Bachelor of Commerce in Economics and Insurance AND Risk Management

Bachelor of Commerce in Economics and Insurance AND Risk Management

MQF Level

6

Duration and Credits

3 Years

180 ECTS

Mode of Study

Full-time

Economics

The Bachelor of Commerce in Economics is designed to teach you the intricate threads of global economies. This course will grant you the perspectives of micro and macroeconomics, allowing you to become proficient in the seemingly enigmatic facets that shape financial landscapes. The broad and intricate taught study-units will provide you with the principles of supply and demand, market competition, and economic policy, gaining a profound understanding of how these elements influence societies and businesses.


Insurance and Risk Management

The Bachelor of Commerce in Insurance and Risk Management will unravel the complex world of risk management and financial protection. Throughout the course, you will gain intricate insights into the principles of insurance, underwriting, and claims assessment, equipping you with skills to asses and mitigate various risks. The wide spectrum of taught study-units will provide you with legal frameworks, actuarial discounting and ratemaking, and the ever-evolving landscape of insurance technology. By the end of the course, the individual units will collectively hone your decision-making abilities and strategic thinking for when you will be employed with a prospective company.


Communication and Academic Skills Programme

The communication and academic skills programme complements students’ main course of study. It introduces them to writing and presenting as situated within academic contexts sensitive to specific disciplines and develops their competences for future careers.

Information for International applicants

Economics

An Intermediate Level pass in Pure Mathematics.


Insurance and Risk Management

An Intermediate Level pass in Pure Mathematics.

Applicants wishing to choose Insurance and Risk Management as one of the two main areas of study may also be admitted into the Course if they are in possession of a pass at Intermediate Level in Pure Mathematics together with one of the following qualifications:

  1. the Certificate in Insurance of the Chartered Institute of Insurance or/li>
  2. the Advanced Diploma in Insurance offered by MCAST or/li>
  3. the International Certificate in Enterprise Risk Management of the Institute of Risk Management or
  4. the Certificate in Risk Management in Financial Services of the Institute of Risk Management provided that applicants wishing to choose Banking, Finance and Investments as the second main area of study, may also be admitted if they satisfy the requirements for the Banking and Finance area of study.

You are viewing the entry requirements for International applicants. Switch to Local qualifications.


You can submit your application online. The deadlines for submission of applications vary according to the intake and courses. We encourage all international applicants to submit their applications as soon as possible. This is especially important if you require a visa to travel and eventually stay in Malta.

You can compare your national qualifications to the local requirements by visiting our qualifications comparability webpage. Access more information about our admission process and English language requirements.

The University of Malta has student accommodation on campus called Campus Hub. Campus Hub is just a 2-minute walk from the main campus. For more information, visit the accommodation website.

Our dedicated team at the student recruitment office is here to support you every step of the way. From the moment you start your application to the moment when you receive your decision letter, we're here to assist you. If you have any questions or need further information, don't hesitate to reach out to us. You can contact us at info@um.edu.mt, and our team will be more than happy to help.

After you receive an offer from us, our International Office will assist you with visas, accommodation and other related issues.

Economics

In addition to the compulsory study-units, students are required to choose two areas of study and register for the study-units accordingly.
 
Semester 1
 
Compulsory Units (All students must register for this/these unit/s)
 
EMA1008 Quantitative Analysis for Business 1 4 ECTS   (NC)    
EMA1011 Introduction to Management and Applied Fundamentals 4 ECTS   (NC)    
EMA1100 Business Statistics 1 4 ECTS   (NC)    
EMA1310 Foundations and Applications of Economics 4 ECTS   (NC)    
EMA1312 Introduction to Psychology in Business and Public Life 4 ECTS   (NC)    
EMA1313 Introduction to Sociology for Business and Public Life 4 ECTS   (NC)    
EMA1314* Financial Accounting and Control 1 4 ECTS   (NC)    
EMA1316** Accounting Theory and Practice 1 4 ECTS   (NC)    
EMA1317 Policy and Governance for Business 4 ECTS   (NC)    

* Study-unit EMA1314 is to be taken by students who are not in possession of Accounting at Advanced Level as well as students who possess an Advanced Level in Accounting but will not choose Accountancy as a major area.

** EMA1316 is to be taken by students with an Advanced Level in Accounting who are selecting Accountancy as their major. Students without an Advanced Level in Accounting, but who are eligible to major in Accountancy according to the Bachelor of Commerce Bye-Laws (i.e., those with another relevant qualification in Accounting approved by the Board, or those with two Advanced Matriculation Level subjects and a grade C or better), must take both EMA1314 and EMA1316.
 
 
Semester 2
 
Compulsory Units (All students must register for this/these unit/s)
 
ECN1201 Economics of Development and Small Island States 4 ECTS   (NC)    
ECN1202 Intermediate Microeconomics 4 ECTS   (NC)    
ECN1203 Intermediate Macroeconomics 4 ECTS   (NC)    
EMA1315 Writing and Research Skills for Business Students 4 ECTS   (NC)    

 

Students are required to register for ALL compulsory study-units (12 ECTS credits), 16 ECTS credits from the elective study-units on offer during the year, 28 ECTS credits in the other area, and 4 ECTS of optional study-units to a total of 60 ECTS credits. For students majoring in Economics and Management no optional study-unit can be taken during Year 2 of the course. In this case, students need to register for study-unit ACC3521.
 
Semester 1
 
Compulsory Units (All students must register for this/these unit/s)
 
ECN2215 Mathematical Economics 4 ECTS   (NC)    
ECN2331 Economics of the Public Sector 4 ECTS   (NC)    
ECN2332 Economics of Taxation 4 ECTS   (NC)    
 
Recommended Optional Units
 
BKF2011* Banking 1 4 ECTS      
BKF2041* Financial Services Law 4 ECTS      
ELP1062 English Proficiency 2 ECTS      
IOT2002 Communication and Innovation 4 ECTS      
IOT2003 Foresight - A Tool for Shaping Futures 4 ECTS      
IOT2005 Leadership and Organisational Innovation 2 ECTS      
MGT2031* Operations Research 4 ECTS      
MGT2361 Soft Skills for the Workplace 4 ECTS      
MRK2000* Marketing Foundations 4 ECTS      
PHE0109 Badminton 2 ECTS      
PHE0110 Squash 2 ECTS      
PPL2226* The Public Policy Environment 4 ECTS      
TRS2281 Travel and Transportation Management 4 ECTS      

* In the case of optional study-units marked with an asterix, students cannot register for study-units pertaining to the Department of their chosen Areas of Study.
 
 
Semester 2
 
Elective Units (Elective units are offered subject to availability, a minimum number of student registrations and time-table constraints)Students are required to choose four of the following study-units:
 
ECN2141 Economics of Environmental Policy 4 ECTS      
ECN2161 Applied Microeconomics 4 ECTS      
ECN2310 Introduction to Political Economy 4 ECTS      
ECN2320 History of Economic Thought 4 ECTS      
ECN2333 Housing and Transport Economics 4 ECTS      
ECN3127 Applied Macroeconomics 4 ECTS      

 

Students are required to register once for EMA3001 - Statistical Design and Tools for Business (4 ECTS). Moreover, students are required to register for ALL compulsory study-units and two elective study-units amounting to 28 ECTS credits in each area, to a total of 60 ECTS credits.
 
Semester 1
 
Compulsory Units (All students must register for this/these unit/s)
 
ECN2031 Econometrics 1 4 ECTS   (NC)    
ECN3126 Monetary Economics 4 ECTS      
ECN3200 International Economics 4 ECTS   (NC)    
EMA3001 Statistical Design and Tools for Business 4 ECTS   (NC)    

 
 
Semester 2
 
Compulsory Units (All students must register for this/these unit/s)
 
ECN2041 Econometrics 2 4 ECTS   (NC)    
ECN3301 Industrial Economics and Competition Law 4 ECTS      
ECN3302 Economic Data Analysis using Python 4 ECTS      
 
Elective Units (Elective units are offered subject to availability, a minimum number of student registrations and time-table constraints)Students are required to choose one of the following study-units:
 
ECN3201 Monetary Policy 4 ECTS      
ECN3205 European Monetary Union 4 ECTS      
ECN3240 Economics of Innovation, Creativity and Knowledge 4 ECTS      

 

Insurance and Risk Management

In addition to the compulsory study-units, students are required to choose two areas of study and register for the study-units accordingly.
 
Semester 1
 
Compulsory Units (All students must register for this/these unit/s)
 
EMA1008 Quantitative Analysis for Business 1 4 ECTS   (NC)    
EMA1011 Introduction to Management and Applied Fundamentals 4 ECTS   (NC)    
EMA1100 Business Statistics 1 4 ECTS   (NC)    
EMA1310 Foundations and Applications of Economics 4 ECTS   (NC)    
EMA1312 Introduction to Psychology in Business and Public Life 4 ECTS   (NC)    
EMA1313 Introduction to Sociology for Business and Public Life 4 ECTS   (NC)    
EMA1314* Financial Accounting and Control 1 4 ECTS   (NC)    
EMA1316** Accounting Theory and Practice 1 4 ECTS   (NC)    
EMA1317 Policy and Governance for Business 4 ECTS   (NC)    

* Study-unit EMA1314 is to be taken by students who are not in possession of Accounting at Advanced Level as well as students who possess an Advanced Level in Accounting but will not choose Accountancy as a major area.

** EMA1316 is to be taken by students who possess an Advanced Level in Accounting and will be choosing Accountancy as a major area. Students who do not possess an Advanced level in Accounting, but are eligible to choose Accountancy as a major area as per Bye-Laws for the award of the Bachelor of Commerce (that is, are in possession of another qualification in Accounting that is deemed relevant by the Board, or are in possesssion of two Advanced Matriculation Level subjects and grade C or better). Such students will therefore take both EMA1314 and EMA1316.
 
 
Semester 2
 
Compulsory Units (All students must register for this/these unit/s)
 
EMA1315 Writing and Research Skills for Business Students 4 ECTS   (NC)    
INS1001 Applied Emerging Technologies in Risk Management 4 ECTS   (NC)    
INS1002 Applied Behavioral Risk Management 4 ECTS   (NC)    
INS2040 Insurance Market, Practice and Principles 4 ECTS   (NC)    

 

Students are required to register for ALL compulsory study-units (28 ECTS credits), 28 ECTS credits in the other area, and 4 ECTS of optional study-units to a total of 60 ECTS credits.

For students majoring in Economics and Management, Management and Marketing or Management and Public Policy, no optional study-unit can be taken during Year 2 of the course. In this case, students need to register for study-unit ACC3521.


In addition to the prescribed 60 ECTS credits for the year, students can apply to the Board to register for extra study-units. Please refer to the note at the end of the programme.
 
Semester 1
 
Compulsory Units (All students must register for this/these unit/s)
 
INS2015 Personal Lines Insurance 1 4 ECTS   (NC)    
INS2021 Governance Regulations and Compliance Management 4 ECTS   (NC)    
INS2400 IRM Quantitative Analytical Principles 4 ECTS   (NC)    
 
Recommended Optional Units
 
BKF2011* Banking 1 4 ECTS      
BKF2041* Financial Services Law 4 ECTS      
ELP1062 English Proficiency 2 ECTS      
INS2400* IRM Quantitative Analytical Principles 4 ECTS      
IOT2002 Communication and Innovation 4 ECTS      
IOT2003 Foresight - A Tool for Shaping Futures 4 ECTS      
IOT2005 Leadership and Organisational Innovation 2 ECTS      
MGT2031* Operations Research 4 ECTS      
MGT2361 Soft Skills for the Workplace 4 ECTS      
MRK2000* Marketing Foundations 4 ECTS      
PHE0109 Badminton 2 ECTS      
PHE0110 Squash 2 ECTS      
PPL2226 The Public Policy Environment 4 ECTS      
TRS2281 Travel and Transportation Management 4 ECTS      

 
 
Semester 2
 
Compulsory Units (All students must register for this/these unit/s)
 
INS2018 Personal Lines Insurance 2 4 ECTS   (NC)    
INS2019 Insurance Accounting Principles 4 ECTS      
INS3016 Sociology of Risk 4 ECTS   (NC)    
INS3081 Cyber Risk and Insurtech 4 ECTS      
 
Recommended Optional Units
 
BKF2050* Foundations of Risk Management 4 ECTS      
BKF2071* Principles of Finance 4 ECTS      
BKF3111* Practical Issues in Banking 4 ECTS      
ECN2310* Introduction to Political Economy 4 ECTS      
EST2020 Small States and the European Union 4 ECTS      
INS2019* Insurance Accounting Principles 4 ECTS      
INS3081* Cyber Risk and Insurtech 4 ECTS      
IOT2008 Innovation and Entrepreneurship: Practical Approaches 4 ECTS      
MGT2344 Creativity and Personal Development 4 ECTS      
PHE0109 Badminton 2 ECTS      
PHE0110 Squash 2 ECTS      

* In the case of optional study-units marked with an asterix, students cannot register for study-units pertaining to the Department of their chosen Areas of Study.

 

Students are required to register once for EMA3001 - Statistical Design and Tools for Business (4 ECTS). Moreover, students are required to register for ALL compulsory study-units and any electives (if present) amounting to 28 ECTS credits in the each area, to a total of 60 ECTS credits.
 
Semester 1
 
Compulsory Units (All students must register for this/these unit/s)
 
EMA3001 Statistical Design and Tools for Business 4 ECTS   (NC)    
INS3018 Investments and Derivative Markets 4 ECTS   (NC)    
INS3501 Principles of Environmental Social and Corporate Governance (ESG) 4 ECTS   (NC)    
INS4020 Marine and Transport Insurance 4 ECTS   (NC)    

 
 
Semester 2
 
Compulsory Units (All students must register for this/these unit/s)
 
INS3030 Enterprise Risk Management 4 ECTS   (NC)    
INS3084 Forensic Risk Management 4 ECTS   (NC)    
INS3504 Financial Planning 4 ECTS   (NC)    
INS4180 Property, Construction & Engineering and Liability 4 ECTS   (NC)    

 

This programme of study is governed by the General Regulations for University Undergraduate Awards, 2019 and by the Bye-Laws for the award of the Bachelor of Commerce - B.Com. - and Bachelor of Commerce (Honours) - B.Com. (Hons) - under the auspices of the Faculty of Economics, Management and Accountancy.

Economics

Upon successfully completing the Bachelor of Commerce degree course, you will be able to:

  • Comprehend how small states are defined, their special characteristics, and which aspects of economic theory are relevant to small country size and insularity.
  • Describe how markets work across various typologies of market structures, as well as be in a position to assess how changes to the cost of production change with output.
  • Understand how individual behaviour, market forces and government policies combine to affect the environment.
  • Demonstrate awareness about the unintended consequences of public policy.
  • Apply theoretical frameworks to existing trade between countries at different levels of development.
  • Inform policy makers through utility and choice frameworks about the impact of policy on individuals' decisions.

Insurance and Risk Management

Upon successfully completing the Bachelor of Commerce degree course, you will be able to:

  • Express business issues and applications in terms of the relevant quantitative notation and equations.
  • Apply the principles underpinning the use of Emerging Technologies in determining the risks and opportunities that they bring with them.
  • Identify the different lines of governance and accountability within an organisation.
  • Provide explanation of the intention of the various sections of cover and exclusions.
  • Understand the regulatory regime and the initiatives for policy wording clarity and certainty.
  • Determine response strategies and monitor risk management processes.

Non EU Applicants:

Fee per academic year: Eur 8,500

You are viewing the fees for non EU nationals. Switch to EU nationals if you are a national of any country from within the EU/EEA.

Economics

By the end of the course, you will have acquired the necessary analytical prowess to navigate complex economic challenges. You will be able to choose roles such as economic analysis, policy advisory, and economic research within the public and private sectors. The course will also provide a strong academic foundation to pursue further studies at a postgraduate level, which may lead you to more specialised fields in economics and providing the possibility of becoming an academic or researcher.


Insurance and Risk Management

As a successful graduate, you will have a variety of career opportunities to choose from. Such roles include those from insurance underwriting to claims analysis, risk management, and contributors in financial institutions and regulatory bodies. The course will also provide a strong foundation to enrol in a postgraduate course that will broaden your career horizons and include the possibility of becoming a researcher and academic.


Business Stream

 

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