Risk Management Science

Applicable to students admitted in 2020-21

There is one enrichment stream in the Risk Management Science Programme: Risk Analytics Stream.
Students who got a total score of 30 or above in the best five DSE subjects or have obtained a
cumulative GPA of 3.7 or above in the first or second year of attendance may apply for specializing in
the Risk Analytics Stream.

Major Programme Requirement

Students are required to complete a minimum of 72 units of courses as follows:

Units
1. Faculty Package: 9
Group C: MATH1010
Group E: STAT1011
One course from the following
Group A: LSCI1000 or 1001 or 1002
Group B: CHEM1070 or 1072 or 1280
Group D: PHYS1001 or 1002 or 1111 or 1113, or
Courses from Faculty Package of the Faculty of Business Administration:
DSME1031 or 1040 or HTMG1010 or MGNT1020

2. Required Courses: 42
ACCT1111 or 2111, DSME1030[a], FINA2010#, 3080#[b], MATH1030#,
2010#, RMSC1101#, 2001, 2101, 3101, 4001, 4003, STAT2001#, 2006#,
3007#, 3008#

3. Elective Courses: 21
(a) One course from CSCI1510, 1520, 1530, 1540, 1580 or STAT2005
(b) Choose at least five courses, but no more than three MATH courses, from the
following list:
CSCI2520#[c], ECON3420#, FINA3010#, 3210#, MATH3215#, 3230#,
3240#, 4210#, RMSC4002, 4004, 4005, 4007, STAT4002#, 4003#, 4004#,
4005#, 4006#, 4008#, 4010#, 4012#
(c) One capstone/research course from RMSC4102 or 4202

Total: 72

Explanatory Notes:
1. RMSC courses at 2000 and above level as well as those labelled as # will be included in the
calculation of Major GPA for honours classification.
[a] Students may take ECON1010 as a substitute for DSME1030.
[b] Students may take RMSC4006# as a substitute for FINA3080.
[c] Students may take CSCI2100# as a substitute for CSCI2520.

Risk Analytics Stream

Students are required to complete a minimum of 72 units of courses as follows:

Units
1. Faculty Package: 9
Group C: MATH1010
Group E: STAT1011
One course from the following
 Group A: LSCI1000 or 1001 or 1002
Group B: CHEM1070 or 1072 or 1280
Group D: PHYS1001 or 1002 or 1111 or 1113, or
Courses from Faculty Package of the Faculty of Business Administration:
DSME1031 or 1040 or HTMG1010 or MGNT1020

2. Required Courses: 48
(a) ACCT1111 or 2111, DSME1030[a], FINA2010#, 3080#[b], MATH1030#,
2010#, RMSC1101#, 2001, 2101, 3101, 4001, 4003, STAT2001#, 2005#,
2006#, 3007#, 3008#
(b) One course from CSCI1510, 1520, 1530, 1540 or 1580

3. Elective Courses: 15
(a) Two courses from the following list:
CSCI2520#[c], 3150#, 3160#, 3170#, 3230#, 3320#, 4130#, 4160#, 4180#,
4190#, 4230#, 5030#, 5150#, 5510#, ENGG5108#
(b) Two courses from the following list:
RMSC4002, 4004, 4005, 4007, STAT4002#, 4003#, 4004#, 4005#, 4006#,
4008#, 4010#, 4012#
(c) One capstone/research course from RMSC4112 or 4212

Total: 72

Explanatory Notes:
1. RMSC courses at 2000 and above level as well as those labelled as # will be included in the
calculation of Major GPA for honours classification.
[a] Students may take ECON1010 as a substitute for DSME1030.
[b] Students may take RMSC4006# as a substitute for FINA3080.
[c] Students may take CSCI2100# as a substitute for CSCI2520.

Risk Management Science

Recommended Course Pattern Units
First Year of 1st term
Attendance Faculty Package: Group E: STAT1011 3
Major Required: ACCT1111 or 2111, DSME1030, RMSC1101 7
Major Elective(s):
2nd term
Faculty Package: Group C: MATH1010 6
One course from Science Faculty Package A, B, D or
BA Faculty Package: DSME1031 or 1040 or
HTMG1010 or MGNT1020
Major Required: FINA2010 3
Major Elective(s):
Second Year of 1st term
Attendance Major Required: MATH1030, RMSC2001, STAT2001 9
Major Elective(s): STAT2005 0-3
2nd term
Major Required: MATH2010, RMSC2101, STAT2006 7
Major Elective(s): One CSCI course at 1000 level (if STAT2005 not 0-3
taken)
Third Year of 1st term
Attendance Major Required: FINA3080 (if RMSC4006 not taken), RMSC4003, 9-12
STAT3007, 3008
Major Elective(s):
2nd term
Major Required: RMSC3101, 4001, 4006 (if FINA3080 not taken) 4-7
Major Elective(s): One MATH course, one ECON or FINA course 6
Fourth Year of 1st term
Attendance Major Required:
Major Elective(s): RMSC4202, two RMSC courses 6-9
2nd term
Major Required:
Major Elective(s): RMSC4102 (if RMSC4202 not taken), one RMSC or 3-6
STAT course
Total (including Faculty Package): 72

Risk Management Science (Risk Analytics Stream)

Recommended Course Pattern Units
First Year of 1st term
Attendance Faculty Package: Group E: STAT1011 3
Major Required: ACCT1111 or 2111, DSME1030, MATH1030, 10
RMSC1101
Major Elective(s):
2nd term
Faculty Package: Group C: MATH1010 6
A course from Science Faculty Package A, B, D or
BA Faculty Package: DSME1031 or 1040 or
HTMG1010 or MGNT1020
Major Required: FINA2010 3
Major Elective(s):
Second Year of 1st term
Attendance Major Required: RMSC2001, STAT2001, 2005 9
Major Elective(s): One CSCI course at 1000 level 3
2nd term
Major Required: MATH2010, RMSC2101, STAT2006 7
Major Elective(s): CSCI2520 3
Third Year of 1st term
Attendance Major Required: FINA3080 (if RMSC4006 not taken), STAT3007, 3008, 9-12
RMSC4003
Major Elective(s):
2nd term
Major Required: RMSC3101, 4001, 4006 (if FINA3080 not taken) 4-7
Major Elective(s): One RMSC or STAT course at 4000 level, one CSCI or 6
ENGG course
Fourth Year of st
1 term
Attendance Major Required:
Major Elective(s): RMSC4212, one RMSC or STAT course at 4000 level 3-6
2nd term
Major Required:
Major Elective(s): RMSC4112 (if RMSC4212 not taken) 0-3
Total (including Faculty Package): 72
Minor Programme Title
Risk Management Science

Minor Programme Requirement

Students are required to complete a minimum of 21 units of courses as follows:

Units
1. Required Course: 3
RMSC2001

2. Elective Courses:
(a) STAT1011[a] 3
(b) STAT2102[a] 3
(c) STAT2005 or one course from CSCI1510, 1520, 1530, 1540, 1580 3
(d) Three courses from RMSC4001, 4002, 4003, 4004, 4005, 4007, 9
STAT4004

Total: 21

Explanatory Note:
[a] Students can take either the STAT course or its corresponding equivalent or closely related
course, but not both, as listed below to fulfill the requirement:

STAT courses Equivalent/closely related courses

STAT1011 Introduction to STAT1012 Statistics for Life Sciences
Statistics STAT2001 Basic Concepts in Statistics
and Probability I
DSME2011 Statistical Analysis for
Business Decisions
FINA2220 Quantitative Methods for
Actuarial Analysis I
ENGG2430 or 2450 Probability and Statistics for
or ESTR2002 or 2005 Engineers
ECON2121 Methods of Economic
Statistics
GRMD2102 Fundamental Statistics for
Geographers
SOCI2004 Social Statistics
STAT2102 Basic STAT2006 Basic Concepts in Statistics
Statistical and Probability II
Concepts and DSME2021 Applied Econometrics for
Methods II Business Decisions

Course List

Course Code Course Title Unit(s)

RMSC1101 Elementary Concepts in Risk Management 1
RMSC2001 Introduction to Risk Management 3
RMSC2101 Introductory Topics in Risk Management 1
RMSC3101 Special Topics in Risk Management 1
RMSC4001 Simulation Methods for Risk Management Science and Finance 3
RMSC4002 Financial Data Analytics with Machine Learning 3
RMSC4003 Statistical Modelling in Financial Markets 3
RMSC4004 Theory of Risk and Insurance 3
RMSC4005 Stochastic Calculus for Finance and Risk 3
RMSC4006 Operational Risk Management 3
RMSC4007 Risk Management with Derivatives Concepts 3
RMSC4102 Research Project 3
RMSC4112 Research Project in Risk Analytics 3
RMSC4202 Practicum 3
RMSC4212 Practicum in Risk Analytics 3