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MSc and Postgraduate Diploma

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					 MSc degrees in Finance (Economic Policy), Finance (Financial Sector Management),
Finance (Quantitative Finance), Public Policy and Management (registered with effect
    from 1 Jan 2009 or later), Postgraduate Diplomas in Economic Policy, Financial
       Sector Management, Quantitative Finance, Policy Studies, Public Financial
     Management, Public Management, MSc degrees and Postgraduate Diplomas in
      Finance and Financial Law (registered with effect from 1 Jan 2007 or later),
   International Management (China) and MBA degree and Postgraduate Diploma in
                                       Banking

  This booklet contains the Regulations for the MSc degrees in Finance (Economic Policy), Finance (Financial Sector
Management), Finance (Quantitative Finance), Public Policy and Management (students registered with effect from 1 Jan
 2009 or later), Postgraduate Diplomas in Economic Policy, Financial Sector Management, Quantitative Finance, Policy
 Studies, Public Financial Management, Public Management, MSc degrees and Postgraduate Diplomas in Finance and
  Financial Law (students registered with effect from 1 Jan 2007 or later), International Management (China) and MBA
 degree and Postgraduate Diploma in Banking (known as the ‘Programme Regulations’) plus the General Regulations
which govern all awards placed at level 7 of the Framework for Higher Education Qualifications (FHEQ). The FHEQ forms
part of the academic infrastructure of the Quality Assurance Agency for Higher Education (QAA) in England and Wales.
 The two sets of Regulations should be read together. This booklet also contains the Programme Regulations and the
                      General Regulations for the short courses that are derived from these awards.

                                                          Contents
                                                         The Awards

Programme Regulations                                           General Regulations for Degrees and Other
                                                                Awards at Masters Level

     Paragraph                                    Page                Paragraph                                           Page

     1.   Introduction                               2                1.    The Regulations                                   26
     2.   Programmes of study                        2                2.    Awards to External students                       26
     3.   Rules of progression                       2                3.    Application, entrance requirements and
     4.   Application and entrance requirements      3                      exemptions                                        27
     5.   Period of registration                     3                4.    Rules of progression                              28
     6.   Assessment                                 4                5.    Period of registration                            28
     7.   Number of attempts permitted               4                6.    Transfer                                          29
     8.   Fees                                       5                7.    Assessment                                        30
                                                                      8.    Number of attempts permitted                      30
Schedules                                                             9.    Students with a disability and/or special needs   30
   A    Structures                                   6                10.   Conduct of examinations                           31
   B    Course outlines                             17                11.   Fees                                              32
   C    Scheme of award                             24
   D    Assessment criteria                         25


                                                    Short Courses


Short Course Programme Regulations                              Short Course General Regulations

     Paragraph                                    Page                Paragraph                                           Page
     1.   Introduction                              34                1.   The Regulations                                  44
     2.   Short course programme of study           34                2.   Short courses                                    44
     3.   Progression to the related awards         34                3.   Progression to a degree, diploma or certificate 45
     4.   Entrance requirements                     34                4.   Period of registration                           45
     5.   Assessment                                35                5.   Assessment                                       46
     6.   Fees                                      35                6.   Number of attempts permitted                     46
                                                                      7.   Students with a disability and/or special needs 47
Schedule                                                              8.   Conduct of examinations                          47
                                                                      9.   Fees                                             48
     A    Course outlines                           37
                                         Programme Regulations
Please note that students on the Finance and Financial Law Programme registered with effect from 1 June 2006
or earlier and the Public Policy and Management Programme registered with effect from 1 June 2008 or earlier
are covered by a separate set of regulations.


1.     Introduction
                                                                       2.2     The MSc degrees in Finance (Economic Policy), Finance
1.1      The University awards the degrees of Master of Science        (Financial Sector Management) and Finance (Quantitative
listed below, hereafter called the MSc degrees and the degree of       Finance) consists of five core courses and three additional
Master of Business Administration, hereafter called the MBA            elective courses.
degree. Postgraduate Diplomas are also awarded. The award of
the degrees and Postgraduate Diplomas to External students is          2.3     The MSc degrees in International Management (China),
controlled by both these Programme Regulations and the                 Finance and Financial Law (registered with effect from 1 Jan
General Regulations.                                                   2007 or later) consists of five compulsory courses and three
      Master of Business Administration and Postgraduate               elective courses.
      Diploma in Banking
                                                                       2.4     The MSc in Public Policy and Management (registered
      Master of Science and Postgraduate Diploma in Finance
                                                                       with effect from 1 Jan 2009 or later) consists of eight courses.
      and Financial Law (registered with effect from 1 Jan 2007
      or later)
                                                                       2.5    The MBA degree consists of five compulsory courses
      Master of Science in Finance (Economic Policy) and
                                                                       and one elective course.
      Postgraduate Diploma in Economic Policy
      Master of Science in Finance (Financial Sector                   2.6    Full details of the structures are given in Schedule A.
      Management) and Postgraduate Diploma in Financial
      Sector Management                                                2.7     Not all courses will necessarily be available every year
      Master of Science in Finance (Quantitative Finance) and          or offered at any particular time during the year.
      Postgraduate Diploma in Quantitative Finance
      Master of Science and Postgraduate Diploma in                    2.8    Students may only register for one course per session. In
      International Management (China)                                 exceptional circumstances and having shown sufficient
      Master of Science in Public Policy and Management                progression in two courses, students may apply for dispensation
      (registered with effect from 1 Jan 2009 or later)                from the Programme Director to sit two courses in one session.
      Postgraduate Diploma in Policy Studies
      Postgraduate Diploma in Public Management
      Postgraduate Diploma in Public Financial Management              3.        Rules of progression
1.2   The MSc degrees, MBA degree and Postgraduate
                                                                       Students registered for the Postgraduate
Diplomas are awarded without classification.
                                                                       Diploma
1.3     MSc and MBA degree students only: At the discretion
of the Board of Examiners a mark of distinction may be awarded         3.1    In any one year, students registered for the Postgraduate
to those students who have completed the examination and who           Diploma may study and be examined in a maximum of four
have shown exceptional merit; a mark of merit may be awarded           courses, excluding re-sits.
to those students who have completed the examination and have
shown merit.                                                           3.2       In order to be able to proceed to the MSc or MBA
                                                                       degree, a student registered for the Postgraduate Diploma must
1.4     A student cannot be awarded both the Postgraduate              normally obtain a pass in all four of the Postgraduate Diploma
Diploma and the related MSc degree or MBA degree. A student            courses and receive a recommendation from the Examiners that
who has accepted the award of the Postgraduate Diploma will            he or she may proceed to the MSc or MBA degree.
not be permitted to re-register for the related MSc or MBA
degree.                                                                3.3    At the discretion of the Examiners, a student who has
                                                                       been examined in all four of the Postgraduate Diploma courses
1.5     The date of the award for the MSc and MBA degrees              and who has passed a minimum of three courses may be
and the Postgraduate Diplomas to successful students will be           permitted to progress to the MSc or MBA degree. Students will
31 December.                                                           be required to re-sit the examination for the remaining
                                                                       Postgraduate Diploma course in the following year.

2.     Programmes of study                                             3.4      In the circumstances of paragraph 3.2 and 3.3, the
                                                                       Examiners may also recommend, if they think it appropriate,
                                                                       that a student who transfers his or her registration from the
2.1     The Postgraduate Diplomas consist of four elective
                                                                       Postgraduate Diploma to a related MSc or MBA degree may
courses with the exception of the Postgraduate Diploma in
                                                                       hold the pass at the Postgraduate Diploma to his or her credit in
Finance and Financial Law, which consists of one compulsory
                                                                       the event that he or she does not subsequently satisfy the
course and three electives, and the Postgraduate Diploma in
                                                                       Examiners of the MSc or MBA degree. If the student should be
Public Management, which consists of four compulsory courses,
                                                                       successful at the MSc or MBA examination, the pass at the
and the Postgraduate Diploma in International Management
                                                                       Postgraduate Diploma examination will no longer be valid and
(China), which consists of three compulsory courses and one
                                                                       the MSc or MBA degree will be awarded. If the student should
elective.
                                                                       fail the MSc or MBA examination, he or she will be awarded the

                                                                   2
Postgraduate Diploma with effect from the year in which the             satisfy the entrance requirements given in paragraph 4.6, 4.9 and
Postgraduate Diploma examination was passed.                            4.10.

3.5      A student who accepts the award of the Diploma will            4.6       An applicant must have:
not be permitted to re-register for the related MSc or MBA              either
degree at a later date. A student who has completed the                 (a)       a recognised professional qualification (accounting,
Diploma and received an invitation to transfer, but does not                      banking, CFA, or related professional qualifications)
make a decision on award or transfer within his or her                  or
registration period will automatically be awarded the                   (b)       a Bachelor‟s degree in economics, business
Postgraduate Diploma, normally at the end of that period. The                     administration, accounting or related discipline, from a
award will be with effect from the year in which the                              UK university or other institution acceptable to the
Postgraduate Diploma examination was completed.                                   University, or an equivalent international
                                                                                  qualification.
Students registered for the MSc degree or MBA
degree                                                                  and three years relevant work experience.

3.6    Students registered for the MSc or MBA will not be               4.7      In order to be considered for registration for the MSc
allowed to apply credit from one course to an alternative               degree in Public Policy and Management or International
Master‟s level degree.                                                  Management (China) or Postgraduate Diplomas in Policy
                                                                        Studies, Public Financial Management, Public Management
3.7    At the discretion of the Board of Examiners, students            or International Management (China) an applicant must
who are required to re-sit an examination may be prohibited             satisfy the entrance requirements given in paragraph 4.8–4.10.
from following further courses until these re-sit examinations
have been taken.                                                        4.8    An applicant must have:
                                                                        either
                                                                        (a)    a Bachelor‟s degree in a social science discipline, or
                                                                               other appropriate discipline, from a UK university or
4.     Application and entrance                                                other institution acceptable to the University, or an
       requirements                                                            equivalent international qualification (qualifications in
                                                                               other subjects will be assessed on their merits)
Application                                                             or
                                                                        (b)    previous education and experience without a UK
4.1    In order to be considered for registration as an External               Bachelor‟s degree or international equivalent, which
student, applicants are required to submit an application in                   satisfies the University as a qualification on the same
accordance with the procedures and deadlines given in the                      level as a UK Bachelor‟s degree approved under (a) for
relevant prospectus or on the CeFiMS website.                                  this purpose, and which has included suitable
                                                                               preliminary training.
Entrance requirements
                                                                        All students
4.2     In order to be considered for registration for the
                                                                        4.9     For all applicants a high level of English language ability
Postgraduate Diplomas in Economic Policy, Financial Sector
                                                                        in reading, writing and study skills is required. This is equivalent
Management, Quantitative Finance or Finance and Financial
                                                                        to a score of 7.0 overall in the IELTS test, or 7 in both reading
Law, an applicant must satisfy the entrance requirements given
                                                                        and writing. For the TOEFL paper-based test, students will need
in paragraphs 4.3, 4.9 and 4.10.
                                                                        a score of 600+, with at least 5.0 in the Test of Written English;
                                                                        for the TOEFL computer-based test, students will need a score
4.3    An applicant must have:
                                                                        of 250+, with at least 5.0+ in the Test of Written English; and in
either
                                                                        the TOEFL internet-based test, students will need a score of
(a)    a Bachelor‟s degree in finance, economics, or other
                                                                        100+, with 25+ in the Writing section. Applicants will be asked
       appropriate discipline, from a UK university or other
                                                                        to provide evidence of language ability as tested by the British
       institution acceptable to the University, or an equivalent
                                                                        Council, GMAT or another registered body.
       international qualification (qualifications in other
       subjects will be assessed on their merits)
                                                                        4.10       All students are required to have access to the internet
or
                                                                        in order to participate fully in the learning process.
(b)    previous education and experience without a UK
       Bachelor‟s degree or international equivalent, which
                                                                        4.11     There is no provision for exemption at the
       satisfies the University as a qualification on the same
                                                                        Postgraduate Diploma, MBA degree or MSc degree level.
       level as a UK Bachelor‟s degree approved under (a) for
       this purpose, and which has included suitable
       preliminary training.
                                                                        5.       Period of registration
4.4    In order to be considered for registration for the MSc
degrees in Finance (Economic Policy), Finance (Financial                5.1     The minimum period of registration for the MSc degrees
Sector Management), Finance (Quantitative Finance) or                   and the MBA degree is two calendar years from the effective
Finance and Financial Law, an applicant must satisfy the                date of registration for the degree. The minimum period of
entrance requirements given in paragraphs 4.3a, 4.9 and 4.10.           registration for the Postgraduate Diplomas is one calendar year
                                                                        from the effective date of registration. The maximum period of
4.5    In order to be considered for registration for the MBA           registration for Postgraduate Diplomas, MSc degrees and the
degree or Postgraduate Diploma in Banking, an applicant must            MBA degree is five calendar years from the effective date of
                                                                        registration for the degree.

                                                                    3
                                                                         penalties and may be returned unmarked. This could affect a
5.2      The effective date of a student‟s registration shall be 1       student‟s eligibility to sit examinations (see paragraph 6.2).
November for students registering in October, 1 January for
students registering in January and 1 June, for students                 6.10 With each assignment students must accept the no
registering in May, these dates being in the year in which he or         plagiarism declaration via the online submission procedure to
she is initially registered.                                             confirm that the completed assignment is all the student‟s own
                                                                         work and that there has been no plagiarism.
5.3    An application for an extension of registration may be
considered under paragraph 5 of the Postgraduate General                 6.11 It is the responsibility of the student to retain a copy of
Regulations. A fee will be payable.                                      his or her assignment in the event of any electronic difficulties
                                                                         in its submission to, or return from, the University.


6.     Assessment                                                        Dissertation

6.1     Each course for the awards listed in these regulations,          6.12 All students wishing to write a dissertation are required
with the exception of course C354 Dissertation will be assessed          to successfully complete the assignments for C353 Research
by one three-hour unseen written paper and by the submission of          Methods before proceeding to C354 Dissertation.
assignments.
                                                                         6.13 The draft dissertation will not form part of the final
6.2     Students cannot sit the written paper for a course unless        assessment but students are strongly advised to submit a draft of
they have completed all the compulsory assignments for that              their dissertation before submission of the final version.
course. Students who sit a written paper for a course for
which they have an incomplete assignment record will be judged           6.14 All students submitting a dissertation must submit an
not to have completed the examination and will receive no mark           electronic copy of the completed dissertation via the Online
for their performance in the written paper.                              Study Centre, to arrive not later than 1 October in the year of
                                                                         the examinations.
6.3     The grade awarded on each individual course will be
based on the mark obtained in the written paper and on the               Examinations
combined mark for the assignments on the course. The
examination mark and the combined mark of the assignments                6.15 Details of the requirements for the conduct of
will be weighted on the scale 70:30.                                     examinations are given in paragraph 10 of the General
                                                                         Regulations.
6.4    Examinations by written paper, wherever held, will take
place on one occasion each year, normally during a period from           6.16 Students may use their own electronic calculators in the
September to October, in accordance with the study timetable.            examinations provided that the calculator complies with the
                                                                         specification given in paragraph 10 of the General Regulations.
6.5     Course C354 Dissertation will be assessed by
submission of a written dissertation relating to both theory and         6.17 In addition to the specification regarding calculators
policy issues of not more than 10,000 words, excluding the               given in paragraph 10 of the General Regulations, the use of
bibliography and appendices (see paragraphs 6.12 – 6.14 for              calculators that can multiply to the powers of beyond 2 and roots
further information).                                                    other than square roots may be used in the examinations.
6.6      Notwithstanding the provisions of paragraph 10.10–
10.14 of the General Regulations, any coursework which forms
part of the formal assessment of a unit and is deemed by the             7.     Number of attempts permitted
University to be plagiarised will be given a mark of 0 (zero) and
the student will be formally reprimanded. Repeated offences of           7.1    Details of the number of attempts permitted are given in
plagiarism will attract greater penalties: the University may            paragraph 8 of the General Regulations.
determine that there should be no mark for any of the units taken
in the year concerned; or that the student be excluded from any          7.2     Students who fail to satisfy the Examiners at the first
or all future examinations of the University.                            attempt of an examination will be permitted to make one further
                                                                         attempt at the written paper for the course concerned. Students
Assignments                                                              will not be permitted to re-submit assignments and the mark
                                                                         obtained on the first occasion will be carried forward to the
                                                                         second attempt.
6.7     For each individual course for the awards listed in these
regulations, with the exception of the dissertation, students are
                                                                         7.3      If a student submits a dissertation which is otherwise
required to submit two assignments of not more than 2,500
                                                                         adequate but requires minor amendment, the Examiners may
words each which will take the form of written work prepared in
                                                                         require the student to make any amendments specified by them
response to a task or tasks specified by the Programme Director.
                                                                         and to re-submit the dissertation within a period of four weeks
                                                                         unless otherwise specified by the Examiners. If the dissertation
6.8    Completed assignments must be submitted via the
                                                                         is failed completely, the student will be required to make a fresh
Online Study Centre no later than the submission dates given on
                                                                         application for approval of a topic and offer a new or re-written
the course timetables.
                                                                         dissertation at a subsequent examination.
6.9     An assignment may be submitted late only with the
approval of the Programme Director who, in giving permission,
will specify the additional period allowed. Assignments which
are submitted late without such permission, will be subject to

                                                                     4
                                                                            8.6        Students are required to submit fees in accordance
                                                                            with the procedures and deadlines given in the relevant
8.      Fees                                                                prospectus or on the CeFiMS website. The University reserves
                                                                            the right to withhold course materials and the results of written
8.1    The fees payable to the University for the MBA degree                assignments and examinations from students whose fees have
and Postgraduate Diploma in Banking are of two kinds:                       not been paid.
(a)    students are required to pay a fee for each course they
       study                                                                8.7     A fee is normally levied by all examination centres
                                                                            (other than London). This fee is payable by the students each
(b)     students are also required to pay a registration fee which          time they make an examination entry. The University cannot be
        is valid for a period of five years.                                responsible for this fee nor can it influence the level of fee
                                                                            charged.
8.2     The fees for the programmes in Banking may be paid in
one of two ways:
                                                                            Refunds
either
(a)     a single payment covering the registration fee and all
                                                                            8.8      Students will be refunded any fees paid to the University
        course fees, that is,
                                                                            if the refund request is made within a week of the initial fee
                                                                            payment. Otherwise, the information in point 8.9 applies.
        MBA degree in Banking                         £7,510
        Postgraduate Diploma in Banking               £5,045
                                                                            8.9    Notwithstanding the provisions of paragraph 11 of the
                                                                            General Regulations, course fee payments will only be refunded
or
                                                                            where payment has been made and no study materials have been
(b)     at the first enrolment, the initial registration fee plus the
                                                                            despatched. No other fees are refundable.
        fee for one course. Subsequently fees are payable prior
        to each enrolment for a course.

        Registration fee for
        MBA Banking                                   £1,090
        Postgraduate Diploma in Banking               £765

        Course fee (each)                             £1,070

8.3    The fees payable to the University for the MSc degrees
in Finance (Economic Policy), Finance (Financial Sector
Management), Finance (Quantitative Finance) and Public Policy
and Management, Postgraduate Diplomas in Economic Policy,
Financial Sector Management, Quantitative Finance, Policy
Studies, Public Financial Management and Public Management,
and MSc degrees and Postgraduate Diplomas in Finance and
Financial Law and International Management (China) are:

(i)     Fee per course                                £1,160
(ii)    Overall MSc programme cost                    £9,280
(iii)   Overall Postgraduate Diploma cost             £4,640

8.4       Where students are following the courses under
arrangement with a local institution offering tutorial facilities,
there may be some variation in the fees quoted to cover local
administration costs.

8.5    The fees above refer to the registration period 1
November 2010 to 31 October 2011 only, and are subject to
annual review.




                                                                        5
            Schedule A / Structures
MSc degree in Finance and Financial Law

 For students registered with effect from 1 January 2007 or later




                      MSc degree

            Five compulsory courses


    C321       Corporate Finance
    C323       Risk Management: Principles and Applications
    C338       Introduction to Law and to Finance
    C340       Financial Law
    C341       Legal Aspects of International Finance




                              +
    Three elective courses chosen from:




     C322      Bank Financial Management
     C326      Banking and Capital Markets
     C339      Legal Aspects of Corporate Finance
     C342      Finance in the Global Market
     C243      Regulation of International Capital Markets
     C344      Corporate Governance
     C345      Law and Regulation of Electronic Finance and
               Internet Banking
     C353      Research Methods
     C354      Dissertation (pre-requisite C353 Research
               Methods)




                                6
Postgraduate Diploma in Finance and Financial Law




                Postgraduate Diploma

                One compulsory course


         C338    Introduction to Law and to Finance




                                 +

        Three elective courses chosen from:



         C321   Corporate Finance
         C340   Financial Law
         C323   Risk Management: Principles and Applications
         C341   Legal Aspects of International Finance




                                 7
  MSc degree in Finance (Economic Policy) and Postgraduate Diploma in
                           Economic Policy


           Postgraduate Diploma                                             MSc degree

                   Four courses                                              Five courses

Four courses chosen from the following list:              Five courses chosen from the following list:

  C325 Macroeconomic Policy and Financial Markets         C325 Macroeconomic Policy and Financial Markets
  C329 International Finance                              C329 International Finance
  C313 The International Monetary Fund and Economic       C313 The International Monetary Fund and Economic
       Policy                                                  Policy
  C357 Microeconomic Principles and Policy                C357 Microeconomic Principles and Policy
  C301 Public Financial Management: Planning and          C301 Public Financial Management: Planning and
       Performance                                             Performance
  C305 Public Financial Management: Revenue               C305 Public Financial Management: Revenue



                                                                                   +
                                                                            Three courses

                                                          Three courses chosen from the following list:

                                                          C307   Project Appraisal and Impact Analysis
                                                          C342   Finance in the Global Market
                                                          C356   Bank Regulation and Resolution of Banking Crises
                                                          C326   Banking and Capital Markets
                                                          C319   Quantitative Methods for Financial Management
                                                          C323   Risk Management: Principles and Applications
                                                          C330   Econometric Principles and Data Analysis
                                                          C332   Econometric Analysis and Applications
                                                          C359   Financial Econometrics
                                                          C333   Derivatives
                                                          C321   Corporate Finance
                                                          C322   Bank Financial Management
                                                          C344   Corporate Governance
                                                          C358   Modelling Firms and Markets
                                                          C353   Research Methods
                                                          C354   Dissertation (pre-requisite C353 Research Methods)
                                                                  and
                                                                 Electives from any untaken core courses.




                                                      8
MSc degree in Finance (Financial Sector Management) and Postgraduate
               Diploma in Financial Sector Management


         Postgraduate Diploma                                                   MSc degree

                   Four courses                                                  Five courses

Four courses chosen from the following list:                  Five courses chosen from the following list:

C319   Quantitative Methods for Financial Management          C319   Quantitative Methods for Financial Management
C321   Corporate Finance                                      C321   Corporate Finance
C344   Corporate Governance                                   C344   Corporate Governance
C326   Banking and Capital Markets                            C326   Banking and Capital Markets
C342   Finance in the Global Market                           C342   Finance in the Global Market
C356   Bank Regulation and Resolution of Banking Crises       C356   Bank Regulation and Resolution of Banking Crises
C322   Bank Financial Management                              C322   Bank Financial Management




                                                                                        +
                                                                                Three courses

                                                              Three courses chosen from the following list:

                                                              C323   Risk Management: Principles and Applications
                                                              C330   Econometric Principles and Data Analysis
                                                              C332   Econometric Analysis and Applications
                                                              C359   Financial Econometrics
                                                              C333   Derivatives
                                                              C325   Macroeconomic Policy and Financial Markets
                                                              C329   International Finance
                                                              C313   The International Monetary Fund and Economic
                                                                     Policy
                                                              C358   Modelling Firms and Markets
                                                              C357   Microeconomic Principles and Policy
                                                              C301   Public Financial Management: Planning and
                                                                     Performance
                                                              C305   Public Financial Management: Revenue
                                                              C307   Project Appraisal and Impact Analysis
                                                              C353   Research Methods
                                                              C354   Dissertation (pre-requisite C353 Research Methods)
                                                                      and
                                                                     Electives from any untaken core courses.




                                                          9
MSc degree in Finance (Quantitative Finance) and Postgraduate Diploma
                       in Quantitative Finance


         Postgraduate Diploma                                                MSc degree

                   Four courses                                                Five courses

Four courses chosen from the following list:               Five courses chosen from the following list:

C330   Econometric Principles and Data Analysis            C330   Econometric Principles and Data Analysis
C332   Econometric Analysis and Applications               C332   Econometric Analysis and Applications
C359   Financial Econometrics                              C359   Financial Econometrics
C323   Risk Management: Principles and Applications        C323   Risk Management: Principles and Applications
C333   Derivatives                                         C333   Derivatives
C358   Modelling Firms and Markets                         C358   Modelling Firms and Markets

                                                                                   +
                                                                             Three courses

                                                           Three courses chosen from the following list:

                                                           C319   Quantitative Methods for Financial Management
                                                           C321   Corporate Finance
                                                           C344   Corporate Governance
                                                           C326   Banking and Capital Markets
                                                           C342   Finance in the Global Market
                                                           C356   Bank Regulation and Resolution of Banking Crises
                                                           C322   Bank Financial Management
                                                           C325   Macroeconomic Policy and Financial Markets
                                                           C329   International Finance
                                                           C313   The International Monetary Fund and Economic
                                                                  Policy
                                                           C357   Microeconomic Principles and Policy
                                                           C301   Public Financial Management: Planning and
                                                                  Performance
                                                           C305   Public Financial Management: Revenue
                                                           C307   Project Appraisal and Impact Analysis
                                                           C353   Research Methods
                                                           C354   Dissertation (pre-requisite C353 Research Methods)
                                                                   and
                                                                  Electives from any untaken core courses.




                                                      10
MSc degree in Public Policy and Management
   For students registered with effect from 1 January 2009 or later


                           MSc degree

                           Eight courses
      Eight courses chosen from the following list:

    C300        Public Policy and Management: Perspectives and
                Issues
    C301        Public Financial Management: Planning and
                Performance
    C302        Human Resource Management and Development
    C303        Management Information and Information Systems
    C304        Decentralisation and Local Governance
    C305        Public Financial Management: Revenue
    C306        Managing Organisational Change
    C307        Project Appraisal and Impact Analysis
    C310        Public Financial Management: Reporting and Audit
    C311        Privatisation and Public–Private Partnerships
    C312        Public Policy and Strategy
    C313        The International Monetary Fund and Economic
                Policy
    C353        Research Methods
    C354        Dissertation (pre-requisite C353 Research Methods)




                                 11
Postgraduate Diplomas in Public Policy and Management


            Public Financial Management


                     Postgraduate Diploma

                             Four courses
           Four courses chosen from the following list:

             C301    Public Financial Management: Planning and
                     Performance
             C304    Decentralisation and Local Governance
             C305    Public Financial Management: Revenue
             C307    Project Appraisal and Impact Analysis
             C310    Public Financial Management: Reporting and
                     Audit
             C311    Privatisation and Public–Private Partnerships




                                   12
Postgraduate Diplomas in Public Policy and Management


                   Public Management


                     Postgraduate Diploma

                    Four compulsory courses


           Four compulsory courses:


            C300   Public Policy and Management: Perspectives and
                   Issues
            C302   Human Resource Management and Development
            C303   Management Information and Information Systems
            C306   Managing Organisational Change




                                  13
Postgraduate Diplomas in Public Policy and Management


                        Policy Studies


                     Postgraduate Diploma

                             Four courses
           Four courses chosen from the following list:


            C300   Public Policy and Management: Perspectives and
                    Issues
            C304    Decentralisation and Local Governance
            C311   Privatisation and Public–Private Partnerships
            C313   The International Monetary Fund and Economic
                    Policy
            C312   Public Policy and Strategy




                                  14
                                MBA and Postgraduate Diploma in
                                           Banking


          Postgraduate Diploma                                                       MBA

                  Four courses
                                                              Five compulsory courses:
Four courses chosen from the following list:                  Five compulsory courses:

                                                               C221    Corporate Finance
  C221    Corporate Finance                                    C222    Bank Financial Management
  C222    Bank Financial Management                            C223    Risk Management: Principles and Applications
  C223    Risk Management: Principles and Applications         C240    Financial law
  C225    Macroeconomic Policy and Financial Markets           C245    Law and Regulation of Electronic Finance and
  C240    Financial Law                                                Internet Banking
  C245    Law and Regulation of Electronic Finance and
          Internet Banking
  C256    Bank Regulation and Resolution of Banking
          Crises




                                                                                  +
                                                                      One elective course

                                                              One elective course chosen from:

                                                               C225 Macroeconomic Policy and Financial Markets
                                                               C226 Banking and Capital Markets
                                                               C256 Bank Regulation and Resolution of Banking Crises




                                                         15
                            MSc degree and Postgraduate Diploma in
                              International Management (China)




            Postgraduate Diploma                                                      MSc degree

         Three compulsory courses                                          Five compulsory courses

Three courses selected from:

  C348     International Management                                 C347      Cross-Cultural Management
  C349     Management in China: Domestic Development                C348      International Management
  C350     Management in China: International Perspectives          C349      Management in China: Domestic Development
                                                                    C350      Management in China: International
                                                                              Perspectives
                                                                    C351      Topics in the Chinese Economy


                         +
           One elective course
                                                                                             +
                                                                              Three elective courses
One elective course selected from:
                                                                  Three elective courses selected from:
 C321       Corporate Finance
 C347       Cross-Cultural Management
 C351       Topics in the Chinese Economy                          C321        Corporate Finance
 C344       Corporate Governance                                   C344        Corporate Governance
 C323       Risk Management: Principles and Applications           C352        International Human Resource Management
 C342       Finance in the Global Market                           C323        Risk Management: Principles and Applications
 C352       International Human Resource Management                C342        Finance in the Global Market
                                                                   C353        Research Methods
                                                                   C354        Dissertation (pre requisite C353 Research
                                                                   Methods)




                                                             16
                                      Schedule B / Course outlines


        C300 Public Policy and Management:                                 Unit 6 Pay
                 Perspectives and Issues                                   Unit 7 Cross-functional issues
                                                                           Unit 8 Human Resource Strategy and Management
We live in an era of frequent and sometimes radical change in
what governments do and how they are organised to do it.
Sometimes the changes are generated within countries as
responses to social, political and economic developments and               C303 Management Information and Information
sometimes they originate outside the country. The purpose of                                            Systems
this course is to provide an analytical framework for                      The introduction of new information systems, including
understanding public policy and management in a variety of                 computerised information systems, is essential in improving the
historical and comparative contexts. It provides the means for             performance of public sector organisations (PSOs). Yet, too
students to make their own judgments about appropriate ways to             often, the potential of information systems is never realised, and
make public policy and organise and deliver public services.               PSOs are littered with failed computerised information systems.
Unit 1 The State, Public Policy and Management                             These failures create a massive waste of public finance and of
Unit 2 Understanding the State                                             public servants' time and effort. They also reduce the quality of
Unit 3 Ideal Types                                                         service provided by the public sector; in extreme cases
Unit 4 Policy Analysis and Evaluation                                      threatening even the livelihoods and lives of those who depend
Unit 5 Policy and Management Dilemmas I                                    on public services. Overall, this course therefore seeks to
Unit 6 Policy and Management Dilemmas II                                   address three issues: (1) the great potential of information
Unit 7 Policy Transfer                                                     systems in the public sector, (2) the reasons behind the
Unit 8 The Future of the State?                                            widespread failure to achieve that potential, and (3) the
                                                                           possibilities of, and constraints on, closing this gap between
                                                                           potential and actuality.
  C301 Public Financial Management: Planning                               Unit 1 An Introduction to Information Systems in Public Sector
                      and Performance                                      Organisations
                                                                           Unit 2 Information in Organisations
As government organisations come under external and internal
                                                                           Unit 3 Information and Communication Technologies in the
pressure to demonstrate increased efficiency in their activities, a
                                                                           Knowledge Era
working knowledge of the methods and practices of public
                                                                           Unit 4 People, Management, Organisations, Environments and
financial management (PFM) has become an essential part of the
                                                                           Information Systems
public manager‟s tool-kit. This course is concerned with the
                                                                           Unit 5 Types of Information Systems
planning and management of public expenditure and
                                                                           Unit 6 Managing Information Systems and Data
accountability for the use of public money. The course also
                                                                           Unit 7 Information Systems Development
examines cost management, budgeting, expenditure control
                                                                           Unit 8 E-Government Strategy
techniques, accounting for public spending and performance
budgeting.
Unit 1 The Context of Financial Management
Unit 2 Budget Classification and Structure                                   C304 Decentralisation and Local Governance
Unit 3 Costs                                                               This course asks why decentralisation is considered a good
Unit 4 Accounting and Budgeting: National Level                            thing, and assesses a range of experiences of decentralisation in
Unit 5 Accounting and Budgeting: Sub-national Level                        different kinds of countries and different parts of the world, to
Unit 6 The Management and Control of Budgets                               highlight issues and options in the design, implementation and
Unit 7 Budgeting and Democracy                                             management of decentralisation at various levels of government:
Unit 8 Financial Management and Performance                                from federal nation states to rural districts and even villages. The
                                                                           course's approach is that governance is a political process as
                                                                           much as a technical one.
      C302 Human Resource Management and                                   Unit 1 Decentralisation: What and Why?
                                                                           Unit 2 Fiscal Decentralisation
                         Development                                       Unit 3 Cases in Fiscal Decentralisation
This course is concerned with the management of people in                  Unit 4 Administrative Decentralisation
public organisations. The staff of an organisation are its                 Unit 5 Decentralisation and Participation
principal resource, and therefore good practice in the                     Unit 6 Assessing Decentralisation in Practice
management and development of human resources makes an                     Unit 7 Local Economic Development
important contribution to the effectiveness of the organisation.           Unit 8 Decentralisation and Poverty
There are many different approaches and managers need to
understand which approach is likely to work best in specific
circumstances. While covering all the main aspects of HRM
                                                                             C305 Public Financial Management: Revenue
this course is designed to enable you to evaluate and choose
                                                                           This course addresses the theory and practice of public finance
between approaches. It would be beneficial to take Public Policy
                                                                           with special reference to how governments raise revenues. It is
and Management: Perspectives and Issues [C300] before this
                                                                           concerned with taxation, borrowing and aid. There are economic
course and Managing Organisational Change [C306] is best
                                                                           principles that bear on the issues of financing public expenditure
taken after it.
                                                                           and these are covered in the course. The course includes an
Unit 1 Human Resource Management: Introduction
                                                                           Appendix that covers the relevant microeconomics concepts that
Unit 2 Resourcing
                                                                           underlie taxation theory.
Unit 3 Performance
Unit 4 Development
Unit 5 Employee Relations
                                                                      17
At the same time the course recognises that decisions on                 Unit 3 International Public Sector Accounting Standards
taxation, borrowing and aid are not taken solely with reference          Board (IPSASB) and the Cash Basis Standards
to economics but also to politics.                                       Unit 4 International Accrual-Based Accounting Standards for
Unit 1 Tax Issues in Context                                             the Public Sector
Unit 2 Tax Incidence and Optimal Taxation                                Unit 5 Developing Public Sector Accounting Standards
Unit 3 Policy Objectives and Taxation                                    Unit 6 Public Financial Management Benchmarks and
Unit 4 Tax Policy Issues in Developing and Transition                    Review
Countries (I)                                                            Unit 7 Public Sector Audit – Standards and Guidance
Unit 5 Tax Policy Issues in Developing and Transition                    Unit 8 Public Sector Audit – Practise
Countries (II)
Unit 6 Local Revenues in Developing and Transition
Countries                                                                       C311 Privatisation and Public–Private
Unit 7 Deficits and Debts
Unit 8 Foreign Aid and Debt Relief                                                                 Partnerships
                                                                         After a wave of privatisations in western and eastern Europe,
                                                                         with a later series of privatisations in Africa and Asia,
                                                                         governments are now faced with decisions about what to do with
       C306 Managing Organisational Change
                                                                         remaining state owned enterprises and public services. Options
The public sector is going through substantial change. We first
                                                                         include privatisation by trade sale or public offering, contracting
saw a desire to scale-down the scale and scope of the public
                                                                         out, use of voluntary agencies, public–private partnerships to
sector, with an emphasis on privatisation and „downsizing‟.
                                                                         finance public service infrastructure and innovative forms of
While these processes continue around the world, more recently
                                                                         ownership. This course is designed to help people making and
we also see a desire to improve the capabilities of the public
                                                                         advising on these decisions.
sector, often described in terms of capacity building, or
                                                                         The course is based on theory and practical application through
institutional or sectoral development. This in turn leads to
                                                                         case studies of privatisation and other alternatives throughout the
significant changes to, and within, individual public sector
                                                                         world, ranging from examples of obvious failure such as the
organisations. At the same time, new managerial processes
                                                                         railways in the United Kingdom to apparent successes such as
associated, for example, with human resource management or
                                                                         Kenya Airways. The emphasis of the course is on critical
management information systems have been introduced. This
                                                                         analysis of the alternatives.
course is about how managers understand and implement
                                                                         Unit 1 Introduction to Privatisation in the OECD Countries
organisational change, thereby helping them to fulfil their
                                                                         Unit 2 Scale and Methods of Privatisation in Africa, Latin
responsibilities.
                                                                         America and Asia
Unit 1 Organisations and Environments
                                                                         Unit 3 Impact of Privatisation
Unit 2 Organisational Change
                                                                         Unit 4 Case Studies in Privatisation
Unit 3 Organisational Structure and Change
                                                                         Unit 5 Outsourcing, Contracting and Competition
Unit 4 Organisational Culture and Change
                                                                         Unit 6 Case Studies in Procurement
Unit 5 Power, Politics and Change
                                                                         Unit 7 Public–Private Partnerships: Principles
Unit 6 Leadership and Organisational Change
                                                                         Unit 8 P–PP: Cases and Conclusions
Unit 7 Learning and Organisational Change
Unit 8 Strategies for Change
                                                                                    C312 Public Policy and Strategy
                                                                         This is a course about the policy process in governments and
   C307 Project Appraisal and Impact Analysis
                                                                         public agencies. It is designed to develop the skills and
The purpose of this course is to give a theoretical and applied
                                                                         understanding of people who are engaged in the processes of
background to investment finance; the project cycle from project
                                                                         policy-making, implementation and evaluation, whether as
identification to project and programme appraisal techniques,
                                                                         professionals, politicians, advisors or citizens. The central
including financial and economic analysis; impact assessment
                                                                         concept is a rational approach to policy making and the
and risk analysis.
                                                                         institutional and political and social variables that detract from
Unit 1 Project Appraisal and Evaluation: an Introduction
                                                                         such an approach.
Unit 2 Investment Appraisal Techniques
                                                                         Unit 1 The Policy Analysis Model and Alternatives
Unit 3 Social Cost-Benefit Analysis
                                                                         Unit 2 Stakeholders, Data Collection and Analysis
Unit 4 Valuation Techniques, Applications in various sectors
                                                                         Unit 3 Implementation: Policy Instruments and Service
and case studies
                                                                         Provision
Unit 5 Risk and Uncertainty Analysis in Project Appraisal
                                                                         Unit 4 Allocating Resources and Assigning Responsibilities
Unit 6 Distributional Issues and Social Cost-Benefit Analysis
                                                                         Unit 5 Performance Management and Monitoring
Unit 7 Environmental and Social Impact Assessment (ESIA)
                                                                         Unit 6 Policy Evaluation
Unit 8 Impact Assessment: Additional Tools and Techniques
                                                                         Unit 7 Strategic Planning and Policy Making
                                                                         Unit 8 Policy Networks and Policy Transfer – Policy in a
                                                                         Globalised World
 C310 Public Financial Management: Reporting
                           and Audit
Studying this course will enable students to read public                     C313 The International Monetary Fund and
accounts, contribute to their production and understand the audit                              Economic Policy
process. It covers the main accounting standards for public
                                                                         Few countries have complete autonomy in macroeconomic
services in use around the world. This course has been
                                                                         policy. For many, policy is conducted in collaboration with the
developed in association with the Association of Chartered
                                                                         International Monetary Fund (IMF) or supervised by the IMF.
Certified Accountants (ACCA).
                                                                         The course examines the changing roles of the IMF, the nature
Unit 1 Introduction to Public Sector Accounting
                                                                         of economic policies it encourages countries to pursue, and some
Unit 2 Accounting Bases and Standards
                                                                         of the effects these policies have on the economic environment
                                                                         of business, on the financial sector, and on social conditions.
                                                                    18
The course gives a simple introduction to the basic IMF                    This course concentrates on the principles of bank management
economic policy framework, „financial programming‟. Using                  of assets and liabilities. It teaches the principles of bank balance
different types of countries, including transition economies and           sheet management and money market operations, liquidity
developing countries as case studies, it enables students to study         ratios, and capital adequacy ratios. The course also covers issues
issues such as the role of capital controls and the problems of            of bank supervision and regulation. It examines the role and
highly indebted countries.                                                 importance of bank financial management to the modern bank,
Unit 1 Macroeconomic Stabilisation and the Role of the IMF                 and teaches the basic models of financial management taught by
Unit 2 The IMF‟s Approach to Stabilisation                                 University Economics Departments and Business Schools,
Unit 3 Alternative Approaches to Stabilisation                             which were constructed from the experience of mature capitalist
Unit 4 Stabilisation and the Financial Sector                              economies. The course also discusses the various trends shaping
Unit 5 Stabilisation Policy and the Financial Sector:                      banking markets, such as institutionalisation, securitisation,
Institutional Responses to Recent Crises                                   globalisation and concentration.
Unit 6 Stabilisation and the Financial Sector: Some                        Unit 1 Banking Innovations and Risk
Challenges and Controversies                                               Unit 2 Bank Accounts: A Useful Tool if Handled with Care
Unit 7 Stabilisation and Low-income Countries                              Unit 3 Bank Valuation
Unit 8 Challenges for Low-income Countries                                 Unit 4 Bank Risk Management: Liquidity Management
                                                                           Unit 5 Bank Risk Management: Interest Rate Risk
                                                                           Management
     C319 Quantitative Methods for Financial                               Unit 6 Cost of Funds and the Funding of Operations
                         Management                                        Unit 7 Bank Risk Management: Credit Risk
                                                                           Unit 8 Capital Management
This course teaches the mathematical and statistical tools used in
the analysis of financial instruments and financial markets,
including the calculation of financial market yields and prices;
frequency distributions; probability, data analysis; correlation                  C323 Risk Management: Principles and
and regression. EViews Econometric software is provided to                                            Applications
students.                                                                         C223 for students registered for the MBA degree and
Unit 1 Financial Arithmetic and Valuation of Bonds and                                      Postgraduate Diploma in Banking
Stocks                                                                     Risk Management: Principles & Applications examines the
Unit 2 Statistical Concepts and Probability Theory                         techniques and the foundation of risk management in
Unit 3 Statistical Inference                                               corporations. It covers the use of derivatives, portfolio
Unit 4 The Classical Linear Regression Model                               allocation, the value of risk, and the management of credit risk
Unit 5 Statistical Inference in the Classical Linear Regression            and operations risk. This course has four main aims: to illustrate
Model                                                                      the main types of risk; to present the most important ideas and
Unit 6 The Multiple Linear Regression Model                                methods used in the analysis of portfolios of financial securities,
Unit 7 Topics in the Multiple Linear Regression Model                      (including stocks and bonds); to explain how rational investors
Unit 8 Risk Measurement and Investment Decisions                           can use financial derivatives (mainly futures and options) in
                                                                           order to alter the risk of their investment position; and to
                                                                           illustrate some more specialised risk management techniques
                 C321 Corporate Finance                                    (such as Value at Risk and Credit Risk).
       C221 for students registered for the MBA degree and                 Unit 1 Introduction to Risk Management
                Postgraduate Diploma in Banking                            Unit 2 Portfolio Analysis
This course enables students to relate principles and practice to          Unit 3 Management of Bond Portfolios
the financing decisions of enterprises in modern economies. It             Unit 4 Futures Markets
analyses the decisions firms make about financing their                    Unit 5 Options Markets
investments in productive capital. It aims to enable students to           Unit 6 Risk Management with Options
understand and analyse the theoretical principles relating to              Unit 7 Value at Risk
corporate finance, and the controversies and criticisms which              Unit 8 Credit Risk
surround these theoretical propositions. The course focuses on
the relation between corporations‟ decisions on investing in
productive (physical) assets and issuing financial liabilities, and            C325 Macroeconomic Policy and Financial
the markets in the financial liabilities (equities and debt) which                                    Markets
they issue.                                                                       C225 for students registered for the MBA degree and
Unit 1 Perspectives on corporate finance                                                   Postgraduate Diploma in Banking
Unit 2 Net Present Value and capital budgeting decisions                   This course focuses on the relationship between macroeconomic
Unit 3 Risk, capital market equilibrium and capital budgeting              policies and financial markets. It examines questions such as:
decisions                                                                  how do central banks‟ policies on interest rates and credit relate
Unit 4 Efficiency of capital markets and implications for                  to financial markets? What is the relation between budget
corporate financing decisions                                              deficits and financial markets? How do financial markets relate
Unit 5 Dividend policy                                                     to investment and savings flows? The course includes both
Unit 6 Capital structure I                                                 theory and empirical material.
Unit 7 Capital Structure II: Information Asymmetries and                   Unit 1 Macroeconomics and the World of Finance
Agency Costs                                                               Unit 2 Savings and Finance
Unit 8 Mergers                                                             Unit 3 Investment and Financial Markets
                                                                           Unit 4 Monetary Policy and the Central Bank
                                                                           Unit 5 Fiscal Policy and Government Finances
        C322 Bank Financial Management                                     Unit 6 Expectations, Inflation and Interest Rates
      C222 for students registered for the MBA degree and                  Unit 7 Foreign Exchange Markets and Foreign Trade
               Postgraduate Diploma in Banking                             Unit 8 International Capital Flows and Financial Markets


                                                                      19
                                                                          as guiding through associated readings. EViews Econometric
         C326 Banking and Capital Markets                                 software is provided to students.
       C226 for students registered for the MBA degree and                Unit 1 Dummy Variables
                Postgraduate Diploma in Banking                           Unit 2 Dynamic Models: Lags and Expectations
This course analyses the environment of international                     Unit 3 Simultaneous Equation Models
management. It looks at global financial markets, including               Unit 4 The Identification Problem
forex, bond and derivative markets, international financial               Unit 5 Simultaneous Equation Models: Estimation
instruments, international banking and the final and legal aspects        Unit 6 Univariate Time Series: Stationarity and Non-
of regulation.                                                            stationarity
Unit 1 Bank-Based vs Market-Based Financial Systems                       Unit 7 Multivariate Time Series Analysis
Unit 2 Why do Banks Exist?                                                Unit 8 Forecasting
Unit 3 Why Banks Exist: Explanations Based on their Lending
Unit 4 Banks vs Capital Markets
Unit 5 Credit Rationing and Overlending                                                         C333 Derivatives
Unit 6 Bank Runs and Regulatory Responses                                 The expansion of financial markets since 1973 has been founded
Unit 7 Financial Crisis                                                   on the growth of derivatives, both over the counter derivative
Unit 8 Portfolio Analysis                                                 contracts and exchange traded contracts. It was made possible by
                                                                          the development of models for valuing derivatives based upon
                                                                          the mathematics of stochastic calculus. In this course you learn
              C329 International Finance                                  the application of those principles to the valuation of derivatives.
This course concentrates on external finance and foreign                  Unit 1 Derivatives contracts
exchange and relates these to macroeconomic behaviour. The                Unit 2 Properties of stock options
course introduces the major institutions of international finance,        Unit 3 The behaviour of the stock price and the Black-
examines empirical data on the financial flows of the world               Scholes model
economy and provides the basic principles for analysing them.             Unit 4 Greek letters and trading strategies
Unit 1 Evolution of the International Financial System                    Unit 5 Interest rate models
Unit 2 Foreign Exchange Markets                                           Unit 6 Credit derivatives and credit risk
Unit 3 The Balance of Payments                                            Unit 7 Some exotic options
Unit 4 Balance of Payments: The Mundell-Fleming Approach                  Unit 8 Further numerical procedures
Unit 5 Balance of Payments: The Monetary Approach
Unit 6 Fixed and Flexible Exchange Rate Systems
Unit 7 Currency Blocs, Financial Integration and                               C338 Introduction to Law and to Finance
International Coordination                                                This course provides sufficient knowledge of the main ideas and
Unit 8 Foreign Exchange Problems and Policies of                          methods used in law and finance for students (whose academic
Developing Countries                                                      background is very likely to lie either in Law or in Finance but
                                                                          not in both), to proceed with both the Law-based and the
                                                                          Finance-based courses making up the remainder of the MSc
C330 Econometric Principles and Data Analysis                             degree. In Finance, the course aims to present the main ideas and
This course introduces students to the major method                       methods in mathematics that are used in financial analysis. The
underpinning econometric work at an introductory level, linear            emphasis throughout is on the applications of the mathematical
regression. The course requires students to work with data,               concepts to finance. In Law, the course provides the foundations
using EViews Econometric software, and guides them though                 of legal knowledge necessary for those students with no
linear regression as a tool to enable students to use data to make        knowledge of law as well as an introduction to the common law
empirical estimates of economic relationships. It also introduces         for those students with a civilian law qualification. The emphasis
students to the process of framing and testing a hypothesis, a            is on the fundamental commercial subjects.
process which gives econometric work its rigour.                          Unit 1 Introduction to Law
This course is extended by Econometric Analysis and                       Unit 2 Sources of Law and How to Use Them
Applications [C332] which teaches more advanced techniques in             Unit 3 Introduction to Contract Law
quantitative methods.                                                     Unit 4 Introduction to Property Law
Unit 1 Introduction                                                       Unit 5 Introduction to Tort Law
Unit 2 The Classical Linear Regression Model                              Unit 6 Returns and Time – the Price of Time
Unit 3 Hypothesis Testing                                                 Unit 7 Returns and Risk
Unit 4 The Multiple Regression Model                                      Unit 8 Interpreting Financial Sector Data
Unit 5 Heteroscedasticity
Unit 6 Autocorrelation
Unit 7 Non-normal Disturbances                                                C339 Legal Aspects of Corporate Finance
Unit 8 Model Selection and Course Summary                                 A good legal framework for corporate finance can be seen as
                                                                          part of a virtuous circle that helps to promote a strong securities
                                                                          market, which in turn provides the cheapest finance for the
  C332 Econometric Analysis and Applications                              companies that are seeking it. This course examines the legal
This course looks at errors and disturbances within regression            components of the necessary institutional framework for vibrant
analysis and increases students understanding of regression               corporate finance in the light of English law. It provides an
methods by looking at simultaneous equation models. It                    understanding of the essential elements of the legal principles
examines features which make models more dynamic, including               and institutions governing corporate finance at the national and
building in lags and expectations, short and long run effects. The        international level. The course complements Corporate Finance
course builds towards multivariate time series analysis,                  [C321], and together they provide a comprehensive and coherent
concluding with forecasting. The course units provide a study             appreciation of the financial and legal aspects of the subject. The
guide through the ideas and issues central to each topic, as well         teaching is based on English law, with reference to the law of
                                                                          other jurisdictions where relevant.
                                                                     20
Unit 1    Incorporation and the Corporate Constitution                    Unit 1 The International Context of Finance
Unit 2    Financial Structure and Membership                              Unit 2 The Markets for Foreign Exchange
Unit 3    The Taxation of Companies                                       Unit 3 Exchange Rates and Prices
Unit 4    Corporate Governance                                            Unit 4 Exchange Rates and Interest Rates
Unit 5    Public Disclosure of Information                                Unit 5 Managing Foreign Exchange Exposure
Unit 6    Raising Capital from the Public                                 Unit 6 International Corporate Finance and Project Finance
Unit 7    Regulation of Takeovers and Mergers                             Unit 7 Capital Structure and Cost of Capital in International
Unit 8    Corporate Collapse                                              Finance
                                                                          Unit 8 Corporate Finance and Currency Crises

                    C340 Financial Law
       C240 for students registered for the MBA degree and                     C343 Regulation of International Capital
                 Postgraduate Diploma in Banking                                                       Markets
This course examines the legal aspects of finance. It outlines the
                                                                          This course is intended to provide a grounding in the regulatory
basic legal principles and institutional preconditions of finance
                                                                          issues relating to international capital markets and several
and financial markets, therefore complementing the remaining
                                                                          important domestic and regional capital markets, such as US
law courses, which are concerned with more specific topics. It
                                                                          markets, the UK market, the Japanese market and the EU
focuses neither on borrowers and lenders nor does it exclusively
                                                                          dimension.
examine the instruments, contracts and transactions by which
                                                                          Unit 1 Introduction to Financial Regulation
finance is supplied. It nevertheless focuses on the broader
                                                                          Unit 2 Central Banking and Banking Regulation
picture; and examines finance against the general institutional
                                                                          Unit 3 Introduction to International Capital Markets
framework of market-based economies. It seeks to outline the
                                                                          Unit 4 Regulation of Primary Securities Markets in the
legal institutions which are necessary for the development of
                                                                          United States
financial markets and then provides a concise overview of the
                                                                          Unit 5 Financial Integration and Regulation of Primary
most basic of them. The course is based on English financial law
                                                                          Securities Markets in the European Union
although it may occasionally adopt a comparative perspective of
                                                                          Unit 6 International Regulation of Securities Firms
the laws of other jurisdictions with key international financial
                                                                          Unit 7 International Regulation of Secondary Securities
centres.
                                                                          Markets
Unit 1 Introduction to Financial Law
                                                                          Unit 8 Global Capital Markets and Development of
Unit 2 The Needs of Finance and the Character of English
                                                                          International Rules
Financial Law
Unit 3 Deposits and Bank Accounts
Unit 4 The Law Relating to Money and Payments
Unit 5 The Law Relating to Loans and Credit                                             C344 Corporate Governance
Unit 6 The Law of Secured Finance                                         This course analyses legal/political/economic features of major
Unit 7 The Law Relating to the Control of Financial Crisis                corporate governance systems, examining how corporate
Unit 8 Questions of Liability                                             governance systems influence the performance of individual
                                                                          firms and the allocation of capital within a country. It
                                                                          investigates the evolution of diverse ownership and governance
                                                                          structures across different economies.
   C341 Legal Aspects of International Finance
                                                                          Unit 1 Definitions of corporations and corporate governance
This course provides the legal aspects to complement the
                                                                          Unit 2 Theory of the firm
financial courses Banking and Capital Markets [C326] and
                                                                          Unit 3 Corporate governance and the role of law and the state
Finance in the Global Market [C342]. The teaching is based on
                                                                          Unit 4 Corporate governance systems: equity-led, bank-led
English law, with reference to the law of other jurisdictions
                                                                          and family-led
where relevant. The course shows how contractual principles are
                                                                          Unit 5 Control and board composition
applied to commercial fundraising transactions, and how to
                                                                          Unit 6 Control and CEO compensation
differentiate between legal principles and the market practices
                                                                          Unit 7 International corporate governance
that shape these transactions.
                                                                          Unit 8 Corporate governance guidelines and codes of best
Unit 1 Introduction to the Law of International Finance
                                                                          practice in developed, developing and transition economies
Unit 2 Legal Aspects of International Debt Securities
Unit 3 Legal Aspects of Financial Derivatives
Unit 4 Eurodollar Deposits and Syndicated Loans
Unit 5 Payments and Securities Settlement Systems                         C345 Law and Regulation of Electronic Finance
Unit 6 Project Finance                                                                       and Internet Banking
Unit 7 Legal Issues of Sovereign Debt                                            C245 for students registered for the MBA degree and
Unit 8 Conflict of Laws and International Finance                                          Postgraduate Diploma in Banking
                                                                          This course aims to introduce and discuss some of the main legal
                                                                          problems arising from the provision of financial services, and
          C342 Finance in the Global Market                               the creation of financial markets. It goes on to introduce
The main objective of this course is to study the economist's             regulatory issues that must be considered when operating in the
perspective on corporate finance in a global market, which is a           field of finance, with particular attention given to the law of
practice-oriented perspective. The examination of the                     electronic finance and Internet banking, as well as the main legal
institutions and practices of corporate financing in the global           issues pertaining to online securities trading and the impact of
market and the key strategy problems that have arisen in recent           the Internet in capital markets. The course concludes with an
decades are the main concern of this course. In other words, it is        analysis of the issues that arise between online market
the perspective that an economist would use when advising                 participants operating under different systems of law.
corporations on how to work within the modern international
financial system and how to overcome its passive impact on                Unit 1 Introduction to Electronic Finance and Internet
business operation.                                                       Banking

                                                                     21
Unit 2 Basic Legal Concepts and Foundations of Electronic                   Unit 1    The Pre-Reform Economy
Banking and Financial Activities                                            Unit 2    Economic Reforms in China
Unit 3 Electronic Finance and the Globalisation of Financial                Unit 3    Management Reforms
Markets                                                                     Unit 4    State Enterprise Reforms
Unit 4 Prudential Regulation and Supervision of Electronic                  Unit 5    The Non-State Sector
Finance and Banking                                                         Unit 6    Reform and Development in China‟s Financial Sector
Unit 5 Law of Electronic Banking in the United Kingdom                      Unit 7    Capital Market Development in China
Unit 6 Regulation of Securities Activities over the Internet                Unit 8    Monetary and Exchange Rate Policy
Unit 7 EU Law – The Financial Services Action Plan
Unit 8 Cross-Border Electronic Contracts
                                                                                 C350 Management in China: International
                                                                                                    Perspectives
           C347 Cross Cultural Management                                   This course concerns the study and analysis of contemporary
This course discusses and analyses some of the many processes               international business and management developments in China.
of strategic decision-making that exist across a range of                   The course is multi-disciplinary in content, and covers such
international and cross-cultural management contexts. Particular            topics as economics, international trade and business
attention is given to exploration of the significance of culture in         management, negotiation, and conflict management.
strategic decisions related to processes of human resource                  Unit 1 Key Perspectives and Reforms
management (HRM) and marketing communications,                              Unit 2 International Trade
encompassing elements of risk management, ethics, and the                   Unit 3 Foreign Direct Investment
management of diversity, using case studies drawn from a range              Unit 4 Economic Integration – Hong Kong and Taiwan
of international management contexts across Asia, Europe,                   Unit 5 Business Networks and Investment by Overseas
Africa and the Americas.                                                    Chinese
Unit 1 International Management and Culture                                 Unit 6 Investment Strategies and Joint Ventures
Unit 2 Comparing Cultures                                                   Unit 7 Negotiating with the Chinese
Unit 3 Movement in the Culture                                              Unit 8 Managing Business Alliances in China
Unit 4 Organisational Culture
Unit 5 Culture and Management Communication
Unit 6 Needs and Incentives – An International Management
                                                                                    C351 Topics in the Chinese Economy
Perspective
Unit 7 Dispute Resolution and Negotiation                                   This course is designed to introduce students to a wide variety of
Unit 8 Global Staffing – Cross-Cultural Dimensions                          issues that are important for China‟s present and future
                                                                            economic and social development. The choice of topics is
                                                                            intended to help throw light on the nature, rationale and impact
                                                                            of China‟s post-1978 reform strategy. Neither this strategy nor
           C348 International Management                                    its underlying policies can, however, be understood without
This course provides a case study based analysis of international           reference to developments that took place during the post-1949
business strategy. Significant attention is given to analysis of the        era under Mao Zedong. Accordingly, the discussion of each
experiences of a wide range of firms that have competed                     topic will give consideration to the pre-1978 background of
successfully on the global stage, and some that have not, and to            more recent developments. Upon successful completion of this
contextualising and evaluating those experiences. Learning                  course, students should be able to understand the major
about firms that have experienced differing degrees of success              economic developments that have taken place in China since the
will help students to assess strategic options in their own                 introduction of reforms in 1978, the key challenges in China‟s
careers. The ultimate aim of the course is to provide                       future economic and social trajectory, and her importance in the
frameworks, techniques and examples to help students                        international and regional economies.
participate successfully in the exciting and risky world of                 Unit 1 China‟s Transition to a Demographic „Golden Age‟
international business.                                                     Unit 2 The Employment Challenge
Unit 1 International Investment                                             Unit 3 The Role of Rural Sector in China‟s Growth Economy
Unit 2 Choice of Entry Strategy                                             Unit 4 Energy Security – Meeting China‟s Energy Needs in
Unit 3 International Production and Sourcing                                the twenty-first century
Unit 4 International Marketing                                              Unit 5 The Sustainability of China‟s Growth
Unit 5 International Organisation                                           Unit 6 The Impact of Economic Growth on Welfare in China
Unit 6 Financial Management in the International Business                   Unit 7 Economic Integration across the Taiwan Straits
Unit 7 Assessing Country Competitiveness                                    Unit 8 China‟s Future Economic Trajectory
Unit 8 Assessing Country Risk

                                                                                     C352 International Human Resource
       C349 Management in China: Domestic                                                           Management
                         Development                                        Students will be introduced to the basic concepts of international
This course is concerned with an analysis of the major domestic             human resource management and will survey the span of British
issues that have affected the development and growth of China‟s             and American human resource systems as well as consider how
economy. This includes China‟s development strategy, the                    far British and American concepts of HR apply in a Chinese
changing role of the state and its enterprises, the emergence of a          context.
private sector, reforms in management practices, and financial              Unit 1 Study of International Human Resource Management
and exchange rate policy. It also covers a wide range of issues             Unit 2 The National Context of Human Resource
related to the study of management, including theories of                   Management
management and their application to China‟s domestic economic               Unit 3 The National Context of Human Resource
development.                                                                Management – case studies
                                                                            Unit 4 Managing HR across the World

                                                                       22
Unit 5 Differentiation and Integration                                        C357 Microeconomic Principles and Policy
Unit 6 Knowledge Transfer within a Multi-National                         This course covers the principles underlying consumer demand
Company                                                                   and producer supply. It also examines different market structures
Unit 7 HRM in International Joint Ventures                                and implications of these for the producing and output decisions
Unit 8 Foreign Assignments – Conclusion to the Course                     of firms
                                                                          Unit 1: Concepts of Markets, Demand and Supply
                                                                          Unit 2: Consumer Theory
                 C353 Research Methods                                    Unit 3: Theory of Production and Costs
The purpose of the course is to provide students with a thorough          Unit 4: Profit Maximisation and Competitive Supply
understanding of the theoretical concepts, methodological                 Unit 5: Non-Competitive Market Structures
approaches and reporting issues that underpin good quality                Unit 6: Factor Input Markets
research projects. It is a prerequisite course for completing a           Unit 7: General Equilibrium, Efficiency and Pareto Optimality
dissertation. The course outlines the issues involved in planning,        Unit 8: Externalities, Public Goods and Asymmetric Information
designing, executing and reporting research. In addition it
provides students with the opportunity to develop quantitative
and qualitative skills, depending on the dissertation topic and                    C358 Modelling Firms and Market
research interests.
Unit 1 The Nature of Research
                                                                          This course provides an introduction to the economics of
Unit 2 Planning and Designing Research                                    information and uncertainty. Multi-person decision
Unit 3 Reviewing the Literature and Making Methodological                 problems play a crucial role in industrial economics. This
Choices                                                                   course begins with the basic concepts of game theory,
Unit 4 Data                                                               before examining the problems of private information and
Unit 5A Interviews, Focus Groups and Surveys                              analysing the role of asymmetric information in market
Unit 5B Introduction to Data Analysis I                                   interactions under various economics contexts.
Unit 6A Fieldwork and Observation                                         Unit 1: Static Games of Complete Information
Unit 6B Introduction to Data Analysis II                                  Unit 2: Dynamic Games of Complete Information
Unit 7 Validity and Reliability                                           Unit 3: Static Games of Incomplete Information
Unit 8 Writing and Presenting Research                                    Unit 4: Dynamic Games of Incomplete Information
                                                                          Unit 5: Hidden Action (Moral Hazard)
                                                                          Unit 6: Hidden Characteristics (Adverse Selection)
                      C354 Dissertation                                   Unit 7: Auctions
Students who wish to enroll to write a dissertation must first            Unit 8: General Competitive Equilibrium
successfully complete C353 Research Methods. The purpose of
the dissertation is to enable students to develop and demonstrate
their capacity to carry out a substantial piece of independent                        C359 Financial Econometrics
academic work on a selected topic. Students will be assessed on
their capacity to define a topic for examination, to articulate a         Financial markets generate vast amounts of data on asset returns,
coherent scheme for examining this topic, to gather the                   their volatility, and other financial variables in long and high-
necessary information and to analyse and present this                     frequency time series. The ability to analyse market behaviour
information in a way which satisfactorily assesses the topic              requires knowledge of the properties of time series and
which they have set themselves.                                           appropriate estimation methods. The objective of the course is to
                                                                          extend your knowledge and equip you with methods and
                                                                          techniques that allow you to analyse these finance-related issues.
                                                                          It would be beneficial to complete the course Econometric
   C356 Banking Regulation and Resolution of                              Analysis & Applications [C332] before taking this course.
                        Banking Crises
                                                                          Unit 1: Statistical Properties of Financial Returns
       C256 for students registered for the MBA degree and
                                                                          Unit 2: Matrix Algebra, Regression and Applications in Finance
                Postgraduate Diploma in Banking
                                                                          Unit 3: Maximum Likelihood Estimation
In this course you study technical aspects of bank regulation,
                                                                          Unit 4: Univariate Time Series and Applications to Finance
supervision, and intervention to resolve crises. It relates the
                                                                          Unit 5: Modelling Volatility – Conditional Heteroscedastic
techniques to fundamental principles and to examples of
                                                                          Models
countries‟ experience.
                                                                          Unit 6: Modelling Volatility and Correlations – Multivariate
Unit 1 Why and how should banks be regulated?
                                                                          GARCH Models
Unit 2 Banking supervision and regulation
                                                                          Unit 7: Vector Autoregressive Models
Unit 3 The prudential supervision of banks
                                                                          Unit 8: Limited Dependent Variable Models
Unit 4 Bank crises: Weak banks and lender-of-last-resort
support
Unit 5: Restructuring failed banks and protecting depositors
Unit 6 The institutional structure of financial regulation
Unit 7     Regulation, supervision and financial stability
Unit 8     Issues in international supervision and regulation




                                                                     23
                                   Schedule C / Scheme of award

  MSc and MBA degrees                                       Postgraduate Diplomas


  Mark range                                                 Mark range
  70 +                   Distinction                         50 +                           Pass

  60–69                  Merit                               0–49                           Fail

  50–59                  Pass

   0–49                  Fail



For the award of an MSc degree a student must have attempted and passed eight courses.

For the award of the MBA degree, a student must have attempted and passed six courses.

For the award of a Postgraduate Diploma, a student must have attempted and passed four courses.

Assessment for the courses which constitute each award is as follows:

      MSc and MBA degrees and Postgraduate Diplomas:
        assessment for each course (with the exception of C354 Dissertation) will be by one three-hour unseen written paper and
        compulsory assignments
        assessment for C354 Dissertation will be by a written dissertation.

The examinations are marked out of 100. A mark of 50 or more constitutes a Pass Grade for all MSc degrees, MBA degrees and
Postgraduate Diplomas.

To calculate the course score, the combined assignment grade is added to the written paper grade in the ratio 30:70.

Any re-sit mark overrides the first mark attained.

In order to pass a course, students are required to satisfy the Examiners in both elements of the assessment for the course concerned.

To be considered for the award of Merit (MSc and MBA students only), a student must obtain:

An average mark of 60% across all courses.

To be considered for the award of Distinction (MSc and MBA students only), a student must obtain:

A mark of 60% or more in each course; and obtain a mark of 70% or more in at least three courses.




                                                                    24
                                Schedule D / Assessment criteria


These guidelines reflect the standards of work expected at postgraduate level:

70+ as for (60–69%) below plus:
• Shows clear evidence of wide and relevant reading and an engagement with the conceptual
issues
• Develops a sophisticated and intelligent argument
• Shows a rigorous use and a sophisticated understanding of relevant source materials,
balancing appropriately between factual detail and key theoretical issues. Materials are
evaluated directly and their assumptions and arguments challenged and/or appraised
• Shows original thinking and a willingness to take risks.

60–69% as for (50–59%) below plus:
• Shows strong evidence of critical insight and critical thinking
• Shows a detailed understanding of the major factual and/or theoretical issues and directly
engages with the relevant literature on the topic
• Develops a focussed and clear argument and articulates clearly and convincingly a
sustained train of logical thought
• Shows clear evidence of planning and appropriate choices of sources and methodology.

50–59% (50% = pass mark):
• Shows a reasonable understanding of the major factual and/or theoretical issues involved
• Shows evidence of planning and selection from appropriate sources
• Demonstrates some knowledge of the literature
• The text shows, in places, examples of a clear train of thought or argument
• The text is introduced and concludes appropriately.

45–49%:
• Shows some awareness and understanding of the factual or theoretical issues, but with
little development
• Misunderstandings are evident
• Shows some evidence of planning, although irrelevant/unrelated material or arguments
are included.

44% or less:
• Fails to answer the question or develop an argument that relates to the question set
• Does not engage with the relevant literature or demonstrate knowledge of the key issues
• Contains clear conceptual or factual errors or misunderstandings.




                                                                   25
                                                 General Regulations

 These General Regulations govern all degrees and other awards placed at Level 7 of the Framework
            for Higher Education Qualifications (FHEQ). The FHEQ forms part of the academic
       infrastructure of the Quality Assurance Agency for Higher Education (QAA) in England and
                                                  Wales.
1.    The Regulations
                                                                          Terminology and definitions

Introduction                                                              1.9      The programmes of study leading to degrees and other
                                                                          awards may be referred to, in the Regulations, as
1.1    These General Regulations govern all degrees and                   „programmes‟. Postgraduate Certificates are referred to as
other awards placed at Level 7 of the Framework of Higher                 „certificates‟, and Postgraduate Diplomas as „diplomas‟.
Education Qualifications (FHEQ) as listed in paragraph 2.1.               Postgraduate degrees are referred to as „degrees‟.
Individual programmes of study leading to degrees and other
awards at those levels are governed by both these General                 1.10 These General Regulations describe the individual
Regulations and specific Programme Regulations.                           elements of a degree or diploma as „subjects‟. In the
                                                                          Programme Regulations, these may be called „courses‟,
1.2     The rules within these General Regulations apply, in              „units‟, „modules‟ or „sections‟.
their entirety, to all of the awards listed in paragraph 2.1,
except where indicated otherwise.                                         1.11 The term „examination‟ used in these Regulations
                                                                          refers to the entire assessment for a subject, and includes not
1.3     Registered External students are required to comply               only the written paper for that subject but also any
with these General Regulations and the appropriate                        coursework, project, dissertation or online participation that
Programme Regulations. They must also comply with the                     contributes towards the final assessment.
procedures, deadlines and instructions issued by the
University in, for example, the student handbook/manual and               1.12 „Credit‟ for a subject, on the basis of the same or an
Notice to Candidates. The University is not responsible for               equivalent subject previously passed, may be awarded to a
any consequences arising from failure to comply with these                student who has been registered with the University of
Regulations, procedures, deadlines or instructions.                       London for a programme of study. The mark obtained at the
                                                                          examination at which the subject was passed will be carried
1.4     It is a student‟s responsibility to ensure that his or her        forward to the student‟s record and will contribute towards his
choice of subjects complies with the Regulations that are                 or her award, in accordance with the criteria for awards given
current for that year.                                                    in the respective Programme Regulations.

1.5      The rules relating to a particular programme of study            1.13 „Exemption‟ from a subject may be granted to a
in any given year are those included in the Regulations for               student who has studied either for an award with another
that current year and not in the year in which the student                institution or for a programme of study with the University of
initially registered (see also paragraph 1.8).                            London, where the subject passed is not sufficiently
                                                                          equivalent for credit to be awarded. The mark obtained at the
1.6    On all matters concerning the interpretation of these              examination at which the subject was passed will not be
Regulations, or on which they are silent, the decision of the             carried forward to the student‟s record and therefore will not
University shall be final.                                                contribute towards his or her award.

Changes to the Regulations                                                1.14 The „Admission Notice‟ is provided to each student
                                                                          who has made an entry to an examination. The Admission
1.7     The Regulations are reviewed and published annually,              Notice contains the student‟s candidate number and
and certain programme details are subject to change. Each                 confirmation of the dates and time of the examination(s) for
year‟s Regulations booklet replaces the one for the previous              which he/she has entered.
year, and so students must ensure that they refer to the current
year‟s booklet at all times.                                              1.15 The „Notice to Candidates‟ contains prescribed rules
                                                                          for the examinations. The Notice to Candidates is provided to
1.8     Changes to the Regulations for registered students will           students together with their Admission Notice.
be introduced as follows:
                                                                          Student complaints procedure
     Two year‟s notice will be given when a subject is
     withdrawn, when a syllabus is amended substantially,                 1.16 The University has a Procedure for External student
     when a prerequisite for a subject is introduced, and when            complaints which can be found in the student
     the assessment method for a subject is changed.                      handbook/manual (or the equivalent publication) and on the
     Five year‟s notice will be given in the event that the               External System web site.
     University is required to withdraw the programme.
     All other aspects of the Regulations may be amended
     without notice provided there is no detriment to the                 2.     Awards to External students
     student or, where there is possible detriment, only with
     appropriate consultation. Normally, in the case of the               2.1     The University grants the following awards at Level 7
     latter, changes will be introduced for a new cohort of               of the FHEQ to External students:
     students only.                                                               Postgraduate Certificates
                                                                     26
       Postgraduate Diplomas                                                   degree, and in circumstances other than those
       Postgraduate (or Master‟s) degrees.                                     described in (a), may be considered for the award of a
                                                                               related certificate or diploma (if applicable), provided
2.2      The definition, level, volume and learning outcomes of                that he or she has satisfied in full the requirements for
these awards are described in the Framework for Higher                         the certificate or diploma concerned.
Education Qualifications, which can be accessed via the web
site for the Quality Assurance Agency for Higher Education              The award of the certificate or diploma will be with effect
(QAA) in England and Wales.                                             from the year in which the requirements for the certificate or
                                                                        diploma were satisfied.
2.3     The degrees, diplomas and certificates listed in
paragraph 2.1 are awarded without classification, although              2.9     An External student who has successfully completed
some may be awarded with a mark of Distinction or Merit                 the examinations for a certificate or diploma and has not
(see paragraph 1 of the Programme Regulations).                         accepted that award, may apply to transfer his or her
                                                                        registration to a related diploma or degree (if applicable)
2.4     A certificate under the seal of the University will be          subject to the rules of progression in paragraph 3 of both these
delivered to each successful student who is granted a degree            and the Programme Regulations. A student who has accepted
or other award. The date of the award will be as indicated in           the award of the certificate or diploma may also apply to
paragraph 1 of the Programme Regulations concerned.                     transfer his or her registration unless the Programme
                                                                        Regulations state otherwise.
2.5     The standard of a University of London award is the
same whether it is obtained by an External student or by a              2.10 An applicant who has previously received an award of
student who has been registered with a College of the                   the University of London, or whose registration with the
University. The University‟s Regulations (which govern all              University was terminated because he or she had exhausted
University of London awards) state that “candidates granted             the permitted number of attempts at an examination, may
degrees and other awards shall have attained the same                   apply to register again as an External student for a programme
academic standard irrespective of mode or place of study or             of study in a different subject or field of study.
examination”.
                                                                        2.11 Unless paragraph 1 of the relevant Programme
2.6     To be eligible for an award of the University as an             Regulations states otherwise, an applicant who has previously
External student, a student must have:                                  received an award of the University of London, or whose
      registered with the University as an External student             registration with the University was terminated because he or
      and                                                               she had exhausted the permitted number of attempts at an
      satisfied the requirements for the relevant award and             examination, may apply to register again for a programme of
      complied with the Regulations for the programme                   study in the same subject or field of study. All applications
      concerned in all respects and                                     will be considered on an individual basis. Permission to
      made satisfactory payment to the University of all due            register in these circumstances will be given at the discretion
      fees and accounts.                                                of the University and will be subject to any further conditions
The University reserves the right not to grant the award to             specified in these General Regulations and in the relevant
students who fail to satisfy any of these conditions.                   Programme Regulations, or by the University.

2.7     To register for a programme of study as an External             2.12 It is at the University‟s discretion to determine
student, an applicant must satisfy the conditions given in              whether a student who registers again for an award under
paragraph 4 of the relevant Programme Regulations. In                   paragraph 2.9 or 2.10 of the General Regulations can receive
addition, an applicant who was previously either registered as          credit for any subjects previously passed.
an
External student or enrolled at a constituent College or                2.13 A student who receives credit for subjects previously
Institute of the University of London must have made                    passed will not be permitted to re-enter the examination for
satisfactory payment to the University or College/Institute of          those subjects.
all due fees and accounts. An applicant who fails to satisfy
this condition will not be permitted to register, or to register        2.14 A former student of the University who is applying to
again, as an External student.                                          register again as an External student under the provisions of
                                                                        paragraphs 2.10 or 2.11 will be required to satisfy the entrance
2.8     An intermediate award or awards (i.e. a related                 requirements for the programme of study for which he or she
certificate or diploma), if applicable, may be granted to a             is applying and the conditions given in paragraph 2.7.
student registered for a diploma or degree in the following
circumstances:
(a)     At the discretion of the Board of Examiners, and as             3.     Application, entrance requirements
        indicated in paragraph 3 of the Programme                              and exemptions
        Regulations, a student registered for a diploma or
        degree who does not complete the programme of study
        or who does not satisfy the Examiners (at the level             Application
        required for the award) in all subjects may be awarded
        a related certificate or diploma (if applicable). Such          3.1     In order to be considered for registration as an
        students will be required to have satisfied the                 External student, applicants are required to submit an
        Examiners (at the level required for the award                  application in accordance with the procedures and deadlines
        concerned) in the subjects that comprise the certificate        given in the relevant prospectus.
        or diploma.
(b)     At the discretion of the University, and where
        permitted in Paragraph 1 of the Programme
        Regulations, a student registered for a diploma or
                                                                   27
                                                                        4.1    Students are required to comply with the rules of
                                                                        progression given in paragraph 3 of the Programme
                                                                        Regulations.
Entrance requirements
                                                                        4.2     Students are not required to enter examinations every
3.2    To be eligible to register as an External student for a          year nor to enter on the date they indicate at the time of
programme of study leading to an award at Level 7 of the                registration, unless the Programme Regulations state
FHEQ, an applicant must satisfy in full the entrance                    otherwise.
requirements specified in paragraph 4 of the relevant
Programme Regulations.
                                                                        Progression from a certificate or diploma to a
3.3     The University reserves the right to request applicants         related award
to provide evidence acceptable to the University of oral and
written competence in English before an offer of registration           4.3      There is no automatic progression between
can be made.                                                            certificates, diplomas and degrees. Satisfactory completion of
                                                                        a certificate or diploma does not in itself guarantee entry to a
Exemptions                                                              related diploma or degree. In order to proceed to a related
                                                                        award, a student registered for a certificate or diploma must
                                                                        normally successfully complete all the prescribed
3.4      At the discretion of the University, students who
                                                                        certificate/diploma subjects at the required level and receive a
satisfy the relevant entrance requirements to register for a
                                                                        recommendation from the Examiners that he or she may
programme of study and are appropriately qualified may
                                                                        proceed.
apply for exemption from specified subjects. Applications will
be considered on the basis of studies successfully completed
                                                                        4.4     A student who progresses from a certificate or
at a level considered by the University to be appropriate.
                                                                        diploma to a related award will be credited the same or
                                                                        equivalent subjects passed. Any restriction on the use of
3.5     Where permitted in paragraph 4 of the Programme
                                                                        credited subjects is given in the Programme Regulations.
Regulations students can be considered for exemption from up
to one third of the programme concerned. Exemption can be
                                                                        4.5     The attempts at any failed subjects which are common
granted from core and optional subjects, but cannot be granted
                                                                        to the diploma or degree to which the student progresses will
from the dissertation, project or final examination (as
                                                                        be carried forward and will count towards the number of
appropriate) of the programme.
                                                                        attempts permitted at those subjects.
3.6    No exemption will be granted unless the student has
made an application in accordance with the University‟s                 Progression from a short course
procedures and deadlines.
                                                                        4.6     Successful completion by formal assessment of a short
3.7      Applications for exemption cannot be considered after          course or courses may be taken into account for admission to
a student has made entry to the examination for the subject             a related or unrelated certificate, diploma or degree
concerned. Students who have failed an examination may not,
at a later stage, apply for exemption from that examination.            4.7      Successful completion by formal assessment of a short
                                                                        course or courses may be taken into account for credit towards
3.8    A fee is payable for all applications for exemption (see         a certificate, diploma or degree, provided that the application
paragraph 11).                                                          is made within three years of the completion of the relevant
                                                                        course or courses.
3.9    All exemptions are granted at the discretion of the
University.                                                             4.8     Successful completion of a short course or courses
                                                                        does not in itself automatically satisfy entry requirements for
3.10 Exemptions are valid only for a limited time and as                any certificate, diploma or degree or ensure credit.
indicated in the offer of exemption. If a student does not enter
an examination within this period, then the exemption will              4.9      A student who does not successfully complete the
lapse and it will be necessary to make a fresh application.             formal assessment for a short course will be permitted to
                                                                        proceed to a certificate, diploma or degree provided he or she
3.11 Exemptions are valid only for the particular                       satisfies the entrance requirements for the certificate, diploma
programme of study and subject for which they have been                 or degree concerned.
awarded. Exemptions will no longer be valid if the
programme is withdrawn before the student registers. Students           4.10 All applications for progression from a short course to
who transfer their registration to another programme may be             a certificate, diploma or degree will be considered on an
required to submit a further application for exemption.                 individual basis and permission to progress, and, where
                                                                        appropriate, to receive credit, will be at the discretion of the
3.12 Students who are exempt from a specific subject are                University.
not required or permitted to offer the same, or equivalent,
subject at a later stage.
                                                                        5.     Period of registration

4.     Rules of progression                                             5.1     The minimum and maximum periods of registration
                                                                        are described in paragraph 5 of the individual Programme
Progression within a programme of study                                 Regulations. No reduction in the prescribed minimum period
                                                                        of registration will be permitted, except within the parameters
                                                                        given in paragraph 5.2 and at the discretion of the University.

                                                                   28
5.2     Postgraduate Certificates may not be completed in less           6.3     The rules in paragraphs 6.4 to 6.9 apply both to
than six months. Master‟s degrees and Postgraduate                       students transferring between different programmes of study
Diplomas may not be completed in less than one year.                     and to students transferring within the same programme.
                                                                         Further rules are given in the relevant Programme
5.3     Where permitted in paragraph 5 of the Programme                  Regulations.
Regulations, application for a renewal of registration for a
further period may be made by students who have not                      6.4     All applications to transfer will be considered on an
completed all the requirements of the programme for which                individual basis, and permission to transfer will be at the
they are registered within the maximum period of registration.           discretion of the University and subject to the Programme
The University will take into account the progress made by               Regulations concerned. Students may be required to cancel
the student during registration. A fee will be payable if                their registration and register afresh.
renewal is granted.
                                                                         6.5     Any additional fees payable (see also paragraph 11.5)
5.4    Where permitted in paragraph 5 of the Programme                   and any period of transferred registration granted shall be at
Regulations, an application for an extension of registration of          the discretion of the University. Any refund of fees already
one year beyond the prescribed maximum period may be                     paid will be subject to the conditions in paragraph 11.
made by students who have not completed all the
requirements of the award for which they are registered. A fee           6.6     An application to transfer which is submitted after a
may be payable.                                                          student has made entry to any examination will not be
                                                                         considered until after the result of that examination has been
5.5    Renewal of registration and extension of registration             published. The result of that examination will then be taken
are approved only at the discretion of the University and will           into account by the University in instances when permission
be subject to the Regulations in force at the time of renewal or         to transfer is dependent on the student‟s examination record
extension.                                                               and/or where the student is applying to transfer between the
                                                                         routes or schemes of the same programme of study.
5.6      Students who are permitted to proceed from a
certificate or diploma to a related diploma or degree (see               6.7     In certain circumstances, students who transfer may
paragraph 4) will have the maximum period of registration for            receive credit for subjects already passed. Details of such
the related award counted from the effective date of initial             credit arrangements are given in the Programme Regulations.
registration for the certificate or diploma for which they were
initially registered.                                                    6.8     Students who receive credit for subjects passed will
                                                                         not be permitted to re-enter the examination for those
5.7     Students who are permitted to proceed from a short               subjects. The marks obtained at the examinations at which the
course to a certificate, diploma or degree will be given a new           subjects were passed will contribute towards the student‟s
period of registration as an External student, effective from            award, in accordance with the criteria for awards given in the
the date of registration for the certificate, diploma or degree          respective Programme Regulations.
concerned. The maximum period of registration permitted will
be the same as for all other students registered for the same            6.9     Students who are not permitted to transfer to a
programme, as indicated in paragraph 5 of the relevant                   particular programme but who wish to register for that
Programme Regulations.                                                   programme must cancel their registration for the other award
                                                                         and apply to register afresh, subject to satisfying the
5.8     If a student fails to pay the appropriate fees or                requirements of paragraph 4 of the Programme Regulations.
breaches any relevant disciplinary conduct code, the                     Students who are permitted to register afresh in this way:
University reserves the right to apply the Code of Student                       will not be permitted to carry credit for any subjects
Discipline and The Suspension and Termination of                                 previously passed either to the programme concerned,
Registration of Students in Debt process as described in the                     or, in the event of a subsequent transfer, to another
University of London Ordinances (Ordinance 17 and 18                             programme and
respectively).                                                                   will not be permitted to carry any failed attempts at
                                                                                 subjects from their previous registration.

6.      Transfer                                                         Transfer of External students to a programme
                                                                         at Levels 4, 5 or 6 of the FHEQ
Transfer of External students to different
programmes at Level 7 of the FHEQ, and                                   6.10 Students registered for a programme of study at Level
within the same programme                                                7 of the FHEQ (see paragraph 2.1) are not permitted to
                                                                         transfer their registration to a programme at Levels 4, 5 or 6
                                                                         of the FHEQ. Students will instead be required to cancel their
6.1      Unless otherwise prohibited by the Programme
                                                                         existing registration and to submit a fresh application for
Regulations concerned, an External student registered for a
                                                                         registration and comply with the Regulations for the
programme of study at Level 7 of the FHEQ who wishes to
                                                                         programme concerned.
change to another programme at the same level may apply to
transfer his or her registration. The student will be required to
satisfy the regulations and entrance requirements for the                Registration and credit transfer of College-
programme to which he or she wishes to transfer.                         based students

6.2    A student registered for a programme of study with                6.11 A student in attendance at a College or Institute of the
more than one „scheme‟ or „route‟ may apply to transfer                  University of London may apply to complete their studies for
between those schemes or routes.                                         the same award as an External student and may be considered
                                                                         for credit and/or exemption for subjects previously passed. All

                                                                    29
applications for credit and/or exemption will be considered on           The University will not establish an alternative centre in those
an individual basis and at the discretion of the University.             countries.

6.12 Students who receive credit for subjects passed will                7.11 All examinations are held at the discretion of the
not be permitted to re-enter the examination for that subject.           examination centre and are subject to any conditions they may
The mark obtained at the examination at which the subject                impose.
was passed will contribute towards the student‟s award, in
accordance with the criteria for awards given in the respective          7.12 Students are required to apply to the relevant
Programme Regulations.                                                   examination centre for permission to sit an examination. The
                                                                         University can accept no responsibility for making
6.13 The rules concerning exemptions are given in                        examination arrangements on behalf of a student. It is entirely
paragraph 3.                                                             at the discretion of the examination centre to accept or refuse
                                                                         an entry to an examination.

7.      Assessment                                                       7.13 A fee is normally levied by all examination centres
                                                                         (other than London). This fee is payable by students each time
7.1     Students are required to satisfy the assessment                  they make an examination entry. The University cannot be
requirements for the subject(s) taken and may not make more              responsible for this fee nor can it influence the level of fee
than the number of attempts permitted in paragraph 8.                    charged.

7.2     An examination is governed by the Regulations in
force at the time of the examination and not at the time that a          8.     Number of attempts permitted
student was initially registered or first attempted the
examination concerned (but see also paragraph 1.8).                      8.1     A student who fails to satisfy the Examiners in an
                                                                         examination, and who has not yet satisfied the conditions for
7.3      In order to sit an examination, a student must:                 the Board of Examiners to determine his or her final result,
      have completed the relevant application and                        will be permitted or required to make one further attempt at
      registration/enrolment procedures with the University by           that examination. The maximum number of attempts
      the appropriate deadlines and be registered as an External         permitted at any examination is two.
      student for the programme concerned and
      have made an examination entry in accordance with both             8.2     A student who enters an examination hall to attempt a
      the University‟s and the appropriate examination centre‟s          written paper will be considered to have made an examination
      instructions and deadlines.                                        attempt. Unless otherwise stated in the Programme
                                                                         Regulations, absence from an examination will not count as
7.4     Except in the circumstances of paragraph 7.5, all                an attempt.
examinations by written paper, wherever held, will take place
on the same date and at the same time. The University                    8.3     The mark or grade awarded for a second attempt at an
reserves the right to set different papers in the same subject in        examination will supersede any previously awarded mark or
separate countries and in different time zones.                          grade for that examination, unless the Programme Regulations
                                                                         state otherwise.
7.5     In the event of any unavoidable delay in the
arrangement of examinations in a country other than the                  8.4     If a student fails to satisfy the Examiners at a second
United Kingdom, the examination centre will arrange for the              attempt at any examination his or her registration will cease
relevant papers to be taken with as little deviation as possible         unless the Programme Regulations permit the student to
from the original dates and times assigned to them. Students             proceed as the requirements for that award may still be
are required to abide by any such revised arrangements. The              satisfied, in which case the mark or grade obtained on the
University reserves the right not to mark a paper taken at a             latest occasion may be carried forward and may count towards
different time from that prescribed.                                     the final award.

7.6     Where it is deemed necessary, Examiners may change               8.5    Except as otherwise provided for by the University,
the format or rubric of a written paper, from that of a previous         students may not make a further attempt at any subject already
year, without prior notice to students.                                  passed or for which credit has been awarded.

7.7     Except where the syllabus/course outline or rubric for
a written paper for a particular subject indicates otherwise, all        9.     Students with a disability and/or
answers to examinations must be written in English.
                                                                                special needs
Examination centres
                                                                         9.1     The University has a policy for External students with
                                                                         a disability and/or special needs and a statement explaining
7.8   Examinations by written paper are held at established              this policy is given on the External System web site.
examination centres worldwide.
                                                                         9.2      As part of its policy, the University will make every
7.9   Outside the United Kingdom and Republic of Ireland,                reasonable effort to accommodate the requirements of a
examinations are conducted by independent bodies known as                student with a disability and/or special needs by, wherever
examination centres.                                                     possible, providing any study materials in a different format
                                                                         (e.g. large print) or another medium, and/or by making special
7.10 In countries where an established examination centre                examination arrangements. If the University is unable to
exists, students must use the facilities provided by that Centre.        provide the study materials in the format which has been

                                                                    30
requested, the University will endeavour to make an                     Permitted materials
alternative suggestion.
                                                                        10.4 A student may use in the examination only such
Special examination arrangements                                        books, notes, statutes, statistical tables, instruments, or other
                                                                        materials as are specifically permitted in the Admission
9.3     The University has a Panel which considers special              Notice/timetable. No other books, notes, instruments, or
examination arrangements for students with a disability and/or          other materials or aids whatsoever may be introduced into an
special needs. The aim of the Panel is to make sure that a              examination room or be handled or consulted during an
student with a disability and/or special needs is neither               examination. Any such materials or aids in the possession of a
disadvantaged nor advantaged when compared to other                     student on entry to the examination room must be deposited
students. The University cannot guarantee that special                  immediately with the Invigilator before the examination starts.
examination arrangements will be possible in every case.                It is an examination offence to introduce unauthorised
                                                                        materials into the examination room.
9.4     Applications from students with a disability and/or
special needs may be considered for the use of special aids or          10.5 The use of calculators in the examinations is strictly
for extra time in the examinations.                                     controlled. Students may use their own electronic calculators
                                                                        in the examinations provided that:
9.5     Special arrangements for examinations at an ad hoc              a) the Programme Regulations permit this
centre may be made in very exceptional circumstances and                b) the calculator complies with the specification given in
then only in the United Kingdom. Arrangements cannot be                         paragraph 10.6
made for oral or practical examinations to be held at an ad hoc         c) where no such permission is given in the Programme
centre, although in exceptional cases it may be possible to                     Regulations, calculators may not be used.
permit the use of special aids. Arrangements for examinations
in a student‟s home are not made. Additional fees may be                10.6 Where calculators are permitted, the following
payable for arrangements at an ad hoc centre.                           specification will apply, unless the Programme Regulations
                                                                        state otherwise:
9.6     A student who finds handwriting difficult due to                    Non-programmable. The use of a calculator or other
medical or learning difficulties must apply to the University               electronic device that communicates, stores textual or
for special arrangements to be made. The University will not                numerical information, or displays textual (except error)
transcribe illegible scripts. Any script deemed illegible by the            messages, graphical or algebraic information is strictly
Board of Examiners will be assigned a mark of zero and a fail               forbidden. The use of a calculator with alphabet and/or
result will be given. This will count as an attempt at the                  symbol keys not listed below is strictly forbidden.
examination.                                                                PDAs, mobile phones or other devices are forbidden
                                                                            Hand held
10.    Conduct of examinations                                              Compact
                                                                            Portable
10.1 All students sitting examinations are required to                      Solar and/or battery powered
comply with the rules governing the conduct of examinations                 Quiet in operation
given below and in the Notice to Candidates accompanying                    The use of calculators with the following symbols and
the Admissions Notice.                                                      functions only are permitted:
                                                                            Digit keys 0 to 9 and decimal point;
Representations about examinations                                          Keys for basic arithmetical functions of addition,
                                                                            subtraction, multiplication, division and equals;
10.2 Students who wish the Board of Examiners to know of                    Percentage key;
any illness or other adequate cause which they thinks may                   Square root key;
have affected their performance must immediately inform the                 Basic 3 key memory (MRC, M-, M+);
Examinations Office and furnish a supporting medical                        Clear keys (C, AC);
certificate or other supporting certification obtained at the               On/off key.
time of illness. Notification received more than three weeks
after the date of the last examination will not be taken into           10.7 The use of any calculator other than the type specified
account by the Examiners.                                               in the paragraph 10.6 of the General Regulations, or in
                                                                        paragraph 6 of the Programme Regulations, will constitute an
10.3 Appeals against the results of examinations may not                examination offence and will be subject to the provisions in
be made on academic grounds. The University will consider               paragraph 10.16 of these regulations. Students are responsible
representations concerning examination results made on the              for ensuring that their calculators are in working order for the
grounds of administrative error or where there is concern that          examination. Students must ensure that they have alternative
the examination may not have been conducted in accordance               means of calculation in the event of the calculator failing
with the relevant Instructions and/or Regulations. An                   during the examination, either through the use of a second
administration fee (currently £50 per paper) is payable for the         calculator, which complies with the specification given in the
consideration of such representations (refundable in the event          Programme Regulations, or to continue the examination
that an error is found). Any representation must be made                without the use of a calculator. If students use electronic
within one month of the publication of the decision of the              calculators in examinations they must indicate on their
Board of Examiners to which it relates and should be                    examination scripts the name and type of machine used.
addressed to the Corporate Performance and Quality                      Calculators will not be provided by the University.
directorate and be accompanied by payment of the
administration fee. Representations must state the grounds on           Examination offences
which the appeal is made and provide evidence to support it.
Further information on the procedure may be obtained from               10.8       It is an examination offence for a student to take
the Corporate Performance and Quality directorate.                      into, or use in, the examination room any unauthorised
                                                                   31
materials, aids, instruments or equipment which may be used              other similar work and to prevent them from being copied by
to their advantage. A student must not take into the                     other students.
examination room, or consult during the examination, any
books, notes, instruments or other materials or aids that are            10.17      The examination offences listed above will be
not permitted. This includes the use of unauthorised                     treated as cheating or irregularities of a similar character
programmable calculators or the use of permitted materials               under the provisions of the Procedures for the Consideration
that have been personally annotated such as statutes. All such           of Allegations of Examination Offence of the University‟s
materials or aids must be deposited with the Invigilator before          Regulations (Regulation 1 Annex 6 and, as appropriate,
the examination starts. A student who takes any unauthorised             Annex 7). Under these Regulations, students found to have
materials, aids, instruments or equipment into the examination           committed an offence may have the results of their
room must surrender them to the Invigilator on request.                  examinations withheld and may be excluded from all future
Failure to comply with a reasonable request from an                      examinations of the University.
Invigilator constitutes an examination offence.
                                                                         Other matters

10.9       A student must not pass any information between               10.17 The University reserves the right to require students
themselves and another student during an examination of a                sitting an examination for a written paper to remain within the
written paper. This includes written, verbal and gestural                examination hall or its precincts for the duration of the
communication. A student may not act in collusion with                   relevant paper.
another student or any other person, nor copy from another
student, their books, notes, instruments, computer files, other          10.18 All examination scripts are the property of the
materials or aids, nor engage in any similar activity. Any of            University and will not be returned to students. Answers to
these activities constitutes an examination offence.                     assignments, essays, course projects and other similar work
                                                                         written in the student‟s own time will only be returned to the
10.10     It is an examination offence to remove stationary or           student as described in the relevant Programme Regulations.
other materials from the examination hall that have been                 Final reports on research projects or dissertations will not be
supplied by the University or examination centre for                     returned to students, unless indicated otherwise in the
examination purposes.                                                    Programme Regulations.

10.11     Plagiarism is the copying and use of someone else‟s            10.19 All question papers will be retained by the University.
work, whether intentionally or unintentionally, as if it were
the student‟s own. Another person‟s work includes any
                                                                         11.    Fees
source that is published or unpublished including words,
images, diagrams, formulae, audio recordings, computer code,
ideas and judgements, discoveries and results. Plagiarism is an          11.1 Students are required to pay the fees that are due in
examination offence.                                                     any particular year in full at the time when they fall due. Fees
                                                                         must be paid in accordance with the University‟s procedures
10.12    All work submitted as part of the requirements for              and deadlines given in the prospectus and Student
any examination must therefore be expressed in the student‟s             handbook/manual or equivalent publication (as applicable).
own words and incorporate their own ideas and judgements.
                                                                         11.2 The University reserves the right to amend previously
10.13      Direct quotations from the published or unpublished           announced fees. The University also reserves the right to
work of another person must always be clearly identified as              make additional charges (see paragraph 8 of the Programme
such and a full reference to the source must be provided in the          Regulations).
proper form. A series of short quotations from several
different sources, if not clearly identified as such, constitutes        11.3 Students who are permitted to proceed from a
plagiarism in the same way as an unacknowledged quotation                certificate or diploma to a related diploma or degree (see
from a single source. Equally, if another person‟s ideas or              paragraph 4) will be required to pay the fees indicated in
judgements are summarised, the student must refer to that                paragraph 8 of the Programme Regulations.
person in the text and give details of the work to which
reference is made.                                                       11.4 Students who are permitted to proceed from a short
                                                                         course to a certificate, diploma or degree (see paragraph 3)
10.14     It is an examination offence to submit work which              will be required to pay the registration fee for the relevant
has been written jointly by two or more persons, unless                  programme of study and the fee for the remaining subjects,
expressly permitted in the Programme Regulations.                        unless indicated otherwise in the Programme Regulations.

10.15     Assignments, essays, projects, reports, dissertations          11.5 Students who are permitted to transfer their
and other similar work must therefore be the student‟s own               registration to another programme of study (see paragraph 6)
work and must be written without the assistance of other                 shall be required to pay the relevant fees, for the programme
people, except where expressly permitted in the Programme                concerned, in order to do so. Any additional fee payable shall
Regulations. A student will be required to submit a signed               be at the discretion of the University. Any refund of fees
declaration for all such work submitted, stating that they               already paid will be subject to the conditions in paragraphs
understand what is meant by plagiarism, and confirming that              11.8 and 11.9.
the work submitted is entirely their own and that the use of
published or unpublished works of other people has been                  11.6 Students who cancel their registration for one
acknowledged in accordance with the University‟s                         programme of study and register afresh for another
requirements.                                                            programme of study (see paragraphs 6.4 and 6.9) will be
                                                                         required to pay the relevant fees, for the programme
10.16      It is the responsibility of the student to safeguard          concerned, in order to do so. Any refund of fees already paid
their assignments, essays, projects, reports, dissertations and          will be subject to the conditions in paragraphs 11.8 and 11.9

                                                                    32
                                                                          post) that is received by the University within 7 working days
11.7 Students who are permitted to renew their registration               of the original request for the service.
at the expiry of the initial period of registration (see paragraph
6) will, as applicable, be required to pay a further full                 11.9      After the 7 working day period described in 11.8,
registration fee. Students who are permitted to renew their               application handling fees and examination entry fees are not
registration for a programme of study which is being phased               refundable. Examination entry fees cannot be transferred from
out will be required to pay a proportion of the full registration         one examination to another.
fee (as applicable), the amount depending on the number of
years remaining before the last examination for the                       11.10      After the 7 working day period described in 11.8,
programme concerned. In addition to the registration fee, all             registration and continuing registration fees are not refundable
students will be required to pay the appropriate subject fees,            except in the most exceptional circumstances. In these cases,
under the Regulations in force at that time.                              a proportion of the registration and any continuing registration
                                                                          fees which have been paid may be refunded at the discretion
Refunds                                                                   of the University, provided that:
                                                                                    the application is made within two years of the
11.8       Students can request a cancellation of any service                       effective date of registration
and a full refund of the corresponding fees paid to the
                                                                                    the student has not already entered an examination
University by sending a request in writing (by email, fax or
                                                                                    any required medical or other evidence is submitted.




                                                                     33
                      Programme Regulations for Short Courses

These Programme Regulations apply to the short course programme that is related to the MSc degrees in Finance
 (Economic Policy), Finance (Financial Sector Management), Finance (Quantitative Finance), Public Policy and
Management, Postgraduate Diplomas in Economic Policy, Financial Sector Management, Quantitative Finance,
 Policy Studies, Public Financial Management, Public Management, MSc degrees and Postgraduate Diplomas in
 Finance and Financial Law, International Management (China) and MBA degree and Postgraduate Diploma in
                                                   Banking

1.       Introduction                                                   C358      Modelling Firms and Markets
                                                                        C359      Financial Econometrics
1.1    The University offers individual courses of the MSc
degrees, MBA degree and Postgraduate diplomas as credit                 2.2    All courses accommodate no less than 120 notional study
bearing short courses.                                                  hours.

1.2     The rules governing this short course programme are             2.3    Students may take a maximum of three short courses
given in both these Programme Regulations and the General               from this programme.
Regulations for Short Courses that follow.
                                                                        2.4     Not all courses will necessarily be available in every year
                                                                        or offered at any particular time during the year.

2.     Short course programme of study                                  Period of registration
2.1    The following are offered as credit bearing short courses        2.5     All students registering for a short course will be
under this short course programme:                                      registered for a maximum period of two years. The minimum
                                                                        period of registration for students who choose to be assessed in a
C300     Public Policy and Management: Perspectives and                 short course on this programme is one year.
         Issues
C301     Public Financial Management: Planning and                      2.6     Further information on the period of registration is given
         Performance                                                    in paragraph 4 of the Short Course General Regulations.
C302     Human Resource Management and Development
C303     Management Information and Information Systems
C304     Decentralisation and Local Governance
C305     Public Financial Management: Revenue
C306     Managing Organisational Change                                 3.     Progression to the related awards
C307     Project Appraisal and Impact Analysis
C310     Public Financial Management: Reporting and Audit               3.1    Students who successfully complete the assessment for
C311     Privatisation and Public–Private Partnerships                  one or more of the short courses in this short course programme
C312     Public Policy and Strategy                                     may be considered for progression to the related MSc degree,
C313     The International Monetary Fund and Economic Policy            MBA degree or Postgraduate Diploma.
C319     Quantitative Methods for Financial Management
C321     Corporate Finance                                              3.2    Students who are permitted to progress may be credited
C322     Bank Financial Management                                      with any short courses successfully completed.
C323     Risk Management: Principles and Applications
C325     Macroeconomics Policy and Financial Markets                    3.3    Further rules governing progression to the degree or
C326     Banking and Capital Markets                                    diploma are given in paragraph 3 of the Short Course General
C329     International Finance                                          Regulations.
C330     Econometric Principles and Data Analysis
C332     Econometric Analysis and Applications
C333     Derivatives
C338     Introduction to Law and to Finance                             4.     Entrance requirements
C339     Legal Aspects of Corporate Finance
C340     Financial Law                                                  4.1    In order to be considered for registration for the short
C341     Legal Aspects of International Finance                         courses in Finance (Economic Policy), Finance (Financial
C342     Finance in the Global Market                                   Sector Management), Finance (Quantitative Finance) or
C343     Regulation of International Capital Markets                    Finance and Financial Law, an applicant must satisfy the
C344     Corporate Governance                                           entrance requirements given in paragraphs 4.2, 4.7 and 4.8.
C345     Law and Regulation of Electronic Finance and Internet
         Banking                                                        4.2    An applicant must have:
C347     Cross-Cultural Management                                      either
C348     International Management                                       (a)    a Bachelor‟s degree in finance, economics, or other
C349     Management in China: Domestic Development                             appropriate discipline, from a UK university or other
C350     Management in China: International Perspectives                       institution acceptable to the University, or an equivalent
C351     Topics in the Chinese Economy                                         international qualification (qualifications in other subjects
C352     International Human Resource Management                               will be assessed on their merits)
C353     Research Methods                                               or
C356     Bank Regulation and Resolution of Banking Crises
C357     Microeconomic Principles and Policy
                                                                   34
(b)      previous education and experience without a UK
         Bachelor‟s degree or international equivalent, which               5.2     Each short course will be assessed by a mixture of unseen
         satisfies the University as a qualification on the same            written paper and coursework. See paragraphs 6.1, 6.2 and 6.7–
         level as a UK Bachelor‟s degree approved under (a) for             6.11 of the Programme Regulations for the awards for further
         this purpose, and which has included suitable preliminary          information on individual courses.
         training.
                                                                            5.3    Examinations by written paper, wherever held, will take
4.3    In order to be considered for registration for the short             place on one occasion each year, normally in September or
courses in Banking, an applicant must satisfy the entrance                  October.
requirements given in paragraph 4.4, 4.7 and 4.8.
                                                                            5.4     A student who fails to satisfy the Examiners in an
4.4        An applicant must have:                                          examination at the first attempt will be permitted to make one
either                                                                      further attempt at that examination. The maximum number of
(a)        a recognised professional qualification (accounting,             attempts permitted at any examination is two (Short Course
           banking, CFA, or related professional qualifications)            General Regulations, paragraph 6.1), provided the student‟s
or                                                                          registration has not expired.
(b)        a Bachelor‟s degree in economics, business
           administration, accounting or related discipline, from a         5.5      Notwithstanding the provisions of paragraph 8.10–8.14
           UK university or other institution acceptable to the             of the Short Course General Regulations, any coursework which
           University, or an equivalent international qualification.        forms part of the formal assessment of a unit and is deemed by
                                                                            the University to be plagiarised will be given a mark of 0 (zero)
And three years relevant work experience.                                   and the student will be formally reprimanded. Repeated offences
                                                                            of plagiarism will attract greater penalties: the University may
4.5    In order to be considered for registration for the short             determine that there should be no mark for any of the units taken
courses in Public Policy and Management or International                    in the year concerned; or that the student be excluded from any
Management (China) an applicant must satisfy the entrance                   or all future examinations of the University.
requirements given in paragraph 4.6–4.8.

4.6    An applicant must have:                                              Marks
either
(a)    a Bachelor‟s degree in a social science discipline, or other         5.6    The pass mark for a short course is 50%.
       appropriate discipline, from a UK university or other
       institution acceptable to the University, or an equivalent           5.7     Information on assessment criteria and how a mark
       international qualification (qualifications in other subjects        achieved for a credit bearing short course might contribute to a
       will be assessed on their merits)                                    related award, for students who progress to such an award, are
or                                                                          given in Schedules C and D of the Programme Regulations for
(b)    previous education and experience without a UK                       the awards.
       Bachelor‟s degree or international equivalent, which
       satisfies the University as a qualification on the same
       level as a UK Bachelor‟s degree approved under (a) for
                                                                            Examinations
       this purpose, and which has included suitable preliminary
       training.
                                                                            5.8    Details of the requirements for the conduct of
                                                                            examinations are given in paragraph 8 of the Short Course
All students
                                                                            General Regulations.
4.7     For all applicants a high level of English language ability
                                                                            5.9     Students may use their own electronic calculators in the
in reading, writing and study skills is required. This is equivalent
                                                                            examinations provided that the calculator complies with the
to a score of 7.0 overall in the IELTS test, or 7 in both reading
                                                                            specification given in paragraph 8 of the Short Course General
and writing. For the TOEFL paper-based test, students will need
                                                                            Regulations.
a score of 600+, with at least 5.0 in the Test of Written English;
for the TOEFL computer-based test, students will need a score of
                                                                            5.10 In addition to the specification regarding calculators
250+, with at least 5.0+ in the Test of Written English; and in the
                                                                            given in paragraph 8 of the Short Course General Regulations,
TOEFL internet-based test, students will need a score of 100+,
                                                                            the use of calculators that can multiply to the powers of beyond 2
with 25+ in the Writing section. Applicants will be asked to
                                                                            and roots other than square roots may be used in the
provide evidence of language ability as tested by the British
                                                                            examinations
Council, GMAT or another registered body.

4.8     All students are required to have access to the internet in
order to participate fully in the learning process.
                                                                            6.        Fees

5.       Assessment                                                         6.1    The fees payable to the University are as follows:

                                                                                   Fee per short course                   £1,160
5.1     Students may choose whether or not to be formally
assessed in the credit bearing short course for which they are
                                                                            6.2     Students are required to submit fees in accordance with
registered. Students who choose to be formally assessed will be
                                                                            the procedures and deadlines given in the relevant prospectus or
examined to the same standard as that required by students
                                                                            on the CeFiMS website. The University reserves the right to
registered for the related degree or diploma (see paragraph 3.1).
                                                                            withhold course materials and the results of written assignments
Paragraphs 5.2–5.10 apply to all students who wish to be
                                                                            and examinations from students whose fees have not been paid.
assessed.
                                                                       35
6.3    The fee above refers to the registration period 1
November 2010 to 31 October 2011 only and are subject to
annual review.

6.4     A fee is normally levied by all examination centres (other
than London). This fee is payable by students who choose to be
assessed each time they make an examination entry. The
University cannot be responsible for this fee nor can it influence
the level of fee charged.

Refunds

6.5      Students will be refunded any fees paid to the University
if the refund request is made within a week of the initial fee
payment. Otherwise, the information in point 6.6 applies.

6.6     Course fee payments will not be refunded except as
permitted in paragraph 9 of the General Regulations provided
that the student has not already entered for any paper at Level 7.
No other fees are refundable.




                                                                     36
                                      Schedule A / Course outlines


       C300 Public Policy and Management:                               Unit 3   Performance
                Perspectives and Issues                                 Unit 4   Development
                                                                        Unit 5   Employee Relations
We live in an era of frequent and sometimes radical change in
                                                                        Unit 6   Pay
what governments do and how they are organised to do it.
                                                                        Unit 7   Cross-functional issues
Sometimes the changes are generated within countries as
                                                                        Unit 8   Human Resource Strategy and Managemen
responses to social, political and economic developments and
sometimes they originate outside the country. The purpose of
this course is to provide an analytical framework for
understanding public policy and management in a variety of                      C303 Management Information and
historical and comparative contexts. It provides the means for                            Information Systems
students to make their own judgements about appropriate                 The introduction of new information systems, including
ways to make public policy and organise and deliver public              computerised information systems, is essential in improving
services                                                                the performance of public sector organisations (PSOs). Yet,
Unit 1 The State, Public Policy and Management                          too often, the potential of information systems is never
Unit 2 Understanding the State                                          realised, and PSOs are littered with failed computerised
Unit 3 Ideal Types                                                      information systems. These failures create a massive waste of
Unit 4 Policy Analysis and Evaluation                                   public finance and of public servants' time and effort. They
Unit 5 Policy and Management Dilemmas I                                 also reduce the quality of service provided by the public
Unit 6 Policy and Management Dilemmas 2                                 sector; in extreme cases threatening even the livelihoods and
Unit 7 Policy Transfer                                                  lives of those who depend on public services. Overall, this
Unit 8 The Future of the State?                                         course therefore seeks to address three issues: (1) the great
                                                                        potential of information systems in the public sector, (2) the
                                                                        reasons behind the widespread failure to achieve that
                                                                        potential, and (3) the possibilities of, and constraints on,
 C301 Public Financial Management: Planning                             closing this gap between potential and actuality.
                     and Performance                                    Unit 1 An Introduction to Information Systems in Public
                                                                        Sector Organisations
As government organisations come under external and
                                                                        Unit 2 Information in Organisations
internal pressure to demonstrate increased efficiency in their
                                                                        Unit 3 Information and Communication Technologies in the
activities, a working knowledge of the methods and practices
                                                                        Knowledge Era
of public financial management (PFM) has become an
                                                                        Unit 4 People, Management, Organisations, Environments
essential part of the public manager‟s tool-kit. This course is
                                                                        and Information Systems
concerned with the planning and management of public
                                                                        Unit 5 Types of Information Systems
expenditure and accountability for the use of public money.
                                                                        Unit 6 Managing Information Systems and Data
The course also examines cost management, budgeting,
                                                                        Unit 7 Information Systems Development
expenditure control techniques, accounting for public
                                                                        Unit 8 E-Government Strategy
spending and performance budgeting
Unit 1 The Context of Financial Management
Unit 2 Budget Classification and Structure
Unit 3 Costs
Unit 4 Accounting and Budgeting: National Level                          C304 Decentralisation and Local Governance
Unit 5 Accounting and Budgeting: Sub-national Level                     This course asks why decentralisation is considered a good
Unit 6 The Management and Control of Budgets                            thing, and assesses a range of experiences of decentralisation
Unit 7 Budgeting and Democracy                                          in different kinds of countries and different parts of the world,
Unit 8 Financial Management and Performance                             to highlight issues and options in the design, implementation
                                                                        and management of decentralisation at various levels of
                                                                        government: from federal nation states to rural districts and
                                                                        even villages. The course's approach is that governance is a
    C302 Human Resource Management and                                  political process as much as a technical one.
                                                                        Unit 1 Decentralisation: What and Why?
                       Development                                      Unit 2 Fiscal Decentralisation
This course is concerned with the management of people in               Unit 3 Cases in Fiscal Decentralisation
public organisations. The staff of an organisation are its              Unit 4 Administrative Decentralisation
principal resource, and therefore good practice in the                  Unit 5 Decentralisation and Participation
management and development of human resources makes an                  Unit 6 Assessing Decentralisation in Practice
important contribution to the effectiveness of the organisation.        Unit 7 Local Economic Development
There are many different approaches and managers need to                Unit 8 Decentralisation and Poverty
understand which approach is likely to work best in specific
circumstances. While covering all the main aspects of HRM
this course is designed to enable you to evaluate and choose
between approaches. It would be beneficial to take Public                C305 Public Financial Management: Revenue
Policy and Management: Perspectives and Issues [C300]                   This course addresses the theory and practice of public
before this course and Managing Organisational Change                   finance with special reference to how governments raise
[C306] is best taken after it.                                          revenues. It is concerned with taxation, borrowing and aid.
Unit 1 Human Resource Management: Introduction                          There are economic principles that bear on the issues of
Unit 2 Resourcing                                                       financing public expenditure and these are covered in the
                                                                   37
course. The course includes an Appendix that covers the                public services in use around the world. This course has been
relevant microeconomics concepts that underlie taxation                developed in association with the Association of Chartered
theory.                                                                Certified Accountants (ACCA).
At the same time the course recognises that decisions on               Unit 1 Introduction to Public Sector Accounting
taxation, borrowing and aid are not taken solely with                  Unit 2 Accounting Bases and Standards
reference to economics but also to politics.                           Unit 3 International Public Sector Accounting Standards
Unit 1 Tax Issues in Context                                           Board (IPSASB) and the Cash Basis Standards
Unit 2 Tax Incidence and Optimal Taxation                              Unit 4 International Accrual-Based Accounting Standards
Unit 3 Policy Objectives and Taxation                                  for the Public Sector
Unit 4 Tax Policy Issues in Developing and Transition                  Unit 5 Developing Public Sector Accounting Standards
           Countries (I)                                               Unit 6 Public Financial Management Benchmarks and
Unit 5 Tax Policy Issues in Developing and Transition                  Review
           Countries (II)                                              Unit 7 Public Sector Audit – Standards and Guidance
Unit 6 Local Revenues in Developing and Transition                     Unit 8 Public Sector Audit - Practise
           Countries
Unit 7 Deficits and Debts
Unit 8 Foreign Aid and Debt Relief                                           C311 Privatisation and Public-Private
                                                                                                Partnerships
                                                                       After a wave of privatisations in western and eastern Europe,
      C306 Managing Organisational Change
                                                                       with a later series of privatisations in Africa and Asia,
The public sector is going through substantial change. We
                                                                       governments are now faced with decisions about what to do
first saw a desire to scale down the scale and scope of the
                                                                       with remaining state owned enterprises and public services.
public sector, with an emphasis on privatisation and
                                                                       Options include privatisation by trade sale or public offering,
“downsizing”. While these processes continue around the
                                                                       contracting out, use of voluntary agencies, public private
world, more recently we also see a desire to improve the
                                                                       partnerships to finance public service infrastructure and
capabilities of the public sector, often described in terms of
                                                                       innovative forms of ownership. This course is designed to
capacity building, or institutional or sectoral development.
                                                                       help people making and advising on these decisions.
This in turn leads to significant changes to, and within,
                                                                       The course is based on theory and practical application
individual public sector organisations. At the same time, new
                                                                       through case studies of privatisation and other alternatives
managerial processes associated, for example, with human
                                                                       throughout the world, ranging from examples of obvious
resource management or management information systems
                                                                       failure such as the railways in the United Kingdom to
have been introduced. This course is about how managers
                                                                       apparent successes such as Kenya Airways. The emphasis of
understand and implement organisational change, thereby
                                                                       the course is on critical analysis of the alternatives.
helping them to fulfil their responsibilities.
                                                                       Unit 1 Introduction to Privatisation in the OECD Countries
Unit 1 Organisations and Environments
                                                                       Unit 2 Scale and Methods of Privatisation in Africa, Latin
Unit 2 Organisational Change
                                                                       America and Asia
Unit 3 Organisational Structure and Change
                                                                       Unit 3 Impact of Privatisation
Unit 4 Organisational Culture and Change
                                                                       Unit 4 Case Studies in Privatisation
Unit 5 Power, Politics and Change
                                                                       Unit 5 Outsourcing, Contracting and Competition
Unit 6 Leadership and Organisational Change
                                                                       Unit 6 Case Studies in Procurement
Unit 7 Learning and Organisational Change
                                                                       Unit 7 Public-Private Partnerships: Principles
Unit 8 Strategies for Change
                                                                       Unit 8 P-PP: Cases and Conclusions


  C307 Project Appraisal and Impact Analysis
                                                                                 C312 Public Policy and Strategy
The purpose of this course is to give a theoretical and applied
                                                                       This is a course about the policy process in governments and
background to investment finance, the project cycle from
                                                                       public agencies. It is designed to develop the skills and
project identification to project and programme appraisal
                                                                       understanding of people who are engaged in the processes of
techniques, including financial and economic analysis, impact
                                                                       policy-making, implementation and evaluation, whether as
assessment and risk analysis.
                                                                       professionals, politicians, advisors or citizens. The central
Unit 1 Project Appraisal and Evaluation, an Introduction
                                                                       concept is a rational approach to policy making and the
Unit 2 Investment Appraisal Techniques
                                                                       institutional and political and social variables that detract from
Unit 3 Social Cost-Benefit Analysis
                                                                       such an approach.
Unit 4 Valuation Techniques, Applications in various
                                                                       Unit 1 The Policy Analysis Model and Alternatives
sectors and case studies
                                                                       Unit 2 Stakeholders, Data Collection and Analysis
Unit 5 Risk and Uncertainty Analysis in Project Appraisal
                                                                       Unit 3 Implementation: Policy Instruments and Service
Unit 6 Distributional Issues and Social Cost-Benefit
                                                                       Provision
Analysis
                                                                       Unit 4 Allocating Resources and Assigning Responsibilities
Unit 7 Environmental and Social Impact Assessment
                                                                       Unit 5 Performance Management and Monitoring
(ESIA)
                                                                       Unit 6 Policy Evaluation
Unit 8 Impact Assessment: Additional Tools and
                                                                       Unit 7 Strategic Planning and Policy Making
Techniques
                                                                       Unit 8 Policy Networks and Policy Transfer – Policy in a
                                                                       Globalised World
       C310 Public Financial Management:
                   Reporting and Audit                                   C313 The International Monetary Fund and
Studying this course will enable students to read public                                  Economic Policy
accounts, contribute to their production and understand the
                                                                       Few countries have complete autonomy in macroeconomic
audit process. It covers the main accounting standards for
                                                                       policy. For many, policy is conducted in collaboration with
                                                                  38
the International Monetary Fund (IMF) or supervised by the                        C322 Bank Financial Management
IMF. The course examines the changing roles of the IMF, the              This course concentrates on the principles of bank
nature of economic policies it encourages countries to pursue,           management of assets and liabilities. It teaches the principles
and some of the effects these policies have on the economic              of bank balance sheet management and money market
environment of business, on the financial sector, and on social          operations, liquidity ratios, and capital adequacy ratios. The
conditions. The course gives a simple introduction to the basic          course also covers issues of bank supervision and regulation.
IMF economic policy framework, „financial programming‟.                  It examines the role and importance of bank financial
Using different types of countries, including transition                 management to the modern bank, and teaches the basic
economies and developing countries as case studies, it enables           models of financial management taught by University
students to study issues such as the role of capital controls and        Economics Departments and Business Schools, which were
the problems of highly indebted countries.                               constructed from the experience of mature capitalist
Unit 1 Macroeconomic Stabilisation and the Role of the                   economies. The course also discusses the various trends
IMF                                                                      shaping banking markets, such as institutionalisation,
Unit 2 The IMF‟s Approach to Stabilisation                               securitisation, globalisation and concentration.
Unit 3 Alternative Approaches to Stabilisation                           Unit 1 Banking Innovations and Risk
Unit 4 Stabilisation and the Financial Sector                            Unit 2 Bank Accounts: A Useful Tool if Handled with Care
Unit 5 Stabilisation Policy and the Financial Sector:                    Unit 3 Bank Valuation
Institutional Responses to Recent Crises                                 Unit 4 Bank Risk Management: Liquidity Management
Unit 6 Stabilisation and the Financial Sector: Some                      Unit 5 Bank Risk Management: Interest Rate Risk
Challenges and Controversies                                             Management
Unit 7 Stabilisation and Low-income Countries                            Unit 6 Cost of Funds and the Funding of Operations
Unit 8 Challenges for Low-income Countries                               Unit 7 Bank Risk Management: Credit Risk
                                                                         Unit 8 Capital Management

    C319 Quantitative Methods for Financial
                        Management                                            C323 Risk Management: Principles and
This course teaches the mathematical and statistical tools used                                   Applications
in the analysis of financial instruments and financial markets,          Risk Management: Principles & Applications examines the
including the calculation of financial market yields and prices;         techniques and the foundation of risk management in
frequency distributions; probability, data analysis; correlation         corporations. It covers the use of derivatives, portfolio
and regression. EViews Econometric software is provided to               allocation, the value of risk, and the management of credit risk
students.                                                                and operations risk. This course has four main aims: to
Unit 1 Financial Arithmetic and Valuation of Bonds and                   illustrate the main types of risk; to present the most important
Stocks                                                                   ideas and methods used in the analysis of portfolios of
Unit 2 Statistical Concepts and Probability Theory                       financial securities, (including stocks and bonds); to explain
Unit 3 Statistical Inference                                             how rational investors can use financial derivatives (mainly
Unit 4 The Classical Linear Regression Model                             futures and options) in order to alter the risk of their
Unit 5 Statistical Inference in the Classical Linear                     investment position; and to illustrate some more specialised
Regression Model                                                         risk management techniques (such as Value at Risk and Credit
Unit 6 The Multiple Linear Regression Model                              Risk).
Unit 7 Topics in the Multiple Linear Regression Model                    Unit 1 Introduction to Risk Management
Unit 8 Risk Measurement and Investment Decisions                         Unit 2 Portfolio Analysis
                                                                         Unit 3 Management of Bond Portfolios
                                                                         Unit 4 Futures Markets
                C321 Corporate Finance                                   Unit 5 Options Markets
This course enables students to relate principles and practice           Unit 6 Risk Management with Options
to the financing decisions of enterprises in modern economies.           Unit 7 Value at Risk
It analyses the decisions firms make about financing their               Unit 8 Credit Risk
investments in productive capital. It aims to enable students
to understand and analyse the theoretical principles relating to
corporate finance, and the controversies and criticisms which               C325 Macroeconomic Policy and Financial
surround these theoretical propositions. The course focuses on                                        Markets
the relation between corporations‟ decisions on investing in
                                                                         This course focuses on the relationship between
productive (physical) assets and issuing financial liabilities,
                                                                         macroeconomic policies and financial markets. It examines
and the markets in the financial liabilities (equities and debt)
                                                                         questions such as: how do central banks‟ policies on interest
which they issue.
                                                                         rates and credit relate to financial markets? What is the
Unit 1 Perspectives on corporate finance
                                                                         relation between budget deficits and financial markets? How
Unit 2 Net Present Value and capital budgeting decisions
                                                                         do financial markets relate to investment and savings flows?
Unit 3 Risk, capital market equilibrium and capital
                                                                         The course includes both theory and empirical material.
budgeting decisions
                                                                         Unit 1 Macroeconomics and the World of Finance
Unit 4 Efficiency of capital markets and implications for
                                                                         Unit 2 Savings and Finance
corporate financing decisions
                                                                         Unit 3 Investment and Financial Markets
Unit 5 Dividend policy
                                                                         Unit 4 Monetary Policy and the Central Bank
Unit 6 Capital structure 1
                                                                         Unit 5 Fiscal Policy and Government Finances
Unit 7 Capital Structure II: Information Asymmetries and
                                                                         Unit 6 Expectations, Inflation and Interest Rates
Agency Costs
                                                                         Unit 7 Foreign Exchange Markets and Foreign Trade
Unit 8 Mergers
                                                                         Unit 8 International Capital Flows and Financial Markets


                                                                    39
        C326 Banking and Capital Markets                               provide a study guide through the ideas and issues central to
This course analyses the environment of international                  each topic, as well as guiding through associated readings.
management. It looks at global financial markets, including            EViews Econometric software is provided to students.
forex, bond and derivative markets, international financial            Unit 1 Dummy Variables
instruments, international banjking and the final and legal            Unit 2 Dynamic Models: Lags and Expectations
aspects of regulation.                                                 Unit 3 Simultaneous Equation Models
Unit 1 Bank-Based vs Market-Based Financial Systems                    Unit 4 The Identification Problem
Unit 2 Why do Banks Exist?                                             Unit 5 Simultaneous Equation Models: Estimation
Unit 3 Why Banks Exist: Explanations Based on their                    Unit 6 Univariate Time Series: Stationarity and
Lending                                                                Nonstationarity
Unit 4 Banks vs Capital Markets                                        Unit 7 Multivariate Time Series Analysis
Unit 5 Credit Rationing and Overlending                                Unit 8 Forecasting
Unit 6 Bank Runs and Regulatory Responses
Unit 7 Financial Crisis
Unit 8 Portfolio Analysis                                                                   C333 Derivatives
                                                                       The expansion of financial markets since 1973 has been
                                                                       founded on the growth of derivatives, both over the counter
             C329 International Finance                                derivative contracts and exchange traded contracts. It was
This course concentrates on external finance and foreign               made possible by the development of models for valuing
exchange and relates these to macroeconomic behaviour. The             derivatives based upon the mathematics of stochastic calculus.
course introduces the major institutions of international              In this course you learn the application of those principles to
finance, examines empirical data on the financial flows of the         the valuation of derivatives.
world economy and provides the basic principles for                    Unit 1 Derivatives contracts
analysing them.                                                        Unit 2 Properties of stock options
Unit 1 Evolution of the International Financial System                 Unit 3 The behaviour of the stock price and the Black-
Unit 2 Foreign Exchange Markets                                        Scholes model
Unit 3 The Balance of Payments                                         Unit 4 Greek letters and trading strategies
Unit 4 Balance of Payments: The Mundell-Fleming                        Unit 5 Interest rate models
Approach                                                               Unit 6 Credit derivatives and credit risk
Unit 5 Balance of Payments: The Monetary Approach                      Unit 7 Some exotic options
Unit 6 Fixed and Flexible Exchange Rate Systems                        Unit 8 Further numerical procedures
Unit 7 Currency Blocs, Financial Integration and
International Co-ordination
Unit 8 Foreign Exchange Problems and Policies of                           C338 Introduction to Law and to Finance
Developing Countries                                                   This course provides sufficient knowledge of the main ideas
                                                                       and methods used in law and finance for students (whose
                                                                       academic background is very likely to lie either in Law or in
      C330 Econometric Principles and Data                             Finance but not in both), to proceed with both the Law-based
                          Analysis                                     and the Finance-based courses making up the remainder of the
This course introduces students to the major method                    MSc degree. In Finance, the course aims to present the main
underpinning econometric work at an introductory level,                ideas and methods in mathematics that are used in financial
linear regression. The course requires students to work with           analysis. The emphasis throughout is on the applications of
data, using EViews Econometric software, and guides them               the mathematical concepts to finance. In Law, the course
though linear regression as a tool to enable students to use           provides the foundations of legal knowledge necessary for
data to make empirical estimates of economic relationships. It         those students with no knowledge of law as well as an
also introduces students to the process of framing and testing         introduction to the common law for those students with a
a hypothesis, a process which gives econometric work its               civilian law qualification. The emphasis is on the fundamental
rigour.                                                                commercial subjects.
This course is extended by Econometric Analysis and                    Unit 1 Introduction to Law
Applications [C332] which teaches more advanced techniques             Unit 2 Sources of Law and How to Use Them
in quantitative methods.                                               Unit 3 Introduction to Contract Law
Unit 1 Introduction                                                    Unit 4 Introduction to Property Law
Unit 2 The Classical Linear Regression Model                           Unit 5 Introduction to Tort Law
Unit 3 Hypothesis Testing                                              Unit 6 Returns and Time – the Price of Time
Unit 4 The Multiple Regression Model                                   Unit 7 Returns and Risk
Unit 5 Heteroscedasticity                                              Unit 8 Interpreting Financial Sector Data
Unit 6 Autocorrelation
Unit 7 Nonnormal Disturbances
Unit 8 Model Selection and Course Summary                                 C339 Legal Aspects of Corporate Finance
                                                                       A good legal framework for corporate finance can be seen as
                                                                       part of a virtuous circle that helps to promote a strong
 C332 Econometric Analysis and Applications                            securities market, which in turn provides the cheapest finance
This course looks at errors and disturbances within regression         for the companies that are seeking it. This course examines
analysis and increases students understanding of regression            the legal components of the necessary institutional framework
methods by looking at simultaneous equation models. It                 for vibrant corporate finance in the light of English law. It
examines features which make models more dynamic,                      provides an understanding of the essential elements of the
including building in lags and expectations, short and long run        legal principles and institutions governing corporate finance at
effects. The course builds towards multivariate time series            the national and international level. The course complements
analysis, concluding with forecasting. The course units                Corporate Finance [C321], and together they provide a
                                                                  40
comprehensive and coherent appreciation of the financial and            international financial system and how to overcome its
legal aspects of the subject. The teaching is based on English          passive impact on business operation.
law, with reference to the law of other jurisdictions where             Unit 1 The International Context of Finance
relevant.                                                               Unit 2 The Markets for Foreign Exchange
Unit 1 Incorporation and the Corporate Constitution                     Unit 3 Exchange Rates and Prices
Unit 2 Financial Structure and Membership                               Unit 4 Exchange Rates and Interest Rates
Unit 3 The Taxation of Companies                                        Unit 5 Managing Foreign Exchange Exposure
Unit 4 Corporate Governance                                             Unit 6 International Corporate Finance and Project Finance
Unit 5 Public Disclosure of Information                                 Unit 7 Capital Structure and Cost of Capital in International
Unit 6 Raising Capital from the Public                                  Finance
Unit 7 Regulation of Takeovers and Mergers                              Unit 8 Corporate Finance and Currency Crises
Unit 8 Corporate Collapse


                    C340 Financial Law
                                                                            C343 Regulation of International Capital
This course examines the legal aspects of finance. It outlines
the basic legal principles and institutional preconditions of                                      Markets
finance and financial markets, therefore complementing the              This course is intended to provide a grounding in the
remaining law courses, which are concerned with more                    regulatory issues relating to international capital markets and
specific topics. It focuses neither on borrowers and lenders            several important domestic and regional capital markets, such
nor does it exclusively examine the instruments, contracts and          as US markets, the UK market, the Japanese market and the
transactions by which finance is supplied. It nevertheless              EU dimension.
focuses on the broader picture; and examines finance against            Unit 1 Introduction to Financial Regulation
the general institutional framework of market-based                     Unit 2 Central Banking and Banking Regulation
economies. It seeks to outline the legal institutions which are         Unit 3 Introduction to International Capital Markets
necessary for the development of financial markets and then             Unit 4 Regulation of Primary Securities Markets in the
provides a concise overview of the most basic of them. The              United States
course is based on English financial law although it may                Unit 5 Financial Integration and Regulation of Primary
occasionally adopt a comparative perspective of the laws of             Securities Markets in the European Union
other jurisdictions with key international financial centres.           Unit 6 International Regulation of Securities Firms
Unit 1 Introduction to Financial Law                                    Unit 7 International Regulation of Secondary Securities
Unit 2 The Needs of Finance and the Character of English                Markets
Financial Law                                                           Unit 8 Global Capital Markets and Development of
Unit 3 Deposits and Bank Accounts                                       International Rules
Unit 4 The Law Relating to Money and Payments
Unit 5 The Law Relating to Loans and Credit
Unit 6 The Law of Secured Finance                                                    C344 Corporate Governance
Unit 7 The Law Relating to the Control of Financial Crisis              This course analyses legal/political/economic features of
Unit 8 Questions of Liability                                           major corporate governance systems, examining how
                                                                        corporate governance systems influence the performance of
                                                                        individual firms and the allocation of capital within a country.
 C341 Legal Aspects of International Finance                            It investigates the evolution of diverse ownership and
This course provides the legal aspects to complement the                governance structures across different economies.
financial courses Banking and Capital Markets [C326] and                Unit 1 Definitions of corporations and corporate
Finance in the Global Market [C342]. The teaching is based              governance
on English law, with reference to the law of other jurisdictions        Unit 2 Theory of the firm
where relevant. The course shows how contractual principles             Unit 3 Corporate governance and the role of law and the
are applied to commercial fundraising transactions, and how             state
to differentiate between legal principles and the market                Unit 4 Corporate governance systems: equity-led, bank-led
practices that shape these transactions.                                and family-led
Unit 1 Introduction to the Law of International Finance                 Unit 5 Control and board composition
Unit 2 Legal Aspects of International Debt Securities                   Unit 6 Control and CEO compensation
Unit 3 Legal Aspects of Financial Derivatives                           Unit 7 International corporate governance
Unit 4 Eurodollar Deposits and Syndicated Loans                         Unit 8 Corporate governance guidelines and codes of best
Unit 5 Payments and Securities Settlement Systems                       practice in developed, developing and transition economies
Unit 6 Project Finance
Unit 7 Legal Issues of Sovereign Debt
Unit 8 Conflict of Laws and International Finance                            C345 Law and Regulation of Electronic
                                                                                    Finance and Internet Banking
                                                                        This course aims to introduce and discuss some of the main
         C342 Finance in the Global Market                              legal problems arising from the provision of financial
The main objective of this course is to study the economist's           services, and the creation of financial markets. It goes on to
perspective on corporate finance in a global market, which is a         introduce regulatory issues that must be considered when
practice-oriented perspective. The examination of the                   operating in the field of finance, with particular attention
institutions and practices of corporate financing in the global         given to the law of electronic finance and Internet banking, as
market and the key strategy problems that have arisen in                well as the main legal issues pertaining to online securities
recent decades are the main concern of this course. In other            trading and the impact of the Internet in capital markets. The
words, it is the perspective that an economist would use when           course concludes with an analysis of the issues that arise
advising corporations on how to work within the modern

                                                                   41
between online market participants operating under different            management, including theories of management and their
systems of law.                                                         application to China‟s domestic economic development.
Unit 1 Introduction to Electronic Finance and Internet                  Unit 1 The Pre Reform Economy
Banking                                                                 Unit 2 Economic Reforms in China
Unit 2 Basic Legal Concepts and Foundations of Electronic               Unit 3 Management Reforms
Banking and Financial Activities                                        Unit 4 State Enterprise Reforms
Unit 3 Electronic Finance and the Globalisation of                      Unit 5 The Non-State Sector
Financial Markets                                                       Unit 6 Reform and Development in China‟s Financial
Unit 4 Prudential Regulation and Supervision of Electronic              Sector
Finance and Banking                                                     Unit 7     Capital Market Development in China
Unit 5 Law of Electronic Banking in the United Kingdom                  Unit 8 Monetary and Exchange Rate Policy
Unit 6 Regulation of Securities Activities over the Internet
Unit 7 EU Law - The Financial Services Action Plan
Unit 8 Cross-Border Electronic Contracts                                   C350 Management in China: International
                                                                                               Perspectives
                                                                        This course concerns the study and analysis of contemporary
         C347 Cross Cultural Management                                 international business and management developments in
.This course discusses and analyses some of the many                    China. The course is multi-disciplinary in content, and covers
processes of strategic decision-making that exist across a              such topics as economics, international trade and business
range of international and cross-cultural management                    management, negotiation, and conflict management.
contexts. Particular attention is given to exploration of the           Unit 1 Key Perspectives and Reforms
significance of culture in strategic decisions related to               Unit 2 International Trade
processes of human resource management (HRM) and                        Unit 3 Foreign Direct Investment
marketing communications, encompassing elements of risk                 Unit 4 Economic Integration – Hong Kong and Taiwan
management, ethics, and the management of diversity, using              Unit 5 Business Networks and Investment by Overseas
case studies drawn from a range of international management             Chinese
contexts across Asia, Europe, Africa and the Americas.                  Unit 6 Investment Strategies and Joint Ventures
Unit 1 International Management and Culture                             Unit 7 Negotiating with the Chinese
Unit 2 Comparing Cultures                                               Unit 8 Managing Business Alliances in China
Unit 3 Movement in the Culture
Unit 4 Organisational Culture
Unit 5 Culture and Management Communication
                                                                               C351 Topics in the Chinese Economy
Unit 6 Needs and Incentives – An International
                                                                        This course is designed to introduce students to a wide variety
Management Perspective
Unit 7 Dispute Resolution and Negotiation                               of issues that are important for China‟s present and future
Unit 8 Global Staffing – Cross-Cultural Dimensions                      economic and social development. The choice of topics is
                                                                        intended to help throw light on the nature, rationale and
                                                                        impact of China‟s post-1978 reform strategy. Neither this
                                                                        strategy nor its underlying policies can, however, be
          C348 International Management                                 understood without reference to developments that took place
This course provides a case-study based analysis of                     during the post-1949 era under Mao Zedong. Accordingly, the
international business strategy. Significant attention is given         discussion of each topic will give consideration to the pre-
to analysis of the experiences of a wide range of firms that            1978 background of more recent developments. Upon
have competed successfully on the global stage, and some that           successful completion of this course, students should be able
have not, and to contextualising and evaluating those                   to understand the major economic developments that have
experiences. Learning about firms that have experienced                 taken place in China since the introduction of reforms in 1978,
differing degrees of success will help students to assess               the key challenges in China‟s future economic and social
strategic options in their own careers. The ultimate aim of the         trajectory, and her importance in the international and regional
course is to provide frameworks, techniques and examples to             economies.
help students participate successfully in the exciting and risky        Unit 1 China‟s Transition to a Demographic „Golden Age‟
world of international business.                                        Unit 2 The Employment Challenge
Unit 1 International Investment                                         Unit 3 The Role of Rural Sector in China‟s Growth
Unit 2 Choice of Entry Strategy                                         Economy
Unit 3 International Production and Sourcing                            Unit 4 Energy Security – Meeting China‟s Energy Needs
Unit 4 International Marketing                                          in the Twenty-First Century
Unit 5 International Organisation                                       Unit 5 The Sustainability of China‟s Growth
Unit 6 Financial Management in the International Business               Unit 6 The Impact of Economic Growth on Welfare in
Unit 7 Assessing Country Competitiveness                                China
Unit 8 Assessing Country Risk                                           Unit 7 Economic Integration across the Taiwan Straits
                                                                        Unit 8 China‟s Future Economic Trajectory

      C349 Management in China: Domestic
                       Development                                             C352 International Human Resource
This course is concerned with an analysis of the major                                         Management
domestic issues that have affected the development and                  Students will be introduced to the basic concepts of
growth of China‟s economy. This includes China‟s                        international human resource management and will survey the
development strategy, the changing role of the state and its            span of British and American human resource systems as well
enterprises, the emergence of a private sector, reforms in              as consider how far British and American concepts of HR
management practices, and financial and exchange rate policy.           apply in a Chinese context.
It also covers a wide range of issues related to the study of
                                                                   42
Unit 1 Study of International Human Resource                            Unit 7: General Equilibrium, Efficiency and Pareto Optimality
Management                                                                   Unit 8: Externalities, Public Goods and Asymmetric
Unit 2 The National Context of Human Resource                                                     Information
Management
Unit 3 The National Context of Human Resource
Management –case studies                                                        C358 Modelling Firms and Market
Unit 4 Managing HR Across the World                                     This course provides an introduction to the economics
Unit 5 Differentiation and Integration                                  of information and uncertainty. Multi-person decision
Unit 6 Knowledge Transfer within a Multi-National
Company
                                                                        problems play a crucial role in industrial economics.
Unit 7 HRM in International Joint Ventures                              This course begins with the basic concepts of game
Unit 8 Foreign Assignments – Conclusion to the Course                   theory, before examining the problems of private
                                                                        information and analysing the role of asymmetric
                                                                        information in market interactions under various
                C353 Research Methods                                   economics contexts.
The purpose of the course is to provide students with a                 Unit 1: Static Games of Complete Information
thorough understanding of the theoretical concepts,                     Unit 2: Dynamic Games of Complete Information
methodological approaches and reporting issues that underpin            Unit 3: Static Games of Incomplete Information
good quality research projects. It is a prerequisite course for         Unit 4: Dynamic Games of Incomplete Information
completing a dissertation. The course outlines the issues               Unit 5: Hidden Action (Moral Hazard)
involved in planning, designing, executing and reporting                Unit 6: Hidden Characteristics (Adverse Selection)
research. In addition it provides students with the opportunity         Unit 7: Auctions
to develop quantitative and qualitative skills, depending on the        Unit 8: General Competitive Equilibrium
dissertation topic and research interests.
Unit 1 The Nature of Research
Unit 2 Planning and Designing Research                                              C359 Financial Econometrics
Unit 3 Reviewing the Literature and Making                              Financial markets generate vast amounts of data on asset
Methodological Choices                                                  returns, their volatility, and other financial variables in long
Unit 4 Data                                                             and high-frequency time series. The ability to analyse market
Unit 5A Interviews, Focus Groups and Surveys                            behaviour requires knowledge of the properties of time series
Unit 5B Introduction to Data Analysis I                                 and appropriate estimation methods. The objective of the
Unit 6A Fieldwork and Observation                                       course is to extend your knowledge and equip you with
Unit 6B Introduction to Data Analysis II                                methods and techniques that allow you to analyse these
Unit 7 Validity and Reliability                                         finance-related issues. It would be beneficial to complete the
Unit 8 Writing and Presenting Research                                  course Econometric Analysis & Applications [C332] before
                                                                        taking this course.
  C356 Banking Regulation and Resolution of                             Unit 1: Statistical Properties of Financial Returns
                      Banking Crises                                    Unit 2: Matrix Algebra, Regression and Applications in
In this course you study technical aspects of bank regulation,          Finance
supervision, and intervention to resolve crises. It relates the         Unit 3: Maximum Likelihood Estimation
techniques to fundamental principles and to examples of                 Unit 4: Univariate Time Series and Applications to Finance
countries‟ experience.                                                  Unit 5: Modelling Volatility – Conditional Heteroscedastic
Unit 1 Why and how should banks be regulated?                           Models
Unit 2     Banking supervision and regulation                           Unit 6: Modelling Volatility and Correlations – Multivariate
Unit 3     The prudential supervision of banks                          GARCH Models
Unit 4 Bank crises: Weak banks and lender of last resort                Unit 7: Vector Autoregressive Models
support                                                                 Unit 8: Limited Dependent Variable Models
Unit 5: Restructuring failed banks and protecting
depositors
Unit 6 The institutional structure of financial regulation
Unit 7     Regulation, supervision and financial stability
Unit 8     Issues in international supervision and regulation


  C357 Microeconomic Principles and Policy
This course covers the principles underlying consumer
demand and producer supply. It also examines different
market structures and implcations of these for the producing
and output decisions of firms
Unit 1: Concepts of Markets, Demand and Supply
Unit 2: Consumer Theory
Unit 3: Theory of Production and Costs
Unit 4: Profit Maximisation and Competitive Supply
Unit 5: Non-Competitive Market Structures
Unit 6: Factor Input Markets




                                                                   43
                                Short Course General Regulations:
                                   Masters Level Programmes


1.      The Regulations                                                   the formal assessment of that short course has been successfully
                                                                          completed.
1.1    The University offers a number of short course
programmes to External students. These short course                       1.10 „Non-credit bearing‟ short courses are short courses that
programmes include credit bearing and non-credit bearing short            may not be taken into account for admission to a related to
courses.                                                                  unrelated Postgraduate degree, diploma or certificate. No credit
                                                                          or exemption for the related or unrelated degree, diploma or
1.2     The provision of credit bearing and non-credit bearing            certificate will be given.
short course programmes at Masters level, and the registration of
External students for credit and non-credit bearing short courses,        1.11 Credit bearing and non-credit bearing short courses are
is regulated by both these General Regulations and the Short              collectively known as „short courses‟ in these Regulations.
Course Programme Regulations.
                                                                          1.12 These Short Course General Regulations describe the
1.3      Registered External students are required to comply with         individual elements of a short course programme as „subjects‟.
these General Regulations and the appropriate Short Course                In the relevant Short Course Programme Regulations these may
Programme Regulations. They must also comply with the                     be called „courses‟, „units‟, „modules‟ or „sections‟.
procedures, deadlines and instructions issued by the University
in, for example, the relevant Student handbook and in the Notice          1.13 „Formal assessment‟ is the means by which credit
to Candidates, which is sent to students prior to an examination.         bearing short courses are examined. The forms of assessment
The University is not responsible for any consequences arising            associated with the appropriate level of postgraduate study are
from failure to comply with these Regulations, procedures,                used.
deadlines or instructions.
                                                                          1.14 The term „examination‟ used in these Regulations refers
1.4     The rules relating to credit bearing and non-credit               to the entire assessment for a credit bearing short course, and
bearing short courses in any given year are those included in the         includes not only the written paper for that short course but also
General Regulations and the relevant Short Course Programme               any coursework, project, dissertation or online requirements that
Regulations for that current year and not in the year in which the        count towards the final assessment.
student initially registered.
                                                                          1.15     Where short courses are associated with a particular
1.5     To register for a short course programme as an External           Postgraduate degree, diploma and/or certificate, these are
student, an applicant must satisfy any entrance requirements for          referred to as ‘related’ degrees, diplomas and certificates.
the short course programme concerned. In addition, an applicant
who was either previously registered as an External student or            1.16 The „Admission Notice‟ is provided to each student who
who was previously enrolled at a constituent College or Institute         has made an entry to an examination. The Admission Notice
of the University of London must have made satisfactory                   contains the student‟s candidate number and confirmation of the
payment to the University or College/Institute of all due fees            dates and time of the examination(s) for which he/she has
and accounts. An applicant who fails to satisfy this condition            entered.
will not be permitted to register, or to register again, as an
External student.                                                         1.17 The „Notice to Candidates‟ contains prescribed rules for
                                                                          the examinations. The Notice to Candidates is provided to
1.6     On all matters concerning the interpretation of these             students together with their Admission Notice.
Regulations and the Short Course Programme Regulations, or on
which they are silent, the decision of the University shall be            Student complaints procedure
final.
                                                                          1.18 The University has a Procedure for External student
Changes to the short course provision                                     complaints which can be found on the External System web site.

1.7     Short course programmes are reviewed annually and are
subject to change. Two years‟ notice will normally be given to
registered students of any major amendment to a programme,                2.     Short courses
particularly where courses are to be withdrawn.
                                                                          2.1    The short courses available are given in the relevant
Terminology and definitions                                               Short Course Programme Regulations for the current year.

1.8    A „short course programme‟ is a collection of short                2.2     The relevant Short Course Programme Regulations
courses in a particular field of study, as defined in the relevant        indicate whether there is a maximum limit to the number of
Short Course Programme Regulations.                                       credit bearing and non-credit bearing short courses that may be
                                                                          taken on that programme and will state a maximum if a limit
1.9     „Credit bearing‟ short courses are short courses that may         applies.
be taken into account for admission, and for credit, to a related
or unrelated Postgraduate degree, diploma or certificate provided         2.3     All credit bearing short courses will accommodate no
                                                                          less than 50 notional study hours.
                                                                     44
                                                                           3.3     Where indicated in the relevant Short Course Programme
2.4     Notional hours for non-credit bearing short courses are            Regulations, a student who has successfully completed the
indicated in the relevant Short Course Programme Regulations.              formal assessment of the relevant credit bearing short courses
                                                                           may apply to receive any related awards provided they satisfy
2.5     Students may apply to take any short course available in           the requirements for those awards and the application is made
a year unless they have already been awarded a related                     within three years of the completion of the relevant short
degree/diploma/certificate, in which case they may not normally            courses.
offer a short course which is the same as, or equivalent to, a
subject previously passed.                                                 3.4    Successful completion of a credit bearing short course or
                                                                           courses does not in itself automatically satisfy entry
2.6      All students registering for any short course will receive        requirements for any Postgraduate degree, diploma or certificate,
a certificate of registration. A certificate of achievement will be        or ensure credit.
presented to students who have satisfactorily completed any
study requirements indicated in the relevant Short Course                  3.5     All applications for progression from a credit bearing
Programme Regulations and who successfully complete the                    short course to a Postgraduate degree, diploma or certificate will
assessment of a short course.                                              be considered on an individual basis and permission to progress,
                                                                           and, where appropriate, to receive credit, will be at the discretion
2.7     To be eligible for a certificate of registration and a             of the University.
certificate of achievement, a student must have been registered
for that short course as an External student and must have                 3.6      A student who does not successfully complete the
complied with the Regulations in all respects, and have made               assessment for a credit bearing short course may be permitted to
satisfactory payment to the University of all due fees. The                proceed to a degree, diploma or certificate provided he or she
University reserves the right not to present a certificate to              satisfies the entrance requirements for the degree, diploma or
students who fail to satisfy any of these conditions.                      certificate concerned. Such students may be required to cancel
                                                                           their existing registration and to submit a fresh application for
2.8     A mark or grade awarded for a short course will not                registration and comply with the Regulations for that degree,
replace any mark or grade for a degree, diploma or certificate             diploma or certificate.
already awarded.
                                                                           Non-credit bearing short courses
2.9     Unless the relevant Short Course Programme
Regulations state otherwise, a student whose registration for a            3.7      The completion of a non-credit bearing short course or
short course has been terminated because he or she has                     courses will not be taken into account for admission, or for
exhausted the permitted number of attempts at an examination               credit, to a related or unrelated Postgraduate degree, diploma or
may apply to register again as an External student for a short             certificate.
course or award in the same or different subject or field of study.
All applications will be considered on an individual basis.                3.8     A student who is registered for a non-credit bearing short
Permission to register in these circumstances will be given at the         course or courses may apply to register for a degree, diploma or
discretion of the University and will be subject to any further            certificate provided he or she satisfies the entrance requirements
conditions specified in these Short Course General Regulations             for the degree, diploma or certificate concerned. Such students
or in the relevant Short Course Programme Regulations, or by               may be required to cancel their existing registration and to
the University.                                                            submit a fresh application for registration and comply with the
                                                                           Regulations for that degree, diploma or certificate.
2.10 It is at the University‟s discretion to determine whether a
student who registers again for an award under paragraph 2.9 of
the General Regulations can receive credit for any subjects
previously passed.
                                                                           4.     Period of registration
2.11 A student who receives credit for subjects previously
passed will not be permitted to re-enter the examination for               4.1    Students registering for a short course will be registered
those subjects.                                                            for a maximum period of two years. There is no minimum
                                                                           period of registration, unless indicated otherwise in the relevant
                                                                           Short Course Programme Regulations.

                                                                           4.2     Applications for a renewal of registration for a further
3.     Progression to a degree, diploma or                                 two years, or for an extension of registration of one year beyond
       certificate                                                         the prescribed maximum period, may be made by students who
                                                                           have not completed all the requirements for a short course for
Credit bearing short courses                                               which they are registered. A fee may be payable.

3.1      Successful completion by formal assessment of a credit            4.3     Renewal of registration and extension of registration are
bearing short course or courses may be taken into account for              approved only at the discretion of the University and will be
admission to a related or unrelated Postgraduate degree, diploma           subject to the General Regulations and Short Course Programme
or certificate.                                                            Regulations that are current at the time of renewal or extension.

3.2     Successful completion by formal assessment of a credit             4.4     Students who are permitted to proceed from a credit
bearing short course or courses may be taken into account for              bearing short course to a Postgraduate degree, diploma or
credit towards the related Postgraduate degree, diploma or                 certificate will be given a new period of registration as an
certificate, provided that the application is made within three            External student, effective from the date of registration for the
years of the completion of the relevant course or courses.                 degree, diploma or certificate concerned. The maximum period
                                                                           of registration permitted will be the same as for all other degree,

                                                                      45
diploma or certificate students registered for that programme, as
indicated in paragraph 5 of the relevant Programme Regulations.             Examination centres

4.5     If a student fails to pay the appropriate fees or breaches          5.10 Examinations by written paper are held at established
any relevant disciplinary or conduct code, the University                   examination centres worldwide.
reserves the right to apply the Code of Student Discipline and
The Suspension and Termination of Registration of Students in               5.11 Outside the United Kingdom and Republic of Ireland,
Debt process as described in the University of London                       examinations are conducted by independent bodies known as
Ordinances (Ordinance 17 and 18 respectively).                              examination centres.

5.      Assessment                                                          5.12 In countries where an established examination centre
                                                                            exists, students must use the facilities provided by that Centre.
                                                                            The University will not establish an alternative centre in those
5.1     The assessment of a short course or courses is governed
                                                                            countries.
by the Short Course General Regulations and the relevant Short
Course Programme Regulations that is applicable at the time of
                                                                            5.13 All examinations are held at the discretion of the
the examination and not at the time that a student was initially
                                                                            examination centre and are subject to any conditions they may
registered or first attempted the examination/assessment
                                                                            impose.
concerned.
                                                                            5.14 Students are required to apply to the relevant
Credit bearing short courses                                                examination centre for permission to sit an examination. The
                                                                            University can accept no responsibility for making examination
5.2     The assessment for credit bearing short courses varies              arrangements on behalf of a student. It is entirely at the
and is as described in the relevant Short Course Programme                  discretion of the examination centre to accept or refuse an entry
Regulations.                                                                to an examination.
5.3     Credit bearing short courses will be formally assessed              5.15 A fee is normally levied by all examination centres
using the forms of assessment associated with the appropriate               (other than London). This fee is payable by students each time
level of postgraduate study.                                                they make an examination entry. The University cannot be
                                                                            responsible for this fee nor can it influence the level of fee
5.4     Students may choose whether or not to be formally                   charged.
assessed in the credit bearing short course for which they are
registered. Students who choose to be formally assessed will be
                                                                            Non-credit bearing short courses
examined to the same standard as that required by students
registered for the related degree, diploma or certificate. All
                                                                            5.16 The assessment for non-credit bearing short courses
students must comply with the rules given in the Short Course
                                                                            varies and is as described in the Short Course Programme
Programme Regulations for those examinations, and may not
                                                                            Regulations. There is no formal assessment for non-credit
make more than the number of attempts permitted.
                                                                            bearing courses.
5.5      In order to sit an examination, a student must:
                                                                            5.17 Students may choose whether or not to be assessed in the
      have completed the relevant application and
                                                                            non-credit bearing short course for which they are registered. All
      registration/enrolment procedures with the University by
                                                                            students who choose to be assessed must comply with the rules
      the appropriate deadlines and be registered as an External
                                                                            and deadlines given in the Short Course Programme Regulations
      student for the short course concerned and
                                                                            for the assessment.
      have made an examination entry in accordance with both
      the University‟s and the appropriate examination centre‟s             5.18 All forms of assessment must be written in English,
      instructions and deadlines.                                           unless the Short Course Programme Regulations state otherwise.
5.6    Except in the circumstances of paragraph 5.7, all                    5.19 In addition to paragraph 5, students are required to
examinations by written paper for the same short course,                    comply with the rules on the conduct of examinations given in
wherever held, will take place on the same date and at the same             paragraph 8 of these Regulations.
time. The University reserves the right to set different papers in
the same subject in separate countries and in different time
zones.

5.7     In the event of any unavoidable delay in the arrangement            6.     Number of attempts permitted
of examinations in a country other than the United Kingdom, the
examination centre will arrange for the relevant papers to be               6.1     A student who fails to satisfy the Examiners in an
taken with as little deviation as possible from the original dates          examination at the first attempt will be permitted to make one
assigned to them. Students are required to abide by any such                further attempt at that examination. The maximum number of
revised arrangements. The University reserves the right not to              attempts permitted at any examination for a short course is two.
mark a paper taken at a different time from that prescribed.
                                                                            6.2     A student who enters an examination hall to attempt a
5.8     Where it is deemed necessary, Examiners may change                  written paper will be considered to have made an examination
the format or rubric of a written paper, from that of a previous            attempt. Unless otherwise stated in the Programme Regulations,
year, without prior notice to students.                                     absence from an examination will not count as an attempt

5.9     Except where the syllabus/course outline or rubric for a            6.3   The mark or grade awarded for a second attempt at an
written paper for a particular short course indicates otherwise, all        examination will supersede any previously awarded mark or
answers to examinations must be written in English.

                                                                       46
grade for that examination, unless otherwise indicated in the
relevant Short Course Programme Regulations.                              6.5     Except as otherwise provided for by the University,
                                                                          students may not make a further attempt at the examination for a
6.4    If a student fails to satisfy the Examiners at a second            short course that has been passed.
attempt at any examination his or her registration for the short
course concerned will cease.
                                                                          or other supporting certification obtained at the time of illness.
                                                                          Notification received more than three weeks after the date of the
7.     Students with a disability and/or                                  last examination will not be taken into account by the
       special needs                                                      Examiners.

7.1     The University has a policy for External students with a          8.3     Appeals against the results of examinations may not be
disability and/or special needs and a statement explaining this           made on academic grounds. The University will consider
policy is given on the External System web site.                          representations concerning examination results made on the
                                                                          grounds of administrative error or where there is concern that the
7.2     As part of its policy, the University will make every             examination may not have been conducted in accordance with
reasonable effort to accommodate the requirements of a student            the relevant Instructions and/or Regulations. An administration
with a disability and/or special needs by, wherever possible,             fee (currently £50 per paper) is payable for the consideration of
providing any study materials in a different format (e.g. large           such representations (refundable in the event that an error is
print) or another medium, and/or by making special examination            found). Any representation must be made within one month of
arrangements. If the University is unable to provide the study            the publication of the decision of the Board of Examiners to
materials in the format which has been requested, the University          which it relates and should be addressed to the Corporate
will endeavour to make an alternative suggestion.                         Performance and Quality Directorate and be accompanied by
                                                                          payment of the administration fee. Representations must state
Special examination arrangements                                          the grounds on which the appeal is made and provide evidence
                                                                          to support it.
7.3     The University has a Panel which considers special                Further information on the procedure may be obtained from the
examination arrangements for students with a disability and/or            Corporate Performance and Quality Directorate.
special needs. The aim of the Panel is to make sure that a student
with a disability and/or special needs is neither disadvantaged           Permitted materials
nor advantaged when compared to other students. The
University cannot guarantee that special examination                      8.4     A student may use in the examination only such books,
arrangements will be possible in every case.                              notes, statutes, statistical tables, instruments, or other materials
                                                                          as are specifically permitted in the relevant Short Course
7.4     Applications from students with a disability and/or               Programme Regulations and/or the Admission Notice/timetable.
special needs may be considered for the use of special aids or for        No other books, notes, instruments, or other materials or aids
extra time in the examinations.                                           whatsoever may be introduced into an examination room or be
                                                                          handled or consulted during an examination. Any such materials
7.5     Special arrangements for examinations at an ad hoc                or aids in the possession of a student on entry to the examination
centre may be made in very exceptional circumstances and then             room must be deposited immediately with the Invigilator before
only in the United Kingdom. Arrangements cannot be made for               the examination starts. It is an examination offence to introduce
oral or practical examinations to be held at an ad hoc centre,            unauthorised materials into the examination room.
although in exceptional cases it may be possible to permit the
use of special aids. Arrangements for examinations in a student‟s         8.5     The use of calculators in the examinations is strictly
home are not made. Additional fees may be payable for                     controlled. Students may use their own electronic calculators in
arrangements at an ad hoc centre.                                         the examinations provided that:
                                                                          a)      the relevant Short Course Programme Regulations permit
7.6     A student who finds handwriting difficult due to medical                  this
or learning difficulties must apply to the University for special         b)      the calculator complies with the specification given in
arrangements to be made. The University will not transcribe                       paragraph 8.6
illegible scripts. Any script deemed illegible by the Board of            c)      Where no such permission is given in the Short Course
Examiners will be assigned a mark of zero and a fail result will                  Programme Regulations, calculators may not be used.
be given. This will count as an attempt at the examination.
                                                                          8.6     Where calculators are permitted, the following
                                                                          specification will apply, unless the relevant Short Course
                                                                          Programme Regulations state otherwise:
8.     Conduct of examinations                                                Non-programmable. The use of a calculator or other
                                                                              electronic device that communicates, stores textual or
8.1     All students are required to comply with the rules                    numerical information, or displays textual (except error)
governing the conduct of examinations given below, and for                    messages, graphical or algebraic information is strictly
credit bearing short course students, in the Notice to Candidates             forbidden. The use of a calculator with alphabet and/or
accompanying the Admissions Notice.                                           symbol keys not listed below is strictly forbidden.
                                                                              PDAs, mobile phones or other devices are forbidden
Representations about examinations                                            Hand held
                                                                              Compact
8.2     Students who wish the Board of Examiners to know of                   Portable
any illness or other adequate cause which they think may have                 Solar and/or battery powered
affected their performance must immediately inform the                        Quiet in operation
Examinations Office and furnish a supporting medical certificate
                                                                     47
    The use of calculators with the following symbols and                  8.12     All work submitted as part of the requirements for any
    functions only are permitted:                                          examination must therefore be expressed in the student‟s own
    Digit keys 0 to 9 and decimal point;                                   words and incorporate their own ideas and judgements.
    Keys for basic arithmetical functions of addition,
    subtraction, multiplication, division and equals;                      8.13       Direct quotations from the published or unpublished
    Percentage key;                                                        work of another person must always be clearly identified as such
    Square root key;                                                       and a full reference to the source must be provided in the proper
    Basic 3 key memory (MRC, M-, M+);                                      form. A series of short quotations from several different sources,
    Clear keys (C, AC);                                                    if not clearly identified as such, constitutes plagiarism in the
                                                                           same way as an unacknowledged quotation from a single source.
    On/off key.
                                                                           Equally, if another person‟s ideas or judgements are
                                                                           summarised, the student must refer to that person in the text and
8.7     The use of any calculator other than the type specified in
                                                                           give details of the work to which reference is made.
the paragraph 8.6 of the Short Course General Regulations, or in
paragraph 6 of the Short Course Programme Regulations, will
                                                                           8.14      It is an examination offence to submit work which has
constitute an examination offence and will be subject to the
                                                                           been written jointly by two or more persons, unless expressly
provisions in paragraph 8.16 of these regulations. Students are
                                                                           permitted in the Programme Regulations.
responsible for ensuring that their calculators are in working
order for the examination. Students must ensure that they have
                                                                           8.15      Assignments, essays, projects, reports, dissertations
alternative means of calculation in the event of the calculator
                                                                           and other similar work must therefore be the student‟s own work
failing during the examination, either through the use of a
                                                                           and must be written without the assistance of other people,
second calculator, which also complies with the specification
                                                                           except where expressly permitted in the Programme
given in the relevant Short Course Programme Regulations, or to
                                                                           Regulations. A student will be required to submit a signed
continue the examination without the use of a calculator. If
                                                                           declaration for all such work submitted, stating that they
students use electronic calculators in examinations they must
                                                                           understand what is meant by plagiarism, and confirming that the
indicate on their examination scripts the name and type of
                                                                           work submitted is entirely their own and that the use of
machine used. Calculators will not be provided by the
                                                                           published or unpublished works of other people has been
University.
                                                                           acknowledged in accordance with the University‟s requirements.
Examination offences                                                       8.16      It is the responsibility of the student to safeguard their
                                                                           assignments, essays, projects, reports, dissertations and other
8.8        It is an examination offence for a student to take into,        similar work and to prevent them from being copied by other
or use in, the examination room any unauthorised materials,                students.
aids, instruments or equipment which may be used to their
advantage. A student must not take into the examination room,              8.17      The examination offences listed above will be treated
or consult during the examination, any books, notes, instruments           as cheating or irregularities of a similar character under the
or other materials or aids that are not permitted. This includes           provisions of the Procedures for the Consideration of
the use of unauthorised programmable calculators or the use of             Allegations of Examination Offence of the University‟s
permitted materials that have been personally annotated such as            Regulations (Regulation 1 Annex 6 and, as appropriate, Annex
statutes. All such materials or aids must be deposited with the            7). Under these Regulations, students found to have committed
Invigilator before the examination starts. A student who takes             an offence may have the results of their examinations withheld
any unauthorised materials, aids, instruments or equipment into            and may be excluded from all future examinations of the
the examination room must surrender them to the Invigilator on             University.
request. Failure to comply with a reasonable request from an
Invigilator constitutes an examination offence.                            Other matters

                                                                           8.18 The University reserves the right to require students
8.9        A student must not pass any information between                 sitting an examination for a written paper to remain within the
themselves and another student during an examination of a                  examination hall or its precincts for the duration of the relevant
written paper. This includes written, verbal and gestural                  paper.
communication. A student may not act in collusion with another
student or any other person, nor copy from another student, their          8.19 All examination scripts are the property of the University
books, notes, instruments, computer files, other materials or              and will not be returned to students. Answers to assignments,
aids, nor engage in any similar activity. Any of these activities          essays, course projects and other similar work written in the
constitutes an examination offence.                                        student‟s own time will only be returned to the student as
                                                                           described in the relevant short course programme manual. Final
8.10      It is an examination offence to remove stationary or             reports on research projects or dissertations will not be returned
other materials from the examination hall that have been                   to students, unless indicated otherwise in the Short Course
supplied by the University or examination centre for                       Programme Regulations.
examination purposes.
                                                                           8.20    All question papers will be retained by the University.
8.11      Plagiarism is the copying and use of someone else‟s
work, whether intentionally or unintentionally, as if it were the
student‟s own. Another person‟s work includes any source that
is published or unpublished including words, images, diagrams,
                                                                           9.      Fees
formulae, audio recordings, computer code, ideas and
judgements, discoveries and results. Plagiarism is an                      9.1     Students are required to pay the fees that are due in any
examination offence.                                                       particular year in full at the time when they fall due. Fees must
                                                                           be paid in accordance with the University‟s procedures and
                                                                           deadlines given in the prospectus and the relevant Short Course
                                                                           Programme Regulations.
                                                                      48
9.2     The University reserves the right to amend previously
announced fees. The University also reserves the right to make
additional charges.

9.3     Students who are permitted to proceed from a short
course to a Postgraduate diploma, degree or certificate (see
paragraph 3) will be required to pay the registration fee for the
diploma, degree or certificate and the fee for the remaining
subjects.

9.4      Students who are permitted to renew their registration at
the expiry of the initial period of registration (see paragraph 4.2)
will, as applicable, be required to pay a further fee for the
relevant short course concerned.

Refunds

9.5        Students can request a cancellation of any service and
a full refund of the corresponding fees paid to the University by
sending a request in writing (by email, fax or post) that is
received by the University within 7 working days of the original
request for the service.

9.6       After the 7 working day period described in 9.5,
application handling fees and examination entry fees are not
refundable. Examination entry fees cannot be transferred from
one examination to another.

9.7        After the 7 working day period described in 9.6,
registration and continuing registration fees are not refundable
except in the most exceptional circumstances. In these cases, a
proportion of the registration and any continuing registration
fees which have been paid may be refunded at the discretion of
the University, provided that:
          the application is made within two years of the
          effective date of registration
          the student has not already entered an examination
          any required medical or other evidence is submitted.




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