Faculty of Medicine, Nursing and Health Sciences

Monash University

Postgraduate - Unit

This unit entry is for students who completed this unit in 2015 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

print version

6 points, SCA Band 2, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

FacultyFaculty of Medicine, Nursing and Health Sciences
Organisational UnitDepartment of Epidemiology and Preventive Medicine
OfferedAlfred Hospital First semester 2015 (Day)
Alfred Hospital First semester 2015 (Off-campus)
Coordinator(s)Ms Kelly Makarounas-Kirchmann and Mr Robert Cornick

Quota applies

This unit is quota restricted. Selection is on a first-in, first enrolled basis.


An introduction to basic accounting principles for non-accountants. Financial issues confronting clinical managers including the understanding and interpretation of common accounting reports, budgeting and financial analysis. An introduction to basic economic theory relevant to clinicians and clinical managers, including funding health care services and economics evaluations that guide health care policy and decision making.


Upon successful completion of this unit, students should be able to:

Part 1

  1. Recognise key accounting terms and language.
  2. Illustrate how transactions that affect the economic position of a health care organisation are recorded.
  3. Explain the construction of basic financial statements including balance sheets, income statements, and statements of cash flows.
  4. Analyse and interpret the information contained in basic financial statements.

Part 2

  1. Demonstrate an understanding of different models for financing health services and the cost containment incentives and disincentives associated with each type of payment method.
  2. Relate the principles of management control systems to financial issues in health care.
  3. Demonstrate skills in building, analysing and using a budget.
  4. Explain how to best optimise resource use, and appreciate the role of cost containment strategies.
  5. Evaluate and appreciate the use of health economics as a tool for rational decision-making.
  6. Critically appraise an economic analysis.
  7. Identify the robustness of a pharmacoeconomic evaluation as viewed by Australian decision makers.


Web-based tasks (50%)
Written assignments (25%)
Multiple-choice examination (25%)

Workload requirements

15 contact hours over 2 block days.

See also Unit timetable information

Chief examiner(s)

This unit applies to the following area(s) of study