Study-Unit Description

Study-Unit Description


TITLE Reflective Practices in Risk Management

LEVEL 05 - Postgraduate Modular Diploma or Degree Course



DESCRIPTION The purpose of this study-unit is to enhance students' critical thinking and analytical skills within the field of insurance and risk management. The study-unit will consist of three core and interrelated elements. The first element will focus on the most important academic contributions within each student's field of research. More specifically, students will be assigned various papers and book chapters to analyse and review, based on the research agenda identified in their initial proposal. The aim is to ensure that students are fully up-to-date with the latest developments within the literature, and are thus able to properly outline their unique contribution to the field when undertaking their dissertations. The second element will consist of reflective analysis pertaining to their employment, including tasks, processes and projects. This will include written reports, assignments and class presentations where students derive key lessons learned, critically analyse any failings and propose a way forward, with links drawn to the academic literature as well as the student's own research proposal. The third element of this study-unit will involve participation and attendance at various talks, seminars and workshops as organised by the Department of Insurance at the University of Malta and other departments/faculties as required. Students will be expected to draw up reports on these talks and derive an inventory of key practical and theoretical insights.

Study-Unit Aims:

To develop students' critical and analytical skills of current and contemporary academic and practical issues; broaden students' academic and practical knowledge within the scope of the chosen field of research and employment interests; and to assist students in utilising these insights in their own independent studies, projects, research and future careers.

Learning Outcomes:

1. Knowledge & Understanding:

By the end of the study-unit the student will be able to:
- critically evaluate key academic developments within a chosen field of research, and identify the unique contributions;
- critically define and analyse their practical work-related experiences and tasks and linking these to theory and academia;
- relate to the experiences and insights of other knowledgeable persons coming both from academia and industry.

2. Skills:

By the end of the study-unit the student will be able to:
- critically analyse, understand and interpret the latest academic literature in risk management published in top field journals and books;
- organise and present their findings in a logically-consistent manner through a variety of written and oral media;
- utilise the tools learned as part of their future professional careers and in the pursuance of high-level academic research.

Main Text/s and any supplementary readings:

- Shefrin, H. (2016) Behavioral Risk Management (Palgrave, U.S.).
- Stulz, R. M. (1996). Rethinking risk management. Journal of applied corporate finance, 9(3), 8-25.
- Froot, K. A., Scharfstein, D. S., & Stein, J. C. (1993). Risk management: Coordinating corporate investment and financing policies. the Journal of Finance, 48(5), 1629-1658.
- Panjer, H. H., & Pedersen, H. W. (1997). Financial Economics: with applications to investments, insurance and pensions.
- Rothschild, M., & Stiglitz, J. (1978). Equilibrium in competitive insurance markets: An essay on the economics of imperfect information. In Uncertainty in economics (pp. 257-280).
- Svetlana, V. (2016). InsurTech: challeges and development perspectives. International Journal of Innovative Technologies in Economy, (3 (5)).
- Yan, T. C., Schulte, P., & Chuen, D. L. K. (2017). InsurTech and FinTech: Banking and Insurance Enablement. In Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1 (pp. 249-281).
- Shleifer, A., & Vishny, R. W. (1997). A survey of corporate governance. The journal of finance, 52(2), 737-783.

STUDY-UNIT TYPE Lecture, Independent Study, Seminar and Tutorial

Assessment Component/s Assessment Due Resit Availability Weighting
Presentation (15 Minutes) SEM2 Yes 25%
Assignment SEM2 Yes 25%
Reflective Diary SEM2 Yes 25%
Reflective Diary SEM2 Yes 25%

LECTURER/S Amanda Gesualdi
Alberto Guido Biffi
Manuele Marini
Simon Grima (Co-ord.)
Sharon Seychell
Jonathan Spiteri

The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints.
Units not attracting a sufficient number of registrations may be withdrawn without notice.
It should be noted that all the information in the description above applies to study-units available during the academic year 2020/1. It may be subject to change in subsequent years.