Risk Management Courses

Purpose

This page is meant to show you connections between sustainability and core courses in a particular business major. In some cases, these connections may not yet be a part of the course. We are working on that! If you are a student, you can ask for these connections to be a part of the course. If you are a faculty member, you can integrate them in as you see fit.

Course descriptions are adapted from the Penn State University Bulletin. This is not a comprehensive list of courses in the major. Learn more about this major at Penn State Smeal Undergraduate Education. Penn State students can meet with who teach and do research in sustainability.

RM 301: Risk and Decisions

Introduction to decision-making under uncertainty using concepts from probability, statistics, decision theory, and game theory. Students learn to conceptualize and analyze risky decisions, estimate uncertainty, and effectively communicate their analysis.

Sustainability risk management questions to consider:

• What social and environmental data is needed for the statistical analysis and modeling of risk?

• How can statistical models be used to make optimal decisions for both sustainability-outcomes and profitability?

• What is the unique role enterprise risk management professionals can play in supporting the sustainability/ESG performance of the enterprise?

RM 302: Risk Management and Insurance

Introduces risk management processes used by individuals and organizations, with emphasis on risks commonly addressed through the commercial insurance market. The course explores the goals, methods, and cost-benefit considerations of managing risk, highlighting the role of insurance as a key risk mitigation tool.

Sustainability risk management questions to consider:

• How are regulations like those pertaining to environmental, social and governance risks integrated into the corporate ERM function?

• How does the enterprise risk management process address the issue of climate change?

• How are the objectives of sustainability consistent with the objectives of corporate risk management?

RM 405: Corporate Risk Management

Focuses on enterprise-level risk management strategies, including loss control, risk transfer, financing alternatives, and the design and funding of corporate benefit programs. Emphasizes integration of risk into strategic planning and regulatory compliance.

Sustainable risk management questions to consider:

• How can the risk management process be used to deal with climate change?

• What is the role of enterprise risk management in corporate governance?

• Do investors value the money that corporations spend on sustainability?

Explore More Sustainability-Focused Courses

Curious about how sustainability fits into your academic journey? Browse at Smeal and Penn State that highlight sustainability in business, society, and the environment.