Economics of Innovation

Educational objectives

The course provides students with a basic knowledge of private entities, profit and no-profit, in relation to the characteristics, operation, economy, business and funding sources. It also aims to introduce the concepts of income and capital through the use of quantitative tools and accounting.

LEARNING OUTCOMES

Foreground

Students who have passed the examination will be able to apply fundamental knowledge gained about the private entities, profit and no-profit, particularly with regard to characteristics, operation, economy, business and funding sources.

Acquired skills

Students who have passed the examination will be able to understand the variables that guide the behaviour and decisions of entities and, in particular, will acquire the skills necessary to assess the affordability and financial viability of business plans. Students who have passed the examination will also manage accounting operations in order to prepare the financial statements, to interpret the results achieved by companies and to evaluate their performance.

Educational objectives

Knowledge and understanding: students will be able to understand the fundamentals of Italian public law, with the Republican Constitution as an essential point of reference.
Applying knowledge and understanding: students will be able to read and understand a normative text, a judicial decision or an administrative measure in their fundamental elements, as well as to solve the legal issues underlying these acts in their essential elements.
Making judgement: students will develop an autonomous judgment capability on the fundamentals of Italian public law, in a historical, theoretical, critical and comparative perspective.
Communication skills: students will develop an attitude to legal reasoning and the ability to argue on the fundamentals of Italian public law.
Learning skills: students will be able to continue their studies and, in particular, to face the other courses in the legal disciplinary field benefiting from the knowledge of the fundamentals of Italian public law.

Educational objectives

The course ‘Matematica Corso Base’ provides the main notions of Calculus for economic, business, and financial models: functions, limits and continuity, derivatives, differentiation rules, integrals. Systems of (parametric) linear equations. Functions of n variables.

Knowledge and understanding: the students will be able to manage the theoretical frame as well as to perform the calculus on functions, limits and continuity, derivatives, differentiation rules, integrals, Systems of linear equations. They will learn also basic notions related to functions of two or more variables.

Students will be able to apply the basic mathematical models and methods that are used in the analysis of economic, business, and financial problems.

Students will develop the skills to determine the tools needed for tackling the objectives of the course.

Students will develop some attitude to mathematical logic, the attitude to express concepts through a formal mathematical language, and the skill to prove a result through a rigorous proof.

Students will be able to continue in their program of studies, exploiting the acquired mathematical knowledge in the following advanced courses in which the quantitative approach is used.

Educational objectives

General goals

The aim of the course is to illustrate the basic concepts of modern economic theory. In the frontal lessons, the exposition of theoretical issues is integrated with the description of the main features of contemporary economies.

The first part of the course examines the consumer choice theory and the theory of the firm in order to clarify the forces that determine prices and quantities in the markets. The analysis is based on the study of both the individual choices and interaction among economic agents under different market regimes (perfect competition, monopoly).

The second part deals with the functioning of economic systems seen as a whole. The aim is to provide the tools for the analysis and explanation of the evolution of the main macroeconomic variables (GDP, employment, consumption, investment, public budget, rates of interests).

Specific goals

More in detail, the course aims at allowing the student:

A) to develop adequate basic knowledge and understanding in the field of Economics;
B) to apply the knowledge and methods acquired to both the construction of lines of arguments and the analysis of complex problems in the field of economics;
C) to develop autonomous views concerning economic issues;
D) to properly communicate information, concepts, problems, and associated solutions in the field of Economics, even to a non-specialized audience;
E) to acquire the knowledge and the learning methods necessary to pursue the study of economic disciplines in the subsequent academic years.

Educational objectives

The Institutions of Private Law course is aimed at making students learn the fundamentals of private law, that is, of the set of rules governing relations between private individuals and between private individuals and the Public Administration in cases in which the latter acts iure privatorum, that is, as a private subject and without the exercise of the authoritative powers that are its own. The course introduces to the institutional notions of private law, subjects of law, legal relationship and private autonomy, through methodological education to a constant consultation of normative sources and an initial analysis of doctrinal and jurisprudential arguments. Particular attention will be paid to the law of obligations and contracts, decisive institutes in the training of both the professional with managerial functions and those who, wishing to continue their studies, intend to acquire skills for the performance of the activity of auditors, certified public accountants and business professionals.
Students who have passed the examination will be able to apply institutional notions, interpret a text of the law, verify what are the legal consequences arising from a certain conduct of private individuals, and distinguish the main rights over things. They will, likewise, be in a position to understand the main instruments of legal circulation, evaluating, in relation to the individual hypotheses of each case, which of the negotiations should be considered preferable in order to meet the needs that, from time to time, arise, thus also identifying the differential features in the choice of one rather than another of them. They will also be in a position to understand, illustrate and set up technical issues concerning the law of persons, the law of succession, rights in rem, the law of obligations and contracts, and the discipline of contractual and non-contractual liability, as well as to draft the text of elementary exchange contracts or the main unilateral legal acts in compliance with the regulations in force.

Educational objectives

The course is designed to provide a basic understanding about the preparation of financial statements in light of Italian law.

At the end of the course, student should demonstrate to be able to prepare financial statements according to law. Specifically, is requested the ability to understand the basic approach to the definition of income and equity, to record transactions, to measure assets and liabilities according to Italian rules, to prepare the documents that constitute financial statements.

Educational objectives

In line with the curricula of the Faculty’s course programmes, the B2 English course is aimed at developing both written and oral skills in the academic and professional subject areas relevant to the student’s own specialized, undergraduate fields of study. Course activities make extensive use of audiovisual materials and computer-mediated aids. In particular, this focus on English for specific purposes is placed in a socio-cultural context, in which intercultural variables and the significance of English as an academic and professional lingua franca are explored: students will therefore encounter a large variety of texts produced in a wide range of contexts of use.
On completion of the course, a B2 level student should possess the following competences, as stated in the Common European Framework of Reference for Foreign Languages:
B2 - Can understand conversations, extended speech and interviews in English and can follow most discussions providing the topic is relatively familiar. Can interact with a level of fluency and spontaneity that makes regular interaction quite possible, with a degree of accuracy, independence and clarity.
Can understand the main ideas of complex text on both concrete and abstract topics, including technical discussions in his/her field of study. Can obtain, organize and record in writing information, ideas and opinions from specialized and semi-specialized sources.

Educational objectives

The course aims to illustrate and transfer knowledge related to the functioning of business organizations and the activities of business decision makers, using multiple disciplinary approaches. Thus, students will acquire an integrated and comprehensive vision of the company, suitable for the development of basic analytical skills, useful in business practice.
The course is aimed at allowing students to acquire at least the following expected results:
- knowledge and understanding: the students who will pass the final exam will be provided with adequate knowledge about the functioning of the business organizations and the activities of the company decision makers. In particular, they will know the essential tasks and guidelines of governance decisions and will handle the essential tools for setting and controlling the company's evolutionary dynamics, paying attention to the balance between real economy and finance in governance;
- applying knowledge and understanding: students passing the final exam will be provided with a realistic and critical vision of modern companies and the tasks of company decision makers. They will know how to combine orientation to results and attention to risks, evaluate efficiency, effectiveness and profitability, set up company dynamics aimed at pursuing economic, financial and organizational balance. They will be able to configure the basic elements of the organizational structure of the company and apply the basic tools of strategic and financial analysis of the company (strategic analysis matrices, cost, revenues, contribution, profit model, operational leverage, financial leverage, performance management and measurement);
- making judgements: critical and judgmental skills will be acquired through the illustration of business cases and the discussion of concrete economic and financial business dynamics, as well as through the application of basic tools for strategic and financial analysis;
- communication skills: through lectures and in-class discussion, students will be able to expose business issues and related decisions designed to address them, within the general economic framework of the external environment and industry, plan structure and governance decisions, evaluate of the economic-financial results, set organizational and strategic actions and be aware of their implications on performance;
- learning skills: thorough class participation, discussion with the teacher, personal study and test, students will acquire the ability to continue their studies independently.

Educational objectives

The course aims at providing both knowledge of theories, models and tools of economic policy and ability to apply them to national and international, corporate and institutional issues. These skills more specifically will allow to work in institutions and in economic research centers, in particular for the design, application, evaluation and control of economic choices; in companies, specifically to define strategies and evaluate their results in the micro and macroeconomic institutional context; in the professions, for knowing better the economic environment in which they operate and make accurate forecasts.
By making use of the Dublin descriptors, the following detailed objectives can be identified:
A) At the end of the course, the student must be able to understand the micro and macroeconomic issues related to the economic policy debates, such as the internalization of externalities, the sustainability of the public debt or the management of monetary policy.
B) The student must be able to identify the pros and cons of the various economic policy solutions proposed to face the microeconomic and macroeconomic failures of the market. The assessment of the student should not only be theoretical but also quantitative, at least at a simplified level.
C) The student must be able to propose in an autonomous and critical way solutions to various problems of economic policy; in particular she must be able to identify which type of market failure the problem belongs to; suggest possible solutions and evaluate their strengths and weaknesses, by making use also of cost-benefit analysis if appropriate.
D) The student must be able to communicate at different levels, possibly through a graphic or mathematical formalization, the logic of economic policy and the mechanisms of transmission of public action.
E) The student must be able to master the key concepts, techniques and basic models of economic policy in order to use them (qualitatively and quantitatively) at a more advanced level also to integrate them with concepts and tools of such disciplines as political economy, statistics and public finance.

Educational objectives

The main objective of the course is to make students able to carry out a quantitative analysis of real phenomena and to interpret the results. To this end, during the lessons the main tools and methods of descriptive and inferential (univariate and bivariate) statistics will be discussed, focusing on both the theoretical/methodological aspects and the analysis of real data. In particular, many examples based on real problems will be shown, especially concerning phenomena in the business, socioeconomic and financial fields.

The student who is sufficient to the exam:
1) will have acquired the basic tools of statistics, such as descriptive statistics and basic inferential techniques;
2) will be able to apply all the methodologies described in the course to real data, choosing the most appropriate tools to be applied in the analysis of specific phenomena of interest;
3) will be able to interpret, discuss and criticize the obtained results. The development of this specific skill also derives from frequent discussions encouraged by the teacher, during the presentation of empirical applications;
4) will be able to communicate the methodologies as well as the results of empirical analysis with a proper language. This specific skill also derives from active participation to discussion in the classroom encouraged by the teacher;
5) will be able to to autonomously carry out statistical analyses and to understand more complex concepts and methodologies. In particular, these tools include tables and graphs, statistical indices, statistical relationships between phenomena, inferential procedures.

Educational objectives

The course aims to provide students with the basic knowledge and skills on the functioning of the financial system.
In particular, the course aims to analyze the essential elements of the financial system, namely: financial intermediaries, financial instruments and markets, the regulatory and supervisory system.

A) Knowledge and understanding: students will acquire the basic knowledge on the elements of the financial system and will be able to understand the fundamental mechanisms of its functioning. Specifically, students will develop knowledge and skills in relation to financial intermediation in terms of instruments, markets, intermediaries, rules and supervisory authorities that constitute the fundamental elements of the financial system.
B) Applying knowledge and understanding: Students will be able to apply the concepts learned to real situations and specific cases concerning the main technical-economic aspects of credit and financial transactions.
C) Making judgements: The teaching methodology is based on active discussion of official documentation (eg. The Bank of Italy Annual Report) or specialized press, that gives students the opportunity to assume positions argued with reference to the issues of the course.
D) Communication skills: At the end of the course students will be able to express the main topics with argumentative coherence, systematic rigor and ownership of economic-financial language.
E) Learning skills: Students will be able to reconstruct both general and institutional topics, and more specifically themes focused on particular aspects of the financial system and financial intermediaries.

Educational objectives

General goals.

The course aims to provide the basic concepts of the Economics of Innovation building on two major theoretical strands--evolutionary and neoclassical--and integrating the illustration of models with the discussion of empirical evidence concerning the determinants, diffusion and impact of technological change, at the micro and macro level. Finally, the theoretical concepts and empirical tools provided to students will be used as the basis for a discussion of the key principles of industrial and innovation policies.

The first part of the course will focus on theories studying the relationship between science, technology and innovation. In what follows, some of the fundamental microeconomic models describing nature and behavior of the innovative firm are illustrated accounting for R&D, product, process and organizational innovation. Second, the course will focus on theoretical models analyzing the relationship between technological change and market structure. Third, theories that focus on ‘appropriability’ (patents) and diffusion processes will be explained. Concerning each theoretical domain, the lectures will refer to the different strands of literature emphasizing peculiarities, similarities and differences.

The second part of the course will focus on the relationship between technological change and economic growth as well as on the effects of innovation on employment. As for the first part, the main exogenous and endogenous growth models will be illustrated highlighting the different ways in which the role of technological innovation is modeled. The relationship between innovation and growth will be discussed with reference to evolutionary models emphasizing the role of history and institutions in explaining the diffusion of innovation and its impact on economic growth. The relationship between innovation and employment will be illustrated building on evolutionary models that account for the heterogeneity of innovation processes, the role of compensatory mechanisms and that of institutions.

The course will conclude with a discussion of the key principles of industrial and innovation policies stimulating students to use the theoretical tools acquired during the course to reflect on the nature and potential effectiveness of different policies.

Specific goals.

More specifically, the course aims to provide the student with:
A) knowledge of the main theories of the innovative firm and innovation incentives;
B) knowledge of models aimed at analyzing the relationship between innovation, imitation, knowledge protection (patents) and market structure;
C) knowledge of theories illustrating the relationship between innovation and economic growth and those analyzing the effects of innovation on employment;
D) the ability to analyze and critically discuss the ongoing process of digitization of production, consumption and, more generally, economic relationships;
E) the ability to analyze and critically discuss major industrial and innovation policies, with particular reference to the national and European economic policy debate, focusing on their ability to promote innovation and maximizing social welfare.

Educational objectives

The primary learning outcome of this subject is to allow students to learn theoretical elements and basic mathematical instruments to evaluate elementary financial operations. Furthermore, students must know how to interpret the results of their application to real problems.

Specific objectives

Knowledge and understanding: After attending the course, students know and understand the problems related to the evaluation of the basic financial operations and mathematical models to be used to solve such problems.

Capacity to apply knowledge and understanding: At the end of the course, students can formalize basic financial operations, according to the correct mathematical approach and apply specific models of the subject, to solve evaluation problems.

Autonomous judgment: At the end of the course, students can collect and read data concerning basic and complex financial, borrowing-and-lending as well as investment operations, also in a context governed by fixed or varying interest rates.

Communication skills: At the end of the course, students can explain and represent problems and solutions in the financial field, through the methods acquired.

Learning skills: At the end of the course, students acquired basic financial logic that will allow them to approach further studies in the area of theories and processes of complex financial markets.

Educational objectives

Expected Learning outcomes:
Knowledge and understanding:
• Students will acquire the basic knowledge and theoretical and methodological foundations to interpret organisational forms and to understand the fundamental characteristics of the most relevant technological innovations and the impact they can have on the way organisations of various kinds operate and relate to their environment.

Ability to apply knowledge and understanding:
• Students will be able to apply the theoretical and methodological knowledge acquired to real organisational contexts, including through the development of individual or group project activities in which they will be encouraged to examine a process of organisational adoption of an innovative digital solution, considering the actions implemented, the difficulties encountered, the benefits gained and any risks

Making judgements:
• Students will be asked to make their own individual judgements at several points: in evaluating the relationships between the cases proposed for the in-class exercises and the lecture topic, in discussing the cases examined and specific topics during the lectures, and during the presentation of other groups' projects. It is therefore expected that students, at the end of the course, will be able to interpret a case through what they have learned during the course, and to assess the appropriateness of using a tool or solution in a given context.

Communications Skills:
• During the course, students will be involved in various communication activities: group discussions, class discussion on aspects of the theme of each lesson, group presentation of the lesson theme (when assigned), and presentation of group work at the end of the course. This will give students the opportunity to acquire and understand key terms and concepts related to the evaluation and management of a digital innovation, to experience oral communication and to become familiar with how to present a specific topic and a final report in a clear manner and pointing out the main interesting aspects.

Learning skills:
• This course will help equip students with the ability to explore an organisational context, particularly when engaged in a digital innovation, and to consider positive and negative aspects, and to consider different possible alternatives.

Educational objectives

the final exam consists of the presentation of an essay related to the activities conducted during the stage/Thesis-Work.
The preparation for this exam make it necessary for the student to get skills related to the presentation of her/his work,and the capability to discuss and argue with an audience fully aware of the topics presented.