Module Catalogue - Year 3 - Cardiff Business School - Cardiff ...

MODULE CATALOGUE 

AND 

METHODS OF ASSESSMENT 

FOR ALL 

UNDERGRADUATE DEGREE PROGRAMMES 

Final Year 

2011 – 2012

EXCLUSION CLAUSE 

All students are notified that the modules advertised or referred to in this catalogue are liable to be 

changed or withdrawn both before or after selection, for any reason including those set out below. 

Cardiff University accepts no responsibility for any such changes or withdrawals of modules and 

students select modules at their own risk. 

Reasons which may cause the change or withdrawal of modules include the loss of any key member 

of staff or insufficient take-up of modules by students; this list is not exhaustive. 

TIMETABLING CONSTRAINTS 

Whilst every effort is made to ensure that the modules offered within a particular degree programme 

are open to all students on that programme, there may be occasions when certain combinations of 

option modules cannot be timetabled and such combinations will not therefore be available. 

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CONTENTS MODULE CATALOGUE 

CONTENTS 

REGULATIONS ...................................................................................................................... 1 

GENERAL .............................................................................................................................. 36 

1. Dates of Semesters ................................................................................................... 36 

2. Programme Regulations ............................................................................................ 36 

3. Programme Details .................................................................................................... 36 

4. Examining Board ....................................................................................................... 36 

4.1 Chair .............................................................................................................. 36 

4.2 Exam Board Conventions ................................................................................. 36 

PROGRAMME STRUCTURE .................................................................................................. 41 

BSc Accounting 

BSc Econ Accounting & Economics 

BSc Accounting & Finance 

BSc Econ Accounting & Management 

BSc Econ Banking & Finance 

BSc Business Management (all programmes) 

BSc Business Management & Finance 

BSc Econ Business Economics 

BSc Business Studies & Japanese 

BSc Econ Economics 

BSc Econ Economics & Finance 

BSc Econ Economics and Management Studies 

BSc Accounting with a European Language 

BSc Econ Banking & Finance with a European Language 

BSc Econ Business Economics with a European Language 

BSc Business Management with a European Language 

BSc Economics with a European Language 

BSc Econ Economics and Sociology 

BSc Econ Economics and Politics 

BA in Economics with a Humanities Subject 

BA Japanese with a Language 

MODULE DESCRIPTIONS .................................................................................................... 67 

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PAGE

REGULATIONS MODULE CATALOGUE 

REGULATIONS FOR THE MODULAR PROGRAMME LEADING TO 

THE DEGREE OF 

BSc IN BUSINESS MANAGEMENT (ALL PROGRAMMES)* 

BSc ECON IN BANKING AND FINANCE 

BSc ECON IN BUSINESS ECONOMICS 

BSc ECON IN ECONOMICS 

BSc ECON IN ECONOMICS & FINANCE 

BSc ECON IN ECONOMICS AND MANAGEMENT STUDIES 

*Regulations relating to the degree of BSc Business Management (International 

Management – Route 2 – Semester Abroad) can be found on pages 7-11. 

1 GENERAL 

These regulations shall conform with the General Regulations of Cardiff University for 

Undergraduate Modular Programmes. 

2 ENTRY REQUIREMENTS 

In addition to satisfying the University General Requirement for entry to an undergraduate 

programme, candidates for admission shall normally be required: 

(1) to have reached a minimum age of 17 years on 1 October of the year of entry to the 

programme and 

(2) to have obtained a GCSE/GCE “O” Level pass in the following subjects at the 

following grades or above: 

English Language (C) 

Mathematics (B) 

or equivalent qualifications which are acceptable to the Selector. 

3 STRUCTURE OF THE PROGRAMME 

The programme is a full-time programme which shall extend for three years, and shall 

comprise six semesters. 

4 TIME LIMIT 

The time limit for completion of the programme shall be in accordance with the Cardiff 

University Regulations for Modular Initial Degrees. 

5 PROGRAMME 

The Programme shall comprise the modules detailed in the attached Module Timetable which 

forms part of these regulations. 

6 ASSESSMENT 

6.1 Examinations and Assessments shall be conducted in accordance with Cardiff 

University Regulations and Standing Orders. 

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MODULE CATALOGUE REGULATIONS 

6.2 The method of assessment for each module shall be determined by the School Board 

upon the recommendation of the Boards of Studies and shall be specified in the 

approved module proforma and schedule of assessment. 

7 PROGRESSION 

7.1 General 

7.1.1 At the end of the Spring Semester, a meeting of the Examining Board shall 

consider the performance of each candidate in each module completed 

during the course of the Autumn and Spring semesters. The meeting of the 

Examining Board shall consider the performance of candidates in each of the 

elements of assessment specified in the appropriate module proforma. 

7.1.2 In accordance with the Senate Regulations for Modular Undergraduate 

Programmes, a candidate shall only be permitted to continue to pursue a 

programme provided that he/she is able to complete the programme, and do 

so within the approved time limit. 

7.1.3 Where a student is permitted by the Examining Board to retrieve a failed 

module, they shall attempt that module on each available occasion, or as 

prescribed by the Examining Board, up to a maximum of three failures in 

total. Absence from a resit examination shall only be condoned by the 

Examination Board on the production of evidence of reasonable extenuating 

circumstances. 

7.2 Full-time Programme 

YEAR ONE 

7.2.1 At the end of Year One, the Examining Board shall consider the progress of 

each candidate in each module pursued during the Autumn and Spring 

Semesters in accordance with Senate Regulations and shall determine 

whether he/she: 

(i) has obtained a minimum of 120 credits at Level One or higher and 

shall be permitted to proceed to the next academic stage of the 

programme; 

(ii) has not obtained sufficient credits to proceed to the next academic 

stage of the programme but has obtained a minimum of 60 credits 

and may be permitted to attempt one or more referred assessments 

prior to the commencement of the next academic session; 

(iii) is not eligible to proceed to the next academic stage of the 

programme but may be granted the opportunity to retrieve the failed 

modules in accordance with the provisions of Senate Regulations for 

Modular Undergraduate Programmes. 

7.2.2 Where a candidate is permitted to attempt one or more referred assessments 

prior to the commencement of the second academic year, the Examining 

Board shall meet again to consider the performance of each candidate in 

these referred assessments in accordance with Senate Regulations and shall 

determine whether he/she: 

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YEAR TWO 



programme; 

(ii) is not eligible to proceed to the next academic stage of the 


module(s) in accordance with the provisions of Senate Regulations 

for Modular Undergraduate Programmes. 

7.2.3 At the end of Year Two, the Examining Board shall consider the progress of 




(i) has obtained at least 240 credits, including the following: 

- a minimum of 120 credits at Level One or higher; 

and 

- a minimum of 120 credits at Level Two or higher 

and shall be permitted to proceed to the next academic stage of the 

programme; 


stage of the programme but has obtained a minimum of 180 credits, 

including the following: 


and 








7.2.4 Where a candidate is permitted to attempt to retrieve one or more failed 

module assessments prior to the commencement of the third academic year, 

the Examining Board shall meet again to consider the performance of each 

candidate in these assessments in accordance with Senate Regulations and 

shall determine whether he/she: 



and 



programme; 

(ii) has obtained at least 220 credits, including the following: 

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and 


and may be permitted to proceed to the next academic stage of the 

programme carrying one or more failed modules at Level Two, the 

total value of which shall not exceed 20 credits; 

(iii) is not eligible to proceed to the next academic stage but may be 

granted the opportunity to retrieve the failed module(s) in 

accordance with the provisions of Senate Regulations for Modular 

Undergraduate Programmes. 

7.2.5 where a student is permitted to proceed to the next academic stage of the 

programme carrying one or more failed modules at Level Two, he/she may 

be permitted to retrieve those modules during any examination period when 

those modules would normally be assessed, including the resit period, 

provided that no more than three attempts are made at any individual 

module. Where a student fails a core module on three occasions he/she shall 

be required to withdraw from the programme. 

7.2.6 Modules may not be retrieved once the student is eligible for the award of a 

degree, i.e., once a meeting of the Examining Board has considered his/her 

performance and he/she is deemed to have satisfied the requirements of 

Section 7.2.7 (i) below. 

YEAR THREE 

7.2.7 At the end of Year Three, the Examining Board shall further consider the 

progress of each candidate in each module pursued during the Autumn and 

Spring Semesters in accordance with paragraph 11 of Senate Regulations 

and shall determine whether he/she: 

(i) has obtained at least 340 credits including the following: 

- a minimum of 120 credits at Level One or higher 


- a minimum of 100 credits at Level Three or higher 

and may be eligible for the award of an honours degree. 

(ii) has obtained fewer than 340 credits and may be permitted to 

attempt to retrieve one or more failed modules. 

(iii) has obtained at least 320 credits including the following: 




and may be eligible for the award of a pass degree. 


following completion of their final year of study, the Examining Board shall 

meet again to consider the performance of each candidate in these referred 

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8 AWARD OF DEGREE 

assessments in accordance with Senate Regulations and shall determine 








attempt to retrieve one or more failed modules, provided this can be 

done within the time limits for the degree programme. 






8.1 In order to qualify for the award of an honours degree, a candidate shall be required 

to have satisfied the criteria detailed in Senate Regulations. 

8.2 The classification of degree shall be determined by the Examining Board following 

completion of the degree. 

8.3 The classification shall be determined in accordance with the procedures described in 

Senate Regulations and shall be based upon the performance of each candidate in 

the Level Two and Level Three modules pursued by the candidate as part of his/her 

degree programme. 

8.4 In assessing a candidate’s final degree classification a weight of 1/30 shall be 

attached to the single modules at Level Two, a weight of 1/15 shall be attached to 

the double modules at Level Two, a weight of 1/20 shall be attached to the single 

modules at Level Three and a weight of 1/10 shall to the double modules at Level 

Three listed in the module timetable.* 

8.5 The final degree classification shall be determined by the Examining Board by 

applying the candidate’s overall result, which is calculated in accordance with the 

procedures described above, to the University-wide scale detailed in Senate 

Regulations. 

8.6 A candidate who fails to qualify for the award of an honours degree or a pass degree 

shall be dealt with in accordance with Senate regulations. 

NB Regulations may be subject to change. The regulations detailed here are those which apply 

at the time of printing. 

* These weightings have been agreed by Boards of Studies in accordance with Regulations. 

The weight given to second and final years (40/60 respectively) reflects the importance of 

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advanced material studied in the final year and places greater emphasis on a student’s 

performance in the final year. 

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REGULATIONS FOR THE MODULAR PROGRAMME LEADING TO THE DEGREE OF BSC 

BUSINESS MANAGEMENT (INTERNATIONAL MANAGEMENT – ROUTE 2 – SEMESTER 

ABROAD) 

NB To be eligible to apply to study abroad in an international partner institution students will: 

• Have completed the first year of the recognised degree courses at Cardiff Business School 

under the Undergraduate Business Management Programme, that is, BSc Business 

Management (General), BSc Business Management (International Management), BSc 

Business Management (Marketing), BSc Business Management (Logistics and Operations), 

Business Management (Human Resource Management). 

• Have met or exceeded each of the following academic performance criteria during the first 

year of the recognised degree: 

1. GENERAL 

• A minimum overall average mark of 60% for the first year; and 

• A minimum of 40% across all modules at first sitting; 

• In addition students eligible to apply for this route will be asked to take part in an 

informal interview with the Semester Abroad Co-ordinator. This interview will be a 

two-way communication between the student and the SAC to discuss: 

o Preferences of country, institution; 

o Advice and recommendations for module choices at preferred institutions; 

o Suitability for study abroad. 




AAB in the three best A Levels with a minimum of grade B in Maths and C in English GCSE. 

Subjects Acceptable 

All subjects, except General Studies, are accepted by the School. 



comprise: 

(a) three semesters of academic study at Cardiff University, 

(b) one semester studying abroad at a partner institution, 

(c) two semesters of academic study at Cardiff University. 

4 TIME LIMIT 

The time limit for completion of the programme shall be in accordance with Cardiff University 

Regulations for Modular initial degrees. 

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5 PROGRAMME 



6 ASSESSMENT 




upon the recommendation of the Boards of Study and shall be specified in the 


7 PROGRESSION 

7.1 General 

















YEAR ONE 





YEAR TWO 



programme; 





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- a minimum of 120 credits at Level One or higher; and 

- a minimum of 120 credits at Level Two (or equivalent for 

international partners) or higher 


programme; 


stage but has obtained a minimum of 180 credits, including the 

following: 


and 


and may be permitted to attempt one of more referred assessments 













and 



programme. 



and 


and may be permitted to proceed to the next academic stage 

of the programme carrying one or more failed modules at 

Level Two, the total value of which shall not exceed 20 

credits; 





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YEAR THREE 


7.2.6 At the end of Year Four, the Examining Board shall consider the progress of 





















Senate Regulations and shall be based on the performance of each candidate in Level 

Two and Level Three modules pursued by the candidate as part of his/her degree 

programme. 

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modules at Level Three and a weight of 1/10 shall to the double modules at Level 

Three listed in the module timetable.* 




Regulations. 









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THE DEGREE OF 

BSc IN ACCOUNTING* 

BSc ECON IN ACCOUNTING AND ECONOMICS 

BSc IN ACCOUNTING AND FINANCE* 

BSc ECON IN ACCOUNTING AND MANAGEMENT 

BSc IN BUSINESS MANAGEMENT AND FINANCE 

*Regulations relating to the degree of BSc Accounting and BSc Accounting and Finance with the 

ICAEW Placement can be found on pages 18-24. 

1 GENERAL 







programme and 








comprise six semesters. 

4 TIME LIMIT 


Regulations for Modular Initial Degrees. 

5 PROGRAMME 



6 ASSESSMENT 






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6.3 In achieving the minimum mark of 40% in order to pass each module, students will 

be required to obtain a minimum mark of 35% in each significant element of 

assessment. 

7 PROGRESSION 

7.1 General 

6.3.1 An element of assessment shall be defined as: 

i each examination where the module is assessed by more than one 

examination; 

ii each examination where the module is assessed by a combination of 

examination and coursework; 

iii the total number of coursework pieces where the module is assessed 

by a combination of examination and coursework; 

iv the total number of coursework pieces where the model is assessed 

by more than one element of coursework. 

6.3.2 A significant element of assessment shall be defined as one which 

contributes more than 10% to the final mark for that module. 

















YEAR ONE 







programme; 



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YEAR TWO 



programme; 











and 



programme; 





and 










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and 



programme; 



and 




















YEAR THREE 

7.2.7 At the end of Year Three, the Examining Board shall further consider the 

progress of each candidate in each module pursued during the Autumn and 

Spring Semesters in accordance with paragraph 11 of Senate Regulations 







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assessments in accordance with Senate Regulations and shall determine 




















Senate Regulations and shall be based upon the performance of each candidate in 

the Level Two and Level Three modules pursued by the candidate as part of his/her 

degree programme. 




modules at Level Three and a weight of 1/10 shall be attached to the double modules 

at Level Three listed in the module timetable.* 



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Regulations. 









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REGULATIONS FOR THE ICAEW PLACEMENT ROUTE OF THE MODULAR PROGRAMME 

LEADING TO THE DEGREE OF BSc ACCOUNTING AND BSc ACCOUNTING & FINANCE* 

* Only students meeting the eligibility requirements will be invited to participate in the placement 

programme. Places are strictly limited and it is anticipated that not all eligible students who apply will 

be chosen. As well as a good performance in first year, students will need a strong curriculum vitae 

and success at interview. 

1 GENERAL 







programme and 

(2) to have obtained a GCSE/GCE “O” Level pass in the following subjects at Grade B or 

above: 

English Language 

Mathematics 


(3) to have met or exceeded each of the following academic performance criteria 

during the first year of the BSc Accounting or BSc Accounting & Finance degree: 

For each Level One module, the higher of a pass mark or the mark specified by the 

ICAEW to achieve their ‘credit for prior learning’; and 

A minimum average mark of 60% for the first year; and 

A minimum mark of 60% for accounting specific modules at Level One. 

(4) to participate successfully in a rigorous application and interview process organised 

by the University and the employing firm(s). 


The programme is a full-time programme which shall extend for four years, and shall 

comprise: 

(a) four semesters of academic study at Cardiff University, 

(b) a one year work placement in a professional accountancy firm or a business 

environment under the ICAEW’s Undergraduate Partnership Programme, 


4 TIME LIMIT 

The time limit for completion of the programme shall be in accordance with Cardiff 

University Regulations for Modular initial degrees. 

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5 PROGRAMME 

The Programme shall comprise the modules detailed in the attached Module Timetable 

which forms part of these regulations. 

6 ASSESSMENT 



6.2 The method of assessment for each module shall be determined by the School 

Board upon the recommendation of the Boards of Studies and shall be specified 

in the approved module proforma and schedule of assessment. 



assessment. 

7 PROGRESSION 

7.1 General 

6.3.1 An element of assessment shall be defined as: 


examination; 



iii the total number of coursework pieces where the module is 

assessed by a combination of examination and coursework; 



6.3.2 A significant element of assessment shall be defined as one which 

contributes more than 10% to the final mark for that module. 




Examining Board shall consider the performance of candidates in each of 

the elements of assessment specified in the appropriate module proforma. 

The Examining Board shall also meet after the completion of the placement 

year to consider the performance of students during their period of work 

experience and in the associated elements of assessment. 



programme provided that he/she is able to complete the programme, and 

do so within the approved time limit. 

7.1.5 Where a student is permitted by the Examination Board to retrieve a failed 


prescribed by the Examination Board, up to a maximum of three failures in 


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YEAR ONE 

Examination Board on the production of evidence of reasonable special 








programme; 






programme but may be granted the opportunity to retrieve the 

failed modules in accordance with the provisions of Senate 

Regulations for Modular Undergraduate Programmes. 

7.2.2 Where a candidate is permitted to attempt one or more referred 

assessments prior to the commencement of the second academic year, the 

Examining Board shall meet again to consider the performance of each 

candidate in these referred assessments in accordance with Senate 

Regulations and shall determine whether he/she: 

YEAR TWO 



programme; 



failed module(s) in accordance with the provisions of Senate 








and 


and shall be permitted to proceed to the next academic stage of 

the programme; 

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and 






failed module(s) in accordance with the provisions of Senate 



module assessments prior to the commencement of the third academic 

year, the Examining Board shall meet again to consider the performance of 

each candidate in these assessments in accordance with Senate Regulations 




and 


and shall be permitted to proceed to the next academic stage of 

the programme; 



and 











be permitted to retrieve those modules during any examination period 

when those modules would normally be assessed, including the resit period, 


module. Where a student fails a core module on three occasions he/she 

shall be required to withdraw from the programme. 

7.2.6 Modules may not be retrieved once the student is eligible for the award of 

a degree, i.e., once a meeting of the Examining Board has considered 

his/her performance and he/she is deemed to have satisfied the 

requirements of Section 7.2.8 (i) below. 

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YEAR THREE 

7.2.7 In order to proceed to the next stage of the degree programme, a student 

must complete, to the satisfaction of the University, a one year work 

placement in a professional accountancy firm or a business environment. 

The Examining Board shall meet after the completion of the placement year 

to consider the performance of students during their period of work 

experience and in the associated elements of assessment. 

YEAR FOUR 

Students who do not complete the placement to the satisfaction of the 

University will not normally be permitted to be reassessed. 

At the discretion of the School Board, a candidate who does not complete a 

placement to the satisfaction of the University may be permitted to 

transfer to the corresponding degree programme which does not include a 

work placement. 








- a minimum of 120 credits at Level S or higher 

- a minimum of 100 credits at Level F or higher 










7.2.9 Where a candidate is permitted to attempt one or more referred 

assessments following completion of their final year of study, the Examining 


these referred assessments in accordance with paragraph 11 of Senate 

Regulations and shall determine whether he/she: 






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attempt to retrieve one or more failed modules, provided this can 

be done within the time limits for the degree programme. 







8.1 In order to qualify for the award of an honours degree, a candidate shall be 

required to have satisfied the criteria detailed in Senate Regulations. 



8.3 The classification shall be determined in accordance with the procedures described 

in Senate Regulations and shall be based on the performance of each candidate in 

Level Two and Level F modules pursued by the candidate as part of his/her degree 

programme. Progression to Level F shall be determined in light of performance on 

the placement year (Level S), credit for which shall be awarded on a pass/fail 

basis. The results achieved at Level S shall not normally contribute to 

Classification. 




modules at Level F and a weight of 1/10 shall be attached to the double modules at 

Level F listed in the module timetable.* 




Regulations. 

8.6 A candidate who fails to qualify for the award of an honours degree or a pass 

degree shall be dealt with in accordance with Senate regulations. 







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THE DEGREE OF 

BSc IN BUSINESS MANAGEMENT WITH A EUROPEAN LANGUAGE 

BSc IN ECON ECONOMICS WITH A EUROPEAN LANGUAGE 

BSc IN ECON BANKING & FINANCE WITH A EUROPEAN LANGUAGE 

BSc IN ECON BUSINESS ECONOMICS WITH A EUROPEAN LANGUAGE 

AND 

BSc BUSINESS STUDIES AND JAPANESE. 

1 GENERAL 







programme and 





or equivalent qualifications which are acceptable to the Selector and 

(3) in the case of Degrees with a European language, to have obtained a pass in the 

modern foreign language chosen at GCE Advanced Level or equivalent qualifications 

which are acceptable to the Selectors. 


The programme is a full-time programme which shall extend for four years, and shall comprise 


(b) an intercalated year of study at a university in the country whose language is part of 

the student’s degree programme, 


4 TIME LIMIT 



5 PROGRAMME 



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6 ASSESSMENT 






7 PROGRESSION 

7.1 General 

















YEAR ONE 







programme; 












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YEAR TWO 





programme; 











and 



programme; 





and 















and 


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programme; 



and 




















YEAR THREE 


must complete, to the satisfaction of the University, an intercalated year of 

study at a university abroad. In the case of Business Studies & Japanese, 

this will be in Japan, for degrees with a language, this will be a European 

country of the language of the degree programme. 

YEAR FOUR 

At the discretion of the School Board, a candidate who does not complete an 

intercalated year of study to the satisfaction of the University may be 

permitted; 

- to repeat the intercalated year of study, on one occasion only; 

- to transfer to a different degree programme which does not include 

an intercalated year of study. 






-27



















assessments in accordance with paragraph 11 of Senate Regulations and 







- and may be eligible for the award of an honours degree. 



done within the time limit for the degree programme. 











8.3.1 Degree Programmes with a European Language 

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The classification shall be determined in accordance with the procedures 

described in Senate Regulations and shall be based on the performance of 

each candidate in Level Two and Level Three modules pursued by the 

candidate as part of his/her degree programme. Progression to Level Three 

shall be determined in light of performance on the Intercalary Year (Level S), 

credit for which shall be awarded on a pass/fail basis. The results achieved at 

Level S shall not normally contribute to Classification. 

8.3.2 Business Studies and Japanese 

The classification shall be determined in accordance with the procedures 

described in Senate Regulations and shall be based on the performance of 

each candidate in Level Two, the intercalary year (Level S), and Level Three 

modules. 

8.4 In assessing a candidate’s final degree classification, the following weights shall apply 

to the modules in the Module Timetable accompanying these Regulations: 

8.4.1 Degree Programmes with a European Language* 

Level Two CARBS Modules (60 credits) 15% (5% per 20 credit module) 

Level Two Language Modules (60 credits) 15% (2.5% per 10 credit module) 

Level Three CARBS Modules (100 credits) 55% (11% per 20 credit module) 

Level Three Language Module (20 credits) 15% 

8.4.2 Business Studies and Japanese 

In assessing a candidate’s final degree classification the following weights 

shall apply to the modules in the Module Timetable accompanying these 

Regulations: 

BS2596 Japanese Language 2A (Level 2) 5% 

BS2597 Japanese Language 2B (Level 2) 5% 

BS2595 Modern Japanese Society (Level 2) 5% 

The three Business Studies modules at level two shall be accorded 6.666% 

each. 

Intercalary study programme in Japan (Level S) 5% 

Each level 3 Japanese 30-credit module shall be accorded a weight of 15% 




Regulations. 









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THE DEGREE OF 

BSc IN ACCOUNTING WITH A EUROPEAN LANGUAGE 

1 GENERAL 







programme and 





or equivalent qualifications which are acceptable to the Selector and 

(3) to have obtained a pass in the modern foreign language chosen at GCE Advanced 

Level or equivalent qualifications which are acceptable to the Selectors. 


The programme is a full-time programme which shall extend for four years, and shall comprise 


(b) an intercalated year of study at a university in the country whose language is part of 

the student’s degree programme, 


4 TIME LIMIT 



5 PROGRAMME 



6 ASSESSMENT 



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assessment. 

7 PROGRESSION 

7.1 General 

6.3.1 An element of assessment shall be defined as 


examination; 



iii the total number of coursework pieces where the module is assessed 

by a combination of examination and coursework; 



6.3.2 A significant element of assessment shall be defined as one which contributes 

more than 10% to the final mark for that module. 

















YEAR ONE 





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programme; 














YEAR TWO 



programme; 











and 



programme; 





and 




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and 



programme; 



and 




















YEAR THREE 


must complete, to the satisfaction of the University, an intercalated year of 

study at a university in a European country of the language of the degree 

programme. 

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YEAR FOUR 

At the discretion of the School Board, a candidate who does not complete an 

intercalated year of study to the satisfaction of the University may be 

permitted; 

- to repeat the intercalated year of study, on one occasion only; 

- to transfer to a different degree programme which does not include 

an intercalated year of study. 






















assessments in accordance with paragraph 11 of Senate Regulations and 







- and may be eligible for the award of an honours degree. 






-34-












Senate Regulations and shall be based on the performance of each candidate in Level 

Two and Level Three modules pursued by the candidate as part of his/her degree 

programme. Progression to Level Three shall be determined in light of performance 

on the Intercalary Year (Level S), credit for which shall be awarded on a pass/fail 

basis. The results achieved at Level S shall not normally contribute to Classification. 

8.4 In assessing a candidate’s final degree classification the following weights shall apply 

to the modules in the Module Timetable accompanying these Regulations:* 

8.4.1 Degree Programmes with a European Language 

Level Two CARBS Modules (60 credits) 15% (5% per 20 credit module) 

Level Two Language Modules (60 credits) 15% (2.5% per 10 credit module) 

Level Three CARBS Modules (100 credits) 55% (11% per 20 credit module 

and 5.5% per 10 credit module) 

Level Three Language Module (20 credits) 15% 




Regulations. 









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MODULE CATALOGUE PROGRAMME STRUCTURE 

1. Semester Dates 2011 – 2012 

GENERAL 

Monday 3 October 2011 to Sunday 29 January 2012 

(Christmas Vacation: Saturday 17 December 2011 to Sunday 8 January 2012) 

Spring Semester 

Monday 30 January 2012 to Friday 16 June 2012 

(Easter Vacation: Saturday 31 March 2012 to Sunday 22 April 2012) 

2. PROGRAMME REGULATIONS 

The Regulations which apply to the degree programmes offered by Cardiff Business School 

are detailed on pages 1 to 35 of this module catalogue. They include information on the 

relative contribution of each module to the year and/or the determination of the award, the 

requirements for progression from one year of a programme to the next and for the award of 

the qualification. 

3. PROGRAMME DETAILS 

All students pursuing year 3 of a degree programme within Cardiff Business School will be 

required to take modules totalling 120 credits. This will comprise a combination of 

compulsory and optional modules, and may include double modules worth 20 credits each, 

and single modules worth 10 credits each. Full details of the structure of each degree 

programme are given on pages 41 to 66 of this catalogue. 

Details of individual modules are available on pages 67 to 193, and include aims, syllabi, 

teaching methods and methods of assessment, including the weighting of individual pieces of 

assessment, the duration of examinations/class tests, and deadlines for submission of incourse 

assessment. 

4. EXAMINING BOARD 

4.1 Chair. 

The Chair of the Year 3/Final Year Examining Board is Professor Peter Marlow. 

4.2 Examining Board Conventions. 

BSC IN BUSINESS MANAGEMENT 

BSC ECON IN BANKING AND FINANCE 

BSC ECON IN BUSINESS ECONOMICS 

BSC ECON IN ECONOMICS 

BSC ECON IN ECONOMICS & FINANCE 

BSC ECON IN ECONOMICS AND MANAGEMENT STUDIES 

BSC BUSINESS MANAGEMENT WITH A EUROPEAN LANGUAGE 

BSC ECON BANKING & FINANCE WITH A EUROPEAN LANGUAGE 

BSC ECON BUSINESS ECONOMICS WITH A EUROPEAN LANGUAGE 

BSC ECON ECONOMICS WITH A EUROPEAN LANGUAGE 

BSc BUSINESS STUDIES AND JAPANESE 

These conventions are to be read in conjunction with: 

• the Programme Regulations and Methods of Assessment in the Cardiff 

Business School Degree Programme Booklet final year; 

-36-

PROGRAMME STRUCTURE MODULE CATALOGUE 

• the Senate Assessment Regulations for Modular Undergraduate Programmes 

(p42-63 Cardiff University Academic Regulations Handbook); 

• the Senate Regulations for Modular Undergraduate Programmes (p27-42 

Cardiff University Academic Regulations Handbook). 

Credit for Failed Modules 

In exceptional cases, usually on the basis of special circumstances, a candidate may 

be awarded the credits for a failed module whilst the mark is left under 40%. 

Rounding of Marks 

Rounding occurs when the coursework total is combined with the examination total 

to give a module mark. The overall mark is also rounded in order to calculate the 

degree classification. Marks of x.5 and above are rounded up to x +1, and x.49 and 

below are rounded down to x. 

Special Circumstances 

Where a student has requested that his/her circumstances be kept confidential, the 

minimum number of people who will need to be informed are the Chair and the Exam 

Liaison Officer. 

Eligibility For Compensation 

The term ‘Compensation’ here refers to the practice of the Examining 

Board awarding extra marks other than those awarded in response to 

special circumstances. 

• In order to be considered for compensation a candidate must normally 

obtain a mark of 40 or above in at least four of his/her six double module 

assessments. 

• A candidate who obtains a mark below 40 in two double module 

assessments will be eligible for compensation if his/her marks for those 

assessments are in the range 35-39 and his/her overall average is above 50. 

• A candidate who obtains a mark below 40 in just one double module 

assessment will be eligible for compensation if his/her mark for that 

assessment is in the range 35-39 and his/her overall average is above 45 

• A candidate will not normally be eligible for compensation if he/she obtains a 

mark below 35 in any double module assessment. 

A candidate who is awarded a compensated pass in one or more modules will 

normally be awarded a mark of 40 in that/those assessments but the Board can at its 

discretion leave the mark below 40. 

Note: for purposes of determining eligibility for compensation two single modules are 

equivalent to one double module 

Structure of Re-Assessment 

Where a candidate is permitted to repeat the assessment in a failed module, the 

structure of the assessment shall be 100% examination unless the Board decides that 

it is more appropriate to repeat the assessment under the same structure. 

Absence from Assessment 

Where a student is absent from any examination or class test or has not submitted 

coursework and the examining board is not satisfied that there are reasonable special 

circumstances it shall award a mark of zero for the examination, class test or piece of 

coursework. 

-37-


Recording of Absence With Good Cause 

Where a candidate is undertaking a year abroad and does not attend an examination 

for a carried module he/she will be recorded as absent with good cause in any of the 

assessment periods during that academic year. This however, does not preclude the 

student actually taking an examination if he/she so chooses. 

In the case of students carrying a failed module in Japanese, they will be required to 

take a form of assessment prior to the start of the following academic year. 

BSC ACCOUNTING 

BSC ECON ACCOUNTING & ECONOMICS 

BSc ACCOUNTING & FINANCE 

BSC ECON ACCOUNTING & MANAGEMENT 

BSC ACCOUNTING WITH A EUROPEAN LANGUAGE 

BSC BUSINESS MANAGEMENT & FINANCE 

These conventions are to be read in conjunction with: 

• the Programme Regulations and Methods of Assessment in the Cardiff 

Business School Degree Programme Booklet Final Year; 

• the Senate Assessment Regulations for Modular Undergraduate Programmes 

(Cardiff University Academic Regulations Handbook); 

• the Senate Regulations for Modular Undergraduate Programmes (Cardiff 

University Academic Regulations Handbook). 

Credit for Failed Modules 

In exceptional cases, usually on the basis of special circumstances, a candidate may 

be awarded the credits for a failed module whilst the mark is left under 40%. 

Rounding of Marks 

Rounding occurs when the coursework total is combined with the examination total 

to give a module mark. The overall mark is also rounded in order to calculate the 

degree classification. Marks of x.5 and above are rounded up to x +1, and x.49 and 

below are rounded down to x. 

Special Circumstances 

Where a student has requested that his/her circumstances be kept confidential, the 

minimum number of people who will need to be informed are the Chair and the Exam 

Liaison Officer. 

Award of Pass in Each Module 

In order to pass a module a candidate must achieve at least 35% in each significant 

piece of assessment as well as achieve an overall average of at least 40%. A 

significant element of assessment is defined as one which contributes more than 

10% to the final module mark and an element is defined as: 

• each examination where the module is assessed by more than one 

examination; 

• the total for the coursework pieces where the module is assessed by a 

combination of examination and coursework; 

• each examination where the module is assessed by a combination of 


• the total for the coursework pieces where the module is assessed by more 

than one piece of coursework. 

-38-


Structure of Re-Assessment 

Students who fail a module, whether: 

i. by failing to attain 35% in each significant element of assessment; or 

ii. by failing to achieve a minimum overall mark of 40% for the module; or 

iii. both 

shall be required to resit those significant elements of assessment which they have 

failed (i.e. those for which they have achieved below 40%) up to a maximum of 3 

attempts. 

At the resit board resit candidates shall be assessed on the combined marks for each 

element of assessment for each module. Where candidates fail to complete a resit 

assessment and the examining board is not satisfied that there are reasonable special 

circumstances it shall award a mark of zero for that resit assessment. In order to 

pass the module students must achieve a minimum overall mark of 40% for the 

module and a minimum of 35% in each significant element of assessment. The 

marks considered will be the highest achieved for each element of assessment at any 

attempt. In all cases where a student resits the module mark shall be capped at 

40%. 

Where a student achieves an overall mark for a module of 40% or more but fails that 

module through failing to achieve 35% in each significant element of assessment, the 

module mark shall be recorded as 39%. 

Absence from Assessment 

Where a student is absent from any examination or class test or has not submitted 

coursework and the examining board is not satisfied that there are reasonable special 

circumstances it shall award a mark of zero for the examination, class test or piece of 

coursework. 

Recording of Absence With Good Cause 

Where a candidate is undertaking a year abroad and does not attend an examination 

for a carried module he/she will be recorded as absent with good cause in any of the 

assessment periods during that academic year. This however, does not preclude the 

student actually taking an examination if he/she so chooses. 

4.3 Anonymous Marking 

4.3.1 Examinations. 

In accordance with University Senate Assessment Regulations, all 

examination papers are marked anonymously at the internal marking stage, 

(only the students’ numbers are known to the marker until the marks are 

entered onto the database as confirmed internal marks - if the identity of a 

student needs to be revealed prior to the internal marking process being 

completed, the School follows the procedures set out in Senate Assessment 

Regulation 7.3). 

4.3.2 Class Tests and Other Coursework. 

Coursework and class tests are not marked anonymously; the students’ name 

is known to the marker. 

-39-


PROGRAMME 

STRUCTURES 

FINAL YEAR 

-40-


AIMS OF THE PROGRAMME 

N400 BSc ACCOUNTING 

This degree programme is aimed at providing a thorough understanding of the discipline of 

accounting. The theory, concepts, principles and techniques of the core subject areas of financial 

accounting, management accounting and business finance and the closely related subject areas of 

auditing, taxation and other specialist topics chosen from a range of permitted option modules, are 

covered in depth. The close relationship between accounting and the disciplines of economics, law 

and management is emphasised throughout the programme. 

The degree programme is organised to develop students' academic and technical skills and to provide 

the breadth of understanding that is an essential requisite for a successful career in accounting and 

business. 

YEAR 3 – REQUIREMENTS 

Three compulsory double modules 

BS3502 Business Finance 

BS3504 Financial Accounting 

BS3517 Management Accounting and Control 

Three single modules per semester 

Autumn Spring 

3 Single Modules from 3 Single Modules from 

BS3512 Accounting Information Systems BS3613 Accounting Investigation 

BS3503 Development of Accounting BS3614 Corporate Governance and 

Accountability 

BS3506 International Accounting BS3612 Public Sector Accounting 

BS3520 Analysis of Financial Reporting 

Information 

BS3618 The Accounting Profession 

-41-


LN14 BSc ECON ACCOUNTING AND 

ECONOMICS 


This degree programme is aimed at providing a thorough understanding of the disciplines of 

accounting and economics. This will be achieved by covering in depth the core accounting subject 

areas of financial accounting, management accounting and business finance. Also, through the use 

of module groups in economics in the second and third years, the programme has the aim of 

permitting students to choose the additional subjects they would prefer to study and examine in 

depth. 






Plus modules from one of the following groups 

Group 1 

Three double modules from 

BS3571 Economics of Banking 

BS3554 Financial Economics 

BS3555 International Finance 

BS3548 Business History 

Group 2 

Three double modules from 

BS3570 Applied Macroeconomics & Finance 


BS3547 Business Applications 

BS3572 Industrial Economics 

BS3561 Modern Business Enterprise 

Group 3 

Both 

BS3565 Macroeconomic Analysis 

BS3566 Microeconomic Analysis 

and one double module from 

BS3546 Applied Welfare Economics 


BS3551 Econometrics 

BS3556 International Economic History 

BS3568 International Trade 

BS3558 Labour Economics 

BS3562 Public Finance (Please note that this module will not run in the 2011-12 session) 

REQUIREMENTS 

Students who studied BS2551 Money, Banking and Finance must select modules from Group 1 

Students who studied BS2560 Managerial Economics must select modules from Group 2 

Students who studied BS2549 Macroeconomic Theory must select modules from Group 3 

-42-


N490 BSc ACCOUNTING AND FINANCE 


The overall aim of the programme is to provide students with a thorough understanding of the 

discipline of accounting and finance. At the same time it seeks to enable students to select for study 

particular aspects of these and cognate disciplines that suit their own individual interests and 

requirements within a framework of ensuring that the totality of modules followed represents a 

coherent learning experience. The close relationship between accounting and finance and the 

disciplines of economics, law and management is emphasised throughout the programme. The 

degree programme is organised to develop students’ academic and technical skills and to provide the 

breadth of understanding that is an essential requisite for successful careers in accounting, finance 

and business. Appropriate skills training and use are both embedded within the modules taken and, 

where necessary, provided as additional components. Within these skills, it is intended that the 

programme of study meets, and exceeds, the requirements of the Accounting Benchmark Statement 

issued by the QAA and fulfils the exemption requirements of professional accounting bodies. 


Four compulsory double modules 




BS3514 International Corporate Finance 

Plus One Compulsory Single Module per Semester 

Autumn Semester Spring Semester 

BS3515 Financial Derivatives BS3615 Security Analysis & Portfolio 

Management 

Plus One Single Module per Semester from 


BS3516 Empirical Finance and 

Accounting Literature (Please 

note that this module will not run 

in the 2011-12 session) 


Information 

BS3616 Finance Investigation* (Please 

note that this module will not 

run in the 2011-12 session) 

BS3614 Corporate Governance & 


BS3512 Accounting Information Systems BS3618 The Accounting Profession 

BS3503 Development of Accounting BS3612 Public Sector Accounting 

BS3506 International Accounting BS3619 Modelling in Management 

Science 

BS3519 Exploratory Data Analysis 

* Note to take this module you must also select BS3516 Empirical Finance & Accounting 

Literature in the first semester 

-43-


NN24 BSc ECON ACCOUNTING AND 

MANAGEMENT 


This degree programme is aimed at providing a thorough understanding of the disciplines of 

accounting and management. This will be achieved by covering in depth the core accounting 

subjects of financial accounting, management accounting and business finance and the core 

management subject area of business policy. Also, through the use of optional modules in 

management in the second and third years, the programme has the aim of permitting students to 

choose the additional subjects they would prefer to study and examine in depth. 






BS3543 Strategic Management 

And two double modules from 

BS3725 Advertising & Marketing Communications Management 

BS3728 Ethics & Morality of Business 

BS3730 International Business & Marketing 

BS3740 International Human Resource Management 

BS3735 Organisational Analysis & Change 

BS3741 Marketing Decision Making 

BS3538 Work & Employment 

-44-


N410 BSc ACCOUNTING WITH A EUROPEAN 

LANGUAGE 


This degree programme is aimed at providing the student with a thorough understanding of the 

discipline of accounting together with near native competence in a specified European language and a 

sound knowledge of the culture and institutions of the country of the language. 

The theory, concepts, principles and techniques of the core subject areas of financial accounting, 

management accounting and business finance are covered in depth. The close relationship between 

accounting and the disciplines of economics, law and management is emphasised throughout the 

programme. 

The degree programme is organised to develop students' academic and technical skills and to provide 

the breadth of understanding that is an essential requisite for a successful career in accounting and 

business with particular reference to Europe. 


(3 compulsory double modules) 




and 2 single modules per semester from 


BS3512 Accounting Information Systems BS3613 Accounting Investigation 

BS3503 Development of Accounting BS3614 Corporate Governance and 


BS3506 International Accounting BS3612 Public Sector Accounting 


Information 

BS3618 The Accounting Profession 

BS3701 

and one of the following Routes 

ROUTE 1 – FRENCH 

Language Skills for Professionals (French) 

ROUTE 2 – GERMAN 

BS3721 Language Skills for Professionals (German) 

ROUTE 3 – SPANISH 

BS3711 Language Skills for Professionals (Spanish) 

-45-


N300 BSc ECON BANKING & FINANCE 


The Banking and Finance degree programme provides students with a thorough understanding of the 

method, content and scope of economic analysis, particularly in the fields of money, banking and 

finance. It aims to stimulate students intellectually to appreciate the value of economic analysis in 

understanding economic problems and equip them with a thorough grounding in the theory, 

concepts, principles and techniques of core subject areas of the discipline: macroeconomics, 

microeconomics, quantitative analysis, monetary economics and financial economics. It gives 

students a firm foundation of knowledge in the workings of the UK economy, with an emphasis on 

the banking and financial sectors, and the ability to use that knowledge in a range of contexts. 

The programme aims to develop in students the ability to apply economic analysis to solve theoretical 

and applied problems in economics and finance, and to evaluate alternative policy options. The study 

of economics, banking and finance encourages a range of transferable discipline-specific and core 

skills that will be of value to students in future education and in their subsequent careers. In Year 3 

the programme offers students the opportunity to acquire detailed knowledge and technique in the 

specialist areas of economics of banking, international finance and financial economics. 






Plus three modules at least two of which must be from Group 1 

Group 1 









Group 2 

BS3511 Accounting Theory and Practice 

BS3728 Ethics and Morality of Business 



BS3538 Work and Employment 

-46-


N3R9 BSc ECON BANKING & FINANCE WITH A 

EUROPEAN LANGUAGE 


The Banking and Finance with a European Language degree programme provides students with a 

thorough understanding of the method, content and scope of economic analysis, particularly in the 

fields of money, banking and finance. It aims to stimulate students intellectually to appreciate the 

value of economic analysis in understanding economic problems and equip them with a thorough 

grounding in the theory, concepts, principles and techniques of core subject areas of the discipline: 

macroeconomics, microeconomics, quantitative analysis, monetary economics and financial 

economics. It gives students a firm foundation of knowledge in the workings of the UK economy, 

with an emphasis on the banking and financial sectors, and the ability to use that knowledge in a 

range of contexts. 

This degree programme aims to provide students with a competence in a specified European 

language and knowledge of the economy of the country of the language. 

The programme aims to develop in students the ability to apply economic analysis to solve theoretical 

and applied problems in economics and finance, and to evaluate alternative policy options. The study 

of economics, banking and finance encourages a range of transferable discipline-specific and core 

skills that will be of value to students in future education and in their subsequent careers. In Year 4 

the programme offers students the opportunity to acquire detailed knowledge and technique in the 

specialist areas of economics of banking, international finance and financial economics. 

YEAR 4 - REQUIREMENTS 





and two double modules from: 










BS3701 Language Skills for Professionals (French) 





-47-


N201 BSc BUSINESS MANAGEMENT 


This degree programme is designed to provide a thorough knowledge of the main disciplines relevant 

to management and business together with an appreciation of the different functional areas involved. 

It provides a combination of theoretical ideas and practical techniques which gives a thorough 

grounding for a variety of careers in a range of management functions such as marketing and human 

resource management, as well as in general management. 


Two compulsory double modules (40 credits) 



Plus optional double modules: at least one and no more than two from each of the 

following three groups (80 credits) 

GROUP 1 

Optional Double Modules in HRM 



GROUP 2 

Optional Double Modules in Marketing 




BS3742 Services & Relationship Marketing 

GROUP 3 

Optional Double Modules in Accounting, Operations & General Management 

BS3511 Accounting Theory & Practice 

BS3739 Advanced Operations Management 

BS3727 Entrepreneurship & Small Business Development 


BS3589 International Business Logistics 

BS3530 Japanese Management Systems 

BS3544 Management & Public Policy in the European Union 

BS3738 Strategic Supply Management 

Optional Single Modules in Accounting, Operations & General Management (NOTE: these modules 

must be taken together) 


BS3619 Modelling in Management Science 

-48-


NN26 BSc BUSINESS MANAGEMENT 

(HUMAN RESOURCES) 








Four compulsory double modules (80 credits) 





and one of the following Groups 

GROUP 1: Two optional double modules (40 credits) 

BS3511 Accounting, Theory & Practice 









GROUP 2: One optional double module (20 credits) 

AND both single modules (10 credits each) as listed below: 

DOUBLE MODULES 










SINGLE MODULES 



-49-



(INTERNATIONAL MANAGEMENT) 














GROUP 1: Two optional double modules (40 credits) 































-50-



(LOGISTICS AND OPERATIONS) 














GROUP 1: Plus two optional double modules (40 credits) 







BS3544 Management & Public Policy of the European Union 














BS3544 Management & Public Policy of the European Union 








-51-


NN25 BSc BUSINESS MANAGEMENT 

(MARKETING) 














GROUP 1: Two optional double module (40 credits) 





























-52-


N290 BSc BUSINESS MANAGEMENT WITH A 



This degree programme is designed to provide the student with a thorough knowledge of the main 

disciplines relevant to management and business management together with near native competence 

in a specified European language and a sound knowledge of the culture and institutions of the 

country of the language. 

This degree programme provides a combination of theoretical ideas and practical techniques which 

gives a thorough grounding for a variety of careers in a range of management functions such as 

marketing and human resource management, as well as in general management, particularly in a 

European context. 


(Two compulsory double modules) 

BS3544 Management and Public Policy in the EU 



GROUP 1: Three optional double modules (60 credits) 












GROUP 2: 2 optional double modules (40 credits) AND both single modules (10 credits 

each) as listed below: 
















and one compulsory language module 



-53-






-54-


NN23 BUSINESS MANAGEMENT AND FINANCE 


This degree programme is aimed at providing a thorough understanding of the theoretical and 

applied aspects of the disciplines of business management and finance. It seeks to provide students 

with a knowledge and understanding of those areas of business, management, finance and 

quantitative techniques, which are necessary for a proper understanding of management and finance 

and to place management and finance in their broader organisational and professional contexts. It 

provides a combination of theoretical ideas and practical techniques which gives a thorough 

grounding for a variety of careers in management and finance, in business generally, and in other 

fields. 

YEAR 3 REQUIREMENTS 





One compulsory double module in the Autumn Semester 


BS3515 Financial Derivatives BS3615 Security Analysis & Portfolio Management 

Plus two double modules from 





BS3742 Services and Relational Marketing 


BS3735 Organisational Analysis and Change 

-55-


L114 BSc ECON BUSINESS ECONOMICS 


The Business Economics degree programme provides students with an understanding of economic 

theory, particularly that which focuses on the organisational and managerial characteristics of the 

modern business enterprise. It aims to give students a firm understanding of the structure of 

business decision making, and an appreciation of how theoretical and quantitative economic 

perspectives can improve such decision making. It equips students with a thorough grounding in the 

theory, concepts, principles and techniques of the core subject areas of the discipline, including 

microeconomics, quantitative analysis and managerial economics. 

The programme aims to inform students of the main features of the UK industrial economy and the 

key developments in business. The study of business economics encourages a range of transferable 

discipline-specific and core analytical skills that will be of value to students in their subsequent 

careers. The programme examines government and international business policy to identify their 

ramifications for the development of markets and firms. It introduces students to subject areas 

outside the economics discipline by offering them the opportunity to follow modules in finance, 

marketing and other aspects of management. 







Plus two further modules, at least one of which must be from Group 1 

Group 1 








Group 2 


BS3727 Entrepreneurship and Small Business Development 

BS3728 Ethics and Morality of Business 




-56-


L1R9 BSc ECON BUSINESS ECONOMICS WITH A 



The Business Economics with a European Language degree programme provides students with an 

understanding of economic theory, particularly that which focuses on the organisational and 

managerial characteristics of the modern business enterprise. It aims to give students a firm 

understanding of the structure of business decision making, and an appreciation of how theoretical 

and quantitative economic perspectives can improve such decision making. It equips students with a 

thorough grounding in the theory, concepts, principles and techniques of the core subject areas of 

the discipline, including microeconomics, quantitative analysis and managerial economics. 



The programme aims to inform students of the main features of the UK industrial economy and the 

key developments in business. The study of business economics encourages a range of transferable 

discipline-specific and core analytical skills that will be of value to students in their subsequent 

careers. The programme examines government and international business policy to identify their 

ramifications for the development of markets and firms. 





BS3560 Managerial Economics 


and one double modules from: 















-57-


NT12 BSc BUSINESS STUDIES AND JAPANESE 


This degree programme is designed to provide the student with a thorough knowledge of the main 

disciplines relevant to business management together with a high level of competence in the 

Japanese language and a sound knowledge of Japanese culture and institutions. 

This degree programme provides a combination of theoretical ideas and practical techniques which 

gives a thorough grounding for a variety of careers in a range of management functions such as 

marketing and human resource management, as well as in general management, particularly in a 

Japanese context. 


Four compulsory modules 

BS5421 Advanced Japanese Communication (30 Credits) 

BS5422 Advanced Japanese Studies (30 Credits) 

BS3530 Japanese Management Systems (20 Credits) 

BS3543 Strategic Management (20 Credits) 

one module from 









-58-


L100 BSc ECON ECONOMICS 

The Economics degree programme aims to provide students with a thorough understanding of the 

method, content and scope of Economic analysis and to stimulate students to appreciate the value of 

economic analysis in understanding both economic problems and a wider range of social and political 

issues. The programme will equip students with a thorough grounding in the theory, concepts, 

principles and techniques of the core subject areas of the discipline: macroeconomics, 

microeconomics and quantitative analysis. It aims to give students a firm foundation of knowledge of 

the workings of the UK economy and the ability to use that knowledge in a range of contexts. It 

develops in students the ability to apply economic analysis to theoretical and applied problems in 

economics and to evaluate policy options. 

The programme encourages a range of transferable discipline-specific and core skills that will be of 

value to students in future education and in their subsequent careers. It aims to interest students in 

the breadth and depth of economic analysis by offering them the opportunity to acquire knowledge 

and technique in a number of specialised areas. These include public finance, econometrics, welfare 

economics, economic history, labour economics and international economics. 


Two compulsory double modules 



And four double modules from: 











-59-

LN13 BSc ECON ECONOMICS AND FINANCE 


The aim of the Economics & Finance programme is to provide students with a thorough 

understanding of the disciplines of economics and finance. It seeks to enable students to study 

particular aspects of these and cognate disciples within a coherent structure. The close relationship 

between economics and finance and disciplines of accounting and law is emphasised throughout the 

programme. The degree programme is organised to develop students’ academic and technical skills 

and to provide the breadth of understanding that is essential for successful careers in economics, 

finance and business. 

Through the study of economics and finance, the Programme encourages a range of transferable 

discipline-specific and core skills that will be of value to students in future education and in their 

subsequent careers. It aims to interest student in the breadth and depth of economic and finance 

analysis by offering them the opportunity across the three years of study to acquire knowledge and 

technique in a number of specialised areas. These include monetary economics, financial economics, 

international corporate finance and business finance. 


Five compulsory double modules 






Plus one single module per semester 


BS3515 Financial Derivatives BS3615 Security Analysis & Portfolio 

Management 

Or one compulsory double module 


-60-

LN12 BSc ECON ECONOMICS AND 

MANAGEMENT STUDIES 


The Economics and Management Degree Programme aims to equip students with a thorough 

grounding in the concepts, principles and techniques of the core areas of both economics and 

management: including microeconomics, quantitative analysis, marketing and strategic management. 

It provides students with an understanding of economic and management theory, particularly that 

which focuses on the efficiency, the competitive position, the organisational characteristics and the 

strategic objectives of the modern business enterprise. It aims to give students a firm understanding 

of the structure of business decision making, and an appreciation of how economic and management 

perspectives can improve such decision-making. It informs students of the main features of the UK 

industrial economy and the key developments in business and management. It develops in students 

the ability to apply economic and management analysis, including quantitative techniques, to 

problems within the business economy and to evaluate alternative policy options. 

The programme encourages a range of transferable discipline-specific and core analytical skills that 

will be of value to students in their subsequent careers. Over the three years of study, it aims to 

introduce students to a wide range of subject areas in both the economics and management 

disciplines. 


Three double modules from: 







Plus modules from one of the following Groups 

Group 1 






Group 2 







Group 3 

Both 



Plus one double module from: 





-61-




REQUIREMENTS 

Students who studied BS2551 Money, Banking and Finance must select modules from Group 1 

Students who studied BS2560 Managerial Economics must select modules from Group 2 

Students who studied BS2549 Macroeconomic Theory must select modules from Group 3 

-62-

L160 BSc ECONOMICS WITH A EUROPEAN 

LANGUAGE 


The Economics with a European Language degree programme aims to provide students with a 

thorough understanding of the method, content and scope of Economic analysis and to stimulate 

students to appreciate the value of economic analysis in understanding both economic problems and 

a wider range of social and political issues. The programme will equip students with a thorough 

grounding in the theory, concepts, principles and techniques of the core subject areas of the 

discipline: macroeconomics, microeconomics and quantitative analysis. It aims to give students a 

firm foundation of knowledge of the workings of the UK economy and the ability to use that 

knowledge in a range of contexts. It develops in students the ability to apply economic analysis to 

theoretical and applied problems in economics and to evaluate policy options. 



The programme encourages a range of transferable discipline-specific and core skills that will be of 

value to students in future education and in their subsequent careers. It aims to interest students in 

the breadth and depth of economic analysis by offering them the opportunity to acquire knowledge 

and technique in a number of specialised areas, including public finance, welfare economics, 

economic history, labour economics and international economics. 


Two compulsory double modules 



And three double modules from: 










And one of the following Routes 







-63-

FACULTY OF HUMANITIES AND SOCIAL STUDIES 

JOINT HONOURS DEGREE PROGRAMMES 

BSc ECON ECONOMICS AND POLITICS 



BS3565 Macroeconomic Analysis* 

BS3566 Microeconomic Analysis* 



BS3551 Econometrics** 









PLUS 60 CREDITS OF MODULES FROM HUMANITIES 

* Macroeconomic Analysis and Microeconomic Analysis must be taken together and students must 

have taken BS2556 Empirical Economics in Year 2. 

**In order to select BS3551 Econometrics, students must have taken BS2556 Empirical Economics in 

Year 2. 

BA ECONOMICS WITH A HUMANITIES SUBJECT 













PLUS 60 CREDITS OF MODULES FROM HUMANITIES 

-64-

EUROPEAN STUDIES 

JOINT HONOURS DEGREE PROGRAMMES 

BA FRENCH AND JAPANESE 

BA GERMAN AND JAPANESE 

BA SPANISH AND JAPANESE 

BA ITALIAN AND JAPANESE 

FINAL YEAR - REQUIREMENTS 

Two compulsory modules 

BS5421 Advanced Japanese Communication (30 credits) 

BS5422 Advanced Japanese Studies (30 credits) 

PLUS THE REQUISITE NUMBER OF MODULES FROM HUMANITIES 

-65-

MODULE CATALOGUE MODULE DESCRIPTIONS 

MODULE 

DESCRIPTIONS 

-66-

MODULE DESCRIPTIONS MODULE CATALOGUE 

ACCOUNTING INFORMATION SYSTEMS 

MODULE CODE: BS3512 

NUMBER OF CREDITS: 10 

SEMESTER: Autumn 

PROGRAMMES: BS Accounting, BSc Accounting & Finance, BSc Accounting with a 

European Language 

AIMS OF THE MODULE: 

The aim of the module is to provide students with a systems perspective on the processing, 

presentation, and use of accounting information. 

LEARNING OUTCOMES OF THE MODULE 

On completion of the module a student should be able to 

A Knowledge and Understanding: 

• know current developments in accounting information systems (AIS) and AIS technologies 

• understand theory and modelling techniques relating to the development of firm-wide 

information systems 

• understand audit risks and internal controls within AIS and their characteristics 

• know and critically evaluate computer assisted audit tools, techniques and the scope of their 

application 

• know current information search and presentation tools and techniques 

B Intellectual Skills: 

• an ability to think in systems terms 

• a capacity to identify and critically evaluate AIS and enterprise-wide development trends and 

most relevant information technologies 

C Discipline Specific Skills: 

• identify and evaluate current developments in accounting information systems and AIS 

technologies 

• apply conceptual modelling techniques such as E-R modelling and REA modelling 

• assess accounting software 

• identify and evaluate audit risks within AIS 

• design internal controls 

• evaluate computer assisted audit techniques 

D Transferable Skills: 

• effectively search information on the Internet 

• use Access, Excel and other information technologies 

• design Web pages using HTML and XBRL 

• assess computer hardware and software performance 

• draw flowcharts and data flow diagrams 

METHODS OF TEACHING AND LEARNING: 

Teaching is by means of approximately seventeen lectures and five tutorials or computer laboratory 

workshops. The theoretical aspects of topics are mainly covered in lectures. Tutorials and workshops 

provide students with opportunities to develop hands-on computing skills, consolidate the underlying 

theory by means of discussion, and cover the more practical aspects of the subject. Five tutorial 

questions (tasks), most of which are computer-based, will be given to students through the course. 

Students will be expected to attempt the questions before the tutorials or workshops start. The 

questions will be discussed and/or demonstrated at the tutorial or workshop by a tutor or students. 

To enable independent learning, a computer-based assignment is incorporated. As the module deals 

with major IT advancements closely related to AIS, it requires considerable efforts to prepare lectures 

and tutorials so as to provide students with an effective framework to learn. Textbooks are never 

updated and thus students are required to read additional materials. An open door policy is 

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maintained to allow additional interaction with students. E-mails are frequently used to interact with 

students (e.g. to provide students with readings, and to receive and answer students queries). 

Indicative study hours: 80 

ASSESSMENT: 

Examination Component: 70% 

Two hour examination at the end of the Autumn semester. The 

examination paper consists of six questions taken from different 

syllabus areas of which three are to be attempted. The paper covers 

technical questions such as flowcharting and REAL modelling as well 

as essay-types issues (e.g., identifying and evaluating advantages 

and weaknesses of the traditional view-driven AIS architecture) 

Continuous Assessment: 30% 

Computer-based group assignment of 1500 words or the equivalent 

with the submission date being week 11 of the Autumn semester. 

This is designed to allow student cooperative learning and problem 

solving by concertedly using the knowledge and skills developed 

before or on this course. 

Informal assessments are undertaken mainly through lectures and tutorials by interacting with 

students. 

SYLLABUS CONTENT: 

Definition of accounting information systems (AIS); view-driven AIS versus events-driven AIS; 

computer systems; accounting packages; database technology; the Internet, WWW, HTML, XBRL and 

AIS; AIS documenting techniques: flowcharts and data flow diagrams; Enterprise-wide system 

modelling and AIS development: E-R modelling and REA modelling; Internal control systems; 

Computer auditing. 

INDICATIVE READING LIST: 

Dunn, C., Cherrington, J. O. and Hollander, A. S. (2005). Enterprise Information Systems: A Pattern- 

Based Approach. (3 rd Edition). McGraw-Hill. 

Hollander, A. S., Denna, E. S. and Cherrington, J. O. (1996, 2000). Accounting, Information 

Technology, and Business Solutions (1 st and 2 nd editions). Chicago and London: Irwin. 

Moscove, S., Simkin, M. G., and Bagranoff, N. A. (2010) (11 th edition). Core Concepts of Accounting 

Information Systems. New York: John Wiley & Sons 

Romney, M. B. and Steinbart, P. J. (2009). AIS (11 th edition). New Jersey: Prentice Hall 

www.toptentechs.com 

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ACCOUNTING INVESTIGATION 



SEMESTER: Spring 

PROGRAMMES: BSc Accounting and BSc Accounting with a European Language 


This module aims to enable students to integrate the areas of IT and accounting in individual 

assignments based on independent learning. 




• demonstrate an understanding of the theoretical and practical aspects of the accounting 

research process 

• understand the alternative methodological approaches to accounting research and show an 

awareness of the limitations of various accounting research methods 


• solve problems, including the ability to collect and manipulate financial and other numerical 

data 

• exercise powers of inquiry, logic, and critical analysis in the interpretation and evaluation of 

arguments and evidence 

• sustain a critical argument in writing 


• the capacity to identify an accounting research topic and search for relevant information to 

investigate this topic 

• apply theoretical and/or empirical analysis to an accounting topic 


• communicate ideas, principles and theories effectively by oral and written means 

• exercise initiative, self reliance and time management skills and work independently 

• appreciate alternative viewpoints 

• exercise numeracy, problem solving and IT skills 

• access and utilise information in a variety of research resources, both traditional (e.g. library) 

and IT (e.g. the Internet and electronic journals). 


The module comprises 4 hours of lectures and approximately 15 hours of student/supervisor contact. 

The remainder of the time is taken up by students working independently, which constitutes the core 

method of learning. The lectures are conducted at the beginning of the semester, and introduce 

students to the structure of the module. The lectures therefore include a discussion of accounting 

research methods available, and also provide examples of suitable accounting topics. The lectures 

are supported by handouts and published articles as exemplars of empirical and theoretical analysis. 

Following the lectures, students are required to select a topic, in consultation with the module coordinator. 

After the topic is selected, students work independently to research the topic. During this 

period, the module co-ordinator is available at designated periods each week for support and advice 

on the accounting investigation. Furthermore, students are encouraged to utilise IT to correspond 

with the module co-ordinator to make enquiries relating to their investigation. Correspondence 

between students and supervisor is thus ongoing throughout the investigation to ensure that any 

problems in the investigation are resolved promptly and effectively. 


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ASSESSMENT: 


One 500 word report to be submitted in week 4 of the Spring 

Semester 


Semester 

Formal assessment of this module is of a continuous nature, and comprises two elements. The first is 

a 500 word report which outlines the aims and objectives of the investigation, describes the methods 

to be employed in the investigation, and outlines any data to be collected. This preliminary report 

represents 25% of the total assessment and is designed to ensure that students devote the necessary 

attention to the selection of a suitable topic for investigation. This also allows students to identify 

and evaluate relevant prior research on the topic they have chosen, and to give due consideration to 

the application of suitable technology to the topic. 

The second and most substantive component of the formal assessment is the preparation of a 4500 

word report which describes the investigation and discusses the findings of the investigation in light 

of prior research. In conducting the investigation and preparing the report, students must 

demonstrate proficiency with suitable IT software. This may be demonstrated through the 

application of IT to collect and/or analyse empirical data, or through a theoretical and/or analytical 

modelling of an accounting topic. Students must also demonstrate an understanding of the 

accounting issue under investigation. 


Students are required to investigate and prepare a report on a topic which has been selected in 

conjunction with the module co-ordinator. The topic must involve the application of IT to investigate 

an accounting issue, drawn from the core areas of financial accounting, management accounting and 

business finance. The module co-ordinator provides study guidance according to the topic chosen. 


Hussey, R. and Hussey, J. Business Research Macmillan. 

Ryan, B., Scapens, R. and Theobald, M. Research Method and Methodology in Finance and 

Accounting, Academic Press 

Saunders, M., Lewis, P. and Thornhill, A. Research Methods for Business Students, FT Prentice Hall, 

3 rd edition 

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ACCOUNTING THEORY AND PRACTICE 



SEMESTER: Autumn & Spring 

PROGRAMMES: BSc Business Management, BSc Business Management (Human 

Resources), BSc Business Management (International Management), 

BSc Business Management (Marketing), BSc Banking and Finance, 

BSc Econ Business Economics, BSc Business Management with a 

European Language, BSc Business Studies with Japanese, BSc Econ 

Economics & Management Studies. 


The aim of the module is to build on students’ financial skill acquired at levels one and two and 

broaden and deepen their financial awareness and understanding. In particular, this module seeks to 

develop students’ critical understanding of practical accounting techniques within the context of a 

sound, theoretical framework of knowledge. 



A. Knowledge and Understanding 

• demonstrate a knowledge and a critical understanding of advanced financial ideas and 

concepts; 

• understand and evaluate current developments within the financial accounting area. 


• search for and acquire relevant information 

• collect and manipulate financial and other numerical data 

• analyse, interpret and draw reasoned conclusions from a set of data 


• appreciate the role of accounting in the contexts of internal control and corporate reporting 

and governance 

• gather, construct and interpret financial information 

• account for groups of companies, overseas activities and the impact of inflation 

• demonstrate a knowledge of the form and content of corporate reports and accounts 


• effectively communicate ideas, principles and theories 

• exercise initiative, self-reliance and time management skills and work independently 


• exercise numeracy, problem-solving and IT skills 

• access and utilise information in a variety of resources both traditional and IT 


Teaching will take place in the Autumn and Spring semesters. There will be 34 hours of lectures and 

10 hours of supplementary seminars. The lectures will cover the theoretical concepts underpinning 

accounting and include their practical application. The seminars will be based around seminar 

questions dealing with the appreciation of accounting theory and its application. The lectures will be 

research-driven and provide students with core knowledge. The seminars will be conducted in an 

interactive manner to exploit the advantages of small group teaching. Detailed handouts and a 

structured reading list are given to students to encourage the completion of class questions, which 

build upon the material covered in lectures. The seminars will also be informed by student reading 

required in advance of the session. 


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ASSESSMENT: 

Examination Component 70% 

One 3 hour examination at the end of the Spring Semester 

Continuous Assessment 30% 

An individual written report of 2500 words to be submitted in week 1 

of the Spring Semester 

The assessments comprise an assignment and an examination. The assignment is designed to 

expose students to an accounting topic where they can search for material and then apply that 

material to business situations. The examination will test students’ knowledge, understanding and 

analytical skills. In particular, this third-level module will aim to test the students’ ability to solve 

practical problems, and to put forward reasons, analytically, and evidence-based arguments. 


Lectures will cover the following topics: Accounting environment of UK companies. Strategic 

Accounting and Risk. Communication and presentation of financial information. Conceptual theory. 

Value added statements. Accounting standards. Group accounting. Employee reporting, social 

reporting and environmental reporting. Creative accounting. Accounting for changing prices, foreign 

currency and other accounting issues. Financial Statement Analysis. International Accounting. 


Jones, M.J. (2006), Accounting, John Wiley and Sons. 

Griffiths, I. (1995), New Creative Accounting, MacMillans. 

Nobes, C. and R.H. Parker (2007), Comparative International Accounting, Phillip Allen. 

Deegan C and J Unerman, Financial Accounting Theory (European Edition) McGraw-Hill 

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ADVANCED ADVANCED JAPANESE JAPANESE JAPANESE COMMUNICATION 

COMMUNICATION 




PROGRAMMES: BSc (Joint) Business Studies and Japanese, BA (Joint) French and 

Japanese, BA (Joint) German and Japanese, BA (Joint) Italian and 

Japanese, BA (Joint) Spanish and Japanese 


This module aims to develop and extend students’ knowledge and understanding of the Japanese 

language. 




• understand the main ideas and most details of connected discourse on a variety of topics 

beyond their immediate personal experience 

• converse in Japanese in a clearly participatory fashion on a variety of topics of a formal and 

informal nature 


• the consolidation and progression of previously learnt Japanese, combined with new idioms 

and vocabulary 

• a heightened cultural awareness of the application of language 

• the development of one’s own comprehension and delivery 


• a sound working knowledge of Japanese grammar, combined with awareness of honorific and 

humilific speech. 

• an increasing vocabulary base 


• active participation in group discussions. 

• the ability to present information orally and to lead discussion amongst peers. 


Classes will include all aspects of language skills. Students will be expected to prepare before classes 

and actively participate in the classes. 


ASSESSMENT: 

Examination Component 50% One three hour examination at the end of the spring semester. 

Continuous Assessment 50% One class test and one interview 

The formal assessment is designed to cover the learning outcomes for the module and to test 

development in all the key language skills. This may include garnering information from the spoken 

word, from written Japanese texts, and presenting information in spoken and written forms. 

Informal assessment is provided through discussion in classes and provides an ongoing mechanism 

for assessing the extent to which students are meeting the module’s learning outcomes. 

Students achieving 70% in the oral component of this module will be awarded Distinction in Oral 

Proficiency in Japanese. 


Students will work with a variety of materials. The materials used will be appropriate to the needs 

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and areas of interest of all students. 

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ADVANCED ADVANCED JAPANESE JAPANESE STUDIES 

STUDIES 




PROGRAMMES: BSc Business Studies and Japanese, BA (Joint) French and Japanese, 

BA (Joint) German and Japanese, BA (Joint) Italian and Japanese, BA 

(Joint) Spanish and Japanese 


This module aims to provide students with a comprehensive understanding of aspects of Japanese 

society. It will provide students with a sound understanding of the theories that are used to study 

these aspects of Japanese society. It will develop in students the ability to appreciate, illustrate, 

differentiate and exemplify different explanations of how Japan functions using established theories, 

information gathered and from personal experience gained in Japan. 




• understand key aspects of Japanese society. 

• illustrate and compare the major differences between Japanese society and society in other 

developed nations as appropriate. 


• interpret and analyse information provided in lectures and seminars 

• carry out independent reading and research, and be able to present these findings in oral and 

written work 

• produce an in depth argument for or analysis of a given event or hypothesis 


• understand at an advanced level, aspects of the political, economic, educational and social 

systems of Japan 

• obtain information from Japanese sources 


• present in written or oral form a clear, well argued and summated analysis on a given theme 

• use information resources independently and effectively 

• present information orally 


Teaching will take place in the Autumn and Spring Semesters. Classes will focus upon providing the 

important – but by no means exclusive – information and training in developing the skills necessary to 

complete the module. Students will be expected to present and lead discussions. 


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ASSESSMENT: 


Number of pieces: One dissertation (8,000 words) worth 40%; one 15-minute class 

presentation worth 20%. 

Submission date of dissertation: Week 12 of Spring semester. 

Examination component: 40%, one two-hour examination at the end of the Spring 

Semester 

The formal assessment is designed to cover the learning outcomes for the module and to test skill 

development, including demonstration of the use of Japanese texts, that will test the student’s 

understanding of Japanese society. 

Informal assessment is provided through discussion in classes and provides an ongoing mechanism 

for assessing the extent to which students are meeting the module’s learning outcomes. 


The syllabus will cover aspects of Japanese society and will include the study of relevant Japanese 

language texts. Discussions will be held with the expectation that students will draw upon the 

information learnt in this and other modules, as well as personal experience. 


Hendry, J., 2003, Understanding Japanese Society, London: Routledge 

Hood, C.P., 2001, Japanese Educational Reform: Nakasone’s Legacy, London: Routledge 

Hood, C.P., 2006, Shinkansen – From Bullet Train to Symbol of Modern Japan, London: Routledge 

Hood, C.P., 2011, Dealing with Disaster in Japan: Responses to the Flight JL123 Crash, London: 

Routledge. 

Sugimoto, Y, 1997, An Introduction to Japanese Society, Cambridge: Cambridge University Press 

Kingston, J., 2001, Japan’s Transformation 1952 – 2000, Harlow: Pearson 

Umemura, M., 2011, The Japanese Pharmaceutical Industry, London: Routledge. 

Williams, D., 1994, Japan: Beyond The End of History, London: Routledge 

Williams, D., 1996, Japan and the Enemies of Open Political Science, London: Routledge 

Williams, D., 2004, Defending Japan’s Pacific War: The Kyoto Philosophers and the Idea of a Postwhite 

World, London: Routledge 

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ADVANCED OPERATIONS MANAGEMENT 

Module Code: BS3739 

Number of Credits: 20 

Semester Autumn & Spring 

Semester: BSc Business Management, BSc Business Management (Human 

Resources), BSc Business Management (Logistics & Operations), BSc 

Business Management (Marketing), BSc Business Management with a 

European Language, BSc Business Studies and Japanese. 


The Strategic Operations Management module builds on the work undertaken in the BS2582 Operations 

Management module and aims to provide students an advanced understanding of operations 

management research methods and their application in solving business problems. It also develops an 

appreciation of the role of operational research in the development of business strategy. The Advanced 

Operations Management module aims to: 

• provide students with a number of operational management strategies that can be applied to 

real world problems. 

• stimulate an appreciation of the use of different types of operations management strategies to 

solving problems. 

• give students a foundation in operations management research. 

• enable students to apply the relevant operations management strategy to the correct situation. 

• enable students to understand operational management strategies and research and draw the 

correct conclusions from them. 

• give students an appreciation of the role of research in strategy development. 

• reinforce other modules in the programme from a strategic and research perspective. 


On completion of the module a student should be able to: 


• Evaluate best practice operations management strategies and their applications. 

• Understand the context and assumptions behind the application of various operational 

management strategies. 

• Demonstrate the ability to solve problems using Operations Management strategies. 

• Recognise the link between operations management strategies and other corporate strategies. 

B. Intellectual Skills: 

• Critically appraise various strategies within the context of operational constraints 

• Develop and present a balanced, considered, professional argument of the strengths and 

weaknesses of operations management strategies and research methods. 

• Test the application of various operational strategies via business games. 

C. Discipline Specific Skills: 

• Critically appraise various strategies within the context of operational constraints 

• Relate the strategic aspects of operations management to actual “how it is done” activities 

• Demonstrate their ability to solve problems using Operations Management techniques. 

• Recognise common barriers to operational improvement activities and how they can be 

overcome. 

D. Transferable Skills: 

• Utilise computer spreadsheet software as an aid to problem solving. 

• Working with others in a team. 

• Demonstrate communication skills by presenting well argued justifications for their strategic 

choices. 


Teaching will take place during Autumn and Spring semesters. There will be approximately 44 hours of 

tutorials and lectures. Tutorials will focus on carefully selected worked examples, case studies, computer 

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exercises and management games to re-enforce the lecture topics. 

The module is fully supported by a web page for the module that contains; worked examples, computer 

spreadsheet models of various concepts explored in the module, links to other useful websites, previous 

assignments and exams papers and other supplementary material. 

ASSESSMENT: 


One 3 hour examination in the Spring Semester. 


One assignment of 2500 words to be submitted in week 8 of the 

Autumn Semester (20%), and an individual project assignment 

equivalent to 2500 words to be submitted in week 7 of the Spring 

Semester (20%). 

Learning outcomes are assessed through three methods. There is a three hour examination (60%) at 

the end of the module, an individual essay assignment of 2500 words submitted at the end of the first 

semester, and an individual project assignment, equivalent to 2500 words, submitted in Semester 2. 

The two pieces of course work have equal weighting contributing to 40% of the module assessment. 

The topics on which students are assessed relate to key aspects of the syllabus and are intended to be 

problem solving in nature. The examination is in two halves with questions related to both semesters. 

One half will be quantitative in nature and the other will be qualitative. Answers will be in the form of 

essays, numerical solutions and diagrammatical representations. 


The syllabus will build on latest research and developments in operations management and research 

strategy. The students will be shown how to critically analyse the latest strategic thinking in operations 

management and to discuss the relevance of these strategies to various operational environments. 

Coverage of the syllabus content will be achieved through the effective linking of key research papers 

with specific taught sessions where the underpinning knowledge and specific research themes are 

reinforced. Selected research papers will be provided to the students and discussed during the lecture 

periods. From here key tools, techniques and paradigms are drawn out and fully developed in the 

teaching phase of the lecture. Figure 1 below shows the learning approach. 

Research Approach 

Adopted, Research 

Themes, Findings etc 

Research 

Research 

Papers 

Papers 

Tools, Techniques, 

Frameworks proposed and 

adopted 

Underpinning Underpinning / / Supported Supported Teaching Teaching Themes 

Themes 

Figure 1 – Learning Approach 

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Strategic direction of research, how 

does the paper inform / set strategy 

in operations management


The module tutors will review annually the top 10 papers that have made a significant contribution in 

the field of operations management. Candidate journals include, but are not limited to, Journal of 

Operations Management, International Journal of Operations and Production Management, International 

Journal of Production Research and International Journal of Production Economics. The papers will also 

be selected based on their research methods content pertinent to the field of operations management. 

Research data sources will be categorised as archival, empirical, analytical and opinion. 


Hill, T., Operations management : strategic context and managerial analysis, Macmillan, 2000 

(Further list will be provided) 

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ADVERTISING AND MARKETING COMMUNICATIONS 

MANAGEMENT 




PROGRAMMES: BSc Econ Accounting and Management, BSc Business Management, 

BSc Business Management (Human Resources), BSc Business 

Management (International Management), BSc Business 

Management (Logistics & Operations Management), BSc Business 

Management (Marketing), BSc Business Management with a 

European Language, BSc Business Studies and Japanese, BSc 

Business Management & Finance 


The module aims to provide students with an understanding of marketing communications. The 

module helps students to examine the behavioural and communications theories that underpin or 

contribute to marketing communications. Also, students will focus on the specific promotional tools 

(such as advertising, direct marketing, sales promotion, personal selling, and public relations) that are 

available to organisations to communicate with their external and internal audiences. 




• Understand the range of marketing communications vehicles available to the 

marketer 

• Explore underpinning communications theory within the marketing communications context 


• Critically appraise and evaluate marketing communication models and theories 

• Formulate, evaluate and report marketing communications mix solutions and/or strategies 

• Critically appraise and account for the value of market intelligence through marketing 

research or communication planning and control, and the associated information system 

issues. 


• Critically evaluate marketing communications mix components and/or strategies in developing 

successful integrated marketing communication campaigns 

• Analyse, evaluate and apply a variety of marketing information and research approaches 

within the development of marketing communications programmes and for the evaluation of 

these. 


• Demonstrate ability to analyse concepts and theories and to apply these to different contexts 

and then to evaluate applicability and implications within both a business and societal 

context. 


There are 44 hours of classes. The lecture programme consists of one hour of teaching followed by a 

one hour interactive session that includes the use of videos, the Internet and analysis of case studies. 

The module also involves the use of guest speakers. Students are supported throughout the module 

with electronic Blackboard facilities. 


ASSESSMENT: 


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One 3 hour examination in the Spring Semester. 


One assignment of 2500 words to be submitted in week 2 of the 


Assessment is via one individual assignment and a three hour examination, selected to achieve the 

learning outcomes for the module. The continuous assessment is based on a practical piece of work 

that permits assessment of students’ abilities, skills and competencies related to all of the learning 

outcomes. The focus of the continuous assessment remains on developing and evaluating skills and 

abilities related to comprehension and application. The assessment will normally be based on major 

marketing communications case study which assesses these competencies and provides important 

formative as well as diagnostic assessment of students. 

The final examination component then evaluates students’ overall abilities, skills and competencies 

related to all of understanding, analysis, application, synthesis and evaluation. 


Marketing communication theories, process, role of signs, meaning and culture 

Integrated marketing communications and the marketing communication planning process 

Sequential models of advertising, elaboration likelihood model, role of advertising and branding 

Context of communications – ethics, self regulation and legislation; the international dimension 

Tools of marketing communications, aim, key characteristics, selection and effectiveness 

Comprehensive discussion of major tools such as advertising, sales promotion, direct marketing; 

public relations; personal selling 

Message appeals and strategies; media characteristics, planning and strategy; agency - client 

relationship 

Communications for services marketing and for business to business marketing 


Fill, Chris (2005), Marketing Communications: engagement, strategies and practice, 4th edition, 

Prentice Hall Europe 

De Pelsmacker Patrick, Geuens M. and Van den Bergh J. (2007), Marketing Communications, A 

European Perspective 

Pickton, D. and Broderick, A. (2005), Integrated Marketing Communications, Pearson 

Education/Prentice Hall, 

Smith, P. R. and Taylor, J (2004), Marketing Communications: An Integrated Approach, 4th edition, 

Kogan Page: London 

Shimp. Terrance A. (2000), Advertising Promotion: supplemental aspects of integrated marketing 

communications 

Evans, Martin, O’Malley, L., and Patterson, M., (2004), Exploring Direct & Customer Relationship 

Marketing, 2nd edition, London: Thomson. 

Tapp, Alan (2000), Principles of Direct and Database Marketing, 3rd edition, Pearson 

Evans, M., Jamal A., and Foxall, G., (2009), Consumer Behaviour, second edition, Wiley: London 

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ANALYSIS OF FINANCIAL REPORTING INFORMATION 




PROGRAMMES: BSc Accounting & Finance; BSc Accounting, BSc Accounting with a 



The module aims to enable students to use and evaluate financial statements in company investment 

appraisal and understand the relationship between financial reporting and market-based information. 



(A Knowledge and Understanding) 

• Show a systematic knowledge of how financial reporting information can be used in 

fundamental valuation models. 

• Show a systematic knowledge of the empirical research into the relationship between 

financial reporting data and stock market data. 

• Distinguish between operating and financing items in financial reporting information. 

• Discuss how financial reporting information can be used in the analysis of credit risk. 

• Understand how to assess the quality of financial reporting information. 

• Discuss the implications of the efficient markets hypothesis for the analysis of financial 

reporting information. 

(B Intellectual Skills) 

• Synthesise and evaluate primary and secondary data. 

• Solve problems, including the ability to manipulate financial and other numerical data and to 

apply statistical concepts at an appropriate level. 

• Exercise powers of inquiry, logic, and critical analysis, interpretation and evaluation of 

arguments and evidence. 

• Sustain a critical argument in writing. 

(C Discipline Specific Skills) 

• Evaluate and apply financial ratios to assess company performance. 

• Use various types of financial reporting information as inputs to fundamental accounting 

valuation models. 

• Apply corporate failure prediction models using financial reporting data. 

(D Transferable Skills) 

• Communicate ideas, principles and theories effectively by oral and written means. 

• Exercise initiative, self reliance and time management skills and work independently. 

• Appreciate alternative viewpoints. 

• Exercise numeracy, problem solving and IT skills. 

• Access and analyse information using a variety of research resources both traditional (e.g. 

library) and IT (e.g. statistical programs and databases). 


The formal timetabled component of the module comprises approximately eighteen lectures and four 

classes. The lecture programme, which is supported by detailed handouts, is used to introduce 

material to students, to direct them (through the use of recommended reading and web sites 

included in the handouts) to sources which will enable them, during the private study time they 

devote to the module (fifty eight hours), to increase their knowledge and understanding of that 

material, and to empower them to attempt the problems which are set for classes. Classes are 

closely integrated to the lecture programme and are designed to enable students to apply the 

material covered in that programme to solve problems and to discuss and evaluate those solutions. 

In order to get the most out of classes, it is essential that students should attempt to work the 

questions set for each class before that class takes place so that they may contribute fully to any 

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discussion of the issues raised by those questions. 


ASSESSMENT: 


One 2 hour examination at the end of the autumn semester 

The examination paper is designed to enable students to demonstrate their intellectual skills of 

analysis, synthesis and evaluation and the extent to which they have met the module learning 

outcomes. The paper will include questions of two types: first, problem questions requiring students 

to use the theoretical and technical material from the module to solve problems and to evaluate their 

solutions; second, essay questions designed to enable students to demonstrate their understanding of 

the theoretical, technical and empirical material covered on the module. 

Informal assessment is provided through the class problems (for which solutions are provided) which 

enable students to self-assess the extent to which they are meeting the module learning outcomes. 

In addition the module coordinator is available at advertised times throughout the module to answer 

queries and discuss progress with students. 


Assumptions and limitations of financial ratio analysis. Prediction models and financial reporting 

information. Company valuation with financial reporting information. Financial reporting information 

and stock market data. Distinction between operating and financial items. Reformulation of financial 

statements. Assessing the quality of financial reporting information. Analysis of qualitative financial 

reporting data. 


Penman, S.H. (2004) Financial Statement Analysis and Security Valuation (4 th edition), McGraw Hill. 

Barker, R. (2001) Determining Value FT Prentice Hall. 

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APPLIED MACROECONOMICS AND FINANCE 




PROGRAMMES: BSc Econ Accounting and Economics, BSc Econ Business Economics, 

BSc Econ Economics and Management Studies, BSc Business 

Economics and a European Language 


The Applied Macroeconomics and Finance module aims to: 

• provide students with the ability to understand and predict the macroeconomic environment 

• encourage students to employ economic analysis to evaluate macroeconomic policy 

• develop and enhance the skills and materials obtained in the year 2 Macroeconomic Theory 

module. 

• enhance, through teaching and learning, subject-specific and transferable skills, including 

technical, analytical and research methods. 




• students will understand the macroeconomic behaviour of the principal world economies 

• recognise the potential and limits of macroeconomic theory an aid to predicting 

macroeconomic variables. 

• understand the roles of policymakers and the constraints upon them in determining 

macroeconomic outcomes. 


• analytical skills: Students are expected to apply logical analysis and modelling to 

macroeconomic problems. 

• evaluative skills: Students should be able to accurately identify macroeconomic problems, and 

to understand how policy makers might seek solutions to them. 


• appreciate the usefulness and limitations of economic theory to predicting the 

macroeconomy. 

• recognise the significance of limitations and constraints on macroeconomic policy-makers 


• work individually, setting goals and developing ideas. 

• problem solve using a range of quantitative methodologies 

• develop logical and concise solutions to specific decision-type problems. 

• respond accurately to questioning on researched topic areas 

• collect, organise and analyse data on defined topics 

• use a variety of information and technology resources, including electronic data sources and 

the internet. 


Teaching occurs in the Autumn and Spring semesters. There are approximately 44 hours of contact 

comprising 34 hours of lectures and 10 hours of classes. Lectures provide students with an outline of 

the course material. Students are encouraged to read around the module topics through a series of 

key reading from a core text, and with some supporting information from satellite texts. Classes 

concentrate on set numerical and essay style problems allied to the core lecture material. Students 

prepare answers to problems, deliver brief presentations of solutions, and participate in class 

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discussions. 

Classes explore particular decision situations in more detail. Class questions typically require a mix of 

qualitative and qualitative solutions. 


ASSESSMENT: 


One 2 hour exam at the end of the Autumn semester. (20%) 

One 3 hour examination at the end of the Spring semester based on 

material covered in both semesters. (80%) 

The two hour examination at the end of the Autumn semester will examine students understanding of 

key concepts and theories relating to semester one topics. 

The examination at the end of the Spring Semester is based on material covered in both Semesters. 

This examination requires students to answer both essay questions and multi-part quantitative 

questions. Students will demonstrate that they understand the theoretical foundations of the course, 

provide critiques of ideas and methodologies where necessary, and be able to apply logical, scientific 

approaches to decision-making in a range of decision situations. 


The real macroeconomy: economic growth, labour markets and unemployment, private sector 

demand, the real exchange rate 

The supply and demand for money: monetary policy 

Inflation and business cycles: aggregate demand and supply 

Macroeconomic policy: fiscal policy and debt, demand management, supply-side policy, growth policy, 

forecasting models 

Asset Markets: market efficiency, concepts and testing, derivatives and risk 


O Blanchard, Macroeconomics 3 rd ed (Prentice Hall 2003) 

M Burda and C Wyplosz, Macroeconomics: A European Text, 5 th edition (OUP 2009) 

W Carlin and D Sockice, Macroeconomics: Imperfections, Institutions and Policies (OUP 2006) 

D Miles and A Scott, Macroeconomics: Understanding the Wealth of Nations, 2 nd Edition (Wiley 2005) 

PR Krugman, The Return of Depression Economics and the Crisis of 2008 (Penguin 2008) 

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APPLIED WELFARE ECONOMICS 




PROGRAMMES: BSc Econ Banking & Finance, BSc Econ Business Economics, BSc 

Econ Economics, BSc Econ Economics and Management Studies, BSc 

Econ Accounting and Economics, BSc Economics with a European 

Language, BSc Econ Economics and Politics, BA Economics with a 

Humanities Subject, BSc Econ Business Economics with a European 

Language, BSc Econ Banking and Finance with a European Language 


Applied Welfare Economics is offered as an optional module for final year students across a range of 

single and joint honours degree programmes involving Economics. Its role within the degree 

programme is to complement the core microeconomic theory modules by applying the analysis of 

welfare economics to policy issues, such as cost-benefit analysis and socioeconomic problems 

including climate change and crime. Applied Welfare Economics builds on the welfare economics 

content of year 2 microeconomics. The coursework offers final year students a chance to develop and 

display skills by undertaking a small individual research project which applies economic analysis to a 

real problem of their own choice. 

Applied Welfare Economics aims to provide students with a thorough grounding in the theory, 

concepts, principles and techniques of welfare economics focusing in particular on the application of 

economic analysis to policy problems in areas such as health, education, transport, crime prevention 

and the environment including the use of cost-benefit and cost-effectiveness analysis. 




• explain the welfare economic foundations of cost-benefit analysis and the principles behind its 

application to investments in, for example, education and transport. 

• distinguish the main techniques used to measure and value social costs and benefits and be 

able to contrast implicit and explicit valuations of specific non-marketed costs and benefits. 

• apply and explain the discounting techniques used by cost-benefit decision rules, including 

NPV and IRR 

• interpret the results of published cost-benefit and cost-effectiveness studies, and assess the 

methodology employed. 


• apply deductive reasoning, numerical concepts and logical analysis to cost-benefit 

calculations. 

• recognise the relevance of rationality, marginal analysis and equilibrium to decision problems 

in the public sector. 

• apply appropriate economic analysis, for instance the analysis of choice under uncertainty or 

of externalities to problems of social and economic concern and to see the common links in 

economic terms between apparently disparate problems. 

• evaluate the economic basis for alternative proposals to improve the allocation of resources 

within specific areas, for example the use of QALYs to guide expenditure decisions in health, 

and the introduction of road pricing to reduce congestion costs. 


• be able to argue for the relevance of an economic approach to persistent economic and social 

problems in the UK, such as climate change, transport safety and health services rationing. 

• simplify complex problems using a cost-benefit framework into a form which allows effective 

problem solving and decision making. 

• identify systematically the opportunity costs and benefits associated with alternative courses 

of action. 

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• choose their own topic and work on their own to produce a unique and substantial piece of 

applied economic research, setting their own schedule, developing their own ideas and 

working to their own self-imposed standards. 

• collect their own data using appropriate methods, for instance by designing and 

administering a questionnaire. 

• organise and analyse data using recognised quantitative techniques, such as regression 

analysis or discounting. 

• integrate factual information and data derived into the consideration of quantifiable 

problems. 


Teaching takes place in both the autumn and spring semesters. There are approximately 31 hours of 

lectures and 12 hours of classes. Applied Welfare Economics is divided into 10 blocks. Each block 

includes three hours of lectures and one one-hour class. Two hours are spent in workshops in which 

the students work through a problem in small groups. 

Each lecture is accompanied by a handout which makes explicit the structure of the lecture by 

providing the headings. The handout may also include data and or diagrams. Students are 

encouraged to ask questions either during or after lectures. For each block students are provided with 

a reading list identifying references which are useful for preparation for class exercises and for 

revision. Although the module is taught in ten blocks, the lectures pick out and emphasise common 

economic themes across topics. 

Classes are held in groups of approximately ten students. Questions for classes are handed out a 

week in advance and students prepare their answers before the class. The class problems expect 

written answers; these are discussed in class, taken in and returned with marks and comments. The 

work students do for classes is not part of the formal assessment. It encourages students to keep up 

with the material, to do some reading, to test their comprehension by tackling a set of specially 

designed exercises and to present and discuss the issues and analysis. Where classes do not get 

through all the questions the answers may be made available via Blackboard. 


ASSESSMENT: 




One project of approximately 3000 words to be submitted in week 7 

of the Spring Semester 

Each student chooses her/his own Applied Welfare Economics project topic, with guidance from staff. 

Each student comes forward with a proposal which incorporates a question which they propose to 

answer plus some ideas about how to tackle the question e.g. how to value the key costs and 

benefits of a project to be analysed. Staff approve each topic as feasible, and also comment on the 

proposals in outline form. The students carry out their own research and write up their own project. 

This format combines maximum freedom of choice on topic with a rigorous insistence on the 

relevance of economic analysis and the use of appropriate methods. During the process of carrying 

out the project, from idea to submission, students acquire both subject-specific and transferable 

skills. The emphasis in this coursework is on using the economics, applying the principles to do 

something – it is a practical exercise. 

The Applied Welfare Economics exam is split into two sections. Section A carries one third of the 

marks and offers students a choice of one question out of two. Question 1 consists of an extract 

from an article or paper, and asks a series of eight questions about the contents; question 2 asks 

students to set up and comment on an economic appraisal of a current policy issue. Section A carries 

two thirds of the marks and contains five essay questions, from which students choose two. These 

essay questions will typically ask students to evaluate the standard methods employed in cost-benefit 

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analysis or to apply economic principles to more than one subject area. 


The syllabus of Applied Welfare Economics focuses on the main areas of application of welfare 

economics principles to policy decisions. The principles and practice of cost-benefit analysis are 

covered, and the actual and potential contribution to be made by an economic approach to solving 

specific current problems in the fields of transport, the environment, crime, health and education are 

analysed. 


A Boardman D Greenberg A Vining and D Weimer (2010) Cost-benefit analysis: concepts and 

practice, 4 th edition. 

E J Mishan & E Quay (2007) Cost Benefit Analysis, 5 th Edition. 

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BUSINESS APPLICATIONS 




PROGRAMMES: BSc Econ Business Economics, BSc Econ Accounting and Economics, 

BSc Econ Economics and Management, BSc Econ Business Economics 

with a European Language 


The Business Applications module aims to develop the concepts explored in the Managerial Economics 

module, and make use of the skills acquired in the Empirical Business Economics module to analyse 

business decisions using 

spreadsheets. The module extends the economics discipline by showing how the knowledge and skills 

acquired in core economics areas may be applied to resource allocation problems within the firm. It 

deals with the structure of business decision making, and how practical applications can be 

enlightened using theoretical economic perspectives. It develops computerised models for the 

economic analysis of business decisions and equips students with the principles and techniques of 

economic, statistical and mathematical analysis as applied to key decision areas in business 

management. In the process it provides transferable subject-specific and core analytical skills that will 

be of value to students in their future education and careers. 




• apply and assess the ‘modelling’ paradigm to the solution of complex real world problems 

commonly met in the business environment 

• understand the diagnostic statistics available in statistical packages, and various other 

attributes for assessing the reliability of forecasts 

• evaluate demand estimations, forecasts and their theoretical bases 

• appreciate the purpose and limitations of national economic and market data and be 

competent in utilising them for decision models and forecasts 


• describe and apply the main principles and techniques of Business Economics, particularly 

those which utilise spreadsheets: 

• apply the methodology of economic and financial modelling used in decision making, 

including investment appraisal, pricing and output analysis which can benefit from 

quantitative techniques. 


• economic and Statistical modelling 


• computer-model development is fostered in small workshop groups so that students acquire 

the necessary skills step by step. The material used in these workshops is simplified for 

pedagogic reasons but the principles studied are widely transferable to a business 

environment. 


Teaching will be conducted through 22 hours of lectures and 22 one-hour computer workshops. 

Lectures, which often include demonstrations using modern audio-visual equipment, offer a coherent 

statement of the syllabus whilst the practical application of the models studied in the computer 

laboratory offer important re-enforcement and ‘learning by doing’. Regular supervised computer lab 

workshops in smaller groups enables monitoring of student progress and to ensure the acquisition of 

the necessary spreadsheet skills and knowledge. 

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ASSESSMENT: 


One 2 hour examination at the end of the Autumn semester based 

on the syllabus covered in that semester. (30%) 


the syllabus of BOTH semesters. (70%) 

Examinations are held in the microcomputer laboratories 


1. Computer Models of the Firm 

Profit-maximising monopoly and Baumol's sales-revenue-maximising model. 

Solutions involving spreadsheet tabulation, backward iteration, and the logical function of 

Excel 

2. Investment and Finance 

Discounted cash flow and the NPV, IRR and PMT functions of Excel. Application of DCF to 

project selection, ranking, rent or buy, capital rationing, and optimal replacement problems. 

3. Management Science 

Application of linear programming to production and transportation; with marketing 

applications in advertising, media planning and site location analysis. Extensions to the 

capital rationing problem. 

4. Forecasting techniques 

Definitions, methodologies, qualitative, quantitative, costs and benefits. Development of 

smoothing techniques: time-series decomposition, simple exponential smoothing and the 

Holt-Winters triple parameter technique. 

5. Revision of basic 2-variable regression model 

Development of multiple regression as a spreadsheet application. Basic forecasting with the 

model and its implementation in the spreadsheet. Point and interval forecasts. Sources of 

forecasting error. 

6. Regression methodologies 

(i) Co-linearity, ARMA, indicators, causal modeling:- e.g. the Stock Adjustment Model. 

(ii) Ex ante and Ex post forecasts. Naïve forecasts. Forecast assessment – accuracy 

analysis. 

(iii) Using single equation economic models – The policy problem. 

(iv) Using simple simultaneous economic models and their spreadsheet application - Gauss- 

Seidel. 

7. Dynamic simultaneous economic models 

Dynamic modeling in a spreadsheet environment. Application for forecasting, economic 

modeling and policy decision with 'what-if' analysis. 

8. Statistical forecasting strategy. 

ARMA models – identification, estimation and diagnostic checking in the spreadsheet 


D. Whigham “Quantitative Business Methods Using Excel” Oxford 

J.F. Barlow “Excel Models for Business and Operations Management” (3 rd ed) Wiley 2005 

D. R. Anderson, Sweeney & Williams “Contemporary Business Statistics with Microsoft Excel” 

Thomson/Southwestern 

D. R. Anderson, Sweeney & Williams “An Introduction to Management Science - quantitative 

approaches to decision making” Thomson/Southwestern 

A. H. Kvanli , Pavur & Keeling “Introduction to Business Statistics - a computer integrated data 

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analysis approach” Thomson/Southwestern 

Of less direct relevance for the reasons given are: 

A. Gully "Modelling Economic Systems - a spreadsheet-based approach" International Thomson Press 

1996 (uses Quattro Pro) 

J. Bridge "Managerial Decisions with the Microcomputer" Philip Allan Chs 2, 4, 5 (uses Lotus 1-2-3) 

The following do not use spreadsheets but discuss some of the topics covered. 

G. Judge "Quantitative analysis for Economics and Business" Chs 8,9,10 

G. Keating "The Production and use of Economic Forecasts" 

J. Jarrett "Business Forecasting Methods" Blackwell 1987 

R. S. Pindyck and D. L. Rubinfeld “Econometric Models and Forecasting” McGraw-Hill 

H. Levy and M. Sarnat “Capital Investment and Financing Decisions” Prentice Hall 

S. Lumby “Investment Appraisal and Financing Decisions” Van Nostrand Reinhold 

The underlying econometric theory can be found in the text: 

R C. Hill et. al. “Principles of Econometrics” (3 rd ed) Wiley 2008 Sections 4.1 (app4A), 6.8, Ch 9, 12, 

The following are comparatively easy reading and deal with closely related IT and economic data 

analysis issues. 

G. Judge “Computing Skills for Economists” Wiley 2000 

G. Koop “Analysis of Economic Data” (3 rd ed) Wiley 2008 

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BUSINESS FINANCE 




PROGRAMMES: BSc Accounting, BSc Econ Accounting & Economics, BSc Econ 

Accounting & Management, BSc Accounting & Finance, BSc 

Accounting with a European Language, BSc Econ Economics & 

Finance, BSc Business Management & Finance. 


The aim of the module is to build on the knowledge of finance acquired in previous modules, in 

particular BS2502, by introducing students to further areas of the underlying theory and practice of 

finance. 




• show a systematic knowledge and understanding of, and critically evaluate, the efficient 

markets hypothesis and its implications for investors on the stock exchange and for firms’ 

investment and financing decisions. 

• show a systematic knowledge and understanding of, and critically evaluate, option pricing 

theory and its implications for firms’ investment and financing decisions. 

• show a systematic knowledge and understanding of, and critically evaluate, the theory and 

practice of capital structure decisions. 

• show a systematic knowledge and understanding of, and critically evaluate, different types of 

leases and the underlying theory of lease or buy decisions. 


practice of corporate dividend decisions. 


practice of working capital management and treasury management. 

• show a systematic knowledge and understanding of, and critically evaluate, the motives, 

methods and consequences of corporate merger activity. 

• show a systematic knowledge and understanding of, and critically evaluate, a range of other 

corporate restructuring practices. 

• show a systematic knowledge and understanding of, and critically evaluate, the causes of 

corporate failure and quantitative and qualitative failure prediction models. 


• synthesise and evaluate primary and secondary data. 

• solve problems, including the ability to manipulate financial and other numerical data and to 


• exercise powers of inquiry, logic, and critical analysis, interpretation and evaluation of 


• sustain a critical argument in writing. 


• price options and apply option pricing models to corporate financing and investment 

decisions. 

• apply appropriate techniques to evaluate lease or buy decisions. 

• apply a range of inventory management, credit management and cash management models. 

• apply a range of techniques for the management of interest rate risk. 

• use a variety of models to value potential takeover targets. 

• apply and interpret corporate failure prediction models based on quantitative and qualitative 

data. 

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• communicate ideas, principles and theories effectively by oral and written means. 

• exercise initiative, self reliance and time management skills and work independently. 

• appreciate alternative viewpoints. 

• exercise numeracy, problem solving and IT skills. 

• access and utilise information in a variety of research resources both traditional (e.g. library) 

and IT (e.g. the Internet, databases). 


The formal timetabled component of the module comprises approximately thirty two lectures and 

twelve classes. The lecture programme, which is supported by detailed handouts, is used to 

introduce material to students, to direct them (through the use of recommended reading and web 

sites included in the handouts) to sources which will enable them, during the private study time they 

devote to the module (one hundred and sixteen hours), to increase their knowledge and 

understanding of that material, and to empower them to attempt the problems which are set for 

classes. Classes are closely integrated to the lecture programme and are designed to enable students 

to apply the material covered in that programme to solve problems and to discuss and evaluate those 

solutions and the theories underlying them. Students are supported throughout the module through 

private consultation with the module coordinator. 


ASSESSMENT: 


One 1½ hour examination at the end of the autumn semester (30% 

weighting). 

One 3 hour examination at the end of the spring semester (70% 

weighting). 

Formal assessment is by means of one and one half hour examination at the end of the autumn 

semester and one three hour examination at the end of the spring semester. 

The examination papers are designed to enable students to demonstrate their intellectual skills of 

analysis, synthesis and evaluation. Both papers include questions of two types: first, problem 

questions requiring students to use the theoretical and technical material from the module to solve 

problems and to evaluate their solutions; second, essay questions designed to enable students to 

demonstrate their understanding of the theoretical and technical material covered on the module. 


enable students to self assess the extent to which they are meeting the module learning outcomes. 

In addition the module coordinator is available throughout the module to answer queries and discuss 

progress with students. 


The efficient markets hypothesis; option pricing, capital structure and the cost of capital; the lease or 

buy decision; dividend policy and corporate value. Working capital and treasury management, 

mergers and take-overs, company restructuring; financial failure; small company finance. 


Arnold G. C., Corporate Financial Management, 4th Edition, FT Pitman 2008 

Brealey, R A, Myers, S C, Principles of Corporate Finance, 9 th Edition, McGraw-Hill, 2008 

Pike, R and Neale, B, Corporate Finance and Investment, 6 th Edition, FT Prentice Hall, 2009 

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BUSINESS HISTORY 




PROGRAMMES: BSc Econ Banking & Finance, BSc Econ Business Economics, BSc 

Econ Economics, BSc Econ Accounting & Economics, BSc Econ 

Economics & Management Studies, BSc Econ Economics & Politics, 

BA Economics with Humanities, BSc Economics with a European 

Language, BSc Econ Banking & Finance with a European Language, 

BSc Econ Business Economics with a European Language. 


The aim of the module is to provide third year undergraduates with an understanding of the method, 

content and scope of Business History. 




• describe and analyse the main changes in the structure of the British economy over the past 

two centuries and the impact of such changes on business 

• describe and analyse changes in the relationship between business and the state in Britain 

since the mid-nineteenth century 

• describe and analyse the factors explaining the rise of the accounting profession in Britain 

since the end of the nineteenth century 

• describe and analyse the factors influencing the development of business size in Britain since 

the end of the nineteenth century 

• describe and understand the factors which have affected the development of organisational 

structures, management systems and decision-making in British business since the end of the 

nineteenth century 

• understand the nature of business, how it has changed over time and the forces that have 

led to such changes 


• demonstrate an ability to assimilate facts and use them as the basis of an intellectual 

argument 

• understand the difference between the theoretical (deductivist) approach of economic 

theorists and the empirical (inductivist) approach of historians 


• exhibit an understanding of 

o the nature and limitations of historical evidence 

o the meaning and usefulness of historical data 


• demonstrate an ability to argue a case from different viewpoints 


The formal timetabled components of the module comprise 34 hours of lectures and 10 hours of 

seminars. The lecture programme is supported by a module outline which details the structure of the 

module. Students receive a series of lecture handouts to accompany the lectures and a regular series 

of fortnightly seminars integrated with the lectures is held, which encourages students to utilise the 

knowledge gained, both from lectures and from their associated reading. The questions on the 

seminar worksheets test student understanding of key topics discussed in the lectures. Students are 

also encouraged to realise that there may not be definitive answers to historical questions and are 

encouraged to express their own views (backed up, of course, by appropriate evidence and, if 

appropriate, underlying theoretical models). The seminars encourage students to express their 

understanding of key facts and arguments, thereby developing their own historical and analytical 

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skills and thereby helping them attain the learning outcomes for this module. Students are supported 

throughout the module through the provision of fortnightly seminars and access to the lecturers 

through advertised weekly ‘office hours’ and student-lecturer e-mail contact. 


ASSESSMENT: 




Two assessed essays, one to be submitted in week 12 of the Autumn 

Semester and one to be submitted in week 10 of the Spring 

Semester. 

An assessed essay is set in each semester, based on certain of the material presented in that 

semester. The assessment tests the ability of students to understand the nature of some historical 

debate, and their ability to marshal historical evidence and logical arguments in support of the case 

that they have made. 

The Spring Semester examination is divided into two sections. The two sections each contain a range 

of questions relating to the material taught in the separate semesters. Students are required to show 

an understanding of material taught in the two semesters by answering two questions from each of 

the sections. Questions are set in a manner which requires students to show an ability to understand 

the key arguments/elements in answering the question and to support their answers with appropriate 

supporting historical material. 

Informal assessment is provided through seminar questions, which are designed to stimulate 

independent learning and to provide an ongoing mechanism for assessing the extent to which 

students are meeting the module’s learning outcomes. Seminars also encourage students to engage 

in historical debate and to develop their skills in expressing historical arguments. Students are 

encouraged throughout the module to consult those members of staff who conduct their seminars, 

the lecturers and the module leader, with any queries they may have about any aspects of the 

module. 


The syllabus is divided into two main sections: (i) the macroeconomic aspects of business history 

(comprises one-half of the module teaching allocation): structural change of business sectors; 

development of research and development, marketing and advertising; the growth of professions; 

state-business relations; social business issues; (ii) the microeconomic aspects of business history 

(one-half of the module teaching allocation): growth of legal business forms; finance of business; 

growth in business size; different models of organisational structure; business goals and the historical 

development of methods to assist decision-making. 


John F Wilson, British Business History, 1720 – 1994, Manchester University Press, 1995 

David J Jeremy, A Business History of Britain 1900 – 1990s, Oxford University Press, 1998 

Gordon Boyce and Simon Ville, The Development of Modern Business, Palgrave, 2002 

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CORPORATE GOVERNANCE AND ACCOUNTABILITY 




PROGRAMMES: BSc Accounting, BSc Accounting with a European Language, BSc 

Accounting & Finance 


This module aims to introduce students to recent developments in the theory and practice of 

corporate governance, corporate accountability to stakeholders, corporate social responsibility, 

corporate social and environmental reporting and socially responsible investment. 




• describe the growing relevance of an ethical framework to accounting and finance; 

• describe the recent reforms in UK corporate governance and evaluate their impact on UK 

companies and the institutional investment community; 

• analyse the development of corporate social and environmental reporting and evaluate the 

growing importance of accountability in the UK; 

• explain the development of socially responsible investment in the UK and evaluate the impact 

of its recent growth on companies and institutional investors, focusing on the pension fund 

community; 

• critically evaluate the current state of corporate governance and accountability in an 

international context 


• assess the viability of an ethical framework in the context of UK accounting and finance; 

• evaluate the usefulness of the broad corporate governance reform agenda to UK companies 

and stakeholders; 

• assess international attempts to reform corporate governance in a comparative context. 


• acquire ability to compare and contrast corporate governance policy documents over time 

and between countries; 

• evaluate the findings of academic research relating to corporate governance and 

accountability in order to assess the impact of corporate governance reform on UK companies 

and stakeholders. 


• acquire the ability to analyse, compare and contrast policy documents 

• acquire the ability to evaluate the findings of academic and professional research 

• acquire the ability to assess the impact of policy in the area of accounting and finance 

• acquire the ability to consider the views of a diverse group of interested parties in relation to 

a policy issue 


Teaching takes place in the Spring semester. The formal timetabled components of the module 

comprise seventeen hours of lectures and five hours of classes. Lectures cover theoretical concepts 

and summaries of the most recent practice by companies and financial institutions. The findings of 

recent academic and professional research are discussed in relation to relevant theory and practice. 

Case study material is used and in order to broaden the students' understanding of corporate 

governance and accountability the lectures and classes blend theory and practice. Questions for class 

discussion are distributed in the first lecture. In the first class, the tutor will cover the required 

material and will split the students into four groups. For the following four classes, each group will 

prepare and present their answers to the week's questions. Following the presentation there will be 

an open discussion of the practical and policy implications of the topics covered. The content of 

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lectures and classes are moulded to the learning outcomes of the module so that students who 

successfully complete the module are able to demonstrate achievement of all of the required 

outcomes. 


ASSESSMENT: 


One 2 hour examination at the end of the Spring semester 

The examination is designed to allow students to demonstrate that they have achieved the learning 

outcomes established for this module as well as to test their skill development. The examination 

consists of six questions. They are all essay questions but some questions will be split into several 

parts. Every question will require students to evaluate the topic under consideration from both a 

theoretical and practical perspective. Students are required to demonstrate that they have acquired 

intellectual, communication, evaluative and subject-specific skills from taking this module. 

Informal assessment takes place through class sessions where students are required to prepare 

solutions to class questions, distributed at the beginning of the module. The assessment involves 

students demonstrating that they have attempted all questions either by presenting the material to 

the class or through the medium of class debate and discussion. Class questions focus principally on 

evaluation and analysis of academic papers as well as policy documents and case study material. All 

questions require students to demonstrate theoretical and practical competence as well as the ability 

to apply knowledge to discussions and case studies. Students are encouraged throughout the module 

to submit queries, essay plans and any problem they encounter to the module co-ordinator and/or 

tutors on the module for discussion. 


Ethics in finance and accounting; defining corporate governance and competing theoretical 

paradigms; initiatives and codes of practice in the UK; internal control; the impact of corporate 

governance reform in the UK; the role of institutional investors; corporate governance and 

accountability; corporate social and environmental reporting; socially responsible investment; 

globalising corporate governance and convergence; empirical evidence on developments in 

international corporate governance. 


Solomon, J F (2007) Corporate Governance and Accountability, John Wiley & Sons Inc 

Monks, R A G and N Minow (2001) Corporate Governance, 2 nd edn, Blackwell, Oxford 

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DEVELOPMENT OF ACCOUNTING 




PROGRAMMES: BSc Accounting, BSc Accounting & Finance, BSc Accounting with a 


AIMS OF THE MODULE 

This single module aims to provide students with an understanding of key aspects in the development 

of accounting practices, personnel and institutions. The module introduces students to major episodes 

in the development of the financial reporting practices used today and the continuously evolving 

nature of the discipline of accounting. The module therefore provides students with an awareness of 

the nature, potential and limitations of modern accounting based on a study of selected episodes in 

its historical development. 




• that accounting practices, theories and institutions have changed over the years in response 

to the priorities of different groups in society and to changing environmental conditions. 

• show that they understand the process of accounting change and why accounting practices, 

theories and institutions exist in their present form. 


• show they possess the capacity to identify and search for relevant information. 

• demonstrate the ability to evaluate and interpret written material. 

• gather information and construct a narrative around it. 


• identify and explain the nature, uses and limitations of the study of accounting history. 

• demonstrate an understanding of the success, or otherwise, of proposals put forward for 

reforming financial reporting practices to take account of changes in the value of money. 

• demonstrate understanding of the nature of different systems of record keeping and be able 

to evaluate views concerning their impact on economic development within a capitalist 

economy. 

• explain and analyse the differential effects of the market, regulatory bodies and 

environmental factors on the development of financial reporting practices. 

• display comprehension of the nature and purpose of the capital maintenance rule and its 

interrelationship with the calculation of distributable profit. 

• demonstrate through discussion and analysis of relevant case law and causes célèbre the 

significance of underlying conflict between the goals of preparers and users of accounting 

reports. 

• explain why and describe how the rate of accounting change varies in time and place to 

accommodate changing environmental and organisational circumstances. 

• account for the rise of the professional accountant as business manager and discriminate 

between the various routes through which (s)he has transferred skills from public practice to 

industry and commerce. 


• show capacity for independent learning 

• demonstrate the development of communication skills and the ability to present quantitative 

and qualitative data 

• work in groups, and oral and written presentation skills 

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The formal timetable components of this single module comprise 17 hours of lectures and 5 hours of 

classes. The development of accounting module is intended to stimulate students to think about the 

way in which the discipline of accounting has emerged and become transformed into its present 

state. Students are therefore provided with both basic and more demanding reading material for each 

topic so as to enable the development of the potential of students with inevitably different levels of 

ability. For classes, a distinctive learning environment is employed that involves the following: 

assignments are circulated at the start of the module; three ‘mini’ topics are identified for coverage at 

each class; each class is divided into three groups that are each allocated one of the three topics; 

identified reading material enables group members to prepare their topic prior to the class; the first 

ten minutes of the class is available for students to organise themselves into their groups, to choose a 

chairperson and to compare notes; each group then has approximately six minutes for its 

presentation which is made by the chairperson or, if they consider it appropriate, two or three 

members of the group; there follows a discussion. The purpose of this format is to help students 

develop a range of expertise that includes independent preparation of material, teamwork, and 

presentational skills. This approach I have developed proves to be an effective way of ‘breaking the 

ice’ and achieving fuller student participation in class activities. At the end of each module, students 

are supplied with ‘revision packs’ for self-testing during the exam preparation period. These contain, 

in the main, questions from past examinations together with suggested solution outlines. 

The course is based on research undertaken by the module tutor whose publications feature 

prominently in the recommended reading for the course, including the main text listed under 

‘indicative reading’. 


ASSESSMENT: 


One 2 hour examination at the end of the Autumn semester. 

The examination paper consists of six questions of which three are to be attempted. These are 

designed to cover the outcomes for the module and to test the development of knowledge over the 

module period. Questions set are designed to test students’ basic knowledge of accounting’s 

development and to be able to analyse the causes of accounting change, the possible implications of 

accounting change and to place their analyses within appropriate explanatory frameworks. 


The nature and uses of accounting history. Record keeping systems and their economic significance. 

The development of asset valuation and profit measurement procedures. Management bias and the 

manipulation of accounting data. The regulation of company accounts. The influence of the market 

and pressure groups on financial reporting practice. Creditor protection: the capital maintenance rule, 

dividend cases and divisible profit. The increasing involvement of the professional accountant in 

business management. 


Chatfield, M. (1977) A History of Accounting Thought, New York: Robert E. Krieger Publishing Co., 

chapter 7. 

Edwards, J. R. (1989) A History of Financial Accounting, London: Routledge. [main text] 

Edwards, J. R. and Walker, S. P. (eds) (2008) Routledge Companion to Accounting History. London: 

Routledge 

Hopwood, A. G. (1987) ‘The archaeology of accounting systems’, Accounting, Organizations and 

Society, pp. 207-34. 

Matthews, D., Anderson, M., and Edwards, J. R. (1998) The Priesthood of Industry. The Rise of the 

Professional Accountant in British Management, Oxford: Oxford University Press, pp. 58-78. 

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ECONOMICS OF BANKING 




PROGRAMMES: BSc Econ Accounting & Economics, BSc Econ Accounting & Finance, 

BSc Econ Banking & Finance, BSc Econ Economics & Management 

Studies, BSc Econ Banking and Finance with a European Language. 


This is a core module, which focuses on the role of banks and financial intermediaries in the 

economy. 

The aim of the module is to provide students with the economic, institutional and legal framework to 

understand the role and practice of financial intermediation in the global economy. 




• describe the process of liquidity creation and be aware of the major changes and trends in 

the UK and international banking sector in particular the implications of securitisation 

• describe the main risks relating to banking and be familiar with the main techniques of risk 

management 

• describe and interpret the UK and European regulatory framework relating to the banking 

system 


• evaluate the functions, performance and behaviour of banks and other financial 

intermediaries using basic microeconomic theory 

• use abstract reasoning with the aid of models to explain trends in banking 

• analyse implications of legislation for the workings of the banking system 


• analyse the workings of banks and other financial intermediaries and be conversant with the 

basic functions and structures of retail, wholesale and international banking 

• identify and differentiate between the various theories of the banking firm and theories of 

credit rationing and to interpret the trends in banking in relation to these theories 

• manipulate data and make simple calculations relating to Value-at-Risk and to interpret the 

results 


• communication of argument and analysis by written and oral means 

• development of numerical and problem solving skills 

• development of teamworking and presentational skills 


There will be approximately 36 hours of lectures and 8 hours of classes. Students will be required to 

prepare and present class exercises during the year. Within the class each student is assigned to a 

study group. Each student is assigned a specific exercise for the following class. In the case of 

absence, another member of the study group is expected to present the exercise. The exercises are 

designed to test the student’s comprehension of the lecture material and background reading by 

addressing both analytical and descriptive components of the course. 

Each study group is given a project that involves a 10-15000-word report and group and individual 

presentations at the end of the second semester. The project aims to develop written, oral and 

presentational skills within a team framework. The group project addresses a contemporary issue in 

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international banking (e.g. securitisation). The report will describe the mechanism and current trends, 

apply economic reasoning to explain the trends, provide an assessment of future developments, and 

discuss the wider implications. The subject matter is covered in the lectures and references are 

provided but given the topical nature of the subject students are expected to supplement the 

readings with material from their own research. The research and writing of the project give students 

practice in developing their skills in literature search including non-standard sources such as WWW, 

selecting relevant information, writing a report to a professional standard, organising data and 

working within a team framework. 


ASSESSMENT: 




One Group project to be presented in week 10 of the Spring 

Semester 

The hard-copy of the project is to be handed in at the time of the 

presentation. 

The joint written project counts for 15%. Individual presentation and individual written contribution 

counts for 7.5% each. The formal exam counts for 60%. 

The exam contains two sections and students are given 3 hours to complete the paper. 

The first section contains short answer questions testing knowledge and comprehension. Students 

have to attempt four questions from the first section. The second section requires students to answer 

2 essay type questions from a choice of 8. This part of the assessment tests the student’s knowledge 

and analytical skills. 


Financial Intermediation and the Financial System, Banking Structures of Industrialised countries, 

Retail, Wholesale and International Banking, Models of the Banking Firm, Theories of Credit 

Rationing, Euromarkets and Eurocurrency banking, Securitisation, Theory of Regulation, Deregulation 

and Free Banking, Bank Efficiency and Structure Conduct Performance, Regulation of Banks, Risk 

Management in Banking, Economics of Central Banking. 


Matthews, K & Thompson, J – The Economics of Banking, July 2005, John Wiley & Sons 

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ECONOMETRICS 




PROGRAMMES: BSc Econ Accounting and Economics, BSc Econ Banking and Finance, 

BSc Econ Business Economics, BSc Econ Economics, BSc Econ 

Economics with a European Language, BSc Econ Economics and 

Finance, BSc Econ Economics and Management Studies, BSc Econ 

Economics & Politics, BSc Econ Business Economics with a European 

Language, BSc Econ Banking & Finance with a European Language. 


This double module provides students pursuing the Economics and related schemes with the core 

techniques used in the analysis of both cross section and time series economic data. Study of the 

theory is reinforced with instruction in and use of modern econometric software. 

The aims of this module are firstly to enable students to acquire competence in the use of economic 

data for the analysis of issues and questions in economics and secondly to develop an awareness of 

the limitations of such uses. 




• explain and critically appraise the relevance to economic data of all the terms and concepts 

associated with the Classical Regression Model. 

• know how to select an appropriate functional form to represent an economic relationship. 

• explain and contrast principles of parameter estimation based on fit with those based on 

likelihood. 

• explain, compute and interpret statistical tests of composite hypotheses, omitted and 

irrelevant variables and of model stability. 

• describe how economic variables with limited values may be incorporated into regression 

models. 

• define the nature of and apply procedures for dealing with commonly occurring residual error 

structures. 

• explain the identification problem and apply procedures for the estimation of parameters in 

simultaneous equation models. 

• explain and contrast causal and ARIMA lag representations of mid-frequency time series data. 

• explain and apply valid procedures for the application of regression methods to time series 

data. 


• synthesise and evaluate the technical concepts of the syllabus 

• appraise theory and its relevance to different situations 

• plan, design and investigate a computer simulation 

• critically compare the results of data analysis with model expectations 


• compute and interpret estimates and inferential statistics associated with the two- and three- 

variable Classical Regression Model. 

• use Econometric software (Eviews) interactively to analyse supplied datasets in support of the 

learning outcomes identified above. 

• work together to program econometric software (Eviews) to carry out a Monte Carlo study of 

an econometric estimator. 


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• working with others to develop a computer based investigation 

• prepare reports integrating textual and numerical material 

• develop personal management skills associated with working to a deadline 

• finding data using both traditional and ‘web’ sources 


Teaching takes place in both the first and second semesters. In each semester there are 11 weekly 

50-minute lectures and 11 weekly 50-minute computer lab sessions. The lectures cover the 

methodology and techniques aspects of the syllabus whilst the lab sessions provide opportunities for 

application, discussion and reinforcement of the lecture material as well as giving experience using a 

‘state of the art’ econometrics computer package. 

Lectures are supported with detailed handouts, OHP slides and computer demonstrations where 

appropriate. Use of the dedicated software offers an appreciation of the advantages and 

disadvantages of interactive and programming interfaces for econometric research. The lab sessions 

are supported by offering each student networked access to the specialist econometric software, 

spreadsheet software for data management, word-processing software for report writing, E-mail for 

virtual learning environment and the Internet for data sources. 


ASSESSMENT: 


One 3 hour examination in the Spring Semester 


Two projects to be submitted in week 12 of the Autumn Semester 

and in week 8 of the Spring Semester 

The examination paper is made up of two sections. In the first, a single compulsory question 

requires the student to write briefly demonstrating their understanding of the meaning and 

importance of three out of four nominated technical terms at the root of the econometrics syllabus. 

The second section requires the student to select three questions from those offered to show a 

deeper understanding of and ability to apply the topics covered in the module. 

The continuously assessed component comprises two projects each contributing 15% of the 

assessment. These projects offer the student a limited choice of topic and require analysis of a 

mixture of prescribed and self researched data. The first project, undertaken in the autumn 

semester, is a Monte Carlo analysis of an econometric estimator or test statistics. Students work in 

small groups to develop the necessary algorithm but then write up individually the results from their 

own application. The second project, undertaken in the spring semester comprises a forecasting 

exercise in which three competing forecasting methods are assessed for their perceived success in a 

chosen context. 


(Sem1) The methodology of econometrics and basic matrix algebra form. Three methods to tackle 

the linear regression model: least squares, method of moments, maximum likelihood. Large 

sample statistical theory. Monte Carlo methods. Robust variance estimation. Omitted 

variable bias and proxy variable. Instrumental variable estimation and generalized method of 

moments. 

(Sem2) Linear probability models and limited dependent variable models. Simultaneous equations 

models. Stationary and trend stationary time series models. Analysis of nonstationary time 

series and unit root processes. 

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J.M. Wooldridge “Introductory Econometrics: A Modern Approach” (4 th Edition) South Western, 

Cengage Learning, 2009 

J.H. Stock and M.W. Watson “Introduction to Econometrics” Pearson Addison Wesley, 2003 

R. Carter Hill et. al. “Principles of Econometrics” (3 rd Edition) Wiley, 2008 

G. S. Maddala, “Introduction to Econometrics” (3 rd edition) Wiley, 2001 

R. S. Pindyck & D. L. Rubinfeld “Econometric Models and Economics Forecasts” (4 th edition) McGraw- 

Hill, 1998 

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Please note that this module will not run in the 2011-12 session 

EMPIRICAL FINANCE AND ACCOUNTING LITERATURE 




PROGRAMMES: BSc Accounting & Finance 


The module aims to facilitate students' ability to interpret the results of statistical and econometric 

analyses in the empirical finance and accounting literature. 



A Knowledge and Understanding of: 

• statistical properties of financial returns 

• random walk and empirical tests of the Efficient Market Hypothesis 

• tests of asset pricing models 

• recent developments in empirical finance 

• multivariate regression and qualitative methods in accounting research 

• econometric and statistical techniques applied in the finance and accounting literature 


• critically evaluate the statistical and econometric techniques used in empirical finance and 

accounting 

• interpret empirical results and draw inferences based on this information 

• synthesise and evaluate primary and secondary data 

• develop problem solving skills, including the ability to manipulate financial data 

• sustain a logical structure and critical argument in writing 

• exercise powers of inquiry, logic, and critical analysis and interpretation and evaluation of 

argument and evidence 


• identify the aims, importance, contribution and limitations of empirical finance and accounting 

academic papers 

• evaluate the important academic papers in the empirical finance and accounting literature 

with particular emphasis on the interpretation, meaning and importance of the empirical 

results 

• show a knowledge and understanding of econometric and statistical techniques applied in the 

finance and accounting literature 

• describe the application of time series and cross sectional data in academic research with the 

use of appropriate examples 

• explain appropriate techniques to test the distributional properties of financial returns 

• demonstrate the application and interpretation of regression techniques in finance and 

accounting 

• test and interpret the time series properties of financial and accounting data 

• show a knowledge, understanding and interpretation of non-linear and other regression 

techniques used in finance and accounting 


• communicate ideas, concepts, principles and theories effectively through oral and written 

means 

• develop reference skills and conduct independent research using both traditional library 

based resources and internet based resources 

• exercise initiative, self-motivation and time management skills and work independently 

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Teaching will consist of approximately 18 hours of lectures and 5 hours of classes. The lectures will 

outline a selection of econometric and statistical techniques and illustrate the use of these techniques 

through exemplary research from the finance and accounting literature. Discussion will focus on 

interpretation of findings from the application of these techniques as well as evaluation of their 

usefulness to finance and accounting. 


ASSESSMENT: 

Formal - one 2 hour examination at the end of the Autumn semester (100%). 

The examination is designed to allow students to demonstrate that they have achieved the learning 

outcomes established for this module as well as to test their skill development. The examination will 

comprise a number of essay questions which require students to demonstrate their ability to interpret 

the results of econometric and statistical material as presented in finance and accounting academic 

papers. Students are required to demonstrate that they have acquired intellectual, communication, 

evaluative and subject-specific skills from taking this module. 

Informal assessment takes place through tutorial sessions where students are required to prepare 

solutions to tutorial questions. The assessment involves students demonstrating that they have 

attempted all questions either by presenting the material to the class or through the medium of class 

debate and discussion. Tutorial questions focus principally on interpretation of statistical and 

econometric material as presented in finance papers. All questions require students to demonstrate 

theoretical and critical competence as well as the ability to apply knowledge to discussions and 

illustrations from the literature. Students are encouraged throughout the module to submit queries. 


Illustrations and interpretation of the following econometric and statistical analyses applied in the 

finance and accounting literature: Normality tests; event study methodology; run tests; correlation; 

autocorrelation; univariate regression analysis; multivariate regression analysis; regression with 

dummy variables; non-linear regression analysis; factor analysis; time series analysis. 


Introductory Econometrics for Finance, C. Brooks, Cambridge University Press, 2002. 

Analysis of Economic Data, G. Koop, Wiley, 2004. 

Essentials of Econometrics, D. Gujarati, McGraw Hill, 2005. 

An Introduction to Econometrics, G. S. Maddala, Wiley, 2001. 

The Econometrics of Financial Markets, J.Y. Campbell, A.W. Lo and A.C. McKinley, 

Princeton University Press, 1997. 

Modern Portfolio Theory and Investment Analysis, E. J. Elton, M. J. Gruber, S. J. Brown, and W. N. 

Goetzman, John Wiley & Sons, 2003. 

Reference will also be made to relevant articles from journals such as: Journal of Finance, Journal of 

Financial Economics, Journal of Financial and Quantitative Analysis, Financial Analysts Journal, Journal 

of Accounting and Economics and Journal of Accounting Research. 

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ENTREPRENEURSHIP AND SMALL BUSINESS 

DEVELOPMENT 




PROGRAMMES: BSc Business Management, Business Management (Human 


BSc Business Management (Logistics & Operations), BSc Business 


European Language, BSc Econ Business Economics, BSc Econ 

Economics and Management Studies. 


The module is designed to introduce students to the process and challenges of successful 

entrepreneurship. In the first semester the module introduces theory and practice in small business 

management as well as the growing field of entrepreneurship. In the second semester the students 

will be introduced to the practical challenges of starting a new business venture and will be required 

to develop a new start-up idea that includes delivering a detailed report and formal presentation. 




• Display knowledge and understanding of theories of entrepreneurship and small business 

development developed in economics and other social science fields 

• Display knowledge and understanding of the primary functions of small business activity 


• Display a capacity to critically assess and apply theories of small business to empirical cases 

• Display research, analytical and deliberative skills appropriate to a critical understanding of 

the academic field of small business development 


• Display and apply in business simulation and other exercises the management and other 

relevant skills that are required in analysing small business activity and supporting small 

business decision-making. 


• Display the ability to present business data and theoretical argument in a group format and in 

reports and other forms of extended prose. 

• Display research and analytical skills appropriate to managing in a small business context. 


Teaching is conducted over two semesters. In the first semester, material is delivered through 16 

hours of lectures and 8 hours of tutorials. Theoretical concepts are introduced in the lectures and 

empirical evidence relating to small businesses and entrepreneurship is discussed. Tutorial classes 

provide students with the opportunity of asking questions and discussing theoretical and practical 

issues relating to the lecture material. In the second semester, the delivery of course material moves 

toward a focus on group activities. While the contact time is approximately the same, as in the first 

semester, students will be required to work in their business groups to develop their start-up ideas 

and presentation skills. The group work involves students working in groups of five or more, 

presenting their ideas to their peer group and assessing the practical implications and relevance of 

these ideas in the context of the small business environment. Students are required to submit a 

written plan and present their business ideas in a formal setting. 


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ASSESSMENT: 


One 2 hour examination at the end of the Autumn semester 


A small group exercise involving a business start-up simulation, 

including an oral and written presentation of a business plan (3000 

words) to be submitted in week 9 of the Spring Semester 

Assessment comprises two elements: a two hour examination and a group assignment. The 

assignment focuses on a business start-up and requires students to work through a business 

simulation exercise. The focus is on developing applied business skills and team working and groups 

of students present their business plan in a formal examination setting and in written form. The 

examination at the end of the Autumn Semester provides an assessment of the material taught in 

Semester One. 


A social science perspective of entrepreneurship; understanding entrepreneurial success; financing 

small business; financial management of small business; marketing in the small firm; the role of 

government and the regulation of small business development. 


S. Carter and D. Jones-Evans (2000) Enterprise and Small Business: Principles, Practice and Policy, 

Financial Times/Prentice Hall 

M. Coulter (2001) Entrepreneurship in Action, Prentice Hall 

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ETHICS AND MORALITY OF BUSINESS 




PROGRAMMES: BSc Econ Accounting & Management, BSc Econ Banking and Finance, 

BSc Business Management, BSc Business Management (Human 


BSc Business Management (Logistics and Operations), BSc Business 


European Language, BSc Econ Business Economics, BSc Business 

Studies with Japanese, BSc Econ Economics & Management Studies, 

BSc Business Management and Finance. 


The module will examine ethical issues and dilemmas in business covering such key, controversial 

subjects as child labour, and ethical consumption. The main concepts and moral philosophical 

theories that have been used to understand and explain business ethics will be introduced. In this 

way it is intended that students will be able to gain an understanding of why ethical problems arise, 

what their significance might be, and how they might be attended to. Ultimately, the aim of the 

module is to enable students to reflect upon ethical questions with a view to enhancing their 

analytical and decision-making skills. 



Question the role of business in society, and explain how and why this role might change or be 

managed. 

Evaluate the responsibilities of, and relationships between, companies and their external and internal 

stakeholders. 

Conduct critical evaluation of the ethical rights and wrongs of a variety of business issues drawing on 

relevant moral philosophical theories. 


• Identify and critically analyse common ethical issues arising in business. 

• Develop a basic understanding of the moral philosophical theories which may be relevant to 

such critical analysis. 

• Diagnose ethical problems and suggest how they might be resolved or dealt with. 


• Demonstrate the ability to analyse and debate ethical problems in business, and to develop, 

present and defend potential solutions. 


• Skills of critical evaluation, the research process and the application of academic theory to 

professional practice 


• Develop the ability to think critically and originally 

• An awareness of moral philosophy in business situations 


A mixture of lectures, case studies, exercises, guest speakers, audio-visual materials and interactive 

podcasts. A strong emphasis is to be placed on student participation in class. There will be 

approximately 44 hours of classes, which will consist of a combination of formal lectures and tutorial 

sessions. 


ASSESSMENT: 

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One individual assignment of 2500 words to be submitted in week 12 

of the Autumn Semester. 

The exam will consist of two sections – A and B. The questions in section A are based on topics 

covered in the first semester that were not used for the assignment questions. Section B will include 

questions based on all the topics covered in the second semester. Students taking the exam will be 

required to complete ONE essay question from Section A and TWO essay questions from Section B. 

They will have three hours to complete these essays. 


The module is structured around four themes. (1) Business Ethics in Philosophical Context: The first 

part of the module looks at business ethics in context, introducing key philosophical ideas and 

concepts. (2) Corporate Social Responsibility and Ethics: The second part of the module explores the 

rise of the corporation and how this reshaped the ethical and social priorities of corporations. 

Consideration is given to CSR or corporate social responsibility. (3) Deviant Ethics of Globalisation: 

This section will cover emerging issues faced by global businesses today, such as child labour, mobile 

capital, glocalisation and the anti-capitalist movement. (4) Contemporary Issues in Business Ethics: 

this section will focus on areas such as ethical investment, ethical consumerism, the fair trade 

phenomenon, shareholder activism, and the unethical behaviour of corporations. 


Crane A. and Matten, D. (2004), Business Ethics (Oxford University Press) 

Fisher, C. and Lovell, A. (2006), Business Ethics and Values (Prentice Hall) 

Boatright, J. R. (2006), Ethics and the Conduct of Business, 5 th ed. (Prentice Hall) 

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EXPLORATORY DATA ANALYSIS 








European Language, BSc Accounting & Finance 


Exploratory Data Analysis (EDA) is a framework for analyzing data to seek hypotheses worthy of 

testing. It complements the tools of conventional statistics for testing hypotheses. 

The existence of vast quantities of data of all types, and our capacity to create even more, pose a 

severe challenge to managers, accountants and statisticians alike. Hence there is a need for data 

reduction or data mining methods which will cope with high dimensional data, large numbers of cases 

and/or a variety of data types. Data now occurs in many forms – text, images (static and moving), 

sound, numbers, etc. and conventional methods may not cope very well with these more unusual 

forms of data. This module is designed to give students experience in both new and established 

techniques for EDA. 




• Understand the scope and challenges of the modern data environment and newer methods of 

data exploration, acquisition and creation. 

• Develop an understanding of a range of analysis tools for data which may have qualitative or 

quantitative variables or a mixture of both. 


• Discuss the need for new techniques to cope with data sets which are extensive in terms of 

number of cases and/or variables. 

• Use these analysis tools to develop and test hypotheses about the data and the data 

generating process 

• Critically evaluate the suitability of a given technique to a particular analytical situation 

C Discipline Specific (including practical) Skills: 

• Use a variety of software tools and appreciate the criteria for their use in a varied selection of 

data analysis situations 


• Acquire the ability to use a variety of standard software packages 

• Practise analytical problem solving skills through data analysis 

• Develop reporting skills through maintaining an electronic journal 


The teaching will be based around a series of guided workshop and tutorial activities interspersed 

with inputs in the form of lectures on core topics. The pattern will be set around 11 lectures and 5 

fortnightly workshops interleaved with 5 software tutorial sessions based around, for example, casestudies 

including the use of software such as Minitab and Excel together with Open Source software 

packages such as R, GGobi, Gauguin and Mondrian. Each student will keep a data analysis journal 

completed in the IT lab sessions, some of which will be submitted in electronic form as part of their 

module assessment. 

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An invited lecturer will also provide some input on industrial practice in this area. 

Indicative study hours - 80 

ASSESSMENT: 


One 2 hour examination in the Autumn Semester. 


One Data Analysis Assignment 

There will be an examination which will include examples of software output of the type used by 

students in the tutorial sessions. 

The production of a dataset analysis journal by individual students will concentrate on the material 

and datasets that they cover in the computer laboratory sessions. This will evidence their progress 

and include analysis of data unique to the individual student. 


Theoretical Content 

1. Introduction – types of data and the information content of data – levels of measurement 

The concept of Knowledge Discovery – Data Mining and Exploratory Data Analysis (EDA) 

2. The concept of perspective – viewpoint, foreground/background and data and dimensional 

reduction 

The histogram and allied plots as prototypical data analysis tools for univariate data 

3. Extensions to 2 and 3 dimensions 

Simple visualization tools – scatter plots, matrix scatter plots, brushing, and 3-D scatter plot 

Coping with nominal, ordinal and mixed data 

4. High dimensional data 

Plotting methods for ‘high-D’ data 

Outliers, clusters, nonlinearity and distance measures 

Perspective and data reduction revisited - Projection methods 

5. Cluster analysis 

6. Analysis of textual and nominal data. Mosaic plots 

7. Regression and time series methods – examination of residuals for model refinement 

8. Acquiring and verifying large data sets and the missing data problem 

9. Commonly-used multivariate methods - including Multidimensional Scaling (MDS) - from a 

software user’s perspective and including a discussion of the scope and pitfalls of such methods 

10. Validating models 

Practical and Software Content 

1. Input and creation of data through such media as the WWW, Data Reformatting, Table and Data 

handling aspects of spreadsheet, word processor and database programs 

2. Univariate and Bivariate analyses using simple charting techniques on a standard dataset and 

testing the results 

3. Examining data through data visualization methods implemented in Ggobi – exploring a variety of 

plotting methods including matrix scatter plots, parallel coordinate plots and the use of brushing 

to link plots and highlight clusters and outliers 

4. Using cluster analysis techniques on a standard dataset with statistical validation (using external 

variables, etc.) 

5. Analysis of textual and qualitative data using such software as Mondrian and R 

6. Use of a variety of multivariate software tools such as Minitab and Excel and Open Source 

software applications and environments such as R, GGobi, Gaugion and Mondrian 

7. Exposition of some standard data sets. 

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Selected Sections from: 

John W. Tukey, (1977) ‘Exploratory Data Analysis’ Addison-Wesley 

Brian S. Everitt, Sabine Landau, and Morven Leese (2001) ‘Cluster Analysis’, Hodder Arnold 

Usama M. Fayyad, Georges G. Grinstein and Andreas Wierse, (2001) ‘Information Visualization in 

Data Mining and Knowledge Discovery’, Morgan Kaufmann 

William G. Jacoby (1998) ‘Statistical Graphics for Visualizing Multivariate Data’, Sage Publications 

Unwin, A., Theus, M. and Hoffman, H. (2006) ‘The Graphics of Large Data Sets: Visualizing a Million’, 

Springer-Verlag, NY ( http://stats.math.uni-augsburg.de/GOLD/ ) 

http://www.ggobi.org/ A powerful Open Source software tool for Data Visualization 

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FINANCE INVESTIGATION 




PROGRAMMES: BSc Accounting and Finance 


This module aims to enable students to integrate the areas of IT and finance in individual 

assignments based on independent learning. 




• demonstrate an in-depth understanding of their chosen area of research 

• demonstrate an understanding of the theoretical and practical aspects of the finance research 

process 

• demonstrate an understanding of the alternative methodological approaches to finance 

research and show an awareness of the limitations of various finance research methods 


• identify, evaluate and draw upon relevant finance theory and research for the topic of 

investigation chosen 

• test hypotheses and/or solve problems, including the ability to collect, manipulate and 

interpret financial and other numerical data 

• exercise powers of inquiry, logic, and critical analysis in the interpretation and evaluation of 

arguments and evidence 



• the capacity to identify a finance research topic and search for relevant information to 

investigate this topic 

• apply theoretical and/or empirical analysis to the topic chosen 

• select and apply appropriate software to investigate a finance topic 


• undertake independent research 

• communicate ideas, principles and theories effectively by oral and written means 



• exercise numeracy, problem solving and IT skills 

• access and utilise information in a variety of research resources, both traditional (e.g. library) 

and IT (e.g. the Internet and electronic journals). 


The module comprises 4 hours of lectures and approximately 15 hours of student/supervisor contact. 

The remainder of the time is taken up by students working independently, which constitutes the core 

method of learning. The lectures are conducted at the beginning of the semester, and introduce 

students to the structure of the module. The lectures therefore include a discussion of finance 

research methods available, and also provide examples of suitable finance topics. The lectures are 

supported by handouts and published articles as exemplars of empirical and theoretical analysis. 

Following the lectures, students are required to select a topic, in consultation with the module coordinator. 

After the topic is selected, students work independently to research the topic. During this 

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period, the module co-ordinator is available at designated periods each week for support and advice 

on the accounting investigation. Furthermore, students are encouraged to utilise IT to correspond 

with the module co-ordinator to make enquiries relating to their investigation. Correspondence 

between students and supervisor is thus ongoing throughout the investigation to ensure that any 

problems in the investigation are resolved promptly and effectively. 


ASSESSMENT: 



Semester 


Semester 

Formal assessment of this module is of a continuous nature, and comprises two elements. The first is 

a 500 word report which outlines the aims and objectives of the investigation, describes the methods 

to be employed in the investigation, and outlines any data to be collected. This preliminary report 

represents 25% of the total assessment and is designed to ensure that students devote the necessary 

attention to the selection of a suitable topic for investigation. This also allows students to identify 

and evaluate relevant prior research on the topic they have chosen, and to give due consideration to 

the application of suitable technology to the topic. 

The second and more substantive component of the formal assessment is the preparation of a 4500 

word report which describes the investigation and discusses the findings of the investigation in light 

of prior research. In conducting the investigation and preparing the report, students must 

demonstrate proficiency with suitable IT software. This may be demonstrated through the 

application of IT to collect and/or analyse empirical data, or through a theoretical and/or analytical 

modelling of a finance topic. Students must also demonstrate an understanding of the finance issue 

under investigation. 


Students are required to investigate and prepare a report on a topic which has been selected in 

conjunction with the module co-ordinator. The topic must involve the application of IT to investigate 

a finance issue. The module co-ordinator provides study guidance according to the topic chosen. 


Brealey, R. and Myers, S. (2003) Principles of Corporate Finance, 7 th ed. New York: McGraw-Hill. 

Coakes, S., (2005) SPSS: Analysis Without Anguish: Using SPSS V12, Wiley 

Hussey, R. and Hussey, J. (1997) Business Research Macmillan. 

Megginson, W., (1997) Corporate Finance Theory, Addison Wesley 

Pallant, J. (2007) SPSS Survival Manual: Step-by-Step Guide to Data Analysis Using SPSS for 

Windows, Maidenhead: Open University Press. 

Ryan, B., Scapens, R. and Theobald, M. (2002) Research Method and Methodology in Finance and 

Accounting, Third Edition, Academic Press 

Saunders, M., Lewis, P. and Thornhill, A. (2003) Research Methods for Business Students, FT 

Prentice Hall, 3 rd edition 

Silver, M., (1997) Business Statistics, 2 nd edition, McGraw-Hill 

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FINANCIAL ACCOUNTING 




PROGRAMMES: BSc Accounting, BSc Econ Accounting & Management, BSc Econ 

Accounting & Economics, BSc Accounting with a European Language, 

BSc Accounting & Finance 


The aim of this module is to present a critical review of major developments in the theory and 

practice of financial accounting. 




• identify holding companies, associated companies, joint ventures, subsidiary companies and 

simple investments; 

• display knowledge of different theoretical and practical conventions for the preparation of 

financial statements and the effect on income measurement of the application of each 

convention 

• demonstrate familiarity with the system for setting accounting standards and understand how 

the process influences the regulatory outcomes. 

• comprehend the fundamentals of professional ethics 

• be aware of current issues in financial reporting 


• identify and search for relevant information 

• systematically obtain, verify and retrieve information from a variety of sources 

• analyse and draw reasoned conclusion from a set of data 


• gather and construct financial information and build a narrative around it; 

• account for holding companies, associated companies, joint ventures, subsidiary companies 

and simple investments, including the preparation of group accounts; 

• describe and implement the consequences of corporate evolution as reflected in accounting 

statements: formation; reconstruction and liquidation; 

• examine and critically evaluate current topics in financial accounting and reporting; 

• prepare accounts that comply with their requirements of selected accounting standards, 

analyse alternative accounting policies and critically examine the standard setters’ preferred 

treatments; 

• identify, compare and contrast the application of various capital maintenance concepts to 

financial reporting; 

• demonstrate a theoretical and practical understanding of: uniform system of cash flow 

reporting; accounting for price level changes; foreign currency transactions and translation. 


• communicate ideas, principles and theories effectively by written examination 

• exercise initiative, self-reliance and time management skills and work independently 


• exercise numeracy, problem-solving and IT skills 

• access and utilise information in a variety of research resources both traditional and IT 



classes. However, as students need to assimilate an advanced knowledge of financial accounting and 

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possess proficiency in the application of this knowledge to a range of questions, an effective teaching 

strategy and learning support structure is imperative. Detailed handouts and a structured reading list 

are given to students in order to encourage the completion of class questions, which build upon the 

material covered in lectures. Student support is given through class feedback, revision sessions and 

e-mail student–lecturer contact. 


ASSESSMENT: 




One assignment of 2000 words or the equivalent to be submitted in 

week 11 of the Autumn Semester 

The purpose of the coursework is to test understanding of key advanced financial accounting 

concepts and practices. The assignment must be word-processed so therefore tests CIT skills. 

The examination contains a range of questions designed to cover the learning outcomes for the 

module and to test skill development. It aims to test knowledge and comprehension of topics in the 

syllabus as well as testing students’ ability to apply such knowledge in particular contexts. Questions 

require written answers and test students’ development of intellectual, communication, numeric and 

reasoning skills, as well as subject-specific knowledge. 

Informal assessment is provided through class questions which stimulate independent learning, 

develop students’ analytical skills and provide an ongoing mechanism for assessing the extent to 

which students are meeting the module’s learning outcomes. Student problems are dealt with by the 

lecturer/tutor in classes or on a one-to one basis and all students are encouraged to submit queries 

either in the class or afterwards. 


A critical examination of the following aspects of accounting theory and practice: cost or value; the 

conceptual framework for accounting; creative accounting; the substance over form debate; 

retirement benefits; foreign currency transactions and translations; uniform system of cash flow 

reporting. Accounting for company evolution and failure. Accounting for groups of companies; 

definitions; identification; valuation; goodwill; accounting for associates. Aspects of professional 

ethics; current issues in financial reporting. 


Alfredson, K. et al (2009) Applying International Reporting Standards, Milton: Wylie. 

Clendon, T. (2009) A Student’s Guide to Group Accounts, Wokingham: Kaplan. 

Edwards, J. R. (2008) Financial Accounting. ICSA Professional Development Series, 6 th edition, 

London: Institute of Chartered Secretaries and Administrators. 

Elliott, B. and Elliott, J. (2010) Financial Accounting and Reporting, 14 th edition, Pearson Education 

Ltd. 

Ernst & Young (2006), International GAAP 2007. Generally Accepted Accounting Practice under 

International Financial Reporting Standards, London: LexisNexis. 

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FINANCIAL DERIVATIVES 




PROGRAMMES: BSc Accounting & Finance, BSc Econ Economics & Finance and 

Business Management & Finance. 


The Financial Derivatives module is designed to provide students with an understanding of financial 

derivatives, their valuation and applications, and of the markets on which they are traded. 




• show a systematic knowledge of the concepts underlying the analysis of derivative securities. 

• show a systematic knowledge of a range of different types of derivative security including 

forwards and futures contracts, options and swaps and of the operations of the markets on 

which they are traded. 

• show a systematic knowledge of, and critically evaluate, pricing models for a range of 

derivative securities including forwards and futures contracts, options and swaps. 

• show a systematic knowledge of, and critically evaluate, a range of investment strategies 

using derivatives including arbitrage, hedging and speculation. 









• measure and evaluate the returns on, and risks of, different types of derivative security 

including forwards and futures contracts, options and swaps. 

• price a range of derivative securities including forwards and futures contracts, options and 

swaps, using a range of appropriate pricing models. 

• apply examples of investment strategies using derivative securities including arbitrage, 

speculation and hedging strategies. 









The formal timetabled component of the module comprises approximately sixteen lectures and six 








Students are supported throughout the module through consultation with the module coordinator. 

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ASSESSMENT: 


One 2 hour examination at the end of the autumn semester 



outcomes. 






Introduction: the nature of financial derivatives; types of financial derivative; applications of 

derivatives; basic concepts – market efficiency, arbitrage and fair price. Forwards & Futures: 

distinction between forwards and futures; futures markets; types of future; pricing futures and 

forwards; applications of futures and forwards – speculation and hedging. Options: options markets; 

types of option; option payoffs and strategies; option valuation; option sensitivities and hedging; 

applications of options – speculation and hedging. Swaps: swaps markets; types of swap; motives 

for swaps; pricing swaps; applications of swaps. Other financial derivatives. 


Cuthbertson & Nitzsche, Financial Engineering: Derivatives and Risk Management, Wiley, 2001 

Hull, Fundamentals of Futures and Options Markets, 7 th Edition, Pearson Prentice Hall, 2011 

Hull, Options, Futures & Other Derivatives, 7 th Edition, Prentice Hall International, 2008 

Kolb, Futures, Options & Swaps, 5 th Edition, Blackwell 2007 

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FINANCIAL ECONOMICS 




PROGRAMMES: BSc Econ Accounting & Economics, BSc Econ Banking & Finance, BSc 

Econ Economics, BSc Econ Economics and Finance, BSc Econ 

Economics and Management Studies, BSc Econ Economics with a 

European Language, BSc Econ Economics and Politics, BA Economics 

with a Humanities Subject, BSc Econ Banking & Finance with a 

European Language. 


The role of this module is to apply concepts and techniques learnt in the year 2 Microeconomics 

Analysis and Money Banking & Finance modules to real world issues affecting financial markets. It 

provides students with an introduction to financial economics and complements the work they do in 

the year 3 International Finance module. 

The aim of the Financial Economics module is to provide students with a broad background to 

financial economics with the emphasis on financial asset valuation and risk management. 




• Understand and learn the microfoundations of and the dynamic general equilibrium approach 

to financial economics, and in particular, learn the fundamental techniques used in 

intertemporal financial decision making under uncertainty. 

• Understand and implement the concept of risk and risk management, therefore explain how 

mean, standard deviation, correlation and distributions play an important role in risk 

management. 

• value and understand the characteristics of financial assets such as bonds, equities, 

perpetuities, discuss the assumptions made for each category of assets, discuss the strength 

and weakness of the valuation approaches. 

• understand utility theory, understand the differences between risk averse, risk neutral and 

risk loving investors, define and calculate measures of risk 

• understand the different notions of market efficiency, discuss the conflicting empirical 

evidence available, express their own views and link the notions of market efficiency with the 

theorems in finance. 

• Understand and learn the applications of three key models of financial economics, namely, 

the mean variance model, the capital asset pricing model, and the arbitrage pricing model. 

• understand the fundamental nature of derivatives, how they are traded in the market, explain 

their dramatic growth, develop simple trading strategies, discuss, explain and apply the putcall 

parity theorem. 

• be familiar with derivative valuation techniques such as the Black-Scholes equation and the 

binomial tree approach, value common stock options using the Black-Scholes equation, value 

American type options using the lattice. 

• be aware of recent derivative disasters, appreciate lessons learnt from such events, 

understand the notion behind VaR, apply VaR to simple cases. 


• be able to apply mathematical and financial analysis to finance and risk management. 

• be able to evaluate main financial and risk management issues facing modern firms. 


• be familiar and competent to research statistical, textual, and internet sources relating to 

modern financial institutions. 

• be able to analyse the economic basis of financial strategy as it relates to areas such as 

asset valuation, risk management, financial market strategy. 

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• be read extensively, and be able to collect, organise and analyse data. 

• be familiar with key IT resources for research purposes and to inform classes and assignment 

work. 

• be confident in developing individual ideas, setting personal course goals and schedules. 


The formal timetabled component of the module is approximately 36 hours of lectures and 8 hours of 

classes. The lecture programme is supported by detailed handouts, problem sets and structured 

reading (recommended reading is detailed in the handout provided at the beginning of the lecture 

programme). Class questions attempt to force students to challenge, interpret and understanding the 

subjects covered. Students are supported throughout the module through the provision of regular 

surgeries (approximately 15-20 hours per year), held approximately every week, student lecturer 

private consultation sessions, revision sessions and email student-lecturer contact. 


ASSESSMENT: 




One 2 hour examination at the end of Autumn Semester. 

The exam at the end of the Spring semester contains two sections, with 5 questions in each section. 

First section contains mainly materials from the Autumn semester and the second section contains 

materials from the Spring semester. Students have to attempt 6 questions, at least two from each 

section. All questions carry the same number of marks. 

The exam at the end of the Autumn semester contains 6 questions. Students have to attempt 4 

questions. Students are provided with a wide range of class questions, which are designed to 

stimulate independent learning and to provide an ongoing mechanism for assessing the extent to 

which students are meeting the module’s learning outcomes. Students are encouraged throughout 

the module to submit queries to the module co-ordinator for discussion. 


Present value calculations; time value of money; annuities; internal rate of return; valuation of bonds; 

statistics review; general equilibrium approach, intertemporal financial decisions; arbitrage; statepreference 

approach; contingent claims & arrow securities; risk; optimal portfolio problem; equity 

premium puzzle; mean variance approach; capital asset pricing model; arbitrage pricing model. 


R.E. Bailey (2005), The Economics of Financial Markets, Cambridge University Press. 

Yvan Lengwiler (2004), Microfoundations of Financial Economics, Princeton University Press. 

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INDUSTRIAL ECONOMICS 




PROGRAMMES: BSc. Econ Accounting & Economics, BSc. Econ Banking & Finance, BSc. 

Econ Business Economics, BSc. Econ Economics, BSc. Econ Economics & 

Management Studies, BSc. Econ Economics with Politics, BA Economics 

with Humanities. 


Provide students with an up-to-date understanding of industrial economics, including the areas of industrial 

organisation and regulation, at a third year undergraduate level. 

Make students aware of the relevant theory in these areas. 

Make students aware of empirical work that has been undertaken in some areas relating to the operation 

and performance of UK markets. 

Make students aware of key policy issues and the way in which economic analysis can be used to approach 

these issues. 

Provide students with subject specific and core skills which will be of use in further education and their 

future careers. 




• understand modern issues in the theory of industrial organisation 

• understand recent UK Competition Policy and natural monopoly regulation 

• understand the role of empirical research in testing economic theory and in assessing economic policy 


• recognise the importance of economic theory to the analysis of the industrial economy and be able 

to apply theory to applied economic problems. 

• appreciate the main causes of market failure and distortion in the context of industry, and be able to 

indicate their welfare consequences 

• analyse economic policy in this area and identify the merits of individual policy measures 


• employ deductive reasoning to analyse economic problems 

• analyse data and interpret statistical information 

• understand and evaluate the role of incentives and strategic thinking in determining firm and 

government behaviour and therefore market outcomes and policy 


• work individually and independently on lecture and tutorial material 

• develop reading skills in specific subject areas 


Teaching takes place in the Autumn and Spring semesters. There are approximately 36 hours of lectures 

and 8 hours of classes. 

The purpose of lectures is to set out the main points of each topic covered and indicate a structure for 

learning. They identify the key features of the topics covered and focus particularly on material new to 

students, and on the technically more difficult elements. They aim to improve student learning by identifying 

the principal theoretical and empirical aspects on each topic, and by providing guidance on reading. Lecture 

handouts provide the students with mathematical material, statistical data and diagrams. 

Classes provide students with an opportunity to discuss module material. Theoretical ideas introduced in the 

lecture are identified and therefore consolidated with the help of numerical and essay style problems. 

Statistical data, diagrams and quantitative material may also be reviewed. The reading material and 

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associated tasks introduce empirical material and policy debates. 

Students are provided with text references and handouts but are required to supplement these by consulting 

articles available in the library. 


ASSESSMENT: 

Examination Component : 70% 



One 2 hour examination at the end of the Autumns semester 

The summer examination is divided into three sections: Section A covers the first half (first semester) of the 

module and Sections B and C the second. The questions take a variety of forms enabling the student to 

demonstrate their knowledge and skills across theoretical, quantitative, diagrammatic, empirical and policy 

material. 


Monopoly: non-linear pricing and price discrimination, product quality; Oligopoly pricing: static and dynamic 

models of oligopoly, product differentiation, measuring market power; Strategic behavior: entry deterrence, 

advertising, research and development; Issues in antitrust economics: exclusionary strategies, vertical 

integration and vertical restraints, horizontal mergers; Issues in regulatory economics: optimal pricing for 

natural monopoly. 


L. Cabral, Introduction to Industrial Organization, MIT Press, 2000. 

D. Carlton and J. Perloff, Modern Industrial Organization, Pearson Addison Wesley, 2005. 

J. Church and R. Ware, Industrial Organization: A Strategic Approach, McGraw-Hill, 2000. 

M. Motta, Competition Policy: Theory and Practise, Cambridge University Press, 2004. 

L. Pepall, D. Richards, and G. Norman, Industrial Organization: Contemporary Theory and Empirical 

Applications, 4th ed., Blackwell Publishing, 2008. 

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INTERNATIONAL ACCOUNTING 







The aim of the module is to expose students to a variety of international issues so that they will be 

able to evaluate and assess UK financial reporting in a wider context. 




• show a knowledge and understanding of the divergent forces which cause international 

differences; 

• be aware of different accounting practices in different countries; 

• understand the problems faced by multinational corporations; 

• understand the issues relating to regional and international harmonisation. 


• synthesise and evaluate secondary data 





• critically evaluate the divergent forces which cause international differences; 

• compare and contrast different accounting practices in different countries; 

• develop a critical understanding of selected problems faced by multinational corporations; 

• critically evaluate progress towards regional and international harmonisation. 


• communicate ideas, principles and theories effectively by written means 







tutorials. However, as students need to attain a broad knowledge of international accounting issues, 

an effective teaching strategy and learning support structure is imperative. Detailed handouts and a 

structured reading list are given to students in order to encourage the completion of tutorial 

questions, which build upon the material covered in lectures. Student support is given through the 

formal contact of 5 hours tutorials, informally through private consultation with the lecturer and also 

through e-mail student – lecturer contact. 


ASSESSMENT: 


One two hour examination at the end of the Autumn semester. 

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The examination will test student’s knowledge, understanding and analytical skills. In particular, this 

third year course will aim to test the student’s ability to put forward reasoned, analytically evidencebased 

arguments. 


Accounting and its international environment; financial reporting worldwide focusing in particular on 

selected countries of the developed and developing world; selected international issues; regional 

harmonisation; international standardisation; financial reporting by multinationals; classification of 

accounting systems. 


Core Books – latest editions 

C.W. Nobes and R.H. Parker, Comparative International Accounting, Prentice Hall International. 

Roberts, C., Weetman, P. and Gordon, P., International Financial Accounting, Financial Times/Pitman. 

Choi, F. D. & Meek, G., International Accounting, Prentice Hall. 

www.JASPlus.com 

KEY OVERVIEW ARTICLES 

Alexander, D. and Archer, S. (2000), On the myth of “Anglo-Saxon” financial accounting, The 

International Journal of Accounting, 35(4): 539-557. 

Haller, A and Linz, J. (2002) “Financial accounting developments in the European Union: past events 

and future prospects”, European Accounting Review, Vol. 11, No. 1. 

Nobes, C. W. (1998), “Towards a General Model of the Reasons for International Differences in 

Financial Reporting”, Abacus, Vol. 34, No. 2, pp. 162-187. 

Schipper, K. (2005), “The introduction of international accounting standards in Europe: implications 

for international convergence”, European Accounting Review, Vol. 14, No. 1. 

Whittington, G. (2005), “The adoption of international accounting standards in the European Union”, 

The European Accounting Review, Vol. 14, No. 1. 

Zeff, S. (2003), “How the US accounting profession got where it is today”, Accounting Horizons, Vol. 

17, No.3. 

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INTERNATIONAL BUSINESS LOGISTICS 




PROGRAMMES: BSc Business Management (International Management), BSc Business 

Management (Logistics & Operations), BSc Business Management, BSc 

Business Management (Marketing). 


The aim of this module is to familiarise students with the different components of an international 

distribution channel and enable them to understand how it is structured. Emphasis will be on the 

relationships between business management and logistics process. The module, in particular, will 

encourage an awareness of the significance of customer service in logistics and an appreciation of 

logistics as a strategic management tool as well as developing analytical skills in logistics in areas such 

as trade-offs or service optimisation. 




• Define and explain international supply chain management. Identify business opportunities 

linked to the international movement of goods. 


• Demonstrate an appreciation of logistics as a strategic management tool. Analyse the trade-offs 

inherent in efficient supply chain management. Demonstrate analytical and written 

communication skills in the form of logical structured argument for presentation in assessed 

Coursework and in response to examination questions. 


• Evaluate the methods used in international logistics to effect trade-offs and consider the 

implications of such trade-offs. 


• Develop analytical, communication and learning skills through workshops and seminars. 

• Develop critical ability in the interpretation of empirical evidence. 


The module comprises 44 hours of lectures and seminars spread over two semesters and shared 

between two members of staff. Each timetable slot will be for two hours allowing for development of 

material and presentations in seminar groups. Occasional guest lectures from industry will be invited to 

contribute to the programme. 

ASSESSMENT: 




Two individual assessed essays of 2000 words (both 20%) to be 

submitted in week 3 and 8 of the Spring semester. 

Assessment consists of two primary elements: an examination of 3 hours (60%) in Semester 2 and two 

pieces of coursework (20% each), both of 2000 words. There is one piece of coursework in each 

semester. 

The examination and assignments contain a range of questions designed to cover the learning outcomes 

of the module. They are designed to test the student’s critical knowledge and comprehension of the 

material taught. Answers require the application of theories or models when appropriate. Questions 

are designed to assess critical analytical ability and provide a means to “stretch” good students. 

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Supply chain management; international channels of distribution; benchmarking; demand forecasting; 

customer service and bench marking; cargo flows; transport operations; inbound and outbound; 

international logistics, cargo routeing and modal choice; volatile and fragile supply chains; risk 

management; flexibility; power in supply chains 


A. Rushton, P. Croucher & P Baker (2006), Handbook of Logistics & Distribution Management. Third 

Edition, Kogan Page. 

A. Harrison & R. Van Hoek (2008), Logistics Management and Strategy, Financial Times, Third Edition, 

Prentice Hall. 

M. Christopher (2005), Logistics and Supply Chain Management, Financial Times, Prentice Hall. 

D. Waters (ed) (2007), Global Logistics, Kogan Page. 

S. New & R. Westbrook (2004) Understanding Supply Chains, Oxford University Press. 

Students are also expected to use relevant journals: 

International Journal of Physical Distribution and Logistics Management 

Transportation Research Part E: Logistics and Transportation Review 

Journal of Business Logistics 

International Journal of Logistics: Research and Applications 

Supply Chain Management: An International Journal 

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INTERNATIONAL BUSINESS AND MARKETING 

Module Code: BS3730 

Number of Credits: 20 

Semester: Autumn and Spring 

Programmes: BSc Econ Accounting and Management, BSc Business Management, 

BSc Business Management (International Management), BSc Business 

Management (Logistics and Operations), BSc Business Management 

(Marketing), BSc Business Management with a European Language, 

BSc Business Studies and Japanese. 


To develop an understanding of the role of international firms in the world economy and their influence 

on the economic development of host countries. To facilitate understanding and application of methods 

of assessing international markets, entering them and developing, implementing and evaluating 

international marketing programmes. 




• Demonstrate an in-depth understanding of the role of multinationals in the world economy 

• Identify and assess the international marketing issues facing firms. 

• Contrast the evolution of multinationals in North America, Western Europe, Japan and the newly 

industrialising countries 


• Contrast the evolution of multinationals in North America, Western Europe, Japan and the newly 

industrialising countries 

• Diagnose the fundamental issues involved in the internationalisation of business activity 

• Appreciate the impact of culture in international business and marketing. 


• Explore the application of alternative international marketing strategies. 

• Develop international marketing strategies 

• Synthesise theories of corporate internationalisation and question the future of the 

multinational. 


• Demonstrate ability to analyse concepts and theories and to apply these to different 

international contexts and then to evaluate applicability and implications within both a business 

and societal context and across cultures. 


44 hours of lectures will include a variety of approaches such as staff presentations, guest speakers, use 

of case study and video material. Students will be encouraged to explore issues in international business 

and marketing in their own study time as well as for the assessments 

ASSESSMENT: 




Individual assessed assignment of 2500 – 3000 words to be submitted 

in week 1 of the Spring Semester. 

Assessment will be via an individual assignment and an examination. 

The assignment will be designed to explore students’ understanding of and ability to apply and evaluate 

concepts and approaches to International Business. 

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The examination assesses student understanding of, and ability to use and apply, a range of approaches 

needed within international contexts of business and marketing. 


The International Business Environment 

Globalisation. International trade: Trade theories and the development of the world trading system. 

International Trade Groups 

Economic and political risk analysis: Political and economic risks – government intervention – 

operational and management problems – sourcing – implications for business – benefits and costs – 

ethical issues 

Foreign Direct Investment 

Investing in less developed and transition economies: Korea, Malaysia, Thailand, Eastern Europe, 

Russia, China and Southern Africa 

The Japanese model 

The international technological environment. Technology transfer: Technology transfer to LDCs – 

Research and Development – Dualistic economic structure – appropriate technology – LDC factor 

endowment. 

Multinationals and governments: Codes of conduct – voluntary disclosure – the future of the 

multinational – regionalisation of trade and investment. 

The context and challenge of international marketing 

Researching international markets 

Modes of entry: Exporting – turnkey projects – licensing – franchising – joint ventures – wholly owned 

subsidiaries – greenfields – takeovers – strategic alliances. 

Developing effective international competitive strategies: achievement and sustainability of positional 

advantage in foreign markets 

Product and service decisions in international marketing operations, pricing and logistics, international 

marketing communications, organising and controlling international marketing activities 


P. Artisien (2001) Multinationals in Eastern Europe, Macmillan-Palgrave. 

C.W.L. Hill (2005) International Business: Competing in the Global Marketplace, Irwin McGraw-Hill, 

Boston. 

M. Wolf (2005) Why Globalisation Works, Yale University Press, London. 

Cateora P and Ghauri P (2002) International Marketing. McGraw Hill. 

Keegan W and Schlegelmilch B (2001) Global Marketing Management, Prentice Hall. 

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INTERNATIONAL CORPORATE FINANCE 




PROGRAMMES: BSc Accounting & Finance, BSc Econ Economics & Finance, BSc 

Business Management and Finance 


The aim of this module is to analyze corporate finance issues in a global context by studying the 

economic, fiscal, currency and political environments in which international companies operate and 

the methods and techniques they use to manage their operations. 



(A Knowledge and Understanding) 

• Describe and evaluate the different types of currency regimes operating throughout the 

world. 

• Demonstrate an understanding of the functions of the foreign exchange market. 

• Show a systematic knowledge and understanding of, and critically evaluate the international 

parity relationships. 

• Evaluate the motives underlying foreign direct investment (FDI) and assess the strategies 

used to manage the financial risks arising from FDI. 

• Understand the problems introduced by national boundaries in corporate finance and show a 

systematic understanding of the ways in which international companies may overcome some 

of these problems. 

• Understand the issues involved in the estimation of the cost of capital for foreign projects. 

• Understand the effects of political risk in international financial decisions and demonstrate 

knowledge of political risk measurement and management strategies. 

• Define, measure and distinguish between the different types of foreign exchange risk and 

evaluate the different ways of managing the risks. 

• Evaluate the different motives underpinning foreign exchange risk management. 

• Assess the aims and functions of international financing and cash management. 

• Analyse the relevance of different corporate governance systems to international corporate 

finance. 

(B Intellectual Skills) 

• Collect, synthesise and evaluate primary and secondary data. 

• Solve problems, including the ability to manipulate financial and other numerical data and to 

apply statistical and economic concepts at an appropriate level. 

• Exercise powers of inquiry, logic, and critical analysis, interpretation and evaluation of 


• Undertake independent research and reading. 

• Sustain a critical argument in writing. 

(C Discipline Specific Skills) 

• Use the international parity relationships to assist in forecasting appropriate forward and spot 

foreign exchange rates. 

• Apply appropriate techniques to evaluate overseas short term and long term investment and 

financial decisions. 

• Apply appropriate numerical techniques to identify, measure and manage translation 

exposure, transaction exposure and economic exposure. 

• Assess the role of derivatives in managing foreign exchange risk. 

• Use appropriate information to measure the cost of capital for international companies when 

international financial markets are involved. 

(D Transferable Skills) 

• Communicate ideas, principles and theories effectively by oral and written means. 

• Exercise initiative, self reliance and time management skills and work independently. 

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• Appreciate alternative viewpoints. 

• Exercise numeracy, problem solving and IT skills. 

• Access and utilise information in a variety of research resources both traditional (e.g. library) 



Teaching takes place throughout the academic year. The formal timetabled components of this 

module comprise approximately 34 hours of lectures and 10 hours of classes. Theoretical concepts 

and practical problems are introduced in the lectures, along with illustrations. The classes form the 

basis for students to apply the respective numerical techniques and to discuss the theoretical and 

practical issues relating to the topics covered. A research-based approach is emphasised by referring 

students to empirical evaluations of both the theoretical and practical material covered in the lectures. 

In addition, students are referred to text books written by authors with substantial research 

experience in the field of international corporate finance; these texts also contain numerous 

references which students are encouraged to read. Both lectures and classes are designed to provide 

students with the tools and knowledge to fulfil the requirements for the learning outcomes for this 

module. Students should develop technical, evaluative, discursive and presentation skills in classes. 


ASSESSMENT: 

Examination Component: One 3 hour examination in the spring semester (70%). 

Continuous Assessment: One assignment of 2500 words or equivalent to be submitted at the end of 

the autumn semester (30%). 

The formal assessment for this module comprises individual coursework and a written examination. 

The coursework constitutes 30% of the overall mark for the module. There will also be one 3 hour 

examination at the end of the spring semester, constituting 70% of the overall module mark. 

The coursework and examination are designed to allow students to demonstrate that they have 

achieved the learning outcomes established for this module. The coursework will be in the form of an 

individual essay. Students are required to demonstrate the ability to pursue individual research and 

to read widely. The report also aims to test analytical and writing skills. 



outcomes. The paper will include questions of two types: first, problem questions requiring students 

to use the theoretical and technical material from the module to solve problems and to evaluate their 

solutions; second, essay questions designed to enable students to demonstrate their understanding of 

the theoretical and discursive material covered on the module. 



In addition the module coordinator is available at advertised times to answer queries and discuss 



Introduction to exchange rates and their relevance to multinational companies; currency systems 

around the world; currency crises; international parity relationships, purchasing power parity (PPP), 

interest rate parity, international Fisher effect; foreign exchange exposure measurement and 

management, transaction, translation and economic exposure; motives for hedging currency risk; 

foreign direct investment (FDI); international working capital management; international investment 

appraisal; political risk management; international corporate governance. 

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Shapiro, A., Multinational Financial Management, 9th edition, John Wiley & Sons. 

Eiteman, D.K., Stonehill, A.I. and Moffett, M.H., Multinational Business Finance, 12th edition, Addison- 

Wesley. 

Buckley, A., Multinational Finance, 5th edition, FT Prentice Hall. 

Copeland, L. S., Exchange Rates and International Finance, 4th edition, FT Prentice Hall. 

Madura, J. and R. Fox, International Financial Management, Thomson. 

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INTERNATIONAL ECONOMIC HISTORY 




PROGRAMMES: BSc Accounting and Economics, BSc Econ Banking and Finance, BSc 

Econ Business Economics, BSc Econ Economics, BSc Economics and 

Management Studies, BSc Econ Economics and Politics, Economics 

and Humanities, BSc Econ Economics with a European Language, 

BSc Econ Banking & Finance with a European Language, BSc Econ 

Business Economics with a European Language. 


The role of this optional module is to provide students with the historical background to their studies 

on other economics courses and to prepare them for post-graduate study in the discipline. 

The aim of the module is to analyse the historical development of different economic system since 

the mid nineteenth-century as exemplified by USA, Russia and the Soviet Union and Japan. 




• demonstrate a command of the main methodological tools used in the study of economic 

history 

• make use of the main secondary sources of historical data employed in the subject 

• demonstrate an overall knowledge and understanding of recent international economic 

history 

• undertake post-graduate study in economic history 


• synthesise and evaluate secondary data. 

• solve problems in the historical context. 

• exercise powers of inquiry, logic, critical analysis, interpretation and evaluation of arguments 

and evidence. 



• apply theoretical concepts to explain the development of the modern economies of USA, 

Russia and Japan. 


• to be able to seek out from libraries, databases or the Internet data of a statistical or 

documentary nature relevant to a particular topic of study. 

• to organise and formulate arguments based on this statistical and documentary data in 

answer to specific questions. 

• to make oral answers to specific questions and handle questioning from members of the 

group. 

• write assignments in a structured and well argued fashion. 


Teaching will take place in the Autumn and Spring semesters. There will be approximately 33 hours 

of lectures and 9 hours of classes both divided equally between the three countries studied. 

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Students are provided with relevant data and other handouts (maps, glossaries, timelines, etc) and 

are encouraged to take notes during the lecture, and to ask questions while the lecture is in progress. 

Lecture summaries and powerpoint slides are posted on the internet Blackboard database to 

download. 

For each class, students are provided with reading material and a series of questions on a particular 

topic to which answers will be prepared in advance for discussion. 


ASSESSMENT: 




Three essays of 1500 words to be submitted in week 12 of the 

Autumn Semester, week 8 of the Spring Semester and week 11 of 

the Spring Semester 

Formal Assessment: 

The three assignments each count for 10% of the final mark. The assignments (one on each of the 

countries) require a thorough understanding of the topic derived from secondary reading. At this level 

the students are expected to include in their reading, recent research published in the leading 

journals. 

Summer Examination: 

The examination paper consists of one compulsory section (A) of 25 short answer questions, and a 

series of 12 questions divided into three sections (Sections B, C, D) based on the three countries 

studied, with four questions in each section. The exam is three hours long and is designed to test 

student’s understanding of underlying concepts, factual knowledge of the subject and the ability to 

order their thoughts, answer questions directly and relevantly and demonstrate their skill at written 

presentation. 

Informal Assessment: 

Informal assessment is provided through the class programme. Classes consist of a wide variety of 

questions/problems, based on lecture material but requiring further reading. The class questions are 

designed to get students to order their material and their own thoughts in order to answer specific 

questions in a focused and relevant manner. 


The module sets out to describe and explain the economic developments experienced by USA, Russia 

and Japan since the mid nineteenth-century. For the USA, topics include the causes of economic 

growth; slavery; the importance of the railroads; the development of the banking system; the impact 

of the world wars; the Great Slump of the interwar period; the New Deal and the post-1945 era. For 

Russia, topics include the geographical and institutional restraints on economic development; the 

emancipation of the serfs; the role of the Tsarist state; war communism and the New Economic 

Policy; the collectivisation of agriculture; Stalin’s Five Year Plans; the impact of the first and second 

world wars and the failure of the reforms under Khrushchev and Gorbachev. For Japan, topics include 

the Tokugawa Shogunate; the Meiji reforms; the zaibatsu and big business; the role of the state; the 

colonial programme; the labour market; women’s economic roles; the war economy 1937-1945 and 

the post-1945 economic ‘miracle’. 

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J. Hughes, American Economic History (Scott, Foreman, 1994). 

M.E. Falkus, The Industrialisation of Russia 1700-1914 (Macmillan, 1972). 

R.W. Davies, Soviet Economic Development from Lenin to Khrushchev (CUP, 1998). 

W.J. Macpherson, The Economic Development of Japan, c1868-1941 (Cambridge, 

1995). 

Robert C. Allen, Farm to Factory (Princeton, 2003) 

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INTERNATIONAL FINANCE 




PROGRAMMES: BSc Econ Banking and Finance, BSc Econ Accounting and Economics, 

BSc Econ Economics and Management Studies, BSc Econ Banking & 

Finance with a European Language, BSc Econ Economics. 


The International Finance module aims to: 

• Describe, discuss and where appropriate perform numerical calculations relevant to, the use 

of currency derivatives for hedging, speculation and market pricing purposes. 

• Describe and discuss mainstream theories of international macroeconomics, exchange rate 

determination and market efficiency; and, where appropriate, comment upon their relevance 

to actual (observed) exchange rate movements. 




• understand the characteristics of international financial assets such as currency forward 

contracts, futures and currency options 

• be familiar with the concepts of risk, risk management, arbitrage and speculation. 

• understand the concepts of hedging and assets replication 

• have a thorough understanding of the main theories of pricing currency derivatives (forward 

contracts, futures and options). 

• have a thorough understanding of key concepts in exchange rate theory such as purchasing 

power parity and interest rate parity 

• appreciate the different theories of international macroeconomics and exchange rate 

determination (and their applications) 

• understand the efficient market hypothesis in the context of the foreign currency market and 

the main hypotheses explaining deviations from it. 


• Apply and evaluate different concepts of exchange rate risk and risk management 

• Analyse and evaluate different theories of international macroeconomics, exchange rate 

determination and market efficiency. 


• Apply models of exchange rate risk management to decision making in international finance 

• Compare the effects of monetary and real shocks under different exchange rate regimes 

• Illustrate and compare different theories of international macroeconomics and exchange rate 

determination 

• Apply the theory of market efficiency, as well as the hypotheses explaining deviations from it, 

to decision making in international finance. 


• demonstrate an ability to undertake mathematical analysis of international financial issues 

• develop problem solving skills 

• develop analytical and learning skills through class work exercises 

• interpret real world international finance data 


Teaching will take place in the Autumn and Spring semesters. There will be approximately 36 hours 

of lectures and 10 hours of classes. Students will be required to prepare and present class exercises 

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during the year. 

Students are expected to participate in classes. Class questions based on the material covered in 

lectures will be distributed to students in advance during lectures. Students will be expected to 

prepare answers in advance, and will also be expected to explain their answers during the classes. 

Questions will be asked in a variety of formats, mirroring those that the students can expect in the 

examinations, and will involve a mixture of theoretical and mathematical questions. These will 

generally require short answers, and will also involve examining the validity of statements, doing 

numerical calculations, and also providing a structure for answers to essay-type questions. 


ASSESSMENT: 

Continuous assessment: 30% 

2 class tests (15% each). One in week 7 of the Autumn semester and 

and one in week 4 of the Spring semester. 

Examination: 70% 

One 3 hour examination at the end of the Spring semester (70%) 

The class test in week 7 of the Autumn semester is designed to test students on their understanding 

of spot currency markets, exchange rate risk, the various ways through which this affects the pricing 

of foreign exchange derivative contracts (forward and futures); and the latter’s use for applications 

such as hedging, arbitrage and speculation. There are 4 questions in total; 2 questions in Section A 

and 2 questions in Section B. Students are asked to answer both questions from Section A and 1 

question from Section B. Section A, which comprises of computational questions, counts for 60 per 

cent of the examination mark. Section B, which includes questions involving applied and theoretical 

sub-questions, counts for 40 per cent. 

The class test in week 4 of the Spring semester is designed to test students on their understanding of 

currency option contracts, their pricing, and their use for the purposes of hedging, arbitrage and 

speculation. There are 3 questions in total; question 1 is compulsory; students are also asked to 

answer one question from questions 2 and 3. All questions carry equal marks. 

The examination at the end of the Spring semester is designed to test students on their 

understanding of spot currency markets and currency derivates (futures, forward and option 

contracts) taught in the Autumn Semester; and the theories of international macroeconomics, 

exchange rate determination and market efficiency taught during the Spring Semester. There are 7 

questions in total; 3 questions in Section A and 4 questions in Section B. Section A includes questions 

from the material taught in the Autumn Semester; section B includes questions from the material 

taught in the Spring Semester. Students are asked to answer 2 question from Section A and 3 

questions from Section B. Each question carries equal marks. 


Autumn Semester 

Spot exchange markets, arbitrage and least cost dealing; forward contracts in perfect markets and 

imperfect markets; currency futures contracts; introduction to currency options; pricing currency 

options using the binomial and log-normal model. 


Exchange rate parity conditions (Uncovered Interest Parity and Purchasing Power Parity); 

Fundamentals’-based models of the exchange rate and the current account (Mundell-Fleming, the 

flexible price monetary model, the sticky-price monetary model and the portfolio balance model); 

Foreign exchange market efficiency. 

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Autumn Semester 

Sercu, P. (2009), International Finance: Theory into Practice, Princeton University Press 


Copeland L.S. (2008), Exchange Rates and International Finance, fifth edition, Addison-Wesley. 

Krugman P.R., Obstfeld M. And Melitz, M. (2011), International Economics: Theory and Policy, ninth 

edition, Pearson Education. 

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INTERNATIONAL HUMAN RESOURCE MANAGEMENT 






BSc Business Management (Logistics & Operations), BSc Business 


European Language, BSc Econ Accounting and Management, BSc 

Business Studies with Japanese, BSc Business Management & 

Finance. 


The module explores with students how the management of people has an international dimension 

and seeks to develop knowledge and understanding of HR practices within international employing 

organisations. The module also makes evident to students that HRM practices must be regarded 

within an international political economy, focusing on how nation states, civic organisations, global 

business activities and transnational bodies shape contemporary HRM practices. 




• Demonstrate knowledge and understanding of the process of managing human resources in 

international organisations 

• Demonstrate knowledge and understanding of the context that shapes international HRM, 

including the strategies and structures of firms, the institutions and cultures of host countries, 

the international regulatory environment, and international trade unionism and the new social 

movements 


• This module will encourage students to develop a critical approach to ideas and evidence 

encountered in the module of study. 

• The assessed essay and examination require students to demonstrate a knowledge of, and an 

ability to synthesise and evaluate the relative merits of different arguments in each of the 

main areas of the syllabus. 


• Students taking the module will be required to communicate effectively and read and 

interpret theoretical and research-based literature on aspects of international HRM and 

international employment relations. 

• Students will also acquire an ability to evaluate and formulate policies relating to the 

management of workforces in international organisations, including conformance to 

international labour standards. 


• Students taking the module will develop a series of advanced learning skills. 

• There is an emphasis on good oral communication within tutorials and a particular stress is 

placed on the development of effective writing skills. 

• Students will work in groups to complete tutorial exercises, allowing team-working skills to be 

nurtured and there is an emphasis on developing research skills through the use of internet 

and other electronic sources in tutorial exercises. 

• General study skills will be developed through the use of lectures, tutorials and reading lists 

and through the preparation of an assignment and completion of the examination. 

• Students will refine word-processing skills by submitting an assignment with an accent on 

imaginative presentation. 

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This module will rely upon a student-centred and active learning approach to teaching. Students 

develop the necessary insights and skills to allow them to become independent learners. Tutorial and 

lecture activities are planned carefully so that they not only impart necessary information and 

knowledge but allow students to participate in the learning process and develop their competencies. 

High expectations will be communicated to students in order to build esteem and promote effective 

performance. The module will employ a diverse range of teaching methodologies and techniques and 

there will be a deliberate effort to avoid lectures and tutorials becoming formulaic and predictable. 

The module will consist of 40 hours of lectures and 10 hours of tutorials. 


ASSESSMENT: 




One essay/report of 3000 words in length completed in the first 

semester to be submitted in week 11 of the autumn semester. 

The extent of student reading and knowledge of the subject is formally assessed in the examination 

and assessed essay/report components of the module. Oral communication is informally assessed via 

comments given to students on presentations and discussions in tutorials. Comments are made on 

the presentation and content of word-processed assessed work, using agreed criteria and there is 

overall feedback on the assignment given to the group. Both mechanisms allow for formative 

assessment. Informal assessment is made of the depth and quality of the material gathered for 

tutorial work and individual and group activities are informally assessed with comments relating to the 

strengths and weaknesses of student performance. 

The examination will be of three hours in length and will require students to answer three questions, 

at least one of which will relate to the first semester’s work. The assignment will consist of a 

substantial individual piece of work (essay or report) of 3000 words in length 


Globalisation, international competition and employment; International HRM and the HR manager in a 

global economy; International labour standards; European social models and HRM; Varieties of 

capitalism; National systems of employment and HRM (Japan, USA, Spain and Asian models); Beyond 

national models – pressures for change of IHRM; Industrial patterns of HRM (civil aviation and auto 

manufacturing); The convergence of IHRM; Training and education of employees; Corporate social 

responsibility; Work organization; Expatriation: Staffing the multinational companies; International 

management development 


Edwards, T. and C. Rees (2006) International Human Resource Management: Globalisation, National 

Systems and Multinational Companies, Prentice Hall. 

Harzing, A-W. and H. Van Ruysseveldt (eds.) (2004) International Human Resource Management, 

Sage. 

General Reading 

Bamber, G. et al (2004) International and Comparative Industrial Relations, Sage. 

Boyer, R. et al (eds.) (1998) Between Imitation and Innovation: The Transfer and Hybridization of 

Productive Models in the International Automobile Industry, 

Oxford University Press. 

Brewster, C. et al (2007) International Human Resource Management, CIPD. 

Briscoe, D. et al (2009) International Human Resource Management: Policies and Practices for the 

Global Enterprise, Routledge. 

Brown, P. et al (2001) High Skills: Globalisation, Competitiveness and Skill Formation, Oxford 

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University Press. 

Budhwar, P. (ed.) (2004) Managing Human Resources in Asia-Pacific, Routledge. 

Dowling, P. and D. E. Welch (2004) International Human Resource Management: Managing People in 

a Multinational Context, Thomson Learning. 

Dowling, P. et al (2008) International Human Resource Management, Thomson. 

Eaton, J. (2000) Comparative Employment Relations: An Introduction, Polity Press. 

Ferner, A. and R. Hyman (eds.) (1998) Changing Industrial Relations in the New Europe, Blackwell. 

Hall, P. and D. Soskice (eds.) (2001) Varieties of Capitalism, Oxford University Press. 

Hyman, R. (2001) Understanding European Trade Unionism, Sage. 

Lucas, R. et al (2006) Human Resource Management in an International Context, CIPD. 

Morley, M.J. et al (eds.) (2006) Global Industrial Relations, Routledge. 

Ozbilgin, M. (2005) International Human Resource Management, Palgrave. 

Parker, B. (1998) Globalization and Business Practice: Managing Across Boundaries, Sage. 

Roozendahl, G. (2002) Trade Unions and Global Governance, Continuum. 

Scullion, H. et al (2005) International Human Resource Management, Palgrave. 

Scullion, H. (2006) Global Staffing, Routledge. 

Tayeb, M. (2005) International Human Resource Management: A Multinational Company Perspective, 

Oxford University Press. 

Students will be expected to make use of relevant journals including: 

British Journal of Industrial Relations 

Bulletin of Comparative Labour Relations 

European Journal of Industrial Relations 

International Journal of Human Resource Management 

Politics and Society 

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INTERNATIONAL TRADE 





Econ Business Economics, BSc Econ Economics, BSc Economics with 

a European Language, BSc Econ Economics and Management 

Studies, BSc Econ Economics & Sociology, BSc Econ Economics & 

Politics, BSc Econ Economics & Humanities, BSc Econ Banking and 

Finance, BSc Econ Banking and Finance with A European Language, 

BSc Econ Business Economics with a European Language. 


The International Trade module aims to provide students with a sound understanding of the method, 

content and scope of International Trade, a basic knowledge of the world trading system, and an 

appreciation of current trade policy issues. 




• understand the pattern of world trade, and the institutions and rules of the world trading 

system 

• understand the main models of international trade and how they can be applied to the analysis 

of trade policy 

• understand and know about current trade policy issues 

• understand the implications of empirical tests of international trade models 


• apply general equilibrium analysis from microeconomics to the analysis of international trade 

problems 

• use models of imperfect competition and basic game theory to analyse international trade 

• compare different models of international trade and assess their validity in terms of coherence 

of the theory and the empirical evidence 


• derive the key results of the main international trade models and use them to analyse trade 

policy issues 

• analyse and assess the positive and normative implications of trade policy 

• assess the arguments about free trade and protectionism 


• listen to and read the economic literature, from journal articles to newspaper commentaries 

• write coherently on major economic issues 

• work independently on economic problems, managing their time and resources efficiently 

• operate in small groups, sharing ideas and reaching collective views 

• develop logical arguments and make sensible decision as to their value 

• deliver lucid presentations on economic research and current policy 


Teaching will consist of 36 hours of lectures and 9 hours of tutorials. Lectures are used to identify the 

main issues and to present the analytical models of international trade and trade policy. Tutorials are 

used for students to apply the models to the solution of analytical problems in international trade, 

and to discuss policy issues and empirical research. 


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ASSESSMENT: 


One 2 hour examination at the end of the Autumn semester (30%) 

and a 3 hour examination at the end of the Spring semester (70%) 


Introduction to International Trade: overview of international trade. Conventional Trade Theories: 

mercantilism; absolute advantage; comparative advantage and the gains from trade; the neoclassical 

model, offer curves and the terms of trade; the Heckscher-Ohlin-Samuelson model (Heckscher-Ohlin, 

Rybczynski, Stolper-Samuelson and factor-price equalisation theorems). Imperfect Competition and 

International Trade: intra-industry trade; international trade under oligopoly; product differentiation, 

economies of scale and monopolisitic competition. Empirical testing of trade theories. Trade policy: 

history and principles of the GATT and the WTO. Analysis of Trade policy: tariffs, export taxes and 

subsidies in a small country; tariffs in a large country and the optimum tariff argument; domestic 

distortions and the theory of second-best; quotas and voluntary export restraints; dumping and antidumping 

duties. Strategic Trade Policy: rent-extracting tariffs and profit-shifting export subsidies. 

Economic Integration: the theory of customs unions; the Kemp-Wan proposition; trade blocs and 

regionalism. Growth and Trade: economic growth and the terms of trade. International Factor 

Movements: capital mobility and the migration of labour. Multinationals and Foreign Direct 

Investment: Ownership, Location and Internalization; oligopoly models of multinationals and FDI. 


D.R. Appleyard, A.J. Field and S.L. Cobb, International Economics, 7th 

Edition, McGraw-Hill, 2009 

J.R. Markusen, J.R. Melvin, W.H. Kaempfer and K.E. Maskus, International Trade: Theory and 

Evidence, McGraw-Hill, 1995. 

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JAPANESE MANAGEMENT SYSTEMS 




PROGRAMMES: BSc Business Studies with Japanese, BSc Business Management, BSc 

Business Management (Human Resources), BSc Business 


Management (Logistics and Operations). 


This module is designed to provide students with an understanding of a variety of concepts and 

issues that are related to Japanese Management systems, as applied to their development in Japan 

and in an international context. The aim of the module is to develop understanding of theories that 

have been developed to examine Japanese Management systems and knowledge of their primary 

elements. 




• Identify the particular political, economic and social forces that underline the development of 

Japanese management systems; 

• Display an understanding of the historical development of the Japanese economy; 

• Assess the role of the state in the industrial development of Japan; 

• Critically analyse the industrial relations and HRM practices in Japan; 

• Evaluate how Japanese Management systems have been transferred abroad; 

• Identify organisational features associated with Japanese Management systems 

• Assess the dynamics of change in the Japanese Management system 

B. Transferable Skills: 

• Apply relevant theories to Japanese Management systems 

• Critically analyse empirical material 

C. Intellectual Skills: 

• To critically explore contemporary Japanese Management from a range of contrasting 

frameworks 


• Have a range of written and oral skills to help in future career development in management 

• Work effectively in groups 

• Apply key tenets of reflective practice to problem solving 

• Effective use of a range of methods of communication in analysing contemporary Japanese 

Management 

• Develop a range of analytical skills in examining Japanese Management 


The formal timetable comprises of 35 hours of lectures and 10 hours of classes. The lecture 

programme is supported by photocopied handouts based on Powerpoint lecture slides and 

recommended reading for each subject. Students are supported throughout the module programme 

through advertised weekly consultation sessions with the programme lecturers. Additional one-to-one 

sessions between the lecturer and student(s) are accommodated following the delivery of the weekly 

lecture and by means of email correspondence. 


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ASSESSMENT: 




One essay of 3000 words to be submitted in week 10 of the Autumn 

Semester 

Summative assessment is based on an essay assignment and end-of-module examination. Both are 

designed to assess the extent to which students have achieved the module’s learning outcomes. 

Principally, the assessments are designed to determine whether students can critically evaluate the 

theoretical models and identify the key empirical issues facing managers and policy makers in Japan. 

Students’ ability to develop a coherent argument based on empirical evidence is also assessed 

through the written essay assignment. 

Verbal presentation skills are evaluated during the class sessions when individual and collective 

presentations are prepared and delivered before class members. During these sessions the lecturer 

provides students with constructive feedback on their delivery style and presentation structure. 

Informal feedback and formative assessment is provided to all students requesting advice with 

regards to essay structure and the revision programme. 


The themes covered include: 

The political economy of Japan; Japan’s economic and industrial history; the role of the state in 

Japanese economic growth; the role of financial capital; globalisation of Japanese industry; Japanese 

trade and foreign direct investment; Japanese manufacturing systems; total quality management and 

just-in-time production; interorganisational relationships; Japanese HRM and industrial relations 

systems; the transfer of Japanese Management systems. 


Harukiyo H and Hook G (1998) Japanese Business Management, London: Routledge 

Berggren C and Nomura M (1997) The Resilience of Corporate Japan, London: PCP 

Kono T and Clegg S (2001) Trends in Japanese Management, London: Palgrave 

Preston PW (2000) Understanding Modern Japan, London: Sage 

Morris-Suzuki T (1998) Re-inventing Japan, London: M E Sharpe 

Flath D (2000) The Japanese Economy, Oxford: Oxford University Press 

Yamamura K and Streeck W (eds) (2003) The End of Diversity? Prospects for German and Japanese 

Capitalism, Ithica: Cornell University Press 

Bailey D, Coffe D and Tomlinson P (2007) Crisis or Recovery in Japan: State and Industrial Economy, 

Cheltenham: Edward Elgar 

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LABOUR ECONOMICS 




PROGRAMMES: BSc Econ Accounting and Economics, BSc Econ Banking and Finance, 

BSc Econ Banking & Finance with a European Language, BSc Econ 

Economics, BSc Econ Business Economics, BSc Econ Business 

Economics with a European Language, BSc Econ Economics with a 

European Language, BSc Econ Economics & Politics, BA Economics 

with Humanities. 


The Labour Economics module provides students with the opportunity to build on the theoretical 

analysis and the quantitative techniques introduced in the Year 2 modules by applying what they 

have learnt to examining the workings of the UK labour market. Specifically, its role is to develop 

intermediate microeconomic and macroeconomic analysis to investigate the nature, causes and 

implications of unemployment and wage differentials. The module introduces the results of empirical 

work in order to evaluate both economists’ explanations of labour market behaviour and alternative 

policy options for improving performance. 

The Labour Economics module aims to provide students with a sound understanding of the method, 

content and scope of Labour Economics, a basic knowledge of the workings of the UK Labour Market, 

and an appreciation of current problems and policies. 




• identify the main structural changes taking place in the UK Labour Market, and to outline the 

trends in the central Labour Market outcomes 

• recognise the contribution of economic theory to Labour Market analysis, and to relate the 

models they encounter to observed outcomes 

• access the main forms and sources of data on the Labour Market, and to apply UK data to 

topics they have covered 

• outline the main sources of Labour Market distortions and failures, and to demonstrate their 

importance 


• report and explain the main findings of Labour Economics empirical research on topics they 

have covered 

• understand the role of empirical evidence in Labour Economics in elucidating specific debates 

• grasp the distinction between alternative explanations of Labour Markets outcomes, but be 

able to bring together their insights to improve understanding 

• appreciate the main policy initiatives to improve Labour Market performance, and to evaluate 

the options 


• apply basic labour economics concepts and ideas to a range of labour market issues 

• use theoretical analysis to identify the key issues raised by problematic market outcomes 

• work out how best to rigorously investigate specific aspects of labour market behaviour 


• listen to and read effectively economic literature, from journal articles to newspaper 

commentaries 

• write coherently on major economic issues 

• introduce statistical results into economic discussions 

• work independently on economic problems, managing their time and resources efficiently 

• operate in small groups, sharing ideas and reaching collective views 

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• develop logical arguments and make sensible decision as to their value 

• deliver lucid presentations on economic research and current policy 


Teaching takes place in the Autumn and Spring semesters. There are approximately 34 hours of 

lectures and 12 hours of classes covering 8 core topics. 

Staff have produced a series of background papers which cover the theoretical and technical material 

relating to some of the topics covered. Students are advised to work on these first and foremost. 

Thereafter students are encouraged to move on to journal articles and in particular to articles from 

the empirical literature. 

Lectures are used to identify the structure of each topic, cover the more difficult technical material 

and introduce relevant interesting extensions and applications. The classes are a combination of 

workshops and seminars. In the workshops students work in small groups on set problems related to 

the lecture theoretical material. The students have the opportunity to get to know one another and 

to develop their group/communication skills. The seminars cover the empirical work associated with 

each topic. Students prepare and deliver oral presentations with overheads and handouts of their 

(individual and group) work on set readings from the empirical literature. They thus have the 

opportunity to develop their presentation/communication skills as well as their understanding of the 

applied elements of labour economics. 


ASSESSMENT: 


One 3 hour examination in the Spring Semester 


Two assignments to be submitted in week 12 of the Autumn 

Semester and week 11 of the Spring Semester 

In terms of informal assessment, working with small groups within the workshops and seminars, 

enables staff the opportunity to gauge the abilities, work and character of each student on the 

module. The module encourages a variety of discipline specific and core skills. Much of the work on 

the module is student driven, so students have ample opportunity to demonstrate their skills. 

The assignments require the integration and assessment of economic theory and empirical material. 

The examination paper requires the student to solve problems using the theoretical and technical 

material they have met. This allows students to demonstrate their intellectual skills in synthesis. The 

questions require the application of labour economics to specific aspects of unemployment and wage 

differentials. This encourages/allows students to demonstrate their intellectual skills in evaluation. 

Together the informal and formal assessment activities allow staff to identify whether the module’s 

learning outcomes are being realised. 


The Labour Market and Trade Unions; modelling & estimating the union mark up and the effects of 

unions on productivity, profits etc. The Labour Market and Structural Change: mismatch, structural 

change and labour market flexibility. The Internal Labour Market; productivity and efficiency wages, 

structured internal labour markets. Labour Market Dynamics; flows, duration, hysterisis, long term 

unemployment, & Insider/Outsider analysis. The Distribution of Earnings; compensating wage 

differentials, Human Capital theory. Explaining Male/Female Earnings Differentials; discrimination, 

segmentation and the UK wage differential. Personnel Economics; Human Resource Management, 

high performance work systems, performance related pay as an incentive system. 


T Boeri and J Van Ours The Economics of Imperfect Labour Markets Princeton University Press 

S Polachek & W S Siebert The Economics of Earnings Cambridge University Press 

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LANGUAGE SKILLS FOR PROFESSIONALS - FRENCH 




PROGRAMMES: BSc Accounting with a European Language, BSc Business 

Management with a European Language and BSc Econ Economics 

with a European Language 


The aim of this module is to equip students with the necessary language employability skills, together 

with an understanding of employment issues in the EU context to be able to work in French speaking 

countries. 




• show their ability to apply for jobs in French speaking countries by participating in simulated 

situations and producing written work with a near native linguistic competence, 

• demonstrate their understanding of employment organisations in the EU context, 

• demonstrate their ability to read and comprehend official documents by commenting 

intelligently on their contents, both orally and in writing, 

• demonstrate their presentational skills in French by giving business presentations and 

participating. 


• extract and synthesise key information from written and spoken sources, 

• engage in constructive and critical assessment of ideas and arguments. 


• demonstrate their ability to express themselves creatively and fluently on a wide range of 

topics business related within the framework of a structured and reasoned argument, 

• demonstrate their ability to communicate in writing by effectively applying analytical and 

problem solving skills, 

• demonstrate their ability to extract and analyse detailed information from spoken sources, 

• make effective use of language reference materials, to refine knowledge and understanding 

of register, nuances of meaning and language use. 


• show an ability to work creatively and flexibly with other as part of a team, 

• show effective use of mediating skills and qualities of empathy. 


There will be 48 hours of language workshops during which students will work in small groups using 

authentic documents published by the European Union. 


ASSESSMENT: 

Examination component 50% 

One 2 hour written examination at the end of the Spring Semester 

Continuous assessment 50% 

One oral presentation 20% 

One 20-minute oral presentation 15% 

One 30-minute aural test 15% 

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Extensive use of the Internet to obtain EU documentation; documentation from French business 

magazines and textbooks; intensive practise of translation and interpreting skills; legal documentation 

on the French job market; case studies. 


Les Notices – L’Union Européenne, La documentation Française, Paris 1999. 

Access to a selection of French newspapers and magazines: 

www.cardiff.ac.uk/learn/languages/french 

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LANGUAGE SKILLS FOR PROFESSIONALS - SPANISH 





Management with a European Language and BSc Economics with a 




with an understanding of employment issues in the EU context to be able to work in Spanish speaking 

countries. 




• show their ability to apply for jobs in Spanish speaking countries by participating in simulated 

situations and producing written work with a near native linguistic competence. 

• demonstrate their understanding of employment organisations in the EU context. 


intelligently on their contents, both orally and in writing. 

• demonstrate their presentational skills in Spanish by giving business 



















ASSESSMENT: 




One oral presentation 20% 

One 20-minute oral presentation 15% 


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Extensive use of the Internet to obtain EU documentation; documentation from Spanish business 


on the Spanish job market; case studies. 


Aguirre Beltran B, 1998, El Espanol por profesiones, 1 La Empresa, S.A. 

1993, Dictionary of Business, English-Spanish, Spanish-English, Peter Collin Publishing 

Journals: 

Emprendedores, Muy Interesante, Puerto del Sol 

Access to a selection of Spanish newspapers and magazines: 

www.cardiff.ac.uk/learn/languages/spanish 

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LANGUAGE SKILLS FOR PROFESSIONALS - GERMAN 





Management with a European Language and BSc Economics with a 




with an understanding of employment issues in the EU context to be able to work in German 

speaking countries. 




• show their ability to apply for jobs in German speaking countries by participating in simulated 

situations and producing written work with a near native linguistic competence. 

• demonstrate their understanding of employment organisations in the EU context. 


intelligently on their contents, both orally and in writing. 

• demonstrate their presentational skills in German by giving business presentation. 



















ASSESSMENT: 




One oral test 20% 

One 20-minute oral 15% 


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Extensive use of the Internet to obtain EU documentation; documentation from German business 


on the German job market; case studies. 


Renner Sachs, 1987, Economic Terminology, Hueber 

Seel H, 1999, Deutschland in Europa-Europa in Deutschland, Inter Nationes 

Access to a selection of German newspapers and magazines: 

www.cardiff.ac.uk/learn/languages/german 

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MACROECONOMIC ANALYSIS 




PROGRAMMES: BSc Econ Accounting & Economics, BSc Econ Economics, BSc Econ 

Economics with a European Language, BSc Econ Economics and 

Finance, BSc Econ Economics and Management Studies, BSc Econ 

Economics & Politics 


The Macroeconomic Theory module aims to: 

• provide students with a thorough understanding of the method, content and scope of 

macroeconomic analysis. 

• stimulate students to appreciate the value of economic analysis in understanding the behaviour of 

the economy. 

• give students a firm foundation of knowledge about the policy issues facing the UK and other 

governments in respect of monetary and fiscal affairs. 

• encourage, through the study, teaching and learning of the module, a range of transferable 

subject-specific and core skills that will be of value to students in future education and in their 

subsequent careers. 

• progress students’ intellectual development, through teaching and learning, beyond 

comprehension and application to analysis. 




• understand models of the economy and the theoretical and empirical work that has led to 

their evolution. 

• be familiar with the policy debates about monetary and fiscal stabilisation - ineffectiveness, 

time-inconsistency, and the Lucas Critique. 


• be aware of the various macroeconomic theories that have been held by economists since 

classical times. 


• be able to solve models and carry out simulation of shocks on them, using algebra and 

diagrams. 

• understand how to integrate macroeconomic theories into the open economy and solve a 

basic open economy macro model. 


• be able to solve models and carry out simulation of shocks on them, using algebra and 

diagrams. 

• be familiar with the policy debates about monetary and fiscal stabilisation - ineffectiveness, 

time-inconsistency, and the Lucas Critique. 


This is a double module consisting of 2 lectures and 1 class per week. Total contact hours 60 approx 

Study requirement per week in addition estimated at 10 hours per week for an average student. 

This course requires mastery of diagrammatic and algebraic analysis of macroeconomic models of the 

economy in a simplified form. For this reason the students must spend a great deal of time practising 

these techniques both before and in class. During lectures they have to assimilate the methods as 

well as absorbing general information about the subject. 

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ASSESSMENT: 


One 2 hour examination at the end of the Autumn Semester 


The 2-hour exam is designed to test the ability to solve models of adaptive and rational expectations. 

It consists of two problems, each being a simple model of the economy which must be solved and its 

implications commented upon much of the first semester’s effort is devoted to learning these 

techniques so that the students can themselves apply analysis of policy to models. The final 

examination (3 hours, 4 essays) tests their ability to evaluate the role of policy in the economy and to 

analyse the effects of shocks on the economy. 


Foundations of macro-the Classical Model 

Aggregate demand and supply and the workings of the Classical system. 

The Keynesian model and the Neo-Classical Synthesis 

The development of the IS/LM model; the expectations-augmented Phillips Curve and the 

Accelerationist Hypothesis; adaptive expectations and monetarism. 

Rational expectations and the New Classical macroeconomics 

The RE Hypothesis and the New Classical model. The New Keynesian model. 

Policy implications and market efficiency 

The policy ineffectiveness debate and the Lucas Critique. Time-inconsistency and its resolution. 

Implications of RE for the behaviour of financial markets and relation to market efficiency. 

Open economy macroeconomics 

The Mundell-Fleming model, integrated with New Classical/Keynesian theory to build a complete open 

economy model for applied work. Brief review of models of the UK. 


P. Minford and D. Peel, ‘Advanced Macroeconomics: A Primer ‘ 

M. Parkin and R. Bade, ‘Modern macroeconomics’ 

Chiang ‘Fundamental Methods of Mathematical Economics’ 

D. Begg, ‘The Rational Expectations Revolution in Macroeconomics’ 

R.E. Lucas and T.J. Sargent ‘Rational Expectations and Econometric Practice’ 

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MANAGEMENT ACCOUNTING AND CONTROL 




PROGRAMMES: BSc Accounting, BSc Econ Accounting & Economics, BSc Econ 

Accounting & Management, BSc Accounting & Finance, BSc 

Accounting with a European Language 


The aim of the module is to provide specialist accounting students with a level 3 course that builds on 

and complements previous management accounting courses. The module introduces a number of key 

issues relating to the role of management accounting in the control of managerial and organizational 

performance. The module locates management accounting firmly within its organizational context. 




• have knowledge and understanding of the concept of management control and the 

contribution of management accounting to this organizationally based phenomenon 

• have knowledge and understanding of a range of management accounting and control 

systems 

• have knowledge and understanding of key features of management accounting control 

systems design and implementation 

• have knowledge and understanding of developments in management accounting and control, 

including concepts such as beliefs systems, interactive control systems and the balanced 

scorecard 

• have knowledge and understanding of enduring issues in management accounting and 

control, including budgeting, capital budgeting, responsibility accounting, pricing, and transfer 

pricing 

• have knowledge and understanding of the impact of organizational design on management 

accounting control systems 

• have knowledge and understanding of various concepts and theories informing the analysis of 

management accounting control systems 


• capacity to identify relevant data and theoretical approaches 

• application of discursive and numerical analysis skills 

• use of theoretical models to critique existing systems 

• critical analysis capabilities 


• be able to identify relevant management accounting control issues in a range of situations 

• be able to apply techniques to enable management accounting to contribute to organizational 

strategy 

• be able to apply a range of theoretical models to identify potential solutions to practical 

management accounting problems 


• ability to use theory to perform critical analysis 

• ability to develop reasoned arguments based on existing knowledge 

• ability to apply conceptual and numerical analysis in a problem solving context 

• ability to communicate complex ideas with clarity 

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Teaching is through approximately 36 lectures and 8 seminar classes. Lectures present the theory 

behind topics and will discuss the interplay between theory and practice. Classes reinforce this 

material through discussion of theoretical aspects and more extensive case illustrations. Class 

assignments are distributed in advance of tutorials and the questions set are expected to be prepared 

by students prior to the class. Lectures incorporate appropriate research that is expected to be 

referred to in class discussions. 

Indicative study hours: 160 (based on School norm) 

ASSESSMENT: 




One 2,500 word assessment to be submitted in week 8 of the Spring 

Semester 

Students will be able to demonstrate knowledge of management accounting and control systems in 

the examination. This will also allow them to demonstrate their critical appreciation of the topics. 

Use of theoretical models will be demonstrated in both the examination and coursework components. 

Discipline specific skills will be demonstrated in all aspects of assessment. 


The notion of management control; The role of management accounting in management control; The 

development of management accounting; Accounting implications of organisational design; 

Motivational implications of management accounting and control systems; Developments in 

management accounting and management control, including activity based cost management, cost 

based decision making, the notion of beliefs systems and interactive control systems, and the 

balanced scorecard; Control issues in centralised and decentralised operations; The theory and 

practice of the pricing of transfers between divisions; Issues in performance appraisal including 

agency and behavioural approaches; Organisational and behavioural insights into management 

accounting control systems; Strategic management accounting approaches. 


The reading for BS3517 is journal based. 

Topic by topic reading lists will be distributed in advance of lectures. 

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MANAGEMENT & PUBLIC POLICY IN THE EUROPEAN 

UNION 







Management (Marketing), BSc in Business Management with a 



The aim of this third level module is to develop the student’s awareness of those aspects of the 

operation of the European Union which are of most relevance to the environment in which European 

businesses operate on a day to day basis. Initially students will be introduced to the overall vision, 

political philosophy and ultimate objectives of the European Union and to the European social model 

and surrounding controversies. The European Union policy-making process will be outlined together 

with the role and character of key institutions and actors in the formulation of social, economic and 

employment policies. This will be followed by an evaluation in detail, of a range of specific policies 

which are of particular relevance to business actors 

The ultimate aim is for students to develop a critical awareness enabling them to evaluate a range of 

issues surrounding the EU and its future. 




• critically assess the importance and relevance of some of the main contemporary issues 

facing the Union such as its accountability, perceived democratic deficit and bureaucratic 

centralisation. 

• have an appreciation of key social ,economic and employment policies of the EU and the 

policy making process 

• understand the issues raised by enlargement in respect of labour markets and labour mobility 

• understand the ultimate vision of the integration process and debates surrounding that vision 

• understand how key actors (e.g. trade unions and employers) help shape European regional 

and social policy 

B. Intellectual Skills 

• analytical (analysing literature and constructing a case) 

• communication (presenting information effectively 

• learning (reflecting on personal and group perspectives) 

C Transferable Skills: 

• develop a range of academic and intellective skills through presentations, workshops and 

seminars 


The module provides some 34 hours of lectures and 10 hours of classes/seminars spread across the 

two semesters. The programme covers all the main areas identified in the syllabus and, in addition, a 

variety of expert visiting or guest lecturers are invited to contribute to the programme. 


ASSESSMENT: 



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One assessed essay of 3000 words to be submitted in week 7 of the 

Spring semester 

The assessed essay will enable students to undertake research into a topic from either the first or 

second semester and the examination will test student knowledge of subjects taught in both the first 

and the second semesters. 


Key Issues and Concepts 

Including an exploration of different ‘visions’ or political philosophies regarding the nature and role of 

the European Union. For some the E.U is viewed in narrow economic terms and concerns are 

focused on the single market. For others the E.U. embodies a distinct set of social values reflected in 

the development of policies for example, on energy, transport and employment. The development of 

an ‘espace social’ (Delors) or ‘European Social Model’ is, according to some commentators (e.g. 

Hutton), increasingly important as a bulwark against globalisation and ‘Americanisation’. Lying behind 

all of this discussion is the contrast between an intergovernmental adversarial approach to economic 

and political integration and a supranationalist co-operative approach. Such interpretations of 

Europe’s role will be explored and the implications of policy for employers, trade unions, employees 

and citizens assessed. The influence of enlargement on conceptions of the E.U. will form an 

important area of analysis. 

Primary Institutions 

An evaluation of the role and nature of the primary institutions constituting the core of the EU’s 

administrative and political systems; what they are for and how they operate. An examination of the 

arguments for and against federal versus a confederal future for the EU. The issue of the so-called 

democratic deficit in the manner of operation of the institutions; the role of Parliament now and in the 

future. . 

Major Policy Initiatives 

An examination of such issues as the impact of EU industrial, commercial and social policies upon the 

activities of companies, in areas such as training and worker rights, employment policy, equality, 

equal pay, the regulation of working time, European Works Councils, and other workplace initiatives. 

Economic and Monetary Union and its policy implications. Competition Policy; Regional Policy and the 

significance of enlargement. 


Gold, M (ed), 2009, Employment Policy in the EU: Origin, Themes and Prospects, Palgrave 

Scholz, C & Bohm, H (eds), 2008, Human Resource Management in Europe: Comparative Analysis 

and Contextual Understanding, Routledge. 

Nugent, The Government and Politics of the European Union (Macmillan) 5 th edition 2003 

Nicoll & Salmon, Understanding the European Union (Longman) 2001 

Hantrais, Social Policy in the EU (Macmillan) 2000 

Foster, D & Scott, P (eds),2003, Trade Unions in Europe: Meeting the Challenge (P.I.E, Peter Lang) 

Adnett, N and Hardy, S, The European Social Model, (Edward Elgar), 2005. 

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MANAGERIAL ECONOMICS 




PROGRAMMES: BSc Econ Business Economics with a European Language 


The Managerial Economics module examines a series of specific decision problems facing managers in 

modern firms. These problems include the appropriate use of economic information to inform 

strategic decisions, decision-making under conditions of uncertainty, the management of risk, and 

then the use of price and non-price decisions as strategic choices within a game theoretic framework. 

The module aims to develop and enhance the skills and materials obtained in the year 2 

Microeconomic Theory and Industrial Economics modules. The module supports year 3 modules 

including Modern Business Enterprise, Business Applications, and Applied Macroeconomics and 

Finance. 

The module develops scientific decision frameworks and evaluation techniques to help solve a range 

of managerial problems, and explores the practical limitations of applying economic logic to business 

decision-making. 

The module aims to develop, through teaching and learning, subject-specific and transferable skills, 

including technical, analytical and research skills. 




• students will understand the key strategic economic problems facing modern business firms 

and be able to apply economic principles to a range of long term and short term business 

decisions. 

• recognise the potential and limits of economic principles as an aid to business decisionmaking 

and in analysis of business decisions. 

• understand the role of game theoretic approaches in making strategic choices. 


• analytical skills: Students are expected to apply logical analysis to business economic 

problems. 

• evaluative skills: Be able to accurately classify decision problems, and apply appropriate 

methods in seeking solutions to business problems. 


• appreciate the usefulness and limitations of economic theory to decision-making 

• recognise the significance of limitations and constraints on decision-makers in the business 

world, and to develop methods to deal with these problems in decision-making 

• accurately report solutions to decision-making problems, highlighting key data, assumptions 

and environmental contexts 


• work individually, setting goals and developing ideas. 

• problem solve using a range of quantitative methodologies 

• develop logical and concise solutions to specific decision-type problems. 

• respond accurately to questioning on researched topic areas 

• collect, organise and analyse data on defined topics 

• use a variety of information and technology resources, including electronic data sources and 

the internet. 

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Teaching occurs in the Autumn and Spring semesters. There are approximately 44 hours of contact 

comprising 34 hours of lectures and 10 hours of classes. Lectures provide students with an outline of 

the course material. Students are encouraged to read around the module topics through a series of 

key reading from a core text, and with supporting information from satellite texts. Classes 

concentrate on set numerical and essay style problems allied to the core lecture material. Students 

prepare answers to problems, deliver brief presentations of solutions, and participate in class 

discussions. 

Classes explore particular decision situations in more detail. Class questions typically require a mix of 

qualitative and qualitative solutions. 


ASSESSMENT: 


One 1 hour exam at the end of the Autumn semester. (20%) 


material covered in both semesters. (80%) 

The one hour examination at the end of the Autumn semester involves students answering 2 essaystyle 

questions from a choice of 4. These questions will examine students understanding of key 

concepts and theories relating to semester one topics. 

The examination at the end of the Spring Semester is based on material covered in both Semesters. 

Section A contains questions relating to semester 1 material with section B relating to Semester 2. 

Students are required to answer at least 1 question from each section, and any further 2 questions 

from either section. This examination requires students to provide longer and more detailed answers 

than are required in the Autumn semester exam, on a range of question types, including essay 

questions and multi-part quantitative/discussion mix questions. Students will demonstrate that they 

understand the theoretical foundations of the module, provide critiques of ideas and methodologies 

where necessary, and be able to apply logical, scientific approaches to decision-making in a range of 

decision situations. 


• How do businesses use economic information? This includes business forecasting, methods 

and analytical cases, use of economic models and input and output analysis. 

• Estimating and using cost information in a competitive environment. Emphasis here is 

on topics such as relevant costs for decision-making, cost estimation techniques, including 

statistical analysis, survivor analysis and engineering cost techniques. 

• How do firms make investment decisions in the presence of uncertainty? This includes 

cost of capital estimation, Modigliani and Miller ideas, Capital Asset Pricing Model and the 

Weighted Average Cost of Capital, financing of investments and capital structure optimisation; 

when firms should lease rather than buy assets. 

• Location decisions as strategic economic choices. Topics include agglomeration economies, 

increasing returns, central place theory, industrial districts, and analysis of competition through 

geographical space. 

• How do managers deal with risk? Topics include the use of insurance, trading risks, hedging, 

options and foreign exchange. 

• Strategic commitment We discuss how firms through strategic commitment can change the 

nature of competition in an industry in their favour. Includes analysis of entry and exit decisions 

and with emphasis on strategies, including pricing that a firm can use to deter entry or to 

promote exit of rival firms. 

• Why and when do businesses outsource? Strategic issues in business outsourcing and 

facilities management; theoretical perspectives on the make or buy decision. 

• Bidding and auction design: This topic explores various types of auctions, optimal bidding 

strategies for buyers, the winner’s curse, and optimal auction design. 

• Entry and Exit: Emphasis here is on strategies that a firm can use to deter entry or to promote 

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exit of rival firms. 

• Business decisions and sustainable economic development: This includes the importance 

of understanding sustainability in context of corporate economic decision making; understanding 

policy frameworks and their ramifications for business decisions; understanding the 

environmental implications of business decisions; practical cases. 


J R McGuigan, R Moyer, and F H Harris, Economics for Managers, 11th Edition (Thomson South- 

Western, 2008) 

H.C. Petersen and W.C. Lewis, Managerial Economics, 4th Edition (Prentice-Hall International 1999) 

Philip McCann, Urban and Regional Economics, Oxford University Press, 2001. 

D. Besanko, D. Dranove, M. Shanley, S. Schaefer, Economics of Strategy, 3rd Edition, (Wiley, 2004). 

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MARKETING DECISION MAKING 




PROGRAMMES: BSc Econ Accounting and Management, BSc Econ Banking and 

Finance, BSc Econ Business Economics, BSc Business Management, 


Management (International Management), BSc Business Management 

(Logistics and Operations), BSc Business Management (Marketing), 

BSc Business Management with a European Language, BSc Business 

Studies and Japanese, BSc Econ Economics & Management Studies. 


The module presents the context, concepts, methods and applications of decision modelling, covering 

marketing decision areas such as segmentation, positioning, new product design, forecasting, 

advertising and promotion planning, pricing and product strategies. This course will help students 

develop skills and learn techniques necessary for translating conceptual understanding into specific 

operational plans and marketing decisions. 



A. Knowledge and Understanding: 

• Understand how analytical techniques and computer models can enhance marketing decision 

making. 

• Understand how to apply specific analytical techniques to address market problems in a variety 

of contexts. 

• Critically appraise marketing phenomena and processes for their usefulness in decision-making 

• Evaluate the components of marketing strategies and programmes for relevance and outcomes. 

• Assess the implementation barriers facing specific marketing initiatives and develop a logical 

approach to problem-solving. 


• Exercise powers of inquiry, logic and critical analysis 

• Interpret and evaluate arguments and evidence 

• Translate findings into actionable activities. 


• To discriminate and critically evaluate different marketing actions in terms of relevance, 

efficiency and results. 

• Ability to apply software tools to real marketing decision problems 

• Appreciate the processes and impediments to developing and implementing a strategic 

marketing plan 


• To access and critically appraise from a variety of research resources 

• To identify alternative options in a decision-making context. 

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The formal timetabled components of the module consist of approximately 44 hours of lectures and 12 

hours of labs. The lecture programme is supported by detailed handouts and structured reading of core 

texts and additional readings. The labs will focus on developing analytical skills and will be supported 

with handouts, instructions, and readings. 

ASSESSMENT: 


Assignment : 2500 words, due end of semester 1 50% 

Written Examination: Held at the end of semester 2 50% 

A single in course assignment and a written examination are designed to cover the learning outcomes of 

the module and to test skill development. The assignment will focus on strategic marketing decisions, 

such as the segmentation, targeting and positioning, for a given company. This assignment will be due 

at then end of term 1. The written examination will address the main marketing decision making 

concepts and context (such as NPD, advertising, pricing, etc) and will be held at the end of the spring 

term. Each assessment element will be equally weighted. 

Formative assessment arises from the lab sessions where a range of tutor and peer-driven informal 

assessment provides students with feedback on critical analysis, the application of theory and the 

development of a range of transferable skills. 


The module presents the concepts, methods and applications of decision modelling to address 

marketing issues such as segmentation, positioning, new product design, development and forecasting, 

advertising and promotion planning, pricing and product strategies. The course content will categorize 

decision support systems into two main areas, those that help with strategic dimensions and those that 

assist the development of marketing programmes. Indicative syllabus is as follows: 

Introduction to Marketing decision models 

Segmentation and Targeting process and methods 

Positioning using Perceptual Mapping Techniques 

Tools for Strategic Marketing Decisions 

New Product Decisions 

Advertising and Communications decisions 

Sales force and channel decisions 

Price and Sales promotion decisions 


Best, R. (2005) Market-based Management, International edition, Prentice Hall 

Lilien, G.L. and Rangaswamy, A. (2003) Marketing Engineering, Prentice Hall 

Mullins, J., Walker Jr., O. and Boyd Jr., H. (2009) Marketing Management, A Decision-Making Approach, 

7 th edition, McGraw-Hill Irwin. 

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MICROECONOMIC ANALYSIS 




PROGRAMMES: BSc Econ Accounting and Economics, BSc Econ Economics, BSc Econ 

Economics with a European Language, BSc Economics and Finance, 

BSc Economics and Management Studies, BSc Econ Economics and 

Politics 


The Microeconomic Analysis module aims to: 

• Provide students with an up-to-date understanding of microeconomic analysis at a third year 

undergraduate level 

• Make students aware of the use of microeconomic analysis in understanding the behaviour of 

consumers and producers, and the operation of the economy as a whole 

• Make students aware of more recent microeconomic theory in particular in the areas of game 

theory and uncertainty 

• Give students a firm understanding of issues in dealing with microeconomic policy analysis 

• Enable students to obtain subject specific and core skills which will be of use in further 

education and their future careers 




• be aware of advanced undergraduate microeconomic theory in relation to producers and 

consumers, duality, general equilibrium, game theory, asymmetric information and 

uncertainty 

• be aware of the use of economic analysis to solve economic problems arising in the micro 

economy 

• be aware of the techniques that economists use to solve microeconomic problems 

• have covered sufficient micro theory to proceed to an MSc. course in Economics should they 

wish to do so 


• be able to apply logical analysis to the treatment of microeconomic issues 

• be able to read and understand key articles in journals in the microeconomics area 


• be able to understand and analyse some of the key issues in the micro literature 

• be able to use analytical techniques including mathematical and diagrammatic analysis to 

solve specific microeconomic problems 


• be able to read extensively and to write and present short reports 

• be able to indicate to non-economists what economic thinking would suggest in dealing with 

real economic problems 


Teaching takes place in the Autumn and Spring Semester. There are approximately 36 hours of 

lectures and 16 hours of classes (although extra classes may be put on to deal with more technical 

aspects of the course). 


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ASSESSMENT: 


One 2 hour examination at the end of the Autumn Semester 


The two hour exam (30% of the course mark) is designed to test students’ ability in dealing with 

microeconomic problems and covers the first part of the course (see below). Students will be asked to 

answer a number of questions of a problem-type nature in this exam. The three hour exam (70% of 

the course mark) is then focused on the second and third parts of the course. 


The syllabus is divided into three parts. The first develops students’ understanding of analysis and 

includes the following topics: consumer theory and producer theory using duality, partial equilibrium 

and general equilibrium, welfare economics. The second part covers developments in game theory 

and includes treatment of static and dynamic games, games of complete and incomplete information, 

and provides appropriate solution concepts: Nash equilibrium, Bayesian Nash equilibrium and 

subgame perfect Nash equilibrium. The third part covers the economics of uncertainty and 

information. It will cover expected utility theory, moral hazard and adverse selection, focusing on 

equilibria in signalling, screening and principal agent models. 


Gravelle, H. and R. Rees, Microeconomics, Pearson Education, 2004. 

Jehle, G. A. and P. J. Reny, Advanced Microeconomic Theory, Pearson Education, 2011. 

Osborne, M. J., An Introduction to Game Theory, Oxford University Press, 2004. 

Macho-Stadler, I. and D. Perez-Castrillo, A Introduction to the Economics of Information, 

Oxford University Press, 2001. 

Watson, J., Strategy: An Introduction to Game Theory, Norton, 2002 (2008, 2 nd edition). 

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MODELLING IN MANAGEMENT SCIENCE 




PROGRAMMES: BSc Business Management, BSc Business Management (Human Resources), 

BSc Business Management (International Management), BSc Business 

Management (Logistics and Operations), BSc Business Management 

(Marketing), BSc Accounting and Finance 


The aim of this third-level module is to provide students with a range of predominantly 

probability/statistical based approaches for understanding and modelling real life problems of interest 

to managers, accountants and others concerned with business and commerce. Within the general 

area of management science, the considered problem will include queuing and inventory 

management. 

The intended understanding is to range from the mathematical rudiments of the problems and 

subsequent approaches to model them and the managerial, economic, accounting and/or logistic 

impact any results may have. 




• Construct formal models for a variety of business/management problems. 

• Appreciate how software can pertinently be used in simulation modelling. 


• Understanding the underlying mathematics/statistics employed in the modelling processes of 

business/management problems. 

• Be able to construct a model based solutions to business/management problems. 

C Discipline Specific (including practical) Skills: 

• Practical understanding of the role of simulation modelling for business/management 

problems. 

• Theoretical understanding of the mathematical construction of models. 


• Understanding of the progression from problem formulation to solution identification. 



classes. The lecture program is supported by detailed handouts and subsequent structured reading, 

which strives to challenge and empower students to attempt class questions (closely connected to the 

lecture material). The class work also includes a component of work that utilises software. 

Students are supported through advertised weekly student-lecturer private consultation and e-mail 

student-lecturer contact. 

Indicative study hours - 80 

ASSESSMENT: 


2 hour exam in Spring Semester 

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Models Using Probability 

Queuing Theory 

Introduction to Stochastic Processes 

Markov Chain based models (using matrices). 

Applications: Customer loyalty, Brand switching 

Introduction to Waiting Line Models 

Generalised Poisson Model, Single and Multi channel waiting line models 

Applications: Shop queuing etc. 

Simulation Modelling (Including excel spreadsheets) 

Simulation Model Building (Advantages and Disadvantages) 

Monte Carlo Methods, Managerial Implications. 

Applications: Queuing and Inventory Management Simulations 

Inventory Management (Small use of differentiation) 

Deterministic Models: Economic Order Quantity, Production Lot Size and Backorder 

Models, 

Stochastic Models: Theoretical and Simulation based Models 

INDICATIVE READING LIST 

Anderson, D. R., Sweeney D. J. and Williams T. A., An Introduction to Management Science: 

Quantitative Approaches to Decision Making, Thomson Learning 

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MODERN BUSINESS ENTERPRISE 




PROGRAMMES: BSc Econ Business Economics, BSc Econ Business Economics with a 

European Lanaguage, BSc Econ Economics and Management Studies, 

BSc Econ Accounting & Economics. 


The Modern Business Enterprise module aims to: 

1. provide students with a sound understanding of modern economic approaches to corporate 

organisation and behaviour. 

2. build upon the year 2 modules in Microeconomics and Industrial Economics and explore modern 

explanations of firm behaviour. 

3. introduce students to the information and decision problems facing modern business enterprise, 

and to examine possible solutions. 

4. familiarise students with various elements of corporate economic strategy particularly relating to 

mergers, vertical integration, joint ventures, franchising, and internationalisation and the role of 

these elements in meeting business objectives. 

5. give students an understanding of theoretical and practical perspectives on both the process of 

business growth and the constraints on growth. 

6. encourage through teaching and learning student transferable skills in areas such as data 

collection, analysis and reporting. 




• be aware of the economic theory appertaining to the nature and behaviour of stakeholders 

within modern business enterprise, and be able to analyse and describe the information 

asymmetries occurring between conflicting groups. 

• be familiar with different forms of corporate organisation, and be able to describe how 

different organisational structures come into being and evolve. 

• be able to demonstrate how different information and decision problems in a modern firm 

affect corporate structures. 

• recognise the potential and limits of economic principles as an aid to understanding the 

behaviour of modern business enterprise. 


• be able to apply logical analysis to business economic problems. 

• be able to evaluate strategic economic issues facing modern business enterprise. 


• be familiar and competent to research statistical, textual, and internet sources relating to 

modern industries and their development through time. 

• be able to analyse the economic basis of corporate economic strategy as it relates to areas 

such as internationalisation, restructuring, rationalisation, and general business growth. 


• be read extensively, and be able to collect, organise and analyse data. 

• be familiar with key IT resources for research purposes and to inform classes and assignment 

work. 

• be confident in developing individual ideas, setting personal course goals and schedules. 

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Teaching occurs in the Autumn and Spring semesters. There are approximately 34 hours of lectures 

and 10 hours of classes. Lectures are designed to give students an outline of the core module 

material. Students are encouraged to read around the module topics through a series of key 

readings from texts and journal articles. Classes will focus upon set problems allied to the core 

lecture material. In each class delegated students prepare answers to problems, and deliver an oral 

presentation, with slide support if necessary. Students then answer questions on their topic/problem. 


ASSESSMENT: 



material covered in both semesters 


Comprising 2 essays of 1200-1500 words to be submitted in week 12 

of the Autumn semester and week 9 of the Spring semester 

Successful completion of the continuous assessed work requires students to write up answers to 

essay questions which are based on lectures and class material. Students will demonstrate 

understanding of the theoretical foundations of the course, and they must demonstrate that they 

have researched the topics extensively. A list of core readings appertaining to assignments is 

provided to students at the start of the module. However, students are also encouraged to find their 

own literature sources and develop them, hence developing transferable research skills. The essay 

questions require students to focus and organise their material in a concise piece of work (less than 

1500 words). 

The examination component is a single section, with ten questions. The examination has essay 

questions that cover the whole of the course material. Students choose four questions. The exam is 

designed to test knowledge acquired by students over both the semesters. 


The Modern Business Enterprise module examines modern economic approaches to corporate 

organisation and behaviour. 

The Nature of Modern Business Enterprise and Key Perspectives 

Modern approaches to business organisations in the context of problems with neo-classical 

assumptions. Alternative business objectives and managerial theories of the firm. Neoclassical model 

and theories of economic organisation, factors contributing to market failure, transactions costs 

analysis and alternatives, the price mechanism and coordination within the firm and the market, 

bounded rationality and private information. 

Moral hazard problems, controlling these problems in firms and markets, incentive contracts, and 

organisational design. The control of managerial discretion and the market for corporate control. 

The Structure of Modern Business Enterprise 

The boundaries and structure of modern business enterprise; information problems and links to 

internal structures, U form. M form and hybrid structures, advantages and disadvantages of different 

forms. 

Modern Business Enterprise Structures and Cases 

Multinational enterprise – theoretical perspectives on international firms focusing on transactions 

costs, product cycle and product portfolio approaches. 

Franchising, growth and theoretical perspectives, factors in success and failure of franchising 

agreements. 

Profit sharing firms, worker –owned firms and management buyouts. 

Mergers, takeovers and firm boundaries, competing hypotheses and the market for corporate control, 

corporate governance systems. 

Evolutionary Approaches to Modern Business Enterprise 

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Darwinian and Lamarkian perspectives, organisational ecology, evolutionary theory of economic 

change. Social networks and economic performance. 

The Role of the Entrepreneur 

Contrasting perspectives following the classical tradition. Small firms, enterprise, and policy. 


Milgrom P and Roberts J, (1992) Economics, Organisation and Management, Prentice-Hall Intl. 

Douma S and Schreuder H, (1998) Economic Approaches to Organisations, 2 nd Ed , Prentice Hall. 

Ricketts, M. The Economics Of Business Enterprise 2 nd Edition. Harvester Wheatsheaf. 

McGuigan, Moyer and Harris. Managerial Economics 9 th edition, South Western 

Storey D (1992), Understanding the Small Business Sector. 

Dunning, J. (1993), Multinational Enterprises and the Global Economy. Addison Wesley 

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ORGANISATIONAL ANALYSIS AND CHANGE 




PROGRAMMES: BSc Econ Accounting and Management, BSc Business Management, 



Management (Logistics & Operations), BSc Business Management 

(Marketing), BSc Business Management with a European Language, 

BSc Business Studies and Japanese, BSc Business Management & 

Finance. 


The aim of this third year module is to enable students to develop a critical understanding of key 

approaches to analysing organisations and change. The module will introduce students to a range of 

theoretical perspectives and analytical skills to undertake a critical analysis of contemporary issues in 

organisations. 




• Understand the perspective-based nature of theories of organisation and assess the 

implications for organisational analysis 

• Demonstrate a critical understanding of the main theories used in the management literature 

to analyse and explain organizational processes. 

• Use this knowledge to examine organizations and the events that occur within them. 

• Critically evaluate the ‘usefulness’ of various theories for management and/or other groups in 

organizations. 

• Critically assess a number of theoretical approaches to analysing organisations, using the 

cultural organisational perspective. 

• Consider the usefulness of the cultural organisation perspective in effective organisational 

change 

• Synthesise different theoretical perspectives on culture to analyse issues of gender and 

diversity 

• Apply a range of theoretical frameworks to explain the use of management fads and fashions 

in contemporary organisations 

• Critically examine the relationship between organisational change and workplace identities 

• Critically assess the emergence of new forms of organisations and post-hierarchical 

organisations 

• Evaluate the competing theories of organisation-environment relations 

• Critically evaluate the interactions between ‘home’ and ‘work’ and the implications for 

work/life balance 

• Analyse the role of jokes, irony and humour within organisations. 

• Develop understanding of critical issues in the management of knowledge, including the 

changing roles of professionals and consultants, inter-subjectivity, the process of innovation 

and the contribution of information and communications technology. 


• Apply a range of epistemological and ontological approaches to the analysis of contemporary 

organisational issues 

• Appreciate the implications of contrasting approaches for the analysis of organisations and 

the management of change 

• Present advanced level critical analysis in assessed work and examination answers 


• Demonstrate the ability to undertake critical reflection in the selection and use of various 

perspectives on organisational analysis and change. 

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• Develop and effectively utilise a range of transferable skills in the critical analysis of 

organisations. 

• Develop the skills of critical reflection, creative thinking, effective communication, and the 

giving and receiving of feedback through a range of individual and group based exercises and 

case studies 


The module is formally assessed by one 3000 word essay, submitted at the end of the first semester 

and a three hour exam to be held at the end of the second (final) semester. In the examination, 

students are required to answer three questions, one from the first semester and two from the 

second semester. 

ASSESSMENT: 




One essay of 3,000 words to be submitted in week 12 of the Autumn 

Semester 

In addition, informal forms of assessment are made use of in the tutorials. Here a range of tutor and 

peer-driven informal assessment provides students with feedback on critical analysis, the application 

of theory, and the development of a range of transferable skills. 

The teaching and learning approaches are designed to focus on three areas: content (knowledge), 

context (applying knowledge to ‘real life’ situations) and capability (developing transferable skills). 

Overall, the aim is on challenging assumptions, developing an awareness of context and seeking 

alternative ways of understanding a situation or problem. A number of different learning and teaching 

methods will be used. Formal two-hour lectures will be supplemented by small group (tutorial) 

sessions of two hours duration. The tutorials are designed to be highly participative, drawing on case 

study material, experiential exercises and ‘realistic’ learning situations. The tutorials will provide the 

main arena for critical debate and for the development of critical self-reflexive techniques and other 

transferable skills. 


Ways of knowing, post-modern organisations, professions and organisations, identities, working and 

living, organisation-environment relations, understanding, analysing and implementing change, 

knowledge work and expert work; network organisations; markets, networks and hierarchies; 

professional organisations and change; knowledge work and ICT; innovation and knowledge creation; 

middle management and change, fads and fashions, culture, gendered cultures, humour. 


Alvesson, M. (2002) Understanding Organizational Culture, Sage. 

Grey, C. (2009) A Very Short, Fairly Interesting and Reasonably Cheap Book About Studying 

Organisations, Second Edition, Sage. 

Hancock, P. and Tyler, M. (2001) Work, Postmodernism and Organization, Sage. 

Hatch, M. J. (with Cunliffe, A. L.) (2006) Organization Theory: Modern, Symbolic, and Postmodern 

Perspectives, Oxford. 

Kipping, M. and Engwall, L. (eds) (2002) Management Consulting, Oxford University Press. 

McAuley, J., Duberley, J. and Johnson, P. (2007) Organization Theory: Challenges and Perspectives, 

Prentice Hall. 

Newell, S., Robertson, M. and Scarborough, H. (2002) Managing Knowledge Work, Palgrave. 

Thompson, P. and McHugh, D. (2002) Work Organizations: A Critical Introduction, Macmillan. 

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PUBLIC FINANCE 





Econ Business Economics, BSc Econ Business Economics with a 

European Language, BSc Econ Economics, BSc Econ Economics with 

a European Language, BSc Econ Economics and Management 

Studies, BSc Econ Economics & Politics, BA Economics with 

Humanities, BSc Econ Banking & Finance with a European Language, 


To examine the principles and influences underlying policies on public spending, borrowing and 

taxation and their economic consequences of these policies. 




• understand the economic rationale for the public provision of goods and services and the 

conditions under which these will be efficiently supplied. 

• be able to analyse the static and dynamic effects of various types of taxation and of public 

borrowing 

• be aware of alternative approaches to making public choices 

• display familiarity with a range of relevant analytical techniques 


• the ability to think clearly about public policy. 


• the ability to select appropriate models of economic behaviour to analyse policy issues 


• the ability to think clearly about alternative uses of resources 


Teaching comprises about 40 hours of lectures and 10 classes over two semesters. Students are also 

expected to take substantial responsibility for their own learning experience. 


ASSESSMENT: 




Two pieces of assessed work to be submitted in week 12 of the 

Autumn Semester and week 10 of the Spring semester. 


The welfare theorems, partial and general equilibrium effects of taxation and government spending, 

equity and efficiency in public policy. Provision of public goods and publicly-provided private goods, 

externality problems, club goods, mechanisms of public choice, the size of government, short run and 

long run effects of public policy on the macroeconomy. 


Hindinks, J and Myles, G.D. Intermediate Public Economics, MIT, 2006 

Stiglitz, J.E. The Economics of the Public Sector, Norton, 2000 

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PUBLIC SECTOR ACCOUNTING 







The aim of this module is to provide students with an understanding of the financial reporting, 

management accounting and investment appraisal techniques and practices specifically relating to 

public sector organisations. The module also examines the problems of performance evaluation, 

audit and control of public sector organisations. 




• evaluate the nature of the public sector and the accountability, control and performance 

evaluation of public sector activities 

• describe the theory, practice and regulatory framework of national and international public 

sector financial accounting and reporting 

• describe the use and practice of management accounting in the planning and control of public 

sector activities 

• identify, evaluate and apply the investment appraisal techniques of public sector organisations 

• evaluate critically the role of the audit function and in particular ‘value for money’ auditing in 

the public sector 

• evaluate critically the accounting implications of the changing nature of the public sector 


• synthesise and evaluate data 

• exercise powers of inquiry and critical analysis, interpretation and evaluation of arguments and 

evidence 



• critically revaluate the process of accountability, control and performance evaluation of the 

public sector 

• compare and contrast different management accounting and budgetary control practices used 

in the public sector 

• develop a critical understanding of the theory, practice and regulatory framework of 

government accounting and reporting 

• critically evaluate the accounting implications of the changing nature of the public sector 

• critically evaluate the investment appraisal techniques used in the public sector 

• appreciate the importance of the role of the audit function and ‘value for money’ in the public 

sector 



• communicate ideas, principles and theories effective by written means and by class 

presentation 

• appreciate alternative viewports 

• access and utilise data by use of the library and by IT (internet etc) 


The module comprises 17 lecture hours and 5 hours of classes. The lectures programme is supported 

by detailed handouts and subsequent structured reading of specific public sector accounting texts as 

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well as major academic articles. Each aspect of the syllabus comprehensively covered in one or more 

lectures and is supported by class exercises which requires a discussion by students of the issues 

involved and where appropriate, the solution of a numerical exercise based on the techniques 

covered in the lecture. Case studies are also used to illustrate major issues and to reinforce learning 

activity. Students are supported throughout the module through the weekly student-lecturer office 

hours, revision sessions and by e-mail contact. 


ASSESSMENT: 


One 2 hour exam at the end of the Spring Semester. The 

examination questions contain a range of questions that are designed 

to cover the learning outcomes for the module and to test the critical 

and analytical skills of students. 


The distinction between the private sector and other sectors of the economy with emphasis on the 

objectives and techniques of financial accounting, financial reporting and accountability. The aims, 

objectives and mechanisms of public sector auditing. The measurement of performance. Investment 

appraisal, budgeting, planning and control for public sector organisations. The accounting 

implications of the changing nature of the public sector. 


Jones and Pendlebury, Public Sector Accounting, 5 th Edition, 2000 

Coombes & Jenkins (2002), Public Sector Financial Management, Chapman and Hall 

Rutherford, Sherer and Wearing, Cases in Public Sector Accounting, PCP, 1992 

Henley, Likierman, Perrin, Evans, Lapsley and Whiteoak, Public Sector Accounting and Financial 

Control, 4 th Edition, Chapman and Hall 

Glynn, J, Public Sector Financial Control and Accounting, 2 nd Edition 

Rutherford, B A, Financial Reporting in the Public Sector 

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SECURITY ANALYSIS & PORTFOLIO MANAGEMENT 




PROGRAMMES: BSc Accounting & Finance, BSc Econ Economics & Finance, BSc 

Business Management & Finance 


The Security Analysis & Portfolio Management module is designed to provide students with an 

understanding of the theory and practice of security analysis and portfolio management and 

performance measurement 




• show a systematic knowledge of the concepts underlying investment decisions. 

• show a systematic knowledge of, and critically evaluate, portfolio theory and the Efficient 

Markets Hypothesis and their implications for portfolio management and security analysis. 

• show a systematic knowledge of a range of different types of bonds and equities and of the 

operations of the markets on which they are traded. 

• show a systematic knowledge of, and critically evaluate, pricing models for bonds and 

equities. 

• show a systematic knowledge of, and critically evaluate, technical analysis and fundamental 

analysis. 

• show a systematic knowledge of, and critically evaluate, portfolio management strategies and 

performance measures for both bond and equity portfolios. 









• measure and evaluate the returns on, and risks of, different types of bond and equities. 

• price bonds and equities using a range of appropriate pricing models. 

• apply the techniques and methods of portfolio management for both bond and equity 

portfolios. 

• measure the performance of investment portfolios using a range of performance measures. 









The formal timetabled component of the module comprises approximately sixteen lectures and six 





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Students are supported throughout the module through private consultation with the module 

coordinator. 


ASSESSMENT: 


One 2 hour examination at the end of the spring semester 



outcomes. 






Review of portfolio theory & capital market equilibrium. Equity analysis and equity portfolio 

management: types and characteristics of equities; measures of equity performance; pricing equities, 

equity portfolio management – active and passive management strategies. Bond analysis and 

portfolio management: market structure; bond prices yields and returns; bond risks; bond portfolio 

management - active and passive strategies. Portfolio performance measurement: objectives and 

components of performance measurement; equity portfolio performance measures; bond portfolio 

performance measures; evaluation of performance measures; evidence on portfolio performance. 

International diversification: returns and risks of international investment; evidence on the 

performance of internationally diversified portfolios. 


Blake, Financial Markets Analysis, 2 nd Edition, Wiley, 2000 

Cuthbertson & Nitzsche, Investments: Spot & Derivatives Markets, 2 nd Edition, Wiley, 2008 

Haugen, Modern Investment Theory, 5 th Edition, Prentice Hall, 2001 

Elton, Gruber, Brown & Goetzmann, Modern Portfolio Theory & Investment Analysis, 8 th Edition, 

Wiley, 2011 

Bodie, Kane & Marcus, Investments, 8 th Edition, McGraw-Hill, 2009 

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SERVICES & RELATIONSHIP MARKETING 



SEMESTER Autumn & Spring 

PROGRAMMES BSc Business Management, BSc Business Management (Human 


BSc Business Management (Logistics and Operations Management), 

BSc Business Management (Marketing), BSc Business Management 

with a European Language, BSc Business Management & Finance. 


This module aims to broaden students’ understanding of marketing beyond that of the traditional 

marketing mix approach. It is intended that this course will offer a specialised advanced level module in 

the areas of services and relationship marketing. 

The module aims to show how service and relational approaches are increasingly becoming the 

preferred marketing model. This is facilitated by demonstrating progression from the traditional 

marketing mix and services marketing towards an alternative marketing paradigm. Subsequently, a 

practical approach is used to show how services marketing and relationship marketing are used in the 

business environment. Further strategic developments in marketing are also reviewed, for example 

customer relationship management, loyalty and experience marketing. 




• Understand the theoretical underpinnings of services marketing and relationship marketing. 

• Understand service markets, products and customers 

• Understand the application of these approaches to a variety of environmental contexts 

• Understand the tools and skills necessary for the successful implementation of both services 

marketing and relationship marketing strategies. 


• Analyse and evaluate marketing and management issues arising from the services marketing 

and relationship marketing approaches 

• Critically analyse various contrasting theoretical and practical approaches to services marketing 

and relationship marketing. 


• Be able to apply principles of services marketing and relationship marketing to appropriate 

services and environments. 

• Develop relational marketing programmes using a range of facilitating interactive media. 


• Be able to construct a balanced and valid argument within a given context. 

• Develop a range of presentation and report writing skills appropriate to the business 

environment. 

• Be aware of wider social issues involved with new business practices. 


44 hours of classes per student will be provided. These include a number of lectures and small group 

sessions. 

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ASSESSMENT: 

Assessment will be via an individual assignment and an examination. 

The assignment will be designed to explore students’ understanding of and ability to apply and evaluate 

concepts and approaches presented to them in the module. 

The examination assesses student understanding of, and ability to use and apply, a both services and 

relational approaches to marketing. They will also be examined on their understanding of marketing 

theory in these areas. 




To be submitted in week 11 of the Autumn Semester. 

SYLLABUS CONTENT 

The development of marketing from the traditional marketing mix with an emphasis on services 

marketing and relational marketing. 

Understanding service markets, products and customers. 

The service-dominant logic perspective. 

The Servicescape 

Managing people in a services and relationship marketing environment. 

Service failure and service recovery. 

Origins and theoretical underpinnings of Relationship Marketing. 

The facets of successful marketing relationships. 

The Relationship Marketing model. 

Relationship and Loyalty Marketing in practice. 

Relationship maintenance and dissolution. 

INDICATIVE READING LIST 

Lovelock, C, J Wirtz and P Chew (2009) Essentials of Services Marketing, Pearson: Singapore 

Zeithaml, V, Bitner, MJ and Gremler, G (2005) Services Marketing 4e, McGrawHill 

Egan, J (2008) Relationship Marketing: Exploring Relational Strategies in Marketing, Pearson: Harlow 

Evans, M, O’Malley L and Patterson M (2004) Exploring Direct and Customer Relationship Marketing, 

Thomson Learning 

Sheth, J and Parvatiyar, A (2000), Handbook of Relationship Marketing, SAGE: Thousand Oaks 

Journal of Services Marketing 

Journal of Services Research 

Journal of Database Marketing 

Journal of Interactive Marketing 

Journal of Relationship Marketing 

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STRATEGIC MANAGEMENT 




PROGRAMMES: BSc Econ Accounting and Management, BSc Econ Banking & Finance, 

BSc Econ Business Economics, BSc Business Management, BSc 

Business Management (Human Resources), BSc Business 


Management (Logistics & Operations), BSc Business Management 

(Marketing), BSc Business Studies and Japanese, BSc Econ 

Economics & Management Studies, BSc Business Management with 

a European Language, BSc Business Management & Finance. 


The aim of the module is to develop an understanding among students of the new realities of 

contemporary business strategy by examining important issues that corporate strategists have to 

acknowledge and anticipate in order to compete successfully in the current business environment. 




• Display knowledge and understanding of the core strategic management concepts both at a 

macro and micro level, and of their application within contemporary business. 


• Analyse key micro/macro level issues and their implications for strategic management. Such 

issues include effective decision making, the management of change, developing and 

managing learning, and knowledge, strategic alliances, and corporate governance. 


• To debate the validity of theories based around competitive advantage and understand the 

implications of the internal and external views of the firm and to recognise the overlap 

possible across these two perspectives. 

• To investigate models of change management and understand the implications for the use of 

power and politics within organizations. 

• To examine the trend of collaborative strategies such as strategic alliances and joint ventures 

as a growth strategy for organisations, exploring current approaches and key success factors. 

• To assess the importance of mergers and acquisitions for companies in today’s dynamic 

environments and develop awareness of managing the acquisition and merger process. 


• To apply an understanding of Strategic Management theory to solve practical problems in an 

industrial context. 

• To assess strategic management concepts and corporate strategies from the perspective of 

the key themes discussed in the module. Develop analytical skills from case study analysis. 

Develop group working skills. 

• To debate the validity of theories based around the pursuit of competitive advantage, and to 

discuss the significance of concerns about the sustainability and responsibility of businesses 

to their various stakeholders. 


The formal timetabled component of the module comprises 44 hours (40 hours lectures and 4 hours 

seminars) in Semesters 1 and 2, supported by on-line learning resources. Lectures are supported by 

handouts and students are directed to consolidate and expand their learning through structured 

reading. This is detailed in the syllabus for each key theme of the module. Journal articles in each 

subject area are utilised in class to highlight recent developments. The opportunity is also taken in 

the lectures to use a variety of media such as videos and demonstrations of specific examples of new 

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information technology. Seminars are used to consolidate knowledge on several of the key themes 

covered in the module via case study analysis. 


ASSESSMENT: 


One 3 hour examination at the end of Spring Semester 


One essay based assignment of 1500 words to be submitted at the 

beginning of December 

20% 

One report based assignment of 1500 words to be submitted in 

February 

Formal: 

Two in-course assignments of 1500 words each. The first essay based assignment will allow students 

to apply some of the theory they have covered in phase one of the module. The second assignment 

will be of a report style format and will allow the students to demonstrate application of the theory 

covered across phases one and two using an industrial context. 

One three-hour examination, where students are required to answer three questions. The 

examinations contain a range of questions designed to cover all the learning outcomes for the module 

and to test skill development. Emphasis is placed on testing students’ application of knowledge in 

particular contexts and their ability to critically assess and synthesise the knowledge obtained from 

the module as a whole. 


The module addresses key areas of strategy. The external view reflects the position of an 

organisation in its industry. The internal view covers the internal resources and competencies of the 

organisation. Each of these two areas contributes to understanding the sources of advantage for an 

organisation. Mergers and acquisitions focuses on a key area of strategy implementation while 

decision making and organisational change looks at the process and management of strategy 

implementation. Corporate governance considers the responsibility of the organisation to its 

stakeholders and also considers issues of strategic control. 


Strategic Management Competitiveness and Globalization. Volberda et al (2011). Cenga 

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STRATEGIC SUPPLY MANAGEMENT 




PROGRAMMES: BSc Business Management, BSc Management (International 

Management), BSc Business Management (Logistics & 

Operations). 


The strategic management literature suggests that effective supply chain management offers 

enormous potential to unlocking competitive advantage. This module explores specific supply 

management strategies for tapping that potential, providing students with a broad-based 

understanding of the factors, mechanisms and processes relevant to establishing and maintaining 

effective supply chain management and improvement. In doing so, this module builds on students’ 

knowledge developed in BS2541 Purchasing and Supply Chain Management. 

The module content has also received recognition by the Chartered Institute of Purchasing and 

Supply (CIPS)’s. Students who successfully complete this module as part of the BSc Business 

Management (Logistics & Operations) pathway, will gain accelerated entry to (CIPS) level 6, should 

graduates later wish to pursue CIPS professional qualifications. 


On completion of the module a student should be able to; 


• Identify and evaluate a range of world-class techniques for performance improvement. 

• Appraise key logistics concepts, both traditional and contemporary 


• Critically appraise the role of supply management within the supply chain as a vehicle for 

achieving competitive advantage. 

• Demonstrate analytical and written communication skills by presenting their arguments 

clearly and concisely in written form in accordance with appropriate scholarly conventions in 

assessed work and in response to examination questions. 


• Analyse the strategic factors that impact the planning, policy formation and effectiveness of 

supply chain management. 

• Critically appraise the application of world class performance improvement techniques. 


• Develop analytical, communication and learning skills through workshops and seminars. 

• �Develop critical ability in the interpretation of empirical evidence. 


The module comprises 44 hours of lectures and tutorials spread over two semesters. 

Teaching methods will involve a combination of formal lectures which includes some sessions 

delivered by industry experts and visiting academics. More informal tutorial sessions are designed to 

encourage discussion and participation. Students will be encouraged to explore the application of 

concepts learned through the use of contemporary case studies. Indicative study hours: 160 

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ASSESSMENT: 

Formal assessment consists of two key elements: examination and continuous assessment. 

Examination content 60% 

A three-hour examination at the end of the Spring 

semester. 


A written assignment of 4000 words to be submitted 

in the Spring semester. 

Formal assessment consists of two key elements: examination and continuous assessment. 

Examination content (60%): a three-hour examination at the end of the Spring semester. The 

examination is designed to cover the learning outcomes for the module and to test skill development. 

Questions are set not only to test students’ basic comprehension of the syllabus but also their ability 

to apply such knowledge in particular contexts. 

Continuous assessment (40%): the continuous assessment coursework consists of one written piece 

of 4000 words, presented as a formal report. This will assess the students’ ability to solve complex 

problems relating to supply management in a systematic manner. 

Informal assessment is provided through tutorials in which students are required to work in teams to 

tackle problems presented through case studies and to formally feedback their collective view. 


The context of supply chain management; World-class performance improvement techniques; 

Strategic supply commercial relationships; Key inhibitors to supply chain integration; Change 

management within the supply chain; Risk Management; Environmental Considerations; Lean and 

Agile Philosophies. 


Lysons, K.Farrington, B (2006) Purchasing & Supply Chain Management.7th Edn. FT. Pearson 

Cousins, P., Lamming, R & Lawson, B (2009) Strategic Supply Management: Principles, Theories and 

Practice. FT. Pearson 

Hines P., 2004, Creating World-Class Suppliers, FT. Pitman 

Womack J., Jones D. and Roos D., 1990, The Machine That Changed The World, Maxwell Macmillan 

Given the advanced nature of the module, students are expected to make use of relevant journals: 

Journal of Purchasing and Supply Management 

Journal of Business Logistics 

Supply Chain Management: An International Journal 

Supply Management: CIPS 

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THE ACCOUNTING PROFESSION 







The aim of the module is to provide final year students in accountancy with critical insights to the 

profession they may enter or are likely to engage with during their careers. The course looks beyond 

the technical knowledge and skills acquired in earlier accounting modules to focus on the 

professionals who apply that knowledge and skill as members of professional organisations working in 

accountancy firms, industry and the public sector. The inclusion of subjects such as ethical decision 

making adds a vocationally relevant dimension to the module. The module is designed to offer 

historical and contemporary insights to issues such as: the problematic organisation of the 

accountancy profession; the power of accountancy firms; the changing scope of professional work; 

shifting boundaries with other professions; the accountancy profession in the global economy; 

exclusion from the profession on the basis of class, gender and race; diversity; the ‘problem’ of the 

accountant stereotype; threats to accounting professionalism; and challenges to professional ethics. 



Knowledge and Understanding: 

• Describe the principal theories which seek to explain and interpret professionalisation 

projects. 

• Relate the structure and development of the accountancy profession in the UK. 

• Understand the importance of recruitment and socialisation processes to the construction of 

the professional accountant. 

• Comprehend the significance of class, gender and ethnicity as barriers to recruitment and 

career building in the accountancy profession. 

• Analyse the changing patterns of professional work in accountancy and interfaces with other 

professions. 

• Assess the impact of commercialisation on accounting professionalism. 

• Evaluate the changing nature of professional ethics in accountancy. 

• Understand the significance of globalisation to the development of the international 

accountancy profession. 

Intellectual Skills: 

• Identification and utilisation of relevant information 

• Analysis of qualitative data 

• Critical evaluation and interpretation of information 

• Synthesising and communicating findings 

• Problem identification and solving 

Discipline Specific (including practical) Skills: 

Critical awareness of: 

• Behaviour of accountants, accounting firms and professional organisations 

• Composition and application of accountancy practice 

• Contexts in which professional work is conducted 

• Ethical decision making 

• Nature of accounting professionalism 

• Inter-professional boundaries 

Transferable Skills: 

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• Independent learning skills 

• Interpersonal communication skills 

• Organisation skills 

• Research skills 

• Analytical skills 

• Synthesising skills 

• Empathy skills 

• Written and oral communication skills 


The teaching will be research led, drawing on the expertise of members of staff in the accounting and 

finance section in this field. The emphasis will be on teaching and learning through the use of 

qualitative material. 

Lectures: 17 hours 

Lectures will introduce each topic (supported by handouts) and form a base from which students will 

be encouraged to read widely, drawing heavily on academic journal articles. Students will also be 

encouraged to access professional journals on past and current issues. 

Classes: 5 hours 

Classes will focus on critical discussion of issues drawn from the academic and professional literature. 

The emphasis will be on student participation through presentations, case analysis and role playing. 

The classes will provide opportunities for both individual and group work. 

ASSESSMENT: 

In accord with other 10-credit third year accounting modules the assessment will comprise a two hour 

examination. 

The examination will comprise six qualitative questions from which three will be answered. The 

questions will be designed to test the knowledge and understanding of students in the areas related 

above, as well as students’ skills of interpretation, synthesis, problem solving and critical analysis. 


The syllabus will comprise the following in historical and contemporary contexts: 

1. Introduction to professions and the accounting profession 

2. Professionalisation of accounting. 

3. Recruitment, socialisation and professional identity. 

4. Gender and the accounting profession. 

5. Race, ethnicity and the accounting profession. 

6. Accountancy work and inter-professional jurisdictions. 

7. Professional ethics. 

8. Commercialisation, globalisation and professionalism. 

9. Deprofessionalisation or new professionalism. 

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Abbott, A. (1988) The System of Professions. Chicago: Chicago University Press. 

Annisette, M. (2003) ‘The colour of accountancy: examining the salience of race in a 

professionalisation project’. Accounting, Organisations & Society 28 (7-8): 639-674. 

Anderson-Gough, F., Grey, C. and Robson, K. (2005) ‘’Helping them to forget’ the organizational 

embedding of gender relations in public audit firms’. Accounting, Organisations & Society 30 (5): 469- 

490. 

Arnold, P. (2005) ‘Disciplining domestic regulation: the World Trade Organization and the market for 

professional services’. Accounting, Organisations & Society 30 (4): 299-330. 

Bougen, P D. (1994) ‘Joking apart: the serious side to the accountant stereotype’. Accounting, 

Organizations and Society, 19: 319-335. 

Hammond, T. (2003) A White Collar Profession: African American Certified Public Accountants since 

1921. University of North Carolina Press. 

Hanlon, G. (1994) The Commercialisation of Accountancy. Basingstoke: Macmillan. 

ICAS (2004) Taking Ethics to Heart. Edinburgh: ICAS. 

Kirkham, L.M. and Loft, A. (1993) ‘Gender and the construction of the professional accountant’. 

Accounting, Organisations & Society 18 (6): 507-558. 

Matthews, D., Anderson, M. and Edwards, J.R. (1998) The Priesthood of Industry. The Rise of the 

Professional Accountant in British Management. Oxford: OUP. 

Walker, S.P. (1996) ‘The criminal upperworld and the emergence of a disciplinary code in the early 

chartered accountancy profession’. Accounting History 1 (2): 7-36. 

Walker, S.P. (2004). ‘The genesis of professional organisation in English accountancy’. Accounting, 

Organisations & Society 29 (2): 127-156. 

Willmott, H. (1986). ‘Organising the profession: a theoretical and historical examination of the 

development of the major accountancy bodies in the UK’. Accounting, Organisations & Society 11 (6): 

555-580. 

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WORK AND EMPLOYMENT 




PROGRAMMES: BSc Econ Accounting and Management, BSc Econ Banking and 

Finance, BSc Business Management, BSc Business Management 

(Human Resources), BSc Business Management (International 

Management), BSc Business Management (Logistics and Operations), 

BSc Business Management (Marketing), BSc Business Management 

with a European Language, BSc Econ Business Economics, BSc 

Business Studies and Japanese, BSc Econ Economics and 

Management Studies. 


To develop a critical knowledge and understanding of the changing content, management and 

experience of work in contemporary industrial society. 




• Demonstrate knowledge and understanding of the different ways of analysing work skills in 

the social sciences and evaluate the debate over the changing nature of skill with reference 

to the knowledge economy. 

• Demonstrate an understanding of the concept of emotional labour and its relevance to the 

contemporary workplace. 

• Display an understanding and ability to critically review debates in sociology about the nature 

of control and consent within the ‘new’ workplace. 

• Demonstrate knowledge and understanding of the debate over worker responses to 

contemporary management practice. 

• Understand the importance of time in the overall experience of work and assess the 

approaches of management and workforce to working time issues. 

• Assess the importance of workers’ collective representation within the workplace. 

• Assess the components and importance of ‘hidden’ work and its relevance to work in the 

formal sector. 

• Assess the changing nature of careers in contemporary society. 

• Demonstrate a knowledge and ability to evaluate critically current theories of the future of 

work 

B. Intellectual Skills: Analysis/Synthesis/Evaluation 

• Make use of lectures, tutorials, assignments and independent study to acquire knowledge and 

understanding of theories and research findings on the changing nature of work in 

contemporary societies. 

• Develop a critical understanding of theory and debate over the nature, experience and 

development of work. 

• Develop a capacity to apply social theory to the analysis of work in capitalist societies. 


• Develop a knowledge of sociological and management theories of work and their relevance to 

the analysis of changes in work in contemporary society. 

• Develop a capacity to read, evaluate and synthesise original research of both quantitative and 

qualitative forms produced by researchers in the field of work sociology 


• Develop the ability to interpret research data produced in the social sciences. 

• Develop a capacity to communicate orally through participation in tutorial debate and other 

exercises 

• Develop a capacity to synthesise research data and write assignments to communicate ideas, 

knowledge and arguments. 

• Work individually through guided study and make use of lectures, tutorials, reading lists, 

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websites and assignments to develop knowledge of work sociology. 

• Work in groups in problem-solving and other activities within tutorials. 

• Make use of word-processing other software to generate assignments. 


The module is delivered through 32 hours of lectures, delivered over two semesters. The lectures 

provide a range of theoretical perspectives and practical illustrations relating to themes and debate 

over the nature of the contemporary workplace. Examples used are drawn from the lecturers’ current 

research. Students are provided with a list of reading and journal titles relevant to the subject area 

and are required to undertake self-directed study. 

The lectures are supported by 12 hours of tutorials. The latter reflect the main themes in the module 

and are based around carefully selected, appropriate reading. It is a requirement that students 

prepare for tutorials through reading and debate and discuss themes. There is an emphasis on 

student participation with tutors acting as facilitators. 


ASSESSMENT: 


One 3 hour examination at the end of the Spring Semester. 


One essay of 3000 words to be submitted in week 1 of the Spring 

Semester 

Assessment combines an end-of-module examination and an individual written assignment of 3000 

words. 

The examination requires students to answer three questions; one related to work covered in 

semester one and two related to work covered in semester two. It provides for summative 

assessment and requires students to display subject relevant knowledge and understanding and the 

intellectual skills of analysis, synthesis and argument. 

The individual assignment provides both summative and formative assessment, covering detailed 

knowledge and understanding of a specific aspect of the module subject matter and intellectual, 

discipline-specific and transferable skills, including the capacity to gather and interpret research 

material and present it in a communicable form. The assignment relates to the material delivered in 

semester one of the module. It requires students to search for and identify relevant research material 

and demonstrate a critical understanding of theoretical interpretations of the changing nature of 

work. Formative assessment is provided for through the use of assessment criteria, which are 

communicated to students and discussed prior to the work being completed. Feedback is provided on 

a group and individual basis using these same criteria. 


Syllabus content focuses on contemporary debate and research on the nature of work and 

employment. Themes include: the meaning of work; content of work, including skills, knowledge work 

and emotional labour; the organisation of work, including the organisation of working time, the 

representation of collective interests and the relationship between the formal and informal economy; 

the management of work, including new forms of control and strategies to elicit consent; responses 

to work, including survival strategies and resistance; the future of work, including theories of work 

futures and the changing nature of careers. 

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Module Catalogue - Year 3 - Cardiff Business School - Cardiff ...

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