Faculty of Business and LawSchool of Accounting, Economics and Finance

Deakin University, Faculty of Business and LawDeakin University, Faculty of Business and Law

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It is never too soon to start planning for

Honour!

Why Start Planning Early?Why Start Planning Early?

Setting Goals increase The chances for

success

Honurs entry requirements are

Specific and begin with

Second year courses

Get Ready to learn More!!!

What is Honours?What is Honours? Honours is a fourth year of specialised study taken Honours is a fourth year of specialised study taken

after a three year degree. The Honours program after a three year degree. The Honours program offers advanced study in your chosen area and offers advanced study in your chosen area and training in research techniques.training in research techniques.

The Honours program is an eight credit point The Honours program is an eight credit point program comprised of:program comprised of:– four credit points of coursework units which provide more four credit points of coursework units which provide more

in-depth knowledge of complex issues, and in-depth knowledge of complex issues, and – a research project worth four credit points. a research project worth four credit points.

Your research will be individually supervised by an Your research will be individually supervised by an experienced staff member. experienced staff member.

It is a small, but intensive program with a group of It is a small, but intensive program with a group of bright and highly motivated students.bright and highly motivated students.

Why Honours?Why Honours? Did you know Mick Jagger has an undergraduate Did you know Mick Jagger has an undergraduate

degree in accountancy and a advanced degree degree in accountancy and a advanced degree from the London School of Economics?from the London School of Economics?

Honours training can certainly Honours training can certainly ““START YOU UP!”START YOU UP!”

You'll be more competitive in the job market; You'll be more competitive in the job market; Most working professionals go on to a higher Most working professionals go on to a higher

degree. Do well at Honours and you'll be qualified degree. Do well at Honours and you'll be qualified to do a PhD or other degrees; and; to do a PhD or other degrees; and;

Personal satisfaction with your achievements. Personal satisfaction with your achievements.

Why honours….Why honours….

The Faculty of Business and Law has highly skilled The Faculty of Business and Law has highly skilled researchers with a broad range of expertise in researchers with a broad range of expertise in academic and industry research. Between them they academic and industry research. Between them they have many years of supervision experience and are have many years of supervision experience and are enthusiastic in encouraging research degrees.enthusiastic in encouraging research degrees.

The Faculty is very supportive of its Honours The Faculty is very supportive of its Honours students and offers opportunities for the staff and students and offers opportunities for the staff and students to interact at various gatherings throughout students to interact at various gatherings throughout the year. the year.

The Honours Program offered by the School of The Honours Program offered by the School of Accounting, Economics and Finance is a high quality Accounting, Economics and Finance is a high quality specialised program for outstanding students at specialised program for outstanding students at fourth level. fourth level.

Why Deakin University?Why Deakin University?

Student focusedStudent focused

Over 70 friendly and Over 70 friendly and

accessible staff accessible staff

Staff linked to real world in Staff linked to real world in

teaching and researchteaching and research

Aim to produce work Aim to produce work

ready graduatesready graduates

Coursework component focuses on the theoretical Coursework component focuses on the theoretical foundations of accounting, economics and finance as well foundations of accounting, economics and finance as well as the current research literature.as the current research literature.

An introduction to research is provided in a compulsory An introduction to research is provided in a compulsory

coursework unit in research methods. coursework unit in research methods.

Honours-level electives also provide the opportunity to Honours-level electives also provide the opportunity to examine 'research-in-action' by studying examples of examine 'research-in-action' by studying examples of published research. published research.

The Honours Program is reviewed annually to ensure that The Honours Program is reviewed annually to ensure that all aspects of the program are of consistent high quality and all aspects of the program are of consistent high quality and are comparable with the best of honours programs offered are comparable with the best of honours programs offered elsewhere.elsewhere.

Why Deakin University?Why Deakin University?

A Deakin University A Deakin University Honours degree in Accounting, Honours degree in Accounting,

Economics or Finance will Economics or Finance will provide you with a sound provide you with a sound foundation for a career.foundation for a career.

AIMSAIMS EXPLORE THE EXPLORE THE

FRONTIERSFRONTIERS

PROVIDE A PROVIDE A CHALLENGING CHALLENGING LEARNING LEARNING ENVIRONMENTENVIRONMENT

EMPLOYMENT EMPLOYMENT ENHANCEMENTENHANCEMENT

BENEFITSBENEFITS

CAREER CAREER ENHANCEMENTENHANCEMENT

SUPERIOR SKILLSSUPERIOR SKILLS– RESEARCHRESEARCH– PROBLEM SOLVINGPROBLEM SOLVING– ANALYSISANALYSIS– COMMUNICATIONCOMMUNICATION

LEADS TO MASTERS LEADS TO MASTERS AND PH.DAND PH.D

SupportSupport

ScholarshipsScholarships– University scholarships University scholarships

http://www.deakin.edu.ahttp://www.deakin.edu.au/scholarships/merit/hou/scholarships/merit/honours.phpnours.php

Sessional work as a Sessional work as a tutortutor

What type of job do you want?What type of job do you want? In developing relevant skills the In developing relevant skills the

undergraduate degree is limitedundergraduate degree is limited

Shuffling papers aroundShuffling papers around

The job market is highly competitiveThe job market is highly competitive

We live in a rapidly changing We live in a rapidly changing environment.environment.

Do you have the skills to adapt to a Do you have the skills to adapt to a changing environment?changing environment?

Through takeovers, outsourcing, etc, Through takeovers, outsourcing, etc, concept of lifelong employment has pastconcept of lifelong employment has past

What skills do you develop in What skills do you develop in studying honours?studying honours?

By undertaking a piece of research, you develop By undertaking a piece of research, you develop problem solving (or research) skillsproblem solving (or research) skills

Unlike learning a body of knowledge, problem Unlike learning a body of knowledge, problem solving skills are transferable to other situationssolving skills are transferable to other situations

Gives you a great advantage in job situationsGives you a great advantage in job situations

You have the ability to ADAPTYou have the ability to ADAPT

What are problem solving skills?What are problem solving skills?Have an approach to solve problems. That is learn toHave an approach to solve problems. That is learn to

Define the problemDefine the problem

Gain background knowledge of problemGain background knowledge of problem

What data is relevant to solving the problemWhat data is relevant to solving the problem

How to process that data to gain meaningful How to process that data to gain meaningful resultsresults

Be able to analyse the significance of the resultsBe able to analyse the significance of the results

Core UnitsCore Units

RResearch esearch componentcomponent– Semester 1Semester 1

MAA 427 Research MAA 427 Research Methods, Methods,

– Semester 2 (one thesis)Semester 2 (one thesis) MAR 411 Research Report MAR 411 Research Report

1, 1, MAR 412 Research Report MAR 412 Research Report

2, 2, MAR 413 Research Report MAR 413 Research Report

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Area of InterestArea of Interest

Accounting Economics Finance

To see all areas

AccountingAccounting

•Industry

•Small Business

•Government

•Non-Profit

•Self Employed

Accounting honoursAccounting honours

Compulsory research componentCompulsory research component Compulsory coursework:Compulsory coursework:

– MAA452 Foundations of AccountingMAA452 Foundations of Accounting

Plus three from Plus three from – MAA 424 Contemporary Issues in AccountingMAA 424 Contemporary Issues in Accounting– MAA 451 Advanced Auditing MAA 451 Advanced Auditing – MAA 456 Advanced Management AccountingMAA 456 Advanced Management Accounting– MAF 430 Advanced Derivative SecuritiesMAF 430 Advanced Derivative Securities– MAF 453 Advanced Corporate FinanceMAF 453 Advanced Corporate Finance– MAF 454 Financial IntermediationMAF 454 Financial Intermediation

Entry - AccountingEntry - Accounting

Best four accounting units including:Best four accounting units including:– MAA202 Accounting for Planning and ControlMAA202 Accounting for Planning and Control– MAA301 Financial Accounting TheoryMAA301 Financial Accounting Theory– MAA302 Strategic Management AccountingMAA302 Strategic Management Accounting– MAA303 AuditingMAA303 Auditing

Accounting TopicsAccounting Topics In USA, Enron, WorldCom and many other In USA, Enron, WorldCom and many other

companies collapsed. Also many accounting companies collapsed. Also many accounting scandals.scandals.

In Australia, HIH Insurance and Harris Scarfe In Australia, HIH Insurance and Harris Scarfe collapsedcollapsed

Many reforms introduced in both countriesMany reforms introduced in both countries

Triple bottom line reportingTriple bottom line reporting Propensity to increase social and environmental Propensity to increase social and environmental

voluntary disclosures does not provide insights:voluntary disclosures does not provide insights: into financial risk resulting from the into financial risk resulting from the firm’s firm’s

related decisions/ activities.related decisions/ activities. Sustainable – longer term environmental Sustainable – longer term environmental

performance.performance. Decisions can be improved if linked toDecisions can be improved if linked to

– Internal managementInternal management– External stakeholdersExternal stakeholders

EconomicsEconomics

Career Prospects in Economics

Policy advisors for Government

Economists in large companies (market analysts, economic

forecasters, strategic

management)Analysts for

financial institutions

(commercial banks, stockbrokers,

investment banks)

Structure - EconomicsStructure - Economics Compulsory research componentCompulsory research component

Compulsory coursework:Compulsory coursework:MAE411 Advanced Economic TheoryMAE411 Advanced Economic TheoryMAE413 Macroeconomic Theory and MAE413 Macroeconomic Theory and

PolicyPolicyMAE403 International EconomicsMAE403 International EconomicsMAE406 Business and Financial MAE406 Business and Financial

EconometricsEconometrics

Entry - EconomicsEntry - Economics

2008 Economics Requirements Required:

– Major in Economics, International Trade or Quantitative Analysis with at least a credit average.

– MAF 256 Intro to Quant Finance and Econ.– MAE 301 Microeconomic Theory and Policy– MAE 302 Macroeconomics of Open Economies

Highly recommended:– MAE 306 Applied Econometrics for Economics and Finance– And/or MAE 305 Business and Financial Forecasting

Economics - TopicsEconomics - Topics LabourLabour GrowthGrowth Game TheoryGame Theory Law and EconomicsLaw and Economics Stock MarketsStock Markets Efficiency and ProductivityEfficiency and Productivity RegulationRegulation SportSport TerrorismTerrorism

FINANCEFINANCECareer ProspectsCareer ProspectsCorporate AdvisorCorporate AdvisorEstates and Wills Estates and Wills Investment ManagerInvestment ManagerTreasury AnalystTreasury AnalystBank ManagerBank ManagerFunds ManagerFunds ManagerFinancial ServicesFinancial ServicesShare BrokerShare BrokerCredit AnalystCredit Analyst

Structure - FinanceStructure - Finance

Compulsory research componentCompulsory research component Compulsory coursework: four fromCompulsory coursework: four from

– MAF453 Advanced Corporate FinanceMAF453 Advanced Corporate Finance– MAF421 Advanced InvestmentsMAF421 Advanced Investments– MAF430 Advanced DerivativesMAF430 Advanced Derivatives– MAF454 Financial IntermediationMAF454 Financial Intermediation– MAE406 Business and Financial EconometricsMAE406 Business and Financial Econometrics

Entry Requirements - FinanceEntry Requirements - Finance Required (Minimum of two of the following):Required (Minimum of two of the following):

– MAF 256 Introduction to Quantitative Finance and Economics.MAF 256 Introduction to Quantitative Finance and Economics.– MAF 307 Equities and Investment AnalysisMAF 307 Equities and Investment Analysis– MAF 308 Applied Investment AnalysisMAF 308 Applied Investment Analysis– MAF 384 Financial ModellingMAF 384 Financial Modelling

Strongly recommended:Strongly recommended:

– MAF 306 International Finance and InvestmentMAF 306 International Finance and Investment– MAE 305 Business and Financial ForecastingMAE 305 Business and Financial Forecasting– And/or MAE 306 Applied econometrics for Economics and FinanceAnd/or MAE 306 Applied econometrics for Economics and Finance

Finance TopicsFinance Topics IPOsIPOs Commodity MarketsCommodity Markets Credit RatingsCredit Ratings TakeoversTakeovers DerivativesDerivatives Microstructure of markets Microstructure of markets F XF X WarrantsWarrants Firm Performance and ownershipFirm Performance and ownership

Contacts Contacts – Details in the Booklet– Details in the Booklet

Dr. Raylene Pierce-Dr. Raylene Pierce-Maberly – Co-ordinatorMaberly – Co-ordinator

- Admin Support - - Admin Support - Linda DeSousa – Linda DeSousa – linda.desousa@deakinlinda.desousa@deakin.edu.au.edu.au

61 3 9251 780161 3 9251 7801 Honours GuideHonours Guide