The aim of this non-technical course is to develop an understanding of modern finance theory and practice for organisations managing cultural heritage. It provides the basic concepts, fundamental approaches and key tools for aspiring decision makers who do not necessarily hold financial positions or backgrounds. It equips students with state-of-the art tools, methodologies and ideas needed in making and analysing the two key decisions in finance concerning Investments and Financing. Participants understand the key issues affecting finance decisions, appreciate the risk-return trade-off and are enabled to evaluate capital investment projects using different methodologies. Students become familiar with the key goals, concepts, stakeholders, problems, decisions, variables, imitations and tools involved in the financial management of an archaeological site as a tourist destination. They are enabled to build simple budgets and financial forecasts and utilise them in order to substantiate business plans and capital budgeting decisions. Finally, they understand the various financing options, sources and procedures that are available for funding investments.
This module appears in:
2 hours per week
This module is core for students studying on the MA in Heritage Management.
Method of assessment
40% coursework; 60% examination
S ROSS, R WESTERFIELD & B JORDAN – ‘Essentials of Corporate Finance’, 7th ed., Mcgraw Hill (RWJ);
HARVARD BUSINESS ESSENTIALS – ‘Finance for Managers’, Harvard Business Press (HBP), 2003
Students will be able to understand the key issues affecting finance decisions;
Students will be able to evaluate capital investment projects using different methodologies;
Students will be able to build simple budgets and financial forecasts;
Students will be able to understand various financing options, sources and procedures for funding investments