Bachelor's degree

subject area 
university type - Italy  
university status  
Rome, Italy

Statistics, Economics, Finance and Insurance

Statistica, economia, finanza e assicurazioni

Language: ItalianStudies in Italian
Subject area: mathematics and statistics
University website:
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainties and risks. Finance can also be defined as the science of money management. Market participants aim to price assets based on their risk level, fundamental value, and their expected rate of return. Finance can be broken into three sub-categories: public finance, corporate finance and personal finance.
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
Statistics is a branch of mathematics dealing with the collection, analysis, interpretation, presentation, and organization of data. In applying statistics to, for example, a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model process to be studied. Populations can be diverse topics such as "all people living in a country" or "every atom composing a crystal". Statistics deals with all aspects of data including the planning of data collection in terms of the design of surveys and experiments. See glossary of probability and statistics.
It is true that the theory of our Constitution is, that all taxes are paid voluntarily; that our government is a mutual insurance company, voluntarily entered into by the people with each other; that each man makes a free and purely voluntary contract with all others who are parties to the Constitution, to pay so much money for so much protection, the same as he does with any other insurance company; and that he is just as free not to be protected, and not to pay any tax, as he is to pay a tax, and be protected.
Lysander Spooner, No Treason (1867–1870), No. VI: The Constitution of No Authority (1870), pp. 12–13.
Although its evolution in the United States differed markedly from that of applied mathematics, statistics, too, benefited from the presence of the emigres and from the overall war effort. After a protracted period of professional differentiation from the social scientists and from the social sciences, mathematical statisticians had formed their own society, the Institute of Mathematical Statistics (IMS), in 1935. By 1938, the IMS had also taken over responsibility for the Annals of Mathematical Statistics, a journal that had been founded in 1929 to serve the needs of the more mathematically and theoretically inclined statistical practitioners. Thus, when refugees like Neyman, William Feller, Mark Kac, and Abraham Wald took up positions in the United States at Berkeley, Brown, Cornell, and Columbia, respectively, they were able to participate in a young, but viable, community of mathematical statisticians.
Karen Hunger Parshall, "Perspectives on American Mathematics", Bulletin of the American Mathematical Society (2000) 37: 381–405.
The individual source of the statistics may easily be the weakest link. Harold Cox tells a story of his life as a young man in India. He quoted some statistics to a Judge, an Englishman, and a very good fellow. His friend said, Cox, when you are a bit older, you will not quote Indian statistics with that assurance. The Government are very keen on amassing statistics—they collect them, add them, raise them to the nth power, take the cube root and prepare wonderful diagrams. But what you must never forget is that every one of those figures comes in the first instance from the chowty dar [chowkidar] (village watchman), who just puts down what he damn pleases.
Josiah Stamp, recounting a story from Harold Cox, Some Economic Factors in Modern Life (1929), p. 258.

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