OVERVIEW

The course introduces the student to the main economic-organizational dynamics of a company, highlighting the role of the expert in the business context, with particular attention to the realization, evaluation of profitability and management of investment projects in terms of corporate "sustainability", and thus beyond the simple technical validity of a proposal.

AIMS AND CONTENT

LEARNING OUTCOMES

The main learning outcomes of the course is the acquisition by the students of the fundamental concepts of economics and business organization, through which they can use in the future professional life the scientific knowledge obtained, applying it in the context of industrial production system.

AIMS AND LEARNING OUTCOMES

The aim of the course is to provide students with a general overview of the structure of enterprises in the manufacturing sector and with the basic financial issues that affect their business activities, with emphasis on investment projects and environmental compatibility.

Expected learning outcomes:
1. Evaluation of a company's economic and financial information
2. Evaluation of investment projects
3. Monitoring and management of industrial projects

Professional Profile Recommended:
Materials scientist: specialist in technology

PREREQUISITES

no prerequisite required

TEACHING METHODS

The entire program will be carried out during the lessons.

The notes relating to each lesson will be available on AulaWeb in collections of slides prior to the lesson itself.

SYLLABUS/CONTENT

A) The Enterprise system

1. Legal and technological-organizational structure

• Shareholders, Board of Directors, Management, Governance
• Analysis of the activities of a company

2. Business purposes

• Maximization of economic value
• The social responsibility policy

B) Determination of the production level

1. Elements of evaluation of the demand

2. Cost analysis

• Standardization, normalization and modularity
• Economies of scale and learning economies
• Fixed, variable and total costs
• Determination of the break-even point and elasticity analysis
• Cost estimation in the process industry

C) The logic of choices in production companies

1. Funding criteria and constraints

• The financial documents of the companies
• Growth strategies

2. Theory of investments and technological innovation

• Definition of Net Present Value, Discounted Cash Flow and Return on Investment
• Risk and uncertainty assessment

D) The business-environment relationship

1. Environmental externalities

• Examples of allocation of scarce natural goods
• Constraints on the level of pollution: command-and-control legislation and negotiable emission rights

2. Cost-Benefit Analysis

E) Project management

1. Techniques for monitoring results and budget

2. Quantitative tools

• Linear programming: simplex method
• Quadratic programming
• Mathematical programming with equality and inequality constraints
• Branch & Bound method for integer problems

Additional module for students with 6 credits

F) Elements of Theory of Value (2 credits)

• Valuation of bonds. Nominal, spot and forward rates.
• Value of the shares. Gordon model
• Financial analysis, financial documents, profitability, efficiency, risk, liquidity ratios.
• Risk analysis, efficient portfolios, optimal market portfolio, beta coefficient, CAPM.
• Role of corporate debt. Costs of financial distress and bankruptcy.
• Financial concepts of derivative products: futures, options, swaps.

RECOMMENDED READING/BIBLIOGRAPHY

G. Azzone e U. Bertelé – L’impresa- Sistemi di governo, valutazione e controllo- 5a Ed. –Rizzoli Etas, 2011

M. Peters, K. Timmerhaus and Ronald West - Plant Design and Economics for Chemical Engineers- 5a Ed. –McGraw-Hill Education, 2003

Notes of the lessons

Supplementary material will be provided on request to working students or students with SLD to meet specific needs.

TEACHERS AND EXAM BOARD

Exam Board

MARCO VOCCIANTE (President)

ANDREA REVERBERI

ALBERTO SERVIDA (Substitute)

LESSONS

LESSONS START

The lessons of the second semester will start on 28/2/2023 and will end on 08/6/2023, with the interruptions foreseen by the didactic calendar of the School of Sciences.

BEING IMPOSSIBLE TO PROVIDE NOW A DEFINITIVE LESSON SCHEDULE, AND IN VIEW OF ANY EXTRAORDINARY MEASURES CONCERNING DIDACTICAL ACTIVITY EMOTED BY THE UNIVERSITY, STUDENTS ARE INVITED TO FREQUENTLY VISIT THE WEB SITES https://corsi.unige.it/9020/p/studenti-orario AND https://chimica.unige.it/node/390 TO BE UPDATED ON THIS TOPICS

Class schedule

The timetable for this course is available here: Portale EasyAcademy

EXAMS

EXAM DESCRIPTION

Periodic learning checks - Final oral exam.
The oral exam will consist of a series of questions and consequent discussion on the various modules in which the course is organized, in order to evaluate the correct achievement of the learning outcomes (see "assessment methods").
Further information will be provided during the course (during the first lesson, and subsequently at the request of the student).

For students with disabilities or with SLD, the examination methods are consistent with the University regulations for carrying out the exams (https://unige.it/disabilita-dsa).

ASSESSMENT METHODS

The attendance of the lessons constitutes a fundamental prerequisite for the achievement of the learning outcomes of the teaching.
The oral exam will allow the verification of the actual achievement of these outcomes.
At the same time, the student's critical reasoning skills and his ability to answer specific questions in a clear and direct way will be assessed. In particular, the student's ability to apply the theoretical knowledge acquired in response to realistic scenarios or to solve simple problems will also be positively evaluated.
If the learning outcomes are not achieved, the student will be invited to deepen the study and to make use of further explanations by the teacher.

Exam schedule