This course allows students to acquire and apply the skills needed to design investment portfolios. It covers duties to clients, types of investment products, explores links between investment risk and return, introduces tools for use in portfolio construction, brings in analysis of fixed income products and introduces techniques to evaluate past investment performance.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- Have attained an in depth understanding of core investments theory;
- Demonstrate a thorough knowledge of the issues associated with the application of investments theory in a practical setting;
- Be able to perform in group environments; and,
- Be effective in communicating the results of empirical research.
Research-Led Teaching
Students will be provided with some of the basic tools necessary to undertake research. This will include involving students in critical analysis of industry-based problems such as asset allocation decisions, pricing of financial assets, managing investment portfolios and performance measurement. They will also be introduced to relevant research previously undertaken by others in the area.
Additional Course Costs
The only additional course costs are a non-programmable scientific calculator (not a financial calculator) and textbook.
Examination Material or equipment
The only permitted materials in the examination are a calculator (scientific, non-programmable and not a financial calculator), dictionary (which will be checked at the examination, pen, and ruler.
Required Resources
Prescribed Text: Bodie, Z. Kane, A. and Marcus, A., 2018, Investments, 11th Edition, Mc-Graw Hill/Irwin, New York., or
Bodie, Z., Kane, A. and Marcus, A., 2014, Investments, 10th Edition, Mc-Graw Hill/Irwin, New York.
Students are expected to have access to a copy of the prescribed book for the duration of the semester. The book can be purchased from the on-campus bookshop, with a small number of copies also available for 2-hour loan in the reserve loan section of the Chifley Library.
Staff Feedback
Students will be given feedback in the following forms in this course:
- verbal comments (during lectures and tutorials)
- feedback to the whole class (during lectures)
- feedback to individuals (during consultation/office hours)
Student Feedback
ANU is committed to the demonstration of educational excellence and regularly seeks feedback from 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.
Other Information
Scaling
Your final mark for the course will be based on the raw marks allocated for each of your assessment items. However, your final mark may not be the same number as produced by that formula, as marks may be scaled. Any scaling applied will preserve the rank order of raw marks (i.e. if your raw mark exceeds that of another student, then your scaled mark will exceed the scaled mark of that student), and may be either up or down.
Support for students
The University offers a number of support services for students. Information on these is available online from http://students.anu.edu.au/studentlife/
Communication
It is preferable to contact the lecturer via email (alexander.vadilyev@anu.edu.au)
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.
Wattle 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.
Lecture
Day: Thursday
Time: 4pm – 6pm
Location: TBA
Workshop
Day: Friday
Time: 5pm – 6pm
Lecture: TBA
Class Schedule
| Week/Session | Summary of Activities | Assessment |
|---|---|---|
| 1 | Topic: Introduction and the Investment Process I Reading: Chapters 1 to 4 No Tutorials | |
| 2 | Topic: The Investment Process II Reading: Chapter 28 Tutorial 1 Questions | |
| 3 | Topic: Risk, Return, and Historical Data Reading: Chapter 5 Tutorial 2 Questions | |
| 4 | Topic: Preferences, Risky Assets, and Building Portfolios Reading: Chapters 6 and 7 Tutorial 3 Questions | In-class test 1 |
| 5 | Topic: Index Models Reading: Chapter 8 Tutorial 4 Questions | |
| 6 | Topic: The Capital Asset Pricing Model Reading: Chapters 9 and 13 Tutorial 5 Questions | In-class test 2 |
| 7 | Topic: Arbitrage Pricing and Multifactor Models Reading: Chapters 10 and 13 Tutorial 6 Questions | |
| 8 | Topic: Efficient Markets, Technical Analysis, and Behavioural Finance Reading: Chapters 11 and 12 Tutorial 7 Questions | In-class test 3 |
| 9 | Topic: Bond Pricing, Yields and the Term Structure of Interest Rates Reading: Chapters 14 and 15 Tutorial 8 Questions | |
| 10 | Topic: Managing Bond Portfolios Reading: Chapter 16 Tutorial 9 Questions | |
| 11 | Topic: Portfolio Evaluation Reading: Chapter 24 Tutorial 10 Questions | In-class test 4 |
| 12 | Topic: Alternative Investments/Hedge Funds/Review Reading: Chapter 26 / See Wattle Tutorial 11 Questions |
Tutorial Registration
Tutorial signup for this course will be done via the Wattle website. Detailed information about signup times will be provided on Wattle or during your first lecture. When tutorials are available for enrolment, follow these steps:
1. Log on to Wattle, and go to the course site
2. Click on the link “Tutorial enrolment”
3. On the right of the screen, click on the tab “Become Member of…..” for the tutorial class you wish to enter
4. Confirm your choice
If you need to change your enrolment, you will be able to do so by clicking on the tab “Leave group….” and then re-enrol in another group. You will not be able to enrol in groups that have reached their maximum number. Please note that enrolment in ISIS must be finalised for you to have access to Wattle.
Assessment Summary
| Assessment task | Value | Due Date | Return of assessment | Learning Outcomes |
|---|---|---|---|---|
| In-class test (1) | 10 % | 21/03/2019 | 04/04/2019 | 1,2 |
| In-class test (2) | 10 % | 04/04/2019 | 18/04/2019 | 1,2 |
| In-class test (3) | 10 % | 02/05/2019 | 16/05/2019 | 1,2 |
| In-class test (4) | 10 % | 23/05/2019 | 31/05/2019 | 1,2 |
| Final Examination | 60 % | 06/06/2019 | 04/07/2019 | 1,2 |
* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details
Policies
ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and 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
Assessment Requirements
The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website. Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.
Moderation of Assessment
Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.
Examination(s)
This course involves a final examination, to be scheduled by central timetabling. The time and location of the exam will be released when confirmed via the ANU timetabling website http://timetable.anu.edu.au/exams/. Details regarding permitted materials and what to expect will be provided during the lectures in Weeks 10 and 11.
The final examination will be a closed-book test, with no formula sheet provided. Non-programmable calculators and dictionaries are allowed (but will be checked before the examination starts).
Assessment Task 1
Learning Outcomes: 1,2
In-class test (1)
- The in-class test will take place on Thursday (4:00 pm), at the beginning of the class. Please be on time in the lecture theater.
- The in-class test will be closed-book tests, with no formula sheet provided.
- The in-class test will be 25-30 minutes in length. The in-class tests are compulsory.
- The in-class test will comprise a mixture of theory and practical questions relating to materials covered in the previous weeks.
- The in-class test will count towards 10% of students’ final course grade.
- The in-class tests provide a good source of feedback on your progress, and worked solutions will be provided subsequent to the test to assist with revision.
- The paper scripts will be returned to students no latter than in two weeks. Grades will be uploaded on Wattle.
- Further details of the test structure will be provided as the test date approaches.
Assessment Task 2
Learning Outcomes: 1,2
In-class test (2)
The in-class test will take place on Thursday (4:00 pm), at the beginning of the class. Please be on time in the lecture theater.
The in-class test will be closed-book tests, with no formula sheet provided.
The in-class test will be 25-30 minutes in length. The in-class tests are compulsory.
The in-class test will comprise a mixture of theory and practical questions relating to materials covered in the previous weeks.
The in-class test will count towards 10% of students’ final course grade.
The in-class tests provide a good source of feedback on your progress, and worked solutions will be provided subsequent to the test to assist with revision.
The paper scripts will be returned to students no latter than in two weeks. Grades will be uploaded on Wattle.
Further details of the test structure will be provided as the test date approaches.
Assessment Task 3
Learning Outcomes: 1,2
In-class test (3)
The in-class test will take place on Thursday (4:00 pm), at the beginning of the class. Please be on time in the lecture theater.
The in-class test will be closed-book tests, with no formula sheet provided.
The in-class test will be 25-30 minutes in length. The in-class tests are compulsory.
The in-class test will comprise a mixture of theory and practical questions relating to materials covered in the previous weeks.
The in-class test will count towards 10% of students’ final course grade.
The in-class tests provide a good source of feedback on your progress, and worked solutions will be provided subsequent to the test to assist with revision.
The paper scripts will be returned to students no latter than in two weeks. Grades will be uploaded on Wattle.
Further details of the test structure will be provided as the test date approaches.
Assessment Task 4
Learning Outcomes: 1,2
In-class test (4)
The in-class test will take place on Thursday (4:00 pm), at the beginning of the class. Please be on time in the lecture theater.
The in-class test will be closed-book tests, with no formula sheet provided.
The in-class test will be 25-30 minutes in length. The in-class tests are compulsory.
The in-class test will comprise a mixture of theory and practical questions relating to materials covered in the previous weeks.
The in-class test will count towards 10% of students’ final course grade.
The in-class tests provide a good source of feedback on your progress, and worked solutions will be provided subsequent to the test to assist with revision.
The paper scripts will be returned to students no latter than in two weeks. Grades will be uploaded on Wattle.
Further details of the test structure will be provided as the test date approaches.
Assessment Task 5
Learning Outcomes: 1,2
Final Examination
The final exam will be a closed-book test, with no formula sheet provided. Non-programmable calculators and dictionaries are allowed.
The final exam will be 3 hours in length, with an additional 15 minutes of reading time.
The final exam is compulsory.
The final exam will comprise a mixture of theory and practical questions relating to materials covered throughout the duration of the semester and will count towards 60% of students’ final course grade;
Further details of the exam structure will be provided as the exam date approaches.
Academic Integrity
Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community 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 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 University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.
Online Submission
No individual/group assignment in this course in S1 2019.
Hardcopy Submission
No individual/group assignment in this course in S1 2019.
Late Submission
No individual/group assignment in this course in S1 2019.
Referencing Requirements
Accepted academic practice for referencing sources that you use in presentations can be found via the links 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.
Returning Assignments
No individual/group assignment in this course in S1 2019.
Extensions and Penalties
Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) 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.
Resubmission of Assignments
No individual/group assignment in this course in S1 2019.
Privacy Notice
The ANU has made a number of third party, online, databases available for students to use. Use of each 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.
Distribution of grades policy
Academic Quality Assurance Committee monitors the performance of students, including attrition, further 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.
Support for students
The University offers students support through several different services. You may contact the services listed 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
Convener
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Research InterestsMacro Finance, International Finance |
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Dr Alexander Vadilyev
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Instructor
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Research Interests |
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Dr Alexander Vadilyev
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