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Specialised MBA

in International Economics
and Management
2005 - 2006 | 13 months

www. sdabocconi .it/md

Whats so special about the MIEM?

The SDA Bocconi MBA in International Economics and Management really is unique.

The MIEM programme was created in 1991 to fill a major gap in what is needed in the world
today to act effectively within a constantly changing international arena. The original 12-month
programme combined intensive studies in both international economics and management with
a strong emphasis on analysis and the option to focus on Finance or Marketing. And that was
already unique.

Over the years, the MIEM has moved forward. Political, economic and monetary integration,
financial crises, the strategies of emerging countries, energy problems and wars have had a
major effect on the international competitive scenario. MIEM keeps you up to date with these
changes. At the same time, the skills and capabilities needed to manage multinational
companies and international institutions and organisations have become increasingly
sophisticated. So we refined the MIEM programme to enable participants to face this new and
challenging transformation of the international arena with confidence. New methodologies
and contents were introduced. The Faculty was internationalised even more. Internships,
Projects and Research were restructured. An Exchange Programme with other top Business
Schools was started, and new services offered. The result of all these developments is truly

To meet this international complexity, the SDA Bocconi MBA in International Economics and
Management is now a 13-month programme. We have introduced additional international and
interdisciplinary topics, strengthening the two focuses. A specific compulsory phase in general
management is now part of the course. The outcome is a full international and interdisciplinary
MBA. Two really strong focuses are provided: Industry Analysis and Marketing and Money,
Banking and Finance. This leaves all your international options open.
Youll be the judge of how far we have come and how far you can go!

Get in touch
The Masters Division Help Centre is here to help you choose the right Master. Call or email Laura Russo for
any further information you need. A visit to the School can be organised for you to meet faculty, sit in on a
lesson and see the opportunities that await you.
Tel. ++39 025836.3278-3125

Ive seen what you do from the inside and it was really useful for me.
Ive looked at several MBA programmes and Ive come to the conclusion
that the Bocconi will be the right step for my future career.
MIEM Presentations Programme

12 Oct. 2004 Milan
14 Oct. 2004 Florence
28 Oct. 2004 Palermo
6 Nov. 2004 Milan
20 Nov. 2004 Rome
2 Dec. 2004 Padua
27 Jan. 2005 Milan
24 Feb. 2005 Turin
Dont miss the 3 Mar. 2005 Naples
24 Mar. 2005 Cagliari
opportunity to learn 9 Apr. 2005 Milan
more about the SDA North America
Bocconi MIEM. 12 Sept. 2004 Los Angeles
19 Sept. 2004 New York
Come and meet our 26 Sept. 2004 Toronto
30 Sept. 2004 Washington DC
staff and alumni in the
forthcoming events. Asia
15 Sept. 2004 Tokyo
Take part in one of the 18 Sept. 2004 Seoul
20 Sept. 2004 Beijing
MBA Fairs around the 23 Sept. 2004 Shanghai
25 Sept. 2004 Taipei
world, attend an 27 Sept. 2004 Bangkok

information session or 29 Sept. 2004 Singapore

23 Nov. 2004 Bangalore
visit the School during 25 Nov. 2004 Mumbai
27 Nov. 2004 New Delhi
our Open Days.
For more details check 5 Oct. 2004 Madrid
7 Oct. 2004 Brussels 9 Oct. 2004 Paris
14 Oct. 2004 Munich
16 Oct. 2004 Frankfurt
18 Oct. 2004 London
20 Oct. 2004 Zurich
22 Oct. 2004 Athens
24 Oct. 2004 Istanbul
25 Oct. 2004 London
28 Oct. 2004 Warsaw
29-30 Oct. 2004 Moscow
2 Feb. 2005 London
3 Feb. 2005 Paris

Latin America
14 Oct. 2004 Mexico City
18 Oct. 2004 Lima
20 Oct. 2004 Santiago
21 Oct. 2004 Buenos Aires
25 Oct. 2004 So Paulo

Middle East
30 Nov. 2004 Dubai
2 Dec. 2004 Cairo
Ive been dealing with Master candidates for 20 years, and all of them had two main questions for me.
Why should I attend a Master Programme? And why at SDA Bocconi? Graduates who come from a range
of backgrounds and cultures typically make up our MIEM classes. They are all highly motivated and
committed to excellence. We offer them a framework of tools, which are set up in order to cope with
the 21st century challenges: course contents; teaching methods; solid roots in the entrepreneurial and
institutional world; international perspective; continuous stimulation. For all these reasons, the
experience of attending an MIEM Programme at SDA Bocconi is innovative, complete and exciting. In one
word: it is unique.

Our aim is to provide the business community and society as a whole with individuals ready to invest on
their best qualities, in order to meet the challenges that await them. If you have the curiosity and the enthusiasm to take on a
Programme that will require your utmost commitment and determination; if you think that this Programme will offer you a real
opportunity for personal and professional growth; if you believe that attending our MIEM-Specialised MBA in International Economics
and Management means investing in your future; then we will be me more than happy to be your partners.

I personally hope that you accept this challenge, and I look forward to welcoming you.

Maurizio Dallocchio Dean, SDA Bocconi

Lehman Brothers Chair of Corporate Finance, Bocconi University

The MIEM is moving ahead and growing even further. Since the 2004-2005 edition it has become a 13-
month MBA in International Economics and Management.
I wont tell you here about all the new things weve introduced; you can read about them elsewhere in
this brochure. But I would like briefly to thank those to whom most of the credit is due for this further
improvement of the programme.

The Alumni. They above all are the indefatigable driving force that makes the MIEM so responsive to the
tiniest change in the international competitive scenario. Managers of multinationals, financial institutions
and international organisations spread all over the world. From their privileged viewpoint, they can spot
changes as they start to happen and suggest how to improve the programme to respond to them.

The participants from the past edition. As always, we selected well-prepared, intelligent, motivated and lively students. And they
played a decisive role in making a success of the programme and in improving it.The SDA Bocconi Management, the Faculty, the SDA
Bocconi Central Services and Staff. Really, none of them ever stops! Analyses, evaluation, innovative proposals and constructive
criticism just keep on coming. And their dedication to the SDA and the MIEM surprises me every time.

We all believe strongly in the MIEM. We believe in it because over the years we have developed a truly unique approach to
management: one that is international, interdisciplinary, with emphasis on analysis and synthesis and a choice between two important
focuses: Industry Analysis and Marketing and Money, Banking and Finance. We believe in the MIEM because this approach is
finding growing consensus, everywhere. We believe in it because our graduates are distinguishing themselves all over the world.
Taking part in the MIEM is a challenge. Its an eye-opening adventure. An adventure that broadens your horizons. And one that can
last a lifetime. We hope you will decide to share it with us.

Alberto Brugnoli MIEM Director

A Taste of MIEM

(...) I think that the most valuable experience you can get out of the
programme is a fantastic network of friends from totally different
backgrounds and from all over the world: having 30 nations in the course is not
typical of all business schools. (...) Take advantage of the other important
networking opportunities such as the numerous clubs and initiatives and do not
forget to get to know the people in the other programmes since you always meet
twice in your life and this is how you might get a job in future (...)
Ralf Heussner MIEM 2003

(...) You are going to join a truly international class and to study in one
of the top-ranking Business Schools (...) So, first of all, get to know all
your classmates: they come from all over the world, and this means different
cultures, backgrounds and experiences its amazing! Then, get and stay in
touch with your professors; they are all very nice, ready to support you and with
a very high level of expertise in their subject (...)
Simona Giordano MIEM 2003

(...) First of all let me tell you that you are in the most cosmopolitan,
multi-ethnic and sophisticated city in Italy. If you were looking for
Italian culture integrated in an international environment you have certainly
chosen the right place (...) And then Italy is a fantastic country where you will find
so much culture and history that youll have had enough at the end of the year.
Milan is also situated in the centre of northern Italy and within a few hours by
train or car you can be on the coast, in the mountains, in Venice, etc.
Finally Bocconi, a School with a great reputation in Europe that will provide you
with lots of opportunities: dont miss them, because you might not have another
chance (...)
Alessandro Caligaris MIEM 2003

(...) Welcome to our School and welcome to Italy! Some time ago I was
reading welcoming letters and was wondering how it would be for me in
reality (...) Building a friendly and supporting class atmosphere is very important
from the very beginning. It will enrich your study time much more if you manage
to organize some joint activities such as going together for an early evening
aperitivo, or to the cinema, or arranging trips to Italian cities during the
weekends (...)
Olga Konshekova MIEM 2003
Table of Contents

A new perspective p. 5
An international programme
An interdisciplinary approach
Two important focuses
Emphasis on analysis...
...and emphasis on synthesis

An international Master in Milan p. 8

Milan as a campus
Milan and Italy

Programme Structure p. 11

Programme Curriculum p. 12
Fundamentals of International Economics and Management
Elective Focuses
Projects, Internships and Research
General Management
International Exchanges and International Relations Management

The learning environment p. 26

Teaching methods
Learning tools and facilities

On the MIEM it's all MIEM p. 28

There's much more to the MIEM p. 30

Cross-curricular activities

The Alumni p. 31

Career Development Service (CDS) p. 32

The commitment p. 36
Costs and tuition
Financing the MIEM

The selection and admissions process p. 37

A typical MIEM class
Admissions criteria
Selection process
How to apply

MIEM at a glance p. 40

Course descriptions p. 41

The Faculty p. 45

SDA Bocconi and the Masters Division p. 46

MIEM at ease p. 47

Ive always thought of the MIEM at SDA Bocconi as a trip around the world. The quality of the lectures, the uniqueness
of the courses, and guaranteed international and multicultural experience make the MIEM programme one of the most
interesting post-graduate programmes on the market. In my current job at PricewaterhouseCoopers, Im still extracting value from
the lessons learned during my MIEM. We offer solutions to stakeholders of troubled and seriously underperforming businesses.
Analytical skills developed during the MIEM programme are an invaluable tool in this process. For that reason, we recruit MIEM
graduates on a regular basis.
Patrick Dor Manager Business Regeneration, PricewaterhouseCoopers, London MIEM 1995

A new perspective

Launched in 1991, SDA Bocconis MIEM is a highly innovative programme designed to meet the growing need for
managers with the know-how and flexibility to move with ease in the global competitive arena. Over the years, it has
evolved and been refined to make it an MBA like no other in the world. It is international and interdisciplinary, offering
crucial in-depth study in the focuses, with emphasis on analysis in the first part of the programme and on synthesis in
the last two phases dedicated to General Management and to the Management of International Relations.

The thinking behind the programme is simple: to operate successfully in the varied and complex international
scenario, organisations need managers with both a profound understanding of the technical aspects of
business administration and a solid command of the methodologies needed to analyse the world economy and
the economic, legal, and political forces that shape international competition.

What makes the MIEM unique is its combination of two elements:

the highly-sophisticated analytical tools used in the two areas covered in depth by the programme (Industry
Analysis and Marketing and Money, Banking and Finance),
the development of the capacity to perceive the relevance of changes in the global economy, and to deal
with them promptly so as to manage forward-looking multinational companies, financial institutions and
international organisations effectively.

The MIEM has a strongly international and interdisciplinary character. Its emphasis on analysis is reflected in
the content of the first four phases, with a the strong focus on two crucial areas and the emphasis on synthesis
in the last part of the programme.

An international Programme

The MIEM is a truly international management programme taught by a correspondingly international faculty
of economists and business experts, law professors and political scientists.

The curriculum seeks to broaden the focus on management concepts and quantitative techniques with a
thorough understanding of the international business environment, an analysis of the relevance of the main
economic, political, and legal developments in various areas of the world, and an in-depth knowledge of the
dynamics of international relations management.

Bocconi University is strategically located in Milan, one of Europes major business and economic centres, and
naturally pays special attention also to the European Union, to its extension to central and eastern European
countries, and to its probable impact on the management of European companies and institutions and the
workings of world financial markets.
The global focus of the programme begins from day one and continues throughout the year. This international
character is reinforced by:
a student body drawn from all over the world;
a faculty with expertise both in specific fields and in particular regions of the world, from both Bocconi and
other prestige universities;
the exclusive use of English throughout the programme so that an international learning environment is
established in the classroom itself.

An interdisciplinary approach

One of the distinguishing features of the MIEM programme is its interdisciplinary approach. Economics,
Business Administration, Quantitative Methods, Politics, Law, Sociology and Ethics are the disciplines that form
a corpus of knowledge in all conceptual and cultural elements essential to the modern manager.

This is reflected both in the variety of the courses and in their individual syllabuses, often taught jointly by
faculty members from different fields.

Our firm belief is that competence and the ability to manage derive from a long process where all the
fundamental dimensions necessary to face and solve problems are deepened. Broadening knowledge brings a
better understanding even of what we thought we already knew. And understanding is fundamental for
effective management.

Two important Focuses

Two areas of economics are studied in particular depth: Industry Analysis and Marketing and Money,
Banking and Finance.

This choice was carefully pondered. We are convinced that in todays global markets these areas merit special
attention. They are decisive areas for international businesses and relations. Thats why we dedicate a
significant number of sessions to them.

The Industry Analysis and Marketing Focus aims at deepening and integrating knowledge across the areas
of industrial economics, strategic management and marketing, in the context of international business
management. You will develop a personal approach to understanding the dynamics of global competition, as
well as the ability to analyse complex issues and to formulate and evaluate global business and marketing
strategies. The know-how gained in this Focus will enable you to take up careers in:
strongly globally-minded companies;
national and international competition regulation authorities;
international organisations.

The Money, Banking and Finance Focus provides you with a thorough understanding of the ins and outs of
international financial markets, international corporate finance, and portfolio management techniques. You
will also study mathematical and statistical tools in depth, including the main information technology
applications used in the financial world today. The goal of this Focus is to provide you with broad-based
knowledge that will prepare you for successful careers in finance in:
multinational corporations;
credit institutions and investment banks;
the consultancy sector;
international organisations.

The In-company Project, the International Internship or the International Research project during the fifth Phase
has to be closely linked to the Focus you have chosen. In this way, you will be able to apply, develop and
personalise the methods and content you learnt in earlier phases.

Emphasis on analysis and emphasis on synthesis

Three key aims of the MIEM programme are: In the two final phases, the MIEM programme aims
to develop your analytical skills, to develop a synthetic approach, built on the
to foster an in-depth understanding of analytical abilities strengthened in previous phases.
international business,
to allow you to master the tools that are You will develop a personal managerial approach
indispensable today in gaining cutting-edge that will allow you to investigate the competitive
knowledge and expertise in the two areas that international environment, compare opportunities
receive special focus during the programme. and identify the main strategic options open to a
global company or international institution.
In the first five phases of the programme, constant
attention is paid to the links between theory and In the end, youll be one of the few truly
practice and to the relevance of the quantitative interdisciplinary global strategists available on
and analytical tools for the daily operations of todays international recruitment market.
modern multinational corporations, financial
institutions and international organisations.

An international Master
in Milan

SDA Bocconi is in the heart of the city.

Internationalism is a way of life in Milan, its a century of history for Bocconi University, its a forma
mentis for SDA Bocconi. And its the reality of the MIEM.
With participants from about 25 countries and an authoritative and well-structured faculty, youll
have Milan for a campus and the world as your field of interest.
A Master at SDA will allow you to experience in person the Bocconi tradition of academic excellence
and recognised prestige. Youll forge relationships that will be important for your future.
And youll taste the passion, creativity, humanitas and zest for life that are the true and authentic
assets of Italy.


Its certainly no bad thing that SDA Bocconi is located in Milan, one of the leading capitals, in Europe
and in the world, for business, commerce, finance, industry, education, fashion, art, culture and
food! Milan really does have a lot to offer you.
Whats more, the Italian Alps are less than an hours drive away, and you wont need to go much
further to enjoy the Mediterranean coast with its beautiful towns and villages steeped in sun and in
Like no other Italian city, Milan is both a major world business centre and an important cultural
centre. Not only does it have more banks than almost any other city in the world, it also has the Brera
national art gallery, the Scala opera house and the Duomo, the impressive cathedral that towers over
the heart of the city. Art, theatre and film thrive here and make Milan one of the culture capitals in
Italys Wall Street, La Borsa, is not far from the School. Nor are the two most famous streets for
international fashion, Via Monte Napoleone and Via della Spiga.
Then theres the cuisine - la cucina. In Milan youll find styles of cooking from all over Italy in
innumerable restaurants, osterie, trattorie, and pizzerie.
In short, though Rome remains the seat of government, Milan is the heart and business capital of
Italy. Its a mix of tradition and history, and modern-world commercial hub. The MIEM programme at
SDA Bocconi is not just about going back to study. Its about going to seek your fortune in one of the
capitals of the cradle of western civilisation.

Galleria Vittorio Emanuele II

the Salon of Milan


The MIEM is an intensive, 13-month graduate programme

taught entirely in English, beginning in November and
ending in December of the following year. It demands
your full-time dedication: youll have no time for other
professional activities.

The programme consists of 23 Core Courses, 22 Focus

courses, a specific General Management phase, and
practical experience - an In-company Project, an
International Internship or an International Research.

Classes last an hour-and-a-half: there are 780 of them.

You are required to attend 600 sessions, 180 of them
relating to the Focus you select. There are also frequent
tutorials, workshops, and seminars.

There are two Elective Focuses, each with 11 courses:

Industry Analysis and Marketing;
Money, Banking and Finance.

The MIEM calendar is divided into seven phases, each

ending with an examination.

The first phase (August to October) is optional and aims During the fifth phase (June to mid-September) you
at establishing a common level of knowledge among further personalise your track by opting for an In-
participants, providing the fundamentals of Quantitative company Project, an International Internship, or an
Methods, Economics and Financial Accounting. International Research, closely linked to the focus chosen.
The second phase (November to December) teaches the The sixth phase (mid-September to October) moulds a
basics of Quantitative Analysis, Economics and Business General Management approach on the methodologies
Administration. and contents developed in the previous five phases.
The third phase (January to February) is dedicated to a The final phase (November to mid-December) looks in
number of interdisciplinary core courses, aimed at depth at specific international and interdisciplinary topics
providing the Fundamentals of International Economics required to manage effectively all kinds of International
and Management. Relations.
The fourth phase (March to May) offers two different Alternatively, from September you can conclude your
curricula depending on the Elective Focus chosen by each MBA with an Exchange Programme in a Business School
participant. abroad.

Programme structure
MIEM 16 Track

PHASE 1 Pre-courses Preparatory

Individual preparation

On-line Pre-courses
Aug. - Oct. 2005
On-campus Pre-courses
End of Sept. - Oct. 2005

PHASE 2 Basics Core

Acquisition of basic skills
Nov. - Dec. 2005

PHASE 3 Fundamentals Core

of International Economics
and Management
International perspectives
Jan. - Feb. 2006

PHASE 4 Two Elective Focuses Personalised 4.1 Industry Analysis and Marketing
March - May 2006
4.2 Money, Banking and Finance

PHASE 5 Projects, Interniships Personalised 5.1 In-company Project

and Research
June - mid-Sept. 2006 5.2 International Internship

5.3 International Research

PHASE 6 General Management Core

Problem solving
Mid-Sept. - Oct. 2006

PHASE 7 Two Options: Personalised 7.1 International Exchange Programme

International Exchanges (from September)
(from September) and
7.2 International Relations Management
International Relations
Nov. - mid-Dec. 2006

15 December 2006

Clubs, Horizons, Social and Sports Activities, Counselling, Career Coaching, Career Development Service, Italian
Language Courses, Seminars and Workshops, Business Communication and Presentation Skills.

Programme curriculum
August - October Quantitative Methods
Financial Accounting


November - December Quantitative Analysis
Industrial Organisation
Business Administration
Costs and Decisions
Organisation Design


January - February International Macroeconomics
International Organisations
European Integration
International Business Development
International Supply Chain Management
Organisation of the International Firm
Management of Information Systems
International Trade


Quantitative Methods for Industry Quantitative Methods for Financial Application
Analysis and Market Research Control Systems of Multinational Firms
Industrial and Technological Competition Corporate Finance
Strategy Formulation Process Financial Markets and Institutions
Strategic Marketing Investment and Uncertainty
International Marketing International Accounting
Marketing in the Networked Economy International Banking and Financial Markets
Innovation and Technology Management International Valuations and Mergers & Acquisitions
in the Global Corporation Investment Banking
International Business Law Corporate Risk Management
Analysis of Competition Policy Real Estate Management, Valuation and Finance
International Corporate Tax Policy
The Firm in its Global Environment


June - mid-September In-company Project International Internship International Research


Mid-September - October Instruments Planning Project and Process Management Turnaround - Change Management


(from September) Comparative Market Systems
International Political and Economic Relations
International Negotiation and
Cross-cultural Relations
Business Ethics for International Management
Environment, Energy and Global Sustainability
Management of International Organisations
Management of Non-governmental Organisations
Business-Government Relations Management

The programme curriculum may change if it becomes necessary to modify, substitute, or incorporate one or more offerings.

(August - October 2005) Preparatory Track
Phase 1

Individual preparation


Basic principles in Quantitative Methods, Economics, and

Financial Accounting.
This phase prepares you for the course. You may either:
work autonomously in distance learning with support material
supplied by the School from August;
attend pre-courses at the School from the end of September.

These courses are not compulsory. Participants are provided
To establish a common level of knowledge among participants with self-evaluation forms to measure their academic and
so that all have the necessary elements required to inter-relate professional backgrounds and decide whether to attend pre-
with the School environment, the faculty and the working courses to integrate or take the place of autonomous
groups. preparation.
Compulsory individual examinations assess whether candidates On the basis of the elements that emerge during the admissions
can proceed with the programme. phase, participants may be required to attend one or more
pre-courses as a condition for admission to the programme.

Pre-courses at the School There is also an optional 30-hour pre-course in Italian for
From the end of September the School offers a number of pre-
courses, complementary to the distance learning material,
which will provide candidates with basic content and specific The content of the pre-courses is described in the section
language. headed Course descriptions on page 41.

Phase 2 Core Track (November - December 2005)

Acquisition of basic skills

Core Courses

Quantitative Analysis
Industrial Organisation
Business Administration
Costs and Decisions
Organisation Design


To provide the elements needed for an in-depth

understanding of companies and industrial markets to
support both short-term and long-term decision making;
to master the fundamentals of the most widely used
quantitative concepts and techniques for support of data
analysis and managerial decisions;
to assess your ability to identify, learn and apply the different
aspects of the basic managerial tools, systems and
to identify your natural talents.

Study methods

Case Studies
Group Work

The content of the Phase 2 courses is described in the section

headed Course descriptions on page 41.

(January - February 2006) Core Track
Phase 3

Fundamentals of International
Economics and Management
International perspectives


To provide the main concepts and analytical tools needed to

understand the macroeconomic functioning of a system that
is truly open and integrated with the rest of the world,
with specific attention to the role of International
Organisations, International Agreements and to the
European Union integration process;
to introduce the processes and tools related to business
development and management in an international context;
to provide the elements necessary for an analysis of the
patterns, determinants and effects of international trade
and foreign direct investments;
to assess your ability to identify the several aspects
of the current international political and economic relations
and to take them into account in your management
decision process;
to assess your ability to identify, learn and apply the specific
approaches and techniques for managing multinational
corporations and international institutions and
to develop your awareness of the implications of the
global economy.
Core Courses

International Macroeconomics
Study methods
International Organisations
European Integration Classes
International Business Development Case Studies
International Supply Chain Management Group Work
Organisation of the International Firm Simulations and Role-playing
Management of Information Systems
International Trade The content of the Phase 3 courses is described in the section
headed Course descriptions on page 41.

Phase 4 Personalised Track (March - May 2006)

Elective Focuses
Two focus options:

4.1 Industry Analysis and Marketing - IAM

Focus Courses Objectives

Quantitative Methods for Industry Analysis and Market To provide the applied statistical techniques and modelling
Research for market research and industry analysis;
Industrial and Technological Competition to explore the dynamics of industrial and technological
Strategy Formulation Process competition at both country and company level;
Strategic Marketing to provide techniques and contents to develop your
International Marketing knowledge and talents for formulating and implementing
Marketing in the Networked Economy international marketing strategies;
Innovation and Technology Management in the Global to develop your understanding and skills related to designing
Corporation global strategies and managing international operations in
International Business Law manufacturing and service industries;
Analysis of Competition Policy to illustrate the institutional and legal framework that
International Corporate Tax Policy regulates corporate taxation, agreements among
The Firm in its Global Environment companies, mergers and international business transactions;
to develop and assess your ability to integrate knowledge
across the areas of industrial economics, strategic
management and marketing in the context of international
business management, in order to create a personal
approach to understanding the dynamics of global
competition and to develop the capacity to analyse complex
issues as well as formulate and evaluate global business and
marketing strategies.

Study methods

Case Studies
Group Work
Business Games
Simulations and Role-playing

The content of the Phase 4 IAM courses is described in the

section headed Course descriptions on page 41.

Phase 4

4.2 Money, Banking and Finance - MBF

Focus Courses Study methods

Quantitative Methods for Financial Application Classes

Control Systems of Multinational Firms Case Studies
Corporate Finance Group Work
Financial Markets and Institutions Business Games
Investment and Uncertainty Simulations and Role-playing
International Accounting
International Banking and Financial Markets The content of the Phase 4 MBF courses is described in the
International Valuations and Mergers & Acquisitions section headed Course descriptions on page 41.
Investment Banking
Corporate Risk Management
Real Estate Management, Valuation and Finance


To provide mathematical and statistical tools and techniques

for financial applications and advanced capital budgeting
and investment analysis;
to provide an understanding of existing multinational
corporations accounting and control systems, as well as
financial tools for understanding how value is created and
to explore the dynamics of the role and functioning of
international capital markets and financial institutions, with
special attention to advanced asset management;
to provide an in-depth analysis of derivatives and synthetic
securities that are playing a growing and highly
sophisticated role in managing financial risks;
to develop a markedly interdisciplinary approach to
international M&A operations;
to develop and assess your ability to integrate knowledge
across the areas of international finance and credit, in order
to create a personal approach to corporate finance and
investment banking.

Being part of one of worlds most successful banks requires hard work and the ability to deal with different people
on different issues in a very challenging and competitive environment. The turbulence and uncertainty that
have recently characterised the world's financial markets have placed a great premium on analytical ability,
flexibility, and creative problem-solving. With rapid consolidation among financial intermediaries, competition
is becoming more acute and professional standards are rising rapidly. The MIEM programme at SDA Bocconi has given
me the flexibility, the analytical skills, and a multi-task approach to respond better to the changes and challenges that
competitive markets require. Most importantly, during the MIEM programme I had the chance to meet people from
different countries who are now among my best friends.
Dario Fumagalli Vice President Equity Research, Deutsche Bank MIEM 1997

(June - mid-September 2006) Personalised Track
Phase 5

Projects, Internships and Research

This part of the programme aims at broadening your 5.1 In-company Project
knowledge and practical experience in different management
environments. Organised by the School in close cooperation Contents
with companies and financial institutions in Italy and abroad, Businesses offer you hands-on experience handling real-world
Projects, Internships and Research give you the opportunity to business challenges, plus the opportunity to put everything
apply the skills you have acquired to real business situations in youve learned in the classroom to the test. In return,
an international context. they get innovative solutions to complex problems.
Cross-national exchanges also sharpen your cultural sensitivity
when facing the challenges of international business relations. Organisation
Projects are carried out in groups of 3 to 6.
Participants work as a consulting group within the company
chosen for the project.

Work in the field with a company follows an analysis-
diagnosis-definition-solution course that leads to a holistic
view of the challenges faced by business. Your in-company
project work is based on the most advanced management
methods and techniques with assistance from one or more
faculty tutors.

June to mid-September from 8 to 14 weeks of full-time work.

Whats unique about it?

The close ties between companies and the School prove
decisive at this point in the programme. Through in-company
projects, you learn how to establish a detailed multi-week
agenda, set objectives, delegate effectively, and gain
experience of handling complex business problems that often
dont fit easily into theoretical models. You broaden your
horizons and enrich your managerial skills in the best way
possible, by using them all in a real-world context filled with
risks, consequences and rewards.
At the end of the project, youre required to present a
full report to the companys directors and the faculty
of the School, who will assess your methods and results.

Phase 5
5.2 International Internship 5.3 International Research

Contents Contents
Companies and organisations offer you the chance to assist a International organisations, including in past editions the
manager in day-by-day administration or to study in depth a European Union, the Inter-American Development Bank and
specific function related to the focus chosen. the Economic Commission for Latin America and the
Caribbean offer you the chance to investigate specific topics.
Organisation This research has been greatly appreciated by the
The internship is individual and develops and applies specific organisations concerned.
skills in a practical situation in a variety of companies and
organisations. Organisation
The research is individual and develops your specific skills and
Approach improves your competency through experience of the topic
The goal of the internship is to apply concepts developed chosen.
during the first four phases of the programme to a real
situation. You can use it to investigate new industries, new Approach
functions or different countries, you may wish to apply new The goal of the research is in-depth examination of specific
skills to areas in which you have worked before. topics of interest for an international organisation or SDA
Bocconi. Both theoretical and empirical issues can be studied.
June to mid-September from 8 to 14 weeks of full-time work. Duration
June to mid-September from 8 to 14 weeks of full-time work.

Whats unique about it?

Companies and organisations from around Europe use Whats unique about it?
internships to solve specific problems and to complete special The topics selected are always of great relevance and interest.
projects. This is also an opportunity to evaluate the This is also an opportunity to evaluate the professional and
professional and personal profile of MIEM participants and the personal profile of MIEM participants and the fit between the
fit between the student and the company. student and the international organisation.
At the end of the Internship, you must present a full report to
the companys directors and the faculty of the School, who
will assess your methods and results.



ABN Amro Diesel Hellas Merloni
Ambrosetti Egnatia Bank Milano Assicurazioni
Apple Solutions Eli Lilly New Zealand Trade
Australian Trade Commission ENEL ONU
Banca Popolare Commercio e Industria Enterprise IG Pirelli
Banca Sella European Investment Bank Platinum Guild International
BGS DArcy Fiat Auto Podravska Banka
BNP Paribas GDP Sim Saint Gobain
Carrozzeria Castagna Hugo Boss AG San Paolo IMI
Cartier International Life Shell
Central Europe Trust Investkredit Bank Sorin Group
Citibank Italcementi Group Sun Chemical
Citigroup Johnson & Johnson Swiss Capital
Coca Cola Ko Holding Swiss Federal Railways
Costa Crociere KPMG Tetra Pak
Credit Lyonnais LOral UBS
Credit Suisse Asset Management Larusmiani UNDP Nairobi
Credit Suisse First Boston Latte Milano UniCredit Banca
Daiwa Securities SMBC Lehman Brothers Unilever
Danone Germany Leo Burnett World Trade Center Lugano
De Beers Lloyds Register EMEA Wunderman
Deutsche Bank Mediaset


Comau South Africa ABN AMBRO Capital JP Morgan - Milan
Analysis of South African Government Business due diligence The Italian bond market and global
fiscal policy to provide bonuses for government bond indices
AT Kearney - Milan
the amount of company exports
Strategic globalisation Merloni International
KPMG Business plans for two key markets
Banca della Svizzera Italiana - Lugano
E-learning, Research and Analysis projects
The methodology and implementation Saiwa - Genoa
Johnson & Johnson of market risk management Promotion of some products to child targets
Competitors analysis and marketing mix
Banque Paribas - Paris Sapient - Milan
International structured financing E-business strategy
LOral Italia
Barilla Tetra Pak
Market, promotional activities and new
Export market entry strategies: the launch Participation in a global marketing-new
product launch analyses
of Barillas Mulino Bianco line in business development project
Lehman Brothers International Scandinavia
TIM - Rome
Analysis and research on the real estate
BGS DArcy - Milan, Turin Value-added services project management
International advertising campaign team
British Telecom - London Union de Banque Suisse - Zurich
Managing co-production and acquisition of
BT Internet and multimedia services Qualitative fixed income analysis
television copyrights
of German bonds
European Investment Bank
Eli Lilly
Research on the banking market of Serbia
CNS market analysis
and Montenegro.
Carrozzeria Castagna
Ford Motor Company
Marketing plan
Alternative methods of distribution
Credit Suisse Asset Management for the automotive market
Managing various activities in an asset
Johnson Wax - Milan
management company
Internet strategy for two JW products

Phase 6 (Mid-September - October 2006) Core Track

General Management
Problem solving


Project and Process Management
Turnaround Change Management

This is a markedly innovative phase for participants to learn a

global approach to company management problems.
Through analysis of important company cases participants will
how to evaluate a business environment;
how to intervene in the various phases of a process;
how to put decisions into practice;
how to manage periods of change or turnaround.

Objectives Study methods

To understand the difference between managing a function Courses

and managing a business; Case studies
to interconnect the various functions so as to understand the Group Work
links between them; Business Games
to examine the various operational levels in the life of a Simulation and Role-playing
to understand the problems of day-to-day management in a The content of Phase 6 is described in the section headed
company and direct company processes, identifying the Course descriptions on page 41.
elements that need to be watched, how they are handled
phase by phase and how they are interconnected.

The MIEM programme has a unique multidisciplinary approach. People in my class had very different
backgrounds and came from a variety of countries, which immeasurably enriched discussions during lessons.
Ive been working in consultancy since the end of the programme. In building innovative strategies, it is very important
to understand end-customers and to work closely with companies themselves. What I learned in the MIEM has
undoubtedly helped me in accomplishing these two things.
Michela Casassa Integration and Development Manager, New Europe Division, Unicredit Group MIEM 1998

(November mid-December 2006) Personalised Track
Phase 7

Two options:

International Exchanges and

International Relations Management

7.1 International Exchange Programme

(from September)

SDA Bocconi is among the major international Business Schools engaged in an active and prestigious network of exchanges,
collaboration and interaction at all levels. This network involves MIEM participants together with visiting foreign professors and
Bocconi teaching staff. The exchange programme offers a limited number of participants the chance of a high-level international

Selected candidates, after taking part in the MIEM work programme up to the Summer, finish their course in a Business School at one
of the most highly qualified foreign universities.
Participants who ask to take part in the exchange programme must demonstrate precise interests and solid motivations for going
abroad. The School will evaluate the reasons candidates for exchange put forward, and will favour those who offer guarantees that
they will obtain maximum profit from the initiative and will make a decisive contribution to the course they wish to follow. And, since
the exchange programme is an opportunity for the School to win international prestige, candidates admitted must have had an
excellent track record during the course.

Schools taking part in the Exchange Programme

Europe Sauder School of Business, The Business School (Shanghai)

IE, Instituto de Empresa (Madrid) University of British Columbia School of Economics and
MBS, Manchester Business School, (Vancouver, BC) Management, Tsinghua University
University of Manchester (Manchester) (Beijing)
RSM, Rotterdam School of Japan
Management, Erasmus Universiteit Graduate School of International This list may be subject to change.
Rotterdam (Rotterdam) Management, International University
of Japan, (Niigata)
Fisher College of Business, Ohio State Australia
University (Columbus, OH) AGSM, The Australian Graduate
Kenan - Flagler Business School, The School of Management, University
University of North Carolina (Chapel of New South Wales and University
Hill, NC) of Sydney (Sydney)
Stern School of Business, New York
University (New York, NY) Brazil
Tuck School of Business at Dartmouth FGV, Fundao Getulio Vargas,
(Hanover, NH) Escola de Administrao de Empresas
UCLA Anderson School of de So Paulo
Management, University of California
at Los Angeles (Los Angeles, CA)
CEIBS, China Europe International

Phase 7 Personalised Track

7.2 International Relations Management

Core Courses Objectives

Comparative Market Systems To provide a comparative analysis of the economic, political,

International Political and Economic Relations and legal characteristics of the major countries and regions of
International Negotiation and Cross-cultural Relations the world and their current political and economic relations;
Business Ethics for International Management to strengthen your awareness of cross-cultural dynamics and
Environment, Energy and Global Sustainability to provide you with concepts and ideas that will allow you to
Management of International Organisations handle more effectively business and personal situations in
Management of Non-governmental Organisations which different cultures meet;
Business-Government Relations Management to provide you with a thorough understanding of the ethical
issues in business, with a specific focus on environmental and
energy issues;
to identify and exploit the particular features of the
management of international and non-governmental
to provide an exhaustive framework for managing the
relations between private multinational companies and
different levels of government;
to develop and assess your ability to manage international

Study methods

Case Studies
Group Work
Simulations and Role-playing

The content of the Phase 7 courses is described in the section

headed Course descriptions on page 41

The year I spent in SDA Bocconi was the best of my life to date. Thanks to the MIEM programme, I
studied in the amazing city of Milan, worked in London (De Beers Group), studied in New York (Stern
School of Business, New York University) and made friends from all over the world. Without a doubt, SDA
Bocconi provided me with an added value in the job market. Now working for Exxon Mobil, I can say that this
international programme, taught by a world-class faculty, not only developed my intellectual capabilities but also,
most importantly, sharpened my human qualities. And it is mostly the latter that will make all the difference in the
success of my professional and personal life.
Pierre-Jean Hanard Credit Risk Analyst Belgium, The Netherlands and Luxemburg, Exxon Mobil Group MIEM 2002

The learning environment

Teachers from both School and Bocconi University faculties collaborate in the MIEM programme. An important
contribution is also made by visiting professors from prestige Italian and foreign universities and business
schools, as well as by representatives of major international companies, financial institutions and organisations.

Teaching methods
The analytical and interdisciplinary bias of the programme makes it necessary to supplement traditional
teaching with projects, business games, simulation exercises, and lectures on international case studies. The
small class size permits profitable exchanges with classmates and facilitates the use of interactive teaching
methods. The goal is to stimulate your interpersonal skills in small groups and international environments.
What is essential is your readiness to develop your analytical capacities and open yourself to a truly
multidisciplinary approach that involves not only economic variables but also social, political, and legal issues.

The MIEM a unique teaching mix and all-round evaluation

Lectures: 32%
Case study: 20%
Team projects: 15%
Simulations: 10%
Experiential Learning: 15%
Distance learning: 8%
Total: 100%

The teamwork method

Working in a multi-cultural environment is the best kind of experience for a manager looking for an
international career. During any phase of the MIEM programme, you have the real sensation of being an
important, contributing, and motivating part of the whole. You become a changed person, thanks to your
encounters with men and women of intellectual and experiential calibre beyond the norm and all equally
motivated in reaching the common objective. In the SDA Bocconi MIEM youre expected to have a knack for
working in groups: discussion, involvement, and responsibility are the first three words of an ideal common
vocabulary that everyone has to master. By enriching your basic lexicon day after day, you become more
capable of preparing your work on your own, of searching out discussion as a way to test your skills and define
your dominant interests.

A life-changing experience is a definite understatement. I walked into the MIEM with a Liberal Arts degree and four years of
non-business related work experience. I walked out of the MIEM with a business Masters degree, a marketing job in a
multinational company, and a set of life-long friends strewn all over the globe.
The MIEM prepared me for a career in the business world by offering stimulating courses in all relevant areas taught by top-notch
professors. Moreover, the setting for the MIEM was the captivating city of Milan and my companions in this adventure were fifty-five
incredibly knowledgeable, bright, and enthusiastic students from all over the world.
Lisa Ricci Brand Manager Beauty Care Western Europe,Procter & Gamble, Geneva MIEM 1996

You receive a grade for each course on a scale from 1 to 5. The course grades are based on mid-term and final examinations as well
as on class performance, research papers and case preparation. At the end of the third phase, your progress is reviewed in order to
decide whether or not you should continue the programme. The grading of the Internship/Project report carries special weight in the
overall evaluation of your performance. Students who complete the programme with satisfactory overall grades are awarded the
degree of MIEM - Specialised MBA in International Economics and Management. In cases of exceptional academic performance, the
degree is conferred cum laude.

Learning Tools and Facilities

The support facilities open to you in the MIEM programme include a building with 11 classrooms with multimedia support and roughly
80 areas set aside for work groups. You get your own personal mailbox on the computer network. This service is to be used for official
communications between you and the staff/faculty, between you and other participants, and for Internet research access. As part of
a significant investment in its computer facilities, SDA Bocconi has set up a wireless network at 18 Via Balilla that allows e-mailing
and access to the Internet and the Schools LAN connection. Please note that youll need to have your own laptop. Also provided is a
free database consultation service, accessible via Internet and via the universitys network with contents relating to economics and the
financial sector, running a business, management, and strategic planning. The library at Bocconi University, with more than a half
million volumes and over 7,000 periodicals, is one of the largest and most specialised in the world dealing with business and

On the MIEM, its all MIEM

Activities parallel and complementary to phases 2-7

Alongside all class activities and personal study there are many complementary initiatives which are an
important part of your MIEM curriculum.
You will take part in activities out of class and out of hours seminars, workshops, clubs, sports and social
activities, meetings and events, and Italian language courses that will give you a sense of belonging to the
MIEM community and will forge friendships and valuable contacts.
Expert help will be on hand to support you as you grow: teachers, tutors and visiting professors from Italy and
from the leading international universities and business schools; a dedicated staff; consultants, entrepreneurs
and company managers.
As youll see in the following pages, all this is intertwined with studying and lessons during Phases 2-7 of the
programme. And itll offer you in-depth knowledge, stimulus and provocation.

Seminars and Workshops

In the two Focuses offered, the rich and complex curriculum of the MIEM programme offers you opportunities
for reflection on current innovative trends. Seminars and workshops provide windows on what the areas of
change in the international competitive arena in the near and distant future are likely to be.

Business Communication and Presentation Skills

The MIEM programme helps you develop communication skills for job applications and interviews. It offers
seminars and consultation on writing CVs and preparing and handling interviews.
There are also workshops explaining the qualities recruiters are looking for and how you can best demonstrate
these qualities. You receive guidelines and one-on-one consultancy, including the simulation of interviews with
comprehensive feedback. In addition, the MIEM programme offers seminars designed to help you make
informative and convincing presentations to advance your career. Youll learn how to structure a business
presentation, maximise impact, perform convincingly and confidently, and handle audience questions

Italian language courses

You are expected to attend Italian for Foreigners language classes in order to be able to deal with everyday
working situations in the Italian language. Intensive pre-courses are also offered before the programme starts.

During the MIEM you will have access to the Counselling service provided by qualified experts. In person-to-
person meetings, they will help you to recognise and satisfy your desires and natural talents. You will develop
decision-making autonomy and negotiating abilities to prepare you for your future career. You will analyse
strong and weak points, talents and interests to shed light on the direction in which to point your talents and
your aspirations.
Thanks to the training, counselling and individual attention the School can guarantee you, you will be in a
position to choose the right road without being tied to any pre-established career model.


The MBA broadens your perspective on the world, opening new doors with the Horizons series, in which youll
meet personalities from the most varied sectors. Visiting speakers illustrate their experience, and give students
insight into the development of leadership in a vast variety of fields.
The meetings alternate between three tracks of enquiry and discovery:
Management & Finance
Economics & Government
Culture & Society.

Interaction between Horizons guests and Master participants is an opportunity to broaden your view of the
world. Youll be able to pick up the creative drive and enthusiasm that made these speakers successful.

The Horizons meetings are reserved for MBA and MIEM students. Booking in advance, Alumni and candidates
who have already applied for the next edition of the programmes can also attend, creating a further bond
between past, present and future students.

Horizons guests 2003/2004 Affairs Section, National Defence and Commerce

Division, Congressional Research - USA
EMANUELE ANGELIDIS, Chief Executive Officer FastWeb
GUY AUGER, Director Dell Denmark Pharmaceutical Research Company
DENNIS J.BAVA, Professor, Franklin College GENE GNOCCHI, Comedian
FLAVIO BRIATORE, General Manager, Renault F1 Team ANDREA GRANELLI, Executive Vice President, Telecom
GIANFILIPPO CUNEO, Cuneo&Associati Italia, Venture Capital & Innovation Division
GIANANDREA DE BERNARDIS, Chief Executive Officer SERGIO IASI, Director, International Canal
TeamSystem FABRIZIO LANDI, General Manager, ESAOTE
DEBORA HIRSCH, Alumnus MBA 19, Artist Gen. DANIEL LEAF, Commander 31st Squadron, United
STEFANO MICOSSI, Chief Managing Director, Assonime States Air Force
ROBERTO NICASTRO, Deputy COO, UCI Group and Head EDOARDO LECALDANO, Founder, Alice Ventures
of Retail Banking, UniCredit Banca ENRICO LETTA, Industry Minister
VICENZO NOVARI, Chief Executive Officer, H3G FRANCESCO MINOLI, CEO, Pomellato SpA
Past Horizons guests have included:* Pirelli Cavi e Sistemi
EDWARD ALTMAN, Vice Director, Stern School of CARLO NOCERINO, Milan Court of the Republic Judge
Business, NY University UMBERTO PELIZZARI, Athlete sponsored
FABIO AUSENDA, Natura - E by No Limits Sector
MASSIMO BRUNELLI, Executive VP and CFO ENEL ELSERINO PIOL, Pino Venture Partners
FRANCESCO CAIO, CEO, Merloni Elettrodomestici ENRICO RUGGERI, Singer, singer-songwriter
GIORGIO CEFIS, Managing Director, SMI (Italian BEPPE SEVERGNINI, Corriere della Sera,
Metalworkers Association) The Economist
Operations, Wind Gialappas band (entertainers)
BRUNO CRIMI, Foreign Correspondent with Panorama OLIVIERO TOSCANI, Photographer
GIANFILIPPO CUNEO, Cuneo & Associati STEFANO VOLPI, Marketing Director, Panzani Pates et
Sauces Fraiches France
yachtsmen SEBASTIAN ZACHARIA, Managing Director, IDM
PAUL GALLIS, Section Head, European/Asian Foreign * Guests job titles are those current at the time of speaking

Theres much more to the MIEM

Clubs Business Plan Competition

The Masters Division Clubs are an inseparable part of your This tough annual competition organised by the Entrepreneurship Club
experience at SDA Bocconi. was started by INSEAD and the London Business School. Teams of four
They are an ideal way for participants to get together to work on must draw up and present a plan for starting a new business. Since 2003
projects in specific areas: Management Consulting, Finance, SDA Bocconi has been a member of the foundation of European
Marketing, Entrepreneurship, Sailing, Golf, Divino Club (wine, Business Schools that organises the event.
culture and tradition), but also Ethica (on themes of Corporate and
Social Responsibility), or ICT (on Information and Communication Benefit Event
Technology), the latest Clubs formed. The aim of the Clubs is to Charity fund raising organised each year by all the SDA Bocconi
promote ideas and encourage mutually beneficial exchanges with Master participants. SDA Bocconi is recognised as UNICEF
companies. Ambassador for the initiatives organised by past MBA classes.
The Clubs are privileged observatories and laboratories of new
trends. They are also a training ground for putting into practice what A Journal for the SDA Bocconi Community
you have learned on the course, as each Club is an organisation that This publication, with the support of a team of Italian and foreign
demands managerial abilities (seeking finance, drawing up business students, aims to be a channel of communication for all MBAs, past and
plans, press and company relations etc.). present, of the SDA Bocconi. It is also a valuable contribution to didactic
Club activities make a considerable contribution to the Programme, activity and a chance to grow in human and professional terms.
both in terms of the quality of the activities organised events,
discussions, seminars, publications, newsletters, regattas and in Ski Weekend
terms of the high profile of the guests. All the Clubs have close A weekend in Courmayeur, usually in March, with skiing
connections with the SDA Bocconi Alumni Association, which is yet competitions between SDA Bocconi participants and groups of
another reason for taking part! alumni, teachers and staff members.

Cross-Curricular Activities International Business School Regatta

Alongside all the events promoted by the Clubs are several cross- This regatta off the Isle of Wight is held each year at the end of July. Crews
curricular activities. What are normally called extracurricular of 15 from leading business schools in Europe and the United States take
activities are in Bocconi an important part of your MIEM part. Last but not least, two yeas ago, the SDA Bocconi Sailing Team won
curriculum. They are training/cultural, game playing or team- the cup, coming first in all five races.
building activities to which you can make your contribution. You In the wake of this success, the students decided to launch and
can make yourself visible, take a trip abroad under the aegis of organise the MBAs Cup-Mediterranean Regatta and Conference.
SDA Bocconi, make contacts and friends. It will certainly be The event aims to bring together students and alumni of the worlds
enjoyable and add value to your MIEM experience. most important business schools with managers from leading Italian
and international organisations to exchange ideas and management
European MBA Tournament culture, bonded by their enthusiasm for sailing.
The European MBA Tournament takes place every year in the first
weekend of June at the HEC near Paris a kind of Olympics for And also
participants in Europes leading MBA programmes. Soccer and Golf competitions, Sailing Weekend, etc.

The Alumni

Being Alumni Membership is free for those currently taking a Master's at

The Alumni are one of the greatest assets of Business Schools SDA Bocconi, who become members automatically from the
throughout the world. start of their course, whereas Alumni are offered a variety of
The success of former students is a matter of pride for us, and modes of association or membership renewal status, including
helps build the success of the school and new generations of honourary, sustainer, financier, student, and founder.
The reputation of the SDA Bocconi means being able to enjoy The Alumni Centre (
the best resources and talents, and thus offer top-ranking Run by the School, the new centre's activities focus on Alumni
courses and the best prospects for the future. This creates a and students currently taking their Master's at SDA Bocconi,
close-knit, widespread network of people who feel that their and on the Alumni Association.
education helped to build their personal and professional The services offered by the Centre include an online directory, a
qualities. This is why many alumni bear high and with pride the calendar of events, newsletters, a mentoring programme,
name of their alma mater, SDA Bocconi. meetings facility, Chapter and club management, lifelong email
subscription, and many other activities.
Alumni network
About 3,500 managers in leading companies all over the world
are SDA Bocconi MBA and MIEM Alumni .
The Alumni network will always be there to exchange opinions The things that I cherish the most about the
as you did during your months at the School. This will let you
MBA are the true and profound friendships
that were created over those months.
create privileged relationships with the corporate world and
with your company and those of your colleagues. These ties will That experience was so all-involving that after only
be kept alive through meetings and regular events. a few days, everyones real personality was clear to all, in
The SDA Bocconi MIEM tradition, supported by all Alumni, is a way that left no room for doubt, thus making it possible
ensured through direct participation in the planning of each to build companionship (but also dislikes) that have
edition of the MIEM programme, with ideas and suggestions, lasted over the years.
and during the teaching process itself with testimonials from
This is the essence of the network of Master alumni, shared
Alumni of their managerial and business experiences.
by all those who have had this experience and making
The Alumni also help in meeting prospective candidates,
them "equals" and also perhaps accomplices, overcoming
admissions interviews and in recruiting participants in various the generation gaps between the various courses.
countries. As MIEM ambassadors, they take part in forums, This is the essence of the Alumni Association, based
conferences and other initiatives designed to promote the on the intimate bond that exists between the Master
image of the SDA Bocconi MIEM in different economic and graduates and that is consolidated through it.
social contexts, in Italy and worldwide. The Alumni network is
also a valuable source of job opportunities.
The new Master Association of the Bocconi School of
Management takes into account the great growth of the
School in recent years and must show itself able to compete
SDA Bocconi Master Alumni Association with the other major international Business Schools.
( The association strengthens the bonds in this great
An umbrella association that combines alumni from all the community represented by SDA graduates, the companies
various Master's programmes held at the SDA Bocconi, in which they work and the University. Because this is
from MBAs in general management, to specialist degrees. precisely the bond that enables the School to grow more
The mission is to foster and consolidate networking among and more, and thus increase the prestige of those who have
had the privilege and honour to be part of it.
Alumni, and relations between the Alumni and the School itself
in order to strengthen SDA Bocconi's profile on the realms of
economy, finance, and national and international business. Marco Saltalamacchia, MBA 12, President, BMW Italia
A non-profit organization, the Association is devised for Alumni SDA Bocconi Master Alumni Association - President
members who thereby give support and feedback to the School
in the multiple activities it carries.

Career Development Service (CDS)

During the MIEM, you will have access to and participate in a multitude of contacts. In this network, the Career
Development Service (CDS) is the pivot between companies and MIEM students, who are involved both individually and
as a class. One CDS programme for students consists of 1-to-1 advice, and there is a constant stream of initiatives
designed for the classes and for the business community.

Both approaches provide assistance to ensure the assertion of personal skills and aptitudes, using innovative
strategies for job hunting, helping you cope with uncertainty and with working in multicultural environments,
showing you how to negotiate successfully and manage interpersonal relationships to your best advantage.
The CDS accompanies you all the way through the MIEM course, putting you in contact with the business
community in a number of different ways.

CDS 1-to-1
At SDA Bocconi the individual is always the centre of attention. This starts with the Help Centre and
acceptance of the applications, and continues throughout the selection process. It is an essential part of the
MIEM programme and is at the heart of the complementary services of Counselling and Career Coaching,
which are based on evaluation and self-assessment.
Counselling enables students to understand their own vocational profile through in-depth talks so that they
can better orient their own professional preferences. With a greater understanding of your capabilities, you
can work out better personal strategies.
Career Coaching gives the student targeted and pragmatic assistance for drawing up a career plan, drafting a
CV and cover letter, and creating a targeted strategy for network building to ensure that the job they find
satisfies their personal aspirations.

The CDS and MIEM classes

The CDS organises discussion groups and seminars on topics such as:
CV and cover letter,
Market scenarios, which industries, which functions
Interview skills and interview simulation
Presentation skills and case study presentation
To give the MIEM students as many contacts as possible, the CDS organises numerous events and opportunities
for meeting companies: these include Company Days, presentations, roundtables and personal testimonials.
Many of these companies have been working with SDA Bocconi for a number of years. If you have the chance
of a significant in-company experience during your MIEM, this is through the CDS. Internships and group
projects are special experiences and placement opportunities.

Born in New York City, I was raised between Europe and the US and wanted to work in the very same
way. With the MIEM, SDA Bocconi presented a program that met these career goals by providing an ideal
environment to network and learn in a truly international atmosphere. Our student body and professors were
from all over the world. The experience was unlike any other. After completing the MIEM program in 1995, I began
work with an Italian specialty chemicals firm out of Veneto. I was the firm's US Agent and General Manager by
contract. This opportunity opened the door to other clients. I now run my own business bridging the needs of
European firms into US markets. I highly recommend SDA Bocconi's international programmes.
Donald Daly Consultant, Mitchell, Maxwell and Jackson, Inc., New York MIEM 1995

The CDS and Recruiting
On the one hand, a MIEM graduate you in the future; on the other, management positions in companies
and institutions. To aid effective contact, the CDS has produced some specific tools: CV Book, Job Posting,
Company presentation and on-campus recruiting.

CV Book
This is an annual publication with the CVs of all students, structured to highlight the selling proposition of each
profile. It is sent to about 600 companies, both Italian and international and an online version is available for
partner companies.

Job posting
Thanks to special relations with many companies, the CDS co-ordinates job postings by distributing the job
offers and working alongside the partner companies in the various recruitment phases up to job interviews.

Recruiting on campus
On-campus recruiting is one of the means that companies and MIEM participants consider the best for getting
to know and assess each other. Each year in February-April, companies interested in involving the participants
in individual or group projects come on campus.
The most intense activities of recruiting for permanent positions take place after the summer: part of
September through to the end of November is dedicated to Company Days, meetings in which the company
presents itself to the students and illustrates the positions open to MIEM graduates. These are followed up by
contacts and job interviews.

International Weeks
These events give an insight into the culture, economy and leading companies in some of the countries
represented in the class, and include informal discussions between managers and students.

Although it is commonly believed that American Masters programs are superior, there are specific benefits to
studying in Europe. These benefits go beyond the classroom and are a key aspect in the professional development of
international leaders. My experience during the MIEM program has been one of the most rewarding due to the personal and
professional opportunities that come with attending a top-ranked European business school alongside some of the brightest
international students. This experience has been further enriched by the network of MIEM alumni all over the world that
create the basis for the complete transformation from the theoretical environment of university life to the practical environment
of a chosen profession.
Stacey Williams Consultant, Valdani & Vicari MIEM 1998

Recruiting Companies

Consumer Goods Poste Italiane Assicurazioni Generali

Barilla Renaix Banca IMI
Carrefour Russell Reynolds Associates Banca Intesa
Coca Cola Spencer Stuart Banca Nazionale del Lavoro
Danone Spenglerfox Banca Popolare di Lodi
FATER TMP Worldwide Banca Sella
Johnson & Johnson Trevisearch Bank of America
Johnson Wax Weathernews Barclays Capital
LIDL Italia Bear, Stearns International
Saipo L'Oral Industrial Borsa Italiana
Sanyo Air Products Citigroup
Sony Bombardier Transportation Clarima
Soremartec (Gruppo Ferrero) Candy Credem
ELFICOLD Credit Suisse First Boston
Chemicals FMC Technologies Deutsche Bank
Baxter GE Nuovo Pignone Dresdner Kleinwort Wasserstein
Bayer GE Oil & Gas E-capital Partners
Bristol-Myers Squibb Hilti Faber Factor
Eli Lilly Lafarge Roofing Fineco Group
Ethicon Merloni Elettrodomestici Fitch Ratings
Guidant Merloni Termosanitari Goldman Sachs
Janssen-Cilag Pirelli Gruppo RAS
Merck Sharp & Dohme Techint IFC - World Bank Group
Schering Plough Tenaris ING Group
Whirlpool JP Morgan Chase
Automotive Lazard
BMW Information Technology Lehman Brothers
Citron IBM Merril Lynch
Ferrari Intel Moody's Investor Service
FIAT Quadrics Morgan Stanley
Ford Italia Patrimonio dello Stato
Ford Motor Company Energy And Utilities Pirelli Real Estate
Societ Europea Autocaravan Air Liquide SACE
Enel San Paolo IMI
Fashion, Clothing, Sportwear EDIPOWER UBP
Adidas EDISON UBS Warburg
Dolce & Gabbana GE Oil & Gas UniCredit Banca
Fendi Total
Larusmiani Shell Consultancy
Levis Strauss Europe A.T. Kearney
Lotto Transport And Logistics Accenture
Loro Piana Air France Altran Italia
Nike Costa Crociere Ambrosetti
Safilo Danzas Management Analysys Consulting
Gruppo Lauro Arthur D. Little
Services Meridiana Cap Gemini Ernst & Young
AC Nielsen Trenitalia Deloitte
Athena Research Electrowatt Ekono
Boyden International Telecommunications/Entertainment Europraxis Consulting
Bravo Solution British Telecom GSC Proxitalia
Cabinet Rossignol Tod et Associs Cinecitt Kpmg Management Consulting
Christopher Beale Associates Limited Ericsson Telecomunicazioni Improvance
Daniela Rossi & Associati H3G Masai Italia
Deutsche Post Worldnet Motorola Mc Kinsey & Company Italia
Eric Salmon & Partners Nokia Mercer Management Consulting
Executive Surf Telecom Italia P&E Consulting
Future Step Italia Telecom Lab PriceWaterhouseCoopers
Heidrik&Struggles TIM Telecom Italia Mobile Roland Berger Strategy Consultants
Hobson International Swisscom Eurospot Solving International
HR Gardens Vodafone The Boston Consulting Group
Key2People Wind Valdani Vicari & Associati
Korn Ferry International Value Partners
Mercuri Urval Banks/Financial Services Venture Consulting
Michael Page Italia American Express
Morris Linney ANIA

(last year edition)

By Sector

Banking/Finance: 37%

Industrial Products: 21%

Consulting: 11%

Services: 5%

IT/Telecommunication/Media: 11%

Consumer Goods: 5%

Energy & Utilities: 8%

Public sector: 2%

By Function

Finance: 35%
Marketing/sales: 30%

Consulting: 11%

International Relations: 5%

Accounting & Control: 5%

Information Systems: 5%

Other: 9%

By Location

Italy: 42%

Europe: 45%

Extra-Europe: 13%

Time to find position

Within one month from graduation: 45%

Within three months from graduation: 80%

Today, Barilla is competing in the world arena for leadership in its market. To reach this objective we are in
search of excellence in the field of human resources, the true key to success. We have found this excellence in
the MIEM, an MBA programme that sets out to prepare the global managers of the future. Motivation, an
international mindset, the willingness to face new professional and intellectual challenges: this is the winning profile of
the MIEM participants who have joined our European subsidiaries in the past two years.

Alberto Bolognesi International H.R. Manager, Barilla Alimentare

The commitment

Our MIEM requires that you give all your time and your utmost intellectual and emotional commitment to the
programme. There is no time for any sort of job outside the programme. Attendance is mandatory for the five
weekdays, but the commitment goes beyond the classroom and individual study time. Youre called upon to
make a significant contribution to work groups, maintaining at all times a high level of attention and
involvement. Progress is noticeable and can be measured. Youll feel enriched by a unique experience: the
continuous exchange of information, ongoing dialogues with the worlds of business and research, teachers
and colleagues from a wide range of countries and cultures in open discussions without pat resolutions.

Costs and Tuition

The time commitment required by mandatory attendance, plus your studies and the relatively few chances for
vacation time, all make it impossible to hold down an outside job in any profession while attending the MIEM.
That said, when calculating costs youll need to keep in mind:
1) application fee: 100
2) course costs: 27,500, which include:
tuition fees
all regular programme classes
hand-out teaching materials (excluding some texts that must be purchased separately)
access to the fixed and wireless SDA Bocconi net
use of the School desktop PCs
access to the Schools databases
first year membership to the Alumni Association
access to all services and networking contacts provided by the School Alumni Centre
3) pre-courses, Italian for Foreigners courses: 445/each; on-line pre-courses: 290/each.
4) personal expenses: allow 1,300 a month.
This is based on the cost of living in Milan, comparable to that in any major European city, and works out
roughly to:

housing*: 700
meals: 300
transportation: 50
miscellaneous: 250
Total: 1,300

Financing the MIEM

Admission to the SDA Bocconi MIEM programme is in no way dependent on your being awarded a study grant.
Youre encouraged to seek financial aid opportunities in your country of origin, such as sponsorship by the company
where youve worked (or will work), or by private foundations, international bodies, or local governments.
During the programme, partial scholarships are awarded to those who achieve excellent results either in their
academic work or their contribution to classroom activities.
SDA Bocconi, thanks to an agreement with some prestige Italian banks, offers low-interest loans both to Italian
and foreign candidates.
In addition, most banks in every country offer subsidised loans for post-graduate career-targeted study programmes.
For more information, consult our website:

* Housing
Relevant information will be supplied to participants by the end of August, together with teaching materials for
the Pre-course phase and other organisational information.

The selection and admissions process

The MIEM programme is open to university graduates of all disciplines, with some work experience, who wish
to prepare for an international management career.
The School selects candidates from a wide range of academic, cultural and professional backgrounds. This
diversity of approaches, culture and experience enriches the learning process for both individuals and groups.
The typical MIEM class is composed of 50 graduates with a first-class academic record and a significant
international background.
Many have an economics degree, though other disciplines are well represented. They come from
approximately 25 different countries and have varied professional experiences. Candidates with limited
previous work experience will be considered only in exceptional cases: they must have outstanding academic
credentials and clear evidence of maturity and personal commitment.

A typical MIEM Class

50 participants Age
Average age: 27 <25 6%
25 - 26 35%
Average work experience:
27 - 28 34%
3.5 years
29 - 30 18%
Average GMAT score: 650 >30 7%
Average no. of languages spoken: 4
Work experience
85% International students
< 2 years 19%
15% Italian students
2 3 years 36%
4 6 years 30%
Nationality > 6 years 15%
Non-European 39%
European 46% Knowledge of languages
Italian 15% 3 languages 23%
4 languages 42%
Degree 5 languages 23%
Economics 62% 6 languages 12%
Engineering 12%
Humanities 10% Sex
Law/Political Science 8% Female 48%
Science 8% Male 52%

Countries represented in the past 2 editions:

Argentina Croatia Ireland Nigeria South Africa USA

Austria England Italy Norway Spain Venezuela
Bulgaria France Japan Peru Sweden Yugoslavia
Canada Germany Malta Romania Switzerland
Chile Greece Mexico Russia Thailand
Costa Rica Holland Moldavia Slovenia Turkey

Admissions Criteria

The MIEM Course is open to candidates:

with a degree in any discipline;
with at least 2 years work experience.

These requisites should also be accompanied by:

good quantitative skills;
good academic record;
an international background;
constant eagerness to learn;
clear motivation;
good ability to relate and communicate.

All these factors are evaluated during the selection process through the analysis of the application form, CV,
university transcripts, GMAT, TOEFL/TOEIC/IELTS, reference letters, interview.
The selection process aims to determine how well suited you may be to the SDA MIEM programme and how
well the programme responds to your needs. That is why admission to the programme is a very selective and
rigorous process. And since the School believes deeply in the uniqueness of the MIEM programme, candidates
are expected to share the Schools vision even before applying for admission. We encourage you to read this
brochure cover to cover and take part in a School orientation session.

Selection Process

The selection process is based on an overall evaluation of various, equally important factors. You must obtain
high results in every single variable. Factors considered in candidate selection:

1. Application This must be completed carefully, so as to supply information on personal and professional
experiences, on your reason for wanting to attend the programme, and on other aspects of your personality.
Precision in filling out the application is an important element in our evaluation process.

2. Academic and professional history SDA Bocconi MIEM is for graduates in any discipline with at least 2
years of work experience. Applicants are requested to include a detailed CV - rsum

3. Two references These must be from people who know you well enough academically and/or professionally
to permit a full evaluation of your pre-candidature performance and the identification of your profile.

4. Interview In order to evaluate those qualities which are difficult to assess by analysing the written
application, separate documents, curriculum and tests, the Admissions Committee may invite a candidate for
a personal interview.

5. Proficiency in English All applicants must have good written and spoken English. If English is not your mother
tongue, you must take a test (unless your university degree course was taught exclusively in English). We accept

6. GMAT This test, in English, evaluates your quantitative, verbal, and analytical skills. It is used by the worlds
leading business schools as an indicator of whether or not youll maximise your academic experience. Though there
is no required minimum score for admission, bear in mind that the average score for the last MIEM class was 650.

How to Apply

The final deadline for all Admissions Application is: 30 May, 2005.
The selection process begins in January 2005 and ends in July 2005.

Admissions applications are evaluated throughout the year with the following deadlines.

deadline deadline deadline

Completed application to SDA Bocconi by: January 31 March 15 May 30
Decision by: February 28 April 15 June 29

We encourage candidates to apply early. This will give them better chances of admission.
Once all requirements have been fulfilled, the candidate will be notified by letter of the Selection Committees decision.
The Admissions Office will provide the candidate with an answer by one of the dates indicated above.

You may apply in one of two ways:

by completing the application form (on paper or in a PDF file) and submitting it together with the required documents;
by applying online at and submitting the required documents separately by mail.

We advise candidates to complete the online application so that they will be able to monitor the status of their candidacy during
the selection process more easily

Once you are ready with your application and documentation you must send everything to:

SDA Bocconi, Masters Division

MIEM Admissions Office
Via Balilla, 18
20136 Milan - Italy
Tel:++39 025836.3228/3213/3297/3299
Fax:++39 025836.3275/3272

For further detailed admissions information, please consult the application form included with this brochure.

Help Centre
You can get valuable help in orienting yourself from our Help Centre: call ++39 025836.3278-3125 from 9:00 to 13:00, Monday
to Friday, or e-mail

MIEM at a glance

Features of the programme: Structure and methods:

strongly international: taught entirely in English;
a management programme without frontiers; 13 months, full time;
highly interdisciplinary: Economics, Business Administration, 23 core courses, 11 focus courses,
Quantitative Methods, Political Science, Business Law, 600 one-and-half-hour sessions;
Sociology and Ethics; in-company projects, international internships, international
two Elective Focuses: Industry Analysis and Marketing, research;
Money, Banking and Finance; exchange programme;
emphasis on analysis in the first phases and a solid kernel of teaching through lectures, supplemented
on synthesis in the final ones. by international case-study projects, simulation exercises,
and information technology applications.

The typical class:

50 students, graduates with international experience;
15% Italians, 85% from approx. 25 other countries.

Career opportunities:
managers for international careers within private
or public enterprises, financial institutions
or international organisations.

A typical MIEM week

Monday Tuesday Wednesday Thursday Friday

24 Feb. 2004 25 Feb. 2004 26 Feb. 2004 27 Feb. 2004 28 Feb. 2004

8.30-10.00 International International International Organisation of the International

Macroeconomics Organisations Business Development International Firm Oganisations

10.15-11.45 International International International Organisation of the International

Macroeconomics Organisations Business Development International Firm Oganisations

12.00-13.30 Organisation of the Organisation of the International International International

International Firm International Firm Macroeconomics Business Development Macroeconomics

14.30-16.00 Organisation of the Organisation of the International International International

International Firm International Firm Macroeconomics Business Development Macroeconomics

16.15-17.45 Italian Beginners CDS: Company Italian Italian Beginners

Presentation Intermediate

18.00-19.30 SAILING CLUB: Italian Elementary HORIZONS


Course descriptions

PRE-COURSES Costs and Decisions organisations and, therefore, with an

The course offers insights on costing impact on organisation design. Participants
Economics methodologies and techniques of cost will be introduced to the external influences
The course provides an introduction to both analysis to support both short-term and (technical, strategic, cultural and
Microeconomic and Macroeconomic theory. long-term decision making.Traditional and institutional) that induce changes in the
The Microeconomics sessions deal with the contemporary costing methodologies will organisation structures of companies, and
theory of supply and demand, the theory be illustrated, together with a set of tools some particular features of multinational
of consumer behaviour, and an analysis of and techniques for the operating and corporations. At the end of the course you
production costs, as well as introducing strategic analysis of costs. The focus in the should be able to start recognising different
price and output determination in situations course is on the users perspectives so as to organisation structures and understanding
of pure competition, pure monopoly show how cost information can inspire cost how they affect employee behaviour, as
and monopolistic competition. management. well as understanding what would be
The lectures on Macroeconomics focus expected from you in such an
mainly on the workings of the economic Finance organisational environment; recognising the
system and the determination of The course is designed to provide you with limits of human rationality and how these
macroeconomic variables (aggregate the fundamental elements and tools of limits influence the way in which specific
output, interest rates, consumption, corporate finance. It will first focus on organisation structures can be defined;
investment demand, general price level, analysis of financial statements and of the understanding the impact of context-
inflation, etc.) in a closed economy. financial indicators crucial to understanding related variables on organisational design
the current situation of multinational choices; understanding how different
Financial Accounting companies. Then, it will concentrate on institutional/rational contexts affect
The course is designed to provide an financial ratio analysis, cash flow organisations.
understanding of the fundamentals of preparation and discussion, and financial
accounting in relation to decision-making planning and programming. Quantitative Analysis
processes, focusing on users of accounting The course enables you to master the
information at all levels. Industrial Organisation fundamentals of the most widely used
Principles of both financial and cost The course provides the elements necessary quantitative concepts and techniques for
accounting are taught. for in-depth understanding of industrial support of data analysis and managerial
The course aims to enable you to read and markets and their driving forces. To this decisions. These include project
meaningfully interpret financial statements end, it focuses on the analysis of management tools, basic financial
prepared by business entities for both companies, with particular attention for mathematics, decision criteria in
internal and external reporting purposes. their strategic behaviour, and market uncertainty, risk aversion, optimal allocation
analysis from both a static and a dynamic of limited resources, statistical analysis of
Quantitative Methods point of view. The last part of the course is data, forecasting, multi-objective and
The course provides an introduction to devoted to industry dynamics and their multi-criteria decision tools. More advanced
basic quantitative techniques and tools. main determinants, with particular applications and methodologies are covered
The topics covered include: basic concepts attention to the role played by technology. later in the programme by the courses
of Probability and Statistics, Index Numbers, Analysis that links structural variables, in quantitative methods in the Elective
a review of basic Algebraic Calculus and corporate behaviour, and business and Focuses.
Geometry, Linear and Matrix Algebra, industry performance is also developed.
and Analytic Calculus for economic and
managerial applications. Marketing
This course provides an overview of CORE COURSES: FUNDAMENTALS
marketing management in modern OF INTERNATIONAL ECONOMICS
organisations. The objective is to provide AND MANAGEMENT
CORE COURSES: BASICS students with a broad introduction to
marketing concepts, the role of marketing European Integration
Business Administration in society and in the firm, and the various The course discusses the overall profile of
The course introduces the basic models factors that influence marketing decision- the European Union. The first section
and theories of companies, industries making. In addition, the course helps to provides an in-depth analysis of European
and the interaction between them. develop insight about creative selection of Institutions, the effects of European
The course is built around a dynamic target markets, and blending decisions regulations and their bearing on national
and systemic representation of the related to product, price, promotion and laws, the international relations of member
company-industry interaction that place (the marketing mix), to meet the countries, and common foreign policy.
highlights five key dimensions needs of a target market. Areas covered in A series of economic sessions then illustrates
for Business Administration: the course include: market research, market the theoretical and empirical importance of
the competitive arena in which the segmentation, target marketing, consumer the economic impact of integration, the
company operates; the products or services and industrial purchasing behaviour, macroeconomic and industrial impact of
with which the firm competes; the structure product development, channel strategy, European Monetary Union and the likely
of the company; its shareholder promotional strategies, pricing issues. consequences of its extension to Central and
environment; and shareholder policies. East European countries.
For each of the five dimensions, the main Organisation Design
tools and models will be introduced. The course is designed to give participants International Business Development
The course makes extensive use of cases an understanding of the fundamental The course introduces the processes and
for classroom discussion and exercises. processes affecting behaviour in tools related to business development

in an international context. The course is competition. It then provides some general countries. An outline is given of industrial
structured around the methods for explanatory models of the patterns and and technological competition in Europe,
evaluating the practical and economic direction of international trade between the United States and Japan, as well as
feasibility of new business ventures such as advanced industrialised countries and between these regions and newly-
start-ups, entry into new markets or new between advanced and less developed industrialised and less developed countries.
product launches. Emphasis is given to nations. Finally, it explores the major types The course then examines the major
introducing the tools that can support this and the most relevant effects of determinants of industrial competitiveness
process. These include how to write a commercial and protectionist policies. and technological innovation, the diffusion
business plan and how to present the plan of new technologies within companies,
for external or corporate support. Management of Information Systems sectors, and countries, and international
Participants will be asked to write a This course develops knowledge and skills technology transfer. The main
business plan for a business development for evaluation of business initiatives which distinguishing features of various national
project as part of the course. involve information and communications systems of innovation are also discussed.
technologies. The focus is on principles and Finally, the course deals with the
International Macroeconomics methods which business managers characteristics and effects of public policies
This course presents the main concepts and can apply to make effective decisions to support technological innovation and
analytical tools needed to understand the in a rapidly changing technological diffusion in Europe, the United States and
macroeconomic functioning of a system environment. You develop knowledge Japan, as well as in some less developed
that is truly open and integrated with of technologies such as the Internet; the countries.
the rest of the world. Open economy nature and business context of significant
macro-models are illustrated, with special information systems, including those that Innovation and Technology
emphasis on the effects of monetary and support knowledge management and Management in the Global Corporation
fiscal policies in different exchange rate electronic commerce; structures and roles The course is a natural continuation of the
regimes and on theories of exchange rate for management of information systems International Supply Chain Management
determination. Several lectures are devoted in international firms; and methods for course. The objective here is to develop
to macroeconomic case studies. The case keeping up to date with developments students understanding and skills related
method teaches you how to summarise in this field. Most topics are introduced to designing global strategies and
relevant information on a given country in through case studies which also develop managing international operations in
an effective way that helps in decision skills in the use of technology and analysis manufacturing and service industries.
making. of information systems initiatives Among the critical issues examined are
and evaluation of IT-based business keeping international expansion under
International Organisations opportunities. control, implementing successful
This course has a legal focus and illustrates transnational alliances, mobilising people
the basic features of international Organisation of the International Firm and correctly managing expatriates. The
organisations, highlighting their role as This course covers models needed for course makes extensive use of cases for
prime movers of cooperation in understanding and managing the classroom discussion and exercises.
international relations today. Institutions organisation of a company moving towards
such as GATT and WTO and their roles in globalisation or which is already fully International Business Law
the regulation of international trade are international. It is devoted to the analysis An introduction to basic concepts of private
covered. In this context, the relevance of of the most efficient and effective commercial law with discussion of some of
the multilateral trading system for private international organisational frameworks the legal aspects of international business
parties is illustrated with respect to the and aims to illustrate the design of transactions, including national and
movement of goods, services, investments organisational structures, centralisation and international controls of transnational
and payments, and to dispute settlement coordination mechanisms, relationships business operations. The course also
procedures. Recent developments and their between parent companies and explores international commercial law and
relevance for international business subsidiaries, coalitions and joint ventures. conflicts/regulations, including uniform
operations are also examined. The organisational consequences of treaty law. These themes are then applied
globalisation strategies on company to the different methods of doing business
International Supply Chain structure are also analysed. abroad, such as sales, licensing agreements,
Management and the establishment and operation of
The course is divided into two main production units. Dispute settlement
sections. The first focuses on the principal methods are also examined, together with
ways of organising production and supply ELECTIVE FOCUS: INDUSTRY the public regulation of international
chain management. The second looks more ANALYSIS AND MARKETING business such as import-export controls,
closely at management aspects, analysing currency controls, and extra-territorial
and comparing the most efficient Analysis of Competition Policy applications of economic laws.
techniques for operations management The course presents the main features of
(flexibility, total quality management, competition policy from the legal and International Corporate Tax Policy
just-in-time, etc.) and inbound/outbound economic perspectives. The main issues The course is in two parts. The first
logistics in an international environment. covered in competition policy will be illustrates the basic concepts and
The aim of the course is to enable you discussed with reference to the European institutional aspects of corporate taxation in
to understand how a production Union and Italy: regulation of mergers, various industrialised countries, with special
organisation system works. execution of agreements between emphasis on the European Union and its
companies, and abuse of a dominant evolving fiscal regulations. The second
International Trade position. For each of the three main areas, discusses the main aspects of tax planning
The course aims at providing the elements the legal situation, the economic in a multinational enterprise and the classic
necessary for analysis of: the patterns, justification, and relevant case studies will techniques for minimising the tax burden:
determinants, and effects of international be considered. transfer-pricing, including the choice of
trade within imperfectly competitive or location for holding companies, treaty
oligopolistic markets; foreign direct Industrial and Technological shopping, etc.
investments and international agreements, Competition
and government trade policies. The course The aim here is to discuss and analyse the International Marketing
first discusses the major trends and issues dynamics of industrial and technological The course deals with managerial problems
of contemporary international trade and competition between both companies and relating to the formulation and

implementation of marketing strategies in it is possible to identify six main steps in exercises and case studies will attempt to
the international arena. Through lectures the strategy formulation process. These are: clarify the basic economic meaning of the
and case discussions, you will be exposed identifying the business issue; segmenting instruments and techniques presented.
to different approaches concerning subjects and analysing the structural characteristics
such as: international segmentation and of the industry; identifying and appraising Financial Markets and Institutions
global positioning, entry strategies in available resources; defining the strategy; The course discusses the functioning of
foreign markets, global brand strategy implementation; evaluation of international capital markets. The role and
management, and international advertising results and performance. The course globalisation of financial systems, the
strategies of multinational corporations. introduces the tools and models that functioning of the banking system
support the strategy formulation process. (commercial banks, investment banks,
Marketing in the Networked Economy The course makes extensive use of cases for mutual banks etc.) and of the non-bank
The objectives of this course are to provide classroom discussion and exercises. financial institutions, the markets for
you with an understanding of the various types of financial assets,
marketing process in Internet companies, The Firm in its Global Environment Euromarkets, and the process of unification
equip you with the conceptual frameworks The course demonstrates how to integrate of European capital markets are among the
and analytical tools that companies need to knowledge across the areas of industrial topics covered.
manage their relationships with customers economics, strategic management and
on line, and enhance your ability to apply marketing, in the context of international International Accounting
such tools through a group project aimed business management. It uses a The course builds awareness of problems of
at the creation of an Internet marketing multidisciplinary approach. This comparison and integration of different
plan. Themes central to the course are: interfunctional view provides a deeper accounting systems and standards. The
analysis of the Internet market; understanding of complex international presentation and illustration of differences
segmentation, targeting, and positioning business issues by addressing different, among the most widely used accounting
on the Internet; the marketing mix on-line. though complementary, levels of analysis. systems and standards will be the most
Among various features highlighted are: The knowledge acquired is consolidated important theme of the course. In
new technologies in customer management and expanded to create an overall particular, European Union regulations on
tools for mapping competitors on the web; framework for understanding the dynamics accounting and external reporting
using the Internet in research; identifying of global competition, as well as for requirements will be analysed in depth.
the most effective target groups; and the developing the ability to analyse complex During the course, strong emphasis will
use of virtual communities in collaborative issues and formulate and evaluate global also be placed on the reactions of financial
product development. business and marketing strategies. markets to differences in accounting
policies and standards.
Quantitative Methods for Industry
Analysis and Market Research International Banking and
This course deals with applied statistical ELECTIVE FOCUS: MONEY, Financial Markets
techniques and modelling for Market BANKING AND FINANCE How does a multinational corporation raise
Research and Industry Analysis. Main topics funds internationally? What do we mean by
are: Control Systems of Multinational Firms global asset allocation? What are derivative
qualitative and quantitative market The course is designed to provide an products for? What is riskmetrics and
research structuring and implementation; understanding of fundamentals of control how do banks manage risks? These are
survey and sampling techniques and of multinationals. In all business some of the questions addressed during
estimates; organisations, managers need information this course. A very practical approach based
panel data collection and analysis; to make decisions, plan and control. In on case studies, simulations, and examples
univariate and multivariate data analysis multinationals, the control system plays a drawn from real life will be used to
techniques (time series, cross-sectional crucial role in coordinating the behaviour of introduce you to the activities
analysis, simple and multiple regression, those in charge of different, geographically of an international investment bank.
etc.) for customer, product, brand, dispersed parts of the business. In the
company, and competitive positioning, context of international companies, the International Valuations and Mergers
sector analysis, and demand assessment; course offers insights on how to diagnose & Acquisitions
marketing model building and simulation; the effectiveness of an existing control The course discusses international M&A
using statistical software for data analysis, system, how to design a new control operations with a decidedly interdisciplinary
market data mining; system and how to implement it. approach. After introductory sessions
industry analysis. dealing with objectives and strategic
Corporate Finance determinants of M&As, organisational
Strategic Marketing Maximising the value of the firm is the issues are presented, followed by several
The course is a natural continuation of the objective underlying all managerial actions sessions on legal and tax aspects:
basic Marketing course. The aim is to taken in a company. negotiations and pre-contractual
examine strategic marketing-related issues This course presents the financial tools that arrangements, share-purchase agreements,
and solutions to problems arising from will enable you to understand how value is corporate reorganisations and tax-efficient
competition with products or services in an created and measured. financing acquisitions, etc.
increasingly complex and competitive The valuation of investments and of The last part of the course is devoted to
environment. The course also aims to financial alternatives, the financial structure the corporate finance aspects of M&A,
develop your skills in establishing and of the company, and financial planning and such as alternative methods of valuation
evaluating marketing plans, strategies and strategies are among the topics covered. and financing. In each section of the
action programmes. To this end you will course, ample time is dedicated to case
take part in a business game requiring you Corporate Risk Management discussion and testimonials from corporate
to make specific marketing decisions. This course deals with derivative and managers and consultants.
synthetic securities, which are playing a
Strategy Formulation Process growing and highly sophisticated role in Investment Banking
This course introduces the tools used to managing financial risks. The Investment Banking course deals with
support the formulation and Options and futures are described with some relevant hot topics in the financial
implementation of a strategy. Although special reference to both markets and services industry, building on the Finance
there is no academic consensus on the corporate strategies. Finally, hedging course. Substantial attention is devoted to
right sequence for formulating strategy, strategies are introduced. A number of advanced asset management, including

asset allocation techniques, performance in the first four phases and already applied International Negotiation
evaluation, style analysis, and absolute and in the personalised track of phase 5. The and Cross-cultural Relations
relative risk measurement and aim is to develop a global approach to the The course is designed to strengthen your
management. The impact of Internet stock problems of company management. awareness of cross-cultural dynamics and
trading and mutual fund distribution on the The track is built around Case Studies, to provide you with concepts and ideas
financial services industry is also analysed. Team Work, Business Games, Simulations to better handle business and personal
and Role-playing. situations in which two or more different
Investment and Uncertainty cultures meet.
The course provides an introduction to The general assumption underlying this
advanced capital budgeting tools, with course is that any relationship between
special reference to instruments for CORE COURSES: INTERNATIONAL people is influenced by ones own cultural
evaluating investment opportunities in RELATIONS MANAGEMENT stereotypes about other cultures.
conditions of uncertainty. The course is in By becoming consciously aware of these
two parts. The first focuses on investment Business Ethics for International stereotypes, one can use the stereotypes
analysis under uncertainty, Risk-adjusted vs. Management properly without being biased by them.
Decision-analysis tools (decision trees with The course provides students with a
and without risk aversion, general thorough understanding of the ethical International Political
modelling, and Montecarlo simulation, issues in the business arena. and Economic Relations
etc.), and applications for investment More specifically, it aims at increasing The course has both a political and an
analysis. The second part introduces the awareness of a wide range of ethical economic focus and provides the analytical
Real Options approach to capital challenges that often arise in business-to- tools necessary to understand the complex
investments and provides a model for business and business-to-government dynamics of the international system.
evaluating strategic opportunities due to relations and at developing skills and It offers the theoretical background needed
investment projects. competencies useful for tackling ethical to understand current international political
problems. relations and looks at the main problems
Quantitative Methods for Financial Different approaches are considered in a and issues influencing global trends and
Application perspective that looks at both classical selected regional developments.
The course covers mathematical and writers in philosophical ethics and players in It also examines the political economics
statistical tools and techniques for financial the business arena. of international finance, and issues
applications, as well as software tools to concerning trade barriers, tariffs and
support and complement other courses Business-Government Relations trilateral relations.
belonging to the Focus. The main topics are: Management The course uses theoretical alternatives of
standard loan repayment schemes and Managing multinational companies liberalism, dependency and
leasing; necessarily involves relations with neomercantilism to assess competing views
interest rates and time horizons: time government institutions of all kinds. This is of the global economy.
structure of interest rates (spot, forward, a source of several problems but also of In addition, theories of cooperation
period, etc.); important opportunities. focusing on international regime change
interest rate risk for fixed return assets The course looks specifically at themes provide a means to examine international
and other deterministic cash flows: relating to the management of relations institutions in trade and finance.
duration, volatility, convexity, hedging, etc.; between business and provincial, regional
basic portfolio management and asset and national public administrations and Management of International
valuation models, single and multiple international organisations. Organisations
indices: capital asset pricing model, Different approaches are illustrated and The course provides students with the
arbitrage pricing theory, estimation and examined in depth, with international case knowledge needed to manage
use of Beta coefficients; studies of particular relevance. international organisations and institutions.
period and multi-period returns for The specific aspects of this particular kind
securities, single assets, and portfolios; Comparative Market Systems of management are analysed in depth so
direct and risk-adjusted indices; The course consists of a number of sessions as to develop the skills necessary for
options, futures, swaps, and other on the major countries and regions of the dealing successfully with the complex
financial derivatives pricing and world. problems and drastic changes imposed
evaluation. These courses examine the economic, by the new international arena,
political, and legal characteristics of the where cooperation and integration
Real Estate Management, geographic areas, and provide a are becoming more and more relevant
Valuation and Finance comparative analysis of their productive for a sustainable growth.
Here, the topic is the real estate market, the and financial structures in the light of The course makes extensive use of cases
largest market in the world and one whose recent developments. for classroom discussion and exercises.
trends affect any companys value in a Emphasis is placed on how competitive
significant way. It focuses on capital strategies are developed at a national and Management of Non-governmental
budgeting and valuation of real estate regional level. Organisations
investments and their financing. Several case The course makes extensive use of cases The course focuses on the management
studies will be discussed, in order to facilitate for classroom discussion and exercises. of NGOs and examines both internal
the comprehension of the topics presented organisational aspects and external
and to analyse and compare the Italian, Environment, Energy and relations with international organisations
European and American real estate markets. Global Sustainability and profit institutions.
The course analyses significant The main topics discussed are: general
environmental and energy issues currently theories of NGO management, tackling
facing multinational corporations and problems of accountability, management
CORE COURSES: government agencies. Sustainable of project planning and evaluation,
GENERAL MANAGEMENT development, pollution prevention, urban implementation in the field,
sprawl and brown fields, resource efficiency and relationships with donors,
The General Management track is made up and global climate change are among the governmental institutions, local
of a number of theoretical and applied topics looked at in depth. communities and private business.
modules designed to bring out and The course makes extensive use of cases The course makes extensive use of cases
synthetically integrate the elements studied for classroom discussion and exercises. for classroom discussion and exercises.

The Faculty

The Faculty of the MBA in International Economics and Management programme is drawn from Bocconi University and from other
institutions around the world with which Bocconi has established Faculty Exchange Programmes. The most recent editions have

Internal Faculty Roberto Tasca Financial Markets and Institutions

Luigi V. Tava Quantitative Methods
Barbara Alemanni Financial Markets and Institutions Lucilla Tealdi Finance
Carlo Altomonte Economics Sergio Venturini Quantitative Methods
Maria Rosa Battaggion Economics Gianmario Verona Marketing
Gabriella Bagnato Organisation Laura Zoni Accounting and Control
Paola Bielli Information Systems
Armando Borghi Real Estate Finance
Alberto Brugnoli Economics Visiting Faculty
Franco Bruni Economics
Gheula Canarutto Accounting and Control Vinod Aggarwal University of California at
Berkeley, Political Science
Vincenzo Capizzi Financial Markets and Institutions
Eleonora Cattaneo Marketing Dennis Bava Graduate School of Business Tec
de Monterrey, Campus Santa Fe,
Federico Chiavazza Real Estate Finance International Management
Giuseppe Delmestri Organisation Frderick Choi New York University, Accounting
Paul De Sury Financial Markets and Institutions and Control
Claudio Dordi International Business Law Beverly Crawford University of California at
Berkeley, International Political
Mikkel Draebye Strategy
Carlo Filippini Economics
Sean Gaffney Stockholm School of Economics,
Paolo Graziano Political Science Intercultural Communications
David Jarach Marketing and Management

Rodolfo Helg Economics Carlo Galli Consultant, Studio Maisto,

Fiscal Law
Marco Maffezzoli Economics
Jane Klobas Curtin University of Technology,
Gaia Marchisio Strategy
School of Media & Information,
Davide Maspero Financial Markets and Institutions Perth (Australia),
Alberto Micalizzi Finance Information Systems

Corrado Molteni Economics Patrick Llerena University Louis Pasteur,

Strasbourg, Economics
Luca Molteni Quantitative Methods
Gianmaria Martini Universit di Bergamo,
Fabio Montobbio Economics Engineering Department
Giacomo Morri Real Estate Finance Herv Mathe Essec School of Management,
Cinzia Parolini Strategy Paris, Universit Paris XI
Dauphine, Technology
Francesco Passarelli Economics
Emanuela Prandelli Marketing Karim Medjad Groupe HEC, International
Business Law
Dolly Predovic Finance
Viswanathan Indian Institute of Management,
Barbara Rovetta Finance Raghunathan Ahmedabad (India), Finance
Carlo Scarpa Economics Nicholas Vonortas The George Washington
Giacomo Silvestri Organisation University, Economics
Claudia Tamarowski Finance

SDA Bocconi and
the Masters Division
SDA Bocconi Masters Division
Severino Salvemini, President
Maurizio Dallocchio, Dean Programme Directors
Andrea Gasparri, Managing Director MBA, Valter Lazzari
Evening MBA, Giorgio Lazzaro
Executive Board Part-time MBA, Roberto Don
Franco Amigoni MIEM Specialised MBA, Alberto Brugnoli
Elio Borgonovi
Maurizio Dallocchio Operations Manager
Giuseppe Ferrari Lucia Benedetti
Carlo Filippini
Andrea Gasparri Functional staff
Giovanni Pavese
Severino Salvemini
Rossana Camera, Dafina Dicheva, Elena Ruffinazzi
Carlo Secchi

Executive Committee
Antonella Carpani, Orietta Pagliardini, Francesca Roveda, Laura Russo
Bruno Busacca
Maurizio Dallocchio
Student and Internal Relations
Giacomo De Laurentis
Simone Consonni, Daniela Miglioli
Andrea Gasparri
Alberto Grando
Administration and Logistics
Giovanni Valotti
Giancarlo Fusco, Claudia Pecoraro

Management Board
Career Development Service
Enzo Baglieri, Director of Operation and Technology Management
Manuela Barazzetti, Emanuela Innocente, Maria Luisa Ortini, Debora Usai
Luigi Arturo Bianchi, Director of Law Department
Alfredo Biffi, Director of Information Systems Department
Luisa Negri
Bruno Busacca, Director of Corporate Executive Education Division
Sandro Castaldo, Director of Marketing Department
Programme Staff
Renzo Cenciarini, Director of Corporate Finance and Real Estate
Erika Barani, Elena Barbera, Clelia Bergna, Monica Cappi, Maria Grazia
Gramazio, Loredana Pizzigoni, Carla Redaelli, Susanna Rossi, Claudia Ruffo
Valter Conca, Director of Human Resources Development
Maurizio Dallocchio, Dean
Giacomo De Laurentis, Director of Banking and Insurance Department
Andrea Dossi, Director of Accounting and Management Control
Pier Luigi Fabrizi, Director of Banks, Financial Institutions and Insurance
Companies Division
Andrea Gasparri, Managing Director
Fabrizio Pezzani, Director of Public Administration, Health Care
and Non-profit Division
Severino Salvemini, President
Lanfranco Senn, Director of Economics Department
Andrea Sironi, Director of Research Division
Giuseppe Soda, Director of Organisation and Human Resources
Management Department
Luigi Tava, Director of Quantitative Methods Department
Giovanni Valotti, Director of Public Administration and Health Care
Federico Visconti, Director of Strategic and Entrepreneurial Management

MIEM at ease

All application materials 13 months full time
should be sent to:
Admissions Office admission deadlines (rolling process): Jan. 31, Mar. 15, May 30, 2005
SDA Bocconi pre-courses: start September 26, 2005
Masters Division programme: starts November 3, 2005; ends December 15, 2006
Via Balilla, 18 - 20136
MILAN - Italy Admission requirements
application form
You may also apply a degree in any discipline

on-line through two years work experience TOEFL/TOEIC/IELTS certificate

GMAT certificate

application fee: 100
programme costs: 27.500
pre-courses (optional): on-campus 445 each; on-line 290 each

Milan city centre

Thanks to our MIEM students for their suggestions, testimonials and the photographs contained in
this brochure.

How to reach SDA Bocconi















M1 V.le B




Via CU







V.le SA











Via R.








65 Via O.

DE 30






C.SO P.ta

Viale TOSC

Via BA














29 I
9 LD



PORT 9 29

30 C.



SDA Bocconi - Main Building






65 SDA Bocconi - Masters Division

A7 A1

SDA Bocconi
The School of Management of Bocconi University
SDA Bocconi has been Bocconi Universitys School of Management since 1971. It is the leading school in Italy and one of the most
prestigious in the world.
A faculty with academic excellence and professional expertise works with SDA Bocconi in about 1,000 executive courses every year.
No other school organises such a vast range of state-of-the art courses taught by staff with real, hands-on management and business

MBA Master of Business Administration

MIEM Specialised MBA in International Economics and Management
13 months full time with two focuses: marketing and finance. Four fifths of participants come from abroad. In English, for graduates
and managers oriented towards multinational corporations, international financial institutions and international organisations.

14 months full time. One class in English and one in Italian, participants from about 30 countries. Designed for graduates with some
years work experience. A challenging course in general management.

24 months alternating distance learning and six on-campus modules. For those who do not want to move to Milan or leave their job.

Evening course
Three evenings a week for 27 months, plus some Fridays and Saturdays full time. Held in Italian, the course lets you combine MBA
study with your job.

Bocconi University in brief

Fields of study 9 short 3-year graduate courses:
Business Administration; Management of Public Administration and International Institutions;
Institutions and Financial Markets Management; Law and Business Administration; Economics and
Management of Arts, Culture and Communication; Economic and Social Sciences; Economics of
International Markets and New Technologies; International Economics and Management; Law.
Subjects taught more than 300.
Research 2 departments, 10 institutes, 23 centres.
Postgraduate studies 19 Pre-experience Masters, 9 Specialisation Courses, 7 Research Doctorates.
Teaching staff more than 1,300.
Courses about 1,000.
Students more than 12,000.

For more information on Bocconi University activities, e-mail

or visit our website:

*Information valid at the time of printing

SDA Bocconi
Masters Division UCI
Via Balilla, 18
20136 MILAN

tel. ++39 025836.3125/3278/3287/3281/3298

fax ++39 025836.3293



European Quality
Improvement System

Associazione per la Formazione

alla Direzione Aziendale
(Italian Association for Management Education Development)


European Foundation
for Management Development

Association to Advance
Collegiate Schools of Business

European Academy of Business

in Society

European Corporate Governance Institute