Students
AFIN7002 – Finance Empirical
2020 – Session 2, Special circumstance
Notice
As part of Phase 3 of our return to campus plan, most units will now run tutorials, seminars and other small group learning activities on campus for the second half-year, while keeping an online version available for those students unable to return or those who choose to continue their studies online.
To check the availability of face to face activities for your unit, please go to timetable viewer. To check detailed information on unit assessments visit your unit's iLearn space or consult your unit convenor.
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Tom Smith
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|---|---|
| Credit points |
Credit points
10
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| Prerequisites |
Prerequisites
Permission by special approval
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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 introduces students to the empirical methods of modern finance, and will highlight some of the key concepts involved in current empirical work in finance, such as a review of econometrics, intertemporal asset pricing models, CAPM, data issues, serial dependence, etc. After completing the unit, students should be able to reproduce (or otherwise) the results reported in the studies which have been examined.
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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:
- ULO1: Critically assess different financial models by using modern multivariate statistical methods.
- ULO2: Gain expertise in testing empirical models.
- ULO3: Appreciate data acquisition and data issues.
- ULO4: Explore what the editors are looking for in terms of endogeneity sample selection and natural experiments.
- ULO5: Effectively communicate results to an academic audience.
General Assessment Information
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 on iLearn within 20 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.
Late submissions and extensions
Tasks 10% or less – 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.
Tasks above 10% - 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.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Research Assignments | 40% | No | Assignment 1: 16th August; Assignment 2: 27th September |
| Final Examination | 60% | No | During University Examination Period |
Research Assignments
Assessment Type 1: Project
Indicative Time on Task 2: 40 hours
Due: Assignment 1: 16th August; Assignment 2: 27th September
Weighting: 40%
There will be two research assignments. Students will be required to reproduce results reported in the studies and present solutions to the problems generated. The report should not exceed 3,500 words.
On successful completion you will be able to:
- Critically assess different financial models by using modern multivariate statistical methods.
- Gain expertise in testing empirical models.
- Appreciate data acquisition and data issues.
- Explore what the editors are looking for in terms of endogeneity sample selection and natural experiments.
- Effectively communicate results to an academic audience.
Final Examination
Assessment Type 1: Examination
Indicative Time on Task 2: 20 hours
Due: During University Examination Period
Weighting: 60%
A three hour online open book final exam will be held during the University Examination Period.
On successful completion you will be able to:
- Critically assess different financial models by using modern multivariate statistical methods.
- Gain expertise in testing empirical models.
- Appreciate data acquisition and data issues.
- Explore what the editors are looking for in terms of endogeneity sample selection and natural experiments.
1 If you need help with your assignment, please contact:
- the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
- the Writing Centre for academic skills support.
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Delivery and Resources
| Textbooks | There are no required texts for this course. The following books are useful references:
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| Delivery Format and Other Details: | See timetable for classes on the University web site at: http://www.timetables.mq.edu.au/ and below. |
Unit Schedule
| Module 1 | Saturday/ Sunday 25th - 26th July |
| Review of Econometrics
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| Intertemperal Asset Pricing Models |
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| CAPM |
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| Module 2 | Saturday/ Sunday 15th -16th August |
| Data Issues |
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| Serial Dependence |
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| Distribution of Returns |
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| Excess Volatility |
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| Inequality Constraints |
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| Interest Rates |
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| Module 3 | Saturday/ Sunday 26th - 27th September |
| Endogeneity |
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| Corporate Finance |
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| Data Snooping and Spurious Regression |
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| Market Microstructure |
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| Review |
Policies and Procedures
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:
- Academic Appeals Policy
- Academic Integrity Policy
- Academic Progression Policy
- Assessment Policy
- Fitness to Practice Procedure
- Grade Appeal Policy
- Complaint Management Procedure for Students and Members of the Public
- Special Consideration Policy (Note: The Special Consideration Policy is effective from 4 December 2017 and replaces the Disruption to Studies Policy.)
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).
Student Code of Conduct
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
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
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 help you improve your marks and take control of your study.
The Library provides online and face to face support to help you find and use relevant information resources.
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
If you are a Global MBA student contact globalmba.support@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.