Management Milano

The course develops the knowledge and skills needed to design data analyses, interpret statistical methodology, and apply the results of statistical models to real-world business applications.
At the end of the course, students will be able to:
Identify and interpret the theoretical and conceptual foundations of exploratory data analysis, data modeling for information representation, sustainable and ethical decision making in business applications (CILO 1.1 - knowledge).
Identify and interpret the theoretical and conceptual foundations to critically recognize the modern challenges related to complex modeling methods based on machine learning for business applications (CILO 1.2 - knowledge).
Systematically categorize and correctly frame real-world business challenges through data modeling, analysis and visualization (CILO 3.1 – intellectual skill).
Understand the implications and the causal chain that connects business plans, data strategies and individual behavioral patterns towards data (CILO 3.2 – intellectual skill).
Select and apply, using the R statistical software and, where appropriate, AI-assisted tools, the most suitable statistical methods to extract, analyse, and summarise information from different types of data (CILO 4.1 – practical skill).
Answer business research questions using the statistical techniques presented during the course (CILO 4.2 – practical skill).
Develop managerial decision making by recognizing, assessing and analyzing complementary or competitive decisional options to address data-driven insights and the subsequent ethical and sustainable business solutions (CILO 5.1 – transferable skill).

Module 1
The first module introduces students to statistical methods in quantitative business and marketing. The goal is to learn and apply quantitative techniques that support data-driven decisions. The module is interdisciplinary and concentrates on data analysis from a largely applied perspective. Using the R software, students will manipulate data, create visualisations, and apply statistical models to highlight the relationships between variables.
Module 1 (Data Analysis and Visualization)
Intro to the concept of data science.
Introduction to R
Review of descriptive statistics and inference
Exploratory data analysis: data visualization and manipulation
Simple and multiple linear regression
Logistic regression
Responsible use of AI in data science
Module 2
The second module introduces students to analytics, data strategy, and AI strategy in real-world business contexts. The goal is to understand how data, statistical reasoning, AI-enabled tools, and managerial decision-making can be aligned to address business challenges in an ethical, sustainable, and strategically coherent way.
The module is interdisciplinary and concentrates on the managerial, organisational, and applied implications of data-driven decision-making. Building on the quantitative mindset and analytical skills developed in Module 1, students will examine how data and AI can support business research questions, inform strategic choices, shape organisational behaviours, and generate actionable insights for different professional roles and business functions.
Using case histories, business cases, use cases, and AI-assisted tools where appropriate, students will learn to frame business problems through data, distinguish among different forms of analytics, evaluate the alignment between corporate strategy, data strategy, and AI strategy, and reflect on the ethical, cultural, and behavioural conditions required for effective data-driven transformation. The module directly supports the development of conceptual knowledge, intellectual skills, practical skills, and transferable managerial capabilities related to data modelling, analytics, AI, decision-making, ethics, and sustainability.
Module 2 (Analytics and Data Strategy)
Data Strategy, AI Strategy and Analytics
Descriptive, Diagnostic, Predictive, Prescriptive and Proactive Analytics
Narrow AI, AI, Generative AI – Gen AI Tools and their integration in personal and business workflows
Corporate Strategy, Data and AI Strategy Alignment
HR, Leadership and Communication
Ethics
Data Literacy and Data Culture
Wrap-Up
The course combines lectures, coding and data analysis (60 hours in total). Theory is followed by extensive hands-on exercises, and invited guests will present real-world business cases. A laptop is required in class so that students can try out the concepts as they are explained.

Students can choose between a “multiple assessment route” and a “single assessment route”.
Multiple assessment route
Students are evaluated through two written tests, one per module. Both tests are scheduled to the end of each module, that is, one test at the end of module 1, and the other test at the end of module 2. The module 1 test consists of a written exam with empirical exercises in both open-ended (weight: 50% of the test grade) and multiple-choice formats (weight: 50% of the test grade). The module 2 test consists of a number of multiple-choice questions (weight: equal weight for each question totalling 100% of the test grade). The final mark is computed as the simple mean of the two grades reported in written tests, rounded to the first integer. For a PASS in the multiple assessment, the following conditions must be met: (i) the two written tests are mandatory; (ii) each test must be passed individually (i.e., a minimum grade of 18 is required for each test). Students who do not pass the multiple assessment are evaluated according to the single assessment. Even though attendance is not mandatory for a PASS in the multiple assessment, it is strongly recommended.
Single assessment route
The single-assessment route consists of a summative written test made up of open and multiple-choice questions covering the whole course programme. Attendance is not mandatory for a PASS in the single assessment, but it is strongly recommended.
The student's preparation is evaluated according to the following grading scale:
Grade
Common description
Multiple-choice questions
Open-ended empirical exercises
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Near-perfect accuracy across the full breadth of the syllabus, including the most challenging items. Full command of statistical concepts, methods and terminology.
Fully correct description and application of statistical tools. Output is interpreted with rigour, with original and critical arguments that connect statistical evidence to business and ethical implications.
27-29
Very good quality showing that learning outcomes are surpassed.
Very high accuracy across the syllabus, with only minor errors on challenging items. Clear command of statistical concepts and terminology.
Correct description and application of statistical tools, with minor imperfections. Output is interpreted clearly and accurately, with some original and critical arguments linking results to business implications.
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed.
Good accuracy on standard items, with some errors on more challenging questions. Adequate command of statistical concepts.
Generally correct description and application of statistical methods, with some inaccuracies. Output is interpreted in a complete and coherent way, with limited originality and critical reasoning.
21-23
Basic quality with clear evidence that learning outcomes are achieved.
Acceptable accuracy on standard items, with several errors. Basic command of statistical concepts with some inadequacies.
Basic description and application of statistical methods, with notable inadequacies in code interpretation or methodological understanding. Interpretation of output is present but limited, without original or critical arguments.
18-20
Sufficient quality showing that learning outcomes are being achieved.
Sufficient accuracy on basic items only; difficulty with more challenging questions. Partial knowledge of statistical concepts.
Partial and imperfect description and application of statistical methods. Interpretation of output is framed but limited; business and ethical implications are barely addressed.
0-17
Unsatisfactory quality showing that learning outcomes are not achieved.
Absent or poor accuracy across the syllabus. Absent or wrong knowledge of statistical concepts.
Absent or wrong description and application of statistical methods. Interpretation of output is absent or incorrect; no connection to business or ethical implications.
If evidence emerges suggesting the use of AI tools in the written examination, the student may be required to take an additional oral examination to assess their actual knowledge and understanding of the subject.

Required readings
Cetinkaya-Rundel, M., and J. Hardin. Introduction to Modern Statistics (2e). Freely available at https://openintro-ims.netlify.app. (Multiple assessment: Selected Chapters; Single assessment: Selected Chapters).
James, G., D. Witten, T. Hastie, and R. Tibshirani. An Introduction to Statistical Learning with Applications in R. Freely available at https://www.statlearning.com. (Multiple assessment: Selected Chapters; Single assessment: Selected Chapters).
Additional readings
Additional readings are detailed in the teaching materials published in Blackboard.

The course aims to provide students with an understanding of advanced theoretical and conceptual foundations in corporate finance and their application to real-world financial problems. The first part of the course concerns financial derivatives and their pricing fundamentals, with an emphasis on options and their use in risk management, hedging, and arbitrage strategies. The second part of the course covers the application of option pricing to firm valuation and capital structure decisions and provides an overview of the main market frictions faced by firms when raising capital.
By the end of this course students will be able to:
identify the main determinants of derivatives prices and interpret how each factor influences derivative valuation within established pricing models (CILO 1.1. -knowledge);
identify and interpret the theoretical and conceptual foundation for planning the use of derivatives in the hedging policy of the firm (CILO 1.2 - knowledge);
learn the use of financial options in real-world corporate finance problems, including capital structure valuation and incentive-aligned contract design (CILO 1.3 - knowledge);
understand how asymmetric information and agency conflicts shape corporate financing decisions, and how derivative instruments can mitigate or exacerbate these frictions (CILO 3.1 – intellectual skill);
apply option pricing models to corporate valuation considerations including the effect of bankruptcy costs on firm value (CILO 4.1 - practical skill);
apply theoretical frameworks to analyze financing decisions under uncertainty, incorporating firm-specific agency and information asymmetry issues (CILO 4.2 practical skill);
develop critical decision-making skills by evaluating complex corporate finance problems, proposing structured solutions involving derivatives, and assessing the trade-offs in financing decisions (CILO 5.1 - transferable skill).

Module 1 – Derivatives contracts
Introduction to derivatives
Forwards and futures contracts
Pricing fundamentals
Hedging strategies and arbitrage opportunities
Introduction to swaps
Options
Introduction to options
Put-call parity
Boundary conditions
Binomial valuation
Black-Scholes model
Risk-neutral probabilities
Module 2 – Capital structure
Option pricing and capital structure
Equity and debt as options
Modigliani-Miller theorem with risky debt
Bankruptcy and financial distress costs
Capital market frictions
Agency conflicts
Debt- and equity-related agency costs
Derivatives and agency costs mitigation
Information asymmetry
Pecking order theory
In the context of face-to-face lectures, student participation will be encouraged through discussion of real-life examples and the analysis and solution of quantitative problems. Students are expected to proactively contribute to class discussion and encouraged to perform self-assessment tests and exercises between lectures.

Students can choose between a multiple assesssment route and a single assessment route.
Multiple assessment route
The exam consists of two written tests structured as follows:
an interim test covering the contents of the first module, composed of multiple-choice questions (20% of the grade), quantitative exercises (60%), and a theoretical open-ended question (20%);
a completion test covering the contents of the second module, composed of multiple-choice questions (20% of the grade), quantitative exercises (60%), and a short applied commentary on recent financial news (20%).
Both parts are mandatory, and students must obtain a PASS, i.e. a minimum grade of 18/30, in each part. The final grade is calculated as the arithmetic average of the grades obtained in the two tests. Students who do not pass the multiple assessment route are evaluated according to the single assessment route.
Single assessment route
Students are evaluated by means of a written exam covering the whole course content composed of multiple choice questions (20% of the grade), quantitative exercises (40%), a theoretical open-ended question (20%), and a short applied commentary on a recent financial news (20%).
The student's preparation is evaluated according to the following grading scale:
Grade
Commmon description
Open question / Applied commentary
Multiple choice questions / Numerical exercises
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects
Full understanding of derivatives contracts and their corporate finance applications
Strong and fully rigourous use of evidence
Excellent efficacy of applied analysis, with many original and critical arguments
27-29
Very good quality showing that learning outcomes are surpassed
Good breadth and depth of knowledge of subject matter
Very good understanding of questions
Clearly developed arguments, with some original arguments and connections between knowledge objects
Very good understanding of derivatives contracts and their corporate finance applications
Very good use of evidence
Very good efficacy of applied analysis, with some original and critical arguments
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Adequate breadth of knowledge of subject matter
Quite complete understanding of questions
Clearly developed arguments, with few original arguments
Quite complete understanding of derivatives contracts and their corporate finance applications
Adequate use of evidence
Adequate efficacy of applied analysis
Originality and critical thinking are present, but limited
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter
Basic understanding of questions with some inadequacies
Developed arguments, without original arguments
Basic understanding of derivatives contracts and their corporate finance applications
Basic use of evidence with some inadequacies
Basic applied analysis with some inadequacies and without original and critical argumentations
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited
Partial understanding of derivatives contracts and their corporate finance applications
Partial use of evidence
Applied analysis is framed, but limited
Argumentation is present, but limited
0-17
Unsatisfactory quality showing that learning outcomes are not achieved
Absent or poor knowledge of subject matter
Absent understanding of questions
Argumentation is absent
Absent or poor understanding of derivatives contracts and their corporate finance applications
Absent or wrong use of evidence
Absent or wrong applied analysis
Argumentation is absent

Required readings
Berk J., DeMarzo P., Corporate Finance, Pearson, 5th edition (global edition). Buy from VP
Additional readings
A list of further mandatory readings will be indicated in Blackboard, including slides, reports, and papers.

The field of corporate strategy (CS) is becoming increasingly important in the business world. Globalization, deregulation, technological change, the evolution of the institutional contexts, the digital transformation and the emergence of new markets and industries are reshaping the CS of the firms and motivating a change in the companies’ boundaries. Drawing on these factors, the course focuses on the strategic management of multi-products, multiple locations, and multi-businesses firms.
The course answers the central questions that every strategist confronts: What are firms’ resources? How can they be developed and acquired? In which businesses should the firm compete? What are the most appropriate models for growth in different settings (i.e., mergers, acquisitions, alliances, and franchising)? How are multi-products, multi-location and multi-businesses firms managed? How do social and environmental issues impact CS? Can corporate social responsibility increase the firms’ performance?
At the end of the course, students will be able to:
be knowledgeable about the concept of corporate advantage and its sources (CILO 1.1 - Knowledge);
be knowledgeable about strategies to create value by configuring and coordinating multi-business activities in local and global contexts (CILO 1.2 - Knowledge);
be knowledgeable about different strategies to manage growth of firms’ scope that can integrate economic, environmental, and social sustainability issues (CILO 1.3 - Knowledge);
be knowledgeable about different strategies to manage growth of firms’ scope that can take advantage from digital transformation and artificial intelligence (CILO 1.4 - Knowledge);
be able to collect and use public financial and non-financial data to understand a company’s CS (CILO 3.1 - Intellectual Skill);
be able to understand existing corporate strategies and recognize their sources in local and global scenarios (CILO 4.1 - Practical Skill);
be able to make recommendations for configuration and coordination of multi-business activities (CILO 4.2 - Practical Skill);
be able to make recommendations for feasible and reliable strategies to manage growth of firms’ scope (CILO 4.3 - Practical Skill);
develop the capability to work in an international team involved in complex corporate strategy projects (CILO 6.1. - Transferable skills).

The main topics of the course are:
Introduction to CS
The evolution of the notion of time, the significant role of resources for corporate level strategy.
Analysis and evolution of businesses portfolio
Core business and diversification. Portfolio matrix. Criteria to enter new businesses and expansion modes. Diversification and financial performance.
Structure and management of multi-business firm
Role and dimension of headquarters. Control and cohesion mechanisms. Resources and competencies transfer. The internal entrepreneurship.
Embedding megatrends in CS
Sustainability, creation of shared value, digitalization, artificial intelligence, ageing, and their impact on CS.
Dynamic of CS
The rationales of firms’ crisis. Fix the existing problems and manage the change.
Teaching methods will stimulate students’ participation and active interactions between students, lecturers, and guest speakers. Case histories, business cases and examples on the field will be frequently discussed. Precondition to achieve active participation is that students prepare in advance all materials required for the weekly lectures. Additional information is available on blackboard.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
A real multi-business firm listed in the stock exchange will join the course as a course-partner firm (the name of the company will be communicated on blackboard). As a mandatory part of the formative assessment students must manage a group project to apply contents and tools of corporate strategy on the course-partner firm.
Thtough action learning, each group will work as a strategic department in charge of assess the existing CS and developing a strategic operation (for instance: acquisition of real existing firm; strategic projects to be internally developed; joint ventures with an existing firm, strategic partnership, etc.) to be implemented by the course-partner firm. Consequently, students must manage two assignments: the development of a report on analysis of CS of the course-partner firm; a development of a proposal for a potential strategic operation that will be presented to professor and course-partner firm’s top management.
In this case the multiple assessment will be computed on two combined assessment elements: (i) a proposal of a strategic operation developed for the course partner firm that will be presented to professor and managers of the course-partner firm (weight: 50% of final grade); (ii) an individual written exam to be held during first official exam session (three open theoretical questions) (weight: 50% of final grade). Each assessment will receive a mark on a 30-points scale. Finally, students receive a mark that will be the weighted average of the grades they got in the three assessments.
For a PASS in the multiple assessment route, the following conditions must be met: (i) the assessment elements are mandatory; (ii) the grade received in each assessment element must be greater than or equal to 18 (i.e., the final mark may include only one interim grade less than 18). Students who do not pass the multiple assessment route are evaluated according to the single assessment route. Even though attendance is not mandatory for a PASS in the multiple assessment route, it is strongly recommended.
Single assessment route
The single assessment route will be based on a comprehensive individual written exam (six open questions) to be held in an official exam session. Three questions will be aimed at assessing the student’s knowledge and intellectual and practical skills with other three questions based on discussion of specific cases or strategic situations. Each answer will receive a mark on a 30-points scale and the average of the grades of the answers will provide the final grade of the individual written exam. Even though attendance is not mandatory for a pass in the single assessment route, it is strongly recommended.
The student's preparation is evaluated according to grading scales which are published in Blackboard. In this context, effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product).

Required readings for students who selected a multiple assessment route
Pedrini, M., Minciullo, M., & Molteni, M. M. (2023). The Corporate Strategy Hourglass. Multi-stakeholder and multi-business value creation, McGraw Hill, ISBN: 978-883861865. Buy from VP
Required readings for students who selected a single assessment route
Pedrini, M., Minciullo, M., & Molteni, M. M. (2023). The Corporate Strategy Hourglass. Multi-stakeholder and multi-business value creation, McGraw Hill, ISBN: 978-883861865. Buy from VP

This course explores marketing strategies in the contemporary business context. It examines companies’ marketing towards business customers (module 1) as well as marketing towards final consumers (module 2). Customer based marketing strategy hinges on creating value for customers and encompasses market segmentation, positioning, pricing, communication, physical distribution, customer service and sales management. The task of marketing and related activities is examined both in value chains of interconnected customer supplier relationships in business networks and in relation between businesses and the final consumers. The aims of this course reflect the focus of the program on global dimension and the societal and environmental responsibility of business. Because many markets are of global nature, the challenges and opportunities associated with having customers and suppliers from other cultures, countries and continents are highlighted. Since marketing tasks as a rule involve ethical and environmental considerations, this module emphasizes managers’ responsibility when dealing with ethical and environmental issues. Furthermore, the course aims to highlight how marketing practices are influenced by digitalization.
At the end of the course, students will be able to:
identify and interpret multidisciplinary theoretical and conceptual foundations for the development of effective marketing strategies, including digital marketing tools, directed to customers in business and consumer markets (CILO 1.1 - knowledge);
understand how ethical, environmental and social responsibility issues affect marketing management and marketing strategy development (CILO 1.2 - knowledge).
Understand how digitalization affects marketing management and marketing strategy development (CILO 1.3 - knowledge).
develop theories and conceptual frameworks to design organizational solutions and managerial systems in support of customer-based marketing strategies in multicultural global and local contexts (CILO 2.1 - knowledge);
analyse, interpret and discuss academic and empirical data and information and transform it into actionable knowledge for customer-based marketing strategy development (CILO 3.1 - intellectual skill);
apply proven theoretical and conceptual knowledge of business issues to design, use and review marketing processes, including digital marketing tools, in multicultural global and local contexts (CILO 4.1 - practical skill);
develop critical decision making by recognising, assessing, and analysing complex environments and developing sustainable solutions to marketing-related problems (CILO 5.1 - transferable skill).
Contribute proactively to a team-level decision making process in a multicultural environment. (CILO 6.1 – Transferable skill).

Module 1
This module outlines the core concepts of customer-based marketing strategies in B2B markets, with an emphasis on ethical and sustainability issues. Upon completion of the course students should be able to: 1) understand the distinctive features of B2B markets and how businesses and organizations buy in an increasingly responsible, networked, local and global, and digitalized economy; 2) become familiar with fundamental concepts in marketing to business customers, including how it is impacted by the digitalization (e.g. with a focus on understanding the content and dynamics of customer supplier relationships); 3) outline solutions regarding the marketing mix underpinning effective value creation strategies in B2B corporate contexts.
Module 2
This module examines the formulation and implementation of marketing strategy in business-to-consumer (B2C) markets, with an emphasis on ethical and sustainability issues regarding the discussed topics. Upon the completion of the course and this module, the students should be able to: 1) Understand consumer behavior and major trends in an increasingly responsible, networked, local and global, and digitalized economy; 2) become familiar with fundamental concepts of digital marketing to consumers (e.g. social media marketing, mobile marketing, consumer-generated marketing, etc.); 3) Outline and motivate marketing strategies that create value for the consumer, the company and the society (societal marketing).
Teaching approaches in this course aim at stimulating students’ participation and active interactions between students, instructors and guest speakers. The principal method of instruction is lectures with (non-graded) group assignments, based on business cases and examples from the field to advance students’ understanding of customer-based marketing strategies. Students are expected to prepare in advance all materials required for the weekly classes to benefit from an active participation and enhance action learning.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
Students are evaluated through two individual written tests. Each test includes theoretical and applied questions and weights 50% of the final grade. The first test is scheduled at the end of module 1, and the second at the end of module 2. For each module students will receive a mark (to one decimal place) and the final grade is rounded up to the first interger (simple mean of the two marks reported in each module). It needs to receive a pass both in the first and in the second test. For the multiple assessment route attendance (not less than 75% of class sessions) is mandatory both in the first and second module.
Single assessment route
Students who do not do or pass the multiple assessment route are evaluated according to a single assessment route. The single assessment route will consist of a written test, consisting of theoretical and applied questions on both the content of module 1 and module 2.
The student's preparation is evaluated according to the following grading scale:
Grade
Common description
Open questions
Short business cases
30 - 30
cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects
Full understanding of multi-cultural business contexts Strong and fully rigorous use of evidence
Excellent efficacy of applied analysis, with many original and critical arguments
27-29
Very good quality showing that learning outcomes are surpassed
Good breadth and depth of knowledge of subject matter
Very good understanding of questions Clearly developed arguments, with some original arguments and connections between
knowledge objects
Very good understanding of multi-cultural business contexts
Very good use of evidence
Very good efficacy of applied analysis, with some original and critical arguments
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Adequate breadth of knowledge of subject matter
Quite complete understanding of questions Clearly developed arguments, with few original arguments
Quite complete understanding of multi-cultural business contexts
Adequate use of evidence
Adequate efficacy of applied analysis Originality and critical thinking are present, but limited
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter Basic understanding of questions with some inadequacies
Developed arguments, without original arguments
Basic understanding of multi-cultural business contexts
Basic use of evidence with some inadequacies Basic applied analysis with some inadequacies and without original and critical argumentations
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions Argumentation is present, but limited
Partial understanding of multi-cultural business contexts
Partial use of evidence
Applied analysis is framed, but limited Argumentation is present, but limited
0-17
Unsatisfactory quality showing that learning outcomes are not achieved
Absent or poor knowledge of subject matter Absent understanding of questions Argumentation is absent
Absent or poor understanding of multi-cultural business contexts
Absent or wrong use of evidence Absent or wrong applied analysis
Argumentation is absent

Required readings
Brennan, R., -L. Canning, L., R. McGrath, H. (2024). Business-to-Business Marketing. (6th ed). Sage.
Hooley, G, Nicoulaud, B., Rudd, J.M., Lee, N. (2024). Marketing Strategy and Competitive Positioning. (8th ed). Pearson Education.
A list of mandatory readings will be indicated in Blackboard. Further slides, reports, essays and companys’ presentations, uploaded on Blackboard are also required readings.

The objectives of the course are: (i) to provide students with advanced tools of financial accounting, based on IAS/IFRS, to allow them to understand some complex issues related to the preparation of individual and consolidated financial statements; (ii) to provide techniques of financial statement analysis, focused on the dynamic interactions among the key amounts included in the B/S, the I/S and the cash flow statement.
At the end of the course, students will:
be knowledgeable about the international accounting context, in particular as far as IAS/IFRS are concerned, their purpose, concepts, standards, regulations and advanced techniques of financial accounting measurement and disclosure (CILO 1.1 - knowledge);
be knowledgeable of the personal and professional responsibilities of financial statement preparers in making informed and motivated accounting policy decisions in compliance with international and national laws and regulations (CILO 1.2 - knowledge);
be able to recognize, analyze and apply advanced financial accounting measurement and disclosure methods to a full set of IAS/IFRS compliant financial statements, as prepared by a public company in different countries of incorporation (CILO 3.1 - intellectual skill);
be able to take informed decisions about the accounting policies to be critically applied to specific contexts and to appreciate their effect on the economic and financial results of a public company, in compliance with the existing laws and regulations (CILO 5.1 - transferable skill).

Module 1: Introduction to the International Context of Financial Accounting
IFRS: Conceptual Framework; IAS 1 – The Structure of Financial Statements
The Transition to IFRS 18 – Presentation and Disclosure in Financial Statements
1.3 Introduction to International Accounting and its Regulatory Context
Module 2: Tangible and Intangible Assets: Recognition, Measurement, Disclosure
2.1 IAS 16 and 38: Tangible and Intangible Assets
2.2 Financial Leases (IFRS 16)
2.3 The Impairment Test (IAS 36)
2.4 Non-Current Assets Held for Sale and Discontinued Operations (IFRS 5)
2.5 Ethical and professional responsibility implications
Module 3: Inventory and Long-Term Contracts
3.1 Accounting for Inventories (IAS 2)
3.2 Revenue from Contracts with Customers (IFRS 15)
3.3. Ethical and professional responsibility implications
Module 4: Liabilities
4.1 Accounting for Provisions (IAS 37)
4.2 Accounting for Employee Benefits (IAS 19)
4.3 Accounting for Income Tax (IAS 12)
4.4. Ethical and professional responsibility implications
Module 5: Financial Instruments
5.1 Introduction to Financial Instruments (IFRS 9)
5.2 Ethical and professional responsibility implications
Module 6: The Cash Flow Statement
6.1 The Cash Flow Statement (Indirect Method as per IFRS 18)
6.2 The Cash Flow Statement (Direct Method)
6.3 IAS 7 as amended by IFRS 18: Core Concepts and Disclosure Requirements
Module 7: Company Groups and Business Combinations
7.1 Business Combinations: Rules and Exceptions (IFRS 3)
7.2 Company Groups and Introduction to Consolidated Accounts
7.3. Ethical and professional responsibility implications
Module 8: Financial Statement Analysis
8.1 Financial Statement Analysis: Reclassification of the B/S and the I/S
8.2 Relationships Between the B/S, the Cash Flow Statement and the I/S; Impacts on share value.
8.3 Ratio analysis, Du Pont formula, valuation models, and operating cycle.
8.4 Ethical and professional responsibility implications.
Lectures and exercise sessions. Technical experts may be invited as guest speakers, to illustrate from a technical point of view some real cases taken from their personal experience as certified public accountants, statutory auditors, CFOs. Exercise sessions, instead, will be offered by the instructor and will consist in practicing the techniques thoroughly explained in the previous theoretical sessions, by using quantitative and qualitative examples taken from academic texts and professional license examinations.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
Students are evaluated by two written exams. The first interim exam, dealing with topics in Modules 1-4, is taken at the end of Module 4. The second exam, dealing with topics in Modules 5-8, is taken at the end of Module 8. Each written exam includes 3 or 4 essay questions (48%) and 3 or 4 exercises (52%). The essay questions aim at assessing the knowledge of the students regarding the topics included in the course content section. The exercises aim at assessing the intended skills of the students in applying the specific technical methods to generic and more specific cases. Students must achieve a pass (i.e. a minimum of 18 over 30 points) in each written exam. The final grade for the course will be the average of the two exams combined (each one will have a weight of 50%). The specific modalities will also be communicated at the beginning of the course and made available on Blackboard.
Single assessment route
Grading will be based on a written exam, dealing with topics in Modules 1-8, and including 3 or 4 essay questions (48%) and 3 or 4 exercises (52%). The essay questions aim at assessing the knowledge of the students regarding the topics included in the course content section. The exercises aim at assessing the intended skills of the students in applying the specific technical methods to generic and more specific cases. Students must achieve a pass (i.e. a minimum of 18 over 30 points) in the written exam. No mid-term examination will be offered. The specific modalities will also be communicated at the beginning of the course and made available on Blackboard.
The student's preparation is evaluated according to grading scales which are published in Blackboard.

Required readings
A. Melville, International Financial Reporting. A Practical Guide, Pearson, 2025, 9th edition, (ISBN: 978-1292-75166-5).
Additional material provided by the instructor to supplement specific CILO items not covered in the textbook.

The objective of the course is to provide students with a comprehensive knowledge about the fundamental Human Resource Management activities and processes. Students are expected to learn the basic principles and models behind the actions of HR professionals and their interaction with line managers, as well as the basic knowledge about the Employee Lifecycle: recruitment and selection, performance appraisal, training and development, career management, and compensation and benefits.
At the end of the course, students will be able to:
identify and interpret the theoretical and conceptual foundations of HRM practices (i.e. recruitment and selection, performance appraisal, training and development, career management, and compensation and benefits) as well as their interdependences and ethical implications in local and global contexts (CILO 1.1 - knowledge);
understand the importance of e-HRM practices to effectively execute the company strategy in the digital era (CILO 1.2 - knowledge);
analyse and interpret academic and empirical data and information and transform them into relevant and actionable knowledge on how HRM and e-HRM practices can support the achievement of the organizational strategic priorities (CILO 3.1 - intellectual skill);
convert theoretical assumptions and business cases into reflections on their social implications, across local and global contexts, employing and reflecting on the use of AI (CILO 4.1 - practical skill)
analyze, interpret, and evaluate HR critical issues and new trends in complex and changing environments and propose sustainable solutions to them (CILO 5.1 - transferable skills);
be aware of the critical issues of a multicultural context (e.g. culture, gender, race, relationship style, time management) and be able to manage them, conducting an effective teamwork (CILO 6.1 - transferable skills).

Module 1
The HRM function and practices in local and global contexts (employee lifecycle, recruitment & selection, competency models, performance management and appraisal, career management, compensation plans and total reward, HR new trends), with a focus on international careers and cross-cultural issues and their ethical implications.
Module 2
History, definitions, main trends and key directions (big data, analytics, gamification, social media) in e-HRM and a strategic management approach to technology-enabled HRM, with a focus on the implementation of e-HRM and their effectiveness.
The teaching methods is based on an interactive approach that involves students, lecturers and guest speakers. Cases studies and examples on the field will be frequently discussed. Students will be also ask to work in teams for developing group projects. Students can directly be involved in practical discussion with guest-speaking about labour trends, Company’s case history, best practices.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
Students are evaluated through: a final written exam, including open questions about contents and case histories (60% of the final grade) and a group essay on e-HRM (40% of the final grade). The written exam will be based on the required readings as well as on the arguments covered in class, including business cases, examples, and invited speeches. For a PASS in the multiple assessment route, the final written exam and the group essay are mandatory and must be a PASS. The grades received in the team assignment and in the group practical essay will be valid until July of each solar year; after this date, these grades will expire and students will be evaluated according to the single assessment route. Students who do not pass the multiple assessment route are evaluated as well according to the single assessment route. Even though attendance is not mandatory for a PASS in the multiple assessment route, it is strongly recommended.
Single assessment route
Students are evaluated through a final written exam, including open questions. The exam will be based on the required readings as well as on the arguments covered in class, including business cases, examples, and invited speeches. Even though attendance is not mandatory for a PASS in the single assessment route, it is strongly recommended.
The student's preparation is evaluated according to the following grading scale, together with the information shared on Blackboard.
Grade
Commmon description
Oral questions
Group assigment / Individual paper
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects.
Full understanding of multi-cultural business contexts.
Strong and fully rigourous use of evidence.
Excellent efficacy of applied analysis, with many original and critical arguments.
27-29
Very good quality showing that learning outcomes are surpassed.
Good breadth and depth of knowledge of subject matter.
Very good understanding of questions.
Clearly developed arguments, with some original arguments and connections between knowledge objects.
Very good understanding of multi-cultural business contexts.
Very good use of evidence.
Very good efficacy of applied analysis, with some original and critical arguments.
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed.
Adequate breadth of knowledge of subject matter.
Quite complete understanding of questions.
Clearly developed arguments, with few original arguments.
Quite complete understanding of multi-cultural business contexts.
Adequate use of evidence.
Adequate efficacy of applied analysis.
Originality and critical thinking are present, but limited.
21-23
Basic quality with clear evidence that learning outcomes are achieved.
Basic breadth of knowledge of subject matter.
Basic understanding of questions with some inadequacies.
Developed arguments, without original arguments.
Basic understanding of multi-cultural business contexts.
Basic use of evidence with some inadequacies.
Basic applied analysis with some inadequacies and without original and critical argumentations.
18-20
Sufficient quality showing that learning outcomes are being achieved.
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited.
Partial understanding of multi-cultural business contexts
Partial use of evidence
Applied analysis is framed, but limited
Argumentation is present, but limited.
0-17
Unsatisfactory quality showing that learning outcomes are not achieved.
Absent or poor knowledge of subject matter.
Absent understanding of questions
Argumentation is absent.
Absent or poor understanding of multi-cultural business contexts.
Absent or wrong use of evidence.
Absent or wrong applied analysis
Argumentation is absent.

Required readings
G. Dessler, Fundamentals of Human Resources Management (Global Edition), 5th ed., Pearson, 2019 (pp. 621; ISBN: 978-1-292-26190-4).
Slides, notes and cases provided by the instructors and available in Blackboard.

The course addresses the behavioral dimension of the use of management control systems. Students are expected to learn: a) how management control systems drive behaviors and decision making in complex organizations; b) how digital technologies (big data, data visualization tools) foster strategic alignment in multi-cultural organizational settings.
At the end of the course, students will be able to:
identify and interpret the theoretical and conceptual foundation regarding the behavioral dimension of management control systems (CILO 1.1 - knowledge);
comprehend how management control systems leverage digital technologies to serve their functions (CILO 1.2 - knowledge);
understand how management control systems incorporate economic, environmental and social sustainability issues (CILO 1.3 - knowledge);
analyze, interpret, and evaluate financial information and transform them into relevant and actionable knowledge to support performance measurement and management (CILO 3.1 - intellectual skill);
apply their theoretical and conceptual knowledge of business issues and digital technologies to the design and use of management control systems in various organizational settings (CILO 4.1 - practical skill);
critically recognize, assess, and review how management control systems drive managerial behaviors and sustainable decision making in complex organizations (CILO 5.1 - transferable skill);
operate effectively within multi-cultural teams, leveraging digital technologies to support a data-driven decision making (CILO 6.1 - transferable skill).

Module 1
Organizational control processes and management control systems. Action controls. Personnel and cultural controls. Result controls. Management by objectives and responsibility centers. Profit and investment centers.
Big data and data visualization tools: performance insights from customer data.
Module 2
Transfer pricing methods and policies. Performance goals: selecting measures and setting targets. Aligning incentives to performance goals.
Big data and data visualization tools: performance insights from cost data, driving performance in start-up companies.
Teaching methods will stimulate students’ participation and active interactions between students, lecturers and guest speakers to foster action learning. Case histories, business cases and examples on the field will be frequently discussed. Precondition to achieve active participation is that students prepare in advance all materials required for the weekly lectures.

Students can choose between a “multiple assessment route” and a “single assessment route”.
Multiple assessment route
Students are evaluated through 2 individual written tests (80% of the final grade) and the results achieved in a team challenge (20% of the final grade).
Each individual written test includes 2 open questions and 1 short business case (weights: 32% for each open question and 36% for the short business case). The tests are scheduled as follows: the first test at the end of module 1 and the second one at the end of module 2.
In the team challenge, student teams are required to deliver in due time 6 written reports, addressing the issues arising in various business cases, making and effective use of data visualization tools. At the end of the challenge each team of students is awarded with a grade computed as the average of the grades achieved for the delivered reports.
The final grade is computed as the weighted average of the two grades reported in the individual written tests (40% for each test) and the grade reported in the team challenge (20%), rounded to the first integer. For a PASS in the multiple assessment route, the following conditions must be met: (i) the two written tests as well as the participation in the team challenge are mandatory; (ii) the grades received in both tests and the team challenge must be greater than or equal to 18. Students who do not pass the multiple assessment route are evaluated according to the single assessment route. Even though attendance is not mandatory for a PASS in the multiple assessment route, it is strongly recommended.
Single assessment route
The exam consists of a written test, composed by 2 open questions and 1 short business case on the whole program of the course, including case studies (weights: 32% for each open question and 36% for each short business case). Even though attendance is not mandatory for a PASS in the single assessment route, it is strongly recommended.
Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product). The student's preparation is evaluated according to the following grading scale:
Grade
Common description
Open questions
Business cases
30- 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects
Full understanding of multi-cultural business contexts
Strong and fully rigourous use of evidence
Excellent efficacy of applied analysis, with many original and critical arguments
27-29
Very good quality showing that learning outcomes are surpassed
Good breadth and depth of knowledge of subject matter
Very good understanding of questions
Clearly developed arguments, with some original arguments and connections between knowledge objects
Very good understanding of multi-cultural business contexts
Very good use of evidence
Very good efficacy of applied analysis, with some original and critical arguments
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Adequate breadth of knowledge of subject matter
Quite complete understanding of questions
Clearly developed arguments, with few original arguments
Quite complete understanding of multi-cultural business contexts
Adequate use of evidence
Adequate efficacy of applied analysis
Originality and critical thinking are present, but limited
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter
Basic understanding of questions with some inadequacies
Developed arguments, without original arguments
Basic understanding of multi-cultural business contexts
Basic use of evidence with some inadequacies
Basic applied analysis with some inadequacies and without original and critical argumentations
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited
Partial understanding of multi-cultural business contexts
Partial use of evidence
Applied analysis is framed, but limited
Argumentation is present, but limited
0-17
Unsatisfactory quality showing that learning outcomes are not achieved
Absent or poor knowledge of subject matter
Absent understanding of questions
Argumentation is absent
Absent or poor understanding of multi-cultural business contexts
Absent or wrong use of evidence
Absent or wrong applied analysis
Argumentation is absent

Required readings
S. Baraldi, Course of Managament Control Systems (part 1): teaching materials, EDUCatt, 2013.
S.J. Van Weelden – L.G. Busuttil, Student guide to the case method, Ivey Publishing, 2018
Rosanas J.M., Velilla M., The ethics of management control systems: developing technical and moral values, Journal of Business Ethics, vol. 57, pp. 83-96
Additional readings
Additional readings are detailed in the teaching materials published in Blackboard.
Recommended journals
Accounting, Auditing & Accountability Journal. Accounting Forum. Accounting, Organizations and Society. Behavioral Research in Accounting. Contemporary Accounting Research. Critical Perspectives on Accounting. European Accounting Review. Harvard Business Review. Journal of Accounting and Organizational Change. Journal of Accounting Literature. Journal of Management Accounting Research. Management Accounting Quarterly. Management Accounting Research. Management Control. Qualitative Research in Accounting & Management. The British Accounting Review.

The objectives of the course are twofold: first, providing student with the theoretical background of microeconomic and macroeconomic helpful to understand how fundamental economic perspective can support managerial decision making in local and global competitive and oligopoly markets. Second, the course introduces how basic concepts of macroeconomic policy (primarily monetary, fiscal policy and international trade) affect business decision making. Both the goals are devoted to create a general understanding of the multidimensional picture a manager faces when he/she defines and executes sustainability priorities in partnership with key stakeholders. To reach this objective, the course emphasizes the adoption of qualitative and quantitative measurement tools.
At the end of the course, students will be able to:
identify and interpret the theoretical and conceptual foundation of the micro and macro-economic factors affecting managerial decision making in local and global contexts, with an emphasis on sustainable development (CILO 1.1 -knowledge);
analyze, interpret, and discuss empirical data and information on macro and micro-economic variables belonging to private and public sectors, with an emphasis on sustainability metrics (CILO 3.1 - intellectual skill);
develop critical decision making by recognizing, assessing, and analyzing macro and micro-economic environments and developing sustainable solutions to business problems (CILO 5.1 - transferable skill).

Module 1
The microeconomic dimension of managerial economics and the importance of data to deal with complexity in a connected word (public and private dimensions, external forces, uncertainty), with a particular focus on quantitative tools to solve the complexity (marginal analysis for optimal decisions, regression techniques useful in competitive markets, game theory useful in oligopoly markets). Sustainability issues embedded in microeconomic determinants of managerial decision making, with an emphasis on the environmental and social choice variables.
Module 2
The macroeconomic dimension of managerial economics, with an emphasis forces governing driving aggregate supply, demand and growth. The module then presents key topics in monetary and fiscal policy and international economics (international trade, tariffs, exchange rates).
Teaching methods will stimulate students’ participation and active interactions between students and lecturers. Business cases and examples on the field will be frequently discussed. Moreover, in the last two lectures, students will present their assignments to the class, promoting peer learning.

The assessment criteria depends on whether students attend or not classes.
Multiple assessment
Students are evaluated through two interim written exam one for each module (50% each).. Each written exam includes 2 open questions and 1 exercise. The final mark is rounded to the first interger (weighted mean of the single marks repoted for each components). For a PASS in the multiple assessment, the following conditions must be met: (i) the written tests are mandatory; (ii) the grade of each component (written tests and group assignment) must be greater or equal to 18. Students who do not pass the multiple assessment are evaluated according to the single assessment. Even though attendance is not mandatory for a PASS in the multiple assessment, it is strongly recommended.
Single assessment route
Students are evaluated through a written exam (100%) at the end of the course. The written exam includes 4 open questions and 2 exercises.
For a PASS in the single assessment, the following conditions must be met: the grade of the written exam must be greater or equal to 18.
The student's preparation is evaluated according to grading scales which are published in Blackboard.

Required readings
Christopher Thomas and S. Charles Maurice (Ed. By), Managerial Economics, 12th edition, chapters: 2, 3, 4, 11, 12, 13, 16.
Olivier Blanchard, Macroeconomics, 8th edition, chapters: 3, 4, 5, 8, 17, 19, 22, 23, 24.
Further required readings will be communicated in Blackboard.
Slides provided during the lectures.

The aim of the course is to introduce theoretical methods, numerical techniques, and mathematical models for the analysis of dynamic problems in Finance, Economics, and Management.
On successful completion of the course, students will be able to:
Demonstrate knowledge of basic Python programming and numerical methods for simulating iterated maps and performing numerical integration (CILO 1.1 – knowledge);
Demonstrate knowledge and understanding of dynamical systems theory in both continuous and discrete time (CILO 1.2 – knowledge);
Understand theoretical and conceptual mathematical modelling of economic, financial, and management problems, with particular emphasis on the formulation and representation of dynamic systems. (CILO 1.3 – knowledge);
Implement numerical methods and perform simulations of dynamical systems using Python, while acquiring basic skills in Python programming (CILO 1.4 – knowledge);
Apply dynamical systems theory to derive analytical solutions for nonlinear economic dynamic problems and perform computational analysis (CILO 3.1 – intellectual skills);
Formulate real-world management, economic, and financial problems as formal mathematical models, using clear and rigorous mathematical language (CILO 3.2 – intellectual skills);
Apply mathematical models of complex systems to critically analyse business problems, develop feasible solutions, and evaluate alternative options (CILO 5.1 – transferable skills);
Work effectively in international and multicultural teams addressing complex managerial problems through the integration of qualitative and quantitative approaches (CILO 6.1 – transferable skills).

The course is organized in three parts.
First part: Basic Python coding and numerical tools:
Basic Python programming concepts: variables, data types, control structures (loops and conditionals), functions, and basic object-oriented programming principles.
Introduction to the scientific Python environment (Jupyter Notebook, NumPy, SciPy, Matplotlib).
Numerical computation and vectorised operations using NumPy.
Numerical integration of differential equations (e.g. Euler and Runge–Kutta methods).
Data visualisation and phase diagrams using Matplotlib.
Simulation of dynamical systems in Python, including linear and nonlinear models.
Basic implementation of stability analysis and fixed-point computation.
Second part: Continuous-time models:
Basic definitions of dynamical systems theory (fixed points, local stability, global stability).
One-dimensional systems: linear and nonlinear differential equations.
Local bifurcations: saddle-node, transcritical, and pitchfork bifurcations.
Two-dimensional systems: linear and nonlinear systems of differential equations.
Local bifurcations: Andronov–Hopf bifurcation.
N-dimensional systems: linear and nonlinear systems of differential equations.
Deterministic chaos and the butterfly effect.
Applications to industrial organization, finance, R&D, and other fields (e.g. epidemiological models and COVID-19).
Simulation of continuous-time dynamical systems using Python.
Third part: Discrete-time models:
Differences between continuous-time and discrete-time formulations of dynamical models.
One-dimensional maps: linear and nonlinear difference equations.
The logistic map and deterministic chaos in discrete time.
Local bifurcations: fold, transcritical, pitchfork, and flip bifurcations.
Two-dimensional maps: linear and nonlinear systems of difference equations.
Local bifurcations: Neimark–Sacker bifurcation.
Piecewise linear maps and border-collision bifurcations.
Applications to industrial organization, finance, and related fields.
Oligopoly and evolutionary models.
Simulation of discrete-time dynamical systems using Python.
To stimulate the active intervention of students, teacher lectures will be alternated with exercise sessions, practical sessions with a software for numerical simulations, coding of numerical techniques, and case studies to foster action learning. Instructional materials are published on the Blackboard Platform.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
Students are evaluated through an interim teamwork and a final written test. For the teamwork, students will be subdivided into groups made up by 4 or 5 students. Groups are expected to deliver a final report including the application of mathematical tools to real-case situations and present it in class. Detailed information regarding the expected output will be published in Blackboard. All the members of a group will receive the same evaluation. The written test is made of exercises (one for each part of the program). There are 2 exercises with several sub-questions. The points associated to each exercise will be clearly indicated. Moreover, to each sub-question will be clearly indicated the amount of points it permits to achieve. In the evaluation half points are admitted. The final mark is obtained by calculating the weighted average (the teamwork provides 1/3 of the final evaluation while the written test the remaining 2/3). If this mark is not an integer number, it will be approximated by excess. If the final mark is 30 without any approximation, it will be considered a 30 cum laude. Even though attendance is not mandatory for a PASS in the multiple assessment route, it is strongly recommended. A student can take the final written test of the multiple assessment tool only in the first exams’ session (i.e. two dates) following the term where the lessons are given. After that, all the students will have to take the single assessment route.
Single assessment route
Students are evaluated through a final written exam. The written test includes a part of exercises (50% of the final grade) and a part of theoretical open questions (50% of the final grade). The part of exercises is made of 2 exercises (one for each part of the program) with several sub-questions. The theoretical part is made up by two main open questions (one for each part of the program) and several sub-questions. The points associated to each exercise and to each sub-question will be clearly indicated. In the evaluation half points are admitted. The final mark is obtained by calculating the weighted average (exercises provide 1/2 of the final evaluation while the theoretical questions the remaining 1/2). If this mark is not an integer number, it will be approximated by excess. If the final mark is 30 without any approximation, it will be considered a 30 cum laude. Even though attendance is not mandatory for a PASS in the single assessment route, it is strongly recommended.
Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product). The student's preparation is evaluated according to the following grading scale (which are also published in Blackboard):
Grade
Commmon description
Written test
Teamwork
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter. Full understanding of questions.
Excellent presentation of the topics, rigorous treatment of the analysis, techniques and methods used, excellent argumentation skills and interpretation of the results.
Full understanding of the model chosen for the teamwork. Strong and fully rigorous analytical investigation of the local properties of the dynamics of the model. Strong and fully rigorous numerical investigation of the global dynamics of the model.
27-29
Very good quality showing that learning outcomes are surpassed.
Good breadth and depth of knowledge of subject matter. Very good understanding of questions. Clear illustration of the topics, precise and formal treatment of the analysis, techniques and methods used, very good argumentation skills and interpretation of the results.
Very good understanding of the model chosen for the teamwork. Very good analytical investigation of the local properties of the dynamics of the model.
Very good numerical investigation of the global dynamics of the model.
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed.
Adequate breadth of knowledge of subject matter. Quite complete understanding of questions. Adequate clarity of illustration of the topics, error-free treatment of the analysis, techniques and methods used, good argumentation skills and interpretation of the results.
Quite complete understanding of the model chosen for the teamwork. Adequate analytical investigation of the local properties of the dynamics of the model. Adequate numerical investigation of the global dynamics of the model.
21-23
Basic quality with clear evidence that learning outcomes are achieved.
Basic breadth of knowledge of subject matter. Basic understanding of questions with some inadequacies. Acceptable clarity of illustration of the topics, relatively precise treatment of the analysis, techniques and methods used, reasonable ability to argue and interpret the results.
Basic understanding of the model chosen for the teamwork. Basic analytical investigation of the local properties of the dynamics of the model. Basic numerical investigation of the global dynamics of the model.
18-20
Sufficient quality showing that learning outcomes are being achieved.
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking. Partial illustration of the topics, partial discussion of the analysis, techniques and methods used, limited ability to argue and interpret the results.
Partial understanding of the model chosen for the teamwork. Partial analytical investigation of the local properties of the dynamics of the model.
Numerical investigation of the global dynamics of the model is framed, but limited.
0-17
Unsatisfactory quality showing that learning outcomes are not achieved.
Absent or poor knowledge of subject matter.
Absent understanding of questions. The illustration of the topics is very limited or absent, the analysis, techniques and methods used are very limited or absent, and the ability to argue and interpret the results is absent.
Absent or poor understanding of the model chosen for the teamwork. Absent or wrong investigation of the local properties of the dynamics of the model.
Numerical investigation of the global dynamics of the model is absent or wrong.

Required readings
G.I. Bischi, F. Lamantia, D. Radi, Lecture Notes on Dynamical systems in Economics and Finance. 2014. Avilable on the e-learning platform Blackboard.
Exercise Sets and additional materials available on Blackboard.
M. Cassader, E. Negro, D. Radi, Python for Quantitative Finance and Business Applications, Giappichelli, 2026, ISBN 9791221120769.
Additional readings
Additional readings are detailed in the teaching materials published in Blackboard. The material on Blackboard is self-contained and covers all the topics of the course.
Recommended journals
Journal of Economic Dynamics and Control; Journal of Economic Behavior & Organization; Journal of Evolutionary Economics; Journal of Environmental Economics and Management; Environmental and Resource Economics; Annals of Operational Research; Chaos, Solitons & Fractals; Games and Economic Behavior; Computational Economics; Energy Economics.

During this course, students will learn how companies should design, manage and improve their supply chain. Namely, the main supply chain strategies will be outlined and the key processes, peculiar to supply chain management, will be discussed. Such processes as sales & operations planning, inventory management, procurement management and physical distribution will be addressed. Furthermore, students will learn how supply chain partners can interact with each other in order to remove (or at least reduce) the pathologies that a lack of cooperation can produce.
At the end of the course, students will be able to:
identify and interpret the main concepts and theories concerning supply chain management, suitable for framing problems and supporting ethical and sustainable decision making (CILO 1.1 - Knowledge);
develop theoretical frameworks on the design supply chains on the basis of the competitive strategy of the firm and on the features of the product (CILO 2.1 - Knowledge);
analyze data and information concerning the supply chains of manufacturing companies, identify improvement opportunities and suggest appropriate improvement actions (CILO 3.1 - Intellectual Skill);
revise the main supply chain processes (procurement, production, physical distribution) based on the peculiarities of the company and of its industry, and understand how to leverage new digital technologies to improve the manufacturing and logistics activities (CILO 4.1 - Practical skill);
recognize different design and management options of supply chain processes, compare such options, and critically select the most suitable one based on the analysis of their outcomes in terms of efficiency, effectiveness, and sustainability; become able to use generative AI tools to develop and compare different supply chain configurations (CILO 5.1 - Transferable skill);
operate effectively in an international team involved in the design and management of supply chain processes (CILO 6.1 - Transferable skill).

The main topics addressed during this course are:
Supply Chain Management: challenges and strategies
Supply Chain Performance: an overview of the key service and cost metrics
Demand Forecasting and Production Planning
Inventory Management Techniques
Distribution network design and management
Procurement management: sourcing strategies and vendor selection
Collaborative practices along the supply chain
Advanced automation and digital technologies in supply chain management
Sustainable Supply Chain Management
The teaching method will be highly interactive. Several case-studies and simulations will be used to boost class participation and discussion among students.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
Students will be assessed through a weighted average, as follows:
30% of the final grade will depend on action learning based on group assignments; during the course two group assignments will be carried out (15% each).
70% of the final grade will depend on the final written exam, consisting of both multiple-choice and open questions. Multiple choice questions will be on theoretical topics and will account for 8 out of 30 points of the final grade of the exam. Open questions will consist of mini-cases and exercises and will account for 22 points of the final grade of the exam.
For a PASS in the multiple assessment route, both group assignments and the final exam must reach a grade of at least 18/30.
The final written exam can be taken just once in the multiple assessment route. It can be taken in one of the two exam dates after the end of the course.
Attendance (not less than 75% of class sessions) is mandatory for a PASS in the multiple assessment route.
Single assessment route
Students will be assessed through a written exam consisting of multiple choice and open questions, referred to the entire textbook. Multiple choice questions will be theoretical and will account for 20% of the final grade. Open questions will consist of mini-cases and exercises and will account for 80% of the final grade. Attendance is not mandatory for passing the exam, but it is strongly recommended.
Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product). The student's preparation is evaluated according to the following grading scale:
Grade
Commmon description
Oral questions
Group assigment / Individual paper
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects
Full understanding of multi-cultural business contexts
Strong and fully rigourous use of evidence
Excellent efficacy of applied analysis, with many original and critical arguments
27-29
Very good quality showing that learning outcomes are surpassed
Good breadth and depth of knowledge of subject matter
Very good understanding of questions
Clearly developed arguments, with some original arguments and connections between knowledge objects
Very good understanding of multi-cultural business contexts
Very good use of evidence
Very good efficacy of applied analysis, with some original and critical arguments
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Adequate breadth of knowledge of subject matter
Quite complete understanding of questions
Clearly developed arguments, with few original arguments
Quite complete understanding of multi-cultural business contexts
Adequate use of evidence
Adequate efficacy of applied analysis
Originality and critical thinking are present, but limited
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter
Basic understanding of questions with some inadequacies
Developed arguments, without original arguments
Basic understanding of multi-cultural business contexts
Basic use of evidence with some inadequacies
Basic applied analysis with some inadequacies and without original and critical argumentations
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited
Partial understanding of multi-cultural business contexts
Partial use of evidence
Applied analysis is framed, but limited
Argumentation is present, but limited
0-17
Unsatisfactory quality showing that learning outcomes are not achieved
Absent or poor knowledge of subject matter
Absent understanding of questions
Argumentation is absent
Absent or poor understanding of multi-cultural business contexts
Absent or wrong use of evidence
Absent or wrong applied analysis
Argumentation is absent

Required readings
Grando A., Belvedere V., Secchi R., Stabilini G. (2021), Production, Operations and Supply Chain Management, Bocconi University Press. (Single Assessment Route: chapters 1, 2, 3, 4, 6, 7, 8, 9, 10, 11, 13, 14, 15, 16, 17, 18. Multiple Assessment Route: 3, 4, 6, 7, 8, 9, 10, 11, 13, 14, 15, 16, 17, 18) Buy from VP
Case-studies, exercises and slide sets uploaded on Blackboard (just for the Multiple Assessment Route)

The course aims to equip students with the tools necessary to navigate aspects of commercial law in a transnational context, developing the skills required to identify and solve common issues arising in cross-border transactions. Starting with the foundations in contract law, the course will go on to cover a broad range of topics ranging from anti-trust, intellectual property, data protection & privacy, insolvency and ESG, through to “soft law” issues such as cultural aspects of international negotiations, business ethics and contract drafting. Attention will be paid principally to EU law, contrasted with other regimes, including that of the USA, and other international conventions.
At the end of the course, students will:
Be able to identify and interpret a broad range of legal and ethical issues relevant to different international business contexts (CILO 1.1 - knowledge);
Be able to recognise and analyse data arising in cross-border commercial transactions that reflect multicultural differences, and respond to associated legal questions and problems (CILO 3.1 - intellectual skill);
Acquire appropriate technical language and legal terminology in the use of information, which will enable one to speak with confidence and clarity in relation to legal issues in business (CILO 3.2 - intellectual skill);
Be able to evaluate and balance competing arguments and issues arising in specific commercial contexts in order to take necessary decisions using critical judgment (CILO 5.1 - transferable skill).

Lessons will be dedicated to the study of commercial law in private transnational transactions. Specifically, the program will include the following topics arising in local and global business contexts:
Module 1
Contract law – Governing law and jurisdiction – International Sale of goods - Cross-border commercial contracts - Sources of Law (PIL) - Intellectual Property and Innovation – Insurance contracts – Dispute Resolution – Business Ethics and Corruption.
Module 2
Data Protection and Privacy – Harmonisation of Laws - Antitrust and Competition law - Cultural aspects of international negotiations – Cyber world – Technology contracts - Cross-border insolvency - International Arbitration - Corporate Governance and Sustainability - Contract drafting workshop.
The method of teaching will be highly interactive, encouraging active participation from, and between students, including by asking questions, providing comments, debating issues and working through practical excercises in small groups to foster action learning. Case histories, business cases and real examples will be discussed during lessons to provide context and illustrate by example. Guests speakers will be invited from time to time to provide “real life” examples of the issues studied in class.

Students can choose between a multiple assesssment route and a single assessment route.
Multiple assessment route
Students are evaluated by two written exams. The first interim exam, dealing with topics in Module 1, is taken at the end of Module 1. The second exam, dealing with topics in Module 2, is taken at the end of Module 2. Each written exam includes 10 multiple choice questions (max 10 points, i.e. 35% of the overall points), one open question (max 5 points, i.e. 15% of the overall points) and a short case study (max 15 points, i.e. 50% of the overall points). Students must achieve a pass (i.e. a mimum of 18 points) in each written exam. The final mark for the course will be the simple average grade of the two modules combined. Students who do not pass the multiple assessment route are evaluated according to the single assessment route.
Single assessment route
Students are evaluated by a combined written exam dealing with topics in both Module 1 and Module 2. The exam includes 10 multiple choice questions (max 10 points, i.e. 35% of the overall points), one open question (max 5 points, i.e. 15% of the overall points) and a short case study (max 15 points, i.e. 50% of the overall points). Students must achieve a pass (i.e. a mimum of 18 points). Students can take this exam during scheduled exam sessions during the academic year.
Assessment criteria are published in Blackboard.

Transnational Commercial Law (Texts, Cases andMaterials) 2nd ed. by Goode, Knonke and McKendrick (Oxford University Press)

The course aims to provide students with a critical glance on contemporary brand management issues to reflect on how today brands, consumers, technology and culture are subtly interwoven and rapidly co-evolving. Hence, the course engages with brand management from a contemporary cultural perspective that looks at the brand and related managerial issues in the frame of an increasingly complex global market that is affected by a fast-evolving technocultural scenario including Artificial Intelligence and synthetic media. This scenario continuously challenges the brand to innovate and redefine its role for consumers, companies, society, and institutions.
The course develops a cross-disciplinary approach that combines basic and advanced conceptual foundations with up-to-date managerial issues and challenges that the brand must confront to face reality.
At the end of the course, students will be able to:
identify and interpret multidisciplinary theoretical and conceptual foundations helpful to develop a critical understanding of the brand as a strategic cultural asset that is owned by both consumers and the company (CILO 1.1 – knowledge);
understand how the social construction, negotiation and management of brand identity and brand purpose in current digital contexts supports ethical and societal decision making (CILO 1.2 – knowledge);
develop conceptual knowledge on the design and use of brand management systems such as the brand book in global and local contexts (CILO 2.1 – knowledge);
apply theoretical and conceptual knowledge of global issues affecting brands and their relationships with consumers to the design and implementation of consumption trends analysis in multicultural global and local contexts (CILO 4.1 – practical skill);
develop critical decision making by recognizing, assessing, and analyzing complex cultural environments and developing sustainable cultural branding solutions to consumer brand engagement problems (CILO 5.1 – transferable skill);
operate effectively within an international multicultural trend-hunting team, where adopting a multicultural perspective proves particularly useful in managing consumption trend analysis and branding solutions (CILO 6.1 – transferable skill).

Module 1: Prof. Rossella Chiara Gambetti
The following topics will be covered:

• The scenario that the brand must confront
• Understanding contemporary technoculture
• Evolving consumer-brand relationships, communication modes, technologies and touch-points.
• The basic of brand and brand management
• The concept of brand today.
• Brand identity, consumer insight and brand positioning.
• Exploring the brand book: brand philosophy and values, brand strategy, brand language and signs.
• Capturing consumption trends for brand management
• Defining and understanding a trend.
• Innovators, trendsetters, lead users.
• Identifying and analyzing a consumption trend from the branding standpoint.
• Brand management in the firm
• Characteristics and role of the brand manager (responsibilities, tasks and relationship management with communication agencies and research institutions).
• Managing the brand on a daily basis.
• The new challenges of consumer-brand relationships
• Bonding with consumers (cultural branding to engage consumer collectives: real time marketing, the use of AI in branding, branding in the metaverse; brand activism).
• Consumers as brands: the rise of social media influencers and principles of influencer marketing.
  Module 2: Prof. Sharifah Alwi
  The following main topics will be covered:
• Refresher session: Consumer behavior, segmentation, brand positioning process & brand equity
  Apply consumer behaviour, segmentation, and brand positioning concepts in regional contexts, focusing on South Asia, Southeast Asia, and the GCC.
  Interpret consumer insights and cultural differences to inform brand messaging and segmentation strategies.
  Use POP and POD frameworks to evaluate and refine brand positioning across diverse markets.
  Relate brand values to positioning and assess how brand equity varies across different regional contexts
• Luxury Brands and Luxury Brand Management
  Understand the role of creativity and creative direction in luxury branding, and how storytelling and cultural relevance drive differentiation.
  Explore the material, symbolic, and experiential dimensions of luxury, including the rise of immersive and digital brand experiences.
  Identify key luxury sectors and examine the luxury marketing mix, including craftsmanship, scarcity, controlled distribution, storytelling, and experience-led branding.
  Understand the impact of digital transformation, including social commerce, AI personalisation, and omnichannel luxury retail.
  Recognise the importance of sustainability and ESG, including circular luxury models and changing consumer expectations.
  Analyse major luxury markets & compare global luxury consumption patterns across Europe, Asia, and the Middle East, focusing on cultural differences in luxury behaviour.
• Beyond Product/Service Branding: Introducing Corporate Brand and Corporate Brand Management
  Develop a contemporary understanding of how organisations can differentiate themselves through strong corporate brands beyond traditional product and service branding.
  Examine diverse approaches to corporate brand positioning, ranging from extending marketing logic to embracing corporate citizenship, sustainability, ethical branding, and societal value creation.
  Explore how corporate branding contributes to long-term corporate brand equity, sustainable business performance, stakeholder trust, and organisational resilience in dynamic market environments.
  Critically evaluate corporate branding challenges in the context of digital transformation, sustainability, stakeholder complexity, and the growing influence of AI and data-driven brand management.
  Illustrate how corporate branding can be strategically applied across products, services, digital platforms, SMEs, multinational corporations, and purpose-driven organisations.
  The course will be based on critical interactive lessons, group case study discussions, discussion of digital and video materials, a group assignment sharpening analytical skills and a group project work facing a real company issue. A few brand management experts will be invited as guest speakers to provide their points of view on the role of the brand manager in the firm and on the contemporary brand challenges he/she needs to face.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route (requiring attendance)
The assessment will consist of four components including analytical assignment, case study discussion, business project work, and written test that each student is required to take either in a group (groups of students will be purposively multicultural in their composition) or on an individual basis as follows:

• a group assignment aimed at analyzing and designing a current consumption trend from the standpoint of branding (15% of the final grade);
• a group analysis and discussion of a branding business case (15% of the final grade);
• a group project work facing a real brand challenge provided by a partner company, with an empashis on consumer brand engagement, strategy, and tactics (20% of the final grade) to foster action learning;
• a final individual written test composed of both two open-ended questions relevant to the theoretical and conceptual foundations faced in the course (40% of the final grade), and an individual critical reflection on the key learnings drawn from the group project work including assessment of criticalities, barriers, unexplored opportunities and avenues for improvement (10% of the final grade).
  For a PASS in the multiple assessment, the following conditions must be met: (i) the four components are mandatory and each of them needs to be passed with a grade that is greater or equal to 18; (ii) the final grade is the result of the weighted average of the four components.
  Students who do not pass the multiple assessment are evaluated according to the single assessment. The partecipation to group activities requires attendance.
  Single assessment route
  The exam consists of two components:
• a written test based on three open-ended questions relevant to all the course materials uploaded in Blackboard and the required readings (60% of the final grade);
• an individual assignment aimed at analyzing and designing a current consumption trend from the standpoint of branding, and formulating a brand strategy and related guidelines for the brand to take advantage of the trend (40% of the final grade).
  Attendance is not mandatory for a PASS in the single assessment route.
  Using AI in Your Group or Individual Assignments (Guidance)
  Ethics and transparency are essential: students must declare all AI tools used and ensure outputs are edited, interpreted, and developed into original work. Consider the following points when preparaing assignmemt:
  Use AI to support (not replace) critical thinking in brand strategy, insights, and recommendations.
  Use AI tools (ChatGPT/Claude, LM Arena, Tableau) to generate and refine ideas, compare outputs, and analyse/visualise data for segmentation, positioning, and market insights.
  Cross-check AI outputs with academic sources, industry reports, and real brand case studies to ensure accuracy.
  Evaluate AI suggestions for cultural and market relevance, particularly in South Asia, Southeast Asia, and GCC contexts.
  Use AI responsibly by adapting and critically transforming outputs, do not copy directly.
  In this context, effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product).

Required readings
J.N. Kapferer, The new strategic brand management: creating and sustaining brand equity long term, Kogan Page, London, 2008, Fourth Edition (Chapter 7).
T. Heding, C.F. Knudtzen, M. Bjerre, Brand management. Mastering reaserch, theory and practice, Routledge, London, 2020, Third Edition (Chapters 8, 9 and 10). Acquista da VP
R.V. Kozinets, U. Gretzel, R. Gambetti, Influencers and creators. Business, culture and practice, Sage, London, 2023 (Chapters 1, 4, 10 and 13) Acquista da VP
Additional course materials (e.g. lesson slide decks, academic journal articles, book chapters, conference papers, research reports) that constitute required readings will be provided by Prof. Gambetti and Prof. Alwi throughout their modules and will be uploaded on the Blackboard platform.

The course aims to provide students with a thorough (and practical) understanding of how Consulting companies are organized and managed in the frame of the digital transformation. Within the business lab, students actively explore the main features of Consulting companies and are helped to look inside their managerial processes. Rather than focusing on the specific issues covered in detail in other courses, this introductory course enables students to gain a comprehensive view of the key challenges of managing Consulting companies, leading them to explore the main managerial issues afforded by Consulting companies within the frame of a structured overview.
At the end of the course, students will be able to:
identify and understand multidisciplinary theoretical and conceptual basis, including digitalization, helpful to understand the main business features and the processes of consulting companies, their differences from the typical enterprises, and to support ethical and sustainable solutions in consulting companies (CILO 1.1 - knowledge);
develop solid background of the key knowledge areas on the design and development of the key managerial processes of consulting companies, with a specific focus on digital processes (CILO 2.1 - knowledge);
make judgements on what means dealing with the consulting world, transforming that awareness into relevant and actionable knowledge in consulting companies (CILO 3.1 - intellectual skill);
apply solid theoretical and structured knowledge of consulting companies to the design and application of their main processes, including digitalization (CILO 4.1 - practical skill);
develop critical decision making and developing sustainable solutions in consulting companies (CILO 5.1 - transferable skill);
operate effectively within a multicultural team in consulting companies (CILO 6.1 - transferable skill).
The course aims to introduce students with a thorough (and practical) understanding of how life science sector is structured and organized.
A particular focus will be dedicated to technology and healthcare delivery organizations.
Within the business lab, students explore the main features of the healtycare sector and follow an experiential learning process about the managerial processes. This course allows students to explore the main managerial issues and challenges faced by institutions (private and public) operating in the life science sector.
At the end of the course, students will be able to:
identify and interpret multidisciplinary theoretical and conceptual foundations helpful to understand business and managerial problems and to support ethical and sustainable solutions (CILO 1.1 - knowledge);
develop theoretical and conceptual knowledge on the design and use of managerial systems (CILO 2.1 - knowledge);
use academic and empirical data and information and transform them into relevant and actionable knowledge (CILO 3.1 - intellectual skill);
apply proven theoretical and conceptual knowledge to the design and use of managerial systems (CILO 4.1 - practical skill);
develop critical decision making to drive efficiency, effectiveness, and equity in the healthcare sector (CILO 5.1 - transferable skill);
operate effectively within a multiprofessional and multicultural team (CILO 6.1 - transferable skill).
The course aims to introduce students to the luxury and fashion industry and its managerial main issues, with a concrete approach to the peculiar logic and strategies of luxury and fashion companies. Within the business lab students explore the main features of fashion and luxury companies and are trained to approach their managerial processes gaining a comprehensive view of the key challenges the fashion and luxury companies are facing today
At the end of the course, students will be able to:
identify and interpret multidisciplinary theoretical and conceptual foundations helpful to understand business and managerial problems and to support ethical and sustainable solutions in fashion and luxury firms (CILO 1.1 - knowledge);
develop theoretical and conceptual knowledge on the design and use of managerial systems in fashion and luxury firms (CILO 2.1 - knowledge);
use academic and empirical data and information and transform them into relevant and actionable knowledge in fashion and luxury firms (CILO 3.1 - intellectual skill);
apply proven theoretical and conceptual knowledge of fashion and luxury firms to the design and use of their managerial systems (CILO 4.1 - practical skill);
apply critical thinking skills to find viable solutions for the ethical, organizational and cultural issues that are typically connected to the fashion and luxury environment (CILO 5.1 - transferable skill);
operate effectively within a multicultural team in fashion and luxury firms (CILO 6.1 - transferable skill).
The course aims to provide students with a thorough (and practical) understanding of how multinational enterprises (MNEs) are organized and managed. Managing “across borders” needs to cope with the various issues of operating in a global environment, including cultural, economic, operational, ethical and legal aspects. Students explore the main features of MNEs and are trained to take an active part in their managerial processes, thus gaining a comprehensive and practical view of the key challenges of managing global companies.
At the end of the course, students will be able to:
identify and interpret multidisciplinary theoretical and conceptual foundations helpful to understand the main features of MNEs and their international operations as well as the differences in managing domestic and international businesses (CILO 1.1 - knowledge);
develop theoretical and conceptual knowledge on the design and use of managerial systems in MNEs (CILO 2.1 - knowledge);
use academic and empirical data and information to effectively drive decision making in MNEs (CILO 3.1 - intellectual skill);
apply proven theoretical and conceptual knowledge of global businesses to design, use, and review managerial systems in multicultural global contexts (CILO 4.1 - practical skill);
apply critical thinking skills to find viable solutions for the ethical, organizational and cultural issues that typically arise in international operations (CILO 5.1 - transferable skill);
operate effectively within a multicultural team in MNEs (CILO 6.1 - transferable skill).

Topics covered by the course include the following:
history and peculiarity of the main consulting companies;
strategic approaches for starting up and developing consulting business;
impact of digitalization on the consulting companies’ strategic approach;
approach to the selling and marketing processes;
internal knowledge management systems as a key tool for the business;
governance and rewarding as the backbone of consulting management;
HR management in consulting companies;
planning and control systems and processes in consulting companies.
The course is taught combining lectures, in-class discussions and case analysis, site visits, and independent study of a textbook as well as of other chosen material. A close interaction with a group of leading companies enables attending students to gain practical experience and apply “theory” to concrete management situations through action learning.
Specific coursework assignments are requested to attendees. Coursework assignments usually include field projects with specific companies, presentations of group projects or of specific experiences.
Students taking the field project group assignments will receive feed-back by the partnering companies which have commissioned the project. Precondition to achieve active participation is that students prepare in advance all materials required for the weekly lectures.
Topics covered by the course include the followings:
Structure and figures of life science industry
Specificities of healthcare sector
Technological Innovation
Process Management in healthcare
Performance Evaluation
Value Based Health Care
Patient flow logistics
One Health
Supply Chain Management
Market access strategy for pharmaceutical companies
The course is taught by combining lectures, in-class discussions and case analysis, site visits, and independent study of articles. A close interaction with a group of leading imstitutions operating in the life science industry enables attending students to gain practical experience and apply “theory” to concrete management situations through action learning. Precondition to achieve active participation is that students prepare in advance all materials required for the weekly lectures.
Topics covered by the course include the followings: the essence of the Luxury company business model and the main difference with respect to the Fashion business model; the main players, their subsidiaries and their financial position , the peculiarities for luxury companies in managing the “traditional” functions of marketing, branding, retail and distribution on the different sub-sectors (i.e. Apparel, Jewelry, Watches, Hotellerie, Beauty, etc.). As the fashion industry is one of the major contributors to worldwide pollution, the course underlines the pivotal role of sustainability, but also social aspects like diversity and inclusion and in general CSR, in the current and future fashion and luxury management practices.
The course is taught by combining lectures, in-class discussions and case analysis, site visits, and independent study of texbooks and articles. A close interaction with a group of luxury and fashion firms enables attending students to gain practical experience and apply “theory” to concrete management situations. Students taking the group assignments will receive feed-back by the partnering companies which have commissioned the project.
Topics covered by the course include the followings: theories on management processes, defining MNEs, strategic planning and control in multinational organizations, organizational structures and staffing policies of MNEs, performance management in a global setting.
The course is taught by combining lectures, in-class discussions and case analysis, site visits, and independent study of reading materials. A close interaction with a group of leading MNEs enables attending students to gain practical experience and apply “theory” to concrete management situations through action learning. Students taking the group assignments will receive feed-back by the partnering companies which have commissioned the project. Precondition to achieve active participation is that students prepare in advance all materials required for the weekly lectures.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
Students are assessed by: a) a final written test at the end of the course composed of two open questions (40%) and one short case study (20%); b) a group assignment commissioned by partnering companies (40%). The final grade achieved may be improved by class participation allowing students to receive an overall score ranging from -1 to +2. Minimum attendance of 75% is mandatory for a final PASS in the multiple assessment.
Single assessment route
Students are evaluated through an oral test covering the whole program of the course composed of an open question on theoretical and conceptual issues (40%), an open question covering the case studies included in the program (40%) and one short case study (20%). Even though attendance is not mandatory for a PASS in the single assessment, it is strongly recommended.
Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product). The student's preparation is evaluated according to grading scales which are published on Blackboard.
Multiple assessment route
written final exam (during official exam sessions): 60%
class participation: 10%
group work: 30%
Single assessment route

• written exam during official exam sessions
  Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product). The student's preparation is evaluated according to grading scales which are published on Blackboard.
  Students can choose between a multiple assessment route and a single assessment route.
  Multiple assessment route
  Students are assessed by: a) a final written test at the end of the course composed by two open questions (40%) and one short case study (20%); b) a group assignment commissioned by partnering companies to foster action learning (40%). The final grade achieved may be improved by class participation allowing students to receive an overall score ranging from -1 to +2. Minum attendance of 75% is mandatory for a final PASS in the multiple assessment.
  Summative assessment
  Students are evaluated through an oral test covering the whole program of the course composed by an open question on theoretical and conceptual issues (40%), an open question coverig the case studies included in the program (40%) and one short case study (20%). Even though attendance is not mandatory for a PASS in the single assessment, it is strongly recommended.
  Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product).
  The student's preparation is evaluated according to grading scales which are published on Blackboard.
  Students can choose between a multiple assessment route and a single assessment route.
  Multiple assessment route
  Students are assessed by: a) a final written test at the end of the course composed by two open questions (40%) and one short case study (20%); b) a group assignment commissioned by partnering companies (40%). The final grade achieved may be improved by class participation allowing students to receive an overall score ranging from -1 to +2. A mininum attendance of 75% is mandatory for a final PASS in the multiple assessment.
  Single assessment route
  Students are evaluated through a written test covering the whole program of the course consisting of: a) an open question on theoretical and conceptual issues (40%); b) an open question covering the case studies included in the program (40%); c) one short case study (20%). Even though attendance is not mandatory for a PASS in the single assessment, it is strongly recommended.
  Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product).
  The student's preparation is evaluated according to the following grading scale:
  Grade
  Commmon description
  Open questions
  Case studies
  Group assignment
  30 - 30 cum laude
  Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
  Excellent breadth and depth of knowledge of subject matter
  Full understanding of questions
  Original and very well formulated arguments, strongly connecting different knowledge objects
  Full understanding of multi-cultural business contexts
  Strong and fully rigourous use of evidence
  Excellent efficacy of applied analysis, with many original and critical arguments
  27-29
  Very good quality showing that learning outcomes are surpassed
  Good breadth and depth of knowledge of subject matter
  Very good understanding of questions
  Clearly developed arguments, with some original arguments and connections between knowledge objects
  Very good understanding of multi-cultural business contexts
  Very good use of evidence
  Very good efficacy of applied analysis, with some original and critical arguments
  24-26
  Good quality showing that learning outcomes are achieved and to some extent surpassed
  Adequate breadth of knowledge of subject matter
  Quite complete understanding of questions
  Clearly developed arguments, with few original arguments
  Quite complete understanding of multi-cultural business contexts
  Adequate use of evidence
  Adequate efficacy of applied analysis
  Originality and critical thinking are present, but limited
  21-23
  Basic quality with clear evidence that learning outcomes are achieved
  Basic breadth of knowledge of subject matter
  Basic understanding of questions with some inadequacies
  Developed arguments, without original arguments
  Basic understanding of multi-cultural business contexts
  Basic use of evidence with some inadequacies
  Basic applied analysis with some inadequacies and without original and critical argumentations
  18-20
  Sufficient quality showing that learning outcomes are being achieved
  Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
  Partial understanding of questions
  Argumentation is present, but limited
  Partial understanding of multi-cultural business contexts
  Partial use of evidence
  Applied analysis is framed, but limited
  Argumentation is present, but limited
  0-17
  Unsatisfactory quality showing that learning outcomes are not achieved
  Absent or poor knowledge of subject matter
  Absent understanding of questions
  Argumentation is absent
  Absent or poor understanding of multi-cultural business contexts
  Absent or wrong use of evidence
  Absent or wrong applied analysis
  Argumentation is absent

Required readings
Milan Kubr, Management Consulting a guide to the profession, Fourth Edition, International Labour Office Geneva, 2002 (selected chapters).
Bashab-Piot, The Professional Services Firm Bible, John Wiley & Sons Inc., 2005 (selected chapters).
Further readings posted in blackboard during the course
Required readings
Villa S. (2021) “Operations Management for Healthcare Organizations: Theory, Models and Tools” Routledge Taylor & Francis Group, New York
Further required readings are available in Blackboard.
Required readings
J.N. Kapferer, Kapferer on luxury, Kogan Page, 2015.
J.N. Kapferer-V. Bastien, The luxury strategy, Kogan Page, 2013 2nd edition.
Berghaus, Mullen-Stewens, Reinecke, The management of luxury, Kogan Page, 2015 (pg. 38-41, chap. 03).
Required readings
Managing MNEs, Harvard Business School Publishing, digital coursepack - link available on Blackboard (Multiple assessment: Selected materials; Single assessment: all materials).
Additional readings
Additional readings are detailed in the teaching materials published in Blackboard.
Recommended journals
Academy of Management Journal; Journal of Management; Journal of International Business Studies; Journal of World Business; International Business Review; Global Strategy Journal; Asia Pacific Journal of Management.

There is growing recognition of the role business and market-based solutions can play in tackling complex ‘wicked’ global sustainable development challenges, including reducing poverty, protecting vulnerable ecosystems, and responding to global climate change. Concurrently, issues of sustainability and the broad role of business in society remain high on public agendas, while sustainability and stakeholder management are increasingly important considerations for business managers. Responding to these developments, this course focuses on the understanding of contemporary debates and practices of business sustainability, the interconnection between sustainable and digital transformation and stakeholder management, as well as encouraging reflection on the wider role of business in sustainable development. The course answers key questions on the relationship between business and society, including: what is the impact of business on society? How should companies manage their relationships with stakeholders? How can companies be more transparent and responsive towards the context in which they operate? How can firms create value, broadly defined, in ways that are sustainable? How might they strategically engage with issues and practice related to business sustainability? What is the future of relationships between business and society?
At the end of the course students will be able to:
Discuss concepts, debates and theories of business sustainability and stakeholder management, and explain their relevance to sustainable development and wider management (CILO 1.1 - Knowledge);
Discuss current developments and new phenomena in the field of business and society such as social innovation, social entrepreneurship, and alternative business models (CILO 1.2 - Knowledge);
Discuss systems and practices of business sustainability and stakeholder management, and their relationship with long-term performance, including their application across different industries, geographies, and social and environmental domains (CILO 2.1 - Knowledge);
Research and use public data to analyze a company’s approach towards business sustainability and stakeholder management (CILO 3.1 - Intellectual Skills);
Perform a stakeholder analysis to inform strategic planning in real scenarios and in relation to business sustainability (CILO 4.1 - Practical Skills);
Evaluate business sustainability practices in real life scenarios and critically reflect on their role in long-term firm performance (CILO 4.2 - Practical Skills);
Make recommendations for new strategies and practices related to business sustainability and stakeholder management (CILO 4.3 - Practical Skills).
To achieve this aim, the course is structured around two modules, each with a specific focus area.

Module I
The module aims to present the contribution on business sustainability to firms’ competitive strategy and main responsible practices toward stakeholders. The module will provide students with essential tools to design an effective Sustainability strategy and contribute to the firm’s competitive advantage and performances.
Module II
The module aims to introduce key theories and debates on business sustainability and stakeholder engagement. This will include the definition of key sustainability terms and concepts, stakeholder analysis, corporate governance and sustainability, sustainability reporting, wider actors in the field of sustainable business, and new and future developments in business sustainability research and practice. The module will equip students with essential knowledge and tools to understand and manage issues of business sustainability and stakeholder relations in their future professional activities.
The main topics of the course are:
Module I
Design a Sustainability strategy Social responsibility and value creation, the integration of social responsibility in strategic plan.
Activities toward suppliers Definition, strategies, and tools for integration of social and environmental issues in supply chain.
Activities toward natural environment Types of environmental strategies and new business models for circular economy.
Activities toward community and customers Identify social needs and the implementation of strategic philanthropy.
Activities toward employees Globalization and human rights, assessing internal expectations and work-life balance initiatives.
Measuring impact of Sustainability strategy The principles and process for social impact measurement.
Sustainability and artificial intelligence The sustainability of artificial intelligence and contribution of artificial intelligence to sustainable development.
Module II
Stakeholders in business sustainability.
Stakeholder and shareholder theories of the firm, stakeholder analysis and engagement, trust in stakeholder relationships.
Business sustainability and corporate governance. Introduce and define key terms and theories of business sustainability, discuss the case for and against business sustainability. Define corporate governance and discuss its relationship with business sustainability.
Reporting and business sustainability. Sustainability reporting and auditing, materiality analysis.
Partnerships and government in business sustainability
Partnerships for business sustainability, the role of governments and regulation in business sustainability.
Innovation and new directions in business sustainability Social innovation, ‘Shared Value’, and Base of the Pyramid business strategies, social entrepreneurship, and small business sustainability.
Teaching methods will encourage students’ active participation and interaction between students, lecturers, and guest speakers. Case histories, business cases and global examples from the field will be introduced. To achieve active participation, it is expected that students will prepare in advance all materials required for the weekly sessions. Additional information is available on blackboard.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
As a mandatory part of the multiple assessment route students must complete two group projects though action learning by applying knowledge and tools of stakeholder management and business sustainability to real scenarios. The first group assignment is a “stakeholder analysis”. Students will analyze public information on a firm with the aim of mapping and prioritizing its stakeholders, as well as performing a critical analysis of its approach to stakeholder management. The results of this stakeholder analysis will be presented to professors in a dedicated session. In a second group assignment students will work to develop a “strategy for business sustainability” for one firm. Each group will work as a strategic department in charge of assessing the existing strategy of one real firm and developing a new social initiative to be implemented by the firm. Results of the business sustainability strategy group work will be presented to professors and managers.
The multiple assessment final grade will be computed on three combined assessment elements: (i) the proposal of a “strategy for business sustainability” to professors and managers of the firm (weighted 25% of final grade); (ii) the presentation to professors of stakeholder analyses (weighted: 25% of final grade); (iii) an individual written exam to be held during first official exam session (three open theoretical questions) (weight: 50% of final grade). Each assessment will receive a mark on a 30-points scale. Finally, students receive a mark that will be the weighted average of the grades they got in the three assessments.
For a PASS in the multiple assessment route, the following conditions must be met: (i) the assessment elements are mandatory; (ii) the grade received in each assessment element must be greater than or equal to 18. Students who do not pass the multiple assessment route are evaluated according to the single assessment route. Even though attendance is not mandatory for a PASS in the multiple assessment route, it is strongly recommended.
Single assessment route
The single assessment will be based on a comprehensive individual written exam (six open questions) to be held in an official exam session. Three questions will aim to assess the student’s knowledge and intellectual and practical skills, with another three questions focusing on discussion of specific cases or strategic situations. Each answer will receive a mark on a 30-points scale and the average of the grades of the answers will provide the final grade of the individual.
The student's preparation is evaluated according to grading scales which are published in Blackboard. In this context, effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product).

Required readings for students who selected a multiple assessment route.
List of readings for students who selected a multiple assessment route will be available on blackboard.
Required readings for students who selected a single assessment route.
List of readings for students who selected a single assessment route will be available on blackboard.

The objectives of the course are twofold. Firstly, to identify and to understand what happens in the external scenario and how it acts as a driver for the change, detailing also the ways the organizations approach the change process in terms of methodologies, resources and results. Secondly, to manage the human side of the change, both on personal basis (skills needed to live, promote and lead the change) and on managerial basis (how to overcome resistances).
At the end of the course, students will be able to:
identify and interpret the theoretical and conceptual foundations helpful to understand how enterprises face significant changes, within the external scenario as well as inside the organization, and their relative reasons and drivers, including the digitalization processes (CILO 1.1 - knowledge);
develop the theoretical and conceptual knowledge on adapting to, leading and managing sustainable change processes and projects, applied to local and global contexts, at both organization and individual levels (CILO 2.1 - knowledge);
analyze, interpret and discuss academic and empirical data and information and transform them into relevant and actionable knowledge on when, why and how it is necessary to change along the life of local and global organizations, taking into account the impact of digital journeys on the organizations as well as the progressive adoption of AI as a basic tool for the change (CILO 3.1 - intellectual skill);
apply valuable theoretical and conceptual knowledge on how to effectively manage and lead change programs and projects, with a particular focus on the digital transformation processes (CILO 4.1 - practical skill);
anticipate, understand and respond to individual reactions to change situations and make ethical decisions on how to lead them, including a correct use of the AI applications to the change processes (CILO 5.1 transferable skill).

Module 1
Managing change (Prof. Giacomo Manara)

• The reasons and the drivers for change, external and internal.
• The nature of organizational change.
• How change emerges in organizations.
• How the organizational structures are combined with change.
• Strategies of change and its management.
• Change readiness, enablers and obstacles to change.
• Successful processes and projects of organization change: hard and soft systems models for change.
• Sustainable change implementation and its performance.
• The impact of sustainable change on organizations and work environments.
• Innovation and trends for the future.
  Module 2
  Leading people to change (Prof. Bert Verhoeven)
• Social identity of the organizational system: how to investigate it.
• Individual dimensions of the change process: developing a mindset that encourages and supports change. This includes challenging assumptions, making sure you ask the right questions before looking for the answers, and looking at the organization with “fresh eyes.”.
• Individual reactions to the change process.
• Group dynamics in changing.
• The leadership of the change and the managers involved.
• Learning process, change, monitoring.
  Throughout the course a variety of teaching methods is used to encourage active learning. We combine formal and interactive teaching with projects, audiovisuals, role-plays, simulations, case histories, managers and entrepreneurs’ speeches. Blackboard online system will be intensively used for uploading the materials as well as for interacting with students. Specific coursework assignments are requested to attendees. Coursework assignments may include writing essays and reports, as well as group projects.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
Students in the first module (50% of the final mark) are evaluated through:
a final written test (counting for 70% of the module 1 mark). It includes 2 open questions (each one counting for 25% of the test grade) and 1 short business case (50% of the test grade). The test is scheduled at the end of module 1;
a group assignment (30% of the module 1 grade) aimed at delivering a proposal of a specific projet regarding how to manage a change in a given company through action learning;
the module 1 grade may be improved by class participation allowing students to receive an overall score ranging from -1 to +2.
Students in the second module (50% of the final mark) are evaluated through:
class participation (15 % of the module 2 grade)
a group project (60% of the module 2 grade) aimed at delivering, presenting and discussing a written proposal of a specific project regarding how to lead people to change in a given company, which will be also presented and discussed through action learning;
a final written exam (25% of the module 2 grade), composed of reflective essay consisting of two questions:
what were your major takeaways from Module 2? Be specific using references from the readings, cases, class discussion and team project;
how would you assess your own strengths and weaknesses as a change leader? How can the Module 2 course content help you address change management skills that require attention? Again, be specific and reference course content.
For a PASS in the multiple assessment route, the following conditions must be met: (i) each component of the assessment path is mandatory; (ii) the grade received in each component must greater than or equal to 18. Students who do not pass the multiple assessment route are evaluated according to the single assessment route. Even though attendance is not mandatory for a PASS in the multiple assessment route, it is strongly recommended.
Single assessment route
The exam consists of:
oral open questions, which will be assessed during an oral exam (40% of the final grade); open questions are used to assess the intended knowledge outcomes;
an individual written assignment, which must be sent to the professor with a three days notice and discussed during the oral exam (60% of the final grade); the individual assignment, regarding a business case on a change management situation, is used to assess the intended skill outcomes.
Even though attendance is not mandatory for a PASS in the single assessment route, it is strongly recommended.
Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product). The student's preparation is evaluated according to the following grading scale:
Grade
Commmon description
Open questions
Business case/Group assignment
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects
Full understanding of multi-cultural business contexts
Strong and fully rigourous use of evidence
Excellent efficacy of applied analysis, with many original and critical arguments
27-29
Very good quality showing that learning outcomes are surpassed
Good breadth and depth of knowledge of subject matter
Very good understanding of questions
Clearly developed arguments, with some original arguments and connections between knowledge objects
Very good understanding of multi-cultural business contexts
Very good use of evidence
Very good efficacy of applied analysis, with some original and critical arguments
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Adequate breadth of knowledge of subject matter
Quite complete understanding of questions
Clearly developed arguments, with few original arguments
Quite complete understanding of multi-cultural business contexts
Adequate use of evidence
Adequate efficacy of applied analysis
Originality and critical thinking are present, but limited
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter
Basic understanding of questions with some inadequacies
Developed arguments, without original arguments
Basic understanding of multi-cultural business contexts
Basic use of evidence with some inadequacies
Basic applied analysis with some inadequacies and without original and critical argumentations
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited
Partial understanding of multi-cultural business contexts
Partial use of evidence
Applied analysis is framed, but limited
Argumentation is present, but limited
0-17
Unsatisfactory quality showing that learning outcomes are not achieved
Absent or poor knowledge of subject matter
Absent understanding of questions
Argumentation is absent
Absent or poor understanding of multi-cultural business contexts
Absent or wrong use of evidence
Absent or wrong applied analysis
Argumentation is absent
The student's class participation is evaluated according to the following grading scale:
Score
Description
+2
Excellent breadth and depth of interventions, with many and very well formulated arguments regarding the theoretical and conceptual foundations of the discussed topics
Execellent discussion of empirical evidences, with many original and critical arguments regarding case studies
+1
Good breadth and depth of interventions, with some well formulated arguments regarding the theoretical and conceptual foundations of the discussed topics
Good discussion of empirical evidencee, with some original and critical arguments regarding case studies
0
Absence of well formulated arguments regarding the theoretical and conceptual foundations of the discussed topics
Absence of original and critical arguments regarding the discussion of case studies
-1
Meaningless interventions regarding the theoretical and conceptual foundations of the discussed topics
Meaningless arguments regarding the discussion of case studies

Required readings
B. SENIOR, S.SWAILES, C.CARNALL, Organizational Change, Sixht Edition, Pearson Ed.
Readings and other course materials available electronically via Blackboard online system.
Additional readings
Additional readings and cases are published in Blackboard before or during the course.
Recommended journals
Harvard Business Review, Academy of Management Journal; Academy of Management Review; Organization Science; Organization Studies; Organizational Behavior; Leadership Quarterly; Journal of Change Management; Journal of Management; Journal of Organizational Change Management; Journal of Business Research; Journal of Applied Psychology; International Journal of Knowledge, Culture, and Change Management, International Journal of Strategic Change Management

The objectives of the course are four. The first aim is to provide students with knowledge and understanding of cultural dimensions that identify people’s thought, reasoning, affects, communication and behavior. The second aim of the course is to provide students with the ability to effectively manage intercultural, diverse and distant teams and understand complex international business organizations. Third, the course aims to provide students with an essential Communication, Negotiation and Lateral Leadership model applicable to different multicultural and organizational contexts. The fourth is to offer a critical rethinking of cultural models in organisations and organizational practices through creative methodologies.
At the end of the course, students will be able to:
identify and interpret the theoretical and conceptual foundations of cultural dimensions and dynamic cultural frameworks in global contexts and support ethical and sustainable decision making (CILO 1.1, knowledge);
identify and interpret the theoretical and conceptual foundations of communication, negotiation and lateral leadership frameworks in global contexts (CILO 1.2, knowledge);
develop theoretical and conceptual knowledge on the design and implementation of managerial practices in international organization structures (CILO 2.1, knowledge);
analyze, interpret, and evaluate cultural differences by means of appropriate methodologies, also leveraging digitalisation (CILO 3.1 – intellectual skill);
experiment with creative, sensory and aesthetic methodologies (CILO 3.2 – intellectual skill);
transform new knowledge into relevant actions to manage intercultural, diverse and distant teams (CILO 3.3, intellectual skill);
apply proven theoretical and conceptual knowledge to the design and use of managerial processes in managing intercultural, cross-functional and distant teams in complex multicultural organizational settings ( CILO 4.1, practical skill);
operate effectively within an international multicultural team in a complex multicultural organizational setting (CILO 6.1 transferable skill);
disseminate critically and creatively the main learning points of the course (CILO 6.2 – transferrable skill).
engage with reflection and reflexivity on one’s own life and work experiences of cross-culturality (CILO 7.1 - behaviour);

Module 1 - Culture
Behavioral cultural dimensions theories (Hofstede, Hall, Trompenaars, Schwartz, Lewis), Dynamic Theories on culture, cultural intelligence, the influence of cultural on ERS
Module 2 – rethinking cross-culturality
By means of experiential learning, the module focuses on the presentation of different critical theories to question, rethink and reframe the concept of culture. Communication and negotiation processes are approached through the lenses of the following themes: prejudice, exclusion, affects, reflexivity. Methodology: arts-based research.
This course will utilize a combination of didactic (face to face), practical (case studies and simulations), experiential (hands-on activities) and aesthetic (playful and expressive) methods to apply, investigate and evaluate content discussed in the course. Students will be required to work in pairs and in groups to carry out individual and collective projects and produce aesthetic cultural artefacts to foster action learning.
Specific for module 2, though an experiential methodology the students will be invited to arts-based and creative work, tapping into their own life experiences.
Students are expected to use AI-enabled tools to support research, analysis, and learning activities, provided their use is transparent and consistent with university guidelines.

Assessment Route: students must complete the three components below.
Cross-Cultural Management – Assessment & Project
Component
Timing
Format & Key Requirements
Weight
Project 1 (Group, 4-5 students)
End of Module 1 (submit by email on the day of the last class)

• Written report only (PDF).• Max 9 pages (excl. references & appendix).• Topic: Any cross-cultural management phenomenon of your choice, agreed in advance with the professor.• Report structure: A. Background – 2 pp. outlining the issue & research question. B. Theoretical model – apply an advanced framework to explain the situation. C. Additional frameworks & integration – enrich analysis with complementary theories. D. Your ideas & recommendations – evidence-based actions and personal insights.
  40 %
  Project 2 (Group, 4-5 students)
  End of Module 2 (submit by email on the day announced in class on the first day of teaching)
• Written product of aethetic character (PDF).• Max 5 pages.• Topic: Any cross-cultural management phenomenon of your choice, agreed in advance with the professor.• the form will be of a theatre script.
  Oral presentation: the groups will be asked to present their aethetic product through appropriate dissemination approaches and to evaluate the other groups’ presentations by means of debriefing methodology.
  40 %
  Final Exam
  Official exam session after both modules
• 20 multiple-choice questions covering the entire course.• Each correct answer = 1 point; no negative marking.
  20 %
  Grading & Pass Requirements
  Final mark = weighted average of the three components, rounded to the nearest whole number (out of 30).
  Minimum pass for each component: 18/30. Any failed component must be resubmitted/re-sat at the next exam window.
  Logistics
  Groups: 4–5 students, self-selected. Inform the professor of your group composition and chosen topic before you start (a short email is sufficient). Groups will be asked to produce a process description to assess equal and equally distributed participation to group-work.
  Submission: One PDF per group, sent to both module instructors by 23:59 on the deadline day.
  Attendance: Regular attendance and active participation are vital to your success in this course. In accordance with institutional guidelines, a minimum of 75% attendance is mandatory to pass this course and remain eligible for the final examination.
  *(No presentation, evaluation grid, or formal registration platform is required.)
  Single assessment route
  The exam consists of a written test, composed of 4 open questions and 1 case study on the whole program of the course (weights: 15% for each open question and 40% for the case study).
  The student's preparation is evaluated according to grading scales which are published on Blackboard. In this context, effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product).

Required readings
T. Neeley (2015, October 1). Global Teams That Work. Harvard Business Review, October 2015. https://hbr.org/2015/10/global-teams-that-work
Y.S. Rana, The 4Ps Framework: Advanced Negotiation and Influence Strategies for Global Effectiveness, CreateSpace Independent Publishing Platform, 2014 (Chapters 2, 3, 4, 5).
Chemi, T. (2020). The golden path towards the arts in/with business. In Innovation and the arts: The value of humanities studies for business (pp. 43-57). Emerald Publishing Limited.
Taylor, S. S., & Ladkin, D. (2009). Understanding arts-based methods in managerial development. Academy of Management Learning & Education, 8(1), 55-69.
Supplementary readings
Csikszentmihalyi, M. (2014). The systems model of creativity. Dordrecht: Springer. Chapter 4 (pp.47-60)
Chemi, T., & Du, X. (Eds.). (2017). Arts-based methods and organizational learning: Higher education around the world. Springer.

Entrepreneurship is gaining increasing relevance within the business community as a process creating value for a plurality of stakeholders, from the entrepreneur him/herself to employees, customer, partners and the surrounding community. It is therefore of key importance understanding how and why the entrepreneurial process unfolds and what its effects are.
The course aims at providing students with a set of frameworks and tools to design, innovate and validate compelling business models and convert them into reliable business plans. The course involves a number of guest speakers to illustrate how these frameworks and tools can be used in the real work.
At the end of the course, students will be able to:
Identify and interpret individual- and contingency-related factors underlying the opportunity recognition process in a wide domain of contexts. (CILO 1.1 - Knowledge)
Identify and interpret business models and their consequences in terms of company’ and startup’s financial, social and environmental sustainability (triple bottom line approach). (CILO 1.2 - Knowledge)
Understand business model innovation patterns based on digital technologies and the key requirements for their implementation. (CILO 1.3 - Knowledge)
Make sense of the validation process of business models’ assumptions and pivoting in the startup environment in local and global contexts. (CILO 3.1 - Intellectual skill)
Convert business assumptions into systematic information and highlight their consequences into financial and social/environmental impact terms in local and global contexts with the use of AI. (CILO 4.1 - Practical skill)
Contribute proactively to a team-level decision making process in a multicultural environment. (CILO 6.1 – Transferable skill)

The entrepreneurial process (with a special emphasis on opportunity recognition techniques) and its contexts, business model design, innovation processes, validation processes, business planning, pithcing, with an overall emphasis on responsible decision making.
Teaching methods will stimulate students’ participation and active interactions between students, lecturers and guest speakers. Case histories, business cases and examples on the field will be frequently discussed. Specifically, every second session of the week will host a guest speaker with the specific aim of showing how the tools/frameworks introduced in session one may work in real business-life contingencies. Dedicated coaching sessions for the group assignment will be hold both within and out of class hours.

Students can choose between a “multiple assessment route” and a “single assessment ruote”.
Multiple assessment route
Students are assessed by means of a group assignment (40% of the final grade) and an individual final written exam (60% of the final grade). With regard to the former, through action learning students will be organized in groups of 4-5 members and be required to deliver a business plan about a brand new business idea (to be discussed on the last day of class).With regard to the latter, the exam is made of three open questions on the contents of the course. Each answer will be graded on a /30 basis. The final written exam grade is based on the average grade of the three answers (each answer is equally graded). For a PASS in the multiple assessment route, both group assignment and final written exam grades must be equal or above 18/30. Attendance (not less than 75% of class sessions) is mandatory for a PASS in the multiple assessment route.
Single assessment route
A single assessment route is based on a final written exam (70% of the final grade) and an individual project presentation (30% of the final grade). The exam is made of six open questions on the contents of the course, including all readings. Each answer will be graded on a /30 basis. The final written exam grade is based on the average grade of the six answers (each answer is equally graded). The individual project consists on the proposal of a brand new business idea, providing the underlying business logics and key financial figures, to be delivered and presented on the day of the written exam. Even though attendance is not mandatory for a PASS in the single assessment route, it is strongly recommended.
Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product). The student's preparation is evaluated according to the following grading scale:
Grade
Commmon description
Oral questions
Group assigment / Individual paper
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects
Full understanding of multi-cultural business contexts
Strong and fully rigourous use of evidence
Excellent efficacy of applied analysis, with many original and critical arguments
27-29
Very good quality showing that learning outcomes are surpassed
Good breadth and depth of knowledge of subject matter
Very good understanding of questions
Clearly developed arguments, with some original arguments and connections between knowledge objects
Very good understanding of multi-cultural business contexts
Very good use of evidence
Very good efficacy of applied analysis, with some original and critical arguments
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Adequate breadth of knowledge of subject matter
Quite complete understanding of questions
Clearly developed arguments, with few original arguments
Quite complete understanding of multi-cultural business contexts
Adequate use of evidence
Adequate efficacy of applied analysis
Originality and critical thinking are present, but limited
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter
Basic understanding of questions with some inadequacies
Developed arguments, without original arguments
Basic understanding of multi-cultural business contexts
Basic use of evidence with some inadequacies
Basic applied analysis with some inadequacies and without original and critical argumentations
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited
Partial understanding of multi-cultural business contexts
Partial use of evidence
Applied analysis is framed, but limited
Argumentation is present, but limited
0-17
Unsatisfactory quality showing that learning outcomes are not achieved
Absent or poor knowledge of subject matter
Absent understanding of questions
Argumentation is absent
Absent or poor understanding of multi-cultural business contexts
Absent or wrong use of evidence
Absent or wrong applied analysis
Argumentation is absent

Required readings
Osterwalder, Alexander, and Yves Pigneur. Business model generation: a handbook for visionaries, game changers, and challengers. John Wiley & Sons, 2010. (Multiple assessment: Selected Chapters; Single assessment: all book).
Barringer, Bruce R., and R. Duane Ireland. "Entrepreneurship. Successfully launching new ventures." Fifth Edition. (Multiple assessment: Selected Chapters; Single assessment: all book).
Additional readings
Additional readings are detailed in the teaching materials published in Blackboard.
Recommended journals
Academy of Management Journal; Academy of Management Review; Journal of Business Venturing; Entrepreneurship: theory and practice; Journal of Business Ethics; Journal of Management; Journal of Management Studies; Journal of Business Strategy; California Management Journal; Stanford Social Innovation Review; Journal of Social Entrepreneurship.

The objective of the course is to provide students with a solid logical foundation that enables them to comprehend how imperfectly competitive markets work and the most fundamental firm choices in terms of market strategies.
At the end of the course, students:
will have sufficient knowledge to read any article in a specialized Journal of Industrial Organization (CILO 3.1 – intellectual skill).
will be able to apply the most relevant notions of industrial organization to empirical cases (CILO 3.2 – intellectual skill).
will be capable of describing articles at the frontier of current research and communicate the findings to a general audience (CILO 3.3 – intellectual skill).
will be able to attend more advanced studies on industrial organization (CILO 3.4 – intellectual skill).
will be able to develop autonomously simple variations of scientific models (CILO 4.1 – practical skill).

The course examines the economic foundation of firms competitive strategies in a straightforward manner. It will develop some of the issues dealt with in a basic micro-course. After introducing monopoly and perfect competition theory, it will deal with the more general cases of oligopolies concerning price and non-price competition, such as product differentiation, advertising, R&D, and network industries. Moreover, barriers to entry, market power, horizontal and vertical agreements will be essential components of the classes.
Analytical Program
Overview of Basic Microeconomics: Market Power
Market Power and Concentration
Firms Pricing. Price Discrimination

• The conditions for the three degrees of discrimination;
• Linear Tariffs;
• Two-Part Tariffs;
• Other Forms of Discrimination.
  Monopolist product choice
• Product Differentiation in the Space (Hotelling);
• Horizontal Differentiation and Varieties;
• Vertical Differentiation and Quality Choice.
  Oligopoly – Price Strategies
  Methods for the Economic Analysis
• Elements of Game Theory;
• Nash Equilibrium;
• Dynamic Games and Backwards Induction.
  Basic Models
• Bertrand and Cournot Models;
• Capacity Constraints (slides);
• Comparative Statics;
• Strategic Substitutes and Complements;
• The Order of Moves: The Stackelberg Model.
  Oligopoly – “Anticompetitive” Strategies
  Entry, Entry Barrier and Predatory behaviour)
• Entry Costs;
• Entry Barriers, Capacity and Credibility (limit pricing);
• The Role of Asymmetric Information.
  Dynamic Models and Collusion
• Repeated Games and Collusion;
• Facilitating Factors;
• The Role of Asymmetric Information;
• Facilitating Behaviours.
  Horizontal and Vertical Relations
  The Boundaries of the Firms and Mergers
• Mergers;
• Horizontal Mergers.
  Vertical Structure
• Double Marginalization and Vertical Integration;
• Two-Part Tariffs;
• Vertical and Horizontal Externalities with Vertical Separation;
• Contractual Remedies to the Externalities;
• Vertical relation with asymmetric information.
  Oligopoly – Non-Price Strategies
  Product Differentiation
• Differentiated Oligopoly;
• The Linear City Model and the Transportation Costs;
• Product Proliferation and Entry Barriers;
• Vertical Differentiation and Competition;
• Switching Costs.
  Advertising
• Informative and Persuasive Advertising;
• Market Structure and Advertising Expenditure (Dorfman – Steiner);
• Information and Advertising;
• Advertising and Competition.
  Research and Development (chap. 18)
• R&D Incentive to Invest and Market Structure;
• Patents;
• Technological and strategic uncertainty (slides);
• Long Run Dynamic Competition (slides).
  Net and Regulated Industries
  Competition in net industries (chap. 19)
• Network Externalities and Monopolization;
• Adopting Innovations;
• Compatibility among Networks.
  Monopoly and Regulated Industries (slides)
• Monopolistic (network) Industries Regulation;
• The Notion of essential facility;
• Access to Networks.
  Two-sided Markets.

A written exam, which includes 4 theory questions and 2 exercises, is the evaluation method for students who fail to attend classes.
Four elements will determine the evaluation for students who actively participate in classes.
The solution to the take-home assignments
Oral discussion of those solutions in class
Class participation
Presenting a scientific paper at the forefront of research.
The four elements will have equal weights.
Attendance will be tracked to ascertain class participation. Only students who will attend at least 70% of the classes are eligible for this evaluation method.
At the end of the classes, I may ask some students for a short oral examination on take-home assignments to ascertain the improvements in economic understanding.
In the take-home assignments, it is forbidden to paste parts from unspecified sources. The assignment will receive a strongly insufficient grade if it is not compliant. On the contrary, the use of AI programs is highly encouraged. In this case, students must declare the program used and clearly state the questions asked to the program and its answers.

P. Belflamme-M. Peitz, Industrial Organization: Markets and Strategies, Cambridge University Press, 2015.
During the classes, professor Piero Tedeschi may use slides available on Blackboard, which will be a significant part of the references.
Classes will alternate traditional lessons taught by the teacher and presentations organized by small groups of students. Presentations by students will typically focus on empirical papers, in the field of industrial organization. The final evaluation will consider the quality of the presentations.
During classes, students will also receive problem sets, which will be evaluated.

The course aims to give a broad and critical understanding of the international business environment within which firms operate. The course provides students with the critical skills and practical tools to better understand the major international management issues and opportunities facing the firm’s internationalization process.
The course addresses the following main questions:
Why do firms expand abroad?
What do they bring abroad?
Where do firms go?
How do firms expand abroad?
Why are some companies successful in internationalizing their business activities while others are not?
How do managers cope with the constraints and opportunities of managing the main firm functions they face when managing cross-border operations?
The above questions will be discussed by differentiating managing a small and medium-sized enterprise (SME) from managing a large multinational enterprise (MNE).
At the end of the course, students will be able to:
identify and interpret the phenomenon of globalization, de-globalization, fragmentation, and multipolarity and their major drivers, including digitalization, and geopolitical and international trade and international management implications. Students will also address the emerging managerial and ethical challenges and opportunities underpinning the rapidly changing global business environment - shaped increasingly by digital technologies - and the need to strike a balance between international business expansion goals and ethical, sustainable, environmentally friendly (net zero targets) and inclusive goals (CILO 1.1 - knowledge);
identify and interpret the theoretical and conceptual foundation regarding the fundamental managerial issues involved in doing business within an international environment, including those emerging from digital transformation and data-driven decision-making (CILO 1.2 - knowledge);
analyze, interpret, discuss, and evaluate international business theories, models, business cases, and empirical research data - including those related to digital platforms, Industry 4.0, and global e-commerce - in order to transform them into relevant and actionable knowledge about the global business environment (CILO 3.1 - intellectual skill);
apply theoretical frameworks and data-driven insights to design and review internationalization processes and managerial strategies for firms operating in multicultural global markets (CILO 4.1 - practical skill).
critically recognize, assess, and review how international business models and theories, considering digital disruption, can be applied for effective and responsible decision-making practices and problem-solving, digitally enabled global organizations (CILO 5.1 - transferable skill);
operate effectively within an inclusive multicultural team involved in international business activities by different types of international organizations, while leveraging digital collaboration tools and platforms for communication, coordination, and knowledge sharing (CILO 6.1 - transferable skill).

The phenomenon of globalization, de-globalization, and multipolarity; international trade theories and policies in the context of digital trade. Defining the business: MNEs versus SMEs and Born Globals in the digital age; foreign market entry modes and market selection processes supported by digital analytics and data-driven tools. International strategy formulation and execution, including global standardization versus localization and the impact of digital transformation. Sustainable business models, circular economy strategies, and pursuing the triple bottom line (social, environmental, and economic growth) to achieve Net Zero targets. International business management in the digital era: the role of AI, Generative AI, Big Data, IoT, and blockchain in enhancing strategic agility and value delivery. Organizational architecture, global human resource management (virtual/hybrid workforce), and sustainable supply chain management in the context of Industry 4.0.
Teaching methods will stimulate students’ participation and active interactions between students, lecturers, and guest speakers. Case histories, business cases, and examples in the field will be frequently discussed. Specifically, guest speaker sessions will be hosted with the specific aim of showing how the tools/frameworks introduced in the lessons work in real business-life contingencies. Dedicated coaching sessions for the group assignment will be held both within and out of class hours to support students in developing their projects. The precondition to achieve active participation is that students prepare in advance all materials required for the weekly lectures.

Students can take the exam either as Multiple assessment (attending) or Single Assessment (non-attending).
Multiple Assessment (Attending students) will be assessed through the following components:
Action learning through a group project and presentation on a given topic/paper(s) assigned during class (40% of the final grade);
An individual written exam (60% of the final grade) based on multiple choice questions and/or other possible examination components such as open-ended questions, key concepts definition, mini case studies for analysis, etc. The exam will cover the content of the course pack material (lectures, slides, book, and additional readings).
For a PASS in the multiple assessment route, both the group assignment and the final written exam grades must be equal to or above 18/30. Attendance (not less than 75% of class sessions) is mandatory for a PASS in the multiple assessment route.
The group project grade is valid only for the first two exam sessions (appelli) of the academic year 2026/2027. Students who do not pass the individual written exam within these two sessions will be required to switch to the single assessment route for any subsequent attempts.
Single Assessment (Non-attending students) will be assessed solely through a written exam, which will account for 100% of the final grade. The exam will consist of a mix of multiple choice questions, true/false statements, and open-ended questions. It will cover the full course material, including lectures, slides, textbook, and any additional readings. Even though attendance is not mandatory for a PASS in the single assessment route, it is strongly recommended.
Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product). The student's preparation is evaluated according to the following grading scale:
Grade
Common description
Knowledge & Understanding
Analysis & Applied Skills
Evidence & Communication
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond expectations.
Excellent breadth and depth of knowledge; full understanding of questions.
Original and very well formulated arguments; full understanding of multi-cultural contexts.
Strong and fully rigorous use of evidence; excellent efficacy of analysis.
27-29
Very good quality showing that learning outcomes are surpassed.
Good breadth and depth of knowledge; very good understanding of questions.
Clearly developed arguments with some original connections between subjects.
Very good use of evidence and efficacy of applied analysis.
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed.
Adequate breadth of knowledge; quite complete understanding of questions.
Clearly developed arguments with few original arguments.
Adequate use of evidence and efficacy of applied analysis.
21-23
Basic quality with clear evidence that learning outcomes are achieved.
Basic breadth of knowledge; basic understanding of questions with some inadequacies.
Developed arguments without original arguments; basic understanding of contexts.
Basic use of evidence with some inadequacies.
18-20
Sufficient quality showing that learning outcomes are being achieved.
Sufficient knowledge, even though breadth and depth are lacking; partial understanding.
Argumentation is present but limited; partial understanding of contexts.
Partial use of evidence; applied analysis is framed but limited.
0-17
Unsatisfactory quality showing that learning outcomes are not achieved.
Absent or poor knowledge of subject matter; absent understanding of questions.
Argumentation is absent; poor understanding of multi-cultural contexts.
Absent or wrong use of evidence and applied analysis.

Required readings
E-book version of:
International Business: Competing in the Global Marketplace, 14th Edition, ISBN10: 1260387542 | ISBN13: 9781260387544, By Charles Hill
International Business: The New Realities, Global Edition, 5th edition, Published by Pearson, By S Tamer Cavusgil, Gary Knight, John R. Riesenberger
Additional readings are detailed in the teaching materials published in Blackboard. Exams will cover the contents of the course pack (ebook, lecture slides, and additional readings/materials available on Blackboard) material.
Suggested Integrative Readings – Digitalization and International Business
Luo, Y., & Bu, J. (2018). Contextualizing International Business Research: A Co-evolution Perspective of Digital Globalization, Journal of International Business Studies, 49(9), 1033–1056.
Autio, E., Mudambi, R., & Yoo, Y. (2021). Digitalization, Ecosystems, and Platforms: New Directions for International Business Theory, Journal of International Business Studies, 52, 1211–1235.
Yamin, M., & Sinkovics, R. R. (2020). The Role of Digital Technologies in the Evolution of International Business Models, International Marketing Review, 37(3), 471–493.
Schroeder, R., & Dorn, J. (2021). The Digital Transformation of Global Business Models: An Empirical Typology, Long Range Planning, 54(5), 102070.
Magni, D., Chierici, R., Fait, M., & Lefebvre, K. (2022). A network model approach to enhance knowledge sharing for internationalization readiness of SMEs. International Marketing Review, 39(3), 626-652.
Recommended journals
Journal focused on international business management: Journal of International Business Studies. Journal of World Business. International Business Review. Journal of International Marketing. International Marketing Review. Journal of International Management. Global Strategy Journal. Cross Cultural & Strategic Management. International Journal of Emerging Markets. Thunderbird International Business Review. Management International Review. European Journal of International Management.
Other relevant journals:
The International Journal of Human Resource Management. International Review of Financial Analysis. Research in International Business and Finance. Journal of International Financial Markets, Institutions and Money. Asia Pacific Journal of Management. Emerging Markets Finance and Trade. Emerging Markets Review. Academy of Management Review. Journal of Management. Journal of Management Studies. Strategic Management Journal. Journal of Business Ethics. Business Ethics Quarterly. Journal of Environmental Economics and Management. International Journal of Management Reviews. Supply Chain Management: An International Journal. Journal of Small Business Management.

This course addresses corporate finance issues relevant for multinational corporations. The material covered will allow students to understand the principles and the tools to make sound international financial decisions and to manage the risks that firms are required to face in a competitive global environment.
At the end of the course, students will be able to:
identify and interpret the theoretical and conceptual foundations of the management of exchange rate risk exposure (CILO 1.1 - knowledge);
identify and interpret the theoretical and conceptual foundations related to the appraisal of investment and financing decisions in an international context (CILO 1.2 - knowledge);
understand how hedging and investment policy in an international setting can be affected by environmental and sustainability issues (CILO 1.3 - knowledge);
develop theoretical and conceptual knowledge on the design and use of proper risk management and foreign direct investment policies (CILO 2.1 - knowledge);
analyze, interpret, and evaluate key data and financial information and transform them into relevant knowledge to support corporate decisions in multinational corporations (CILO 3.1 - intellectual skill);
apply their knowledge, understanding, and problem-solving abilities in foreign exchange risk management and in investments valuation to real-world cases (CILO 4.1 - practical skill);
critically recognize, assess, and review how choices in foreign exchange risk management and in international investments and financing impact responsible decision making in complex organizations (CILO 5.1 - transferable skill).

1.Foreign Exchange Risk Management
International Monetary System. The Market for Foreign Exchange. Exchange rate and international parity relations. Futures and Options on Foreign Exchange. Foreign exchange exposure. Measuring and managing foreign exchange exposure.
2. Multinational firms and foreign direct investments
Greenfield investments. Cross-border M&As. Political risk and the impact of environmental and sustainability issues. International capital budgeting. Valuing foreign firms.
3. International capital structure and international financing
How multinational firms establish their capital structure. The cost of capital for multinational firms. International equity and debt financing.
The course will be in the form of lectures, case discussions and exercises. Students are strongly encouraged to actively participate to foster action learning. There will be in-class as well as take-home exercises. Case discussions are intended as a learning exercise. There will be group presentations as well.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
Students who plan to regularly attend classes are evaluated as follows: Class participation (30% of the final grade), Final Exam (70% of the final grade). Class participation will consider case discussions, discussions of other casual readings, solution and discussion of exercises. The Final Exam consists in a written test, composed by multiple-choice questions (20% of the final grade), an open question (10% of the final grade) and in 2 quantitative exercises (40% of the final grade). The multiple-choice questions and the open question are intended to verify the theoretical and conceptual knowledge. Quantivative exercises aim at assessing the ability to effectively apply tools and techniques learned during the course. For a PASS in the multiple assessment route, the following conditions must be met: (i) minimum attendance of 75% is mandatory; (ii) the grade received in the final exam must greater than or equal to 18; (iii) the final grade must be greater than or equal to 18. Students who do not pass the multiple assessment route are evaluated according to the single assessment route.
Single assessment route
The exam consists of a written test, composed by multiple-choice questions (20% weight), an open question (10%) and 3 quantitative exercises (70% weight). The multiple-choice questions and the open question are intended to verify the theoretical and conceptual knowledge. Quantivative exercises aim at assessing the ability to effectively apply tools and methods learned during the course.
The student's preparation is evaluated according to grading scales which are published in Blackboard. In this context, effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product).

Required readings
C.S. Eun-B.G. Resnik, International Financial Management, 10th Edition, McGraw Hill, 2024. Buy from VP

The course aims to provide students with the key concepts to understand and interpret the most relevant trends of globalisation and its recent transformations, through the application of advanced microeconomic and macroeconomic models. The course explores the main theoretical and empirical contributions in international trade and open-economy macroeconomics, with a focus on the determinants and consequences of trade and financial flows, the role of trade policies and global value chains, current account sustainability, and exchange rate dynamics.
At the end of the course, students will be able to:
develop their knowledge and understanding of the most relevant and advanced theories on the trends and effects of trade and financial flows between countries; (CILO 2.1 - Knowledge)
develop their knowledge and understanding of issues concerning (real and financial) international markets; (CILO 2.2 - Knowledge)
identify new research fields on international economics, and use empirical tools to verify the theories based on real data; (CILO 3.1 – Intellectual skill)
apply advanced theoretical and empirical tools to analyse contemporary issues in international trade and open-economy macroeconomics; (CILO 4.1 - Practical skill)
understanding of academic research papers, and present their results to both specialist and non-specialist audiences. (CILO 5.1 - Transferable skill)

1. Trade models: i) comparative advantage ii) increasing returns to scale and product differentiation iii) firm heterogeneity and inter-industry reallocation.
2. Effects of international trade and foreign direct investment on productivity and innovation.
3. Effects of international trade on labour markets.
4. Effects of trade policies, global value chains, and the reorganisation of international production.
5. International trade flows and the environment.
6. The intertemporal approach to the current account.
7. Real exchange rate and TNT model.
8. Nominal exchange rate and currency regimes.
9. Currency and foreign debt crisis
10. European Monetary Union
Frontal lectures.

Students can choose between a “multiple assessment route” and a “single assessment route”.
Single assessment route
Written exam, open ended questions on the whole program, ninety minutes long. The exam will include both theoretical questions and numerical exercises on the course programme.
Multiple assessment route
Two partial written exams, each forty-five minutes long, both contributing equally to the final grade. The mid-term test will be organized during the break of the second semester; the second test will be organized at the end of the second semester (students that pass the mid-term can complete the exam sitting in the first or in the second appello, but not in both). Student can pass the exam if and only if they obtain a grade of at least 18/30 in each test.
Grade
Common description
Written questions
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects
27-29
Very good quality showing that learning outcomes are surpassed
Good breadth and depth of knowledge of subject matter
Very good understanding of questions
Clearly developed arguments, with some original arguments and connections between knowledge objects
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Adequate breadth of knowledge of subject matter
Quite complete understanding of questions
Clearly developed arguments, with few original arguments
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter
Basic understanding of questions with some inadequacies
Developed arguments, without original arguments
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited
0-17
Unsatisfactory quality showing that learning outcomes are not achieved
Absent or poor knowledge of subject matter
Absent understanding of questions
Argumentation is absent

R.C. Feenstra, Advanced International Trade, Princeton and Oxford, Princeton University Press, 2004.
E. Helpman, Understanding Global Trade, Harvard University Press, 2011.
M. Obstfeld-K. Rogoff, Foundations of International Macroeconomics, MIT Press, 1996.
S. Schmitt-Grohe’, M. Uribe, M.Woodford, International Macroeconomics, Princeton University Press, 2022.
Further teaching material will be made available on Blackboard.

The aim of this course is to acquaint students with advanced topics in labor economics. The methodological approach of the course is directed at both the theoretical implication of economic problems, as well as their empirical applications.
The course is designed, first, to strengthen students' ability to understand and analyze the fundamentals of economic problems (CILO 1.1 – knowledge). Second, the strong focus on empirical applications and methods will give students an opportunity to improve their analytical skills (CILO 3.1 – intellectual skill). Third, students will be able to develop independent research interests (CILO 5.1 – transferable skill). Fourth, the work done in the tutorials and during the Lab session will endow students with specific skills in coding and econometric applications to microdata (CILO 4.1 – practical skill). Fifth, the organization of seminars and oral presentation of key papers will strongly improve students’ communication skills through both (CILO 6.1 – transferable skill).

The first part of the course mainly focuses on the competitive approach to labor economics, while the second part deals with market failures and institutions.
Competitive equilibrium

• Labor supply and labor demand in competitive settings.
• Technological progress, robots, AI and labor demand.
• Long-term equilibrium and efficiency.
  Wage determination and compensating differentials
• Hedonic theory and compensating wage differentials.
• Theories of discrimination.
• Empirical evidence.
  Education and Human Capital
• The theory of human capital. Signaling and education.
• Evaluations of the returns to education.
  Labor market institutions
• Unions and collective bargaining.
• Employment protection legislation.
• Statutory minimum wage laws.
  Empirical methods in economics
• Empirical applications in labor economics.
• Differences-in-differences and Regression discontinuity design.
  The course is structured in lectures and tutorials. Lectures concern the presentation of economic problems and empirical applications to labour market issues; tutorials deal with the presentation of both empirical methods, as well as journal articles on selected topics. Laboratory sessions teach students to use econometric techniques (at the computer) using both micro-data and software packages. The students will be given assignements throughout the course and asked to work on a course Project. Presentations of journal articles are an integral part of the course. The course will also discusses present times controversies in labour economics and presents the policy options that are in the agenda of National Governments in Europe and the US.

Student will be assessed as follows:
Multiple assessment route
Mid-term assignements and final written exam, with open questions covering both analytical models and empirical methods. The student is expected to show his/her understanding of the subject. This contributes to 70 percent of the final mark.
An empirical project involving replication or extension of published work (reading lists, data sets, and a selection of topics will be circulated). This contributes to 20 percent of the final mark.
Presentation of journal articles. This will contribute to 10 percent of the final mark.
Single assessment route
For non-attending students, there will be the possibility of a single assesment route covering all the above by a written exam and the submission beforehand of the empirical project.

P. Cahuc-S. Carcillo-A. Zylberberg, Labor Economics, Cambridge, Mass. and London: MIT Press, 2014 (second edition). Also see: http://www.labor-economics.org/.
Additional readings based on journal articles are an integral part of the course. The full list will be given during the classes and posted on the course website on Blackboard.

Digitalization is drastically enhancing the ability to capture and analyse information and automatize processes. This in turn is driving innovation. New technologies such as big data, artificial intelligence, blockchain, cloud computing and Internet of Things are changing the competitive landscape of most industries. To thrive, incumbents and new entrants alike must adapt both decision and operating processes. From a general management perspective, the course builds skills and competences required to understand digitalization and lead its adoption in an organization.
The course is divided into two main knowledge areas (Modules). The first focuses on Management Information Systems (MIS) fundamentals and organizational aspects. The second covers infrastructure of ISs, big data and artificial intelligence.
At the end of the course, students will be able to:
Identify and interpret multidisciplinary theoretical and conceptual foundations associated with digitalization and new technologies (including, big data, artificial intelligence, blockchain, cloud computing and Internet of Things) to understand the challenges faced by managers both in a local and global context, including ethical and sustainable considerations (CILO 1.1 - Knowledge);
Develop theoretical and conceptual knowledge of how leveraging on MISs drives digital business transformation in global and multicultural environments (CILO 2.1 - Knowledge);
Apply proven theoretical and conceptual knowledge on how to use management systems to leverage, implement and facilitate innovation and use of technologies as a competitive enabler in a fast-changing global and multicultural landscape (CILO 4.1 - Practical skill);
Develop critical decision making and sustainable problem-solving to analyse, evaluate and implement MIS and digital technologies in the business world (CILO 5.1 - Transferable skill).

Module One – Fundamentals & Impact on Organizations
Managing the Digital World;
Gaining competitive advantage through ISs;
Enabling Business-to-consumer Electronic Commerce;
Strengthening Business-to-business Relationships.
Module Two – Leveraging on MIS to Drive Digital Business Transformation
Managing the IS Infrastructure and Services;
Enhancing Business Intelligence using Big Data, Analytics and Artificial Intelligence;
Enhancing Business Processes Using Enterprise ISs;
Securing Information Systems.
In order to encourage active learning, a variety of teaching methods will be used throughout the course. This includes frontal teaching, class discussions, problem solving exercises and team work assignments (case study based). Selected guest speakers will also be invited to share their professional experiences.
Active participation is highly encouraged at all times.

Students can choose between a Multiple Assessment Route and a Single Assessment Route.
Multiple assessment route:
Final evaluation will be based on a teamwork project (60%) and on an oral test (40%). Both are mandatory:
Action learning through a teamwork project: The teamwork projects are aimed at practising how to analyse, evaluate and implement MIS and digital technologies in a real-world business context; projects are done partially in-class and partially out-of-class and include coaching from the lecturers.
Oral test: Includes open-ended questions.
Single assessment route:
A single assessment route consists of an oral test. It is composed of open questions regarding the course.
Each grade received in the written tests and in the teamwork project must be equal or greater than 18/30. Please refer to Blackboard for additional details.
Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product). The student's preparation is evaluated according to grading the following scales.
Grade
Commmon description
Specific for knowledge-type ILOs (open questions)
Specific for skill-type ILOs (case study; teamwork projects)
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects
Full understanding of multi-cultural business contexts
Strong and fully rigourous use of evidence
Excellent efficacy of applied analysis, with many original and critical arguments
27-29
Very good quality showing that learning outcomes are surpassed
Good breadth and depth of knowledge of subject matter
Very good understanding of questions
Clearly developed arguments, with some original arguments and connections between knowledge objects
Very good understanding of multi-cultural business contexts
Very good use of evidence
Very good efficacy of applied analysis, with some original and critical arguments
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Adequate breadth of knowledge of subject matter
Quite complete understanding of questions
Clearly developed arguments, with few original arguments
Quite complete understanding of multi-cultural business contexts
Adequate use of evidence
Adequate efficacy of applied analysis
Originality and critical thinking are present, but limited
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter
Basic understanding of questions with some inadequacies
Developed arguments, without original arguments
Basic understanding of multi-cultural business contexts
Basic use of evidence with some inadequacies
Basic applied analysis with some inadequacies and without original and critical argumentations
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited
Partial understanding of multi-cultural business contexts
Partial use of evidence
Applied analysis is framed, but limited
Argumentation is present, but limited
0-17
Unsatisfactory quality showing that learning outcomes are not achieved
Absent or poor knowledge of subject matter
Absent understanding of questions
Argumentation is absent
Absent or poor understanding of multi-cultural business contexts
Absent or wrong use of evidence
Absent or wrong applied analysis
Argumentation is absent

Required readings
Valacich, Joseph, S. and Christoph Schneider. Information Systems Today: Managing in the Digital World, Global Edition. (9th edition). Pearson International Content, 2022. Buy from VP
https://www.pearson.com/en-gb/subject-catalog/p/information-systems-today-managing-in-the-digital-world-global-edition/P200000007253/9781292438153?utm_source=copystudentlink&utm_medium=referral&utm_campaign=XXLEGP0423PCOM
Recommended journals
Behavior and Information Technology; Business and Information Systems Engineering; Business Information Systems Review; Communications of the ACM Ethics and Information Technology; European Journal of Information Systems; Information & Management; Information and Organization; Information Systems Management; Information Systems Research; Information Technology and People; International Journal of Business Information Systems; International Journal of Information Management; Journal of Global Information Management; Management Information Systems Quarterly; Scandinavian Journal of Information Systems.
In case you want to deepen your knowledge
1. Blockchain Technology for Institutions
Iansiti, Marco, and Karim R. Lakhani. “The Truth About Blockchain.” Harvard Business Review 95, no. 1 (January–February 2017): 118–127.
De Filippi, Primavera, and Aaron Wright. Blockchain and the Law: The Rule of Code. Cambridge, MA: Harvard University Press, 2018.
Tan, Evrim, Safak Onur Yilmaz, and Jeremy Weijie. “Blockchain Governance in the Public Sector: A Conceptual Framework for Public Management.” Government Information Quarterly 38, no. 4 (2021): 101625.
Batubara, F. R., Jolien Ubacht, and Marijn Janssen. “Challenges of Blockchain Technology Adoption for e-Government: A Systematic Literature Review.” Proceedings of the 19th Annual International Conference on Digital Government Research, 2018.
Ølnes, Svein, Jolien Ubacht, and Marijn Janssen. “Blockchain in Government: Benefits and Implications of Distributed Ledger Technology for Information Sharing.” Government Information Quarterly 34, no. 3 (2017): 355–364.
Allessie, David, Maciej Sobolewski, and Lorenzino Vaccari. Blockchain for Digital Government. Luxembourg: Publications Office of the European Union, 2019.
Ølnes, Svein. “Beyond Bitcoin: Enabling Smart Government Using Blockchain Technology.” International Conference on Electronic Government, 2016.
Casino, Fran, Thomas K. Dasaklis, and Constantinos Patsakis. “A Systematic Literature Review of Blockchain-Based Applications: Current Status, Classification and Open Issues.” Telematics and Informatics 36 (2019): 55–81.
2. Central Bank Digital Currencies — CBDCs
Bank for International Settlements. Central Bank Digital Currencies: Foundational Principles and Core Features. Basel: BIS, 2020.
Auer, Raphael, and Rainer Böhme. “The Technology of Retail Central Bank Digital Currency.” BIS Quarterly Review, March 2020.
Agur, Itai, Anil Ari, and Giovanni Dell’Ariccia. “Designing Central Bank Digital Currencies.” IMF Working Paper WP/19/252. Washington, DC: International Monetary Fund, 2019.
Bindseil, Ulrich. “Tiered CBDC and the Financial System.” ECB Working Paper Series No. 2351. Frankfurt: European Central Bank, 2020.
Kiff, John, Jihad Alwazir, Sonja Davidovic, Aquiles Farias, Ashraf Khan, Tanai Khiaonarong, Majid Malaika, Hunter Monroe, Nobu Sugimoto, Hervé Tourpe, and Peter Zhou. “A Survey of Research on Retail Central Bank Digital Currency.” IMF Working Paper WP/20/104. Washington, DC: International Monetary Fund, 2020.
Auer, Raphael, Giulio Cornelli, and Jon Frost. “Rise of the Central Bank Digital Currencies: Drivers, Approaches and Technologies.” BIS Working Papers No. 880. Basel: Bank for International Settlements, 2020.
Mancini-Griffoli, Tommaso, Maria Soledad Martinez Peria, Itai Agur, Anil Ari, John Kiff, Adina Popescu, and Celine Rochon. Casting Light on Central Bank Digital Currency. IMF Staff Discussion Note SDN/18/08. Washington, DC: International Monetary Fund, 2018.
International Monetary Fund. “Central Bank Digital Currency: Progress and Further Considerations.” IMF Policy Paper, 2024.
3. AI for Institutions, Public Administration, and Governance
de Sousa, Weslei Gomes, Eduardo Rodrigues Pereira de Melo, Paulo Henrique de Souza Bermejo, Rafael Araújo Sousa Farias, and Adalmir Oliveira Gomes. “How and Where Is Artificial Intelligence in the Public Sector Going? A Literature Review and Research Agenda.” Government Information Quarterly 36, no. 4 (2019): 101392.
Wirtz, Bernd W., Jan C. Weyerer, and Carolin Geyer. “Artificial Intelligence and the Public Sector: Applications and Challenges.” International Journal of Public Administration 42, no. 7 (2019): 596–615.
Sun, Tara Qian, and Rony Medaglia. “Mapping the Challenges of Artificial Intelligence in the Public Sector: Evidence from Public Healthcare.” Government Information Quarterly 36, no. 2 (2019): 368–383.
Zuiderwijk, Anneke, Yu-Che Chen, and Fadi Salem. “Implications of the Use of Artificial Intelligence in Public Governance: A Systematic Literature Review and a Research Agenda.” Government Information Quarterly 38, no. 3 (2021): 101577.
Veale, Michael, and Irina Brass. “Administration by Algorithm? Public Management Meets Public Sector Machine Learning.” In Algorithmic Regulation, edited by Karen Yeung and Martin Lodge. Oxford: Oxford University Press, 2019.
Grimmelikhuijsen, Stephan, and Albert Meijer. “Legitimacy of Algorithmic Decision-Making in the Public Sector.” Government Information Quarterly 39, no. 2 (2022).
OECD. G7 Toolkit for Artificial Intelligence in the Public Sector. Paris: OECD Publishing, 2024.
OECD. Governing with Artificial Intelligence: The State of Play and Way Forward. Paris: OECD Publishing, 2025.
4. Cross-Cutting Institutional Governance, Risk, and Political Economy
Zwitter, Andrej, and Jilles Hazenberg. “Decentralized Network Governance: Blockchain Technology and the Future of Regulation.” Frontiers in Blockchain 3 (2020).
Yeung, Karen. “Algorithmic Regulation: A Critical Interrogation.” Regulation & Governance 12, no. 4 (2018): 505–523.
Floridi, Luciano, and Josh Cowls. “A Unified Framework of Five Principles for AI in Society.” Harvard Data Science Review 1, no. 1 (2019).
Schär, Fabian. “Decentralized Finance: On Blockchain- and Smart Contract-Based Financial Markets.” Federal Reserve Bank of St. Louis Review 103, no. 2 (2021): 153–174.
Zetzsche, Dirk A., Douglas W. Arner, and Ross P. Buckley. “Decentralized Finance.” Journal of Financial Regulation 6, no. 2 (2020): 172–203.
Allen, Hilary J. “Driverless Finance.” Harvard Business Law Review 10, no. 1 (2020): 157–198.

The course aims to provide students with an understanding of the principles and practices of marketing and corporate communications in the context of digital transformation.
The first part of the course focuses on corporate communication, with particular attention to communication-based intangible assets. It examines the role of social conversation, explores green values as a source of competitive advantage for corporate image and reputation, and introduces environmental sustainability and circular economy models. Best practices and case histories in green marketing and environmental communication will also be analyzed.
The second part of the course covers the principles and practices of integrated marketing communications (IMC) in international contexts. Specifically, it focuses on promotional mix tools, the development and presentation of an IMC plan, digital and social media marketing metrics, the analysis of international markets, and the adaptation of marketing communications across different international markets.
At the end of the course, students will be able to:
identify and interpret multidisciplinary theoretical and conceptual foundations, including digitalization, helpful to develop a critical understanding of corporate communication and integrated marketing communications as strategic assets (CILO 1.1 - knowledge);
understand how corporate communication interacts with ethical and profit decision making (CILO 1.2 - knowledge);
learn the main promotional mix tools of integrated marketing communications in the context of digital transformation (CILO 1.3 knowledge);
generate actionable marketing communication insights from relevant data, leveraging digital tools in global and local contexts (CILO 3.1 – intellectual skill);
apply theoretical and conceptual knowledge of promotional mix tools, including digital marketing tools, to develop integrated marketing communication plans, leveraging AI to support the development of creative concepts and layouts (CILO 4.1 - practical skill);
apply theoretical and conceptual knowledge of global issues/opportunities, integrating data-driven insights into the design of integrated marketing communications plans in multicultural global and local contexts (CILO 4.2 -practical skill);
develop critical decision making by recognizing, assessing, and analyzing complex cultural environments and developing sustainable cultural solutions for a multistakeholder approach in corporate communication, also through the utilization of digital practices (CILO 5.1 - transferable skill);
operate effectively within an international multicultural team engaged in corporate communication and marketing communications practices, utilizing digital collaboration platforms to enhance teamwork, coordination, and knowledge sharing. (CILO 6.1 -transferable skill).

The program includes the following topics arising in international and multi-cultural business contexts.
Module 1
Communication-based intangible assets
Influence, Reputation, Trust as keywords in the contemporary corporate communications scenario impacted by digitalization and social conversation
Corporate communication evolution: from a top-down company monologue to the complexity of 24/7 digitalized communication between companies and stakeholders.
CEO branding as a key transformative role
Take a stand: how ethical purpose can change the corporate dialogue with stakeholders.
Sustainability communication and its evolution in the reputation economy. Best and worst practices in an environment of hyper-digital media exposure.
An effective approach to ethical stakeholders. Green consumers: mainstream or niche?
Module 2
Integrated Marketing Communications
Promotional mix tools
Digital marketing tools
Metrics in digital and social media marketing
Development and presentation of an IMC Plan
International Market Analysis
Country culture and Hofstede's model
Globalization and glocalization
Standardization and adaption in international contexts.
This course is designed to be highly interactive. Students are expected to contribute actively to class discussions and to the gradual development of concepts through role playing, case study analysis, essay presentations, and group discussions.
Business communication experts from companies and communication agencies will be invited as guest speakers to share their perspectives on current challenges in corporate communication and marketing communications.

Students can choose between a multiple assesssment route and a single assessment route.
Multiple assessment route
The exam will consist of four parts:

• a midterm exam on module 1 (theoretical open-ended questions): 30% of the final grade;
  action learning through a group assignment on module 1 (expected output: corporate communication strategy plan): 20% of the final grade;
  action learning through a group assignment on module 2 (expected output: integrated marketing communications plan): 20% of the final grade;
  a final written exam (theoretical open-ended questions) on module 2: 30% of the final grade.
  The four parts are mandatory and students must achieve a PASS (i.e. a mimum of 18 points) in each part. Students who do not pass the multiple assessment route are evaluated according to the single assessment route.
  For the multiple assessment route, attendance is mandatory for at least 75% of the scheduled in-class activities (for each module). Attendance is mandatory for briefing sessions and individual and team presentations, and will be recorded during class sessions through the Blackboard platform.
  Single assessment route
  Students will be assessed through:
  a written test based on theoretical open-ended questions covering all the course materials uploaded in Blackboard and the required readings of Modules 1 and 2: 60% of the final grade;
  the submission of an individual assignment (expected output: sustanability communication strategy): 20% of the final grade.
  the submission of an individual assignment (expected output: integrated marketing communications plan): 20% of the final grade.
  Students must achieve a pass (i.e. a mimum of 18 points) in each part. Students can take the written exam in one of the exam dates scheduled during the academic year. The individual assignments remain valid up to and including the September 2027 exam session.
  Students’ performance will be assessed according to the grading criteria published on Blackboard. In this context, effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product).

Required readings
Cornelissen, J. P., Corporate communication: A guide to theory and practice, SAGE, Londra, 7th edition, 2023. Buy from VP
J. Grant, The green marketing manifesto, John Wiley&Sons, NJ, 2007.
L. Hu. International Digital Marketing in China: Regional characteristics and global challenges. Palgrave Macmillan, Cham, 2020.
S. Vitulli, G. Ghini, CEO branding in the global reputation economy, Bocconi University Press, Milano, 2024 Acquista da VP
A list of further mandatory readings on marketing communications, corporate communication, country culture, sustainability communication will be indicated in Blackboard.
Lecture slides, guest lecture content, essays and further material uploaded on Blackboard are also required readings.

The course points out the evolution that management control systems have shown in the last two decades. The main pitfalls of a traditional approach to performance measurement (PM) are analyzed as well as the characteristics of a new generation of tools for measuring and managing organizational performance. Students therefore gain a good understanding about the major issues to be addressed in the development of effective PM systems. The focus is primarily driven on the techniques of activity-based management (ABM) and balanced scorecard (BSC).
Upon successful completion of the course, students will be able to:
identify and interpret the theoretical and conceptual foundations helpful to understand PM issues in local and global contexts, including the adoption of economic, environmental and social sustainability measures (CILO 1.1 - knowledge);
develop theoretical and conceptual knowledge on the design and implementation of PM systems in multi-cultural organizational settings (CILO 2.1 - knowledge);
analyze data and information on organizational performance and take corrective/improvement actions (CILO 3.1 - intellectual skill);
effectively use PM tools and techniques to influence people’s behaviors and support strategy execution in complex multi-cultural organizational settings (CILO 4.1 - practical skill);
develop critical skills related to the use of PM information in sustainable decision making and change management processes in complex organizations (CILO 5.1 - transferable skill);
operate effectively in multicultural teams involved in the design and implementation of PM systems (CILO 6.1 - transferable skill).

The course provides basics in PM. The main topics, which will be handled, are:
the major flaws of a traditional approach to PM, the so-called PM revolution, how to measure corporate environmental and sustainability performance;
Activity Based Management: the activity-based revolution, how to implement an activity-based PM system, how to use activity-based information (operational perspective), how to use activity-based information (strategic perspective);
Balanced Scorecard: the balanced scorecard revolution, how to design and implement a balanced scorecard PM system, how to lead change and create a strategy-focused organization through the balanced scorecard.
Teaching methods will stimulate learning by doing and will require students with a full participation. Case histories and business cases will be frequently discussed. Attending students will be involved in a multi-player simulation, experiencing the benefits and challenges of using a scorecard to implement strategic initiatives and monitor firm performance.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
Students are assessed by: a) an intermediate written test (accounting for 40% of the final grade); b) a final written test (accounting for 40% of the final grade); c) the performance achieved by each group in the multi-player simulation (accounting for 20% of the final grade). The final grade achieved may be improved by class participation allowing students to receive an overall score ranging from -1 to +2.
Both the intermediate and the final written tests consist of 2 open questions and 1 short business case (weights: 32% for each open question and 36% for the short business case). The tests are scheduled as follows: the intermediate written test at the end of module 1, and the last one at the end of module 2. Only students passing the intermediate test can take the final test.
The multi-player simulation is designed to be played by teams of small groups and enable attending students to experience the benefits and challenges of using a scorecard to implement strategic initiatives and monitor firm performance. At the completion of the eight game turns, an investment firm buys the equity of the company. Accordingly, each team of students is evaluated on their ability to maximize the buy-out transaction value.
For a PASS in the multiple assessment, the following conditions must be met: (i) a mininum attendance of 75% of the course is mandatory; (ii) the two written tests and the simulation are mandatory and must be a PASS (i.e., each grade must be greater or equal to 18) Students who do not pass the multiple assessment are evaluated according to the single assessment.
Single assessment route
The exam consists of a written test, composed by 2 open questions and 1 short business case on the whole program of the course (weights: 32% for each open question and 36% for each short business case). Even though attendance is not mandatory for a PASS in the single assessment, it is strongly recommended.
Each team of students taking the group similuation is evaluated on their ability to maximize the buy-out transaction value. In this context, effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product).
The student's preparation is evaluated according to the following grading scale applied to written tests:
Grade
Common description
Open questions
Business cases
30- 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects
Full understanding of multi-cultural business contexts
Strong and fully rigourous use of evidence
Excellent efficacy of applied analysis, with many original and critical arguments
27-29
Very good quality showing that learning outcomes are surpassed
Good breadth and depth of knowledge of subject matter
Very good understanding of questions
Clearly developed arguments, with some original arguments and connections between knowledge objects
Very good understanding of multi-cultural business contexts
Very good use of evidence
Very good efficacy of applied analysis, with some original and critical arguments
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Adequate breadth of knowledge of subject matter
Quite complete understanding of questions
Clearly developed arguments, with few original arguments
Quite complete understanding of multi-cultural business contexts
Adequate use of evidence
Adequate efficacy of applied analysis
Originality and critical thinking are present, but limited
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter
Basic understanding of questions with some inadequacies
Developed arguments, without original arguments
Basic understanding of multi-cultural business contexts
Basic use of evidence with some inadequacies
Basic applied analysis with some inadequacies and without original and critical argumentations
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited
Partial understanding of multi-cultural business contexts
Partial use of evidence
Applied analysis is framed, but limited
Argumentation is present, but limited
0-17
Unsatisfactory quality showing that learning outcomes are not achieved
Absent or poor knowledge of subject matter
Absent understanding of questions
Argumentation is absent
Absent or poor understanding of multi-cultural business contexts
Absent or wrong use of evidence
Absent or wrong applied analysis
Argumentation is absent
The student's class participation is evaluated according to the following grading scale:
Score
Description
+2
Excellent breadth and depth of interventions, with many and very well formulated arguments regarding the theoretical and conceptual foundations of the discussed topics
Excellent discussion of empirical evidence, with many original and critical arguments regarding case studies
+1
Good breadth and depth of interventions, with some well formulated arguments regarding the theoretical and conceptual foundations of the discussed topics
Good discussion of empirical evidence, with some original and critical arguments regarding case studies
0
Absence of well formulated arguments regarding the theoretical and conceptual foundations of the discussed topics
Absence of original and critical arguments regarding the discussion of case studies
-1
Meaningless interventions regarding the theoretical and conceptual foundations of the discussed topics
Meaningless arguments regarding the discussion of case studies

Required readings
S. Baraldi, What’s left for the PM revolution?, McGraw-Hill, 2017 Buy from VP
Recommended journals
Accounting, Organizations and Society. European Accounting Review. Advances in Management Accounting. California Management Review. Harvard Business Review. International Journal of Productivity and Performance Management. International Journal of Operations and Production Management. International Journal of Productivity and Performance Management. Journal of Accounting and Organizational Change. Journal of Applied Management Accounting Research. Journal of Cost Management. Journal of Management Accounting Research. Journal of Management Control. Journal of Organizational Change Management. Journal of Strategic Performance Measurement. Long Range Planning. Management Accounting Quarterly. Management Accounting Research. Management Control. Management Decision. Measuring Business Excellence. Production Planning & Control. Qualitative Research in Accounting & Management.

The objective of the course is to provide the conceptual tools to understand (i) the institutional setup and present governance of the European Union; (ii) the main steps and current features of the European economic integration -- such as the Single Market – and the microeconomic and structural policies established in this field; (iii) the main steps and current features of the European monetary integration – with the establishment of the Economic and Monetary Union (EMU) and the rationale and working of the common monetary policy; (iv) the main fiscal policy issues and challenges facing the EMU in the aftermath of the Great Financial Crisis, including the shocks from the pandemic and the War in Ukraine.
At the end of the course students will be able to:

• understand the governance of the European Union, knowing the history and current role of the main governing bodies and of the decision-making process (CILO 1.1 - knowledge);
• analyze, interpret and discuss conceptual issues and empirical evidence to evaluate the strengths and weaknesses of the European response to past, present and forthcoming crisis periods (CILO 1.3 - intellectual skill);
• develop the ability of critical decision making by assessing the micro and macro-economic consequences of structural, fiscal and monetary policies adopted by European institutions (CILO 5.1 - transferable skill).

Module I: Prof. Domenico Delli Gatti
The history of European integration from the treaty of Rome to Brexit.
Governing bodies and decision-making process in the European Union: centralized vs decentralized tasks.
The essentials of foreign trade liberalization: the rationale of a customs union and of a Single market.
The pro-competitive effect of market integration: the increase in the number of firms and the reduction of mark-ups.
Some basic open economy macroeconomics.
Module II: Prof. Luca Felice Mezzomo
Definition and rationale of a monetary/currency union.
The common monetary policy and the European Central Bank: design and performance.
The European Sovereign Debt crisis, Covid-19 and the inflation spike of 2022-23: new developments concerning monetary policy.
Module III: Prof. Lucio Pench
The politico-economic rationale for policy coordination in economic and monetary union of fiscal sovereigns: the case for fiscal rules.
The evolution of the EU fiscal framework: the Maastricht economic constitution and the Stability and Growth Pact.
EU economic and fiscal governance in the aftermath of the European Sovereign Debt crisis and the Covid-19 crisis and the reform of the Stability and Growth Pact.
Lectures’ slides and readings will be made available beforehand to stimulate students’ participation and active interaction. Day to day cases (using newspapers) will be discussed and analyzed with the class, allowing to contestualize the course.

Students can choose between a “multiple assessment route” and a “single assessment route”.
Multiple assessment route
Students are evaluated by means of two interim written tests, one at the end of module I (first test) and one at the end of modules II and III (second test). Each test consists an open question and an exercise. The final mark of each test will be the weighted mean of the marks reported for the question and the exercise (with equal weights: 50% for the open question and 50% for the exercise). The mean will be rounded to the first integer.
For a PASS in the multiple assessment route, the following conditions must be met: (i) both tests are mandatory and can only be taken in the dates set at the end of each module; (ii) the mark of each test must be greater than or equal to 18/30. The final mark will be the weighted mean of the marks reported for the first and the second tests (with equal weights: 50% for the first test and 50% for the second test). The mean will be rounded to the first integer.
Students who do not pass the mutiple assessment route are evaluated according to the single assessment route. Even though attendance is not mandatory for a PASS in the multiple assessment route, it is strongly recommended.
Single assessment route
Students are required to take a written exam during the session dates assigned to this course. The exam will be administered at one time for all the modules and it consists of two parts- Part 1: one question and one exercise for module I. Part 2: one question and one exercise for modules II and III. The mark for each part will be the weighted mean of the marks reported for the question and the exercise (with equal weights: 50% for the open question and 50% for the exercise).
For a PASS in the single assessment route at least 18/30 must be attained in each of the two modules.
The student's preparation is evaluated according to the following grading scale:
Grade
Commmon description
Open questions
Exercises
30 - 30 cum laude
Excellent quality, showing full achievement of learning outcomes beyond normal expectations.
Full understanding of question.
Original and very well formulated arguments, strongly connecting different knowledge objects.
Excellent breadth and depth of knowledge of subject matter, including the mathematical structure of the model deemed appropriate to answer the question.
Full understanding of tasks to be carried out in the exercise.
Original and very well formulated arguments. Excellent breadth and depth of knowledge, including the mathematical structure of the model needed to carry out the tasks.
Strong and fully rigourous use of evidence. Excellent efficacy of applied analysis, with many original and critical arguments.
27-29
Very good quality, showing that learning outcomes are surpassed.
Very good understanding of questions. Well formulated arguments, possibly connecting different knowledge objects.
Good breadth and depth of knowledge of subject matter including the mathematical structure of the model deemed appropriate to answer the question
Very good understanding of tasks to be carried out in the exercise.
Well formulated arguments. Good breadth and depth of knowledge, including the mathematical structure of the model needed to carry out the tasks. Very good use of evidence. Very good efficacy of applied analysis.
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Adequate breadth of knowledge of subject matter.
Quite complete understanding of questions.
Clearly developed arguments, with few original arguments.
Quite complete understanding of tasksAdequate use of evidence.
Adequate efficacy of applied analysisOriginality and critical thinking are present, but limited.
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter.
Basic understanding of questions with some inadequacies.
Developed arguments, without original arguments.
Basic understanding of tasks.
Basic use of evidence with some inadequacies.
Basic applied analysis with some inadequacies and without original and critical argumentations.
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited
Partial understanding of tasks.
Partial use of evidence.
Applied analysis is framed, but limited.
Argumentation is present, but limited.
0-17
Unsatisfactory quality showing that learning outcomes are not achieved.
Absent or poor knowledge of subject matter.
Absent understanding of questions
Argumentation is absent.
Absent or poor understanding of tasks.
Absent or wrong use of evidence.
Absent or wrong applied analysis
Argumentation is absent.

Required readings
R. Baldwin-C.Wyplosz, The Economics of European Integration, McGraw-Hill, 6th edition 2020, chapters 1,2,3,4,5,6,11,13,14. Buy from VP
P. De Grauwe, Economics of Monetary Union, Oxford University Press, thirtheen edition 2020, chapters 1,2,3,4,7,8,9,10.

Companies, whose success depends on their ability to adapt to change and compete, are constantly in need of resources for effective project management.
The course aims to explore the key concepts and the main methodologies of Project Management.
At the end of the course students will be able to:
understand the theoretical and conceptual foundations helpful to make ethical and sustainable strategic decisions concerning project selection and initiation that address business and managerial problems in local and global contexts (CILO 1.1 - knowledge);
understand how cultural dimensions and digitalization may impact project management (CILO 1.2 - knowledge);
develop theoretical and conceptual knowledge on the design and use of both traditional and agile project management methodologies in the context of digital transformation (CILO 2.1 - knowledge);
analyze, interpret, and evaluate well-established tools and techniques and leverage them to plan scope, schedule, resources and budget for a project (CILO 3.1 - intellectual skill);
develop as a team manager a medium-to-long-term plan including digital marketing tools, that embeds project control, audit, and termination (CILO 4.1 - practical skill);
develop critical decision making by recognizing, assessing, and analyzing projects in complex environments and developing sustainable solutions through project plans and charters, also through the utilization of digital practices (CILO 5.1 - transferable skill);
operate effectively within an international multicultural team, utilizing digital collaboration platforms to enhance teamwork, coordination, and knowledge sharing. (CILO 6.1 - transferable skill).

The course will explore the key concepts and the main international methodologies used in Project Management; in particular, it will introduce the Standard PMI Institute, some concepts of the Prince2 methodology (created by Axelos), and the emerging Lean and Agile Project Management practices, with a focus on Kanban, Scrum and Scrumban.
Furthermore, the course aims to offer practical tools, providing students with a framework for the use of the different techniques presented in class, and combining traditional (predictive) methodologies with iterative and incremental ones (also known as adaptive methodologies); this will help them choose the most appropriate approach, considering the context and the objectives of the project.
The first part of the course will explore the typical ‘Life Cycle’ of a project based on traditional (or predictive) methodologies, as well as the concepts and the techniques that characterise each phase of the project life cycle.
The course will then focus on ‘lean’ and ‘agile’ (adaptive) methodologies, explaining how to apply them correctly to provide effective and efficient project management, even in complex situations. In particular, it will introduce the Kanban framework (lean), the Scrum framework (agile), and the Scrumban framework (sum of the best practices of the previous ones).
The second part of the course, instead, will introduce the key concepts of project management and its most relevant organizational aspects.
The course will also cover more advanced approaches, based on hybrid methodologies and the use of artificial intelligence. In addition, the course will analyze a case study using the methodologies and techniques explained in class, thereby providing students with a practical application of the theories they have learned.
Teaching methods include formal lectures and interactive sessions with analysis and discussion of real case studies on the topics covered during the course, as well as exercises. Students will be expected to study all assigned materials and to complete specific assignments in class. Teaching supporting materials include slides, case studies, and exercises.
The instructor will normally devote a part of each class period to the exercises and discussions on selected items from the course materials. The objective of these discussions is to clarify and elaborate on certain items because of their special relevance or difficulty.
Students are required to participate actively to the lessons. In particular, students are encouraged to participate in discussions, ask questions, and request that particular points be explained in more detail if they remain confused or uncertain about specific items.
In addition, a project plan will be developed by workgroups during the lessons. The students will also benefit from external speakers from the business world making speeches during classes.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
Grading will be based on teamwork and written tests.
More specifically, students will be asked to develop a project plan in instructor-assigned small teams (totalling 50% of the whole evaluation).
The final will be completed by two written tests (which total the other 50% of the evaluation) with questions from the first part of the course (module 1) and from the second part of the course (module 2).
Students may enroll once in exam sessions according to the “multiple assessment route”. In the event of either failure or rejection of the grade, students must enroll again under the “single assessment route”.
The overall grade will be composed of the following four components:
40% project assignment output - students will get a collective mark on action learning;
10% discussion of the project assignment;
25% midterm test on module 1;
25% final test on module 2 to be performed in the exam standard session.
The project assignment is useful to
address the students' overall understanding of project initiation, planning, management and control, and their ability to translate the theoretical background into practical implementation, while utilizing critical thinking methods
provide the main tools to leverage projects to implement the strategy of the company and manage conflicts over the life of the project.
For a PASS in the multiple assessment route, the following conditions must be met: (i) each component of the assessment path is mandatory; (ii) the grade received in both the first module and the second module must greater than or equal to 18.
Even though attendance is not mandatory for a PASS in the multiple assessment route, it is strongly recommended.
Single assessment route
The exam will be a test composed by:
A written test, to be taken individually (50% of the final mark);
An addendum to the written test, consisting in the development of a case study (50% of the final mark).
Even though attendance is not mandatory for a PASS in the single assessment route, attendance is strongly recommended.
Students who will not complete the multiple assessment route for either the first module or the second module may take the single assessment route once for just one module if they complete the multiple assessment route for the other module.
Each exam session students will then have four options the first time they make the final exam:
final test for module 2 according to the “multiple assessment route”
final test for module 2 according to the “multiple assessment route” and single assessment route for module 1 if they do not complete the “multiple assessment route” for module 1
single assessment route for just module 2 if they complete the multiple assessment route for module 1 and do not take part to the discussion of the project work for module 2
single assessment route for both module 1 and module 2
Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product).
The student's preparation is evaluated according to the following grading scale:
Grade
Commmon description
Exam
Project assignment / Case Study
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects
Exceptional understanding and application of project management concepts. Insightful analysis of ethical, strategic, sustainability, cultural, and digital issues. Excellent use of traditional and agile methodologies. Comprehensive, realistic project plans with strong critical thinking and well-supported recommendations. Outstanding teamwork and digital collaboration considerations.
27-29
Very good quality showing that learning outcomes are surpassed
Good breadth and depth of knowledge of subject matter
Very good understanding of questions
Clearly developed arguments, with some original arguments and connections between knowledge objects
Excellent understanding and application of key concepts. Strong analysis of project challenges and context. Effective use of methodologies and project planning tools. Well-supported recommendations with clear evidence of critical thinking. Strong consideration of teamwork and collaboration.
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Adequate breadth of knowledge of subject matter
Quite complete understanding of questions
Clearly developed arguments, with few original arguments
Good understanding of project management concepts and methodologies. Sound analysis and project planning. Recommendations are appropriate and supported. Demonstrates good critical thinking and awareness of cultural and digital factors.
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter
Basic understanding of questions with some inadequacies
Developed arguments, without original arguments
Satisfactory understanding of core concepts. Adequate analysis and project planning with some weaknesses in depth or integration. Recommendations are generally relevant but lack strong justification.
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited
Limited understanding and application of project management concepts. Analysis and planning are basic and contain notable gaps. Recommendations are weakly supported. Limited evidence of critical evaluation and teamwork considerations.
0-17
Unsatisfactory quality showing that learning outcomes are not achieved
Absent or poor knowledge of subject matter
Absent understanding of questions
Argumentation is absent
Insufficient understanding of project management concepts. Analysis, planning, and recommendations are incomplete, inaccurate, or missing. Learning outcomes are not adequately demonstrated.

Textbooks for all the students (regardless of class attendance):
Required readings
Pearson (2025) - "THE Guide to Successful Project Management” – F. Momola, F. Rajola. Buy from VP
Additional readings
Project Management Institute (2021) - "A Guide to the Project Management Body of Knowledge (PMBOK Guide)" (7th Edition) - Project Management Institute.
Further material (slides, and research papers on the topics explained in class) will be made available on Blackboard.

The course will introduce students to the basic principles and recent developments in the field of public administration and management. The public sector is a crucial component of the economy and public management has changed enormously in recent years as a result of reform initiatives in many countries. Therefore, the course will cover the fundamentals of public administration and management. It will then examine both empirical developments and new theories of public management from an international perspective.
By the end of the course, students will:
develop a deeper understanding of public administration and management as a field of study, the distinctive nature of public-sector organisations and their environments, and the role these organisations can play in fostering ethical and sustainable decision-making (CILO 1.1 - knowledge);
be knowledgeable about the fundamentals of public administration and management, with specific respect to the foundations, features, and limitations of both Traditional Public Administration and New Public Management (CILO 1.2 - knowledge);
be knowledgeable about the recent theoretical and empirical developments that have emerged as a reaction to the limitations of New Public Management (CILO 1.3 - knowledge);
develop theoretical and conceptual knowledge on the design and use of managerial practices and techniques to drive ethical and sustainable behaviours and decision making in public-sector organisations, also leveraging digitalisation (CILO 2.1 - knowledge);
apply theoretical and conceptual knowledge to the effective design and implementation of managerial solutions in public-sector organisations, taking into account the peculiar goals and features of such organisations as well as the peculiarities of multicultural global and local contexts (CILO 4.1 - practical skill);
develop critical decision making by identifying public management issues, outlining sustainable responses, and identifying the main advantages and disadvantages of each potential response, also employing AI tools to enhance analysis and judgement (CILO 5.1 - transferable skill).

Theories and logics
Taxonomy of public sector activities and organisations.
The traditional model of public administration.
The role of government and the nature of public management.
Public and private management: Definitions and implications. The underlying assumptions about the ethics and motivations of politicians and bureaucrats.
New Public Management: privatisation, decentralisation, managerialism.
Post NPM: New contractualism, Public governance, Public value, Whole of government, Neo-Weberianism, Public Management.
Developments and emerging practices

• Introduction to policy analysis and program evaluation.
• Strategic management.
• Organisational design.
• Financial management and accounting.
• Management control and performance management.
• Personnel management.
  Conclusions: Accountability in public-sector organisations
  Teaching methods include formal lectures as well as the discussion of cases and exercises. Students will be expected to study all assigned materials and to complete specific homework assignments prior to each class meeting.
  The instructor will normally devote a part of each class period to the discussion of the homework assignments and of other selected items from the course materials. The objective of these discussions is to clarify and elaborate on certain items because of their special relevance or difficulty.
  Class participation is recommended. In particular, students are encouraged to ask questions and to request that particular points be explained in more detail if they remain confused or uncertain about specific issues.

Students can choose between a multiple assessment route and a single assessment ruote. In both cases, grading will be based on written tests.
Students who choose the multiple assessment route are expected to take a mid-term test and an end-term test, respectively covering the first and the second parts of the course and each counting for 50% against the final grade. The mid-term test will be offered only once. The end-term test will be offered twice, but it can only be taken once. Students who (i) choose not to take these tests, (ii) fail at least one of these tests, or (iii) choose to retake the exam despite passing both tests, will be offered a written comprehensive final exam (single assessment route) according to the official exam schedule.
All exams (be they mid-term, end-term, or comprehensive) are composed of essay questions (75%) and exercises (25%).
The final grade achieved in the written exam(s) may be improved by voluntarily taking the lead in the preparation and discussion of homework assignments, consisting of case studies and exercises. These assignments are intended to improve the students’ ability to identify public management issues, outline and assess possible responses, and effectively design and implement managerial solutions in public-sector organisations. Volunteering students will hand in a written report at least 24 hours before class; in class, they will then lead their classmates in the plenary discussion of the assignment. For this activity, these students will receive an overall score ranging from -3 to +3 depending on the quantity and quality of their work. This score will be added to the grade achieved in the written exam(s) to produce the final grade.
The student's preparation is evaluated according to following grading scale.
Grade
Commmon description
Written exams
Homework assignments
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects
Full understanding of public-sector contexts
Strong and fully rigourous use of evidence
Excellent efficacy of applied analysis, with many original and critical arguments
27-29
Very good quality showing that learning outcomes are surpassed
Very good breadth and depth of knowledge of subject matter
Very good understanding of questions
Clearly developed arguments, with some original arguments and connections between knowledge objects
Very good understanding of public-sector contexts
Very good use of evidence
Very good efficacy of applied analysis, with some original and critical arguments
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Good breadth of knowledge of subject matter
Quite complete understanding of questions
Clearly developed arguments, with few original arguments
Quite complete understanding public-sector contexts
Adequate use of evidence
Adequate efficacy of applied analysis
Originality and critical thinking are present, but limited
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter
Basic understanding of questions with some inadequacies
Developed arguments, without original arguments
Basic understanding of public-sector contexts
Basic use of evidence with some inadequacies
Basic applied analysis with some inadequacies and without original and critical argumentations
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited
Partial understanding of public-sector contexts
Partial use of evidence
Applied analysis is framed, but limited
Argumentation is present, but limited
0-17
Unsatisfactory quality showing that learning outcomes are not achieved
Absent or poor knowledge of subject matter
Absent understanding of questions
Argumentation is absent
Absent or poor understanding of public-sector contexts
Absent or wrong use of evidence
Absent or wrong applied analysis
Argumentation is absent

Required readings
Hughes, Owen E., Public management and administration: An introduction, Bloomsbury Academic, 2026 (6th ed.) – ISBNs: 9781350373426 (paperback), 9781350373457 (eBook).
Further readings and case studies that will be posted on Blackboard or will be available through library resources.
Recommended journals
Public Administration Review, Governance, Journal of Public Administration Research & Theory, Public Administration, Public Management Review, International Public Management Journal, International Review of Administrative Sciences, Financial Accountability & Management.

The course will explore the economic underpinnings of innovation and digital transformation, providing students with a comprehensive understanding of how technological change will reshape markets, institutions, and societal outcomes. In Part 1, students will be introduced to the basic concepts of innovation economics, including the role of research and development, the nature of knowledge as a public good, and the reasons behind market failures in innovation systems. Key policy instruments —such as public and private R&D funding, innovation subsidies, tax credits, and public procurement— will be analyzed through both theoretical frameworks and real-world case studies. Special attention will be given to the economics of intellectual property rights (IPR), exploring the trade-offs between static inefficiency and dynamic innovation incentives, with a focus on patent policy in digital industries and the growing challenges posed by AI-generated content. The module will also address the mechanisms of innovation diffusion, as well as the implications of competition and antitrust policies in digital markets, using cases such as Google, Microsoft, and Meta.
In Part 2, the focus will shift to the transformative economic effects of digital technologies, particularly those characterizing the third and fourth industrial revolutions, such as artificial intelligence (AI), large language models (LLMs), and other general-purpose technologies. Students will examine how these technologies will affect firm-level productivity, reshape labor markets, and contribute to growing income and regional inequalities. The module will explore empirical challenges in measuring digital innovation and will examine its effects on productivity across different sectors and organizational contexts. It will also critically engage with ongoing debates on labor displacement, the complementarity between AI and human labor, and policy responses such as universal basic income and reskilling strategies. Finally, the course will address strategic firm-level adoption of AI and related technologies, highlighting sectoral patterns, organizational barriers, and enabling factors. Throughout the course, students will be encouraged to develop policy solutions that promote inclusivity and sustainability in response to the economic challenges posed by digital transformation.
At the end of the course, students will be able to:
Understand key economic concepts related to innovation, knowledge diffusion, and intellectual property (CILO 1.1 - knowledge);
Evaluate the economic effects of digital technologies (e.g., AI, LLMs) on productivity, labor markets, and income distribution (CILO 1.2 - knowledge);
Analyze and assess innovation policy instruments from both theoretical and empirical perspectives (CILO 4.1 - practical skill);
Apply economic reasoning to design and assess strategies for inclusive digital transformation and sustainable innovation in diverse institutional settings (CILO 4.2 - practical skill);
Formulate policy responses and strategic insights related to the challenges of digital transformation (CILO 5.1 - transferable skill);
Collaborate effectively on group assignments and presentations, using digital tools to co-create and communicate solutions in multicultural teams (CILO 6.1 - transferable skill);
The Course Intended Learning Outcomes (CILOs) are aligned with the Programme Intended Learning Outcomes (PILOs) of the MSc in Management programme, particularly in the areas of disciplinary knowledge, practical analytical skills, strategic problem-solving, and collaborative competencies.

The program includes the following topics arising in international and multi-cultural business contexts.
Module 1 – Innovation, R&D, and technological change – Knowledge as a public good; market vs systemic failures – Innovation policy tools: supply- and demand-side instruments – Public/private R&D funding, subsidies, tax credits, procurement – Intellectual property: patents, copyrights, efficiency trade-offs – AI and IP challenges; patents in ICT and digital sectors – Innovation diffusion models; network effects, standards – Competition in digital markets: case studies (Google, Microsoft, Meta)
Module 2

• Nature and characteristics of technological progress in the third and fourth industrial revolutions
• The impact of digital technologies (e.g., ICT, AI, LLMs) on firm-level productivity – Empirical and methodological challenges in measuring digital innovation and its economic effects – Labor market transformation: displacement, job redesign, and human–AI complementarity – Inequality dynamics: income distribution, digital divides, and the rise of superstar firms – Public policy responses: reskilling, education reform, and universal basic income – Organizational and sectoral factors influencing the adoption of digital technologies
  This course is designed to be highly interactive, encouraging active student participation through a variety of learning formats. Students are expected to engage critically with the material, contribute to discussions, and collaborate on team-based projects to foster action learning. Class sessions will combine slide-supported lectures with case study analysis, fostering step-by-step concept development through collaborative debate and group presentations.
  In addition, guest speakers from technology firms and/or policy institutions will be invited to share insights on innovation dynamics, digital transformation, and policy challenges, offering diverse professional perspectives that complement the academic content.

Students may choose between two assessment options: the multiple assessment route and the single assessment route.
Multiple assessment route
This option consists of four components, all of which are mandatory. Students must obtain a minimum score of 18/30 in each component to pass. The components are as follows:
Classroom activities in Module 1 – 25% of the final grade
Classroom activities in Module 2 – 25% of the final grade
Final written exam on Module 1 and 2 – 50% of the final grade
Attendance is compulsory for team and individual presentations, and all exam components. Specific dates for mandatory attendance will be communicated at the beginning of the course via Blackboard.
Students who fail to meet the minimum requirements in any of the components will automatically be evaluated through the single assessment route.
Single assessment route
Students will be assessed through a written exam comprising a mix of open and closed-ended theoretical questions covering the entire course content, including all materials uploaded to Blackboard and the required readings for Modules 1 and 2.
Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product). The student's preparation is evaluated according to the following components, weights, and criteria:
Weight
Classroom activities – Module 1
25%
Critical thinking, application of theories, teamwork, communication effectiveness
Classroom activities – Module 2
25%
Critical thinking, application of theories, teamwork, communication effectiveness
Final written exam
50%
Knowledge of course materials, ability to apply economic reasoning, clarity of argumentation, critical analysis

Acemoğlu, Daron, e Simon Johnson. Power and Progress. London: Basic Books, 2023.
Agrawal, Ajay, Joshua Gans, e Avi Goldfarb. The Economics of Artificial Intelligence: An Agenda. University of Chicago Press, 2019 (selected chapters).
Manyika, James, ed. AI & Society. Dædalus, vol. 151, no. 2, Spring 2022. American Academy of Arts & Sciences (selected papers).
ARCHIBUGI, D. and FILIPPETTI A. (2015), Knowledge as Global Public Good in: ARCHIBUGI, D. and FILIPPETTI A. (eds), The Handbook of Global Science, Technology, and Innovation, Wiley-Blackwell
Brynjolfsson, Erik, e Andrew McAfee. The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies. W. W. Norton & Company, 2014.
Cunningham J.A., Link A.N. (2021) Technology and Innovation Policy: An International Perspective. Edward Elgar (selected chapters)
Frey, Carl Benedikt. The Technology Trap: Capital, Labor, and Power in the Age of Automation. Princeton University Press, 2019 (selected chapters).
Lévêque F., Ménière Y. (2004) The economics of patents and copyright, Berkeley Electronic Press (selected chapters).
Nelson, R. R. (1959). The simple economics of basic scientific research. Journal of political economy, 67(3), 297-306.
Stock, James A., e Mark W. Watson. Introduction to Econometrics. 3° edizione. Boston: Pearson College Div, 2011.
Stokes, D.E. (2011) Pasteur’s quadrant: Basic science and technological innovation, Brookings Institution Press. (ch. 3)
A complete list of mandatory readings will be provided on Blackboard. Additional required materials, including slides, reports, and essays, will also be available on the platform.

The objectives of the course are twofold. First, the course addresses the societal transformations and articulates a conceptual perspective capable to sensibilize and to problematize some actual dilemmas and concerns at work and in organizations. Students are expected to learn how world complexities and societal, political economic and ideological logics influence organizational processes and the experiences at workplace. Second, the course assumes a relational perspective and stimulates the understanding of how it is possible to inhabit the actual organizational contexts and to develop competences with respect to communication processes, group dynamics, and practical orientations to ethics, values and cultural sensitivities.
At the end of the course, students will be able to:
understand the different ideological logics that may inspire organizational and managerial responses, with regards to ethical and responsibility issues, also in the light of digitalization of work (CILO 1.1 knowledge);
understand the theoretical foundations and conceptual key-pillars of a critical work and organizational psychology in multi-cultural and digital contexts (CILO 1.2 knowledge);
problematize, identify and understand some of the actual challenges that impact on organizational workplaces and on workers in local and global context (CILO 2.1 knowledge);
analyze, interpret, and evaluate the personal positioning with respect to relational competences in multi-cultural group work (CILO 3.1 transferable skill).
observe and critically reflect on ethics, values, cultural issues and digital practices in complex organizational contexts (CILO 5.1 transferable skill);
develop a critical reflexivity for personally contributing to the development of sustainable workplaces, also through the utilization of digital practices (CILO 5.2 transferable skill);

Module 1
Societal, political-economic and ideological influences on organizations and workplaces, with an emphasis on critical reflexivity in applying work psychological constructs.
Module 2
The relational perspective at work: communication processes, group dynamics, differences integration and coexistence, cultural and digital issues impacting on the relationship between the person and the work experience.
Throughout the course a variety of teaching methods is used to encourage active learning. We combine formal and interactive teaching with projects, audiovisuals, role-plays, simulations, case histories. Blackboard online system will be intensively used for uploading the materials as well as for interacting with students.

Students can choose between a multiple assessment route and a single assessment route.
Multiple assessment route
Students are evaluated through a Project Group (weight: 50% of the total exam) and a final written exam (weight: 50% of the total exam).
Group Project will be composed by a research project based on case analysis to foster action learning; it will be illustrated during the course and instructions and guidelines will be published in Blackboard.
The final written Exam includes 4 open theoretical questions (three conceptual/theoretical questions concerning the contents developed in the first and second modules, and one individual reflection question regarding the Group Project).
For a PASS in the multiple assessment route, the following conditions must be met: (i) the mark for the group project must be greater or equal to 18; (ii) the final written test is mandatory and the received grade must be greater than or equal to 18. Students who do not pass the multiple assessment route are evaluated according to the single assessment route. Even though attendance is not mandatory for a PASS in the multiple assessment route, it is strongly recommended.
Single assessment route
The exam consists of a written test, composed by and 4 conceptual/theoretical questions and 1 practical open questions, connected to practical implications (weight: 20% per question).
Even though attendance is not mandatory for a PASS in the single assessment route, it is strongly recommended.
Effective learning by the student is assessed through a “3Ps” approach which consider individual personal and professional growth (Person), the engagement and appropriate use of Gen AI (Process) beside the quality of the outcome delivered (Product). The student's preparation is evaluated according to grading scales which are published in Blackboard.
Grade
Commmon description
Written questions
Group assigment
30 - 30 cum laude
Excellent quality showing a full achievement of learning outcomes beyond normal expectations.
Excellent breadth and depth of knowledge of subject matter
Full understanding of questions
Original and very well formulated arguments, strongly connecting different knowledge objects
Highly original and innovative case.
Excellent understanding and mastery of theoretical concepts related to neoliberalism, communication, organizational cultures, and managerial ethics.
Excellent critical thinking.
Outstanding clarity in identifying and discussing the key contributions emerging from the case.
Excellent communication skills.
Excellent analysis of group functioning.
27-29
Very good quality showing that learning outcomes are surpassed
Good breadth and depth of knowledge of subject matter
Very good understanding of questions
Clearly developed arguments, with some original arguments and connections between knowledge objects
Very original and relevant case.
Very good understanding of theoretical concepts related to neoliberalism, communication, organizational cultures, and managerial ethics.
Very good critical thinking
Very good clarity in presenting the key contributions.
Very effective communication.
Very good analysis of group functioning.
24-26
Good quality showing that learning outcomes are achieved and to some extent surpassed
Adequate breadth of knowledge of subject matter
Quite complete understanding of questions
Clearly developed arguments, with few original arguments
Quite original and appropriate case.
Quite complete understanding of theoretical concepts related to neoliberalism, communication, organizational cultures, and managerial ethics.
Adequate critical thinking.
Adequate clarity in presenting the key contributions.
Adequate analysis of group functioning.
21-23
Basic quality with clear evidence that learning outcomes are achieved
Basic breadth of knowledge of subject matter
Basic understanding of questions with some inadequacies
Developed arguments, without original arguments
Basic originality of the case.
Basic understanding of theoretical concepts, with some inaccuracies or gaps. Basic critical thinking, with limited analytical depth and little originality.
Basic clarity in identifying the key contributions.
Basic communication.
Basic analysis of group functioning.
18-20
Sufficient quality showing that learning outcomes are being achieved
Sufficient knowledge of subject matter, even though breadth and depth of knowledge are lacking
Partial understanding of questions
Argumentation is present, but limited
Partial originality of the case.
Partial understanding of theoretical concepts, with several omissions or misunderstandings.
Limited critical thinking, with superficial analysis and weak argumentation.
Limited clarity regarding the key contributions.
Communication is understandable but lacks effectiveness.
Limited analysis of group functioning.
0-17
Unsatisfactory quality showing that learning outcomes are not achieved
Absent or poor knowledge of subject matter
Absent understanding of questions
Argumentation is absent
Absent or poor originality of the case. Absent or incorrect understanding of theoretical concepts related to neoliberalism, communication, organizational cultures, and managerial ethics.
Absent critical thinking.
Communication is unclear or ineffective. Absent or inadequate analysis of group functioning.

Required readings
Bal, P. M., & Dóci, E. (2018). Neoliberal ideology in work and organizational psychology. European Journal of Work and Organizational Psychology, 27(5), 536-548.
Tweedie, D., Wild, D., Rhodes, C., & Martinov‐Bennie, N. (2019). How does performance management affect workers? Beyond human resource management and its critique. International Journal of Management Reviews, 21(1), 76-96.
Cunliffe (2021) A Very Short, Fairly Interesting and Reasonably Cheap Book about Management. SAGE Buy from VP
Gorli, M., Piria, M., & Corvino, C. (2024). Embracing differences in organizations:‘differences work’as a new theoretical perspective. Culture and Organization, 30(6), 588-601.
Every material on blackboard (included the power point presentations, documents and further
material) are part of the required readings to sustain the exam.
Students participating in the group assignment will read in advance some of the texts included
in the required reading list and present them in class at midterm. In this case, the readings
already covered in the group work will not be required again during the final exam. More
precisely, chapters 2, 4, 5 (Cunliffe book) + Bal, P. M., & Dóci, E. (2018) Neoliberal ideology
in work and organizational psychology) will not be part of the written completion exam
(50%).