FINS5512 FINANCIAL MARKETS AND INSTITUTIONS Course Outline .

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Business SchoolSchool of Banking and FinanceFINS5512FINANCIAL MARKETS AND INSTITUTIONSCourse OutlineSemester 1, 2016Part A: Course-Specific InformationPart B: Key Policies, Student Responsibilitiesand Supportbusiness.unsw.edu.auCRICOS Code 00098G

Table of ContentsPART A: COURSE-SPECIFIC INFORMATION11STAFF CONTACT DETAILS12COURSE DETAILS12.12.12.22.32.4Teaching Times and LocationsUnits of CreditSummary of CourseCourse Aims and Relationship to Other CoursesStudent Learning Outcomes111123LEARNING AND TEACHING ACTIVITIES43.1 Approach to Learning and Teaching in the Course3.2 Learning Activities and Teaching Strategies4546ASSESSMENT4.1 Formal Requirements4.2 Assessment Details4.3 Assessment Format6695COURSE RESOURCES106COURSE EVALUATION AND DEVELOPMENT107COURSE SCHEDULE10PART B: KEY POLICIES, STUDENT RESPONSIBILITIES AND SUPPORT138PROGRAM LEARNING GOALS AND OUTCOMES139ACADEMIC HONESTY AND PLAGIARISM1410STUDENT RESPONSIBILITIES AND eral Conduct and BehaviourOccupational Health and SafetyKeeping Informed141414151511SPECIAL CONSIDERATION1512STUDENT RESOURCES AND SUPPORT15business.unsw.edu.auCRICOS Code 00098G

PART A: COURSE-SPECIFIC INFORMATION1 STAFF CONTACT DETAILSLecturer-in-chargeRoomPhone NoEmailConsultation Times: Wallace Fan: BUS365: 9385 6287: wallace.fan@unsw.edu.au: Monday 5:00 – 6:00 (or by appointment)LecturerRoomPhone NoEmailConsultation Times: A/Professor Jason Zein: BUS310: 9385 5875: j.zein@unsw.edu.au: (TBC by appointment)2 COURSE DETAILS2.1 Teaching Times and LocationsThere are two lecture streams and one web delivery streamLectures start in Week 1 to Week 12 (Make up session in Week 13):The Time and Location are:Monday: 14:00 – 17:00 TETB LG07Monday: 18:00 – 21:00 TETB LG032.2 Units of CreditThe course is worth 6 units of credit.There is no parallel teaching in this course.2.3 Summary of CourseThis course will provide students with an introduction to Australian financialmarkets and an evaluation of the institutions, instruments and participantsinvolved in the industry. The mainstream markets to be evaluated include theequity, money, bond, futures, options and exchange rate markets. The subjectsystematically reviews each of the mainstream financial markets andinvestigates the various institutional participants and the different types offinancial instruments offered2.4 Course Aims and Relationship to Other CoursesThis course is a gateway course to the electives in each of the finance streams.It provides some of the basic tools that you will need in our advanced financeclasses, as well as to contribute as a finance professional upon graduation.business.unsw.edu.auCRICOS Code 00098G1

2.5 Student Learning OutcomesBy the end of this course you should:L01Understand the Australian banking system and describe the role of regulatorybodies in regulating how banks manage their capital.L02Describe the types of equity securities that companies can use to raise equitycapital and how these securities can be listed and traded on the AustralianStock Exchange.L03Apply different company valuation techniques to determine share prices.L04Describe the characteristics of different types of debt securities and be able toprice them.L05Describe different theories of how interest rates are determined and explain therelationship between the term to maturity, risk, and interest rates.L06Understand the mechanics and conventions of the foreign exchange marketand the motivation of different participants in trading foreign currencies. Thisinvolves: Reading, interpreting and transposing FX quotations. Calculating cross-rates. Identifying the factors that determine the value of a currencyL07Gain an understanding of the characteristics of derivatives instruments (futuresand options contracts), the different motivations for their use and how they aretraded. Specifically you should: Recognise which types of futures / options contracts to use to hedge various risk exposures Appreciate the various risks involved in trading derivative instruments Describe the factors that determine the pricing of derivative instruments.L08Possess the ability to discuss and write about the links between the theory offinancial markets and the reports in the financial pressThe Course Learning Outcomes are what you should be able to DO by the end of thiscourse if you participate fully in learning activities and successfully complete theassessment items.The Learning Outcomes in this course also help you to achieve some of the overallProgram Learning Goals and Outcomes for all postgraduate coursework students in theBusiness School. Program Learning Goals are what we want you to BE or HAVE by thetime you successfully complete your degree (e.g. ‘be an effective team player’). Youdemonstrate this by achieving specific Program Learning Outcomes - what you are ableto DO by the end of your degree (e.g. ‘participate collaboratively and responsibly inteams’).For more information on the Postgraduate Coursework Program Learning Goals andOutcomes, see Part B of the course outline.business.unsw.edu.auCRICOS Code 00098G2

Business Postgraduate Coursework Program Learning Goals and Outcomes1. Knowledge: Our graduates will have current disciplinary or interdisciplinary knowledgeapplicable in local and global contexts.You should be able to identify and apply current knowledge of disciplinary or interdisciplinary theory andprofessional practice to business in local and global environments.2. Critical thinking and problem solving: Our graduates will have critical thinking and problemsolving skills applicable to business and management practice or issues.You should be able to identify, research and analyse complex issues and problems in business and/ormanagement, and propose appropriate and well-justified solutions.3. Communication: Our graduates will be effective communicators in professional contexts.You should be able to:a. Producewritten documentsthat communicatecomplexdisciplinaryideas andinformation effectively for the intended audience and purpose, andb. Produce oral presentations that communicate complex disciplinary ideas and informationeffectively for the intended audience and purpose.4. Teamwork: Our graduates will be effective team participants.You should be able to participate collaboratively and responsibly in teams, and reflect on your ownteamwork, and on the team’s processes and ability to achieve outcomes.5. Ethical, social and environmental responsibility: Our graduates will have a sound awareness ofethical, social, cultural and environmental implications of business issues and practice.You should be able to:a. Identify and assess ethical, environmental and/or sustainability considerations in businessdecision-making and practice, andb. Consider social and cultural implications of business and /or management practice.The following table shows how your Course Learning Outcomes relate to the overallProgram Learning Goals and Outcomes, and indicates where these are assessed (theymay also be developed in tutorials and other activities):Program Learning Goalsand OutcomesCourse Learning OutcomesCourse AssessmentItemThis course helps you toachieve the followinglearning goals for allBusiness postgraduatecoursework students:On successful completion of thecourse, you should be able to:This learningoutcome will beassessed in thefollowing items:1Explain the operation of the AustralianCapital Markets as outlined in theStudent Learning Outcomes. Classparticipation GroupPresentations Mid-session test Final Exam Case Studies GroupPresentation Mid-session test Final Exam2KnowledgeCritical thinking andproblem solvingbusiness.unsw.edu.auCRICOS Code 00098GApply the concepts outlined in theStudent Learning Outcomes to currentsituations.3

3a3b4WrittencommunicationOral communicationTeamwork5a.5b.Construct written work which islogically and professionally presented.Communicate ideas in a succinct andclear manner.Work collaboratively to complete atask.Ethical, social andenvironmentalresponsibilityIdentify ethical issues in capitalmarketsSocial and culturalawarenessNot specifically addressed in thiscourse. GroupPresentation Individual selfreflection report Final Exam Case Studies Classparticipation GroupPresentation GroupPresentation Individual selfreflection reporton the GroupAssignment Case Studies Final Exam3 LEARNING AND TEACHING ACTIVITIES3.1 Approach to Learning and Teaching in the CourseThere is a lot of material to cover in this class and we want to ensure that it will berelevant and meaningful to you in class and after you graduate. To promote and helpachieve this objective, we nominated the “guided self-learning” method as the primarylearning approach.Via this approach, students are presented with the best opportunity to learn and retainknowledge of the course material through self-learning, assisted by case discussions todevelop the main concepts. Guided self-learning is expected to provide a greater depthof understanding of the concepts compared to traditional lecture styles and facilitate ahigher level of understanding of the issues so that students can apply their knowledgeto new situations encountered in institutions. Guided self-learning also equips studentsfor lifelong learning through providing the framework for self-learning.business.unsw.edu.auCRICOS Code 00098G4

3.2 Learning Activities and Teaching StrategiesSession structureThis course consists of one three-hour sessions per week. These sessions will beorganised into mainly two parts: The first part will be a summary lecture of the key concepts of the week’s topic(Refer Section 7 – Course schedule). This will be brief and will be predicated onthe fact that the class has done adequate pre-reading; The second part will be case based discussions. The objective is to provide you withan interactive environment in which to enhance your learning and your enjoyment ofthe course. Each assigned case is related to the topic of the week. Students areexpected to review and analyse the case prior to lecture meeting time. In class, thelecturer will help facilitate discussions of the case and provide a lively forum for theclass to apply the concepts learned. But, it should be emphasised and noted thatstudents accept and maintain ownership of the discussions.Constructive participations are highly encouraged, expected and will be formed part ofthe course assessment.The sessions may from time-to-time include relevant topical news to enable practicalapplication on the subject matter.CommitmentPrior to the lectures, students are expected to thoroughly prepare by reading allrelevant material which includes the relevant chapters of the textbook and the assignedcase(s).All cases have been carefully selected to ensure currency and relevancy of the topics.By enrolling in this course, all students are signed on to the commitment of thefollowing “4 Ps”:Preparation – You will read all pre-session material and diligently prepare for the case.Otherwise, there will be limited value you would gain from this course and our face-toface time in class. You are encouraged to prepare for the lectures with your peers and/oryour group.Presence – You will be present “physically” and “mentally”. Not being present, youcannot not learn, and more importantly, you cannot add to the group discussion.Promptness – You attend the class on time. Your lateness would unnecessarilydisrupt the discussion and deprecate the decorum of the process.Participation – It is everyone’s responsibility to share his/her understanding and viewwith the class in order to advance the group’s skills and knowledge.The commitment is two-ways. The lecturer is committed to make the course asatisfying development experience. The lecturer will question and challenge studentsto ensure the class’ skills and knowledge base is enhanced.business.unsw.edu.auCRICOS Code 00098G5

Group Assignment / presentationsGroup of no more than 7 students will be formed and select a ASX listed company (tobe approved by the Lecturer-in-charge) as the subject of the assignment. It is expectedthat the group will apply the learnings to the company and deliver a well thought outtwenty (20) minute presentation to the class. The purpose of these group activities is toallow you to: apply the concepts in the text and readings to a practical example; enhance critical thinking and analysis skills; enhance presentation skills; and engage with others in the classStudents are given continuous feedback about their progress throughout the term.4 ASSESSMENT4.1 Formal RequirementsIn order to pass this course, you must: achieve a composite mark of at least 50; and make a satisfactory attempt at all assessment tasks (see below).4.2 Assessment DetailsAssessment TaskWeightingLengthDue DateParticipation:(i) Case analysis,(ii) online discussion,(iii) in-class discussion20%Mid-term Exam15%1 hourEnd of Week 5Group Assignment /presentation Self-reflection25%20 minutesWeek 125%1 pageFinal Exam35%2 hoursTotalbusiness.unsw.edu.auCRICOS Code 00098GOngoingUniversity Exam Period100%6

ParticipationWeight 20%Assessment on participation will consider both the quantity and quality of yourcontribution in 3 parts: (i) case analysis (to be submitted weekly via Turnitin), (ii) inclass contribution and (iii) online (via moodle) discussions. The guideline to do well inthis assessment is to adhere to the aforementioned 4Ps principles with the followingassessment criteria:Level of ContributionNo positivecontributionDescriptionLittle to no contribution and inconsequentialparticipation. For example: shortstatements infrequently, or simply agreeingwith others.Percentage0–3%Minimal contributionParticipation in attendance; butdemonstrated little awareness of the caseand the flow of discussion. For example:offering a short opinion with little regard forwhat had already been discussed.4–9%SatisfactorycontributionGood level of participation and somecontribution of facts or opinion butinadequate analysis of the facts to supportthe views expressed.10–13%Good contributionActive participation in content andfrequency; expresses views; offers relevantanalysis; supports, argues for but is open tomodifying positions; facilitates someclarification of others’ thoughts.Substantial participation in content andfrequency; expresses relevant ideas withclear thoughtful process; offers detailanalysis; enhance others’ participation andunderstanding of the issues; originalcomments and direction; moves discussionto conclusion.14–16%Superior contribution17–20%Note:There are total of 7 assessable case analysis starting from Week 2. Students arerequired to com plete the w rite-up of the analysis and subm itted via turnitin priorto class begins. One of 7 subm ission will be random ly selected and m arked.Case analysis w ill be no m ore than 1 page on the case and topic given and to besubm itted via turnitin.Mid-session TestWeight: 15%The midsession test will be held in the end of Week 5. The test will be 60 minutes longand students will be able to attempt it during a specific time frame. The test will coverweek 1 to 5 and will be multiple choices. There will be 50 multiple choice questions.More details will be provided on course website closer to the date including instructionson how to login and conduct the test.Students must provide their own scientific calculator in accordance with the S Code 00098G7

Group Presentation (25%) Self Reflection Report (5%)Weight 30%The Group Presentation (Weight of 25%) is intended to develop your skills in research,your ability to apply your learnings and your adeptness to concisely and coherentlypresent your ideas as well as work in groups.You will work in a group of no more than 7 students and your group will select an ASXlisted company (to be approved by the Lecturer) and conduct the following: You are a team of bankers of a full serviced investment bank that is involvedwith providing total capital and treasury solutions to ASX listed companies.You and your team will be expected to research the company, utilise and applythe learnings from the course, and present your recommendation andjustification of your recommendation to the class. Your preparation work will involve research & analysis on:o the company’s current funding and treasury practice;o current news/development of the company and prevailing marketsconditions;o identifying a timely opportunity (in relations to funding and treasurymanagement) for the company. Your presentation will be a “Pitch” and justify your proposal with prevailingmarket information in relation to your recommendation. A more detailed assessment guideline will be provided in class. Individually, you are required to submit a self-reflection report (Weight of 5%) ofyour group work. For example, how do you feel of your group work? what werethe issues in relation to working with your colleagues in the group? and howwould you have handled these in the future when faced with similar issues?[maximum 1 page to be submitted after presentation]Grading of the presentation will take into account: The depth of understanding of the subject company (ie, have you adequatelyresearched the company?) Has the proposal adequately considered the practicality of prevailing marketconditions? (ie, is the proposal feasible?) Thought given to how best to present the idea (ie how can I best communicatemy analysis and ideas with the audience?) Structure of the presentation (ie do the ideas flow properly and arrive at theconclusion convincingly?) Originality of ideas (ie has the student thought through the issues or justregurgitated the class discussion/notes/text book?) Regurgitation will beawarded a low mark.business.unsw.edu.auCRICOS Code 00098G8

The Group will be expected to work as a team which means a lot of discussion, trustand coordination involved. Not all group members need to present but rather eachmember must contribute to the overall quality.Any evidence of student(s) freeloading within a group will be given a mark of zero. Nonegotiation what-so-ever. So, it is important that you are, at times, cognisant of yourbehaviour and work collaboratively as a part of the team to achieve the task. There is apeer marking component. Therefore, your final mark for the group project may differfrom the mark awarded to the group.Further details will be released in Week 1Final ExamWeight 35%Date: The final exam is centrally administered and will be scheduled during theuniversity examination period. Details will be available later in the semester. THEEXAM IS HELD ON CAMPUS.Duration: 2 hoursCalculators: Students will need to provide their own calculator.More details relating to the final exam will be given closer to the time.4.3 Assessment FormatIn the first lecture, the lecturer in charge will provide further clarification on participation,group presentations and the self-reflection essay as well as the marking scheme for thiscomponent.4.4 Late SubmissionNo late submission is allowed. All late submission will be marked with zero mark. Allonline participation on case studies are to be submitted prior to class begins. Anycontribution post class discussion will not be reviewed or considered as part of classparticipation marks.Quality AssuranceThe Business School is actively monitoring student learning and quality of the studentexperience in all its programs. A random selection of completed assessment tasksmay be used for quality assurance, such as to determine the extent to which programlearning goals are being achieved. The information is required for accreditationpurposes, and aggregated findings will be used to inform changes aimed at improvingthe quality of Business School programs. All material used for such processes will betreated as confidential.business.unsw.edu.auCRICOS Code 00098G9

5 COURSE RESOURCESThe prescribed textbook for this course is Christopher Viney and Peter Phillips,Financial Instit

This course will provide students with an introduction to Australian financial markets and an evaluation of the institutions, instruments and participants involved in the industry. The mainstream markets to be evaluated include the equity, money, bond, futures, options and exchange rate markets. The subject

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