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 aims to provide students with the knowledge, tools of analysis and skills with which to understand and participate in the modern business and economics world, to prepare them for subsequent graduate studies and to achieve success in their professional careers.

1. Learning goal:
Graduates of this degree will be knowledgeable across the core requirements of the degree.
Learning objectives to achieve this goal:
Graduates will be able to:
• Demonstrate knowledge of major theories and models in key areas of organisational behaviour.
• Analyse organisational problems and generate realistic solutions based on current academic research in organisational behaviour
• Demonstrate a knowledge of macroeconomic theory as it relates to current macroeconomics policy and issues
• Demonstrate a knowledge of microeconomic theory as it relates to markets, firms, government policy, and resource allocation
• Demonstrate a knowledge of key concepts underlying quantitative decision analysis
• Apply basic mathematical and statistical skills necessary for analysis of a range of problems in economics, actuarial studies, accounting, marketing, management and finance

2. Learning goal:
Graduates of this degree will be knowledgeable of an area of specialisation in the Faculty.
Learning objectives to achieve this goal:
Graduates, subject to their areas of specialisation, will be able to:
• Demonstrate knowledge of the theories, concepts and findings of the Faculty specialisations

3. Learning goal:
Graduates of this degree will be knowledgeable of domestic and international economic and organisational environments.
Learning objectives to achieve this goal:
Graduates will be able to:
• Analyse commerce /business issues in the international contexts
• Compare international contexts and issues through the lens of the commerce disciplines
• Evaluate national and international debates and discussions on economic, commercial, and business issues

4. Learning goal
Graduates of this degree will be knowledgeable of disciplines outside the faculty.
Learning objectives to achieve this goal:
Graduates will be able to:
• Demonstrate an understanding of the concepts, principles, theories and arguments of their selected areas of study outside the core disciplines of economics and business.

General points requirements
The Bachelor of Commerce requires the successful completion of 300 points comprising:

200 points of commerce discipline subjects including:
• At least 50 points at Level 1, including compulsory subjects ECON10004 Introductory Microeconomics, ECON10003 Introductory Macroeconomics and ECON10005 Quantitative Methods 1.
• At least 62.5 points at Level 2, including compulsory subject MGMT20001 Organisational Behaviour and one of ECON20003 Quantitative Methods 2, ECOM20001 Introductory Econometrics, MGMT20005 Business Decision Analysis or MKTG20004 Market and Business Research to meet the quantitative requirement of the course.
• At least 50 commerce points at Level 3 to be completed at the University of Melbourne (not on exchange).

The remaining 100 points must include:
• At least 50 breadth points, with no more than 37.5 breadth points at Level 1
• At least 25 Level 3 points

A minimum of 87.5 points must be taken at Level 1. A maximum of 125 points may be taken at Level 1.
A minimum of 62.5 points must be taken at Level 2 (only applies for students commencing from 2011).
A minimum of 75 points must be taken at Level 3.

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

Option 1 – standard path:
• ECON10005 Quantitative Methods 1; and
• One level-2 quantitative subject from the list below:
ECON20003 Quantitative Methods 2
ECOM20001 Introductory Econometrics
MGMT20005 Business Decision Analysis
MKTG20004 Market and Business Research

Option 2 – mathematics path:
Two level-2 subjects are taken in second year:
• MAST20006 Probability for Statistics (for students not pursuing actuarial studies) OR MAST20004 Probability (for students pursuing actuarial studies)
• MAST20005 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):
• MAST10005 Calculus 1
• MAST10006 Calculus 2
• MAST10007 Linear Algebra

Prerequisites for students with a study score of 27 or above in units 3 and 4 VCE Specialist Mathematics (or equivalent):
• MAST10006 Calculus 2
• MAST10007 Linear Algebra

Prerequisites for students with a study score of 38 or above in units 3 and 4 VCE Specialist Mathematics (or equivalent):
• MAST10008 Accelerated Mathematics 1
• MAST10009 Accelerated Mathematics 2

It is recommended that students not pursuing actuarial studies meet the prerequisites for MAST20006 Probability for Statistics and MAST20004 Probability by enrolling in MAST10006 Calculus 2and MAST10007 Linear Algebra, even if they meet prerequisites for MAST10008 Accelerated Mathematics 1and MAST10009 Accelerated Mathematics 2. Students intending to pursue actuarial studies will take the mathematics path and enrol in MAST20004 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
Students must complete at least one major 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: ACCT30001 Financial Accounting Theory, ACCT30002 Enterprise Performance Management, ACCT30004 Auditing and Assurance Services.
• Actuarial studies: 37.5 level-3 points chosen from: ACTL30001 Actuarial Modelling I, ACTL30002 Actuarial Modelling II, ACTL30003 Contingencies (double subject), ACTL30004 Actuarial Statistics, ACTL30005 Models for Insurance and Finance, ACTL30006 Financial Mathematics III
• Business: 75 level-3 points from three or more areas of study within the BCom.
• Economics: ECON30009 Macroeconomics, ECON30010 Microeconomics, ECOM30001 Basic Econometrics or ECOM30002 Econometrics
• Finance: FNCE30001 Investments, FNCE30002 Corporate Finance, FNCE30007 Derivative Securities
• Management: 37.5 level-3 points chosen from: MGMT30018 Business Communication, MGMT30012 Business Consulting, MGMT30015 Career Management, IBUS30004 Chinese Business and Economy, IBUS30002 International Corporate Governance, MGMT30004 International Human Resource Management, MGMT30002 Managing in Contemporary Organisations, MGMT30006 Managing Entrepreneurship and Innovation, IBUS30003 Managing Conflict in Global Workplaces, MGMT30008 Organisations, Ethics and Society, MGMT30011 Supply Chain Management, MGMT30013 Strategic Management, MGMT30017 Global Consulting Project.
• Marketing: 37.5 level-3 points chosen from: MKTG30010 Advertising and Promotions, MKTG30009 Internet Marketing, MKTG30007 Marketing and Society, MKTG30008 Neuromarketing, MKTG30011 Product Management, MKTG30006 Retail Management, MKTG30003 Service and Relationship Marketing.

Breadth in the Bachelor of Commerce
Breadth studies are those subjects chosen from outside the Faculty of Business and Economics. Students may take all of their 50 - 100 breadth points in one or more breadth disciplines. You can select subjects of your choice, or follow a breadth track: a set of complementary breadth subjects in various disciplines.

Note: Certain breadth subjects in law or mathematics must be taken to gain accounting or actuarial accreditation. Students pursuing an approved engineering breadth sequence or accreditation in actuarial studies should see “Special arrangements” below.

To view breadth subjects for this course, please refer to the Breadth Options section below.

Breadth subjects NOT available for Bachelor of Commerce students: any subjects offered by the Departments of Accounting, 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).

There are approved sequences of breadth subjects available which can lead to further study, for example, engineering , psychology, information systems and informatics

Special arrangements
Students commencing in 2010 and beyond who are pursuing an approved engineering breadth sequence in the civil, electrical, mechanical or software streams will undertake 112.5 points of breadth and 187.5 commerce points.

Students pursuing accreditation in actuarial studies will take 75 – 87.5 points of breadth, including two breadth subjects that are neither mathematics nor statistics.

Progression
Students must normally complete 50 points of study at one year‐level before proceeding to the next year‐level.

Concurrent diplomas
Certain breadth subjects may be cross-credited toward a concurrent diploma. These diplomas offer specialised study in a range of areas. For further information, refer to the relevant website:
Diploma in Informatics
Diploma in Languages
Diploma in Mathematical Sciences
Diploma in Music (Practical)

Commencing students interested in pursuing a diploma should seek advice from both the Commerce Student Centre and the owning faculty of the diploma.

Available Breadth Tracks

1. In order to be considered for entry, applicants must have completed:

one of

(a) the Victorian Certificate of Education including
• VCE Units 3 and 4 – either a study score of at least 25 in one of English, English Language or Literature or a study score of at least 30 in English as an Additional Language, and

• VCE Units 3 and 4 – a study score of at least 25 in Mathematics Methods (CAS) or Specialist Mathematics;

(b) the International Baccalaureate Diploma including

• at least Grade 4 in English or English B (Standard Level or Higher Level) and

Mathematics;

(c) a senior secondary program, foundation studies program or equivalent approved by the Academic Board including appropriate English language and Mathematics studies.

Except for applicants eligible for Access Melbourne, minimum ATAR or equivalent overall performance rankings apply (link).

Meeting these requirements does not guarantee selection.

2. In ranking applications, the Selection Committee will consider:
• prior academic performance.

3. The Selection Committee may seek further information to clarify any aspect of an application in accordance with the Admission and Selection into Course Policy.

4. For applicants who have not completed the Victorian Certificate of Education or the International Baccalaureate Diploma, the undergraduate English language requirements must be met.

Note. For applications through the Victorian Tertiary Admission Centre, “middle-band” selection adjustments are made only on the basis of eligibility for Access Melbourne.

The Faculty of Business and Economics welcomes applications from students with disabilities. It is University and Faculty policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student’s participation in the Faculty’s programs.

The BCom and Masters degrees of the Faculty of Business and Economics equip graduates with the knowledge and technical skills necessary to understand and participate in the modern business world. The degrees include the following academic requirements for study:

(1) The ability to explain and evaluate concepts, theories, institutional arrangements and operations of modern mixed economies;
(2) The ability to critically evaluate the economy, commerce and business in the broader social and political context;
(3) The ability to explain and apply concepts across a range of commerce and business disciplines in solving business and policy problems;
(4) The ability to contribute positively to the development of organisations and society in relation to business, government and the commercial professions.

All students of the Faculty’s courses must possess intellectual, ethical, and emotional capabilities required to participate in the full curriculum and to achieve the levels of competence required by the Faculty. Candidates for the BCom degree and for FBE Masters degrees must have abilities and skills in communication; in conceptual, integrative, and quantitative dimensions; and in behavioural and social dimensions.

I. Communication: The student must be able to communicate effectively and efficiently in oral and/or written form. A student must have the ability to clearly and independently communicate knowledge and application of a discipline, principles or practices during assessment tasks, and in some discipline streams.
II. Intellectual‐Conceptual, Integrative and Quantitative Abilities: The student is expected to have the ability to develop problem‐solving skills and demonstrate the ability to establish study plans and priorities. These abilities include measurement, calculation, reasoning, analysis, and synthesis. Problem solving requires all of these intellectual abilities. Students should also have the ability to comprehend complex disciplinary and cross disciplinary information related to the BCom and Masters degrees.
III. Behavioural and Social Attributes: A student must possess behavioural and social attributes that enable them to participate in a complex learning environment and the emotional health equired for full utilisation of his/her intellectual abilities. Students are required to take responsibility for their own participation and learning. They also contribute to the learning of other students in collaborative learning environments, demonstrating interpersonal skills and an understanding of the needs of other students. Assessment may include the outcomes of tasks completed in collaboration with other students. Integrity, concern for others, interpersonal skills, interest, and motivation are all personal qualities that are deemed necessary for students enrolled in FBE courses.

Students who feel their disability will prevent them from participating in tasks involving the inherent academic requirements of the BCom and FBE Masters courses are encouraged to contact the Disability Liaison Unit. Adjustments can be provided to minimise the impact of a disability, but students should participate in the course in an independent manner.

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.

Please refer to the following website for up to date information regarding the accreditation status of this course: http://bcom.unimelb.edu.au/about/accreditation

Graduates of the degree will have the capacity to:
• work collaboratively and productively in groups.
• use basic mathematical and statistical tools of analysis.
• apply critical and analytical skills and methods to the identification, evaluation and resolution of complex problems
• engage confidently in self-directed study and research
• communicate ideas effectively in both written and oral formats
• operate effectively in multicultural and diverse environments.
• use effectively information from diverse sources
• be proficient in the use of appropriate information technologies
• critically evaluate new ideas, research findings, methodologies and theoretical frameworks in a specialised field of study
• recognise and understand the ethical responsibilities of individuals and organisations in society.