Finance and insurance

Educational objectives

The course aims to provide an in-depth understanding of the theoretical principles and analytical methodologies of contemporary economics and monetary policy, with particular attention to the functioning of monetary and financial institutions and markets, and to monetary policy decisions in major economic systems.
Students will acquire a systematic understanding of advanced monetary policy theories, transmission mechanisms, and the ways in which expectations and strategic interactions among agents influence macroeconomic equilibria.
At the end of the course, students will be able to understand and critically analyse theoretical models and empirical evidence regarding the role and actions of central banks, evaluate the outcomes and limitations of monetary policies in different international contexts, and independently interpret the scientific and institutional debate on the topic. The course also aims to consolidate independent judgment in evaluating complex economic information and communication skills in presenting concepts and results, both in academic and professional contexts. The competences acquired will provide a solid methodological foundation for accessing post-graduate pathways, such as second-level master’s programs or doctoral research in economic–quantitative fields.

Educational objectives

The course provides students with the fundamental methods of econometrics applied to finance, aiming to analyse and interpret complex economic and financial phenomena through the processing and evaluation of high-variability data. Particular attention is given to linear and non-linear regression techniques, the management of endogeneity issues, and panel data analysis, combining methodological rigor with empirical application. At the end of the course, students will be able to recognize, understand, and apply the main tools of financial econometrics, formalize real-world problems in terms of econometric models, and critically analyse and interpret the obtained results. They will also be able to assess the adequacy of the methodologies employed, select the most appropriate models, and implement estimation procedures consistent with the model assumptions. The course approach promotes the development of independent judgment in the interpretation of empirical results, communication skills in the use of the technical-scientific language of the discipline, and autonomous learning abilities for exploring new quantitative analysis tools. The competences acquired will enable students to successfully approach subsequent quantitative courses and consolidate a rigorous analytical method applicable across various areas of empirical finance.

Educational objectives

The laboratory provides students with an in-depth theoretical and operational understanding of the main financial risks faced by banking institutions and investors, with particular focus on interest rate risk, credit risk, liquidity risk, and market risk. Through the analysis of real-world cases and the use of quantitative and computational tools (such as Excel, Asset & Liability Management simulators, and financial data platforms), students will develop the ability to identify, classify, and measure different types of financial risk.
They will be able to apply key risk assessment models and indicators, including duration, Value at Risk (VaR), Economic Value of Equity (EVE) sensitivity, and gap analysis, and will learn to interpret and communicate results from both managerial and regulatory perspectives. The laboratory also fosters independent judgment and critical thinking in the selection and application of analytical tools, enhancing students’ ability to evaluate hedging strategies and to integrate quantitative analyses into risk management decision-making processes.

Educational objectives

The course aims to enhance students’ transversal skills, with particular focus on relational, communication, and decision-making abilities, which are essential to effectively navigate the professional world. Through practical workshops and collaborative sessions, conducted with support from the ICCREA Banca Group, students experience realistic professional situations, applying strategies in communication, problem-solving, and teamwork. Activities such as drafting a professional CV, mock interviews, and working on concrete problems help develop autonomy in managing complex situations, critical thinking, and collaboration. By the end of the course, students will be able to plan and pursue professional goals, present their ideas clearly, and adapt to dynamic and collaborative contexts. Acquired transversal skills, including stress management, emotional awareness, and resilience, strengthen both personal and professional preparation, facilitating entry into financial or managerial fields and supporting further advanced education pathways.

Educational objectives

The course aims to provide an in-depth understanding of the theoretical principles and analytical methodologies of contemporary economics and monetary policy, with particular attention to the functioning of monetary and financial institutions and markets, and to monetary policy decisions in major economic systems.
Students will acquire a systematic understanding of advanced monetary policy theories, transmission mechanisms, and the ways in which expectations and strategic interactions among agents influence macroeconomic equilibria.
At the end of the course, students will be able to understand and critically analyse theoretical models and empirical evidence regarding the role and actions of central banks, evaluate the outcomes and limitations of monetary policies in different international contexts, and independently interpret the scientific and institutional debate on the topic. The course also aims to consolidate independent judgment in evaluating complex economic information and communication skills in presenting concepts and results, both in academic and professional contexts. The competences acquired will provide a solid methodological foundation for accessing post-graduate pathways, such as second-level master’s programs or doctoral research in economic–quantitative fields.

Educational objectives

The course provides students with the fundamental methods of econometrics applied to finance, aiming to analyse and interpret complex economic and financial phenomena through the processing and evaluation of high-variability data. Particular attention is given to linear and non-linear regression techniques, the management of endogeneity issues, and panel data analysis, combining methodological rigor with empirical application. At the end of the course, students will be able to recognize, understand, and apply the main tools of financial econometrics, formalize real-world problems in terms of econometric models, and critically analyse and interpret the obtained results. They will also be able to assess the adequacy of the methodologies employed, select the most appropriate models, and implement estimation procedures consistent with the model assumptions. The course approach promotes the development of independent judgment in the interpretation of empirical results, communication skills in the use of the technical-scientific language of the discipline, and autonomous learning abilities for exploring new quantitative analysis tools. The competences acquired will enable students to successfully approach subsequent quantitative courses and consolidate a rigorous analytical method applicable across various areas of empirical finance.

Educational objectives

The course aims to enhance students’ transversal skills, with particular focus on relational, communication, and decision-making abilities, which are essential to effectively navigate the professional world. Through practical workshops and collaborative sessions, conducted with support from the ICCREA Banca Group, students experience realistic professional situations, applying strategies in communication, problem-solving, and teamwork. Activities such as drafting a professional CV, mock interviews, and working on concrete problems help develop autonomy in managing complex situations, critical thinking, and collaboration. By the end of the course, students will be able to plan and pursue professional goals, present their ideas clearly, and adapt to dynamic and collaborative contexts. Acquired transversal skills, including stress management, emotional awareness, and resilience, strengthen both personal and professional preparation, facilitating entry into financial or managerial fields and supporting further advanced education pathways.

Educational objectives

The training activities designed to support employability aim to strengthen students’ transversal, practical, and professional skills, facilitating their transition into complex and dynamic work environments. These activities include participation in seminars, workshops, scientific conferences, and training programs leading to online certifications or micro-credentials, developed in collaboration with leading companies and institutions such as ARPM, MathWorks, 4CareItalia, Gruppo ICCREA Banca, and Eurizon. The objective is to enrich students’ professional profiles by fostering complementary skills that enhance adaptability, productivity, and problem-solving abilities in financial, insurance, and technological contexts. Practical and collaborative experiences are intended to develop independent judgment, critical thinking, analytical, and communication skills, providing essential tools for defining and pursuing personal and professional goals. Upon completion, students will be able to apply the transversal competences acquired, interact effectively with professionals and experts, understand the dynamics of the labor market and research environments, and leverage their preparation in both professional and academic contexts. The degree program also promotes internships with partner companies and institutions, and, upon prior approval, might recognize participation in scientific conferences as part of the student’s educational pathway.

Educational objectives

The course gradually introduces students to applied programming and the simulation of random phenomena in financial contexts, starting from the fundamentals of programming and requiring no prior experience. It provides skills in formalizing uncertainty, implementing probabilistic and stochastic models, and using simulation methods to analyze and interpret the dynamics of financial phenomena. By the end of the course, students will be familiar with the main probabilistic and stochastic models used to formalize problems under uncertainty and will be able to implement simulation models to study financial processes. They will develop practical skills in programming languages and applications to perform simulations and compare numerical results with analytical solutions. Students will be able to independently identify the most appropriate model for studying each financial phenomenon, analyze and understand financial dynamics, and assess the reliability and appropriateness of the results within the considered context. They will be able to communicate rigorously using precise formal language, clearly articulating hypotheses, results, and insights. Finally, students will have acquired a solid foundational knowledge and a systematic study method, essential for understanding more advanced techniques of quantitative modeling and simulation.

Educational objectives

The training and career-enabling skills development activities aim to strengthen students' transversal and practical skills, facilitating their entry into the workforce and preparing them for complex professional environments. These activities include seminars, workshops, internships, and online certification or micro-credential programs, in collaboration with leading companies and institutions. The goal is to enhance students' professional profiles with additional skills, improving adaptability, productivity, and the ability to address real-world situations in the financial, insurance, and technology fields. Students will participate in practical and collaborative experiences that foster independent judgment, critical thinking, analytical, and communication skills, acquiring valuable tools for defining and pursuing personal and professional goals. Upon completion of the program, students will be able to apply the transversal skills they have acquired, interact effectively with professionals and experts, and understand the dynamics of the business world.

Educational objectives

Blended Intensive Programmes (BIPs) are short, intensive programmes that use innovative forms of learning and teaching, including both face-to-face and virtual activities.
The primary objectives of CIVIS BIPs are to foster blended learning and make international mobility accessible to all.
BIPs are designed to address the following global, interdisciplinary challenges: Climate, environment, and energy; Cities, territories, and mobility; Digital and technological transformations; and Society, culture, and heritage.
BIPs enable students to engage with multicultural environments, develop language skills (primarily in English), and network with peers from across Europe while working in international teams to solve complex problems.

Educational objectives

The course offers students the opportunity to consolidate and apply the knowledge by observing, describing, and interpreting financial phenomena and related risk management. Dedicated training activities are provided through agreements with organizations and companies. The program encompasses the areas of business communication, new technologies, soft skills, and management, with the goal of developing skills that allow students to appreciate the challenges and opportunities that
arise from technological and communication skills for a more complete understanding of the world.
By the end of the course, students will have mastered specific software and platforms, as well as fundamental skills for teamwork, conflict management, job interviews, and emotional awareness.
Practical workshops for case study and data analysis, group work, and collaborative sessions foster independence in choosing tools and methodologies, communication skills for presenting and arguing results, and independent learning abilities to stay abreast of emerging techniques.

Educational objectives

The course provides students with in-depth theoretical and practical knowledge of financial portfolio management, focusing specifically on interest rate, credit, liquidity, and market risks. Through the analysis of real-world cases and the use of quantitative and computational tools, students will develop the ability to identify, classify, and measure various types of risk.
They will learn to apply models and will be able to interpret and communicate results with regard to both the management perspective and the relevant regulatory framework.
Furthermore, the course fosters independent judgment and critical thinking in the selection and application of the most appropriate analytical tools, encouraging students to evaluate hedging strategies and integrate quantitative analysis into the decision-making processes involved in financial portfolio selection.

Educational objectives

The course aims to enhance students’ transversal skills, with particular focus on relational, communication, and decision-making abilities, which are essential to effectively navigate the professional world. Through practical workshops and collaborative sessions, conducted with support from the ICCREA Banca Group, students experience realistic professional situations, applying strategies in communication, problem-solving, and teamwork. Activities such as drafting a professional CV, mock interviews, and working on concrete problems help develop autonomy in managing complex situations, critical thinking, and collaboration. By the end of the course, students will be able to plan and
pursue professional goals, present their ideas clearly, and adapt to dynamic and collaborative contexts.
Acquired transversal skills, including stress management, emotional awareness, and resilience, strengthen both personal and professional preparation, facilitating entry into financial or managerial fields and supporting further advanced education pathways.

Educational objectives

The course offers students the opportunity to consolidate and apply the knowledge by observing, describing, and interpreting financial phenomena and related risk management. Dedicated training activities are provided through agreements with organizations and companies.
The program encompasses the areas of business communication, new technologies and management, with the goal of developing skills that allow students to appreciate the challenges and opportunities that arise from technological and communication skills for a more complete understanding of the world.
By the end of the course, students will acquire a "hands on" experience on mainstream digital technologies; get in touch with top companies; obtain a certification of the acquired skills.
Practical workshops for case study and data analysis, group work, and collaborative sessions foster independence in choosing tools and methodologies, communication skills for presenting and arguing results, and independent learning abilities to stay abreast of emerging techniques.

Educational objectives

The course introduces students to the principles and techniques of financial econometrics and empirical finance, with particular focus on the analysis of real-world data and the quantitative modeling of risk. Advanced statistical models, such as those for limited dependent variables and vector autoregressive models, are presented to analyze complex financial scenarios.
By the end of the course, students will have acquired a solid understanding of financial econometrics and empirical finance and will be able to apply advanced statistical models for analyzing financial data and managing risk. They will be capable of critically selecting the most appropriate models for each problem and will have developed skills in implementing and calibrating model parameters using specialized computational tools to estimate, simulate, and validate complex financial scenarios. Students will be able to interpret and rigorously discuss the results of their analyses. They will be familiar with formal technical language and will be able to present and explain models and results to both technical and non-technical audiences. Students will also be able to continue and independently develop their studies in the subject area and, more generally, will possess the skills and tools to conduct research and in-depth investigations on quantitative topics in finance.

Educational objectives

The course offers students the opportunity to consolidate and apply the knowledge acquired in the same year's courses by observing, describing, and interpreting financial phenomena and related risk management. Dedicated training activities are provided through agreements with organizations and companies. The program encompasses the areas of business communication, new technologies, soft skills, and management, with the goal of developing skills that allow students to appreciate the challenges and opportunities that arise from technological and communication skills for a more complete understanding of the world (particularly the financial and insurance world).
By the end of the course, students will have mastered specific software and platforms, as well as fundamental soft skills for teamwork, conflict management, job interviews, and emotional awareness. Practical workshops for case study and data analysis, group work, and collaborative sessions foster independence in choosing tools and methodologies, communication skills for presenting and arguing results, and independent learning abilities to stay abreast of emerging techniques. Specifically, the course strengthens the soft skills needed for working in collaborative environments and for effective financial and risk management operations.

Educational objectives

The course presents quantitative models and methods for measuring and managing default and credit risk and for managing credit derivative portfolios. With particular reference to the Basel III agreements and the introduction of Credit Value Adjustment (CVA), the course explores the models used to assess counterparty risk and determine capital requirements. A significant portion of the course is dedicated to the mathematical and numerical modeling of CVA and Wrong-Way Risk, with applications to the construction of counterparty risk mitigation strategies in derivative portfolios. Upon completion of the course, students will have acquired the quantitative skills necessary for analyzing and managing credit risk in modern financial systems. They will be able to analyze and implement default and pricing models for financial instruments tied to credit events, such as defaulted bonds and credit default swaps, and will have the theoretical knowledge to estimate the probability and expected loss given default. The practical work, based on the application of advanced statistical models through specialized software, allows students to develop autonomy in model evaluation, calibration, and validation. Empirical analyses conducted on real data develop students' ability to interpret results in a professional risk management context and present them appropriately, using a specific technical glossary. Upon completion of the course, students will have acquired independent learning skills that will enable them both to pursue advanced specialization courses in quantitative analysis of financial markets and risk management, and to establish themselves as professionals in these same fields.

Educational objectives

The course provides a broad and in-depth overview of the most advanced dynamic models used in the statistical analysis of financial time series, with particular attention to their estimation, interpretation, and application in real-world contexts. It illustrates forecasting models and volatility models, identifying the areas of application of each and discussing the main risk measures employed in financial evaluation. The course also explores in detail multivariate modeling and the analysis of extreme values in time series, especially for the purpose of measuring financial risk. By the end of the course, students will be able to construct and apply complex models for risk measurement and forecasting, analyze different forms of uncertainty, and quantify their impact on decision-making processes. Through the use of statistical software and the analysis of case studies based on real data, students will develop practical skills in the implementation, estimation, forecasting, and validation of risk models.
They will gain methodological competence and exercise independent judgment in selecting and applying the most appropriate statistical tools for the problem under study. Students will be able to interpret and evaluate the results obtained from quantitative models and present them effectively, justifying model choices and critically discussing alternative solutions. They will develop the ability to communicate results through graphs, summaries, and statistical tests, and will consolidate their autonomy in using statistical models for time series analysis.
Finally, students will acquire the methodological and analytical skills required to independently explore new models and techniques and to pursue further quantitative studies in the analysis of financial phenomena.