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2019/2020  BA-BINBO1801U  GLOBE Finance and Financial Institutions in Society

English Title
GLOBE Finance and Financial Institutions in Society

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Bachelor
Duration One Quarter
Start time of the course Autumn, First Quarter
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for BSc in International Business
Course coordinator
  • Per H. Hansen - Department of Management, Politics and Philosophy (MPP)
Main academic disciplines
  • International political economy
Teaching methods
  • Face-to-face teaching
Last updated on 07-08-2019

Relevant links
Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors:
  • Demonstrate a thorough and critical understanding of the course literature
  • Demonstrate an excellent ability to use the course literature to analyze problems with relation to the role of finance and financial institutions in society
  • Demonstrate an excellent ability to communicate and discuss his or her findings and understanding of the subject and the course readings
Course prerequisites
Only Globe Students
Examination
GLOBE Finance and Financial Institutions in Society:
Exam ECTS 7,5
Examination form Home assignment - written product
Individual or group exam Individual exam
Size of written product Max. 10 pages
Assignment type Written assignment
Duration 72 hours to prepare
Grading scale 7-point grading scale
Examiner(s) Internal examiner and external examiner
Exam period Autumn
Make-up exam/re-exam
Same examination form as the ordinary exam
sygeomprøven er en 24 timers hjemmeopgave
Course content, structure and pedagogical approach

Important note: Due to the discussion-based character of the course, electronic devices such as laptops, tablets and smartphones are NOT allowed in class.

 

The primary overall aim of this course is to give the students a contextual and critical understanding of finance and financial institutions and their role in society. The course provides the students with an opportunity to bring together the knowledge and skills they have attained from earlier courses and to allow them to put their future courses into a context that brings together economic, political, social and cultural – or, broadly conceived, institutional – developments. This course will allow the students to use their empirical and theoretical skills but it will also force them to think out of the box, and to consider the often path dependent and time and space specific character of institutions, markets and organizations.

The course is not a finance or corporate finance course and it is not a strategy course, but it does encourage students to draw on their competencies within these areas. The course also provides the students with a critical, contextual and institutional foundation for further study in these fields.

Over the last 20-30 years, the international financial sector has developed into an economically highly important as well as a culturally and politically contested industry. In particular, the 2007-2009 financial crisis has stressed the importance of the financial sector in the economy as a systemic breakdown was averted only by massive public intervention in financial markets. This intervention has led to other problems of economic, social and political character. Global economic and financial imbalances such as increasing inequality and protectionism seems to be accelerating in parallel with a rise of populism, economic and political nationalism and fragmentation of Western societies.

As a result, the interplay between the financial markets and firms and society has become topical and much debated. Do we need more regulation of the financial sector, or smarter regulation, or is the problem the exact opposite that too much state intervention in markets have led to moral hazard and allowed rent seeking by huge financial actors? At the more general societal level, the crisis has provoked a new confrontation between protectionist, Keynesian and neo-liberal (and Austrian) approaches to the market, the economy and society in general.

 

Moreover, even financial players question the shareholder value model as inequality and polarization increase. In general it seems fair to say that Western societies are in search for a new narrative that can – once again – shape a coherent vision for a better society.

This course aims to provide students with an opportunity to think about and discuss these issues and how they relate to societal changes more generally.
Description of the teaching methods
The purpose of this course is to give the Globe students a unique opportunity to try to bring together their theoretical and empirical knowledge attained from other courses in the Globe program and outside of Globe in a discussion oriented course with few fixed answers. The main learning objective of the course is to increase the students’ capacity to analyze and discuss financial instability and crises as well as the role of the financial system in society – that is in a larger economic, political, social and cultural context. A second learning objective is to improve the students’ ability to navigate and make sense of events in an uncertain environment with different and changing institutional frameworks.

At the empirical level, the course aims at increasing students’ grasp and understanding of the role of financial institutions and culture in society. The students will develop their skills at understanding, evaluating and discussing the complex interplay between the financial sector, the institutional framework, the state and the social, historical and cultural context.


In general, the course will be based on
• Short introductory lectures and or student group presentations
• Discussion in class
• Guest lectures by invited speakers
Feedback during the teaching period
This course is thoroughly based on dialogue and discussion between the students and the instructor as well as in between the student group. In addition all students are required to take part in group presentations which will receive feedback from the instructor. The design of the course is based on the idea that students learn from discussing the required readings as well as additional newspaper and magazine articles sent out during the course. This process ensures both group and individual feed back in each class
Student workload
class hours 42 hours
preparation for class 124 hours
final examination 40 hours
Expected literature

The literature for the course will mostly be academic texts supplemented with articles from international newspapers such as the New York Times, Financial Times, and the Economist. Classes will focus on student presentations and class discussion. The students are required to be present and to be well prepared for each class. Students are required to present and to debate topics with each other in class.
Last updated on 07-08-2019