Students can choose one of two options for completing this unit:

Option #1: requires a student to identify an industry issue from the field of applied finance, critically analyse the current status of the issue, and present and critically evaluate possible responses. In addition to analysing the current state of industry practice, the project will require students to critically review not only academic, but also industry relevant, literature. Where appropriate, the research project should include a demonstration of possible responses by including a case study or pilot empirical analysis. Successful students will have the opportunity to further explore the topic by enrolling in Individual Research Project B, which will require more detailed investigation of the issue using quantitative analysis or resolution by developing an analytical or other solution.

Option #2: A student can produce a business case study and supporting explanatory note as a supervised research project.  The case study writing option will require the presentation of an applied finance industry issue with a focus on an individual organisation affected by that issue.  The case study will cover the current status of the issue, the implications for the organization and be informed by reviewing relevant literature and interviewing industry practitioners. The supporting case study teaching note will provide a critical analysis of the issue drawing upon relevant academic literature and appropriately assess and respond to the issue. This option will not be recognised as a pre-requisite for enrolment in AFCF866 Individual Research Project B.

Assessment Tasks for Option #2 are described in an addendum to this unit guide.

General Unit Information

Prior to enrolling in the research project, students must have an agreed Supervisor, and an approved research topic and work plan. In the first instance, students interested in undertaking this unit should approach the lecturer in their chosen field of interest, or contact the relevant Stream Co-ordinator. Based on the nature of the project, a prospective supervisor(s) may be appointed, and specifications for the research project can be agreed. Only once a prospective Supervisor has agreed to a relevant research proposal can a student enrol in the subject.

Resources to assist in the preparation of the proposal are available on the unit iLearn site. Interested students should ask the relevant Stream Co-ordinator to arrange for access to the site.

To pass this unit (requires a Mark of 50 or better) the student must pass the Research Project for Option #1 or the combination of the Business Case Study and the Explanatory Note for Option #2.

70 hours individual work; plus

5 hours: face to face with supervisor.

Consultation Times: The student and appointed supervisor(s) should agree expectations for the role of the supervisor, especially in terms of provision of feedback and other support.

REQUIRED AND RECOMMENDED TEXTS AND/OR MATERIALS

There are no general required texts or materials for this unit. Specific resources should be agreed with the supervisor as part of the approval process for undertaking the project. The iLearn site contains useful references to assist in the preparation of the research proposal, the preparation of the project and research methods which might be required. General references which may be useful to students are listed below.

Useful References:

Chapter 1, “Framing the Problem” and Chapter 2, “Designing the Analysis”, in Ethan M. Rasiel and Paul N. Friga, The McKinsey Mind, McGrath Hill, 2002 [ebook available via library]

Uma Sekaran and Roger Bougie, Research Methods for Business: A Skill- Building Approach, 6th ed, Wiley, 2013 [available as e-text]

Alana Bryman & Emma Bell, Business Research Methods, 4th ed, Oxford, 2015 [available as e-text]

Barbara Minto, The Pyramid Principle, Financial Times – Pitman Publishing, 1987

Assumed Access:

Access to a computer with word processing and spreadsheet capability is assumed, as is general computer literacy.

TECHNOLOGY USED AND REQUIRED

Unit iLearn Site: 

• Found by logging on to iLearn ilearn.mq.edu.au, then clicking on Individual Research Project.
• This is where you will find links to forums, downloadable resources and other important pages.

Important Notice: 

• It is important that you familiarise yourself with the Unit’s iLearn site.

The plan for completion of the project should be agreed with the Supervisor(s) prior to commencement of the project.

Assessment Tasks

Research Proposal

Due: Refer to iLearn

Weighting: 10%

The Research Proposal should clearly describe the research opportunity, and how it will achieve the stated learning outcomes for the unit. The proposal should demonstrate that the project is feasible, and include a schedule for completion of the project, and any resources, data, software or other material which are required to complete the project in the required time frame.

Students can refer to the iLearn site, which has links to the following article which may be of assistance in preparing a Research Proposal:

Robert, W. Faff, “A Simple template for pitching research”, Accounting and Finance, 55 (2015), 311 – 336.

Summary of Assessment Task

Individual / Group: Individual

Due Date: Refer to iLearn

Grading Method: Refer to 'Standards Required to Complete the Unit Satisfactorily' section

Submission Method: Online via Turnitin on the unit's iLearn  site

Length: 500 words

Extension Requests:

• No extensions will be granted unless prior arrangements have been made with the Supervisor.
• In the absence of such arrangements, late submission will result in zero marks, unless an application for Special Consideration is made and approved. Refer to MAFC Program Rules at www.mafc.mq.edu.au for information on the University’s Special Consideration Policy.
• Note that any late submission of the Research Proposal may result in a delay of the commencement date of the Research Project.

This Assessment Task relates to the following Learning Outcomes:

• Ability to undertake independent original research, including critical analysis and the application of theory and practice.
• Demonstrated understanding of the issues involved in the research topic, the relevant academic literature, current debate as well as relevant principles taught in the MAF units.

Business Case Study

Due: As agreed with Supervisor(s)

Weighting: 45%

The actual format of the project should be agreed with the Supervisor(s) as part of the approval of the project but, in general, should be in the form of a Business Case Study as published by Harvard Business School. Specific guidance will be provided throughout the term.

Summary of Assessment Task

Individual / Group: Individual

Due Date: Refer to the unit's iLearn  site

Grading Method: Refer to 'Standards Required to Complete the Unit Satisfactorily' section

Submission Method: Online via Turnitin on iLearn  site

Duration: Up to 2,500 words

Extension Requests:

• No extensions will be granted unless an application for Special Consideration is made and approved. If you have extenuating circumstances that prevent you from submitting your Business Case Study by the due date, you must apply for Special Consideration as soon as reasonably possible. Refer to MAFC Program Rules at www.mafc.mq.edu.au for information on the University’s Special Consideration Policy.
• Unless such prior arrangements have been made, any late submission of the Business Case Study will automatically be penalised. 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 Assessment Task relates to the following Learning Outcomes:

• Ability to undertake independent original research, including critical analysis and the application of theory and practice;
• Demonstrated understanding of the issues involved in the research topic, the relevant academic literature, current debate as well as relevant principles taught in the MAF units;
• Application of good academic research practice, including ability to source and appropriately acknowledge sources and references;
• Able to communicate to a diverse audience the nature of the research topic, its importance and issues involved in resolving or addressing the research topic.

Explanatory Note

Due: As agreed with Supervisor(s)

Weighting: 30%

The actual format of the project should be agreed with the Supervisor(s) as part of the approval of the project but, in general, should be in the form of an Explanatory Note as published by Harvard Business School. Specific guidance will be provided throughout the term.

Summary of Assessment Task

Individual / Group: Individual

Due Date: Refer to the unit's iLearn site

Grading Method: Refer to 'Standards Required to Complete the Unit Satisfactorily' section

Submission Method: Online via Turnitin on the unit's iLearn  site

Duration: Up to 1,500 words

Extension Requests:

• No extensions will be granted unless an application for Special Consideration is made and approved. If you have extenuating circumstances that prevent you from submitting your Explanatory Note by the due date, you must apply for Special Consideration as soon as reasonably possible. Refer to MAFC Program Rules at www.mafc.mq.edu.au for information on the University’s Special Consideration Policy.
• Unless such prior arrangements have been made, any late submission of the Explanatory Note will automatically be penalised. 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 Assessment Task relates to the following Learning Outcomes:

• Ability to undertake independent original research, including critical analysis and the application of theory and practice;
• Demonstrated understanding of the issues involved in the research topic, the relevant academic literature, current debate as well as relevant principles taught in the MAF units;
• Application of good academic research practice, including ability to source and appropriately acknowledge sources and references;
• Able to communicate to a diverse audience the nature of the research topic, its importance and issues involved in resolving or addressing the research topic.

Presentation

Due: As agreed with supervisor(s)

Weighting: 15%

The presentation is required to be made to a diverse audience, ideally comprising faculty from the Applied Finance Centre and industry representatives. The format should be agreed with the Supervisor(s). The presentation should demonstrate how the learning outcomes of this unit have been met. The student will be assessed both on the presentation delivery and their ability to respond to issues and questions raised by the audience.

Summary of Assessment Task

Individual / Group: Individual

Due Date: As agreed with supervisor(s)

Grading Method: Refer to 'Standards Required to Complete the Unit Satisfactorily' section

Submission Method: As agreed with supervisor(s)

Duration: Oral or visual, equivalent of 750 words or 20 minutes.

Extension Requests:

• No extensions will be granted unless prior arrangements have been made with the Supervisor.
• In the absence of such arrangements, late submission will result in zero marks, unless an application for Special Consideration is made and approved. Refer to MAFC Program Rules at www.mafc.mq.edu.au for information on the University’s Special Consideration Policy.

This Assessment Task relates to the following Learning Outcomes:

• Able to communicate to a diverse audience the nature of the research topic, its importance and issues involved in resolving or addressing the research topic.

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

1. Ability to undertake independent original research, including critical analysis and the application of theory and practice;
2. Demonstrated understanding of the issues involved in the research topic, the relevant academic literature, current debate as well as relevant principles taught in the MAF units;
3. Application of good academic research practice, including ability to source and appropriately acknowledge sources and references;
4. Able to communicate to a diverse audience the nature of the research topic, its importance and issues involved in resolving or addressing the research topic.

Assessment tasks

• Research Proposal
• Business Case Study
• Explanatory Note

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

1. Ability to undertake independent original research, including critical analysis and the application of theory and practice;
2. Demonstrated understanding of the issues involved in the research topic, the relevant academic literature, current debate as well as relevant principles taught in the MAF units;
3. Application of good academic research practice, including ability to source and appropriately acknowledge sources and references;
4. Able to communicate to a diverse audience the nature of the research topic, its importance and issues involved in resolving or addressing the research topic.

Assessment tasks

• Research Proposal
• Business Case Study
• Explanatory Note

PG - Capable of Professional and Personal Judgment and Initiative

Our postgraduates will demonstrate a high standard of discernment and common sense in their professional and personal judgment. They will have the ability to make informed choices and decisions that reflect both the nature of their professional work and their personal   perspectives.

This graduate capability is supported by:

Learning outcomes

1. Ability to undertake independent original research, including critical analysis and the application of theory and practice;
2. Demonstrated understanding of the issues involved in the research topic, the relevant academic literature, current debate as well as relevant principles taught in the MAF units;
3. Application of good academic research practice, including ability to source and appropriately acknowledge sources and references;
4. Able to communicate to a diverse audience the nature of the research topic, its importance and issues involved in resolving or addressing the research topic.

Assessment tasks

• Research Proposal
• Business Case Study
• Explanatory Note

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

1. Ability to undertake independent original research, including critical analysis and the application of theory and practice;
2. Demonstrated understanding of the issues involved in the research topic, the relevant academic literature, current debate as well as relevant principles taught in the MAF units;
3. Application of good academic research practice, including ability to source and appropriately acknowledge sources and references;
4. Able to communicate to a diverse audience the nature of the research topic, its importance and issues involved in resolving or addressing the research topic.

Assessment tasks

• Research Proposal
• Business Case Study
• Explanatory Note

PG - Effective Communication

Our postgraduates will be able to communicate effectively and convey their views to different social, cultural, and professional audiences. They will be able to use a variety of technologically supported media to communicate with empathy using a range of written, spoken or visual formats.

This graduate capability is supported by:

Learning outcomes

1. Ability to undertake independent original research, including critical analysis and the application of theory and practice;
2. Demonstrated understanding of the issues involved in the research topic, the relevant academic literature, current debate as well as relevant principles taught in the MAF units;
3. Application of good academic research practice, including ability to source and appropriately acknowledge sources and references;
4. Able to communicate to a diverse audience the nature of the research topic, its importance and issues involved in resolving or addressing the research topic.

Assessment tasks

• Research Proposal
• Business Case Study
• Explanatory Note
• Presentation

PG - Engaged and Responsible, Active and Ethical  Citizens

Our postgraduates will be ethically aware and capable of confident transformative action in relation to their professional responsibilities and the wider community. They will have a sense of connectedness with others and country and have a sense of mutual obligation. They will be able to appreciate the impact of their professional roles for social justice and inclusion related to national and global issues

This graduate capability is supported  by:

Learning outcomes

1. Ability to undertake independent original research, including critical analysis and the application of theory and practice;
2. Demonstrated understanding of the issues involved in the research topic, the relevant academic literature, current debate as well as relevant principles taught in the MAF units;
3. Application of good academic research practice, including ability to source and appropriately acknowledge sources and references;
4. Able to communicate to a diverse audience the nature of the research topic, its importance and issues involved in resolving or addressing the research topic.

Assessment tasks

• Business Case Study
• Explanatory Note
• Presentation

This Unit Guide may be subject to change. The latest version is on the Centre’s web site at www.mafc.mq.edu.au.

Students should read the Unit Guide carefully at the start of the term. It contains important information about the unit. If anything is unclear, please consult one of the unit Supervisors.

University Policy on Grading:

• Macquarie University’s Academic Senate has established a Grading Policy available at http://www.mq.edu.au/policy/docs/grading/policy.html. Your final result will include: 
  • A Grade ranging from Fail Hurdle to High Distinction; and
  • A numerical Mark which is a summation of the individual assessment components, providing the Research Project for Option #1 or the combination of the Business Case Study and the Explanatory Note for Option #2 is passed.
• It is important to note:
  • The Policy does not require that a minimum or maximum number of students are to be failed in any unit; 
  • Grades will not be allocated to fit a predetermined distribution; and
  • Grades for all individual assessment items will be released to students, but Marks may not necessarily be released.

Specific Unit Grading: 

• To pass this unit (requires a mark of 50 or better) the student must pass the Research Project for Option #1 or the combination of the Business Case Study and the Explanatory Note for Option #2.
• All final Marks and Grades in the Applied Finance Centre are determined by a grading committee and are not the sole responsibility of the unit convenor or Supervisor(s).
• The core criteria used to assess student work in this unit are: 
  • Knowledge and understanding: Understanding key ideas, knowledge and use of concepts.
  • Application: Ability to apply theoretical ideas and frameworks in practice and in a critically reflective way. 
  • Reasoning and analysis: Ability to analyse, use critical reasoning and principles to formulate a position, balancing theory and personal reflection. 
  • Professional literacy and research: Understanding of professional factors (language and landscape) and ability to undertake appropriate research. 
  • Communication and presentation: Ability to communicate and present effectively (written and oral, as relevant).
  • Use of mathematical and statistical ideas: Ability to use mathematical and statistical ideas, methods and formulae appropriately. 
• Performance in relation to each of these criteria are assessed against the University’s grading descriptors:

Review of Grade and final examination Script viewing:

• A student who has been awarded a final grade for a unit and who does not believe it is an accurate reflection of their performance, and has grounds for such a claim and can demonstrate those grounds, may apply to have their grade reviewed. 
• For information on requesting a review of grade and/or viewing your final exam script, please refer to the University’s Grade Appeal Policy at http://www.mq.edu.au/policy/docs/gradeappeal/policy.html and MAFC Program Rules at http://www.mafc.mq.edu.au.