PROGRAMME SUMMARY

Course code Module Credits   PART I   CBA 5101 Financial Markets and Regulation 18 CBA 5102 Financial Econometrics 18 CBA 5110 Risk Management and Corporate Governance 18 CBA 5109 Bank Operations and Strategy 18 CBU 5106 Marketing of Financial Services 18 Part I Total Credits 90   PART II   CBA 5212 Corporate and Investment Banking 18 CBA 5215 Applied Treasury Management 18 CBA 5213 Central Banking and Monetary Economics 18 CBA 5216 Financial Economics 18 CBA 5217 Applied Research Methods 18 Part II Total Credits 90   PART III   CBA 5301 Financial Modelling 18 CBA 5302 Financial Engineering 18 CBA 5303 Applied International Banking and Finance 18 CBA 5304 Strategic Financial Management 18   ELECTIVE MODULES [SELECT ONE]   CBA 5305 Development Finance 18 CBA 5306 Applied Bank Lending 18 Part III Total Credits 90   PART IV   CBA 5400 Dissertation 90   Part IV Total Credits 90 Overall Credits for the Programme 360

 

COURSE SYNOPSES

 

CBA 5101 - Financial Markets and Regulation                                                                    18 Credits

The aim of this module is to provide a strong foundation for an understanding of financial markets and the main types of securities traded in these markets. The module will focus on money and capital markets products, futures, swaps and options. The module will strike a balance between the theoretical paradigms and the empirical literature, and the important links between theory and the real world. The emphasis will be on both principles and problem solving. The course focuses both on quantitative and conceptual foundations. It looks at a number of regulatory issues: why and how regulation takes place and the role of the Basel Codes Framework in bank regulation and supervision. Examination of practical issues of risk management in Regulatory issues are addressed, with attention paid to both ‘on’ and ‘off’ balance sheet positions.

 

CBA 5102 - Financial Econometrics                                                                                  18 Credits

 

The aim of this module is to explain how econometric methods can be used to learn about the future behaviour of the prices of financial assets by using the information in the history of asset prices and in the prices of derivative securities. The specific objectives of the course are to, introduce a range of statistical techniques and indicate criteria by which one might judge the appropriateness of each method, identify the decision situation in a problem, formulate and solve econometrics problems and formulate and solve multi-stage problems. The following shall be covered, linear regression, multiple linear regression, qualitative response regression models, panel data regression and time series analysis, etc. Emphasis will also be put on the ability of students to interpret the statistical results and ability to make decisions based on the results.

 

CBA 5110 - Risk Management and Corporate Governance                                                 18 Credits

                                   

This module covers issues of the ownership, control and accountability and risk management in financial institutions. It raises some key issues: for example, in the context of a corporation, how should the interests of directors, shareholders, employees and other stakeholders be prioritized and how can these interests be expressed, aligned and reconciled? Identification, measurement and management of financial risks such as market risk, credit risk and operational risk shall also be covered in line with the requirements of the Basel Accords.

 

CBA 5109 - Bank Operations and Strategy                                                                        18 Credits

 

This module aims to detail general and strategic management issues and how they affect banking and operations of other financial institutions. The course covers the evolving structure of financial institutions and balance-sheet analysis. Furthermore, the course also looks at operations in more detail, e.g. managing liquidity and liabilities, asset management – the consumer lending decision and the business lending decision, and loan sales and securitisation. Finally, the course analyses how financial institutions create value through marketing, distribution, diversification and innovation. Analysis of the effects of microeconomic and macroeconomic policies on bank performance is also central in this course.

 

CBU 5106 - Marketing of Financial Services                                                                       18 Credits

                                                           

This examines the nature and uniqueness of financial services and examines those aspects of marketing that present particular challenges for marketers of such services. Focus will be given on product assortments, service quality and development of relationships in the financial services sector.

 

CBA 5212 - Corporate and Investment Banking                                                                  18 Credits

 

This module aims to develop an advanced understanding of the theory and practice of corporate and investment banking. It provides students with an insight into the major features of the banking business and a framework for the understanding of the different activities of these two major functions found in any financial institution. The first part of this module will examine the changing business characteristics of the corporate banking while the second part will focus on the main operations of investment banks. The module shall also have a global investment banking slant.

 

CBA 5215 - Applied Treasury Management                                                                        18 Credits

 

This module is concerned with how the Treasury function operates in both financial and non-financial environments. The key objective of the module is to equip students with an understanding of a wide range of theoretical financial concepts, tools and techniques as applied to treasury activities, including the key functions of an Active Treasury Department and latest trends in Treasury Management. The module covers concepts such as the trade-off between risk and return, asset allocation, and security analysis in the investment management process. It further examines the design and implementation of formal performance measurement and management control systems in a business set up particularly the banking institution. Further to that, the module synthesizes the theory and practice of treasury management.

 

CBA 5213 - Central Banking and Monetary Economics                                                       18 Credits

 

This module provides students with a thorough understanding of monetary theory, the effects of monetary policy (variables) on the macroeconomic system. The theoretical and empirical underpinnings of the monetary policy analysis, the role of the Central Bank and the conduct of monetary policy in closed and open economies will be covered in detail. Critical issues such as macroeconomic stabilisation programmes, central bank independence and governance shall be covered.

 

CBA 5216 - Financial Economics                                                                                      18 Credits

 

This module aims to cover the main areas in advanced multinational corporate finance namely: the corporate investment decision, the financing decision, term structure of interest rates, pay out policy, corporate bankruptcy, venture capital, mergers and acquisitions. A key objective of the module is to demonstrate the link between those various decisions and areas; in particular, exploring how the firm’s financing, investment and pay out policies interact with each other and how those decisions have implications for corporate bankruptcy and takeovers.

 

CBA 5217 - Applied Research Methods                                                                             18 Credits

 

This module shall be examined entirely by coursework. Students will be required to submit an acceptable research proposal at the end of the module. It covers a wide range of topics related to the conduct and management of postgraduate research studies in Banking and Finance. It includes an analysis of the application of key research tools and methods in attempting to seek practical answers/explanations to develop scenarios. The module therefore covers development of successful research proposals, research resource management, conducting fieldwork, the logic and structure of theses, quantitative and qualitative methods, referencing techniques and research ethics. This should not only guide students in preparing for their fieldwork for dissertations, but also help them systematically address problems in their communities.

 

CBA 5301 - Financial Modelling                                                                                        18 Credits

 

The module involves the financial use of computer software packages to model corporate finance problems such as: Operating Budgets, Capital Budgeting, Decision Tree Analysis, Sensitivity Analysis, Computer Simulations, Business and Securities Valuations.

 

CBA 5302 - Financial Engineering                                                                                    18 Credits

 

The module examines, in more detail, and including practical case studies, the types, uses and valuation of derivative products and the derivation of synthetic instruments for the purpose of hedging, speculation or arbitraging and also looks at the regulatory environment for these derivative products. The module also looks at latest developments in innovative Corporate Finance issues such as option embedded issues, swaps, etc.

 

CBA 5303 - Applied International Banking & Finance                                                          18 Credits

 

This module aims to provide an overview of the activities and risks involved in managing Commercial Banks, Investment Banks, International financial institutions and Multinational corporations.  The module creates a deeper understanding of the International financial environment by covering topics that comprise of the International flow of funds, International financial markets, Exchange rate determination, parity relationships and International arbitrage.  The Euromarkets and International bank regulation are also covered extensively.  The module further divulges into the derivatives market and instruments traded thereon with a great emphasis on currency derivatives.  Emphasis is placed on how this market and its instruments can be used to manage exchange rate risk.  The principal types of risks covered in this module are Translation, transaction and economic exposures.  The importance of long term asset and liability management is an important aspect that is also included areas covered include: Foreign direct Investment, multinational capital budgeting multinational restructuring and country risk analysis.

 

CBA 5304 - Strategic Financial Management                                                                      18 Credits

                                                           

This module aims to assess and evaluate the value of the firm under different financial and managerial structures. It gives students the ability to understand and determine how investors interpret various financial arrangements such as dividend policy, taxes, and stock offerings. Specific attention will be paid to information and incentives of each party in a financial contract in the context of structuring the firm, running the firm efficiently, and if all else fails, bankruptcy. It addresses the universal challenges related to different sources of funding/financing and reporting. In addition, discusses tactical issues of importance to firms including disaster recovery, distribution management and preparing for exist.

 

CBA 5305 - Development Finance (Elective)                                                                      18 Credits

                                                                       

This module covers all aspects of the role of finance in development, including the theories underpinning development finance, enterprise-level development finance and sustainable growth.  The module is policy oriented and would equip students with a broader understanding of development finance and its interaction with Government’s macroeconomic policies. Module coverage shall also include small to medium enterprises financing, infrastructure financing etc.

 

CBA 5306 - Applied Bank Lending (Elective)                                                                     18 Credits

                                                                                   

This module seeks to explain the general principles of lending, propose a structured approach to the evaluation of loan proposals, and draw decisions there from. The concept of lending will therefore be identified as a strategic factor. Coverage will include credit assessment, principles of security, interpretation of financial statements, bad and doubtful debtors, and their control. Attention will be paid to the identification, measurement and financing of risk, including objective and subjective, risk analysis, predicting corporate bankruptcy etc.

 

CBA 5400 - Dissertation                                                                                                  90 Credits

 

The final module on the MSc programme is the dissertation, researched and written over at least four months from February to July. This is a substantial piece of independent work applying research techniques and relevant economic theory to a research topic. This can be an area which has attracted attention in the course of studies, or may be linked to an aspect of professional working experience. A topic is chosen during Part II and an appropriate member of the academic staff who acts as a supervisor is then assigned to give the student guidance on the structure and content of the research. The dissertation should be at least 20 000 words long (excluding preliminary pages and appendices). In preparation for the research, a Dissertation Seminar is held, which is designed to equip students with the necessary research techniques and analytical tools. Student attendance at the Seminar is compulsory.