Faculty of Business Computing and Law Bachelor of Arts (Honours) in Banking and Finance (Top-up) Programme Specification Valid from September 2012 JACS code N310 N300 N342 Programme code N3N1 Valid for delivery at University of Derby (Kedleston Road)
SECTION ONE: GENERAL INFORMATION Programme Title BA (Hons) Banking and Finance Award title BA (Hons) Banking and Finance BA Banking and Finance Mode of Study Full-time and part-time Programme start date/review date Start date: September 2012 Period of Validation: indefinite Awarding Institution University of Derby Faculty Managing the Programme Faculty of Business, Computing and Law Institution Delivering the Programme University of Derby Relevant external subject benchmark statement(s) QAA Subject benchmark statement for general business and management (2007) QAA Subject benchmark statement for finance (2007) JACS Code N310 N300 N342 Programme specification last updated June 2012 1
SECTION TWO: OVERVIEW AND PROGRAMME AIMS Overview In the past, Derby Business School recognised new opportunities in the increasingly internationalised business environment for top up programmes designed to increase student choice and flexibility in studying and choosing a career path. Now we are responding to perceived student preferences and redesigning the top up programmes we offer into 20 credit modules, but also looking for additional opportunities. This top up programme is a new addition which has been designed in direct response to marketing information from Derby University International Office. The information suggesting strong demand from international business students (particularly in Vietnam) for top up programmes in Banking and Finance. The BA Banking and Finance programme seeks to enhance the students choice for an undergraduate degree qualification by specialising in aspects of international of banking and business finance. The programme is intended for students who have already completed a sub-degree programme, such as a Higher National Diploma, Foundation Degree or equivalent, and who wish to further their studies to Honours degree level. By definition, banking and business finance are global business activities. The one-year top up programme addresses the needs of those who have a background in business or finance but want to focus on the role and activities of banks, financial market organisations, and international business financial strategy. It builds upon previously acquired business, economic and finance knowledge and skills, focusing on the complexity of the global business finance environment and practice of international banking. It is not an accounting degree and does not aim to prepare students for professional qualifications in accounting. Finance refers to financial strategy and the economics of financial decision making for businesses that trade domestically and internationally. Banking refers to the economics of banking, the role and regulation of banking internationally, and impact of banking on business in a global environment. The programme has an academically challenging curriculum centred on a strong core of economics, international financial strategy and finance. The distinctive approach of the curriculum is the focus on interdisciplinary analysis and the international context in which banking and financial activities occur. The diversity of the programme and the accent put on international issues make it attractive to both domestic and international students. In addition, our programme has a distinctive focus on employability skills. Teaching, learning and assessment are geared to developing the academic knowledge alongside networking and the practical skills for employability. Top up students can also continue their studies at post graduate level through the MSc International Business and Finance. This post graduate programme broadens the focus to international business finance and the role and impact of financial markets on international business activity. Programme Aims This programme in banking and finance meets the needs of an important market for international students whilst still addressing the needs of the UK and EU nationals. The programme aims to prepare students for employment in banking and finance, and in all types of business organisations trading internationally who need to design and implement financial strategies for risk management. These might be large or small scale organisations, including business start ups and business consultancy. The programme aims to expand the 2
career choice into business finance for students who will normally have a general background in business education. The top us is designed for UK, EU and overseas students who have been unable to pursue a full degree programme in Banking and Finance. The aims of programmes within the Undergraduate Business Programme scheme in the Derby Business School consist of generic aims common to all programmes, which are then supplemented by programme specific outcomes. The generic aims have been derived from the three purposes of business and management programmes listed in the QAA Business benchmark statement, 2007. The generic Business Aims applying to this programme are: To prepare a student for a career in business in a rapidly changing international business, banking and financial environment. To provide a challenging, integrated programme of study that equips students with a sound general knowledge of financial organisations, their financial management and the global environments in which they operate. To progressively develop cognitive, intellectual and practical skills within a relevant business and financial context. To offer students an opportunity for work based learning with an appropriate business or financial environment. To progressively develop personal transferable skills as a foundation for lifelong learning and successful employment in business and financial organisations. The specific programme aims are: To expand student career choice and employability in the modern international banking and finance sectors To enhance student employability by providing a solid understanding of the economic, regulatory and institutional framework in which banking and business finance operates. To provide students with the required intellectual and analytical skills to solve business and economic problems within a banking and finance context To develop the practical and transferrable skills to underpin life long learning in a career in international business, banking or finance. 3
SECTION THREE: PROGRAMME LEARNING OUTCOMES Because this programme is specifically geared to banking and finance, the programme outcomes reflect the subject benchmarks listed in the QAA Finance benchmark statement, 2007, as well as the generic business and management benchmarks. The four sections below detail the programme learning outcomes. The sectioned structure is drawn directly from the level 6 statements in the National Qualifications Framework as is the case for all the Business School programme aims. The specific focus within each section of the structure reflects the QAA Business and Management generic aims for the programme but also the QAA Finance benchmark statements, 2007. The QAA Finance benchmarks are: To demonstrate at an appropriate level: o understanding of the economic, regulatory and institutional framework in which banking and business finance operates. o knowledge of the main theories used in banking and finance and a basic ability to apply them o ability to interpret basic financial data and analysis and relate empirical evidence to theory o understanding of the workings of capital markets and the principals of investment o ability to use and interpret the information in financial statements o required cognitive abilities and skills for analysing business and economic problems within a banking and finance context Knowledge and Understanding 1. The research, analysis and critical evaluation of concepts, theories and techniques in banking, finance, international economics. 2. Strategic decision making processes and problem solving in banking and finance in an international context. 3. The activities of banking and financial markets in a global economy. 4. The continuing development of specialist academic skills. 5. Managing and developing self-managed learning when carrying out independent study Cognitive/Intellectual Skills 1. Critically evaluate theories, arguments and evidence. 2. Apply academic theory to practical examples. 3. Exhibit the ability to analyse and draw conclusions from sets of data. 4. Demonstrate an independence of thought in developing solutions to a range of banking and business finance related problems. Practical Skills 1. Location, extraction and analysis of research data, appropriately referenced 2. Plan, conduct and report a programme of individual research, exhibiting correct referencing and bibliographic skills. 3. The ability to manipulate and interpret financial and other numerical data Transferable Skills Students will demonstrate ability to 1. Communicate ideas effectively, both orally and in writing. 2. Manage time and work to deadlines. 3. Use information technology to retrieve, analyse and present data. 4. Work effectively and constructively as part of a group. 5. Work independently, demonstrating self-direction. 4
6. Self-appraise and reflect on the application of theory to practice. A Curriculum Map showing how the modules support Programme Learning Outcomes is shown in Appendix 1. 5
SECTION FOUR: PROGRAMME STRUCTURE Structure and Curriculum Autumn Semester Spring Semester International Business Economics and Banking 40 credits Financial Statement Analysis Investing and Financial Markets International Business Performance Appraisal 1 Financial Risk Management Formatted: Font: Bold Formatted Table Formatted: Left Formatted: Font: Bold The Programme is designed to develop an interdisciplinary understanding of banking and finance from the perspective of international business. For this reason it is constructed to ensure overall that students can acquire the knowledge and skills in the three main areas identified by QAA Business and Management subject benchmarks but also those from the QAA Finance subject benchmarks: The three main areas identified by the QAA Business subject benchmarks are: Organisations (O) External Environment (E) Management (M) The three main areas identified by the QAA Finance subject benchmarks are: Global and regulatory context (GR) Financial economic theory and analysis (FE) Business finance theory and practice (BF) The programme modules are listed below, bearing indicators O (organisations), E (external environment) and M (management) for business and management subject benchmarks, and GR (Global and regulatory context), FE (Financial economic theory and analysis) and BF (Business finance theory and practice) for finance subject benchmarks. A Curriculum Map showing how the modules support Programme Learning Outcomes is shown in Appendix 1. Level 6 Module title Indicators Credits Status International Business Economics and Banking GR, FE, E, M 40 Core BF Financial Statement Analysis FE M, O 20 Core International Business Performance Appraisal 1 GR, BF M, O 20 Core Investing and Financial Markets GR,FE O, E 20 Core Financial Risk Management GR, FE BF E, M 20 Core 6
Economic, regulatory and institutional issues Theory and application in banking and finance Financial data interpretation/analysis Capital markets and investment Financial statements Analysis skills To demonstrate that the curriculum meets the specific subject outcomes for the QAA Finance benchmarks, the following table maps these to each module. As above, they are: To demonstrate at an appropriate level: o o o o o o understanding of the economic, regulatory and institutional framework in which banking and business finance operates. knowledge of the main theories used in banking and finance and a basic ability to apply them ability to interpret basic financial data and analysis and relate empirical evidence to theory understanding of the workings of capital markets and the principals of investment ability to use and interpret the information in financial statements required cognitive abilities and skills for analysing business and economic problems within a banking and finance context Module title International Business Economics and x x X x Banking Investing and Financial Markets x x x x X Financial Statement Analysis x x x X International Business Performance x x x X Appraisal 1 Financial Risk Management x X x x Study Mode Full time September start students will commence in the Autumn semester and progress as shown in the diagramme. Full time January start students, will commence in the Spring semester, studying the international banking component of the 40 credit module, alongside the other two spring semester modules. They complete the first part of the 40 credit module and the remaining modules in the Autumn semester of the following academic year. Part time students are only able to take modules timetabled for full time study but they choose to progress at a slower rate, taking fewer than 3 modules per semester with either September or January start. Formatted: Font: Not Bold 7
Personal Development Planning (PDP) PDP is embedded in the modules on the programme as they will require students to reflect on their own development, abilities and knowledge and apply themselves to projects and problems dealing with real banking and finance issues. The PDP process is managed overall by a personal tutor system based on regular meetings between students and core team staff. Learners will be encouraged to reflect on their general development and needs, document their progress and provide evidence of their progress in personal tutor meetings. This will create a useful log that students can use for job applications and CV development. The students will also be encouraged in personal tutor meetings to use and log contacts with the student career service provision and the School s Centre for Enterprise. In addition, students will be given the opportunity to arrange individual meetings with Financial Specialist Recruiters, Macildowie.. 8
SECTION FIVE: PROGRAMME DELIVERY Learning and Teaching Methods The programme employs a variety of teaching and learning methods aimed at enabling the students to achieve the learning outcomes. Most modules will feature the usual structure of theoretical and evidence based lectures followed by seminars focused on practical applications and discussions. Investing and Financial Markets will feature special sessions conducted by leading financial market specialists and practitioners. Guest speaker sessions will also be used in the International Business Economics and Banking. Practical skills will be developed in seminars involving interactive case-studies analyses and discussions which will require application of research and analytical skills. Modules like Investing and Financial Markets will specifically employ computer lab sessions to develop portfolio management skills and external speakers to develop networking and summary skills. Financial Risk Management will develop student skills in developing business strategy in risk management. Students will be offered opportunities to work with small scale local business to develop their awareness of aspects of financial risk management through the School s Centre for Enterprise. International Business Economics and Banking will feature student-led tutorials to develop independent learning and presentation skills. All modules will contribute to the continuing development of specialist academic skills. Independent learning and self-management will be consistently encouraged throughout the programme though the teaching methods. Specifically modules like International Business Economics and Banking use sessions throughout the year to develop data gathering, interpretation and analysis skills, although these are also present in the other modules. In the first instance, we are expecting a student cohort mainly comprising students from Vietnam who have completed an HND in Business and Finance or Banking and Finance. To ensure these students get a varied study experience, the programme leader will mix the students across tutorial groups in modules where they study with other students. The first semester of the International Business Economics and Banking 40 credit module is shared with the students on International Business and International Business and Finance top ups. The intention is to spread the cohort on Banking and Finance across the tutorial groups so that they meet, network and study with the very wide international student cohorts on the top ups. They will also experience working with International Business and Finance top up students and UK students in the shared modules which are options for BA (Hons) Business studies such as Financial Statement Analysis and International Business Performance Appraisal 1. All students are required to comply with research governance and ethics principles whilst undertaking their programme of study. This is of particular importance when conducting research involving other people e.g. for module assessments or Independent Studies. Information on these principles can be found on the University web site at www.derby.ac.uk/research/ethics Field Code Changed Assessment The programme modules use a large range of assessment methods (coursework and examinations, formative and summative assessments) that allow students to demonstrate their knowledge and skills and meet the programme aims. Feedback will be provided in contact time sessions as well as through early formative assessment in every module, and through summative assessment in order to enable students to monitor their own progress and development. 9
The modules feature a balanced assessment strategy. All modules have integrated formative assessment to be undertaken before the sixth week of teaching. The formative assessment is linked to the summative assessment to give students a guide to their performance and to give tutors feedback on how to develop student learning and practice before completing summative assessment. The summative assessments are designed to achieve module learning outcomes, linked to the programme outcomes which are subject specific and also generic. All assessments cover subject area knowledge and understanding, and cognitive/intellectual skills. In addition, reports, summaries, company and data based analysis, group work and presentations cover practical and transferrable skills. The assessment structure is as follows: International Business Economics and Banking (40 credit)- group presentation, computer test, essay and a report Investing and Financial Markets - computerised test and written evaluation of portfolio analysis, external speaker summary and written analysis of related financial crisis issue Financial Statement Analysis financial report Financial Risk Management computer test and a developed risk management strategy for a company International Business Performance Appraisal 1 - Presentation of a business performance appraisal issue and an essay evaluating a specified business performance appraisal topic To meet the aims relating to independent study and employability, the written module assessments in International Business Economics and Banking are designed to build independent learning over the year, so that students can develop the ability to collect, analyse and present their work. This is also reflected in modules such as Financial Statement Analysis, Financial Risk Management and International Business Performance Appraisal 1, but over a semester time period. This programme operates within the University s Regulatory Framework and conforms to its regulations on assessment. 10
SECTION SIX: ADMISSIONS Entry requirements The programme aims to attract a wide range of applicants within the context of the University s Mission Statement and equal opportunities policy. Standard entry applications will be dealt with by the University admissions department who check validity of qualifications. Entry requirements for the programmes will normally include a Higher National Diploma, or equivalent, such as a Foundation Degree, in appropriate subjects such as Business Management, Finance and Accounting. An overseas student will be able to gain entry to the Programme if his/her qualification is deemed equivalent to the standard entry requirements by the admissions department. Applicants whose first language is not English will be required to have an I.E.L.T.S. score of 6.0 or equivalent. Students applying with non-standard qualifications will also be considered - for example, mature students with relevant work experience and students with alternative degrees. These applications will be considered by the admissions department and the programme leader to judge whether prior experience and qualification are equivalent to the standard entry requirements. We welcome and encourage applications from people of all ages as long as they can be considered adequately prepared to succeed on the programme. If students have few or no formal qualifications, they may be able to gain entry to the programme if they have the required communication and learning skills as well as the knowledge, experience and motivation to succeed. Within the context of the University s Mission Statement and equal opportunities policy, the programme aims to attract a wide range of applicants. Entry requirements for the programmes will normally include a Higher National Diploma, or equivalent, such as a Foundation Degree, in an appropriate subject such as Business Management, Finance and Accounting. Mature students with relevant work experience will also be considered. Students will be counselled as to choice of module options depending upon background knowledge, previous experience and mathematical ability. An overseas student will be able to gain entry to the Programme if his/her qualification is deemed equivalent to the departmentabove and will be admitted under the University s APL regulations. Examples of these qualifications will include the DUT, DEUG and BTS from France which are all classified as BAC+2 which is the French equivalent level of a Foundation Degree. Applicants whose first language is not English will be expected to provide evidence of competence in spoken and written English, as well as evidence of appropriate reading and listening skills. This will normally equate to an I.E.L.T.S. score of 6.0 or equivalent. If it is not possible to gain entry directly to the programme, a student may be able to enter the programme after successfully completing a bridging programme of study, which can be determined on an individual basis. General admissions information can be found at: http://www.derby.ac.uk/general-entry-requirements http://www.derby.ac.uk/undergraduate/general-entry-requirements/general-entryrequirements-bachelors-degrees Formatted: English (U.K.) Formatted: English (U.K.) Formatted: English (U.K.) Formatted: English (U.K.) Formatted: English (U.K.) 11
SECTION SEVEN: STUDENT SUPPORT AND GUIDANCE Students benefit from an induction programme where they are given a programme handbook that details all the essential information about the programme and the support provided for learning. Induction is particularly important on a top up programme, where students may have no prior knowledge of the University or the UK study environment. All students will attend an induction in the week prior to the start of their first semester (whether September starters or January starters). Induction deals with University practice and regulation, study facilities and support, programme issues and processes. In addition, sstudent activities have also been designed to help students identify students personal development and study needs. who may need additional support for study skills and language development. Personal tutors will meet with all students during induction to assess their needs and direct them to the additional support available during the taught semester. This process continues with ongoing personal tutorship. The additional support includes free English Language Development throughout the year, the support of student mentors, and additional study skills support sessions for international students already provided within the Business School. Student progress is tracked through personal tutor meetings and use of PDP tools such as Blackboard journal. A second port of call for students is the University central Student Support Services which offers a range of general, specialist and professional support services for students as detailed in the programme handbook. Further specific support and guidance is available from the programme administrative team. The programme is managed by a Programme Leader, who is responsible for the effective management of the programme in accordance with University procedure including the provision of an overall framework for support for students undertaking the programme. The Programme Leader acts as personal tutor (alongside members of the core team) and also undertakes the role of Admissions Tutor, being responsible for the co-ordination of all the admissions requests received from the University Admissions department for potential students for the programme. The Programme Leader will provide students with advice on academic matters such as option module choice. Further aspects of student support were detailed in the section on PDP above. Module Leaders ensure that University policies and procedures are implemented in the delivery of the modules for which they are responsible. The Module Leader is responsible for the preparation of the module; including production of the Module Handbook, co-ordinating and planning the teaching schedule with the module teaching team. They are responsible for the academic health of the module and for notifying the Programme Leader of any specific module issues. 12
SECTION EIGHT: POST PROGRAMME OPPORTUNITIES Post-Programme Opportunities The programme is designed to provide students with the practical skills and knowledge that make them immediately employable in banking or finance as well as general business. The honours degree will also enhance the career prospects of students who are already employed. Further, for students wishing to pursue post-graduate studies, successful completion of the programme will enable them to apply for further qualifications such as the MSc International Business and Finance offered by the University of Derby. SECTION NINE: EMPLOYER LINKS Employer Links Employer needs and opinions have been taken into account in the development of the programmes. Where possible, efforts are made to involve employers in the delivery of programmes by involving them as visiting speakers to enhance vocational relevance and application. Particular attention has been paid to contacting the UK Financial Sector Skills Councils, Lloyds Bank and other professional bodies to elicit and take into account the views of relevant employers. Access to finance specialists in international banking and finance are provided through links with City financial sector organisations such Lloyds bank, the Shadow Monetary Policy Committee, the Bank of England (Midland branch) and the Derby Business School visiting professors. In addition, students will be offered opportunities to undertake virtual placements with small and medium sized enterprises trading internationally. These virtual placements involve students in short term relationships with SMEs in the region through the Centre for Enterprise within the Business School. The students can undertake small projects for these enterprises that would otherwise not be done and use these as the basis for assessments. Examples might be to undertake a basic financial analysis, a currency market risk evaluation for a new market, develop a short guide to financial risk management indicators, or suggest ideas for funding strategies. 13
The research, analysis and critical evaluation of concepts, theories and techniques in banking, finance, international economics. Strategic decision making processes and problem solving in banking and finance. Managing and developing self-managed learning when carrying out independent study The activities of business and financial markets in a global economy The continuing development of specialist academic skills. APPENDIX 1 Curriculum Outcome Against Modules Mapping for BA (Hons) Banking and Finance (Top up) Knowledge and Understanding Module title Investing and Financial Markets Financial Statement Analysis International Business Economics and Banking International Business Performance Appraisal Financial Risk Management x x x x x X x x x X x x x x x x x x x x x x x 14
Critically evaluate theories, arguments and evidence Apply academic theory to practical examples Exhibit the ability to analyse and draw conclusions from sets of data Demonstrate an independence of thought in developing solutions to a range of business-related problems Cognitive/Intellectual Skills Module title Investing and Financial Markets x x x x Financial Statement Analysis x x x x International Business Economics and Banking x x x x International Business Performance Appraisal 1 x x x x Financial Risk Management x x x x 15
Location, extraction and analysis of research data, appropriately referenced Plan, conduct and report a programme of individual research, exhibiting correct referencing and bibliographic skills The ability to manipulate and interpret financial and other numerical data Practical Skills Module title Investing and Financial Markets x x x Financial Statement Analysis X x International Business Economics and X x x Strategy International Business Performance X x Appraisal Financial Risk Management x x x 16
Communicate ideas effectively, both orally and in writing Manage time and work to deadlines Use information technology to retrieve, analyse and present data Work effectively and constructively as part of a group Work independently, demonstrating selfdirection Self-appraise and reflect on the application of theory to practice Transferable Skills Module title Investing and Financial Markets x x x x x Financial Statement Analysis x x x x x International Business x x x x x x Economics and Strategy International Business x x x x Performance Appraisal Financial Risk Management x x x x x 17