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MAFINRISKMaster of QuantitativeFinance and RiskManagementVI Edition

2009-2010mas

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Dear MAFINRISK Candidate,

choosing a Master Program is a very demanding task nowadays. You have to make your choice among a huge number of competing Programs. This brochure will give you all the necessary information about our MasterProgram. Before you go through all the details, however, let me try to summarizefive reasons why you should consider MAFINRISK as a special opportunity in your personal and professional development.

FocusMAFINRISK is a focused program. Indeed, it is one of the very few MasterPrograms anywhere with a specific emphasis on quantitative finance and riskmanagement. We will give you all the theory and all the operational tools you need to tackle the world of modern quantitative finance.

International environmentIf you join this Master Program you will be part of an international class. You willshare your learning experience with students that have different cultural andeducational backgrounds.

Faculty and staffWe have an experienced, qualified faculty: a carefully selected mix ofacademicians and practitioners who will try to transmit to you a passion forfinance. Our efficient and supportive staff will help you deal with your day-to-day organizational issues.

PlacementMAFINRISK has an excellent track record in terms of placement success. The quality of our students, the reputation of the program and our strong linkswith major financial institutions have all contributed to helping participants in the previous editions find a job well before the end of the program.

LocationMAFINRISK is located in Milan, a lively, fashionable, culturally stimulating city: an environment which will make your year even more enriching and enjoyable.

I look forward to receiving and carefully evaluating your application.

Francesca BeccaceceDirector of the MAFINRISK Program

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We look for talented, motivated individuals wishing to pursue a career in thefield of applied finance and ready to dedicate 10 months of challenging, intensestudy to the achievement of this goal.The master is tailored to fit both the requirements of:

•economics graduates who want to develop applied skills in the field ofquantitative finance and risk management;

•graduates in non-economics quantitative subjects (i.e. mathematics, physics,statistics, engineering, etc.), lacking a specific training in economics and finance.

The objective is to create fully independent specialists combining quantitativeand operational skills together with institutional competencies. For this reasonthe technical skills developed in our program are complemented with coursesdedicated to more general economic and institutional aspects of finance.

The program is of particular relevance to those planning to work, or working in: •capital markets, sales and trading; •risk control and risk management; • investment management and hedge funds; •new product design and structuring; •derivatives pricing, trading and risk management; • financial modelling.

MAFINRISK

Class profile Average age 25 Undergraduate degrees held Business or Management

EconomicsEngineeringFinance and BankingMathematicsPhysicsStatistics

Years experience range 0-2 GMAT range 580-700Italian 50% Non Italian 50%Male students 70% Female Students 30%Countries represented Argentina

AustriaBelgiumBoliviaBrasilBulgariaCanadaCyprusCzech

RepublicFrance

GreeceItalyJapanJordanMaltaMoldovaMontenegroNorwayUKPolandPortugal

RussiaScotlandSerbia SpainSwedenSwitzerlandTunisiaTurkeyUSA

Candidate profile

Objectives

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Courses

Attendance and program assessment

Credit points

A Master of Quantitative Finance and Risk Management from Università Bocconiwill allow you to indulge your passion using a rigorous, skills-based approach. The program will be taught by a highly qualified faculty, which includesteaching and research staff from Università Bocconi and visiting professors fromother top universities. The learning process has a practical orientation and takesthe form of structured lectures backed up by practical applications through casestudies and visiting speakers as well as project works and individual research.

The program is completed in 10 months full-time. To qualify for the Masterdegree participants must successfully complete 17 courses (i.e. fundamentals,core and electives) and an individual project or an internship report. Thefundamentals and core courses are compulsory and will be taken by everyone.The electives are selected from a wide menu and will reflect one’s individualchoices and interests:

•7 fundamentals (I term);•6 core courses (II term);•4 electives, from a list of about ten courses (III term);• individual project/internship report.

The first term covers mainly introductory courses with the aim of establishing acommon language between the faculty and the participants and to smooth outthe differences in academic and working backgrounds.

The second term is intended to emphasize different fields of finance, combiningquantitative and risk management subjects. It focuses on the most technicalaspects of asset pricing and hedging while stressing the institutional,organizational and regulatory aspects.

The third term offers a number of optional courses, each dedicated to somespecific aspects of applied finance.

A final project or an internship concludes the program.

Regular attendance is needed to complete the program successfully. Students arerequired to attend at least 80% of the classes of every term. Each course will beassessed on the basis of course work and a final examination. In some coursesclass participation and oral report presentations might be graded.

The total number of credits to be obtained is 68: 60 (classes) + 8 (final project orinternship report).

Program Structure

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First Term September - December 2009

The course will analyze the market characteristics, use and valuation issues of everymajor type of derivative contract, with particular attention for options contracts. Though the relevant theoretical framework will be analyzed thoroughly, theemphasis of the course is practical: students will be required to solveassignments and to familiarize with excel applications of the concepts illustrated in the course.

This course is aimed at providing an introduction to investment management.The first part of the course, more theoretical, is devoted to the analysis ofinvestment environment and its functions and to the main theory underlying theinvestment management activity. The second part of the course, moreoperational, refers to the asset allocation and to the securities selection activitiesperformed by investment managers.

The main objective of this course is to develop participants’ skills inunderstanding, analyzing and interpreting financial statements. Consistently,the course intends to provide participants with the basic terminology offinancial accounting and with the methodology by which financial statementsmay be analyzed to extract information useful in making financial decisions orassessments about a company.

The course is intended to give the main theoretical background for non arbitrageprices and to present the basic features on derivative securities both in oneperiod and in a multiperiod setting.

Object of this course is to introduce students to the fundamental notions of theprobability theory and statistical inference. In particular we want to preparethem not only by learning theoretical background, but also to solve exercisesand to manage real statistical problems.

The course provides an introduction to the use of econometric methods ineconomics and finance. The main topics studied in the course are the linearregression model, parameter estimation and hypothesis testing, modelspecification and model selection. The topics are addressed both from atheoretical point of view and by means of computer based empiricalapplications, with a special focus on financial series modelling.

The course offers an introduction to fixed-income markets and instruments.Attention will be devoted to analysis of risk and return of fixed-incomesecurities, construction and analysis of yield curve and term structure of interestrates, fixed-income portfolio management, fixed-income derivatives.

Derivatives Davide Maspero

InvestmentsBarbara Alemanni

Accounting and Financial Statement AnalysisAriela Caglio - Annalisa Prencipe

Mathematical Models for Finance Erio Castagnoli

Probability and Statistical Inference Anna Maria Paganoni

Econometrics Barbara Chizzolini

Fixed Income Giuliano Iannotta

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Second Term January - March 2010

Stochastic calculus plays a fundamental role in financial modelling. The aim ofthis course is to provide, in a rigorous and intuitive way, the basic notionsneeded for mathematical modelling in finance.

The course is an advanced class on mathematical finance. The intention is toprovide students with the fundamental tools for the analysis of financialmarkets. The mathematical foundations of the celebrated Black and Scholesmodel will be reviewed. The valuation of relevant vanilla and non-vanilladerivatives (American claims included) will be examined in detail. The foundations of modern term structure modelling will be provided, withapplication to pricing and calibration for interest rate derivatives.

The course introduces the student to the latest developments in the area offinancial (empirical) econometrics. The interaction between theory andeconometric analysis is emphasized. Main topics are: empirical methods inportfolio analysis, volatility modelling, estimation of risk neutral densities and stochastic differential equations.

The course introduces the student to the three most important numericalmethodologies currently employed to interface between analytical results fromarbitrage pricing theory and final users trading tools. Numerical solution topartial differential equations, Monte Carlo simulations and methodologieslattice are presented in theory and in practice through several concreteapplications. Students will learn how to implement models by coding thecorresponding algorithms.

This course is aimed at providing participants with the necessary instruments tomeasure and understand the market risks associated to investments and tradingpositions typically held by major financial institutions. The subjects covered inthe course include asset liability management techniques focused on interest raterisk management, value at risk models for market risks and their applicationsfor risk measurement and control. The course also includes softwaresimulations based on simple excel files and the use of Matlab for Monte Carlosimulations.

The course is focused on credit risk measurement techniques and management.Internal and external rating systems, simplified credit risk models and fullportfolio credit risk models are, in fact, analyzed from the technical point ofview, the regulatory perspective, and the management opportunities andcompetitive issues they open.

The course deals with internal control systems and corporate governance rulesrelated to typical risks in banking and financial business (i.e. credit risk, marketrisk, operational risks). The subject is discussed according to existingregulations in the main European countries.

Stochastic Calculus Marzia De Donno

Theory of Valuation Anna Battauz - Francesca Beccacece -Alessandro Sbuelz

Time Series AnalysisGianluca Fusai

Numerical Methods Gianluca Fusai - Daniele Marazzina

Market Risks: Measurement and Management Marco Navone - Andrea Sironi

Credit Risk: Measurement and Management Giacomo De Laurentis - Andrea Resti

Internal Controls and CorporateGovernanceGiampaolo Gabbi - Marco Onado - Stefano Zorzoli

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Accounting and Risk EvaluationStefano Zorzoli

Capital Allocation Francesco Saita - Andrea Sironi

Corporate Financial Risk ManagementCesare Conti

Credit Derivatives Andrea Fabbri

Exotic Derivatives Marina Marena - Andrea Roncoroni

Microstructure Models Barbara Rindi

Third Term April - May 2010

The course discusses the peculiarities of financial statements and financialreporting of banks and financial institutions. The analysis focuses on the effectsof International Financial Reporting Standards (IAS/IFRS) endorsement onaccounting and risk evaluation by banks and deals with some related aspects,such as the analysis of bank profitability by financial ratios.

The course is aimed to describing the feature and applications of capitalallocation techniques adopted by the main international financial institutions.More particularly the course focuses on issues like the optimal financialstructure, shareholder value creation, risk-adjusted performance measurement,risk control systems and related organizational issues.

The objective is to explore a process of CFRM that is aligned with the objectiveof value creation and, therefore, is strictly integrated with the firm’s strategies.Particular attention will be devoted to the accounting procedures of financialderivatives, as provided for by the international accounting standards (IAS 32,IAS 39, IFRS 7). Risk measurement tools are also briefly explored (such as CashFlow at Risk, Value at Risk and Earning at Risk) as are risk management tools(i.e. asset and financial restructuring, contingent capital and financialderivatives). The course includes both traditional lectures and contributionsfrom visiting practitioners.

The course will focus on the management of the bank’s assets through the use ofstructured credit products. Focus will be on innovative instruments of credit riskmanagement such as credit derivatives, traditional and synthetic securitizations,collateralized debt obligations and asset-backed securities. Valuation, pricing andrisk analysis of these financial instruments will be the core topics of the course.

This course introduces to the fast-growing financial markets of exoticderivatives. We mainly focus on energy markets (i.e. electricity, gas and oil), of which we analyze both economic and financial issues. Quantitative models and contractual structures are presented in a self-containedway. Following a learning-by-doing approach, we highlight the use ofderivatives for hedging purposes through concrete examples.

The objective of these lectures is to describe and discuss the fundamental modelsof market microstructure. The course will start with an overview of theorganizational structure of financial markets around the world. This will befollowed by a presentation on the most popular microeconomic models withasymmetric information. The demonstrations will enable students tounderstand and apply various techniques of microeconomic analysis which canbe employed to evaluate regulatory actions on different market designs and toestimate transaction costs. The course will end with an introduction to the use of high frequency datasets.

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The objective of the course is to deal with measures aimed at evaluating (ex post)and choosing (ex ante) asset managers. The widespread use of ratingmethodologies (i.e. Morningstar), based on ex-post risk adjusted measures, toselect managers is not consistent with the results of several analyses onperformance persistence and with risk budget models. Starting from thetraditional Sharpe Ratio, the course will present the major performancemeasures and multimanager optimization tools.

The course is aimed to offer advanced tools and techniques for understandingand implementing financial analytics.The first section describes models for Pricing and Hedging options in a contextthat goes beyond the Black-Scholes-Merton paradigm, i.e. with stochasticvolatility, interest rate and jumps. The risk management of derivatives – andmore in general of structured products – is implemented through Greeksanalysis and the correlated market conduct of the intermediaries is analyzed. The second section illustrates the use of Fourier Transform in finance withapplication to derivative pricing and hedging. The implementation of Discreteand Fast Fourier transform is also analyzed. Numerical methods based on theNewton-Cotes and Gauss quadrature schemes are developed. The third sectionillustrates the use of stochastic limit theory and multi-dimensional diffusionprocesses in order to analyze financial time series. An application of this approach,used to detect and quantify abnormal returns in financial markets, will be shown.

The course covers the foundations of modelling for pricing interest rate derivatives.First the main interest rate derivatives and their quotations are introduced. Then the course presents the main short rate models with their advantages and limitations, and describes the HJM framework. The last generation of termstructure models, the Libor and Swap Market Models, are analyzed in depth, with case studies and examples on pricing, calibration, volatility and correlationmodelling.

Portfolio Performance EvaluationPaolo Antonio Cucurachi

Topics in Quantitative Finance Marcello Minenna

Term Structure ModellingMassimo Morini

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Visiting Professors in previous years

•Director of the ProgramFrancesca Beccacecefrancesca.beccacece@unibocconi.it

•Coordinators of the ProgramFrancesco Coriellifrancesco.corielli@unibocconi.it Davide Masperodavide.maspero@unibocconi.it Stefano Zorzolistefano.zorzoli@unibocconi.it

2008-2009 MAFINRISK Faculty

Edward Altman, Stern School of Business, NYUAndrea Buraschi, London Business SchoolAlberto Bisin, New York UniversityPhilip Molyneux, University of Wales, BangorRamon Rabinovitch, University of Texas, Houston

Faculty

Barbara AlemanniAnna BattauzErio Castagnoli Barbara ChizzoliniCesare ContiPaolo Antonio CucurachiMarzia De DonnoGiacomo De LaurentisAndrea FabbriGianluca FusaiGiampaolo GabbiGiuliano IannottaDaniele MarazzinaMarina Marena

Davide MasperoMarcello MinennaMassimo MoriniMarco OnadoAnna Maria PaganoniAnnalisa PrencipeAndrea RestiBarbara RindiAndrea RoncoroniFrancesco SaitaAlessandro SbuelzAndrea SironiStefano Zorzoli

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Placement at a Glance

Commerc

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Company Sector / Broad Role Type

4,8% 4,8% 4,8%9,5% 11,1%

16,7%22,2%

5,6% 5,6%

38,9%

76,2%

AbaxbankAccentureBanca IMIBanca IntesaBanca Popolare di LodiBanca SellaBanca Svizzera ItalianaBarclaysBNP ParibasBPU – Banche Popolari

Unite CitigroupCredito Emiliano

Credit SuisseDeloitte Italia Deutsche BankDresdner KleinwortEdisonEniEnifinFortisHVB MIB – UniCredit Group IBMIntesa San PaoloJPMorganKPMG

MediobancaMediolanumMPS FinanceNational Bank of WarsawPricewaterhouseCoopers PrometeiaRASRothschild & C.Royal Bank of ScotlandSASSociété GénéraleSchroders InvestmentUBS

Major recruiters of MAFINRISK graduates are among top investment banksand financial firms.

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First Session (early applicants): 27 March 2009Second Session: 19 June 2009

For all information regarding application and selection process please refer to the website at www.unibocconi.it/mafinrisk

Tuition Fees and Financial Aid

Tuition and fees for the 2009-2010 Master Program is € 14,500. They include course materials, use of Bocconi facilities, access to the Library and MAFINRISK online databases.

Payment can be made as follows:

• I installment: € 5,800 on enrollment (this sum includes the amount of € 1,000 -commitment fee - which is not refundable if, after having completed theregistration to the program, students decide not to attend the program anymore). Please be aware that while settling the I installment you'll be asked to pay extra29,24 € as Italian tax on University fees.

• II installment (by 30 November 2009): € 5,800

• III installment (by 1st March 2010): € 2,900

Early applicants will be required to pay on enrolment a commitment fee thatamounts to 1,000 € (this sum is not refundable if, after having completed theregistration to the program, students decide not to attend the program anymore).

A limited number of scholarships partially covering tuition and fees areavailable and offered by MAFINRISK on the basis of merit criteria according tothe outcome of the selection process.

There are other options to finance one’s study. Student can benefit from specialagreements between Università Bocconi and several banks, which offer them thepossibility to ask for a loan at advantageous conditions.

Find out more on www.unibocconi.eu/specializedmasterloans

Career Service

The Career Service helps master students enter the job market by providing:•on-campus presentations and the Career Event Bocconi&Jobs;•JobGate, web-based area with internship and job offers;•training seminars on selected job search issues, including effective application

and the interview process;•a Placement Library offering information and reference documents on the

Italian and international job market.

Selection and Admission

How to get financial aid

Application

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Can I apply if I have not completed my undergraduate degree?You can submit your application prior to the conferral of your degree. We willaccept and evaluate your dossier. However, be aware that, in case of admission,you’ll have to receive your degree within 60 days from the beginning of theprogram (November 2009).

Can I be exempt from taking GMAT?Every applicant is required to take GMAT/GRE or, alternatively, to sit for theBocconi Admission Test.

What is the Bocconi Admission Test?The Bocconi Test is focused on different evaluation areas: reading comprehension,numerical and analytical reasoning, abstract reasoning-problem solving. It lastsabout 100 minutes and is made up of 100 multiple-choice questions. MAFINRISK applicants without a GMAT/GRE are required to take theAdmission Bocconi Test in English and register for one of the scheduled sessions.

Can the Bocconi Admission Test be taken online?No. The test is held at Università Bocconi, in Milan.

Can I apply to MAFINRISK before I have taken GMAT/GRE?If the rest of your application is complete you can send it to us straight away,even if you have not yet taken GMAT/GRE. However you must inform us (in theonline application) when you expect to take the test. You can send us by faxyour unofficial test score as soon as you take it and then provide us with theofficial one. (Bocconi institution code – GMAT: MGM-CS-39 – GRE: 0021).

What GMAT score do I need?There is not a minimum score required, but it is very unusual for us to accept acandidate with a total score below 530. The score of admitted candidates variesacross classes ranging from 570 to 730. A 650+ GMAT score adds weight to anapplication, and a GMAT score of 700+ adds extra weight.

Is the English language test compulsory?It is essential that all participants speak, write and understand English fluently.Applicants whose mother tongue is not English or not holding a degree issued byan English-speaking institution are recommended to submit TOEFL (the Test ofEnglish as a Foreign Language) or another recognized English language test(First Certificate, IELTS, or equivalent).

What kind of reference letters should I submit?One or two personal references should be submitted. They can be from someonewho taught you at university, from a current or previous employer or someoneelse who knows you well in a professional/academic capacity. There is not a standard format.

What weighting do you place on the various different selection criteria?The Selection Committee will look at your academic record, work experience,application form and personal statement, references, GMAT/GRE or BocconiTest score and make a careful, balanced judgement based on all these criteria.

Frequently Asked Questions

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Are all applicants invited for interview?Not all applicants are invited for an interview. The interview is intended only forthose candidates who have to demonstrate that they have the motivation andcommitment to benefit from and contribute to the program.

I have previously applied to MAFINRISK unsuccessfully. Can I reapply?You can reapply and submit a new application.

Should I translate my degree?If you hold a degree issued by a non Italian-speaking institution you must:

•contact the Italian Embassy or Consulate of the country of your university;•ask for translation into Italian of your transcript, legalization and “declaration

of value”.Applicants from Austria, Belgium, Bulgaria, Cyprus, Denmark, Estonia, France,Finland, Germany, Greece, Hungary, Ireland, Iceland, Latvia, Liechtenstein,Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal,Czeck Republic, Romania, United Kingdom, Slovakia, Slovenia, Spain, Swedenand Switzerland must hand in the original of the diploma, translated and legallyauthenticated together with the declaration of value by September 2008.Applicants resident in countries other than those listed above must ask theItalian Embassy/Consulate to send the above documents directly to UniversitàBocconi by Telespresso.

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Matteo BertelèItaly

I attended the third MAFINRISK edition in 2006-2007. I am a space engineer andmaybe now you are asking yourself why a space engineer should study finance.Well, at the end of my studies I decided to move towards a financial career andMAFINRISK was the best tool to do it, in order to exploit my wide quantitativebackground. I was surprised in learning how deep and advanced mathematicalknowledge is necessary for financial applications. During the courses I have beenable to use what I have acquired in my engineering studies, like ProbabilisticCalculus, Numerical Methods for solving PDE and programming skills. Often theresolution techniques used in finance are based on the same mathematical toolsused to design a spacecraft or an airplane’s structure. To face this master you needa great will to study hard, especially if you want to follow the most technicalcourse. But stay sure that your efforts to wide your knowledge will be repaid.During the master I also learned a lot of stuff in Corporate Finance, things thatwere completely absent in my previous studies and allowed to fill up myEconomic knowledge. In fact, now, I am an Equity Research Analyst, and thiskind of job requires more a deep understanding of how a company works andwhat are its profitability key drivers than a quantitative approach.I have found a very stimulating and challenging environment, in fact more than halfof the students were foreigners and I made friendly relations that still continue.Further, I had the possibility to learn from a well prepared and appreciated faculty.MAFINRISK will give you a lot of job opportunities. Bocconi’s Career Service isvery efficient and effective, such that your phone will not stop to ring for manymonths after the end of the master and you will find quite easily the job you arelooking for.

Xavier SchurtzFrance

I came to Bocconi as an Economics & Finance undergraduate with the objective tosharpen my technical skills in the field of options trading and quantitative finance.I had heard of MAFINRISK through former students of the Master while I wasworking in London during internships and took this opportunity to study inanother country and also to learn a new language. To be honest, I have beensurprised by the excellent reputation of the Master among recruiters and also bythe very high quality of the professors of the program, who managed to give us athorough and extensive grasp of the different issues about topics ranging fromoption trading and pricing to risk management. Every crucial topic in quantitativefinance was covered and the Master gave me all the theoretical tools required for afuture career in this field. Beyond the outstanding content of the program, it isworth mentioning the amazing work and availability of all the MAFINRISK staffwhich has always been listening to our feedback and different requests. Theprogram professors were also really available for after hours questions ordiscussions over topics not covered during the lectures.The program gave me very strong selling arguments during the differentinterviews I took and fulfilled my expectations in term of job since I got a full-time job offer on a Volatility Trading Desk at SG CIB (Paris), a world leader in

In Their Own Words

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Equity Derivatives. I have the opportunity to use in my job what I learned atBocconi on a daily basis, so the Master curriculum was really appropriate as faras Capital Markets jobs are concerned. I am already working with Italiancolleagues and might be involved with Italian clients at some point, so spendingone year in Milan was also really useful as far as my language skills andunderstanding of the local culture are concerned. I will be relocating in London in2008 in the same job and have the chance to catch up with several bright studentsof the 2006-2007 edition who already work there in Sales, Trading, Structuringor Consulting. The atmosphere among most of the students was great and we stillget along very well and share as much time as our work allow us to do.

Igor RdultowskiPoland

I had already heard of the Bocconi name when I was studying banking in myhometown of Warsaw, but it was during my year in the Erasmus program inSiena that I was able to better understand my authoritativeness. After having returned to Poland to complete my degree program, and upon theadvice of one of my professors, I decided to return to Italy for a Master programin Milan. My dream was to have a career in my own country, but in order to be better thanthe rest I needed a highly-qualified preparation and an internationally importantdegree. That’s exactly what Bocconi could offer me, along with a lifestyle whichI had already discovered and appreciated. So I didn’t waste time and left for thesecond time. It was the right opportunity to tackle stimulating and progressivetopics along with other young people from all over Europe, especially becausemany students already had work experience and so lessons often took cues fromthose real experiences. My life in the classroom was full of much intense work but was eased byexcellent relationships with all my professors and by “an incredible spirit ofcollaboration” with the majority of my fellow students. These bonds didn’t losetheir strength when the time came to talk about internships and job placement,because the program offered me a great number of contacts at all levels, wardingoff any form of jealousy. I found just what I wanted right away. The Milanese office of Accenture wasimplementing a new risk management plan at the commercial bank of Warsaw,which belongs to the Unicredit group. It was the position I was looking for, andthe Bocconi name helped me get it. I have made no mistakes, and, at only 26years of age, I have been asked by my country’s national bank to study new risk-management plans and models.

Ivan PomaricoItaly

I entered the MAFINRISK master program in 2005 after having been workingfor more than six years in the Telecom industry, so I was a career switcher, notthe usual trainee of a pre-experience master degree.Since many physicists took the chance in finance, I thought it could have been

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the right way for me too. And indeed it has been so. I joined a financialengineering team in supporting an equity derivative desk in Milan three monthsafter the completion of the master. The maths I learned during the courses wasjust the necessary background to read the more advanced books and papers andthe weird financial jargon, I laughed so much at, is now the everyday language I use to communicate with traders. Now I am also a bit more acquainted withthe different approach to things that people with an economics backgroundhave, as I discovered studying with my younger colleagues, although ithappened and likely will still happen many times that we simply say the samething with different words.My expectations about the master and the job placement thereafter were veryhigh; and MAFINRISK has been the right choice for my career.

Katsuyuki UtataJapan

I found out about the MAFINRISK program whilst going through the Bocconiwebsite about possible graduate education I could take finishing myundergraduate degree. Initially I was unsure about the choice: to take a MSc inmanagement in another European university or to take MAFINRISK. I wasfortunate enough however, to meet a 2006-2007 graduate from MAFINRISK,who gave me an excellent feedback (and at the same time warning me about theintense nature of the course). In the end, I chose MAFINRISK as I wanted tofollow a more quantitative course and wanted my graduate course to be achallenging experience. Currently, I am employed at RBS in Japan, in the Exoticsand Hybrids Rates Structuring division, and I could not be more satisfied withmy choice of taking MAFINRISK. It is a course offering an excellent mixture ofknowledge in economic foundation of the financial instruments andquantitative methods that construct their pieces together. In one of, if not the,worst years for financial markets, I would like to thank MAFINRISK, theprofessors and staff, and the classmates who helped me get to where I am todaywith a smile on my face.

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Università Bocconivia Sarfatti 25

Take underground line 3 (going to San Donato), get off at Porta Romana and takethe no. 9 or 30 tram to Bligny/Bocconi.

Take underground line 2 (going to Abbiategrasso), get off at Porta Genova and takethe no. 9 or 29 tram to Bligny/Bocconi.

Take the no. 73 bus, get off at 5 Giornate and take the no. 9 or 30 tram toBligny/Bocconi. Or take the Malpensa Shuttle to Central Railway Station, then takeunderground line 3 (going to San Donato), get off at Porta Romana and take the no.9 or 30 tram to Bligny/Bocconi.

Take the Malpensa Express to Cadorna Railway Station, the take underground line2 (going to Abbiategrasso), get off at Porta Genova and take the no. 9 or 29 tram to Bligny/Bocconi.

How to Get to Bocconi

Parco Sempione

Castello

M2

PiazzaCadorna

Borsa

Duomo

F.S. Cadorna

A8CO-VA

F.S

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Ripa Porta Ticinese

A7MI-GE

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F.S.Porta Romana

ParcoRavizza

Viale Toscana Viale Isonzo

Via

Rip

amon

tiVia Salasco

Boc

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Via Sarfatti

Viale BlignyVia B. D'Este Viale Filippetti

PiazzaBibbiena

Corso Lodi

PiazzaMedaglie D'Oro

PiazzaleLodi

Corso Porta Romana

RotondaBesana

Corso Porta Vittoria

LargoAugusto

Corso XXII Marzo

Vial

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Mon

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Via Dante

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PiazzaXXIV Maggio

PiazzaSraffa

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15

15

29309

Via Vigevano

15

15

73

73 73

30

29

9

9 29 30

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F.S.Centrale

From Central Railway Station (Stazione Centrale FS)

From Cadorna Railway Station andGaribaldi Railway Station

From Linate Airport

From Malpensa Airport

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