Introduction to Risk Management
- Credits: 6
- Ending: Examination
- Range: 2P + 2C
- Semester: winter
- Year: 2
- Faculty of Economics and Finance
Teachers
Included in study programs
Teaching results
After studying this module, students should have the following knowledge, skills and competencies to:
Knowledge:
- understand the role or risk in society
- understand on introductory level risk management process, including its phases, steps and techniques
Skills:
- identify relevant risks related to a specific situations
- design appropriate techniques to cope with specific risks
Competences:
- apply relevant and effective risk management methods to the specific situation
- analyze, interpret and compare individual techniques in risk management
Indicative content
The aim of the course is to give students information about the role of the risk in the society, the meaning of this term and possible approaches to risk management. The course focuses on both theoretical aspects of the definition of the term risk and analysis of this concept from the point of view of different scientific disciplines, as well as an introduction to risk management process, its phases and approaches. In this context, the attention is focused on the various risk transfer and risk financing instruments. The second group of problems to which the subject is focused is the analysis of individual risks related to persons, property and human activity and their impact on society. The course also offers an insight to specific risks related to selected public policies.
Support literature
HOPKIN, P. Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management, Kogan Page, 2018. ISBN: 978-0749483074.
TICHÝ, M. Ovládání rizika. Analýza a management. Praha: C. H. Beck, 2006. ISBN 80-7179-415-5.
REJDA, G. E., MCNAMARA, M. J., RABEL, W. 2019. Principles of Risk Management and Insurance. 14/e. Pearson. ISBN-13: 9780135641293.
BROKEŠOVÁ, Z. - PASTORÁKOVÁ, E. - ONDRUŠKA, T. Determinants of insurance industry development in transition economies: empirical analysis of Visegrad group data. In Geneva papers on risk and insurance: Issue and practice, 2014, vol. 39, pp. 471-492.
PASTORÁKOVÁ, E. - BROKEŠOVÁ, Z. - PÉLIOVÁ, J.. Proaktívny prístup k tvorbe súkromných dôchodkových úspor: kľúčové determinanty. Politická ekonomie, 2017, roč. 65, č. 6, s. 709-727.
CUPÁK, A. - KOLEV, G. I. - BROKEŠOVÁ, Z.. Financial Literacy and Voluntary Savings for Retirement: Novel Causal Evidence. The European Journal of Finance, 2019, no. 16, pp. 1606-1625.
BROKEŠOVÁ, Z. - DECK, C. - PÉLIOVÁ, J.. Comparing a risky choice in the field and across lab procedures. Journal of Economic Psychology, August 2017, vol. 61, pp. 203-212.
PASTORÁKOVÁ, E. - JANÍKOVÁ, T. - BROKEŠOVÁ, Z. - ONDRUŠKA, T. Rodové rozdiely vo finančnom rozhodovaní v oblasti životného poistenia na Slovensku. Ekonomický časopis, 2013, roč. 61, č. 1, s. 82-100.
Syllabus
1. Risk in society, risk development and historical approach to risk 2. Theoretical definition of the term risk, scientific approach to risk 3. Attitudes of subjects to risk, risk perception, risk quantification 4. Introduction to risk management process 5. Basic tools and approaches to risk management 6. Methods of risk transfer and risk financing 7. Risks to persons 8. Property risks 9. Man-made risks 10. Operational risk, reputation risk, legal environment risk 11. Strategic risk, market risks, counterparty default risk, liquidity risk 12. Case studies aimed at identifying risks related to selected public policies 13. New trends in risk development and management, global risks
Requirements to complete the course
20% seminar assignments and case studies, 10% mid-term test, 10% team assignments, 60% written exam
Date of approval: 10.02.2023
Date of the latest change: 06.04.2021