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:
Minimum total expected workload equals 12 hours per week comprising:
(a.) Contact hours for on-campus students:
(b.) Additional requirements (all students):
See also Unit timetable information
BUS3030, AFF2051, AFW2051
Completion of 24 points of FIT units at level 2
Poh Lim (Mary)
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 the Student Evaluation of Teaching and Units (SETU) survey. 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, see:
www.monash.edu.au/about/monash-directions/ and on student evaluations, see: 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
| 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 (week beginning 9 March 2015). Assignment 1 published |
| 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 (individual assignment) due Monday 13 April 2015, 5pm. Assignment 2 published |
| 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 (group assignment) due on Monday 25 May 2015, 5pm |
| SWOT VAC | No formal assessment is undertaken in 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 learning system.
Examination (2 hours): 60%; In-semester assessment: 40%
| Assessment Task | Value | Due Date |
|---|---|---|
| Assignment 1 - Finance knowledge fundamental and analysis for DSS | 10% | Monday 13 April 2015, 5pm |
| Assignment 2 - Analytic Hierarchical / Analytic Network Process/ Value at risk | 20% | Monday 25 May 2015, 5pm |
| Continuous assessment of tutorial participation | 10% | At the end of each tutorial / lab class |
| Examination 1 | 60 % | To be advised |
Faculty Policy - Unit Assessment Hurdles (http://intranet.monash.edu.au/infotech/resources/staff/edgov/policies/assessment-examinations/assessment-hurdles.html)
Academic Integrity - Please see resources and tutorials at http://www.monash.edu/library/skills/resources/tutorials/academic-integrity/
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%)
2) Solution to investment portfolio to obtain optimum asset class allocation. (30%)
3) Discussion with interpretation of results and their implications. (30%)
4) Conclusion and recommendation of issues for further investigations. (10%)
The report will be graded according to the following criteria:
The tutor will monitor individual contributions when allocating marks to members of the group.
The tutor in charge will monitor individual's participation of activities i.e. continuous assessment of tutorial tasks inclusive of quizzes when allocating marks to each student.
Brigham, E. F. and Houston, J. F. (2012), Fundamentals of Financial Management (Concise 7th 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
Monash Library Unit Reading List (if applicable to the unit)
http://readinglists.lib.monash.edu/index.html
Types of feedback you can expect to receive in this unit are:
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.monash.edu.au/exams/special-consideration.html
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.
It is a University requirement (http://www.policy.monash.edu/policy-bank/academic/education/conduct/student-academic-integrity-managing-plagiarism-collusion-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 electronic submission). Please note that it is your responsibility to retain copies of your assessments.
If Electronic Submission has been approved for your unit, please submit your work via the learning system for this unit, which you can access via links in the my.monash portal.
Please check with your lecturer before purchasing any Required Resources. Limited copies of 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.
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: www.policy.monash.edu.au/policy-bank/academic/education/index.html
Important student resources including Faculty policies are located at http://intranet.monash.edu.au/infotech/resources/students/
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 http://www.monash.edu.au/students. For Malaysia 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, resources and programs that enable you to save time and be more effective in your learning and research. Go to www.lib.monash.edu.au or the library tab in my.monash portal for more information. At Malaysia, visit the Library and Learning Commons at http://www.lib.monash.edu.my/. At South Africa visit http://www.lib.monash.ac.za/.