363-0564-00L  Entrepreneurial Risks

SemesterSpring Semester 2021
LecturersD. Sornette
Periodicityyearly recurring course
Language of instructionEnglish



Courses

NumberTitleHoursLecturers
363-0564-00 GEntrepreneurial Risks2 hrs
Wed16:15-18:00HG E 5 »
D. Sornette

Catalogue data

AbstractDimensions of risks with emphasis on entrepreneurial, financial and social risks.

What young entrepreneurs need to know from start-up creation to investment in innovation.

Perspectives on the future of innovation and how to better invent and create.

How to innovate and scale up and work with China.

Dynamical risk management and learning from the failure of others.
ObjectiveWe live a in complex world with many nonlinear
negative and positive feedbacks. Entrepreneurship is one of
the leading human activity based on innovation to create
new wealth and new social developments. This course will
analyze the risks (upside and downside) associated with
entrepreneurship and more generally human activity
in the firms, in social networks and in society.
The goal is to present what we believe are the key concepts
and the quantitative tools to understand and manage risks.
An emphasis will be on large and extreme risks, known
to control many systems, and which require novel ways
of thinking and of managing. We will examine the questions
of (i) how much one can manage and control these risks,
(ii) how these actions may feedback positively or negatively
and (iii) how to foster human cooperation for the creation
of wealth and social well-being.

The exam will be in the format of multiple choice questions.
ContentPART I: INTRODUCTION

Lecture 1 (19/02): Risks (and opportunities) in the economic, entrepreneurial and social spheres
(D. Sornette)


PART II: START-UPS AND INVESTMENT IN INNOVATION

Lecture 2 (26/02): Setting the landscape on entrepreneurship and private investment
(P. Cauwels)

Lecture 3 (04/03 and 11/03): Corporate finance
(P. Cauwels)

Lecture 4 (18/03): Legal, governance and management
(P. Cauwels)

Lecture 5 (25/03): Investors in the innovation economy
(P. Cauwels)


PART III: HOW TO PREDICT THE FUTURE

Lecture 6 (01/04): Historical perspective
(P. Cauwels)

Lecture 7 (08/04): The logistic equation of growth and saturation
(D. Sornette)

Lecture 8 (22/04): Future perspective
(P. Cauwels)

Lecture 9 (29/04): The fair reward problem, the illusion of success and how to solve it
(P. Cauwels)


PART IV: HOW TO WORK WITH CHINA
“if China succeeds, the world succeeds; if China fails, the world fails” (D. Sornette).

Lecture 10 (06/05): The macro status in China and the potential opportunity and risks for the world
(K. Wu)

Lecture 11 (13/05): The collision of the two opposite mindsets: Innovation and Entrepreneurship in China and Switzerland
(K. Wu)


PART V: ESSENTIALS ON DYNAMICAL RISK MANAGEMENT

Lecture 12 (20/05): Principles of Risk Management for entrepreneurship
(D. Sornette)

Lecture 13 (27/05): The biology of risks and war principles applied to management
(D. Sornette)
Lecture notesThe lecture notes will be distributed a the beginning of
each lecture.
LiteratureI will use elements taken from my books

-D. Sornette
Critical Phenomena in Natural Sciences,
Chaos, Fractals, Self-organization and Disorder: Concepts and Tools,
2nd ed. (Springer Series in Synergetics, Heidelberg, 2004)

-Y. Malevergne and D. Sornette
Extreme Financial Risks (From Dependence to Risk Management)
(Springer, Heidelberg, 2006).

-D. Sornette,
Why Stock Markets Crash
(Critical Events in Complex Financial Systems),
(Princeton University Press, 2003)

as well as from a variety of other sources, which will be
indicated to the students during each lecture.
Prerequisites / Notice-A deep curiosity and interest in asking questions and in attempting to
understand and manage the complexity of the corporate, financial
and social world

-quantitative skills in mathematical analysis and algebra
for the modeling part.

Performance assessment

Performance assessment information (valid until the course unit is held again)
Performance assessment as a semester course
ECTS credits3 credits
ExaminersD. Sornette
Typegraded semester performance
Language of examinationEnglish
RepetitionRepetition only possible after re-enrolling for the course unit.
Additional information on mode of examinationOnline Exam in the format of multiple choice questions on the xYotta platform of the chair of Entrepreneurial Risks.

Learning materials

No public learning materials available.
Only public learning materials are listed.

Groups

No information on groups available.

Restrictions

There are no additional restrictions for the registration.

Offered in

ProgrammeSectionType
GESS Science in PerspectiveEconomicsWInformation
GESS Science in PerspectiveD-MTECWInformation
Management, Technology and Economics MasterRecommended Elective CoursesWInformation