Enquiry for Major/Minor/Programme Requirements

Major Title Major in Risk Management
Offered to students admitted to Year 1 in 2017-2018
Objectives:

The Major in Risk Management aims to provide students with the skills and expertise in the theory and methodology behind the scientific process of risk management, with application to actuarial science, finance and other related areas of interest. It is designed to provide solid training in the concepts of the risk management process, statistical models and methods of risk management, and good risk management practice. Core courses in the curriculum emphasize fundamental concepts and nature of risk assessment, risk management and governance from different standpoints while elective courses provide either training in specific Risk Management disciplines or an extension of knowledge aiming to give students more modeling, technical and analytical skills in risk management, including data mining, stochastic calculus, and financial time series modeling.

Learning Outcomes:
By the end of this programme, students should be able to:
PLO 1 :

identify and categorize the various risks faced by an organization and be able to demonstrate a critical understanding of generic risk management issues and techniques (by means of coursework, tutorial classes and/or project-based learning in the curriculum)

PLO 2 :

analyze and assess risk management situations, and be able to deal with qualitative as well as quantitative aspects appropriate to the situation (by means of coursework, tutorial classes and/or project-based learning in the curriculum)

PLO 3 :

critically evaluate and make effective use of models and techniques for risk assessment and management, and appraise the related ethical issues (by means of coursework, tutorial classes and/or project-based learning in the curriculum)

PLO 4 :

make informed risk management decisions, employ any techniques necessary to acquire and interpret relevant data and information from different sources and the factors that influence their perceptions of risk identification, risk reduction, risk mitigation and risk transfer (by means of coursework, tutorial classes and/or project-based learning in the curriculum)

PLO 5 :

communicate and collaborate with people effectively on risk management issues (by means of coursework, tutorial classes, project-based and/or capstone learning in the curriculum)

PLO 6 :

gain insights into current advances in risk management through either project or industrial training (by means of coursework, tutorial classes, project-based and/or capstone learning in the curriculum)

Impermissible Combination:

Major in Computing and Data Analytics
Major in Decision Analytics
Major in Statistics
Minor in Risk Management
Minor in Statistics

Required courses (96 credits)
1. Introductory level courses (42 credits)
Disciplinary Core Courses: Science Foundation Courses (12 credits)
SCNC1111 Scientific method and reasoning (6)
SCNC1112 Fundamentals of modern science (6)
Disciplinary Core Courses (30 credits)
MATH1013 University mathematics II (6)
STAT1600 Statistics: ideas and concepts (6)
MATH2014 Multivariable calculus and linear algebra (6)
STAT2601 Probability and statistics I (6)
STAT2602 Probability and statistics II (6)
2. Advanced level courses (48 credits)
Disciplinary Core Courses (24 credits)
STAT3600 Linear statistical analysis (6)
STAT3609 The statistics of investment risk (6)
STAT3615 Practical mathematics for investment (6)
STAT4601 Time-series analysis (6)
Disciplinary Electives (24 credits)
At least 24 credits selected from the following courses:
STAT3603 Probability modelling (6)
STAT3610 Risk management and insurance (6)
STAT3612 Data mining (6)
STAT3618 Derivatives and risk management (6)
STAT3911 Financial economics II (6)
STAT4603 Current topics in risk management (6)
STAT4606 Risk management and Basel Accords in banking and finance (6)
STAT4607 Credit risk analysis (6)
STAT4608 Market risk analysis (6)
3. Capstone requirement (6 credits)
At least 6 credits selected from the following courses:
STAT3799 Directed studies in statistics (6)
STAT4710 Capstone experience for statistics undergraduates (6)
STAT4766 Statistics internship (6)
STAT4799 Statistics project (12)
 
Notes:

1. Double-counting of courses up to a maximum of 24 credits is permissible when a student with a science major opts to undertake a second major in science. The double-counted courses must include SCNC1111 Scientific method and reasoning (6 credits) and SCNC1112 Fundamentals of modern science (6 credits). Additional credits to be double-counted must be for courses required ('disciplinary core') by both majors. For cases with 24 or less double-counted credits, the student must make up an equivalent number of credits by taking other courses offered by any Faculty.

2. If more than 24 credits (including SCNC1111 & SCNC1112) are listed as required courses ("disciplinary core") in both the first and second majors undertaken by a student, the student must make up the number of credits above the 24 permissible by taking replacement course(s) (disciplinary electives) in the second major. Double counting of credits is not permissible for major-minor or double-minors combinations. For details, please refer to "Students taking double Majors, Major-Minor or double Minors with overlapping course requirements" in the BSc syllabuses.

3. Students are not required to take Capstone if this Science major is taken as a second major on the condition that the capstone experience in the first major requires the integration or application of knowledge from both major disciplines.  If this is approved, a 6-credit advanced level course (disciplinary electives) in the second major must be taken to fulfill the credit requirement of the capstone experience.

4. Students must have level 2 or above in HKDSE Extended Module 1 or 2 of Mathematics or equivalent to take this major.  Students who do not fulfill this requirement are advised to take MATH1011 University mathematics I.

5. Students taking the Mathematics related major/minor should check the exemption and replacement arrangement for the introductory level Disciplinary Core Mathematics courses at http://www.scifac.hku.hk/ug/current/bsc/curriculum/overlapping-course-req.

Remarks:

Important! Ultimate responsibility rests with students to ensure that the required pre-requisites and co-requisite of selected courses are fulfilled. Students must take and pass all required courses in the selected primary science major in order to satisfy the degree graduation requirements.



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