ECONOMIC AND FINANCIAL INVESTMENT ANALYSIS

ECONOMICS ECONOMIC AND FINANCIAL INVESTMENT ANALYSIS

0222210024
DEPARTMENT OF ECONOMICS AND STATISTICS
EQF7
ECONOMICS
2022/2023

OBBLIGATORIO
YEAR OF COURSE 2
YEAR OF DIDACTIC SYSTEM 2018
AUTUMN SEMESTER
CFUHOURSACTIVITY
1VALUTAZIONE ECONOMICA E FINANZIARIA DEGLI INVESTIMENTI MOD. 1
530LESSONS
2VALUTAZIONE ECONOMICA E FINANZIARIA DEGLI INVESTIMENTI MOD. 2
530LESSONS
Objectives
KNOWLEDGE AND UNDERSTANDING

THE COURSE DISCUSSES MODELS OF BENAVIOR OF AGENTS ACTING IN FINANCIAL MARKETS AND FOCUSES ON ASSET PRICING AND MARKET FUNCTIONING.

APPLYING KNOWLEDGE AND UNDERSTANDING

STUDENTS WILL BE ENDOWED WITH CONCEPTUAL AND ANALYTICAL TOOLS TO INTERPRET THE MAIN FINANCIAL PHENOMENONS, TO UNDERSTEND THE ASSET PRICES DETERMINANTS, TO EVALUATE ALTERNATIVE PORTFOLIO STRATEGIES.

MAKING JUDGEMENTS

STUDENTS WILL ACQUIRE THE ABILITY TO CONSTRUCT A CRITICAL EVALUATION OF THE FINANCIAL SYSTEM.

COMMUNICATION SKILLS

STUDENTS WILL BE ABLE TO EXPLAIN THE BEHAVIOUR OF FINANCIAL ACTORS AND ASSET PRICES.

LEARNING SKILLS

STUDENTS WILL BE ABLE TO ANALYZE AND REPRESENT IN A CLEAR WAY NEW FINANCIAL PROBLEMS. THEY WILL BE ALSO ABLE TO DEEPEN THEIR COMPETENCES BY CONSULTING BOOKS AND OTHER FINANCIAL PUBLICATIONS.

Prerequisites
USEFUL: KNOWLEDGE OF ELEMENTS OF MATHEMATICAL ANALYSIS (E.G. DIFFERENTIAL CALCULUS), MICROECONOMICS (E.G. ANALYSIS OF PREFERENCES, MARKET STRUCTURES).
Contents
FIRST PART:
1) INTRODUCTION TO VBA: LANGUAGE AND BASICS
2) NUMERICAL ALGORITHMS AND METHODS
3) QUANTITATIVE FINANCE FOR VBA
4) USER-DEFINED FUNCTIONS IN VBA
5) TYPES AND CYCLES IN VBA
6) SUB(ROUTINES) IN VBA
7) ARRAYS IN VBA
8) OBJECTS AND ADDITIONAL COMPONENTS IN VBA

SECOND PART:
1) ASSESSING FINANCIAL INVESTMENTS: NPV VS. IRR VS. PAYBACK PERIOD
2) COST-BENEFIT ANALYSIS OF PUBLIC POLICIES
3) PRICING BONDS: TIME TO MATURITY (TTM), YIELD TO MATURITY (YTM), DURATION, MODIFIED DURATION
4) RISKY ASSETS: RISK-RETURN TRADEOFF, V-CV MATRIX, ASYMMETRIES AND APPROXIMATION TO NORMAL DISTRIBUTION, DOWNSIDE RISK, VALUE AT RISK
5) RISK DIVERSIFICATION: THE EFFICIENT FRONTIER, MINIMUM VARIANCE PORTFOLIO, SHORTFALL PROBABILITY
6) PRICING OPTIONS
Teaching Methods
LECTURES, SEMINARS, EXERCISE SESSIONS INVOLVING SIMULATIONS OF THE MAIN MODELS UNDER SCRUTINY. OVERALL TEACHING TIME CONSISTS OF 60 HOURS (10 CFUS). IN PARTICULAR, 50 HOURS ARE DEVOTED TO CLASSROOM LECTURES ON ALL THE TOPICS DEALT WITH IN THE COURSE, WHILE 10 HOURS ARE DEVOTED TO SEMINARS AND IN-DEPTH TUTORIALS ON SPECIFIC TOPICS.
Verification of learning
THE EXAMINATION INVOLVES A WRITTEN TEST, CONDITIONAL ON WHICH THE STUDENT MIGHT BE ALLOWED TO UNDERTAKE THE ORAL TEST.
THE 60-MINUTE WRITTEN TEST CONSISTS OF THREE (3) EXERCISES ABOUT THE COURSE'S TOPICS. THE PURPOSE OF THE TEST IS TO VERIFY: THE ABILITY TO UNDERSTAND THE ISSUES EXPLORED IN THE COURSE, THE ABILITY TO PROPERLY APPLY THEORETICAL NOTIONS, THE ABILITY TO FORMULATE THE APPROPRIATE APPROACH TO PROBLEM SOLVING, THE ABILITY TO PROPERLY COMMUNICATE IN WRITING. DURING THE TEST, IT IS STRICTLY FORBIDDEN TO CONSULT TEXTS OR USE PC OR SMARTPHONES; THE USE OF A CALCULATOR IS ALLOWED. STUDENTS WHO GET A SCORE OF AT LEAST 18/30 ARE ADMITTED TO THE ORAL TEST. THE ORAL TEST IS AIMED AT VERIFYING THE LEVEL OF KNOWLEDGE OF THEORETICAL AND APPLIED CONTENT, AS WELL AS THE LEVEL OF COMPETENCE ACHIEVED IN THE EXPOSURE. THE FINAL VOTE IS THE ARITHMETIC MEAN OF THE TWO TESTS. THE MINIMUM VOTE FOR PASSING THE EXAM IS 18/30.
Texts
1) BENNINGA, S., MODELLI FINANZIARI. LA FINANZA CON EXCEL. 2/ED, MCGRAW-HILL, 2010;

2) D'ARCANGELIS, A.M., PATACCHINI, S., BRUNO, F., VBA PER LA FINANZA. 1/ED, APOGEO EDUCATION/MAGGIOLI EDITORE, 2018;

3) LECTURE NOTES.
More Information
UP-TO-DATE NEWS ABOUT THE COURSE IS POSTED ON THE INSTRUCTOR'S WEB-PAGE.
  BETA VERSION Data source ESSE3 [Ultima Sincronizzazione: 2022-11-21]