Unit convenor and teaching staff |
Unit convenor and teaching staff
Moderator
Timothy Kyng
Unit Convenor
Wei Cui
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Credit points |
Credit points
3
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Prerequisites |
Prerequisites
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit provides an introduction to the pricing of financial instruments and the functions of the Australian financial system. Students apply mathematical concepts in valuing a range of financial assets including loans, bonds, shares and investments. They also increase their financial literacy by learning about financial institutions, financial markets, risks and regulation. Spreadsheet skills are introduced throughout the unit. A background of HSC Mathematics or equivalent numerical competency is assumed. Students who have not studied the necessary mathematics are advised to complete Mathematics 123 (MATH123) before enrolling in ACST101. The concepts developed in this unit are required in subsequent actuarial studies and finance units. The unit also provides a practical introduction to finance for students not planning to continue with study in the area.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Name | Weighting | Due |
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Weekly Quizzes | 20% | week 2 to week 12 |
Class Tests | 20% | Week 5 and Week 9 |
Final Examination | 60% | University Examination Period |
Due: week 2 to week 12
Weighting: 20%
Submission
For each of the 11 weekly online quizzes, students use iLearn to obtain the questions, enter the answers and view the solutions. Before students can access Quiz 1 due in Week 3 they must score 100% in the Unit Requirements Quiz and at least 80% in both the Maths Revision Quiz and the Practice Quiz.
Extension
No extensions will be granted. Students who have not submitted a quiz prior to the deadline will be awarded a mark of 0 for the quiz, except for cases in which an application for special consideration is made and approved.
What is required to complete the unit satisfactorily
A satisfactory attempt by the due date is required for at least 8 quizzes. A definition of satisfactory is given in the Unit Requirements Quiz.
Calculation of Overall Quiz mark
The marks for all 11 quizzes are used to calculate the final assessment mark out of 20 based on quizzes. Quiz 1 and Quiz 2 count for 1 mark each and Quizzes 3 to 11 count for 2 marks each.
Due: Week 5 and Week 9
Weighting: 20%
Date of Class Tests Class
Class Test 1 will be held in the first hour of the two hour lecture in Week 5.
Students must attend at the lecture time for which they are enrolled.
Class Test 2 will be held in the first hour of the two hour lecture in Week 9.
Extension
No extensions will be granted. Students who do not sit for the test will be awarded a mark of 0 for the test, except for cases in which an application for special consideration is made and approved.
Topics Tested Class
Tests will be based on the following lecture topics from the Unit Schedule:
Test 1
Techniques: Weeks 1, 2, 3
Elements: Weeks 2, 3
Test 2
Techniques: Weeks 4, 5, 6
Elements: Weeks 4, 6, 7
Full details of the Class Tests will be given on iLearn. The 2 Class Tests each count 10% of the final assessment. A list of basic formulae available on iLearn will be supplied to students.
Due: University Examination Period
Weighting: 60%
Examination conditions
The closed book final examination will contain questions from all techniques and all elements lectures. It will be a three hour written paper with 10 minutes reading time. Part A will consist of 45 multiple choice questions on both techniques and elements. Part B will contain 3 questions requiring the application of the techniques section to practical problems.
What is required to complete the unit satisfactorily
To be eligible for a passing grade in this unit, a pass is required in the final examination as well as all other assessments in this unit.
Learning and Teaching Activities
There are 3 hours of face-to-face teaching per week consisting of one 2 hour lecture and one 1 hour tutorial. Class time can be found at MQC Student Portal:http://student.mqc.edu.au
Lectures
The Elements lecture is held in the first hour of the 2 hour class. The Techniques lecture is held in the second hour of the 2 hour class. The lecture notes for both techniques lectures and elements lectures are available from ACST101 iLearn. A copy should be brought to each lecture.
Tutorials
Tutorials which are held weekly commence in the second week of the semester. To prepare for each weekly tutorial, print a copy of the Tutorial Exercises from iLearn and attempt the first few questions eg for the Week 2 tutorial you should attempt Q1 to Q4 of the Tutorial Exercises on Week 1. Check on eStudent for the location of your tutorial. Some tutorial rooms may have been changed since you enrolled. You must attend your allocated tutorial.
Required and Recommended Texts and/or Materials
Refer to the booklist for this unit. Although this unit usually prescribe two textbooks, focus should be placed more on the materials delivered in Lectures. Namely the lecture notes and tutorial questions.
Technology Used and Required
Calculators
Calculators will be allowed in the class tests and the final examination but a clear indication of the steps involved in every calculation must be shown. Non-programmable calculators with no text-retrieval capacity are allowed. Calculators that have a full alphabet on the keyboard are not allowed. Graphics calculators are not allowed. You will need a calculator which has xy or ^, 1/x and log or ln functions, and a memory.
Unit Web Page
Course material is available on learning management system (iLearn). The web page for this unit can be found at http://ilearn.mq.edu.au The following are available on the website:
1. Lecture notes and Revision Exercises for "Techniques".
2. Lecture notes and internet exercises for "Elements".
3. Tutorial Exercises and solutions.
4. Quizzes.
5. Class Test solutions for the past two semesters and the current semester.
6. Final Examination papers and solutions.
Teaching and Learning Strategy
This unit is taught via lectures and tutorials. Tutorial exercises will be provided for each tutorial so that you can practise applying the results developed in lectures. Weekly online quizzes will encourage you to revise the material regularly. Understanding of concepts is required rather than memorisation of formulae. It is essential that you work steadily and consistently over the whole semester. Each topic builds on the previous one. It is extremely difficult to catch up if you fall behind.
Support Class
For information on the support classes, please refer to iLearn. Attendance is NOT compuslory however it is strongly encouraged that students utilise these classes to ask questions in relation to the unit material.
What has changed?
There hasn't been any major change to the teaching material in this unit since Session 1 of 2014.
Week | Elements and Class Tests | Techniques |
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1 | Unit Overview | Simple interest & simple discount |
2 | Element Overview | Compound interest 1 |
3 | Banks | Compound interest 2 |
4 | RBA, Bank regulation | Annuities 1 |
5 | Class test 1 | Annuities 2 |
6 | Non-bank institutions 1 | Annuities 3 |
7 | Non-bank institutions 2 | Mortgage loans |
8 | Corporate finances and instruments | Flat rate loans, NPV, IRR |
9 | Class test 2 | Bonds & debentures |
10 | Government finances and instruments | Tax on bonds |
11 | Derivatives | Varying annuities |
12 | Techniques revision | Sinking funds and capitalised cost |
13 | Elements revision | Techniques revision |
Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://mq.edu.au/policy/docs/assessment/policy.html
Grading Policy http://mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html
Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
For all student enquiries, visit Student Connect at ask.mq.edu.au
For help with University computer systems and technology, visit http://informatics.mq.edu.au/help/.
When using the University's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students.
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