Faculty of Business, Environment and Society. Programme Specification for. BA (Hons) Finance and Investment FINAL. Academic Year 2015/16

Transcription

1 Faculty of Business, Environment and Society Programme Specification for BA (Hons) Finance and Investment FINAL Academic Year 2015/16 1

2 Contents Introduction 3 Part 1: Programme Specification Page 1-10 Basic Programme information 4 11 Educational Aims of the Programme 5 12 Intended Learning Outcomes 5 13 Programme Structure and Requirements 9 14 Support for Students and their Learning Criteria for Admission Methods for Evaluation and Enhancing the Quality and Standards of Teaching and learning Regulation of Assessment Indicators of Quality and Standards Additional Information List of mandatory and core option modules Curriculum Map Capabilities (Skills) Map 20 Part 2: Supporting information Relationship to the QCF. 22 Teaching and Learning Strategy 25 Assessment Strategy 27 Course Management 31 Entry Requirements 32 Compliance with the University s Academic Regulations and Current Legislation 32 2

3 Introduction BA Finance and Investment is one course in the suite of finance and accounting courses offered by the department of Economics, Finance and Accounting within the Faculty of Business, Environment and Society. It is the specialist course for students who intend to pursue a professional career in financial services and will equip students with the financial knowledge, understanding and skills which different types of organisation require, in addition to enabling students to develop analytical and problem-solving abilities, and to increase their communication, interpersonal and ICT skills. It is a course designed to facilitate student employment and career development. A particular feature is that graduates will have gained a basic professional qualification during their study. Graduate career prospects in financial services are excellent. Employers report difficulties in recruiting suitable personnel, particularly people with a basic professional qualification. 3

4 Part 1: Programme Specification for BA Finance and Investment 1. Available Awards and Modes of Study Title of Award Mode of Attendance UCAS Code FHEQ Level BA Honours Finance and Investment BA Finance and Investment BA Financial Studies Diploma of Higher Education in Financial Studies Certificate of Higher Education in Financial Studies F/T 3 years or P/T 4-6 years S/W 4 years N Awarding Institution/Body Coventry University 3. Collaboration None 4. Teaching Institution and Location of Delivery Coventry University 5. Internal Approval/Review Dates 2017/ Course Accredited by BA Honours Finance and Investment is accredited by the Chartered Insurance Institute 7. Accreditation Date and Duration 4 th December All cohorts are accredited. No expiry date. 8. QAA Subject Benchmark Statement and/or other external factors There is no applicable QAA subject benchmark statement. Attention has been paid to the professional qualification programmes offered by the Institute of Financial Services and the Chartered Insurance Institute. 9. Date of Programme Specification March Programme Manager/Course Tutor Anita Gill 4

5 11. Educational Aims of the Course The course contributes to the achievement of the University s mission statement, in that it is offered in response to demands from the local regional community. In particular the educational aims are: 1. The production of autonomous learners who have an understanding of how properly conducted research can enhance their performance as financial managers. 2. The development in learners of a critical awareness and understanding of the contemporary finance theories required for effective performance. 3. The development in learners of the ability to blend theory and practice in complex situations, both systematically and creatively, to improve financial and business performance. 4. The enhancement of lifelong learning skills and personal development in learners so they are able to work with self-direction and originality. 12. Intended Learning Outcomes This programme satisfies Coventry University s Code of Practice for Academic and Professional Skills Development. Section 21 maps the learning outcomes described below to the programme s mandatory and core option modules (these are identified in section 20). Section 22 shows the capabilities that students will be taught, given the opportunity to practise and will be assessed in. The principal teaching, learning and assessment methods normally used on the programme to achieve the learning outcomes are identified below Knowledge and Understanding On successful completion of the programme a student should be able to demonstrate knowledge and understanding of: KU1 the functions of financial services. KU2 the ability to structure and evaluate the retail financial products, services and strategies available to individuals. KU3 the ability to communicate information about financial products, services, and strategies. KU4 an understanding of the decision-making processes of individual investors and borrowers. KU5 an understanding of some of the contexts in which financial services can be seen as operating (examples of contexts include the regulatory, economic, financial, demographic and social environments). KU6 knowledge and understanding of the main current technical language and practices of financial services in the UK; KU7 knowledge and understanding of some of the alternative theoretical models (for example, alternative approaches to investment management, asset valuation, and risk management). Ability to critically evaluate the theories; 5

6 KU8 knowledge and understanding of empirical evidence concerning financial services and the ability to critically evaluate such evidence. The principal teaching, learning and assessment methods normally used to enable outcomes to be achieved and demonstrated are identified below. Teaching and Learning KU1 Lectures, seminars, textbooks, journals, case studies, outside speakers KU2 Lectures, seminars, workshops, computer-based learning packages, textbooks, journals, case studies, outside speakers Assessment Examinations, individual written assignments, time-controlled tests, presentations. Examinations, individual written assignments, presentations. KU3 Seminars, workshops, case studies, essays, presentations, outside speakers Examinations, individual written assignments, time-controlled tests, presentations. KU4 Lectures, seminars, workshops, textbooks, journals, case studies, outside speakers KU5 Lectures, seminars, textbooks, journals, websites, case studies, outside speakers KU6 Lectures, seminars, textbooks, journals, websites, case studies, outside speakers. KU7 Lectures, seminars, computer-based learning packages, textbooks, journals. KU8 Lectures, seminars, workshops, computer-based learning packages, textbooks, journals, websites. Examinations, individual written assignments, time-controlled tests, presentations. Examinations, individual written assignments, time-controlled tests, presentations. Examinations, individual written assignments, time-controlled tests, presentations. Examinations, individual written assignments, time-controlled tests, presentations. Examinations, individual written assignments, presentations Cognitive (thinking) Skills On successful completion of the programme a student should be able to: CS1 Critically evaluate arguments and evidence CS2 Analyse and draw reasoned conclusions concerning structured and unstructured problems from sets of data CS3 Formulate research questions and select appropriate research methods 6

7 The principal teaching, learning and assessment methods normally used to enable outcomes to be achieved and demonstrated are identified below. CS1 CS2 CS3 Teaching and Learning Lectures, seminars, workshops, project, case studies, textbooks, journals, outside speakers. Assessment Examinations, individual written assignments, project, time-controlled tests, presentations Practical Skills On successful completion of the programme a student should be able to: PS1 Analyse and produce financial solutions to client needs. PS2 Structure institutional investment products. PS3 Manage portfolios of institutional, and direct, investment products. PS4 Communicate the nature of products, strategies and solutions to clients. PS5 Monitor financial markets and make adjustments to portfolios and strategies in the light of new information. The principal teaching, learning and assessment methods normally used to enable outcomes to be achieved and demonstrated are identified below. Teaching and Learning PS1 Lectures, seminars, workshops, textbooks, journals, case studies, computer-based learning packages, distance learning packages, outside speakers. Assessment Examinations, individual written assignments, time-controlled tests, presentations, professional body assessments. PS2 Lectures, seminars, workshops, textbooks, journals, websites, case studies, outside speakers. PS3 Lectures, seminars, workshops, textbooks, journals, case studies, computer-based learning packages, distance learning packages, outside speakers. PS4 Lectures, seminars, textbooks, case studies, distance learning packages, outside speakers. PS5 Workshops, case studies, computer-based learning packages, distance learning packages. Examinations, individual written assignments, time-controlled tests, presentations. Examinations, individual written assignments, time-controlled tests, presentations, professional body assessments. As above. Individual written assignments, professional body assessments. 7

8 12.4 Transferable Skills On successful completion of the programme a student should be able to: TS1 Locate, extract and analyse data from multiple sources, including the acknowledgement and referencing of sources TS2 Demonstrate appropriate numerical and statistical skills to enable the manipulation and presentation of financial and other numerical data TS3 Use information and communications technology to acquire, analyse and communicate information TS4 Effectively present quantitative and qualitative information, together with analysis, argument and commentary, in a form appropriate to the intended audience TS5 Work effectively in groups and demonstrate a critical appreciation of others ideas and contributions Transferable/key skills are generally incorporated within modules (see annex 3) and related to relevant assessments as appropriate. Self-directed learning forms an element of all modules and the necessity to work within tight deadlines is an essential requirement across the curriculum. The ability to communicate orally and in writing will be developed across the range of modules. The wide range of assessment techniques will ensure that students are given every opportunity to demonstrate their skills in these areas Teaching and Learning Methods The various teaching and learning methods indicated in sections above will be used to ensure the course intended learning objectives and module learning outcomes are met. Specifically these are: Lectures A formal teaching and learning environment led by an academic member of staff. Material covered will be in accordance with the relevant module teaching plan. The member of staff will be encouraged to adopt the most suitable means of communication and of stimulating the students interest. Seminars A session led by an academic member of staff where students, individually or in groups, will be engaged in discussions of the implication and application of lecture material through the use of case studies, directed reading, journal articles and presentations of their work. Workshops A session led by an academic member of staff where students, individually or in small groups, will be working through examples, many of which will be numerical and practically-oriented, to see the application of lecture material, and to extend and practise demonstrated techniques. Outside speakers For certain modules outside speakers will be invited to give talks to illustrate the practical nature of the subjects studied, application of theories and provide case study material. 8

9 Student-centred learning For all modules, students will be required to engage in active learning through the use of guided reading, practical examples, case studies, etc. CUOnline The University e-learning platform, CUOnline supports and enhances many of the above teaching and learning methods. Students will initially be directed in its use, and will be encouraged to develop this as their course progresses. Its principal features are: Module webs used for providing teaching and learning materials on-line, communicating with students via discussion boards and private mail, on-line assessment, student discussion groups, tracking of progress, giving feedback, links to relevant websites Electronic library which provides access to a vast number of journals and articles on-line Library portal links to all library facilities Course webs containing course regulations, communication with and support from course tutors, generic subject material and links to websites of relevance Study and transferable skills links The Faculty intranet 13 Programme Structure and Requirements, Levels, Modules, Credits and Awards Modules within the course, their status (whether mandatory or core options), the levels at which they are studied, their credit value and pre/co requisites are identified in section Patterns and modes of attendance The course is available on a full-time basis (normally 3 years for an honours degree) and on a parttime basis (typically 6 years for an honours degree). Section 6.4 of University regulations concerning enrolment and registration are applicable to the course Accreditations from the Chartered Insurance Institute General Insurance qualifications framework 530 Business and Economics awarded 25 non-specific credits at Diploma level 30 non-specific credits at Advanced Diploma level Financial Services qualifications framework 25 non-specific credits at Diploma level 60 non-specific credits at Advanced Diploma level 9

10 13.3 BA Finance and Investment course structure The structure of the course is shown below. All modules are 20-credit. Mandatory (M) modules are in bold. Option (O) modules are in normal typeface. *360FIN is only available when students take a year placement between stages 2 & 3 Level 1 Level 2 Level 3 Semester 1 Semester 1 Semester 1 150FIN Introduction to Personal Finance (M) 118SAM Fundamentals of Business Organisation (M) 102MKT Marketing Principles & Practice (M) 250FIN Principles of Financial Investment (M) 285ACC Business Accounting (M) 226ECN Economics of Banking and Finance (M) 350FIN Investment Analysis (M) 352FIN Portfolio Management(M) One option from: 322ECN Corporate Governance and Ethics (O) 357FIN Financial Management (O) 300ECN Advanced Issues in Banking (O) Semester 2 Semester 2 Semester 2 116ECN Introduction to Business Economics (M) 201FIN Certificate for Financial Advisers 2 (M) 354FIN Insurance and Pensions(M) 101FIN Certificate for Financial Advisers 1 (M) 102ACC Data Analysis Skills for Finance and Accounting (M) 251FIN Financial Services (M) One option from: 210MKT Marketing Planning (O) Two options from: 353FIN International Finance (O) 301FIN Certificate for Financial Advisers 3 (O) 211MKT Buyer Behaviour (O) 385ACC Advanced Studies for Accounting and Finance (O) 238CLS Law of Business & Business Organisations (O) 306MKT Services and Retail Marketing (O) 360FIN Finance Placement module (O)* 10

11 The employability modules 101FIN, 201FIN and 301FIN take the form of distance learning study for the Certificate for Financial Advisers. The study materials are from the Institute of Financial Services, and the Institute conducts the assessments. The Certificate for Financial Advisers is a basic professional qualification for financial advisers, and will allow graduates to be useful employees immediately Progression and Awards The conditions given below are specific regulations for the course BA Finance and Investment. They are in addition to University Academic Regulations (Mode C). Conditions for Progression (a) To progress from Stage 1 to Stage 2 a student must have passed modules giving 100 credits including: 150FIN Introduction to Personal Finance (b) To progress from Stage 2 to Stage 3 a student must have passed modules giving 200 credits, with at least 100 at level 2, including: 250FIN Principles of Financial Investment 251FIN Financial Services Conditions for Awards (a) For an Honours degree in Finance and Investment a student must have passed modules giving 360 credits including all mandatory modules (b) For an Unclassified degree in Finance and Investment a student must have passed modules giving 300 credits including all the mandatory modules in levels 1 and 2. Cascade of Awards BA Honours Finance and Investment BA Finance and Investment BA Financial Studies Diploma of Higher Education in Financial Studies Certificate of Higher Education in Financial Studies 11

12 13.5 BA Financial Studies (Fall-back) This course is an alternative that is available for students who were originally enrolled on BA Finance and Investment. It is envisaged that students may wish to transfer to this course where they have failed a mandatory module and are unable to proceed on to the next stage of their named award or do not want to continue with some mandatory modules beyond stage 1. There is no set programme of study and there are no mandatory modules. However; The student will need to pass a minimum of 180 credits coded ECN/FIN/ACC (including a minimum of 60 credits coded ECN/FIN/ACC at level 3), in addition to meeting the University s general requirements for such awards. (i.e. 300 credits with a minimum of 100 credits at level 1 and 80 credits at each of levels 2 and 3). A student who transfers to stage 2 of BA Financial Studies may return to their original programme at stage 3 if they pass all of the required stage 1 and stage 2 mandatory modules, meet the conditions for progression, and have only studied modules from their named award. 14. Support for Students and their Learning Students will be supported by the following mechanisms: An induction programme for all new students at the start of their studies. This will give an introduction to the following: o The University and the Faculty of Business, Environment & Society o Their course of study and timetable o The library o CUOnline o Key staff o Mathematics support o The academic personal tutorial system. The allocation of an academic personal tutor who may be consulted on academic matters, and who will advise and manage each student s programme of study. A course guide, student handbook and individual module guides. A course web on CUOnline, which will provide opportunities for discussions amongst student groups and with course tutors, and enable the posting of relevant support material or links to supporting websites (e.g. relating to personal development and careers, or study skills). Other CUOnline facilities. The University and Faculty Student Support Centres. The Faculty careers advisors. 12

13 Faculty careers advice is supported by a departmental Employment Tutor, who holds employment focused tutorials with the students. The Academic Personal Tutor system has the involvement of HPLs, who are also practicing personal financial advisers and therefore wellplaced to provide further careers advice. Overseas students, including students from other EU countries, receive additional support from the International office, and special events are put on for their benefit. All support mechanisms are consistent with University policies on Equal Opportunities (including that on students with disabilities). Reasonable adjustments can be made to the teaching, learning, assessment and support of the course to maximise accessibility to students with disabilities. This will be done on an individual basis in consultation with the University Disabilities Unit. 15 Criteria for Admission UCAS entry profiles may be found at tariff points are normally required. No specific A level subjects are necessary. The general requirements are in line with University Policy. Information is available on the University website. Alternative entry requirements may be considered in the case of mature applicants. 16 Method for Evaluating and Enhancing the Quality and Standards of Teaching and Learning The course is managed by the Economics, Finance and Accounting Board of Studies of the Faculty of Business, Environment and Society. The Programme Assessment Board (PAB) for Accounting and Finance is responsible for considering the progress of all students and making awards in accordance with both the University and course-specific regulations. The assurance of the quality of modules is the responsibility of the Boards of Studies which contribute modules to the course. External Examiners report annually on the course and their views are considered as part of the annual quality monitoring process (AQM). Details of the AQM process can be found on the Academic Registry s web site. Students are represented on the Student Forum, Board of Studies and School Board, all of which normally meet two or three times per year. Student views are also sought through module and course evaluation questionnaires. The Faculty of Business, Environment and Society also operates the following methods for evaluating and enhancing the quality and standards of teaching and learning: A faculty wide peer observation system whereby all fulltime and fractional staff are observed. 13

14 The provision of in-house seminars and workshops on teaching and learning matters which all staff are invited to attend 17 Regulation of Assessment University policy requires the internal moderation of assessments. External Examiners are appointed for all named University awards. The role of the External Examiner at module level is to ensure that academic standards are in line with national norms for the subject. External Examiners undertake the moderation of examination papers, and view representative samples of work for the modules for which they have responsibility. At course level, External Examiners help to ensure fairness in the consideration of student progression and awards. They have the right to comment on all aspects of the assessment system and participate as full members of the assessment boards. The Pass mark for all modules is 40%. This overall module mark may comprise more than one component (e.g. coursework and exam). The individual module descriptors give the precise pass criteria and the weighting of the component marks that contribute to the overall module mark. On Undergraduate programmes, the Honours classification boundaries for First Class, Upper Second Class, Lower Second Class and Third Class are 70%, 60%, 50% and 40% respectively. 14

15 18 Indicators of Quality and Standards The National Student Survey of 3 rd year undergraduate students, conducted in 2011, indicated an overall satisfaction score for finance students of 92%. The table below demonstrates that our overall satisfaction levels are strong against our competitors. Year Coventry Nottingham Trent DMU Subject: Finance Birmingham Northampton City University of Birmingham Oxford Brookes Sheffield Hallam % 77% 93% 90% 91% 79% 84% 86% As part of the BA Finance and Investment programme students will study for a professional qualification, the Certificate for Financial Advisers (operated by the Institute of Financial Services). So, upon graduation, students could have both a degree and a professional qualification. The BA Finance and Investment is listed by the Financial Services Skills Council, and receives accreditation from the Chartered Insurance Institute. Staff teaching on the BA Finance and Investment course have written some of the textbooks to be used, and have also published in relevant academic journals such as the Journal of Financial Service Professionals, Journal of Financial Planning, Journal of Investing, and the Journal of Index Investing. 19 Additional Information Key sources of information about the course and student support can be found in The Student Handbook The Module Information Directory ( Module Guide documents produced for all modules Study Support, accessible from the Faculty s CUOnline home page Please note: This specification provides a concise summary of the main features of the course and the learning outcomes that a typical student might reasonably be expected to achieve and demonstrate if s/he takes full advantage of the learning opportunities that are provided. More detailed information on the learning outcomes, content, and teaching, learning and assessment methods of each module can be found in the Module Information Directory (MID), student module guides and the course handbook. The accuracy of the information contained in this document is reviewed by the University and may be verified by the Quality Assurance Agency for Higher Education. 15

16 20 Mandatory and Option Modules Module code Level 1 Module title Credit value Pre-requisite Status 150FIN Introduction to Personal Finance 20 None M 102ACC Data Analysis Skills for Finance and Accounting 20 None M 116ECN Introduction to Business Economics 20 None M 102MKT Marketing Principles & Practice 20 None M 118SAM Fundamentals of Business Organisation 20 None M 101FIN Certificate for Financial Advisers 1 20 None M Level 2 250FIN Principles of Financial Investment 20 None M 251FIN Financial Services 20 None M 226ECN Economics of Banking and Finance 20 None M 285ACC Business Accounting 20 None M 210MKT Marketing Planning MKT O 211MKT Consumer Behaviour MKT O 238CLS Law of Business & Business Organisations 20 None O 201FIN Certificate for Financial Advisers FIN M *236SAM Study Abroad Year 40 None O 16

17 Module code Level 3 Module title Credit value Pre-requisite Status 354FIN Insurance and Pensions FIN M 350FIN Investment Analysis FIN M 352FIN Portfolio Management FIN M 357FIN Financial Management FIN O 353FIN International Finance FIN O 306MKT Services and Retail Marketing MKT O 385ACC Advanced Study for Accounting and Finance 20 None O 301FIN Certificate for Financial Advisers FIN O 322ECN Corporate Governance and Ethics ACC O 300ECN Advanced Issues in Banking ECN O 360FIN Finance Placement Module 20 None N/A Key M Mandatory (i.e. must be studied and passed) O Option * = Students who undertake a Study Abroad Year complete module 236SAM Study Year Abroad. This 40-credit level 2 module provides an international cultural aspect to study and learning and involves preparation for the year of study in an overseas institution (including the learning agreement defining academic expectations) and production of a reflective report. Passing the module is required for successful completion of the study abroad year. 17

18 21 Curriculum Map The following table maps the intended learning outcomes against the mandatory modules. It demonstrates that the students will have the opportunity to achieve the intended learning outcomes, shown in section 11, from mandatory modules. Knowledge and Understanding Cognitive Skills Module KU1 KU2 KU3 KU4 KU5 KU6 KU7 KU8 CS1 CS2 CS3 150FIN 102ACC 116ECN 102MKT 118SAM 101FIN 250FIN 251FIN 226ECN 285ACC 238CLS 201FIN 350FIN 352FIN 354FIN 18

19 Practical Skills Transferable Skills Module PS1 PS2 PS3 PS4 PS5 TS1 TS2 TS3 TS4 TS5 150FIN 102ACC 116ECN 102MKT 118SAM 101FIN 250FIN 251FIN 226ECN 285ACC 238CLS 201FIN 350FIN 352FIN 354FIN 19

20 22 Capabilities (Skills) Map Key: T=Taught, P=Practised, A=Assessed Module Learning to Learn Working with Others Problem Solving and Innovati on Numerac y IT and Online Learning Commu nication Career Manage ment Informat ion Manage ment Personal Develop ment Planning 150FIN P P TPA TPA TP TPA TPA TPA TPA 102ACC P P TPA TPA TPA TPA TPA 116ECN P P TPA TPA TP TPA TPA 118SAM P P TPA TPA TP TPA TPA TPA 102MKT P P TPA TPA TP TPA TPA TPA 101FIN P P TPA TPA TP TPA TPA TPA TPA 250FIN P P TPA TPA P TPA TPA TPA 251FIN P P TPA TPA P TPA TPA TPA TPA 226ECN P P TPA TPA P TPA TPA TPA 285ACC P P TPA TPA P TPA P 201FIN P P TPA TPA P TPA TPA TPA TPA 238CLS P P TPA TPA P TPA TPA TPA TPA 350FIN P P TPA TPA TPA TPA TPA TPA 352FIN P P TPA TPA TPA TPA TPA TPA 354FIN P P TPA TPA P TPA TPA TPA TPA 20

21 Learning to Learn Working with Others Problem Solving and Innovation Capability Outlines (from the Code of Practice for Academic and Skills Development) Students should be able to: Be ready to accept responsibility for their own independent learning. They should also be able to reflect on their learning and appraise their capabilities and achievements. Students should also be able to identify their individual needs for effective learning. Work effectively as part of a group, and respect the dignity, rights and needs of others. Use problem-solving skills in a variety of practical situations. They should be able to demonstrate creativity, flexibility, perception, decisiveness, confidence and an awareness of values. Experienced/demonstrated by: Formative assessments in relevant modules. Seminar contributions, group assessments, presentations, online discussions Workshops, seminars, projects, presentations, coursework Numeracy Interpret, analyse and present numerical data. Workshops, seminars, phase tests, projects IT and Online Learning Use computer-based systems for learning, communicating, collaborating with peers and tutors, and working with data. Communication Communicate effectively in appropriate forms in a wide variety of situations. Career Management Appreciate the values, culture, structure and process of work organisations relevant to their area of study. Students should also appropriately match their experience and academic achievements to employer expectations. CBL packages, directed study, online discussion groups, all coursework Seminar contributions, all coursework, presentations Study of indicative content of modules, external speakers, placement year, careers events, short-term work experience. Information Management Personal Development Planning Carry out research relevant to their field of study by retrieving and using information drawn from a variety of resources. Demonstrate self-awareness, set personal goals and record achievement. Seminars and workshops, coursework, Literature reviews, projects. Employability modules 21

22 Part 2: Supporting Information for BA Finance and Investment 1. Relationship to the QCF The following table demonstrates how the intended learning outcomes relate to the relevant qualification descriptor in the Framework for Higher Education Qualifications in England, Wales and Northern Ireland: QCF1 QCF2 QCF3 QCF4 QCF5 QCF abilities KU1 KU2 a, b, d KU3 c KU4 c KU5 KU6 c KU7 b KU8 b CS1 b CS2 b, d CS3 a, b, d PS1 a, b, c, d PS2 a, d PS3 a, d PS4 c PS5 b, d TS1 a, d TS2 a, c TS3 a, c, d TS4 a, b, c TS5 b, c, d Intended Learning Outcomes of BA Finance and Investment KU1 the functions of financial services. KU2 KU3 KU4 the ability to structure and evaluate the retail financial products, services and strategies available to individuals. the ability to communicate information about financial products, services, and strategies. an understanding of the decision-making processes of individual investors and borrowers. 22

23 KU5 an understanding of some of the contexts in which financial services can be seen as operating (examples of contexts include the regulatory, economic, financial, demographic and social environments). KU6 knowledge and understanding of the main current technical language and practices of financial services in the UK; KU7 knowledge and understanding of some of the alternative theoretical models (for example, alternative approaches to investment management, asset valuation, and risk management). Ability to critically evaluate the theories; KU8 knowledge and understanding of empirical evidence concerning financial services and the ability to critically evaluate such evidence. CS1 Critically evaluate arguments and evidence. CS2 Analyse and draw reasoned conclusions concerning structured and unstructured problems from sets of data. CS3 Formulate research questions and select appropriate research methods. PS1 Analyse and produce financial solutions to client needs. PS2 Structure institutional investment products. PS3 Manage portfolios of institutional, and direct, investment products. PS4 Communicate the nature of products, strategies and solutions to clients. PS5 Monitor financial markets and make adjustments to portfolios and strategies in the light of new information. TS1 Locate, extract and analyse data from multiple sources, including the acknowledgement and referencing of sources TS2 Demonstrate appropriate numerical and statistical skills to enable the manipulation and presentation of financial and other numerical data TS3 Use information and communications technology to acquire, analyse and communicate information TS4 Effectively present quantitative and qualitative information, together with analysis, argument and commentary, in a form appropriate to the intended audience TS5 Work effectively in groups and demonstrate a critical appreciation of others ideas and contributions Qualifications and Credit Framework Descriptor for a qualification at Honours (H) level: Bachelors degree with Honours Honours degrees are awarded to students who have demonstrated: QCF1: a systematic understanding of key aspects of their field of study, including acquisition of coherent and detailed knowledge, at least some of which is at or informed by, the forefront of defined aspects of a discipline; 23

24 QCF2: an ability to deploy accurately established techniques of analysis and enquiry within a discipline; QCF3: conceptual understanding that enables the student: to devise and sustain arguments, and/or to solve problems, using ideas and techniques, some of which are at the forefront of a discipline; and to describe and comment upon particular aspects of current research, or equivalent advanced scholarship, in the discipline; QCF4: an appreciation of the uncertainty, ambiguity and limits of knowledge; QCF5: the ability to manage their own learning, and to make use of scholarly reviews and primary sources (e.g. refereed research articles and/or original materials appropriate to the discipline). Typically, holders of the qualification will be able to: a apply the methods and techniques that they have learned to review, consolidate, extend and apply their knowledge and understanding, and to initiate and carry out projects; b critically evaluate arguments, assumptions, abstract concepts and data (that may be incomplete), to make judgements, and to frame appropriate questions to achieve a solution - or identify a range of solutions - to a problem; c communicate information, ideas, problems, and solutions to both specialist and nonspecialist audiences; and will have: d qualities and transferable skills necessary for employment requiring: the exercise of initiative and personal responsibility; decision-making in complex and unpredictable contexts; and the learning ability needed to undertake appropriate further training of a professional or equivalent nature. Attention has been paid to the curricula which form the basis for the professional qualification assessments of the Institute of Financial Services and the Chartered Insurance Institute. 24

25 2. Teaching and Learning Strategy Increasingly individuals are expected to take personal responsibility for their financial wellbeing; in particular financial preparation for retirement is becoming individualised as employers and the state reduce their commitments. The need for financial advisers is therefore likely to increase. In the UK, financial advisers are concentrated in the 50+ age groups. Openings for young graduates will be considerable. To quote from: New opportunities in financial advice/planning with the CII, published by the CII (Chartered Insurance Institute) (downloaded ). There will be many opportunities in this emerging profession for students graduating in 2012 and 2013, as a result of the FSA-led Retail Distribution Review (RDR). The RDR has raised the bar of qualifications required to practice as a financial adviser/planner, and as a result many practitioners will leave before the end of next year. Thus new graduates, as well as those who have graduated in the last three years, have an increased chance of entering the sector. The BA Finance and Investment is a vocationally orientated course that aims to educate students for careers as personal financial advisers; the course is therefore performative 1. There is a professional qualification stream of modules (153FIN, 253FIN, 359FIN), leading to the Certificate for Financial Advisers awarded by the Institute of Financial Services. This professional qualification considerably facilitates the process of moving into the personal financial advice profession 2. Staff teaching on the course includes two practising financial advisers who are able to bring their experience into the teaching and learning context, and are in a strong position to engage students in experiential and problem-based learning. The sequence of modules 150FIN (Introduction to Personal Finance), 251FIN (Financial Services), and 354FIN (Insurance and Pensions) provide a core stream of modules that are taught by people with experience in the industry and which support the preparation of students for their professional qualification examinations. This stream of modules, along with the stream of professional qualification modules, enhances the professional competence of students as prospective participants in the personal financial advice industry 3. An issue with performative education concerns the focus of the teaching and learning process. For example in relation to degrees in business studies there has been debate as to whether students learning should be for business or about business 4. The BA Finance and Investment aims to enable students to learn both for financial decisions and about financial decisions. This is achieved by supporting the more directly vocational modules by modules with a stronger academic bias such as 250FIN (Principles of Financial Investment), 350FIN (Investment Analysis), and 352FIN (Portfolio Management). Arguably every profession has its own set of threshold concepts that are shared amongst members of that profession 5. Although there is not yet an established set of threshold concepts relevant to personal financial advice, it is certainly the case that the relevant threshold concepts would not be limited to finance alone. Subjects such as economics, statistics, marketing and accounting provide relevant threshold concepts. All students take two economics modules 116ECN (Introduction to Business Economics) and 226ECN (Economics of Banking and Finance); a statistics module 102ACC (Data Analysis Skills for Finance and Accounting); the marketing module 105MKT (Marketing Essentials) with the potential of 25

26 following a marketing stream through the options 210MKT (Marketing Planning), 211MKT (Buyer Behaviour) and 303MKT (Services and Retail Marketing); and an accounting module in the form of 285ACC (Business Accounting). There are options at level 3 that permit areas of specialisation that correspond to possible areas of specialisation of financial advisers namely 322ECN (Corporate Governance and Ethics), 353FIN (International Finance), 357FIN (Financial Management), and 300ECN (Advanced Issues in Banking). The optional dissertation module 385ACC (Advanced Studies for Accounting and Finance) presents the possibility of a capstone module that integrates learning from other modules and offers the facility of developing beyond the existing multidisciplinary approach to an interdisciplinary, or even trans disciplinary, level 6. Case studies based on the professional experience of members of staff could prove to be suitable for such a capstone module. A degree course is different to a professional qualification programme. A degree course not only imparts knowledge but also develops the student along a number of cognitive dimensions. These dimensions include the development of the ability to critically evaluate, and the ability to self-direct learning. These personal developments are supported by the development of skills such as literature search, and of attitudes that support enquiry and innovative approaches to problem-solving. The achievement of these aims is facilitated by means of an integrative approach explicitly supported by the academic personal tutorial process. As well as the integration between modules at each stage, the capacities of evaluation and self-directed learning are progressively developed across stages. Practising professionals present modules and participate in the academic personal tutorial process. This role of practising professionals helps to motivate students and to maintain the focus of the course on its aim of educating students to become successful professionals themselves. Teaching staff have not only published books on personal finance but also have published in relevant journals such as the Journal of Financial Service Professionals, the Journal of Financial Planning, and Money Management. These publications are used in the teaching and learning process. Footnotes 1 Barnett, R., Parry, G. and Coate, K. (2001). Conceptualising Curriculum Change, Teaching in Higher Education, 6 (4), Goetz, J. W., J.W. Tombs, and V.L. Hampton (2005). Easing College Students Transition into the Financial Planning Profession, Financial Services Review, 14, Warschauer, T. (2002). The Role of Universities in the Development of the Personal Financial Planning Profession, Financial Services Review, 11(3), Macfarlane, B. (1997). The Business Studies First Degree: Institutional Trends and the Pedagogic Context, Teaching in Higher Education, 2(1), Meyer, J. H. F. and Land, R. (2005). Threshold Concepts and Troublesome Knowledge (2): Epistemological Considerations and A Conceptual Framework for Teaching and Learning, Higher Education, 49, Harden, R.M. (2000). The Integration Ladder: a Tool for Curriculum Planning and Evaluation, Medical Education, 34, pp

27 3. Assessment Strategy The assessment aims to be balanced, not only between formative and summative assessment but also between different forms of summative assessment. It is recognised that assessment is part of the learning process. Through the incorporation of case studies and problem-solving in the assessment students are given the opportunity to apply their knowledge and understanding. Assessments have been designed to provide opportunities for students to demonstrate achievement of all the module and course intended learning outcomes. In order to ensure transparency all assessment criteria are provided for each and every module. The strategy is influenced by the Faculty Assessment and Feedback Strategy, as outlined in Appendix 1. Appropriate workload both within modules and across the course In order to ensure that each student s assessment workload is consistent the assessment strategy for each module follows the Tariff Scheme developed and adopted by the Faculty of Business, Environment and Society. This scheme provides guidance on the appropriate burden and balance of assessment at different stages of the semesterised course. There is a range of formative and summative assessment methods to address the issues of varying learning styles of students. Deadlines for coursework are communicated well in advance and are included in the module guide provided at the beginning of the module. The course manager is responsible for ensuring that pinching points for assessments during the semester are avoided. High quality feedback/feedforward in the learning process An appreciation of the vital role that high quality feedback plays in the learning process underpins the design of assessment activities. For feedback to be effective it is timely, regular, both verbal and written, and dialogic. Early formative and summative assessments during the semester are also implemented, particularly on stage one of the course in order to ensure early (timely) feedback and guidance for students who are in transition to HE. Details of how feedback will be returned will be in the module guide. Feedback is prompt, with written work being returned within two weeks. Evidence suggests immediate verbal feedback, even if it is basic, is more effective than detailed written feedback at a later date. Thus, regular immediate and dialogic feedback is a major element of the course s teaching and learning strategy and feedforward is provided to help students prepare for summative assessments. Across the course feedback is provided widely through a range of different learning environments including interactive lectures, workshops, academic personal tutorials, feedback days in early July and through CU-Online, including e-assessment. 27

28 Develop the students self-evaluative ability The assessment method enables students to develop their ability to self-evaluate their own work and that of their peers, which is vital in order to aid progression from stage 1 to stage 3 of the course. In order to achieve this it is crucial that there is a shared understanding between the tutor and students of the standard of high quality work. One example is students review past coursework essays in groups, while referring to the written assessment criteria, in order to gain a better understanding of the difference between high quality and low quality work. This active learning environment aims to also encourage students to gain a better understanding of the assessment criteria for their own work. Assessing students fairly The assessment process is designed to ensure that it impartially measures student learning and achievement throughout the course. A range of different assessment methods are used across each of the courses both to support the development of a variety of skills and knowledge, and to take into account the different learning styles of the students. This is shown in the assessment map. In assessments with group work and presentations guidance is given both on working as a group and on presentation skills before the assessment. The method for the allocation of marks for group work is transparent, including a method to re-allocate marks to reflect a differential contribution if necessary. In order to discriminate between categories of student performance the teaching team has accepted and implemented the following criteria which is informed by the University s Assessment Strategy. Class Mark range Guidelines Class I % 80 89% 70 79% In addition to that for 70 79% below, an outstanding answer that could hardly be bettered. High degree of understanding, critical/analytic skills and original research, where specified. Outstanding in all respects. In addition to that for 70 79% below, the answer will demonstrate an excellent level of understanding, presence of clear description, critical/analytical skills or research, as appropriate. Answer will demonstrate clear understanding of theories, concepts, issues and methodology, as appropriate. There will be evidence of wide-ranging reading and/or research, as appropriate, beyond the minimum recommended. Answers will be written/presented in a clear, well-structured way with clarity of expression. At level 3, evidence of independent, critical thought would normally be expected. 28

29 Class Mark range Guidelines Class II : I 65 69% 60 64% Answer demonstrating a very good understanding of the requirements of the assignment. Answer will demonstrate very good understanding of theories, concepts, issues and methodology, as appropriate. Answer will be accurate/appropriate, with few errors. Little, if any, irrelevant material may be present. Reading beyond the recommended minimum will be present where appropriate. Well organised and clearly written/presented. A good understanding, with few errors. Some irrelevant material may be present. Well organised and clearly written/presented. Some reading/research beyond recommended in evidence. Class II : II 55 59% 50 54% Answer demonstrating a good understanding of relevant theories, concepts, issues and methodology. Some reading/research beyond that recommended may be present. Some errors may be present and inclusion of irrelevant material. May not be particularly well-structured, and/or clearly presented. Answer demonstrating a reasonable understanding of theories, concepts, issues and methodology. Answer likely to show some errors of understanding. May be significant amount of irrelevant material. May not be well-structured and expression/presentation may be unclear at times. Class III 45-49% 40 44% An understanding demonstrated, but may be incomplete and with some errors. Limited use of material with limited reading/research on the topic. Likely to be poorly structured and not well-expressed/presented. Irrelevant material likely to be present. Basic understanding demonstrated, with some correct description. Answer likely to be incomplete with substantial errors or misunderstandings. Little use of material and limited reading/research on the topic in evidence. May be poorly structured and poorly expressed/presented. Some material may be irrelevant to the assignment requirements. Marginal fail 35 39% Some relevant material will be present. Understanding will be poor with little evidence of reading/research on the topic. Fundamental errors and misunderstanding likely to be present. Poor structure and poor expression/presentation. Much material may not be relevant to the assignment. 29

30 Class Mark range Guidelines Fail 30 34% Inadequate answer with little relevant material and poor understanding of theories, concepts, issues and methodology, as appropriate. Fundamental errors and misunderstandings will be present. Material may be largely irrelevant. Poorly structured and poorly expressed/presented % 0 19% Clear failure to provide answer to the assignment. Little understanding and only a vague knowledge of the area. Serious and fundamental errors and lack of understanding. Virtually no evidence of relevant reading/research. Poorly structured and inadequately expressed/presented. Complete failure, virtually no understanding of requirements of the assignment. Material may be entirely irrelevant. Answer may be extremely short, and in note form only. Answer may be fundamentally wrong, or trivial. Not a serious attempt. The assessment strategy will be further informed by the BES Faculty Assessment and Feedback Strategy as detailed in Appendix I. 4. Course Management There is a course manager, who is assisted by a colleague with specialist knowledge of the course. The academic tutorial system is also used, particularly in relation to the professional qualification dimension of the course; this aspect is supported by an HPL who is a practicing financial adviser. The course manager has overall responsibility for course design and delivery. In addition, the course administrator, staff in the Student Support Office (SSO) and individual student mentors can also offer support to students. This structure is communicated to the students during induction week and is outlined in the student Handbook, which is made available in hard copy and via the VLE. The key responsibilities of the course manager have been determined at faculty level and are as follows. To oversee the running of the course. To produce course documentation, and update for changes. To head the development for revalidation of the course. To coordinate the development of the course. To co-ordinate and manage the course tutors. To provide support in relation to student advice/ appeals. To represent the course on Faculty and University committees. To become involved in/ lead course initiatives. 30