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.

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, seconda edizione, Giappichelli, 2021

Second part: ACCRUAL ACCOUNTING
Paoloni M., Celli, M. (a cura di), Introduzione alla contabilità generale (2^edizione), CEDAM, 2020 (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 contabilità, 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

Part I: Business economics
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).

Part II. Double-entry book-keeping under accrual accounting
1) Accounting as an information system
2) Accounting entries; double-entry book-keeping and its application to the determination of profit; recording purchases and sales; recording the payment and collection of money; recording the remuneration of labor; the closing entries

Part I: Business economics:
Paoloni M., Paoloni P. (eds.), Introduzione ed orientamento allo studio delle aziende, Giappichelli, 2021 (pp. 1-132; 163-172; 186-190)

Part II: Le rilevazioni in contabilità economico-patrimoniale:
Paoloni M., Celli, M. (eds.), Introduzione alla contabilità generale, CEDAM, 2020 (pp. 3-121; pp. 133-181; pp. 183-263; pp. 277-281; pp. 286-322; pp. 334-348; pp. 377-385; pp. 390-451)

To train in the esercises on double-entry bookkeping, business economics, and accounting: Paoloni M. (ed.), Mattei G., Paoloni N., Eserciziario di economia aziendale e contabilita’, CEDAM, 2018

GENERAL MATHEMATICS PROGRAM a.a 2021-2022
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

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/

GENERAL MATHEMATICS PROGRAM a.a 2021-2022
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

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.

The legal system - The form of government - The system of sources - The constitutional level: the Constitution, the constitutional review laws and other constitutional laws - Constituted power and constituent power - Sources of primary level - The sources of secondary level - The sources of the European Union - The organization of the Parliament - The Government - The President of the Republic - The Constitutional Court - The Judiciary - Territorial autonomies - Public administration and administrative activity - Constitutional rights and freedoms

Exam for 9 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, excluding the following parts:
CAP. I, §7
CAP. II, §§ 14, 15 e 16
CAP. III, §§ 3, 7 e 10
CAP. IV, § 11
CAP. VII, § 7
CAP. IX, §§ 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1 e 7
CAP. XII §§ 8, 9, 10 e 11.

Exam for 6 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, excluding the following parts:
CAP. I, §§ 7, 9 (except pp. 99-105) e 10
CAP. II, §§ 11 (except pp. 213-222), 13 (except pp. 239-243), 14, 15 e 16
CAP. III, §§ 1, 2, 3, 7 e 10
CAP. IV, §§ 1 e 11
CAP. V, §§ 1 e 7
CAP. VII, §§ 1 e 7
CAP. VIII, §§ 3
CAP. IX, §§ 3, 4, 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1, 4.1, 6 (except pp. 756-760) e 7
CAP. XII §§ 1, 2, 3, 4, 8, 9, 10, 11 e 12.

The legal system - The form of government - The system of sources - The constitutional level: the Constitution, the constitutional review laws and other constitutional laws - Constituted power and constituent power - Sources of primary level - The sources of secondary level - The sources of the European Union - The organization of the Parliament - The Government - The President of the Republic - The Constitutional Court - The Judiciary - Territorial autonomies - Public administration and administrative activity - Constitutional rights and freedoms

Exam for 9 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, con esclusione delle seguenti parti:
CAP. I, §7
CAP. II, §§ 14, 15 e 16
CAP. III, §§ 3, 7 e 10
CAP. IV, § 11
CAP. VII, § 7
CAP. IX, §§ 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1 e 7
CAP. XII §§ 8, 9, 10 e 11.

Exam for 6 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, con esclusione delle seguenti parti:
CAP. I, §§ 7, 9 (escluse solo pp. 99-105) e 10
CAP. II, §§ 11 (escluse solo pp. 213-222), 13 (escluse solo pp. 239-243), 14, 15 e 16
CAP. III, §§ 1, 2, 3, 7 e 10
CAP. IV, §§ 1 e 11
CAP. V, §§ 1 e 7
CAP. VII, §§ 1 e 7
CAP. VIII, §§ 3
CAP. IX, §§ 3, 4, 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1, 4.1, 6 (escluse solo pp. 756-760) e 7
CAP. XII §§ 1, 2, 3, 4, 8, 9, 10, 11 e 12.

Order, Law, State. Subjective legal situations. Freedom rights and social rights. The right to protection of personal data. The principle of legality. The legal reserve. The sources of law. The division of responsibilities between the State and the Regions. Italy and the European Union. The organization of public authorities. Parliament and the legislative process. The forms of government. The Government in the Italian constitutional system. Public Administration. The president of the Republic. Independent administrative authorities. The general law on administrative proceedings. Acts and provisions of the public administration. The right of access to administrative documents. Public services. Public evidence procedures. Territorial autonomies and the rules of administrative action. Judicial protection of rights and interests. Constitutional justice. The CNEL, the State Council and the Court of Auditors

1) F. Modugno (a cura di), Diritto pubblico, Giappichelli ed.

as an alternative

T. Groppi – A. Simoncini, Introduzione allo studio del diritto pubblico e delle sue fonti, Giappichelli ed.

2) Lecture notes prepared by the professor and available in Formonline about legal sources of the administrative activities (Law no. 241 of 1990 and its institutes: The phases of the administrative procedure; The deadline for completing the proceedings; The justification for the provision; The person responsible for the procedure; The silence of the public administration; The participation of private individuals in the proceedings and the investigative means; Effectiveness and validity of administrative acts; The defects of the administrative act; etcetera)

The legal system - The form of government - The system of sources - The constitutional level: the Constitution, the constitutional review laws and other constitutional laws - Constituted power and constituent power - Sources of primary level - The sources of secondary level - The sources of the European Union - The organization of the Parliament - The Government - The President of the Republic - The Constitutional Court - The Judiciary - Territorial autonomies - Public administration and administrative activity - Constitutional rights and freedoms

STUDENTS HAVE TO ACHIEVE 9 CFU:
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, except:
CAP. I, §7
CAP. II, §§ 14, 15 e 16
CAP. III, §§ 3, 7 e 10
CAP. IV, § 11
CAP. VII, § 7
CAP. IX, §§ 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1 e 7
CAP. XII §§ 8, 9, 10 e 11.

STUDENTS HAVE TO ACHIEVE 6 CFU:
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, except:
CAP. I, §§ 7, 9 (except just pp. 99-105) e 10
CAP. II, §§ 11 (except just pp. 213-222), 13 (except just pp. 239-243), 14, 15 e 16
CAP. III, §§ 1, 2, 3, 7 e 10
CAP. IV, §§ 1 e 11
CAP. V, §§ 1 e 7
CAP. VII, §§ 1 e 7
CAP. VIII, §§ 3
CAP. IX, §§ 3, 4, 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1, 4.1, 6 (except just pp. 756-760) e 7
CAP. XII §§ 1, 2, 3, 4, 8, 9, 10, 11 e 12.

Part I– Microeconomics: I. Economic Choice; II. Goods and services; III. Markets; IV. Economic equilibrium; V. Demand; VI. Supply; VII. Perfect competition; VIII. Imperfect competition; IX. Labor market; X. Factor markets.
Part II – Macroeconomics: I. National accounting; II. The Income-expenditure model; III. Money and financial markets; IV. The IS-LM model; V. Demand-side policies; VI. Inflation and unemployment; VII. Economic growth; VIII. The open economy.

Saltari, Enrico, Giovanni Di Bartolomeo, and Riccardo Tilli. Principi di economia politica. Carocci, 2019.

Blanchard, Olivier, Alessia AMIGHINI, and Francesco Giavazzi. "Macroeconomia. Una prospettiva europea." (2020).

Part I– Microeconomics: I. Economic Choice; II. Goods and services; III. Markets; IV. Economic equilibrium; V. Demand; VI. Supply; VII. Perfect competition; VIII. Imperfect competition; IX. Labor market; X. Factor markets.
Part II – Macroeconomics: I. National accounting; II. The Income-expenditure model; III. Money and financial markets; IV. The IS-LM model; V. Demand-side policies; VI. Inflation and unemployment; VII. Economic growth; VIII. The open economy.

Saltari, Enrico, Giovanni Di Bartolomeo, and Riccardo Tilli. Principi di economia politica. Carocci, 2019.

Blanchard, Olivier, Alessia AMIGHINI, and Francesco Giavazzi. "Macroeconomia. Una prospettiva europea." (2020).

Part I - Introduction and National accounts
0. Introduction to economics. Organization of the class
1. National accounts
2. Numbers of the economy
Part II - Macroeconomics (short run, closed economy)
3. Income-expenditure model in a closed economy
4. Money and financial markets
5. IS-LM model in a closed economy
Part III - Microeconomics
6. Consumption
7. Production and costs
8. Perfect competition
9. Monopoly
10. Monopolistic competition, oligopoly, introduction to game theory
11. Free competition and prices
12. Further topics in microeconomics: market failures, uncertainty, asymmetric information, antitrust policies, regulation of natural monopolies, network externalities
13. Labor market
14. Wages
Part V – Macroeconomics (medium and long run, closed economy)
15. Demand and supply policies
16. Inflation and unemployment
17. Recession, inflation, deflation
18. Monetary policy rules, algebra of public debt
19. Economic growth
Part V – Open economy
20. Balance of payments and exchange rates
21. Income-expenditure model in an open economy
22. IS-LM model in an open economy
23. Exchange rates regimes, European Economic and Monetary Union

O. Blanchard, A. Amighini, F. Giavazzi, Macroeconomia, Il Mulino, last edition, cap. 1, 2, 3, 4, 5, 7, 8, 10, 11, 17, 18, 19, 20
R. H. Frank, Microeconomia, McGraw Hill Italia, last edition, cap. 3, 4, 6.2, 6.4.1, 6.4.2, 9, 10, 11, 12, 13.4, 13.5, 13.6.1, 15.2, 15.7
The basic materials for studying are contained in the slide of the lectures, available on the Moodle site of the course

Part I
1. Introduction

Parte II. Microeconomics
3. Consumer theory
4. Production theory
5. Game theory and economics of information
6. Market structure
7. Economic agents behaviour

Part II. Macroeconomics
8. The wealth of nations
9. Growth theory
10. Employment and unemployment
11. Monetary system
12. International trade
13. Open economy

The contents of this course can be found on any microeconomics and macroeconomics textbook for undergraduates.
This course will be mostly based on:
[ALL] Acemoglu, D., D. Laibson, J.A. List (2020). Principi di economia politica. Teoria ed evidenza empirica. 2a ed., Pearson.

Other suggested readings:
[SNB] Samuelson, P.A., D.W. Nordhaus, C.A. Bollino (2006). Economia. Mc Graw Hill, XXI ed.
[BBZ] Becchetti, L., L. Bruni, S. Zamagni (2014). Microeconomia. Un testo di economia civile. Il Mulino.
[BAG] Blanchard, O., A. Amighini, F. Giavazzi (2020). Macroeconomia. Una prospettiva Europea. Il Mulino.

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, regression

A. Agresti, B. Finlay. Statistical methods for the social sciences. Pearson International Edition-4th edition (2009)

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, regression

A. Agresti, B. Finlay. Statistical methods for the social sciences. Pearson International Edition-4th edition (2009)

Descriptive statistics:
variables and their measurement, univariate distributions, describing data with tables and graphs, measures of position, variability, regression.
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)

Introduction
1. Hardware and software
2. Data storage and processing
3. Operating system
4. Networking and Internet
5. Algorithms

Word processing

Data sheet

No text book is required. Materials and useful links will be provided during the classes.

Module I - The theory of financial statements

Introduction to the study of financial statements.
The basic functions of financial statements.
The nature of operating income and working capital.
The purposes that can be assigned to financial statements.
Relationship between income, valuation criteria and purposes of financial statements.
The purposes of the financial statements in the business doctrine: the "alpha" and "beta" purposes.

Module II - The Financial Statements in the Civil Code

The documents of the balance sheet - Structure and content (art. 2423-ter - 2425 Civil Code)
The general clause and the principles for drawing up the financial statements (articles 2423 - 2423-bis Civil Code)
Special valuation criteria (art. 2426 Civil Code)
Tangible fixed assets
Intangible fixed assets
Securities and Equity Investments
Receivables
Assets and liabilities in foreign currency
Inventories (Lifo, Fifo, Cmp)
Contract work in progress
The contents of the Explanatory Notes and the Management Report on Operations

Module III - Accounting

Closing entries, general closing and reopening of accounts
Fixed assets - Accounting based on amortization, depreciation, write-downs and reinstatement of value
Equity investments - Accounting with the historical cost method and equity method
Foreign currency transactions - Accounting treatment
Inventories and contract work in progress - Accounting treatment

Module IV - Fundamentals of financial statement analysis

Modules I e II: Tutino M. (2017), Bilancio e nuovi OIC, Cedam
Module III: Paoloni M., Celli M. (2012), Introduzione alla contabilità generale, Cedam.
Module IV: Paolucci G. (2016), Analisi di bilancio, Hoepli.

Teaching materials available to students on the course web pages

Modul I - Financial reporting

Introduction to the financial reporting study
The basic functions of financial reporting
The nature of income and working capital
The attributable purposes of financial reporting
Relationship between income, evaluation criteria and purposes of financial reporting
The purposes of the financial reporting in the business administration literature: the "alpha" and "beta" purposes

Module II - The Financial Reporting in the Civil Code
From accounting to financial reporting (Closing entries, general closing and reopening of accounts)
The documents of the financial reporting: balance sheet, financial statement and cash flow statement: structure and content (artt. 2423-ter – 2425 c.c. – 2425 ter c.c.)
The general clause and the principles for drawing up the financial reporting (articles 2423 - 2423-bis Civil Code)
Special valuation criteria (art. 2426 Civil Code)
Tangible and intangible fixed assets
Securities and Equity Investments
Receivables
Assets and liabilities in foreign currency
Inventories (Lifo, Fifo, Cmp)
Contract work in progress
The contents of the Notes and the Management Report

Module III - harmonisation accounting process (IAS/IFRS)

Zanda G. (Il bilancio delle società, Giappichelli, Torino, 2007 (integrato con il vigente Codice civile, artt. dal 2423 al 2429 compresi)
Tutino M. (2017), Bilancio e nuovi OIC, Cedam
Paoloni M., Celli M. (2012), Introduzione alla contabilità generale, Cedam.

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
The Sustainability Reporting

T.R. Ittelson, Financial Statements, Career Pr Inc., 2022.

The subject of the course is the system of private law as resulting from national (civil code and Constitution) and supranational (especially euro unitary) sources. The study, in particular, will include: sources of law - subjective juridical situations - natural persons and entities - assets, property, other real rights - obligations - legal transactions and contracts - family and mortis causa succession - protection of rights and non-contractual liability.

It is recommended to prepare the exam with the combined study of the following texts:
- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)
Moreover it is indispensable the use of an updated civil code.

As an alternative to the indicated texts, it is also possible to prepare the exam using an updated manual.
Among the manuals on the market, it is advisable one of:
- TORRENTE-SCHLESINGER, Manuale di diritto privato, Giuffrè, latest edition
- TRABUCCHI, Istituzioni di diritto civile, Cedam, latest edition
- PERLINGIERI, Istituzioni di diritto civile, Esi, latest edition
- GAZZONI, Manuale di diritto privato, Esi, latest edition
In any case, it is essential to use an updated civil code.

The subject of the course is the system of private law as resulting from national (civil code and Constitution) and supranational (especially euro unitary) sources. The study, in particular, will include: sources of law - subjective juridical situations - natural persons and entities - assets, property, other real rights - obligations - legal transactions and contracts - family and mortis causa succession - protection of rights and non-contractual liability.

It is recommended to prepare the exam with the combined study of the following texts:
- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)
Moreover it is indispensable the use of an updated civil code.

As an alternative to the indicated texts, it is also possible to prepare the exam using an updated manual.
Among the manuals on the market, it is advisable one of:
- TORRENTE-SCHLESINGER, Manuale di diritto privato, Giuffrè, latest edition
- TRABUCCHI, Istituzioni di diritto civile, Cedam, latest edition
- PERLINGIERI, Istituzioni di diritto civile, Esi, latest edition
- GAZZONI, Manuale di diritto privato, Esi, latest edition
In any case, it is essential to use an updated civil code.

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, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)

The subject of the course is the system of private law as resulting from national (civil code and Constitution) and supranational (especially euro unitary) sources. The study, in particular, will include: sources of law - subjective juridical situations - natural persons and entities - assets, property, other real rights - obligations - legal transactions and contracts - family and mortis causa succession - protection of rights and non-contractual liability.

It is recommended to prepare the exam with the combined study of the following texts:
- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)
Moreover it is indispensable the use of an updated civil code.

As an alternative to the indicated texts, it is also possible to prepare the exam using an updated manual.
Among the manuals on the market, it is advisable one of:
- TORRENTE-SCHLESINGER, Manuale di diritto privato, Giuffrè, latest edition
- TRABUCCHI, Istituzioni di diritto civile, Cedam, latest edition
- PERLINGIERI, Istituzioni di diritto civile, Esi, latest edition
- GAZZONI, Manuale di diritto privato, Esi, latest edition
In any case, it is essential to use an updated civil code.

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. (2023), Financial Markets and Institutions, tenth edition, Pearson.

The main contents of the course are:

1. The financial system, the real system and intermediation
2. Theories of financial intermediation
3. The typical risks of financial intermediation
4. Financial instruments
5. Financial markets
6. Credit intermediation
7. Securities brokerage
8. Insurance intermediation
9. Strategy and organization of financial intermediation activities
10. Regulation in the financial system
11. Protection of consumers of financial services
12. Monetary policy and credit control
13. Payment systems
14. Fintech

Nadotti, L., Porzio, C., Previati, D. Economia degli intermediari finanziari. McGraw-Hill, 4/ED (2022)

Introduction.
Banking intermediation theories
The real system and the financial system
Functions and structure of the financial system
The typical risks of financial intermediaries (1)
The typical risks of financial intermediaries (2)
Financial instruments and their classification
Payment instruments
Debt instruments elements of yield and risk assessment
Debt instruments: review
Participation instruments
Insurance instruments and derivative instruments
Insurance instruments and derivative instruments: review
Financial markets.
The architecture of financial supervision
Securities intermediation and its regulation
Securities intermediation and its regulation

Nadotti, L., Porzio, C., Previati, D. (2022). Economia degli intermediari finanziari. McGraw-Hill, Quarta 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., (XII ed. 2022) La gestione dell’impresa. Tra teoria e pratica aziendale, CEDAM;

The course analyzes the main characteristics of business management, and it is divided into didactic modules. In the first module students will deep dive into themes related to enterprises and entrepreneurial aims: The enterprise and its role; The enterprise and its environment.. 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 to management techniques and assessment techniques of business efficiency (Production; Finance; Marketing; Management techniques and applications).

For both attending and not-attending students:
 Sciarelli S., (XII ed. 2022) La gestione dell’impresa. Tra teoria e pratica aziendale, CEDAM; ALL except chapter 18.

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

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

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 – Financial Statement Analysis and Debt Sustainability
The module is divided into three interconnected sub-modules.
Sub-module A addresses the issue of capital structure, with reference to debt monitoring tools in the context of financial restructuring as well as post-restructuring alternatives.
Sub-module B analyzes the criteria and the new guidelines for assessing the creditworthiness of a company, focusing on the tools and techniques for analyzing company data as well as on alert indicators for monitoring company financial dynamics.
Sub-module C proposes an in-depth analysis on derivative instruments for hedging purposes in the financial statements of companies, taking into account the assessments necessary to verify their effectiveness. The valuation elements in the absence of listing on the markets as regards unlisted bonds are the subject of in-depth analysis.
Classroom exercises are planned.

Course material
E-Book to download from course website (Moodle)

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
Tutino M., Ranciaro V. (2020), Innovation in Financial Restructuring. Focus on Signals, Processes and Tools, Sumy, Ukraine, Virtus Interpress

Introduction
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

Part One:
G. Paolucci, Analisi di bilancio e finanziaria. Logica, finalità e modalità applicative, Franco Angeli, quinta edizione, 2021 ( o in alternativa G. Ferrero – F. Dezzani – P. Pisoni – L. Puddu, Le analisi di bilancio – indici e flussi, Giuffrè).
F. Manni – A. Faccia, Financial Accounting, ARACNE, 2019.
Part Two:
G. Zanda. - M. Lacchini - T. Onesti, La valutazione delle aziende, Giappichelli.

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).

L. De Angelis (edited by), Diritto commerciale, Wolters Kluwers/Cedam, last edition.
pages 1-93
pages 125-134
pages 137-709
pages 777-828
pages 887-922


V. Buonocore (conceived by), Manuale di diritto commerciale, Torino, Giappichelli, last edition, 2020:
pages 7-63
pages 103-126
pages 163-180
pages 181-700
pages 985-1044
pages 1045-1074
pages 1150-1164

It’s recommended studying the subject with an updated Civil Code, comprehensive of connected laws.

Scope of the external auditing.
Preparing the work of auditing, the general auditing standards. Non Auditing services.
Internal control system: its nature, objectives and features. COSO (Committee of Sponsoring Organizations) report model. The ERM (Enterprise Risk Management) framework: an integrated approach towards risk management.
ERM and ESG-related risks reports. The auditor among the other governance bodies in italian companies.
The legislative environment. Italian and international auditing standards. Annual report content according to Italian discipline. CONSOB statements.
Auditing methodology: process oriented approach. Internal control over financial reporting. The audit activity on the main company processes.
Significance and materiality.
Work charts.
Auditor responsibility. Audit procedures and evidences.
Audit quality.
Audit activity: it concerns.
Examples on the activity over main financial reporting accounts.
The audit report.
Fraud auditing .
Independence anc ethics.
Auditing in groups.
Audit in M&A.
Integrated reporting: the role of the auditors.

Supplementary and possible issue:
Non financial disclosure and the role of auditors

BOSONI E, FELLEGARA A., Manuale di revisione legale. Logiche e strumenti, Torino Giappichelli, 2020

More
Italian standard of Auditing: statements n. 200 – 210 – 220 – 240 – 250 – 250B – 260 – 265 – 300 – 315 – 320 – 330 – 402 – 450 – 500 – 501 – 510 – 520 – 530 – 540 – 550 – 560 – 570 – 580 – 600 – 610 – 620 – 700 – 701 – 702 – 705 – 706 – 710 – 720 – 720B – International Standard of Quality Control (Italy) ISQC1

Supplementary documents provided by the professor.

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.

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 MATHEMATICS PROGRAM a.a 2021-2022
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

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/

GENERAL MATHEMATICS PROGRAM a.a 2021-2022
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

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.

The legal system - The form of government - The system of sources - The constitutional level: the Constitution, the constitutional review laws and other constitutional laws - Constituted power and constituent power - Sources of primary level - The sources of secondary level - The sources of the European Union - The organization of the Parliament - The Government - The President of the Republic - The Constitutional Court - The Judiciary - Territorial autonomies - Public administration and administrative activity - Constitutional rights and freedoms

Exam for 9 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, excluding the following parts:
CAP. I, §7
CAP. II, §§ 14, 15 e 16
CAP. III, §§ 3, 7 e 10
CAP. IV, § 11
CAP. VII, § 7
CAP. IX, §§ 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1 e 7
CAP. XII §§ 8, 9, 10 e 11.

Exam for 6 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, excluding the following parts:
CAP. I, §§ 7, 9 (except pp. 99-105) e 10
CAP. II, §§ 11 (except pp. 213-222), 13 (except pp. 239-243), 14, 15 e 16
CAP. III, §§ 1, 2, 3, 7 e 10
CAP. IV, §§ 1 e 11
CAP. V, §§ 1 e 7
CAP. VII, §§ 1 e 7
CAP. VIII, §§ 3
CAP. IX, §§ 3, 4, 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1, 4.1, 6 (except pp. 756-760) e 7
CAP. XII §§ 1, 2, 3, 4, 8, 9, 10, 11 e 12.

The legal system - The form of government - The system of sources - The constitutional level: the Constitution, the constitutional review laws and other constitutional laws - Constituted power and constituent power - Sources of primary level - The sources of secondary level - The sources of the European Union - The organization of the Parliament - The Government - The President of the Republic - The Constitutional Court - The Judiciary - Territorial autonomies - Public administration and administrative activity - Constitutional rights and freedoms

Exam for 9 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, con esclusione delle seguenti parti:
CAP. I, §7
CAP. II, §§ 14, 15 e 16
CAP. III, §§ 3, 7 e 10
CAP. IV, § 11
CAP. VII, § 7
CAP. IX, §§ 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1 e 7
CAP. XII §§ 8, 9, 10 e 11.

Exam for 6 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, con esclusione delle seguenti parti:
CAP. I, §§ 7, 9 (escluse solo pp. 99-105) e 10
CAP. II, §§ 11 (escluse solo pp. 213-222), 13 (escluse solo pp. 239-243), 14, 15 e 16
CAP. III, §§ 1, 2, 3, 7 e 10
CAP. IV, §§ 1 e 11
CAP. V, §§ 1 e 7
CAP. VII, §§ 1 e 7
CAP. VIII, §§ 3
CAP. IX, §§ 3, 4, 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1, 4.1, 6 (escluse solo pp. 756-760) e 7
CAP. XII §§ 1, 2, 3, 4, 8, 9, 10, 11 e 12.

Order, Law, State. Subjective legal situations. Freedom rights and social rights. The right to protection of personal data. The principle of legality. The legal reserve. The sources of law. The division of responsibilities between the State and the Regions. Italy and the European Union. The organization of public authorities. Parliament and the legislative process. The forms of government. The Government in the Italian constitutional system. Public Administration. The president of the Republic. Independent administrative authorities. The general law on administrative proceedings. Acts and provisions of the public administration. The right of access to administrative documents. Public services. Public evidence procedures. Territorial autonomies and the rules of administrative action. Judicial protection of rights and interests. Constitutional justice. The CNEL, the State Council and the Court of Auditors

1) F. Modugno (a cura di), Diritto pubblico, Giappichelli ed.

as an alternative

T. Groppi – A. Simoncini, Introduzione allo studio del diritto pubblico e delle sue fonti, Giappichelli ed.

2) Lecture notes prepared by the professor and available in Formonline about legal sources of the administrative activities (Law no. 241 of 1990 and its institutes: The phases of the administrative procedure; The deadline for completing the proceedings; The justification for the provision; The person responsible for the procedure; The silence of the public administration; The participation of private individuals in the proceedings and the investigative means; Effectiveness and validity of administrative acts; The defects of the administrative act; etcetera)

The legal system - The form of government - The system of sources - The constitutional level: the Constitution, the constitutional review laws and other constitutional laws - Constituted power and constituent power - Sources of primary level - The sources of secondary level - The sources of the European Union - The organization of the Parliament - The Government - The President of the Republic - The Constitutional Court - The Judiciary - Territorial autonomies - Public administration and administrative activity - Constitutional rights and freedoms

STUDENTS HAVE TO ACHIEVE 9 CFU:
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, except:
CAP. I, §7
CAP. II, §§ 14, 15 e 16
CAP. III, §§ 3, 7 e 10
CAP. IV, § 11
CAP. VII, § 7
CAP. IX, §§ 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1 e 7
CAP. XII §§ 8, 9, 10 e 11.

STUDENTS HAVE TO ACHIEVE 6 CFU:
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, except:
CAP. I, §§ 7, 9 (except just pp. 99-105) e 10
CAP. II, §§ 11 (except just pp. 213-222), 13 (except just pp. 239-243), 14, 15 e 16
CAP. III, §§ 1, 2, 3, 7 e 10
CAP. IV, §§ 1 e 11
CAP. V, §§ 1 e 7
CAP. VII, §§ 1 e 7
CAP. VIII, §§ 3
CAP. IX, §§ 3, 4, 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1, 4.1, 6 (except just pp. 756-760) e 7
CAP. XII §§ 1, 2, 3, 4, 8, 9, 10, 11 e 12.

Part I– Microeconomics: I. Economic Choice; II. Goods and services; III. Markets; IV. Economic equilibrium; V. Demand; VI. Supply; VII. Perfect competition; VIII. Imperfect competition; IX. Labor market; X. Factor markets.
Part II – Macroeconomics: I. National accounting; II. The Income-expenditure model; III. Money and financial markets; IV. The IS-LM model; V. Demand-side policies; VI. Inflation and unemployment; VII. Economic growth; VIII. The open economy.

Saltari, Enrico, Giovanni Di Bartolomeo, and Riccardo Tilli. Principi di economia politica. Carocci, 2019.

Blanchard, Olivier, Alessia AMIGHINI, and Francesco Giavazzi. "Macroeconomia. Una prospettiva europea." (2020).

Part I– Microeconomics: I. Economic Choice; II. Goods and services; III. Markets; IV. Economic equilibrium; V. Demand; VI. Supply; VII. Perfect competition; VIII. Imperfect competition; IX. Labor market; X. Factor markets.
Part II – Macroeconomics: I. National accounting; II. The Income-expenditure model; III. Money and financial markets; IV. The IS-LM model; V. Demand-side policies; VI. Inflation and unemployment; VII. Economic growth; VIII. The open economy.

Saltari, Enrico, Giovanni Di Bartolomeo, and Riccardo Tilli. Principi di economia politica. Carocci, 2019.

Blanchard, Olivier, Alessia AMIGHINI, and Francesco Giavazzi. "Macroeconomia. Una prospettiva europea." (2020).

Part I - Introduction and National accounts
0. Introduction to economics. Organization of the class
1. National accounts
2. Numbers of the economy
Part II - Macroeconomics (short run, closed economy)
3. Income-expenditure model in a closed economy
4. Money and financial markets
5. IS-LM model in a closed economy
Part III - Microeconomics
6. Consumption
7. Production and costs
8. Perfect competition
9. Monopoly
10. Monopolistic competition, oligopoly, introduction to game theory
11. Free competition and prices
12. Further topics in microeconomics: market failures, uncertainty, asymmetric information, antitrust policies, regulation of natural monopolies, network externalities
13. Labor market
14. Wages
Part V – Macroeconomics (medium and long run, closed economy)
15. Demand and supply policies
16. Inflation and unemployment
17. Recession, inflation, deflation
18. Monetary policy rules, algebra of public debt
19. Economic growth
Part V – Open economy
20. Balance of payments and exchange rates
21. Income-expenditure model in an open economy
22. IS-LM model in an open economy
23. Exchange rates regimes, European Economic and Monetary Union

O. Blanchard, A. Amighini, F. Giavazzi, Macroeconomia, Il Mulino, last edition, cap. 1, 2, 3, 4, 5, 7, 8, 10, 11, 17, 18, 19, 20
R. H. Frank, Microeconomia, McGraw Hill Italia, last edition, cap. 3, 4, 6.2, 6.4.1, 6.4.2, 9, 10, 11, 12, 13.4, 13.5, 13.6.1, 15.2, 15.7
The basic materials for studying are contained in the slide of the lectures, available on the Moodle site of the course

Part I
1. Introduction

Parte II. Microeconomics
3. Consumer theory
4. Production theory
5. Game theory and economics of information
6. Market structure
7. Economic agents behaviour

Part II. Macroeconomics
8. The wealth of nations
9. Growth theory
10. Employment and unemployment
11. Monetary system
12. International trade
13. Open economy

The contents of this course can be found on any microeconomics and macroeconomics textbook for undergraduates.
This course will be mostly based on:
[ALL] Acemoglu, D., D. Laibson, J.A. List (2020). Principi di economia politica. Teoria ed evidenza empirica. 2a ed., Pearson.

Other suggested readings:
[SNB] Samuelson, P.A., D.W. Nordhaus, C.A. Bollino (2006). Economia. Mc Graw Hill, XXI ed.
[BBZ] Becchetti, L., L. Bruni, S. Zamagni (2014). Microeconomia. Un testo di economia civile. Il Mulino.
[BAG] Blanchard, O., A. Amighini, F. Giavazzi (2020). Macroeconomia. Una prospettiva Europea. Il Mulino.

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, regression

A. Agresti, B. Finlay. Statistical methods for the social sciences. Pearson International Edition-4th edition (2009)

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, regression

A. Agresti, B. Finlay. Statistical methods for the social sciences. Pearson International Edition-4th edition (2009)

Descriptive statistics:
variables and their measurement, univariate distributions, describing data with tables and graphs, measures of position, variability, regression.
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)

Descriptive statistics:
variables and their measurement, univariate distributions, describing data with tables and graphs, measures of position, variability, regression.
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)

Introduction
1. Hardware and software
2. Data storage and processing
3. Operating system
4. Networking and Internet
5. Algorithms

Word processing

Data sheet

No text book is required. Materials and useful links will be provided during the classes.

Module I - The theory of financial statements

Introduction to the study of financial statements.
The basic functions of financial statements.
The nature of operating income and working capital.
The purposes that can be assigned to financial statements.
Relationship between income, valuation criteria and purposes of financial statements.
The purposes of the financial statements in the business doctrine: the "alpha" and "beta" purposes.

Module II - The Financial Statements in the Civil Code

The documents of the balance sheet - Structure and content (art. 2423-ter - 2425 Civil Code)
The general clause and the principles for drawing up the financial statements (articles 2423 - 2423-bis Civil Code)
Special valuation criteria (art. 2426 Civil Code)
Tangible fixed assets
Intangible fixed assets
Securities and Equity Investments
Receivables
Assets and liabilities in foreign currency
Inventories (Lifo, Fifo, Cmp)
Contract work in progress
The contents of the Explanatory Notes and the Management Report on Operations

Module III - Accounting

Closing entries, general closing and reopening of accounts
Fixed assets - Accounting based on amortization, depreciation, write-downs and reinstatement of value
Equity investments - Accounting with the historical cost method and equity method
Foreign currency transactions - Accounting treatment
Inventories and contract work in progress - Accounting treatment

Module IV - Fundamentals of financial statement analysis

Modules I e II: Tutino M. (2017), Bilancio e nuovi OIC, Cedam
Module III: Paoloni M., Celli M. (2012), Introduzione alla contabilità generale, Cedam.
Module IV: Paolucci G. (2016), Analisi di bilancio, Hoepli.

Teaching materials available to students on the course web pages

Modul I - Financial reporting

Introduction to the financial reporting study
The basic functions of financial reporting
The nature of income and working capital
The attributable purposes of financial reporting
Relationship between income, evaluation criteria and purposes of financial reporting
The purposes of the financial reporting in the business administration literature: the "alpha" and "beta" purposes

Module II - The Financial Reporting in the Civil Code
From accounting to financial reporting (Closing entries, general closing and reopening of accounts)
The documents of the financial reporting: balance sheet, financial statement and cash flow statement: structure and content (artt. 2423-ter – 2425 c.c. – 2425 ter c.c.)
The general clause and the principles for drawing up the financial reporting (articles 2423 - 2423-bis Civil Code)
Special valuation criteria (art. 2426 Civil Code)
Tangible and intangible fixed assets
Securities and Equity Investments
Receivables
Assets and liabilities in foreign currency
Inventories (Lifo, Fifo, Cmp)
Contract work in progress
The contents of the Notes and the Management Report

Module III - harmonisation accounting process (IAS/IFRS)

Zanda G. (Il bilancio delle società, Giappichelli, Torino, 2007 (integrato con il vigente Codice civile, artt. dal 2423 al 2429 compresi)
Tutino M. (2017), Bilancio e nuovi OIC, Cedam
Paoloni M., Celli M. (2012), Introduzione alla contabilità generale, Cedam.

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
The Sustainability Reporting

T.R. Ittelson, Financial Statements, Career Pr Inc., 2022.

The subject of the course is the system of private law as resulting from national (civil code and Constitution) and supranational (especially euro unitary) sources. The study, in particular, will include: sources of law - subjective juridical situations - natural persons and entities - assets, property, other real rights - obligations - legal transactions and contracts - family and mortis causa succession - protection of rights and non-contractual liability.

It is recommended to prepare the exam with the combined study of the following texts:
- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)
Moreover it is indispensable the use of an updated civil code.

As an alternative to the indicated texts, it is also possible to prepare the exam using an updated manual.
Among the manuals on the market, it is advisable one of:
- TORRENTE-SCHLESINGER, Manuale di diritto privato, Giuffrè, latest edition
- TRABUCCHI, Istituzioni di diritto civile, Cedam, latest edition
- PERLINGIERI, Istituzioni di diritto civile, Esi, latest edition
- GAZZONI, Manuale di diritto privato, Esi, latest edition
In any case, it is essential to use an updated civil code.

The subject of the course is the system of private law as resulting from national (civil code and Constitution) and supranational (especially euro unitary) sources. The study, in particular, will include: sources of law - subjective juridical situations - natural persons and entities - assets, property, other real rights - obligations - legal transactions and contracts - family and mortis causa succession - protection of rights and non-contractual liability.

It is recommended to prepare the exam with the combined study of the following texts:
- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)
Moreover it is indispensable the use of an updated civil code.

As an alternative to the indicated texts, it is also possible to prepare the exam using an updated manual.
Among the manuals on the market, it is advisable one of:
- TORRENTE-SCHLESINGER, Manuale di diritto privato, Giuffrè, latest edition
- TRABUCCHI, Istituzioni di diritto civile, Cedam, latest edition
- PERLINGIERI, Istituzioni di diritto civile, Esi, latest edition
- GAZZONI, Manuale di diritto privato, Esi, latest edition
In any case, it is essential to use an updated civil code.

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, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)

The subject of the course is the system of private law as resulting from national (civil code and Constitution) and supranational (especially euro unitary) sources. The study, in particular, will include: sources of law - subjective juridical situations - natural persons and entities - assets, property, other real rights - obligations - legal transactions and contracts - family and mortis causa succession - protection of rights and non-contractual liability.

It is recommended to prepare the exam with the combined study of the following texts:
- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)
Moreover it is indispensable the use of an updated civil code.

As an alternative to the indicated texts, it is also possible to prepare the exam using an updated manual.
Among the manuals on the market, it is advisable one of:
- TORRENTE-SCHLESINGER, Manuale di diritto privato, Giuffrè, latest edition
- TRABUCCHI, Istituzioni di diritto civile, Cedam, latest edition
- PERLINGIERI, Istituzioni di diritto civile, Esi, latest edition
- GAZZONI, Manuale di diritto privato, Esi, latest edition
In any case, it is essential to use an updated civil code.

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. (2023), Financial Markets and Institutions, tenth edition, Pearson.

Introduction.
Banking intermediation theories
The real system and the financial system
Functions and structure of the financial system
The typical risks of financial intermediaries (1)
The typical risks of financial intermediaries (2)
Financial instruments and their classification
Payment instruments
Debt instruments elements of yield and risk assessment
Debt instruments: review
Participation instruments
Insurance instruments and derivative instruments
Insurance instruments and derivative instruments: review
Financial markets.
The architecture of financial supervision
Securities intermediation and its regulation
Securities intermediation and its regulation

Nadotti, L., Porzio, C., Previati, D. (2022). Economia degli intermediari finanziari. McGraw-Hill, Quarta 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., (XII ed. 2022) La gestione dell’impresa. Tra teoria e pratica aziendale, CEDAM;

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

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).

L. De Angelis (edited by), Diritto commerciale, Wolters Kluwers/Cedam, last edition.
pages 1-93
pages 125-134
pages 137-709
pages 777-828
pages 887-922


V. Buonocore (conceived by), Manuale di diritto commerciale, Torino, Giappichelli, last edition, 2020:
pages 7-63
pages 103-126
pages 163-180
pages 181-700
pages 985-1044
pages 1045-1074
pages 1150-1164

It’s recommended studying the subject with an updated Civil Code, comprehensive of connected laws.

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 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 stock price
7. Risk measures: variance, volatility, covariance, correlation
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. Empirical evidence on capital structure choices
14. Weighted average cost of capital and adjusted present value (APV)
15. Capital budgeting with different 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

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 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.

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 MATHEMATICS PROGRAM a.a 2021-2022
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

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/

GENERAL MATHEMATICS PROGRAM a.a 2021-2022
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

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.

The legal system - The form of government - The system of sources - The constitutional level: the Constitution, the constitutional review laws and other constitutional laws - Constituted power and constituent power - Sources of primary level - The sources of secondary level - The sources of the European Union - The organization of the Parliament - The Government - The President of the Republic - The Constitutional Court - The Judiciary - Territorial autonomies - Public administration and administrative activity - Constitutional rights and freedoms

Exam for 9 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, excluding the following parts:
CAP. I, §7
CAP. II, §§ 14, 15 e 16
CAP. III, §§ 3, 7 e 10
CAP. IV, § 11
CAP. VII, § 7
CAP. IX, §§ 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1 e 7
CAP. XII §§ 8, 9, 10 e 11.

Exam for 6 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, excluding the following parts:
CAP. I, §§ 7, 9 (except pp. 99-105) e 10
CAP. II, §§ 11 (except pp. 213-222), 13 (except pp. 239-243), 14, 15 e 16
CAP. III, §§ 1, 2, 3, 7 e 10
CAP. IV, §§ 1 e 11
CAP. V, §§ 1 e 7
CAP. VII, §§ 1 e 7
CAP. VIII, §§ 3
CAP. IX, §§ 3, 4, 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1, 4.1, 6 (except pp. 756-760) e 7
CAP. XII §§ 1, 2, 3, 4, 8, 9, 10, 11 e 12.

The legal system - The form of government - The system of sources - The constitutional level: the Constitution, the constitutional review laws and other constitutional laws - Constituted power and constituent power - Sources of primary level - The sources of secondary level - The sources of the European Union - The organization of the Parliament - The Government - The President of the Republic - The Constitutional Court - The Judiciary - Territorial autonomies - Public administration and administrative activity - Constitutional rights and freedoms

Exam for 9 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, con esclusione delle seguenti parti:
CAP. I, §7
CAP. II, §§ 14, 15 e 16
CAP. III, §§ 3, 7 e 10
CAP. IV, § 11
CAP. VII, § 7
CAP. IX, §§ 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1 e 7
CAP. XII §§ 8, 9, 10 e 11.

Exam for 6 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, con esclusione delle seguenti parti:
CAP. I, §§ 7, 9 (escluse solo pp. 99-105) e 10
CAP. II, §§ 11 (escluse solo pp. 213-222), 13 (escluse solo pp. 239-243), 14, 15 e 16
CAP. III, §§ 1, 2, 3, 7 e 10
CAP. IV, §§ 1 e 11
CAP. V, §§ 1 e 7
CAP. VII, §§ 1 e 7
CAP. VIII, §§ 3
CAP. IX, §§ 3, 4, 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1, 4.1, 6 (escluse solo pp. 756-760) e 7
CAP. XII §§ 1, 2, 3, 4, 8, 9, 10, 11 e 12.

Order, Law, State. Subjective legal situations. Freedom rights and social rights. The right to protection of personal data. The principle of legality. The legal reserve. The sources of law. The division of responsibilities between the State and the Regions. Italy and the European Union. The organization of public authorities. Parliament and the legislative process. The forms of government. The Government in the Italian constitutional system. Public Administration. The president of the Republic. Independent administrative authorities. The general law on administrative proceedings. Acts and provisions of the public administration. The right of access to administrative documents. Public services. Public evidence procedures. Territorial autonomies and the rules of administrative action. Judicial protection of rights and interests. Constitutional justice. The CNEL, the State Council and the Court of Auditors

1) F. Modugno (a cura di), Diritto pubblico, Giappichelli ed.

as an alternative

T. Groppi – A. Simoncini, Introduzione allo studio del diritto pubblico e delle sue fonti, Giappichelli ed.

2) Lecture notes prepared by the professor and available in Formonline about legal sources of the administrative activities (Law no. 241 of 1990 and its institutes: The phases of the administrative procedure; The deadline for completing the proceedings; The justification for the provision; The person responsible for the procedure; The silence of the public administration; The participation of private individuals in the proceedings and the investigative means; Effectiveness and validity of administrative acts; The defects of the administrative act; etcetera)

The legal system - The form of government - The system of sources - The constitutional level: the Constitution, the constitutional review laws and other constitutional laws - Constituted power and constituent power - Sources of primary level - The sources of secondary level - The sources of the European Union - The organization of the Parliament - The Government - The President of the Republic - The Constitutional Court - The Judiciary - Territorial autonomies - Public administration and administrative activity - Constitutional rights and freedoms

STUDENTS HAVE TO ACHIEVE 9 CFU:
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, except:
CAP. I, §7
CAP. II, §§ 14, 15 e 16
CAP. III, §§ 3, 7 e 10
CAP. IV, § 11
CAP. VII, § 7
CAP. IX, §§ 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1 e 7
CAP. XII §§ 8, 9, 10 e 11.

STUDENTS HAVE TO ACHIEVE 6 CFU:
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, except:
CAP. I, §§ 7, 9 (except just pp. 99-105) e 10
CAP. II, §§ 11 (except just pp. 213-222), 13 (except just pp. 239-243), 14, 15 e 16
CAP. III, §§ 1, 2, 3, 7 e 10
CAP. IV, §§ 1 e 11
CAP. V, §§ 1 e 7
CAP. VII, §§ 1 e 7
CAP. VIII, §§ 3
CAP. IX, §§ 3, 4, 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1, 4.1, 6 (except just pp. 756-760) e 7
CAP. XII §§ 1, 2, 3, 4, 8, 9, 10, 11 e 12.

Part I– Microeconomics: I. Economic Choice; II. Goods and services; III. Markets; IV. Economic equilibrium; V. Demand; VI. Supply; VII. Perfect competition; VIII. Imperfect competition; IX. Labor market; X. Factor markets.
Part II – Macroeconomics: I. National accounting; II. The Income-expenditure model; III. Money and financial markets; IV. The IS-LM model; V. Demand-side policies; VI. Inflation and unemployment; VII. Economic growth; VIII. The open economy.

Saltari, Enrico, Giovanni Di Bartolomeo, and Riccardo Tilli. Principi di economia politica. Carocci, 2019.

Blanchard, Olivier, Alessia AMIGHINI, and Francesco Giavazzi. "Macroeconomia. Una prospettiva europea." (2020).

Part I– Microeconomics: I. Economic Choice; II. Goods and services; III. Markets; IV. Economic equilibrium; V. Demand; VI. Supply; VII. Perfect competition; VIII. Imperfect competition; IX. Labor market; X. Factor markets.
Part II – Macroeconomics: I. National accounting; II. The Income-expenditure model; III. Money and financial markets; IV. The IS-LM model; V. Demand-side policies; VI. Inflation and unemployment; VII. Economic growth; VIII. The open economy.

Saltari, Enrico, Giovanni Di Bartolomeo, and Riccardo Tilli. Principi di economia politica. Carocci, 2019.

Blanchard, Olivier, Alessia AMIGHINI, and Francesco Giavazzi. "Macroeconomia. Una prospettiva europea." (2020).

Part I - Introduction and National accounts
0. Introduction to economics. Organization of the class
1. National accounts
2. Numbers of the economy
Part II - Macroeconomics (short run, closed economy)
3. Income-expenditure model in a closed economy
4. Money and financial markets
5. IS-LM model in a closed economy
Part III - Microeconomics
6. Consumption
7. Production and costs
8. Perfect competition
9. Monopoly
10. Monopolistic competition, oligopoly, introduction to game theory
11. Free competition and prices
12. Further topics in microeconomics: market failures, uncertainty, asymmetric information, antitrust policies, regulation of natural monopolies, network externalities
13. Labor market
14. Wages
Part V – Macroeconomics (medium and long run, closed economy)
15. Demand and supply policies
16. Inflation and unemployment
17. Recession, inflation, deflation
18. Monetary policy rules, algebra of public debt
19. Economic growth
Part V – Open economy
20. Balance of payments and exchange rates
21. Income-expenditure model in an open economy
22. IS-LM model in an open economy
23. Exchange rates regimes, European Economic and Monetary Union

O. Blanchard, A. Amighini, F. Giavazzi, Macroeconomia, Il Mulino, last edition, cap. 1, 2, 3, 4, 5, 7, 8, 10, 11, 17, 18, 19, 20
R. H. Frank, Microeconomia, McGraw Hill Italia, last edition, cap. 3, 4, 6.2, 6.4.1, 6.4.2, 9, 10, 11, 12, 13.4, 13.5, 13.6.1, 15.2, 15.7
The basic materials for studying are contained in the slide of the lectures, available on the Moodle site of the course

Part I
1. Introduction

Parte II. Microeconomics
3. Consumer theory
4. Production theory
5. Game theory and economics of information
6. Market structure
7. Economic agents behaviour

Part II. Macroeconomics
8. The wealth of nations
9. Growth theory
10. Employment and unemployment
11. Monetary system
12. International trade
13. Open economy

The contents of this course can be found on any microeconomics and macroeconomics textbook for undergraduates.
This course will be mostly based on:
[ALL] Acemoglu, D., D. Laibson, J.A. List (2020). Principi di economia politica. Teoria ed evidenza empirica. 2a ed., Pearson.

Other suggested readings:
[SNB] Samuelson, P.A., D.W. Nordhaus, C.A. Bollino (2006). Economia. Mc Graw Hill, XXI ed.
[BBZ] Becchetti, L., L. Bruni, S. Zamagni (2014). Microeconomia. Un testo di economia civile. Il Mulino.
[BAG] Blanchard, O., A. Amighini, F. Giavazzi (2020). Macroeconomia. Una prospettiva Europea. Il Mulino.

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, regression

A. Agresti, B. Finlay. Statistical methods for the social sciences. Pearson International Edition-4th edition (2009)

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, regression

A. Agresti, B. Finlay. Statistical methods for the social sciences. Pearson International Edition-4th edition (2009)

Descriptive statistics:
variables and their measurement, univariate distributions, describing data with tables and graphs, measures of position, variability, regression.
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)

Descriptive statistics:
variables and their measurement, univariate distributions, describing data with tables and graphs, measures of position, variability, regression.
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)

Introduction
1. Hardware and software
2. Data storage and processing
3. Operating system
4. Networking and Internet
5. Algorithms

Word processing

Data sheet

No text book is required. Materials and useful links will be provided during the classes.

Module I - The theory of financial statements

Introduction to the study of financial statements.
The basic functions of financial statements.
The nature of operating income and working capital.
The purposes that can be assigned to financial statements.
Relationship between income, valuation criteria and purposes of financial statements.
The purposes of the financial statements in the business doctrine: the "alpha" and "beta" purposes.

Module II - The Financial Statements in the Civil Code

The documents of the balance sheet - Structure and content (art. 2423-ter - 2425 Civil Code)
The general clause and the principles for drawing up the financial statements (articles 2423 - 2423-bis Civil Code)
Special valuation criteria (art. 2426 Civil Code)
Tangible fixed assets
Intangible fixed assets
Securities and Equity Investments
Receivables
Assets and liabilities in foreign currency
Inventories (Lifo, Fifo, Cmp)
Contract work in progress
The contents of the Explanatory Notes and the Management Report on Operations

Module III - Accounting

Closing entries, general closing and reopening of accounts
Fixed assets - Accounting based on amortization, depreciation, write-downs and reinstatement of value
Equity investments - Accounting with the historical cost method and equity method
Foreign currency transactions - Accounting treatment
Inventories and contract work in progress - Accounting treatment

Module IV - Fundamentals of financial statement analysis

Modules I e II: Tutino M. (2017), Bilancio e nuovi OIC, Cedam
Module III: Paoloni M., Celli M. (2012), Introduzione alla contabilità generale, Cedam.
Module IV: Paolucci G. (2016), Analisi di bilancio, Hoepli.

Teaching materials available to students on the course web pages

Modul I - Financial reporting

Introduction to the financial reporting study
The basic functions of financial reporting
The nature of income and working capital
The attributable purposes of financial reporting
Relationship between income, evaluation criteria and purposes of financial reporting
The purposes of the financial reporting in the business administration literature: the "alpha" and "beta" purposes

Module II - The Financial Reporting in the Civil Code
From accounting to financial reporting (Closing entries, general closing and reopening of accounts)
The documents of the financial reporting: balance sheet, financial statement and cash flow statement: structure and content (artt. 2423-ter – 2425 c.c. – 2425 ter c.c.)
The general clause and the principles for drawing up the financial reporting (articles 2423 - 2423-bis Civil Code)
Special valuation criteria (art. 2426 Civil Code)
Tangible and intangible fixed assets
Securities and Equity Investments
Receivables
Assets and liabilities in foreign currency
Inventories (Lifo, Fifo, Cmp)
Contract work in progress
The contents of the Notes and the Management Report

Module III - harmonisation accounting process (IAS/IFRS)

Zanda G. (Il bilancio delle società, Giappichelli, Torino, 2007 (integrato con il vigente Codice civile, artt. dal 2423 al 2429 compresi)
Tutino M. (2017), Bilancio e nuovi OIC, Cedam
Paoloni M., Celli M. (2012), Introduzione alla contabilità generale, Cedam.

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
The Sustainability Reporting

T.R. Ittelson, Financial Statements, Career Pr Inc., 2022.

The subject of the course is the system of private law as resulting from national (civil code and Constitution) and supranational (especially euro unitary) sources. The study, in particular, will include: sources of law - subjective juridical situations - natural persons and entities - assets, property, other real rights - obligations - legal transactions and contracts - family and mortis causa succession - protection of rights and non-contractual liability.

It is recommended to prepare the exam with the combined study of the following texts:
- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)
Moreover it is indispensable the use of an updated civil code.

As an alternative to the indicated texts, it is also possible to prepare the exam using an updated manual.
Among the manuals on the market, it is advisable one of:
- TORRENTE-SCHLESINGER, Manuale di diritto privato, Giuffrè, latest edition
- TRABUCCHI, Istituzioni di diritto civile, Cedam, latest edition
- PERLINGIERI, Istituzioni di diritto civile, Esi, latest edition
- GAZZONI, Manuale di diritto privato, Esi, latest edition
In any case, it is essential to use an updated civil code.

The subject of the course is the system of private law as resulting from national (civil code and Constitution) and supranational (especially euro unitary) sources. The study, in particular, will include: sources of law - subjective juridical situations - natural persons and entities - assets, property, other real rights - obligations - legal transactions and contracts - family and mortis causa succession - protection of rights and non-contractual liability.

It is recommended to prepare the exam with the combined study of the following texts:
- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)
Moreover it is indispensable the use of an updated civil code.

As an alternative to the indicated texts, it is also possible to prepare the exam using an updated manual.
Among the manuals on the market, it is advisable one of:
- TORRENTE-SCHLESINGER, Manuale di diritto privato, Giuffrè, latest edition
- TRABUCCHI, Istituzioni di diritto civile, Cedam, latest edition
- PERLINGIERI, Istituzioni di diritto civile, Esi, latest edition
- GAZZONI, Manuale di diritto privato, Esi, latest edition
In any case, it is essential to use an updated civil code.

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, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)

The subject of the course is the system of private law as resulting from national (civil code and Constitution) and supranational (especially euro unitary) sources. The study, in particular, will include: sources of law - subjective juridical situations - natural persons and entities - assets, property, other real rights - obligations - legal transactions and contracts - family and mortis causa succession - protection of rights and non-contractual liability.

It is recommended to prepare the exam with the combined study of the following texts:
- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)
Moreover it is indispensable the use of an updated civil code.

As an alternative to the indicated texts, it is also possible to prepare the exam using an updated manual.
Among the manuals on the market, it is advisable one of:
- TORRENTE-SCHLESINGER, Manuale di diritto privato, Giuffrè, latest edition
- TRABUCCHI, Istituzioni di diritto civile, Cedam, latest edition
- PERLINGIERI, Istituzioni di diritto civile, Esi, latest edition
- GAZZONI, Manuale di diritto privato, Esi, latest edition
In any case, it is essential to use an updated civil code.

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. (2023), Financial Markets and Institutions, tenth edition, Pearson.

Introduction.
Banking intermediation theories
The real system and the financial system
Functions and structure of the financial system
The typical risks of financial intermediaries (1)
The typical risks of financial intermediaries (2)
Financial instruments and their classification
Payment instruments
Debt instruments elements of yield and risk assessment
Debt instruments: review
Participation instruments
Insurance instruments and derivative instruments
Insurance instruments and derivative instruments: review
Financial markets.
The architecture of financial supervision
Securities intermediation and its regulation
Securities intermediation and its regulation

Nadotti, L., Porzio, C., Previati, D. (2022). Economia degli intermediari finanziari. McGraw-Hill, Quarta 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., (XII ed. 2022) La gestione dell’impresa. Tra teoria e pratica aziendale, CEDAM;

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

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).

L. De Angelis (edited by), Diritto commerciale, Wolters Kluwers/Cedam, last edition.
pages 1-93
pages 125-134
pages 137-709
pages 777-828
pages 887-922


V. Buonocore (conceived by), Manuale di diritto commerciale, Torino, Giappichelli, last edition, 2020:
pages 7-63
pages 103-126
pages 163-180
pages 181-700
pages 985-1044
pages 1045-1074
pages 1150-1164

It’s recommended studying the subject with an updated Civil Code, comprehensive of connected laws.

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.

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 MATHEMATICS PROGRAM a.a 2021-2022
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

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/

GENERAL MATHEMATICS PROGRAM a.a 2021-2022
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

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.

The legal system - The form of government - The system of sources - The constitutional level: the Constitution, the constitutional review laws and other constitutional laws - Constituted power and constituent power - Sources of primary level - The sources of secondary level - The sources of the European Union - The organization of the Parliament - The Government - The President of the Republic - The Constitutional Court - The Judiciary - Territorial autonomies - Public administration and administrative activity - Constitutional rights and freedoms

Exam for 9 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, excluding the following parts:
CAP. I, §7
CAP. II, §§ 14, 15 e 16
CAP. III, §§ 3, 7 e 10
CAP. IV, § 11
CAP. VII, § 7
CAP. IX, §§ 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1 e 7
CAP. XII §§ 8, 9, 10 e 11.

Exam for 6 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, excluding the following parts:
CAP. I, §§ 7, 9 (except pp. 99-105) e 10
CAP. II, §§ 11 (except pp. 213-222), 13 (except pp. 239-243), 14, 15 e 16
CAP. III, §§ 1, 2, 3, 7 e 10
CAP. IV, §§ 1 e 11
CAP. V, §§ 1 e 7
CAP. VII, §§ 1 e 7
CAP. VIII, §§ 3
CAP. IX, §§ 3, 4, 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1, 4.1, 6 (except pp. 756-760) e 7
CAP. XII §§ 1, 2, 3, 4, 8, 9, 10, 11 e 12.

The legal system - The form of government - The system of sources - The constitutional level: the Constitution, the constitutional review laws and other constitutional laws - Constituted power and constituent power - Sources of primary level - The sources of secondary level - The sources of the European Union - The organization of the Parliament - The Government - The President of the Republic - The Constitutional Court - The Judiciary - Territorial autonomies - Public administration and administrative activity - Constitutional rights and freedoms

Exam for 9 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, con esclusione delle seguenti parti:
CAP. I, §7
CAP. II, §§ 14, 15 e 16
CAP. III, §§ 3, 7 e 10
CAP. IV, § 11
CAP. VII, § 7
CAP. IX, §§ 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1 e 7
CAP. XII §§ 8, 9, 10 e 11.

Exam for 6 CFU
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, con esclusione delle seguenti parti:
CAP. I, §§ 7, 9 (escluse solo pp. 99-105) e 10
CAP. II, §§ 11 (escluse solo pp. 213-222), 13 (escluse solo pp. 239-243), 14, 15 e 16
CAP. III, §§ 1, 2, 3, 7 e 10
CAP. IV, §§ 1 e 11
CAP. V, §§ 1 e 7
CAP. VII, §§ 1 e 7
CAP. VIII, §§ 3
CAP. IX, §§ 3, 4, 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1, 4.1, 6 (escluse solo pp. 756-760) e 7
CAP. XII §§ 1, 2, 3, 4, 8, 9, 10, 11 e 12.

Order, Law, State. Subjective legal situations. Freedom rights and social rights. The right to protection of personal data. The principle of legality. The legal reserve. The sources of law. The division of responsibilities between the State and the Regions. Italy and the European Union. The organization of public authorities. Parliament and the legislative process. The forms of government. The Government in the Italian constitutional system. Public Administration. The president of the Republic. Independent administrative authorities. The general law on administrative proceedings. Acts and provisions of the public administration. The right of access to administrative documents. Public services. Public evidence procedures. Territorial autonomies and the rules of administrative action. Judicial protection of rights and interests. Constitutional justice. The CNEL, the State Council and the Court of Auditors

1) F. Modugno (a cura di), Diritto pubblico, Giappichelli ed.

as an alternative

T. Groppi – A. Simoncini, Introduzione allo studio del diritto pubblico e delle sue fonti, Giappichelli ed.

2) Lecture notes prepared by the professor and available in Formonline about legal sources of the administrative activities (Law no. 241 of 1990 and its institutes: The phases of the administrative procedure; The deadline for completing the proceedings; The justification for the provision; The person responsible for the procedure; The silence of the public administration; The participation of private individuals in the proceedings and the investigative means; Effectiveness and validity of administrative acts; The defects of the administrative act; etcetera)

The legal system - The form of government - The system of sources - The constitutional level: the Constitution, the constitutional review laws and other constitutional laws - Constituted power and constituent power - Sources of primary level - The sources of secondary level - The sources of the European Union - The organization of the Parliament - The Government - The President of the Republic - The Constitutional Court - The Judiciary - Territorial autonomies - Public administration and administrative activity - Constitutional rights and freedoms

STUDENTS HAVE TO ACHIEVE 9 CFU:
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, except:
CAP. I, §7
CAP. II, §§ 14, 15 e 16
CAP. III, §§ 3, 7 e 10
CAP. IV, § 11
CAP. VII, § 7
CAP. IX, §§ 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1 e 7
CAP. XII §§ 8, 9, 10 e 11.

STUDENTS HAVE TO ACHIEVE 6 CFU:
F. Modugno (edited by), Diritto pubblico, Giappichelli, Torino, VI edizione, 2023, except:
CAP. I, §§ 7, 9 (except just pp. 99-105) e 10
CAP. II, §§ 11 (except just pp. 213-222), 13 (except just pp. 239-243), 14, 15 e 16
CAP. III, §§ 1, 2, 3, 7 e 10
CAP. IV, §§ 1 e 11
CAP. V, §§ 1 e 7
CAP. VII, §§ 1 e 7
CAP. VIII, §§ 3
CAP. IX, §§ 3, 4, 5, 6, 7, 8 e 9
CAP. X, §§ 7
CAP. XI, §§ 1, 4.1, 6 (except just pp. 756-760) e 7
CAP. XII §§ 1, 2, 3, 4, 8, 9, 10, 11 e 12.

Part I– Microeconomics: I. Economic Choice; II. Goods and services; III. Markets; IV. Economic equilibrium; V. Demand; VI. Supply; VII. Perfect competition; VIII. Imperfect competition; IX. Labor market; X. Factor markets.
Part II – Macroeconomics: I. National accounting; II. The Income-expenditure model; III. Money and financial markets; IV. The IS-LM model; V. Demand-side policies; VI. Inflation and unemployment; VII. Economic growth; VIII. The open economy.

Saltari, Enrico, Giovanni Di Bartolomeo, and Riccardo Tilli. Principi di economia politica. Carocci, 2019.

Blanchard, Olivier, Alessia AMIGHINI, and Francesco Giavazzi. "Macroeconomia. Una prospettiva europea." (2020).

Part I– Microeconomics: I. Economic Choice; II. Goods and services; III. Markets; IV. Economic equilibrium; V. Demand; VI. Supply; VII. Perfect competition; VIII. Imperfect competition; IX. Labor market; X. Factor markets.
Part II – Macroeconomics: I. National accounting; II. The Income-expenditure model; III. Money and financial markets; IV. The IS-LM model; V. Demand-side policies; VI. Inflation and unemployment; VII. Economic growth; VIII. The open economy.

Saltari, Enrico, Giovanni Di Bartolomeo, and Riccardo Tilli. Principi di economia politica. Carocci, 2019.

Blanchard, Olivier, Alessia AMIGHINI, and Francesco Giavazzi. "Macroeconomia. Una prospettiva europea." (2020).

Part I - Introduction and National accounts
0. Introduction to economics. Organization of the class
1. National accounts
2. Numbers of the economy
Part II - Macroeconomics (short run, closed economy)
3. Income-expenditure model in a closed economy
4. Money and financial markets
5. IS-LM model in a closed economy
Part III - Microeconomics
6. Consumption
7. Production and costs
8. Perfect competition
9. Monopoly
10. Monopolistic competition, oligopoly, introduction to game theory
11. Free competition and prices
12. Further topics in microeconomics: market failures, uncertainty, asymmetric information, antitrust policies, regulation of natural monopolies, network externalities
13. Labor market
14. Wages
Part V – Macroeconomics (medium and long run, closed economy)
15. Demand and supply policies
16. Inflation and unemployment
17. Recession, inflation, deflation
18. Monetary policy rules, algebra of public debt
19. Economic growth
Part V – Open economy
20. Balance of payments and exchange rates
21. Income-expenditure model in an open economy
22. IS-LM model in an open economy
23. Exchange rates regimes, European Economic and Monetary Union

O. Blanchard, A. Amighini, F. Giavazzi, Macroeconomia, Il Mulino, last edition, cap. 1, 2, 3, 4, 5, 7, 8, 10, 11, 17, 18, 19, 20
R. H. Frank, Microeconomia, McGraw Hill Italia, last edition, cap. 3, 4, 6.2, 6.4.1, 6.4.2, 9, 10, 11, 12, 13.4, 13.5, 13.6.1, 15.2, 15.7
The basic materials for studying are contained in the slide of the lectures, available on the Moodle site of the course

Part I
1. Introduction

Parte II. Microeconomics
3. Consumer theory
4. Production theory
5. Game theory and economics of information
6. Market structure
7. Economic agents behaviour

Part II. Macroeconomics
8. The wealth of nations
9. Growth theory
10. Employment and unemployment
11. Monetary system
12. International trade
13. Open economy

The contents of this course can be found on any microeconomics and macroeconomics textbook for undergraduates.
This course will be mostly based on:
[ALL] Acemoglu, D., D. Laibson, J.A. List (2020). Principi di economia politica. Teoria ed evidenza empirica. 2a ed., Pearson.

Other suggested readings:
[SNB] Samuelson, P.A., D.W. Nordhaus, C.A. Bollino (2006). Economia. Mc Graw Hill, XXI ed.
[BBZ] Becchetti, L., L. Bruni, S. Zamagni (2014). Microeconomia. Un testo di economia civile. Il Mulino.
[BAG] Blanchard, O., A. Amighini, F. Giavazzi (2020). Macroeconomia. Una prospettiva Europea. Il Mulino.

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, regression

A. Agresti, B. Finlay. Statistical methods for the social sciences. Pearson International Edition-4th edition (2009)

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, regression

A. Agresti, B. Finlay. Statistical methods for the social sciences. Pearson International Edition-4th edition (2009)

Descriptive statistics:
variables and their measurement, univariate distributions, describing data with tables and graphs, measures of position, variability, regression.
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)

Descriptive statistics:
variables and their measurement, univariate distributions, describing data with tables and graphs, measures of position, variability, regression.
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)

Introduction
1. Hardware and software
2. Data storage and processing
3. Operating system
4. Networking and Internet
5. Algorithms

Word processing

Data sheet

No text book is required. Materials and useful links will be provided during the classes.

Module I - The theory of financial statements

Introduction to the study of financial statements.
The basic functions of financial statements.
The nature of operating income and working capital.
The purposes that can be assigned to financial statements.
Relationship between income, valuation criteria and purposes of financial statements.
The purposes of the financial statements in the business doctrine: the "alpha" and "beta" purposes.

Module II - The Financial Statements in the Civil Code

The documents of the balance sheet - Structure and content (art. 2423-ter - 2425 Civil Code)
The general clause and the principles for drawing up the financial statements (articles 2423 - 2423-bis Civil Code)
Special valuation criteria (art. 2426 Civil Code)
Tangible fixed assets
Intangible fixed assets
Securities and Equity Investments
Receivables
Assets and liabilities in foreign currency
Inventories (Lifo, Fifo, Cmp)
Contract work in progress
The contents of the Explanatory Notes and the Management Report on Operations

Module III - Accounting

Closing entries, general closing and reopening of accounts
Fixed assets - Accounting based on amortization, depreciation, write-downs and reinstatement of value
Equity investments - Accounting with the historical cost method and equity method
Foreign currency transactions - Accounting treatment
Inventories and contract work in progress - Accounting treatment

Module IV - Fundamentals of financial statement analysis

Modules I e II: Tutino M. (2017), Bilancio e nuovi OIC, Cedam
Module III: Paoloni M., Celli M. (2012), Introduzione alla contabilità generale, Cedam.
Module IV: Paolucci G. (2016), Analisi di bilancio, Hoepli.

Teaching materials available to students on the course web pages

Modul I - Financial reporting

Introduction to the financial reporting study
The basic functions of financial reporting
The nature of income and working capital
The attributable purposes of financial reporting
Relationship between income, evaluation criteria and purposes of financial reporting
The purposes of the financial reporting in the business administration literature: the "alpha" and "beta" purposes

Module II - The Financial Reporting in the Civil Code
From accounting to financial reporting (Closing entries, general closing and reopening of accounts)
The documents of the financial reporting: balance sheet, financial statement and cash flow statement: structure and content (artt. 2423-ter – 2425 c.c. – 2425 ter c.c.)
The general clause and the principles for drawing up the financial reporting (articles 2423 - 2423-bis Civil Code)
Special valuation criteria (art. 2426 Civil Code)
Tangible and intangible fixed assets
Securities and Equity Investments
Receivables
Assets and liabilities in foreign currency
Inventories (Lifo, Fifo, Cmp)
Contract work in progress
The contents of the Notes and the Management Report

Module III - harmonisation accounting process (IAS/IFRS)

Zanda G. (Il bilancio delle società, Giappichelli, Torino, 2007 (integrato con il vigente Codice civile, artt. dal 2423 al 2429 compresi)
Tutino M. (2017), Bilancio e nuovi OIC, Cedam
Paoloni M., Celli M. (2012), Introduzione alla contabilità generale, Cedam.

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
The Sustainability Reporting

T.R. Ittelson, Financial Statements, Career Pr Inc., 2022.

The subject of the course is the system of private law as resulting from national (civil code and Constitution) and supranational (especially euro unitary) sources. The study, in particular, will include: sources of law - subjective juridical situations - natural persons and entities - assets, property, other real rights - obligations - legal transactions and contracts - family and mortis causa succession - protection of rights and non-contractual liability.

It is recommended to prepare the exam with the combined study of the following texts:
- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)
Moreover it is indispensable the use of an updated civil code.

As an alternative to the indicated texts, it is also possible to prepare the exam using an updated manual.
Among the manuals on the market, it is advisable one of:
- TORRENTE-SCHLESINGER, Manuale di diritto privato, Giuffrè, latest edition
- TRABUCCHI, Istituzioni di diritto civile, Cedam, latest edition
- PERLINGIERI, Istituzioni di diritto civile, Esi, latest edition
- GAZZONI, Manuale di diritto privato, Esi, latest edition
In any case, it is essential to use an updated civil code.

The subject of the course is the system of private law as resulting from national (civil code and Constitution) and supranational (especially euro unitary) sources. The study, in particular, will include: sources of law - subjective juridical situations - natural persons and entities - assets, property, other real rights - obligations - legal transactions and contracts - family and mortis causa succession - protection of rights and non-contractual liability.

It is recommended to prepare the exam with the combined study of the following texts:
- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)
Moreover it is indispensable the use of an updated civil code.

As an alternative to the indicated texts, it is also possible to prepare the exam using an updated manual.
Among the manuals on the market, it is advisable one of:
- TORRENTE-SCHLESINGER, Manuale di diritto privato, Giuffrè, latest edition
- TRABUCCHI, Istituzioni di diritto civile, Cedam, latest edition
- PERLINGIERI, Istituzioni di diritto civile, Esi, latest edition
- GAZZONI, Manuale di diritto privato, Esi, latest edition
In any case, it is essential to use an updated civil code.

The subject of the course is the system of private law as resulting from national (civil code and Constitution) and supranational (especially euro unitary) sources. The study, in particular, will include: sources of law - subjective juridical situations - natural persons and entities - assets, property, other real rights - obligations - legal transactions and contracts - family and mortis causa succession - protection of rights and non-contractual liability.

It is recommended to prepare the exam with the combined study of the following texts:
- M. NUZZO, Introduzione alle scienze giuridiche. Norme - Soggetti - Attività, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)
Moreover it is indispensable the use of an updated civil code.

As an alternative to the indicated texts, it is also possible to prepare the exam using an updated manual.
Among the manuals on the market, it is advisable one of:
- TORRENTE-SCHLESINGER, Manuale di diritto privato, Giuffrè, latest edition
- TRABUCCHI, Istituzioni di diritto civile, Cedam, latest edition
- PERLINGIERI, Istituzioni di diritto civile, Esi, latest edition
- GAZZONI, Manuale di diritto privato, Esi, latest edition
In any case, it is essential to use an updated civil code.

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, 4ª ed., Giappichelli, 2023
- F. MACIOCE, L’obbligazione e il contratto, 4ª ed., Giappichelli, 2021
- L. ROSSI CARLEO, E. BELLISARIO, V. CUFFARO, Famiglia e successioni. Le forme di circolazione della ricchezza familiare, 5ª ed., Giappichelli, 2022 (excluded the Eighth Chapter)

1. Introduction to environmental economics
1.1 The origins of the problem
1.2 Interdependency economy-environment
1.3 GDP growth and welfare measure
1.4 Sustainability
1.5 Pollution extension and types
1.6 Natural resources

2. Ethics and economics
2.1 Natural philosophy
2.2 Libertarian philosophy
2.3 Utilitarianism
2.4 Critique to utilitarianism

3. Social welfare and environmental sustainability
3.1 Pareto efficiency
3.2 Social welfare function
3.3 Kaldor- Hicks-Scitovsky compensation tests
3.4 Market failures
3.5 Second-best theorem

4. Environmental policy
4.1 Public goods
4.2 Externalities
4.3 Environmental pollution models
4.4 Flow and stock of polluting emissions
4.5 Emission efficiency in static models
4.6 Emission efficiency in dynamic models

5 Environmental policy: instruments
5.1 Tax and subsidy
5.2 Command-and-control
5.3 Permits

6 Monetary valuation
6.1 Contingent valuation method
6.2 Hedonic price method
6.3 Cost-Benefit analysis

Lecture notes available on Moodle.

In substitution to lecture notes:
Title: Natural Resources and Environmental Economics. 4th Edition, 2011
Authors: Perman Roger, Ma Yue, Common Micheal, Maddison David, McGilvray James.
Editor: Pearson

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., (XII ed. 2022) La gestione dell’impresa. Tra teoria e pratica aziendale, CEDAM;

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

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).

L. De Angelis (edited by), Diritto commerciale, Wolters Kluwers/Cedam, last edition.
pages 1-93
pages 125-134
pages 137-709
pages 777-828
pages 887-922


V. Buonocore (conceived by), Manuale di diritto commerciale, Torino, Giappichelli, last edition, 2020:
pages 7-63
pages 103-126
pages 163-180
pages 181-700
pages 985-1044
pages 1045-1074
pages 1150-1164

It’s recommended studying the subject with an updated Civil Code, comprehensive of connected laws.

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. Work design choices
4.1 A theoretical study: the analysis and discussion of the theory of the Scientific Management by Frederick Taylor
4.2 The reassembly of the divided work: the job redesign approach and the socio-technical approach
4.3 The post-Fordist approaches: Human Relation; Human Resource; socio-technical approach
4.4 The new forms of work organization: Industry 4.0 and Flexible work arrangements
5. Human Resources Management
5.1 Phases, activities and methodologies
5.2 Actors of the HRM
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
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 companies8. 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)

The textbook is under revision. Additional readings will be posted online at the beginning of the course

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. Work design choices
4.1 A theoretical study: the analysis and discussion of the theory of the Scientific Management by Frederick Taylor
4.2 The reassembly of the divided work: the job redesign approach and the socio-technical approach
4.3 The post-Fordist approaches: Human Relation; Human Resource; socio-technical approach
4.4 The new forms of work organization: Industry 4.0 and Flexible work arrangements
5. Human Resources Management
5.1 Phases, activities and methodologies
5.2 Actors of the HRM
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
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 companies8. 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)

The textbook is under revision. Additional readings will be posted online at the beginning of the course

The corse focuses on the law relating to:
- consumer contracts
- unfair contract terms
- unfair commercial practices
- consumer protection remedies
- new digital technologies and consumers rights

Diritti e tutele dei consumatori, a cura di G. Recinto, L. Mezzasoma, S. Cherti, ESI, 2014
Diritto dei consumi, a cura di L. Rossi Carleo, Giappichelli, 2015

The course focuses on the law relating to:-
- consumer contracts
- unfair contract terms
- unfair commercial practices
- consumer protection remedies
- new digital technologies and consumer rights

Diritti e tutele dei consumatori, a cura di G. Recinto, L. Mezzasoma, S. Cherti, Esi, 2014
Diritto dei consumi, a cura di L. Rossi Carleo, Giappichelli, 2015