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ING AN" #INANCE P$ea%e note& This specification provides a concise summary of the main features of the programme and the learning outcomes that a typical student might reasonably be expected to achieve and demonstrate if full advantage is taken of the learning opportunities that are provided. More detailed information on the learning outcomes, content and teaching, learning and assessment methods of each module can be found in Module Specifications and other programme documentation and online at The accuracy of the information in this document is reviewed by the niversity and may be checked by the !uality "ssurance "gency for #igher $ducation. "warding body/institution% Teaching institution 'if different(% )etails of accreditation by a professional/statutory body% *ame of the final award% +rogramme title% /"S code% )ate at which the programme specification was written or revised. MSc ,slamic $conomics, -anking and .inance */" 0anuary 1223 &oughborough niversity

'( Aim% of t)e programme To provide a firm knowledge of the working of the ,slamic economic system, with particular emphasis upon the theory and practice of ,slamic banking and finance. To provide an intellectually stimulating environment in which students can develop their knowledge, understanding and analysis of financial markets, institutions and systems operating around the globe. To e4uip students with appropriate tools of analysis to allow them to tackle the contemporary issues and problems facing the international banking and financial community. To provide a firm foundation of knowledge about the workings of domestic and international financial markets, institutions and systems, and of recent developments in central banking and regulatory practices around the world.

To develop in students the ability to apply the knowledge and skills they have ac4uired to the solution of theoretical and applied problems in banking and finance. To develop in students a range of transferable skills that will be of value in employment and self employment. To provide specialised knowledge and training relevant to the financial services industry. To provide students with the knowledge and research skills base from which they can proceed to further studies in allied fields and consultancy. *( Re$e+ant %,-.ect -enc)mar/ %tatement% an0 ot)er e1terna$ an0 interna$ reference point% ,%e0 to inform programme o,tcome% The MSc in ,slamic $conomics, -anking and .inance is intended for students who can demonstrate prior knowledge of economics, banking or finance at the level of a 5oint honours degree from a recognised 6 niversity. " variety of international 4ualifications is recognised as meeting this standard, as detailed in section 7 below. The academic level at which the MSc programme is taught and assessed is guided by the criteria for the degree of Master in The Framework for Higher Education Qualifications in England Wales and Northern Ireland , published by the !uality "ssurance "gency for #igher $ducation, 0anuary 1228. This document is to be found at The MSc programme conforms to the &oughborough niversity standards and codes of practice in teaching and teaching support as described by the University Learning and Teaching trategy document, to be found at )epartmental learning and teaching policies. &inks both formal and informal with external examiners. Staff research specialism and professional involvement in the discipline. 2( Inten0e0 Learning O,tcome% !no3$e0ge an0 Un0er%tan0ing& ;n successful completion of this programme, students should be able to demonstrate knowledge and understanding of: the operations of financial markets, institutions and systems around the globe% operations of financial markets, institutions and systems within an ,slamic system% recent developments in central banking and regulatory practices around the world, with particular emphasis upon ,slamic practices% recent trends and developments in domestic and international commercial banking% the relevant 4uantitative methods and computing techni4ues necessary to allow for formal analysis of the above<mentioned material% research methodologies relevant to the conduct of the dissertation. 2

Teac)ing $earning an0 a%%e%%ment %trategie% to ena-$e o,tcome% to -e ac)ie+e0 an0 0emon%trate0& &earning and teaching is provided through lectures, seminars, computer< based laboratory workshops, group work, case studies, web<based guided study and guided independent work. /ontact and feedback is typically provided through pro5ects/dissertations, coursework assessment 'e.g. essays, tests, etc.(, lectures, seminars, computer<based laboratory workshops, group work, web<based guided study/self tests, guided independent study, and one<to<one contact with staff within the personal tutoring system 'each +rogramme )irector acts as personal tutor to all students registered on that +rogramme( and through office hours with module lecturers. The +rogramme contain a mix of core and optional modules, and all students have to take =esearch Methods or Mathematical and $conometric Methods to help prepare them for the dissertation stage of the +rogramme. S/i$$% an0 ot)er attri-,te%& a( S,-.ect4%pecific cogniti+e %/i$$%& ;n successful completion of this programme, students should be able to: understand the recent evolution of financial markets, institutions and systems, especially with reference to ,slamic economies% understand the recent evolution in central banking and supervisory practice critically analyse the theory and practice of financial intermediation and regulation% apply research skills in theory and method to the analysis of contemporary issues in banking and finance. Teac)ing $earning an0 a%%e%%ment %trategie% to ena-$e o,tcome% to -e ac)ie+e0 an0 0emon%trate0& &earning and formal assessment of skills in research methods 'including mathematical, statistical and econometric methods(% +reparation of essays that critically review theories and application of theories in banking and .inance% Either! preparation of a dissertation that re4uires analysis of an issue in banking and/or finance, formulation of a research 4uestion, synthesis of relevant historical and current academic and professional literature, and either implementation of original empirical work or critical appraisal of published empirical work% "r! formal examination of specialist knowledge and research skills attained through research activities that re4uire analysis of an issue in banking and/or finance, formulation of a research 4uestion, synthesis of relevant historical and current academic and professional literature, and either implementation of empirical work or critical appraisal of published empirical work. Such research activities to be monitored through =esearch +ractice Seminars. -( !e56tran%fera-$e %/i$$%&

;n successful completion of this programme, students should be able to demonstrate the key skills of: analysis and decision<making% communication numeracy% ,T 'e.g. handling and retrieval of information data analysis using statistical packages, use of the ,nternet, use of library>s on<line systems(% independent<study and group work% independent 'albeit guided( research% and time management. Teac)ing $earning an0 a%%e%%ment %trategie% to ena-$e o,tcome% to -e ac)ie+e0 an0 0emon%trate0& The skills listed above are developed heterogeneously throughout the modules of the +rogramme. .or example, the =esearch Methods module focuses on numeracy, ,T and research skills, whereas the other 'especially the core( modules help develop communication skills, analysis and decision< making skills, and independent study, group work and time management skills. The dissertation module helps develop all of the above<mentioned skills 'bar group work(. "ssessment of key skills is embedded in module assessment, 'via coursework and formal end of module examinations. /oursework feedback is given to help students assess and review their grasp of sub5ect<specific knowledge and sub5ect<specific and key/transferable skills. 7( Programme %tr,ct,re% an0 re8,irement% $e+e$% mo0,$e% cre0it% an0 a3ar0%& The +rogramme is normally offered on a full<time basis, commencing at the beginning of each academic session and running for a minimum of twelve calendar months. The +rogramme comprises ? taught modules, 3 being taken in each of the first two semesters, and a )issertation or two =esearch +ractice Seminars, undertaken under the supervision of a supervisor appointed by the )epartment of $conomics. $ach taught module carries a modular credit weight of 87, the )issertation carries a weight of @2 and its alternative two modules on =esearch +ractice Seminar carry a weight of A2 each. The taught modules comprise both compulsory and optional modules as set out below: Semester 8 a( Comp,$%or5 Mo0,$e% '/ombined Modular weight of 37( Co0eTit$e Mo0,$ar 9eig)t $/+818 ,slamic $conomics 87 $/+811 The .inancial System 87 $/+12? =esearch Methods 87

$/+12B 87 b(

;= Mathematical and $conometric Methods

Optiona$ Mo0,$e 'Total Modular weight of 87( ;ne module to be chosen from a list published by the )epartment of $conomics in September of each year Semester 1 a( Comp,$%or5 Mo0,$e% '/ombined Modular weight of 37( Co0e Tit$e Mo0,$ar 9eig)t $/+111 -anking and .inancial Markets 87 $/+11A /omparative -anking 87 $/+818 ,slamic -anking and .inance 87 b( Optiona$ Mo0,$e '/ombined Modular weight of 87( 8 module with a modular weight of 87 each to be chosen from a list published by the )epartment of $conomics in 0anuary of each year

Summer +eriod Either )issertation of between 82,222 and 12,222 words, on a topic from banking and finance 'broadly defined(. Or .ormal examination of Specialist 6nowledge and =esearch Skills attained through participation in two =esearch +ractice Seminars. :( Criteria for a0mi%%ion to t)e programme& The usual minimum entrance re4uirement is an upper second 'or e4uivalent e.g. an overall C+" score of around A.A( in a relevant degree 'e.g. economics, finance, business, etc.( from a recognised niversity. Some allowance may, however, be given for relevant career experience, although a good lower second 'or its e4uivalent( would still be the minimum re4uirement. ,nternational students are also re4uired to satisfy a minimum $nglish language re4uirement 'i.e. a @.7 overall ,$&TS score, or a @22 '172 new system( overall T;$.& score. =eferences are routinely taken up. .ull details of relevant admissions information 'including international admission re4uirements( can be obtained by sending a re4uest for information to +rogramme "dministrator, Mrs Susan Simmons: Tel 2872B 111E17 or .ax 2872B 11AB82. ;( Information a-o,t a%%e%%ment reg,$ation%&

Fith the exception of the module Financial #arket Trading, assessment for the taught modules is by coursework 'essay, class test or other assignment( and a two<hour formal examination. The coursework and examination are weighted by 17G and E7G respectively in calculating the total module mark. The module Financial #arket Trading has a higher practical component and has a different assessment structure, being weighted 72G by coursework and 72G by formal examination of one<and<a<half hours Students take 3 modules in each of the two semesters, with a modular weight of 87 credits each. The dissertation is prepared in the summer period and carries a modular weight of @2 credits. The $ecialist u%&ect 'nowledge and (esearch kills modules are examined at the end of the Special "ssessment +eriod in the summer and are each worth A2 credits. ,n order to gain credit for a module, students must achieve a pass mark of 72G. Ma%ter of Science& awarded if 872 credits are accumulated and a module mark of at least 32G is awarded in further modules with a combined weight of than A2 credits. Lo,g)-oro,g) Po%tgra0,ate "ip$oma& awarded if 827 credits are accumulated and a module mark of at least 32G is achieved in an additional module with a weight of 87 credits. Lo,g)-oro,g) Po%tgra0,ate Certificate& awarded for the accumulation of @2 modular credits. Re4a%%e%%ment Students who fail a module or the dissertation may be re<assessed on one occasion only. This can be at the next normally available opportunity or during the niversity>s Special "ssessment +eriod in "ugust/September each year, at the discretion of the student. =e<examination of the A2<credit modules $ecialist u%&ect 'nowledge and (esearch kills is undertaken not later than three weeks before the MSc +rogramme -oard each year. <( In0icator% of 8,a$it5& The )epartment of $conomics scored a near<perfect 1A out of a possible 13 points in the recent '1228/1221( $xternal Sub5ect =eview for $conomics. &oughborough niversity ranked among the very best institutions for teaching 4uality. =( Partic,$ar %,pport for $earning& T)e Career% Ser+ice& The /areers Service provides support and advice for students seeking careers guidance and help with 5ob<searching techni4ues, together with a library of careers resources, careers fairs, employer presentations, management and skills courses and a comprehensive website containing vacancies and information. ,n the 6 Craduate /areers survey, sponsored by the Times *ewspaper, &oughborough niversity /areers Service was rated

as one of the most impressive with over ?2G of students rating it as good or excellent. The service has also been identified by employers as the amongst the top ten #igher $ducation careers services in the 122A "ssociation of graduate =ecruiters/-arkers survey. Li-rar5& The niversity &ibrary provides advanced support for learning in a purpose< built building and electronically via the web. ,t is open for upwards of ?2 hours per week during semester and holds a stock of more than half a million volumes and an extensive serials collection. *umerous +/ workstations '822H(, networked printing facilities and self<service photocopiers are also available. The &ibrary is a designated $)/ '$uropean )ocumentation /entre(. The &ibrary catalogue is available on<line, as are electronic versions of reading lists. ;ver 8?2 sub5ect<specific electronic databases can be accessed by users both on campus and elsewhere. The &ibrary organises induction sessions for first year students and librarians can provide flexible training for students and researchers throughout their time at &oughborough. ser support is also available from the &ibrary information desks, via printed and online guides and through a series of I&unchtime in the &ibrary> and other training sessions. There are a variety of study environments in the &ibrary, including individual and group study desks, private carrels and group study rooms. Comp,ting Ser+ice%& /omputing Services provides the niversity ,T facilities and infrastructure. Ceneral purpose computer resources across campus are open 13 hours and more specialist computer laboratories are provided in partnership with departments. Students in halls of residence are supported in connecting their computers to the high speed network. The niversity>s virtual learning environment J&$"=*K provides on and off campus access to web<based teaching materials provided by lecturing staff. Profe%%iona$ "e+e$opment +rofessional )evelopment '+)( provides continuing professional development and support in teaching and a wide range of other areas. *ew lecturers attend a personalised programme of +) courses and, in the final year of probation, !uality $nhancement assesses their teaching through direct observation and a portfolio. "ccreditation for this process has been awarded by the ,nstitute for &earning and Teaching ',&T(. +) works directly with staff who wish to develop more effective teaching and learning methods L including the area of learning technologies L and provides resources to support the learning skills development of students.

;ther development opportunities are provided in institutional strategic priority areas and in response to discussions with departments in the context of their needs. Co,n%e$$ing Ser+ice an0 Eng$i%) Lang,age St,05 Unit& The /ounselling Service and $nglish &anguage Study nit are able to support individual students in resolving problems and in improving communication skills for international students.

Mat)ematic% Learning S,pport Centre& The /entre, which is based in the )epartment of Mathematical Sciences, provides a range of services designed to support any undergraduate student in the niversity in their learning of mathematics. ,n particular it aims to help students in the earlier stages of their studies who might benefit from resources and tuition over and above that normally provided as part of their course. "i%a-i$itie% > A00itiona$ Nee0% Ser+ice& The )isabilities and "dditional *eeds Service')"*S( offers support for students and staff including: advice both on matters relating to the Special $ducational *eeds and )isabilities "ct 'S$*)"(% adaptation of course materials into -raille/large print/tape/disk/other formats% organising mobility training% -S& interpretation% provision of communication support workers% note takers in lectures/tutorials% assessment of specific support, e4uipment and software needs% individual/small group tuition for students who have dyslexia, representing students> needs to academic and other niversity departments% organising adapted accommodation to meet individual needs% helping to organise carers to meet any personal care needs% organising appropriate support for students who have a mental health problem. )"*S has links with the =*,- Mocational /ollege, )erby /ollege for )eaf +eople and the *ational "utism Society to offer effective support to students at the niversity. ,t regularly takes advice from other national and local organisations of and for disabled people. Fhere a student has complex support or accommodation needs, contact with )"*S is strongly advised prior to application. ?( Met)o0% for e+a$,ating an0 impro+ing t)e 8,a$it5 an0 %tan0ar0% of $earning& The niversity has a formal 4uality procedure and reporting structure laid out in its "cademic !uality +rocedures handbook, available online at: and directed by the +ro<Mice</hancellor 'Teaching(. $ach .aculty has an "ssociate )ean for Teaching responsible for all learning and teaching matters. .or each .aculty there is a )irectorate 'responsible for the allocation of resources( and a -oard 'responsible for monitoring 4uality issues within each department(. Support is provided by the +rofessional )evelopment nit and the !uality $nhancement nit. Student feedback on modules and programmes is sought at regular intervals, individual programmes are reviewed annually, and )epartments review their full portfolio of programmes as part of a +eriodic +rogramme =eview 'every five years(.

Minor changes to module specifications are approved by the "ssociate )ean 'Teaching( on behalf of the .aculty -oard, and ratified by the niversity /urriculum Sub</ommittee in accordance with the niversityNs 4uality procedures. Ma5or changes are formally considered by the niversity /urriculum Sub</ommittee. "ll staff participate in the niversityNs staff appraisal scheme, which helps to identify any needs for staff skills development. -oth probationary staff and those seeking promotion to Senior &ecturer are sub5ect to a formal teaching evaluation scheme, administered by the !uality $nhancement nit and accredited by the ,nstitute for &earning and Teaching.