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Business & Economics 2019 P O S T G R A D U AT E GUIDE ANU College of Business & Economics
CONTENTS
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 2019 Postgraduate Guide 3
J O I N U S AT A N U
Australia’s
ANU is ranked #1 in International outlook Top 25 student cities
Australia and #24 in Ranked 1st in Australia and Canberra ranks among the top
the world1 10th in the world3 25 student cities in the world4
finest
For over 70 years, The Australian National University (ANU) has worked to realise the ambitions of its visionary
Ranked #1 in Australia for
business and economics5
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
Best city to visit
Lonely Planet ranked Canberra as the
World’s #3 best city to visit in 2018
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 “Well above” world standard Home to 12 national institutions
6 Nobel Laureates
95% of ANU research is rated “above” including the Australian Parliament, the
Our mission is to provide Australia with intellectual leadership on critical issues. Our influence in global research The highest number of all
or “well above” world standard6 High Court of Australia, and the National
Australian universities
and teaching has made us Australia’s most international university, and our dedication to our students has Library of Australia
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. 1 QS World University Rankings 2019
2 Global University Employability Ranking 2017
Embrace your global citizenship in our inclusive, open and respectful community. Learn from research as it 3 Times Higher Education World University Rankings 2018
happens, create in our state-of-the-art facilities, unlock your future and change the world. 4 QS Best Student Cities 2017
5 Times Higher Education World University Rankings 2018 by subject
6 Excellence in Research for Australia 2015
4 ANU College of Business & Economics Photo: Australian National University 2019 Postgraduate Guide 5
W O R L D - C L A S S E D U C AT I O N
Vinh Lu
Associate Professor and Director of
Employability at CBE
Award-winning educator, responsible
Developing
for student employability and externally
engaged student learning. 2017 ANZMAC
Distinguished Marketing Educator of the
Year Award.
tomorrow’s
Anna von Reibnitz
Senior Lecturer and Finance Masters
Convenor
Award-winning educator in Finance.
2017 Australian Awards for University
leaders
Teaching Award for Teaching Excellence
in Law, Economics, Business and Related
Studies.
Maria Racionero
Associate Dean (Higher Degree Research)
We are proud to be part of The Australian National University (ANU), which is the nation’s finest. Our unique and Associate Professor
mission, as the national university, is to address major issues of national and international importance Leader in Economics of Education,
through our research and teaching. We take that mission very seriously. Public Economics, Political Economy,
Our focus, within the ANU College of Business and Economics (CBE), is on developing leaders Microeconomic Theory, and Applied
who transform business, society and economies. Microeconomics.
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– Markus Brueckner
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. Professor and ARC Future Fellow
Supported by a dynamic team of academic and professional staff, students are offered a full suite of Leader in Economic Growth, and Political
engaging learning opportunities to increase their employability and globalise their education experience. Economy.
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.
Susanna Ho
Professor
Leader in Accounting, Business
Information Systems, and Commerce.
Photos Maria Racionero: Penny Bradfield
Vinh Lu: Andrew Taylor Markus Brueckner: Andrew Taylor
6 ANU College of Business & Economics Anna von Reibnitz: Australian National University Susanna Ho: Australian National University 2019 Postgraduate Guide 7
GLOBAL CONNECTIONS
Unlock your potential. Immerse yourself in the CBE HIGHLIGHTS
ecosystem, where students, academics and industry work
together. Global influence Leadership
Embrace your global citizenship and take your Aspire to intellectual leadership and public policy with real
Building a strong professional network takes time. At ANU, seat at the table. impact.
students join a global student cohort. Your ANU qualification and Social impact Modern classroom
Engage in research-led education and make an Learn with the best minds, the best students and the latest
connections are your gateway to participation in high-quality jobs. impact in your community. technology.
Evidence based Specialisation
Make better decisions—make evidence-based Unlock your passion with one of 26 program offerings.
decisions.
Entrepreneurship Make connections
Learn, grow and scale your idea through to Access a global network of alumni.
success.
8 ANU College of Business & Economics Photo: Australian National University 2019 Postgraduate Guide 9
T H E P O S T G R A D U AT E A D VA N TA G E 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. 10 ANU College of Business & Economics Photo: Australian National University 2019 Postgraduate Guide 11
G R A D U AT E O U T C O M E S
Ranked 1st Average income
for CBE graduates with a
in Australia and postgraduate degree was
21st in the world approximately
for graduate employability 1 $86,0002
84% of
59% of 38% of
graduates reported
CBE graduates CBE graduates
their qualification
are employed are employed
prepared them “very
in the private in the public
well” or “well” for
sector 2 sector 2
employment 2
Employers of CBE graduates and alumni
Accenture Boston Consulting Group Hewlett Packard Reserve Bank of China
Alibaba Centre for International HSBC Reserve Bank of Fiji
Economics
Amazon IBM Reserve Bank of New
Chanel Taiwan Inc. Zealand
American Express Indonesian Stock Exchange
China Unicom Reserve Bank of Vanuatu
ANZ Bank International Monetary Fund
CITIC Bank Rio Tinto
Apple Inc. JP Morgan Chase
Commonwealth Bank Standard Chartered Bank
Asian Development Bank KPMG
DBS Bank Tata Asset Management
Audi LinkedIn
Dell Tencent
Australian Public Service L’Oreal
Deloitte Thomson Reuters
Baidu MediaCorp TV
Deutsche Bank Toshiba
Baker Tilly International Mercedes-Benz
Dixon Advisory TripAdvisor
Bank Indonesia National Australia Bank (NAB)
EY UN Women Australia
Bank of China Panasonic
Fairfax Media Limited Unilever
Bank of Mongolia Philips
Flight Centre United Nations
Bentleys NSW Procter & Gamble
Goldman Sachs Westpac Banking Corporation
BMW Australia PwC
Google Inc.
BNP Paribas Reserve Bank of Australia
Top five industries in which Top 10 occupations for CBE
CBE alumni work 3 alumni 3
»» Accounting services »» Accountant
»» Banking »» Analyst/finance analyst/financial planner
»» Central government administration »» CEO
Developed in collaboration with industry experts, MomentuM is CBE’s »» Management advice and related consulting services »» CFO
flagship professional development program. »» State government administration »» Consultant
MomentuM develops employability and soft skills, essential for job market »» Director
readiness. »» Economist
»» Manager
Get mentored by professionals who will share first-hand insights into how to
»» Partner
thrive in today’s business world, giving you the competitive edge. 1
Global University Employability Ranking 2017
2
2016 Graduate Outcomes Survey: ANU College of Business and Economics
»» President/vice president
cbe.anu.edu.au/study/momentum
3
2017 data from ANU Alumni database
12 ANU College of Business & Economics Photo: Holly Treadaway 2019 Postgraduate Guide 13
E M P L O YA B I L I T Y
CBE student journey
Real-world
skills We prepare you from day one
ANU offers a range of services to ensure our
students succeed at university.
Across the world, demand for business and economic »» Academic workshops
»» Program advice sessions
graduates is escalating in industry, business and »» Student networking events
»» Set4ANU orientation program
government. »» Student clubs and societies
Real-life skills
Our programs offer real-world experience through
anu.edu.au/study/student-experience
innovative course design, and award-winning
Studying at CBE will provide you with skills and attributes that internship and professional development programs.
»» CBE Internship Program
will remain relevant and keep you competitive in the evolving job »» Australian National Internships Program
»» MomentuM
market.
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
CBE I N T ER N S H I P
PR O G R A M
course credit. Each internship is project-based with deliverables
set out in an agreement between the intern, workplace supervisor
and academic supervisor.
Job ready
cbe.anu.edu.au/study/internship
Embrace opportunities to expand your professional
skills and become job ready.
»» Industry networking events
Examples of CBE Internship Program host organisations »» Career fairs
Community of business leaders
»» Recruiter in Residence
»» Career consultations Our graduates are lifelong members of our alumni
Australia China Business Council – Canberra Business Chamber Optus community stretching across the globe.
ACT Branch »» Job listings
Conservation Council ACT Pharmacy Guild of Australia »» We have over 22,000 alumni
Australian Chamber of Commerce & Cushman & Wakefield PwC »» Our alumni work and live in 90+ countries
Industry
»» Our graduates are ranked as most employable in
Embassy of Mexico Royal Australian Mint
Australian Institute of Health and Australia*
Welfare Innovate Canberra Transport Canberra
* Global University Employability Ranking 2017
Australian Research Alliance for Invest Canberra UnitingCare Australia
Children and Youth National Australia Bank Note: Internship hosts can change each
intake based on business requirements and
BAE Systems National Disability Insurance Agency availability of internship projects. anu.edu.au/students
Photo 1: Australian National University | Photo 2: Holly Treadaway |
14 ANU College of Business & Economics Photo 3: Holly Treadaway | Photo 4: Australian National University 2019 Postgraduate Guide 15
Study
options
Postgraduate program offerings
Program Program code CRICOS Duration Annual domestic Annual international Commences Page
code (full-time) fee ($A) fee ($A) 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 CFAS 082257G 0.5 years 16,944 22,584 S1 & S2 31
and Actuarial Statistics
Master of Business Administration MBADM 091188G 1.5 years 33,888 45,168 S1 only 36
Master of Business Information MBINS 050796M 2 years 33,888 45,168 S1 & S2 37
Systems
Master of Entrepreneurship and MEINV 091185K 2 years 33,888 45,168 S1 & S2 38
Innovation
Master of International MIMGT 088059J 2 years 33,888 45,168 S1 & S2 39
Management
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 GCMGT 030000G 0.5 years 16,944 22,584 S1 & S2 43
Management
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.
16 ANU College of Business & Economics R 1: Australian National University 2019 Postgraduate Guide 17
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
Accounting
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
With continuing high global demand for qualified accountants, our accounting Applicants with accounting qualifications from countries outside Australia can achieve the education entry requirements of the
programs provide graduates with a wide range of career opportunities in 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
accounting firms, government departments, banking and finance organisations, Chartered Accountants Australia and New Zealand, and include the assessment with their application.
corporations and other related accounting fields.
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
Our programs cognate discipline (see below).
For entry into the Graduate Certificate of Accounting, applicants must have an Australian bachelor degree with a minimum GPA
>> Master of Accounting
of 4.5/7, or the international equivalent.
>> Master of Professional Accounting For entry into the Master of Commerce (Advanced), applicants must have an Australian bachelor degree with a minimum GPA
>> Master of Commerce (Advanced) 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
>> Graduate Certificate of Accounting 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.
Professional
accreditation
18 ANU College of Business & Economics 2019 Postgraduate Guide 19MASTER OF ACCOUNTING MASTER OF PROFESSIONAL ACCOUNTING
Program code: 7414XMACCT CRICOS code: 050800J Commencement: Semester 1 (Feb) or Semester 2 (Jul) Program code: 7413XMPACC CRICOS code: 050799G Commencement: Semester 1 (Feb) or Semester 2 (Jul)
Duration: Two years full-time, four years part-time Duration: One and a half years full-time, three years part-time
KEY LEARNING OUTCOMES T Y P I C A L F U L L - T I M E PAT T E R N O F S T U D Y KEY LEARNING OUTCOMES T Y P I C A L F U L L - T I M E PAT T E R N O F S T U D Y
>> Integrate contemporary and advanced theoretical and technical Including courses that satisfy the requirements of CPA Australia and >> Integrate advanced theoretical and technical accounting knowledge Including courses that satisfy the requirements of CPA Australia and
accounting knowledge in a business context. Chartered Accountants Australia and New Zealand in a business context, including an understanding of developments Chartered Accountants Australia and New Zealand
in accounting and accounting research.
>> Understand and synthesise a broad range of accounting issues
through the lens of accounting and business research. Year Semester 1 Semester 2
Year Semester 1 Semester 2 >> Exercise judgement under minimal supervision to analyse and
>> Exercise judgement under minimal supervision to analyse and 1 Financial Statements & Reporting Management Accounting & Cost provide possible solutions to emerging and advanced accounting 1 Financial Statements & Reporting Business Association Law
provide possible solutions to emerging and advanced accounting Analysis problems in complex contexts. Introductory Statistics for Management Accounting & Cost
Commercial Law
problems in complex contexts using, where appropriate, social, Business & Finance Analysis
Introductory Statistics for Corporate Accounting >> Critically apply advanced theoretical and technical accounting
ethical, economic, regulatory, sustainability, governance and/or Business & Finance Business Economics knowledge and skills to evaluate complex accounting problems in Applied Foundations of Finance Corporate Accounting
global perspectives. professional and research contexts. Commercial Law Business Economics
Applied Foundations of Finance Business Association Law
>> Critically apply advanced theoretical and technical accounting
2 Contemporary Issues in Accounting Information Systems >> Justify and communicate accounting advice and ideas to both 2 Contemporary Issues in
knowledge and skills to evaluate a range of emerging and advanced Accounting
Accounting specialists and non-specialists.
accounting problems in professional and research contexts. Auditing & Assurance Services
Corporate Financial Reporting Accounting Information Systems
>> Justify and communicate accounting advice and ideas to both Taxation Law
Financial Statement Analysis Taxation Law
specialists and non-specialists. Sustainability & Corporate Social
Auditing & Assurance Services
Corporate Governance or Public Responsibility, Accountability &
Sector Accounting & Reporting Reporting
STRUCTURE STRUCTURE
The program consists of 96 units, comprising: >> Accounting Analytics
The standard program consists of 72 compulsory units. >> Introductory Statistics for Business and Finance
>> Commercial Law
24 units of compulsory courses: >> Financial Statements and Reporting >> Applied Foundations of Finance
>> Accounting Information Systems
>> Management Accounting and Cost Analysis >> Business Economics
>> Business Economics
A minimum of 24 units from the following list: >> Corporate Accounting >> Accounting Information Systems
>> Financial Statements and Reporting
>> Contemporary Issues in Accounting >> Auditing and Assurance Services
>> Applied Foundations of Finance >> Contemporary Issues in Accounting
>> Commercial Law >> Taxation Law
>> Introductory Statistics for Business and Finance >> Taxation Law
>> Corporate Financial Reporting >> Business Association Law
A minimum of 36 units from the following list:
>> Auditing and Assurance Services
>> Public Sector Accounting and Reporting >> Business Association Law
>> Sustainability and Corporate Social Responsibility, Accountability
and Reporting A maximum of 12 units from the following list:
>> Management Accounting and Cost Analysis >> Analysis of Financial Reporting
>> Financial Statement Analysis >> Commerce Research Report
>> Corporate Governance
>> Corporate Accounting
I I
I enjoyed everything
I I 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
20 ANU College of Business & Economics Photo 1: Australian National University | L 2: supplied 2019 Postgraduate Guide 21M A S T E R O F C O M M E R C E ( A D VA N C E D ) G R A D U AT E C E R T I F I C AT E O F A C C O U N T I N G
Program code: VCOMM CRICOS code: 093294M Commencement: Semester 1 (Feb) or Semester 2 (Jul) Program code: 6459XGCACC CRICOS code: 052700G Commencement: Semester 1 (Feb) or Semester 2 (Jul)
Duration: Two years full-time, four years part-time Duration: Six months full-time, one year part-time
KEY LEARNING OUTCOMES T Y P I C A L F U L L - T I M E PAT T E R N O F S T U D Y KEY LEARNING OUTCOMES T Y P I C A L F U L L - T I M E PAT T E R N O F S T U D Y
>> Integrate advanced theoretical and technical accounting knowledge >> Demonstrate accounting knowledge in a business context and
in a business context, including issues in accounting research and Year Semester 1 Semester 2 understanding of recent developments in accounting. Year Semester 1
research methods in accounting. 1 Financial Statements & Reporting Management Accounting & Cost >> Exercise judgement under minimal supervision to analyse and 1 Financial Statements & Reporting
>> Exercise independent judgement to analyse and provide possible Commercial Law Analysis provide possible solutions to varied accounting problems. Applied Foundations of Finance
solutions to emerging and advanced accounting problems in Business Economics Business Association Law Introductory Statistics for
complex contexts using, where appropriate, social, ethical, >> Critically apply accounting knowledge and skills to evaluate a range Business & Finance
Introductory Statistics for Corporate Accounting of accounting problems in a professional context.
economic, regulatory, sustainability, governance and/or global Business & Finance Commercial Law
Contemporary Issues in Accounting
perspectives. >> Communicate accounting ideas to both specialists and non-
>> Critically apply advanced theoretical and technical accounting 2 Seminar in Research Method in Master’s subthesis (18 units) specialists.
Commerce
knowledge and research-based skills to evaluate emerging and Special Topics in Commerce
advanced accounting problems, and to conduct a research-based Analysis of Financial Reporting
project. Econometrics 1: Econometric
Methods
>> Justify and communicate accounting ideas and theoretical issues to STRUCTURE
both specialists and non-specialists. Master’s subthesis (6 units)
The program consists of 24 units to be chosen from the following list: >> Corporate Financial Reporting
>> Financial Statements and Reporting >> Corporate Accounting
>> Contemporary Issues in Accounting >> Accounting Analytics
STRUCTURE >> Public Sector Accounting and Reporting >> Commercial Law
>> Sustainability and Corporate Responsibility, Accountability and >> Auditing and Assurance Services
The program consists of 96 units, comprising: >> Financial Statement Analysis Reporting >> Business Association Law
>> Corporate Financial Reporting >> Taxation Law
66 units from the following list: >> Applied Foundations of Finance
>> Accounting Analytics >> Management Accounting and Cost Analysis
>> Contemporary Issues in Accounting >> Business Economics
>> Auditing and Assurance Services >> Financial Statement Analysis
>> Financial Statements and Reporting >> Introductory Statistics for Business and Finance
>> Business Association Law >> Corporate Governance
>> Corporate Accounting
>> Business Economics
>> Commercial Law
>> Analysis of Financial Reporting 6 units from completion of either:
>> Seminar in Research Method in Commerce >> Econometrics 1: Econometric Methods or P R O F E S S I O N A L A C C R E D I TAT I O N S
>> Master’s subthesis (Commerce) (24 units) >> Regression Modelling
To meet the education requirements for associate membership with >> Business Association Law
>> Introductory Statistics for Business and Finance
6 units from the following list: both CPA Australia and Chartered Accountants Australia and New >> Corporate Accounting
Zealand, and for entry into the Chartered Accountants Australia and
18 units from the following list: >> Advanced Managerial Decision Making >> Commercial Law
New Zealand CA program, a student must hold one of the following
>> Public Sector Accounting and Reporting >> Special Topics in Commerce ANU degrees: >> Contemporary Issues in Accounting
>> Sustainability and Corporate Social Responsibility, Accountability >> Taxation Concepts and Issues >> Applied Foundations of Finance
>> Master of Accounting
and Reporting >> Corporate Governance: Research Preparation
>> Master of Professional Accounting >> Introductory Statistics for Business and Finance
>> Taxation Law >> Advanced Auditing and Assurance Services >> Business Economics
>> Management Accounting and Cost Analysis with passes in:
>> Taxation Law
>> Financial Statements and Reporting >> Auditing and Assurance Services*
>> Accounting Information Systems
* Students have the option of completing Auditing and Assurance
>> Management Accounting and Cost Analysis Services at university OR in the CPA Program.
P R O G R E S S I O N S TA N D A R D
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.
22 ANU College of Business & Economics 2019 Postgraduate Guide 23Overview
Actuarial 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.
studies and
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-institute-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
statistics
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
The closely aligned disciplines of actuarial studies and statistics present excellent 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
opportunities for careers in a wide range of workplaces. Qualified actuaries and a minimum GPA of 5.0/7.
statisticians are in high demand around the world and can command high salaries. 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.
Graduate study in actuarial studies and statistics provides options both for those Students who do not have this mathematics knowledge can enrol in the Graduate Certificate of Finance and Actuarial Statistics
with prior study in the disciplines and those seeking to move into a new field. 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
Our programs 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
>> Master of Actuarial Practice diploma, may be eligible for 48 units (one year full-time) of credit.
>> Master of Actuarial Studies Cognate disciplines
>> Master of Statistics Finance, Accounting, Business, Economics, Statistics, Actuarial Studies, Mathematics, Business Information Systems,
Management, International Business, Engineering, Physics, Science.
>> Graduate Certificate of Finance and
Actuarial Statistics
Professional
accreditation gstat
Graduate Statistician
24 ANU College of Business & Economics 2019 Postgraduate Guide 25I 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
26 ANU College of Business & Economics Photo 1: Australian National University 2019 Postgraduate Guide 27MASTER OF ACTUARIAL PRACTICE MASTER OF ACTUARIAL STUDIES
Program code: 7420XMACTP CRICOS code: 079658E Commencement: Semester 1 (Feb) or Semester 2 (Jul) Program code: 7410XMACTS CRICOS code: 050802G Commencement: Semester 1 (Feb) only
Duration: Two and a half years full-time, five years part-time Duration: Two years full-time, four years part-time
The program information below is current for students commencing in 2018. The ANU Master of Actuarial Practice is being 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 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 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 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. requirements include taking certain courses directly with the Actuaries Institute.
KEY LEARNING OUTCOMES T Y P I C A L F U L L - T I M E PAT T E R N O F S T U D Y KEY LEARNING OUTCOMES T Y P I C A L F U L L - T I M E PAT T E R N O F S T U D Y
Graduates of this program will: Graduates of this program will be able to:
Year Semester 1 Semester 2 Year Semester 1 Semester 2
>> possess the necessary cognitive skills to demonstrate a superior >> demonstrate a superior understanding of the key concepts in
understanding of the key concepts in actuarial studies and related 1 Principles of Mathematical Actuarial Techniques actuarial studies and techniques 1 Principles of Mathematical Actuarial Techniques
Statistics Applied Corporate Finance Statistics Elective
fields >> demonstrate high levels of cognitive and technical skill in analysing
Financial Mathematics Financial Mathematics
>> be able to demonstrate high levels of cognitive and technical skill in Introduction to Stochastic Processes specific business situations to apply the correct actuarial techniques Introduction to Stochastic Processes
Applied Foundations of Finance Elective
analysing and interpreting specific business situations so that the Life Contingencies Life Contingencies
Financial Statements & Reporting >> demonstrate the cognitive and technical skills, and the critical Elective
correct actuarial techniques can be applied thinking, to solve specific actuarial problems
2 Actuarial Control Cycle 1 Actuarial Control Cycle 2 2 Actuarial Control Cycle 1 Actuarial Control Cycle 2
>> be able to demonstrate high levels of cognitive and technical skills >> communicate concisely, accurately and confidently in a number of
Risk Theory Investment & Asset Modelling Risk Theory Investment & Asset Modelling
as well as critical thinking to solve specific actuarial problems different mediums, including written and oral
Applied Derivatives Credibility Theory Survival Models Credibility Theory
>> have strong communication skills, being able to demonstrate the Advanced course >> have strong technical research skills to justify and interpret actuarial Advanced course
Advanced course Advanced course
ability to communicate concisely, accurately and confidently in a research planning, methodology and implementation.
number of different mediums, including written and oral 3 Business Economics
Survival Models
>> have strong technical research skills to justify and interpret actuarial
research planning, methodology and implementation. Applied Investments
Continuous Time Finance
STRUCTURE
The program consists of 96 units, >> Actuarial Control Cycle 1 >> Actuarial Studies
STRUCTURE comprising: >> Actuarial Control Cycle 2 >> Business
Core courses Plus 12 units from the following list: >> Economic History
The program consists of 120 units, >> Credibility Theory Elective courses >> Economics
comprising: >> Investment and Asset Modelling 66 units of compulsory courses: >> Advanced Insurance
42 units from the following list: >> Econometrics
Core courses >> Actuarial Control Cycle 1 >> Principles of Mathematical Statistics >> Enterprise Risk Management 1
>> Financial Statements and Reporting >> Financial Management
66 units of compulsory courses: >> Actuarial Control Cycle 2 >> Life Contingencies >> Enterprise Risk Management 2
>> Business Economics >> Management
>> Principles of Mathematical Statistics >> Actuarial Techniques >> Advanced Investments
Plus 12 units from the following list: >> Marketing
>> Continuous Time Finance >> Financial Mathematics
>> Life Contingencies
>> Advanced Insurance >> Applied Foundations of Finance Elective courses >> International Business
>> Actuarial Techniques >> Introduction to Stochastic Processes
>> Enterprise Risk Management 1 >> Applied Corporate Finance 18 units to be taken from level 6000, 7000 >> Statistics
>> Financial Mathematics >> Survival Models
>> Enterprise Risk Management 2 >> Applied Investments or 8000 courses from the ANU College of
>> Introduction to Stochastic Processes >> Risk Theory Business and Economics, in the following
>> Advanced Investments >> Applied Derivatives
>> Survival Models >> Credibility Theory subject areas:
>> Research essay in Actuarial Studies (6 >> Investment and Asset Modelling
>> Risk Theory
or 12 units)
P R O G R E S S I O N S TA N D A R D P R O G R E S S I O N S TA N D A R D
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
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
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.
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.
28 ANU College of Business & Economics 2019 Postgraduate Guide 29G R A D U AT E C E R T I F I C AT E O F F I N A N C E
M A S T E R O F S TAT I S T I C S A N D A C T U A R I A L S TAT I S T I C S
Program code: MSTAT CRICOS code: 082353G Commencement: Semester 1 (Feb) or Semester 2 (Jul) Program code: CFAS CRICOS code: 082257G Commencement: Semester 1 (Feb) or Semester 2 (Jul)
Duration: Two years full-time, four years part-time Duration: Six months full-time, one year part-time
KEY LEARNING OUTCOMES T Y P I C A L F U L L - T I M E PAT T E R N O F S T U D Y KEY LEARNING OUTCOMES STRUCTURE
Graduates of the Master of Statistics will be able to: Graduates of the Graduate Certificate of Finance and Actuarial Statistics will be able to: Students must select one of the following 24-
Year Semester 1 Semester 2 unit (four-course) specialisations:
>> demonstrate statistical computing skills for use in quantitative and >> recognise the important role of financial, actuarial and statistical principles and their
data-based problem-solving 1 Econometric Methods & Generalised Linear Models application >> Actuarial Statistics*
Modelling Applied Statistics
>> understand and be able to apply the processes and applications of Principles of Mathematical
>> demonstrate the necessary analytical skills for interpreting and analysing financial, actuarial >> Actuarial Studies*
Graphical Data Analysis
multiple linear regression, survey design, mathematical statistics, Statistics and statistical information >> Finance*
stochastic modelling, generalised linear modelling techniques, the Introduction to Stochastic Processes
Regression Modelling >> demonstrate well-developed insight into Australian and international financial markets. >> Statistics*
principles of data representation, summarisation and presentation, Fundamentals of Econometric >> justify and communicate the necessary management skills for dealing with organisations,
multivariate statistical techniques, and the role and notion of both Methods teams and policy issues, so as to be able to work independently and collaboratively to
parametric and non-parametric statistics
2 Biostatistics Big Data Statistics collect, process, interpret and communicate the outcomes of financial, actuarial and
>> analyse complex problems by running and interpreting time series Statistical Learning Introduction to Bayesian Data statistical problems
models involving dynamic volatility and/or trends Analysis
Applied Time Series Analysis >> demonstrate the skills necessary to critically engage with and evaluate financial, actuarial and
>> analyse and interpret data in various contexts using the appropriate Credibility Theory
Statistical Inference statistical problems.
methodology Advanced Mathematical Statistics
>> demonstrate fundamental research skills, such as data collection,
data processing, and model estimation and interpretation in applied
statistics. A C T U A R I A L S TAT I S T I C S ACTUARIAL STUDIES S TAT I S T I C S
Students must complete 24 units from the Students must complete 12 units from the Students must complete 24 units from the
following list: following list: following list:
>> Continuous Time Finance >> Control Cycle 1
STRUCTURE >> Economic Models and Introductory
>> Applied Investments >> Control Cycle 2 Econometrics
The program consists of 96 units, A minimum of 24 units from the following A maximum of 24 units from level 6000, >> Applied Derivatives >> Investment and Asset Modelling >> Business and Economic Forecasting
comprising: list: 7000 and 8000 courses in the following >> Principles of Mathematical Statistics >> Advanced Life Insurance >> Regression Modelling
48 units of compulsory courses: subject areas: >> Life Contingencies >> Advanced General Insurance >> Principles of Mathematical Statistics
>> Survival Models
>> Regression Modelling >> Statistics >> Actuarial Techniques >> Advanced Global Retirement Income >> Life Contingencies
>> Biostatistics Systems
>> Financial Mathematics >> Actuarial Techniques
>> Principles of Mathematical Statistics >> Applied Time Series Analysis >> Econometrics
>> Survival Models >> Research essay in Actuarial Studies >> Financial Mathematics
>> Statistical Inference >> Advanced Stochastic Processes >> Mathematics >> Advanced Investments
>> Introduction to Stochastic Processes >> Applied Statistics
>> Generalised Linear Models >> Stochastic Modelling >> Computing >> Risk Theory and a maximum of 12 units from the following >> Introduction to Stochastic Processes
>> Statistical Learning >> Design of Experiments and Surveys >> Actuarial Studies >> Credibility Theory list: >> Graphical Data Analysis
>> Introduction to Stochastic Processes >> Big Data Statistics >> Financial Management >> Mathematical Foundations for Actuarial >> Financial Statements and Reporting >> Design of Experiments and Surveys
>> Applied Statistics Studies* >> Business Economics >> Generalised Linear Models
>> Introduction to Bayesian Data Analysis
>> Graphical Data Analysis >> Risk Theory >> Continuous Time Finance >> Survival Models
>> Applied Foundations of Finance >> Introductory Statistics for Business and
>> Credibility Theory
FINANCE >> Applied Corporate Finance Finance
>> Advanced Mathematical Statistics >> Applied Time Series Analysis
>> Applied Investments
Students must complete 24 units from the >> Biostatistics
>> Applied Derivatives
following list:
>> Principles of Mathematical Statistics >> Statistical Inference
>> Financial Statements and Reporting >> Life Contingencies >> Risk Theory
>> Business Economics >> Actuarial Techniques >> Credibility Theory
>> Applied Foundations of Finance >> Financial Mathematics >> Applied research essay
>> Applied Corporate Finance >> Survival Models >> Advanced Mathematical Statistics
>> Applied Investments >> Introduction to Stochastic Processes >> Mathematical Foundations for Actuarial
>> Applied Derivatives >> Risk Theory Studies*
>> Applied Valuation >> Credibility Theory >> Applied Foundations of Finance
>> Advanced Corporate Finance
* Students without the requisite mathematics
>> Advanced Investments training for direct entry into one of the master
>> Topics in International Finance programs in Actuarial Studies or Statistics are
>> Derivatives: Markets, Valuation and Risk advised to select Mathematical Foundations for
Management Actuarial Studies to be eligible for articulation
>> Applied Financial Intermediation and Debt into one of those programs.
Markets
>> Applied Portfolio Construction
>> Trading and Markets
>> Applied project in Finance
>> Financial Mathematics
>> Introductory Statistics for Business and
Finance
30 ANU College of Business & Economics Photo 1: Australian National University 2019 Postgraduate Guide 31Overview
Business and
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
management
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
We offer nine graduate programs designed for students wanting to:
Entry into the Graduate Certificate of Management requires students to have completed an Australian bachelor degree with
>> prepare for the next level of leadership 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.
>> enhance their management skills, or
All students must also satisfy the university’s English language admission requirements—see page 67.
>> take on the challenges of entrepreneurship.
Advanced programs
These programs are professionally oriented, evidence-based courses of study,
RSM masters programs have advanced versions that have higher entry and progression requirements. Program duration is
delivered through intimate, interactive seminars and tutorials. 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
Flagship program 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.
>> 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
Professional
accreditation
32 ANU College of Business & Economics 2019 Postgraduate Guide 33I 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
34 ANU College of Business & Economics Photo: Holly Treadaway 2019 Postgraduate Guide 35M A S T E R O F B U S I N E S S A D M I N I S T R AT I O N M A S T E R O F B U S I N E S S I N F O R M AT I O N S Y S T E M S
Program code: MBADM CRICOS code: 091188G Commencement: Semester 1 (Feb) Program code: MBINS CRICOS code: 050796M Commencement: Semester 1 (Feb) or Semester 2 (Jul)
Duration of MBA: One and a half years full-time, three years part-time Duration: Two years full-time, four years part-time
Duration of MBA (Advanced): Two years full-time, four years part-time
KEY LEARNING OUTCOMES T Y P I C A L F U L L - T I M E PAT T E R N O F S T U D Y KEY LEARNING OUTCOMES T Y P I C A L F U L L - T I M E PAT T E R N O F S T U D Y
Upon successful completion, graduates will have the knowledge and Upon successful completion, graduates will possess the knowledge and
skills to: Year Semester 1 Semester 2 skills to: Year Semester 1 Semester 2
>> evaluate and synthesise evidence to inform decision-making 1 Evidence-Based Management Financial Reporting & Analysis >> evaluate and synthesise evidence to inform decision-making 1 Evidence-Based Management Accounting Information Systems
Managing in a Global Context Leading People & Change Managing in a Global Context Relational Databases
>> create opportunities and novel solutions to organisational >> create opportunities and novel solutions to organisational
Marketing & Stakeholder Organisational Behaviour Marketing & Stakeholder Digital Transformations
challenges challenges
Communication Communication Intelligent Business Analysis:
Strategic Management
>> work effectively with others to resolve challenges Technology & Project >> work effectively with others to resolve challenges Technology & Project Models, Processes & Techniques
>> adapt to complex and uncertain situations Management >> adapt to complex and uncertain situations Management
{ }
>> engage, inform and influence stakeholders 2 Business Economics Optional thesis >> engage, inform and influence stakeholders 2 Business Analytics for Managers Elective or specialisation
MBA
Applied Foundations of Finance Optional thesis (Advanced) Networked Information Systems Elective or specialisation
>> incorporate the influence of a changing global environment >> incorporate the influence of a changing global environment
Managing for Sustainability Optional thesis option Enterprise Systems & Strategy Elective or specialisation
>> model ethical behaviour and make principled decisions >> model ethical behaviour and make principled decisions
Entrepreneurship & Innovation Optional thesis Digital Strategy, Executive & Elective or specialisation
>> integrate professional knowledge and skills from fellow middle >> apply specialised knowledge and skills in the area of business Operations
managers. information systems.
STRUCTURE ENTRY REQUIREMENTS
STRUCTURE
The MBA program consists of 72 units of compulsory courses, Minimum five years work experience (including at least three years
comprising 24 units from the Management Core, 24 units of documented management experience). The program consists of 96 units, comprising 24 units from the or 24 units of electives, subject to individual course prerequisites.
Management Essentials and 24 units of Business Essentials. Management Core, 24 units from Computing Essentials, 24 units from
With one of the following qualifications or test:
the Business Information Systems specialisation, and either 24 units There is also the option for high-performing students with a distinction
There is also the option for high-performing students with a distinction
Either: from completion of one of the following specialisations: (70 per cent) grade average to extend their studies by undertaking a
(70 per cent) grade average to extend their MBA studies by undertaking
thesis component. Students who successfully complete the 24-unit
a thesis component. Students who successfully complete the 24-unit A bachelor degree or international equivalent with a minimum grade point >> Entrepreneurship and Innovation optional thesis component will be awarded an MBIS (Advanced).
optional thesis component will be awarded an MBA (Advanced). average (GPA) of 5/7. >> International Business
Or: >> Leadership
An ANU Graduate Certificate of Management with a minimum GPA of >> Marketing
5/7. >> Project Management
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.
36 ANU College of Business & Economics Photo: Paper Monkey 2019 Postgraduate Guide 37You can also read
