiction).
The second module deals with the Italian legal system and the regulatory principles of its political, legislative, administrative and judicial activities.

Educational materials
During the course will be available educational materials for explanatory and exercise on the site of the Departments in the appropriate spaces reserved for the purpose as well as on the fb page of the subject.
Bibliography
For the preparation of the first and second modules, we recommend the study of a manual chosen from the following:A. MELONCELLI, Manuale di diritto pubblico, Milano, Giuffrè, ult. ed.
R. BIN – G. PITRUZZELLA, Diritto pubblico, Torino, Giappichelli, ult. ed.
C. ROSSANO, Manuale di Diritto pubblico, Napoli, Jovene, ult. ed.
P. CARETTI – U. DE SIERVO, Istituzioni di Diritto pubblico, Torino, Giappichelli, ult. ed.

The course of public law is divided into two modules.
The I Module deals with the following topics: theory of social groups; the social system groups; the structure of the legal system; power and its species; the techniques of dividing power; the forms of exercising power: the legal norm and the provision; subjects; interests; the goods; subjective legal situations; legal facts; human behavior; the legal effects; the responsability; the ordering levels of governance (international, European Community, state, local); the organization of public powers; public functions (political address, standardization, administration, jurisdiction).
The second module deals with the Italian legal system and the regulatory principles of its political, legislative, administrative and judicial activities.

Educational materials
During the course will be available educational materials for explanatory and exercise on the site of the Departments in the appropriate spaces reserved for the purpose as well as on the fb page of the subject.
Bibliography
For the preparation of the first and second modules, we recommend the study of a manual chosen from the following:A. MELONCELLI, Manuale di diritto pubblico, Milano, Giuffrè, ult. ed.
R. BIN – G. PITRUZZELLA, Diritto pubblico, Torino, Giappichelli, ult. ed.
C. ROSSANO, Manuale di Diritto pubblico, Napoli, Jovene, ult. ed.
P. CARETTI – U. DE SIERVO, Istituzioni di Diritto pubblico, Torino, Giappichelli, ult. ed.

MICROECONOMICS
Prof. A. Trezzini

The Microeconomics course deals with the part of the economic analysis that has as its object the determination of the exchange value of individual goods, as well as the related problem of income distribution.
In the first part of the course the fundamental elements concerning the single productive processes and their mutual relations are exposed.
The second part of the course considers how the problem of the exchange value of goods and the distribution of the product has been dealt with within the theoretical framework of classical economists.
The third part of the course examines the basic elements of the marginalist microeconomics. The theory of production and firms in perfect competition and the theory of consumer and exchange are analysed.
The fourth part of the course is dedicated to theories of firm and individual industry in monopoly and oligopolistic conditions.
A fifth concluding part will be dedicated to a comparison between the two alternative approaches to the problems of value and distribution: the classic one and the marginalist one.

Dispensa n.1 Elementi di teoria della produzione (materiale didattico redatto dal Prof. R: Ciccone in collaborazione con il Dott. Trezzini)
Dispensa n.2 La teoria classica della distribuzione e dei prezzi relativi (materiale didattico redatto dal Prof. R: Ciccone in collaborazione con il Dott. Trezzini) compresa l'Appendice A ed esclusa l'Appendice B.
Dispensa n.3 La teoria marginalista della distribuzione e dei prezzi relativi (materiale didattico redatto dal Prof. R: Ciccone in collaborazione con il Dott. S. Fratini) pagine 1-11
H.R.Varian, Microeconomia, Cafoscarina, settima edizione.

1. Introduction: Methods of economic analysis. Demand and supply. Price elasticity of demand. 2. Consumer theory: Preferences and utility. Consumer choice. Theory of demand. 3. Production theory: The production process. Costs minimization. Cost curves. 4. Market forms: Prefect competition. Monopolistic markets. Monopoly. Price discrimination. 5. Other topics: Game theory and strategic behavior. Risk and information. General equilibrium theory.

David A. Besanko e Ronald R. Braeutigam, Microeconomia, McGraw-Hill Education, 2016.
Further material will be provided during classes through the course web-site.

The first part of the course will introduce consumption and production theories. These theories are the fundamental components of equilibrium theory in perfectly and imperfectly competitive markets and in monopoly, and they will be analyzed in the second part of the course. The third and final part of the course will address issues such as the analysis of information asymmetries, externalities and public goods.

Frank R.H. e Cartwright E., Microeconomia, Mc Graw-Hill, 7a edizione, 2017.

descriptive statistics
variables and their measurement
univariate distributions
describing data with tables and graphs
measures of position
variability

bivariate descriptive statistics
independence, association, correlation

probability distributions for discrete and continuous variables
sampling distributions

Inference:
estimation
hypothesis test

A. Agresti, B. Finlay
Statistical methods for the social sciences

Pearson International Edition - 4th edition 2009
Introductory statistics for business and economics
Wonnacot - Wonnacot
John Wiley&sons; International 2 revised ed.

descriptive statistics
variables and their measurement
univariate distributions
describing data with tables and graphs
measures of position
variability

bivariate descriptive statistics
independence, association, correlation

probability distributions for discrete and continuous variables
sampling distributions

Inference:
estimation
hypothesis test

A. Agresti, B. Finlay
Statistical methods for the social sciences

Pearson International Edition - 4th edition 2009
Introductory statistics for business and economics
Wonnacot - Wonnacot
John Wiley&sons; International 2 revised ed.

Course Topics

This graduate level course covers the following topics:

An overview of statistics
Data description: scales of measurement, how to describe data graphically for categorical data (pie chart, bar chart) and graphs for quantitative variables (histogram, pie chart and time plot)
How to describe data by summary statistics: measures of central tendency and variability
How to create a box plot
How probability and probability distributions are involved in statistics
How binomial distributions are involved in statistics
The role that normal distributions play in statistics
Simple random sampling and sampling distribution of sample mean, central limit theorem, normal approximation to the binomial
Differentiation between a population and a sample, how to use a statistic to estimate a population parameter, confidence interval and its interpretation, inferences of population proportion, margin of error and sample size computation
Confidence interval for population mean, Sample size needed for estimating the population mean with a specified confidence level and specified width of the interval
Hypothesis testing: in terms of how to set up Null and Alternative hypotheses, understanding Type I and Type II errors, performing a statistical test for the population mean
How to compute power of a test and choosing the sample size for testing population mean
p-value, how to compute it and how to use it
Inferences about μ with σ unknown: the t-distribution and the assumptions required to check in order to use it
How to compare the mean of two populations for independent samples: using pooled variances t-test versus separate variances t-test
How to compare the mean of two populations for paired data
How to compare two population proportions
Using contingency table and the Chi-square test of independence
Understanding concepts related to linear regression models including, least squares method, correlation, inferences about the parameters in the linear regression model

Introductory Statistics for Business and Economics by Thomas H. Wonnacott and Ronald J. Wonnacott
John Wiley & Sons Inc; International 2 Revised ed
See also: http://host.uniroma3.it/docenti/mortera/statisticaNNO/statisticaNNO.htm

This graduate level course covers the following topics:
An overview of statistics
Data description: scales of measurement, how to describe data graphically for categorical data (pie chart, bar chart) and graphs for quantitative variables (histogram, pie chart)
How to describe data by summary statistics: measures of central tendency, variability and skewness.
How to create a box plot
How probability and probability distributions are involved in statistics
How binomial distributions are involved in statistics
The role that normal distributions play in statistics
Simple random sampling and sampling distribution of sample mean, central limit theorem, normal approximation to the binomial
Differentiation between a population and a sample, how to use a statistic to estimate a population parameter, confidence interval and its interpretation, inferences of population mean and proportion
Confidence interval for population mean, Sample size needed for estimating the population mean with a specified confidence level and specified width of the interval
Hypothesis testing: in terms of how to set up Null and Alternative hypotheses, understanding Type I and Type II errors, performing a statistical test for the population mean
p-value, how to compute it and how to use it
Inferences about μ with σ unknown: the t-distribution and the assumptions required to check in order to use it
How to compare the mean of two populations for independent samples: using pooled variances t-test versus separate variances t-test
How to compare the mean of two populations for paired data
How to compare two population proportions
Using contingency table and the Chi-square test of independence
Understanding concepts related to linear regression models including, least squares method, correlation, inferences about the parameters in the linear regression model

The course the course is taught in Italian so textbooks are in Italian:
- G. Cicchitelli, Statsitica: Principi e Metodi, Pearson Education, 3/Eds
- Sebastiani M. R. (2015) “Esercitazioni di statistica”. Esculapio Editore, 3° edizione.
For English speaking students a textbook is:
Introductory Statistics for Business and Economics by Thomas H. Wonnacott and Ronald J. Wonnacott
John Wiley & Sons Inc; International 2 Revised ed
Notes and handout (in Italian) are available at the web page of the course.

The theory of Financial Reporting
Introduction
The goal of Financial Reporting
Capital and Income
Traditional Italian Theories on Income and Financial Reporting
Second Part
Introduction to Italian Accounting Standards and Laws on Financial Reporting
Balance Sheet, Income Statement, Cash Flows Statements and the Notes
The objective of general purpose financial reporting: the true and fair view
The exceptions to the application of the laws
The qualitative characteristics of useful financial information
The assets and liabilities measurement:
- Plants and equipment;
- The Depreciation process;
- The Impairment process;
- Intangible Assets;
- Goodwill;
- Interests in parent companies;
- Receivables and payables (expressed in Euro and in foreign currencies);
- Stocks;
- Financial Activities and Financial Derivatives.
Third Part
Financial Reporting for listed public companies.
The International Harmonisation of Accounting Standards
The Conceptual Framework for Financial Reporting

Materials to download on the site

In addition, one of the following texts:
Capaldo P., Reddito, capitale e bilancio di esercizio: una introduzione, Giuffrè, 1998
Onida P .; Economia d’azienda, UTET, 1971
Zanda G, Il bilancio delle società, Lineamenti teorici e modelli di redazione, Giappichelli, 2007

First Part
The theory of Financial Reporting
Introduction
The goal of Financial Reporting
Capital and Income
Traditional Italian Theories on Income and Financial Reporting
Second Part
Introduction to Italian Accounting Standards and Laws on Financial Reporting
Balance Sheet, Income Statement, Cash Flows Statements and the Notes
The objective of general purpose financial reporting: the true and fair view
The exceptions to the application of the laws
The qualitative characteristics of useful financial information
The assets and liabilities measurement:
- Plants and equipment;
- The Depreciation process;
- The Impairment process;
- Intangible Assets;
- Goodwill;
- Interests in parent companies;
- Receivables and payables (expressed in Euro and in foreign currencies);
- Stocks;
- Financial Activities and Financial Derivatives.
Third Part
Financial Reporting for listed public companies.
The International Harmonisation of Accounting Standards
The Conceptual Framework for Financial Reporting

G. ZANDA, Il bilancio delle società, Giappichelli, Torino, 2007 and the Italian law n. 136/2015.

The course is composed by modules. The first two modules include the following legal categories: sources of law; subjective juridical situations; physical and juridical persons; legal assets, real rights in re propria and in re aliena; fact, act and trade; obligations; contracts in general. The third part focuses on the forms of transfer of familial property, with particular emphasis on the discipline of family law and mortis causa succession.

- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 3ª ed., Giappichelli, 2009
- F. MACIOCE, L’obbligazione e il contratto, 3ª ed., Giappichelli, 2013
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 4ª ed., Giappichelli, 2016 (excluding sec. from 6 to 12 Chap. III; Chap. VIII and Chap. X)

The course is composed by modules. The first two modules include the following legal categories: sources of law; subjective juridical situations; physical and juridical persons; legal assets, real rights in re propria and in re aliena; fact, act and trade; obligations; contracts in general. The third part focuses on the forms of transfer of familial property, with particular emphasis on the discipline of family law and mortis causa succession.

- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 3ª ed., Giappichelli, 2009
- F. MACIOCE, L’obbligazione e il contratto, 3ª ed., Giappichelli, 2013
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 4ª ed., Giappichelli, 2016 (excluding sec. from 6 to 12 Chap. III; Chap. VIII and Chap. X)

1. PRELIMINARY CONCEPTS Money, time and risks. Present and future value, principal and interest. Contracts, exchange, prices. The risks.

2. FOUNDATIONS OF FINANCIAL CONTRACTS EVALUATION
2.1 EVALUATION IN CERTAINTY CONDITIONS Financial laws in certainty conditions. The exponential law. Annuities and mortgages. Internal rate of return on a financial transaction. Theory of financial equivalence laws.
2.2 FINANCIAL OPERATIONS IN THE MARKET. Value function and market price. The term structure. Duration indices and variability indices. Arbitrage valuations of floating rate notes. Interest Rate Swap. Term structure measurement. Term structure evolution. Introduction to financial options. Basic elements on equity options. Basic elements on traditional life insurance contracts.

David G. Luenberger
Investment Science
Oxford University Press (any edition)

Annamaria Olivieri, Ermanno Pitacco
Introduction to Insurance Mathematics
Springer, 2011

1. PRELIMINARY CONCEPTS Money, time and risks. Present and future value, principal and interest. Contracts, exchange, prices. The risks.

2. FOUNDATIONS OF FINANCIAL CONTRACTS VALUATION

2.1 VALUATION IN CERTAINTY CONDITIONS Financial laws under certainty conditions. The exponential law. Annuities and mortgages. Internal rate of return of a financial transaction. Theory of financial laws.

2.2 FINANCIAL OPERATIONS IN THE MARKET. Value function and market price. The term structure. Duration indices and variability indices. Arbitrage valuation of floating rate notes. Interest Rate Swap. Term structure measurement. Term structure evolution. Introduction to financial options. Basic elements on equity options. Basic elements on traditional life insurance contracts.

David G. Luenberger
Investment Science
Oxford University Press (any edition)

Annamaria Olivieri, Ermanno Pitacco
Introduction to Insurance Mathematics
Springer, 2011

The course analyzes the main characteristics of business management and it is divided into didactic modules.
Themes related to enterprises and entrepreneurial aims (The enterprise and its role; The enterprise and its environment )are studied in depth in the first module. Business strategies and business development paths (Business strategy management; Competitive strategies and market analysis models; business development strategies) are analyzed in the second module. In the third module business functions and business operations management, with reference in particular to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications) are studied in depth.

Sciarelli S., (2017) La gestione dell'impresa. Tra teoria e pratica aziendale, CEDAM;
Additional compulsory didactic material will be published on the course web page of the “Dipartimento di Economia Aziendale” website.

The course analyzes the main characteristics of business management and it is divided into didactic modules.
Themes related to enterprises and entrepreneurial aims (The enterprise and its role; The enterprise and its environment )are studied in depth in the first module. Business strategies and business development paths (Business strategy management; Competitive strategies and market analysis models; business development strategies) are analyzed in the second module. In the third module business functions and business operations management, with reference in particular to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications) are studied in depth.

Sciarelli S., (2017) La gestione dell'impresa. Tra teoria e pratica aziendale, CEDAM;
Additional compulsory didactic material will be published on the course web page of the “Dipartimento di Economia Aziendale” website.

The course analyzes the main characteristics of business management and it is divided into didactic modules.
Themes related to enterprises and entrepreneurial aims (The enterprise and its role; The enterprise and its environment )are studied in depth in the first module. Business strategies and business development paths (Business strategy management; Competitive strategies and market analysis models; business development strategies) are analyzed in the second module. In the third module business functions and business operations management, with reference in particular to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications) are studied in depth.

Sciarelli S., (2017) La gestione dell'impresa. Tra teoria e pratica aziendale, CEDAM;
Additional compulsory didactic material will be published on the course web page of the “Dipartimento di Economia Aziendale” website.

Technique and technology; Technical progress and economy; evolution of technology. Technological innovation: definition, classification; main theories on technological innovation; Technological innovation and effects in the short, medium and long term. Research and innovation.
Industrial automation: meaning and historical evolution. The map of industrial automation: classification criteria. Market and development of industrial automation
technology and production organization: from the steam engine to the assembly line; from mechanization to lean production through rigid and flexible automation. The integrated system and the automated system.
Relationship between organization of production processes and organization of work and company: traditional organization; enlarged; systemic; integrated.
Systems of coordination and control of company organization and current trends: from the hierarchical model to the holonic-virtual company.
Production processes: The new needs and the strategic parameters of production. Main kind of production processes: job shop process, batch, line and continuous.
Production cycles: technological, economic and environmental aspects.
Production management: Production plans. Demand forecasts. Project Management. Material management. Production control.
Production management techniques: The push and pull logic. The Just in Time logic and Lean Production. The MRP II system. The new production management models.
Quality: historical evolution; quality management and tools.

Greasley A., (2013), Operations Management, Third edition, Wiley

Technique and technology; Technical progress and economy; the evolution of technology. Technological innovation: definition, classification; main theories on technological innovation; Technological innovation and effects in the short, medium and long term. Research and innovation.
Industrial automation: meaning and historical evolution. The map of industrial automation: classification criteria. Market and development of industrial automation
technology and production organization: from the steam engine to the assembly line; from mechanization to lean production through rigid and flexible automation. The integrated system and the automated system.
Relationship between the organization of production processes and organization of work and company: traditional organization; enlarged; systemic; integrated.
Systems of coordination and control of company organization and current trends: from the hierarchical model to the holonic-virtual company.
Production processes: The new needs and the strategic parameters of production. Main kind of production processes: job shop process, batch, line and continuous.
Production cycles: technological, economic and environmental aspects.
Production management: Production plans. Demand forecasts. Project Management. Material management. Production control.
Production management techniques: The push and pull logic. The Just in Time logic and Lean Production. The MRP II system. The new production management models.
Quality: historical evolution; quality management and tools.

Greasley A., (2013), Operations Management, Third Edition, Wiley

The course, articulated in a single module, will cover the following topics:
1. The entrepreneur (of any kind).
2. The rules set forth for the commercial enterprises.
2. Companies and other business organizations.
4. The joint-stock company and the limited partnership by shares.
5. Transformation, merger and spin-off.
6. The co-operative companies, the consortia and the joint-ventures.
7. Entrepreneur’s auxiliaries; the establishment.
8. Debt securities and promissory notes.
9. Bankruptcy (general principles).

V. Buonocore (conceived by), Manuale di diritto commerciale, Torino, Giappichelli, last edition:
part I (excluding cap. III, VI e VII);
part II;
part V, sez. I e sez. II, parag. 1 e parag. 2;
part VI, sez. I.
It’s recommended studying the subject with an updated Civil Code, comprehensive of connected laws.

The course, articulated in a single module, will cover the following topics:
1. The entrepreneur (of any kind).
2. The rules set forth for the commercial enterprises.
2. Companies and other business organizations.
4. The joint-stock company and the limited partnership by shares.
5. Transformation, merger and spin-off.
6. The co-operative companies, the consortia and the joint-ventures.
7. Entrepreneur’s auxiliaries; the establishment.
8. Debt securities and promissory notes.
9. Bankruptcy (general principles).

V. Buonocore (conceived by), Manuale di diritto commerciale, Torino, Giappichelli, last edition:
part I (excluding cap. III, VI e VII);
part II;
part V, sez. I e sez. II, parag. 1 e parag. 2;
part VI, sez. I.
It’s recommended studying the subject with an updated Civil Code, comprehensive of connected laws.

Introduction to marketing management and market orientation, context analysis, consumer behavior, demand segmentation, business to business marketing, competitors analysis, marketing strategy: target, positioning and objectives, corporate strategy, decisions related to the product and service, price, distribution and communication, digital marketing, CRM, brand management and internationalization.

Peter, Donnelly, Pratesi, Marketing, McGraw Hill (most recent edition)
Kotler, Keller, Ancarani, Costabile, Marketing management, Pearson 2017

Introduction to marketing management and market orientation, context analysis, consumer behavior, demand segmentation, business to business marketing, competitors analysis, marketing strategy: target, positioning and objectives, corporate strategy, decisions related to the product and service, price, distribution and communication, digital marketing, CRM, brand management and internationalization.

Peter, Donnelly, Pratesi, Marketing, McGraw Hill (most recent edition)
Kotler, Keller, Ancarani, Costabile, Marketing management, Pearson 2017

module 1: raw materials, dematerialization resources
international exchange of goods
product classification
european union and customs legislation
destinations and customs regimes
introduction to the quality of goods and accreditation systems

module 2: food sector
eu food policies
food industry: production and consumption in italy
the agri-food chain: traceability and traceability of the product
labeling: birth and evolution of the legislation
quality of safety in the food sector: haccp
name and public brands: typical local products
pac and fischer reform

module 3: textile sector
the fashion system and the italian textile sector
high fashion and made in italy
labeling of textile papers
certifications diquality and made in italy

module 4: energy sector
economy and sustainability
objectives of environmental dicompatibility
energetic products labeling
environmental digestion system (iso 14001)

A copy of the slides used during lecturers and useful papers will be provided for free by the teacher.

Material for additional and deeper informations will be provided for free during the course, if required

Module 1: RAW MATERIALS, DEMATERIALIZATION RESOURCES
INTERNATIONAL EXCHANGE OF GOODS
PRODUCT CLASSIFICATION
EUROPEAN UNION AND CUSTOMS LEGISLATION
DESTINATIONS AND CUSTOMS REGIMES
INTRODUCTION TO THE QUALITY OF GOODS AND ACCREDITATION SYSTEMS

Module 2: FOOD SECTOR
EU FOOD POLICIES
FOOD INDUSTRY: PRODUCTION AND CONSUMPTION IN ITALY
THE AGRI-FOOD CHAIN: TRACEABILITY AND TRACEABILITY OF THE PRODUCT
LABELING: BIRTH AND EVOLUTION OF THE LEGISLATION
QUALITY OF SAFETY IN THE FOOD SECTOR: HACCP
NAME AND PUBLIC BRANDS: TYPICAL LOCAL PRODUCTS
PAC AND FISCHER REFORM

Module 3: TEXTILE SECTOR
THE FASHION SYSTEM AND THE ITALIAN TEXTILE SECTOR
HIGH FASHION AND MADE IN ITALY
LABELING OF TEXTILE PAPERS
CERTIFICATIONS DIQUALITY AND MADE IN ITALY

Module 4: ENERGY SECTOR
ECONOMY AND SUSTAINABILITY
OBJECTIVES OF ENVIRONMENTAL DICOMPATIBILITY
ENERGETIC PRODUCTS LABELING
ENVIRONMENTAL DIGESTION SYSTEM (ISO 14001)

Balestrieri F., Marini D. (2007). Commercio Internazionale – Normativa Comunitaria e Procedure Doganali. Franco Angeli, Milano, pag. 93-115, 131-142.
Amodeo G.U., D’Ascenzo F. (2006). Classificazione delle merci e operazioni doganali. Aracne Editrice, Roma, pag. 27-78.
Buffagni, Burchi, Gallio, Tarabella, Varese “ Consumatori e imprese: la disciplina delle informazioni sugli alimenti” GiappichelliEditore
Tola“Strategie, metodi e strumenti per lo sviluppo dei territori rurali” Franco Angeli
Del Signore A., Canfora M.Parte III “La qualità e la sicurezza nel settore alimentare” (2010), “La gestione della qualità”, Franco Angeli, Milano.
Dispense ed articoli in aula

Module I (prof Marchiori Michela)
1. Introduction: the characteristics of the field of study and the specificities of "Business Organization"
2. The organizational literature: an outline of the history of organizational thought.
3. The organizational design choices (organizational design): the levels of analysis and intervention
4. Design choices for work design A theoretical study: the analysis and discussion of the theory of the Scientific Organization of Labor by Frederick Taylor
4.2 The reassembly of the divided work: the job redesign aapporach and the sociotechnical approach

4.3 The theories behind post-Fordist approaches: Human Relation; Human Resource; sociotechnical approach

4.4 The new forms of work organization: Industry 4.0 and Smart work

5. Personnel management

5.1 Phases, activities and methodologies

5.2 Actors of the human resources management

5.3 The analysis of positions: tools and methods adopted in business practice
6. Work process design choices (inter-organizational relations): post-Fordism solutions and organizational techniques ... see module II program
7. Design choices of the organizational structure (business structure)
7.1 The problem of choosing the "formal configuration" of the organization: the origins of the topic in the literature
7.2 Traditional organizational structures: the functional structure, the divisional structure (the M form), the matrix structure.
7.3. The "post-Fordist" organizational structures: the process structure, the modular structure, the internal network.
7.4 Business groups and Holding companies
8. Design choices of organizational boundaries
8.1 The problem of the "boundaries" of the firm : origins and evolution of the literature on the subject
8.2 Outsourcing choices
8.3. Alliances and collaboration agreements between companies (motivations and contractual forms)
8.4 Business networks (outline)

Attending students
1) Marchiori Michela “Lecture notes on Business Organization course. Module I Academic Year 2019-2020 "
2) Albano Valentina “Lecture notes on Business Organization course. Module II Academic Year 2019-2020 "

Non-attending students
1) Marchiori Michela “Lecture notes on Business Organization course. Module I AA 2019-2020 "
2) Albano Valentina “Lecture notes on Business Organization course. Module II AA 2019-2020"
3) Masino Giovanni, Le imprese oltre il fordismo , Carocci, 2005 pagg. 7- 87 (excluding 71-77)

N.B The lecture notes on Business Organization course are valid for both attending and non-attending students and are available at the Library of Economics in Rome3 University via Silvio dʼamico 77 00145 Roma

Module I (prof Marchiori Michela)
1. Introduction: the characteristics of the field of study and the specificities of "Business Organization"
2. The organizational literature: an outline of the history of organizational thought.
3. The organizational design choices (organizational design): the levels of analysis and intervention
4. Design choices for work design A theoretical study: the analysis and discussion of the theory of the Scientific Organization of Labor by Frederick Taylor
4.2 The reassembly of the divided work: the job redesign aapporach and the sociotechnical approach

4.3 The theories behind post-Fordist approaches: Human Relation; Human Resource; sociotechnical approach

4.4 The new forms of work organization: Industry 4.0 and Smart work

5. Personnel management

5.1 Phases, activities and methodologies

5.2 Actors of the human resources management

5.3 The analysis of positions: tools and methods adopted in business practice
6. Work process design choices (inter-organizational relations): post-Fordism solutions and organizational techniques ... see module II program
7. Design choices of the organizational structure (business structure)
7.1 The problem of choosing the "formal configuration" of the organization: the origins of the topic in the literature
7.2 Traditional organizational structures: the functional structure, the divisional structure (the M form), the matrix structure.
7.3. The "post-Fordist" organizational structures: the process structure, the modular structure, the internal network.
7.4 Business groups and Holding companies
8. Design choices of organizational boundaries
8.1 The problem of the "boundaries" of the firm : origins and evolution of the literature on the subject
8.2 Outsourcing choices
8.3. Alliances and collaboration agreements between companies (motivations and contractual forms)
8.4 Business networks (outline)

Attending students
1) Marchiori Michela “Lecture notes on Business Organization course. Module I Academic Year 2019-2020 "
2) Albano Valentina “Lecture notes on Business Organization course. Module II Academic Year 2019-2020 "

Non-attending students
1) Marchiori Michela “Lecture notes on Business Organization course. Module I AA 2019-2020 "
2) Albano Valentina “Lecture notes on Business Organization course. Module II AA 2019-2020"
3) Masino Giovanni, Le imprese oltre il fordismo , Carocci, 2005 pagg. 7- 87 (excluding 71-77)

N.B The lecture notes on Business Organization course are valid for both attending and non-attending students and are available at the Library of Economics in Rome3 University via Silvio dʼamico 77 00145 Roma