Week |
Subject |
Related Preparation |
1) |
|
|
1) |
• Introduce the course to the students
• Explain the major topics for the duration of the course
• Give examples about major topics
• Describe best practices for Risk & Insurance
• Explain the concept of Risk and Insurance
• Syllabus
• Discuss Course Outline,
• Instruction methodology
• Basics on Risk
• Basics on Insurance
|
|
2) |
• Definition of Risks,
• Types of Risks
• Reasons for need of Risk Management
• Identifying Threats
• Possibility of Occurance
• Introduction to Risk Management
• Identifying Possibility of Occurance of Risks
• Reviewing the risks of operations in an organization
• Risk Management approaches
• Conducting Risk Management in an organization
|
Review the Syllabus
Homework: assigned reading for next class session
Read Rejda and McNamara (2014) Chapter I pp. 1-19.
|
3) |
• Risk Planning
• Strategies for Risk Management
• Strategies for Risk Management
• Case Study – Analysis of a Real Risk Plan
• Assessing vulnerability to various threats
• Determining the risk ( i.e. the expected consequences of specific types of attacks on specific assets )
• Choosing ways to reduce identified risks
|
Homework: Assign reading for next class session
Read Rejda and McNamara (2014) Chapter II, pp. 19-39.
|
4) |
• Risk Analysis
• Principles of Risk Management
• Identifying risks ( Steel Industry )
• Suggesting Risk Management Strategies
- Create value.
- Be an integral part of organizational processes.
- Be part of decision making.
- Explicitly address uncertainty.
- Be systematic and structured.
- Be based on the best available information.
- Be tailored.
- Take into account human factors.
- Be transparent and inclusive.
- Be dynamic, iterative and responsive to change.
|
Homework: assign reading for next class session
Read Rejda and McNamara (2014) Chapter III, pp. 43-61.
|
5) |
• Risk Handling
• How to handle various risks while running business
1. Identification of risk in a selected domain of interest
2. Planning the remainder of the process.
3. Mapping out the following:
o the social scope of risk management
o the identity and objectives of stakeholders
o the basis upon which risks will be evaluated, constraints.
4. Defining a framework for the activity and an agenda for identification.
5. Developing an analysis of risks involved in the process.
6. Mitigation of risks using available technological, human and organizational resources
|
Homework: assign reading for next class session
Read Rejda and McNamara (2014) Chapter IV, pp. 62-84.
|
6) |
• Risk Monitoring
• Discussion of topics for Risk Monitoring
- Avoidance (eliminate, withdraw from or not become involved)
- Reduction (optimise - mitigate)
- Sharing (transfer - outsource or insure)
- Retention (accept and budget)
|
Homework: assigned reading for next class session
Assign mid-term paper topics to students.
Team members will be selected for presentations
There will be 2 types of class presentations 1) Papers About Risk 2) Papers About Insurance
|
7) |
• Presentations on Risk ( I )
• Determined during lectures
|
No Assignment – Complete your presentations |
8) |
• Presentations on Risk ( II )
• Determined during lectures
|
Summarize what have been discussed |
9) |
• Introduction to Insurance
• Insurance Concept
• Insurance Concept,
• Role of Insurance in Risk Management
• The dynamics of Insurance
• Protection from risks through insurance
• Ways of protection from risks
|
Summarize what have been discussed |
10) |
• The Insurance Industry
• Legal Framework and Regulations
• Generally accepted ethical codes in insurance industry
• Basic Information about Insurance Industry
• Legal and ethical framework
|
Homework: assign reading for next class session.
Read Rejda and McNamara (2014) Chapter V, pp. 86-102.
|
11) |
• Functions of Insurers and Financial Aspects of Insurance
• Review and discuss domestic and international schemes
|
Homework: assign reading for next class session
Read Rejda and McNamara (2014) Chapter VI, pp. 103-112.
|
12) |
• Most Common Insurance Avenues
• Social Insurance Programs,
• Life Insurance,
• Car & Property Insurance,
• Liability Insurance
• Business Insurance and
• other insurance types
|
Homework: assign reading for next class session
Read Rejda and McNamara (2014) Chapter VII, pp. 123-139.
|
13) |
• Student Presentations on Insurance ( I )
• Assigned During Lectures
|
Get ready for presentations |
14) |
• Student Presentations on Insurance ( II )
• Assigned During Lectures
|
Summarize what have been discussed |
15) |
• Final Exam
Asses learning level of the students
|
Summarize what have been discussed |
|
Program Outcomes |
Level of Contribution |
1) |
Explain the advances in the area of economics and finance within the framework of scientific methodology, theories and models. |
5 |
2) |
Employ the appropriate tools and analytical techniques to collect and analyze quantitative and qualitative data in the related areas, interpret results and propose solutions. |
5 |
3) |
Explain the evolution of financial markets and institutions in a historical context and define how they operate. |
1 |
4) |
Recognise the basic principles and regulations in the financial sector. |
2 |
5) |
Discover and create entrepreneurial opportunities to successfully establish and develop their own ventures. |
2 |
6) |
Recognise, interpret and discuss the current economic issues both at the national and global levels. |
4 |
7) |
Have the English proficiency in following and interpreting the developments in the areas of economics and finance and in conducting written and oral communication. |
4 |
8) |
Express the role of international capital markets in the global economy; accordingly define the concept of risk in terms of measurement and management. |
5 |
9) |
Identify standards of personal, professional, social and business ethics, evaluate the ethical implications of various practices in the related areas, and be aware the importance of ethical behavior in adding value to the society. |
4 |