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, marketing and related areas. It is an integrated program with small classes and an emphasis on research and specialised subject areas.

The honours year is open to single commerce and double degree commerce students. Intending applicants should note that students must commence the honours year within two years of completing the requirements of the single commerce or double degree commerce course. Graduates of other institutions are also welcome to apply. Honours is normally taken on a full-time basis immediately after finishing the requirements for the three-year commerce degree or five-year commerce double degree. Provision exists for deferred entry in exceptional circumstances.

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

The BCom (Honours) course consists of the equivalent of eight subjects (100 points). Grades are awarded for each individual subject and an overall grade result is returned for the course. The honours degree is only awarded to students who pass all subjects of the course and who complete the year with an average grade of H3 (65 percent) or higher.

Students are required to complete the equivalent of eight subjects and to obtain a minimum of a pass in each of them. Students are not allowed to repeat an honours subject/component for which they have received a mark of less than 50 per cent.

In determining the final grade, individual subjects are weighted according to their points value. Students who do not meet these requirements will not be awarded the Honours degree. These students will still be able to take out the pass degree if previous commerce studies were undertaken at the University of Melbourne.

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 or 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 Business and Economics; and
• 25 points of approved level-3 or level-4 subjects taught within or outside the Faculty of Business and Economics.

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 Business and Economics 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

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

• 325-408 Management Research Essay
• 325-407 Advanced Management Theory
• 325-410 Advanced Research Methods

Of the remaining four subjects (totalling 50 points) at least three must be selected from the list of level-4 Management subjects. Students may then take one subject from the list of level-4 management subjects or a level-3 subject taught by the Faculty of Business and Economics or other Faculty as approved by the Head of Department.

Marketing

• 325-493 Marketing Research Essay
• 325-407 Advanced Management Theory
• 325-410 Advanced Research Methods

Of the remaining four subjects (totalling 50 points) at least three must be selected from the list of level-4 Marketing subjects. Students may then take one subject from the list of level-4 marketing subjects or a level-3 subject taught by the Faculty of Business and Economics or other Faculty as approved by the Head of Department.

Students who are interested in seeking generalist studies in management or marketing are required to successfully complete the equivalent of eight subjects (100 points) in the honours year as follows:

• 325-408 Management Research Essay or 325-493 Marketing Research Essay

• 325-407 Advanced Management Theory

• 325-410 Advanced Research Methods

Combined honours for Accounting and Business Information Systems, Economics or Finance

All students will undertake a research essay in one of accounting and business information systems, economics or finance 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

Eligibility

The Bachelor of Commerce (Honours) is open to single commerce and double degree commerce students. The honours year 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 single commerce or double degree commerce course.

Students who have reached the required standard should lodge a formal online application. More information about how to apply can be viewed at the Honours website: http://www.bcom.unimelb.edu.au/pathways/honours/. After completing the online application, students submit a printed application with supporting documents to the Commerce Student Centre. Applications close on Friday 19th November 2010 for 2011 entry. Graduates of other institutions are also welcome to apply.

Accounting

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

To be eligible for honours in management students must have completed the requirements of the pass degree and completed a major in Management (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. The current English language requirements for undergraduate programs offered by the Faculty of Business and Economics will apply.

Marketing

To be eligible for honours in marketing students must have completed the requirements of the pass degree and completed a major in 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 marketing. The current English language requirements for undergraduate programs offered by the Faculty of Business and Economics will apply.

Joint honours program

Joint honours programs are available in any pair of the disciplines (1) Accounting*, (2) Economics and (3) Finance*. 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.