Career Opportunities and Further Education
Careers in the financial services industry, manufacturing industry, mining industry, financial and economic research institutions, Government, academia and any other industry that has a treasury, foreign exchange and investment department.
Master’s and doctoral studies in Banking, Financial Economics, Finance and Business Administration or in interdisciplinary programmes related to Banking and Financial Economics.

Normal Entry
To qualify for normal entry into the Bachelor of Commerce (Honours) Degree in Banking and Investment Management programme, a candidate, in addition to satisfying the minimum conditions prescribed under the General Regulations and the Faculty Regulations for Five ‘O’ Level passes including English Language and Mathematics (A, B, or C grades), must have passed Economics and any one of the following subjects at “A” Level: Accounting, Business Studies/Management of Business or Mathematics.

Special Entry
Applicants who do not have the required “A” Level passes but have successfully completed the Higher National Diploma in Banking and Finance or have otherwise obtained equivalent qualifications may apply for direct entry into Part II of the degree programme.

Mature Entry
There is also provision for mature entry for persons who may not have the appropriate academic qualifications for entry but who have suitable or relevant experience and who satisfy the University and the Department of their ability to complete the degree course satisfactorily.

 

Programme Delivery
Teaching and Learning Methods:	Lectures, tutorials, seminars, group work, field visits, research project, individual independent study.
Assessment Methods:	Written examinations, tests, assignments, oral presentations, seminar presentations, third year research project report, final year dissertation, continuous assessments.
Programme Competences
Generic: Multidisciplinary: Ability to draw appropriately from multiple academic disciplines to define and solve problems based on understanding of complex phenomena Quantitative and innovative reasoning: Capability to draw on big data and use analytics for informed decision making and strive to seek new ways of doing things Communication skills: Ability to communicate effectively and to present information orally and in writing and using ICTs to both expert and non-expert audiences Analysis and synthesis: Capacity for analysis and synthesis using logical arguments and proven facts. Ethical commitment: Professional integrity and awareness of impact of banking and financial economics on society and the environment Entrepreneurial skills: Capability to identify and create new business ventures based on knowledge and new thinking paradigms
Exit Level Outcomes
Problem solving Identify, formulate, analyse and solve complex banking and financial economics problems creatively and innovatively. Application of banking and financial economics knowledge Apply knowledge of banking, finance, and financial economics speciality to solve complex economic problems. Investigations and data analysis Demonstrate competence to design and conduct investigations. Investment analysis methods, skills and tools, including information technology Demonstrate competence to use appropriate investment and financial analysis methods, skills and tools, including those based on information technology. Professional and technical communication Demonstrate competence to communicate effectively, both orally and in writing, with financial audiences and the community at large. Sustainability and impact of banking activity Demonstrate critical awareness of the sustainability and impact of banking and finance activities on the social, economic and physical environment. Individual, team and multidisciplinary working Demonstrate competence to work effectively as an individual, in teams and in multidisciplinary environments. Independent learning ability Demonstrate competence to engage in independent learning through well-developed learning skills. Banking and Finance professionalism Demonstrate critical awareness of the need to act professionally and ethically and to exercise judgment and take responsibility within own limits of compete

Programmes of Study

The degree will be awarded to candidates who have successfully completed the programme and passed the examinations in accordance with Faculty Regulations.

Duration of Programme and Delivery

The Programme consisting of coursework shall normally be completed over a maximum period of 4 years both on a full-time and block-release basis.

On all basis, delivery time shall be allocated as follows:

Year of Study	Number of Modules
Part 1	12
Part 2	14
Part 3	Industrial Attachment
Part  4	13
Total Number of Modules	39 1 Research Project

Assessment

Candidates shall be assessed in accordance with provisions of the General Academic The programme will have a minimum of 530 credits in total. Each part will contribute to this total as follows:

Part 1               120 credits

Part 2               140 credits

Part 3               120 credits

Part 4               150 credits

PART I        CREDITS

FIRST SEMESTER
CBU 1102     Business Communication    10
CIN 1109    Commercial Law    10
CBA 1105    Microeconomics    10
CIN 1106    Quantitative Analysis for Business I    10
CAC 1107    Accounting IA/CAC 1101 Financial Accounting IA     10
CBU 1108    Principles of Management    10
CTL1101    Conflict Transformation and Leadership    10

SECOND SEMESTER
CFI1203    Financial Mathematics    10
CBA1206    Macroeconomics    10
CIN1207    Quantitative Analysis for Business II    10
CAC1208    Accounting 1B/CAC 1201 Financial Accounting IB    10
CMK1209    Principles of Marketing    10

PART II

FIRST SEMESTER
CFI2101    Corporate Finance I    10
CBA 2110    Banking and Financial Markets    10
CIN2103    Law Relating to Banking I    10
CAC1203    Introduction to Information Technology    10
CAC2106    Accounting IIA/ CAC2101Financial Accounting IIA    10
CBA2108    Treasury Management I    10
CBA2109    Mathematical Applications in Banking    10

SECOND SEMESTER
CFI2201    Corporate Finance II    10
CBA2202    Banking and Foreign Exchange    10
CIN2203    Law Relating to Banking II    10
CAC2206    Accounting IIB/ CAC2201Financial Accounting IIB    10
CBA2208    Treasury Management II    10
CBA2209    Introduction to Econometrics    10
CBA2210    Banking Information Systems    10

PART III

CBA3001    Industrial Attachment    120

PART IV

FIRST SEMESTER
CBA4101    Banking and Development    10
CBA4102    Marketing of Financial Services    10
CBA4103    Applied Economics I    10
CBA4107    International Banking and Finance    10
CBA4108    Investment Analysis and Management    10
CBA4109    Consumer and Corporate Lending    10
CBU4109    Entrepreneurship    10

SECOND SEMESTER
CBA4203    Applied Economics II    10
CBA4204    Derivative Securities    10
CBA4207    Advanced International Banking and Finance    10
CBA4208    Development Finance    10
CBA4209    Financial Risk Management    10
CBA4210    Ethics and Corporate Governance    10
CBA4007    Research Project    20

Total Credits        530

Pre-requisites

Students must have passed Microeconomics CBA 1105 and Macroeconomics CBA 1206 before proceeding to Corporate Finance CFI 2101.

Students must have passed Accounting I CAC 1107 before proceeding to Accounting II CAC 1208.

Students must have passed Banking and Foreign Exchange CBA 2202 before proceeding to International Banking and Finance CBA 4107.

CBA 1105 Microeconomics [10 Credits]          

This module will study markets and the decision making embedded therein. It will discuss standard economic arguments that free markets work “best", the conditions under which these arguments are most believable, and policy options when these conditions are not met. The module will examine both competitive markets, for which basic models of supply and demand are most appropriate, and markets in which agents act strategically, for which game theory is the more appropriate tool. The module will cover, inter alia, economic theory and the market economy, consumer theory, choice under uncertainty, production and costs, efficiency and trade, market equilibrium, game theory and imperfect competition.

CBU 1102 Business Communication [10 Credits]        

General comprehension and expression, report writing, comprehension of ideas, development of different styles and the use of English in a business setting, communicating skills, letter writing, committee documents, use of questionnaires, note taking, and summarising.

CIN 1109 Commercial Law [10 Credits]

The module introduces students to the basic legal principles governing the business environment. Focus will be placed on definition of contracts, requirements of a contract, breach of a contract, remedies for breach of contracts, law of agency, contract of sale, law of business organisations and insurance contract.

CIN 1106 Quantitative Analysis for Business I

CIN1106 is a quantitative reasoning module for student in the Faculty of Commerce.  It covers the techniques business students are most likely to use in future modules and in business related research.  The topics covered are useful in economics, finance, accounting, risk, marketing and personnel management and in tandem with international developments in these areas.  Students will learn a variety of problem-solving strategies that are applicable in a wide range of business environments.  Specific topics include matrix algebra, linear programming, index numbers, calculus, decision making in business and an introduction to financial mathematics.

CAC 1107 Accounting IA [10 Credits]  

The module is designed for students without “A” level Accounting. It introduces students to basic principles, concepts and techniques of Accounting in general. The module focuses on the use of Accounting information by managers. The course covers the following areas Accounting cycle, Accounting as an Information system, trial balance, preparation of financial statements for individual companies, non-profit making organisations as well as Accounting ratios.

CBU 1108 Principles of Management [10 Credits]       

History and development of management thought, functions of management, organisational structures, decision making, communication, centralisation and decentralisation, delegation, leadership and motivation, controlling budgeting and non-budgetary controls.

CAC 1101 Financial Accounting IA [10 Credits]           

The module is designed for those students with “A” Level Accounting. The module focuses on principles and techniques of Financial Accounting and their application to the preparation of financial statements of sole traders, partnerships, limited companies and non-profit making organisations culminating in analysis and interpretation of financial data.

CTL 1101 Conflict Transformation & Leadership [10 Credits]

The thrust of the course is understanding peace and conflict; theories of conflict; conflict analysis and tools; economic roots of conflict; gender and conflict; leadership; leadership and conflict handling mechanisms; leadership and conflict handling mechanisms; women in leadership; leadership ethics; interplay: leadership, conflict and development

CBA 1206 Macroeconomics [10 Credits]         

The module is designed to address how economists model the relationships between aggregate economic variables and examine how various fiscal and monetary policies can affect the results. The main goal is to improve students’ economic literacy and ability to apply economic models to analyse real world events.  This module will be taught from an equilibrium perspective. This means the module will work with economic agents that optimize and with aggregate consistency conditions. Along with building basic economics intuition, the module will be centred on constructing and understanding macroeconomic models. These models will be used to discuss the theory of long-run economic growth and short-run economic fluctuations and to analyse macroeconomic policy, in particular fiscal policy.

CFI1203 Financial Mathematics [10 Credits]

The module is an introduction to basic concepts of quantitative finance upon which cash flow-based valuation models of finance are built. In particular, the module explores time value concepts in finance, equations of value, loan amortization and sinking fund problems, money market instruments and different yield measures, bond valuation and bond yield analysis, bond risk analysis and immunization, and the mathematics of portfolio theory. The module seeks to develop student skills in the application of discounted cash flow techniques and other mathematical techniques to investment analysis, portfolio optimization, and capital asset pricing. ‘A’ Level mathematics is an important pre-requisite for a good understanding of financial mathematics. Mathematics areas of particular interest are differential calculus, progressions, binomial and Taylor expansions, numerical methods and logarithms.

CIN 1207 – Quantitative Analysis for Business II

CIN 1207 is an introductory module in business statistics designed especially for students majoring in Commerce. It covers the techniques business students are most likely to use in their future modules. The module covers descriptive and inferential statistics with business applications to analyse management and organizational problems. Students will learn to apply statistical analysis techniques to practical problems that firms in the real world face. Specific topics include: measures of central tendency and dispersion, probability theory and distributions, estimation, hypothesis testing, regression analysis and correlation analysis.

CAC 1208 Accounting IB [10 Credits]  

The module aims at equipping students with basic Management Accounting techniques in planning, control and decision making. It is intended for non-accounting professionals and covers the following areas: relationship of Cost and Management Accounting to other branches of Accounting, cost classification, stock valuation, material and labour costing, cash budgets etc.

CAC 1202 Financial Accounting IB [10 Credits]           

The module builds on the foundation laid in Financial Accounting IA. The module aims at developing a thorough understanding of the practical framework of Accounting and an ability to prepare, analyse and interpret financial statements. It covers the following areas of study: Accounting for limited companies, published accounts analysis and interpretation of final accounts, cash flow statements as well as latest developments of IAS applications in relationship to the areas covered.

CMK 1209 Principles of Marketing [10 Credits]

Marketing functions; the environment of marketing; marketing information systems and marketing research; the marketing mix; consumer behaviour; the social responsibility of marketing; public policy with respect to marketing practices.

CAC 2101 Financial Accounting IIA [10 Credits]          

The module builds on the foundation laid in Financial Accounting 1A & B. The module aims at providing students with knowledge of Accounting as related to partnership, accounting for specialised transactions, and interpretation of financial statements.

CAC 2201 Financial Accounting IIB [10 Credits]          

This module is a continuation of Financial Accounting IIA. The module aims at helping students develop a thorough understanding of the practical framework of accounting and imbibe an ability to apply the International Standards (IAS), Financial Reporting Standards adopted by the Institute of Chartered Accountants of Zimbabwe and GAAP.

CAC 2106 Accounting IIA [10 Credits] 

The purpose of the module is to build on topics encountered in Accounting IA an B which were tailored for future managers, rather than accountants. Topics will include contract accounts, standard costing, profit volume analysis, introduction to partnership accounts etc.

CAC 2206 Accounting IIB [10 Credits] 

The module will introduce group accounts and cash flow statements. Further topics include accounting for the issue and redemption of shares, business valuations and financial statements analysis.

CAC 1203 Introduction to Information Technology[10 Credits]

The module introduces students to the role of computers in the business world and builds on the uses of different application packages in their field of study. It covers the following; basic fundamental concepts, management’s need for information and types of systems, transaction processing as well as an industry specific project.

CBA 2110 Banking and Financial Markets[10 Credits] 

This is an introduction to a monetary economy and it acquaints students with the justification for existence of financial systems, development of the Zimbabwean financial system in general and the banking system in particular, its regulation, contribution to economic growth and its place in the global village. Also discussed are the roles and contributions of informal sources of credit such as micro finance institutions and private saving schemes. In addition, the module covers management of financial institutions as well as operations and instruments traded in money and capital markets.

CFI 2101 Corporate Finance I [10 Credits]       

The aim of the module is to identify the objective that Corporate Finance managers pursue or ought to pursue in order to satisfy the needs of corporate stakeholders and to develop, in students, concepts and corporate analytical tools that will enable them to meet this objective. To this end, the course will cover the following critical areas: Goals of a firm and the agency theory; Time value concepts and valuation of bonds and shares; Capital Budgeting under certainty; Operating and financial leverage; Introduction to portfolio theory and capital asset pricing; the stock market and other sources of long-term capital; innovations in Corporate Finance.

CFI 2201 Corporate Finance II [10 Credits]

The aim of the module is to develop, further, in students, concepts and corporate financial analytical tools. The areas covered will include the following: Introduction to capital structure theory and practice; Cost of capital and valuation; Introduction to capital budgeting under uncertainty; Dividend policy theory and practice; Corporate working capital management; and innovations in corporate finance.

CBA 2202 Banking and Foreign Exchange [10 Credits]           

The module traces the development of foreign exchange markets and thereafter takes a comparative study of different exchange regimes that have existed at one time or another and examines why none of them alone has proved ideal. The module provides an introduction to the role played by banks in international trade. The last part of the module is on the services offered by banks to their clients in the international sphere including the provision of travel facilities.

CIN 2103 Law Relating to Banking [10 Credits]           

CIN 2203 Law Relating to Banking [10 Credits]

The two semester module is designed to provide students with an insight into the legal elements of the Banking Business. Issues covered: Bank-Customer relationship, Customer Accounts, Instruments, Participants, Principles of Lending, Advances and Securities, Exchange Controls as well as basic concepts of International Banking.

CBA 2108 Treasury Management I [10 Credits]                        

CBA 2208 Treasury Management II [10 Credits]           

The two semester module seeks to equip students with a thorough understanding of treasury department operations of financial and non-financial institutions. It covers areas such as structure of a treasury department, treasury management planning, risks in a treasury department, risk management strategies in a treasury department, fund management, liquidity management and asset and liability management. Treasury Management I (CBA 2108) will cover the following topics: Introduction to Treasury Management, Financial Markets, Structure of a Treasury Department, Treasury Management Planning, Liquidity Management and Term Structure of Interest Rates. Treasury Management II (CBA 2208) will cover the following topics: Risk in a Treasury Department, Risk Management Strategies in a Treasury Department, Asset and Liability Management and Fund Management.

CBA 2109 Mathematical Applications in Banking [10 Credits] 

The principal objective of Mathematical Applications in Banking is to inculcate optimisation skills in students of Banking and Investment Management. Optimisation is a key pillar of finance and banking. To this end, the module will revolve around linear programming, Integer programming, and dynamic programming as well as nonlinear optimisation and concave optimisation. Applications of Differentiation and Integration to Banking and Economics will also be covered. It will also develop concepts necessary to impart deeper knowledge in the day/year conventions, money market calculations, discount instruments, CDs and general pricing of assets.

CBA 2209 Introduction to Econometrics [10 Credits]  

The module introduces students to basic econometric principles and the use of statistical procedures in empirical studies of economic and financial models. Assumptions, properties, and problems encountered in the use of multiple regression are discussed as are simultaneous equation models, simulation, and forecasting techniques. Topics include regression analysis, Hypothesis testing, Time series modelling, Multivariate models, Forecasting as well as applications to Research Methods in Banking.

CBA 2204 Banking Information Systems[10 Credits]   

E-banking definition, Industry trends and policy, e-banking components, informational websites, transactional websites Technology basics, Network typology, IT operations and risks, global payments landscape, emerging products and technologies, technology and channel access, customer needs and choices, organisational structure, innovation in e-banking, products and product development, mobile commerce/applications, Risk management in e-banking, the risk galaxy – Market, Operations, Credit, Liquidity, Interest Rate, Price, Compliance/legal Risk, Strategic, Reputational, Money laundering, e-banking controls, marketing and service support for e-banking.

CBA 4101 Banking and Development[10 Credits]        

The module provides students with an understanding of the need for, and the role of finance in development, the evolution of state participation in development finance institutions, the economics and operational procedures of the same, etc. The module is policy oriented and would equip students with broad understanding of development finance and its interaction with monetary and fiscal policies, coverage includes the informal sector. Theories of growth and the role of finance in economic growth, Financial Repression, Fiscal policies for growth, mobilisation of domestic savings and foreign technical sources in development, the debt crisis, optimum currency areas, the need for, and order of financial liberalisation. Agricultural finance and the role of the state in industries financial development, Zimbabwe's experience, Profitability, Regulation and portfolio segmentation in Development Finance Institutions (DFIs).Capital adequacy of DFIs' structure conduct and performance in the macro economy, distress and prediction models. Information content of prices and interest rates etc., interest determination in controlled markets, financial liberalisation, the performance of the financial sector certainty and uncertainty in Financial Markets, including adverse selection and incentive effects.

CBA 4102 Marketing of Financial Services[10 Credits]

The main objectives of the module are to equip students with the understanding of the following:-The role of Marketing; evolution of Marketing in the banking sector; understanding customers; the role of market research and methods of segmenting markets; managing marketing; marketing information; the marketing planning process; marketing mix decisions' product; promotion and price decisions; achieving sales, bankers as retailers and service quality. the application of Marketing techniques at Retail branch level

CBA 4103 Applied Economics I            [10 Credits]                             

CBA 4203 Applied Economics II           [10 Credits]     

The two semester module sets out to present basic features of the macroeconomic environment with special reference to developing economies. Macroeconomic policy has a direct and profound impact on the behaviour and the depth of financial systems in an economy and consequently on economic growth. Emphasis on short-term stabilization policies as prescribed by the SAPs in most LDCs has tended to generally post unexpected and non-standard outcomes. Part I is set as an introductory step to analyse the theoretical foundations of such policies; their standard transmission mechanisms and why they may not be the most appropriate and effective policies in LDCs when taken in their raw form. The module also incorporates an introduction to Mathematical Economics part in order to keep students abreast with modern and widely accepted skills and techniques in the field of economic analysis and interpretation. Part II is mainly an application of models discussed to real life situations.

CBA 4204 Derivative Securities            [10 Credits]     

Globalisation has brought rapid changes in the Banking and Financial sectors all over the world. These changes have brought the need on the part of banks and other financial institutions, to come up with new ideas to cope in the more competitive and changing environment. To keep pace with the changes, financial innovation or engineering is needed. This module thus aims at equipping students with the basic skills of using derivatives in areas such as investment management, foreign currency exposure management etc. To do this, topics such as valuation, uses and applications of different derivative securities e.g. Interest Rate currency and commodity derivatives will be covered. Hedging instruments, strategies and techniques, real options and warrants will also be covered.

CBA 4107 International Banking and Finance [10 Credits]       

The module builds on the Banking and Financial Markets module. This is designed to acquaint students with the broad perspective of international monetary structure. This module provides insights into international financial markets, operations and instruments, their development and challenges. It covers multinational financial management, international flow of funds, international financial markets, short term asset and liability management, long term asset and liability management, country risk analysis.

CBA 4207 Advanced International Banking and Finance [10 Credits]

The module consolidates the International Banking and Finance issues regarding market interdependencies, regulation and supervision challenges in the light of increasing competition from non-banks, globalisation and financial conglomerates. It discusses regulatory efforts to harmonise global financial dealings to ensure efficiency and reduce systemic risk, and contagious bank runs. The module also covers alternative international investments, exchange rate determination, currency derivatives, international arbitrage, parity conditions, and exchange rate risk management. Case Studies are used to highlight the regulatory challenges.

CBU 4109 Entrepreneurship   [10 Credits]       

The nature of entrepreneurship; The evolving nature of entrepreneurship, understanding entrepreneurship in individuals, environmental assessment; preparation for a new venture; marketing research for new ventures, Financial preparation for entrepreneurship ventures; developing an effective business plan; sources of capital for entrepreneurs; assessment and evaluation of entrepreneurial opportunities; structuring and legal issues associated with new business ventures; strategic planning for emerging ventures; entrepreneurship and the global environment.

CBA 4108 Investment Analysis and Management [10 Credits] 

The module acquaints students with ways of managing their and clients’ money so that both can derive the maximum benefit from what they earn. To accomplish this purpose, the module discusses investment alternatives that are available and develops plausible skills of analysing, selecting and managing those investments. The module covers the investment environment, investment markets and instruments, bond prices and yields, fixed Income portfolio management, equity portfolio management, portfolio theory, management of client portfolios (Individual, Personal Trust, Mutual Funds, Pension Funds, Unit Trusts), making investment decisions, asset allocation, security selection approaches, equilibrium in capital markets, market efficiency, and equity valuation models. To enhance the investment management component, the module will also cover institutional investment, tax on investments, and personal finance.

CBA 4109 Consumer and Corporate Lending [10 Credits]       

The module is offered in response to the growing importance of advances in bank and non-bank asset management. It seeks to explain the general principles of lending, propose a structured approach to the evaluation of credit proposals, and draw decisions there from. The concept of lending will therefore be identified as a strategic factor. Coverage will include credit assessment, principles of security, interpretation of financial statements, bad and doubtful debtors as well as control of the same.

CBA 4208 Development Finance [10 Credits]  

The module provides students with an understanding of the need for, and the role of finance in development, the evolution of state participation in development finance institutions, the economics and operational procedures of the same, the interaction of development finance with monetary and fiscal policies. Module coverage also includes the informal sector. Topics covered include theories of growth and the role of finance in economic growth, financial repression, fiscal policies for growth, mobilization of domestic savings and foreign technical sources in development, agricultural finance and the role of state in industries financial development, regulation and portfolio segmentation in development financial institutions.    

CBA 4209 Financial Risk Management [10 Credits]     

The module aims at developing a broad understanding of the drivers of risk and to provide a framework for financial risk management from which applications to particular situations will be made. Specifically the module will focus on equipping students with skills in developing a systematic framework for handling risk situations, understanding how people in general and managers in particular behave in risky situations and recognizing inconsistent behaviour, identifying sources of risk and evaluating exposures, and developing expertise in the issue of market mechanisms available for mitigation of risk using financial risk management models and techniques. Fundamentals of the module include identification and measurement of financial risk, risk analysis, techniques of dealing with risk, predicting company failure.

CBA 4210 Ethics and Corporate Governance [10 Credits]       

The module seeks to develop in students a firm understanding of the basic of Corporate Governance by getting insights in different corporate governance systems. It includes issues relating to fiduciary duties, risk oversight, audits, internal controls and crisis management. In addition it focuses on ethical issues, mainly the ability to identify and deal with ethical dilemmas and unethical practices in business.

CBA 4007 Research Project [20 Credits]         

The project is meant to give students an opportunity to apply the knowledge gained over the period. The project is a consolidation of the theoretical knowledge gained in the taught modules and the practical experience gained from Industrial Attachment. Students undertake research in an area of their choice but limited to those that are related to the modules being studied in liaison with their academic supervisors to produce a project which has practical applications/solutions. The research project should be 10 000 – 15 000 words long (excluding preliminary pages and appendices).