Course Title: Price financial transactions
Part B: Course Detail
Teaching Period: Term2 2009
Course Code: ACCT5284C
Course Title: Price financial transactions
School: 650T TAFE Business
Campus: City Campus
Program: C6072 - Advanced Diploma of Accounting
Course Contact : Arie Herrnstadt
Course Contact Phone: +61 3 9925 5897
Course Contact Email:arie.herrnstadt@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Arie Herrnstadt
Phone: 03 9925 5897
Fax: 03 9925 5986
arie.herrnstadt@rmit.edu.au / a.herrnstadt@rmit.edu.au
Clem Simonetto
Phone: 03 9925 5426
Clem.simonetto@rmit.edu.au
Nominal Hours: 60
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
There are no pre-requisites and co-requisites.
Course Description
This unit requires the application of skills and knowledge required to price financial transactions. The unit encompasses compiling financial information and data, analysing and making prices and recording financial transactions.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSFMKT601B Price financial transactions |
Element: |
1. Compile financial information and data |
Performance Criteria: |
1.1 Sources of financial data relating to financial products and financial markets are identified for analysis purposes |
Element: |
2. Analyse and make prices |
Performance Criteria: |
2.1 Financial products are analysed utilising standard financial market investment concepts, against evaluated financial market data. |
Element: |
3. Record financial transaction |
Performance Criteria: |
3.1 Client acceptance of financial transaction price is confirmed according to organisation requirements. |
Learning Outcomes
Details of Learning Activities
To achieve the learning outcomes of the course students are required to participate in the learning activities listed below:
• Attendance at and note taking during teacher directed learning (scheduled lectures);
• Reading of and note taking from the prescribed textbook and other references;
• Completion of tutorial exercises prior to each workshop. Tutorial exercises consist of practical problems, short answer questions, multiple choice, case studies and extension exercises;
• Attendance, participation and discussion in class (tutorials);
• Optional consultation with academic staff;
• Completion of three (3) assessment tasks as indicated below.
Teaching Schedule
| Week beginning | |
| Week 1 | Basic Economics concepts, Discussion of the Course guide |
| Week 2 | Circular flow of income |
| Week 3 | GDP and the business cycle |
| Week 4 | Aggregate demand |
| Week 5 | Unemployment. Assignment (30% distributed); assignment is due in week 14 |
| Week 6 | Inflation |
| Week 7 | Macroeconomic Management |
| Week 8 | Class Test 1 (20%) |
| Week 9 | Discussion of Test 1 and Assignment |
| Week 10 | The AFS, Money and level of economic activity |
| Week 11 | Monetary policy |
| Week 12 | Fiscal policy |
| Week 13 | Fiscal policy |
| Week 14 | International Trade. Assignment (30%) due |
| Week 15 | Balance of Payments and Exchange rates |
| Week 16 | Revision |
| Week 17 | Final Class Test (50%) |
Learning Resources
Prescribed Texts
Recommended Text |
References
Fraser I, Fraser S, Gionea J (2005) Economics for Business 3rd Ed. McGraw Hill-Australia, Sydney |
Other Resources
Print based resources
Students will be provided with a course guide that will outline topics and their objectives together with timelines. In addition students have access to online resources including lecture notes, overheads, tutorial questions, solutions to tutorial questions for each topic and samples of past assessment.
Overview of Assessment
Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.
Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.
Assessment Tasks
Students will be provided with more than one opportunity to demonstrate competence. Competency based assessment is detailed below.
Assessment Tasks
A class test & final class test
They will include a combination of multiple choice, short answer questions and extended answer questions.
Test 1 – in week 8 Value - 20%
Final Class Test in week 17 Value - 50%
Assessment Task
Assignment This will be a group assignment with a maximum of three members. It will include a combination of basic research questions and questions that analyse, evaluate and reinforce learning outcomes. The assignment will assess the performance criteria of the course.
Note that ALL members of an assignment group may have to answer questions about any part of their assignment, or to show their contribution, to validate their competency and to determine their marks. Assignment – distributed in week 4. It is due in week 14
To be deemed competent in this course, students must pass all performance 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.
Graded results will apply the following
Grade HD Mark > = 80 Description High Distinction
Grade DI Mark 70 - 79 Description Distinction
Grade CR Mark 60 - 69 Description Credit
Grade PA Mark 50 - 59 Description Pass
Grade NN Mark 0 - 49 Description Fail
Grade NYC Mark Not Applicable Description Not Yet Competent
Grade DNS Mark Not Applicable Description Did Not Submit
Assessment Matrix
| Performance Element |
|
Group Assignment | Final Test |
| 1. Compile financial information and data | Y | Y | |
| 2. Analyse and make prices | Y | Y | |
| 3. Record financial transaction | Y | Y | |
| Underpinning knowledge and skills (learning outcomes 1 – 6) | Y | Y | Y |
Other Information
Assessment Criteria
The following links the assessment criteria to the topics covered in the course:
Topic
1. Illustrate and explain the circular flow macroeconomic model, the national income equilibrium and the factors that cause fluctuations in equilibrium.
Assessment activities
Test 1
Assignment
Assessment Criteria
• Identify the flows and markets in the basic circular flow of income model.
• Discuss how the modified circular flow of income model can explain fluctuations in economic activity and economic change.
• Define the main national accounts with particular reference to the Gross Domestic Product.
• Describe the measurement and construction of gross domestic product (GDP). Distinguish between nominal and real change in output.
• Identify and explain the components of aggregate demand. Discuss the main determinants of aggregate demand.
• Demonstrate equilibrium income using the AD-AS diagram.
• Outline comparative features of GDP size, growth and structure in East Asian economies
Topic
2. List and analyse the causes and effects of changes in the business cycle, and explain and illustrate the effect of demand on inflation and unemployment.
Assessment Activities
Test 1
Final Class Test
Assignment
Assessment Criteria
• Identify real GDP as an indicator of the business cycle. Identify and explain the features of the phases of the business cycle.
• Define unemployment and the unemployment rate.
• Discuss the types and causes of unemployment.
• Define inflation and explain its causes and consequences. Explain how inflation is measured in Australia
Topic
3. Explain the purpose and objectives of the financial system and discuss the nature and importance of its institutions, financial assets and markets.
Assessment Activities
Final Class Test
Assignment
Assessment Criteria
• Explain the role of the financial system in an economy.
• Explain the role of financial institutions, the central bank and the role of prudential regulation.
• Define the measures of the money supply.
Topic
4. Analyse the concept and purpose of economic management, and assess the effectiveness of fiscal and monetary policies.
Assessment Activities
Final Class Test
Assignment
Assessment Criteria
• Outline the objectives of macroeconomic management
• Discuss the objectives of monetary policy.
• Describe the roles of participating institutions and the route by which monetary policy affects the operation of the economy. Analyse the techniques of monetary policy.
• Discuss the effectiveness of monetary policy.
• Discuss the objectives of fiscal policy.
• Describe the roles of the budget in the implementation of fiscal policy. Discuss the effectiveness of fiscal policy.
Topic
5. Outline the reasons for trade between countries. Examine and discuss Australia’s trade and investment flows, the balance of payments, exchange rates and macroeconomic effects of foreign trade.
Assessment Activities
Final Class Test
Assessment Criteria
• Explain the reason for international trade and identify the benefits of trade using the concepts of absolute and comparative advantage.
• Define the balance of payments and identify its major components. Measure the balance of merchandise trade and the current account balance. Explain the causes and the effects of the Current Account Balance.
• Define exchange rates and identify how exchange rates are determined.
• Discuss the factors that impact on the value of exchange rate. Explain the economic impact of changes in the exchange rate.
Course Overview: Access Course Overview