2500 word paper

“Risk analysis will be crucial in the post-Covid
world.
”
Critically discuss this statement using relevant theories, empirical
evidence, and real-life case studies.

A maximum word count (2,500 words)… 10% tolerance
The overall word count includes:
➢citations and quotations
➢headings and subheadings
• The overall word count excludes:
❖the references or bibliography at the end of the coursework
❖figures and tables (only if they contain numbers or stats)
❖appendices (do not use them unless necessary; they are not marked!)

– Font: Verdana 11 point
– Spacing: 1.5 spaced
– Margins: Normal (2.5 cm)
– Referencing: Harvard citation style

Try to find up-to-date articles
• Read minimum reading + reading list
• Read around about the context. Are there recent
government or industry reports on the subject?
• Look up key authors and see what they’re working
on at the moment
• Search on Google Scholar
Essay structure
• Introduction (10%)
• Theories (25%-30%)
• Empirical Evidence (25%-30%)
• Case Studies (25%-30%)
• Conclusion (10%)
• References (excluded from the
word count)
Things to consider:
Allianz Risk Barometer
• The Allianz Risk Barometer is an annual report
identifying the top corporate risks for the next 12
months and beyond, based on the insight of more
than 2,700 risk management experts from 92 countries
and territories.
• It is available under this link:
https://www.agcs.allianz.com/news-and-insights/reports/allianz-risk-barometer.html

You may focus on:
–One or more covid-related risks
–Covid exposure in a particular industry
–Covid exposure in a particular country
–Covid-related concepts/contexts (e.g.
insurance, VaR, Plan B, etc.)

Some interesting topics could be:
– Cyber risks (insurance)
– Business interruption risks (insurance)
– Supply chain disruption risks (insurance)
– Business Continuity Plans
– Governmental policies to address covid outbreak
– Workplace risks (physical and mental)
– Financial and non-financial risks of Covid
– Covid as an idiosyncratic risk and/or systemic risk
– Radical changes in business models (for example,
developing websites to promote online sales)
– Individual risk-taking behaviors (for example, anti-vaxxers)
You are expected to discuss the following points:
1) Theory:
– Definition(s) of the covid-related context(s) you’ve chosen
– How the situation has changed after the Covid outbreak (i.e.
compare before and after January 2020)
2) Empirical Evidence:
– Critical summary of some academic and non-academic articles
about the covid-related risk(s)/context(s) and how they have
been managed by the relevant stakeholders (e.g. governments,
policymakers, NHS, firms, individuals, etc.)
– You don’t have to collect financial data or run regressions!
3) Case Study:
– Discuss one (or more) real-life case studies of the covid-related
risk(s)

You can relate your discussions:
• Expected Value Rule (e.g. expected covid-related losses)
• Subjective Expected Utility Theory (SEUT)
• Prospect Theory:
– Risk Aversion vs. Loss Aversion (e.g. anti-vaxxers)
– Reference Point (e.g. the pre-covid status)
– Certainty Equivalent (e.g. insurance against covid-related
risks)
– Heuristics (cognitive biases)
• Risk-Wage Trade-off (e.g. jobs that are more vulnerable to
covid risks should get higher compensation)

• Information Asymmetry (e.g. Covid unknowns)
• Ruin Theory (e.g. economic capital buffers)
• VaR (e.g. tail risks/extreme losses)
• Diversification (e.g. asset portfolios)
• Cyber Exposure (e.g. digitization risks)
• Idiosyncratic and Systemic Risks (e.g. Supply chain
disruptions)