MASTER OF BUSINESS ADMINISTRATION IN CORPORATE FINANCE

CONTENTS

1. Course Structure and Content.

2. Aims and Objectives.

3. Entry Requirements.

4. Teaching and Learning Methods.

5. Methods of Assessment.

6. Assessment Regulations for Students Entering in the Academic Year 1999/2000.

7. Supervision and Cohorts.

1. Course Structure and Content.

The Course is designed to be completed within twenty-two months by a student devoting ten to twelve hours a week, working by distance learning. A student wishing to take a longer period to complete the Course will be entitled to do so, provided that he/she completes the requirement for the Course within thirty-six months.

Candidates will normally join the Course at one of four entry points during the year: Autumn Semester - October and January. Spring Semester - April and July. They will be assigned to a supervisor and to a cohort of students.

The Course currently consists of ten modules. In order to achieve a pass, a Candidate must satisfy the examiners in each module of the Course. The University reserves the right to vary the number and nature of the modules examined. Currently, they are:

a. The notion and the dynamics of value,
b. Corporate finance and risk,
c. Capital Budgeting,
d. Market efficiency and financial decision making,
e. Capital structure and dividend policy,
f. Options for corporate finance,
g. Financing debt,
h. Financial planning,
i. Advanced topics in corporate finance,
j. Dissertation,

2. Aims and Objectives.

The aim of the Course is to expose the student to the current best practice as it relates to the disciplines outlined in A to I above. Its centre of gravity is the role of corporate finance in business decision making. As such, it does not seek to produce experts in any of the fields studied. Rather, it seeks to ensure that the student is equipped with the understanding of these disciplines required by an aspiring manager who needs a comprehensive overview of the way in which financial decisions are made. As such it is suitable for both the general manager or for the specialist who seeks to move to a senior position requiring a greater understanding of the dynamics of corporate financial decisions.

3. Entry Requirements.

The usual minimum requirements for entry to the Course are as follows:

A first degree in any discipline,
or,
Membership of a professional body whose qualification may be deemed to be the equivalent of a degree,
or,
The possession of a Diploma in Management Studies or its equivalent.

Candidates will normally have attained the age of twenty-eight years and have a minimum of four years' experience in managerial employment. All candidates will be expected to show a proficiency in the English language.

Each application will be considered on its own merits, however, admission to the Course and all interpretations as to the eligibility for such admission remain at the discretion of the University.

4. Teaching and Learning Methods.

The delivery of the teaching for Course is by distance learning. The material is designed to give the student maximum flexibility as to the pace of learning. Course materials will consist of Topic Lists, Software Teaching Packages, detailed directed reading from set texts, reading lists covering background material, Progress Assessment Tests.

Topic Lists. These will be a summary of the topics or sub-sections that are to be covered in the relevant module. They will include a summary of the topics covered under the module teaching, KEY LEARNING POINTS, (KLPs) and the names of theorists or writers associated with KLPs.

Text books. The second major element of teaching for the Course is the Text Book. These will be provided as part of the provision of teaching material. Because of the likely circumstances of students, studying away from access to major libraries, effort has been made to concentrate teaching upon the standard classic texts module that provide a sufficient coverage of the topics dealt with in the Course. Students will be directed to the relevant portions of each text, in the order that these should be tackled against each topic heading in the appropriate sequence.

Background Reading. A list of general texts, relating to each module will also be presented to the student for further reading, either during the Course or for follow up work.

Progress Assessment Tests, (PATs). A further component of the learning will be the PATs. These will normally take the form of a series of complex multiple choice questions, designed to test the student's grasp of the major concepts of each module. While they will necessarily be of an "open book" nature, they will require the student, not only to research the literature of the subject presented but to demonstrate understanding and discrimination. While the results of the PATs will not count towards final assessment, and may thus be seen as "non-punitive", a student will be required to have achieved a satisfactory pass,(see Section 5 - Assessment Regulations), in the relevant PATs for each module, before being allowed to tackle the minor and major assignments for that module.

Assignments. The requirements of this element of the Course are dealt with in detail in Section 5 - Assessment Regulations. In terms of the teaching philosophy of the Course, the following outlines apply. The assignment, for each module, will be designed to allow the student to demonstrate a grasp of the basic principles of the main elements of that module. As such, the type of question set will draw upon detailed knowledge as to fact and practice. The aim here is to reinforce and test knowledge. Some assignments, on the other hand, will be in the form of a "portmanteau" question, such that will require the student to demonstrate an awareness of the role that the topics covered in the relevant module play in the wider context of centre of gravity of the Course, namely, THE NATURE OF CORPORATE FINANCIAL DECISION MAKING. The reinforcement and testing here is concerned with the use of knowledge to form the basis of an integrated and critical approach the matter presented.

5. Methods of Assessment.

Each student will be examined in all modules of the Course - A through I and the MINIMUM PASS (Grade "C" - 50%), must be achieved in each module. There are no traditional "three hour" examination papers, although students will be required to satisfy the examiners as to their suitability to proceed to the assessment stage of each module by satisfactory performance at the Progress Assessment Test, (PAT) stage. A failure at this stage may be retested on up to two subsequent occasions.

Over and above this requirement, all students will be required to submit a short introductory paper, based upon guided reading, which will assess their capability to deal with later work. A student who fails to attain a satisfactory standard in this paper will receive the appropriate guidance before being invited to proceed with the main body of the Course.

The assessment for the Course will consist of two elements - A Portfolio of Assignments and the Dissertation. The Portfolio will account for 70% of the final Grade for the Course. The Dissertation will account for 30%. Each of these will be presented to the University for formal assessment, in the form of separate volumes, (two copies of each), typed and bound according to the University's current regulations.

The Portfolio of Assignments will consist of a selection of assignments of the student's choice. Despite this regulation, students will be required to have achieved MINIMUM PASS on the average of the assignments as submitted for EACH module. This minimum to pass a module, (see below), is an average of Grade "C" (50%).

The Portfolio will consist of any seven assignments of the student's choice. It is expected that students may wish to amend previously submitted assignments to reflect Supervisors' comments. It must be noted, however, that Supervisors will offer only one set of criticisms for any given assignment that achieves a minimum pass mark. No further advice will be offered for an assignment that is to be included in the Portfolio. Assignments for each module will consist of a submission of not less than 3500 words and not more than 5000 words in which the student's factual grasp of the teaching of the module is tested.

The Dissertation is seen as the student's opportunity to apply the subject matter of the Course to the REAL WORLD interest of his or her experience. As such, it will be a negotiated process between student and Supervisor, in which the former offers suggestions for possible detailed study for "tailoring" to meet the dual needs of academic rigour and the student's personal objectives. Here, suffice it to say that the Dissertation will be written on a topic, agreed between Supervisor and student, that will be worthy of the attraction of 30% of the overall marks for the Course and will be between 15000 and 20000 words in length, (excluding bibliography and appendices). While the Supervisor will offer help on the formulation and execution of the Dissertation, once the Dissertation is submitted, it WILL be taken as the final submission.

6. Assessment Regulations for Students Entering in the Academic Year 1999/2000. (Extract from General Regulations).

i. In order to be eligible for the award of the appropriate qualification a candidate must make the submissions as required by the relevant Definitive Course Document within the prescribed time limit - IN THIS CASE, THIRTY-SIX MONTHS - subject to any extension granted.

ii. The Examiners shall have the right to award a mark of DISTINCTION to a student who has shown exceptional merit in the examination process.

iii. A candidate for examination may, for reasons adjudged adequate by the University, be exempted from any part of the normal examination or assessment procedure.

iv. If an essay or report is otherwise adequate but requires minor amendment, such amendment may be made, within six weeks of notice to the student.

v. The marking scheme of the University sets the pass mark for the Course at C = 50%. The mark for DISTINCTION is A = 70%. The range of marks is as follows: A, B+ B, B-, C+, C, C-, D+, D.

7. Supervision and Cohorts.

The University is aware of the need to provide first rate supervision to students, given the fact that they are working in a distance learning mode. Each cohort of students, joining the Course at a given entry point - will be allocated a Supervisor who is either an experienced academic or proven practitioner in the field Corporate finance. He or she will be the students' guide through the Course.

Distance learning can be a difficult and isolating experience, and it is proposed that each cohort of students should receive a list of its peers. These will be people who are undergoing the same stresses and strains. They will be facing the same problems and the same assignment difficulties at a similar time. Rather than feeling isolated, it is the University's hope that students will wish to join with others to share their experiences in a fellow feeling of a community. Unless an individual student wishes to maintain anonymity, each Cohort of students will be given a list of their peers, in the hope that the over all standard of their work, their performance on the Course and, above all, their experience as a student is enhanced.

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