BSc Finance: Investment Banking

BEA1008: Introduction to Financial Accounting

This is an introductory financial accounting module that is aimed at students who intend to major in accounting in their undergraduate studies, or who have a keen interest in gaining a technical understanding of elementary financial accounting. The first part of the module outlines the framework of accounting - its nature, purpose , and the context /environment in which it is practised. The module then covers the basics of accounting ( i.e. concepts, conventions, principles and the accounting equation) and the recording/summarising mechanism s that underlie financial accounting. In addition, the recognition and measurement principles are also taught. Finally, the module covers the preparation of financial statements from the trial balance for various types of entities including sole traders and limited companies. The module uses the International Financial Reporting Standards as reference.

Additional Information:

Internationalisation

Internationalisation is embedded in the content of this module through the use of the International Financial Reporting Standards (IFRSs). Moreover, the principles of introductory financial accounting are common across most countries.

Sustainability

All of the resources for the module are available on ELE (the Exeter Learning Environment).

External engagement

The module content meets the standards of the professional accountancy bodies (e.g. ICAEW, ACCA, ICAS and CIMA) and the module is accredited by them.

Employability

Material taught in this module is highly relevant to accounting- and business-related jobs. The module also offers an opportunity for students to develop their numeracy and logical thinking skills.

Widening Participation

Students are given problem sets a week before the workshops and work on the questions independently. In the workshops they have the opportunity to discuss any difficulties with in the group.

Additional, optional weekly classes are held which are student-driven, where questions can be raised on any topic covered to date.

Research in teaching

The module is informed by the module convenor's research interest in financial reporting and accounting education .

This module aims to provide first time accounting students with a broad understanding of financial accounting, a thorough grounding in double-entry bookkeeping, and the skills to prepare simple financial statements for different types of entities. It will provide students who have a keen interest in accounting or intend to major in accounting in their undergraduate studies with a solid foundation in financial accounting and reporting.

(Note: this module cannot be taken together with BEA1013 Introduction to Accounting)

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BEA1014: Statistical Methods for Accounting and Finance

This module equips you with foundational statistical skills essential for proficiency in accounting and finance. It focuses on introducing key statistical concepts, techniques, and tools relevant to analysing financial data. You will develop sound knowledge in applying statistical methods to real-world financial scenarios, enhancing their ability to make informed decisions. Through practical applications and occasional case studies, you will grasp statistical tools like regression analysis, probability, and hypothesis testing. This module aims to cultivate a strong quantitative foundation, empowering you with the analytical skills crucial for a successful career in accounting and finance.

Internationalisation:
Statistical tools are generally applicable; scenarios for collecting and analysing data will have a mixture of UK, EU and non-EU flavours so that they are more relevant to an international student body. Collaborative work on the case study aims to bring students together from different cultural backgrounds.

Sustainability:
Availability of study materials (lecture notes, tutorial questions, readings) on ELE rather than by hard copy. Some tutorial question scenarios will reflect sustainability issues such as sourcing of materials, resource consumption and alternative energy sources.

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BEE1023: Introduction to Econometrics

BEE1023 introduces students to the theory and application of econometrics.

Additional Information:

Employability

The module introduces methods of empirical analysis which are frequently employed in academia and businesses across many disciplines and industries.

Research in Teaching

Students will study and replicate examples from various empirical research projects in economics.

BEE1023 aims to familiarise students with bivariate and multivariate linear regression analysis. The contents of this module form the basis for all econometrics teaching in the undergraduate economics programmes.

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BEE1029: Economic Principles

This module introduces Economics and explores the main characteristics of economies using historical and cross-country comparisons across the major dimensions of economic performance (growth, inequality, stability). By taking the main economic actors and showing how they make decisions, the course covers behaviour in goods and labour markets, highlighting the role of the players of the game, and showing the sources of market successes and market failures. Behaviour of households and firms is analysed in the economy as a whole, along with that of fiscal and monetary policy makers.

The module consists of two semesters of teaching, each covering core theory and applications from the main course resources: CORE's The Economy, Society and Public Policy (Term 1), CORE's The Economy 2.0 Macroeconomics (Term 2) and CORE's Doing Economics (Term 2).

This course aims to provide students with a basic understanding of Economics, and to apply this way of thinking to real world problems. It aims to help students understand the world around them, become more astute participants in the Economy and Society and help them understand Economic Policy so that they can better judge the decisions affecting the allocation of their society's resources.

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BEE1038: Introduction to Data Science in Economics

This module gives you practical experience in working with data and learning Python for analysis. You will learn how to prepare, analyse and visualise data, and how to apply a selection of commonly used data science techniques. A key feature of the module is a small independent project, where you choose a question that interests you, work with real data and produce clear, evidence‑based insights.

The aim is to help you understand, apply and interpret core data science methods while developing confidence in using programming to support analysis. If you want to build practical data skills that complement your statistical knowledge and are valuable across many disciplines and careers, this module offers a structured and accessible starting point.

Students taking this module should already have a good grasp of statistics.

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BEF1015: Finance and Investment

This module provides a general overview to the role of financial assets and markets from the perspective of the investment operations. You will gain a broad understanding on the fundamentals of securities and investment under the current economic environment within the financial services industry. The module examines the role of the industry and the main participants that are seen in financial centre around the globe. This module shows how understanding of the disadvantages and advantages and risks associated with financial assets can be provided to support an organisation's management in investment decision-making and control. Whilst the module assumes no previous mathematical experience, it does assume a fundamental understanding of accounts - therefore BEA1008 is a co-requisite.

Additional Information:

Internationalisation

The content of this module takes an international perspective and draws on examples from a diverse range of businesses.

Sustainability

All of the other resources for this module are available on the ELE (Exeter Learning Environment).

External Engagement

Occasionally there will be guest lectures from Professionals from local accounting firms.

Employability

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BEM1028: Introduction to Business and Management

This module is designed for first year finance and accounting students looking for an introduction to business and management, to gain greater business insight particularly around ethics, sustainability and technology.

Equality, Diversity & Inclusion (EDI) & Ethics

This module considers how business and management can promote greater EDI within their own team, department, organisation and sector, as well as within wider society, considering what are ethics and what is an ethical, responsible, sustainable professional manager including how this relates to finance and accounting professional standards of ethical behaviour.

Internationalization
Differences relating to the international dimensions of business and management are covered, with a strong emphasis on the UK context to exemplify a variety of different business structures may be possible depending upon local context, and these in turn require alternative approaches for management, particularly around sustainability and ethics, recognising different cultural, regional, national and regulatory requirements may exist.

Ethics, Responsibility and Sustainability (ERS)

Consideration is given to the wider impact of business upon the environment, communities and society as a whole, including consideration of how and whether business can benefit from new technology and data whilst remaining ethical, responsible and sustainable.

External Engagement

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BEA2018: Corporate Finance

Summary:

Note: cannot be taken with BEE3059 Asset Pricing or BEA3008 Finance for Managers

This module provides a thorough treatment, grounded in the academic literature and pertinent for the practitioner, of the following key financial questions which are faced by the directors and managers of firms - in which projects should the firm invest; how should this investment be financed; and how should the financial relationship with providers of finance be managed?

Additional Information:

Internationalisation

The content of this module takes an international perspective, particularly when considering the financial market, financing and investing decisions.

External Engagement

This module content meets the standards and is accredited by major accreditation bodies, including the ACCA, ICAEW, ICAS and CIMA

Employability

Students acquire knowledge in this module, including a solid understanding of basic financial theory, which is highly relevant to jobs related to finance and accountancy. This module also offers an opportunity to develop their numeracy and logical thinking skills.

Sustainability

Sustainability and related factors (e.g. social, governance and ethical) are considered in the module where appropriate. All of the resources for this course are available on the ELE (Exeter Learning Environment).

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BEF2012: Ethics and Corporate Governance

This module introduces key concepts in ethical behaviour and corporate governance within the investment industry, addressing the challenges of maintaining high professional standards. Students explore ethical dilemmas, governance frameworks, and structured decision-making models to navigate conflicts responsibly. The module develops the ability to analyse decisions from multiple perspectives, strengthen professional judgment, and mitigate unintended ethical consequences. Students also learn to identify governance failures and recognise factors that impair ethical reasoning, ensuring accountability and integrity in financial practice. By applying ethical principles and governance standards, students are prepared to uphold professional responsibility in investment management and corporate leadership.

The module places particular emphasis on globally recognised standards, including the CFA Code of Ethics and Standards of Professional Conduct. Students examine core governance issues such as regulatory compliance, executive accountability, fiduciary duties, and shareholder rights. They also gain familiarity with the Global Investment Performance Standards (GIPS) and consider broader governance challenges facing firms and financial institutions.

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BEF2013: Investment Practice

The module aims to provide you with a background to investment environment including micro- and macro-economic environment and their impact on investments. This module introduces the main investment theories, investment products, principles of investment management and performance measurement. The overall aim is to introduce the concepts and associated tools that are fundamental to the investment practice in an organisation. You will be able to appraise the merits and limitations of the main investment theories. This module is suitable for those students who are interested in understanding how financial markets work and in potential careers in investment management and advisory.

The primary objective of this module is to empower you with the ability to apply statistical and financial mathematics techniques while developing an understanding of micro and macro-economic environments, accounting principles, and investment management principles. You will gain the skills to assess the characteristics, inherent risks, and behaviours of equities, cash and cash equivalents, and fixed-income securities. The module also delves into derivatives and alternative investments, covering their characteristics, inherent risks, behaviours, and relevant tax considerations. Additionally, you will critically evaluate the merits and limitations of key investment theories.

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BEF2014: Financial Reporting and Analysis

This module aims to provide you with a sound knowledge in financial reporting and financial statement analysis. The module provides a framework for guiding the financial statement analysis process. You will learn how to examine the past and current performance and financial position of a company in order to form expectations about its future performance and financial position. An examination of performance can include an assessment of a company's profitability and its ability to generate positive cash flows as well as factors that affect risks to a company's future performance and financial position.

The primary objective of this is to offer a comprehensive overview of the roles of financial reporting and financial statement analysis. It covers the significance of key financial statements—the statement of financial position, the statement of comprehensive income, the statement of changes in equity, and the statement of cash flows—in evaluating a company's performance and financial position. The module empowers you to identify various information sources used by analysts in financial statement analysis beyond annual financial statements and supplementary information.

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BEF2015: Quantitative Methods

This module provides knowledge in quantitative concepts fundamental to financial analysis. It introduces methods used widely in securities and risk analysis and in corporate finance to value capital projects and select investments. This module provides a foundation in descriptive statistics to characterise and assess risk, return and other important financial variables. It introduces fundamental techniques essential for a financial analyst, such as statistics, probability theory and regression analysis that support investment and risk decision making under uncertainty. You will also be introduced to techniques underlying how financial technology affects the investment industry, such as automated advice and risk management.

This module provides knowledge in quantitative concepts fundamental to financial analysis. It introduces methods used in securities and financial analysis and in corporate finance to value projects and select investments. This module provides a foundation in descriptive statistics to assess risk, return and important economic variables. It introduces techniques essential for financial analysts, such as probability and regression analysis that support investment and financing decisions under uncertainty. The module approaches these topics mathematically and provides practical statistical tools for analysis. You will be introduced to techniques underlying how fintech affects investment analysis and financial management.

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BEF2016: FinTech in Investment Management

This module is designed to provide a general overview on the concept of and areas of FinTech and outline some of its key areas of impact in the field of investment management. Regulatory and technological developments are changing the nature of financial markets, services and institutions in ways completely unexpected before the 2008 global financial crisis. Advancements include the use of Big Data, artificial intelligence, and machine learning are discussed to evaluate investment opportunities, optimise portfolios and mitigate risks. These developments affect not only quantitative asset managers but also fundamental asset managers who make use of these tools and technologies to engage in hybrid forms of investment decision making.

The primary objective of this module is to offer a comprehensive overview of the concepts and areas within FinTech, highlighting its key impacts on investment management. Regulatory and technological shifts are reshaping financial markets, services, and institutions, particularly in response to the unexpected changes following the 2008 global financial crisis. The module delves into topics such as Big Data, cryptocurrencies, and artificial intelligence, providing insights into how technology has transformed the role of financial analysts.

Specific areas of FinTech development directly relevant to the investment industry include:

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BEF2026: Equity and Fixed Income

This module examines the characteristics, analysis and valuation of equity and fixed-income securities. You will have a sound understanding on a structural overview of financial markets and their operating characteristics. The module provides an overview of equity securities and their different features and establishes the background required to analyse and value equity securities in a global context. Various asset types, market participants, and how assets trade within these markets and ecosystems are presented. The module also covers an introduction to the fixed-income securities and their markets, yield measures, risk factors, and valuation measures and drivers. You will have an overview of industry and individual company analysis and illustrate approaches that are widely used by financial analysts to examine an industry.

Additional Information:

Internationalisation

Internationalisation is embedded in the content of this module. The principles of equity and fixed income are broadly common across most countries.

Sustainability

All of the other resources for this module are available on the ELE (Exeter Learning Environment).

Employability

In this module students will learn skills that are transferable and relevant for jobs in investment banks, corporate finance and many other industries. This module also provides a good foundation for students interested in taking CFA level I exam.

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BUS3002: Business School Industrial Experience

Summary:

This module allows you to undertake and to learn from an extended work placement during the third year of a four-year With Industrial Experience WIE' programme. To progress to this module, you will have completed the employability modules BSD1002 and BSD2002 in your 1st and 2nd year, and will have secured a suitable (33 week minimum) placement which has been approved by the Business School.

Having developed the career management skills necessary for a competitive graduate labour market, this is an invaluable opportunity to put the theory learned into practice in the workplace and to focus on your professional skills development.

Throughout your 'industry' year, you will receive guidance from an academic 'WIE tutor' and the Careers team, who will support and encourage you to fully maximise the developmental opportunities provided by your work experiences. Your personal development will also be supported through the completion of an assessed placement 'WIE PORTFOLIO', submitted in stages as you advance through your placement year.

Additional Information:

Internationalisation

You can undertake a work placement in the UK or elsewhere in the world. Overseas placements will be considered on a case-by-case basis.

External Engagement

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BUS3000A: Year Abroad (Study and Work Placement)

This module is for undergraduate Business School students to study and work abroad in their 3rd of 4 years on the 'With Year Abroad' programme. With this module you can spend one semester studying at a European or non-European partner institution and 6 months' work placement abroad in a country of your choice.

An important element of international business is for you to understand the political, economic, and cultural differences between countries. By studying at another university and undergoing a work placement abroad as part of your degree programme, you will learn to think globally and come to understand how the world is interconnected through business. Adding an international component to your business degree, which may or not include learning of a foreign language, will make you more competitive in today's multicultural, global business environment. You will also have access to a range of modules, potentially in areas not offered at Exeter, taught in a different learning culture and therefore broadening your overall academic experience.

The module introduces you to the experience of academic study outside the UK, and, for some of you, a different language. It aims to challenge preconceptions and assumptions about higher education learning by exposing you to a different approach to academic study.

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BUS3000B: Year Abroad (Study)

This module is for undergraduate Business School students to study abroad in their 3rd of 4 years on the 'With Year Abroad' programme. With this module you can spend an academic year at one of the Business School's European partner institutions, a partner institution outside of Europe, or combine one semester study at a European and one semester at a non-European partner institution

An important element of international business is for you to understand the political, economic, and cultural differences between countries. By studying at another university as part of your degree programme, you will learn to think globally and come to understand how the world is interconnected through business. Adding an international component to your business degree, which may or not include learning of a foreign language, will make you more competitive in today's multicultural, global business environment. You will also have access to a range of modules, potentially in areas not offered at Exeter, taught in a different learning culture and therefore broadening your overall academic experience.

The module introduces you to the experience of academic study outside the UK, and, for some of you, a different language. It aims to challenge preconceptions and assumptions about higher education learning by exposing you to a different approach to academic study.

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BUS3000C: Year Abroad

This module is for undergraduate Business School students to work abroad in their 3rd of 4 years on the 'with Year Abroad' programme. To progress to this module, you would have completed BSD2005 and would have found a suitable placement abroad (outside of UK) for a minimum of 24 weeks and a maximum of 33 weeks.

An important element of international business is for you to understand the political, economic, and cultural differences between countries. By undergoing a work placement abroad as part of your degree programme, you will learn to think globally and come to understand how the world is interconnected through business. Adding an international component to your business degree, which may or may not include learning a foreign language, will make you more competitive in today's multicultural, global business environment.

The module assessment is designed to give you the opportunity to present and evaluate the knowledge and skills that you have developed and gained while on your year abroad work placement.

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BEA3018: Advanced Corporate Finance

Note: cannot be taken with BEE3059 Asset Pricing or BEA3008 Finance for Managers

This module provides a thorough treatment, grounded in the academic literature and pertinent for the practitioner, of the following key financial questions which are faced by the investors and managers of firms - are capital markets efficient (to what extent); how should an investment portfolio be constructed; how to price options; how to use financial derivatives to manage commodity, interest rate and foreign exchange rate risks; how to evaluate merger and acquisition deals.

Additional Information:

Internationalisation
The content of this module takes an international perspective, particularly when considering the financial market, mergers and acquisitions and the foreign exchange rate risks.

External Engagement
This module content meets the standards and is accredited by major accreditation bodies, including the ACCA, ICAEW, ICAS and CIMA.

Employability
Students acquire knowledge in this module, including a solid understanding of basic financial theory, which is highly relevant to jobs related to finance and accountancy. This module also offers an opportunity to develop their numeracy and logical thinking skills.

Sustainability
All of the resources for this course are available on the ELE (Exeter Learning Environment).

View an example full module specification

BEA3026: Financial Modelling

Summary

This module equips you with the knowledge and tools to implement financial models using Excel. The module covers a range of topics in finance drawn from investment analysis, corporate finance, fixed income analysis, risk measurement and international finance. The emphasis of the module is on the practical application of finance theory, with lectures on each topic followed by in- depth practical classes, in which you will work through real world problems using Excel.

Additional Information:

Employability

This is an applied module that covers the implementation of quantitative financial models that are widely used in financial institutions such as investment banks, mutual funds and hedge funds, and in non-financial corporations.

Internationalisation

The content of this module is relevant to the finance industry in an international setting, with examples drawn from a number of global financial markets. The international aspects of finance are explicitly addressed through the modelling of exchange rates.

Sustainability

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BEA3028: Sustainable and Responsible Finance

Sustainable finance integrates environmental, social and governance (ESG) criteria into financial decisions. This module will introduce students to the latest development of theory and practice in sustainable and responsible finance. Students will develop an understanding of the principles underlying sustainable and responsible decision-making in finance, their theoretical underpinning, and the guidelines on how to apply them in business and investment practice. The module is based on evidence from rigorous academic research. The teaching is organised in the form of weekly lectures and workshops.

• To introduce students, through research-led teaching, to cutting edge theory and practice in sustainable and responsible finance.
• To develop a critical orientation towards the subject matter and an understanding of how the principles are applied in practice.
• To enhance student employability through engaging students in the latest development in sustainable and responsible finance and their implications for business and investment practice.

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BEE3032: Futures and Options

This module will cover the basic properties, pricing and hedging of futures/forwards, options, swaps and other derivatives traded on financial markets, together with the working mechanism of the derivative markets. The module provides analytical and numerical methods to price derivatives contracts. The module covers the use of derivatives in hedging and managing financial risk but also their limitations in connection with stock market crashes and 2007 financial crises.

Additional Information:

Internationalisation

This module covers a wide range of topics providing necessary tools and knowledge applicable to international financial markets.

Employability

In this module, you will acquire confidence and basic skills necessary for working in finance industry worldwide.

The aim of the module is to provide an in-depth study of the use of futures and options with particular reference to the risk management and hedging. Both from a theoretical and empirical perspective the module will also cover in detail why futures and options are used, the mechanics of using futures and options, the economic benefits of using futures and options as risk management instruments and the pricing of futures and option contracts. The material covered here will be relevant to understand and critically evaluate the use of futures and options in different markets.

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BEF3009: Financial Institutions' Risk Management

This module examines the role of risk management within modern financial institutions, focusing on how risks arise, interact, and are managed in increasingly complex and regulated financial systems. It introduces students to the key categories of financial risk, including credit risk, market risk, liquidity risk, operational risk, and regulatory risk, and explores how these risks can affect institutional performance and financial stability. Students will engage with the conceptual foundations and practical tools used by financial institutions to identify, measure, monitor, and manage risk exposures. Emphasis is placed on widely used risk management frameworks, governance structures, and control mechanisms adopted across the banking and financial services sector. The module also considers the role of regulation and supervision in shaping risk-taking behaviour and promoting systemic resilience. In addition, the module encourages students to reflect on sustainable and responsible decision-making, highlighting how sound risk management contributes to long-term value creation and financial stability. Through analysis of real-world case studies, students will evaluate how risk management practices operate in practice, including examples of both effective risk mitigation and failures. By the end of the module, students will have developed a structured understanding of how financial institutions manage risk in practice and will be able to assess risk management strategies in a dynamic financial environment critically.

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BEF3010: Applied Finance Project

This is a capstone module that provides you with the opportunity to integrate and apply the academic knowledge, analytical techniques and professional skills developed throughout your degree to a range of real-world finance challenges. You will engage with contemporary issues in finance through structured applied projects, case studies and industry-informed problem scenarios aligned to different finance pathways.

You will work within themed project streams and complete a sequence of applied tasks that progressively develop your ability to frame financial problems, analyse qualitative and/or quantitative information, and communicate evidence-based solutions to professional audiences. Guest lectures and applied workshops will expose you to current industry practice and emerging trends in the global financial services sector.

The module emphasises employability, critical thinking, ethical awareness and digital fluency, while ensuring inclusivity for students from different disciplinary pathways. By the end of the module, you will have produced a portfolio of applied outputs demonstrating capstone-level achievement and work-readiness.

This module aims to:

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BEE3070: Economic Analysis and Pandemics

This module will focus on the economics of pandemics, from the past (e.g. the 1918-19 influenza) to the present (Covid-19) and the future. You will not only learn about traditional economic and public policy approaches to valuing lives, livelihoods and externalities, but also less traditional approaches such as measuring well-being, ethical trade-offs, interactions between ecological and economic systems and how to discount an uncertain future. Although the module focuses mainly on pandemics, its framework can also be applied to the economic analysis of other phenomena such as infectious diseases,nequality and climate change.

This module aims to provide you with an understanding of how economists analyse global social issues that cross sectoral boundaries, with a particular emphasis on public health and infectious diseases. You will be able to separate first-order effects from lower priority considerations, and to apply economic reasoning to difficult problems which raise methodological, political, and normative / philosophical issues. The goal is not to produce a single correct answer to any given question, but to appreciate and be transparent about what data or other inputs are needed and what conclusions are likely to follow from various sets of assumptions or priorities. This will be accomplished through a mix of readings, lectures, tutorial discussions and small-group projects with presentations.

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BEE3110: Blockchain, Money and Disruptive Payment Systems

This module will provide you with a comprehensive understanding of the history and nature of money; blockchain; and the current evolution of disruptive payment systems. On completion of the module, you will be better informed, not just on how blockchain technology and payment systems work, but also their potential transformative consequences.

To address this large and growing topic, the module consists of three overlapping areas: the history and nature of money and payment systems; blockchain technology starting with Bitcoin; and comparison of disruptive payment systems in emerging economies (including M-Pesa) with other developments such as Central Bank Digital Currencies (CBDCs), Stablecoins and tokenised bank deposits.

The assessment structure on this module is subject to review and may change before the start of the new academic year. Any changes will be clearly communicated to you before the start of term and if you wish to change module as a result of this you can do so in the module change window.

Module aims - intentions of the module

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