| Unit name | AI, Blockchain Technology and Applications |
|---|---|
| Unit code | ACFIM0002 |
| Credit points | 20 |
| Level of study | M/7 |
| Teaching block(s) |
Teaching Block 1 (weeks 1 - 12) |
| Unit director | Dr. Hou |
| Open unit status | Not open |
| Units you must take before you take this one (pre-requisite units) |
None |
| Units you must take alongside this one (co-requisite units) |
Quantitative Methods, Big Data and Machine Learning; Finance |
| Units you may not take alongside this one |
None |
| School/department | School of Accounting and Finance - Business School |
| Faculty | Faculty of Social Sciences and Law |
Why is this unit important?
Artificial intelligence (AI) is reshaping the financial services sector and is being used across a range of areas including trading, portfolio construction and evaluation, risk management, financial intermediation and corporate finance. Collecting, storing, and analysing the phenomenal quantities of relevant data being created each day is challenging and requires novel approaches and significant computing power. Distributed leger systems are changing the way that organisations and individuals keep records of transactions and make payments. Their impacts are likely to grow substantively as digital records systems based on this technology become more widely implemented, but already, blockchain technologies are finding uses in payments and lending, transaction settlement, insurance and contract recording. At the same time, the prices of cryptocurrencies (the digital financial products that rely on this infrastructure) have been highly volatile, creating both opportunities for speculation and significant risks for those transacting with them. This unit will provide a broad-based introduction to how blockchain techniques are being used to make cheaper and better financial products as well as making financial transactions faster, and it will discuss the ethical issues around their implementation.
How does this unit fit within your programme of study?
This unit studies one of the core aspects of financial technology. The unit can be considered a complement to Quantitative Methods, Big Data and Machine Learning, and some of the techniques learned there can be applied in the context of blockchains and cryptocurrencies. It is anticipated that some students will wish to use the material from this unit as the basis of their Dissertation.
An overview of the content
Students will learn how cryptographic technologies, consensus algorithms (such as ‘proof of work’), and digital currency wallets operate. The unit will examinethe differences between the characteristicsof common cryptocurrencies (Bitcoin, Ethereum, stable coins, etc.), and their relative advantages and disadvantages as stores of value and media for payment compared to conventional money. Determination of the supply of cryto-coins via ‘mining’ and how they are valuedwill be examined. Issues around market regulation, cybersecurity, transparency, and energy usage will be discussed.
How will students, personally, be different as a result of the unit
Students will be able to understand and explain the causes and consequences of financial innovation. They will not only be knowledgeable regarding the technical details of blockchain technologies, but will be conversant in the practicalities of how they are used, and will appreciate the business implications and opportunities. Blockchains are widely used in the financial services sector among central banks, commercial banks and specialist financial institutions, and therefore students will obtain industry-relevant knowledge.
Learning outcomes
Upon successful completion, students will be able to:
Weekly two-hour lectures will be delivered, which will discuss the content described above, incorporating the latest research in this fast-moving field. Students will also attend weekly one-hour small-group, interactive tutorials to discuss non-assessed problem-sets and case studies. The lecturer will provide optional advice and feedback sessions where students will be able to pose further questions regarding the material or ask about further resources. A thematically organised discussion board will be set up on Blackboard and moderated by the lecturer to enable student-directed discussion of topic areas where they have particular concerns. Guidance will be given for working in groups and preparing joint reports through a tutorial and support will continue throughout the period while the group assignment is live.
Tasks which will help you learn and prepare for summative tasks (formative)
Students will participate in weekly tutorials where non-assessed problem sets that they have prepared in advance will be discussed and generic oral feedback will be offered. End of lecture quizzes will be used to help students gain a preliminary snapshot of their understanding of the material covered in that lecture. More detailed multiple-choice (formative) tests will also be made available on Blackboard for students to complete and test their understanding of the material where feedback will be provided automatically. A sample exam paper with worked answers will be provided on Blackboardand arevision lecture will be organised at the end of the teaching block to prepare students for the final examination.
Tasks which count towards your unit mark (summative)
The unit will be assessed by:
When assessment does not go to plan
Students who fail the unit overall at the first attempt will be expected to resit all the assessments that they were unsuccessful in. Students failing the group project will undertake an individual project for the reassessment. The resit exam will have an identical structure to that of the first sit exam.
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. ACFIM0002).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the University Workload statement relating to this unit for more information.
Assessment
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. For appropriate assessments, if you have self-certificated your absence, you will normally be required to complete it the next time it runs (for assessments at the end of TB1 and TB2 this is usually in the next re-assessment period).
The Board of Examiners will take into account any exceptional circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
