Course Title: Apply economic principles to work in the financial services industry

Part A: Course Overview

Program: C6181 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.

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ECON5051C

City Campus

TAFE

525T Business & Enterprise

Face-to-Face or Internet

 Term2 2023

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 that 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.

The unit applies to individuals who have understand economics and how it impacts work in the financial services industry. The skills and knowledge described in this unit also underpin 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

There are no pre-requisites for this unit.



National Competency Codes and Titles

National Element Code & Title:

FNSINC611 Apply economic principles to work in the financial services industry

Elements:

1. Identify economic principles that impact work

2. Use knowledge of economic principles in work

3. Review work and maintain understanding of economic principles

Learning Outcomes


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

  • apply economic principles to at least one product and one service
  • apply financial modelling techniques to at least one scenario.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

  • key features of common economic theories that relate to the financial services industry
  • key features of microeconomic principles and how they relate to financial services industry products, services and organisational practices
  • capital adequacy requirements for financial services organisations based on financial product mix
  • asset pricing models and their use in identifying organisational value and capital structures
  • key economic theories and valuation of assets relevant to own role
  • financial modelling techniques and tools
  • industry or organisation financial markets, products and services
  • legislative and statutory requirements and industry codes of practice relevant to own role
  • techniques and tools for evaluation and interpretation of research data.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

  • office equipment, technology, software and consumables
  • current financial services industry economic literature and research.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

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.