FE3001 - Introduction to Banking, Finance and Economics (2022/23)
Module specification | Module approved to run in 2022/23 | ||||||||||||||||
Module status | DELETED (This module is no longer running) | ||||||||||||||||
Module title | Introduction to Banking, Finance and Economics | ||||||||||||||||
Module level | Foundation (03) | ||||||||||||||||
Credit rating for module | 30 | ||||||||||||||||
School | Guildhall School of Business and Law | ||||||||||||||||
Total study hours | 300 | ||||||||||||||||
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Assessment components |
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Running in 2022/23(Please note that module timeslots are subject to change) | No instances running in the year |
Module summary
The module introduces and examines the basic concepts and principles of banking, finance and economics, providing a secure foundation for students pursuing specialist degrees in Banking, Finance, Economics, and Business Economics.
The first part of the module covers basic concepts in banking and finance, and the second part focuses on the principles of microeconomic and macroeconomic theory.
Syllabus
Introductory principles of banking and finance:
Theory of financial intermediation
Financial stability, financial information
Balancing potentially conflicting objectives: safety, profitability, liquidity.
Financial institutions and financial markets
Financial regulation and regulatory bodies
Risk and return, diversification,
Banking functions, structures, operations and products
Basic financial arithmetic, time value of money
Introductory microeconomics and macroeconomics:
Key concepts relating to resource allocation, economic systems and economic analysis.
Consumer demand and factors influencing it; producer’s supply and factors influencing it; price determination.
Market equilibrium; Price elasticity of demand and supply.
Production function; costs of production; revenue and profit maximisation.
Factors of production and the law of diminishing returns.
Macroeconomic aggregates and national income accounting.
The role of government in the economy.
Aggregate demand and supply.
Macroeconomic goals and policies.
Balance of independent study and scheduled teaching activity
Students are encouraged to reflect on their learning development through workshop participation, feed-forward and feedback sessions.
A feed-forward strategy is used to provide feedback prior to submission of coursework to enable students to improve their work.
Learning takes place in weekly 3-hour workshops. During workshops, topics are designed to introduce basic concepts, principles and issues that form a secure foundation for more complex ones.
Students are expected to carry out independent work, solve problems, present answers and follow a discussion.
Small group presentation requires students to work collectively prior to carrying out their presentation.
The module uses blended learning through the virtual learning environment, Weblearn where all the learning and teaching materials such as lecture notes, seminar questions, past/sample exam papers, coursework brief, assessment and grading criteria, assessment strategy and deadlines for feedback will be made available.
The balance of independent study and scheduled teaching activity within the module is indicated in the section below.
Learning outcomes
On successful completion of the module students, will be able to:
1. Give oral presentations and work effectively in groups and demonstrate team-working, planning, communication and other “soft” skills and communicate ideas and analysis in banking and finance through oral expositions
2. Articulate and demonstrate an understanding of introductory concepts in banking and finance and basic financial arithmetic
3. Articulate and demonstrate an understanding of introductory microeconomics and macroeconomics, consumer and producer theories and how markets operate.
Bibliography
Books
Sloman, J., Guest, J. and Garratt, D. (2018) Economics, 10th Edition, Harlow, Pearson.
Begg, D., Vernasca, G. Fischer, S. and Dornbusch, R. (2014) ‘Economics’ McGraw-Hill.
Casu, B. Girardone, C. and Molyneux, P (2015) ‘Introduction to Banking’ 2nd ed
Pearson.
Choudhry, M. (2012) The Principles of Banking John Wiley & Sons.
Howells, P. Bain, K. (2008) The Economics of Money, Banking and Finance 4th edition
Financial Times/ Prentice Hall.
Mishkin, F. S. (2018) Economics of Money, Banking and Financial Markets 12th ed Pearson.
Academic Journal Articles (accessible electronically)
Camargo, J., González, M., Guzmán, A., ter Horst, E. and Trujillo, M-A. (2018) ‘Topics and methods in economics, finance, and business journals: A content analysis enquiry’, Heliyon, Elsevier, Volume 4, Issue 12, December.
Jawadi, F., and Sévi, B. (2017) Introduction to recent research topics in banking and finance’ Research in International Business and Finance, Volume 39, Part B, January 2017, Pages 761-762.
Professional Journal Articles
Miles, D. (2019) ‘If it ain’t broke, don’t fix it’ Financial World, December 2018-January 2019 p 7.