Course code: 0180
Bachelor of Commerce (Honours)
Course code: 0181
Bachelor of Economics (Honours)
Course code: 0024
A fourth year honours specialisation is available to selected students who have completed one of the Bachelor of Accounting, Bachelor of Commerce or Bachelor of Economics courses at Monash University. Selected students who complete a combined degree with one of the Bachelor of Commerce or Bachelor of Economics also may proceed to the honours degree.
Department of Accounting and Finance
Accounting and finance specialisation
Students must have completed the first three years of one of the Bachelor of Accounting, Commerce or Economics courses and obtained results judged to be of a sufficient standard by the head of the Department of Accounting and Finance for permission to be given to proceed to the fourth-year honours subject. Students will normally have completed at least three subjects at third-year level chosen from: AAF3110 (Company law), AAF3120 (Advanced accounting), AAF3130 (Management accounting), AAF3140 (Business finance), AAF3150 (Income tax law), AAF3160 (Auditing and systems), AAF3170 (Management of financial intermediaries), and AAF3240 (International finance).
Students will be expected to have obtained at least credits in the third-year subjects taught by the Department of Accounting and Finance.
Students wishing to undertake fourth-year honours in the Department of Accounting and Finance must enrol for AAF4020 (Accounting honours). Such students must apply to, and have their enrolment approved by, the head of the Department of Accounting and Finance or the head's nominee.
The course comprises six subjects and a policy seminar. Two subjects may be special subjects which are based on the third-year subjects taught by the faculty supplemented by additional reading and research.
1 Three fourth-year level subjects selected from:
* AAF4100 Research methods in accounting and finance
* AAF4120 Financial accounting theory
* AAF4130 Management accounting
* AAF4140 Corporate financial theory
* AAF4150 Advanced taxation
* AAF4160 EDP audit
* AAF4170 Analysis of financial statements
* AAF4180 Securities regulation
In special circumstances, the head of the department may approve as one of the three core subjects a special subject
2 Three subjects selected from:
* the above subjects
* or from any of the fourth-year level subjects taught by the Departments of Economics or Econometrics (Clayton).
It is strongly recommended that students with only an elementary background in statistics should include AAF4100 if they intend to do AAF4130, AAF4140 or AAF4170.
In special circumstances a student may be given permission to include up to two subjects from another faculty, where they are complementary to the honours program offered by the Department of Accounting and Finance. Such a student would need to have the appropriate prerequisites and the head of the Department of Accounting and Finance would need to be satisfied that the subject formed a coherent part of the proposed subject of study.
3 Compulsory seminar:
* ECO4860 Policy seminar (for students enrolled in the Bachelor of Economics honours program)
or
* AAF4190 Accounting and Finance policy seminar (for students enrolled in the Bachelor of Accounting or Bachelor of Commerce honours programs).
Accounting/econometrics specialisation
Students must have completed the first three years of either the Bachelor of Economics or the Bachelor of Commerce courses and obtained results judged to be of sufficient standard for permission to be given by the heads of the Departments of Accounting and Finance and Econometrics to proceed to the fourth-year honours subject.
Students wishing to undertake fourth-year honours jointly in the Departments of Accounting and Finance and Econometrics must enrol for AAF4040 (Accounting/Econometrics honours). Such students must apply to, and have their enrolment approved by, both heads.
The course comprises six subjects and a policy seminar. Three subjects must be taken from each area of study except with the permission of the two heads.
1 Three subjects selected from:
* AAF4120 Financial accounting theory
* AAF4130 Management accounting
* AAF4140 Corporate financial theory
* AAF4150 Advanced taxation
* AAF4160 EDP audit
* AAF4170 Analysis of financial statements
* AAF4180 Securities regulation
Only one special subject may be counted as one of the three core subjects.
2 Three subjects selected from:
* ECM4400 Econometric theory
* ECM4410 Applied econometrics
* ECM4420 Microeconometrics
* ECM4430 Quantitative economic policy
* ECO4850 Mathematical economic theory
Only one special subject may be counted as one of the three core subjects.
3 Compulsory seminar:
* ECO4860 Policy seminar (for students enrolled in the Bachelor of Economics honours program)
or
* AAF4190 Accounting and finance policy seminar
or
* ECM4490 Econometrics policy seminar.
Students enrolled in the Bachelor of Commerce honours program may choose to attend either AAF4190 or ECM4490.
Department of Econometrics
Econometrics specialisation
Students must have completed the first three years of the Bachelor of Economics or Bachelor of Commerce courses and obtained results judged to be of satisfactory standard for permission to be given by the head of the Department of Econometrics to proceed to the fourth-year honours subject. Students will be expected to have achieved at least third class honours standard in the third-year honours program. Students who have not completed ECM3470 and who have obtained at least a credit standard in the appropriate third-year subjects, normally ECM3400 and ECM3410, may be considered for fourth-year honours in special circumstances. These students will be expected to complete additional work during either the long vacation or the fourth-year honours subject.
Students wishing to undertake fourth-year honours in the Department of Econometrics must enrol for ECM4020 (Econometrics honours). Such students must apply to, and have their enrolment approved by, the head of the Department of Econometrics.
The course comprises six subjects and a policy seminar.
1 Three subjects from the following list, including at least one of ECM4400 or ECM4410
* ECM4400 Econometric theory
* ECM4410 Applied econometrics
* ECM4420 Microeconometrics
* ECM4430 Quantitative economic policy
* ECM4480 Optimisation for management
* ECO4850 Mathematical economic theory
* ECM3430 Applied econometric modelling
* ECM3450 Time series analysis for business and economics
* ECM3460 Financial econometrics
* ECM3480 Decision analysis for managers
Only one special subject may be counted as one of the three core subjects. Special subjects are based on the third-year subjects, supplemented by additional supervised work. Such special subjects may be included only if the subject has not been taken in third year.
2 Three subjects selected from the preceding subjects or from third- or fourth-year subjects offered by the departments of Accounting and Finance, Econometrics, Economics and Mathematics.
Up to two subjects may be special subjects. In some circumstances a student may be given permission to include as a subject a fourth-year subject from a department outside the faculty. Such a student would need to have the appropriate prerequisites and the head of the Department of Econometrics would need to be satisfied that the subjects formed a coherent part of the proposed subject of study.
3 Compulsory seminar:
* ECO4860 Policy seminar (for students enrolled in the Bachelor of Economics or Commerce honours programs)
or
* ECM4490 Econometrics policy seminar (Any Bachelor of Commerce honours student who considers that attendance at the econometrics honours research seminar would be more appropriate should apply to the head of the Department of Econometrics for permission to do so.)
Department of Economics
Students must have completed the first three years of either the Bachelor of Economics or Bachelor of Commerce courses and achieved at least third class honours standard in the third-year honours program. Students who have not taken ECO3850 or ECO3580 but who have obtained results judged to be of a sufficient standard by the head of the Department of Economics, or by the heads of Economics and Econometrics in the case of students wishing to proceed to joint honours, for permission to be given to proceed to the fourth-year honours subject are required to complete additional work during the long vacation preceding their fourth year.
Economics specialisation
Students wishing to undertake fourth-year honours in the economics specialisation must enrol in ECO4020 (Economics honours), and have their enrolment approved by the head of the Department of Economics.
The course comprises six subjects plus the policy seminar as follows:
1 Two core subjects:
* ECO4650 Microeconomic theory and
* ECO4660 Macroeconomic theory
2 Four subjects selected from:
* ECM4430 Quantitative economic policy
* ECO4690 International economics and development
* ECO4700 Restrictive trade practices
* ECO4710 Post-Keynesian economics
* ECO4720 Law and economics
* ECO4740 Agricultural economic development
* ECO4780 Applied urban analysis
* ECO4800 History of economic doctrine
* ECO4810 Aspects of tax policy
* ECO4820 Contemporary economic systems
* ECO4840 Industrial organisation
* ECO4850 Mathematical economic theory
* ECO4870 Health economics
* one special subject based on a third-year subject not already taken in third year;
* subjects drawn from the Master of Economics program provided the appropriate prerequisites are satisfied and with permission of the head of department;
* not more than two fourth-year subjects in economic history or taught by the departments of Accounting and Finance and Econometrics, not listed above;
* in special circumstances, a fourth-year subject from other departments (eg history, law, mathematics or politics), provided that the appropriate prerequisites are met and the head of the Department of Economics is satisfied that the subject forms a coherent part of the proposed course of study.
3 Policy seminar:
* ECO4860 Policy seminar
Economic history specialisation
Students enrol in six subjects plus a policy seminar. Four subjects are to be economic history subjects. The remaining two subjects may be selected from other economic history subjects or from the departments of Accounting and Finance, Econometrics or Economics.
1 Core subject:
* ECO4530 Economic history
2 Five subjects selected from:
* ECO4510 Economic history of modern Europe
* ECO4520 Research essay (double subject)
* ECO4540 History of economy and environment
* ECO4550 Population and development
* HSY4050 Melbourne since world war II
* MBA6550 Strategy and structure
* one special subject based on the third-year subjects taught by the faculty, supplemented by additional reading and research;
* in special circumstances, a fourth-year subject from (eg history, law, mathematics or politics), provided that the appropriate prerequisites are met and the coordinator of economic history is satisfied that the subject forms a coherent part of the proposed course of study.
3 Policy seminar:
* ECO4860 Policy seminar
Economics/Econometrics specialisation
Students wishing to undertake fourth-year honours jointly in economics and econometrics should enrol for ECO4040 (Economics/econometrics). Such students must have their enrolment approved by the heads of the departments.
The course comprises six subjects and the policy seminar:
1 Two core subjects:
* ECO4650 Microeconomic theory or ECO4660 Macroeconomic theory
* ECM4400 Econometric theory or ECM4410 Applied econometrics
2 Two subjects selected from the following:
* ECM4420 Microeconometrics
* ECM4430 Quantitative economic policy
* ECO4690 International economics and development
* ECO4700 Restrictive trade practices
* ECO4710 Post-Keynesian economics
* ECO4720 Law and economics
* ECO4740 Agricultural economic development
* ECO4780 Applied urban analysis
* ECO4800 History of economic doctrine
* ECO4810 Aspects of tax policy
* ECO4820 Contemporary economic systems
* ECO4850 Mathematical economic theory
* ECO4870 Health economics
3 Two subjects:
* one or both may be selected from the preceding list, with the approval of the heads of the departments of Econometrics and Economics;
* one or both may be special subjects based on the third-year subjects taught by the Department of Econometrics and/or the Department of Economics, supplemented by additional supervised work and provided that the subject has not been taken in third year;
* one or both may be drawn from the Master of Economics program provided that the appropriate prerequisites have been satisfied;
* one may be selected from subjects taught by the Department of Accounting and Finance or, in special circumstances, from another department (eg Business Systems, Mathematics or Politics), provided that the appropriate prerequisites are met and the heads of the departments are satisfied that the subject forms a coherent part of the proposed course of study.
4 Policy seminar:
* ECO4860 Policy seminar
Department of Management
Management specialisation
Students must have completed the first three years of the Bachelor of Commerce course and need to have completed a major in management, with at least three third-year management subjects passed at credit standard or above. Students who wish to enrol in the honours program will require the approval of the Head of Department of Management. In selecting students for entry to the program, the results of all undergraduate subjects will be taken into account.
The honours year comprises both subjects and a research project. Assigned work in the subjects lead directly into the research component. Upon completion of the subjects students should have completed a research proposal, established a theoretical framework, completed a literature review, and identified and tested appropriate data analytic techniques. Teaching methods will vary according to the specific aims of the course components. Subjects aimed at developing research methodology skills will contain a combination of lectures designed to develop an understanding of critical issues in research methodology, and workshops designed to train students in research skills and techniques. Analytic/theoretical subjects will be based upon weekly seminars organised around classical and contemporary contributions to theory in the field, and will focus on the relationship between conceptual/theoretical frameworks and research practice. The thesis component will comprise individual supervision. The course is designed to optimise the pedagogical value of a research project. The basic logic of the course revolves around course work that prepares students to undertake an appropriate research project, and a thesis in which students apply and extend those skills to address a substantive research problem.
Assessment will include written assignments, examinations, class presentations and a thesis. Details are available from the Department of Management.