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Financial Markets and Institutions

Unit code: BMAN21011
Credit Rating: 10
Unit level: Level 2
Teaching period(s): Semester 1
Offered by Alliance Manchester Business School
Available as a free choice unit?: N



Additional Requirements

Only available to students on: BA Econ; Mgt; IM; IMABS; IBFE, Accounting and BSc Econ. BMAN10522/10522(M) or BMAN10552 are pre-requisites of BMAN 21011.

BMAN10522 or BMAN10522(M) Financial Decision Making or BMAN10552 Fundamentals of Finance
(BMAN10552 Fundamentals of Finance must be passed at 60% or more).

Pre-requisite course units have to be passed by 40% or above at the first attempt unless a higher percentage is indicated within this course outline.

Co-requisites: None

Dependent course units: None

Overlap: BMAN23000 (students should be aware that topics such as equity and bond valuation that are discussed at some point during BMAN21011 are also part of the curriculum for BMAN23000). BMAN21011 is an optional course therefore students who have a full grasp of these subjects may wish to consider other options. A detailed course description will be made available at the beginning of the semester and students are strongly encouraged to consult it in order to make an informed choice.


The course aims to help students to appreciate and understand how financial markets and institutions operate. It introduces financial institutions and other market participants, their roles in the financial system and the ways they interact with each other. A second and equally important objective is to help students to understand commonly used financial instruments and how they work.


Introduction to the financial system, financial claims, financial intermediaries, banking, financial markets, equity market, bond market, hedge funds and private equity, derivatives (futures), central banking etc.

Teaching and learning methods

2 hours of lectures per week for 10 weeks

Five workshop sessions will be arranged outside of lectures.

Total study hours: 100 hours split between lectures, classes, self study and preparation for classes, coursework and examinations.

Informal Contact Methods
1. Office Hours
2. Online Learning Activities (blogs, discussions, self-assessment questions)

Learning outcomes

By the end of the course, students should be able to:

a) describe the role and structure of the financial system;
b) explain key concepts such as financial claim, financial intermediation and financial market;
c) discuss theories on financial markets and institutions that help explain phenomena such as adverse selection and moral hazard;
d) explain the concepts and functions of different types of financial instruments.

Specific learning outcomes will be provided for each topic.

Assessment Further Information

1.5hr written examination (100%)

For semester 1 only exchange students admitted via the Alliance Manchester Business School International Office that take this course as BMAN20601 the assessment will be a 2000 word essay (100%).


Recommended reading

Recommended reading

Buckle, M. and J. Thompson (2004), The UK Financial System. Theory and Practice, 4th ed., Manchester: Manchester University Press. B&T

Glen Arnold (2012), Modern Financial Markets and Institutions: a Practical Perspective, Harlow: Pearson.



Feedback methods

Methods of Feedback to Students
• Informal advice and discussion during a lecture, seminar, workshop or lab.

• Online exercises and quizzes delivered through the Blackboard course space.

• Responses to student emails and questions from a member of staff including feedback provided to a group via an online discussion forum.

• Written and/or verbal comments on assessed coursework.

• Generic feedback posted on Blackboard regarding overall examination performance.

Study hours

  • Assessment written exam - 1.5 hours
  • Lectures - 20 hours
  • Seminars - 5 hours
  • Independent study hours - 73.5 hours

Teaching staff

Ning Gao - Unit coordinator

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