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AFIN8014 – FinTech and Innovation

2021 – Session 1, 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 activities on campus, and most will keep an online version available to those students unable to return or those who choose to continue their studies online.

To check the availability of face-to-face and online 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
Cynthia Cai
Credit points Credit points
10
Prerequisites Prerequisites
(AFIN6012 and (AFIN613 or AFIN6013)) or (admission to MBkgFin or MBusAnalytics or MFin)
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

Technology has been transforming the finance industry, with the potential to disrupt traditional industry structure and practice. This unit introduces the main building blocks of FinTech (blockchain, big data, machine learning and artificial intelligence) and how these technologies could provide transformative solutions to underlying finance problems (including economic and psychological issues) and reshape the finance industry with innovations. Cutting-edge cases will be used to illustrate the core concepts.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://students.mq.edu.au/important-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

  • ULO1: Identify fundamental economic and psychological issues in the current financial system.
  • ULO2: Explore fundamental techniques in blockchain, machine learning and artificial intelligence
  • ULO3: Work productively in a group to evaluate how major advances in blockchain, machine learning and artificial intelligence are applicable to finance problems.
  • ULO4: Analyse recent developments in FinTech and its impact in transforming the finance industry.
  • ULO5: Discover the risks arising from FinTech and understand the dynamics between the innovations and regulations.

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
Assignment 20% No Week 5
Group Project 40% No Week 10
Final Examination 40% No During University Exam Period

Assignment

Assessment Type 1: Report
Indicative Time on Task 2: 15 hours
Due: Week 5
Weighting: 20%

 

The assignment will cover quantitative and/or qualitative analysis of a finance scenario or problem. Student will be required to produce a report of 800 to 1200 words

 


On successful completion you will be able to:
  • Identify fundamental economic and psychological issues in the current financial system.
  • Explore fundamental techniques in blockchain, machine learning and artificial intelligence

Group Project

Assessment Type 1: Project
Indicative Time on Task 2: 40 hours
Due: Week 10
Weighting: 40%

 

The project will cover quantitative and/or qualitative analysis specific to FinTech. In groups of 3-4, students will be required to conduct analysis and produce a business report. Please note that 50% of the marks will be based on student's individual contribution via indidvidual essay and/or presentation.

 


On successful completion you will be able to:
  • Identify fundamental economic and psychological issues in the current financial system.
  • Explore fundamental techniques in blockchain, machine learning and artificial intelligence
  • Work productively in a group to evaluate how major advances in blockchain, machine learning and artificial intelligence are applicable to finance problems.
  • Analyse recent developments in FinTech and its impact in transforming the finance industry.
  • Discover the risks arising from FinTech and understand the dynamics between the innovations and regulations.

Final Examination

Assessment Type 1: Examination
Indicative Time on Task 2: 15 hours
Due: During University Exam Period
Weighting: 40%

 

An online open book two hour examination will be held during University Examination Period.

 


On successful completion you will be able to:
  • Identify fundamental economic and psychological issues in the current financial system.
  • Explore fundamental techniques in blockchain, machine learning and artificial intelligence
  • Analyse recent developments in FinTech and its impact in transforming the finance industry.
  • Discover the risks arising from FinTech and understand the dynamics between the innovations and regulations.

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 Learning Skills Unit 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

Required Text No prescribed textbook is required. The unit will utilize various library resources, including research papers, book chapters, case studies, etc. All materials will be provided via iLearn or during the lecture.
Recommended Readings We will supplement the lecture materials with readings from journals and other textbooks. A list of relevant material will be provided via iLearn.
Technology Used and Required Necessary technology: Computer with MS Excel and Word, scientific or business calculator and internet access.

Unit Schedule

Teaching Weeks

Topics

1

Introduction of FinTech: History and Today

2

Digital Transformation

3

Raising Money with Alternatives: Peer-to-Peer Lending and Crowdfunding

4

Blockchain-A Disruptive Technology:  Bitcoin and Cryptocurrencies

5

Blockchain-A Disruptive Technology: Beyond Coins

6

Machine Learning: from ' Traditional' to 'Deep'

7

Big Data: Harnessing Data with Artificial Intelligence

8

InsurTech and PropTech: Financial Innovations in Insurance and Real Estate

9

Financial Inclusion with Innovations 

10

Issues of FinTech: Risks and Regulations

11

FinTech: Possible Improvements in Financial Behaviours

12

FinTech: The Future

13

Revision

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:

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/admin/other-resources/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 Enquiry Service

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

Equity 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.

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.