This unit is designed to introduce students to the practical application of decision support systems for finance using modern computer tools. It covers issues associated with the implementation, theory and risk of decision support systems for finance. The aims of this course are to provide a study of the concepts behind decision making; the tools and techniques to support various stages of the decision making process and to explore key factors of successful decision support systems for finance problems and their development methodology. On completion of the unit, students should be able to:
2 hrs lectures/wk, 1 hr laboratory/wk
You will need to allocate up to 5 hours per week in some weeks, for use of a computer, including time for newsgroups/discussion groups.
BUS3030, AFF2051, AFW2051
Completion of 24 points of FIT units at level 1
Associate Professor Vincent Lee
Consultation hours: Friday, 1:00-3:00pm Clayton campus, Lecture theatre H4; consultation hours: Thursday 15:00-17:00 hr, Clayton campus, building 63, office 122
Kevin Liao, Consultation hours: TBA
Consultation hours: Tuesday, 10:00 and 13:00 hrs CL_19/103
Examination (2 hours): 60%; In-semester assessment: 40%
| Assessment Task | Value | Due Date |
|---|---|---|
| Finance knowledge fundamental and analysis for DSS | 10% | Thursday 5 April 2012, 4pm |
| Analytic Hierarchical / Analytic Network Process/ Value at risk | 25% | Monday 21 May 2012, 4pm |
| Tutorial / laboratory attendance and participation | 5% | At the end of each tutorial / lab class |
| Examination 1 | 60 % | To be advised |
Monash is committed to excellence in education and regularly seeks feedback from students, employers and staff. One of the key formal ways students have to provide feedback is through SETU, Student Evaluation of Teacher and Unit. The University's student evaluation policy requires that every unit is evaluated each year. Students are strongly encouraged to complete the surveys. The feedback is anonymous and provides the Faculty with evidence of aspects that students are satisfied and areas for improvement.
For more information on Monash's educational strategy, and on student evaluations, see:
http://www.monash.edu.au/about/monash-directions/directions.html
http://www.policy.monash.edu/policy-bank/academic/education/quality/student-evaluation-policy.html
Some modifications on assessment criteria. There are two assignments - one individual assignment and one group assignment, and no class test.
If you wish to view how previous students rated this unit, please go to
https://emuapps.monash.edu.au/unitevaluations/index.jsp
Please check with your lecturer before purchasing any Required Resources. Prescribed texts are available for you to borrow in the library, and prescribed software is available in student labs.
Excel Spreadsheet and Crystal Ball software. Expert Choice, or Matlab toolbox, or JAVA (JADE).
These will either be freely downloadable or available for use in University computer labs. Further details to be advised.
| Week | Activities | Assessment |
|---|---|---|
| 0 | No formal assessment or activities are undertaken in week 0 | |
| 1 | Fundamentals to decision making in finance | |
| 2 | Finance knowledge creation process for Decision Support Systems in Finance | Assessed tutorial / lab classes begin this week |
| 3 | Analysis of financial statement using ratios | |
| 4 | Risk-return and investment portfolio issues - I | |
| 5 | Risk-return and investment portfolio issues - II | |
| 6 | Multicriteria decision support framework (AHP) | Assignment 1 due Thursday 5 April 2012, 4pm |
| 7 | Application of AHP to finance decision support (work example) | |
| 8 | Using AHP for investment portfolio decision - I | |
| 9 | Using AHP / ANP for investment portfolio decision - II | |
| 10 | Operational finance (risk management) DSS fundamental | |
| 11 | Intelligent decision support systems for finance fundamental | |
| 12 | Intelligent decision support systems for finance (applications) | Assignment 2 due Monday 21 May 2012, 4pm |
| SWOT VAC | No formal assessment is undertaken SWOT VAC | |
| Examination period | LINK to Assessment Policy: http://policy.monash.edu.au/policy-bank/ academic/education/assessment/ assessment-in-coursework-policy.html |
*Unit Schedule details will be maintained and communicated to you via your MUSO (Blackboard or Moodle) learning system.
Faculty Policy - Unit Assessment Hurdles (http://www.infotech.monash.edu.au/resources/staff/edgov/policies/assessment-examinations/unit-assessment-hurdles.html)
This individual assignment will be based on computational questions using financial ratios and associated company specific factors.
Criteria to be used are:
1) Investment portfolio formulation methods. (30 / 100)
2) Solution to investment portfolio to obtain optimum asset class allocation. (30 / 100)
3) Discussion with interpretation of results and their implications. (30 / 100)
4) Conclusion and recommendation of issues for further investigations. (10 / 100)
The report will be graded according to the following criteria:
The tutor will monitor individual contributions when allocating marks to members of the group.
Attendance and participation of activities.
The tutor in charge will take attendance and monitor individual participation of activities when allocating marks to members of the group.
It is a University requirement (http://www.policy.monash.edu/policy-bank/academic/education/conduct/plagiarism-procedures.html) for students to submit an assignment coversheet for each assessment item. Faculty Assignment coversheets can be found at http://www.infotech.monash.edu.au/resources/student/forms/. Please check with your Lecturer on the submission method for your assignment coversheet (e.g. attach a file to the online assignment submission, hand-in a hard copy, or use an online quiz).
Submission must be made by the due date otherwise penalties will be enforced.
You must negotiate any extensions formally with your campus unit leader via the in-semester special consideration process: http://www.infotech.monash.edu.au/resources/student/equity/special-consideration.html.
Students can expect assignments to be returned within two weeks of the submission date or after receipt, whichever is later.
Resubmission or an extension of the submission dateline (up to 5 working days) may be granted if a medical certificate is produced.
Basic reading / reference materials for Assignment 2 will be issued. Students aiming for a HD grade are expected to explore / discuss and add innovations to methodology used in the assignment.
Monash has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University's academic standards, and to provide advice on how they might uphold them.
You can find Monash's Education Policies at:
http://policy.monash.edu.au/policy-bank/academic/education/index.html
Key educational policies include:
The University provides many different kinds of support services for you. Contact your tutor if you need advice and see the range of services available at www.monash.edu.au/students. For Sunway see http://www.monash.edu.my/Student-services, and for South Africa see http://www.monash.ac.za/current/
The Monash University Library provides a range of services and resources that enable you to save time and be more effective in your learning and research. Go to http://www.lib.monash.edu.au or the library tab in my.monash portal for more information. At Sunway, visit the Library and Learning Commons at http://www.lib.monash.edu.my/. At South Africa visit http://www.lib.monash.ac.za/.
Academic support services may be available for students who have a disability or medical condition. Registration with the Disability Liaison Unit is required. Further information is available as follows:
Reading List
Brigham, E. F. and Houston, J. F. (2012), Fundamentals of Financial Management (Concise ceventh edition), South-western
Slaughter, S.J. and Delwiche, L. D. (2011), The Little SAS Book for Enterprise Guide 4.2, SAS
Charnes, J (2007), Financial Modelling with Crystal Ball and Excel + companion web site, ISBN 13: 978-0-471-77972-8, John Wiley