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MSc in Law, Economics and Governance - Learning Outcomes

Educational aims

The scope of the knowledge, skills and applications covered in this qualification aims to provide you with a masters-level educational experience in the specialist area of finance, economics and law.

The key objectives of the programme are to enable you to:

  • develop an advanced interdisciplinary understanding of relevant finance, economics, governance, and legal contexts.
  • enhance your career options by allowing you to specialise in the interdisciplinary areas of finance, economics, law, and governance.
  • learn and apply tools to analyse complex and international scenarios, and support decisions in financial, legal, banking, governmental or research institutions.
  • develop appropriate information search, retrieval and analytical skills in the digital environment.
  • critically evaluate the rigour and validity of published research and assess its relevance with respect to new situations.
  • demonstrate ability to apply research techniques to form views on business finance, management theories and legal frameworks, as well as their applications to real-world scenarios.

Learning outcomes

The qualification provides opportunities for you to develop and demonstrate knowledge and understanding, qualities, skills, and other attributes in the following areas:

Knowledge and understanding

On completion of this qualification, you’ll:

  • gain knowledge and understanding the main principles and concepts of European law of corporations in a comparative and international perspective alongside relevant real-world facts and judicial cases.
  • gain knowledge and understanding theoretical concepts and managerial tools to analyse and solve problems in the realms of economics and law.
  • demonstrate an understanding and an ability to apply knowledge of principles of regulation and laws to a number of business areas, as well as complex problems and essay questions.
  • develop an advanced multidisciplinary comprehension of relevant economic, financial and legal contexts.
  • assess critically the impact of regulation on organizational performance and select the most efficient arrangements through contracts and governance strategies.
  • apply quantitative methods to analyse economic and financial data.
  • understand the scope of financial knowledge and its application within a wide range of national and multinational organisations.
  • gain knowledge and understanding of the fundamentals of financial analysis and corporate finance theory.
  • understand the implications of corporate governance, agency theory and the related role of stakeholders; understand the core features of Islamic finance.
  • understand organisational performance in terms of return on investment, investment risk and capital structure management, understand the links between corporate finance theories underpinning the cost of capital, dividend policy and efficient markets.

Cognitive skills

On completion of this qualification, you’ll be able to:

  • elaborate qualitative and/or quantitative analyses of issues in economics and law facing organisations.
  • critically assess multiple sources of data and information (e.g., regulations, directives, national laws) and judicial cases, and evaluate their intertwining at a national and international level.
  • understand the interaction between law and economic practices in the design and building of international articulated value networks.
  • critically evaluate published research and information across a range of areas relevant to the dissertation topic.
  • assess the relevance of theory for understanding practice.
  • argue coherently and justify a point of view using appropriate information and theoretical concepts.
  • critically assess alternative methods for valuing companies, prepare and evaluate financial appraisals of projects and carry out sensitivity analysis.
  • calculate cost of capital using different methods, evaluate capital structures that may be applied by companies and the implications of these structures for cost of capital and valuation.
  • select, access and evaluate relevant published research and information across a range of areas and its application accessed digitally through the OU library and other web-based resources.
  • carry out supervised research drawing on published research and doing a dissertation.

Practical and/or professional skills

On completion of this qualification, you’ll be able to:

  • identify the ethical aspects involved in complex organizational choices and contracts and their practical implications.
  • be able to learn from the feedback provided and give a constructive feedback to others.
  • identify the knowledge and skills necessary to succeed in different situations which require interdisciplinary approaches.
  • reflect on how knowledge in economics and law can inform practice and next steps of career progression and development.
  • demonstrate sound understanding of financial theory and its application in strategic decision making, appreciate the governance and ethical issues encountered in the finance profession.
  • identify the financial data and present the same in an analytical way, prepare financial appraisal of projects and comment and advise on the mergers and acquisition valuation.
  • devise risk management strategies.
  • manage time effectively, plan a research project.
  • develop as an independent and reflective learner.

Key skills

On completion of this qualification, you’ll be able to:

  • communicate effectively in a professional workplace using a wide range of media and tools for both academic and professional audiences.
  • interact constructively with others and foster positive attitudes developing a supportive work environment.
  • carry out supervised research  drawing on published empirical research.
  • carry out a review of relevant literature, identify themes and apply research skills.
  • professionally present material and argument in an appropriate structure, with clear and accurate referencing.
  • carry out financial calculations for use in corporate finance decisions (for example, investment analysis), including the use of computer spreadsheets, risk and return calculations for individual securities and portfolio of securities.
  • analyse and interpret financial statements and carry out valuation of companies.
  • carry out a review of the literature, identify themes and apply research skills in a selected area, show evidence of digital scholarship by finding, using, managing and sharing information and literature using digital resources.

Teaching, learning and assessment methods

The qualification offers an integrated learning experience using a wide range of teaching and learning resources and assessment approaches. This will include study materials supplied by The Open University or indicated by the University of Bologna, online or face-to-face tuition provided by a dedicated subject specialist tutor, activities including practical exercises, literature review, critiquing and collaboration with other students and, finally, assignments and end-of-module assessments.

The study materials will include a comprehensive range of specially written module materials, case studies, original texts, videos, audios and interactive software. You will also have access to relevant financial databases and statistical software.

At the beginning of your first year a group of module leads will illustrate, through seminars and webinars, the teaching methods used in each university and how they integrate within the educational path. During the first semester of the upcoming academic year (2021/2022) the teaching activities at the University of Bologna will be delivered in blended modality. The decision was taken to ensure that all students can attend their classes and sit exams either remotely or in-person, regardless of the international and local epidemiological situation of COVID-19. You will be asked to schedule your classes through the new Presente App, specifying the attendance mode you prefer (i.e. in person or online). For each of the course modules, a virtual classroom will be set up where you can attend the lessons remotely. Course module contents, readings and teaching methods are published online at the beginning of each academic year. Further and updated information on classes and exams at the University of Bologna is available from their website.

Your tutor is your first point of contact throughout your study both at The University of Bologna and The Open University. They will answer questions on materials, mark OU assignments and run OU online tutorials. At The Open University, you will be part of an online tutor group, with whom you will undertake learning activities and explore topics as you study them. At The University of Bologna, you will be assisted by the Programme coordinator and the Degree Programme tutor. The Degree Programme tutor is a valuable source of information on learning activities, organisation, schedules, and general logistics. Additionally, the tutor offers personalised support to students who struggle to keep up with the programme and exam schedules.

You will be expected to engage in a range of activities including reading texts, solving numerical problems and scenarios, researching, and using relevant literature on contemporary issues in finance, economics and law as well as applying theories to practical situations. Cognitive and practical skills are developed through a range of activities within the modules including prompted and guided search and retrieval of information, literature and databases.

The materials, and the support you receive from your tutor will help you to develop your skills in managing workloads. You will spend a large percentage of time working under your own direction and initiative. Throughout the MSc your progress and learning are measured by assignments and examinations. Assignments and examinations will demonstrate your understanding of principles and relevant theories and their application to problem-solving situations. In addition, these will demonstrate your ability to critically read and comment on academic literature in cognate areas. They will also require evidence of practical and professional skills as well as adequate knowledge and understanding.

The dissertation module will be an independent piece of academic or applied research that will provide you with the opportunity to learn and demonstrate research skills and to develop a deeper understanding of one or more parts of the qualification's curriculum.  The dissertation is split into three interlinked modules, namely Reviewing the literature and adopting a critical stance, Methods in law and economics research, and Producing a dissertation. To start the dissertation process, you must have attained at least 72 CATS in the first year at the University of Bologna (48 CATS in the four compulsory modules plus 24 CATS in elective modules).

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