Students

AFIN8014 – FinTech and Innovation

2024 – Session 1, In person-scheduled-weekday, North Ryde

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff
Cynthia Cai
cynthia.cai@mq.edu.au
Credit points Credit points
10
Prerequisites Prerequisites
((Admission to MBkgFin or MCom) and (AFIN8008 or ACST6003)) or (Admission to MBusAnalytics or MFin or MActPrac) or ACCG6003
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://www.mq.edu.au/study/calendar-of-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
Online Quiz 10% No Week 4
Assignment 10% No Week 7
Group Project 40% No Week 10
Final Examination 40% No Exam Period

Online Quiz

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

 

The online quiz will consist of 5 to 10 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:
  • 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.

Assignment

Assessment Type 1: Report
Indicative Time on Task 2: 5 hours
Due: Week 7
Weighting: 10%

 

The assignment will cover quantitative and/or qualitative analysis of a finance scenario or problem. Students 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: 35 hours
Due: Week 10
Weighting: 40%

 

The project will cover quantitative and/or qualitative analysis specific to FinTech. In groups, 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 individual 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: 10 hours
Due: Exam Period
Weighting: 40%

 

A two hour exam 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 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

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

Issues of FinTech: Risks and Regulations

 

10

Financial Inclusion with Innovations

 

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://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:

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 connect.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.

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:

Student Enquiries

Got a question? Ask us via the Service Connect Portal, 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 2024.03 of the Handbook