Module Code: A6FMI
Long Title Financial Markets & Institutions
Title Financial Markets & Institutions
Module Level: LEVEL 6
EQF Level: 5
EHEA Level: Short Cycle
Credits: 10
Module Coordinator: JONATHAN BRITTAIN
Module Author: Deirdre Bane
Departments: School of Business
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Explain the international financial system through the analysis of financial markets, financial intermediaries and institutions (such as central banks, rating agencies, etc.) and their role in the global economy
LO2 Apply theoretical concepts that underpin financial instruments valuation, such as the time value of money, future value, and interest rate requirement
LO3 Identify, utilise and evaluate different financial instruments available in the financial markets.
LO4 Evaluate the role of regulation and technology in the financial markets, financial institutions, government.
LO5 Explain practical implications of global events on the day-to-day operation of a financial services company
LO6 Reflect on the contemporary challenges and opportunities in the global financial environment.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements  
 

Module Content & Assessment

Indicative Content
Introduction and Overview of Financial Markets and Financial Instituti
• A short history of the international financial systems. • Role of financial services in the economy. • Globalisation of financial centres and markets. • Brief overview of financial institutions, intermediaries and other organisations operating within the sector.
Introduction and Overview of Financial Markets and Financial Instituti
• Identify and explain the nature, role and function of financial markets, including money, bond, equity and derivatives market, over the counter, etc. • Explain the listing process, primary and secondary markets, the trading process of clearing and settlement and fundamental operational flow of the markets.
Types and roles of Financial Institutions/Intermediaries
• Role of financial intermediation and risk incurred by financial institutions. • Definition and overview of types of Institutions/Intermediaries: retail, wholesale, investment banks. Other finance intermediaries such as: Insurance companies, securities firms, hedge funds, and private equity, online (Kickstarter.com, puddle.com, etc.) • An explanation of various types of roles within Financial Institutions/Intermediaries: Front, Middle and Back Office roles, Buy side/Sell side, Mutual Fund, Hedge Fund, etc. • Discussion of the range of products and services provided by the financial services sector.
Financial Market Instruments – Time Value of Money
• Simple Interest; Compound Interest; Continuously Compounded interest; Nominal and Effective Interest Rates. • Concepts which underpin instrument valuation: Present Value/Future Value of Money; NPV/IRR, etc.
Financial Market Instruments Valuation Techniques
• Utilise different valuation techniques applied to the various securities operating in the financial markets such as Debt, Equity, Forex (forwards and futures), etc. For Example: o Valuation of a Bond o Valuation of Equity o Bid-Ask, Bid-Ask Spread, reading FOREX quotes, etc.
Regulation of the Financial Markets and Institutions
• Rationale for government intervention in the financial sector. • Role and activities of the Central Bank (U.S. Federal Reserve, ECB, etc.) and other regulatory and governance authorities in the global economy. • Different types of intervention. • Capital adequacy. • Legislation and standards underpinning regulation and governance in the Financial Markets (Basel Accords, MiFID, EMIR, AIFMD, Dodd Frank, IFRS/GAAP harmonisation, etc.) • Regulatory and pragmatic effects of technology and digitisation and the future for Finance and the Markets.
Financial Risk Management, Innovation and Global Financial Markets
• Overview of the concept of risk management: o Returns - components of returns and measurement; o Risk - sources and measurement, Different types of risk - market risk, credit risk, operational risk, reputational risk, legislative risk, people risk, etc. • Review of key trends such as efficient market hypothesis (EMH), the credit crunch, risk management and deleverage, rethinking global banking economic paradigms and innovations (Islamic Banking, Blockchain/Bitcoin, etc.)
Assessment Breakdown%
Coursework50.00%
End of Module Assessment50.00%

Assessments

Full Time

Coursework
Assessment Type: Project (0050) % of total: 50
Assessment Date: n/a Outcome addressed: 1,2,3,4,5,6
Non-Marked: No
Assessment Description:
The continuous assessment will be a project based assignment requiring students to make a presentation, either on an individual or group basis. The Learner(s) must provide an overview of the institution(s) they are currently working in and an overview of their role. The student must address any complex industry-specific role function and illustrate how dynamic decision making take place on a day to day basis and under market conditions. The student must explain and show how the concepts examined in this module are relevant to their workplace environment. Treatment on a micro and macro basis will be required. For example, students within a certain role will be asked to map where that role
Assessment Type: Formative Assessment % of total: Non-Marked
Assessment Date: n/a Outcome addressed: 1,2,3,4,5,6
Non-Marked: Yes
Assessment Description:
Formative assessment will be included by the provision of class case studies and short answer questions. Feedback will be provided individually or as a group in written and oral format, or on-line through Moodle. In addition, in class discussions will be undertaken as part of the practical approach to learning.
End of Module Assessment
Assessment Type: Terminal Exam % of total: 50
Assessment Date: End-of-Semester Outcome addressed: 1,2,3,4,5,6
Non-Marked: No
Assessment Description:
The method of assessment for this module is a minimum two-hour exam. The end of term exam paper consists of five questions on the material covered in lectures, tutorials, group exercises and presentations carried out by learners during the course. All questions will be essay/computational based and will be marked according to clarity, structure, contemporary examples (that illustrate points made), reference to materials covered, theories and research in the field and accuracy. The learners must demonstrate an understanding and have the ability to explain and articulate, by giving examples and referring to the concepts covered during the course.
No Workplace Assessment
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 36 Per Semester 3.00
Tutorial No Description 20 Per Semester 1.67
Directed E-Learning No Description 20 Per Semester 1.67
Independent Learning No Description 144 Per Semester 12.00
Workbased learning No Description 30 Per Semester 2.50
Total Weekly Contact Hours 8.83
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Learners will have 39 hours a semester of college-based classroom contact. Lectures and any practical work will use a variety of teaching and learning techniques including direct instruction, in-class group work, case studies, problem-solving, etc 39 Every Week 39.00
Directed Learning Directed e-learning tasks 20 Every Week 20.00
Independent Learning No Description 166 Every Week 166.00
Workbased learning No Description 25 Every Week 25.00
Total Weekly Contact Hours 84.00
 

Module Resources

Recommended Book Resources
  • Hull, John (2021) Risk management and financial institutions. 5th ed. Wiley..
  • Mishkin, Frederic and Eakins, Stanley G. (2023) Financial markets and institutions. 10th ed. Pearson..
  • Pilbeam, Keith (2018) Finance and Financial markets. 4th ed. Palgrave..
  • Hull, John (2021) Options futures and other derivatives. 11th global. Wiley.
Supplementary Book Resources
  • Adrian, T. and Mancini-Griffoli, T., (2021). The Rise of Digital Money. Annual Review of Financial Economics, 13, pp.57-77..
  • Brandimarte, P., (2017), An Introduction to Financial Markets: A Quantitative Approach, Wiley NY.
  • González, C.I. and Núñez, S., (2021). Markets, Financial Institutions and Central Banks in the face of Climate Change: Challenges and Opportunities. Banco de España Occasional Paper, (2126)..
  • Haroon, O. and Rizvi, S.A.R., (2020). COVID-19: Media Coverage and Financial Markets Behavior—A Sectoral Inquiry. Journal of behavioral and experimental finance, 27, p.100343..
  • Salem Press Encyclopaedia (2021), Financial Markets and Institutions, Research Article.
This module does not have any article/paper resources
Other Resources
Discussion Note: