programme specification part 1: course ......page 1 of 20 september 2015 programme specification...
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Page 1 of 20 September 2015
PROGRAMME SPECIFICATION
Course summary
Final award BSc(Hons) Finance and Investment
Intermediate award BSc Finance and Investment, Dip He Finance and Investment, Cert He, Finance and Investment.
Course status Validated
Awarding body University of Brighton
Faculty Brighton Business School
School Brighton Business School
Location of study/ campus Moulsecoomb
Partner institution(s)
Name of institution Host department Course status
1. SELECT
2.
3.
Admissions
Admissions agency UCAS
PART 1: COURSE SUMMARY INFORMATION
Page 2 of 20 September 2015
Entry requirements Include any progression opportunities into the course.
Applicable for 2015 entry. Check the University’s website for 2016 entry requirements.
Typical Entry requirements
BBC at "A" level or Equivalent (excluding General Studies)
Or
National Diploma
DMM Plus:
GCSE: Maths and English Language at Grade C or above
For non-native speakers of English : English Language Requirement: IELTS 6 (with minimum 6 in writing and 5.5 in other elements), CAE Grade C, or TOEFL: 233 (computer), 575 (paper) or 89 (internet based) with appropriate written scores as applicable for overseas applicants.
OR
International Baccalaureate: 28 points with 16 at Higher level. Applicants without English Language will need to gain a min grade 4 in HL English or a min grade 5 in SL English on IB.
OR
via Access or other progression agreements approved by Brighton Business School and the University of Brighton
OR Other: Mature, 21 years or over, applicants without the above qualifications should be able to show an ability to benefit from the course by, for example, work or professional experience. All mature applicants are considered on an individual basis.
Start date (mmm-yy) Normally September
Sept -16
Mode of study
Mode of study Duration of study (standard)
Maximum registration period
Full-time 3 years 8
Part-time NA NA
Sandwich 4 years 10 years
Distance NA NA
Course codes/categories
UCAS code N390
Contacts
Course Leader (or Course Development Leader)
Dr Ray Bachan
Page 3 of 20 September 2015
Admissions Tutor Moulsecoomb admissions team
Examination and Assessment
External Examiner(s)
Name Place of work Date tenure expires
Mr Christopher Hull St Mary’s University College
01/12/2016
Prof Christopher Ashford
Northumbria University 30/09/2019
Prof Mike Page University of Portsmouth
30/09/2016
Dr Mark Rhodes University of Hull 30/09/2019
Dr Sheikh Selim University of Westminster
01/01/2017
Ms Iwi Ugiagbe-Green
Leeds Beckett University
30/09/2018
Examination Board(s) (AEB/CEB)
UG AFL programmes examination/award board
Approval and review
Approval date Review date
Validation May 20071 March 2017
Programme Specification Sept 162
Q&S Draft (QA) June 2016
Sept 173
Professional, Statutory and Regulatory Body 1 (if applicable): Association of Chartered Certified Accountants (ACCA)
4
Professional, Statutory and Regulatory Body 2 (if applicable): Association of International Accountants (AIA)
4
1 Date of original validation.
2 Month and year this version of the programme specification was approved (normally September).
3 Date programme specification will be reviewed (normally approval date + 1 year). If programme specification is
applicable to a particular cohort, please state here. 4
Date of most recent review by accrediting/ approving external body.
Page 4 of 20 September 2015
AIMS AND LEARNING OUTCOMES
Aims The aims of the course are:
To provide an intellectually rigorous and professionally relevant educational experience for those wishing to be employed in financial and investment institutions or institutions that support, regulate or analyse financial markets or processes and to provide a focused education with academic rigour, professional relevance and an understanding of professional best practice based on the core principals of finance and investment.
To provide students with a sound grounding in the principles of finance and investment and enable them to apply these to a broad range of international economic, financial and investment problems.
Learning outcomes The outcomes of the main award provide information about how the primary aims are demonstrated by students following the course. These are mapped to external reference
points where appropriate5.
Knowledge and theory On completion of study, a student should be able to demonstrate:
1) An understanding of financial institutions and financial markets,
their role, function and operation, drawing upon the disciplines of economics, finance and law and having regard to the appropriate financial and quantitative techniques.
2) Knowledge and understanding of contemporary theories and
applications in finance and investment and the ability to critically evaluate such theories and practice.
3) Knowledge and understanding of current practices in finance
and investment, as well as a recognition of way that regulatory regimes affect the pricing and, measurement of financial instruments as well as the disclosure of information.
4) Knowledge of the quantitative and computing techniques
required to support the analysis of financial and investment theory and practice. The ability to use software like excel, Eviews, Reuters Eikon and R to retrieve and analyse financial and economic information.
5) Knowledge of the way that financial markets and investment
decisions are influenced by the environment within which these markets operate, in particular, the economic, legal, tax, regulatory and political environment.
6) Knowledge and understanding of the problems associated with
investment decisions, the raising of finance, the management of financial resources and an appreciation of risk and
5 Please refer to Course Development and Review Handbook or QAA website for details.
PART 2: COURSE DETAILS
Page 5 of 20 September 2015
uncertainty.
7) Knowledge and understanding of the relationship between
financial theory and empirical testing, including the use of mathematical and econometric knowledge to appraise empirical evidence and recognise its limitations.
Skills Includes intellectual skills (i.e. generic skills relating to academic study, problem solving, evaluation, research etc.) and professional/ practical skills.
On completion of study, a student should be able to demonstrate:
1) A capacity for critical evaluation of arguments and evidence
and to be able to apply particular skills and ideas to a variety of circumstances and a range of problems.
2) The ability to locate, extract and analyse information from
multiple sources and to be able to acknowledge and reference these sources.
3) The ability to manage their own research and work
independently as well as being able to function as part of a team.
4) The skills that will enable complex ideas to be presented orally
or in writing.
5) The ability to manage and present economic and financial data
in way that aids communication as well as an understanding of appropriate statistical techniques.
QAA subject benchmark statement (where applicable)6
Finance 2007.
PROFESSIONAL, STATUTORY AND REGULATORY BODIES (where applicable)
Where a course is accredited by a PSRB, full details of how the course meets external requirements, and what students are required to undertake, are included.
Accredited by the Association of Chartered Certified Accountants (ACCA) for the purpose of exemptions from some professional examinations.
Accredited by the Association of International Accountants (AIA) for the purpose of exemption from some professional examinations.
ACCA allow the following exemption for BSc. Finance and Investment students: Knowledge (papers F1, F2 and F3). Students taking the ‘Taxation’ (FA362) option at level 6 would also get exemption from F6.
CII allow the following exemptions: for the Financial Services qualification framework, 30 non unit specific credits at Advanced Diploma Level plus 25 non unit specific credits at Diploma Level; for the Insurance qualification framework, 25 non unit specific credits at Diploma plus unit 530 Business and Economics.
6 Please refer to the QAA website for details.
Page 6 of 20 September 2015
LEARNING AND TEACHING
Learning and teaching methods This section sets out the primary learning and teaching methods, including total learning hours and any specific requirements in terms of practical/ clinical-based learning. The indicative list of learning and teaching methods includes information on the proportion of the course delivered by each method and details where a particular method relates to a particular element of the course. The information included in this section complements that found in the Key Information Set (KIS), with the programme specification providing further information about the learning and teaching methods used on the course. All modules will involve a combination of taught sessions and guided independent study. For a typical double module, approximately a quarter of the 200 hours comprises taught sessions (2 hours per week for a 20 credit module running throughout the year). The remainder is guided independent study (which includes all work for assessment e.g. coursework and examination preparation).
ASSESSMENT
Assessment methods This section sets out the summative assessment methods on the course and includes details on where to find further information on the criteria used in assessing coursework. It also provides an assessment matrix which reflects the variety of modes of assessment, and the volume of assessment in the course. The information included in this section complements that found in the Key Information Set (KIS), with the programme specification providing further information about how the course is assessed.
The primary assessment methods across core modules are:
Examinations: demonstration of knowledge, understanding and ability to apply knowledge.
Reports, Essays and Projects (Group based/Individual): demonstration of independent research skills, evaluation/analytical skills, project management and written communication skills (this includes presentations on all levels - shown in appendix 3)
Seminar based assessment: demonstration of knowledge, analytical ability and verbal communication skills.
Other: including reflective study.
Page 7 of 20 September 2015
SUPPORT AND INFORMATION
Institutional/ University
All students benefit from: University induction week Student contract Course Handbook Extensive library facilities Computer pool rooms (98 workstations in Mithras House Annexe) E-mail address Welfare service Personal tutor for advice and guidance
Course-specific Additional support, specifically where courses have non- traditional patterns of delivery (e.g. distance learning and work- based learning) include:
Use of Reuters Eikon financial information system Eviews econometric package Rothman Interactive Trader (RIT) trading simulation R software with a number of packages, including investment analysis package (quantmod) CQG charting software
Page 8 of 20 September 2015
Financial Accounting
30
Corporate Analysis
20
Investment
Management 20
COURSE STRUCTURE
This section includes an outline of the structure of the programme, including stages of study and progression points. Course Leaders may choose to include a structure diagram here.
BSc(Hons) Finance and Investment
Level 4 Level 5 Level 6
Core Core Core
120 120 120
PART 3: COURSE SPECIFIC REGULATIONS
Introduction to Finance
30
Finance and Risk
Management
20
Advanced Treasury
Risk Management
20
Academic and Professional
Skills
20
Investment Case Study
20
Elective 1*
20
Professional Practice
20
Elective 2
20
BSc(Hons)
Finance and
Investment
Economics
20
International Financial
Economics
20
Applied Financial
Techniques
20
Financial Skills
20
Monetary Economics: Theory and
Policy
20
Economic & Legal
Regulation
20
Op
tion
al P
lac
em
en
t ye
ar in
ind
ustry
Page 9 of 20 September 2015
Status:
M = Mandatory (modules which must be taken and passed to be eligible for the award)
C = Compulsory (modules which must be taken to be eligible for the award)
O = Optional (optional modules)
A = Additional (modules which must be taken to be eligible for an award accredited by a professional, statutory or regulatory body, including any non-credit bearing modules)
Level7 Module code
Status Module title Credit
4 FA183 C Financial Accounting 30
4 FN162 C Introduction to Finance 30
4 EC161 C Economics 20
4 FN142 C Financial Skills 20
4 ML150 C Academic and Professional Skills 20
5 FN282 C Finance and Risk Management 20
5 CA273 C Investment Case Study 20
5 EC271 C International Financial Economics 20
5 EC284 C Monetary Economics: Theory and Policy 20
5 FA284 C Corporate Analysis 20
5 ML211 C Professional Practice 20
Core Modules
6 FN362 C Advanced Treasury Risk Management 20
6 FN369 C Investment Management 20
6 EC387 C Applied Financial Techniques 20
6 EC317 C Economic and Legal Regulation 20
Placement Students
6 DB319 O Placement Project 20
Specialist Optional Modules
6 DB361 O Dissertation 20
6 EC388 O Financial Econometrics 20
6 EC366 O Behavioural Economics 20
6 FN380 O International Finance 20
6 EC364 O Game Theory in Economics, Finance and Business 20
6 FA362 O Taxation 20
6 ST372 O Applied Strategy 20
7 All modules have learning outcomes commensurate with the FHEQ levels 0, 4, 5, 6, 7 and 8. List the level which
corresponds with the learning outcomes of each module.
AWARD AND CLASSIFICATION
Award type Award* Title Level Eligibility for award Classification of award
Total credits8 Minimum credits9
Ratio of marks10: Class of award
Final BSc(Ho ns)
Finance and Investment 6 Total credit 360 Minimum credit at level of award Select
Levels 5 and 6 (25:75) Honours degree
Intermediate BSc Finance and Investment 6 Total credit 300 Minimum credit at level of award Select
Levels 5 and 6 (25:75) Not applicable
Intermediate DipHE Finance and Investment 5 Total credit 240 including 120 at level 5.
Minimum credit at level of award Select
Level 5 marks Not applicable
Intermediate CertHe Finance and Investment 4 Total credit 120 at level 4.
Minimum credit at level of award Select
Level 4 marks Not applicable
Select Select Total credit Select Minimum credit at level of award Select
Select Not applicable
*Foundation degrees only Progression routes from award:
Award classifications Mark/ band % Foundation degree Honours degree Postgraduate11 degree (excludes PGCE and BM BS)
70% - 100% Distinction First (1) Distinction 60% - 69.99% Merit Upper second (2:1) Merit 50% - 59.99%
Pass Lower second (2:2) Pass
40% - 49.99% Third (3)
8 Total number of credits required to be eligible for the award.
9 Minimum number of credits required, at level of award, to be eligible for the award.
10 Algorithm used to determine the classification of the final award (all marks are credit-weighted). For a Masters degree, the mark for the final element (e.g., dissertation) must be in the corresponding
class of award. 11
Refers to taught provision: PG Cert, PG Dip, Masters.
Page 10 of 20
Page 11 of 20
EXAMINATION AND ASSESSMENT REGULATIONS
Please refer to the Course Approval and Review Handbook when completing this section.
The examination and assessment regulations for the course should be in accordance with the University’s General Examination and Assessment Regulations for Taught Courses (available from staffcentral or studentcentral).
Specific regulations which materially affect assessment, progression and award on the course E.g. Where referrals or repeat of modules are not permitted in line with the University’s General Examination and Assessment Regulations for Taught Courses.
In line with the previous Programme Specification, normally no referrals at Level 6 will be allowed.
Exceptions required by PSRB These require the approval of the Chair of the Academic Board
Normally a pass mark of 40%, minimum of 35% threshold.
Page 12 of 20
Appendix to Programme Specifications Mapping of Assessment Methods on Core Modules
Assessment: BSc(Hons) Finance and Investment
Level 4
FA
183
: F
ina
ncia
l A
cco
un
tin
g
FN
162
: In
tro
du
cti
on
to
Fin
an
ce
FN
142
: F
ina
ncia
l S
kills
EC
161
: E
co
no
mic
s
ML
15
0:
Ac
ad
em
ic a
nd
Pro
fess
ion
al S
kills
Level 4- Looking for a balance:
o Individual and group
o Academic and business
writing
o Verbal and written
assessments
o Application and theory
o Recall and use
Learning to be a student:
Introduction to using literature,
learning subject fundamentals,
learning to apply techniques,
learning to be independent,
becoming effective presenters,
becoming team players
CATS 30 30 20 20 20
Assessment
Individual
Assignment
Group
Assignment
Report
Essay
Exam
Exercise
Presentation
Portfolio
Page 13 of 20
Level 5
FA
284
: C
orp
ora
te A
naly
sis
FN
282
: F
ina
nc
e a
nd
Ris
k M
gt
EC
271
: In
t’l
Fin
an
cia
l E
co
no
mic
s
EC
284
: M
on
eta
ry E
co
no
mic
s
CA
273
: In
ve
stm
en
t C
ase
Stu
dy
ML
21
1:
Fin
an
cia
l a
nd
Pro
fess
ion
al S
kills
Level 5- Looking for a balance
plus at least one each of:
o Case Study
o Proposal
o Literature Review
o Research design
Developing use of literature,
learning to test ideas,
becoming competent
practitioners, learning to
synthesise ideas from different
subject/ topic areas,
professional presenters,
effective team workers
CATS 20 20 20 20 20 20
Assessment
Individual
Assignment
Group Assignment
Report
Essay
Exam
Exercise/Build
Presentation
Case Study
Proposal
Literature activity
Research Design
Portfolio
Page 14 of 20
Level 6
FF
N3
69
: In
ve
stm
en
t
Ma
na
ge
me
nt
FN
362
: A
dva
nc
ed
Tre
as
ury
Ris
k M
an
ag
em
en
t
EC
317
: E
co
no
mic
an
d L
eg
al
Re
gu
lati
on
EC
387
: A
pp
lie
d F
ina
nc
ial
Tec
hn
iqu
es
(D
eali
ng
Ro
om
)
Op
tio
na
l M
od
ule
s
Level 6- Looking for a balance
to ensure mostly individual
work
Sound knowledge base,
confident users of literature,
researchers, critical thinkers,
innovators/ problem solvers/
creative thinkers, self –aware
professionals
CATS 20 20 20 20 40
Assessment
Individual
Assignment
Group Assignment
Report
Essay
Exam
Exercise/Build
Presentation
Case Study
Proposal
Research Project
Portfolio
BS
c(H
on
s) F
ina
nce a
nd
Inves
tmen
t – P
artia
lly S
atis
fyin
g Q
AA
Su
bje
ct B
en
ch
mark
s fo
r SIN
GL
E H
on
ou
rs in
Fin
an
ce
Su
bje
ct s
pecific
kn
ow
led
ge a
nd
sk
ills: O
n c
om
ple
tion o
f a d
egre
e
covere
d b
y th
is s
ub
ject b
en
chm
ark
sta
tem
ent, a
stu
de
nt s
hou
ld
norm
ally
have th
e fo
llow
ing
subje
ct-s
pecific
kno
wle
dge
and
skills
.
FA183
Financial Accounting (30)
FN162 Introduction to Finance(30)
EC161 Economics (20)
FN142 Financial Skills (20)
ML150 Academic and Professional
Skills (20)
FA284 Corporate Analysis (20)
FN282 Finance and Risk Management
(20)
EC271 International al Financial
Economics (20)
EC284 Monetary Economics (20)
ML211 Financial and professional skills
(20)
CA273 Investment Case Study Analysis
(20)
FN369 Investment Management (20)
FN362 Advanced Treasury Risk
Management (20)
EC317 Economic and Legal
Regulation (20)
EC387 Applied Financial Techniques
(Dealing Room) (20)
Options (40)
Ap
pen
dix
- Ma
pp
ing
of C
ou
rse L
ea
rnin
g O
utc
om
es to
QA
A B
en
ch
mark
s
Pag
e 1
5 o
f 20
Page 16 of 20
An appreciation of the nature of the contexts in which finance can be
seen as operating, including knowledge of the institutional framework
necessary for understanding the role, operation and function of markets
and financial institutions (e.g. the economic, legal, regulatory and tax
environment, both national and international; the firm; the capital
markets and the public sector).
X
X
X
X
X
X
X
X
X
X
X
X
A knowledge of the major theoretical tools and theories of finance, and
their relevance and application to theoretical and practical problems
(e.g. concept of arbitrage and examples of its use; financial
mathematics and capital budgeting criteria; informational efficiency;
optimal risk sharing; portfolio theory; asset pricing models and the
valuation of securities; cost of capital; derivative pricing; risk
management; information asymmetry; principal agency relationships;
signalling; Fisher separation and capital budgeting criteria; behavioural
finance; term structure and the movement of interest rates;
determination of exchange rates and financial intermediation).
X
X
X
X
X
X
X
X
X
X
X
X
X
An ability to interpret financial data including that arising in the context
of the firm or household from accounting statements and data
generated in financial markets. The interpretation may involve analysis
using statistical and financial functions and procedures such as are
routinely available in spreadsheets (e.g. Microsoft Excel) and statistical
packages. It may assume the skills necessary to manipulate financial
data and carry out statistical and econometric tests (e.g. estimation and
interpretation of asset pricing models; financial modelling and
projections; event studies and residuals analysis; elements of time
series analysis, such as serial correlation mean reversion, and
stochastic volatility).
X
X
X
X
X
X
X
X
X
X
Page 17 of 20
An understanding of the relationship between financial theory and
empirical testing, and application of this knowledge to the appraisal of
the empirical evidence in at least one major theoretical area. The
appraisal should involve some recognition of the limitation and
evolution of empirical tests and theory (e.g. the efficient markets
hypothesis; anomalies; pricing of derivatives and other securities; bond
portfolio management; exchange rates; raising capital and capital
structure).
X
X
X
X
X
X
X
X
X
X
An understanding of the financing arrangements and governance
structures of business entities, and an appreciation of how theory and
evidence can be combined to assess the effectiveness and efficiency
of such arrangements (e.g. decisions as to sources of finance and
financial structure; the pricing of corporate securities; the market for
corporate control; corporate governance structures and mechanisms;
financial planning and international dimensions of finance).
X
X
X
X
X
X
X
X
X
X
An understanding of the factors influencing the investment behaviour
and opportunities of private individuals (bonds, equities, and
derivatives; risk aversion; risk/return trade-offs; portfolio management
and performance measurement; pensions and long term savings; the
tax treatment of savings and investments; international diversification;
forex risk; objectives of and constraints on institutional investors and
advisors).
X
X
X
X
X
X
X
X
X
Page 18 of 20
An understanding of financial service activity in the economy, and an
appreciation of how finance theory and evidence can be employed to
interpret these services (for example, information asymmetry, adverse
selection and moral hazard could be employed to analyse the
fundamental nature of services, such as insurance, pensions, bank
lending and consumer credit, and also explore fundamental problems
arising in such financial service provision. Efficient market hypothesis
could be used to explore evidence for fund manager performance and
the effectiveness of equity and bond saving services).
X
X
X
X
X
X
X
X
X
X
X
An ability to understand financial statements, and a basic appreciation
of the limitations of financial reporting practices and procedures (e.g.
financial statement analysis; the relation between cash flow accounting
and accrual accounting; discretionary accounting practices; and the
nature of accounting measures of financial performance).
X
X
X
X
X
X
Page 19 of 20
BSc(Hons) Finance and Investment – Partially Satisfying QAA Subject Benchmarks for SINGLE Honours in Finance
Cognitive abilities and generic skills. On completion of a degree covered by
this subject benchmark statement, a student should have the following abilities
and skills:
Fin
ancia
l A
ccou
ntin
g (3
0)
Intr
od
uctio
n to
Fin
ance
(30
)
Eco
nom
ics (
20
)
Fin
ancia
l S
kill
s (20
)
Aca
dem
ic a
nd
Pro
fessio
na
l S
kill
s (2
0)
Corp
ora
te A
naly
sis
(20
)
Fin
ance
an
d R
isk M
an
age
ment (2
0)
Inte
rnation
al a
l F
ina
ncia
l E
co
no
mic
s (2
0)
Mo
neta
ry E
con
om
ics (20
)
Fin
ancia
l an
d p
rofe
ssio
nal skill
s (2
0)
Investm
en
t C
ase
Stu
dy A
naly
sis
(20
)
Investm
en
t M
ana
gem
en
t (2
0)
Ad
va
nce
d T
reasu
ry R
isk M
ana
ge
me
nt (
20
)
Eco
nom
ic a
nd
Leg
al R
eg
ula
tion
(2
0)
Ap
plie
d
Fin
ancia
l T
ech
niq
ues
(Dea
ling
R
oom
)
(20
)
Op
tio
ns (
40
)
FA
18
3
FN
162
EC
16
1
FN
142
ML15
0
FA
28
4
FN
282
EC
27
1
EC
28
4
ML21
1
CA
27
3
FN
369
FN
362
EC
31
7
EC
38
7
A capacity for the critical evaluation of arguments and evidence X X X X X X X X X X X X X X X
An ability to analyse and draw reasoned conclusions concerning structured
and, to a more limited extent, unstructured problems from a given set of data
and from data which must be acquired by the student
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Ability to locate, extract and analyse data from multiple sources, including the
acknowledgement and referencing of sources X X X
X X X X X X X X X X X X
Numeracy skills, including the ability to manipulate financial and other
numerical data and to appreciate statistical concepts at an appropriate level X X
X
X X X X X X X X X X X
Skills in the use of communication and information technology in acquiring,
analysing and communicating information (these skills include the use of
spreadsheets, word processing software, standard statistical packages;
electronic financial databases; the internet and email)
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Communication skills including the ability to present quantitative and qualitative X X X X X X X X X X X X X X X X
Page 20 of 20
information together with analysis, argument and commentary in a form
appropriate to different intended audiences
Capacities for independent and self-managed learning X X X X X X X X
Normally, experience of working in groups, and other interpersonal skills, and
in presenting the results of their work orally as well as in written form
X
X X
X X X
X