Students

AFIN8002 – Finance Empirical

2025 – Session 2, Online-scheduled-In person assessment, North Ryde

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff
Tom Smith
tom.smith@mq.edu.au
Credit points Credit points
10
Prerequisites Prerequisites
Admission to GradCertResBus or GradDipResBus
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

This unit introduces students to the empirical methods of modern finance, and will highlight some of the key concepts involved in current empirical work in finance, such as a review of econometrics, intertemporal asset pricing models, CAPM, data issues, serial dependence, etc. After completing the unit, students should be able to reproduce the results reported in the studies which have been examined.

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: Understand modern multivariate statistical methods.
  • ULO2: Gain expertise in testing empirical models.
  • ULO3: Appreciate data acquisition and data issues.
  • ULO4: Explore what the editors are looking for in terms of endogeneity sample selection and natural experiments.
  • ULO5: Effectively communicate results to an academic audience. 

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
Skills development: Finance research proposal 20% No 31/10/2025
Skills Development: Applied empirical analysis 30% No 26th July; 23rd August; 20th September
Formal and Observed Learning: Test 50% No 30/10/2025

Skills development: Finance research proposal

Assessment Type 1: Report
Indicative Time on Task 2: 10 hours
Due: 31/10/2025
Weighting: 20%

 

The purpose of this assessment is for you to gain expertise in developing a research proposal.

You will apply frameworks and concepts discussed in the unit to develop a research proposal.

Skills in focus: - Communication - Critical thinking and problem solving - Work readiness

Deliverable: Research proposal [max 500 words] Individual assessment

 
On successful completion you will be able to:
  • Understand modern multivariate statistical methods.
  • Gain expertise in testing empirical models.
  • Appreciate data acquisition and data issues.
  • Explore what the editors are looking for in terms of endogeneity sample selection and natural experiments.
  • Effectively communicate results to an academic audience. 

Skills Development: Applied empirical analysis

Assessment Type 1: Report
Indicative Time on Task 2: 20 hours
Due: 26th July; 23rd August; 20th September
Weighting: 30%

 

The purpose of this assessment is for you to gain expertise in applications empirical finance.

You will reproduce results from empirical finance studies, applying frameworks and concepts discussed in the unit, and present your findings to the class.

Skills in focus: - Collaboration and communication - Critical thinking and problem solving - Discipline knowledge

Deliverable: Report [max 2,000 words] and presentation Group assessment

 
On successful completion you will be able to:
  • Understand modern multivariate statistical methods.
  • Gain expertise in testing empirical models.
  • Appreciate data acquisition and data issues.
  • Explore what the editors are looking for in terms of endogeneity sample selection and natural experiments.
  • Effectively communicate results to an academic audience. 

Formal and Observed Learning: Test

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 30 hours
Due: 30/10/2025
Weighting: 50%

 

The purpose of this assessment is for you to demonstrate your understanding and knowledge of key topics from the unit.

You will participate in a formal test. Feedback on your performance will help you assess your progress through the unit content.

Deliverable: Test Individual assessment

 
On successful completion you will be able to:
  • Understand modern multivariate statistical methods.
  • Gain expertise in testing empirical models.
  • Appreciate data acquisition and data issues.
  • Explore what the editors are looking for in terms of endogeneity sample selection and natural experiments.

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

Textbooks

There are no required texts for this course. The following books are useful references:

· Campbell, Lo and MacKinlay, 1997, The Econometrics of Financial Markets, Princeton University Press

· Cochrane, 2005, Asset Pricing Revised Edition, Princeton University Press

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/

Academic Success

Academic Success 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 2025.03 of the Handbook