Bachelor of Commerce Detailed Course Requirements The 2016 Monash University Handbook will be available from October 2015. This document contains interim 2016 course requirements information. Course outcomes Course requirements Progression to honours Majors and Minors Accounting Actuarial studies Behavioural commerce Econometrics Economics Finance Management studies Marketing science Sustainability Bachelor of Commerce Detailed Course Requirements January 2015 v1.0 Page 1 of 12
This course is designed to provide graduates in commerce with the analytical, conceptual and quantitative skills for a wide range of careers in decision making, leadership and management, policy development, and problem solving in the corporate sector, the public sector and the professions. Graduates of this course are highly valued for their training in quantitative skills and techniques which are well suited for employment in both Australia and overseas. The course begins with an introduction to core commerce discipline principles, and then offers the choice and flexibility to study up to two majors in different commerce disciplines, and the opportunity to study overseas or undertake and internship. Course outcomes These course outcomes are aligned with the Australian Qualifications Framework level 7, the Bologna Cycle 1 and Monash Graduate Attributes. Upon successful completion of this course it is expected that you will: be a critical and creative scholar who: produces innovative solutions to problems applies research skills to business challenges communicates effectively and perceptively be a responsible and effective global citizen who: engages in an internationalised world exhibits cross cultural competence demonstrates ethical values demonstrate broad knowledge and technical skills in at least one area of commerce and be able to provide discipline based solutions relevant to the business, professional and public policy communities that you serve be able to construct conceptual frameworks and use these to analyse complex issues in the corporate sector, government and the professions. Course requirements Students must complete units as specified in Parts A, B and C (144 points): a minimum of 96 points of commerce study over Part A and Part B, and 48 points of free electives in Part C. In choosing your units you must ensure that you complete no more than 10 level one units (60 points), and that you complete at least six units (36 points) at level 3 of which at least four (24 points) being Commerce units. In addition to specific unit prerequisites, you should successfully complete three level 1 units before taking level 2 units, and successfully complete two level 2 units before taking level 3 units. The course progression maps will assist you to plan how to meet the course requirements. Units are six points unless otherwise specified. A. Commerce specified study (48 points) ACX1000 Accounting for managers or ACX1100 Introduction to financial accounting BTC1110 Commercial law ECC1000 Principles of microeconomics ETC1000 Business and economic statistics MGC1010 Introduction to management MKC1200 Principles of marketing Bachelor of Commerce Detailed Course Requirements January 2015 v1.0 Page 2 of 12
BEX3500 Current issues in commerce One elective commerce unit offered on the Clayton campus B. Commerce listed major (48 points) Complete at least one commerce listed major from your campus of enrolment. A major requires eight units with no more than 2 units at level 1 (12 points) and at least 3 units (18 points) at level 3. Depending on the major you choose, you may have already studied one of the units as part of your commerce specified study. If so, you must complete an additional commerce unit offered on your campus of enrolment to bring the combined commerce study to at least 96 points. C. Electives (48 points) Your elective units may be chosen from units available in the Bachelor of Commerce course including to extend your major or to complete a second major or a minor(s). Note that, at most, two level one units may be counted towards two majors or a major and a minor. Elective units may also be taken from non-commerce disciplines to broaden your knowledge or to complete a major or minor(s) from another course as long as you have the prerequisites and there are no restrictions on enrolment in the units. For students in double degree courses, some units required for the other degree are credited as electives towards the Commerce degree. Progression to honours Students successfully completing the Bachelor of Commerce may proceed to a one year honours program leading to the Bachelor of Commerce (Honours). To be eligible to apply for entry into the Bachelor of Commerce (Honours), students must obtain a distinction grade average (70 percent) or above in relevant level 2 and level 3 units. In addition, some majors require at least four level 3 units in the major and/or particular level 3 elective units to be taken for admission to honours. The details are provided with the requirements for each major to which this applies. Majors and minors Click on the listed area of study for a brief description and the requirements. Bachelor of Commerce listed area of study and location Major Minor Accounting Clayton Clayton Actuarial studies Clayton Clayton Behavioural commerce Clayton Econometrics Clayton Clayton Economics Clayton Clayton Finance Clayton Clayton Management studies Clayton Clayton Marketing science Clayton Clayton Sustainability Clayton Clayton ACCOUNTING Bachelor of Commerce Detailed Course Requirements January 2015 v1.0 Page 3 of 12
Knowledge and understanding of accounting is an essential requirement for successful management. The wide range of units offered by the Department of Accounting caters for aspirants seeking success in the accounting profession and also others, majoring in related disciplines, seeking to be competent users of accounting reports. The major includes units that concentrate attention on the preparation and audit of financial reports for managers, owners and other interested parties. Validated and effective financial reports enable performance measurement and control of individuals, teams, corporations, non-government organisations, governments and other entities. Please refer to the Faculty Professional recognition page on the website for information about specific units that may be required for professional recognition. Accounting is offered in the Bachelor of Commerce at Clayton and in the Bachelor of Business at Caulfield as a major or minor. integrate, and critically apply, theoretical and technical accounting knowledge and skills to solve routine accounting problems. a) The following six units (36 points): ACX1100 Introduction to financial accounting ACX2100 Financial accounting ACX2200 Introduction to management accounting ACX2400 Accounting information systems ACX3100 Advanced financial accounting ACX3200 Management accounting b) Two of the following units (12 points), with at least 6 points at level 3: ACF3900 Global issues in accounting ACX2900 Accounting for sustainability ACX3150 Financial analysis and valuation ACX3250 Advanced management accounting ACX3500 International study program in accounting ACX3600 Auditing and assurance BEX3006 Industry based learning project BEX3106 Industry based learning project BFX2140 Corporate finance 1 BTC3150 Taxation law BTX2000 Corporations law BTX3699 Insolvency a) The following two units (12 points): Bachelor of Commerce Detailed Course Requirements January 2015 v1.0 Page 4 of 12
ACX1100 Introduction to financial accounting ACX2200 Introduction to management accounting b) Two units (12 points) from the following: ACX2100 Financial accounting ACX2400 Accounting information systems ACX2900 Accounting for sustainability ACX3100 Advanced financial accounting ACX3150 Financial analysis and valuation ACX3200 Management accounting ACX3250 Advanced management accounting ACX3600 Auditing and assurance ACTUARIAL STUDIES Actuarial studies applies mathematical and statistical methods to assess risk in insurance, finance and other industries. As a graduate of actuarial studies you will be able to seek employment in finance and business fields dealing with life, general or health insurance, superannuation, risk management and financial consulting. Many actuaries and actuarial graduates work on investment operations for asset managers, brokers and banks. There is a range of government-related jobs in regulatory control, workers' compensation, education and others. Some actuaries work with large companies on long-term strategic planning. Please refer to the Faculty Professional recognition page on the website for information about specific units that may be required for professional recognition. Actuarial studies is listed in the Bachelor of Commerce at Clayton as a major. identify, analyse and quantify risk and opportunity using mathematical, econometric and financial analyses in a wide range of business settings. a) The following four units (24 points): ETC1000 Business and economic statistics ETC2430 Applied stochastic modelling ETC3430 Financial mathematics under uncertainty ETC3530 Contingencies in insurance and pensions b) Four units (24 points) from the following with at least one unit (6 points) at level 3: BFC2000 Financial institutions and markets BFC2340 Debt markets and fixed income securities BFX2140 Corporate finance 1 Bachelor of Commerce Detailed Course Requirements January 2015 v1.0 Page 5 of 12
ETC1010 Data modelling and computing ETC2410 Introductory econometrics ETC2420 Statistical methods in insurance ETC2440 Mathematics for economics and business (or MTH1030 or ENG1091)* ETC2520 Probability and statistical inference for economics and business ETC3400 Principles of econometrics (or ETC3410 Applied econometrics)** ETC3420 Insurance mathematics ETC3460 Financial econometrics MTH3251 Financial mathematics *Students of Mathematics or Engineering wishing to pick up the major in Actuarial studies may take an equivalent mathematics unit to replace ETC2440. **One of either ETC3400 or ETC3410 is required to progress into Honours in Econometrics and business statistics, where students can complete the required additional units towards Part I and Part II actuarial exemption. Students who do not complete either ETC3400 or ETC3410 are not eligible for Honours in Econometrics and business statistics, but may articulate into the Master of Actuarial Studies degree. Any four units from either a) or b) above, with at least two units (12 points) at level 2 or 3, and with at least two units (12 points) with the prefix ETC offered from the Clayton campus. BEHAVIOURAL COMMERCE An understanding of how people and organisations behave is important for career success. This major brings together expertise from economics, management, marketing and psychology to provide an in-depth, multidisciplinary approach to a study of the concepts that will provide the knowledge and skills to enable graduates to seek employment in a wide range of fields. Behavioural commerce is listed in the Bachelor of Commerce at Clayton as a major. use psychology to help explain the behaviour of key stakeholders in the economy, including consumers, producers and managers in organisations such as firms, corporations and the public sector. a) The following six units (36 points): PSY1011 Psychology A PSY1022 Psychology B PSY2051 Research design and analysis PSY3041 Psychological testing, theories of ability and ethics MGC3130 Management of change MGX3991 Leadership principles and practices Bachelor of Commerce Detailed Course Requirements January 2015 v1.0 Page 6 of 12
b) Two units (12 points) from the following: ECC2600 Behavioural economics MGC2230 Organisational behaviour MKC2110 Buyer behaviour in marketing ECONOMETRICS In order to make the best possible decisions under uncertain conditions, business and government policy makers need to quantify the consequences of all possible options available to them. Econometricians use empirical evidence to predict the set of possible outcomes and determine the risks involved in each possible course of action, to help policy makers in this decision making process. They also use data to evaluate the effectiveness of existing social and economic policies. This major includes not only the techniques for analysing and interpreting data, but also their scientific foundations. You will acquire the ability to modify existing techniques to suit new situations, and develop new methods when needed. Consequently, you need to have an interest in and an aptitude for mathematics to undertake this major. Econometricians are highly valued members of decision-making teams in commercial and public sectors. Econometrics is listed in the Bachelor of Commerce at Clayton as a major or minor. Use their comprehensive understanding of econometric models and methodologies to inform economic decisions made in a variety of settings, and to implement such analyses in practice, and to construct new conceptual frameworks when required. a) The following three units (18 points): ETC1000 Business and economic statistics ETC2410 Introductory econometrics ETC3410 Applied econometrics b) Five units (30 points) from any of the following, with at least 12 points at level three: ETC1010 Data modelling and computing ETC2440 Mathematics for economics and business (or MTH1030 Techniques for modelling or ENG1091 Mathematics for engineering)* ETC2450 Applied forecasting for business and economics ETC2480 Business modelling methods ETC2500 Marketing research analysis (or ECC2000 Intermediate microeconomics or ECC2010 Intermediate macroeconomics) ETC2520 Probability and statistical inference for economics and business ETC3400 Principles of econometrics** ETC3450 Time series analysis for business and economics ETC3460 Financial econometrics ETC3250 Business analytics Bachelor of Commerce Detailed Course Requirements January 2015 v1.0 Page 7 of 12
ETX2250 Data visualisation and analytics MKC3500 Survey data analysis *Students of mathematics or engineering wishing to complete the major in Econometrics may take an equivalent mathematics unit to replace ETC2440 **Recommended for students planning to undertake honours in econometrics and business statistics Any four undergraduate units with the prefix ETC or ETX offered from the Clayton campus, with at least two units (12 points) at level 2 or 3. ECONOMICS Economics provides an advanced knowledge of the theories explaining and analysing the production, distribution, and consumption of goods and services and focuses on how individuals, households, firms and governments interact and how economies work. Microeconomics examines the behaviour of buyers and sellers in the economy, while macroeconomics analyses the entire economy and issues affecting it, including unemployment, inflation, economic growth, and monetary and fiscal policy. Economics is listed in the Bachelor of Commerce at Clayton as a major or minor. major will: have an in-depth knowledge of economic theories, analytical tools, and modelling techniques to a range of contexts. a) The following four units (24 points): ECC1000 Principles of microeconomics ECC1100 Principles of macroeconomics ECC2000 Intermediate microeconomics ECC2010 Intermediate macroeconomics b) Three units (18 points) from the following list: ECC3660 Monetary economics ECC3670 Economics of developing countries ECC3690 International economics ECC3710 Labour economics ECC3810 Public finance ECC3830 Industrial organisation and regulation ECC3840 Mathematical economics c) One unit (6 points) from (b) not previously completed or from the following list*: ECC2300 Current issues in macroeconomic policy ECC2360 Environmental economics Bachelor of Commerce Detailed Course Requirements January 2015 v1.0 Page 8 of 12
ECC2450 Sports economics ECC2600 Behavioural economics ECC2610 Game theory and strategic thinking ECC2800 Prosperity, poverty and sustainability in a globalised world ECC3640 Economics of climate change ECC3800 History of economic thought ETC2410 Introductory econometrics *Students wishing to proceed to honours should complete at least 4 level 3 units. Any four undergraduate units with the prefix ECC or ECX offered from the Clayton campus, with at least two units (12 points) at level 2 or 3. FINANCE Finance seeks to achieve the efficient and effective allocation of money manifested in terms of assets, equity and liabilities; it provides the institutions and instruments for the optimal flow of money between individuals, businesses, government and other organisations in the context of risk and return. The major in finance will provide you with skills to work in mainstream functional finance roles with the rigour of a quantitative focus. Undertaking this degree will prepare you for careers in the corporate sector in roles such as Group Finance Director, Treasurer, Securities Dealer, Commodities Trader, Derivatives Trader, Investment Banker, Finance Analyst, Investment Analyst, Stockbroker, Chief Financial Officer, Mergers and Acquisitions Specialist, Risk Manager, Consultant. Finance is listed in the Bachelor of Commerce at Clayton as a major or minor. major will: Be able to critically evaluate, analyse and interpret financial data and demonstrate the use of fundamental financial models and empirical techniques; and formulate and present investment and financing decisions and justifications thereof, and Comply with the Australian Business Dean s Council endorsed Finance Learning Standards of knowledge, application, judgement, communication and teamwork, and reflection. a) The following six units (36 points): BFC2751 Derivatives 1 BFC3240 International finance BFC3540 Modelling in finance BFX1001 Foundations of finance BFX2140 Corporate finance 1 ETC2410 Introductory econometrics b) Two units (12 points) from the following list with at least one unit (6 points) at level three: Bachelor of Commerce Detailed Course Requirements January 2015 v1.0 Page 9 of 12
ACC3230 Financial analysis and valuation BFC2000 Financial institutions and markets BFC2240 Equities and investment analysis BFC2340 Debt markets and fixed income securities BFC3140 Corporate finance 2 BFC3170 Management of financial intermediaries BFC3340 Options, financial futures and other derivatives 2 BFC3440 Pension and financial planning BFX3355 Property investment BFX3871 International study program in banking and finance BTC3200 Finance law OR BTX3130 Stock exchange and derivatives law ETC3460 Financial econometrics* *required for admission to the Honours program in finance. BFC3240 International finance BFX1001 Foundations of finance or BFC2240 Equities and inevestment analysis BFX2140 Corporate finance 1 BFX2751 Derivatives 1 MANAGEMENT STUDIES Management studies emphasises the development of conceptual frameworks and their application to complex management issues in a broad range of organisations, professions, and institutional contexts. Management studies will enhance your capacity to understand and interpret the assumptions behind and practical implications of different schools of thought in management theory, organisational behaviour, and strategic management. A management studies major will prepare you for professional and managerial roles within a range of occupations and industries. Management studies is listed in the Bachelor of Commerce at Clayton as a major or minor. construct conceptual management frameworks and use these to analyse and influence the resolution of complex issues in business, government and the professions. b) The following four units (24 points): MGC1010 Introduction to management MGC2021 Organisation and society MGC2230 Organisational behaviour MGC3110 Strategic management Bachelor of Commerce Detailed Course Requirements January 2015 v1.0 Page 10 of 12
b) Four units (24 points) from any listed below, with at least 12 points at level 3: Change leadership management: MGC3130 Management of change MGC3450 Managing conflict MGX3991 Leadership principles and practices Human capital management: MGC2420 Employee relations MGC2430 Human resource management MGX3441 Human resource strategy International management: MGC2120 Managing international business MGC2130 Asian management MGC3120 International management Responsible management: MGC3250 Management in small firms MGC3950 Managing for sustainability MGX3100 Management ethics and corporate governance Any four undergraduate units with the prefix MGC or MGX offered from the Clayton campus, with at least two units (12 points) at level 2 or 3. MARKETING SCIENCE By studying marketing you will not only grasp deep marketing theory, but also have the capacity to analyse and solve business challenges that require marketing input. You will also be able to formulate marketing outcomes to achieve broad organisational objectives. By understanding marketing s contribution to the firm you will be able to perform a variety of roles in any industry. Marketing science is listed in the Bachelor of Commerce at Clayton as a major or minor. analytically demonstrate the contribution of marketing to the formulation and implementation of effective business strategies. a) The following six units (36 points): MKC1200 Principles of marketing MKC2110 Buyer behaviour MKC2130 Marketing decision analysis MKC2500 Marketing research analysis MKC3110 Marketing analysis and strategy development MKC3120 Marketing strategy implementation b) Two units (12 points) from the following list, with at least 6 points at level 3: Bachelor of Commerce Detailed Course Requirements January 2015 v1.0 Page 11 of 12
BTC3300 Marketing law MKC2610 Strategic retailing in the global context MKC3460 Integrated marketing communications MKC3500 Survey data analysis MKX3481 Marketing channels MKC1200 Principles of marketing MKC2110 Buyer behaviour in marketing MKC2500 Marketing research analysis One undergraduate unit (6 points) with the prefix MKC or MKX offered from the Clayton campus SUSTAINABILITY As a graduate with a major in Sustainability you will be well equipped to consider the interaction between our society, the economy and our environment, and how responsible management can sustain all three into the future. Sustainability is listed in the Bachelor of Commerce at Clayton as a major or minor. deal with complex economic and environmental sustainability issues being addressed by corporations, government and the media. ACX1000 Accounting for managers or ACX1121 Introduction to financial accounting ACX2900 Accounting for sustainability BTC3100 Sustainability and the law ECC1000 Principles of microeconomics ECC2360 Environmental economics ECC2800 Prosperity, poverty and sustainability in a globalised world ECC3640 Economics of climate change MGC3950 Managing for sustainability Any four units (24 points) from the major, with at least 12 points at level 2 or 3. Bachelor of Commerce Detailed Course Requirements January 2015 v1.0 Page 12 of 12