Students
AFIN7039 – Portfolio Management
2023 – Session 1, In person-scheduled-weekday, North Ryde
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Simon Wong
Imran Imran
|
|---|---|
| Credit points |
Credit points
10
|
| Prerequisites |
Prerequisites
Admission to MRes
|
| Corequisites |
Corequisites
|
| Co-badged status |
Co-badged status
AFIN8039
|
| Unit description |
Unit description
This unit covers the principles, theory and techniques of portfolio management. Study of this unit provides a basis for the effective management of investment portfolios, as well as an understanding of the limitations of techniques commonly applied to problems of portfolio construction and performance evaluation. |
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: Explain the behavioural and statistical assumptions underlying the tools and techniques of portfolio management and have developed an awareness of their rationale and limitations.
- ULO2: Recognise the economic principles of arbitrage and market efficiency.
- ULO3: Apply key factor pricing models to practical problems in portfolio construction and performance evaluation.
- ULO4: Generalise the sources of modelled risk and approaches to managing such exposures.
- ULO5: Critically review and appraise the literature in portfolio management.
General Assessment Information
Late Assessment Submission Penalty (written assessments)
Unless a Special Consideration request has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted. Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern.
For any late submissions of time-sensitive tasks, such as scheduled tests/exams, performance assessments/presentations, and/or scheduled practical assessments/labs, students need to submit an application for Special Consideration.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Online Quiz | 5% | No | Week 4 |
| Mid Session Test | 20% | No | Week 6 |
| Individual research report | 25% | No | Week 8 |
| Final Examination | 50% | No | University Exam Period |
Online Quiz
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 1 hours
Due: Week 4
Weighting: 5%
The online quiz will consist of 5 to 10 multiple choice and/or short answer questions and will be available on iLearn. Please use the quiz result as an indicator of whether you are progressing satisfactorily in the unit.
On successful completion you will be able to:
- Explain the behavioural and statistical assumptions underlying the tools and techniques of portfolio management and have developed an awareness of their rationale and limitations.
Mid Session Test
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 15 hours
Due: Week 6
Weighting: 20%
A mid session test of 90 minutes will be held to give students practice on a summative task and to provide feedback on their progress midway through the session.
On successful completion you will be able to:
- Explain the behavioural and statistical assumptions underlying the tools and techniques of portfolio management and have developed an awareness of their rationale and limitations.
- Recognise the economic principles of arbitrage and market efficiency.
- Apply key factor pricing models to practical problems in portfolio construction and performance evaluation.
- Generalise the sources of modelled risk and approaches to managing such exposures.
Individual research report
Assessment Type 1: Report
Indicative Time on Task 2: 20 hours
Due: Week 8
Weighting: 25%
Students will prepare a literature review and produce a 1000 to 1500 words report.
On successful completion you will be able to:
- Recognise the economic principles of arbitrage and market efficiency.
- Apply key factor pricing models to practical problems in portfolio construction and performance evaluation.
- Generalise the sources of modelled risk and approaches to managing such exposures.
- Critically review and appraise the literature in portfolio management.
Final Examination
Assessment Type 1: Examination
Indicative Time on Task 2: 20 hours
Due: University Exam Period
Weighting: 50%
A final exam of two hours will be held during the University Examination Period.
On successful completion you will be able to:
- Explain the behavioural and statistical assumptions underlying the tools and techniques of portfolio management and have developed an awareness of their rationale and limitations.
- Recognise the economic principles of arbitrage and market efficiency.
- Apply key factor pricing models to practical problems in portfolio construction and performance evaluation.
- Generalise the sources of modelled risk and approaches to managing such exposures.
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
There are no required textbooks that must be bought. But the following textbooks are recommended:
- Investments, Zvi Bodie, Alex Kean, Alan J. Marcus, McGraw-Hill Education, Latest Edition
- Investment Analysis and Portfolio Management, Reilly and Brown, South-Western Cengage Learning
- Running Money, Professional Portfolio Management, Stewart, Piros and Heisler, McGraw-Hill Irwin
- Modern Portfolio Theory and Investment Analysis, Elton, Gruber, Brown and Goetzmann, John Wiley and Sons, Inc.
- Modern Investment Theory, Haugen, Prentice Hall
- Investment Science, David Luenberger, Oxford University Press
These books are available for purchase from the online bookshop Booktopia, and copies will be available in the closed reserve section of the Macquarie Library.
Unit Schedule
Refer to iLearn
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). 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
- Assessment Procedure
- Complaints Resolution Procedure for Students and Members of the Public
- Special Consideration Policy
Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.
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
Academic Integrity
At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.
Student Support
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
The Writing Centre
The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.
- Workshops
- Chat with a WriteWISE peer writing leader
- Access StudyWISE
- Upload an assignment to Studiosity
- Complete the Academic Integrity Module
The Library provides online and face to face support to help you find and use relevant information resources.
Student Services and Support
Macquarie University offers a range of Student Support Services including:
- IT Support
- Accessibility and disability support with study
- Mental health support
- Safety support to respond to bullying, harassment, sexual harassment and sexual assault
- Social support including information about finances, tenancy and legal issues
- Student Advocacy provides independent advice on MQ policies, procedures, and processes
Student Enquiries
Got a question? Ask us via AskMQ, or contact Service Connect.
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.
Unit information based on version 2023.01 of the Handbook