[Coat of Arms:

Nueva Granada
Military University]

The head of the Admissions, Registry, and Academic Control Office

of the Nueva Granada Military University
(authorized by Resolution 12975 of July 23, 1982)
TIN 800.225.340-8

Certifies that
Maria Nancy Sepúlveda Baracaldo —whose ID number is 53.159.481 (issued in Bogotá
D.C.), and whose student ID number is 2.100.375— took the subjects here presented. It is worth
saying that these subjects represent her education process in the academic program of Economy
(Bogotá), and cover the following academic terms: 2003-2, 2004-1, 2004-2, 2005-1, 2005-2,
2006-1, 2006-2, 2007-1, 2008-1, and 2008-2 (from first semester to nineth semester). Her
grades and the number of hours per week are presented below:

First Semester
2003-2 Lecture: Nueva Granada University 3h per week A Approved
2003-2 Digital Economy I 6h per week 4,5 Four point five
2003-2 Economy I: 12h per week 3,9 Three point nine
Introduction to Economics
2003-2 Mathematics I 12h per week 3,0 Three point zero
2003-2 Study Methodology 9h per week 4,0 Four point zero
2003-2 Constitutional Principles 6h per week 4,7 Four point seven

Second Semester
2004-1 Digital Economy II 6h per week 4,0 Four point zero
2004-1 Statistics I 12h per week 3,2 Three point two
2004-1 Extension Course: 2h per week A Approved
Culture and Sports
2004-1 Mathematics II 12h per week 2,8 Two point eight
2004-1 Mathematics II 12h per week 3,9 Three point nine
2004-1 Research Methodology 12h per week 3,1 Three point one
2004-1 Microeconomics I 12h per week 3,0 Three point zero

Third Semester
2004-2 Accounting I: 9h per week 3,9 Three point nine
Introduction to Accounting
2004-2 Digital Economy III 6h per week 3,8 Three point eight
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2004-2 Epistemology 6h per week 3,2 Three point two
2004-2 Statistics II 9h per week 3,1 Three point one
2004-2 Mathematics III 12h per week 3,0 Three point zero
2004-2 Microeconomics II 12h per week 3,0 Three point zero

Fourth Semester
2005-1 Economic Anthropology 2 cred 2h/w 4,2 Four point two
2005-1 Accounting II: 3 cred 3h/w 3,9 Three point nine
Accounting Theory
2005-1 Digital Economy IV 2 cred 2h/w 3,9 Three point nine
2005-1 Statistics III 2 cred 2h/w 3,0 Three point zero
2005-1 Macroeconomics I 4 cred 4h/w 3,0 Three point zero
2005-1 Financial Mathematics 3 cred 3h/w 3,0 Three point zero
2005-1 Mathematics IV 3 cred 3h/w 3,1 Three point one

Fifth Semester
2005-2 Financial Analysis 3 cred 3h/w 3,6 Three point six
2005-2 Econometrics 4 cred 4h/w 3,1 Three point one
2005-2 Mathematical Economics 3 cred 3h/w 4,0 Four point zero
2005-2 Economic Research I 2 cred 2h/w 3,6 Three point six
2005-2 Macroeconomics II 4 cred 4h/w 3,2 Three point two
2005-2 Colombian Sociology 2 cred 2h/w 3,1 Three point one

Sixth Semester
2006-1 Commercial Law 2 cred 2h/w 3,8 Three point eight
2006-1 Economic Research II 2 cred 2h/w 3,2 Three point two
2006-1 Econometric Models 4 cred 4h/w 3,0 Three point zero
2006-1 Projects I 4 cred 4h/w 3,4 Three point four
2006-1 Fiscal Theory 3 cred 3h/w 2,5 Two point five
2006-1 Monetary Theory 3 cred 3h/w 3,2 Three point two
2006-1 Fiscal Theory 3 cred 3h/w 3,6 Three point six

Seventh Semester
2006-2 Labor Law 2 cred 2h/w 4,0 Four point zero
2006-2 Economic Doctrines 3 cred 3h/w 3,4 Three point four
2006-2 Economic Research III 2 cred 2h/w 3,2 Three point two
2006-2 Projects II 4 cred 4h/w 4,4 Four point four
2006-2 Economic Development 4 cred 4h/w 4,0 Four point zero
2006-2 Colombia’s Economic History 3 cred 3h/w 4,3 Four point three

Eighth Semester
2006-2 Tax Law 2 cred 2h/w 4,0 Four point zero
2007-1 Economic Planning 3 cred 9h/w 3,1 Three point one
 2008-1 International Economy 4 cred 4h/w 3,1 Three point one
2008-1 Economic Research IV 2 cred 2h/w 2,8 Two point eight
2008-1 Economic Policy 4 cred 4h/w 3,0 Three point zero
2008-1 Decision Theory 3 cred 3h/w 3,0 Three point three
2008-2 Economic Research IV 2 cred 2h/w 3,1 Three point one

Nineth Semester
2007-1 Elective Subject on International 3 cred 3h/w 3,9 Three point nine
Issues: Economic Globalization
2007-1 Undergraduate Seminar 2 cred 2h/w 3,9 Three point nine
2008-1 Elective Subject on International 4 cred 4h/w 3,9 Three point nine
Issues: International Finance
2008-2 Elective Subject on International 4 cred 4h/w 4,1 Four point one
Issues: International Business
2008-2 Professional Ethics 2 cred 2h/w 4,2 Four point two
2008-2 Financial Management 4 cred 4h/w 3,3 Three point three

* The number of hours per week refers the academic hours in accordance with the credit system (Decree 1295 of
2010, Chapter 4, issued by the National Ministry of Education).

The student achieved a grade point average (GPA) of 3,50 (three point fifty).
This document is issued at the request of the interested party.
Given in Bogotá D.C., on September 10, 2021.

[Signature]
Colonel (RA) Ariel Ramiro Gaitán Quiroga
Head of the Admissions, Registry, and Academic Control Office

Minimum grade for undergraduate and postgraduate programs: 0,0 (zero point zero)
Maximum grade for undergraduate and postgraduate programs: 5,0 (five point zero)

Minimum passing grade for undergraduate programs: 3,0 (three point zero)
Minimum passing grade for postgraduate programs: 3,5 (three point five)

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----------------------------------------------- This certificate ends here --------------------------------------

Carrera 11 #101 – 80 Bogotá | PBX: (571) 650 00 00, extensions 1155 and 1159
Email: certificados.registro@unimilitar.edu.co *
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Bogotá – Cundinamarca – Colombia – South America