Area studenti

Home Course catalogue Second cycle degree Economics, Management, And Finance General Info

#WEUNITUS

General Info

SUBJECT SEMESTER CFU SSD LANGUAGE
- - ELECTIVE COURSE

 		First Semester 8 ita
121604 - ACCOUNTING AND CONTROL FOR PUBLIC MANAGEMENT

 		First Semester 8 ECON-06/A ITA

Learning objectives

The course aims to illustrate to the student the
general characteristics of the “universal” company and the public administration. It is proposed, in particular, to identify the organizational and management logics of public administration, analyzing the main change processes that have involved the whole public administration in recent years.
Dublin Descriptors:
a) KNOWLEDGE AND UNDERSTANDING: knowledge
and understanding of the concept of "universal" company and public company.
b) APPLYING KNOWLEDGE AND UNDERSTANDING:
ability to apply the knowledge acquired and to understand and solve problems relating to the management and accounting and budget information system of companies and public administrations (with particular reference to local authorities).
c) MAKING JUDGEMENTS: ability to use the acquired knowledge on a conceptual and operational level with autonomous assessment skills and skills in the various application contexts.
d) COMMUNICATION SKILLS: acquire clear and effective communication skills, thanks to technical language typical of the discipline
e) LEARNING SKILLS: acquire adequate learning skills that allow you to independently address and deepen the main issues of the discipline. This ability will be developed through the active involvement of students through discussions in the classroom and exercises on specific topics related to the course.
119991 - STATISTICAL METHODS FOR THE ENTERPRISE

 		First Semester 8 STAT-02/A ita

Learning objectives

The course in Statistical Methods for Business provides students with theoretical and applied skills for data analysis in business contexts, with specific reference to marketing, customer satisfaction, segmentation and user profile analysis. The course combines statistical methods and programming tools in R, with the aim of developing students’ ability to analyse and interpret data and to support data-driven business decisions.

At the end of the course, students will have acquired:

Knowledge and understanding: fundamental knowledge of the main statistical methods for data analysis in business contexts, with specific attention to applications in marketing, customer satisfaction, and the analysis of user behaviour and profiles. Students will also acquire practical knowledge of programming and data analysis tools in R needed to implement the techniques presented during the course.

Applying knowledge and understanding: ability to apply statistical techniques and programming tools in R to real business data and problems, selecting the most appropriate methods according to the objectives of the analysis. Students will be able to use empirical results to support operational and strategic decisions and to propose data-driven solutions in business contexts.

Making judgements: ability to critically assess data quality, the suitability of the statistical techniques used, the reliability of the results obtained and their relevance to the business problem under analysis. Students will also be able to compare alternative methodological approaches and to interpret results while taking into account the limitations of the analyses performed.

Communication skills: ability to present and discuss the results of statistical analyses conducted on business data in a clear, structured and technically appropriate way. Through the preparation and discussion of the final project, students will develop skills in communicating the methods used, the outputs produced and the main operational implications arising from the analysis.

Learning skills: ability to autonomously deepen their knowledge of methods and tools for business data analysis, also through the critical comparison of different methodological solutions. Students will be able to update their statistical and computing skills and adapt them to new problems, datasets and applied contexts in the business field.
121694 - BUSINESS VALUATIONS

 		First Semester 8 ECON-06/A ITA

Learning objectives

The course aims to provide advanced and up-to-date knowledge in the fields of business valuation, extraordinary transactions, and investment decision-making processes. Students will acquire both theoretical knowledge and practical tools to understand, analyze, and estimate the economic value of companies in different business and institutional contexts.
Particular attention will be devoted to the critical analysis of the main valuation methodologies (income-based, cash-flow-based, asset-based, and market-based approaches), highlighting their assumptions, limitations, and appropriate fields of application.
Upon completion of the course, students will be able to:
✔ identify and analyze the key economic, financial, and strategic drivers of corporate value;
✔ critically assess financial statements, business plans, and market information for valuation purposes;
✔ select and apply the most appropriate valuation methodology according to the characteristics of the company and the purpose of the valuation;
✔ interpret valuation outcomes from a professional and decision-making perspective;
✔ understand the role of valuation in mergers and acquisitions, contributions in kind, demergers, transformations, shareholder withdrawal procedures, and leveraged buyouts;
✔ develop analytical and problem-solving skills through the discussion of real-world business cases and investment simulations;
 adopt an integrated valuation perspective that combines financial, strategic, organizational, and risk-related factors.
Through a practice-oriented approach inspired by the activities of financial advisors, audit firms, institutional investors, and private equity funds, the course also aims to develop students' ability to formulate independent and well-supported professional judgments in situations characterized by uncertainty and incomplete information.
121608 - BUSINESS AND ECONOMIC DEVELOPMENT

 		Second Semester 8 ECON-01/A ITA

Learning objectives

A) LEARNING OBJECTIVES
The aim of the course is to analyze the interaction between global economic dynamics, local production systems, and individual firms from the perspective of sustainable industrial development. Within this framework, the course will examine the main elements of development processes at both the global and local levels, with particular attention to issues related to technological progress and innovation processes within individual firms as well as inter-firm networks, which are increasingly connected to sustainability challenges, while taking into account the strategic role of development policies. These analyses will be complemented by specific insights into dominant market structures and related business strategies, as well as the role of global value chains and multinational enterprises.

B) EXPECTED LEARNING OUTCOMES

1. Knowledge and understanding:
Students will acquire knowledge of economic theories in order to understand the main global economic dynamics, as well as the processes characterizing local production systems and individual firms

2. Applying knowledge and understanding:
Students will learn the essential tools for the economic analysis and empirical evaluation of business strategies, identifying their main challenges and opportunities.

3. Making judgements:
Students will be able to analyze economic development processes, identifying their significant relationships, as well as the main critical issues and opportunities according to different theoretical approaches with an appropriate critical spirit.

4. Communication skills
Students will be able to present economic concepts and arguments clearly and rigorously, making appropriate use of formulas, graphs, and logical relationships.

5. Learning skills
Students will be able to independently and critically rework the knowledge acquired in the area of sustainable industrial development and related structural change processes at sectoral and enterprise levels.
NEW GROUP - - - -
INTERNATIONAL MONETARY ECONOMICS AND POLICY First Semester 8 ECON-02/A ita

Learning objectives

Educational objectives: The course aims to provide
advanced knowledge on economic and financial issues relating to the monetary economy.
1) Knowledge and understanding; at the end of the course the student will have to demonstrate that they have understood the main issues of international monetary economics (money, exchange rates, crises, innovations and policy and regulatory measures).
2) Applying knowledge and understanding; The student must be able to read and interpret papers and books on advanced financial economics, as well as evaluate their empirical and methodological contents.
3) Autonomy of judgment (making judgments); At the end of the course, the student will be able to independently read papers and books on advanced financial economics, implementing critical analysis in research.
4) Communication skills; Knowledge of the general part and of the special topics of the course will allow the student to acquire the technical language of the subject allowing them to effectively deal with the discussion of the topics covered
5) Ability to learn (learning skills). At the end of the course, the student will be able to undertake, even independently, subsequent in-depth studies regarding the topics addressed.
GRUPPO OPZIONALE AFFINI AMBITO AZIENDALE 24-25 CURR. AC - - - -
BUSINESS GROUPS AND FINANCIAL STATEMENT ANALYSIS First Semester 8 ECON-06/A ITA

Learning objectives

The purpose of the course is to provide an overview of
the role of accounting information in the perspective of its preparation and use by stakeholders. In particular, it is intended to provide the student with knowledge of two thematic areas: group formation and consolidated account and financial statements analysis to make different economic decisions.
Learning Objectives
1) Knowledge and understanding Knowing the tools of analysis, about groups accounts and financial statements analysis both in their theoretical construction and in their implementation. Civil code regulation, national and international financial reporting standards.
2) Applied knowledge and understanding Learning of group analysis tools and interpreting financial statements. Analysis of case studies.
3) Autonomy of judgment To be able to apply instruments for analyzing business groups and financial statements in a critical and independent way in order to be able to write a report on financial position and performance of operations of a business entity.
4) Communication skills To be able to express the results of a financial statements analysis by preparing a report and accounting documents.
5) Ability to read published accounting information of companies and groups in order to express an assessment of the economic, financial and equity conditions
120410 - PROFESSIONAL ENGLISH FOR MARKETING AND BUSINESS

 		Second Semester 4 ANGL-01/C ENG

Learning objectives

This course aims to prepare to know and use the
English language with the aim of progressively achieving a level B eligibility. The comprehension and expression of oral language is privileged, without neglecting the linguistic competence required for a clear and correct written expression. For this purpose, the adopted text allows students to personalize what is highlighted in the classroom through further revision and self-learning systems.
The technical linguistic area of exercise will concern marketing and administration, with appropriate formal lexical insights and drafting of special glossaries useful to the profession. Presentations of scientific topics, conversations, debates, analysis of experiences and personal research: all this converges to form and stimulate creative skills, inspired by the most current issues
15797 - INTERNATIONAL ACCOUNTING

 		Second Semester 8 ECON-06/A ita

Learning objectives

The course aims to lead the student to a significant
knowledge of financial reporting regulated by international accounting standards and aims to make appreciate specificities and elements of distinction compared to other accounting regulations. By understanding the concepts that characterise financial reporting and analysing their regulation in terms of accounting standards, at the end of the course the student will have acquired an adequate level of knowledge of the criteria for forming financial reporting and its interpretation.
Knowledge and understanding - At the end of the learning process the student will have the necessary knowledge to understand financial reporting prepared in compliance with accounting standards. Applied knowledge and understanding - The student should be able to understand accounting standards and to correctly interpret financial reporting prepared according to these standards.
Autonomy of judgment - The student must be able to develop his own autonomy of judgment on the correctness of the assessments made on the basis of different accounting regulations.
SUBJECT SEMESTER CFU SSD LANGUAGE
GRUPPO OPZIONALE AFFINI AMBITO AZIENDALE 24-25 CURR. AC - - - -
ANALYSIS AND MANAGEMENT OF BUSINESS PROCESSES Second Semester 8 ECON-10/A ITA

Learning objectives

The course Business Process Analysis and Management aims to provide students with the theoretical knowledge and methodological tools required to understand, analyze, and manage business processes, fostering an integrated view of organizational and managerial dynamics within modern firms.
With regard to Knowledge and Understanding, the course enables students to acquire a solid foundation in process management principles, process mapping and analysis methodologies, and the relationships among business processes, organizational structures, information systems, and organizational performance.
Concerning Applying Knowledge and Understanding, students will be able to use analytical models and operational tools to examine business processes, identify inefficiencies and critical issues, assess process performance, and propose improvement actions aligned with the strategic objectives of the organization.
In terms of Making Judgements, the course promotes the ability to interpret business data and information, critically evaluate the effectiveness and efficiency of organizational processes, and formulate well-founded recommendations for process improvement based on economic, organizational, and managerial considerations.
With reference to Communication Skills, students will develop the ability to describe and represent business processes using appropriate technical language, effectively communicate the results of their analyses, and discuss improvement proposals with both specialist and non-specialist audiences.
Finally, regarding Learning Skills, the course provides students with the competencies necessary to independently deepen their understanding of topics related to process management, organizational innovation, and digital transformation, thereby supporting lifelong learning and further academic or professional development in the fields of management and organization.
NEW GROUP - - - -
STRATEGIC MANAGEMENT AND PERFORMANCE MEASUREMENT Second Semester 4 ECON-07/A ITA

Learning objectives

The course explores the relationships between strategic management and performance measurement, with particular focus on the integration of planning, monitoring and evaluation in support of coherence between strategic objectives and operational activities from a value perspective. The analysis extends to the dynamics of value creation, co-creation with key stakeholders, and the identification of practices that destroy or co-destroy value. Through the application of established models and tools – the Balanced Scorecard, the Business Model Canvas, and Key Performance Indicators – students learn how to align resources with strategic priorities, support informed decision-making, and move beyond a control perspective confined to the financial dimension, towards a holistic and sustainability-oriented approach to management. KNOWLEDGE AND UNDERSTANDING Upon completion of the course, students will have acquired knowledge of the main tools for aligning operational activities with strategic objectives from a value perspective: the Balanced Scorecard (BSC), which translates strategic vision into four perspectives (financial, customer, internal processes, and learning and growth); the Business Model Canvas, which enables organisations to define, describe and analyse the logic by which they create, deliver and capture value; and Key Performance Indicators (KPIs), i.e. measurable indicators for tracking success and its impact on organisational value. Students will also have understood the significance of the shift from traditional financial control to an integrated approach encompassing non-financial measures and organisational well-being indicators.
APPLYING KNOWLEDGE AND UNDERSTANDING Students will be able to design and manage the continuous performance management process – encompassing planning, monitoring and evaluation – in order to ensure coherence between defined strategic objectives and the operational activities undertaken, going beyond the logic of annual appraisal. They will further be able to analyse operational activities to understand how these generate value (through innovation, efficiency and customer satisfaction), co create it together with external stakeholders, or conversely reduce it (through waste, inefficiencies and strategic risks), to the point of giving rise to phenomena of shared value co-destruction. MAKING JUDGEMENTS Upon completion of the course, students will be able to critically evaluate decisions taken and analyses conducted, verify the correct application of the tools acquired, and identify the corrective actions required at the various stages of the strategic management and performance measurement process. They will also be able to assess the appropriateness of the tools adopted in relation to the specific competitive context in which the organisation operates. COMMUNICATION SKILLS Upon completion of the course, students will be able to present, using appropriate technical language, the performance measurement and management system they have designed, explaining why it is suited to the relevant organisational context. They will further be able to articulate the results obtained through the application of the models used, clarifying how these supported operational and strategic decisions and what revisions may be warranted in light of the outcomes recorded.
LEARNING SKILLS Students will develop the ability to progressively refine their analyses, the tools adopted and the decisions taken, keeping them consistently attuned to the evolution of the competitive context in which the organisation operates. The learning process will be supported by the integration of individual study, guided application of business cases, and critical reflection on feedback received.
CORPORATE FINANCE AND CORPORATE ADVISORY Second Semester 8 ECON-09/B ITA

Learning objectives

The course provides an advanced examination of the theoretical and practical foundations of corporate finance, with particular emphasis on investment decisions, financing decisions, and capital structure.
The course systematically develops capital budgeting processes through the modeling of incremental cash flows, the determination of the weighted average cost of capital (WACC), and the application of valuation criteria based on discounted cash flow techniques. These tools are integrated with risk analysis and value creation measurement. Significant attention is devoted to capital structure theory and to models for determining the cost of equity and debt capital, as well as to business valuation through discounted cash flow (DCF) approaches and relative valuation methods. Particular focus is placed on estimation issues, underlying assumptions, and the consistency between valuation models and financial decisions. Major corporate finance transactions are analyzed as applications of corporate finance within corporate advisory activities, with specific reference to their effects on leverage, risk, and shareholder value.
The course also examines the role of systematic and idiosyncratic risk factors in value determination, including a discussion of the integration of ESG (Environmental, Social, and Governance) variables into cost of capital estimation and valuation processes. The teaching approach combines theoretical rigor, analytical formalization, and real-world case applications, with the aim of providing advanced competencies consistent with both academic research and professional practice in corporate finance and advisory services.
Upon successful completion of the course, students will have acquired:
a) advanced knowledge of the main theories and tools of corporate finance, with particular emphasis on investment decisions, financing decisions, capital structure, business valuation, and financial risk management (knowledge and understanding);
b) the ability to apply corporate finance tools to the valuation of firms and investment projects, the estimation of the cost of capital, and the analysis of how financial decisions affect value creation (applying knowledge and understanding);
c) the ability to critically assess financial decisions and corporate transactions, considering risks, opportunities, and implications for firm value (making judgements);
d) the ability to present and discuss financial analyses and business valuations using appropriate technical language and evidence-based arguments (communication skills);
e) the ability to independently deepen their knowledge of advanced corporate finance topics and continuously update their competencies through academic and professional sources (learning skills).
CONTROL GOVERNANCE AND INTERNAL AUDITING Second Semester 8 ECON-06/A ITA

Learning objectives

The course explores the principles of control governance, internal control systems and risk management, focusing on the role of Internal Auditing and the other actors involved in the control framework. Through the analysis of major international models and standards, the course develops skills to assess the effectiveness of internal controls, support governance processes and contribute to the continuous improvement of the Internal Control and Risk Management System (ICRMS).
.

a) Knowledge and understanding


At the end of the course, students will have acquired advanced knowledge of control governance, internal control systems, risk management and Internal Auditing. In particular, students will be able to understand:
1. the nature, objectives and components of the Internal Control and Risk Management System;
2. the role of governance bodies, control bodies, statutory auditors, supervisory bodies and corporate functions involved in control processes;
3. the main regulatory references concerning corporate governance, internal controls, statutory audit, corporate administrative liability and adequate organizational structures;
4. the main international internal control and risk management models, with particular reference to the COSO Internal Control framework, COSO ERM and the Three Lines Model;
5. the role of Internal Auditing as an independent assurance and advisory function aimed at assessing the adequacy and effectiveness of governance, risk management and control processes.
b) Applying knowledge and understanding

English
At the end of the course, students will be able to apply the knowledge acquired to the practical analysis of corporate governance, internal control and risk management systems. In particular, students will be able to:
1. read and interpret a company’s control governance structure, identifying roles, responsibilities, information flows and possible overlaps or weaknesses in control safeguards;
2. analyze business processes in order to identify risks, key controls, weaknesses and possible corrective actions;
3. use the main professional and methodological Internal Auditing models to plan audit engagements, define objectives, scope, risks, audit procedures and expected results;
4. understand the relationship among Internal Audit, risk management, compliance, statutory audit, board of statutory auditors, supervisory bodies and management;
5. apply risk-based audit, process auditing and control design and operating effectiveness assessment techniques to business cases;
6. connect Internal Auditing activities to the improvement of the internal control and risk management system, the quality of reporting and the reliability of corporate information.

c) Making judgements
At the end of the course, students will have developed the ability to make autonomous and reasoned assessments of the adequacy of governance structures, internal control processes and Internal Auditing activities.
In particular, students will be able to:
1. critically assess whether an internal control system is consistent with the complexity, size, industry and risk profile of the organization;
2. distinguish between formal compliance and the substantive effectiveness of control safeguards;
3. identify organizational weaknesses, lack of segregation of duties, insufficient information flows or inadequate accountability;
4. express a reasoned judgement on the effectiveness of controls in relation to corporate objectives, operational risks, compliance risks, reporting risks and fraud risks;
Independent judgement is developed through business case analysis, exercises, risk scenario discussions and simulations concerning the different actors of corporate governance.

d) Communication skills
At the end of the course, students will be able to communicate clearly, technically and logically their analyses concerning control governance, risks, internal controls and Internal Auditing.
In particular, students will be able to:
1. correctly use the technical language of corporate governance, internal control, risk management, compliance and audit;
2. present business processes, risks, controls, identified deficiencies, causes, impacts and corrective actions in a structured manner;
3. participate in discussions, individual or group work and operational simulations, supporting their evaluations with method, evidence and regulatory or professional references;
4. translate control analysis into operational recommendations that are understandable and useful for improving business processes.
In summary, students should be able to transform the technical analysis of the internal control system into professional communication useful for corporate decision-making, in line with the assurance and advisory activity.

e) Learning skills
At the end of the course, students will have developed autonomous learning and continuous updating skills in the fields of governance, internal control, risk management and Internal Auditing.
In particular, students will be able to:
1. independently update their knowledge of the evolving regulatory framework concerning corporate governance, statutory audit, Legislative Decree 231/2001, adequate organizational structures and the responsibilities of corporate bodies;
2. develop a study method focused on process analysis, risk identification and control assessment;
3. transfer the knowledge acquired to different business contexts, including those characterized by organizational complexity, technological innovation, increasing regulation and greater attention to sustainability and integrated compliance;
4. undertake further professional specialization paths in Internal Auditing, risk management, compliance, statutory audit, internal control and corporate governance.
Learning skills are particularly relevant because internal control systems and audit methodologies constantly evolve, also in connection with process digitalization, data analytics, control automation and the need to address emerging risks. Therefore, the course does not merely transmit technical notions, but aims to develop a permanent capacity for critical and professional updating.
MANAGEMENT CONTROL AND BUSINESS PLAN Second Semester 8 ECON-06/A ita

Learning objectives

The course aims to train professionals and managers specialized in strategic and operational business governance. In summary, the main training objectives are divided into three main areas:
a) Strategic Competence and Planning (the "Business Plan");
b) Performance Measurement and Reporting (the "Management Control");
c) Transversal and Digital Skills.

1. Knowledge and Understanding.
Upon completion of this master's degree program, students will acquire a solid foundation of theoretical knowledge and advanced understanding. Students will be able to understand advanced strategic planning models and the operating mechanisms of various organizational structures, both in traditional corporate settings and in start-ups and multinational corporations. Furthermore, students will be able to understand the causal links between management's strategic decisions and the economic, financial, and capital results visible on the balance sheet. In short, the "knowledge and understanding" in this course is not limited to abstract theory, but translates into the ability to interpret macroeconomic trends and internal company data to decode complex competitive scenarios.

2. Applied knowledge and understanding.

Upon completion of this master's degree program, students will not only possess theoretical knowledge, but will also have developed the skills to concretely apply control and planning models in real, complex, and often uncertain business contexts. Students will be able to apply their knowledge to:
a) Design and implement control systems;
b) Develop and validate business plans;
c) Use digital and advanced reporting tools.
In the methodological approach, students develop these application skills through highly interactive teaching methods, which include ongoing analysis of real business cases, computer-based business simulations, and group project work.
3. Independent judgment.
At the end of the master's program, this skill translates into the ability to go beyond simple mathematical calculations to critically interpret business reality, making strategic decisions even in the face of incomplete, ambiguous, or conflicting data. A good analyst or controller doesn't simply say "costs increased by 5%," but knows how to assess why they increased and what this means for the company's future. Upon completion of the course, students will be able to demonstrate independent judgment in four key areas:
3.1 Critical interpretation of data (Beyond the numbers);
3.2. Choosing the most appropriate control models;
3.3. Balancing short- and long-term objectives;
3.4. Ethical responsibility and sustainability (ESG).
In short, independent judgment transforms graduates from calculation makers to strategic consultants. It is the ability to take responsibility for managerial opinion, formulating clear recommendations to top management even when the market scenario is highly unpredictable.

4. Communication skills.
By the end of this master's program, students will have developed the ability to act as a communication bridge between complex numerical data and strategic management decisions. This isn't just about public speaking, but also about translating the technical language of finance and accounting into clear, actionable guidance for everyone in the company. Upon completion of the course, students will be able to:
1. Translate data into decisions (Data Storytelling);
2. Interact cross-functionally;
3. Use international standards and tools.
In short, the modern controller is not an accountant isolated in his office, but an internal consultant. Therefore, his or her primary skill is knowing how to communicate what lies behind the numbers, transforming a spreadsheet into a strategic guide for the entire organization.
5. Learning Ability.
Within the context of the course, which focuses on management control and strategic planning, this pillar defines the student's autonomy in maintaining their skills up to date over time, a fundamental skill in a rapidly changing economic and technological environment. Upon completion of the course, students will have developed the methodological skills to:
a) Self-update on regulatory and doctrinal matters;
b) Adapt to new technological tools;
c) Methodological research and independent problem solving.
In short, the course does not simply teach how to develop a business plan today, but also provides the mindset needed to understand how management control will evolve in the future. Students acquire the autonomy to successfully undertake further training or international professional certification programs.
119992 - LAW OF EXTRAORDINARY TRANSACTIONS

 		First Semester 8 GIUR-02/A ita

Learning objectives

Learning Objectives
The course aims to provide students with a systematic understanding of extraordinary transactions in company law, with particular reference to their role as instruments for corporate reorganization, changes in ownership structures, and the reallocation of control. Within this framework, the course examines the main transactions of transformation, merger, demerger, and transfer of control, also in relation to the needs of corporate restructuring and business continuity.

Knowledge and understanding
By the end of the course, students will have acquired an in-depth knowledge of the legal framework governing extraordinary transactions, including their underlying conditions, structure, and purposes. Students will be able to identify the interrelations between the different transactions and the general principles of company law, with particular regard to the protection of shareholders and creditors.

Applying knowledge and understanding
Students will be able to apply the knowledge acquired to the analysis of practical cases, assessing the legal implications of extraordinary transactions in relation to the specific objectives pursued and the characteristics of the firm, as well as their effects on control structures, financial structure, and the position of shareholders and creditors.

Making judgements
Students will develop the ability to critically assess extraordinary transactions as alternative tools for corporate reorganization, identifying their systemic implications and the balance between the interests involved, with particular reference to the protection of shareholders and creditors and the preservation of firm value, also in contexts of crisis or restructuring.

Communication skills
Students will be able to present legal issues related to extraordinary transactions in a clear and rigorous manner, using appropriate technical language and demonstrating the ability to synthesize and argue effectively, also in relation to complex practical problems.

Learning skills
Students will acquire the methodological tools necessary to independently update and deepen their knowledge, taking into account the evolution of the legal framework, as well as developments in case law, legal scholarship, and practice relating to extraordinary transactions.

GRUPPO OPZIONALE AFFINI AMBITO AZIENDALE 24-25 CURR. AC - - - -
MANAGEMNT OF INFORMATION SYSTEMS Second Semester 8 ECON-08/A eng

Learning objectives

The course addresses the digital transformation of businesses
and its implications for organizational and operational models. It invites students to reflect on the changes, opportunities, risks, and consequences of using digital technology in organizational design and change processes, as well as in decision-making processes and operating systems.
The course aims to provide students with theoretical knowledge and practical tools regarding the role of digital technology within organizations, and the skills and processes required to manage the digital transformation process.
During the course, students will engage in individual and group learning activities (both theoretical and applied). Participation in the course is intended to foster the development of the following knowledge and skills in students:
Knowledge and Understanding: Understand the nature and impact of digital technology changes on organizations and on the behavior of individuals and groups.
Understand the main information systems used by businesses.
Understand the tools for process analysis and digital transformation. Knowledge of the tools and processes for analyzing information needs and designing data presentation and analysis tools to meet them.
Applied knowledge and understanding: Recognize areas of practical application of digital technologies to solve organizational problems.
To understand and apply approaches, methodologies, and tools for analyzing and redesigning organizational processes to improve efficiency and support process automation.
Know how to analyze an organization's information needs and how to develop tools to address them.
Know how to organize a digital transformation process, plan it, estimate its effort, and monitor its execution using project management tools.
Making independent judgments
Know the main variables that influence a digital transformation process, being able to analyze them to formulate judgments and assessments on the potential use of digital technologies for organizational management, change, and innovation.
Communication Skills
During the course, students will develop the ability to present, argue, and publicly discuss digital technologies, the transformative potential of digital technologies in organizations, and the results of their analyses and assessments of the transformative potential of digital technologies.
Learning Skills
The ability to approach the learning process in a completely autonomous and self-directed manner.
NEW GROUP - - - -
FINANCIAL ECONOMICS Second Semester 8 ECON-01/A ita

Learning objectives

A. OBJECTIVE.
The goal of the course is to provide students with knowledge and understanding of the theoretical and practical tools that explain how the financial system works, as well as its interactions with the real economy, both at the macro- and micro-level, by focusing on the behavior of financial intermediaries in transferring funds from surplus units (savers) to deficit units (investors).
B. EXPECTED LEARNING OUTCOMES
1. KNOWLEDGE AND UNDERSTANDING
Acquire knowledge and tools, both theoretical and practical, that allow students to understand theories of financial economics. Such knowledge will be acquired through frontal lectures supported by advanced textbooks and journal articles reading, and participation to thematic seminars.
2. APPLYING KNOWLEDGE AND UNDERSTANDING
Students will be able to apply the acquired knowledge and methodology to practical examples in a way to assess the main concerns and opportunities of the modern financial system. Such skills will be developed mainly through exercises and an active debate in the classroom.
3. MAKING JUDGEMENTS
Ability to identify and explain the relationships among the agents of the financial sector, as well as their interaction with the real side of the economy.
Students will be able to identify, collect and interpret relevant data on the financial indicators, in connection with real variables, in order to i) provide a comparative analysis with respect to other economic indicators from a global perspective, and to ii) stimulate reflections on issues related to financial economics. Active discussions among students will be encouraged.
4. COMMUNICATIONS
Students will acquire the ability to present the issues of the course with adequate language and appropriate analytical skills (formulae, graphics, and explanation of causal links). Such ability will be implemented through exercises. Students will be able to communicate with peers and supervisors about their understanding on basic topics of financial economics.
5. LEARNING SKILLS
Students will develop the ability to independently and critically reconstruct the basic concepts of financial economics, enabling them to
independently undertake any further study.
GRUPPO OPZIONALE ALTRE ATTIVITA' CURR.AC 24-25 - - - -
PROFESSIONALIZING ACTIVITY Second Semester 8 ita
PROFESSIONAL ACTIVITY Second Semester 4 ita
AI LABORATORY Second Semester 4 ITA

Learning objectives

The laboratory aims to provide students with operational knowledge and practical skills in the use of Artificial Intelligence (AI) tools to support management, consulting, and management control processes. Through hands-on activities, practical exercises, and case study analyses, students will become familiar with the main applications of AI in organizational settings while developing a critical understanding of the opportunities, limitations, and ethical implications associated with its use.
The course is designed to foster the integration of AI technologies into decision-making, analytical, and innovation processes, promoting a responsible and informed approach to the adoption of emerging digital technologies.
Learning Outcomes According to the Dublin Descriptors
1. Knowledge and Understanding
Upon completion of the laboratory, students will be able to:
● understand the fundamental concepts, terminology, and main applications of Artificial Intelligence in business environments;
● recognize the opportunities offered by AI in management, consulting, and management control processes;
● understand the ethical, organizational, and regulatory implications associated with the use of AI technologies.
2. Applying Knowledge and Understanding
Students will be able to:
● use Artificial Intelligence tools to support analysis, information processing, and problem-solving activities;
● apply AI-based solutions to managerial, organizational, and decision-making challenges;
● integrate AI-generated outputs into business planning, consulting, and management control processes.
3. Making Judgements
Students will be able to:
● critically evaluate the reliability, quality, and relevance of information generated by AI systems;
● identify opportunities, risks, and limitations associated with the adoption of AI tools within organizations;
● make informed judgments regarding the suitability of AI-based solutions for specific business contexts.
4. Communication Skills
Students will be able to:
● effectively communicate results, analyses, and recommendations supported by AI tools;
● present AI-based innovative solutions to audiences with different levels of technical expertise;
● collaborate effectively in teams using digital and AI tools to support project-based activities.
5. Learning Skills
Students will be able to:
● independently learn how to use emerging AI tools and applications;
● continuously update their knowledge and skills in response to rapid technological developments;
● develop a lifelong learning mindset and an innovation-oriented approach to digital transformation.
Expected Competencies
By the end of the laboratory, students will have acquired practical competencies in the use of Artificial Intelligence to support business analysis, managerial consulting, decision-making processes, and management control activities. They will also develop a critical awareness of the organizational, ethical, and strategic implications arising from the adoption of AI technologies.
LABORATORY FOR BUSINESS CREATION Second Semester 4 ECON-06/A ita

Learning objectives

The Business Creation Laboratory aims to provide students with practical and experiential learning opportunities focused on the development and assessment of entrepreneurial initiatives. The laboratory enables participants to apply the managerial, strategic, accounting, and financial knowledge acquired during the Master's degree program to the design and development of a new business venture.
Upon completion of the laboratory, students will be able to:
identify and evaluate entrepreneurial opportunities in dynamic and competitive environments;
analyze target markets and design appropriate business models;
develop a comprehensive business plan, including strategic, organizational, marketing, and financial components;
apply planning, budgeting, and management control tools to support entrepreneurial decision-making;
assess the economic, financial, and operational feasibility of a business venture;
understand the main legal, fiscal, and administrative issues related to business start-up processes;
work effectively in multidisciplinary teams, demonstrating problem-solving, project management, and leadership skills;
communicate and present business projects effectively to potential investors, partners, and other stakeholders.
Learning Outcomes
At the end of the laboratory, students will be able to demonstrate:
Knowledge and Understanding
Understanding of the entrepreneurial process and the key tools supporting business creation and development.
Applying Knowledge and Understanding
Ability to apply managerial, strategic, accounting, and financial techniques to the design and evaluation of entrepreneurial initiatives.
Making Judgements
Ability to critically assess the feasibility, sustainability, and growth potential of a business project.
Communication Skills
Ability to prepare and deliver effective business reports, business plans, and entrepreneurial pitches tailored to different stakeholders.
Learning Skills
Ability to integrate multidisciplinary knowledge and independently acquire new competencies relevant to entrepreneurship, consulting, and business development.
SUSTAINABILITY, ACCOUNTING AND INTEGRATED REPORTING LABORATORY Second Semester 4 ECON-10/A ITA

Learning objectives

Knowledge and Understanding:
- Students will acquire an in-depth understanding of fundamental principles, approaches and mechanisms of functioning of a circularity-oriented economic system.
- Students will gain an in-depth understanding of the principles that guide businesses of all sizes and economic sectors to realise and communicate social responsibility and sustainability
- Students will gain an in-depth understanding of the reporting tools and models used by companies to communicate economic, social and environmental responsibility
Ability to Apply Knowledge and Understanding
- Students will develop theoretical knowledge and practical tools to critically analyse the debate on corporate responsibility and reporting
Autonomy of Judgement:
- Students will be able to address the most recurring sustainability and circular economy issues and apply standards for sustainable reporting
- Students will be able to evaluate circular economy and sustainability frameworks and the applicability of Circular Economy models
Communication Skills:
- They will develop the ability to effectively communicate sustainability principles and practices to various stakeholders
- They will be able to write clear and persuasive reports and presentations on the results of their sustainability assessments.
Learning skills:
- They will acquire terminologies and descriptive methods specific to sustainability reporting, improving their ability to analyse and communicate sustainable activities.
GRUPPO AFFINI GIURIDICI - - - -
BUSINESS CRISIS AND INSOLVENCY LAW Second Semester 8 GIUR-02/A ita

Learning objectives

Learning Objectives
The course aims to provide students with a solid grounding in the law of corporate crisis and insolvency, with particular focus on early warning mechanisms and crisis management tools, on both negotiated and formal insolvency proceedings, and on the range of possible solutions available for addressing financial distress.

Knowledge and understanding
By the end of the course, students will have acquired an in-depth knowledge of the legal framework governing corporate crisis and insolvency, including its underlying principles, structure, and objectives, as well as the interrelations between early warning tools, negotiated solutions, and formal insolvency procedures. This knowledge will be complemented by the ability to interpret legal rules in light of the underlying economic reality, identifying the dynamics of distressed businesses and the policy concerns that shape legislative choices.

Applying knowledge and understanding
Students will be able to apply the knowledge acquired to the analysis of concrete cases, identifying and assessing the most appropriate instruments for managing crisis and insolvency in light of the specific financial conditions of the firm and the interests involved, also through a coordinated reading of statutory provisions, practical developments, and case law.

Making judgements
Students will develop the ability to critically navigate the various solutions offered by the legal system, assessing the implications of choosing between negotiated instruments and formal insolvency procedures, as well as between liquidation-oriented solutions and those aimed at business continuity, in light of the balance between creditor protection, preservation of firm value, and broader market interests.

Communication skills
Students will be able to present legal issues relating to corporate crisis and insolvency in a clear and rigorous manner, using appropriate technical language and demonstrating the ability to synthesize and argue effectively, also in relation to complex practical problems.

Learning skills
Students will acquire the methodological tools necessary to independently update and deepen their knowledge, taking into account the ongoing evolution of the legal framework, as well as developments in case law, legal scholarship, and practical experience in contexts of corporate distress.

CORPORATE TAX LAW Second Semester 8 GIUR-08/A ita

Learning objectives

The course aims to achieve the following objectives:
Knowledge and understanding: Acquire in-depth knowledge of corporate tax law, including national and international tax regulations.
Applied knowledge and understanding: Use theoretical knowledge to analyze and resolve practical tax issues faced by businesses.
Autonomy of judgment: Critically evaluate and formulate independent judgments on tax strategies and tax decisions within a business context.
Communication skills: Effectively communicate tax issues, explaining the fiscal implications of business decisions to colleagues, clients, and consultants.
Learning ability: Develop a proactive approach to continuous learning in the field of tax law, enhancing understanding of tax laws and their practical application in a business context.
16428 - THESIS

 		Second Semester 12 ita

Learning objectives

Educational objectives: The course aims to provide
advanced knowledge on economic and financial issues relating to the monetary economy.
1) Knowledge and understanding; at the end of the course the student will have to demonstrate that they have understood the main issues of international monetary economics (money, exchange rates, crises, innovations and policy and regulatory measures).
2) Applying knowledge and understanding; The student must be able to read and interpret papers and books on advanced financial economics, as well as evaluate their empirical and methodological contents.
3) Autonomy of judgment (making judgments); At the end of the course, the student will be able to independently read papers and books on advanced financial economics, implementing critical analysis in research.
4) Communication skills; Knowledge of the general part and of the special topics of the course will allow the student to acquire the technical language of the subject allowing them to effectively deal with the discussion of the topics covered
5) Ability to learn (learning skills). At the end of the course, the student will be able to undertake, even independently, subsequent in-depth studies regarding the topics addressed.

Learning objectives

A. OBJECTIVE.
The goal of the course is to provide students with knowledge and understanding of the theoretical and practical tools that explain how the financial system works, as well as its interactions with the real economy, both at the macro- and micro-level, by focusing on the behavior of financial intermediaries in transferring funds from surplus units (savers) to deficit units (investors).
B. EXPECTED LEARNING OUTCOMES
1. KNOWLEDGE AND UNDERSTANDING
Acquire knowledge and tools, both theoretical and practical, that allow students to understand theories of financial economics. Such knowledge will be acquired through frontal lectures supported by advanced textbooks and journal articles reading, and participation to thematic seminars.
2. APPLYING KNOWLEDGE AND UNDERSTANDING
Students will be able to apply the acquired knowledge and methodology to practical examples in a way to assess the main concerns and opportunities of the modern financial system. Such skills will be developed mainly through exercises and an active debate in the classroom.
3. MAKING JUDGEMENTS
Ability to identify and explain the relationships among the agents of the financial sector, as well as their interaction with the real side of the economy.
Students will be able to identify, collect and interpret relevant data on the financial indicators, in connection with real variables, in order to i) provide a comparative analysis with respect to other economic indicators from a global perspective, and to ii) stimulate reflections on issues related to financial economics. Active discussions among students will be encouraged.
4. COMMUNICATIONS
Students will acquire the ability to present the issues of the course with adequate language and appropriate analytical skills (formulae, graphics, and explanation of causal links). Such ability will be implemented through exercises. Students will be able to communicate with peers and supervisors about their understanding on basic topics of financial economics.
5. LEARNING SKILLS
Students will develop the ability to independently and critically reconstruct the basic concepts of financial economics, enabling them to
independently undertake any further study.

Learning objectives

The purpose of the course is to provide an overview of
the role of accounting information in the perspective of its preparation and use by stakeholders. In particular, it is intended to provide the student with knowledge of two thematic areas: group formation and consolidated account and financial statements analysis to make different economic decisions.
Learning Objectives
1) Knowledge and understanding Knowing the tools of analysis, about groups accounts and financial statements analysis both in their theoretical construction and in their implementation. Civil code regulation, national and international financial reporting standards.
2) Applied knowledge and understanding Learning of group analysis tools and interpreting financial statements. Analysis of case studies.
3) Autonomy of judgment To be able to apply instruments for analyzing business groups and financial statements in a critical and independent way in order to be able to write a report on financial position and performance of operations of a business entity.
4) Communication skills To be able to express the results of a financial statements analysis by preparing a report and accounting documents.
5) Ability to read published accounting information of companies and groups in order to express an assessment of the economic, financial and equity conditions

Learning objectives

The course Business Process Analysis and Management aims to provide students with the theoretical knowledge and methodological tools required to understand, analyze, and manage business processes, fostering an integrated view of organizational and managerial dynamics within modern firms.
With regard to Knowledge and Understanding, the course enables students to acquire a solid foundation in process management principles, process mapping and analysis methodologies, and the relationships among business processes, organizational structures, information systems, and organizational performance.
Concerning Applying Knowledge and Understanding, students will be able to use analytical models and operational tools to examine business processes, identify inefficiencies and critical issues, assess process performance, and propose improvement actions aligned with the strategic objectives of the organization.
In terms of Making Judgements, the course promotes the ability to interpret business data and information, critically evaluate the effectiveness and efficiency of organizational processes, and formulate well-founded recommendations for process improvement based on economic, organizational, and managerial considerations.
With reference to Communication Skills, students will develop the ability to describe and represent business processes using appropriate technical language, effectively communicate the results of their analyses, and discuss improvement proposals with both specialist and non-specialist audiences.
Finally, regarding Learning Skills, the course provides students with the competencies necessary to independently deepen their understanding of topics related to process management, organizational innovation, and digital transformation, thereby supporting lifelong learning and further academic or professional development in the fields of management and organization.

Learning objectives

The course addresses the digital transformation of businesses
and its implications for organizational and operational models. It invites students to reflect on the changes, opportunities, risks, and consequences of using digital technology in organizational design and change processes, as well as in decision-making processes and operating systems.
The course aims to provide students with theoretical knowledge and practical tools regarding the role of digital technology within organizations, and the skills and processes required to manage the digital transformation process.
During the course, students will engage in individual and group learning activities (both theoretical and applied). Participation in the course is intended to foster the development of the following knowledge and skills in students:
Knowledge and Understanding: Understand the nature and impact of digital technology changes on organizations and on the behavior of individuals and groups.
Understand the main information systems used by businesses.
Understand the tools for process analysis and digital transformation. Knowledge of the tools and processes for analyzing information needs and designing data presentation and analysis tools to meet them.
Applied knowledge and understanding: Recognize areas of practical application of digital technologies to solve organizational problems.
To understand and apply approaches, methodologies, and tools for analyzing and redesigning organizational processes to improve efficiency and support process automation.
Know how to analyze an organization's information needs and how to develop tools to address them.
Know how to organize a digital transformation process, plan it, estimate its effort, and monitor its execution using project management tools.
Making independent judgments
Know the main variables that influence a digital transformation process, being able to analyze them to formulate judgments and assessments on the potential use of digital technologies for organizational management, change, and innovation.
Communication Skills
During the course, students will develop the ability to present, argue, and publicly discuss digital technologies, the transformative potential of digital technologies in organizations, and the results of their analyses and assessments of the transformative potential of digital technologies.
Learning Skills
The ability to approach the learning process in a completely autonomous and self-directed manner.

Learning objectives

The course explores the relationships between strategic management and performance measurement, with particular focus on the integration of planning, monitoring and evaluation in support of coherence between strategic objectives and operational activities from a value perspective. The analysis extends to the dynamics of value creation, co-creation with key stakeholders, and the identification of practices that destroy or co-destroy value. Through the application of established models and tools – the Balanced Scorecard, the Business Model Canvas, and Key Performance Indicators – students learn how to align resources with strategic priorities, support informed decision-making, and move beyond a control perspective confined to the financial dimension, towards a holistic and sustainability-oriented approach to management. KNOWLEDGE AND UNDERSTANDING Upon completion of the course, students will have acquired knowledge of the main tools for aligning operational activities with strategic objectives from a value perspective: the Balanced Scorecard (BSC), which translates strategic vision into four perspectives (financial, customer, internal processes, and learning and growth); the Business Model Canvas, which enables organisations to define, describe and analyse the logic by which they create, deliver and capture value; and Key Performance Indicators (KPIs), i.e. measurable indicators for tracking success and its impact on organisational value. Students will also have understood the significance of the shift from traditional financial control to an integrated approach encompassing non-financial measures and organisational well-being indicators.
APPLYING KNOWLEDGE AND UNDERSTANDING Students will be able to design and manage the continuous performance management process – encompassing planning, monitoring and evaluation – in order to ensure coherence between defined strategic objectives and the operational activities undertaken, going beyond the logic of annual appraisal. They will further be able to analyse operational activities to understand how these generate value (through innovation, efficiency and customer satisfaction), co create it together with external stakeholders, or conversely reduce it (through waste, inefficiencies and strategic risks), to the point of giving rise to phenomena of shared value co-destruction. MAKING JUDGEMENTS Upon completion of the course, students will be able to critically evaluate decisions taken and analyses conducted, verify the correct application of the tools acquired, and identify the corrective actions required at the various stages of the strategic management and performance measurement process. They will also be able to assess the appropriateness of the tools adopted in relation to the specific competitive context in which the organisation operates. COMMUNICATION SKILLS Upon completion of the course, students will be able to present, using appropriate technical language, the performance measurement and management system they have designed, explaining why it is suited to the relevant organisational context. They will further be able to articulate the results obtained through the application of the models used, clarifying how these supported operational and strategic decisions and what revisions may be warranted in light of the outcomes recorded.
LEARNING SKILLS Students will develop the ability to progressively refine their analyses, the tools adopted and the decisions taken, keeping them consistently attuned to the evolution of the competitive context in which the organisation operates. The learning process will be supported by the integration of individual study, guided application of business cases, and critical reflection on feedback received.

Learning objectives

The course explores the relationships between strategic management and performance measurement, with particular focus on the integration of planning, monitoring and evaluation in support of coherence between strategic objectives and operational activities from a value perspective. The analysis extends to the dynamics of value creation, co-creation with key stakeholders, and the identification of practices that destroy or co-destroy value. Through the application of established models and tools – the Balanced Scorecard, the Business Model Canvas, and Key Performance Indicators – students learn how to align resources with strategic priorities, support informed decision-making, and move beyond a control perspective confined to the financial dimension, towards a holistic and sustainability-oriented approach to management. KNOWLEDGE AND UNDERSTANDING Upon completion of the course, students will have acquired knowledge of the main tools for aligning operational activities with strategic objectives from a value perspective: the Balanced Scorecard (BSC), which translates strategic vision into four perspectives (financial, customer, internal processes, and learning and growth); the Business Model Canvas, which enables organisations to define, describe and analyse the logic by which they create, deliver and capture value; and Key Performance Indicators (KPIs), i.e. measurable indicators for tracking success and its impact on organisational value. Students will also have understood the significance of the shift from traditional financial control to an integrated approach encompassing non-financial measures and organisational well-being indicators.
APPLYING KNOWLEDGE AND UNDERSTANDING Students will be able to design and manage the continuous performance management process – encompassing planning, monitoring and evaluation – in order to ensure coherence between defined strategic objectives and the operational activities undertaken, going beyond the logic of annual appraisal. They will further be able to analyse operational activities to understand how these generate value (through innovation, efficiency and customer satisfaction), co create it together with external stakeholders, or conversely reduce it (through waste, inefficiencies and strategic risks), to the point of giving rise to phenomena of shared value co-destruction. MAKING JUDGEMENTS Upon completion of the course, students will be able to critically evaluate decisions taken and analyses conducted, verify the correct application of the tools acquired, and identify the corrective actions required at the various stages of the strategic management and performance measurement process. They will also be able to assess the appropriateness of the tools adopted in relation to the specific competitive context in which the organisation operates. COMMUNICATION SKILLS Upon completion of the course, students will be able to present, using appropriate technical language, the performance measurement and management system they have designed, explaining why it is suited to the relevant organisational context. They will further be able to articulate the results obtained through the application of the models used, clarifying how these supported operational and strategic decisions and what revisions may be warranted in light of the outcomes recorded.
LEARNING SKILLS Students will develop the ability to progressively refine their analyses, the tools adopted and the decisions taken, keeping them consistently attuned to the evolution of the competitive context in which the organisation operates. The learning process will be supported by the integration of individual study, guided application of business cases, and critical reflection on feedback received.

Learning objectives

The course explores the relationships between strategic management and performance measurement, with particular focus on the integration of planning, monitoring and evaluation in support of coherence between strategic objectives and operational activities from a value perspective. The analysis extends to the dynamics of value creation, co-creation with key stakeholders, and the identification of practices that destroy or co-destroy value. Through the application of established models and tools – the Balanced Scorecard, the Business Model Canvas, and Key Performance Indicators – students learn how to align resources with strategic priorities, support informed decision-making, and move beyond a control perspective confined to the financial dimension, towards a holistic and sustainability-oriented approach to management. KNOWLEDGE AND UNDERSTANDING Upon completion of the course, students will have acquired knowledge of the main tools for aligning operational activities with strategic objectives from a value perspective: the Balanced Scorecard (BSC), which translates strategic vision into four perspectives (financial, customer, internal processes, and learning and growth); the Business Model Canvas, which enables organisations to define, describe and analyse the logic by which they create, deliver and capture value; and Key Performance Indicators (KPIs), i.e. measurable indicators for tracking success and its impact on organisational value. Students will also have understood the significance of the shift from traditional financial control to an integrated approach encompassing non-financial measures and organisational well-being indicators.
APPLYING KNOWLEDGE AND UNDERSTANDING Students will be able to design and manage the continuous performance management process – encompassing planning, monitoring and evaluation – in order to ensure coherence between defined strategic objectives and the operational activities undertaken, going beyond the logic of annual appraisal. They will further be able to analyse operational activities to understand how these generate value (through innovation, efficiency and customer satisfaction), co create it together with external stakeholders, or conversely reduce it (through waste, inefficiencies and strategic risks), to the point of giving rise to phenomena of shared value co-destruction. MAKING JUDGEMENTS Upon completion of the course, students will be able to critically evaluate decisions taken and analyses conducted, verify the correct application of the tools acquired, and identify the corrective actions required at the various stages of the strategic management and performance measurement process. They will also be able to assess the appropriateness of the tools adopted in relation to the specific competitive context in which the organisation operates. COMMUNICATION SKILLS Upon completion of the course, students will be able to present, using appropriate technical language, the performance measurement and management system they have designed, explaining why it is suited to the relevant organisational context. They will further be able to articulate the results obtained through the application of the models used, clarifying how these supported operational and strategic decisions and what revisions may be warranted in light of the outcomes recorded.
LEARNING SKILLS Students will develop the ability to progressively refine their analyses, the tools adopted and the decisions taken, keeping them consistently attuned to the evolution of the competitive context in which the organisation operates. The learning process will be supported by the integration of individual study, guided application of business cases, and critical reflection on feedback received.

Learning objectives

The course provides an advanced examination of the theoretical and practical foundations of corporate finance, with particular emphasis on investment decisions, financing decisions, and capital structure.
The course systematically develops capital budgeting processes through the modeling of incremental cash flows, the determination of the weighted average cost of capital (WACC), and the application of valuation criteria based on discounted cash flow techniques. These tools are integrated with risk analysis and value creation measurement. Significant attention is devoted to capital structure theory and to models for determining the cost of equity and debt capital, as well as to business valuation through discounted cash flow (DCF) approaches and relative valuation methods. Particular focus is placed on estimation issues, underlying assumptions, and the consistency between valuation models and financial decisions. Major corporate finance transactions are analyzed as applications of corporate finance within corporate advisory activities, with specific reference to their effects on leverage, risk, and shareholder value.
The course also examines the role of systematic and idiosyncratic risk factors in value determination, including a discussion of the integration of ESG (Environmental, Social, and Governance) variables into cost of capital estimation and valuation processes. The teaching approach combines theoretical rigor, analytical formalization, and real-world case applications, with the aim of providing advanced competencies consistent with both academic research and professional practice in corporate finance and advisory services.
Upon successful completion of the course, students will have acquired:
a) advanced knowledge of the main theories and tools of corporate finance, with particular emphasis on investment decisions, financing decisions, capital structure, business valuation, and financial risk management (knowledge and understanding);
b) the ability to apply corporate finance tools to the valuation of firms and investment projects, the estimation of the cost of capital, and the analysis of how financial decisions affect value creation (applying knowledge and understanding);
c) the ability to critically assess financial decisions and corporate transactions, considering risks, opportunities, and implications for firm value (making judgements);
d) the ability to present and discuss financial analyses and business valuations using appropriate technical language and evidence-based arguments (communication skills);
e) the ability to independently deepen their knowledge of advanced corporate finance topics and continuously update their competencies through academic and professional sources (learning skills).

Learning objectives

The course explores the principles of control governance, internal control systems and risk management, focusing on the role of Internal Auditing and the other actors involved in the control framework. Through the analysis of major international models and standards, the course develops skills to assess the effectiveness of internal controls, support governance processes and contribute to the continuous improvement of the Internal Control and Risk Management System (ICRMS).
.

a) Knowledge and understanding


At the end of the course, students will have acquired advanced knowledge of control governance, internal control systems, risk management and Internal Auditing. In particular, students will be able to understand:
1. the nature, objectives and components of the Internal Control and Risk Management System;
2. the role of governance bodies, control bodies, statutory auditors, supervisory bodies and corporate functions involved in control processes;
3. the main regulatory references concerning corporate governance, internal controls, statutory audit, corporate administrative liability and adequate organizational structures;
4. the main international internal control and risk management models, with particular reference to the COSO Internal Control framework, COSO ERM and the Three Lines Model;
5. the role of Internal Auditing as an independent assurance and advisory function aimed at assessing the adequacy and effectiveness of governance, risk management and control processes.
b) Applying knowledge and understanding

English
At the end of the course, students will be able to apply the knowledge acquired to the practical analysis of corporate governance, internal control and risk management systems. In particular, students will be able to:
1. read and interpret a company’s control governance structure, identifying roles, responsibilities, information flows and possible overlaps or weaknesses in control safeguards;
2. analyze business processes in order to identify risks, key controls, weaknesses and possible corrective actions;
3. use the main professional and methodological Internal Auditing models to plan audit engagements, define objectives, scope, risks, audit procedures and expected results;
4. understand the relationship among Internal Audit, risk management, compliance, statutory audit, board of statutory auditors, supervisory bodies and management;
5. apply risk-based audit, process auditing and control design and operating effectiveness assessment techniques to business cases;
6. connect Internal Auditing activities to the improvement of the internal control and risk management system, the quality of reporting and the reliability of corporate information.

c) Making judgements
At the end of the course, students will have developed the ability to make autonomous and reasoned assessments of the adequacy of governance structures, internal control processes and Internal Auditing activities.
In particular, students will be able to:
1. critically assess whether an internal control system is consistent with the complexity, size, industry and risk profile of the organization;
2. distinguish between formal compliance and the substantive effectiveness of control safeguards;
3. identify organizational weaknesses, lack of segregation of duties, insufficient information flows or inadequate accountability;
4. express a reasoned judgement on the effectiveness of controls in relation to corporate objectives, operational risks, compliance risks, reporting risks and fraud risks;
Independent judgement is developed through business case analysis, exercises, risk scenario discussions and simulations concerning the different actors of corporate governance.

d) Communication skills
At the end of the course, students will be able to communicate clearly, technically and logically their analyses concerning control governance, risks, internal controls and Internal Auditing.
In particular, students will be able to:
1. correctly use the technical language of corporate governance, internal control, risk management, compliance and audit;
2. present business processes, risks, controls, identified deficiencies, causes, impacts and corrective actions in a structured manner;
3. participate in discussions, individual or group work and operational simulations, supporting their evaluations with method, evidence and regulatory or professional references;
4. translate control analysis into operational recommendations that are understandable and useful for improving business processes.
In summary, students should be able to transform the technical analysis of the internal control system into professional communication useful for corporate decision-making, in line with the assurance and advisory activity.

e) Learning skills
At the end of the course, students will have developed autonomous learning and continuous updating skills in the fields of governance, internal control, risk management and Internal Auditing.
In particular, students will be able to:
1. independently update their knowledge of the evolving regulatory framework concerning corporate governance, statutory audit, Legislative Decree 231/2001, adequate organizational structures and the responsibilities of corporate bodies;
2. develop a study method focused on process analysis, risk identification and control assessment;
3. transfer the knowledge acquired to different business contexts, including those characterized by organizational complexity, technological innovation, increasing regulation and greater attention to sustainability and integrated compliance;
4. undertake further professional specialization paths in Internal Auditing, risk management, compliance, statutory audit, internal control and corporate governance.
Learning skills are particularly relevant because internal control systems and audit methodologies constantly evolve, also in connection with process digitalization, data analytics, control automation and the need to address emerging risks. Therefore, the course does not merely transmit technical notions, but aims to develop a permanent capacity for critical and professional updating.

Learning objectives

The course aims to train professionals and managers specialized in strategic and operational business governance. In summary, the main training objectives are divided into three main areas:
a) Strategic Competence and Planning (the "Business Plan");
b) Performance Measurement and Reporting (the "Management Control");
c) Transversal and Digital Skills.

1. Knowledge and Understanding.
Upon completion of this master's degree program, students will acquire a solid foundation of theoretical knowledge and advanced understanding. Students will be able to understand advanced strategic planning models and the operating mechanisms of various organizational structures, both in traditional corporate settings and in start-ups and multinational corporations. Furthermore, students will be able to understand the causal links between management's strategic decisions and the economic, financial, and capital results visible on the balance sheet. In short, the "knowledge and understanding" in this course is not limited to abstract theory, but translates into the ability to interpret macroeconomic trends and internal company data to decode complex competitive scenarios.

2. Applied knowledge and understanding.

Upon completion of this master's degree program, students will not only possess theoretical knowledge, but will also have developed the skills to concretely apply control and planning models in real, complex, and often uncertain business contexts. Students will be able to apply their knowledge to:
a) Design and implement control systems;
b) Develop and validate business plans;
c) Use digital and advanced reporting tools.
In the methodological approach, students develop these application skills through highly interactive teaching methods, which include ongoing analysis of real business cases, computer-based business simulations, and group project work.
3. Independent judgment.
At the end of the master's program, this skill translates into the ability to go beyond simple mathematical calculations to critically interpret business reality, making strategic decisions even in the face of incomplete, ambiguous, or conflicting data. A good analyst or controller doesn't simply say "costs increased by 5%," but knows how to assess why they increased and what this means for the company's future. Upon completion of the course, students will be able to demonstrate independent judgment in four key areas:
3.1 Critical interpretation of data (Beyond the numbers);
3.2. Choosing the most appropriate control models;
3.3. Balancing short- and long-term objectives;
3.4. Ethical responsibility and sustainability (ESG).
In short, independent judgment transforms graduates from calculation makers to strategic consultants. It is the ability to take responsibility for managerial opinion, formulating clear recommendations to top management even when the market scenario is highly unpredictable.

4. Communication skills.
By the end of this master's program, students will have developed the ability to act as a communication bridge between complex numerical data and strategic management decisions. This isn't just about public speaking, but also about translating the technical language of finance and accounting into clear, actionable guidance for everyone in the company. Upon completion of the course, students will be able to:
1. Translate data into decisions (Data Storytelling);
2. Interact cross-functionally;
3. Use international standards and tools.
In short, the modern controller is not an accountant isolated in his office, but an internal consultant. Therefore, his or her primary skill is knowing how to communicate what lies behind the numbers, transforming a spreadsheet into a strategic guide for the entire organization.
5. Learning Ability.
Within the context of the course, which focuses on management control and strategic planning, this pillar defines the student's autonomy in maintaining their skills up to date over time, a fundamental skill in a rapidly changing economic and technological environment. Upon completion of the course, students will have developed the methodological skills to:
a) Self-update on regulatory and doctrinal matters;
b) Adapt to new technological tools;
c) Methodological research and independent problem solving.
In short, the course does not simply teach how to develop a business plan today, but also provides the mindset needed to understand how management control will evolve in the future. Students acquire the autonomy to successfully undertake further training or international professional certification programs.

Learning objectives

The laboratory aims to provide students with operational knowledge and practical skills in the use of Artificial Intelligence (AI) tools to support management, consulting, and management control processes. Through hands-on activities, practical exercises, and case study analyses, students will become familiar with the main applications of AI in organizational settings while developing a critical understanding of the opportunities, limitations, and ethical implications associated with its use.
The course is designed to foster the integration of AI technologies into decision-making, analytical, and innovation processes, promoting a responsible and informed approach to the adoption of emerging digital technologies.
Learning Outcomes According to the Dublin Descriptors
1. Knowledge and Understanding
Upon completion of the laboratory, students will be able to:
● understand the fundamental concepts, terminology, and main applications of Artificial Intelligence in business environments;
● recognize the opportunities offered by AI in management, consulting, and management control processes;
● understand the ethical, organizational, and regulatory implications associated with the use of AI technologies.
2. Applying Knowledge and Understanding
Students will be able to:
● use Artificial Intelligence tools to support analysis, information processing, and problem-solving activities;
● apply AI-based solutions to managerial, organizational, and decision-making challenges;
● integrate AI-generated outputs into business planning, consulting, and management control processes.
3. Making Judgements
Students will be able to:
● critically evaluate the reliability, quality, and relevance of information generated by AI systems;
● identify opportunities, risks, and limitations associated with the adoption of AI tools within organizations;
● make informed judgments regarding the suitability of AI-based solutions for specific business contexts.
4. Communication Skills
Students will be able to:
● effectively communicate results, analyses, and recommendations supported by AI tools;
● present AI-based innovative solutions to audiences with different levels of technical expertise;
● collaborate effectively in teams using digital and AI tools to support project-based activities.
5. Learning Skills
Students will be able to:
● independently learn how to use emerging AI tools and applications;
● continuously update their knowledge and skills in response to rapid technological developments;
● develop a lifelong learning mindset and an innovation-oriented approach to digital transformation.
Expected Competencies
By the end of the laboratory, students will have acquired practical competencies in the use of Artificial Intelligence to support business analysis, managerial consulting, decision-making processes, and management control activities. They will also develop a critical awareness of the organizational, ethical, and strategic implications arising from the adoption of AI technologies.

Learning objectives

The Business Creation Laboratory aims to provide students with practical and experiential learning opportunities focused on the development and assessment of entrepreneurial initiatives. The laboratory enables participants to apply the managerial, strategic, accounting, and financial knowledge acquired during the Master's degree program to the design and development of a new business venture.
Upon completion of the laboratory, students will be able to:
identify and evaluate entrepreneurial opportunities in dynamic and competitive environments;
analyze target markets and design appropriate business models;
develop a comprehensive business plan, including strategic, organizational, marketing, and financial components;
apply planning, budgeting, and management control tools to support entrepreneurial decision-making;
assess the economic, financial, and operational feasibility of a business venture;
understand the main legal, fiscal, and administrative issues related to business start-up processes;
work effectively in multidisciplinary teams, demonstrating problem-solving, project management, and leadership skills;
communicate and present business projects effectively to potential investors, partners, and other stakeholders.
Learning Outcomes
At the end of the laboratory, students will be able to demonstrate:
Knowledge and Understanding
Understanding of the entrepreneurial process and the key tools supporting business creation and development.
Applying Knowledge and Understanding
Ability to apply managerial, strategic, accounting, and financial techniques to the design and evaluation of entrepreneurial initiatives.
Making Judgements
Ability to critically assess the feasibility, sustainability, and growth potential of a business project.
Communication Skills
Ability to prepare and deliver effective business reports, business plans, and entrepreneurial pitches tailored to different stakeholders.
Learning Skills
Ability to integrate multidisciplinary knowledge and independently acquire new competencies relevant to entrepreneurship, consulting, and business development.



Learning objectives

Knowledge and Understanding:
- Students will acquire an in-depth understanding of fundamental principles, approaches and mechanisms of functioning of a circularity-oriented economic system.
- Students will gain an in-depth understanding of the principles that guide businesses of all sizes and economic sectors to realise and communicate social responsibility and sustainability
- Students will gain an in-depth understanding of the reporting tools and models used by companies to communicate economic, social and environmental responsibility
Ability to Apply Knowledge and Understanding
- Students will develop theoretical knowledge and practical tools to critically analyse the debate on corporate responsibility and reporting
Autonomy of Judgement:
- Students will be able to address the most recurring sustainability and circular economy issues and apply standards for sustainable reporting
- Students will be able to evaluate circular economy and sustainability frameworks and the applicability of Circular Economy models
Communication Skills:
- They will develop the ability to effectively communicate sustainability principles and practices to various stakeholders
- They will be able to write clear and persuasive reports and presentations on the results of their sustainability assessments.
Learning skills:
- They will acquire terminologies and descriptive methods specific to sustainability reporting, improving their ability to analyse and communicate sustainable activities.

Learning objectives

Learning Objectives
The course aims to provide students with a solid grounding in the law of corporate crisis and insolvency, with particular focus on early warning mechanisms and crisis management tools, on both negotiated and formal insolvency proceedings, and on the range of possible solutions available for addressing financial distress.

Knowledge and understanding
By the end of the course, students will have acquired an in-depth knowledge of the legal framework governing corporate crisis and insolvency, including its underlying principles, structure, and objectives, as well as the interrelations between early warning tools, negotiated solutions, and formal insolvency procedures. This knowledge will be complemented by the ability to interpret legal rules in light of the underlying economic reality, identifying the dynamics of distressed businesses and the policy concerns that shape legislative choices.

Applying knowledge and understanding
Students will be able to apply the knowledge acquired to the analysis of concrete cases, identifying and assessing the most appropriate instruments for managing crisis and insolvency in light of the specific financial conditions of the firm and the interests involved, also through a coordinated reading of statutory provisions, practical developments, and case law.

Making judgements
Students will develop the ability to critically navigate the various solutions offered by the legal system, assessing the implications of choosing between negotiated instruments and formal insolvency procedures, as well as between liquidation-oriented solutions and those aimed at business continuity, in light of the balance between creditor protection, preservation of firm value, and broader market interests.

Communication skills
Students will be able to present legal issues relating to corporate crisis and insolvency in a clear and rigorous manner, using appropriate technical language and demonstrating the ability to synthesize and argue effectively, also in relation to complex practical problems.

Learning skills
Students will acquire the methodological tools necessary to independently update and deepen their knowledge, taking into account the ongoing evolution of the legal framework, as well as developments in case law, legal scholarship, and practical experience in contexts of corporate distress.

Learning objectives

The course aims to achieve the following objectives:
Knowledge and understanding: Acquire in-depth knowledge of corporate tax law, including national and international tax regulations.
Applied knowledge and understanding: Use theoretical knowledge to analyze and resolve practical tax issues faced by businesses.
Autonomy of judgment: Critically evaluate and formulate independent judgments on tax strategies and tax decisions within a business context.
Communication skills: Effectively communicate tax issues, explaining the fiscal implications of business decisions to colleagues, clients, and consultants.
Learning ability: Develop a proactive approach to continuous learning in the field of tax law, enhancing understanding of tax laws and their practical application in a business context.

Learning objectives

The course, delivered in e-learning and self-paced mode, introduces the basic functionality of the R data analysis environment. The workshop is designed for those with no or minimal knowledge of the environment.
The workshop will introduce the R and R Studio work environments, the basic functionality of the R language, and the main data analysis operations.
Knowledge and Understanding
Understand the potential and fields of application of R.
Know how to use R together with other data analysis software (Excel, Stata) for data import and export.
Know the main data types managed by R and how to manipulate them.
Know how to perform basic mathematical and logical operations on data, and basic descriptive statistics analyses.
Know how to generate visualizations of data analyses produced with R.
Applied Knowledge and Understanding
Recognize areas of application for the learned R features.
Starting from a data set, recognize the
possible manipulations and analyses.
Making independent judgments
Ability to interpret the results of the main
data analysis operations.
Ability to interpret the meaning of errors reported by the R environment and to resolve them independently.
Communication skills
Ability to prepare data presentation reports
consisting of descriptive text, data analysis tables, and graphs, automatically generated by
R scripts.
Learning ability
Ability to direct the learning process in a completely autonomous and self-managed manner.

Learning objectives

The Laboratory of Financial Strategies and Applications is a practice-oriented course designed to explore innovative and emerging topics in financial markets and the financial services industry. Through projects, case studies, and quantitative applications, the laboratory enables students to integrate and apply the knowledge and skills acquired throughout the Master's programme to real-world problems and rapidly evolving financial contexts. Activities may include, among others, the analysis of commodity and energy markets, geopolitical risk, emerging risks, model risk, financial innovation, digital assets, and other frontier topics relevant to market participants and institutional investors.

Upon successful completion of the laboratory, students will have acquired:

a) the ability to apply quantitative tools and advanced financial methodologies to the analysis of real-world problems in financial markets (applying knowledge and understanding);

b) the ability to interpret complex financial phenomena and assess their implications for investors, financial intermediaries, and firms (making judgements);

c) the ability to develop independent projects based on data analysis, empirical evidence, and practical applications (applying knowledge and understanding);

d) the ability to present and discuss results, analyses, and solutions in a rigorous and professional manner (communication skills);

e) the ability to independently explore innovative and frontier topics, developing skills relevant for research activities, thesis work, and advanced professional environments (learning skills).

Learning objectives

The course provides an advanced treatment of Asset Management processes, with particular emphasis on asset allocation, quantitative portfolio construction, and professional investment management. Building on the foundations of mean–variance theory, the course critically examines traditional portfolio optimization models and introduces innovative approaches such as risk parity, factor investing, and data-driven methodologies.
The course explores the tools used by institutional investors for portfolio construction, monitoring, and evaluation, with particular attention to performance measurement, risk assessment, and performance attribution. It also examines the applications of Artificial Intelligence (AI) and Machine Learning (ML) in asset management and risk management, discussing their opportunities and limitations. Practical applications using MATLAB are included for the implementation of portfolio optimization models and the comparison of traditional and algorithmic approaches. The integration of ESG factors and emerging risks completes the framework, providing an up-to-date perspective on portfolio management in contemporary financial markets.
Upon successful completion of the course, students will have acquired:
a) advanced knowledge of the regulatory framework and the asset management industry (knowledge and understanding);
b) in-depth knowledge of traditional and innovative models of asset allocation, portfolio optimization, and portfolio management, including quantitative and data-driven approaches (knowledge and understanding);
c) the ability to apply advanced tools for portfolio construction and monitoring, including the use of specialized software (applying knowledge and understanding);
d) the ability to critically evaluate investment performance, risk, and portfolio strategies, with particular reference to ESG factors and emerging risks (making judgements);
e) the ability to explore innovative topics through academic and professional literature (learning skills).

Learning objectives

The course provides advanced training in the principles of Sustainable Corporate Finance, with particular emphasis on the integration of environmental, social, and governance (ESG) considerations into corporate financial decision-making. The course examines the role of sustainability in investment appraisal, financing decisions, risk management, and long-term value creation, taking into account evolving regulatory requirements and increasing stakeholder demands for transparency and accountability.

Upon successful completion of the course, students will have acquired:
a) advanced knowledge of the principles of Sustainable Corporate Finance and of the regulatory framework governing corporate sustainability (knowledge and understanding);
b) the ability to evaluate investment and financing decisions by considering the economic and financial implications of ESG factors (applying knowledge and understanding);
c) the ability to analyse the impact of sustainability-related issues on firm value, cost of capital, and corporate risk management (making judgements);
d) the ability to interpret sustainability-related information and disclosures in support of financial and strategic decision-making (communication skills);
e) the ability to independently explore innovative topics related to corporate sustainability and long-term value creation (learning skills).

Learning objectives

The objective is to provide students with theoretical
knowledge of applied linear algebra and data mining, with particular emphasis on the decomposition of prediction errors in economic and social phenomena. Fundamental statistical concepts (e.g., regression, classification, inference) will be reviewed and presented with a more detailed technical level to provide a deeper theoretical understanding of data analysis.
2. Based on the theoretical knowledge acquired, students will be required to apply what they have learned in analyzing datasets on real or simulated data. Particular emphasis is placed on comparing different methods that can be used to achieve the same data analysis objective, in order to identify the most appropriate one. To this end, students will be required to master the R programming software at an intermediate/advanced level.
3. Based on what they have learned in theory and verified in practice, students must make a judgment on the quality of the data analysis performed. Particular emphasis is placed on highlighting the limitations and critical points of the data analysis performed, always keeping in mind whether the data analysis objective has been effectively achieved (where possible).
4. Students are required to communicate what they have learned theoretically and discovered empirically through data analysis by giving an oral presentation of their results. The presentation should balance the technical content of the work with a more informative nature of the insights gained from the data.
5. The student’s learning ability is tested through the data analysis itself. The in-class analyses, where students will learn the theory and test it, will always be necessarily educational, for example, with pre-selected and pre-processed datasets. The analysis of real data that students are exposed to will necessarily put them in a position to apply what they have learned in an innovative way and to learn new techniques. In general, the course will provide students with all the necessary elements to learn new concepts independently.

Learning objectives

LEARNING OUTCOMES: The course aims to provide
students with the tools they need to know how to read the consolidated financial statements of credit and financial intermediaries as well as the documents produced to fulfill the obligations of the third Basel capital agreement with the supervisory authorities (ICAAP, supervisory reports harmonized and non-harmonized) and to external parties (Public disclosure). The course also aims to provide an all-round overview of issues related to the issues of programming and control of financial and credit intermediaries.
KNOWLEDGE AND UNDERSTANDING: At the end of
the training the student must have understood aspects of an eminently theoretical nature useful for solving operational problems.
APPLYING KNOWLEDGE AND UNDERSTANDING: The
distinctly operational cut of the course must allow the student to have the necessary skills to understand the business reality of an intermediary, by reading his annual report, other documents subject to mandatory disclosure and the main documents of management control.
MAKING JUDGEMENTS: The analysis of a consolidated annual report of a credit intermediary will allow the student to apply all the knowledge acquired in the classroom, to be able to understand the economic and financial balance sheet, the risks assumed, the assets of his economy. The analysis of a dashboard of management control indicators will allow the assessment of the strategic effectiveness and operating efficiency of the credit intermediary to which those data refer.
COMMUNICATION SKILLS: Both the theoretical and operational part of the course will enable the student to acquire the technical language of the subject and to be able to aspire to managerial tasks both within the credit and financial intermediaries and within the companies that provide consulting services and of revision.
LEARNING SKILLS: In addition to knowing how to read the financial statements of credit intermediaries, the documents subject to mandatory disclosure, those produced to fulfill reporting obligations and internal reports of management control, the student will be able to understand techniques, manuals, scientific publications of dissemination or research that have as their object the reporting of the banks.

Learning objectives

The course aims to provide advanced and up-to-date knowledge in the fields of business valuation, extraordinary transactions, and investment decision-making processes. Students will acquire both theoretical knowledge and practical tools to understand, analyze, and estimate the economic value of companies in different business and institutional contexts.
Particular attention will be devoted to the critical analysis of the main valuation methodologies (income-based, cash-flow-based, asset-based, and market-based approaches), highlighting their assumptions, limitations, and appropriate fields of application.
Upon completion of the course, students will be able to:
✔ identify and analyze the key economic, financial, and strategic drivers of corporate value;
✔ critically assess financial statements, business plans, and market information for valuation purposes;
✔ select and apply the most appropriate valuation methodology according to the characteristics of the company and the purpose of the valuation;
✔ interpret valuation outcomes from a professional and decision-making perspective;
✔ understand the role of valuation in mergers and acquisitions, contributions in kind, demergers, transformations, shareholder withdrawal procedures, and leveraged buyouts;
✔ develop analytical and problem-solving skills through the discussion of real-world business cases and investment simulations;
 adopt an integrated valuation perspective that combines financial, strategic, organizational, and risk-related factors.
Through a practice-oriented approach inspired by the activities of financial advisors, audit firms, institutional investors, and private equity funds, the course also aims to develop students' ability to formulate independent and well-supported professional judgments in situations characterized by uncertainty and incomplete information.

Learning objectives

The course Capital Markets, Data and Financial Applications provides an advanced, project-based education in financial markets, combining financial engineering, risk management, and quantitative analysis with innovative data analytics and machine learning techniques applied to finance.
The first module (Advanced Capital Markets and Financial Engineering) examines capital markets and the use of derivatives, structured products, and risk management tools in different financial contexts. Through project-based activities and real-world case studies, students develop the ability to analyze complex financial problems and design solutions consistent with specific investment, hedging, or risk-transfer objectives.
The second module (Machine Learning for Finance) introduces the main machine learning techniques applied to financial markets, with particular attention to data analysis, predictive modeling, and decision support. The module enables students to understand both the opportunities and limitations of artificial intelligence in investment management and risk management.
Upon successful completion of the course, students will have acquired:
a) advanced knowledge of capital markets, financial engineering instruments, and the main applications of machine learning in finance (knowledge and understanding);
b) the ability to apply quantitative models, financial instruments, and data analytics techniques to solve practical problems in financial markets (applying knowledge and understanding);
c) the ability to critically evaluate investment, hedging, and risk management strategies, as well as the use of data-driven and algorithmic models (making judgements);
d) the ability to effectively communicate quantitative results and project outcomes in both professional and academic settings (communication skills);
e) the ability to independently explore innovative topics related to financial markets, financial engineering, and artificial intelligence in finance (learning skills).

Learning objectives

The course Capital Markets, Data and Financial Applications provides an advanced, project-based education in financial markets, combining financial engineering, risk management, and quantitative analysis with innovative data analytics and machine learning techniques applied to finance.
The first module (Advanced Capital Markets and Financial Engineering) examines capital markets and the use of derivatives, structured products, and risk management tools in different financial contexts. Through project-based activities and real-world case studies, students develop the ability to analyze complex financial problems and design solutions consistent with specific investment, hedging, or risk-transfer objectives.
The second module (Machine Learning for Finance) introduces the main machine learning techniques applied to financial markets, with particular attention to data analysis, predictive modeling, and decision support. The module enables students to understand both the opportunities and limitations of artificial intelligence in investment management and risk management.
Upon successful completion of the course, students will have acquired:
a) advanced knowledge of capital markets, financial engineering instruments, and the main applications of machine learning in finance (knowledge and understanding);
b) the ability to apply quantitative models, financial instruments, and data analytics techniques to solve practical problems in financial markets (applying knowledge and understanding);
c) the ability to critically evaluate investment, hedging, and risk management strategies, as well as the use of data-driven and algorithmic models (making judgements);
d) the ability to effectively communicate quantitative results and project outcomes in both professional and academic settings (communication skills);
e) the ability to independently explore innovative topics related to financial markets, financial engineering, and artificial intelligence in finance (learning skills).

Learning objectives

The course Capital Markets, Data and Financial Applications provides an advanced, project-based education in financial markets, combining financial engineering, risk management, and quantitative analysis with innovative data analytics and machine learning techniques applied to finance.
The first module (Advanced Capital Markets and Financial Engineering) examines capital markets and the use of derivatives, structured products, and risk management tools in different financial contexts. Through project-based activities and real-world case studies, students develop the ability to analyze complex financial problems and design solutions consistent with specific investment, hedging, or risk-transfer objectives.
The second module (Machine Learning for Finance) introduces the main machine learning techniques applied to financial markets, with particular attention to data analysis, predictive modeling, and decision support. The module enables students to understand both the opportunities and limitations of artificial intelligence in investment management and risk management.
Upon successful completion of the course, students will have acquired:
a) advanced knowledge of capital markets, financial engineering instruments, and the main applications of machine learning in finance (knowledge and understanding);
b) the ability to apply quantitative models, financial instruments, and data analytics techniques to solve practical problems in financial markets (applying knowledge and understanding);
c) the ability to critically evaluate investment, hedging, and risk management strategies, as well as the use of data-driven and algorithmic models (making judgements);
d) the ability to effectively communicate quantitative results and project outcomes in both professional and academic settings (communication skills);
e) the ability to independently explore innovative topics related to financial markets, financial engineering, and artificial intelligence in finance (learning skills).

Learning objectives

The course aims to provide students with the knowledge, tools, and skills needed to understand and use data, digital technologies, and artificial intelligence in marketing decision-making processes, with attention to strategic, analytical, ethical, and practical aspects.
1. Knowledge and understanding. By the end of the course, students will have acquired knowledge of the main concepts, models, and tools of data-driven marketing and artificial intelligence applied to marketing. In particular, they will understand the role of data in market analysis, segmentation, targeting, the customer journey, personalization, customer experience, and performance measurement.
2. Applying knowledge and understanding. Students will be able to apply data analysis tools and methodologies to marketing problems, using techniques and approaches based on data, algorithms, and AI. They will be able to interpret insights from market, digital, and customer data and use them to support decisions related to marketing strategies, communication, pricing, distribution, and customer relationship management.
3. Making judgments. Students will be able to critically assess the opportunities, limitations, and risks associated with the use of data and artificial intelligence in marketing. They will be able to make independent judgements on data quality, the reliability of analytical outputs, the effectiveness of data-driven strategies, and the ethical, social, and regulatory implications of using AI and consumer data.
4. Communication skills. Students will be able to clearly, effectively, and systematically communicate analytical results, marketing insights, and data-based strategic recommendations. They will be able to present dashboards, reports, and data-driven projects to both specialist and non-specialist audiences, using appropriate language focused on decision support.
5. Learning skills. Students will develop the ability to autonomously update their knowledge of digital marketing, data analytics, and artificial intelligence. They will be able to identify relevant information sources, interpret the evolution of emerging technologies, and continue learning in academic, professional, and managerial contexts.

Learning objectives

the dynamics of product innovation and sustainability for business competitiveness, with particular reference to international markets.
Expected learning outcomes
1) Knowledge and understanding. Understanding the impact of innovation and sustainability on production processes and new technologies.
2) Ability to apply knowledge and understanding.
Learning the tools needed to correctly and efficiently implement innovation tools in production chains in light of new technologies.
3) Independent judgment.
Ability to identify new technologies and the effects of innovation on processes, particularly production processes.
4) Communication skills.
Ability to transfer acquired knowledge.
5) Learning skills.
Ability to analyze the effects of innovation and define strategic actions

CHOICE GROUPS YEAR/SEMESTER CFU SSD LANGUAGE
NEW GROUP - 8 - -
119241 - INTERNATIONAL MONETARY ECONOMICS AND POLICY First Year / Second Semester 8 ECON-02/A ita
15805 - FINANCIAL ECONOMICS Second Year / Second Semester 8 ECON-01/A ita
GRUPPO OPZIONALE AFFINI AMBITO AZIENDALE 24-25 CURR. AC - 8 - -
121610 - BUSINESS GROUPS AND FINANCIAL STATEMENT ANALYSIS First Year / Second Semester 8 ECON-06/A ITA
121609 - ANALYSIS AND MANAGEMENT OF BUSINESS PROCESSES Second Year / First Semester 8 ECON-10/A ITA
120457 - MANAGEMNT OF INFORMATION SYSTEMS Second Year / Second Semester 8 ECON-08/A eng
NEW GROUP - 16 - -
121605 - STRATEGIC MANAGEMENT AND PERFORMANCE MEASUREMENT - 8 - -
121605_1 - STRATEGIC MANAGEMENT AND PERFORMANCE MEASUREMENT - MODULE 1 Second Year / First Semester 4 ECON-07/A ITA
121605_2 - STRATEGIC MANAGEMENT AND PERFORMANCE MEASUREMENT - MODULE 2 Second Year / First Semester 4 ECON-06/A ITA
121606 - CORPORATE FINANCE AND CORPORATE ADVISORY Second Year / First Semester 8 ECON-09/B ITA
121607 - CONTROL GOVERNANCE AND INTERNAL AUDITING Second Year / First Semester 8 ECON-06/A ITA
119240 - MANAGEMENT CONTROL AND BUSINESS PLAN Second Year / First Semester 8 ECON-06/A ita
GRUPPO OPZIONALE ALTRE ATTIVITA' CURR.AC 24-25 - 8 - -
16417 - PROFESSIONALIZING ACTIVITY Second Year / Second Semester 8 ita
119045 - PROFESSIONAL ACTIVITY Second Year / Second Semester 4 ita
121611 - AI LABORATORY Second Year / Second Semester 4 ITA
120411 - LABORATORY FOR BUSINESS CREATION Second Year / Second Semester 4 ECON-06/A ita
120674 - SUSTAINABILITY, ACCOUNTING AND INTEGRATED REPORTING LABORATORY Second Year / Second Semester 4 ECON-10/A ITA
GRUPPO AFFINI GIURIDICI - 8 - -
119029 - BUSINESS CRISIS AND INSOLVENCY LAW Second Year / Second Semester 8 GIUR-02/A ita
119990 - CORPORATE TAX LAW Second Year / Second Semester 8 GIUR-08/A ita
GRUPPO ALTRE ATTIVITA' CURR. FINAN. 24-25 - 4 - -
119045 - PROFESSIONAL ACTIVITY First Year / First Semester 4 ita
120409 - DIGITAL SKILLS LAB: DATA ANALYTICS WITH R Second Year / First Semester 4 IINF-05/A ita
121697 - LAB OF FINANCIAL STRATEGIES AND APPLICATIONS Second Year / First Semester 4 ECON-09/B ITA
GRUPPO AFFINI CURRICULUM FINANZA - 8 - -
120413 - ASSET MANAGEMENT First Year / Second Semester 8 ECON-09/B ITA
120415 - SUSTAINABLE CORPORATE FINANCE First Year / Second Semester 8 ECON-09/A ITA
121632 - MULTIVARIATA STATISTICS AND DATA MINING First Year / Second Semester 8 STAT-02/A ITA
NEW GROUP - 16 - -
18487 - REPORTING AND CONTROL OF FINANCIAL INTERMEDIARIES Second Year / First Semester 8 ECON-06/A ita
121694 - BUSINESS VALUATIONS Second Year / First Semester 8 ECON-06/A ITA
121696 - CAPITAL MARKETS, DATA AND FINANCIAL APPLICATIONS - 8 - -
121696_1 - ADVANCED CAPITAL MARKETS AND FINANCIAL ENGINEERING Second Year / First Semester 4 ECON-09/B ENG
121696_2 - MACHINE LEARNING FOR FINANCE Second Year / First Semester 4 ECON-09/B ENG
NEW GROUP OTHER ACTIVITIES - 12 - -
121599 - ITALIAN LANGUAGE First Year / First Semester 4 ITA
121600 - INTERNSHIP AND SEMINARS - OTHER ACTIVITIES First Year / First Semester 8 ENG
121649 - INTERNSHIP AND SEMINARS - OTHER ACTIVITIES First Year / First Semester 12 ITA
ELECTIVES - 8 - -
121593 - MARKETING DATA AND AI Second Year / First Semester 8 ECON-07/A ENG
120395 - INNOVATION AND PRODUCTSUSTAINABLE DEVELOPMENT Second Year / First Semester 8 ECON-10/A eng