Compulsory subject, 6 credits, 2nd year, 1st term. Taught: in Spanish, Euskara (Basque) and English, part of the Business Fundamentals module.



It is offered jointly for the following degrees: Bachelor´s Degree in Business Administration and Management, Bachelor´s Degree in Marketing, Bachelor´s Degree in Taxation and Public Administration, Double Bachelor´s Degree in Business Administration and Law, and Double Bachelor´s Degree in Business and Economics. In the branch of Social and Legal Sciences.



It includes specific basic knowledge for those who want to orient their learning towards business economics.



It provides students with basic tools for the management of business economics, especially finance and insurance. It highlights the importance of real-life knowledge of the subject of financial mathematics. This is important in its own right both for defining financial and insurance strategies and policies and for the need to deal with other areas of the company, which makes it necessary to have basic knowledge of these subjects in order to be able to enter into negotiations both internally and, if necessary, with personnel from outside the company. For example, with financial institutions that have to approve a loan for an investment to launch a new product on the market, it is necessary to know how to apply for a loan, the financial treatment of the investment and borrowed money, calculate the financial costs and, consequently, the expected benefits. In short, the valuation of the financial operation and its financial viability.





DESCRIPTORS



Analysis of capitalisation and discount. Financial equivalence relationships between capitals and financial parameters. Valuation of capital flows. Design and study of capital formation/acumulation products. Design and study of financing products.





OBJECTIVES



On the one hand, to achieve the minimum knowledge of basic concepts such as financial fundamentals and the distribution of capitals, from which we develop the tools that we will apply in the economic-financial market, such as financial laws, incomes, etc. On the other hand, to acquire sufficient competence to apply and, if necessary, develop the previously acquired knowledge in the real world. It is in this real field where we will design financial operations such as capitalisation funds, loans, fixed income, etc.

COMPETENCIES:



1st. Analyse and interpret financial concepts, models and laws related to Financial

Operations.



2nd. Develop and apply financial formulations in the valuation and substituting of capital

flows.



3rd. Design savings or capital formation plans in the case of institutions, business people or

individuals.



4th. Design financing and amortisation plans for the specific needs of institutions, business

people or private consumers.





These specific competences are linked to the following competences of the module: M02CM01, M02CM03, M02CM04 and M02CM05.





LEARNING OUTCOMES:

- Analysis and interpretation of financial concepts, models and laws related to financial

operations.



- Development and practical application of financial formulations in the valuation and

substitution of capital flows.



- Design of savings or capital formation plans in the case of institutions, business people or

individuals.



- Design of financing and amortisation plans for the specific needs of institutions, business

people or private consumers.

1st) Fundamentals of Financial Operations.

a. Analysis of capitalization and discounting.

b. Financial equivalence relations between capitals and between financial parameters.

2nd) Study and valuation of capital flows.

3rd) Capital formation.

4th) Financing: loans and fixed-income operations.

In the lecture, the teacher explains theoretical subjects and complements them with real cases for a better understanding.



Computer practice. Resolution of exercises or problems corresponding to each skill, with active student participation.

• Continuous Assessment System
• Final Assessment System
• Tools and qualification percentages:
  • Written test to be taken (%): 100

Assessment systems



a) Mixed assessment:



The subject comprises 4 competences, which are worth 25%, 25%, 25% and 25% of the final grade, respectively.



The mixed assessment has two Continuous Assessment Tests (CAT) and a final exam.



The 1st CAT has an eliminatory character. It includes the 1st competence and 2nd competence, which corresponds to the first part of the subject. In order to pass this first CAT, at least 5 points in base 10 points must be obtained, in which case the1st competence and 2nd competence will be eliminated in the final exam of the ordinary exam. The type of exam of the first CAT (of the 1st competence and 2nd competence) will be published in e-gela, in each of the groups.



The 2nd CAT has an eliminatory character. It includes the 3rd competence and 4th competence, which corresponds to the second part of the subject. In order to pass this second CAT, at least 5 points in base 10 points must be obtained, in which case the 3rd competence and 4th competence will be eliminated in the final exam of the ordinary exam. The type of exam of the second CAT (of the 3rd competence and 4th competence) will be published in e-gela, in each of the groups.



If a student passes both CATs, he/she passes the subject, and his/her final grade in the subject will be the average of the both grades obtained on the CATs.



If a student passes only one of the CATs, he/she will take the part not passed to a single final exam coinciding in date and content, as far as that part is concerned, with the final assessment of the ordinary exam. In order to pass the subject, the student must obtain at least 5 points in base 10 points in that part (his/her final grade in the subject will be the average of both parts). On the other hand, if your grade is lower than 5 points in base 10 points in that part presented, that grade will be the grade written in the January exam as a fail.





If the student does not pass any of the two CATs, he/she will take the whole subject in a single final exam that coincides in date and content with the final assessment of the ordinary exam. This grade will be the one that will be included in the January exam. Students must obtain at least 5 points in base 10 points in the final exam of the four competences to pass the subject; and, if their grade is lower than 5 points in base 10 points, this grade will be the grade written in the January exam as a fail.



Students coming from the mixed assessment, who do not sit the final exam for the part not passed will be graded as "Did not sit".





WAIVER OF THE MIXED ASSESSMENT SYSTEM



Students will have a right to be assessed using the final assessment system, whether they have participated in the mixed assessment system or not. To that end, students have to submit the waiver to the lecturer by email, duly identifying themselves (Group, subgroup, ID card number, name and surname), for which they will have a period of 12 weeks from the beginning of the term, in accordance with the academic calendar of the Faculty.





b) Final assessment:



The subject comprises 4 competences, which are worth 25%, 25%, 25% and 25% of the final grade, respectively.



There is one single final exam that covers the whole subject. For this exam session, the mixed part, if it has taken place, is not considered. The type of exam will be published in <>, in each of the groups.



Students who for justified reasons cannot participate in the mixed assessment system, may accredit the achievement of knowledge and competences inherent to the subject through a single final exam. The aforementioned reasons are those set out in the current regulations for this academic year.



The grade will be 100% of the mark, maintaining the weightings of each competence.

The subject comprises 4 competences, which are worth 25%, 25%, 25% and 25% of the final grade, respectively.



Students must take a single final exam that covers the whole subject. The grade will be 100% of the mark, maintaining the weightings of each competency.



For this extraordinary call, the results of the mixed assessment are not taken into account.



The type of exam will be published in <>, in each of the groups.

Basic bibliography

Basic bibliography (in SPANISH)



BETZUEN ZALBIDEGOITIA, Amancio (2001): "Curso de Matemáticas Financieras: Fundamentos, Rentas y constitución de capitales". Instituto de Estudios Financiero-Actuariales. Bilbao.



BETZUEN ZALBIDEGOITIA, Amancio (1992): "Curso de Matemáticas Financieras: Operaciones de Préstamos, Operaciones de Empréstitos". Instituto de Estudios Financiero Actuariales. Bilbao.



BETZUEN, Amancio; GOMEZ, Rosalía; BILBAO, Alberto; DE LA PEÑA, J.Iñaki (1994): "Matemática Financiera: Ejercicios resueltos". Instituto de Estudios Financiero Actuariales. Bilbao.



Basic bibliography (in EUSKARA)



BETZUEN ZALBIDEGOITIA, Amancio. Euskaratzailea: BILBAO GARZON, Alberto (1990): Matematika Finantzariozko Kurtsoa. Oinarrizko finantz analisia. Errentak. Kapitalen eraketaren eragiketak. Instituto de Estudios Financiero- Actuariales. Bilbao.



BETZUEN ZALBIDEGOITIA, Amancio. Euskaratzailea: BILBAO GARZON, Alberto (1993): Matematika Finantzariozko Kurtsoa. Mailegu-eragiketak. Obligazio-jesapenen eragiketak. Instituto de Estudios Financiero Actuariales. Bilbao.

In-depth bibliography

GIL PELAEZ, L. (1989): "Matemática de las Operaciones Financieras", Editorial AC, Madrid.

SUPPLEMENTARY MATERIAL

ALEGRE ESCOLANO, P y OTROS (1995): "Ejercicios resueltos de Matemáticas de las Operaciones Financieras". Ed. AC, Madrid.

GIL PELAEZ, L. y OTROS (1993): "Matemática de las Operaciones Financieras. Problemas resueltos". Editorial AC, Madrid.

LEVI, E. (1973), "Curso de Matemática Financiera y Actuarial". Volume I, Ed. Bosch. Barcelona.


GIL PELAEZ, L. y OTROS (1993): "Matemática de las Operaciones Financieras. Problemas resueltos". Editorial AC, Madrid.

LEVI, E. (1973), "Curso de Matemática Financiera y Actuarial". Volumen I, Ed. Bosch. Barcelona.

Web addresses

. Banco de España: https://www.bde.es/bde/es/
. Bolsas y Mercados Españoles: https://www.bolsasymercados.es/esp/Home
. Comisión Nacional de Mercado de Valores: http://www.cnmv.es/portal/home.aspx
. Tesoro Público: http://www.tesoro.es/
. Web Bancos Centrales: https://www.bis.org/cbanks.htm