Unit convenor and teaching staff |
Unit convenor and teaching staff
Mark Stewart
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
32cp including MGNT602
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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 develops a conceptual framework to understanding modern investments. Students learn about the investment industry, the risk-return relation, asset allocation between risky and risk-free assets, how optimal portfolios are constructed and why they are constructed the way they are. The unit also provides insights in terms of models that explain the cross-section of stock returns, articulating and considering the market efficiency debate, differences between behavioural finance and rational expectations, bond portfolio management, and portfolio insurance techniques (i.e. hedging with derivatives). The unit concludes by examining portfolio performance measurement as the final step in the investment process.
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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 | Hurdle | Due |
---|---|---|---|
In Class Test | 30% | No | Block 2 day tba |
Individual Assignment | 35% | Yes | to be advised in class |
Group assignment | 35% | Yes | to be advised in class |
Due: Block 2 day tba
Weighting: 30%
Duration: To be advised
The In Class Test is a multiple choice quiz. Open book.
It will address topics covered in Block 1.
Additional information, including the date and time of the Quiz (it will be held during Block 2) will be advised in class.
Due: to be advised in class
Weighting: 35%
This is a hurdle assessment task (see assessment policy for more information on hurdle assessment tasks)
Analysis of a short case study.
In response to specific questions, the submission will require quantitative analysis (financial modelling) and qualitative analysis (interpretation of results and other commentary). Marks for quantitative and qualitative questions will be equally weighted.
The case study will be released in Block 1. Students will receive a comprehensive briefing on submission expectations during Block 2. This briefing will include an indicative range of key quantitative resultants such that students will be able to verify their own financial model.
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 special consideration is made and approved. No submission will be accepted after solutions have been posted.
Due: to be advised in class
Weighting: 35%
This is a hurdle assessment task (see assessment policy for more information on hurdle assessment tasks)
4,000 words maximum (excluding appendices). To be submitted via email to mark.stewart@mq.edu.au and in iLearn on 10 March 2019.
The syndicate assignment covers the entire unit and prerequisite courses. Please include email addresses of all syndicate group members on the title page.
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 special consideration is made and approved. No submission will be accepted after solutions have been posted.
50% of the marks for the assignment will be assessed based on individual contribution. Students will be required to complete a Self and Peer Assessment form so that the contribution of individual members in a group can be identified and assessed. Further instructions will be provided on iLearn.
Marking criteria will be made available in class.
Required Text
Bodie, Z., Kane, A. & Marcus, A. (2017) Investments, 11th edition, McGraw Hill, ISBN: 9781259277177
For information on textbook prices and online ordering, please refer to the Co-Op Bookshop webpage at http://www.coop.com.au
Supplementary References and Additional Learning Materials
There are numerous investment texts and professional investment periodicals. You are encouraged to read widely. Supplemental readings and periodical references, respectively, include:
Professional Investor, Personal Investor, The Journal of Investing, Financial Services Review, Money Management, JASSA (The Journal of the Securities Institute of Australia), The Economist, The Australian Financial Review, Business Review Weekly.
MGSM iLearn
The web page for this unit can be found at: https://ilearn.mq.edu.au/login/MGSM
Friday | 18 January 2019 | 9am - 5pm |
Saturday | 19 January 2019 | 9am - 5pm |
Sunday | 20 January 2019 | 9am - 5pm |
Saturday | 2 February 2019 | 9am - 5pm |
Sunday | 3 February 2019 | 9am - 5pm |
Students are required to attend all classes.
The unit will be presented as follows:
Session |
Topic |
Required Textbook Reading |
1 |
The Investment Environment |
Chapters 1-5 |
2 |
Investment Return and Risk |
Chapters 6-7 |
3 |
Individuals and Investing |
Chapters 9-10 |
4 |
Managed Funds Basics; Measuring Managed Funds Performance; Critiquing Managed Funds |
Chapters 4 & 24 |
5 |
Investing in Shares |
Chapters 17 & 25 |
6 |
Investing Principles |
Chapters 18-19 |
7 |
Bond Investments; Bond Valuation; Investment Strategies |
Chapters 14-16 |
8 |
Market Efficiency and Behavioural Finance |
Chapters 11-12 |
9 |
Other Investments: Preference Shares; Convertibles; Derivatives; Hedge Funds; Other Tangibles |
Chapters 21, 22 & 26 |
10 |
Discussion Session on Project; Integration & Review |
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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
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.
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:
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:
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:
No changes from previous offering.
Leadership: Develop skills required of leaders with respect to the synthesis of a wide array of economics information in order to make well-informed and financially robust strategic decisions.
Global mindset: Assessment of the implications of global activity and strategic decisions from an entity perspective, across a wide spectrum of stakeholders.
Citizenship: Apply a true and fair view approach to matters of economic policy making and implementation related to business strategies through consideration of the wider stakeholder implications which may arise from such policies and the subsequent business decisions.
Creating sustainable value: Adoption of a forward-looking perspective on the impact of decisions on the financial position and performance of the entity.
The interactive environment of the classroom is central to the MGSM experience. Students are required to attend the full duration of all classes for the units in which they are enrolled. We recognise that exceptional circumstances may occur, such as unavoidable travel on behalf of your organization or the serious illness or injury of you or a close family member.
Special consideration may be given for a maximum of 20% non-attendance for such circumstances as long as lecturers are contacted in advance, and supporting documentation provided, to request exemption from attendance. Failure to abide by these conditions may result in automatic withdrawal, with academic and/or financial penalty. The full Student Attendance Policy is published in the MGSM Student Handbook at https://students.mgsm.edu.au/handbook.
These unit materials and the content of this unit are provided for educational purposes only and no decision should be made based on the material without obtaining independent professional advice relating to the particular circumstances involved.