• Class Number 6965
  • Term Code 3360
  • Class Info
  • Unit Value 6 units
  • Mode of Delivery In Person
    • Dr Steve Sault
    • Dr Steve Sault
  • Class Dates
  • Class Start Date 24/07/2023
  • Class End Date 27/10/2023
  • Census Date 31/08/2023
  • Last Date to Enrol 31/07/2023
SELT Survey Results

This course is designed to familiarise students with the components of the financial system as well as to introduce them to the three basic ideas underpinning finance: the time value of money, diversification, and arbitrage. The aim of the course is to provide students with introductory exposure to financial transactions, institutions and markets including money markets, stock markets, foreign exchange, derivative markets and contracts. It provides students with a solid foundation for later studies in finance.

Learning Outcomes

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

  1. Explain in detail financial transactions, institutions and markets, including money markets, stock markets, foreign exchange, derivatives markets and contracts;
  2. Discuss in detail the concept of time value of money and calculate the value of cash flows relating to a number of financial instruments;
  3. Explain in detail the concept of diversification, including the risk and return relationship and calculate optimal weights for a portfolio comprising of two financial assets; and,
  4. Discuss in detail concepts of arbitrage, and utilise derivatives for risk management purposes.

Research-Led Teaching

Students undertaking this course will be taught fundamental skills in Finance that will be applied to real life applications. Students will also be shown how these techniques are applied to research today.

Additional Course Costs

The only additional course costs are a non-programmable scientific calculator (not a financial calculator).

Examination Material or equipment

The quizzes will be conducted over Wattle and will be open book. Students are required to ensure that the technology needed for the online quiz is reliable.

The final exam will be conducted in-person on campus. It will be a closed-book exam. Centrally scheduled examinations through Examinations, and will be timetabled prior to the examination period. Please check ANU Timetabling for further information.

Required Resources

No required textbook.

Titman, S., Martin, T., Keown, A., and J. Martin, Financial Management: Principles and Applications, 8th Edition, Pearson Education, 2019.

Note that the textbook readings from this recommended resource are optional. In addition, this textbook is available to students as a 2 hour loan from the ANU library, and an e-book can be accessed from: https://library.anu.edu.au/record=b5640022.

Staff Feedback

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

  • Interactions with lecturer and tutor(s) in consultations and live tutorials/workshops/lectures.
  • Through assessments where the lecturer and tutors will provide specific feedback.

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). Feedback can also be provided to Course Conveners and teachers via the Student Experience of Learning & Teaching (SELT) feedback program. SELT surveys are confidential and also provide the Colleges and ANU Executive with opportunities to recognise excellent teaching, and opportunities for improvement.

Other Information


You 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 formulate, 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 or be the same as the scaled mark of that student), and may result in a score that is either higher or lower than the raw mark calculated.

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/


If necessary, the lecturer and tutor(s) for this course will contact students on their official ANU student email address. Information about your enrollment and fees from the Registrar and Student Services' office will also be sent to this email address. Students are expected to check the Wattle site for announcements about this course, e.g. changes to timetables or notifications of cancellations.

Class Schedule

Week/Session Summary of Activities Assessment
1 Topic: Course Admin and an Intro to Financial MathematicsActivity: Lecture/WorkshopReading: Lecture Notes 1
2 Topic: Time Value of Money – Dividends and Valuing SharesActivity: Lecture/Workshop/Tutorial (Tutorial 1 Questions)Reading: Lecture Notes 2
3 Topic: Time Value of Money – Valuing Debt InstrumentsActivity: Lecture/Workshop/Tutorial (Tutorial 2 Questions)Reading: Lecture Notes 3 Online Quiz 1
4 Topic: Time Value of Money – Making Investment DecisionsActivity: Lecture/Workshop/Tutorial (Tutorial 3 Questions)Reading: Lecture Notes 4
5 Topic: Diversification – Defining Risk and Understanding its Relationship with ReturnActivity: Lecture/Tutorial (Tutorial 4 Questions)Reading: Lecture Notes 5 Online Quiz 2
6 Topic: Diversification – Portfolio TheoryActivity: Lecture/Tutorial (Tutorial 5 Questions)Reading: Lecture Notes 6
7 Topic: Diversification – The Capital Asset Pricing Model (CAPM), the Required Rate of Return for Risk and the Cost of CapitalActivity: Lecture/Workshop/Tutorial (Tutorial 6 Questions)Reading: Lecture Notes 7
8 Topic: Arbitrage – Futures Contracts Part (A)Activity: Lecture/Workshop/Tutorial (Tutorial 7 Questions)Reading: Lecture Notes 8
9 Topic: Arbitrage – Futures Contracts Part (B) and Options Contracts Part (A)Activity: Lecture/Workshop/Tutorial (Tutorial 8 Questions)Reading: Lecture Notes 9 Online Quiz 3
10 Topic: Arbitrage – Options Contracts Part (B)Activity: Lecture/Workshop/Tutorial (Tutorial 9 Questions)Reading: Lecture Notes 10
11 Topic: Arbitrage – Forwards, Futures and Options Contracts as Tools for Risk ManagementActivity: Lecture/Workshop/Tutorial (Tutorial 10 Questions)Reading: Lecture Notes 11
12 Topic: Lecture 12 and Final ReviewActivity: Lecture/Tutorial (Tutorial 11 Questions)Reading: Lecture Notes 12

Tutorial Registration

Tutorials will be available on campus only. ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage (https://www.anu.edu.au/students/program-administration/timetabling).

Assessment Summary

Assessment task Value Due Date Return of assessment Learning Outcomes
Online Quizzes - 60 mins duration 40 % 07/08/2023 16/10/2023 1,2,3,4
Final Exam - 180 mins duration 60 % 02/11/2023 30/11/2023 1,2,3,4

* 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 Integrity 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 Skills 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.


Course content delivery will take the form of in-person weekly lectures and workshops. The weekly tutorials will be delivered on-campus only. Student consultations will be conducted over Zoom.


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

Assessment Task 1

Value: 40 %
Due Date: 07/08/2023
Return of Assessment: 16/10/2023
Learning Outcomes: 1,2,3,4

Online Quizzes - 60 mins duration

Students will be required to sit 3 online quizzes throughout the semester.

· These quizzes will be run according to the schedule in the "Class Structure and Content" section of this summary (unless otherwise stated by the lecturer).

· Students will be given one hour in which to complete the quiz, with the quiz to be held during the workshop time in the designated week. Students will not attend the workshop in those weeks, but rather sit the online quiz.

· Students’ best 2 marks will count towards 40% of their overall course grade.

· Quizzes will be marked online within 2 weeks of the quiz being held.

Assessment Task 2

Value: 60 %
Due Date: 02/11/2023
Return of Assessment: 30/11/2023
Learning Outcomes: 1,2,3,4

Final Exam - 180 mins duration

Due Date: to be centrally timetabled

Value or weighting: 60%

• The final exam will cover content contained in Week 1 through 12, inclusive.

• The final exam will be held in-person and on-campus during the Semester 2 final exam period. It is to be completed individually.

• This is a closed-book exam.

• A mixture of theory and practical (numerical) questions will be asked. Students will need to review and revise all material pertaining to the course.

• The exam will consist of calculation and theory-based multiple-choice as well as short answer questions.

• Students will be provided with further details regarding the exam by the end of Week 10.

• The exam will have a length of 180 minutes,.

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

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. The University’s students are an integral part of that community. The academic integrity principle commits all students to engage in academic work in ways that are consistent with, and actively support, academic integrity, and to uphold this commitment by behaving honestly, responsibly and ethically, and with respect and fairness, in scholarly practice.

The University expects all staff and students to be familiar with the academic integrity principle, the Academic Integrity Rule 2021, the Policy: Student Academic Integrity and Procedure: Student Academic Integrity, and to uphold high standards of academic integrity to ensure the quality and value of our qualifications.

The Academic Integrity Rule 2021 is a legal document that the University uses to promote academic integrity, and manage breaches of the academic integrity principle. The Policy and Procedure support the Rule by outlining overarching principles, responsibilities and processes. The Academic Integrity Rule 2021 commences on 1 December 2021 and applies to courses commencing on or after that date, as well as to research conduct occurring on or after that date. Prior to this, the Academic Misconduct Rule 2015 applies.


The University commits to assisting all students to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. All coursework students must complete the online Academic Integrity Module (Epigeum), and Higher Degree Research (HDR) students are required to complete research integrity training. The Academic Integrity website provides information about services available to assist students with their assignments, examinations and other learning activities, as well as understanding and upholding academic integrity.

Online Submission

There are no assignments in the course.

Hardcopy Submission

There are no hardcopy submissions in the course.

Late Submission

No late submission of assessment tasks will be permitted. If an assessment task is not submitted by the due date and time, a mark of 0 will be awarded.

Referencing Requirements

The Academic Skills website has information to assist you with your writing and assessments. The website includes information about Academic Integrity including referencing requirements for different disciplines. There is also information on Plagiarism and different ways to use source material.

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.

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 Steve Sault
6125 4869

Research Interests

Steve Sault's current research interests focus on equity market anomalies and utilising computational linguistics to assess the content and sentiment of online information.

Dr Steve Sault

Monday 12:30 14:30
Monday 12:30 14:30
Dr Steve Sault
6125 4869

Research Interests

Dr Steve Sault

Monday 12:30 14:30
Monday 12:30 14:30

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