Unit of competency Outline

Date retreived
22/07/2026 4:20 PM AWST

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Apply economic principles to work in the financial services industry

Apply economic principles to work in the financial services industry

Unit of competency
National Code
FNSINC601
State Code
AUR93
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
091901 - Economics
Original Release Date
16/09/2015
Nominal Hours
55
Description
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.
Notes
Elements and Performance Criteria
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 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
No information
No information
Replaces
State Code National Code Title Type
D4171 FNSINC601A Apply economic principles to work in the financial services industry Unit of competency
Replaced By
State Code National Code Title Type
OED10 FNSINC611 Apply economic principles to work in the financial services industry Unit of competency