• Class Number 8491
  • Term Code 2960
  • Class Info
  • Unit Value 6 units
  • Mode of Delivery In Person
    • Dr Lin Hu
    • Dr Lin Hu
  • Class Dates
  • Class Start Date 22/07/2019
  • Class End Date 25/10/2019
  • Census Date 31/08/2019
  • Last Date to Enrol 29/07/2019
SELT Survey Results

This course provides an overview of current Asian capital markets. The growth of Asian economies has been spectacular in the past 60 years; the advancement of Japan from the 1950s until the beginning of 1990s, the emerging Asian Tigers (Hong Kong, Korea, Singapore, Taiwan) in the 1980s, and the rapid transformation and growth of China and India since the 1990s. Asian capital markets are quite diverse as they consist of emerging markets at different stages of development as well as mature markets. Therefore, it is not easy to view Asian capital markets through a single lens. However, this course not only introduces students to capital markets in various Asian countries but also attempts at introducing a unified conceptual framework to understand markets in these countries. The framework focuses on institutional environments (such as legal systems) in different countries and their impacts on corporate behaviour. We also present empirical evidence that such a framework might not necessarily explain the recent developments in China and India. Two of the important features in Asian capital markets, which contrast those of capital markets in UK-US, are the roles played by the State and closely tied families, which we will discuss in detail. The globalization of the world economy in the past two decades has affected the developments of Asian capital markets. Although our course may discuss the development of capital markets of individual countries, we will discuss Asian economies in the global context and will explore the increasing weight of Asia in the world economy.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

  • Upon successful completion of the requirements for this course, students should have the knowledge and skills to:

    1. Demonstrate an in-depth knowledge of Asian economies and currency systems
    2. Explain in detail the conceptual framework for understanding the financial markets and institutions
    3. Be able to communicate empirical findings for various Asian capital markets
    4. Demonstrate hands-on experience with financial and corporate governance data analysis and professional style report writing
    5. Communicate in detail the vision for the future of Asian capital markets and economies
    1. Research-Led Teaching

      Students will be introduced to research using readings from academic journals. Based on recent research in law and economics, the course introduces a conceptual foundation to analyze financial markets. Also, the students are expected to read and extract the essence of research papers that use empirical methods.   

      Required Resources

      Lecture slides, which are provided on Wattle.

      Regularly reading business newspapers are strongly recommended, such as Business Times (Australia), Financial Times (London), Wall Street Journal (USA). Bloomberg and Yahoo-Finance are good free sources on the internet.

      Staff Feedback

      Consultation time will be confirmed at the start of the semester.

      Students will be given feedback in the following forms in this course:

      • Feedback will be given verbally or by written comments (for project), both to individuals as well as to project groups

      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


      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/

      Class Schedule

      Week/Session Summary of Activities Assessment
      1 Introduction Role of Financial Market
      2 Global comparison of markets Law, Finance, and Economic Growth
      3 China versus India Project guidelines Project out
      4 Euro crisis RMB convertibility Quiz
      5 Currency and capital control Asian Financial Crisis
      6 Review for mid-term Q&A Mid-term exam
      7 The “Failure” of neoliberalism
      8 Midterm Answers explained
      9 State capitalism Sovereign Wealth Funds Project due
      10 Family capitalism Corporate groups
      11 Informal sector FinTech Project feedbacks
      12 Review for Final Exam Q&A
      13 Examination period Final exam

      Assessment Summary

      Assessment task Value Due Date Return of assessment Learning Outcomes
      Quiz 0 % 16/08/2019 16/08/2019 2,3,4,5
      Mid-term Examination 30 % 04/10/2019 25/10/2019 1,2,3
      Team project on financial markets in Asia 30 % 26/08/2019 02/10/2019 2,3,4,5
      Final Examination 40 % 31/10/2019 28/11/2019 2,3,4,5

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


      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:

      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. 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.

      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.


      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.

      Assessment Task 1

      Value: 0 %
      Due Date: 16/08/2019
      Return of Assessment: 16/08/2019
      Learning Outcomes: 2,3,4,5


      A short quiz will be made available on wattle together at the beginning of Week 4 until 3pm on Friday 16 August. Solutions will be provided upon completion of the quiz. It is worth 0% of the overall course grade.

      Assessment Task 2

      Value: 30 %
      Due Date: 04/10/2019
      Return of Assessment: 25/10/2019
      Learning Outcomes: 1,2,3

      Mid-term Examination

      The mid-term examination (1.5 hours duration plus 15 min reading period) will be based on all the work covered from week 1 to week 5. The mid-term examination is worth 30% of the overall course grade. Students will be provided with further details regarding the exam as it approaches. This will be a closed book exam: only writing implements and a non-programmable calculator are allowed. No formula sheet.

      Assessment Task 3

      Value: 30 %
      Due Date: 26/08/2019
      Return of Assessment: 02/10/2019
      Learning Outcomes: 2,3,4,5

      Team project on financial markets in Asia

      The group assignment will be done and graded by groups. Each group has either 4 or 5 students. A smaller group size is possible with convener's permission. Students need to form groups by themselves and inform the course convener through email by Monday 5 August. Students who have no group after Monday 5 August will have to finish the group assignment individually. The topic of the assignment will be provided on Wattle and discussed in class at least three weeks before it is due. It is strongly encouraged that graduate students and undergraduate students form their team separately. In case of mix, the grading standards of graduate students will be applied.

      The report will be no more than 5 pages, including 1 page of executive summary, 1-3 page of factual supportive information or analysis, and 1 page of wrap up /recommendation. The report will be marked based on logic, clarity, and correct application of the financial knowledge.


      Assessment Task 4

      Value: 40 %
      Due Date: 31/10/2019
      Return of Assessment: 28/11/2019
      Learning Outcomes: 2,3,4,5

      Final Examination

      The final examination (2 hours duration plus 15 min reading period) will be based on all the work covered throughout the duration of the semester. The final examination is worth 40% of the overall course grade. Students will be provided with further details regarding the exam as it approaches. This will be a closed book exam: only writing implements and a non-programmable calculator are allowed. No formula sheet.

      Academic Integrity

      Academic integrity is a core part of the ANU culture as a community of scholars. At its heart, academic 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.

      Online Submission

      Unless an exemption has been approved by the Associate Dean (Education) all submission must be through Turnitin. Assignments may be submitted by just one member of the group, but must include a completed cover sheet clearly identifying all members of the group. You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Hard copy submission is not required. Students will receive comments through Turnitin. All files submitted to be named as follows:

      FINM3045 Team (number) - (description)

      Example: FINM3045 Team 30 MarketABC.docx

      Hardcopy Submission

      If given exemption to submit in hard copy by the Associate Dean (Education), you will be required to submit your assignment report (and copies of all references included in the assignment report) in hard copy by the due date. All submitted hard copy assignments must include a completed a completed cover sheet clearly identifying all members of your group. Please keep a copy of the assignment for your records.

      Late Submission

      No submission of assessment tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark of 0 will be awarded.

      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

      The feedback will be returned by email.


      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

      Resubmission of assignments is not permitted.

      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).

      Dr Lin Hu

      Research Interests

      Political Economy, Corporate Finance

      Dr Lin Hu

      Friday 13:00 15:00
      Friday 13:00 15:00
      Dr Lin Hu
      6125 0703

      Research Interests

      Dr Lin Hu

      Friday 13:00 15:00
      Friday 13:00 15:00

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