CO-FINS3616-Term 1 PDF

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CO-FINS3616-Term 1...

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UNSW Business School Course Outline

FINS3616 International Business Finance - 2020 Study Level Undergraduate

Term Term 1

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UOC 6 Units of Credit

Location On Campus

School Banking & Finance

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1. Course Details Summary of Course This course provides students with the basic theoretical and practical knowledge required for the management of financial functions of firms operating in several countries.This includes necessary theory and evidence basic to an understanding of international capital and foreign exchange markets. In particular, this course covers topics such as international diversification, foreign direct investment decisions, cost of capital for multinational corporations, financial and political risks, the role of multinational banks and the financial benefits of Euro-currencies and Eurobonds, short-term financing, and international equity markets. The general emphasis is on the identification and management of risk relating to exchange rate fluctuations and government policy changes.

Teaching Times and Locations Please note that teaching times and locations are subject to change.Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations. View course timetable

Course Policies & Support The Business School expects that you are familiar with the contents of this course outline and the UNSW and Business School learning expectations, rules, policies and support services as listed below: Program Learning Outcomes Academic Integrity and Plagiarism Student Responsibilities and Conduct Special Consideration Protocol for Viewing Final Exam Scripts Student Learning Support Services Further information is provided in the Assessment and Policies and Support sections. Students may not circulate or post online any course materials such as handouts, exams, syllabus or similar resources from their courses without the written permission of their instructor.

Course Aims and Relationship to Other Courses This is a core subject for all students who wish to graduate with a finance major in the BCom. Typically, students undertake this course in their second or third year of the BCom programme. This course builds on FINS1613. The course is relevant to a broad range of professions including corporate treasury management, corporate finance, international securities trading and investment management.

Student Learning Outcomes

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The Course Learning Outcomes (CLOs) are what you should be able to demonstrate by the end of this course, if you participate fully in learning activities and successfully complete the assessment items. CLOs also contribute to your achievement of the Program Learning Outcomes (PLOs), which are developed across the duration of a program for all coursework students in the Business School. More information on PLOs is available under Policies and Support . PLOs are, in turn, directly linked to UNSW graduate capabilities and the aspiration to develop “globally focussed graduates who are rigorous scholars, capable of leadership and professional practice in an international community”. The following table shows how the CLOs for this course relate to the overall PLOs and indicates where each CLO and PLO is assessed:

Course Learning Outcomes

Program Learning Outcomes

On successful completion of the course, you should be able to:

This course helps you to This learning outcome will be develop the following assessed in the following Program Learning items: Outcomes:

PLO 1: Business Analyse and discuss the international macroknowledge economic and political environment

Course Assessment Item

Tutorial Contribution Mid-session Exam #1 Mid-session Exam #2 Final Exam

Identify exchange rate risk and develop hedging strategies to deal with it

PLO 1: Business knowledge PLO 2: Problem solving

Tutorial Contribution Mid-session Exam #1 Mid-session Exam #2 Final Exam

Evaluate foreign direct investment and acquisition activities

PLO 1: Business knowledge PLO 2: Problem solving

Tutorial Contribution Mid-session Exam #1 Mid-session Exam #2 Final Exam

Construct professional and logical written work in the context of international finance Compare, contrast, and assess varying exchange rate systems and governance systems of various countries

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PLO 3: Business communication

Written project (iLab project)

PLO 6: Global and cultural competence

Written Project (iLab project)

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2. Staff Contact Details Position Title

Name

Email

Location

Phone

Lecturer- AProf incharge

Mark HumpheryJenner

Email

Room 350, UNSW Business School

02 9385 5853 –

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Consultation Times

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3. Learning and Teaching Activities Approach to Learning and Teaching in the Course We seek to create an interesting, challenging, relevant, satisfying, and engaging education experience. To help achieve this objective we have a number of teaching aims: Create a climate of engagement, dialogue and ongoing feedback between students and lecturers regarding the content, teaching strategies, learning experiences and outcomes (Guidelines on Learning that Inform Teaching at UNSW (GLIT) numbers 2,7,10) Cater to a variety of learning preferences and abilities by providing a range of learning activities and teaching methods (GLIT number 9); Develop independent learning skills and create an environment that both provides structure and guidance as well as encouraging students to extend their learning (GLIT numbers 2,11); Develop skills in collaboration and teamwork, which is directly relevant to the skills required of a finance professional (GLIT numbers 6, 14);

Learning Activities and Teaching Strategies The Role of Lectures The lectures build from the relevant core readings (in the textbook) to set out the main ideas, theories and conceptual frameworks for the course. Lectures include interactive learning processes and will synthesize materials from a range of sources, including your own prior knowledge and experiences. We expect you to come to and be prepared for each lecture. This means you should have read and considered the relevant chapter. From a time management perspective, this means you will need to allocate at least three hours per week for basic reading. If you need any assistance in managing your time you will find the Australian School of Business’ Education Development Unit (EDU) a useful resource.

The Role of Tutorials The weekly tutorials provide you with an interactive environment in which to enhance your learning and your enjoyment of the course. These tutorials include problem exercises and discussions of concepts covered in lecture. All tutorial questions are from the end-of-chapter exercises in the textbook. Students should prepare detailed answers to the problems prior to the tutorial and be prepared to participate in problem solutions. In the second half of the semester, you will also be presenting your group projects during tutorial. By actively engaging in the tutorials, you will increase your confidence and competence in technical, presentation and critical thinking skills. They also provide you with the opportunity to enhance your interpersonal skills by interacting with others, working together in diverse groups, forging learning networks, learning about other cultures and learning to understand values and opinions different from your own.

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4. Assessment Formal Requirements In order to pass this course, you must: achieve a composite mark of at least 50 out of 100; meet any additional requirements described in the Assessment Summary section. You are expected to attempt all assessment requirements in the course.

Assessment Structure Assessment Task Class Contribution

Weighting 10%

(Tutorial participation) Mid-session Exam #1 Mid-session Exam #2 Written Project (based on iLab Project) Final Exam

Length

Due Date

Tutorial session

Ongoing

(1 hour weekly) 25% 25% 10% 30%

2 hours 2 hours

– –

–

–

2 hours

University Exam Period

Assessment Summary As a student at UNSW you are expected to display academic integrity in your work and interactions. Where a student breaches the UNSW Student Code with respect to academic integrity, the University may take disciplinary action under the Student Misconduct Procedure. To assure academic integrity, you may be required to demonstrate reasoning, research and the process of constructing work submitted for assessment. To assist you in understanding what academic integrity means, and how to ensure that you do comply with the UNSW Student Code, it is strongly recommended that you complete the Working with Academic Integrity module before submitting your first assessment task. It is a free, online self-paced Moodle module that should take about one hour to complete. You should complete the Working with Academic Integrity module before submitting any written assessment by the due date. Non-compliance with the UNSW Student Code may result in disciplinary action.

Tutorials (10%) Tutorials in this course are one-hour long and held weekly (First in week 1, last in Week 10). Tutorials

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facilitate small group discussion of course materials and permit ongoing assessment of students’ effort and achievement of learning outcomes. Tutors will assess student performance in their registered tutorial based on his/her active participation (including questions) and contribution to the learning perspective and interest of fellow students in the subject. Materials covered for tutorial sessions each week will be posted on Moodle in advance. Students are required to attend related lectures and study assigned materials before attending a tutorial session. * Tutorial marks will be made available in early May on Moodle. Students should contact their tutors to resolve any concerns related to tutorial assessments before May 10th.

Exams (80%) Three examinations focus on evaluating students’ understanding of the main concepts covered in class with a special focus on the learning outcomes. Examinations may consist of multiple choice and problemsolving questions that test students’ knowledge of relevant theories and methodologies related to International Business Finance, but also the application of these theories in real-world settings. The exams will be designed to focus on and highlight both the concepts covered and the computations required in applying these concepts. Midterm exam #1 is scheduled on Saturday Week 4, and Midterm exam #2 on Saturday Week 7. The final examination will be held during the University Exam Period. Midterm exam #1 covers the lecture content from Week 1 to Week 3, Midterm exam #2 covers the lecture content from Week 4 to Week 6, and final exam covers the lecture content from week 7 to 10. Students should clear their schedule in order to ensure they are able to attend the exam this week. The final exam is not comprehensive and will include those topics covered after the mid-session exams. Details will be provided in due course.

Written Project (10%) 1. The focus of the written project is on evaluating students’ understanding of comparative economic concepts covered in class with a special focus on the learning outcomes. Specifically, the project will assess students understanding and application of the real-world examples. 2. The task of the project is to forecast foreign exchange rates using regression models and to understand how to utilize forecast information. 3. Each student is required to attend a iLab session either in Week 3 or Week 4 to learn how to use the Factset Database to access historical data of foreign exchange rates and macroeconomic information across countries. 4. Students are required to download historical data from the Factset database and answer the list of assigned questions. Each student will submit an individually prepared 2-page, grammatically correct, write-up that answers specific questions in Week 10. 5. Students will submit their written assignment via Turnitin, accessed through myUNSW. Late submissions will not be accepted. 6. The specific details of each student's project, as well as a specific assessment rubric, will be available on Moodle following the end of week 2.

Assignment Submission Procedure Students will submit their written assignment via Turnitin, accessed through myUNSW.

Assessment Feedback business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

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Feedback on student performance from formative and summative assessment tasks will be provided to students in a timely manner. Assessment tasks completed within the teaching period of a course, other than a final assessment, will be assessed and students provided with feedback, with or without a provisional result, within 10 working days of submission, under normal circumstances. Feedback on continuous assessment tasks (e.g. laboratory and studio-based, workplace-based, weekly quizzes) will be provided prior to the midpoint of the course.

Special Consideration You can apply for special consideration when illness or other circumstances beyond your control, interfere with your assessment performance (to apply see Special Consideration on the UNSW Current Students page). Special Consideration is primarily intended to provide you with an extra opportunity to demonstrate the level of performance of which you are capable. Special Consideration applications will be assessed centrally by the Case Review Team within Student Lifecycle. The Case Review team will update the online application with the outcome and add any relevant comments. Please note the following: Applications can only be made through Online Services in myUNSW. Applications will not be accepted by teaching staff. The lecturer-in-charge/course coordinator will be automatically notified when you lodge an online application for special consideration. Applying for special consideration does not automatically mean that you will be granted a supplementary exam or other concession. If you experience illness or misadventure in the lead up to an exam or assessment, you must submit an application for special consideration, either prior to the examination taking place, or prior to the assessment submission deadline , except where illness or misadventure prevent you from doing so. If you sit the exam/submit an assignment, you are declaring yourself well enough to do so and are unable to subsequently apply for special consideration. If you become unwell on the day of the exam, you must provide evidence dated within 24 hours of the exam, with your application. The current provisions will continue for exceptional circumstances, for example, if a student falls sick during an exam. Other exceptions will continue to be examined on a case by case basis by the Student Lifecycle team. Special consideration requests do not allow the awarding of additional marks to students. Further information on Business School policy and procedure, as well as supplementary exam dates for the current term, can be found under “Special Consideration” on the Policies and Support page.

The School of Banking and Finance supports the concept to leave the course lecturer-in-charge to stipulate a penalty of 0 to 10% of the percentage weight of the assessment component or part thereof per day. Details of such penalties will be available on the course Moodle page. Applications for extension are restricted to cases of serious illness, bereavement or misadventure and students must provide documentary evidence. Decisions on such applications will be based on policies that are consistent with the policies adopted by UNSW Business School for such cases.

Protocol for Viewing Final Exam Scripts business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

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The UNSW Business School has set a protocol under which students may view their final exam script. Individual schools within the Faculty may also set up a local process for viewing final exam scripts, so it is important that you check with your School. Further school specific information may be included below. Further to the Business School protocol for viewing final exam scripts: 1. A student must lodge a request to view his or her final exam script within 5 working days immediately following the official release of overall course results. This request must be emailed to the School of Banking and Finance at Email. 2. The School may fix a time at which all students wishing to see their exams will be permitted to do so. The date for viewing all final exam scripts with the School of Banking and Finance is the 10th working day after the official release of overall course results, and the School may fix a time for each course on that day. The School may refuse to allow access to the exams at other times.

Protocol for Viewing Other Exam Scripts is the similar to that of viewing final exam scripts except the working days are defined with reference to the release date of specific assessment result.

Quality Assurance The Business School is actively monitoring student learning and quality of the student experience in all its programs. A random selection of completed assessment tasks may be used for quality assurance, such as to determine the extent to which program learning goals are being achieved. The information is required for accreditation purposes, and aggregated findings will be used to inform changes aimed at improving the quality of Business School programs. All material used for such processes will be treated as confidential.

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5. Course Resources You will be able to obtain the latest course announcements and course materials via Moodle. Lecture notes will be available for download at least one day prior to the lecture. Students are encouraged to read the corresponding reference material prior to the lecture. Tutorial solution will be posted after the teaching week.

Prescribed textbook Shapiro, A.C. (2014), Multinational Financial Management, 10th Edition, Wiley.

Other useful reference text Bekaert, Geert, and Hodrick, Robert, 2012, International Financial Management: International Edition, 2nd ed. Pearson Butler, K. (2008). Multinational Finance, John Wiley. Fourth Edition. This book is available at the UNSW bookshop located near the Quadrangle. Lecture notes, announcements and other materials are all provided on Moodle. Students should make a point of checking this site regularly.

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6. Course Evaluation & Development Feedback is regularly sought from students and continual improvements are made based on this feedback....