MONASH UNIVERSITY FACULTY HANDBOOKS

Business & Economics Handbook 1996

Published by Monash University
Clayton, Victoria 3168, Australia

Caution Copyright © Monash University 1996
ISBN 1320-6222

Authorised by Academic Registrar, April 1996

OUTLINE OF UNDERGRADUATE STUDIES -ClaytonPart 2

CONTENTS

  1. Bachelor of Accounting
  2. Bachelor of Commerce - BCom
  3. Bachelor of Commerce (Accounting & Finance) - BCom(Acc&Fin)
  4. Bachelor of Commerce (Business Statistics) - BCom(BusStat)
  5. Bachelor of Commerce (Strategic Management) - BCom(StratMgt)
  6. Progression to Bachelor of Commerce (Honours)

Bachelor of Accounting

Course code: 0169

The Bachelor of Accounting degree has been designed to give students a structured education in the disciplines of accounting and finance. The degree has been introduced at the request of the professional accounting bodies in Australia, and with the support of the Department of Employment, Education and Training. The course provides for accelerated learning, an integral component of which are the structured periods of industry-based learning. Students selected to undertake the degree will be awarded a scholarship of $4400 (or the equivalent in paid work-experience) per annum for each of the three years of the pass degree. The scholarships are provided by industry sponsors of the degree, who also play an important role in the industry-based learning sections of the course. During this time students work in commercial settings and also complete specified projects determined jointly by academics and sponsors. Over the length of the course, students spend time with a range of business organisations which have agreed to participate in the course. Admission to this course is limited to school leavers who are citizens or permanent residents of Australia. A quota of fifty full-time places applies.

Course objectives

In addition to the common objectives that the Bachelor of Accounting degree has with the Bachelor of Commerce degree, students completing the course should:

+ have experienced an academically challenging, accelerated academic program combined with an industry-based learning process which reinforces theoretical concepts in a practical work environment;

+ have developed in a work environment interpersonal skills and group problem-solving techniques;

+ have developed effective communication skills through the preparation of project and industry-based learning reports;

+ have developed personal attributes and skills at the workplace which are consistent with sponsor (employer) expectations as a consequence of the industry-based assessment.

Course structure

Refer to chart 1 in the section `Charts of degree structures'.

First year

Semester 1

+ AAF1021/2 Accounting

+ ECO1000 Economics

+ ECM1020 Business and economic statistics

+ AAF1110 Business law

Semester 2

+ AAF1031/2 Accounting

+ ECO1010 Economics

+ ECM1031/2 Business and economic statistics

+ AAF1140 Business finance

Summer Semester

+ 12 week period of industry-based learning

Second year

Semester 1

+ AAF2120 Financial accounting

+ AAF3140 Business finance

+ AAF3150 Income tax law

+ Elective

Semester 2

+ 14 week period of industry-based learning

Summer Semester

+ 12 week period of industry-based learning

Third year

Semester 1

+ AAF3120 Advanced accounting

+ AAF2130 Management accounting

+ Elective

+ Elective

Semester 2

+ AAF3110 Company law

+ AAF3160 Auditing and systems

+ AAF3130 Management accounting

+ Elective

The sponsoring organisations are responsible for students during the ten months of industry-based learning. During this time, it is intended that sponsors will provide students with an integrated educational experience which illustrates and enhances their academic work. Participation in the industry-based learning component will be assessed by the use of:

+ Student reports and diaries. These will be completed by the student and submitted to and assessed by academic staff of the department. A copy of any assessment or report may be made available to the sponsor.

+ Specified projects. Students will be expected to complete specified projects during the industry-based learning component which will be determined jointly by academics and sponsors. The projects will be designed to develop the student's analytic and problem-solving skills, the student's interpersonal skills and also provide an opportunity for the student to apply knowledge gained through the formal academic components of the degree program.

+ Sponsors' reports. It is expected that the sponsor will induct the student into the organisation and that the usual performance reporting standards would be followed, eg formal and informal feedback, plus performance appraisals which will be assessed by academic staff of the department.

Electives

Electives can be taken from other subjects offered by the Department of Accounting and Finance, or from the disciplines of economics, econometrics, and management or from other areas with the approval of the course director.

Progression to Bachelor of Accounting (Honours)

Students interested in undertaking the Bachelor of Accounting (Honours) should consult the head of the Department of Accounting and Finance or the course director.

For specific information on the structure and requirements of the honours specialisation see the section `Honours degrees' at the end of this chapter.

Bachelor of Commerce - BCom

Course code: 0179

General

The Bachelor of Commerce degree provides coherent sequences of subjects in the areas of accounting and finance, business statistics or econometrics, management studies and economics. An introduction to all of these areas is compulsory in the first year of the degree. For details of the subjects available in each area see the relevant section of the handbook headed `Specialisation in ...'. There are also opportunities for combinations with economic history and with subjects offered outside the faculty, including languages, psychology, mathematics, computing, and any of the sciences, social sciences or humanities.

Course objectives

On completion of the Bachelor of Commerce degree students should:

+ have an understanding of the issues underlying major corporate, government and economic policies and an ability to appraise the implications of those major policy decisions in the context of the Australian and international environments;

+ have developed certified analytical and technical skills to assist with solving problems that may arise in their future careers in business, the public sector and the professions;

+ have a continuing commitment to and capacity for independent critical thought and further learning;

+ have a critical understanding of the operations of business, government and the economy, and the management of these for the benefit of society;

+ be able to communicate effectively, both orally and in writing, in their areas of expertise;

+ have developed basic skills in economic analysis, quantitative and computer methods, accounting principles and management;

+ have a specialised level of skills and knowledge in one or more of the disciplines taught within the faculty - accounting, finance, econometrics, economic history, economics and management;

+ have had the opportunity to develop the skills, knowledge and motivation necessary for postgraduate study and research;

+ have satisfied the membership requirements of the Australian Society of Certified Practising Accountants, The Institute of Chartered Accountants in Australia, and the Australian Institute of Bankers, provided the appropriate selections of subjects were chosen.

Professional accreditation

This degree is recognised by both the Australian Society of Certified Practising Accountants and the Institute of Chartered Accountants in Australia as meeting academic requirements for membership. This is also true for senior associate membership of the Australian Institute of Bankers. Graduates of this course are recognised for membership of the Australian Institute of Management (AIM) and the Australian Human Resource Institute (AHRI). For all professional bodies membership is dependent upon the correct choice of subjects by students.

Course structure

The pass degree requires the satisfactory completion of twenty-four subjects, or subjects to the value of a total of 144 credit points, over a minimum of three full-time years or a maximum of eight years of study. Students may include in their degree subjects to the value of thirty-six credit points from disciplines outside the faculty, normally on the basis of twelve credit points at each year level. All first, second and third-year subjects offered by the Faculty of Business and Economics (Clayton) have a credit value of six points. Full-time students are expected to progress at the rate of eight subjects or forty-eight credit points per year. First-year students normally may not take a second-year subject until at least four first-year subjects have been completed successfully. It should be noted that subjects in the later years of the course have prerequisites and corequisites. In addition, students are expected to take subjects in a yearly sequence even if there are no prerequisite subjects specified. The course structure is shown in chart 2 in the section `Charts of degree structures'. Specialisations are available in accounting and finance, economics, business statisitics and econometrics, and management.

First year

The first year of the degree will comprise eight semester subjects totalling forty-eight credit points, of which the following shall be compulsory:

+ ECO1000 and ECO1010 (Economics)

+ ECM1020 and ECM1031/2 (Business and economic statistics)

+ AAF1021/2 and AAF1031/2 (Accounting)

+ MGC1020 and MGC1030 (Introduction to management)

Students wishing to take first-year subjects from another faculty or first-year economic history subjects can defer one pair of the above subjects until second year where thay will count as second-year category B subjects. This allows students to complete substantial work in related fields such as languages, computing, psychology, or mathematics.

Second year

The structure of the second and third years of the degree is identical. Each year comprises eight semester-length subjects, or the equivalent of forty-eight credit points.

To maintain a coherent course structure, subjects may be selected from three categories: major specialisation (category A), supporting studies (category B) and electives (category C). Category A subjects represent a specialised sequence of study; students must select a specialisation from the subjects taught on the Clayton campus by one of the departments of Accounting and Finance (AAF prefix), Econometrics (ECM prefix), Economics (ECO prefix), or Business Management (MGC prefix) for this category. This specialisation will then be followed throughout the second and third years of the course. For the area of specialisation (category A), students are required to choose between three and five second-year subjects, or subjects with a total credit value between eighteen and thirty points.

Supporting studies (category B) subjects comprise subjects offered by the faculty's departments on the Clayton campus from areas other than category A. Depending on the selection of the specialisation, supporting studies subjects might be accounting and finance, management studies, economics, or quantitative studies, any two of which may be from first-year subjects. Between two and four second-year subjects, or subjects with a credit value of between twelve and twenty-four points, must be selected from this category.

Elective subjects (category C) comprise subjects from other faculties or from a limited list of faculty subjects from other campuses and students may include up to two subjects, or subjects with a credit value of a maximum of twelve points, in this category. (Whilst each subject offered by the Faculty of Business and Economics (Clayton) has a points value of six, the points value of subjects taken from other faculties may vary, and where this occurs, students must complete the minimum number of points rather than the number of subjects recommended). If desired, it is possible to substitute up to two first-year subjects for second-year subjects in this category, although students may only include a total of two first-year subjects to the value of twelve points in the second-year program overall.

In summary form the structure of second year is:

+ Major specialisation (Category A): Three to five second-year level subjects, to the value of eighteen to thirty credit points. One specialisation can be chosen from the subjects taught on the Clayton campus by the departments of Accounting and Finance, Economics, Econometrics or Business Management.

+ Supporting studies (Category B): Two to four second-year level subjects, to the value of twelve to twenty-four points. Subject areas from those listed above but not from the area chosen for specialisation.

+ Electives (Category C): Zero to two second-year level subjects, to the value of a maximum of twelve points, in subject areas from those offered by other faculties or from a limited list of faculty subjects offered on other campuses.

In the case of supporting studies or electives, either category B or C, two first-year subjects to the value of twelve credit points can be substituted for two second-year subjects.

An absolute limit of five subjects from the same year level is placed upon subjects selected from the following groupings of departments/subjects within the faculty:

+ Department of Accounting and Finance, Department of Accounting, Department of Banking and Finance, and accounting, banking or finance-oriented subjects from the Gippsland campus.

+ Department of Econometrics subjects at Clayton, Department of Econometrics subjects at Caulfield/Peninsula, and business statistics-oriented subjects from other departments.

+ Department of Economics subjects at Clayton, and economics-oriented subjects from other departments.

+ Department of Business Management subjects at Clayton, Department of Business Management subjects at Caulfield/ Peninsula, Department of Marketing subjects, and management and marketing subjects from the Gippsland campus.

Students must have their program of study approved by the course director or the course director's nominee.

Third year

The same structure as in second year will apply in third year. Students will, for the major specialisation subjects, select third-year subjects valued between eighteen and thirty points (normally three to five subjects) from the area of specialisation chosen in second year. Supporting studies subjects are to be chosen from third-year subjects offered on the Clayton campus by the departments of Accounting and Finance, Economics, Econometrics and Business Management, but excluding the area of specialisation. Students may select third-year subjects up to the value of twelve points from subjects offered by other faculties or from a limited list of faculty subjects offered on other campuses for their electives. Students should refer to the summary structure for second year for further detail.

In the case of supporting studies or electives, either category B or C, two second-year subjects to the value of twelve credit points can be substituted for two third-year subjects.

The same absolute limit of five subjects from the department/subject groupings listed for second year also applies to third year.

As in first and second year, students must have their program of study approved by the course director or the course director's nominee prior to commencement of the relevant year.

Bachelor of Commerce (Accounting & Finance) - BCom(Acc&Fin)

Course code: 1316

General

The Bachelor of Commerce (Accounting and Finance) degree provides a substantive sequence of subjects in accounting and/or finance along with coherent sequences of subjects in the areas of business statistics and econometrics, management studies and economics. For details of the subjects available in this specialisation see `Specialisations in accounting and finance'. An introduction to all of these areas is available in the first year of the degree with accounting, economics and quantitative studies being required subjects, and management studies being available as an optional fourth subject area. There also will be opportunities for combinations with economic history and with subjects offered outside the faculty, including languages and computing.

Course objectives

On completion of the Bachelor of Commerce (Accounting and Finance) degree students should:

+ have an understanding of the issues underlying major corporate, government and economic policies and an ability to appraise the implications of those major policy decisions in the context of the Australian and international environments;

+ have developed certified analytical and technical skills to assist with solving problems that may arise in their future careers in business, the public sector and the professions;

+ have a continuing commitment to and capacity for independent critical thought and further learning;

+ have a critical understanding of the operations of business, government and the economy, and the management of these for the benefit of society;

+ be able to communicate effectively, both orally and in writing, in their areas of expertise;

+ have developed basic skills in economic analysis, quantitative and computer methods, accounting principles and management;

+ have a specialised level of skills and knowledge in one or more of the disciplines taught within the faculty - accounting, finance, econometrics, economic history, economics and management;

+ have had the opportunity to develop the skills, knowledge and motivation necessary for postgraduate study and research;

+ have satisfied the membership requirements of the Australian Society of Certified Practising Accountants, the Institute of Chartered Accountants in Australia, and the Australian Institute of Bankers provided the appropriate selections of subjects were chosen.

Professional accreditation

This degree is recognised by both the Australian Society of Certified Practising Accountants and the Institute of Chartered Accountants in Australia as meeting academic requirements for membership. This is also true for senior associate membership of the Australian Institute of Bankers. For all professional bodies membership is dependent upon the correct choice of subjects by students. However, an exceptional feature of this degree is that students can meet the membership requirements of all three bodies simultaneously in a single three-year degree.

Course structure

The pass degree requires the satisfactory completion of twenty-four subjects, or subjects to the value of a total of 144 credit points, over a minimum of three full-time years or a maximum of eight years of study. Students may include in their degree subjects to the value of thirty-six credit points from disciplines outside the faculty, normally on the basis of twelve credit points at each year level. All first, second and third-year subjects offered by the Faculty of Business and Economics (Clayton) have a credit value of six points. Full-time students are expected to progress at the rate of eight subjects or forty-eight credit points per year. First-year students normally may not take a second-year subject until at least four first-year subjects have been completed successfully. It should be noted that subjects in the later years of the course have prerequisites and corequisites. In addition, students are expected to take subjects in a yearly sequence even if there are no prerequisite subjects specified. The course structure is shown in chart 3 in the section `Charts of degree structures'.

First year

The first year of the degree will comprise eight semester subjects totalling forty-eight credit points, of which the following shall be compulsory:

+ ECO1000 and ECO1010 (Economics)

+ ECM1020 and ECM1031/2 (Business and economic statistics)

+ AAF1021/2 and AAF1031/2 (Accounting)

The remaining two semester subjects may be selected from the departments of Business Management (MGC prefix only) or Economics or from another faculty. This enables students to complete substantial work in a related field such as management studies, economic history, or in another field such as a language or computing.

Second year

The structure of the second and third years of the degree is similar. Each year comprises eight semester-length subjects, or the equivalent of forty-eight credit points.

To maintain a coherent course structure, subjects may be selected from three categories: major specialisation (category A), supporting studies (category B) and electives (category C). Category A subjects represent a specialised sequence of study of subjects taught by the Department of Accounting and Finance. This specialisation will then be followed throughout the second and third years of the course. For the area of specialisation (category A), students are required to choose between four and six second-year subjects, or subjects with a total credit value between twenty-four and thirty-six points.

Supporting studies (category B) subjects comprise subjects offered by the faculty's departments on the Clayton campus from areas other than category A. Supporting studies subjects might be management studies, economics, or quantitative studies, any two of which may be from first-year subjects. Between two and four second-year subjects, or subjects with a credit value of between twelve and twenty-four points, must be selected from this category.

Elective subjects (category C) comprise subjects from other faculties or from a limited list of faculty subjects from other campuses and students may include up to two subjects, or subjects with a credit value of a maximum of twelve points, in this category. (Whilst each subject offered by the Faculty of Business and Economics (Clayton) has a points value of six, the points value of subjects taken from other faculties may vary, and where this occurs, students must complete the minimum number of points rather than the number of subjects recommended.) If desired, it is possible to substitute up to two first-year subjects for second-year subjects in this category, although students may only include a total of two first-year subjects to the value of twelve points in the second-year program overall.

In summary form the structure of second year is:

+ Major specialisation (category A): Four to six second-year level subjects, to the value of twenty-four to thirty-six credit points from the department of Accounting and Finance.

+ Supporting studies (category B): Two to four second-year level subjects, to the value of twelve to twenty-four points. Subject areas from management studies, economics, or quantitative studies.

+ Electives (category C): Zero to two second-year level subjects, to the value of a maximum of twelve points, in subject areas from those offered by other faculties or from a limited list of faculty subjects offered on other campuses.

In the case of supporting studies or electives, either category B or C, two first-year subjects to the value of twelve credit points can be substituted for two second-year subjects.

Students must have their program of study approved by the course director or the course director's nominee.

Third Year

For the area of specialisation (category A), students are required to choose between four and seven third-year subjects, or subjects with a total credit value between twenty-four and forty-two points.

Supporting studies (category B) subjects comprise subjects offered by the faculty's departments on the Clayton campus from areas other than category A. Supporting studies subjects might be management studies, economics, or quantitative studies, any two of which may be from first-year subjects. Between one and four third-year subjects, or subjects with a credit value of between six and twenty-four points, must be selected from this category.

Elective subjects (category C) comprise subjects from other faculties or from a limited list of faculty subjects from other campuses and students may include up to two subjects, or subjects with a credit value of a maximum of twelve points, in this category. If desired, it is possible to substitute up to two second-year subjects for third-year subjects in this category, although students may only include a total of two second-year subjects to the value of twelve points in the third-year program overall.

In summary form the structure of third year is:

+ Major specialisation (category A): Four to seven third-year level subjects, to the value of twenty-four to forty-two credit points from the department of Accounting and Finance.

+ Supporting studies (category B): One to four third-year level subjects, to the value of six to twenty-four points. Subject areas from management studies, economics, or quantitative studies.

+ Electives (category C): Zero to two second-year level subjects, to the value of a maximum of twelve points, in subject areas from those offered by other faculties or from a limited list of faculty subjects offered on other campuses.

In the case of supporting studies or electives, either category B or C, two second-year subjects to the value of twelve credit points can be substituted for two third-year subjects.

As in first and second year, students must have their program of study approved by the course director or the course director's nominee prior to commencement of the relevant year.

Bachelor of Commerce (Business Statistics) - BCom(BusStat)

Course code: 1317

General

The Bachelor of Commerce (Business Statisitics) degree provides a substantive sequence of subjects in business statistics and econometrics along with coherent sequences of subjects in the areas of accounting and finance, management studies and economics. For details of the subjects available in this specialisation see `Specialisations in econometrics and business statistics'. An introduction to all of these areas is available in the first year of the degree with accounting, economics and quantitative studies being required subjects, and management studies being available as an optional fourth subject area. There also will be opportunities for combinations with economic history and with subjects offered outside the faculty, including mathematics and computing.

Course objectives

On completion of the Bachelor of Commerce (Business Statisitics) degree students should:

+ have an understanding of the issues underlying major corporate, government and economic policies and an ability to appraise the implications of those major policy decisions in the context of the Australian and international environments;

+ have developed certified analytical and technical skills to assist with solving problems that may arise in their future careers in business, the public sector and the professions;

+ have a continuing commitment to and capacity for independent critical thought and further learning;

+ have a critical understanding of the operations of business, government and the economy, and the management of these for the benefit of society;

+ be able to communicate effectively, both orally and in writing, in their areas of expertise;

+ have developed basic skills in economic analysis, quantitative and computer methods, accounting principles and management;

+ have a specialised level of skills and knowledge in business statistics and/or econometrics;

+ have had the opportunity to develop the skills, knowledge and motivation necessary for postgraduate study and research.

Course structure

The pass degree requires the satisfactory completion of twenty-four subjects, or subjects to the value of a total of 144 credit points, over a minimum of three full-time years or a maximum of eight years of study. Students may include in their degree subjects to the value of thirty-six credit points from disciplines outside the faculty, normally on the basis of twelve credit points at each-year level. All first, second and third-year subjects offered by the Faculty of Business and Economics (Clayton) have a credit value of six points. Full-time students are expected to progress at the rate of eight subjects or forty-eight credit points per year. First-year students normally may not take a second-year subject until at least four first-year subjects have been completed successfully. It should be noted that subjects in the later years of the course have prerequisites and corequisites. In addition, students are expected to take subjects in a yearly sequence even if there are no prerequisite subjects specified. The course structure is shown in chart 4 in the section `Charts of degree structures'.

First year

The first year of the degree will comprise eight semester subjects totalling forty-eight credit points, of which the following shall be compulsory:

+ ECO1000 (Economics) and ECO1010 (Economics)

+ ECM1020 and ECM1031/2 (Business and economic statistics)

+ AAF1021/2 and AAF1031/2 (Accounting)

The remaining two semester subjects may be selected from the departments of Business Management (MGC prefix only) or Economics or from another faculty. This enables students to complete substantial work in a related field such as management studies, economic history, or in another field such as mathematics or computing.

Second year

The structure of the second and third years of the degree is similar. Each year comprises eight semester-length subjects, or the equivalent of forty-eight credit points.

To maintain a coherent course structure, subjects may be selected from three categories: major specialisation (category A), supporting studies (category B) and electives (category C). Category A subjects represent a specialised sequence of study of subjects taught by the Department of Econometrics (ECM prefix only). This specialisation will then be followed throughout the second and third years of the course. For the area of specialisation (category A), students are required to choose between four and six second-year subjects, or subjects with a total credit value between twenty-four and thirty-six points.

Supporting studies (category B) subjects comprise subjects offered by the faculty's departments on the Clayton campus from areas other than category A. Supporting studies subjects might be accounting and finance, management studies, or economics, any two of which may be from first-year subjects. Between two and four second-year subjects, or subjects with a credit value of between twelve and twenty-four points, must be selected from this category.

Elective subjects (category C) comprise subjects from other faculties or from a limited list of faculty subjects from other campuses and students may include up to two subjects, or subjects with a credit value of a maximum of twelve points, in this category. (Whilst each subject offered by the Faculty of Business and Economics (Clayton) has a points value of six, the points value of subjects taken from other faculties may vary, and where this occurs, students must complete the minimum number of points rather than the number of subjects recommended.) If desired, it is possible to substitute up to two first-year subjects for second-year subjects in this category, although students may only include a total of two first-year subjects to the value of twelve points in the second-year program overall.

In summary form the structure of second year is:

+ Major specialisation (category A): Four to six second-year level subjects, to the value of twenty-four to thirty-six credit points from the Department of Econometrics(ECM prefix only).

+ Supporting studies (category B): Two to four second-year level subjects, to the value of twelve to twenty-four points. Subject areas from accounting and finance, management studies, or economics.

+ Electives (category C): Zero to two second-year level subjects, to the value of a maximum of twelve points, in subject areas from those offered by other faculties or from a limited list of faculty subjects offered on other campuses.

In the case of supporting studies or electives, either category B or C, two first-year subjects to the value of twelve credit points can be substituted for two second-year subjects.

Students must have their program of study approved by the course director or the course director's nominee.

Third year

For the area of specialisation (category A), students are required to choose between four and seven third-year subjects, or subjects with a total credit value between twenty-four and forty-two points.

Supporting studies (category B) subjects comprise subjects offered by the faculty's departments on the Clayton campus from areas other than category A. Supporting studies subjects might be accounting and finace, management studies, or economics, any two of which may be from first-year subjects. Between one and four third-year subjects, or subjects with a credit value of between six and twenty-four points, must be selected from this category.

Elective subjects (category C) comprise subjects from other faculties or from a limited list of faculty subjects from other campuses and students may include up to two subjects, or subjects with a credit value of a maximum of twelve points, in this category. If desired, it is possible to substitute up to two second-year subjects for third-year subjects in this category, although students may only include a total of two second-year subjects to the value of twelve points in the third-year program overall.

In summary form the structure of third year is:

+ Major specialisation (category A): Four to seven third-year level subjects, to the value of twenty-four to forty-two credit points from the Department of Econometrics(ECM prefix only).

+ Supporting studies (category B): One to four third-year level subjects, to the value of six to twenty-four points. Subject areas from accounting and finance, management studies, or economics.

+ Electives (category C): Zero to two second-year level subjects, to the value of a maximum of twelve points, in subject areas from those offered by other faculties or from a limited list of faculty subjects offered on other campuses.

In the case of supporting studies or electives, either category B or C, two second-year subjects to the value of twelve credit points can be substituted for two third-year subjects.

As in first and second year, students must have their program of study approved by the course director or the course director's nominee prior to commencement of the relevant year.

Bachelor of Commerce (Strategic Management) - BCom(StratMgt)

Course code: 1318

General

The Bachelor of Commerce (Strategic Management) degree provides a substantive sequence of subjects in management studies along with coherent sequences of subjects in the areas of accounting and finance, quantitative studies, and economics. For details of the subjects available in this specialisation see `Specialisations in business management'. An introduction to all of these areas is available in the first year of the degree with all areas being required subjects. There also will be opportunities for combinations with economic history and with subjects offered outside the faculty, including languages and computing.

Course objectives

On completion of the Bachelor of Commerce (Strategic Management) degree students should:

+ have an understanding of the issues underlying major corporate, government and economic policies and an ability to appraise the implications of those major policy decisions in the context of the Australian and international environments;

+ have developed certified analytical and technical skills to assist with solving problems that may arise in their future careers in business, the public sector and the professions;

+ have a continuing commitment to and capacity for independent critical thought and further learning;

+ have a critical understanding of the operations of business, government and the economy, and the management of these for the benefit of society;

+ be able to communicate effectively, both orally and in writing, in their areas of expertise;

+ have developed basic skills in economic analysis, quantitative and computer methods, accounting principles and management;

+ have a specialised level of skills and knowledge in management;

+ have had the opportunity to develop the skills, knowledge and motivation necessary for postgraduate study and research;

Professional accreditation

Graduates of this course are recognised for membership of the Australian Institute of Management (AIM) and the Australian Human Resource Institute (AHRI). For all professional bodies membership is dependent upon the correct choice of subjects by students.

Course structure

The pass degree requires the satisfactory completion of twenty-four subjects, or subjects to the value of a total of 144 credit points, over a minimum of three full-time years or a maximum of eight years of study. Students may include in their degree subjects to the value of thirty-six credit points from disciplines outside the faculty, normally on the basis of twelve credit points at each year level. All first, second and third-year subjects offered by the Faculty of Business and Economics (Clayton) have a credit value of six points. Full-time students are expected to progress at the rate of eight subjects or forty-eight credit points per year. First-year students normally may not take a second-year subject until at least four first-year subjects have been completed successfully. It should be noted that subjects in the later years of the course have prerequisites and corequisites. In addition, students are expected to take subjects in a yearly sequence even if there are no prerequisite subjects specified. The course structure is shown in chart 5 in the section `Charts of degree structures'.

First year

The first year of the degree will comprise eight semester subjects totalling forty-eight credit points, of which the following shall be compulsory:

+ ECM1020 and ECM1031/2 (Business and economic statistics)

+ AAF1021/2 and AAF1031/2 (Accounting)

+ MGC1020 and MGC1030 (Management)

It is strongly recommended that students include ECO1000 and ECO1010 (Economics) as the remaining first-year subjects or, for those wishing to complete a major from another faculty, as category B subjects in second year.

Second year

The structure of the second and third years of the degree is similar. Each year comprises eight semester-length subjects, or the equivalent of forty-eight credit points.

To maintain a coherent course structure, subjects may be selected from three categories: major specialisation (category A), supporting studies (category B) and electives (category C). Category A subjects represent a specialised sequence of study of subjects taught by the Department of Business Management (MGC prefix only). This specialisation will then be followed throughout the second and third years of the course. For the area of specialisation (category A), students are required to choose between four and six second-year subjects, or subjects with a total credit value between twenty-four and thirty-six points.

Supporting studies (category B) subjects comprise subjects offered by the faculty's departments on the Clayton campus from areas other than category A. Supporting studies subjects might be accounting and finance, economics, or quantitative studies, any two of which may be from first-year subjects. Between two and four second-year subjects, or subjects with a credit value of between twelve and twenty-four points, must be selected from this category.

Elective subjects (category C) comprise subjects from other faculties or from a limited list of faculty subjects from other campuses and students may include up to two subjects, or subjects with a credit value of a maximum of twelve points, in this category. (Whilst each subject offered by the Faculty of Business and Economics (Clayton) has a points value of six, the points value of subjects taken from other faculties may vary, and where this occurs, students must complete the minimum number of points rather than the number of subjects recommended.) If desired, it is possible to substitute up to two first-year subjects for second-year subjects in this category, although students may only include a total of two first-year subjects to the value of twelve points in the second-year program overall.

In summary form the structure of second year is:

+ Major specialisation (category A): Four to six second-year level subjects, to the value of twenty-four to thirty-six credit points from the Department of Business Management (MGC prefix only).

+ Supporting studies (category B): Two to four second-year level subjects, to the value of twelve to twenty-four points. Subject areas from accounting and finance, economics, or quantitative studies.

+ Electives (category C): Zero to two second-year level subjects, to the value of a maximum of twelve points, in subject areas from those offered by other faculties or from a limited list of faculty subjects offered on other campuses.

In the case of supporting studies or electives, either category B or C, two first-year subjects to the value of twelve credit points can be substituted for two-second-year subjects.

Students must have their program of study approved by the course director or the course director's nominee.

Third year

For the area of specialisation (category A), students are required to choose between four and seven third-year subjects, or subjects with a total credit value between twenty-four and forty-two points. One of these subjects must be MGC3110 Strategic management.

Supporting studies (category B) subjects comprise subjects offered by the faculty's departments on the Clayton campus from areas other than category A. Supporting studies subjects might be accounting and finance, economics, or quantitative studies, any two of which may be from first-year subjects. Between one and four third-year subjects, or subjects with a credit value of between six and twenty-four points, must be selected from this category.

Elective subjects (category C) comprise subjects from other faculties or from a limited list of faculty subjects from other campuses and students may include up to two subjects, or subjects with a credit value of a maximum of twelve points, in this category. If desired, it is possible to substitute up to two second-year subjects for third-year subjects in this category, although students may only include a total of two second-year subjects to the value of twelve points in the third-year program overall.

In summary form the structure of third year is:

+ Major specialisation (category A): Four to seven third-year level subjects, to the value of twenty-four to forty-two credit points from the Department of Business Management (MGC prefix only). One of these must be MGC3110 Strategic management.

+ Supporting studies (category B): One to four third-year level subjects, to the value of six to twenty-four points. Subject areas from accounting and finance, economics, or quantitative studies.

+ Electives (category C): Zero to two second-year level subjects, to the value of a maximum of twelve points, in subject areas from those offered by other faculties or from a limited list of faculty subjects offered on other campuses.

In the case of supporting studies or electives, either category B or C, two second-year subjects to the value of twelve credit points can be substituted for two third-year subjects.

As in first and second year, students must have their program of study approved by the course director or the course director's nominee prior to commencement of the relevant year.

Progression to Bachelor of Commerce (Honours)

Students whose academic performance is considered of sufficient standard in any of the Bachelor of Commerce degrees (generic or specialised) may complete a fourth year in one of the specialisations of accounting and finance, economics, economic history, econometrics or management and be awarded the Bachelor of Commerce degree with honours. It is also possible to undertake a joint fourth-year honours honours course in either the departments of Accounting and Finance and Econometrics, or the departments of Economics and Econometrics.

It should be noted that the honours year is usually required to be undertaken on a full-time basis, but the head of the department may give permission for the year to be completed on a part-time basis in certain circumstances.

First and second year

The selection of subjects in first and second year is the same as for the pass degree. Students wishing to attempt an honours degree should normally have gained at least credit grades in the subjects taught by the department in which they intend to take honours. Students who do not obtain credits in the first year of the course but who obtain a credit average in second year may also be considered for honours candidature.

Third year

In their third year of full-time study students will be required to select a third-year honours specialisation. Students who wish to enrol in one of the honours courses should apply to the head of the department concerned at the time of re-enrolment. Some departments require students to enrol in an additional, unweighted honours subject.

+ Accounting and Finance: No special third-year honours subject. Students who are likely to proceed to fourth-year honours are invited to attend separate honours tutorials in their main third-year accounting subjects.

+ Econometrics: Students must take at least three third-year econometrics subjects plus the third-year honours subject ECM3470 (Econometrics (pre-honours)). Students should normally include ECM3400 and ECM3410. The other appropriate third-year subjects are ECM3430, ECM3450, ECM3460 and ECM3480.

+ Economic History: Students must take at least three third-year economic history subjects plus the third-year honours subject EC03580 (Economic history (honours)).

+ Economics: Students must take at least four third-year economics subjects, including ECO3855 (Topics in economics), plus the third-year honours subject ECO3850 (Economics (honours)).

+ Management: prospective students in management studies need to pursue a major in management passed at a credit or higher standard.

Students who have not completed an honours subject in third-year will be required to do additional work over the vacation period prior to entering the fourth-year honours course.

For specific information on the structure and requirements of the honours specialisations available in the departments of Accounting and Finance, Economics, Econometrics and Management please see the section `Honours degrees' at the end of this chapter.

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