Postgraduate Course: Fundamentals of Infrastructure Finance (CMSE11478)
Course Outline
| School | Business School |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Available to all students |
| SCQF Credits | 10 |
ECTS Credits | 5 |
| Summary | The Fundamentals of Infrastructure Finance course introduces the fundamentals for investment project appraisal, with a specific focus on low carbon and climate change adaptation infrastructure. The course will provide students with essential skills for undertaking project cash flow assessments and risk analyses. Students will come away from the course with the skills to both implement and critique project valuation methods. |
| Course description |
The course provides an overview of the different types of financial instruments and different participants involved in the development and financing of infrastructure assets. The course will teach students basic skills in building discounted cash flow models and apply these models to low carbon and adaptation projects.
The course will draw on both theoretical and applied concepts in delivering lectures on all topics. In addition to introducing students to the wider literature, recent publications and case studies will be used to ensure that students will come out of the course with specific skills in the evaluation of risks and opportunities associated with infrastructure projects.
Outline Content
1. Introduction to infrastructure as an asset class, key participants, and financing instruments
2. Discounting and present value
3. Investment project appraisal: NPV, IRR, and other metrics
4. Levelised cost of energy
5. Marginal abatement costs
6. Managing risk
7. Capital structure and financing options
Student Learning Experience
Formal teaching occurs via lectures and tutorials. Much of the learning will be the result of students' own reading and reflection, and preparation for coursework. A high degree of student participation is expected, through in-class discussions. Scholarly endeavours are fundamentally about building on the discoveries and insights of others, and we hope that team cooperation will enrich all students. There will be time for questions and discussion in class as well as practice sessions for cash flow modelling.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
|
Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Information for Visiting Students
| Pre-requisites | None |
| High Demand Course? |
Yes |
Course Delivery Information
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| Academic year 2024/25, Not available to visiting students (SS1)
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Quota: 61 |
| Course Start |
Block 1 (Sem 1) |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
100
(
Lecture Hours 10,
Seminar/Tutorial Hours 5,
Programme Level Learning and Teaching Hours 2,
Directed Learning and Independent Learning Hours
83 )
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| Assessment (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
100% coursework (individual) - Assesses all course Learning Outcomes |
| Feedback |
Formative: Feedback will be provided throughout the course.
Summative: Feedback will be provided on the assessment within agreed deadlines.
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| No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- Discuss the role of infrastructure in mitigating and adapting to climate change.
- Develop discounted cash flow models for infrastructure projects.
- Describe and develop strategies for managing different types of risk related to infrastructure finance.
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Reading List
Brealey, R.A., Myers, S., and Marcus, A. (2020) Fundamentals of corporate finance. Tenth edition. New York, NY, McGraw-Hill Higher Education.
Weber, B., Staub-Bisang, M., Alfen, H. (2016) Infrastructure as an asset class: investment strategy, sustainability, project finance and PPP. 2nd edition. Chichester, Wiley.
World Bank (2018) Low-carbon infrastructure: an essential solution to climate change. Available from: https://blogs.worldbank.org/ppps/low-carbon-infrastructure-essential-solution-climate-change. |
Additional Information
| Graduate Attributes and Skills |
Practice: Applied Knowledge, Skills and Understanding
After completing this course, students should be able to:
Work with a variety of organisations, their stakeholders, and the communities they serve -learning from them, and aiding them to achieve responsible, sustainable and enterprising solutions to complex problems.
Communication, ICT, and Numeracy Skills
After completing this course, students should be able to:
Convey meaning and message through a wide range of communication tools, including digital technology and social media; to understand how to use these tools to communicate in ways that sustain positive and responsible relationships.
Critically evaluate and present digital and other sources, research methods, data and information; discern their limitations, accuracy, validity, reliability and suitability; and apply responsibly in a wide variety of organisational contexts.
Knowledge and Understanding
After completing this course, students should be able to:
Demonstrate a thorough knowledge and understanding of contemporary organisational disciplines; comprehend the role of business within the contemporary world; and critically evaluate and synthesise primary and secondary research and sources of evidence in order to make, and present, well informed and transparent organisation-related decisions, which have a positive global impact. |
| Keywords | Not entered |
Contacts
| Course organiser | Miss Mengfei Jiang
Tel:
Email: mengfei.jiang@ed.ac.uk |
Course secretary | Miss Eilean Deane
Tel: (01316) 513758
Email: edeane@ed.ac.uk |
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