Development Finance and Microcredit

The details
Essex Business School
Colchester Campus
Undergraduate: Level 5
Sunday 17 January 2021
Friday 26 March 2021
25 June 2020


Requisites for this module
BE300 or IA157



Key module for


Module description

This module focuses on the crucial role finance has for economic development with particular reference to emerging countries. It is divided into two parts: part 1 'finance and growth' and part 2 'microfinance for economic development'.

Module aims

This module aims to provide students with a good knowledge of the nexus of finance and development and the importance of microfinance in particular for emerging and developing countries. In order to fully appreciate the dynamics of these economies, the topics covered include financial liberalisation, a review of the process of financial institution building in developing and emerging market economies and an analysis of their interactions with the global financial system. In addition, students will be able to learn about microfinance theory and practice, including products and services, risk management issues, sustainability and regulation.

Module learning outcomes

On successful completion of the module, students will be able to:
• Evaluate critically the role of financial markets, institutions and international bodies in economic development in individual countries and worldwide.
• Appraise the nexus between finance and growth.
• Assess main financial risks in developing and emerging economies.
• Appraise the role of microfinance and microcredit as alternatives to banking and financial markets in emerging/developing countries.
• Demonstrate in-depth knowledge as to why financial systems need regulation and supervision and what is special about financial regulation and supervision in developing countries

Module information

After completing this module, students have developed and improved the following employability-related skills:

* Improve your commercial awareness by investigating the current trends in development finance, especially (but not limited to) recent trends in capital flows and capital controls, evolution of financial deepening, and new challenges for emerging markets.
* Enhance your teamwork-collaboration and written communication skills through a coursework group essay
* Develop your research skills through the use of the Global Financial Development database of the World Bank.
* Improve knowledge about the formal and informal banking systems and the importance of microfinance.
* Study and analyse the growth and trends in microfinance and its impact on the developed and developing economies

Learning and teaching methods

This Module is normally delivered through: One two-hour lecture per week for ten consecutive weeks. You are expected to do the relevant reading outlined in the lecture and class programme. It is strongly recommended that you also do additional reading to supplement the lecture material. A 1-hour class every fortnight. Finally, there is a review session in the summer term. In academic year 2020-2021 the delivery is likely to be different and involve online learning.


  • La Torre, Mario; Vento, Gianfranco A. (2006) Microfinance, Basingstoke: Palgrave Macmillan. vol. Palgrave Macmillan studies in banking and financial institutions
  • Dilip K. Das. (2004) Financial globalization and the emerging market economies, London: Routledge. vol. 45
  • Stephen Spratt. (2008) Development finance: debates, dogmas and new directions, New York: Routledge.
  • Armendariz, Beatriz; Morduch, Jonathan. (c2010) The economics of microfinance, Cambridge, Mass: MIT Press.

The above list is indicative of the essential reading for the course. The library makes provision for all reading list items, with digital provision where possible, and these resources are shared between students. Further reading can be obtained from this module's reading list.

Assessment items, weightings and deadlines

Coursework / exam Description Deadline Weighting
Coursework   Group Essay     
Exam  120 minutes during Summer (Main Period) (Main) 

Overall assessment

Coursework Exam
25% 75%


Coursework Exam
25% 75%
Module supervisor and teaching staff
Dr Udichibarna Bose, email:
Udichibarna Bose & Stefano Filomeni



External examiner

Prof Christos Ioannidis
Aston University
Available via Moodle
Of 26 hours, 24 (92.3%) hours available to students:
2 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s).


Further information
Essex Business School

* Please note: due to differing publication schedules, items marked with an asterisk (*) base their information upon the previous academic year.

Disclaimer: The University makes every effort to ensure that this information on its Module Directory is accurate and up-to-date. Exceptionally it can be necessary to make changes, for example to programmes, modules, facilities or fees. Examples of such reasons might include a change of law or regulatory requirements, industrial action, lack of demand, departure of key personnel, change in government policy, or withdrawal/reduction of funding. Changes to modules may for example consist of variations to the content and method of delivery or assessment of modules and other services, to discontinue modules and other services and to merge or combine modules. The University will endeavour to keep such changes to a minimum, and will also keep students informed appropriately by updating our programme specifications and module directory.

The full Procedures, Rules and Regulations of the University governing how it operates are set out in the Charter, Statutes and Ordinances and in the University Regulations, Policy and Procedures.