Faculty of Economics and Management

Risk Management

ANNOTATION OF THE ACADEMIC DISCIPLINE

RISK MANAGEMENT

Recommended for students of the second (master’s) level of higher education

1.      Purpose of the Discipline

The course aims to provide students with a comprehensive understanding of modern economic riskology, equipping them with a systematic body of knowledge and practical competencies in risk management methodology. The discipline focuses on the acquisition of theoretical and applied tools for risk assessment, mitigation strategies, and decision-making under uncertainty. Particular attention is given to the development and application of risk management models to enhance the operational efficiency of enterprises.

2 Interdisciplinary Framework

The discipline "Risk Management" is grounded in the theoretical principles of management and the methodological foundations of related economic fields. It integrates concepts from enterprise economics, management, statistics, probability theory, and fundamental riskology, thereby fostering an interdisciplinary approach to risk analysis and decision-making.

3. Learning Outcomes, Teaching Methods, and Assessment Tools

The table below presents teaching methods and assessment tools for the discipline " Risk management " in relation to the expected learning outcomes:

Learning outcomes by academic discipline

Teaching

Methods

Diagnostic tools / 
assessment forms

 

 

 

1.

Knowledge:

1.1

the essence of the concepts "business risks", "identification and qualitative and quantitative risk analysis", "game theory", "usefulness", "insurance and risk transfer"; management concepts of business decision-making; characteristics of types of risks

lecture, seminar class, discussion

 

Presentation of results, survey, test, case-study, control exercises, modular work,

 test

 

1.2

the content of the processes of justifying business decisions in conditions of uncertainty, which require the application of new approaches, elements of game theory and utility theory

1.3

methods and technologies of qualitative and quantitative assessment of possible risks, socio-economic consequences of business decisions

lecture, seminar-discussion with elements of analysis, solving specific problems and situations, case analysis

1.4

substantive differences in the types of scenarios and development strategies in the implementation of financial and investment decisions

2.

Skills / Competencies:

2.1

Identification and Evaluation of Entrepreneurial Risks

lecture, seminar class, solving specific problems

lecture, seminar class, discussion

Presentation of results, survey, test, case-study, control exercises, modular work,

 test

 

2.2

 Development and Justification of Entrepreneurial Decisions– Application of a comprehensive set of methods and models, along with key economic indicators, to substantiate business decisions;

2.3

to solve problematic issues and non-standard situations in professional activity under conditions of uncertainty, risks and conflicts

lecture, solving specific problems and situations

2.4

carry out risk identification, analysis and assessment using computer technology and software-mathematical complexes

lecture, seminar class, solution of situational exercises

2.5

analyse capital formation processes based on the formation of various indicator systems

 

lecture, seminar class, solution of situational exercises

2.6

economically substantiate directions and methods of regulating business risks at the enterprise

 

lecture, seminar-detailed conversation, seminar-discussion, solution of situational exercises

3.

Communication:

Development of practical teamwork skills in students, namely:

seminar class, discussion, solving specific problems and situations

 

Verification of the performance of calculation works, case-study, verification of the performance of solved specific tasks and situations, presentation, test

3.1

Effective Information Delivery– Communicating ideas, problems, solutions, personal experiences, and arguments clearly and persuasively

3.2

Teamwork and Responsibility– Demonstrating the ability to collaborate within a team, take responsibility, and contribute to achieving common goals.

3.3

Professional Communication– Engaging in oral and written discussions on economic matters with business stakeholders to support business growth and development

3.4

Problem-Solving and Proposal Development– Identifying deficiencies, errors, and deviations, and formulating well-founded recommendations for their resolution

4.

| Responsibility and Autonomy

demonstrate an understanding of personal responsibility and the ability to bear responsibility for making professional or managerial decisions or given recommendations that may affect the development of the company

seminar class, discussion, solving specific problems and situations, analytical report

 

Checking the performance of calculation works, case-study, modular work,

test

 

4.1

forming judgments that take into account social, scientific and ethical aspects

4.2

organization and management of professional development of individuals and groups

4.3

when justifying operational, tactical and strategic management decisions regarding the financial and economic aspects of the enterprise's development.

4.4

while producing one's own practical ideas based on the principles of academic culture and integrity

4.5

with the ability to continue learning with a significant degree of autonomy

4.6

with the ability to independent and independent thinking

 
3.The content of the discipline offered for study by students by modules and topics.
  1.  Essence, content and types of risks
  2. Qualitative and quantitative assessment of risks
  3. Risk Management: Concepts, Principles, Methods, and International Standards
  4. Operational, Marketing, and International Risk Management
  5. Justification of Financial and Investment Decisions under Risk Conditions
  6. Risk and Utility Theory
  7. Risk Modelling and Optimization, Game Theory
  8. Risk Insurance

 

4. Teaching Faculty and Contact Information

Svitlana Mykhailivna Klymenko, PhD in Economics, Associate Professor, Department of Business Economics and Entrepreneurship, Kyiv National Economic University named after Vadym Hetman.
Email: klymenko.svitlana@kneu.edu.ua

4. Recommended Information Sources

  1. Klymenko S.M., Dubrova O.S.Justification of Business Decisions and Risk Assessment. Textbook. Kyiv: KNEU, 2005. 272 p.
  2. Klymenko S.M., Dubrova O.S.Justification of Business Decisions and Risk Assessment. Study guide for independent learning. Kyiv: KNEU, 2005. 183 p.
  3. Kryvda O.V.Economic Risks and Methods of Their Measurement: Study Guide. Kyiv: Igor Sikorsky KPI, 2022. 85 p.
  4. Kravchenko M.O., Boyarynova K.O., Kopishynska K.O.Risk Management: Visual Study Guide. Kyiv: Igor Sikorsky KPI, 2021. 432 p.
  5. Mashyna N.I.Economic Risk and Methods of Its Measurement: Textbook. Donetsk: LLC "Yugo-Vostok, LTD," 2004. 192 p.

 

 

Last redaction: 20.02.25