Globalisation and Financial Crises

Globalisation and Financial Crises
Module Introduction
This module is currently a core offering to full-time students on the MSc in International Business with Financial Services, MSc Accounting and MSc in Banking and Finance degree programmes.

Module Synopsis
This module introduces students to the range of influences on globalised financial markets and the impact of market failure upon businesses and the macro-economy. In particular the module will combine theory and policy with an analysis of financial crises within a global context.

Learning Strategy
Generally, a one hour lecture will be accompanied by a one hour tutorial per week. Lectures will provide students with essential insights into the global financial environment, including associated theoretical underpinnings. Weekly seminars will allow students to present material for discussion and extend students’ knowledge of theory and its relation to practice. Case studies will be used to facilitate understanding.

Tutorials will also require students to demonstrate skills and competencies outlined above and to discuss relevant issues learnedly and confidently via group situations. Presentation and oral communication skills will be honed in tutorials.

Learning Outcomes
Knowledge and Understanding Outcomes

On completion of this module students will:

1. Attain a critical understanding of the nature of the operation of the global monetary and financial system.
2. Demonstrate a critical understanding of the links between monetary theory and the operation of international financial markets
3. Develop an in-depth understanding of the nature of financial products and their use.
4. Critically understand the nature of different types of financial risk and the importance of risk management.

Ability Outcomes

On completion of this module students will be able to:

1. Assess the effectiveness of international financial markets and institutions.
2. Analyse the impact of different types of risk and uncertainty on financial institutions.
3. Locate the origins, nature and causes of national and global financial crises.
4. Use case study material to evaluate the impact of different types of financial crises on national economies.
5. Use appropriate economic theory to discuss the causes and examine the consequences of financial crises.

Assessment Strategy
In order to pass the module all forms of assessment must be attempted.

Formative assessment

A range of formative devices; typically in-class tests and feedback on participation within a seminar environment.

The tutorial classes will offer direct feedback to students regarding their progress.

Summative Assessment

Assessment tasks (including assessment weightings)

An individual, 15 minute, presentation (10 minutes for presenting and 5 minutes discussion) weighted at 50%.
Covers learning outcomes 1, 2, 3, 7,8 and 9 weighted at 50%. Not marked anonymously. Eligible for tutor reassessment.

Student’s will be able to select one topic from the following list to present on until all available slots have been selected for that particular topic (first come first served basis):

1. Pick two International organisations of your choice and discuss their role(s) in a globalised world.

2. As a bank manager what are the main concerns you may have to make sure that you stay operational and avoid financial fragility, yet achieve maximum profit for your shareholders.

3. Pick one of the following financial crises and discuss how it came about, what occurred during the crisis and how it concluded (if it has).
Latin American Debt Crisis
The East Asian Financial Crisis
Global Financial Crisis

4. Debate either as a Keynesian or a Monetarist and present your arguments on a resolution to the current financial crisis.

5. Present your ideas about whether or not a future financial crisis may be avoided.

A 2,500 word (maximum) individual coursework based on the individual presentation, weighted at 50%.
Covers learning outcomes 2-7 weighted at 50%. Not marked anonymously. This course work is eligible for tutor reassessment. This is the final piece of assessment.

Due for submission on 12th January 2015.

Assessment Criteria

The assessment for criteria is as set out in the Huddersfield University Business School Assessment Guidelines. The guidelines provide criteria for the assessment of both coursework and examinations.

See below for guidance on criteria for the essay:

CRITERIA
EXCELLENT
(70%+)
GOOD
(60 – 69%)
SATISFACTORY
(50 – 59%)
WEAK
(40 – 49%)
POOR
(

Quality of research

Excellent use of sources. Extensive use made of appropriate journal articles

Good use of sources. Wide range of High quality sources used.

Satisfactory use of a range of sources. Relies on small number of sources.

Evidence of some research. Limited sources used

Little use of sources beyond key textbooks

Knowledge and understanding

Authoritative handling of complex material

Skilled, demonstrates sound knowledge

Satisfactory knowledge and understanding of main issues

Some knowledge and understanding of main issues and concepts

Little knowledge or understanding of the issues and concepts

Argument – how well you develop an argument

Well focused, convincing argument which demonstrates precision of thought

Logical, justified argument and effective writing style

Logical, clear presentation with competent style of writing

Attempt made to meet objectives. May lack balance or ability to develop an argument

Little evidence of analysis or development of an argument

Structure and clarity

Well structured and easily understood.

Coherent, soundly structured.

Adequately structured Reasonably easy to understand.

Some attempt to structure. Lacks clarity in some areas.

Very little understanding of how to structure. Very poor in terms of clarity

Ability in handling of quotations and references

High degree of skill in use of references

Skilled use of references .

Adequate use of references

Limited use of references

Very little or no reference to the literature

Originality

Demonstrates excellent insight and creativity

Demonstrates insight and individual thought

Demonstrates synthesis of knowledge

Limited evidence of thought or originality

No originality

Outline Programme

Please see Delivery schedule under Learning Resources on the UniLearn module page for latest details

The provisional schedule for the semester is below. The dates and content are subject to change.

Lecture notes will be available in advance of the lectures and printed copies of slides will not be provided. Lectures take place on Wednesday at 10:15 in BS1/07. Students will also attend a tutorial class on a Tuesday.

Tutorial exercises will be made available following lectures for discussion in the next week’s class.

Week
Week commencing
Tutorial (Tuesday)
Lecture (Wednesday)
1
29thSeptember
Introduction, course outline, what you know already.
Globalisation Introduction. Balance of payments and exchange rates.

2
6th October
Tutorial 1: Questions on globalisation.

International institutions.

3
13th October
Presentations 1: Pick two International organisations…

Introduction to the financial sector – banking and Central banking.
4
20th October
Tutorial 2: Questions on financial institutions.

Bank management, their balance sheets and financial fragility.
5
27th October
Presentations 2: As a bank manager what are the main concerns….

Introduction to financial crises.
6
3rdNovember
Tutorial 3: Questions on financial crises.
Case study examples of Financial Crises.
(East Asian 1997, Global crisis 2007+)
7
10thNovember
Reading week
Reading week

8
17thNovember
Assessment 3: Pick one of the following crises and …
Keynesians, Monetarists, Doves and Hawks – different economic schools.

9
24thNovember
Tutorial 4: Questions on different schools of economic thought.
The comparisons of different economic schools of thought and how they apply to globalisation.
10
2ndDecember
Assessment 4: Debate either as a Keynesian …
Crisis management, outcomes and solutions.

11
9thDecember
Tutorial 5: Questions on financial crisis management, outcomes and solutions.

Can we ever predict or prevent an economic crisis? Early warning indicators.
12
16thDecember
Assessment 5: Present your ideas ….

Summing up a global world and what is in store for the future.
(Revision advice)
.

Further information regarding the dates for the assessed presentations will be made available in lectures and via Unilearn as available.

The date for submission of the assessed essay will be 12th January 2014, via electronic submission.

Module Reading

Recommended:

Howells, P., Bain, K. `Financial Markets and Institutions.’ Prentice Hall
Mishkin. F. S. and Eakins. S.G., ‘Financial Markets & Institutions’, Pearson Addison Wesley
Pilbeam. K., ‘International Finance’, Macmillan

Supplementary:

Allen. L., ‘Capital Markets and Institutions: A Global View’, Wiley
Chisholm. A.M., ‘International Capital Markets’, Wiley
Matthews. K and Booth. P., ‘Monetary Economics and Financial Markets’, Wiley
Turner, G., ‘The Credit Crunch’, Pluto Press

UNIVERSITY OF HUDDERSFIELD

FEEDBACK PRO FORMA

Student Name:

Student Number:

Module Title:

Module Code:

Assessment Title:

Submission Date:

Intended Learning Outcomes

This assessment addresses the following learning outcome(s) for the module:

§ Acquire a clear perspective of the evolving practice of monetary, banking and financial systems in developed economies
§ Understand the functions of UK and global financial institutions and markets
§ Understand the regulatory framework in which banks and building societies operate and the implications for the size and structure of their respective balance sheets
§ Interpret economic information presented in verbal, numerical or graphical form and translate such information from one form to another
§ Collect data relating to the monetary, banking and financial system and make valid inferences from material presented

Assessment Criteria

Criteria
Weighting
Level of Achievement(P)
Presentation structure

Aims and objectives clearly stated, relevant material used and appropriate conclusions drawn.

20%
A
B
C
D
E
F

Criteria specific comments
Exposition

Clarity of explanation, appropriate speed of delivery and discursive.

20%
A
B
C
D
E
F

Criteria specific comments
Support material

Clear, relevant handouts where used, effective use of slides, appropriate follow-up references.

20%
A
B
C
D
E
F

Criteria specific comments
Subject knowledge

Up-to-date, comprehensive and relevant.

20%
A
B
C
D
E
F

Criteria specific comments
Personal characteristics

Confident oratory, relaxed style of delivery and in-control of subject matter and audience

20%
A
B
C
D
E
F

Criteria specific comments

Achievement Key
A – Outstanding in all respects
B – Some very good features
C – Average
D – Satisfactory
E – Some serious inadequacies
F – Inadequate in most respects

General comments and advice on how to improve your work in the future

Overall Mark:

Overall Grade:

All marks/grades are provisional until confirmed by the Course Assessment Board.

Where applicable, the deadline for submission for tutor reassessment is:

Submission status:
on time / late
The maximum mark available for assessed work which is submitted late but within 5 working days of the agreed submission date will be 40%

Assessed by:

Date:

Feedback to Student:

Globalisation and Financial Crises

Module Introduction
This module is currently a core offering to full-time students on the MSc in International Business with Financial Services, MSc Accounting and MSc in Banking and Finance degree programmes.

Module Synopsis
This module introduces students to the range of influences on globalised financial markets and the impact of market failure upon businesses and the macro-economy. In particular the module will combine theory and policy with an analysis of financial crises within a global context.

Learning Strategy
Generally, a one hour lecture will be accompanied by a one hour tutorial per week. Lectures will provide students with essential insights into the global financial environment, including associated theoretical underpinnings. Weekly seminars will allow students to present material for discussion and extend students’ knowledge of theory and its relation to practice. Case studies will be used to facilitate understanding.

Tutorials will also require students to demonstrate skills and competencies outlined above and to discuss relevant issues learnedly and confidently via group situations. Presentation and oral communication skills will be honed in tutorials.

Learning Outcomes
Knowledge and Understanding Outcomes

On completion of this module students will:

1. Attain a critical understanding of the nature of the operation of the global monetary and financial system.
2. Demonstrate a critical understanding of the links between monetary theory and the operation of international financial markets
3. Develop an in-depth understanding of the nature of financial products and their use.
4. Critically understand the nature of different types of financial risk and the importance of risk management.

Ability Outcomes

On completion of this module students will be able to:

1. Assess the effectiveness of international financial markets and institutions.
2. Analyse the impact of different types of risk and uncertainty on financial institutions.
3. Locate the origins, nature and causes of national and global financial crises.
4. Use case study material to evaluate the impact of different types of financial crises on national economies.
5. Use appropriate economic theory to discuss the causes and examine the consequences of financial crises.

Assessment Strategy
In order to pass the module all forms of assessment must be attempted.

Formative assessment

A range of formative devices; typically in-class tests and feedback on participation within a seminar environment.

The tutorial classes will offer direct feedback to students regarding their progress.

Summative Assessment

Assessment tasks (including assessment weightings)

An individual, 15 minute, presentation (10 minutes for presenting and 5 minutes discussion) weighted at 50%.
Covers learning outcomes 1, 2, 3, 7,8 and 9 weighted at 50%. Not marked anonymously. Eligible for tutor reassessment.

Student’s will be able to select one topic from the following list to present on until all available slots have been selected for that particular topic (first come first served basis):

1. Pick two International organisations of your choice and discuss their role(s) in a globalised world.

2. As a bank manager what are the main concerns you may have to make sure that you stay operational and avoid financial fragility, yet achieve maximum profit for your shareholders.

3. Pick one of the following financial crises and discuss how it came about, what occurred during the crisis and how it concluded (if it has).
Latin American Debt Crisis
The East Asian Financial Crisis
Global Financial Crisis

4. Debate either as a Keynesian or a Monetarist and present your arguments on a resolution to the current financial crisis.

5. Present your ideas about whether or not a future financial crisis may be avoided.

A 2,500 word (maximum) individual coursework based on the individual presentation, weighted at 50%.
Covers learning outcomes 2-7 weighted at 50%. Not marked anonymously. This course work is eligible for tutor reassessment. This is the final piece of assessment.

Due for submission on 12th January 2015.

Assessment Criteria

The assessment for criteria is as set out in the Huddersfield University Business School Assessment Guidelines. The guidelines provide criteria for the assessment of both coursework and examinations.

See below for guidance on criteria for the essay:

CRITERIA
EXCELLENT
(70%+)
GOOD
(60 – 69%)
SATISFACTORY
(50 – 59%)
WEAK
(40 – 49%)
POOR
(

Quality of research

Excellent use of sources. Extensive use made of appropriate journal articles

Good use of sources. Wide range of High quality sources used.

Satisfactory use of a range of sources. Relies on small number of sources.

Evidence of some research. Limited sources used

Little use of sources beyond key textbooks

Knowledge and understanding

Authoritative handling of complex material

Skilled, demonstrates sound knowledge

Satisfactory knowledge and understanding of main issues

Some knowledge and understanding of main issues and concepts

Little knowledge or understanding of the issues and concepts

Argument – how well you develop an argument

Well focused, convincing argument which demonstrates precision of thought

Logical, justified argument and effective writing style

Logical, clear presentation with competent style of writing

Attempt made to meet objectives. May lack balance or ability to develop an argument

Little evidence of analysis or development of an argument

Structure and clarity

Well structured and easily understood.

Coherent, soundly structured.

Adequately structured Reasonably easy to understand.

Some attempt to structure. Lacks clarity in some areas.

Very little understanding of how to structure. Very poor in terms of clarity

Ability in handling of quotations and references

High degree of skill in use of references

Skilled use of references .

Adequate use of references

Limited use of references

Very little or no reference to the literature

Originality

Demonstrates excellent insight and creativity

Demonstrates insight and individual thought

Demonstrates synthesis of knowledge

Limited evidence of thought or originality

No originality

Outline Programme

Please see Delivery schedule under Learning Resources on the UniLearn module page for latest details

The provisional schedule for the semester is below. The dates and content are subject to change.

Lecture notes will be available in advance of the lectures and printed copies of slides will not be provided. Lectures take place on Wednesday at 10:15 in BS1/07. Students will also attend a tutorial class on a Tuesday.

Tutorial exercises will be made available following lectures for discussion in the next week’s class.

Week
Week commencing
Tutorial (Tuesday)
Lecture (Wednesday)
1
29thSeptember
Introduction, course outline, what you know already.
Globalisation Introduction. Balance of payments and exchange rates.

2
6th October
Tutorial 1: Questions on globalisation.

International institutions.

3
13th October
Presentations 1: Pick two International organisations…

Introduction to the financial sector – banking and Central banking.
4
20th October
Tutorial 2: Questions on financial institutions.

Bank management, their balance sheets and financial fragility.
5
27th October
Presentations 2: As a bank manager what are the main concerns….

Introduction to financial crises.
6
3rdNovember
Tutorial 3: Questions on financial crises.
Case study examples of Financial Crises.
(East Asian 1997, Global crisis 2007+)
7
10thNovember
Reading week
Reading week

8
17thNovember
Assessment 3: Pick one of the following crises and …
Keynesians, Monetarists, Doves and Hawks – different economic schools.

9
24thNovember
Tutorial 4: Questions on different schools of economic thought.
The comparisons of different economic schools of thought and how they apply to globalisation.
10
2ndDecember
Assessment 4: Debate either as a Keynesian …
Crisis management, outcomes and solutions.

11
9thDecember
Tutorial 5: Questions on financial crisis management, outcomes and solutions.

Can we ever predict or prevent an economic crisis? Early warning indicators.
12
16thDecember
Assessment 5: Present your ideas ….

Summing up a global world and what is in store for the future.
(Revision advice)
.

Further information regarding the dates for the assessed presentations will be made available in lectures and via Unilearn as available.

The date for submission of the assessed essay will be 12th January 2014, via electronic submission.

Module Reading

Recommended:

Howells, P., Bain, K. `Financial Markets and Institutions.’ Prentice Hall
Mishkin. F. S. and Eakins. S.G., ‘Financial Markets & Institutions’, Pearson Addison Wesley
Pilbeam. K., ‘International Finance’, Macmillan

Supplementary:

Allen. L., ‘Capital Markets and Institutions: A Global View’, Wiley
Chisholm. A.M., ‘International Capital Markets’, Wiley
Matthews. K and Booth. P., ‘Monetary Economics and Financial Markets’, Wiley
Turner, G., ‘The Credit Crunch’, Pluto Press

UNIVERSITY OF HUDDERSFIELD

FEEDBACK PRO FORMA

Student Name:

Student Number:

Module Title:

Module Code:

Assessment Title:

Submission Date:

Intended Learning Outcomes

This assessment addresses the following learning outcome(s) for the module:

§ Acquire a clear perspective of the evolving practice of monetary, banking and financial systems in developed economies
§ Understand the functions of UK and global financial institutions and markets
§ Understand the regulatory framework in which banks and building societies operate and the implications for the size and structure of their respective balance sheets
§ Interpret economic information presented in verbal, numerical or graphical form and translate such information from one form to another
§ Collect data relating to the monetary, banking and financial system and make valid inferences from material presented

Assessment Criteria

Criteria
Weighting
Level of Achievement(P)
Presentation structure

Aims and objectives clearly stated, relevant material used and appropriate conclusions drawn.

20%
A
B
C
D
E
F

Criteria specific comments
Exposition

Clarity of explanation, appropriate speed of delivery and discursive.

20%
A
B
C
D
E
F

Criteria specific comments
Support material

Clear, relevant handouts where used, effective use of slides, appropriate follow-up references.

20%
A
B
C
D
E
F

Criteria specific comments
Subject knowledge

Up-to-date, comprehensive and relevant.

20%
A
B
C
D
E
F

Criteria specific comments
Personal characteristics

Confident oratory, relaxed style of delivery and in-control of subject matter and audience

20%
A
B
C
D
E
F

Criteria specific comments

Achievement Key
A – Outstanding in all respects
B – Some very good features
C – Average
D – Satisfactory
E – Some serious inadequacies
F – Inadequate in most respects

General comments and advice on how to improve your work in the future

Overall Mark:

Overall Grade:

All marks/grades are provisional until confirmed by the Course Assessment Board.

Where applicable, the deadline for submission for tutor reassessment is:

Submission status:
on time / late
The maximum mark available for assessed work which is submitted late but within 5 working days of the agreed submission date will be 40%

Assessed by:

Date:

Feedback to Student:

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