Business & Economics

Business & Economics

Business & Economics

2 0 1 9 P O S T G R A D U A T E G U I D E Business & Economics ANU College of Business & Economics

Business & Economics

C O N T E N T S Join us at ANU 4 World-class education 6 Global connections 8 The postgraduate advantage 10 Graduate outcomes 12 Employability14 Study options 17 Accounting 18 Actuarial studies and statistics 24 Business and management 32 Economics 46 Finance  54 Graduate research 62 Support for success 64 How to apply 66 Photo: Australian National University | Cover photo: Australian National University 3 2019 Postgraduate Guide

Business & Economics

Australia’s finest For over 70 years, The Australian National University (ANU) has worked to realise the ambitions of its visionary founders to become Australia’s finest research institution.

We now invite you to join our community of world-leading academics, alumni and students who make us Australia’s #1 university, and #24 in the world.1 Our mission is to provide Australia with intellectual leadership on critical issues. Our influence in global research and teaching has made us Australia’s most international university, and our dedication to our students has made them Australia’s most employable graduates.2 We are committed to excellence in our education, our student cohort, and student outcomes and experience. You are committed to better outcomes for your community, the environment, our nation and the world.

Embrace your global citizenship in our inclusive, open and respectful community. Learn from research as it happens, create in our state-of-the-art facilities, unlock your future and change the world. J O I N U S A T A N U ANU is ranked #1 in Australia and #24 in the world1 Best city to visit Lonely Planet ranked Canberra as the World’s #3 best city to visit in 2018 6 Nobel Laureates The highest number of all Australian universities Top 25 student cities Canberra ranks among the top 25 student cities in the world4 Home to 12 national institutions including the Australian Parliament, the High Court of Australia, and the National Library of Australia International outlook Ranked 1st in Australia and 10th in the world3 More than just the capital city Home to national festivals like the National Multicultural Festival, with plenty of other community events on throughout the year Ranked #1 in Australia for business and economics5 “Well above” world standard 95% of ANU research is rated “above” or “well above” world standard6 1 QS World University Rankings 2019 2 Global University Employability Ranking 2017 3 Times Higher Education World University Rankings 2018 4 QS Best Student Cities 2017 5 Times Higher Education World University Rankings 2018 by subject 6 Excellence in Research for Australia 2015 Photo: Australian National University 4 5 2019 Postgraduate Guide ANU College of Business & Economics

Business & Economics

Developing tomorrow’s leaders We are proud to be part of The Australian National University (ANU), which is the nation’s finest. Our unique mission, as the national university, is to address major issues of national and international importance through our research and teaching. We take that mission very seriously. Our focus, within the ANU College of Business and Economics (CBE), is on developing leaders who transform business, society and economies. Whether you are an experienced professional wanting a qualification to help advance your career, or a recent graduate continuing on an academic pathway, a postgraduate qualification from CBE will help you open more doors to a brilliant career.

The strength of our international reputation attracts exceptional students from Australia, the wider Asia– Pacific region and beyond. We offer every student the opportunity to develop their strengths and the space to decide how they will make their future mark in the world. Supported by a dynamic team of academic and professional staff, students are offered a full suite of engaging learning opportunities to increase their employability and globalise their education experience. Through their studies, our graduates gain the knowledge and skills to lead organisations, develop public policy, create new companies and undertake research.

Our alumni may be found in the world’s leading companies, policy agencies and universities.

Vinh Lu Associate Professor and Director of Employability at CBE Award-winning educator, responsible for student employability and externally engaged student learning. 2017 ANZMAC Distinguished Marketing Educator of the Year Award. Anna von Reibnitz Senior Lecturer and Finance Masters Convenor Award-winning educator in Finance. 2017 Australian Awards for University Teaching Award for Teaching Excellence in Law, Economics, Business and Related Studies. Maria Racionero Associate Dean (Higher Degree Research) and Associate Professor Leader in Economics of Education, Public Economics, Political Economy, Microeconomic Theory, and Applied Microeconomics.

Markus Brueckner Professor and ARC Future Fellow Leader in Economic Growth, and Political Economy. Susanna Ho Professor Leader in Accounting, Business Information Systems, and Commerce. W O R L D - C L A S S E D U C A T I O N Photos Vinh Lu: Andrew Taylor Anna von Reibnitz: Australian National University Maria Racionero: Penny Bradfield Markus Brueckner: Andrew Taylor Susanna Ho: Australian National University 6 7 2019 Postgraduate Guide ANU College of Business & Economics

Business & Economics

G L O B A L C O N N E C T I O N S Unlock your potential. Immerse yourself in the CBE ecosystem, where students, academics and industry work together.

Building a strong professional network takes time. At ANU, students join a global student cohort. Your ANU qualification and connections are your gateway to participation in high-quality jobs. H I G H L I G H T S Leadership Aspire to intellectual leadership and public policy with real impact. Social impact Engage in research-led education and make an impact in your community.

Global influence Embrace your global citizenship and take your seat at the table. Modern classroom Learn with the best minds, the best students and the latest technology. Specialisation Unlock your passion with one of 26 program offerings. Entrepreneurship Learn, grow and scale your idea through to success. Evidence based Make better decisions—make evidence-based decisions. Make connections Access a global network of alumni. Photo: Australian National University 8 9 2019 Postgraduate Guide ANU College of Business & Economics

Business & Economics

Level up with a postgraduate qualification Most employable graduates At the ANU College of Business and Economics (CBE), we take your success very seriously.

The Australian National University (ANU) graduates are the most employable of all Australian university graduates. According to the 2017 Global University Employability Survey results, ANU graduates work in a wide range of industries including accounting, legal, finance and investment services, central government administration and consulting firms.

The 2016 Graduate Outcomes Survey shows that the majority of graduates from CBE secure full-time employment soon after completing their studies, and report high job satisfaction. A superior, research-led education Through your study with CBE, you will have the opportunity to learn from some of the finest academic minds in the world. You will explore intricate ideas, gain skills to critically analyse and solve complex problems, and discover innovative leadership styles and new models of management. You will gain the knowledge, experience and skills to become a leader.

Get connected Building a network that you can rely on takes more than hard work.

ANU attracts exceptional and talented people from Australia, the wider Asia–Pacific region and the world. As an ANU student, you will have opportunities to build your professional networks, giving you the competitive edge when it comes to advancing your career. Many of our courses are developed in consultation with industry partners, to ensure that the skills and knowledge you acquire through your study can be applied to real-world situations. T H E P O S T G R A D U A T E A D V A N T A G E Photo: Australian National University 11 2019 Postgraduate Guide 10 ANU College of Business & Economics

Business & Economics

G R A D U A T E O U T C O M E S Developed in collaboration with industry experts, MomentuM is CBE’s flagship professional development program. MomentuM develops employability and soft skills, essential for job market readiness. Get mentored by professionals who will share first-hand insights into how to thrive in today’s business world, giving you the competitive edge. cbe.anu.edu.au/study/momentum 1 Global University Employability Ranking 2017 2 2016 Graduate Outcomes Survey: ANU College of Business and Economics 3 2017 data from ANU Alumni database Top five industries in which CBE alumni work3 » » Accounting services » » Banking » » Central government administration » » Management advice and related consulting services » » State government administration Accenture Alibaba Amazon American Express ANZ Bank Apple Inc.

Asian Development Bank Audi Australian Public Service Baidu Baker Tilly International Bank Indonesia Bank of China Bank of Mongolia Bentleys NSW BMW Australia BNP Paribas Boston Consulting Group Centre for International Economics Chanel Taiwan Inc. China Unicom CITIC Bank Commonwealth Bank DBS Bank Dell Deloitte Deutsche Bank Dixon Advisory EY Fairfax Media Limited Flight Centre Goldman Sachs Google Inc. Hewlett Packard HSBC IBM Indonesian Stock Exchange International Monetary Fund JP Morgan Chase KPMG LinkedIn L’Oreal MediaCorp TV Mercedes-Benz National Australia Bank (NAB) Panasonic Philips Procter & Gamble PwC Reserve Bank of Australia Reserve Bank of China Reserve Bank of Fiji Reserve Bank of New Zealand Reserve Bank of Vanuatu Rio Tinto Standard Chartered Bank Tata Asset Management Tencent Thomson Reuters Toshiba TripAdvisor UN Women Australia Unilever United Nations Westpac Banking Corporation Top 10 occupations for CBE alumni3 » » Accountant » » Analyst/finance analyst/financial planner » » CEO » » CFO » » Consultant » » Director » » Economist » » Manager » » Partner » » President/vice president Employers of CBE graduates and alumni 84%of graduates reported their qualification prepared them “very well” or “well” for employment2 Average income for CBE graduates with a postgraduate degree was approximately $86,0002 38%of CBE graduates are employed in the public sector2 59%of CBE graduates are employed in the private sector2 Ranked 1st in Australia and 21st in the world for graduate employability1 Photo: Holly Treadaway 13 2019 Postgraduate Guide 12 ANU College of Business & Economics

Business & Economics

Across the world, demand for business and economic graduates is escalating in industry, business and government. Studying at CBE will provide you with skills and attributes that will remain relevant and keep you competitive in the evolving job market. Real-world skills CBE student journey We prepare you from day one ANU offers a range of services to ensure our students succeed at university. » » Academic workshops » » Program advice sessions » » Student networking events » » Set4ANU orientation program » » Student clubs and societies anu.edu.au/study/student-experience Community of business leaders Our graduates are lifelong members of our alumni community stretching across the globe.

» » We have over 22,000 alumni » » Our alumni work and live in 90+ countries » » Our graduates are ranked as most employable in Australia* * Global University Employability Ranking 2017 E M P L O Y A B I L I T Y Take an internship with the award-winning CBE Internship Program. The internship program gives students an opportunity to undertake an internship in either semester 1 or semester 2 as an elective for course credit. Each internship is project-based with deliverables set out in an agreement between the intern, workplace supervisor and academic supervisor.

cbe.anu.edu.au/study/internship CBE INTERNSHIP PROGRAM Real-life skills Our programs offer real-world experience through innovative course design, and award-winning internship and professional development programs. » » CBE Internship Program » » Australian National Internships Program » » MomentuM Job ready Embrace opportunities to expand your professional skills and become job ready. » » Industry networking events » » Career fairs » » Recruiter in Residence » » Career consultations » » Job listings anu.edu.au/students Australia China Business Council – ACT Branch Australian Chamber of Commerce & Industry Australian Institute of Health and Welfare Australian Research Alliance for Children and Youth BAE Systems Canberra Business Chamber Conservation Council ACT Cushman & Wakefield Embassy of Mexico Innovate Canberra Invest Canberra National Australia Bank National Disability Insurance Agency Optus Pharmacy Guild of Australia PwC Royal Australian Mint Transport Canberra UnitingCare Australia Note: Internship hosts can change each intake based on business requirements and availability of internship projects.

Examples of CBE Internship Program host organisations Photo 1: Australian National University | Photo 2: Holly Treadaway | Photo 3: Holly Treadaway | Photo 4: Australian National University 14 15 2019 Postgraduate Guide ANU College of Business & Economics

Business & Economics

Study options Postgraduate program offerings Program Program code CRICOS code Duration (full-time) Annual domestic fee ($A) Annual international fee ($A) Commences Page number Master of Accounting 7414XMACCT 050800J 2 years 33,888 45,168 S1 & S2 20 Master of Professional Accounting 7413XMPACC 050799G 1.5 years 33,888 45,168 S1 & S2 21 Master of Commerce (Advanced) VCOMM 093294M 2 years 33,888 45,168 S1 & S2 22 Graduate Certificate of Accounting 6459XGCACC 052700G 0.5 years 16,944 22,584 S1 & S2 23 Master of Actuarial Practice 7420XMACTP 079658E 2.5 years 33,888 45,168 S1 & S2 28 Master of Actuarial Studies 7410XMACTS 050802G 2 years 33,888 45,168 S1 only 29 Master of Statistics MSTAT 082353G 2 years 33,888 42,960 S1 & S2 30 Graduate Certificate of Finance and Actuarial Statistics CFAS 082257G 0.5 years 16,944 22,584 S1 & S2 31 Master of Business Administration MBADM 091188G 1.5 years 33,888 45,168 S1 only 36 Master of Business Information Systems MBINS 050796M 2 years 33,888 45,168 S1 & S2 37 Master of Entrepreneurship and Innovation MEINV 091185K 2 years 33,888 45,168 S1 & S2 38 Master of International Management MIMGT 088059J 2 years 33,888 45,168 S1 & S2 39 Master of Leadership MLEAD 091186J 2 years 33,888 45,168 S1 & S2 40 Master of Marketing Management MMKMT 091184M 2 years 33,888 45,168 S1 & S2 41 Master of Project Management MPROM 082344G 2 years 33,888 45,168 S1 & S2 42 Graduate Certificate of Management GCMGT 030000G 0.5 years 16,944 22,584 S1 & S2 43 Master of Applied Economics MAPEC 082269C 2 years 33,888 45,168 S1 & S2 50 Master of Economic Policy MECPO 082289K 2 years 33,888 45,168 S1 & S2 51 Master of Economics MECON 082290F 2 years 33,888 45,168 S1 & S2 52 Graduate Certificate of Economics CECON 082256G 0.5 years 16,944 22,584 S1 & S2 53 Graduate Diploma of Economics DECON 082263J 1 year 33,888 45,168 S1 & S2 53 Master of Applied Finance 7421XMAPFN 079659D 1.5 years 33,888 45,168 S1 & S2 58 Master of Finance 7418XMFIN 039762C 2 years 33,888 45,168 S1 & S2 59 Master of Financial Economics MFIEC 086226D 2 years 33,888 45,168 S1 only 60 Master of Financial Management MFINM 029316G 1 year 33,888 45,168 S1 & S2 61 Note The majority of graduate courses are worth six units.

However, some research courses, for example the master’s subthesis options in the Master of Commerce (Advanced), are worth more: either 12, 18 or 24 units. Courses with a unit value other than six are indicated in this guide.

R 1: Australian National University 17 2019 Postgraduate Guide 16 ANU College of Business & Economics

Business & Economics

Our programs > > Master of Accounting > > Master of Professional Accounting > > Master of Commerce (Advanced) > > Graduate Certificate of Accounting With continuing high global demand for qualified accountants, our accounting programs provide graduates with a wide range of career opportunities in accounting firms, government departments, banking and finance organisations, corporations and other related accounting fields. Accounting Professional accreditation 19 2019 Postgraduate Guide 18 ANU College of Business & Economics Overview Accounting Students wishing to study accounting at the master degree level have three options.

The Master of Professional Accounting, completed in one and a half years of full-time study, is for students who wish to achieve the education entry requirements of the Australian professional accounting bodies. This program is not suitable for students who already meet the entry requirements of the Australian professional accounting bodies.

The two-year Master of Accounting provides a route for students without prior study in accounting to achieve the education entry requirements of the Australian professional accounting bodies. For students with prior accounting studies, this program allows them to undertake advanced accounting courses. Both the Master of Accounting and the Master of Professional Accounting are accredited by CPA Australia and Chartered Accountants Australia and New Zealand. The Master of Commerce (Advanced) is for students who are interested in undertaking research in accounting. Introductory program in accounting For students wanting an introduction to accounting without committing to a master program, we offer the 24-unit Graduate Certificate of Accounting (usually completed in one semester of full-time study).

This program also provides options for students who may need additional courses to achieve the education entry requirements of the Australian professional accounting bodies. Information for overseas-trained accountants Applicants with accounting qualifications from countries outside Australia can achieve the education entry requirements of the Australian professional accounting bodies through one of our graduate accounting programs. Students intending to apply should first have an assessment of their qualifications undertaken by either CPA Australia or Chartered Accountants Australia and New Zealand, and include the assessment with their application.

Entry requirements For entry into the Master of Accounting and Master of Professional Accounting, applicants must have an Australian bachelor degree with a minimum grade point average (GPA) of 5.0/7, or the international equivalent. For the Master of Professional Accounting, applicants must also have completed undergraduate subjects in at least one cognate discipline (see below).

For entry into the Graduate Certificate of Accounting, applicants must have an Australian bachelor degree with a minimum GPA of 4.5/7, or the international equivalent. For entry into the Master of Commerce (Advanced), applicants must have an Australian bachelor degree with a minimum GPA of 6.0/7, or the international equivalent. Students are assumed to have an understanding of mathematics, including calculus and algebra. Those without the assumed knowledge are advised to undertake a mathematics bridging program.

All students must also satisfy the university’s English language admission requirements—see page 67.

Cognate disciplines Accounting, Actuarial Studies, Business, Business Information Systems, Computer Science, Economics, Finance, International Business, Mathematics, Management, Marketing, Statistics.

K E Y LEARNI NG OUTCOMES > > Integrate contemporary and advanced theoretical and technical accounting knowledge in a business context. > > Understand and synthesise a broad range of accounting issues through the lens of accounting and business research. > > Exercise judgement under minimal supervision to analyse and provide possible solutions to emerging and advanced accounting problems in complex contexts using, where appropriate, social, ethical, economic, regulatory, sustainability, governance and/or global perspectives.

> > Critically apply advanced theoretical and technical accounting knowledge and skills to evaluate a range of emerging and advanced accounting problems in professional and research contexts.

> > Justify and communicate accounting advice and ideas to both specialists and non-specialists. MASTER OF ACCOUNTIN G Program code: 7414XMACCT CRICOS code: 050800J Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time TYPICAL FULL-TIME PATTERN OF STUDY Including courses that satisfy the requirements of CPA Australia and Chartered Accountants Australia and New Zealand Year Semester 1 Semester 2 1 Financial Statements & Reporting Commercial Law Introductory Statistics for Business & Finance Applied Foundations of Finance Management Accounting & Cost Analysis Corporate Accounting Business Economics Business Association Law 2 Contemporary Issues in Accounting Corporate Financial Reporting Financial Statement Analysis Corporate Governance or Public Sector Accounting & Reporting Accounting Information Systems Auditing & Assurance Services Taxation Law Sustainability & Corporate Social Responsibility, Accountability & Reporting The program consists of 96 units, comprising: 24 units of compulsory courses: > > Business Economics > > Financial Statements and Reporting > > Applied Foundations of Finance > > Introductory Statistics for Business and Finance A minimum of 36 units from the following list: > > Public Sector Accounting and Reporting > > Sustainability and Corporate Social Responsibility, Accountability and Reporting > > Management Accounting and Cost Analysis > > Financial Statement Analysis > > Corporate Governance > > Corporate Accounting > > Accounting Analytics > > Commercial Law > > Accounting Information Systems A minimum of 24 units from the following list: > > Contemporary Issues in Accounting > > Taxation Law > > Corporate Financial Reporting > > Auditing and Assurance Services > > Business Association Law A maximum of 12 units from the following list: > > Analysis of Financial Reporting > > Commerce Research Report S T RUCT U RE MAST ER OF PROFE SSIONAL ACCOUNT ING Program code: 7413XMPACC CRICOS code: 050799G Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: One and a half years full-time, three years part-time TY PICAL F UL L - TIME PAT T E R N OF S T UDY Including courses that satisfy the requirements of CPA Australia and Chartered Accountants Australia and New Zealand Year Semester 1 Semester 2 1 Financial Statements & Reporting Introductory Statistics for Business & Finance Applied Foundations of Finance Commercial Law Business Association Law Management Accounting & Cost Analysis Corporate Accounting Business Economics 2 Contemporary Issues in Accounting Accounting Information Systems Taxation Law Auditing & Assurance Services K EY L EARN ING O UTC O MES > > Integrate advanced theoretical and technical accounting knowledge in a business context, including an understanding of developments in accounting and accounting research.

> > Exercise judgement under minimal supervision to analyse and provide possible solutions to emerging and advanced accounting problems in complex contexts. > > Critically apply advanced theoretical and technical accounting knowledge and skills to evaluate complex accounting problems in professional and research contexts. > > Justify and communicate accounting advice and ideas to both specialists and non-specialists. The standard program consists of 72 compulsory units. > > Financial Statements and Reporting > > Management Accounting and Cost Analysis > > Corporate Accounting > > Contemporary Issues in Accounting > > Commercial Law > > Business Association Law > > Introductory Statistics for Business and Finance > > Applied Foundations of Finance > > Business Economics > > Accounting Information Systems > > Auditing and Assurance Services > > Taxation Law STRUCTURE I enjoyed everything about ANU—the flexible timetable, the lecturers, the opportunities to make new friends.

It gave me the future career that I wanted. My advice to students is to spend time finding out what you’re good at. Understand how you learn best, and use that in your study. Harry Hoang Master of Professional Accounting Executive of the Year, Australian Accounting Awards 2018 I I I I Photo 1: Australian National University | L 2: supplied 20 21 2019 Postgraduate Guide ANU College of Business & Economics

GRADUAT E CE R T IFICAT E OF ACCOUNT ING Program code: 6459XGCACC CRICOS code: 052700G Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Six months full-time, one year part-time The program consists of 24 units to be chosen from the following list: > > Financial Statements and Reporting > > Contemporary Issues in Accounting > > Public Sector Accounting and Reporting > > Sustainability and Corporate Responsibility, Accountability and Reporting > > Taxation Law > > Management Accounting and Cost Analysis > > Financial Statement Analysis > > Corporate Governance > > Corporate Financial Reporting > > Corporate Accounting > > Accounting Analytics > > Commercial Law > > Auditing and Assurance Services > > Business Association Law > > Applied Foundations of Finance > > Business Economics > > Introductory Statistics for Business and Finance STRUC TURE TY PIC AL F UL L - TIME PAT T E R N OF S T UDY Year Semester 1 1 Financial Statements & Reporting Applied Foundations of Finance Introductory Statistics for Business & Finance Commercial Law K EY L EARNING O UTC O MES > > Demonstrate accounting knowledge in a business context and understanding of recent developments in accounting.

> > Exercise judgement under minimal supervision to analyse and provide possible solutions to varied accounting problems. > > Critically apply accounting knowledge and skills to evaluate a range of accounting problems in a professional context.

> > Communicate accounting ideas to both specialists and non- specialists. To meet the education requirements for associate membership with both CPA Australia and Chartered Accountants Australia and New Zealand, and for entry into the Chartered Accountants Australia and New Zealand CA program, a student must hold one of the following ANU degrees: > > Master of Accounting > > Master of Professional Accounting with passes in: > > Financial Statements and Reporting > > Accounting Information Systems > > Management Accounting and Cost Analysis > > Business Association Law > > Corporate Accounting > > Commercial Law > > Contemporary Issues in Accounting > > Applied Foundations of Finance > > Introductory Statistics for Business and Finance > > Business Economics > > Taxation Law > > Auditing and Assurance Services* * Students have the option of completing Auditing and Assurance Services at university OR in the CPA Program.

PRO F ESSIO NAL ACC REDITATIO N S MASTER OF COMMERCE (A D VA NCED ) Program code: VCOMM CRICOS code: 093294M Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time K E Y LEARNI NG OUTCOMES > > Integrate advanced theoretical and technical accounting knowledge in a business context, including issues in accounting research and research methods in accounting.

> > Exercise independent judgement to analyse and provide possible solutions to emerging and advanced accounting problems in complex contexts using, where appropriate, social, ethical, economic, regulatory, sustainability, governance and/or global perspectives. > > Critically apply advanced theoretical and technical accounting knowledge and research-based skills to evaluate emerging and advanced accounting problems, and to conduct a research-based project. > > Justify and communicate accounting ideas and theoretical issues to both specialists and non-specialists.

The program consists of 96 units, comprising: 66 units from the following list: > > Contemporary Issues in Accounting > > Financial Statements and Reporting > > Corporate Accounting > > Commercial Law > > Analysis of Financial Reporting > > Seminar in Research Method in Commerce > > Master’s subthesis (Commerce) (24 units) > > Introductory Statistics for Business and Finance 18 units from the following list: > > Public Sector Accounting and Reporting > > Sustainability and Corporate Social Responsibility, Accountability and Reporting > > Taxation Law > > Management Accounting and Cost Analysis > > Financial Statement Analysis > > Corporate Financial Reporting > > Accounting Analytics > > Auditing and Assurance Services > > Business Association Law > > Business Economics 6 units from completion of either: > > Econometrics 1: Econometric Methods or > > Regression Modelling 6 units from the following list: > > Advanced Managerial Decision Making > > Special Topics in Commerce > > Taxation Concepts and Issues > > Corporate Governance: Research Preparation > > Advanced Auditing and Assurance Services S T RUCT U RE TYPICAL FULL-TIME PATTERN OF STUDY Year Semester 1 Semester 2 1 Financial Statements & Reporting Commercial Law Business Economics Introductory Statistics for Business & Finance Management Accounting & Cost Analysis Business Association Law Corporate Accounting Contemporary Issues in Accounting 2 Seminar in Research Method in Commerce Analysis of Financial Reporting Econometrics 1: Econometric Methods Master’s subthesis (6 units) Master’s subthesis (18 units) Special Topics in Commerce Students must pass and achieve a minimum 70% weighted average mark in the first 48 units attempted to remain enrolled in the Master of Commerce (Advanced).

If the total number of units attempted exceeds 48 in the same teaching period in which the 48th unit is attempted, exactly 48 units will be used in the calculation of the weighted average mark with units from the course with the highest mark applied first followed by further units from course in descending order of marks. Students who do not achieve a minimum of 70% weighted average mark will be transferred to the Master of Accounting or Master of Professional Accounting program. P ROGRESSI ON STANDARD 22 23 2019 Postgraduate Guide ANU College of Business & Economics

Overview Actuarial studies The Master of Actuarial Studies and Master of Actuarial Practice both enable students to undertake courses that cover some of the education requirements of the Actuaries Institute.

Both programs also present the opportunity for students with prior study in the discipline to extend their knowledge to an advanced academic level. Please see cbe.anu.edu.au/about/professional-organisations-accreditation/actuaries-ins titute-australia for information about the ANU accreditation agreement with the Actuaries Institute.

Statistics For students seeking a career in statistics, or who are already working in the field and wish to enhance their professional expertise, the Master of Statistics provides a sequence of courses covering basic statistical skills combined with more advanced study in areas such as statistical learning, big data statistics, graphical data analysis, generalised linear modelling and biostatistics. Introductory program in actuarial studies and statistics The Graduate Certificate of Finance and Actuarial Statistics provides a sequence of foundation courses in one of four areas: Actuarial Statistics, Actuarial Studies, Statistics or Finance.

This program is built around a 24-unit (four-course) specialisation— see page 31.

Entry requirements Entry into the Graduate Certificate of Finance and Actuarial Statistics requires students to have completed an Australian bachelor degree with a minimum grade point average (GPA) of 4.5/7, or the international equivalent. All other programs require a minimum GPA of 5.0/7. For direct entry into the Master of Actuarial Practice, Master of Actuarial Studies, and Master of Statistics, students must have completed at least one course at bachelor level in the field of mathematics covering calculus and linear algebra, in addition to meeting the average grade requirements.

Students who do not have this mathematics knowledge can enrol in the Graduate Certificate of Finance and Actuarial Statistics and select Mathematical Foundations for Actuarial Studies as one of their courses in either the Actuarial Statistics or Statistics specialisations.

All students must also satisfy the university’s English language admission requirements—see page 67. Credit and articulation arrangements Applicants with a bachelor degree in a cognate discipline, or with the relevant graduate certificate, may be eligible for 24 units (one semester full-time) of credit. Applicants with an honours degree in a cognate discipline, or with the relevant graduate diploma, may be eligible for 48 units (one year full-time) of credit.

Cognate disciplines Finance, Accounting, Business, Economics, Statistics, Actuarial Studies, Mathematics, Business Information Systems, Management, International Business, Engineering, Physics, Science. Our programs > > Master of Actuarial Practice > > Master of Actuarial Studies > > Master of Statistics > > Graduate Certificate of Finance and Actuarial Statistics The closely aligned disciplines of actuarial studies and statistics present excellent opportunities for careers in a wide range of workplaces. Qualified actuaries and statisticians are in high demand around the world and can command high salaries.

Graduate study in actuarial studies and statistics provides options both for those with prior study in the disciplines and those seeking to move into a new field. Actuarial studies and statistics Professional accreditation gstat Graduate Statistician 25 2019 Postgraduate Guide 24 ANU College of Business & Economics

I chose to pursue a Master of Actuarial Studies to further my ambition of becoming a qualified actuary, and have found that the skills developed through my studies have been applicable in the workplace. It has enabled me to apply quantitative modelling and analysis to inform decision- making and solve a range of business problems for government departments and businesses. Shonal Dutt Master of Actuarial Studies Actuarial Consultant, EY Photo 1: Australian National University 27 2019 Postgraduate Guide 26 ANU College of Business & Economics

MAST E R OF ACT UARIAL ST UDIES Program code: 7410XMACTS CRICOS code: 050802G Commencement: Semester 1 (Feb) only Duration: Two years full-time, four years part-time TY PICAL F UL L - TIME PAT T E R N OF S T UDY Year Semester 1 Semester 2 1 Principles of Mathematical Statistics Financial Mathematics Elective Elective Actuarial Techniques Elective Introduction to Stochastic Processes Life Contingencies 2 Actuarial Control Cycle 1 Risk Theory Survival Models Advanced course Actuarial Control Cycle 2 Investment & Asset Modelling Credibility Theory Advanced course The program consists of 96 units, comprising: Core courses 66 units of compulsory courses: > > Principles of Mathematical Statistics > > Life Contingencies > > Actuarial Techniques > > Financial Mathematics > > Introduction to Stochastic Processes > > Survival Models > > Risk Theory > > Credibility Theory > > Investment and Asset Modelling > > Actuarial Control Cycle 1 > > Actuarial Control Cycle 2 Plus 12 units from the following list: > > Advanced Insurance > > Enterprise Risk Management 1 > > Enterprise Risk Management 2 > > Advanced Investments Elective courses 18 units to be taken from level 6000, 7000 or 8000 courses from the ANU College of Business and Economics, in the following subject areas: > > Actuarial Studies > > Business > > Economic History > > Economics > > Econometrics > > Financial Management > > Management > > Marketing > > International Business > > Statistics STRUC TURE K EY L EARNING O UTC O MES Graduates of this program will be able to: > > demonstrate a superior understanding of the key concepts in actuarial studies and techniques > > demonstrate high levels of cognitive and technical skill in analysing specific business situations to apply the correct actuarial techniques > > demonstrate the cognitive and technical skills, and the critical thinking, to solve specific actuarial problems > > communicate concisely, accurately and confidently in a number of different mediums, including written and oral > > have strong technical research skills to justify and interpret actuarial research planning, methodology and implementation.

MASTER OF ACTUARIAL P RA CTICE Program code: 7420XMACTP CRICOS code: 079658E Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two and a half years full-time, five years part-time TYPICAL FULL-TIME PATTERN OF STUDY Year Semester 1 Semester 2 1 Principles of Mathematical Statistics Financial Mathematics Applied Foundations of Finance Financial Statements & Reporting Actuarial Techniques Applied Corporate Finance Introduction to Stochastic Processes Life Contingencies 2 Actuarial Control Cycle 1 Risk Theory Applied Derivatives Advanced course Actuarial Control Cycle 2 Investment & Asset Modelling Credibility Theory Advanced course 3 Business Economics Survival Models Applied Investments Continuous Time Finance The program consists of 120 units, comprising: Core courses 66 units of compulsory courses: > > Principles of Mathematical Statistics > > Life Contingencies > > Actuarial Techniques > > Financial Mathematics > > Introduction to Stochastic Processes > > Survival Models > > Risk Theory > > Credibility Theory > > Investment and Asset Modelling > > Actuarial Control Cycle 1 > > Actuarial Control Cycle 2 Plus 12 units from the following list: > > Advanced Insurance > > Enterprise Risk Management 1 > > Enterprise Risk Management 2 > > Advanced Investments Elective courses 42 units from the following list: > > Financial Statements and Reporting > > Business Economics > > Continuous Time Finance > > Applied Foundations of Finance > > Applied Corporate Finance > > Applied Investments > > Applied Derivatives > > Research essay in Actuarial Studies (6 or 12 units) S T RUCT U RE K E Y LEARNI NG OUTCOMES Graduates of this program will: > > possess the necessary cognitive skills to demonstrate a superior understanding of the key concepts in actuarial studies and related fields > > be able to demonstrate high levels of cognitive and technical skill in analysing and interpreting specific business situations so that the correct actuarial techniques can be applied > > be able to demonstrate high levels of cognitive and technical skills as well as critical thinking to solve specific actuarial problems > > have strong communication skills, being able to demonstrate the ability to communicate concisely, accurately and confidently in a number of different mediums, including written and oral > > have strong technical research skills to justify and interpret actuarial research planning, methodology and implementation.

Students must achieve a minimum 60% weighted average mark in the first 48 units of courses attempted in order to remain enrolled in the Master of Actuarial Practice. Students who do not achieve a minimum of 60% weighted average mark in the first 48 units will be transferred to the Graduate Diploma in Business. If the total number of units attempted exceeds 48 in the same teaching period in which the 48th unit is attempted, exactly 48 units will be used in the calculation of the weighted average mark with units from the course with the highest mark applied first followed by further units from courses in descending order of marks.

P ROGRESSI ON STANDARD Students must achieve a minimum 60% weighted average mark in the first 48 units of courses attempted in order to remain enrolled in the Master of Actuarial Studies. Students who do not achieve a minimum of 60% weighted average mark in the first 48 units will be transferred to the Graduate Diploma in Business. PRO G RESSIO N STANDARD The program information below is current for students commencing in 2018. The ANU Master of Actuarial Practice is being redeveloped for 2019 because of changes to the Actuaries Institute education program. Please see the programs and courses website for the most recent information about the Master of Actuarial Practice.

Please refer to the Actuaries Institute website for information about the requirements to become an Associate or Fellow of the Actuaries Institute. Note that the new Associateship requirements include taking certain courses directly with the Actuaries Institute.

The program information below is current for students commencing in 2018. The ANU Master of Actuarial Studies is being redeveloped for 2019 because of changes to the Actuaries Institute education program. Please see the programs and courses website for the most recent information about the Master of Actuarial Studies. Please refer to the Actuaries Institute website for information about the requirements to become an Associate or Fellow of the Actuaries Institute. Note that the new Associateship requirements include taking certain courses directly with the Actuaries Institute.

28 29 2019 Postgraduate Guide ANU College of Business & Economics

GRADUAT E CE R T IFICAT E OF FINANCE AND ACT UARIAL STAT IST ICS Program code: CFAS CRICOS code: 082257G Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Six months full-time, one year part-time STRUCT UR E Students must select one of the following 24- unit (four-course) specialisations: > > Actuarial Statistics* > > Actuarial Studies* > > Finance* > > Statistics* MASTER OF STATISTICS Program code: MSTAT CRICOS code: 082353G Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time TYPICAL FULL-TIME PATTERN OF STUDY Year Semester 1 Semester 2 1 Econometric Methods & Modelling Principles of Mathematical Statistics Regression Modelling Fundamentals of Econometric Methods Generalised Linear Models Applied Statistics Graphical Data Analysis Introduction to Stochastic Processes 2 Biostatistics Statistical Learning Applied Time Series Analysis Statistical Inference Big Data Statistics Introduction to Bayesian Data Analysis Credibility Theory Advanced Mathematical Statistics The program consists of 96 units, comprising: 48 units of compulsory courses: > > Regression Modelling > > Principles of Mathematical Statistics > > Statistical Inference > > Generalised Linear Models > > Statistical Learning > > Introduction to Stochastic Processes > > Applied Statistics > > Graphical Data Analysis A minimum of 24 units from the following list: > > Survival Models > > Biostatistics > > Applied Time Series Analysis > > Advanced Stochastic Processes > > Stochastic Modelling > > Design of Experiments and Surveys > > Big Data Statistics > > Introduction to Bayesian Data Analysis > > Risk Theory > > Credibility Theory > > Advanced Mathematical Statistics A maximum of 24 units from level 6000, 7000 and 8000 courses in the following subject areas: > > Statistics > > Econometrics > > Mathematics > > Computing > > Actuarial Studies > > Financial Management S T RUCT U RE K E Y LEARNI NG OUTCOMES Graduates of the Master of Statistics will be able to: > > demonstrate statistical computing skills for use in quantitative and data-based problem-solving > > understand and be able to apply the processes and applications of multiple linear regression, survey design, mathematical statistics, stochastic modelling, generalised linear modelling techniques, the principles of data representation, summarisation and presentation, multivariate statistical techniques, and the role and notion of both parametric and non-parametric statistics > > analyse complex problems by running and interpreting time series models involving dynamic volatility and/or trends > > analyse and interpret data in various contexts using the appropriate methodology > > demonstrate fundamental research skills, such as data collection, data processing, and model estimation and interpretation in applied statistics.

K EY L EARNING O UTC O MES Graduates of the Graduate Certificate of Finance and Actuarial Statistics will be able to: > > recognise the important role of financial, actuarial and statistical principles and their application > > demonstrate the necessary analytical skills for interpreting and analysing financial, actuarial and statistical information > > demonstrate well-developed insight into Australian and international financial markets. > > justify and communicate the necessary management skills for dealing with organisations, teams and policy issues, so as to be able to work independently and collaboratively to collect, process, interpret and communicate the outcomes of financial, actuarial and statistical problems > > demonstrate the skills necessary to critically engage with and evaluate financial, actuarial and statistical problems.

AC TUARIAL STATISTICS Students must complete 24 units from the following list: > > Continuous Time Finance > > Applied Investments > > Applied Derivatives > > Principles of Mathematical Statistics > > Life Contingencies > > Actuarial Techniques > > Financial Mathematics > > Survival Models > > Introduction to Stochastic Processes > > Risk Theory > > Credibility Theory > > Mathematical Foundations for Actuarial Studies* AC TUARIAL STUDIES Students must complete 12 units from the following list: > > Control Cycle 1 > > Control Cycle 2 > > Investment and Asset Modelling > > Advanced Life Insurance > > Advanced General Insurance > > Advanced Global Retirement Income Systems > > Research essay in Actuarial Studies > > Advanced Investments and a maximum of 12 units from the following list: > > Financial Statements and Reporting > > Business Economics > > Continuous Time Finance > > Applied Foundations of Finance > > Applied Corporate Finance > > Applied Investments > > Applied Derivatives > > Principles of Mathematical Statistics > > Life Contingencies > > Actuarial Techniques > > Financial Mathematics > > Survival Models > > Introduction to Stochastic Processes > > Risk Theory > > Credibility Theory F INANC E Students must complete 24 units from the following list: > > Financial Statements and Reporting > > Business Economics > > Applied Foundations of Finance > > Applied Corporate Finance > > Applied Investments > > Applied Derivatives > > Applied Valuation > > Advanced Corporate Finance > > Advanced Investments > > Topics in International Finance > > Derivatives: Markets, Valuation and Risk Management > > Applied Financial Intermediation and Debt Markets > > Applied Portfolio Construction > > Trading and Markets > > Applied project in Finance > > Financial Mathematics > > Introductory Statistics for Business and Finance STATI S T I CS Students must complete 24 units from the following list: > > Economic Models and Introductory Econometrics > > Business and Economic Forecasting > > Regression Modelling > > Principles of Mathematical Statistics > > Life Contingencies > > Actuarial Techniques > > Financial Mathematics > > Applied Statistics > > Introduction to Stochastic Processes > > Graphical Data Analysis > > Design of Experiments and Surveys > > Generalised Linear Models > > Survival Models > > Introductory Statistics for Business and Finance > > Applied Time Series Analysis > > Biostatistics > > Statistical Inference > > Risk Theory > > Credibility Theory > > Applied research essay > > Advanced Mathematical Statistics > > Mathematical Foundations for Actuarial Studies* > > Applied Foundations of Finance * Students without the requisite mathematics training for direct entry into one of the master programs in Actuarial Studies or Statistics are advised to select Mathematical Foundations for Actuarial Studies to be eligible for articulation into one of those programs.

Photo 1: Australian National University 30 31 2019 Postgraduate Guide ANU College of Business & Economics

Flagship program > > Master of Business Administration Our programs > > Master of Business Information Systems > > Master of Project Management > > Master of International Management > > Master of Entrepreneurship and Innovation > > Master of Leadership > > Master of Marketing Management > > Graduate Certificate of Management We offer nine graduate programs designed for students wanting to: > > prepare for the next level of leadership > > enhance their management skills, or > > take on the challenges of entrepreneurship.

These programs are professionally oriented, evidence-based courses of study, delivered through intimate, interactive seminars and tutorials. Business and management Overview Evidence-based management programs Working with the Center for Evidence-Based Management in the Netherlands, ANU is among the first institutions in the world to adopt an evidence-based management (EBM) approach to business education.

ANU EBM approach focuses on creating future-ready leaders who have deep disciplinary knowledge and understanding to solve today’s problems, and a unique set of analytical skills that enable them to identify, evaluate and apply the best available evidence in order to respond to tomorrow’s challenges—whatever they look like. To learn more about our EBM approach to business education, please visit www.future-ready.com.au. RSM Orientation Week program RSM have introduced a tailored Orientation Week program run each semester for our new postgraduate students. This tailored program is designed to introduce students to their peers, and provide specific information pertinent to studying a postgraduate program at the ANU Research School of Management.

Evidence-based management is foundational to all our programs and this, along with other facets of our teaching, are introduced during this week. Further information is available on enrolment. Entry requirements Entry into the Graduate Certificate of Management requires students to have completed an Australian bachelor degree with a minimum grade point average (GPA) of 4.0/7, or the international equivalent. All other programs require a minimum GPA of 5.0/7. MBA and MBA (Advanced) programs have additional entry requirements—see page 36. All students must also satisfy the university’s English language admission requirements—see page 67.

Advanced programs RSM masters programs have advanced versions that have higher entry and progression requirements. Program duration is 96 units, two years full-time, with the final 24 units being a research thesis. Note: The MBA program is 72 units, and the MBA (Advanced) program is 96 units.

Program duration and credit Applicants with a bachelor degree or graduate certificate in a cognate discipline may be eligible for a 24-unit (six-month full-time equivalent) credit for prior learning. A further reduction of up to 24 units may be available for those with a graduate diploma or higher degree in a cognate discipline. Credits for prior learning do not apply to the MBA program. Professional accreditation 33 2019 Postgraduate Guide 32 ANU College of Business & Economics

I chose an MBA at ANU specifically as it’s an internationally recognised postgraduate degree that I can take with me into a diverse range of industries, areas of work, and even countries.

I found the MBA to be a good mix of theoretical and practical knowledge and have already been able to apply what I have learnt in the workplace. Grace Huang Master of Business Administration Project Officer, Department of Agriculture and Water Resources Photo: Holly Treadaway 34 35 2019 Postgraduate Guide ANU College of Business & Economics

MASTER OF BUSINESS AD M INIS TRATION Program code: MBADM CRICOS code: 091188G Commencement: Semester 1 (Feb) Duration of MBA: One and a half years full-time, three years part-time Duration of MBA (Advanced): Two years full-time, four years part-time TYPICAL FULL-TIME PATTERN OF STUDY Year Semester 1 Semester 2 1 Evidence-Based Management Managing in a Global Context Marketing & Stakeholder Communication Technology & Project Management Financial Reporting & Analysis Leading People & Change Organisational Behaviour Strategic Management 2 Business Economics Applied Foundations of Finance Managing for Sustainability Entrepreneurship & Innovation Optional thesis Optional thesis Optional thesis Optional thesis The MBA program consists of 72 units of compulsory courses, comprising 24 units from the Management Core, 24 units of Management Essentials and 24 units of Business Essentials.

There is also the option for high-performing students with a distinction (70 per cent) grade average to extend their MBA studies by undertaking a thesis component. Students who successfully complete the 24-unit optional thesis component will be awarded an MBA (Advanced). S T RUCT U RE K E Y LEARNI NG OUTCOMES Upon successful completion, graduates will have the knowledge and skills to: > > evaluate and synthesise evidence to inform decision-making > > create opportunities and novel solutions to organisational challenges > > work effectively with others to resolve challenges > > adapt to complex and uncertain situations > > engage, inform and influence stakeholders > > incorporate the influence of a changing global environment > > model ethical behaviour and make principled decisions > > integrate professional knowledge and skills from fellow middle managers.

{ }MBA (Advanced) option Minimum five years work experience (including at least three years documented management experience). With one of the following qualifications or test: Either: A bachelor degree or international equivalent with a minimum grade point average (GPA) of 5/7. Or: An ANU Graduate Certificate of Management with a minimum GPA of 5/7. Or: A minimum Graduate Management Admission Test (GMAT) score of 600 or higher. All applicants must meet the university’s English language admission requirements for students—see page 67.

ENTRY REQUIREMENTS MAST ER OF BUSINE SS INFORMAT ION SY STEMS Program code: MBINS CRICOS code: 050796M Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time TY PICAL F UL L - TIME PAT T E RN OF S T UDY Year Semester 1 Semester 2 1 Evidence-Based Management Managing in a Global Context Marketing & Stakeholder Communication Technology & Project Management Accounting Information Systems Relational Databases Digital Transformations Intelligent Business Analysis: Models, Processes & Techniques 2 Business Analytics for Managers Networked Information Systems Enterprise Systems & Strategy Digital Strategy, Executive & Operations Elective or specialisation Elective or specialisation Elective or specialisation Elective or specialisation STRUCTURE K EY L EARN ING O UTC O MES Upon successful completion, graduates will possess the knowledge and skills to: > > evaluate and synthesise evidence to inform decision-making > > create opportunities and novel solutions to organisational challenges > > work effectively with others to resolve challenges > > adapt to complex and uncertain situations > > engage, inform and influence stakeholders > > incorporate the influence of a changing global environment > > model ethical behaviour and make principled decisions > > apply specialised knowledge and skills in the area of business information systems.

The program consists of 96 units, comprising 24 units from the Management Core, 24 units from Computing Essentials, 24 units from the Business Information Systems specialisation, and either 24 units from completion of one of the following specialisations: > > Entrepreneurship and Innovation > > International Business > > Leadership > > Marketing > > Project Management or 24 units of electives, subject to individual course prerequisites. There is also the option for high-performing students with a distinction (70 per cent) grade average to extend their studies by undertaking a thesis component.

Students who successfully complete the 24-unit optional thesis component will be awarded an MBIS (Advanced). Photo: Paper Monkey 36 37 2019 Postgraduate Guide ANU College of Business & Economics

MASTER OF ENTREPREN EU RS HIP A ND INNOVATIO N Program code: MEINV CRICOS code: 091185K Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time TYPICAL FULL-TIME PATTERN OF STUDY Year Semester 1 Semester 2 1 Evidence-Based Management Managing in a Global Context Marketing & Stakeholder Communication Technology & Project Management Entrepreneurship & Innovation Leading People & Change Organisational Behaviour Strategic Management 2 Innovation Applied Entrepreneurship & Innovation New Venture Creation Business Growth Strategies Specialisation 2, elective or thesis Specialisation 2, elective or thesis Specialisation 2, elective or thesis Specialisation 2, elective or thesis The Master of Entrepreneurship and Innovation requires the completion of 96 units, which must consist of 24 units from the Management Core, 24 units from Management Essentials, 24 units from the Entrepreneurship and Innovation specialisation, and either 24 units from completion of one of the following specialisations: > > Business Information Systems > > International Business > > Leadership > > Marketing > > Project Management or 24 units of electives, subject to individual course prerequisites.

There is also the option for high-performing students with a distinction (70 per cent) grade average to extend their studies by undertaking a thesis component. Students who successfully complete the 24-unit optional thesis component will be awarded an MEINV (Advanced). S T RUCT U RE K E Y LEARNI NG OUTCOMES Upon successful completion, graduates will have the knowledge and skills to: > > evaluate and synthesise evidence to inform decision-making > > create opportunities and novel solutions to organisational challenges > > work effectively with others to resolve challenges > > adapt to complex and uncertain situations > > engage, inform and influence stakeholders > > incorporate the influence of a changing global environment > > model ethical behaviour and make principled decisions > > apply specialised knowledge and skills in the area of entrepreneurship and innovation.

MAST ER OF INT E RNAT IONAL MANAGEMENT Program code: MIMGT CRICOS code: 088059J Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time TY PICAL F UL L - TIME PAT T E R N OF S T UDY Year Semester 1 Semester 2 1 Evidence-Based Management Managing in a Global Context Marketing & Stakeholder Communication Technology & Project Management Entrepreneurship & Innovation Leading People & Change Organisational Behaviour Strategic Management 2 Managing Across Cultures Managing the Global Supply Chain International Business Strategies Asian Business Systems, or The European Business System Specialisation 2, elective or thesis Specialisation 2, elective or thesis Specialisation 2, elective or thesis Specialisation 2, elective or thesis The program consists of 96 units, comprising 24 units of courses from the Management Core, 24 units from Management Essentials, 24 units from the International Business specialisation, and either 24 units from completion of one of the following specialisations: > > Business Information Systems > > Entrepreneurship and Innovation > > Leadership > > Marketing > > Project Management or 24 units of electives, subject to individual course prerequisites.

There is also the option for high-performing students with a distinction (70 per cent) grade average to extend their studies by undertaking a thesis component. Students who successfully complete the 24-unit optional thesis component will be awarded an MIMGT (Advanced). STRUCTURE K EY L EARN ING O UTC O MES Upon successful completion, graduates will have the knowledge and skills to: > > evaluate and synthesise evidence to inform decision-making > > create opportunities and novel solutions to organisational challenges > > work effectively with others to resolve challenges > > adapt to complex and uncertain situations > > engage, inform and influence stakeholders > > incorporate the influence of a changing global environment > > model ethical behaviour and make principled decisions > > apply specialised knowledge and skills in the area of international business.

Photos: Australian National University 38 39 2019 Postgraduate Guide ANU College of Business & Economics

MAST E R OF MARKET ING MANAGEMENT Program code: MMKMT CRICOS code: 091184M Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time TY PICAL F UL L - TIME PAT T E R N OF S T UDY Year Semester 1 Semester 2 1 Evidence-Based Management Managing in a Global Context Marketing & Stakeholder Communication Technology & Project Management Entrepreneurship & Innovation Leading People & Change Organisational Behaviour Strategic Management 2 Brand Strategy Consumer Behaviour & Analysis Digital Marketing Communications Applied Market Research Specialisation 2, elective or thesis Specialisation 2, elective or thesis Specialisation 2, elective or thesis Specialisation 2, elective or thesis The program consists of 96 units, comprising 24 units from the Management Core, 24 units from Management Essentials, 24 units from the Marketing specialisation, and either 24 units from completion of one of the following specialisations: > > Business Information Systems > > Entrepreneurship and Innovation > > Marketing > > International Business > > Leadership > > Project Management or 24 units of electives, subject to individual course prerequisites.

There is also the option for high-performing students with a distinction (70 per cent) grade average to extend their studies by undertaking a thesis component. Students who successfully complete the 24-unit optional thesis component will be awarded an MMKMT (Advanced). STRUC TURE K EY L EARNING O UTC O MES Upon successful completion, graduates will possess the knowledge and skills to: > > evaluate and synthesise evidence to inform decision-making > > create opportunities and novel solutions to organisational challenges > > work effectively with others to resolve challenges > > adapt to complex and uncertain situations > > engage, inform and influence stakeholders > > incorporate the influence of a changing global environment > > model ethical behaviour and make principled decisions.

MASTER OF LEADERSHIP Program code: MLEAD CRICOS code: 091186J Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time TYPICAL FULL-TIME PATTERN OF STUDY Year Semester 1 Semester 2 1 Evidence-Based Management Managing in a Global Context Marketing & Stakeholder Communication Technology & Project Management Entrepreneurship & Innovation Leading People & Change Organisational Behaviour Strategic Management 2 Delivering Team Results Thought Leadership in Organisations Building Individual Leadership Capacity Leadership & Delivering Societal Impact Specialisation 2, elective or thesis Specialisation 2, elective or thesis Specialisation 2, elective or thesis Specialisation 2, elective or thesis The program consists of 96 units, comprising 24 units of courses from the Management Core, 24 units from Management Essentials, 24 units from the Leadership specialisation, and either 24 units from completion of one of the following specialisations: > > Business Information Systems > > Entrepreneurship and Innovation > > Marketing Specialisation > > International Business > > Project Management or 24 units of electives, subject to individual course prerequisites.

There is also the option for high-performing students with a distinction (70 per cent) grade average to extend their studies by undertaking a thesis component. Students who successfully complete the 24-unit optional thesis component will be awarded an MLEAD (Advanced). S T RUCT U RE K E Y LEARNI NG OUTCOMES Upon successful completion, graduates will possess the knowledge and skills to: > > evaluate and synthesise evidence to inform decision-making > > create opportunities and novel solutions to organisational challenges > > work effectively with others to resolve challenges > > adapt to complex and uncertain situations > > engage, inform and influence stakeholders > > incorporate the influence of a changing global environment > > model ethical behaviour and make principled decisions > > apply specialised knowledge and skills in the area of leadership.

Photos: Australian National University 40 41 2019 Postgraduate Guide ANU College of Business & Economics

MASTER OF PROJECT MA NA GEM ENT Program code: MPROM CRICOS code: 082344G Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time The program consists of 96 units, comprising 24 units from the Management Core, 48 units from the Project Management specialisation, and 24 units from completion of one of the following specialisations: > > Business Information Systems > > Entrepreneurship and Innovation > > Marketing > > International Business > > Leadership or 24 units of electives, subject to individual course prerequisites. There is also the option for high-performing students with a distinction (70 per cent) grade average to extend their studies by undertaking a thesis component.

Students who successfully complete the 24-unit optional thesis component will be awarded an MPROM (Advanced). S T RUCT U RE K E Y LEARNI NG OUTCOMES Graduates will possess the skills and knowledge to: > > initiate, plan, execute, evaluate and close projects that deliver the agreed scope within time and budget constraints > > manage large and complex projects from start to finish > > report on project status to external stakeholders > > analyse and explain the links between projects and business strategy > > articulate the link between theory, including the latest project management research and best practice.

TYPICAL FULL-TIME PATTERN OF STUDY Year Semester 1 Semester 2 1 Evidence-Based Management Marketing & Stakeholder Communication Managing in a Global Context Technology & Project Management Financial Reporting & Analysis Leading People & Change Elective Elective 2 Tools & Techniques for Business Project Management Project Monitoring and Control Managing Major Projects Introduction to Systems Engineering Project Risk & Issue Management A Management Framework for Business Projects Elective Elective GRADUAT E CE R T IFICAT E OF MANAGE ME NT Program code: GCMGT CRICOS code: 030000G Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Six months full-time, one year part-time The program consists of 24 units of courses from the Management Core.

STRUC TURE K EY L EARNING O UTC O MES > > Evaluate and reflect on evidence to inform decision-making. > > Explore opportunities and novel solutions to challenges. > > Work effectively with others to resolve challenges. > > Adapt to complex and uncertain situations. > > Engage, inform and influence stakeholders. > > Incorporate the influence of a changing global environment. > > Demonstrate ethical behaviour and make principled decisions. TY PICAL F UL L - TIME PAT T E R N OF S T UDY Year Semester 1 1 Evidence-Based Management Marketing & Stakeholder Communications Managing in a Global Context Technology & Project Management Photo: Australian National University 42 43 2019 Postgraduate Guide ANU College of Business & Economics

Studying at ANU gave me access to opportunities that I mightn’t otherwise have had, and allowed me to benefit from the instruction of experienced industry professionals. Anna Cyran Master of Project Management Consultant, EY Photo: Australian National University 44 45 2019 Postgraduate Guide ANU College of Business & Economics

Our programs > > Master of Economics > > Master of Applied Economics > > Master of Economic Policy > > Graduate Diploma of Economics > > Graduate Certificate of Economics ANU has long been recognised as one of the leading centres in the world for economics research and education.

Many leading professional economists, public servants, politicians and academics have undertaken graduate study in economics at ANU, in particular in the Master of Economics, one of the longest standing and most highly respected postgraduate degrees in Australia.

Economics Overview Economics Each of our master’s programs is built upon a common initial component of 48 units, usually completed in one year of full-time study. These eight courses are identical to the Graduate Diploma of Economics. The second component of each master’s program allows students to focus their study in a particular area, including economic policy, applied economics and economic theory. The 24-unit (four-course) Graduate Certificate of Economics can comprise four of the required courses for the graduate diploma, allowing students achieving a sufficient grade standard to articulate into the diploma or a master’s program.

Entry requirements Entry into the Graduate Certificate of Economics or the Graduate Diploma of Economics requires students to have completed an Australian bachelor degree with a minimum grade point average (GPA) of 4.0/7, or the international equivalent. Entry into the Master of Applied Economics or the Master of Economic Policy requires students to have completed an Australian bachelor degree with a minimum GPA of 4.5/7, or the international equivalent. Entry into the Master of Economics requires students to have completed an Australian bachelor degree with a minimum GPA of 5.0/7, or the international equivalent.

All students must also satisfy the university’s English language admission requirements—see page 67. Applicants with a bachelor degree in economics or the Graduate Certificate of Economics may be eligible for 24 units (one semester full-time) of credit into the master’s programs or the graduate diploma. Entry in the first or in the second semester is possible. Applicants who have completed either an ANU honours degree in Economics or the Graduate Diploma of Economics may be eligible for 48 units (one year full-time) of credit.

I used my time at ANU to not only gain a world- class education, but to also develop my networks.

The best part about studying at ANU was its community. I’ve learnt so much from these scholars who came to ANU from all parts of the world and from all walks of life. Shubham Singh Master of Economic Policy Photo: Australian National University 47 2019 Postgraduate Guide 46 ANU College of Business & Economics

I chose to enrol in the Master of Economics (MEc) at the Australian National University because it is one of the best programs in Australia. The rigour of the MEc has allowed me to further develop my critical analysis and quantitative analysis skills, which has been valuable in undertaking various analytical projects in my role as adviser at the Department of the Prime Minister and Cabinet. Michelle Le Master of Economics Adviser, Department of the Prime Minister and Cabinet Photo: Holly Treadaway 48 49 2019 Postgraduate Guide ANU College of Business & Economics

MASTER OF APPLIED EC O NOM ICS Program code: MAPEC CRICOS code: 082269C Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time TYPICAL FULL-TIME PATTERN OF STUDY Year Semester 1 Semester 2 1 Microeconomic Analysis Macroeconomic Analysis Mathematical Techniques for Economic Analysis Introductory Statistics for Business & Finance Optimisation for Economics and Financial Economics Advanced Microeconomic Analysis Advanced Macroeconomic Analysis Econometric Methods & Modelling 2 Applied micro-econometrics 3 x electives Case Studies in Applied Economic Analysis & Econometrics Business & Economic Forecasting 2 x electives The program consists of 96 units, which comprise an initial component of 48 units of compulsory courses and a concluding component of 48 units made up of a combination of compulsory and elective elements.

Initial component > > Optimisation for Economics and Financial Economics > > Microeconomic Analysis > > Macroeconomic Analysis > > Advanced Microeconomic Analysis > > Advanced Macroeconomic Analysis > > Mathematical Techniques for Economic Analysis > > Econometric Methods and Modelling > > Introductory Statistics for Business and Finance Concluding component 12 units of compulsory courses: > > Case Studies in Applied Economic Analysis and Econometrics > > Business and Economic Forecasting 6 units from the following: > > Applied Micro-econometrics > > Applied Macro and Financial Econometrics 30 units from the following list: > > Advanced Topics in Poverty, Public Policy and Development > > Classic Works of Economic Theory > > Topics in Macroeconomics > > Applied Welfare Economics > > Economic Policy Issues > > International Trade Theory > > Japanese Economy and Economic Policy > > International Monetary Economics > > The Economics of Taxation and Redistribution > > Mathematical Techniques in Economics II > > International Economics > > Cost–Benefit Analysis > > Topics in Microeconomic Theory > > Public Sector Economics (G) > > Financial Economics > > Industrial Organisation > > Health Economics > > Resource and Environmental Economics > > Labour Economics and Industrial Relations > > Law and Economics > > Southeast Asian Economic Policy and Development > > Economic Growth > > Game Theory > > Political Economy of Macroeconomic Policy > > The Economy, Politics and the State > > Applied Macro and Financial Econometrics > > Business and Economic Forecasting > > Fundamentals of Econometric Methods > > Computational Economics > > Economic Analysis of Digital Economy S T RUCT U RE K E Y LEARNI NG OUTCOMES Upon successful completion, students will have the skills and knowledge to: > > access the technical academic literature in most fields of study in applied economics and econometrics > > be capable of undertaking independent research in applied economics and econometrics at the graduate level and provide intuition for the results > > have the capacity to analyse the economic effects of policy changes in several fields of economics.

MAST E R OF ECONOMIC POLICY Program code: MECPO CRICOS code: 082289K Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time TY PICAL F UL L - TIME PAT T E R N OF S T UDY Year Semester 1 Semester 2 1 Microeconomic Analysis Macroeconomic Analysis Mathematical Techniques for Economic Analysis Introductory Statistics for Business & Finance Optimisation for Economics & Financial Economics Advanced Microeconomic Analysis Advanced Macroeconomic Analysis Econometric Methods & Modelling 2 Public Sector Economics 3 x electives Economic Policy Issues Case Studies in Applied Economic Analysis & Econometrics The Economy, Politics & the State Elective The program consists of 96 units, which comprise an initial component of 48 units and a concluding component of 48 units made up of a combination of compulsory and elective elements.

Initial component > > Microeconomic Analysis > > Macroeconomic Analysis > > Mathematical Techniques for Economic Analysis > > Introductory Statistics for Business and Finance > > Advanced Microeconomic Analysis > > Advanced Macroeconomic Analysis > > Optimisation for Economics and Financial Economics > > Econometric Methods and Modelling Concluding component 12 units of compulsory courses: > > Economic Policy Issues > > Case Studies in Applied Economic Analysis and Econometrics 6 units from the following list: > > Public Sector Economics > > The Economics of Taxation and Redistribution > > The Economy, Politics and the State > > Political Economy of Macroeconomic Policy 30 units from the following list: > > Advanced Topics in Poverty, Public Policy and Development > > Classic Works of Economic Theory > > Topics in Macroeconomics > > Applied Welfare Economics > > Economic Policy Issues > > International Trade Theory > > Japanese Economy and Economic Policy > > International Monetary Economics > > The Economics of Taxation and Redistribution > > Mathematical Techniques in Economics II > > International Economics > > Cost–Benefit Analysis > > Topics in Microeconomic Theory > > Public Sector Economics > > Financial Economics > > Industrial Organisation > > Health Economics > > Resource and Environmental Economics > > Labour Economics and Industrial Relations > > Law and Economics > > Southeast Asian Economic Policy and Development > > Economic Growth > > Game Theory > > Political Economy of Macroeconomic Policy > > The Economy, Politics and the State > > Applied Macro and Financial Econometrics > > Business and Economic Forecasting > > Fundamentals of Econometric Methods > > Computational Economics > > Economic Analysis of Digital Economy STRUC TURE K EY L EARNING O UTC O MES Graduates will have gained the skills and knowledge to: > > apply economics to policy formation and evaluation > > understand the issues involved in the coordination of economic policy at national and international levels > > access the academic literature on economic policy > > undertake independent research in economic theory at the graduate level and provide economic intuition about the results > > analyse the economic effects of policy changes and communicate them as a professional economist in business or government.

Students must achieve a minimum 65% weighted average mark in the following courses to continue to the concluding component: ECON8013 Mathematical Techniques in Economics I ECON8025 Diploma Microeconomics ECON8026 Diploma Macroeconomics EMET8005 Economic Models and Introductory Econometrics Students who do not achieve a minimum 65% weighted average markwill be transferred to the Master of Economic Policy or the Graduate Diploma of Economics P ROGRESSI ON STANDARD 50 51 2019 Postgraduate Guide ANU College of Business & Economics

MASTER OF ECONOMICS Program code: MECON CRICOS code: 082290F Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time TYPICAL FULL-TIME PATTERN OF STUDY Year Semester 1 Semester 2 1 Microeconomic Analysis Macroeconomic Analysis Mathematical Techniques for Economic Analysis Introductory Statistics for Business & Finance Advanced Microeconomic Analysis Advanced Macroeconomic Analysis Econometric Methods and Modelling Optimisation for Economics and Financial Economics 2 Microeconomic Theory Macroeconomic Theory (Master) 2 x electives Case Studies in Applied Economic Analysis and Econometrics 3 x electives K E Y LEARNI NG OUTCOMES Graduates will have gained the skills and knowledge to: > > undertake formal economic analysis and empirically test solutions to economic problems > > access the academic economics literature in most fields > > assimilate the significant content of recent developments in both theoretical and applied economics > > undertake independent research in economic theory at the graduate level and provide economic intuition about the results.

The program consists of 96 units, which comprise an initial component of 48 units and a concluding component of eight courses made up of a combination of compulsory and elective elements.

Initial component > > Microeconomic Analysis > > Macroeconomic Analysis > > Mathematical Techniques for Economic Analysis > > Introductory Statistics for Business and Finance > > Advanced Microeconomic Analysis > > Advanced Macroeconomic Analysis > > Optimisation for Economics and Financial Economics > > Econometric Methods and Modelling Concluding component 18 units of compulsory courses: > > Microeconomic Theory > > Macroeconomic Theory (Master) > > Case Studies in Applied Economic Analysis and Econometrics A minimum of 18 units from the following list: > > Topics in Economic Dynamics > > Applied Welfare Economics > > Economic Policy Issues > > International Trade Theory > > International Monetary Economics > > The Economics of Taxation and Redistribution > > Cost–Benefit Analysis > > Topics in Microeconomic Theory > > Economic Growth > > Applied Micro-econometrics > > Applied Macro and Financial Econometrics > > Business and Economic Forecasting > > Fundamentals of Econometric Methods A maximum of 12 units from the following list: > > Advanced Topics in Poverty, Public Policy and Development > > Classic Works of Economic Theory > > Japanese Economy and Economic Policy > > Mathematical Techniques in Economics II > > International Economics > > Public Sector Economics > > Financial Economics > > Industrial Organisation > > Health Economics > > Resource and Environmental Economics > > Labour Economics and Industrial Relations > > Law and Economics > > Southeast Asian Economic Policy and Development > > Game Theory > > Political Economy of Macroeconomic Policy > > The Economy, Politics and the State > > Computational Economics > > Economic Analysis of Digital Economy S T RUCT U RE GRADUAT E DIPLOMA OF E CONOMICS Program code: DECON CRICOS code: 082263J Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: One year full-time, two years part-time GRADUAT E CER T IFICAT E OF ECONOMICS Program code: CECON CRICOS code: 082256G Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Six months full-time, one year part-time The program consists of 48 units of the following compulsory courses: > > Microeconomic Analysis > > Macroeconomic Analysis > > Introductory Statistics for Business and Finance > > Mathematical Techniques for Economic Analysis > > Advanced Microeconomic Analysis > > Advanced Macroeconomic Analysis > > Econometric Methods and Modelling > > Optimisation Techniques for Economists STRUC TURE The program consists of 24 units which must consist of: 18 units from completion of the following compulsory courses: > > Microeconomic Analysis > > Macroeconomic Analysis > > Introductory Statistics for Business and Finance 6 units from the following: > > The Australian Economy: Past and Present > > Mathematical Techniques for Economic Analysis* * Students wishing to progress to the Graduate Diploma of Economics or master’s programs in economics must select Mathematical Techniques for Economic Analysis.

STRUC TURE TY PICAL F UL L - TIME PAT T E R N OF S T UDY Year Semester 1 Semester 2 1 Microeconomic Analysis Macroeconomic Analysis Mathematical Techniques for Economic Analysis Introductory Statistics for Business & Finance Advanced Microeconomic Analysis Advanced Macroeconomic Analysis Econometric Methods and Modelling Optimisation Techniques for Economists TY PICAL F UL L - TIME PAT T E R N OF S T UDY Year Semester 1 1 Microeconomic Analysis Macroeconomic Analysis Mathematical Techniques for Economic Analysis Introductory Statistics for Business & Finance K EY L EARNING O UTC O MES Graduates will have gained the skills and knowledge to: > > analyse economic problems using formal methods > > interpret diagrammatic and mathematical representations of economic concepts > > use introductory mathematical economic analysis at the graduate level and provide economic intuition for the results > > deploy basic estimation techniques expected of students in postgraduate study and policy-related empirical work > > analyse the economic effects of policy changes, which is valuable for students wanting to work as professional economists or proceed to postgraduate study.

K EY L EARNING O UTC O MES Graduates will have gained the skills and knowledge to: > > understand the economic principles that underpin modern economics > > undertake elementary economic analysis > > communicate analytical reasoning in writing > > provide economic intuition for the evaluation of economic policy using basic economic analysis. Students must achieve a minimum 70% weighted average mark in the following courses to continue to the concluding component: ECON8013 Mathematical Techniques in Economics I ECON8025 Diploma Microeconomics ECON8026 Diploma Macroeconomics EMET8005 Economic Models and Introductory Econometrics Students who do not achieve a minimum 70% weighted average mark will be transferred to the Master of Economic Policy or the Graduate Diploma of Economics.

P ROGRESSI ON STANDARD 52 53 2019 Postgraduate Guide ANU College of Business & Economics

Our programs > > Master of Finance > > Master of Applied Finance > > Master of Financial Economics > > Master of Financial Management > > Graduate Certificate of Finance and Actuarial Statistics Graduate study in finance provides students with a comprehensive foundation in the core skills and knowledge relevant to the financial world, including corporate finance, financial management, stockbroking, investments, portfolio management, and international finance. Finance Professional accreditation Overview Finance Finance is available at the master’s level through a number of programs.

The two-year Master of Finance and the one-and- a-half year Master of Applied Finance offer comprehensive training in financial concepts and principles. The longer Master of Finance provides the option for more advanced study.

Because the courses undertaken in the Master of Applied Finance also form part of the longer program, students have the option to transfer should they wish to continue their studies to an advanced level, provided they meet the progression requirements. The Master of Finance has long been one of our most popular graduate programs. It is recognised as a program partner of CFA Institute, reflecting the program’s close ties to professional practice and the good preparation that it provides for students intending to sit the CFA examinations.

Students also have the opportunity to study a one-year Master of Financial Management, which ensures students have the advanced skill set needed for a rewarding career in business.

The two-year Master of Financial Economics is an elite degree preparing graduates for a career requiring advanced analytical skills, drawing on an advanced knowledge of finance and economics. Introductory course in Finance The Graduate Certificate of Finance and Actuarial Statistics provides a sequence of foundation courses in one of four areas: Actuarial Statistics, Actuarial Studies, Statistics or Finance. This program is built around a 24-unit (four-course) specialisation— see page 31.

Entry requirements For the Master of Finance and Master of Applied Finance, students must have completed an Australian bachelor degree with a minimum grade point average (GPA) of 5.0/7, or the international equivalent. Applicants to the Master of Applied Finance must also have completed their bachelor degree in a cognate discipline (see list below). For the Master of Financial Management, students must have an Australian bachelor degree or international equivalent in a cognate discipline (see list below) with a minimum GPA of 5.0/7.

For the Master of Financial Economics, students must have completed an Australian bachelor degree or international equivalent in a cognate discipline with a minimum GPA of 5.0/7.

Cognate disciplines are Actuarial Studies, Economics, Finance, and Statistics. For the Graduate Certificate of Finance and Actuarial Statistics, students must have completed an Australian bachelor degree with a minimum GPA of 4.5/7, or the international equivalent. All students must also satisfy the university’s English language admission requirements—see page 67. Credit and articulation arrangements Applicants to the Master of Finance and Master of Financial Economics with a bachelor degree in a cognate discipline, or with the relevant graduate certificate, may be eligible for 24 units (one semester full-time) of credit.

Applicants with an honours degree in a cognate discipline, or with the relevant graduate diploma, may be eligible for 48 units (one year full-time) of credit. Cognate disciplines (Master of Applied Finance and Master of Financial Management) Finance, Accounting, Business, Economics, Statistics, Actuarial Studies, Mathematics, Business Information Systems, Management, International Business, Engineering, Physics, Science.

55 2019 Postgraduate Guide 54 ANU College of Business & Economics

My internship at the United Nations granted me access to world-class thinkers and leaders. I was eager to try implementing my knowledge in finance and to learn how international organisations such as the UN can achieve sustainable economic development. Yosafat Simbolon Master of Finance Intern, United Nations, New York Photo: Hannah Wallace 56 57 2019 Postgraduate Guide ANU College of Business & Economics

MASTER OF APPLIED FIN A NCE Program code: 7421XMAPFN CRICOS code: 079659D Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: One and a half years full-time, three years part-time TYPICAL FULL-TIME PATTERN OF STUDY Year Semester 1 Semester 2 1 Financial Statements & Reporting Applied Foundations of Finance Introductory Statistics for Business & Finance Business Economics Applied Corporate Finance Applied Investments Applied Statistics Topics in International Finance 2 Applied Derivatives Applied Valuation Applied Portfolio Construction Applied Financial Intermediation & Debt Markets The program consists of 72 units, comprising nine compulsory courses and three elective courses, structured as follows: Compulsory courses > > Financial Statements and Reporting > > Applied Foundations of Finance > > Applied Corporate Finance > > Applied Investments > > Applied Derivatives > > Applied Valuation > > Introductory Statistics for Business and Finance > > Topics in International Finance > > Applied Portfolio Construction Plus one of the following courses: > > Regression Modelling > > Applied Statistics Plus one of the following courses: > > Business Economics > > Financial Mathematics Elective courses One of the following electives: > > Asian Capital Markets > > Applied Financial Intermediation and Debt Markets > > Trading and Markets > > Derivatives: Markets, Valuation and Risk Management > > Graphical Data Analysis > > Generalised Linear Models > > Statistical Learning > > Introduction to Bayesian Data Analysis S T RUCT U RE K E Y LEARNI NG OUTCOMES Graduates of the Master of Applied Finance demonstrate a superior knowledge of the three concepts underpinning finance: > > the time value of money > > diversification > > arbitrage.

Graduates can critically assess the application of these concepts to the following: > > corporate financial decision-making > > investment decisions and portfolio management > > derivatives and risk management > > portfolio construction > > corporate valuation > > debt markets. Graduates demonstrate strong cognitive, technical and communication skills in interpreting, analysing and evaluating financial information and problems. They develop professional abilities that will enhance research and analytical skills.

MAST E R OF FINANCE Program code: 7418XMFIN CRICOS code: 039762C Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: Two years full-time, four years part-time TY PICAL F UL L - TIME PAT T E R N OF S T UDY Year Semester 1 Semester 2 1 Financial Statements & Reporting Applied Foundations of Finance Introductory Statistics for Business & Finance Business Economics Applied Corporate Finance Applied Investments Applied Statistics Topics in International Finance 2 Applied Derivatives Applied Portfolio Construction Applied Financial Intermediation & Debt Markets Applied Valuation Advanced Corporate Finance Advanced Investments Applied Project in Finance Trading & Markets The program consists of 96 units, comprising an initial component and a concluding component, each of 48 units.

Initial component The following six compulsory courses: > > Financial Statements and Reporting > > Applied Foundations of Finance > > Applied Corporate Finance > > Applied Investments > > Topics in International Finance > > Introductory Statistics for Business and Finance Plus one of the following courses: > > Regression Modelling > > Applied Statistics Plus one of the following courses: > > Business Economics > > Financial Mathematics Concluding component The following six compulsory courses: > > Advanced Corporate Finance > > Advanced Investments > > Applied Valuation > > Applied Derivatives > > Applied Portfolio Construction > > Applied Project in Finance Plus two of the following courses: > > Asian Capital Markets > > Applied Financial Intermediation and Debt Markets > > Trading and Markets > > Derivatives: Markets, Valuation and Risk Management > > Graphical Data Analysis > > Generalised Linear Models > > Statistical Learning > > Introduction to Bayesian Data Analysis STRUC TURE K EY L EARNING O UTC O MES Graduates of the Master of Finance: > > demonstrate an in-depth understanding of corporate finance, securities trading, investments, portfolio construction, derivative pricing and risk management > > recognise, understand and apply finance theory to company valuation > > demonstrate a critical awareness of current issues in finance that is informed by cutting-edge research and practices in the field > > demonstrate the ability to conduct financial research, acquiring and analysing financial information > > work independently and collaboratively to collect, process, interpret and communicate the outcomes of financial problems.

Our country has amazing research and amazing scientists. My ideal job would be working next to science as a venture capitalist. Davaid Wallace Master of Finance Lawyer, Boettcher Law Students must achieve a minimum 60% weighted average mark in the initial component to continue to the concluding component. Students who do not achieve a minimum of 60% weighted average mark in the initial component will be transferred to the Master of Applied Finance. PRO G RESSIO N STANDARD Photo 1: Australian National University | Photo 2: Andrew Pearson 58 59 2019 Postgraduate Guide ANU College of Business & Economics

MASTER OF FINANCIAL ECO NOM ICS Program code: MFIEC CRICOS code: 086226D Commencement: Semester 1 (Feb) Duration: Two years full-time, four years part-time TYPICAL FULL-TIME PATTERN OF STUDY Year Semester 1 Semester 2 1 Advanced Microeconomic Analysis Applied Time Series Analysis Applied Corporate Finance Principles of Mathematical Statistics Introduction to Economic Models Applied Investments Optimisation for Economics & Financial Economics Business & Economics Forecasting 2 Microeconomic Theory A Advanced Investments Advanced Corporate Finance Finance elective Topics in Microeconomic Theory Applied Research Project in Finance Applied Macro & Financial Econometrics Economics of Finance The program consists of 96 units, which must include the following compulsory courses: Initial component The following eight compulsory courses: > > Optimisation for Economics and Financial Economics > > Advanced Microeconomic Analysis > > Introduction to Economic Models > > Game Theory or Business and Economics Forecasting > > Applied Corporate Finance > > Applied Investments > > Applied Time Series Analysis > > Principles of Mathematical Statistics Concluding component A total of 48 units from the following concluding components: 36 units from the following list: > > Microeconomic Theory A > > Topics in Microeconomic Theory > > Applied Macro and Financial Econometrics > > Advanced Investments > > Advanced Corporate Finance > > Applied Research Project in Finance 6 units from the following list: > > Economics of Finance > > Business and Economic Forecasting 6 units from the following list of electives: > > Continuous Time Finance > > Derivatives: Markets, Valuation and Risk Management > > Applied Financial Intermediation and Debt Markets > > Trading and Markets > > Applied Portfolio Construction > > Advanced Macroeconomic Analysis S T RUCT U RE K E Y LEARNI NG OUTCOMES Graduates of the Master of Financial Economics will possess the skills and knowledge to: > > determine the appropriate financial models to analyse and price financial assets > > recognise, understand and apply finance theory to company valuation > > demonstrate their understanding of the economic foundations of financial assets as claims on resources in various market and corporate settings, and design financial instruments and strategies > > adapt time series statistics and financial econometrics to evaluate financial economic models > > analyse and interpret data in various contexts using appropriate methodology > > work independently and collaboratively to collect, process, interpret and communicate the outcomes of fundamental research questions in financial economics.

MAST E R OF FINANCIAL MANAGEMENT Program code: MFINM CRICOS code: 029316G Commencement: Semester 1 (Feb) or Semester 2 (Jul) Duration: One year full-time, two years part-time TY PICAL F UL L - TIME PAT T E R N OF S T UDY Year Semester 1 Semester 2 1 Financial Statements & Reporting Applied Foundations of Finance Introductory Statistics for Business & Finance Business Economics Applied Corporate Finance Applied Investments Applied Statistics Topics in International Finance The Master of Financial Management requires the completion of eight courses (48 units), which must include the following six compulsory courses: > > Financial Statements and Reporting > > Applied Foundations of Finance > > Applied Corporate Finance > > Introductory Statistics for Business and Finance > > Applied Investments > > Topics in International Finance Plus one of the following courses: > > Regression Modelling > > Applied Statistics Plus one of the following courses: > > Business Economics > > Financial Mathematics STRUC TURE K EY L EARNING O UTC O MES Upon successful completion, students will have the skills and knowledge to: > > select, adapt, apply and communicate advanced financial concepts > > justify company valuation outcomes using finance theory > > examine current issues in finance using cutting-edge research and practices in the field > > demonstrate strong cognitive, technical and communication skills to work independently and collaboratively to collect, process, interpret and communicate the outcomes of financial problems > > communicate complex portfolio structures and strategies to a diverse audience.

Photo: Australian National University 60 61 2019 Postgraduate Guide ANU College of Business & Economics

DOCTOR OF PHILOSOPHY Program code: 9040 CRICOS code: 048345A Commencement: Semester 1 (Feb) or Semester 2 (Jul) depending on coursework requirements Duration: Three to four years full-time (up to eight years part-time) PROGRESS AND SUPER VISION Any coursework must be completed at a satisfactory level, as determined by the discipline area, in order for students to progress to the thesis component. Students must also satisfactorily complete progress milestones, including annual reports and presentations.

Students are assigned a supervisory panel; advisers may also be appointed. Students are expected to consult regularly with their supervisory panel. The role of the panel is to provide PhD students with support and expert advice for the timely and successful completion of the doctoral studies.

S T RUCT U RE Candidates for the Doctor of Philosophy (PhD) submit a thesis of not more than 100,000 words. The thesis must make a substantial contribution to learning and demonstrate a capacity to relate the research done by the candidate to the broader framework of the relevant discipline within which it falls, at the standard internationally recognised for the degree. In the first year, candidates may be required to undertake up to eight semester-length courses as preparation for the thesis. Details of required coursework for different disciplines, and how these requirements are determined, are available by following the discipline-specific links at: cbe.anu.edu.au/students/study-with-cbe/graduate-research ADMISSION REQUIREMENTS To be eligible for admission to a research degree, potential candidates must have an Australian bachelor degree with at least upper second class honours in a relevant discipline, or its international equivalent, or a graduate diploma or master degree with a significant research thesis component.

Please note that admission requirements and program structure may vary depending on the discipline chosen, and further information can be obtained by referring to: cbe.anu.edu.au/students/study-with-cbe/graduate-research RE SOU RCES Each full-time PhD student is provided with shared office and resources including a computer, and printing and copying facilities. Research infrastructure includes a large number of financial databases for empirical work, such as Datastream. Students have access to the resources of the ANU library system, as well as the Noel Butlin Archives Centre at ANU, and by virtue of its close proximity to campus, to the extensive holdings of the National Library of Australia.

MASTER OF PHILOSOPH Y Program code: 8040 CRICOS code: 048350D Duration: One to two years full-time (up to four years part-time) The Master of Philosophy (MPhil) is available in a limited range of disciplines. It consists of a thesis of no more than 60,000 words and may involve some coursework. For more details, please see: cbe.anu.edu.au/students/study-with-cbe/graduate-research GRADUATE RESEARCH There are three main steps to submit an application for admission to the PhD degree with the college. Step 1 – Identify a potential supervisor Prospective students will need to ascertain whether or not the ANU College of Business and Economics offers research supervision in their area of interest by using the ANU Researchers database: researchers.anu.edu.au.

There, prospective students can flag profiles of ANU researchers and view their expertise and published works. Step 2 – Self-assessment After identifying one or more potential supervisors, prospective students should refer to the College of Business and Economics website to determine their eligibility to apply for a PhD or MPhil program: cbe.anu.edu.au/students/study-with-cbe/graduate-research. Step 3 – Application Prospective students may apply for admission if they have identified one or more potential supervisors and also completed the self-assessment on the relevant school website. T HE PHD APPLICAT ION PROCESS After submitting an application to ANU, applicants should make sure that they send the referee report forms to their referees, and ask them to submit their completed reports directly to the ANU Admissions Office: hdr.admissions@anu.edu.au.

Applications can only be processed and assessed upon receipt of the completed application (including all supporting documentation).

Research applications are made directly to ANU online: anu.edu.au/study/apply. Scholarships The Australian National University and the ANU College of Business and Economics offer a range of scholarships and research funding to high-achieving students commencing in the PhD program. Scholarships can take the form of tuition and/or stipend sponsorships. While applicants can apply for admission to a research degree at any time, there are closing dates applicable if applying for PhD scholarships. Applicants must apply for admission by the relevant scholarship closing date.

Information on university scholarships can be found at anu.edu.au/students/scholarships.

I chose to undertake a PhD in Organisational Behaviour at CBE because of the world-class faculty in the Research School of Management. The college is highly supportive of all research endeavours, and this has allowed me to constantly challenge my research potential as a PhD candidate. Carys Chan PhD graduate Singapore Photo: Australian National University 62 63 2019 Postgraduate Guide ANU College of Business & Economics

Scholarships The ANU College of Business and Economics is committed to supporting talented students and offers a number of college-specific scholarships available to both Australian and international students. The table on page 65 summarises the scholarships offered by the college for postgraduate students. For more information about these scholarships, and how to apply, visit the college’s scholarships web page: cbe.anu.edu.au/scholarships. There are also many ANU-wide scholarships on offer. For more information about university-administered awards, visit the ANU scholarships page at students.anu.edu.au/scholarships.

S U P P O R T F O R S U C C E S S International postgraduate scholarships Value ($A) Number on offer Online application required ANU College of Business and Economics International Graduate Scholarship 50% tuition fee waiver for the standard duration of program 12 Yes ANU College of Business and Economics South East Asia Merit Scholarship 20% tuition fee waiver for the standard duration of program 16 Yes ANU College of Business and Economics India Excellence Scholarship $10,000 one-off payment 20 Yes Research School of Accounting India Merit Scholarship 50% tuition fee waiver for the standard duration of program 4 Yes ANU Excellence Scholarship Program $5,000 in the first year followed by 10% tuition fee waiver for years of study thereafter Several awarded Yes Domestic postgraduate scholarships Value ($A) Number on offer Online application required ANU College of Business and Economics Postgraduate Merit Scholarship 50% tuition fee waiver for the duration of the degree 30 Automatic application through Universities Admissions Centre (UAC) Research School of Management Master of Business Administration Scholarship A percentage (25%, 50%, 75% or 100%) of the student tuition fee for the duration of the Master of Business Administration or the Master of Business Administration (Advanced) programs 30 Automatic application through UAC ANU College of Business and Economics Graduate Scholarship for Aboriginal or Torres Strait Islanders 100% of tuition 1 Yes Research School of Finance, Actuarial Studies and Statistics Master of Financial Economics Scholarship $10,000 paid in two equal instalments in the first year 6 Automatic application through UAC Photo: Frannyanne shutterstock.com 65 2019 Postgraduate Guide 64 ANU College of Business & Economics

H O W T O A P P LY E N G L I S H L A N G U A G E R E Q U I R E M E N T S equivalent) score of 6, with a minimum score of 5.5 in all bands, to gain entry to the course. Please note that all Law programs cannot be packaged with the English program. (See table below.) For all information on English language requirements, visit anu.edu.au/pg/english. Contact ANU College T +61 2 6125 6688 E info@anucollege.edu.au W anucollege.edu.au CRICOS provider code: 01682E You may meet this requirement if your tertiary studies were entirely taught and assessed in English during the past two years. If you are an international student and you completed your English studies more than two years ago, you will need to provide an English proficiency test certificate, such as the International English Language Testing System (IELTS) or the Test of English as a Foreign Language (TOEFL).

English language preparation The ANU Access English program is a 10-week course offered by ANU College. The course runs four times a year and is designed so that you can finish the course in time to start your studies at ANU. You must already have an IELTS (or recognised You must provide evidence of English language proficiency required for admission to ANU. Test Regular degree programs (including exchange and study abroad) ANIP,* Medicine, undergraduate Law, Juris Doctor and Legal Workshop programs Graduate Law programs (except Juris Doctor and Legal Workshop programs) Academic IELTS An overall score of 6.5 with at least 6 in each component of the test An overall score of 7 with at least 6 in each component of the test An overall score of 7 with at least 7 in Writing and at least 6 in each other component of the test TOEFL1 – paper-based test A score of 570 with TWE** score of 4.5 A score of 600 with TWE** score of 5 A score or 650 with TWE** score of 5 TOEFL1 – internet-based test A score of 80, with a minimum of 20 in Reading and Writing and 18 in Speaking and Listening A score of 100, with a minimum of 22 in all four sections A score of 110, with a minimum of 26 in Writing and at least 22 in all other sections Cambridge CAE Advanced An overall score of 176 with a minimum of 169 in all sub-skills.

An overall score of 185 with a minimum of 169 in all sub-skills. An overall score of 185 with a minimum of 185 in writing and at least 169 in the other sub- skills.

PTE Academic Overall 64, minimum score of 55 in each section Overall 70, minimum score of 60 in each section Overall 70, minimum score of 60 in each section and at least 70 in Writing * ANIP = Australian National Internships Program ** TWE = Test of Written English INTERNATIONAL STUDENTS 1. Check the program entry requirements and your eligibility to apply » » Visit the Programs and Courses website for program requirements and eligibility and the English language requirement at programsandcourses.anu.edu.au. 2. Submit your application » » As an international student, you can submit your application either: – directly online at student-anu.studylink.com or – through an authorised agent.

3. Accept your offer » » Meet all conditions of your offer letter (if applicable). » » Complete deposit payment. » » Return the completed Acceptance Declaration, Payment Advice and Financial Declaration Form to the Admissions Office via email to acceptance@anu.edu.au. » » Your electronic Confirmation of Enrolment will be processed within 10 working days of your payment being finalised and receipt of your correctly completed Acceptance Declaration, Payment Advice and Financial Declaration Form. D OMEST I C ST UDENTS You are a domestic applicant if you: » » are an Australian or New Zealand citizen » » hold an Australian permanent residency visa » » hold an Australian humanitarian visa.

If none of these criteria apply, then you are an international student.

1. Check the program entry requirements and your eligibility to apply » » Visit the Programs and Courses website for program requirements and eligibility and the English language requirement at programsandcourses.anu.edu.au. 2. Apply through UAC » » To apply for most postgraduate coursework degree programs, you will need to submit your application through the Universities Admissions Centre (UAC) and pay a fee. Visit the UAC website at uac.edu.au. 3. Accept your offer » » You can accept your offer to study at ANU online at anu.edu.au/study/accept.

IM POR TANT D ATES UAC application Postgraduate applications open in September in the year prior to commencement.

Each postgraduate program has a unique application closing date. Always check application deadlines on the relevant ANU school website, or the UAC website at uac.edu.au/postgraduate. Direct applicant international students Semester 1, 2019 Semester 2, 2019 Application closing date* 15 December 2018 31 May 2019 Acceptance/deposit deadline* 15 January 2019 (offshore students) 31 January 2019 (onshore students) 30 June 2019 (offshore students) 10 July 2019 (onshore students) * The above dates are subject to change. For the most accurate dates, please check the relevant websites. 66 67 2019 Postgraduate Guide ANU College of Business & Economics

ANU College of Business & Economics Kingsley Street The Australian National University Canberra ACT 2600 Australia T +61 1800 620 032 E national.cbe@anu.edu.au E international.cbe@anu.edu.au W cbe.anu.edu.au ANU social media /ANUBusinessEconomics @ANU_CBE @ANU_CBE CRICOS Provider #00120C