1999 Business and Economics Handbook

Honours degrees

Bachelor of Accounting (Honours) - BAcc(Hons)
Bachelor of Commerce (Honours) - BCom(Hons)
Bachelor of Economics (Honours) - BEc(Hons)
Department of Accounting and Finance
- Accounting and finance specialisation
- Accounting/econometrics specialisation
Department of Econometrics and Business Statistics
- Econometrics specialisation
Department of Economics
Department of Management
- Management specialisation

Bachelor of Accounting (Honours) - BAcc(Hons)

Course code: 0180

Bachelor of Commerce (Honours) - BCom(Hons)

Course code: 0181

Bachelor of Economics (Honours) - BEc(Hons)

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 double degree with either the Bachelor of Commerce or the 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 BTC3110 (Australian company law), BTC3113 (Malaysian company law), AFC3120 (Advanced financial accounting), AFC3130 (Advanced management accounting), AFC3140 (Advanced business finance), BTC3150 (Australian income tax law), BTC3153 (Malaysian income tax law), AFC3160 (Auditing and systems), AFC3170 (Management of financial intermediaries), and AFC3240 (International finance).
Students will be expected to have obtained an average of at least 65 per cent 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 AFC4020 (Accounting and finance 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 the issues 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. These special subjects are listed among the third-year subjects and have a subject code ending with the digit '4' (eg AFC3134 Advanced financial accounting).
1 Three fourth-year level subjects selected from:

AFC4100 Research methods in accounting and finance
AFC4120 Financial accounting theory
AFC4130 Management accounting
AFC4140 Corporate financial theory
BTC4150 Advanced taxation
AFC4160 Issues in auditing
AFC4170 Analysis of financial statements
BTC4180 Securities regulation
AFC4200 Research papers in accounting and finance

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 and Business Statistics (Clayton).

It is strongly recommended that students with only an elementary background in statistics should include AFC4100 if they intend to do AFC4130, AFC4140 or AFC4170.
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 contributed to a coherent program of study.
3 Compulsory seminar:

AFC4860 Economics and commerce issues seminar

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 and Business Statistics to proceed to fourth-year honours.
Students wishing to undertake fourth-year honours jointly in the Departments of Accounting and Finance and Econometrics and Business Statistics must enrol for AFC4040 (Accounting/Econometrics honours). Such students must apply to, and have their enrolment approved by, both heads.
The course comprises six subjects and the issues seminar. Three subjects must be taken from each area of study except with the permission of the two heads.
1 Three subjects selected from:

AFC4120 Financial accounting theory
AFC4130 Management accounting
AFC4140 Corporate financial theory
BTC4150 Advanced taxation
AFC4160 Issues in auditing
AFC4170 Analysis of financial statements
BTC4180 Securities regulation

ETC4400 Econometric theory
ETC4410 Applied econometrics
ETC4420 Microeconometrics
ETC4430 Quantitative economic policy
ECC4850 Mathematical economic theory

Only one special subject may be counted as one of the three core subjects. These special subjects are listed among the third-year subjects and have a subject code ending the digit '4'.
3 Compulsory seminar:

AFC4860 Economics and commerce issues seminar

Department of Econometrics and Business Statistics

Econometrics specialisation

Students must have completed the first three years of the Bachelor of Economics, Bachelor of Commerce or Bachelor of Commerce (Business Statistics) courses and obtained results judged to be of satisfactory standard for permission to be given by the head of the Department of Econometrics and Business Statistics to proceed to the fourth-year honours subject. Students will be expected to have achieved an average grade of 65 per cent or above in the third-year honours program. Students who have not completed ETC3470 and who have obtained at least a credit standard in the appropriate third-year subjects, normally ETC3400 and ETC3410, 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 and Business Statistics must enrol for ETC4020 (Econometrics honours). Such students must apply to, and have their enrolment approved by, the head of the Department of Econometrics and Business Statistics.
The course comprises six subjects and ETC4860 (Economics and commerce issues seminar).
1 Three subjects from the following list, including at least one of ETC4400 or ETC4410

ETC4400 Econometric theory
ETC4410 Applied econometrics
ETC4420 Microeconometrics
ETC4430 Quantitative economic policy
ETC4480 Optimisation for management
ECC4850 Mathematical economic theory
ETC3434 Applied econometric modelling
ETC3454 Time series analysis for business and economics
ETC3464 Financial econometrics
ETC3484 Decision analysis for managers
ETC3504 Survey data analysis

Only one special subject may be counted as one of the three core subjects. These special subjects are listed among the third-year subjects and have a subject code ending with the digit '4'.
2 Three subjects selected from the preceding subjects or from third- or fourth-year subjects offered by the departments of Accounting and Finance, Econometrics and Business Statistics, Economics and Mathematics.
Up to two subjects overall 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 and Business Statistics would need to be satisfied that the subjects formed a coherent part of the proposed subject of study.
3 Compulsory seminar:

ETC4860 Economics and commerce issues seminar

Department of Economics

Students must have completed the first three years of either the Bachelor of Economics or Bachelor of Commerce courses and have obtained results judged to be of satisfactory standard for permission to be given by the head of Department of Economics to proceed to the fourth-year honours subject. Students will be expected to have achieved an average grade of 65 per cent or above in the third-year honours program. Students who wish to proceed to fourth year honours without having completed ECC3850 require the permission of the department head. If their undergraduate performance is judged to be of a sufficient standard to proceed to fourth year, they will be required to complete additional work during the long vacation in lieu of having completed the subject ECC3850 preceding their fourth year.

Economics specialisation

Students wishing to undertake fourth-year honours in the economics specialisation must enrol in ECC4020 (Economics honours), and have their enrolment approved by the head of the Department of Economics.
The course comprises six subjects plus the issues seminar as follows:
1 Two core subjects:

ECC4650 Microeconomics and
ECC4660 Macroeconomics

2 Four elective subjects selected from:

ETC4430 Quantitative economic policy
ECC4670 Economic development theory and policy
ECC4690 International trade policy
ECC4700 Restrictive trade practices
ECC4710 Post-Keynesian economics
ECC4720 Law and economics
ECC4750 Hedging and uncertainty
ECC4790 Cost-benefit analysis
ECC4800 History of economic doctrine
ECC4810 The economics of collective choice
ECC4820 Comparative systems, ideology and policy
ECC4830 Welfare economics
ECC4840 Economics of industry, institution and organisation
ECC4850 Mathematical economic theory
ECC4870 Health economics
one special subject based on a third-year subject not already taken in third year; these subjects are listed among the third-year economics subjects with a code number ending with the digit 4, eg ECC3664;
not more than two fourth-year subjects in economic history or taught by the departments of Accounting and Finance and Econometrics and Business Statistics, 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 Compulsory seminar:

ECC4860 Economics and commerce issues 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 and Business Statistics or Economics.
1 Core subject:

ECC4530 Economic history

2 Five subjects selected from:

ECC4510 Economic history of modern Europe
ECC4520 Research essay (double subject)
ECC4540 History of economy and environment
ECC4550 Population and development
one special subject based on the third-year subjects taught by the faculty, supplemented by additional reading and research, provided that the appropriate requisites 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;
in special circumstances, a fourth-year subject from (eg history, law, mathematics or politics), provided that the appropriate prerequisites are met and that the head of the Department of Economics is satisfied that the subject forms a coherent part of the proposed course of study.

3 Compulsory seminar:

ECC4860 Economics and commerce issues seminar

Economics/Econometrics specialisation

Students wishing to undertake fourth-year honours jointly in economics and econometrics should enrol for ECC4040 (Economics/econometrics). Such students must have their enrolment approved by the heads of both departments.
The course comprises six subjects and the issues seminar:
1 Two core subjects:

ECC4650 Microeconomics or ECC4660 Macroeconomics
ETC4400 Econometric theory or ETC4410 Applied econometrics

2 Two elective subjects selected from the following:

ETC4420 Microeconometrics
ETC4430 Quantitative economic policy
ECC4690 International trade policy
ECC4700 Restrictive trade practices
ECC4710 Post-Keynesian economics
ECC4720 Law and economics
ECC4750 Hedging and uncertainty
ECC4790 Cost-benefit analysis
ECC4800 History of economic doctrine
ECC4810 The economics of collective choice
ECC4820 Comparative systems, ideology and policy
ECC4830 Welfare economics
ECC4840 Economics of industry, institution and organisation
ECC4850 Mathematical economic theory
ECC4870 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 Business Statistics and Economics;
one or both may be special subjects based on the third-year subjects taught by the Department of Econometrics and Business Statistics and/ or the Department of Economics, supplemented by additional supervised work and provided that the subject has not been taken in third year; these subjects are listed among the third-year subjects with a code number ending with the digit '4', eg ECC3664;
one may be selected from subjects taught by the Department of Accounting and Finance or, in special circumstances, from another department, 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 Compulsory seminar:

ECC4860 Economics and commerce issues seminar

Department of Management

Management specialisation

Students must have completed the first three years of the Bachelor of Commerce or Bachelor of Economics courses and obtained results judged to be of satisfactory standard for permission to be given by the head of Department of Management to proceed to the fourth-year honours subject. Students will be expected to have achieved an average grade of 65 per cent or above in the third-year program. Students who wish to enrol in the hnours program will be required to have completed MGC3600 (Management pre-honours), during their third year of study, or to undertake additional work over the vacation period prior to entering the fourth-year honours course. It is also recommended that students should have completed MGC3650 (Management research methods pre-honours).
The honours year comprises both coursework and a thesis project. 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 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.
Assessment will include written assignments, examinations, class presentations and a thesis. Details are available from the Department of Management. Students must enrol in MGC4020 (Management honours) and have their enrolment approved by the head of the Department of Management. The course comprises four subjects plus a thesis and the issues seminar as follows:
1 Three core subjects:

MGC4100 Data analysis for organisational and management research; and
MGC4210 Theories of complex organisation; and
MGC4220 Perspectives and paradigms in management theory

2 The management thesis:

MGC4420 Honours thesis in management

3 One subject from the following:

MGC3650 if not undertaken previously, supplemented by additional reading and research; or
if MGC3650 has been undertaken previously, one special subject based on a third-year subject taught by the Department of Management supplemented by additional reading and research provided that the subject has not been taken in previous year; or
if MGC3650 has been undertaken previously, one fourth-year subject from the Faculty provided that prerequisites are met and that the Head of the Department of Management is satisfied that the subject forms a coherent part of the proposed course of study.

4 MGC4860 Economics and commerce issues seminar.