HOW TO PREPARE FOR THE INTERVIEW
T
wo

Y
ear
M
aster
’
s
C
ourses
Economics
Finance and Insurance
AY 201
3

201
4
The interview verif
ies
the adequacy of the
applicant’s
background
.
T
he Evaluation Committee
will
focus
the interview on those topics that contribu
ted
–
through a low mark
–
to
reduce
the GPA in the
three

year degree
below 99/110 (or 9/10 of the highest mark). It investigates the ability to master
fundamental concepts and instruments.
T
he interview
m
ay include a written part.
The program
for
the i
nterviews for each subject is outlined below.
Microeconomics
Markets and p
rices:
s
upply and
d
emand. Consumer
b
ehavior. Individual and
m
arket
d
emand. Choice
under uncertainty. Production.
The c
ost of
p
roduction. Profit
m
aximization and
c
ompetitive
s
upply.
a
nalysis of
c
ompetitive
m
arkets. Market
p
ower: Monopoly and monopsony. Pricing with
m
arket Power.
m
onopolistic competition and oligopoly.
Markets for factor inputs. Investment, time and capital
markets. General equilibrium and economic efficiency. Markets
with asymmetric information.
Externalities and public goods.
Suggested Textbook:
Robert. S. Pindyck Daniel L. Rubinfeld,
Microeconomic
s
,
Chapters: 1

12; 14

18
Macroeconomics
The goods market. The financial market. Goods and financial markets: the IS

LM m
odel. The labor
market. The AS

AD model. The Phillips curve. Inflation, activity and money growth. Expectations.
Financial markets and expectations. Expectations: consumption and investment. Expectations: output
and policy. Openness in goods and financial
markets. Output, the interest rate and the exchange rate.
Exchange rates: adjustments, crises and regimes. Pathologies: high unemployment, high inflation,
transition in Eastern Europe and the Asian crisis. Policy making: monetary and fiscal policies.
Sugge
sted
Textbook: Blanchard, O.
Macroeconomics
. (all the chapters apart from section three (X

XII))
Mathematics
Elements of logic and set theory. Hints on connectives and quantifiers, implications. Sets, subsets,
operations on sets, Cartesian product, numeri
cal sets. Real line,
intervals, neighbourhoods.
Functions of one variable. Definition of domain, codomain, image, graph of a function. Elementary
functions. Injective, surjective, inverse, composite functions. Bounded, monotone, convex functions.
Optimum
of a function. Economic and Financial Applications.
Limits and continuity. Definition of limit. Calculation of limits and fundamental theorems. Elementary
limits and indeterminate forms. Continuous functions and related theorems. Economic and Financial
App
lications.
Differential calculus and applications. Concept of derivative and its geometric meaning,
higher order
derivative
s
, rules of derivation. Derivation of elementary functions, of the inverse function and chain
rule. Differential calculus theorems. M
onotony and convexity tests. Optimum problems. Study of a
function. Economics and Business Applications.
Hints on linear algebra and integral calculus. Vectors, matrices and operations. Economic and Financial
Applications. Definition of primitive and defi
nite integral.
Functions of two variables. Definition and domain.
Extension of the concepts of continuity and
derivabili
ty. Partial derivatives and gra
dient. Unconstrained optimum problems.
Textbook: A. Chiang,
Fundamental Methods of Mathematical Econom
ics
, McGraw

Hill
Interview:
definitions, theorems (statements)
Exam:
definitions, theorems (statements), applications/examples
Students of the Torino Faculty of Economics may refer to the following textbook
L. PECCATI, S. SALSA, A.M. SQUELLATI, Matematic
a per l'Economia e l'Azienda, EGEA, Milano,
2004.
Probability
Elements of combinatory calculus.
Different foundations of probability calculus and properties.
Conditioned probabilities, total probabilities, Bayes’ theorem.
Definition of random variable.
Law of probability, cumulative density function, expected value and
higher moments.
Discrete random variables.
Continuous random variables, density function.
Monotonic transformation of a random variable. Hints on random vectors, joint and marginal
cumul
ative density functions. Independent random variables. Sum of independent ra
ndom variables.
Variance and co
variance of a linear combination of random variables. Moment generating function.
Interview
: definitions, theorems (statements)
Exam
: definitions,
theorems (statements), applications
and
examples
Suggested
Textbook:
Sheldon M.
Ross
,
Introduction to Probability Models
.
Statistics:
Data Analysis: frequency distributions, graphical representations, descriptive indices
Elementary probability calculus:
probability measures, conditional probabilities, main properties
Random variables: continuous and discrete random variables, double random variables, fundamental
random variables and central limit theorem.
Introduction to statistical inference: sampling a
nd sampling distribution, point estimate, confidence
intervals and hypothesis testing.
Hints on regression model.
Suggested
Textbook
:
T.H. Wonnacott, R.J. Wonnacott,
Introductory Statistics
, John Wiley & Sons
Or, for students of the Torino School of Econo
mics:
Students of the Torino Faculty of Economics may refer to the following textbook
:
A.C. MONTI ,
Introduzione alla Statistica
, Seconda Edizione, Edizioni Scientifiche Italiane,
Napoli, 2008.
Investments /Capital Markets
The Investment Environment: Mark
ets and Instruments, How Securities are Traded, Investment
Companies, Interest Rates and Risk Premiums
Portfolio Theory: the Mean Variance Model
CAPM
Suggested Textbook:
Z. Bodie, A. Kane, A.J. Marcus,
Investments
, McGraw

Hill
Accounting
The firm, its e
nvironment and characteristics
The balance sheet
Functions and functional areas: planning, marketing, production and logistics, research and
development, finance, organization and human resources, accounting and cost management.
VAT and financial accountin
g.
Accounting data.
Closing and reopening of accounts in financial accounting: accounting data schemes.
Su
ggested Textbook:
P. Kimmel, J. Weygandt, D. Kieso,
Financial Accounting: Tools for Business Decision
Making
,
John Wiley & Sons
Students of the Torino School of Economics may refer to the following textbook
AA.VV.,
Lezioni di Economia Aziendale
, G.Giappichelli Ed.

Torino, 1996,
Section 1 and 2
G.Ferrero
, F.Dezzani, P.Pisoni, L.Puddu,
Contabilità e bilancio d’esercizio
, Giuffrè, Milano, 2004
Section 1: only points 4 and 5.
Section 2: Subsection 6, excluding 6.3, 6.4, 6,8, 6.10, 6.11,6.18, 6.22, 6.23, 6.24, 6.25, 6.26.2,
6.28, 6.29, 6.30.
Section Three.
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