Economic Foundations of Finance

15 credits
Autumn teaching, Year 1

Introduction to Business and Management

15 credits
Autumn teaching, Year 1

Introduction to Business and Management is an introductory study of contemporary organisations and their management. It explores the types of purposes of organisations, their stakeholders (CSR) and changing environments together with their key managerial processes – entrepreneurship, organisational structure, leading, strategic planning and change.

The focus throughout is on helping you achieve a critical and reflective approach, and learning to apply relevant concepts, tools and models.

The coursework component of assessment requires you to choose an organisation that is of interest to you and to explore, critically, the way in which it handles a process of your choice. You are supported in this by the submission of a structured proposal on which formative feedback is given.

Seminar activities are participative and require preparatory work which is signposted though downloads and links on Study Direct well in advance.

Lectures are interactive, employing the use of quizzes and featuring clips from YouTube, such as Dragons' Den excerpts.

An unseen examination completes the assessment profile and you tackle a case study (which revisits keys concepts) in the final seminar as a formative exercise.

The module provides a platform for later study by encouraging skills in critical thinking, academic writing, concept acquisition and research. Introduction to Business and Management aims to facilitate the transition to university-level learning smoothly, meaningfully and enjoyably.

Introduction to Financial Accounting

15 credits
Spring teaching, Year 1

Accounting is the 'language for all business', which translates information about organisations to users for the purposes of control, financial performance assessment and valuation.

This module is designed to teach you how to understand this language and be able to communicate in it. It will equip you with an understanding of the major accounting concepts, the necessary skills, knowledge and insights to understand how and why financial statements are created and how they have developed.

You will be exposed to how financial transactions and events are recorded, and will learn how to compile rudimentary financial statements for various business entities.

Introduction to Management Accounting

15 credits
Spring teaching, Year 1

Introduction to Mathematics for Finance and Economics

15 credits
Autumn teaching, Year 1

This module introduces you to the basic mathematical methods and techniques used in economic analysis, and will enable you to use these skills independently and with confident. These skills also have a transferable content and are useful in other disciplines and applications.

Introduction to Statistics

15 credits
Spring teaching, Year 1

Principles of Finance

15 credits
Autumn teaching, Year 1

Theory of Investments

15 credits
Spring teaching, Year 1

Accounting Information Systems

15 credits
Spring teaching, Year 2

Corporate and International Finance

15 credits
Spring teaching, Year 2

Financial Accounting and Reporting

15 credits
Autumn teaching, Year 2

This module covers International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS). It provides a balanced and comprehensive framework to enable you to acquire the requisite knowledge and skills to appraise Generally Accepted Accounting Practice critically and to evaluate proposed changes from a theoretical base.

Financial Institutions and Markets

15 credits
Autumn teaching, Year 2

This module introduces the various types of financial institutions and their role in society including banks, insurance companies and investment managers. It then provides an overview of the major financial markets and products and how these are related to each other and to the institutions introduced earlier. Finally, behaviour of financial institutions and ethical principles of finance are discussed. A provisional outline of lectures, including one revision lecture at the end, is as follows:

1. Introduction and purpose of module: overview of lectures, textbook, interplay with other courses, finance as an occupation, philanthropy and origins of finance
2. Commercial banks: origins, adverse selection and moral hazard, operational risks, capital adequacy, regulation, deposit insurance and Sharia/Islamic finance
3. Investment banks: importance in markets and society, secret of high profit, divisional analysis, shadow finance and leasing
4. Insurance: origins, life and health, principal-agent problem, AIG blow-up and regulations
5. Investment managers: 40 Act, mutual funds, hedge funds, private equity and venture capital
6. Debt markets: term structure, leverage cycle, rating agencies, usury and consumer finance protection
7. Equity markets: corporations, stock exchanges and capital raising
8. Real estate:REITs, mortgages, securitisation, boom and bust cycles and specialty finance
9. Derivatives:options, forwards, futures, arbitrage and hedging risks
10. Crises and regulation: recent financial crisis, historical perspectives and attempts at regulatory reform
11. Capitalism and ethics: morality of finance, 'doing God's work' and different political frameworks
12. Revision

Introduction to Business Law

15 credits
Autumn teaching, Year 2

This module aims to develop knowledge and skills in the understanding of the general legal framework, and of specific legal areas relating to business.

The module is divided into four parts:

1. the English legal system
2. contractual obligations
3. tortious liability; and
4. the contract of employment.

Management Accounting

15 credits
Spring teaching, Year 2

This module, whilst considering contemporary debates and controversies, will equip you with an appreication of the traditional management accounting techniques and consider their applicability, strengths and weaknesses. Through an exploration of ‘new’ techniques including those employing Information Technology, develop an understanding of current and future directions in the field.

Principles of Organisational Behaviour and Human Resource Management

15 credits
Spring teaching, Year 2

This module explores the causes and effects of human interaction in an organisation and how humans at individual, group and organisational level influence organisations. Organisational performance depends on appropriate incentives to individuals, developing effective teams, designing an attractive job environment and managing organisational structure.

Focusing on these issues, the module is divided into four themes based on the level of analysis:

• individual – we will look at the individual's contribution to organisation and the factors affecting their behaviour
• group – the nature and significance of groups in organisations will be discussed and the range of skills required for effective team work and factors affecting working in groups will also be explored
• organisational – organisational design and culture, inspiring workers through norms, beliefs and behaviour, and management in the work place will be explained
• human resource management – we will examine the aspects of developing human capital through recruitment, training, development and reward, which will create a sustainable commitment to organisational goals and to ensure high performance.

There will be two forms of assessment for this module with an equal weighting for coursework and an unseen exam. The coursework component will invovle a Group Report analysing concepts of human resource management and organisational behaviour in a chosen organisation. Formative feedback for this assessment will be provided by peers and tutors on the work-in-progress presentation of this report in seminars.

An unseen exam at the end of the term will cover the remaining assessment. You will participate in a role playing game in your final seminar analysing and discussing the concepts taught during the lecture as a formative exercise.

Introduction to Econometrics (level 5)

15 credits
Autumn teaching, Year 2

Taxation

15 credits
Autumn teaching, Year 2

You will develop the skills to compute taxes for individuals, single companies and groups of companies. Issues involved in preparing taxes for corporations engaged in International Trade and for Multinational Corporations will also be covered.

Advanced Financial Accounting

15 credits
Autumn teaching, Year 3

This module expands upon the framework of financial reporting considering contemporary debates and controversies.
The developing nature of regulatory regimes associated with financial reporting in an International context will be explored as will the role of social and environmental issues within corporate reporting.
The reliability and usefullness of reporting from the point of view of a range of stakeholders with particular reference to Taxation authorities will be considered.
Current Taxation processes and procedures will be evaluated in the context of both local and global policies and regulatory frameworks.

Advanced Management Accounting

15 credits
Autumn teaching, Year 3

Corporate Social Responsibility and Ethics

15 credits
Spring teaching, Year 3

The module aims to provide an investigation of the relationship between organisations and their stakeholder groups, and the social accountability and responsibilities that a corporation holds towards different stakeholders.

The module will introduce you to concepts of corporate governance, socially responsible investment and ethical issues relevant to contemporary business. It will be contemporary, interesting, stretching and relevant, and should build on and integrate with other modules that you have taken and/or are taking.

Applied Econometrics

15 credits
Spring teaching, Year 3

This module examines in greater depth topics covered in the Introduction to Econometrics module. The module explores the analysis of time series data with particular reference to unit root testing, cointegration and dynamic modelling, and also examines the use of models with limited dependent variables (eg the probit model).

Auditing

15 credits
Autumn teaching, Year 3

Business Strategy Report

15 credits
Spring teaching, Year 3

This module provides the opportunity for you to prepare a report on the strategic position of a business or organisation (governmental or not-for-profit) of your choice. You will have the chance to integrate the skills you have developed in your previous modules into one extended research project.

The project requires you to research the strategic position (including market environment, resources and cababilities) of an organisation. Based on this analysis, you will propose a strategy for the organisation over the next five years.

The final report should reflect your research skills and understanding of previous course material. During the first two weeks of the module, you will receive research methods training, supplementing the Research Methods module in the second year.

Critical Perspectives on Management and Organisations

15 credits
Autumn teaching, Year 3

This module aims to introduce you to a number of advanced topics in the field of organisation and management studies. It draws upon contemporary research and adopts a critical and analytical perspective to study complex issues that surround the management of organisations today.

Some of the topics that will be covered are:

1. Organising in post-modernity
2. Unpacking the foundations of institutions
3. The turn to (theory and strategy of) Practice
4. Managing boundaries
5. Organisational identity & Organising Identity
6. Sense making in organisations and organisational learning
7. Power/Knowledge, Resistance and Politics in organisations
8. Management fads & fashions

Financial Derivatives

15 credits
Spring teaching, Year 3

Innovation Systems

15 credits
Spring teaching, Year 3

Science, technology and innovation (STI) play fundamental roles in our societies. STI are pervasive in our lifestyles and our social organisation and crucial for economic growth. However, until a few years ago science and technology had been regarded as external factors that social actors used at convenience without inquiring how they were created. 

In this module we will explore how science and technology are shaped by social forces and how science and technology shape social phenomena. The processes by which socio-economic and technological phenomena shape each other are complex and dependent on historical circumstances. In order to try to see through this complexity we will adopt systemic approaches taking on economic and sociological perspectives.

Innovation system and network approaches look into how various socio-economic actors (university, small spin-off firms, large corporations, governmental agencies, activist organisations and the wider public) interact with each other. For example, these interactions may lead to knowledge transfer, may result in the construction of new regulatory regimes or may lead to political conflicts. 

This module aims to 'open up' the black box of how science, technology and innovation (STI) to understand their emergence and show that STI can be created, directed and managed for diverse purposes, encouraging critical views on past and current STI uses.

Knowledge, work and organisations

15 credits
Spring teaching, Year 3

This module looks at the pivotal role that knowledge workers play in the creation, application and diffusion of knowledge within and between firms.

You will consider new approaches to managing learning processes in the firm, including developments such as knowledge management and communities of practice, and the novel organisational structures that have emerged to coordinate knowledge-­work activity.

You will explore the diffusion of knowledge between firms through different types of knowledge-worker communities and networks, as well as the role of labour mobility. You will also consider how certain skills are emerging to play a critical role in the knowledge economy - for example, consulting services and knowledge brokering. Finally, you will consider how labour market institutions that impact careers, skills and training of knowledge workers, shape different approaches to knowledge generation. 

Law of Business Organisations

15 credits
Spring teaching, Year 3

This module aims to develop knowledge and skills in relation to the law of business organisations including the formation and constitution of business organisations, the financing of companies and the management, administration and regulation of companies.

Managing Change

15 credits
Autumn teaching, Year 3

This module will provide you with detailed theoretical and practical knowledge of how to manage change in a variety of contexts. You will examine the principles of managing change at a number of levels, building progressively throughout the module from looking at individual change, to team change, and organisational change up to complex change at the meso-macro level in complex economic systems (eg large projects of regional, or even national importance).

Within this continuum, topics to be addressed include: cognitive and psychodynamic theories of change, the constitution of teams and their dynamics, models and approaches to organisational change (including cultural change, restructuring, and mergers/acquisitions). The application of specific tools for change will also be a key feature of the course, including tools for planning and project management, as well as team member/stakeholder engagement techniques.

You will engage with theoretical concepts and real-life, empircal case material. These will form the main focus of the interactive seminars, which will employ diverse methods (role-plays, debates, presentations, team-based problem solving) to discuss case studies and to help you gain practical skills from applying tools for managing change.

An assessed feasibility study project will provide an opportunity to operationalise course learning towards practical tasks as well as demonstrating your understanding and process ahead of the unseen exam. The Lecture titles are:

• Understanding Change in the Individual
• Change in Teams and Teams for Change
• From Ad hoc to Scientific Management (the Classical School)
• From Certainty to Contingency
• In search of new paradigms
• Critical perspectives on organisational theory - postmodernism, realism and complexity theory
• Culture, Power Politics and Choice
• Planned and Emergent Change
• A Framework for Change
• Manging Change, Managing Choice
• Technological transitions
• Technological revolutions

New Venture Creation and Business Planning

15 credits
Spring teaching, Year 3

This module delivers a systematic understanding of the integrated component parts that constitute a start-up enterprise. It begins with an overview of the entrepreneurial attributes that underpin the development and implementation of an enterprise. Theoretical perspectives of entrepreneurship and models for assessing added value will form the basis of analysis of the process of start-ups. The module assists students in understanding strategic issues using appropriate frameworks to critically evaluate how entrepreneurs undertake the development of functional processes and to make informed strategic decisions. The theoretical underpinnings will also facilitate analysis of start-ups in a global market environment. Leading on from this, students will develop a critical understanding of the key processes involved in start-ups including web design, marketing, customer relationships, security and legal and ethical issues. The academic rigour of the module is enhanced by the linking application with the use of theory as presented in business models, and business plans.

Outline content

The business planning process
Idea generation / development / evaluation
Market identification including exposure to market players
Researching the resources required including equipment, people, funding, seed corn, angle funds,
Segmentation / positioning & differentiation / targeting
Developing the marketing mix (7 P's),
Use of technology to enable the business
Financial planning leading to development of financial statements and realistic related assumptions
Government, Regional and professional organisations/body support systems

Principles of Banking

15 credits
Spring teaching, Year 3

This module is an introduction to both theoretical and practical issues related to the modern banking business and begins with an overview of the role and genesis of the financial system and the nature of financial intermediation. It covers the main characteristics and types of banks (eg commercial and mutual, retail and wholesale, role of central banks) and analyses recent trends and developments in banking markets. The module also explores the main items contained in banks’ financial statements and explains how to assess bank performance by using basic financial ratios.

The second part of the module focuses on the main risks of banking, with particular reference to credit risk and liquidity risk, and outlines elementary risk management, and asset and liability management techniques. Moreover, it examines the rationale for bank regulation and distinguishes between the different types of regulation, especially in relation to the recent financial crisis. Particular reference is made to the latest development on Basel III and Dodd–Frank Wall Street Reform and Consumer Protection Act.

The following topics will be covered:

1. Banking Activities and the type of banking
2. Theory of central bank and monetary policy
3. Banks' balance sheet and income structure
4. Managing Banks
5. Banking Industry: Structure and Competition
6. Banking risk management
7. Banking crisis in 2008
8. Bank regulation and supervision

Research Project

30 credits
Autumn & spring teaching, Year 3

This module provides the opportunity for you to undertake a significant and independent research project. This may be a dissertation in the form of a literature-based analysis of a research problem, or a dissertation in which some primary empirical data is collected and synthesised by you. In BOTH cases, the dissertation is expected to address clear research questions. The research project provides you with the opportunity to integrate and apply knowledge from the degree programme, and to develop research skills. During the first four weeks of the course you will receive research methods training, supplementing the research skills acquired in their first year. Thereafter, you will meet twice a term with an assigned project supervisor.

Strategy

15 credits
Autumn teaching, Year 3

This is a final-year integrative module in strategy, which develops your understanding and skills as a prospective future manager, specifically for formulating an organisation's overall strategic direction.

The module will help you to develop an understanding of the different approaches to strategy: how choices are made between different possible approaches; the content in which choices are made; and how strategies and structures are designed and implemented.

This module will complement and build on the various management skills already developed through earlier business and management modules.