Welcome From the Chair
Welcome to the newly redesigned website of the Department of Risk Management and Insurance in the J. Mack Robinson College of Business at Georgia State University. Our department is a world-leader in risk management scholarship and education. We owe our success to an outstanding student body, high-achieving graduates, an innovative faculty who are leaders in their respective fields, and the generosity of our financial supporters and friends through the GSU Risk Management Foundation (formerly EFI).
We are proud of our programs and these are just some of the factors that make us unique:
While most other business schools with risk management programs typically focus exclusively on insurance, Georgia State’s view is much broader. Our curriculum exposes students to financial concepts in all markets where risk trades, including insurance markets, capital markets, and through explicit and implicit contracts. This broader focus deepens our students’ understanding and appreciation for the opportunities and challenges of a career in risk management. In addition, this education experience makes our graduates more attractive and valuable to prospective employers, and is consistent with job descriptions of those working in the risk management industry.
World Class Faculty
The RMI department has one of the largest full-time faculties in the world dedicated to understanding, quantifying, and developing strategies for managing risks faced by individuals, organizations, and society. Students consistently rank our department faculty among Robinson’s highest in teaching effectiveness and top five in the Georgia State University Freshman Learning Community.
Since 1999, the department has received:
- A University System of Georgia Board of Regents
Teaching Excellence Award
- 15 Robinson faculty recognition/excellence awards
- 3 national teaching excellence awards, including the prestigious Academy of Legal Studies in Business Junior Faculty Award
Cutting Edge Research
We boast one of the largest research faculties and RMI doctoral programs in the world. RMI faculty members are renowned as the best in their fields for research and thought leadership. Their expertise is often sought by media, other academicians, and public and private organizations. Several of our faculty have been called upon to provide expert testimony before members of the U.S. Senate and House of Representatives.
Our faculty members conduct research on the economic analysis of risk in its broadest sense. We study decision-making under risk and uncertainty at the individual, institutional, and societal levels. For example, we examine how individuals make personal financial planning decisions under conditions of uncertainty. At the institutional level, we study how firms and financial intermediaries such as banks and insurance companies evaluate and manage risk. At the societal level, we analyze how governmental and private regulatory agencies manage aggregate risk exposures and allocate risk across society through laws and regulations.
Consistent with our broad research vision, RMI faculty members have diverse academic backgrounds in economics, finance, law, applied mathematics and statistics. We are especially interested in utilizing the cross-disciplinary synergies to address problems at the frontier of research on the economics of risk. RMI faculty members:
- Have received 18 awards for research (1999-2008)
- Make over 40 research presentations annually to a broad range of audiences worldwide
- Publish 20 or more articles annually in many of the top academic and practitioner journals
In addition to individual faculty research, the department sponsors two research centers.
Center for Risk Management and Insurance Research
Established in 1969, the Center studies and disseminates information on trends and issues in the broadly defined areas of insurance and risk management. Recent studies include homeowners insurance, insurer insolvencies, catastrophe risk management, insurance deregulation, international trade in insurance, and studies of the health insurance market nationally and in Georgia.
Center for the Economic Analysis of Risk (CEAR)
In 2009 Georgia State University launched its newest research center—the Center for the Economic Analysis of Risk (CEAR)—as a cooperative effort of Georgia State’s Robinson College of Business (with RMI as the lead department), the Andrew Young School of Policy Studies, and the Federal Reserve Bank of Atlanta. CEAR is under the leadership of inaugural director Dr. Glenn Harrison, an economist internationally renowned for his work modeling risk attitudes using controlled experiments and behavioral econometrics. Once fully operational, CEAR will have a multi-million dollar budget with a network of over 100 researchers worldwide participating, both physically and virtually, in its activities. A major initiative for Robinson and Georgia State, CEAR is substantial in scope, well funded, and highlights the commitment of the university to this effort.
As the first research center of its kind, CEAR’s mission is to conduct and promote economic research on the measurement and management of risk faced by individuals, institutions, and societies. CEAR’s vision will be to establish ‘risk’ as an academic discipline and to become the world’s intellectual leader in the conduct and dissemination of risk scholarship. CEAR, which will be the largest center for the study of risk in the world, will not only enhance the study of risk, but also underscore Georgia State’s thought leadership in this discipline.
I hope you'll explore this website and learn more about how the Deaprtment of Risk Management and Insurance can help you succeed.
Martin F. Grace
Department Chair and Professor