Bachelor of Commerce (Degree with Honours)

This course is being phased out. There will be no new enrolments into this course. The information below is for those students who are already enrolled in this course. Future student please refer to new course code: BH-COM.

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

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

• 325-493 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

The remaining four subjects (totalling 50 points) may be selected from the list of available level-4 Management and Marketing subjects. Students may also include up to two subjects taught by the Faculty of Business and Economics 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.

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.

The Selection Committee(s) will evaluate the applicant’s ability to successfully pursue the course using the following criteria –

• A completed Bachelor of Commerce or double degree (from the University of Melbourne) or cognate degree from another institution within the last two years; and
• completion of a major (or equivalent) in the particular discipline/s with the appropriate standard across the major/s; and
• any additional prerequisite subjects or other requirements as specified below for each program.

Quotas may be imposed for some programs.

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.

Accounting

A grade of at least H2B (70%) in each of the level-3 subjects required for the major and successful completion of 316-316 Basic Econometrics or 316-317 Econometrics or equivalent quantitative studies such as advanced studies in multivariate statistics or similar;

Subject to the approval of the Head of Department, part time honours may be offered to suitable candidates who meet the criteria for appointment to Senior Tutor within the Department of Accounting and Business Information Systems.

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

Actuarial studies

A grade of H2B (70%) or better in any four level-3 actuarial subject.

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

An average grade of at least H2B (70%) across the third year subjects that constitute the major.

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

Finance

A grade of at least H2B (70%) in each of the level-3 subjects required for the major, and successful completion of either of the level-3 subjects 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

A grade of at least H2B (70%) in the best three level-3 Management or Marketing subjects.

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

A grade of at least H2B (70%) in the best three level-3 Management or Marketing subjects.

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 program in any pair of the disciplines (1) Accounting and Business Information Systems, (2) Economics and (3) Finance

• 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;
• any additional prerequisite subjects or other requirements as specified above for each program

Double degrees that include a Bachelor of Commerce component from the University of Melbourne

• satisfactory completion of the requirements for the double degree (i.e. completed 500 points and satisfied the minimum requirements of the Bachelor of Commerce and the other component of the double degree); or
• satisfactory completion of at least 300 points within which the normal Bachelor of Commerce requirements have been met.

* 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.

For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Course Description, Course Objectives and Generic Skills for this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

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

Academically excellent
• Analysis and evaluation of evidence in the business and economics disciplines and in an area of specialisation in support of an argument, proposition or solution to problems in organisations and in society
• Strategic and critical thinking in relation to business and economics related issues
• High level research skills including the retrieval of information from variety of business 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 business and economics through practical assignments, exercises and demonstrations

Attuned to cultural diversity
• Aware of cultural differences and able to account for these in developing solutions to business and economics related problems

Active global citizens
• Effective communicators on matters related to business and economics
• Participants in discussion and debate on national and international issues related to the disciplines of the faculty

Leaders in business and communities
• Effective decision makers in business and economics
• 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
• Independent in learning
• Able to contribute positively to teamwork
• Time management through managing and organising workloads for recommended reading, assignment completion and examination revision