General
The Bachelor of Commerce degree provides coherent sequences of subjects in the areas of accounting and finance, quantitative studies, management studies and economics. An introduction to all of these areas is available in the first year of the degree with accounting, economics and quantitative studies being required subjects, and management studies being available as an optional fourth subject area. There also will be opportunities for combinations with economic history and with subjects offered outside the faculty, including languages. Students who wish to take the full number of subjects required for professional accreditation in accounting are able to do so.
Course objectives
On completion of the Bachelor of Commerce degree students should:
* have an understanding of the issues underlying major corporate, government and economic policies and an ability to appraise the implications of those major policy decisions in the context of the Australian and international environments;
* have developed certified analytical and technical skills to assist with solving problems that may arise in their future careers in business, the public sector and the professions;
* have a continuing commitment to and capacity for independent critical thought and further learning;
* have a critical understanding of the operations of business, government and the economy, and the management of these for the benefit of society;
* be able to communicate effectively, both orally and in writing, in their areas of expertise;
* have developed basic skills in economic analysis, quantitative and computer methods, accounting principles and management;
* have a specialised level of skills and knowledge in one or more of the disciplines taught within the faculty - accounting, finance, econometrics, economic history, economics and management;
* have had the opportunity to develop the skills, knowledge and motivation necessary for postgraduate study and research;
* have satisfied the membership requirements of the Australian Society of Certified Practising Accountants, the Institute of Chartered Accountants in Australia, the Australian Institute of Bankers and the Institute of Chartered Secretaries and Administrators, provided the appropriate selections of subjects were chosen.
Course structure
The pass degree requires the satisfactory completion of twenty-four subjects, or subjects to the value of a total of 144 credit points, over a minimum of three full-time years or a maximum of eight years of study. Students may include in their degree subjects to the value of thirty-six credit points from disciplines outside the faculty, normally on the basis of twelve credit points at each year level. All first, second and third-year subjects offered by the Faculty of Business and Economics (Clayton) have a credit value of six points. Full-time students are expected to progress at the rate of eight subjects or forty-eight credit points per year. First-year students normally may not take a second-year subject until at least four first-year subjects have been completed successfully. It should be noted that subjects in the later years of the course have prerequisites and corequisites. In addition, students are expected to take subjects in a yearly sequence even if there are no prerequisite subjects specified. The course structure is shown in chart 2 in the section `Charts of degree structures'.
First year
The first year of the degree will comprise eight semester subjects totalling forty-eight credit points, of which the following shall be compulsory:
* ECO1000 (Economics) and ECO1010 (Economics)
* ECM1020 and ECM1031/2 (Business and economic statistics)
* AAF1021/2 and AAF1031/2 (Accounting)
The remaining two semester subjects may be selected from the departments of Management or Economics or from another faculty. This enables students to complete substantial work in a related field such as management studies, economic history, or in another field such as a language.
A student who wishes to specialise in management studies should take the two first-year subjects MGC1020 (Introduction to management) and MGC1030 (Organisational behaviour).
Second year
The structure of the second and third years of the degree is identical. Each year comprises eight semester-length subjects, or the equivalent of forty-eight credit points.
To maintain a coherent course structure, subjects may be selected from three categories: major specialisation (category A), supporting studies (category B) and electives (category C). Category A subjects represent a specialised sequence of study; students must select a specialisation from one of the departments of Accounting and Finance, Econometrics, Economics, or Management for this category. This specialisation will then be followed throughout the second and third years of the course. For the area of specialisation (category A), students are required to choose between three and five second-year subjects, or subjects with a total credit value between eighteen and thirty points. (Whilst each subject offered by the Faculty of Business and Economics (Clayton) has a points value of six, the points value of subjects taken from other faculties may vary, and where this occurs, students must complete the minimum number of points rather than the number of subjects recommended.)
Supporting studies (category B) subjects comprise subjects offered by the Faculty's departments on the Clayton campus from areas other than category A. Depending on the selection of the specialisation, supporting studies subjects might be accounting and finance, management studies, economics, or quantitative studies, any two of which may be from first year subjects. Between two and four second-year subjects, or subjects with a credit value of between twelve and twenty-four points, must be selected from this category, although normally a maximum of two subjects from any one area can be chosen.
Elective subjects (category C) comprise subjects from other faculties and students may include up to two subjects, or subjects with a credit value of a maximum of twelve points, in this category. If desired, it is possible to substitute up to two first-year subjects for second-year subjects in this category, although students may only include a total of two first-year subjects to the value of twelve points in the second year program overall.
In summary form the structure of second year is:
* Major specialisation (Category A): Three to five second year level subjects, to the value of eighteen to thirty credit points. One specialisation can be chosen from the departments of Accounting and Finance, Economics, Econometrics (Clayton) or Management.
* Supporting studies (Category B): Two to four second year level subjects, to the value of twelve to twenty-four points. Subject areas from those listed above but not from the area chosen for specialisation. Normally a maximum of two subjects from one subject area.
* Electives (Category C): Zero to two second year level subjects, to the value of a maximum of twelve points, in subject areas from those offered by other faculties.
In the case of supporting studies or electives, either category B or C, two first-year subjects to the value of twelve credit points can be substituted for two-second year subjects.
Students must have their program of study approved by the dean or the dean's nominee.
Third year
The same structure as in second year will apply in third year. Students will, for the major specialisation subjects, select third-year subjects valued between eighteen and thirty points (normally three to five subjects) from the area of specialisation chosen in second year. Supporting studies subjects are to be chosen from third-year subjects offered by the departments of Accounting and Finance, Economics, Econometrics (Clayton) and Management, but excluding the area of specialisation. Students may select third-year subjects up to the value of twelve points from subjects offered by other faculties for their electives. Students should refer to the summary structure for second year for further detail. As in first and second year, students must have their program of study approved by the dean or the dean's nominee prior to commencement of the relevant year.
Progression to Bachelor of Commerce (Honours)
Students whose academic performance is considered of sufficient standard may complete a fourth year in one of the specialisations of accounting and finance, economics, economic history, econometrics or management and be awarded the Bachelor of Commerce degree with honours. It is also possible to undertake a joint fourth-year honours course in either the departments of Accounting and Finance and Econometrics, or the departments of Economics and Econometrics.
It should be noted that the honours year is usually required to be undertaken on a full-time basis, but the head of the department may give permission for the year to be completed on a part-time basis in certain circumstances.
First and second year
The selection of subjects in first and second year is the same as for the pass degree. Students wishing to attempt an honours degree should normally have gained at least credit grades in the subjects taught by the department in which they intend to take honours. Students who do not obtain credits in the first year of the course but who obtain a credit average in second year may also be considered for honours candidature.
Third year
In their third year of full-time study students will be required to select a third-year honours specialisation. Students who wish to enrol in one of the honours courses should apply to the head of the department concerned at the time of re-enrolment. Some departments require students to enrol in an additional, unweighted honours subject.
* Accounting and Finance: No special third-year honours subject. Students who are likely to proceed to fourth-year honours are invited to attend separate honours tutorials in their main third-year accounting subjects.
* Econometrics: Students must take at least three third-year econometrics subjects plus the third-year honours subject ECM3470 (Econometrics (pre-honours)). Students should normally include ECM3400 and ECM3410. The other appropriate third-year subjects are ECM3430, ECM3450, ECM3460 and ECM3480.
* Economic History: Students must take at least three third-year economic history subjects plus the third-year honours subject EC03580 (Economic history (honours)).
* Economics: Students must take at least four third-year economics subjects, including ECO3855 (Topics in economics), plus the third-year honours subject ECO3850 (Economics (honours)).
* Management: prospective students in management studies need to pursue a major in management passed at a credit or higher standard.
Students who have not completed an honours subject in third year will be required to do additional work over the vacation period prior to entering the fourth-year honours course.
For specific information on the structure and requirements of the honours specialisations available in the departments of Accounting and Finance, Economics, Econometrics and Management please see the section `Honours degrees' at the end of this chapter.