Modules for course N3CD | MSC/INTB
MSc International Banking
These were the modules for this course in the 2017–18 academic year.
- ASB-4411: International Banking (15) • Overview of financial management at modern banks; • Current trends and impacts of foreign banks • Origins and evolution of international banks and markets • Evaluating country risks; • The location decision; • Diversification, risk and value • Syndicated lending; • Financial crises; • Issues in international bank regulation; • Issues in executive compensation
- 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-4601: 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-4402: Bank Financial Management (15) External and internal drivers that shape bank financial management; Financial and performance analysis; Asset and liability management; Lending and securitisation; Risk and capital adequacy; Capital allocation and VAR (Value-At-Risk) modelling; Current issues in bank financial management.
- 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.
- ASB-4446: Financial Ethics & Regulation (15) 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.
60 credits from:
- ASB-4902: MSc Dissertation (60) (Semester 3) 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-4903: Financial Seminar Series (60) (Semester 3) The content below is that delivered in 2015, but the content will vary from year to year. This will enable the seminar programme to include staff research specialisms, to reflect current and topical research issues and to adapt to any staffing changes. Topics:- Set A: Accounting Set I. A1. Corporate governance and executive compensation (Professor John Ashton). A2. Impression management (Dr Doris Merkl-Davies). Set B: Banking and Finance. B1. Competition in the banking sector (Professor John Ashton). B2. Valuation for mergers, acquisitions and leveraged buyouts (Dr Ru Xie). Set C: Corporate Finance. C1. Event studies and the measurement of abnormal returns (Dr Gwion Williams). C2. Dividend policy (Professor Lynn Hodgkinson). Set D: Financial Markets. D1. The role of rating agencies in financial markets (Professor Owain ap Gwilym). D2. Market microstructure and high frequency trading (Professor Owain ap Gwilym). Seminar E1: Monetary Policy. E1. The conduct of monetary policy (Dr Rhys ap Gwilym). Set G: Accounting Set II. G1. Earnings management (Dr Aziz Jaafar). G2. Accounting and sustainability (Professor Lynn Hodgkinson). Each student must attend six of the above research seminars, as follows: MSc Accounting, MSc Accounting and Banking, MSc Accounting and Finance: Seminars A1, A2, C1, C2, G1, G2. MSc/MA Finance, MSc International Finance, MSc Investment Management, MSc/MA Management and Finance: Seminars B2, C1, C2, D1, D2, E1. MSc/MA Banking and Finance, MSc International Banking, MSc/MA Islamic Banking and Finance: Seminars B1, B2, C1, C2, D1, E1.
- ASB-4910: Finc'l Research & CFA Series (60) (Semester 3) 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:
- ASB-4408: Financial Econometrics (15) (Semester 2) • 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-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-4437: Merger and Acquisition (15) (Semester 2) Theory of the firm: "Build vs Buy"; Current issues in the M&A landscape; Motives for M&A; How do mergers work? When do mergers work? Winners and losers; Valuation in the context of an acquisition; Criteria for value-adding acquisitions; Cross-border vs domestic acquisitions.
- 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).