This module focuses on the crucial role finance has for economic development with particular reference to emerging countries. It is divided into two parts: part 1 ‘finance and growth’ and part 2 ‘microfinance for economic development’.
This module aims to provide students with a good knowledge of the nexus of finance and development and the importance of microfinance in particular for emerging and developing countries. In order to fully appreciate the dynamics of these economies, the topics covered include financial liberalisation, a review of the process of financial institution building in developing and emerging market economies and an analysis of their interactions with the global financial system. In addition, students will be able to learn about microfinance theory and practice, including products and services, risk management issues, sustainability and regulation.
On successful completion of the module, students will be able to:
• Evaluate critically the role of financial markets, institutions and international bodies in economic development in individual countries and worldwide.
• Appraise the nexus between finance and growth.
• Assess main financial risks in developing and emerging economies.
• Appraise the role of microfinance and microcredit as alternatives to banking and financial markets in emerging/developing countries.
• Demonstrate in-depth knowledge as to why financial systems need regulation and supervision and what is special about financial regulation and supervision in developing countries
Skills for Your Professional Life (Transferable Skills)
After completing this module, students have developed and improved the following employability-related skills:
• Improve your commercial awareness by investigating the current trends in development finance, especially (but not limited to) recent trends in capital flows and capital controls, evolution of financial deepening, and new challenges for emerging markets.
• Enhance your teamwork-collaboration and written communication skills through a coursework group essay
• Develop your research skills through the use of the Global Financial Development database of the World Bank.
• Improve knowledge about the formal and informal banking systems and the importance of microfinance.
• Study and analyse the growth and trends in microfinance and its impact on the developed and developing economies
- Module Supervisor: Nick Rowe