Modules for course N3AJ | MSC/FINANCE
This is a provisional list of modules to be offered on this course in the 2019–20 academic year.
The list may not be complete, and the final course content may be different.
- ASB-4125: Invstmt Strat & Portfolio Mgmt (15)
- ASB-4403: Int'l Financial Markets (15) An overview of financial markets and instruments; Review of the concepts of risk and return; Portfolio theory and diversification; The capital asset pricing model; Other asset pricing models; Efficient markets, behavioural finance and anomalies; Hedging, speculation and arbitrage; Foreign exchange and derivative markets; Option characteristics and option pricing; Forwards, futures and swaps.
- ASB-4416: Credit Risk Analytics (15) Valuation of financial cash flows and rates of return; Expected return models and event studies in finance; The Law of One Price in finance and pricing financial claims via arbitrage; Portfolio theory and the modelling of investment portfolios; Value at Risk; Bootstrap methods; Brownian motion; Monte Carlo methods in finance; Pricing financial claims via replication and Black-Scholes option pricing.
- ASB-4101: Research Methods (15) Describing and summarising data; Probability and probability distributions; Principles of statistical inference; Correlation and regression analysis; Regression models for panel data.
- ASB-4408: Financial Econometrics (15) • Review of the linear regression model: estimation and hypothesis testing; • Dynamic regression models: distributed lag and autoregressive models; • Non-stationarity and testing for unit roots; • Modelling long-run relationships: cointegration; • Modelling volatility: univariate ARCH and GARCH models; • Regression analysis using panel data.
- ASB-4417: Market Risk Analytics (15) Introduction to financial engineering; Static replication -creation, decomposition and analysis of financial products; Dynamic replication; Hedging strategies; Convexity, volatility and credit risk in financial engineering; Case studies in financial engineering.
60 credits from:
- ASB-4902: MSc Dissertation (60) (Semester 3) Core There is no set syllabus. The dissertation encourages students to develop a critical awareness of the professional skills relevant to the strategic management of a variety of business practices. Students choose their research topic, provided that there is suitable and sufficient reading material available, and a member of staff is available to supervise in the chosen area of study.
- ASB-4909: Finance Dissertation (60) (Semester 3) Core
- ASB-4910: Finc'l Research & CFA Series (60) (Semester 3) Core In the Research Seminar component, the precise content will vary from year to year. This will enable the programme to include staff research specialisms, to reflect current and topical research issues and to adapt to any staffing changes. Indicative content for 2016 (labelling is consistent with the existing ASB4903/4896 module): A1. Corporate governance and executive compensation (Professor John Ashton). C1. Event studies and the measurement of abnormal returns (Dr Gwion Williams). D1. The role of rating agencies in financial markets (Professor Owain ap Gwilym). Each student must attend two of the above research seminars, as follows: MSc Accounting, MSc Accounting and Banking, MSc Accounting and Finance: Seminars A1, C1. MSc/MA Banking and Finance, MSc International Banking, MSc/MA Islamic Banking and Finance, MSc/MA Finance, MSc International Finance, MSc Investment Management, MSc/MA Management and Finance. Seminars C1, D1. MBA Banking and Finance, MBA Finance, MBA Islamic Banking and Finance. Seminars A1, D1. This is applicable to September and January intakes, in both Bangor and London. In the CFA component: Prepare students to undertake a professional exam. Training will cover topics on the CFA Level 1 syllabus. Indicative content for 2016: Ethical and Professional Standards; Quantitative Methods; Economics; Financial Reporting and Analysis; Corporate Finance; Portfolio Management; Equity Investments; Fixed Income Investments; Derivatives; and Alternative Investments.
30 credits from:
- Please choose 2 from
- ASB-4008: Financial Technology (15) (Semester 2)
- ASB-4405: Int'l Financial Management (15) (Semester 2) The financial management of multinational companies (MNCs). The macroeconomic, fiscal, currency and political environments. Determinants of exchange rates, and purchasing power and interest rate parity. Management of exchange rate exposure through forwards, options. Corporate financing decisions and the role of the global financial markets. Cost of capital and performance evaluation; capital investment appraisal. Working capital management and the positioning of funds in the MNC.
- ASB-4423: Islamic Finance (15) (Semester 1) The induction of Riba, Gharar and Maysir; Traditional Islamic financial instruments; The role of the capital market; Risk management and Structured Islamic financial products.
- ASB-4433: Behavioural Fin Theory & Pract (15) (Semester 2) An overview of behaviour finance; Rational expectation, market efficiency and financial market puzzles; Beliefs, biases and heuristics; Application to asset pricing: sentiment, heterogeneous beliefs, and limits to arbitrage; Alternative approaches to financial anomalies such as bounded rationality and learning.
- ASB-4442: Int'l Tax: Policy and Practice (15) (Semester 1) The place of taxation in the economy, what it is and its purpose (learning outcome 1). The balance between equity and efficiency (learning outcome 2); The basis and analysis of social welfare (learning outcome 2); Evaluation of the incidence of taxation and its influence on individuals, households and firms (learning outcome 2); An analysis of individual, household, firm and government behaviour (learning outcome 2); Comparison and evaluation of international taxation systems (learning outcome 3); Examine the operation of taxation systems and administrative issues (learning outcome 4); Understand and apply public administration, taxation and other relevant interdisciplinary theories (learning outcomes 1, 2, 3 and 4); The calculation of capital, income and consumption taxes for individuals and firms, to include tax planning (learning outcome 5).
- ASB-4446: Financial Ethics & Regulation (15) (Semester 1) The lecture programme will outline the principle areas of content with specific skills honed within seminars. The lecture programme will be introduced through considering past cases of poor ethical practice in financial services industry to motivate the subsequent studies. The module will then develop to consider moral and normative ethics in a business context, the application of ethical principles within key financial services areas including lending, investment and trading. The lecture programme will then consider the role of individuals, organisations and corporate governance arrangements in financial services decision making, expected professional standards and the evolution of conduct of business regulation internationally within the financial services industry.
- The above optional modules are available to students arriving in September.