Syllabus

Title
5379 ExInt II: International Risk and Financial Management (Group 1)
Instructors
Assoz.Prof. PD Dr. Jakob Müllner, Mag.Mag. Christian Schumacher, Ph.D.
Contact details
jakob.muellner@wu.ac.at
Type
PI
Weekly hours
3
Language of instruction
Englisch
Registration
02/10/21 to 02/24/21
Registration via LPIS
Notes to the course
Subject(s) Master Programs
International Risk and Finance Management
Dates
Day Date Time Room
Thursday 03/04/21 06:00 PM - 09:00 PM Online-Einheit
Thursday 03/11/21 02:00 PM - 05:00 PM Online-Einheit
Thursday 03/25/21 06:00 PM - 09:00 PM Online-Einheit
Thursday 04/08/21 02:00 PM - 05:00 PM Online-Einheit
Thursday 04/22/21 06:00 PM - 09:00 PM Online-Einheit
Thursday 04/29/21 02:00 PM - 05:00 PM Online-Einheit
Thursday 05/06/21 03:00 PM - 06:00 PM Online-Einheit
Thursday 05/27/21 02:00 PM - 06:00 PM Online-Einheit
Thursday 06/10/21 02:00 PM - 06:00 PM Online-Einheit
Thursday 06/17/21 02:00 PM - 06:30 PM Online-Einheit

On this page:

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Contents

International Risk Management and Reporting

  • Risk Management Theory
  • Operative Risk Management 1 (Organization of Risk Management)
  • Operative Risk Management 2 (Foreign Exchange Risk)
  • Operative Risk Management 3 (Interest Rate Risk, Commodity Risk)
  • Strategic Risk Management 1 (Political Risk, Diversification, Real Options..)
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Learning outcomes
  • Theory foundations of financial risk management
    • risk & uncertainty
    • financial derivatives
    • non-financial instruments
    • strategic instruments
  • Practical overview of
    • risk sources
    • risk measurement and
    • risk management techniques in companies
  • State-of-the art research on risk management
    • State of the litertaure
    • Empirical approaches and problems
    • Critical discussion of empirical findings
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Attendance requirements

The course is designed as a distance course. The first part (basics) is asynchronous using lecturecasts and the second part (application) is synchronous virtual meetings in which students present scientifc research.

Students are not allowed to be absent more than 20% of the synchronous lecture time.

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Teaching/learning method(s)

Two-part seminar:

  • Risk Management Theory
  • Risk Management Research
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Assessment
  1. Scientific presentation (small group)   50%
  2. Teaching case study essays (small group)  20% (see deadlines below)
  3. Online mini exam (individual)   30% (see date below)
  4. Online wiki      students receive extra points

 

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Prerequisites for participation and waiting lists

Entry Phase of the ExInt Master Programm
 

     

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    Recommended previous knowledge and skills

    Prior Knowledge and Courses:

     

    1. International Finance course recommended but not necessary
    2. Principles of Science course recommended but not necessary
    3. Data Analytics & Statistics recommended but not necessary
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    Availability of lecturer(s)

    Please use the learn@wu Forum for administrative communication!


    persönlich:
    open office Tue 10:00 -12:00 (appointment required)
    Dr. Jakob Müllner
    Institute for International Business (D1 5. floor)
    Department of Global Business and Trade
    Telephone: +43-1-313 36-4374
    E-Mail: Jakob.muellner@wu.ac.at

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    Other

    https://www.sciencedirect.com/science/article/pii/S104402831730443X

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    Additional (blank) field

    Attention: the selection of scientific articles for groups can vary from one semester to another and may change on short notice.

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    Unit details
    Unit Date Contents
    1 04.03.2021

    18:00-21:00

    Introductory session is shared between both courses 5379 & 5382
     
    Agenda Administrative issues, tasks and course design
    2 11.03.2021

    Core session 1  11.03.2021 14:00-17:00  asynchronous lecture Cast Instructor:   Jakob Müllner
     
    Lecturecast - Risk risk theory, risk measurement concepts Risk measurement Empirical evidence
    3 25.03.2021

    Core session 2  25.03.2021 18:00-21:00  asynchronous lecture Cast Instructor:   Jakob Müllner
     
    Lecturecast - Mangement & Organization Organizing risk management in companies
     
    Case 1: Zeidan, R. & Rodrigues, B. 2012. The failure of risk management for nonfinancial companies in the context of the financial crisis: lessons from Aracruz Celulose and hedging with derivatives. Applied Financial Economics, 23(3): 241-50.
     
    Students should analyse the case and discuss possible factors in companies that increase the danger of corporate mismanagement & speculation. Students are encouraged to conduct additional literature review on the topic. Students should cite references.
     
    Further information will be provided on learn. Submission deadline 22.04.2021 - 09:00 on learn @wu
    4 08.04.2021

    Core session 3  08.04.2021 14:00-17:00  asynchronous lecture Cast Instructor:   Jakob Müllner
     
    Lecturecast - Forex Foreign exchange risk management I
    5 22.04.2021

    Core session 4  22.04.2021  18:00-21:00  asynchronous lecture Cast Instructor:   Jakob Müllner
     
    Lecturecast - Interest rates & commodities Interest rate risk management Commodity risk management
     
    Case 2: Desai, M. A., Sjoman, A., & Dessain, V. 2005. Hedging Currency Risks at AIFS.
     
    First, students should analyse the business model of AIFS with regard to Translation risk, Transaction risk and Economic foreign exchange risk. Second, students should create an EXCEL sheets in which they contrast different hedging strategies (a) no hedge (b) 100% forward (c) 50% forward rate (d) 100% options for AIFS the forecasted final sales volume of 25.000. Bonus points are awarded for pay-off graphs in EXCEL.
     
    Further information will be provided on learn. Submission deadline 06.05.2021 09:00 on learn @wu
    6 29.04.2021

    Core session 5  29.04.2021 14:00-17:00  asynchronous lecture Cast Instructor:   Jakob Müllner
     
    Lecturecast - Political risk Political risk management Strategic Risk Management
    7 06.05.2021

    Final Exam &  06.05.2021  15:00-16:00  synchronous learn Online Q&A   06.05.2021  16:00-18:00  synchronous MS Teams Instructors:   Jakob Müllner & Christian Schumacher
     
    Exam and Q&A session is shared between both courses 5379 & 5382
     
    Exam will be administrated on learn including open and multiple choice questions. Students have 90 minutes to answer questions.The exam is ONLY available in the period specified. Students must make sure to be online at the time specified. Retakes are not possible!
     
    8 27.05.2021

    Presentation session 1  27.05.2021 14:00-18:00  synchronous MS Teams Instructor:   Christian Schumacher
     
    Presentation sessions are shared between both courses 5379 & 5382
     
    Both Courses Group 1 and Group 2 share the MS Teams Presentation Session. Groups present in a competitive way.
     
    14:00   Group 1 – Course 5379 15:00  Group 1 – Course 5382 16:00  Group 2 – Course 5379 17:00  Group 2 – Course 5382
    9 10.06.2021

    Presentation session 2  10.06.2021 14:00-18:00   synchronous MS Teams Instructor:   Christian Schumacher
     
    Presentation sessions are shared between both courses 5379 & 5382
     
    Both Courses Group 1 and Group 2 share the MS Teams Presentation Session. Groups present in a competitive way.
     
    14:00   Group 3 – Course 5379 15:00   Group 3 – Course 5382 16:00   Group 4 – Course 5379 17:00   Group 4 – Course 5382
    10 17.06.2021

    Presentation session 3  17.06.2021 14:00-18:30    synchronous MS Teams Instructor:   Christian Schumacher
     
    Presentation sessions are shared between both courses 5379 & 5382
     
    Both Courses Group 1 and Group 2 share the MS Teams Presentation Session. Groups present in a competitive way.
     
    14:00   Group 5 – Course 5379 15:00   Group 5 – Course 5382 16:00   Group 6 – Course 5379 17:00   Group 6 – Course 5382
    Last edited: 2021-02-09



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