Economia e gestione delle banche e delle imprese di assicurazione - ENG

ECONOMICS AND MANAGEMENT OF BANKS AND INSURANCE COMPANIES

Prof. Gian Marco Chiesi
Prof. Mario Valletta
Prof. Paola Zocchi

Course Code: E0376
Subject code: SECS–P/11
12 ECTS – 96 hours
Location: Novara


Educational aims

This course consists of two parts:
-    the first part (48 teaching hours in the first semester) is focused on banks;
-    the second part (48 teaching hours in the second semester) is focused on insurance companies.

The first part is aimed at analyzing the role and the functions performed by banks in the financial system. Furthermore, in this part, the course will provide the knowledges required to understand the operating and organizational features of bank management with special regard to: fund-raising and lending policies, the supply of banking and financial services to different segments of customers (i.e. retail, private and corporate clients), the management of the main types of risks to which banks are exposed.
The second part of the course is aimed at analyzing the role and the functions performed by insurance companies in the financial system. Furthermore, in this part, the course will develop the knowledges required to understand: the functioning of the insurance mechanism, the economic and technical characteristics of insurance contracts and individual retirement plans, the operating and organizational features of insurance processes, the characteristics of different channels for the supply  of insurance products.  


Content of the course

This course consists of two parts.

Part 1 – Economics and management of banks (Prof. M. Valletta, 2 ECTS, and Prof. G. M. Chiesi, 4 ECTS) –      6 ECTS

-    Introduction to the course: educational aims and content, teaching methods, rules for the examination
-    Historical development of the Italian banking system
-    Role and functions of  banks in the economic system
-    The regulatory framework for banks and banking activities
-    Types of bank organization
-    Fund-raising policies
-    Liquidity and treasury management
-    Lending policies
-    Retail banking, private banking and corporate banking (typical customer needs, organizational features of the business area, products and services, key competitive drivers)
-    Bank financial report
-    Risk management, internal control and supervision
-    Banking crises


Part 2 – Economics and management of insurance companies (Prof. M. Valletta, 2 ECTS, and Prof. P. Zocchi, 4 ECTS) – 6 ECTS

-    The functioning of the insurance mechanism and the characteristics of ideally insurable risks
-    Functions performed by insurance companies
-    The economic and technical characteristics of insurance contracts (general aspects)
-    Life and health insurance (the components of the insurance premium, technical reserves, traditional contracts, index- and unit-linked policies)
-    Supplementary pension schemes (products offered by insurance companies and pension funds)
-    Property and liability insurance (the components of the insurance premium, technical reserves, main types of contracts, the insurance for the risk of business interruption, general liability insurance and automobile liability insurance).
-    The financial and technical management of insurance companies
-    Alternative insurance distribution systems
-    Bancassurance and assurbanking


Prerequisites

Sitting for the test of this course is allowed to students that passed the following test course: Business Economics, Accountancy (I), Financial Markets and Institutions.


Course Texts

Part 1

Required text:
A Banfi, V. Capizzi, L. Nadotti, M. Valletta, Economia e gestione della banca, McGraw-Hill, Milano, 2010. The text is available in the library of the Department.

Other teaching materials will be available in the course official web page at the following link: https://eco.dir.unipmn.it. For further information, please make reference to the above mentioned official web page. The login to this web page requires a password: please contact one of the instructors to get it (gianmarco.chiesi@unipmn.it or mario.valletta@unipmn.it )

Part 2

Required text:
C. Porzio, D. Previati, R. Cocozza, S. Miani, R. Pisani, Economia delle imprese assicurative, McGraw-Hill, Milano, 2011 (except chapters 5 and 8). The text is available in the library of the Department.

Other teaching materials will be available in the course official web page at the following link: https://eco.dir.unipmn.it. For further information, please make reference to the above mentioned official web page. The login to this web page requires a password: please contact one of the instructors to get it  mario.valletta@unipmn.it or paola.zocchi@unipmn.it)


Teaching methods

The instructors will use a mix of different teaching methods (traditional lectures, interventions of professional guest speakers, exercises and simulations).
Class participation is not compulsory.


Examination

One compulsory written exam (closed books closed notes) with a two hours duration, covering the whole course program. Students can split the examination in two parts (according to the course structure). Students that have reported at least 18/30 in the written examination can sit for an oral examination (which is not compulsory) whose evaluation will contribute, either negatively or positively, to the final mark. For further information, please make reference to the course official web page at the following link: https://eco.dir.unipmn.it .