Module Information

Module Identifier
ECM3020
Module Title
Emerging Financial Markets
Academic Year
2017/2018
Co-ordinator
Semester
Semester 1
Reading List
External Examiners
  • Dr Georgios Katechos (Senior Lecturer - University of Hertfordshire)
 
Other Staff

Course Delivery

Delivery Type Delivery length / details
Seminar 5 x 1 Hour Seminars
Lecture 11 x 2 Hour Lectures
 

Assessment

Assessment Type Assessment length / details Proportion
Semester Assessment Individual Coursework Essay: 2000 words  20%
Semester Assessment 10 Minute Individual Presentation  5%
Semester Exam 3 Hours   75%
Supplementary Assessment Repeat failed elements or equivalent  20%
Supplementary Assessment Repeat failed elements or equivalent  5%
Supplementary Exam 3 Hours   Repeat failed elements or equivalent  75%

Learning Outcomes

On successful completion of this module students should be able to:

Demonstrate an understanding of the functioning of financial markets in emerging economies.

Analyse the causes of financial sector underdevelopment in emerging markets and contrast structural differences between developed and emerging financial markets.

Evaluate the role of financial markets in promoting economic growth and critically appraise theories of financial sector development.

Explain sources of domestic and international finance and analyse the causes of international financial crises.

Critically analyse the impact of globalisation and free movement of capital on financial sector development and the real economic activity in emerging markets

Brief description

The module will investigate the relationship between financial deepening and economic growth. It will also discuss potential impact of globalisation of financial markets and free movement of capital on both availability of finance and financial crises in emerging financial markets.

Content

Introduction
- Defining Emerging Markets

Financial Development and Economic Growth
- Money, Financial Institutions and Economic Growth
- Theories of Financial Sector Development
- Financial Repression and Financial Liberalisation
- Informal Credit Markets

Differences in Banking Sector Structures
- Banking Sector Structure in Leading Market Economies
- Banking Sector Structure in Emerging Economies

Instability of Financial Markets and Financial Crises
- Minksy's Theory of Financial Instability
- The International Debt Crisis
- Financial Crisis of the 1990s
- Inflation and Currency Stability

Module Skills

Skills Type Skills details
Application of Number Although the mdule does not directly involve estimating econometric models, it requires students to understand and interpret results from various models. Essay and exam may incorporate some numerical techniques to analyse financial markets.
Communication Discussion-based seminars facilitate critical thinking and help to develop good presentation skills. Independent work on assessed essay helps to develop writing skills which will be of use when writing reports of different nature for various audiences and purposes.
Improving own Learning and Performance Students will improve their learning by undertaking directed but independent study and work. Time management will be crucial in preparation for the assessments.
Information Technology The use of electronic journals is highly relevant for the successful preparation of the essay. In addition, although not required, students may choose to use electronic databases and statistical packages in their essays.
Personal Development and Career planning The module provides content which may prove highly valuable for students in their later careers. Knowledge and understanding of contemporary issues in emerging financial markets, as well as research skills developed in connection with the preparation of assessed individual coursework contribute to transferable skills.
Problem solving The module demands the participants to apply analytical skills to reason and understand the challenging nature of the subject. By introducing a variety of theoretical as well as empirical topics, the module enables students to develop creative thinking approaches to problem solving and to critically evaluate potential solutions to complex and challenging problems. These skills will have to be applied in tutorial discussions, preparation of the essay, and in the exam.
Research skills Students will be mostly working with influential theoretical as well as empirical research papers published in top economics journals. This will introduce them to a range of research methods, which will facilitate development of appropriate research skills necessary to produce high quality analytical reports. The students will have to prepare an individual country report based on data and information that they will have to collect, having to arrange coherently in a written document all the relevant material gathered.
Subject Specific Skills Analytical Skills
Team work Although team work ethics are encouraged in seminar discussions, there is no specific requirement involving team work. During tutorial sessions and essay presentations students will be encouraged to voluntarily participate in group discussions.

Notes

This module is at CQFW Level 7