• Class Number 2450
  • Term Code 2930
  • Class Info
  • Unit Value 6 units
  • Mode of Delivery In Person
    • Dr Qiaoqiao Zhu
    • Dr Qiaoqiao Zhu
  • Class Dates
  • Class Start Date 25/02/2019
  • Class End Date 31/05/2019
  • Census Date 31/03/2019
  • Last Date to Enrol 04/03/2019
SELT Survey Results

The objective of this course is to familiarize students with the seminal and contemporary literature on selected topics in theoretical, empirical and applied finance as it relates to investment analysis. The material and structure of the course is designed to provide students with an advanced understanding of investment decision making. The course is directed at postgraduate and honour students and is designed for students wishing to pursue higher level studies or a career relating to investment analysis and decision making.  The course material builds on undergraduate studies in the area of investments.  The material is heavily orientated to research issues and their practical problems.

Learning Outcomes

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

  1. Obtain an in-depth understanding of investment theories and practice;
  2. Derive classical asset pricing models and perform basic empirical tests of the models;
  3. Utilize asset pricing models for investment analysis, such as performance measurement, return predictability and event analysis;
  4. Analyze and explain limitations of the models in relation to real world investment situations;
  5. Work in teams and develop interpersonal and cognitive skills to a higher level.

Research-Led Teaching

Text book material will be supplemented with the most recent information from relevant news and research. A large part of this course is learning by doing.

Wattle Courses resources, Library resources, online resources of programming and financial news. 

Recommended textbook: Asset Pricing: (Revised Edition), John H. Cochrane- this book is available in the ANU Library and has been requested to be put in the 2 hour loan.

Staff Feedback

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

  • verbal and written feedbacks for assignments

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.

Class Schedule

Week/Session Summary of Activities Assessment
1 Intro: Risk, Return, and Portfolios
2 Expected Utility and Portfolio Choices
3 Contingent Claims and SDF
4 Mean Variance Optimization Quiz
6 APT and Factor Models Assignment 1
7 Return Predictability and EMH
8 Cross Sectional Predictability
9 Changing risk & Conditional CAPM Assignment 2
10 Sentiment and Short constraints
11 Behavioral Finance
12 Review

Tutorial Registration

There is a tutorial class for the whole class, registration is not required.

Assessment Summary

Assessment task Value Due Date Return of assessment Learning Outcomes
Quiz 10 % 19/03/2019 02/04/2019 1,2,3,4,5
Assignment 1 20 % 05/04/2019 30/04/2019 1,2,3,4,5
Assignment 2 20 % 10/05/2019 17/05/2019 1,2,3,4,5
Examination 50 % 06/06/2019 04/07/2019 1,2,3,4,5

* 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. 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.


There is a final exam to be scheduled during the exam period (exact date TBA).  The exam covers all topics and will be 3 hours in length, with an additional 15 minutes of reading time.

Assessment Task 1

Value: 10 %
Due Date: 19/03/2019
Return of Assessment: 02/04/2019
Learning Outcomes: 1,2,3,4,5


Quiz is to be undertake online on Wattle. It will be available at 10am on 19 March and will close at 5pm on the same day. Students have 30 minutes to complete the quiz after first opening it.

Assessment Task 2

Value: 20 %
Due Date: 05/04/2019
Return of Assessment: 30/04/2019
Learning Outcomes: 1,2,3,4,5

Assignment 1

This is the first of two take home assignments. Students have at least one week to complete the assignment. Some assignments need statistical programming. A complete report as well as appendices such as programming codes needs to be submitted. These assignments are designed to improve students’ problem solving skills and develop their ability to apply knowledge in real-world context. 

Assessment Task 3

Value: 20 %
Due Date: 10/05/2019
Return of Assessment: 17/05/2019
Learning Outcomes: 1,2,3,4,5

Assignment 2

This is the second of two take home assignments. Students have at least one week to complete the assignment. Some assignments need statistical programming. A complete report as well as appendices such as programming codes needs to be submitted. These assignments are designed to improve students’ problem solving skills and develop their ability to apply knowledge in real-world context.

Assessment Task 4

Value: 50 %
Due Date: 06/06/2019
Return of Assessment: 04/07/2019
Learning Outcomes: 1,2,3,4,5


There is a final exam to be scheduled during the exam period (exact date TBA).  The exam covers all topics and will be 3 hours in length, with an additional 15 minutes of reading time. Calculator, dictionary, and a A-4 double-sized page of notes created by the student is allowed for the exam.

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

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. Unless an exemption has been approved by the Associate Dean (Education) as submission must be through Turnitin.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy 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.

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.


Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 working days after the due date, or on or after the date specified in the course outline for the return of the assessment item. Late submission is not accepted for take-home examinations.

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.

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.

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 Qiaoqiao Zhu

Research Interests

Dr Qiaoqiao Zhu

Thursday 11:00 12:00
Thursday 11:00 12:00
Dr Qiaoqiao Zhu

Research Interests

Dr Qiaoqiao Zhu

Thursday 11:00 12:00
Thursday 11:00 12:00

Responsible Officer: Registrar, Student Administration / Page Contact: Website Administrator / Frequently Asked Questions