ECONOMICS, FINANCE AND ACCOUNTING COURSES

ECONOMICS, FINANCE AND ACCOUNTING COURSES

Introduction to Personal Finance

150FIN

1. MODULE SUMMARY

Aims and Summary

This module aims to provide students with an understanding of the importance of personal finance, and of the constraints and opportunities relating to personal finance

Module Size and credits

Module size Single

CATS points 20.0

ECTS credits 10.0

Open/Restricted Restricted

Availability on/off campus On Campus only

Total student study hours 200

Number of weeks 16

School responsible Faculty of Business and Law

Academic Year 2015–2016

Entry Requirements (pre-requisites and co-requisites)

None

Excluded Combinations

Modules: A155FIN

Composition of module mark (including weighting of components)

50% Coursework and 50% Exam

Pass requirements

Coursework must be at least 35% and Exam must be at least 35% and Module Mark must be at least 40%

Special Features

None

Course stages for which this module is mandatory

• BESU208 BSc Stage 1 Finance • BESU010 BA Stage 1 Accountancy • BESU158 BA Stage 1 Finance and Investment • BESU043 BA Stage 1 Business and Finance • BESU041 BA Stage 1 Accounting and Finance

Course stages for which this module is a core option

• BESU157 BA Stage 2 Economics Studies • BESU151 BA Stage 2 Financial Studies • BESU151 BA Stage 1 Financial Studies

2. TEACHING, LEARNING AND ASSESSMENT

Intended Module Learning Outcomes

After successfully completing this module students should:

1. Identify the key stakeholders in the UK financial services industry and the key processes, responsibilities and interactions in the light of current legislation.

2. Recognise the financial responsibilities and decisions associated with different stages in life, and identify the financial products appropriate to those decisions.

3. Make and explain the calculations associated with basic financial planning, eg prediction of income, valuation of a stream of cash flows, and the annual savings needed to build a capital value.

4. Identify the opportunities provided to business by financial products.

Indicative Content

The nature of personal financial planning. Budgeting. Managing liquidity. Financing large purchases. Core principles of personal financial planning.

The economic and demographic environment. The significance of an ageing population.

Deposits and debts. Simple and compound interest. Nominal and real interest. Interest rates and APRs. Banks and building societies.

Shares and bonds. The risk and return characteristics of shares and bonds. Diversification.

Institutional investments. Unit trusts, OEICs, investment bonds. Financial advice: fees versus commissions. The long term impact of charges. The economic significance of institutional investors.

Insurance. General insurance and life assurance. Term assurance, endowment policies, whole-of-life policies.

Tax efficient investments. Individual Savings Accounts.

Pensions. State pensions. Occupational pensions and personal pensions. Defined benefit and defined contribution schemes.

The regulation of personal financial services. The Financial Services Authority. The Financial Ombudsman.

Personal taxation. Income tax. National insurance contributions. Council tax.

Teaching and Learning

Lectures and seminars

Student activity and time spent on each activity comprises:

Guided 82 hours (41%)

Lecture 24 hours (12%)

Self guided 65 hours (33%)

Seminar 24 hours (12%)

Tutorial 5 hours (3%)

Total 200 hours

Method Of Assessment (normally assessed as follows)

The intended learning outcomes will be assessed as follows:

One 2,500 word written assignment done in pairs (10 credits) will assess Learning Outcomes 1,2,3 and 4. By exception, trios and singletons will be allowed.

An end-of-session unseen examination of 2 hours (10 credits) will assess Learning Outcomes 1,2,3,4.

Please note that no coursework will be marked until an identical electronic copy has also been submitted into the module web for a plagiarism check.

Re-assessment: Coursework and/or examination as appropriate.

Date of last amendment

13-Mar-2008

3. MODULE RESOURCES

Click here to access the module reading list via the University's

Resource Lists system.

Required Equipment

Calculator with power function

4. MODULE ORGANISATION

Module leader

Name Mrs A Gill

Telephone number 658450

E-mail [email protected]

Length and month of examination

2.00 hours in January

Common Exam(s)

None

Exam Equipment Required

None

Expected teaching timetable slots

Note that some tutorials/seminars may be provided at times other than those shown below. Timetable information should be verified with the School responsible for the module

No timetable information available

Subject Quality and Approval information

Board of Study Economics, Finance and Accounting

Subject Assessment Board Economics & Finance (UG)

http://resourcelists.coventry.ac.uk/modules/150fin.html


Shortened title INTRO TO PERS FIN

Date of approval by BoS 18-Nov-2012

Intermediate Economics 1

200ECN

1. MODULE SUMMARY

Aims and Summary

This module aims to deepen and widen students’ understanding by building upon the foundations acquired from the introductory economics modules (add codes later). It provides a thorough grounding in intermediate principles of microeconomics and macroeconomics. The module provides students with an appreciation of the potential applications of the analytical techniques, their limitations and critiques. In addition it also introduces students to some of the controversies between alternative theoretical approaches. It provides the underpinning for subsequent study in the degree courses in economics and it is also one of the key elements in the professional training of an economist.

Main topics covered in the module will include the theory and applications of consumer choice theory under conditions of both certainty and uncertainty, measuring consumer welfare, intertemporal choice, growth and business cycle theory, consumption behaviour and demand for money.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




Introductory Economics 1 (100ECN) and

Introductory Economics 2 (101ECN)

Pre-requisite Modules:(100ECN or 110ECN or 111ECN) and (101ECN or 110ECN or 111ECN) or equivalent


None



Pass requirements


Special Features

None


• BESU039 BA Stage 2 Financial Economics • BESU040 BA Stage 2 International Economics and Trade • BESU038 BA Stage 2 Business Economics • BESU037 BA Stage 2 Economics


• BESU157 BA Stage 2 Economics Studies • BESU192 None Stage 1 Contemporary studies



1. Demonstrate an understanding of the intermediate principles of microeconomics and macroeconomics

2. Apply appropriate theoretical models to analyse economic questions and policy issues

3. Compare and contrast alternative models of economic behaviour 4. Appraise the relative merits of different economic policy options 5. Demonstrate an ability to communicate logical arguments

Indicative Content

A Review of Consumer Theory

Consumer preferences; the budget constraint; utility functions; demand functions; income and substitution effects; composite goods;

Applications of Consumer Choice Theory

Price subsidies, income subsidies, in-kind transfer and vouchers; income vs. quantity tax; non linear budget constraints; intertemporal choice; discounted utility model and hyperbolic discounting; the measurement of consumer welfare; equivalent and compensating variation; consumer surplus; compensated and uncompensated demand curves; duality

Decision Making Under Uncertainty

Expected value and expected utility; risk averse, risk neutral and risk loving preferences towards risk; certainty equivalent and risk premium; the demand for insurance; Allais paradox and reflection effect; Prospect theory, loss aversion and reference points; asymmetric information; moral hazard and adverse selection

Introduction to Intermediate Macroeconomics

Macroeconomic data and indexes; Keynesian model

Macroeconomic Growth

Solow growth model; Steady state; Golden rule level of capital; Endogenous Growth model

Business cycle theory

Keynesian theory, Real business cycle

Consumption theories

Life-cycle theory, Permanent income hypothesis

Investment

Keynes’ theory, accelerator theory, neoclassical theory, Tobin’s Q-theory

Demand for money

Narrow and broad money, Transactions motive, precautionary motive, speculative motive


Lectures introduce students to main concepts, principles and theories.

Workshops will include a range of techniques which are designed to encourage lively and interactive learning, drawing on relevant research. Activities will include classroom games/experiments, collaborative problem solving exercises and case studies based on relevant academic journal articles. These activities will create a more experiential environment and promote inquiry-led learning. They are also aligned with the methods of assessment and learning outcomes for the modules.

Students will be expected to read relevant chapters in textbooks and recommended journal articles and manage their self directed study time effectively in order to prepare for the workshops and assessments.







Total 200 hours


One 50 minute in class test (5 credits) will summatively assess intending learning outcome 1, 2 and 5.

One 1500 word individual essay (5 credits) will summatively assess learning outcomes 3, 4 and 5

A two hour closed book examination (10 credits) will summatively assess learning outcomes 1, 2, 3, 4 and 5.

All the learning outcomes will be formatively assessed in the workshop programme via a series of work sheets, case studies, interactive games/experiments and marking exercises. Regular, immediate and dialogic feedback/feedforward will be provided during these activities which will help students prepare for the summative assessments. Formative feedback on the summative coursework will also stress the ‘feedforward’ for later assessments.


Re-assessment: coursework component(s) and/or examination as appropriate


3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Mr J Guest





Common Exam(s)

None


None







Shortened title


http://resourcelists.coventry.ac.uk/modules/200ecn.html


International Trade and Global Economic Issues

215ECN

1. MODULE SUMMARY

Aims and Summary

The aim of this module is to enable students to understand the key elements of international trade theory and trade policy, and apply the underlying principles to assess major contemporary developments in the world economy.

The module will also examine the current and future role of the major economic institutions and assess the nature of international economic policies for promoting and managing global growth and trade, monetary stability and development.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




100ECN and 101ECN or equivelent (110ECN and 111ECN)


None



Pass requirements


Special Features

None


• BESU040 BA Stage 2 International Economics and Trade


• BESU157 BA Stage 2 Economics Studies • BESU192 None Stage 1 Contemporary studies • BESU038 BA Stage 2 Business Economics • BESU037 BA Stage 2 Economics



The intended learning outcomes are that, on completion of this module, the student should be able to:

1. Demonstrate an understanding of the concepts, principles and analytical tools of relevance to trade theory.

2. Assess and analyse global trends and issues in trade and international trade policy.

3. Critically evaluate global issues and the role of international economic institutions in the global economy.

Indicative Content

Globalisation: Trends and Debates

Empirical projections of global economic trends in trade and investment. Assessing patterns of global shift and evidence of growing interdependence of world economies.

International Trade Theory and Policy

Characteristics of International Trade: Models of Comparative Advantage and analysis of gains from trade. Modern Trade theories and New Protectionism in Trade. The debate on Free Trade vs. Protection: arguments for and against. Economic analysis of tariff and non-tariff barriers. Trade Strategies for Industrial and Developing Countries.

Regional Trading Blocks and Economic Integration

Basic analysis of Regional Trading Blocs and applications e.g. NAFTA and the European Union. The multilateral approach on trade liberalisation and the role of the WTO.

International Movement of Resources

Economic analysis of factor mobility: labour and capital. Factors influencing migration with application to the European migration problem. Factors influencing capital movements and the role of the international capital market.

The IMF and World Bank

The international monetary system; institutions and problems of international policy co-ordination; case studies on current global issues. Role of the World Bank and the IMF in the World Economy.


Module delivery will be through a twice weekly series of lecturers and seminars, including discussion of relevant case studies and student presentations.







Total 200 hours



Learning outcomes 1, 2 and 3 will be summatively assessed by a two-hour closed book examination (10 credits)

Coursework 1 - an individual 1500 word essay (7 credits) will summatively assess learning outcomes 1 and 2.

Coursework 2 - a twenty-five minute group presentation formatively assessed with a summatively assessed student handout (3 credits) will assess learning outcome 3.

All learning outcomes will also be formatively assessed through seminar exercises with feedback provided in class.


Reassessment: coursework and/or examination as appropriate.


March 2010

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Ms P Yavash





Common Exam(s)

None


None









Shortened title INT TRAD & GLOB ECN ISU


Economics of Banking and Finance

226ECN

1. MODULE SUMMARY

Aims and Summary

The aim of this module is to enable students to analyse the nature and functions of financial institutions, to equip students with the necessary tools and concepts to be able to explain and interpret the process of financial intermediation, and to understand the system of regulation in financial markets. The module also examines the underlying principles and characteristics of money and banking that are the foundation for understanding their role in the economy.

Topics studied will include the role and importance of banks in financial intermediation, their fundamental characteristics as depository institutions and suppliers of money, the management of risks involved in their operations, and how regulation addresses some of the risks


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 10




None


None



Pass requirements


Special Features

None.


• BESU208 BSc Stage 2 Finance • BESU158 BA Stage 2 Finance and Investment


• BESU010 BA Stage 2 Accountancy • BESU039 BA Stage 2 Financial Economics • BESU157 BA Stage 2 Economics Studies • BESU151 BA Stage 2 Financial Studies • BESU041 BA Stage 2 Accounting and Finance • BESU043 BA Stage 2 Business and Finance • BESU192 None Stage 1 Contemporary studies • BESU042 BA Stage 2 Business and Accounting • BESU151 BA Stage 3 Financial Studies • BESU998 None Stage 1 TARUC Banking and Finance



The intended learning outcomes are that, on completion of this module, students should be able to:

1. Analyse and interpret the functions and operations of financial institutions like banks.

2. Demonstrate knowledge and comprehension of the characteristics and tools that financial institutions use for risk management.

3. Appraise the need for, types of and effects of, regulation in financial markets.

4. Assess the role of central banks in maintaining monetary and financial stability

5. Make use of the BankScope database to undertake empirical analysis of an issue in banking

Indicative Content

Financial Intermediation: The nature and functions of financial intermediaries, types of financial intermediaries and financial institutions, the justification for their existence, and the role of asymmetric information therein.

The changing nature of bank balance sheets with particular reference to the role and impact of securitisation and complex financial products.

Introduction to managing risk: Types of risks incurred by financial firms, introduction to the measurement of risks, and risk management strategies adopted by financial firms.

The role of banks as suppliers of money, the aggregate demand for money in the economy, and the implications for monetary policy.

The changing role of central banks and the tools they have at their disposal for maintaining monetary and financial stability.

Regulation of financial firms: Rationale for regulating financial firms, types of regulation, implications of and responses to the regulation.


Lectures: Basic concepts and techniques outlined

Seminars: Problems discussed, case studies analysed.

Directed and self-directed study


Guided 82 hours (41%) Lecture 24 hours (12%) Self guided 65 hours (33%) Seminar 24 hours (12%) Tutorial 5 hours (3%) Total 200 hours







Total 200 hours



Learning outcomes 1, 2, 3 and 4 will be assessed by a multiple choice in-class test (5 credits)

Learning outcomes 1, 3, 42 and 5 will be assessed by a formal group presentation and 3,000 word piece of group coursework with each member of the group contributing an individual section (10 credits) 1,500 word piece of individual coursework requiring analysis of data, obtained from the BankScope database, relating to an issue in banking (5 credits)

Outcomes 1, 2, 3 and 4 will be assessed by a 2 hour unseen examination. (10 credits)


Re-assessment: Examination and /or coursework as appropriate


22/03/2013

3. MODULE RESOURCES



Required Equipment

None.


Module leader

Name Dr P Gower







Common Exam(s)

None


None







Shortened title ECON BANK FIN


Principles of Financial Investment

250FIN

1. MODULE SUMMARY

Aims and Summary

This module aims to introduce students to relevant concepts in finance. Students will learn about the function of capital markets, the trade off between risk and return, how to price financial assets and the importance of the way a firm finances its operations. The module is designed to develop numeracy and analytical skills


Module size Single

CATS points 20.0

ECTS credits 10.0


Availability on/off campus Available on and off campus


Number of weeks 10




None


None



Pass requirements


Special Features

None


• BESU039 BA Stage 2 Financial Economics • BESU208 BSc Stage 2 Finance • BESU041 BA Stage 2 Accounting and Finance • BESU043 BA Stage 2 Business and Finance • BESU158 BA Stage 2 Finance and Investment


• BESU010 BA Stage 2 Accountancy • BESU157 BA Stage 2 Economics Studies • BESU151 BA Stage 2 Financial Studies • BESU192 None Stage 1 Contemporary studies • ECU123 BSc Stage 2 Mathematical Studies • BESU040 BA Stage 2 International Economics and Trade • BESU038 BA Stage 2 Business Economics

• BESU151 BA Stage 3 Financial Studies • BESU037 BA Stage 2 Economics



The intended learning outcomes are that on completion of this module the student should be able to:

1. Demonstrate an understanding of concepts and analytical tools relevant to finance.

2. Appraise the operation of financial markets, particularly with respect to financial investment.

3. Solve problems relating to asset pricing, risk and return measurement and costs of capital.

4. Develop skills of numeracy, which are specific to finance.

Indicative Content

• The goals of the firm, the role of the financial manager, financial markets and stock market indices

• Stock market efficiency • The time value of money • Capital appraisal techniques • Risk and Return, including diversification, standard deviation,

systematic and non-systematic risks, efficiency frontiers and the CAPM

• Understanding and valuing bonds, including interest yield and redemption yield, duration, and default risk

• Understanding and valuing shares, including NAV, dividend discount models and price - earnings ratios

• Costs of capital and the capital structure debate


Lectures: Main concepts explained

Seminars: Worksheet exercises to develop understanding and analytical skills

Self-directed study: Students are expected to broaden their understanding of concepts covered in lectures and seminars.







Total 200 hours



Coursework

A 50min closed book multiple choice test (5 credits) to be sat mid way through the term. This will assess learning outcomes 1,2 and 4.

Examination

A 3-hour closed book examination (15 credits) will assess intended learning outcomes 1, 2, 3 and 4.

Re-assessment: Examination and/or coursework examination as appropriate.

.


March 2010

3. MODULE RESOURCES



Required Equipment



Module leader

Name Dr G Sadler







Common Exam(s)

None


None







Shortened title PRIN OF FIN INV


Decision Management

281ACC

1. MODULE SUMMARY

Aims and Summary

This module investigates how relevant accounting techniques can be used to assist managers in decision-making. The aims are for students to understand the techniques, be able to apply them to business situations and to be aware of their limitations.

In addition to this, students are introduced to the behavioural aspects of Managerial Accounting in areas such as transfer pricing and divisional performance.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




181ACC or equivalent

Pre-requisite Modules:(181ACC or 101ACC) or equivalent


Modules: 285ACC, 286ACC, 289ACC, 384ACC



Pass requirements


Special Features

None


• BESU010 BA Stage 2 Accountancy • BESU041 BA Stage 2 Accounting and Finance • BESU042 BA Stage 2 Business and Accounting


• BESU157 BA Stage 2 Economics Studies • BESU151 BA Stage 2 Financial Studies • BESU192 None Stage 1 Contemporary studies • BESU151 BA Stage 3 Financial Studies



The intended learning outcomes are that on completion of this module the student should be able to apply, and demonstrate an understanding of:

1. Capital Investment Appraisal, all techniques of appraisal and aspects of taxation and inflation.

2. Contribution analysis, including single and multiple limiting factors.

3. Decision making, including relevant costing, setting prices and transfer pricing.

4. Divisional performance. 5. Measuring performance including variance analysis.

1.

Indicative Content

Capital Investment Appraisal:

Origination of proposals and post-completion audits

Generation of relevant cash flows – including inflation and taxation effects

ARR, PBP, NPV and IRR – including strengths and weaknesses

Sensitivity analysis

Capital rationing and the Profitability Index

Importance of non-financial information

Contribution Analysis:

Cessation of product/profit centre

Limiting factor/scarce resource

Multiple limiting factors, using linear programming

One-off contracts

Make/buy situations

Relevant Costing:

Sunk, committed and non-cash costs

Opportunity costs and income

Treatment of material costs

Pricing:

Economist’s ‘one best price’ and elasticity of demand

Accountant’s cost-plus pricing and ‘absorption cost suicide spiral’

Marketer’s premium and penetration strategies, loss-leaders and product bundling

Target costing and pricing

Divisional Performance and Transfer pricing:

Responsibility accounting and organisational structure

Controllable and uncontrollable costs

Return on Investment, Residual Income and Economic Value Added

Transfer prices – perfect / imperfect / no market for intermediate product

Transfer prices – negotiated, administered, market and cost-plus

International transfer prices – taxation and distortion of reporting

Behavioural issues


The learning activities may include lectures, seminars/workshops, directed reading and computer-based learning. Also, students are expected to complete the programme of guided study.







Total 200 hours



The individual coursework of approximately 1,500 words (5 credits) will be a case study which will summatively assess one of the five intended learning outcomes.

There will be the opportunity for informed feedback before the final coursework is presented.

A 3 hour exam (15 credits) will summatively assess the other four intended learning outcomes.




14 February 2006

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Mr M Barker





Common Exam(s)

None


None


http://resourcelists.coventry.ac.uk/modules/281acc.html






Subject Assessment Board Accounting UG

Shortened title DEC MGT


Business Accounting

285ACC

1. MODULE SUMMARY

Aims and Summary

This module is for students on non-accounting courses and is designed to develop their understanding of the language, concepts and tools commonly used in financial and management accounting.

The students will be introduced to managerial accounting concepts and will be expected to apply them in a decision making context.

The students will be expected to draw up a basic set of financial accounts including profit and loss, balance sheet and cash flow. Using these they will be expected to make a comparative evaluation of the performance of the firm.


Module size Single

CATS points 20.0

ECTS credits 10.0

Open/Restricted Open



Number of weeks 16




None


Modules: 100ACC, 101ACC, 180ACC, 181ACC, 280ACC, 281ACC, 286ACC



Pass requirements


Special Features

None


• BESU158 BA Stage 2 Finance and Investment


• BESU157 BA Stage 2 Economics Studies • BESU151 BA Stage 2 Financial Studies • BESU043 BA Stage 2 Business and Finance • BESU192 None Stage 1 Contemporary studies • BESU151 BA Stage 3 Financial Studies




1. Apply numeracy skills and qualitative judgement to aid financial decision making.

2. Derive and make use of financial information to evaluate company performance

3. Apply management accounting concepts

Indicative Content

Basic accounting concepts

· Boundary, measurement and ethical principles

· Distinction between management and financial accounting

Introduction to financial accounting

· The structure, format and concepts of the basic financial statements: Income Statement, Statement of Financial Position, Cash flow

· Interpretation of financial statements

• Introduction to management accounting

· cost classification for decision making purposes

· cost-volume profit analysis

· overhead analysis

· variable and absorption costing

· investment appraisal techniques

· budgeting


In addition to lectures, seminars will incorporate a range of student based learning methods, including individual and group case studies and discussions.

Solutions to every case study will appear on the Moodle site after the seminars.

Lecture notes will also be made available to students studying the module.

Additional revision workshops will be made available.

In order to succeed in this module students will be expected to spend time preparing for each seminar.


Guided 82 hours (41%) Lecture 24 hours (12%) Self guided 65 hours (33%) Seminar 24 hours (12%)

Tutorial 5 hours (3%) Total 200 hours







Total 200 hours



Coursework – Assignment in small groups (2-3) (10 credits) will summatively assess intended learning outcomes 1, 2 and 3.

Examination - A 2 hour closed book exam (10 credits) will summatively assess learning outcomes 1, 2 and 3.


Re-assessment: coursework reassessment to equivalent individual written work. Examination as appropriate.


22/03/2013

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Dr R Wong







Common Exam(s)

None


None







Shortened title BUS ACCT


Accounting Information Systems

287ACC

1. MODULE SUMMARY

Aims and Summary

The Accounting Information Systems module explores the processes by which financial and management accounting is supported by various Enterprise Resource Planning Tools such as (SAP), and market leading software such as (SAGE) in the decision-making process.

The module aims to equip students with the knowledge and skills required to operate in a finance or accounting role in real world situations using internationally recognised software products to develop their abilities and understanding of the role of such tools in an industry setting.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




None


Modules: A256ACC, A300ACC


100% Coursework

Pass requirements

Module Mark must be at least 40%

Special Features

A variety of practical applications of financial and management accounting decision-making. The module makes extensive use of various ERP tools and an accounting computer package.


None


• BESU010 BA Stage 2 Accountancy • BESU157 BA Stage 2 Economics Studies • BESU151 BA Stage 2 Financial Studies • BESU041 BA Stage 2 Accounting and Finance • BESU192 None Stage 1 Contemporary studies • BESU042 BA Stage 2 Business and Accounting • BESU151 BA Stage 3 Financial Studies




1. Understand how various information systems are used to support financial and management accounting decision-making. Discuss the organisational implications of AIS deployment.

2. Demonstrate critical thinking and analysis skills of the issues surrounding ERP systems.

3. Summarise and present management information in an easy and comprehensible format.

4. In the context of an in-tray exercise and the use of the selected computer package, produce an accurate set of accounts involving financial and management accounting elements.

5. Use integrated software tools for planning, forecasting, directing and the production of reports integral to financial decision making.

Indicative Content

An introduction to Accounting Information Systems:

Information systems, computer hardware, computer software, databases, networks and the Internet and their applications to functional areas such as accounting and finance. Whilst also understanding their inter-relationships with marketing, operations management and human resource management.

Problem Solving with Information Systems:

Developing critical thinking skills, designing information systems solutions; use of data mining, data warehousing and simulation software.

Applications of Information Systems:

Applications of information systems in financial decision making and the management of financial and cost accounting information

as an organisational resource, and security, ethical and legal issues relating to information systems technology.

Applications of Software:

Processing routine transactions such as sales, sales returns, purchases, purchase returns, cheque payments and wages and salaries, and selected less routine transactions such as the writing off of bad debts, ensuring that the bad debt provision is appropriate, processing the transactions associated with fixed assets and the issue of shares.


This will use a mixture of interactive lectures, workshops and self-directed learning especially through the use of the package manual applied to the full range of elementary accounting problems. Regular immediate and dialogic feedback / feed forward will be provided to help students prepare for summative assessments. Formative feedback on the summative coursework will also stress 'feed forward' for later assessments.

This module will draw on and utilise the accounting process knowledge developed in level 1 and support the accounting knowledge developing in the level 2 accounting modules in a practical business scenario learning experience.







Total 200 hours



Assessment Weighting Learning Outcomes 1 2 3 4 5

Individual Coursework 1 – Typically online based testing

(10 credits)

50% x x x

Group Coursework

(10 credits)

50% x x x


1-Mar-2010

3. MODULE RESOURCES



Required Equipment

ERP Tool e.g. SAP and SAGE Book-keeping Software. This will be provided in computer labs.

Available on campus only.


Module leader

Name Mr D Johnson

Telephone number

E-mail


None

Common Exam(s)

None


None









Shortened title


Advanced Issues in Banking

300ECN

1. MODULE SUMMARY

Aims and Summary

The overall aim of this module is to build on the basic knowledge gained during the 226ECN (Economics of Banking and Finance) module in order to undertake in-depth, advanced analysis of a number of current issues in banking. In conjunction with 226ECN this module will provide an appropriate level of understanding and analytical skills for those students who wish to undertake postgraduate work in this area. It will also provide students with a level of appreciation of current banking issues that should enhance their employability in the sector.

The module will consider issues in three broad areas – namely, structure and performance of the banking sector, the implications of interventions in the market at the micro level and the implications of interventions in the market at the macro level. The rapidly evolving nature of the sector means that the precise content of the module may change but the basic framework will remain the same.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 10




226ECN

Pre-requisite Modules:226ECN or equivalent


None



Pass requirements


Special Features

The use of games in economics to simulate, for instance, the optimal allocation of public goods.


None


• BESU157 BA Stage 3 Economics Studies • BESU208 BSc Stage 3 Finance • BESU039 BA Stage 3 Financial Economics • BESU043 BA Stage 3 Business and Finance • BESU039 BA Stage 4 Financial Economics • BESU042 BA Stage 3 Business and Accounting • BESU010 BA Stage 3 Accountancy • BESU043 BA Stage 4 Business and Finance • BESU158 BA Stage 3 Finance and Investment • BESU158 BA Stage 4 Finance and Investment • BESU010 BA Stage 4 Accountancy • BESU042 BA Stage 4 Business and Accounting • BESU151 BA Stage 3 Financial Studies




1. Critically analyse current issues in banking using, as a basis, the framework developed in 226ECN at Level 2

2. Identify and discuss academic literature as it applies to current issues in banking

3. Undertake a more in-depth assessment of the issues using more advanced methodologies gained from recent contributions to the academic literature

4. Make use of databases to identify and assess, quantitatively, issues discussed in the module

Indicative Content

Three broad areas of current issues in banking will be considered although this will be dependent on current developments in the sector.

In terms of banking structure and performance issues will be considered relating to bank efficiency and risk taking, internal structure and organisation, competition and its relationship with financial stability and credit risk management.

With regard to official interventions by governments or regulators at the micro level, issues will be considered relating to deposit insurance and capital requirements and their implications – particularly with respect to banks’ cost of capital.

In terms of official interventions by governments or regulators at the macro level, issues will be considered in relation to the latest version of the Basel guidelines, the size and importance of the implicit subsidy provided by state support for the sector, the impact of Quantitative Easing and the theory and implications of credit crunch/rationing.











Total 200 hours



All learning outcomes will be assessed by a single 1750 word piece of individual coursework (5 Credits)

Learning outcomes 1, 2 and 3 will be assessed by a 3 hour unseen examination. (15 credits)

Please note that no coursework will be marked until an identical electronic copy has also been submitted into the module web for a plagiarism check. Re-assessment: Examination and /or coursework as appropriate


13 March 2008

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Dr P Gower







Common Exam(s)

None


None







Shortened title


Economic Policy in the European Union

324ECN

1. MODULE SUMMARY

Aims and Summary

The aim of this module is to provide an analysis of European economic integration, principally through the European Union (EU). The emphasis is on economic policy, supported by appropriate theory. The module will assess the impact of the EU on Europe, individual states and the rest of the world. While the focus is principally on the economic dimension of the EU, it is firmly placed within the context of the surrounding political debates.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




None


None



Pass requirements


Special Features

Internationalisation is a main theme of this module. In addition to visiting speakers, such as MEPs and lecturers from other EU states, there may be an opportunity to visit EU institutions in Brussels.


None


• BESU037 BA Stage 3 Economics • BESU157 BA Stage 3 Economics Studies • BESU040 BA Stage 4 International Economics and Trade • BESU192 None Stage 1 Contemporary studies • BESU037 BA Stage 4 Economics • BESU038 BA Stage 3 Business Economics • BESU038 BA Stage 4 Business Economics • BESU040 BA Stage 3 International Economics and Trade




1. Apply economic theory to a range of EU issues

2. Critically assess theories of economic integration

3. Evaluate the economic policies of the EU

4. Research EU issues by using a range of information sources and be able to assess the appropriateness of these sources

Indicative Content

Introduction

Appraisal of the evolution of the EU. EU institutions and decision making. Euromyths. Overview of major challenges facing the EU.

Economic Analysis of Preferential Trading Areas

Customs union theory: trade diversion and trade creation. Partial equilibrium analysis. General equilibrium analysis. Customs unions versus free trade areas. Cooper-Massell criticism. Static and dynamic effects of economic integration . Terms of trade effects.

The Single European Market

Analysis of European integration and the removal of non tariff barriers. Assessment of the microeconomic and macroeconomic benefits of a Single Market. Dynamic versus static effects. Tax harmonisation. FDI. Location effects and business.

Economic and Monetary Integration

Monetary union. Optimum currency areas and the EU. The European Monetary System. Evaluation of the Maastricht convergence criteria and the stability and growth pact. Fiscal policy in Economic and Monetary Union (EMU). Assessment of the feasibility of EMU.

The EU's Microeconomic Policies

Assessment of the EU's major microeconomic policies. (1) Competition Policy: Conduct of competition policy in the Single Market. Welfare analysis of anti collusive policy and anti monopoly policy. Mergers and efficiency. State intervention and trade distortions. A constraint on business? (2) Agriculture: Analysis of the price support mechanism of the CAP. Evaluation of CAP reforms. World trade negotiations. (3) Industrial Policy: Economic

rationale. Welfare analysis of research and development. Market Orientation. Evaluation of industrial policy. (4) Environment policy; Rationale and evaluation. (5) Energy Policy; Rationale and evaluation.

The Costs of Integration

Core versus periphery. Analysis of the effects of integration on EU regional disparities. Appraisal of regional policy and social policy, in counterbalancing integration.

Growth, competitiveness and employment

Sustainable growth. Persistent high unemployment. Reform of EU economies.

Trade policy

Common Commercial Policy. EU relations with China, the USA, Japan, and developing countries. Strategic Trade Policy. Trade wars. Relations with European countries outside the EU, including; EEA countries(such as Norway), Turkey and Switzerland.

The Enlargement Issue

Emerging European economies. Economics of transition. Economic impact of enlargement on the EU; threat or opportunity? Optimum size of the EU. Economic integration and variable geometry. The Lisbon Treaty. Europe at a crossroads: The social model v the Anglo-Saxon model v the Nordic model. Migration.

Consequences of the UK leaving the EU

An assessment of the overall costs and benefits of UK membership. Consequences of the UK leaving the EU.


In this internationally focused module there will be an overview of each topic followed by student-centered activities, including individual and group discussion of case study material, peer assessment, feedback on formative and summative work, and research using appropriate information sources. These activities will provide an opportunity to critically assess EU economic policy in greater detail.







Total 200 hours



A 1800 word essay (25% of module mark) will summatively assess intended learning outcomes 1, 2,3 and 4.

There will be a series of formative assessments relating to each of the learning outcomes which will help students prepare for the graded summative assessments above. Feedback for formative and summative assessments is provided in class and on the module web.

Exam (3 hours) (75% of module mark) will summatively assess intended learning outcomes 1, 2 and 3.

Re-assessment: coursework component(s) and/or examination as appropriate, subject to a maximum module mark of 40%


March 2010

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Mr M Walsh







Common Exam(s)

None


None







Shortened title ECON POL IN THE EU


Applied Econometrics

316ECN

1. MODULE SUMMARY

Aims and Summary

The aim of this module is to develop students' understanding of econometric techniques and economics modeling relevant to various Macro and Microeconomic applications. The empirical work covered in the lectures and seminars will be supplemented by students undertaking applied studies (using real and simulated data) using the PcGIVE econometrics package.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 15






None



Pass requirements


Special Features

None


None


• BESU037 BA Stage 3 Economics • BESU157 BA Stage 3 Economics Studies • BESU208 BSc Stage 3 Finance • BESU039 BA Stage 3 Financial Economics • BESU040 BA Stage 4 International Economics and Trade • BESU039 BA Stage 4 Financial Economics • BESU192 None Stage 1 Contemporary studies • BESU037 BA Stage 4 Economics • BESU038 BA Stage 3 Business Economics • BESU038 BA Stage 4 Business Economics • BESU040 BA Stage 3 International Economics and Trade



The intended module learning outcomes are that, on completion of this module the student should be able to:

1. understand and apply the techniques of econometric analysis,

1. interpret and critically evaluate published articles of applied econometric research, 2. conduct empirical analyses using a variety of econometric techniques and tests.

Indicative Content

1.

1. Unit roots, Cointegration analysis and the Error Correction Model

The consequences of the existence of unit roots in time series data are examined and they are tested for using the Augmented Dickey-Fuller test. Alternative unit root tests are also considered. The Engle-Granger test for cointegration is applied along with the ECM approach to modeling cointegrated series.

2. Econometric Methodology: Is econometrics Alchemy or Science?

In this section the methodological problems identified by econometricians such as David Hendry and the proposed solutions to these problems are examined.

3. VAR and Causality testing

VAR analysis is introduced and then used to undertake Granger and Sims causation testing.

4. GARCH and financial market volatility

The GARCH model and its variants, such as GARCH -in-mean and TGARCH are examined from the perspective of modeling autoregressive conditional hetroscedasticity in financial markets.

5. The modeling of demand:

A number of issues in the modeling of demand are considered. These are taken from: the impact of non-stationary on time-series demand models, structural equation modeling and the modeling of durable good demand.


This module operates on a lecture, seminar and computer workshop programme. In their self-study time, students will also be expected to undertake a number of computer-based sessions.







Total 200 hours


.

The intended outcomes will be assessed as follows:

• 2 pieces of econometric analysis. These will assess outcomes 1,2 and 3. (5 credits each) • 1 two-hour closed book examination. This will assess outcomes 1,2 and 3 (10 credits).

All the learning outcomes will be formatively assessed via sets of practice problems on each topic covered.



March 2010

3. MODULE RESOURCES



Required Equipment

Pass in 212ECN or equivalent


Module leader

Name Dr T Rodgers





Common Exam(s)

None




None







Shortened title APP ECNMET


International Economics

318ECN

1. MODULE SUMMARY

Aims and Summary

The primary aim of this module is to provide students with the opportunity to develop a thorough understanding of international trade theory and policy and international monetary economics. The trade theory and policy element offers a natural progression route for students having studied the basic elements in this field at Level Two (215ECN), although the focus will be more on new developments such as income inequality effects of trade and the importance of the role of international negotiations in trade liberalisation.

The international monetary element will focus on the role of monetary policy in theories of exchange rate determination and examine the problems inherent in fixed exchange rate systems. Additionally, the module will cover recent developments in monetary integration, including the implications for the conduct for monetary policy in monetary unions.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 10




215ECN or 201ECN or equivalent

(211ECN has been replaced by 201ECN) Pre-requisite Modules:(201ECN or 211ECN or 212ECN or 215ECN) or equivalent


None



Pass requirements


Special Features

None


• BESU210 BSc Stage 3 International Finance and Economics (top up)

• BESU040 BA Stage 4 International Economics and Trade • BESU040 BA Stage 3 International Economics and Trade


• BESU037 BA Stage 3 Economics • BESU157 BA Stage 3 Economics Studies • BESU039 BA Stage 3 Financial Economics • BESU039 BA Stage 4 Financial Economics

• BESU192 None Stage 1 Contemporary studies • BESU037 BA Stage 4 Economics • BESU038 BA Stage 3 Business Economics • BESU038 BA Stage 4 Business Economics




1. Compare and contrast a range of trade theory or trade policy issues with regard to their usefulness for understanding patterns of world trade or income distribution

2. Apply appropriate models and tools of economic analysis to examine policy issues of relevance to open interdependent economies.

3. Appraise relevant theories with regard to their implications for the role or conduct of monetary policy.

Indicative Content

Trade and Income Distribution

Classical, Neoclassical and Sector Specific models of trade: analysis of gains from trade and effects on productivity and income distribution. Application: International Trade and Income Inequality.

Trade and Industrialisation

Trade theory based on economies of scale and imperfection competition; external economies and comparative advantage; internal economies and intra-industry trade. Application: Trade and Dumping.

Trade Policy Issues

Welfare Analysis of Trade Barriers; Strategic Trade Policy; Income Distribution and Trade Protectionism: the role of special interest politics. Trade Liberalisation and the role of international negotiations.

Exchange rate determination

Exchange rate concepts and theories; international parity conditions; monetary models of exchange rate determination; implications for monetary policy and exchange rate overshooting. Application: international evidence on prices, money and exchange rates.

Fixed exchange rate systems

Symmetric (Gold Standard) and asymmetric (Bretton Woods) exchange rate systems: problems of adjustment and analysis of breakdowns; the liquidity (n-1) problem and solutions. Application: EMS, East Asian and Latin American currency crises.

Analysis of Monetary Integration

Optimum currency areas; economic analysis of monetary unions: inflation bias in monetary policy, credibility issues, central bank independence and accountability. Application: EMU and the design of the European Central Bank.











Total 200 hours



A 1500 word essay (5 credits) will summatively assess learning outcomes 1 and 2 or 2 and 3 as appropriate.

A three hour unseen examination (15 credits) will assess Learning Outcomes 1, 2 and 3.

All learning outcomes will be formatively assessed through a set of seminar exercises with feedback provided either in class or on the module web site.

Reassessment: coursework and/or examination as appropriate.


March 2010

3. MODULE RESOURCES



Required Equipment

None.


Module leader

Name Dr B Nissah,Ms R Wilde

Telephone number 658408, 658408




Common Exam(s)

None


None







Shortened title INT ECON




Development Economics

320ECN

1. MODULE SUMMARY

Aims and Summary

This module aims to provide students with an introduction to the main economic concepts and principles used in understanding economic problems and policy issues facing developing countries. The module also provides students with an understanding and evaluation of the comparative development experience and performance of major regions of the developing world and an assessment of the differential impact of development strategies.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 30




Pre-requisite Modules:(211ECN or 201ECN) or equivalent


None



Pass requirements


Special Features

None


None


• BESU037 BA Stage 3 Economics • BESU157 BA Stage 3 Economics Studies • BESU040 BA Stage 4 International Economics and Trade • BESU157 BA Stage 2 Economics Studies • BESU192 None Stage 1 Contemporary studies • BESU037 BA Stage 4 Economics • BESU038 BA Stage 3 Business Economics • BESU038 BA Stage 4 Business Economics • BESU040 BA Stage 3 International Economics and Trade




1. Appraise and evaluate a variety of economic concepts, techniques and literature of relevance to understanding developing economies.

2. Identify, apply and evaluate indictors for assessing comparative performance of countries including differentiation and evaluation of explanations for the unequal improvements in quality of life across different third world regions.

3. Comment critically on strengths and weaknesses of different development strategies available to developing countries.

4. Compare and contrast a variety of economic perspectives with regard to major development issues facing a developing economy.

Indicative Content

Development and Globalisation

Changing Meaning of economic development and the human development movement;shifts in development thinking;globalisation and development experience.

Theories of growth and development

Dual economy and structural change models; growth and redistribution; centre-periphery and dependency approaches; critiques of development theory.

Policies for domestic resource mobilisation

Financial sector dualism and role of financial sector in economic development; role of fiscal and monetary policies; Rationale for development planning and its failures; case study of Indian economy moving from planning to reform.

Foreign resources and economic development

Development roles of aid and foreign direct investment;technology transfer and the debate on appropriate technology; case studies based on role of food aid and technology transfer by a multinational corporation; case study & role of FDI in Chinese reforms and development

Trade and economic development; primary commodities and dependence

Global trading system and developing countries; Terms of trade and export earnings instability; policies towards primary commodities. Explaining relative success of manufacturing exporters; WTO and the trade policy agenda; Sustainable and ethical trade policies

Industrialisation strategies

ISI versus EOI; Case studies of comparative models of industrialisation in Latin America and East Asia. Contemporary industrialisation strategies in India and China.

Agriculture and economic development

Global hunger and the food problem; Agrarian reform and agrarian change; comparative studies in agrarian policy and rural development in Asian and African contexts. Food security and sustainable agriculture.

Structural Adjustment, Debt and Reform

Assessment of successes and failure of structural adjustment in Sub-Saharan Africa, Adjustment, HIPC Debt and poverty reduction strategies.

Poverty and Human Development in developing countries

Changing concept of poverty and human development, measurement issues, poverty alleviation, famine prevention and human security; case study based on Sen's Theory of Famines. Millennium Development Goals and their progress


The lecture will comprise formal delivery of relevant material but will be supplemented by videos and guest speakers as and when available. The varied seminars will predominantly consist of student-centred activities incorporating individual and group discussion of analysis and interpretation of country case study material, evaluation of economics literature and appropriate contemporary development issues.







Total 200 hours



Coursework:

· A 1,750 word individual essay (5 credits) will summatively assess learning outcomes 1, 2, 3, and 4. (Any student who makes a bona fide attempt at this assignment will have the opportunity to attempt a second equivalent assignment, with the better of the two marks counting as the module coursework mark.)

Exam:

· A three hour exam (15 credits) will summatively assess intended learning outcomes 1, 3 and 4.

Re-assessment:

Reassessment of the failed component: coursework and/or examination as appropriate.


March-2010

3. MODULE RESOURCES



Required Equipment

Access to Internet and Electronic Library


Module leader

Name Ms A Callan





Common Exam(s)

None


None







Shortened title DEV ECON

Date of approval by BoS 8-Feb-2006

Economics of Public Services

321ECN



1. MODULE SUMMARY

Aims and Summary

This module critically investigates the development of the market-based model of public services, using case studies drawn from different public services including education, healthcare and social housing. The module takes an international perspective, highlighting the experiences of the UK, other EU countries, and the US. To achieve its aims, the module introduces, applies and evaluates essential welfare economic concepts and principles. Topics covered include an assessment of the optimal scale and scope of the state, the impact of the new public management upon performance assessment, the re-emergence of quasi-markets within the NHS and the crisis in the state pension scheme.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 10




200ECN or equivalent

(210ECN has been replaced by 200ECN)

Pre-requisite Modules:(200ECN or 210ECN or 211ECN) and (210ECN or 200ECN) or equivalent


None



Pass requirements


Special Features

The use of games in economics to simulate, for instance, the optimal allocation of public goods.


• BESU037 BA Stage 3 Economics • BESU037 BA Stage 4 Economics


• BESU192 None Stage 1 Contemporary studies



On completion of this module the student should be able to:

1. Explain and evaluate a wide range of welfare economic concepts and principles when applied to specific public services.

2. Trace and critically examine the economic and political development of quasi-contracting within public services.

3. Assess the usefulness of different schools of thought within economics and other related disciplines to optimal decision making by public service economists and public services managers.

Indicative Content

- Essential Welfare Economics

Pareto optimality; efficiency and partial/general equilibrium analysis; social welfare functions and equity; theory of second best; compensation principles.

- Traditional Model of Public Service Provision

Scale, scope and structure of public services; analysis of market failure including the analysis of public goods and clubs and an evaluation of the schools within schools debate and scale diseconomies in secondary level education; the theory of government failure; the theory of public choice; structural deficit management & public services.

- The Market Alternative

Development of internal markets: critical assessment of Enthoven and Le Grand’s models of internal markets; the application of

quasi-market theory to secondary education; mergers in the UK university sector. Competition versus co-operation in delivering public services: evaluation of NHS reforms since the 2011 Health and Social Care Bill; the evaluation of the state pension planning crisis.

- Price Signalling in Public Services

Case for charging; theory and practice; consideration of payments; subsidy and voucher systems, e.g. vouchers for nursery education and Payment by Results in secondary care in the UK NHS; critique of different local government charging systems, e.g. an evaluation of council taxes. Local government charging, negative externalities and recycling.

- Commissioning, Contracts and Competition

Case for contracting; relevance and significance of agency theory and property rights analysis; critical evaluation of contracting systems; quality and risk assessment in contracting. The design and evaluation of contract monitoring systems; a comparative evaluation of community care contracting in the US and UK. The private finance initiative (PFI).

- Managing and Measuring Performance

Rationale for performance assessment, technical and conceptual difficulties re efficiency, equity, effectiveness, economy and accountability, role of ethics in performance assessment. Assessment of crime prevention strategies in UK inner cities.

- Impact of Competition: Service providers, service users and employees

Assessment of the impact upon managerialism, social entrepreneurship and innovation within public services. The analysis of organisational change including networking and decentralisation. Investigation of the service relationship, impact of competition on the employment environment, e.g. evaluating lean production and zero defects techniques in local government services.


The essential theoretical framework will be delivered via a combination of workshops and seminars. Economic games and experiments will be used where appropriate. A series of topical case studies will be used to demonstrate the relationship between economic theory and public policy decision making.







Total 200 hours



1. A 3 hour (closed book) exam will summatively assess intended learning outcomes 2 & 3 (15 credits).

2. A 1,750 word individual essay submitted mid-semester will summatively assess intended learning outcome 1 (5 credits).

Re-assessment: by retaking an equivalent piece of work relating to the failed component.

In addition to the summative assessments, there will be formative, mid and end of semester class based tests to evaluate progress on the module.



March 2010

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Dr K Gray







Common Exam(s)

None


None







Shortened title


Corporate Governance and Ethics

322ECN

1. MODULE SUMMARY

Aims and Summary

The aim of this module is to provide students with a thorough understanding of a number of key advanced topics of corporate governance theory including research and practice (incorporating associated reporting and regulation, the role of monitors, and issues of independence and ethics). It will also develop their ability to critically analyse the academic literature and current issues; and to integrate and synthesise topics in order to participate in current debates and to suggest potential insights for development.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 10




None


None



Pass requirements


Special Features

None


None


• BESU157 BA Stage 3 Economics Studies • BESU208 BSc Stage 3 Finance • BESU040 BA Stage 4 International Economics and Trade • BESU041 BA Stage 4 Accounting and Finance • BESU043 BA Stage 3 Business and Finance • BESU041 BA Stage 3 Accounting and Finance

• BESU042 BA Stage 3 Business and Accounting • BESU010 BA Stage 3 Accountancy • BESU043 BA Stage 4 Business and Finance • BESU158 BA Stage 3 Finance and Investment • BESU158 BA Stage 4 Finance and Investment • BESU192 None Stage 1 Contemporary studies • BESU999 None Stage 1 TARUC Finance and Investment • BESU010 BA Stage 4 Accountancy • BESU042 BA Stage 4 Business and Accounting • BESU151 BA Stage 3 Financial Studies • BESU038 BA Stage 3 Business Economics • BESU038 BA Stage 4 Business Economics • BESU040 BA Stage 3 International Economics and Trade




1. Critically assess the social, economic and legal context, rationale and drivers for corporate governance.

2. Analyse, comment and criticise the history and evolution of corporate governance frameworks.

3. Discuss the value and limitations of key academic research on module topics.

4. Integrate and synthesise between module topics to discuss the key issues in corporate governance theory, research and practice (including associated reporting, regulation and ethical issues).

Indicative Content

Alternative definitions / conceptualisations of governance. Different contexts, rationales and drivers for corporate governance. Alternative paradigms in governance research. Different mechanisms for corporate governance. The different elements and aspects of corporate disclosure. Alternative mechanisms for executive compensation.

The Development of corporate governance frameworks and requirements. The place of corporate governance in the regulatory framework. Governance Codes and Practices. Alternative international corporate governance frameworks. Roles of the different corporate “actors”. The importance of different mechanisms and control models of corporate governance.

The cost and value-relevance of corporate governance. Evolution of corporate governance frameworks in comparison to evolution of financial accounting and reporting requirements. The development

of the corporate social responsibility agenda and the increasing emphasis on ethics as a response to governance problems.

The costs of compliance and of non-compliance. Adherence to requirements of the corporate governance framework. Executive compensation. The involvement of Board Committees and Audit Committees. Issues of independence of gatekeepers/monitors.

Corporate scandals and effects on governance rules and regulations


Lectures: Basic concepts / issues will be outlined

Seminars: Problems discussed and case studies analysed.








Total 200 hours



A 1,750 word individual essay (5 credits) will assess intended Learning outcome 1.

A three hours unseen examination (15 credits) will assess Learning Outcomes 2, 3, and 4.

Re-assessment: Examination and/or coursework as appropriate


March 2010

3. MODULE RESOURCES





Required Equipment

None


Module leader

Name Dr F Meier





Common Exam(s)

None


None







Shortened title CORP GOV


Investment Analysis

350FIN

1. MODULE SUMMARY

Aims and Summary

This module provides students with an understanding of: the characteristics of, and methods used in the valuation of, bond and equity financial investments. The teaching of the model will be focused around the use of practical problem solving exercises using, where possible, real-world financial data.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




250FIN or 251FIN or equivalentPre-requisite Modules:(250FIN or 251FIN) or equivalent


None



Pass requirements


Special Features

None


• BESU208 BSc Stage 3 Finance • BESU039 BA Stage 3 Financial Economics • BESU043 BA Stage 3 Business and Finance • BESU039 BA Stage 4 Financial Economics • BESU043 BA Stage 4 Business and Finance

• BESU158 BA Stage 3 Finance and Investment


• BESU157 BA Stage 3 Economics Studies • ECU121 BSc Stage 4 Business Mathematics • BESU041 BA Stage 4 Accounting and Finance • BESU041 BA Stage 3 Accounting and Finance • BESU010 BA Stage 3 Accountancy • BESU158 BA Stage 4 Finance and Investment • BESU192 None Stage 1 Contemporary studies • ECU121 BSc Stage 3 Business Mathematics • BESU999 None Stage 1 TARUC Finance and Investment • BESU010 BA Stage 4 Accountancy • BESU151 BA Stage 3 Financial Studies • ECU123 BSc Stage 3 Mathematical Studies




1. Apply quantitative and qualitative fundamental analysis, and where appropriate technical analysis, to determine the intrinsic values of bonds and shares,

2. Evaluate alternative bond and share investment strategies,

3. Analyse and interpret alternative methodologies used in the valuation of bonds and shares.

Indicative Content

• Bond analysis: the bond market, bond valuation and pricing, alternative yield measures, bond convexity and bond duration.

• Passive and active bond investment strategies: immunisation, laddering, horizon matching and riding the yield curve.

• Term structure of interest rates. • Share valuation: dividend discount model and relative valuation

techniques. • Share investment strategies: value, growth, income and

contrarian investment strategies. • Volatility and risk analysis: risk measurement, CAPM and

extensions to the basic model. • Technical and fundamental analysis and the Efficient Markets

Hypothesis.


Through a series of lectures and problem-solving-based seminars.







Total 200 hours



• 1 class-based coursework phase test (5 credits, learning outcomes 1,2, and 3).

• 1 end-of-year unseen 3 hour examination (15 credits, learning outcomes 1,2 and 3).

All the learning outcomes will be formatively assessed via sets of practice seminar problems on each topic covered. Students will be given the option of taking 2 class-based phase tests with the highest mark being used for the coursework grade.

The examination will consist of two sections; these will relate respectively to bonds and shares. A minimum of one question much be answered from each section plus one other should be answered from either of the two sections.

Re-assessment: Coursework and/or examination equivalent to the failed component(s).


March 2010

3. MODULE RESOURCES



Required Equipment

None


Module leader



Name Dr T Rodgers





Common Exam(s)

None


None







Shortened title INVEST ANAL


Corporate Financial Management

357FIN

1. MODULE SUMMARY

Aims and Summary

The overall aim of this module is to provide students with a deeper understanding of the scope and nature of the financial management issues that exist within modern corporations.

The module covers the major strands of financial management theory such as working capital management, financing of the firm, risk management, and seeks to apply the theory to real world applications.

Subject to accreditation, the module will enable students to gain exemptions from some professional accounting qualification papers.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 30




250FIN or equivalent

Pre-requisite Modules:(280ACC or 250FIN) and (281ACC or 250FIN) or equivalent


None



Pass requirements


Special Features

None


• BESU041 BA Stage 4 Accounting and Finance • BESU041 BA Stage 3 Accounting and Finance


• BESU157 BA Stage 3 Economics Studies • BESU208 BSc Stage 3 Finance • BESU043 BA Stage 3 Business and Finance • BESU042 BA Stage 3 Business and Accounting • BESU010 BA Stage 3 Accountancy • BESU043 BA Stage 4 Business and Finance • BESU158 BA Stage 3 Finance and Investment • BESU158 BA Stage 4 Finance and Investment • BESU192 None Stage 1 Contemporary studies • BESU010 BA Stage 4 Accountancy • BESU042 BA Stage 4 Business and Accounting • BESU151 BA Stage 3 Financial Studies




1. Apply financial theory to advise corporations on the efficient utilisation of company assets.

2. Identify and assess the appropriateness of both long and short term sources of finance.

3. Critically assess the risk management techniques employed by modern corporations

4. Use their enhanced digital literacy skills, gained from working with a variety of financial databases and software

Indicative Content

Financial Planning and Strategy

· Assessing the financial and non-financial aims and objectives of the firm, and the process of financial management

· Creating shareholder value

· Dividend policy

Sources of Finance

· Leasing and loan agreements

· Raising equity finance

Islamic Finance

· The major difference between Islamic finance and the other forms of business finance

Risk Management

· The nature and types of risk and approaches to risk management

· Hedging techniques including the use of derivatives

Management of Working Capital

· Managing working capital including, inventories, accounts receivables, accounts payables and cash


Lectures will introduce new material and will expand areas of financial theory but much of the learning will be done through problem-based seminar work as well as independent study.







Total 200 hours



· A phase test (5 credits) will assess learning outcomes 1,2 and 4.

· A 3-hour exam (15 credits) will assess learning outcomes 1-4.

Regular immediate and dialogic feedback / feed-forward will be provided to help students prepare for summative assessments. Formative feedback on the summative coursework will also stress 'feed-forward' for later assessments.


5-Jun-2009

3. MODULE RESOURCES



Required Equipment

Calculator


Module leader

Name Mr G Hulene





Common Exam(s)

• 357CBS1


None









Shortened title FIN MGT

Date of approval by BoS 9-May-2012

Audit and Internal Control

382ACC

1. MODULE SUMMARY

Aims and Summary

The module builds on and requires knowledge and understanding of financial accounting and reporting developed by 280ACC Financial Reporting and Analysis or equivalent. Its aim, for different business entities operating in an international environment, is to develop understanding and critical evaluation of:

Internal control risks and organisational responses, and

Audit processes and their application in the context of the external regulatory framework.



Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 10





Pre-requisite Modules:280ACC or equivalent


None



Pass requirements


Special Features

None


None


• BESU157 BA Stage 3 Economics Studies • BESU041 BA Stage 4 Accounting and Finance • BESU041 BA Stage 3 Accounting and Finance • BESU042 BA Stage 3 Business and Accounting • BESU010 BA Stage 3 Accountancy • BESU192 None Stage 1 Contemporary studies • BESU010 BA Stage 4 Accountancy • BESU042 BA Stage 4 Business and Accounting • BESU151 BA Stage 3 Financial Studies




1. Critically evaluate the nature, purpose, scope and governance of auditing and internal control processes within different business entities.

2. Understand and evaluate accounting and internal control risks and systems.

3. Understand and critically review audit risk, audit procedures, audit evidence.

4. Design appropriate procedures for audit assignments.

Indicative Content

The audit framework

• Accountability, stewardship and agency • The development and changing nature of audit • Statutory audits and their relationship to the financial reporting

framework • Responsibility for fraud and error • Professional ethics and codes of conduct • The audit expectations gap • Corporate governance and the role of the auditor

Regulation of auditing

• International standards on auditing and their relationship with national standards

• Regulation of auditors • Accounting systems and internal control • Inherent weaknesses • Transaction cycles (revenue, purchases, payroll, inventory,

capital expenditure) • Objectives and evaluation of internal control systems • Use and evaluation of internal control systems by auditors

Audit risk

• The objective of the external audit • The relevance of stakeholder dialogue • Planning and analytical procedures • Assessment of audit risk • Materiality and tolerable error • Audit procedures and evidence • Analytical procedures • Substantive procedures - Balance and transaction testing for

assets, liabilities, revenue and expenses • Sampling techniques • Computer-assisted audit techniques • Management representations • Overall review of evidence obtained

The audit report

• Clean audit reports

Modified audit reports


The module will include formal lectures, seminars, use of case studies and group work. External speakers will be invited as appropriate to provide practical insight.







Total 200 hours



• One individual coursework of approximately 1,750 words based on a case study (5 credits), assessing elements of learning outcomes 2 and 3.


• A three-hour end-of-year examination (15 credits), assessing learning outcomes 1 and 4 and other elements of learning outcomes 2 and 3.

• Re-assessment is by coursework and/or examination as appropriate.


14 February 2006

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Dr S Yekini







Common Exam(s)

None


None







Shortened title AUDIT & INT CONT


Statistical Analysis for Accountancy and Finance

102ACC

1. MODULE SUMMARY

Aims and Summary

This module aims to provide students with transferable skills required for subsequent accounting and finance modules. In addition it provides the statistics based skills required to obtain exemptions from professional qualifications. The module will give the student a grounding in two principal areas:

• ICT skills: basic I.T. based numeracy skills and also accounting data-based research skills using appropriate databases resources and the World Wide Web.

• Statistics - an introduction to statistical methods relevant to accounting and finance including: descriptive statistics, statistical inference, regression modelling and time series analysis and forecasting.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




None


None



Pass requirements


Special Features

None


• BESU208 BSc Stage 1 Finance • BESU158 BA Stage 1 Finance and Investment • BESU010 BA Stage 1 Accountancy • BESU043 BA Stage 1 Business and Finance • BESU041 BA Stage 1 Accounting and Finance


• BESU151 BA Stage 2 Financial Studies • BESU151 BA Stage 1 Financial Studies




1. Demonstrate use of spreadsheets and statistics packages in the production of reports that include tables and charts.

2. Demonstrate the ability to use databases and search for data on the web.

3. Show an understanding of descriptive and inferential statistics and be able to apply these techniques to the analysis and presentation of data. These will include: summarising and analysing data, probability and statistical distributions, hypothesis testing, forecasting and regression modelling and analysis.

4. To develop a variety of transferable skills, such as: working as a member of a group and developing dialogical skills, communication, numeracy and I.T skills and writing reports. These skills will be integrated with other modules; specifically most modules in the programme require students to use data related skills.

Indicative Content

• Researching economic and accounting data using databases and the World Wide Web.

• Summarising and describing data.

This will include: the application of tabular and graphical techniques and estimation of measures of: location, dispersion and distribution.

• Probability, statistical distributions and hypothesis testing

Including: an introduction to probability, statistical distributions (including: binomial, normal, t-distribution, F-distribution and Chi2 distribution) and hypothesis testing.

• Correlation, time series forecasting and regression

Including: The calculation of the correlation coefficient between variables, the decomposition of a time series using additive and multiplicative models, an examination of the meaning of R2, the use of regression and the analysis of its results.


This will be through the use of interactive lectures and computer workshops. The interactive lectures will provide the student with a theoretical overview of the relevant subjects and will include a series of statistical exercises. Computer workshops, which are an integral part of the course, reinforce learning through application through a series of exercises using real world data. There is extensive

use of Moodle providing additional interactive web based learning materials for students to use both during and outside of formal class time. Student activity and time spent on each activity comprises:






Total 200 hours


The summative assessment of the intended learning outcomes will be as follows:

• 1 group-based survey piece of work. (5 credits/25% of the module mark). This is inquiry-based learning.

• 1 1hr phase test (5 credits/25% of the module mark) • 1 two-hour closed book examination (10 credits/50% of the

module mark).

In order to undertake the Coursework it will be ensured that students comply with university ethics requirements before any survey work is undertaken. Students will also be prepared in respect to how to work in groups in relation to the division of the work between them. The marks will be allocated to reflect their individual differential contributions in a transparent manner.



06/03/2015

3. MODULE RESOURCES



Required Equipment

None




Module leader

Name Dr G Bova,Miss D Vladulescu




2.00 hours in May

Common Exam(s)

None


None







Shortened title


Introduction to Statistics for Economics

113ECN

1. MODULE SUMMARY

Aims and Summary

This module aims to provide students with subject specific econometric skills and transferable skills required for both subsequent economics modules and the student's future career. For example, students will be able to use the data sources examined in other modules such as Current

Issues and Introductory Economics 1 and 2. The module will give the student a grounding in two principal areas:

• ICT skills: basic I.T. based numeracy skills with Microsoft Excel and economic and accounting data-based research skills using appropriate databases resources and the World Wide Web.

• Statistical inference and Introduction to Econometrics - an introduction to statistical methods relevant to economics including: descriptive statistics, statistical inference, econometric modelling and time series analysis and forecasting.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




None


None



Pass requirements


Special Features

None


• BESU037 BA Stage 1 Economics • BESU038 BA Stage 1 Business Economics • BESU040 BA Stage 1 International Economics and Trade • BESU039 BA Stage 1 Financial Economics


• BESU157 BA Stage 1 Economics Studies • BESU157 BA Stage 2 Economics Studies • BESU151 BA Stage 2 Financial Studies




1. Demonstrate use of Microsoft Excel in the production of reports that include tables and charts.

2. Demonstrate the ability to use databases and search for data on the web.

3. Show an understanding of descriptive and inferential statistics and be able to apply these techniques to the analysis and presentation of data. These will include: summarising and analysing data, probability and statistical distributions, hypothesis testing, econometric analysis.

4. To develop a variety of transferable skills, such as: working as a member of a group and developing dialogical skills, communication, numeracy and I.T skills and writing reports. These skills will be integrated with other modules; specifically most modules in the programme require students to use data related skills.

Indicative Content

• Researching economic and accounting data using databases and the World Wide Web.

• Summarising and describing data.

This will include: the application of tabular and graphical techniques and estimation of measures of: location, dispersion and distribution.

• Probability, statistical distributions and hypothesis testing

Including: an introduction to probability, statistical distributions (including: binomial, normal, t-distribution, F-distribution and Chi2 distribution) and hypothesis testing.

• Correlation and econometrics

Including: The calculation of the correlation coefficient between variables, the decomposition of a time series introduction to multiple regression and econometrics.


This will be through the use of interactive lectures and computer workshops. The interactive lectures will provide the student with a theoretical overview of the relevant subjects and will include a series of statistical exercises. Computer workshops, which are an integral part of the course, reinforce learning through application through a series of exercises using real world data. There is extensive use of Moodle providing additional interactive web based learning materials for students to use both during and outside of formal class time.







Total 200 hours


All the learning outcomes will be formatively assessed in the workshop programme via a series of work sheets and case studies. On-line tutorials will also be made. Regular, immediate and dialogic feedback will be provided during these activities which will help students prepare for the summative assessments.

The summative assessment of the intended learning outcomes will be as follows:

• In-class test on the fundamentals of statistical concepts (5 credits/25% of the module mark),

• 1 group-based coursework based on the analysis of economic data using computer software. (5 credits/25% of the module mark). This is inquiry-based learning.

• 1 two-hour closed book examination (10 credits/50% of the module mark).

In order to undertake Coursework 2 it will be ensured that students comply with university ethics requirements before any survey work is undertaken. Students will also be prepared in respect to how to work in groups in relation to the division of the work between them. The marks will be allocated to reflect their individual differential contributions in a transparent manner.


Re-assessment: coursework component(s) and/or examination as appropriate.


12/03/2015

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Dr R Riegler




2.00 hours in May

Common Exam(s)

None


None









Shortened title


Introduction to Business Economics

116ECN

1. MODULE SUMMARY

Aims and Summary

This module aims to introduce students to the environment in which a business organisation operates and acquire knowledge of basic economic concepts that will be applicable to a career in accountancy

The module considers the market system and the competitive environment; the role of government; organisational features of business, and basic principles of effective management; the national and international economic environment


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 15




None


Modules: 100ECN, 101ECN, 117ECN, 118ECN



Pass requirements


Special Features

This module is designed to equip students with fundamental economic concepts that will be of relevance in a future career as an accounting / finance professional.


• BESU208 BSc Stage 1 Finance • BESU010 BA Stage 1 Accountancy • BESU158 BA Stage 1 Finance and Investment • BESU043 BA Stage 1 Business and Finance • BESU041 BA Stage 1 Accounting and Finance


• BESU151 BA Stage 2 Financial Studies • BESU151 BA Stage 1 Financial Studies




1. Demonstrate an understanding of the market system and the competitive environment within which a business operates, and the role of government.

2. Demonstrate an understanding of the macroeconomic environment within which a business operates, and the role of government.

3. Apply economic theory to business situations.

4. Develop an understanding of the organisational aspects of businesses and the basic principles of management.

Indicative Content

Introduction to the economic environment of business

· The business environment and structure of economic activity

Consumers and firms in the market place

· Analysis of supply and demand, elasticity and their relevance to the business organisation

· Markets in action

· Costs of production faced by a business organisation

The competitive environment

· Competitive, monopolistic and oligopolistic markets

· Competition policy

· Public sector.

· Regulation

· Externalities and public policy

Business organisation

· Business firms: legal, economic, organisational features; entrepreneurship and profit

· Business functions including production, finance, and marketing.

· Basic principles of management

The national environment

· Identification of the main macroeconomic variables; inflation, unemployment, economic growth, balance of payments

· National income; measurement and determination, circular flow of income and business

· The fiscal environment: taxation, public spending, the budget

· The monetary environment: inflation and monetary policy; the financial system

· Supply side policies v demand management

· Macroeconomic stabilisation, aggregate demand and supply

International environment

· Pattern of international trade, trade policy, globalisation, regional blocs

· International factor movements & role of multinationals

· Exchange rates and business

· Balance of payments


There will be a series of interactive lectures to introduce a topic, with students undertaking reading around the lecture material in order to cover sufficient material to complete the assessment. The emphasis is on students being responsible for working outside lectures and workshops. Workshops will be based on problem solving exercises, case studies.







Total 200 hours



Coursework - will consist of one 45 minute test (5 credits) and one 2000 word group project (5 credits) which will summatively assess intended learning outcomes 1, 2, 3 and 4.

Exam - 2 hours (10 credits) will summatively assess intended learning outcomes 1, 2, 3 and 4.


All the learning outcomes will be formatively assessed in the workshop programme via a series of work sheets, case studies, interactive games/experiments and marking exercises. Regular, immediate and dialogic feedback/feedforward will be provided during these activities which will help students prepare for the summative assessments. Formative feedback on the summative coursework will also stress the ‘feedforward’ for later assessments”

The method for the allocation of marks for group work will be transparent. There will be a re-allocation of marks to reflect a differential contribution if necessary.

Re-assessment: coursework component(s) and/or examination as appropriate, subject to a maximum module mark of 40%.


6 January 2006

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Dr W Song




2.00 hours in May

Common Exam(s)

None


None







Shortened title INTRO TO BUS ECN


Accounting for Business Managers

185ACC



1. MODULE SUMMARY

Aims and Summary

This module is designed to introduce students to the language, concepts and tools commonly used in financial and management accounting.

In the first half of the module students will be expected to interpret a set of financial accounts including income statements, statement of financial position and cash flow. Using these they will be expected to make a comparative evaluation of the performance of the firm.

In the second half of the module students will be introduced to managerial accounting concepts and will be expected to apply them in a decision making context


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




None.


Modules: 181ACC, 286ACC



Pass requirements


Special Features


• BESU030 BA Stage 1 Business and Marketing • BESU050 BA Stage 1 Business and Human Resource

Management • BESU168 BA Stage 1 Marketing


• BESU151 BA Stage 2 Financial Studies




1. Apply numeracy skills and qualitative judgment to aid financial decision making.

2. Derive and make use of financial information to evaluate the effectiveness of company performance and identify which activities contribute to the overall performance

3. Apply evaluate and understand management accounting concepts with objectives in a business environment.

Indicative Content

Basic accounting concepts

Distinction between management and financial accounting and apply in a business context

Understand interpret and apply management and financial concepts in the business environment and decision making

Introduction to financial accounting

• The structure, format and concepts of the basic financial statements: Income Statements, Statement of Financial Position, Cash flow

• Interpretation of financial statements

Introduction to management accounting

• cost classification for decision making purposes

• cost-volume profit analysis

• overhead analysis

• investment appraisal techniques

• understanding and applying management accounting concepts to budgeting and decision making


Interactive Lectures and Workshops

In addition to lectures, workshops will incorporate a range of student based learning methods, including individual and group case studies and discussions.

Lecture notes will also be made available to students studying the module.

Additional revision workshops will be made available.

In order to succeed in this module students will be expected to spend time preparing for each seminar Please note if you are studying on a January start condensed module, this module will be taught over 11 weeks rather than 16. Student activity and time spent on each activity comprises:






Total 200 hours



Coursework – Individual assignment requiring creation of financial statements in relation to a case study (business) and applying the financial data to the case study taking into account wider marketing and economic factors - will summatively assess intended learning outcomes 2 and 3. (10 credits)


A 2-hour exam (10 credits) will summatively assess learning outcomes 1, 2 and 3.

Re-assessment: coursework reassessment to equivalent individual written work. Examination as appropriate


12-Jun-2008

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Mr K Robinson,Dr T Wang




2.00 hours in May and 2.00 hours in August

Common Exam(s)

None


None









Shortened title

Date of approval by BoS 14-Mar-2012

Intermediate Economics 2

201ECN

1. MODULE SUMMARY

Aims and Summary

This module aims to deepen and widen students’ understanding by building upon the foundations acquired from the introductory economics modules (add codes later). It provides a thorough grounding in intermediate and more advanced principles of microeconomics and macroeconomics. The module provides students with an appreciation of the potential applications of the analytical techniques, their limitations and critiques. In addition it also introduces students to some of the controversies between alternative theoretical approaches. It provides the underpinning for subsequent study in the degree courses in economics and it is also one of the key elements in the professional training of an economist.

Main topics covered in the module will include the impact of asymmetric information on efficiency, strategic choice, general equilibrium, macroeconomic models, inflation, unemployment, and open economy macroeconomics.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




Introductory Economics 1 (100ECN) and

Introductory Economics 2 (101ECN)



None



Pass requirements


Special Features

None







1. Demonstrate an understanding of the intermediate principles of microeconomics and macroeconomics

2. Apply appropriate theoretical models to analyse economic questions and policy issues

3. Compare and contrast alternative models of economic behaviour 4. Appraise the relative merits of different economic policy options 5. Demonstrate their ability to communicate logical arguments

Indicative Content

Asymmetric Information

Adverse selection; hidden characteristics; the market for lemons; quality choice and informed customers; signalling; pooling and separating equilibrium; moral hazard, principal-agent theory, cost of effort, variable pay

Market Power, Market Structure and Strategic Choice

Measuring monopoly power; the learner index; welfare effects of monopoly; regulating monopolies; oligopoly; residual demand curve; isoprofit curves; reaction functions; Cournot-Nash equilibrium; Bertrand model; Bertrand equilibrium with identical and differentiated products; Stackelberg’s model; Evidence from lab. Experiments; sophisticated leader equilibrium and disequilibrium; price leadership models; game theory; strategic moves; threats; commitments and credibility; strategic value of limiting your options; mixed strategies, sub-game perfect, backwards induction

General Equilibrium and Welfare

Feedback and spillover effects between markets; Fundamental principles and normative foundations; efficiency and equity; the first and second theorem of welfare economics; Utility possibilities frontier; alternative interpretations of welfare; Pareto Optimality analysis; applicability and shortcomings; The Kaldor criterion; Scitovsky double criterion; social welfare functions and social decision making systems; Median voter theorem; interest groups and rent seeking; introduction to cost benefit analysis and the Green Book

Inflation

Demand-pull inflation, Cost-push inflation, Phillips Curve, Natural rate of inflation, Time inconsistency problem, Cost of inflation.

The labour market and aggregate supply

Demand for Labour, Supply of Labour, Aggregate Supply, Voluntary unemployment, Natural rate of unemployment, Wage rigidity, The Classical view of AS, Keynesian view of AS, Involuntary unemployment.

Open economy

Fiscal Policy; Monetary Policy;Flexible and Fixed Exchange Rate; Balance of Payments; Mundell-Fleming Model.

Macroeconomic policy debates

Stabilisation policy; government debt and fiscal policy; global macroeconomic issues


Lectures introduce students to main concepts, principles and theories.

Workshops will include a range of techniques which are designed to encourage lively and interactive learning, drawing on relevant research. Activities will include classroom games/experiments, collaborative problem solving exercises and case studies based on relevant academic journal articles. These activities will create a more experiential environment and promote inquiry-led learning. They are also aligned with the methods of assessment and learning outcomes for the modules.

Students will be expected to read relevant chapters in textbooks and recommended journal articles and manage their self directed study time effectively in order to prepare for the workshops and assessments.







Total 200 hours


One 50 minute in class test (5 credits) will summatively assess intending learning outcome 1, 2 and 5.

One 1500 word individual essay (5 credits) will summatively assess learning outcomes 3, 4 and 5

A two hour closed book examination (10 credits) will summatively assess learning outcomes 1, 2, 3, 4 and 5.

All the learning outcomes will be formatively assessed in the workshop programme via a series of work sheets, case studies, interactive games/experiments and marking exercises. Regular, immediate and dialogic feedback/feedforward will be provided during these activities which will help students prepare for the summative assessments. Formative feedback on the summative coursework will also stress the ‘feedforward’ for later assessments.


Re-assessment: coursework component(s) and/or examination as appropriate


3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Ms R Wilde




2.00 hours in May

Common Exam(s)

None


None









Shortened title


Introduction to Econometrics

212ECN

1. MODULE SUMMARY

Aims and Summary

The aim of this module is to provide students with an understanding of statistical techniques used by the professional economist. The module will expose students to different statistical techniques; allow them to read and understand published empirical work and formulate and test their own research hypotheses. This is integrating module for Intermediate Economics I and II.

The module builds on the statistical techniques and computing skills developed in 113ECN Introduction to Statistics for Economics. It provides a basis for those students wishing to take 316ECN Applied Econometrics.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




Pre-requisite Modules: 113ECN or equivalent



None



Pass requirements


Special Features

None




• BESU157 BA Stage 2 Economics Studies • BESU208 BSc Stage 2 Finance • BESU192 None Stage 1 Contemporary studies



The intended learning outcomes are that on completion of this module students should be able to:

1. Demonstrate an understanding of concepts and tools relevant to econometrics

2. Apply classical econometrics methodology

3. Interpret and analyse statistical results

Indicative Content

What is econometrics?

Collecting and analysing data: data types, mean, standard deviation, variance, covariance, correlation, skewness, kurtosis

The classical econometric methodology: statistical association versus causation, spurious regression, ordinary least squares, general to specific and specific to general approach

Estimating simple and multiple regression models: Ordinary least squares

Hypothesis testing: null and alternative hypotheses, critical values, calculated values, making decisions about null hypotheses

Multicollinearity: What is it? Why is it a problem? How to detect it? How to deal with it?

An introduction to autoregressive modelling techniques: AR, MA, ARMA models. Autocorrelation function (ACF) and partial autocorrelation function (PACF)

Serial Correlation: What is it? Why is it a problem? How to detect it? How to deal with it?

Heteroskedasticity: What is it? Why is it a problem? How to detect it? How to deal with it?

Choosing appropriate model specifications: Linear, double-log, semilog forms

Dummy variables: What are they? How can we use them?

Dummy dependent variable techniques: Limited probability model. Problems with linear probability model. Logit and probit models.

Limited dependent variable analysis using the probit and logit models


Lectures will provide students with an overview of the major issues and provide guidance on the differing analytical tools of analysis and skills available to economists.

In the workshops students will work through a series of structured activities. The elements of the workshops will cover a series of applied topics which will address issues covered in the various named economics awards.


Guided 82 hours (41%) Lecture 24 hours (12%) Self guided 65 hours (33%) Seminar 24 hours (12%) Tutorial 5 hours (3%)







Total 200 hours



One piece of coursework (5 credits) will assess Learning Outcomes 1, 2 and 3. This assignment will be based on lecture materials and workshop activities in which the student estimates and interprets specified economic relationships.

A three-hour examination (15 credits) will assess Learning Outcomes 1, 2 and 3.


Re-assessment: e.g. coursework component(s) and/or examination as appropriate.

Reassessment of the coursework elements will require the students to attend the University during the resit period to work on equivalent set activities.


24/02/2014

3. MODULE RESOURCES



Required Equipment

None


Module leader



Name Dr J Niklewski




3.00 hours in May

Common Exam(s)

None


None







Shortened title


Financial Services

251FIN

1. MODULE SUMMARY

Aims and Summary

This module intends to provide students with an understanding of the functions and operation of retail financial services in the UK. It aims to provide an understanding of the main investment and borrowing alternatives available to individuals. It provides a background to financial advice at the personal level by providing a knowledge of products, regulation, and the process of decision-making.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




None


None



Pass requirements


Special Features

None


• BESU043 BA Stage 2 Business and Finance • BESU158 BA Stage 2 Finance and Investment


• BESU069 BA Stage 2 Business Administration • BESU157 BA Stage 2 Economics Studies • BESU199 BA Stage 2 Business Administration (Part-Time) • BESU208 BSc Stage 2 Finance • BESU151 BA Stage 2 Financial Studies

• BESU041 BA Stage 2 Accounting and Finance • BESU192 None Stage 1 Contemporary studies • BESU151 BA Stage 3 Financial Studies




1. Discuss the role and functioning of financial markets.

2. Apply appropriate principles to investment decisions.

3. Apply appropriate principles to financing decisions.

Indicative Content

1. Banks, Building Societies, and money markets. Financial intermediation. The creation of money. The Bank of England. Money market instruments: deposits, loans, certificates of deposit, bills, commercial paper. Retail and wholesale banking.

2. Mortgages. The operation of repayment and endowment mortgages. Characteristics of repayment mortgages and the effects of changes in interest rates and terms to maturity. Alternative interest rate structures (variable, fixed, capped, discounted). The implications of the term structure of interest rates and of embedded options. The mortgage and endowment equations. The Miles Report on the UK mortgage industry.

3. Stock markets. Functions of stock exchanges. Types of stock exchange. Globalisation of stock markets. Primary and secondary markets. Market depth and breadth. Order-driven and quote-driven systems. Types of share. Issuing shares.

4. Bonds. Characteristics of gilts. Types of gilt. Issuing gilts. Bond prices and interest rates. Corporate bonds. Credit rating. International bonds. Alternative forms of coupon payment.

5. Institutional investments. Unit trusts, OEICs, investment trusts, investment bonds. Individual Savings Accounts. Life assurance, endowment policies, whole-of-life policies. With-profits, without-profits, and unit-linked funds. Actively-managed versus index-tracker funds. Effects of fund charges and taxation on returns. Pound cost averaging. The Sandler Report on the UK savings industry.

6. Pensions. Defined benefit versus defined contribution. Occupational pensions, Additional Voluntary Contributions, personal pensions, stakeholder pensions. Conventional annuities; the annuity equation. Alternative forms of annuity. The demographic timebomb.

7. Personal financial decisions. Capital risk and income risk: market risk, specific risk, interest rate risk, default risk, credit risk, liquidity risk, inflation risk, exchange rate risk, event risk, political risk. Investor circumstances: attitudes, investment horizons, existing assets, liabilities, income, taxation. Risk management and insurance. Behavioural finance: the psychology of investing and risk perception.

8. Regulation of financial services. Asymmetric information. Costs of monitoring and the free-rider problem. Delegated monitoring. Akerlof’s lemons and investor confidence. Institutional capture. Moral hazard. Self-regulation versus statutory regulation. Methods of regulation: capital requirements, conduct-of-business rules, separation of assets, disclosure requirements, auditing, investor compensation. The Financial Services Authority.

.


Lectures and seminars







Total 200 hours



Learning outcome 1 will be assessed by a 1500 word piece of coursework (5 credits). Any student who makes a bona fide attempt at this assignment will have the opportunity to attempt a second equivalent assignment, with the better of the two marks counting as the module coursework mark.

Learning outcomes 1, 2, and 3 will be assessed by an end-of-session 3 hours unseen examination (15 credits)




February 2010

3. MODULE RESOURCES



Required Equipment



Module leader

Name Mrs A Gill




3.00 hours in May

Common Exam(s)

None


None









Shortened title FIN SERV


Financial Reporting and Analysis

280ACC

1. MODULE SUMMARY

Aims and Summary

This module builds on the financial accounting techniques studied in modules100ACC Accounting Fundamentals A and 101ACC Accounting Fundamentals B.[A1] The module focuses primarily on the preparation of published financial statements by public limited companies. It aims to introduce students to International Financial Reporting Standards (IFRS’s). Enabling them to develop the knowledge and skills necessary to understand and apply a number of IFRS’s and accounting theory in the preparation of the published financial statements of entities, including a simple group. Students will also develop the skills necessary to critically analyse and interpret these financial statements and become aware of their limitations.

The module is the intermediate module in the sequence 100ACC Accounting Fundamentals A and 101ACC Accounting Fundamentals B[A2] , 280ACC Financial Reporting and Analysis, and 380ACC International Corporate Reporting.

Subject to accreditation, the module will enable students to gain exemption from some professional accounting qualification papers.

[A1]Replaced 180ACC with codes for new level 1 modules.



Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




Pre-requisite Modules: 100ACC and 101ACC [A1] or equivalent


Pre-requisite Modules:(180ACC or 101ACC) or equivalent





Pass requirements


Special Features

None


• BESU010 BA Stage 2 Accountancy • BESU041 BA Stage 2 Accounting and Finance • BESU042 BA Stage 2 Business and Accounting


• BESU157 BA Stage 2 Economics Studies • BESU208 BSc Stage 2 Finance • BESU151 BA Stage 2 Financial Studies • BESU192 None Stage 1 Contemporary studies • ECU123 BSc Stage 2 Mathematical Studies • BESU151 BA Stage 3 Financial Studies




1. Demonstrate an understanding of the conceptual and regulatory framework for financial reporting.

2. Apply a range of financial reporting techniques to analyse and interpret financial statements and use these to critically evaluate company performance.

3. Prepare and present financial statements for publication in accordance with the requirements of International Financial Reporting Standards and other relevant legislation (eg: Companies Act 2006). In doing so students will apply the main provisions of key International Financial Reporting Standards to transactions and items in the financial statements.

4. Prepare a consolidated statement of financial position for a company with one subsidiary in accordance with the requirements of International Financial Reporting Standards.

Indicative Content

The context and purpose of financial reporting

• Reasons for and objectives of published financial statements • Underlying and fundamental accounting concepts • The regulatory framework • The IASB’s Framework for the Preparation and Presentation of

Financial Statements • Published financial statements and related reports • Users of financial statements and their needs

Preparation of limited company financial statements for publication

• Income statement • Statement of changes in equity • Statement of financial position • Statement of cash flows • Share capital and capital maintenance

International Financial Reporting Standards

• Presentation of financial statements • Property, plant and equipment • Intangible assets • Inventories • Government grants • Leases

Analysis and interpretation of financial statements

• Limitations of financial statements • Ratio analysis • Horizontal, vertical and trend analysis

Business Combinations

• Preparation of statement of financial position for a simple group comprising a parent and one subsidiary

• Calculation of goodwill, non-controlling interest, consolidated retained earnings

• Accounting for more advanced adjustments including impairment of goodwill, fair value, elimination of intra group balances and unrealised profit


A variety of teaching and learning methods will be used including formal lectures, seminars and group discussion. Much of the work will be based around recently published financial statements of companies whose shares are traded on the London Stock Exchange.

Key concepts and introductions to particular techniques will be given through lectures. Seminars are designed to enhance students understanding through practical exercises and discussion questions that require students to apply their knowledge and demonstrate an understanding of these concepts and techniques. In addition students will be required to carry out directed research in preparation for both coursework assessment and seminars.


Activity Type Time Spent Proportion Demonstration External Visits Fieldwork Guided 82 hours 41% Laboratory Lecture 24 hours 12% Placement Practice Project Supervision Self guided 65 hours 33% Seminar 24 hours 12% Studio Tutorial 5 hours 3% Work Based Learning Workshop Year Abroad Total 200 hours







Total 200 hours



· A class-based coursework phase test (5 credits) will summatively assess intended learning outcomes 1, 2 and 3. [A1]

• A three-hour closed-book examination (15 credits) will summatively assess intended learning outcomes 1, 3 and 4

[A1]Replaced group coursework assignment that assessed LO’s 1 and 2.


27/03/2013

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Mr P McCosker




3.00 hours in May

Common Exam(s)



None


None







Shortened title FIN REPORT ANAL


Advanced Economic Issues

310ECN

1. MODULE SUMMARY

Aims and Summary

The aim of this module is to provide students with an understanding of selected recent developments in economic theory and policy. On completion of this module students should be able to appreciate the relevance of these developments, evaluate them and be able to apply them to practical economic issues.

The content of the module will change over time, but likely subjects to be covered may include for example, corporate governance, growth theory, time-inconsistency and economic policy, auction theory, regulation and competition, the economics of happiness and efficiency management in the public services.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 30




200ECN and 201ECN or Equivelent (210ECN and 211ECN has been replaced by 200ECN and 201ECN)



None



Pass requirements


Special Features

Each topic is taught by different academic staff reflecting their teaching and research specialism.


• BESU037 BA Stage 3 Economics • BESU039 BA Stage 3 Financial Economics • BESU040 BA Stage 4 International Economics and Trade • BESU039 BA Stage 4 Financial Economics • BESU037 BA Stage 4 Economics • BESU038 BA Stage 3 Business Economics • BESU038 BA Stage 4 Business Economics • BESU040 BA Stage 3 International Economics and Trade





The intended learning outcomes are that, on completion of this module students should be able to:

[1] Evaluate selected developments in economic theory

[2] Compare and contrast these developments with other models

[3] Assess the limitations of these developments

[4] Apply these developments to explain and interpret business and economic policy issues.

Indicative Content

The following is an indication of the topics that may comprise the module content:

Economics of asymmetric information: Types of asymmetric information model, adverse selection, agency models. Signaling and screening, incentive structures.

Time Inconsistency And Economic Policy: The time-consistency problem and optimal economic policy. Importance of credibility. Devices to mitigate time-inconsistency problems.

Developments In Growth Theory: The Solow growth model. Developments in growth theory, endogenous growth models. Empirical facts of growth, growth accounting: application to developing nations.

Auction theory; Principles of different types of auction, optimal bidding strategies and predicted outcomes, e.g. rail services provision in the UK. Collusion and auction entry deterrence. Applications to government license auctions and evaluation of auction methods used.

Regulation and competition: Exercise and regulation of monopoly power. Methods of introducing competition in privatized utilities. Competition policy responses. Utility regulation in the UK and other jurisdictions.

Corporate Governance: Reporting and regulation. Principal-agent problem. Monitor Independence.

Measuring happiness: Alternative approaches to measuring welfare. The effects of income on happiness. Policy implications from happiness research.

Assessing and improving efficiency in the public services: theoretical versus real world perspectives drawing on UK and US experience; critical evaluation of the continuous improvement agenda as applied to, e.g. education and defence; productive time analysis in secondary care within the UK NHS.


The module will use a wide range of teaching methods including workshops, seminars, core lectures and self-directed study.







Total 200 hours


The intended learning outcomes will be summatively assessed as follows:

A 1750 word essay (5 credits) submitted mid-semester will summatively assess intended learning outcome 1.

A three hours unseen examination (15 credits) will assess Learning Outcomes 2, 3 and 4.


All learning outcomes will be formatively assessed via a series of problem solving exercises and case studies with immediate feedback provided in class.


Mar-2010

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Dr P Lis




3.00 hours in May

Common Exam(s)

None


None







Shortened title ADV ECON ISSUES


International Finance

353FIN



1. MODULE SUMMARY

Aims and Summary

The aim of this module is to provide students with an understanding of the international dimension of finance and how this impacts upon business. By the end of this module students should appreciate the workings and operation of currency derivatives markets, the international money and capital markets and the principles of currency risk management.

The subject matter of the module includes study of currency markets, international parity conditions, international money and capital markets, the nature and importance of currency risk and strategies for managing currency risk, including the application of derivatives to manage such risks.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 10




Pre-requisite Modules:(200ECN or 201ECN or 250FIN or 251FIN or 252FIN) or equivalent

(210ECN and 211ECN have been replaced with 200ECN and 201ECN)

Pre-requisite Modules:(210ECN or 211ECN or 250FIN or 251FIN or 252FIN) or equivalent


None



Pass requirements


Special Features

None


• BESU208 BSc Stage 3 Finance • BESU210 BSc Stage 3 International Finance and Economics (top

up) • BESU150 BA Stage 3 Accounting and Finance for International

Business


• BESU157 BA Stage 3 Economics Studies • BESU199 BA Stage 3 Business Administration (Part-Time) • BESU039 BA Stage 3 Financial Economics • BESU040 BA Stage 4 International Economics and Trade • BESU041 BA Stage 4 Accounting and Finance • BESU043 BA Stage 3 Business and Finance • BESU136 BA Stage 3 International Business • BESU039 BA Stage 4 Financial Economics • BESU041 BA Stage 3 Accounting and Finance • BESU069 BA Stage 4 Business Administration • BESU149 BA Stage 3 International Marketing • BESU043 BA Stage 4 Business and Finance • BESU069 BA Stage 3 Business Administration • BESU130 BA Stage 4 International Business Management • BESU158 BA Stage 3 Finance and Investment • BESU158 BA Stage 4 Finance and Investment • BESU192 None Stage 1 Contemporary studies • BESU999 None Stage 1 TARUC Finance and Investment • BESU151 BA Stage 3 Financial Studies • BESU996 None Stage 1 TARUC International Business • BESU998 None Stage 1 TARUC Banking and Finance • BESU040 BA Stage 3 International Economics and Trade




1. Analyse how the international dimension of finance affects the environment within which business operate and how it affects the decisions of the firm.

2. Compare the financial products available on international markets

3. Devise and apply appropriate strategies using derivatives to manage currency risk.

4. Critically evaluate the use of derivative instruments to manage currency risk.

Indicative Content

Currency Markets. Spot, forward, futures, options. Characteristics and organization of the different markets. Comparison of uses of the markets.

Parity Conditions. Covered and uncovered interest rate parity. Rationale for these conditions. Impediments to these conditions holding. Relevance of these conditions for financial decisions / issues. Empirical evidence

International Borrowing. Potential benefits of accessing international debt and equity markets e.g. reduced cost of capital, improved risk management etc. Dangers of issuing debt and equity on international markets.

International Money / Capital Markets: Foreign and eurocurrency markets, the swap market. Structure and uses of the markets.

Currency Risk: Meaning, types and importance of currency risk / exposure.

Currency Risk Management techniques. Internal and external methods, comparison and evaluation.


Lectures will provide basic core theory and knowledge. Seminars will require students to interpret and evaluate case studies, to work through and discuss problems illustrating relevant issues.

Students will also be expected to engage in direct and self – directed study.







Total 200 hours



Outcomes 2,3 and 4 will be assessed by an individual coursework essay of 1750 words. [5 credits].

Outcomes 1-4 will be assessed by means of a 3 hour unseen examination. [15credits]


All learning outcomes will also be formatively assessed in the seminar programme by a series of seminar exercises, problems and case studies.


March 2010

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Dr W Song




3.00 hours in May

Common Exam(s)

None




None







Shortened title INT FIN


Insurance and Pensions

354FIN

1. MODULE SUMMARY

Aims and Summary

This module provides students with an understanding of the nature and purposes of insurance and pensions. By the end of the module, students should have acquired the ability to critically evaluate alternative insurance and pension products in relation to the needs of individuals. They should also be able to communicate the relative merits of alternative insurances and pensions, and the implications of inadequate cover and provision.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




Pre-requisite Modules: 251FIN or equivalent

Pre-requisite Modules:251FIN or equivalent


None



Pass requirements


Special Features

None


• BESU158 BA Stage 3 Finance and Investment • BESU158 BA Stage 4 Finance and Investment


• BESU157 BA Stage 3 Economics Studies • BESU208 BSc Stage 3 Finance • BESU041 BA Stage 4 Accounting and Finance • BESU043 BA Stage 3 Business and Finance • BESU041 BA Stage 3 Accounting and Finance • BESU043 BA Stage 4 Business and Finance • BESU192 None Stage 1 Contemporary studies • BESU151 BA Stage 3 Financial Studies



The intended learning outcomes are that on completion of this module students should be able to:

1. Demonstrate knowledge of a range of insurance products.

2. Evaluate insurance products in relation to the requirements of individuals and businesses.

3. Evaluate the various types of pension in the UK.

4. Make decisions in relation to pension planning

Indicative Content

Insurance:

Insurance and the economy: Insurance and economic analysis; Insurance in the national and global economy; the insurance market place.

Principles and Practice of Insurance: Insurable interest; Utmost good faith; Proximate cause; Warranties; Subrogation; Contribution; Indemnity; Underwriting; Claims; Renewal; Policy construction.

General Insurance: Property insurance; Pecuniary insurance; Transport insurance; Liability insurance; Combined insurance;

Asymmetric Information and Insurance: Adverse selection; Moral hazard; Uninsurable risks;

Risk, Information and Insurance: Utility theory and insurance; Risk management – business; Risk management – individuals.

Competition in the Insurance Industry: Degree of competition in insurance markets; Insurance pricing methods; Role of intermediaries. Distribution channels. Market segmentation.

Reinsurance: Risk; Reinsurance markets

Government and Insurance: Regulation; Compulsory insurance.

Life Assurance and Assurance-Related Investments:

Term Assurance; Whole-of-Life Policies; Endowment Policies; Investment Bonds; With - Profits Funds; the Significance of Financial Strength.

Pensions:

Defined Benefit and Defined Contribution Schemes; Occupational Pension Schemes in theUK; Pension Transfers and Pension Unlocking; Personal Pension Plans; Stakeholder Pensions; AVCs.

Pension Funds: The Accumulation of Pension Funds; The Impact of Charges and Tax Changes

Annuities: Annuities as Pensions; Alternative Types of Annuity; Income Drawdown and Phased Retirement Schemes; Calculating a Level Annuity

Company Pension Scheme Balance Sheets

Life Cycle Analysis Of Pension Funding: Fixing a Proportion of Pre-retirement Income; Fixing a Constant Consumption Stream


Lectures, workshops.







Total 200 hours



Outcomes 1 and 2 will be assessed by means of a coursework essay of about 1,750 words. Any student who makes a bona fide attempt at this assignment will have the opportunity to attempt a second equivalent assignment, with the better of the two marks counting as the module coursework mark.

All outcomes will be assessed by a 3-hour unseen examination.

Re-assessment: coursework and/or examination as appropriate.


25 January 2006

3. MODULE RESOURCES





Required Equipment

Scientific calculator


Module leader

Name Mrs A Gill




3.00 hours in May

Common Exam(s)

None


None







Shortened title INSUR & PENSIONS


Business Strategy

302ACC

1. MODULE SUMMARY

Aims and Summary

This module aims to provide a firm foundation for understanding and applying a number of strategic management models, concepts and techniques. Through the use of case studies and real world examples students will consider the usefulness of strategic management in enabling businesses to assess competitive conditions, evaluate corporate capabilities, and identify means for them to establish a sustainable competitive advantage. It will therefore explore the techniques of strategic analysis and evaluation available to companies, aiming to develop their strategic options, choices and business performance.

This module will draw on and develop the knowledge of financial analysis and evaluation techniques covered in the level 2 modules.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 15




None


None



Pass requirements


Special Features

None


• BESU010 BA Stage 3 Accountancy • BESU010 BA Stage 4 Accountancy


• BESU041 BA Stage 4 Accounting and Finance • BESU041 BA Stage 3 Accounting and Finance • BESU192 None Stage 1 Contemporary studies




1. Analyse the internal and external environment of a business using a number of strategic analysis tools 2. Critically evaluate the strategic choices available to a business and recommend strategies that will help the business achieve its strategic objectives 3. Apply the theoretical concepts and techniques in real-life business scenarios 4.Explain how strategic change can be managed

Indicative Content

• The nature and purpose of Business • Value Analysis – Managing Strategy for value, consisting of the

following techniques that will used to analyse a firm’s financial and strategic position:

• Environmental Analysis Techniques - , , PESTLE, Porters Five Forces, Life Cycle Analysis, Competitor Analysis, Directional Policy Matrix SWOT

• Resource Based Analysis' Techniques - Value Chain analysis, Resources and competition, VRIO creating and sustaining financial competitive advantage

• The impact of ethics and corporate social responsibility on corporate strategy

• Strategic Implementation: change management

Strategic Choice at:

• Corporate Level: Understand why organisations might increase/decrease their corporate portfolio and the impact this can have on their overall financial performance and strategic position

• Business level: Different bases of achieving and/or sustaining strategic and financial competitive advantage using various strategies to increase market share, profit and financial return, for example price-based, differentiation, hybrid and focus strategies

Strategic development which involves:

• Various strategic financial development directions/options open to an organisation, for instance, market development, diversification strategies.

• The methods of strategic financial development that can be feasible for an organisation to expand or contract, i.e., through merger/acquisition, alliances, etc.

• The three success criteria used to assess the likely success of a financial strategic option available to an organisation: suitability, acceptability and feasibility.


There will be a balance between lectures and seminars. The seminars will be used predominantly for group discussion of prepared case studies. The aim is to supplement and develop ideas examined in the lectures with reference to real life case studies







Total 200 hours



A group coursework based on a case study (5 credits).

A 3 hour unseen exam (15 credits) based on a pre-seen case study.

Both of these assessments will summatively assess Learning Outcomes 1, 2 3 and 4.

Re-assessment: coursework component(s) as appropriate.



04/02/2014

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Mr C Lees




3.00 hours in May

Common Exam(s)

None


None







Shortened title




Behavioural Finance

302FIN

1. MODULE SUMMARY

Aims and Summary

Successful completion of this module would provide students with the ability to understand, to apply, and to critically evaluate three of the major areas of research in behavioural finance: Prospect Theory, Mental Accounting, and Herding.


Module size Half

CATS points 10.0

ECTS credits 5.0




Number of weeks 16




250FIN


None



Pass requirements


Special Features

None


• BESU208 BSc Stage 3 Finance


None



The intended learning outcomes are that, on completion of this module, students should have:

1. The ability to explain behavioural finance concepts.

2. The ability to apply behavioural finance concepts.

3. The ability to critically evaluate behavioural finance.

Indicative Content

Prospect theory and the disposition effect.

Mental accounting and behavioural portfolios.

Herding and momentum.


Interactive lectures: Basic concepts and techniques outlined

Workshops: Problems discussed, case studies analysed


Activity Type Time Spent Proportion Guided 40 hours 40% Lecture 12 hours 12% Self Guided 33 hours 33% Seminar 12 hours 12% Tutorial 3 hours 3% Total 100 hours 100%







Total 100 hours



Learning outcomes 1, 2, and 3 will be assessed by a 1.5 hour unseen examination. (7.5 credits)

Learning outcomes 1, 2, and 3 will be assessed by a 1,000 word piece of individual coursework. (2.5 credits)

Regular, immediate and dialogic feedback/feedforward will be provided to help students prepare for summative assessments. Formative feedback on the summative coursework will also stress ‘feedforward’ for later assessments.


Re-assessment: Examination and /or coursework as appropriate


11/03/13

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name

Telephone number



E-mail


2.00 hours in May

Common Exam(s)

None


None







Shortened title BeFin


Critical Issues in International Finance and Economics

361FIN

1. MODULE SUMMARY

Aims and Summary

The aim of this module is to provide students with a deeper understanding of selected contemporary issues in the field of economic and financial theory. On completion of this module students should be able to selectively apply theory and quantitative methods to key global topics and cases, to demonstrate clear understanding and relevance of the issues.

The module adopts a problem-based approach requiring students to integrate learning from across the course from both disciplines to identify, analyse, apply and evaluate case-based problems.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 15





None



Pass requirements


Special Features


• BESU210 BSc Stage 3 International Finance and Economics (top up)


None



The intended learning outcomes are that, on completion of this module students should be able to:

1. Evaluate selected advancements in economic and financial theory/policy, and relevant issues post financial crisis

2. Assess the impact and limitations of these developments and compare and contrast them with existing models

3. Apply these developments to explain and interpret the financial and the economic issues from policy perspectives

4. Enhance digital literacy by making use of economic and financial databases to undertake cross country comparisons and financial market perspectives.

Indicative Content

The following is an indication of the typical topics that will comprise the module content. Content may vary according to the issues of the day.

• Asymmetric information: Relevance of financial markets for economic growth: reducing liquidity risk, resource allocation, corporate control, financial intermediation, savings. Forms of asymmetric information: adverse selection, moral hazard. Protective mechanisms: signalling, screening, incentive structures. Financial systems and economic growth: finance constraints, investment and growth, information frictions.

• Regulation: Rationale for regulating firms, types of regulation, implications of and responses to regulation, particularly in the financial sector (banking, insurance and retail financial services). Regulation of monopoly power. Regulatory failure and self-regulation. Recent developments in regulation post financial crisis, including analysis of regulatory effectiveness and alternatives to regulation.

• CSR and Corporate Governance: Corporate responsibility, ethics and governance: lessons from the financial crises. Finance and sustainability: moralisation, financial exclusion, mis-selling, principal-agent problem. Corporate stakeholder relationships, board of directors.

• Behavioural Economics and Finance: Analysis of how social, cognitive and emotional factors determine economic decisions of individuals and institutions and the consequences these decisions have on market prices, returns and resource allocation.

• Islamic Finance: Recent developments and growth in Islamic finance. Operations, techniques and products. Dynamics of Islamic financial and capital markets. Regional approaches to Islamic finance (e.g. case of North Africa Region, Indonesia and Malaysia), micro-finance, economic growth and the ‘moral economy’. Impact on international economic, banking and finance communities.

• Banking: Theory and practice of financial intermediation and international banking: types of financial intermediaries, functions, instruments and justification of their existence. Risks, balance sheet management, performance, measurement and banking crises. Theory of central banking and implications for economic and monetary policy.








Total 200 hours


The intended learning outcomes will be summatively assessed as follows:

A group report and a presentation (10 credits) submitted mid-semester will summatively assess intended learning outcome 1-4.

A two hour unseen examination (10 credits) will assess learning outcomes 1-4.


All learning outcomes will be formatively assessed via a series of problem solving exercises and case studies with immediate feedback provided in class.


01/02/2014

3. MODULE RESOURCES



Required Equipment

None




Module leader

Name Dr G Sadler




2.00 hours in May

Common Exam(s)

None


None







Shortened title

Date of approval by BoS 11-Dec-2013

Performance Management

381ACC

1. MODULE SUMMARY

Aims and Summary

This module investigates how relevant accounting techniques can assist managers to control the performance of their business. Management accounting is presented as a service

function; a means to an end rather than an end itself. The aims are for students to understand the techniques, be able to apply them to business situations and to be aware of their limitations.

One important aim of this module is for the student to gain an understanding of the limitations of Management Accounting techniques. However, in order to do this, students must first understand what the techniques try to do and how they do it. In addition to this, students are introduced to the behavioural aspects of Managerial Accounting in areas such as ‘budget games’.



Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16





Pre-requisite Modules:281ACC or equivalent


Modules: 384ACC



Pass requirements


Special Features

None


• BESU010 BA Stage 3 Accountancy • BESU010 BA Stage 4 Accountancy


• BESU157 BA Stage 3 Economics Studies • BESU041 BA Stage 4 Accounting and Finance • BESU041 BA Stage 3 Accounting and Finance • BESU042 BA Stage 3 Business and Accounting • BESU042 BA Stage 4 Business and Accounting • BESU151 BA Stage 3 Financial Studies




1. Apply the concepts required in budget creation and identify, calculate and analyse significant variances.

2. Understand the behavioral aspects of budgeting with regard to recent thinking.

3. Analyse various techniques used in performance strategies. 4. Analyse the impact of transfer pricing strategies.

Indicative Content

Budget Creation:

Functional/departmental and master budgets Incremental and zero-based budgets Activity-based budgeting Rolling budgets Budget objectives and positive ‘spin-offs’ Use of interlocking spreadsheets

Variance analysis:

Material, labour, variable overheads, fixed overheads and sales variance calculations Alternative variances for absorption and variable costing systems Planning / operational variances Significance levels and interrelationships between variables Limitations of standard costing and variance analysis Behavioural issues and budget games

‘Beyond Budgeting’

Criticisms of budgetary control systems Adaptive processes to replace traditional budget systems

Balanced Scorecard:

Inadequacy of financial analysis in isolation Four perspectives Lead / lag indicators and feed-forward mechanism Choice of Key Performance Indicators and target levels Flexibility of design

Transfer pricing:

Transfer prices – perfect / imperfect / no market for intermediate product Transfer prices – negotiated, administered, market and cost-plus International transfer prices – taxation and distortion of reporting

Advanced Strategies and Techniques for Performance Management, for example:

ABM, MRP, ERP, JIT, TQM and ToC Benchmarking, Value Analysis, Kaizen costing, Target costing and Life Cycle costing



1. Apply the concepts required in budget creation and identify, calculate and analyse significant variances.

2. Understand the behavioural aspects of budgeting with regard to recent thinking.

3. Analyse various techniques used in performance strategies.

Analyse the impact of transfer pricing strategies. Student activity and time spent on each activity comprises:






Total 200 hours



The individual coursework of approximately 1,750 words (5 credits) will be a case study, which will summatively assess one of the four intended learning outcomes.

There will be the opportunity for informal feedback before the final coursework is presented.

A 3 hour exam (15 credits) will summatively assess the three intended learning outcomes not assessed by the coursework.




24/02/2014

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Mrs S Roberts




3.00 hours in May

Common Exam(s)

None




None







Shortened title PERF MGT


Management Accounting for Business Decisions

384ACC

1. MODULE SUMMARY

Aims and Summary

Students will gain an important understanding of Management Accounting techniques and through practical case studies, will learn how to apply these techniques to business. An increasingly important area is the behavioural aspects of Managerial Accounting which will be investigated in areas such as budgeting, divisional performance and business performance management. The module will build on previous studies and will develop students' problem-solving and critical abilities, which is critical for the non-accounting professional in business.


Module size Single

CATS points 20.0

ECTS credits 10.0




Number of weeks 16




185ACC or 285ACC or equivalent

Pre-requisite Modules:(185ACC or 286ACC) and (285ACC or 286ACC) or equivalent





Pass requirements


Special Features

None


• BESU150 BA Stage 3 Accounting and Finance for International Business


• BESU157 BA Stage 3 Economics Studies • BESU041 BA Stage 4 Accounting and Finance • BESU041 BA Stage 3 Accounting and Finance • BESU042 BA Stage 3 Business and Accounting • BESU042 BA Stage 4 Business and Accounting • BESU151 BA Stage 3 Financial Studies




1. Understand and apply costing models to complex business problems.

2. Critically evaluate managerial accounting models.

3. Understand and apply techniques relevant for short term decision making in a business context.

4. Identify importance of behavioural aspects in management accounting, in relation to budgeting and delivery of strategies.

Students will receive continual formative feedback, through case studies and questions in workshops.

Indicative Content

COST BEHAVIOUR

Understanding of cost behaviour and the allocation of indirect costs or overheads to products using traditional product costing techniques.

INFORMATION FOR DECISION-MAKING

The concept of decision-relevant costs, Cost-Volume-Profit analysis and the information managers' need for decision-making.

Use of Activity Based Cost Information.

The use of Capital Investment Appraisal including sensitivity analysis.

STRATEGIC MANAGEMENT ACCOUNTING

Budgeting for planning and control and associated behavioural aspects.

Business Performance Management and 'Beyond Budgeting'.

Performance indicators and the Balanced Score Card.

Not-for-Profit organisations

DIVISIONAL PERFORMANCE EVALUATION

Measuring the performance of both divisions and managers, and ensuring decision-making at divisional level leads to goal congruence for the whole organisation.

The effect the cost charged has on goods or services transferred between divisions on activities and profits at both divisional and group levels.


The learning activities will include interactive lectures, workshops, directed reading and computer-based learning.

Students will also receive formative feedback on a regular basis.

Also, students are expected to complete the programme of guided study.







Total 200 hours



The individual coursework of approximately 1750 words (5 credits) will be a case study which will summatively assess an aspect of intended learning outcomes 1, 2, 3 or 4.

There will be the opportunity for informal feedback before the final coursework is presented.

A 3 hour exam (15 credits) will summatively assess intended learning outcomes 1, 2, 3 or 4.




5-Jun-2009

3. MODULE RESOURCES



Required Equipment

None


Module leader

Name Mr D Johnson

Telephone number

E-mail


3.00 hours in May

Common Exam(s)

None


None







Shortened title MGT ACCT FOR BUS DEC




ECONOMICS, FINANCE AND ACCOUNTING COURSES

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