MAA728 - Financial Behaviour and Decision Making
Unit details
Year: | 2021 unit information |
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Important Update: | Unit delivery will continue to be provided in line with the most current COVIDSafe health guidelines. This may include a mix of on-campus and online activities. To find out how you are impacted, please check your unit sites for announcements and updates. Unit sites open one week prior to the start of each Trimester/Semester. Thank you for your flexibility and commitment to studying with Deakin in 2021. Last updated: 4 June 2021 |
Enrolment modes: | Trimester 1: Burwood (Melbourne), Online Trimester 2: Online |
Credit point(s): | 1 |
EFTSL value: | 0.125 |
Previously coded as: | MAF714 |
Unit Chair: | Trimester 2: Campbell Heggen Trimester 1: Campbell Heggen |
Prerequisite: | Nil |
Corequisite: | Nil |
Incompatible with: | MAF714, MAI728 |
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: | Online independent and collaborative learning including 3 scheduled online workshops of 3 hours duration |
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 |
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ULO1 | Critically draw upon the theoretical knowledge of the psychology of client engagement in the financial services context to design effective strategies for engaging a variety of clients. | GLO1: Discipline-specific knowledge and capabilities |
ULO2 | Think critically to 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 |
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: Report (Business) (Individual or Group 2) | 3000 words | 30% | Week 6 |
Assessment 2: Part 1: Report (Research) (Individual) Part 2: Written Reflection (Self) (Individual) | Part 1: 1500 words. Part 2: 1000 | Part 1: 20% Part 2: 10% | Week 10 |
Assessment 3: Part 1: Video presentation (individual) | Part 1: 5 minutes Part 2: 2000 words | Part 1: 15% Part 2: 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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