Bachelor of Psychological Science and Business - 2018

This course is intended for students who wish to apply psychological training to work in a business environment. Students acquire a fundamental understanding of the major principles of psychology and are exposed to a broad cross-section of topics relevant to applied and professional psychology. They also acquire a basic knowledge of core business disciplines and specialised knowledge in one business area and develop an understanding of psychology in a business environment.

Students will enhance their ability to develop careers in psychology, and/or business through the development of effective interpersonal and communication skills, the mastering of essential research design procedures, statistical analyses and methods of written and oral communication relevant to the fields of psychology and business.

These course outcomes are aligned with the Australian Qualifications Framework level 7 and Monash Graduate AttributesAustralian Qualifications Framework level 7 and Monash Graduate Attributes (http://www.monash.edu.au/pubs/handbooks/alignmentofoutcomes.html).

On completion of this course, students will be able to:

1. apply their understanding of the major principles of psychology to the identification and resolution of real-world problems
2. explain a broad cross section of applied and professional psychology topics to diverse audiences
3. demonstrate a working knowledge of core business disciplines and specialised knowledge in one business area
4. use effective interpersonal and communication skills across a range of contexts
5. critically appraise research design procedures, statistical analyses and methods of written and oral communication relevant to the fields of psychology and business
6. apply psychological concepts within a business environment
7. implement modern information technologies that will enhance effectiveness in the workplace
8. prepare for careers in psychology, marketing, management, human resources, or other business areas
9. establish skills and knowledge to progress to postgraduate studies and/or research in psychological science or business
10. exercise personal, professional and social responsibility as a global citizen.

This course is accredited by the Australian Psychology Accreditation Council.

This degree does not make students eligible to register as a psychologist. A career in psychology will require further study and training after completion of the Bachelor of Psychological Science and Business.

The course develops through three themes of psychology and business fundamentals and foundational skills, research methods and critical thinking, and psychology in business practice. These together underpin the discipline of psychology.

Part A. Psychology and business fundamentals and foundational skills

These studies will develop your understanding of core areas of psychology, including knowledge of the theoretical and empirical basis of our current understanding of human psychology. You will also develop a broad foundation in business studies that will prepare you for your chosen area of business practice.

Part B. Research methods and critical thinking

These studies will assist you to develop an understanding of the scientific method and use this knowledge in order to critically evaluate contemporary and historical claims relating to human behaviour and mental processes and to apply this knowledge to the generation of new research questions.

Part C. Psychology in business practice

This is the component of the course through which you will develop further skills and knowledge in psychology together with advanced understanding of your chosen area of business practice including: accountancy, applied economics, banking and financial management, business law and taxation, econometrics and business statistics, international business management, management, or strategic marketing.

The course comprises 144 points. The course develops through theme studies in: Part A. Psychology and business fundamentals and foundational skills (78 points), Part B. Research methods and critical thinking (12 points), and Part C. Psychology in business practice (54 points).

The course progression map will assist you to plan to meet the course requirements and guidance on unit enrolment for each semester of study.

Units are 6 points unless otherwise stated.

Students who are considering an honours year in business should seek course advice when choosing units from a business area.

Part A. Psychology and business fundamentals and foundational skills (78 points)

Students complete:

a. The following seven units (42 points):

• PSY1011 Psychology I A
• PSY1022 Psychology I B
• PSY2061 Biological psychology
• PSY2071 Developmental psychology
• PSY2042 Personality and social psychology
• PSY3032 Abnormal psychology
• PSY3051 Perception and cognitive psychology

b. The following six units (36 points):

• ACW1100 Introduction to financial accounting
• BTW1042 Malaysian business law
• ECW1101 Introductory microeconomics
• ETW1102 Business statistics
• MGW1010 Introduction to management
• MKW1120 Marketing theory and practice

Part B. Research methods and critical thinking (12 points)

Students complete:

• PSY3062 Research methods and theory
• PSY3250 Positive psychology

Part C. Psychology in business practice (54 points)

Students complete:

a. The following two units (12 points):

• PSY2112 Organisational psychology
• PSY3041 Psychological testing, theories of ability and ethics

b. Seven units (42 points) from one of the following business areas:

Accountancy

Students complete:

a. The following five units (30 points):

• ACW2491 Financial accounting
• ACW3491 Advanced financial accounting
• ACW2391 Introduction to management accounting
• ACW3431 Management accounting
• BFW2140 Corporate finance 1

b. Two units (12 points) from the following:

• ACW2851 Accounting information systems and financial modelling
• ACW3041 Auditing and assurance
• BEW3100 Work placement program
• BTW2213 Malaysian company law
• BTW3153 Malaysian income tax law

Applied economics

Students complete:

a. The following three units (18 points):

• ECW1102 Introductory macroeconomics
• ECW2730 Macroeconomic policy
• ECW2731 Managerial economics

b. Three units (18 points) from the following:

• ECW3143 Economics of money and banking
• ECW3301 Case studies in international trade
• ECW3830 Business, competition and regulation
• ECM3670 Development economics
• ECM3810 Public sector economics

c. One unit (6 points) from the following:

• ETW2410 Introductory econometrics
• ECM2360 Environmental and natural resource economics
• ECW2141 Economics of labour markets
• ECW2721 Trade finance and foreign exchange
• ECX3550 Business in Asia

Banking and financial management

Students complete:

a. The following six units (36 points):

• BFW1001 Foundations of finance
• BFW2140 Corporate finance
• BFW2401 Commercial banking and finance
• BFW2751 Derivatives 1
• BFW3121 Investments and portfolio management
• BFW3841 Credit analysis and lending management

b. One unit (6 points) from the following:

• BEW3100 Work placement program
• BFW3331 International banking and finance
• BFW3540 Modelling in finance
• BFW3651 Treasury management
• BFW3652 Corporate treasury and credit management

Business law and taxation

Students complete:

• BTW2213 Malaysian company law
• BTW2241 Comparative workplace relations law
• BTW2320 Current issues in corporate governance
• BTW3153 Malaysian income tax law
• BTW3201 International trade law
• BTW3233 Conventional and Islamic finance law
• BTW3281 Marketing law

Econometrics and business statistics

Students complete:

• ETW2111 Business data modelling
• ETW2410 Introductory econometrics
• ETW2420 Survey methods and managerial statistics
• ETW2480 Business modelling methods
• ETW3410 Applied econometrics
• ETW3420 Principles of forecasting and applications
• ETW3481 Econometric methods for finance

International business management

Students complete seven units (42 points) from the following:

• BFW2341 International financial management
• BTW3201 International trade law
• ECW2721 Trade finance and foreign exchange
• ECW3301 Case studies in international trade
• MGW2351 International business
• MGW3681 International management
• MGX3121 International business strategy
• MKW3444 International marketing

Management

Students complete:

a. The following two units (12 points):

• MGW2230 Organisational behaviour
• MGW3401 Strategic management

b. Five units (30 points) from the following with at least two units (12 points) at level 3:

• MGW1100 Managerial communication or MGW1232 Introduction to Islamic business
• MGW2351 International business
• MGW2430 Human resource management
• MGW2991 Leadership in Asia
• MGW3130 Organisational change and development
• MGW3234 Social entrepreneurship
• MGW3381 Management information systems
• MGW3681 International management
• MGX2700Not offered in 2018 Project management for small to medium enterprises
• MGX3121 International business strategy

Strategic marketing

Students complete:

a. The following six units (36 points):

• MKW2402 Consumer behaviour
• MKW2420 Market research method
• MKW2460 Integrated marketing communication
• MKW3301 Services marketing
• MKW3444 International marketing
• MKW3610 Marketing strategy and implementation

b. One unit (6 points) from the following:

• MKW1300 Introduction to social commerce
• MKW1601Not offered in 2018 Introduction to e-business
• MKW2431 Business marketing
• MKW3510Not offered in 2018 Islamic marketing
• MKW3701Not offered in 2018 Neuroscience of decision-making: An introduction
• MKX1500 Retail management principles

Bachelor of Psychological Science and Business graduates may be eligible for entry into M3705 Bachelor of Psychological Science (Honours) or B3701 Bachelor of Business and Commerce (Honours).

To be eligible for provisional registration as a psychologist in Australia you must meet the requirements of the Psychology Board of Australia. The first step to becoming a psychologist is to complete four years of approved study in psychology. This normally comprises a bachelor degree (or graduate diploma) that includes the three-year Australian Psychology Accreditation Council (APAC) accredited sequence of 10 units in psychology, followed by an accredited fourth-year course in psychology. The Bachelor of Psychological Science provides the three-year APAC accredited sequence and the Bachelor of Psychological Science (Honours) will provide the fourth year.

In order to be eligible for general registration as a psychologist, a further minimum two years of approved study must be undertaken at master's or doctoral level or alternatively two years of supervised practice.