Economics Finance1718

ECTSCOURSECATALOGUE
ECONOMICSANDFINANCE

20172018

Editedby:
StudentExchangeOffice
VialeRomania,32
00197RomeItaly

Rome,September2017

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TABLEOFCONTENTS
WhatisECTS? 4
EducationinItaly 7
LUISSGuidoCarli 10
IncomingExchangeStudents 14
TheDepartmentofEconomicsandFinance 20
BachelorsDegreeCourseStructure 21
BachelorsDegreeCoursesDescription 24
BachelorsDegreeSummaryTable 54
MastersDegreeCourseStructure 56
MastersDegreeCoursesDescription 61
MastersDegreeSummaryTable 90
UsefulInformationforGuestStudents 91
Allinformationcontainedinthebrochure,whiletrueatthetimeofpublication,issubjecttomodificationandshould
thereforebecheckedappropriately.
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WHATISECTS?

TheEuropeanCommunitypromotesinteruniversitycooperationasameansforimprovingthequalityof
educationtothebenefitofstudentsandhighereducationinstitutionsalike.Studentmobilityconstitutes
a primary feature of that cooperation. The Erasmus + programme clearly demonstrates that a study
periodabroadcanconstituteaparticularlypreciousexperience,notonlybeingthebestwaytodiscover
countries,ideas,languagesandculturesdifferentfromone'sownbutalsobecauseitisgainingagrowing
importanceintheevolutionofuniversityandprofessionalcareers.

ThecreationofasingleEuropeanareainthefieldofeducation,wherestudentsandteacherscanmove
freely without barriers, goes upon the recognition of the studies undertaken and the qualifications
achievedabroad.ForthisreasonECTStheEnglishacronymfortheEuropeanCommunityCourseCredit
TransferSystemwasborn,originallyasamasterplanwithintheframeworkofthepreviousErasmus+
programme, with the aim of promoting academic recognition of studies undertaken abroad. The
EuropeanCommissiondecidedtoincludeECTSintheSocratesprogramme,inparticularwithinSectorI
reservedtohighereducation(Erasmus+),giventheconclusiveeffectivenessoftheECTSsystem.After
thefirststageplannedforalimitedapplication,ECTSisnowbecomingmuchmoremeaningfultothe
extentofbecomingapermanentfeatureoftheEuropeancontextofhighereducation.

ECTSisaboveallpursuingtransparency,establishingtheconditionsnecessarytobringinstitutionscloser
together and broadening the range of choices offered to students. Its application facilitates the
recognitionofstudents'academicresultsthroughtotheuseofwidelyunderstoodstandardscredits
andgradesaswellasabetterunderstandingofthenationalsystemsofhighereducation.

ECTSgoesuponthreebasicelements:

1)Informationonstudyplansandstudentresults,
2)Reciprocalagreement(betweentheparticipatinginstitutionsandthestudent)and
3)TheuseofECTScredits(valuesrepresentingtheworkingloaddonebythestudent).

PRINCIPALFEATURESOFECTS

ECTS is thus founded upon three basic elements: information on study plans and student results,
reciprocalagreement(betweentheparticipatinginstitutionsandthestudent)andtheuseofECTScredits
(values representing the workload done by the student). These three basic elements are effective
throughthreefundamentaldocuments:

1)Theinformationbrochure,
2)Theapplicationform/learningagreementand
3)Thetranscriptofrecords,astothestudiesdone.

ButtheessentialaspectisthatECTSisactivatedbythestudents,theteachersandtheinstitutionswhich
intendtomakestudyingabroadawholepartofthelearningexperience.Indeed,ECTSdoesnot,inany
way,determinethecontents,thestructureortheequivalenceofstudyprogrammes.Thesequalitative
aspects must be decided upon directly by the higher education institutions in the moment of setting,
eitherthroughbilateralormultilateralagreements,thebasisforaviablecooperation.Thecodeofgood
practiceproposedbyECTSofferstheinterestedpartiesthetoolssuitabletopursuetransparencyand
academicrecognition.

Fullacademicrecognitionisasinequanonconditionofstudentmobilitywithintheframeworkofthe
Erasmus+programme.Fullacademicrecognitionrequirestheperiodofstudyabroad(includingexams
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andotherformsofevaluation)toeffectivelysubstituteacomparableperiodofstudy(includingexams
andotherformsofassessment)intheinstitutionoforiginnotwithstandingthefactthattheremaybe
differencesinthecontentsoftheprogramme.
ECTSgoesonvoluntaryuseandreciprocaltrustatacademiclevelamongtheparticipatinginstitutions.
Everyinstitutionchoosesitsownpartners.
TRANSPARENCY
ECTSguaranteestransparencythroughthefollowinginstruments:
ECTScredits,anumericalvalueassignedtoacourseunitwhichrepresenttheworkingloadthata
studentmustundertakeinordertocompleteagivencourseunit.Thecreditsexpressthequantityof
workeverycourseunitrequireswithrespecttotheglobalvolumeofworknecessarytosuccessfully
completeafullyear'sstudyattheinstitution,thatis:lectures,practicalwork,seminars,traineeships,
researchorsurveys,personalstudyeitherathomeorinthelibrarytogetherwithexamsandother
formsofstudentassessment.ECTSis,therefore,basedontheoverallworkingloadofthestudent
andnotmerelylimitedtolecturehours.60creditsrepresenttheworking loadforafullacademic
year'sstudyand,asarule,30creditsareequivalenttoasemesterand20creditstoatrimester.

TheECTSinformationbrochure,whichprovidesusefulinformationtostudentsandpersonnelabout
theinstitutions,departments,courseorganisationandstructureaswellastheindividualcourseunits.

TheECTSlearningagreement,whichdescribesthestudyplanthestudenthastofollowandindicates
the ECTS credits that shall grant upon satisfactory completion thereof. The agreement binds the
studenttoattendthehostuniversity'sprogrammeasthemainpartoftheirhighereducation,the
institutionoforigintoguaranteethestudentfullacademicrecognitionofthecreditsobtainedabroad
and,thehostinstitutiontoprovidetheagreedcourseunitstotheextentallowedbytheacademic
calendar.

TheECTStranscriptofrecords,whichpresentsthestudent'sacademicresultsinaclear,complete
andcomprehensiblemannerforeachpartandwhichmustbeeasilytransferablefromoneinstitution
toanother.
ACADEMICRECOGNITION
To facilitate the academic recognition of the studies undertaken or completed abroad, good
communicationandflexibilityarerequired.InthisregardtheECTScoordinatorscarryoutafundamental
rolemonitoringtheacademicandadministrativeaspectsofECTS.
As a rule, it is necessary to make available to the students the entire range of course units of the
departmentthatimplementsECTS,includingthoseunitsrelatingtopostgraduatestudies.Thestudents
must be able to attend regular courses and not especially set up for them and must be given the
opportunitytosatisfythedemandsofthehostinstitutiongivinganacademicqualification.Relianceon
ECTScreditsguaranteestheorganisationofprogrammes,whicharereasonableintermsofworkingload
fortheperiodofstudyabroad.Forinstance,120ECTScreditsforayearrequireastudenttoworktwice
ashardasanaveragestudentwhoseplanis60credits.Atthesametime,30ECTScreditsforayearperiod
correspondtoaparttimestudying.
ECTS,moreover,allowsstudentstocontinuetheirstudiesabroad.Infact,itcanhappenthatoncethe
original study period is over the student may not wish to return to their original institution but may
insteadprefertoremaininthehostinstitutionpossiblytograduatefromthereormoveontoathird
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institution.Suchdecisionmaynotbetakenwithouttheagreementofallinstitutionsinvolvedwhichin
anycasehavetosettheconditionstofulfilinordertograduatefromthehostinstitutionortransfertoa
third institution. The ECTS certificate is a chronology of the student's academic record and it can
constituteaparticularlyusefulinstrumentfortheinstitutionstomanagesuchadecision.

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EDUCATIONINITALY

Until1989(Law168/1989)theentireItalianeducationalsystemwasundertheMinistryofEducation.At
thattimetheMinistryofUniversitiesandScientificResearchwascreatedtotakeovertheresponsibilities
of university education and scientific and technological research. The two entities are currently
encompassedundertheorganisationaldesignationMinisterodellIstruzione,dellUniversitedellaRicerca
MIUR(MinistryofEducation,UniversityandResearch).Informationforforeignstudentscanbefound
atwww.studyinitaly.it).
PRIMARYANDSECONDARYEDUCATION
Cycles
Following the 2003 Reform of primary and secondary education, the Italian school system has been
reorganisedasfollows:
FirstcyclePrimaryeducation:5yearsofschoolingbeginningatage6;
Secondaryeducation(firstdegree):3yearsofschoolingbeginningatage11.
SecondcycleSecondaryeducation(seconddegree):5yearsofschoolingbeginningatage14.
Thehighersecondaryschoolsareof varioustypes:classical,scientific,linguistic,artistic,technicaland
vocational studies as well as teacher training. At the end of the 5year course, students take the
examination to obtain the Diploma di Maturit in the specialised area they have chosen. This diploma
grantsadmissiontoanItalianuniversity.
GradingSystem
Until1968,secondaryschoolgradingwasonascaleof010,6beingtheminimumpassinggrade.From
1969to1999,finalmarkswereonascaleof060,36beingtheminimumpassinggrade.Since2000a
differentsystemhasbeenimplemented:finalmarksareonascaleof0100andtheminimumpassing
gradeis60.
UNIVERSITYEDUCATION
Admission
AdmissiontoItalianuniversitiesgrantsonlytoholdersofaDiplomadimaturitfromanItaliansecondary
school. Foreign students, or Italian students from secondary schools abroad, are admitted on the
strength of equivalent qualifications. There are no limitations on admission except in Medical School
(medicine,dentistry,veterinary),inprivateindependentuniversities(likeLUISSGuidoCarliorBocconiin
Milan),andinnewlyestablisheduniversities/degreecourses.
GradingSystem
Intheuniversitygradingsystem,individualcoursesgradeonascaleof1830.Themaximumfinalgradeis
110,afterthedissertationofathesisonafreetopic.Forverybrilliantstudentsthedegreemaybeawarded
cumlaude.
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<18= 18/23= 24/26= 27/28= 29/30= 30elode=
fail sufficient satisfactory good Verygood Excellent

AcademicQualificationsandDegrees

UniversityDiploma

This is a firstlevel university qualification for courses lasting 3 years. For admission to these courses,
studentsmusthaveaDiplomadiMaturit.

Laurea(Degree)

ThesystemofuniversitystudyinItalyhasundergoneanoverallreformintermsofstructureandteaching
system.Upto2001,toobtainaLaurea,thebasicuniversitydegree,usedtotake4to6years,depending
onthefieldofstudy.Fromtheacademicyear2001/2002,universitieshaveadoptedthreestudycycles.
Thefirstcycle,threeyearsinlength,ischaracterisedbyaprofessionaltrainingtypecontentandconcludes
withtheawardofafirstleveldegree(LaureaTriennaleBachelorDegree);thesecondcycle,lastingtwo
years,concludeswiththeawardofasecondlevelMastersdegree(LaureaMagistralisMastersDegree);
while the third cycle, lasting from one to three years, leads to the award of either a doctorate or a
specialisedpostgraduatedegree.

Teaching activity is organized in departments, which offer one or more degree courses in specific
academicareas.Courserequirementsareestablishedbylawandthelaureaisobtainedafterthestudent
has passed a set number of exams, gained the required credits, and successfully discussed a written
research paper. Admission to the Laurea programme is regulated by the general rules for university
admission. Courses for masters degrees may also be offered parallel to each study cycle. All study
programmes must be based on the European system for the transfer of academic credits (ECTS) as
providedforinrecentagreementsreachedatEUlevel.
Along with the threecycle program system established by the Italian Ministerial Decrees, a limited
number of old second cycle programs (dental medicine, human medicine, pharmacy, veterinary
medicine,architecture,law)coexistwiththenewuniversitysystem.Theseprograms,calledOneCycle
Programs, aim at providing students with advanced education and training for highly qualified
professions in specific areas. The general access requirement is upper secondary school degree or a
comparable foreign qualification.Admission to individual degree programs may be subject to specific
courserequirements.
OneCycleProgramslastfiveyearsandrequire300credits(EuropeanCreditTransferSystem)for
completion(onlyhumanmedicinerequiressixyearsand360credits).ThedegreeawardedisaMasters
Degreewhichgrantsaccesstocompetitionsforthecivilservice,toregulatedandnonregulated
professions,doctoralprogramsandalltheotherpostgraduatestudydegreeprograms.

ResearchDoctorate

The aim of the doctoral studies programmes is to offer postgraduate opportunity for research.
Programmes include individual research under the guidance of professors and special seminars. The
minimum period of study is three years. This thirdlevel academic degree, Doctorate of Research, is
awardedtocandidateswhohavesuccessfullydocumentedtheirresearchandwrittenanoriginalfinal
thesis.Thisprogrammeisopentoalimitednumberofcandidates(alsofromforeigncountries),whomust
beuniversitygraduatesorholdequivalentdegrees.
PostgraduateDiplomasofSpecialization
Thesediplomasaregivenbyschoolsofferingspecialadvancedcoursesinvariousprofessions.Thelimited
placesarereservedforuniversitygraduatesorthosewithequivalentforeignqualifications.Thecourses
last 2/3 years and include practical experience. Attendance is mandatory. The final examination is a
defenceofawrittenthesis.
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LUISSGUIDOCARLI
NAME
LUISSLiberaUniversitInternazionaledegliStudiSocialiGuidoCarli,Rome,Italy.
EmmaMarcegaglia
President
PaolaSeverino
Rector
GiovanniLoStorto
GeneralManager
TYPE
LUISSGuidoCarliisanindependentuniversity.ItwasestablishedaccordingtoArticle1ofItalysHigher
EducationAct,whichgivesindependentuniversitiesfulllegalstatuswhileguaranteeingtheirautonomy
intheareasofadministration,teachinganddiscipline.Itsdegreesanddiplomashavecompletelegaland
academicrecognition.
GENERALDESCRITPION
LUISSGuidoCarliwassetupin197678byaconsortiumofprivateandpubliccompanies,thatreorganized
a preexisting Institution, Pro Deo. Its goal is to form students to assume the responsibilities of
managingcomplexeconomicsystemsinboththeStateandprivatesectors.
AtpresentLUISSGuidoCarlihasfourdepartments:departmentofEconomicsandFinance,department
ofBusinessandManagement,departmentofLawanddepartmentofPoliticalScience.
CertainfeaturescharacterizeLUISSGuidoCarli:
asetnumberofstudentsforthefourdepartments;
admissionbyentrancetest;
fulltimecompulsoryattendanceofcourses;
ahighlyqualifiedteachingstaff;
intensivestudyofforeignlanguagesandcomputertraining;
a large specialised library and a catalogue that can be consulted directly from the
Universityswebsite;
anextensivenetworkofinternationalexchanges;
orientationforhighschoolstudents;
seminarsanddebatesonimportantissuesasacomplementtolectures;
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assistance by qualified tutors during the entire university study period as well as
traineeships;
personalcounsellingservicetofacilitateintegrationandtooptimisestudystrategies.
Professors and lecturers are appointed from the academic world, the professions, senior State and
privatesectormanagement.LecturesareheldinItalianandEnglish.Theyareintegratedbyseminars,
debates and conferences on both Italian and international topics, often with the participation of
prominentguestspeakers.
TheannualtuitionfeeatLUISSGuidoCarli,forthea.y.2017/2018,is10,000forallBachelorsdegrees
andfortheSingleCycleMasterDegreeinLaw(Iyear).TheannualtuitionfeeforMastersDegreesis
11,000(Iyear).
LUISS supports worthy students with scholarships and financial aid to attend the LUISS bachelor's,
master's and singlecycle master'sdegree programs and to study abroad, thanks to the opportunities
offeredbytheUniversity.Formoreinformationpleasevisit:
http://www.luiss.edu/admissions/scholarshipsandfinancialaid
Scholarships are also granted to deserving students who meet certain income conditions. For more
informationpleasevisit:http://www.luiss.edu/students/universityunion/financialaidandscholarships
LOCATION
SinceOctober2007LUISSGuidoCarlihasmovedtoanewlocationintheresidentialareacalledParioli.
Mostoftheteachingandresearchingactivitiesarenowtakeninthenewcampus.Pleasenotethatclasses
ofLawarestilltakeninViaParenzo,11;Business,EconomicsandPoliticalScienceclassesareinsteadtaken
inthenewseat.Ashuttlebuslinksthe2campusesdepartingevery10/15minutes.Thejourneytakesabout
5/10minutes.
VIALEROMANIA,32
VIAPARENZO,11
VIALEPOLA,12
11
a)Themaincampus(VialeRomania32,00197Rome,tel.:+3906852251)comprises:

I.TheStudentExchangeOffice:tel.:+390685225389/642.
Openinghoursarefrom10a.m.to12a.m.MondaytoFriday,andfrom3p.m.to4p.m.Tuesdaysand
Thursdays.

II. The Department of Economics and Finance: Office and Presidency, tel.: +39068522550, email:
economiaefinanza@luiss.itOpeninghoursarefrom10a.m.to12a.m.Mondays,WednesdaysandFridays,
andfrom2.30p.m.to4.30p.m.TuesdaysandThursdays.
III.TheDepartmentofBusinessandManagement:OfficeandPresidency,tel.:+390685225310,email:
impresaemanagement@luiss.it Opening hours are from 10 a.m. to 12 a.m. Mondays, Wednesdays and
Fridays,andfrom2.30p.m.to4.30p.m.TuesdaysandThursdays.
IV.TheDepartmentofPoliticalScience:OfficeandPresidency,tel.:+390685225290/+390685225700,
fax:0685225702,email:scienzepolitiche@luiss.it.Openinghoursarefrom10a.m.to12a.m.Mondays,
WednesdaysandFridays,andfrom2.30p.m.to4.30p.m.TuesdaysandThursdays.
V. The Student Office Segreteria Studenti: tel.: +390685225263/0685225270,fax: 0685225895, e

mail: segreteria@luiss.it. The Student Office deals with enrolment and supplies students with all the
necessaryinformation.Openinghoursarefrom9.30a.m.to12.30a.m.MondaytoFriday,andfrom2.30
p.m.to4.30p.m.TuesdaysandThursdays.TheStudentOfficeclosestwoweeksinmidAugust.Students
also have computer and multimedia services available through which they can comply with all
bureaucraticrequirementsinconnectionwithuniversitylife.Moreover,thereisthe"LUISSsms"service
allowingstudentstocommunicatewiththeUniversitythroughmessagesthatcanbereadorsenttoany
mobilephone.

VI.TheOrientationOffice:tel.:+390685225354,email:orientamento@luiss.it.TheOfficeisopenfrom
MondaytoFriday.

VII. The IT Services: tel.: +390685225211/+390685225279, fax: +390685225930; Help Desk: tel.:
+39.06.8522.5211,email:helpdesk@luiss.it.TheComputerCentreisasupportstructureforresearchand
teachingactivitiesofComputerSciencesinthefourdepartments.Italsoprovidesconsultingandsupport
servicesfortheothersectorsoftheuniversity(institutes,centres,departmentsandtrainingcourses).To
thisend,thereareelevencomputerroomsandauniversitywidenetworkwhichalsoprovidesalinkto
the outside world via GARR, Internet and Itapac for the consultation of different databases. The
Computer Centre also supports all the administrative activities within the university, as well as
managementactivitiesandlibraryconsultation.

b)TheDepartmentofLaw:ViaParenzo11,00198Rome.TheStudentOfficeislocatedontheGroundFloor
ofthebuilding,tel.:0685225294,fax:0685225826,email:giurisprudenza@luiss.it.Openinghoursare
from10a.m.to12a.m.MondaysthroughFridays,andfrom3p.m.to4p.m.TuesdaysandThursdays.

c)TheLibrary(ViadiSantaCostanza53,00198Rome,tel.:+390685225600;fax:+390685225625;email:
biblioteca@luiss.it) focusesonthesocialsciences,particularlylaw,economicsandpoliticalscience.In
2015,theLibrary'scollectionamountedto99,017books,1,781paperjournals(609ofwhicharecurrent
issues)and83databases.TheLibraryalsoprovidesaccessto43,424ejournalsand53,137ebooks.
Facilitiesavailabletostudentsincludeaconsultationroomandareadingroom,equippedwithterminals
and copy machines. Students may borrow books (loan term: 30 days). The opening hours are the
following:ReadingRoom,fromMondaytoFridayfrom8.00a.m.to9.45p.m./Saturdayfrom8.30a.m.to
1.45p.m.;ReferenceandElectronicResources,fromMondaytoFridayfrom8a.m.to8p.m./Saturdays
from8a.m.to1.45p.m.;DeliveryRoomandCirculationService,fromMondaytoFridayfrom8.30a.m.to
9.00p.m./Saturdayfrom8.30a.m.to1.45p.m.

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SIZE
Currentenrolmentisabout8074forallfourdepartmentswithaprofessor/studentsratioof1:7.
REGISTRATIONPROCEDURES
ProspectivefulltimeEUandnonEUstudents(NotapplicabletoExchangestudents)
ProspectivefulltimeEUandnonEUstudentswillfindspecificanddetailedinformationonthestepsof
theadmissionatLUISSon:www.luiss.edu/admissions.
The number of students admitted to the first year is limited to allow best teaching conditions and
admissiongoesuponanentranceexamination(aptitudetest).
Specificrequirementsforstudentsapplyingforcorsisingoli(individualcourses)(Notapplicableto
Exchangestudents)
ForeignstudentsmayattendoneormoreLUISSGuidoCarlicoursesandtaketherespectiveexams.At
theendofthecourse,studentswillobtainacertificatestatingthecoursethatwastakenandthemark
obtained.
Studentswhowanttoapplyforsinglecourses(CorsiSingoli)mustsubmitthefollowingdocuments:
anapplicationformaddressedtotheProvost,detailingthestudent'sstudyplan
a certificate attesting the educational qualification earned, including exam scores or grades
received(Forforeignstudents,thiscertificatemustbetranslatedandcertifiedbytheappropriate
diplomaticandconsularauthorities.AdegreecertificateisrequiredforLUISSgraduates.)
twophotographs,oneofwhich(foreignstudentsonly)mustbeauthenticatedbytheappropriate
Italian diplomatic and consular authorities, indicating citizenship, residence, and the date and
placeofbirth
a16.00dutystamptobeaffixedtotheapplication
receiptofpayment
Admissionfeeis1.300,00percourseforBachelorandMastersubjects.
TheStudentOfficesegreteria@luiss.ittakescareofregistrationforCorsiSingoli.
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INCOMINGEXCHAGESTUDENTS

The Student Exchange Office deals with orientation and registration of students on exchange
programmes(Erasmus+andBilateralAgreements).

ThefirststeptospendasemesteratLUISSinexchangeistocontacttheInternationalCoordinatorat
yourHomeUniversity.EachsendingInstitutionisresponsiblefortheselectionofstudents.

Ask them for all the information, documents, brochures, application forms related to LUISS. All
informationmaterialcanalsobefoundonourwebsite.Readtheinstructionscarefullybeforeyouapply.
Beawareofourdeadlines

AllapplicationsmustbereceivedbyMay31,thatisthefixeddeadlineforfalland/orspringsemester
applicationseveryyear.

Assoonastheapplicationformsarereceived,inJune,LUISSwillsendincomingstudentsacceptance
lettersandpracticalinformation.

Sincetherearealmost200coursestaughtinEnglish,studentswillnotneedtohaveanyknowledgeof
ItaliantostudyatLUISS.

ACADEMICCALENDAR20162017

FirstSemesterFall

ORIENTATION September72017
(forexchangestudents)
CLASSESBEGIN September112017
CLASSESBEGIN September182017
(onlyLawfirstyearclassesand
bachelorfirstyearclasses)
CLASSESEND December22017
EXAMINATIONPERIOD December4202017
EXAMINATIONPERIOD January8February102018

SecondSemesterSpring

ORIENTATION February82018
(forexchangestudents)
CLASSESBEGIN February122018
CLASSESEND May122018
EXAMINATIONPERIOD May14July42018

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COURSES,EXAMS,TRANSCRIPTSOFRECORDS
ThelanguagesofinstructionareItalianandEnglish.ForthelistofcoursesofferedinEnglishpleasevisit:
http://www.luiss.edu/internationalprograms/erasmusandexchangestudents/coursesenglisherasmus
andexchangestudents.
The standard working load for LUISS students is about 30 credits/semester, including two language
courses.Gueststudentsareadvisednottotakemorethantheaverageworkingload.
Incomingexchangestudentsareallowedtomixcoursesfromanydepartmentbothatbachelor'sand
master'slevel.Onmakingtheirchoiceofcoursesexchangestudentsshouldchecktheprerequisitesand
avoidtimetableclashesforattendanceiscompulsory.
Electivecourseswillbeofferedonlyifasufficientnumberofstudentsregisterforthecourses.Because
notallcourseswillbeoffered,itisrecommendedthatyouenrollinmorethanone.
FullyearcoursescanonlybetakenbythestudentsthatwillspendthewholeacademicyearatLUISS.If
theseconditionsaremet,gueststudentshaveaccesstoallthecoursesinthefourLUISSDepartments.
Thefinalexaminationsforeachcoursecanbeoraland/orwritten.Midtermtestsmaybegivenduring
thecourse.
GueststudentswillhavetoenrollforeachexamfollowingtheinstructionsprovideduponarrivalatLUISS.
Examscanbetakenonlyontheofficialdates.
PleasenotethatNOspecialexaminationcanbearrangedforexchangestudents.
The transcripts of records will be sent to the partner institutions after the end of each examination
session.
To the students who come to LUISS for the whole academic year or for the second semester, the
transcripts will be sent around the end of July. Our summer examination session ends on July 4 and
transcriptscannotbepreparedbeforethesessionisover.
GradingSystem
Individualcoursesaregradedonascaleof1830.Exceptionalstudentsmaybeawarded30cumlaude
(30elode).
Theminimumpassinggradeis18/30.Gradesbelow18areconsideredfailingandarenotregistered.
15
DistributionofGrades

Bachelorlevel

Masterlevel
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COURSESINITALIANLANGUAGEANDCULTURE
LUISS Guido Carli offers free Italian language courses to exchange students interested in learning or
improvingtheirItalianlanguagelevel.
Thecourses,whichareheldduringbothsemesters,haveascheduleofthreehoursperweek(foratotal
of 30 hours/semester). The students who attend the courses and comply with the requirements will
receiveacertificateandgain3ECTScredits.
Thecourseisdividedinthreelevels:beginners,intermediateandadvanced.
BeginnersLevel
ThislevelisforthosewhoneverattendedanItalianlanguagecourse.Themainaimofthecourseisto
help the student understand sentences and frequently used expressions related to areas of most
immediate relevance (e.g. very basic personal and family information, shopping, local geography,
employment).
IntermediateLevel
This level is for those who have already attended an Italian course and are able to communicate in
everydaysituations.
The principal aim of the course is to improve oral communication. Particular emphasis is placed on
listeningcomprehensiontoenablestudentstotakefulladvantageoflecturesintheirchosenfield.
AdvancedLevel
Thislevelisforthosewhoarealreadyproficientinthelanguageandneedtodevelopspecialistlanguage
areas.Themainaimistohelpthestudentreachahighstandardofreadingandwritingskills.
Extracurricularactivities
Theseinclude:
Presentationsfollowedbydiscussion;
MeetingswithItalianbusinessmen;
Guidedtourswithspecializedteachers.
Theactivitiesandmeetingsdeveloptopicsalreadydiscussedinclassandtakeintoaccounttheinterests
ofindividualparticipants.
ThepersonresponsibleforthecoursesisProfessorConcettaAmato(due.tina@gmail.com)
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ACCOMMODATION

Since LUISS does not have student dormitory facilities offered to Exchange Students, the Student
ExchangeOfficedoesnottakedirectresponsibilityinprovidingaccommodation.Aprivateorganisation,
C.T.S.,takescareofitaccordingtotheapplicationformsreceived(byC.T.S.andtheStudentExchange
OfficeofLUISSGuidoCarli)byMay31.

CTSwillsendanofferofaccommodationtostudentsviaemail,whichmustbeconfirmedbythedeadline
given. If the offer is not confirmed, the student will lose the room, which will be assigned to another
person.

HEALTHANDINSURANCE

Students from the EU are entitled to the services of the Italian National Health Service using their
European Health Insurance Card (E.H.I.C.). However, the card does not cover rescue, repatriation and
privatehealthcare.Wesuggesttoverifyhowtogetthecardandwhichservicesarecoveredwiththe
socialsecurityadministrationofyourcountrybeforeyourdeparture
NonEUstudentsarerequiredtosubscribeahealthinsurancecoveringallrisksthatstudentsmightincur
induringthewholeexchangeperiodabroad.
TheUniversitydoctorisavailabletoallLUISSGuidoCarlistudentsonMondays,WednesdaysandFirdays
from3.00p.m.to4.00p.m.andonTuesdaysandThursdaysfrom10.00a.m.to12.00a.m.atViaParenzo
roomT04(tel.:+390685225416;campusservices@luiss.it).
TheUniversityUnionhasalsostartedupapreventivemedicineserviceincollaborationwithappropriately
equippedhospitalcentres.Everystudentisentitledtogeneralcheckups,and,ifnecessary,specialtests.

ADMINISTRATIVEFORMALITIES

ResidencePermitforNonEUStudents

NonEUstudentswhointendtospendsometimeinItalymustrequestapermitofstaynolaterthan8
workingdaysfromtheirarrivalinItaly.

Howtoobtaintheresidencepermitforstudyreasons:

Use the yellow kit which you will find in all postal offices. Carefully fill in the forms, following all the
instructions.Togetherwiththefilledapplication,studentsmustalsobring:

avalidpassport;
aphotocopyofthepassport(inA4format);
aphotocopyofanyotherrequesteddocuments(inA4format).

YouwillthenbegivenareceiptwiththeuserIDandpasswordneededtokeeptrackofthestatusofyour
procedureathttp://www.portaleimmigrazione.it/(clickonAreaRiservataStranieri)andaletterwith
theappointmentdateandtimeatthePoliceStation(Questura)in order to have your fingerprints taken.
18

Bringwithyou:
yourpassport;
theletteryoureceivedinvitingyoutogototheQuestura;
theoriginalcopiesofthedocumentsyoubroughttothePostOffice;
4recentpassportsizephotographs.
RegistrationforEUStudents
ForEUstudentswhoplantostayinItalyforlessthanthreemonths,noformalityisrequested;forperiods
longer than three months, students need to make a vital statistic registration at the municipality, as
Italianscitizensdo.
Studentswillhavetocall06/0606toknowwhichRomanmunicipalitytheybelongto(youjustneedto
telltheaddressofyouraccommodationinRome).
Thisprocedureismandatory,anditrequiresthefollowingdocuments:
PersonalID(orEquivalent);
Acceptanceletter
Health insurance policy covering all risks that students might incur in during the whole exchange
periodabroad;
Proofofeconomicmeansofsubsistence,alsobyselfstatement.

19

THEDEPARTMENTOFECONOMICSANDFINANCE

Director:ProfessorStefanoManzocchi

The aim of the Department of Economics and Finance is to train students who wish to become
entrepreneurs,professionalsandmanagerscapableofoperatinginahighlycompetitivebusinessworld
andmanagingcomplex,rapidlychangingsituations.

BACHELORTHREEYEARDEGREECOURSES(180ECTS)
CorsidiLaureaTriennale

EconomicsandBusiness(inEnglish)

- TrackinFinance
- TrackinEconomics
- TrackinManagement

TheaimofthethreeyearbachelordegreeprograminEconomicsandBusinessistotrainopenminded
graduateswhoareinternationallyfocused.Thecourseprovidessolid,basic,generalpreparationinthe
mostimportanteconomicfieldsandoffersanexcellentintroductiontothefieldsofbusinessandfinance.
Graduates are equipped to work for economic and financial institutions, businesses and public
administrations, in positions commensurate with their threeyear preparation. The program is held
entirelyinEnglish.

MASTERSDEGREETWOYEARDEGREECOURSES(120ECTS)
CorsidiLaureaMagistrale

EconomicsandFinance(EconomiaeFinanzainEnglishandinItalian)

CorporateFinance(inEnglish)

TheacademicprogramforthemastersdegreeinEconomicsandFinanceallowsgraduatestoacquirethe
necessaryexpertiseinmathematicalandstatisticaltoolsaswellastheadvancedknowledgeneededfor
asuccessfulnationalorinternationalcareerintheeconomicandfinancialfield,withspecialemphasison
the role of markets and financial intermediaries. The program is divided into three majors:Banks and
Financial Intermediaries,held in Italian and two taught in English,FinanceandEconomics, the latter
includingthespecializedRoMEprogram.
The degree program in Corporate Finance covers the areas of financial economics, financial
management,businessplanningandvaluation,mergersandacquisitions(M&A),capitalmarkets,asset
pricing,riskmanagementandderivatives.ThestudentsthatwillgraduateinCorporateFinancewillhave
the opportunity to work within finance divisions of large corporations, corporate banking and M&A
divisionsofinvestmentbanks,financialadvisoryandconsultingfirmsandinvestmentfunds.Theprogram
isdividedinto2majors:FinancialManagementandFinancialAdvisoryandInvestmentBanking.
20
BACHELORSDEGREECOURSESTRUCTURE

ECONOMICSANDBUSINESS

FIRSTYEAR
Course ECTS Sem. Language

IntroductiontoBusinessEconomics 8 I EN
PrinciplesofEconomics 8 I EN
Mathematics1 10 I EN
Microeconomics 8 II EN
Accounting 8 II EN
Statistics 8 II EN
PrinciplesofCivilLaw 6 II EN

SECONDYEAR

GamesandStrategies 8 I EN
Mathematics2 8 I EN
Macroeconomics 8 I EN
InformationSystems 6 I EN
AppliedStatisticsandEconometrics 8 II EN
LawandEconomics 10 II EN
Corporatefinance 8 II EN

Attheendofthesecondyear,studentswillchooseoneofthethreetracksgivenbelow.
Duringthesecondsemesterofthethirdyear,studentsmustchoose2coursesamongthe
listofelectivesandothertrackscompulsorycourses.

THIRDYEARTRACKINFINANCE

FinancialMarketsandInstitutions 8 I EN
MathematicalFinance 8 I EN
Moneyandbanking 8 I EN
21
CapitalMarkets 8 II EN
InternationalEconomics 8 II EN

THIRDYEARTRACKINECONOMICS


IOandCompetitionTheory 8 I EN
Moneyandbanking 8 II EN
Economicgrowthanddevelopment 8 II EN

THIRDYEARTRACKINMANAGEMENT


IOandCompetitionTheory 8 I EN
Management 8 I EN
Entrepreneurship,innovationandtechnology 8 II EN

ELECTIVECOURSES


ElementaryProbability 8 I EN
HistoryofEconomicThoughtandPolicies 8 I EN
Anintroductiontoprogramming(python) 8 I EN
Management 8 I EN
Marketing 8 I EN
Mathematicalfinance 8 I EN
Moneyandbanking 8 I EN
Publiceconomics 8 I EN
Theworldeconomysince1870 8 II EN
Capitalmarkets 8 II EN
Economicgrowthanddevelopment 8 II EN
Entrepreneurship,innovationandtechnology 8 II EN

22

ADDITIONALCREDITS
Activity ECTS

CompulsoryLanguage 4
OtherActivities(Languages,traineeship...) 4
Finalexam 4
23
BACHELORSDEGREECOURSESDESCRIPTION

Thecoursesarelistedinalphabeticalorder.Shouldthedescriptionofagivencoursenotbeavailableatthe
time of publication of this brochure and therefore not be included herein, it will be published on the
universitywebsiteinthecattedreonlinesection,whichstudentsareaccordinglyadvisedtocheckfromtime
totime.

ACCOUNTING(8ECTS)
Themainconceptsoffinancialstatement:balancesheet,incomestatement,statementofcashflow.
Thepurposesandtheusersoffinancialstatement.
Thepreparationoffinancialstatement:doubleentrybookkeeping.
FromnetincometoCashFlow:CashFlowstatementpreparationandinterpretation
TheGAAP:InternationalAccountingStandards(IAS/IFRS)andtheirapplication:
TheFramework
IAS1,IAS2,IAS7,IAS16,IAS,38,IAS36.
USGAAPversusIFRS.
ConsolidatedFinancialStatement:anoverview
Code: 978
Major: CoreSubject
CourseYear: 1
Semester: Spring
Hoursofclasses: 72
Languageofinstruction: English
Prerequisites basicsofaccounting
Assessment: Writtenexam
Professors: Raoli
LearningOutcomes: Learnhowtoprepareandreadafinancialstatement.
Learnhowtoapplydifferentaccountingprinciples
Readandcomparedifferentfinancialstatementsofdifferentcompanies
ataninternationallevel
Textbooks: ElisaRaoli,Accounting,CreateMcGrawHillEducation,2016/2017
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/978/A/L21BBBASE/2017

ACCOUNTING(8ECTS)
Themainconceptsoffinancialstatement:balancesheet,incomestatement,statementofcashflow.
Thepurposesandtheusersoffinancialstatement.
Thepreparationoffinancialstatement:doubleentrybookkeeping.
FromnetincometoCashFlow:CashFlowstatementpreparationandinterpretation
TheGAAP:InternationalAccountingStandards(IAS/IFRS)andtheirapplication:
TheFramework
IAS1,IAS2,IAS7,IAS16,IAS,38,IAS36.
USGAAPversusIFRS.
ConsolidatedFinancialStatement:anoverview
Code: 978
Major: CoreSubject
CourseYear: 1
24
Semester: Spring
Hoursofclasses: 72
Prerequisites basicsofaccounting
Professors: Magnanelli
LearningOutcomes: Learnhowtoprepareandreadafinancialstatement.
Learnhowtoapplydifferentaccountingprinciples
Readandcomparedifferentfinancialstatementsofdifferentcompanies
ataninternationallevel
Textbooks: BarbaraSvevaMagnanelli,Accounting,CreateMcGrawHillEducation,2016
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/978/B/L21BBBASE/2017
ANINTRODUCTIONTOPROGRAMMING(PYTHON)(8ECTS)
ElementaryOperationsAndDataTypes
ConditionalsAndControlFlows
Functions
Lists,Dictionaries,AndStrings
Files,Exceptions,AndMemoryManagement
Recursion
Modules,Classes,AndObjects
UsefulLibraries
Complexity
Code: T069
Major: Elective
CourseYear: 3
Semester: Fall
Hoursofclasses: 72
Prerequisites Thestudentneedstoknowhowtouseanoperativesystemtoinstalland
configureapplications.

Moreover, the student needs basic mathematic's concepts: set theory,
calculus,elementarylogic.
Assessment: Homework,groupwork,writtenexamand/ororalexam
Professors: ColiniBaldeschi
LearningOutcomes: The core of this course is the study of the basic concepts of an highlevel
programming language. Those concepts are valid not only for Python but
alsoforanyhighlevelprogramminglanguage.
At the end of the course the student will be able to handle primitive and
advanced data types, simple and nested control flows and conditional
statements,files,exceptionsandmemorymanagement.
Moreover,severallectureswillbedevotedtotheconceptofobjectoriented
programming,wherethestudentwilllearnhowtousemodules,objects,and
classes.
Later, we will focus on some libraries that are particularly useful in the
contextofdatascienceandbigdataanalysis.
Finally,asurveyoverthecomputationalcomplexitytopicwillbeoffered.
Textbooks: PythonProgrammingfortheAbsoluteBeginner,3rdEdition
25
byMichaelDawson

DiveintoPythonbyMarkPilgrim

How to think like a computer scientist: Learning with Python by Jeffrey
Elkner,AllenB.Downey,andChrisMeyers
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/T069/0/L21BBBASE/2017

APPLIEDSTATISTICSANDECONOMETRICS(8ECTS)
Estimationandtestinginlinearmodel;instrumentalvariables,discretechoicemodels,andpaneldata
arethemaintopicscovered
Code: AC3
Major: CoreSubject
CourseYear: 2
Semester: Fall
Hoursofclasses: 72
Prerequisites Statistics
Assessment: Midtermandfinalexams.Weeklyproblemsets.
Weightedaverageofmidterm,finalandproblemsets.
Professors: Lach
LearningOutcomes: Bytheendofthecourse,studentsareexpectedto:
1.understandthestatisticalassumptionsunderlyingregressionanalysis,and
whenthey
areappropriate;
2.beabletounderstand,interpretandevaluatedataanalysisperformedby
others;
3.beabletoconstructbasicforecastingmodels;
4.becomefamiliarwithoneofstatisticalsoftware(RorSTATA).
Textbooks: StockandWatson.IntroductiontoEconometrics,AddisonWesley;3rd
edition(December13,2010)
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/AC3/B/L21BBBASE/2017

APPLIEDSTATISTICSANDECONOMETRICS(8ECTS)
Estimationandtestinginlinearmodel;instrumentalvariables,discretechoicemodels,andpaneldata
arethemaintopicscovered
Code: AC3
Major: CoreSubject
CourseYear: 2
Semester: Fall
Hoursofclasses: 72
Prerequisites Statistics
Assessment: Midtermandfinalexams.Weeklyproblemsets.
Weightedaverageofmidterm,finalandproblemsets.
Professors: Ragusa
LearningOutcomes: Bytheendofthecourse,studentsareexpectedto:
26
1.understandthestatisticalassumptionsunderlyingregressionanalysis,and
whenthey
areappropriate;
2.beabletounderstand,interpretandevaluatedataanalysisperformedby
others;
3.beabletoconstructbasicforecastingmodels;
4.becomefamiliarwithoneofstatisticalsoftware(RorSTATA).
Textbooks: StockandWatson.IntroductiontoEconometrics,AddisonWesley;3rd
edition(December13,2010)
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/AC3/A/L21BBBASE/2017
CAPITALMARKETS(8ECTS)
IntroductiontoFinancialInstrumentsandSecuritiesMarkets
PortfolioTheory
FixedIncomeMarkets
EquityMarkets
DerivativeMarkets
Code: AG7
Major: Finance
CourseYear: 3
Semester: Spring
Hoursofclasses: 72
Prerequisites Microeconomics,Maths,Statistics
Assessment: Studentassessmentwillbeuniquelythroughafinalexam.Thiswillbea
closedbook,writtenexam,withnumericalandessaytypequestions.
Professors: Vitale
LearningOutcomes: Tointroducestudentsinarigorousbutintuitivewaytocoretopicsin
finance.Thecourseintendstodefinefundamentalprinciplesforasset
pricingandshowtheirpracticalimplicationswithinfinancialmarkets.
Thus,thecoursedescribestheroleofinstitutionsandinstrumentsin
financialmarkets,presentsmodernportfoliotheoryandanalyzesthe
characteristicsandpropertiesofthemostimportantclassesoffinancial
assets.
Textbooks: EssentialsofInvestments,Bodie,KaneandMarcus,McGrawHill.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/AG7/0/L21BBBM/2017
CORPORATEFINANCE(8ECTS)
Valuingbondsandcommonstocks;riskandreturn;bestpracticeincapitalbudgeting;financingdecisions
andmarketefficiency;payoutpolicyandmarketefficiency;debtfinancing.
Code: T045
Major: CoreSubject
CourseYear: 2
Semester: Spring
Hoursofclasses: 72
27
Prerequisites Accounting, Mathematics 1 and general principles of Financial
Mathematics
Assessment: Writtentest.
Thereisthepossibilitytoundertakeamidtermexam.Thisexamwould
followthesamemodalitiesofthefinaltest(writtentest).Thescoreofthe
midtermexamwillconcurtothefinalscorewithweight50%,onlyifthe
studentwillpassboththemidtermexamandthefinalexam,which,inthis
case,willcoverareducedprogram.Thefinalexamshouldbetakenduring
thefirstsessionafterthecourse,otherwisethescoreofthemidtermtest
wouldnotbeaccountedfor.
Professors: Guerello
LearningOutcomes: The objective of the course is twofold. On the one hand, it provides
students with the methods a company should follow to decide about
investments.Ontheotherhand,itaimsatteachingthewayfirmsshould
financeinvestments.Attheendofthecourse,studentsshouldbeableto
understand and critically analyze the key events of the financial
managementofafirm.
Textbooks: R.A.Brealey,S.C.MyersandF.Allen,PrinciplesofCorporateFinance,11th
globaledition,McGrawHill
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/T045/B/L21BBBASE/2017

ECONOMICGROWTHANDDEVELOPMENT(8ECTS)
Thecoursepresentsthebasicresearchquestionsintheareaofeconomicgrowthandthendiscusses
recentanswerstothesequestions.Themainissuesareproductivity,technicalchange,humancapital,
populationchange,institutionsandgeography.Intheendthecoursepresentsapplicationstospecific
countries.
Code: AH5
Major: Economics
CourseYear: 3
Semester: Spring
Hoursofclasses: 72
Prerequisites Basicknowledgeofeconomics
Assessment: Homeassignments,finaltest
Professors: Battisti/Iannaccone
LearningOutcomes: Inthelasttwocenturiestheworldexperiencesrapideconomicgrowth,
whichisunprecedentedinhistory.Themainissuesdiscussedinthecourse
areproductivity,technology,humancapital.Thecourseaimstogivethe
tools to analyze and understand the roots of change that brought the
presenteconomiestothecurrentlevelsofwelfare.
Textbooks: EconomicGrowth:InternationalEdition3rd(2012)DavidWeil,Ed.Pearson
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/AH5/0/L21BBBM/2017

ELEMENTARYPROBABILITY(8ECTS)
Eventsandoperationsonevents.
Code: T059
Major: Elective
28
CourseYear: 3
Semester: Fall
Hoursofclasses: 72
Prerequisites Calculusandbasiclinearalgebra.
Assessment: Quizzes,test,questions,homework,finalexam.
Professors: Troiani
LearningOutcomes: Thecourseaimsatintroducingthestudentstotheideaofuncertainty
anditsquantification.Thecoursewillfocusonrelevantconceptsand,
althoughrigorous,itwillnotrequiresophisticatedmathematicaltools.
Thelanguageofgamblingwillbeoftenusedformotivationand
examples.
Textbooks: Stirzaker, D. Elementary Probability 2nd Edition, Cambridge University
Press,2003
ISBN13:9780521534284

Ross,S.AFirstCourseinProbability9thEdition,Pearson,2012
ISBN13:9780321794772

Durrett,R.ElementaryProbabilityforApplications1stEdition
CambridgeUniversityPress,2009
ISBN13:9780521867566
ENTREPRENEURSHIP,INNOVATIONANDTECHNOLOGY(8ECTS)
Topics
Managingthenewproductdevelopmentprocess
Openinnovation
Marketandinnovation:Arejoinder
Strategyandorganizationalissuesoninnovation
Theentrepreneurialprocess
Evaluatingentrepreneurialopportunities
Buildingtheentrepreneurialteam
Raisingfinanceforentrepreneurship
Entrepreneurialgrowthandexit
Code: T001
Major: Management
CourseYear: 3
Semester: Spring
Hoursofclasses: 60
Prerequisites Basicsof:BusinessAdministration,Microeconomics
Assessment: The grade is based on a written exam (50%) and a group presentation
(40%).Activeinvolvementineachclasse.g.attendance,participationto
discussion,andshortpresentationswilladdupto10%ofthefinalgrade.
Professors: Souitaris
LearningOutcomes: The aim of this course is to provide students with theoretical and applied
knowledgeonentrepreneurshipandinnovation.

29
Thekeylearningobjectivesare:
exploringentrepreneurshipasamanageableprocess.
identifyingsources,rate,anddirectionoftechnologicalchange;
understandingtheroleandchallengesofinnovationacrosssectors,
countries,andorganizations;
Textbooks: Notes,casesandpaperswillbeprovided.Nospecifictextbook.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/T001/0/L21BBBM/2017

GAMESANDSTRATEGIES(8ECTS)
Fundamentalsofnoncooperativeandcooperativetheory
Code: T030
Major: CoreSubject
CourseYear: 2
Semester: Spring
Hoursofclasses: 72
Prerequisites Linearalgebraandelementaryprobabilitytheory
Assessment: Activeparticipationtothecourse,midterm,finalexam(bothwritten)
Professors: Cominetti
LearningOutcomes: Tomakethestudentfamiliarwithinteractivedecisiontheory
Textbooks: Maschler,Solan,Zamir:Gametheory
CambridgeUniversityPressISBN9781107005488
Notesoftheteachers
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/T030/A/L21BBBASE/2017

GAMESANDSTRATEGIES(8ECTS)
Basicsofnoncooperativeandcooperativetheory
Code: T030
Major: CoreSubject
CourseYear: 2
Semester: Spring
Hoursofclasses: 72
Prerequisites Linearalgebraandbasicprobabilitytheory
Assessment: Activeparticipationtothecourse,midterm,finalexam(bothwritten)
Professors: Lucchetti
LearningOutcomes: Tomakethestudentfamiliarwithinteractivedecisiontheory
Textbooks: Maschler,Solan,Zamir:Gametheory
CambridgeUniversityPressISBN9781107005488
Notesoftheteachers

30
HISTORYOFECONOMICTHOUGHTANDPOLICY(8ECTS)
I.Introductionandthebeginningsofeconomics;2.Classicaleconomics;3.Againstclassicaleconomics;
4. The marginalist revolution; 5. Neoclassical economics; 6. Heterodox economics; 7. The Keynesian
Revolutionanditsaftermath.
Code: AQ7
Major: Elective
CourseYear: 3
Semester: Fall
Hoursofclasses: 72
Prerequisites Basilarknowledgeofmicroandmacroeconomics.
Assessment: Writtenexamfollowedbyanassociatedoralexam
Professors: Cristiano/Fiorito
LearningOutcomes: The main purpose of the course is to acquaint the student with the
evolutionofeconomicideasandmajortheoriesinthehistoryofeconomic
thought. The evolution of economic thought is traced from the early
Mercantilistschooltothefirsthalfofthe20thcentury,concentratingon
thetwocenturiessincethepublicationofAdamSmithWealthofNations
in 1776. The course will focus on classical economics, the ideas of the
MarginalistRevolution,neoclassicalandinstitutionaleconomics,andthe
KeynesianRevolution.Theseideasandtheorieswillbeexaminedwithin
their original historical, social and political context and they will also be
relatedtothescientific,philosophicalandculturalideasofthetime.The
course will develop an insight into the evolution of economics and will
provide an opportunity for better understanding of the nature of
economicscience.
Textbooks: Fiorito,LucaandAsso,PierFrancesco(2004)HumanNatureandEconomic
Institutions: Instinct Psychology, Behaviorism, and the development of
AmericanInstitutionalism.JournaloftheHistoryofEconomicThought.vol.
26,no.4,pp.445477.

FioritoLuca(2010)JohnRogercommons,WesleyNewcombHohfeldandthe
OriginsofTransactionalEconomics,HistoryofPoliticalEconomy,vol.42,no.
2,pp.26795.

FioritoLuca,andSamuelsWarrenJ.(2006)TheHistoryofEconomicThought
as the History of Error. Research in the History of Economic Thought and
Methodology.vol.24C,pp.49100.

Landreth,HenryandColander,David(2002)HistoryofEconomicThought,
Boston:HoughtonMifflin.

Screpanti,ErnestoandZamagni,Stefano(2005)AnOutlineOfTheHistoryOf
EconomicThought,London:OxfordUniversityPress,chapter7.J.M.Keynes
(1937), The General Theory of Employment, The Quarterly Journal of
Economics,Vol.51,No.2,pp.209223.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/AQ7/0/L21BBBASE/2017
31
INFORMATIONSYSTEMS(6ECTS)
ThecourseisdividedbetweentheoreticallecturesandlaboratoriestounderstandtheOfficepackage.
ThetheoreticalpartwillbefocusedonComputersystems,HWArchitecture,OperatingSystems,
Networks,Databases,ITprojectmanagementprinciples,Informationsecurity,andadvancedtopics.
Code: T068
Major: CoreSubject
CourseYear: 3
Semester: Fall
Hoursofclasses: 48
Prerequisites None
Assessment: Thefinalgradewillbeassignedthroughawrittenand/ororalexam.

Itismandatorytoattendthelaboratorylectures.
Professors: Firmani
LearningOutcomes: Thecourseprovidestothestudentsawideoverviewoverthetheoretical
andpracticaltopicsrelatedtotheinformationsystems.
Amongthetheoreticaltopics:understandhowaninformationsystem
works,theproblemsrelatedtoHW/SW.Howcomputernetworkswork
andwhataretheirfundamentalcomponents.Basicconceptsabout
databases.HowinformationsystemsapplytoBigData.Information
Security.
Moreover,thiscourseprovidestheunderstandingofthemany
complexitiesofmanagingtechnologyintodaysorganizations.Youwill
learntothinkcriticallyabouthowinformationsystemsaretransforming
businessandhowtheyimpactyourdaytodaylifeandcareer.
Thefocusoftheclasswillbetointeractivelydiscusscontemporarytopics
ofinformationsystems.Themethodologywillincludelecture,inclass
exercise,groupdiscussion,minicasestudies,andgroupproject.
Amongthepracticaltopics:thestudentswillbeabletousetheOffice
suite.
Textbooks: LaudonandLaudon,EssentialsofMIS11/E,Pearson

InformationSystemsfundamentals,
GianluigiMeandPaoloSpagnoletti,
McGrawHillCreate

Thecoursewillbesplitintwomainparts:Computersystemsandnetworksasthetheoreticalpartand
Office tools training as Laboratory part. The former part will be focused on Computer systems, with
Operating systems concepts and application software basics, databases, big data, cloud services,
Internetapplicationsbusinessmodels,includingGoogleasasuccesscase.Thenetworkpartwillinclude
communications and networks basics,focusing on Internet basic services offered by the Internet
Protocol Stack. Finally, an introduction to computer and network security, to answer to common
questions,suchas"howtoprotectinformation/communication?","Whatisavirus?AndhowcanIprotect
myselffromvirusesandmalware?","WhicharethemostpopularattackstoInternetusers?Howtobe
safe?".
32
ThelatterpartwilldelivertheabilitytouseOfficeAutomationtools(Wordprocessing,spreadsheets,
presentations),vialabclasses.
Code: T046
Major: CoreSubject
CourseYear: 2
Semester: Fall
Hoursofclasses: 48
Prerequisites n.a.
Assessment: Labtest:fail/pass
Theoryexam(written):fail/pass
Professors: Me
LearningOutcomes: The course is focused on the fundamental topics of the Information
Systemsanddigitaltechnologies,asComputersystems,Communications
and Networks, Databases, and Information security. In particular, the
courseobjectivesaretwofold:
Theoretical aspects, including the main components of communication
networks,withspecificdrilldownonInternetanditsrelatedservices(e.g.
Web,email,DNSetc)andbusinessmodels(e.g.B2B,B2Cetc),presenting
relevanttechnologyandmarketmodelofGoogle.Moreover,thecourse
willinvestigatetheuseandroleinorganizationsofdatabases,ofthebig
datafusionandthedriversforcloudservicesadoption.Finally,thecourse
will include essentials in computer and network security, in order to
understandthethreatsincomputerusageandInternetsurfing.
Practical capacity, through the use of Office automation tools in
laboratory.
Textbooks: Title:InformationSystemsfundamentals
By:GianluigiMeandPaoloSpagnoletti
Publisher:McGrawHillCreate
Pub.Date:July,2011
ISBN13:9781121232853.
Furtherreadingswillbeavailableontheelearningplatformofthecourse.
RoleofInformationSystemsinOrganizations;Hardwareandsoftware;Databases,networksandclouds;
Ecommerce;Computersecurity;
Code: T067
Major: CoreSubject
CourseYear: 3
Semester: Fall
Hoursofclasses: 48
Prerequisites None
Assessment: Written(70%)andoralexamination(30%)
Professors: Castiglione
LearningOutcomes: In the Internet era, where information can be exchanged via multiple
carriers and applications, Information Systems (IS) are at the heart of
33
almosteverybusinessinteraction,processanddecision.Hence,managers
andentrepreneursunderestimatingtheISvaluewithintheorganisational
system,risktodropparticipationordefinitivelymissimportantdecisions.
Based on these considerations, a basic knowledge of what a computer
system is represents a fundamental building block for students in
economics and business: all of them will interact daily with enterprise
IS/InformationTechnologies(IT),somewillevenmanageISdepartments
or IT companies, facing the complexity of decisions to be taken in this
quicklyevolvingareawithgreattechnicalandeconomicalpotentialities.
Forthesereasons,thecourseisfocusedonthefundamentaltopicsofthe
InformationSystems,asComputerSystems,ComputingComponentsand
Architecture, Operating Systems, Communications and Networks,
Databases, and Information security, including Appendices needed to
refinebasicpillarsofthecourse.
Textbooks: FundamentalsofInformationSystems(9thedition).RalphStair,George
Reynolds. Course Technology; 9 edition (March 6, 2017) ISBN13: 978
1337097536
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/T067/0/L21BBBN/2017

Thecoursewillbesplitintwomainparts:Computersystemsandnetworksasthetheoreticalpartand
Office tools training as Laboratory part. The former part will be focused on Computer systems, with
Operating systems concepts and application software basics, databases, big data, cloud services,
Internetapplicationsbusinessmodels,includingGoogleasasuccesscase.Thenetworkpartwillinclude
communications and networks basics,focusing on Internet basic services offered by the Internet
Protocol Stack. Finally, an introduction to computer and network security, to answer to common
questions,suchas"howtoprotectinformation/communication?","Whatisavirus?AndhowcanIprotect
myselffromvirusesandmalware?","WhicharethemostpopularattackstoInternetusers?Howtobe
safe?".
ThelatterpartwilldelivertheabilitytouseOfficeAutomationtools(Wordprocessing,spreadsheets,
presentations),vialabclasses.
Code: T046
Major: CoreSubject
CourseYear: 2
Semester: Fall
Hoursofclasses: 48
Prerequisites n.a.
Assessment: Labtest:fail/pass
Theoryexam(written):fail/pass
Professors: Regoli
LearningOutcomes: The course is focused on the fundamental topics of the Information
Systemsanddigitaltechnologies,asComputersystems,Communications
and Networks, Databases, and Information security. In particular, the
courseobjectivesaretwofold:
Theoretical aspects, including the main components of communication
networks,withspecificdrilldownonInternetanditsrelatedservices(e.g.
Web,email,DNSetc)andbusinessmodels(e.g.B2B,B2Cetc),presenting
relevanttechnologyandmarketmodelofGoogle.Moreover,thecourse
34
willinvestigatetheuseandroleinorganizationsofdatabases,ofthebig
datafusionandthedriversforcloudservicesadoption.Finally,thecourse
will include essentials in computer and network security, in order to
understandthethreatsincomputerusageandInternetsurfing.
Practical capacity, through the use of Office automation tools in
laboratory.
Textbooks: Title:InformationSystemsfundamentals
By:GianluigiMeandPaoloSpagnoletti
Publisher:McGrawHillCreate
Pub.Date:July,2011
ISBN13:9781121232853.
Furtherreadingswillbeavailableontheelearningplatformofthecourse.
INTERNATIONALECONOMICS(8ECTS)
Introductiontothetheoryofinternationaltrade:factsandmodels.OpeneconomyMacroeconomics
Code: AA7
Major: CoreSubject
CourseYear: 3
Semester: Spring
Hoursofclasses: 72
Prerequisites Microeconomics
Macroeconomics
Professors: JonaLasinio
LearningOutcomes: The course provides students theoretical and empirical instruments to
understandthecurrentphaseofeconomicglobalization
Textbooks: Paul Krugman,Maurice Obstfeld,Marc MelitzInternational Economics:
TheoryandPolicy,GlobalEdition10thEdition,2014
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/AA7/A/L21BBBASE/2017
INTERNATIONALECONOMICS(8ECTS)
Introductiontothetheoryofinternational
Code: AA7
Major: CoreSubject
CourseYear: 3
Semester: Spring
Hoursofclasses: 72
Macroeconomics
Assessment: Lecturesbyinstructors,reviewsessions
Professors: Manzocchi
LearningOutcomes: Provide conceptual instruments needed to understand the current
globalizationphase
Textbooks: InternationalEconomics:GlobalEdition(9e):9780273754091
35
I'dliketorequestaninspectioncopy
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/AA7/B/L21BBBASE/2017

INTRODUCTIONTOBUSINESSECONOMICS(8ECTS)
Module1:Thefirmsanditsenvironment
Introductiontothecourse.Economicsandmanagementasasocialscience.
Whatisafirm?Theboundariesofthefirmanddefinitionofindustrialsectors
Understandingexternalenvironment:microandmacroenvironment;Porters5forces
Theoryofthefirm:resources,capabilitiesandcompetitiveness

Module2:CorporateandBusinessStrategies
Approachtostrategy:whatisastrategy?;corporateandbusinessstrategies
Businessstrategies:the5genericstrategies
Corporatestrategies:diversification,integration,andindustrialdistricts

Module3:TheinternalstructureoftheFirm
Entrepreneurshipandsmallfirms
Organizationandorganizationaldesign
Innovationmanagement
Marketingandnewproduct/servicelaunch

Module4:FinanceandAccountability
IntroductiontobusinessinformationandBusinessManagementCycle
FinancingActivities;PurchasingofproductionfactorsandSales
Sources/ResourcesTable
BalanceSheetandIncomeStatement
Code: 857
Major: CoreSubject
CourseYear: 1
Semester: Fall
Hoursofclasses: 72
Prerequisites
Assessment: Thegradeisbasedonawrittenexam.

Theexamwillbestructuredasfollows:
Multiplechoicequestions
Open questions: students are asked to write a short paragraph on a
topic.
Exercisesonhowtorecordbusinesstransactions
Professors: Ceci
LearningOutcomes: Theaimofthiscourseistoprovidestudentswiththeoreticalandapplied
knowledgeonbusinessandgeneralmanagement.

Thecourseexaminesthemainstrategicandoperationalactivitiesofthe
firm.Itaimstoprovide(a)aframeworkofthestrategicbusiness
activitiesthroughtheanalysisofalternativestrategicpaths;(b)the
analyticaltoolsusedtounderstandthecharacteristicsandtheevolution
ofindustrialsectors;(c)abasicknowledgeofthefinancialstatementand
theaccountingprocess.
36

Duringthecourse,traditionallectureswillbeintegratedbyinnovative
teachingapproachessuchascasesdiscussion,managersseminarand
businessgame.

Keylearningobjectives
Demonstrateanunderstandingofandfamiliaritywiththeworldof
businessanditsterminology.
Identifyanddefinethefirmscompetitiveenvironment
Acquireknowledgeandtoolstounderstandhowtodesignand
implementabusinessstrategies
Describetheresponsibilitiesandsignificanceofthemain
organizationalfunction
Explainthebasicaccountingprocessandinterpretthethreeprimary
financialstatements.
Textbooks: Essentials of Strategic Management: The Quest for Competitive
Advantage,FifthEditionbyGamble,Peteraf,Thompson,2017;chapters2
34568
Strategic Management of Technological Innovation, Fifth Edition by
Schilling,2017;Chapter3
M:Business,FifthEditionbyFerrell,Hirt,Ferrell,2017;Chapter15712
Financial Accounting, Fourth Edition by Spiceland, Thomas, Herrmann,
2016;Chapters123
INTRODUCTIONTOBUSINESSECONOMICS(8ECTS)
Module1:Thefirmsanditsenvironment
Introductiontothecourse.Economicsandmanagementasasocialscience.
Whatisafirm?Theboundariesofthefirmanddefinitionofindustrialsectors
Understandingexternalenvironment:microandmacroenvironment;Porters5forces
Theoryofthefirm:resources,capabilitiesandcompetitiveness

Module2:CorporateandBusinessStrategies
Approachtostrategy:whatisastrategy?;corporateandbusinessstrategies
Businessstrategies:the5genericstrategies
Corporatestrategies:diversification,integration,andindustrialdistricts

Module3:TheinternalstructureoftheFirm
Entrepreneurshipandsmallfirms
Organizationandorganizationaldesign
Innovationmanagement
Marketingandnewproduct/servicelaunch

Module4:FinanceandAccountability
IntroductiontobusinessinformationandBusinessManagementCycle
FinancingActivities;PurchasingofproductionfactorsandSales
Sources/ResourcesTable
BalanceSheetandIncomeStatement
Code: 857
Major: CoreSubject
37
CourseYear: 1
Semester: Fall
Hoursofclasses: 72
Prerequisites None
Assessment: Thegradeisbasedonawrittenexam.

Theexamwillbestructuredasfollows:
Multiplechoicequestions
Open questions: students are asked to write a short paragraph on a
topic.
Exercisesonhowtorecordbusinesstransactions
Professors: Masciarelli
LearningOutcomes: Theaimofthiscourseistoprovidestudentswiththeoreticalandapplied
knowledgeonbusinessandgeneralmanagement.

Thecourseexaminesthemainstrategicandoperationalactivitiesofthe
firm.Itaimstoprovide(a)aframeworkofthestrategicbusiness
activitiesthroughtheanalysisofalternativestrategicpaths;(b)the
analyticaltoolsusedtounderstandthecharacteristicsandtheevolution
ofindustrialsectors;(c)abasicknowledgeofthefinancialstatementand
theaccountingprocess.

Duringthecourse,traditionallectureswillbeintegratedbyinnovative
teachingapproachessuchascasesdiscussion,managersseminarand
businessgame.

Keylearningobjectives
Demonstrateanunderstandingofandfamiliaritywiththeworldof
businessanditsterminology.
Identifyanddefinethefirmscompetitiveenvironment
Acquireknowledgeandtoolstounderstandhowtodesignand
implementabusinessstrategies
Describetheresponsibilitiesandsignificanceofthemain
organizationalfunction
Explainthebasicaccountingprocessandinterpretthethreeprimary
financialstatements.
Textbooks: Essentials of Strategic Management: The Quest for Competitive
Advantage,FifthEditionbyGamble,Peteraf,Thompson,2017;chapters2
34568
Strategic Management of Technological Innovation, Fifth Edition by
Schilling,2017;Chapter3
M:Business,FifthEditionbyFerrell,Hirt,Ferrell,2017;Chapter15712
Financial Accounting, Fourth Edition by Spiceland, Thomas, Herrmann,
2016;Chapters123

38
LAWANDECONOMICS
(CORPORATEANDBUSINESSLAW;ANTITRUSTANDREGULATION)(10ECTS)
WithreferencetoItaly,UnitedKingdomandUSAcontentsare:mainrulesofbusinessandcompanylaw
addressedunderafunctionalapproachbydealingwithlegalaswellaseconomicprinciples.Inparticular:
sole proprietorships as organizations; partnerships; companies limited by shares (private and public
companies); agency problems and governance structures in companies; directors' duties and liability;
protection of minority shareholders; relatedparty transactions. Rules as well as case law will be
examined.
Code: T021
Major: CoreSubject
CourseYear: 2
Semester: Spring
Hoursofclasses: 78
Prerequisites Basicprinciplesofprivateandcivillaw.
Assessment: Computerbasedwrittenexam
Professors: BresciaMorra/Bruno
LearningOutcomes: Theformativeobjectiveofthecourseistoteachfundamentalsofbusiness
andcompanylawfromaninternationalperspectivebyfocusingonItalian,
UKandUSjurisdictions.
Textbooks: Klein,Coffee,Partnoy,BusinessOrganizationandFinance,FoundationPress,
2010(Chapters1,2,3).
Kraakman,Armour,Davies,Enriques,Hansmann,Hertig,Hopt,Kanda,Rock,
The Anatomy of Corporate Law. A comparative and Functional Approach
Oxford University Press, 2017. Cases and materials on professors'
homepages.
LAWANDECONOMICS
(CORPORATEANDBUSINESSLAW;ANTITRUSTANDREGULATION)(10ECTS)
WithreferencetoItaly,EU,USAcontentsare:mainrulesofbusinessandcompanylawaddressedunder
afunctionalapproachbydealingwithlegalaswellaseconomicprinciples,alsolookingattheinteractions
betweenpublicandprivatelaw.Rulesaswellascaselawwillbeexamined.
Code: T021
Major: CoreSubject
CourseYear: 2
Semester: Spring
Hoursofclasses: 78
Prerequisites Basicprinciplesofprivateandpubliclaw.
Assessment: Computerbasedwrittenexam
Professors: Segni
LearningOutcomes: Theformativeobjectiveofthecourseistoteachfundamentalsofbusiness
andcompanylawfromaninternationalperspectivebyfocusingonItalian,
EU and US Laws and looking at the interactions between public and
privatelaw.
Textbooks: Casesandmaterialsonprofessors'homepages.
39
MACROECONOMICS(8ECTS)
IntroductionDefiningthemacroeconomicsvariables.TheShortRun,theMediumRunandtheLongRun
PARTITheShortRun:Thegoodsmarket,thefinancialmarketsandtheISLMmodel.Fiscalandmonetary
policiesintheshortrun.Theopeneconomy:Theinterestrateparity.TheMundellFlemingmodel.
PARTIITheMediumRun:Thelabourmarketandthenaturalrateofunemployment.TheASADmodel:
inflation,productionandmoneygrowth.Fiscalandmonetarypoliciesinthemediumrun
PARTIIITheLongRun:Saving,capitalaccumulationandgrowth.Theroleoftechnologicalprogress.
Thefactsofgrowth:capitalaccumulationvs.technologicalprogress
Code: 977
Major: CoreSubject
CourseYear: 2
Semester: Fall
Hoursofclasses: 72
Prerequisites MicroeconomicPrinciples
Assessment: Writtenexam&problemsetshandedinduringthecourse.
Theexamisbasedonthetopicscoveredduringthelecturesandclasses,
the chapters of the textbook and the supplementary readings assigned
duringthecourse
Professors: Vallanti
LearningOutcomes: Thiscourseaimstoprovidethemethodologicalandtheoreticaltoolsto
understandhowtheeconomiesworkandtoexplainthepastandcurrent
economicdevelopments. Wewillfocusonthestylisedfactsofbusiness
cycle fluctuations and economic growth, the determinants of
unemployment and inflation. We will also discuss whether and to what
extentpolicycanimprovemacroeconomicperformance.
Textbooks: Blanchard, O. Giavazzi F & Ameghini A., Macroeconomics: A European
Perspective2/E, Pearson, 2013 supplemented by other reading selected by
thelecturerandmadeavailableonthecoursewebpage.
http://docenti.luiss.it/vallanti/macroeconomics20162017/

MACROECONOMICS(8ECTS)
Introductiontomacroeconomics,definition,measurementanddataanalysis.Production,thefactorsof
production.Thedeterminantsofconsumptionandinvestment.Theequilibriumwithfullemploymentand
theeffectsofeconomicpolicies.Currency,thepricelevelandinflation.Theopeneconomy,theexchange
rate.Theoriesofunemployment.Economicgrowth.Economicfluctuationsandpricestickiness.Theshort
runequilibrium(withunemployment)andeconomicpolicies.Theopeneconomyintheshorttermand
economicpoliciesinthedifferentregimesoftheexchangerate
Code: 977
Major: CoreSubject
CourseYear: 2
Semester: Fall
Hoursofclasses: 72
Assessment: Writtenexamination.
Gradingwillbebasedonafinalwrittenexam.Theexamisbasedonthe
topics covered during the lectures and classes and the chapters of the
40
textbook.Theaveragescoreobtainedintheproblemsetswillbeadded
tothegradeobtainedinthefinalexamtakenineithertheDecemberor
Januarysession.Thestudentwhofailsordoesnotacceptthegradeofthe
examcannotusetheextrapointsagain.Thestudentwhodoesnotturnin
the exam in the December session can still use the extra points in the
Januarysession.Inordertobeevaluated,thestudentmustsubmitatleast
7 out of 9 problem sets and the midterm mock exam. If the student
submitsmorethan7problemsets,thegradingwillbebasedonthebest
7.Ifthestudentsubmitslessthan7problemsets,themissingoneswillbe
valued0points.
Professors: Lippi
LearningOutcomes: Thiscourseaimstoprovidethemethodologicalandtheoreticaltoolsto
understandthebehaviorofthemajormacroeconomicvariables,suchas
GDPgrowth,businesscyclesandinflation,andtoexplainpastandcurrent
economicdevelopments. Wewillfocusonthestylisedfactsofbusiness
cycle fluctuations and economic growth, the determinants of
unemployment and inflation. We will also discuss whether and to what
extentpolicycanimprovemacroeconomicperformance.
Textbooks: Mankiw,G.,Macroeconomics,ninthedition,MacmillanEducationImprint
MANAGEMENT(8ECTS)
Thecourseisstructuredinthreemainsections.Inthefirstsection,studentswillunderstandtheneed
forastrategicorientationtoachievehigherlevelsoffirmperformance.Inthesecondsection,the
coursewilldeepentheunderstandingofhoweachmanagerialfunction(Organisation,Marketing,
InnovationManagement,Operations,andFinance)contributestothevaluecreation.Finally,inthe
thirdsection,financialevaluationmethodsaccountingforthevalueofstrategiesareintroducedand
employed.
Attheendofthecourse,studentswillacquiretheabilitytointegratedifferentdimensionsofaproblem
andtoapplybothlogicandjudgmentinanalyzingsituations.Throughoutthecourse,studentsdevelop
theanalysisofcasestudiesrelatingtoprominentcompaniesfacingthechallengeofcompetitive
markets.
Code: T012
Major: Management
CourseYear: 3
Semester: Fall
Hoursofclasses: 60
Prerequisites None
Assessment: Evaluation
Studentswillbeevaluatedonthebasisof:
threeintermediateworkseachaccountingfor30%
afinalexamaccountingfortheremaining70%
IntermediateWorks
Students will need to work in groups of 3 people (the composition is
nonchangeable over the course). If you cant work in groups please
contacttheprofessortobeauthorizedtoworkalone.
Eachstudent/groupofstudentswillneedtochooseafirmtoworkon.
Thefirmisnonchangeableoverthecourse.Allfirmsaresuitable,asthe
41
topicsoftheassignmentareverygeneralandcaneasilybeadaptedtoall
cases.
Eachassignmentmustbeofmin.3pagesandmax5pages,writtenin
Times new roman 12pt. The topics and deadlines for the three
assignmentsare:
IndustryanalysistobehandledonmidofOctober
BusinessStrategyAnalysistobehandledonmidofNovember
AnalysisofaManagerialFunctiontobehandledonthelastdayofclass.
Theassignmentshavetobesentat.
FinalExam
Thewrittenexamiscompulsoryforallthestudents.
Themarkofthewrittenexamaccountsfor70%ofyourevaluation,30%is
representedbytheaverageofthethreeintermediateworks.
Professors: Vicentini
LearningOutcomes: Aimofthecourse
TheobjectiveoftheManagementcourseistoanalysethemostrelevant
issuesandchallengesfacedbygeneralmanagersthatarecriticalforthe
shortterm survival and longterm development of the firm. For this
purpose,thecourseattemptstoprovideparticipantswithanexposureto
thechallengesofmanagingstrategicallyandtothecomplexityassociated
withgeneralmanagementresponsibilities.
Textbooks: Dess,Strategicmanagement:textandcases,,7thEdition,McGrawHillto
becinfirmed.

MARKETING(8ECTS)
1. Marketing, the marketing concept and the marketing process; 2. Consumer Buying Behavior; 3.
Marketing Strategy and the Marketing Mix (product, price, distribution, communication) ; 4)
Applications/exercises
Code: 980
Major: Elective
CourseYear: 3
Semester: Fall
Hoursofclasses: 60
Prerequisites Basicknowledgeineconomicsandmanagementandstatistics
Assessment: groupprojectandpresentation(40%);writtenexamination(60%)
Professors: Marcati
LearningOutcomes: Theprimaryorientationofthiscourseismanagerial:coverageofthefieldis
applied and from the perspective of the individual manager or the firm
engagedinbusinessorganization.
Thecoursewillintroduceandprovidestudentswithbasictools(concepts,
modelsandtechniques)tomanagemarketingactivities.Itisintendedto
developstudents'skillsinmarketinganalysisandplanning.
Textbooks: Armstrong,G.,andPh.Kotler,Marketing:Anintroduction,Pearson,2014
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/980/0/L21BBBM/2017

42
MATHEMATICALFINANCE(8ECTS)
Fundamental concepts and techniques: time value of money, term structure and main interest rate
derivatives.Financialmarkets:portfoliotheory,optionpricingandhedging.
Code: AQ5
Major: Finance
CourseYear: 3
Semester: Fall
Hoursofclasses: 72
Prerequisites Mathematics one and two, Statistics. No prerequisite in Finance is
required.
Assessment: Classparticipation,midtermexam,finalexam.
Professors: Biagini
LearningOutcomes: ProvidekeynotionsandanalysistoolsofmodernMathematicalFinance.
Textbooks: 1)InvestmentScience,DavidG.Luenberger.OxfordUniversitypress.
2) An Introduction to the Mathematics of Money: Saving and Investing
(TextsinAppliedMathematics),DavidLovelockMarilouMendelArthur
L.Wright.Springer2007.
3)Options,futuresandotherderivatives.J.Hull,Pearson
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/AQ5/0/L21BBBM/2017
MATHEMATICS1(10ECTS)
Anintroductiontoonesinglevariablecalculusandlinearalgebra,withmanyapplicationsineconomics.
Code: T027
Major: CoreSubject
CourseYear: 1
Semester: Fall
Hoursofclasses: 90
Prerequisites Basicalgebra,firstandseconddegreeequationsandinequalities,rational
equationsandinequalities,firstandseconddegreesystemsofequations
and inequalities, equations and inequalities involving logarithms and
exponentials.
Students are strongly advised to attend the preliminary courses which
takeplaceinSeptember.
Assessment: Writtentests
Professors: Dall'Aglio
LearningOutcomes: The course provides the students with the basic tools needed in
economics, management, finance and insurance. Students get also
acquaintedwithsettingupandsolvingmathematicalproblems,withthe
aid of many examples. By the end of the course, students must
successfullytackleandsolvenontrivialmathematicalexercises,together
with a clear unnderstanding of the most important theoretical results
discussedinthecourse.
Textbooks: (C)JamesStewart,CalculusEarlyTrascendentals,Brooks/Cole
(LA1)DavidC.Lay,LinearAlgebraanditsapplications,Pearson
(LA2)LawrenceE.Spence,ArnoldJInsel,StephenHFriedberg,Elementary
LinearAlgebra2ndedition,Pearson
43
Otherfreelyavailableonlinematerialandrecommendedreadingsposted
onthecourse'swebpage

MATHEMATICS1(10ECTS)
Anintroductiontoonesinglevariablecalculusandlinearalgebra,withmanyapplicationsineconomics.
Code: T027
Major: CoreSubject
CourseYear: 1
Semester: Fall
Hoursofclasses: 90
Prerequisites Basicalgebra,firstandseconddegreeequationsandinequalities,rational
equationsandinequalities,firstandseconddegreesystemsofequations
and inequalities, equations and inequalities involving logarithms and
exponentials.
Students are strongly advised to attend the preliminary courses which
takeplaceinSeptember.
Assessment: Writtentests
Professors: Antonelli
LearningOutcomes: The course provides the students with the basic tools needed in
economics, management, finance and insurance. Students get also
acquaintedwithsettingupandsolvingmathematicalproblems,withthe
aid of many examples. By the end of the course, students must
successfullytackleandsolvenontrivialmathematicalexercises,together
with a clear understanding of the most important theoretical results
discussedinthecourse.
Textbooks: (C)JamesStewart,CalculusEarlyTrascendentals,Brooks/Cole
(LA1)DavidC.Lay,LinearAlgebraanditsapplications,Pearson

Otherfreelyavailableonlinematerialandrecommendedreadingsposted
onthecourse'swebpage

MATHEMATICS2(8ECTS)
VectorSpacesandSubspaces
Basis,EigenvaluesandEigenvectors
DiagonalizationOrthogonalityandQuadraticForms,Curves,GeometryofSpaceandVectorFunctions,
PartialDerivatives,InfiniteSequencesandSeries,DifferentialEquations
Code: 976
Major: CoreSubject
CourseYear: 2
Semester: Fall
Hoursofclasses: 72
Prerequisites Calculus
44
Assessment: Homeworks,MidtermandWrittenFinalExam.
Professors: Papi
LearningOutcomes: Providethestudentswiththebasicsoflinearalgebraandcalculusfor
functionsofmultiplevariables
Textbooks: 1)D.C.Lay,"LinearAlgebraandItsApplications",AddisonWesley,Fourth
Edition.
2) J. Stewart, "Calculus, Early Transcendentals", Brooks/Cole, Seventh
Edition.
MATHEMATICS2(8ECTS)
VectorSpacesandSubspaces,Orthogonality,Curves,GeometryofSpaceandVectorFunctions,Partial
Derivatives,MultipleIntegrals,InfiniteSequencesandSeries.
Code: 976
Major: CoreSubject
CourseYear: 2
Semester: Fall
Hoursofclasses: 72
Prerequisites CalculusandsomelinearalgebraastaughtinMathematics1.
Assessment: MidtermsandWrittenFinalExam.
Professors: Isopi
LearningOutcomes: Workingknowledgeoflinearalgebraandmultivariablecalculus.
Textbooks: 1) D.C. Lay, "Linear Algebra and Its Applications", AddisonWesley, Fifth
Edition.
2) J. Stewart, "Calculus, Early Transcendentals", Brooks/Cole, Seventh
Edition.
MICROECONOMICS(8ECTS)
Preferences and consumers choice: budget constraint, utility function, indifference curves; utility
maximization and individual demand functions; income effect and substitution effect; optimal choice
withincomeexpressedinformofgoodendowments;demandelasticity;demandandsupplyequilibrium.
Intertemporalchoice:thediscountedutilitymodel.
Choiceunderuncertainty:theexpectedutilitymodel;attitudetowardsrisk.
Thefirmandtechnology:productionfunction,marginalandaverageproduct;isoquantsandisocosts;
returns to scale; revenue curves, cost curves in short and long run: profit maximization, cost
minimization,factordemands.
Marketstructure:perfectcompetition,monopolyandoligopoly(Bertrand,CournotandStackelberg)
Introduction to game theory: simultaneous and sequential games, dominant strategies, Nash
equilibrium,subgameperfectNashequilibrium.
Generalequilibrium:EdgeworthboxandParetoefficiencyunderdifferentmarketstructures,firstand
secondwelfaretheorems.
Externalitiesandpublicgoods.
Code: 974
Major: CoreSubject
CourseYear: 1
45
Semester: Spring
Hoursofclasses: 72
Prerequisites ElementarynotionsofAlgebraandCalculus.
Assessment: Theexamisa90minutestestcomposedofacombinationoftheoretical
questionsandexercises.
Professors: Panaccione
LearningOutcomes: The goal of this course is the one of providing students with the tools
necessarytounderstandindividualconsumptionandproductionchoices
under different institutional setups and under both certainty and
uncertainty. During the course we will analyze the functioning of the
marketanditsallocativeproperties.Thisknowledgeconstitutesthebasic
frameworknecessarytocontinuestudyingeconomics.Moreover,ithelps
thestudentinanalyzingeconomicphenomenainordertobuildupan
informedandpersonalopinionofeconomicreality.
Textbooks: D.BesankoandR.Braeutigam,Microeconomics(latestedition),Wiley

MICROECONOMICS(8ECTS)
Preferences and consumers choice: budget constraint, utility function, indifference curves; utility
maximization and individual demand functions; income effect and substitution effect; optimal choice
withincomeexpressedinformofgoodendowments;demandelasticity;demandsupplyequilibrium
Intertemporalchoice:thediscountedutilitymodel.
Choiceunderuncertainty:theexpectedutilitymodel;attitudetowardsrisk.
Thefirmandtechnology:productionfunction,marginalandaverageproduct;isoquantsandisocosts;
returns to scale; revenue curves, cost curves in short and long run: profit maximization, cost
minimization,factordemands.
Marketstructure:perfectcompetition,monopolyandoligopoly(Bertrand,CournotandStackelberg)
Introduction to game theory: simultaneous and sequential games, dominant strategies, Nash
equilibrium,subgameperfectNashequilibrium.
Generalequilibrium:EdgeworthboxandParetoefficiencyunderdifferentmarketstructures,firstand
secondwelfaretheorems.
Externalitiesandpublicgoods
Code: 974
Major: CoreSubject
CourseYear: 1
Semester: Spring
Hoursofclasses: 72
Prerequisites ElementarynotionsofAlgebraandCalculus.
Assessment: Theexamisa90minutestestcomposedofacombinationoftheoretical
questionsandexercises.
Professors: Giordani
LearningOutcomes: The goal of this course is the one of providing students with the tools
necessarytounderstandindividualconsumptionandproductionchoices
under different institutional setups and under both certainty and
uncertainty. During the course we will analyze the functioning of the
marketanditsallocativeproperties.Thisknowledgeconstitutesthebasic
46
frameworknecessarytocontinuestudyingeconomics.Moreover,ithelps
thestudentinanalyzingeconomicphenomenainordertobuildupan
informedandpersonalopinionofeconomicreality.
Textbooks: HalVarian,IntermediateMicroeconomics,Norton&Company,8thEdition
MONEYANDBANKING(8ECTS)
1)Fundamentalsofmoney,creditandbanking.
2)Interestratesandassetprices.
3)ExchangeratesandtheFOREXmartet,Interestparityconditions.
4)Themonetaryandfinancialsystem(domesticandinternational).
5)Themoneysupplyprocess.
6)Bankingactivityandprinciplesofbankingregulation;
7)Monetarytheory:fundamentals.
8)Money,banksandtheeconomy:theISMPIAmodel.
9)Money,banksandtheeconomy:theBernankeBlinderModel.
10)Monetarypolicytheory:basicnotions.
11)TheEuropeanCentralBankandtheUSFederalReserve.
12)Themonetarypolicytransmissionmechanism.
Code: AA8
Major: Finance,Economics
CourseYear: 3
Semester: Fall
Hoursofclasses: 72
Prerequisites Introductorymicroeconomics,introductorymacroeconomics.
Assessment: Classattendance(10%offinalgrade),Partialassessmenttests(40%offinal
grade),Finalexam(50%offinalgrade).

Partial assessment tests and final exam consist of exercises and open
questions.
Professors: Paesani
LearningOutcomes: This course focuses on the activities of banks, as providers of money and
credit, and on the linkages between banks, financial markets and the real
economyinaglobaleconomiccontext.Thecourseconsistsofthreeparts.
Part1addressesthefundamentalsofmoney,credit,banking,assetpricing
and exchange rates and discusses the monetary and financial system
(domesticandinternational).Part2exploresthemoneysupplyprocessand
investigatesissuesinmonetarytheoryincludingtheoriesofmoneydemand
and theories about the relationship between money, credit and overall
economicactivity.Part3focusesonmonetarypolicyandthemonetarypolicy
transmission mechanism with specific attention to the European Central
Bank.

Thecoursecombinesatraditionaldidacticapproachwithastrong
emphasisoncasestudiesandtheanalysisofmonetaryandfinancialdata.
Themaingoalofthecourseistoenablestudentstounderstandhow
banks,financialmarketsandmonetarypolicyaffecteconomicactivityin
aglobaleconomiccontext.Attheendofthecoursestudentsshouldbe
abletounderstanddocumentsdiscussingmonetaryandfinancialissues.
47
Textbooks: Mandatoryreference

FinancialMarketsandInstitutions
AEuropeanPerspective3rdEdition
JakobdeHaan,SanderOosterloo,DirkSchoenmaker
August2015

Mishkin,F.(2012)TheEconomicsofMoney,BankingandFinancialMarkets,
10thedition,PearsonEducation

EuropeanCentralBank,(2011)TheMonetaryPolicyoftheECB,3rdedition,
ECB

Additionalreference

HandaJ.(2009)MonetaryEconomics,2ndedition,Routledge

Valdez S., and Molyneux P. (2010) An Introduction to Global Financial
Markets,6thedition,PalgraveMacMillan

ECBannualandmonthlybulletins,

BISpublications,

Qualityfinancialpress(theEconomist,theFinancialTimes)

At the beginning of each week, the instructor will indicate the reading
materialcoveringthelecturesoftheweek.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/AA8/0/L21BBBM/2017

PRINCIPLESOFCIVILLAW(6ECTS)
SeeObjectivesabove.
Code: 858
Major: CoreSubject
CourseYear: 1
Semester: Spring
Hoursofclasses: 48
Prerequisites None.
Assessment: Midterm30%;
Oralexam60%;
Individual / Group works executed during the course and active
participationduringtheclass10%.
Professors: Tassone
LearningOutcomes: The course offers an introduction to the Italian legal system and to the
othersystemsbelongingtothesocalledCivilLawFamily,withspecial
regardtoprivatelawissues.Itaimstoallowstudentstobecomefamiliar
withthefundamentalcategoriesandprinciplesofthesaidareaoflawina
Europeanperspective,developingatthesametimeaproperknowledge
48
of legal terminology, so as to enable participants to cope with an
internationalcontext.
Textbooks: 1) G. Iudica e P. Zatti, Language and Rules of Italian Private Law: An
Introduction,latested.,Cedam.
2)J.S.LenaandU.Mattei(eds.),IntroductiontoItalianLaw,Kluwer,2002.
Thechaptersrequiredfortheexamwillbeindicatedonline.
PRINCIPLESOFCIVILLAW(6ECTS)
SeeObjectivesabove.
Code: 858
Major: CoreSubject
CourseYear: 1
Semester: Spring
Hoursofclasses: 48
Prerequisites None.
Assessment: wittentest
Professors: DiCiommo
LearningOutcomes: The course offers an introduction to the Italian legal system and to the
othersystemsbelongingtothesocalledCivilLawFamily,withspecial
regardtoprivatelawissues.Itaimstoallowstudentstobecomefamiliar
withthefundamental
categoriesandprinciplesofthesaidareaoflawinaEuropeanperspective,
developingatthesametimeaproperknowledgeoflegalterminology,so
astoenableparticipantstocopewithaninternationalcontext.
Textbooks: 1) G. Iudica e P. Zatti, Language and Rules of Italian Private Law: An
Introduction,
latested.,Cedam.
2)J.S.LenaandU.Mattei(eds.),IntroductiontoItalianLaw,Kluwer,2002.
Thechaptersrequiredfortheexamwillbeindicatedonline.
PRINCIPLESOFECONOMICS(8ECTS)
SupplyandDemandI:HowMarketsWork
SupplyandDemandII:MarketsandWelfare
TheEconomicsofPublicSector
FirmBehaviorandtheOrganizationofIndustry
TheEconomicsofLaborMarkets
TheTheoryofConsumerChoice
TheDataofMacroeconomics
Code: 859
Major: CoreSubject
CourseYear: 1
Semester: Fall
Hoursofclasses: 72
49
Prerequisites None
Assessment: WrittenExam
Professors: Sobbrio
LearningOutcomes: Thecourseaimsatintroducingthefundamentalsofeconomictheory.
Textbooks: Economics,byN.GregoryMankiw,MarkP.Taylor,CengageLearning,2014
edition
(http://edu.cengage.co.uk/catalogue/product.aspx?isbn=1408093790)

PRINCIPLESOFECONOMICS(8ECTS)
Demandandsupply
Consumptiontheory
Production
Markettheory
Publicintervention
Labormarket
Growthandincomedistribution
Inflation
Unemployment
Moneyandbanking
Code: 859
Major: CoreSubject
CourseYear: 1
Semester: Fall
Hoursofclasses: 72
Prerequisites None
Professors: Spallone
LearningOutcomes: Thecourseaimsatintroducingthefundamentalsofeconomictheory.
Textbooks: N.G.Mankiw,PrinciplesofEconomics,7thed.,

PUBLICECONOMICS(8ECTS)
Measuringthesizeofthepublicsector.Fundamentalsofwelfareeconomics.Incomeinequalities.
Code: T029
Major: Elective
CourseYear: 3
Semester: Fall
Hoursofclasses: 72
Professors: Albano/Brancati/Ferrante/Meliciani
LearningOutcomes: Theaimofthecourseistoanalysetheroleofthepublicsectorinthe
economy.Thecoursewillexplorethereasonsbehindgovernment
50
intervention,thedesignoftaxationandpublicexpenditurepolicies,
publicdeficitsanddebt.Particularattentionwillbedevotedtothetrade
offbetweenefficiencyandequityandtoincomeinequalities.Case
studiesandreferencestorealworldprogramsandpoliciesarean
importantpartofthecourseensuringthatstudentsunderstandthe
policyapplicationsofwhattheylearn.
Textbooks: EconomicsofthePublicSector,FourthEdition,StiglitzandRosengard,
Norton.

Professor'sslides.

Surveypapers.
STATISTICS(8ECTS)
Basic ideas in statistics: data collection, presentation, summary statistics and plots. Basic probability.
Statisticalmodels,andproababilitybasedstatisticalinference:estimationandtestinghypotheses.
Code: 854
Major: CoreSubject
CourseYear: 1
Semester: Spring
Hoursofclasses: 72
Prerequisites StudentstakeonesemesterofMathpriortotakingthiscourse.
Assessment: Homeworks:30%
Finalwrittenexam70%
Professors: Brutti
LearningOutcomes: Basic understanding of data collection, presentation and analysis, and
someprobability.
Textbooks: Textbook:Statistics:TheArtandScienceofLearningfromData,IVed.(2017).
AgrestiandFranklin.Pearson.
STATISTICS(8ECTS)
[informationforthea.y.20172018notyetavailable]
Basic ideas in statistics: data collection, presentation, summary statistics and plots. Basic probability.
Statisticalmodels,andproababilitybasedstatisticalinference:estimationandtestinghypotheses.
Code: 854
Major: CoreSubject
CourseYear: 1
Semester: Spring
Hoursofclasses: 72
Prerequisites StudentstakeonesemesterofMathprior
totakingthiscourse.
Assessment: Weeklyquizzes:20%
Finalwrittentest80%
51
Professors: Liseo
LearningOutcomes: Basic understanding of data collection, presentation and analysis, and
someprobability.
Textbooks: Textbook:SheldonM.RossIntroductoryStatistics,thirdedition(2010)
Academicpress.

THEWORLDECONOMYSINCE1870(8ECTS)
Weshalldiscusstheconditionsthatfavoredopenversusclosedeconomiesandthepoliticaleconomy
thereof, productivity growth, financial institutions, international monetary systems, poverty, income
distribution,convergence(anddivergence)amongindividualeconomies.
Theanalyticalframeworkwillbedrawnfromthetheoriesofgrowth,internationaltradeandpolicy.
Code: T070
Major: Elective
CourseYear: 3
Semester: Spring
Hoursofclasses: 72
Prerequisites Principlesofeconomics
Assessment: SummerExamSession:Thefinalgradeisbasedona)midtermessay(1
2000words):(30%ofthefinalgrade),b)finalwrittenexaminationcovering
boththeassignedreadingsandmaterialcoveredinclass(60%ofthefinal
grade),c)classroomparticipationandpresentations(10%).

Other Exam Sessions: written and oral examination covering both the
assignedreadingsandthematerialcoveredinclass(100%ofthegrade).
Professors: Toniolo
LearningOutcomes: The course is an introduction to the evolution of the international
economyfromthesecondindustrialrevolutiontothepresent(withan
eyetothefuture).
Textbooks: A)TEXTBOOKS

FEINSTEINC.,TEMINP.,TONIOLOG.(2008),TheWorldeconomybetween
thewars,Oxford,OxfordU.P.(TEXTBOOK)

FINDLAY R. and OROURKE K. (2007), Power and Plenty, Princeton NJ,
PrincetonU.P.

B)ESSENTIALREADINGS

BROADBERRYS.AccountingfortheGreatDivergence,mimeo2015

EICHENGREEN B. (1996), Globalizing Capital. A History of the International
MonetarySystem,Princeton,PrincetonU.P.

EICHENGREEN,B,(2015)Secularstagnation:thelongview,NBERWorking
Paper20836,Cambridge,Mass2015
FRIEDEN J. (2006), Will Global Capitalism fall Again?, Bruegel Essay and
LectureSeries
52
KUZNETS S. (1966), Modern economic growth: rate, structure and spread,
NewHaven,YaleU.P.

MCKINSEYGLOBALINSTITUTE(2016),DigitalGlobalization:Theneweraof
globalflows,March

WORLDBANK(2016),DigitalDividend,Washington2016
53

BACHELORSDEGREESUMMARYTABLEOFCOURSES

COURSE PROFESSOR SEM. LANG. ECTS
ACCOUNTING RAOLI Spring EN 8
ACCOUNTING MAGNANELLI Spring EN 8
ANINTRODUCTIONTOPROGRAMMING(PYTHON) COLINIBALDESCHI Fall EN 8
ANALISIEPOLITICHEPERLOSVILUPPOSOSTENIBILE GIOVANNINI Fall IT 4
APPLIEDSTATISTICSANDECONOMETRICS LACH Fall EN 8
APPLIEDSTATISTICSANDECONOMETRICS POZZI Fall EN 8
CAPITALMARKETS VITALE Spring EN 8
COMPETITIONLAWANDANTITRUSTREGULATION FAELLA Fall EN 4
CORPORATEFINANCE GUERELLO Spring EN 8
CORPORATEFINANCE ZANNINI Spring EN 8
ECONOMICGROWTHANDDEVELOPMENT BATTISTI Spring EN 8
ELEMENTARYPROBABILITY TROIANI Fall EN 8
ENTREPRENEURSHIP,INNOVATIONANDTECHNOLOGY SOUITARIS Spring EN 8
GAMESANDSTRATEGIES COMINETTI Spring EN 8
GAMESANDSTRATEGIES LUCCHETTI Spring EN 8
HISTORYOFECONOMICTHOUGHTANDPOLICY FIORITO Fall EN 8
INFORMATIONSYSTEMS ME Fall EN 6
INFORMATIONSYSTEMS FIRMANI Fall EN 6
INFORMATIONSYSTEMS CASTIGLIONE Fall EN 6
INFORMATIONSYSTEMS REGOLI Fall EN 6
INTERNATIONALECONOMICS MANZOCCHI Spring EN 8
INTERNATIONALECONOMICS JONALASINIO Spring EN 8
INTRODUCTIONTOBUSINESSECONOMICS MASCIARELLI Fall EN 8
INTRODUCTIONTOBUSINESSECONOMICS CECI Fall EN 8
INTRODUCTIONTOEXCELANDDATACOMPUTATION SCALIATOMBA Spring EN 4
LAWANDECONOMICS(CORPORATEANDBUSINESS
Spring
LAW;ANTITRUSTANDREGULATION) BRUNO EN 10
LAWANDECONOMICS(CORPORATEANDBUSINESS
Spring
LAW;ANTITRUSTANDREGULATION) SEGNI EN 10
MACROECONOMICS LIPPI Fall EN 8
MACROECONOMICS VALLANTI Fall EN 8
MANAGEMENT VICENTINI Fall EN 8
MARKETING MARCATI Fall EN 8
MATHEMATICALFINANCE BIAGINI Fall EN 8
MATHEMATICS1 ANTONELLI Fall EN 10
MATHEMATICS1 DALL'AGLIO Fall EN 10
MATHEMATICS2 ISOPI Fall EN 8
MATHEMATICS2 PAPI Fall EN 8
MICROECONOMICS GIORDANI Spring EN 8
MICROECONOMICS PANACCIONE Spring EN 8
MONEYANDBANKING PAESANI Fall EN 8
PRINCIPLESOFCIVILLAW DICIOMMO Spring EN 6
PRINCIPLESOFCIVILLAW TASSONE Spring EN 6
PRINCIPLESOFECONOMICS SPALLONE Fall EN 8
PRINCIPLESOFECONOMICS SOBBRIO Fall EN 8
PUBLICECONOMICS MELICIANI Fall EN 8
54
STATISTICS LISEO Spring EN 8
STATISTICS BRUTTI Spring EN 8
THEWORLDECONOMYSINCE1870 TONIOLO Spring EN 8
55

MASTERSDEGREECOURSESTRUCTURE

ECONOMICSANDFINANCE
MAJORINFINANCE

FIRSTYEAR


MathematicalMethodsforEconomicsand
8 I EN
Finance
Probability 8 I EN
AssetPricing 8 I EN
InternationalFinance 8 I EN
EconometricTheory 10 II EN
AdvancedCorporateFinance 8 II EN
AssetManagement 8 II EN
MarketLawandRegulation 8 II EN

SECONDYEAR


EmpiricalFinance 8 I EN

Electivecourses(2amongthefollowing) ECTS Sem. Language

RiskManagementandCompliance 6 I EN
MachineLearningMethodsforFinance 6 I EN
InternationalTradeandCommercialPolicies 6 I EN
ComputationalToolsforFinance 6 I EN
RealEstateFinance 6 I EN
ExperimentalandBehaviouralEconomics 6 I EN
M&AandInvestmentBanking 6 I EN
InternationalFinancialReportingStandards 6 I EN

Electivecourse(1amongthefollowing) ECTS Sem. Language

EquityMarkets&AlternativeInvestments 6 I EN
FixedIncome,CreditandDerivatives 6 I EN

56
MAJORINECONOMICS
FIRSTYEAR

MicroeconomicAnalysis 8 I EN
Mathematicalmethodsforeconomicsand
8 I EN
Finance
MathematicalStatistics 8 I EN
MacroeconomicAnalysis 8 II EN
MarketLawandRegulation 8 II EN
EconometricTheory 10 II EN

SECONDYEAR

AssetPricing 8 I EN




AdvancedMacroeconomics 6 I EN
AppliedMacroeconomics 6 I EN
AppliedMicroeconomics 6 I EN
Experimental&BehavioralEcononomics 6 I EN
AssetManagement 6 I EN
InternationalFinance 6 I EN
57
MAJORINBANKSANDFINANCIALINTERMEDIARIES

FIRSTYEAR


DirittodeiMercatiedegliIntermediari

Finanziaricorsoprogredito
8 I IT
AdvancedIntermediationandFinancialMarkets
Law
MetodiMatematiciperEconomiaeFinanza
MathematicalMethodsforEconomicsAnd 8 I IT
Finance
Teoriaegestionedelportafoglio
8 I IT
Theoryandportfoliomanagement
Probabiliteapplicazioniallafinanza
8 I IT
ProbabilityandApplicationstoFinance
TeoriaePoliticaMonetaria
8 II IT
MonetaryTheoryAndPolicy
EconomiadellIncertezzaedellInformazione
8 II IT
Economics,UncertaintyandInformation
EconomiadelMercatoMobiliare
8 II IT
EconomicsandSecuritiesMarkets
EconometriaperlaFinanza
10 II IT
EconometricsforFinance

SECONDYEAR


FinanzaAziendaleAvanzato
8 I IT
AdvancedCorporateFinance
EconomiaeGestionedegliIntermediari
Finanziari
6 I IT
EconomicsandManagementofFinancial
Intermediaries


FinancialandCreditDerivatives 6 I EN
StochasticProcesses 6 I EN
58



ADDITIONALCREDITS
Activity ECTS

Otheractivities(internship,foreignlanguage,
12
etc.including4obligatorycreditsforMATLAB)
Finalexam 16
59
CORPORATEFINANCE

FIRSTYEAR


FinancialStatementAnalysis 8 I EN
CasesinBusinessLaw 6 I EN
CorporateGovernance 6 I EN
QuantitativeMethodsforFinance 8 I EN
InternationalFinancialEconomics 8 II EN
M&AandInvestmentBanking 8 II EN
AssetPricing 8 II EN

SECONDYEAR


BusinessValuation 8 I EN
RiskManagement 6 I EN


FinancialEconometrics 6 I EN
CorporateRestructuringandTurnaround 6 I EN
BusinessPlanning 6 I EN
CorporateStrategy 6 I EN
FinancialandCreditsDerivatives 6 I EN
InternationalTaxPlanning 6 I EN
InternationalCorporateFinance 6 I EN
ComplianceandInternationalAuditing 6 I EN
StructuredFinance 6 I EN
AdvancedCasesinBusinessValuation 6 I EN

ADDITIONALCREDITS

Activity ECTS

CompulsoryLanguage 4
Ethics,Responsibility,SustainabilityLaboratory 4
Internship(orprojectwork) 8
Finalexam 18

60
MASTERSDEGREECOURSESDESCRIPTION

Thecoursesarelistedinalphabeticalorder.Shouldthedescriptionofagivencoursenotbeavailableatthe
time of publication of this brochure and therefore not be included herein, it will be published on the
universitywebsiteinthecattedreonlinesection,whichstudentsareaccordinglyadvisedtocheckfromtime
totime.
ADVANCEDCORPORATEFINANCE(8ECTS)
Thecourseisintendedtoprovidestudentswithasoundunderstandingandappreciationofthemain
advanced topics of corporate finance. The course illustrates both the most sophisticated theory and
relatedapplicationsofinvestment/financialdecisionmakingbycorporations,andshowshowfinancial
theory can be used to address practical problems and illuminate institutional aspects of the financial
world.Thecoursewillemphasizethevaluationoffirmsandtheirinvestmentswithinbothariskadjusted
andariskneutralframework,andwillhelpattendantsunderstandhowcapitalmarketsoperate.Specific
topicsthatwillbecoveredinclude:advancedcapitalbudgetingtechniques(e.g.,realoptions),portfolio
theoryandtheCAPMasatooltomeasurethecostofcapitalofvarioustypesofbusinesses,mergers&
acquisitions (M&A), initial public offerings, debt policy and optimal capital structure design in the
presence of corporate taxation with its effects on acquisition techniques (e.g., leveraged buyouts),
dividendpolicy,andthevaluationofcomplexfinancialsecuritiesorclausesrecurrentlyusedintheM&A
context(e.g.,corporatebonds,options).
Inadditiontotheemphasisonfinancialcontentandanalysis,studentswillbeencouragedto(a)apply
computer/software tools (e.g., solve problems or case studies using Excel) and (b) think in a
holistic/interdisciplinaryfashion.Intheprocessstudentsshoulddevelopmethodologicalskillsenabling
themtoaddressavarietyofcomplexrealworldfinancialproblemsthatmayberelevanttotheirfuture
professionallife.Asattendantsmaygraduallydiscover,theworldoffinancecanbequiteexcitingand
rewarding.
Code: M089
Major: BanksAndFinancialIntermediaries
CourseYear: 2
Semester: Fall
Hoursofclasses: 60
Prerequisites CorporateFinance
Assessment: The students performance in the course will be evaluated based on 1
writtenexam(final),agroupprojectand1oralexamaswellastheiroverall
classparticipation.Therelativeweightsofeachare:
WrittenExam:50%
OralExam:20%
GroupProject:30%

Total:100%
Professors: Baldi
LearningOutcomes: Knowledgeandcapacitytounderstand:
Expected to be high and problemoriented with a strong theoretical
background.
Independentthinking:
Expectedtobehigh.
61

Communication:
Expectedtobehigh.

Classattendance:
Regularclassattendanceatlectures,tutorialsandseminarsisessentialfor
doingwellinthecourse.Asthecourseinstructorwillcoveralotofmaterial
in a sequential manner, it is important not to fall behind (contact
colleaguesortheinstructorviaemailand/orduringtheofficehours).All
coursematerialwillbeuploadedontheinstructorswebpageonlyafter
classes.
Textbooks: Main (Core) textbooks: Berk, DeMarzo. Corporate Finance, 2nd Edition,
GlobalEdition,Pearson
Copeland, Weston, Shastri. Financial Theory and Corporate Policy, 4th
Edition,PearsonAddisonWesley

Supplemental(Compulsory)textbooks:
F.Baldi(editedby).Theeconomicsofleveragedbuyouts.Giappichelli,2015

F.Baldi.PrivateEquityTargets.StrategiesforGrowth,MarketBarriersand
PolicyImplications.Springer,2013.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/M089/0/19FLME1/2017

ADVANCEDCORPORATEFINANCE(8ECTS)
Thecoursewillcoverthefollowingtopics:
Riskandreturnmodels,CAPM,APM,Multifactormodels;
CostofEquity,CostofCapital,WACC;
Returnoninvestments,Capitalbudgeting;
Capitalstructuredesign;
Dividendpolicy;
Firmvaluation,DCFModels,Relativevaluationandmultiples;
ValuationinIPO,M&A;
LBOs;
Code: M254
Major: Finance
CourseYear: 1
Semester: Spring
Hoursofclasses: 60
Prerequisites Corporatefinance,financialmathematics,accounting,statistics
Assessment: Written (compulsory) exam followed by an associated oral exam
(optional) entailing the recording of the grade at the time of the oral
exam.
Professors: Kerber/Benedetti
LearningOutcomes: The course will present and discuss corporate finance topics including
advancedcapitalbudgetingtechniques,capitalstructuredesign,dividend
policy and firm valuation. The aim of the course is to combine standard
academic teaching with case studies and personal work experience
presentations from the lecturers in order to provide students with a
frameworktoanalyzeevencomplexinvestmentandfinancingdecisions
62
and understand how financial theory can be used to address practical
issues.
Textbooks: Damodaran,A.(2015)AppliedCorporateFinance,4thEdition;
Additionalrecommendedreferencesmaybegivenduringthecourse.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/M254/0/19FLMF1/2017
ASSETMANAGEMENT(8ECTS)
Internationalandlocalregulatoryframework
Capitalmarketstheoryandassetpricing
Securityanalysis&valuation
Assetmanagementproductsandfundadministration
Riskmanagementpractices
Additionaltopicsreflectingtheinterestsoftheaudience
Code: M217
Major: Finance
CourseYear: 1
Semester: Spring
Hoursofclasses: 60
Prerequisites None
Assessment: oralexam100%
Il Prof. Micillo si riserva di decider se introdurre prove intermedie. Gli
studentiverrannopreviamenteinformati.
Professors: Micillo
LearningOutcomes: To offer an accessible introduction to capital market theory and
regulation,securityanalysis,andinternationalinvestmentswithportfolio
managementapplications.
Textbooks: Brown&ReillyAnalysisofInvestmentsandManagementofPortfolios
Internationaledition(WithThomsonOne),10thEdition(required)
Litterman et al. Modern Investment Management: An Equilibrium
Approach(2003)(recommended)
Risk Budgeting, Second Edition: Risk Appetite and Governance in the
WakeofFinancialCrisis,editedByLeslieRahl(2012)
ASSETPRICING(8ECTS)
1)Introduction
2)Utilitybasedassetpricing
3)Contingentclaims
2)Portfoliotheoryandpractice
3)Equilibriumincapitalmarkets
6)Appliedportfoliomanagement
Code: M244
Major: Finance
CourseYear: 1
Semester: Fall
Hoursofclasses: 60
63
Prerequisites SetbyDepartmentofEconomicsandFinance
Assessment: Problemsetsandfinalwrittenexamination.
Professors: Borri
LearningOutcomes: This class will provide an advanced analysis of asset pricing theory,
financialinstrumentsandportfoliotheory.
Textbooks: Cochrane,AssetPricing,2001
Bodie,KaneandMarcus"Investments",McGrawHill,latestedition.
Siegel, "Stocks for the long run: the definitive guide to financial market
returnsandlongterminvestmentstrategies",McGrawHill,latestedition.
Inaddition,classslidesandadditionalmaterialwillbedistributedthroughthe
classwebsite.

BLOOMBERG(4ECTS)
IntroductiontoBloomberg
GeneraloverviewofBloombergfunctions
SpecificBloombergfunctions
Howtobuildandmanageyourfinancialportfolio
Code: SMDEF00014
Major: Finance
CourseYear: 1
Semester: Fall
Hoursofclasses: 40
Prerequisites IntroFinance
Assessment: Toobtainthe4creditsthestudentsmustattendatleast8/10classesand
successfullypassthefinalexam.Finalexamiswrittenonly.
Professors: Borri
LearningOutcomes: LearninghowtouseBloomberginfinanceapplications
Textbooks: Lecturesnotesandotherdocumentspreparedbytheinstructor
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SMDEF00014/0/LM19WBASE/2
017

GETTINGTOKNOWTHEINSURANCEINDUSTRY(4ECTS)
1.Lifeinsuranceandpensionfunds.2.RiskManagementandNonlifeinsurance.3.Insurancestatistics,
technicalbasesanddatabase.4.Solvencyassessment.5.Distributionnetwork.6.LocalBalanceSheet,
SolvencyIIBalanceSheetandIAS7.Financialmanagement.8.Organizationandmanagement
Code: SMDEF00015
Major: Otheractivities
CourseYear: 1
Semester: Spring
Hoursofclasses: 40
Languageofinstruction: Italian
Prerequisites Norequirements
Assessment: Individualwrittentheoreticalexam
64

In order to obtain the assignment of 4 credits provided for other
activities,thestudentmustattendatleastn.8over10lessonsandpass
thefinalexampositively.
Thefinalevaluationwillbeexpressedwiththejudgment:adequate/non
adequate
Professors: Olivieri
LearningOutcomes: Theaimistogiveacompletetrainingaboutthebasicquantitativetools
for the analysis of the management of an Insurance Company, Life and
NonLife,includedriskmanagement
Textbooks: PITACCOElementidiMatematicadelleAssicurazioni(Ed.LintTrieste)
SANTOBONIF.,(acuradi),(2012),Manualedigestioneassicurativa.Profili
economici,finanziariedigovernance,CEDAM,Padova.

Notesprovidedbytheinstructor
017
CORPORATEGOVERNANCEANDCORPORATEFINANCE(4ECTS)
Theconceptofcorporategovernanceinbothindustrialcompaniesandcreditinstitutionsisatthesame
timeeasyandcomplex.
Easy because the general meaning is of simple comprehension involving the knowledge on how this
companies have to be managed: good governance implies the capacity to conduct the organization
towards the corporate targets in respect of the legal and regulatory framework that affects their
functioning, taking into account a correct balance between gains and losses. Concept always more
complextounderstandinitsentirety,becauseatthegeneralprinciplesofthecompanyorganization,of
theinternalauditofthecompanymanagement,ofthefinanceandofthemarketing,havebeenadded
knowledgesthatareessentialtomanagecorrectlyacompany.Attheseknowledges,thereareothersto
bejoinedinthecasethatthecompanyhasaparticularroleintheeconomyofitscountry(e.g.banks,
insurancesorpharmaceuticalcompanies)and/orinthecasethatarelistedintheStockExchange.
Code: SMDEF00013
Major: Otheractivities
CourseYear: 1
Semester: Spring
Hoursofclasses: 40
Prerequisites None
Assessment: Inordertoobtaintherecognitionofn.4creditsoftheAltreattivit,the
studentmustattendatleastn.8/10meetingsandpassthefinalexam.
Thefinalexamwillbeawrittentestwithmultiplechoicequestions.The
finalvaluationwillbeexpressedaspassed/notpassed.
Professors: FornariLuswergh/Guglielmetti
LearningOutcomes: The proposed lectures are not meant to overlap with the curricular
courses, at the contrary they are aimed at supporting you in the
understandingoftheinterconnectionsbetweenthetypicalgoalsofevery
company and the need to create a system of management based on
multidisciplinaryknowledgesthatarecrucialinordertocreateefficiency
andvalue.
65
Weareseekingtogiveyousomestartingpointsrelatedbothtoclassical
themesoncorporategovernance:forexample,thedifferentsystemsof
corporategovernance(traditional,dualisticandmonistic),theroleofthe
shareholders,ofthedirectors,ofthestatutoryauditors,ofthemanagers;
focusing on the dynamics of the relations between the different
authoritiesandentitiesofacompany.Butwearealsogoingtoinsertsome
topicsthatdonotseemtobestrictlyrelatedwiththemanagementofa
company,butthatinouropinionarebecomingalwaysmorefundamental,
ifnottoimprovetheeconomicperformance,surelytoavoidtherisksand
thelossesofvalueforthecompany.Wearereferringto,forexample:the
system of controls, the risk management and the relations with the
stakeholders.Thewishesarethatthisexperiencecouldhelpyouaspart
ofyourculturalbaggagethatisnecessaryinordertoentertheworldof
workwithgreaterawareness.
Textbooks: Inordertopermittoalltheattendeestoanalyzethetopicsofthelessons,
thestudentswillbeabletodownloadtheteachingmaterialsdirectlyfrom
the elearning platform (www.learn.luiss.it) accessible with personal
usernameandpassword.
017

ECONOMETRICSFORFINANCE(10ECTS)
Linear regression model. Time series models. Linear stochastic processes. Stationarity. Invertibility.
Causality. ARMA models, identification, estimation, interpretation and forecasting. Measurement and
analysis of the volatility. ARCH and GARCH models, identification, estimation, interpretation and
forecasting.
Code: M242
Major: BanksandFinancialIntermediaries
CourseYear: 1
Semester: Spring
Hoursofclasses: 90
Prerequisites LinearAlgebra.Basicstatisticsandeconometrics.
Assessment: Writtenexam.
Professors: Franchi
LearningOutcomes: Main methods of analysis of economic phenomena, analysis and
forecasting of economic and financial time series. Using statistical and
econometricsoftware.
Textbooks: MarnoVerbeek,AGuidetoModernEconometrics,Wiley,2012,4thEdition.
R.S.Tsay.AnalysisofFinancialTimeSeries,Wiley,2010.3rdEdition.
Furtherreadingsmaybeassignedduringtheclasses.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/M242/0/19FLM1B/2017

ECONOMETRICTHEORY(10ECTS)
Firstpart(Pozzi):Classicallinearmodelanditsasymptoticproperties;hypothesistesting;endogeneity
andinstrumentalvariables;somenotionsofdiscreteresponsemodels
Code: M263
66
Major: Economics
CourseYear: 1
Semester: Spring
Hoursofclasses: 90
Prerequisites None
Assessment: Problemsets,midtermexam,finalexam
Professors: Pozzi/Ragusa
LearningOutcomes: Thefirstpartofthecoursewillprovidestudentswithtoolstounderstand
theasymptoticpropertiesofthelinearmodel.Thegoalistohavethem
master the subject enough to be able to use standard inference and
testingproceduresintheirmasterthesis.
Textbooks: Firstpartofthecourse(Pozzi):anyofthefollowingtextbookscanbeused
asavalidreference.
CameronandTrivedi:"Microeconometrics",CambridgeUniversityPress
Davidson and Mackinnon: "Econometric theory and methods", Oxford
UniversityPress
Wooldridge: "Econometric analysis of cross section and panel data", MIT
Press

Secondpartofthecourse(Ragusa):
Hamilton,J.D.,TimeSeriesAnalysis.Princeton:PrincetonUniversityPress,
1994.(orlatestedition)
Hayashi,Fumio,Econometrics.Princeton:PrincetonUniversityPress,2000
ECONOMETRICTHEORY(10ECTS)
Someofthetopicscoveredare:statisticfoundations,singleequationlinearmodel,andOLSEstimation.
Asymptotic properties of OLS estimators. Testing (Likelihoodtype, Wald, Lagrange). Measurement
Error. Omitted variables. Instrumental variables estimation of the singleequation linear model. Panel
Data.GeneralizedMethodofMoments.TimeSeriesmodeling.VectorAutoregression.
Code: SJH
Major: Economics
CourseYear: 1
Semester: Spring
Hoursofclasses: 90
Prerequisites AneconometricclasssimilartoAppliedStatisticsandEconometrics.
Assessment: Midtermandfinalexams.
Professors: Ragusa
LearningOutcomes: Thepurposeofthecourseistoprovidethenecessarytoolsforathorough
understandingofasymptotictheoryinclassicaleconometrics.Thecourse
goalsare

1) to be able to perform estimation and testing in linear crosssection
regressionmodels,
tobesufficientlycomfortablewithasymptotictheoryforlinearmodels,

67
2)tobeabletoimplementbasiccrosssectionmethodsasneededfora
advancedthesis.
Textbooks: Hansen,Bruce.Econometrics.(Freelydownloadablefromauthorwebsite).

Wooldridge,Jeffrey.EconometricAnalysisofCrossSectionandPanelData.
TheMITpress.

Hamilton, James Douglas. Time series analysis. Vol. 2. Princeton: Princeton
universitypress,1994.

Otherreadingswillbeassignedasneeded.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SJH/0/19FLMF1/2017

ECONOMICS,UNCERTAINTYANDINFORMATION(8ECTS)
Individual choices: choice theory under uncertainty and ambiguity; intertemporal choices; priciples of
gametheory;principlesofinformationtheory.
MarketsandInstitutions:Efficientmarkettheory.Auctions.Marketmicrostructure.
Topics: Markets with asymmetric information (moral hazard, adverse selection, signalling);
Interdipendenceofindividualchoices(socialpreferences,herding,conformism)
Code: SL5
CourseYear: 1
Semester: Spring
Hoursofclasses: 60
Prerequisites Principlesofmicroeconomics
Professors: DiCagno
LearningOutcomes: Aimofthecourseisfurnishthebasictoolsofeconomicsofuncertainty
andinformation
Textbooks: Lecturenotesandmaterialsuppliedbytheinstructor(presentationsand
articlesavailableonthewebpage).

R.Gibbons,Teoriadeigiochi,ilMulino,ultimaedizione

M.O'Hara,MarketMicrostructureTheory,Blackwell,1997.

A. Shleifer, Inefficient Markets An Introduction to Behavioral Finance,
OxfordUniversityPress,2000.
I.MachoStadlerJ.D.PerezCastrillo,AnIntroductiontotheEconomicsof
Information,OxfordUniversityPress,2009.
J.D.Hey,PeopleareDifferent,Aracne.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SL5/0/19FLM1B/2017

68
ECONOMICSANDMANAGEMENTOFFINANCIALINTERMEDIARIES(ADVANCED)(8ECTS)
Section1.Assetandliabilitymanagement
Section2.Marketrisk
Section3.Creditrisk
Section4.Operationalrisk
Section5.Capitalmanagementandvaluecreation
Code: SLS
CourseYear: 2
Semester: Fall
Hoursofclasses: 60
Prerequisites None
Assessment: Classworks
Professors: Curcio
LearningOutcomes: Developing a comprehensive knowledge about the main models to
managerisksatfinancialintermediaries
Textbooks: RestiA.andSironiA.(2008),Riskmanagementandshareholders'valuein
banking. From risk measurements models to capital allocation policies,
EGEA,Milan.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SLS/0/19FLM1B/2017
ECONOMICSANDSECURITIESMARKETS(8ECTS)
Thecoursestartsbyintroducingthemarketsforfutures,forward,andoptioncontractsandbyexplaining
theactivitiesofhedgers,speculators,andarbitrageurs(Chapter1).
ThenChapter2explainsthefunctioningoffuturesmarketsanddiscusseshowlongandshortfutures
positionsareusedforhedging.
Chapter3coversbasisrisk,hedgeratios,theuseofstockindexfutures,andhowtorollahedgeforward.
Afterdealingwithcalculationsinvolvinginterestrates,Chapter4includesadiscussionofforwardrates,
FRAs,andtheoriesofthetermstructure.
Therelationshipbetweenforward/futurespricesandspotpricesisprovedinChapter5byusingsimple
arbitragearguments.
Chapter7coversthenatureofswapsandhowtheyarevalued.
Chapter10providesinformationonhowoptionsmarketswork.
Chapter11outlinesanumberofrelationshipsbetweenastockoptionpriceandtheunderlyingstockprice
thatdonotinvolveanyassumptionsaboutthevolatilityofthestocksprice.
Chapter12coversvariouswaysinwhichtraderscanformportfoliosofcallsandputstogetinteresting
payoffpatterns.
Chapter13discussessimpleoneandtwostepbinomialtrees.Itenablessomeofthekeyconceptsin
option valuation to be introduced. Material on the use of binomial trees for index options, currency
options,andfuturesoptionsisincludedinthischapter.
Chapter15coversagreatdealofimportantmaterial:thelognormalityofstockprices,thecalculationof
volatilityfromhistoricaldata,riskneutralvaluation,theBlackScholesMertonoptionpricingformulas,
impliedvolatilities,andtheimpactofdividends.
Chapter17dealswithoptionsonstockindicesandcurrencies.ItshowshowtheBlackScholesMerton
formulascanbemodifiedtoprovidevaluationsof Europeancallandputoptionsonastockpayinga
known dividend yield (stock indices and currencies are analogous to stocks paying known dividend
yields).
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Chapter18dealswithfuturesoptions.Itiscloselyrelatedtothepreviouschapter.Thekeypointisthata
futurespricebehaveslikeastockpayingadividendyieldattheriskfreerate.
Chapter19coversthewayinwhichtradersworkingforfinancialinstitutionsandmarketmakersonthe
floorofanexchangehedgeportfolioofderivatives.
Code: SR9
CourseYear: 1
Semester: Spring
Hoursofclasses: 60
Prerequisites Baseknowledgeoffinancialmathematics
Assessment: Theassessmentmethodisbasedonafinalwrittenexam.
Professors: BaroneE.
LearningOutcomes: Thiscoursecoversforwards,futures,swaps,andoptions.Bytheendof
the course, students will have good knowledge of how these products
work, how they are used, how they are priced, and how financial
institutionshedgetheirriskswhentheytradetheproducts.
Textbooks: HULL, John C., Options, Futures, and Other Derivatives, Pearson,
February2014(9thed.).
HULL, John C., Options, Futures, and Other Derivatives Solutions
Manual,Pearson,February2014(9thed.).
ADDITIONALRESOURCES
HULL,JohnC.,TechnicalNotes,instructorswebpage.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SR9/0/19FLM1B/2017

EMPIRICALFINANCE(8ECTS)
1)Returns
2)AssetPricingModelsandFactormodels
3)MarketEfficiency
4)Volatility
5)RiskManagement

IMPORTANT:
Asthisisapreliminarysyllabus,thecontentofthecourseandtheorderofthetopicsmightslightly
change.
Code: M206
Major: Finance
CourseYear: 2
Semester: Fall
Hoursofclasses: 60
Prerequisites EconometricTheoryalongwithotherrequirementssetbyDepartmentof
EconomicsandFinance.
Assessment: Assignmentsandfinalwrittenexamination.
Professors: Nucera
LearningOutcomes: This is an advanced course which aims at making students familiar with
techniquesinEmpiricalFinance.Thecoursewillbebasedontheoretical
lectures along with lab sections that will implement with a statistical
softwaresomeofthemethodologiesseeninclass.
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Textbooks: EmpiricalFinanceforfinanceandbanking,Wiley

TheEconometricsofFinancialMarkets,Princeton

ElementsofFinancialRiskManagement,2nded.,Elservier

FinancialRiskForecasting,Wiley
EQUITYMARKETSANDALTERNATIVEINVESTMENTS(8ECTS)
MorellisModule
Equitymarkets:Publicsidevsprivateside;theroleofinvestmentbanks.
IPO:Generaloverviewandprocess.
IPO:Casestudy.
Rightsissues:technicalitiesandrationale
Acceleratedbookbuildings/Blocktrades
Equitylinked:overviewandrationale.
Universeofequitymarketsinvestors:Longonly,hedgefunds,sovereign/wealthfunds,retail.
Theroleofequityresearch:Evolution,pastissues,regulation.
Privateequityandfinancialsponsors:investmentcycle,domesticvsinternational.
Hedgefundtestimonial.
Privateequitytestimonial.

VitalesModule
Marketefficiencyandtechnicalanalysis.
Valueandgrowthinvestment.
Insidertrading.
Hedgefundsorganizationandstructure.
Hedgefundsstrategies:Long/short,marketneutral,fixedincome,globalmacro.
Performanceanalysisoffundsmanagement.
Database,indicesandbenchmarks.
Diversificationandassetallocation.
Code: SLX
Major: Finance
CourseYear: 2
Semester: Fall
Hoursofclasses: 60
Prerequisites Basic Knowledge of Microeconomics, Finance, Corporate Finance,
Statistics,Econometrics
Assessment: Finalclosedbookfinalwrittenexam:50%multiplechoicequestions,50%
essaytypequestions.
Professors: Morelli/Vitale
LearningOutcomes: Tointroducestudentsinarigorousbutintuitivewaytotheequitymarket
environmentandalternativeinvestmenttechniques.
Textbooks: Lhabitant(2007):HandbookofHedgeFundsJohnWiley&Sons(Vitale)
Investment Banks, Hedge Funds & Private Equity David Stowell Academic
Press(Morelli)
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SLX/0/19FLME1/2017
71

EXPERIMENTALANDBEHAVIOURALECONOMICS(8ECTS)
ThiscourseintroducesstudentstothemethodsofExperimentalEconomicsandincludesapplicationsto
Behavioral Economics. Students will be introduced to discussions about both the power and the
limitationsofExperimentalEconomicsasadatacollectionmethod,andtodiscoveriesthathavespurred
a deeper interest in individual and group behavior. Students will practice the methods taught by
reviewingpublishedpapersanddesigningtheirownexperiment.
Code: M051
Major: Elective
CourseYear: 2
Semester: Fall
Hoursofclasses: 60
Prerequisites The course is directed to Graduate students (Laura
Magistrale/Master/DottoratodiRicerca)buthasnoformalprerequisites.
Assessment: Active class participation (15%), Student Presentations (35%), Short
ResearchPaperbasedonanexperimentaldesignforaspecificresearch
question(50%)
Professors: DiCagno/Gueth
LearningOutcomes: Most empirical economic research relies on using data collected for
purposesotherthanresearch,suchasgovernmentplanning.Thesedata
relyonsurveysdistributedtoproducersorconsumersintheeconomy,on
tax filings, and on public accounting by corporations. There are many
limitationswiththisdata,suchasmissingtheoreticallyimportantfactors
ormissinginformationaboutspecificsinthemeasurementmethods,i.e.
data collection process. Experimental Economics offers an alternative
datacollectionmethodthatisdirectlydesignedtostudyspecificresearch
questions. The data collection process is under full control by the
researcher. The methods of Experimental Economics rely on carefully
controlled designs, in ways similar to Experimental Psychology or
Experimental Physics. However, the ability to control for unwanted
influencesandunobservedphenomenaismuchweakerinthesocialthan
inthenaturalsciences,andinthiscoursewewilldiscussthelimitsofour
abilitytoconstructanidealsocialscienceexperiment.
Historically,economictheoryhasfocusedonmarketperformanceandany
interestinindividualbehaviorderivedfromthisinterestinmarkets.Asthe
researchmethodsofExperimentalEconomicshascometobemorewidely
used, an independent interest in individual and group behavior has
developed as questions regarding assumptions and axioms behind the
classical theories arose. This course will introduce students to some of
thesequestionsandsubsequentresearch.
At the end of the course the students should be able to answer the
following questions: 1) What are the most important benefits and
limitations of the experimental methodology? 2) What are some of the
mostimportantdiscoveriesmadeusingeconomicsexperiments?3)What
aretheelementsofagoodexperimentaldesign?4)Howshouldagood
designbeinfluencedbytheoryandeconometricmethods?
Textbooks: Bardsley, N., Cubitt, R., Loomes, G., Moffat, P., Starmer C. and Sugden, R.
(2009),ExperimentalEconomics:RethinkingtheRules,PrincetonUniversity
Press.
72
Holtc.A.(2007),Markets,gamesandstrategicbehavior,PearsonAddison
Wesley

Holt,CharlesA.(2007),Markets,GamesandStrategicBehavior,Pearson
Bardsley, N., Cubitt, R., Loomes, G., Moffat, P., Starmer C. and Sugden, R.
(2009),ExperimentalEconomics:RethinkingtheRules,PrincetonUniversity
Press.
Additional readings Friedman, D. and Sunder S., (1994), Experimental
Methods:APrimerforEconomists,CambridgeUniversityPress.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/M051/0/19FLMBASE/2017
FIXEDINCOME,CREDITANDCOMMODITIES(8ECTS)
Thecourseisdividedintofiveparts.ThefirstpartofthecoursecoversthestudyoftheshapeoftheYield
CurveandBondRiskPremiaintreasurymarket.Thesecondpartcoversthemostimportantfixedincome
instrumentssuchaszerocouponbonds,strips,repos,swapsandbondandmoneymarketfuture.The
third part covers the determinants of Credit Risk Premia in sovereign and non sovereign markets,
introduces the main types of corporate bonds and credit default swaps and analyze factors affecting
their prices. The fourth part is on Commodities Futures and Dynamic Strategies in fixed income and
commoditymarkets,suchascarry,relativevalueandmomentum.Thefifthandfinalpartofthecourse
covers exogenous risk factors affecting the expected returns of fixed income securities markets
(inflation,macro,liquidity).
Code: M012
Major: Elective
CourseYear: 2
Semester: Fall
Hoursofclasses: 60
Prerequisites This is basically a selfcontained course. There is no presumption of
preliminary knowledge of finance. Good proficiency in Excel, and some
knoweldgeinmacroeconomicsandstatisticsarehoweveruseful.
Assessment: 1hourMidtermexam(thiswillbetakenduringclassandwillbasedon3/4
questions. Covers application of basic formulas and discussion of main
financialinstrumentsintroducedinclassduringpartI,IIandIIIofthecourse
.=20%
Writtenexamattheendofthecourse=40%(*)Thewrittenencourseexam
willconsistofsixquestions,whicharebroaderinscopethaninthemidterm
andcanbeinprincipleansweredinplainenglish.
Mandatory team project run during the course and to be delivered by
December10,2014.40%(**)
Theinstructorreservestherigthtowaivethegroupexerciseortopostpone
thecontentofthemidtermexamtothefinalexamforthosestudentswho
have a valid reson to ask for it (e.g, working students, Double Degree
Programstudents;Eramusstudents,etc.).

The instructor strongly advises students to complete the exambefore the
break(theymayhoweverregisterthegradeafterthat).

Studentswillingtochangetheirgrademaytakeanadditionaloralexam
worth (3/30 to + 3/30 of their initial vote). Students taking the Double
DegreeshouldcontactmeASAP.
73
Professors: CyboOttone
LearningOutcomes: This course covers valuation, pricing and forecasting of fixed income and
commoditylinkedinstruments.Wewilllookatthesemarketsfroma"top
down" perspective, by computing the expected returns of fixed income
assetclassesandstrategies,aswellastheirrelationwiththemacroeconomy.
We will look at the same markets from a "bottomup" perspective, by
describing and pricing the most important fixed income and commodity
instruments.
Learning how Fixed Income, Credit and Commodities markets and
instrumentsworkiscriticalforanybodypursuingacareerinfinanceand
banking,asinterestratesareusedtodiscountanykindofcashflowand
areamongthemainmacrovariables.Inparticular,thiscourseisrelevant
forstudentsseachingajobinWholesaleBanks(trading/research/capital
markets) , Sovereign and Private Sector Issuers (corporate finance,
treasury), Central Banks, Financial Regulators and Rating Agencies,
InternationalFinancialInstitutions(IMF,WorldBank,BIS),AssetManagers
and Institutional investors (portfolio management, ALM, risk
management). The instructor has business and academic experience in
someoftheseareas.Afewexternalguestswillbeinvitedtosharetheir
experienceonothersegmentsofthesemarkets.
Textbooks: Foreachclass,Iwillpostonthecoursewebistetheclassslides.Iwillalso
assignchaptamajorpapertoread,whichmustbecomplementedwithclass
notes.SectionIVandV,aswellasguestlectures,willbemoreopenended.I
willcomplementtheassignedpaperswithmyhandoutsandcasestudies.
A.Illmanen (2011) Expected Returns: An Investor's Guide to Harvesting
MarketRewards(ER)byAnttiIlmanen,JohnWileyandSons,2011.(goodto
havebutIdonotmandatepurchase).
B.TuckmanandA.Serrat(2011)FixedIncomeSecurities.ToolsforTodays
Markets,ThirdEdition,2011,WileyFinance(FIS)
Instructorhandoutsandcasestudies
Databaseswithmajorpricedatatobeprovidedbytheinstructor
AlltherelevantmaterialsareavailableontheCoursewebsite./

INTERMEDIATIONANDFINANCIALMARKETSLAW(ADVANCED)(8ECTS)
SUMMARY:Analysisoffinancialintermediariesregulationwithparticularreferencetobanksandother
authorizedfirms.Therulesofconduct.Collectiveassetmanagement.Examinationofregulatedmarkets,
MTFsandSystematicInternalises,OTFs.MiFIDIIandsecondaryregulation.TheEuropeanfinancialsector
supervision:techniqueofinterventionandthecompetentAuthorities.

FirstPart:Introductionandregulatoryevolution:hardlawandsoftlaw.TheinternationalandEuropean
sources of the financial regulation. The powers and activities of the vigilance Authorities. The
architecture of financial supervision.. The subjects (types of firms, organization and functions), the
activity,thecrisis.

SecondPart:Theinvestorprotection.Thebankinggovernance.Theexecutionoftransactionsinfinancial
instruments.

74
ThirdPart:Marketsregulation.Fromthemarketsprivatizationtotheabolitionoftheconcentrationfor
trading on equities. Regulated markets and OTC markets. MiFID II and recent EU directives. New
developments.
Code: M255
CourseYear: 1
Semester: Fall
Hoursofclasses: 60
Prerequisites Inordertofacilitatethefruitionofthecourse,basicknowledgeofcivillaw
and commercial law are appropriate. Essential notions will be provided
duringthecourseaccordingtothelevelofstudents'knowledge.
Assessment: Oralexamination
Professors: Troisi
LearningOutcomes: Highlightthedevelopmentofthefinancialsectorregulationwith
particularattentiontothemostcriticalissues;analysetheformsof
investorprotectionprovidedbythefinancialservicesregulation;identify
therationaleofsomerecentfinancialevents.
Takingintoaccountthelegalandjudicialdevelopmentsinthefinancial
sector,theanalysisofsourcesisaimedatacquiringusefultoolsto
monitorrelevantupdates.

Thecourseaimsatgivingacontributionintermsoffinancialregulation
knowledgeintheeducationalprocessofstudentswhowanttostart
studiesrelatedtothebusinesslaw.
Textbooks: AA.VV.,Manualedidirittobancarioefinanziario,editedbyF.Capriglione,
Cedam,2015,withrespecttothefollowingchapters:
I;
II,sect.I,par.from1to8;sec.II,par.91011:
III;
IV,par.12(fornotattendingstudentsalsopar.34561011);
VI;
VII;
X,sect.IandII;
XI(ingeneral);
XVII;
XIX;
XX(ingeneral);
XXI,sect.III;sect.III(ingeneral).

Furthermaterialswillbeavailabletothestudentsonthewebsite.

INTERNATIONALFINANCE(8ECTS)
TopicsandReadingList

ForeignExchangeRateMarkets
FederalReserveBankofNewYork(2010),TriennialCentralBankSurveyofForeignExchangeand
DerivativesMarketActivity.

75
CoveredInterestRateParity
OR:Chapter8.7.5

UncoveredInterestRateParity
OR:Chapter8.7.5
ClassNotes

APrimeronDifferenceEquations
Sargent,Thomas(1987),MacroeconomicTheory,ChapterIX
ClassNotes

MonetaryModeloftheNominalExchangeRate
OR:Chapter8.2
ClassNotes

TheMundellFlemingDornbuschModel
OR:Chapter9.2

SpeculativeAttacksonFixedExchangeRateRegimes
OR:Chapter8.4.2

SelfFulfillingCurrencyCrises
OR:Chapter9.5.4

ExchangeRateModelswithMicrofoundations
OR:Chapter8.3

LiquidityTraps
Krugman,P.R.,Dominquez,K.M.,&Rogoff,K..(1998).It'sBaaack:Japan'sSlumpandtheReturnof
theLiquidityTrap.BrookingsPapersonEconomicActivity,1998(2),137205.
http://doi.org/10.2307/2534694

SecularStagnation
Eggertsson,G,NeilR.Mehrota,LawrenceH.Summers(2016).SecularStagnationintheOpen
Economy.NBERWorkingPaperNo.22172.
Code: SI0
Major: Finance
CourseYear: 1
Semester: Fall
Hoursofclasses: 60
Prerequisites None
Assessment: WrittenFinalExam
MidtermFinalExam:itboostsfinalexamgradeupto3points.
Professors: Benigno
LearningOutcomes: This course provides an indepth analysis of models of exchange rate
determination.Thecoursestartswithareviewofthebasicsrelationships
in currency markets, like covered and uncovered interest parities.
Monetarymodelsofthenominalexchangeratearepresentedfollowedby
the MundellFlemingDornbusch model. We will also learn how
speculationcanleadtoacurrencycrisisbothfromafundamentalanda
selffulfillingperspective.Then,weturntomicrofoundedmodelsofthe
76
nominal exchange rate. The course will conclude by addressing the
economicsofliquiditytrapsandtheoccurrenceofsecularstagnations.
Textbooks: Obstfeld, Maurice and Kenneth Rogoff (1996), Foundations of
InternationalMacroeconomics,TheMITPress.(OR)

There is a courses web page available at http://docenti.luiss.it/benigno/
which contains updated information on the syllabus and courses
materials.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SI0/0/19FLMF1/2017
INTERNATIONALTRADEANDCOMMERCIALPOLICIES(8ECTS)
The focus will be on the role of technology, factor endowments, economies of scale, demand and
transportcostsinexplainingthepatternsoftradeandmultinationalactivity.Anotherkeyissuewillbe
thatoftheconsequencesofMNEsforwages,employment,andproductivity.Someofthequestionsthat
willbeaddressedare:

Whydocountriestrade?AndwhydoMNEsarise?
WhogainsandwholosesfromMNEsandFDI?
WhatdeterminestheactualbehaviorofcontemporaryMNEs?

Aftersketchingthemainrecenttheoriesofthemultinationalfirm,someempiricalevidenceandsome
casestudieswillbesurveyed.

Students will actively participate in presenting and comparing specific experiences of multinational
activity.
Code: SJO
Major: Elective
CourseYear: 2
Semester: Fall
Hoursofclasses: 60
Prerequisites Microeconomics/Macroeconomics
Assessment: Teampresentationsbystudents,writtenand/ororalexam
Professors: Manzocchi
LearningOutcomes: The aim of the course is to provide students with the skills required to
comprehend and analyze some of the contemporary international
economicissues,andinparticulartopresentthemthemoderntheoryof
themultinationalenterprise(MNE),itsworkingandtheconsequencesof
multinationalactivitiesfortrade,FDI,jobsanddevelopment.
Textbooks: FrederickGuy,Theglobalenvironmentofbusiness,OxfordU.P(2009).
Giorgio Barba Navaretti and Anthony J. Venables, Multinational Firms in
theWorldEconomy,PrincetonUniversityPress(2004).
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SJO/0/19FLMBASE/2017
77
MACROECONOMICANALYSIS(8ECTS)
Introductiontoadvancedmacroeconomicswithfocusonthetheoryofconsumptionandassetpricing,
neoclassicalgrowth,endogenousgrowthandequilibriumunemployment.
Code: SEZ
Major: Economics
CourseYear: 1
Semester: Spring
Hoursofclasses: 60
Prerequisites Elementarymacroeconomicandmicroeconomictheory,basicnotionsin
calculus
Professors: Reichlin
LearningOutcomes: Providebasicnotionsandmethodsofadvancedmacroeconomictheory
withspecialfocusonconsumption,assetpricing,economicgrowthand
equilibriumunemployment
Textbooks: ClassNotes,Pissarides(2000)"EquilibriumUnemploymenttheory",Romer,
D.(2004)"AdvancedMacroeconomicTheory"
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SEZ/0/19FLME1/2017

MANAGERIALECONOMICS(8ECTS)
ThecoursewillintroducestudentstoadvancedtopicsinManagerialEconomicsandEntrepreneurship.
Eachtopicwillbefirstanalyzedfromatheoreticalperspectiveandthencomplementedwithempirical
applications.
Code: SJ9
Major: Elective
CourseYear: 2
Semester: Fall
Hoursofclasses: 60
Prerequisites Microeconomicsandbasiccalculus
Assessment: WrittenExam(80%)andparticipationindiscussionofcasestudies(20%)
Professors: Schivardi
LearningOutcomes: The course will introduce students to advanced topics in Managerial
EconomicsandEntrepreneurship.Eachtopicwillbefirstanalyzedfroma
theoretical perspective and then complemented with empirical
applications.
Textbooks: Suggested readings: Tirole, Jean. The theory of corporate finance.
Princeton University Press, 2010. Simon Parker, The Economics of
Entrepreneurship, Cambridge University Press, 2009. Bloom, Nicholas,
RaffaellaSadun,andJohnVanReenen."ManagementasaTechnology."
Researchpaper,StanfordUniversity(2013).
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SJ9/0/19FLME1/2017

78
MARKETLAWANDREGULATION(8ECTS)
1.Introduction
2.TheFinancialSystem
3.TheGoalsandStrategiesofFinancialRegulation
4.TheLimitsofFinancialRegulation
5.TheoryofFinancialMarkets
6.InformationIntermediaries
7.MarketStructure
8.IssuerDisclosureRegulation
9.TradingandMarketIntegrity
10.RegulatingConsumerFinance
11.FinancialAdvice
12.FinancialProducts
13.TheoryofBanking
14.CapitalRegulation
16.BankResolution
17.BankGovernance
22.AssetManagersandStability
24.Fromprinciplestopractice
26.SupervisionandEnforcementofFinancialRegulation
27.RegulatoryArchitecture:WhatMatters?
28.InternationalRegulatoryCoordination
29.Conclusion:DesigningTomorrow'sFinancialSystemToday
Code: M216
Major: Finance
CourseYear: 1
Semester: Spring
Hoursofclasses: 60
Prerequisites None
Assessment: 50%oraltest50%writtenpaper
Professors: DiNoia/Lucantoni
LearningOutcomes: ThepresentcourseprovidesanoverviewoftheEuropeanFinancial
MarketRegulationwhichgovernssecuritiesmarketsintheEUandthe
actorsonthesemarkets(issuersseekingcapital/funding,investment
firmswhichprovideintermediationservices,tradingvenues,rating
agencies,investmentanalistiandinvestmentfunds).
Textbooks: PrinciplesofFinancialRegulation

JohnArmour,DanAwrey,PaulDavies,LucaEnriques,JeffreyN.Gordon,
ColinMayer,andJenniferPayne
OxfordUniversityPress
79
2016

MARKETLAWANDREGULATION(8ECTS)
Thecoursewillbecomposedoftwocomplementaryparts.Thefirstwillprovideabroadoverviewofthe
scholarlyfieldknownas"lawandeconomics",withfocusonhowlegalrulesandinstitutionscancorrect
marketfailures,onthelawandeconomicsofcrimeanditsprevention,andonissuesrelatedtothefight
oforganizedeconomiccrime(corruption,largefrauds,etc.).
Withthisbackground,thesecondpartofthecoursewillfocusonAntitrustlaws,andtheirenforcement.
Theaimisexploringingreaterdepthafewtopicsonwhichtheresearchdebateiscurrentlymorelively
andwhereopenissuesfornovellawandeconomicresearchappearmorepromising.Theideaistobring
students at the research frontier in some of these topics, so that they are ready for thinking at an
interestingandnovelprojectfortheirMasterthesis.
Mostlectureswillbebasedonbackgroundreadingsandonspecificresearchpapersthatwewillassign
inadvanceduringthecourse,sotheycanreadthembeforetherelevantlecturesordiscussedduring
'Esercitazioni'.
Dependingontimeavailabilityandinterestsofthestudents,thespecifictopicswillcovermostofthe
themeslistedintheweeklyprogrambelow.
Code: M296
Major: Economics
CourseYear: 1
Semester: Spring
Hoursofclasses: 60
Prerequisites None
Assessment: Writtenexam.
Professors: Spagnolo
LearningOutcomes: Theobjectiveofthecourseistoensurestudentslearnthefundamentals
oflawandeconomicsandreachthecurrentresearchfrontier.Thefocus
willbeinparticularoncriminal,administrativeandcompetitionlawand
howtheseinteractwiththegovernanceofpublicgoodprovision,thefight
againstorganizedeconomiccrime(corruption,collusion,financialfraud)
andtheimplementationofcompetitionpolicy,respectively.
Textbooks: Alreadymentioned.

MATHEMATICALMETHODSFORECONOMICSANDFINANCE(8ECTS)
Part1:FunctionsofSeveralVariablesandStaticOptimizazion

Part2:
LinearAlgebra,LinearDifference/Differentialequations,DynamicOptimization
Code: M261
Major: Economics
CourseYear: 1
Semester: Fall
Hoursofclasses: 72
80
Prerequisites AllBasicMathematicscoursesofLaureaTriennale.
Assessment: WrittenExamandOralExam.
Professors: Gozzi/Lippi
LearningOutcomes: TolearnthebasicmethodsofLinearAlgebra,LinearDynamicalSystems,
StaticandDynamicOptimization.Theseareessentialtoolstounderstand
anddevelopmathematicalmodelsinEconomicsandFinance.
Textbooks: Weeks16:
MATHEMATICSFORECONOMISTS
CarlSimoneLawrenceBlume
W.W.NORTON&COMPANY.
PlusNotesgivenbyProf.FaustoGozzi

Weeks712:
LINEARALGEBRADONERIGHT.
SheldonAxler
Springer
PlusNotesgivenbyProf.MarcoLippi
Part1:LinearAlgebraandDifference/Differentialequations

Part2:CalculusofSeveralVariablesandStaticOptimizazion
Code: SEU
Major: Finance
CourseYear: 1
Semester: Fall
Hoursofclasses: 72
Prerequisites AllBasicMathematicscoursesofLaureaTriennale.
Assessment: WrittenExamandOralExam.
Professors: Gozzi
LearningOutcomes: To learn the basic methods of Linear Algebra, Linear and Nonlinear
Dynamical Systems, Static Optimization. These are essential tools to
understandanddevelopmathematicalmodelsinEconomicsandFinance.
Textbooks: MATEMATICSFORECONOMISTS
CarlSimoneLawrenceBlume
W.W.NORTON&COMPANY.

Notesgivenbytheteacher.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SEU/0/19FLMF1/2017
Part1:LinearAlgebraandLinearandNonlinearDifferential
andDifference
Equations(ODEandDE).

81
Part2:StaticOptimizationandapplications.
Code: SEQ
CourseYear: 1
Semester: Fall
Hoursofclasses: 60
Prerequisites AllMathematicscoursesofLaureaTriennale.
Assessment: Esamescrittoeorale.Sepossibileesercizidasvolgeredurantelelezionio
leesercitazioni
Professors: Gozzi
LearningOutcomes: Learn the basic techniques for the study of Linear Algebra, Linear and
Nonlinear
Dynamical Systems, Optimization; these are essential tools for
understanding and developing mathematical models in economics and
finance.
Textbooks: MATEMATICAPERL'ECONOMIAELESCIENZESOCIALI
CarlSimoneLawrenceBlume(trad.itacuradiAlbertoZaffaroni).
Volumi1e2
(Universit?Bocconieditore)

Dispensefornitedaldocente
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SEQ/0/19FLM1B/2017

MATHEMATICALSTATISTICS(8ECTS)
Introductorycoursetothelanguageofprobabilityandstochasticprocesses.Basicconceptsofinferential
statisticsandtoolsofdataanalysissuchaspointestimation,confidenceintervalsandhypothesistesting.
Code: M238
Major: Economics
CourseYear: 1
Semester: Fall
Hoursofclasses: 72
Prerequisites Calculus,series,integration,functionsdefinedonEuclideanspaces.
Assessment: Writtenexambasedontheoreticalexercises.
Professors: Bartolucci/Liseo
LearningOutcomes: Goalofthecourseistoequipthestudentswiththebasicmathematical
toolsnecessaryforhandlingtheusualstatisticalmethodsinEconomics.
Textbooks: Blitzstein, J.K, and Hwang, J. (2014). Introduction to Probability, Chapman
andHall/CRC.

Casella,G.andBerger,R.L.(2002).Statisticalinference,2ndedition.Pacific
Grove,CA:Duxbury.

Evans,M.J.,andRosenthal,J.S.(2010).Probabilityandstatistics:Thescience
ofuncertainty.Macmillan,NY.

82

M&AANDINVESTMENTBANKING(8ECTS)
Thecourseisdividedinto4parts:
Part1:Investmentindustryoverview(includingfinancialstatementanalysis)
Part2:TheSellSide:includingadvisory,banking,sales&trading,andclientmanagement.
Part3:TheBuySide:includingfundmanagement,principleinvesting.
Part4:InternationalaspectsofM&AandInvestmentBanking.

2.LearningObjectives.
Attheendofthecourse,studentsshouldbeableto:
A.Describetheroleofthemajorindustryplayersandtheforcesthatdrivesuccess,competition,and
changeintheInvestmentBankingfield.
B.Developprecise,usefulmathematicalandeditorialanalysesforarangeofbusinessproposals.
C.Demonstratethebusinessacumen,inquisitiveness,andresearchskillsnecessarytooperateeffectively
asananalyst/associateinafullserviceinvestmentbankingfirm.
D.Exhibitsocialskillsrequiredinclientdrivenfirminahighlycompetitiveindustry.
Code: SMJ
Major: Elective
CourseYear: 2
Semester: Fall
Hoursofclasses: 60
Prerequisites AccountingandFinancialknowledgerecommended.
Assessment: 85%Finalexam
15%Classparticipation,homework,presentations,andquizzes
Professors: Langer
LearningOutcomes: Inthiscoursestudentslearnhowinvestmentbanksandinvestmentbankers
operate.M&Aisemphasizedinparticular.Publicofferings,venturecapital,
salesandtrading,merchantbanking,debtfinancing,institutionalresearch,
among numerous other aspects of the investment banking field, are also
studied,analyzed,anddiscussed.Emphasisisondevelopinganalyticaltools
and social skills necessary to succeed in the world of international high
finance. The role of a successful analyst and associate operating in such
settings,andworkingonsuchtransactionswillbeemphasizedinparticular.

Additionallystudentswill1)developandutilizeanalyticalandpresentation
toolsinuseatinvestmentbankssuchastheworkinggrouplist,comparable
spreadsheets, financial models, and other analyses and memoranda; 2)
simulate investment banking committee meetings and project deal teams;
and
3)practiceclientdevelopment;4)modeltransactions.
Textbooks: M&A:Miller,MergersandAcquisitions,LegalandPracticalGuide,Wiley,2008

Excerpts:
EY:Ernst&Young,MergersandAcquisitions,Wiley,1994
FS: Fraser, Ormiston, Understanding Financial Statements, 7th Edition,
PrenticeHall,2004
FI: Alexander, Sharpe, Bailey, Fundamentals of Investments, 3rd Edition,
PrenticeHall,2001
RB:Reilly,Brown,InvestmentAnalysisandPortfolioManagement,Thomson,
2006
CC:Greiner,Poulfelt,TheContemporaryConsultant,Thomson,2005
83
SM:Lasserre,GlobalStrategicManagement,Macmillan,2002
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SMJ/0/19FLMBASE/2017

MEETINGWITHTHEBANKINGANDFINANCIALINDUSTRY(4ECTS)
Whatdoes"financeandbanking"mean?

Commercialbanking

Corporate&InvestmentBanking

EquityandDebtcapitalmarkets

VentureCapitalandPrivateEquity

AssetManagement

RoleofRegulators

RoleofSupervisors

Newtrendsinbankingandfinance

CareerinFinance&Banking
Code: SMDEF00012
Major: Elective
CourseYear: 1
Semester: Spring
Hoursofclasses: 40
Prerequisites Bachelor'sdegree(Laureatriennale)
Assessment: writtenexam:shortessayonaselectedtopicofthelectures
Professors: Rotondi
LearningOutcomes: This course is designed for graduates seeking knowledge and skills in
bankingandfinance.Itaimstoprovidetheskillsetrequiredtosuccessfully
operateasaprofessionalinthebankingandfinancialindustry.
Textbooks: Referencereadingmaterialwillbesuggestedduringlectures
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SMDEF00012/0/19HLMBASE/2
017

MICROECONOMICANALYSIS(8ECTS)
Demandtheory,ProductionTheory,Theoryofchoiceunderuncertainty,StaticGamesofComplete
Information,DynamicGamesofCompleteInformation,GamesofIncompleteInformation
Code: SES
Major: Economics
CourseYear: 1
Semester: Fall
Hoursofclasses: 60
84
Prerequisites None
Assessment: Problemsetsandwrittenexam
Professors: Sobbrio
LearningOutcomes: This course is organized in two parts. In the first part, the theory of
consumption, the theory of production, and the theory of choice under
uncertainty are analysed at an advanced level. In the second part, we
provideathoroughintroductionofgametheoryanditsapplications.
Textbooks: A.MasColell,M.D.Whinston,J.R.Green,MicroeconomicTheory,Oxford
UniversityPress;

Gibbons,GameTheoryforAppliedEconomists.
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SES/0/19FLME1/2017
MONETARYTHEORYANDPOLICY(8ECTS)
Itsanadvancedcourseonmonetarytheoryandpolicy,withemphasisonbusinesscyclefluctuations,
financialmarketsimperfectionsandimplicationsformonetarypolicy.
Code: SHG
CourseYear: 1
Semester: Spring
Hoursofclasses: 60
Prerequisites Microandmacroeconomics.Math,Statistics,MoneyandBanking
Assessment: Writtenfinal
Professors: DiGiorgio
LearningOutcomes: Understandingmoneyanditsinteractionswithfinancialandrealvariables
andthemodusoperandiofmonetarypolicy
Textbooks: Di Giorgio G., Economia e politica monetaria, Cedam, Padova, ultima
edizione.
Suggestedreadings
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SHG/0/19FLM1B/2017
PROBABILITYANDAPPLICATIONSTOFINANCE(8ECTS)
1) Background in probability: probability spaces, conditional probabilities, random variables,
expectations,conditionalexpectations,independence,convergenceconcepts.

2)Conditioningwithrespecttoasigmafield.

3)Theoryofdiscretetimemartingales:definitionsandbasicexamples,Doob'sdecomposition,stopped
martigales,inequalities,almostsureconvergenceandinLp,p>1,uniformlyintegrablemartingalesand
convergenceinL1.

4)Applicationsofdiscretetimemartingales'theory:riskprocessesandLundberg'sestimate,gambler's
ruin'sproblem,branchingprocesses,stronglawsoflargenumbers,optionpricingandtheBlackScholes
formula(discretecase).

85
5)Characteristicfunction,inversiontheorem,continuitytheorem,centrallimittheorem.

6)Largedeviations:Cramer'stheorem
Code: M241
CourseYear: 1
Semester: Fall
Hoursofclasses: 72
Prerequisites Knowledge of basic concepts of linear algebra, mathematical analysis,
probabilitytheory
Assessment: Written examination which consists of questions about theoretical
argumentsandrelatedexercises
Professors: Torrisi
LearningOutcomes: The goal of the course is to show how martingale's theory may be
exploitedtoanalyzestochasticmodelsofinterestininsuranceandfinance
Textbooks: Title:ProbabilitywithMartingales
Author:DavidWilliams
Editor:CambridgeUniversityPress
Year:1991

Titolo:Equazionidifferenzialistocasticheeapplicazioni
Author:PaoloBaldi
Editor:Pitagora
Year:2000

PROBABILITY(8ECTS)
AxiomsofProbability
ConditionalProbabilityandIndependence
ConstructionofaProbabilityMeasure
RandomVariables
IntegrationwithRespecttoaProbabilityMeasure
IndependentRandomVariables
ProbabilityDistributions
CharacteristicFunctions
SumsofIndependentRandomVariables
GaussianRandomVariables
ConvergenceofRandomVariables
WeakConvergence
TheLawsofLargeNumbers
TheCentralLimitTheorem
ConditionalExpectation
Martingales
MartingaleInequalities
MartingaleConvergenceTheorems
Code: M168
Major: Finance
CourseYear: 1
Semester: Fall
86
Hoursofclasses: 72
Prerequisites Calculus,multivariatecalculus,linearalgebra.
Assessment: Homework,quizzes,midterm,finalwrittenexam.
Professors: Scarsini
LearningOutcomes: Toprovidethestudentwiththebasictoolsofprobabilitytheory.
Textbooks: Gut,A.
Probability:AGraduateCourse
2nded.
Springer,2013

Jacod,J.,Protter,P.
ProbabilityEssentials
Springer,2004

Williams,D.
ProbabilitywithMartingales
CambridgeUniversityPress,1991

Rosenthal,J.S.
AFirstLookatRigorousProbabilityTheory
WorldScientificPublishingCo.,2007

Grimmett, G.R. and Stirzaker, D.R. Probability and Random Processes 3rd
Edition
OxfordUniversityPress,2001
ISBN13:9780198572220

Resnick,S.
AProbabilityPath
Birkhuser,2003
REALESTATEFINANCE(8ECTS)
Theprogramisaimedatstudyingindeptheverysinglesubjectandactivitypertainingtotherealestate
industry:accordingly,amultidisciplinaryapproachwaschosen,whichenablesthetrainingofresources
thatcanmeettheneedsofamarketorientedtointernationalstandards.
TheCoursewasdesignedforthosewhowishtoinvestontheirowndevelopment,enhancingtheirown
personaleffectiveness,butalsothosewhoaimatseizinganopportunityforpromotingandvalorising
theirhumanresources,byenhancingtheirskilllevel,trainingandspecialisationlevelbenefitingfroma
highlyqualifiedandinternationalleveltrainingopportunity.
Code: SS4
Major: Elective
CourseYear: 2
Semester: Fall
Hoursofclasses: 60
Prerequisites Corporatefinance
Assessment: Oralexam
87
Professors: Casertano
LearningOutcomes: Thecoursewasdesignedtogivepeopleinvolvedinafulltimeprofessional,
managerial and entrepreneurial activity the possibility of a professional
growthandpersonalsuccessinrealestatefinance,managementofterritory
developmentprojects,developmentandmanagementofrealestateassets.
Theprogramisaimedatstudyingindeptheverysinglesubjectandactivity
pertaining to the real estate industry: accordingly, a multidisciplinary
approachwaschosen,whichenablesthetrainingofresourcesthatcanmeet
theneedsofamarketorientedtointernationalstandards.
TheCoursewasdesignedforthosewhowishtoinvestontheirown
development,enhancingtheirownpersonaleffectiveness,butalsothose
whoaimatseizinganopportunityforpromotingandvalorisingtheir
humanresources,byenhancingtheirskilllevel,trainingand
specialisationlevelbenefitingfromahighlyqualifiedandinternational
leveltrainingopportunity.
Textbooks: DidacticMaterials
Papers
ReferenceBooks
Detailedsyllabus: http://www.luiss.edu/cattedreonline/corso/SS4/0/19FLMBASE/2017

RISKMANAGEMENTANDCOMPLIANCE(8ECTS)
The course is designed to introduce and discuss various risk management concepts, tools and
techniques. Using integrated approaches, the course will emphasize discussion on the design and
implementationofriskmanagementpracticesbyfocusingonthemainclassesofrisks(i.e.marketrisks,
credit risks, operational risks, liquidity risks, model risks, etc.). Students will be helped to realize,
understandandmastervariousstateoftheartriskmanagementtheoriesandpractices.Attentionwill
bedevotedalsotothenewdevelopmentsintermsoffinancialregulationbyexplaininghowthenew
regulatoryframeworkwillaffectriskmanagementinthenextfuture.
Code: M174
Major: Elective
CourseYear: 2
Semester: Fall
Hoursofclasses: 60
Prerequisites Therearenorequiredprerequisiteforthiscourse.Howevertosuccessfully
understandthematerialagoodbackgroundinmathand,ingeneral,inthe
quantitativemethods/approachesispreferable.
Assessment: Theoverallassessmentwillbedeterminedasfollows:

midtermexam(written):50%
finalexam(written):50%.

Thewrittenexams(midtermandfinal)willbedonewith"closedbook".
Studentsmaynotbringnotesorothermaterial,butonlyacalculator.All
thequestionsintheexamsaresimilartotheexercisesattheendofeach
chapter of the textbook. Some questions are quantitative (i.e. require
somecomputation).
Professors: Mazzoni
LearningOutcomes: a) To provide students with a comprehensive perspective on risk
managementandpricingconcepts,toolsandtechniques.
88
b) To develop analytical thinking in understanding and implementing risk
managementpractices/policies.
c)Toengagestudentsinactivediscoveryofriskmanagementprinciples.
d) To identify and explain the full risk management process in terms of
identificationofrisksandassociatedpotentialcosts.
Textbooks: Hull, John C., Risk management and financial institutions, Wiley finance
series,2015FourthEdition(textbook).
Theclasswillbebasedonlecturesandreadings.Thetopicscoveredinclass
will follow the same order of exposure of the various chapters of the
textbook,tohelpstudentsunderstanding.
DuringthelecturesPowerPointslideswillbeusedtofacilitatestudents.All
thematerialwillbepostedtothewebsitepriortoeachclass.
THEORYANDPORTFOLIOMANAGEMENT(8ECTS)
1)Intro
2)Portfoliointheoryandpractice
3)Equilibriumincapitalmarkets
4)Fixedincomeinstruments.
5)Portfoliomanagement
Code: M243
CourseYear: 1
Semester: Fall
Hoursofclasses: 60
Prerequisites AssetbytheDepartment.
Assessment: Writtenexam,multiplechoice
Professors: Borri
LearningOutcomes: Thisclasswillteachadvancedtechniquestobuildafinancialportfolio.
Textbooks: Bodie,KaneandMarcus"Investments",lastedition.

Classslides,andadditionalmaterialthatwillbedistributedinclass.
89

MASTERSDEGREESUMMARYTABLEOFCOURSES

COURSE PROFESSOR SEM. LANG. ECTS
ADVANCEDCORPORATEFINANCE BALDI Fall EN 8
ADVANCEDCORPORATEFINANCE PASSADORE Spring EN 8
ADVANCEDCORPORATEFINANCE KERBER Spring EN 8
ALGORITHMICTRADING BARONE Fall EN 4
ASSETMANAGEMENT MICILLO Spring EN 8
ASSETPRICING BORRI Fall EN 8
BLOOMBERG BORRI Spring EN 4
CONOSCEREL'INDUSTRIAASSICURATIVA OLIVIERI Spring IT 4
CORPORATEGOVERNANCEANDCORPORATEFINANCE GUGLIELMETTI Spring IT 4
DIRITTODEIMERCATIEDEGLIINTERMEDIARIFINANZIARICORSO
PELLEGRINI Fall IT 8
PROGREDITO
DIRITTODEIMERCATIEDEGLIINTERMEDIARIFINANZIARICORSO
TROISI Fall IT 8
PROGREDITO
ECONOMETRIAPERLAFINANZA FRANCHI Spring IT 10
ECONOMETRICTHEORY RAGUSA Spring EN 10
ECONOMETRICTHEORY RAGUSA Spring EN 10
ECONOMIADELMERCATOMOBILIARE BARONE Spring IT 8
ECONOMIADELL'INCERTEZZAEDELL'INFORMAZIONE DICAGNO Spring IT 8
ECONOMIAEGESTIONEDEGLIINTERMEDIARIFINANZIARI(CORSO
CURCIO Fall IT 8
PROGREDITO)
EMPIRICALFINANCE NUCERA Fall EN 8
EQUITYMARKETSANDALTERNATIVEINVESTMENTS MORELLI Fall EN 8
EXPERIMENTALANDBEHAVIOURALECONOMICS DICAGNO Fall EN 8
FIXEDINCOME,CREDITANDCOMMODITIES CYBOOTTONE Fall EN 8
INTERNATIONALFINANCE BENIGNO Fall EN 8
INTERNATIONALFINANCIALREPORTINGSTANDARDS PINTO Fall EN 8
INTERNATIONALTRADEANDCOMMERCIALPOLICIES MANZOCCHI Fall EN 8
M&AANDINVESTMENTBANKING LANGER Fall EN 8
MACROECONOMICANALYSIS REICHLIN Spring EN 8
MANAGERIALECONOMICS SCHIVARDI Fall EN 8
MARKETLAWANDREGULATION DINOIA Spring EN 8
MARKETLAWANDREGULATION SPAGNOLO Spring EN 8
MATHEMATICALMETHODSFORECONOMICSANDFINANCE GOZZI Fall EN 8
MATHEMATICALMETHODSFORECONOMICSANDFINANCE GOZZI Fall EN 8
MATHEMATICALSTATISTICS LISEO Fall EN 8
MEETINGSWITHTHEBANKINGANDFINANCIALINDUSTRY ROTONDI Spring EN 4
METODIMATEMATICIPERECONOMIAEFINANZA GOZZI Fall IT 8
MICROECONOMICANALYSIS SOBBRIO Fall EN 8
PROBABILITA'EAPPLICAZIONIALLAFINANZA TORRISI Fall IT 8
PROBABILITY SCARSINI Fall EN 8
REALESTATEFINANCE CASERTANO Fall EN 8
RISKMANAGEMENTANDCOMPLIANCE MAZZONI Fall EN 8
STOCHASTICPROCESSES SCARSINI Fall EN 8
TEORIAEGESTIONEDELPORTAFOGLIO BORRI Fall IT 8
TEORIAEPOLITICAMONETARIA DIGIORGIO Spring IT 8

90
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Detailed information for guest students about life in Rome (cost of living, public transportation,
accomodation,libraries,administrativeformalities,etc.)isavailableonourwebsite.
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