Course Title: Facilitate customer awareness of the Australian financial system and markets
Part B: Course Detail
Teaching Period: Term2 2009
Course Code: ACCT5238C
Course Title: Facilitate customer awareness of the Australian financial system and markets
School: 650T TAFE Business
Campus: City Campus
Program: C4210 - Certificate IV in Financial Services
Course Contact : Clem Simonetto
Course Contact Phone: +61 3 9925 5426
Course Contact Email:clem.simonetto@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
John Calabro
Level 14 Building 108
Email: john.calabro@rmit.edu.au
Phone: 9925 5464
Craig Kingsley
Email: craig.kingslet@rmit.edu.au
Level 14 Building 108
Nominal Hours: 40
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
NONE
Course Description
This unit covers the skills and knowledge to develop client awareness of how the monetary and financial systems and markets operate in Australia, with the aim of enhancing basic consumer financial literacy. It also enables learners to develop knowledge of the nature and role of financial institutions and markets within the Australian financial system.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSFLIT502B Facilitate customer awareness of the Australian financial system and markets |
Element: |
FNSFLIT502B/01 Explain to clients, the function and role of the Reserve Bank of Australia (RBA) |
Performance Criteria: |
· The role of the RBA as Australia's central bank is explained to the client |
Element: |
FNSFLIT502B/02 Outline the role of money and Australia’s monetary base |
Performance Criteria: |
· Society's motivations for holding money are identified and discussed with the client |
Element: |
FNSFLIT502B/03 Outline the main features of the Australian financial markets |
Performance Criteria: |
· The purpose of financial markets is explained to the client |
Element: |
FNSFLIT502B/04 Provide information to the client about regulation of the financial system |
Performance Criteria: |
· The role of independent regulation in the financial system is explained to the client |
Learning Outcomes
Refer to performance elements and performance criteria.
Details of Learning Activities
In this course students will undertake a range of learning activities, which will include:
An initial introduction to topics and techniques via teacher directed learning, tutorial-based discussion groups, role-plays to explore individual reactions to particular situations, a group project (case-study) and tutorial exercises in order to develop competency including underpinning skills and knowledge.
Teaching Schedule
Week beginning | Topics |
Week 1 |
Introduction money, the money supply |
Week 2 | money and the level of economic activity the quantity theory of exchange, the credit creation process |
Week 3 |
The AFS overview of the AFS,structure of the AFS, functions of the AFS |
Week 4 | an overview of deregulation of the AFS, recent major changes relating to the AFS |
Week 5 | Monetary Policy and Prudential Supervision the role and function of the RBA, the conduct of monetary policy |
Week 6 | Monetary Policy and Prudential Supervision the role and function of the RBA, the conduct of monetary policy |
Week 7 | the role and Function of APRA, prudential controls used by APRA; revision |
Week 8 | Class Test |
Week 9 | Financial Markets Equity markets, Corporate debt markets, Government debt markets |
Week 10 | Encompassing: Short – medium term markets, Long – term markets, Primary and secondary markets, Direct and indirect markets |
Week 11 | Financial Instruments ( within corporate and government debt markets) commercial bills, debentures and unsecured notes, fully drawn advances, intercompany loans, bank overdrafts, term loans, government securities |
Week 12 | Financial Instruments continued |
Week 13 | Assignment due |
Week 14 | Securitisation |
Week 15 | revision |
Week 16 | Final Class Test (50%) |
Week 17 | Feedback on assessment |
Learning Resources
Prescribed Texts
• Prescribed text |
References
Relevant websites/URLs RMIT University, Tier 1 Compliance Program notes (available for download from Learning Hub) |
|
Fraser, I et al (2005) Economics for Business, McGraw Hill |
|
Hunt, B. and Terry, C. (2008) Financial institutions & markets, 5th ed, Thomson, Melbourne |
|
McGrath, M. and Viney, C., (2007) Financial Institutions, Instruments and Markets In Australia, McGraw Hill |
|
Layton, Robinson and Tucker, Economics for today, Thomson, Melbourne |
Other Resources
• Online resources
Students will be provided with online resources in the learning hub that includes course overheads and self-directed exercises, online feedback exercises and relevant url’s.
Overview of Assessment
Assessment may incorporate a variety of methods including written tests, a group assignment and final test.
The tests are closed book and consist of multiple choice, practical exercises and short answer questions. The group assignment requires students to research the role and function of a financial institution or a major contemporary issue relating to the financial system and of concern to consumers.
You will receive ongoing feedback on your progress in the course. Feedback on assessment will be given in a timely manner. You will be informed about how to improve your performance in the competency/course and what you need to do to be deemed competent or to gain a pass in the assessment.
Assessment Tasks
The assessment will consist of:
• A test worth 30% of the assessment for the course to be held after topic 2, in week 9.
• A group assignment worth 30% of the assessment. The assignment will require students to research the role and function of a financial institution or a major contemporary issue relating to the financial system and of concern to consumers. It will be due in Week 14.
• A closed book test worth 40% of the assessment of the course. It will be held at the end of the course. It will assess the performance elements in addition to the underpinning skills and knowledge of the course.
To be deemed competent in this course, students must pass all assessment elements. Additionally, students will be graded in this course. The grade will be determined on the overall mark attained and will be based on the grade criteria listed below.
Course Grade Criteria
HD > = 80 High Distinction
DI 70 - 79 Distinction
CR 60 - 69 Credit
PA 50 - 59 Pass
NN < 50 Fail
NYC Not Yet Competent
DNS Did Not Submit
Assessment Matrix
Class test | Group assignment | Final Test | |
Explain to clients, the function and role of the Reserve Bank of Australia (RBA) | Y | Y | Y |
Outline the role of money and Australia’s monetary base | Y | Y | Y |
Outline the main features of the Australian financial markets | Y | Y | Y |
Provide information to the client about regulation of the financial system | Y | Y |
Course Overview: Access Course Overview