Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit convenor
Dr. Guy Schofield
Contact via Refer to iLearn
Refer to iLearn
Refer to iLearn
Lecturer
Dr. Fan Yu
Contact via 9850 8568
E4A 728
Refer to iLearn
Angela Chow
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
ACST603 or AFIN858
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit provides an introduction to the fundamental concepts of investment analysis and their practical application. With an international approach, topics include selecting asset types for specific objectives, bond and stock valuation, asset allocation, the risk-return trade-off, portfolio management, behavioural biases in investment decisions, and fundamental versus technical analysis. The materials covered encompass practical techniques as well as intellectual and academic issues in investment management.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
It is the responsibility of students to view their marks for each within session assessment on iLearn within 20 working 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 marks (not including the final exam mark) will not be addressed.
Assessment criteria for all assessment tasks will be provided on the unit iLearn site.
Students should attempt the multiple choice questions provided in the unit BKM textbook web site (see Delivery and Resources below) as part of class preparation. Please use these questions, the online quiz assessment task and the weekly homework questions as an indicator of whether you are progressing satisfactorily in the unit. If you are having difficulties, please see the Unit Convenor and consider withdrawing before the census date on Friday of week 4.
Name | Weighting | Hurdle | Due |
---|---|---|---|
Quiz | 11% | No | Weekly |
Class test | 25% | No | Week 7 in class |
Case study | 25% | No | Sun21May2017 by 5pm Austr.EST |
Final examination | 39% | No | University Examination Period |
Due: Weekly
Weighting: 11%
On-line quizzes are interactive online learning activities where questions are randomly selected from a test-bank. We use the online quizzes to encourage timely revision and engage student learning. There is one online quiz for each lecture. Each online quiz is worth one mark and has ten questions of equal weighting. There are eleven online quizzes in total. The online quizzes will open to students every Friday commencing week one to test your knowledge of the lecture given in the week. You are expected to have completed the quiz within the week i.e., by the following Friday. Students frequently ask for extensions to these deadlines for various reasons. In the interest of fairness every student will automatically be granted an extension of one week to each online quiz, and the quizzes will stay online for two weeks each (e.g., Week 1's lecture will be open until Friday of week 3). Further extensions will only be granted with a doctor's note explaining the student's inability to complete the quiz in all two weeks.
You are allowed three attempts for each online quiz. The highest mark achieved from each online quiz is selected for grading purposes. After completing an online quiz, you must click "submit" before exiting the online quiz to ensure that the answers are processed and marked by iLearn. Otherwise, you will not receive any marks. In the past, some students have claimed to have submitted quizzes but that the system has lost them, most likely confused different quizzes. If you think you lost a quiz the IT guys will look into it, but if they cannot find anything in the system we cannot give you any marks. You are encouraged to take a screen shot of your submitted quiz if you don’t have faith in iLearn.
Please use these questions and the weekly homework questions as an indicator of whether you are progressing satisfactorily in the unit. If you are having difficulties, please see the Unit Convenor and consider withdrawing before the census date on Friday of week 4.
Due: Week 7 in class
Weighting: 25%
The mid-semester test will cover the topics studied during weeks 1 to 5 inclusive. The time allowed is one and a half hours.
Students who do not sit for the mid-semester test will be awarded a mark of zero for the mid-semester test, except for cases in which an application for special consideration is made and approved.
Due: Sun21May2017 by 5pm Austr.EST
Weighting: 25%
Each student will prepare a written report that addresses the issues raised in the assigned case study. Submission for the case study is via the unit iLearn website using Turnitin. This is an individual assignment and similarity will be checked via Turnitin
Please refer to iLearn for the case and submission details.
The written report is to be submitted by the due date. 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). No submission will be accepted after feedback has been provided in the first class of week 12. This penalty does not apply for cases in which an application for disruption of studies is made and approved.
Due: University Examination Period
Weighting: 39%
In principle, the final exam covers all the materials discussed in the lectures, including the first five weeks. However, the emphasis of the exam will be on the material covered from week six onwards, i.e. the material that was not covered by the midterm exam. Earlier materials will mainly be relevant to the extent that the material from lecture six onwards builds on it.
The duration of the exam is two and a half hours plus 10 minutes reading time. NO formula sheet will be provided in the exam paper. Only the Cumulative Normal Distribution table will be provided in the exam paper if required. You will be permitted to take one A4 sheet of reference material handwritten and/or typed on both sides.
We will not specify the questions in advance. You must observe the exam rules and regulations set by the university. Further details on the format of the final exam will be provided on iLearn.The final exam will cover the topics studied throughout the semester. The final exam will be scheduled in the examination period.
Non-programmable calculator.
Students are required to enrol in one three-hour class per week and attend the class in which they are enrolled. See details from the timetable.
Classes will typically consist of a two-hour lecture followed by a one-hour tutorial. Lectures are used to set the scene and show how the topic fits into the overall unit of study aims. Tutorials are essential for helping address any misunderstandings and to apply concepts to more difficult problems. Participation is strongly encouraged so students can check their understanding of concepts. Students should be prepared to present their homework solutions in the tutorials and/or to discuss the related conceptual issues.
The textbook for the unit is Bodie, Z., Kane, A. and Marcus, A.J. (2014), Investments, 10th edition, McGraw-Hill (denoted BKM on the reading list). Textbook material will be supplemented by articles and handouts. Chapters from the textbook and specified articles should be read prior to attending the scheduled lecture on that topic.Homework problems will be assigned at the end of lectures and these should be completed before coming to class the following week.
Important handouts can be downloaded from the unit's iLearn site.
The optional additional textbook for the unit is Elton, E.J.,Gruber M.J.,Brown,S.J., Goetzmann, W.N. (2014), Modern Portfolio Theory and Investment Analysis, 9th Edition, Wiley.
iLearn (https://ilearn.mq.edu.au) provides the main online learning support. It is essential that you log in at least twice per week to keep abreast of unit-wide announcements and use the resources to supplement your learning. Lecture slides are available by the Friday before each lecture for you to download from iLearn. Solutions to homework problems are made available online after the problems are discussed in class.
Students should attempt the multiple choice questions provided in the BKM textbook web site as part of class preparation.
Acad. Week |
Topics |
Readings |
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Week 1
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Introduction |
BKM Pt1 chapters 1 and 2 (not 2.5) |
Week 2
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Investment vehicles |
BKM Pt1 chapters 3 and 4 (not 3.4 and 3.5) |
Week 3
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Risk preferences and asset allocation |
BKM Pt2 chapters 5 and 6 (not appendix C) |
Week 4
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Portfolio optimisation |
BKM Pt2 chapters 7 and 8 (not appendices) |
Week 5
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Asset pricing |
BKM Pt3 chapters 9 and 10 |
Week 6
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Market efficiency |
BKM Pt3 chapters 11 and 12 |
Week 7
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Mid semester test |
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Week 8
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Empirical evidence on security returns |
BKM Pt3 chapter 13 |
Week 9
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Fixed income securities |
BKM chapters 14 and 15 |
Week 10
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Interest rate risk management |
BKM chapter 16 |
Week 11
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Industry analysis |
BKM chapter 17 |
Week 12
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Equity securities |
BKM chapters 18 and 19 |
Week 13
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Revision |
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Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://mq.edu.au/policy/docs/assessment/policy_2016.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.html
Disruption to Studies Policy (in effect until Dec 4th, 2017): http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
Special Consideration Policy (in effect from Dec 4th, 2017): https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Results shown in iLearn, 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.
Supplementary Exams
Further information regarding supplementary exams, including dates, is available here
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
For all student enquiries, visit Student Connect at ask.mq.edu.au
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.
Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.
This graduate capability is supported by:
Addition of online quiz assessment task.
Reduced the number of PG capabilties to three.
This unit uses research from external sources (references will be given in lectures and tutorials and on the unit's iLearn site).
This unit gives you practice in applying research findings in the written report.
Date | Description |
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22/02/2017 | Removed Angela Chow as a contact. |
21/02/2017 | Removed two PG capabilities to leave three PG capabilities as required. |