Info Session Highlights

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2. Global Financial Crisis: 2007-09
• Major errors in risk management
• Major errors in regulation & supervision
• Need for better risk managers, regulators
• Where the new diploma program comes in
– Latest ideas and techniques
• Liquidity risk, counterparty risk, model risk
• Systemic risk, macroprudential policy
• Various behavioural assumptions
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3. The Solution to the Crisis
• 4-month (14-week),
4-course fall program
• Requires an MA in
Economics
– With a specialization
in financial economics
– Or equivalent background, with economics
• Public sector and private sector relevance
– And therefore highly relevant for CMHC
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4. Why a Graduate Diploma?
• Integration of material
– from a wide variety of economic and related fields
• Allows one to understand various approaches
– and their strengths & weaknesses
– and challenges faced by risk managers, regulators
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5. Four Courses in Four Months
• Risk Management (F. Milne)
• Theory of Financial Institutions (F. Milne)
• Financial Regulation (D. Longworth)
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6. Four Courses (Continued)
• Advanced Seminar in Risk Management and
Financial Regulation (Milne and Longworth)
– 12 outside speakers
– Current and former regulators
• Ted Price, former Deputy Superintendent, OSFI
• Mark Zelmer, former Deputy Superintendent, OSFI
• Karen Badgerow and Tom Vice, SVPs, CDIC
– Current and former senior risk officers
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7. Evaluation
• Risk Management:
– mid-term, final
• Theory of Financial Institutions:
– mid-term, final
• Financial Regulation:
– assignments, presentation, paper
• Advanced Seminar:
– participation, preparatory presentations,
– summaries of presentations
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8. Admission Requirements
• Minimum standard of admission will be a B+
(77%-79% or 3.3 GPA) in a MA in Economics
– or equivalent qualification
• Graduate level courses in microeconomics,
macroeconomics, econometrics and basic
finance
– As well as basic knowledge of derivatives pricing
through course work or reading program
– Relevant work experience will be taken into
consideration, but is not a substitute for above
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9. 9
Life in Kingston

10. For those living in Ottawa, Toronto
• Courses from 10 am Monday to 3 pm Thurs.
• So could stay in Kingston for only 3 nights
• Could commute by car or train (2 hours)
• Bed and Breakfasts and apartment hotels
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11. Applications and Info
• On-line through Queen’s by 15 January 2015
• Additional info:
– Web site for prospective students:
http://www.riskpolicy.ca
– Web site for fall ‘14 http://risk.econ.queensu.ca
• Reading lists for the three main courses
Alison Burnett, at burnetta@econ.queensu.ca
Longworth, at longworth@econ.queensu.ca
Milne at milnef@econ.queensu.ca
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