An Undergraduate Business Magazine - For Aspiring Business Leaders

HANDLE WITH CARE:MONASH UNIVERSITY TAKES NO RESPONSIBILITY FOR THE POTENTIALLY LIFE-CHANGING OUTCOMES OF OPENING THIS DOCUMENT.

Are you ready to change your life? Let’s get started.

The business world is an ever-evolving place, filled with opportunity. No matter what your interests are, there is a place – and a career – for you in business; you just need to take that first step. And the best way to launch your career

is with a solid business education from Monash University.

At Monash, we can help you start on your journey to success with a range of courses that give you the tools you need to forge your own path. We offer

flexible courses that put the choice in your hands, and the most amazing breadth of business subjects – with everything from Accounting to Marketing

to Finance or Econometrics, and so much more.

This magazine is designed to give you a taste of business and commerce at Monash and introduce you to fields and industries you might never have heard

of. Your dream career could be waiting for you in the pages of this magazine.

Visit our website monash.edu/business-economics/undergraduate for more information about our courses and majors, and to download a copy of our 2015 undergraduate course guide.

PUBLISHERFaculty of Business and EconomicsMonash UniversityPO Box 197Caulfield EastVictoria, 3145, AustraliaTelephone: (613) 9903 1400www.monash.edu/business-economics

ART DIRECTION Design By Pidgeon

FUTURE STUDENT ENQUIRIESLocal studentsTelephone: (03) 9903 4788Email: [email protected]/study

International students International Recruitment ServicesMonash University871 Dandenong Road Caulfield EastVictoria, 3145, AustraliaTelephone: (613) 9903 4788Email: [email protected]/study/international

FOLLOW US facebook.com/Monash.University twitter.com/MonashUni youtube.com/MonashUniBuseco

© 2014 Faculty of Business and Economics, Monash University

No part of this publication may be reproduced in any manner without prior written permission from the publisher. Course information, including ATAR information is indicative only.

Monash University reserves the right to alter information, procedures, fees and regulations contained in this document. Please check Monash University website for updates (www.monash.edu.au). All information reflects the prescriptions, policy and practice in force at time of publication.

Published February 2014.

KEY

CONTENTS:4

Who needs business skills? Find out which industries need

graduates with business and commerce skills

6 So you want a career in…?

Want to work in entertainment, fashion or sports? You can with a business or commerce degree – as many of our graduates have found

10 Anatomy of a commerce student

Every university experience is different. Read about some of the choices our Bachelor of Commerce students have made to personalise their experience

12 Let’s talk about flexibility and choice

Our students talk about why they chose to study at Monash

14

It’s not just a numbers game Find out why a degree in accounting

is about more than just numbers

16 Quirky careers Read about some of the ‘quirky’

career paths on offer for accounting, banking and finance graduates

18

In economic terms Learn all about the fascinating field of

economics and where it can take you

26 The power of an internship Our students talk about their

internship experiences

28

What is actuarial studies? Find out more about the growing field

of actuarial studies and how you can turn your passion for maths into a career

34 Climbing the corporate ladder Four of our experienced graduates

share their CVs and where their careers have taken them

38

I’ve never heard of that major…

Find out more about a career in business law or econometrics and business statistics

40 When 1 plus 1 doesn’t equal 2 Read about our fantastic double

degree program and learn more about studying a double degree at Monash

44

Human resources Your guide to launching a career in HR

48

Where in the world? Our students study all over the

world as part of the Monash Abroad program. Find out where you can go

52 Fact or fiction? We decipher the truth about

university life

54 Year 12 survival Tips to get you through your

final year of high school

56 Busting the jargon Figure out all the university terms

before you step foot on campus with this helpful glossary

58

Faculty of Business and Economics course information Find out everything you need to

know about studying business or commerce at Monash, including course information, entry requirements and more

MONASH UNIVERSITY

4 C A R E E R S

How many of these industries need people with business skills?

FACULTY OF BUSINE SS AND EC ONOMIC S

5 C A R E E R S

Answer: 100 per cent. All industries need people with business skills. Business and commerce graduates work across all fields – from medicine, engineering and law to government, education, science, the arts and everything in between. People with business skills are essential to direct, shape and manage every industry across the world.

MONASH UNIVERSITY

6 C A R E E R S

SO YOU WANT A CAREER IN SPORT? (without picking up a football )

C O N N E C T I O N S

430A D D T O N E T W O R K

Connect+ A D D T O N E T W O R K

Connect+


176

P R O F I L E

ADAM FYFE Fan Development Manager, North Melbourne Football Club Melbourne Area, Australia | Marketing and Advertising

P R O F I L E

CHRIS SIMMONDS General Manager - Finance & Administration, North Melbourne Football Club Melbourne Area, Australia | Sports

E D U C A T I O N

Bachelor of Commerce

E D U C A T I O N

Bachelor of Business/ Bachelor of Arts

You don’t have to be an athlete to have a career in the sports industry. Check out these Monash graduates who have forged a business career in the sporting codes they love.

E X P E R I E N C E

2012 Fan Development and Match Day Manager, North Melbourne Football Club

2010 National Campaign Coordinator, STA Travel

2008 Marketing Coordinator, Nike Australia

E X P E R I E N C E

2008 General Manager – Finance & Administration, North Melbourne Football Club

2007 Senior Accountant, Collingwood Football Club

2005 Financial Accountant, Melbourne Storm

2002 Accountant, OHM Australia

Read more stories from our graduates at monash.edu/business-economics/undergraduate


7 C A R E E R S

A D D T O N E T W O R K



Connect+


353C O N N E C T I O N S

500+C O N N E C T I O N S

161

P R O F I L E

LUKE CHAMBERS Football Analyst, Essendon Football ClubMelbourne Area, Australia | Sports

P R O F I L E

DIANNE O’NEILL Senior Manager – Finance & Business Operations, Gymnastics AustraliaMelbourne Area, Australia | Sports

P R O F I L E

SARAH FAIR Head of Human Resources, Australian Football League (AFL) Melbourne Area, Australia | Sports

E D U C A T I O N

Bachelor of Business (Management) and Bachelor of Behavioural Neuroscience

E D U C A T I O N

Bachelor of Economics

E D U C A T I O N

Bachelor of Business/ Bachelor of Arts

E X P E R I E N C E

2011 Senior Manager – Finance & Business Operations, Gymnastics Australia

2010 Cricket Operations Project Manager, Cricket Australia

2004 Team Operations Manager, Cricket Australia

2003 Events Coordinator, Ford Performance Racing

2001 Office Manager, Glenn Seton Racing

1995 Office Manager, Gymnastics Victoria

1992 Business Banking Officer, ANZ

E X P E R I E N C E

2013 Football Analyst, Essendon Football Club

2011 Senior Football Analyst, Melbourne Football Club

2008 Football Technology Manager, Hawthorn Football Club

2007 Recruiting Analyst, Hawthorn Football Club

2002 Account Manager, Buzz Creative

1999 Marketing Manager, CallTime Solutions

E X P E R I E N C E

2013 Head of Human Resources, Australian Football League (AFL)

2012 Head of Diversity & Inclusion, Australia Post

2011 Head of Culture & Employee Engagement, Australia Post

2004 Senior Organisational Development Consultant, Right Management

MONASH UNIVERSITY

8 C A R E E R S

P R O F I L E

MEL ALEXANDER Director Strategic Planning, The Walt Disney CompanyMelbourne Area, Australia | Entertainment

P R O F I L E

MONIQUE SMITH Marketing Manager - Specialty Luxury Brands, L’Oreal AustraliaAustralia | Marketing and Advertising


225A D D T O N E T W O R K


Connect+


419

SO YOU WANT A CAREER IN FASHION AND ENTERTAINMENT? ( without stepping in front of a camera)

E D U C A T I O N


E D U C A T I O N


E X P E R I E N C E

2013 Director, Strategic Planning, The Walt Disney Company (Australia)

2012 Director, Retail and New Business Development, The Walt Disney Company (Australia)

2010 Director, Commercial Services, The Walt Disney Company (Australia)

2008 Commercial Marketing Manager, The Walt Disney Company (UK)

2007 Group Brand Manager, The Walt Disney Company (UK)

2004 Product Manager - Home Entertainment, The Walt Disney Company (Australia)

2002 Category Manager - Social Stationery, John Sands

2000 Marketing Executive, Jacka Wortley Fabrics

1999 Field Sales Representative, Cadbury

E X P E R I E N C E

2013 Marketing Manager - Specialty Luxury Brands, L’Oreal Australia

2012 Group Brand Manager - Garnier Skincare, L’Oreal Australia

2012 Sponsorship Management - Garnier Group, L’Oreal Australia

2011 Senior Brand Manager - Garnier Facial Skincare, L’Oreal Australia

2011 Brand Manager - Garnier Haircolour & Fructis, L’Oreal Australia

2006 Event Manager - L’Oreal Paris, Garnier, Maybelline, L’Oreal Australia

2005 Event Manager, 2 Fish Management

2001 Event Manager, Urban Caprice (Brands: Elle Style Awards, BBC, Fendi, Armani)

You don’t have to be a celebrity or fashion designer to have a career in entertainment or fashion. Many of our business and commerce graduates have found successful careers behind the cameras of the entertainment industry.

Read more stories from our graduates at monash.edu/business-economics/undergraduate


9 C A R E E R S

P R O F I L E

LETISHA DALL Digital Communications Coordinator, MimcoMelbourne Area, Australia | Retail

P R O F I L E

EBONY FAWCETT Global Retail Marketing, Department Manager, Forever 21Melbourne Area, Australia | Apparel & Fashion

A D D T O N E T W O R K



Connect+




111

E D U C A T I O N

Bachelor of Business

E D U C A T I O N

Bachelor of Business and Commerce

E X P E R I E N C E

2013 Digital Communications Coordinator, Mimco

2012 PR & Marketing Coordinator, Mimco

2010 Group PR Coordinator, Busbrand (Guess, Gap and Aldo Shoes)

2009 PR Intern, Haystac

2007 Brand Ambassador, Promotional Sampling (Coca Cola, Arnott’s, Extra, Red Rock Deli, Big M)

E X P E R I E N C E

2012 Global Retail Marketing, Department Manager, Forever 21

2012 Marketing Director, Napoleon Perdis Cosmetics

2008 Marketing Director, Australian Pharmaceutical Industries

2007 Marketing Manager - Acquisitions, BSkyB

2006 Relationship Marketing Coordinator, News International

2005 Marketing Coordinator - Loyalty, Australian Pharmaceutical Industries

P R O F I L E

ELLY HOGARTH Marketing Coordinator - Factorie and T-Bar, Cotton On GroupMelbourne Area, Australia | Apparel & Fashion

E D U C A T I O N


E X P E R I E N C E

2012 Marketing Coordinator - Factorie and T-Bar, Cotton On Group

2011 Marketing Coordinator, Edge Clothing

2010 National Marketing Coordinator, Colonial First State Global Asset Management

2010 Account Executive, The PR Edge

2008 Activate (PR)/Media Buying Coordinator, Carat

2007 National Marketing Assistant, Nine West Australia

MONASH UNIVERSITY

10 ST U DY AT MO NA S H

HUGH

FARQ

UHAR

KERS

HERK

A SIVA

KUMA

RAN

MICH

AEL H

IGGIN

BOTH

AMDA

VID D

E FAZ

IO

ANAT

OMY

OF A

COM

MERC

E ST

UDEN

TA

t Mon

ash,

we’r

e al

l abo

ut c

hoic

e. A

nd w

hile

stu

dent

s m

ay g

radu

ate

with

the

sam

e de

gree

, the

pat

h to

com

plet

ing

thei

r cou

rse

is a

lway

s un

ique

. Yo

ur u

nive

rsity

exp

erie

nce

is d

eter

min

ed b

y th

e ch

oice

s yo

u m

ake

alon

g th

e w

ay. H

ere

are

just

som

e of

the

choi

ces

five

Bach

elor

of C

omm

erce

stu

dent

s ha

ve m

ade.

MEIZH

U CH

EN

Mar

ketin

gH

uman

reso

urce

m

anag

emen

tFi

nanc

eFi

nanc

eEc

onom

ics

Acc

ount

ing

Acc

ount

ing

MAJO

RS

DEGR

EEDO

UBLE

DEG

REE

BACH

ELOR

OF

COMM

ERCE

BACH

ELOR

OF

LAWS

/ BA

CHEL

OR O

F CO

MMER

CE



Hon

ours

in C

omm

erce

Hon

ours

in E

cono

mic

sG

radu

ate

posi

tion

with

M

onde

lez

Inte

rnat

iona

lG

radu

ate

posi

tion

with

G

rant

Tho

rnto

n

Peer

s A

mba

ssad

ors

Lead

ers

(PA

L)

Lead

ersh

ip P

rogr

am

12-w

eek

inte

rnsh

ip w

ith th

e Fa

culty

of B

usin

ess

and

Econ

omic

s' M

arke

ting

Uni

t

Sum

mer

inte

rnsh

ip p

rogr

am a

t Fro

ntie

r Eco

nom

ics

Tw

o si

x-w

eek

inte

rnsh

ips

at M

acqu

arie

Ban

k

and

UB

S In

vest

men

ts

Am

ici I

talia

n Cl

ub

Sri L

anka

n C

ultu

ral C

lub

Mon

ash

Dan

ce S

port

Clu

b

Sri L

anka

n-In

dian

Clu

b

Busi

ness

and

Com

mer

ce S

tude

nt S

ocie

ty (B

CSS

)

Aus

tral

ia C

hina

You

th A

ssoc

iatio

n

Mon

ash

Fina

nce

Ass

ocia

tion

Gra

duat

e po

sitio

n w

ith

UB

S In

vest

men

ts

Six

mon

ths

exch

ange

in F

inla

nd a

t Aal

to U

nive

rsity

Four

wee

ks e

xcha

nge

at L

ondo

n Sc

hool

of

Eco

nom

ics

Facu

lty o

f Bus

ines

s an

d Ec

onom

ics

D

isci

plin

ary

Pane

l

Facu

lty E

duca

tion

Com

mitt

ee

Mon

ash

Ove

rsea

s Ex

chan

ge C

omm

ittee

CLUB

S &

SOCI

ETIES

INTE

RNSH

IPS

LEAD

ERSH

IP P

ROGR

AMS

COMM

ITTEE

S

EXTR

A-CU

RRIC

ULAR

AFTE

R UN

I

STUD

Y AB

ROAD

Wan

t to

know

mor

e abo

ut w

hat y

ou ca

n do

as p

art o

f you

r com

mer

ce d

egre

e?

The

n go

to m

onas

h.ed

u/bu

sine

ss-e

cono

mic

s/un

derg

radu

ate/

cour

ses

MONASH UNIVERSITY

12 ST U D E N T ST O R I E S

FLEXIBILITY & CHOICELETS TALK:STEPHANIE SHIELDBachelor of Business

(Current student)—

I chose to study a Bachelor of Business because I was developing a growing interest in the commercial world but at the same time I was very scared to lock myself in to a major. The core units in first year were a fantastic opportunity to gain a feel for some of the different areas available in the Bachelor of Business. Coming from a small country town, I also wanted a university that offered a diverse social environment. Campus life at Monash is truly amazing.

I joined the PAL program, the Business and Commerce Student Society (BCSS) and the Monash Sport Social Netball club. The PAL program has given me some great leadership and networking skills while the opportunity to be involved with the executive committee of the BCSS has given me a greater appreciation of how much hard work, dedication and effort goes on behind the scenes to organise many of the events at Monash.

PRASANNA NADARAJALINGAMBachelor of Commerce/Bachelor of Arts

(Current student)

—For me, the best part of the Bachelor of Commerce is the flexibility. I didn’t want to study just one thing – especially when I’m interested in so many things. Choosing a double degree was an obvious choice, but I also liked that the commerce degree offered units from all areas of business – and even from other faculties in the university – which enabled me to have a more well-rounded understanding of business.

ANDREW RIGGIOBachelor of Commerce (2011)

Marketing Analyst, National Australia Bank Limited (NAB)

—I chose the Bachelor of Commerce because I felt it would give me a sound understanding of the basic principles needed to succeed in the corporate world, and it also offered a range of study options and lots of majors to choose from. This choice and flexibility was important to me, because it’s very common to be a little unsure about what you want to do right out of high school. I was able to take my time and study different areas across the core units before I had to choose.

It’s common to be a little unsure about what you want to do.

I wanted a course that would provide me with a diverse range of skills. I like that the Bachelor of Commerce gives you practical job-related skills, as well as analytical and communication skills that are essential to be successful in business.



MAI-LIEN VOBachelor of Business

(Current student) —

I knew I wanted to study marketing and business when I left high school, but I also wanted to have some ‘creative subjects’. The ability to choose some electives from the Faculty of Art, Design and Architecture along with my business degree was the reason I chose to study at Monash. I also loved the variety of marketing units on offer, and I didn’t find any other university that could match Monash in this respect. For me, the best part of being a Monash student was the number of options on offer. I applied for

an internship with DDB – a huge advertising agency – which was a fantastic learning experience. I also joined the Monash Marketing Students’ Society (MMSS), and eventually became secretary and then president. Being part of the MMSS was a truly rewarding experience. Not only did I learn more about the marketing industry, I also made some great professional and personal contacts, and some amazing friends.

BONNIE JACKSBachelor of Business (2008)

Digital Sales Account Manager, Hardie Grant Media

—When I finished high school, I wasn’t sure exactly what I wanted to do. I was interested in working in a creative field, and even considered graphic design or furniture design, but I thought a general business degree would be a great basis for a future job. I wanted a degree that offered a lot of choices and didn’t lock me into a particular area straight away. The Bachelor of Business was great this way, I waited until second year to choose my major (marketing) and then I still had a lot of choice when it came to marketing subjects and electives.

VIKNESH KUMANANBachelor of Business


My favourite part of the Bachelor of Business degree at Monash University’s Peninsula campus is that it’s taught in problem-based learning mode. This method of learning has allowed me to approach my units in a more practical way – where each new topic is treated as a problem – and has given me the confidence and skills to find the solutions to those problems. This has allowed me to work with real clients and businesses, which I think makes me ready for the working world.

DAVID DE FAZIOBachelor of Commerce


The best part about my Monash degree is the flexibility it offers. Unlike some of my fellow students who had decided on their majors from the outset, I didn’t choose my major until the second year of my degree. This was fantastic, because it allowed me to trial all the core units and figure out what I enjoyed before I had to make a decision. I also liked that my study options weren’t restricted to the Faculty of Business and Economics – that you can study electives and units from arts, education, psychology, science or any other faculty gives you many more choices and the opportunity to explore all your interests.

I wanted to study at an institution that had a strong global reputation, and Monash offers that.

MONASH UNIVERSITY

14 AC C O U N T I N G & F I NA N C E



Accountants are sometimes stereotyped as people who crunch numbers all day long, but, in reality, a career in accounting is much more dynamic and varied than many people think. Accounting today is a blend of analysis, problem-solving and detective work; to do the job right you have to be able to communicate effectively and deal with people, not just numbers.

To be successful in your career you also have to understand the business environment and how it works. As an accountant, you probably won’t just be in the back room with a computer and a calculator; you’ll be expected to work with other accountants and managers – or possibly even the Chief Financial Officer – on a range of projects covering business analysis, commercial advice and strategic leadership.

“Accountants are the people who bring the numbers to life,” says Professor Axel Schulz, Head of the Department of Accounting at Monash University. “The numbers tell a story, and it’s the accountant’s job to share that story with the business. Accountants need to be able to interpret the data they have and explain it to the CEO, the marketing manager or the business manager.

“Accounting is a diverse field ranging from financial statement preparation and auditing to costing and planning, and control.

“Each area requires different skills. For example, preparing a budget for the general manager requires an

understanding of how resources are managed in the organisation, while auditing can be a lot like detective work where financial records need to be scrutinised to prevent mismanagement of money or fraud.”

It’s an industry with a lot of future growth, ensuring a variety of interesting and challenging roles for graduates into the future.

The Australian Government Job Outlook is predicting high growth in accounting jobs in the near future, with 21,400 new accounting jobs in the years to 2017. And salaries are also expected to remain strong with Department of Employment figures showing full-time accountants are earning an average of $72,800 per annum.

IT’S NOT JUST A NUMBERS GAME

A degree in accounting is not just for accountants. The ability to understand and interpret financial information is essential for business decision-making. Accounting is vital to the success of every business in

every industry, and professionals with accounting skills are in high demand – which means an accounting degree is a great basis for a range of career options.

Th ere are so many choices for studying accoun ting at Monash, including six differen t degree options. If you wan t to know more, ch eck out page 58.

MONASH UNIVERSITY


CRIME FIGHTER

Solve financial crime such as fraud, sanctions, breaches, money laundering violations and other financial crimes perpetuated by companies and individuals. This field includes divisions such as cyber threats, data integrity and forensics. Work for private firms or organisations such as ASIC, Federal Police or even the FBI!

PROGRAMMER

Accounting software developers combine a strong computer programming skill set with accounting training in order to create and maintain software that meets the unique needs of accountants and other finance professionals. They make data management and analysis easier for everyone, from individual consumers using home accounting software programs to CPAs working for large corporations.

ENVIRONMENTAL WARRIOR

Environmental accountants help businesses become eco-friendly and profitable. They help companies save money, incorporate “green” technology, and comply with environmental regulations. Environmental accountants who work for large corporations may help them budget for the costs of pollution management and other ecological issues, while those who work for government agencies investigate and report on how environmental resources are being managed on a national scale.

SHOW RUNNER

Be the person behind the latest movie working as a corporate entertainment accountant. This could include working for specialty accounting firms or directly for movie studios and production companies, handling financial matters like production budgets and royalty distributions, or managing the finances for movie stars and recording artists.

SPORTS GURU

If you’ve got a passion for sports, you can channel your accounting skills into a job handling budgets and payroll for a professional sports team. Like other organisations, sports teams – and sports-related companies – require fully-fledged finance departments, complete with controllers, analysts and accountants.

ACCOUNTING

01001 00111101

110100010100010100011011110100110

Quirky Career Paths Not every accountant or finance professional works in a big firm or typical job. In fact many areas of accounting, and the related fields of banking and finance, can lead you down a quirky career path. Here are some left-of-centre options.



CORPORATE HOTSHOT

Corporate bankers help clients build their businesses by providing strategic advice on financial products. These types of roles include managing mergers and acquisitions, structured finance and commercial real estate investments.

SUPER HERO

Take super to the next level as a fund manager. It’s a superannuation fund manager’s job to make money. They are responsible for investing over $1 trillion of Australians’ retirement savings. Superannuation is a complex and dynamic environment and one of our fastest growing industries. Superannuation ‘heroes’ are trusted advisers who provide practical advice on how their clients can best invest their money for retirement.

PRIVATE EYE

Private banking in Australia is one of the most rapidly developing areas in the financial services industry. Private bankers – often called wealth managers – manage the complex financial arrangements of people who have extreme wealth (generally defined as people who own financial assets over $1 million). They provide comprehensive financial support for their clients, which may cover areas like banking, investments, financial planning, estate planning and risk insurance.

SMOOTH OPERATOR

Be responsible for smoothing the path for financial transactions as stockbroker or trader. This profession is for those who can connect with people, understand their emotions and possess powerful convincing skills and have great selling skills. A stockbroker assists clients in buying and selling stocks, and provides financial advice to their clients to guide them in the right direction and make the most out of their investments.

RISKY BUSINESS

Operating in any financial market is fraught with risk, making risk management one of the most important divisions in the successful functioning of a bank. Risk management professionals in the banking sector look at possible risks, such as market crashes, IT failure, liquidity shortages, changes in legislation, and even terrorist attacks, and how these will affect the bank.

BANKING AND FINANCE

MONASH UNIVERSITY

18 E C O N OM I C S


19 E C O N OM I C S

Economics is a key area of study that underpins many other areas of business – making it a fantastic subject to study as part of a business or commerce degree. There are so many different areas of economics to

study – sport, health, development, education, media, technology and politics – and it opens up some amazing career opportunities. It’s not necessary to have studied economics in high school to pick it up at university, so why not find out more about this exciting field and what you can study in an economics major at Monash.

Want to see how economics is at work in your own life? Then consider this: Have you bought something online from overseas recently? Why? Was it cheaper than buying it here? If you answered yes, this is an example of economics at work.

One reason why the goods you bought were cheaper may have been because of the stronger value of the Aussie dollar relative to other currencies. It was also GST-free unless it cost more than $1000, so, you avoided paying tax. But your decision didn’t just impact your wallet – it impacted on the whole Australian economy. Not paying tax means less GST revenue is available for government spending on hospitals or education. Buying overseas also means less profit for Australian retailers, which means fewer retailers, less choice and less competition. If sales are down it could also impact on jobs – not just in retail stores, but also in product design, manufacturing and shipping.

These are just some of the practical issues economists face every day.

Economists focus on the issues across all aspects of our lives – including sports, health, the environment, the workforce and labour, international development, finance and money.

In its most basic form, economics is about how our scarce resources

are allocated and how production, consumption and distribution of these resources are influenced by our decisions. Economists study the – often unpredictable and constantly changing – behaviour of individuals and groups in society, making economics a ‘social science’.

They also monitor economic trends, and develop forecasts to see how things like energy costs, inflation, interest rates, and the price of food, rents, or employment rates may change in the future.

Economics has two key branches of study – microeconomics and macroeconomics – which take different perspectives on the economy. Microeconomics examines the way in which particular businesses and industries function and the things that impact and influence them, while macroeconomics looks at the big picture; the economy as a whole and decisions that influence it.

We have plen ty of ways you can study economics at Monash . Ch eck out page 58 for all your options.

IN ECONOMIC TERMS...

MONASH UNIVERSITY

20 E C O N OM I C S

MONASH ECONOMISTS

AT WORK

Sport

International Development

Labour & Work

Politics and Government

MONASH ECONOMICS AT WORK


21 E C O N OM I C S

Health, Welfare & Behaviour

Environment

Technology

Education

Monash economists are working on some of the world’s biggest questions. Whether in the field or in a lab, our economists gather data to help answer a wide range of important questions that help

governments and companies make decisions and develop policies. These are just some of the research questions they are working on right now.

MONASH ECONOMICS AT WORK

MONASH UNIVERSITY

22 E C O N OM I C S

ECO+ =


23 E C O N OM I C S

CAREERS IN ECONOMICS: THE POSSIBILITIES ARE ENDLESS

Economics leads to a wide range of career options. Depending on your personal interests, or other subjects you study, you might work as an economist in a particular area –

such as sustainability or finance, or you might use your economic skills to forge a career in another area of business.

LAW + ECONOMICS = Commercial lawyer, Labour economist, Criminologist

ACCOUNTING + ECONOMICS = Business analyst, Chief financial officer, Financial adviser

PSYCHOLOGY + ECONOMICS = Behavioural economist, Corporate psychologist, HR analyst, Organisational psychologist, Change manager, Recruitment consultant

HISTORY + ECONOMICS = Economic historian

POLITICS & PHILOSOPHY + ECONOMICS = Politician, Lobbyist, Political adviser

SOCIOLOGY + ECONOMICS = Social researcher, Community development worker, Behavioural economist, Criminologist

SUSTAINABILITY + ECONOMICS = Sustainability consultant, Researcher, Environmental policy adviser, Climate change adviser

ECONOMETRICS + ECONOMICS = Economist, Statistician, Econometrician, Economic forecaster, Futurist

BUSINESS + ECONOMICS = Management consultant, Business manager

AGRICULTURAL SCIENCE + ECONOMICS = Agricultural economist

SPORT + ECONOMICS = Sport management executive, Event manager, Sport operations manager

MEDIA STUDIES + ECONOMICS = Foreign affairs writer, Media consultant, Economic journalist

CREATIVE ARTS + ECONOMICS = Gallery manager, Auctioneer, Valuer

MARKETING + ECONOMICS = Public relations adviser, Brand manager, Business manager

EDUCATION + ECONOMICS = Economics teacher, Social researcher, Educational consultant

FINANCE + ECONOMICS = Financial economist, Financial analyst, Business analyst

MONASH UNIVERSITY

24 E C O N OM I C S

“In order to understand how a business or an industry functions or how global and domestic issues influence our economy and how we live, you need to understand economics. Economics is a vital area of study that can lead to important and dynamic career opportunities in both the private and public sectors.

At a time when the world of business is changing rapidly, economists play a major role in researching, analysing and strategising in new and existing situations, both within industry and government. Their insights contribute significantly to decision-making.

I have seen first-hand the contribution economists make to our country and our daily life. My previous experience in the government sector and my industry-related work in Australia and overseas

leads me to the strong conclusion that individuals with economics qualifications are well-placed to gain meaningful, ongoing employment.”

WHAT DO EMPLOYERS HAVE TO SAY?

Ms Elizabeth Proust AOChairman of Nestlé AustraliaChairman of the Bank of MelbourneFormerly Managing Director of Esanda, Secretary of the Department of Premier and Cabinet (Victoria) and Chief Executive Officer of the City of Melbourne

What traits do employers look for in economic graduates?

- Logical and analytical thinking

- Curiosity

- An interest in why people behave the way they do

- Ability to use mathematics as a tool

- An honours degree

- An interest in current affairs and world events

“ Economics is a vital area of study that can lead to important and dynamic career opportunities in both the private and public sector.”


25 E C O N OM I C S

STUDYING ECONOMICS AT MONASH

You can study a major in economics in one of our comprehensive degrees (which you can also combine as a double degree with another area such as arts, law or journalism, to name a few) or you can focus on different areas of economics by studying one of our specialist focused economics degrees.

Keep in mind, if you’re interested in working as an economist, many key organisations (including government departments) only employ graduates with honours degrees. Starting salaries for honours graduates are also generally higher. Monash also offers pathways for economics students who are interested in pursuing a research or academic career in economics.

If you’re interested in studying economics, you are spoiled for choice at Monash. We have five

options for you, and each course has its own features and benefits.

#1 Bachelor of Economics

#2 Bachelor of Economics Advanced with Honours

#3 Bachelor of Business with a major in economics

#4 Bachelor of Commerce with a major in economics

#5 Bachelor of Business Administration with a major in finance and economics

The economics of pop culture

Want to learn more about economics? All of these popular movies reference economic theory or focus on economic issues.

- Red Obsession

- Charlie and the Chocolate Factory

- An Inconvenient Truth

- The Bank

- The Corporation

- Wall Street

- Wall Street: Money Never Sleeps

- Margin Call

- Trading Places

- You’ve Got Mail

- The Economics of Happiness

- A Beautiful Mind

Want to learn more about careers in Economics? Then go to monash.edu/business-economics/undergraduate/majors/economics

MONASH UNIVERSITY


INTERNSHIPSLETS TALK:

HUGH FARQUHARBachelor of Laws/Bachelor of Commerce


I’ve always wanted a career in finance, and studying a Bachelor of Commerce has opened the doors to a future career in investment banking. Being able to choose my own major was a hugely important part of choosing this course, as it’s allowed me to tailor my study options to the subjects that suit my personal interests. I’ve always felt that students get the best results from their studies when they are studying subjects they enjoy. As part of my major I completed two three-month internships, the first with Macquarie Capital and the second with UBS Investments. These internships gave me the chance to put the financial theories I was studying into real-life situations. I was given quite a bit of responsibility, which has developed my work skills and business acumen. My internship with UBS also led to a full-time job offer, which I'll take up when I graduate.

CATHRYN MANNBachelor of Accounting (2012)

International Assignment Solutions Tax Consultant, PricewaterhouseCoopers —

When I first enrolled at Monash, I knew I had a passion for accounting, but I wasn’t really sure where it would take me. I chose the Bachelor of Accounting because of its industry-based learning component. The fact that you could integrate your studies with work experience was a big plus for me and it was this practical work experience that has shaped my career. My industry placements helped me recognise that I really enjoyed tax

accounting, and now I’m specialising in this area. I did my first work placement at Amcor, who extended my placement for five weeks so I could complete the project I was working on. My second placement was at PricewaterhouseCoopers (PwC). At the end of my 12 weeks, they offered me a part-time job. I worked for PwC throughout my third year of uni and accepted a full-time position with them before I graduated.

RANDALL BROMWICHBachelor of Commerce


I think all students should complete an internship if they can. My internship – in the finance department of IBM – showed me that I had chosen the right field, and the right major (finance). It gave me a taste of what life would be like after graduation and it really improved my grades and my interest in studying, because I could see how the theory could be used in a practical environment. The IBM internship also made me realise that IT skills would be useful for my future, so I used some of the electives from the commerce degree to complete units from the Faculty of Information Technology. This is something that I never would have considered doing before my internship, and it’s given me some fantastic skills that I use not only in my day-to-day life but also in my finance studies.

My internship with UBS has led to a full-time job opportunity. When I graduate, I'll join UBS in their Metals and Mining Corporate Advisory team.



MRUNAL CHAVANBachelor of Accounting


I chose Monash because it was the only university that offered an industry-based learning (IBL) program, which was also a scholarship program. The IBL unit in the Bachelor of Accounting is run with industry partners, including some of the top accounting firms in the country, so I knew that I would come out with really strong skills and, more importantly, a job. My two placements as part of the industry program, at Deloitte and PricewaterhouseCoopers, helped me realise how different and varied the accounting field is. I gained invaluable experience and a deeper understanding of my studies. I was also part of the faculty’s Accounting and Finance Leadership Program, which was an invaluable opportunity to network with representatives from various firms.

JONATHAN ROCHWERGERBachelor of Commerce/ Bachelor of Arts (2009)

Analyst, Department of Treasury and Finance —

For me, undertaking an internship was really useful in deciding what area I wanted to work in when I graduated. In the summer before my final year I took up an internship at The Allen Consulting Group, and I had my first taste of how my economic studies could be used in a professional sense. It was through my internship that I realised that I was more interested in the social policy side of economics, so I decided to pursue a career in the public service when I graduated.

KERSHERKA SIVAKUMARANBachelor of Commerce


The highlight of my Monash experience has definitely been completing an industry placement at Frontier Economics. This experience shaped my understanding of economic application in industry and has given me some practical experience for my CV. Frontier Economics gave me the opportunity to work on real projects with the flexibility to undertake my own methodology for each task. I walked away from the placement with a great experience, but also invaluable skills, knowledge and great contacts for my future career as an economist.

MICHAEL HIGGINBOTHAMBachelor of Commerce


As part of my commerce degree I completed a full-time internship with Monash University. I worked in the marketing services team in the Faculty of Business and Economics for a whole semester, working across a number of marketing projects. The experience was invaluable – I was able to put the skills from my marketing major to use and I was able to work alongside, and network with, marketing professionals. The business world is really competitive and you need to be able to show potential employers that you’ve been involved outside of the lecture theatres – an internship is a great way to do this, while also getting that practical experience you need to hit the ground running when you start working.

The best thing about being a student at Monash is the people you meet. Three years is a short time, but in that time I've met so many people who will no doubt be useful connections in the future.

The Bachelor of Accounting is run in partnership with the Big 4 accounting firms and other industry partners.

MONASH UNIVERSITY

28 AC T UA R I A L ST U D I E S



It’s become a risky world. The Global Financial Crisis (GFC) highlighted the importance of managing risk to prevent disaster and, six years on, the effects are still being felt as markets find their feet again. This is why the

world needs more actuaries. While it seems that risk management is a new idea, actuaries have been in the business of managing risk for over 200 years, since the actuarial profession was established in 1848. But the GFC has brought a new and different focus to the world of risk management, which has led to increasing opportunities for Australian actuaries.

Organisations cannot operate risk-free – they need to ensure they plan for the future and protect themselves against unforeseen circumstances. While insurance companies have had a long tradition of managing risks, since 2008 banks and other financial institutions have become much more aware and focused on ways to improve risk management. There has also been a ripple effect on other large corporations who now see risk management as a key factor to be successful in business.

So what is the role of an actuary, and why is it so important? According to Dr Colin O’Hare, a senior lecturer in actuarial studies for the Department of Econometrics and Business Statistics at Monash University, actuaries are responsible for identifying, analysing and assessing risk.

“They determine the likelihood of risk to ensure an organisation’s safeguards,” he says. “They manage and advise on the potential consequences of risk. This is done by creating mathematical models using past data and the actuary’s own knowledge and experience. These models are used to generate future scenarios in order to make an educated guess on how likely and how severe future risks may be.”

Dr O’Hare says the profession requires people with strong mathematical skills,

however interpersonal and communication skills have become increasingly important.

“Actuarial work is a blend of high-level modelling, mathematics and statistics, and excellent verbal, presentation and written skills. This combination is essential in order for actuaries to be able to communicate results and influence decisions within a business context.”

Actuaries analyse and manage the financial consequences for all types of risky events – the risk of natural hazards, sickness or death or financial risks. From the price of insurance to the marketing of products, actuaries are involved in analysing the available data and influencing the decisions made, be they on pricing, reserving, or product development. While they typically work in consulting, banking, superannuation, stockbroking, insurance and investment fields, actuaries also work in developing fields such as environmental studies, climate change and genetics. Actuaries have also found careers in areas such as consumer behaviour analysis – particularly with the explosion of customer loyalty schemes, such as Frequent Flyer schemes and retail loyalty cards. Loyalty schemes are underpinned by a mass of data about purchasing habits and actuaries have been at the forefront of ensuring consumers are targeted at appropriate points

WHAT IS ACTUARIAL STUDIES?

Find out more about undertaking an actuarial studies major at Monash on page 58.

MONASH UNIVERSITY


“ Actuarial work is a blend of high-level modelling, mathematics and statistics, and excellent verbal, presentation and written skills. This combination is essential in order for actuaries to be able to communicate results and influence decisions within a business context.”

such as what they are most likely to buy on a Saturday morning or what they will most likely purchase in a certain period.

This year will mark the fifth year of teaching actuarial studies at Monash University. It can be studied as part of the Bachelor of Commerce, or the Bachelor of Economics and focuses on mathematics, statistics, demography, finance and economics.

Dr O’Hare says the program is well-equipped to prepare students for the challenges they will face as actuaries in Australia and throughout the world.

“Our courses provide students with the statistical, problem-solving, reasoning and business skills they need to excel as actuaries. The course is also accredited by the professional body for actuaries in Australia, the Institute of Actuaries of Australia, for part I and part II of the actuarial qualification process. This means that students who enrol in our course can be a significant way through the examination to qualify as an actuary when they graduate.”



MONASH UNIVERSITY




KIYARA MUNAWEERA Bachelor of Commerce

Research Analyst – Business Intelligence Transport Accident Commission (TAC)

—Kiyara Munaweera has always had a passion for maths, and it was her high school careers teacher who showed her how a love of maths could result in a business career.

“Actuarial studies included units in statistics and mathematics, which have always been of interest to me, but they also combined principles of finance and economics, which are important aspects of business,” she says.

“I chose to major in actuarial studies because I knew it would be a career where I could make a positive impact and solve problems across different industries.”

However, a car accident in her second year nearly derailed her career goals.

“I had to have several surgeries during my recovery, and it was the support of the fantastic teaching staff that helped me get through the course – which can be quite challenging. It was this experience that also makes my work with the TAC more meaningful.”

RUVINDA NANAYAKKARA Bachelor of Commerce

Actuarial Analyst Bendzulla Actuarial Pty Ltd

—Two years after graduating with a Bachelor of Commerce majoring in actuarial studies, Ruvinda Nanayakkara has no regrets about his decision to study at Monash and pursue a career as an actuary.

“When I was considering my options for tertiary education most people told me not to study actuarial studies. It is considered a very tough profession because it includes a combination of mathematics, econometrics, economics, finance, accounting and statistics,” says Ruvinda.

“However, I was fascinated by this and took it as a challenge. Also, compared to other professions there is only a limited number of actuaries in the world. Being a qualified actuary means you are a part of a small group of highly specialised individuals.”

And no two days are the same for Ruvinda, now that he is an actuarial analyst.

“There is nothing mundane about the work I do and even the simplest task offers a challenge. Some of the tasks I do on a day-to-day basis include preparing documentation for insurance funds, valuations, economic loss calculations and preparing valuations for long service leave and workers compensation. This keeps me interested and encourages me to improve myself.”

FIONA TSANG Bachelor of Commerce

Actuarial Analyst Mercer

—While Fiona has always had an interest in maths, it wasn’t the only reason she chose a career as an actuarial analyst.

“I wanted a career that was practical and also a well-respected profession that provided lots of growth and opportunity,” she says.

“It may start out as a tough area to study, but if you persist it will be worth it. Actuaries are incredibly well-respected around the world and the skills you learn as an actuary can be applied to many different fields. The working hours are steady and it was ranked as the best job in the US for 2013.”

“A typical day for me as an actuarial analyst is to complete calculations and prepare reports for our senior team and the signing actuary. Depending on the piece of work, calculations can take as little as half an hour, or progress over the course of a few weeks before the advice is finalised and submitted to our clients. I find myself constantly learning new things not only because I am being exposed to a wider variety of work but by learning from actuaries and more experienced analysts around me.”

ACTUARIES IN ACTION

“ I wanted a career that was practical and was also a well-respected profession that provided lots of growth and opportunity.”

“ ...being a qualified actuary means I am part of a small group of highly specialised individuals.”

“ ...I knew it would be a career where I could make a positive impact and solve problems across different industries.”

34 C A R E E R S

Where can a degree in business, commerce or economics take you? For these former Monash students,

a commerce or economics degree was the first step to long and successful careers, both in Australia and overseas.

CLIMBING THE CORPORATE LADDER

DAVID CHARLES

1961 Enrolled in a Bachelor of Economics at Monash University

1967 Received a travelling scholarship to undertake a PhD in Economics at the London School of Economics

1970 Worked in Geneva with the United Nations Conference on Trade and Development

1972 Recruited to the Tariff Board

1979 Appointed Head of Task Force, Crawford Report Structural Adjustment

1982 Appointed Deputy Secretary, Department of Employment and Industry Relations

1982 Appointed First Assistant Secretary, Communications Division, Department of Prime Minister and Cabinet

1985 Appointed Secretary of the Department of Industry and Commerce

1987 Appointed Director, Australian Trade Commission

1987 Became a board member of the Melbourne Business School.

1990 Appointed Australian Consul General in Berlin and Special Trade Representative in Central and Eastern Europe

1993 Became Director of the Allen Consulting Group

2006 Founded Insight Economics

2006 Partnered with Deloitte to form Deloitte Insight Economics

2009 Re-started Insight Economics

2010 Appointed Chair of the Advanced Manufacturing Cooperative Research Centre

2010 Became a member of Advisory Committee of the Australian Astronomical Observatory

2010 Appointed President of the Australian German Association

MONASH UNIVERSITY

35 C A R E E R S

DID YOU KNOW?

Did you know these successful Australian business people have also completed their undergraduate degrees in business, commerce or economics at Monash?

Ian McFarlane AC Economist and former Governor of the Reserve Bank of Australia

Andrew Mohl Director of the Commonwealth Bank

Russel Howcroft Executive General Manager of Network Ten

Brett Gosper CEO of the International Rugby Board and Managing Director of the Rugby World Cup

Tracey Fellows Executive General Manager, Communications at Australia Post

ALLISON JONES

1996 Graduated with a Bachelor of Commerce from Monash University

1997 Joined JD MacDonald Engineering as a graduate in the position of Internal Sales Manager

1999 Appointed Senior Business Development Officer at City of Casey

2003 Moved to the Victorian Government Department of Innovation, Industry & Regional Development as an Economic Policy Adviser Economic Policy & Government Services

2004 Appointed a Senior Policy Adviser for Regional Development Victoria

2005 Moved to Latrobe City Council to become the Manager, Economic Development

2007 Appointed Project Manager, Latrobe City Council

2008 Promoted to General Manager Economic Sustainability at Latrobe City Council

2011 Became Acting Chief Executive Officer at Latrobe City Council (secondment)

BERNA WAKE

1983 Graduated with a Bachelor of Economics from Monash University

1983 Met a representative of Unilever Australia at a Monash event and joined Unilever as a graduate. Between 1983-1999 held the roles of: - Marketing Trainee - Brand Manager - Senior Brand Manager - Marketing Manager - Marketing Director

2003 Moved overseas to take a role as General Manager Foods at Unilever Malaysia

2006 Appointed Managing Director Foods, Unilever Indonesia

2007 Promoted to Vice President Marketing Operations at Unilever Asia Private Limited

2008 Became Vice-President Unilever Marketing Excellence for the AAC region (Asia, Africa, Middle East Turkey and Central Europe)

IAN MAYER

1979 Graduated with a Bachelor of Economics from Monash University

1994 Appointed Chief Executive Officer, Australian Marketing Institute

1996 Became the Victorian Divisional Director, CPA Australia

2001 Promoted to Marketing Director, CPA Australia

2005 Appointed General Manager Reputation and Standards, CPA Australia

2008 Moved to Australian Physiotherapy Association to take up the role of Chief Executive Officer


MONASH UNIVERSITY


MONASH UNIVERSITY

38 C A R E E R S


39 C A R E E R S

A business or commerce degree leads to a range of careers across the professional sector, including accounting, finance, marketing, strategy

and much more. But it also offers up a range of career options in fields you may never have even heard of – let alone considered. Here are two examples of growing areas of business you can study at Monash University.

I’VE NEVER HEARD OF THAT MAJOR…

BUSINESS LAW* Law is a critical aspect of all areas of business, and business decision-makers need to have an awareness of the law, regardless of their role. If you’re interested in the way the law operates, but you don’t want to be a lawyer, then business law could be the field for you.

Business law influences commercial transactions and marketing processes, and it governs those engaged in companies and partnerships. Business law is also at the frontier of developments in e-commerce as established rules are adapted to cover activities in cyber space.

SO WHAT IS IT?Professionals who have studied business law deal with the business implications of national and state laws relating to areas such as contracts, trade practices, employment, insurance, wills and estate planning, and consumer and creditor protection, as well as real estate, tax, and the environment. Potential employment opportunities could include a paralegal administrator in a law firm, compliance officer, human resource officer, adviser for a government regulatory body or a business analyst.

*This major does not qualify you to work as a barrister or solicitor.

ECONOMETRICS AND BUSINESS STATISTICS If you’re interested in mathematics, you might be considering a degree in engineering or science. However, did you know that you can put your maths skills to good use in a business environment, working as an econometrician or statistician?

Mathematicians are fast becoming the new brains behind the increasingly complex world of commerce, and working in the field of econometrics and business statistics provides an ideal way of turning your mathematical ability into a business career.

SO WHAT IS IT?Statistics is the most widely used quantitative method in business. It is often applied to sales forecasting, quality control and market research. Data used in business includes population censuses, opinion polls, consumer databases, sales and demand data. An econometrician or statistician uses their knowledge of economic theory and statistical methods to help determine if a collection of observed data values is consistent with specific hypotheses from economic theory. Once they’ve established a theoretical model, the econometrician will estimate the values of economic variables of interest, and then often quantify the impact of proposed policy changes on economic outcomes. These skills are highly valued when, for example, a company is looking for productivity improvements, or wants to identify market trends. In a competitive business environment rich with data, a statistician can provide empirical support for decisions and provide the organisation with a competitive edge. Want to learn more about the different areas of business and commerce?

Go to monash.edu/business-economics/undergraduate/majors

MONASH UNIVERSITY


DOUBLE DEGREE

A double degree allows you to study for two degrees at the same time. You will graduate with two different qualifications, giving you more career flexibility and opportunities. A standard bachelor degree is three years, and in most cases you can graduate from a double degree in four years. That’s double the degree without double the time.

Monash has one of the most comprehensive double degree programs in Australia, offering combined degrees across all 10 faculties.

Interested in arts and business? We have a double for that! Commerce and law? We’ve got you covered. Combining your Bachelor of Business, Bachelor of Commerce or Bachelor of Economics with another degree opens up a whole world of

possibilities – you can study a language, a second profession, two completely different areas of business, or other complementary areas you’re interested in, such as politics, geography, music, education and more.

SO HOW DOES IT WORK? All Monash courses include compulsory units (which you must do) and electives, which you can choose based on your interests. In a double degree, your compulsory units in one degree form the electives from the other, and vice versa. So you’ll study the compulsory units to complete each course, (four units per semester), and the units you study will count towards both degrees.

CORE

CORE

MAJOR

MAJOR

DEGREE 1

SINGLE DEGREE CORE MAJOR ELECTIVESDEGREE 1

DEGREE 2

Everybody knows one plus one equals two. But, when you’re talking

about a double degree at Monash, the maths is even simpler.

ELECTIVES



Choose your combination

The Faculty of Business and Economics offers double degree combinations with every other faculty across Monash University, which means you’re spoilt for choice when it comes to double degrees.

Whether you’re interested in arts, engineering, law, science or medicine we have a double combination that will match your interests and career goals.

“ A double degree allows you to study for two degrees at the same time. You will graduate with two different qualifications, giving you more career flexibility and opportunities.”

BUSINESS DEGREE

DO

UB

LE W

ITH




Aerospace engineering (Honours) •Arts • • •Arts (Global) •Biomedical science •Business (Accounting) •Business (Banking and Finance) •Business (Management) •Business (Marketing) •Business Information systems •Commerce •Education (Secondary) •Economics •Engineering (Honours) •Environmental engineering (Honours) •Health Science •Journalism • •Laws •Music •Pharmacy •Science •Visual arts •

For more information on en try requiremen ts and leng th of study for double degrees to go page 60.

MONASH UNIVERSITY


DOUBLE DEGREESLETS TALK:

BRIGITTE BAGHDIKIANBachelor of Arts/ Bachelor of Business

(2011)Commercial Analyst, BP Australia

—I chose to study a Bachelor of Arts/Bachelor of Business double as it was the perfect course to match my interests and career ambitions. The arts component allowed me to further develop my interest in humanities and social studies, while the marketing major in my business degree gave me the opportunity to strengthen my business acumen and passion for marketing. Plus, the two degrees really complement each other. For example, as part of my Bachelor of Arts, I majored in behavioural studies which directly supported what I learnt in marketing about consumer behaviour and market research. I am currently undertaking my second year-long rotation in the BP Australia graduate program. I applied for the BP graduate program while still at university, and was lucky enough to secure a graduate position.

PRASANNA NADARAJALINGAMBachelor of Commerce/Bachelor of Arts


For me, the best part of the Bachelor of Commerce is the flexibility. I didn’t just want to study one thing – especially when I’m interested in so many things. Choosing a double degree was an obvious choice, but I also liked that the commerce degree offered units from all areas of business – and even from other faculties in the university – which enabled me to have a more well-rounded understanding of business. I love that Monash offers an arts/commerce double; I think the degrees strongly complement each other. I also liked the fact that you could choose to work in a student society, have an internship, go on student exchange, and participate in clubs and societies. I’m not sure other universities offer quite so many options to students.

MARIE ANKENBRANDBachelor of Arts (Global)/Bachelor of

Commerce and a Diploma of Languages (Current student)

—Choosing a double degree with the addition of a Diploma of Languages is a tough workload, but it really has been worth it. I chose Monash because it is the only university that offers global arts with commerce as a double degree, and it has opened up so many opportunities. I’m studying majors in international commerce, international studies and Spanish, which is a really fantastic combination that gives me skills in the economic and commercial side of international business through the commerce degree, as well as the diplomatic and political side of it through global arts.

JAMES CHAPLINBachelor of Commerce/Bachelor of

Economics (Current student)

—The main reason I chose to study at Monash, was because of its double degree program. Studying a double degree gives you the opportunity to undertake a triple major – I’m studying marketing, economics and econometrics and business statistics – which will be invaluable when I enter the workforce. Having three diverse specialisations under my belt gives me a unique edge. In industry, problems can rarely be solved through one field of thought. Studying three majors means I have the skills to approach issues from many different angles and ensure the problem is resolved, which will be appealing to employers.

Being able to study three majors is one of the many benefits of studying a double degree.



JACQUELINE BASTIANIBachelor of Laws/ Bachelor of Commerce (2008)

Senior Economist, Department of Treasury and Finance—

When I finished high school and started my degree, I planned to work as a solicitor and later a barrister. However, during my time at uni, I began to realise that I found the economics and taxation law subjects more interesting and I shifted my focus from law to economics. While I was at uni I used my commerce electives to experience different areas of economics, and I used my law electives to study related subjects such as taxation law and insolvency. The commerce degree provided both a well-rounded base and the opportunity to specialise in an area of particular interest, which for me was economics. Both my commerce degree, with a major in economics, and my law degree are very important in my current role. My economics background provides a framework to analyse an existing tax, assess the need for reform, and evaluate the impact of options, while my law background is of great assistance in interpreting legislation and drafting instructions for legislative reform.

JACLYN ROTMANBachelor of Commerce/Bachelor of Engineering


In Year 11 and 12, I loved accounting and knew I wanted to study commerce at uni. My careers counsellor suggested that a commerce/engineering double degree was a combination that would open up a lot of opportunity with employers. The engineering aspect has the benefit of analysis and critical thinking that complements my commerce degree. The best part about studying this double at Monash was that both degrees have a general first year, which allowed me to decide which majors I would like to do after having sampled a variety of the subjects on offer. Studying a double degree is beneficial beyond measure. It has allowed me to gain in-depth knowledge in two very different fields, while also having the advantage of the two degrees complementing each other in certain areas.

ELLIE HARVEYBachelor of Commerce/ Bachelor of Economics


I chose my course combination because it offered me a broader scope of work when completing my degree, and it will make me more employable. Commerce and economics are a great match, and as part of my degree I could also study majors in marketing and finance, which opens up so many potential career options. Before I picked my course, I researched job positions at the Reserve Bank of Australia and many of their employees had economics degrees, so if I wanted to work at the RBA or Goldman Sachs, this double makes it possible. I also studied economics in Year 12 and loved it, and Monash was the only university to allow me to study both degrees together.

I didn't consider applying to any other university, because I knew I wanted to study a double degree at Monash.

I would definitely recommend the commerce/engineering double to any student whose interests lie in both science/maths and business. It provides analytical and problem-solving skills as well as a deep understanding of commercial matters, and is a combination that employers seem to love.

MONASH UNIVERSITY

44 H UM A N R E S O U RC E S

H

C

TA

SG N

W

E

J S

V

O

U R

A

R AE

R

B

U NM

Q



human resources -plural, noun

1. a. the workforce of an organisation b. (as modifier): human resources

management; human resources officer

2. a. the office or department in an organisation that interviews, appoints, and/or keeps records of employees

b. (as modifier): a human resources consultancy

3. the contribution to an employing organisation which its workforce could provide in effort, skills, knowledge, etc.

MONASH UNIVERSITY


As companies become increasingly aware of the need to hire and retain the best people and create happy and safe workplaces for their employees, human resources (HR) is

vitally important in business. Gone are the days when HR was simply an administrative role. HR professionals now play an important part in the strategic success of every organisation both domestically and globally. This means that HR brings with it a variety of career paths and opportunities for the next generation of business and community leaders.

Human resources covers a wide range of diverse roles and opportunities within businesses and not-for-profit organisations. While many people believe that HR staff are only there to hire and fire people, there is actually a lot more to it.

Yes, HR professionals are responsible for hiring new staff (recruitment) and managing workplace issues – such as bullying, how much to pay staff, or what to do if people aren’t doing their jobs – they also play a key role in many other areas of the business, including employer branding, change management, training and development, employee relations, contracts of employment, employee rights, performance appraisals, and health and safety. They can also influence an organisation’s strategic business decisions. After all, a business is only as good as its employees, and an organisation’s employees are only as good as its HR team.

There are many different areas of HR, giving you the opportunity to explore your interests and forge a career path that will be varied and challenging. HR roles are often broken down into generalist, specialist or external roles, giving you plenty of career progression and development in the future. In a generalist role you might focus on a few different HR areas and after a few years in the field you may decide to become a specialist or consultant– working in a specific area – and as your career progresses, in more senior roles.

The absolute breadth of the field means that HR professionals are required in every industry – such as media, sport, healthcare, or IT as well as the not-for-profit sector and emerging social enterprises – giving you the opportunity to pursue a successful career in any organisation.

1. IT ALL STARTS WITH THE RIGHT FITAs a HR professional it’s up to you to find the right person to select and recruit for a job. It’s very important to get this right as the employees form the organisation. The wrong person in a job can have a negative impact and cost an organisation a lot of money.

3. MAKE SURE EVERYONE IS SAFE AND HAPPYYou’ve drawn up policies and procedures to make sure everybody knows what’s expected of them. You make sure the new person knows all about health and safety within the organisation, as well as policies about privacy, internet use, and others.

2. THE HR JOURNEY HAS JUST BEGUNSo you’ve found the perfect candidate. Now you need to make sure they know what’s expected of them. To help with this you’ve organised an induction, introduced the new staff member to the organisation and helped them navigate their way through their first weeks.

START



5. THERE’S BEEN AN ISSUE…If an employee feels they are being unfairly treated, HR will most likely be their first point of contact. You might have to deal with workplace bullying or discrimination. In such cases it could be up to you to mediate; you can be asked to investigate the problem and find a solution.

6. CROSSROADSPeople who work within an organisation may love working there but at the same time they may feel it’s time for a new challenge. As a HR professional, you can guide them through this process through career development, such as offering workshops to allow employees to develop new skills, or by helping them look for another role within the organisation.

7. MEASURE AND EVALUATE…HR professionals have to be able to show an organisation what their contribution is. So just like any other department within an organisation, HR have to evaluate and measure their success and contribution. You can do this by, for example, looking at recruitment success, staff retention numbers, the diversity of the workforce (in terms of gender and ethnicity for example), and much more.

4. IT’S A BALANCING ACT, REALLYYou’re not just looking after employees. You also have to be on top of the organisation’s obligations under state and federal law. This covers things like employees’ pay, their annual and personal leave, looking after enterprise agreements and dealing with potential industrial action (strikes, picket lines etc.)

FINISH

MONASH UNIVERSITY


Where in the world?

Want to know more about studying abroad? Then go to monash.edu/business-economics/undergraduate/studentexperience



Monash opens the doors to the world with our extensive study abroad and international exchange opportunities. As part of your business or commerce degree you have

the opportunity to study anywhere in the world at one of our 115 partner institutions across more than 20 countries. We also have Monash campuses in Malaysia, South Africa and Prato in Italy.

MONASH UNIVERSITY


STUDYING OVERSEASLETS TALK:

PRASANNA NADARAJALINGAM

Bachelor of Commerce/ Bachelor of Arts (Current student)

—I went on student exchange to the University of Missouri in the USA through the Monash Study Abroad Program. This was a highly valuable trip which allowed me to experience the educational system in the USA, meet people from all across the globe, get involved in local activities, and represent Monash University. It was fantastic to be involved in American college culture, and I’ve made some life-long friends. We also got to do some travelling on the weekends – we watched NBA games in LA, and had a quick trips to Las Vegas, Chicago, New York, San Francisco and Canada.

TATUM DE SILVABachelor of Business and Commerce/

Bachelor of Communications(Current student)

—The inter-campus exchange program to Malaysia was definitely the highlight of my Monash experience. It not only counted towards my academic transcript, but also was a great life experience. I would certainly recommend an exchange to all students. It takes you out of your comfort zone and allows you to dig deep and adapt to your surroundings, while offering you some unforgettable experiences. I was able to travel throughout Malaysia, including Borneo, where I climbed Mt Kinabalu, and I attended the Grand Prix in Malaysia, my first ever Grand Prix!

MONICA ARKLAYBachelor of Business and Commerce/

Bachelor of Professional Communication (Current student)

—My time on exchange at the Monash campus in Malaysia was probably the best choice I have made at Monash. I was able to continue my course, while meeting some incredible people and travelling around a beautiful country. It was great being able to live as a local, and I also got to do cool touristy things like jungle trekking and scuba diving. I enjoyed my exchange so much that I’m going to apply to study overseas again before the end of my course.

HARIES SUTKABachelor of Business


My best experience was going on international exchange to Boston College in the USA. I lived in a house with nine other international students from all around the world, which was terrific fun. I was involved in the Boston Marathon, and many other activities in the city and at Boston College. On completion of the program, I went backpacking with some of my new friends across 11 big American cities. I went from the east coast to west coast and it was a fantastic way to cap off the whole experience.

Jungle trekking and scuba diving are things I may never have done if I hadn’t had the opportunity to study abroad in Malaysia.



TODD MAYBachelor of Business


My favourite thing about my course was being given the opportunity to study abroad. In 2012, I participated in the Marketing Study Tour to China which was a good way to be immersed in another culture and see how what I’ve learnt applies to different business environments.

I also spent a full semester at the University of Miami, which was the best decision I’ve made in my life. Not only did I experience a different style of learning, but I developed independence through living in a foreign country, and made friends and contacts from all around the world.

DEBRA NOTTBachelor of Business (1986)

Founder and Director, Style Palette—

I loved studying at Monash, enjoying the transition from secondary school to the personal empowerment of studying at a university. I most enjoyed studying the marketing subjects, team assignments and electives. I chose to study international marketing and management, and travelled to Hong Kong and Japan to study abroad. The international study trip was the highlight of my university experience. I was wowed by the advancement of marketing execution in Japan and the use of space to capitalise on every opportunity to market to consumers.

Studying abroad was the highlight of my uni experience.

I was so lucky to have the opportunity to travel overseas twice during my degree – with the Marketing Study Tour to China, and the study abroad program in Miami.

JACLYN ROTMANBachelor of Commerce/ Bachelor of Engineering


A fantastic part of studying at Monash was the ability to spend a semester studying at the University of California, San Diego. I wouldn’t have had this experience if Monash didn’t have such an established exchange program. The Monash Study Abroad office was unbelievable in helping me set up my exchange to UCSD and access a study abroad grant to help pay for it.

I found out about studying overseas at the Monash Exchange Expo. I am so glad I attended and had the chance to study abroad at UCSD.

MONASH UNIVERSITY

52 U N I L I F E

F A C T O R

F I C T I O N

If you’re heading to university next year, you’re about to embark on one of the most exciting and interesting periods of your life. But making the transition from VCE to uni can seem quite daunting. It’s common for new students to worry about what university

life is really like, so we’ve gathered the most frequently asked questions – or worries – that first years have, and separated fact from fiction.


53 U N I L I F E

ORIENTATION ISN’T IMPORTANTWhere to start…? Orientation is not just important; you can go as far as calling it vital for a smooth transition to university life. In some cases it’s compulsory to attend but even if it isn’t, it’s still a great event. Orientation will help you learn about your teachers, support services, how the university systems work, and basic stuff like where things are on campus. And of course, it’s an opportunity to meet other first years and to make friends!

AT UNI, I’LL BE ALL ON MY OWNYes, you are expected to be an independent and active learner, but this doesn’t mean that you have to go it alone. There is plenty of support available, if and when you need it – all you have to do is ask. We have full-time student services staff who are able to assist with all your questions. And remember, you’re not the only first-year student! Some of your fellow students might be having the same problem, so ask around.

MY TEACHERS WILL KEEP A CHECK ON ME TO MAKE SURE I DON’T FALL BEHINDBeing a uni student requires a certain level of responsibility. It’s up to you to make sure you attend your classes, keep up with your study and put the time and effort in the unit as required. You may find that there are hundreds of students enrolled in the same units as you, making it rather difficult for a lecturer to keep tabs on each individual. But, remember, if you do need help or personalised attention, you just have to ask!

I WILL HAVE TO PUT MY LIFE ON HOLD WHILE I STUDYUniversity life is all about balance – you just need to find the study/life balance that works for you. Many students work part-time, socialise or are members of one (or more) of the variety of sports and social clubs on offer at Monash. There are events happening every day on campus, and your uni life will be much richer if you get involved.

FIRST YEAR DOESN’T COUNTThough you may not think first year counts, it’s the foundation for the rest of your education. The skills you learn in your first year help you to get the best out of yourself for the rest of your university career.

A UNIVERSITY DEGREE MEANS NOTHING IN THE JOB MARKETThe reality is many jobs require university-level qualifications, and they’re even more important if you want to work in a professional field, such as accounting, marketing or law. But uni’s not just about theoretical learning – many Monash degrees, especially our business degrees, have practical learning elements such as internships, study tours or guest lectures from industry leaders. These opportunities, combined with theoretical knowledge, will give you a real advantage when it comes to finding a job after you graduate.

I WON'T KNOW MY LECTURERS AS WELL AS I KNOW MY SCHOOL TEACHERS. There’s this idea – particularly among first years – that lecturers are distant human beings who see teaching as a burden they must bear for the sake of their academic endeavours. In reality though, most uni lecturers love what they teach and they enjoy talking to their students about their subjects in more detail.

IT’S UP TO ME IF I WANT TO ATTEND MY CLASSES – I CAN STILL PASS MY UNITS IF I DON’TIt’s absolutely your choice whether to attend classes or not. There’s no roll-call at uni. However, attendance is important to keep up-to-date with the unit content, assignment information, in-class assessment requirements, and for making connections with your lecturers and fellow students.

ONLY THE SMARTEST STUDENTS GET HIGH GRADESHigh grades are the result of time, effort and commitment to your studies. It’s all about getting the process right. If you have questions, ask your lecturer or tutor, they all have office hours, when you can call and ask a question. Remember, uni is all about getting out what you put in!

I won't

most of

shouldn'twill

A few small pieces of advice to h elp you ge t start ed on your journey.

e very thing

but I won't

won't

MONASH UNIVERSITY

54 U N I L I F E

01

03

02

04

1 0 T I P S F O R S U R V I V I N G

YEAR 12 as discovered by

Monash Business and Economics students

It’s finally here – Year 12, the year you’ve been working towards your entire life… blah blah blah. Everyone is full of tips on how to survive Year 12, but nobody’s perfect – adopt as many as you can, or as few as you can be bothered with, and take them with a grain of salt. Just remember to enjoy it;

after all, 12 months from now, it will all be over.

KISS: K E E P I T S I M P L E ( S I L L Y )

Studying doesn’t have to be complex. Keep it simple. Handwrite your notes where possible, because you won’t have a computer in your exam; colour coordinate by topic where you can (it gives you

an excuse to go shopping for stationery); and write notes that mean something to you, don’t just copy down every single thing.

SURVIVAL E Q U A L S

BALANCE All study and no fun will make you a grumpy bum. Make sure you maintain a balance between work and play – keep up some of your

social activities, play a sport, meet friends for a coffee and have a night off every now and then. Year 12 is not all about study, even if

sometimes it feels like it is.

L I S T E N T O Y O U R M U M A N D

DON’T CATCH A COLD

Try to be as healthy as possible this year, not only to keep your brain functioning, but to make sure you don’t get sick. Feed your brain (think berries, green leafy vegetables and healthy protein).

Vitamin packed fruits like oranges and grapefruits are also a great snack to help keep colds and flu away this year.

F I N D T I M E F O R

ZZZZZZZZZ’S There is a time to study (and 12 am is not one of them!) Don’t burn

the midnight oil – set aside a time for study, whatever suits you best, then switch off and make sure you get your beauty sleep.


55 U N I L I F E

05

07

09

06

08

10

Y O U A R E

NOT ALONE Yes, they are the lyrics to a Michael Jackson song, but they’re also

true in Year 12. Your teachers and your parents are there to help you, so let them. Don’t be afraid to ask for help, or even just for some time out. Now is also a good time to try to get out of your chores!

A V O I D T H E

DRAMA Year 12 is stressful enough by itself – without you adding any

extra drama. So don’t break up with your boyfriend/girlfriend near exam time, try not to have fights with your friends – or your parents

– and leave that extra drama to your favourite TV show.

K E E P

HYDRATED! Monash students swear that caffeine is the nectar of the gods.

And caffeine can definitely be your friend if you need a (reasonably healthy) energy boost. But herbal teas and water work just as well to help keep you refreshed and make a perfect study break drink. If you don’t like coffee or tea, try a Mocha (chocolate + coffee) or a hot chocolate to keep you energised through your study sessions.

P L A N F O R

FREEDOM Twelve months will go quickly, so plan something fun for after high school and book it in early (schoolies, for example). This way you’ll

have something to look forward to when it all seems too much, and you won’t have to stress about it in the exam period.

STUDY W H E N Y O U C A N

Use your study periods and early evenings wisely. Don’t procrastinate on Facebook for hours, and study at school if you get a chance. Then you can get your homework done and enjoy

some downtime on the weekends or before bed.

Y O U R A T A R

DOESN’T DEFINE YOU

If you don’t get what you need, there are other ways to end up in the degree/industry you want to be in (such as a Monash pathway course). Don’t put too much pressure on yourself. Yes, work hard, but realise that your ATAR does not control the future. If you’re

really passionate about something, you’ll find a way to get there.

MONASH UNIVERSITY

56 U N I L I F E


57 U N I L I F E

To help you navigate your way through the maze that is uni life, we’ve put together a glossary busting university jargon.

AaACADEMIC YEAR A study year at uni. It consists of two 12-week semesters, starting late February or early March and ending around November

AREA OF STUDY This is the major you study as part of your degree, for example economics or accounting

BbBACHELOR DEGREE The highest undergraduate award at Monash University, usually requiring three or four years of full-time study

CcCAMPUS The university grounds and buildings

COURSE The entire program of study required to complete your university degree

CONTACT HOURS The number of hours you are expected to attend classes, for example, lectures, tutorials and workshops

DdDEAN Chief academic and administrator of a faculty

DEGREE The academic title you get when you complete a course of study

DISCIPLINE The term used for study areas, or subjects, within a faculty. For example, marketing, accounting, and econometrics are all disciplines within the Faculty of Business and Economics

EeELECTIVES Units that you can pick based on what you’re interested in – this can include units from any faculty, or an internship or studying abroad

ENROLMENT The process of officially placing you into the units of your course

FfFACULTY A collection of academic departments which have similar disciplines

FEE-HELP A loan facility that helps students enrolled in non-research degrees pay their fees

GgGRADUATE The recipient of a degree

GRADUATION A formal ceremony celebrating your successful completion of a degree

HhHIGHER EDUCATION Study at university level

HONOURS An extra year added to a degree program where you can specialise in an area of study and undertake a combination of coursework and research

Ii INDEPENDENT LEARNING The type of learning expected of university students. You’re expected to take responsibility for your own learning. This includes asking questions, by the way!

INTERNSHIP A temporary work placement within a company, which you can do as a part of your degree

JjJUGGLING A skill that all students need. It may feel like a superhuman ability at first but really, the longer you’ve been at uni, the easier it gets to juggle all your responsibilities at uni, work, and in your social life

KkKNOWLEDGE It’s often said that knowledge is power and where better to gain lots of it than at university?

LlLECTURE The most common form of (formal) teaching at uni where an academic staff member delivers information to students

MmMAJOR The main subject area of study completed as part of a degree

NnNOTE TAKING A very important part of attending lectures and studying

OoOPEN DAY Your chance to speak to staff and current students to learn about courses and university life

ORIENTATION The start of the semester for new students where there are all kinds of activities to help you settle into life at uni

PpPOSTGRADUATE STUDY Any higher-level study usually undertaken after completing an undergraduate degree, such as graduate diplomas, master’s degrees, or PhDs

PROFESSIONAL RECOGNITION Some courses are structured in such a way that they meet the requirements for entry into a specific profession

QqQUALIFICATION An award or some other form of certification of accomplishment, competence or attendance

RrRESEARCH Systematic investigation or inquiry in order to establish facts or reach new conclusions

SsSEMESTER A university teaching period, which usually covers 12 weeks

SOCIETIES (and clubs) are run by students for students and include a wide range of groups including academic, cultural, spiritual, sports and special interest groups

SPECIALISATION Another word to describe your major, or the area you specialise in as part of your degree, for example accounting or economics

STUDENT UNION A student organisation dedicated to providing services and representation for students

TtTERTIARY A general term covering all education providers after secondary school

TUTOR An academic staff member who is responsible for teaching small groups in tutorials

TUTORIAL A less formal method of teaching in a small group setting, usually requiring more student participation and interaction

UuUNDERGRADUATE A student who hasn’t finished a bachelor’s degree

UNITS The subjects that make up your degree

VvVICE-CHANCELLOR The academic and administrative head of the university

WwWORK INTEGRATED LEARNING The program that delivers all of Monash’s industry-related learning, for example, internships and study tours

XxX An unknown value often used in mathematical equations or to indicate that someone has ‘that special something’, also known as the ‘x-factor’

YyYOU It’s all about you at university. You make the choices, you decide on your direction

ZzZZZZZZZ Even though you’re probably very busy studying and having fun, don’t forget to catch enough of these!

MONASH UNIVERSITY


IT’S AS EASY AS ABC&EComparing our coursesWhether you have your future mapped out, or you’re still trying to figure out the end goal – by now you know that university is the next step. And if you’ve finished reading this magazine, you’ve probably also decided that a business degree is the way to get to your goal. But how do you decide which business degree is best for you?

It’s easy as A B C or E – Accounting, Business, Commerce or Economics.

When you start to explore business degrees at Monash you’ll quickly notice one thing – there are plenty of options to choose from. Variety is the spice of life here, and there are many ways for you to study business. It’s almost like reading a Choose Your Own Adventure book. So to make it a little easier, here is a comparison of the business and commerce courses, and the accounting and economics options on offer at Monash University.

* Industry-based learning forms a compulsory part of the Bachelor of Accounting. Students may opt to undertake internship electives as part of our other accounting degrees.

** Depending on unit selection this degree may provide eligibility for associate membership and entry to the Chartered Accountants Program of the Institute of Chartered Accountants Australia (ICAA), Associate membership of the Institute of Public Accountants or entry to CPA Program of CPA Australia.

OPTIONS FOR ACCOUNTING If you’re interested in studying accounting, Monash is the place to do it. We have six degree options for students who are interested in accounting. While the Bachelor of Accounting is our premier accounting degree, our other courses provide added flexibility.

Bachelor of Accounting

Bachelor of Business (Accounting)

Bachelor of Business with a major in accounting

Bachelor of Commercewith a major in accounting

Bachelor of Commerce(Accounting and Finance)

Bachelor of Business Administration with a major in accounting

Industry-based learning and industry scholarship •

Internships* • • • • •Double degree options • • •Flexibility to choose major • • •Electives in areas other than accounting • • • • • •

Extended major in accounting • •

Professional recognition** • • • • • •

OPTIONS FOR ECONOMICS If you’re interested in studying economics, you are spoiled for choice at Monash. We have five options for you, and each course has its own features and benefits.


Bachelor of Economics Advanced with Honours

Bachelor of Business with a major in economics

Bachelor of Commercewith a major in economics

Bachelor of Business Administration with a major in finance and economics

Honours year •Internships • • • • •Double degree options • • •Flexibility to choose major • • • • •Electives in areas other than economics • • • • •

Extended major in Finance and economics •



BACHELOR OF BUSINESS BACHELOR OF COMMERCEFocus: How individual organisations and businesses operate

Focus: The wider commercial and economic environment organisations operate in

Campus: Caulfield and Peninsula

Campus: Clayton

ATAR: 80+

ATAR: 90+

Maths Prerequisite: A score of 25 in any maths

Maths Prerequisite: A score of 25 in maths methods or specialist maths

Teaching Mode: Lecture/tutorialProblem-based learning

Teaching Mode: Lecture/tutorial

Majors Available:- Accounting- Banking and Finance - Business law- Business strategy- Econometrics- Economics- Human resource

management

- International business- Management- Marketing- Marketing and

communication- Psychology- Sports management

Majors Available:- Accounting- Actuarial studies- Business modelling- Econometrics and

business statistics- Economics - Finance- Financial and

insurance mathematics

- International commerce

- Management studies- Marketing- Philosophy and

politics- Sustainability

Double Degree Options: Double Degree Options:- Arts- Visual arts- Health science- Journalism

- Aerospace engineering (Honours)

- Arts- Arts (Global)- Biomedical science- Business information

systems- Economics- Education (Secondary)- Engineering (Honours)

- Environmental engineering (Honours)

- Journalism- Laws- Music- Science- Pharmacy

There are many similarities between our Bachelor of Business and Bachelor of Commerce degrees, and both will give you a world-class education. But which course you decide to take will come down to your individual interests and goals.

Both courses offer industry-based learning, double degree options, strong business skills, and an excellent mix of majors to choose from; however each has its own unique perspective and focus. The double degree combinations are also different for business and commerce.

IT’S AS EASY AS ABC&EBusiness vs Commerce


Find out more about our courses at monash.edu/business-economics/undergraduate

At Monash, our courses are all about flexibility and choice. We give you the freedom to pick the course that's best for you - whether that's a comprehensive

course that offers a range of majors and evolves as your interests develop in particular directions, or a course with a specialist focus that offers you depth

in your area of interest from the start of your studies.

Which course is right for you?


COURSES WITH A RANGE OF MAJORS

Bachelor of CommerceBachelor of Commerce Scholars Program

Bachelor of Business Administration

Bachelor of Business (Accounting)Bachelor of Business (Banking and Finance)

Bachelor of Business (Law)Bachelor of Business (Marketing)Bachelor of Business (Psychology)

COURSES WITH A SPECIALIST FOCUS

Bachelor of Commerce (Accounting and Finance)

Bachelor of Economics Bachelor of Economics Advanced

with Honours


MONASH UNIVERSITY


SINGLE DEGREESBachelor of Accounting 1 90+ 1 33 CL 3

Bachelor of Business 2 80-82 2 30 CF, P 3

Bachelor of Business Administration 3 72-75 3 25 B 3

Bachelor of Business (Accounting) 2 82+ 2 30 CF 3

Bachelor of Business (Banking and Finance) 2 82+ 2 30 CF 3

Bachelor of Business (Law) 2 82+ 2 30 CF 3

Bachelor of Business (Marketing) 2 82+ 2 30 CF 3

Bachelor of Business (Psychology) 2 82+ 2 30 CF 3

Bachelor of Commerce 1 90+ 1 33 CL 3

Bachelor of Commerce (Accounting and Finance) 1 90+ 1 33 CL 3

Bachelor of Commerce Scholars Program 1 98+ 1 41 CL 3

Bachelor of Economics 1 90+ 1 33 CL 3

Bachelor of Economics Advanced with Honours 1 98+ 1 41 CL 4

DOUBLE DEGREESBachelor of Arts/Bachelor of Business 2 85-90 2 31 CF 4

Bachelor of Arts/Bachelor of Business (Accounting) 2 85-90 2 31 CF 4

Bachelor of Arts/Bachelor of Business (Banking and Finance) 2 85-90 2 31 CF 4

Bachelor of Arts/Bachelor of Business (Management) 2 85-90 2 31 CF 4

Bachelor of Arts/Bachelor of Business (Marketing) 2 85-90 2 31 CF 4

Bachelor of Arts/Bachelor of Commerce 1 92-95 1 34 CL 4

Bachelor of Arts Scholars Program/Bachelor of Commerce Scholars Program 1 94 1 38 CL 4

Bachelor of Arts/Bachelor of Economics 1 92-95 1 35 CL 4

Bachelor of Arts (Global)/Bachelor of Commerce 1 92-95 1 35 CL 4

Bachelor of Biomedical Science/Bachelor of Commerce 9 92-95 4 35 CL 4

Bachelor of Business/Bachelor of Visual Arts 4 85-90 5 31 CF 4

Bachelor of Business (Accounting)/Bachelor of Business (Banking and Finance) 2 85-90 2 31 CF 4

Bachelor of Business (Accounting)/Bachelor of Business (Management) 2 85-90 2 31 CF 4

Bachelor of Business (Management)/Bachelor of Business (Marketing) 2 85-90 2 31 CF 4

Bachelor of Commerce/Bachelor of Aerospace Engineering (Honours) 5 93-95 8 35 CL 5

Bachelor of Commerce/Bachelor of Business Information Systems 1 92-95 1 34 CL 4

COURSESVCE prerequisite requirements

Typical ATAR (score to be used as a guide only)

IB prerequisite requirement

Typical IB score(score to be used as a guide only)

Campus Length of course (years)

FACULTY OF BUSINESS AND ECONOMICS MAJORS AND COURSE LIST

Bachelor of Commerce/Bachelor of Economics 1 92 1 34 CL 4

Bachelor of Commerce Scholars Program/Bachelor of Economics 1 98 1 40 CL 4

Bachelor of Commerce/Bachelor of Education (Secondary) 1 90+ 1 33 CL 4

Bachelor of Commerce/Bachelor of Engineering (Honours) 5 93-95 8 35 CL 5-5.5^

Bachelor of Commerce/Bachelor of Laws 8 98 1 40 CL 5.5

Bachelor of Commerce/Bachelor of Science 1 92-95 1 33 CL 4

Bachelor of Environmental Engineering (Honours)/ Bachelor of Commerce 5 93+ 8 35 CL 5

Bachelor of Health Science/Bachelor of Business 2 83-87 2 31 CF 4

Bachelor of Journalism/Bachelor of Business 2 84 2 31 CF 4

Bachelor of Journalism/Bachelor of Commerce 1 93 1 35 CF, CL 4

Bachelor of Music/Bachelor of Commerce 7 92-95 9 35 CL 4

Bachelor of Pharmacy/Bachelor of Commerce 6 92-95 10 35 PV, CL 6

UNDERGRADUATE DIPLOMAS – PATHWAY COURSESDiploma of Tertiary Studies

2

Applicants ranked on ATAR and the Monash University Supplementary form

2 N/A B, P 1

COURSESVCE prerequisite requirements

Typical ATAR (score to be used as a guide only)

IB prerequisite requirement

Typical IB score(score to be used as a guide only)

Campus Length of course (years)

VCE PREREQUISITE REQUIREMENTS1 Units 3 and 4 – a study score or at least 30 in

English (ESL) or 25 in any other English, and a study score of at least 25 in mathematical methods (CAS) or specialist mathematics.

2 Units 3 and 4 – a study score of at least 30 in English (ESL) or 25 in any other English, and a study score of at least 25 in mathematics (any).

3 Units 1 and 2 – two units (any study combination) of general mathematics or mathematical methods (CAS) or Units 3 and 4 – mathematics (any). Units 3 and 4 – a study score of at least 30 in English (ESL) or 25 in any other English.

4 Units 3 and 4 – a study score of at least 30 in English (ESL) or 25 in any other English, and a study score of at least 25 in mathematics (any) and a study score of at least 30 in art or studio arts.

5 Units 3 and 4 – a study score of at least 30 in English (ESL) or 25 in any other English, and a study score of at least 25 in mathematical methods (CAS), and a study score of at least 25 in physics or chemistry.

6 Units 3 and 4 – a study score of at least 35 in English (ESL) or 30 in any other English, and a study score of at least 30 in chemistry and mathematical methods (CAS).

7 Units 3 and 4 – a study score of at least 30 in English (ESL) or 25 in any other English, and a study score of at least 25 in one of mathematical methods (either) or specialist mathematics. Plus audition, interview and Information for performance audition/composition submission form.

8 Units 3 and 4 – a study score of at least 35 in English (ESL) or 30 in any other English, and a study score of at least 25 in mathematical methods (CAS) or specialist mathematics.

9 Units 3 and 4 – a study score of at least 35 in English (ESL) or 30 in any other English, and a study score of at least 25 in mathematical methods (CAS) or specialist mathematics and a study score 25 in chemistry.

IB PREREQUISITE REQUIREMENTS1 A score of at least 4 in English SL or 3 in

English HL or 5 in English B SL or 4 in English B HL, and a score of at least 4 in mathematics SL or 3 in mathematics HL or 4 in further mathematics SL.

2 A score of at least 4 in English SL or 3 in English HL or 5 in English B SL or 4 in English B HL, and A score of at least 4 in mathematics SL, or in further mathematics SL, or in mathematical studies SL; or a score of at least 3 in mathematics HL.

3 A score of at least 4 in English SL or 3 in English HL or 5 in English B SL or 4 in English B HL, and a score of at least 3 in any mathematics subject.

4 A score of at least 5 in English SL or 4 in English HL or 5 in English B SL or 4 in English B HL, and a score of at least 4 in mathematics SL or 3 in mathematics HL or 4 in further mathematics SL and 4 for Chemistry SL and 3 for Chemistry HL.

5 A score of at least 4 in English SL or 3 in English HL or 5 in English B SL or 4 in English B HL, and A score of at least 4 in mathematics SL, or in further mathematics SL, or in mathematical studies SL; or a score of at least 3 in mathematics HL and a score of at least 5 in Visual Arts SL or 4 in Visual Arts HL.

6 A score of at least 4 in English SL or 3 in English HL or 5 in English B SL or 4 in

English B HL, and a score of at least 3 in any mathematics subject and a score of at least 5 in Visual Arts SL or 4 in Visual Arts HL.

7 A score of at least 5 in English SL or 4 in English HL or 5 in English B SL or 4 in English B HL, and a score of at least 4 in mathematics SL or 3 in mathematics HL or 4 in further mathematics SL and 4 for Chemistry SL and 3 for Chemistry HL and a score of at least 4 in physics SL or 2 in physics HL.

8 A score of at least 5 in English SL or 4 in English HL or 5 in English B SL or 4 in English B HL, and a score of at least 4 in mathematics SL or 3 in mathematics HL or 4 in further mathematics SL And 4 for Chemistry SL and 3 for Chemistry HL or a score of at least 4 in physics SL or 2 in physics HL.

9 A score of at least 4 in English SL or 3 in English HL or 5 in English B SL or 4 in English B HL, and a score of at least 4 in mathematics SL or 3 in mathematics HL or 4 in further mathematics SL. Plus audition, interview and information for performance audition/composition submission form.

10 A score of at least 5 in English SL or 4 in English HL or 5 in English B SL or 4 in English B HL, and a score of at least 5 in mathematics SL or 4 in mathematics HL or 5 in further mathematics SL and 5 for Chemistry SL and 4 for Chemistry HL.

B CF P CL CL CL CL

Accounting • • • •

Actuarial studies • • •

Banking and finance •

Business law •

Business modelling •

Business strategy •

Econometrics •

Econometrics and business statistics • • •

Economics • • • •

Finance •

Finance and economics •

Financial and insurance mathematics • • •

Human resource management •

International business •

International commerce •

Management •

Management studies •

Marketing • • •

Marketing and communication •

Philosophy and politics* • •

Psychology*+ •

Sports management •

Sustainability •

The inclusion of SEAS and subject bonuses may result in applicants with an ATAR below the published ATAR score gaining course admission.

^ This course may be completed in four or five years by taking an extra unit in one or two semesters.

# Indicative ATAR

MAJORSBachelor of Business Administration





Bachelor of Economics Advanced with Honours

CAMPUS KEYB Berwick

CF Caulfield

CL Clayton

PV Parkville

P Peninsula

* These majors can only be undertaken as a second major. (Your first major must be from the Faculty of Business and Economics and be taken on your campus of enrolment).

+ There are certain requirements to meet professional accreditation as a psychologist which can impact other majors. For more information, talk to your course advisor.

CONTACT USLocal studentsTelephone: (03) 9903 4788Email: [email protected]

International students Telephone: (613) 9903 4788Email: [email protected]

VISIT USOn the webmonash.edu/business-economics/undergraduate

In personmonash.edu/openday

FOLLOW US monash-business-students.blogspot.com facebook.com/Monash.University twitter.com/MonashUni youtube.com/MonashUniBuseco

Monash University reserves the right alter information, procedures, fees and regulations contained in this document. Please check Monash University website for updates (www.monash.edu.au). All information reflects the prescriptions, policy and practice in force at time of publication.

Published February 2014.

Documents

An Undergraduate Business Magazine - For Aspiring Business Leaders