The spring semester 2021 will certainly take place online until Easter. Exceptions: Courses that can only be carried out with on-site presence. Please note the information provided by the lecturers.

363-1017-00L  Risk and Insurance Economics

SemesterSpring Semester 2016
LecturersW. Mimra
Periodicityyearly recurring course
Language of instructionEnglish

AbstractThe course covers economics of risk management and insurance. Main topics are risk measures and risk management methods, supply and demand of insurance, asymmetric information in insurance markets and insurance regulation.
ObjectiveThe goal is to introduce students to basic concepts of risk, risk management and economics of insurance.
Content- what is the rationale for risk management?
- measures of risk and methods of risk management
- demand and supply of insurance
- information problems in insurance markets: moral hazard, adverse selection, fraud
- insurance regulation
Literature- Ray Rees and Achim Wambach (2008), The Microeconomics of Insurance, Foundations and Trends in Microeconomics: Vol. 4: No 1-2.

- Eeckhoudt/Gollier/Schlesinger (2007), Economic and Financial Decisions under Risk, Princeton University Press.

- introductory background reading: Harrington/Niehaus (2003), Risk Management and Insurance, McGraw Hill.