• Class Number 4197
  • Term Code 3230
  • Class Info
  • Unit Value 6 units
  • Mode of Delivery In Person
    • Yichao Zhu
    • Yichao Zhu
  • Class Dates
  • Class Start Date 21/02/2022
  • Class End Date 27/05/2022
  • Census Date 31/03/2022
  • Last Date to Enrol 28/02/2022
SELT Survey Results

This course is designed to prepare students for designing 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:

  1. Demonstrate an understanding of core investments theory;
  2. Demonstrate a knowledge of the issues associated with the application of investments theory in a practical setting;
  3. Work effectively in group environments; and,
  4. Effectively communicate the results of empirical research.

Research-Led Teaching

This course will cover methods which are applicable in both a research and practical context. Examples will be provided during the course of the semester which will demonstrate

the practical application of research based models.

Examination Material or equipment

Please see the Wattle course site for information on examination material. For mid-term exam, this will be released by the end of week 5; and for the final exam, this will be released no later than week 10.

Required Resources

Prescribed Text

Bodie, Z., Kane, A. and Marcus, A., (2021), Investments 12 Ed., Mc-Graw Hill, New York.

(The textbook readings are optional for this course. In addition, this textbook is available to students as a 2 hour or 2 day loan from ANU library. The text is also available in e-copy via the ANU Library with e-book access)

Other Required Reading

CFA Institute Code of Ethics and Standards of Professional Conduct http://www.cfapubs.org/doi/pdf/10.2469/ccb.v2014.n6.1

Bodie, Z., Ariff, M., da Silva Rosa, R., Kane, A. and Marcus, A. (2007), Investments 1 Australian Ed., McGraw-Hill Australia, Sydney. https://library.anu.edu.au/record=b2441043

Brailsford, T., Heaney, R. and Bilson, C. (2015), Investments: Concepts and Applications 5th Ed., Cengage, South Melbourne. https://library.anu.edu.au/record=b6855601

Staff Feedback

Students will be given feedback before the end of week 6 in the following forms in this course:

  • in tutorials through interactions with tutors and discussions with other students;
  • through assessments where tutors will provide specific feedback;
  • through consulting teaching staff during their consultation time.

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 Topic: Introduction to Investments Readings: Bodie et al Chapters 1 to 4.
2 Topic: Risk and Return Readings: Bodie et al Chapter 5.
3 Topic: Capital Allocation and Optimal Risky Portfolios Readings: Bodie et al Chapters 6 and 7.
4 Topic: Capital Asset Pricing Model Readings: Bodie et al Chapter 9.
5 Topic: Index Models Readings: Bodie et al Chapter 8.
6 Topic: Multifactor Models and Empirical Evidence Readings: Bodie et al Chapters 10 and 13. Feedback to students
7 Topic: The Efficient Market Hypothesis and Behavioural Finance Readings: Bodie et al Chapters 11 and 12. Mid-term Examination
8 Topic: Portfolio Performance Evaluation Readings: Bodie et al Chapter 24.
9 Topic: Fixed Income Securities Readings: Bodie et al Chapter 14.
10 Topic: The Term Structure of Interest Rates Readings: Bodie et al Chapter 15. Assignment due
11 Topic: Managing Bond Portfolios Readings: Bodie et al Chapter 16.
12 Topic: Investment Policy and the Framework of the CFA Institute & Review Readings: Bodie et al Chapter 28, CFA Code of Ethics and Standards of Professional Conduct.

Tutorial Registration

Tutorials will start from Week 2 through to Week 12. Tutorials will be available on campus, live through scheduled Zoom sessions and as pre-recorded videos. Information

regarding enrollments for these options will be provided on Wattle during O-week, prior to the start of the semester.

Assessment Summary

Assessment task Value Due Date Return of assessment Learning Outcomes
Feedback to students 0 % 28/03/2022 03/04/2022 1,2,3,4
Mid-Term Examination (Wattle-based) 20 % 18/04/2022 06/05/2022 1, 2
Assignment 20 % 13/05/2022 27/05/2022 2, 3, 4
Final Examination (Wattle-based) 60 % 02/06/2022 30/06/2022 1, 2

* 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 Academic Integrity . 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.


Course content delivery will take the form of on-campus weekly lectures (with record available via Echo 360 on Wattle), pre-recorded weekly workshops (available via Echo 360 on Wattle) and weekly tutorials delivered in hybrid format (on campus, live through scheduled Zoom sessions and as pre-recorded videos).


Centrally administered examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. Please check ANU Timetabling for further


Assessment Task 1

Value: 0 %
Due Date: 28/03/2022
Return of Assessment: 03/04/2022
Learning Outcomes: 1,2,3,4

Feedback to students

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

In tutorials through interactions with tutors and discussions with other students;

Through assessments where tutors will provide specific feedback;

Through consulting teaching staff during their consultation time.

Assessment Task 2

Value: 20 %
Due Date: 18/04/2022
Return of Assessment: 06/05/2022
Learning Outcomes: 1, 2

Mid-Term Examination (Wattle-based)

  • The mid-term exam will an open-book Wattle-based exam.
  • The mid-term exam is expected be held during Week 7. This may be subject to change in the unforeseen event of timetabling restrictions. Should this be the case, students will be advised well in advance by the lecturer.
  • The mid-term exam will be two-hour long and will cover content from Week 1 through to 6 inclusive.
  • The mid-term exam is worth 20% and will be redeemable towards the final exam.
  • Specific details will be provided by the end of Week 5, with all information found on Wattle.

Assessment Task 3

Value: 20 %
Due Date: 13/05/2022
Return of Assessment: 27/05/2022
Learning Outcomes: 2, 3, 4


  • Due date: Friday 13 May 2021, by 5pm (Week 10), Canberra time.
  • The assignment is worth 20% and is NOT redeemable.
  • An assignment handout will be provided on Wattle at the commencement of semester, with details elaborated in class.
  • The assignment is to be submitted electronically via Wattle.
  • Team formation: The assignment is to be completed in a group containing 3 - 4 students. Students should commence forming groups as soon as possible, and once decided upon, email the Lecturer with the details of their group (student names and IDs of each member), with all group members included as recipients to the email. To assist students in finding a group, a discussion forum will be available via Wattle, where students may post their desire to find a group, and/or existing groups looking for additional members. The deadline for forming groups will be the end of Week 3.

Assessment Task 4

Value: 60 %
Due Date: 02/06/2022
Return of Assessment: 30/06/2022
Learning Outcomes: 1, 2

Final Examination (Wattle-based)

  • The final examination will be an open-book Wattle-based exam.
  • The final examination will be based on all the work covered throughout the duration of the semester. The final examination is worth 60% of the overall course grade, or 80% if the mid-term examination is redeemed.
  • The final examination will be four-hour long.
  • This is a centrally administered examination. Please check ANU Timetabling for further information. Further information about the examination will be provided in class and on Wattle no later than Week 10.

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

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) submission must be through Turnitin.

Hardcopy Submission

There is no hardcopy submission in the course.

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 assignments will be returned via TurnitIn by the dates indicated in the Assessment Summary. If there is any change to this, an announcement will be made on Wattle.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted 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 resubmission of assignments is allowed.

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).

Yichao Zhu

Research Interests

Asset pricing; Short selling; Fixed income; Financial institutions

Yichao Zhu

Wednesday 15:00 17:00
Wednesday 15:00 17:00
Yichao Zhu

Research Interests

Yichao Zhu

Wednesday 15:00 17:00
Wednesday 15:00 17:00

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