Bachelor of Commerce (Degree with Honours)

The honours year is an additional (fourth) year of specialised study in one of the following disciplines: accounting, finance, actuarial studies or economics 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.

Chancellor's Scholars who are admitted into the University of Melbourne's Bachelor of Commerce under a guaranteed entry pathway to a professional entry graduate course, such as the Juris Doctor, can undertake an Honours year and not jeopardise their guaranteed entry into their chosen graduate course.

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 two compulsory subjects:
ACCT40004 Honours Research Methods
and one of
ACCT40005 Honours Research Essay
ACCT40006 Honours Research Essay

Students must also take two elective subjects from the below list:
ACCT40001 Research in Financial Accounting;
ACCT40002 Research in Management Accounting;
ACCT40003 Research in Auditing (not offered 2016);
ACCT40007 Behavioural Accounting Research.
(If students would like to take more than 2 subjects from this list, the additional subjects can be taken under the remaining elective component discussed below).

The remaining elective 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
ECON40002 Advanced Macroeconomics; and
ECON40016 Economics Research Essay.

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.

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

• Within the last 2 years a Bachelor of Commerce or equivalent with a weighted average mark of at least H2B (70%), or equivalent, with a major relevant to the discipline stream within the Bachelor of Commerce (Degree with Honours) that they seek to enter.

Applicants are also required to meet any specific subject prerequisites and prior academic performance requirements associated with the discipline stream that they seek to enter.

Meeting these requirements does not guarantee selection.

2. In ranking applications, the Selection Committee will consider:

• prior academic performance, and

• the availability of supervision and resources in suitable project areas.

3. The Selection Committee may seek further information to clarify any aspect of an application in accordance with the Academic Board rules on the use of selection instruments.

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.

The schedule below shows available discipline streams and additional conditions applicants must meet to be eligible for (but not automatically guaranteed) selection into Honours within that stream.

Accounting: a grade of at least H2B (70%) in each of the third-year subjects within the major. (Students who have not completed in addition an appropriate 300-level subject in econometrics or equivalent quantitative studies such as advanced multivariate statistics will be required to take a 300-level econometrics subject in their first semester of honours study.)

Actuarial Studies: a grade of at least H2B (70%) in any four third-year actuarial subjects.

Economics: a grade of at least H2B (70%) in each of the third-year subjects within the major.
Please note: entry requirements from 2019 will require the completion of ECOM30002 Econometrics. ECOM30001 Basic Econometrics will no longer meet entry requirements for Honours (Economics) from the 2019 intake.

Finance: a grade of at least H2B (70%) in each of the third-year subjects within the major, and successful completion of either of the third-year subjects Basic Econometrics or Econometrics.

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. Applications close on Friday 18 November 2016 for 2017 entry. Graduates of other institutions are also welcome to apply.

Additional discipline specifc information:

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.

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

Actuarial studies

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

Economics

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

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.

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 Student Equity and Disability Support.

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