(Old Version)

RMSC 1101

Elementary Concepts in Risk Management (2021-22 Fall)

Class Information

    • Class time: M 1430–1615

    • ZOOM: 946-5059-8651

    • Pin: <See CUHK Blackboard>

    • Outline: <download here>

Instructor

Teaching assistant

    • Name: Man Fai Billy Ip

    • Email: billyipmf@link.cuhk.edu.hk

    • Office: LSB G32

    • Tel: 3943 8529

Description

This is an elementary course that introduces current issues and special topics in RMSC. Students are required to present and discuss books and current articles in the related topics.

Learning outcomes

    • Ability to present complex (risk-management, statistics, finance) concepts concisely and precisely.

    • Basic computer skills (LaTeX, R-language, etc).

    • Communication with professionals as well as laymen (presentation, discussion, collaboration).

    • Development of job hunting skills (job searching, study planning, etc).

Main content

The theme of this year RMSC 1101 is statistical paradoxes. We will discuss and present some counter-intuitive yet commonly encountered statistical phenomena. The aim is to understand the problems through programming. A short video is provided for each topic listed below. Students are required to watch each video before the corresponding presentation.

Assessment:

Assignment (a out of 10): Complete 3 individual assignments. Hand in any n pieces of them to get a = min(5n, 10). Aims:

    1. start appreciating the art of programming; and

    2. skillfully search for potential solutions on the Internet.

Presentation (p out of 10): Each group is required to (i) deliver a 25-minute presentation on an assigned topic, and (ii) prepare a multiple choice question related to R-programing and the presentation. Aims:

    1. successfully attract the audience’s interest;

    2. concisely outline the problem;

    3. intuitively explain the solution; and

    4. precisely present an R-program to illustrate and/or solve the problem.

Report (r out of 10): Each student is required to write a one-page report on his/her presented topic individually. Aims:

    1. complete the report by LaTeX;

    2. contain one graph produced by R;

    3. demonstrate your own understanding of the problem; and

    4. neatly summarize the problem and the solution.

Discussion (d out of 10): All students (except the presentation group) should discuss the programming question with their groupmates after listening to the presentation, and submit their own answers individually within 5 minutes. The second student who submits the answer will explain the answer with his/her group-mates to earn some bonus points. Submit m (out of 7) correct answers to get d = min(3m, 10). Aims:

    1. effectively discuss new problems with other people; and

    2. present a quick answer without preparation.

Bonus (b out of 1): Bonus points are given to students who enthusiastically participate in this course, including lectures, presentations, discussions, tutorials, etc. Possible ways to earn the bonus points include (but are not restricted to):

    1. give a good answer for the discussion question; and

    2. enthusiastically participate in class and tutorials.

Course materials

Assignments

Course material in the previous years can be downloaded here.