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Unit information: Foundations of Finance and Economics in 2021/22

Unit name Foundations of Finance and Economics
Unit code EFIM01000
Credit points 20
Level of study QCA-3
Teaching block(s) Teaching Block 4 (weeks 1-24)
Unit director Dr. Proud
Open unit status Not open
Pre-requisites

None

Co-requisites

None

School/department School of Economics
Faculty Faculty of Social Sciences and Law

Description including Unit Aims

The aim of this course is to provide an introduction to finance and economic concepts, and aims to introduce students to the technical skills required in undergraduate courses. Topics that could be covered are:

Finance

  • Financial Decision-making
  • Concepts of costs and revenue, profit and efficiency
  • Distinction between stocks and flows
  • Time discounting, borrowing and basic financial planning
  • Growth rates and compound interest/growth
  • Risk

​​Accounting

  • The purpose of accounts
  • Financial Reporting
  • Management Accounting

​​Microeconomics

  • Markets
  • Supply and Demand
  • Opportunity cost
  • Types of market/competition
  • Average and total costs
  • Externalities
  • Social Welfare

​Macroeconomics​

  • International Trade

Intended Learning Outcomes

'An ability to consider the value of financial assets, and problems associated with calculating these values:

  1. An ability to identify and interpret profit and loss accounts
  2. An understanding of the underlying concepts of microeconomics, and the ability to discuss these concepts using diagrams where necessary
  3. A preparation of the skills and language required for preparation to study economics, accounting or finance in an undergraduate setting.

Teaching Information

24 Lectures

16 exercise lectures

8 classes

Assessment Information

Formative Assessment:

Weekly assignments are given to students to reinforce the concepts taught in lectures. Some are assessed and marked. All learning outcomes are assessed here, and in classes.

Summative assessment:

3 Hour examination: 50% from Finance and 50% from Economics. This assesses all learning outcomes.

Resources

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. EFIM01000).

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 Faculty 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. If you have self-certificated your absence from an assessment, you will normally be required to complete it the next time it runs (this is usually in the next assessment period).
The Board of Examiners will take into account any extenuating circumstances and operates within the Regulations and Code of Practice for Taught Programmes.

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