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.

Unit details

Study level:
Vocational and further education (TAFE)
Unit code:
FNSINC601

Assessment

Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit's learning outcomes and performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines. Students will be expected to demonstrate the following required skills: - research economic trends, evaluate impacts, and access and interpret corporate regulations; - analyse and apply a range of financial modelling techniques and tools, and; - 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.Students will also be expected to demonstrate the following knowledge: - 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, and; - describe the economic and political climate relating to the financial services industry.

Where to next?

As part of a course

This unit is studied as part of the following courses. Refer to the course page for information on how to apply for the course.

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