ECON 1009 - International Financial Institutions & Markets I
North Terrace Campus - Semester 1 - 2015
General Course Information
Course Code ECON 1009 Course International Financial Institutions & Markets I Coordinating Unit School of Economics Term Semester 1 Level Undergraduate Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Quota A quota may apply Course Description This course provides an introduction to the institutions, markets and securities that form the basis of modern financial and monetary systems. Australian as well as international economies and their financial systems will be considered with reference to current financial news and affairs. This course also introduces some of the main theories and quantitative concepts and methods used in finance and provides a sound basis for students progressing to the study of finance at higher levels within the University. At the same time, it is a valuable, self contained and up-to-date overview of international financial markets and institutions for non-specialists.
Course Coordinator: Dr Steven HailOffice hours: To be advised
Office location: Nexus 10, Level 3, Room 3.34
The full timetable of all activities for this course can be accessed from Course Planner.Two one hour lectures are scheduled at the following times:
Monday 2.10pm - 3.00pm (Scott Theatre)
Thursday 2.10pm - 3.00pm (The Braggs, G76, Bragg Lecture Theatre)
Each student is also expected to attend a one hour tutorial each week. A full timetable of the tutorials can be found on the Course Planner at: http://access.adelaide.edu.au/courses/search.asp
The lecture times will be used to explain the concepts, theories and models relevant to international finance and economics, whilst the tutorial time will be used to apply the acquired knowledge to practice questions. The tutorial questions will consist of theoretical, quantitative and analytical questions which will be posted on MyUni prior to the tutorials.
Students are expected to study the course materials carefully and actively engage in class discussions. All work discussed in class and any submitted material will form the basis for the final examination.
Course Learning OutcomesOn successful completion of this course students will be able to:
1 To understand important financial economic principles 2 To apply financial economic principles to solving problems 3 To develop analytical skills 4 To develop both independent learning and group work skills 5 To develop verbal and non-verbal communication skills 6 To understand the broader social consequences of financial economic decisions making
University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised. 1 The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. 2 An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 3,4 Skills of a high order in interpersonal understanding, teamwork and communication. 4,5 A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 6 An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities. 6
A custom text prepared especially for this course, based on
Fundamentals of Financial Markets and Institutions in Australia ,
Valentine, Ford, O'Hara and Sundmacher, 2011, Pearson Australia
Either the (lower cost) custom text can be purchased, or the book on which it is based.
Recommended ResourcesA number of links will be posted on MyUni as additional reading material.
Hunt, B, & Terry, C.(2015), Financial Institutions and Markets, 7th Edition, Cengage Learning Australia
Viney C. (2011), Financial Market Essentials, McGraw Hill Australia
Bodie Z., Merton R., & Cleeton D. (2009), Financial Economics, 2nd edition, Pearson International Edition
Previous editions of Hunt and Terry, or of Viney, are also of use.
All of the material related to the course, e.g. tutorial questions, lecture slides, practice questions, a practice examination paper and the full details of each assessment task will be available on MyUni.
To encourage collaborative learning, the course will also make heavy use of discussion boards on the MyUni webpage.
There will be separate forums for each component of the course and students are strongly encouraged to use these forums for questions. The forums will be monitored regularly and managed by the lecturer-in-charge.
The purpose of the forums is to encourage student’s collaborative learning and provide all students with equal access to information related to the course.
Course Website: firstname.lastname@example.org
Learning & Teaching Activities
Learning & Teaching Modes
The course is based on the problem solving approach to learning.
Phase 1: Concrete situation
Identification of a real world case study.
Phase 2: Definition
Understanding the problem and defining the question of interest.
Phase 3: Abstract conceptualisation
Explain how the problem can be understood economically. Proposition of economic tools that can be applied to help answer the question.
Phase 4: Implementation
With the help of economic theory, choose an 'optimal' solution. Attention needs to be paid to the fact that tangible solutions are often required as a result of tangible problems.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. Students in this course are expected to attend all lectures throughout the semester plus one tutorial class each week.
It is expected that students will devote 12 hours learning activities per week for this course if they expect to receive a pass mark.
Learning Activities Summary
Classes will be held weekly commencing as per study schedule below. Note that tutorials commence in Week 2.
Membership of tutorial classes is to be finalised by the end of the third week of semester. Students wishing to swap between tutorial classes after this time are required to present their case to the lecturer-in-charge, but should be aware that such a request may not be approved.
Tutorials are an important component of your learning in this course. The communication skills developed in tutorials by regularly and actively participating in discussions are considered to be most important by the School and are highly regarded by employers and professional bodies.
Consultation and Communication
Check your student email and MyUni as course-related announcements are communicated via email.
Lecturer’s and tutors’ consultation times and locations are available also on MyUni.
NOTE the following time scheduled is not completely fixed and some deviations from the schedule might occur. This is ONLY the proposed time schedule. You will be informed of any deviations from this proposed schedule by attending the lectures and checking any relevant information and announcements on MyUni.
Week Lecture dates Topic Readings 1 2 & 5 March
Introduction to Finance & the Financial System Chapter 1 (Valentine et al.) 2 12 March
Debt Securities and Markets Chapter 2 (Valentine at al.) 3 16 & 19 March
Introducing Financial Calculations Chapter 3 (Valentine et al.) 4 23 & 26 March
Financial Calculations and Financial Markets Chapter 3 (Valentine et al.) 5 30 March & 2 April
Household Saving & Investment Decisions
Uploaded resource on Myuni (Chapter 5 from Bodie et al.)
6 9 April
Deposit Taking Institutions Chapter 4 (Valentine et al.) BREAK 13 - 24 April 7 27 April & 30 April Tutorial 6 Interest Rates and Economic Policy Chapter 7 (Valentine et al.) 8 4 & 7 May
Listed Securities - Shares and Share Valuation (Part One) Chapter 9 (Valentine et al.) 9 11 & 14 May
Listed Securities - Risk and Return(Part Two) Chapter 9 (Valentine et al.) 10 18 & 21 May
The Foreign Exchange Market in Practice (Part One) Chapter 8 (Valentine et al.) 11 25 & 28 May
The Foreign Exchange Market in Theory (Part Two) Chapter 8 (Valentine et al.) 12 1 & 4 June
Derivatives and Risk Management: Options
Chapter 11 (Valentineet al.)
Specific Course RequirementsHURDLE REQUIREMENT
To gain a pass mark in this course, at least 50 per cent must be obtained overall. There are no separate requirements for individual assessments.
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Weekly tutorial assignments (from week 3-12) 25% Tutorial participation 5% Two on-line tests (details will be provided during the first week of the semester) 20% Final Examination 50%
Assessment Related Requirements
- To gain a pass mark in this course, at least 50 per cent must be obtained overall. There are no separate requirements for individual assessments.
- Legible hand-writing and the quality of English expression are considered to be an integral part of the assessment process.
- Marks will not be awarded for answers that cannot be read.
- All elements of in-course assessments are redeemable in the final examination. This will be explained during the first week of the semester.
Tutorial Assignments 25% (redeemable in final exam):
Students will be asked to submit written answers to the indicated questions on the final page of the weekly tutorial exercises, which will be available to download from MyUni on a weekly basis. These should be submitted at the beginning of the tutorial class every week starting in week 3. There will be a total of 10 tutorial assignments of which the best 8 will be counted for assessment. The questions for the tutorial assignments will relate to material that was covered in the lectures in the previous weeks.
Due Date: At the beginning of your enrolled tutorial in week 3, 4, 5, 6, 7, 8, 9, 10, 11 and 12.
Tutorial Participation 5% (redeemable in final exam):
Your attendance in the tutorials is compulsory and will be recorded by your tutor. Based on your attendance and active participation in the tutorial you will be awarded up to 5% of your total grade. Active tutorial participation consists of preparing the answers to the tutorial questions, contributing to class discussion and answering questions posed by your tutor.
Two On-Line Tests 2 x 10% = 20% (redeemable in final exam):
The tests will be administered online during weeks 7 and 12. The tests will consist of multiple choice questions. The material for the first test will be based on the first 5 topics of the course. The material for the second test will be based on the first 10 topics
Date: Online in weeks 7 and 12
Final Examination 50% (or more):
There will be a two hour final examination for this course which will be held during the examination period. You will be advised of the date, time and venue in due course.
Further information will be published on MyUni.
Due Date: available on Access Adelaide after the course commences.
Tutorial assignments must be submitted at the beginning of the tutorials in weeks 3, 4, 5, 6, 7, 8, 9, 10, 11 and 12. Late submission and electronic copies of the tutorial assignments will not be accepted, except when authorised by the course co-ordinator.
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending
Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.Additional Assessment
If a student receives 45-49 for their final mark for the course they will automatically be granted an additional assessment. This will most likely be in the form of a new exam (Additional Assessment) and will have the same weight as the original exam unless an alternative requirement (for example a hurdle requirement) is stated in this semester’s Course Outline. If, after replacing the original exam mark with the new exam mark, it is calculated that the student has passed the course, they will receive 50 Pass as their final result for the course (no higher) but if the calculation totals less than 50, their grade will be Fail and the higher of the original mark or the mark following the Additional Assessment will be recorded as the final result.
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
- Academic Support with Maths
- Academic Support with writing and speaking skills
- Student Life Counselling Support - Personal counselling for issues affecting study
- International Student Support
- AUU Student Care - Advocacy, confidential counselling, welfare support and advice
- Students with a Disability - Alternative academic arrangements
- Reasonable Adjustments to Teaching & Assessment for Students with a Disability Policy
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangement Policy
- Academic Honesty Policy
- Academic Progress by Coursework Students Policy
- Assessment for Coursework Programs
- Copyright Compliance Policy
- Coursework Academic Programs Policy
- Elder Conservatorium of Music Noise Management Plan
- Intellectual Property Policy
- IT Acceptable Use and Security Policy
- Modified Arrangements for Coursework Assessment
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.
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