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 FNCE90011 Derivative Securities or FNCE90005 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 the course successfully 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;
• The applicant’s submitted statement of intent in seeking entry; and
• Performance on the GMAT or GRE unless the applicant has met one of the approved conditions for GMAT or GRE exemption.

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.

Notes:

(a) Students who successfully complete the Postgraduate Diploma in Finance may be eligible to progress to the Master of Finance with 100 points credit.

(b) Students who discontinue from the Master of Finance but have successfully completed the requirements of the Postgraduate Diploma in Finance will be eligible to receive the Postgraduate Diploma in Finance as an exit award.

The Faculty of Business and Economics welcomes applications from students with disabilities. It is University and Faculty policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student’s participation in the Faculty’s programs.

The BCom and Masters degrees of the Faculty of Business and Economics equip graduates with the knowledge and technical skills necessary to understand and participate in the modern business world. The degrees include the following academic requirements for study:

(1) The ability to explain and evaluate concepts, theories, institutional arrangements and operations of modern mixed economies;
(2) The ability to critically evaluate the economy, commerce and business in the broader social and political context;
(3) The ability to explain and apply concepts across a range of commerce and business disciplines in solving business and policy problems; and
(4) The ability to contribute positively to the development of organisations and society in relation to business, government and the commercial professions.

All students of the Faculty’s courses must possess intellectual, ethical, and emotional capabilities required to participate in the full curriculum and to achieve the levels of competence required by the Faculty. Candidates for the BCom degree and for FBE Masters degrees must have abilities and skills in communication; in conceptual, integrative, and quantitative dimensions; and in behavioural and social dimensions.

I. Communication: The student must be able to communicate effectively and efficiently in oral and/or written form. A student must have the ability to clearly and independently communicate knowledge and application of a discipline, principles or practices during assessment tasks, and in some discipline streams.

II. Intellectual‐Conceptual, Integrative and Quantitative Abilities: The student is expected to have the ability to develop problem‐solving skills and demonstrate the ability to establish study plans and priorities. These abilities include measurement, calculation, reasoning, analysis, and synthesis. Problem solving requires all of these intellectual abilities. Students should also have the ability to comprehend complex disciplinary and cross disciplinary information related to the BCom and Masters degrees.

III. Behavioural and Social Attributes: A student must possess behavioural and social attributes that enable them to participate in a complex learning environment and the emotional health required for full utilisation of his/her intellectual abilities. Students are required to take responsibility for their own participation and learning. They also contribute to the learning of other students in collaborative learning environments, demonstrating interpersonal skills and an understanding of the needs of other students. Assessment may include the outcomes of tasks completed in collaboration with other students. Integrity, concern for others, interpersonal skills, interest, and motivation are all personal qualities that are deemed necessary for students enrolled in FBE courses.

Students who feel their disability will prevent them from participating in tasks involving the inherent academic requirements of the BCom and FBE Masters courses are encouraged to contact the Disability Liaison Unit. Adjustments can be provided to minimise the impact of a disability, but students should participate in the course in an independent manner.

• 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.

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.

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 FNCE90011 Derivative Securities or FNCE90005 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.