| Unit name | Principles of Financial Intermediation |
|---|---|
| Unit code | ACFIM0037 |
| Credit points | 20 |
| Level of study | M/7 |
| Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
| Unit director | Professor. Klaus Schaeck |
| Open unit status | Not open |
| Units you must take before you take this one (pre-requisite units) |
None |
| Units you must take alongside this one (co-requisite units) |
None |
| Units you may not take alongside this one |
None |
| School/department | School of Accounting and Finance - Business School |
| Faculty | Faculty of Social Sciences and Law |
Why is this unit important?
As the flagship unit of the MSc Banking, Regulation and Financial Stability, this unit builds upon the microeconomic foundations of banking and from the previous teaching block to lays the empirical foundations of financial intermediation by first asking why economies even need financial intermediaries before discussing a series of core banking themes. The unit is research-driven in nature, introduces students to seminal papers in banking, and develops their understanding of formulating and testing hypotheses.
How does this unit fit into your programme of study
The unit illustrates the use of applied microeconometric techniques in the context of banking and is designed to benefit students in the choice and development of their dissertation topic. The unit develops student’s research skills, and it also has strong links with other core units and some electives in TB2 on the PGT offering in banking.
An overview of content
This unit covers key themes in banking. It is based on seminal academic papers on why banks exist, how banks create liquidity, the role of banks for economic growth, bank-borrower interaction, the role of international banking, how regulation affects bank behaviour, how bailouts affect structure and performance of banks, and the unit also explores fintech and the role of green finance.
The unit illustrates the use of applied microeconometric techniques in the context of banking and therefore also benefits students in the choice and development of their dissertation topic.
How will students, personally, be different as a result of the unit
Students will be able to articulate economic arguments clearly and concisely, develop research skills that are widely transferable across economic and financial problems with a focus on the banking industry, and will be familiar with and be able to discuss core issues related to banking and financial intermediation.
Learning Outcomes
On successful completion of the unit, students will be able to:
How you will learn
Teaching takes place in a combination of lectures and smaller group workshops. The lectures will take place in a traditional lecture setting, all efforts will be made to ensure lectures are as engaging and interactive as possible with the active use of student questioning, and student participation in exercises and case studies discussed and presented in lectures.
The tutorials draw extensively on real life industry examples, articles from the FT and the Economist, and from central banks with a focus on student preparing and presenting material to their peers, in combination with Padlets. Students that do not present and sit in the audience will provide constructive feedback to the presenting students, to enable a reflection on presentation styles. This approach simulates realistic practical problems and challenges encountered in a job in a bank or central bank and allows a focus on timely challenges in the industry. Padlet responses will be discussed in a collaborative manner between the tutor and peer students. Extensive supportive material will be made available via Blackboard. Finally, a mock exam will be provided, in conjunction with a set of model answers. The assessment components evolve naturally as student learning progresses and tie in with the sequencing of the taught content as the unit progresses throughout TB2.
Tasks which help you learn and prepare you for summative tasks (formative):
Formative assessment takes place constantly during tutorials, with students populating Padlets and presenting research papers discussed by their peers. The formative tasks set the stage for the summative assessment components by familiarising students with core econometric techniques used in banking research papers and they also familiarise students with the structure and design of subsequent dissertations.
Tasks which count towards your unit mark (summative):
30% Group assignment consisting of an empirical research project (1500 words)
Working in groups of (4-5 students), students are required to demonstrate their ability to analyse an empirical research question in the context of bank market structure and economic outcomes.
Learning Outcomes assessed: ILO2
70% Closed book exam (2-hour duration)
Students will be assessed on their ability to demonstrate:
Learning Outcomes assessed: ILO1, ILO3, ILO4
When assessment does not go to plan
When a student fails the unit and is eligible to resubmit, failed components will be reassessed as follows:
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. ACFIM0037).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the University Workload statement relating to this unit for more information.
Assessment
The assessment methods listed in this unit specification are designed to enable students to demonstrate the named learning outcomes (LOs). Where a disability prevents a student from undertaking a specific method of assessment, schools will make reasonable adjustments to support a student to demonstrate the LO by an alternative method or with additional resources.
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. For appropriate assessments, if you have self-certificated your absence, you will normally be required to complete it the next time it runs (for assessments at the end of TB1 and TB2 this is usually in the next re-assessment period).
The Board of Examiners will take into account any exceptional circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
