FINANCIAL MARKETS ENVIRONMENT

SHE Level 1
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M1N322734
Module Leader n/a
School Glasgow School for Business and Society
Subject Finance and Accounting
Trimesters
  • A (September start)-B (January start)
  • B (January start)-A (September start)

Summary of Content

This module provides an introduction to the financial services sector through a study of the role, operation and function of markets and financial institutions in the UK considering the environment in which the financial service industry exists. Exploring the theory of financial markets it will raise students' awareness of how financial markets operate, their broader relationship with the legal, economic and tax environments and consider the major organisations within these financial markets. Students will also explore the regulation and governance frameworks in the financial services sector. Exploring these frameworks students will address ethical issues, corporate social responsibility (CSR) and their impact on financial markets providing a comparison to international financial markets. This module has a practical emphasis, contributed to by the nature of the group presentations, and the participation of guest speakers from the industry, enabling current issues and developments in the UK financial services environment to be examined.

Syllabus

The World of Finance Introduction to Financial Products Financial Intermediation and Financial Markets Financial Institutions Monetary and interest rate policy Money markets Bond Markets Stock markets Foreign Exchange Markets Understanding of the Financial Pages Financial Service Regulation Contemporary Issues in Ethics and Corporate Social Responsibility in the International Financial markets The role of the Professional Bodies and Trade Associations and their role in the market dynamics.

Learning Outcomes

On successful completion of this module, the student should be able to: - " Outline the history, growth and development of UK financial institutions;" Identify and demonstrate an understanding of the main functions of the institutions in the financial sector; " Explain the role of the different types of financial markets ; " Appreciate the relationship between the different components of the financial environment; " Discuss the activities of both individual and institutional investors in the financial markets. " Explain the operation of monetary policy, determination of interest rates as well as the relationship between interest rates and inflation.It will outline a range of issues affecting consumers of financial services; demonstrate an understanding of the key issues around themes of international finance including; foreign exchange market, international money market, credit market, stock market and bond markets. Discuss how corporate governance, business ethics and corporate social responsibility impact on the financial services industry. It will help to identify personal and professional development goals.

Teaching / Learning Strategy

The module provides a combination of lectures, seminars, practical and project based student activity. Presentations from, and interaction with, key figures in the Industry will be an important element. This interaction will be through guest lectures, web enabled interviews, Industry visits. Web enabled work will include consideration of international issues in financial services. Lectures will be used to develop a theoretical understanding of the topics. Turorials will be used to develop enhanced knowledge through practical case study research in groups, practical assignments, and debate. The Portfolio assessment has elements of prescriptive criteria e.g. reports on guest speakers, reviews of financial institutions and an essay. The completion of the Portfolio encourages research and initiative combined with the personal skills of report writing and presentation skills. The materials for the Portfolio will be completed on an ongoing basis. Use of discussion boards on GCU Learn will facilitate the discussion and feedback on assessments and the e-learning will facilitate research, interactive industry dialogue. Podcasts from Industry specialists, including professional bodies, will enhance the overall learning experience. Summative feedback will be used to identify through the module areas for improvement and development of the student. Such feedback will be provided within the GSBS guidelines for feedback. Apart from the Portfolio, the assessment basis will also include an on-line short answer test of the students understanding of the theory of the markets and a group presentation. Students will be actively encouraged to use FT.com, Bloomberg and other financial sources and will be equipped with guidance and tips on how to understand the financial pages of the media. Students will be encouraged to reflect on learning and skills developed during the course of the module. GSBS will continue to use the advancement of GCU Learn as a blended learning tool through its teaching and learning as well as through engagement with students. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCU Learn to ensure student support and information sharing. Students are provided with formative and summative feedback via a variety of mechanisms. Feedback on coursework is provided within 3 working weeks of submission.

Indicative Reading

Essential Reading:- Money, Banking and Financial Markets (4th edition) Cechetti and Schoenholtz Stoakes C. (2015) Know the City 2015/16 (2 nd edition) Christopher Stoakes Ltd Boakes K. (2011) Reading and Understanding the Financial Times updated for 2010-2011 (2 nd edition), Financial Times Prentice Hall Further Reading: Vaitilingam R. (2010) FT Guide to using the Financial Pages (6 th edition), Financial Times Prentice Hall Howells P. and Bain K. (2007) Financial Markets and Institutions (5 th edition) Financial Times Prentice Hall Webb R. and Brahma S. (2013) Financial Markets and Institutions (1 st edition), Pearson Murphy D. and Devlin M. (2009) Banksters , Hachette Books Ireland Lewis M. (2015) The Big Short: Inside the Doomsday Machine , W. W. Norton Mishkin F.S. (2016) The Economics of Money, Banking and Financial Markets (11 th edition) Pearson

Transferrable Skills

By the end of this module students will have gained competence in the following key areas: Oral and written communication Presentation skills as part of a group and as an individual Critical and reflective thinking Working as part of a team Research capability

Module Structure

Activity Total Hours
Practicals (FT) 1.00
Independent Learning (FT) 25.00
Tutorials (FT) 16.00
Independent Learning (FT) 99.00
Assessment (FT) 15.00
Lectures (FT) 44.00

Assessment Methods

Component Duration Weighting Threshold Description
Coursework 2 n/a 20.00 35% Group presentation on Case Study researched
Coursework 1 n/a 60.00 35% Portfolio - range of written tasks.
Exam (Dept) 01 n/a 20.00 35% Class Test - 2 x 45 minutes online MCQ