MMBA8036 – Investment Management

2021 – Term 1, Special circumstances

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 Dan Daugaard dan.daugaard@mq.edu.au Contact via Email
Credit points	Credit points 10
Prerequisites	Prerequisites (MGSM835 or MMBA8035) and (MGSM840 or MMBA8040)
Corequisites	Corequisites
Co-badged status	Co-badged status
Unit description	Unit description This unit develops a conceptual framework to apply modern investment theory. Students analyse 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. The unit concludes by examining portfolio performance measurement as the final step in the investment process.

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 and evaluate conceptual frameworks and theories in managing investments.
ULO2: Develop financial literacy and apply knowledge to evaluate and assess investment portfolio performance.
ULO3: Assess and synthesise the differences between behavioural finance and rational expectations in a global investment environment.

Assessment Tasks

Name	Weighting	Hurdle	Due
Group assignment	35%	No	Refer to iLearn
Case study report	35%	No	Refer to iLearn
Online Test	30%	No	Refer to iLearn

Group assignment

Assessment Type ¹: Report
Indicative Time on Task ²: 20 hours
Due: Refer to iLearn
Weighting: 35%

A 1,500 word case study report including both quantitative and qualitative analysis. Marks will be allocated 50% for each students individual questions and 50% for the combined group report.

On successful completion you will be able to:

Identify and evaluate conceptual frameworks and theories in managing investments.
Develop financial literacy and apply knowledge to evaluate and assess investment portfolio performance.
Assess and synthesise the differences between behavioural finance and rational expectations in a global investment environment.

Case study report

Assessment Type ¹: Case study/analysis
Indicative Time on Task ²: 20 hours
Due: Refer to iLearn
Weighting: 35%

A 1,500 word case study report including both quantitative and qualitative analysis.

On successful completion you will be able to:

Identify and evaluate conceptual frameworks and theories in managing investments.
Develop financial literacy and apply knowledge to evaluate and assess investment portfolio performance.
Assess and synthesise the differences between behavioural finance and rational expectations in a global investment environment.

Online Test

Assessment Type ¹: Quiz/Test
Indicative Time on Task ²: 15 hours
Due: Refer to iLearn
Weighting: 30%

A 1.5 hour open book online mid session test will be held.

On successful completion you will be able to:

Identify and evaluate conceptual frameworks and theories in managing investments.
Develop financial literacy and apply knowledge to evaluate and assess investment portfolio performance.
Assess and synthesise the differences between behavioural finance and rational expectations in a global investment environment.

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

Bodie, Z., Kane, A. & Marcus, A. (2021) Investments, 12th edition, McGraw Hill.

MGSM iLearn

The web page for this unit can be found at: https://ilearn.mq.edu.au/login/MGSM

Unit Schedule

Friday	19 February	9am - 5pm
Saturday	20 February	9am - 5pm
Sunday	21 February	9am - 5pm
Saturday	13 March	9am - 5pm
Sunday	14 March	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	Asset Pricing Models	Chapters 9-10
4	Managed Funds: Measuring Performance and Critiquing	Chapters 4 & 24
5	Market Efficiency and Behavioural Finance	Chapters 11 & 12
6	Bond Investments; Bond Valuation; Investment Strategies	Chapters 14-16
7	Investing in Shares	Chapters 17 & 25
8	Valuation Models	Chapters 18-19
9	Environmental, Social and Governance Investing; and Trends in Investment Management	CFA Readings
10	Review Session

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/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.

Changes since First Published

Date	Description
05/01/2021	Incorrect dates previously published. The correct dates are 19-21 Feb and 13-14 March 2021