Undergraduate Course: Banking Regulation and Economic Inequality (LAWS10284)
Course Outline
| School | School of Law |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 10 (Year 3 Undergraduate) |
Availability | Available to all students |
| SCQF Credits | 20 |
ECTS Credits | 10 |
| Summary | This course introduces core components and aspects of the law related to the banking sector with a particular focus on its role and effects vis-à-vis the societal phenomenon of economic inequality through the UK lens. |
| Course description |
Economic inequality has become a topical issue at different levels and from different perspectives in the last decades worldwide. Considering the financialisation of the UK economy and the evolution of banking law and regulation after the financial crisis of 2007-2008 guided progressively by public interest considerations, it would have been expected that banking law and regulation would have resulted in a few positive results and particularly in the decrease of economic inequality. Unfortunately, this has not yet been the case and an exploration of that area of law and regulation and its role and limitations towards creation and distribution of wealth is crucial. The objective of this course is to explore the role of the UK banking sector and its regulation in the increase of economic inequality. A multi- and interdisciplinary study will be employed with the aim to acquire a holistic understanding of the underlying driving forces of the relevant legal developments and their impact on economic equality providing the necessary context to proceed with their critical analysis and evaluation in the current UK context.
Please find below an indicative list of topics which are to be covered through the seminar's course:
Economic inequality and the role of law; Basic functions and role of banks and banking in the economy; The historical evolution of UK banking law and regulation; UK financial regulatory authorities: mandates and accountability; Access to banking services and activities; Quality of banking services and activities; Debt creation, collection, and enforcement; UK banking regulation: A micro-prudential perspective; UK banking regulation: A macro-prudential perspective; UK banking regulation: Privatisation of profits and socialisation of losses?
|
Information for Visiting Students
| Pre-requisites | None |
| High Demand Course? |
Yes |
Course Delivery Information
|
| Academic year 2024/25, Available to all students (SV1)
|
Quota: 0 |
| Course Start |
Semester 1 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Seminar/Tutorial Hours 20,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
176 )
|
| Assessment (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
|
| Additional Information (Assessment) |
The summative assessment will be a 4000-word executive report (100% weighting) |
| Feedback |
Students will have the opportunity to submit a formative assessment, composed of an abstract and a bullet-pointed executive report plan. Written and oral 1-to-1 feedback will be provided on the formative and summative assessment. |
| No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- Demonstrate knowledge and understanding of the role of banks and the banking sector in the economy
- Demonstrate knowledge and understanding of the regulatory framework governing the banking sector in the UK
- Critically assess the role of banking law and regulation and its effects on economic inequality
- Conduct independent research in the area of banking law and regulation
- Draw on acquired knowledge to structure, develop and communicate arguments effectively, both orally and in writing
|
Reading List
Since currently there is no available secondary source targeting all aspects discussed within the framework of this course, multiple core sources will be provided for each weekly seminar.
Please find below an indicative list of a few core secondary sources:
1. Brian Nolan, Wiemer Salverda and Timothy M. Smeeding (eds), The Oxford Handbook of Economic Inequality (Oxford University Press, 2011)
2. Katharina Pistor, The Code of Capital: How the Law Creates Wealth and Inequality (Princeton University Press, 2019)
3. Emilios Avgouleas et al, Principles of Banking Law (Oxford University Press, 2018)
4. Allen N. Berger, Philip Molyneux, John O. S. Wilson (ed.), The Oxford Handbook of Banking (Oxford University Press, 2019)
5. E.P. Ellinger, 'Fifty Years of Banking Law' (2008) 23 Banking & Finance Law Review 377
6. Iris H-Y Chiu and Joanna Wilson, Banking Law and Regulation (Oxford University Press, 2019)
7. Anat Keller, Legal Foundations of Macroprudential Policy: An Interdisciplinary Approach (Intersentia, 2020) |
Additional Information
| Graduate Attributes and Skills |
Creative problem solvers and researchers:
The students conduct research into the law and regulation governing the banking sector and identify creative solutions to distribution and economic inequality issues through analysis of key primary and secondary sources.
Critical and reflective thinking:
Students will engage with varied sources and perspectives to understand the distributional role of that functional field of law and its effects on economic inequality from a multi- and inter-disciplinary perspective.
Passion to engage locally and globally:
The immense influence of international standards upon UK banking regulation is evident. Placing UK jurisdiction in the broader context of the international financial architecture, students are encouraged to engage with distributional and economic inequality issues created, transformed, or influenced by banking law and regulation at individual but also state level.
Courage to expand and fulfil their potential:
The course encourages students to place this field of law in the broader societal context and identify its role in one of the current societal challenges, namely economic inequality. In parallel, this course aims at providing students with the tools necessary to look for the distributional effects of law in general and the role of law in the current rise of economic inequality. Those tools are argued to be crucial not only in relation to their future professional roles but also their role as citizens. |
| Keywords | Banking law and regulation,economic inequality,distribution |
Contacts
| Course organiser | Dr Evgenia Ralli
Tel:
Email: eralli@ed.ac.uk |
Course secretary | Miss Robyn Blyth
Tel: (01316) 514550
Email: rblyth@ed.ac.uk |
|
|
University Homepage