Monash University: University Handbooks: Undergraduate handbook 2004: Units indexed by faculty
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Undergraduate handbook 2004
Business and Economics

Bachelor of Economics (Honours)

Course code: 0024 + Course abbreviation: BEc(Hons) + On-campus + Day classes only + Normally one year full-time + Course director: Associate Professor Marg Lindorff + Total credit points required: 48

General course information

Majors available

Students can complete their honours in the following disciplines taught by the faculty: accounting and finance, economics, economic history, econometrics, and management. Combined honours are available in accounting/econometrics and economics/econometrics.
Students wishing to take honours in business law and taxation may apply to enrol in the Bachelor of Business (Honours) in taxation at Caulfield.

Special units

Special units are fourth-year-level honours units which are based on the third-year-level units taught by the faculty. These units are supplemented by additional reading and research and can be identified by the first two numeric digits of the unit code, which are `43'.

Entry requirements

Accounting and finance specialisation

  1. 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.

  2. Students will normally have completed at least three units at third-year level chosen from AFC3120 (Advanced financial accounting), AFC3130 (Advanced management accounting), AFC3140 (Advanced business finance), BTC3150 (Taxation law), BTC3153 (Malaysian taxation law), AFC3160 (Auditing and systems), AFC3170 (Management of financial intermediaries), AFC3220 (International financial reporting), AFC3230 (Financial analysis and valuation), AFC3240 (International finance), AFC3340 (Options, financial futures and other derivatives) and AFC3440 (Pension and financial planning).

  3. Students will be expected to have obtained an average of at least 65 per cent in the third-year units taught by the Department of Accounting and Finance.

Accounting/econometrics specialisation

  1. 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 and the head of the Department of Econometrics and Business Statistics.

  2. Students will normally have completed at least three units at third-year level chosen from AFC3120 (Advanced financial accounting), AFC3130 (Advanced management accounting), AFC3140 (Advanced business finance), BTC3150 (Taxation law), BTC3153 (Malaysian taxation law), AFC3160 (Auditing and systems), AFC3170 (Management of financial intermediaries), AFC3220 (International financial reporting), AFC3230 (Financial analysis and valuation), AFC3240 (International finance), AFC3340 (Options, financial futures and other derivatives) and AFC3440 (Pension and financial planning).

  3. Students should take at least three third-year econometrics units. Students should normally include ETC3400 and ETC3410. The other appropriate third-year units are ETC3450, ETC3460, ETC3480 and ETC3500.

  4. Completion of the third-year-level honours unit ETC3470 (Econometrics (pre honours)).
    Students who have not completed ETC3470 and who have obtained at least a credit standard in the appropriate third-year units, 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 concurrently.

  5. Students will be expected to have obtained an average of at least 65 per cent in the third-year units taught by the Department of Accounting and Finance.

  6. Students will be expected to have obtained an average of at least 65 per cent in the third-year units taught by the Department of Econometrics and Business Statistics.

Econometrics specialisation

  1. 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 Econometrics and Business Statistics.

  2. Students should take at least three third-year econometrics units. Students should normally include ETC3400 and ETC3410. The other appropriate third-year units are ETC3450, ETC3460, ETC3480 and ETC3500.

  3. Completion of the third year level honours unit ETC3470 (Econometrics (pre honours)).
    Students who have not completed ETC3470 and who have obtained at least a credit standard in the appropriate third-year units, 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 concurrently.

  4. Students will be expected to have obtained an average of at least 65 per cent in the third-year units taught by the Department of Econometrics and Business Statistics.

Economics specialisation

  1. 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 Economics.

  2. Students should take at least four third-year economics units, including ECC3855 (Topics in economics).

  3. Completion of the third-year-level honours unit ECC3850 (Economics (pre honours)).
    Students who have not completed ECC3850 and who have obtained at least a credit standard in the appropriate third-year units 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 concurrently.

  4. Students will be expected to have obtained an average of at least 65 per cent in the third-year units taught by the Department of Economics.

Economic history specialisation

  1. 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 Economics.

  2. Students should take at least three third-year economic history units.

  3. Completion of the third-year-level honours unit ECC3850 (Economics (pre honours)).
    Students who have not completed ECC3850 and who have obtained at least a credit standard in the appropriate third-year units 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 concurrently.

  4. Students will be expected to have obtained an average of at least 65 per cent in the third-year units taught by the Department of Economics.

Economics/econometrics specialisation

  1. 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 Economics.

  2. Students should take at least three third-year econometrics units. Students should normally include ETC3400 and ETC3410. The other appropriate third-year units are ETC3450, ETC3460, ETC3480 and ETC3500.

  3. Students should take at least four third-year economics units, including ECC3855 (Topics in economics).

  4. Completion of the third year level honours unit ECC3850 (Economics (pre honours)).
    Students who have not completed ECC3850 and who have obtained at least a credit standard in the appropriate third-year units 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 concurrently.

  5. Students will be expected to have obtained an average of at least 65 per cent in the third-year units taught by the Department of Econometrics and Business Statistics.

  6. Students will be expected to have obtained an average of at least 65 per cent in the third-year units taught by the Department of Economics.

Management specialisation

  1. 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 Economics.

  2. Students should take at least three third-year management units. It is recommended that students take MGC3650 (Management research methods (pre honours)).

  3. Completion of the third year level honours unit MGC3600 (Management (pre honours)).
    Students who have not completed MGC3600 and who have obtained at least a credit standard in the appropriate third-year units 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 concurrently.

  4. Students will be expected to have obtained an average of at least 65 per cent in the third-year units taught by the Department of Management.

Course structure

Accounting and finance specialisation

Semester 1
  1. Students must complete two core units (12 credit points):

  2. Students must complete two units (12 credit points) from the units listed below:

Semester 2

The submitted research proposal (AFC4400) completed in semester one will be assessed by a panel consisting of the research director of the Department of Accounting and Finance, the unit leader of AFC4400 and the student's research mentor. For those research proposals considered to be of sufficient standard, the student will be invited to complete further research in the second half of their honours year. Only students invited to complete further research will be permitted to enrol in AFC4440. Students not invited to enrol in AFC4440, but who wish to be enrolled, may appeal to the relevant head of discipline for a review of their research proposal.

  1. Students must complete four units (24 credit points) from one of the following options:

    Research:
    1. AFC4440 Research project (12 credit points).
    2. Two units (12 credit points) from units listed in (a) that have not already been selected.
    Coursework:
    1. AFC4860 Issues seminar (six credit points).
    2. Three units (18 credit points) from units listed in (a) that have not already been selected.
  2. Students need to be aware of the following degree regulations:

    1. In special circumstances, the head of the department may approve up to two special units from the following list, or one special unit from the Departments of Business Law and Taxation, Economics, or Econometrics and Business Statistics:

      • AFC4312 Advanced financial accounting
      • AFC4313 Advanced management accounting
      • AFC4314 Advanced business finance
      • AFC4316 Auditing and systems
      • AFC4317 Management of financial intermediaries
      • AFC4322 International financial reporting
      • AFC4323 Financial analysis and valuation
      • AFC4324 International finance
      • AFC4334 Options, financial futures and other derivatives
      • AFC4344 Pensions and financial planning
      • AFC4354 Advanced modelling in finance
    2. Students may include up to two fourth-year-level units (12 credit points) that are not special units from the Departments of Business Law and Taxation, Economics, or Econometrics and Business Statistics.

    3. In special circumstances, a student may be given permission to include up to two units (12 credit points) 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 unit contributed to a coherent program of study.

Accounting/econometrics specialisation

  1. Students must complete one core unit (six credit points):

  2. Students must complete a minimum of three units (18 credit points) from the following list:

    A maximum of one unit (six credit points) can be taken from the following list of special units:

  3. Students must complete one core unit (six credit points) from the units listed below:

  4. Students must complete a minimum of two units (twelve credit points) from:

    1. units listed in (c) that have not already been selected and/or

    2. units from the list below:

    3. one unit (six credit points) from the following list of special units, providing that the third-year-level version of the unit has not been taken in previous years:

      • ETC4340 Econometric theory
      • ETC4341 Applied econometrics
      • ETC4345 Time series analysis for business and economics
      • ETC4346 Financial econometrics
      • ETC4348 Applied business modelling
      • ETC4350 Survey data analysis
      • ETC4351 Modelling in finance and insurance
  5. up to one unit can be selected from honours units offered by the departments Business Law and Taxation, Economics, and Mathematics, or from other faculties. If the unit is from outside the Faculty, a student would need to have the appropriate prerequisites, and the heads of the Departments of Accounting and Finance and Econometrics and Business Statistics, would need to be satisfied that the units formed a coherent part of the proposed course of study.

Econometrics specialisation

  1. Students must complete one core unit (six credit points):

  2. Students must complete seven units (42 credit points) according to the following degree regulations:

    1. A minimum of four units (24 credit points) from the following list:

    2. A maximum of two units (12 credit points) from the following list of special units, providing that the third-year-level version of the unit has not been taken in previous years:

      • ETC4340 Econometric theory*
      • ETC4341 Applied econometrics
      • ETC4345 Time series analysis for business and economics
      • ETC4346 Financial econometrics
      • ETC4348 Applied business modelling
      • ETC4350 Survey data analysis
      • ETC4351 Modelling in finance and insurance

      * It is strongly recommended that ETC4340 be included if the student has not previously passed ETC3400.

    3. A maximum of three units (18 credit points) from:honours units offered by the departments of Accounting and Finance, Business Law and Taxation, Economics, Management, Marketing and Mathematics, or from other faculties. Only one of these units can be a special unit (ie those units with a code XXX43XX), and only two of these units can be from outside the faculty (excluding Mathematics). For such units, a student would need to have the appropriate prerequisites, and the head of the Department of Econometrics and Business Statistics, or the head's nominee, would need to be satisfied that the units formed a coherent part of the proposed course of study.

Economics specialisation

  1. Students must complete three core units (18 credit points):

  2. Students must complete five units (30 credit points) according the following degree regulations:

    1. A maximum of five units (30 credit points) from the following list:

      • ECC4670 Economic development theory and policy
      • ECC4690 International trade policy
      • ECC4700 Restrictive trade practices and competition policy
      • 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
      • ECC4830 Welfare economics
      • ECC4840 Economics of industry, institution and organisation
      • ECC4850 Mathematical economic theory
      • ECC4870 Health economics
      • ECC4990 Economic evaluation of health services
      • ETC4430 Quantitative economic policy
    2. A maximum of two units (12 credit points) from the departments of Accounting and Finance, Business Law and Taxation, or Econometrics and Business Statistics. Students would need to have the appropriate prerequisites, and the head of the Department of Economics would need to be satisfied that the unit contributed to a coherent program of study. Only one unit (six credit points) can be a special unit.

    3. Only one unit (six credit points) from the Department of Economics can be a special unit:

      • ECC4350 Imperialism and development in Asia
      • ECC4351 Australian economic history
      • ECC4352 Australia in the Asian business world since 1945
      • ECC4355 Business in Asia
      • ECC4356 European economic history since 1945
      • ECC4357 The international economy since 1945
      • ECC4365 Applied general equilibrium economics
      • ECC4366 Monetary economics
      • ECC4367 Economics of developing countries
      • ECC4368 Economic growth
      • ECC4369 International economics
      • ECC4371 Labour economics
      • ECC4375 Evolution of the Australian financial system
      • ECC4376 Transport economics
      • ECC4380 History of economic thought
      • ECC4381 Public finance
      • ECC4383 Competition and regulation
      • ECC4384 Mathematical economics
    4. In special circumstances, a maximum of one unit (six credit points) may be chosen from other faculties. Students would need to have the appropriate prerequisites, and the head of the Department of Economics would need to be satisfied that the unit contributed to a coherent program of study.

Economic history specialisation

  1. Students must complete two core units (12 credit points):

  2. Students must complete four units (24 credit points) according the following degree regulations:

  3. Students must complete two units (12 credit points) according the following degree regulations:

    1. Units listed in (b) that have not already been selected:

    2. A maximum of two units (12 credit points) from the departments of Accounting and Finance, Business Law and Taxation, Econometrics and Business Statistics or Economics. Students would need to have the appropriate prerequisites, and the head of the Department of Economics would need to be satisfied that the unit contributed to a coherent program of study. Only one unit (six credit points) can be a special unit.

    3. Only one unit (six credit points) can be a special unit:

    4. In special circumstances, a maximum of one unit (six credit points) may be chosen from other faculties. Students would need to have the appropriate prerequisites, and the head of the Department of Economics would need to be satisfied that the unit contributed to a coherent program of study.

Economics/econometrics specialisation

  1. Students must complete three core units (18 credit points):

  2. Students must complete two units (12 credit points) from the following list:

  3. Students must complete three units (18 credit points) from the following list:

  4. Students must complete one unit (six credit points) according the following degree regulations:

    1. A unit (six credit points) listed in (b) or (c) that has not already been selected:

    2. A unit (six credit points), including special units, from the Departments of Econometrics and Business Statistics or Economics.

    3. In special circumstances, one unit (six credit points) may be chosen from other departments or faculties. Students would need to have the appropriate prerequisites, and the head of the Department of Economics would need to be satisfied that the unit contributed to a coherent program of study.

Management specialisation

  1. Students must complete three core units (18 credit points):

  2. Students must complete a compulsory thesis (24 credit points):

  3. Students must complete one unit (six credit points) according the following degree regulations:

    1. MGC4365 if MGC3650 not previously undertaken.

    2. one unit from the following list of special units taught by the Department of Management, provided the third-year version has not been taken in previous years:

    3. one fourth-year unit from the faculty, provided that prerequisites are met and the head of the Department of Management is satisfied that the unit forms a coherent part of the proposed course of study.

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