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 -GippslandPart 2

CONTENTS

  1. Bachelor of Business on campus and by distance education - BBus
  2. Bachelor of Applied Science/Bachelor of Business Double Degree by distance education - BAppSc/BBus

Bachelor of Business on campus and by distance education - BBus

Course code: BBBUDG

Course director: Mr Richard Hartshorn

The course

The Bachelor of Business degree provides an opportunity for both school leavers and those already in employment to undertake tertiary studies in a business course that is flexible and adaptable.

The course is vocationally oriented. It aims to equip graduates for employment in a wide range of occupations in industry and commerce, small business, professional accounting, insurance, banking and finance, managing human resources, teaching, and in government and semi-government enterprises.

Objectives

Upon completion of this course students will:

+ have fostered development of social awareness with the vision and perspective to integrate and apply their knowledge and skills to the benefit of society;

+ have undertaken academically rigorous core subjects and sequentially structured disciplinary streams which satisfy requirements for admission to postgraduate studies and professional bodies;

+ have enjoyed the opportunity to flexibly design multidisciplinary programs to meet their individual needs;

+ have cultivated positive personal, social and business values, especially integrity, tolerance, self-discipline and a commitment to lifelong learning.

Subject to completion of the appropriate subjects of study, graduates of the Bachelor of Business degree satisfy the academic requirements for membership of:

+ Australian Human Resources Institute

+ Australian Institute of Bankers

+ Australian Institute of Management

+ Australian Marketing Institute

+ Australian Society of Certified Practising Accountants

+ Institute of Chartered Accountants.

Course structure

The Bachelor of Business degree is awarded on completion of twenty-four semester-length subjects taken over three years full-time (on-campus) or six years of part-time study (by distance education) based on the following requirements:

(a) A candidate must complete twenty-four semester subjects.

(b) A candidate must complete the following seven `core' subjects:

+ GBU1001 Introductory accounting A

+ GBU1101 Introduction to economics

+ GBU1201 Introduction to business law

+ GBU1302 Management theory and functions

+ GBU1401 Introduction to marketing

+ GAS1751 Quantitative methods 1

+ GCO1851 Computers in business

(c) A candidate must complete one major study of at least six semester subjects chosen from accounting, economics, management, marketing, and tourism management and two submajors of at least four semester subjects chosen from the above disciplines and computing and law; or a candidate must complete two majors of at least six semester subjects chosen from accounting, economics, management, marketing and tourism management.

(d) A candidate may include up to six semester subjects offered at degree level by other disciplines or academic units within Monash University, provided they are of equivalent academic standing.

Major and submajor studies

Major and submajor studies are available in accounting, economics, management, marketing and tourism management with submajor studies offered in computing and law.

Prerequisites

A student may not enrol in any subject for which prerequisite subjects have not been successfully completed.

Academic progress

Students should carefully select their program of studies. Advice on course planning is available from the course advisers. This guidance will extend to counselling concerned with meeting the requirements for membership of professional bodies.

Business teaching areas

Accounting (major)

The course includes an accounting major with a minimum of six subjects. Additional accounting subjects are also provided for students who wish to satisfy the educational requirement for admission to the qualifying studies of the professional accounting bodies.

Objectives

The primary objective of the accounting major is to provide students with the theoretical knowledge and practical skills to competently and professionally contribute to the management, information systems structure and operation, and financial planning of business entities. It aims also to develop skills in information technology, problem solving and communication, and an understanding of the relationships among various disciplines which contribute to a broad based multidisciplinary business education.

Course structure

The following accounting subjects are available to students undertaking the Bachelor of Business degree:

+ GBU1001 Introductory accounting A*

+ GBU1002 Introductory accounting B*

+ GBU2003 Accounting for management information*

+ GBU2004 Budgeting and management techniques*

+ GBU2005 Financial accounting*

+ GBU3006 Accounting theory and current issues*

+ GBU3007 Auditing*

+ GBU3008 Accounting research project

+ GBU3009 Project planning and control

+ GBU3010 Business finance*

+ GBU3011 Advanced financial accounting*

+ GBU3012 Investment and portfolio analysis.

To major in accounting, the first two subjects are compulsory.

Students seeking membership of the professional accounting bodies in Australia must complete the Bachelor of Business degree with the nine accounting subjects specified by the professional bodies marked with an asterisk (*) above.

Successful completion of the required subjects will satisfy the tertiary requirements for admission as an Associate of the Australian Society of Certified Practising Accountants (ASA). To achieve CPA status, graduates would need to complete the society's CPA program and satisfy an experience requirement.

Graduates who take these required subjects also satisfy the tertiary requirements for admission to the Institute of Chartered Accountants. Membership may be applied for following successful completion of the institute's professional-year program, and an experience requirement.

Australian Society of Certified Practising Accountants

For associate membership:

+ GAS1751 Quantitative methods 1

+ GBU1001 Introductory accounting A

+ GBU1002 Introductory accounting B

+ GBU1101 Introduction to economics

+ GBU1201 Introduction to business law

+ GBU1202 Contract law

+ GBU2104 Microeconomics

+ GBU2003 Accounting for management information

+ GBU2004 Budgeting and management techniques

+ GBU2005 Financial accounting

+ GBU3006 Accounting theory and current issues

+ GBU3010 Business finance

+ GBU3011 Advanced financial accounting

+ GCO1851 Computers in business

plus one sequence of the following group of subjects:

(i) Professional accounting and entry to CPA program

+ GBU2203 Law of business organisations

+ GBU2204 Taxation law and practice

+ GBU3007 Auditing

(ii) Finance

+ GBU2105 International trade and finance

+ GBU3012 Investment and portfolio analysis

+ GBU3109 Money and banking

+ GBU3110 Financial institutions management

(iii) Information technology

+ GCO2813 Information systems 2

+ GCO2851 Programming for business applications

+ GCO2852 Business systems

+ GCO3851 Database management systems

Institute of Chartered Accountants

Tertiary requirements for admission:

+ GBU1001 Introductory accounting A

+ GBU1002 Introductory accounting B

+ GBU2003 Accounting for management information systems

+ GBU2004 Budgeting and management techniques

+ GBU2005 Financial accounting

+ GBU3006 Accounting theory and current issues

+ GBU3007 Auditing

+ GBU3010 Business finance

+ GBU3011 Advanced financial accounting

+ GBU1101 Introduction to economics

+ GBU1201 Introduction to business law

+ GBU1202 Contract law

+ GBU2203 Law of business organisations

+ GBU2204 Taxation law and practice

+ GAS1751 Quantitative methods

+ GCO1851 Computers in business

Management (major)

Objectives

The primary objective of the management major is to develop, within a multidisciplinary framework, a sound understanding of management theories and practices which reflect high ethical standards and contribute to business and professional success and the optimisation of organisational resource use. Provision is made for students to focus on strategic management and/or employment relations and for those demonstrating high levels of achievement to proceed to honours and postgraduate studies.

Structure of the management major

Two vocational streams are available. One is the strategic management stream and the other is the employment relations stream. To complete the major a student is required to satisfy the examiners in six of the following subjects.

Compulsory subjects

+ GBU1302 Management theory and functions

+ GBU2304 Organisational behaviour

Strategic management stream (the following four subjects)

+ GBU3308 Organisational change and development

+ GBU2305 Management methods and decision making

+ GBU3313 Strategic management

+ GBU3319 Management processes and systems

Employment relations stream (the two compulsory subjects plus any four of the following subjects satisfying appropriate pre-requisites)

+ GBU3308 Organisational change and development

+ GBU3309 Industrial relations

+ GBU3312 Human resource management

+ GBU3314 Training and development

+ GBU3316 Employment relations policy and practice

+ GBU3317 Strategic human resource management

+ GBU3318 Contemporary issues in employment relations

+ GBU3320 Asian employment relations

To satisfy academic requirements for professional membership of the Australian Human Resources Institute (AHRI) students are recommended to complete all subjects offered in the employment relations stream as well as GBU3206 (Industrial and labour law) and GBU3107 (Labour economics).

Students completing a submajor in management are required to complete two compulsory subjects, GBU1302 (Management theory and functions) and GBU2304 (Organisational behaviour), plus two of the other subjects listed above.

Students who plan a management major will find it useful to undertake studies in law, economics and accounting, whilst subjects such as organisational psychology and politics may well be complementary.

Students undertaking the strategic management stream should consider application for membership of the Australian Institute of Management.

Economics (major)

Objectives

The economics major aims to provide a rigorous education in the ethics, theories and principles of economics, and their application, developed sequentially over three levels of difficulty, including advanced studies in at least two specialised branches of the discipline. Students will acquire the knowledge and skills necessary to contribute substantially to business and the professions and, given a sufficient level of scholastic achievement, to advance to honours and postgraduate students. Graduates will also have the ability to view their learning in a multidisciplinary context which takes into account the relationship between economics and other disciplines of business and social sciences.

Structure

Students enrolling in the Bachelor of Business degree may elect to complete a major of at least six subjects of economics, or may select fewer economics subjects as electives to support their chosen majors. Subjects available are:

+ GBU1101 Introduction to economics

+ GBU1102 Macroeconomics

+ GBU1103 Economy and society

+ GBU2104 Microeconomics

+ GBU2105 International trade and finance

+ GBU3106 Economic development

+ GBU3107 Labour economics

+ GBU3108 Public sector economics

+ GBU3109 Money and banking

+ GBU3110 Financial institutions management

+ GBU3111 Industry and government.

Students enrolling in economics for the first time will normally take GBU1101 (Introduction to economics) in first semester and GBU1102 (Macroeconomics) in second semester of their first year, and GBU2104 (Microeconomics) in first semester of second year. After passing these subjects, they will then normally progress to a selection of upper-level subjects, although students are encouraged to complete GBU2105 (International trade and finance) in second semester of second year.

Marketing (major)

Objectives

The objectives of the marketing major are, within the framework of the multidisciplinary degree course, to provide students with understandings of the role, scope, principles and concepts of marketing; to develop knowledge and skills in consumer behaviour, marketing research, promotion and sales management; and to cultivate the ability to operate effectively in domestic and international marketing environment. Students demonstrating a high level of scholastic achievement are encouraged to undertake higher level studies.

Structure

To complete the major in marketing a student would be required to satisfy the examiners in six of the following subjects or to complete a submajor in four of the following subjects:

+ GBU1401 Introduction to marketing*#

+ GBU1402 Consumer behaviour*#

+ GBU2404 Market research methods*#

+ GBU2405 Promotion management

+ GBU3405 Marketing strategy*

+ GBU3406 Research project in marketing

+ GBU3408 Sales management

+ GBU3409 Export marketing

+ GBU3410 International marketing*#

The Bachelor of Business with a major in marketing will satisfy the requirements for affiliate membership to the Australian Marketing Institute.

* Compulsory subjects for major.
# Compulsory subjects for a submajor.

Tourism management (major)

Objective

The primary objective of the tourism management major is to provide an industry-specific focus for students seeking to complement (multidisciplinary) studies in management, economics, marketing and accounting. The sequence of subjects aims to cultivate in students the knowledge, skills, values and attitudes which will, with appropriate experience, equip them to function effectively in management positions in various sectors of the tourism industry, or to proceed to higher level studies in tourism.

Structure

The major in tourism management commences with a broad overview of the industry and progresses to a more detailed examination of tourism business operations management. The advanced level subjects are concerned with destination management and project development. With the compulsory core subjects, and appropriate choices in other major or submajor streams, graduates with a tourism management major will be well prepared to enter a management career path in public or private tourism-related activities, or for successful operation of their own tourism business.

The major stream in tourism management comprises six compulsory subjects as follows:

+ GBU1501 Tourism - social environment

+ GBU1502 Tourism - policy and regulations

+ GBU2503 Travel services management

+ GBU2504 Hospitality services management

+ GBU3505 Tourism management processes

+ GBU3506 Tourism management projects.

Law (submajor)

Law is offered as a submajor in the Bachelor of Business degree. All students must complete GBU1201 (Introduction to business law). The following additional subjects should be taken for professional studies in accounting:

+ GBU1202 Contract law

+ GBU2203 Law of business organisations

+ GBU2204 Taxation law and practice

Students majoring in other areas may wish to take a law submajor or a number of law subjects which will support their area of major study. In addition to the four subjects mentioned above, a number of optional subjects are available to on-campus and distance education students. Availability depends on the other commitments of the members of staff and the number of students opting for a subject. Subject to that, the following subjects will be available as options:

+ GBU3205 Administrative law

+ GBU3206 Industrial and labour law

+ GBU3207 Advanced taxation

+ GBU3208 Banking law and lending practice.

In addition to supporting areas of major studies, the law component in the business degree is designed to acquaint students with the legal problems they might encounter in their careers, and to equip accountancy students for professional practice.

Computing (submajor)

Business computing is offered as a submajor in the Bachelor of Business degree, and may be used to gain advanced status as a member of the Australian Society of Certified Practising Accountants. The subjects available in the computing submajor are:

+ GCO1851 Computers in business

+ GCO2813 Information systems 2

+ GCO2851 Programming for business applications

+ GCO2852 Business systems

+ GCO3851 Database management systems.

Banking and finance (specialisation)

Students wishing to satisfy the academic requirements of the Australian Institute of Bankers for admittance to senior associate status must complete the following professionally accredited subjects:

+ GBU1302 Management theory and functions

+ GBU1401 Introduction to marketing

+ GBU3109 Money and banking

+ GBU3110 Financial institutions management

+ GBU3010 Business finance

+ GBU3208 Banking law and lending practice

In addition although the above subjects satisfy professional entry requirements, the Australian Institute of Bankers recommends the following specialised stream:

+ GBU2105 International trade and finance

+ GBU3012 Investment and portfolio analysis

Entrance requirements

(a) Victorian Certificate of Education (VCE)

Satisfactory completion of the VCE with English, units 3 and 4, and it is desirable that students possess an average pass grade in Year-11 maths.

(b) Comparable qualifications

Applicants may also satisfy entrance requirements on the basis of qualifications deemed to be the equivalent of the above VCE: TAFE qualifications (eg the first year of a TAFE associate diploma or a TAFE qualification that satisfies the first year of a TAFE associate diploma) or comparable Year-12 qualifications including International Baccalaureate or approved tertiary-level study completed in Victoria, other States of Australia or overseas.

(c) Special admission - mature age

Those who have reached at least twenty-three years of age in the year of application and who have either not satisfied the above entrance requirements or have done so more than three years prior to their application, may apply for entry. Applicants applying in this way will be required to sit an admissions test and undertake other assessments which may be prescribed.

(d) Open Learning

Successful completion of at least two open learning subjects.

Technology requirements

It is strongly recommended that students have access to a personal computer. (Please note that the School of Business and Electronic Commerce* in an IBM-compatible windows environment) It is also recommended that students have access to a modem to facilitate email communication with teaching staff.

* Subject to final university approval.

Credit for work done elsewhere

Credits and exemptions may be considered for previous tertiary-level study or post-secondary study (including TAFE) in Australia and overseas. Each application is assessed on a case-by-case basis. It is essential that subjects submitted for credit and exemption fit the philosophy and principles of this degree course of study. Subjects studied more than ten years ago are regarded as beyond a reasonable time limit and will not generally be considered for credit/exemption.

Fees

The Higher Education Contribution Scheme (HECS) requires contributions to be made by students towards the cost of their higher education studies commenced after 1 January 1989. The amount to be contributed depends on the study load (subjects) undertaken each semester, and is payable whether or not a pass in each subject is achieved. An additional fee will also apply for amenities and library services. More detailed information relating to HECS can be obtained from the Student Administration Office, Monash University Gippsland campus, Churchill, Victoria 3842.

How to apply

On campus

(a) Application through the Victorian Tertiary Admissions Centre (VTAC)

School leavers (VCE) and applicants with comparable Victorian, interstate or overseas Year 12 or tertiary qualifications should apply through the Victorian Tertiary Admissions Centre (VTAC) by phoning the VTAC 1900 Telecom service.

(b) Special admission - mature age

Those seeking special admission should also make application and arrangements for the admissions test through VTAC.

By distance education

(a) Victorian Certificate of Education (VCE) or comparable qualifications

Applicants for admission to the Bachelor of Business by distance education are required to meet the normal entry requirements given above and must also detail in their application those factors which would enable them to study successfully in a distance education mode.

(b) Special admission - mature age

Those seeking special admission to the Bachelor of Business by distance education should also make application and arrangements for the admissions test through the Student Administration Office, Monash University Gippsland campus. Applications for 1997 entry should be returned by 23 September 1995 to be given admission priority.

Application forms for (a) and (b) above are available from Student Administration Office, Monash University Gippsland campus, Churchill, Victoria 3842. Telephone: (051) 226 287 or (03) 9902 6287. Applications for study by distance education should be returned by 15 September each year and must include certified documentary evidence of entry qualifications.

Further inquiries

Information on this course may be obtained by contacting the School of Business and Electronic Commerce* telephone (03) 9902 6380 or (051) 226380. For more specific details on the course, contact the course advisers, telephone (03) 9902 6642 or (051) 226 642.

* Subject to final university approval.

Bachelor of Applied Science/Bachelor of Business Double Degree by distance education - BAppSc/BBus

Course code: ABABDG

Course director: Associate Professor Philip Rayment

The course

The course involves four years of full-time study or the equivalent in part-time or distance education.

Objectives

On completion of the course, students will

+ have a sound knowledge and understanding of business principles and practice;

+ be qualified to work at a professional level in a scientifically oriented environment in which modern business techniques are required, or in a commercial environment in which a background in a science or information technology is desirable;

+ through the breadth and depth of knowledge acquired by undertaking the joint degree be able to contribute significantly to Australia's performance in developing and marketing products which reflect customer needs, the country's resources and its scientific and technological expertise.

Australia as a nation must improve its track record in developing and marketing products and services which exploit its resources and strong scientific and technological expertise. This will require more graduates with the breadth of skills offered by the new combined degree.

Entrance requirements

The basic requirement for entry to the course is satisfactory completion of an upper secondary school program equivalent to the Victorian Certificate of Education. Applicants will be expected to have above-average results in Year 12 level English and Mathematics, plus preferably at least one of Information technology, Biology, Chemistry and Physics. Some studies in business-related areas are helpful but not essential.

Students who have completed the first year of the normal Bachelor of Applied Science or Bachelor of Business at the Gippsland campus with good academic results may be admitted to the second year of the double degree with full credit for appropriate first-year studies.

Mature-age applicants are assessed on the basis of their employment and overall educational background and career objectives.

Course structure

Subjects with a total credit value of at least 192 points are to be completed, meeting the following requirements.

(a) Completion of the following seven business core subjects:

+ GBU1401 Introduction to marketing

+ GBU1001 Introductory accounting A

+ GBU1201 Introduction to business law

+ GBU1302 Management theory and functions

+ GBU1101 Introduction to economics

+ GBU1851 Computers in business

+ GAS1751 Quantitative methods I

(b) Completion of three subjects covering information transfer and problem solving in science and interdisciplinary perspectives on science and technology:

+ GAS1062 Communicaton and methods in science

+ GAS2062 Scientific thought and methods

+ GAS1030 Science and society

(c) Either

(i) completion of two business major sequences, each of six subjects of credit (but including one core subject from (a) above) selected from:

+ Accounting

+ Economics

+ Management

+ Marketing

(ii) Completion of one business major sequence of six subjects drawn from strands in (c) (i) above, combined with two submajor sequences each of four subjects of credit drawn from:

+ Accounting

+ Economics

+ Management

+ Marketing

+ Business computing

+ Business law.

(d) Completion of two major sequences, each of six subjects of credit, selected from the strands of the Bachelor of Applied Science (multidisciplinary program), which include:

+ Biological science (either biochemistry or microbiology)

+ Chemical science (either chemistry or applied chemistry)

+ Physical science (either physical science or applied physics)

+ Computing

+ Mathematics (one of applied mathematics, pure mathematics, or statistics)

+ Operations research

+ Psychology

Please refer to the Faculty of Science handbook and the Bachelor of Business section of this handbook for further details. Course advisers in the School of Applied Science and the School of Business and Electronic Commerce* will be happy to give advice on this double degree program.

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