Course Title: Apply economic principles to work in the financial services industry
Part A: Course Overview
Program: C6163 Advanced Diploma of Accounting
Course Title: Apply economic principles to work in the financial services industry
Portfolio: Vocational Education
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.Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
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Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
Terms
Course Code |
Campus |
Career |
School |
Learning Mode |
Teaching Period(s) |
ECON5050C |
City Campus |
TAFE |
525T Business & Enterprise |
Face-to-Face or Internet |
Term1 2022, Term2 2022, Term1 2023 |
ECON5050C |
City Campus |
TAFE |
650T Vocational Business Education |
Face-to-Face or Internet |
Term1 2019, Term2 2019, Term1 2020, Term2 2020, Term1 2021, Term2 2021 |
Course Contact: Doug Gourlay
Course Contact Phone: +61 3 9925 5944
Course Contact Email: doug.gourlay@rmit.edu.au
Course Description
This unit describes the skills and knowledge required to apply broad principles of financial economics that underpin a range of tasks and functions in the financial services industry. It includes understanding how financial instruments are priced in markets, and techniques and processes government and organisations use to manage financial risk, demonstrating broad knowledge of economic theories and related decision making in a national and organisational economic context.
It applies to individuals who have an understanding of economics and how this impacts on work in the financial services industry. It also underpins other skills required for work in the financial services industry and may be applied in all sectors of the industry.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Pre-requisite Courses and Assumed Knowledge and Capabilities
None
National Competency Codes and Titles
National Element Code & Title: |
FNSINC601 Apply economic principles to work in the financial services industry |
Elements: |
1. Apply economic principles and theories 2. Evaluate economic aspects that apply to decision making 3. Review own work 4. Maintain personal understanding of economic policies |
Learning Outcomes
Overview of Assessment
Performance Evidence
Evidence of the ability to:
- research economic trends, evaluate impacts, and access and interpret corporate regulations
- analyse and apply a range of financial modelling techniques and tools
- reflect on and review own performance in applying knowledge of economic principles in day-to-day work functions.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
Knowledge Evidence
To complete the unit requirements safely and effectively, the individual must:
- outline key features of common economic theories that relate to the financial services industry
- outline key features of microeconomic principles and how they relate to financial services industry products, services and organisational practices
- explain capital adequacy requirements for financial services organisations based on financial product mix
- explain asset pricing models and their use in identifying organisational value and capital structures
- explain and apply economic theories and valuation of assets
- identify and apply financial modelling techniques and tools
- outline industry or organisation financial markets, products and services
- describe key features of relevant legislation, statutory requirements and industry codes of practice
- identify and describe techniques and tools for evaluation and interpretation of research data
- describe the economic and political climate relating to the financial services industry.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the industry capability field and include access to:
- common office equipment, technology, software and consumables.
- current financial services industry economic literature and research.
Assessors must satisfy NVR/AQTF assessor requirements.
You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.
Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.