Finance BSc (Hons)

Key information


  • Course length: 3 years
  • UCAS code: N301
  • Year of entry: 2020
  • Typical offer: A-level : AAB (including Mathematics) / IB : 35 with no score less than 4 / BTEC : D*D*D

Module details

Programme Year One

In your first year, you will take eight compulsory modules in mathematics, statistics, economics and accounting that will provide strong foundations for the subsequent years of study. One of the modules will introduce you to the skills required by a finance professional as part of the preparation for their post-graduation careers.

Year One Compulsory Modules

  • Introduction to Finance (ACFI103)
    Level1
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    This module 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

    (LO1) Understand the goals and governance of the firm, how financial markets work and appreciate the importance of finance.

    (LO2) Understand the time value of money.

    (LO3) Understand the determinants of bond yields.

    (LO4) Recognize how stock prices depend on future dividends and value stock prices.

    (LO5) Understand net present value rule and other criteria used to make investment decisions.

    (LO6) Understand risk, return and the opportunity cost of capital.

    (LO7) Understand the risk-return tradeoff, and know the various ways in which capital can be raised and determine a firm's overall cost of capital.

    (LO8) Know different types of options, and understand how options are priced.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Teamwork

    (S5) Organisational skills

    (S6) Communication skills

    (S7) IT skills

    (S8) International awareness

    (S9) Lifelong learning skills

    (S10) Ethical awareness

  • Introduction to Financial Accounting (ACFI101)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting15:85
    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

    (LO1) Prepare basic financial statements

    (LO2) Explain the context and purpose of financial reporting

    (LO3) Demonstrate the use of double entry and accounting systems

    (LO4) Record transactions and events

    (LO5) Prepare a trial balance

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Organisational skills

    (S5) Communication skills

  • 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

    (LO1) Apply a range of basic techniques to produce information that aids management in planning, control and decision making;

    (LO2) Understand, interpret and analyse management accounting information, and demonstrate an awareness of the importance of non-financial factors;

    (LO3) Evaluate the usefulness of various techniques in different situations and for different purposes.

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Numeracy

    (S4) Commercial awareness

    (S5) Organisational skills

    (S6) Communication skills

    (S7) IT skills

    (S8) Lifelong learning skills

  • Mathematical Economics (ECON113)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    The aims are: - to prepare students for the more advanced Year 2 Mathematical Economics II option, which is a prerequisite for certain Year 3 modules. - to prepare students for the econometrics sequence starting in Year 2. - to develop mathematical maturity and problem solving skills.

    Learning Outcomes

    (LO1) An understanding of key techniques of proof

    (LO2) An understanding of comparative statics and calculus methods including integration, multivariate optimisation and constrained optimisation

    (LO3) An ability to solve economic problems using the mathematical techniques introduced during lecture hours.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Lifelong learning skills

    (S4) Adaptability

  • 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

    (LO1) Explain the relationship between expenditures and national income and demonstrate how monetary and fiscal policies may be used to influence them

    (LO2) Explain the behaviour of economic aggregates such as national income, inflation and unemployment over time

    (LO3) Explain and assess government policy in a range of policy situations

    (LO4) Explain the framework of national income accounting

    (LO5) Use graphical and algebraic modelling to analyse the economy and economic policy

    (LO6) Explain the interconnections between the markets for goods, money and labour

    (LO7) Explain the principal influences on long-term growth and the short-run fluctuation in output around the long-run growth trend

    (LO8) Locate, select and analyse information relevant to assessing the state of the economy and economic policy

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Teamwork

    (S5) Organisational skills

    (S6) Communication skills

    (S7) International awareness

    (S8) Lifelong learning skills

    (S9) Ethical awareness

  • 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

    (LO1) Students will have the ability to understand, explain, analyse and solve core problems in microeconomics.

    (LO2) Students will be able to practice and develop their mathematical techniques and understand the role of mathematical analysis in microeconomics.

    (LO3) 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.

    (LO4) Students will be able to apply their understanding of economic decision-making, optimisation and equilibrium to real world situations.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Communication skills

    (S4) IT skills

  • Skills for the Finance Professional (ECON118)
    Level1
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting0:100
    Aims

    The aims of this module are to provide the students with the ability to develop team work, individual presentation and group presentation skills.
    Students will also be given an opportunity to develop an awareness of themselves as finance professionals, to reflect on their professional development in terms of strengths and weaknesses and to develop key employability skills aligned with employer expectations.

    Learning Outcomes

    (LO1) Students will demonstrate effective oral and written communication skills appropriateto a role in finance

    (LO2) Students will gain experience in working with others and in developing effective relationships

    (LO3) Students will build confidence in being able to present to an audience.

    (LO4) Students will develop an awareness of digital capabilities, scientific programming skills, data sources and databases relevant to a role in finance

    (LO5) Students will critically reflect on and evaluate their skills in relation to prospective employers’ requirements and identify their development needs

    (LO6) Students will produce an employability portfolio

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Commercial awareness

    (S4) Teamwork

    (S5) Organisational skills

    (S6) Communication skills

    (S7) Lifelong learning skills

    (S8) Ethical awareness

  • 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 Outcomes

    (LO1) The basis of data analysis

    (LO2) The fundamental notion of statistical inference

    (LO3) Summarise,describe and present raw data

    (LO4) Estimate the mean of a population (and other statistics)

    (LO5) How to formulate and test hypotheses about values in the population based on random samples

    (LO6) How to carry out basic statistical computations and graphical analysis

    (LO7) How to identify and model relationships between two variables

    (LO8) Understand the use of probability in statistics

    (LO9) Communicating results

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Numeracy

    (S4) Commercial awareness

    (S5) Organisational skills

    (S6) Communication skills

    (S7) International awareness

    (S8) Lifelong learning skills

Programme Year Two

You will build on the foundations laid in the first year and extend your knowledge of finance by studying key areas of the subject such as Econometrics, Financial Statement Analysis and Financial Management . One of the modules will cover important aspects of being a financial professional such as ethics and regulations.

Year Two Compulsory Modules

  • Econometrics 1 (ECON212)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting70:30
    Aims

    Econometrics is concerned with the testing of economic theory using real world data. This module introduces the subject by focusing on the principles of Ordinary Least Squares regression analysis. The module will provide practical experience via regular laboratory session.   This module also aims to equip students with the necessary foundations in econometrics to successfully study more advanced modules such as ECON213  Econometrics II, ECON311  Methods of Economic Investigation: Time Series Econometrics and ECON312 Methods of Economic Investigation 2: Microeconometrics.

    Learning Outcomes

    (LO1) Reinforce the  understanding of fundamental principles of statistics, probability and mathematics to be used in the context of econometric analysis

    (LO2) Estimate simple regression models with pen and paper using formulae and with the econometric software EViews7

    (LO3) Understand the assumptions underpinning valid estimation and inference in regression models

    (LO4) Formulate and conduct intervals of confidence and tests of hypotheses

    (LO5) Evaluate the impact that changes in the unit of accounts of variables and changes in the functional form of equations may have upon the results of OLS and their interpretation

    (LO6) Assess the goodness of results by means of appropriate tests and indicators

    (LO7) Assess predictions

    (LO8) Extend analysis to the context of multiple linear regression

    (LO9) Use EViews7 to estimate simple linear regression models  and multiple linear regression models

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) IT skills

  • Econometrics 2 (ECON213)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting60:40
    Aims

    The aims of this module are to build on ECON212 by extending the treatment of regression to the multiple regression model and to develop practical research skills which would be expected from a graduate in Economics either as a foundation for postgraduate study or for work as a professional economist recruited at graduate level.

    Learning Outcomes

    (LO1) Students will be able to explain the assumptions required for OLS multiple regression to be Best Linear Unbiased

    (LO2) Students will be able to explain the problem of multicollinearity, how it is detected and how it can be resolved

    (LO3) Students will be able to conduct single and joint hypothesis tests

    (LO4) Students will be able to test restrictions on coefficients

    (LO5) Students will be able to construct and interpret confidence intervals around estimates and forecasts

    (LO6) Students will be able to propose and implement model building strategies and criteria for evaluating model adequacy

    (LO7) Students will be able to explain, use and interpret dummy variables

    (LO8) Students will be able to explain and implement the generalised method of moments using instrumental variables

    (LO9) Students will be able to conduct independent econometric research and present the results in a professional manner

    (LO10) Students will be able to develop a knowledge of the appropriate quantitative tools used inaddressing real world economic issues.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Teamwork

    (S4) Organisational skills

    (S5) Communication skills

    (S6) IT skills

    (S7) Lifelong learning skills

  • Ethics and Regulations in Finance (ECON230)
    Level2
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting0:100
    Aims

    The aims of this module will be to provide students with the knowledge and skills to understand and critically evaluate theimplications of ethical issues in the context of finance with particularreference to the CFA Institute Code of Ethics and the Standards of ProfessionalConduct. Themodule will also aim at providing students with a critical understanding of therole, nature and implications of the current structure of regulation of banksand international financial markets.

    Learning Outcomes

    (LO1) Students will be able to understand the main issues of broad ethical principles concerning theobligations of employers and employees towards each other and towards their clients

    (LO2) Students will be able to evaluate and apply the CFAInstitute Code of Ethics and Standards of Professional Conduct

    (LO3) Students will be able to criticallyevaluatethe ethical issues, ethical practices and ethical dilemmas in the context of finance

    (LO4) Students will be able to evaluate the main regulations affecting the banking and the financial sector

    (LO5) Students will be able to critically analyse how regulation impacts on banks and the financialsector

    (LO6) Students will be able to evaluate the impact of the 2008 financial crisis on both ethics and regulationsin the UK and internationally

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Teamwork

    (S4) Communication skills

    (S5) International awareness

    (S6) Lifelong learning skills

    (S7) Ethical awareness

  • 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 Outcomes

    (LO1) Facilitate understanding of the main themes of modern financial management.

    (LO2) Equip students with the tools and techniques of financial management.

    (LO3) Enable students to interpret and critically examine financial management issues and controversies.

    (LO4) Provide the necessary knowledge to allow students to progress to studying Business Finance in the third year.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial awareness

    (S4) Organisational skills

    (S5) Communication skills

    (S6) IT skills

    (S7) International awareness

    (S8) Lifelong learning skills

    (S9) Ethical awareness

  • Financial Reporting and Analysis (ACFI220)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting0:100
    Aims

    This module aims to provide students with thetheoretical knowledge, the techniques and skills needed to interpret financialdata as a financial analyst.

    Learning Outcomes

    (LO1) Students will be able to understand the role of financial statements in assessingthe performance and position of an entity from the point of view of a financialanalyst

    (LO2) Students will be able to critically reflect on the strength and limitations of thefinancial information reported by firms

    (LO3) Studentswill be able to develop an awareness of data sources and databases relevant to a role asfinancial analyst

    (LO4) Students will be able to write a comprehensive report on a firm based ona critical assessment  of the financialstatements produced by the firm

    (S1) Flexible and adaptable

    (S2) Problem solving skills

    (S3) Numerate

    (S4) Commercially aware

    (S5) Organised and able to work under pressure

    (S6) Communication skills

    (S7) IT Literate

    (S8) Internationally aware

    (S9) Lifelong learning skills

    (S10) Ethically aware

  • 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

    (LO1) Students will be able to identify the applications of fundamentals of finance in an international context

    (LO2) Students will be able to examine how the process of Globalization extends to a MNE and the implications for risk and returns of a business

    (LO3) Students will be able to explore the theory of competitive advantage to justify international trade

    (LO4) Students will be able to evaluate the characteristics of an ideal currency

    (LO5) Students will be able to identify the impact of the Balance of Payments in international foreign investment decisions

    (LO6) Students will be able to explore the main approaches to exchange rate determination

    (LO7) Students will be able to develop a critical perspective on the choice of exchange rate regimes

    (LO8) Students will be able to distinguish between the three major foreign exchange exposures experienced by firms

    (S1) Problem Solving Skills

    (S2) Numeracy

    (S3) Commercial Awareness

    (S4) Teamwork

    (S5) Organisational skills

    (S6) Communication skills

    (S7) IT skills

    (S8) International Awareness

    (S9) Ethical Awareness

  • Mathematical Economics 2 (ECON211)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting80:20
    Aims

    The aim of this module is to introduce students to the use of mathematical models in the study of Economics
    To build on the material of Year 1 Mathematics and Economics and deepen students' knowledge of mathematical techniques involved in Microeconomics and game theory
    To develop more advanced mathematical skills
    To develop an ability to use models to solve economic problems

    Learning Outcomes

    (LO1) Students will be able to revise univariate calculus.

    (LO2) Students will be able to introduce matrix algebra.

    (LO3) Students will be able to acquire skills with multivariate calculus.

    (LO4) Students will be able to develop study optimisation.

    (LO5) Students will be able to apply these skills to microeconomic problems

    (LO6) Students will be able to apply these skills to macroeconomic problems

    (S1) Problem-solving skills

    (S2) Numeracy

  • Securities Markets (ECON241)
    Level2
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting75:25
    Aims

    This module seeks to provide an understanding of:
    the role of securities markets in the economy;
    their basic mechanics and technical features;
    the valuation of financial assets;
    the operational and allocative efficiency of the market.

    Learning Outcomes

    (LO1) Appreciate the central role of securities markets in the economy

    (LO2) Understand and apply appropriate economic theory to market organisation

    (LO3) Display an understanding of the usefulness of portfolio theory and the approaches to the valuation of financial assets

    (LO4) Read the financial press and appreciate issues relating to the study of the securities markets

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Numeracy

    (S4) Commercial awareness

    (S5) Teamwork

    (S6) Organisational skills

    (S7) Communication skills

    (S8) IT skills

    (S9) International awareness

    (S10) Lifelong Learning Skills

    (S11) Ethical Awareness

Programme Year Three

In your final year you will have the opportunity of applying the theories you have learnt to practical issues by taking a year-long dissertation module. The third year will also cover core areas of finance such as Business Finance, Derivatives, Capital Markets and Risk Management.

 

Year Three Compulsory Modules

  • 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 course aims to build transferrable skills of students by concentrating on the fundamental theoretical and empirical principles.

    Learning Outcomes

    (LO1) Understand the principles of bonds and stocks valuation.

    (LO2) Assessment of the term structure of interest rates

    (LO3) Develop understanding of emperical and theoretical aspects of capital budgeting under uncertainty, market efficiency

    (LO4) Understand portfolio theory, asset pricing models (CAPM,APT), and portfolio management.

    (LO5) Develop understanding of issues involved in Capital Structure and Dividend policy .

    (LO6) Understand the principles and practices involved in leasing, mergers and acquisitions

    (LO7) Understand the functions and valuation principle of options, futures, warrants and convertibles.

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Commercial Awareness

    (S4) Communication skills

  • Capital Markets (ACFI321)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    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

    (LO1) 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.

    (LO2) 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.

    (LO3) 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.

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Commercial awareness

    (S4) Communication skills

    (S5) Lifelong learning skills

    (S6) Ethical awareness

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

    This course provides an introduction to derivative securities. Alternative derivative securities like forwards, futures, options, and exotic derivative contracts will be discussed. This incorporates detailing the properties of these securities.

    Furthermore, a key aim is to outline how these assets are valued.   Also the course demonstrates the use of derivatives in arbitrage, hedging and speculation. Finally, practical applications of derivatives and potential pitfalls are discussed.

    The class is run as a discussion based forum and students are expected to read all necessary materials prior to each session.

    Learning Outcomes

    (LO1) Students will be able to describe the principles of option pricing.

    (LO2) Students will be able to compare and contrast alternative fair valuation techniques for pricing derivative instruments.

    (LO3) Students will be able to explain the biases in option pricing models.

    (LO4) Students will be able to apply an appropriate pricing model to a variety of contingent claim securities.

    (LO5) Students will be able to recognize the trading strategy appropriate to expected future market conditions.

    (LO6) Students will be able to 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.

    (S1) Adaptability

    (S2) Problem solving skills

    (S3) Numeracy

    (S4) Commercial awareness

    (S5) Teamwork

    (S6) Organisational skills

    (S7) Communication skills

    (S8) IT skills

    (S9) International awareness

    (S10) Lifelong learning skills

    (S11) Ethical awareness

  • 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: Interest rate risk Market risk Credit risk Liquidity risk Capital adequacy Sovereign risk The class is run as a discussion based forum.

    Learning Outcomes

    (LO1) Students will be able to understand how risk management contributes to value creation

    (LO2) Students will be able to understand how the global market for credit operates

    (LO3) Students will be able to explain the causes of the recent global credit crisis

    (LO4) Students will be able to overview the risks facing a modern corporation

    (LO5) Students will be able to analyse the effects of interest rate volatility on risk exposure

    (LO6) Students will be able to examine market risk, which results when companies actively trade bonds, equities and other securities

    (LO7) Students will be able to examine how credit risk adversely impacts a financial institution’s profits

    (LO8) Students will be able to analyse the problems created by liquidity risk

    (LO9) Students will be able to become familiar with the concept of capital adequacy and also with the Basel Accords

    (LO10) Students will be able to examine several aspects of sovereign lending and the underlying risks

    (S1) Adaptability

    (S2) Numeracy

    (S3) Problem solving skills

    (S4) Teamwork

    (S5) Organisational skills

    (S6) Communication skills

    (S7) IT skills

    (S8) International awareness

    (S9) Lifelong learning skills

    (S10) Ethical awareness

  • Project in Finance (ACFI318)
    Level2
    Credit level30
    SemesterWhole Session
    Exam:Coursework weighting0:100
    Aims

    This module aims to give students anopportunity to conduct an independent piece of research under supervision. Uponsuccessful completion of the project, students will be able to conduct a literature review on a topic related to finance, identify andcollect relevant data, apply their knowledge of econometrics, criticallyevaluate the empirical results and produce a 10,000 word document in the styleof an academic paper.

    Learning Outcomes

    (LO1) Students will be able to undertake a literature review

    (LO2) Students will be able to identifyappropriate research questions

    (LO3) Students will be able to select appropriate methodology to collect relevant data

    (LO4) Students will be able to apply appropriate models and frameworks in order to critically analyse key issues in finance

    (LO5) Students will be able to present oral and written reasoned conclusions and recommendations

    (S1) Problem solving skills

    (S2) Numeracy

    (S3) Organisational skills

    (S4) Communication skills

    (S5) IT skills

    (S6) International awareness

    (S7) Lifelong learning skills

    (S8) Ethical awareness

Year Three Optional Modules

  • 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

    (LO1) Understand the key concepts and issues in behavioural finance

    (LO2) Possess a good command of the key theoretical and empirical literature in behavioural finance

    (LO3) Have practiced skills of problem-solving and critical thinking

    (LO4) Be familiar with the main implications (theoretical and empirical) of Behavioural Finance findings

    (LO5) Construct and present critical evaluations of key academic papers in Behavioural Finance

    (LO6) Development of key skills in terms of writtencommunication (eg by completing formative class questions and assignment;through a summative assignment and examination)

    (LO7) Developmentof key skills in oral presentation (eg through group work)

    (LO8) Development of key skills in terms of class participation

    (LO9) Development of key skills in terms of planning and time-management (eg preparing for classes; observing assignment deadlines),problem-solving, critical thinking and analysis, numeracy (eg by applyingtheir extant quantitative knowledge in understanding behavioural financeissues) and initiative (eg searching relevant literature and information inpreparation of seminars and summative assignment)

    (S1) Teamwork

    (S2) Organisational skills

    (S3) Communication skills

    (S4) IT skills

    (S5) International awareness

    (S6) Lifelong learning skills

    (S7) Ethical awareness

  • 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

    (LO1) understand the need for corporate governance and the reasons for its continued development;

    (LO2) understand the key principles within corporate governance frameworks, with specific reference to the UK Corporate Governance Code;

    (LO3) be able to critically analyse and discuss the corporate governance arrangements for several types of organisation.

    (S1) Organisational skills

    (S2) Communication skills

    (S3) International awareness

    (S4) Lifelong learning skills

    (S5) Ethical awareness

  • Financial Crises and Defaults (ACFI319)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    This module aims to provide students with a fundamental understanding of the core theoretical and empirical aspects involved in financial crises and defaults. In particular, the aims are that students will be able to:
    1. Become familiar with a range of mathematical techniques commonly employed in finance with particular emphasis on sovereign debt valuation .
    2. Develop an understanding of the main factors behind financial crises and sovereign defaults.
    3. Become familiar with a range of econometric techniques and models 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 dependent on a set of underlying assumptions such as a linear versus a non-linear specification or the conditioning information set (in terms of defining the so-called ‘control’ variables), have limitations in the sense that the answer to a particular problem might change once the underlying assumptions change.

    Learning Outcomes

    (LO1) Students will be able to understand the principles of sovereign debt evaluation.

    (LO2) Students will be able to understand how credit-rating agencies assign credit-rating scores to sovereign bonds.

    (LO3) Students will be able to develop a deep understanding of economic and financial factors that trigger financial crises and sovereign defaults.

    (LO4) Students will be able to develop the ability to analyse and evaluate economic data in order to empirically assess (using econometric software EVIEWS) whether excessive debt levels impact negatively on economic growth.

    (LO5) 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.

    (S1) Problem Solving Skills

    (S2) Numeracy

    (S3) Commercial Awareness

    (S4) Communication Skills

  • Issues in Development Finance (ACFI317)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting60:40
    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

    (LO1) Students will be able to understand the fundamental principles and concepts of finance and their application and relevance in the context of development and development finance.

    (LO2) Students will be able to develop a deeper understanding of the financial problems and constraints faced by individuals, households, firms and financial institutions in the context of developing countries.

    (LO3) Students will be able to critically evaluate the impact of different sources of finance such as foreign aid, FDI and microfinance.

    (LO4) Students will be able to critically evaluate financial issues in a clear international context.

    (LO5) Students will be able to develop a critical awareness of the ethical issues involved in financial decisions and topics covered in the module

    (S1) Communication skills

    (S2) IT skills

    (S3) International Awareness

    (S4) Ethical Awareness

  • Methods of Economic Investigation 1: Time Series Econometrics (ECON311)
    Level3
    Credit level15
    SemesterSecond Semester
    Exam:Coursework weighting100:0
    Aims

    The aim of this module is to give students an understanding of econometric time series methodology. The module will build upon the materials of ECON212 Basic Econometrics. Important extensions include volatility models of financial time series and multivariate (multiple equations) models such as vector error correction and related cointegrating error correction models.

    Learning Outcomes

    (LO1) Specify and demonstratethe distributional characteristics of a range of time series models

    (LO2) Estimate appropriate models for financial andeconomic time series for the purposes of forecasting andinference

    (LO3) Understand a range ofunivariate and multivariate models of financial and economic time series processes.

    (LO4) Applyunivariate and multivariate model selection and evaluation methods

    (LO5) Understand theimplications of conditional heteroskedasticity, unit roots and    cointegration in economic andfinancial time series analysis

    (S1) Problem solving skills

    (S2) Numeracy

  • Methods of Economic Investigation 2: Microeconometrics (ECON312)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    The module is designed to give students an introduction to the key advanced techniques in microeconometrics, building on second year work in econometrics. The module will develop applied research skills, including the ability to collect and analyse data using appropriate econometric techniques and bespoke software. The module will equip students for study at leading graduate schools of Economics and for work as professional economists/business analysts.

    Learning Outcomes

    (LO1) Explain the nature of and rationale for key techniques in microeconometrics

    (LO2) Select and apply key microeconometrics techniques using appropriate econometric software

    (LO3) Interpret and appraise econometric results arising from the application of key microeconometric techniques

    (LO4) Conduct independent applied economic research

    (S1) Problem Solving Skills

    (S2) Numeracy

    (S3) Teamwork

    (S4) Organisational skills

    (S5) IT skills

    (S6) lifelong learning skills

  • Principles of Finance With Excel (ACFI315)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting0:100
    Aims

    The aim of the module is to provide a greater awareness of the capability of Excel in the financial environment.

    Learning Outcomes

    (LO1) Students will be aware of the capabilities of Excel as a financial modelling tool

    (LO2) Students will be able to undertake sophisticated portfolio modelling using Excel

    (LO3) Students will use Excel to quantify and manage risk

    (LO4) Students will be able to use Excel to analyse and appraise real investment decisions

    (S1) Problem solving skills

    (S2) IT skills

    (S3) Numeracy

    (S4) Written communication skills

    (S5) Commercial awareness

    (S6) Organisational skills

    (S7) Lifelong learning skills

  • Quantitative Financial Economics (ECON308)
    Level3
    Credit level15
    SemesterFirst Semester
    Exam:Coursework weighting100:0
    Aims

    This module provides a thorough overview of financial economics, starting from the decision-making under uncertainty and applying these concepts to optimal portfolio choice by the consumer, optimal investment by the firm, pricing contingent claims, term structure of interest rates and real option analysis.  In addition to standard asset pricing models, the efficient capital markets theory will be extensively  covered.

    Learning Outcomes

    (LO1) Students will be able to understand the role of capital markets

    (LO2) Students will be able to use capital budgeting techniques

    (LO3) Students will be able to understand and measure risk aversion

    (LO4) Students will be able to calculate the optimal portfolio between two risky assets

    (LO5) Students will be able to forecast asset return and volatility based on historical data

    (LO6) Students will be able to forecast asset return and volatility based on historical data

    (LO7) Students will be able to understand and use futures and forward contracts

    (LO8) Students will be able to understand and be able to use options

    (S1) Problem-solving skills

    (S2) Numeracy

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 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 our PC suites.

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.