Module Code: ERM511
ECTS Credit Points: 10
Module Type: Compulsory
Offered for the academic semester: First (1st)
Language: English
Module Outline
General Description
This Thematic Unit / Module is designed to introduce students to the foundation topics in microeconomics and industrial organization. This knowledge is important for reaching decisions in everyday business. The decisions aim to maximize profit and to strategically design and prepare a future for the business that will guarantee the existence and hopefully enlargement of profit in the long run. In fact this module will prepare students to forecast the framework of their business for the next day and thus hedge against business risks. In essence the module aims to prepare students as leaders who build business tactics and they will become a lot more than middle managers who rarely blaze trails in unknown areas and uncertain times such as those that businesses are encountered with nowadays.
Overall the module provides principles to foster the goals of the organization, as well as a better understanding of the external business environment in which an organization operates. In this module, future managers will learn how to increase company’s profitability by applying economic analysis to a wide array of business problems. The course will develop students’ capacity to analyze the economic environments in which business entities operate and understand how managerial decisions can vary under different constraints that each economic environment places on a manager’s pursuit of his/her goals. Its focus will be on analyzing the functioning of markets, the economic behavior of firms and other economic agents under various market structures, and the economic and social implications of the outcomes.
Learning Outcomes
Upon completion of this module, the students will be able to:
Knowledge
Comprehension
Application
Analysis
Synthesis
Evaluation
Subjects covered:
Prerequisites: There are no prerequisites for this module.
Evaluation: Completion of written assignments during the academic semester which constitute a 40 percent of each student’s grade, if a pass is obtained in the final or repetitive examination. Final exam grades constitute a 60 percent of the students’ final course grade.
Module Code: ERM512
ECTS Credit Points: 10
Module Type: Compulsory
Offered for the academic semester: First (1st)
Language: English
Module Outline
General Description
This Thematic Unit / Module is designed to introduce students to econometric techniques and their applications in economic analysis and decision-making. The main objective of the module is to train students in (i) handling economic data; (ii) quantitative analysis of economic models with probabilistic tools; (iii) econometric techniques, their application as well as their statistical and practical interpretation; (iv) implementing these techniques on any given econometric software.
The module focuses on practical and conceptual issues involved in substantive applications of econometric techniques. Estimation and inference procedures are formally analysed for simple econometric models and illustrated by empirical case studies using real-life data. The module covers sampling, estimation and statistical inference techniques, linear and non-linear regression models.
Learning Outcomes
Upon completion of this module, the students will be able to:
Knowledge
Comprehension
Application
Analysis
Synthesis
Evaluation
Subjects covered:
Prerequisites: There are no prerequisites for this module.
Evaluation: Completion of written assignments during the academic semester which constitute a 40 percent of each student’s grade, if a pass is obtained in the final or repetitive examination. Final exam grades constitute a 60 percent of the students’ final course grade.
Module Code: ERM513
ECTS Credit Points: 10
Module Type: Compulsory
Offered for the academic semester: First (1st)
Language: English
Module Outline
General Description
The Module “Risk and Risk Management”, ERM513, is designed to introduce students to the concept of risk from a global viewpoint, as well as to the fundamental principles of Risk Management.
The main objective of the module is to train students in:
The Module focuses on presenting a global understanding of risk and Risk Management in all of its aspects. It starts with the fundamental aspects, parameters and metrics of risk. Α separate examination of risks related to human factors follows. The basic issues of the social aspect of Risk Management, namely Risk Communication, Risk Governance and Risk Culture are subsequently presented. Finally, the basic approaches and models of subjective perception of risk forming the “constructivist” approach to risk, are also examined.
Learning Outcomes
Upon completion of this module, the students will be able to:
Knowledge
Comprehension
Application
Analysis
Synthesis
Evaluation
Subjects covered:
Prerequisites: There are no prerequisites for this module.
Evaluation: Completion of written assignments during the academic semester which constitute a 40 percent of each student’s grade, if a pass is obtained in the final or repetitive examination. Final exam grades constitute a 60 percent of the students’ final course grade.
Module Code: ERM521
ECTS Credit Points: 10
Module Type: Compulsory
Offered for the academic semester: Second (2nd)
Language: English
Module Outline
General Description:
This Thematic Unit / Module is designed to introduce students to the foundation topics in management and human resources. This knowledge is important for reaching decisions in everyday business within a riskful environment. The decisions aim to maximize profit and to strategically design and prepare a future for the business that will guarantee the existence and hopefully enlargement of profit in the long run. In fact this module will prepare students to forecast the framework of their business for the next day and thus hedge against business risks. In essence the module aims to prepare students as leaders who build business tactics and they will become a lot more than middle managers who rarely blaze trails in unknown areas and uncertain times such as those that businesses are encountered with nowadays.
Overall the module provides principles to foster the goals of the organization, as well as a better understanding of the external business environment in which an organization operates. In this module, future managers will learn how to apply management and human resource tools that increase company’s profitability. The main objective of the module is to train students in: providing students will all the necessary managerial knowledge in an environment of risk, navigating the students through managerial concepts with applications, navigating the students through human resource management tools with applications, acquainting students case studies and real application on these matters. The module will deal with and include basic management principles with a particular focus on the internal organization of the business and the remuneration, reward schemes.
Learning Outcomes:
Upon completion of this module, the students will be able to:
Knowledge
Comprehension
Application
Analysis
Synthesis
Evaluation
Subjects covered:
Prerequisites: There are no prerequisites for this module.
Evaluation: Completion of written assignments during the academic semester which constitute a 40 percent of each student’s grade, if a pass is obtained in the final or repetitive examination. Final exam grades constitute a 60 percent of the students’ final course grade.
Module Code: ERM522
ECTS Credit Points: 10
Module Type: Compulsory
Offered for the academic semester: Second (2nd)
Language: English
Module Outline
General Description:
This Thematic Unit / Module is designed to introduce students to a range of applications of advanced analytics that are suitable in risk management context. The module emphasizes more on how predictive analytics can be effective tools in reducing risk rather than the theoretical underpinnings of the models.
In the last decade, the amount of data available to organizations has reached unprecedented levels. Companies and individuals who can use this data together with analytics give themselves an edge over the competition. Predictive analytics is transforming risk management as it helps organizations by informing them what is arriving in the future. The Module covers a wide area of models and techniques from simple visual models and extending to statistical and machine learning techniques as well as some basic financial risk models. The approach is to focus on practical and conceptual issues involved in substantive applications of risk management.
The main objective of the module is to train students in employing methodologies and techniques for extracting information from existing data in order to determine patterns and predict future outcomes and trends, with an acceptable level of reliability, including what-if scenarios and risk assessment.
Students develop in depth understanding of the key technologies in data science and business analytics: data mining, machine learning, visualization techniques, predictive modelling, and statistics.
Through the study of proper case studies, students will be able to identify the inputs and outputs involved in each modelling approach and the suitability of the models to specific instances, gain practical, hands-on experience with statistics programming languages and big data tools through coursework, and practical assignments.
Learning Outcomes:
Upon completion of this module, the students will be able to:
Knowledge
Comprehension
Application
Analysis
Synthesis
Evaluation
Subjects covered:
Prerequisites: ERM512
Evaluation: Completion of written assignments during the academic semester which constitute a 40 percent of each student’s grade, if a pass is obtained in the final or repetitive examination. Final exam grades constitute a 60 percent of the students’ final course grade.
Module Code: ERM523
ECTS Credit Points: 10
Module Type: Compulsory
Offered for the academic semester: Second (2nd)
Language: English
Module Outline
General Description:
This Thematic Unit / Module, is designed to introduce students to the application of the most important methods, tools and Standards applied in Risk Management.
The main objective of the module is to train students in (i) internal and external Risk Management reporting, (ii) application of main Risk Management standards, (iii) use of most important methods and tools in Risk Management.
The Module focuses on providing students with a global picture of the technical aspects used in applied Risk Management. It starts with requirements and methodologies for Risk Management reports. The presentation of the three main Risk Management standards and their application follows. Main conceptual models for risk and main tools for risk analysis are subsequently presented. Finally, the basic methods and techniques for Risk Management are presented.
Learning Outcomes:
Upon completion of this module, the students will be able to:
Knowledge
Comprehension
Application
Analysis
Synthesis
Evaluation
Subjects covered:
Prerequisites: ERM513
Evaluation: Completion of written assignments during the academic semester which constitute a 40 percent of each student’s grade, if a pass is obtained in the final or repetitive examination. Final exam grades constitute a 60 percent of the students’ final course grade.
Module Code: ERM611
ECTS Credit Points: 10
Module Type: Compulsory
Offered for the academic semester: Third (3rd)
Language: English
Module Outline
General Description:
Module “Crisis Management”, ERM611, is designed to introduce students to evaluation of implications from Crisis Management decision-making theories, frameworks, approaches, and models for organisations in the Digital Society.
The main objective of the module is to train students in:
The module focuses on cognitive, conceptual approaches and ways to link theory and practice in the evaluation of issues impacting organizational decision-making about Crisis Management in the digital age. Theories are discussed in relation to actual case studies detailing critical events in organisations and implications are drawn out. Case studies are historical in nature, but where appropriate current crisis management events are used to highlight issues and implications of relevance to the module.
Learning Outcomes:
Upon completion of this module, the students will be able to:
Knowledge
Comprehension
Application
Analysis
Synthesis
Evaluation
Subjects covered:
Prerequisites: ERM513
Evaluation: Completion of written assignments during the academic semester which constitute a 40 percent of each student’s grade, if a pass is obtained in the final or repetitive examination. Final exam grades constitute a 60 percent of the students’ final course grade.
Module Code: ERM612
ECTS Credit Points: 10
Module Type: Compulsory
Offered for the academic semester: Third (3rd)
Language: English
Module Outline
General Description:
This Thematic Unit / Module is designed to advance student knowledge and analytical skills in crisis types, contexts, techniques, protocols, and procedures in Business Continuity Planning (BCP) for Transformational Leadership in the Digital Society.
The Module focuses on practical and conceptual issues in the field of BCP. Context-related challenges are assessed in relation to BCP development and techniques, protocol and procedures are evaluated against specific BCP criteria that fit contextual circumstances, but which also account for standards and good practices in the industry as a whole. Main parts of BCP are presented and the need for exercising, maintaining, and reviewing plans for embedding BCP strategic awareness and action when needed in organisational development of long-term strategy perspectives are discussed. Case studies and published sources are used for analysis and evaluation of organizational contexts and discussions about BCP. Students are also urged to use their own organisation context and/or a specific organizational context they wish to better understand in relation to BCP. An E-Book and research resources are provided to support student learning, but students are also encouraged to engage with research and independent learning under tutor guidance.
Learning Outcomes:
Upon completion of this module, the students will be able to:
Knowledge
Comprehension
Application
Analysis
Synthesis
Evaluation
Subjects covered:
Prerequisites: There are no prerequisites for this module.
Evaluation: Completion of written assignments during the academic semester which constitute a 40 percent of each student’s grade, if a pass is obtained in the final or repetitive examination. Final exam grades constitute a 60 percent of the students’ final course grade.
Module Code: ERM701A
ECTS Credit Points: 10
Module Type: Compulsory
Offered for the academic semester: Third (3rd)
Language: English
Module Outline
General Description:
As part of completing the studies for obtaining a Master’s Degree (Master’s) in Enterprise Risk Management, students must prepare, present and be assessed in a Master’s Thesis. The preparation of the Master’s Thesis is one of the most creative challenges of the program as it offers the student the opportunity to demonstrate that he/she has the ability to use the knowledge acquired in the Master’s Program and to complete a study on his/her own, with the guidance of the Supervising Professor. In addition, it provides the student with the opportunity to explore a topic of interest in depth by applying the rigorous, systematic and scientific approach to problem solving.
This is the first Thematic Unit of the Master’s Theses series, ERM701A.
Prerequisites: ERM512
Code: ERM701B
ECTS Credit Points: 30
Module Type: Compulsory
Offered for the academic semester: Fourth (4th)
Language: English
Module Outline
General Description:
As part of completing the studies for obtaining a Master’s Degree (Master’s) in Enterprise Risk Management, students must prepare, present and be assessed in a Master’s Thesis. The preparation of the Master’s Thesis is one of the most creative challenges of the program as it offers the student the opportunity to demonstrate that he/she has the ability to use the knowledge acquired in the Master’s Program and to complete a study on his/her own, with the guidance of the Supervising Professor. In addition, it provides the student with the opportunity to explore a topic of interest in depth by applying the rigorous, systematic and scientific approach to problem solving.
This is the second and last Thematic Unit of the Master’s Thesis series, ERM701B.
Prerequisites: ERM511, ERM512, ERM513, ERM521, ERM522, ERM523, ERM611, ERM612