Development Finance Electives

In addition to the core curriculum, Development Finance students are required to choose one elective from the list below.

Please note: Course designs are updated and adapted annually, therefore the topics listed for each course can be considered as a guideline of what students can expect to be covered on each course.

A minimum of 13 students are required in order to run any elective.


SOVEREIGN DEBT MANAGEMENT

The course aims to critically discuss the broader topic of sovereign debt management (SDM) as part of the toolkit of economic policy and public finance management. The course makes substantial use of case studies on SDM practices as a learning tool. 

The following topics are covered in this course:

  • The role of SDM
  • Debt crisis, defaults, restructuring and cancellations
  • Sources of funds, institutions and credit ratings
  • Debt resolution mechanisms
  • Co-ordination between SDM, cash and monetary policy
  • Debt sustainability analysis
  • Developing regional markets for government securities


WTO AND TRADE NEGOTIATIONS

This course introduces students to the purpose and design of the World Trade Organization (WTO) and its relationship with developing countries. The WTO is the only global organization dealing with the rules of trade between nations. Like the World Bank and International Monetary Fund, the WTO has often been criticized as having too much power and serving as a dictatorial tool of the rich and powerful, particularly at the expense of developing economies.

The following topics are covered in this course:

  • An introduction to WTO agreements on goods and services 
  • The structure of the WTO
  • International disputes and the role of the WTO
  • Trade co-operation
  • Coalition formation and bargaining
  • The WTO "special and differential treatments" provision for developing economies


CORPORATE FINANCE AND INVESTMENT

The aim of this course is to help develop the theoretical and practical tools essential to the execution of the corporate finance function with application to development finance. The course will endeavour to provide students with a framework within which to make or evaluate financial decisions that individuals, firms and other entities are called upon to make.

The following topics are covered in this course:

  • Corporate valuation
  • Capital asset pricing
  • Financing decisions
  • Capital structure
  • Mergers and acquisitions
  • Investment performance evaluation


INNOVATIVE FINANCE

This course aims to give students an overview of innovative finance in the African setting by examining the evolving roles of stakeholders in developing and applying new financial vehicles and structures to allocate capital in a way that includes the measurement of social and environmental impact.

The following topics are covered in this course:

  • The definition of innovative finance
  • Investment impact and impact measurement
  • Direct investment analysis using due diligence and term sheets
  • Indirect investment analysis
  • Outcome-based finance and social impact bonds
  • Crowd funding
  • Blended finance


HOUSING FINANCE IN EMERGING MARKETS

This course introduces and analyzes housing finance systems and housing market outcomes across emerging markets with specific focus on sub-saharan Africa. 

The following topics are covered in this course:

  • Access to housing and housing informality in developing countries
  • The structures, elements and operations of a housing finance system
  • The development of securitization markets
  • Housing finance reform
  • Financial crises arising out of the housing sector
  • Market-oriented and public policy solutions


GLOBAL FINANCIAL ARCHITECTURE

The course aims to critically examine the role, purpose and functioning of national capital markets in the context of global markets, national and international regulations and other major related international bodies.


FINANCIAL SERVICES REGULATION


This course will provide students with an overview of the theoretical and practical aspects of financial services regulation while also critically examining the roles and functions of the various stakeholders.   

The following topics are covered in this course:

  • The objectives of economic regulation theory
  • Issues in regulatory practice
  • Disintermediation and securitization in the capital market
  • Efficiency of markets
  • The role and functions of financial institutions in the market
  • Risk and risk control in settlement 
  • Financial services and regulatory theory
  • Prudential supervision
  • Reputational and operational risk


INTERNATIONAL TRADE POLICIES

The aim of this course is to introduce students to the theory of international trade and its application to policy issues which arise in the world trading environment.

The following topics are covered in this course:

  • Gains from trade: differences in technology
  • Gains from trade: differences in factor endowment
  • Trade policy instruments
  • The political economy of trade policy
  • Dependency theory
  • The dual-sector model
  •  Trade considerations for multinationals


Overview | Core Courses | Research Report | Term Dates | Entrance Requirements | Fees | How to Apply | Available Funding