FINANCIAL AND BUSINESS HISTORY - 2019/0

Module code: ECO2060

Module Overview

Finance and business are crucial to the supply-side of any modern economy, and receives considerable treatment in microeconomic theory. The relevance of this theory is often tested in formal statistical models, but financial and business history also provides a vehicle for understanding the evolution of the modern economy and theories. The current module bases itself on this historical perspective, asking when various functions of modern business became important to economists and to economic performance, charting some significant subsequent developments, and emphasizing the role of technological change and innovation in shaping both organizational forms and the general business environment.

Module provider

Economics

Module Leader

GOLSON Eric (Economics)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 5

JACs code: V310

Module cap (Maximum number of students): N/A

Module Availability

Semester 2

Prerequisites / Co-requisites

None

Module content

The Industrial Revolution and the concept of the entrepreneur
The historical origins of modern management and organisational forms of business
The historical origins of financial entrepreneurs and the evolution of finance
The rise of the joint-stock company, and the origins of the corporate governance debate
The development and finance of large business corporations
The role of finance in business development and mass manufacturing
Historical analysis of government financial and industrial policy
The role of international trade in the globalisation of business

Assessment pattern

Assessment type Unit of assessment Weighting
School-timetabled exam/test CLASS TEST (1 HOUR) - SHORT ANSWER QUESTIONS 30
Examination EXAM (2 HOUR) - SHORT AND LONG ANSWER QUESTIONS 70

Alternative Assessment

Not applicable

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate
understanding of a the theories and themes of financial and business history. This foundation is extended to a consideration of the relevance of various economic concepts in the understanding of the relationship between finance, technological change and business organization, and how this relationship has differed between economies and over time. The examination extends this latter approach further, but also requires an in depth analysis of specific topics.

Thus, the summative assessment for this module consists of two units of assessment:

An in-class test (1 Hour) worth 30% of the module mark. This will consist of a choice of short answer questions.

An 2 hour examination including a short answer and long answer questions, of which students will have a choice of questions.

Module aims

  • To familiarise students with the ways in which both micro-economic and other analytical tools can illuminate our understanding of the historical development of financial markets and business

Learning outcomes

Attributes Developed
001 Display knowledge of the chronology of the development of finance and business from the Industrial Revolution to modern times CK
002 Explain the way in which technological change and innovation have helped shape the development of business and industrial organization CKT
003 Discuss the historical development of financial entrepreneurship CK
004 Comprehend the historical development of competition between different forms of business CK
005 Evaluate the role of economic and technology policy in shaping financial and business history CK
006 Display knowledge the nature of differences in the historical evolution of businesses in different economies CK
007 Display knowledge the nature of differences in the historical evolution of finance in different economies CK
008 Display knowledge of international capital markets development and regulation CKT
009 Appreciate the need to meet tight deadlines PT
010 Evaluate the role that finance plays in the development of business CK

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Overall student workload

Independent Study Hours: 123

Lecture Hours: 22

Tutorial Hours: 5

Methods of Teaching / Learning

The learning and teaching strategy is designed to: Build an appreciation of the usefulness of economic concepts in historical analysis through lectures and independent reading Allow students to communicate their knowledge of relevant economic concepts in (group) discussions effectively. The learning and teaching methods include:

-Lectures with opportunities for discussion (11x 2 hours including the class test)

-Feedback sessions with opportunity for discussion and group work (5x 1 hour)

-Online revision session

-Discussions on the discussion boards

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

Reading list for FINANCIAL AND BUSINESS HISTORY : http://aspire.surrey.ac.uk/modules/eco2060

Other information

None

Programmes this module appears in

Programme Semester Classification Qualifying conditions
Economics BSc (Hons) 2 Optional A weighted aggregate mark of 40% is required to pass the module
Business Economics BSc (Hons) 2 Optional A weighted aggregate mark of 40% is required to pass the module
Economics and Finance BSc (Hons) 2 Optional A weighted aggregate mark of 40% is required to pass the module

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2019/0 academic year.