MAA728 - Financial Behaviour and Decision Making
Unit details
| Year: | 2024 unit information |
|---|---|
| Enrolment modes: | Trimester 1: Online Trimester 2: Online |
| Credit point(s): | 1 |
| EFTSL value: | 0.125 |
| Previously coded as: | MAF714 |
| Unit Chair: | Trimester 1: Campbell Heggen Trimester 2: Campbell Heggen |
| Prerequisite: | Nil |
| Corequisite: | Nil |
| Incompatible with: | MAI728, MAF714 |
| Typical study commitment: | Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit. This will include educator guided online learning activities within the unit site. |
| Educator-facilitated (scheduled) learning activities - on-campus unit enrolment: | 1 x 3 hour on-campus seminar (recordings provided) each week |
| Educator-facilitated (scheduled) learning activities - online unit enrolment: | 1 x 1.5 hour recorded lecture and 1 x 1.5 hour online seminar (recordings provided) each week |
Note:How to apply Submit your application online via the Deakin course and scholarship applicant portal. For support on your application process, book a one-on-one consultation with a student adviser. Current Deakin students can enrol directly via StudentConnect. | |
Content
The Financial Planning professional must be able to build a deep understanding of their client’s needs and be able to anticipate issues many clients may have not even considered. This unit builds on the technical knowledge acquired in other units, to broaden students understanding of the professional skills and knowledge required to manage long-term client relationships, and develop comprehensive understanding of clients’ needs in order to formulate strategies and solutions that are in the client’s best interest.
Drawing on insights from the behavioural sciences, this unit requires students to develop strategies to build trust, communicate the value of advice, and engage clients at each stage of the financial planning process. Students will be introduced to the field of behavioural finance, to develop an understanding of factors that influence financial behaviour and decision making and approaches to positively influence behavioural change.
| ULO | These are the Learning Outcomes (ULO) for this unit. At the completion of this unit, successful students can: | Deakin Graduate Learning Outcomes |
|---|---|---|
| ULO1 | Design effective strategies for engaging a variety of clients. | GLO1: Discipline-specific knowledge and capabilities |
| ULO2 | Solve communication problems and communicate effectively (verbal and non-verbal) with clients and peers. | GLO2: Communication |
| ULO3 | Apply knowledge of behavioural biases individuals may exhibit and explain strategies to mitigate the impact of these biases on financial decision making. | GLO1: Discipline-specific knowledge and capabilities |
Assessment
| Assessment Description | Student output | Grading and weighting (% total mark for unit) | Indicative due week |
|---|---|---|---|
| Assessment 1: (Individual or Group 2) Report (Business) | 3000 words | 30% | Week 7 |
| Assessment 2: (Individual) | Part A: 1500 words | Part A: 20% | Week 10 |
| Assessment 3: (Individual) | Part A: 5 minutes Part B: 2000 words | Part A: 15% | Week 11 |
The assessment due weeks provided may change. The Unit Chair will clarify the exact assessment requirements, including the due date, at the start of the teaching period.
Learning Resource
The texts and reading list for the unit can be found on the University Library via the link below: MAA728. Note: Select the relevant trimester reading list. Please note that a future teaching period's reading list may not be available until a month prior to the start of that teaching period so you may wish to use the relevant trimester's prior year reading list as a guide only.
Unit Fee Information
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