Academic Year 2023/2024

  • Moduli: Giovanni Cardillo (Modulo 1) Giovanni Cardillo (Modulo 2)
  • Teaching Mode: Traditional lectures (Modulo 1) Traditional lectures (Modulo 2)
  • Campus: Bologna
  • Corso: Second cycle degree programme (LM) in Greening Energy Market and Finance (cod. 5885)

    Also valid for Second cycle degree programme (LM) in Quantitative Finance (cod. 8854)

Learning outcomes

On completion of the module students will be able to (a) evaluate the fundamental characteristics of major derivative instruments, (b) assess the function and impact of such instruments for corporate financing and risk management, and (c) more broadly, critically appreciate the recent research in the area of financial derivatives for investing and risk management purposes.

Course contents

  1. The economics of hedging strategies
  2. Introduction of the derivative's contracts
  3. Fixed-income securities and hedging strategies
  4. ESG factors, ESG Ratings, and their use for the firm's risk management
  5. Sustainable products
  6. Credit risk and banks
  7. Forwards and futures contracts
  8. Swaps, FRA and interest rates
  9. Option Lab


  1. Hull, John C. (2018) Options, Futures, and Other Derivatives, Eleventh Edition. Global Edition. Pearson-Prentice Hall.
  2. Booklet materials provided by the instructor.

Teaching methods

Traditional lectures, labs, and practitioners' guest lectures.

Assessment methods

The exam consists of a written quiz containing 3 open (3 points each) and 11 multiple questions (2 points each). Both kinds of questions might be about either theoretical arguments or practical exercises.

Furthermore, the students have to deliver a mandatory team-work assignment (i.e., a presentation of a research paper; max. 5 students; 0-3 points) about one of the topics of the course.

Teaching tools

Lecture slides and additional research papers will be provided by the instructor when the course progresses. Furthermore, all the lecture slides will be provided by topic in advance.

The instructor the lecture materials in advance using the platform "https://virtuale.unibo.it/"

Office hours

See the website of Giovanni Cardillo