RMI Doctoral Program
 

Risk Management and Insurance Doctoral Program


General Description

The goal of the RMI Doctoral Program is to train students for careers in research, teaching, and service at the college and university level. The RMI Doctoral Program is a full-time, on-campus program that will take the typical student three to five years to complete, depending on the student’s background. Coursework in RMI, finance, economics, and statistics, coupled with colloquia and collaboration with faculty, prepare students to conduct and publish meaningful research. A description of the RMI Doctoral Program is shown below.

Prerequisites

All Risk Management and Insurance doctoral students must satisfy the following prerequisites:

Graduate level courses in:Undergraduate level courses in:
EconometricsCalculus I
Probability TheoryCalculus II
Mathematical Economics Linear Algebra


Analytical Tools and Research Area (TAR)

Students must take five (5) courses in the Tools and Research Area:

  • ECO 5403 Static Optimization
  • ECO 5416 Econometrics I
  • ECO 5423 Econometric Theory
Plus choose two additional quantitative courses in Statistics or Economics numbered 5000 and above with the approval of the primary area adviser. Statistics courses could include STA 5206 (Analysis of Variance), STA 5207 (Applied Regression Methods), and STA 5354 (Intro to Math Statistics.) Also, EDF 5401 (General Linear Model Applications) and EDF 5402 (Advanced ANOVA Applications) may be appropriate courses.


Primary Area

RMI doctoral students must take nine (9) courses for the primary area. The doctoral primary area in RMI covers the foundation, theory, and current practice in the discipline.

  • xxx xxxx - One elective approved by the doctoral advisor
  • RMI 5136 - Employee Benefit Plans
  • RMI 5345 - Risk Management in the Business Enterprise
  • RMI 6195 - Seminar in Life and Health Insurance
  • RMI 6296 - Seminar in Property and Liability Insurance
  • RMI 6395 - Seminar in the Theory of Risk and Insurance
  • RMI 6917 - Supervised Research

In addition to the requirements in the Tools and Research area, RMI doctoral students will take at least two doctoral-level economics courses. The two economics courses will be chosen in consultation with the primary area adviser and will normally be advanced macro- and micro-economics. RMI doctoral students also are expected to have or acquire computer literacy through course work or self study.


Support Area

Students take three (3) or four (4) courses, where no more than two (2) of the Support area courses may be used to satisfy other requirements.

In consultation with the primary area Adviser, students choose a Support area. The Support area provides an opportunity to study in an area complementary to the primary area and the student's interests. The support area normally consists of three or four courses. Typical Support areas are Finance, Econometrics, Real Estate, and Statistics.


Suggested Course Sequence for Risk Management & Insurance Doctoral Students

  FALL SPRING SUMMER
Foundation
Year 		Calculus I
STA 5206
ECO 5114 		Calculus II
STA XXXX
EDF 5401 		Linear Algebra
Elective
Elective
First
Year 		Optimization
ECO 5416 Econometrics I
FIN 6808 Financial Theory I 		Finance
FIN 5935 Financial Theory II
ECO 5423 Econometric Theory 		RMI 6917 Supervised Research
Elective
Second
Year 		STA 5207 or STA 5440
RMI Seminar
Elective or DIS 		FIN 6449
RMI Seminar
STA XXXX 		RMI Seminar
ECO XXXX
STA XXXX
Second
Year 		Dissertation Dissertation Dissertation & Defense


For more information on the Risk Management and Insurance Ph.D Program, please contact Dr. James Carson.