Economic risks and methods of their measurement

Type: Normative

Department: department of digital economics and business analytics

Curriculum

SemesterCreditsReporting
74Exam

Lectures

SemesterAmount of hoursLecturerGroup(s)
732Vaskiv O. M.УФЕ-31с

Laboratory works

SemesterAmount of hoursGroupTeacher(s)
732УФЕ-31сVaskiv O. M., Vaskiv O. M.

Course description

Risk is inherent in any sphere of human activity. This is due to many conditions and factors that affect the positive outcome of decisions made. The risk of non-receipt of forecast indicators began to manifest itself more clearly in commodity-money relations, competition of economic entities. Any subject of market relations shows its own willingness to take risks in conditions of uncertainty, because along with the risk of losses there is the possibility of additional income. Therefore, the formation of market relations based on economic laws, necessitated the study of risk theory.

The subject of the discipline

The subject of the discipline is theoretical and practical issues of economic risk analysis, mathematical methods and modeling the behavior of economic systems taking into account the risk.

The purpose and objectives of the discipline

The aim of the discipline is to fundamentally train future specialists in economics and finance with systematic knowledge of analysis, modeling and management of economic risk, strategy and tactics of crisis management of an economic object in real conditions, to teach to make optimal decisions in situations of uncertainty and conflict. to develop in future specialists an understanding of the essence of economic phenomena and processes.

The main tasks : the acquisition of skills to assess and analyze the degree of risk-making management decisions to ensure effective management of the enterprise, operating in an unstable environment; development of future specialists’ deep understanding of the essence of economic phenomena and processes; flexible professional thinking, mastery of modern, risk-taking, methodology of analysis and rational decision-making, strategy and tactics of crisis management of the economic object in real conditions.

The place of the discipline in the structural and logical scheme

The discipline “Economic risks and methods of their measurement” is interconnected with such disciplines as “Macroeconomics”, “Microeconomics”, “Informatics”, “Mathematics for economists”, “Economic and mathematical modeling”.

Requirements for knowledge and skills

As a result of studying the discipline, students must:

a) know :

  • source, object and subject of risk;
  • main categories of economic risk;
  • principles of economic risk management;
  • classification of types of risk;
  • general and specific methods of risk measurement; quantitative and qualitative, as well as absolute and relative risk assessments;
  • criteria for choosing management decisions in terms of risk;
  • methods of reducing economic risk;
  • basic scientific approaches and modern concepts of risk science;
  • problems of application of theoretical developments of risk science to the Ukrainian market;
  • the possibility of using risk in decision-making in conditions of uncertainty;
  • priority research of Ukrainian risk scientists

b) be able to :

  • carry out qualitative and quantitative risk analysis of projects;
  • develop measures to optimize and manage risk;
  • determine the type of risk that affects a particular management decision;
  • quantify the impact of risk using economic and mathematical methods;
  • make optimal management decisions using a variety of game theory criteria;
  • apply risk to the formation of a portfolio of securities, “currency basket”, risk management in management;
  • to develop and solve topical issues of theory and practice of entrepreneurial activity in conditions of risk;
  • apply knowledge of risk in practice.

Recommended Literature

  1. Balabanov IT Risk management / IT Balabanov. – М .: Финансы и статистика, 1996. – 156 с. Berezhnaya EV Mathematical methods of modeling economic systems: textbook. allowance. / EV Berezhnaya, VI Berezhnaya. – М .: Финансы и статистика, 2002. – 368 с.
  2. Vitlinsky VV Analysis, assessment and modeling of economic risk / VV Vitlinsky. – К.: ДЕМІУР, 1996. – 212 с.
  3. Vitlinsky VV Risk in management / VV Vitlinsky, SI Nakonechny. – К.: ТОВ “Бори сфен-М”, 1996. – 326 с.
  4. Vitlinsky VV Risicology in economics and entrepreneurship: Monograph / VV Vitlinsky, GI Velikoivanenko. – К.: КНЕУ, 2002. – 490 с.
  5. Granaturov VM Economic risk: essence, methods of measurement, ways of decrease / VM Granaturov. – М .: Изд. “Delo i Servis”, 1999. – 112 p.
  6. Klebanova TS Theory of economic risk: textbook. allowance. / TS Klebanova, EV Raevneva. – H .: Publishing House “INZHEK”, 2006. – 208 p.
  7. The working program of the discipline “Theory of economic risk” for students in the direction of training 6.030506 “Applied statistics” full-time / way. OV Raevneva, OI Brov-ko. – H .: KhNEU them. S. Kuznets, 2015. – 48 p. (Ukrainian language).
  8. Yastremsky OI Modeling of economic risk / OI Yastremsky. – К.: Либідь, 1992. – 80с.
  9. Klebanova TS Theory of economic risk: textbook. allowance. / TS Klebanova, EV Raevneva. – H.: Izd. HGEU, 2001. – 132 p.
  10. Klebanova TS Theory of economic risk: textbook. allowance. for independent study of the discipline / TS Klebanova, EV Raevneva. – H .: Publishing House “INZHEK”, 2003. – 272 p.
  11. Klebanova TS Theory of economic risk: textbook. allowance. – 2nd ed., Reworked. and add./ TS Klebanova, EV Raevneva. – H .: Publishing House “INZHEK”, 2007. – 208 p.

 

Additional:

  1. Algin AP Risk and its role in public life / AP Algin. – М.: Мысль, 1989. – 188 с. Goncharov IV Risk and acceptance of management decisions: textbook. way. / IV Goncharov. – H.: NTU “KhPI”, 2003. – 150 p.
  2. Grabovy PG Risks in modern business / PG Grabovy, SN Petrova. – М .: Изд. Alance, 1994. – 200 p.
  3. Ermoliev Yu. M. Metody stochasticheskogo programmirovaniya / Yu. M. Ermol’ev. – М.: Наука, 1976. – 312 с.
  4. Kantorovich LV Economics and optimization / LV Kantorovich. – М .: Наука, 1990. – 212 p.
  5. Kini RL Decision-making under many criteria: preferences and substitutions / RL Kini, H. Raifa. – М .: Мир, 1982. – 132 с.
  6. Klebanova TS Theory of economic risk: textbook. allowance. / TS Klebanova, EV Raevneva. – H.: Izd. HGEU, 2001. – 132 p.
  7. Morris UT Management Science. Bayesian approach / W. T. Morris. – М .: Мир, 1971. – 152 с.
  8. Petrakov N. Ya. Factor of uncertainty and management of economic systems / N. Ya. Petrakov, VI Rotar. – М.: Наука, 1985. – 116 с.
  9. Reisenberg BA Entrepreneurship and risk / BA Reisenberg. – М .: Знание, 1992. – 56с.
  10. Von Neumann D. Game theory and economic behavior / D. Von Neumann, O. Morgenstern. – М.: Наука, 1970. – 707 с.
  11. Harris J. Money Theory / J. Harris. – М .: Мир, 1977. – 368 с.
  12. Economic risk and methods of its measurement / ed. T. Bachkai. – М.: Экономика, 1979. – 184 с.
  13. Chetyrkin EM Metody finansovykh i kommercheskikh raschetov / EM Chetyrkin. – М.: Дело, 1993. – 88 с.

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