Political Economy of Finance (5 cr)

Objective

Upon completing this course the student will:
- Understand the main elements of the global financial system
- Understand the significance of corporate governance regimes
- Comprehend different approaches to corporate governance
- Understand the role of financial regulation

Content

Corporate governance: theory and practice, international comparisons, economic performance
Banking and finance: securities and instruments, banking regulation, the “shadow finance” system, central banking
Theory of financial markets: modern finance vs. behavioural finance; understanding the social origins and economic consequences of recent and current financial innovation; the role of the state

Location and time

Mondays, 11:00 - 14:00 in room MMA219, Myyrmäki campus

Materials

Rana Foroohar, "Makers and Takers: The Rise of Finance and the Fall of American Business", New York: Crown Business, 2016

Other reading materials will be distributed in advance of each lecture

Teaching methods

All lectures and assignments will take place in class, unless otherwise instructed.

Discussion is encouraged, and we will use the discussion forum provided in the OMA workspace to continue classroom debate.

Employer connections

This course is suitable for those considering a career in

- Finance
- Strategic management
- Risk management
- Socially responsible business

Exam schedules

The course runs for the entire semester.

Precise dates of each assignment will be provided in the Course Guide that is published at the beginning of the semester.

International connections

While much of the material discussed relates to developments in the USA, it is directly relevant to developments in Europe, China, Japan and South Korea, which are featured in the lecture programme.

Completion alternatives

Each lecture topic has its own reading list, in addition to the relevant chapter of Rana Foroohar's still very relevant book. There is no shortage of reading matter. In addition, the lectures feature an extensive selection of video materials, for which links are provided in the lecture slides.

Student workload

Students are expected to spend 130 hours in total on this course, of which 45 hours are lectures and in-class assignments. All topics covered are supported by an extensive selection of readings, and it is strongly recommended that students would devote sufficient time to reading and especially to the study of those topics that are of particular personal interest.

Content scheduling

In addition to the weekly lectures and final assignment, there are also 2 assignments, including an in-class test that is conducted near the end of the course. The precise scheduling of this test will be revealed nearer the time.

Further information

To gain the full benefit of the course class attendance is advised. Additional supporting materials will be provided by the lecturer, but there is no substitute for active participation.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

Sufficient performance: showing just enough understanding of the subject to merit a pass grade but requiring greater effort to achieve a more satisfactory result

Assessment criteria, good (3)

Good performance: showing strong understanding of basic concepts and good grasp of techniques, but with certain minor problems still requiring further attention

Assessment criteria, excellent (5)

Excellent performance: not only fulfils all standard requirements but demonstrates originality and imagination

Assessment criteria, approved/failed

Not applicable

Assessment methods and criteria

The grading scale employed in the course is based on the standard Metropolia grading scale:

Grade Percentage/points Explanation

5 90 – 100 Outstanding performance: not only fulfils all standard requirements but demonstrates originality and imagination

4 80 – 89 Excellent performance, fulfilling all tasks in an appropriate manner

3 70 – 79 Strong performance, showing strong understanding of basic concepts and good grasp of techniques, but with certain minor problems still requiring further attention

2 60 – 69 Good performance, demonstrating basic grasp of concepts and techniques but less adept at more advanced application of these

1 50 – 59 Adequate performance, showing just enough understanding of the subject to merit a pass grade but requiring greater effort to achieve a more satisfactory result

0 0 – 49 30 – 49: insufficient to pass but capable of achieving a more satisfactory result if greater effort is made
0 – 29: a result indicating a significant lack of effort on the part of the student, and a clear signal that major improvements are necessary in the organisation of study time

Qualifications

Core business studies