COMMERCE 2019 - University of Melbourne
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“The University has allowed me to engage with like-minded and passionate professionals in their field, both in Australia and abroad. I feel that when I do graduate, I’m leaving with a well- rounded, global outlook and foundation that will support me in my chosen career.” Jessica Lu (Australia) Bachelor of Commerce (Economics and Finance) (cover image) CONTENTS Why commerce? 3 Prepare for every future 4 Bachelor of Commerce 6 Accounting 8 Actuarial Studies 9 Business 10 Economics 11 Finance 12 Management 13 Marketing 14 Concurrent diplomas 15 Your network 16 Our alumni 17 Enhance your study 18 Scholarships 20 Access Melbourne 21 Commerce scholarships (domestic) 22 Commerce scholarships (international) 23 Your career 24 Your next steps 26 Pathways to professional careers 27 Admissions 28 Entry requirements 29 The Spot (pictured) is home to the Get started now 30 Faculty of Business and Economics. 2
WHY COMMERCE? A commerce degree equips you with the skills to solve key business challenges and make a difference to society, policy and organisations. Whether your aim is to work for a large financial consultancy, a tech startup or a social enterprise, studying commerce teaches you how to operate in the modern business world and provides you with a global qualification. The skills you learn in commerce will be with you for life. Commerce enables you to gain transferable skills which are in demand in every industry – including strategic planning, economic and accounting practice, customer relationship management, financial decision- making, operations management, entrepreneurship and marketing. This strong and diverse skills base sets you up for a range of careers. Imagine studying Commerce, majoring in Economics, and getting experience as a journalism intern for The Economist, all before starting your career as an econometrician – someone who builds, simulates and tweaks macroeconomic models – for the Australian Treasury and the Reserve Bank of Australia. You then move to San Francisco to start your own tech service company that uses data science and analytics to solve problems in industries like pharmaceuticals, financial services and energy – a company so successful it is eventually acquired by Google. This is the path of Anthony Goldbloom, CEO of Kaggle.com and Melbourne Commerce graduate. “I started my entrepreneurial journey at Melbourne Uni and I’ll always be grateful for the time I spent there.” Anthony Goldbloom (Australia) Bachelor of Commerce (Economics) Graduated 2006 Founder and Chief Executive Officer, Kaggle.com 3
PREPARE FOR EVERY FUTURE The Melbourne Model is designed to help you maximise your strengths, discover new ones and stand out in the workplace. You’ll start with an undergraduate degree, developing a deep understanding of your chosen area of interest and a breadth of knowledge across multiple disciplines. On graduation you can enter the workforce, or progress to one of over 400 specialised graduate programs. The Melbourne Model is as unique as you. It lets you design your own study path while developing the knowledge, skills and interdisciplinary perspectives you need to thrive in every kind of future. The System Garden, Parkville campus. 4
YOUR UNDERGRADUATE YOUR MAJOR YOUR NEXT STEPS DEGREE Your major is your chosen specialisation After you finish your Commerce degree, Your peers have worked hard for entry into that you’ll focus on throughout your you can choose to join the workforce, or one of the world’s best universities. You degree. In your first year you’ll be able go on to further study at graduate level. will be inspired, encouraged and driven to to try a few different study areas before deciding on your major. You can choose to Choose graduate study and you’ll achieve by our academics. You’ll be part of study one or two majors. There are seven get the full benefit of the Melbourne the renowned intellectual community of majors to choose from – delve into the graduate school experience by studying Melbourne, cultural capital of Australia and following pages to explore your options! intensively, in small classes led by experts one of the world’s most vibrant and diverse and alongside others who share your business hubs. You’ll have the opportunity deep interests and desire to succeed. to explore a wide range of business disciplines and specialise in one or two of YOUR BREADTH STUDIES Your graduate degree will be the seven study areas on offer. Breadth is a unique feature of the internationally recognisable, setting you Melbourne Model. It gives you the chance apart from those who study a traditional to explore subjects outside your core area Australian single or double degree. YOUR CONNECTIONS of study, developing new perspectives and The Melbourne Model connects students learning to collaborate with others who See page 26 to find out where your with each other, the University community have different strengths and interests – degree could lead. and the wider world. You will be surrounded just as you will in your future career. by other highly motivated students who will Some of our students use breadth to inspire you to take on new challenges and explore creative interests or topics they push yourself to a higher level. have always been curious about. Others We encourage every student to engage use breadth to improve their career with organisations outside the University, prospects by complementing their major through internships with business and with a language, communication skills or community groups, applied research scientific expertise. Many discover new projects and overseas study programs. passions through breadth, and some even change their career plans! Our graduates are in demand. We are ranked 7th in the world for graduate ‘Breadth tracks’ (a series of breadth employability.Q More than 250 Australian subjects taken throughout your degree) and international organisations – might qualify you for graduate study in a consulting and technology firms, field that’s very different to your major. government and industry – actively recruit There are hundreds of breadth on campus each year. tracks to explore. See pages 8–14 for more examples of what you could do with breadth. M E L B O U R N E M O D E L G R A D U AT E S : •• ARE HIGHLY SATISFIED WITH THEIR TEACHERS •• DEVELOP ANALYTICAL PROBLEM-SOLVING SKILLS •• EARN MORE W AND BELIEVE THEY ARE PAID AND RECOGNISED FAIRLY •• ENJOY THE WORK THEY DO •• BELIEVE THEIR JOBS MAKE A POSITIVE CONTRIBUTION •• ARE SATISFIED WITH THEIR LEVEL OF RESPONSIBILITY AT WORK •• VOLUNTEER AND GET INVOLVED University of Melbourne Career Outcomes Survey 2017 Q QS Graduate Employability Rankings 2018. W $26 000 difference in annual salary between holders of a graduate vs bachelors degree. Graduate Careers Australia 2015. 5
BACHELOR OF COMMERCE 70% of BCom graduates are employed full time within the first four months after graduating. – Graduate Outcome Survey 2017 The Bachelor of Commerce is an COURSE STRUCTURE CAPSTONE STUDIES ideal pathway to a global career Capstone studies, taken in third year, give in a variety of industries in the you a feel for working in industry and B AC HELO R O F CO M M ERC E business, government and not-for- 24 SU BJECTS ( 8 PER Y EA R ) help you develop your practical business profit sectors. skills and networks. Examples include: You’ll build expansive foundational Management Consulting COMP U LS O RY S U BJ ECTS As part of a multidisciplinary team, work knowledge through core program content 7 CO R E S U BJ E CTS TO COV E R before specialising in up to two major COM M E R C E F U N DA M E N TA LS with a Melbourne-based client on a real areas of study. Breadth study will allow business project over the semester. Past you to explore diverse areas of interest, students have worked with clients in a broaden your graduate abilities, and tailor range of industries and organisations, MAJ O R A N D EL ECT I V E your degree to your chosen career path. from large Australian and multinational S U BJ ECTS companies to niche agencies and not-for- The course consists of 24 subjects, 1 1 –1 3 S U BJ E CTS TO D E E P E N YO U R CO M M E R C E K N O WL E D G E profit organisations. usually taken over three years of full- time study. You will learn from academic Global Management Consulting experts and enjoy enrichment programs Travel overseas and work with a client including career mentoring, student BREA DT H S U BJ ECTS on a two-week consulting project. Past clubs, leadership programs, local and 4– 6 S U BJ E CTS F R O M N ON - CO M M E R C E D I S C I P L I N E S students have completed projects in international case competitions and industries such as banking, advertising, overseas study opportunities. entertainment, construction, professional and consumer services, Commerce graduates are highly sought and insurance. after by industry. Our alumni work in MAJORS roles from graduate to senior manager Business Judgement level in companies ranging from startups You’ll graduate with at least one major, This subject will integrate your to large multinationals and major finance which is a sequence of subjects you knowledge of core business functions consultancies. would complete across your degree. and analytical tools, which you’ll Completing a major indicates that you Commerce offers you: apply to the issues faced by modern are a specialist in that particular organisations and decision-makers. discipline. The Bachelor of Commerce •• A flexible course structure You’ll be challenged to form and act upon offers seven majors: •• Strong career outcomes judgements around strategic directions, •• Accounting marketing priorities and entrepreneurial •• Professional accreditation options opportunities, through simulation tasks Unique student experiences •• Actuarial Studies •• and case analyses. •• Access to scholarships. •• Business •• Economics •• Finance •• Management •• Marketing. If you wish to study a double major, you can combine any two of Accounting, Economics, Finance, Marketing and Management. Q It may be possible to combine Actuarial Studies (with limited accreditation) and a second major. However, there may be restrictions on the choice of your second major and you may not be able to meet entry requirements for honours. The Business major is taken as a single major due to the combination of subjects required for completion. 6
“By surrounding myself with such passionate, intelligent and ambitious peers, I was able to cultivate a belief that no challenge was beyond me. As I heard of all the impressive achievements my friends were accomplishing, I too felt inspired to take control of my University experience and challenge myself.” James Clements (Australia) Bachelor of Commerce (Economics and Finance) BACH E LO R O F CO MME RCE Duration 3 years full time Part time available (domestic students only) Campus Parkville Entry requirements February (Semester 1) or July (Semester 2)Q Domestic students Minimum entry 2019: ATAR 93.00, IB 36 Alternative entry: See Access Melbourne, page 21. Guaranteed entry: If you’re a domestic student, satisfy course prerequisites and achieve an ATAR of 95.00 or above, you will be guaranteed a place in the Bachelor of Commerce in 2019. International students International applicants will need to meet the academic admission and English language requirements. Visit: futurestudents.unimelb.edu.au Prerequisite subject study areas English and mathematics For full details of entry requirements and information for other qualifications visit: coursesearch.unimelb.edu.au Contact hours (first year, full time) Approximately 20 hours per week, plus independent study time of approximately 20 hours per week CRICOS: 002143B Q Your course plan will be different if you are commencing in Semester 2. A number of majors or specialisations within some majors cannot be completed within three years from a mid-year start date due to subject availability. You should pay close attention to prerequisite subjects and when they are offered to avoid any unnecessary delays to your course. 7
ACCOUNTING #1 in Australia and #10 in the world for Accounting and Finance – QS World University Rankings by Subject 2018 Accounting is the ‘language of business’, informing management decision-making and the allocation of resources. It provides the tools to measure and express firm performance and valuation. Professional accountants operate in an PROFESSIONAL increasingly complex and sophisticated RECOGNITION ACCOUNTING CAREERS field and are valued in every industry. Because they act as strategic advisers and Commerce graduates with a major in YOUR FIRST JOB business partners, they must understand Accounting are eligible to apply for business issues and processes and associate membership of: BUSINESS ANALYST have the skills necessary for sound COMPANY AUDITOR decision-making. •• CPA Australia FINANCIAL ACCOUNTANT •• Chartered Accountants Australia and FORENSIC ACCOUNTANT Accounting leads to a career path with New Zealand MARKET ANALYST countless possibilities – you can work in a variety of roles, in any sector, in countries •• Institute of Public Accountants. across the globe. Each body has individual requirements that IN 5–10 YEARS must be met to obtain full membership. ACCOUNTING SENIOR CONSULTANT MANAGER AT MELBOURNE ACCOUNTING SECTORS SENIOR ACCOUNTANT •• Melbourne is known for the quality SENIOR AUDITOR •• Accounting practices, including the ‘Big of its accounting program and strong Four’ (Deloitte, EY, KPMG and PwC) graduate employability outcomes •• Corporations •• The Accounting major offers a direct IN 15–20 YEARS path to becoming a qualified accountant •• Government CHIEF EXECUTIVE OFFICER •• You’ll learn how to produce and •• Investment banking and finance CHIEF FINANCIAL OFFICER interpret financial information and •• Management consulting PARTNER improve resource allocation DIRECTOR SAMPLE COURSE PLAN – BACHELOR OF COMMERCEQ MAJORS IN ACCOUNTING AND FINANCE Accounting Reports Semester 1 Introductory Microeconomics Principles of Finance Principles of Business Law W and Analysis Year 1 Introductory Introductory Financial Semester 2 Quantitative Methods 1 Foundations of Computing Macroeconomics Accounting Corporate Financial Semester 1 Organisational Behaviour Cost Management Corporate Law W Decision Making Year 2 Intermediate Financial Accounting Information: Semester 2 Quantitative Methods 2 Business Forensics and Fraud Accounting Risk and Controls Enterprise Performance Semester 1 Financial Accounting Theory Investments Basic Econometrics Management Year 3 Auditing and Assurance Semester 2 Derivative Securities Asian Capital Markets Taxation Law 1W Services Core subjects Accounting major subjects Finance Major subjects Elective subjects Breadth subjects Q This is a sample course plan only. Subjects offered may change from year to year. You will be advised of current subject offerings prior to subject selection and enrolment. W These subjects are required for accounting accreditation. 8
ACTUARIAL STUDIES Actuaries assess, evaluate and manage the financial risks faced by individuals, organisations and governments to plan effectively for the future. The risks assessed by actuaries can PROFESSIONAL include illness, disability and death, the RECOGNITION ACTUARIAL CAREERS effects of natural disasters, and major economic or social change. Melbourne is one of only six institutions YOUR FIRST JOB in Australia that has full accreditation A major in Actuarial Studies will give from the Actuaries Institute. ACTUARIAL ANALYST you a firm grounding in the traditional PRICING ASSOCIATE actuarial skill set of mathematics, To qualify as an actuary in Australia, you PORTFOLIO ANALYST statistics, demography, finance and must pass (or be exempt from) all three economics. This background, coupled parts of the professional accreditation with strong analytical skills, sees process prescribed by the Actuaries actuaries serving as financial advisers Institute. Parts I and II can be undertaken IN 5–10 YEARS to a range of organisations including as part of your Bachelor of Commerce ACTUARIAL CONSULTANT insurance companies, banks and other (Honours) degree. The Actuaries Institute DATA ENGINEER financial institutions, superannuation administers Part III. INSURANCE PRICING MANAGER funds and governments. Actuaries tackle many types of problems, most of which The Faculty of Business and Economics involve uncertainty about the future. is designated as a Center of Actuarial Excellence by the US Society of IN 15–20 YEARS Actuaries.Q ACTUARIAL STUDIES HEAD OF PORTFOLIO STRATEGY HEAD OF PRICING AND PROFITABILITY AT MELBOURNE ACTUARIAL SECTORS LIFE INSURANCE APPOINTED ACTUARY •• Develop specialist expertise and •• Banking and finance knowledge in an area that will fast- track your high-earning career in the •• Capital and risk management financial sector •• Data science •• Gain expertise in core study areas: •• Insurance and superannuation financial mathematics, life insurance mathematics and actuarial statistics •• Investments and asset management SAMPLE COURSE PLAN – BACHELOR OF COMMERCEW MAJOR IN ACTUARIAL STUDIES E Accounting Reports Semester 1 Introductory Microeconomics Principles of Finance Accelerated Mathematics 1 and Analysis Year 1 Introductory Introductory Financial Introduction to Semester 2 Accelerated Mathematics 2 Macroeconomics Accounting R Actuarial Studies Intermediate Semester 1 Probability Organisational Behaviour Financial Mathematics I Microeconomics Year 2 Intermediate Semester 2 Statistics Financial Mathematics II Engineering Computation Macroeconomics R Sport, Education Semester 1 Actuarial Modelling I Actuarial Modelling II Financial Mathematics III and the Media Year 3 Models for Insurance Semester 2 Contingencies Actuarial Statistics and Finance Core subjects Actuarial major subjects Elective subjects Breadth subject s Q You can gain waivers from some US Society of Actuaries exams by gaining Part I qualifications via the Bachelor of Commerce. W This is a sample course plan only. Subjects offered may change from year to year. You will be advised of current subject offerings prior to subject selection and enrolment. E International applicants intending to commence a major in Actuarial Studies from mid year (July) must, at a minimum, meet the requirements to enter Calculus 2 that requires a study score of at least 29 in VCE Specialist Mathematics Units 3 and 4, or IB Higher Level Mathematics with a score of at least 4 or equivalent, or if attending Trinity College, successful completion of Mathematics 2. 9 R These subjects are required for accreditation as an actuary.
BUSINESS To be successful in business, you have to understand how each component works. The Business major combines subjects from several disciplines, and allows you to develop skills you can use in any industry. This major is flexible and ensures you BUSINESS can design a course plan that suits your AT MELBOURNE BUSINESS CAREERS career goals and interests. You’ll develop skills that can be applied YOUR FIRST JOB It allows you to combine three or more across diverse sectors, including: disciplines (or study areas) from within COORDINATOR the Commerce degree. For example, you •• Oral and written communication ANALYST could choose Accounting, Economics and skills ADVISER Finance to have a holistic understanding •• Critical analysis and synthesis of money and finances. •• Problem-solving During second and third year you will •• Teamwork IN 5–10 YEARS continue to explore the broader concepts of business and will have the opportunity •• Multidisciplinary training DIRECTOR to undertake studies from multiple MANAGER •• Working independently and taking disciplines within the faculty. CONSULTANT responsibility for your learning. Business skills are essential in all industries, and a multidisciplinary BUSINESS SECTORS IN 15–20 YEARS approach to problem-solving is desirable to most employers. •• Management consulting GENERAL MANAGER •• Finance OPERATIONS MANAGER •• Professional services firms CHIEF EXECUTIVE OFFICER •• Banking industry SAMPLE COURSE PLAN – BACHELOR OF COMMERCEQ MAJOR IN BUSINESS Accounting Reports Semester 1 Introductory Microeconomics Principles of Finance Principles of Management and Analysis Year 1 Introductory Semester 2 Quantitative Methods 1 Principles of Marketing Understanding Planet Earth Macroeconomics Intermediate Corporate Financial Hollywood and Semester 1 Organisational Behaviour Microeconomics Decision Making Entertainment Year 2 Intermediate Management of Semester 2 Quantitative Methods 2 Rebels and Revolutionaries Macroeconomics Financial Institutions Managing Work and Computational Economics Semester 1 Entrepreneurial Finance Media Psychology Your Career and Business Year 3 Semester 2 Managing Strategic Change Experimental Economics International Finance Gothic Fictions Core subjects Business major subjects Elective subjects Breadth subjects Q This is a sample course plan only. Subjects offered may change from year to year. You will be advised of current subject offerings prior to subject selection and enrolment. 10
ECONOMICS #1 in Australia and #23 in the world for Economics and Econometrics – QS World University Rankings by Subject 2018 Economists study how people choose to allocate resources. They look at the behaviour of individuals, organisations and governments to understand how markets function. Economics is essential to modern life. The standard selection of quantitative It seeks to understand, assess and subjects for Economics students is ECONOMICS CAREERS explain the mechanisms of markets and Quantitative Methods 1 and national economies. Econometrics 1, as in the sample course YOUR FIRST JOB plan for the Finance major on page 12. A major in Economics builds problem- ANALYST solving skills that are applicable to ASSOCIATE careers in business and government. ECONOMICS RESEARCHER It will teach you how to analyse and AT MELBOURNE interpret data and will equip you with the tools to find smart solutions for •• Melbourne has trained economists the numerous problems confronting since 1855 IN 5–10 YEARS governments and the commercial world. •• Understand how economic welfare, ECONOMIST financial markets and government SENIOR ANALYST Three broad areas of study available impact income and wealth creation within the main discipline are: MANAGER •• Varied employment opportunities in •• Microeconomics both the public and private sectors •• Macroeconomics IN 15–20 YEARS •• Econometrics. ECONOMICS SECTORS DIRECTOR •• Merchant and trading banks, PARTNER Students must complete quantitative investment firms, and stockbroking CHIEF ECONOMIST studies as part of their degree. Students who are strong in mathematics, or and insurance companies who simply enjoy mathematics, are •• Transport, communications, mining, encouraged to follow the sample course retail and manufacturing plan below. This is the recommended path •• Consulting and political analysis for students considering further studies •• Industry associations and trade unions in economics. •• Government SAMPLE COURSE PLAN – BACHELOR OF COMMERCEQ MAJOR IN ECONOMICS Accounting Reports Semester 1 Introductory Microeconomics Principles of Management Calculus 1 and Analysis Year 1 Introductory Semester 2 Principles of Finance Linear Algebra Calculus 2 Macroeconomics Intermediate Globalisation and the Semester 1 Organisational Behaviour Probability for statistics Microeconomics World Economy Year 2 Intermediate Semester 2 Competition and Strategy Political Economy Statistics Macroeconomics Semester 1 Microeconomics Econometrics 2 International Trade Policy Mathematical Economics Year 3 Time Series Analysis and Semester 2 Macroeconomics Behavioural Economics Environmental Economics Forecasting Core subjects Economics major subjects W Elective subjects Breadth subjects Q This is a sample course plan only. Subjects offered may change from year to year. You will be advised of current subject offerings prior to subject selection and enrolment. W A combination of Economics and Econometrics subjects is required to be awarded the Economics major. For full details, please see the University Handbook. The selected major subjects at level 3 are required for entry into honours in Economics. 11
FINANCE Finance professionals manage assets to create and grow wealth for investors. Finance professionals are concerned PROFESSIONAL with the operation of financial markets RECOGNITION FINANCE CAREERS and the management of the wealth of individuals, institutions, firms and The University of Melbourne is a Program YOUR FIRST JOB governments. The finance discipline Partner of the CFA Institute, which examines how these organisations awards the Chartered Financial Analyst® ADVISER raise funds to implement investment (CFA) designation. Recognition as a CFA BANKER strategies, and how they allocate Program Partner means the Commerce PLANNER these funds to a variety of investment Finance major is tied to professional ANALYST opportunities. This involves the practice and helps prepare you for the application of economic analysis, CFA exams. accounting concepts and quantitative IN 5–10 YEARS methods to solve financial problems, assess risks and make financial decisions. FINANCE SECTORS BROKER •• Financial planning CONSULTANT SENIOR PLANNER FINANCE AT MELBOURNE •• Funds management TRADER •• Study capital markets and financial •• Banking institutions, investments and •• Financial analysis financial planning, as well as IN 15–20 YEARS •• Corporate finance corporate, personal and real estate finance •• Trading and dealing PARTNER •• Financial investment advisers and •• Management consulting TREASURER managers earn, on average, over CHIEF FINANCIAL OFFICER $88 000 per annum, so you’ll be FINANCIAL CONTROLLER investing in your future career.Q SAMPLE COURSE PLAN – BACHELOR OF COMMERCEW MAJORS IN FINANCE AND ECONOMICS Accounting Reports Semester 1 Introductory Microeconomics Quantitative Methods 1 Principles of Management and Analysis Year 1 Introductory Semester 2 Principles of Finance Principles of Marketing Australia in the Wine World Macroeconomics Corporate Financial Intermediate Semester 1 Organisational Behaviour Principles of Property Decision Making Microeconomics Year 2 Intermediate Introduction to Principles of Property Semester 2 Econometrics 1 Macroeconomics Real Estate Analysis Valuation Semester 1 Investments Street Finance Microeconomics Property Resource Analysis Year 3 Semester 2 Derivative Securities Econometrics 2 Experimental Economics Property Management Core subjects Finance major subjects Economics major subjects Elective subjects Breadth subjects Q Job Outlook 2018. W This is a sample course plan only. Subjects offered may change from year to year. You will be advised of current subject offerings prior to subject selection and enrolment. 12
MANAGEMENT #1 in Australia and #14 in the world for Business and Management – QS World University Rankings by Subject 2018 Managers bring process and people together to make small or large organisations work. Effective managers lead businesses and organisations in achieving their goals. Studying management equips you with the leadership, analysis, planning and decision-making skills you need to succeed from day one. You will learn about your own personal MANAGEMENT effectiveness, how to work in teams, and AT MELBOURNE MANAGEMENT CAREERS how to solve real organisational problems. You will understand the principles of •• Enjoy real-world industry experience YOUR FIRST JOB making good business decisions, managing through capstone subject opportunities business operations, dealing with change, in Melbourne and abroad BUSINESS PARTNER thinking globally, and acting ethically. •• Graduate with career-ready CONSULTANT skills, including designing and COORDINATOR Management studies are an ideal starting implementing organisational policies, point if you are seeking a career in a expertise in employment relations consulting firm, want to advise social management, strategic planning, IN 5–10 YEARS enterprises, innovate within an existing persuasive communication and organisation, set up your own business, effective negotiation ADVISER or work in human resource management, BUSINESS DEVELOPMENT MANAGER international business, operations OPERATIONS MANAGER management or organisational MANAGEMENT SECTORS development. A strong understanding •• Management consulting of management concepts will also complement studies in other areas such •• Government and not-for-profit IN 15–20 YEARS as accounting or finance. organisations MANAGING DIRECTOR •• Human resources Key management responsibilities include: MANAGING PARTNER •• Operations and supply chain PRINCIPAL •• Providing direction through management leadership, strategic planning and decision-making •• Business process improvement and quality assurance •• Recruiting, training and managing staff, and developing the capabilities •• Project management of the organisation •• Organisational development •• Developing efficiency, quality and and change innovation in operations in a global context. SAMPLE COURSE PLAN – BACHELOR OF COMMERCEQ MAJORS IN MANAGEMENT AND MARKETING Accounting Reports Semester 1 Introductory Microeconomics Principles of Finance Chinese 1 and Analysis Year 1 Introductory Semester 2 Quantitative Methods 1 Principles of Marketing Chinese 2 Macroeconomics Semester 1 Organisational Behaviour Project Management Business in Asia Chinese in Context 1 Year 2 Semester 2 Business Decision Analysis Brand Management Entrepreneurial Marketing Chinese in Context 2 Semester 1 Management Consulting Business Ethics Retail Management Media Psychology Year 3 Chinese Business Semester 2 Business Judgement Neuromarketing Digital Marketing and Economy Core subjects Management major subjects W Marketing major subjects Elective subjects Breadth subjects Q This is a sample course plan only. Subjects offered may change from year to year. You will be advised of current subject offerings prior to subject selection and enrolment. W To be awarded the Management major, students must take at least three level 3 management subjects across the discipline. 13
MARKETING Marketing specialists begin from the point of view of customers (broadly defined) to create, communicate, and deliver offerings that are of value. Organisations use marketing intelligence to respond to needs, growth and trends in the marketplace, in order to maximise profitability. Marketing is essential to the health of Learn the fundamentals of advertising, any profitable enterprise, whether in the product and brand management, strategic MARKETING CAREERS public or private sector. All organisations marketing, market research, relationship engage in marketing activities and must marketing, global marketing, electronic YOUR FIRST JOB decide on a marketing mix that suits marketing and buyer behaviour them best. Marketing allows you to ACCOUNT EXECUTIVE manage a brand and contribute to an You will have a solid understanding CUSTOMER INSIGHTS ANALYST organisation’s business strategy. This of key marketing tools and goals such MARKETING COORDINATOR is relevant within large organisations as as segmentation, positioning, service MEDIA PLANNER well as startups or new businesses. excellence, sustainable leadership, and customer value, satisfaction and loyalty. You will be strong in planning, managing MARKETING deadlines, multi-tasking and leading IN 5–10 YEARS AT MELBOURNE functional teams. DIGITAL COMMUNICATIONS MANAGER MARKETING RESEARCH CONSULTANT The Marketing major will provide you BRAND MANAGER with the tools and skills you need to build MARKETING SECTORS SOCIAL MEDIA SPECIALIST relationships with your audience. It offers •• Marketing services strategies that help you understand your customers and successfully target their •• Market research needs. Marketing studies offer vital skills •• Events and public relations IN 15–20 YEARS and knowledge to underpin your career growth, whatever path you choose to take. •• Fast-moving consumer goods CHIEF MARKETING OFFICER industries COMMUNICATIONS DIRECTOR •• Financial services CREATIVE DIRECTOR ACCOUNT DIRECTOR •• Government SAMPLE COURSE PLAN – BACHELOR OF COMMERCEQ MAJOR IN MARKETING Accounting Reports Semester 1 Introductory Microeconomics Principles of Finance Mind, Brain and Behaviour 1 and Analysis Year 1 Introductory Semester 2 Quantitative Methods 1 Principles of Marketing Mind, Brain and Behaviour 2 Macroeconomics Personality and Social Semester 1 Organisational Behaviour Consumer Behaviour Global Marketing Psychology Year 2 Market and Business Corporate Financial Semester 2 Strategic Marketing Cognitive Psychology Research Decision Making Service and Relationship Semester 1 Product Management Business Ethics The Unconscious Mind Marketing Year 3 Personality and Social Semester 2 Advertising and Promotions Business Judgement Managing Strategic Change Psychology Core subjects Marketing major subjects W Elective subjects Breadth subjects Q This is a sample course plan only. Subjects offered may change from year to year. You will be advised of current subject offerings prior to subject selection and enrolment. W To be awarded the Marketing major, students must take at least three level 3 marketing subjects across the discipline. 14
CONCURRENT DIPLOMAS Concurrent diplomas offer another DIPLOMA IN LANGUAGES DIPLOMA IN MUSIC way to develop your interests Languages available: Ancient Greek, The Diploma in Music provides the and discover new opportunities Arabic, Chinese, French, German, opportunity to further your musical outside of your chosen degree. Hebrew, Indonesian, Italian, Japanese, training or explore areas of academic and Latin, Russian and Spanish. practical interest in music, while gaining a music qualification alongside your FLEXIBLE STUDY Available to: undergraduate studies in another field. OPTIONS Students enrolled in Arts, Biomedicine, The program can be tailored depending Commerce, Design, Music and Science. on your interests, and provides access to Our diplomas give you many flexible Available in some graduate programs the full range of Conservatorium options. options to enrich and broaden your (pending permission from graduate studies – and if you're an undergraduate program coordinator). Available to: domestic student, you may be eligible to Students enrolled in Arts, Biomedicine, receive the final half of the diploma HECS Prerequisites Commerce, Design and Science. free. You can study a diploma alongside If you are applying for a Diploma in your undergraduate degree (adding a Languages other than in Ancient Greek, Prerequisites further year of study), or cross-credit Hebrew or Latin and have not studied There are no additional prerequisites up to 50 points (four subjects) of study your chosen language at the University, once you are enrolled in your in your undergraduate degree and your you are required to take a Language undergraduate degree. Some ensemble diploma, enabling you to complete the Placement Test. subjects require an audition, and entry degree and the diploma within 3.5 years. to the music performance stream – ba.unimelb.edu.au/enrich/diploma- involving individual instrumental or High-achieving students may be able languages vocal lessons – is by recorded audition, to complete their degree and diploma submitted in early February. within three years. Conditions apply, and you should discuss your options with a DIPLOMA IN mcm.unimelb.edu.au/study/degrees/ course adviser once you enrol in your MATHEMATICAL diploma-in-music undergraduate degree. SCIENCES The Diploma in Mathematical Sciences DIPLOMA IN enables you to gain a mathematics INFORMATICS qualification while completing an undergraduate degree. The Diploma in Informatics will equip you with the understanding of IT technologies Available to: and tools that employers are seeking. Students enrolled in Arts, Biomedicine, The diploma is designed to complement Commerce, Design, Music and Science.R your core studies with fundamental programming and data management skills. Prerequisites Available to: A study score of 30 in VCE Specialist Mathematics Units 3 and 4 or equivalent, Students enrolled in Arts, Biomedicine,Q or successful completion of university- Commerce, Design,W Music and Science.E level studies equivalent to VCE Specialist Prerequisites Mathematics Units 3 and 4. Successful completion of 50 points of courses.science.unimelb.edu.au/study/ University study, including the core subject degrees/diploma-in-mathematical- COMP10001 Foundations of Computing, sciences with a weighted average of 65%. cis.unimelb.edu.au/study/ undergraduate Q Bachelor of Biomedicine students cannot complete the diploma and the degree within the standard structure and time frame. Consult your course adviser. W Bachelor of Design students majoring in Computing are not permitted to complete the Diploma in Informatics. E Bachelor of Science students who select a major in Computing and Software Systems or Data Science are not permitted to complete a Diploma in Informatics. R Bachelor of Science students who select a major in Mathematics and Statistics or Mathematical Physics or Data Science are not permitted to complete a Diploma in Mathematical Sciences. 15
YOUR NETWORK With strong connections to national and international business communities, the Faculty of Business and Economics is a leading provider of business education and research, empowering graduates to become global business leaders. YOUR EXPERTS YOUR PEERS YOUR ALUMNI Your academics at the Faculty The Bachelor of Commerce is known The Faculty of Business and of Business and Economics are for attracting high-achieving students Economics along with Melbourne recognised as innovative, expert from all over the world who enjoy Business School has over 60 000 researchers. They collaborate in what the degree offers both within alumni in over 100 countries. With international research projects and and outside the lecture theatre. more than 40 000 Bachelor of publish significant works that inform With 12 faculty-affiliated clubs and Commerce alumni alone, you join a leaders across the globe. Possessing societies for Commerce students, valuable network of peers from all a diverse range of qualifications you’ll form lasting friendships, learn professions the day you start. from some of the world’s leading new skills and have the opportunity universities, they also have extensive to work on projects which make a real teaching, research and consulting difference to the wider community. experience with a variety of institutions. YOUR CAMPUS YOUR CITY YOUR FACILITIES You’ll study at the Parkville campus, Melbourne has been named the The home of Commerce is ‘The Spot’ which is located in the heart of world’s most liveable city seven – a green-star, purpose-built facility Melbourne. Co-location with industry years in a row,Q boasting diverse for the University’s Business and and business fosters engagement with communities, one of the world’s best Economics students (see page 2). future employers and means you won’t healthcare systems and a unique, With new student lounges, cafes and have to look far for inspiration for the vibrant urban culture. The Parkville our always popular Giblin Eunson next stage of your professional journey. campus is only a short stroll away Library, you’ll never want to leave. from Melbourne’s famed cobblestone lanes, culinary delights, arts, world-class shopping and dynamic business district. Q The Economist Intelligence Unit’s annual global liveability survey. 16
OUR ALUMNI DINUKA JAYASURIYA MARISSA SIVANANDAM EWE JIN TAN Bachelor of Commerce Bachelor of Commerce Bachelor of Commerce (Actuarial Studies) (Accounting and Management) (Economics and Finance) Graduated 2011 Graduated 2017 Graduated 2016 Senior Associate, Education and Management Consultant, PwC Equities Analyst, Churchill Capital Infrastructure at NAB “I chose Accounting because of the strong “One of the highlights of my uni experiences was “I was able to embrace the University culture attention to detail and deductive skills that participating and placing second in the UNIT- and attributes such as academic excellence, it helps you to develop. Management, on the Saxo Capital Markets Trading Challenge. This comprehensive knowledge across disciplines, other hand, complemented my Accounting was a two-week national trading competition, leadership in communities and being active major by challenging me to analyse all allowing me to analyse the macro-economy global citizens. These skills enabled me to aspects of a company and to be a little and implement my own trading strategy in the better manage my university life, but also creative with solutions to a variety of unique currency market. The success in this trading prepared me for my future successes both organisational problems.” challenge motivated me to refine my trading within and outside my career choice.” strategy and ultimately trade a live portfolio.” CYNTHIA DUPES TIM HOLT HELEN MITCHELL Bachelor of Commerce Bachelor of Commerce Bachelor of Commerce (Management and Marketing) (Finance and Management), graduated 2014 (Economics) (Honours) Graduated 2017 Master of Finance, graduated 2016 Graduated 2010 Current Melbourne JD student Consultant in Corporate Value Advisory, Australian Diplomat, Mexico City Deals, PwC “For me, studying a Bachelor of Commerce “Studying economics at the University of at the University of Melbourne means “What I enjoyed most about my course was Melbourne was challenging, engaging, I’ve achieved things I never thought the fantastic networks I’ve developed and eye-opening and inspiring. I was taught by were possible.” friends I’ve made as a result of being part the highest-quality lecturers and enjoyed of the wider community. University is about the organised yet flexible structure of the much more than just going to class.” Commerce degree.” 17
ENHANCE YOUR STUDY 400+ students travelled overseas as part of their Bachelor of Commerce studies in 2017. University life is not just about SKILLS WORKSHOPS GLOBAL MANAGEMENT going to class and studying for The Faculty of Business and Economics CONSULTING exams. The best way to make the Skills Workshops series is a professional Global Management Consulting is a third- most of your time on campus is development program that aims to year capstone subject that gives you the by taking advantage of all that develop the non-technical employability opportunity to gain industry experience the University of Melbourne has skills that you need to participate in an international setting. You could be effectively in the workplace. Delivered spending two weeks in an overseas city, to offer, through complementary by industry experts and based around working on a genuine business challenge studies, exchange and study the Australian Government’s Core Skills with your peers. In 2017 our students abroad opportunities, or student for Work Developmental Framework, travelled to Singapore, Seoul, Shanghai, clubs and societies. these workshops will enable you to build Berlin, Santiago and San Francisco, among and refine the skills and knowledge that other places. See page 6 for more details. fbe.unimelb.edu.au/students/ employers want. bcom/enrich STUDENT CLUBS FUTURE LEADERS FORUM AND SOCIETIES STUDY ABROAD This program is open to approximately 120 AND EXCHANGE of our highest-achieving undergraduate Our student clubs and societies do amazing work in the student and wider We encourage all Bachelor of Commerce students. It aims to provide you with community. They provide members students to undertake part of your practical perspectives on leadership, with valuable industry connections and degree overseas. By doing so, you can drawing on the experiences of leaders fantastic development opportunities immerse yourself in a different social, from a variety of fields. The event provides – from offering consulting experiences cultural and intellectual scene and add an a range of rich opportunities for meeting with local and international charities to international perspective to your studies. and networking with business and empowering more women to excel in Our students who have participated in community leaders as well as other high- finance. this program have studied at Berkeley achieving students. (USA), Bocconi (Italy), Cornell (USA) and Clubs include: Lund (Sweden), just to name a few. CASE COMPETITIONS •• Accounting Students’ Association mobility.unimelb.edu.au Our case competitions offer •• Actuarial Students’ Society opportunities for you to test your •• AIESEC business case solving skills, receive CAREER MENTORING training from and network with corporate •• Banking on Women PROGRAM sponsors, and get hands-on experience •• Cainz The program connects you with an as a management consultant. These •• Commerce Students’ Society industry mentor, based on your shared programs are held in Australia and interests, your course of study and their across the globe, and the faculty offers •• Economics Student Society of Australia area of specialty. Your mentor will provide funding for accommodation and student •• Enactus you with information on industries, bursaries to help with additional costs. •• Financial Management Association professions and general work skills. You’ll of Australia also get advice and support with career direction, networking, skills assessment, UNIMELB STARTUP •• Global Consulting Group job hunting, and applications. Partners The annual UniMelb Startup Competition •• Melbourne Microfinance of accounting firms, directors of aims to activate and facilitate student Initiative management consultancies, bankers, entrepreneurship at the University of •• Students’ Association of senior public servants and many other Melbourne. It gives you the opportunity Management and Marketing professionals have been offering valuable to pitch your startup idea to a panel insights into the world of commerce to of Australia’s most prominent angel •• University Network for the faculty’s students. investors and industry experts for Investing and Trading. feedback and prizes. 18
“I recently completed my Leaders in the Community Award. I did volunteering work with the Student Union and attended different workshops in topics like personal effectiveness and networking. I also went to the careers and consulting fairs. I think I’ve learned a lot and really enriched my skills and knowledge.” Jiajun (JJ) Zhang (China) Bachelor of Commerce (Finance and Management) 19
SCHOLARSHIPS The Melbourne Scholarships Program is one of the most comprehensive and generous in Australia. With over 1200 scholarships available for new and current students – including domestic and international students – there’s likely to be at least one that you are eligible for. For many of our undergraduate •• Living allowance for the standard full- •• Have applied for a University of scholarships we’ll assess your eligibility time duration of the undergraduate Melbourne undergraduate course via when you apply for your course, so you degree and concurrent diploma with a VTAC for commencement in the year don’t need to put in a separate application. value of: following completion of an Australian •• $5000 per year if you completed Year 12 or IB As well as starting out with a University high school in Victoria •• Not have previously undertaken any scholarship behind you, there are several $10 000 per year if you completed tertiary studies (excluding extension prizes for academic achievement on offer for •• high school outside Victoria. studies completed as part of a Year 12 Commerce students through the Faculty of program). Business and Economics. See pages 22–23. •• Melbourne Global Scholars Award for an approved period of overseas study Selection Below, we’ve highlighted one of our as an exchange or study abroad student The Melbourne Chancellorʼs Scholarship most prestigious scholarships for school leavers, but you can check out •• Guaranteed Commonwealth is awarded on the basis of merit and what we have to offer and find the right Supported Place in a professional guaranteed to all students who satisfy the scholarship for you at: masters degree Q if you meet the undergraduate course prerequisites and: prerequisite and entry requirements scholarships.unimelb.edu.au for the masters. •• Achieve an ATAR of at least 99.90, or •• Intend to undertake the Bachelor of For international students: Music and achieve an ATAR of at least MELBOURNE 99.85 and achieve an audition score •• A 50 per cent tuition fee remission for CHANCELLOR’S the standard full-time duration of an of A+, or SCHOLARSHIP undergraduate degree •• Are of Indigenous Australian descent and achieve an ATAR of at least 90.00. The Melbourne Chancellor’s Scholarship •• Melbourne Global Scholars Award for is awarded to talented undergraduate an approved period of overseas study Application students in recognition of their as an exchange or study abroad student Eligible students who have applied for outstanding academic achievement •• Guaranteed international full-fee place admission to the University via VTAC will during their Australian Year 12 or in a professional masters degreeQ if be automatically considered. International Baccalaureate (IB). you meet the prerequisite and entry You deserve the rewards requirements for the masters. Outcome The first offers are made a few days after Would you like to begin your Bachelor of Eligibility the Victorian Year 12 ATAR results are Commerce degree at the University with To be considered for this scholarship, released in December. Further offers the security of knowing a graduate place you must: are made in January and February to is reserved for you when you finish? students who have completed the IB or •• Be one of the following: If you’re studying Year 12 in Australia Year 12 outside Victoria. •• A domestic or international student or you’re an Australian citizen studying who completed an Australian Scholarship offers do not represent an Australian Year 12 or IB overseas, Year 12 or the IB in Australia, or an offer for admission to a University you could be eligible for our Melbourne An Australian citizen who of Melbourne undergraduate degree. Chancellor’s Scholarship. •• completed an Australian Year 12 Course offers are made separately Benefits or the IB outside Australia through VTAC. For domestic students: chancellorscholars.unimelb.edu.au •• HECS student contribution exemption for the full duration of a Commonwealth Supported Place in an undergraduate degree and a concurrent diploma Q Some exclusions apply. For a list of applicable courses, go to: chancellorscholars.unimelb.edu.au 20
ACCESS MELBOURNE Access Melbourne is the University of Melbourne’s special entry and equity program for domestic students. Access Melbourne can help you gain a HOW TO APPLY ACCESS SCHOLARSHIPS place in the Bachelor of Commerce, or one of our other undergraduate degrees, even Lodge a Special Entry Access Scheme Approximately 200 Access Melbourne if your ATAR is below the selection rank (SEAS) application via VTAC at students every year also receive an normally required for an offer (subject to vtac.edu.au for one or more of the allowance of $5000 per year (paid in meeting course prerequisites). You may following Access Melbourne categories: half-yearly instalments) for the normal, also be eligible for guaranteed entry or an full-time duration of the course. Every •• Disadvantaged financial background Indigenous student who enrols in Access Scholarship. •• Applicants from rural or isolated areas Semester 1 2019 is guaranteed one of We also have scholarships and grants that •• Under-represented school these scholarships. can ease the financial load, and a housing •• Difficult circumstances We also offer a tuition waiver of up program to get you securely settled close to campus. •• Disability or medical condition to $30 500 for 10 high-achieving •• Non-English speaking background Access Melbourne students per year. In 2018, 30 per cent of our domestic Plus, if you live in regional Victoria or •• Recognition as an Indigenous undergraduate students were eligible Australian interstate, the University will reserve for Access Melbourne, and demonstrated a place in a residential facility close to that, because of personal circumstances, •• Mature-age consideration our Parkville campus for the first year their ATAR was not fully reflective of their (non-school leaver entry pathway). of your studies.E real potential.Q The Faculty of Business and PATHWAY TO COMMERCE Economics also offers a range GET A GUARANTEED If you’re a domestic student, you could of Access scholarships for PLACE be eligible for a guaranteed place in the students that apply through Bachelor of Commerce if you complete the the Special Entry Access If you’re from a rural or isolated area, have one-year Diploma in General Studies with Scheme (SEAS). See page 22 a disadvantaged financial background or an average score of 85 in all DiGS subjects for further details. are an Indigenous Australian, you could be and meet the maths prerequisites.W The eligible for a guaranteed place. program, based at Dookie campus, gives For 2018, the guaranteed ATAR for you the opportunity to study commerce, Commerce via Access Melbourne was agriculture, design or science. To be 88.00 (83.00 for Indigenous students). eligible for the guarantee, you must also Guaranteed ATARs for entry in 2019 will be eligible for Access Melbourne at the be published in June 2018 at: time you apply for the diploma. access.unimelb.edu.au fvas.unimelb.edu.au/digs Q Percentage is based on start-year intake. W Students without a 25 in VCE Mathematical Methods Units 3 and 4 must meet the maths prerequisite in some other way. For example, UoM Calculus and Probability online or Unilearn Senior Mathematics. E The offer does not include the cost of the accommodation. Places are limited, so apply early to avoid disappointment. 21
COMMERCE SCHOLARSHIPS (DOMESTIC) Number Scholarships Benefits Eligibility available Q Abernethy Scholars •• Membership in a student peer network, including All first-year •• Students selected into the Bachelor of Commerce who are Program cross-cohort activities students who awarded a faculty scholarship on the basis of their SEAS Scholarships included in this •• Exclusive access to some of the faculty’s key receive a SEAS- application will automatically be awarded a place in the program are denoted by a (*) experiential programs based faculty Abernethy Scholars Program in the list below scholarship •• Group mentoring by Professor Margaret A Abernethy, Sir Douglas Copland Chair of Commerce and former Dean of the Faculty of Business and Economics •• Exclusive professional development opportunities Commerce at •• Residency at International House for the first year of 1 •• Australian citizen residing in rural or regional Victoria International House the Bachelor of Commerce, valued at approximately •• Eligible for Access Melbourne Scholarship* $28 000 •• Submit a SEAS application via VTAC •• Have applied to International House online •• Selection is based on academic merit, location of secondary school attended and documented disadvantage •• Apply online: fbe.unimelb.edu.au/scholarships Commerce Opportunity •• Annual payment of $15 000 for three years, 3 •• Australian citizen residing in Victoria Bursaries* totalling $45 000 •• Eligible for Access Melbourne •• Selection is based on academic merit and documented financial or other disadvantage •• Automatic consideration for SEAS applications via VTAC Dawn Wade Scholarship* •• Residency at International House for three years, 1 •• Australian citizen who completed secondary school in a to the maximum value of $28 000 per year rural or isolated area •• Eligible for Access Melbourne •• Submit a SEAS application via VTAC •• Selection is based on academic merit and documented residence in a rural or isolated area •• Have applied to International House online •• Apply online: fbe.unimelb.edu.au/scholarships Faculty Opportunity •• Annual payment of $15 000 for three years, 1 •• Australian citizen or permanent resident Bursary* totalling $45 000 •• Eligible for Access Melbourne •• Selection is based on academic merit and documented financial or other disadvantage •• Automatic consideration for SEAS applications via VTAC First in the Family •• Annual payment of $10 000 for three years, 6 •• Australian citizen or permanent resident Scholarships* totalling $30 000 •• Eligible for Access Melbourne •• Be the first in their family to attend university •• Submit a SEAS application via VTAC •• Apply online: fbe.unimelb.edu.au/scholarships Melbourne Chancellor’s •• Mentoring by a senior business leader All Bachelor •• Entry into the Melbourne Chancellor’s Scholarship Scholarship — Copland •• Invitations to special faculty events of Commerce (see page 20). Program Chancellor’s •• Membership of a cohort of high-achieving students Scholarship •• Access to a student peer network, including cross- recipients cohort activities and a series of alumni events •• Invitations to the faculty’s key experiential programs •• Group mentoring by Professor Paul Jensen, Deputy Dean of the Faculty of Business and Economics •• Exclusive professional development opportunities The Andrew J Nash First •• Annual payment of $10 000 for three years, 1 •• Australian citizen or permanent resident in Family Scholarship totalling $30 000 •• Eligible for Access Melbourne •• Be the first in their family to attend university •• Submit a SEAS application via VTAC •• Automatic consideration for eligible students Q Based on the number of each of these scholarships awarded for 2018. 22
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