Business Economics BA (Hons) Add to your prospectus

  • Offers study abroad opportunities Offers study abroad opportunities
  • Opportunity to study for a year in China Offers a Year in China
  • This degree is accreditedAccredited

Key information


  • Course length: 3 years
  • UCAS code: LN11
  • Year of entry: 2018
  • Typical offer: A-level : ABB / IB : 33 with no score less than 4 / BTEC : Applications considered

Module details

Programme Year One

The first year aims to introduce students to the subjects that provide the foundation for an economic study of business. Students must take four compulsory modules, with the remaining four being selected from the business-related pathways that the student has elected to follow (Accounting and Finance or International Business)

Year One Compulsory Modules

  • Mathematics for Economics and Business (ECON111)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting75:25
    Aims

    This module introduces students to the application of mathematics to economics, management and accounting. The material will show how mathematical methods can be applied to problems in market analysis, compound interest, investment appraisal and agent optimisation (eg consumer utility maximisation and firm profit maximisation). The module design takes account of students'' differing mathematical backgrounds in conjunction with the need to prepare all students for second and third year courses.

    Learning Outcomeshave a good grasp of basic mathematical techniques in the study of supply and demand curves;

      ​be familiar with the basic techniques of calculus and their applications to economics: the analysis of profit, revenue etc;

      ​have a working knowledge of the basic mathematics of finances

  • Statistics for Economics and Business (ECON112)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting80:20
    Aims
  • The fundamental aim of this module is to give students an understanding of how statistics operates in Business and Economics;

  • ​To provide both a foundation for further study and a broadly based introduction to statistics;

  • To enable students to summarize, present and analyze data from a sample;
  • ​To enable students to understand and apply the practice of statistical inference to sample data to estimate full population variable parameters;

  • To enable students to ​work comfortably with variables as probability distributions, introducing some common and practicably useful probability distributions.

  • Learning OutcomesThebasis of data analysis

    ​Thefundamental notion of statistical inference

    ​Summarise,describe and present raw data

    ​Estimatethe mean of a population (and other statistics)

    ​Howto formulate and test hypotheses about values in the population based on randomsamples

    Howto carry out basic statistical computations and graphical analysis

    Howto identify and model relationships between two variables

    Understandthe use of probability in statistics

    Communicatingresults

  • Principles of Microeconomics (ECON121)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    This module aims to provide students with a clear foundation of the purpose, scope and topics of microeconomic analysis. Students will develop their ability to think critically and analytically, and understand how to frame real world problems in an economic model. This module forms the starting point for all future courses in Microeconomics. 

    This module also emphasizes the role of mathematics in economics.

    Learning Outcomes

    ​Students will have the ability to understand, explain, analyse and solve core problems in microeconomics.

    ​Students will be able to practice and develop their mathematical techniques and understand the role of mathematical analysis in Microeconomics.

    ​Students will be able to familiarise themselves with the principles of using an ''economic model'' and how to model individual decision-making for both consumers and producers.

    ​Students will be able to apply their understanding of economic decision-making, optimisation and equilibrium to real world situations.

  • Principles of Macroeconomics (ECON123)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting40:60
    Aims

    The aims of this module are:

    • To complement and build on Principles of Microeconomics and to provide a foundation for further studies in macroeconomics
    • To introduce concepts and theories of economics which help understand changes in the macroeconomic environment
    • to explain and analyse the formulation of government macroeconomic policy
    Learning Outcomes

    ·        Explainthe relationship between expenditures and national income and demonstrate howmonetary and fiscal policies may be used to influence them

    ·        Explainthe behaviour of economic aggregates such as national income, inflation andunemployment over time

    ·        Explainand assess government policy in a range of policy situations

    ·        Explainthe framework of national income accounting

    ·        Usegraphical and algebraic modelling to analyse the economy and economic policy

    ·        Explainthe interconnections between the markets for goods, money and labour

    ·        Explainthe principal influences on long-term growth and the short-run fluctuation inoutput around the long-run growth trend

    ·        Locate,select and analyse information relevant to assessing the state of the economyand economic policy

  • Skills for the Professional Economist (ECON115)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting0:100
    Aims

    ​This module aims to provide students with an understanding of some of the skills required of the professional economist in the current business environment, and the opportunity to acquire and apply those skills.

    Learning Outcomes

    ​To develop an understanding of the importance of written and verbal communication from personal and business perspectives

    ​To gain experience in working with others and in developing effective relationships

    ​To build confidence in being able to present in front of others

    ​To gain an awareness of the commercial issues facing organisations

    ​To develop an awareness of digital capabilities relevant to economists

    ​To develop an understanding of scientific programming skills and/or data sources and databases relevant to economists e.g. SQL, MatLab, R, Excel, VBA, Maple

Year One Optional Modules

  • Introduction to Financial Accounting (ACFI101)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting70:30
    Aims

    To develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double entry accounting techniques in recording transactions, adjusting financial records and preparing basic financial statements. 

    Learning Outcomes

       Prepare basic financial statements

    ​Explain the context and purpose of financial reporting

    Demonstrate the use of double entry and accounting systems​

    ​Record transactions and events

    ​Prepare a trial balance

  • Introduction to Management Accounting (ACFI102)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    The aim of this module is to introduce students to the nature and purpose of management accounting and to establish a sound foundation in its fundamental techniques.

    Learning Outcomes

    ​Understand, interpret and analyse management accounting information, and demonstrate an awareness of the importance of non-financial factors;

    ​Evaluate the usefulness of various techniques in different situations and for different purposes.

  • Introduction to Finance (ACFI103)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims
  • to introduce the students to finance.

  • to provide a firm foundation for the students to build on later on in the second and third years of their programmes, by covering basic logical and rational analytical tools that underpin financial decisions

     

  • Learning Outcomes

    Understand the goals and governance of the firm, how financial markets work and appreciate the importance of finance.


    ​ Understand the time value of money

    ​Understandthe determinants of bond yields

    ​Recognizehow stock prices depend on future dividends and value stock prices

    ​Understandnet present value rule and other criteria used to make investment decisions

    ​Understand risk, return and the opportunity cost of capital

    ​Understandthe risk-return tradeoff, and know the various ways in which capital can beraised and determine a firm''s overall cost of capital

    ​Knowdifferent types of options, and understand how options are priced

  • International Business Environment (MKIB152)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    AimsStudents will be both introduced to relevant theoretical and conceptual frameworks and given a firm empirical understanding of the international business environment. The module will enable students to understand the challenges of international business and develop their knowledge and skills in the strategic issues multinational firms face. 

    The module will also help students become aware of key political, socio-economic, and cultural dynamics and trends that characterize the globalized business environment. Finally, the module will cover the ethical and social responsibility consideration when doing business in a global scale.

    These aims will be achieved via a combination of lectures and seminars.

    Learning Outcomes

    ​Students will be able to develop an understanding of the principles underlying the internationalization of businesses

    ​Students will be able to develop an awareness of the current trends in international business environment

    ​Students will be able to developn understanding of the social, economic, political and cultural factors that influence international business.

    ​Students will be able to develop the ability to critically evaluate the internationalization strategies of firms and apply them in a practical context.

    ​Students will be able to develop an understanding of how diversity of moral and ethical norms in foreign locations affects key issues in corporate governance and corporate social responsibility.

  • Fundamentals of Marketing (MKIB153)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting50:50
    Aims

    The aim of this module is to provide a grounded appreciation of the utility and universality of a marketing orientation as the process by which organisations align themselves to their operating environment, customers/stakeholders and markets

    Learning Outcomes

    understand the nature of the marketing environment and its relevance for the organisation and marketing practice


  • ​specifically, to be able to undertake an analysis of customer and competitive environments

    ​understand the fundamental philosophy of marketing and its application in both business and not-for-profit organisations

    ​identify and be able to apply key marketing concepts to aid marketing and business decisions

    ​be able to demonstrate an understanding of the pratical aspects and processes of marketing

  • The European Economic Environment (ECON159)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting75:25
    Aims

    The aim of this module is to introduce students to:

    1. the theoretical basis of economic integration
    2. the main economic features of the European Union
    3. the workings of the main institutions
    4. the major current policy issues.

    Learning Outcomesdescribe the main economic aspects and working of the EU in recent years
    identify major economic problems experienced by the EU

    use appropriate economic analysis to examine such problems

    followdebates on current developments within the EU

    cognitive skills of analysis and synthesis

    ability to identify major issues relating to the EU

    ability to conduct individual study by drawing onprimary sources especially access to the Europawebsite of the European Commission

    abilityto discuss current policy issues, particularly as they affect the UK.

Programme Year Two

Year Two’s six compulsory modules build upon the first year modules in Economics and introduce students to International Business, which is a key area for anybody working in modern business. Students continue to pursue their specialist area of study by taking two optional modules in the area that they selected in their first year.

Year Two Compulsory Modules

  • Microeconomics 2 (ECON222)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting70:30
    Aims
  • This module, following on from with Microeconomics 1, aims to provide a solid foundation of intermediate level microeconomic theory. 

  • ​The module uses the theoretical foundations developed in the first semester and aims to extend the application of the skills acquired to more advanced topics such as welfare economics.

  • This module also aims to prepare students for the more advanced modules in the third year by introducing topics such as asymmetric information and game theory.

  • Learning OutcomesHave a thorough understanding of the core concepts and models used in Welfare Economics, Asymmetric Information, and Game Theory. 

    ​To prepare students to think and apply themselves to analyse a range of problems in the three areas mentioned above.

    ​To develop problem solving skills using verbal, diagrammatic and mathematical methods to problems in the above topics.  

    ​To deepen a critical perspective regarding the assumptions underlying microeconomics models.

  • Macroeconomics I (ECON223)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting60:40
    Aims

    To extend the study of macroeconomic theory to the intermediate level. To analyse the classical and Keynesian macroeconomic models, and their policy implications, in order to provide a context for subsequent developments in modern macroeconomics associated with monetarism, new classical and new Keynesian economics.

    Learning OutcomesUnderstand how employment, output, interest rate and the price level are determined in the classical model

    ​Understand the origin of economic growth in the short runand in the long run

    ​Understand the effects of fiscal and monetary policies in the IS-LM model

    ​Understand the effects of fiscal and monetary policiesunder different exchange-rate regimes

  • Management Economics 1 (ECON233)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting70:30
    Aims

    The module provides an introduction to the rational decision-making process used to make business decisions. It introduces the students to the quantitative and analytical tools that managers use to make complex decisions.

    Learning Outcomes

    Management Economics as a pluralistic disciplinewith particular emphasis on Demand Theory.

    Use of computer packages using Regressiontechniques, to estimate demand.

    Elementary forecasting techniques.

     

    Decision-making under risk and uncertainty

     

    Sequential decision-making

  • Management Economics 2 (ECON234)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    AimsThis moduleintroduces students to the economic approaches to the study oforganisations.  It also shows howeconomics can be applied to strategic management, mergers and acquisitions, andcorporate governance.

    Learning Outcomes Students will be able to understand how organisations achieve co-ordination;

    Students will be able to understand informational problems for markets and organisations

    Students will be able to understand goals and decision-making within the firm usingbehavioural theories;

    Students will be able to understand agency relations between owners, managers andemployees;

    Students will be able to understand the effects of transactions costs on choosing betweenmarkets and organisations and organisational forms;

      Students will be able to understand the contribution of economics to strategicmanagement, mergers and acquisitions, agency problems of corporate governance.

    ​Students will be able to understand the resource-based view of the firm.

  • International Management (MKIB253)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting60:40
    Aims

    This module aims to introduce students to key issues in international business and management from the perspective of the multinational enterprise.

    Learning OutcomesExplain trends in foreign investment and the growth of the multinational enterprise (MNE) in different home economies
    Analyse key issues in the governance and decision-making processes of MNEs

    Evaluate the major considerations to be taken into account in MNEs in determining investment decisons

    Evaluate the reasons for the success and failure of MNEs including an understanding of the problems that may arise between foreign MNEs and host governments

    Appreciate the importance of and analyse the inter-cultural issues that managers of MNEs face

  • Microeconomics for Business Economics (ECON227)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    Students should acquire the ability to reason about economic topics, and provide logical analysis of specific economic problems. Students will acquire the ability to demonstrate economic analysis of topics which start from  individual choices. Students will acquire specific knowledge regarding economic theory which will be useful when taking further courses in economic theory.
    Learning Outcomes

    ​Understand how to analyse individual consumption behaviour

    Understand the implications of profit maximization for firms.

    ​Combine the knowledge of consumption and production behaviour to provide a general equilibrium analysis of economic activities.

Year Two Optional Modules

  • Financial Reporting 1 (ACFI201)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims
  • To enable candidates to prepare single entity financial statements, and extracts from those financial statements,covering a wide range of International Financial Reporting Standards (IFRS)
  • ​Candidates will also be expected to explain accounting and reporting concepts and ethical issues, and the application of specified IFRS to specified single entity.

  • Learning Outcomesdraw up a set of financial statements which comply with the major provisions of IAS1 and other key International Accounting Standards;

    understand and apply key international accounting standard regulations with respect to presentation, disclosure, recognition and measurement for individual company financial statements​;

    ​assess the concepts underlying financial reporting through a knowledge of the IASBs Conceptual Framework.

  • Accounting Theory (ACFI202)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting70:30
    AimsThis module aims to increase students'' knowledge of the theory of accounting and its relevance to the study of accounting practice. The module develops knowledge of Year 1 accounting modules and complements the material covered in the second year module Financial Reporting. In addition some of the theoretical material covered in Accounting Theory will provide links to modules in Management Accounting.  More specifically, the aim of Accounting Theory is to examine the market for accounting information; processes and effects of regulating financial reporting; the incentives, which drive managers’ choices of alternative accounting policies; capital markets’ response to accounting information; explore the critical perspectives of accounting and consider selected issues in financial reporting.
    Learning Outcomes

    ​should possess knowledge of a range of theoretical models which are useful in understanding and explaining current accounting practices and regulation. 

    ​should be aware of the literature relating to theoretical models in accounting and be able to use theory to understand and evaluate the regulatory institutions of financial reporting in the UK and other countries

    should be able to understand the regulations applied to financial reporting in the UK and other countries

    ​should be to able understand the incentives driving managers in their choice of accounting policies within accounting regulations

    ​should be able to make links between financial reporting and other aspects of accounting.

    ​should be able to understand capital markets'' reaction to accounting information

    ​should be able to understand and explore the critical perspectives of accounting

  • Management Accounting (ACFI203)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    The aim of the module is to build on the basic management accounting methods seen in the first year through coverage of a range of further techniques that aid costing, decision-making, planning and control. Themes relating to the impact of internal accounting systems on managerial motivation and incentives will also be introduced.

    Learning Outcomes

    ​Analyse and evaluate information such that suitable recommendations to management may be made, showing an awareness of financial and non-financial factors.

    ​Demonstrate an awareness of the behavioural impact of management accounting systems in terms of motivation and incentives.

  • Financial Management (ACFI204)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    The module aims to introduce students to the modern theory of finance and financial management. Theoretical concepts like the net present value, decision making under uncertainty, portfolio selection and the capital asset pricing model are introduced. These concepts serve as prerequisites for investment and financing decisions which are exemplified by an analysis of valuation of firms, capital structure decisions and dividend policy. More specifically, the topics covered are the value and capital budgeting, portfolio theory, models of security valuation, efficient markets, long-term financing, company dividend decisions, capital structure, and interactions of investment and financing decisions. In all cases contemporary examples will be used to make theory come to life.

    Learning OutcomesFacilitate understanding of the main themes of modern financial management

      ​Equip students with the tools and techniques of financial management

      ​Enable students to interpret and critically examine financial management issues and controversies

      ​Provide the necessary knowledge to allow students to progress to studying Business Finance in the third year

  • International Finance (non-specialist) (ACFI260)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    This module aims to develop a good understanding of the fundamental principles of international finance, especially focusing on the financial management of multinationals. The groundwork for this is laid in the first few lectures, where the aim is to provide students with an introduction to the core principles of finance, valuation and financial decision-making, within the domestic setting. These are therafter extended to incorporated the international dimension - foreign exchange rates and markets, foreign exchange exposure.

    Learning Outcomes

     Identify the applications of fundamentals offinance in an international context

    Examine how the process of Globalization extends toa MNE and the implications for risk and returns of a business

    Explore the theory of competitive advantage tojustify international trade

    Evaluate the characteristics of an ideal currency

    ​Identifythe impact of the Balance of Payments in international foreign investmentdecisions

    ​Explorethe main approaches to exchange rate determination

    ​Develop a critical perspective on the choice ofexchange rate regimes

    Distinguish between the three major foreignexchange exposures experienced by firms

  • International Development (MKIB261)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting0:100
    Aims

    This module is concerned with the theoretical and practical implications of
    international development in the global economy. The module will enable an in-depth analysis of the central issues associated with the economics and policies of international development. The module also provides an insight into problems, challenges and recent trends in international development as well as identifies future directions.

    Learning OutcomesUnderstand in some depth alternative theoretical perspectives associated with international development;

      ​Describe and critically assess major economic and social issues that persist in
      developing world;

      ​Suggest remedies and define obstacles associated with international development;

      ​Critique remedies and policies using some of the contrasting viewpoints
      associated with development studies;

      ​Improve students'' citation and referencing skills;

      ​Show an awareness of the relationships between economic and policy concepts and actual policies;

      ​Critically assess the role of international trade strategy and regional trade blocks in the development process;

      ​Critically assess the international role of the Global Governance Institutions;

      ​Understand other issues central to international development

Programme Year Three

Final year students take two compulsory modules: Competition and Regulation, and Industrial Organisation. In addition, they must take at least two applied economics modules which will enable them to consider economic theory in relation to a range of relevant contemporary areas. The list of options currently available includes:

  • International Political Economy
  • International Trade
  • Economics of Developing Countries
  • Financial Economics
  • Health Economics

At least two modules must be selected from the business specialist pathway that has been followed since the first year. 

Year Three Compulsory Modules

  • Industrial Organisation (ECON333)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting50:50
    Aims

    To apply the tools of microeconomics to the analysis of firms, markets and industries in order to understand the nature and consequences of the process of competition. These tools will also be applied to the evaluation of relevant government policy.  This will extend knowledge and skills of microeconomic analysis by covering recent advances in theory as well as empirical analysis of relevant microeconomic topics.

    Learning OutcomesStudents will be able to use economic principles, concepts and techniques to discuss and analyse government policy and economic performance with reference to standard frameworks in Industrial Organisation.

    ​Students will be able to apply standard frameworks, including verbal, graphical, mathematical and statistical representations of economic concepts and models, to explain and evaluate the effects of a range of competitive behaviours by firms and how they are influenced by economic incentives.

    ​Students will be able to analyse current issues and problems in business and industry.

    ​Students will be able to compare, contrast and critically evaluate alternative schools of thought in Industrial Organisation with reference to empirical evidence.

    ​Students will be able to conduct competent applied economic research by locating, selecting and analysing information relevant to the study of Industrial Organisation.


  • ​Students will be able to communicate effectively in writing and in accordance with a report specification

  • Competition and Regulation (ECON337)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting60:40
    Aims

    To apply the tools of microeconomics to the analysis of firms, markets, consumers and regulators in order to understand the nature and consequences of the process of competition and regulation. These tools will also be applied to the evaluation of competition and government policy.  This will extend knowledge and skills of microeconomic analysis by covering recent advances in theory as well as empirical analysis of relevant microeconomic topics.

    Learning OutcomesUse economic principles, concepts and techniques to discuss and analyse:

      -          the power and limitations of competition as a force for market regulation;

      -          government policy to regulate market power to protect firms, consumers and employees.

      Apply standard frameworks, including verbal, graphical, mathematical and statistical representations of economic concepts and models, to explain and evaluate the effects of a range of behaviours by firms and regulators and how they are influenced by economic incentives.​

      ​Identify and analyse current issues and problems in regulation and propose solutions.

      ​Compare, contrast and critically evaluate regulation of different industries and market failures.

      ​Communicate effectively orally and in writing and in accordance with project specifications

      ​Conduct independent research in applied economics

      ​Deliver a professional quality formal presentation by exhibiting: clarity and appropriate pace; logical structure; credibility; effective use of visual aids/technology

      ​Identify problems

      ​Analyse problems

      ​Offer viable solutions

      ​Use economic principles, concepts and techniques to discuss and analyse government policy and economic performance.

    • Advanced Management Accounting (ACFI303)
      Level3
      Credit level15
      SemesterSecond Semester
      Exam:Coursework weighting70:30
      Aims

      The module aims to increase students'' knowledge of the theory and practice of management accounting and to build on study of this topic in earlier years, especially to extend and complement the material covered in the second year Management Accounting (ACFI 203). An important part of the module is reviewing of the various theoretical approaches which have been adopted or proposed for the development of management accounting and management decision-making.  Also, detailed materials on the practice of management accounting will be provided and explored in lectures and workshops.  The module thus presents management accounting in a broad context of organisational management and control.  The module is also based on the notion that the primary aim of a business organisation is to identify and pursue a successful long-term competitive strategy. Keeping in mind this notion the module explores the links between management accounting practices and business strategy.

      Learning Outcomes

      ·  Understand, analyse and evaluate issuesin theory and practice in management accounting;


      ​·    Examine the factors that influence thedesign of organisations and their management accounting control systems;

      ​·  Evaluate the different approaches toplanning and performance measurement;

      ​·     Identify the important behavioural,ethical and social responsibility issues associated with management accountingcontrol systems;

      ·        Critically evaluate ''traditional''management accounting controls and assess possible future developments.

    • Business Finance (ACFI304)
      Level3
      Credit level15
      SemesterFirst Semester
      Exam:Coursework weighting80:20
      Aims

      To provide students with a fundamental understanding of the core theoretical and empirical aspects involved in corporate finance. The courses aim at building transferrable skills of students by concentrating on the fundamental theoretical and empirical principles.

      Learning Outcomes

      Understand the principles of bonds and stocks valuation.


      ​Assessment of the term structure of interest rates

      ​Develop understanding of emperical and theoretical aspects of capital budgeting under uncertainty, market efficiency

      ​Understand portfolio theory, asset pricing models (CAPM,APT), and portfolio management.

      ​Develop understanding of issues involved in Capital Structure and Dividend policy .

      ​Understand the principles and practices involved in leasing, mergers and acquisitions

      ​Understand the functions and valuation principle of options, futures, warrants and convertibles.

    • Capital Markets (ACFI321)
      Level3
      Credit level15
      SemesterSecond Semester
      Exam:Coursework weighting70:30
      Aims

      Capital Markets provides a comprehensive introduction to the workings of modern financial systems, the efficiency of money markets and the role of investment bankers, illustrating how they impact our financial system. By drawing on numerous theoretical and practical examples from real-world case studies, this module aims at introducing the basic concepts of the banking, finance, investment, business studies, economics and financial service sector to the third year undergraduate students.

      Learning Outcomes

      Traditional capital markets might be described simply as the meeting place where providers and users of capital interact through the medium of money or its proxies.  Today’s capital markets in Europe and America continue with the above basic function and have become increasingly more sophisticated to serve the needs of an array of specialized investment  sources including private equity funds, hedge funds, sovereign wealth funds.  Meeting these specialized needs has entailed the rapid development of new financial products and resulted in highly-rewarding new roles for finance industry professionals.  To aid in the analysis and sale of these new products, computers handle vast databases of market data while accompanying analytics support decision-making in a financial world approaching information overload.  

      The course objective is to present the current capital markets with a blend of the theoretical with the practical.  Our examination will extend beyond the traditional financial products, equity and debt instruments, to recent innovations. Until the summer of 2007, capital markets had experienced spectacular growth via a proliferation of new products.  In keeping with classic economic theory, the investment rewards of products such as securitization were inevitably accompanied by risks as recent events brought to light.  New products like asset-backed securities and Electronic Traded Funds will be reviewed and identified by investor profile and investment rationale.  

      The context in which our course develops will be the dramatic events unfolding from mid-2007 to the present.  The conceptual bases and investment metrics employed by market participants will be examined in depth.  Theories of risk v. return and those for interest rates will be reviewed.  Data sources, key market indexes and investment performance measures will be identified.  The common analytical techniques will be discussed along with the role of equity analysts and also that of major credit rating agencies. 

    • Corporate Governance (ACFI320)
      Level3
      Credit level15
      SemesterSecond Semester
      Exam:Coursework weighting50:50
      Aims
    • The module aims to provide students with an understanding of the history and development of corporate governance and the key principles and systems that underpin corporate governance today.

    • ​It also provides the opportunity to assess the practical application of corporate governance systems across major international organisations.

    • Learning Outcomes

      ​understand the key principles within corporate governance frameworks, with specific reference to the UK Corporate Governance Code;

      ​be able to critically analyse and discuss the corporate governance arrangements for several types of organisation.

    • Corporate Reporting and Analysis (ACFI302)
      Level3
      Credit level15
      SemesterSecond Semester
      Exam:Coursework weighting70:30
      Aims
    • This module aims to develop students understanding of financial reporting to an advanced level by building upon the knowledge and skills gained in earlier financial reporting modules.  Complex IFRS on topics such as share based payments and deferred tax will be looked at.

    • ​This module also aims to develop students consolidated accounting skills by looking at complex business combinations.

    • ​This module also aims to develop an understanding of financial statement analysis using financial reporting and business strategy skills developed in this and earlier modules.

    • This module aims to give students an appreciation of the ethical and professional issues an accountant may face in practice and develop an understanding of how to deal with those issues.​

    • Learning Outcomes​Students will be able to prepare and evaluate single company financial statements, or extracts thereof, in accordance with IFRS for complex transactions. Students will be able to account for complex business combinations in accordance with International Accounting Standards.Students will be able to analyse and interpret financial statements and other financial information and draw appropriate conclusions.

      ​Students will learn to appraise ethical, CSR and professional issues for an accountant undertaking work in corporate reporting and recommend courses of action.

    • Derivative Securities (ACFI310)
      Level3
      Credit level15
      SemesterSecond Semester
      Exam:Coursework weighting100:0
      Aims

      This courseprovides an introduction to derivative securities.  Alternative derivative securities likeForwards, Futures, Options, and Exotic Derivative Contracts will bediscussed.  This incorporates detailingthe properties of these securities. Furthermore, a key aim is to outline how these assets are valued.  Also the course demonstrates the use ofderivatives in arbitrage, hedging and speculation. Finally, practicalapplications of derivatives and potential pitfalls are discussed.

       

      The class is runas a discussion based forum and students are expected to read all necessarymaterials prior to each session.

       

      Learning Outcomes

       Describe the principles of option pricing.

      Compare and contrast alternative fair valuation techniques for pricing derivative instruments.

      ​Explain the biases in option pricing models.

      ​Apply an appropriate pricing model to a variety of contingent claim securities.

      Recognize the trading strategy appropriate to expected future market conditions.

      Derive and apply evolving models of derivative options to effectively manage risk transfer and assess their behaviour in the face of volatile financial and economic conditions.

    • Financial Reporting 2 (ACFI309)
      Level3
      Credit level15
      SemesterFirst Semester
      Exam:Coursework weighting100:0
      Aims

      This module is designed to build upon the knowledge and skills gained in earlier financial reporting modules by covering the preparation of group financial statements including associates and joint ventures.  It will also develop an understanding of group accounting principles and issues arising from group accounting including fair values, intangibles and impairment.

      The module also addresses other key accounting standards including those relating to leases, borrowing costs and related parties.

      The module should enable students to prepare complete single entity and consolidated financial statements, and extracts from those financial statements, covering a wide range of International Financial Reporting Standards (IFRS)

      Students will also be required to explain accounting and reporting concepts and ethical issues, and the application of IFRS to specified single entity or group scenarios

      Learning Outcomesexplain the contribution and inherent limitations of financial statements, apply the International Accounting Standards Board’s (IASB) conceptual framework for financial reporting and identify and explain key ethical issues


            

      ​prepare and present financial statements from accounting data for single entities, whether organised in corporate or in other forms, in conformity with IFRS and explain the application of IFRS to specified single entity scenarios

      ​identify the circumstances in which entities are required to present consolidated financial statements, prepare and present them in conformity with IFRS and explain the application of IFRS to specified group scenarios.

    • Financial Risk Management (ACFI342)
      Level3
      Credit level15
      SemesterSecond Semester
      Exam:Coursework weighting100:0
      Aims

      The module builds on the foundations of the existing finance modules and aims to give students a solid grounding in terms of understanding the recent global financial crisis and a wide range of risk management tools available to financial managers. Particular emphasis is placed on the issue of risk measurement. The following types of risk will be analysed extensively:
      1. Interest rate risk
      2. Market risk
      3. Credit risk
      4. Liquidity risk
      5. Capital adequacy
      6. Sovereign risk

      The class is run as a discussion based forum.

      Learning Outcomes

      ​Students will be able to understand how risk management contributes to value creation

      ​​Students will be able to understand how the global market for credit operates

      ​Students will be able to explain the causes of the recent global credit crisis

      ​Students will be able to overview the risks facing a modern corporation

      ​Students will be able to analyse the effects of interest rate volatility on risk exposure

      ​Students will be able to examine market risk, which results when companies actively trade bonds, equities and other securities

      ​Students will be able to examine how credit risk adversely impacts a financial institution’s profits

      ​Students will be able to analyse the problems created by liquidity risk

      ​Students will be able to become familiar with the concept of capital adequacy and also with the Basel Accords

      ​Students will be able to examine several aspects of sovereign lending and the underlying risks

    • Football Financial Reporting, Analysis and Valuation (ACFI322)
      Level3
      Credit level15
      SemesterSecond Semester
      Exam:Coursework weighting50:50
      Aims

      ​This module aims to give students to develop an understanding of how financial transactions have an impact on football clubs, and the integration of finance into the success or otherwise of clubs.

      The module will attract students with an interest in the sport and provide them with an insight into how financial metrics in relation to clubs can be produced, and the valuation techniques used by investors when buying and selling clubs.

      Learning Outcomes

      Students will be able to explain the contribution and inherent limitations of financial statements, apply the International Accounting Standards Board''s (IASB) conceptual framework for financial reporting in relation to incorporated football clubs.

      Students will be able to prepare and present financial statements from business transactions for football clubs in corporate forms, in conformity with International Financial Reporting Standards (IFRS) and explain the application of IFRS to specified scenarios.

      Students will be able to measure the value of a football club using appropriate valuation methods.

      ​Students will be able to understand and apply football financial fair play rules, and the ethical responsibilities of clubs in adhering to these rules. 

    • Business in Emerging Markets (MKIB369)
      Level3
      Credit level15
      SemesterSecond Semester
      Exam:Coursework weighting0:100
      Aims

      This is an optional module focusing on the business environment in emerging markets and specifically in the BRIC countries, Brazil, Russia, India and China. In 2001, Jim O''Neill of Goldman-Sachs predicted that globalization would help Brazil, Russia, India and China (the BRICs), large countries endowed with raw materials but with difficult macro-contexts to develop rapidly and overtake the largest Western economies.

      The aims of this module are to evaluate the extent to which the above prediction has come to pass and to explore the business and political uncertainty which has come with this period of rapid economic development.

      The module aims to provide an insight into whether or not the BRICs can sustain their growth, what the implications of this growth are, and which nations might follow. MNEs based in the BRIC countries will also be discussed.

      Learning OutcomesTounderstand the reasons for rapid emergence of BRIC countries

      ​Tobe able to identify criteria which determine for rapid growth of emergingmarkets

      ​Tounderstand who are the key stakeholders in emerging markets and how theyinteract with each others

      ​Toexplore potential tradeoffs between rapid economic growth and social and otherdimensions of the markets

      ​Toexamine other potential emerging markets to identify those which are mostlikely to grow rapidly

      ​Tounderstand in detail the dynamics in specific markets such as China, India,Brazil and Russia

      ​Tounderstand the importance of development of brands by BRIC countries

      ​To understand the BRIC thesis and arrive atconclusions about whether this has been met and will continue in future

    • Business in Latin America (MKIB359)
      Level3
      Credit level15
      SemesterSecond Semester
      Exam:Coursework weighting75:25
      Aims

      This module is designed to enable students to undertake an empirical study of the activities and organisation of domestic and foreign business in a significant area of the developing world. Students are expected to build upon the knowledge and techniques developed in earlier modules to understand and analyse critically the behaviour of companies, investors, regulators, employees and consumers in the Latin American economies.

      Learning OutcomesTo develop students'' knowledge and understanding of contemporary Latin American businesses.

        ​To develop students'' appreciation of the problems and opportunities facing companies in the Latin American environment and their responses.

        ​To develop students'' ability to synthesise quantitative and qualitative information and opinion from a range of sources.

        ​To develop students'' abilities of critical analysis.

        ​To develop report writing skills.

        ​To develop the student''s capacity to join groups and engage in group work.

    • Business in the Asia-pacific Region (MKIB338)
      Level3
      Credit level15
      SemesterSecond Semester
      Exam:Coursework weighting60:40
      Aims

      This module aims to familiarise students with the unique and contrasting business environment in the Asia Pacific region and to use concepts and theories from the international business/management literature to evaluate and explain this environment

      Learning OutcomesAppreciate and identify the consequences of national differences in the business and management systems of the Asia Pacific region.

      Analyse and synthesise critical debates in the development of the Asia Pacific economies.​

      ​Evaluate the principal economic, political and social trends in the region and their consequence for the conduct of business.

      Appraise the strategic issues involved in entering Asia Pacific markets.​

      Conduct a comparative analysis of different countries and businesses within the Asia Pacific region. ​

    • Events Management (MKIB367)
      Level3
      Credit level15
      SemesterFirst Semester
      Exam:Coursework weighting50:50
      Aims

      The module provides students with a critical understanding of events management.

      Learning OutcomesStudents will develop knowledge and critical understanding of the nature, structure, composition and management of the events industry sector

        ​Students will develop their skills in the selection, organisation, analysis and critical evaluation of events.

        ​Students will be able to review and provide a critical analysis of event planning models

        ​Students will enhance their understanding of marketing; management theories, human resources; financial management, planning and law, through the context of events’ management

        ​In addition to subject-specific knowledge, students will develop the practical skills necessary to organise events, drawing on relevant academic theory.

    • Global Strategic Management (MKIB351)
      Level3
      Credit level15
      SemesterFirst Semester
      Exam:Coursework weighting70:30
      Aims

      The module aims:

      • to provide conceptual frameworks within which to formulate and analyse global strategy;
      • ​to provide practical experience of formulating strategy;
      • ​to analyse theory and evidence regarding the configuration and governance of international operations;
      • to analyse conceptual frameworks within which to frame ethical conduct in international business.
      Learning OutcomesStudents will be able to explain resource-based and institutional approaches to international strategy

      ​Students will be able to explain generic forms of growth and diversification

      ​Students will be able to explain the principal forms of internal organisation and governance of multinational enterprises


    • ​Students will be able to explain the main forms of international entry and growth and when each is likely to be the preferred approach

      Students will be able to explain how the nature of global production, logistics and distribution have changed and why and how firms can evaluate their preferred configuration ​

      ​Students will be able to explain how competition evolves in international business and how multinational enterprises can maintain and upgrade their competitive strengths


    • ​Students will be able to explain the nature and form of strategic alliances and when these will be preferred to international mergers and acquisitions

      ​ Students will be able to explain the key ethical issues facing international businesses and apply appropriate frameworks for framing ethical behaviour.

    • International Economic Relations (ECON354)
      Level3
      Credit level15
      SemesterFirst Semester
      Exam:Coursework weighting70:30
      Aims

      The aim of this module is to provide a detailed coverage of the nature and determinants of the pattern of world trade and financial, capital and labour flows.  The module also aims to provide students with a critical appreciation of why conflicts arise between nations due to international economic activity and what policy options are most appropriate for countries both individually and cooperatively to adopt.  Throughout the module emphasis will be placed upon the role of theory in enhancing understanding of the patterns and nature of trade flows (in the context of both goods and services) in the context of the key issues in international economic relations.

      Learning OutcomesStudents will be able to explain why countries gain from trade and what pattern of trade flows exist using classic trade theories.Students will be able to explain why countries engage in trade protection, as well as predict and analyze the consequences that arise in case such protection is applied

      ​Students will be able to explain how key flows of goods, services, money and physical capital are valued.  They will be able to use real and nominal exchange rates, understand, explain and apply the concept of PPP.

      Students will be able to explain the reasons why trade blocs are formed and analyze and explain their costs and benefits.  They will also be able to distinguish between trade blocs among countries of similar as well as different development levels.  ​

      ​Students will be able to explain why conflicts arise in the areas of labour migration and environmental pollution and suggest policy responses which may be used to correct such problems

      ​Students will be able to explain the causes and consequences of financial crises and how financial contagion can spread from one country to another

      ​Students will be able to explain the links between trade and capital flows and economic development using examples of the Latin American and East Asian countries

    • International Marketing (MKIB356)
      Level3
      Credit level15
      SemesterFirst Semester
      Exam:Coursework weighting70:30
      Aims
    • To introduce students to the international environment for marketing

    • ​To build an appreciation of how they might go about buildinginternational activities

    • To introduce students to the concept of globalmarketing management;

    • ​To develop an understanding of the key types of international transitions

    • Learning OutcomesStudents will be able to identify the major changes in the international trading environment and their impact on the marketing activities of global businesses.

      ​Students will be able to develop marketing strategies appropriate to industrialised, developing and lesser developed economies, and identify and explain the relevant sources of information and analysis necessary to support the appropriate strategy.

      ​Students will be able to critically evaluate the mix decisions that need to be taken to support global marketing activity.

    • The Football Business (ULMS370)
      Level3
      Credit level15
      SemesterSecond Semester
      Exam:Coursework weighting75:25
      Aims
    • ​​to enhance students’ understanding and knowledge of the key issues surrounding the contemporary football business and associated industries;
    • to encourage students to apply their knowledge of economics, business and management to the football industry.

    • Learning Outcomes

      Students will develop their knowledge and understanding of the key issues surrounding the contemporary football business and associated industries;

      Students will demonstrate an ability to apply business and management concepts to the football industry;

      Students will develop their abilities to analyse critically, synthesise ideas and write reports and opinions.

    Year Three Optional Modules

    • The Economics of Developing Countries (ECON306)
      Level3
      Credit level15
      SemesterSecond Semester
      Exam:Coursework weighting100:0
      Aims

      This module aims to introduce students to the theoretical perspectives andempirical debates within development economics and impart an in-depthappreciation of the issues related to economic development and its determinantsin less developed countries.

      Learning OutcomesTo understand the nature and determinants of economic development in the LDCs;

        To recognise both the strengths andlimitations of various alternative models of the development process

        To understand the determinants ofeconomic welfare in LDCs

        ​To recognise the implications fordeveloping countries of international exchange, trade liberalisation andglobalisation

        To appreciate the relationships betweenglobalisation and economic performance in low and middle income economies

        To critically evaluate the roles,achievements and failures of various international policy initiatives in thecontext of developing country measured economic performance and domesticeconomic welfare.

      • Game Theoretical Approaches to Microeconomics (ECON322)
        Level3
        Credit level15
        SemesterFirst Semester
        Exam:Coursework weighting75:25
        Aims

        The objective of the module is to provide an introduction to game theory. This is the study of strategic interactions ie situations where outcomes depend not only on our own actions but also how others react to our actions. This module complements those in core macro and microeconomics and offers more insight into strategic decisions and competetive behaviour in general.

        Learning Outcomes

        ​Explain game theoretical concepts

        Conduct advanced microeconomic analysis by formulating a game and its associated solution concepts and deriving solutions to games​

        ​Apply games in a range of economic, business and social contexts

        ​Explain the importance of game theoretic approaches in economic analysis

      • International Political Economy (ECON325)
        Level3
        Credit level15
        SemesterFirst Semester
        Exam:Coursework weighting50:50
        AimsThis module aims to familiarise students with rational choice and public choice theories and arguments, and with their applications in open economies and international political economy; theoretical concepts such as the Coase theorem, the Arrow impossibility theorem, and economic populism; key concepts of the New Institutional Economics and related applications to the theory of the firm; a modern economics’ view of globalisation; and the application of international political economy concepts to Latin America.

        The module also aims to deepen students'' understanding and awareness of the meaning and importance of national cultures, the relationship between rent seeking and protectionism; corruption; essential aspects of multinational corporations, foreign direct investment, and regulation; specific characteristics of the Argentine and Mexican economic policies and institutions and Chilean ‘exceptionalism’; and the possibility of applying ideas developed in this module to other geographical, national, regional and historical contexts.




        Learning OutcomesStudents will understand the concepts of rational choice and public choice in order to study aspects of a globalised world, which is in key respects different from that of elementary textbook models


        ​Students will gain a deep understanding of international business and the international political economy, in a way compatible with rigorous approaches to economic analysis

        ​Students will become familiar with theoretical concepts from rational choice and public choice theories, with emphasis on theories and models which apply to open economies in a context of globalisation

        ​Students will be able to apply these theoretical concepts in order to study some aspects of the political economy of international business.

        ​Students will be able to apply theoretical concepts to a Latin American case study.

        ​Students will be able to produce and deliver a coherent presentation.

      • Health Economics (ECON326)
        Level3
        Credit level15
        SemesterSecond Semester
        Exam:Coursework weighting80:20
        Aims

        The aim of this module is to introduce third year economics students to the basic principles and tools of health economics. The module aims to show how the health care system differs from the economic textbook model of perfectly competitive markets. It will offer an overview of the issues of demand and supply for health care, supplier-induced demand, equity and inequality, health care financing and health insurance. It will emphasize the use of economic evaluation for assessing health care interventions as a way of making informed decisions in terms of costs and benefits.

        Learning OutcomesStudents will be able to recognize the main characteristics and important questions addressed in the health care market

        ​Students will be able to understand the main characteristics and differences of the type of studies used in economic evaluation

        ​Students will be able to examine economic evaluation papers and be able to identify and assess the main strengths and weaknesses of published studies

        ​Students will be able to understand the theoretical foundations of health economics

        ​Students will be able to understand the role of health economics in Health Technology Assessment

        ​Students will be able to assess the value of health economics in informing resource allocation decisions in both advanced and resource poor settings

      • International Trade (ECON335)
        Level3
        Credit level15
        SemesterFirst Semester
        Exam:Coursework weighting85:15
        Aims

        To develop an appreciation and understanding of basic principles determining the observed patterns of trade in the increasingly globalised world economy.

        Learning Outcomes

        After successful completion of this module, students will be able to:

        understand the role of both absolute and comparative advantage in explaining observed patterns of trade in the global economy

        ​recognise both the strengths and limitations of the basic Ricardian approach

        ​understand the determinants of the terms of trade, in both theory and practice

        ​recognise the implications of the observed behaviour of the terms of trade for both developed and less developed economies

        appreciate the relationships between globalisation, economic performance ​

        critically evaluate the roles, achievements and failures of various international institutions in the context of international economic performance ​

      • Law and Economics (ECON360)
        Level3
        Credit level15
        SemesterFirst Semester
        Exam:Coursework weighting60:40
        Aims

        This course does not require prior knowledge of the law, nor is itsobjective to teach students about the law. The main objective is to showstudents how they can apply the tools of economic analysis to understand thebasic structure and function of the law. The course focuses on the core commonlaw areas of torts, contracts, and property, along with a discussion of thelitigation process, the economics of crime, and antitrust law

        Learning Outcomes

        Students will be able to understand the use of economics to analyse the law

        ​Students will be able to understand the importance of the law in economics

        ​Students will be able to understand the use of model in law and economics

        ​Students will be able to develop the ability to do a positive analysis of liability rules

      • Economics of Arts and Cultural Industries (ECON362)
        Level3
        Credit level15
        SemesterFirst Semester
        Exam:Coursework weighting50:50
        Aims
      • To provide an historical and methodological basis for understanding the economics of Arts & Cultural industries.
      • ​To explore the application of economic theory in ‘non-standard’ markets, i.e. markets where neoclassical microeconomic assumptions may not hold.

      • ​To microeconomically analyze major creative industries sectors such as fine arts, music, publishing, broadcasting, cinema & arts festivals

      • Learning OutcomesDemonstrate a knowledge of and theoretical basis for the economic characteristics of the Arts & Cultural sector;

          Demonstrate a knowledge of the history and context within whichdifferent strands of economic thought developed;

          ​ Demonstrate a knowledge of the philosophical basis for methodology andevaluate different methodological approaches within the discipline;

          ​Demonstrate a knowledge of the size, make-up and economic importance ofthe Arts & Cultural sector in the UK and the world;

          ​Demonstrate a knowledge of how economic theories are extended beyondtheir neo-classical assumptions.

          Skills of independent research, thinking and writing developed throughcoursework;

          ​Essaywriting skills developed through coursework

      • Tourism (MKIB337)
        Level3
        Credit level15
        SemesterFirst Semester
        Exam:Coursework weighting70:30
        Aims

        The aim of this module is to provide a coherent framework through which the structure, management and organisation of the Tourism Industry can be understood and the nature of tourism demand explained. The study of tourism depends on and draws from a wide range of disciplines. Consideration of tourism consumer behaviour involves elements of sociology and psychology, whilst concerns for the impacts of tourism cannot be fully understood without reference to economics, geography and planning. Consequently a multi-disciplinary approach will be adopted and the inter-relationships explored.

        Learning Outcomes

        ​Understand factors influencing the tourist experience

        ​Understand the structure, management and organisation of the Tourism Industry

        ​Understand the role of tourism in the economic development of a country

        ​Appraise the practical implications of the wider impacts of tourism including, environmental, social and cultural impacts

        ​Identify a range of issues, current and future, facing the Tourism Industry

      • Psychological Approaches to Decision-making (ULMS351)
        Level3
        Credit level15
        SemesterFirst Semester
        Exam:Coursework weighting60:40
        Aims

        This module aims to provide students with the concepts and theories relevant to the cognitive and emotional aspects of decision-making at the individual, group and organizational levels. Particular attention is paid to the problems and potential pitfalls of making decisions amidst uncertainty and conflict including potential pressure to act in an ethically questionable manner. The module also considers negotiated decisions and cognitive techniques for stimulating creativity, innovation and problem-solving.

        Learning OutcomesStudents will be able to demonstrate an awareness of the main terms used within the psychology of decision-making

        Students will be able to demonstrate an understanding of the major cognitive, social and emotional processes that influence the nature of individual, group and organizational decision-making.

        ​Students will be able to demonstrate ability to deal with conflicting evidence and ''data'' within decision-making contexts and to recognise the limitations of ''evidence'' used with the decision.

        Students will be able to demonstrate understanding of the manner in which social and environmental factors can inform and shape the process of decision-making through team-work and group discussion.  

        Students will be able to work with others in problem-solving and negotiating teams and to reflect upon the major psycho-social processes involved in that activity.

      • Critical Perspectives in Management (ULMS366)
        Level3
        Credit level15
        SemesterSecond Semester
        Exam:Coursework weighting40:60
        Aims

        A primary aim of the module is to invite students to consider the consequences of traditional orthodox management theory and practice for people in organizations (including managers) and society at large, and to examine the extent to which critical theory can inform more humanist approaches to management thinking. It aims in particular:
        • To provide students with a sound understanding of a variety of critical
        perspectives on management, and their relation to society
        • Provide students with the theoretical tools necessary for the critical analysis of the process of management from sociological and philosophical perspectives
        • To explore the extent to which critical theory can contribute to the
        development of progressive, alternative and future-oriented management thinking.
        • To support the enhancement of skills in critical analysis, critical reflection, and written and spoken communication.

        Learning OutcomesA critical understanding of the theories, concepts and empirical work that
        constitute the field of critical management studies

        ​A critical awareness of the multi-disciplinary aspects of management and the
        ability to critically analyse the activities of contemporary organizations

        ​The ability to develop critical questions about organizations and the tools to
        carry out appropriate critical inquiry to pursue their resolution.

        The ability to evaluate corporate activities with regard to their potential
        consequences for issues that are important from critical perspectives (such as
        equality, control, exploitation, and resistance)​

        ​The ability to craft and communicate arguments from different critical
        perspectives

        ​The ability to critically reflect on their own learning and envisage their future
        management practice critically

      • Behavioural Finance (ACFI311)
        Level3
        Credit level15
        SemesterSecond Semester
        Exam:Coursework weighting100:0
        Aims
      • Provide students with knowledge and understanding of theoretical and empirical limitations of and challenges to the efficient markets hypothesis
        • ​Present the psychological foundations of Behavioural Finance and how they impact upon investors’ rationality and arbitrage

        • ​Provide the opportunity for students to critically evaluate behaviourally induced market puzzles

        • ​Present key behavioural trading patterns from a theoretical perspective and outline their empirical design

      • Learning Outcomes

        ​Possess a good command of the key theoretical and empirical literature in behavioural finance

        ​Have practiced skills of problem-solving and critical thinking

        ​Be familiar with the main implications (theoretical and empirical) of Behavioural Finance findings

        ​Construct and present critical evaluations of key academic papers in Behavioural Finance

        Development of key skills in terms of writtencommunication (e.g. by completing formative class questions and assignment;through a summative assignment and examination)​

        Developmentof key skills in oral presentation (e.g. through group work)

        ​Development of key skills in terms of classparticipation

        ​Development of key skills in terms of planning &time-management (e.g. preparing for classes; observing assignment deadlines),problem-solving, critical thinking & analysis, numeracy (e.g. by applyingtheir extant quantitative knowledge in understanding behavioural financeissues) and initiative (e.g. searching relevant literature and information inpreparation of seminars and summative assignment)

      • Finance and Markets (ACFI341)
        Level3
        Credit level15
        SemesterSecond Semester
        Exam:Coursework weighting100:0
        Aims

        The module builds onthe foundations of the existing finance modules and aims to give students asolid grounding in terms of understanding the recent global financial crisisand a wide range of risk management tools available to financial managers.Particular emphasis is placed on the issue of risk measurement. The followingtypes of risk will be analysed extensively

         

        (i)             interestrate risk

        (ii)           marketrisk

        (iii)          creditrisk

        (iv)          liquidityrisk

        (v)           capitaladequacy and

        (vi)          sovereignrisk

         

        The class is run as a discussion based forum and you are expected toread all necessary materials prior to each session

        Learning OutcomesStudents will be able to understand how risk management contributes to value creation

        ​Students will be able to understand how the global market for credit operates

        ​Students will be able to explain the causes of the recent global credit crisis

        ​Students will be able to develop an overview the risks facing a modern corporation

        ​Students will be able to analyse the effects of interest rate volatility on risk exposure

        ​Students will be able to examine market risk, which results when companies actively trade bonds, equities and other securities

        ​Students will be able to examine how credit risk adversely impacts a financial institution’s profits

        ​Students will be able to analyse the problems created by liquidity risk

        ​Students will be able to become familiar with the concept of capital adequacy and also with the Basel Accords

        Students will be able to examine several aspects of sovereign lending and the underlying risks

      • Financial Crises and Defaults (ECON309)
        Level3
        Credit level15
        SemesterFirst Semester
        Exam:Coursework weighting100:0
        Aims

        This module aims to provide students with afundamental understanding of the core theoretical and empirical aspectsinvolved in financial crises and defaults. In particular, the aims are thatstudents will be able to:

        1. Become familiar with a rangeof mathematical techniques commonly employed in finance with particularemphasis on sovereign debt valuation.

        2. Develop an understanding ofthe main factors behind financial crises and sovereign defaults.

        3. Become familiar with a range of econometric techniques andmodels commonly used in order to assess whether asset prices become mispriced(that is, overvalued or undervalued) prior, during and after financial crises.

        4. Become aware that all econometric models, which are dependenton a set of underlying assumptions such as a linear versus a non-linearspecification or the conditioning information set (in terms of defining theso-called ‘control’ variables), have limitations in the sense that the answerto a particular problem might change once the underlying assumptions change.

        Learning Outcomes

        ​Students will be able to understand the principles of sovereign debt evaluation.

        ​Students will be able to understand how credit-rating agencies assign credit-rating scores to sovereign bonds.

        ​Students will be able to ​develop a deep understanding of the main economic and financial factors that trigger financial crises and sovereign defaults.

        ​Students will be able to develop the ability to analyse and evaluate economic data in order to empirically assess (using econmetric software EVIEWS) whether excessive debt levels impact negatively on economic growth.

        ​Students will be able to develop the ability to analyse and evaluate economic and financial data in order to empirically assess (using the econometric software EVIEWS) whether asset prices are mispriced prior, during and after financial crises.

      • Issues in Development Finance (ECON307)
        Level3
        Credit level15
        SemesterFirst Semester
        Exam:Coursework weighting100:0
        Aims

        ​This module will provide an advanced, albeit non-technical, critical understanding for students with a variety of academic backgrounds of the issues and developments in the area of finance for development.  This will include, for example, the impact of overseas development assistance (foreign aid) and foreign direct investment upon development, the role played by the IMF and World Bank and recent developments in the areas of microfinance and Islamic Finance.

        Learning Outcomes

        Students will be able to understand the fundamental principles andconcepts of finance and their application and relevance in the context ofdevelopment and development finance​.

        ​Students will be able to develop a deeper understanding of the financial problems and constraints faced by countries embarking on economic development.

        ​Students will be able to evaluate the impact of different sources of finance such as foreign aid, FDI and microfinance.

      The programme detail and modules listed are illustrative only and subject to change.


      Teaching and Learning

      The principal forms of teaching are lectures and seminars. Lectures will normally be supported by material such as hand-outs and computer based presentations. Seminars give the opportunity for detailed discussion of a topic under the direction of a tutor.

      You are normally expected to prepare work in advance for seminars and may be expected to present work or give presentations from time to time. On some modules, such as quantitative techniques and IT, seminars may take the form of practical sessions using computers.

      All our degrees depend on you spending a good part of the week in private or group study in preparation for lectures and seminars. This involves making extensive use of the excellent library and IT facilities, just one minute’s walk away from the Management School.


      Assessment

      You will be assessed through a combination of coursework and examinations. The exact weighting will vary from one module to another. As well as individual assignments and exams, you may also be assessed on group reports and presentations.