please follow instruction strictly and check all the file attached. there is some note need to be use. its very important
FNSINC601 Apply economic principles to work in the financial services industry FNSINC601 Apply economic principles to work in the financial services industry Release: 1 FNSINC601 Apply economic principles to work in the financial services industry Date this document was generated: 6 September 2018 Approved Page 2 of 4 © Commonwealth of Australia, 2018 PwC’s Skills for Australia FNSINC601 Apply economic principles to work in the financial services industry Modification History Release Comments Release 1 This version first released with FNS Financial Services Training Package Version 1.0. Application 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. No licensing, legislative or certification requirements apply to this unit at the time of publication. Unit Sector Industry capability Elements and Performance Criteria ELEMENT PERFORMANCE CRITERIA Elements describe the essential outcomes. Performance criteria describe the performance needed to demonstrate achievement of the element. 1. Apply economic principles and theories 1.1 Develop and apply knowledge of economic principles relevant to the industry 1.2 Apply microeconomic theory of markets and influences on FNSINC601 Apply economic principles to work in the financial services industry Date this document was generated: 6 September 2018 Approved Page 3 of 4 © Commonwealth of Australia, 2018 PwC’s Skills for Australia ELEMENT PERFORMANCE CRITERIA financial products and services to determine structure of organisation 1.3 Apply capital adequacy regulation and requirements to work functions 2. Evaluate economic aspects that apply to decision making 2.1 Apply relevant financial modelling techniques to economic data to inform decision making 2.2 Analyse and apply appropriate asset pricing models 2.3 Apply models to determine organisational value in relation to capital structure 3. Review own work 3.1 Evaluate own work in context of relevant economic principles 3.2 Improve performance through understanding of how economics applies to own decision making 4. Maintain personal understanding of economic policies 4.1 Research current economic theories and their impact on the industry to ensure relevant current knowledge 4.2 Integrate contemporary economic principles into work practices Foundation Skills This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance. Skill Performance Criteria Description Reading 1.1, 1.2, 2.1, 2.2, 4.1 Critically analyses complex documentation from a variety of sources, and consolidates information relating to specific criteria to assist in making high level business and organisational decisions Numeracy 2.2, 2.3 Performs mathematical calculations to analyse financial information, costs and values for pricing models and capital structure Navigate the world of work 1.3, 3.1, 3.2, 4.1 Works autonomously, making high level decisions to achieve and improve organisational goals Monitors and reviews organisational policy, procedures and adherence to legislative requirements to implement and manage change Ensures knowledge of products, legislation, regulations FNSINC601 Apply economic principles to work in the financial services industry Date this document was generated: 6 September 2018 Approved Page 4 of 4 © Commonwealth of Australia, 2018 PwC’s Skills for Australia and standards relevant to role is accurate, comprehensive and current Get the work done 1.1, 1.2, 1.3, 2.1, 2.2, 2.3, 4.2 Plans strategic priorities and outcomes within a flexible, efficient and effective context in a diverse environment exposed to competing demands Identifies key factors that impact on decisions and their outcomes, drawing on experience, competing priorities and decision-making strategies where appropriate Explores and incubates new and innovative ideas through unconstrained analysis and critical thinking to develop and improve organisational goals Uses the main features and functions of digital tools to complete work tasks and access information Unit Mapping Information Code and title current version Code and title previous version Comments Equivalence status FNSINC601 Apply economic principles to work in the financial services industry FNSINC601A Apply economic principles to work in the financial services industry Updated to meet Standards for Training Packages. Minor edits to clarify performance criteria. Equivalent unit Links Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd 6f102fe FNSINC601 Apply economic principles to work in the financial services industry Modification History Application Unit Sector Elements and Performance Criteria Foundation Skills Unit Mapping Information Links