Bachelor of Commerce

The Bachelor of Commerce (BCom) at Melbourne equips graduates with the knowledge and technical skills necessary to understand and participate in the modern business world. The course also prepares students for subsequent graduate studies and allows them to achieve the highest level of success in their professional careers.

The Bachelor of Commerce provides a solid foundation in economics, quantitative methods and organisational behaviour. The structure of the course requires students to study compulsory and elective subjects from the core program. These determine a student's major field of study.

A feature of all the new generation undergraduate degrees is the compulsory breadth component. Students choose a number of subjects from disciplines outside of commerce, exposing them to multi-disciplinary knowledge and skills.

The course allows students to meet accreditation requirements specified by accounting and actuarial professional bodies. Graduate options upon completion of the degree include proceeding directly to employment, an Honours year, or further professional or research related graduate studies.

The Bachelor of Commerce has the objective of preparing graduates who embody the University of Melbourne graduate attributes. It seeks to provide students with the knowledge and technical skills necessary to understand and participate in the modern business world, to prepare them for subsequent graduate studies and to allow them to achieve the highest level of success in their professional careers.

1. Learning goal: Graduates of this degree will be knowledgeable across the disciplines of the faculty.

Objectives to achieve this goal
On successful completion of this degree students will be able to:

• Demonstrate a broad knowledge and understanding of selected fields of study in the core program of study, with an in-depth understanding in at least one of these fields.
• Explain the basic concepts and theories and institutional arrangements underlying the operations and performance of modern mixed economies using Australia as a principal example but also exploring other economies in the region.

2. Learning goal: Graduates of this degree will be knowledgeable of disciplines outside the faculty.

Objectives to achieve this goal
On successful completion of this degree students will be able to:

• Reflect a general understanding of the concepts, principles, theories and arguments of selected areas of study outside the core disciplines of economics and business.
• Explain and use theories, concepts, and findings from the social sciences to effectively manage people and organisations for the benefit of the full range of organisational stakeholders, and contribute positively to the development of organisations and society particularly in relation to business, government and commercial professions.

3. Learning goal: Graduates of this degree will be capable of using basic research methodologies and information sources.

Objectives to achieve this goal
On successful completion of this degree students will be able to:

• Engage confidently in self-directed study and research and have a continuing commitment to learning.
• Demonstrate ability to access, evaluate and utilise information from diverse sources and be proficient in the use of appropriate modern technologies.
• Be independent in their learning and respond in a critically informed manner to new ideas, research findings, methodologies and theoretical frameworks in their specialised field of study.

4. Learning goal: Graduates of this degree will be effective problem solvers.

Objectives to achieve this goal
On successful completion of this degree students will be able to:

• Apply critical and analytical skills and methods to the identification, evaluation and resolution of complex problems and to do so from the standpoint of specialised knowledge developed in at least one specific commerce disciplines.
• Contribute to issues of concern to society within the framework of disciplines studied both within and outside the core program.
• Appreciate and participate in national and international debates and discussions on economic, commercial, and business issues.

5. Learning goal: Graduates of this degree will be productive workplace communicators.

Objectives to achieve this goal
On successful completion of this degree students will be able to:

• Demonstrate an ability to communicate ideas effectively in both written and oral formats.
• Qualify for employment in a wide range of occupations.
• Work competently and productively in groups, exercising teamwork and interpersonal skills.

General Bachelor of Commerce Course Requirements

• A total of 300 points must be completed.

• No more than 125 level-1 points can be taken.

• At least 75 level-3 points must be completed, of which at least 50 points must be commerce subjects undertake at the University of Melbourne.

• At least 200 and no more than 225 commerce points must be completed.

• At least 75 and no more than 100 breadth points must be completed, of which at least 12.5 points will normally be at level 3. (See special requirements for students pursuing accreditation in actuarial studies.)

• The compulsory component must be completed. Further details about compulsory subjects are listed below.

• At least one commerce major must be completed, and up to two commerce majors can be completed.

• A complementary specialisation that includes 100 breadth points can be completed.

• Students pursuing accounting accreditation must include three law subjects in the breadth component.

• Students pursuing accreditation in actuarial studies (defined as those students who successfully complete 300-312 Actuarial Modelling I) need to undertake 75 non-commerce points including two mathematics subjects, 620-201 Probability, 620-202 Statistics and two breadth subjects that are not mathematics or statistics.

• Students must satisfy prerequisites for subjects before enrolling in those subjects.

Commerce Component
The commerce component consists of subjects across the business discipline areas; that is, subjects with prefixes 306 (accounting), 300 (actuarial studies), 316 (economics), 333 (finance), and 325 (management and marketing). You must complete a minimum of 200 and a maximum of 225 Commerce points - usually 16-18 subjects. Students who commence in 2010 and do an approved engineering breadth sequence complete 187.5 commerce points.

Students must complete the following compulsory subjects:
• 316-102 Introductory Microeconomics
• 316-101 Introductory Macroeconomics
• 325-201 Organisational Behaviour
• 316-130 Quantitative Methods 1 plus an approved level-2 quantitative subject (for students not taking the mathematics path to meet the quantitative requirement of the course). Please see Quantitative requirement section below for information about how to meet the quantitative requirements of the course.

Breadth Component
Bachelor of Commerce students must take between 75 and 100 points (usually 6 – 8 subjects) of breadth subjects from non-commerce disciplines. Students who commence in 2010 and do an approved engineering breadth sequence complete 112.5 breadth points. Students may choose from a range of subjects offered in other undergraduate courses: these could include, for example, biology, philosophy, geography, mathematics, and/or music. There is also an exciting collection of University-wide breadth subjects that all students enrolled in a Melbourne Model New Generation undergraduate degree can study. These cover topics such as climate change and indigenous australia. The University-wide breadth subjects have been specifically designed to be inter-disciplinary. For example, students enrolled in 800-191 Introduction to Climate Change will learn about the social, economic and environmental impact of climate change.

Quantitative requirement
There are two ways to satisfy the quantitative requirement of the course:

Option 1 – standard path:
• 316-130 Quantitative Methods 1; and
• one level-2 quantitative subject from the list below:

316-206 Quantitative Methods 2 or

316-205 Introductory Econometrics or

325-210 Managerial Decision Analysis or

325-212 Market Research

Option 2 – mathematics path:
Two level-2 subjects are taken in second year:
• EITHER 620-205 Probability for Statistics (for students not pursuing Actuarial Studies) OR 620-201 Probability (for students pursuing Actuarial Studies); and
• 620-202 Statistics

The level-1 prerequisites for the mathematics path subjects above are as follows:

Prerequisites for students with a study score of 25 or above in units 3 and 4 VCE Mathematical Methods (or equivalent):
• 620-154 Calculus 1
• 620-155 Calculus 2
• 620-156 Linear Algebra

Prerequisites for students with a study score of 27 or above in units 3 and 4 VCE Specialist Mathematics (or equivalent):
• 620-155 Calculus 2
• 620-156 Linear Algebra

Prerequisites for students with a study score of 38 or above in units 3 and 4 VCE Specialist Mathematics (or equivalent):
• 620-157 Accelerated Mathematics 1
• 620-158 Accelerated Mathematics 2

It is recommended that students not pursuing actuarial studies meet the prerequisites for 620-205 Probability for Statistics and 620-202 Statistics by enrolling in 620-155 Calculus 2 and 620-156 Linear Algebra, even if they meet prerequisites for 620-157 Accelerated Mathematics 1 and 620-158 Accelerated Mathematics 2. Students intending to pursue actuarial studies will take the mathematics path and enrol in 620-201 Probability.

Which Quantitative Subjects?
The choice of quantitative subjects will depend on your chosen field/s of study, your level of ability and interest in mathematics and the subjects in which you wish to enrol later in your degree.

Through the mathematics path, it is possible to satisfy the quantitative requirement of the course by taking mathematics subjects as breadth. This option is suitable for students who enjoy mathematics and have strong mathematical skills.

In deciding which quantitative subjects to take, you should check the prerequisites of the level-2 and level-3 subjects you wish to take to ensure you make the most appropriate choice.

Majors Available for the Bachelor of Commerce
Students must complete at least one major and can complete up to two majors within the BCom. With the exception of the multidisciplinary business major, a major requires completion of 3 specified subjects at level-3. Subjects required for each of the majors are:

• Accounting: 306-301 Financial Accounting, 306-302 Enterprise Performance Management, 306-304 Auditing and Assurance Services

• Actuarial Studies: 37.5 level-3 points chosen from: 300-312 Actuarial Modelling I, 300-313 Actuarial Modelling II, 300-314 Contingencies (double subject), 300-315 Actuarial Statistics, 300-316 Models for Insurance and Finance, 300-334 Financial Mathematics III

• Business: 75 level-3 points from three or more areas of study within the BCom.

• Economics: 316-312 Macroeconomics, 316-313 Microeconomics, 316-316 Basic Econometrics or 316-317 Econometrics

• Finance: 333-301 Investments, 333-302 Corporate Finance, 333-309 Derivative Securities

• Management: 37.5 level-3 points chosen from: 325-304 Managing in Contemporary Organisations, 325-312 International Human Resource Management, 325-313 Managing Strategic Change, 325-314 Managing Entrepreneurship and Innovation, 325-316 Organisations, Ethics and Society, 325-321 Supply Chain Management, 325-325 Governance and the International Firm, 325-330 Business Practicum, 325-331 Managing Conflict in Global Workplaces, 325-332 Chinese Business and Economy, 325-333 Strategic Management , 325-335 Career Management, 325-338 Business Communication.

• Marketing: 37.5 level-3 points chosen from 325-306 Service and Relationship Marketing, 325-327 Retail Management, 325336 Marketing and Society, 325337 Neuromarketing, 325339 Product Management, 325340 Marketing Channels, 325341 Advertising and Promotions.

Breadth rules for the Bachelor of Commerce

• Students must normally complete at least one level-3 breadth subject. In many cases this will require prerequisite first and second year level study;

• Students may take all of their 75 to 100 points in one breadth discipline (such as a language, mathematics, engineering or music studies);

• Certain breadth subjects in law or mathematics must be taken to gain accounting or actuarial accreditation;

• Students pursuing accreditation in actuarial studies (defined as those students who successfully complete 300-312 Actuarial Modelling I) must take 75 non-commerce points including two mathematics subjects, 620-201 Probability, 620-202 Statistics and two breadth subjects that are not mathematics or statistics;

• 2010 commencing students pursuing an approved engineering pathway will undertake 112.5 breadth and 187.5 commerce points.

Breadth subjects available for Bachelor of Commerce students:
• Subjects from undergraduate programs in Arts, Environments, Music or Science (where these are expressly available as breadth subjects for students based in another discipline);
• University Breadth Subjects (UBS), which are taught by multiple faculties and examine a major topic or theme from different disciplinary perspectives;
• English as a Second Language subjects;
• There are approved sequences of breadth subjects available which can lead to further study, for example, engineering, psychology, information systems and informatics

Breadth subjects NOT available for Bachelor of Commerce students:
• Any subjects offered by the Departments of Accounting and Business Information Systems, Economics, Finance and Marketing and Management and the Centre for Actuarial Studies cannot be taken as breadth subjects (even if expressly available as a breadth subject for students based in another degree). In other words, any subjects with a subject code where the first three numbers are 300-, 306-, 316-, 333-, or 325- cannot be taken as breadth subjects.

For the most up-to-date admission requirements visit:

www.futurestudents.unimelb.edu.au

Graduate degrees offer the opportunity for graduates to obtain a professional qualification or develop their expertise in an individual field. Graduate studies in commerce are also available for non-commerce graduates.

Graduate Professional Degrees are professional qualifications in disciplines including law, engineering and teaching. Fifty percent of designated places will be Commonwealth supported.

Graduate Programs in Commerce are business qualifications open to graduates from any discipline. They also allow commerce graduates to broaden their knowledge of business and management or extend their expertise in a particular field.

The Honours year provides advanced studies in individual commerce disciplines and is a gateway to research degrees such as the PhD.

Bachelor of Commerce graduates will have the following attributes and skills:

Academically excellent

• Analysis and evaluation of evidence in the commerce disciplines in support of an argument, proposition or solution to problems in organisations and in society.
• Strategic and critical thinking in relation to business and commerce related issues.
• Research skills including the retrieval of information from variety of business, commerce and economics sources.

Knowledgeable across disciplines

• Synthesis of knowledge across disciplines.
• Problem solving through the application of appropriate theories, principles and data.
• Skilled in the use of computer systems and software used in commerce and business through practical assignments, exercises and demonstrations.

Attuned to cultural diversity

• Aware of cultural differences and able to account for these in developing solutions to commerce related problems.

Active global citizens

• Effective communicators on matters related to economics and commerce.
• Participants in discussion and debate on national and international issues related to the disciplines of the faculty.

Leaders in communities

• Effective decision makers in business and commerce.
• Ethical and collegial in professional practice.

• Effective communication on matters related to business and economics and to an area of specialisation
• Appropriate use of computer systems and software used in business and economics
• Critical thinking and analysis skills
• Information discovery, synthesis, retrieval and evaluation skills
• Application of theory to practice
• Interpretation and analysis of data using statistical reasoning
• Attention to detail
• Independence in learning
• Positive contribution to teamwork skills
• Time management skills