Risk management is an increasingly important element of corporate governance in the context of the growing dynamics, complexity and interdependence of a company with its environment. On the basis of the basic models of decision theory, students learn different perspectives of the concept of risk and become acquainted with the instruments of identification, assessment and control of risks.

Based on the historical development of the concept of risk, risk is put in the operational context. The usefulness of risk management is examined with the help of economic models und the question of whether risk management creates value is pursued. The focus lies on questions concerning the identification, assessment and handling of risks. For this purpose, technics and instruments for analysing and managing risks are covered. In a comprehensive case study, students develop methods for dealing with financial risks, especially through the use of derivates. Another focus is on methods of measuring and quantifying risks.

The 2-hour course, which is supplemented by 2-hour tutorials, takes place in spring trimester.