The Graduate School of Risk Management is a research training group funded by the German Research Foundation (DFG) under the project title "Theoretical and Empirical Foundations of Risk Management". The funding period is between 2002 and 2011.

The Graduate School of Risk Management seeks to promote young researchers. Its focus lies on research that is founded in modern microeconomics and empirical applications. In order to achieve these aims, the faculty’s wide range of professors from the various fields of business and its econometricians work together closely.

The research programme is designed to analyze firm risk and risk management in its entirety. This broad approach is absolutely essential because of the close links between the different kinds of risk (market risk, credit risk, liquidity risk and operational risk) and the different steps in the risk management process (measurement, control and communication of risk). Identifying and quantifying the risks of a firm (risk measurement) constitute the first step in every risk management process. Departing from here these identified and quantified risks can be managed in accordance with the firm’s objectives (risk control) and the remaining risk can be communicated to all involved stakeholders (risk communication). The quality and credibility of any management of risks depend crucially on the quality of the preceding measurement of these risks. This complexity of the research area demands the close cooperation of empirical and theoretical researchers from different disciplines. This is warranted by the composition of the applicant body.

The course programme aims at preparing the participants for their own research projects in the area of risk management. The first phase is a challenging introduction to fundamental methodologies which are particularly important for successful research on risk management. Furthermore, it familiarizes the participants with open research questions. The second phase enables students to specialise in courses which meet their specific research interests. We strive to attract and integrate renowned international experts into this phase in order to make international networks more easily accessible to our students. The third phase mainly aims at supporting the discussion of the ongoing research. This is achieved by organising regular research workshops and encouraging our students to present their research at national and international conferences. Periods as visiting researchers at universities abroad are an integral part of the second and third phase of the course programme.