ID:
508215
Duration (hours):
66
CFU:
9
SSD:
METODI MATEMATICI DELL'ECONOMIA E DELLE SCIENZE ATTUARIALI E FINANZIARIE
Year:
2025
Overview
Date/time interval
Primo Semestre (22/09/2025 - 19/12/2025)
Syllabus
Course Objectives
This course equips students with the analytical tools needed to formalise, analyse and evaluate economic and financial problems in a rigorous yet practically oriented way, reflecting the applied nature of management and accounting studies.
The first part of the course introduces the core principles of Mathematical Finance, covering the valuation of financial projects and fixed-income securities, the dynamics of the term structure of interest rates, and the use of duration, convexity and basic immunization techniques in managing interest rate risk. Students will acquire the quantitative skills needed to understand how financial markets operate and how standard financial transactions are structured in real-world settings.
The second part of the course focuses on firm valuation. After reviewing the main indicators of corporate value, we examine the valuation methods most widely used in practice, including the Discounted Cash Flow (DCF) model, the Dividend Discount Model (DDM), and the multiples-based approach. Each method is discussed with reference to the operational formulas that support its application.
By the end of the course, students will be able to select the valuation framework most appropriate for a given problem, organise the information required to set up a quantitative model, and translate a decision problem into its analytical formulation
The first part of the course introduces the core principles of Mathematical Finance, covering the valuation of financial projects and fixed-income securities, the dynamics of the term structure of interest rates, and the use of duration, convexity and basic immunization techniques in managing interest rate risk. Students will acquire the quantitative skills needed to understand how financial markets operate and how standard financial transactions are structured in real-world settings.
The second part of the course focuses on firm valuation. After reviewing the main indicators of corporate value, we examine the valuation methods most widely used in practice, including the Discounted Cash Flow (DCF) model, the Dividend Discount Model (DDM), and the multiples-based approach. Each method is discussed with reference to the operational formulas that support its application.
By the end of the course, students will be able to select the valuation framework most appropriate for a given problem, organise the information required to set up a quantitative model, and translate a decision problem into its analytical formulation
Course Prerequisites
Mathematics (Matematica Generale) is a prerequisite for Mathematical Methods for Enterprise Applications. Moreover, familiarity with the main concepts covered in Statistics and Management (Economia Aziendale) courses is expected
Teaching Methods
Lectures and Practical Exercises
Assessment Methods
Attending and not attending students
To be admitted to the exam, students must have successfully passed, and had officially recorded, the Mathematics (General) exam
The written exam may be followed by an oral assessment, should the Examination Committee consider it necessary
The written assessment consists of six questions, combining numerical exercises and short theoretical items. It includes four multiple-choice questions and two open-ended questions
To be admitted to the exam, students must have successfully passed, and had officially recorded, the Mathematics (General) exam
The written exam may be followed by an oral assessment, should the Examination Committee consider it necessary
The written assessment consists of six questions, combining numerical exercises and short theoretical items. It includes four multiple-choice questions and two open-ended questions
Texts
Attending and not attending students
Required textbooks
G.L. Ceccarossi, F. Tramontana, Matematica Finanziaria (con quiz di autovalutazione ed esercizi svolti e commentati), Giappichelli, Torino 2025 - ISBN 9-791221-107630
F. Perrini (a cura di) Letture su valutazione d’impresa, vantaggio competitivo e ESG, EGEA, Milano, 2024 - ISBN 978-88-6407-485-6
Teaching notes and exercises published on the KIRO platform constitute required course material.
Additional bibliography
M. E. De Giuli, M. A. Maggi, F. M. Paris, (2014-ultima edizione), Lezioni di Matematica Finanziaria, Giappichelli, Torino - ISBN 9-788834-849163
S. Romagnoli, (2019), Mathematical Finance-Theory and Practice, Esculapio ISBN: 9788893851510
S. Benninga, (2010), Modelli Finanziari - La Finanza con Excel, Mac Graw-Hill Education - ISBN 9788838666377
Required textbooks
G.L. Ceccarossi, F. Tramontana, Matematica Finanziaria (con quiz di autovalutazione ed esercizi svolti e commentati), Giappichelli, Torino 2025 - ISBN 9-791221-107630
F. Perrini (a cura di) Letture su valutazione d’impresa, vantaggio competitivo e ESG, EGEA, Milano, 2024 - ISBN 978-88-6407-485-6
Teaching notes and exercises published on the KIRO platform constitute required course material.
Additional bibliography
M. E. De Giuli, M. A. Maggi, F. M. Paris, (2014-ultima edizione), Lezioni di Matematica Finanziaria, Giappichelli, Torino - ISBN 9-788834-849163
S. Romagnoli, (2019), Mathematical Finance-Theory and Practice, Esculapio ISBN: 9788893851510
S. Benninga, (2010), Modelli Finanziari - La Finanza con Excel, Mac Graw-Hill Education - ISBN 9788838666377
Contents
First Part
Spot/forward financial transactions. The financial functions and its properties The financial conventions (simple convention, compound convention, commercial convention)
Annuities: classification of annuities. Annuities in simple convention, in compound convention, in commercial convention. Time indexes
Sinking funds
Unshared loan amortization
Valuation of financial projects and decision criteria based on profitability and liquidity metrics
Bonds'market The structure of the market. From prices to rates/yields. The term structure of interest rates ( spot/forward rates)
Duration and convexity. Immunization: basic principles
Second Part
Indicators and measures of firm's value
The Discounted Cash Flow (DCF) method
The Dividend Discount Model (DDM)
The multiples-based approach
Spot/forward financial transactions. The financial functions and its properties The financial conventions (simple convention, compound convention, commercial convention)
Annuities: classification of annuities. Annuities in simple convention, in compound convention, in commercial convention. Time indexes
Sinking funds
Unshared loan amortization
Valuation of financial projects and decision criteria based on profitability and liquidity metrics
Bonds'market The structure of the market. From prices to rates/yields. The term structure of interest rates ( spot/forward rates)
Duration and convexity. Immunization: basic principles
Second Part
Indicators and measures of firm's value
The Discounted Cash Flow (DCF) method
The Dividend Discount Model (DDM)
The multiples-based approach
Course Language
Italian
More information
Other information is provided through course-related announcements and communications
Degrees
Degrees
BUSINESS ADMINISTRATION AND GOVERNANCE
Bachelor’s Degree
3 years
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