Student guide Faculty of Economics A.Y. 2010/11

Mathematics for Economics, Finance and Management (annual course)
Aim of the course
Standard Class
Aim of the course: Business management is continually confronted with quantitative and statistical data. Many strategic decisions must be made on the basis of information summarised in the form of graphs, indexes or tables. Financial management and marketing make use of mathematical and statistical formulas that are not always elementary. Likewise, the economic policies under which businesses operate are based on statistical data and macro- and micro-economic models whose mathematical content is continually increasing. The course gives students a command and understanding of the mathematical tools employed in the above-mentioned fields. It also presents the mathematical formulas governing financial markets, which are an essential notion for the prospective employment outlets of three-year degree graduates. Students will additionally develop the ability to correctly draw up and evaluate consumer credit and leasing contracts, to construct amortisation plans and to evaluate fixed-income investments, as examples of financial operations encountered in any professional, entrepreneurial or managerial activity.
The first part of the course, comprising points 1 and 2 of the syllabus, is in common with the honours class. Students must choose between the standard or honours class within 16 February 2009.
Honours class
 
Aim of the course: Business management is continually confronted with quantitative and statistical data. Many strategic decisions must be made on the basis of information summarised in the form of graphs, indexes or tables. Financial management and marketing make use of mathematical and statistical formulas that are not always elementary. Likewise, the economic policies under which businesses operate are based on statistical data and macro- and micro-economic models whose mathematical content is continually increasing. The course gives students a command and understanding of the mathematical tools employed in the above-mentioned fields. It also presents the mathematical formulas governing financial markets, which are an essential notion for the prospective employment outlets of three-year degree graduates. Students will additionally develop the ability to correctly draw up and evaluate consumer credit and leasing contracts, to construct amortisation plans and to evaluate fixed-income investments, as examples of financial operations encountered in any professional, entrepreneurial or managerial activity. Finally, in preparation for the material encountered in the courses on marketing, finance and economic and monetary policy, the mathematical tools required for the three-year degree economics courses will be illustrated.
The first part of the course, corresponding to points 1 and 2 of the syllabus, is in common with the standard class. Students must choose between the standard and honours class within 16 February 2009.
Syllabus
Standard class
1.     General mathematics: The first part of the course provides the introductory elements for understanding the economic/business models common to both three-year degree courses: functions, continuity, differential calculus and optimisation, integral calculus, series. The traditional mathematical fundamentals are illustrated along with some of their most common applications to business and economics Particular emphasis is placed on developing calculation skills and performing tutorial exercises.
2.     Financial mathematics: The second part of the course is devoted to the specific study of financial mathematics, with particular focus on its applications in a business setting. The operations of capitalisation and discounting are presented, along with the financial laws in one and two variables, yields, consumer credit and leasing contracts, the main operations on fixed income securities, and some criteria for evaluating financial operations.
3.      Computation skills: The final lessons will be devoted to improving on the computation skills developed during the course.
 
Honours class
1.     General mathematics: The first part of the course provides the introductory elements for understanding the economic/business models common to both three-year degree courses: functions, continuity, differential calculus and optimisation, integral calculus, series. The traditional mathematical fundamentals are illustrated along with some of their most common applications in business and economics Particular emphasis is placed on developing calculation skills and performing tutorial exercises.
2.     Financial mathematics: The second part of the course is devoted to the specific study of financial mathematics, with particular focus on its applications in business settings. The operations of capitalisation and discounting are presented, along with the financial laws in one and two variables, yields, consumer credit and leasing contracts, the main operations on fixed income securities, and some criteria for evaluating financial operations.
3.      Mathematics for economics: The final part of the course focuses on the topics of linear algebra, as a tool for economic/financial modelling and the resolution of linear systems, and optimisation in multiple variables. The material is put into context by illustrating some of its principal applications in the microeconomics courses.
Examinations
Standard class
They exam consists of a mandatory written test, for which the maximum grade is 28/30 (twenty eight). Students can then further increase their grade by sitting the optional oral exam.
Honours class
The exam consists of a mandatory written test and an optional oral test. Passing the exam earns one extra point for the degree examination.
Reading list
Standard class
They exam consists of a mandatory written test, for which the maximum grade is 28/30 (twenty eight). Students can then further increase their grade by sitting the optional oral exam.
Honours class
The exam consists of a mandatory written test and an optional oral test. Passing the exam earns one extra point for the degree examination.
Reading list
Standard class
Required:           1. L. Peccati, S. Salsa, A. Squillati, Matematica per l’Economia e l’Azienda, III edizione, EGEA, Milano, 2002.
                                 2. E. Castagnoli, L. Peccati, Matematica in Azienda 1 (calcolo finanziario con applicazioni), III edizione, EGEA, Milano, 2002.
Recommended:
                                 4. M. D'Amico, E. Moretto, Matematica Finanziaria (Esercizi), EGEA, Milano, 2004.
                                 5. K. Sydsaeter, P. Hammond, Manuale di matematica per l'analisi economica, Vita e Pensiero università, Milano, 2004.
                                 6. E. Luciano, L. Peccati, Matematica per la gestione finanziaria, Editori Riuniti, Roma, 1997.
                                 7. S. WANER, S.R. COSTENOBLE, Strumenti quantitativi per la gestione aziendale, Apogeo, Milano, 2002.
                                 8. F. MORICONI, Matematica Finanziaria, Il Mulino, 2003.
 
Honours Class
Required:           1. L. Peccati, S. Salsa, A. Squillati, Matematica per l’Economia e l’Azienda, III edizione, EGEA, Milano, 2002.
                                 2. E. Castagnoli, L. Peccati, Matematica in Azienda 1 (calcolo finanziario con applicazioni), III edizione, EGEA, Milano, 2002.
                                 3. E. Castagnoli, M. Cigola, L. Peccati, Matematica in Azienda 2 (complementi di analisi), III edizione, EGEA, Milano, 2006.
Recommended:
                                 4. M. D'Amico, E. Moretto, Matematica Finanziaria (Esercizi), EGEA, Milano, 2004.
                                 5. K. Sydsaeter, P. Hammond, Manuale di matematica per l'analisi economica, Vita e Pensiero università, Milano, 2004.
                                 6. E. Luciano, L. Peccati, Matematica per la gestione finanziaria, Editori Riuniti, Roma, 1997.
                                 7. S. WANER, S.R. COSTENOBLE, Strumenti quantitativi per la gestione aziendale, Apogeo, Milano, 2002.
                                 8. F. MORICONI, Matematica Finanziaria, Il Mulino, 2003.