Finance

PRINCIPLES OF FINANCE

ASSESSED COURSEWORK ASSIGNMENT

Year                                                         2017–2018

Date for Submission                                17Th February 2018

Assessment Instruction

Assessed coursework must represent the work of individual students and references to published works must be cited.  Plagiarism constitutes an examination offence and if discovered will render a student(s) liable to the appropriate provisions of the University’s Examination Regulations.

COURSEWORK ASSIGNMENT TOPIC

`Technical analysis, the prediction of price movements based on past price movements, has been shown to generate statistically significant profits despite its incompatibility with most economists’ notions of efficient markets”.’    

(from ‘Head and Shoulders: Not Just a Flaky Pattern’, Federal Reserve Bank of New York, C.L. Osler and P.H. Kevin Chang, Staff Report No. 4, August 1995)

YOU ARE REQUIREDto critically discuss the above statement with reference to technical analysis and Efficient Market Hypothesis and use of the recent articles from academic journals.

Students will be expected to research the topic themselves and provide a well-argued essay addressing the topic.

Maximum words:         2,000 (excluding appendices)

Coursework Marking Criteria

Your coursework will be awarded a grade in accordance with the following criteria:

A good assignment will:

(i)        be clearly and appropriately structured;

(ii)        demonstrate a good understanding of the issues involved;

(iii)        put forward all the relevant arguments in a logical format;

(iv)        show evidence of original thinking and research into the topic

(all references should be properly acknowledged);

(v)        use language in a precise and concise manner.

University Grading Scheme for Undergraduate Programmes: 2017/18

Marking criteria

Letter grade

Mark recorded

Work showing evidence of:

Work which fulfils all the criteria of the grade below, but at an exceptional standard.

A+

95

Work showing evidence of:
Work of distinguished quality which is based on a rigorous and detailed knowledge base, including major theories of the discipline(s) and awareness of the variety of ideas, contexts and frameworks and wider implications.  Work will demonstrate sustained ability to analyse, synthesise, evaluate and interpret concepts, principles and data within field of study in a considered manner, as well as to develop convincing arguments and judgements appropriate to the field of study/ assessment task.  There will be strong evidence of competence across a range of specialised skills using them to plan, develop and evaluate problem solving strategies, to challenge received opinion and develop own judgements. Clear evidence of capability to operate autonomously and self-evaluate in situations of varying complexity and predictability, but within defined guidelines will be demonstrated. Outputs will be communicated effectively, accurately and reliably.

A

85

Work showing evidence of:
Work of very good quality which displays most but not all of the criteria for the grade above.

A-

75

Work showing evidence of:
Work of highly commendable quality which clearly fulfils the criteria for the grade below, but shows a greater degree of capability in relevant intellectual/subject/key skills.

B+

67

Work showing evidence of:
Work of commendable quality based on a strong detailed knowledge base for the field of study, including an assured grasp of concepts, principles and major theories, together with effective deployment of skills relevant to the discipline and assessment task.  There will be evidence of considered analysis, synthesis, evaluation and application, and the ability to work effectively with minimum direction to meet defined objectives and develop own judgements.  There will be consistent evidence of capability in all relevant subject based and key skills, including the ability to self-evaluate and work autonomously with minimal direction to use effectively a range of techniques in situations of varying complexity and predictability.

B

63

Work showing evidence of:
Work which clearly fulfils all the criteria of the grade below, but shows a greater degree of capability in relevant intellectual/subject/key skills. Some understanding which goes beyond average but lower than

C+

57

Work showing evidence of:
Work of sound quality based on a firm factual/ conceptual knowledge base for the field of study, including a good grasp of relevant theories, together with the ability to organise and communicate effectively.  The work may be rather standard and limited in its theoretical grasp, but will be mostly accurate and provide some evidence of the ability to analyse, synthesise, evaluate and apply standard methods/techniques, with minimal guidance. There will be no serious omissions or inaccuracies.  There will be good evidence of ability to take responsibility for own learning, some capability to challenge received opinion and form own judgements.  Evidence of the ability to operate with increased autonomy in situations of varying complexity and predictability, selecting and applying appropriate techniques will be demonstrated within limits. There will be competence in relevant key skills. Some average understanding of the issues required by the assignment.

C

53

Work showing evidence of:
Work of satisfactory quality demonstrating a reliable knowledge base and evidence of developed key skills and/or subject based skills, but still containing limited evidence of analysis, synthesis, evaluation or application, or of appropriate detail or skill application. Some lower level understanding above the basic level

D+

47

Work showing evidence of:
Work of bare pass standard demonstrating some familiarity with and grasp of a factual/conceptual and theoretical knowledge base for the field of study, together with evidence of some ability to employ specialist skills to solve problems required by the assignment, but only just meeting threshold standards in areas like evaluation and interpretation of the information, reasoning and soundness of judgment, communication, application, or quality of outputs. Work may be characterised by some significant errors, omissions, limitations or problems Some basic understanding of a minimum pass standard.

D

43

Work showing evidence of:
Work that falls well short of the threshold standards in relation to one or more area of knowledge, intellectual, subject based or key skills. It may address the assessment task to some extent, or include evidence of successful engagement with some of the subject matter, but such satisfactory characteristics will be clearly outweighed by major deficiencies across remaining areas. Some understanding but not enough to attain a minimum pass mark.

E

37

Work showing evidence of:
Work of poor quality which is based on only minimal understanding, application or effort. It will offer only very limited evidence of familiarity with knowledge or skills appropriate to the field of study or task and/or demonstrate inadequate capability in key skills essential to the task concerned.. Only of little understanding of the issues at stake in the assignment

F

23

Fail (non-submission)

NS

0

Damodaran, A., 2016. Damodaran on valuation: security analysis for investment and corporate finance. New Jersey: John Wiley & Sons.

Vernimmen, P., Quiry, P., Dallocchio, M., Le Fur, Y. and Salvi, A., 2014. Corporate finance: theory and practice. New Jersey: John Wiley & Sons.

Gullifer, L. and Payne, J., 2015. Corporate finance law: principles and policy. London>: Bloomsbury Publishing.

Frino, A., Hill, A. and Chen, Z., 2015. Introduction to corporate finance. Australia: Pearson Higher Education AU.

Ballings, M., Van den Poel, D., Hespeels, N. and Gryp, R., 2015. Evaluating multiple classifiers for stock price direction prediction. Expert Systems with Applications, 42(20), pp.7046-7056.

Ghosh, S. and Kanjilal, K., 2016. Co-movement of international crude oil price and Indian stock market: Evidences from nonlinear cointegration tests. Energy Economics, 53, pp.111-117.

Ahmar, A.S., Rahman, A., Arifin, A.N.M. and Ahmar, A.A., 2017. Predicting movement of stock of “Y” using Sutte indicator. Cogent Economics & Finance, 5(1), p.1347123.

Qiu, M. and Song, Y., 2016. Predicting the direction of stock market index movement using an optimized artificial neural network model. PloS one, 11(5), pp.133-155.

https://www.stocktrader.com/2009/05/04/predicting-stock-market-trends-rules/

https://www.stocktrader.com/2009/04/27/reading-stock-charts-technical-analysis-explained/

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