Faculty of Economics and Commerce : Guide to courses
5. Bachelor of Commerce

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5. Bachelor of Commerce
    5.1. Course objectives
    5.2. Duration of the course
    5.3. Course requirements
        5.3.1. Compulsory subjects
        5.3.2. Which quantitative subject?
            5.3.2.1. Actuarial studies and quantitative subjects
        5.3.3. Bachelor of Commerce (Management) requirements
        5.3.4. Commerce and non-commerce subjects
        5.3.5. Psychology
            5.3.5.1. Bachelor of Commerce
            5.3.5.2. Bachelor of Commerce (Management)

5. Bachelor of Commerce

5.1. Course objectives

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 related to 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;
can make a positive contribution to the development of organisations and/or society particularly related to business, government and the professions represented within the faculty;
critically understand the economy, commerce and business and the need to manage the economy for the benefit of all groups in society;
have the ability to work collaboratively in organisations and with individuals;
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 such as accounting, actuarial studies, business information systems, econometrics, economics, finance, management and marketing; and
have a capacity and motivation for continuous learning.

5.2. Duration of the course

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 10 years can be taken to complete the BCom.

5.3. Course requirements

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-1 points, 50 points of which must be commerce points.
include at least 75 level-3 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-1 points. Students may not enrol in level-3 commerce points until they have completed or gained credit for at least 175 level-1 and level-2 points. All commerce subjects are worth 12.5 points.

Students must pass prerequisite subjects before they will be permitted to proceed.

All students must complete 50 level-3 commerce points at the University of Melbourne, including students who complete part of their degree at another institution prior to commencing the BCom or whilst on an approved study abroad or exchange program.

5.3.1. Compulsory subjects

The 300 points required for the BCom must include the following four compulsory subjects totalling 50 points:

316-102 Introductory Microeconomics
316-101 Introductory Macroeconomics

316-130 Quantitative Methods 1

One of:¹

316-205 Introductory Econometrics
316-206 Quantitative Methods 2
325-210 Managerial Decision Analysis
325-212 Market Research

5.3.2. Which quantitative subject?

All Bachelor of Commerce and Bachelor of Commerce (Management) students must satisfactorily complete 316-130 Quantitative Methods 1 and one of the level-2 quantitative subjects listed in Compulsory subjects. The choice of level-2 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-2 and level-3 subjects to ensure the most appropriate choice is made. It is possible to enrol in more than one quantitative subject.

5.3.2.1. Actuarial studies and quantitative subjects

Students intending to specialise in actuarial studies are required to enrol in 620-201 Probability or 620-203 Probability (Advanced) and 620-202 Statistics or 620-204 Statistics (Advanced) 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-1 prerequisites for 620-201 Probability/620-203 Probability (Advanced). 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 are advised to consult a course advisor to discuss their course plan.

5.3.3. Bachelor of Commerce (Management) requirements

To be eligible to graduate with the Bachelor of Commerce (Management) students must complete the following as part of their 300 points of study. The Bachelor of Commerce (Management) is only available to students who commenced their Bachelor of Commerce after 1998.

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-2 and level-3 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.

5.3.4. Commerce and non-commerce subjects

The following subjects are considered to be commerce subjects and may be included in the 200 points of commerce subjects required as part of the Bachelor of Commerce:

Subjects taught by the Departments of Accounting (prefix 306-), Economics (prefix 316-), Management (prefix 325-) and Finance (prefix 333-) and the Centre for Actuarial Studies (prefix 300-);
Business law subjects (prefix 732-) taught by the Faculty of Law;
620-201 Probability, 620-202 Statistics, 620-203 Probability (Advanced) and 620-204 Statistics (Advanced) taught by the Faculty of Science.

All other subjects taught by other faculties are considered non-commerce. This includes those level-1 mathematics subject required in the first year of the actuarial studies specialisation. Students may include up to 100 approved non-commerce points within the single BCom. Normally only subjects taught by the Faculties of Arts and Science will be approved. 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 Faculties of Engineering, Education, Architecture, Building and Planning, and Music. Specifically Bachelor of Commerce students may not enrol in and gain credit for the following subjects taught by the Department of Information Systems (note that combined commerce and information systems students may enrol in these subjects as part of their Bachelor of Information Systems degree):

5.3.5. Psychology

5.3.5.1. Bachelor of Commerce

Students wishing to undertake a psychology major as part of the BCom single 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. This arrangement is not available to combined degree students.

5.3.5.2. Bachelor of Commerce (Management)

Students wishing to undertake a psychology major as part of the BCom(Mgmt) single 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 512-322 Industrial/Organisational Psychology 3 as commerce points. This arrangement is not available to combined degree students.

1.	Bachelor of Commerce/Bachelor of Engineering students must enrol in 316-205 Introductory Econometrics. Bachelor of Agriculture/Bachelor of Commerce and Bachelor of Forestry/Bachelor of Commerce students must enrol in either 316-205 Introductory Econometrics or 316-206 Quantitative Methods 2.