Module title: Behavioural Issues in Finance

SCQF level: 09:
SCQF credit value: 20.00
ECTS credit value: 10

Module code: FIN09106
Module leader: Paul Gallacher
School The Business School
Subject area group: Accountancy Finance and Law
Prerequisites

There are no pre-requisites for this module to be added

2019/0, Trimester 2, Face-to-Face, Edinburgh Napier University
Occurrence: 001
Primary mode of delivery: Face-to-Face
Location of delivery: CRAIGLOCKHAR
Partner: Edinburgh Napier University
Member of staff responsible for delivering module: Paul Gallacher
Module Organiser:


Learning, Teaching and Assessment (LTA) Approach:
Learning and teaching methods including their alignment to LOs
Directed study tasks require students to read journal articles on the topics covered in each of the LOs (1-6) for discussion and debate during tutorials. Students will be introduced to the main issues during the lectures. They are expected to be actively involved through their reading for tutorials and subsequent input to them and through preparing for and producing their presentation.

Embedding employability/PDP/scholarship skills
Students are required to critically research papers in scholarly journals for their presentation and essay, requiring discriminatory and presentational skills. This should develop confidence and enhance self esteem.

Assessment
Formative: LOs Students will be assessed on their presentation (one topic chosen from 2-6) and their essay (one other topic chosen from LOs 2-6), with formative feedback being given on completion.
Summative: LOs 1-6: Students will be assessed by formal unseen exam.

Research/teaching links
The module leader is a published researcher in both finance and psychology, and is a Member of the British Psychological Society. The subject matter of the module is relatively new and regular library research is required in order to ensure that it is kept up-to-date. The coursework requires appraisal of key journal articles (LOs 2-6). Research issues will be explored and findings debated during tutorials. Discussion should be engendered through students' presentations.

Supporting equality and diversity
The module is supported by web ct delivery of the module content. LOs 1-6.

Internationalisation
The subject matter of each LO is international in applicability. Students from diverse international backgrounds will be encouraged to contribute to discussions on the issues from their own cultural perspectives.


Formative Assessment:
The University is currently undertaking work to improve the quality of information provided on methods of assessment and feedback. Please refer to the section on Learning and Teaching Approaches above for further information about this module’s learning, teaching and assessment practices, including formative and summative approaches.

Summative Assessment:
The University is currently undertaking work to improve the quality of information provided on methods of assessment and feedback. Please refer to the section on Learning and Teaching Approaches above for further information about this module’s learning, teaching and assessment practices, including formative and summative approaches.

Student Activity (Notional Equivalent Study Hours (NESH))
Mode of activityLearning & Teaching ActivityNESH (Study Hours)
Face To Face Lecture 12
Face To Face Practical classes and workshops 20
Independent Learning Guided independent study 166
Face To Face Centrally Timetabled (Digital) Exam 2
Total Study Hours200
Expected Total Study Hours for Module200


Assessment
Type of Assessment Weighting % LOs covered Week due Length in Hours/Words
Oral Presentation 20 FROM 2 - 6 VARIOUS HOURS= 0, WORDS= 0
Essay 40 FROM 2 - 6 8 HOURS= 0, WORDS= 2000
Centrally Time Tabled Examination 40 1 - 6 14/15 HOURS= 2, WORDS= 0
Component 1 subtotal: 60
Component 2 subtotal: 40
Module subtotal: 100

Description of module content:

The module provides an introduction to a relatively new area in finance by reviewing alternative theories of risk-taking behaviour and identifying the most important biases in information processing that affect our ability to reach rational decisions. The broad themes covered are: the rationality or irrationality of consumers and other economic agents; aspects of economic and consumer life, including managing personal finances, material possessions and shopping (normal, impulse and compulsive); and social and cultural influences, including materialistic values, money and happiness, and advertising. The module examines two inter-related questions: what are the psychological mechanisms of individuals' social and economic behaviours, and how do society and the economy act on the psychology of individuals? Topics to be covered will include individual economic behaviours such as work, buying, saving, giving, and gambling. Economic forces acting on individual behaviour include the monetary system, taxation, advertising, economic growth and development, and special economic conditions such as those experienced by children, or by people in other, less developed economies.

Learning Outcomes for module:

LO1: Assess the assumption of “rationality” of consumers and other economic agents
LO2: Critically reflect on the research on managing personal finances, getting into debt, and over-shopping
LO3: Evaluate the links between well-being and money, in terms of materialistic desires and actual wealth LO4: Assess the psychological effects of advertising, particularly on stereotyping and body image
LO5: Assess the rationality or irrationality of the behaviour of investors and gamblers
LO6: Evaluate research on psychological factors regarding attitudes to work and retirement

Indicative References and Reading List - URL:

Core - ACKERT & DEAVES (2010) BEHAVIOURAL FINANCE: PSYCHOLOGY, DECISION-MAKING, AND MARKETS, 1st ed.
Click here to view the LibrarySearch.