Academics
Areas of Study

Overview

Overview

James Bruner MS, Program Coordinator

Edward Miller Gallaudet Building (EMG), Room 208

The Risk Management & Insurance program is designed to provide students with the knowledge and skills for a career in the insurance industry and enterprise risk management field. In the RMI Program, students will explore the various functional areas, such as underwriting, claims, and loss control that are related to RMI. Students will become skilled in identifying, accessing, and managing the types of risks facing financial institutions, corporations, and individuals and in recommending appropriate insurance coverages.

Courses & Requirements

Summary of Requirements

The program will consist of: General Education requirements; business pre-major requirements; business core requirements; RMI major requirements; major electives; and free electives as shown below:

2022-2023
Core Curriculum 43
Pre-Major Courses 10
Major and Related Courses 72
Major Elective Courses 6
Total 131

Requirements for a Major in Risk Management and Insurance:

Students must be accepted into the Risk Management and Insurance major before taking 300-level or above courses in the Department of Business. For continuation in the major, a student must maintain a minimum cumulative GPA of 2.75 in major and non-major courses. A risk management and insurance major must complete at least one internship in the field and are strongly encouraged to achieve at least one Microsoft Office Specialist certification prior to graduation.

 

Required pre-major courses 10 (13)* hours

MAT 102: *Three hours count toward the general education math requirement

This course surveys the fundamentals of business administration, including management, organizational behavior, marketing, economics, statistics, management information systems, accounting, finance, entrepreneurship, international business, and ethics & social responsibility. It is intended both for students who seek a one-time exposure to business as well as those planning to major in a Department of Business program.

This course focuses on computer applications that are used widely in business. The course emphasizes the use of spreadsheets and database applications. Through hands-on training and lectures, student will learn to create professional looking spreadsheet documents and personal database management systems.

Basic concepts of probability and statistics, and applications to the sciences, social sciences, and management. Probability, conditional probability, Bayes Formula, Bernoulli trials, expected value, frequency distributions, and measures of central tendency. Credit will not be allowed for MAT 102 if student has previously passed MAT 130; 102 will not be counted toward a major in the department.

This course emphasizes the meaning and application of the concepts of functions. It covers polynomial, rational, exponential, logarithmic and trigonometric functions and their graphs, trigonometric identities. Passing both MAT 125 and 126 is equivalent to passing MAT 130.

Required core courses 54 hours

This course introduces students to basic financial accounting theory and practice. It teaches students the knowledge and tools to identify and record business activities and to prepare and interpret financial statements and reports in accordance with Generally Accepted Accounting Principles. Students will learn how accounting methods affect the evaluation of business results and the quality of business decisions.

As the second part of introduction to Financial Accounting, this course provides a detailed coverage of long-term liabilities, long-lived assets, stockholder's equity, investments, cash flows, and financial statement analysis. Special topics such as payroll accounting, accounting for partnership, and other related topics are also covered.

Management (or Managerial) Accounting comprises financial and nonfinancial information intended to meet internal users' needs. It involves the development and interpretation of accounting information intended to assist management in the operation of the business. Topics include financial statement analysis and the use of accounting information for planning and control, performance evaluation, and decision-making. The course will cover cost behavior, job order costing, process costing, cost volume-profit relationship, relevant costing/benefits, budgeting, activity-based costing, cash flow and financial statement analysis. Computer lab is required.

This course explores the major functions of management: planning, organizing, leading, and controlling. Within these four functions are subjects such as self-management, organizational structure and culture, leadership, motivating employees, teamwork, human resource management, self-management, change management, and planning and decision-making tools and techniques. This course takes an inside out approach, where the student learns first about themselves and then develops their ability to manage progressively larger and more diverse groups of people and projects.

This course examines the basic principles of marketing and provides the opportunity to develop the critical analysis and management skills needed by successful marketers. Within the framework of the ''product, price, promotion, distribution, and customer'' elements of marketing, course topics include market segmentation, targeting, positioning, consumer behavior, integrated marketing communication, marketing ethics and social responsibility, and the global dimensions of marketing (including e-marketing).

This course is a continuation of the Business Statistics I course. It covers the following topics: hypothesis testing, analysis of variance (ANOVA), linear regression, and the chisquare test of association. These skills will enable students to make effective business decisions and understand when and how these statistical techniques should be applied.

This course is cross-listed and is otherwise known as PHI 341. This course introduces student to the normative theories of moral philosophy and how they apply to the business world. It covers a spectrum of topics in the subjects of conflict of interest, corporate ethics and climate, discrimination, ethical climate, ethical decision-making, ethical issues, and ethical standards. Students will use case studies and current events to critically analyze common ethical issues in the business environment and recommend appropriate course of actions.

This course examines the basic principles of financial management and provides opportunities to develop basic quantitative, research, and critical analytical skills that are useful to a financial manager. Topics include financial managerial functions and responsibilities, risk/return trade-off, ethics and social responsibility, taxation issues, financial institutions and economic environment, interest rate analysis, financial statement analysis, time value of money, and valuation techniques.

This course focuses on the global dimensions of business. It covers a broad spectrum of subjects in foreign direct investment and trade, international cooperate strategies, international governance and regulation, international patents and protections, and multinational culture. The political, cultural, institutional, economic, legal, and technological environmental forces that accompany global business activities are discussed in an integrated manner.

This course introduces students to the American business legal environment and covers basic concepts in contracts, the uniform commercial code, corporations and partnerships, agency, intellectual property, employment, antitrust, consumer protection, security regulation, environmental and international law, and business ethics and social responsibility.

An introduction to data and information processing concepts and systems viewed from a contemporary management perspective. The course provides the conceptual foundations in understanding technologies, such as computer hardware and software, the Internet, networking, security, enterprise computing, e-commerce, database management, and how information systems support business functions. The hands-on labs enable students to develop in-demand skills in business analytics and data management.

Business analytics encompasses the skills, technologies, and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. This course prepares students to interpret data to inform business decisions, recognize trends, detect outliers, summarize data sets, and analyze relationships between variables, etc. Beginning with basic descriptive statistics and progressing to regression analysis, students will implement analytical techniques using software tools, such as Excel, and apply fundamental quantitative methods to real business problems. Selected major-specific projects will be used to enable students to apply functional knowledge and skills associated with their respective major.

This course examines the production phase of business activities. It covers a broad spectrum of subjects in continuous improvement, cost control, data analysis tools, and quality management. Students will learn to analyze and apply methods of design and operation of production systems.

This course, the first of the two-course Senior Capstone sequence, serves to review and reinforce all business functional knowledge in the areas of marketing, finance, accounting, operations/production management, human resources management, organizational behavior, ethics, legal business environment, macro- and micro-economics, global dimensions of business, information management systems, quantitative research techniques and statistics, business leadership, integration, and strategic management. The class will use a hybrid instructional platform which utilizes both online self-paced eLearning and onsite lectures and discussions.

This is the second course of the senior capstone series. It is designed for graduating seniors majoring in Accounting, Business Administration, and Risk Management to synthesize, apply, and integrate all business functional knowledge and their major-specific expertise to solve complex problems in a real and virtual business environment. A variety of instructional techniques such as case studies, simulations, team projects, guest speakers, and field trips may be used to deliver an enhanced capstone experience. Through simulations,students will emulate top corporate executives to develop and implement strategy plans and business policies in a competitive, global business environment.

This course introduces students to the study of economics and provides an overview of common macroeconomic concepts. The course encourages students to understand, use, and analyze common macroeconomic concepts such as inflation, employment, consumption, national income, money, and interest rates, as well as the fundamental economic concepts of supply and demand, marginal analysis, and opportunity costs.

This course provides an overview of common microeconomic concepts. The course encourages students to critically analyze common microeconomic concepts such as supply and demand, prices, markets and market structure, competition, utility, production costs, marginal analysis, and opportunity costs. The underlying theoretical basis for these concepts and how they are interrelated with each other and with the overall economy is also introduced in this course.

Study and intensive practice of professional writing skills and genres, such as resumes, letters of application, emails, memos, short proposals and reports.

Required Risk Management and Insurance courses 18 hours

This course starts with a broad overview of ways to manage risk, and the approach taken by insurance companies to contain these risks. The nature of the insurance contract, the various types of insurance, and their routine components are examined. The use of insurance as a solution for business problems is also explored. Because most employee group benefits are insurance related, those components of a benefit plan are a focal point of the course. Topics such as insurer solvency and profitability, insurance regulation, insurance contracts, and loss exposures mainly in the area of property and liability insurance will be covered.

This course will look at current issues in the Property/Casualty insurance industry. Basic principles, functions and uses of property & casualty insurance; types of policy contracts; calculation of premiums reserves; organization management; supervision of companies.

The course covers off-shore financing, role of reinsurance, history of alternative risk financing, forecasting risk loss, capital market functions, forming captive insurance companies, and use of derivatives in risk management.

This course covers property and casualty underwriting through the principles of underwriting; strategic underwriting techniques; the insurance production environment; and insurance agency management tools and processes. Students will learn to assess whether to accept insurance risks (or groups of risks) and at what price.

This course is designed to give greater coverage to those risk management and insurance topics that are not covered in great detail in other courses. Such as risk assessment and mapping, emerging risks, insurance markets, risk transfer and risk financing, insurance economics, catastrophe risks, Social Security, Public health Insurance, and international risk issues.

Enterprise Risk Management comprehensively addresses all risks faced by an organization - pure risk, speculative financial risks, strategic risks, operational risks and other risks. This course is designed to apply the theories and techniques in the process of planning, organizing, leading and controlling the activities of an organization to minimize risks. It also provides an overview of risk management and insurance markets and products that can be used to help manage the organization¿s risk. In addition, several valuation and risk management tools and models designed to measure and manage risk will be introduced and discussed.

Major Electives courses 6 hours

Choose two courses:

Study of concepts, techniques and principles of cost and management accounting. The use of accounting data for managerial decision making, planning, and control.. Topics include budgeting, cost concepts, cost behavior, cost-volume-profits relationships, inventory control, standard costs, absorption costing versus direct costing, variance analysis, cost allocations, setting price and international issues.

Study of federal income taxation of individuals and their impact on personal and business financial decision making. Topics include: concepts of gross income, deductions, tax credits; business and personal investment deductions; sale and other dispositions of property; changes in tax law and economic impact of the law. Although the course emphasizes income taxation, issues such as gift, estate, partnership and corporate taxation are discussed.

A course that examines the principles of financial investing and provides opportunities to develop basic quantitative, research, presentation, and critical analytical skills that are useful to an investor. Topics include analysis of the investment environment, tools and mechanics of investing (debt instruments, government and municipal securities, common stock, real estate), portfolio construction and management, dealing with securities markets, tax issues in investing, research strategies, financial statement analysis, and risk/return trade-off analysis. This course incorporates student management of an actual investment fund that is a component of Gallaudet University's endowment.

Special topics in the discipline, designed primarily for seniors. Students may enroll in 495 Special Topics multiple times, as long as the topics differ

Program Outcomes

Accurately apply fundamental business concepts, models, and principles to address hypothetical or real-world business issues. (Common Business Knowledge & Inquiry)

 

Communicate effectively in both American Sign Language and written English in various formats and styles to a variety of audiences in multiple business contexts. (Communication)

 

Apply technological tools and statistical and quantitative reasoning skills in analyzing and evaluating numerical information to support evidence-based business decisions.(Quantitative Reasoning & Technological Skills)

 

Critically assess business problems and develop well-supported solutions.(Critical Thinking & Problem Solving)

 

Critically evaluate all business opportunities and challenges using a global business perspective.(Global Dimension)

 

Consistently act in a professional, ethical, and socially responsible manner, and collaborate effectively in teamwork when required.(Ethics & Social Responsibility)

 

RMI Discipline Specialty Knowledge and Inquiry

 

Analyze and assess coverage adequacy in common insurance policies.

 

Apply RMI knowledge and technical tools in evaluating, treating, and monitoring risk factors facing various business entities.

 

Articulate effective insurance policy recommendations based on critical analysis in written reports and presentations.

 

Accreditation

The BS in Risk Management and Insurance (RMI) is accredited by the Council for Business Schools and Programs (ACBSP), a leading specialized accreditation body for business education around the world.

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B.S in Risk Management and Insurance

James Bruner

Edward Miner Gallaudet (EMG) 210

202-250-2375

202-651-5312

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