Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor & Lecturer
Toomas Truuvert
Contact via AFIN858 iLearn - Dialogue link
E4A516
Refer to iLearn
Angela Chow
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
((ACCG849 or ECON649) and (ACCG615 or ACCG860) and (ACCG862 or ACCG923)) or (admission to MAppFin or MAppFin(Adv))
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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 introduces participants to first principles of contemporary financial theory and practice. Topics include financial mathematics, financial markets and instruments, valuation of securities, measurement and analysis of risk including portfolio theory, investment decisions and evaluation, cost of capital, capital structure policy, and dividend policy. This prepares participants to learn more complex theoretical and analytical techniques, and enables them to apply their knowledge to real life corporate finance situations.
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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:
Grading: assessment in this unit is informed by the Assessment Policy, and the Final Examination Procedure.
Special Consideration Policy (SCP): in cases where the SCP applies, students may be offered an alternative assessment or may receive a mark based on the percentage mark achieved in one or more assessment tasks, at the Unit Convenor discretion.
Viewing 'Within Session' Assessment Task Marks: 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 Examination mark) will not be addressed.
Assessment Criteria: Assessment criteria for all assessment tasks will be provided on the unit iLearn site. Students must attempt all assessment tasks.
Assessment Policy: Make sure to read the current Assessment Policy and the Final Examination Procedure.
Name | Weighting | Hurdle | Due |
---|---|---|---|
Quiz | 10% | No | Weekly Week 3-12 |
Class Test | 35% | No | Week 8 |
Final Examination | 55% | No | Examination Period |
Due: Weekly Week 3-12
Weighting: 10%
Quiz is an individual 'open-book' assessment task, at a venue of your choice, attempted and submitted in AFIN858-iLearn.
Ten (10) weekly quizzes cover topics listed in the Unit Schedule. A Quiz is a mix of 'theory' and 'calculation' questions, eliciting responses from sets of five (5) pre-determined alternatives i.e. 'multiple-choices', requiring selection of 'ONE (1) BEST' alternative as your preferred answer choice. No 'negative' marking. Eight (8) of your ten (10) scores are randomly selected and counted toward your overall result. Total time available to complete a Quiz is sixty (60) minutes.
No extensions will be granted. Students who have not submitted a Quiz by its deadline will receive a zero (0) mark for that Quiz, except for cases in which the Special Consideration Policy (SCP) applies.
Moreover, make sure to read the Quiz Information, to be issued in AFIN858-iLearn, as it contains additional essential information about this assessment task.
Please use the first quiz 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 university Census Date.
A non-assessable 'Practice Quiz' will be available from Week 2.
Due: Week 8
Weighting: 35%
Class Test is an individual 'closed-book' assessment task held in Week 8, during in-class time, at your scheduled venue, under invigilated and time-limited conditions, submitted at the venue. Total time available to complete the Class Test is seventy-five (75) minutes.
No extensions will be granted. Students who have not submitted the Class Test by its deadline will receive a zero (0) mark for the Class Test, except for cases in which the Special Consideration Policy (SCP) applies.
'Reference' ('Crib' or ‘Formula') Sheet: you are permitted ONE (1) A4 sheet of reference material printed on both sides of the sheet. The material may be handwritten or typed. Questions and the 'reference' sheet will be collected at the end of the Class Test. They will not be returned to you.
Make sure to read the Class Test Information, to be issued in Week 7 at AFIN858-iLearn, as it contains additional essential information about this assessment task.
Due: Examination Period
Weighting: 55%
Final Examination is an individual 'closed book' assessment task, attempted at an examination venue timetabled and administered centrally by the University i.e. not by the Faculty of Business and Economics, under invigilated and time-limited conditions, submitted at the examination venue. Total time available to complete the Final Examination is two (2) hours plus ten (10) minutes of 'reading' time.
'Reference' ('Crib' or ‘Formula') Sheet: you are permitted ONE (1) A4 sheet of reference material printed on both sides of the sheet. The material may be handwritten or typed. The 'reference' sheet will be collected at the end of the Final Examination. It will not be returned to you.
Moreover, make sure to read the current Assessment Policy, Final Examination Procedure, and Special Consideration Policy (SCP).
Delivery
Mode: 1 weekly class (3 hours). Attendance is not compulsory. However, in our experience, regular weekly in-class participation can contribute to your overall performance. In-class participation includes discussion on weekly lecture topics, and short presentations of assigned homework. Lecturers will note your in-class participation, so attend only the class in which you are enrolled. Please note that students enrolled in any one class have priority access to venue seating on a first-come-first serve basis.
Workload: estimated to about 150 hours in total (or 12 hours per week, on the average) for a post-graduate unit with 4 credit points. The workload includes weekly pre-lecture reading, in-class participation, weekly homework, preparation for assessment tasks, and attempts at 'take home' assessment tasks. The 2 week (mid-semester) non-teaching period is deemed a working period. Please note that your personal workload may vary from the estimated workload.
Weekly Preparation: in-class participation is expected from everyone. Therefore, come well prepared to class.
We strongly recommend that you seek to develop a thorough understanding of the Week 1 and Week 2 lecture topics and homework, as a good grasp of these first principles are essential in developing a working knowledge and understanding of the subsequently more complex concepts and techniques.
'Homework': will be discussed and presented during in-class time in the week following the topic lecture (e.g. the Week 2 topic will be discussed and presented in Week 3). Please note that homework will not be collected for marking. It is your responsibility to check homework using the Q&Ps suggested answers that will be issued at iLearn. Contingent on how in-class activity unfolds, the full set of Q&Ps may be not be discussed during in-class time. It is your responsibility to make sure to work through the full set of Q&Ps during out-of-class time. Suggested answers to CQs will only be discussed during in-class time. Make sure to ask your class lecturer if anything regarding homework seems unclear.
Resources
Textbook: Ross, S., Drew, M., Walk, A., Westerfield, R. and B. Jordan. 2017. Fundamentals of Corporate Finance (7th ed.) N.Ryde, NSW, Australia: McGraw-Hill Education.
Recommended References: can include recent editions of e.g.:
Please note that you are not required to purchase these reference titles.
Technologies Used and Required: you will need a calculator (non-programmable, either scientific or financial, without text capability) to successfully attempt homework, in-class work, and assessment tasks. Moreover, you will require access and skills to operate a computer and software including: 'word processing'; 'spreadsheet'; and 'internet browsers'. In addition, you will need skills to conduct searches for information in the MQ Library 'catalogues', MQ Library 'databases', and MQ Periodicals 'on-line'. Lastly, you will need skills to use 'iLearn', and attempt quizzes at iLearn.
iLearn: make sure to visit the unit pages at least every few days, especially the 'Announcements' section, so that you have timely access to important information and unit material including general announcements, assessment information and results, and suggested answers and to assigned Q&Ps.
Week |
Week |
Lecture Topic # |
Lecture Pre-reading ^ |
Homework - CQ * |
Homework - Q&P ** |
---|---|---|---|---|---|
1 |
Jul 30 |
Introduction to Financial Management and Policy |
Ch 1 (not part 1.7) & Ch 2 |
1.2&4&5; 2.1 |
1.4; 2.1&2&6&13&17&23 |
2 |
Aug 6 |
'Practice Quiz' available (held at AFIN858 iLearn) Financial Statements and Long-term Financial Planning |
Ch 3 & Ch 4 |
Refer to iLearn |
Refer to iLearn |
3 |
13 |
'Quiz 1' - out of 10 weekly assessable quizzes @10% (held at AFIN858 iLearn) Valuation of Future Cash Flows - Time Value of Money |
Ch 5 |
" |
" |
4 |
20 |
Valuation of Future Cash Flows - Valuing Shares & Bonds |
Ch 6 |
" |
" |
5 |
27 |
Capital Budgeting - Net Present Value & Other Investment Criteria |
Ch 7 |
" |
" |
6 |
Sep 3 |
Capital Budgeting - Capital Investment & Project Appraisal 'Class Test' @35% information issued (at AFIN858 iLearn) |
Ch 8 (not pp. 246-7) Ch 9 (only parts 9.1&2&6) |
" |
" |
7 |
10 |
Risk and Return - Capital Market History |
Ch 10 |
" |
" |
- |
- |
2 WEEK RECESS (NON-TEACHING PERIOD)^^ |
- |
- |
- |
8 |
Oct 1+ |
'Class Test' @35% (held at your scheduled class venue as the first activity) Risk and Return - Security Market Line |
Ch 11 |
" |
" |
9 |
8 |
Current Investment Decisions & Long Term Financing |
Ch 14 (not part 14.4) Ch 15 (not pp.481-2) Ch 16 (only parts 16.1&5&7) |
" |
" |
10 |
15 |
Cost of Capital and Long-term Financing - Shareholder Value |
Ch 17 |
" |
" |
11 |
22 |
Cost of Capital and Long-term Financing - Capital Structure |
Ch 19 (not pp.641-2) |
" |
" |
12 |
29 |
Cost of Capital and Long-term Financing - Dividend Policy 'Final Examination' @55% information issued (at AFIN858) |
Ch 18 (not p. 605) |
" |
" |
13 |
Nov 5 |
Topic 'Review' 'Final Examination' Structure & Preparation 'Tips' |
- |
" |
" |
# Indicative, subject to change. To be confirmed at iLearn.
* CQ refers to in-chapter 'Concept Question' in the textbook. Discussed during in-class time in the week following the topic lecture (e.g. the Week 2 CQs will be discussed in Week 3). Indicative, subject to change. To be confirmed at iLearn.
** Q&P refers to end-of-chapter 'Questions and Problems' in the textbook Discussed during in-class time in the week following the topic lecture (e.g. the Week 2 Q&Ps will be discussed in Week 3). Indicative, subject to change. To be confirmed at iLearn.
^ Lecture pre-reading. Subject to confirmation at iLearn.
^^ Refer to the Unit-guide section 'Delivery' sub-section 'Workload'.
+ Monday 1 October is a national public holiday.
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:
Undergraduate 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).
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/study/getting-started/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
Disruption to Studies Policy
Further information regarding disruption to studies policy is available here
http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
http://www.mq.edu.au/policy/docs/disruption_studies/schedule_outcomes.html
http://www.mq.edu.au/policy/docs/disruption_studies/schedule_evidence.html
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:
None.