Offered

Caulfield First semester 2009 (Evening)
Caulfield First semester 2009 (Weekend On-campus)

Synopsis

This unit interrelates with and enhances AFF5021. It provides theoretical and practical insights into the workings of risk management through the analysis of situations and scenarios. It provides hands on experience in the identification of risk issues for practical implementation of risk management policy within a corporate setting and provides response tactics in a qualitative and/or quantitative approach. The unit will utilise current and emerging issues from a variety of sources that will emphasise, build and confirm knowledge by practical application of principles learnt during the course.

Objectives

The learning goals associated with this unit are to:

• develop analytical and diagnostic skills and in particular enhance an ability to analyse and resolve problems of practical importance and analyse situations and scenarios by reference to emerging issues in risk management and articulate a response in an effective manner
• gain experience in the identification of risk issues for practical implementation of risk management policy within a corporate setting and decide on response tactics ranging from qualitative to quantitative as appropriate
• identify risk issues of a topical nature and be able to articulate to risk situations and justify responses to various issues in terms of risk analysis
• emphasise the relationship of risk factors and scenarios to risk practitioners by examination of identified issues
• demonstrate analytical and written skills through various assignments designed to emphasise the practical application of knowledge of risk factors and scenarios.

Assessment

Within semester assessment: 100%

Prerequisites

AFF9020, AFF9770 and ETX9520

Offered

Caulfield Second semester 2009 (Evening)
Caulfield Second semester 2009 (Weekend On-campus)

Synopsis

This is the capstone unit of the Master of Risk Management. It includes detailed analysis of a series of case studies drawn from real life events and, as appropriate, delivered by industry practitioners. The unit is designed to bring all facets of the degree together in the closing semester of the course of study.

Objectives

The learning goals associated with this unit are to:

• develop analytical and diagnostic skills and in particular enhance an ability to analyse and resolve problems of practical importance
• analyse situations and scenarios by reference to case studies relating to risk management and articulate a response in an effective manner
• gain experience in a controlled environment in skills needed for practical implementation of risk management policy within a corporate setting
• decide on response tactics ranging from qualitative to quantitative as appropriate
• categorise degrees of risk and respond to risk situations, justify responses to various set situations using the matrix approach and emphasise the relationship of risk factors and scenarios to risk practitioners and various guest speakers
• work in an individual and/or team environment and develop the ability to project and defend a point of view in a constructive manner.

Assessment

Within semester assessment: 60%
Examination (2 hours): 40%

Prerequisites

AFF9020, AFF9770 and ETX9520

Offered

Caulfield Second semester 2009 (Evening)
Caulfield Second semester 2009 (Weekend On-campus)

Synopsis

This unit is designed to develop the concept of risk transfer, or the insurance purchase decision, as an outcome of risk management decision-making. It discusses the concept and application of insurance and the principals underlying the insurance purchase, with emphasis on the relationship to the risk management process.

Objectives

The learning goals associated with this unit are to:

• demonstrate an understanding of the risk transfer decision-making process and explain the concept of risk within an insurance framework
• outline the principles of risk allocation in non-insurance contracts
• explain the structure of the insurance industry and the functions of an insurance company
• outline the core concepts underlying the main insurance industry sectors of life, accident, health, property and liability
• discuss and comment on the implications of the growing convergence of the broader financial services industry.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Prerequisites

AFF9020

Offered

Caulfield First semester 2009 (Evening)

Synopsis

Financial asset analysis, valuation and allocation in global economies; volatility of asset prices; financial exposures; measuring risk and awareness of the tools available for management of such risks including futures, forwards, options and swaps; advanced approaches to the formation and management of portfolios.

Objectives

The learning goals associated with this unit are to:

• develop a recognition and understanding of the investment environment and its impact on asset valuation
• develop analytical skills related to the valuation of various investments
• develop skills to critically evaluate various investment strategies
• develop skills relating to dealing with financial risk
• develop a critical perspective of such investment management.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

Topics include history of international banking; international financial system and its major players; regulations and interaction with public policy; world debt; foreign exchange markets; lending and investment criteria; the Australian international banking sector.

Objectives

The learning goals associated with this unit are to:

• develop skills in understanding of the role of international banking within the international financial, derivatives and regulatory markets
• develop an international banking perspective by contrasting different banking and finance systems in other countries
• develop an ability to work in a team by completing a group report that requires a written synthesis of the contributions of team members and presentation of the report in the class
• develop oral presentation skills by participation in discussions during tutorials
• develop academic skills by preparing an individual assignment based on empirical studies that requires research using the web and print reference materials.

Assessment

Within semester assessment: 60%
Examination (3 hours): 40%

Contact hours

3 hours per week

Offered

Not offered in 2009

Synopsis

The nature of entrepreneurship and strategic policies in exploiting new venture opportunities. The processes of starting up and developing new ventures in small and large organisations; examining the role of effective marketing research for new ventures and products; appropriate managerial and marketing strategies; devising business plans and their implementation; financing the venture; and the management of material, human and financial resources in successful enterprises.

Objectives

The learning goals associated with this unit are to:

• explain the realities and challenges faced by entrepreneurs
• develop an awareness of the problems involved in starting up and managing new ventures either in existing organisations or as a new enterprise
• develop skills in analysis, problem-solving and decision making.

Assessment

Within semester assessment: 100%

Contact hours

3 hours per week

Offered

Caulfield Second semester 2009 (Day)

Synopsis

A study of current and emerging issues in strategic management accounting and the development of management accounting systems. Topics include marketing and management accounting, activity based management, environmental costs, and the impact of innovation and change on management accounting.

Objectives

The learning goals associated with this unit are to:

• identify and discuss contemporary issues in Strategic Management Accounting
• demonstrate an understanding of fundamental issues in business strategy and an appreciation of strategy development and management in the survival and success of a business
• discuss the problems and possibilities in making management accounting more strategically relevant to various functions of a business organisation
• explain current and emerging management accounting issues relating to the design and implementation of strategic, marketing, production, quality and other management models in modern firms
• demonstrate how management accounting may become more strategically relevant and 'add value' to a business.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Offered

Not offered in 2009

Synopsis

Reporting requirements according to Corporations Law and approved accounting standards, existing reporting practices and the quality of published financial reports. Properties and roles of financial statements; key aspects of decisions based on financial statements and environmental features for decision making.

Objectives

The learning goals associated with this unit are to:

• acquire knowledge of relevant GAAP, including International Accounting Standards, ASX Listing Rules and provisions of the Corporations Act (2001) to understand how financial reporting and disclosure affects the analysis of financial statements
• develop skills in analysing contentious financial reporting and disclosure issues
• develop skills in the analysis of financial statements for decision making
• develop oral presentation skills by participating in the presentation of case studies
• develop an ability to work in a team by setting minor and major projects that requires written synthesis of the contributions of team members.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Prohibitions

AFF4013

Offered

Caulfield First semester 2009 (On-campus block of classes)

Synopsis

An advanced study of the interface between modern managerial accounting and the business functions of strategic planning, marketing, manufacturing and human resource management. Topics covered include concepts and issues in strategy, quality, ethics, advertising and promotion, pricing, distribution and productivity.

Objectives

The learning goals associated with this unit are to:

• describe the basic conventions and doctrines of managerial and cost accounting and other generally accepted principles that may be strategically applied across the various functions of a business organisation
• identify major contemporary issues that have emerged in strategic management accounting
• critically evaluate a number of cost and management accounting issues relating to the design and implementation of strategic, marketing, strategic value and other management models in modern firms
• explain the management accountant's role in the implementation of cost management systems for marketing decision-making and business valuation.

Assessment

Within semester assessment: 45%
Examination (3 hours): 55%

Contact hours

3 hours per week

Offered

Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)

Synopsis

The focus of this unit is on the process of business valuation. Topics include capital markets issues, evaluation of industry profitability, accounting analysis including evaluation of earnings management techniques, preparation of pro-forma statements, forecasting, bankruptcy analysis, and business valuation techniques.

Objectives

The learning goals associated with this unit are to:

• learn a contemporary approach to financial statement analysis
• develop an understanding of market environment
• gain an understanding of business and industry analysis, managerial opportunism, fundamental analysis, and business valuation using lectures presentations and real-life projects
• improve ability to work in groups and interact constructively with group members
• improve communication skills via work in groups and presentations to the class.

Assessment

Within semester assessment: 55%
Examination (3 hours): 45%.

Contact hours

3 hours per week

Prohibitions

AFF5090

Offered

Caulfield Second semester 2009 (Day)

Synopsis

The extent to which accounting theories provide a basis for determining the content of external financial reports and resolving accounting controversies. The subject will provide students with the opportunity to further develop skills of analysis, evaluation and synthesis in the areas of financial accounting and reporting and in the process create an awareness of some current developments in accounting regulation.

Objectives

The learning goals associated with this unit are to:

• acquire specialist knowledge and skills in understanding research articles
• develop academic and communication skills through presentations to the class
• develop self-motivation and teamwork in conducting a comprehensive empirical research project
• acquire skills application of statistical software, such as SAS
• acquire skills in report writing through write-up of the finding of research in the context of submission to an academic journal.

Assessment

Within semester assessment: 60%
Examination (3 hours): 40%

Contact hours

3 hours per week

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)
Caulfield Full year 2009 (Day)

Synopsis

Under supervision, students are expected to undertake and report on an original research topic that addresses a contemporary and/or a significant issue in the field of accounting, banking and finance, insurance or risk management. Students must find a suitable supervisor, have selected an appropriate area of research and have obtained the approval of their course director before undertaking in this unit.

Objectives

The learning goals associated with this unit are to:

• develop an ability to work independently by selecting a research project that requires a critical review of the literature and derivation of appropriate hypotheses
• acquire knowledge of devising appropriate procedures for the testing of the hypotheses, showing regard to both theoretical and practical problems of conducting scientific research
• develop the ability to conduct a planned study and manage any problems arising from the research design and data collection
• develop a high level of analytical, written and communication skills.

Assessment

Within semester assessment: 100%

Contact hours

48 hours per week of private research and consultation with the appointed supervisor

Prerequisites

AFX4000 and AFX4010

Offered

Caulfield First semester 2009 (Evening)

Synopsis

In examining a range of concepts about the nature of competition, competitive advantage and competitive strategy; the unit is intended to provide a theoretical framework for the study of specific, current issues in competitive advantage which form the basis of the second subject in this area, AFF5401 (Issues in competitive advantage II).

Objectives

The learning goals associated with this unit are to:

• understand the role of competitive advantage and how this relates to the development of an organisation's strategic positioning and strategy
• recognise the need for concern with the concepts of competitive advantage in an increasingly challenging and changing business environment
• identify the many areas of the market and firm's activities from which a competitive advantage may originate
• appreciate that in a dynamic business environment, the factors which confer a positive advantage may change quickly
• examine a range of current issues which are seen as relevant to winning and maintaining a competitive advantage.

Assessment

Within semester assessment: 60%
Examination (3 hours): 40%

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

Topics include an introduction to the financial markets; the theoretical foundation of capital structure; the Australian debt and equity markets; international debt and equity markets; the Australian and US legal provisions relative to capital markets; securitisation; credit ratings.

Objectives

The learning goals associated with this unit are to:

• become skilled in understanding the structure of International financial markets
• acquire an understanding of the range of financial products available in International financial markets
• acquire an appreciation of the implications of International securities and tax law on International financial markets
• develop a set of academic skills which include the ability to work independently, evaluate academic papers in terms of the application of finance theories to the International financial markets, search the web and to submit assignments on time
• develop excellent oral and written communication skills to be able to analyse case studies and to lead/participate in groups from diverse cultural and social backgrounds.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 0504, 2619, 3189, 3818 or 3850 to undertake this unit

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

Topics include objectives, role, and functions of corporate treasury; its structure, ethics, policies; banking interface; treasury performance evaluation; links to corporate strategy; physical and derivative financial markets and instruments; short term and long term financial planning and forecasting; working capital management and forecasting; evaluation, management and business risks of investment opportunities; dividend policy; funding alternatives; financial risk assessment and management including interest rate risk; foreign exchange risk, credit risk and credit ratings; international financial markets and issues, treasury management systems, and recent trends in treasury management.

Objectives

The learning goals associated with this unit are to:

• describe the objectives, role and functions of corporate treasury management; its structure, ethics and policies; its interface with bank systems; the capital markets and physical and derivative instruments that it deals in, including international markets and international trade; recent trends in treasury management; and the major elements of managing the treasury function itself, including treasury management systems and treasury performance evaluation
• explain the link between corporate strategy and treasury operations, and develop a basic corporate strategy linked to a long term financial plan and forecast
• complete financial analyses of a firm, including developing a short term financial plan and forecast, and recommending improvements in the management of liquidity and working capital; evaluating investment opportunities including business risks and project management risks; determining the capital structure of a firm and making financing decisions in the light of this structure; and determining an appropriate dividend policy for a firm in the context of its investment opportunities
• describe the management principles for managing and hedging liquidity risk, interest rate risk, foreign exchange risk, and credit risk (including the use of credit ratings)
• develop basic teamwork and project management skills; written communication skills, and presentation skills.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 0504, 2619, 3189, 3818 or 3850 to undertake this unit

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)
Caulfield Summer semester B 2009 (On-campus block of classes)

Synopsis

This unit will combine classroom teaching and direct observance experience of the money markets covering background to the money markets, participants, interest rate and exchange rate determination, instruments traded in the money and currency markets, strategies and money and currency market trading operations. The simulated treasury dealing room will be used extensively in this course.

Objectives

The learning goals associated with this unit are to:

• analyse dealing practices and conventions in the foreign exchange market and cash market
• co-ordinate the front office and back office functions of a simulated bank's treasury dealing room
• account and settle transactions completed in the simulated treasury dealing room
• develop dealing strategies in the treasury dealing room
• analyse and manage positions taken in the treasury dealing room.

Assessment

Within semester assessment: 100%

Contact hours

4 hours per week

Co-requisites

Students must be enrolled in course , 0504, 2619, 3189, 3818 or 3850 to undertake this unit

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

This unit focuses on funds management styles and philosophies; approaches to implementing investment strategies for funds design and decision making; practical allocation of assets across and within different markets (industries); market sector volatilities and risk management; and performance measurement. Current academic research and trends in the industry are also considered from local and global funds management perspectives.

Objectives

The learning goals associated with this unit are to:

• acquire knowledge of the current theory and practice of the global funds management process
• acquire knowledge of current concepts based on funds management specific philosophies, strategies and styles, as well as learn various approaches to current professional funds management investment practices
• acquire knowledge of specific approaches to funds design and decisions making; practical allocation of funds across asset classes and within different financial markets (industries); portfolio optimisation; portfolio monitoring; market sector volatilities and risk management and; measurement and evaluation of funds managers' performance
• develop understanding and appreciation of current academic research and trends in the funds management industry
• based on past funds managers' performance, to develop skills of summarizing, critically analysing and assessing, ranking, reporting and, presenting the current performance of Australian funds managers.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 0504, 2619, 3189, 3818 or 3850 to undertake this unit

Offered

Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)
Caulfield Summer semester B 2009 (On-campus block of classes)

Synopsis

Topics include managing interest rate risk; foreign exchange risk; liquidity risk and the cash flow cycle; credit risk; capital risk; debt and investment risk and managing the risk of derivative products.

Objectives

The learning goals associated with this unit are to:

• develop critical skills in understanding, analysing and applying concepts and models such as VAR Model, RAROC Model, Z-score etc. which provide assistance for managing bank's assets and liability risks
• develop an understanding of the application of regulatory measures taken by Reserve bank of Australia , APRA and BIS for improvement of risk management in the banking industry
• explain the link between theory and real world situation in the areas of market risk, interest rate risks, foreign exchange risks, credit risks, liquidity risks and operation risk faced by banks
• develop writing and presentation skills by requiring the submission of group assignments relating to existing practices followed by the banks
• develop an ability to work independently by requiring presentation of tutorials answers relating to risk management by the financial institutions.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 0504, 2619, 3189, 3818 or 3850 to undertake this unit.

Leader(s): Mr Jean Pierre Fenech

Offered

Not offered in 2009

Synopsis

This unit develops knowledge and improves skills in credit risk modelling by using market information to predict defaulted firms. The topics discussed will provide an understanding of their relative merits, the issues involved in their implementation and their use in the pricing and risk management of credit risk. This unit assists practitioners and students alike to understand better the use of credit risk models and moves them away from the proverbial Black Box scenario.

Objectives

The learning goals associated with this unit are to:

• develop credit risk modelling using Altman and Ohlson models
• develop an understanding of credit risk modelling approaches
• analyse the Merton structural model and implications for credit analysis
• analyse the term structure of credit spreads and probabilities of default
• analyse implications of alternative ways to model recovery
• develop correlations between default rates and recovery
• develop copula based approach to modelling default dependence.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Prerequisites

AFF9140

Leader(s): Mr Andrew Child

Offered

Caulfield First semester 2009 (Day)

Synopsis

This unit provides advanced skills in financial planning, construction of a plan, and review of the plan. Coverage includes: preparation of various financial planning documents including the Financial Services Guide, Privacy Statement and Statement of Advice; aspects of the client relationship; gathering data and identifying goals, objectives and financial issues; assessing strategies, preparing recommendations, and writing the Statement of Advice; implementing the plan; reviewing, updating and maintaining the plan.

Objectives

The learning goals associated with this unit are to:

• define the legislative framework pertaining to the financial services sector and how it applies in practice in financial planning
• develop skills in analysis and problem solving that are critical in the preparation of financial plans and related documents
• develop skills in effectively managing and communicating with clients

• develop skills in the use of best practice financial planning software such as VisiPlan.

Assessment

Within semester assessment: 100%

Contact hours

3 hours per week

Prerequisites

AFF9130

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

This unit builds on the theoretical framework presented in the prerequisite subject AFF5200 (Issues in competitive advantage I) to examine leading business issues relating to competitive advantage.

Objectives

The learning goals associated with this unit are to:

• gain an insight into the business environment through an evaluation of real life organisational case studies
• recognise the need for continuous search for the issues and elements of the business mix upon which competitive success depends
• appreciate in a real life context, the range of issues that are currently evident in a business, the frequency of change and the associated level of uncertainty, understand how these issues and uncertainty might be addressed to develop and maintain a competitive edge
• identify, in a dynamic business environment, the issues that relate to competitive positioning in the industries and markets in which an organisation operates
• use a case study methodology for developing and implementing competitive strategies.

Assessment

Within semester assessment: 60%
Examination (3 hours): 40%

Contact hours

3 hours per week

Prerequisites

AFF5200

Offered

Caulfield First semester 2009 (Evening)
Caulfield First semester 2009 (Weekend On-campus)
Caulfield Second semester 2009 (Evening)
Caulfield Second semester 2009 (Weekend On-campus)

Synopsis

This unit is designed to introduce the concept of risk as a business philosophy and to introduce students to the Australian Risk Management Standard, AS/NZS 4360:2004. It will look at the evolution of risk, the requirements for risk management, the risk management process and steps, and the application of risk management.

Objectives

The learning goals associated with this unit are to:

• demonstrate an understanding of the scope, application and definition of risk
• explain the risk management requirements needed of a business entity of the 21st century
• compare and contrast the risk management process with existing approaches to governance, compliance and control
• link the risk approach to effective business control, by reference to AS/NZS 4360:2004
• understand the steps and the logic of the sequence.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Offered

Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Evening)

Synopsis

This unit provides an introduction to financial planning. Coverage includes: the legislative and economic environment; the role of financial service advisers; licensing and disclosure; investment strategies, products, and related taxation implications, with particular reference to securities and managed investments; social security; superannuation, pensions and other retirement issues; estate planning; and the financial planning process. This unit meets Australian Securities and Investments Commission registration requirements for Tier 1 in respect of: specific knowledge in financial planning, securities, managed investments and superannuation; and generic knowledge.

Objectives

The learning goals associated with this unit are to:

• describe financial planning activities and legal compliance requirements for financial planners
• demonstrate specialist skills required for interaction with financial planning clients
• demonstrate generic knowledge of the Australian and global investment environments, together with specialist knowledge in the areas of superannuation, financial planning, securities and managed investments
• prepare financial plans for clients with different financial objectives
• apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with personal financial planning.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prohibitions

AFC3440, AFF3111

Offered

Caulfield First semester 2009 (Evening)

Synopsis

Topics include the credit risk assessment process; accounting fundamentals; reading financial statements (including ratio analysis); using budgeted financial statements (including breakeven analysis, what-if analysis and variance analysis); creative accounting; technical accounting update; business structures; current issues in insolvency and loan security.

Objectives

The learning goals associated with this unit are to:

• develop an understanding of the basic principles governing bank lending
• develop an understanding of the framework within which bank lending decisions are made
• develop an understanding of the analysis of financial statement of a company
• develop analytical skills with regard to the management of credit risk and its measurement techniques
• develop an understanding of new bank lending product development and its marketing.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Evening)
Sunway First semester 2009 (Evening)

Synopsis

This unit examines how options and futures can be used for hedging risk in the process of risk management. Several aspects of risk management are examined, including the reasons why investors indulge in this activity, how value is created via risk management, and the firm-wide approach to risk management (given that any firm is exposed to a wide variety of risks). Once the importance of risk management has been established, emphasis turns to the use of derivatives (futures and options) to manage risk. To understand how they are used to manage risk, the unit also considers the characteristics and pricing of these instruments, including some exotic versions.

Objectives

The learning goals associated with this unit are to:

• describe the risk management function and its evolution in the corporate world
• demonstrate how risk management adds to the value of the firm
• demonstrate how financial risk can be measured
• describe futures and options markets and the characteristics of these derivatives
• explain the pricing of futures and options
• demonstrate how options and futures can be used for hedging and speculation.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Co-requisites

Only students enrolled in one of the following courses may undertake this unit:
0028, 0396, 0503, 0504, 0790, 0826, 1445, 1499, 2098, 2619, 3174, 3176, 3177, 3179, 3189, 3822, 3843 or 3844.

Prohibitions

AFF5290, AFF3751

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

Topics include the international financial system; the European monetary system; Euromarkets; trade finance and trade facilitation agencies; international bank management issues; global banking issues; country risk analysis; effect on banks of catering to needs of multinationals and transnationals.

Objectives

The learning goals associated with this unit are to:

• identify characteristics of international banking and analyse the decision of domestic banks to expand internationally
• explain the role of international financial markets and the instruments used in these markets
• understand foreign exchange and the application of relevant hedging techniques
• develop written and verbal communication skills, and the ability to work both independently and in a team.

Assessment

Within semester assessment: 30 %
Examination (3 hours): 70 %

Contact hours

3 hours per week

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

Topics include review of foundations of finance; financial mathematics and pricing of financial instruments; valuation and the management of long term investment and financial leverage; and theory of capital structure and dividend policy.

Objectives

The learning goals associated with this unit are to:

• become skilled in understanding why wealth maximisation is an appropriate goal and to further understand the issues surrounding agency relationships
• acquire relevant knowledge of portfolio theory to be able to calculate portfolio returns and risk and become skilled in the application of the Capital Asset Pricing Model to the valuation of shares
• become skilled in the application of various capital budgeting techniques which enable financial managers to evaluate investment proposals
• develop a set of academic skills which include the ability to work independently, to utilize library resources (e.g. text books, academic journals etc) to search the web and to submit assignments on time
• develop excellent oral and written communication skills to be able to work independently and to lead / participate in groups from diverse cultural and social backgrounds.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in one of the following courses to undertake this unit:
0028, 0396, 0503, 0504, 0790, 0826, 1445, 1499, 2098, 2619, 3174, 3176, 3177, 3179, 3189, 3822, 3843, 3844.

Prohibitions

AFF9730, AFG9070

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

Topics include development of money and financial markets and financial flows analysis; intermediation; economic role of the different financial institutions; determination of interest rates and yield curve analysis in financial markets; exchange rates and money supply; sources of short-term, medium-term and long-term finance; sources of overseas borrowing; an introduction to interest rate and exchange rate management; performance of the financial system.

Objectives

The learning goals associated with this unit are to:

• acquire relevant knowledge of specific types of financial institutions, instruments and markets in order to explain the distinctions between their operations, usage and regulation
• critically evaluate the assumptions and conventional wisdom relating to the term structure of interest rates
• develop academic skills by accessing electronic data sources and hard copy references to evaluate a case study assignment
• develop an ability to work in a team by requiring syndicates to submit written solutions to assigned case studies.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in one of the following courses to undertake this unit:
0028, 0396, 0503, 0504, 0790, 0826, 1445, 1499, 1822, 2098, 2619, 3174, 3176, 3177, 3179, 3189, 3822, 3843, 3844.

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

Topics include investment markets and investment strategies; measuring investment return and risk; capital asset pricing model; arbitrage pricing theory; taxation; shares and share analysis; valuation; financial futures markets; real estate; portfolio management; asset allocation; monitoring.

Objectives

The learning goals associated with this unit are to:

• provide specialist knowledge on portfolio management in applying modern portfolio theory
• develop specialist knowledge in critically evaluating financial market information to measure risk and return while understanding the implications of efficient market hypothesis in investment analysis
• acquire capability to apply asset pricing models, valuation techniques, fundamental and technical analysis in the asset valuation process
• develop communication skills through active class participation
• acquire an ability to work in a team environment in the preparation of a major group assignment incorporating a written synthesis of the contributions of team members through research in the Web and print reference materials.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in one of the following courses to undertake this unit: 0028, 0396, 0503, 0504, 0790, 0826, 1445, 1499, 1822, 2098, 2619, 3174, 3176, 3177, 3179, 3189, 3822, 3843, 3844

Offered

Caulfield Summer semester A 2009 (On-campus block of classes)

Synopsis

This unit centres on both a conceptual and practical approach to International Accounting Issues with emphasis on international standard setting and compliance as viewed by regulators and private sector preparers of accounts. Students gain a practical understanding of these issues in an international context through the overseas visitation program which forms an integral part of this unit.

Objectives

The learning goals associated with this unit are to:

• develop an understanding the history of accounting standard setting in various countries and the international convergence of accounting standards
• develop a practical understanding and appreciation of cultural differences within the area of international accounting through an overseas visitation program
• develop a set of academic skills which include the ability to work independently, evaluate academic papers in terms of the application of theories to understand and explain differences in financial reporting, search the web and to submit assignments on time
• develop excellent oral and written communication skills to be able to analyse case studies and to lead/participate in groups from diverse cultural and social backgrounds.

Assessment

Within semester assessment: 50%
Examination (2 hours): 50%

Contact hours

Five 3-hour formal class hours held over 2 weeks. Twelve 2-hour formal visits to professional bodies and companies during the international component of programs, over a period of approximately 3 weeks.

Prerequisites

Permission required

Offered

Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Evening)
Sunway Second semester 2009 (Evening)

Synopsis

Topics include working capital management, capital budgeting and funding decisions (capital structure and cost of capital) incorporating the identification of foreign exchange risks and their management as well as their financial reporting implications.

Objectives

The learning goals associated with this unit are to:

• identify motives and evaluate strategies for foreign direct investment
• understand the impact of and strategies to manage risks associated with international business
• acquire a sound knowledge of issues surrounding the financing of international business
• develop oral presentation skills in communicating complexities surrounding international business
• develop an ability to work independently, lead and participate in teams from diverse cultural and social backgrounds by producing a presentation relating to an international business issue.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 2098 to undertake this unit

Prohibitions

AFF9160, AFF9250

Offered

Caulfield First semester 2009 (Evening)
Caulfield First semester 2009 (Weekend On-campus)
Caulfield Second semester 2009 (Evening)
Caulfield Second semester 2009 (Weekend On-campus)

Synopsis

Topics include the evaluation of risk; financing tools; retention and transfer; insurance; non insurance; pre and post loss funding; retention and self insurance decisions; insurance and reinsurance principles and practices for the corporate buyer; deductible selection models; management and administration of losses and insurance claims; institutional factors, accounting factors, including taxation and government incentives; captive insurance companies; international considerations; financial transfer by contract.

Objectives

The learning goals associated with this unit are to:

• develop critical skills in understanding, analysing and applying concepts and models relating to risk management by the treasury of an organisation
• develop an understanding of optimum capital structure, maximisation of firm value and investment risk management faced by the treasury
• explain the link between theory of derivative products, insurance products and credit derivatives such as securitization and the real world situation
• develop writing and presentation skills by requiring the submission of group assignments relating to existing practices followed by the banks
• develop the ability to work independently by requiring presentation of tutorials answers relating to risk management by the financial institutions.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Offered

Gippsland First semester 2009 (Off-campus)
Gippsland Second semester 2009 (Off-campus)

Synopsis

Scientific method and emergency of accounting theory. General descriptive theories. General prescriptive theories. Not-for-profit, conceptual framework and neo-empirical research. Business ethics.

Objectives

The learning goals associated with this unit are to:

• examine the historical and theoretical background which produced contemporary accounting concepts
• critically review conventional accounting practice
• consider alternative accounting models that have been proposed as a basis for developing systems for collecting and reporting economic information for decision-making
• study the regulation of financial accounting and the development of international accounting as they relate to the conceptual framework
• understand basic ethics principles and the application of these principles in the field of business.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Prerequisites

AFG9073

Prohibitions

AFX5631, AFX9560

Offered

Gippsland Second semester 2009 (Off-campus)

Synopsis

Overview of auditing, the auditor's legal liabilities, audit process and evidence, the concepts of materiality and risks, study and evaluation of internal control, IT auditing, audit sampling techniques, the test of transactions cycles and the verification of account balances, auditors reports, and internal and operational auditing.

Objectives

The learning goals associated with this unit are to:

• explain the role, limitations and demand for audits in society and develop skills in determining the auditor's professional, ethical and legal obligations
• explain the auditor's role in corporate governance
• develop an understanding of the assurance framework and develop skills in the application of the key evidence gathering procedures used by auditors when planning, assessing the risks of material misstatements and carrying out audit procedures to determine their audit opinion
• develop skills in determining the type and format of reports provided by auditors
• develop academic and writing skills by setting an assignment that requires students to research the auditing literature and critically examine a current auditing topic.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Prerequisites

AFG9073

Prohibitions

AFX5621, AFX9570

Offered

Gippsland First semester 2009 (Off-campus)

Synopsis

Issues include goals and functions of financial policy, corporate risk, uncertainty, capital structure policies, required rates of return, capital budgeting and long term investment decisions, evaluation of investments and dividend policy, financing, debt and equity, overseas and small business financing, statement analysis and prediction of corporate failure, working capital management, mergers and acquisitions.

Objectives

The learning goals associated with this unit are to:

• demonstrate an understanding of the goal, functions and decision making rules as a financial manager
• apply mathematical models for risk and return trade-off, for the valuation of securities and for the determination of the cost of capitals
• understand the main approaches to the capital structure and dividend decisions
• obtain the basic knowledge of hybrids and derivatives
• develop and present the knowledge for takeover and acquisition.

Assessment

Within semester assessment: 30%
Examination: 70%

Prerequisites

AFG9073

Prohibitions

AFX9540, AFX9641

Offered

Gippsland Second semester 2009 (Off-campus)

Synopsis

Basic financial functions, development and basis of financial reports, analysis of financial reports, capital investment appraisals, cost behaviour, budgeting technique and implications for management, capital structure and sources of finance.

Objectives

The learning goals associated with this unit are to:

• demonstrate the full understanding of the analysis of financial statements
• apply a mathematical model for cost-price-profit analysis
• understand the main approaches to the budget planning
• obtain the basic knowledge of working capital management
• develop a way for capital investment decision making.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Offered

Gippsland First semester 2009 (Off-campus)

Synopsis

The accounting process required to prepare financial reports and the elements of these reports including assets, liabilities, equity, revenue and expenses. Students learn to classify economic transactions into appropriate accounts and calculate ratios for analysis.

Objectives

The learning goals associated with this unit are to:

• analyse and discuss the role of accounting in business and its theoretical framework
• develop skills in the analysis of accounting transactions and events, recording entries in both manual and computer based ledger systems, and in the production of balance sheets statements of changes in owners equity, income statements and cash flows
• apply an analytical approach to problem-solving both in the preparation of financial statements and in their use to assist in decision-making
• analyse financial statements for profitability and risk
• demonstrate competence in business communications through oral and written assessments.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Prohibitions

AFX9500

Offered

Gippsland Second semester 2009 (Off-campus)

Synopsis

Topics include concepts of cost, basic product costing systems, cost allocation and activity-based costing, cost behaviour and breakeven analysis, relevant costs for decision making, budgeting management, capital budgeting techniques, and organisation control and transfer pricing. Discussions are expanded to some current management accounting issues, such as methods to stay competitive, compensation plans, and Management Accounting Control System design in changing environment.

Objectives

The learning goals associated with this unit are to:

• develop an understanding of the nature of cost accounting and accounting for product and service costs to enable the provision of relevant and timely information for decision making and resource management
• apply practical skills to apply theoretical cost accounting systems to practical examples for manufacturing, merchandising and service industries
• develop analytical thinking and communication skills for providing decision making information to assist management
• develop an understanding of the concepts and techniques involved in capital investment decisions
• consider and examine developments in the area of management accounting including the impact of information technology.

Assessment

Within semester assessment: 30%
Examination: 70%

Prerequisites

AFG9071

Prohibitions

AFX5611, AFX9550

Offered

Gippsland First semester 2009 (Off-campus)
Gippsland Second semester 2009 (Off-campus)

Synopsis

Issues include the influences on the nature and objectives of corporate financial accounting, profit determination and distribution, the reorganisation of share capital, the balance sheet and income and cash flow statements, tax effect accounting, accounting for the acquisition, revaluation and impairment of assets, accounting for consolidations, including inter-company transactions and outside equity interests.

Objectives

The learning goals associated with this unit are to:

• develop a thorough knowledge of the content of the reports of publicly listed companies and be able to prepare such reports and regulations of the various regulatory bodies
• develop an understanding of the nature of the inter corporate reporting, its principles and concepts in respect of public companies and one or more fully and/or partly owned subsidiary companies
• demonstrate competence in business communications through written assessment in this unit
• develop an ability to work independently and to participate in group discussions with participants from diverse backgrounds.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Prerequisites

AFG9071

Prohibitions

AFX4601, AFX9530

Offered

Not offered in 2009

Synopsis

Prudential supervision, capital adequacy and moral hazard, measuring returns and risks in banking, credit, interest rate and liquidity risk management.

Objectives

The learning goals associated with this unit are to:

• develop a theoretical framework of a financial firm and industry
• analyse the behaviour of banks and other financial institutions
• understand the regulatory framework governing the behaviour of financial institutions
• be able to predict how banks and other financial institutions will respond to regulatory and other changes in the economy.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Offered

Caulfield First semester 2009 (Day)

Synopsis

Introduction to a broad range of research methodology and testing procedures used in accounting and finance. The primary focus is on the undertaking of research. The unit comprises an analysis of the science of research, an examination of the key elements of research in accounting and finance, data issues, ethical issues, hypothesis development, causal models, the use of parametric and non-parametric statistical tests, survey-based research and general research methodology.

Objectives

The learning goals associated with this unit are to:

• explain the major steps in the development of a research project in accounting or finance
• illustrate the key strengths and weaknesses in accounting and finance research designs and methods
• apply qualitative and quantitive data analysis techniques and interpret the output
• critically evaluate empirical research in accounting and finance
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with research methods.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Prohibitions

AFC4100

Offered

Caulfield First semester 2009 (Day)

Synopsis

Students will prepare a research proposal in an area of accounting and/or finance. Students will, with the assistance of a research mentor, select a research topic and prepare a proposal consisting of a literature review, theory and hypothesis development, an outline of the research methods to be applied and the data requirements

Objectives

The learning goals associated with this unit are to:

• prepare a research proposal in accounting or finance
• write a literature review related to a selected topic in accounting or finance
• develop testable hypotheses
• identify the appropriate method and identify data requirements to test the hypotheses
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with a research proposal.

Assessment

Within semester assessment: 100%

Contact hours

15 contact hours over 13 weeks

Co-requisites

AFX4000 and students must be enrolled in course 0171 or 0181 to undertake this unit

Offered

Caulfield Second semester 2009 (Day)
Clayton Second semester 2009 (Day)

Synopsis

Students should learn how to conduct a literature review; develop both research questions and hypotheses; formulate a research decision; gather and analyse data using appropriate procedures; write up research; and draw appropriate conclusions.

Objectives

The learning goals associated with this unit are to:

• implement a research proposal
• recognise practical problems of conducting scientific research and propose solutions
• write a comprehensive research paper
• develop the ability to conduct and manage a planned study
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with a research project.

Assessment

Within semester assessment: 100%

Contact hours

3 hours per week

Prerequisites

AFX4000 and AFX4010

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Offered

Caulfield Second semester 2009 (Day)
Clayton Second semester 2009 (Day)

Synopsis

Students conduct a critical review of the literature relevant to their study; derive appropriate hypotheses for testing; devise an empirical test of the hypotheses showing regard to practical problems of conducting research, ethical considerations, and principles of scientific method; conduct a planned study and manage any problems arising in the date collection; select and conduct an appropriate analysis of the data; and write a report on the project, showing due regard to relevant stylistic conventions.

Objectives

The learning goals associated with this unit are to:

• implement a research proposal
• recognise practical problems of conducting scientific research and propose solutions
• complete a research dissertation
• develop the ability to conduct and manage a planned study
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with a research dissertation.

Assessment

Within semester assessment: 100%

Contact hours

24 hours per week

Prerequisites

AFX4000 and AFX4010

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Offered

Clayton First semester 2009 (Day)

Synopsis

Topics include consumption-based asset pricing models , two beta ICAPM, intertemporal asset pricing models, modelling for mutual and hedging funds, credit risk models, modelling correlated defaults, term structure of default probability, credit derivatives, credit default swaps, collateralised debt obligations, asset value models.

Objectives

The learning goals associated with this unit are to:

• apply advanced knowledge and skills in the use of Excel and Visual Basic
• develop advanced skills in the design and implementation of efficient and robust financial models such as option pricing, portfolio and interest rate models
• apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with advanced modelling in finance.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

One 2-hour lecture and one 1-hour tutorial per week

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Offered

Not offered in 2009

Synopsis

The objective of this unit is to provide students with a broad introduction to the contemporary themes in Accounting Information Systems research. The unit covers issues on research and practice in the following areas: frameworks and ontologies in information systems; decision making; process modelling; systems and data; and design and behavioural aspects in accounting information systems. Upon completion of this unit, students are expected to be able to critically evaluate design and behavioural aspects of accounting information systems research and practice. They should also be able to identify major research questions in accounting information systems.

Objectives

The learning goals associated with this unit are to:

• discuss ontologies and paradigms in information systems
• discuss decision making and principles of bounded rationality
• evaluate integrated information systems modelling tools for accounting processes
• critically evaluate empirical research and identify major research questions in accounting and business information systems
• apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with issues in accounting information systems.

Assessment

Within semester assessment: 60%
Examination (3 hours): 40%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Offered

Caulfield First semester 2009 (Day)

Synopsis

This unit considers both theoretical and professional issues relevant to the various participants to the audit process. The unit provides students with an overview of the nature of assurance and regulation of the audit profession, the economics of auditing, and the behavioural dimensions of auditing. Topics also include future directions for assurance services, fraud, internal control and corporate governance issues.

Objectives

The learning goals associated with this unit are to:

• discuss research paradigms in auditing and assurance research
• describe the range of methods of decision making in auditing
• critically evaluate empirical research and identify major research questions in auditing and assurance including audit quality, internal control, fraud and corporate governance
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with issues in auditing and assurance.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

One 3-hour session per week

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Offered

Clayton First semester 2009 (Day)

Synopsis

The objective of this course is to develop critical economic reasoning and understanding of important empirical regularities in corporate finance. This unit builds on introductory corporate finance studies and analyses a variety of issues by introducing a study of recent empirical literature. There is a strong focus on research with a selective and critical examination of theoretical and empirical research in corporate finance. The advanced topics covered include market efficiency and event studies, security offerings, corporate takeovers, and capital structure, dividend policy, corporate governance and financial tunnelling.

Objectives

The learning goals associated with this unit are to:

• acquire knowledge of empirical findings in corporate finance
• develop an ability to conceptualise and analyse issues in corporate finance at a sound level of understanding and be in a position to make a significant contribution in setting firm financial policy
• critically evaluate underlying theories, concepts, assumptions, limitations and arguments in corporate financial theory
• develop analytical skills via understanding the intuition and logic behind recent academic research and the possible extension to the recent research.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Co-requisites

AFX4000

Offered

Clayton First semester 2009 (Day)

Synopsis

Topics are selected from the development of financial accounting theory, contracting theory and accounting policy choice (including debt contracts, political costs, management compensation and efficient contracting), corporate governance, behavioural research, the returns-earnings relation, the explanatory power of earnings, post-earnings announcement drift and other anomalies, information content of cash flows and accruals, earnings quality, market reaction to accounting regulation and value relevance of accounting information.

Objectives

The learning goals associated with this unit are to:

• discuss research paradigms in financial accounting
• discuss the economic consequences of accounting regulation
• distinguish between alternative perspectives of corporate governance and appreciate its interaction with contracting theory and financial accounting
• critically evaluate empirical research and identify major research questions in financial accounting
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with issues in financial accounting.

Assessment

Within semester assessment: 100%

Contact hours

One 3-hour session per week

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Offered

Caulfield First semester 2009 (Day)

Synopsis

This unit draws on the academic literature to provide a study of a range of topics relating to banking and finance. It presents a basis for students intending to undertake research into banking and related finance questions. Topics covered include theory of financial intermediation, risk management, efficiency assessment, competition modelling and bank regulation.

Objectives

The learning goals associated with this unit are to:

• discuss existing theory in the field of banking and its evolution
• critically assess the usefulness and limitations of this theory in the field of banking
• apply this theory to relevant current policy issues
• critically evaluate empirical research and identify major research questions in banking
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with issues in banking.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Offered

Clayton First semester 2009 (Day)

Synopsis

The major theoretical foundations of the management accounting discipline including the economics (agency), psychology (behavioural, etc.) and organisational (contingency) approaches are introduced. The unit shows how these disciplines have influenced the view of managers. Management accounting is presented as a professional discipline primarily concerned with influencing and facilitating decisions, and several accounting technologies are critically assessed. This unit focuses on technologies which are useful in the short and medium term including budgeting and incentive plans as well as those that take a long-term or strategic viewpoint.

Objectives

The learning goals associated with this unit are to:

• discuss research paradigms and core concepts related to organizational, economic, behavioural and sociological theories as they relate to management accounting research
• critically evaluate recent developments in strategic thinking and implications for management accounting
• critically evaluate empirical research to identify recent developments in management accounting practices from perspectives of both content and processes
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with issues in management accounting.

Assessment

Within semester assessment: 100%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 0171 or 0181 to undertake this unit

Offered

Not offered in 2009

Synopsis

This unit provides students with an advanced applied perspective to a broad range of research methodology and testing procedures used in accounting and finance research. Students who have completed this unit should, at an advanced level, be able to collect qualitative and quantitative data using a variety of research techniques; to apply advanced statistical techniques to the analysis of quantitative data; to design non-probability and probability samples; to deal with advanced issues in cross-sectional, panel and time series data and to conduct research ethically.

Objectives

The learning goals associated with this unit are to:

• explain advanced research methods used in accounting and finance research
• perform advanced statistical and econometrics tests and procedures for data analysis
• identify topical research issues, research designs and advanced methods used in accounting and finance research
• develop critical skills of summarizing, analysing, reporting and presenting quantitative and/or qualitative data and research results
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with advanced research methods.

Assessment

Within semester assessment: 30%
Examination (3 hours) 70%

Contact hours

Two 3-hour lectures per week for 6 weeks

Prerequisites

AFX4000

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Offered

Caulfield Second semester 2009 (Day)

Synopsis

Topics include functions and objectives of banks; the risk return trade off; prudential supervision; asset management; loan pricing; liabilities and equity; off balance sheet banking; asset-liability management; measuring bank performance and managing financial crises for banks.

Objectives

The learning goals associated with this unit are to:

• describe the functions and objectives of financial intermediaries
• outline a framework for analysing the risks facing financial institutions in the context of their functions and objectives
• explain how bank management address these risks in the current banking environment, including dealing with risk return trade offs, prudential supervision, asset management, loan pricing, liabilities and equity, off balance sheet banking, asset-liability management, measuring bank performance and managing financial crises
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with bank management and risk analysis.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Offered

Not offered in 2009

Synopsis

Topics likely to be covered will be selected from theory and evidence on asset pricing models, capital structure, dividend policy, efficient markets, agency theory, takeovers and corporate restructuring, option pricing theory and applications, international finance and investment appraisal.

Objectives

The learning goals associated with this unit are to:

• describe current theories and models in corporate finance
• develop and apply requisite mathematics skills
• critically evaluate empirical research to identify recent developments in corporate finance
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with corporate financial theory.

Assessment

Within semester assessment: 30%
Examination: (3 hours) 70%

Contact hours

Two 1.5-hour sessions per week

Prerequisites

AFC4060

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Offered

Clayton Second semester 2009 (Day)

Synopsis

Topics selected from accounting-based valuation models, financial ratio analysis from a valuation perspective, empirical research based on accounting-based valuation, fundamental analysis research, risk and financial information, empirical research into share returns and financial information, analysts earnings forecasts and analysts investment recommendations and share returns, management earnings forecasts.

Objectives

The learning goals associated with this unit are to:

• describe accounting-based valuation methods and apply these methods to listed companies
• critically evaluate empirical research that utilises accounting-based valuation
• critically evaluate empirical research that investigates the role of analysts as information intermediaries in securities markets
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with the analysis of financial statements.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

Two 1.5-hour sessions per week

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Offered

Not offered in 2009

Synopsis

Topics covered will be selected from: Markowitz portfolio theory, CAPM, the inter-temporal CAPM, Black-Scholes stock price and its implications, stochastic integration, stylised facts about stock and stock index returns -- results from econometric and econophysics research, risky asset models which reproduce the stylized facts, option pricing under such models, Itos formula, Ito processes, Ito calculus, accumulation under stochastic rates of interest and other applications in finance, extreme value theory in stock and insurance markets.

Objectives

The learning goals associated with this unit are to:

• explain advanced mathematical treatments of theoretical and analytical concepts in asset pricing and financial engineering
• critically analyse recent advances in mathematical and computational finance including wavelet analysis, artificial neural networks and copulas
• explain asset pricing theories and the use of scholastic processes
• critically evaluate empirical research that applies asset pricing theories
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with mathematical finance.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

Two 1.5 hour classes per week

Co-requisites

Students must be enrolled in course 0181 or 0171 to undertake this unit

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

This unit considers both theoretical and practical issues relevant to the various participants to the audit process. The unit provides students with an overview of the assurance framework, the audit process, computer assisted audit techniques and issues related to corporate governance. Topics also include triple bottom line reporting, financial statement fraud, within firm fraud and fraud detection techniques.

Objectives

The learning goals associated with this unit are to:

• analyse the audit and assurance process by working through a detailed case study
• outline the corporate governance framework including an overview of various elements of that framework including audit committees, control and risk management, internal audit and ethics
• explain fraud detection techniques
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with assurance, governance and fraud issues.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Prohibitions

AFF5120

Offered

Caulfield First semester 2009 (Day)

Synopsis

This unit provides students with a broad introduction to the core business processes and systems that underpin organisational business activities. Topics covered include: how systems support business processes, electronic commerce and business decision making; database management concepts; methods for documenting business processes and information systems; internal controls for business processes and information systems; core business processes associated with revenue, expenditure and production transaction cycles, together with business reporting; and the role of an enterprise system.

Objectives

The learning goals associated with this unit are to:

• acquire knowledge and understanding of core systems used in business and how these satisfy information needs; database management concepts; modelling business processes using two techniques: data flow diagrams and system flow charts; the importance of internal control and how to apply a control matrix; the core business processes that underpin organisational business activities; the role of an enterprise system
• develop the attitudes, values and beliefs that facilitate the recognition of different types of systems used in business and their impacts on decision making; the role of databases in business systems; the value of documenting business processes
• develop the attitudes, values and beliefs that facilitate identification of activities and business processes that generate specific accounting data; recognition of the risks faced in business processes and systems; appreciation of the interrelated nature of technology and business processes; appreciation of the relationships between accounting and information systems; the value the role of an enterprise system
• develop practical skills in analysis of information needs; use of a popular database management tool; modelling of business processes; use of a popular modelling tool; evaluation, analysis and interpretation of the efficacy of business processes, supporting systems, internal controls and the reliability of accounting data generated within these processes
• develop and enhance the relationships, communication and team work skills through collaborative learning and team work associated with documenting and analysing business processes; problem solving and critical thinking in ambiguous and dynamic contexts.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Prohibitions

AFX9520

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)

Synopsis

Business analytics and their applications to financial and management decision making will be explored for a range of business situations including: investment; planning; cash flow management; capital budgeting; contract awards; and risk analysis. Analytics covered include: problem structuring; multiple criteria decision making; optimisation; simulation; and data mining. Upon completion of this unit, students are expected to competently use selected analytics, to provide management interpretation of the solutions and to formulate business analyst's recommendations. The unit utilises advanced computer modeling tools available in Microsoft Excel and other modeling software packages.

Objectives

The learning goals associated with this unit are to:

• acquire knowledge and understanding of the role of business analytics in organisations, the decision making lifecycle in business and financial management, model building techniques, model solving techniques, presentation and interpretation of results from business models, and popular and leading edge business and financial decision modelling tools
• develop the attitudes, values, and beliefs that facilitate recognition of the value of business analytics within an organisation, adoption of a critical approach to decision models and their use in a business management context, appreciation of the value of modelling and simulation as effective business and financial decision making tools, appreciation of the limitations of formal decision models and the necessity of post-solution interpretation stage, and appreciation of the risks and benefits of interactive computer-centred business decision making
• develop the practical skills in creation of interactive models for financial and management decisions and interpretation of the results produced at the model solving stage
• develop the practical skills in selection of appropriate decision modelling techniques for given business management situations, assessment of the limitations of models, analysis of the appropriateness of modelling environments, and use of popular and leading edge business analytics tools
• develop and enhance the relationships, communication and team work skills through collaborative learning associated with documenting and communicating decision models, team work associated with the model design and results interpretation stages, and coordination in the decision making life cycle.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Prohibitions

BUS5570, ETF9480, GCO4802

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)

Synopsis

The objective of this unit is to introduce students to the business aspects of integrated enterprise systems. Enterprise systems are configurable business information systems that integrate information across multiple enterprise functions and business units, support key enterprise processes, and provide an enterprise wide view of business performance. Topics include systems and technology background, business processes and process reengineering, integration of core financial and logistics processes, enterprise wide reporting, and techniques for assessing enterprise productivity and enterprise dynamics. A well-known integrated enterprise system will be extensively used in this unit.

Objectives

The learning goals associated with this unit are to:

• acquire knowledge and understanding of the role of an Enterprise System and its characteristics that distinguish it from other software; the benefits of enterprise systems including integration, world-wide flexibility, interactive processing and the capacity for configuration to suit business types
• acquire knowledge and understanding of the features, functionality and modules of an enterprise system used in supporting organisations core business processes; enterprise wide reporting capabilities afforded by an enterprise system; how business process information can be used to measure enterprise performance; business process modelling; how business processes can be redesigned to improve operational efficiency and effectiveness and achieve a high level of internal control
• develop the attitudes, values and beliefs that facilitate the recognition of value and role of an enterprise system in supporting business; appreciate the benefits afforded by enterprise systems and their impact on the business; appreciate how enterprise performance is measured; appreciate the role and place of process modelling; appreciate how firms might restructure business processes that are no longer appropriate due to changed circumstances
• develop the practical skills in the use of a popular enterprise system; business reporting using an enterprise system; modelling of business processes; analysis and redesign of a business process
• develop and enhance the relationships, communication and team work skills through collaborative learning associated with understanding the workings of an enterprise system and critical thinking and problem solving leading to the redesign of business processes.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Prohibitions

BUS5700, FIT5101

Offered

Caulfield Summer semester A 2009 (On-campus block of classes)
Caulfield Summer semester B 2009 (On-campus block of classes)

Synopsis

The unit is designed to impart an understanding and appreciation of the current issues underlying the International area of finance, and to develop a practical understanding of the markets and the financial techniques used within the markets. To encourage research techniques for a specialised topic within the financial markets area. To develop a practical understanding and appreciation of cultural differences within the area of international banking and finance through an overseas visitation program.

Objectives

The learning goals associated with this unit are to:

• become skilled in understanding the history and structure of International banking and financial markets
• acquire an understanding of the theories and usage of International foreign exchange markets
• develop a practical understanding and appreciation of cultural differences within the area of international banking and finance through an overseas visitation program
• develop a set of academic skills which include the ability to work independently, evaluate academic papers in terms of the application of finance theories to the International financial markets, search the web and to submit assignments on time
• develop excellent oral and written communication skills to be able to analyse case studies and to lead/participate in groups from diverse cultural and social backgrounds.

Assessment

Within semester assessment: 100%

Contact hours

One 6-hour seminar, followed by a 3 week international visitation program consisting of at least ten 2/3 hour presentations by sponsor organisations in the International Program, followed by interaction with Program Coordinators to discuss research project.

Prerequisites

Permission required

Offered

Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Evening)

Synopsis

This unit is the foundation segment in the CPA program. It introduces the business environment and an understanding of how to apply professional judgement in ethical and reporting issues. The unit examines the nature of accounting and the role of practitioners; professional responsibilities and judgment and the practical implications of ethics; the business and regulatory environment; the role of professional accountants in enterprise governance; and the conceptual framework for general purpose financial reporting that applies in Australia.

Objectives

The learning goals associated with this unit are to:

• acquire knowledge of current developments in the business and regulatory framework, corporate governance and the conceptual framework for general purpose financial reporting
• develop an improved understanding of the accountancy as a profession and a conceptual framework for ethical behaviour
• acquire skills in applying professional judgment in ethical and reporting issues in professional practice
• develop critical skills in analysing, communicating and presenting comprehensive case studies
• develop an ability to work independently and to participate in group discussions with participants from diverse backgrounds.

Assessment

Examination (3 hours): 100%

Contact hours

3 hours per week

Prerequisites

Associate membership CPA Australia

Prohibitions

AFF5001

Offered

Caulfield First semester 2009 (Evening)

Synopsis

This unit covers the nature and diversity of auditing and assurance services. It presents an overview of the audit and assurance process and examines the objectives of assurance engagements and the environment within which the auditor or assurance practitioner operates. Insights are given into the various methodologies and procedures commonly employed in audit and assurance engagements, and the respective roles of private and public sector auditors are described and compared. The segment covers a number of important areas encountered in audit practice, and gives an overview of other assurance opportunities besides the audits of historical financial information.

Objectives

The learning goals associated with this unit are to:

• develop an improved understanding of the nature and diversity of auditing and assurance services, including performance audits
• acquire knowledge of assurance engagements other than audits or reviews of historical financial information of the accountancy as a profession and a conceptual framework for ethical behaviour
• acquire skills in analysing and illustrating the complete audit process comprising the planning, evidence gathering and reporting stages, including how the IT environment impacts on all aspects of the audit process
• develop critical skills in analysing, communicating and presenting comprehensive case studies
• develop an ability to work independently and to participate in group discussions with participants from diverse backgrounds.

Assessment

Examination: 100%

Contact hours

3 hours per week

Prerequisites

Associate membership CPA Australia

Prohibitions

AFX5006

Offered

Caulfield First semester 2009 (Evening)

Synopsis

This unit is a compulsory segment in the CPA program. The unit deals with many of the issues surrounding governance and accountability by directors and management of organisations. It discusses 'best practices' in corporate governance and the association with corporate performance. Topics include: introduction to corporate governance and accountability -- the framework; the role and value of effective corporate governance; duties and responsibilities of directors and officers; impact of corporate governance on managing the company; corporate ethics; competition and compliance in trade practices; and international corporate governance models.

Objectives

The learning goals associated with this unit are to:

• acquire knowledge of the role and value of effective corporate governance and international contemporary corporate governance practices
• understand the role, duties, responsibilities and accountability of company directors and officers
• develop an improved understanding of legal and ethical codes of conduct for company directors and officers
• develop critical skills in analysing, communicating and presenting comprehensive case studies
• develop an ability to work independently and to participate in group discussions with participants from diverse backgrounds.

Assessment

Examination (3 hours): 100%

Contact hours

3 hours per week

Prerequisites

Associate membership CPA Australia and AFX5900

Prohibitions

AFX5012

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

This unit is one of the elective segments offered in the CPA Program. Topics include the procurement of funds, the management of funds, the management of interest rate risk and foreign exchange risk, accounting for treasury operations and taxation aspects of treasury operations.

Objectives

The learning goals associated with this unit are to:

• demonstrate an understanding of the nature, importance and the need to control financial risk faced by corporations and other business and government entities
• acquire detailed working knowledge of the nature of the treasury function, including roles, responsibilities, organisation, performance measurement and accounting guidelines as they relate to the treasury function
• analyse capital structure decisions, cost of capital, leverage effects and the allocation of capital to long-term investment projects
• demonstrate an understanding of sources of short and long-term funding and the nature and function of derivative financial instruments within an organisation's risk management structure
• apply the principles of risk management instruments and strategies to interest rate and currency hedging and procedures required for hedge accounting under Australian accounting standard AASB 139.

Assessment

Examination: 100%

Contact hours

3 hours per week

Prerequisites

Associate membership CPA Australia

Prohibitions

AFX5004

Offered

Caulfield Second semester 2009 (Day)

Synopsis

The unit develops an understanding of planning; financing; investing and financial management aspects of new businesses. In addition, it introduces the participant to statutory reporting issues prescribed by regulators. New ventures have special financial characteristics requiring a different approach to financing. Managers need to understand the real enterprise value that is being created so as to provide the intended returns for the resources and risk involved. This unit will address the knowledge and basic skills required by leaders for the financial management of a science and technology business to support strategic management goals.

Objectives

The learning goals associated with this unit are to:

• evaluate and apply financial planning skills involved in making investment decisions including the use of tools such as Excel
• understand the financial theories and processes involved in finance decisions and options
• develop an understanding of the key entrepreneurial finance issues. This includes valuation of science and technology oriented start-ups and related financing processes and options
• evaluate and discuss the interpretation of financial reports
• compare and contrast the financial management processes necessary to efficiently and effectively manage a science and technology business without stifling innovation.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

Two 3-hour classes per week for 6.5 weeks (39 hours); or in block-mode, 39 hours of classes during the semester

Prerequisites

GSB9004

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

This unit provides students with an introduction to accounting and an understanding of the preparation, presentation and interpretation of financial statements. In particular, emphasis is placed on accounting processes, practices and policies that enable the financial performance and financial position of an entity, as displayed by the balance sheet, income statement and statement of cash flows, to be measured, analysed and interpreted.

Objectives

The learning goals associated with this unit are to:

• develop skills in the analysis and recording of accounting transactions and events, and in the production of balance sheets, and statements of income, changes in owners equity and cash flows
• explain the nature and purpose of accrual accounting adjustments
• develop an understanding of good internal control systems (focusing on bank and cash) and the periodic and perpetual inventory recording systems
• acquire relevant knowledge in order to apply techniques for the analysis and evaluation of a firms financial position and performance
• develop an ability to work efficiently and independently by setting both weekly class work and an independent assignment.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prohibitions

AFF9500, AFG9071

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)
Gippsland First semester 2009 (Off-campus)

Synopsis

Introduction to the use of spread sheets; basic mathematics; descriptive statistics; elementary probability; discrete probability distributions; continuous probability distributions; hypothesis testing; forecasting and time series; regression and correlation.

Objectives

The learning goals associated with this unit are to:

• acquire an appropriate vocabulary and understanding of basic mathematical terminology
• understand the use of statistics and quantitative methods, and interpret data to be more effective in business planning, forecasting and management
• apply and integrate skills and knowledge acquired via the use of models, formulae, and examples drawn from various applications in Finance and Accounting.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

The objective of this unit is two-fold. Firstly, the unit provides students with a broad introduction to accounting information and the role technology plays in gathering, storing and managing accounting information. The unit provides an introduction to: enterprise systems; database management; documentation methods; internal controls; and how these apply in business processes found in organisations. Secondly, the unit focuses on effective design and auditing of spreadsheet models, the types and uses of models, and the benefits and limitations of models for use as decision support tools; various models are developed using an industry standard spreadsheet.

Objectives

The learning goals associated with this unit are to:

• examine the role of accounting information systems in analysing and providing decision support to the financial activities of a company
• analyse the problems involved in the implementation of computerised accounting information systems and financial models
• formulate computer-based financial models that may be used by management and decision makers
• demonstrate a working facility with a spreadsheet software by building a number of typical financial models used for decision support in business.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Co-requisites

AFX9500

Prohibitions

AFF9521, AFX5310, AFX9521, GCO8019

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

An overview of the Australian financial reporting and regulatory framework for reporting entities, including an analysis of the relevant significant accounting standards, benchmarking against the conceptual framework, professional reporting requirements and stock exchange requirements. Financial reporting for corporate groups (including the impact of control, joint control and significant influence) and selected issues in financial reporting are also explored and benchmarked against the conceptual framework.

Objectives

The learning goals associated with this unit are to:

• critically evaluate the requirements for general purpose financial reports (GPFRs) in the context of the Australian Conceptual Framework, including the role of the Corporations Act, the Australian Accounting Standards Board (AASB) and the Australian Securities and Investments Commission in the financial reporting process
• to understand, apply and evaluate the rules for the preparation of financial statements required for GPFRs, including the respective roles of the Corporations Act, the AASB, ASIC and the Australian Stock Exchange
• to understand, apply and evaluate the rules for reporting in an entity's GPFR on the entity's investment in other entities, in particular when that investment results in control (consolidation), joint control (equity accounting and direct recognition), or significant influence (equity accounting)
• develop writing and presentation skills by requiring the submission of an individual assignments that apply an understanding for the Australian Conceptual Framework, and the detailed requirements of AASB standards, with particular emphasis on those dealing with the form and content of financial statements, the preparation of consolidated financial statements, and the financial reporting implications of income tax
• develop an ability to work independently in the analysing of financial reporting issues and their possible resolution, with particular emphasis on the ability to apply prior knowledge and skills in new or novel contexts, through the preparation of weekly tutorial assignments and the submission of unit assignments.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prerequisites

AFX9500

Prohibitions

AFF9601, AFX4601

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

This unit covers corporate finance concepts and theories at an introductory level. Students will be expected to be able to master basic calculations involving share and bond valuations, NPV and IRR, company cost of capital, etc. and to use them in determining whether investment projects should proceed as well as the value of companies. They will also expected to be able to interpret the results and to discuss basic issues and theories appropriate to an introductory level unit.

Objectives

The learning goals associated with this unit are to:

• demonstrate a basic understanding of the theory of business finance
• be familiar with the practical aspects of capital budgeting and be competent in applying the fundamental principles of financial mathematics to investment decisions
• be able to explain and have a basic understanding of portfolio theory and how it can be extended to pricing risky assets
• know how to choose and compute an appropriate cost of capital estimate for investment appraisal purposes
• have a basic understanding of the theory and issues involved in efficient markets, dividend policy and capital structure.

Assessment

Within semester assessment: 20%
Examination (3 hours): 80%

Contact hours

3 hours per week

Co-requisites

AFX9510 is recommended

Prohibitions

AFF9250, AFF9641, AFG9044, AFX9641

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

This unit aims to develop a student's understanding of the concepts and techniques of management accounting, and his/her skills in the use of management accounting techniques to communicate decision-useful information to management. The unit content includes costing terminology, cost classification, cost accumulation and recording systems, job and process costing, activity-based costing, inventory costing, cost-volume-profit analysis, information for decision making, pricing and product mix decisions, budgets and budgetary control, standard costing and variance analysis, traditional measures of performance, contemporary approaches to measuring and managing performance, decentralisation and inter-divisional transfer pricing. Seminars, lectures and tutorials are used (as appropriate) to guide participants towards proficiency in management and cost accounting principles and techniques.

Objectives

The learning goals associated with this unit are to:

• identify and describe management accounting principles, techniques applicable to a wide range of situations in both service and manufacturing industries, and recent developments in management accounting in relation to the provision of management information
• describe and apply the operation of cost classification and recording systems, job costing and process costing techniques, standard costing techniques, perform variance analysis using flexible budgets, costing and pricing goods and services, and activity-based costing techniques
• design budgets and explain the behavioural aspects of different budgeting styles
• examine cost-volume-profit analyses, divisional performance evaluation measures and the role of inter-divisional transfer pricing
• demonstrate the capacity to work productively in a team to research a relevant topic and demonstrate a high level of communication skills to write an academic paper.

Assessment

Within semester assessment: 20%
Examination (3 hours): 80%

Contact hours

3 hours per week

Prerequisites

AFX9500

Prohibitions

AFF9611, AFG9072, AFX5611

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

Topics include the standard-setting and regulatory framework in Australia; the various authoritative pronouncements and guidelines emerging from the conceptual framework; accounting for financial derivatives; accounting for foreign currency; intangible assets; jointly controlled ventures and the theoretical underpinnings of these topics.

Objectives

The learning goals associated with this unit are to:

• understand the constructed nature of accounting by studying, from a range of perspectives, the theoretical concepts upon which the practice of accounting is structured
• identify the basic principles of accounting and the theoretical reasoning behind those principles
• outline the broad objectives of accounting, and critically assess aspects of the conceptual framework that continue to be contentious
• critically assess and appreciate changing influences in standard setting procedures; the compliance regime in capital markets and impacts of regulatory requirements on financial reporting entities
• understand the relevant theoretical structure and handle practical accounting problems related to specific accounting contexts including foreign currency, financial derivatives, and intangible assets.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Prerequisites

AFX9530

Prohibitions

AFF9631, AFG9040, AFX5631

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

Topics include nature and objectives of auditing; auditing standards; audit reporting; audit expectation gap and legal liability; professional ethics and quality control; audit evidence; audit planning, strategic business risk analysis, materiality, analytical review procedures and audit risk model; study and evaluation of internal control and model; assessing control risk CIS audit techniques, test of transactions and tests of balances, completing the audit and post audit responsibilities; internal auditing and performance auditing, other assurance services and current issues in auditing.

Objectives

The learning goals associated with this unit are to:

• explain the role, limitations and demand for audits in modern corporate society including the auditor's professional, ethical and legal obligations
• explain the auditor's role in corporate governance with particular emphasis on the detection and reporting of fraud and error
• develop an understanding of the assurance framework and the key evidence gathering procedures used by auditors when planning, assessing the risks of material misstatements, carrying out substantive tests and analytical procedures, completing the audit, and forming an audit opinion
• develop an ability to work independently and to lead and participate in teams from diverse cultural and social backgrounds by setting both independent and group assessable tasks
• develop oral presentation skills by participation in tutorial discussions and through class presentations.

Assessment

Within semester assessment: 35%
Examination (3 hours): 65%

Contact hours

3 hours per week

Prerequisites

AFX9530

Prohibitions

AFG9041, AFX5621

Offered

Overseas First semester 2009 (Off-campus Day)
Overseas Second semester 2009 (Off-campus Day)

Synopsis

This unit is used by the Faculty to enrol students undertaking outbound exchange studies at a host institution. Students will not be able to enrol in this unit via WES. The faculty will manage the enrolment of students undertaking an outbound exchange program to ensure fees and credit are processed accurately.

Offered

Overseas First semester 2009 (Off-campus Day)
Overseas Second semester 2009 (Off-campus Day)

Synopsis

This unit is used by the Faculty to enrol students undertaking outbound exchange studies at a host institution. Students will not be able to enrol in this unit via WES. The faculty will manage the enrolment of students undertaking an outbound exchange program to ensure fees and credit are processed accurately.

Offered

Overseas First semester 2009 (Off-campus Day)
Overseas Second semester 2009 (Off-campus Day)

Synopsis

This unit is used by the Faculty to enrol students undertaking outbound exchange studies at a host institution. Students will not be able to enrol in this unit via WES. The faculty will manage the enrolment of students undertaking an outbound exchange program to ensure fees and credit are processed accurately.

Offered

Overseas First semester 2009 (Off-campus Day)
Overseas Second semester 2009 (Off-campus Day)

Synopsis

This unit is used by the Faculty to enrol students undertaking outbound exchange studies at a host institution. Students will not be able to enrol in this unit via WES. The faculty will manage the enrolment of students undertaking an outbound exchange program to ensure fees and credit are processed accurately.

Offered

Overseas First semester 2009 (Off-campus Day)
Overseas Second semester 2009 (Off-campus Day)
Overseas Winter semester 2009 (Off-campus Day)

Synopsis

This unit is used by the Faculty to enrol students undertaking outbound exchange studies at a host institution. Students will not be able to enrol in this unit via WES. The faculty will manage the enrolment of students undertaking an outbound exchange program to ensure fees and credit are processed accurately.

Offered

Overseas First semester 2009 (Off-campus Day)
Overseas Second semester 2009 (Off-campus Day)
Overseas Winter semester 2009 (Off-campus Day)

Synopsis

This unit is used by the Faculty to enrol students undertaking outbound exchange studies at a host institution. Students will not be able to enrol in this unit via WES. The faculty will manage the enrolment of students undertaking an outbound exchange program to ensure fees and credit are processed accurately.

Offered

Overseas First semester 2009 (Off-campus Day)
Overseas Second semester 2009 (Off-campus Day)

Synopsis

This unit is used by the Faculty to enrol students undertaking outbound exchange studies at a host institution. Students will not be able to enrol in this unit via WES. The faculty will manage the enrolment of students undertaking an outbound exchange program to ensure fees and credit are processed accurately.

Offered

Overseas First semester 2009 (Off-campus Day)
Overseas Second semester 2009 (Off-campus Day)

Synopsis

This unit is used by the Faculty to enrol students undertaking outbound exchange studies at a host institution. Students will not be able to enrol in this unit via WES. The faculty will manage the enrolment of students undertaking an outbound exchange program to ensure fees and credit are processed accurately.

Offered

Caulfield Summer semester A 2009 (On-campus block of classes)
Overseas First semester 2009 (Off-campus Day)
Overseas Second semester 2009 (Off-campus Day)
Overseas Winter semester 2009 (Off-campus Day)

Synopsis

This unit is used by the Faculty to enrol students undertaking outbound exchange studies at a host institution. Students will not be able to enrol in this unit via WES. The faculty will manage the enrolment of students undertaking an outbound exchange program to ensure fees and credit are processed accurately.

Offered

Caulfield Summer semester A 2009 (On-campus block of classes)
Overseas First semester 2009 (Off-campus Day)
Overseas Second semester 2009 (Off-campus Day)
Overseas Winter semester 2009 (Off-campus Day)

Synopsis

This unit is used by the Faculty to enrol students undertaking outbound exchange studies at a host institution. Students will not be able to enrol in this unit via WES. The faculty will manage the enrolment of students undertaking an outbound exchange program to ensure fees and credit are processed accurately.

Offered

Overseas First semester 2009 (Off-campus Day)
Overseas Second semester 2009 (Off-campus Day)
Overseas Winter semester 2009 (Off-campus Day)

Synopsis

This unit is used by the Faculty to enrol students undertaking outbound exchange studies at a host institution. Students will not be able to enrol in this unit via WES. The faculty will manage the enrolment of students undertaking an outbound exchange program to ensure fees and credit are processed accurately.

Offered

Overseas First semester 2009 (Off-campus Day)
Overseas Second semester 2009 (Off-campus Day)
Overseas Winter semester 2009 (Off-campus Day)

Synopsis

This unit is used by the Faculty to enrol students undertaking outbound exchange studies at a host institution. Students will not be able to enrol in this unit via WES. The faculty will manage the enrolment of students undertaking an outbound exchange program to ensure fees and credit are processed accurately.

Leader(s): Professor Ron Davison

Offered

Berwick First semester 2009 (Day)
Gippsland First semester 2009 (Day)
Sunway First semester 2009 (Day)
Sunway Second semester 2009 (Day)
Peninsula First semester 2009 (Day)

Synopsis

On completion of this subject students will be able to formulate a research proposal, develop hypotheses, identify appropriate research methodologies and prepare a research thesis. Topics include: the philosophy of qualitative/interpretive and quantitative research; qualitative/interpretive and quantitative research designs; quasi-experiments and experiments in the field; interview-based research designs; ethnography/participant observation and case study research design; documentation and observation research design; context/textual data analysis; ethical issues in research; research report writing.

Assessment

Within semester assessment: 100%

Leader(s): Professor Ron Davison

Offered

Sunway Second semester 2009 (Day)

Synopsis

An in-depth introduction to quantitative research methods. This subject is one of two that together supply the research methodology skills and knowledge necessary for students to complete an independent research project at the honours level. It provides a comprehensive coverage of quantitative research methodologies. Topics include: survey studies/correlational field studies; forms of regression; analysis of variances; discriminant analysis; factor analysis; non-parametric statistics.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Prohibitions

ETW2111, ETX2111, ETX2121

Offered

Berwick First semester 2009 (Day)
Berwick Second semester 2009 (Day)
Gippsland First semester 2009 (Day)
Sunway First semester 2009 (Day)
Sunway Second semester 2009 (Day)
Peninsula First semester 2009 (Day)

Synopsis

Under the guidance of an academic supervisor, this subject allows a student to independently gain in-depth discipline knowledge in a selected area of business and commerce as a foundation to the completion of an honours project. The student will complete a prescribed list of readings, undertake further independent literature studies, and complete other learning activities and assessments considered appropriate for the selected field of study.

Assessment

Assessment will be through a combination of assignments, examinations, and written reports appropriate to the selected area of study and associated activities.

Offered

Berwick First semester 2009 (Day)
Berwick Second semester 2009 (Day)
Gippsland First semester 2009 (Day)
Sunway First semester 2009 (Day)
Sunway Second semester 2009 (Day)
Peninsula First semester 2009 (Day)

Synopsis

Under the guidance of an academic supervisor, this subject allows a student to independently gain in-depth discipline knowledge in a selected area of business and commerce as a foundation to the completion of an honours research project. The student will complete a prescribed list of readings, undertake further independent literature studies, and complete other learning activities and assessments considered appropriate for the selected field of study.

Assessment

Assignments, examinations and written reports appropriate to the selected area of study and associated activities

Prerequisites

Students must be enrolled in course 3169 to undertake this unit

Offered

Berwick First semester 2009 (Day)
Berwick Second semester 2009 (Day)
Gippsland Second semester 2009 (Day)
Sunway First semester 2009 (Day)
Sunway Second semester 2009 (Day)
Peninsula Second semester 2009 (Day)

Synopsis

Students work under the guidance of a supervisor to plan, carry out, and report on an original research project that addresses a significant issues in business; this research project is likely to have substantial practical outcomes or implications; as well, it is hoped that students and supervisors will publish the work in an appropriate journal.

Assessment

Within semester assessment: 100%

Prerequisites

BEW4000

Offered

Berwick Full year 2009 (Day)
Berwick Second semester to First semester 2009 (Day)
Sunway Full year 2009 (Day)
Sunway Second semester to First semester 2009 (Day)
Peninsula Full year 2009 (Day)
Peninsula Second semester to First semester 2009 (Day)
South Africa Full year 2009 (Day)
South Africa Second semester to First semester 2009 (Day)

Offered

Caulfield Second semester 2009 (On-campus block of classes)

Synopsis

This unit considers the quantitative research methods used in studying business, management and organisational analysis. Topics to be covered include: research design including experimental designs studies; data collection including designing data collection instruments, sampling strategies and assessing the appropriateness of archival data for a research purpose; data analysis including graphical and numerical techniques for the exploration of large data sets; communication of quantitative research; and the use of statistical software packages such as SPSS in research.

Objectives

The learning goals associated with this unit are to:

• acquire the necessary quantitative skills to conduct high quality independent research related to business administration
• acquire a comprehensive grounding in a number of quantitative methods of data production and analysis
• consider and evaluate data collection instruments, sampling strategies and the appropriateness of archival data for a research purpose
• assess research design including experimental designs, observational studies, case studies, longitudinal analysis

• conduct quantitative data analysis of a suitable multivariate data set through a practical research activity.

Assessment

Within sememster assessement: 100%

Contact hours

3 hours per week

Co-requisites

BEX5010 and students must be enrolled in course 4408 Master of Philosophy before undertaking this unit.

Offered

Caulfield Second semester 2009 (On-campus block of classes)

Synopsis

This unit provides students with an understanding of the issues underlying the conducting of rigorous and theoretically correct and practically relevant qualitative business related research. Students will be introduced to ways of using different research methods within qualitative research, such as case study research, interviewing, naturalistic observation and text analysis.

Objectives

The learning goals associated with this unit are to:

• acquire the necessary skills to conduct high quality independent qualitative research related to business administration
• acquire a comprehensive grounding in a number of qualitative research methods applicable in different business environments
• understand how to collect qualitative data using a variety of research techniques
• design probability and non-probability samples for conducting qualitative research
• analyse and evaluate qualitative data.

Assessment

Within semester assessment: 100%

Contact hours

3 hours per week

Co-requisites

BEX5000 and Students must be enrolled in course code 4408 Master of Philosophy before undertaking this unit.

Leader(s): Dr Janine Pascoe

Offered

Clayton Second semester 2009 (Day)

Synopsis

Aspects of the legal environment that affect financial decisions, transactions and relationships. Topics covered are chosen from the laws regulating the financing implications of different forms of business organisation; financial institutions and the financial institutions/customer relationship; cheques; electronic transactions; other negotiable instruments; the laws regulating business finance and security; consumer credit; guarantees and bankruptcy.

Objectives

The learning goals associated with this unit are to:

• understand the legal and regulatory framework applicable to the banking and finance sector
• analyse and apply the legal concepts underlying banking and financial transactions
• analyse and apply the legal principles relating to the rights and obligations of those involved in banking and finance
• have developed a legal perspective to assist in decision-making in areas involving banking and finance
• to provide the legal background for the resolution of business problems involving banking and finance.

Assessment

Within semester assessment: 25%
Examination (3.5 hours, open-book): 75%

Contact hours

Two 1-hour lectures and one 1-hour tutorial per week

Prerequisites

BTC1110 or BTC2110 or equivalent and BTC2210 or BTC2213 or equivalent

Prohibitions

BTC3200

Leader(s): Dr Janine Pascoe

Offered

Clayton First semester 2009 (Day)

Synopsis

The legal framework which operates in relation to marketing decisions and practice. The impact of common law, legislation and self-regulating codes of practice in the market place. Particular topics include intellectual property rights, product development and promotion, product safety and quality, the regulation of unfair and anti-competitive conduct, franchising and electronic marketing and the law.

Objectives

The learning goals associated with this unit are to:

• identify and analyse the consumer protection laws and apply those laws to a range of marketing and advertising strategies
• identify and analyse the laws protecting intellectual property and apply those laws to the development and marketing of new products and ideas
• identify, analyse and apply the laws regulating a range of competition practices including pricing and distribution
• Develop an ability to research and critically evaluate developments in marketing law.

Assessment

Within semester assessment: 30%
Final examination (3.5 hours, open-book): 70%

Contact hours

Two 1-hour lectures and one 1-hour tutorial per week

Prerequisites

BTC1110 or BTC2110 or equivalent

Prohibitions

BTC3300

Leader(s): Mr Tony van der Westhuysen

Offered

Clayton Second semester 2009 (Day)

Synopsis

Taxation of business income and abnormal receipts. Business tax reform including the Goods and Services Tax and Ralph Committee reforms. Tax planning issues on acquisition and disposal of a business. Remuneration planning, retirement and estate planning.

Objectives

The learning goals associated with this unit are to:

• describe the taxation issues associated with specific regimes including the Alienation of Personal Services Income Regime, the Simplified Tax System and the PAYG Systems
• analyse the tax frameworks that apply when conducting a business through Companies, Trusts Partnerships or Sole Proprietors
• analyse business transactions in the context of the Goods and Services Tax
• apply the appropriate taxation rules that govern purchases and sales of a business.

Assessment

Within semester assessment: 30%
Examination (3 hours, open-book): 70%

Prerequisites

BTC3150

Prohibitions

BTC3350

Leader(s): Dr Bill Orow

Offered

Not offered in 2009

Synopsis

This unit provides an analysis of the law relating to the concepts of income and deductions, with a focus on the development of common law principles.

Objectives

The learning goals associated with this unit are to:

• analyse the nature and scope of the concepts of income at common law
• explain the rights and entitlements of taxpayers to deductions
• identify developments, statutory and judicial, pertaining to the notion of income
• identify developments, statutory and judicial, pertaining to the entitlement of taxpayers to deductions
• apply the manner and methods employed in the application of such principles to practical situations.

Assessment

Within semester assessment (optional): 30%
Examination (3 hours, open-book/take-home): 70% or 100%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF5200

Leader(s): Dr Bill Orow

Offered

Not offered in 2009

Synopsis

This unit provides a comprehensive and in-depth analysis of the legal principles that govern the taxation of trusts and partnerships and their application to specific commercial transactions.

Objectives

The learning goals associated with this unit are to:

• understand the manner in which the taxation system applies to trusts and partnerships
• develop a sound knowledge of the statutory and case law as well as administrative rulings of the Australian Taxation Office that relate to the taxation of trusts and partnerships
• apply the relevant principles to specific trust and partnership arrangements or transactions involving trusts and partnerships
• conduct relevant research of possible new developments in the law relating to the taxation of trusts and partnerships.

Assessment

Within semester assessment (optional): 30%
Examination (3 hours, open-book/take-home): 70% or 100%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF5210

Leader(s): Dr Bill Orow

Offered

Caulfield Summer semester B 2009 (On-campus block of classes)

Synopsis

An analysis of the law relating to the taxation of companies and shareholders, taxation of dividends, imputation, losses, debt and equity rules, consolidation of corporate groups, liquidations, capital reductions, share buy backs and international aspects of corporate taxation.

Objectives

The learning goals associated with this unit are to:

• identify and analyse taxation issues which arise in relation to companies and shareholders under the Income Tax Assessment Act 1936 (Cth)
• conduct research into, and give an informed view on the likely development of the law relating to, the taxation of companies and shareholders.

Assessment

Within semester assessment (optional): 30%
Examination (3 hours, open-book/take-home): 70% or 100%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF5520

Leader(s): Dr Bill Orow

Offered

Not offered in 2009

Synopsis

Topics include CGT assets, CGT events, calculation of net capital gains and losses, rollovers, application of the CGT regime to trusts, companies, shareholders, partnerships, and international aspects of the CGT regime.

Objectives

Upon completion of this unit, students should be able to: understand the manner in which the taxation system brings into account gains of a capital nature; develop a sound knowledge of the statutory and case law as well as administrative rulings of the Australian Taxation Office that relate to the taxation of capital gains; apply the relevant principles to specific commercial transactions whether in the form of business or investment that general capital gains; and conduct relevant research of possible new developments in the law relating to the taxation of capital gains. More specifically, students would develop a sound understanding of the nature and operation of CGT events that operate subject to taxation capital gains, the manner in which capital gains are calculated and the availability of rollovers and other concessions.

Assessment

Within semester assessment (optional): 30%
Examination (3 hours, open-book/take-home): 70% or 100%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF5230

Leader(s): Ken Devos

Offered

Caulfield First semester 2009 (Evening)

Synopsis

This unit provides a detailed analysis of the taxation of employees and contractors in Australia. Topics include: employer/employee relationship; independent contractors, PAYG collection system; payroll tax and other levies, employee deductions; fringe benefits; superannuation, share schemes and remuneration planning.

Objectives

The learning goals associated with this unit are to:

• explain the taxation implications of income received by employees and independent contractors in the workplace
• describe the administrative aspects of the income tax system
• explain the tax implications of superannuation and employee share schemes provided by employers
• calculate the tax position of employees and independent contractors in the workplace who receive fringe benefits and other types of remuneration.

Assessment

Within semester assessment: 30%
Examination (3 hours, open-book/take-home): 70% or 100%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTF3931

Prohibitions

BTF5240

Leader(s): Dr Bill Orow

Offered

Caulfield First semester 2009 (Evening)

Synopsis

This unit examines the assessment process and the legal avenues available to taxpayers to challenge an assessment. Within that continuum, this unit will examine the self-assessment process, ruling system, Commissioners' access powers, duties of confidentiality and disclosure, taxpayers' rights to information and the objection and appeal process.

Objectives

The learning goals associated with this unit are to:

• develop a sound knowledge and understanding of the statutory, case law and administrative rulings that relate to the administration of the Australian taxation system
• conduct relevant research of possible new developments in the law relating to tax administration
• examine the assessment process and the legal avenues available to taxpayers to challenge an assessment
• examine the self-assessment system, ruling system (private and public), Commissioners' access powers, duties of confidentiality and disclosure, taxpayers rights to information and the objection and appeal process.

Assessment

Within semester assessment (optional): 30%
Examination (3 hours, open-book/take-home): 70% or 100%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF5260

Leader(s): Dr Bill Orow

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

This unit provides an analysis of the taxation and regulatory regime relating to superannuation and retirement benefits.

Objectives

The learning goals associated with this unit are to:

• explain the superannuation system and regulatory regime in Australia
• explain taxation of superannuation benefits upon contribution and distribution
• identify planning issues and approaches to maximize superannuation and retirement benefits
• identify and evaluate developments and proposals for reform
• apply principles and methods.

Assessment

Within semester assessment (optional): 30%
Examination (3 hours, open-book/take-home): 70% or 100%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF5270

Leader(s): Dr Bill Orow

Offered

Caulfield Summer semester A 2009 (On-campus block of classes)

Synopsis

This unit examines the operation of the general residence and source rules, double taxation agreements, thin capitalisation rules, controlled foreign companies, Foreign Investment Funds, transfer of trusts, and a range of exemptions.

Objectives

The learning goals associated with this unit are to:

• understand the manner in which the taxation system applies to cross border arrangements and transactions
• develop a sound knowledge of the statutory and case law as well as administrative rulings of the Australian Taxation Office that relate to the taxation of international transactions and arrangements
• apply the relevant principles to specific transactions and arrangements involving foreign nationals
• conduct relevant research of possible new developments in the law relating to the taxation of international transactions
• examine the operation of the general residence and source rules, double taxation agreements, thin capitalisation rules, controlled foreign companies and a range of exemptions.

Assessment

Within semester assessment (optional): 30%
Examination (3 hours, open-book/take-home): 70% or 100%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF5280

Leader(s): Mr Tony van der Westhuysen

Offered

Not offered in 2009

Synopsis

This unit provides a detailed analysis of the various taxes that impact business transactions.

Objectives

The learning goals associated with this unit are:

• understand the constitutional and tax policy principles underlying business transactions taxes in Australia
• develop a sound knowledge of the statutory and case law as well as administrative rulings of the Australian Taxation Office and State Revenue Office that relate to these taxes, particularly the Goods and Services Tax (GST)
• apply the relevant principles to a range of specific business transactions involving liability for GST and other indirect taxes
• conduct relevant research of possible new developments in the law relating to GST and other indirect taxes.

Assessment

Within semester assessment (optional): 30%
Examination (3 hours, open-book/take-home): 70% or 100%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTF3931 or equivalent

Prohibitions

BTC3350, BTC4335, BTF5290

Leader(s): Dr Bill Orow

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)
Caulfield Full year 2009 (Day)

Synopsis

Under supervision, students are expected to undertake and report on an approved research project that addresses a contemporary and/or a significant issue in the field of taxation. Enrolment in BTF4310 Research project requires a student to submit a research proposal and have a supervisor appointed by the Course Director.

Objectives

The learning goals associated with this unit are to:

• conduct critical and analytical research at an advanced level in the field of taxation law
• present findings in writing in a manner that is logical and coherent.

Assessment

Within semester assessment: 100%

Contact hours

12 hours per week private research and consultation with supervisor

Prerequisites

Permission required

Leader(s): Dr Bill Orow

Offered

Not offered in 2009

Synopsis

This unit provides an analysis of the law relating to the concepts of income and deductions, with a focus on the development of common law principles

Objectives

The learning goals associated with this unit are to:

• analyse the nature and scope of the concepts of income at common law
• explain the rights and entitlements of taxpayers to deductions
• identify developments, statutory and judicial, pertaining to the entitlement of taxpayers to deductions
• apply the manner and methods employed in the application of such principles to practical situations.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF4200

Leader(s): Dr Bill Orow

Offered

Not offered in 2009

Synopsis

This unit provides a comprehensive and in-depth analysis of the legal principles that govern the taxation of trusts and partnerships and their application to specific commercial transactions.

Objectives

The learning goals associated with this unit are to:

• analyse the nature and scope of the concepts of trusts and partnerships at general law and statute
• explain the statutory framework for the taxation of trusts and partnerships
• evaluate the anti-avoidance principles and rules designed to limit the use of trusts for tax minimisation purposes
• identify developments, statutory and judicial, pertaining to the taxation of trusts and partnerships
• apply the manner and methods employed in the application of such principles to practical situations.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF4210

Leader(s): Dr Bill Orow

Offered

Caulfield Summer semester B 2009 (On-campus block of classes)

Synopsis

An analysis of the law relating to the taxation of companies and shareholders, taxation of dividends, imputation, losses, debt and equity rules, consolidation of corporate groups, liquidations, capital reductions, share buy backs and international aspects of corporate taxation.

Objectives

The learning goals associated with this unit are to:

• explain the nature and scope of the concept of corporation and corporate distributions at general law and statute
• explain the statutory framework for the taxation of companies and shareholders and the imputation system
• analyse the characterisation of interests in companies -- debt v equity
• identify corporate liquidations and some anti avoidance principles and rules designed to deal with capital and dividend streaming and substitution
• identify developments, statutory and judicial, pertaining to the taxation of companies and shareholders and the manner and methods employed in the application of such principles to practical situations.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week

Prerequisites

BTX9651

Prohibitions

BTF4220

Leader(s): Dr Bill Orow

Offered

Not offered in 2009

Synopsis

Topics include CGT assets, CGT events, calculation of net capital gains and losses, rollovers, application of the CGT regime to trusts, companies, shareholders, partnerships, and international aspects of the CGT regime.

Objectives

The learning goals associated with this unit are to:

• explain the nature and scope of gains that are potentially subject to the capital gains tax regime
• explain the statutory framework for the taxation of capital gains
• explain the characterisation of gains as gains on revenue and capital account
• analyse a wide range of CGT events and assets and the process of calculation of capital gains, international aspects of the regime, rollovers and the application of the regime to various entities like trusts and partnerships
• identify developments, statutory and judicial, pertaining to the taxation of capital gains and the manner and methods employed in the application of such principles to practical situations.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF4230

Leader(s): Mr Ken Devos

Offered

Caulfield First semester 2009 (Evening)

Synopsis

This unit provides a detailed analysis of the taxation of employees and contractors in Australia. Topics include: employer/employee relationship, independent contractors, PAYG collection system, payroll tax and other levies, employee deductions, fringe benefits, superannuation, share schemes and remuneration planning.

Objectives

The learning goals associated with this unit are to:

• explain the taxation implications of income received by employees and independent contractors in the workplace
• describe the administrative aspects of the income tax system
• explain the tax implications of superannuation and employee share schemes provided by employers
• calculate the tax position of employees and independent contractors in the workplace who receive fringe benefits and other types of remuneration.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF4240

Leader(s): Dr Bill Orow

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

This unit examines the operation of anti-avoidance rules such as Part IVA, dividend and trust stripping rules, capital and dividend streaming rules and taxation issues that relate to and arise from business taxation planning including the use of various business entities and managing the timing and character of receipts and payment.

Objectives

The learning goals associated with this unit are to:

• examine tax planning principles and methods including uses of alternative business structures and managing receipts and payments
• explain the concepts and principles (both statutory and common law) employed to deal with tax avoidance
• explain the risks associated with the potential application of the general and specific anti avoidance rules.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651 or equivalent

Prohibitions

BTF4250

Leader(s): Dr Bill Orow

Offered

Caulfield First semester 2009 (Evening)

Synopsis

This unit examines the assessment process and the legal avenues available to taxpayers to challenge an assessment. Within that continuum, this unit will examine the self-assessment process, ruling system, Commissioners' access powers, duties of confidentiality and disclosure, taxpayers' rights to information and the objection and appeal process.

Objectives

The learning goals associated with this unit are to:

• explain the taxation administration system in Australia as it relates to income tax and GST
• explain the rulings system including private and public
• explain objection and appeal mechanisms provided by the system
• identify judicial approaches to taxation administration and access powers
• identify developments, statutory and judicial, pertaining to taxation administration.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF4260

Leader(s): Dr Bill Orow

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

This unit provides an analysis of the taxation and regulatory regime relating to superannuation and retirement benefits.

Objectives

The learning goals associated with this unit are to:

• explain the superannuation system and regulatory regime in Australia
• explain taxation of superannuation benefits upon contribution and distribution
• identify planning issues and approaches to maximise superannuation and retirement benefits
• identify and evaluate developments and proposals for reform
• apply principles and methods.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF4270

Leader(s): Dr Bill Orow

Offered

Caulfield Summer semester A 2009 (On-campus block of classes)

Synopsis

This unit examines the operation of the general residence and source rules, double taxation agreements, thin capitalisation rules, controlled foreign companies, Foreign Investment Funds, transfer of trusts and a range of exemptions.

Objectives

The learning goals associated with this unit are to:

• explain concepts and principles employed to deal with international flow of funds
• explain common law doctrines that govern the taxation of Australians and foreign nationals such as residence and source
• analyse relevant anti avoidance rules designed to deal the uses and abuses of tax havens such as CFC, FIF and transferor trust rules
• identify developments, statutory and judicial, pertaining to international taxation
• apply principles and methods.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF4280

Leader(s): Mr Tony van der Westhuysen

Offered

Not offered in 2009

Synopsis

This unit provides a detailed analysis of the various taxes that impact business transactions.

Objectives

The learning goals associated with this unit are:

• understand the constitutional and tax policy principles underlying business transactions taxes in Australia
• develop a sound knowledge of the statutory and case law as well as administrative rulings of the Australian Taxation Office and State Revenue Office that relate to these taxes, particularly the Goods and Services Tax (GST)
• apply the relevant principles to a range of specific business transactions involving liability for GST and other indirect taxes
• conduct relevant research of possible new developments in the law relating to GST and other indirect taxes.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTX9651

Prohibitions

BTF4290, BTC4335, BTC3350

Leader(s): Dr Ashraf Kazi

Offered

Gippsland Second semester 2009 (Off-campus)

Synopsis

Topics include the Corporations Law scheme; the role and functions of the Australian Securities and Investments Commission; the concept of limited liability; the effect of registration; the corporate constitution; the company's relationship with outsiders; share and loan capital; regulation of public fund raising; duties of directors, officers and promoters; rights of members and minority shareholder protection; forms of corporate insolvency administrations, particularly as they affect creditors, officers and shareholders; trusts, trustees, beneficiaries and third parties.

Objectives

The learning goals associated with this unit are to:

• identify the important elements in the internal regulation of companies and how they may be used
• explain the nature of trusts, they way they operate and the rights and obligations of people involved in or dealing with trusts
• analyse hypothetical case studies and formulate a legal argument by the application of statute and case law
• critically evaluate the effectiveness of aspects of corporate law in the context of the changing needs of the community.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Prerequisites

BTG9270

Prohibitions

BTX9541

Leader(s): Mr Danny Khoury

Offered

Gippsland First semester 2009 (Off-campus)

Synopsis

This subject provides an introduction to Australian taxation law and practice. Topics include: Australian tax jurisdictional issues, assessable income from personal exertion, property and business, capital gains tax and fringe benefits tax, exempt income, deductions, both general and specific, accounting for trading stock, taxation of partnership, company and trust income, GST and tax avoidance and evasion.

Objectives

The learning goals associated with this unit are to:

• describe the constitutional and administrative framework in which the federal taxation system operates
• describe fundamental tax concepts, such as the concepts of income, capital, deductible expenses, residence of the taxpayer, source of income and derivation of income
• critically analyse the fundamental distinctions between
  1. receipts of income and capital and
  2. deductible and non deductible outgoings
• describe the special treatment given to different types of taxpayers, such as companies, trusts, partnerships and non-residents
• analyse (and apply) legislative provisions and court decisions relating to taxation matters.

Assessment

Within semester assessment: 30%
Examination (open-book): 70%

Prerequisites

BTG9270

Prohibitions

BTX9651

Leader(s): Ms Anne O'Rourke

Offered

Gippsland First semester 2009 (Off-campus)

Synopsis

Topics include introduction to the common law and legislation which controls the management of staff; instruction in the law affecting pre-contractual considerations for employment contracts, anti-discrimination law, selection, recruitment and termination of staff; workplace health and safety; industrial relations commissions and other legal fora, union relationships, industrial action; tortious liability of management; suspension and stand down.

Objectives

The learning goals associated with this unit are to:

• extend their knowledge and comprehension of the legal framework governing workplace relations in Australia
• evaluate the principles underlying employment laws and assess the law's impact on the employment relationship
• demonstrate a working knowledge of employment law issues through the application of legal principles to a range of hypothetical scenarios
• identify and analyse current issues involving legal regulation of the workplace

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Prohibitions

BTX5060, BTX9060

Leader(s): Mr Rhett Martin

Offered

Not offered in 2009

Synopsis

Aspects of the legal environment that affects financial decisions, transactions and relationships. Topics covered are chosen from the laws regulating the financing implications of different forms of business organisation; financial institutions; cheques, banking and the banker-customer relationship; electronic funds transfer; other negotiable instruments; the laws regulating business finances and security; consumer credit; guarantees; bankruptcy and insolvency law, and debt recovery.

Objectives

The learning goals associated with this unit are to:

• examine the core legal principles underlying the banker customer contract
• discuss the legal nature and uses of cheques
• define the legal issues in taking security for a loan with reference to mortgages and company charges
• examine key aspects of corporate and personal insolvency and its consequences
• evaluate and apply this knowledge to real world, practical examples.

Assessment

Within semester assessment: 30%
Examination: 70%

Prohibitions

BTC4320, BTC3200

Leader(s): Dr Ashraf Kazi

Offered

Gippsland First semester 2009 (Off-campus)

Synopsis

An introduction to the legal environment of business. Topics selected from contract law, negligence law, partnership law and trade practices law.

Objectives

The learning goals associated with this unit are to:

• examine and describe the structure of the Australian legal system
• identify, and examine the following topics: law of negligence, with particular emphasis on the law of negligent misstatement; relevant legislation such as the Trade Practices Act, Fair Trading Act and the Goods Act; the law of contract, with particular emphasis on the formation and contents of contracts, matters affecting the validity of a contract, and remedies for breach of contract; the law of agency and partnerships
• develop effective problem solving skills, with particular emphasis on identifying and analysing legal issues; explaining and applying relevant legal rules, cases, legislation and principles to given factual situations
• develop effective communication skills, with particular emphasis on the ability to articulate a sound argument
• develop a capacity for critical thought and analysis.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Prohibitions

BTX9020, MBA9002

Leader(s): Mr Wayne Gumley

Offered

Caulfield Second semester 2009 (Day)
Caulfield Summer semester B 2009 (On-campus block of classes)

Synopsis

Considering the nature and extent of environmental problems facing business in a global and resource constrained economy, and how the legal system encourages a transition to ecologically sustainable development. Topics include common law environmental rights and responsibilities, the role of government regulation and the role of corporations with particular emphasis upon legal mechanism to promote corporate environmental responsibility.

Objectives

The learning goals associated with this unit are to:

• identify and apply the various sources of environmental and planning law in Australia and to explain the role of relevant government agencies
• analyse and explain the application of environmental laws to corporations carrying out a range of business and development activities
• recommend and explain appropriate regulatory strategies to encourage corporate environmental responsibility in Australian and offshore business activities
• analyse and explain emerging trends in environmental law.

Assessment

Within semester assessment: 50%
Examination (2 hours): 50%

Contact hours

3 hours per week

Prohibitions

BTX5100

Leader(s): Dr Bill Orow

Offered

Caulfield Full year 2009 (Day)

Synopsis

Under supervision students are expected to undertake and report on an approved research project that addresses a significant issue in taxation or business law; this research proposal is likely to have substantial practical outcomes or implications; as well, it is hoped that students and supervisors will publish the work in an appropriate peer-refereed journal.

Objectives

The learning goals associated with this unit are to:

• submit a research proposal and have a supervisor appointed by the Course Director
• undertake an approved research project
• the project must address a contemporary and/or a significant issue in the field of taxation
• where appropriate, undertake comparative research and provide a report on findings.

Assessment

Within semester assessment: 100%

Co-requisites

Students must be enrolled in course BBus(Hons) (Taxation) to undertake this unit

Prohibitions

BTF4900

Leader(s): Mr Phillip Lipton

Offered

Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

This unit provides students with an appreciation of best corporate governance practices from a global perspective. It considers the reasons for the interest in corporate governance and compares and contrasts the various international corporate governance systems and best practice models; roles and functions of the board of directors, board committees and the board's relationship with management are explored from both a legal and management perspective; empirical studies of the relationship between corporate governance and corporate performance, and the role and legal duties of directors in takeover and insolvency contexts. Corporate governance issues in Asia are also analysed.

Objectives

The learning goals associated with this unit are to:

• describe the theories upon which corporate governance models are based, including the legal, economics and management perspectives of these theories
• evaluate the various international corporate governance systems and best practice models
• define the roles and functions of the board of directors and the board's relationship with management, shareholders and other stakeholders
• analyse the way in which corporate law, historical factors and economic institutions affect corporate governance
• critically analyse various aspects of corporate governance best practice.

Assessment

Within semester assessment: 60%
Open book examination (2 hours): 40%

Contact hours

3 hour class, block mode

Prohibitions

MGX5320

Leader(s): Mr Ken Devos

Offered

Clayton First semester 2009 (Evening)

Synopsis

The unit looks at all major issues surrounding Australian taxation law, including principles of assessable income and allowable deductions; capital gains tax; capital expenditure allowances; fringe benefits tax; the taxation of individuals, companies, partnerships and trusts; the administration of the tax system and the goods and services tax. The unit is aimed at students who are completing the CPA professional program.

Objectives

The learning goals associated with this unit are to:

• analyse and apply the appropriate taxation law for various income and capital receipts in given fact situations
• analyse and apply the appropriate taxation law for both general and specific deductions in given fact situations
• calculate the taxable value of various fringe benefits
• apply relevant principles in the taxation of individuals, partnerships, trusts and companies
• apply appropriate taxation law to transactions under the GST and Tax administration systems.

Assessment

Examination: 100%

Contact hours

3 hours per week

Prerequisites

Associate membership CPA Australia

Leader(s): Professor Paul von Nessen

Offered

Not offered in 2009

Synopsis

This unit is concerned with contemporary issues in corporate law in Australia and internationally and hence its content depends on the year in which it is offered. Essentially it will examine selected new areas of corporate law, contemporary issues and corporate law reform proposals.

Objectives

The learning goals associated with this unit are to:

• appreciate the theories upon which corporate law is based, including the legal, commercial and social contexts of these matters
• demonstrate a sound knowledge of key legal issues that affect the operation of corporations and critically evaluate whether these promote appropriate use of the corporate form from a commercial and economic perspective
• apply relevant statute and/or case law to analyse hypothetical case studies
• identify and evaluate how current developments corporate law affects the rights of shareholders and the legal duties of directors
• understand and evaluate how various law reform developments internationally will impact upon Australian corporate law and corporate governance best practice models to be applied in Australia.

Assessment

Within semester assessment: 60%
Examination (take-home): 40%.

Contact hours

3 hours per week

Prerequisites

BTX9541

Leader(s): Mr Paul Sugden

Offered

Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Evening)

Synopsis

This unit will examine the laws of intellectual property being copyright patents, trade marks, circuit layouts and plant breeders rights from the international treaties to the national implementation of these laws in Hong Kong, China, Australia, Malaysia, Singapore, European Union. The interrelation of the laws and the regions and their effects on the implementation of the remedies will also be effected.

Objectives

The learning goals associated with this unit are to:

• identify and analyse theories and international treaties protecting intellectual property
• compare and contrast the intellectual property protection between the countries examined in this course
• identify and analyse the international harmonisation of legal protection of creativity, inventions, and biological material by intellectual property laws
• analyse, evaluate and apply the intellectual property laws to a business and industry situation
• critically evaluate a self-selected contemporary issue in intellectual property and write a research paper on that topic.

Assessment

Within semester assessment: 50%
Examination 50%.

Contact hours

3 hours per week

Prohibitions

BTX9120

Leader(s): Ms Michelle Welsh

Offered

Not offered in 2009

Synopsis

Theoretical perspectives of corporate law and corporate regulation by an analysis of two or more jurisdictions chosen from Australia, Hong Kong, China, Singapore and Malaysia. Topics include the role and functions of the corporate regulator; concepts of limited liability and effects of the registration of a corporate entity; the role and duties of company directors; the role of the corporate regulator in the enforcement of those duties; the rights of shareholders; the regulation of public fundraising and forms of corporate insolvency administrations. This unit will provide a broad policy perspective on the issues studied, informed by their use of comprehensive comparative legal analysis.

Objectives

The learning goals associated with this unit are to:

• identify the scope and application of the corporate regulatory framework in Australia, Hong Kong and PRC
• analyse the similarities and differences between the corporate regulatory framework in Australia, Hong Kong and PRC
• analyse hypothetical case studies and formulate a legal argument by the application of statute and case law relevant to Australia, Hong Kong and PRC
• critically evaluate the significance of relevant judicial precedent and statutory provisions in Australia, Hong Kong and PRC.

Assessment

Within semester assessment: 50%
Examination: 50%

Contact hours

3 hours per week or intensive mode

Prerequisites

BTX4541 or equivalent

Leader(s): Mr Wayne Gumley

Offered

Caulfield First semester 2009 (On-campus block of classes)
Caulfield First semester 2009 (Off-campus)
Caulfield First semester 2009 (Evening)

Synopsis

The subject is designed to develop an understanding of types of insurance with an emphasis on general insurance: formation of the insurance contract and the role played by the Insurance Contracts Act 1984; the concept and role of an insurable interest; the indemnity concept including the role of averaging clauses; misrepresentations and how it affects the insurance contract; the roles played by insurance brokers and agents and the role played by the Insurance (Agents and Brokers) Act 1984 (Cth); notification and proof of loss; measurement of loss; subrogation concepts; and resolution of disputes.

Objectives

The learning goals associated with this unit are to:

• identify and apply the principles of insurance law associated with general insurance policies that are utilised in the corporate insurance programs, with particular focus upon the Insurance Contracts Act 1984 (Cth)
• analyse and explain the regulatory framework for the insurance industry including the role of APRA and the Prudential Standards for General Insurance companies
• analyse and explain the major legal issues associated with the operation of a corporate insurance program
• critically evaluate leading insurance cases
• recommend and explain appropriate reforms on at least one current issue of importance to corporate insurance programs.

Assessment

Within semester assessment: 100%

Contact hours

3 hours per week

Prerequisites

AFF9020

Prohibitions

BTX4031

Leader(s): Ms Paula Darvas

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

The unit aims to develop knowledge and understanding of the concept of CSR from a legal perspective. Topics include the legal and regulatory environment of corporations, the concept and definition of stakeholders, the application of CSR to specific stakeholder cohorts including employees, creditors, tort victims, consumers and the environment, and the enforceability of stakeholder claims.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Leader(s): Ms Alice de Jonge

Offered

Not offered in 2009

Synopsis

Trade and investment regimes affecting enterprises operating in the Asian region. International and regional trade conventions. Business and investment laws of selected Asian nations. Topics covered include national development planning; the political context of international trade and investment; import/export regulation; foreign investment regimes, corporate governance, prudential regulation in East Asia and dispute resolution.

Objectives

The learning goals associated with this unit are to:

• define and describe the history and current operation of regional trade and investment agreements in Asia
• describe and demonstrate an understanding of the historical, economic and political context of national legal systems in selected Asian jurisdictions (Malaysia, Indonesia, China and Hong Kong)
• identify and describe the operation of the institutions responsible for the administration of commercial laws in selection Asian jurisdictions
• have used accepted legal research methodology to examine in detail their choice from a number of specialised topics related to commercial law in one or more Asian jurisdictions
• identify, analyse and propose possible resolutions to legal issues arising from the conduct of business activities in one or more selected Asian jurisdictions.

Assessment

Within semester assessment: 60%
Examination (take-home): 40%

Contact hours

3 hours per week

Leader(s): Professor Christopher Arup

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

The unit aims to develop knowledge and skills, and an understanding of the relationship between the common law, statute law and awards and agreements. In this regard, the unit introduces students to the central tenets of the contract of employment including the formation of the contract, breach of contract and wrongful dismissal, confidentiality, restrictive covenants, employee/independent contractor issues and discrimination law.

Objectives

The learning goals associated with this unit are to:

• identify a wide range of legal issues affecting the employment relationship, with a particular focus on the contract of employment
• illustrate the practical implications of employment law by identifying emerging issues in the media, the workplace and the case law
• apply the legal principles from relevant cases to hypothetical scenarios
• evaluate the principles underlying employment laws and assess the law's impact on the employment relationship.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week

Prohibitions

BTX9060, BTG9241

Leader(s): Dr Anthony Forsyth

Offered

Caulfield First semester 2009 (Evening)

Synopsis

The unit aims to develop knowledge and skills, and an understanding of the collective aspects of the employment relationship, with a focus on the federal jurisdiction. In this regard, the unit examines the development of Australian labour law and includes consideration of the constitutional framework, conciliation and arbitration, the changing nature of awards, the role of the Australian Industrial Relations Commission, enterprise bargaining, industrial disputes, termination of employment, freedom of association and the regulation of trade unions.

Objectives

The learning goals associated with this unit are to:

• identify a wide range of legal concepts and issues affecting collective labour relations
• apply the legal principles from relevant cases to hypothetical scenarios
• assess the role and impact of the law on workplace relations
• evaluate the competing aims and purposes of labour law.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week

Prohibitions

BTX9070

Leader(s): Mr Anthony Forsyth

Offered

Caulfield Second semester 2009 (On-campus block of classes)

Synopsis

Issues included in the unit are theories and concepts concerning bargaining and dispute resolution, including alternative dispute resolution; the legal framework within which workplace bargaining and dispute resolution take place; examination of relevant case studies and alternative dispute resolution mechanisms.

Objectives

The learning goals associated with this unit are to:

• identify the theoretical and conceptual underpinnings of various approaches to workplace negotiation, bargaining and dispute resolution
• identify the various contexts in which workplace negotiation, bargaining and dispute resolution occur
• assess the behavioural styles and other factors (eg: gender) that influence the ways that different parties engage in workplace negotiation, bargaining and dispute resolution
• practically apply the relevant legal rules and bargaining techniques to hypothetical workplace negotiation, bargaining or dispute resolution scenarios.

Assessment

Within semester assessment: 100%

Contact hours

Intensive block mode

Prohibitions

MGX5080

Leader(s): Ms Shelley Marshall

Offered

Caulfield Winter semester 2009 (On-campus block of classes)

Synopsis

This unit examines the laws governing not for profit organisations including corporations law, Incorporated Associations Acts, tax law, trusts and the roles of various regulators. It also explores various techniques of good governance -- going beyond legal compliance -- including board procedure, reporting, stakeholder engagement and accountability.

Objectives

The learning goals associated with this unit are to:

• have a sound understanding of the existing regulatory framework for not for profit organisations, including associations, corporate, trust and tax laws, and how this framework both differs from and overlaps with business organisations
• have a good understanding of the role and diversity of the not for profit sector in the Australian economy
• have an appreciation of the unique governance challenges facing directors and managers of NFP organisations given the range of stakeholders and volunteers
• have a good understanding of the regulatory challenges for this diverse sector, including the policy elements of a regulatory environment which might be conducive to an accountable and healthy not for profit sector
• appreciate the variety of techniques of good governance -- going beyond legal compliance -- including board procedure, reporting, stakeholder engagement and accountability.

Assessment

Within semester assessment: 20%
Take home examination: 80% or Within semester assessment: 100%

Contact hours

Intensive, block unit, 39 hours

Prerequisites

BTX9020

Leader(s): Mr Wayne Gumley

Offered

Caulfield Second semester 2009 (Evening)
Caulfield Summer semester B 2009 (On-campus block of classes)

Synopsis

Considering the nature and extent of environmental problems facing business in a global and resource constrained economy, and how the legal system encourages a transition to ecologically sustainable development. Topics include common law environmental rights and responsibilities, the role of the government regulation and the role of corporations with particular emphasis upon legal mechanisms to promote corporate environmental responsibility.

Objectives

The learning goals associated with this unit are to:

• identify and apply the various sources of environmental and planning law in Australia and to explain the role of relevant government agencies
• analyse and explain the application of environmental laws to corporations carrying out a range of business and development activities
• recommend and explain appropriate regulatory strategies to encourage corporate environmental responsibility in Australian and offshore business activities
• recommend and explain appropriate legal reforms to enhance corporate environmental responsibility and business sustainability in general

Assessment

Within semester assessment: 50%
Examination (2 hours): 50%

Contact hours

3 hours per week

Prohibitions

BTX4100

Leader(s): Mr Paul Sugden

Offered

Not offered in 2009

Synopsis

This subject will address the legal issues that arise from the ease and manner in which information can now be transmitted and accessed by the Internet. The legal framework for the use of the Internet in business and commerce will be explored. Particular legal aspects to be studied will include contract law, intellectual property (including copyright law), privacy issues, criminal aspects and security concerns.

Objectives

The learning goals associated with this unit are to:

• identify and analyse the international agreements establishing the Internet
• analyse and apply the laws affecting Internet business transactions to a range of commercial situations
• identify and analyse the legal risks and liabilities for business arising from the lack of geographical boundaries in the Internet
• compare and contrast the forms of regulation used by governments to regulate conduct on the Internet
• identify, analyse and apply the laws providing protection to the Internet itself as a computer program.

Assessment

Within semester assessment: 50%
Examination (3 hours, open-book): 50%

Contact hours

3 hours per week

Prerequisites

BTX9020

Prohibitions

BTC3640, BTF5121, BTW3641, BTF3641, LAW7213, BTC3644, BTC4364

Leader(s): Ms Alice De Jonge

Offered

Caulfield First semester 2009 (Off-campus)
Caulfield First semester 2009 (Evening)

Synopsis

The unit examines the principles of international law governing the legal relations between international states or other international legal persons. To this end a study will be made of the sources of international law and the relationship of international and municipal law. Specifically, the course will outline the principles relating to territory, personality, state responsibility, recognition, jurisdiction, air, space and sea law, dispute settlement and the law of treaties.

Objectives

The learning goals associated with this unit are to:

• define and describe the distinctive nature of international law and some of its basic doctrines and subject areas
• identify the sources of international law, and explain the principles which govern the use of those sources
• describe the structures and institutions of international law, and be able to use the vocabulary of international law
• analyse the increasing impact of international law on Australian domestic law, as well as on the domestic legal systems of other states
• demonstrate a capacity to conduct research on, and to critically analyse, a specific aspect of public international law

Assessment

Within semester assessment: 50%
Examination (take-home): 50%

Contact hours

3 hours per week

Leader(s): Mr Rhett Martin

Offered

Caulfield First semester 2009 (Evening)

Synopsis

Topics include legal background to financial systems; banker and customer; payment systems; capacity and authority to borrow and grant security; lending on the security of land; lending on the security of goods; lending on the security of proceeds; invalidation of company securities; insolvency.

Objectives

The learning goals associated with this unit are to:

• define the main legal structures of the Australian banking system
• critically analyse the main legal characteristics of cheques, bills of exchange and promissory notes and their uses
• explain the law in respect to securities, including mortgages, company charges and guarantees
• assess the modern Australian payment system with specific reference to electronic payments and credit cards
• assess the modern regime for corporate and personal insolvency and its legal consequences.

Assessment

Within semester assessment: 30%
Examination (3 hours, open-book): 70%

Contact hours

3 hours per week

Prohibitions

BTX4001, BTX9380

Leader(s): Mr Brendan Sweeney

Offered

Not offered in 2009

Synopsis

The unit aims to develop an understanding of the legal and administrative framework governing the regulation of competition and consumer protection, including the operations of the Regulator. The unit also aims to develop an understanding of industrial property law (patents, copyright, designs and trade marks), particularly an ability to recognise and make the choices that confront commercial entities when implementing an effective industrial property policy. Finally, the unit aims to develop an understanding of the manner in which domestic regulation forms part of international regulation.

Objectives

The learning goals associated with this unit are to:

• identify, analyse and apply the laws designed to protect consumers
• identify and analyse the laws protecting intellectual property and apply those laws to the development and marketing of new products and ideas.
• identify, analyse and apply the laws regulating a range of competition practices
• work productively in a team to research and present a class paper that critically analyses a contemporary development in the are of competition or marketing law
• critically evaluate a contemporary development in the area of competition or marketing law and write a research paper on the topic.

Assessment

Within semester assessment: 50%
Examination: 50%

Contact hours

3 hours per week

Prohibitions

BTX9150

Leader(s): Associate Professor Paul Latimer

Offered

Caulfield Winter semester 2009 (On-campus block of classes)

Synopsis

A study of some of the laws regulating securities and financial markets from the policy perspective of what they are trying to achieve. The unit opens with the economic, legal and constitutional framework. Topics include the role of the market regulator; what is a 'security'; aspects of securities regulation legislation; relevant trade practices law; licensing; computerisation; internationalisation.

Objectives

The learning goals associated with this unit are to:

• define the purposes and scope of the regulation of financial markets
• analyse the economic, legal and constitutional framework of financial services
• critically evaluate the co-regulatory roles of ASIC and ASX
• evaluate the impact of competition law, computerisation and internationalisation on the financial services sectors.

Assessment

Within semester assessment: 60%
Examination (2.5 hours): 40%

Contact hours

One 2.5 hour session per week

Prohibitions

BTX4180

Leader(s): Dr Alice De Jonge (Semester 1); Mr Toan Le (Semester 2)

Offered

Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)
Prato Winter semester 2009 (On-campus block of classes)

Synopsis

Topics include law of international trade, including rights and duties in international sales transactions; legal regimes governing contracts for carriage of goods internationally; distribution agreements; legal aspects of financing international trade; shipping documents, documentary collections and letter of credit; marine and aviation insurance; international dispute resolution.

Objectives

The learning goals associated with this unit are to:

• define the purpose and scope of the international legal framework in which trade between nations takes place
• re able to recognise and understand the form and nature of documents used in international trade including contracts of sale, shipping documentation, invoices, insurance policies, bills of exchange, documentary collections and letters of credit
• be able to identify and understand legal issues in an international trade context
• be able to apply the laws relating to international contracts of sale, international carriage of goods and finance of international trade in a variety of situations
• be able to write a coherent piece of advice discussing the legal issues arising in an international trade dispute.

Assessment

Within semester assessment 30%
Examination (3 hours) 70%

Contact hours

3 hours per week

Prohibitions

BTX9190, LAW7028, LAW7209

Leader(s): Dr Bill Orow (Tax) and Mr Philip Lipton (Business Law)

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)
Caulfield Full year 2009 (Day)

Synopsis

The minor thesis requires a student to undertake original research on an approved topic in the relevant field and to present that research in a paper of between 20,000 and 25,000 words in length. A topic has to be chosen in conjunction with the appointed supervisor from within the Department of Business Law and Taxation. The minor thesis is expected to be of sufficient standard and practical relevance so as to be suitable for publication in a peer-reviewed journal.

Objectives

The learning goals associated with this unit are to:

• formulate a thesis topic
• define appropriate research questions
• critically analyse relevant literature
• substantiate the thesis
• present a thesis of publication standard between 20,000 and 25,000 words.

Assessment

Within semester assessment: 100%

Contact hours

24 hours per week private research

Co-requisites

Students must be enrolled in the MTax or MBL programs

Prohibitions

BTF5320

Offered

Not offered in 2009

Objectives

The learning goals associated with this unit are to:

• develop an understanding of the management of retirement funds by boards of management
• develop the capacity to analyse the fiduciary duties of trustees
• explain the constraints of investments of retirement benefits
• develop a comprehensive understanding of the operational issues of retirement funds including amendments to funds, dissolution, amalgamation and transfers.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Offered

Not offered in 2009

Objectives

The learning goals associated with this unit are to:

• develop an understanding of the taxation of retirement funds
• develop the capacity to analyse the tax implications on retirement benefits
• apply and in-depth understanding of the taxation principles applicable to retirement funds
• explain the constraints of taxation and investments of retirement funds.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Co-requisites

MGX5000, MGX5900

Leader(s): Dr Bill Orow

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)

Synopsis

Under supervision, students are expected to undertake and report on an original research project that addresses a significant issue (or issues) in business law or taxation; this research proposal is likely to have substantial practical outcomes or implication; as well, it is hoped that students and supervisors will publish the work in an appropriate peer-refereed journal.

Objectives

The learning goals associated with this unit are to:

• formulate a research topic
• critically analyse relevant literature
• substantiate the conclusions reached
• present a research project of between 5,000 and 8,000 words.

Assessment

Within semester assessment: 100%

Prerequisites

Permission required

Co-requisites

Students must be enrolled in course 3159 to undertake this unit

Prohibitions

BTF5800

Leader(s): Phillip Lipton

Offered

Not offered in 2009

Synopsis

This unit requires students to formulate a research topic on a business law related area of study and complete an approximately 8,000 word research project. Seminars will be conducted at which students will present progress and final reports on their research projects. The seminars will also include practical research and academic skills sessions.

Objectives

The learning goals associated with this unit are to:

• enable students to apply acquired analytical legal skills to a research project of their choice
• acquire in depth knowledge and a critical interest in a business law area
• demonstrate legal research and presentation skills and the ability to critically analyse legal issues have been acquired
• develop and further build upon general legal research and academic skills
• further build upon presentation skills, both verbal and written, involving the communication of abstract ideas.

Assessment

Research project (8,000 words): 100%

Contact hours

Six 3-hour seminars

Prerequisites

It is recommended that this unit be undertaken in the last semester of study for the Master of Business Law.

Leader(s): Ms Carolyn Sutherland

Offered

Caulfield First semester 2009 (On-campus block of classes)

Synopsis

The unit aims to develop knowledge and skills relating to the legal principles which underpin contemporary human resource management issues. It includes consideration of such matters as recruitment and selection, contract of employment issues, performance appraisal, equal opportunity and anti-discrimination, termination of employment, remuneration, rewards and employee benefits, employee health and safety and related HRM issues. The unit takes a practical approach to these matters and focuses specifically on practical case studies and decisions of the Courts and Tribunals.

Objectives

The learning goals associated with this unit are to:

• identify a wide range of legal issues affecting the human resources practitioner
• illustrate the practical implications of the law in the area of human resources management by identifying emerging issues in the media, the workplace and the case law
• apply the legal principles from relevant cases to hypothetical scenarios involving human resources management issues
• evaluate the principles underlying employment laws and assess the law's impact on the employment relationship.

Assessment

Within semester assessment: 40%
Examination (take-home): 60%

Contact hours

3 hours per week

Prohibitions

BTX9841

Leader(s): Mr Philip Lipton

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)
Caulfield Full year 2009 (Day)

Synopsis

Under supervision students are expected to undertake and report on an original research project that addresses a significant issue (or issues) in business law; this research proposal is likely to have substantial practical outcomes or implications; as well, it is hoped that students and supervisors will publish the work in an appropriate peer-refereed journal.

Objectives

The learning goals associated with this unit are to:

• formulate a research topic
• define appropriate research questions
• critically analyse relevant literature
• substantiate the original conclusions reached
• present a research project of between 12,000 and 15,000 words.

Assessment

Major research project (12,000 - 15,000): 100%

Contact hours

Private research

Prerequisites

Students must be enrolled in course 3159 to undertake this unit

Prohibitions

BTF5900

Leader(s): Mr Andrew Coleman

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)
Prato Winter semester 2009 (On-campus block of classes)

Synopsis

An introduction to the legal environment of business. Topics selected from contract law, negligence law, agency, partnership law and trade practices law.

Objectives

The learning goals associated with this unit are to:

• examine and describe the structure of the Australian legal system
• identify, and examine the following topics: law of negligence, with particular emphasis on the law of negligent misstatement; relevant legislation such as the Trade Practices Act, Fair Trading Act and the Goods Act; the law of contract, with particular emphasis on the formation and contents of contracts, matters affecting the validity of a contract, and remedies for breach of contract; the law of agency and partnerships
• develop effective problem solving skills, with particular emphasis on identifying and analysing legal issues; explaining and applying relevant legal rules, cases, legislation and principles to given factual situations
• develop effective communication skills, with particular emphasis on the ability to articulate a sound argument
• develop a capacity for critical thought and analysis, in particular to critically evaluate a self-selected contemporary law reform proposal or current development in business law.

Assessment

Within semester assessment: 30%
Examination: 70%

Contact hours

3 hours per week

Prohibitions

BTG9270, MBA9002

Leader(s): Professor Christopher Arup

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

The unit aims to develop knowledge and skills, and an understanding of the relationship between the common law, statute law and awards and agreements. In this regard, the unit introduces students to the central tenets of the contract of employment including the formation of the contract, breach of contract and wrongful dismissal, confidentiality, restrictive covenants, employee/independent contractor issues and discrimination law.

Objectives

The learning goals associated with this unit are to:

• identify a wide range of legal issues affecting the employment relationship, with a particular focus on the contract of employment
• illustrate the practical implications of employment law by identifying emerging issues in the media, the workplace and the case law
• apply the legal principles from relevant cases to hypothetical scenarios

• evaluate the principles underlying employment laws and assess the law's impact on the employment relationship.

Assessment

Within semester assessment: 30%
Examination (take-home): 70%

Contact hours

3 hours per week

Prohibitions

BTG9241, BTX5060

Leader(s): Dr Anthony Forsyth

Offered

Caulfield First semester 2009 (Evening)

Synopsis

The unit aims to develop knowledge and skills, and an understanding of the collective aspects of the employment relationship, with a focus on the federal jurisdiction. In this regard, the unit examines the development of Australian labour law and includes consideration of the constitutional framework, conciliation and arbitration, the changing nature of awards, the role of the Australian Industrial Relations Commission, enterprise bargaining, industrial disputes, termination of employment, freedom of association and the regulation of trade unions.

Objectives

The learning goals associated with this unit are to:

• identify a wide range of legal concepts and issues affecting collective labour relations
• apply the legal principles from relevant cases to hypothetical scenarios
• assess the role and impact of the law on workplace relations
• evaluate the competing aims and purposes of labour law.

Assessment

Within semester assessment: 30%
Examination (take-home): 70%

Contact hours

3 hours per week

Prohibitions

BTX5070

Leader(s): Mr Paul Sugden

Offered

Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Evening)

Synopsis

This unit will examine the laws of intellectual property being copyright patents, trade marks, circuit layouts and plant breeders rights from the international treaties to the national implementation of these laws in Hong Kong, China, Australia, Malaysia, Singapore, European Union. The interrelation of the laws and the regions and their effects on the implementation of the remedies will also be effected.

Objectives

The learning goals associated with this unit are to:

• identify and analyse theories and international treaties protecting intellectual property
• compare and contrast the intellectual property protection between the countries examined in this course
• identify and analyse the international harmonisation of legal protection of creativity, inventions, and biological material by intellectual property laws
• analyse, evaluate and apply the intellectual property laws to a business and industry situation
• critically evaluate a self-selected contemporary issue in intellectual property and write a research paper on that topic.

Assessment

Within semester assessment: 25%
Examination (3 hours, open-book): 75%

Contact hours

One 3-hour class per week for a semester. 39 hours of classes in intensive block-mode.

Leader(s): Dr Alice De Jonge (Semester 1); Mr Toan Le (Semester 2)

Offered

Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)
Sunway First semester 2009 (Day)
Sunway Second semester 2009 (Day)
Prato Winter semester 2009 (On-campus block of classes)

Synopsis

Topics include law of international trade, including rights and duties in international sales transactions; legal regimes governing contracts for carriage of goods internationally; distribution agreements; legal aspects of financing international trade; shipping documents, documentary collections and letters of credit; marine and aviation insurance; international dispute resolution.

Objectives

The learning goals associated with this unit are to:

• define the purpose and scope of the international legal framework in which trade between nations takes place
• recognise and understand the form and nature of documents used in international trade including contracts of sale, shipping documentation, invoices, insurance policies, bills of exchange, documentary collections and letters of credit
• identify and understand legal issues in an international trade context
• apply the laws relating to international contracts of sale, international carriage of goods and finance of international trade in a variety of situations
• write a coherent piece of advice discussing the legal issues arising in an international trade dispute.

Assessment

Within semester assessment: 50%
Examination (3.5 hours): 50%

Contact hours

3 hours per week

Prohibitions

BTX5190, LAW7028, LAW7209

Leader(s): Mr Rhett Martin

Offered

Caulfield First semester 2009 (Evening)

Synopsis

Topics include legal environment of the Australian financial system; banker-customer relationship; liability for advice; the impact of the Trade Practices Act; negotiable instruments; letters of credit; standby credits; guarantees; electronic banking; Bankers' Codes of Conduct; Banking Ombudsman; Privacy; securities.

Objectives

The learning goals associated with this unit are to:

• define the main legal structures of the Australian banking system
• critically analyse the main legal characteristics of cheques, bills of exchange and promissory notes and their uses
• explain the law in respect to securities, including mortgages, company charges and guarantees
• assess the modern Australian payment system with specific reference to electronic payments and credit cards
• assess the modern regime for corporate and personal insolvency and its legal consequences.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prohibitions

BTX4001, BTX5131

Leader(s): Mr Phillip Lipton

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)
Prato Winter semester 2009 (On-campus block of classes)

Synopsis

This unit provides an introduction to the important areas of business law and corporations law. The topics include contract law, negligence, trade practices legislation, agency, characteristics of a company, directors' duties, share capital, members' remedies and corporate insolvency.

Objectives

The learning goals associated with this unit are to:

• identify the important elements in business law and the regulation of companies and how they may be applied
• understand the important features and characteristics of companies as a form of business organisation
• analyse hypothetical case studies and formulate a legal argument by the application of statute and case law
• develop critical research skills
• critically evaluate the effectiveness of aspects of business law and corporate law in the context of the changing needs of the community.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prerequisites

Students must be enrolled in course code 0790 or 0826

Co-requisites

Students must be enrolled in one of the following courses: 0748, 0790, 0826, 3843, 3849, 4402 to undertake this unit.

Prohibitions

BTX9020, BTX9541, MBA9002

Leader(s): Ms Michelle Welsh (Semester 1); Mr Phillip Lipton (Semester 2)

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Evening)

Synopsis

Topics include the Corporations Act scheme; the role and functions of the Australian Securities and Investments Commission; the concept of limited liability; the effect of registration; the corporate constitution; the company's relationship with outsiders; share capital; regulation of public fund raising; duties of directors, officers and promoters; rights of members and minority shareholder protection; forms of corporate insolvency administrations, particularly as they affect creditors, officers and shareholders; trusts, trustees, beneficiaries and third parties.

Objectives

The learning goals associated with this unit are to:

• identify the important elements in the regulation of companies and how they may be used
• analyse hypothetical case studies and formulate a legal argument by the application of statute and case law
• critically evaluate the effectiveness of aspects of corporate law in the context of the changing needs of the community.

Assessment

Within semester assessment: 30%
Examination: 70%

Contact hours

3 hours per week

Prerequisites

BTX9020 or MBA9002, or equivalent

Prohibitions

BTG9220

Offered

Not offered in 2009

Objectives

The learning goals associated with this unit are to:

• develop and understanding of the South African retirement funds industry
• develop the capacity to analyse reasons why employers would want to set up retirement funds
• describe the determination of death benefits
• explain the function and features of investments of retirement funds.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week.

Offered

Not offered in 2009

Objectives

The learning goals associated with this unit are to:

• develop the ability to analyse the legal constraints on the determination of death benefits
• developed an understanding of the legal framework governing retirement benefits payable by retirement funds
• explain the legal functions and feature of administrators of retirement funds.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Offered

Not offered in 2009

Objectives

The learning goals associated with this unit are to:

• develop the capacity to analyse obligations of employers in respect of contributions to retirement funds and the statutory administration obligations
• develop the ability to describe and explain the functions of the consultants, administrators, trustees, principle officers, actuaries and the Registrar of the FSB in respect of administration of retirement funds
• evaluate the difference between defined benefits and defined contribution schemes and the administration practices.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Offered

Not offered in 2009

Objectives

The learning goals associated with this unit are to:

• develop an understanding of the retirement benefits payable by retirement funds
• develop the understanding of and be able to explain disability benefit
• develop an understanding of how the legal system differentiates benefits between pension and provident funds.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Offered

Not offered in 2009

Objectives

The learning goals associated with this unit are to:

• develop the capacity to analyse obligations of employers in respect of contributions to retirement funds and governance
• have the ability to describe the determination of death benefits and trustees discretionary powers
• explain the function and features of governance and administration of retirement funds.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Leader(s): Mrs Mei-Ling Barkoczy

Offered

Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Evening)
Caulfield Summer semester A 2009 (On-campus block of classes)

Synopsis

Topics include GST income and exempt income; allowable deductions; special classes of taxpayers including trusts, partnerships and companies; objections and appeals; capital gains tax; fringe benefits tax; superannuation; eligible termination payments; tax collection; tax avoidance.

Objectives

The learning goals associated with this unit are to:

• identify and explain the constitutional and administrative framework within which the federal taxation system operates
• calculate income tax and goods and services tax liabilities
• identify and analyse fundamental tax concepts such as the distinction between income and capital
• apply legislative provisions and judicial principles to practical taxation problems and provide supporting evaluations through the application of statutory and case law principles.

Assessment

Within semester assessment: 30%
Examination (3 hours, open-book): 70%

Contact hours

3 hours per week

Prerequisites

BTX9020 or BTX9500 or MBA9002

Prohibitions

BTG9270

Leader(s): Mr Wayne Gumley

Offered

Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Off-campus)
Caulfield Second semester 2009 (Weekend On-campus)

Synopsis

This unit considers the nature of legal risk and their importance in modern business operations, with particular consideration of the common law and statutory obligations faced by employers, corporate directors and business managers, particularly with respect to occupational health and safety risks, corporate governance and environmental obligations and including consideration of litigation and other formal procedures for dispute resolution.

Objectives

The learning goals associated with this unit are to:

• identify the major sources of legal risk faced by business managers
• identify and apply the various legal principles that may impose liability upon business owners and managers, across a range of areas that may include: the law of business entities, contract and tort, workplace law, banking and lending law, directors duties, environmental law and corporate social responsibility
• recommend and explain appropriate strategies to minimise the legal risks identified above.

Assessment

Within semester assessment: 60%
Examination (2 hours, open-book): 40%

Contact hours

3 hours per week

Prohibitions

BTF9760

Leader(s): Ms Carolyn Sutherland

Offered

Caulfield First semester 2009 (On-campus block of classes)

Synopsis

The unit aims to develop knowledge and skills relating to the legal principles which underpin contemporary human resource management issues. It includes consideration of such matters as recruitment and selection, contract of employment issues, performance appraisal, equal opportunity and anti-discrimination, termination of employment, remuneration, rewards and employee benefits, employee health and safety and related HRM issues. The unit takes a practical approach to these matters and focuses specifically on practical case studies and decisions of the Courts and Tribunals.

Objectives

The learning goals associated with this unit are to:

• identify a wide range of legal issues affecting the human resources practitioner
• illustrate the practical implications of the law in the area of human resources management by identifying emerging issues in the media, the workplace and the case law
• apply the legal principles from relevant cases to hypothetical scenarios involving human resources management issues
• evaluate the principles underlying employment laws and assess the law's impact on the employment relationship.

Assessment

Within semester assessment: 30%
Examination (take-home): 70%

Contact hours

3 hours per week

Prohibitions

BTX5841

Leader(s): Dr Rob Hyndman

Offered

Caulfield Second semester 2009 (Evening)

Objectives

The learning goals associated with this unit are to:

• acquire the necessary quantitative skills to conduct high quality independent research related to business administration
• acquire a comprehensive grounding in a number of quantitative methods of data production and analysis
• consider and evaluate data collection instruments, sampling strategies and the appropriateness of archival data for a research purpose
• assess research design including experimental designs, observational studies, case studies, longitudinal analysis and cross-sectional analysis
• conduct quantitative data analysis of a suitable multivariate data set through a practical research activity.

Co-requisites

Students must be enrolled in course code 3186 to undertake this unit.

Offered

Not offered in 2009

Co-requisites

Students must be enrolled in course code 3186 to undertake this unit.

Offered

Caulfield Full year 2009 (Day)

Objectives

The learning goals associated with this unit are to:

• review and evaluate critically the literature in a candidate's domain of research in business administration, OR
• research a topic chosen by the candidate and supervisor, AND
• submit a report on the candidate's research.

Co-requisites

Students must be enrolled in course code 3186 to undertake this unit.

Offered

Caulfield Full year 2009 (Day)

Objectives

The learning goals associated with this unit are to:

• develop, design and implement a research methodology to conduct a research study
• analyse and evaluate data or information collected using the methodology
• explore the implications of the study for theory and practice, OR
• research a topic chosen by the candidate and supervisor, AND
• submit a report on the candidate's research.

Co-requisites

Students must be enrolled in course code 3186 to undertake this unit.

Offered

Caulfield Full year 2009 (Day)

Objectives

The learning goals associated with this unit are to:

• interact in a semi-structured environment in order to test research ideas through seminar presentations on a candidate's research proposal and progress
• contribute to the development and improvement of co-candidates' research phases through interactive class discussions.

Co-requisites

Students must be enrolled in course code 3186 to undertake this unit.

Leader(s): Dr Leah Kaye

Offered

Caulfield First semester 2009 (Evening)

Synopsis

This unit looks at a number of current issues in business, in order to provide a broader perspective than might be achieved by narrow specialisation in either particular units or research reports. Current issues have been selected for their topicality, appropriateness and mix of theory and practice.

Objectives

The learning goals associated with this unit are to:

• explore in-depth current issues in business administration
• consider how current issues contribute to competitive advantage
• engage in the debate over issues which are often intractable and determine how these affect business now or in the future
• examine the literature in-depth to assist in better understanding management roles.

Assessment

Within semester assessment: 100%

Offered

Caulfield Full year 2009 (Day)

Objectives

The learning goals associated with this unit are to:

• carry out independent research critically and analytically at an advanced level
• present a candidate's research in the form of a research portfolio capable of being examined externally
• make a significant contribution to the knowledge and understanding of the discipline.

Co-requisites

Students must be enrolled in course code 3186 to undertake this unit.

Leader(s): Professor Charmine Hartel

Offered

Not offered in 2009

Objectives

The learning goals associated with this unit are to:

• acquire an advanced understanding of a wide range of qualitative research methods applicable in different business environments
• collect qualitative data using a variety of research techniques
• design probability and non-probability samples for conducting qualitative research
• analyse and evaluate qualitative data
• design research proposals that are business useful, relevant, practical and integrated with the business environment.

Co-requisites

Students must be enrolled in course code 3186 to undertake this unit.

Leader(s): Professor Peter Forsyth

Offered

Clayton First semester 2009 (Day)
Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

This unit gives students an understanding of the economic dimensions of climate change. It does this by examining how climate change directly will impact on economies, and by examining how climate change mitigation policies, such as emissions trading schemes will impact on economies. It discusses and evaluates Australia's approaches to climate change mitigation. Finally, the subject explores the problems in securing international agreement for action to address climate change.

Objectives

The learning goals associated with this unit are to:

• provide students with an understanding of the possible impacts of climate change on economies
• analyse the economic costs of climate change, and how industries can adapt to climate change at minimum cost
• provide students with an understanding of how economic instruments such as carbon taxes and emissions trading schemes can mitigate climate change
• analyse how key industries such as electricity and transport can respond to climate

Assessment

Within semester assessment: 30%
Examination (2 hours): 70%

Contact hours

3 hours per week

Prerequisites

ECC1000

Co-requisites

ECC1100

Leader(s): Dr Mark Picton

Offered

Clayton First semester 2009 (Day)
Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

The theory and applications of applied general equilibrium modelling. Introduction to associated issues in data compilation and computing. The study uses elementary calculus and matrix algebra.

Assessment

Within semester assessment: 20%
Examination (3 hours): 80%

Contact hours

Two 1.5-hour lecture/tutorials per week

Prerequisites

ECC2000 and ECC2010 or equivalent; or permission

Prohibitions

ECC3650

Leader(s): Dr Larry Cook

Offered

Clayton First semester 2009 (Day)
Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

Economics of financial assets, markets, intermediaries, regulation and innovation; money aggregates; behaviour of interest rates; loan funds analysis; risk and term structure of interest rates; adverse selection and moral hazard; independence of central banks; determinants of the money supply and the conduct of monetary policy in Australia; theories of money demand; money supply and economic activity; Keynesian-monetarist debate; transmission mechanisms of monetary policy; money and inflation; monetary implications of budget deficits; volatility in foreign exchange markets; the international financial system; capital controls; role of the IMF; international monetary policy strategy.

Assessment

Within semester assessment: 25%
Examination (2 hours): 75%

Contact hours

Two 1.5-hour lecture/tutorials per week

Prerequisites

ECC2000 and ECC2010 or equivalent

Prohibitions

ECC3660

Leader(s): Professor Pushkar Maitra

Offered

Clayton First semester 2009 (Day)

Synopsis

This unit provides an analytical framework for studying economic problems of developing countries. We will examine how standard economic theories apply in the presence of market failures and weak formal institutions that characterise developing countries. The key focus is on general problems facing developing countries rather than any specific country or region. It examines specific issues and policy problems that are currently faced by developing nations, including issues such as inequality, poverty, population growth, rural-urban migration, human capital accumulation, gender bias, markets in developing countries, credit constraints and risk and insurance.

Assessment

Within semester assessment: 30%
Examination (2 hours): 70%

Contact hours

3 hours per week

Prerequisites

ECC2000

Prohibitions

ECC3670

Leader(s): Dr Daniel Mulino

Offered

Clayton Second semester 2009 (Day)
Australia (Other) Second semester 2009 (Off-campus block of classes)

Synopsis

Investigation of economic interaction between countries in the context of international exchanges of commodities and assets. Topics include the balance of payments, nominal and real exchange rate determination, international capital movements, foreign debt, structural reform and adjustment policies in the open economy, the gains from international trade, inter-industry trade, tariff policies.

Assessment

Within semester assessment: 20%
Examination (2 hours): 80%

Contact hours

3 hours per week

Prerequisites

ECC2000 and ECC2010 or equivalent

Prohibitions

ECC3690

Leader(s): Dr Dyuti Banerjee

Offered

Clayton First semester 2009 (Day)
Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

Contrasting theoretical models of the labour market, with emphasis on the neo-classical model, wage efficiency model and internal labour markets; analysis of the role of trade unions in the labour market; theory of discrimination in the labour market; contrasting theoretical views of the Phillips curve; application of this analysis to a discussion of issues with an emphasis on contemporary issues such as labour market flexibility, discrimination and unemployment.

Assessment

Within semester assessment: 35%
Examination (2 hours): 65%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 0181, 0024 or 0171to undertake this unit

Prohibitions

ECC3710

Leader(s): Dr Michael White

Offered

Clayton Second semester 2009 (Day)
Australia (Other) Second semester 2009 (Off-campus block of classes)

Synopsis

The work of Richard Cantillon, David Hume, Adam Smith, David Ricardo, Thomas Malthus and Karl Marx with special reference to the economics of value, distribution and accumulation. The work of W S Jevons, Alfred Marshall and J M Keynes with special reference to economic policies proposed by those writers.

Assessment

Within semester assessment: 50%
Examination (2 hours): 50%

Contact hours

3 hours per week

Prerequisites

Any two second-year economics units

Prohibitions

ECC3800

Leader(s): Dr Matthew Dobra

Offered

Clayton Second semester 2009 (Day)
Australia (Other) Second semester 2009 (Off-campus block of classes)

Synopsis

The relationship between the public and private sectors is explored from the perspective of both public finance and political economy. Theories of public expenditure and revenue generation are introduced to assess the proper scope of the public sector. Additionally, theories of public choice are presented to examine the effectiveness and decision-making process of the public sector.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Contact hours

3 hours per week

Prerequisites

ECC2000

Prohibitions

ECC3810

Leader(s): Professor Peter Forsyth

Offered

Clayton First semester 2009 (Day)
Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

Economic policy as it affects business, particularly in relation to its dealings with consumers, and with emphasis on Australian industry and regulation; analysis of policies with respect to prices, monopolies, oligopolies and mergers, exclusive dealing, consumer protection and licensing, corporatisation, privatisation and deregulation; criteria for efficient industry and efficient industry policy; methods for the practical analysis of the performance of industries.

Assessment

Within semester assessment: 30%
Examination (2 hours): 70%

Contact hours

3 hours per week

Prerequisites

ECC1000 and ECC1100

Prohibitions

ECC3830

Leader(s): Associate Professor Christis Tombazos

Offered

Clayton Second semester 2009 (Day)
Australia (Other) Second semester 2009 (Off-campus block of classes)

Synopsis

The unit will cover, in mathematical terms, many of the areas treated more intuitively in first-year microeconomics, eg: consumer demand, the theory of the firm, equilibrium and Pareto optimum. However, a significant portion of the lectures will deal with topics not covered earlier, such as non-linear programming, game theory, and dynamic optimisation.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prerequisites

ECC2000 or equivalent

Prohibitions

ECC3840

Leader(s): Associate Professor Christis Tombazos

Offered

Clayton First semester 2009 (Day)
Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

Topics include consumer preference theory; choice; demand; technology; profit maximisation and duality; competitive general equilibrium in the context of decreasing, increasing and constant returns; two-part tariffs; expected utility; adverse selection; and moral hazard.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prohibitions

ECX5465

Leader(s): Dr Steph Miller

Offered

Clayton First semester 2009 (Day)
Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

Contemporary macroeconomics and recent policy debates, including market clearing and long-run equilibrium; classical dichotomy; money in the global economy; aggregate demand and price rigidity, microfoundations of macroeconomics, disequilibrium models; stock-flow interactions; wealth effects; rational expectations; policy ineffectiveness and Ricardian equivalence; money and credit; exchange rate regimes; new Keynesian macroeconomics; comovements of macro variables and macroeconomic forecasting.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prohibitions

ECX5466

Leader(s): Professor Pushkar Maitra

Offered

Clayton First semester 2009 (Day)

Synopsis

Characteristics and experience of developing countries; theories of economic growth and development; domestic and external sources of financial and human resources for development; the roles of international trade, investment, technology manufacturing and government in the development process.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Prerequisites

ECC3670

Leader(s): Associate Professor Christis Tombazos

Offered

Clayton Second semester 2009 (Day)
Australia (Other) Second semester 2009 (Off-campus block of classes)

Synopsis

Topics include the gains and costs of trading internationally; static and dynamic welfare effects of protection; the political economy of international trade policy; optimum policies in the presence of market power, uncertainty, and other market imperfections; trade policy instruments; strategies for trade liberalisation including regional trade agreements.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prerequisites

ECC4650 and ECC3690

Leader(s): Professor Peter Forsyth

Offered

Australia (Other) First semester 2009 (Off-campus Evening)

Synopsis

Outline of the Australian and overseas approaches to competition policy; the economic background to the Trade Practices Act; market definition issues; evaluation of restrictive trade practices and mergers or alliances; structural reform of industries, access and monopoly regulation.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prohibitions

ECX5470

Leader(s): Dr Mike White

Offered

Australia (Other) Second semester 2009 (Off-campus block of classes)

Synopsis

Topics include Keynes' aggregate demand and supply analysis and critique of automatic adjustment in the economy; the significance of an endogenous money supply for inflation; credit, speculation and financial instability; the national saving debate; investment and income distribution; the Phillips Curve and hysteresis.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Leader(s): Professor Russell Smyth

Offered

Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

The unit applies the method of economics to the analysis of the law itself - to the structure of the common law, legal processes, legal institutions and statutory regulation, and to the impact of law on the behaviour of individuals and groups and the functioning of the economy. Topics include: is there a role for law and economics in studying the law, economics of crime and capital punishment, punitive damages, interest group theories of judicial independence and the determinants of judicial influence and prestige.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course code 0181, 0024 or 0171 to undertake this unit

Prohibitions

ECX5472

Leader(s): Dr Steph Miller

Offered

Clayton Second semester 2009 (Day)
Australia (Other) Second semester 2009 (Off-campus block of classes)

Synopsis

Theories of hedging and speculation; determination of spot and futures prices, and intertemporal allocation; market efficiency; expectations, including adaptive expectations and rational expectations.

Assessment

Within semester assessment: 100%

Contact hours

3 hours per week

Prerequisites

ECC4650 or equivalent

Prohibitions

ECX5475

Leader(s): Professor Peter Forsyth

Offered

Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

Topics include development and application of microeconomic theory for the economic evaluation of (public) sector investment projects and policies; investment analysis and criteria, discounting techniques; Pareto potential improvement criterion, shadow pricing, social discount rates, distribution issues, secondary benefits, risk and uncertainty, cost-effectiveness.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Prerequisites

ECC4650 or equivalent

Prohibitions

ECX5479

Leader(s): Dr Birendra Rai

Offered

Clayton Second semester 2009 (Day)
Australia (Other) Second semester 2009 (Off-campus block of classes)

Synopsis

Models of decision making in the collective setting, utilising a number of tools, some of which will be familiar microeconomic ones. Economic approaches to collective decision environments, including 'new welfare economics', the 'Chicago' and 'Virginia' schools. Whenever possible, Australian policies will be examined in light of theory.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prerequisites

ECC3810

Leader(s): Professor Yew-Kwang Ng

Offered

Clayton First semester 2009 (Day)
Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

A study of theories in welfare economics, including conditions for Pareto optimality, welfare criteria, social choice, consumer surpluses, second versus third best, externalities and public goods as well as problems of applying these theories to such areas as public utility pricing, optimal taxation, road congestion, environmental protection, and public spending.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Leader(s): Dr Dyuti Banerjee

Offered

Clayton Second semester 2009 (Day)
Australia (Other) Second semester 2009 (Off-campus block of classes)

Synopsis

Theories of the firm, contract, property rights structure, market structure, hierarchy, bargaining, principal-agent relationship, research and development, advertising, and entry, exit, and pricing strategy. The equilibrium implications of the internal organisation of a firm and the organisational structure of the market in relation to strategic interactions between agents, information problems and related incentive mechanisms. Basic game theory and concepts of game equilibrium applied to the analysis of opportunistic behaviour and related transactions costs.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prerequisites

ECC2830

Prohibitions

ECC5484

Leader(s): Associate Professor He-Ling Shi

Offered

Clayton Full year 2009 (Day)
Clayton Second semester to First semester 2009 (Day)
Australia (Other) Full year 2009 (Off-campus block of classes)
Australia (Other) Second semester to First semester 2009 (Off-campus block of classes)

Synopsis

Topics for seminar presentation are selected in consultation with the coordinator. A list of possible topics will be distributed but students are encouraged to propose subjects of interest to them, based in their own discipline. Students present one paper, act as formal discussant on another, and are expected to engage in discussion of others.

Assessment

Within semester assessment: 100%

Contact hours

One 1.5-hour seminar per week

Prerequisites

Admission to fourth year honours, Graduate Diploma in Economics or preliminary masters in the Departments of Economics, Econometrics or Accounting and Finance

Leader(s): Professor Jeff Richardson and Ms Jenny Watts

Offered

Clayton First semester 2009 (Day)
Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

A survey of theoretical issues in the economics of health systems and the major health policy issues confronting Australia. Emphasis is given to theories which differ from economic orthodoxy. Topics include market characteristics; market failure and regulation; equity and issues of social justice; demand analysis and human capital; the production of health and health care; theories of price formation; hospital models and hospital payment; optimal health insurance; and alternatives to Medicare.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Leader(s): Mr Anthony Harris

Offered

Australia (Other) Second semester 2009 (Off-campus block of classes)

Synopsis

Principles and techniques used in the economic evaluation of health services. Topics include effectiveness, efficiency and economic evaluation; cost benefit analysis; cost effectiveness and cost utility analysis; multi-attribute utility analysis; measuring utility; psychometric measurement theory; ethical issues in resource allocation; decision criteria; time discounting; costing.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Prerequisites

ECC4650

Leader(s): Dr Simon Angus

Offered

Clayton First semester 2009 (Day)

Synopsis

Neoclassical theories of demand, supply, and equilibrium at a level that permits rigorous analysis. Introduction to game theory. Topics include the existence theorem of utility functions, properties of demand and supply functions, existence and Pareto optimality of competitive equilibrium, and various equilibrium concepts of non-cooperative games.

Objectives

The learning goals associated with this unit are to:

• deepen understanding of microeconomic analysis acquired during undergraduate training
• undertake rigorous analysis of microeconomic issues, including the determinants of relative prices and their effects on resource allocation
• learn some more advanced analyses going beyond the traditional model and taking account of some real-world complications
• acquire proficiency in handling optimisation problems and have a basic understanding of general equilibrium analysis.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course code 3194 to undertake this unit

Leader(s): Dr Ratbek Dzhumashev

Offered

Clayton First semester 2009 (Day)

Synopsis

Underpinnings of modern macroeconomics basic to models of growth and cyclical fluctuations as well as models of monetary and fiscal policies. Topics include neoclassical and endogenous growth theories; overlapping generations models with and without money; policy ineffectiveness issues; equilibrium business cycle as well as traditional Keynesian models of fluctuations; and models of incomplete nominal adjustment such as those of New-Keynesian and the Lucas-Supply variety.

Objectives

The learning goals associated with this unit are to:

• understand the basic theoretical structures common to modern dynamic macroeconomics. In particular, critical analysis of the economic reasons underlying the formation of policy and movements of various macro-aggregates
• understand the key determinants affecting economic growth and fluctuations
• enhance understanding of the basic theoretical approaches employed in specialist fields such as international economics, economic development/growth, applied general equilibrium and financial economics.

Assessment

Within semester assessment: 60%
Examination (2 hours): 40%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course code 3194 to undertake this unit

Leader(s): Professor Ranjan Ray

Offered

Clayton First semester 2009 (Day)

Synopsis

Evaluation of the neoclassical trade model and its extensions; foreign direct investment, capital flows and technology transfer; alternative explanations of comparative advantage including increasing returns and imperfect competition; geography and trade; new growth models; micro- and macroeconomic reform, structural change and factor mobility; institutions, transaction costs and rent seeking; theories of the state; the political economy of liberalisation and stabilisation.

Objectives

The learning goals associated with this unit are to:

• gain an understanding of advanced theories in the areas of international and development economics
• identify the linkages between the two major areas of open economy analysis
• formulate policies on the basis of sound theoretical foundations and, correspondingly, to evaluate policy proposals
• acquire the skills necessary to assess critically new theoretical developments in this area.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Prerequisites

ECC4690 or ECC4670

Leader(s): Mr Anthony Harris

Offered

Clayton First semester 2009 (Day)
Clayton Second semester 2009 (Day)

Synopsis

Students will be required to spend a minimum of ten working weeks in an approved organisation to undertake a period of industry-based learning. This project must be approved by the course coordinator. The employer will provide students with a practical project designed to reinforce principles taught during the coursework component of the Postgraduate Diploma. Working in a relevant setting accelerates learning, encourages understanding and gives practical breadth to theoretical concepts. The subject coordinator will normally liaise with the nominated supervisor at the place of work during the period of assignment and discuss progress with student, employer and local supervisor.

Objectives

The learning goals associated with this unit are to:

• provide some basic research training and an introduction to applied research in the field of health economics
• allow application of principles taught in the unit to policy and research questions.

Assessment

Within semester assessment: 100%

Contact hours

10-week practicum

Prerequisites

Students must have satisfactorily completed seven units in 0967 to undertake this unit

Leader(s): Professor John Madden

Offered

Clayton Second semester 2009 (Day)

Synopsis

The unit is a sequel to ECC3650. Students continue to develop essential AGE modelling skills in areas of theory, data, computing and application. Whereas the emphasis in ECC3650 is on comparative static analysis, this subject deals with dynamics, including the specification of capital accumulation and technological change. Forecasting applications of AGE models are emphasised.

Objectives

The learning goals associated with this unit are to:

• have an advanced understanding of all aspects of applied general equilibrium economics
• be able to build and to use AGE-models in the preparation for postgraduate research projects
• be able to implement AGE-modelling techniques as professional economists.

Assessment

Within semester assessment: 20%
Examination (3 hours): 80%

Contact hours

3 hours per week

Prerequisites

ECC3650

Leader(s): Professor Ranjan Ray

Offered

Clayton Full year 2009 (Day)

Synopsis

This graduate seminar unit is compulsory for PhD candidates and Master of Economics candidates in the Department of Economics. It is a non-weighted unit and is taken in addition to any prescribed coursework. Students will be assessed on the basis of attendance, participation and presentation. PhD candidates are required to present two seminars, Master of Economics candidates are expected to present one seminar. Seminar presentations must be made prior to submission of a candidate's research paper or thesis.

Objectives

The learning goals associated with this unit are to:

• extend advanced knowledge of the breadth of economics beyond area of specialisation
• develop skills for consolidation and dissemination of research findings
• develop oral and presentational skills required for effective presentations of research findings to peer audiences
• refine debating skills in professional peer settings.

Leader(s): Dr Birendra Rai

Offered

Clayton Second semester 2009 (Day)

Synopsis

Topics in the theory of public goods including optimum conditions analysis; market failure and problems of political decision-making in relation to the supply of pure and impure public goods; separation of equity and efficiency aspects; possible applications to such issues as income redistribution, merit wants, pollution control and multi-level government.

Objectives

The learning goals associated with this unit are to:

• be familiar with the welfare framework, economic concepts and theoretical economic analysis of public goods at an advanced level
• be familiar with advanced economic analysis of political decision-making in the public choice literature
• have a sophisticated understanding of the implications of public goods analysis for government policy in major areas of public expenditure
• have a sophisticated appreciation of the limitations and deficiencies of theoretical and empirical economic analysis in this general area.

Assessment

Within semester assessment: 100%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course code 3194 to undertake this unit

Leader(s): Associate Professor Vai-Lam Mui

Offered

Clayton Second semester 2009 (Day)

Synopsis

This unit provides students with training in information economics and applied game theory. Discussion of key concepts in game theory; the nature of different kinds of information asymmetries (whether the informed party has private knowledge about certain events, whether he/she can undertake actions unobservable to others); and economic implications. Explore how different incentive mechanisms (signalling by the informed party and screening by the uninformed party) can be used to mitigate the impact of asymmetric information.

Objectives

The learning goals associated with this unit are to:

• understand the key concepts in game theory, as well as the nature and economic implications of different kinds of information asymmetries
• understand how different incentive mechanisms -- for example, signalling by the informed party and screening by the uninformed party may be useful in mitigating the impact of asymmetric information on economic activities
• critically evaluate the extent to which a particular application of information economics and game theory succeeds in generating new testable implications regarding the phenomena under study
• construct formal models to study the importance of informational problems in explaining phenomena that are of interest to them.

Assessment

Within semester assessment: 50%
Examination (2 hours): 50%

Contact hours

3 hours per week

Prerequisites

ECC5650

Leader(s): Associate Professor Vai Lam Mui

Offered

Clayton First semester 2009 (Day)

Synopsis

Mathematical preliminaries; static optimisation theory; introduction to calculus of variations and optimal control theory; necessary and sufficient conditions; investment theory: costs of adjustment, neoclassical, Q theory; consumption theory; use of duality theory; growth models; Hamilton Jacobi theory; discrete time stochastic models; selected current applications.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Leader(s): Mr Anthony Harris

Offered

Clayton Second semester 2009 (Day)

Synopsis

The achievement of efficiency in the health sector. Alternative approaches to allocative efficiency, recent developments in the management of the market, and efficiency in hospitals. Aspects of evaluation techniques including recent developments in quality of life measurement, statistical issues, and modelling techniques.

Objectives

The learning goals associated with this unit are to:

• undertake sound research in health economics
• have knowledge of the major issues in health economics and the capacity to judge the importance of these issues
• function as independent professional health economist.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Prerequisites

ECC4650 and ECC4870

Leader(s): Professor Yew-Kwang Ng

Offered

Clayton First semester 2009 (Day)

Synopsis

Advanced topics in microeconomics and current research and policy issues. Topics may include an in-depth study of general equilibrium, mesoeconomics, new classical economics of specialisation, transaction costs, and inframarginal analysis, principal agent models and incentive regulation.

Objectives

The learning goals associated with this unit are to:

• possess technical proficiency to initiate and pursue PhD level research
• be capable of developing an original research topic
• be in a position to undertake research in microeconomics and related fields.

Assessment

Option1: Within semester assessment: 100%
Option 2: Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 0029 to undertake this unit

Leader(s): Professor Jakob Madsen

Offered

Clayton Second semester 2009 (Day)

Synopsis

Advanced topics in macroeconomics, current research and policy issues. The topics may include an in-depth study of consumption, investment, inflation and monetary policy, unemployment, and empirical applications.

Objectives

The learning goals associated with this unit are to:

• possess technical proficiency to initiate and pursue PhD level research
• be capable of developing an original research topic
• be in a position to undertake research in macroeconomics and related fields.

Assessment

Within semester assessment: 100%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course code 0029 to undertake this unit

Leader(s): Professor Ranjan Ray

Offered

Clayton First semester 2009 (Day)

Synopsis

A research forum for the exploration of new directions in research and advanced specialist topics in open economy analysis. Students will be introduced to the forefront of contemporary analytical developments that are relevant for policy formation. The scope of the subject encompasses the pure theory of international trade, open economy macroeconomics and international finance, and development economics.

Objectives

The learning goals associated with this unit are to:

• possess first-hand knowledge of the contemporary research agenda in the economics of the open economy
• be conversant with the evolving research literature that is represented in working papers and formal publications of leading researchers at home and abroad
• possess the qualifications to undertake technically advanced research assignments that are of contemporary analytical and policy relevance
• gain practical experience in, and understanding of PhD level research work.

Assessment

Within semester assessment: 100%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course code 0029 to undertake this unit

Leader(s): Dr Elias Khalil and Dr Dyuti Banerjee

Offered

Clayton First semester 2009 (Day)
Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

The behaviour of the economy is the result of a host of decisions made each day by millions of people. Prices and markets play a crucial role in economic behaviour, creating a system in which actions of individuals, guided by self-interest and without any central co-ordination or planning, create wealth for society as a whole. How individual workers, households and firms make decisions, and how they interact with each other, is the subject of microeconomics.

Objectives

The learning goals associated with this unit are to:

• understand how markets work, and how prices work to allocate resources
• understand the basic principles of how people make economic decisions, how they interact economically, and how the economy as a whole works
• understand the role of public policy, and the constraints on its operation, when markets fail
• understand how firms are organized and make decisions
• have developed learning skills and begun to acquire the techniques of thinking like an economist
• have sufficient grounding to attempt advanced studies in microeconomics in subsequent years.

Assessment

Within semester assesment: 40%
Examination (2 hours): 60%

Contact hours

3 hours per week

Prohibitions

ECC2000, ETC2000

Leader(s): Dr Steph Miller and Dr Michael White

Offered

Clayton First semester 2009 (Day)
Clayton Second semester 2009 (Day)
Australia (Other) First semester 2009 (Off-campus block of classes)
Australia (Other) Second semester 2009 (Off-campus block of classes)

Synopsis

This unit focuses on macroeconomic theory and policy; managing aggregate demand; economic growth and fluctuations. Content covers the following topics in detail:

• open-economy IS-LM framework and AD-AS framework
• principles of monetary and fiscal policy and problems of implementation
• alternative theories of aggregate supply; imperfect information; labour market rigidities
• explaining and correcting inflation and unemployment.

Objectives

On completion of this subject students should be able to:

• analyse systematically the forces that determine change in macroeconomic performance and living standards in Australia
• understand the relationship between the domestic economy and the international economic environment as reflected in the behaviour of the balance of payments and exchange rates
• evaluate critically the issues underlying important contemporary policy debates in Australia and elsewhere
• understand the nature and relevance of some significant recent developments in macroeconomics
• practice rigorous economic analysis and put that to constructive use in decision-making.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Contact hours

3 hours per week

Prohibitions

ECC2010, ETC2010

Leader(s): Associate Professor Vai-Lam Mui

Offered

Clayton Second semester 2009 (Day)
Australia (Other) Second semester 2009 (Off-campus block of classes)

Synopsis

Issues include incentives and credibility problems in microeconomic policy making in both developed and developing economies, with particular attention to topics such as microeconomic issues in the public sector, the role of institutions, and the critical evaluation of microeconomic policy. Students are expected to build on basic microeconomics knowledge and to exhibit an understanding of the policy context.

Objectives

The learning goals associated with this unit are to:

• apply economic theory and institutional knowledge of relevant parts of the economy to analyse government microeconomic policy options, and to make recommendations on policy actions
• understand developments in policy debates in other countries and consider their impact on recent economic policies implemented in Australia
• evaluate the contributions and limitations of economic analysis for helping to understand and to evaluate microeconomic policy options.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Contact hours

3 hours class contact or equivalent per week

Prerequisites

ECC9000

Prohibitions

ECC2400

Leader(s): Dr James Ang and Dr Asadul Islam

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

Senior positions in government and corporations expect professionals to have a high level of research competence. This subject is designed to impart this skill by requiring students to select a project in their area of specialisation and submit a 9000 word report and an oral presentation. Students will work closely with a personal supervisor to ensure that the research paper locates and masters new knowledge and demonstrates originality in both research content and intellectual argument.

Objectives

The learning goals associated with this unit are to:

• consolidate knowledge of issues specific to the respective areas of specialisation
• develop analytical and diagnostic skills and enhance the ability to analyse and resolve problems of practical importance
• broaden the experience with research methods applied to practical problems and demonstrate a capacity for original work, both in terms of locating new knowledge and its application
• acquire skills in the written presentation of applied research work
• hone oral skills and acquire experience in demonstrating the capacity in research and exposition in seminars attended by senior practitioners from the private and corporate sectors.

Assessment

Within semester assessment: 100%

Contact hours

One 2-hour seminar per week

Co-requisites

Students must be enrolled in course 3842 to undertake this unit

Leader(s): Dr He-Ling Shi

Offered

Not offered in 2009

Synopsis

The Nasdaq might be unstable but e-commerce has arrived and is an important aspect of the new global economy. This subject investigates the economics of e-commerce: how e-commerce is changing the transactions costs of international trade and within an organisation the economics of production; whether e-commerce improves market transparency and competition; the risks of e-commerce; the impact of e-commerce on production, inflation and growth. We analyse how governments foster competitiveness and the response of companies to the new opportunities.

Objectives

The learning goals associated with this unit are to:

• appreciate the theory of transaction cost analysis and how this applies to e-commerce
• understand the practical economic impact of e-commerce on transactions costs within the global economy and Australia and the wider impact of e-commerce on production, inflation and aggregate economic growth
• grasp how e-ecommerce impacts on the economics of competition and in turn requires regulation
• demonstrate an understanding of the unit in written and oral work which stresses the policy implications of e-commerce for various players in the global economy, the role of regulation and how this regulation impacts on the transactions costs of e-commerce.

Assessment

Within semester assessment: 50%+ Examination (3 hours): 50%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 3842 to undertake this unit

Leader(s): Dr Pushkar Maitra

Offered

Not offered in 2009

Synopsis

Knowledge driven industries and services are amongst the most rapidly growing areas of the world economy. This subject looks at the emergence of Knowledge-Based Economies (KBE) and their impact on the Asia-Pacific region by analysing: definitions and measurement of KBE; theoretical and economic policy issues about the KBE in less developed countries; why governments have promoted KBE; the contribution of KBE to productivity and global competitiveness; the growth of KBE hubs in, eg: India, Malaysia and Hong Kong.

Objectives

The learning goals associated with this unit are to:

• have a firm analytical and practical grasp of the problems of defining and measuring knowledge-based economic indicators
• understand how and why governments in the Asia-Pacific are encouraging the emergence of knowledge-based industries and services
• understand the special economic pressures which the emphasis on knowledge-based industries/services are placing on developing countries like India and Malaysia and developed economies like Australia
• demonstrate analytical, oral and written skills through various assignments designed to emphasise the practical application of knowledge to particular economies and economic decision-makers.

Assessment

Within semester assessment: 50%+ Examination (3 hours): 50%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course 3842 to undertake this unit

Leader(s): Dr Mita Bhattacharya

Offered

Not offered in 2009

Synopsis

The unit develops and examines the theoretical and empirical relationships between the structure of industries, the behaviour of enterprises and market performance. The fundamental principles are applied to the advanced analysis of various forms of firms' interaction: entry deterrence, collusion, product differentiation, advertising, RandD, price discrimination, vertical integration. Welfare and policy issues will be discussed with the help of applied theory and empirical approach. In this respect recent journal articles will be used to analyse the concepts.

Objectives

The learning goals associated with this unit are to:

• to promote students understanding of the industry in which firms compete
• to understand strategic concepts and the use of such concepts with regard to economics, management, and organisational behaviour thereby developing an economic framework or way of thinking
• to understand the question 'how do we define the firm?', and the relationship of the definition of the firm to the 'make or buy' problem
• to establish an understanding of the dynamics of entry and exit in the marketplace by looking at strategies that incumbents employ to prevent entry or quicken exit by competitors
• to develop a competitive advantage framework for characterising and analysing a firm's strategic position within the market.

Assessment

Within semester assessment: 55%
Examination (2 hours): 45%

Contact hours

3 hours per week

Prerequisites

ECF4100 or ECC4650 or equivalent and ECF4200 or ECC4660 or equivalent

Offered

Not offered in 2009

Synopsis

This unit examines application of advanced economic theories and analytical tools to innovation processes and high technology product markets. Topics to be covered include: consumer behaviour with regard to high technology and information products; costs, market structures, and competition in high technology and information product markets; product quality and life circle; switching costs and network effects in consumers' and producers' decision making with regards to innovation and high technology products; economic aspects of intellectual property rights.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%.

Contact hours

3 hours per week

Prerequisites

ECF4100 or ECC4650 or equivalent

Prohibitions

ECW2123

Leader(s): Professor Chongwoo Choe

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

Game theoretic analysis is fundamental to understanding modern business strategies and forms the basic infrastructure of strategy courses. The unit teaches the basic tools of Game Theory, and introduces a structured way to think about business interactions. Game theory originated in the middle of the twentieth century as the general study of strategic interactions and has found applications in a wide variety of contexts including economics, psychology, politics and evolutionary biology. It is this generality that is the source of its power. Accordingly, the unit develops game theory broadly with applications to strategic situations, including business as well as more general contexts.

Objectives

The learning goals associated with this unit are to:

• to develop a broad understanding of the basic principles of strategic analysis including solution concepts
• to apply the abstract theory to concrete problems.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Prerequisites

ECF4100 or ECC4650 or equivalent and ECF4200 or ECC4660 or equivalent

Leader(s): Associate Professor He-Ling Shi

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

This unit will draw on different fields of applied economics such as applied general equilibrium economics, monetary economics, international economics, labour economics, public finance, and international trade and finance. The studies in these areas will be drawn together by research workshops where students present research papers in their chosen topic.

Objectives

The learning goals associated with this unit are to:

• develop appreciation of major economic dimensions of the environment in which business operates such as public sector and policy, regulatory frameworks, international linkages
• have a solid grounding in specific applications of economic analysis
• develop the ability to integrate the use of economic analysis of different settings
• develop analytical and writing skills in preparing research papers
• develop oral communication skills and gain experience in presenting economic analysis to non-specialist audiences.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Prerequisites

ECF5420

Leader(s): Associate Professor Ian Wills

Offered

Not offered in 2009

Synopsis

We link the study of environmental economics to the practical needs of modern corporations and sustainable economic development. Corporations that fail to factor environmental economics into their plans, suffer penalties ranging from the loss of reputation to severe corporate damage. We analyse the concepts, signals and incentives from governments, customers and citizens which influence corporations in the use of natural resources. The evolution of sustainable development policies by governments and the applicability of these to corporations is also analysed.

Objectives

The learning goals associated with this unit are to:

• understand environmental economic theories and the ways in which governments, customers and citizens provide private industry with information and incentives which can motivate corporations to use natural resources in ways which minimise environmental harms
• have a sound grasp of how and why governments have found it necessary to develop policies about sustainable economic development and the environment
• have an analytical appreciation of the costs of ignoring environmental economics as exemplified by various case studies of protests against Australian firms in Australia and abroad
• understand the types of economic and environmental policies which corporations can adopt in order to avoid the stigma and economic losses associated with bad environmental performance
• demonstrate a grasp of this unit in written and oral work which recognises both the economic costs of ignoring the principles of environmental economics when using natural resources and the potential contribution of corporate sustainability policies to the competitiveness of international firms.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Co-requisites

Students must be enrolled in course code 3842 to undertake this unit

Leader(s): Dr Rebecca Valenzuela

Offered

Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Off-campus)
Sunway First semester 2009 (Day)
Sunway Second semester 2009 (Day)

Synopsis

Topics include an introduction to basic micro and macroeconomics, the economic importance of trade, barriers to international trade, the regionalisation of trade, exchange rate determination, balance of payments theory, the domestic impact of the international economy, foreign direct investment and multinational corporations, capital flows and currency crisis.

Objectives

The learning goals associated with this unit are to:

• understand developments in the international economy and interpret their impact on the Australian economy and individual Australian companies
• critically evaluate government policy to the extent it affects international competitiveness
• develop a sound knowledge of Australia's role in the international economy and of at least one other country.

Assessment

Within semester assessment: 30%
Examination (2.5 hours): 70%

Contact hours

3 hours per week

Leader(s): Dr Mita Bhattacharya and Dr Rebecca Valenzuela

Offered

Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Evening)
Clayton Second semester 2009 (On-campus block of classes)

Synopsis

Microeconomics: scarcity; economic choice; economic systems; economic ideology; demand and supply analysis; consumer behaviour and elasticity; costs of production and profit maximisation; perfect competition and monopoly. Macroeconomics: aggregate demand and aggregate supply; Keynesian versus Neoclassical approaches; the money market and monetary policy; the government budget deficit and fiscal policy; the foreign exchange market and exchange rate policy; unemployment and inflation; the current and capital accounts.

Objectives

The learning goals associated with this unit are to:

• have a basic understanding of the methodology and principles of economics
• have a basic understanding of micro and macro economics
• present arguments and make decisions in the economic environment.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Contact hours

3 hours per week

Prohibitions

ECG9101

Leader(s): Mrs Judith Tennant

Offered

Gippsland First semester 2009 (Off-campus)

Synopsis

An introduction to the study of economics; basic microeconomics; basic macroeconomics; revision.

Objectives

The learning goals associated with this unit are to:

• develop analytical skills through the rigorous use of geometric models
• understand the main microeconomic issues associated with the decision making by individual consumers and firms
• recognise the welfare and efficiency implications for society of government microeconomic policy decisions
• appreciate and debate the main macroeconomic issues of inflation, unemployment and economic growth
• critically analyse government policy responses to various issues within the open economy context of Australia.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Prohibitions

ECF9530

Leader(s): Mrs Judith Tennant

Offered

Not offered in 2009

Synopsis

Principles of macroeconomic analysis of product, capital, money and labour markets. It also deals with the concepts of national accounts, governmental expenditure, economic growth, inflation, unemployment, interest rates, currency exchange rates and balance of payments. Contemporary macroeconomic policy issues from both a small open economy and a regional perspective are especially emphasised.

Objectives

The learning goals associated with this unit are to:

• gain a rigorous, theoretical and practical grounding in macroeconomic principles
• be able to apply those principles to judge the usefulness and limitations of contemporary macroeconomic policy debates
• be able to, in further studies, apply those principles to the main macroeconomic issues of inflation, unemployment and economic growth.

Assessment

Within semester assessment: 40%
Examination: 60%

Offered

Not offered in 2009

Synopsis

The pure theory of international trade including the concept of bases for trade and gains from trade, the impact of trade on income distribution and the impact of economic growth on changes in trade. Trade policy matters, including tariffs, quotas, subsidies, import discrimination and other national policies affecting trade. The mechanisms of the foreign exchange market. Determination of exchange rates, the balance of payments, modern foreign exchange policies and the threat of unstable exchange rates, international lending and the world debt crisis.

Objectives

The learning goals associated with this unit are to:

• draw upon skills developed in micro and macroeconomics to enable them to understand and critically evaluate contemporary policy debates in international trade and finance
• develop the ability to use powerful analytical tools to predict the impact of global economic, political and social policies on Australia as a small open economy
• recognise the positive welfare effects of worldwide unrestricted trade.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Prerequisites

ECG9102 and ECG9120

Prohibitions

ECW3121

Offered

Not offered in 2009

Synopsis

The theory and practice of institutional changes in economic mechanisms, including forms of ownership and governmental regulation and deregulation of the public and corporate sectors. Special attention is to be given to analysing issues of privatisation and deregulation in Australia from the point of view of contemporary economic theory.

Objectives

The learning goals associated with this unit are to:

• develop skills in applying economic principles to evaluate contemporary economic policy issues
• understand the economic environment through critical analysis of current economic reforms in the public sector and evolving changes in the relationship between the public and private sectors of the economy
• enhance research skills and the ability to critically evaluate issues and to communicate results.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60 %

Prerequisites

ECG9102 and ECG9120

Leader(s): Ms Svetlana Maslyuk

Offered

Not offered in 2009

Synopsis

The composition of the Australian workforce, the interpretation of labour market statistics, problems of unemployment, supply of and demand for labour and the operation of labour markets, including the influence of institutions such as trade unions, and the problem of disadvantage in the labour market. The role of labour market policies and wages policy.

Objectives

The learning goals associated with this unit are to:

• understand the operation of labour markets by drawing on basic economic principles
• think critically about the implications of labour market activity for society
• recognise that both economic and ethical issues are involved in labour market activities through a consideration of issues such as unemployment and labour market disadvantage
• apply analytical skills developed through an analysis of continuing change in Australian labour markets and labour market policy.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Offered

Clayton First semester 2009 (Day)
Clayton Second semester 2009 (Day)

Synopsis

This unit allows flexibility to explore various directions in the discipline in a more formal setting that is guided by staff expertise.

Assessment

Continuous assessment and a three-hour examination or equivalent.

Prohibitions

ECC4000

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)
Clayton First semester 2009 (Day)
Clayton Second semester 2009 (Day)

Synopsis

Study in a special field of economics in which no formal subject is available. The supervisor will prescribe a list of references, consult frequently with the student and set whatever written work and examination is deemed appropriate. Students interested in a reading unit of this type should first consult the head of the department.

Objectives

The learning goals associated with this unit are to:
+ be in a position to begin active research towards a master's degree or PhD by research.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Leader(s): Dr Wenli Cheng

Offered

Caulfield First semester 2009 (Evening)

Synopsis

This unit applies microeconomic principles to study how businesses make decisions to achieve their goals. In particular, it an analyses how businesses position themselves in the market and how they form their output and price decisions on the basis of their understanding of demand and supply conditions, market competition and business risks. Finally this unit looks at particular aspects of market failure and the role of government in relation to market failure. Professionals in domestic and international organisations will find this subject an aid to the formulation of strategies.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

3 hours per week

Prohibitions

ECF4100

Leader(s): Professor Jakob Madsen

Offered

Caulfield First semester 2009 (Evening)

Synopsis

The focus is on practical questions about how to achieve national economic growth and control inflation in the context of a global economy, with special attention to policy formulation and implementation and the dilemmas facing decision-makers in the government and private sectors. Macroeconomic forecasting and the methods for analysing the short-term and long-term trends are also considered. Australia's experience during the last two decades, in particular the impact of the Asian Currency Crisis, are examined closely.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prohibitions

ECF4200

Leader(s): Associate Professor Christis Tombazos

Offered

Clayton First semester 2009 (Day)

Synopsis

Topics include consumer preference theory; choice; demand; technology; profit maximisation and duality; competitive general equilibrium in the context of decreasing, increasing and constant returns; two-part tariffs; expected utility; adverse selection; and moral hazard.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prohibitions

ECC4650

Leader(s): Professor Jakob Madsen

Offered

Clayton First semester 2009 (Day)

Synopsis

Contemporary macroeconomics and recent policy debates, including market clearing and long-run equilibrium; classical dichotomy; money in the global economy; aggregate demand and price rigidity, microfoundations of macroeconomics, disequilibrium models; stock-flow interactions; wealth effects; rational expectations; policy ineffectiveness and Ricardian equivalence; money and credit; exchange rate regimes; new Keynesian macroeconomics; comovements of macro variables and macroeconomic forecasting.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prohibitions

ECC4660

Leader(s): Professor Peter Forsyth

Offered

Not offered in 2009

Synopsis

Outline of the Australian and overseas approaches to competition policy; the economic background to the Trade Practices Act; market definition issues; evaluation of restrictive trade practices and mergers or alliances; structural reform of industries, access and monopoly regulation.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prohibitions

ECC4700

Leader(s): Professor Russell Smyth

Offered

Not offered in 2009

Synopsis

The unit applies the method of economics to the analysis of the law itself - to the structure of the common law, legal processes, legal institutions and statutory regulation, and to the impact of law on the behaviour of individuals and groups and the functioning of the economy. Topics include: is there a role for law and economics in studying the law, economics of crime and capital punishment, punitive damages, interest group theories of judicial independence and the determinants of judicial influence and prestige.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Offered

Clayton Second semester 2009 (Day)

Synopsis

Theories of hedging and speculation; determination of spot and futures prices, and intertemporal allocation; market efficiency; expectations, including adaptive expectations and rational expectations.

Contact hours

3 hours per week

Prohibitions

ECC4750

Leader(s): Professor Peter Forsyth

Offered

Not offered in 2009

Synopsis

Topics include development and application of microeconomic theory for the economic evaluation of (public) sector investment projects and policies; investment analysis and criteria, discounting techniques; Pareto potential improvement criterion, shadow pricing, social discount rates, distribution issues, secondary benefits, risk and uncertainty, cost-effectiveness.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

3 hours per week

Prerequisites

ECC4650 or equivalent

Prohibitions

ECC4790

Leader(s): Dr Dyuti Banerjee

Offered

Clayton Second semester 2009 (Day)

Synopsis

Theories of the firm, contract, property rights structure, market structure, hierarchy, bargaining, principal-agent relationship, research and development, advertising, and entry, exit, and pricing strategy. The equilibrium implications of the internal organisation of a firm and the organisational structure of the market in relation to strategic interactions between agents, information problems and related incentive mechanisms. Basic game theory and concepts of game equilibrium applied to the analysis of opportunistic behaviour and related transactions costs.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prerequisites

Students must be enrolled in course 0029 or 3842 to undertake this unit.

Prohibitions

ECC4790

Offered

Clayton First semester 2009 (Day)
Clayton Second semester 2009 (Day)

Leader(s): Mrs Judith Tennant

Offered

Gippsland First semester 2009 (Off-campus)

Synopsis

The theory of consumer choice and its relationship to demand, production, costs and supply. Pricing and output decisions of firms in various market structures, including perfect competition, monopoly, monopolistic competition and oligopoly. Efficiency, from the regional perspective, of resource allocation and the problems of externalities, public goods and imperfect information. Contemporary microeconomic policy issues from the regional perspective.

Objectives

The learning goals associated with this unit are to:

• gain a rigorous, theoretical and practical grounding in microeconomic principles
• consider and understand issues of efficiency in the use of productive resources using this model
• critically assess the economic environment to which they will contribute as graduates that will provide the essential basis for more advanced studies in economics
• develop skills in the application of economics principles to business and social policy decisions.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Leader(s): Ms Jennifer Watts

Offered

Austin Hospital First semester 2009 (Off-campus)
Clayton First semester 2009 (Off-campus)

Synopsis

This unit provides an understanding of the microeconomic approach to resource allocation, both in general and specifically, in relation to the health sector. It introduces students to the use of economic tools in the analysis of the 'market' for health care, in terms of efficiency and equity. It also provides an analytical framework for assessment of the Australian health care system, and health policy generally, from an economic perspective.

Objectives

The learning goals associated with this unit are to:

• understand basic microeconomic concepts and their application to the health sector
• understand role, limitations and usefulness of economic analysis and economics as a way of thinking, particularly when applied to the health care sector
• understand organization and delivery of health services from an economic perspective
• understand the Australian Health Care system from an economic perspective, including an analysis of the reasons for growth in expenditure.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Leader(s): Ms Jennifer Watts and Ms Jean Spinks

Offered

Clayton Second semester 2009 (Off-campus)

Synopsis

The economics of the pharmaceutical industry including the market for pharmaceuticals and its regulation internationally and in Australia. Principles of economic evaluation of the costs and outcomes of pharmaceutical products, and provides a guide to best practice with particular emphasis on clinical trials and protocol design.

Objectives

The learning goals associated with this unit are to:

• economic analysis in the pharmaceutical industry
• structure of the pharmaceutical industry and the inter-relationship between the nature of the product, market structure and government regulation
• impact of government intervention in the pharmaceutical industry including alternative regulatory regimes
• role of economic evaluation in promoting the efficient use of drugs
• economic analysis of drugs alongside clinical trials, including techniques of health outcome measurement.

Assessment

Within semester assessment: 70%+ Examination (2 hours): 30%

Leader(s): Ms Jennifer Watts and Ms Juliet Namazzi

Offered

Clayton Second semester 2009 (Off-campus)

Synopsis

This unit introduces students to techniques of microeconomic appraisal in the evaluation of health care programs. It considers conceptual and methodological issues, as well as the practical conduct, and review, of such studies and their use in priority setting within the health care sector. The application of decision rules for economic efficiency in health program evaluation and their influence on policy decisions are introduced.

Objectives

The learning goals associated with this unit are to:

• understand techniques used for microeconomic appraisal in the evaluation of health care programs
• understand conceptual and methodological issues arising in the economic appraisal of health care programs
• understand conduct and review of economic evaluation in the health care sector
• understand application of results from economic evaluation to achieving broader priority setting goals within the health care sector.

Assessment

Within semester assessment: 70%
Examination (2 hours); 30%

Leader(s): Ms Jennifer Watts

Offered

Clayton Summer semester A 2009 (Off-campus)

Synopsis

This unit synthesises contemporary issues in health policy, building on the fundamental economic concepts, including economic efficiency and equity, learned in the first level introductory unit. It is aimed at further developing the core concepts of efficiency and equity, and the application of contemporary health care issues. The unit is organised around three themes: the role of government in the health care system; government regulation in the organisation and delivery of health care services and incentives for equity and efficiency; and the use of economic principles to analyse and develop policy options in health care.

Objectives

The learning goals associated with this unit are to:

• understand the changing perceptions of the role of government in the health sector
• understand the organisation, delivery and financing of health services, including incentives for equity and efficiency
• understand the implications of the ageing population on health care expenditure in Australia, including the organisation, delivery and funding of aged care services
• understand the impact of government regulation on prices and subsidies in the pharmaceutical, health technology and in private health insurance industries
• understand the options for health system reform, including the analysis of policy options, resource allocation and priority setting models.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Contact hours

Clayton, OCDL

Prerequisites

Students must be enrolled in course code 3171 or have passed ECX9700

Leader(s): Mr Rohan Sweeney

Offered

Alfred First semester 2009 (On-campus block of classes)

Synopsis

The unit provides an overview of the particular problems confronted by health care systems in developing countries. Economic principles are used to review and develop policy options for financing of the health sector and approaches to priority setting that foster improved expenditure allocation. Practical aspects of individual health care project appraisal in developing countries are also addressed.

Objectives

The learning goals associated with this unit are to:

• understand the determinants of health, international differences in the pattern of disease, and the link between health and development
• appreciate the economic principles that should underpin health care financing and expenditure decisions
• possess a sound knowledge of alternative health system structures in developing countries, the policy constraints typically faced by developing countries in managing health care systems
• use economic principles to critically appraise policy alternatives for health sector reform and understand practical methodologies for the application of economic principles particularly when data availability is extremely limited
• review the practical application of methodologies for health care program evaluation in developing countries.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Offered

Clayton First semester 2009 (Day)
Clayton Second semester 2009 (Day)

Objectives

The learning goals associated with this unit are to:

• develop an understanding of the key academic literature in a particular area of econometrics or statistical research
• learn how to undertake original research, either theoretical or applied

Prerequisites

It is recommended that students have completed at least three third year econometrics units.

Leader(s): Associate Professor Gael Martin

Offered

Clayton Second semester 2009 (Day)

Synopsis

This unit provides a formal treatment of the core principles underlying econometric and statistical analysis, with particular focus given to likelihood-based inference. Topics covered include the likelihood principle and maximum likelihood estimation; minimum variance unbiased estimation; maximum likelihood asymptotic distribution theory; likelihood-based hypothesis testing; and quasi-maximum likelihood inference. The theoretical developments are supplemented by numerical results produced using computer simulation. Consideration is also given to the numerical optimisation techniques used to implement likelihood-based procedures in practice.

Objectives

The learning goals associated with this unit are to:

• consolidate the core principles underlying econometric and statistical analysis
• understand and implement the technique of maximum likelihood estimation and develop an appreciation of the associated asymptotic distribution theory
• understand and implement likelihood-based hypothesis testing and quasi-maximum

• develop the skills needed to demonstrate and explore theoretical sampling properties using computer simulation.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Contact hours

Two 1-hour lectures and one 2-hour tutorial per week

Prerequisites

Students must have passed ETC2400, ECC2410 or ETC2410 before undertaking this unit

Prohibitions

ETC3400, ETC3404

Leader(s): Mr John Stapleton

Offered

Clayton First semester 2009 (Day)
Australia (Other) First semester 2009 (Off-campus block of classes)

Synopsis

This unit presents econometric models and techniques that are widely used in modern applied econometrics. Emphasis is placed on models that address the special problems that arise when analysing microeconomic data, that is, data at the level of individual consumers, households and firms. The topics covered include modelling discrete dependent variables, modelling data sets that have both a cross-section and a time-series dimension and conducting inference in models in which the dependent variable is jointly determined with one or more of the regressors. The models taught in this unit are widely used in empirical work in economics, finance and marketing.

Objectives

The learning goals associated with this unit are to:

• conduct statistical inference in statistical models with a binary dependent variable
• conduct statistical inference in statistical models with one or more endogenous explanatory variables
• conduct statistical inference in a system of simultaneous equations
• conduct statistical inference on data that has both a time series and a cross section dimension.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Contact hours

Two 1-hour lectures and one 2-hour tutorial per week

Prerequisites

Students must have passed one of the following before undertaking this unit. ECC2410, ETC2400, ETC2410

Leader(s): Mr John Stapleton

Offered

Clayton Second semester 2009 (Day)

Synopsis

This unit provides an introduction to modern time series methods. The topics covered include a review of stationary, univariate ARMA models, stochastic and deterministic trends, testing for unit roots, vector autoregressions, multivariate cointegration and error correction models.

Objectives

The learning goals associated with this unit are to:

• model and forecast stationary autoregressive and moving average time series
• test for unit roots in univariate time series
• analyse the relationships between multiple, stationary time series
• test for, estimate and interpret the long run relationships between non-stationary time series.

Assessment

Within semester assessment: 40%. Examination (2 hours): 60%

Contact hours

Two 1-hour lectures and one 2-hour tutorial per week

Prerequisites

Students must have passed either ETC2410 or ECC2410 before undertaking this unit

Prohibitions

ETC3450, ETC3454

Leader(s): Professor Keith McLaren and Dr Catherine Forbes

Offered

Clayton First semester 2009 (Day)

Synopsis

The specification, estimation and testing of asset pricing models, including the capital asset pricing model and extensions; the statistical characteristics of financial data emphasising skewness, kurtosis and volatility aspects; volatility models such as ARCH models of financial time series, with applications to stock prices, derivatives, and exchange rates including the forecast performance of these models.

Objectives

The learning goals associated with this unit are to:

• describe the time series and distributional features of financial data
• explain appropriate specification, estimation and testing of asset pricing models
• evaluate the need for volatility models for financial returns
• describe the specification and estimation of conditional volatility models.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Contact hours

Two 1-hour lectures and one 2-hour tutorial per week

Prerequisites

Students must have passed one of the following: AFC1100, AFC2000, AFC2100, AFC2140 and also one from: ECC2410, ETC2410, ETC3440, ETC4344, ETX9344 or be granted permission, before undertaking this unit.

Prohibitions

ETC3460

Leader(s): Dr Neil Diamond and Professor Felix Mavondo

Offered

Clayton Second semester 2009 (Day)

Synopsis

Introduction to multivariate statistical techniques for the analysis of survey data and models to analyse the discrete choice behaviour of individuals. Topics include multivariate analysis of variance, principal components analysis, factor analysis, correspondence analysis and models of discrete choice behaviour. Statistical software and case studies will be utilised during this subject and students will apply the techniques to a variety of practical problems.

Objectives

The learning goals associated with this unit are to:

• model and forecast stationary autoregressive and moving average time series
• test for unit roots in univariate time series
• analyse the relationships between multiple, stationary time series
• test for, estimate and interpret the long run relationships between non-stationary time series.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Contact hours

Two 1-hour lectures and one 2-hour tutorial per week

Prerequisites

Students must have passed one of the following units ETC2400, ECC2410, ETC2410, ETC2430, ETC2450, ETC2500, ETC3440, ETC3444 or MKC2500.

Prohibitions

ETC3500, ETC3504, ETF3500, MKC3500, MKF3500

Leader(s): Professor Fima Klebaner and Professor Don Poskitt

Offered

Clayton First semester 2009 (Day)

Synopsis

Mathematical definition of options and other financial derivatives; probability models; mathematical models of random processes; applications; numerical methods; Monte Carlo methods.

Objectives

The learning goals associated with this unit are to:

• develop an understanding of the modern approach to evaluation of uncertain future payoffs
• develop an understanding of the concepts of arbitrage and fair games and their relevance to finance and insurance
• develop an understanding of concept of conditional expectation and martingales and their relation to pricing of financial derivatives
• develop an understanding of the random processes such as Random Walk, Brownian Motion and Diffusions and be able to apply them for modelling real life processes and risk models
• obtain skills to use Ito's formula
• develop the skills to price options by using the Binomial and Black-Scholes models
• ability to simulate the price process and obtain prices by simulation
• ability to formulate discrete time Risk Model in Insurance and use it for control of probabilities of ruin.

Assessment

Within semester assessment: 40%
Examination: 60%

Contact hours

Three 1-hour lectures and one 1-hour tutorial/practice class per week.

Prerequisites

Students must have passed ETC1010 and one of the following before undertaking this unit. ECC2410, ETC2400, ETC2410, ETC2430, ETC2480 or ETC3440

Prohibitions

ETC3510, ETC3514, MTH3251

Offered

Clayton Second semester 2009 (Day)

Synopsis

The unit will cover, in mathematical terms, many of the areas treated more intuitively in first year microeconomics, eg: consumer demand, the theory of the firm, equilibrium and Pareto optimum. However, a significant portion of the lectures will deal with topics not covered earlier, such as non-linear programming, game theory, and dynamic optimisation.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prerequisites

ECC2000 or equivalent

Prohibitions

ECC3840, ECC3844, ECC4384

Leader(s): Professor Don Poskitt

Offered

Clayton First semester 2009 (Day)

Synopsis

The objective of this unit is to outline the general principles that underlie what has become known as the Generalized Method of Moments (GMM). The discussion is motivated by reference to econometric and statistical techniques, and simple practical examples with which students should be familiar. It is shown that GMM finds application in many areas of econometrics and business statistics, and that GMM may be viewed as a methodology that encompasses many econometric and statistical techniques. Broad topic headings are: Classical Method of Moments and Regression (OLS and IV), GMM, Identification, Asymptotic Distribution Theory for GMM, GMM and Optimal Inference.

Objectives

The learning goals associated with this unit are to:

• build upon existing concepts developed in previous courses and to outline the basic principles under-lying what has become known as the Generalized Method of Moments (GMM)
• outline the classical Method of Moments and relationship of Regression to the Method of Moments
• discuss Identification and Asymptotic Distribution Theory in the context of the GMM
• examine GMM in relation to minimum variance unbiased estimation, and GMM based inference
• consider special cases of single equation and simultaneous equations GMM.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Contact hours

Two 1.5-hour lectures per week

Prerequisites

ETC3400

Leader(s): Professor Keith McLaren and Associate Professor Xueyan Zhao

Offered

Clayton First semester 2009 (Day)

Synopsis

This unit involves a critical review of recent empirical work in econometrics. The topics to be covered include: the specification and estimation of systems of consumer demand equations and producer demand and supply equations, extensions of these methods to other areas, practical applications. On completion of this unit students should be familiar with recent developments in these fields and have developed the skills to undertake empirical work. Further, students should be able to critically evaluate empirical work and related policy implications.

Objectives

The learning goals associated with this unit are to:

• specify the structure of consumer demand systems
• use duality theory to generalise these specifications
• understand the use of appropriate specific estimation techniques
• extend these ideas to producer demand and supply models
• consider a number of empirical applications, and derive policy implications
• become competent in handling demand and production data using econometric software.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

Two 1.5-hour lectures per week

Prerequisites

Students must have passed one of the following before undertaking this unit. ECC3410, ETC3400, ETC3410

Leader(s): Associate Professor Mark Harris

Offered

Clayton First semester 2009 (Day)

Synopsis

This unit covers specification, estimation and evaluation of a range of statistical models used to analyse (predominantly) micro data in economics, finance and marketing. These include models of discrete data on individual choice behaviour, censored and truncated data and panel data. A hands-on approach is taken, such that the models are illustrated with real-life applications.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

Two 1.5-hour lectures per week

Prerequisites

Students must have passed one of the following before undertaking this unit. ECC3410, ETC3400 or ETC3410

Leader(s): Professor John Madden

Offered

Clayton Second semester 2009 (Day)

Synopsis

This unit covers the theoretical structure and application of computable general equilibrium (CGE) models. Topics include:

• the derivation of the model's non-linear equation system
• evaluation of coefficients and parameters, model closure, specification of economic shocks, solution techniques and interpretation of results.

Objectives

The learning goals associated with this unit are to:

• acquire an understanding of the main elements of the theoretical structure of a computable general equilibrium (CGE) model
• acquire an understanding of how a CGE model is calibrated and implemented on computer
• develop the ability to conduct basic simulations with a comparative-static CGE model
• acquire skills in the analysis of the more readily interpretable model results in terms of model theory, data base, closure and shocks
• develop an elementary understanding of the key features of dynamic CGE models.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

Two 1.5-hour lectures per week

Prerequisites

EC

Leader(s): Associate Professor Gael Martin and Dr Catherine Forbes

Offered

Clayton Second semester 2009 (Day)

Synopsis

This unit introduces students to a range of advanced, current techniques used in analysing financial data. Topics covered include the analysis of the time series and distributional features of financial data; the use of stochastic volatility and realised volatility models to capture time-varying volatility, including long memory in volatility; the use of econometric methods to estimate Value at Risk; the modelling of transactions data using trade duration models and transaction-based volatility models; continuous time processes and the application of econometric techniques to option pricing; and the use of generalised method of moments in financial models.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

Two 1.5 hour lectures per week for 11 weeks

Prerequisites

Students must have passed one of the following: ETC3460 or ETC4346 and at least one of: ECC3410, ETC3400, ETC3410, ETC3450, before undertaking this unit.

Leader(s): Dr Lee Gordon-Brown and Associate Professor Ralph Snyder

Offered

Clayton Second semester 2009 (Day)

Synopsis

This subject is directed to students with an interest in business analysis and business modelling. It covers tools such as Solver in Microsoft Excel for optimising business decisions. Modelling skills are enhanced from a study of the logic of optimisation and its application to common business problems. Methods covered include linear programming, network programming, integer linear programming, non-linear programming and dynamic programming.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

Two 1.5-hour lectures per week

Prerequisites

ETC2480 or ETC3480 or equivalent

Leader(s): Associate Professor Gael Martin

Offered

Clayton Second semester 2009 (Day)

Synopsis

This unit covers methodological developments at the forefront of econometric research. Topics may include Bayesian econometrics, simulation techniques, latent variable models, non-Gaussian time series models, distribution theory, non-parametric inference and panel data models.

Assessment

Within semester assessment: 40%
Examination: 60%

Contact hours

Two 1.5-hour lectures per week

Prerequisites

One from ETC4400, ETC4410, ETC4420 or permission

Prohibitions

ETC5410

Leader(s): Professor Brett Inder

Offered

Clayton First semester 2009 (Day)
Clayton Second semester 2009 (Day)
Clayton Full year 2009 (Day)
Clayton Second semester to First semester 2009 (Day)

Synopsis

Topics for seminar presentation are selected in consultation with the coordinator. A list of possible topics will be distributed but students are encouraged to propose subjects of interest to them, based in their own discipline. Students present one paper, act as formal discussant on another, and are expected to engage in discussion of others.

Objectives

The learning goals associated with this unit are to:

• develop the skills to present an area of research in the discipline of econometrics or statistics in a non-technical manner, both written and oral
• grow in ability to ask and address critical questions about research.

Assessment

Within semester assessment : 100%

Contact hours

One 1.5 hour seminar per week

Leader(s): Associate Professor Brett Inder

Offered

Clayton First semester 2009 (Day)
Clayton Full year 2009 (Day)

Synopsis

A unit of study in a special field of enconometrics in which no formal unit is available. The supervisor will prescribe a list of references, consult frequently with the student and set whatever written work and examinations are deemed appropriate. Students interested in a reading subject of this type should first consult the head of department.

Objectives

The learning goals associated with this unit are to:

• develop an understanding of the key academic literature in a particular area of econometrics or statistical research
• learn how to undertake original research, either theoretical or applied.

Leader(s): Associate Professor Brett Inder

Offered

Clayton First semester 2009 (Day)
Clayton Second semester 2009 (Day)

Objectives

The learning goals associated with this unit are to:

• develop an understanding of the key academic literature in a particular area of econometrics or statistical research
• learn how to undertake original research, either theoretical or applied.

Leader(s): Associate Professor Brett Inder

Offered

Clayton First semester 2009 (Day)
Clayton Second semester 2009 (Day)

Objectives

The learning goals associated with this unit are to:

• develop an understanding of the key academic literature in a particular area of econometrics or statistical research
• learn how to undertake original research, either theoretical or applied.

Leader(s): Professor Fima Klebaner and Professor Don Poskitt

Offered

Clayton First semester 2009 (Day)

Synopsis

Mathematical definition of options and other financial derivatives, probability models, mathematical models of random processes, applications, numerical methods, Monte Carlo methods.

Objectives

The learning goals associated with this unit are to:

• develop an understanding of the modern approach to evaluation of uncertain future payoffs
• develop an understanding of the concepts of arbitrage and fair games and their relevance to finance and insurance
• develop an understanding of concept of conditional expectation and martingales and their relation to pricing of financial derivatives
• develop an understanding of the random processes such as Random Walk, Brownian Motion and Diffusions and be able to apply them for modelling real life processes and risk models
• obtain skills to use Ito's formula
• develop the skills to price options by using the Binomial and Black-Scholes models
• ability to simulate the price process and obtain prices by simulation
• ability to formulate discrete time Risk Model in Insurance and use it for control of probabilities of ruin.

Assessment

Within semester assessment: 40%
Examination: 60%

Contact hours

3 one-hour lectures and 1 one-hour tutorial/practice class per week

Leader(s): Associate Professor Brett Inder

Offered

Clayton First semester 2009 (Day)

Synopsis

This unit will cover specialised topics from current research areas of staff members with the aim of exposing students to the level of technical detail required for econometric research.

Objectives

The learning goals associated with this unit are to:

• examine methodological developments at the forefront of econometric research
• explain the importance of probabilistic and statistical techniques in econometric research.

Assessment

Within semester assessment: 100%

Contact hours

Two 1.5-hour lectures per week

Prerequisites

ETC4400 or ETC4410 or permission

Leader(s): Associate Professor Gael Martin

Offered

Clayton Second semester 2009 (Day)

Synopsis

This unit covers methodological developments at the forefront of econometric research. Topics may include Bayesian econometrics, simulation techniques, latent variable models, non-Gaussian time series models, distribution theory, non-parametric inference and panel data models.

Objectives

The learning goals associated with this unit are to:

• examine methodological developments at the forefront of econometric research
• explain the importance of probabilistic and statistical techniques in econometric research.

Assessment

Within semester assessment: 40%
Examination: 60%

Contact hours

Two 1.5-hour lectures per week

Prerequisites

Students must have passed one of the following before undertaking this unit: ETC4400, ETC4410, ETC4420, or permission.

Leader(s): Associate Professor Mark Harris

Offered

Clayton First semester 2009 (Day)

Synopsis

This unit covers specification, estimation and evaluation of a range of statistical models used to analyse (predominantly) micro data in economics, finance and marketing. These include models of discrete data on individual choice behaviour, censored and truncated data and panel data. A hands-on approach is taken, such that the models are illustrated with real-life applications.

Objectives

The learning goals associated with this unit are to:

• know in which situations the linear regression model is not an appropriate way to model the behaviour of interest
• apply a range of alternative models in situations when the linear regression model is not appropriate
• model data as recorded in either surveys or panels
• use appropriate models to predict the probability that an individual will choose a particular: labour market state; mode of transport; consumption level of alcohol; number of cigarettes to smoke per week; and so on.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

Two 1.5-hour lectures per week

Prerequisites

Students must have passed one of the following before undertaking this unit. ECC3410, ETC3400 or ETC3410

Leader(s): Associate Professor Gael Martin and Dr Catherine Forbes

Offered

Clayton Second semester 2009 (Day)

Synopsis

This unit introduces students to a range of advanced, current techniques used in analysing financial data. Topics covered include the analysis of the time series and distributional features of financial data; the use of stochastic volatility and realised volatility models to capture time-varying volatility, including long memory in volatility; the use of econometric methods to estimate Value at Risk; the modelling of transactions data using trade duration models and transaction-based volatility models; continuous time processes and the application of econometric techniques to option pricing; and the use of generalised method of moments in financial models.

Objectives

The learning goals associated with this unit are to:

• critically evaluate alternative methods of modelling asset return volatility
• explain the role of volatility modelling in the measurement of risk and in the pricing of financial derivatives
• describe the role of continuous time stochastic processes in the pricing of financial derivatives
• evaluate econometric models for high frequency data
• evaluate the use of generalised method of moments in financial models

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

Two 1.5-hour lectures per week for 11 weeks

Prerequisites

Students must have passed one of the following: ETC3460, ETC4346 and at least one of: ETC3400, ETC3410, ETC3450 before undertaking this unit.

Leader(s): Professor Don Posksitt

Offered

Clayton Full year 2009 (Day)

Synopsis

This graduate seminar subject is compulsory for PhD candidates. PhD and masters candidates proceeding by major thesis are required to present at least two seminars, one at an early stage to outline their thesis proposal and the second towards the end of candidature, preferably before writing-up has commenced. Masters candidates are required to present at least one seminar at a time to be determined in consultation with their supervisor.