Law & Finance Timetable and Modules

Michaelmas Term

• Corporate Finance
• Corporate Finance, Company Law & Governance
• EU Financial Services Law

Hilary Term 

• Business Ethics
• Investments & Sustainability
• Research Dissertation

Module Descriptions

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Corporate Finance (5 ECTS)

The Finance function is a critical aspect of any organisation. The success or failure of a firm may be influenced significantly by how it manages its’ finances. It is therefore important for managers and employees to understand the principals of financial management. An understanding of the concepts of financial management is useful regardless of what position an employee has within an organisation. This course is designed to provide a comprehensive understanding of financial management. It focuses on analysing and evaluating investments using various techniques. It covers several topics related to financial management such as portfolio theory, stock market investing and how to maximise corporate value. The information provided in this module will also be useful in managing your personal finances. Throughout this module, students will become familiar with the concepts of Financial Management and financial language and terms used within the literature and the media.

Having successfully completed this module, the student should be able to:

• Explore the concept of financial management and its importance to organisations.
• Appraise capital investments through the use of appropriate methods and techniques.
• Understand the relation between risk and return and the importance of managing this relation in corporate decision-making.
• Understand alternative theories of stock market investing.
• Explain how businesses create value.

Business Ethics (5 ECTS)

This course provides a comprehensive introduction to core theoretical concepts of business ethics as well as corporate sustainability and responsibility (CSR). This includes understanding the relation between business and ethics, defining relevant terms and constructs as well as distinguishing between multiple levels of analysis in an international context. Next, the course focuses on a critical discussion of several theoretical approaches to business ethics and CSR. Ethics in business for CFA will also be mentioned, including the moral obligations of professionals in the investment industry, such as acting with integrity, competence, diligence, respect, and putting the interests of clients and the profession above their own personal interests. Since business ethics ultimately aims at influencing business practice, the course then focuses on the practical implementation of business ethics in multinational corporations.

Having successfully completed this module, the student should understand and apply the core principles of business ethics, which are relevant to today's industries, as outlined below:

• Understand the critical role and fundamental concepts of business ethics including corporate sustainability and responsibility, stakeholder management and value creation.
• Develop innovative approaches to new and existing business problems. (i.e., solving ethical challenges through stakeholder-oriented, responsible management practices)
• Identify relevant business problems and opportunities including ethical, economic, social, environmental and political aspects of global business, and then employ appropriate methodologies to solve decision problems (i.e., tools and frameworks for ethical decision-making and problem-solving)
• Demonstrate effective fundamental professional oral and written communications skills through group presentations and class discussions.
• Work effectively in a diverse team environment to generate an appropriate solution for a real-world business problem through group projects as well as case studies in class.

Investments & Sustainability (5 ECTS)

Allocating money from savers to borrowers provides capital for firms and governments, and allows individuals to achieve on their investment objectives over the investment cycle. In this module we will assess the opportunity set of different asset classes, and how to evaluate their risk and performance.  We will investigate how assets are best combined to build portfolios, using methods from portfolio theory and practice.  We will discuss the role of derivatives, mechanics of investing, and the behavioural aspects of investing. Finally, we will look at how sustainable finance and investing brings a new dimension to the investment world.   

• Compare the main categories of financial assets (traditional and alternative), and their role in providing diversification to a portfolio.
• Assess the core concepts of investment theory and the mechanics of investing
• Evaluate the relationship between risk, return and the covariance of asset returns, and how these contribute to overall portfolio risk and performance.
• Calculate the optimal allocation of investment capital between risky assets.
• Critique the theory underlying asset pricing models such as Markowitz Model, Single Index Model (“SIM”) and the Capital Asset Pricing Model (“CAPM”)
• Critique different asset allocation models in particular Total Portfolio Approach (TPA) and Strategic Asset Allocation (SAA)
• Assess the role of sustainable finance in bringing a new dimension to the role of investing in society.

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Dissertation (30 ECTS)

The objective of the project is to allow students to demonstrate and apply the techniques and knowledge acquired from the taught courses to a problem of real-world academic or managerial concern. To complete this module, which is worth 30 ECTS credits and is compulsory, students should: 

• Demonstrate that they have a good knowledge of the relevant literature on their chosen topic
• Identify an interesting question associated with that topic and analyse this question using the techniques and tools learned, showing that they have a good grasp of the applicability of these techniques (statistical, numerical or theoretical);
• Present the results of their analysis in a clear and convincing manner, within the word limit of no more than 12,000 words;
• Show their ability to communicate their work to a broad audience via the creation of an executive summary which should be 1500 words or less and which should be in the form of an academic article or managerial report.