Unit convenor and teaching staff |
Unit convenor and teaching staff
Lecturer
Lorenzo Casavecchia
Contact via email
Room 517, Building E4A
TBC
Angela Chow
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Credit points |
Credit points
3
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Prerequisites |
Prerequisites
(15cp including ((AFIN100 or AFIN102 or ACST152) and (ACCG100 or ACCG106) and (STAT150 or STAT170 or STAT171))) or ACST252
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
The investment industry has experienced rapid change over the past three decades. Many of these changes in the investment environment are discussed in this unit. An important theme of the unit is that developed markets are near-informational-efficient - that higher expected returns only come by bearing greater investment risk. Throughout the unit a modern portfolio theory approach is applied, focussing on the implications of efficient diversification, in providing a proper measurement of risk and the risk-return relationship. The asset allocation choice is also considered in depth, as it is a primary determinant of the risk-return profile of the investment portfolio. In summary, the unit introduces the principles of valuation as applied to a broad range of asset classes including models of equity valuation, debt valuation, commodities, private equity, and alternative investments such as distressed securities and real estate.
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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:
The following apply to the class tests and the final examination:
For all assessments:
Name | Weighting | Due |
---|---|---|
Online quiz | 10% | 19 August 2016, 5:00 pm |
Mid-semester test | 30% | Week 7 in lecture |
Final examination | 60% | University examination period |
Due: 19 August 2016, 5:00 pm
Weighting: 10%
The online quiz will cover the topics studied during weeks 1 and 2.
Students who do not complete the online quiz will be awarded a mark of 0 for the online quiz, except for cases in which an application for disruption of studies is made and approved.
Please use the online quiz as an indicator of whether you are progressing satisfactorily in the unit. If you are having difficulties, please see the Unit Convenor and consider withdrawing before the census date on Friday of week 4.
Due: Week 7 in lecture
Weighting: 30%
The mid-semester test will cover the topics studied during weeks 1 to 6 inclusive.
Students who do not sit for the mid-semester test will be awarded a mark of 0 for the mid-semester test, except for cases in which an application for disruption of studies is made and approved.
Due: University examination period
Weighting: 60%
The final exam will cover the topics studied throughout the semester. The final exam will be scheduled in the examination period.
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Students are required to enrol in one two-hour lecture and one one-hour tutorial per week and attend the lecture and tutorial in which they are enrolled. See details from the timetable.
Lectures are used to set the scene and show how the topic fits into the overall unit of study aims. Tutorials are essential for helping you to further your understanding and apply concepts to more difficult problems. Participation is strongly encouraged for you to check your progress towards achieving the learning outcomes for the unit.
The textbook for the unit is Bodie, Z., Kane, A. and Marcus, A.J. (2016), Essentials of Investments, 10th edition, McGraw-Hill (denoted BKM on the reading list). Textbook material will be supplemented by articles and handouts. Chapters from the textbook and specified articles should be read prior to attending the scheduled lecture on that topic. Homework problems will be assigned at the end of lectures and these should be completed before coming to the tutorial the following week. Important handouts can be downloaded from the unit's iLearn site.
iLearn (https://ilearn.mq.edu.au) provides the main online learning support. It is essential that you log in at least twice per week to keep abreast of unit-wide announcements and use the resources to supplement your learning. Lecture slides are available by the Friday before each lecture for you to download from iLearn. Solutions to homework problems are made available online after the problems are discussed in the tutorial.
The multiple choice quizzes available with the textbook are a useful revision resource.
Week |
Commencing |
Topic |
Readings |
1 | 1 August | Introduction | BKM chapters 1 and 2 |
2 | 8 August | Investment vehicles | BKM chapters 3 and 4 |
3 | 15 August | Risk and return | BKM chapter 5 |
4 | 22 August | Efficient diversification | BKM chapter 6 |
5 | 29 August | Asset pricing | BKM chapter 7 |
6 | 5 September | Market efficiency | BKM chapters 8 and 9 |
7 | 12 September | Mid-semester test | |
Mid-semester break | |||
8 | 4 October | Fixed income securities | BKM chapters 10 and 11 |
9 | 10 October | Industry analysis | BKM chapter 12 |
10 | 17 October | Equity securities | BKM chapters 13 and 14 |
11 | 24 October | Options contracts | BKM chapters 15 and 16 |
12 | 31 October | Futures contracts | BKM chapter 17 |
13 | 7 November | Review |
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
New Assessment Policy in effect from Session 2 2016 http://mq.edu.au/policy/docs/assessment/policy_2016.html. For more information visit http://students.mq.edu.au/events/2016/07/19/new_assessment_policy_in_place_from_session_2/
Assessment Policy prior to Session 2 2016 http://mq.edu.au/policy/docs/assessment/policy.html
Grading Policy prior to Session 2 2016 http://mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.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.
Further information regarding supplementary exams, including dates, is available here
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
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When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.
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