Most of these slides are based on lecture notes by Peter Ireland.  

Math preliminaries and general equilibrium 

Overview of Pricing Theories

Choices under risk

Measures of risk aversion and their interpretation (up to page 66, stochastic dominance has not been covered)

Risk Aversion and Investment Choices 

Modern Portfolio Theory

Capital Asset Pricing Model 

APT and Multifactor Models, Fama-French three factors 

Arrow-Debreu Equilibrium and the CAPM


Arrow-Debreau Pricing: Arbitrage

Martingale Pricing

Term Structure of Interest Rates




The exam will be composed by one numerical exercise and by one question. You can reply in Italian. If you want to use english, then your written english must be good. If i do not understand what you write, I will consider it as wrong.  

To register your result you need to pass also the other part of the course of Financial Economics, taught by Piergiovanna Natale. When you register for the part taught by Prof. Natale, also sign up to register Financial Economics. Once you have done that, and passed all the parts, your result will be registered.  

University rules about  the results of written tests: 

Notice that all positive results (larger or equal to 18/30) obtained in a written test will be automatically recorded. The student can opt for an oral test, typically online, where the potential result is included in the range  [-3,+3]. This means that if, for example, a student has a 21/30 in the written part it could translate into a final result included between 18/30 and 24/30. Similarly, a result equal to 18/30 in the written test could translate into final results ranging from 15/30 (fail) to 21/30, and so on. 

Oral tests are held in English. 

Results 01/09/23: Damian Edoardo 23/30

Results 20/7/23

Results 30/6/23

Results 14/4/23

Results 27/2/23, Solution to exercise  

Results  27/1/2023

Results 5/9/22,

Results 25/1/2022

Result 22/1/21

Results up to 24/2/2022

Results 22/4/2020, mail by May 12 at 12 am if you do not want your result to be registered

Results 23/6/22, mail by july 1 at 12 am if you do not want your result to be registered

Results 19/7/22, mail by july 27 at 12 am if you do not want your result to be registered