Global Risk Trends (5 cr)

Objective

The course seeks to give students a broad insight at the macro analysis level of the substantial risk forces that shape our lives both now and into the future. It will cover the powerful nature of man-made financial markets and discover some of their inner workings and dynamics as well as exploring humanity's attempts to deal with the powerful environmental forces of mother nature in respect of their impact on business and society at large. We will view things from the stand point of uncertainty because where ever there is uncertainty there is risk.
By the end of the course, students will be able to:
• Understand the general foundations of Risk
• Learn to see Risk in terms of Pure and Speculative forms
• Appreciate the interrelatedness of global financial and Insurance markets and have a greater understanding of their impact on business and society.

Content

• Risk in our Society
• Identifying Risk Trends
• Types of Pure and Speculative Risk Situations
• Risk Reduction v Risk Transfer
• Assessing the likely impact of Natural Disasters
• Financial and Insurance Market Dynamics
• The benefits and costs of Insurance to Society
• The changing scope of Risk Management
• Enterprise Risk Management

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

This means that the student's performance is sufficient. The student shows just enough understanding of the subject to merit a pass grade but greater effort is required to achieve a more satisfactory result.

Assessment criteria, good (3)

This means that the student's performance is sound. The student shows a strong understanding of the basic concepts and a good grasp of the techniques, but with certain minor problems still requiring attention.

Assessment criteria, excellent (5)

This means that the student's performance is excellent. The student not only satisfies all standard requirements but demonstrates originality and imagination.

Qualifications

First year basic business studies, English Language Proficiency