At the end of the course students will have acquired basic knowledge of financial mathematics and will know how to use spreadsheets and databases, eg, to evaluate basic investments/mortgages/loans (hereafter referred to as basic investments and financial instruments), to analyze and process data on sales/inventories/human resources/production, to support operational decisions. Specifically, students should achieve the following:
1. Knowledge and understanding
- know the terminology and basic concepts of financial mathematics.
- understand the strengths and limitations of mathematical models and of software tools in supporting management decisions.
- know the basic principles of data management and, in particular, of relational database theory and queries.
2. Ability to apply knowledge and understanding
- understand the main aspects of contracts governing basic investments and financial instruments.
- know how to determine the values of different characteristics (eg, installments, interests, returns) of basic investments and financial instruments.
- know how to extract data of interest from a relational database.
3. Making judgements
- be able to critically assess under which circumstances basic investments and financial instruments may yield a good performance.
- be able to assess which data in a database are most valuable to support simple business decisions.
- know how to present, discuss and prove the mathematical correctness and the economic viability of basic investments and financial instruments.
- know how to interact with database designers and managers.
- know how to argue simple business decisions from the quantitative perspective by making use of spreadsheets or of the results of database queries.
5. (Lifelong) learning skills
- be able to critically consult reference books and online material in the fields of financial mathematics and data management to support decisions.