Who should conduct the Verification You are exempt from the personal preparation test if you have a degree in Economic Sciences (L-33) or Economics and Business Management (L-18) or hold an equivalent degree (previous degree, university diploma - 3 years, school for special purposes - 3 years) with a degree mark of 99/110 or higher . How to access To take the personal preparation assessment, you must complete the pre-registration procedure in order to appear on the lists of students who must take the test. Note: Pre-registration and personal preparation assessment are free of charge. Payment of the registration fee and the regional fee is only required upon confirmation of enrolment. How it works The verification will be conducted by means of a written test, aimed at: . demonstrate the ability to communicate in English clearly and spontaneously, with sufficient detail and fluency; . evaluate the candidate's personal preparation in the fields of economics and business . Candidates with significant deficiencies will be considered unsuitable. . However, those found to be unsuitable may repeat the interview as many times as necessary until the required level is reached. Where and when Check the updated dates and modalities on the dedicated page of the Department of Economics website. To prepare you Students should be familiar with the main concepts taught in the three-year basic economics courses (basic mathematics, financial mathematics, statistics, business economics, micro- and macroeconomics). For their preparation, they may use textbooks and/or course notes. Alternatively, they may use the materials listed on this webpage. The topics to be assessed are listed below. Students are encouraged to focus on the definitions of the main topics covered during the three-year degree course in the above-mentioned areas, with particular emphasis on the topics listed below. Economy In the area of economics, the admission test questions will focus on the main topics of microeconomics and macroeconomics. In particular, students should be able to answer questions on: consumer theory the theory of the firm market structures the determinants of aggregate demand the IS-LM model the Phillips curve References: Frank, R.H., Cartwright, E. (2020), Microeconomics and Behaviour, 3rd edition, McGraw-Hill Education (ISBN: 1526847841). Frank, R.H., Cartwright, E., Piras, R. (2021), Microeconomics, 8th edition, McGraw-Hill Education (ISBN: 883869706X). Blanchard, O. (2021), Macroeconomics, 8th edition, Pearson (ISBN: 9780136713883). Blanchard, O., Amighini, A., Giavazzi, F. (2021), Discovering macroeconomics: what you cannot not know, Il Mulino (ISBN: 9788815290168). Example questions: . What is a demand curve? . Describe the elements that enter into a consumer's budget constraint. What is a supply curve? Define the notions of total cost, average cost and marginal cost. What are the main differences between a monopolistic and an oligopolistic market? What are the determinants of aggregate demand in an open economy with a public sector? Describe the instruments and effects of fiscal policies on the economic system. Describe the instruments and effects of monetary policies on the economic system. What is the relationship between inflation and unemployment? In the area of economics, the admission test questions will focus on the main topics of microeconomics and macroeconomics. In particular, students should be able to answer questions on: consumer theory the theory of the firm market structures the determinants of aggregate demand the IS-LM model the Phillips curve References: Frank, R.H., Cartwright, E. (2020), Microeconomics and Behaviour, 3rd edition, McGraw-Hill Education (ISBN: 1526847841). Frank, R.H., Cartwright, E., Piras, R. (2021), Microeconomics, 8th edition, McGraw-Hill Education (ISBN: 883869706X). Blanchard, O. (2021), Macroeconomics, 8th edition, Pearson (ISBN: 9780136713883). Blanchard, O., Amighini, A., Giavazzi, F. (2021), Discovering macroeconomics: what you cannot not know, Il Mulino (ISBN: 9788815290168). Example questions: . What is a demand curve? . Describe the elements that enter into a consumer's budget constraint. What is a supply curve? Define the notions of total cost, average cost and marginal cost. What are the main differences between a monopolistic and an oligopolistic market? What are the determinants of aggregate demand in an open economy with a public sector? Describe the instruments and effects of fiscal policies on the economic system. Describe the instruments and effects of monetary policies on the economic system. What is the relationship between inflation and unemployment? Mathematics and Financial Calculus General facts about real functions. Elementary functions and their graphs; geometric transformations. . Differential Calculus. Definition of the derivative and its geometrical interpretation; derivatives of elementary functions; rules of differentiation; relation between the sign of the derivative and the monotonicity of the function. Linear algebra. Linear algebra. Algebraic operations with vectors and matrices; determinant of square matrices. . Financial Calculus. Simple and compound interest rates; annuities (present value, final value, perpetual annuities); amortisation schedules. References Peccati - Salsa - Squellati, "Mathematics for Economics and Business", (EGEA) covers all the required content. Example questions: Draw the graph and illustrate the main features (domain, limits, monotonicity) of the exponential/logarithmic/power function. Dictate the definition of derivative for a real function and illustrate its geometric meaning. Write the rule of differentiation for the product/ratio/composition of two functions. Calculate the product of two given matrices. Describe how capital is accumulated from an initial sum C invested for N years with the annual interest rate I in the case of simple interest and compound interest (with annual capitalisation). Let us consider time in years. Let C be an amount due in N years and let D be the annual discount rate. Write down the formula for the present value of C in the case of simple discount and in the case of compound discount. . General facts about real functions. Elementary functions and their graphs; geometric transformations. . Differential Calculus. Definition of the derivative and its geometrical interpretation; derivatives of elementary functions; rules of differentiation; relation between the sign of the derivative and the monotonicity of the function. Linear algebra. Linear algebra. Algebraic operations with vectors and matrices; determinant of square matrices. . Financial Calculus. Simple and compound interest rates; annuities (present value, final value, perpetual annuities); amortisation schedules. References Peccati - Salsa - Squellati, "Mathematics for Economics and Business", (EGEA) covers all the required content. Example questions: Draw the graph and illustrate the main features (domain, limits, monotonicity) of the exponential/logarithmic/power function. Dictate the definition of derivative for a real function and illustrate its geometric meaning. Write the rule of differentiation for the product/ratio/composition of two functions. Calculate the product of two given matrices. Describe how capital is accumulated from an initial sum C invested for N years with the annual interest rate I in the case of simple interest and compound interest (with annual capitalisation). Let us consider time in years. Let C be an amount due in N years and let D be the annual discount rate. Write down the formula for the present value of C in the case of simple discount and in the case of compound discount. . Statistics The probability The 'concept' of probability. Kolmogorov's axioms. The binomial distribution and its properties. The normal distribution and its properties. Inference Population and sampling The sample mean Confidence intervals for the mean of a normal distribution The logic of hypothesis testing Tests for the mean of a normal distribution Modelling Correlation Simple regression References: http://onlinestatbook.com/Online_Statistics_Education.pdf or (in Italian) Borra- Di Ciaccio, Statistics. Methodology for the Economic and Social Sciences, Mc Graw-Hill Example questions What is the binomial distribution and its characteristics ? Describe the main properties of the normal distribution. Introduce the sample mean distribution for normal samples. Illustrate the confidence interval for the mean of a normal distribution and its significance. Illustrate the definition and properties of the correlation coefficient. How is the regression line constructed? The probability The 'concept' of probability. Kolmogorov's axioms. The binomial distribution and its properties. The normal distribution and its properties. Inference Population and sampling The sample mean Confidence intervals for the mean of a normal distribution The logic of hypothesis testing Tests for the mean of a normal distribution Modelling Correlation Simple regression References: http://onlinestatbook.com/Online_Statistics_Education.pdf or (in Italian) Borra- Di Ciaccio, Statistics. Methodology for the Economic and Social Sciences, Mc Graw-Hill Example questions What is the binomial distribution and its characteristics ? Describe the main properties of the normal distribution. Introduce the sample mean distribution for normal samples. Illustrate the confidence interval for the mean of a normal distribution and its significance. Illustrate the definition and properties of the correlation coefficient. How is the regression line constructed?
