Unit of competency Outline

Date retreived
23/07/2026 1:43 AM 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
FNSINC611
State Code
OED10
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
15/06/2022
View on TGA
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
091901 - Economics
Original Release Date
07/12/2022
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 that 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.The unit applies to individuals who have understand economics and how it impacts work in the financial services industry. The skills and knowledge described in this unit also underpin 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. Identify economic principles that impact work
  • 1.1 Develop knowledge of economic principles relevant to industry and own role
  • 1.2 Develop knowledge of microeconomic theory and influences on financial products and services that relate to tasks within own role
  • 1.3 Identify capital adequacy regulation and requirements applicable to work functions
2. Use knowledge of economic principles in work
  • 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
  • 2.4 Evaluate own work in context of relevant economic principles
3. Review work and maintain understanding of economic principles
  • 3.1 Research current economic theories and their impact on the industry and confirm relevant current knowledge
  • 3.2 Evaluate own work in context of relevant economic principles
  • 3.3 Integrate contemporary economic principles into work practices
No information
No information
Replaces
State Code National Code Title Type
AUR93 FNSINC601 Apply economic principles to work in the financial services industry Unit of competency
State Code National Code Title Type
BHX1 FNS50222 Diploma of Accounting Qualification
BHW9 FNS60222 Advanced Diploma of Accounting Qualification