Risk Management, M.S.
Curriculum
Major Requirements
| Waivable Program Core (Prerequisite Courses) | Credits: | |
| BUSI 510 | Research Methods | 1.5 |
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This course emphasizes application of quantitative methodologies to support managerial decision making through problem identification, research design including data collection methodologies, analytical techniques for data analysis, and report preparation. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 1.5-0-1.5 |
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| ECON 501 | Principles of Economics I | 1.5 |
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A study of basic economic concepts emphasizing analysis of the aggregate economy. The fundamental concepts of national income and its determination, economic fluctuations, monetary and fiscal policies, and economic growth are covered. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 1.5-0-1.5 |
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| FINC 501 | Finance | 1.5 |
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An overview of the financial management function in modern business, emphasizing the time value of money and financial analysis. The financial and economic environment and capital markets and securities are covered. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 1.5-0-1.5 |
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| MGMT 501 | Principles of Management | 1.5 |
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A study of organizations and of the activities of a manager in an organization. The course follows a functional approach, analyzing such management concepts as organizing decentralization, use of staff, human relations, conflict, decision making, planning, supervision, communication, and financial and production control systems such as budgeting and PERT. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 1.5-0-1.5 |
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| MRKT 501 | Introduction to Marketing | 1.5 |
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Study of the process by which consumers' needs and wants are analyzed and satisfied within the context of a modern marketing system. Investigation of current developments in the external environment affecting the marketing process. The role of marketing institutions in facilitating the flow of goods and services from producers to consumers is analyzed. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 1.5-0-1.5 |
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| QANT 501 | Business Statistics | 1.5 |
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This course introduces students to both descriptive and inferential statistics. Coverage includes applications to business and other disciplines and the use of technology as a decision support tool. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 1.5-0-1.5 |
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| QANT 510 | Production and Operations Management | 1.5 |
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Addresses concepts and critical activities required in the manufacturing of goods and the delivery of services. Quantitative applications and the use of relevant computer software are an integral part of this course. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 1.5-0-1.5 |
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| QANT 520 | Management Science | 1.5 |
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Prerequisite: Prerequisite: QANT 501 or a waiver Quantitative techniques for managerial decision-making are covered. These techniques include linear and integer programming, nonlinear programming, decision analysis, queuing theory and simulation. Problems are modeled and then solved using computer software. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 1.5-0-1.5 |
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| Total: 12 Credits | ||
| All students must complete this 12-credit core requirement. Courses from this list may be waived in those instances where the student's undergraduate experience includes course equivalencies. Courses in this core are offered to students in an accelerated format. | ||
| Business Analytics Requirement | Credits: | |
| BUSI 620 | Business Analytics | 3 |
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Prerequisite: Prerequisites: QANT 501, QANT 520 This course discusses the importance of data analytics and its applications in different business areas such as finance, marketing, operations, and strategic planning. Students will develop descriptive and predictive analytics capabilities using data visualization and data mining through case studies to support decision-making in the presence of uncertainty and big data. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 3-0-3 |
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| QANT 710 | Global Value Chain Risk Management | 3 |
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Prerequisite: Prerequisites: BUSI 620 This course introduces the concept of global value chain for product and service oriented organizations. The design and management of resilient global value chain network is discussed to ensure cost-effective flow of goods and services. Theoretical and practical concepts such as risk prioritization, mitigation, and response measures are discussed with as real-world cases. Several risk mitigation methods such as Value at Risk (VaR), Utility theory, Decision Tree, Failure Mode and Effect Analysis (FMEA) are explained to manage value chain risks. The goal is to provide students with a solid understanding of value chain risk management using analytics and simulation tools. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 3-0-3 |
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| Total: 6 Credits | ||
| Non-Waivable Program Core (choose six courses) | Credits: | |
| ECON 630 | Economic Risk Management | 3 |
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Prerequisite: Prerequisite: ECON 501 or waiver A study of country risks with a focus on economic risk. The course examines the identification, assessment, and mitigation of macroeconomic risk as it relates to business. Topics include assessment of debt sustainability, measurement of financial risk, sovereign default risk and economics risk mitigation strategies. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 3-0-3 |
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| FINC 630 | Financial Risk Management | 3 |
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Prerequisite: Prerequisite: FINC 501 or a waiver This course provides an overview of financial risk management with particular relevance to the management of financial services firms and corporate financial management. The course will examine overall enterprise risk, as well as market risk resulting from volatility of financial asset prices; interest rate risk resulting from uncertainty in yields; credit risk resulting from parties not fulfilling contractual obligations; liquidity risk when an asset cannot be traded quickly at the prevailing market price; and operational risk resulting from managerial or technical issues. The course will also discuss risk measurement tools such as value at risk, beta, portfolio beta, factor sensitivities, duration and portfolio distributions. The course will discuss the relevance of risk measurement tools to the management of financial services firms. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 3-0-3 |
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| FINC 635 | Insurance and Risk Management | 3 |
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Prerequisite: Prerequisite: FINC 501 or waiver This course discusses the role of insurance in risk mitigation for enterprises. The course provides an overview of the role of insurance markets in the economy and the law of liability and insurance. Property and casualty insurance and employment related insurance are discussed in detail as examples of the use of insurance for risk mitigation. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 3-0-3 |
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| MGMT 611 | Human Capital and Risk Management | 3 |
| Please view all course descriptions: http://www.nyit.edu/courses | ||
| LLAW 610 | Legal, Organizational, and Regulatory Risk | 3 |
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This course examines the legal and ethical aspects of risk management and critical thinking in a business organization with a focus on organizational and regulatory risk. The course will train students to identify and analyze the impact of critical external and internal factors that can increase the level of legal, organizational and regulatory risk in a diverse global organization. This course draws from various theoretical perspectives and offers practical guidance to students as to how to design a system of practices and processes that will reduce the legal, organizational and regulatory risk that can impede organizational compliance. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 3-0-3 |
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| MGMT 640 | Business Continuity Management | 3 |
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Prerequisite: Prerequisite: MGMT 501 or a waiver This course explores the area of Business Continuity and Risk Management in a comprehensive manner to provide for organizational resilience. Particular emphasis is placed on assessing threats which may lead to disastrous events, evaluating control alternatives and implementing strategies. Practical solutions to enable an organization to mitigate risk, manage crisis and recover from disaster are discussed Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 3-0-3 |
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| MIST 620 | Security Risk Analysis and Management | 3 |
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This course covers the concepts of security risk analysis and management, and its application for the business to mitigate risks. It includes a set of analytical tools utilizing technology for quantifying risk and, the costs and benefits of mitigation methods. The application of technological solutions such as Information Technology (IT) controls to various business cases will also be discussed. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 3-0-3 |
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| MRKT 625 | Product and Market Development Risk Management | 3 |
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Prerequisite: Prerequisite: MRKT 501 or a waiver Innovation is the driving force behind today’s economy. However, risk is inherent in the development of new product and market opportunities and most new products fail in the marketplace. This course addresses how to assess and mitigate risk in market opportunities and new product development. In this course, we first focus on the tools and techniques associated with analyzing market opportunities. We then focus on designing, testing, and introducing new products and services. A semester project will enable students to apply strategies for risk mitigation to the new product development process. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 3-0-3 |
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| Total: 18 Credits | ||
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New courses will be added as deemed appropriate. It is recommended that students interested in pursuing experiential-based learning enroll into BUSIE 650 Zero Credit Internship. One BUSIE 700-level experiential course may be used as a substitution for a non-waivable course by approval of the program director. |
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| Capstone Requirement | Credits: | |
| BUSI 770 | Emerging Issues in Risk Management | 3 |
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This course discusses emerging topics in risk management (e.g., unfavorable global/domestic economic conditions, cyber-attack/data breach and pace of technology changes, and changes in the regulatory environments) with the objective of gaining insight and strengthening the control of these risks. Students conduct projects that identify and prioritize risks, measure and forecast risk levels, assess the risk management competency of the organization, and redesign company’s strategies. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 3-0-3 |
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| BUSI 775 | Risk Management Integrated Seminar | 3 |
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This experiential learning course strengthens group dynamics through student engagement in ongoing risk management challenges and problems that are faced by practicing professionals in organizations. Student teams are required to seek and organize data, conduct analysis, and provide recommendations to the senior management of an organization. Classroom Hours - Laboratory and/or Studio Hours – Course Credits: 3-0-3 |
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| Total: 6 Credits | ||
| Total Required Credits = 30–42 The program may be completed in as few as 30 credits for those students that have prior undergraduate-level business experience. The program consists of the waivable program core, business analytics requirement, non-waivable program core, and capstone courses. |