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 will develop fundamental finance skills and be exposed to a range of real-world examples that demonstrate how these skills are applied in practice. Although students will not conduct research themselves, the course adopts a research-led approach, with lectures grounded in academic research and regularly drawing on important findings from the finance literature. This approach exposes students to foundational and contemporary developments in the field while demonstrating how finance concepts, theories and analytical techniques are applied in both academic research and professional practice. The relevance and practical application of the concepts introduced in the course will be further reinforced through the discussion of recent real-world examples throughout the semester.

Field Trips

Not applicable.

Additional Course Costs

Students are required to have access to a non-programmable scientific calculator for tutorials, in-tutorial quizzes, and the final examination. Financial calculators, graphics calculators, and other programmable calculators are not permitted. No other additional class costs are anticipated.

Examination Material or equipment

Detailed information regarding examination materials and equipment will be provided on the Canvas course site closer to the relevant assessment date.

Required Resources

There is no compulsory textbook for this course. All required learning materials will be provided through the course Canvas site.

Recommended Resources

The following textbook is recommended as a supplementary learning resource:

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

Use of this textbook is entirely optional and students are not required to purchase it in order to successfully complete the course. An electronic copy is available through ProQuest Ebook Central (https://ebookcentral.proquest.com/lib/anu/detail.action?docID=5494835) and may be accessed at no additional cost. Students may find the text helpful for reinforcing lecture material, exploring concepts in greater depth, and accessing additional practice questions.

Staff Feedback

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

• written comments
• verbal comments
• feedback to whole class, groups, individuals, focus group etc

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.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Lecture: Course Overview and an Introduction to Financial Markets Reading: Lecture 1 Slides, the CFA Code of Ethics and Sections I and VII of the CFA Standards of Professional ConductNB: There will be no workshop or tutorials held in Week 1
2	Lecture and Workshop: The Time Value of Money - Financial MathematicsReading: Lecture 2 SlidesTutorial: Tutorial 1 Questions (Week 1 Lecture content)
3	Lecture and Workshop: The Time Value of Money - Valuing SharesReading: Lecture 3 SlidesTutorial: Tutorial 2 Questions (Week 2 Lecture and Workshop content)
4	Lecture and Workshop: The Time Value of Money - Valuing Debt InstrumentsReading: Lecture 4 SlidesTutorial: Tutorial 3 Questions (Week 3 Lecture and Workshop content)	In-Tutorial Quiz 1
5	Lecture and Workshop: The Time Value of Money - Making Investment DecisionsReading: Lecture 5 SlidesTutorial: Tutorial 4 Questions (Week 4 Lecture and Workshop content)
6	Lecture and Workshop: Diversification - Defining Risk and Understanding its Relationship with ReturnReading: Lecture 6 SlidesTutorial: Tutorial 5 Questions (Week 5 Lecture and Workshop content)
7	Lecture and Workshop: Diversification - Portfolio TheoryReading: Lecture 7 SlidesTutorial: Tutorial 6 Questions (Week 6 Lecture and Workshop content)
8	Lecture and Workshop: Diversification - CAPM, the Required Rate of Return for Risk and their Application to NPVReading: Lecture 8 SlidesTutorial: Tutorial 7 Questions (Week 7 Lecture and Workshop content)
9	Lecture and Workshop: Arbitrage - Forward and Futures ContractsReading: Lecture 9 SlidesTutorial: Tutorial 8 Questions (Week 8 Lecture and Workshop content)	In-Tutorial Quiz 2
10	Lecture and Workshop: Arbitrage - Forward, Futures and Option ContractsReading: Lecture 10 SlidesTutorial: Tutorial 9 Questions (Week 9 Lecture and Workshop content)
11	Lecture and Workshop: Arbitrage - Option ContractsReading: Lecture 11 SlidesTutorial 10: Tutorial 10 Questions (Week 10 Lecture and Workshop content)	In-Tutorial Quiz 3
12	Lecture and Workshop: Arbitrage - Forward, Futures and Option Contracts for Risk Management and Course ReviewReading: Lecture 12 SlidesTutorial: Tutorial 11 Questions (Week 11 Lecture and Workshop content)

Tutorial Registration

Tutorials commence in Week 2 of the semester and will be held on campus. Each tutorial will discuss questions related to content covered in the previous week’s lectures. Tutorial questions

for each week are listed on the class Canvas page; students are expected to attempt these questions before attending and come prepared to discuss their responses during the

class. 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.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
In-Tutorial Quiz 1	10 %	17/08/2026	28/08/2026	1,2
In-Tutorial Quiz 2	10 %	05/10/2026	16/10/2026	1,2,3
In-Tutorial Quiz 3	10 %	19/10/2026	30/10/2026	1,2,3,4
Final Examination	70 %	05/11/2026	09/12/2026	1,2,3,4

* 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 Integrity Rule before the commencement of their course. Other key policies and guidelines include:

• Academic Integrity Policy and Procedure
• Student Assessment (Coursework) Policy and Procedure
• Extenuating Circumstances Application
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure
• Code of practice for teaching and learning

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 ‘Canvas’ 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.

Participation

Course content will be delivered via:

• A weekly lecture, which will be delivered in person, recorded, and made available via Echo360 on the course Canvas site. Lecture slides provide a summary of the key concepts discussed in each lecture and will be published in advance on Canvas. These concepts are expanded upon in the recommended textbook readings. Students are expected to engage with these materials before attending the corresponding lecture;
• A weekly workshop, which will be delivered in person, recorded, and made available via Echo360 on the course Canvas site. Workshops are designed to reinforce and apply lecture material through worked examples and problem-solving activities. Students are expected to engage actively in workshop activities and come to class prepared to participate in discussion; and
• A weekly tutorial, which will be delivered in person and will not be recorded. Students are expected to attempt all prescribed tutorial questions before attending the corresponding tutorial and come to class prepared to discuss their answers. Tutorials are designed to reinforce and apply lecture material and provide important preparation for the in-tutorial quizzes and final examination.

Students should use the lecturer's and/or tutors' consultation times to seek clarification on concepts they are unsure of. Consultation sessions may be held either in person or via Zoom and, in the case of the latter, will take place using the link provided on the course Canvas site.

Examination(s)

The Final Examination will be scheduled centrally by the Examinations, Conferrals and Prizes Office, with the date, time and location of the examination published prior to the examination period. The date referenced in the "Assessment Summary" section represents the commencement of the examination period rather than the scheduled date of the examination. Students should refer to ANU Timetabling for further information.

Assessment Task 1

In-Tutorial Quiz 1

In-Tutorial Quiz 1 is the first of three in-tutorial quizzes that students are required to complete during the semester. Each quiz is worth 10% and is redeemable against the final examination. As a result, each quiz will contribute either 0% or 10% towards a student's final course grade. Unless otherwise advised by the lecturer, the timing, grading and return of In-Tutorial Quiz 1 will be as detailed in the "Class Structure and Content" and "Assessment Summary" sections of this document. In particular:

• In-Tutorial Quiz 1 will be closed-book, 20 minutes in duration and held at the end of Tutorial 3;
• Students must complete In-Tutorial Quiz 1 in the tutorial in which they are enrolled. Unless alternative arrangements have been approved by the lecturer, quizzes completed in another tutorial will not be accepted;
• Examinable content for In-Tutorial Quiz 1 will be limited to the material covered in the Week 3 lecture (as revised in Tutorial 3);
• Students must complete In-Tutorial Quiz 1 in pen (not pencil);
• Students must bring a non-programmable scientific calculator for use during the quiz. Dictionaries, financial calculators, graphics calculators and other electronic devices are not permitted;
• Marked quizzes will be returned to students in Tutorial 4; and
• Solutions to In-Tutorial Quiz 1 will be released on Canvas at the end of Week 5 (i.e. after all Tutorial 4 classes have been held).

Assessment Task 2

In-Tutorial Quiz 2

In-Tutorial Quiz 2 is the second of three in-tutorial quizzes that students are required to complete during the semester. Each quiz is worth 10% and is redeemable against the final examination. As a result, each quiz will contribute either 0% or 10% towards a student's final course grade. Unless otherwise advised by the lecturer, the timing, grading and return of In-Tutorial Quiz 2 will be as detailed in the "Class Structure and Content" and "Assessment Summary" sections of this document. In particular:

• In-Tutorial Quiz 2 will be closed-book, 20 minutes in duration and held at the end of Tutorial 8;
• Students must complete In-Tutorial Quiz 2 in the tutorial in which they are enrolled. Unless alternative arrangements have been approved by the lecturer, quizzes completed in another tutorial will not be accepted;
• Examinable content for In-Tutorial Quiz 2 will be limited to the material covered in the Week 8 lecture (as revised in Tutorial 8);
• Students must complete In-Tutorial Quiz 2 in pen (not pencil);
• Students must bring a non-programmable scientific calculator for use during the quiz. Dictionaries, financial calculators, graphics calculators and other electronic devices are not permitted;
• Marked quizzes will be returned to students in Tutorial 9; and
• Solutions to In-Tutorial Quiz 2 will be released on Canvas at the end of Week 10 (i.e. after all Tutorial 9 classes have been held).

Assessment Task 3

In-Tutorial Quiz 3

In-Tutorial Quiz 3 is the third of three in-tutorial quizzes that students are required to complete during the semester. Each quiz is worth 10% and is redeemable against the final examination. As a result, each quiz will contribute either 0% or 10% towards a student's final course grade. Unless otherwise advised by the lecturer, the timing, grading and return of In-Tutorial Quiz 3 will be as detailed in the "Class Structure and Content" and "Assessment Summary" sections of this document. In particular:

• In-Tutorial Quiz 3 will be closed-book, 20 minutes in duration and held at the end of Tutorial 10;
• Students must complete In-Tutorial Quiz 3 in the tutorial in which they are enrolled. Unless alternative arrangements have been approved by the lecturer, quizzes completed in another tutorial will not be accepted;
• Examinable content for In-Tutorial Quiz 3 will be limited to the material covered in the Week 10 lecture (as revised in Tutorial 10);
• Students must complete In-Tutorial Quiz 3 in pen (not pencil);
• Students must bring a non-programmable scientific calculator for use during the quiz. Dictionaries, financial calculators, graphics calculators and other electronic devices are not permitted;
• Marked quizzes will be returned to students in Tutorial 11; and
• Solutions to In-Tutorial Quiz 3 will be released on Canvas at the end of Week 12 (i.e. after all Tutorial 11 classes have been held).

Assessment Task 4

Final Examination

The Final Examination will be a closed-book examination and will be held in person on campus during the examination period commencing on 05/11/2026. The Final Examination will count towards at least 70% of a student's final course grade and, in the event that one or more In-Tutorial Quizzes are redeemed, may be worth up to 100% of the student's final course grade. In particular:

• The Final Examination will be scheduled centrally by the Examinations, Conferrals and Prizes Office, with the timing and location of the examination published prior to the examination period. The date referenced in the "Assessment Summary" section is the first day of the examination period. Please refer to ANU Timetabling for further information;
• The Final Examination will include a mix of theoretical and numerical questions designed to assess students' understanding of all concepts introduced during the course. Further information regarding the structure of the examination and the material to be assessed will be discussed in lectures and summarised on the course Canvas site;
• Students will be given 15 minutes of reading time and 2 hours of writing time to complete the Final Examination;
• Students must bring a non-programmable scientific calculator for use during the Final Examination. Dictionaries, financial calculators, graphics calculators and other electronic devices are not permitted; and
• Examination scripts will not be returned to students.

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 online submissions in this course.

Hardcopy Submission

There are no hardcopy submissions in this course.

Late Submission

Late submission of assessment tasks is not permitted in this course. Assessments that are not completed by the due date and time will be awarded a mark of 0.

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. Any use of artificial intelligence must be properly referenced. Failure to properly cite use of Generative AI will be considered a breach of academic integrity.

Returning Assignments

Not applicable.

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

Not applicable.

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 Accessibility 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 supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents all ANU students