Master of Applied Finance

Graduates of the Master of Applied Finance should have the capacity to work in professional practice by applying the specialist financial knowledge that this course aims to provide.

1. Learning Goal

Graduates of this degree will be comprehensive in their understanding of financial management principles and the changing knowledge base in finance.

Learning objectives to achieve this goal:

On successful completion of this degree students will be able to:

• Effectively communicate a detailed understanding the fundamental principles of finance;
• Analyse financial data within a constantly evolving financial environment; and
• Knowledgably describe the main results of the applied research in the field of financial management.

2. Learning Goal

Graduates of this degree will be analytically evaluative x of the international context and sensitivities of financial management and financial markets.

Learning objectives to achieve this goal:

On successful completion of this degree students will be able to:

• 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.

3. Learning Goal

Graduates of this degree will have a comprehensive understanding of the challenges faced in corporate financial decision making and financial markets, including those involving derivative assets and the operation of the markets in these assets.

Learning objectives to achieve this goal:

On successful completion of this degree students will be able to:

• Describe the key market features relating to derivative markets in Australia;
• Undertake valuation analysis using a range of derivative pricing models; and
• Highlight key similarities and differences between Australian securities markets and international markets with an emphasis on derivative and equity markets.

The Master of Applied Finance course consists of five 12.5 point core subjects and six 6.25 point elective subjects.

Core Subjects

Select ALL of the following core subjects:

Elective Subjects

Select SIX of the following elective subjects:

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, including one or more subjects in introductory statistics and/or mathematics; and at least three years of documented relevant work experience in the finance industry;
• 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 Certificate in Applied Finance may be eligible to progress to the Master of Applied Finance Accounting with 50 points credit.

(b) Students who discontinue from the Master of Applied Finance but have successfully completed the requirements of the Postgraduate Certificate in Applied Finance will be eligible to receive the Postgraduate Certificate in Applied 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.

On successful completion of this degree graduates will be:

• Knowledgeable in a broad range of financial fields including derivatives, corporate finance and investment management;
• Adept at making financial decisions on the basis of established financial theory and their knowledge of best practice;
• Skilled in utilising financial modelling to solve complex financial decisions;
• Aware of the importance of the adoption of appropriate risk management techniques to the modern firm;
• Financial problem solvers who have the skills necessary to resolve valuation issues in the presence of limited information sets;
• Adept at linking their own prior experience in financial markets with modern finance thoery;
• Proficient at communicating financial ideas in a clear and concise manner;
• Effective team members through participation in collaborative exercises; and
• Adept at retrieval of relevant information from a variety of sources.

On successful completion of this degree students should have enhanced their skills in:

• Applying financial theory and methods to knowledgably discuss the importance of a wide range of financial issues;
• Financial problem solving through the application of the necessary analytical skills and techniques; and
• Communicating financial ideas to practical problems commonly faced in an applied setting.

Entry into this program for new students will not be available in 2012.

Students who successfully complete the Postgraduate Certificate in Applied Finance may be eligible to progress to the Master of Applied Finance Accounting with 50 points credit.

Students will be required to purchase the textbooks and workbooks for all subjects from the University Bookroom.

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 enrolled in the Master of International Business, Master of Management (including all specialisations), Master of Business and Information Technology and Master of Accounting who are interested in enrolling in Master of Applied Finance subjects must:

• Meet all prerequisites for entry to the Master of Applied Finance degree prior to taking up the subject;
• Meet all prerequisites for the particular subject; and
• Have the permission in writing of the Academic Director of the Master of Applied Finance as well as the permission of the Academic Director of their own course. Written requests must be sent directly to the Manager, Graduate School of Business and Economics.

Permission to enrol in any Master of Applied Finance subjects is dependent on places being available. Priority is given to students enrolled in the Master of Applied Finance and Master of Finance (2nd Year) students.

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. The student (and not the Faculty) incurs any costs associated with undertaking more than the standard course load.

Students who include a Winter semester subject as one of their final subjects in the Master of Applied Finance course may not be eligible to graduate from the program until after results are released in December of the same year.

Graduate Certificate in Applied Finance

Students enrolled in the Master of Applied Finance who are either unable, or who choose not to continue with their studies, may be eligible to exit with a Graduate Certificate in Applied Finance. Students must have successfully completed a total of four core Master of Applied Finance subjects approved by the program director.

Assessment

Students must pass all eleven subjects to qualify for the Master of Applied Finance.