Career Opportunities inFinance Industry andBusiness Analysis         x   F x       f t dt   Dumaria R. Tampubolon, Ph.D
Facts   Living people have needs: primary,    secondary, tertiary   People live on earth and is part of the    universe ...
Facts      UNCERTAINTIES        People die        People get sick        People loose jobs        Natural disasters  ...
Risks   Definition of Risk:    Exposure to the chance of loss or injury   Financial risk:      The probability of loss i...
Statistics   What?    Statistics is the science of collecting,    organizing and interpreting numerical    facts, which w...
Managing Financial Risks   One   way to manage financial risks:    Insurance and Pension Fund   Insurance:    Life Insur...
Insurance: Definition  A   vehicle to transfer pure economic    (or financial) risks   Liability to compensate for loss ...
General Insurance       Relates to the insurance of       property and liability; may also       relate to the insurance o...
Noble Prize for Economics   http://www.pbs.org/newshour/rundown/2    010/10/this-years-nobel-prize-winners-in-    economi...
Noble Prize for Economics   Christopher Sims (professor at Princeton    University) and Thomas Sargent (teaches    at New...
Background knowledge inManaging Financial Risks   Mathematics    and Statistics   Computation (programming,    statistic...
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Free it saturday lesson 19 nov 2011

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Free it saturday lesson 19 nov 2011

  1. 1. Career Opportunities inFinance Industry andBusiness Analysis x F x f t dt Dumaria R. Tampubolon, Ph.D
  2. 2. Facts  Living people have needs: primary, secondary, tertiary  People live on earth and is part of the universe  People need to work  People need to take care and manage (natural) sources Dumaria R. Tampubolon - Free IT 19 November 2011 Saturday Lesson 2
  3. 3. Facts  UNCERTAINTIES  People die  People get sick  People loose jobs  Natural disasters  Accidents occur  Businesses fail/collapse/bancrupt Dumaria R. Tampubolon - Free IT 19 November 2011 Saturday Lesson 3
  4. 4. Risks  Definition of Risk: Exposure to the chance of loss or injury  Financial risk: The probability of loss inherent in financing methods which may impair the ability to provide adequate return. http://www.businessdictionary.com/definition /financial-risk.html Dumaria R. Tampubolon - Free IT 19 November 2011 Saturday Lesson 4
  5. 5. Statistics  What? Statistics is the science of collecting, organizing and interpreting numerical facts, which we call data.  Who uses statistics? government (or policy makers in the government); actuaries, economists; econometricians; financial advisors; policy makers in business; meteorologists; psychologists; politicians; doctors; farmers; engineers and scientists; teachers; etc Dumaria R. Tampubolon - Free IT 19 November 2011 Saturday Lesson 5
  6. 6. Managing Financial Risks  One way to manage financial risks: Insurance and Pension Fund  Insurance: Life Insurance and General Insurance Dumaria R. Tampubolon - Free IT 19 November 2011 Saturday Lesson 6
  7. 7. Insurance: Definition A vehicle to transfer pure economic (or financial) risks  Liability to compensate for loss or damage arising from specified contingencies such as natural disaster, fire, theft, negligence, injury, death, etc Dumaria R. Tampubolon - Free IT 19 November 2011 Saturday Lesson 7
  8. 8. General Insurance Relates to the insurance of property and liability; may also relate to the insurance of the person which is not covered by life insurance. Dumaria R. Tampubolon - Free IT 19 November 2011 Saturday Lesson 8
  9. 9. Noble Prize for Economics  http://www.pbs.org/newshour/rundown/2 010/10/this-years-nobel-prize-winners-in- economics-critics-and-background.html  http://www.huffingtonpost.com/2011/10/1 0/nobel-prize-economics-sargent- simms_n_1003025.html Dumaria R. Tampubolon - Free IT 19 November 2011 Saturday Lesson 9
  10. 10. Noble Prize for Economics  Christopher Sims (professor at Princeton University) and Thomas Sargent (teaches at New York University and a visiting professor at Princeton) are winners of the 2011 Noble Prize for Economics.  Devised tools to analyze how changes in interest rates and taxes affect growth and inflation → create mathematical models that central bankers and other leaders can use to devise policy proposals. Dumaria R. Tampubolon - Free IT 19 November 2011 Saturday Lesson 10
  11. 11. Background knowledge inManaging Financial Risks  Mathematics and Statistics  Computation (programming, statistical package)  Actuarial Science (Statistics, Mathematics, Finance, Economics) Applications in: General Insurance, Life Insurance, Pension Fund, Investment, Risk Management. Dumaria R. Tampubolon - Free IT 19 November 2011 Saturday Lesson 11
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