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Finance, Economy & Society

Understanding the links between the financial system and the real economy is vital. This module examines the various ways in which finance impacts on societies – by analysing financial exclusion, debt problems and selected public sector financing issues. After completing the module, you’ll have a better understanding and appreciation of the complexities and problems of financing public sector services such as the NHS and education.

What does the module cover?

You’ll gain an understanding of the importance of the financial system to the economy, society and individuals.  Learn how to synthesise and evaluate specific financial issues and make use of relevant research resources.  Realise the complexities and problems in financing public sector welfare services, and the nature of the ‘pensions crisis’, and adopt a critical approach to evaluating competing viewpoints in these areas.

More Information

Module Code:

FE3042

Key topics

  • Overview of The Real Economy, the Monetary System and the Financial System
  • The Monetary System – functions of money, its development and history
  • The Financial System – institutions, functions, players
  • Recent Developments in the Financial Services Industry
  • The Financial Sector and the real economy
  • Financial crashes, panics and manias
  • International issues – globalization and deregulation; the international interdependence of the financial system
  • Finance and the poor – finance, debt & development
  • Public sector financing issues – the NHS; The Wanless Report; methods of finance; education: funding schools and universities, loans, grants, graduate taxes, vouchers; pensions; quasi-markets

Pre-requisites

FE2028

Number of credits & study time

20 credits / 200 hours

Assessment

In addition to completing a number of formative assessments as part of your coursework, you’ll need to successfully complete a summative assessment which comes in two parts – a 3,000 word individual report on a relevant financial issue/ problem (worth 70% of your final grade), plus a one hour time-controlled assessment (worth 30%)