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AFIN8067 – International Financial Management

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 Covenor
Damian Bridge
Credit points Credit points
10
Prerequisites Prerequisites
(Admission to MActPrac or MFin) or (ACST603 or ACST6003 or AFIN6012 or AFIN613 or AFIN6013 or AFIN858 or MGNT603 or ACCG6003 or MGNT808)
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

This unit is concerned with the analytical techniques of international finance and investment. Topics include global flow of funds and international financial markets, foreign exchange markets, interest parity, arbitrage and currency speculation, purchasing power parity, real effective exchange, commodity swaps, short and long-term hedging of foreign currency risks, futures and options in currencies. Students will be equipped with the skills to critically analyse international currency and interest rate hedging activities as well as distinguish between international funding sources.

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: Critically analyse current changes in global financial markets that impact on international financial management, in particular exchange rate risk, capital structure and operational risks.
  • ULO2: Examine new and current investment techniques, markets and risk management models.
  • ULO3: Evaluate advanced concepts relating to foreign exchange, financial derivatives, transaction exposure, capital structure and international portfolio theory.
  • ULO4: Develop and apply teamwork skills to attain effective and professional group outcomes.

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
Online Quizzes 10% No Week 4 and 13
Mid Session Test 50% No Week 8
Syndicate Report 40% No Group Week 12 and Individual Week 13

Online Quizzes

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 5 hours
Due: Week 4 and 13
Weighting: 10%

 

There will be two online quizzes, each worth 5%.

 


On successful completion you will be able to:
  • Critically analyse current changes in global financial markets that impact on international financial management, in particular exchange rate risk, capital structure and operational risks.
  • Examine new and current investment techniques, markets and risk management models.
  • Evaluate advanced concepts relating to foreign exchange, financial derivatives, transaction exposure, capital structure and international portfolio theory.

Mid Session Test

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 20 hours
Due: Week 8
Weighting: 50%

 

An online open book two hour mid session test will be held.

 


On successful completion you will be able to:
  • Critically analyse current changes in global financial markets that impact on international financial management, in particular exchange rate risk, capital structure and operational risks.
  • Examine new and current investment techniques, markets and risk management models.
  • Evaluate advanced concepts relating to foreign exchange, financial derivatives, transaction exposure, capital structure and international portfolio theory.

Syndicate Report

Assessment Type 1: Project
Indicative Time on Task 2: 20 hours
Due: Group Week 12 and Individual Week 13
Weighting: 40%

 

Students are required to undertake an analysis of a range of aspects of a company listed on the Australian Stock Exchange and provide critiques and recommendations. 50% of this group work assessment will be allocated to individual performance.

 


On successful completion you will be able to:
  • Critically analyse current changes in global financial markets that impact on international financial management, in particular exchange rate risk, capital structure and operational risks.
  • Examine new and current investment techniques, markets and risk management models.
  • Evaluate advanced concepts relating to foreign exchange, financial derivatives, transaction exposure, capital structure and international portfolio theory.
  • Develop and apply teamwork skills to attain effective and professional group outcomes.

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

Classes

  • Students should view the pre-recorded lecture and attend the online consultation session.

Required and Recommended texts and/or materials

  • International Financial Management: 7th Edition Eun & Resnick, Publisher: McGraw-Hill Irwin Copyright
  • Set chapters for each topic’s lecture are drawn from this text and identified in the lecture topic table below. Students should read these chapters prior to the lecture, so that they are familiar with the material to be covered. This will greatly enhance your learning experience.
  • Required texts can be purchased from the Macquarie University Co-op Bookshop.

Technology Used and Required

  • Financial non-programmable calculators can be used in the unit. A financial calculator is not essential as a scientific non-programmable calculator should meet all your needs (calculation of the Internal Rate of Return (IRR) is not required in any of the assessment tasks). Note: Only non-programmable calculators without text retrieval functionality are allowed for use in the unit’s assessments tasks.
  • Excel or similar spreadsheeting tool will be required to complete the assignment.
  • Students should have access to the internet.

Unit Web Page

  • Course material and announcements are available on the learning management system (iLearn).

Unit Schedule

Week No.

Date (Week Beginning)

Topic

Chapters

1

22 February

Foundations of International Financial Management 1

1, 2, 3 & 4

2

1 March

The Foreign Exchange Market 1

5 & 6

3

8 March

The Foreign Exchange Market 2

7

4

15 March

Foreign Exchange Exposure

8, 9 & 10

5

22 March

World Financial Markets 1

11

6

29 March

World Financial Markets 2

12 & 13

7

19 April

World Financial Markets 3

14

8

26 April

Mid Semester Test

 

9

3 May

Library Research Presentation

Syndicate Project Introduction

 

10

10 May

World Financial Markets 4

15

11

17 May

Financial Management of the Multinational Firm 1

16 & 17

12

24 May

Financial Management of the Multinational Firm 2

18 & 19

13

31 May

Financial Management of the Multinational Firm 3

20 & 21

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.