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MAA728 - Financial Behaviour and Decision Making

Year:	2022 unit information
Enrolment modes:	Trimester 1: Online
Credit point(s):	1
EFTSL value:	0.125
Previously coded as:	MAF714
Unit Chair:	Trimester 1: 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.
Scheduled learning activities - campus:	1 x 3 hour seminar per week
Scheduled learning activities - cloud:	1 x 1 hour seminar plus online independent and collaborative learning activities per week.
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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 GLO5: Problem solving
ULO2	Solve communication problems and communicate effectively (verbal and non-verbal) with clients and peers	GLO2: Communication GLO5: Problem solving
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 GLO4: Critical Thinking GLO5: Problem solving

These Unit Learning Outcomes are applicable for all teaching periods throughout the year

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: Report (Research) Part B: Written Reflection (Self)	Part A: 1500 words Part B: 1000	Part A: 20% Part B: 10%	Week 10
Assessment 3: (Individual) Part A: Video presentation Part B: Report (Research)	Part A: 5 minutes Part B: 2000 words	Part A: 15% Part B: 25%	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

There is no prescribed text. Unit materials are provided via the unit site. This includes unit topic readings and references to further information.

Unit Fee Information

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