Master of Finance

Graduates of the Master of Finance should have the capacity to work in professional practice by applying the specialist financial knowledge that this course aims to provide. The course is designed for students with a pre-existing Bachelor of Commerce (or equivalent) to undertake a broader and more comprehensive training in finance than is feasible within an undergraduate degree.

In particular this course aims to provide graduates with:

• Extensive applications of finance theory;
• Detailed knowledge of the operations and activities of financial markets;
• Apractical and career-oriented program;
• An understanding of financial management principles and their application to corporate financial policy;
• Acomprehensive understanding of Australian and international financial markets;
• Acomprehensive knowledge of derivative assets and the operation of the markets in these assets; and
• An applied knowledge of various specialised aspects of the finance industry.

• Demonstrate a comprehensive understanding of the fundamental principles of finance;
• Explain the primary financial theories relating to the way in which financial managers make common finance decisions; and
• Describe the main results of the applied research in the field of financial management.

• Describe the key institutional features of Australian capital markets;
• Analyse the key similarities and differences in features between the Australian and overseas financial markets; and
• Describe the key regulatory authorities that influence financial decision making both in Australia and overseas.

• Describe the key market features relating to a range of specific finance functions within Australian capital markets;
• Explain the main regulatory influences that impact upon these specialised functions; and
• Evaluate key similarities and differences between the Australian market and international markets with regards to the organisation and operation of these functions within their constituent markets.

Year 1

Core subjects: Students must take a total of six core subjects.

Elective subjects

Other fourth year (level four), Masters (level six) or Postgraduate Diploma (level eight) subjects as approved by the Academic Director of the program.

Please note:

If 333-693 Investment Management and 333-642 Corporate Financial Policy or equivalent subjects have not previously been taken, these must be included in the course of study (and preferably taken in the first semester).

Year 2

Core subjects: Students must take all five core Year 2 subjects.

Elective subjects

• No more than 25 points of fourth year (level four) or Postgraduate Diploma (level eight) subjects can be included in the second year of the degree – with one exception. In the case of students who have entered the Postgraduate Diploma in Finance or Master of Finance as mid-year students and taken 333-630 Derivative Securities or 333-618 Advanced Derivative Securities as part of the Diploma, inclusion of an additional 12.5 points of fourth year (level four) or Postgraduate Diploma (level eight) subjects in the Master of Finance will be permitted.
• Master of Finance 2nd Year students will be permitted to enrol in Master of Applied Finance elective subjects that are accredited as part of their course structure (please refer to the Master of Applied Finance subjects listed under the Master of Finance course structure in this Handbook).
• Students enrolling in Master of Applied Finance 6.25 point subjects, and who are not enrolled in this course, must take two 6.25 point subjects or be aware of the need to do more than the standard course load in their course in order to complete their program.
• Students who include a Winter semester subject as their final subject in the Master of Finance course may not be eligible to graduate from the program until after results are released in December of the same year.

1. The Selection Committee will evaluate the applicant's ability to pursue successfully the course using the following criteria:

• An undergraduate degree in a relevant discipline, or equivalent, with studies in Business Finance, Investments and Corporate Finance (37.5 points), or their equivalents;
• Results of the Graduate Management Admissions Test (GMAT); and
• The applicant's submitted statement of intent in seeking entry.

2. The Selection Committee may conduct interviews and tests and may call for referee reports or employer references to elucidate any of the matters referred to above.

For the purpose of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this course are articulated in the Course Description, Course Objectives and Generic Skills of this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

• Knowledgeable in a broad range of financial fields including derivatives, corporate finance and investment management.
• Skilled in utilising financial modelling to solve complex financial decisions.
• Critical thinkers in the field of modern finance theory who are aware of the way in which theory contributes to sound financial decision making in practice.
• Adept at applying financial theory and methods to knowledgeably discuss the importance of a wide range of financial issues.
• Financial problem solvers who have the skills necessary to resolve valuation issues in the presence of limited information sets.
• Competent in assessing the importance and relevance of theoretical or empirical research in Finance.
• Proficient at communicating financial ideas in a clear and concise manner.
• Effective team members through participation in collaborative exercises.
• Adept at retrieval of relevant financial information from a variety of sources.

• Applying financial theory and methods to knowledgeably discuss the importance of a wide range of financial issues.
• Financial problem solving through the application of the necessary analytical skills and techniques.
• Communicating financial ideas and research in a clear and concise manner.

Assessment

Students must pass all subjects to qualify for the Master of Finance; 100 points in the first year and 100 points in the second year.

Duration

A full-time student should complete the course in four consecutive semesters (two years) taking four subjects in each semester. A part-time student should complete the course in eight consecutive semesters (four years) taking two subjects in each semester. Part-time candidates should note that most subjects are offered during normal business hours.

PLEASE NOTE:

This course has the same structure as course 839AA Master of Financial Management but has changed name from 2009 to the Master of Finance.