Seminar in Public Risk Management

                                                      Public Management (PMGT) 5280

 

Paul Trogen                          214C Sam Wilson Hall                    Optional Friday Face to Face

trogenp@etsu.edu                 439-6631                                       Meetings if Needed   

                                                   

Course Catalog Description:

An introduction to the subject of Risk Management in the public sector.  The problem of uncertainty or loss is an issue that is receiving increased attention in the public sector.  The course examines areas of risk, classification of risk, and ways in which risk can be managed or addressed.

 

1. Seminar:

Dictionary Definition: a conference, or a course of study by advanced students.  The seminar concept implies independent reading, discussion (in an on line course this discussion is online) to organize and synthesize the material.  This is a good course to take if you like to read and get involved in active learning by discussing online.

 

2. Public:

The skills we are learning here are similar in the public and private sector.  Our book is often used by business students.  Risk, however, is more sensitive subject in the public sector. Unlike the private sector where buying stock is voluntary, membership in public entities, like cities, counties and states, is automatic instead of voluntary.  This makes careful stewardship a serious moral responsibility.

 

3. Risk:

Our text suggests risk is an exposure to adversity or the possibility of loss.  Possibility means risk is about uncertain events, even if we can estimate the probability of those events.

 

4. Management:

We cannot eliminate the possibility of loss.  By management we mean ways to avoid, reduce, or transfer risk.

 

Purpose:

Risk management normally a function of the finance department, which is one of the most responsible and best paid professions in government.

 

Course Objectives/ Outcomes:

Students who complete this course will:     

1) To understand the basic concepts and vocabulary of Risk Management.

2) Learn to identify risk.

3) Learn techniques to minimize risk.

4) Learn when and how to use techniques, like insurance, to transfer risk.

5) Learn when it makes sense to accept risk, often referred as the choice to “self insure.”

 

Learning Activities:

This course is built on six learning activities: readings, lecture, practice problems, homework, review of homework, and presentations.  

1) Reading.  Books are expensive!  Our book is a classic risk management text.  If you look early, you should be able to locate the book used at considerable savings.  Still, to get the best return on your investment, please read assigned readings at the beginning of the week. Readings are designed to prepare you for online discussions and other learning activities

2) Power point outlines. Will give you an idea about what the publisher thinks is the most important material, how the publisher organizes these main ideas in the chapter.

3) Online discussion.  Online discussion will allow you to process materials interactively and to formulate your own ideas in a very natural way.

4) Practice Quiz. A short, non-graded quiz of about 4 randomly drawn questions will give you feedback about how your understanding of the chapter compares with the concepts the publisher wanted you to understand.

5) Quizzes.  Graded quizzes are longer collections of randomly drawn questions to allow you to to record your mastery of a chapter before moving on to the next chapter.

6) Exams. Graded exams conducted once or twice a semester test your retention and synthesis of key concepts.

7) Optional Face to Face Meeting may be scheduled on Friday if students feel a need for face-to-face interaction. These are not required and will be scheduled on an ad-hoc basis.  Face to face meetings are to resolve difficulties with the material that cannot be resolved online, and do not replace participation in the on-line discussions.  Email me if you would like to schedule a Friday face-to-face session.