Students
AFIN867 – International Financial Management
2017 – S2 External
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Damian Bridge
Please check iLearn for consultation details
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| Credit points |
Credit points
4
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| Prerequisites |
Prerequisites
ACST603 or AFIN858
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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 is concerned with the analytical techniques of international finance and investment. Topics include global flow of funds and international financial markets, foreign exchange markets, interest parity, arbitrage and currency speculation, purchasing power parity, real effective exchange, commodity swaps, short and long-term hedging of foreign currency risks, futures and options in currencies.
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Important Academic Dates
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
Learning Outcomes
On successful completion of this unit, you will be able to:
- Understand and appreciate changes in the global financial market that impact on international financial management.
- Demonstrate an understanding of new investment techniques, markets and risk management models.
- Critically evaluate advanced concepts relating to foreign exchange, financial derivatives, transaction exposure, capital structure and international portfolio theory.
General Assessment Information
It is the responsibility of students to view their marks for each within session assessment on iLearn within 20 working days of posting. If there are any discrepancies, students must contact the unit convenor immediately. Failure to do so will mean that queries received after the release of final results regarding assessment tasks (not including the final exam mark) will not be addressed. Assessment criteria for all assessment tasks will be provided on the unit iLearn site.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Quizzes | 5% | No | 23 August 2017 |
| Written Presentation | 10% | No | Friday 1 September 2017 2pm |
| Assignment | 25% | No | Friday 27th October 2pm |
| Final Exam | 60% | No | Saturday 11th November |
Quizzes
Due: 23 August 2017
Weighting: 5%
This will consist of an early semester task (5%). Please use this assessment task 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.
No extensions will be granted. Students who have not submitted the task prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for disruptions to studies is made and approved.
On successful completion you will be able to:
- Understand and appreciate changes in the global financial market that impact on international financial management.
- Demonstrate an understanding of new investment techniques, markets and risk management models.
- Critically evaluate advanced concepts relating to foreign exchange, financial derivatives, transaction exposure, capital structure and international portfolio theory.
Written Presentation
Due: Friday 1 September 2017 2pm
Weighting: 10%
In this assignment you will create a presentation researching a supplied finance article.
This requires the creation of a presentation in powerpoint (but not presenting it).
No extensions will be granted. Students who have not submitted the task prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for disruptions to studies is made and approved.
Submission must be made online via iLearn.
On successful completion you will be able to:
- Understand and appreciate changes in the global financial market that impact on international financial management.
- Demonstrate an understanding of new investment techniques, markets and risk management models.
- Critically evaluate advanced concepts relating to foreign exchange, financial derivatives, transaction exposure, capital structure and international portfolio theory.
Assignment
Due: Friday 27th October 2pm
Weighting: 25%
This will be an individual assignment requiring participation in discussion boards.
Please be aware that this assignment requires weekly participation in the later half of the semester.
Extension
No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply for cases in which an application for disruption of studies is made and approved. No submission will be accepted after solutions have been posted.
Submissions must be made online via iLearn.
On successful completion you will be able to:
- Understand and appreciate changes in the global financial market that impact on international financial management.
- Demonstrate an understanding of new investment techniques, markets and risk management models.
- Critically evaluate advanced concepts relating to foreign exchange, financial derivatives, transaction exposure, capital structure and international portfolio theory.
Final Exam
Due: Saturday 11th November
Weighting: 60%
Online open book examination.
There will be a window for students to sit the exam. The exam will be 120 minutes in duration. Once the exam is started it must be completed.
On successful completion you will be able to:
- Understand and appreciate changes in the global financial market that impact on international financial management.
- Demonstrate an understanding of new investment techniques, markets and risk management models.
- Critically evaluate advanced concepts relating to foreign exchange, financial derivatives, transaction exposure, capital structure and international portfolio theory.
Delivery and Resources
Students should study the online resources contained within iLearn.
· Students should review the study plan suggestions in ilearn.
Prizes
· Prizes for this unit (if applicable). http://www.businessandeconomics.mq.edu.au/undergraduate_degrees/prizes_scholarships
Required and Recommended texts and/or materials
· International Financial Management: 7th Edition Eun & Resnick, Publisher: McGraw-Hill Irwin Copyright
· Set chapters for each topic’s lecture are drawn from this text and identified in the lecture topic table below. Students should read these chapters prior to the lecture, so that they are familiar with the material to be covered. This will greatly enhance your learning experience.
· Required texts can be purchased from the Macquarie University Co-op Bookshop.
Technology Used and Required
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Financial non-programmable calculators can be used in the unit. A financial calculator is not essential as a scientific non-programmable calculator should meet all your needs (calculation of the Internal Rate of Return (IRR) is not required in any of the assessment tasks). Note: Only non-programmable calculators without text retrieval functionality are allowed for use in the unit’s assessments tasks.
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Excel or similar spreadsheeting tool will be required to complete the assignment.
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Students should have access to the internet.
Unit Web Page
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Course material and announcements are available on the learning management system (iLearn).
Unit Schedule
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Subject |
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Topic |
Chapters |
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1 |
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Foundations of International Financial Management 1
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1 & 2 |
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2 |
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Foundations of International Financial Management 2
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3 & 4 |
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3 |
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The Foreign Exchange Market 1
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5 & 6 |
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4 |
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The Foreign Exchange Market 2
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7 |
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5 |
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Foreign Exchange Exposure |
8 & 9
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6 |
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World Financial Markets 1 |
11 |
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7 |
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World Financial Markets 2 |
12 & 13
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8 |
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World Financial Markets 3 |
14 |
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9 |
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Financial Management of the Multinational Firm 1 |
16 & 17 |
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10 |
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Financial Management of the Multinational Firm 2 |
18, 19 & 20
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All chapters relate to the relevant chapter numbers in the prescribed textbook.
Policies and Procedures
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_2016.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 (in effect until Dec 4th, 2017): http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
Special Consideration Policy (in effect from Dec 4th, 2017): https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Student Code of Conduct
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Results
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.
Supplementary exams
Information regarding supplementary exams, including dates, is available at:
Student Support
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Student Services and Support
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
Student Enquiries
For all student enquiries, visit Student Connect at ask.mq.edu.au
IT Help
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
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.
Graduate Capabilities
PG - Discipline Knowledge and Skills
Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Learning outcomes
- Understand and appreciate changes in the global financial market that impact on international financial management.
- Demonstrate an understanding of new investment techniques, markets and risk management models.
- Critically evaluate advanced concepts relating to foreign exchange, financial derivatives, transaction exposure, capital structure and international portfolio theory.
Assessment tasks
- Quizzes
- Written Presentation
- Assignment
- Final Exam
PG - Critical, Analytical and Integrative Thinking
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
Learning outcomes
- Understand and appreciate changes in the global financial market that impact on international financial management.
- Demonstrate an understanding of new investment techniques, markets and risk management models.
- Critically evaluate advanced concepts relating to foreign exchange, financial derivatives, transaction exposure, capital structure and international portfolio theory.
Assessment tasks
- Quizzes
- Written Presentation
- Assignment
- Final Exam
PG - Research and Problem Solving Capability
Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.
This graduate capability is supported by:
Learning outcomes
- Understand and appreciate changes in the global financial market that impact on international financial management.
- Demonstrate an understanding of new investment techniques, markets and risk management models.
- Critically evaluate advanced concepts relating to foreign exchange, financial derivatives, transaction exposure, capital structure and international portfolio theory.
Assessment tasks
- Quizzes
- Written Presentation
- Assignment
- Final Exam
Changes from Previous Offering
Removal of 4 online quizzes (5%)
Research and Practice
· This unit gives you opportunities to conduct your own research