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, marketing 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

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

ACCT40004 Honours Research Methods;
ACCT40005 Honours Research Essay or ACCT40006 Honours Research Essay
plus two or more of the following three subjects:
ACCT40001 Studies in Corporate Reporting;
ACCT40002 Studies in Management Accounting;
ACCT40003 Studies in Audit and Assurance Services.
The remaining subjects must be approved by the Head of Department of Accounting to meet the overall load of 100 points.

Students who have not previously completed either of ECOM30001 Basic Econometrics or ECOM30002 Econometrics or equivalent quantitative studies such as advanced studies in multivariate statistics or similar will be required to enrol in either ECOM30001 Basic Econometrics or ECOM30002 Econometrics in their first semester of Honours study.

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 ACTL40001 Actuarial Studies Research Essay or ACTL40005 Actuarial Studies Projects; and
50 points of level-4 actuarial studies subjects; 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:

ECON40001 Advanced Microeconomics; and
ECON40016 Economics Research Essay; and
ECON40002 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
ECOM30001 Basic Econometrics or ECOM30002 Econometrics (namely one of ECOM30003 Applied Microeconometric Modelling, ECOM30004 Time Series Analysis and Forecasting, ECOM40001 Microeconometrics, ECOM40004 Financial Econometrics or ECOM40006 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 ECON40015 Financial Economics cannot include ECON30024 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:

FNCE40001 Advanced Corporate Finance; and
FNCE40002 Advanced Investments; and
FNCE40004 Research Methods in Finance; and
FNCE40006 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 ECOM30004 Time Series Analysis and Forecasting.

Management

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

MGMT40004 Management Research Essay;
MGMT40003 Advanced Management Theory;
MGMT40006 Advanced Research Methods

Of the remaining four subjects (totalling 50 points) at least three must be selected from the Department's list of level-4 subjects. The fourth subject may be a level-3 or level-4 subject taught within 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:

MGMT40008 Marketing Research Essay;
MGMT40003 Advanced Management Theory;
MGMT40006 Advanced Research Methods.

Of the remaining four subjects (totalling 50 points) at least three must be selected from the Department's list of level-4 subjects. The fourth subject may be a level-3 or level-4 subject taught within the Faculty of Business and Economics or other Faculty as approved by the Head of Department.

Combined honours for Accounting and Finance

All students will undertake a research essay in accounting or finance plus the following subjects from the relevant discipline for the combined honours program.

Students taking the research essay in accounting

Students undertaking ACCT40005 Honours Research Essay or ACCT40006 Honours Research Essay Accounting must also enrol in ACCT40004 Honours Research Methods and one of the following subjects:

ACCT40001 Studies in Corporate Reporting;
ACCT40002 Studies in Management Accounting;
ACCT40003 Studies in Audit and Assurance Services

Students undertaking the research essay in accounting must also enrol in the following:

FNCE40001 Advanced Corporate Finance;
FNCE40002 Advanced Investments;
FNCE90005 Advanced Derivative Securities.

Students taking the research essay in finance

Students undertaking FNCE40006 Finance Research Essay must also enrol in FNCE40004 Research Methods in Finance; and
• Two level-4/6 finance subjects as approved by the Head of the Department of Finance; and
• Three accounting subjects as approved by the Head of Department of Accounting.

Up to one level-3 subject may be included as approved by the relevant honours convenor and Head of Department.

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. Graduates of other institutions should provide an original or certified copy of their transcript/s and syllabi of subjects needed to meet eligibility requirements to the Commerce Student Centre. More information about how to apply can be viewed at the Honours website: http://www.bcom.unimelb.edu.au/about/honours/. Applications close on Friday 22 November 2013 for 2014 entry and will close on Friday 21 November 2014 for 2015 entry. Graduates of other institutions are also welcome to apply.

Accounting

The Bachelor of Commerce (Honours) is usually offered for full time, Semester 1 entry only. Part time honours may be offered to suitable candidates who meet the criteria for appointment to Senior Tutor within the Department of Accounting. These are subject to the approval of the Head of Department.

To be eligible for admission to honours in accounting, 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.

Recommended background knowledge: ECOM30001 Basic Econometrics or ECOM30002 Econometrics or equivalent quantitative studies such as advanced studies in multivariate statistics or similar. Students who have not previously completed one of these subjects will be required to enrol in either ECOM30001 Basic Econometrics or ECOM30002 Econometrics in their first semester of Honours study.

Selection into honours is at the discretion of the Head of the Department of 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) with an average grade of at least H2B (70%) across the third year subjects that constitute the major.

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. Students should note that a quota will be applied to the number of places available for honours in 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 ECOM30001 Basic Econometrics or ECOM30002 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 to apply 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 the best three level-3 Management or Marketing subjects.

Students should note that Honours places are limited and selection into the program is at the discretion of the Head of the Department of Management and Marketing. The current English language requirements for undergraduate programs offered by the Faculty of Business and Economics will apply.

Marketing

To be eligible to apply 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 the best three level-3 Management or Marketing subjects.

Students should note that Honours places are limited and selection into the program is at the discretion of the Head of the Department of Management and Marketing. The current English language requirements for undergraduate programs offered by the Faculty of Business and Economics will apply.

Joint honours program in Accounting and 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;
• Permission from both Heads of Departments; and
• Any additional prerequisite subjects or other requirements as specified above for each program.

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