ICM262-Ethics in Investment Management

Module Provider: ICMA Centre
Number of credits: 10 [5 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Module version for: 2017/8

Module Convenor: Dr Carol Padgett

Email: c.padgett@icmacentre.ac.uk

Summary module description:

Ethics in Investment Management offers a series of lectures that explore the main ethical conflicts encountered by investment professionals as they invest other people’s money. It will examine the causes and consequences of both ethical and unethical behaviour, giving students the chance to see how individuals’ decisions affect trading partners, clients and the market as a whole. Some of the topics covered in this module feature in the CFA ethics syllabus, but this module should not be seen as an alternative to the specialist training for the CFA exams.


Aims:
To introduce students to the ethical difficulties encountered by investment professionals as they invest other people’s money.

Assessable learning outcomes:
By the end of the course students will appreciate the ethical standards imposed by professional bodies and financial regulators. They will be able to identify the ethical dimension involved in the decision-making process, and be able to discuss the conflicts between economic efficiency and ethical behaviour.

Additional outcomes:

Students will gain experience in debating with their peers.


Outline content:

Lectures:



1. Introduction to ethics



2. Ethics and the finance professional



3. Ethics and the investment chain



4. Socially responsible investment



5. Market integrity



6. Remuneration and risk-taking in banking 


Brief description of teaching and learning methods:
Lectures will be used to introduce and illustrate the theory and concepts discussed in the course. Seminars will allow the students to discuss specific cases, which further illustrate the ethical problems faced in financial markets.

Contact hours:
  Autumn Spring Summer DL
Lectures   12   12
Tutorials/seminars   6   6
Practicals        
Other contact (eg study visits)        
         
Total hours   18   18
         
Number of essays or assignments   1   1
Other (eg major seminar paper)        

Summative Assessment Methods:
Method Percentage
Written exam 70
Written assignment including essay 30

Other information on summative assessment:
The final exam lasts two hours and requires the students to answer two questions from a choice of four.
The written assignment is an essay of approximately 2500 words.

Formative assessment methods:

Penalties for late submission:

Penalties for late submission on this module are in accordance with the University policy. Please refer to page 3 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx



Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Length of examination:
One 2 hour exam

Requirements for a pass:
50% weighted average mark

Reassessment arrangements:

By written examination only, as part of the overall examination arrangements for the MSc programme.


Additional Costs (specified where applicable):
1) Required text books: Hendry, J. (2013) Ethics and Finance: An introduction Cambridge University Press, ISBN 9781107612488 price £19.99.
2) Specialist equipment or materials:
3) Specialist clothing, footwear or headgear:
4) Printing and binding:
5) Computers and devices with a particular specification:
6) Travel, accommodation and subsistence:

Last updated: 31 March 2017

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