Innovative Finance: Hacking finance to change the world from Coursera

What's inside

Syllabus

Choosing Your Issue Area

Welcome to the first week. We start by defining what innovative finance is and why we need to innovative around financing for social impact. The seven themes of impact we consider are housing, health, education, financial inclusion, agriculture, energy, and water, sanitation, and hygiene. Our case studies are a social enterprise, impact investor, foundation, non-profit and government who are each building innovative financing strategies. You will be investigating why these organisations were created and what the specific issue areas are that they have chosen. We'll encourage you to also start thinking about which of these issue areas resonates with you and what you wish to address in the future. This is the first building block in guiding you to create an innovative financing strategy for yourself.

Understanding Challenges and Roadblocks

This week we are going to look at how you assess the needs, challenges and roadblocks in your issue area. You’ll be introduced to Due Diligence, an essential process that needs to be undertaken to map the problem and solutions landscape of an issue area. Following this, we cover design thinking - a useful tool that can be used when conducting due diligence. It emphasizes the importance of understanding the user perspective when mapping problems and potential solutions. Once we’ve understood the concepts, our case studies explain their approaches to due diligence and impact measurement. For this week’s assignment, you’ll need to pick your issue area and outcome metrics as well as design an engagement plan.

Identifying Resources

Congratulations on reaching week 3! This week we are going to focus on the resources you have to achieve the outcomes in your issue area. The primary goal of this week is to get you to think creatively about your assets, revenue streams and funding sources. We are going to start with how you create revenue from assets that you have already identified and work that you (or others) are already doing. Then we are going to look at the different types of funders you should think about engaging with around resourcing. We will also look at websites to find information about these funders. We will spend a bit of time speaking about a specific type of contract called an outcomes-based contract, which can be an effective tool to create revenue streams from a third party payer. Finally, our cases are going to speak about how they identified resources to address their issue area and work towards their outcomes. You’ll hear the case participants reference the different types of funders that we discuss as well as the opportunity to use an outcomes-based contract. The assignments this week include a graded quiz and creating a resource map. Let’s get going!

Discovering Opportunities

So now that you’ve had engaged with resources, let’s consider the opportunities and risks that you may face when dealing with your issue area. First, you’ll learn how to look for specific types of opportunities outside of your issue area. We’ll draw on the best practices of other sectors or geographies to create new approaches to achieving your outcomes. We’ll then dive into the darker side - the risks that you’ll need to understand and address with your innovative financing strategy. For your assignment, you’ll need to identify the risks and opportunities associated with your issue area.

Designing for Impact

Congratulations on reaching the final week of the course! It’s a short week ahead. Here we introduce you to the five stages of the innovative finance process, which you have been working through during the past four weeks. This week we have arrived at the design process. This requires us to look back over what we’ve done to create a design for our innovative financing strategy. In this week our cases tells us how they designed for impact. Following this, I provide a summary of the cases from week 1 to week 5 and how it relates to the innovative finance process. We end off the course with an exam, covering everything we have learned, and also an optional honours assignment. In this assignment we want you to design your Innovative Finance Strategy.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores innovative financing strategies to address global poverty, a topic of high relevance to international development

Taught by experts in finance and social entrepreneurship, Auni Patton Power and Tsakane Ngoepe

Provides a structured process for developing innovative financing strategies, covering key components such as identifying outcomes, due diligence, resource mapping, and design

Emphasizes the application of finance to social and environmental issues, making it relevant for individuals interested in impact investing and sustainable development

Requires familiarity with basic finance concepts and some experience in social impact

May not be suitable for beginners with no prior knowledge of finance or social impact

Reviews summary

Engaging finance course

According to students, this course is engaging, well-structured, and full of useful information. Learners say the case studies and practical assignments are particularly helpful. Overall, this course is highly recommended for those interested in innovative finance and social impact.

Valuable case studies

"The case studies were great for concretising concepts."

"The case studies are really good and the step by step design application process is really effective."

"I enjoyed the weekly lectures that were professionally produced with succinct and direct-to-the-point information."

Course provides useful information

"Great course for introducing Sustainable Finance and impact investing!!"

"Strongly recommend this course. The content and delivery are well-designed."

"Was a very informative course. Worth the time spent doing the various assignments."

Assignments apply course content

"The assignments were a tad painful but well worth it to apply the course content and to engage us."

"Great course with quality video materials and clear and practical case studies. It's a great introduction to key concepts in innovative finance."

"Excellent material, case studies and instructors"

Peer review system needs improvement

"Please Make peer to peer graded assesments optional"

"Course is very nice but during checking assignments classmates are very less . Only few students checking assignments. Grades came too late.Even my 2 nd ,3rd and 4th assignment not checked .Please noted that."

"The course is wonderful and very enriching . Overall loved the content but I wish the system of peer review grading is inefficient I would prefer grading ,would be more directly related to the quizzes than to abstract peer reviews."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Innovative Finance: Hacking finance to change the world with these activities:

Compile Your Resources

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Before starting the course, gather and organize your notes, assignments, quizzes, and exams. This will provide a solid foundation for your learning.

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Go through the course syllabus
Organize your notes and materials
Review the course materials

Compile a Database of Finance Resources

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Organize and curate a collection of resources that will support your learning throughout the course.

Browse courses on Financial Data

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Identify and gather relevant articles, websites, and other resources related to the course material.
Categorize and organize the resources into a logical structure.
Develop a system for accessing and updating the database as needed.

Follow a Finance Tutorial Series

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Gain a deeper understanding of the course material by following a structured tutorial series.

Browse courses on Financial Modeling

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Identify a tutorial series that aligns with the course content.
Follow the tutorials in sequence, taking notes and practicing the techniques.
Apply the knowledge gained from the tutorials to the course assignments.

Three other activities

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Practice Finance Calculations

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Develop proficiency in the financial calculations that form the basis of this course.

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Review the coursework on financial calculations.
Use an online financial calculator or spreadsheet to practice calculations.
Create a set of practice problems based on the course materials.

Attend a Finance Workshop

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Engage with financial professionals and gain practical insights into the field.

Browse courses on Impact Investing

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Research and identify a finance workshop that complements the course material.
Attend the workshop, actively participate in discussions, and take detailed notes.
Connect with other attendees and exchange ideas on the topics covered in the course.

Mentor a Junior Finance Professional

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Reinforce your understanding of the course material while supporting the development of others.

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Identify a junior finance professional who would benefit from your guidance.
Meet with your mentee regularly to provide support, advice, and feedback.
Share your knowledge and experience on the topics covered in the course.

Career center

Learners who complete Innovative Finance: Hacking finance to change the world will develop knowledge and skills that may be useful to these careers:

Financial Analyst

Financial analysts provide financial advice to individuals and businesses. They work in a variety of industries, including banking, finance, and investment management. The course "Innovative Finance: Hacking finance to change the world" can be helpful for financial analysts by providing them with a foundation in financial concepts and analysis techniques. The course can also help financial analysts develop the skills they need to communicate their findings to decision-makers.

See salaries and explore the career path for Financial Analyst

Actuary

Actuaries use mathematical and statistical methods to assess risk and uncertainty. They work in a variety of industries, including insurance, finance, and consulting. The course "Innovative Finance: Hacking finance to change the world" can be helpful for actuaries by providing them with a foundation in financial concepts and risk management techniques. The course can also help actuaries develop the skills they need to communicate their findings to decision-makers.

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Portfolio Manager

Portfolio managers manage investment portfolios for individuals and businesses. They work in a variety of industries, including banking, finance, and investment management. The course "Innovative Finance: Hacking finance to change the world" can be helpful for portfolio managers by providing them with a foundation in financial concepts and portfolio management techniques. The course can also help portfolio managers develop the skills they need to communicate their findings to decision-makers.

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Sustainability Analyst

Sustainability analysts assess the environmental and social performance of organizations and investments. They work in a variety of industries, including non-profit, government, and finance. The course "Innovative Finance: Hacking finance to change the world" can be helpful for sustainability analysts by providing them with a foundation in financial concepts and sustainability assessment techniques. The course can also help sustainability analysts develop the skills they need to communicate their findings to decision-makers.

See salaries and explore the career path for Sustainability Analyst

Impact Investor

Impact investors invest in companies and organizations that have a positive social or environmental impact. They work in a variety of industries, including technology, healthcare, and clean energy. The course "Innovative Finance: Hacking finance to change the world" can be helpful for impact investors by providing them with a foundation in financial concepts and impact investing techniques. The course can also help impact investors develop the skills they need to communicate their findings to decision-makers.

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Wealth Manager

Wealth managers provide financial advice and investment management services to high-net-worth individuals and families. They work in a variety of industries, including banking, finance, and investment management. The course "Innovative Finance: Hacking finance to change the world" can be helpful for wealth managers by providing them with a foundation in financial concepts and wealth management techniques. The course can also help wealth managers develop the skills they need to communicate their findings to decision-makers.

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Development Finance Specialist

Development finance specialists provide financial advice and support to developing countries and emerging markets. They work in a variety of organizations, including the World Bank, the United Nations, and non-profit organizations. The course "Innovative Finance: Hacking finance to change the world" can be helpful for development finance specialists by providing them with a foundation in financial concepts and development finance techniques. The course can also help development finance specialists develop the skills they need to communicate their findings to decision-makers.

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Venture Capitalist

Venture capitalists invest in early-stage companies with high growth potential. They work in a variety of industries, including technology, healthcare, and clean energy. The course "Innovative Finance: Hacking finance to change the world" can be helpful for venture capitalists by providing them with a foundation in financial concepts and venture capital investment techniques. The course can also help venture capitalists develop the skills they need to communicate their findings to decision-makers.

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Investment Analyst

Investment analysts provide investment advice to individuals and businesses. They work in a variety of industries, including banking, finance, and investment management. The course "Innovative Finance: Hacking finance to change the world" can be helpful for investment analysts by providing them with a foundation in financial concepts and investment analysis techniques. The course can also help investment analysts develop the skills they need to communicate their findings to decision-makers.

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Social Impact Analyst

Social impact analysts assess the social and environmental impact of organizations and investments. They work in a variety of industries, including non-profit, government, and finance. The course "Innovative Finance: Hacking finance to change the world" can be helpful for social impact analysts by providing them with a foundation in financial concepts and social impact assessment techniques. The course can also help social impact analysts develop the skills they need to communicate their findings to decision-makers.

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Financial Manager

Financial managers oversee the financial operations of organizations. They work in a variety of industries, including business, government, and non-profit. The course "Innovative Finance: Hacking finance to change the world" can be helpful for financial managers by providing them with a foundation in financial concepts and management techniques. The course can also help financial managers develop the skills they need to communicate their findings to decision-makers.

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Risk Manager

Risk managers assess and manage risks for organizations. They work in a variety of industries, including banking, finance, and insurance. The course "Innovative Finance: Hacking finance to change the world" may be useful for risk managers by providing them with a foundation in financial concepts and risk management techniques. The course can also help risk managers develop the skills they need to communicate their findings to decision-makers.

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Credit Analyst

Credit analysts assess the creditworthiness of individuals and businesses. They work in a variety of industries, including banking, finance, and insurance. The course "Innovative Finance: Hacking finance to change the world" may be useful for credit analysts by providing them with a foundation in financial concepts and credit analysis techniques. The course can also help credit analysts develop the skills they need to communicate their findings to decision-makers.

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Auditor

Auditors examine financial records to ensure that they are accurate and in compliance with regulations. They work in a variety of industries, including accounting, finance, and government. The course "Innovative Finance: Hacking finance to change the world" may be useful for auditors by providing them with a foundation in financial concepts and auditing techniques. The course can also help auditors develop the skills they need to communicate their findings to decision-makers.

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Budget Analyst

Budget analysts develop and manage budgets for organizations. They work in a variety of industries, including government, non-profit, and healthcare. The course "Innovative Finance: Hacking finance to change the world" may be useful for budget analysts by providing them with a foundation in financial concepts and budgeting techniques. The course can also help budget analysts develop the skills they need to communicate their findings to decision-makers.

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