Ph.D. in Business Administration with a major in Risk Management and Insurance

Placements

East Carolina University; University of Akron; University of Cincinnati; University of Connecticut; Illinois State University; Troy University

Awards

Courtney Bass, 2013-14 Spencer Educational Foundation Pre-Dissertation Award
Jill Bisco, Best Student Paper Award, Southern Risk and Insurance Association Annual Meeting
Dana Telljohann, 2022 Spencer Scholarship award recipient

Defended Dissertations

• "Value and Strategy: An Analysis of the Surplus Line Insurance Market" by Courtney Bass Baggett; Dr. Cassandra Cole, major professor
• “The Role of Asymmetric Information in the U.S. Health Insurance Market,” by E. Tice Sirmans; Dr. Patricia Born, major professor

The RMI doctoral program emphasizes current research topics in Risk Management, Insurance Operations and Performance, Insurance Regulation, and Risk Theory. In addition, students are taught a variety of theoretical and empirical research methods and tools using statistics, econometrics, and mathematical economics.

Prerequisites

All Risk Management and Insurance Doctoral students must have completed undergraduate level courses in Calculus I, Calculus II, and Linear Algebra.

Major Requirements

All RMI doctoral students must complete courses in three areas: Tools for Analytical Research (TAR), Primary RMI and Support.

I. Tools for Analytical Research (TAR) Area

Students must take the following three courses:

• ECO 5403 Static Optimization
• ECO 5416 Econometrics I
• ECO 5423 Econometric Theory

Students must also take three additional quantitative courses in Statistics, or Economics numbered 5000 and above with the approval of the doctoral program adviser. Examples include:

• ECO 5424 Econometrics/Panel Data
• ECO 5427 Limited Dependent Variables
• STA 5440 Probability Theory
• STA 5206 Analysis of Variance
• STA 5207 Applied Regression Methods

RMI doctoral students are expected to have or acquire computer literacy through coursework or self-study

II. Primary RMI Coursework

The primary area courses and seminars provide opportunities for in-depth study. RMI doctoral students must take the following doctoral seminars and courses:

• RMI 6195 Seminar in Life and Health Insurance
• RMI 6296 Seminar in Property and Liability Insurance
• RMI 6395 Seminar in the Theory of Risk and Insurance

Students must take an additional three RMI elective courses approved by the doctoral adviser. Examples include RMI 5136 (Employee Benefit Plans), RMI 5345 (Risk Management in the Business Enterprise).

Students will take at least two additional doctoral-level economics courses that are not included in the Tools and Research area above. The two economics courses will be chosen in consultation with the program director. RMI doctoral students also are expected to have or acquire computer literacy through course work or self-study.

In addition to these courses, first-year and second-year students will participate in a professional development series that will be an additional registered course in each semester of the first two years of the program. The development series is designed to introduce doctoral students to the roles and responsibilities of faculty, including research ethics, communication with faculty at other universities, the research review process, balancing research, teaching and service, among other topics.

In addition to the regularly scheduled seminars, the RMI faculty and doctoral students meet periodically to share the results of recent research conducted by FSU faculty and doctoral students and by invited scholars from other universities. RMI doctoral students are required to attend these RMI brown bag seminars and invited lectures.

III. Support Area Coursework

RMI doctoral students typically choose a support area in Finance. The courses for this support area include:

• FIN 6804 Foundations of Financial Theory
• FIN 6809 Markets and Institutions
• FIN 6842 Empirical Methods
• FIN 6527 Seminar: Corporate Finance/Investments

Normally, three or four courses are required in the support area. In addition, at least two of the courses required in the support area cannot be used to satisfy other requirements. The support area is chosen in consultation with the RMI doctoral program adviser.

There is also a required research paper that must be completed by the end of the second year. The paper is directed by the RMI faculty and is designed to prepare the student for the dissertation and subsequent research.

Sample Course Sequence*

*Actual schedule subject to course offerings and availability.