Unit convenor and teaching staff |
Unit convenor and teaching staff
unit convenor
Wei Cui
refer to iLearn
refer to iLearn
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Credit points |
Credit points
3
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Prerequisites |
Prerequisites
6cp at 200 level including (AFIN250 or AFIN252 or AFIN253)
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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 challenges the student to consider a comprehensive set of factors that influence organisations in their payout, investment and finance decisions within a dynamic framework. The decision might reflect the personality of a CEO, the composition of competitors or expectations about fluctuations in the economy. In this sense, students need to be able to appreciate the differences between theory and practice. Further, students are encouraged to read academic and professional finance journals and the business sections in the daily press. By the end of the unit students should understand: the theoretical and practical implications of the multifaceted nature of risk; the different issues (including flexibility) to be considered, and the different approaches (including real options) available, in valuing risky projects; issues in determining capital structure; the theory and methods used in assessing the costs and benefits of mergers and acquisitions; and the link between corporate governance and finance.
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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:
Assessment criteria for all assessment tasks will be provided on the unit iLearn site.
It is the responsibility of students to view their marks for each within session assessment task 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 marks (not including the final exam mark) will not be addressed.
Name | Weighting | Hurdle | Due |
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Early Diagnostic Quiz | 5% | No | Week 4 |
Test | 20% | No | Week 6 |
Assignment | 25% | No | Week 10 |
Final Examination | 50% | No | University Examination Period |
Due: Week 4
Weighting: 5%
Due: Week 6
Weighting: 20%
Due: Week 10
Weighting: 25%
Due: University Examination Period
Weighting: 50%
Final exam will cover all the topics. Please refer to the information on iLearn.
No dictionaries of any kind are allowed in the final examination. Non–programmable calculators are allowed, provided that they are not capable of storing text. You are permitted ONE A4 page of paper containing reference material printed on both sides. The material may be handwritten or typed. The page will not be returned to you at the end of the final examination. Also refer to information on iLearn available from Week 12.
Type of Collaboration: Individual. Submission: At Examination Venue. Format: Mixed multiple choice, short answer, 'theory', and 'calculation' questions. Refer to iLearn. Length: 2 Hours. Inherent Task Requirements: Please refer to iLearn Late Submission: 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 special consideration is made and approved.Delivery and Resources
Prescribed Text
Berk J. and P. DeMarzo. 2016. Corporate Finance. Global Edition, 4/E, Harlow, UK: Pearson Education Ltd. ISBN 9781292160160
Available for purchase from e.g. the Macquarie University Co-op Bookshop.
Communication Channels
For discussion of subject materials please speak to any of our lecturers and tutors during class time or in consultation. Please keep in mind that most concepts and examples are best explained during face-to-face time.
Academic Consultation
Staff will be available for AFIN353 academic consultation throughout the semester teaching weeks. A schedule of consultation times and locations will be available on iLearn from Week 2.
Administration
For discussion of administrative matters please contact the unit convenor during consultation time (refer to iLearn for schedule).
Delivery
Three hours of face-to-face teaching per week, consisting of one lecture and one tutorial.
Keep in mind that this is a very challenging but interesting course which you will find rewarding in your corporate and everyday lives. By the end of this course you will be able to confidently value most assets including businesses, stocks, bonds, real estate and options.
Lectures commence in Week 1. Tutorial classes commence in Week 2.
The timetable for lectures and tutorial classes is available at URL https://timetables.mq.edu.au/2019/
Audio and Video Recordings
Weekly lecture and tutorials will be recorded in Echo.
Lecture Slides
Available weekly before lecture via iLearn.
Technology Used and Required
The unit will use an on line learning and teaching facility known as iLearn, accessed through the following URL https://ilearn.mq.edu.au/login/MQ.
Students should monitor iLearn content frequently to ensure timely access to announcements, unit material and assessment information.
To complete the Assignment, students will be required to use the Microsoft Excel and Microsoft Word softwares.
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. Financial calculators are allowed. Calculators that have a full alphabet on the keyboard are not allowed. Graphics calculators are not allowed.
Learning Strategies
Tutorial work will be sourced from different resources, including the prescribed textbook. Tutorial work should be attempted before attending tutorials. Brief solutions will be available weekly through iLearn, usually by the end of the week.
Moreover, we recommend:
1) Pre-reading weekly lecture material (refer to iLearn for particulars);
2) Sufficient preparation time - for lectures, tutorials and assessment tasks;
2) Attending all lectures and tutorial classes, as per class lists - while attendance is not compulsory tutors keep a record of weekly attendance, which can be consulted for cases in which an application for disruption to studies is made;
3) Attempting tutorial work weekly, before attending class - tutors will not always be able to cover all assigned tutorial work so they will be glad to explain the harder questions if you politely ask;
4) Bringing the lecture notes to lectures and the assigned homework to tutorials.
Inherent Requirements/Satisfactory Completion
All assessment tasks must be attempted.
Week |
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Lecture Topics |
Activities |
1 | Topic 1 - DCF and Multiples valuation | No tutorials | |
2 | Topic 2 - Cash flow valuation | Weekly tutorials begin | |
3 | Topic 3 - Estimating cost of capital & market efficiency | ||
4 | Topic 4 - Debt & taxes (Capital structure decisions) | Diagnostic quiz (in iLearn) | |
5 | Topic 5 - Capital budgeting & valuation with leverage | ||
6 | Test (refer to iLearn for location information) | No tutorials this week | |
7 |
Topic 6 - Raising equity |
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8 |
Topic 7 - Mergers & Acquisitions |
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9 | Topic 8 - Payout policy | ||
10 | Topic 9 - Financial options | Assignment due (in iLearn) | |
11 | Topic 10 - Real options | ||
12 | Topic 11 - Corporate governance | ||
13 | 'Revision' |
Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:
Undergraduate students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central).
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/study/getting-started/student-conduct
Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) 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 or if you are a Global MBA student contact globalmba.support@mq.edu.au
Supplementary Exams
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
If you are a Global MBA student contact globalmba.support@mq.edu.au
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.
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This graduate capability is supported by:
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This graduate capability is supported by: