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Faculty of Economics and Commerce : Guide to courses
The Bachelor of Commerce course has as its objectives that graduates:
understand basic concepts and institutional arrangements underlying operations of the Australian economy;
can communicate effectively especially on matters of economics and commerce, and have skills in written, oral and electronic communication that are necessary for the pursuit of a career in the professions or disciplines in commerce;
possess skills in the basic quantitative methods and information technologies as used in the study of the economy, commerce and government;
can analyse and solve problems and are committed to seeking solutions in a scholarly manner by reference to observable data and a knowledge of the behaviour of groups in the economy;
critically understand the economy, commerce and business and the need to manage the economy for the benefit of all groups in society;
have a capacity and motivation for continued learning;
have a basic level of knowledge and skills in several disciplines and a more specialised level of knowledge and skills in one or more disciplines taught in the faculty: accounting, actuarial studies, econometrics, economics, finance, management, industrial relations, human resource management, marketing and management information systems.
The Bachelor of Commerce and Bachelor of Commerce (Management) pass degree is usually taken full time over three years and part time over six years. Full time students are expected to take four subjects per semester for six semesters. No more than eight years can be taken to complete the BCom.
Students undertaking both the Bachelor of Commerce and Bachelor of Commerce (Management) must accumulate a minimum (and maximum) of 300 points which must:
include between 87.5 and 125 level-100 points, 50 points of which must be Commerce points.
include at least 75 level-300 points, 50 points of which must be Commerce points.
include the four compulsory subjects, see Compulsory subjects.
include a total of at least 200 Commerce points, see Commerce and non-Commerce subjects.
Students may not enrol in level-2 Commerce subjects until they have completed or gained credit for at least 75 level-100 points. Students may not enrol in level-3 Commerce points until they have completed or gained credit for at least 175 level-100 and level-200 points. All Economics and Commerce subjects are worth 12.5 points.
Students must pass prerequisite subjects before they will be permitted to proceed.
The 300 points required for the BCom must include the following four compulsory subjects totalling 50 points:
316-101 Introductory Macroeconomics
316-102 Introductory Microeconomics
316-130 Quantitative Methods 1
One of
316-205 Introductory Econometrics
316-206 Quantitative Methods 2
325-210 Managerial Decision Analysis
325-212 Market Research
All Bachelor of Commerce and Bachelor of Commerce (Management) students must satisfactorily complete 316-130 Quantitative Methods 1 and one of the level-200 quantitative subjects listed in Compulsory subjects. The choice of level-200 quantitative subject will be dependent upon the area in which a student wishes to specialise and the subjects in which a student wishes to enrol later in their degree. Students are strongly advised to check the prerequisites of level-200 and level-300 subjects to ensure the most appropriate choice is made. It is possible to enrol in more than one quantitative subject.
Students intending to specialise in actuarial studies are required to enrol in 620-201 Probability and 620-202 Statistics taught by the Faculty of Science, instead of the two quantitative subjects taught by the Faculty of Economics and Commerce. These students should note the level-100 prerequisites for 620-201 Probability. Any student may satisfy the quantitative requirements of the BCom in this way and this option may be particularly attractive to Bachelor of Commerce/Bachelor of Science students. Students enrolled in combined Commerce courses intending to undertake a specialisation in actuarial studies and/or enrol in 620-201 and 620-202 are advised to consult a course advisor to discuss their course plan.
To be eligible to graduate with the Bachelor of Commerce (Management) students must complete the following as part of their 300 points of study.
Five core subjects
306-102 Accounting Concepts or 306-103 Accounting 1A
316-101 Introductory Macroeconomics
316-102 Introductory Microeconomics
316-130 Quantitative Methods 1
316-205 Introductory Econometrics or 316-206 Quantitative Methods 2 or 325-210 Managerial Decision Analysis or 325-212 Market Research
plus
Six core management subjects
325-101 Management
325-102 Business in the Global Economy
325-203 Operations Management
325-209 Human Resource Management
325-211 Principles of Marketing
325-228 Strategy
plus
Five other level-200 and level-300 management subjects (325 prefix).
Students may also choose to specialise within one of the four areas of management (see BCom specialisations).
Bachelor of Commerce (Management) students should note that the general Course requirements of the BCom apply to the BCom(Mgmt) also.
Commerce subjects are those taught within the Faculty of Economics and Commerce by the Departments of Accounting and Finance (306- prefix), Economics (316- prefix) and Management (325- prefix), the Centre for Actuarial Studies (300- prefix) and the Business Law subjects (732- prefix) taught by the Faculty of Law. All subjects taught by other faculties, with the exception of Business Law subjects, are considered non-Commerce. Students may include up to 100 approved non-Commerce points within the BCom. Approval will not normally be granted to enrol in subjects which, in the opinion of the Faculty, are equivalent to those taught within the Faculty. Nor will approval normally be granted to enrol in professional subjects such as those taught within the Faculty of Engineering.
Students wishing to undertake a psychology major as part of the BCom degree are exempt from 512-220 Quantitative Methods for Psychology 2 on the basis of having completed 316-206 Quantitative Methods 2 or 316-205 Introductory Econometrics and are permitted to count 512-320 Research Methods 3 as Commerce points.
Students wishing to undertake a psychology major as part of the BCom(Mgmt) degree are exempt from 512-220 Quantitative Methods for Psychology 2 on the basis of having completed 316-206 Quantitative Methods 2 or 316-205 Introductory Econometrics and are permitted to count 512-320 Research Methods 3 or the Organisational and Psychology stream of Applied Psychology 3 as Commerce points.
The following guidelines apply to the granting of permission to overload.
Students who have failed two or more subjects in their first year will not be given permission to overload in their second year.
Students who have failed one subject in their first year may be given permission to overload in their second year, provided they have passed all subjects in the previous semester (or two semesters in the case of a part-time student).
Third year students who require one or two additional subjects to complete the degree in the year in question will automatically be granted permission to overload, provided that no more than one additional subject is taken per semester.
Students will not be permitted to exceed a total of 24 subjects in the degree course. Permission to overload will only be granted if the Faculty believes that the student has the ability to pass all the subjects in the overloaded course, and that the overload will not result in a substantially diminished performance in the course.
Students who have successfully completed 306-103 Accounting 1A and/or 306-104 Accounting 1B through MUPHAS or AAF1022 and/or AAF1032 through the Monash Enhancement program are eligible to apply for credit towards the BCom. Students who have achieved a BOS score of 44 or above in VCE Units 3 and 4 Accounting are eligible to apply for an exemption from 306-103 Accounting 1A.
Students who have achieved a score of 6 or above in the IB Higher Level Economics are eligible to apply for an exemption from 316-101 Introductory Macroeconomics.
Students commencing the BCom with previous, uncompleted university studies may be given credit for up to 150 points towards the BCom. Credit will only be given for subjects successfully completed, which in the opinion of the Faculty are equivalent to those subjects permitted to be undertaken as part of the BCom. Students who have undertaken studies at other institutions must complete, or be granted credit for, the four compulsory subjects, and must complete at least 50 level-300 points within the Faculty in order to be eligible to graduate.
Graduates admitted to the BCom course will receive credit for a maximum of 100 points. A diplomate with a three year qualification may receive credit for up to 100 points as approved by the General Manager.
Students wishing to apply for credit or an exemption should consult the Faculty's Credit and Exemptions Policy and Procedure brochure available from the Faculty Office.
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