International Teaching | ECONOMIC EVALUATION OF INDUSTRIAL BUSINESS AND ASSETS

cod. 0622800041

ECONOMIC EVALUATION OF INDUSTRIAL BUSINESS AND ASSETS

	0622800041
	DEPARTMENT OF INDUSTRIAL ENGINEERING
	EQF7
	FOOD ENGINEERING
	2025/2026

PERCORSO FOOD ENGINEERING Cohort 2024/2025

	OBBLIGATORIO
	YEAR OF COURSE 2
	YEAR OF DIDACTIC SYSTEM 2024
	AUTUMN SEMESTER

TEACHING UNITS

	SSD	CFU	HOURS	ACTIVITY	TYPE OF ACTIVITY
	ICAR/22	6	60	LESSONS	SUPPLEMENTARY COMPULSORY SUBJECTS

	Objectives
	GENERAL OBJECTIVES TEACHING AIMS TO PROVIDE STUDENTS WITH KNOWLEDGE OF BUSINESS CONTEXTS AND BUSINESS CULTURE; TO ENABLE THEM TO DEVELOP SKILLS IN THE PRINCIPLES AND PROCEDURES USEFUL FOR MAKING ECONOMIC-FINANCIAL EVALUATIONS AND DRAFTING FEASIBILITY STUDIES REGARDING PLANTS AND ESTABLISHMENTS FOR INDUSTRIAL ACTIVITIES; TO MAKE THEM AWARE OF ENVIRONMENTAL AND SOCIAL IMPACTS. KNOWLEDGE AND UNDERSTANDING THE STUDENT WILL ACQUIRE THE TAXONOMY SPECIFIC TO BUSINESS CONTEXTS AND BUSINESS CULTURE, WITH PARTICULAR REFERENCE TO THE AGRIBUSINESS INDUSTRY. WILL BE ABLE TO UNDERSTAND TECHNICAL TEXTS THAT USE THE VOCABULARY OF THE APPRAISAL DISCIPLINE, OPERATIONAL LOGIC AND THE MOST IMPORTANT REGULATIONS IN THE APPRAISAL/EVALUATION FIELD. APPLYING KNOWLEDGE AND UNDERSTANDING KNOW THE SOURCES WHICH PROVIDE THE DATA FOR THE ESTIMATES, KNOW HOW TO READ AND UNDERSTAND DOCUMENTS AND INFORMATION TO USE IN THE ASSESSMENT, BE ABLE TO TRANSLATE IN A TECHNICAL DOCUMENT (SURVEY OR OTHERWISE) THE PHASES OF ESTIMATE JUDGMENT. MAKING JUDGMENTS BE ABLE TO IDENTIFY THE PRACTICAL REASON ESTABLISHED BY THE QUERY, TO SELECT THE ESTIMATE PROCEDURE AS A FUNCTION OF DATA AVAILABILITY AND OF LEGAL-ECONOMIC CHARACTERISTICS OF THE REAL ESTATE WHICH ARE SUBJECT MATTER OF THE EVALUATION. COMMUNICATION SKILLS KNOWING HOW TO INTERACT WITH EXPERTS FROM OTHER DISCIPLINES, COMMUNICATING THE RESULTS OF YOUR WORK IN CLEAR AND EFFECTIVE TERMS. LEARNING SKILLS BEING ABLE TO APPLY METHODOLOGICAL PRINCIPLES TO THE MULTIPLE AND DIFFERENT AREAS OF COMPETENCE OF DISCIPLINE. UPDATE YOUR PREPARATION ACCORDING TO THE DEVELOPMENT OF ANALYSIS TOOLS AND PROCESSING OF INFORMATION AND THE EVOLUTION OF THE REFERENCE REGULATORY FRAMEWORK.

GENERAL OBJECTIVES
TEACHING AIMS TO PROVIDE STUDENTS WITH KNOWLEDGE OF BUSINESS CONTEXTS AND BUSINESS CULTURE; TO ENABLE THEM TO DEVELOP SKILLS IN THE PRINCIPLES AND PROCEDURES USEFUL FOR MAKING ECONOMIC-FINANCIAL EVALUATIONS AND DRAFTING FEASIBILITY STUDIES REGARDING PLANTS AND ESTABLISHMENTS FOR INDUSTRIAL ACTIVITIES; TO MAKE THEM AWARE OF ENVIRONMENTAL AND SOCIAL IMPACTS.
KNOWLEDGE AND UNDERSTANDING
THE STUDENT WILL ACQUIRE THE TAXONOMY SPECIFIC TO BUSINESS CONTEXTS AND BUSINESS CULTURE, WITH PARTICULAR REFERENCE TO THE AGRIBUSINESS INDUSTRY. WILL BE ABLE TO UNDERSTAND TECHNICAL TEXTS THAT USE THE VOCABULARY OF THE APPRAISAL DISCIPLINE, OPERATIONAL LOGIC AND THE MOST IMPORTANT REGULATIONS IN THE APPRAISAL/EVALUATION FIELD.
APPLYING KNOWLEDGE AND UNDERSTANDING
KNOW THE SOURCES WHICH PROVIDE THE DATA FOR THE ESTIMATES, KNOW HOW TO READ AND UNDERSTAND DOCUMENTS AND INFORMATION TO USE IN THE ASSESSMENT, BE ABLE TO TRANSLATE IN A TECHNICAL DOCUMENT (SURVEY OR OTHERWISE) THE PHASES OF ESTIMATE JUDGMENT.
MAKING JUDGMENTS
BE ABLE TO IDENTIFY THE PRACTICAL REASON ESTABLISHED BY THE QUERY, TO SELECT THE ESTIMATE PROCEDURE AS A FUNCTION OF DATA AVAILABILITY AND OF LEGAL-ECONOMIC CHARACTERISTICS OF THE REAL ESTATE WHICH ARE SUBJECT MATTER OF THE EVALUATION.
COMMUNICATION SKILLS
KNOWING HOW TO INTERACT WITH EXPERTS FROM OTHER DISCIPLINES, COMMUNICATING THE RESULTS OF YOUR WORK IN CLEAR AND EFFECTIVE TERMS.
LEARNING SKILLS
BEING ABLE TO APPLY METHODOLOGICAL PRINCIPLES TO THE MULTIPLE AND DIFFERENT AREAS OF COMPETENCE OF DISCIPLINE. UPDATE YOUR PREPARATION ACCORDING TO THE DEVELOPMENT OF ANALYSIS TOOLS AND PROCESSING OF INFORMATION AND THE EVOLUTION OF THE REFERENCE REGULATORY FRAMEWORK.

	Prerequisites
	PREREQUISITES TO REACH THE SET GOALS ARE REQUIRED KNOWLEDGE ABOUT BASIC MATHEMATICS AND GENERAL ECONOMY. PREPARATORY EXAMS NONE.

	Contents
	INTRODUCTION (2H) TASKS AND CONTENTS OF THE APPRAISAL AND THE EVALUATION. RELATIONSHIP BETWEEN THE DICIPLINE AND THE PROFESSION OF ENGINEER. COURSE ORGANIZATION. TEACHING MATERIALS AND EXERCISES. PRINCIPLES OF ECONOMY (4H + 2H APPLICATIONS) ECONOMIC GOODS. CONSUMPTION AND PRODUCTION. CAPITAL AND COMPANY BALANCE SHEET. MARKET FORMS. EXTERNALITIES. USE VALUE AND INDEPENDENT OF USE. FINANCIAL MATHEMATICS (2H + 2H APPLICATIONS) INTEREST CALCULATION. PRINCIPAL AND INTEREST. DISCOUNT AND DEFERRAL. ANNUALITY AND FREQUENCY. DEPRECIATION AND REINSTATEMENTS. THE JUDGMENT OF ESTIMATE (12H + 3H APPLICATIONS) STEPS OF THE JUDGMENT OF ESTIMATE. THE PRACTICAL REASON. THE ECONOMIC ASPECTS. IDENTIFICATION OF THE ECONOMIC ASPECT THAT SATISFIES THE PRACTICAL REASON. THE METHOD OF APPRAISAL. APPRAISAL PROCEDURES. CHOOSING THE PROCEDURES. THE ORDINARINESS IN THE JUDGMENT OF ESTIMATE. DATA COLLECTION. CAPITAL VALUE. ADDITIONS AND DEDUCTIONS. BUILDINGS APPRAISAL (10H +2H APPLICATIONS) METRIC ESTIMATE. THE REAL ESTATE MARKET. INDUSTRIAL BUILDINGS APPRAISAL. ESTIMATE OF BUILDING AREAS FOR PRODUCTIVE PURPOSES. LIMITATIONS TO THE PROPERTY RIGHT AND DAMAGES (6H + 2H APPLICATIONS) ESTIMATED COMPENSATION FOR EXPROPRIATION. INDEMNITY FOR POWER LINE EASEMENTS. ESTIMATES IN TERMS OF USUFRUCT. ESTIMATE OF ENVIRONMENTAL DAMAGES. INDUSTRIAL AND COMMERCIAL APPRAISAL (2H + 1H) ESTIMATE OF PLANTS. ESTIMATE OF COMPANIES. ESTIMATE OF THE GOODWILL VALUE. BASIC CRITERIA FOR ECONOMIC-FINANCIAL EVALUATION (4H +1H APPLICATION) APPRAISAL AND ECONOMIC EVALUATIONS. STAGES OF EVALUATION (EX-ANTE, IN ITINERE, EX-POST). COSTS AND REVENUES OF INVESTMENTS. INDICATORS OF ECONOMIC-REVENUE FEASIBILITY. MULTICRITERIA EVALUATIONS (4H + 1H APPLICATION) MARKET AND EXTRA-MARKET VALUES. QUALITATIVE-QUANTITATIVE EVALUATION TECHNIQUES: CLASSIFICATION AND APPLICATIONS.

Contents

INTRODUCTION (2H)
TASKS AND CONTENTS OF THE APPRAISAL AND THE EVALUATION. RELATIONSHIP BETWEEN THE DICIPLINE AND THE PROFESSION OF ENGINEER. COURSE ORGANIZATION. TEACHING MATERIALS AND EXERCISES.

PRINCIPLES OF ECONOMY (4H + 2H APPLICATIONS)
ECONOMIC GOODS. CONSUMPTION AND PRODUCTION. CAPITAL AND COMPANY BALANCE SHEET. MARKET FORMS. EXTERNALITIES. USE VALUE AND INDEPENDENT OF USE.

FINANCIAL MATHEMATICS (2H + 2H APPLICATIONS)
INTEREST CALCULATION. PRINCIPAL AND INTEREST. DISCOUNT AND DEFERRAL. ANNUALITY AND FREQUENCY. DEPRECIATION AND REINSTATEMENTS.

THE JUDGMENT OF ESTIMATE (12H + 3H APPLICATIONS)
STEPS OF THE JUDGMENT OF ESTIMATE. THE PRACTICAL REASON. THE ECONOMIC ASPECTS. IDENTIFICATION OF THE ECONOMIC ASPECT THAT SATISFIES THE PRACTICAL REASON. THE METHOD OF APPRAISAL. APPRAISAL PROCEDURES. CHOOSING THE PROCEDURES. THE ORDINARINESS IN THE JUDGMENT OF ESTIMATE. DATA COLLECTION. CAPITAL VALUE. ADDITIONS AND DEDUCTIONS.

BUILDINGS APPRAISAL (10H +2H APPLICATIONS)
METRIC ESTIMATE. THE REAL ESTATE MARKET. INDUSTRIAL BUILDINGS APPRAISAL. ESTIMATE OF BUILDING AREAS FOR PRODUCTIVE PURPOSES.

LIMITATIONS TO THE PROPERTY RIGHT AND DAMAGES (6H + 2H APPLICATIONS)
ESTIMATED COMPENSATION FOR EXPROPRIATION. INDEMNITY FOR POWER LINE EASEMENTS. ESTIMATES IN TERMS OF USUFRUCT. ESTIMATE OF ENVIRONMENTAL DAMAGES.

INDUSTRIAL AND COMMERCIAL APPRAISAL (2H + 1H)
ESTIMATE OF PLANTS. ESTIMATE OF COMPANIES. ESTIMATE OF THE GOODWILL VALUE.

BASIC CRITERIA FOR ECONOMIC-FINANCIAL EVALUATION (4H +1H APPLICATION)
APPRAISAL AND ECONOMIC EVALUATIONS. STAGES OF EVALUATION (EX-ANTE, IN ITINERE, EX-POST). COSTS AND REVENUES OF INVESTMENTS. INDICATORS OF ECONOMIC-REVENUE FEASIBILITY.

MULTICRITERIA EVALUATIONS (4H + 1H APPLICATION)
MARKET AND EXTRA-MARKET VALUES. QUALITATIVE-QUANTITATIVE EVALUATION TECHNIQUES: CLASSIFICATION AND APPLICATIONS.

	Teaching Methods
	THE COURSE INCLUDES LESSONS AND EXERCISES, DURING WHICH APPLICATION EXAMPLES OF THE THEORETICAL PRINCIPLES WILL BE ILLUSTRATED. THE FRONTAL LESSONS WILL ALLOW THE STUDENT TO ACQUIRE KNOWLEDGE OF THE POSTULATES, THE BASIC LOGIC OF THE DISCIPLINE AND THE TECHNICAL VOCABULARY OF THE SECTOR. THE EXERCISES WILL ALLOW THE STUDENT TO DEVELOP THE ABILITY TO APPLY THE BASIC NOTIONS TO THE RESOLUTION OF THE MAIN APPLICATION ISSUES KNOWN. STUDENTS, DISTRIBUTED IN WORKING GROUPS, ARE REQUIRED TO DEVELOP AN ESTIMATE OPERATIONAL CASE IN ORDER TO ACQUIRE THE ABILITY TO TRANSLATE THE PHASES OF THE ESTIMATION JUDGMENT INTO TECHNICAL PAPER. THE DETAILS OF THE LESSON AND PRACTICE HOURS ARE SHOWN IN THE PREVIOUS PARAGRAPH. 4.6 ECTS REFER TO THE LESSONS, 1.4 TO THE EXERCISES.

Teaching Methods

THE COURSE INCLUDES LESSONS AND EXERCISES, DURING WHICH APPLICATION EXAMPLES OF THE THEORETICAL PRINCIPLES WILL BE ILLUSTRATED. THE FRONTAL LESSONS WILL ALLOW THE STUDENT TO ACQUIRE KNOWLEDGE OF THE POSTULATES, THE BASIC LOGIC OF THE DISCIPLINE AND THE TECHNICAL VOCABULARY OF THE SECTOR. THE EXERCISES WILL ALLOW THE STUDENT TO DEVELOP THE ABILITY TO APPLY THE BASIC NOTIONS TO THE RESOLUTION OF THE MAIN APPLICATION ISSUES KNOWN.
STUDENTS, DISTRIBUTED IN WORKING GROUPS, ARE REQUIRED TO DEVELOP AN ESTIMATE OPERATIONAL CASE IN ORDER TO ACQUIRE THE ABILITY TO TRANSLATE THE PHASES OF THE ESTIMATION JUDGMENT INTO TECHNICAL PAPER.
THE DETAILS OF THE LESSON AND PRACTICE HOURS ARE SHOWN IN THE PREVIOUS PARAGRAPH. 4.6 ECTS REFER TO THE LESSONS, 1.4 TO THE EXERCISES.

	Verification of learning
	THE EXAM, WHICH WILL BE HELD AT THE END OF THE COURSE, IS CARRIED OUT WITH AN INDIVIDUAL ORAL TEST AND IS AIMED AT VERIFYING THE FOLLOWING EQUIVALENT CRITERIA: A. LANGUAGE PROPERTY OF THE CANDIDATE WITH RESPECT TO THE SPECIFIC TERMINOLOGY OF THE SUBJECT DISCIPLINE; B. KNOWLEDGE OF THE BASIC POSTULATES AND LOGIC OF THE DISCIPLINE; C. KNOWLEDGE AND ABILITY TO RESOLVE THE MAIN APPLICATION ISSUES NOTES; D. ABILITY TO SYNTHESIS THE BASIC NOTIONS IN RESOLUTION APPROACHES OF NEW APPLICATION ISSUES; E. LEVEL OF DEEPENING OF THE DESIGN PROJECTS DEVELOPED DURING THE TEACHING COURSE. THE DURATION OF THE TRIAL IS PROPORTIONAL TO THE VERIFICATION OF THE LEARNING OF THE PROGRAM CONTENTS. THE RESULT OF THE CHECK IS EXPRESSED IN THIRTIETHS. THE MINIMUM SCORE FOR PASSING THE EXAM IS 18/30 AND IS ATTRIBUTED FOR A BASIC LEVEL OF KNOWLEDGE OF THE POSTULATES, THE BASIC LOGIC AND THE TOOLS OF THE DISCIPLINE; THE MAXIMUM GRADE IS 30/30, AWARDED WHEN THE LEARNER DEMONSTRATES AN IN-DEPTH LEVEL OF KNOWLEDGE OF THE TOPICS ILLUSTRATED, AN EXCELLENT ABILITY TO RESOLVE APPLICATION ISSUES, AS WELL AS THE CORRECT ACQUISITION OF THE SPECIFIC TECHNICAL AND ECONOMIC VOCABULARY. IN ORDER TO OBTAIN 30/30 CUM LAUDE, IT IS CONSIDERED: - THE QUALITY OF EXPOSURE, IN TERMS OF USE OF APPROPRIATE SCIENTIFIC LANGUAGE; - OF THE ABILITY OF TRANSVERSAL CORRELATION BETWEEN THE DIFFERENT ARGUMENTS OF THE COURSE AND, WHERE POSSIBLE, WITH OTHER DISCIPLINES; - OF THE PROVED AUTONOMY OF MAKING JUDGMENT.

Verification of learning

THE EXAM, WHICH WILL BE HELD AT THE END OF THE COURSE, IS CARRIED OUT WITH AN INDIVIDUAL ORAL TEST AND IS AIMED AT VERIFYING THE FOLLOWING EQUIVALENT CRITERIA:
A. LANGUAGE PROPERTY OF THE CANDIDATE WITH RESPECT TO THE SPECIFIC TERMINOLOGY OF THE SUBJECT DISCIPLINE;
B. KNOWLEDGE OF THE BASIC POSTULATES AND LOGIC OF THE DISCIPLINE;
C. KNOWLEDGE AND ABILITY TO RESOLVE THE MAIN APPLICATION ISSUES NOTES;
D. ABILITY TO SYNTHESIS THE BASIC NOTIONS IN RESOLUTION APPROACHES OF NEW APPLICATION ISSUES;
E. LEVEL OF DEEPENING OF THE DESIGN PROJECTS DEVELOPED DURING THE TEACHING COURSE.
THE DURATION OF THE TRIAL IS PROPORTIONAL TO THE VERIFICATION OF THE LEARNING OF THE PROGRAM CONTENTS.
THE RESULT OF THE CHECK IS EXPRESSED IN THIRTIETHS. THE MINIMUM SCORE FOR PASSING THE EXAM IS 18/30 AND IS ATTRIBUTED FOR A BASIC LEVEL OF KNOWLEDGE OF THE POSTULATES, THE BASIC LOGIC AND THE TOOLS OF THE DISCIPLINE; THE MAXIMUM GRADE IS 30/30, AWARDED WHEN THE LEARNER DEMONSTRATES AN IN-DEPTH LEVEL OF KNOWLEDGE OF THE TOPICS ILLUSTRATED, AN EXCELLENT ABILITY TO RESOLVE APPLICATION ISSUES, AS WELL AS THE CORRECT ACQUISITION OF THE SPECIFIC TECHNICAL AND ECONOMIC VOCABULARY.

IN ORDER TO OBTAIN 30/30 CUM LAUDE, IT IS CONSIDERED:
- THE QUALITY OF EXPOSURE, IN TERMS OF USE OF APPROPRIATE SCIENTIFIC LANGUAGE;
- OF THE ABILITY OF TRANSVERSAL CORRELATION BETWEEN THE DIFFERENT ARGUMENTS OF THE COURSE AND, WHERE POSSIBLE, WITH OTHER DISCIPLINES;
- OF THE PROVED AUTONOMY OF MAKING JUDGMENT.

	Texts
	EUROPEAN VALUATION STANDARDS (EVS), TEGOVA, THE EUROPEAN GROUP OF VALUERS’ ASSOCIATION, 10TH EDITION 2025 (THE BLUE BOOK). ECONOMIC APPRAISAL VADEMECUM 2021-2027, GENERAL PRINCIPLES AND SECTOR APPLICATIONS. EUROPEAN COMMISSION, 2021. DEL GIUDICE V., ESTIMO E VALUTAZIONE ECONOMICA DEI PROGETTI, LOFFREDO EDITORE, 2010 CASORIA (NA). REFERENCE AND IN-DEPTH TEXTS: MEDICI G., PRINCIPI DI ESTIMO, CALDERINI, 1972 BOLOGNA. ECONOMIC EVALUATION & INVESTMENT DECISION METHODS, FRANKLIN J. STERMOLE, JOHN M. STERMOLE, ANDREW H. PEDERSON. INVESTMENT EVALUATIONS CORPORATION, 2019.

Texts

EUROPEAN VALUATION STANDARDS (EVS), TEGOVA, THE EUROPEAN GROUP OF VALUERS’ ASSOCIATION, 10TH EDITION 2025 (THE BLUE BOOK).

ECONOMIC APPRAISAL VADEMECUM 2021-2027, GENERAL PRINCIPLES AND SECTOR APPLICATIONS. EUROPEAN COMMISSION, 2021.

DEL GIUDICE V., ESTIMO E VALUTAZIONE ECONOMICA DEI PROGETTI, LOFFREDO EDITORE, 2010 CASORIA (NA).
REFERENCE AND IN-DEPTH TEXTS:

MEDICI G., PRINCIPI DI ESTIMO, CALDERINI, 1972 BOLOGNA.

ECONOMIC EVALUATION & INVESTMENT DECISION METHODS, FRANKLIN J. STERMOLE, JOHN M. STERMOLE, ANDREW H. PEDERSON. INVESTMENT EVALUATIONS CORPORATION, 2019.

	More Information
	THE COURSE IS HELD IN THE DEPARTMENT OF INDUSTRIAL ENGINEERING. PLEASE, CONSULT THE OFFICIAL WEBSITE (HTTPS://WWW.DIIN.UNISA.IT/) FOR TIMETABLE AND CLASSROOMS. THE LANGUAGE OF LECTURES IS ENGLISH.

Lessons Timetable

BETA VERSION Data source ESSE3

International Teaching | ECONOMIC EVALUATION OF INDUSTRIAL BUSINESS AND ASSETS