Students
AFAS300 – Principles of Financial Literacy
2013 – S1 External
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Peter Mordaunt
Contact via peter.mordaunt@mq.edu.au
As this course is an online course students can consult with staff through iLearn or through the e-mail addresses above. Students experiencing significant difficulties with any topic in the unit must seek assistance immediately.
Other Staff
Mehdi Sadeghi
Contact via mehdi.sadeghi@mq.edu.au
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| Credit points |
Credit points
3
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| Prerequisites |
Prerequisites
39cp
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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 financial literacy to enable students to understand what is needed to achieve a lifestyle that is financially sustainable, ethical and responsible. The key areas of financial goals, budgeting, investments, superannuation, and common contracts and employment structures are explored. On completion of the unit students will be able to set financial goals, establish a working budget, understand and distinguish between different investment instruments, understand the key features of superannuation in Australia and understand the implications of common financial contracts and employment structures. These outcomes aim to develop students' discipline-specific knowledge, research and problem solving skills, personal judgement, and an understanding of the need for continuous learning.
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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:
- Be able to describe the role of financial goals and develop personal financial goals.
- Be able to construct and maintain a working budget.
- Be able to compare and contrast common investment and debt instruments.
- Be able to compare and contrast common investment and debt instruments.
- Be able to describe the features and implications of common financial contracts
- Be able to compare and contrast different "employment" structures.
Assessment Tasks
| Name | Weighting | Due |
|---|---|---|
| Module Assignments | 4% | See timetable in iLearn |
| Quizzes | 36% | See timetable in iLearn |
| Essays | 25% | See timtable in iLearn |
| Final Examination | 35% | Eaxamination period |
Module Assignments
Due: See timetable in iLearn
Weighting: 4%
Warning
This is an online course and therefore it is the student's responsibility to have available and access to the technology to access the material and to complete the tasks. No exceptions or extensions will be granted because of issues with the student's technology, the student's internet provider or the student's internet connectivity.
Submission
All assignments are lodged on-line
Module 1 Assignment due mid-night Monday 4th March 2103
Module 2 Assignment due mid-night Monday 11th March 2013
Extension
No extensions will be granted. Students who have not subm itted an assignm ent prior to the deadline will be awarded a m ark of 0 for that assignment, except for cases in which an application for special consideration is made and approved.
Penalties
See "extensions" above
What is required to complete the unit satisfactorily.
Studnets must pass the final exam.
On successful completion you will be able to:
- Be able to describe the role of financial goals and develop personal financial goals.
- Be able to construct and maintain a working budget.
Quizzes
Due: See timetable in iLearn
Weighting: 36%
Warning
This is an online course and therefore it is the student's responsibility to have available and access to the technology to access the material and to complete the tasks. No exceptions or extensions will be granted because of issues with the student's technology, the student's internet provider or the student's internet connectivity.
All quizzes will conducted on-line
Module 3
Quizzes wiil open at 7.00 am and close at 7.00 pm on the day.
Quiz 1 18th March 2013
Quiz 2 25th March 2013
Quiz 3 2nd April 2013
Quiz 4 8th April 2013
Module 4
Quizzes wiil open at 7.00 am and close at 7.00 pm on the day.
Quiz 1 6th May 2013
Quiz 2 10th May 2013
Module 5
Quiz wiil open at 7.00 am and close at 7.00 pm on the day.
Quiz 20th May 2013
Module 6
Quizzes wiil open at 7.00 am and close at 7.00 pm on the day.
Quiz 1 24th May 2013
Quiz 2 31st may 2013
Extension
No extensions will be granted. Students who have not attempted a quiz prior to the deadline will be awarded a mark of 0 for that quiz, except for cases in which an application for special consideration is made and approved.
Penalties
See "extensions" above
What is required to complete the unit satisfactorily.
Students must pass the final exam.
On successful completion you will be able to:
- Be able to compare and contrast different "employment" structures.
Essays
Due: See timtable in iLearn
Weighting: 25%
Warning
This is an online course and therefore it is the student's responsibility to have available and access to the technology to access the material and to complete the tasks. No exceptions or extensions will be granted because of issues with the student's technology, the student's internet provider or the student's internet connectivity.
Students will be expected to complete two 1,500 word essays.
Essays will be lodged on-line.
Essay 1
Topic will be released on the 11th March and will be due by mid-night 29th April 2013.
Essay 2
Topic will be released on the 29th April and will be due by mid-night 7th June 2013.
Extension
No extensions will be granted. Students who have not subm itted an assignm ent prior to the deadline will be awarded a m ark of 0 for that assignment, except for cases in which an application for special consideration is made and approved.
Penalties
See "extensions" above
What is required to complete the unit satisfactorily.
Students must pass the final exam.
On successful completion you will be able to:
- Be able to compare and contrast common investment and debt instruments.
- Be able to compare and contrast common investment and debt instruments.
- Be able to describe the features and implications of common financial contracts
- Be able to compare and contrast different "employment" structures.
Final Examination
Due: Eaxamination period
Weighting: 35%
Will be conducted in the examination period 11th June to 28th June 2013.
Studnets must pass the final exam to pass teh subject.
On successful completion you will be able to:
- Be able to compare and contrast common investment and debt instruments.
- Be able to compare and contrast common investment and debt instruments.
- Be able to describe the features and implications of common financial contracts
- Be able to compare and contrast different "employment" structures.
Delivery and Resources
Classes
Please note: this is an online course and therefore it is the student’s responsibility to have available or access to the technology to access the material and to complete the assigned tasks. No exceptions or extensions will be granted because of issues with the student’s technology.
Prizes
There are no prizes for this unit.
Required and Recommended Texts and/or Materials
There is no prescribed text for the unit. Readings will be drawn from the online sources
including journal articles and students are also expected to follow web links in the Learning
Management System and download materials.
Technology Used and Required
Technology used
1. Learning Management System
2. Microsoft Office
3. Internet
4. Voice boards
Technology requirements
1. Access to a computer
2. Access to Microsoft Office
3. Access to the Internet
Unit Web Page
Course material is available on the learning management system (iLearn)
The web page for this unit can be found at learn.mq.edu.au.
Teaching and Learning Strategy
Students are expected to listen to online lectures and read the material supplied via the
Learning Management System.
Unit Schedule
| Week |
Modules |
Topics |
1 |
1 |
Goals Online presentation of content Reading/website reference |
2 |
2 |
Budgets Online presentation of content Demonstration Your Money – ASIC resource and associated activities |
3 |
2 |
Budgets Online presentation of content Demonstration Your Money – ASIC resource and associated activities |
4 |
3 |
Investments Basic Principles Interest, simple and compounding Tax implications Financial Institutions Fixed interest Shares Property Managed Funds Debt (including home loans) Risks in investing e.g. Ponzi schemes, Leveraged Investments, Tax-Driven Investments Wills and estate matters Dealing with disputes |
5 |
3 |
Investments Basic Principles Interest, simple and compounding Tax implications Financial Institutions Fixed interest Shares Property Managed Funds Debt (including home loans) Risks in investing e.g. Ponzi schemes, Leveraged Investments, Tax-Driven Investments Wills and estate matters Dealing with disputes |
6 |
3 |
Investments Basic Principles Interest, simple and compounding Tax implications Financial Institutions Fixed interest Shares Property Managed Funds Debt (including home loans) Risks in investing e.g. Ponzi schemes, Leveraged Investments, Tax-Driven Investments Wills and estate matters Dealing with disputes |
7 |
3 |
Investments
Basic Principles Interest, simple and compounding Tax implications Financial Institutions Fixed interest Shares Property Managed Funds Debt (including home loans) Risks in investing e.g. Ponzi schemes, Leveraged Investments, Tax- Driven Investments Wills and estate matters Dealing with disputes |
8 |
4 |
Superannuation
Introduction Preservation Rules and their effects Compulsory Superannuation (Superannuation Guarantee System) Voluntary Superannuation (Tax Advantages) Type of Fund / Member Choices Self Managed Super Funds (SMSFs) Allowable Investments within Superannuation Insurance products within Superannuation |
9 |
4 |
Superannuation
Introduction Preservation Rules and their effects Compulsory Superannuation (Superannuation Guarantee System) Voluntary Superannuation (Tax Advantages) Type of Fund / Member Choices Self Managed Super Funds (SMSFs) Allowable Investments within Superannuation Insurance products within Superannuation |
10 |
5 |
Insurance Health Insurance Rights and Obligations in Insurance Contracts Dealing with disputes |
11 |
6 |
Common Financial Contracts and Employment Structures
Introduction Financial Advisors- Licensing and fees Tenancy Agreements - Obligations of landlord and tenants Loans – eg Mortgages Credit Cards, Margin Lending Hire Purchase and Car leases Phone Contracts Internet Contracts Utilities Contracts PAYG/Tax Sub-contracting Sole Trader Partnership Company Trust |
12 |
6 |
Common Financial Contracts and Employment Structures
Introduction Financial Advisors- Licensing and fees Tenancy Agreements - Obligations of landlord and tenants Loans – eg Mortgages Credit Cards, Margin Lending Hire Purchase and Car leases Phone Contracts Internet Contracts Utilities Contracts PAYG/Tax Sub-contracting Sole Trader Partnership Company Trust |
13 |
6 |
Common Financial Contracts and Employment Structures
Introduction Financial Advisors- Licensing and fees Tenancy Agreements - Obligations of landlord and tenants Loans – eg Mortgages Credit Cards, Margin Lending Hire Purchase and Car leases Phone Contracts Internet Contracts Utilities Contracts PAYG/Tax Sub-contracting Sole Trader Partnership Company Trust |
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://www.mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://www.mq.edu.au/policy/docs/assessment/policy.html
Grading Policy http://www.mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://www.mq.edu.au/policy/docs/gradeappeal/policy.html
Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html
Special Consideration Policy http://www.mq.edu.au/policy/docs/special_consideration/policy.html
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Student Support
Macquarie University provides a range of Academic Student Support Services. Details of these services can be accessed at: http://students.mq.edu.au/support/
UniWISE provides:
- Online learning resources and academic skills workshops http://www.students.mq.edu.au/support/learning_skills/
- Personal assistance with your learning & study related questions.
- The Learning Help Desk is located in the Library foyer (level 2).
- Online and on-campus orientation events run by Mentors@Macquarie.
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
Details of these services can be accessed at http://www.student.mq.edu.au/ses/.
IT Help
If you wish to receive IT help, we would be glad to assist you at http://informatics.mq.edu.au/help/.
When using the university's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students and it outlines what can be done.
Graduate Capabilities
Capable of Professional and Personal Judgement and Initiative
We want our graduates to have emotional intelligence and sound interpersonal skills and to demonstrate discernment and common sense in their professional and personal judgement. They will exercise initiative as needed. They will be capable of risk assessment, and be able to handle ambiguity and complexity, enabling them to be adaptable in diverse and changing environments.
This graduate capability is supported by:
Learning outcomes
- Be able to describe the role of financial goals and develop personal financial goals.
- Be able to construct and maintain a working budget.
- Be able to compare and contrast common investment and debt instruments.
- Be able to compare and contrast common investment and debt instruments.
- Be able to describe the features and implications of common financial contracts
- Be able to compare and contrast different "employment" structures.
Assessment tasks
- Module Assignments
- Essays
- Final Examination
Discipline Specific Knowledge and Skills
Our graduates will take with them the intellectual development, depth and breadth of knowledge, scholarly understanding, and specific subject content in their chosen fields to make them competent and confident in their subject or profession. They will be able to demonstrate, where relevant, professional technical competence and meet professional standards. They will be able to articulate the structure of knowledge of their discipline, be able to adapt discipline-specific knowledge to novel situations, and be able to contribute from their discipline to inter-disciplinary solutions to problems.
This graduate capability is supported by:
Learning outcomes
- Be able to compare and contrast common investment and debt instruments.
- Be able to describe the features and implications of common financial contracts
Assessment tasks
- Quizzes
- Final Examination
Critical, Analytical and Integrative Thinking
We want our graduates to be capable of reasoning, questioning and analysing, and to integrate and synthesise learning and knowledge from a range of sources and environments; to be able to critique constraints, assumptions and limitations; to be able to think independently and systemically in relation to scholarly activity, in the workplace, and in the world. We want them to have a level of scientific and information technology literacy.
This graduate capability is supported by:
Learning outcomes
- Be able to compare and contrast common investment and debt instruments.
- Be able to describe the features and implications of common financial contracts
Problem Solving and Research Capability
Our graduates should be capable of researching; of analysing, and interpreting and assessing data and information in various forms; of drawing connections across fields of knowledge; and they should be able to relate their knowledge to complex situations at work or in the world, in order to diagnose and solve problems. We want them to have the confidence to take the initiative in doing so, within an awareness of their own limitations.
This graduate capability is supported by:
Learning outcomes
- Be able to describe the role of financial goals and develop personal financial goals.
- Be able to construct and maintain a working budget.
- Be able to compare and contrast common investment and debt instruments.
- Be able to describe the features and implications of common financial contracts
- Be able to compare and contrast different "employment" structures.
Assessment tasks
- Essays
- Final Examination
Socially and Environmentally Active and Responsible
We want our graduates to be aware of and have respect for self and others; to be able to work with others as a leader and a team player; to have a sense of connectedness with others and country; and to have a sense of mutual obligation. Our graduates should be informed and active participants in moving society towards sustainability.
This graduate capability is supported by:
Assessment tasks
- Module Assignments
- Essays
- Final Examination
Research and Practice
This unit uses research from external sources.
This unit gives you practice in applying research findings in your assignments.