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Weather Risk Management Option

Weather Risk Management Option (27 credits)

Weather and climate are fundamental drivers of economic activity and financial risk. Weather affects a wide range of industries, including energy, agriculture, insurance, construction, retail, and transport, among others. Weather and climate variation play central roles in the availability of water resources, the spread of disease, and an array of other processes vital for human welfare. There are, consequently, many organizations that confront risks related to weather, and that have a demand for experts who can help them manage these risks.

The Weather Risk Management option is designed for students who wish to work professionally at this intersection of meteorology and risk management. The option combines study of meteorology and atmospheric sciences with training in risk, finance, and decision-making.

Meteorology courses required in all options.


University Bulletin -- Undergraduate Degree Programs (Meteorology)


Suggested elective courses for graduate students in weather and climate risk


Required (27 credits):

  • E B F 200 (GS) Introduction to Energy and Earth Sciences Economics (3)

  • E B F 301 Global Finance for the Earth, Energy, and Materials Industries (3)

  • E B F 483 Introduction to Electricity Markets (3) or E B F 484 Energy Economics (3)  or  EME 460  Geo-resource Evaluation and Investment Analysis (3)

  • E B F 473 Risk Management in Energy Industries (3)

  • METEO 436 Radiation and Climate (3)$
    or
    METEO 437 Atmospheric Chemistry and Cloud Physics (3)$
    or
    METEO 454 Introduction to Micrometeorology (3) [Preferred]$

  • METEO 460 Weather Risk and Financial Markets (3)


Select two of the following:

  • METEO 415 Forecasting Practicum (3)

  • METEO 473 Application of Computers to Meteorology (3)#

  • METEO 474 Computer Methods of Meteorological Analysis and Forecasting (3)#


Select one statistics course from the following list:

  • ECON 490 Introduction to Econometrics (3)

  • STAT 318 Elementary Probability (3)

  • STAT 319 Applied Statistics in Science (3)

  • STAT 414 Introduction to Probability Theory (3)

  • STAT 415 Introduction to Mathematical Statistics (3)

  • STAT 460 Intermediate Applied Statistics (3)

  • STAT 462 Applied Regression Analysis (3)

 

Substitutions are possible subject to prior approval by the option director.

# satisfies the the meteorological data analysis course requirement.
$ satisfies the the physical meteorology course requirement.

Total: 27 credits
Comment
: Students are also encouraged to undertake during the course of the program a professional internship with an organization involved with weather risk management.

Related News Stories:

Weather, Wall Street affect U.S. agricultural commodity prices
http://live.psu.edu/story/55762#nw63

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