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Academic Year : 2019

as to introduce them to the three basic ideas underpinning finance, namely the time value of money, diversification and arbitrage. In doing so, the course provides students with introductory exposure to financial transactions, institutions and markets including debt, equity, foreign exchange and derivative markets and the instruments traded therein. It also provides students with a solid foundation for later studies in finance.

foreign exchange, derivatives markets and contracts. 2. Understand the ideas behind the time value of money and be able to calculate the value of cash flows relating to a number of financial instruments. 3. Understand the concept of diversification, including the risk and return relationship and have the ability to calculate optimal weights for a portfolio comprising of two financial assets. 4. Understand concepts of arbitrage, and utilise derivatives for risk management purposes.

students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include: Student Assessment (Coursework) Policy and Procedure Special Assessment Consideration Policy and General Information Student Surveys and Evaluations Deferred Examinations Student Complaint Resolution Policy and Procedure

applications. Students will also be shown how these techniques are applied to research today.

printing materials.

by the Examinations Office on the day of the exam are permitted in the exam room.

You will also have access to a CBE issued dictionary (Australian Mini Oxford dictionary, fourth edition). Only dictionaries provided by the Examinations Office on the day of the exam are permitted in the exam room.

calculator (HP Scientific Calculator 300s+) for the final examination.

Edition, Pearson Education, 2016. Note that the textbook readings from this recommended resource are optional. In addition, this textbook is available to students as a 2 hour loan from the ANU library.

Written and verbal feedback will be addressed to: the whole class; and to individuals.

students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Any student identified, either during the current semester or in retrospect, as having used ghost writing services will be investigated under the University’s Academic Misconduct Rule. Communication It is preferable to contact the lecturer via email. Email If necessary, the lecturers and tutors for this course will contact students on their official ANU student email address. Information about your enrolment and fees from the Registrar and Student Services' office will also be sent to this email address. Announcements

Students are expected to check the Wattle site for announcements about this course, e.g. changes to timetables or notifications of cancellations. Notifications of emergency cancellations of lectures or tutorials will be posted on the door of the relevant room.

1

Topic: Course Administration & Overview, Introduction to Financial Markets & Time Value of Money Activity: Lecture 1 Reading: Lecture Notes 1; Textbook (Titman et al: Ch. 2 & 5, pp. 610 - 613).

2

Topic: Time Value of Money: Financial Maths Activity: Lecture 2, Workshop Week 2, Tutorial 1 Reading: Lecture Notes 2; Textbook (Titman et al: Ch. 5 & 6).

Tutorial Questions 1

3

Topic: Time Value of Money: Valuing Shares & Debt Instruments Activity: Lecture 3, Workshop Week 3, Tutorial 2 Reading: Lecture Notes 3; Textbook (Titman et al: pp. 4-11, Ch. 9 (until p. 281) & Ch. 10 (pp. 301-308 & 315 to end of the chapter)).

Tutorial Questions 2 Quiz 1

4

Topic: Time Value of Money: Making Investment Decisions Activity: Lecture 4, Workshop Week 4, Tutorial 3 Reading: Lecture Notes 4; Textbook (Titman et al: pp. 378-380 (read first), & pp. 335-343).

Tutorial Questions 3

5

Topic: Diversification: Defining Risk, Understanding its Relationship with Return & Calculating Return Activity: Lecture 5, Workshop Week 5, Tutorial 4 Reading: Lecture Notes 5; Textbook (Titman et al: Ch.7 & pp.223-233).

Tutorial Questions 4 Quiz 2

6

Topic: Diversification: CAPM and The Required Rate of Return for Risk Activity: Lecture 6, Workshop Week 6, Tutorial 5 Reading: Lecture Notes 6; Textbook (Titman et al: pp.233-245).

Tutorial Questions 5 Mid-Semester Exam (TBC)

7

Topic: Diversification: The Cost of Capital Activity: Lecture 7, Workshop Week 7, Tutorial 6 Reading: Lecture Notes 7; Textbook (Titman et al: Ch.14 (up to p. 469)).

Tutorial Questions 6

8

Topic: Arbitrage: Futures & Forwards Contracts Activity: Lecture 8, Workshop Week 8, Tutorial 7 Reading: Lecture Notes 8; Textbook (Titman et al: Ch.20).

Tutorial Questions 7 Quiz 3

9

Topic: Arbitrage: Futures, Forwards & Options Contracts Activity: Lecture 9, Workshop Week 9, Tutorial 8 Reading: Lecture Notes 9; Textbook (Titman et al: Ch.20).

Tutorial Questions 8 Quiz 4

10

Topic: Arbitrage: Options Contracts Activity: Lecture 10, Workshop Week 10, Tutorial 9 Reading: Lecture Notes 10; Textbook (Titman et al: Ch.20).

Tutorial Questions 9

11

Topic: Arbitrage: Forwards, Futures and Options Contracts as Tools for Risk Management Activity: Lecture 11, Workshop Week 11, Tutorial 10 Reading: Lecture Notes 11; Textbook (Titman et al: Ch.20).

Tutorial Questions 10 Quiz 5

12

Topic: Review Lecture Activity: Lecture 12, Workshop Week 12, Tutorial 11 Reading: Lecture Notes 12

Tutorial Questions 11

V A LU E

D U E D AT E

T ASK

RET URN OF ASSESSMEN T

L E AR N IN G OUT COMES

In-Tutorial Quizzes

15 %

05/08/2019

25/10/2019

2,3,4

Mid-Semester Exam

25 %

26/08/2019

28/09/2019

1,2

Final Examination

60 %

31/10/2019

28/11/2019

1,2,3,4

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website. In rare cases where online submission

using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

· Students will be required to sit 5 in-tutorial quizzes throughout the semester. ·

Value: 15 % Due Date: 05/08/2019 Return of Assessment: 25/10/2019 Learning Outcomes: 2,3,4

These quizzes will be run according to the

schedule in the "Class Structure and Content" section of this summary (unless otherwise stated by the lecturer). ·

The quizzes will be 10 – 15 minutes in duration and held at the end of the tutorial.

·

Students MUST sit the quiz in the tutorial they are enrolled in, otherwise the quiz will not count.

·

The content for the quizzes will be limited to the required material for the topic on which the tutorial is

held (previous week’s lecture material). ·

Students’ best 4 marks will count towards 15% of their overall course grade.

·

Students will receive their marked quizzes back in the tutorial the following week.

·

This assessment task needs to be completed in pen (NOT PENCIL). Note: Students are required to prepare worked solutions to tutorial questions, bring these solutions to tutorials, and be prepared to participate in tutorial discussions. This is an important step in preparing for the tutorial quizzes.

· This exam is optional and redeemable for students. ·

Value: 25 % Due Date: 26/08/2019 Return of Assessment: 28/09/2019 Learning Outcomes: 1,2

The duration of the exam is 90 minutes.

· It is a closed book exam, with no formula sheet provided. ·

The questions will be a mixture of theory and practical questions.

· Students will need to review and revise all material covered in lectures 1 to 4, inclusive (i.e. the time value of money topics), as well as content in corresponding workshops and tutorials. ·

The mid-semester exam will count towards either 0% or 25% of a student’s overall course grade.

·

More details regarding the exam will be provided as the exam approaches.

·

This assessment task needs to be completed in pen (NOT PENCIL). Note: Mid-semester exams will be offered in weeks 6 or 7. Deferred exams for mid-semester exams will also be offered. Like final exams, applications for deferred mid-semester exams will be handled centrally. Deferred mid-semester exams are likely to be held in approximately week 10. Centrally administered examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. Please check ANU Timetabling for further information. Exam scripts will not be returned.

You will need access to a calculator to complete exercises required for this course. You will be provided with a calculator (HP Scientific Calculator 300s+) for the final examination.

You will also have access to a CBE issued dictionary (Australian Mini Oxford dictionary, fourth edition).

The final examination will be closed-book, and based on all the work covered throughout the duration of the semester. The final examination is

Value: 60 % Due Date: 31/10/2019 Return of Assessment: 28/11/2019 Learning Outcomes: 1,2,3,4

worth 60% (or 85% if the mid-semester exam is redeemed) of the overall course grade and will have a duration of three hours. The exam will include a mixture of theoretical and numerical questions. Students will be provided with further details regarding the exam as it approaches. This assessment task needs to be completed in pen (NOT PENCIL). Centrally administered examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. Please check ANU Timetabling for further information. Exam scripts will not be returned.

You will be provided with a calculator (HP Scientific Calculator 300s+) for this exam. Only calculators provided by the Examinations Office on the day of the exam are permitted in the exam room.

You will also have access to a CBE issued dictionary (Australian Mini Oxford dictionary, fourth edition).

integrity is about behaving ethically, committing to honest and responsible scholarly practice and upholding these values with respect and fairness.

The ANU commits to assisting all members of our community to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to be familiar with the academic integrity principle and Academic Misconduct Rule, uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with.

The Academic Misconduct Rule is in place to promote academic integrity and manage academic misconduct. Very minor breaches of the academic integrity principle may result in a reduction of marks of up to 10% of the total marks available for the assessment. The ANU offers a number of online and in person services to assist students with their assignments, examinations, and other learning activities. Visit the Academic Skills website for more information about academic integrity, your responsibilities and for assistance with your assignments, writing skills and study.

keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.

submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

assessment task is not submitted by the due date, a mark of 0 will be awarded.

on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Policy and Procedure. The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information. In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy. If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes. Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable). ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support ANU Diversity and inclusion for students with a disability or ongoing or chronic illness ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload. ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the

University student community. ANUSA supports and represents undergraduate and ANU College students PARSA supports and represents postgraduate and research students

Details

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Wednesday

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Details

61251080 [email protected]

Wednesday

10:00

12:00

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