Contribution of the course to the overall degree programme goals
This course belongs to the characteristics teaching activities of the bachlor course "Commercio Estero e Turismo". In line with the educational objectives of the course, this activity aims to present mathematical, financial and computational tools that allow to study decision problems which arise in domestic and international financial markets. To foster engagment and commitment of the students and to encourage active learning, the course will be delivered in blended learning ; standard classes are combined with online activities.
Expected learning outcomes
1. Knowledge and understanding skills.
Attendance and active participation in lectures, online activities, exercise sessions, tutoring activities, together with the individual study will allow the student to acquire the following knowledge and understanding skills:
- acquire the basic vocabulary needed to engage with theoretical and practical problems related to the valuation of debts and financial investments,
- describe the characteristics and the properties of financial intruments (loans, mortgages, annuities, sovereign and corporate bonds, forward and futures) and their markets;
- understand the risk profiles of financial operations with particular reference to bonds and financial operations involving foreign currencies;
- understand the basic references on the usage of derivatives contracts (forward and futures) as hedging instruments.
2. Ability to apply knowledge and understanding.
Through the interaction with the instructors, the tutors, and peers and through the individual study the student acquires the following abilities:
- identify the relevant elements in a financial problem with particular attention to the risk profiles;
- collect and organize data necessary to carry out a financial analysis of the problem
- compare models and financial instruments discussed in the course;
- solve valuation problems.
3. Judgment skills, communication skills, learning skills.
Regarding the autonomy of judgment, communication skills and learning abilities, through the personal and group study of the concepts seen in class, the student will be able:
- with reference to a specific financial problem, to discuss the suitability of a financial instruments, to choose the most convenient alternative, and to choose the appropriate valuation method.
- to formulate rational justifications to the approach used to solve financial problems, understanding their relative strengths and weaknesses, by means of hypotheses, data and models;
- to know how to formulate and communicate an adequate analysis and interpretation of a financial operation/instrument also through the use of mathematical models.
Required exams: Matematica/Mathematics
1. Elements of financial mathematics with emphasis on a cash flow approach: time value of money, present value, future value. Financial regimes: simple interest, compound interest, discount. Equivalent rates, inflation.
2. Foreign currencies and exchange rates. Exchange rate risk and its effects on profitability of financial operations.
3. Annuities, Sinking funds, Mortgages.
4. Fixed income securities, valuation of bonds and elements of term structure of interest rates (spot rates, discount factors, forward rates).
5. Duration and bond portfolio immunization.
6. Evaluation and management of alternative opportunities.
7. Elements of forward and future contracts.
- A. Basso, P. Pianca, Introduzione alla Matematica Finanziaria (III edizione), Wolters Kluwer, 2017
- M. Corazza, L'n-esimo eserciziario di Matematica Finanziaria, Giappichelli, 2017
- D. Luenberger Finanza e investimenti. Fondamenti matematici, Apogeo, 2006
- Further material made available on-line on the course website in moodle.unive.it
Evaluation is based on a final written exam; admission to the final exam is possible only after completing some mandatory online activities.
Quiz (mandatory activity): multiple choice quiz will be made available weekly on the moodle platform; they are intended to verify the acquisition of the contents related to the online activities.
Exercises (optional activities): Sets of exercises proposed on moodle to self-evaluation of the material carried out during the course.
The exam is written and divided into two parts:
Part 1: It aims to verify the basic knowledge of the topics in the course, based on multiple choice quiz.
Part 2: Composed of exercises, it aims to verify the ability to solve specific financial problems.
The exam is evaluated on a 30-point basis. Part 1 allows, if passed, to access to part 2. The final exam is unique and is considered passed with the achievement of 18 total points over 30.
The written exam is closed book, closed notes and electonic devices are not allowed.
The course is delivered in blended learning, that is, with traditional lectures and online activites. In particular, 5 online lessons will be proposed (each corresponding to 2 academic hours) and 10 sessions made by two standard academic hours each. The entire course covers 30 academic hours of teaching. There are also 10 extra hours of exercise sessions and dedicated tutorship activities. Detailed information on the structure of online activities and their scheduling will be made available on the moodle platform (moodle.unive.it) on the online page dedicated to teaching.
In order to carry out online activities (some of which are mandatory), students are required to register for the course on the moodle platform. In case of problems, the student can get in contact with the instructor by mail.
Students are required to register for the course on the moodle platform of the university (moodle.unive.it).
Type of exam
2030 Agenda for Sustainable Development Goals
This subject deals with topics related to the macro-area "Human capital, health, education" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development
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