UNIVERSITY OF KENT
FINANCE with EXCEL
SECTION 1: MODULE SPECIFICATIONS
1.
Title of the module:
Finance with Excel
2.
School which will be responsible for management of the module:
Kent Business School
3.
Start date of the module
September 2013
4.
The number of students expected to take the module
40
5.
Modules to be withdrawn on the introduction of this proposed module and
consultation with other relevant Schools and Faculties regarding the withdrawal
N/A
6.
Level of the module
M
7.
The number of credits which the module represents
15
8.
Which term(s) the module is to be taught in (or other teaching pattern)
Autumn
9.
Prerequisite and co-requisite modules
N/A
10. The programme(s) of study to which the module contributes
MSc Financial Markets
MSc Financial Services in Banking
MSc International Accounting and Finance
11. The intended subject specific learning outcomes and, as appropriate, their
relationship to programme learning outcomes
Through successful completion of the module, students will be able to:
11.1:
perform essential financial calculations using Microsoft Excel
11.2:
use Excel statistical and probabilistic functions and features for financial
applications
11.3:
carry out bond-related calculations using Excel
11.4:
use Excel for stock analysis
11.5:
use Excel for portfolio optimization
11.6:
implement well-known derivatives models into Excel
12. The intended generic learning outcomes and, as appropriate, their relationship to
programme learning outcomes
By the end of this module, students should be able to demonstrate the ability to:
12.1:
set-up a professional Microsoft Excel spreadsheet
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12.2:
translate theoretical problems or models into spreadsheet applications
12.3:
present and analyse real market data
12.4:
understand and correctly interpret financial results obtained using Excel
12.5:
use Microsoft Excel functions as well as other important features for financial
applications
13. A synopsis of the curriculum
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Excel Essentials
Excel Functions: important mathematical and statistical functions
Useful Excel Tricks
Data Analysis, Solver, Goal Seek
Array functions; workings with rows and columns
Financial applications:
o Portfolio analysis basics in Excel
o PCA Analysis of correlated financial systems
o Finding a bond yield with Solver
Basic Financial Calculations with Excel (PV and FV, with applications to stock
valuation; building loan tables)
Essential Probability and Statistics with Excel
Bond & Stock Analysis (bond pricing, duration and convexity, the yield curve, stock
valuation using the DDM, DuPont Stock Analysis)
Portfolio Optimization (building efficient frontiers; constrained optimization;
performance measurement for active and passive strategies; the Black-Litterman
approach)
Derivatives Modelling in Excel (building swaps cash flow tables; spot-futures parity;
options on various underlying assets: pricing, Greeks, implied volatility)
Advanced Modelling: VBA for Financial Applications
Finally, it is worthwhile emphasizing the importance of Excel for the finance profession:
any student wishing to succeed in the finance sector must acquire a high level of
competency with Excel in order to be competitive in today’s highly selective job market.
14. Indicative Reading List
Benninga, S. (2008) Financial Modelling, third edition, MIT Press.
Alexander, C. (2008) Market Risk Analysis, Vol 1: Quantitative Methods in Finance,
Wiley.
Holden, C.W. (2012) Excel Modelling in Investments, fourth edition, Pearson.
Jackson, M. and M. Staunton (2001) Advanced Modelling in Finance using Excel and
VBA, Wiley.
15. Learning and Teaching Methods, including the nature and number of contact
hours and the total study hours which will be expected of students, and how these
relate to achievement of the intended learning outcomes
There will be 36 hours of class contact time, comprising a mixture of lectures and
seminars (computer lab sessions). The lectures will be used for whole class presentation
of material by the lecturer, while during the seminar time students will implement the
techniques they have been taught in practice, using financial data and Microsoft Excel.
Students will be expected to study for 150 hours in total with non-contact time devoted to
guided individual learning, including preparing the module coursework.
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Intended
learning
outcomes
Subject
specific
Generic
Lecturer-led sessions
Seminars
Guided individual
learning
11.2-11.6
11.1-11.6
11.3-11.6
12.1and 12.4
12.1, 12.3-12.5
12.1, 12.3, 12.4
16. Assessment methods and how these relate to testing achievement of the intended
learning outcomes
The assessment pattern will consist of two individual pieces of work: one individual piece
of coursework which will count for 30% of the mark and an Excel-based project, which
will count for 70% of the mark. Both the coursework and the project will be set by the
lecturer and will cover all subject specific and generic learning outcomes 11.1 to 11.6
and 12.1 to 12.5.
17. Implications for learning resources, including staff, library, IT and space
No software requirements (Microsoft Excel is already available on all university
computers). Books on the reading list need to be ordered for the University library. All
sessions must be run in a computer lab, equipped with a projector, whiteboard and
visualizer, sitting 20-40 students. As the Kent Business School (KBS) computer lab only
has 12 terminals, no fixed projector, visualizer or whiteboard, an alternative, fully
functional computer room must be identified for delivering this module.
18. The School recognises and has embedded the expectations of current disability
equality legislation, and supports students with a declared disability or special
educational need in its teaching. Within this module we will make reasonable
adjustments wherever necessary, including additional or substitute materials,
teaching modes or assessment methods for students who have declared and
discussed their learning support needs. Arrangements for students with declared
disabilities will be made on an individual basis, in consultation with the
University’s disability/dyslexia support service, and specialist support will be
provided where needed.
19. Campus(es) where module will be delivered 1
Canterbury
SECTION 2: MODULE IS PART OF A PROGRAMME OF STUDY IN A UNIVERSITY
SCHOOL
Statement by the School Director of Graduate Studies: "I confirm I have been consulted
on the above module proposal and have given advice on the correct procedures and required
content of module proposals"
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Director of Graduate Studies
Date
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Print Name
1
Required for information purposes only. Changes of campus will not require re-approval of the
module specification.
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UNIVERSITY OF KENT
Statement by the Head of School: "I confirm that the School has approved the introduction
of the module and, where the module is proposed by School staff, will be responsible for its
resourcing"
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Head of School
Date
…………………………………………………….
Print Name
Module Specification Template
Last updated January 2013
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