module specification

The module focuses on the organisation, structure and functions of financial markets and market participants. It provides the theoretical and practical framework for understanding the operation of financial markets and institutions.

• The Financial System
Function and structure of financial markets, internationalization of financial markets, function and types of financial intermediaries, financial regulation of the financial system, the efficient market hypothesis, financial crises.

• Participants in Financial Markets: banks, building societies, pension funds, insurance companies, mutual funds, open-ended funds, closed-ended funds, hedge funds, savings associations and credit unions, investment banks, security brokers and dealers, venture capital firms, financial companies, financial analysts, regulators and others.

• Financial Markets:
• Money Markets
• Bond Markets
• Stock Markets
• Mortgage Markets
• Derivatives Markets
• Commodity Markets
• Foreign Exchange Market

• The Interconnectedness of Financial Markets and Institutions

Learning Outcomes LO 1 - 3

Scheduled learning and teaching for this module comprises face-to-face contact hours consisting of weekly 2-hour lectures and 1-hour seminar. The virtual learning environment (Weblearn) supports the relevant module learning and teaching materials such as lecture slides, seminar questions, case studies, guideline answers to case studies / seminar questions, past examination paper, coursework brief, assessment and grading criteria, deadlines and feedback details.

Students are encouraged to reflect on their learning development through seminar participation, feed-forward and feedback sessions.  They are expected to develop subject specific knowledge and skills as well as cognitive abilities and generic skills that enable an appreciation of the nature of the operation of financial markets and institutions.

On successful completion of this module, students will be able to:

1. Describe financial institutions that participate in financial markets;

2. Understand the nature, structures and functions of different financial Markets

3. Understand the interconnectedness of different financial Markets

Formative assessment will take place on a weekly basis to develop theoretical, analytical and oral and written communication skills. Summative assessment will take place in week 14 in the form of individual report of 1500 words (100% weighting). Students will be expected to demonstrate a clear understanding of the nature of financial markets and institutions and their interconnectedness.

Books

Core Textbooks:
• Mishkin, F. S., & Eakins, S. G. (2018). Financial Markets and Institutions. 9th Edition (Global Edition). Pearson.

Other Textbooks:
• Valdez, S. & Molyneux, P. (2017). An Introduction to Global Financial Markets. 8th Edition. Palgrave Macmillan.
• Casu, B., Girardone, C., & Molyneux, P. (2015). Introduction to Banking. 2nd Edition. Pearson.
• Fabozzi, F. J., Jones, F.J., & Modigliani, F.P. (2013). Foundations of Financial Markets and Institutions: Pearson New International Edition, 4/E. Pearson.
• Matthews, K., Giuliodori, M., & Mishkin, F. S. (2013). The Economics of Money, Banking, and Financial Markets: European Edition. Pearson.
• Arnold, G. (2012). Modern Financial Markets and Institutions: A Practical Perspective. 1/E. Financial Times Press.
• Buckley, A. (2011). Financial Crisis: Causes, Context, and Consequences. Financial Times Press.
• Howells, P. & Bain K., (2007) Financial markets and Institutions. 5th Edition. Financial Times Press.