Bachelor of Commerce (Degree with Honours)

The honours year is an additional (fourth) year of specialised study in one or two of the following disciplines: accounting, finance, actuarial studies, economics, management, and related areas. It is an integrated program with small classes and an emphasis on research and specialised subject areas. It is normally taken on a full-time basis immediately after finishing the requirements for the three-year pass degree (degree requirements can be found in the Undergraduate Studies Handbook). Provision exists for deferred entry in exceptional circumstances.

Intending applicants should note that students must commence the honours year within two years of completing the requirements of the ordinary (pass) degree.

The honours year is open to commerce students and all double degree commerce students. Graduates of other institutions are also welcome to apply.

The honours degree is an entry qualification for a masters degree and a PhD within Australia or overseas. A good honours degree also assists students in obtaining scholarships or other forms of financial support to undertake higher degrees. Career advancement has also tended to be more rapid for honours graduates.

The Bachelor of Commerce (Honours) 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 and economics world, to prepare them for subsequent graduate studies and to allow them to achieve the highest level of success in their professional careers.
The Bachelor of Commerce (Honours) year is an additional (fourth) year of specialised study in one or two of the following disciplines: accounting, finance, actuarial studies, economics, management, and related areas. It is an integrated program with small classes and an emphasis on research and specialised subject areas.
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, commerce, 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, economics, government and commercial professions

3. Learning goal
Graduates of this degree will be adept at using 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 an 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

6. Learning goal
Graduates of this degree will have a deep knowledge of an area of specialisation drawn from one or, at most, two of the disciplines of accounting, finance, actuarial studies, economics, management

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

• Design and conduct a research study in their area of specialisation
• Describe, and use appropriately, a range of alternative methods of analysis
• Critically analyse the research of others in the field of their specialisation.
• Articulate a critical perspective on the development of the discipline in which they specialise and its contribution to the practice of that discipline.
• Apply their specialist knowledge in complex decision making environments in their professional area of specialisation

Accounting and business information systems

Students are required to complete the equivalent of eight subjects (100 points) in fourth year honours. Students must take the following subjects:

• 306-466 Honours Research Methods;
• 306-467 Honours Research Essay.

plus two or more of the following four subjects:

• 306-461 Studies in Corporate Reporting;
• 306-462 Studies in Management Accounting;
• 306-464 Studies in Business Information Systems;
• 306-465 Studies in Audit and Assurance Services.

The remaining subjects must be approved by the Head of Department of Accounting and Business Information Systems to meet the overall load of 100 points.

Actuarial studies

Students are required to successfully complete the equivalent of eight subjects (100 points) in fourth year honours. Students must complete the following subjects:

• One of 300-400 Actuarial Studies Research Essay and 300-409 Actuarial Studies Projects; and
• 37.5 points of level-4 actuarial studies subjects; and
• 12.5 points of level-4 subjects taught by the Faculty of Economics and Commerce; and
• 25 points of approved level-3 or level-4 subjects taught within or outside the Faculty of Economics and Commerce.

Economics

Students are required to successfully complete the equivalent of eight subjects (100 points) in fourth year honours. Students must complete the following subjects:

• 316-402 Advanced Microeconomics; and
• 316-475 Economics Research Essay; and
• 316-403 Advanced Macroeconomics.
• by the end of the honours year students must have completed at least one level-3 or level-4 econometrics subject in addition to

316-316 Basic Econometrics or 316-317 Econometrics (namely one of 316-318 Applied Microeconometric Modelling, 316-350 Time Series Analysis and Forecasting, 316-401 Microeconometrics, 316-449 Financial Econometrics or 316-470 Econometric Techniques); and

• three other subjects (if the econometrics requirement has been satisfied in third year then four other subjects), normally level-4 economics subjects.

Students may choose up to two level-3 economics subjects (to include an econometrics subject) and one subject from another department within the University with the honours convenor's approval.
Students who take 316-469 Financial Economics cannot include 316-351 Economics of Financial Markets in their final honours year program.

Finance

Students are required to successfully complete the equivalent of eight subjects (100 points). Students must complete the following:

• 333-401 Advanced Corporate Finance; and
• 333-402 Advanced Investments; and
• 333-404 Research Methods in Finance; and
• 333-410 Finance Research Essay; and
• 12.5 points of other subjects taught by the Department of Finance; and
• 25 points of subjects taught within or outside the Faculty of Economics and Commerce as approved by the Head of the Department of Finance.

Level-3 subjects may not be taken with the exception of 316-350 Time Series Analysis and Forecasting.

Management and marketing

Students are required to successfully complete the equivalent of eight subjects (100 points) in the honours year. Students are required to complete the following:

• 325-408 Management Research Essay; and
• 325-407 Advanced Management Theory; and
• 325-410 Advanced Management Research

The remaining four subjects (totalling 50 points) may be selected from the list of level-4 subjects taught by the Department of Management and Marketing.
Students may also include up to two subjects taught by the Faculty of Economics and Commerce or other Faculty as approved by the Head of Department. No more than two level-3 subjects can be included in the program of study.
If students wish to specialise they will be advised regarding a customised program of study in their particular area of interest.

Combined honours program

All students will undertake a research essay in one of accounting and business information systems, economics, finance or management and marketing plus the following subjects from the relevant discipline for the combined honours program. Up to one level-3 subject may be included in a combined honours program as approved by the relevant honours convenor.

Accounting and Business Information Systems
Students undertaking 306-467 Honours Research Essay must also enrol in 306-466 Honours Research Methods and one of the following subjects:

• 306-461 Studies in Corporate Reporting
• 306-462 Studies in Management Accounting
• 306-464 Studies in Business Information Systems
• 306-465 Studies in Audit and Assurance Services

or

students undertaking the research essay in another discipline must take three accounting subjects as approved by the Head of the Department of Accounting and Business Information Systems.

Economics
Students undertaking 316-475 Economics Research Essay must also enrol in three other level-4 Economics subjects as approved by the Head of the Department of Economics (316-4XX);

or

Students undertaking the research essay in another discipline must enrol in three economics subjects as approved by the Head of the Department of Economics.

Finance
Students undertaking 333-410 Finance Research Essay must also enrol in 333-404 Research Methods in Finance and two level-4/6 Finance subjects as approved by the Head of the Department of Finance

or

Students undertaking the research essay in another discipline must also enrol in the following:

• 333-401 Advanced Corporate Finance
• 333-402 Advanced Investments
• 333-618 Advanced Derivative Securities

Management and Marketing
325-407 Advanced Management Theory and 325-410 Advanced Management Research and one other level-4 management and marketing subject (325-4XX).

Eligibility

The Bachelor of Commerce (Honours) is offered for full time, Semester 1 entry only. Intending applicants should note that students must commence the honours year within two years of completing the requirements of the ordinary degree.

Students who have reached the required standard must make a formal application to the General Manager for admission to fourth-year honours. Intending honours students should lodge a formal online application available at the Honours website http://www.ecom.unimelb.edu.au/students/honours, no later than Friday 20th November 2009 for 2010 entry.

Accounting

To be eligible for admission to honours in accounting and business information systems, students must have satisfied the requirements of the pass degree and completed a major in Accounting (or equivalent**) with a grade of at least H2B (70%) in each of the level-3 subjects required for the major and successfully completed 316-316 Basic Econometrics or 316-317 Econometrics.

Selection into honours is at the discretion of the Head of the Department of Accounting and Business Information Systems.

Actuarial studies

To be eligible for admission to honours in actuarial studies students must have satisfied the requirements for the pass degree and completed a major in Actuarial Studies with a grade of H2B (70%) or better in any four level-3 actuarial subjects.

Note: A subject worth 25 points is treated as the equivalent of two 12.5 point subjects in the assessment of applications for honours.

Selection into honours is at the discretion of the Director of the Centre for Actuarial Studies.

Economics

To be eligible for admission to honours in economics students must have satisfied the requirements of the pass degree and completed a major in Economics (or equivalent**) and another level-3 economics subject or other approved subject. Normally students should have achieved an average grade of H2B (70%) in at least four economics subjects at level-3 and should have achieved a grade of H2B (70%) or better in three of the four subjects.
Students are strongly advised to give early consideration to a topic for their fourth year research essay. They will need to obtain approval for it from an advisor during semester one of their fourth year.

Selection into honours is at the discretion of the Head of the Department of Economics.

Finance

To be eligible for admission to honours in finance students must have completed the requirements of the pass degree and completed a major in Finance (or equivalent**) with a grade of at least H2B (70%) in each of the level-3 subjects required for the major and successfully completed 316-316 Basic Econometrics or 316-317 Econometrics.

Selection into honours is at the discretion of the Head of the Department of Finance. Students should note that a quota will be applied to the number of places available for honours in finance.

Management and marketing

To be eligible for honours in management and marketing students must have completed the requirements of the pass degree and completed a major in Management or Marketing (or equivalent**) with a grade of at least H2B (70%) in each of the level-3 subjects required for the major.

Selection into honours is at the discretion of the Head of the Department of Management and Marketing. Students should note that a quota may be applied to the number of places available for honours in management and marketing.
The current English language requirements for undergraduate programs offered by the Faculty of Economics and Commerce will apply.

Joint honours program

Joint honours programs are available in any pair of the disciplines (1) Accounting* (2) Economics, (3) Finance* and (4) Management and Marketing. Entry requirements are:

• Permission from both Heads of Departments.
• Completion of a major (or equivalent) in both disciplines.
• A grade of at least H2B (70%) in each of the level-3 subjects for each major.

Double degree students and eligibility
To be eligible for entry to the Bachelor of Commerce (Honours) students undertaking a BA/BCom, BA(M&C)/BCom, BAgSc/BCom, BAg/BCom, BE/BCom, BForSc/BCom, BFor/BCom, BCom/BIS, BCom/BSc or BPC/BCom must have either completed the requirements for the double degree (ie. completed 500 points and satisfied the minimum requirements of the BCom and the other component of the double degree) or completed at least 300 points within which the normal BCom requirements are met. That is:

• at least 200 points of commerce subjects have been completed; and
• between 87.5 and 125 level-1 points have been completed, of which at least 50 points are commerce; and
• at least 75 level-3 points have been completed, of which at least 50 points are commerce.

Commerce/law students intending to undertake commerce (honours) must complete 75 level-3 commerce points if they wish to gain entry to honours in their fourth year of study. Commerce/law students who intend to undertake commerce (honours) before they complete 500 points in the combined degree should consult a course adviser for further information.

Double degree students must meet eligibility requirements for entry into the different streams (Accounting, Finance, Economics, Management and Marketing or joint honours) as listed above.

* successful completion of 316-316 Basic Econometrics or 316-317 Econometrics also required.

** this will cater for current students who have completed the subjects required for a major however haven't had this noted on their transcript.

Students with a temporary or permanent disability or medical condition requiring additional assistance should contact the Faculty's Disability Contact Officer (FDCO). The FDCO can ensure that students with special needs have access to a number of University services provided by the Disability Liaison Unit (DLU), including alternative examination arrangements (such as additional writing time or a venue which is wheelchair accessible), notetakers or sign language interpreters, specialised equipment (such as computer screen reading software) and overall support in liaising with academic and other general staff. Students who think that they may require alternative exam arrangements should discuss this matter with the Faculty's Disability Contact Officer early in the academic year (or, in the case of acute conditions, as soon as possible). Some form of documentation will normally be required. It is possible for students with permanent disabilities with non-changing effects to have appropriate examination arrangements on an on-going basis if they register with the DLU. Note that English as a second language is not grounds for alternative exam arrangements.

For more information on the wide range of services that the DLU provide, go to their website http://www.services.unimelb.edu.au/disability or visit them on campus to make a time to discuss your needs.