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Master of Finance
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Objectives
1. Learning Goal Graduates of this degree will be knowledgeable of financial management principles and their application to corporate financial policy. Learning objectives to achieve this goal: On successful completion of this degree students will be able to: * 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 * Describe the main results of the applied research in the field of financial management. 2. Learning Goal Graduates of this degree will be highly proficient and comprehensive in their understanding of Australian and international 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 * Describe the key regulatory authorities that influence financial decision making both in Australia and overseas. 3. Learning Goal Graduates of this degree will have an applied knowledge of various specialised aspects of the finance industry. Learning objectives to achieve this goal: On successful completion of this degree students will be able to: * 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 * 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.
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Academic title
Master of Finance
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Course description
YEAR 1
Core Subjects
Choose BOTH of the following two core subjects:
Subject Semester Credit Points
316-807 Economics of Finance
This subject examines important features of financial markets, illustrating how economic analysis can aid understanding of those features. Topics considered may include: payments systems (drawing on network economics); security issuance techniques (d... Semester 2 12.50
333-816 Financial Markets and Instruments
The structure of the financial system; terminology, trading and pricing of money and capital market instruments; duration, value at risk, financial market volatility; term structure of interest rates; inflation, interest rates and indexed securities;... Semester 1 12.50
Choose ONE of the following two core subjects:
Subject Semester Credit Points
333-810 Financial Spreadsheeting
The following topics will be covered: Financial Applications using Excel: basic spreadsheeting skills, functions and the function wizard, worksheet formatting and graphics. Financial problem solving tools: Solver, Goalseek and the Analysis Toolpak. D... Semester 2 12.50
333-403 Numerical Techniques in Finance
Numerical techniques focuses on the theory and application of numerical methods for solving financial problems. The applications may include option valuation, value at risk, term structure modelling, portfolio simulation and optimisation and capital ... Semester 2 12.50
Choose ONE of the following two core subjects:
Subject Semester Credit Points
306-660 Accounting for Decision Making
This subject is designed to enable students to be informed users of accounting information of all types. It is divided into three parts. The first part of the subject covers the basic concepts in accounting and the terminology used by accountants. Th... Semester 1, Semester 2, Summer 12.50
306-610 Financial Statement Analysis
An examination of the role of financial statement information and analysis in the evaluation of the current profitability, liquidity and riskiness of public companies, and the prediction of their future condition by parties external to the firm. Topi... Semester 1 12.50
Choose ONE of the following two core subjects:
Subject Semester Credit Points
316-806 Quantitative Analysis of Finance I
This course is concerned with the application of quantitative tools to model, estimate and forecast financial variables. Topics considered include: the analysis of the properties of financial data (such as non-normality and non-stationarity); the app... Semester 1 12.50
316-449 Financial Econometrics
This subject presents an econometric treatment of topics in finance. Normally the finance topics will include portfolio theory, capital asset pricing models, arbitrage pricing theory, efficient markets hypothesis, covered interest parity, term struct... Semester 2 12.50
Three elective subjects selected from:
Subject Semester Credit Points
333-635 Public Sector Financial Management
The structure of public sector finances; public sector financial accounting; the budget process; cash management and loan raising; public trading enterprises efficiency and accountability; pricing policies; revenue raising; investment appraisal. Semester 2 12.50
333-811 Treasury Management
This subject consists of a structured reading program and assignments and a series of seminars presented by practitioners on various aspects of Treasury Management and related themes. Topics covered include issues such as treasury functions, internat... Semester 2 12.50
333-815 Fundamentals of Portfolio Management
Investment principles, philosophies and processes. Application of modern portfolio theory; capital asset pricing models; equity valuation models and interest rate theory in managing various types of investment portfolios containing cash; and fixed in... Semester 2 12.50
333-819 Project Finance
Definitions and examples of project financing; analysis of the risks and potential returns associated with major projects; participants involved in projects financing deals - financing techniques used in project finance; case studies of specific proj... Semester 1 12.50
333-820 Property Investment, Development Finance
This subject presents the principles, concepts and methods needed to analyse an investment in an existing property, to analyse a potential property development and to raise private and public debt or capital for property investment. Discounted cash f... Semester 1 12.50
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:
1. If 333-301 Investments and 333-302 Corporate Finance or equivalent subjects have not previously been taken, these must be included in the course of study (and preferably taken in the first semester).
2. No more than 25 points (usually two subjects of 12.5 points each) can be chosen from subjects at third year (level three) and are subject to the approval of the Academic Director of the program.
YEAR 2
Core subjects
Subject Semester Credit Points
333-615 International Business Finance
Foreign exchange market microstructure; tests of parity relationships; measurement and management of foreign exchange exposure; international asset pricing models; international cost of capital and capital structure; international capital budgeting; ... Semester 2 12.50
333-630 Derivative Securities
This subject covers derivative markets and derivative securities. It discusses pricing, risk management and regulatory aspects of derivative securities. Topics include: forwards and futures markets, options markets, arbitrage and trading securities, ... Semester 1, Semester 2 12.50
333-631 Mergers and Value Enhancing Strategies
This subject covers mergers and acquisitions and other value enhancing policies. Topics to be covered include: valuation techniques, mergers and acquisitions (introduction, motives, corporate control, strategic issues, offensive and defensive strateg... Semester 1, Semester 2 12.50
333-632 Case Studies in Finance
This is a capstone subject for the program consisting of selected case studies covering portfolio analysis, financial management, derivatives and risk management, mergers and acquisitions, raising capital and other topical issues. Semester 2 12.50
316-633 Quantitative Analysis of Finance II
The focus of the subject is on the application of more advanced quantitative techniques to analyse and model financial data. Special emphasis is given to maximum-likelihood estimation and testing procedures under alternative distributional assumption... Semester 1 12.50
325-664 Strategic Management
This subject is about the strategic management process - how managers develop and implement strategies in organisations - and how that process itself is changing. It focuses on three main issues: (1) how different industry conditions support differen... Semester 1, Semester 2 12.50
Elective subjects
Select elective subjects worth 25 points from:
325-640 Marketing Management or other fourth year (level four), Masters (level six) or Postgraduate Diploma (level eight) subjects approved by the Academic Director of the program, including Master of Management subjects and the 6.25 point electives from the Master of Applied Finance Program listed below.
Master of Applied Finance electives available to second year students:
Subject Semester Credit Points
333-670 Fixed Income
This subject covers capital markets and money markets for fixed income securities. Topics include: fixed income analysis; capital and money market instruments; forwards and futures of interest rate securities; interest rate volatility; the term struc... Semester 1, Semester 2 6.25
333-671 Finance Law
The subject deals with a range of general law issues relating to finance including contract, property and security, as well as the sections of the trade practices legislation concerning misleading and deceptive conduct. Particular topics include fund... Semester 1 6.25
333-675 Funds Management
The investment management process, review of fundamental concepts, market efficiency, capital market characteristics and risk premia, setting investment objectives, strategic and tactical asset allocation, active/passive management, property, bond an... Semester 2 6.25
333-677 Technical Analysis and Trading
Technical trading analysis including pattern analysis and trends, stochastics, momentum market profiles, price-time analysis, elementary statistical evaluation of these methods. Semester 1 6.25
333-678 Financial Engineering
Financial engineering principles, valuation techniques, tax and regulatory issues involved in product development, analysis of specific products such as: Victorian Equity Trust, Tascorp Equity Bonds, Market Index Deposits, Converting Preference Share... Semester 1 6.25
333-685 Marketing Financial Analysis and Control
Overview of marketing financial analysis management issues; product management – profitability, pricing strategies, new product development; controlling costs; estimating revenue; customer analysis; profitability, value analy... Summer 6.25
333-686 Bank Lending Practices and Techniques
Characteristics of alternative loan facilities; bank loan pricing principles; principles of credit evaluation; banker-client relationships; approaches to security and collateral; methods of monitoring borrower solvency; and workout situations. Semester 2 6.25
333-691 Financial Planning and Advising
This subject focuses on the role of the professional financial adviser in personal financial planning. Topics will be drawn from: risk and return analysis; investment asset classes; features of different investment products; taxation issues relating ... Semester 1, Semester 2 6.25
Please note:
* 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.
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