Management And Finance

Academic program

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Course ECONOMIA INTERNAZIONALE
Course ID E0169
Academic Year 2018/2019
Year of rule 2016/2017
Degree MANAGEMENT E FINANZA
Curriculum FINANZA
CFU 6
Teaching duration (hours) 48
Individual study time 102
SSD SECS-P/01 - ECONOMIA POLITICA
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category C
Year 2
Period Secondo Semestre
Grading type V
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Course Finanza quantitativa
Course ID EC0022
Academic Year 2018/2019
Year of rule 2016/2017
Degree MANAGEMENT E FINANZA
Curriculum FINANZA
Teaching leader FUSAI Gianluca
Teachers Fusai Gianluca
CFU 8
Teaching duration (hours) 64
Individual study time 136
SSD SECS-S/06 - METODI MATEMATICI DELL'ECONOMIA E DELLE SCIENZE ATTUARIALI E FINANZIARIE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 2
Period Primo Semestre
Grading type V
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Course Tecnica e gestione delle imprese di assicurazione
Course ID EC0023
Academic Year 2018/2019
Year of rule 2016/2017
Degree MANAGEMENT E FINANZA
Curriculum FINANZA
Teaching leader VALLETTA Mario
Teachers Valletta Mario
CFU 6
Teaching duration (hours) 48
Individual study time 102
SSD SECS-P/11 - ECONOMIA DEGLI INTERMEDIARI FINANZIARI
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 2
Period Secondo Semestre
Grading type V
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Course ECONOMIA E POLITICA MONETARIA
Course ID E0213
Academic Year 2018/2019
Year of rule 2016/2017
Degree MANAGEMENT E FINANZA
Curriculum FINANZA
CFU 8
Teaching duration (hours) 64
Individual study time 136
SSD SECS-P/01 - ECONOMIA POLITICA
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category C
Year 1
Period Secondo Semestre
Grading type V
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Course INGLESE (L.M. I)
Course ID E0315
Academic Year 2018/2019
Year of rule 2016/2017
Degree MANAGEMENT E FINANZA
Curriculum FINANZA
CFU 4
Teaching duration (hours) 32
Individual study time 68
SSD L-LIN/12 - LINGUA E TRADUZIONE - LINGUA INGLESE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category F
Year 1
Period Secondo Semestre
Grading type V
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Course DIRITTO DEL GOVERNO DELLE IMPRESE
Course ID EA049
Academic Year 2018/2019
Year of rule 2016/2017
Degree MANAGEMENT E FINANZA
Curriculum MANAGEMENT E RISORSE UMANE
CFU 6
Teaching duration (hours) 48
Individual study time 102
SSD IUS/04 - DIRITTO COMMERCIALE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 2
Period Primo Semestre
Grading type V
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Course INGLESE (L.M. I)
Course ID E0315
Academic Year 2018/2019
Year of rule 2016/2017
Degree MANAGEMENT E FINANZA
Curriculum MANAGEMENT E RISORSE UMANE
CFU 4
Teaching duration (hours) 32
Individual study time 68
SSD L-LIN/12 - LINGUA E TRADUZIONE - LINGUA INGLESE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category F
Year 1
Period Secondo Semestre
Grading type V
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Course MARKETING AVANZATO
Course ID EA069
Academic Year 2018/2019
Year of rule 2016/2017
Degree MANAGEMENT E FINANZA
Curriculum MANAGEMENT E RISORSE UMANE
Teaching leader MENOZZI ANNA
Teachers Menozzi Anna
CFU 6
Teaching duration (hours) 48
Individual study time 102
SSD SECS-P/08 - ECONOMIA E GESTIONE DELLE IMPRESE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 2
Period Secondo Semestre
Grading type V
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Course ECONOMIA E GESTIONE DELLE IMPRESE AVANZATA
Course ID EA061
Academic Year 2018/2019
Year of rule 2016/2017
Degree MANAGEMENT E FINANZA
Curriculum MANAGEMENT E RISORSE UMANE
CFU 8
Teaching duration (hours) 64
Individual study time 136
SSD SECS-P/08 - ECONOMIA E GESTIONE DELLE IMPRESE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Primo Semestre
Grading type V
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Course ECONOMIA DEL LAVORO
Course ID E0048
Academic Year 2018/2019
Year of rule 2016/2017
Degree MANAGEMENT E FINANZA
Curriculum MANAGEMENT E RISORSE UMANE
Teaching leader BAICI Eliana
Teachers Baici Eliana
CFU 8
Teaching duration (hours) 64
Individual study time 136
SSD SECS-P/02 - POLITICA ECONOMICA
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 2
Period Primo Semestre
Grading type V
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Course Mercati emergenti
Course ID EC0021
Academic Year 2018/2019
Year of rule 2016/2017
Degree MANAGEMENT E FINANZA
Curriculum MANAGEMENT E RISORSE UMANE
Teaching leader TADINI MARCELLO
Teachers Tadini Marcello
CFU 6
Teaching duration (hours) 48
Individual study time 102
SSD M-GGR/02 - GEOGRAFIA ECONOMICO-POLITICA
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category C
Year 2
Period Primo Semestre
Grading type V
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Course DIRITTO PER IL MARKETING
Course ID EC0139
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader GARDELLA Bianca
Teachers Di Sarli Maria, Gardella Bianca, Serafino Andrea
CFU 8
SSD IUS/04 - DIRITTO COMMERCIALE, IUS/02 - DIRITTO PRIVATO COMPARATO
Course type Attività formativa integrata
Course mandatoriety OBB
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
Modules
Course ID Course SSD Teachers Agenda web
EC0140GLI ISTITUTI DEL MARKETING IUS/04 - DIRITTO COMMERCIALE Di Sarli Maria
EC0141COMPARATIVE MARKETING LAW IUS/02 - DIRITTO PRIVATO COMPARATO Gardella Bianca, Serafino Andrea
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Course DIRITTO PER IL MARKETING: GLI ISTITUTI DEL MARKETING
Course ID EC0140
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader DI SARLI MARIA
Teachers Di Sarli Maria
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD IUS/04 - DIRITTO COMMERCIALE
Course type Modulo di sola Frequenza
Course mandatoriety OBB
Course category B
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
Agenda web
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Course DIRITTO PER IL MARKETING: COMPARATIVE MARKETING LAW
Course ID EC0141
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader GARDELLA Bianca
Teachers Gardella Bianca, Serafino Andrea
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD IUS/02 - DIRITTO PRIVATO COMPARATO
Course type Modulo di sola Frequenza
Course mandatoriety OBB
Course category C
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
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Course MERCATI EMERGENTI
Course ID EC0136
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader TADINI MARCELLO
Teachers Tadini Marcello
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD M-GGR/02 - GEOGRAFIA ECONOMICO-POLITICA
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category C
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi Identifying Emerging Markets Ability to analyze and select emerging markets
Contenuti The course provides the basic knowledge that are preparatory to the analysis and interpretation of the markets. In particular, the course aims to deepen such countries can be considered emerging markets and what is the role played by them globally, in terms of competitiveness, investment attractiveness and contribution to development. Some of these markets are considered as case studies.
Testi di riferimento During lectures will be distributed handouts The course texts (available at the Department’s Library) are: 1. Dematteis G., Lanza C., Nano F., Vanolo A. (2010), Geografia dell’economia mondiale, Quarta edizione, Utet, Torino, cap. 2-7 2. Caroli M. (2012), Gestione delle imprese internazionali, McGraw-Hill, Milano, cap. 1-2-3-7 3. Bursi T, Galli G. (2012), Marketing internazionale, McGraw-Hill, Milano, cap. 1-3-4-5-6 4. Tadini M. (2017), La geografia del sistema economico globale. Il ruolo dei mercati emergenti, Aracne Editrice, Roma.
Obiettivi formativi The course aims to provide students with the basic knowledge to identify and explore emerging markets and interpret recent evolutionary dynamics. At the end of the course the student: − will understand the current global system of production; − will be able to identify emerging markets and to analyse their characteristics; − will evaluate and select possible alternative locations of enterprise; − will evaluate and select potential markets (emerging) of entry and how.
Prerequisiti None
Metodi didattici The teaching will be conducted through lectures, held by the teacher or by experts, and through exercises and group discussions.
Modalità di verifica dell'apprendimento The examination consists of a written test on the texts mentioned above and provides insights on the topics covered in class.
Programma esteso The course is divided into lessons of two hours, whose contents are listed below. • Internationalization and foreign markets entry modes • Multinationals corporations and foreign direct investment • The criteria for analysing localization in foreign markets • Some useful indexes for market analysis • The world system • Emerging markets: definition and representations • Emerging markets: key features • BRIC • Investments in and from emerging markets • Multinational corporations: cases and strategies • Sectorial analysis: the coffee market • Country cases and investment opportunities: Brazil, South Korea, Poland
Course borrowed to MANAGEMENT E FINANZA (1407) - EC0136 MERCATI EMERGENTI - NOVARA
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Course DATA AND PREDICTIVE ANALYTICS
Course ID EC0137
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader GOIA Aldo
Teachers Goia Aldo, Grampa Andrea Maria Luigi
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-S/01 - STATISTICA
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Contenuti The course presents the statistical methodology for the managment and the quantitative marketing with the support of ad hoc software.
Testi di riferimento Some selected chapters in: G. James, D. Witten, T. Hastie, R. Tibshirani (2013). An Introduction to Statistical Learning with Applications in R, Springer. Useful references: P. H. Franses , R. Paap (2010) Quantitative Models in Marketing Research. Cambridge University Press.
Obiettivi formativi The course introduces the main statistical tools for management and marketing with the aid of an ad hoc software. The aim is to increase the knowledge on the main multivariate exploratory and predictive statistical techniques, to develop analytical skills through the use of these techniques and the corresponding IT tools and develop a critical capacity in the use of the same.
Prerequisiti Contents of basic Statistics and of basic Mathematics in economics (see E0252, E0362 and EA007).
Metodi didattici Classroom lectures, laboratory exercises and seminar activities.
Modalità di verifica dell'apprendimento An assessment is based on a compulsory written test consisting in theoretical questions to test the knowledge of the concepts and the mastery of the language; numerical exercises to test abilities acquired in the use of calculation algorithms and of the software; structured data-based problems and commentary on the results in order to assess autonomy in the statistical analysis.
Programma esteso The course is divided in two parts. PART I - STATISTICAL METHODOLOGY FOR MANAGEMENT AND QUANTITATIVE MARKETING (4 CFU) 1. Review of probabilities and statistical inference. 2. Survey methods: statistical sampling and techniques for data collection in marketing research. 3. Data cleaning and pre-processing data. Exploratory analysis and data visualization. 4. Matrix representations of multidimensional data: data matrix, covariance matrix and correlation matrix, matrices of dissimilarity. 5. Main techniques of data-mining in management and marketing: • Hierarchical cluster analysis and k-means method. Segmentation methods; • Principal component analysis. 6. Multivariate linear regression model and logistic regression. 7. Conjoint analysis: general methodology and applications. 8. Customer satisfaction. PART II - INTRODUCTION TO DATA SCIENCE (2 ECTS) 1. What is a data scientist. 2. Types of data. 3. Quantity and quality of data. 4. The framework. 5. Introduction to big data. 6. How to present the results of the analysis.
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Course MARKETING STRATEGY AND MARKETING ANALYSIS AND DECISIONS
Course ID EC0138
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader MENOZZI ANNA
Teachers Menozzi Anna, Pera Rebecca
CFU 12
Teaching duration (hours) 90
Individual study time 210
SSD SECS-P/08 - ECONOMIA E GESTIONE DELLE IMPRESE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 2
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi At the end of the course, students will be able to describe the specific characteristics of marketing strategies, to indicate the necessary information and the most appropriate models to assess their effectiveness and measure their impact on business performance.
Contenuti The course consists of two modules: "Marketing Strategy" and "Marketing Analysis and Decisions". Main topics: Quantitative research in marketing, which variables to represent marketing objectives?, demand of goods and marketing strategies, models to represent consumer demand, digital marketing.
Testi di riferimento Wayne L. Winston, 2014. Marketing Analytics. Data-driven Techniques with Microsoft Excel. John Wiley & Sons Inc. Franses, Paap, 2001. Quantitative models in marketing research. Cambridge, chapters 1, 2 and 3. Slides in Moodle. Possible further lectures distributed during the lessons and then made available in Moodle, with specific indication of their mandatory/optional nature as far as the final examination is concerned.
Obiettivi formativi Analysis of marketing policies and tools by means of data-driven techniques using real data. The course content is mainly applied, with immediate verification of theoretical premises through the application of software-based methodologies by students.
Prerequisiti Students are invited to attend and pass the Data and predictive analytics exam.
Metodi didattici Teacher-led lessons (theory and exercises). Lessons will be held in Italian. As often as possible, lessons will take place in the computer classroom to allow the use of Excel.
Altre informazioni Useful resources: https://ideas.repec.org/ http://www.ssrn.com/en/ www.scholar.google.com www.scopus.com (from a University’s PC) http://apps.webofknowledge.com/UA_GeneralSearch_input.do?product=UA&search_mode=GeneralSearch&SID=Z1PHRcE6xJX5IyMyunz&preferencesSaved= (from a University’s PC) Attendance: Course attendance is not mandatory but it is highly recommended.
Modalità di verifica dell'apprendimento At the end of the course, students must take two different examinations, one for the "Marketing Strategy" module, one for the "Marketing Analysis and Decisions" module. The student has succeeded if and only if both exams are passed. The following applies to the Marketing Analysis and Decisions module. The exam will take different forms depending on whether the student has attended the course or not. It is said that a student is "attending" if he has prepared a work of analysis in group and has delivered it by the date set by the teacher. A. Attending students: The final exam consists of two parts: 1. Presentation of a project focused on the analysis of a dataset ad hoc built by the students or already available (10/30); 3. Written exam (22/30). The project must be prepared in teams of at least 3 and not more than 6 components. The project work may be written and displayed in English or Italian. The grade obtained is unique and will be assigned to all team members; it will be taken into consideration and added to the grade obtained in each subsequent written exam performed during the academic year 2018-2019. To obtain a grade for the project work, the student must deliver it by the date established by the teacher: the participation in the preparatory work will not be evaluated and will not grant any right to students who have not submitted the work in time to receive a grade for the same. The second part of the exam is in written form (in Italian) and will focus on all the material mentioned in the "Material" session, including the slides in Moodle but excluding the Moodle section dedicated to non-attending students. Students who have obtained a final grade equal to or greater than 18/30, can also take an optional oral exam and obtain an additional grade (up to +/- 2/30). Students can take up to 3 consecutive written exams during the June / July 2019, September 2019, January / February 2020 exam sessions. b. Non-attending students The exam is written (in Italian) and will focus on all the material mentioned in the "Material" session, including the slides in Moodle and the section dedicated to non-attending students. The maximum mark achievable for the written test is 32/30 ("thirty and praise"). Students who have obtained a final grade equal to or greater than 18/30, can also take an optional oral exam and obtain an additional grade (up to +/- 2/30). Students can take up to 3 consecutive written exams during the June / July 2019, September 2019, January / February 2020 exam sessions.
Programma esteso The course contents may vary depending on the needs and opportunities that may arise during the course itself (for example, presence of visiting professors, seminars, requested or necessary in-depth analyzes). 1. Quantitative analysis in the marketing research. Variables. 2. Continuous variables for representing marketing performance and their representation. 3. Representation of variables: discrete binomial and multinomial variables. Examples. 4. Ordered and unordered multinomial variables. Only partially observed variables. Duration variables. 5. Representation of multinomial variables and duration. Examples: the donation to a non-profit organization. Interpurchase time. 6. Continuous variables. The linear regression model. 7. Economic model for the representation of continuous variables. Food expenditure. 8. The estimation of a linear regression model. The ordinary least squares method. Interpretation of the estimated coefficients. 9. Construction of dummy variables. Seasonality and trend. 10. Nonlinear relationship between prices and sales, and between advertising and sales. Interaction variables. 11. Introduction to the concept of elasticity. 12. The elasticity of demand to price, cross elasticity of demand, income elasticity of demand. 13. Comportamento del consumatore
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Course FINANZA QUANTITATIVA
Course ID EC0152
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader FUSAI Gianluca
Teachers Fusai Gianluca, Kyriakou Ioannis, Gnutti Rita Rosaria
CFU 10
SSD SECS-S/06 - METODI MATEMATICI DELL'ECONOMIA E DELLE SCIENZE ATTUARIALI E FINANZIARIE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento English
Risultati di apprendimento attesi On successful completion of this module, you will be expected to be able to: Take positions in the market and be aware of their risk and potential Identify accurately complex risk factors and use appropriate tools in quantifying their impact Synthesise wide-ranging and complex information required to execute accurate and realistic risk assessments Demonstrate mastery of the range of quantitative skills required for modern risk management Execute complex risk assessments with high levels of accuracy and communicate outcomes effectively to all management levels of financial organisations Demonstrate a general risk versus reward business perspective Appreciate the importance of risk management for a wide range of stakeholders at trader, corporation and institution level Respect and value the role of financial regulation.
Contenuti There are three modules: Module 1 – Term structure models and pricing of some classic derivatives; Quantitative Models for Market and Counterparty Credit Risk (Prof. Gianluca Fusai) - 7 CFU Module 2 – Monte Carlo Simulation and application to option pricing and risk measures. (Prof. Ioannis Kyriakou) - 2 CFU Module 2 – Counterparty Credit Risk: Capital Requirements for Prudential Framework. (Prof. Gianluca Fusai) - 1 CFU
Testi di riferimento Teaching materials prepared by the instructors and published on the course web site (www.dir.uniupo.it). Other useful books: P. Christoffersen, Elements of Financial Risk Management Academic Press, 2° ed. P. Glasserman, Monte Carlo Methods In Financial Engineering, Springer-Verlag New York, 2003. Springer Text J. Hull, Options, Futures and other derivatives, 7th ed., 2014. Compreso il manuale con le soluzioni degli esercizi. P. Jorion, Value at Risk, 3rd edition, Mc-Graw Hill.P. Veronesi, Fixed Income Securities: Valuation, Risk, and Risk Management, Wiley. The above books are available in the library. Additional information is available on the D.I.R. page of the course
Obiettivi formativi At the end of the couse students should be able to:Module 1: bootstrap the interest rate curve from market data, measuring and managing the interest rate risk of a portfolio; price interest rate derivatives and structured portfolios. Measuring the market and credit risk (Value at risk, expected shortfall, credit value adjustment) Module 2: simulate stock price paths according to the most important stochastic processes, such as arithmetic and geometric Brownian motion, mean-reverting Gaussian processes and pricing equity derivatives by Monte Carlo simulation Module 3: assessing counterparty credit risk and the impact of regulatory requirements.
Prerequisiti It’s compulsory to have passed with success the exams of Derivatives and Portfolio Theory. Statistics for Finance, Business Information for Finance
Metodi didattici Lectures including both theory and exercises. Parts of the lectures will be run in the computer laboratory using Matlab
Altre informazioni Attendance of the lecture class is not compulsory but is strongly recommended. It is required the knowledge of Matlab.
Modalità di verifica dell'apprendimento Students attending the course have the opportunity of trough a coursework that requires the implementation of the models presented in class to real word case studies. This will require the use of Matlab. Another possibility is to have a written exam in English with theoretical and numerical questions. The structure of the exam aims to test the comprehension of the more advanced topics presented in the course, the skill of applying the acquired knowledges in order to analyse more complex and structured problems.
Programma esteso Module 1 – Interest rate structure and derivatives; Quantitative modelling of Market and Credit Risk (Prof. Gianluca Fusai) - 7 CFU Review of pricing interest rate swaps and bootstrapping the term structure of interest rates. The Black model and the pricing of caps, floors and swaptions. The world of negative rates: Displaced Black, Bachelier, Hull & White. The volatility surface. Pricing of structured products. Measuring the risk of portfolios. Equity and bond portfolio management: yield and risk measurement (standard deviation, value at risk (VAR) and expected shortfall (ES), duration and basis point value). Quantitative models for the evaluation of VAR and Expected Shortfall. Introduction to credit risk. Module 2 – Monte Carlo simulation (Prof. Ioannis Kyriakou) 2 CFU Simulating random variables. Simulating returns and stock price paths. Applications to option pricing. Measuring the simulation error. Variance reduction techniques. Case studies in option pricing. Module 3 – Counterparty Risk Prudential Framework (Prof. Rita Rosaria Gnutti) – 1 CFU Overview of scope of application of counterparty credit risk, of the main methodologies for computing capital charge (with particular focus on internal models) and on the planned regulatory evolutions. SACCR; CVA Charge, Initial Margin.
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Course RISK MANAGEMENT
Course ID EC0153
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader VALLETTA Mario
Teachers Valletta Mario, Gnutti Rita Rosaria
CFU 8
Teaching duration (hours) 60
Individual study time 140
SSD SECS-P/11 - ECONOMIA DEGLI INTERMEDIARI FINANZIARI
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 2
Period Primo Semestre
Grading type V
Lingua insegnamento English
Risultati di apprendimento attesi At the end of the course students should show: KNOWLEDGE- to know the factors determining the different types of risk faced by the management of financial institutions and their potential consequences; - to know the underlying logic, the fundamental technical features and the limits of the various models and instruments used to measure financial risks; - to know the logic foundations and the managerial and organizational implications of risk-adjusted performance evaluation models; - to know both the objectives and the structure of the relevant regulation for risk management in financial institutions. COMPETENCES -- to be able to apply the main models for the measurement of financial risks; - to be able to understand the impact of financial regulation on the managerial choices of financial institutions; - to be able to apply the acquired knowledges for the pricing of financial intermediaries’ products and services; - to be able to assess the different solutions aimed at the efficient allocation of capital among the various business units within a financial institution. TRANSVERSAL SKILLS - to be able to interconnect among each other’s topics faced in different chapters of the course; - to be able to present a set of clear and structured arguments dealing with the role of risk management in financial institutions and specific profiles of the relevant regulation; - to be able to read, comprehend and comment technical material from books, financial journals or other sources; - to know the technical terminology used by professionals, at both the domestic and the international level.
Contenuti The Course aims at analyzing the role of risk management and the problems connected with the evaluation and the management of financial risks for financial institutions. It provides, first of all, an in-depth insight about the features of the variuos types of risks to which financial intermediaries are exposed as well as of the main methods used in order to measure and evaluate such risks. A considerable attention is dedicated to both the organizational requirements and implications of these activities and the impact of EU and national regulation. Furthermore, the Course provides the knowledges needed to understand the meaning and the objectives of different risk-adjusted performance measures, as well as the logic and the managerial problems of the capital allocation process at banks.
Testi di riferimento Resti A. and Sironi A., Risk Management and Shareholders’ Value in Banking. From Risk Management Measurement Models to Capital Allocation Policies, Wiley Finance Series, 2007. The textbook is available at the Library of the Department. The whole volume with the following exceptions: chapter 7; paragraph 11.3 and Annexes 11A and 11B; paragraphs from 14.4 to 14.8; chapters 16 and 21; paragraphs 22.3 and 22.4; paragraph 24.4. The instructor will provide articles, working papers and reports in order to deepen specific course topics by the course official web page at the following link: https://eco.dir.unipmn.it . The login to the web page requires a password; please contact mario.valletta@uniupo.it to get it.
Obiettivi formativi 1. Knowledge and understanding: the students will acquire the knowledge about: the different risks to which financial intermediaries are exposed, the main methods for the analysis, the measurement and the evaluation of such risks, paying a particular attention to the organizational implications of these methods, and the role of Risk Management in the decision-making processes at financial intermediaries, in view of an effective capital allocation and an adequate value creation. 2. Applying knowledge and understanding: the course aims at developing the students’ ability to apply the knowledges in order to correctly analyze and evaluate the nature and the dimension of the different activities undertaken by a financial intermediary, so that their respective contribution to the overall managerial equilibrium of the firm, in terms of risk-adjusted performance, can be adequately evaluated. 3. Making judgments: the students will be able to apply the knowledge acquired, on both a theoretical and an operational basis, in order to make autonomous judgements about the profitability and riskiness of various types of activities comprising the business of financial intermediaries. 4. Communication skills: the students will acquire the ability to use the technical language used by professionals in the field of risk management. The knowledge of the most important information sources will make them able to better support their arguments. 5. Learning skills: the students will become familiar with the most important information sources, web sites (financial markets, supervision authorities, research centers) and free databases.
Prerequisiti None.
Metodi didattici 1. Knowledge and understanding: traditional face-to-face lessons and self-study based on teaching materials. During the Course some qualified guest speakers will be invited to share with the class their professional experience. 2. Applying knowledge and understanding: exercises carried-out by the teacher during the course and exercises based on previous written exams carried-out by the students (homework based on materials published on the course’s webpage). 3. Making judgments: students will be stimulated to make ajudgemets on relevant cases, also through assignments and presentations. 4. Communication skills: the meaning of the terms used by professionals in the field of risk management will be adequately explained. 5. Learning skills: every topic will be discussed beginning from the illustration of the problem and then analyzing the various possible solutions.
Altre informazioni Further information can be found in the Course official web page at the following link: https://eco.dir.unipmn.it The Course is compliant with the standards established by the Italian Association of Financial Industry Risk Managers (AIFIRM).
Modalità di verifica dell'apprendimento One compulsory written exam consisting of six questions (closed books and closed notes), covering the whole course syllabus and including exercises, with a 60-minute duration. During the period of teaching, all students may sit for a mid-term written exam (30-minute duration) covering the first part of the course contents and a final written exam (30-minute duration) covering the residual part of the course contents. 1. Knowledge and understanding: by written open questions. 2. Applying knowledge and understanding: through exercise. 3. Making judgements: by written open questions. 4. Communication skills: by written open questions. 5. Learning skills: by a mid-term exam during the course.
Programma esteso - Introduction on the course: objectives, program, assessment. - The role of Risk Management for an effective control of risks: lessons from the crisis - The types of risks faced by financial intermediaries. - Analysis, measurement and valuation of the interest rate risk: the repricing gap model, the duration gap model, models based on cash-flow mapping, internal transfer rates. - The market liquidity risk and the funding risk - Analysis, measurement and valuation of market risks: the variance-covariance approach, VAR models: applications and limitations. - Analysis, measurement and valuation of the credit risk: probability of default, exposure at default, loss given default, credit scoring models, recovery risk and loss given default. - Rating models. - Loan pricing models. - The basic features of operational risk. - Risk management, capital requirements and prudential supervision of banks: from Basel 1 to Basel 3. - The process of capital allocation in banks. - Risk-adjusted performance measures. - Cost of capital and value creation in banks.
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Course CORPORATE FINANCE
Course ID EC0154
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader Tenca Francesca
Teachers Tenca Francesca, Lombardi Maurizio Leonardo
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/09 - FINANZA AZIENDALE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category C
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
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Course INTERNATIONAL MACROECONOMICS
Course ID EC0151
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader ZAGLER MARTIN
Teachers Zagler Martin
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/02 - POLITICA ECONOMICA
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 2
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento English
Risultati di apprendimento attesi Students should obtain an understanding how the international macroeconomy works, in particular how economies are linked through exchange rates and the balance of payments.
Contenuti Exchange Rates, Balance of payments, and Special Topics
Testi di riferimento Feenstra, Robert and Alan M. Taylor (2017), International Macroeconomics, 4th edition, Macmillan Slides available at https://upobook.uniupo.it/martin.zagler
Obiettivi formativi Students should obtain an understanding how the international macroeconomy works, in particular how economies are linked through exchange rates and the balance of payments.
Prerequisiti Economics (macro), Economic Policy, Englis
Metodi didattici Lectures, exercises, discussions, student presentations
Altre informazioni none
Modalità di verifica dell'apprendimento Final Exam. For students that actively participate 1/3 of the exam can be substituted with a presentation and active participation.
Programma esteso 1. Introduction 2. Exchange rates and arbitrage 3. Loop, PPP and the long run 4. The short run and the Trilemma 5. Balance of Payments 6. National and international wealth 7. Fixed or floating exchange rates 8. Exchange rate crisis 9. The Euro
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Course INSURANCE
Course ID EC0133
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader VALLETTA Mario
Teachers Valletta Mario, Zocchi Paola
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/11 - ECONOMIA DEGLI INTERMEDIARI FINANZIARI
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 2
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi By giving a written exam, students must show: KNOWLEDGE - to know the fundamental features of the insurance “mechanism”; - to know the characteristics of the main types of both insurance and occupational pension contracts; - to know the fundamental profiles of the regulation of insurance contracts and insurance undertakings; - to know the logic underlying the definition of premiums and the quantification of technical reserves; - to know the features of insurance undertakings’ economic equilibrium model; COMPETENCES - to be able to interpret the technical and economic features of both insurance and occupational pension contracts from the contractor’s point of view; - to be able to interpret the technical and economic features of both insurance and occupational pension contracts from the insurer’s point of view; - to be able to analyze and evaluate the main economic margins of insurance companies (life and nonlife); - to be able to interpret the managerial implications of Solvency II regulatory environment; TRANSVERSAL SKILLS - to be able to interconnect among each other’s topics faced in different chapters of the course; - to be able to present a set of clear and structured arguments dealing with insurance theory and the management of life and nonlife insurance undertakings; - to be acquainted with the technical terminology used in the insurance sector at both the domestic and the international level; - to be able to read, comprehend and comment technical material from books, financial journals or other sources.
Contenuti N.B. Topics, teaching goals, teaching materials and the Course evaluation described below only apply to students whose undergraduate curriculum did not include any Course dealing with Insurance. In all other cases, students should complete an ad hoc syllabus agreed upon with the instructors. The Course deals with the role, the functions and the activities performed by insurance companies in the financial system and provides an in-depth insight about the functioning of the “insurance device” and the economic and technical characteristics of insurance contracts and private retirement plans. Furthermore, it aims at developing the knowledge of the different aspects of the management of insurance companies, from the underwriting process to asset-and-liability management, paying due attention to the EU and national regulatory framework. Both the nature and the dynamic of the need for private retirement plans are finally analysed.
Testi di riferimento - Santoboni F. (a cura di), Manuale di gestione assicurativa, Wolters Kluver CEDAM, 2017. Not to do: chapters 6 and 7. The textbook is available at the Library of the Department. - The instructors will provide articles, working papers and reports in order to deepen specific course topics by the course official web page at the following link: https://eco.dir.unipmn.it . The login to the web page requires a password; please contact the instructors to get it ( mario.valletta@uniupo.it or paola.zocchi@uniupo.it ).
Obiettivi formativi 1.Knowledge and understanding: the students will acquire the knowledges needed to understand: the features of the various types of “pure” risks as well as of the different techniques aimed at managing them; the features of the “insurance device”, including the conditions for the insurability of pure risks, the importance of mutuality, the logic underlying the pricing of insurance coverage, the nature and functions of technical reserves; the characteristics of insurance products and private retirement plans; the equilibrium conditions in the management of insurance companies and pension funds. 2. Applying knowledge and understanding: the ability to evaluate insurance and pension products by applying theoretical knowledges, and to evaluate the conditions of managerial equilibrium of insurance companies. 3. Making judgements: the ability of choosing the instruments best suited to satisfy insurance and pension needs and to evaluate their risks. 4. Communication skills: the students will acquire the ability to use the technical language used by professionals in the field at issue. The knowledge of the most important information sources will make them able to better support their arguments.
Prerequisiti None.
Metodi didattici 1. Knowledge and understanding: traditional face-to-face lessons and self-study based on teaching materials. During the Course some qualified guest speakers will be invited to share with the class their professional experience. 2. Applying knowledge and understanding: exercises carried-out by the teacher during the course and exercises based on previous written exams carried-out by the students (homework based on materials published on the course’s webpage). 3. Making judgments: students will be stimulated to make a judgemets on relevant cases, also through assignments and presentations. 4. Communication skills: the meaning of the terms used by professionals in the field of insurance will be adequately explained. 5. Learning skills: every topic will be discussed beginning from the illustration of the problem and then analyzing the various possible solutions.
Altre informazioni Further information can be found in the Course official web page at the following link: https://eco.dir.unipmn.it
Modalità di verifica dell'apprendimento One compulsory written exam consisting of six questions (closed books and closed notes), covering the whole course syllabus and including exercises, with a 60-minute duration. During the period of teaching, all students may sit for a mid-term written exam covering the first part of the course contents. 1. knowledge and understanding: by written open questions. 2. applying knowledge and understanding: through exercise. 3. making judgements: by written open questions. 4. communication skills: by written open questions. 5. learning skills: by a mid-term exam during the course
Programma esteso - Introduction on the course: objectives, program, assessment. - Risk and uncertainty. Pure risks vs. financial risks. - Methods of managing pure risks. - The features of the “insurance device” and elements of insurable risks. - Activities and functions performed by insurance companies. - The operational and economic characteristics of insurance contracts. - Life insurance: basic pricing methods, technical reserves, traditional contracts, unit- and index-linked contracts. - Property and Liability Insurance: basic pricing methods, technical reserves, types of contracts. - The management of insurance companies: the underwriting process and the financial aspects of insurance. - Coinsurance and reinsurance. - The business model of insurance companies and their balance sheet. - Capital requirements for insurance companies: from Solvency I to Solvency II. - The distribution of insurance products. - The need for private finance retirement products. - Types of private retirement products.
Course borrowed from MANAGEMENT E FINANZA (1407) - EC0133 INSURANCE - NOVARA
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Course ECONOMIA DEL PERSONALE
Course ID EC0207
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader AINA CARMEN
Teachers Aina Carmen, Ghinetti Paolo Carlo
CFU 14
SSD SECS-P/02 - POLITICA ECONOMICA, SECS-P/06 - ECONOMIA APPLICATA
Course type Attività formativa integrata
Course mandatoriety OBB
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
Modules
Course ID Course SSD Teachers Agenda web
EC0208ECONOMIA DEL PERSONALE I: TEORIA SECS-P/02 - POLITICA ECONOMICA Aina Carmen, Ghinetti Paolo Carlo
EC0209ECONOMIA DEL PERSONALE II: APPLICAZIONI SECS-P/06 - ECONOMIA APPLICATA Ghinetti Paolo Carlo
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Course ECONOMIA DEL PERSONALE I: TEORIA
Course ID EC0208
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader AINA CARMEN
Teachers Aina Carmen, Ghinetti Paolo Carlo
CFU 12
Teaching duration (hours) 90
Individual study time 210
SSD SECS-P/02 - POLITICA ECONOMICA
Course type Modulo di sola Frequenza
Course mandatoriety OBB
Course category B
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento ITALIAN
Risultati di apprendimento attesi Better understanding of the economic principles inspiring the functioning of HR and ability to design effective policies targeting companies’ objectives.
Contenuti The objective of the course is, first, to analyse the HR- Economic Theory that govern employment relations and company choices in the area of human capital, provision of incentives, careers, bonuses and personnel recruitment that companies implement, and also taking into account the socio-economic context in which they operate. Second, to provide the main HR - Tools needed for the empirical analysis of personnel and human resources’ policies, applied using specific statistics and econometrics tools, including an introduction to the use of the statistical/econometric software STATA.
Testi di riferimento HR - Economic Theory:Lazear, P.E. e Gibbs, M., Personnel Economics in Practice, Wiley, 2015 (LG). Further materials can be found on the web page of the courseHR - Tools:Baum, An Introduction to Modern Econometrics using Stata, Stata Press.Cameron e Trivedi, Microeconometrics using STATA, Stata Press. An introductory (micro)econometric book amongst the following:Thomson, Stock and Watson, Introduction to Econometrics, Pearson, 2005; Hill, Griffiths e Lim, Principles of Econometrics, Wiley, 2013.Further materials can be found on the web page of the course.
Obiettivi formativi Learning adequate competencies of theoretical and the empirical economics’ skills to lead projects and analyses in the area of Human Resources (HR).
Prerequisiti For students that have in their study plan Personnel Economics (14 CFU), it is compulsory having passed the HR Analytics course. It is also suggested the attendance of the Human Capital course
Metodi didattici Lectures; case studies and discussion of scientific articles; labs; discussion of articles from scientific journals; team work.
Altre informazioni Attendance is strongly suggested.
Modalità di verifica dell'apprendimento The integrated course (14 CFU) has an unique exam and it is written. It is possible to sit the exam not more than 3 times during a solar year. It is allowed to withdraw during the first 15 minutes of the exam. The exam last 2 hours and has 4 open questions, 3 on the programme of Personnel Economics I - Theory (2 on the Economic Theory part, 1 on the Tools part) and 1 on the programme of the Personnel Economics. II Applications. Students regularly attending the course can substitute the latter with a group work.For students of Personnel Economics (8CFU) the exam last 90 minutes and it is composed of 3 open questions on the programme HR - Economic Theory.
Programma esteso HR- Economic TheorySorting and Investing in Employers (Capitoli 1, 2, 3, 4; LG);Paying for Performance (Capitoli 9, 10, 11, 12; LG);Applications (Capitoli 13, 14, 15; LG).HR -ToolsIntroduction to STATAThe linear regression model as an economic tool;Models for qualitative and censored variables: probit, logit, multinomial logit, ordered probit, tobit and duration models;Impact analyses of the company policies in the area of HR and causality;Endogeneity and selection: instrumental variables and Heckman procedure;Panel data techniques.
Course borrowed to AMMINISTRAZIONE, CONTROLLO E PROFESSIONE (1406) - EC0016 Economia del personale - NOVARA
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Course ECONOMIA DEL PERSONALE II: APPLICAZIONI
Course ID EC0209
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader GHINETTI PAOLO CARLO
Teachers Ghinetti Paolo Carlo
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD SECS-P/06 - ECONOMIA APPLICATA
Course type Modulo di sola Frequenza
Course mandatoriety OBB
Course category C
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento ITALIAN
Risultati di apprendimento attesi Once working in a company, students will master how to manage HR to maximize the workers wellbeing and to achieve the expected business results.
Contenuti The course further develops the contents introduced in Personnel Economics I – Theory, through the analysis and discussion of scientific articles, the use of the economic and econometrics competencies developed in the companion course to answer specific research questions using real databases on firms, workers and individuals.
Testi di riferimento Scientific articles uploaded on the webpage of the course on the DIR platform
Obiettivi formativi Develop the competencies to use in a conscious and autonomous way the concepts and tools learned in Personnel Economics I – Theory, through the critical application to real data and cases.
Prerequisiti See the programme of Personnel Economics I - Theory.
Metodi didattici Lectures; case studies and discussion of scientific articles; labs; discussion of articles from scientific journals; group work.
Altre informazioni Attendance is strongly suggested
Modalità di verifica dell'apprendimento Attending students will receive a grade relative to their preparation and discussion of a group work by the end of the course.Non-attending students will answer a specific question (relative to the articles in the programme) in the written exam of the Personnel Economics I & II integrated course.
Programma esteso The course will cover a wide range of topics, including: analyse and then estimate the role of education and job experience on earnings; to identify who are the workers more at risk of being fired, how to pay workers, to use efficiently the main incentives schemes; how to increase workers’ satisfaction and so on.
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Course GOVERNO D'IMPRESA E SISTEMI INFORMATIVI AZIENDALI
Course ID EC0165
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader CANDIOTTO Roberto
Teachers Riva Patrizia, Candiotto Roberto, Gandini Silvia
CFU 8
SSD SECS-P/07 - ECONOMIA AZIENDALE, SECS-P/10 - ORGANIZZAZIONE AZIENDALE
Course type Attività formativa integrata
Course mandatoriety OBB
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
Modules
Course ID Course SSD Teachers Agenda web
EC0166GOVERNO D'IMPRESA SECS-P/07 - ECONOMIA AZIENDALE Riva Patrizia
EC0167SISTEMI INFORMATIVI AZIENDALI SECS-P/10 - ORGANIZZAZIONE AZIENDALE Candiotto Roberto, Gandini Silvia
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Course GOVERNO D'IMPRESA E SISTEMI INFORMATIVI AZIENDALI: GOVERNO D'IMPRESA
Course ID EC0166
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader RIVA PATRIZIA
Teachers Riva Patrizia
CFU 4
Teaching duration (hours) 30
Individual study time 70
SSD SECS-P/07 - ECONOMIA AZIENDALE
Course type Modulo di sola Frequenza
Course mandatoriety OBB
Course category C
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian, but part of the supporting materials – i.e. teacher slides - are edited in English.
Risultati di apprendimento attesi The course aims at providing knowledges about Corporate Governance Models having a special attention to those tools able to increase accountability, compliance, efficiency and efficacy. Students will be able to map roles and functions typical of the different top-bodies operating in companies in ordinary and in special situations.
Contenuti An adequate system of good corporate governance is of vital importance for the proper functioning of the production system, is necessary to qualify the company as a reliable counterpart in business and social dealings, and promote growth according to sound and prudential management criteria. In the first part of the course, after defining the concept of Corporate Governance, the main theories of reference will be studied in depth, investigating the origins, development and evolution of the various models and examining the effects on competitiveness and on the dynamics of growth and development of the enterprise in the long term. The prevailing patterns of corporate governance in the various contexts in which the company shows a significant capital fragmentation will be studied. The Corporate Governance pattern typical of the Italian system will be analyzed where such circumstance rarely occurs because of the special structure of share capital. In particular, ample time will be given to the study of governance issues typical of Italian listed and unlisted companies and to the role played by the internal control system in the context described. Then Internal Auditing issues will be discussed, such as: 1. specific features of the internal auditing system of industrial and financial companies; 2. the administrative liability of companies pursuant to Legislative Decree No. 231 and features of organizational models exempting from liability; 3. the role of the body of statutory auditors (and other supervisory bodies in one-tier and two-tier governance systems), the duties, the working methods; 4. the relationships between the various supervisory and control bodies in the various governance systems (traditional – one-tier – two-tier), overlaps, redundancies and evolutionary trends, a comparison of best practices in listed companies (outline of Codes of Conduct) and companies that do not access markets; 5. evaluation and verification of the internal auditing system, the role of the manager in charge of annual report composition; 6. the role of investor relator and the role of communication also with reference to the new obligations of the non-financial report ex Lex 254/2016.. Cases and workshop with expertwill be presented.
Testi di riferimento Slides specially prepared by the professor and by the expert invited will be made available to students for this course on the D.I.R.’ web page. The texts used for the lessons in the classroom and which serve as a reference text for taking the examination are: • Tettamanzi P., “Internal Auditing. Evoluzione storica, stato dell’arte e tendenze di sviluppo”, Egea, Milan, last edition. • Montalenti P., “La società quotata – trattato di diritto commerciale”, Cedam IV, last edition • Riva P., “Informazioni non finanziarie nel sistema di bilancio”, Ed. Egea, Milano, 2001.
Obiettivi formativi Slides specially prepared by the professor and by the expert invited will be made available to students for this course on the D.I.R.’ web page. The texts used for the lessons in the classroom and which serve as a reference text for taking the examination are: • Tettamanzi P., “Internal Auditing. Evoluzione storica, stato dell’arte e tendenze di sviluppo”, Egea, Milan, last edition. • Montalenti P., “La società quotata – trattato di diritto commerciale”, Cedam IV, last edition • Riva P., “Informazioni non finanziarie nel sistema di bilancio”, Ed. Egea, Milano, 2001.
Prerequisiti None
Metodi didattici The course consists in: • lectures; • business cases; • workshops whit experts. Extra classroom activities consist of studying the lessons shown in the analytical syllabus distributed by the professor the first day and published on D.I.R. and preparing group work. Group work will be presented and evaluated in the classroom.
Altre informazioni Course attendance is optional but recommended as case studies will be presented, experts invited to speak and workshops conducted. All the above activities facilitate learning. At the end of the course, for those who are interested in audit, there’s the possibility to evaluate a stage in professional offices and auditing firms, indicating their availability to the professor. Finally, students that would like to draft their own thesis in audit and assurance can ask to professor to participate at the research activity of the OCRI - Crisis and Business Recovery Observatory, of the Universities of Bergamo, Bocconi, UPO and Milan SAF. The professor will be available to speak with students weekly on Monday at 01:00 pm (by prior appointment), at the end of the lessons or by e-mail (patrizia.riva@uniupo.it).
Modalità di verifica dell'apprendimento For “Attending Students” the exam will consist in: 1. the implementation of two teamwork; 2. a final written exam; 3. the possibility to gain at most two additional points attending the scheduled workshops. The written exam must be taken at the end of the course in scheduled days or during the ordinary round (until February 2019). In order to be considered an “Attending Student”, one must develop the two teamwork. The final score will be determined as follows: • I teamwork: weight 30% • II teamwork: weight 30% • Final written exam: weight 40% In case of failure of the final written exam, the student can repeat it in following rounds. Teamwork score and points obtained attending the workshops will be valuable until February 2019. Therefore, from March 2019 they will no more be valuable and students will be considered “Non-Attending Students”. “Non-Attending Student” will get a written exam concerning all the documents made available by the professor and on the texts. Students who do not develop teamwork are considered “non-attending”.
Programma esteso The topics studied during the course are the following: 1. incident: when Corporate Governace fails. The experience of Enron and Parmalat; 2. shareholders vs stakeholders theory; 3. agency theory, transaction costs theory; 4. Italian Corporate Governance Code; 5. corporate governance in: UK, USA, France, Japan and Germany; 6. the “Golfo-Mosca law” and gender discrimination; 7. the IA activity phases. The enterprise risk management. The internal control system. The constitutive elements of SCI (workshop with an expert); 8. the Sarbanes-Oxley Act: the role of the auditing companies (workshop with an expert); 9. criminal liability for legal persons: Law 231/2001: presentation of some useful models to avoid incrimination (workshop with an expert); 10. application of criminal liability for legal persons: Law 231/2001: presentation of some models (workshop with an expert); 11. role of the Board of Statutory Auditors in ordinary and special situations (workshop with an expert); 12. incentive Mechanisms and Stock Options tools (workshop with an expert); 13. the “Non-Financial Disclosure” ex D. Lgs 254/2016: non-financial informations in annual reports (D.N.F.); 14. integrated reporting (workshop with an expert).
Course borrowed from AMMINISTRAZIONE, CONTROLLO E PROFESSIONE (1406) - E0381 CONTROLLO INTERNO E GOVERNO D'IMPRESA - NOVARA
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Course GOVERNO D'IMPRESA E SISTEMI INFORMATIVI AZIENDALI: SISTEMI INFORMATIVI AZIENDALI
Course ID EC0167
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader CANDIOTTO Roberto
Teachers Candiotto Roberto, Gandini Silvia
CFU 4
Teaching duration (hours) 30
Individual study time 70
SSD SECS-P/10 - ORGANIZZAZIONE AZIENDALE
Course type Modulo di sola Frequenza
Course mandatoriety OBB
Course category C
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
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Course EMERGING TRENDS IN HUMAN RESOURCE MANAGEMENT
Course ID EC0168
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader Pezza Roberto Massimiliano
Teachers Pezza Roberto Massimiliano, Villani Luca
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/10 - ORGANIZZAZIONE AZIENDALE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 2
Period Secondo Semestre
Grading type V
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Course SOCIOLOGIA DEL LAVORO
Course ID EC0164
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader POY SAMUELE
Teachers Poy Samuele
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SPS/09 - SOCIOLOGIA DEI PROCESSI ECONOMICI E DEL LAVORO
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category C
Year 2
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi At the end of the course, students will acquire theoretical and empirical competences to deal in the HR area. They will be able to recognize important trends and will have developed critical thinking skills. The empirical methods students will developed (program evaluation) find large application in different contexts, including activities of firms.
Contenuti This course aims at providing students with tools useful to interpret, analyze and reflect on the fundamental dynamics charactering the world of work. The course will cover both theoretical (i.e. classical sociological theories) and applied issues (thematic focus). Finally, students will develop skills related to methods of research, particularly on counterfactual impact evaluation and public policy analysis.
Testi di riferimento Semenza, R., Manuale di sociologia del lavoro - nuova edizione, 2018, UTET (S). Martini, A., Sisti, M., Valutare il successo delle politiche pubbliche, 2009, Il Mulino (MS). Scientific papers part of the course programme on some specific issues (competences, digital revolution and new jobs, Neet, welfare state models and flex-security, entrepreneurship) will be indicated on the dir platform (slides). Slides are provided on the dir platform.
Obiettivi formativi At course completion, students will have developed new theoretical and methodological tools useful to understand and interpret the main phenomena affecting the world of work and its trends. For example, students will be able to understand and interpret the evolution of sociological thought with respect to topics such as the meaning of work, the division of work, conflict, work as a way to create social cohesion. They will also recognize some of the main problems related to modern world of work. Students will also have reasoned on the role of public intervention, and on the importance of a rigorous estimate of the effects produced by public policies.
Prerequisiti None
Metodi didattici Teaching methods include: lectures, discussion of scientific articles, seminars.
Altre informazioni Attendance is suggested.
Modalità di verifica dell'apprendimento For students with the team work: The students who participate actively by: i) 70% attendance at teaching sessions; ii) presence at seminars, presentation of a scientific article, and project work activities earns 40% of the final grade; the remaining part (60%) is represented by a written exam. The exam is unique and written. The exam has 3 open questions (and last 1 hour and 45 minutes). For students without team work: The exam is unique and written. The exam has 5 open questions (and last 2 hours and 30 minutes). It is possible to sit the exam not more than 3 times during a solar year. It is allowed to withdraw during the first 15 minutes of the exam.
Programma esteso Part I: theory The meaning of work and the boundaries of work (S, pp. 3-12) Classical sociology: K. Marx, E. Durkheim, M. Weber (S, pp. 27-40). Taylorism and Fordism (S, pp.41-45) The post-fordism era (S, pp. 62-65) Part II. Thematic focus The role of competences in the labour market (course material indicated on the dir platform - slides) Digital revolution and new jobs (course material indicated on the dir platform - slides) Self-employment (course material indicated on the dir platform - slides) The Neet phenomenon (course material indicated on the dir platform - slides) Welfare models and flex-security (course material indicated on the dir platform - slides) Part III. Methods for public policy evaluation Introduction to counterfactual impact evaluation methods (MS, Chapter 1 pp.22-26 and pp. 33-37; Chapter 6). Randomized experiments (MS, Chapter 8, pp. 159-160; 163-170; 179-183) Non-experimental methods: Difference-in-differences (MS, Chapter 9, pp. 189-191; pp. 193-196). Matching (MS, Chapter 11, pp. 221; pp. 225-232) Regression discontinuity design (MS, Chapter 12, pp. 245-249)
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Course Bank Treasury & ALM
Course ID EC0263
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Villa Marina
Teachers Villa Marina
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Secondo Semestre
Site NOVARA
Grading type G
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Course Blockchain, Bitcoin & Smart Contracts
Course ID EC0264
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Morini Massimo
Teachers Morini Massimo
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Secondo Semestre
Site NOVARA
Grading type G
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Course Business Process Reengineering
Course ID EC0265
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Cantoni Alberto
Teachers Cantoni Alberto
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Primo Semestre
Site NOVARA
Grading type G
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Course Conoscere il consumatore - Digital Marketing
Course ID EC0266
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Doninelli Alessandro
Teachers Doninelli Alessandro
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Secondo Semestre
Site NOVARA
Grading type G
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Course Corporate Governance
Course ID EC0267
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader VERONESE Barbara
Teachers Veronese Barbara
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Secondo Semestre
Site NOVARA
Grading type G
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Course Entrepreneurial Finance
Course ID EC0269
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Scalvini Livio
Teachers Scalvini Livio
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Secondo Semestre
Site NOVARA
Grading type G
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Course Excel, VBA & Access Automation
Course ID EC0270
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader De Luca Fabio
Teachers De Luca Fabio
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Primo Semestre
Site NOVARA
Grading type G
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Course Finanza delle Imprese di Assicurazione
Course ID EC0271
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Carlino Stefano
Teachers Carlino Stefano
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Secondo Semestre
Site NOVARA
Grading type G
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Course Fintech
Course ID EC0272
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Zenti Raffaele
Teachers Zenti Raffaele
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Secondo Semestre
Site NOVARA
Grading type G
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Course HR Strategy e Business Strategy
Course ID EC0273
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Cammarata Maria Luisa
Teachers Cammarata Maria Luisa
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Primo Semestre
Site NOVARA
Grading type G
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Course IFRS9
Course ID EC0274
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Socci Cristiano
Teachers Socci Cristiano
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Annuale
Site NOVARA
Grading type G
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Course Il Megamarketing delle Aziende del Mondo B2B
Course ID EC0275
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Barberio Massimo
Teachers Barberio Massimo
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Primo Semestre
Site NOVARA
Grading type G
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Course LEADERSHIP E ASSERTIVITA': UNA COMBINAZIONE VINCENTE
Course ID EC0197
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Spadafora Diego
Teachers Spadafora Diego
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Primo Semestre
Site NOVARA
Grading type G
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Course Learning Organization
Course ID EC0276
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader VILLA DANILLO
Teachers Villa Danillo
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Primo Semestre
Site NOVARA
Grading type G
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Course Management delle Società Sportive Professionistiche
Course ID EC0278
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Ferraris Michele
Teachers Ferraris Michele
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Primo Semestre
Site NOVARA
Grading type G
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Course Neuroscienze e Comunicazione
Course ID EC0279
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Zizzadoro Filippo
Teachers Zizzadoro Filippo
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Primo Semestre
Site NOVARA
Grading type G
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Course PEOPLE & IDEAS
Course ID EC0196
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Pomponi Aldo
Teachers Pomponi Aldo
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Primo Semestre
Site NOVARA
Grading type G
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Course Real Estate
Course ID EC0280
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Bollea Alberto
Teachers Bollea Alberto
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Primo Semestre
Site NOVARA
Grading type G
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Course Strategie Omnichannel
Course ID EC0282
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader VIGANO' MARCO LUIGI RENATO
Teachers Vigano' Marco Luigi Renato
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Secondo Semestre
Site NOVARA
Grading type G
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Course Evoluzione dei Sistemi di Valutazione nelle Aziende: Modelli e Casi Pratici
Course ID EC0283
Academic Year 2018/2019
Year of rule 2017/2018
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader Savoia Silvio
Teachers Barge Antonio, Savoia Silvio
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD NN -
Course type Attività formativa monodisciplinare
Course category D
Year 2
Period Primo Semestre
Site NOVARA
Grading type G
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Course CONGIUNTURA ITALIANA ED INTERNAZIONALE ED INTERNATIONAL TRADE
Course ID EC0124
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader AMIGHINI Alessia
Teachers Carabelli Anna Maria, Amighini Alessia
CFU 12
SSD SECS-P/01 - ECONOMIA POLITICA, SECS-P/02 - POLITICA ECONOMICA
Course type Attività formativa integrata
Course mandatoriety OBB
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Modules
Course ID Course SSD Teachers Agenda web
EC0125CONGIUNTURA ITALIANA ED INTERNAZIONALE SECS-P/01 - ECONOMIA POLITICA Carabelli Anna Maria
EC0126INTERNATIONALE TRADE SECS-P/02 - POLITICA ECONOMICA Amighini Alessia
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Course CONGIUNTURA ITALIANA ED INTERNAZIONALE ED INTERNATIONAL TRADE: CONGIUNTURA ITALIANA ED INTERNAZIONALE
Course ID EC0125
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader CARABELLI Anna Maria
Teachers Carabelli Anna Maria
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/01 - ECONOMIA POLITICA
Course type Modulo di sola Frequenza
Course mandatoriety OBB
Course category B
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Course borrowed to MANAGEMENT E FINANZA (1407) - EC0125 CONGIUNTURA ITALIANA ED INTERNAZIONALE - NOVARA
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Course CONGIUNTURA ITALIANA ED INTERNAZIONALE ED INTERNATIONAL TRADE: INTERNATIONALE TRADE
Course ID EC0126
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader AMIGHINI Alessia
Teachers Amighini Alessia
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/02 - POLITICA ECONOMICA
Course type Modulo di sola Frequenza
Course mandatoriety OBB
Course category B
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi Understanding international trade and foreign direct investments.
Contenuti This course analyzes the drivers and features of the ongoing globalization process from the point of view of international economics. Its aim is providing a broad perspective interconnecting historical processes with contemporary questions on the future of the world economy. Lectures will develop and liaise several methodological approaches and levels of analysis: present day events; economic theory; empirical investigations. Students will also learn key methodological tools. Specifically the course addresses the following questions. What are the historical roots of globalization? How do we explain global imbalances? What are the gains from trade and why do countries trade among themselves? Why is protectionism a cost and why we have multilateral trading regulations? What is the place of Italy in the global economy?
Testi di riferimento Keith Head, Elements of Multinational Strategy
Obiettivi formativi Providing a broad perspective interconnecting historical processes with contemporary questions on the future of the world economy.
Prerequisiti Economia politica e Politica economica
Metodi didattici Lectures
Altre informazioni See course website on DIR
Modalità di verifica dell'apprendimento Written exam
Programma esteso Topic 1 Understanding the global economy Drivers and features of economic globalisation The role of trade in economic globalisation Tools: Balance of payments Readings: Baldwin R. and P. Martin, 1999, Two Waves of Globalisation: Superficial Similarities, Fundamental Differences, NBER WP No. 6904 Feenstra, R. (1998), Integration of Trade and Disintegration of Production in the Global Economy, Journal of Economic Perspectives, vol. 12(4), pp. 31-50 OECD (2013) Economic globalisation, Chs. 2, 3, 4 Topic 2 Measuring the global economy The rise of global value chains The future of value chains, global or regional Tools: Global value chains Readings: OECD (2013), Interconnected economies IMF (2013), Trade Interconnectedness: The World With Global Value Chains. Topic 3 Understanding gains from trade Comparative advantage and the gains from trade Competitive advantage and competitiveness Tools: Comparative and competitive advantage Readings: Keith Head, Elements of Multinational Strategy, chs. 1, 2 7. Lecture slides and handouts Topic 4 Italy in the global economy Three decades of Italian comparative advantages Italy in global value chains Readings: De Benedictis (2005), Three decades of Italian comparative advantages, The World Economy, vol. 28(11), pp. 1679-1709. Selected parts of Banca d’Italia, Relazione annuale 2017 Lecture slides and handouts.
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Course MANAGERIAL INCENTIVES
Course ID EC0127
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader MENOZZI ANNA
Teachers Menozzi Anna
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/08 - ECONOMIA E GESTIONE DELLE IMPRESE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi At the end of the course, the student will be able to: 1.Define the firm as a focal point for a set of contracts. 2.Identify important owner-manager conflicts, as well as other potential stakeholder conflicts. 3.Explain how contracts can be used to help control incentive problems. 4.List the important trade-offs in effective compensation plans. 5.Identify the various forms of incentive pay and discuss the controversy surrounding incentive pay. 6.Describe the decision authority and incentives of shareholders, boards of directors, and top management of large corporations. 7.Explain how market forces contribute to corporate governance.
Contenuti In recent years, a number of corporate problems around the world have reinforced the perception that managers are unwatched. The course starts by emphasizing the importance of managerial accountability. Then, the course offers a review of the various instruments and factors that help align managerial incentives with those of firm. A special attention is devoted to the objective of the firm, namely, whom managers should be accountable to.
Testi di riferimento Brickely, Smith, Zimmerman - Managerial Economics and Organizational Brickely, Smith, Zimmerman - Managerial Economics and Organizational Architecture. Irvin McGraw Hill, sesta edizione (capitoli X, XV, XVII) Tirole. The Theory of Corporate Finance. Princeton University Press (chapter I).
Obiettivi formativi Comprehension of the managerial incentives systems and problems in relation to firm objectives and performance.
Prerequisiti The course does not require any particular prerequisite.
Metodi didattici Teacher-led lessons (theory and exercises).
Altre informazioni Course attendance is not mandatory but it is highly recommended. Useful resources: https://ideas.repec.org/ http://www.ssrn.com/en/ www.scholar.google.com www.scopus.com (from a University’s PC) http://apps.webofknowledge.com/UA_GeneralSearch_input.do?product=UA&search_mode=GeneralSearch&SID=Z1PHRcE6xJX5IyMyunz&preferencesSaved= (from a University’s PC)
Modalità di verifica dell'apprendimento The exam takes different forms depending on whether the student has attended the course or not. A student is said to be “attending” if he/she prepared a presentation in team and presented it in front of the (see part 1 of the exam for attending students). a. Attending students The final exam consists of two parts: 1. Presentation in front of the class (10/30); 2. Written exam (22/30). The presentation (of about 20’) must be prepared in team of at least 3 and no more than 5 persons. The presentations may be given and written in English or Italian. The presentation will be based on one or more scientific articles chosen by the students among the ones proposed by the teacher in the dedicated section in Moodle. Alternatively, the presentation will focus on a real event that has to be described and evaluated in light of the theory learned during the course. The presentation will focus on a subject included in the course arguments. The grade obtained in the presentation is unique and will be assigned to all team members; it will be taken into account and added to the grade obtained in any future written exam taken during the a.a. 2018-2019. In order to obtain a grade for the presentation, the student must attend the day of the presentation: the participation to the presentation’s preparatory works will not be evaluated and does not grant any right to the students who will not present in class to receive a grade for the presentation itself. The second part of the exam is in writing (in Italian) and will focus on all the material mentioned in the "Course texts" session, including the slides in Moodle but excluding the Moodle section dedicated to non-attending students. Examples of questions and exercises included in the written exam can be found in the "Self-evaluation problems" and "Review questions" sections at the end of each chapter of Brikley, Smith, Zimmerman (sixth edition). Students who had obtained a final grade equal to or greater than 18/30, can also take an optional, oral exam and get a supplementary grade (up to +/-2/30). Students can take up to 3 consecutive written tests during the exams sessions of June/July 2019, September 2019, January/February 2020. b. Non-attending students The exam is in writing (in Italian) and will focus on all the material mentioned in the "Course texts" session, including the slides in Moodle and the section dedicated to non-attending students. Examples of questions and exercises included in the written exam can be found in the "Self-evaluation problems" and "Review questions" sections at the end of each chapter of Brikley, Smith, Zimmerman (sixth edition). The maximum grade attainable at the written exam is 32/30 (“trenta e lode”). Students who had obtained a final grade equal to or greater than 18/30, can also take an optional, oral exam and get a supplementary grade (up to +/-2/30). Students can take up to 3 consecutive written tests during the exams sessions of June/July 2019, September 2019, January/February 2020.
Programma esteso The course contents may vary depending on the needs and opportunities that may arise during the course itself (for example, presence of visiting professors, seminars, requested or necessary in-depth analyzes). 1. Incentive Conflicts within Firms a. Owner-Manager Conflicts b. Other Conflicts 2. Controlling Incentive Problems through Contracts a. Costless Contracting b. Costly contracting and Asymmetric Information c. Postcontractual Information Problems d. Precontractual Information Problems 3. Implicit Contracts and Reputational Concerns 5. The Basic Incentive Problem a. Incentives from Ownership b. Optimal Risk Sharing 6. Effective Incentive Contracts a. Principal-Agent Model b. Informativeness Principle c. Group Incentive Pay d. Multitasking e. Forms of Incentive Pay f. Incentive Compensation and Information Revelation g. Selection Effects of Incentive Contracts 7. Does Incentive Pay Work? 8. Publicly Traded Corporations a. Corporate Form of Organization b. Stock Exchanges c. Stock Ownership Patterns d. Governance Objectives 9. Separation of Ownership and Control a. Incentive Issues b. Survival of Corporations c. Benefits of Publicly Traded Corporations 10. Top-Level Architecture in U.S. Corporations a. Sources of Decision Rights b. Shareholders c. Board of Directors d. Top Management e. External Monitors 11. International Corporate Governance 12. Market Forces 13. Sarbanes-Oxley Act of 2002 14. Corporate Governance: An Historical Perspective 15. Negotiation
Course borrowed to MANAGEMENT E FINANZA (1407) - EC0127 MANAGERIAL INCENTIVES - NOVARA
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Course COST MANAGEMENT AND PERFORMANCE MANAGEMENT
Course ID EC0128
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader SONGINI LUCREZIA
Teachers Songini Lucrezia, Riva Patrizia, Vola Paola
CFU 8
Teaching duration (hours) 60
Individual study time 140
SSD SECS-P/07 - ECONOMIA AZIENDALE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category C
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian, but part of the supporting materials – i.e. teacher slides - are edited in English.
Risultati di apprendimento attesi At the end of the course students will able to: 1. design, understand and use autonomously tools to plan and manage the future cost level, and mechanisms to measure and evaluate costs and corporate performance for a strategic and sustainability point of view; 2. design, understanding and use systems to measuring corporate performance; 3. read and understand an integrated reporting.
Contenuti The course is divided into three integrated didactic modules, closely linked to each other. The current competitive context, characterized by consumption and information economy and lean enterprise approach, requires companies to adopt consistent and innovative managerial mechanisms. Among them, cost management and performance management tools are particularly relevant. These tools are represented by the entire set of managerial mechanisms that, supporting company’s strategies, deal with cost planning and management, and, ultimately, profitability. The course presents tools and methodologies supporting the planning of future costs level and profitability both under firm’s performance and sustainability point of view. The focus is not only on corporate performance but also on strategic units and functions. Moreover, the course tackles the issue of managers’ evaluation based on cost management and performance management tools. Then, a specific module is dedicated to non-financial communication for both internal and external stakeholders. Integrated reporting techniques are in-depth presented. Teaching methods include case studies discussion and companies’ presentations.
Testi di riferimento Adopted books, both for attending and non-attending students, are: - Songini L. “Target Costing: pianificazione e gestione della redditività”, Milano, EGEA. - Pistoni A., Songini L. “Reporting e valore. Misurazione delle performance aziendali”, Milano, EGEA, first part – chap. from 1 to 4. - Songini L., Pistoni A. “Sustainability Disclosure: State of the Art and new directions”, Emerald, 2015. - Paola Vola “La pianificazione strategica per il family business: mappa strategica e balanced scorecard”, Aracne Editrice, 2012, chap. 2 - Paola Vola, in L. Brusa, “Sistemi Manageriali di programmazione e controllo” Giuffrè, seconda edizione, 2012, chap. 7, par 7.4 – L’Activity Based Management – e chap. 2, par. 2.19. – Altri approcci di cost accountig: cenni – - Riva P. “Le misure non finanziarie nel Sistema di bilancio. Comunicare le misure di performance” EGEA, chap. 1, 2 e 3, 2001. Only some parts of the cited texts have to be studied by students. Some texts will be available to students in pdf format. Both for attending and non-attending students, didactic material includes also slides, case studies and papers made available by teachers. A part of didactic material is in English. Didactic material is available on DIR course web site at https://www.dir.uniupo.it
Obiettivi formativi The course aims at presenting design criteria and operating modes of cost management and performance management tools, making students able to use them in different contexts. Consequently, course objectives are: 1. Learning of cost management and performance management tools; 2. Developing skills to use acquired knowledge; 3. Developing skills to exploit cost management and performance management tools in different contexts; 4. Developing skills to implement cost management systems, balanced scorecards, and integrated reports including all non-financial measures.
Prerequisiti None
Metodi didattici The course exploits three different teaching methods: 1. Traditional lessons, in which issues, problems, solutions and tools are presented to students; 2. Case studies, that present theoretical issues in practical and real situations (also multi-media case studies will be used); 3. Companies /professionals presentations by entrepreneurs, managers, foreign professors, and experts. 4. Students’ direct involvement with teamwork case studies presentations, and “role games”. The course is highly interactive considering students’ involvement through teamwork, monographic insights and real case studies discussions. Teamwork will focus on course issues in order to put into practice principles, methodologies, and techniques presented during traditional lessons. Course attendance is not mandatory but is highly recommended.
Altre informazioni None
Modalità di verifica dell'apprendimento Both for attending and non-attending students, the exam will consist in a final written exam with open question to verify the skills acquired during the course, and with the discount of a case to verify the ability of students to apply knowledge and to judge and deal independently with a specific business environment Each didactic module cannot be done separately; but they must token in the same date. The exam will be considered passed if the student gets 18/30 in each of the three didactic module. For those who have not participated to a teamwork, the exam will consist in a written test. Instead, in the case of participation to a teamwork, the written test will be shorter and the vote obtained in the written test will be added to the score obtained in teamwork. This score will include in particular the capabilities and ability to understand a business environment, critical application of models and tools and the ability to represent results reached effectively in class to other students (through e.g. structured PowerPoint presentations).
Programma esteso The topics of the course are the following: FIRST PART –PROF.SSSA SONGINI 1. The new economic context. Information economy and lean enterprise: managerial challenges; 2. Company’s profitability determinants; 3. Strategic cost management and performance management: general framework; 4. Strategic cost management and profitability methodologies and tools: target costing, life cycle costing, interorganizational cost management systems. SECOND PART – PROF.SSA VOLA 5. Costs improvement methodologies and tools: activity based costing and activity based management, kaizen costing, etc; 6. Strategy implementation: methodologies and tools for the evaluation of firm performance (balanced scorecard, performance pyramid, etc) THIRD PART – PROF.SSA RIVA 7. Non-financial measures, as primary issues to be communicated to stakeholders; 8. The historical path from balance sheet to integrated report; 9. Reading and drafting integrated report; 10. D.N.F. ex 245 Law.
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Course VALUTAZIONE E STRATEGIE DI INVESTIMENTO
Course ID EC0122
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader ERBETTA Fabrizio
Teachers Erbetta Fabrizio
CFU 8
Teaching duration (hours) 60
Individual study time 140
SSD SECS-P/08 - ECONOMIA E GESTIONE DELLE IMPRESE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi - Knowledge and understanding: at the end of the course, the student will have to acquire knowledge about the financial principles of valuation of industrial investments. - Ability to apply knowledge and understanding: at the end of the course, the student will have acquired the ability to implement industrial investment assessment models by adopting a "problem solving" approach, by selecting appropriate variables for the purpose of decision making. - Cross-skills: Judgment autonomy: the student will have acquired the ability to collect and re-elaborate information useful to the investment selection process; Communicative Skills: The student will have acquired the ability to communicate and interact with his / her interlocutors using a suitable financial language; Learning Skills: The student will have cognitive and analytical tools that will enable him/her to deal with decision-making problems autonomously
Contenuti The course describes the theory and practice of decision making processes in capital budgeting, ie in the field of industrial investment choices. In particular, the course compares different methodologies used in investment decisions. A particular focus will then be devoted to the appropriate calibration of the models based on the inherent risk of the projects being analyzed.
Testi di riferimento Brealey R.A., Myers S.C., Allen F., sandri S. (2015) "Capital Budgeting", Forth Edition, McGraw-Hill, Milan with the exclusion of paragraph 5.4, of chapters 6 and 13.
Obiettivi formativi The course aims at providing students with the tools they need to understand the issues related to some aspects of industrial investment decisions, while delineating a method of structuring analysis functional to the problem solving. The training course requires students to develop: - knowledge and understanding of models for strategic and operational analysis in support of industrial investment decision-making; - the ability to apply the proposed models in specific problems of managerial and entrepreneurial decisions; - the ability to interpret and evaluate the effects of managerial choices on value creation for the company and its shareholders.
Prerequisiti No prerequisite
Metodi didattici Frontal lessons and exercises, oriented to developing a "problem-solving" approach.
Modalità di verifica dell'apprendimento The exam is written and also alows to obtain the laude. The written exam consists of two parts: - The theoretical part, which allows a maximum score of 15 points, is intended to verify the understanding of the issues addressed and is made up of questions that can be both open and closed. - The applied part, which allows a maximum score of 17 points, aims to verify the ability to apply knowledge through a stylized case where some issues related to investment decisions are formulated. The written vote can be supplemented with an optional oral test, according to which the written vote can be increased (but also reduced) by up to 3 points. The oral examination, in which questions may have both a theoretical and applied nature, may be supported only on the date fixed for the registration of the votes of the written examination. Only students who have obtained a sufficient grade (higher than or equal to 18/30) are eligible for oral examination.
Programma esteso - Part I. Introduction to Finance and industrial investment issues: the role of financial manager. - Part II. Financial analysis and planning: financial planning models. - Part III. Financial and short term planning: construction and analysis of financial statements. - Part IV. Present Value: introduction of the Present Value concept and calculation mode; role of cost-opportunity of capital. - Part V. Determining the Present Value of constant and growing rents, perpetual and non-perpetual. - Part VI. Comparison between different valuation methodologies (Net Present Value, Internal Rate of Return, Recovery Period, Profitability Index). - Part VII. Practical issues in the area of ​​investment assessment using the Net Present Value method. - Part VIII. Introduction to Risk, Performance and Cost-Opportunities of Capital - Part IX. Methods for determining the fair expected return on risky investment projects. - Part X. Risk and Capital Budgeting. Determination of weighted average cost of capital - Part XI. Sensitivity analysis and real options associated with investment decisions.
Course borrowed to AMMINISTRAZIONE, CONTROLLO E PROFESSIONE (1406) - EC0013 Financial management - NOVARA
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Course METHODS OF OPERATIONS MANAGEMENT
Course ID EC0121
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader GAMBARO ANNA MARIA
Teachers Gambaro Anna Maria
CFU 8
Teaching duration (hours) 60
Individual study time 140
SSD SECS-S/06 - METODI MATEMATICI DELL'ECONOMIA E DELLE SCIENZE ATTUARIALI E FINANZIARIE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Contenuti Linear programming, project management, queueing theory, inventory management.
Testi di riferimento - Bellenzier L., Grassi R., Stefani S., Torriero A., Metodi quantitativi per il Management, Esculapio, 2012. - Hillier S., Lieberman G.J., Ricerca Operativa, 9/ed., McGraw Hill, 2010 (please follow the instructions published on the DIR site)
Obiettivi formativi At the end of the course, the student should know the technical instruments of operation management, in order to solve simple management problems using a quantitative approach. They should learn concepts and terminology of some optimization procedure techniques and project management. They should also be able to apply quantitative methods to simple problems also using Excel and to justify in a sufficiently rigorous way the implemented solutions.
Prerequisiti Solution of Linear Algebraic systems. Notions of random variable and probability distribution. Basic differential calculus in one or more variables.
Metodi didattici Lectures and practise exercise and computer laboratory.
Modalità di verifica dell'apprendimento One written exam and an optional oral exam. Written exam: - three exercises to verify the ability of applying the studied techniques to practical problems and/or to discuss the results, - one theoretical question to assess the knowledge level and the technical language. Oral exam: - theoretical questions to test communication skills - analysis of practical problems to test the reasoning ability. The exam can be replace by one mid-term exam plus one final exam the week after the end of the course.
Programma esteso Linear programming: examples, definitions, simplex algorithm and its implementation in Excel. Duality, sensitivity analysis with exemplifications in Excel, Integer Linear Programming (HINT). Project management: project graphs, Gantt chart, CPM and PERT. Queueing theory: definition and properties of a queueing system, Markovian queue. Inventory management: Economic order quantity model with deterministic demand, one period model with random demand, basic idea of the dynamic programming technique.
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Course STRATEGIE E POLITICHE D'IMPRESA
Course ID EC0134
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader MAGGI Davide
Teachers Maggi Davide, Seddio Pasquale
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/07 - ECONOMIA AZIENDALE
Course type Attività formativa monodisciplinare
Course mandatoriety OPZ
Course category C
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi 1. Applying knowledge and understanding. The knowledge acquired during the course will allow the student to use the strategic, managerial and organizational skills and competences to be applied in the business realities. In particular, the student must acquire the technical-economic language of the company disciplines and be able to formulate the economic analysis of the company processes and to understand the critical elements that characterize the areas of activity carried out by the company. 2. Making judgments. The course will allow the student to develop an autonomy of judgment and will put the student in the conditions to express considerations regarding the company balances and management facts. 3. Communication skills. On the basis of the acquired knowledge, the student will be able to develop communication and relational skills for the business consulting activity and to perform evaluations of a strategic nature, in the job positions related to the relative function. 4. Learning skills. The study of the discipline will allow the student to understand the dynamics of the company framing the analysis of the single management moment in the unitary and coordinated vision of the business facts and the economic environment in which the company carries out its activity
Contenuti Introduction to business strategy: definitions compared; • Analysis of industrial sectors; • Identification of the strategic structure of the company; • Evaluation of the business formula; • Strategic management; • Analysis of the structure of the private and public sector; • The value network; • Competitive dynamics; • Strategic innovation. II part of the course (5 CFU): • Corporate Social Responsibility; • Business ethics; • Policies and tools on the strategic management of human resources; • Instruments for measuring and exploiting intangible resources; • Performance measurement tools: Human Resource Scorecard.
Testi di riferimento - G. Invernizzi (a cura di), Le strategie competitive, McGraw-Hill, 2014 - P. Maggiolini (a cura di) (2012), Ciò che è bene per la società e bene per l'impresa, Franco Angeli, Milano - capp. 1,2,3,5,6,7 e un capitolo a scelta della parte terza del libro - M.C. Bombelli (2010), Management plurale, Etas, Milano
Obiettivi formativi The course aims to develop in students a critical understanding of the objectives, of the principles and methods of Business and Strategic Management, Business Ethics and People Strategy in the different profit, not for profit and public business contexts. At the end of the course the students will acquire an understanding of the topics and the critical issues referring to corporate strategy, social responsibility, business ethics and strategic management of human resources, in their theoretical and practical aspects and with reference to the national and international dimension.
Prerequisiti Students who access the course must know the theoretical framework, the terminology basic and the main tools related to general management theories.
Metodi didattici The teaching activity includes lectures, seminars, exercises and case analysis. Lessons give a picture of the main themes of business strategy, social responsibility and business ethics. The seminars will offer an in-depth analysis of specific aspects and will allow to develop a critical understanding. The exercises and the analysis of the cases will be used to discuss the practical implications of the topics covered.
Altre informazioni Project Work, Assignement in small groups and educational workshops with oral presentation in the classroom (optional).
Modalità di verifica dell'apprendimento The exam is written and individual for students attending and not. The exam is written with questions on business and strategic management issues (I part), business ethics, corporate social responsibility and people strategy (part II). A first intermediate exam is scheduled after 30 hours of class, referred to the part of Business and Strategic Management. At the end of the course there will be the second related trial to the part of Business Ethics and People Strategy. The vote of each trial will have a weight proportional to the number of credits. The answers will be evaluated specifically and the exam will be considered passed if there is enough in both parts of the course.
Programma esteso The first part of the course (5 CFU) is divided into two blocks: First block: - The boundaries of the sector analysis: definition, the fundamental factors of competition, barriers to entry, internal competition, substitute products, the bargaining power of buyers and suppliers; - Basic competitive strategies: global cost leadership (levers and advantages), differentiation (levers and advantages), segmentation (levers and advantages), differences between strategies, half-completed strategies, the risks of basic strategies; - Analysis of the internal structure of the sector: the components of the analysis of competition, the objectives of the strategic units, the group objectives, portfolio analysis of the competitors, analysis of the strengths and weaknesses of a competitor, the field of alternatives strategies, groupings, rivalry between companies; - The evolution of the sector: the life cycle of the product, the processes of change, i changes in the sector; the strategy in the emerging sectors, characteristics of the sectors emerging, the constraints to the development of the sector, the strategic alternatives, the moment entry; the transition of the sector to the stage of maturity, characteristics of the sectors mature, transition traps, the organizational implications of maturity; - Strategic innovation management: Inventions and innovations, the process innovation, profitability of innovation, the appropriateness of innovation rents, strategies for economic exploitation; - Company growth: growth strategies: intensive, integrative, for diversification; advantages and disadvantages of vertical integration; concentric and pure diversification; forms of growth: dimensional, relational, qualitative. Second block: - The strategic management that characterizes the management in the public and non-profit sector. We analyze the different approaches, the logics and the tools within a vision functional of the public interest aimed at reducing the overlap between strategies and public policies. The second part of the course (5 CFU) focuses on policies, tools and critical issues related to business ethics, corporate social responsibility and new forms of social reporting. It is also proposed to present the strategic role of human resources, within the broader business strategy. We refer to the role of human resources, both as part of the business strategy, both in the context of the sustainability strategy and of Corporate Social Responsibility. Tools for measuring and exploiting intangible resources. Performance measurement tools: Human Resource Scorecard
Course borrowed from MANAGEMENT E FINANZA (1407) - EC0157 STRATEGIE, POLITICHE D'IMPRESA E PEOPLE STRATEGY - NOVARA
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Course BUSINESS INFORMATION MANAGEMENT
Course ID EC0129
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader CANDIOTTO Roberto
Teachers Candiotto Roberto, Gandini Silvia
CFU 4
Teaching duration (hours) 30
Individual study time 70
SSD NN -
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category F
Year 1
Period Primo Semestre
Site NOVARA
Grading type G
Lingua insegnamento Italian
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Course SERVITIZATION STRATEGY
Course ID EC0131
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader SONGINI LUCREZIA
Teachers Songini Lucrezia
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/07 - ECONOMIA AZIENDALE
Course type Attività formativa monodisciplinare
Course mandatoriety OPZ
Course category C
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi After having attended the course, students will be able to: 1) give a diagnosis of the points of strenght and weaknesses of servitized business 2) identify different kinds of servitized businesses and PSSs and their specific managerial needs 3) understand, design and use autonomously and critically mechanisms, tools and methods presented during the course 4) apply critically and differently principles, tools, methods and mechanisms to different types of servitized firms
Contenuti In times of economic crisis, the manufacturer value chain is becoming less attractive as the demand for products is increasingly stagnating. Under such circumstances, companies are progressively becoming aware of the value associated with service offerings. Services provide a more constant income and higher profit margins; however, they also need less capital investments than goods. To survive, many manufacturing firms have to move beyond manufacturing and offer services and solutions, often delivered through their products, or at least in association with them. This strategy is called “servitization”; it encompasses new business models based on the product-service system (PSS). Actually, the transition toward servitization is a complex and challenging process, requiring clear strategic thinking, devoted resources, planning tools and support mechanisms. If these aspects are not properly managed, the risks of failure are very high, as is well documented by empirical evidence. The course aimed at presenting and discussing the characteristics of the servitization strategies, related issues and advantages and main impacts on the business model of manufacturing firms.
Testi di riferimento For attending and non-attending students, the adopted books are as follows: Pistoni A., Songini L., Servitization strategy and managerial control, Emerald Publishing, 2018 Gaiardelli P., Songini L., Modelli di business, servizi e performance nel settore del veicolo pesante, Egea, 2018 For attending and non-attending students, other reference material (slides, case studies) produced by the lecturer will be made available in the web page of the course at the URL https://eco.dir.unipmn.it/
Obiettivi formativi The course aimed at presenting and discussing the characteristics of the servitization strategies, related issues and advantages and main impacts on the business model of manufacturing firms. In particular, it aims at developing the students' ability to identify and analyze the advantages and issues of the servitization strategy, to identify main impacts on the manufacturing companies' business model and to propose appropriate solutions. More in details, it aims to: a) enlarge students' competences and knowledge proposing new approaches specific for servitized business; b) critically discuss and apply models for analysing typical managerial issues of servitized business; c) develop critical competences on desinging and implementing managerial systems for servitized firms
Prerequisiti None
Metodi didattici Different teaching tools will be used: a) traditional lessons in class where the lecturers will present problems, solutions and tools for servitized firms; b) case studies, where the theories and methodologies are presented and discussed in real business situations; c) guest speakers having an experience relevant in the field, such as managers or professionals with experience in servitized business d) Teamwork aimed at testing and developing principles, methods and tools presented during lessons in the analysis of real case studies The course is highly interactive, as it involves carrying out simulations, hosting guest speakers, real case studies discussions, group assignments. Class attendance is recommended but is not mandatory.
Altre informazioni None
Modalità di verifica dell'apprendimento Final written exam both for attending and non-attending students. The written exam consists of both open questions, aimed at testing acquired knowledge, and the analysis and critical discussion of a case study, aimed at verifying students' competences and capabilities of understanding a specific context, proposing consistent solutions, applying the acquired knowledge and methods. The team work project’s score will be added to the final written exam’s score. This score will evaluate students' competences and capabilties of understandinfìg a real context, critically applying models and methods, and effectively communicate project work's results.
Programma esteso 1) Servitization of manufacturing 1.1 Characteristics and evolution 1.2 Determinants and impacts 1.3 Data from different industries 2) Servitization strategy 2.1 Definition and types of servitization strategies 2.2 Prerequisites for implementing a servitization strategy 2.3 Definition and types of Product-Service-System 3) The impacts of servitization strategy 3.1 Organizational and managerial impacts 3.2 The role of customers 3.3 The role of supply chain's actors: suppliers, dealers, workshops, etc. 3.4 Servitization and value creation 4) Servitization and corporate performance 4.1 Servitization paradox 4.2 Financial performance of servitized firms and performance determinants 4.3 The role of strategic planning and cost management systems 4.4 Performance measurement and evaluation in servitized firms
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Course ECONOMIA DELL'INNOVAZIONE
Course ID EC0132
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader D'Alessandro Michele
Teachers D'alessandro Michele
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/06 - ECONOMIA APPLICATA
Course type Attività formativa monodisciplinare
Course mandatoriety OPZ
Course category C
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian and English.
Contenuti The second module of the Labor Economics and Innovation course deals with the economics of innovation. The course addresses the significance, importance, and limits of innovation starting with a historical overview of the impact of innovation on economic growth in the long run and a study of the economics of growth. The dynamics of innovation processes are subsequently analyzed with a focus on: the actors – firms, research centers, government, education, the financial system, etc; the activities they carry on and the interactions thereof; national and sectoral systems of innovation; the mechanisms of diffusion of innovation; the dynamics of international competitiveness.
Testi di riferimento – Fagerberg, J., D.C. Mowery e R.R. Nelson (a cura di) (2007), Innovazione, Roma, Carocci, capp. 1-3; 5-8. – Malerba, F. (a cura di) (2000), Economia dell’innovazione, Roma, Carocci, capp. 1, 3, 13. – Florio, A. (2003), Il finanziamento alle imprese innovative: Quale ruolo per il sistema bancario?, p. 1 – 9. – Rosenberg, N. (1998). ‘Uncertainty and Technological Change’. Neef D., Siesfeld G. A., & Cefola J. (eds) The Economic Impact of Knowledge, pp. 17–34. Butterworth Heinemann: Boston. – Mowery, D. C. (2010). ‘Military R&D and innovation’. Hall B. H. & Rosenberg N. (eds) Handbook of the Economics of Innovation, Vol. 2, pp. 1219–1256. Elsevier. – Soete, L., Verspagen, B., & ter Weel, B. (2010). ‘Systems of innovation’. Hall B. H. & Rosenberg N. (eds) Handbook of the Economics of Innovation, Vol. 2, pp. 1159–1180. Elsevier. – Langlois, R. N., & Steinmueller, W. E. (1999). ‘The evolution of competitive advantage in the worldwide semiconductor industry, 1947-1996’. Mowery D. C. & Nelson R. R. (eds) The Sources of Industrial Leadership, pp. 19–78.
Obiettivi formativi The module on the economics of innovation aims to illustrate the concepts of growth and innovation in an economic system. The students will familiarize themselves with the sources of economic growth in the long run and the role played by technological change and innovation. They will learn how the innovation process works, the actors involved and their dynamic interaction, and the factors affecting innovation at the national and sectoral levels. Through the discussion of theoretical models and the analysis of historical case studies, the students will acquire knowledge of how innovation happens, and why it matters for social welfare.
Prerequisiti Micro and macroeconomics.
Metodi didattici To reach the objectives of the course of Economics of Innovation, the following teaching methods will be adopted: • Lectures, where the main arguments the students should apprehend will be illustrated; • Testimonials, so that students can meet and interact with innovators and/or experts in the field of innovation, so that students understand how the knowledge acquired during the course is met in practice; • Group presentations of students (potentially in English) to verify their capacity of analysis, synthesis, critical judgement and communication.
Altre informazioni Attendance is not compulsory, but recommended. Attending students will have a separate exam in the summer session.
Modalità di verifica dell'apprendimento The grade in Labour Economics and Economics of Innovation (12 CFU) is the arithmetic mean of the two separate exams. The exam for Economics of Innovation is in written form. Students who have attended less than 75% of classes (to be verified through an attendance list) will have to answer 3 open questions in 45 minutes (max 10 points per question). Students who have attended at least 75% of classes (to be verified through an attendance list) and take the exam during the summer session will have to answer two open questions and carry out a group work assignment and perform an in-class presentation. In this case the final grade is determined in the following way: • max 10 points for the presentation; • max 10 points for each of the 2 questions; • max 2 points for active class participation.
Programma esteso 0. Why innovation? A historical perspective 1. What is innovation? Definitions and key concepts. 2. Technological change and growth theory 3. National systems of innovation 4. The innovative firm 5. Financing innovation 6. Sectoral systems of innovation 7. Innovation and public policy: intellectual property rights and science and technology policies 8. The diffusion of innovation 9. Innovation and competitiveness
Course borrowed from AMMINISTRAZIONE, CONTROLLO E PROFESSIONE (1406) - EC0028 Economia dell'innovazione - NOVARA
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Course INSURANCE
Course ID EC0133
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader VALLETTA Mario
Teachers Valletta Mario, Zocchi Paola
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/11 - ECONOMIA DEGLI INTERMEDIARI FINANZIARI
Course type Attività formativa monodisciplinare
Course mandatoriety OPZ
Course category C
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi By giving a written exam, students must show: KNOWLEDGE - to know the fundamental features of the insurance “mechanism”; - to know the characteristics of the main types of both insurance and occupational pension contracts; - to know the fundamental profiles of the regulation of insurance contracts and insurance undertakings; - to know the logic underlying the definition of premiums and the quantification of technical reserves; - to know the features of insurance undertakings’ economic equilibrium model; COMPETENCES - to be able to interpret the technical and economic features of both insurance and occupational pension contracts from the contractor’s point of view; - to be able to interpret the technical and economic features of both insurance and occupational pension contracts from the insurer’s point of view; - to be able to analyze and evaluate the main economic margins of insurance companies (life and nonlife); - to be able to interpret the managerial implications of Solvency II regulatory environment; TRANSVERSAL SKILLS - to be able to interconnect among each other’s topics faced in different chapters of the course; - to be able to present a set of clear and structured arguments dealing with insurance theory and the management of life and nonlife insurance undertakings; - to be acquainted with the technical terminology used in the insurance sector at both the domestic and the international level; - to be able to read, comprehend and comment technical material from books, financial journals or other sources.
Contenuti N.B. Topics, teaching goals, teaching materials and the Course evaluation described below only apply to students whose undergraduate curriculum did not include any Course dealing with Insurance. In all other cases, students should complete an ad hoc syllabus agreed upon with the instructors. The Course deals with the role, the functions and the activities performed by insurance companies in the financial system and provides an in-depth insight about the functioning of the “insurance device” and the economic and technical characteristics of insurance contracts and private retirement plans. Furthermore, it aims at developing the knowledge of the different aspects of the management of insurance companies, from the underwriting process to asset-and-liability management, paying due attention to the EU and national regulatory framework. Both the nature and the dynamic of the need for private retirement plans are finally analysed.
Testi di riferimento - Santoboni F. (a cura di), Manuale di gestione assicurativa, Wolters Kluver CEDAM, 2017. Not to do: chapters 6 and 7. The textbook is available at the Library of the Department. - The instructors will provide articles, working papers and reports in order to deepen specific course topics by the course official web page at the following link: https://eco.dir.unipmn.it . The login to the web page requires a password; please contact the instructors to get it ( mario.valletta@uniupo.it or paola.zocchi@uniupo.it ).
Obiettivi formativi 1.Knowledge and understanding: the students will acquire the knowledges needed to understand: the features of the various types of “pure” risks as well as of the different techniques aimed at managing them; the features of the “insurance device”, including the conditions for the insurability of pure risks, the importance of mutuality, the logic underlying the pricing of insurance coverage, the nature and functions of technical reserves; the characteristics of insurance products and private retirement plans; the equilibrium conditions in the management of insurance companies and pension funds. 2. Applying knowledge and understanding: the ability to evaluate insurance and pension products by applying theoretical knowledges, and to evaluate the conditions of managerial equilibrium of insurance companies. 3. Making judgements: the ability of choosing the instruments best suited to satisfy insurance and pension needs and to evaluate their risks. 4. Communication skills: the students will acquire the ability to use the technical language used by professionals in the field at issue. The knowledge of the most important information sources will make them able to better support their arguments.
Prerequisiti None.
Metodi didattici 1. Knowledge and understanding: traditional face-to-face lessons and self-study based on teaching materials. During the Course some qualified guest speakers will be invited to share with the class their professional experience. 2. Applying knowledge and understanding: exercises carried-out by the teacher during the course and exercises based on previous written exams carried-out by the students (homework based on materials published on the course’s webpage). 3. Making judgments: students will be stimulated to make a judgemets on relevant cases, also through assignments and presentations. 4. Communication skills: the meaning of the terms used by professionals in the field of insurance will be adequately explained. 5. Learning skills: every topic will be discussed beginning from the illustration of the problem and then analyzing the various possible solutions.
Altre informazioni Further information can be found in the Course official web page at the following link: https://eco.dir.unipmn.it
Modalità di verifica dell'apprendimento One compulsory written exam consisting of six questions (closed books and closed notes), covering the whole course syllabus and including exercises, with a 60-minute duration. During the period of teaching, all students may sit for a mid-term written exam covering the first part of the course contents. 1. knowledge and understanding: by written open questions. 2. applying knowledge and understanding: through exercise. 3. making judgements: by written open questions. 4. communication skills: by written open questions. 5. learning skills: by a mid-term exam during the course
Programma esteso - Introduction on the course: objectives, program, assessment. - Risk and uncertainty. Pure risks vs. financial risks. - Methods of managing pure risks. - The features of the “insurance device” and elements of insurable risks. - Activities and functions performed by insurance companies. - The operational and economic characteristics of insurance contracts. - Life insurance: basic pricing methods, technical reserves, traditional contracts, unit- and index-linked contracts. - Property and Liability Insurance: basic pricing methods, technical reserves, types of contracts. - The management of insurance companies: the underwriting process and the financial aspects of insurance. - Coinsurance and reinsurance. - The business model of insurance companies and their balance sheet. - Capital requirements for insurance companies: from Solvency I to Solvency II. - The distribution of insurance products. - The need for private finance retirement products. - Types of private retirement products.
Course borrowed to MANAGEMENT E FINANZA (1407) - EC0133 INSURANCE - NOVARA
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Course FONDAMENTI DI BUSINESS ANALYTICS
Course ID EC0135
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader FUSAI Gianluca
Teachers Fusai Gianluca
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-S/06 - METODI MATEMATICI DELL'ECONOMIA E DELLE SCIENZE ATTUARIALI E FINANZIARIE
Course type Attività formativa monodisciplinare
Course mandatoriety OPZ
Course category C
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi On successful completion of this module, you will be expected to be able to:Knowledge and understandingDemonstrate systematic and comprehensive knowledge of the different sources and types of financial risk in a corporateDemonstrate sound appreciation of how different decisions can affect the results of the firmSkillsIdentify accurately complex risk factors and use appropriate tools in quantifying their impactSynthesise wide-ranging and complex information required to execute accurate and realistic decisions at corporate levelDemonstrate mastery of quantitative skills required for modern risk managementExecute complex assessments and communicate outcomes effectively to all management levels of corporate organisationsDemonstrate a general risk versus reward business perspective.Values and attitudesAppreciate the importance of real options thinking for a wide range of stakeholders at trader, corporation and institution level
Contenuti Aims of the course are to give to corporate decision-makers the ability 1. to assess the profitability of their decisions 2. which avenue of expansion or investment to go down and, crucially, when to take that leap 3. how to implement the theory to maximize investment opportunities by utilizing uncertainty as an asset and reducing downside risk. The course is a journey through real options, from the basics to more advanced topics such as options and game theory. The course is also strongly suggested to students with a major in Management & Finance
Testi di riferimento Guthrie, Graeme. 2009. Real Options in Theory and Practice, New York: Oxford University Press.
Obiettivi formativi By the end of this course, students should be able to: • demonstrate an understanding of the real options approach to decision making • estimate the values of the parameters needed to implement this approach • identify the most important options embedded in a decision problem and represent them using a decision tree, via softward like Matlab and Excel • use dynamic programming and modern theories of asset valuation to derive an optimal decision rule • interpret observed firm behaviour in terms of the real options embedded in decision problems • communicate the results of real options analysis at a level that senior decision makers can understand• publish the results of the analysis with the support of web sites
Prerequisiti None
Metodi didattici Lectures including both theory and exercises. Excel and Matlab will be used
Altre informazioni Additional information will be made available during the course on the course web page (www.dir.uniupo.it). Attendance of the course lessons is strongly recommended.
Modalità di verifica dell'apprendimento Individual or Group Coursework with discussion, to test the comprehension of the more advanced topics, and the skill of applying the acquired knowledges in order to analyse more complex and structured problems.
Programma esteso Material will be drawn from the following list: • The modelling framework • Valuing single-period cash flows • Valuing multi-period cash flows • Monte Carlo simulation and scenario analysis • Combining valuation and decision making; options that do not affect the state of a project • Simple timing options • Compound timing options; uber-compound timing options; switching options • Learning options • Calibration using spot and futures price data • Calibrating trees of alternative state variables • Case studies: forestry management and valuation; developing a gas field; commercial real estate development • Excel e Matlab will largely used in the course. Lectures on how to use them will be also given.
Course borrowed to AMMINISTRAZIONE, CONTROLLO E PROFESSIONE (1406) - EC0069 Fondamenti di Business Analytics - NOVARA
MANAGEMENT E FINANZA (1407) - EC0135 FONDAMENTI DI BUSINESS ANALYTICS - NOVARA
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Course PRICE MANAGEMENT
Course ID EC0123
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Marketing and Operations Management
Teaching leader ABRATE Graziano
Teachers Abrate Graziano
CFU 8
Teaching duration (hours) 60
Individual study time 140
SSD SECS-P/08 - ECONOMIA E GESTIONE DELLE IMPRESE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi - Understanding the role of pricing strategies within business management. - Understanding the economic, psychological and operational principles behind pricing decision. - Ability to evaluate and formulate pricing decisions in specific context.
Contenuti Price is one of the most significant marketing mix components and has a significant impact on business profitability in the short and long term. The economic principles behind the adoption of a suitable pricing strategy are analyzed, in relation with the type of product (or service) and the degree of market competition. A particular emphasis is given to the most innovative pricing strategies, price management on the web, dynamic pricing strategies, and revenue management.
Testi di riferimento Slides, additional materials and readings are provided by the lecturer through the website, at the URL. https://www.dir.uniupo.it In addition, the following textbooks represent a valid support. 1) H. Simon, D. Zatta, M. Fassnacht (2013). Price management: Strategia, analisi e determinazione del prezzo. Franco Angeli Editore. 2) K. Talluri & G. Van Rizin (2004). The Theory and Practice of Revenue Management. Springer. Chapter 1. 3) J. Raju, Z.J. Zhang (2010). Smart Pricing: How Google, Priceline, and Leading Businesses Use Pricing Innovation for Profitability. Pearson Prenctice Hall.
Obiettivi formativi Understanding and formulating pricing strategies, coherently with the value delivered to consumers.
Prerequisiti None
Metodi didattici Lectures, exercises and group discussions.
Modalità di verifica dell'apprendimento The exam is written. For students who attend classes, the 25% of the final course grade (8 points) is based on individual and group works that will be proposed during the lectures. For students who do not attend classes, an additional question, based on specific readings, will be included in the written exams. The remaining 75% of the exam, for all students, consists of a theoretical part and an applied part. The theoretical part (maximum score 10 points) aims at verifying knowledge and understanding of the program. It is composed of both open-ended and closed-ended questions. The applied part (maximum score 14 points) tests the ability to apply knowledge and making judgments, through a problem set composed of several questions. The score of the written exam can be integrated with an optional oral examination, according to which the mark can be increased or reduced by a maximum of 3 points. The oral exam is only allowed on the scheduled date. The admission to oral exam is allowed only to students who have obtained in the written exam a mark equal to or greater than 18/30.
Programma esteso -The strategic role of price and its impact on profitability - The basic elements of pricing decisions: costs, market demand and competition. From the cost-based approach to the value-based approach: benefits and complexity. - Economic analysis: willingness to pay and demand elasticity. Competition, market power and strategic reactions. - Psychological aspects of consumer behavior. The contribution of prospect theory. - Price optimization for individual products and multiple products. - Market segmentation and price differentiation. Analysis of specific pricing strategies: nonlinear prices, price bundling, versioning. - Managing price variations over time: strategic and tactical decisions. - Skimming and penetration strategies. - Peak load pricing: static and dynamic approach. - Short-term price management. Revenue management and dynamic pricing strategies. Applications to specific industries. - Internet pricing management. The role of online platforms. The relationship between pricing strategies and online reputation (E-WOM). - Pricing and the sharing economy. - Empirical models for estimating the willingness to pay. The "hedonic" pricing model. The role of reputational quality.
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Course VALUTAZIONI D'AZIENDA E IFRS 3
Course ID EC0143
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader COMOLI Maurizio
Teachers Comoli Maurizio, Bavagnoli Francesco, Campra Maura
CFU 10
SSD SECS-P/07 - ECONOMIA AZIENDALE
Course type Attività formativa integrata
Course mandatoriety OBB
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Modules
Course ID Course SSD Teachers Agenda web
EC0144VALUTAZIONI D'AZIENDA SECS-P/07 - ECONOMIA AZIENDALE Comoli Maurizio, Bavagnoli Francesco
EC0145IFRS 3 SECS-P/07 - ECONOMIA AZIENDALE Campra Maura
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Course VALUTAZIONI D'AZIENDA E IFRS 3: VALUTAZIONI D'AZIENDA
Course ID EC0144
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader COMOLI Maurizio
Teachers Comoli Maurizio, Bavagnoli Francesco
CFU 8
Teaching duration (hours) 60
Individual study time 140
SSD SECS-P/07 - ECONOMIA AZIENDALE
Course type Modulo di sola Frequenza
Course mandatoriety OBB
Course category B
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Contenuti The course is divided in two parts. Part 1 – Introduction to Business Valuation and generally accepted valuation methods (Prof. Comoli) – 4 CFU Business valuation: overview The principles of value measurement: the difference between price and value The most appropriate valuation methods according to the academy and used in practice The valuation process Methods based on the analytical valuation of assets and liabilities Net asset value Net asset value adjusted for intangibles The Intangibles: introductory concepts and definitions Methods based on income or cash flow streams The income-based approach The estimate of discount rates The discounted cash flow method (DCF): underlying assumptions and implementation Forecasting cash flows, terminal value and the impact of financial structure Mixed valuation criteria U.E.C. method Part 2 – Market Multiples and valuation in special contexts (Prof. Bavagnoli) – 4 CFU Rules of thumb and market data Market multiples and comparable transactions A deeper examination of multiples From firm’s equity value to the value of an investment Control premium and minority discount Brand valuation Business valuation reporting – structure and content.
Testi di riferimento L. Guatri – M. Bini, Nuovo trattato sulla valutazione delle aziende, EGEA, Milano, 2009 Further material (slides, case studies, articles) and information can be found in the web page of the course at the URL: https://eco.dir.unipmn.it/
Obiettivi formativi 1. Knowledge and understanding: The students will know and understand the methods, tools and main problems related to business valuation in the context of their specific purposes: merger and acquisitions, asset deals or stock deals, valuation of a control or a minority stock, measurement of company’s performance, valuations for financial reporting, brand valuation. Frontal teaching activity and team working will allow the students to realize which are the most appropriate valuation methods. Moreover the students will be able to understand the relationships between strategy, valuation and value creation or destruction. 2. Applying knowledge and understanding: The students will acquire the capacity to apply the acquired knowledge and the principles of business valuation. Discussion of case studies will allow students to professionally deal with valuation assignments, performing a proper fundamental analysis and eventually finalizing the valuation. 3. Making judgements: The students will develop independent judgement capacity, critical thinking and ability to relate theoretical topics to applications. In comparing theoretical tools and practical applications, the students will acquire capacity of reflection and interpretation of information needed to manage the valuation process. Building on these knowledge and understanding they will be able to deliver professional valuations in real situations, building their own judgement on strong economic, financial and ethical foundations. 4. Communication skills: The students will acquire mastership of expression and proper technical language for business valuations. The development of these communication skills will make the students capable of articulating in a proper format professional valuations. 5. Learning skills: The students will acquire a high level of learning ability that will make them autonomous in developing their own technical and practical knowledge. Specifically the students will be able to face the upcoming challenges in their professional careers and in the rest of their academic life, also being able to individually analyse in depth specific topics related to business valuation.
Prerequisiti None
Metodi didattici Lectures, exercises, case studies.
Altre informazioni Class attendance is voluntary (not mandatory).
Modalità di verifica dell'apprendimento The outcome of the learning process is checked through written exams, whereby the students will be required to articulate relevant topics discussed in the course, providing evidence of the acquired knowledge by means of answers to open questions of theoretical and/or applied nature. The students can pass the exam through two different procedures: - two written partial tests which are held, the first at the end of the first half of the course, and the second at the end of it (the second test can be taken only by students who have passed the first one with the score at least of 18/30). Students who positively pass both written tests automatically get the final grade (determined as an arithmetic average of the scores of the two tests). - general all-inclusive test (covering all of the course’s contents). If the students don’t pass one of the two partial tests or if they choose the general test, they will take a written exam covering all of the course’s contents.
Course borrowed from AMMINISTRAZIONE, CONTROLLO E PROFESSIONE (1406) - E0146 VALUTAZIONI D'AZIENDA - NOVARA
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Course VALUTAZIONI D'AZIENDA E IFRS 3: IFRS 3
Course ID EC0145
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader CAMPRA Maura
Teachers Campra Maura
CFU 2
Teaching duration (hours) 15
Individual study time 30
SSD SECS-P/07 - ECONOMIA AZIENDALE
Course type Modulo di sola Frequenza
Course mandatoriety OBB
Course category C
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Teaching language: Italian
Risultati di apprendimento attesi Knowledge of the international accounting standard IFRS3 and its application.
Contenuti Course content: The International Financial Reporting Standard IFRS 3. Accounting for business combinations according to IFRS 3, with a specific focus on mergers. Scope of the IFRS 3, the acquisition method: identifying the acquirer and the consideration paid, the net asset value of the acquired assets and liabilities of the acquiree, the difference between the two amounts and its accounting treatment.
Testi di riferimento Reference material: Principio contabile internazionale IFRS 3. A.A.V.V. – IAS/IFRS – Ipsoa Editore – Gruppo Wolters Kluwer Italia, Milano, last edition, cap. XXX – IFRS3. Other material provided by the lecturer.
Obiettivi formativi Educational aims: The course aims at providing knowledge and understanding of business combinations in the perspective of international accounting standards IAS/IFRS.
Prerequisiti Prerequisites: None
Metodi didattici Teaching methods: The course includes 15 hours of lessons in class (2ECTS). To facilitate the learning process, the sessions in class (essential to successfully pass the exam) will be distributed among theoretical lessons and practical interactive exercises, which aim at providing the understanding of the concepts stated in the standards. Outside of the class, the students are required to individually study the subjects discussed and to practice with exercises that will be indicated by the lecturer, in order to evaluate the effective learning of the students. The course includes frontal lessons, interactive applications, and case studies.
Altre informazioni Other information: Class attendance is voluntary (not mandatory) and recommended.
Modalità di verifica dell'apprendimento Examination: Written exam. For this part of the course 1 or more case studies will be assigned, which will include exercises and open questions. The assessment of the exams is rendered with grades in a 30-point scale. Depending on the difficulty of the assignments the time available for the students to complete the tasks may vary between 20 and 45 minutes.
Programma esteso Course content: The International Financial Reporting Standard IFRS 3. Accounting for business combinations according to IFRS 3, with a specific focus on mergers. Scope of the IFRS 3, the acquisition method: identifying the acquirer and the consideration paid, the net asset value of the acquired assets and liabilities of the acquiree, the difference between the two amounts and its accounting treatment.
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Course PRICING DI DERIVATI E TEORIA DEL PORTAFOGLIO
Course ID EC0142
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader LONGO Giovanni
Teachers Longo Giovanni, Centrone Francesca
CFU 8
Teaching duration (hours) 60
Individual study time 140
SSD SECS-S/06 - METODI MATEMATICI DELL'ECONOMIA E DELLE SCIENZE ATTUARIALI E FINANZIARIE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi Module 1 - By the end of the couse students should be able to price and replicate forward contracts; to bootstrap the interest rate curve from market data, to price and use swaps both for curve construction and hedging instrument; to know how to boostrap the interest rate curve with the Nelson&Siegel model and to use it for measuring and hedging interest rate risk. To know how to construct a binomial model for stochastic evolution of underlying assets and to use it for pricing and hedging some classic derivatives. To know the Black&Scholes formula (as a limit of the binomial model) and to use it both for pricing and hedging. To know the Black formula for pricing some classic interest rate derivatives. To know how to decompose a structured contract and, with the skills got during the course, to price and hedge them.
Contenuti There are two modules 4 CFU each: Module 1 – Prof. Giovanni Longo – Forward contract, term structure of interest rates, FRA, swap, bootstrapping by Nelson&Siegel model, interest rate risk management, binomial model, Black&Scholes and Black formulas, pricing of some classic derivatives and structured products. Module 2 – Prof.ssa Francesca Centrone The main notions and problems concerning classical Portfolio Theory (Markowitz model, CAPM, APT) are presented and discussed, and the most important result derived analitically. The main features and problems in Portfolio Theory are faced. Basic notions about Risk measures theory ad Risk Parity are also introduced.
Testi di riferimento Module 1 - Teaching material downloadable on the course web site (www.dir.uniupo.it). Other useful books (available at the library): J. Hull, Options, Futures and Other Derivatives, 7th ed., Pearson Prentice-Hall International, 2014, including Exercise book. R. Jarrow e Turnbull, Derivative Securities, South Western, 1994. Module 2 1) G. Castellani, M. De Felice, F. Moriconi, Manuale di Finanza II, Teoria del portafoglio e Mercato Azionario. Il Mulino. 2005. 2) C. Huang, R. H. Litzenberger. Foundations for Financial Economics. Prentice Hall. 1988. All the textbooks can be found in the Department library. 3) Supplementary material (slides) is provided on the course page on www.dir.uniupo.it
Obiettivi formativi Module 1 - By the end of the couse students should be able to price and replicate forward contracts; to bootstrap the interest rate curve from market data, to price and use swaps both for curve construction and hedging instrument; to know how to boostrap the interest rate curve with the Nelson&Siegel model and to use it for measuring and hedging interest rate risk. To know how to construct a binomial model for stochastic evolution of underlying assets and to use it for pricing and hedging some classic derivatives. To know the Black&Scholes formula (as a limit of the binomial model) and to use it both for pricing and hedging. To know the Black formula for pricing some classic interest rate derivatives. To know how to decompose a structured contract and, with the skills got during the course, to price and hedge them. Modulo 2 - By the end of the module, the student should have acquired a suitable knowledge of the quantitative tools to understand the main themes in Portfolio Theory in a critical way. The student should also have developped the right sensibility and comprehension skills to solve problems in this context.
Prerequisiti Contents of the courses of Metodi Matematici I, II and Statistics. To know how to use Excel.
Metodi didattici Lectures including both theory and exercises. Parts of the lectures will be run in the computer laboratory.
Altre informazioni Attendance of the lecture class is not compulsory but is strongly recommended.
Modalità di verifica dell'apprendimento Module 1 - Written exam in italian. The exam will require the solution of advanced problems on a pc. The structure of the exam aims to test the comprehension of the more advanced topics presented in the course, the skill of applying the acquired knowledges in order to analyse some complex and structured problems. Modulo 2 - A compulsory written exam and a facultative oral exam, both in italian. The written exam is composed by 4 exercises intended to check the ability to solve short problems concerning Decision Theory under uncertainty and Portfolio Theory, and a long exercises intended to test the knowledge and the critical understanding of the models presented, The oral exam is intended to check a deeper critical comprehension of the presented topics and can be substained only if one obtains a grade equal or greater than 18/30 in the written exam. To obtain the laude it is compulsory to substain the oral exam. Note: It is compulsory to enroll in the exams via the infobox platform. Exceptions will not be accepted. Exams of the two modules are independent. They can be taken in different sessions and without having to respect any order. The exam of the single module is considered passed if the vote is not less than 15/30. If accepted on the infobox platform, it will remain valid for 2 years, otherwise it is lost. The whole exam is passed when both modules are passed and the average result of not less than 18/30 (also the result of the last module has to be accepted on the infobox). The record of the whole exam is done by “appelli verbalizzanti” fixed at the end of each session. Also for them it is necessary to enroll through infobox, indicating in the notes the date of the passed modules (with acceptance of the votes).
Programma esteso Module 1 – Forward contracts. Characteristics of the contract, long and short positions, replicating portfolio, with dividend, and/or costs. Value of a forward contract. Interest rate construction from market data, FRA and Swaps. Linear interpolation and bootstrapping through Nelson&Siegel. Use of the model for sensitivity analysis and hedging of interest rate instruments. Financial options. Features of a standard contracts: call and put options, American and European. Variables that affect the price of the options. Restrictions on option prices. Modeling of the evolution of the underlying with binomial trees. Risk neutral probability. Pricing of an option with the binomial model. Delta of an option. Replicating portfolio (dynamic). The case of American options. The Black & Scholes model. Dynamic hedging. Limits of the Black-Scholes model. Some outlines to the Black model for rates, caps and floors. Module 2 - Portfolio Theory Random variables and optimization: refresh. Basic notions of Decision Theory under Uncertainty. The problem of the construction of a portfolio of risky assets. The Markowitx mean-varianze problem, the efficient frontier sithout and with a riskless asset. Problems connected with the estimation of the paramenters. Sharpe index and risk premium. CAPM and APT. Introduction to risk measures and risk parity. Black and Littermann model. Case studies.
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Course STATISTICA PER LA FINANZA
Course ID EC0147
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader GOIA Aldo
Teachers Goia Aldo
CFU 8
Teaching duration (hours) 60
Individual study time 140
SSD SECS-S/01 - STATISTICA
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Contenuti The course introduces to the analysis of financial data and simulation techniques in the financial framework by using some hoc softwares.
Testi di riferimento Lecture notes. References: - R. Carmona (2014). Statistical Analysis of Financial Data in R. Springer. - S.T.Rachev, M. Hochestotter, F.J.Fabozzi, S.M. Focardi (2010) Probability and Statistics for Finance. Wiley.
Obiettivi formativi The aim of the course is the knowledge and the mastery of inferential methods and main forecasting techniques. Moreover, the course aims to provide the ability to apply these techniques autonomously in a financial context and to present the results effectively.
Prerequisiti Linear algebra, calculus, elements of probability and statistics.
Metodi didattici Lectures, exercises, computer lab lessons.
Modalità di verifica dell'apprendimento The evaluation is based on a compulsory written and oral exam including: - theoretical questions whose scope is to verify the knowledge level, - exercises to verify the abilities in applying the introduced numerical tools, - structured problems to test abilities in providing coherent comments on the results and communicating them with a proper statistical language.
Programma esteso 1. Elements of probability. Random variables and distributions. Generating functions. Random Vectors. 2. Statistical Inference. Empirical estimates and maximum likelihood method. Confidence interval. 3. Testing hypothesis. Errors of I and II type. Critical region. Power of a test. P-value. Parametric tests. Goodness-of-fit tests. 4. Multiple linear regression. OLS principle. Test on coefficients and test F. 5. Credit Risk models and forecasting. Logistic regression. 6 Intoduction to stochastic processes. Weak stationarity. AR and MA models. Brownian motion. Simulation of a random process.
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Course INVESTMENT BANKING
Course ID EC0146
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader CAPIZZI Vincenzo
Teachers Capizzi Vincenzo
CFU 8
Teaching duration (hours) 60
Individual study time 140
SSD SECS-P/11 - ECONOMIA DEGLI INTERMEDIARI FINANZIARI
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento English
Risultati di apprendimento attesi By giving a written exam, students must show: KNOWLEDGE - To be aware of the role and operations of investment banks and financial advisors. - To know the accounting, appraisal, legal and tax issues underlying an investment banking deal COMPETENCES - To be able to evaluate the feasibility of an investment banking deal - To be able to design the structure of an investment banking deal - To be able to identify the investment bank or the advisor to get access to originate and implement an investment banking deal TRANSVERSAL SKILLS - To be able to interconnect among each other’s topics faced in different chapters of the course - To be able to present a set of clear and structured arguments dealing with the design and structure of a giving investment bank deal - To know the technical terminology used by professionals, advisors and investment bankers at both the domestic and the international level - To be able to read, comprehend and comment technical material from books, financial journals or other source
Contenuti The course is focused on the investment banking industry as a portfolio of services offered to corporate and institutional clients. The course deals with investment banking transactions and analyses the business models, production processes and economics of banks and other financial institutions when operating in the capital markets and offering to corporate clients non lending financial services. More in details, the course will provide tools, models and concrete examples required in order to design and implement the major typologies of corporate and investment banking transactions as well as to understand the nature of the advisory activity performed by banks and financial institutions
Testi di riferimento Required textbook: Liaw K.T., The Business of Investment Banking: A Comprehensive overview. Third Edition, J. Wiley & Sons, New York, 2011 The instructors will provide articles, slides, case studies and working papers in order to deepen specific course topics For further information, please make reference to the course official web page at the following link: https://eco.uniupo.it/ Suggested readings: Capizzi V., (a cura di), L’investment banking in Italia, Bancaria, Roma, 2007. Capizzi V., (a cura di), Crisi d’impresa e ristrutturazione del debito, Egea, Milano, 2014 Fleuriet M., Investment Banking Explained: An Insider’s Guide to the Industry, McGraw-Hill, New York, 2008 Forestieri G., (a cura di), Corporate e investment banking, Terza Edizione, Egea, Milano, 2015 Iannotta G., Investment Banking: A Guide to Underwriting and Advisory Services, Springer-Verlag, Berlin, 2010 Rosenbaum J., Pearl J., Investment Banking: Valuation, Leveraged Buy-Outs and Mergers and Acquisitions. Second Edition, J. Wiley & Sons, New York, 2013 Stowell D., Investment Banking, Hedge Funds and Private Equity. Third Edition, Elsevier, Cambrigde, MA, 2018
Obiettivi formativi 1.Knowledge and understanding: the basic knowledge necessary to understand the role and operations of banks and financial intermediaries in the investment banking industry. More in details, the capability to understand, design and implement major corporate and investment banking deals as well as the capability to understand the advisory nature of the business of investment banking 2. Applying knowledge and understanding: the ability to apply theoretical knowledge in order to identify the real convenience and feasibility of investment banking transactions 3. Making judgements: the ability to choose the right instruments and transactions in order to satisfy non-ordinary corporate financial needs 4. Communication skills: the ability to use an appropriate technical language 5. Learning skills: the ability to identify and solve corporate financial needs through investment banking tools, models and transactions. It is crucial to develop a problem solving aptitude, consistently with the expected requirements associated to investment bankers and advisors
Prerequisiti None
Metodi didattici 1. knowledge and understanding: face-to-face lessons, analysis and discussion of case studies. Lecturers and professionals coming from all over the world, with strong reputation in the field of investment banking, will be involved in class as guest speakers 2. applying knowledge and understanding: face-to-face lessons, exercises 3. making judgements: case studies proposed during the course aimed at stimulating students’ problem solving aptitude 4. communication skills: during the course the lecturer applies and explains terms commonly used in the financial community 5. learning skills: after theoretical lectures the lecturer provides questions, case studies and assignments that are subsequently illustrated and discussed during the course
Altre informazioni Class participation is not compulsory. A specific “participant track” will allow attending students sustaining specific cases and assignments to gain some points, which will contribute to the final grade
Modalità di verifica dell'apprendimento One compulsory written exam (closed books closed notes) constituted of 10 closed question and 4 open questions with a 60 minutes duration, covering the whole course program, as faced in the required textbook. Students will have to give the exam in English 1. knowledge and understanding: by written open questions and closed (multiple choice) questions. 2. applying knowledge and understanding: through exercises and closed questions. 3. making judgements: by written open and closed questions. 4. communication skills: by written open questions. 5. learning skills: by one mid term exam during the course.
Programma esteso The investment banking industry: origins and development Corporate needs and the demand for investment banking services Identifying major business units in the corporate & investment banking industry Competences and skills required in the corporate & investment banking industry Corporate finance transactions: mergers, acquisitions, spin-offs, equity carve-outs The role of advisors in the M&A deals Defensive and offensive advisory services in the hostile takeovers The advisory role in IPOs and seasoned offerings Corporate bond issues: syndication, underwriting and placement Mezzanine finance: designing, placing and trading hybrid debt securities Securitizations and other capital markets transactions Leveraged acquisitions: LBOs, MBOs, FBOs Distressed companies and turnaround advisory services The role of advisors in work-outs and legal debt restructuring procedures The merchant banking industry: venture capital and private equity The operations of closed-end funds: fundraising, investments, monitoring and way out Structured finance and project finance deals
Course borrowed to AMMINISTRAZIONE, CONTROLLO E PROFESSIONE (1406) - EA046 CORPORATE E INVESTMENT BANKING - NOVARA
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Course BUSINESS INTELLIGENCE FOR FINANCE
Course ID EC0149
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader GAMBARO ANNA MARIA
Teachers Gambaro Anna Maria
CFU 4
Teaching duration (hours) 30
Individual study time 70
SSD NN -
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category F
Year 1
Period Primo Semestre
Site NOVARA
Grading type G
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Course DIRITTO DEI MERCATI FINANZIARI
Course ID EC0150
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader MONTEVERDE Alessandro
Teachers Monteverde Alessandro
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD IUS/04 - DIRITTO COMMERCIALE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
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Course TEORIA DELL'INFORMAZIONE ED ECONOMIA E POLITICA MONETARIA
Course ID EC0148
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Finanza
Teaching leader SONEDDA Daniela
Teachers Carabelli Anna Maria, Sonedda Daniela
CFU 14
Teaching duration (hours) 105
Individual study time 245
SSD SECS-P/01 - ECONOMIA POLITICA
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Annuale
Site NOVARA
Grading type V
Lingua insegnamento Italian
Testi di riferimento Baglioni, A., “Informazione e incertezza nella teoria finanziaria”, Hoepli, 2004. Diamond, D. W., (1984) “Financial intermediation and delegated monitoring”, Review of Economic Studies, 51, pp.393-414 Diamond, D. W. and Dybvig P. H., (1983) “Bank runs, deposit insurance and liquidity”, Journal of Political Economy, 91, pp. 401-419. Diamond, D. W., (2007) “Banks and liquidity creation: a simple exposition of the Diamond-Dybvig model”, Federal Reserve Bank of Richmond Economic Quaterly, 93 Diamond, D., W. (1996) “Financial intermediation as delegated monitoring: a simple example”, Federal Reserve Bank of Richmond Economic Quarterly, 82, pp 51-66. Frank, H. MICROECONOMIA – Università degli Studi del Piemonte Orientale, McGraw-Hill Higher Education, 2015, ISBN: 9781308066325. Katz, M. L. e Rosen H. S., Microeconomia, McGraw-Hill, 2003. Gibbons, R., Teoria dei giochi, Mulino, 2005. Lazear, E. P., (2000) “Performance pay and productivity”, American Economic Review, 90, pp. 1346-1361. Levinthal, D., (1988) “A survey of agency models of organizations”, Journal of economic behavior and organization, 9, pp. 153-185. Varian, H. R. “Microeconomic Analysis ” Norton, 1992. Nicita Scoppa "Economia dei contratti"
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Course MANAGERIAL INCENTIVES
Course ID EC0127
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader MENOZZI ANNA
Teachers Menozzi Anna
CFU 6
Teaching duration (hours) 60
Individual study time 105
SSD SECS-P/08 - ECONOMIA E GESTIONE DELLE IMPRESE
Course type Attività formativa monodisciplinare
Course mandatoriety OPZ
Course category C
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi At the end of the course, the student will be able to: 1.Define the firm as a focal point for a set of contracts. 2.Identify important owner-manager conflicts, as well as other potential stakeholder conflicts. 3.Explain how contracts can be used to help control incentive problems. 4.List the important trade-offs in effective compensation plans. 5.Identify the various forms of incentive pay and discuss the controversy surrounding incentive pay. 6.Describe the decision authority and incentives of shareholders, boards of directors, and top management of large corporations. 7.Explain how market forces contribute to corporate governance.
Contenuti In recent years, a number of corporate problems around the world have reinforced the perception that managers are unwatched. The course starts by emphasizing the importance of managerial accountability. Then, the course offers a review of the various instruments and factors that help align managerial incentives with those of firm. A special attention is devoted to the objective of the firm, namely, whom managers should be accountable to.
Testi di riferimento Brickely, Smith, Zimmerman - Managerial Economics and Organizational Brickely, Smith, Zimmerman - Managerial Economics and Organizational Architecture. Irvin McGraw Hill, sesta edizione (capitoli X, XV, XVII) Tirole. The Theory of Corporate Finance. Princeton University Press (chapter I).
Obiettivi formativi Comprehension of the managerial incentives systems and problems in relation to firm objectives and performance.
Prerequisiti The course does not require any particular prerequisite.
Metodi didattici Teacher-led lessons (theory and exercises).
Altre informazioni Course attendance is not mandatory but it is highly recommended. Useful resources: https://ideas.repec.org/ http://www.ssrn.com/en/ www.scholar.google.com www.scopus.com (from a University’s PC) http://apps.webofknowledge.com/UA_GeneralSearch_input.do?product=UA&search_mode=GeneralSearch&SID=Z1PHRcE6xJX5IyMyunz&preferencesSaved= (from a University’s PC)
Modalità di verifica dell'apprendimento The exam takes different forms depending on whether the student has attended the course or not. A student is said to be “attending” if he/she prepared a presentation in team and presented it in front of the (see part 1 of the exam for attending students). a. Attending students The final exam consists of two parts: 1. Presentation in front of the class (10/30); 2. Written exam (22/30). The presentation (of about 20’) must be prepared in team of at least 3 and no more than 5 persons. The presentations may be given and written in English or Italian. The presentation will be based on one or more scientific articles chosen by the students among the ones proposed by the teacher in the dedicated section in Moodle. Alternatively, the presentation will focus on a real event that has to be described and evaluated in light of the theory learned during the course. The presentation will focus on a subject included in the course arguments. The grade obtained in the presentation is unique and will be assigned to all team members; it will be taken into account and added to the grade obtained in any future written exam taken during the a.a. 2018-2019. In order to obtain a grade for the presentation, the student must attend the day of the presentation: the participation to the presentation’s preparatory works will not be evaluated and does not grant any right to the students who will not present in class to receive a grade for the presentation itself. The second part of the exam is in writing (in Italian) and will focus on all the material mentioned in the "Course texts" session, including the slides in Moodle but excluding the Moodle section dedicated to non-attending students. Examples of questions and exercises included in the written exam can be found in the "Self-evaluation problems" and "Review questions" sections at the end of each chapter of Brikley, Smith, Zimmerman (sixth edition). Students who had obtained a final grade equal to or greater than 18/30, can also take an optional, oral exam and get a supplementary grade (up to +/-2/30). Students can take up to 3 consecutive written tests during the exams sessions of June/July 2019, September 2019, January/February 2020. b. Non-attending students The exam is in writing (in Italian) and will focus on all the material mentioned in the "Course texts" session, including the slides in Moodle and the section dedicated to non-attending students. Examples of questions and exercises included in the written exam can be found in the "Self-evaluation problems" and "Review questions" sections at the end of each chapter of Brikley, Smith, Zimmerman (sixth edition). The maximum grade attainable at the written exam is 32/30 (“trenta e lode”). Students who had obtained a final grade equal to or greater than 18/30, can also take an optional, oral exam and get a supplementary grade (up to +/-2/30). Students can take up to 3 consecutive written tests during the exams sessions of June/July 2019, September 2019, January/February 2020.
Programma esteso The course contents may vary depending on the needs and opportunities that may arise during the course itself (for example, presence of visiting professors, seminars, requested or necessary in-depth analyzes). 1. Incentive Conflicts within Firms a. Owner-Manager Conflicts b. Other Conflicts 2. Controlling Incentive Problems through Contracts a. Costless Contracting b. Costly contracting and Asymmetric Information c. Postcontractual Information Problems d. Precontractual Information Problems 3. Implicit Contracts and Reputational Concerns 5. The Basic Incentive Problem a. Incentives from Ownership b. Optimal Risk Sharing 6. Effective Incentive Contracts a. Principal-Agent Model b. Informativeness Principle c. Group Incentive Pay d. Multitasking e. Forms of Incentive Pay f. Incentive Compensation and Information Revelation g. Selection Effects of Incentive Contracts 7. Does Incentive Pay Work? 8. Publicly Traded Corporations a. Corporate Form of Organization b. Stock Exchanges c. Stock Ownership Patterns d. Governance Objectives 9. Separation of Ownership and Control a. Incentive Issues b. Survival of Corporations c. Benefits of Publicly Traded Corporations 10. Top-Level Architecture in U.S. Corporations a. Sources of Decision Rights b. Shareholders c. Board of Directors d. Top Management e. External Monitors 11. International Corporate Governance 12. Market Forces 13. Sarbanes-Oxley Act of 2002 14. Corporate Governance: An Historical Perspective 15. Negotiation
Course borrowed from MANAGEMENT E FINANZA (1407) - EC0127 MANAGERIAL INCENTIVES - NOVARA
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Course STRATEGIE, POLITICHE D'IMPRESA E PEOPLE STRATEGY
Course ID EC0157
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader MAGGI Davide
Teachers Maggi Davide, Seddio Pasquale
CFU 10
Teaching duration (hours) 75
Individual study time 175
SSD SECS-P/07 - ECONOMIA AZIENDALE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi 1. Applying knowledge and understanding. The knowledge acquired during the course will allow the student to use the strategic, managerial and organizational skills and competences to be applied in the business realities. In particular, the student must acquire the technical-economic language of the company disciplines and be able to formulate the economic analysis of the company processes and to understand the critical elements that characterize the areas of activity carried out by the company. 2. Making judgments. The course will allow the student to develop an autonomy of judgment and will put the student in the conditions to express considerations regarding the company balances and management facts. 3. Communication skills. On the basis of the acquired knowledge, the student will be able to develop communication and relational skills for the business consulting activity and to perform evaluations of a strategic nature, in the job positions related to the relative function. 4. Learning skills. The study of the discipline will allow the student to understand the dynamics of the company framing the analysis of the single management moment in the unitary and coordinated vision of the business facts and the economic environment in which the company carries out its activity
Contenuti Introduction to business strategy: definitions compared; • Analysis of industrial sectors; • Identification of the strategic structure of the company; • Evaluation of the business formula; • Strategic management; • Analysis of the structure of the private and public sector; • The value network; • Competitive dynamics; • Strategic innovation. II part of the course (5 CFU): • Corporate Social Responsibility; • Business ethics; • Policies and tools on the strategic management of human resources; • Instruments for measuring and exploiting intangible resources; • Performance measurement tools: Human Resource Scorecard.
Testi di riferimento - G. Invernizzi (a cura di), Le strategie competitive, McGraw-Hill, 2014 - P. Maggiolini (a cura di) (2012), Ciò che è bene per la società e bene per l'impresa, Franco Angeli, Milano - capp. 1,2,3,5,6,7 e un capitolo a scelta della parte terza del libro - M.C. Bombelli (2010), Management plurale, Etas, Milano
Obiettivi formativi The course aims to develop in students a critical understanding of the objectives, of the principles and methods of Business and Strategic Management, Business Ethics and People Strategy in the different profit, not for profit and public business contexts. At the end of the course the students will acquire an understanding of the topics and the critical issues referring to corporate strategy, social responsibility, business ethics and strategic management of human resources, in their theoretical and practical aspects and with reference to the national and international dimension.
Prerequisiti Students who access the course must know the theoretical framework, the terminology basic and the main tools related to general management theories.
Metodi didattici The teaching activity includes lectures, seminars, exercises and case analysis. Lessons give a picture of the main themes of business strategy, social responsibility and business ethics. The seminars will offer an in-depth analysis of specific aspects and will allow to develop a critical understanding. The exercises and the analysis of the cases will be used to discuss the practical implications of the topics covered.
Altre informazioni Project Work, Assignement in small groups and educational workshops with oral presentation in the classroom (optional).
Modalità di verifica dell'apprendimento The exam is written and individual for students attending and not. The exam is written with questions on business and strategic management issues (I part), business ethics, corporate social responsibility and people strategy (part II). A first intermediate exam is scheduled after 30 hours of class, referred to the part of Business and Strategic Management. At the end of the course there will be the second related trial to the part of Business Ethics and People Strategy. The vote of each trial will have a weight proportional to the number of credits. The answers will be evaluated specifically and the exam will be considered passed if there is enough in both parts of the course.
Programma esteso The first part of the course (5 CFU) is divided into two blocks: First block: - The boundaries of the sector analysis: definition, the fundamental factors of competition, barriers to entry, internal competition, substitute products, the bargaining power of buyers and suppliers; - Basic competitive strategies: global cost leadership (levers and advantages), differentiation (levers and advantages), segmentation (levers and advantages), differences between strategies, half-completed strategies, the risks of basic strategies; - Analysis of the internal structure of the sector: the components of the analysis of competition, the objectives of the strategic units, the group objectives, portfolio analysis of the competitors, analysis of the strengths and weaknesses of a competitor, the field of alternatives strategies, groupings, rivalry between companies; - The evolution of the sector: the life cycle of the product, the processes of change, i changes in the sector; the strategy in the emerging sectors, characteristics of the sectors emerging, the constraints to the development of the sector, the strategic alternatives, the moment entry; the transition of the sector to the stage of maturity, characteristics of the sectors mature, transition traps, the organizational implications of maturity; - Strategic innovation management: Inventions and innovations, the process innovation, profitability of innovation, the appropriateness of innovation rents, strategies for economic exploitation; - Company growth: growth strategies: intensive, integrative, for diversification; advantages and disadvantages of vertical integration; concentric and pure diversification; forms of growth: dimensional, relational, qualitative. Second block: - The strategic management that characterizes the management in the public and non-profit sector. We analyze the different approaches, the logics and the tools within a vision functional of the public interest aimed at reducing the overlap between strategies and public policies. The second part of the course (5 CFU) focuses on policies, tools and critical issues related to business ethics, corporate social responsibility and new forms of social reporting. It is also proposed to present the strategic role of human resources, within the broader business strategy. We refer to the role of human resources, both as part of the business strategy, both in the context of the sustainability strategy and of Corporate Social Responsibility. Tools for measuring and exploiting intangible resources. Performance measurement tools: Human Resource Scorecard
Course borrowed to AMMINISTRAZIONE, CONTROLLO E PROFESSIONE (1406) - EC0010 Strategie, politiche d'impresa e deontologia professionale
MANAGEMENT E FINANZA (1407) - EC0134 STRATEGIE E POLITICHE D'IMPRESA - NOVARA
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Course ECONOMIA DEL CAPITALE UMANO
Course ID EC0155
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader BAICI Eliana
Teachers Baici Eliana
CFU 8
Teaching duration (hours) 60
Individual study time 140
SSD SECS-P/02 - POLITICA ECONOMICA
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi At the end of the course, students will have a precise knowledge of what human capital is and how it can influence the economic development and the life of firms. In particular, they will be able to distinguish the role of individual and collective decisions on the allocation of human capital both at the enterprise level and at the aggregate level. They will also be able to compare the outcomes of different economies based on their differences in terms of human capital characteristics.
Contenuti The course “Economics of Human Capital” aims to analyse the role that human capital plays in the development of the economic systems, within firms and in the life of each individual. In the future knowledge will be more and more at the base of every aspect of human life, this is a reason why the course analyses the choices of investment in human capital by individuals and firms. “Economics of human capital” also discusses the role that labour market dynamics, at the national and international level, exert on the accumulation of human capital and how economic policy affects the choices of individuals and firms in terms of investment in education and training.
Testi di riferimento Module 1 – Human Capital Economics (6 CFU): 1. Claudia Goldin, Human Capital, in Handbook of Cliometrics, Springer-Verlag Berlin Heidelberg 2016 2. T.W. Schultz, Investment in Human Capital, The America Economic Review, Vol. 51, No. 1 (March 1961) 3. Word Economic Forum, The Global Human Capital Report 2017 4. Pepi De Caleo - Brucchi Luchino, Manuale di economia del lavoro, Il Mulino, Bologna, 2015, capp. IV, V, VI, XI e XIV 5. Brucchi Luchino, Manuale di economia del lavoro, Il Mulino, Bologna, 2001, capp. VIII, IX, X, XI 6. George J. Borjas, Economia del lavoro, Francesco Brioschi Editore, 2010, capp. 5, 6, 10, 12, 8.7. Luca Pesenti, Il Welfare in azienda. Imprese “smart” e benessere dei lavoratori, Vita e Pensiero, Milano, 2016. - Material suggested during the lectures For further information, please consult the course page on D.I.R.: https://www.dir.uniupo.it/
Obiettivi formativi Economics of Human Capital aims to ensure that students know, understand and are able to analyze, making autonomous judgments, the main issues related to human capital investment by individuals, firms and society. At the end of the course, they will know, understand and critically discuss the theoretical models that analyze how individuals and firms make their own decisions about the accumulation of human capital through education, training and development of skills and abilities. They will also be able to understand and critically assess the impact of those decisions on the whole society not only in terms of net wealth. A further objective of the course is to make students able to analyze the role of the institutions and discuss the main economic policy interventions as well as to reflect on the empirical evidence related to the main industrialized countries.
Prerequisiti Micro- and Macroeconomics
Metodi didattici To reach the objectives of the course, the following teaching methods will be adopted: • Lectures, to illustrate the main arguments that the students should know; • Exercises in order to deepen the understanding of students about course content; • Testimonials, so that students can meet and interact with innovators and/or experts to understand how the knowledge acquired during the course is met in practice; • Presentations by group of students (potentially in English) to verify their capacity of analysis, synthesis, critical judgement and communication.
Altre informazioni Class attendance is optional, but recommended. Students, who attend lectures will have, additional possibilities if they sit the exam at the end of the course.
Modalità di verifica dell'apprendimento The exam is written. Students have to answer to 4 open questions within 60 minutes (max 7,5 points per question). The examination questions want to check if the student knows, understands and is able to use the theoretical models, in order to analyze the main themes, object of the course, and comment on the empirical evidence. Students, which have actively attended most of the classes and sit the exam during the winter session, can substitute one question with a class presentation.
Programma esteso 1. Definition and measurement of human capital 2. Investment in education 3. Investments in training 4. Returns on human capital investment 5. Compensatory wage differentials 6. Discrimination 7. The regulation of the labour market 8. The role of the unions 9. Job market imperfections and unemployment 10. Labour mobility and immigration 11. Welfare 12. Firms and welfare 13. The construction of the welfare plan
Course borrowed to AMMINISTRAZIONE, CONTROLLO E PROFESSIONE (1406) - EC0027 Economia del lavoro - NOVARA
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Course DIRITTO DEL LAVORO, RELAZIONI INDUSTRIALI E PARI OPPORTUNITA'
Course ID EC0159
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader GARDELLA Bianca
Teachers Santini Fabrizia, Gardella Bianca
CFU 8
SSD IUS/07 - DIRITTO DEL LAVORO, IUS/02 - DIRITTO PRIVATO COMPARATO
Course type Attività formativa integrata
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Modules
Course ID Course SSD Teachers Agenda web
EC0160DIRITTO DEL LAVORO E RELAZIONI INDUSTRIALI IUS/07 - DIRITTO DEL LAVORO Santini Fabrizia
EC0161PARI OPPORTUNITA' IUS/02 - DIRITTO PRIVATO COMPARATO Gardella Bianca
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Course DIRITTO DEL LAVORO, RELAZIONI INDUSTRIALI E PARI OPPORTUNITA': DIRITTO DEL LAVORO E RELAZIONI INDUSTRIALI
Course ID EC0160
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader SANTINI FABRIZIA
Teachers Santini Fabrizia
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD IUS/07 - DIRITTO DEL LAVORO
Course type Modulo di sola Frequenza
Course mandatoriety OBB
Course category B
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi At the end of the course the student will be able to correctly identify the sources of discipline (collective agreement or law) of the individual institutions and will be able to give correct interpretation and application. He will be able to identify the areas of competence reserved for collective bargaining and the limits of intervention in relation to the law and to the other levels of collective bargaining.
Contenuti The course offers a complete analysis of labor law in its double articulation: the discipline of the employment relationship and the collective bargaining. Care should be taken to highlight in which institutions of the public sector employment still differs from the private sector, not forgetting to make an economic analysis of the rules of specific institutions.
Testi di riferimento Carinci, De Luca Tamajo, Tosi, Treu – il diritto del lavoro – vol. 1 Il diritto sindacale – UTET 2015 – ult. edizione - Carinci, De Luca Tamajo, Tosi, Treu – il diritto del lavoro – vol. 1 Il rapporto di lavoro subordinato – UTET – ult. edizione
Obiettivi formativi At the end of the course the student will have a knowledge of the law governing the employment relationship employed by the private sector and employment in the public administration, of the Right and will apply the rules and institutions for practical cases.
Prerequisiti The general prerequisites.
Metodi didattici The course is organized into lectures. Attendance is not mandatory but is strongly recommended in order to acquire, including through classroom activities, a greater mastery of the subject, the legal vocabulary and understanding of the legislative texts technique that from time to time are analyzed.
Altre informazioni Students are encouraged to refer to the course page of Dir for the supplementary material and to support besides lesson for the detailed program
Modalità di verifica dell'apprendimento According to the CCL Regulation, there will be a mid-term exam concerning the first part of the course, in writing, reserved for students attending. written final exam - The test - written - will last 45 minutes. It will consist of a series of "open questions". It aims to verify the knowledge of the regulations, the ability to process and organize data and concepts learned, applying discipline in the solution of practical cases.
Programma esteso Subject of the course will be the right of association and the right of employment relationships and, in particular: - To the right of association: the historical evolution of the Right Italian; the trade union organization; Freedom of Association; representation and trade union representation; corporate union representation (in the private sector and in the public sector) and trade union rights in the workplace; the collective agreement (models, structure, effectiveness, mandatory nature); the relationship between collective agreements and between collective bargaining and the law; collective bargaining in the civil service "privatized"; the collective dispute (the right to strike in its general outlines legal -nature, ownership, boundaries - and other forms of industrial action); the strike in essential public services; lockout; the repression of the anti-union behavior; - To the right of the employment relationship: the sources of labor law; the concepts of subordination, autonomy and parasubordination; the organization of the labor market and the establishment of relations; the type of employment contracts (fixed-term contract, parttime, temp work, etc.). the Governing power of the employer (general profiles, the discipline and the tasks of the employee's transfer, the working time management); the power of control and disciplinary power; the protection of health and safety in the workplace; remuneration (constitutional profiles, concept and structure, wage automation); the suspension of the employment relationship; layoffs; of the surplus personnel; the layoffs of discipline. Particular attention is given to developing skills in understanding and drafting of written texts. Students will be asked to rework, even in writing, analysis of case law material and / or doctrinal. Even the interim and final tests are in written form. In order to enrich the educational offer of the course giving the right space at the professional dimension, there is the testimony of a lawyer, a job counselor or a corporate lawyer who will explain in practical terms what it means today to be applying the law. Students are advised to check the detailed schedule of classes posted on DIR for the topics of the individual lectures.
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Course DIRITTO DEL LAVORO, RELAZIONI INDUSTRIALI E PARI OPPORTUNITA': PARI OPPORTUNITA'
Course ID EC0161
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader GARDELLA Bianca
Teachers Gardella Bianca
CFU 2
Teaching duration (hours) 15
Individual study time 35
SSD IUS/02 - DIRITTO PRIVATO COMPARATO
Course type Modulo di sola Frequenza
Course mandatoriety OBB
Course category C
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
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Course MERCATI EMERGENTI
Course ID EC0136
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader TADINI MARCELLO
Teachers Tadini Marcello
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD M-GGR/02 - GEOGRAFIA ECONOMICO-POLITICA
Course type Attività formativa monodisciplinare
Course mandatoriety OPZ
Course category C
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi Identifying Emerging Markets Ability to analyze and select emerging markets
Contenuti The course provides the basic knowledge that are preparatory to the analysis and interpretation of the markets. In particular, the course aims to deepen such countries can be considered emerging markets and what is the role played by them globally, in terms of competitiveness, investment attractiveness and contribution to development. Some of these markets are considered as case studies.
Testi di riferimento During lectures will be distributed handouts The course texts (available at the Department’s Library) are: 1. Dematteis G., Lanza C., Nano F., Vanolo A. (2010), Geografia dell’economia mondiale, Quarta edizione, Utet, Torino, cap. 2-7 2. Caroli M. (2012), Gestione delle imprese internazionali, McGraw-Hill, Milano, cap. 1-2-3-7 3. Bursi T, Galli G. (2012), Marketing internazionale, McGraw-Hill, Milano, cap. 1-3-4-5-6 4. Tadini M. (2017), La geografia del sistema economico globale. Il ruolo dei mercati emergenti, Aracne Editrice, Roma.
Obiettivi formativi The course aims to provide students with the basic knowledge to identify and explore emerging markets and interpret recent evolutionary dynamics. At the end of the course the student: − will understand the current global system of production; − will be able to identify emerging markets and to analyse their characteristics; − will evaluate and select possible alternative locations of enterprise; − will evaluate and select potential markets (emerging) of entry and how.
Prerequisiti None
Metodi didattici The teaching will be conducted through lectures, held by the teacher or by experts, and through exercises and group discussions.
Modalità di verifica dell'apprendimento The examination consists of a written test on the texts mentioned above and provides insights on the topics covered in class.
Programma esteso The course is divided into lessons of two hours, whose contents are listed below. • Internationalization and foreign markets entry modes • Multinationals corporations and foreign direct investment • The criteria for analysing localization in foreign markets • Some useful indexes for market analysis • The world system • Emerging markets: definition and representations • Emerging markets: key features • BRIC • Investments in and from emerging markets • Multinational corporations: cases and strategies • Sectorial analysis: the coffee market • Country cases and investment opportunities: Brazil, South Korea, Poland
Course borrowed from MANAGEMENT E FINANZA (1407) - EC0136 MERCATI EMERGENTI - NOVARA
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Course FONDAMENTI DI BUSINESS ANALYTICS
Course ID EC0135
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader FUSAI Gianluca
Teachers Fusai Gianluca
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-S/06 - METODI MATEMATICI DELL'ECONOMIA E DELLE SCIENZE ATTUARIALI E FINANZIARIE
Course type Attività formativa monodisciplinare
Course mandatoriety OPZ
Course category C
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi On successful completion of this module, you will be expected to be able to:Knowledge and understandingDemonstrate systematic and comprehensive knowledge of the different sources and types of financial risk in a corporateDemonstrate sound appreciation of how different decisions can affect the results of the firmSkillsIdentify accurately complex risk factors and use appropriate tools in quantifying their impactSynthesise wide-ranging and complex information required to execute accurate and realistic decisions at corporate levelDemonstrate mastery of quantitative skills required for modern risk managementExecute complex assessments and communicate outcomes effectively to all management levels of corporate organisationsDemonstrate a general risk versus reward business perspective.Values and attitudesAppreciate the importance of real options thinking for a wide range of stakeholders at trader, corporation and institution level
Contenuti Aims of the course are to give to corporate decision-makers the ability 1. to assess the profitability of their decisions 2. which avenue of expansion or investment to go down and, crucially, when to take that leap 3. how to implement the theory to maximize investment opportunities by utilizing uncertainty as an asset and reducing downside risk. The course is a journey through real options, from the basics to more advanced topics such as options and game theory. The course is also strongly suggested to students with a major in Management & Finance
Testi di riferimento Guthrie, Graeme. 2009. Real Options in Theory and Practice, New York: Oxford University Press.
Obiettivi formativi By the end of this course, students should be able to: • demonstrate an understanding of the real options approach to decision making • estimate the values of the parameters needed to implement this approach • identify the most important options embedded in a decision problem and represent them using a decision tree, via softward like Matlab and Excel • use dynamic programming and modern theories of asset valuation to derive an optimal decision rule • interpret observed firm behaviour in terms of the real options embedded in decision problems • communicate the results of real options analysis at a level that senior decision makers can understand• publish the results of the analysis with the support of web sites
Prerequisiti None
Metodi didattici Lectures including both theory and exercises. Excel and Matlab will be used
Altre informazioni Additional information will be made available during the course on the course web page (www.dir.uniupo.it). Attendance of the course lessons is strongly recommended.
Modalità di verifica dell'apprendimento Individual or Group Coursework with discussion, to test the comprehension of the more advanced topics, and the skill of applying the acquired knowledges in order to analyse more complex and structured problems.
Programma esteso Material will be drawn from the following list: • The modelling framework • Valuing single-period cash flows • Valuing multi-period cash flows • Monte Carlo simulation and scenario analysis • Combining valuation and decision making; options that do not affect the state of a project • Simple timing options • Compound timing options; uber-compound timing options; switching options • Learning options • Calibration using spot and futures price data • Calibrating trees of alternative state variables • Case studies: forestry management and valuation; developing a gas field; commercial real estate development • Excel e Matlab will largely used in the course. Lectures on how to use them will be also given.
Course borrowed from MANAGEMENT E FINANZA (1407) - EC0135 FONDAMENTI DI BUSINESS ANALYTICS - NOVARA
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Course DIRITTO DEL GOVERNO DELLE IMPRESE
Course ID EC0163
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader FREGONARA ELENA
Teachers Fregonara Elena
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD IUS/04 - DIRITTO COMMERCIALE
Course type Attività formativa monodisciplinare
Course mandatoriety OPZ
Course category C
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi A) Knowledge and understanding We hope that students gain knowledge and understanding on corporate governance, with particular attention to decision making, management diligence and management supervision. B) Applying knowledge and understanding We hope that students are able to properly apply rules studied. C) Making judgements We hope that the students gain critical skills in evaluating the answer provided by the professionals, including case law. D) Communication skills We hope that the students are able to discuss the issues and to propose solutions. E) Learning skills We hope that the students gain the methodological basis about the legal research on law matters and are able examine in depth the subjects discussed during the course.
Contenuti The corporate governance PARTNERSHIPS STOCK COMPANIES LISTED COMPANIES COMPANY LIMITED BY SHARES LIMITED LIABILITY COMPANY COOPERATIVES SUPERVISED COMPANIES PUBLIC COMPANY GROUPS OF COMPANIES
Testi di riferimento An updated version of the Civil Code is essential. Other recommended readings: AA.VV., Diritto del governo delle imprese, diretto da Maurizio Irrera, Giappichelli, Torino, 2016.
Obiettivi formativi 1) Knowledge and understanding. The course’s purpose, throughout the study of the corporate governance in the various types of companies, is to provide students with appropriates instruments to understand and correctly apply the rules of law in each individual case with a critical attitude and an appropriate technical language. 2) Applying knowledge and understanding. The course’s purpose is to allow the comprehension of scholars’ works and judicial decisions. 3) Making judgments. The course’s purpose is to provide students the instruments to be able to grasp the main issues of the subject, to apply them to practical cases and to critically analyze the different interpretations of a rule. 4) Communication skills. The course’s purpose is to provide the student with the ability to rigorously use the legal technical language. 5) Learning skills.The students will become familiar with the most important pieces of legislation and sources of bibliographic references.
Prerequisiti Students must have proven knowledge of Commercial Law.
Metodi didattici 1. Knowledge and understanding. Traditional face-to-face lessons and self-study based on teaching materials here suggested or indicated during the course. 2. Applying knowledge and understanding. Exercises carried out by the Professor during the course. 3. Making judgments. Students will be stimulated to interpret the rules during face-to-face lessons. 4. Knowledge of technical language – Communication skills. The meaning of legal terms will be explained during the course. 5. Learning skills. Starting from the rule of law, doctrinal and case-law developments related to every legal instrument will be analyzed.
Altre informazioni Will be exempt from the following topics only - COMPETENCES, AUDIT, EXTERNAL CONTROL, COOPERATIVES, MEMBER'S INTERFERENCE IN THE MANAGEMENT AND THEIR LIABILITY, category of shares, groups of companies and "patti di famiglia" - everyone who has in the course of study the teaching of corporate governance law by 6 ECTS.
Modalità di verifica dell'apprendimento The exam is written. Students are given the option of taking two written mid-term exams. Specifically, the exam consists of essay questions aimed at verifying an in-depth knowledge of the rules of law, the ability to apply the knowledge of the legal institutes to concrete cases and the ability to critically interpret the rules of law.
Programma esteso Notion of corporate governance and the historical relationship between the general assembly and the board of directors: Part I: MANAGEMENT - COMPETENCES - APPOINTMENT - PERSONAL REQUIREMENTS - PROHIBITION OF COMPETITION - COMPANIES DIRECTORS - TERMINATION - REPLACEMENT - STRUCTURE AND FUNCTIONING - ORGANISATIONAL STRUCTURE - DUTIES - REMUNERATION - LEGAL REPRESENTATION - LIABILITY AND BUSINESS JUDGMENT RULE - GENERAL DIRECTOR Part II: CONTROL SYSTEMS AND ALTERNATE CORPORATE GOVERNANCE SYSTEMS - MEMBER' S RIGHT OF CONTROL - STATUTORY AUDITORS - AUDIT - EXTERNAL CONTROL - INTERNAL SYSTEM CONTROL - “ORGANISMO DI VIGILANZA” - ONE-TIER AND TWO-TIER SYSTEMS Part III: OWNERSHIP, GOVERNANCE AND GROUPS OF COMPANIES - MEMBER'S INTERFERENCE IN THE MANAGEMENT AND THEIR LIABILITY - CLASSES OF SHARES - “PATTI DI FAMIGLIA” - GOVERNANCE AND GROUPS OF COMPANIES
Course borrowed from AMMINISTRAZIONE, CONTROLLO E PROFESSIONE (1406) - EA049 DIRITTO DEL GOVERNO DELLE IMPRESE - NOVARA
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Course CONGIUNTURA ITALIANA ED INTERNAZIONALE
Course ID EC0125
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader CARABELLI Anna Maria
Teachers Carabelli Anna Maria
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/01 - ECONOMIA POLITICA
Course type Attività formativa monodisciplinare
Course mandatoriety OPZ
Course category C
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Course borrowed from MANAGEMENT E FINANZA (1407) - EC0125 CONGIUNTURA ITALIANA ED INTERNAZIONALE - NOVARA
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Course HR ANALYTICS
Course ID EC0156
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader MAY CATERINA
Teachers May Caterina
CFU 10
Teaching duration (hours) 75
Individual study time 175
SSD SECS-S/01 - STATISTICA
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian and English
Contenuti The course aims to present the basic methodology of Data and Predictive Analytics for human resource management with the support of ad hoc IT tools.
Testi di riferimento Fitz-enz, J., & Mattox, J. (2014). Predictive Analytics for Human Resources. Wiley. Martin R. Edwards, Kirsten Edwards (2016). Predictive HR Analytics: Mastering the HR Metric. KoganPage. Alan Agresti, Barbara Finlay (2017). Metodi statistici di base e avanzati per le scienze sociali. Pearson. Further: teaching material prepared by the professors.
Obiettivi formativi The course objectives are divided into three levels: 1. methodological: knowledge of the main tools of HR Analytics, their conscious use, critical reading of results; 2. computational: analysis of some useful software in empirical analysis, understanding of their potential and their limits; 3. team-working: develop the ability to work in teams on specific issues and communicate results effectively.
Prerequisiti Contents of basic Statistics and of basic Mathematics in economics (see E0252, E0362 and EA007).
Metodi didattici Classroom ectures, laboratory exercises, seminar activities by HR experts, team exercises.
Altre informazioni Part of the course will be dedicated t meeting and working with experts from the HR sector (Deloitte Consulting and others).
Modalità di verifica dell'apprendimento An assessment is based on: 1. written essays consisting in - theoretical questions to test the knowledge of the concepts and the mastery of the language; - numerical exercises to test abilities acquired in the use of calculation algorithms and of the software; - structured data-based problems and commentary on the results in order to assess autonomy in statistical analysis. 2. Oral discussion of a real-case application to test the skills gained in group experience. Alternatively, an oral test is scheduled during formal appeals on the topics covered in the textbook.
Programma esteso 1. Analytics for Human Resources 2. Conjugate analytic models with business processes 3. Who is the owner of the data? Which business processes / functions are provided? 4. Data formats, computer tools 5. Importance of data quality: data cleaning and data pre-processing. Exploration and data display. 6. KPIs Identification 7. Probability and statistical inference. 8. Survey Methods: statistical sampling and data collection techniques. Layered sampling, multi-stage sampling, cluster sampling. 9. Matrix representation of multidimensional data: data matrix, covariance and correlation matrix, dissimilar matrices. 10. Main data mining techniques for managing large data arrays: a. Hierarchical cluster analysis and k-means method. Segmentation methods; b. Factorial techniques: principal components analysis. 11. Linear regression models and logistic regression. 12. Introduction to Machine-Learning and Big-Data. 13. Foresee the future: Predictive Analytics for Human Capital
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Course DESIGN E COMPORTAMENTO ORGANIZZATIVO
Course ID EC0158
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader MORELLI CHIARA
Teachers Morelli Chiara
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/10 - ORGANIZZAZIONE AZIENDALE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Primo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi 1. Applying knowledge and understanding. The knowledge acquired during the course will allow the student to use the organizational skills and competences to be applied in the business cases. In particular, the student must acquire the business language of the company disciplines and be able to formulate the organizational analysis of the company processes. 2. Making judgments. The course will allow the student to develop an autonomy of judgment and will put the student in the conditions to express considerations regarding the organization and human resource management. 3. Communication skills. On the basis of the acquired knowledge, the student will be able to develop communication and relational skills for the business consulting activity and to perform evaluations. 4. Learning skills. The study of the discipline will allow the student to understand the dynamics of the company framing the analysis of the single business unity in a coordinated vision of the business facts and the economic environment in which the company carries out its activity
Contenuti Organizational Design: a step-by-step methodology which identifies dysfunctional aspects of work flow, procedures, structures. Organisational behaviour: the study of human behavior in organizational settings.
Testi di riferimento Design Organizzativo: Scienza dell’Organizzazione. Il Design di strutture, processi e ruoli. Carocci Editore _Cap.4,5,6 Comportamento Organizzativo: Comportamento Organizzativo. Conoscere e sviluppare competenze organizzative. Pearson Editore_ Cap.4,8,9,11,13,14,15. For attending and non-attending students, reference material (slides, case studies, articles) produced by the lecturers will be made available in the web page of the course at the URL: https://dir.uniupo.it/
Obiettivi formativi The purpose of the course is to equip students with the necessary knowledge, skills and abilities to identify dysfunctional aspects of work flow, procedures, structures and systems, realigns them to fit current business realities/goals and then develops plans to implement the new changes.
Prerequisiti None
Metodi didattici Different teaching tools will be used: a) traditional lessons in class; b) case studies, where the theories are presented in real business situations; c) guest speakers. The course is interactive and may involve carrying out simulations, guest speakers, real case studies discussions and group assignments.
Altre informazioni Course attendance is facultative
Modalità di verifica dell'apprendimento Final written exam (60 minutes/ 4 open questions)
Programma esteso ORGANIZATIONAL DESIGN: • Principles of designing organizations • Issues of implementation of various design strategies and interventions. ORGANIZATIONAL BEHAVIOUR: communications, motivation, group dynamics, leadership, power, and organizational design and development.
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Course BUSINESS INFORMATION MANAGEMENT
Course ID EC0129
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader CANDIOTTO Roberto
Teachers Candiotto Roberto, Gandini Silvia
CFU 4
Teaching duration (hours) 30
Individual study time 70
SSD NN -
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category F
Year 1
Period Primo Semestre
Site NOVARA
Grading type G
Lingua insegnamento Italian
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Course ORGANIZZAZIONE E GESTIONE DELLE RISORSE UMANE
Course ID EC0162
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader MORELLI CHIARA
Teachers Morelli Chiara
CFU 8
Teaching duration (hours) 60
Individual study time 140
SSD SECS-P/10 - ORGANIZZAZIONE AZIENDALE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category B
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi 1. Applying knowledge and understanding. The knowledge acquired during the course will allow the student to use the organizational skills and competences to be applied in the business cases. In particular, the student must acquire the business language of the company disciplines and be able to formulate the organizational analysis of human resource management. 2. Making judgments. The course will allow the student to develop an autonomy of judgment and will put the student in the conditions to express considerations regarding the human resource management. 3. Communication skills. On the basis of the acquired knowledge, the student will be able to develop communication and relational skills for the business consulting activity. 4. Learning skills. The study of the discipline will allow the student to understand the dynamics of the company framing the analysis of the single practice in a coordinated vision of the business facts and the economic environment in which the company carries out its activity.
Contenuti Development of Human Resource Management Employee Recruitment and Selection Job descriptions and Person Specification Managing Performance Retention strategies Goal setting, performance evaluation and performance expectations
Testi di riferimento REBORA G., La Direzione del Personale, Etas, 2009 This book is available in the library For attending and non-attending students, reference material (slides, case studies, articles) produced by the lecturers will be made available in the web page of the course at the URL: https://eco.dir.unipmn.it/
Obiettivi formativi The purpose of the course is to equip students with the necessary knowledge, skills and abilities to manage human resources effectively in organizations. This course provides an overview of basic human resource management functions: recruitment, total rewards, compensation and benefits, training and development, and organizational behavior. This course examines how human resource managers promote the company's goals through Human Resource Development (HRD).
Prerequisiti None
Metodi didattici Different teaching tools will be used: a) traditional lessons in class; b) case studies, where the theories are presented in real business situations; c) guest speakers. The course is interactive and may involve carrying out simulations, guest speakers, real case studies discussions and group assignments.
Altre informazioni Course attendance is facultative.
Modalità di verifica dell'apprendimento Final written exam (60 minutes/ 4 open questions)
Programma esteso Organizational environment and people management Strategy and its relationship to people management Tools/inputs for HR decision making Planning for optimal utilization of people and talent Recruitment and selection Orientation and training Managing and enhancing performance Compensation issues and components Employee relations and worker issues Global companies and diversity challenges
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Course INSURANCE
Course ID EC0133
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum Risorse Umane
Teaching leader VALLETTA Mario
Teachers Valletta Mario, Zocchi Paola
CFU 6
Teaching duration (hours) 45
Individual study time 105
SSD SECS-P/11 - ECONOMIA DEGLI INTERMEDIARI FINANZIARI
Course type Attività formativa monodisciplinare
Course mandatoriety OPZ
Course category C
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Lingua insegnamento Italian
Risultati di apprendimento attesi By giving a written exam, students must show: KNOWLEDGE - to know the fundamental features of the insurance “mechanism”; - to know the characteristics of the main types of both insurance and occupational pension contracts; - to know the fundamental profiles of the regulation of insurance contracts and insurance undertakings; - to know the logic underlying the definition of premiums and the quantification of technical reserves; - to know the features of insurance undertakings’ economic equilibrium model; COMPETENCES - to be able to interpret the technical and economic features of both insurance and occupational pension contracts from the contractor’s point of view; - to be able to interpret the technical and economic features of both insurance and occupational pension contracts from the insurer’s point of view; - to be able to analyze and evaluate the main economic margins of insurance companies (life and nonlife); - to be able to interpret the managerial implications of Solvency II regulatory environment; TRANSVERSAL SKILLS - to be able to interconnect among each other’s topics faced in different chapters of the course; - to be able to present a set of clear and structured arguments dealing with insurance theory and the management of life and nonlife insurance undertakings; - to be acquainted with the technical terminology used in the insurance sector at both the domestic and the international level; - to be able to read, comprehend and comment technical material from books, financial journals or other sources.
Contenuti N.B. Topics, teaching goals, teaching materials and the Course evaluation described below only apply to students whose undergraduate curriculum did not include any Course dealing with Insurance. In all other cases, students should complete an ad hoc syllabus agreed upon with the instructors. The Course deals with the role, the functions and the activities performed by insurance companies in the financial system and provides an in-depth insight about the functioning of the “insurance device” and the economic and technical characteristics of insurance contracts and private retirement plans. Furthermore, it aims at developing the knowledge of the different aspects of the management of insurance companies, from the underwriting process to asset-and-liability management, paying due attention to the EU and national regulatory framework. Both the nature and the dynamic of the need for private retirement plans are finally analysed.
Testi di riferimento - Santoboni F. (a cura di), Manuale di gestione assicurativa, Wolters Kluver CEDAM, 2017. Not to do: chapters 6 and 7. The textbook is available at the Library of the Department. - The instructors will provide articles, working papers and reports in order to deepen specific course topics by the course official web page at the following link: https://eco.dir.unipmn.it . The login to the web page requires a password; please contact the instructors to get it ( mario.valletta@uniupo.it or paola.zocchi@uniupo.it ).
Obiettivi formativi 1.Knowledge and understanding: the students will acquire the knowledges needed to understand: the features of the various types of “pure” risks as well as of the different techniques aimed at managing them; the features of the “insurance device”, including the conditions for the insurability of pure risks, the importance of mutuality, the logic underlying the pricing of insurance coverage, the nature and functions of technical reserves; the characteristics of insurance products and private retirement plans; the equilibrium conditions in the management of insurance companies and pension funds. 2. Applying knowledge and understanding: the ability to evaluate insurance and pension products by applying theoretical knowledges, and to evaluate the conditions of managerial equilibrium of insurance companies. 3. Making judgements: the ability of choosing the instruments best suited to satisfy insurance and pension needs and to evaluate their risks. 4. Communication skills: the students will acquire the ability to use the technical language used by professionals in the field at issue. The knowledge of the most important information sources will make them able to better support their arguments.
Prerequisiti None.
Metodi didattici 1. Knowledge and understanding: traditional face-to-face lessons and self-study based on teaching materials. During the Course some qualified guest speakers will be invited to share with the class their professional experience. 2. Applying knowledge and understanding: exercises carried-out by the teacher during the course and exercises based on previous written exams carried-out by the students (homework based on materials published on the course’s webpage). 3. Making judgments: students will be stimulated to make a judgemets on relevant cases, also through assignments and presentations. 4. Communication skills: the meaning of the terms used by professionals in the field of insurance will be adequately explained. 5. Learning skills: every topic will be discussed beginning from the illustration of the problem and then analyzing the various possible solutions.
Altre informazioni Further information can be found in the Course official web page at the following link: https://eco.dir.unipmn.it
Modalità di verifica dell'apprendimento One compulsory written exam consisting of six questions (closed books and closed notes), covering the whole course syllabus and including exercises, with a 60-minute duration. During the period of teaching, all students may sit for a mid-term written exam covering the first part of the course contents. 1. knowledge and understanding: by written open questions. 2. applying knowledge and understanding: through exercise. 3. making judgements: by written open questions. 4. communication skills: by written open questions. 5. learning skills: by a mid-term exam during the course
Programma esteso - Introduction on the course: objectives, program, assessment. - Risk and uncertainty. Pure risks vs. financial risks. - Methods of managing pure risks. - The features of the “insurance device” and elements of insurable risks. - Activities and functions performed by insurance companies. - The operational and economic characteristics of insurance contracts. - Life insurance: basic pricing methods, technical reserves, traditional contracts, unit- and index-linked contracts. - Property and Liability Insurance: basic pricing methods, technical reserves, types of contracts. - The management of insurance companies: the underwriting process and the financial aspects of insurance. - Coinsurance and reinsurance. - The business model of insurance companies and their balance sheet. - Capital requirements for insurance companies: from Solvency I to Solvency II. - The distribution of insurance products. - The need for private finance retirement products. - Types of private retirement products.
Course borrowed from MANAGEMENT E FINANZA (1407) - EC0133 INSURANCE - NOVARA
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Course LINGUA INGLESE
Course ID EC0130
Academic Year 2018/2019
Year of rule 2018/2019
Degree MANAGEMENT E FINANZA
Curriculum CORSO GENERICO
Teaching leader IRVING-BELL COLIN STEPHEN
Teachers Irving-bell Colin Stephen
CFU 4
Teaching duration (hours) 30
Individual study time 70
SSD L-LIN/12 - LINGUA E TRADUZIONE - LINGUA INGLESE
Course type Attività formativa monodisciplinare
Course mandatoriety OBB
Course category F
Year 1
Period Secondo Semestre
Site NOVARA
Grading type V
Contenuti The following topics will be at the core of the course: • The concept of the ever-changing state. • Current issues – Brexit, the aftermath, the European response. • The European Union – its structure, institutions, role and effectiveness. • The forming of modern Europe – the legacies of two World Wars. • The forming of the Welfare States in Europe. • The Thatcher & Blair legacies. • The Banking Sector and the City of London • Globalisation. • Immigration from outside the EU and from within. • The European Central Bank, the World Bank, the International Monetary Fund. • Corruption, acccountability and transparency. • Democracy - its limitations and importance. • The new Populist Politics.
Testi di riferimento There is no course textbook. Handouts will be supplied and later published on the student website. One or more of the following are essential background reading: Financial Times, Times, Guardian, Independent, European Voice, Economist , Sole 24 Ore. Any other serious political - economic journal.
Obiettivi formativi The aims of the course are to confront students with a forum of discussion and explore the current issues in world politics and economics. Presented in English, the course will challenge, debate and analyse current political and economic thinking. Students will be required to participate in discussions and will be introduced to the skills of public speaking by making their own presentations in English.
Prerequisiti To follow this course properly, students must have a B2 level of English. Since the objectives of the course are to discuss and scrutinize current world issues all of which are relevant to their other courses, students will need to develop their skills in skimming and scanning articles and be able to synthesize them into making coherent arguments. They will be required to develop their skills in making presentations and answering questions from an audience and to answer questions in a developed and intelligent way.
Metodi didattici The course will be a mixture of teacher - centred lecture/ discussion and student participation with the former being the norm in the first part and the latter in the second part of the course. In the second half, students may be required to give presentations and participate in debate/ discussions.
Modalità di verifica dell'apprendimento • The exam will consist of a 2 hour written paper in which students will be invited to answer any two questions from a list of about 15. All questions will have been about topics covered during the course. The questions will require a full discursive answer presented in good English and developed into a coherent and clear argument. • There will be no oral exam for those students who pass the written part, but those who are borderline will be given the chance of an oral in order to pass. • The exam is ‘ Idoneo ‘ and carries 4 credits. International Certification. This course is judged not only on language ability but also on content and therefore international certification will not exempt anyone from doing the exam and neither will those who have done three months work experience abroad be exempt. The Department positively encourages students to take external examinations (such as the Cambridge exams ,TOEFL and IELTS) for their own value. They play a vital role in a student’s armoury for future job opportunities. Advice and assistance in enrolling and taking these exams is available at any time from me. The relevant exams to students at this level are : B2 – First Certificate of English ( FCE ), Business English Course – Vantage:C1 – Certificate of Advanced English ( CAE ), Business English Course (Higher ).B2/C1 - International Legal English Course (ILEC), International Certificate in Financial English (IFCE). International English Language Testing System (IELTS) and TOEFL.
Course borrowed from AMMINISTRAZIONE, CONTROLLO E PROFESSIONE (1406) - E0315 INGLESE (L.M. I) - NOVARA
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Year Course ID Course Teachers SSD Curriculum Site CFU Agenda web
1 EC0129 BUSINESS INFORMATION MANAGEMENT Candiotto Roberto, Gandini Silvia NN Marketing And Operations Management NOVARA 4 Lessons schedule
1 EC0129 BUSINESS INFORMATION MANAGEMENT Candiotto Roberto, Gandini Silvia NN Risorse Umane NOVARA 4 Lessons schedule
1 EC0149 BUSINESS INTELLIGENCE FOR FINANCE Gambaro Anna Maria NN Finanza NOVARA 4 Lessons schedule
1 EC0125 CONGIUNTURA ITALIANA ED INTERNAZIONALE Carabelli Anna Maria SECS-P/01 Risorse Umane NOVARA 6 Lessons schedule
1 EC0124 CONGIUNTURA ITALIANA ED INTERNAZIONALE ED INTERNATIONAL TRADE Carabelli Anna Maria, Amighini Alessia SECS-P/01, SECS-P/02 Marketing And Operations Management NOVARA 12 Select module
1 EC0128 COST MANAGEMENT AND PERFORMANCE MANAGEMENT Songini Lucrezia, Riva Patrizia, Vola Paola SECS-P/07 Marketing And Operations Management NOVARA 8 Lessons schedule
1 EC0158 DESIGN E COMPORTAMENTO ORGANIZZATIVO Morelli Chiara SECS-P/10 Risorse Umane NOVARA 6 Lessons schedule
1 EC0150 DIRITTO DEI MERCATI FINANZIARI Monteverde Alessandro IUS/04 Finanza NOVARA 6 Lessons schedule
1 EC0163 DIRITTO DEL GOVERNO DELLE IMPRESE Fregonara Elena IUS/04 Risorse Umane NOVARA 6 Lessons schedule
1 EC0159 DIRITTO DEL LAVORO, RELAZIONI INDUSTRIALI E PARI OPPORTUNITA' Santini Fabrizia, Gardella Bianca IUS/07, IUS/02 Risorse Umane NOVARA 8 Select module
1 EC0155 ECONOMIA DEL CAPITALE UMANO Baici Eliana SECS-P/02 Risorse Umane NOVARA 8 Lessons schedule
1 EC0132 ECONOMIA DELL'INNOVAZIONE D'alessandro Michele SECS-P/06 Marketing And Operations Management NOVARA 6 Lessons schedule
1 EA061 ECONOMIA E GESTIONE DELLE IMPRESE AVANZATA SECS-P/08 Management E Risorse Umane 8 Lessons schedule
1 E0213 ECONOMIA E POLITICA MONETARIA SECS-P/01 Finanza 8 Lessons schedule
1 EC0135 FONDAMENTI DI BUSINESS ANALYTICS Fusai Gianluca SECS-S/06 Marketing And Operations Management NOVARA 6 Lessons schedule
1 EC0135 FONDAMENTI DI BUSINESS ANALYTICS Fusai Gianluca SECS-S/06 Risorse Umane NOVARA 6 Lessons schedule
1 EC0156 HR ANALYTICS May Caterina SECS-S/01 Risorse Umane NOVARA 10 Lessons schedule
1 E0315 INGLESE (L.M. I) L-LIN/12 Finanza 4 Lessons schedule
1 E0315 INGLESE (L.M. I) L-LIN/12 Management E Risorse Umane 4 Lessons schedule
1 EC0133 INSURANCE Valletta Mario, Zocchi Paola SECS-P/11 Marketing And Operations Management NOVARA 6 Lessons schedule
1 EC0133 INSURANCE Valletta Mario, Zocchi Paola SECS-P/11 Risorse Umane NOVARA 6 Lessons schedule
1 EC0146 INVESTMENT BANKING Capizzi Vincenzo SECS-P/11 Finanza NOVARA 8 Lessons schedule
1 EC0130 LINGUA INGLESE Irving-bell Colin Stephen L-LIN/12 All NOVARA 4 Lessons schedule
1 EC0127 MANAGERIAL INCENTIVES Menozzi Anna SECS-P/08 Marketing And Operations Management NOVARA 6 Lessons schedule
1 EC0127 MANAGERIAL INCENTIVES Menozzi Anna SECS-P/08 Risorse Umane NOVARA 6 Lessons schedule
1 EC0136 MERCATI EMERGENTI Tadini Marcello M-GGR/02 Risorse Umane NOVARA 6 Lessons schedule
1 EC0121 METHODS OF OPERATIONS MANAGEMENT Gambaro Anna Maria SECS-S/06 Marketing And Operations Management NOVARA 8 Lessons schedule
1 EC0162 ORGANIZZAZIONE E GESTIONE DELLE RISORSE UMANE Morelli Chiara SECS-P/10 Risorse Umane NOVARA 8 Lessons schedule
1 EC0123 PRICE MANAGEMENT Abrate Graziano SECS-P/08 Marketing And Operations Management NOVARA 8 Lessons schedule
1 EC0142 PRICING DI DERIVATI E TEORIA DEL PORTAFOGLIO Longo Giovanni, Centrone Francesca SECS-S/06 Finanza NOVARA 8 Lessons schedule
1 EC0131 SERVITIZATION STRATEGY Songini Lucrezia SECS-P/07 Marketing And Operations Management NOVARA 6 Lessons schedule
1 EC0147 STATISTICA PER LA FINANZA Goia Aldo SECS-S/01 Finanza NOVARA 8 Lessons schedule
1 EC0134 STRATEGIE E POLITICHE D'IMPRESA Maggi Davide, Seddio Pasquale SECS-P/07 Marketing And Operations Management NOVARA 6 Lessons schedule
1 EC0157 STRATEGIE, POLITICHE D'IMPRESA E PEOPLE STRATEGY Maggi Davide, Seddio Pasquale SECS-P/07 Risorse Umane NOVARA 10 Lessons schedule
1 EC0148 TEORIA DELL'INFORMAZIONE ED ECONOMIA E POLITICA MONETARIA Carabelli Anna Maria, Sonedda Daniela SECS-P/01 Finanza NOVARA 14 Lessons schedule
1 EC0122 VALUTAZIONE E STRATEGIE DI INVESTIMENTO Erbetta Fabrizio SECS-P/08 Marketing And Operations Management NOVARA 8 Lessons schedule
1 EC0143 VALUTAZIONI D'AZIENDA E IFRS 3 Comoli Maurizio, Bavagnoli Francesco, Campra Maura SECS-P/07 Finanza NOVARA 10 Select module
2 EC0263 Bank Treasury & ALM Villa Marina NN All NOVARA 2 Lessons schedule
2 EC0264 Blockchain, Bitcoin & Smart Contracts Morini Massimo NN All NOVARA 2 Lessons schedule
2 EC0265 Business Process Reenginering Cantoni Alberto NN All NOVARA 2 Lessons schedule
2 EC0154 CORPORATE FINANCE Tenca Francesca, Lombardi Maurizio Leonardo SECS-P/09 Finanza NOVARA 6 Lessons schedule
2 EC0266 Conoscere il consumatore - Digital Marketing Doninelli Alessandro NN All NOVARA 2 Lessons schedule
2 EC0267 Corporate Governance Veronese Barbara NN All NOVARA 2 Lessons schedule
2 EC0137 DATA AND PREDICTIVE ANALYTICS Goia Aldo, Grampa Andrea Maria Luigi SECS-S/01 Marketing And Operations Management NOVARA 6 Lessons schedule
2 EA049 DIRITTO DEL GOVERNO DELLE IMPRESE IUS/04 Management E Risorse Umane 6 Lessons schedule
2 EC0139 DIRITTO PER IL MARKETING Di Sarli Maria, Gardella Bianca, Serafino Andrea IUS/04, IUS/02 Marketing And Operations Management NOVARA 8 Select module
2 EC0207 ECONOMIA DEL PERSONALE Aina Carmen, Ghinetti Paolo Carlo SECS-P/02, SECS-P/06 Risorse Umane NOVARA 14 Select module
2 EC0168 EMERGING TRENDS IN HUMAN RESOURCE MANAGEMENT Pezza Roberto Massimiliano, Villani Luca SECS-P/10 Risorse Umane 6 Lessons schedule
2 EC0269 Entrepreneurial Finance Scalvini Livio NN All NOVARA 2 Lessons schedule
2 EC0283 Evoluzione dei Sistemi di Valutazione nelle Aziende: Modelli e Casi Pratici Barge Antonio, Savoia Silvio NN All NOVARA 2 Lessons schedule
2 EC0270 Excel, VBA & Access Automation De Luca Fabio NN All NOVARA 2 Lessons schedule
2 EC0152 FINANZA QUANTITATIVA Fusai Gianluca, Kyriakou Ioannis, Gnutti Rita Rosaria SECS-S/06 Finanza NOVARA 10 Lessons schedule
2 EC0271 Finanza delle Imprese di Assicurazione Carlino Stefano NN All NOVARA 2 Lessons schedule
2 EC0022 Finanza quantitativa Fusai Gianluca SECS-S/06 Finanza 8 Lessons schedule
2 EC0272 Fintech Zenti Raffaele NN All NOVARA 2 Lessons schedule
2 EC0165 GOVERNO D'IMPRESA E SISTEMI INFORMATIVI AZIENDALI Riva Patrizia, Candiotto Roberto, Gandini Silvia SECS-P/07, SECS-P/10 Risorse Umane NOVARA 8 Select module
2 EC0273 HR Strategy and Business Strategy Cammarata Maria Luisa NN All NOVARA 2 Lessons schedule
2 EC0274 IFRS9 Socci Cristiano NN All NOVARA 2 Lessons schedule
2 EC0133 INSURANCE Valletta Mario, Zocchi Paola SECS-P/11 Finanza NOVARA 6 Lessons schedule
2 E0169 INTERNATIONAL ECONOMICS SECS-P/01 Finanza 6 Lessons schedule
2 EC0151 INTERNATIONAL MACROECONOMICS Zagler Martin SECS-P/02 Finanza NOVARA 6 Lessons schedule
2 EC0275 Il Megamarketing delle Aziende del Mondo B2B Barberio Massimo NN All NOVARA 2 Lessons schedule
2 E0048 LABOUR ECONOMICS Baici Eliana SECS-P/02 Management E Risorse Umane 8 Lessons schedule
2 EC0197 LEADERSHIP E ASSERTIVITA': UNA COMBINAZIONE VINCENTE Spadafora Diego NN All NOVARA 2 Lessons schedule
2 EC0276 Learning Organization Villa Danillo NN All NOVARA 2 Lessons schedule
2 EA069 MARKETING AVANZATO Menozzi Anna SECS-P/08 Management E Risorse Umane 6 Lessons schedule
2 EC0138 MARKETING STRATEGY AND MARKETING ANALYSIS AND DECISIONS Menozzi Anna, Pera Rebecca SECS-P/08 Marketing And Operations Management NOVARA 12 Lessons schedule
2 EC0136 MERCATI EMERGENTI Tadini Marcello M-GGR/02 Marketing And Operations Management NOVARA 6 Lessons schedule
2 EC0278 Management delle Società Sportive Professionistiche Ferraris Michele NN All NOVARA 2 Lessons schedule
2 EC0021 Mercati emergenti Tadini Marcello M-GGR/02 Management E Risorse Umane 6 Lessons schedule
2 EC0279 Neuroscienze e Comunicazione Zizzadoro Filippo NN All NOVARA 2 Lessons schedule
2 EC0196 PEOPLE & IDEAS Pomponi Aldo NN All NOVARA 2 Lessons schedule
2 EC0153 RISK MANAGEMENT Valletta Mario, Gnutti Rita Rosaria SECS-P/11 Finanza 8 Lessons schedule
2 EC0280 Real Estate Bollea Alberto NN All NOVARA 2 Lessons schedule
2 EC0164 SOCIOLOGIA DEL LAVORO Poy Samuele SPS/09 Risorse Umane NOVARA 6 Lessons schedule
2 EC0282 Strategie Omnichannel Vigano' Marco Luigi Renato NN All NOVARA 2 Lessons schedule
2 EC0023 Tecnica e gestione delle imprese di assicurazione Valletta Mario SECS-P/11 Finanza 6 Lessons schedule
Data synched: 20/02/2020, 01:05