Faculty of Business and law ACCOUNTING, ECONOMICS AND FINANCE HONOURS PROGRAM GUIDE 2015

Transcription

1 Faculty of Business and law ACCOUNTING, ECONOMICS AND FINANCE HONOURS PROGRAM GUIDE 2015

2 FACULTY OF BUSINESS AND LAW SCHOOL OF ACCOUNTING, ECONOMICS AND FINANCE HONOURS PROGRAM GUIDE Course Title: Bachelor of Commerce (Honours) Course code: M400 Total credit points: 8 Campus: Burwood (Melbourne). On campus only. Award granted: Bachelor of Commerce (Honours) Duration: 1 year full time CRICOS Provider code: D

3 COURSE OVERVIEW AIM OF THE HONOURS PROGRAM The Bachelor of Commerce Honours Program offered by the School of Accounting, Economics and Finance, in the Faculty of Business and Law, is a high quality specialised program for outstanding students with a strong interest in further study. The program requires the completion of a fourth year of full-time study comprising eight credit points. The coursework component focuses on strengthening knowledge of the theory and application of accounting, economics and finance including the current research literature. The range of electives includes: financial accounting management accounting auditing microeconomics macroeconomics econometrics advanced investments financial derivatives advanced corporate finance. An introduction to research is provided in a compulsory unit in research methods. The Honours-level electives also provide the opportunity to examine research-in-action by critically studying examples of published research. The Honours Program is reviewed annually to ensure that consistently high standards are maintained and that current developments are included in all aspects of the Program. At the same time, the Program reflects the specific established research strengths of the School of Accounting, Economics and Finance. The Honours Program in Accounting, Economics, and Finance aims to offer high-performing and motivated students: the opportunity to explore the frontiers of academic research in accounting, economics, or finance and related disciplines the challenge of learning about, and conducting research in accounting, economics or finance the employment-enhancement benefits of a four-year degree program. GUIDE TO THE HONOURS PROGRAM

4 BENEFITS OF THE HONOURS PROGRAM There are numerous advantages to successfully completing an Honours degree. The Honours degree offers a major step in becoming a professional practitioner and/or researcher in the discipline. It is a key qualification for accelerating career advancement and provides enhanced employment opportunities. The research training and course of study are widely recognised by employers and are remunerated accordingly. Graduates with a four-year degree are sought after in industry, local, state and national public service, international agencies and consulting firms and the accounting and finance (banking) profession because of their superior research and analytical skills, and communication. Subject to performance, the Honours degree is an entry qualification for a PhD at universities within Australia and overseas. The Australian Honours degree is respected worldwide. The completion of an Honours year also carries many non-pecuniary benefits. Students are challenged to examine the foundations and development of major elements of the accounting, economics and finance disciplines from a scholarly perspective. In accounting, students are able to develop a deeper understanding of a number of contemporary issues in auditing, financial accounting and management accounting which require critical, analytical and problemsolving skills, strategic thinking, presentation, and communication skills. In economics, students are able to develop further understanding and evaluation of approaches to theory and methodology and the skills necessary to conduct economic research in academia, private industry, government and international institutions. In finance, students are equipped with the requisite essential skills of capital markets and corporate finance. Honours students also gain a broader understanding of university life and the role of academic research. Students are encouraged to participate in school activities such as research seminars and forums. The School offers a hands-on approach. Staff involved with the Honours Program work very closely with students to provide essential research training and to ensure that each student is able to take advantage of the opportunities and challenges for which the Program is designed. 2 GUIDE TO THE HONOURS PROGRAM 2015

5 OBJECTIVES AND STRUCTURE OF THE ACCOUNTING, ECONOMICS AND FINANCE HONOURS PROGRAM The Honours Program provides a post-degree level of study for students seeking to widen their knowledge of either accounting, economics or finance. An objective of the Program is to provide students with a systematic understanding of the key aspects of their field of study, including acquisition of coherent and detailed knowledge which is at the forefront of the discipline. Accordingly, the Program cultivates analytical and critical thinking skills, it develops an awareness of emerging developments in the student s discipline area as well as among business in general, and it provides graduates with the training necessary to conduct independent high-quality research in their discipline area. On completion of the Honours Program, students will have developed the following: Enhanced analytical and technical skills; Capacity to engage in critical, logical and independent thinking; Enhanced communication and interpersonal skills; Apply a wide-range of investigative skills to specific research problems; The ability to undertake independent research; A competitive advantage over a graduate with only a 3-year undergraduate degree. The overall structure of the Honours Program comprises a compulsory research component, compulsory coursework units and electives. To complete the Honours Program, a student is required to pass units totalling eight credit points. One credit point is equivalent to one unit studied over one trimester. The specific structure of the Accounting, Economics and Finance Honours Program is as follows: a specialisation in Accounting, Economics or Finance; a research methods unit; a three-credit-point thesis for Economics; four-credit-point thesis for Accounting and Finance (discipline specific requirement); four-credit points of coursework in Accounting and Finance; five-credit points of coursework in Economics. ACCOUNTING ECONOMICS FINANCE Four compulsory coursework units (4 credit points) to be undertaken in Trimester 1: MAA427 Research Methods MAA428 Contemporary Issues in Accounting MAA451 Advanced Auditing MAA456 Advanced Management Accounting Four compulsory coursework units (4 credit points) to be undertaken in Trimester 1: MAA427 Research Methods MAE406 Business and Financial Econometrics or MAE901 Advanced Econometrics* MAE411 Advanced Economic Theory MAE413 Macroeconomic Theory and Policy Two compulsory coursework units (2 credit points) to be undertaken in Trimester 1: MAA427 Research Methods MAE406 Business and Financial Econometrics Plus two out of three elective coursework units (2 credit points) from the units offered in Trimester 1 MAF421 Advanced Investments MAF430 Advanced Derivative Securities MAF453 Advanced Corporate Finance Plus compulsory research thesis (equivalent to 4 credit points) to be undertaken in Trimester 2: MAR411 Research Report 1 MAR412 Research Report 2 MAR413 Research Report 3 MAR414 Research Report 4 Plus one compulsory coursework unit (1 credit point) and compulsory research thesis (equivalent to 3 credit points) to be undertaken in Trimester 2: MAE403 Advanced Issues in Economics MAR411 Research Report 1 MAR412 Research Report 2 MAR413 Research Report 3 Plus compulsory research thesis (equivalent to 4 credit points) to be undertaken in Trimester 2: MAR411 Research Report 1 MAR412 Research Report 2 MAR413 Research Report 3 MAR414 Research Report 4 *The Honours Co-ordinator will recommend one of the two units to the student at the time of the interview. If MAE901 is recommended, the student will need to contact and gain approval from the unit chair prior to enrolling in the unit. Note: In an effort to keep Deakin University s Accounting, Economics and Finance Honours Program dynamic and responsive to market demands and current developments across the disciplines, the course requirements are subject to change. GUIDE TO THE HONOURS PROGRAM

6 CLASS ATTENDANCE It is a requirement that students attend all classes during the Program year. An essential part of student learning in the Program relates to class participation and discussion. As the Program seeks to develop students capacity to engage in higher order thinking which leads to both knowledge acquisition and production, it is essential that students are engaged in their classes. In addition, failure to regularly attend classes can significantly affect the final unit grade. TIME COMMITMENT Students enrolled full-time in the Bachelor of Commerce (Honours) program are expected to spend 48 hours per week studying (including class time). RESEARCH SEMINARS AND WORKSHOPS The School of Accounting, Economics and Finance conducts regular research seminar presentations by members of staff, postgraduate students and visiting scholars. The School has many regular seminars in each discipline featuring local and international scholars, as well as workshops where current research in the School is presented. Each trimester, Honours students are provided with the program for the research seminars and are advised of workshops and research forums as they arise. Honours students are encouraged to attend these seminars, workshops and forums as part of their research training. RESEARCH REPORT REQUIREMENTS The purpose of the research report is to demonstrate that basic research skills have been acquired. Through the research report, students should demonstrate their ability to analyse, investigate, and report on a particular issue or problem in an area of accounting, economics or finance. The research report may be a work of theory or empirical analysis, or a combination of both. Students are expected to demonstrate an understanding of the issues, a command and awareness of the available literature and to display proficiency in the use of research skills appropriate to the study of the particular issue or problem. On completion of the research report, students should have fulfilled the following objectives: Conducted a critical review of the literature relevant to their field of study; Derived appropriate research questions or problems to be answered in the study, and/or related hypotheses for testing; Devised an appropriate research strategy to provide answers to the research question or problem; Followed a specific research design and managed any practical problems that might arise in the course of data collection; Devised appropriate empirical test(s) of the hypotheses which demonstrate an understanding of the principles of scientific method and show regard to practical problems of conducting research and ethical considerations; Selected and conducted an appropriate analysis of the data; and Produced a written report on the Research Project, following relevant stylistic conventions in their field of study. 4 GUIDE TO THE HONOURS PROGRAM 2015

7 RESEARCH REPORT STRUCTURE - AN EXAMPLE A Research Report is a written document (report) involving an extended piece of research and must be presented in word-processed form. An example of the structure of a Research Report (paper) may be as follows: CHAPTER 1 CHAPTER 2 CHAPTER 3 CHAPTER 4 CHAPTER 5 Introduction Statement of the problem/research questions Significance of the topic Structure of the thesis Literature review Development of a conceptual (theoretical) framework for the study Statement of the hypotheses (if any) Methodology Research method and data sources (if empirical) Model details, with assumptions Analysis Report of findings Solutions to the model Analysis and discussion of results Conclusion Summary of findings Limitations of the study Possible extensions REFERENCES The following support is offered: Assistance by staff specialising in the field of interest to define and refine a topic at the commencement of the Honours Program Selection of a supervisor to be assisted by the Honours Program Co-ordinator for the appropriate discipline Staff supervision, which should involve regular consultation Presentation by students of their research to fellow students and staff twice during the year. GUIDE TO THE HONOURS PROGRAM

8 APPOINTMENT OF SUPERVISORS Students may have an idea for a topic when they enter the Honours year, and lecturers also help with possible topics. Based upon the student s stated interest, the Honours Program Co-ordinator for the appropriate discipline will recommend staff for the student to contact and assist in locating a supervisor. THE ROLE OF THE SUPERVISOR When accepting a student to candidature and nominating a supervisor, the School of Accounting, Economics and Finance is undertaking a commitment to the student to provide supervision. The purpose is to ensure that all students have access to high quality supervision. Students should get in touch with their supervisor when feedback is sought. Students should feel free to contact their supervisor at any stage, by phone, or in person. The preparation of a Research Report is a challenging one and there will be numerous times when the supervisor s advice is called for. The supervisor will normally suggest a set of initial readings, from which a research question will emerge and is there as a guide and support for the student s work and the Research Report. The objective of the Honours Program is to provide students with the opportunity to gain the skills, aptitude, and interest to conduct research. The Research Report provides the unique opportunity to learn how to conduct research by actively participating in research. CHOOSING A TOPIC Students often enter an Honours Program without a strong view of the topic they wish to study. Study of structured units in the course work component often stimulates ideas and provokes interest in a particular area. This interest usually leads to: Identification of a topic area: This may be related to a substantive academic area or discipline. It may cross the boundaries of disciplines. Before commencing the Research Report students will need to define the boundaries of their topic area carefully. The problem: Within the topic area students may identify a problem. This should be a focused area that allows depth and understanding of that topic. The research question(s): The definition of the broad research problem needs to be progressively refined into specific research questions for the study. A good research paper focuses on a well-developed question with limited scope and examines it thoroughly. 6 GUIDE TO THE HONOURS PROGRAM 2015

9 SUPERVISORS RESPONSIBILITIES AND EXPECTATIONS It is the responsibility of the supervisor to maintain a professional relationship at all times with the student. The supervisor provides the following: 1. Guidance to the student: The supervisor should guide the student regarding the nature of research and the standard expected, the choice of a research topic, the planning of the research program and presentation of a research proposal, relevant literature and sources, attendance at taught classes where appropriate, and required techniques (including arranging for instruction where necessary). He/she is particularly sensitive to the need to ensure productive use of the student s time. The student is encouraged to show initiative and selfmotivation so that he/she will be able to pursue independent research with confidence. Help is given to the student to interpret and understand examiners reports and guidance as to how to meet their requirements. 2. Establishment of timelines Detailed advice is given on the necessary completion dates of successive stages of work so that the requirements may be submitted within the scheduled time. A schedule of regular meetings is established and maintained with the student and in the light of discussion with the student. Regular written work, interim reports or research results are requested as appropriate, and such work returned, including the final draft of the thesis, with constructive criticism, within a reasonable timeframe. 3. Supervisor s Expectations According to Phillips and Pugh (1987), the supervisor expects that the student will: Be independent Produce legible written work Seek advice and comments on their work from others Meet with supervisors regularly Be honest when reporting on their progress Follow the supervisors advice, when it has been given on request Have the courtesy not to conduct a telephone conversation during a meeting Be excited about their work Be able to surprise the supervisor STUDENTS RESPONSIBILITIES AND EXPECTATIONS It is the responsibility of the student to maintain a professional relationship at all times with the supervisor and other university staff and in relation to: 1. Regulations and guidelines Be familiar with and adhere to the appropriate degree and School/Faculty guidelines and other written information pertaining to research work. 2. Use of resources and facilities Utilise the resources, facilities and opportunities available to facilitate progress in the research. 3. Class and Seminar Attendance To regularly attend and participate in all classes during the Honours Program year as well as attend School seminars, workshops and forums as part of their research training. 4. Student s Expectations According to Phillips and Pugh (1987), the student expects that supervisors will be: Able to read their work well in advance Available when needed Friendly, open and supportive Constructively critical Have a good knowledge of the research area Facilitate the ease of exchange of ideas Have the courtesy not to conduct a telephone conversation during a meeting Have sufficient interest in the student s research to be able to add some value to the research Have the student s interest at heart GUIDE TO THE HONOURS PROGRAM

10 RESEARCH REPORT WORD LIMIT AND STYLE GUIDE The Research Report should not exceed the word limit. This limit includes all tables, footnotes, bibliography and any appendices. The limit must be adhered to. Part of the Honours training is in the concise presentation of quality work. The limit is words. A style manual should be consulted and adhered to. Three recommended style manuals are: Cotesta, P. V., Crosling, G. M., 1998, Writing for Accounting Students, Butterworths, Sydney. Anderson, J. & M. Poole, 1994, Thesis and Assignment Writing, 2nd edition, John Wiley and Sons, Brisbane. Style Manual for Authors, Editors and Printers, 2002, 6th edition, John Wiley and Sons, Australia. Particular attention should be paid to the following points: Presentation of the Research Report is very important. Students should take pride in the excellence of their work by presenting it professionally. The Research Report is a formal document and should be treated as such. All pages should be numbered consecutively and have a consistent margin. The recommended font size is 12 for text, 9 or 10 for footnotes, and 11 for all tables. Ensure that page margins are wide enough to accommodate the binding process. While each copy of the Research Report should be bound, there is no set format, for example, a ring or spiral or flat binder may be used. However, the presentation should be professional. Bibliographic citations should conform to those found in the leading accounting, economics and finance journals. Any one of the styles is acceptable. However all referencing must be consistent. The source of not only quotations but also any ideas which have been utilised must be acknowledged. Plagiarism is a serious offence. The final word-processed Research Report should contain a table of contents, as well as a signed statement noting that all the reported work is the student s own. 8 GUIDE TO THE HONOURS PROGRAM 2015

11 THESIS CRITICAL SUBMISSION DATES The Research Report must be completed within one enrolment year. Excluding exceptional circumstances, extensions are NOT available. Late submissions, not authorized by the Honours Co-ordinator, will be penalized two percentage points for each day the work is late. Late penalty points will not be deducted below a mark of 50 per cent. Accordingly, all full-time students and members of staff are expected to adhere to the following dates as appropriate: Proposal, submission and presentation (for more details, see MAA427 Unit Guide) Thesis critical submission dates: Trimester Week 5 Memorandum of understanding Monday 13 April 2015 Week 10 Literature review Monday 18 May 2015 Exam period Proposal presentation to academic staff and peers Wednesday 3 June 2015 Exam period Research proposal Monday 15 June 2015 Trimester Week 8 Week 10 Exam period Exam period First draft of Research Report to supervisor(s) Final draft and submission of results to supervisor(s) Submission of bound Research Report Assessment of Research Report Friday 11 September 2015 Friday 2 October 2015 Friday 16 October 2015 Mid November 2015 ASSESSMENT STANDARDS AND CRITERIA Each Research Report is assessed by two appropriately qualified members of staff, neither of whom has acted as a supervisor for the student. The Research Report is assessed on its academic merit and on the basis of a display of knowledge, conceptual development, proficiency in the relevant area, methodology and coherent writing. Presentation, logical coherence and construction of the final report are very important. Simply submitting a long document, or a large amount of data, does not guarantee that the Research Report will be passed. Each examiner is required to prepare a written report on the Research Report, stating the mark awarded. A short statement is given stating the reasons for the mark. The student will receive a transcription of each reviewer s comments. GUIDE TO THE HONOURS PROGRAM

12 ORAL PRESENTATION Communication skills are highly valued in the marketplace and are important to develop. In addition to observing experienced lecturers and professors present their work in seminars, students will present their own work to fellow students and staff. Late in the first trimester, students are required to introduce their topic and lay out an agenda that indicates how they will proceed. In the last weeks of the second trimester, students will present their results to fellow students and staff and respond to questions. FACILITIES While on-campus office accommodation is limited, Honours students are provided a common room with computing and printing facilities. Students requiring access to specialised software should see their Discipline Co-ordinator before commencing their Research Report. The School will endeavour to provide the resources required. The University Library offers first-rate and indispensable assistance with searching literature databases, inter-campus and inter-library loans, and extended borrowing periods for Honours students during the preparation of the Research Report. ACCESS TO USEFUL DATABASES DATABASES COVERAGE ACCESS CSMAR Stock Market and Corporate Series 22 Chinese stock market databases for research by Finance Academics Online BLOOMBERG International live database LB4.225, contact Maria Lentini (x46887) to gain access to the room. SIRCA Extensive trade database covering all financial markets, equities, derivatives, forex, OTC etc from over 180 markets throughout the globe. Library FinAnalysis International live database Library Datastream Professional Package Extensive global financial databases covering all financial markets, equities, derivatives, forex, OTC etc from over 180 markets throughout the globe. Online, contact Maria Lentini (x46887) to gain access. GUIDE TO THE HONOURS PROGRAM

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14 ADMISSION REQUIREMENTS To be considered for admission into the Bachelor of Commerce Honours Program in Accounting, Economics, or Finance, students must have : completed a bachelor degree; obtained at least a mid credit average (WAM 65) calculated from all the units taken in their degree; and completed a major in the discipline applied for. Preference will be given to those students who have obtained a distinction or above in: ACCOUNTING Required: MAA202/MAA262 Management Accounting MAA203/MAA261 Financial Accounting MAA301/310 Accounting and Society Highly recommended: MAA302 Strategic Management Accounting MAA303 Auditing MAA350 Ethics and Financial Services ECONOMICS Required: MAF256/MAF356/MAE356 Analytical Methods in Economics and Finance Highly recommended: MAE301 Microeconomic Theory and Policy For intending Economics Honours students joining Honours in 2015 and thereafter: Students are strongly encouraged to undertake MAE301. It is also desirable for students to complete one additional economics unit beyond the minimum requirement of an economics major. FINANCE Required: MAF256/MAF356/MAE356 Analytical Methods in Economics and Finance MAF302 Corporate Finance At least one of the following units are compulsory: MAF307 Equities and Investment Analysis MAF384 Financial Modelling Highly recommended: MAE305 Business and Financial Forecasting MAF306 International Finance and Investment MAF308 Applied Investment Analysis Note: Final acceptance into the Deakin University Accounting, Economics and Finance Honours Program is determined by the Discipline and Honours Program Co-ordinators. APPLICATIONS The Deakin university applicant portal is located at: applicantportal.deakin.edu.au/connect/ webconnect HONOURS PROGRAM SCHOLARSHIPS Deakin provides scholarships to Honours students. In addition, some external organisations also provide scholarships. Please refer to the website for the scholarships available including eligibility requirements and application procedures. For each scholarship, pay particular attention to the due date for the application as this is usually well before the end of the calendar year. For further details about scholarships, visit deakin.edu.au/future-students/scholarships/index.php 12 GUIDE TO THE HONOURS PROGRAM 2015

15 CONTACT DETAILS Honours Program Co-ordinator: Professor George Tanewski ( Tel For admission matters: Ms Linda De Sousa ( linda.desousa@deakin.edu.au) Tel If you have applied online, please Linda De Sousa with details of your name, preferred discipline area and student ID if applicable. This will enable us to monitor your application. For discipline specific academic matters such as unit selection and thesis supervision, please contact the relevant discipline co-ordinator, as detailed below: ACCOUNTING ECONOMICS FINANCE Professor George Tanewski Tel george.tanewski@deakin.edu.au Room: lb5.331 Melbourne Burwood Campus Dr Samarth Vaidya Tel samarth.vaidya@deakin.edu.au Room: lb4.420 Melbourne Burwood Campus Dr Saikat Sovan Deb Tel saikat.deb@deakin.edu.au Room: lb5.505 Melbourne Burwood Campus GUIDE TO THE HONOURS PROGRAM

16 Contact details Honours Program Co-ordinator: Professor George Tanewski Tel For admission matters: Ms Linda De Sousa linda.desousa@deakin.edu.au Tel School of Accounting, Economics and Finance deakin.edu.au/buslaw/aef Produced by Deakin University, Burwood VIC, 3125, Australia Deakin University 2014 Deakin University CRICOS Provider Code 00113B