To qualify for the Bachelor degree, you must complete and pass 24 subjects. Seven of these are core subjects, which give you basic business skills. You must also complete at least one major.
Each major consists of eight subjects. The other nine subjects can be chosen from across the other three majors.
Or, you can select eight of your remaining nine subjects all from another major and you will receive a double major – simple, and it won’t take you any extra time!
Financial Management
Human Resource Management
Management
Marketing
Financial Management
The Financial Management major focuses on the types and importance of financial decisions, which have to be made by all businesses, from the local corner store or the small accounting practice right up to the huge multinational corporation. These decisions range from what assets a business should buy, what methods of financing should be used to purchase these assets, and what the business should do with any profits it makes, through to the day-to-day management and strategic decisions associated with maximising a business's profits.
The finance techniques and skills taught in the financial management subjects are the same as those applied when working in the financial environment. As an example, the methods to value shares taught in second year are identical to the approaches taken by research analysts or fund managers when they are recommending or making share purchases on behalf of clients. The strategies taught to limit the adverse effects of a falling dollar are those employed by multinational companies with international operations or export activities. As well, students learn to appreciate the effects that individual company and financial decisions have on a wide proportion of the community, either as shareholders or through their superannuation entitlements, and how to work effectively with others to make appropriate and prudent financial decisions.
A Financial Management major can lead to a range of careers involving responsibility for making financial decisions for a diverse range of public or private sector businesses. Graduates could use their skills as a policy-maker with the Department of Treasury to determine how best to spend taxpayers' funds, or work as a financial consultant advising a company how to restructure its balance sheet so as to avoid bankruptcy. They could trade foreign currencies on the overnight money market as a means of maximising the cash flows from a company's exports, or use financial ratio analysis to evaluate the performance of a group of stores and suggest new pricing or product line strategies.
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Career Opportunities
Foreign Currency Trader, Financial Manager, Financial Advisor, Government Policy Officer, Financial Consultant
Subjects for a major in Financial Management
Introduction to Quantitative Analysis
Students will be taught to set up and solve linear equation problems using matrix algebra, and to understand and solve unconstrained and constrained optimisation problems using calculus and Lagrange multipliers. There is a strong emphasis on how to set up applied problems in mathematical form, so that techniques can be applied to practical, real-world problems.
Finance
This is the foundation unit in finance on which all later studies depend, and covers financial decisions, valuation and the capital market. This unit also covers an introduction to portfolio theory and the capital asset pricing theorem, interest rates and the mathematics of finance, efficient market hypotheses, financial ratio analysis and option pricing. Prerequisite: Introductory Microeconomics
Financial Instruments
This unit is focussed on the operation of financial markets and the pricing of the instruments. A particular focus is given to the money market and the bond, futures, and options markets. The market background and use for each instrument is given as a structure within which to see the financial calculations used to price each instrument. Interest rate swaps and options are also introduced with examples of their application, trading strategies and pricing concepts. Prerequisites: Introduction to Quantitative Analysis
Managerial Economics
This unit introduces the range of economic theory relating to the management of an enterprise, including theories relating to demand, production, organisation, the nature of an industry, pricing and investment policies, the economics of information and the impact of government policy. It focuses on how theory can help a manager discover the solution to practical problems. Prerequisite: Introductory Microeconomics
International Financial Management
This unit covers theoretical and empirical aspects of international finance from the perspective of a firm whose performance is affected by the international financial environment. Topics include the international financial system, exchange rate determination and foreign exchange markets, international parity conditions, international financial operations and direct investment. Prerequisites: Finance
Corporate Finance
This unit deals with the financial behaviour of firms, and examines finance theory, practice and financial management within the context of Australian companies. The methods by which financing and investments opportunities are evaluated by firms are discussed. Emphasis is placed on the ways in which the financial policies of companies, such as policies concerning investment, capital structure, cost of capital & dividend decision-making, are determined so as to maximise the value of the firm to its owners. Prerequisite: Finance
Financial Risk Management
This unit is designed to be an introduction to the concepts, theories and practical applications associated with the measurement and management of financial risk in general, and interest rate and exchange rate risks in particular. Financial risk management is important to firms for two reasons. Firstly, due to the existence of market imperfections, firms are able to increase their value by managing their exposure to financial risk. Secondly, firms that manage their exposure to financial risk well are better able to take advantage of growth opportunities. Prerequisite: Finance
Investment and Portfolio Management
The key components of the unit include portfolio theory and the application of risk and return concepts to portfolio construction. The unit looks at equilibrium in equity markets. This leads to the study of the market model and multifactor models of security returns. The valuation of equity securities is introduced. Portfolio theory and its practical application to portfolio evaluation and management is examined in relation to both equity and bond portfolios. Prerequisites: Finance
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Human Resource Management
In the contemporary world, organisations increasingly realise that it is people who are the key determinant of competitive advantage. Human Resource Management (HRM) is concerned with dealing effectively with an organisation's most valuable asset - its people. It encompasses issues such as recruitment and selection, motivation, determination of pay, promotion, occupational health and safety, training and development of employees, and international HRM. The Human Resource Management major aims to provide students with skills and knowledge to make decisions and formulate policies on all staffing related matters. Examples include the design and operation of criteria for staff promotions, supervisory training, the design and implementation of employee incentive and motivation schemes, preparing staff and their families for international placements, and liaising with relevant government authorities on the design of organisational safety promotion policies. Human resource management is also playing an increasingly important role in the strategic decision making of organisations. Therefore, most of the subjects offered in the HRM major have both theoretical and applied content so that the forces that influence real world outcomes can be understood and, in turn, appropriate policies developed - students understand not only the 'what' but the 'why' of real world organisations.
HRM graduates can expect to move into roles as a human resource assistant (a commencement-level position), human resource officer with responsibility for a particular function within HRM, recruitment officer with responsibility for attracting and hiring new staff, occupational health and safety officer with responsibility for the organisation's health and safety programs, or international HR manager with responsibility for international assignments and placements.
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Career opportunities
Recruitment Officer, Human Resource Manager, Personnel Officer, Industrial Relations Officer, International Human Resource Manager
Subjects for a major in Human Resource Management
Human Resource Management
Explores the operational and strategic issues of managing staff in the workplace, and seeks to develop an understanding of human resource management practices in our continually changing social, economic, industrial relations and organisational environments. Prerequisite: Foundations of Management
Organisational Behaviour
Organisational behaviour aims at understanding and managing people at work in order to improve an organisation’s effectiveness. It has three levels of analysis: individual, group, and organisation. This subject explores all three levels of analysis as well as the influence of national culture on organisational behaviour. Particular emphasis is placed on psychological aspects of organisational behaviour. Prerequisite: Foundations of Management
Interpersonal Skills and Conflict Management
This unit will provide some of the skills necessary for students entering a career in HRM by providing an opportunity to develop more effective interpersonal skills particularly in relation to conflict situations in the workplace. This unit will draw on the disciplines of communication and organisational psychology, and focus on areas that include non-verbal behaviour, assertion, listening, interaction management, interpersonal problem solving, conflict resolution, and competent interpersonal and intercultural communication. Prerequisite: Foundations of Management
Industrial Relations
Three inter-related areas are covered. The first is economic aspects of wages and industrial relations, the second is the sociological study of workers and managers, and the third is the major institutions of Australian industrial relations, including trade unions, employers' organisations, industrial tribunals and enterprise bargaining. Further topics include the evolution of wages policy, women at work and current controversies over the reform of the industrial relations system. Prerequisite: Interpersonal Skills and Conflict Management
Organisational Change and Development
Topics include the history of managing organisational change and development, forces for change, managing planned change, organisation change models, the role of the change agent, resistance to change, organisation development invention, diagnosis and needs analysis, co-opting stakeholders, organisational development techniques, ethical considerations, and case studies.
Prerequisite: Organisational Behaviour
Human Resource Development
Students are introduced to the theory and practice of training and development in the workplace and are assisted in developing some basic skills which practising trainers use in their craft. Topics include behaviourist and cognitive theories of learning, training needs analysis, design, delivery and evaluation of training, management development, organisational learning, unstructured learning in the workplace, the vocational training system, plus other current issues. Prerequisites: Human Resource Management
Human Resource Information Systems
Information is central to the strategic planning and running of organisations, and the collection and use of human resource information is a potential source of added value to the organisation. This unit focuses on organisational HR functions and how human resource information systems (HRIS) can be developed to support HR activities. The primary emphasis is on the collection of HR information, data interpretation and communication of this information to management. Prerequisites: Human Resource Management
International Human Resource Management
In this unit students' understanding of the theories of HRM will be extended to incorporate the international dimension. Topics include the organisational context, international recruitment and selection, performance management, training and development, compensation, repatriation and labour relations. Underlying themes will be drawn and likely future challenges predicted. Prerequisites: Human Resource Management
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Management
The Management major aims to equip students with the knowledge and skills to manage an organisation in today's rapidly changing and highly competitive environment. A managerial career itself is often diverse, and entails managing simultaneously the physical and human resources of the organisation. A manager decides on resource allocation issues for an organisation and to do this effectively, must have an appreciation of a strategic 'big picture' approach to management, an approach which emphasises the long-term vision of the organisation and its goals and objectives. The skills needed for a managerial career are numerous and diverse. They include conceptual and analytical skills as well as information and communication skills. The core subjects of the major provide essential components enabling students to place additional focus on areas of particular interest, through their choice of elective subjects. The management major aims to equip students with the knowledge of how to deal appropriately with unanticipated challenges and to understand what forces are behind these challenges.
Management represents a most challenging and satisfying career choice. The majority of graduates with a Management major go on to careers in the private sector, but the government sector - at both state and federal levels - is also a major employer of these graduates. Graduates may take up a position that could lead to becoming a general manager with responsibility for the day-to-day operations of an organisation. They may assume responsibility for a particular division or aspect, e.g. the Victorian division (as divisional manager) or the financial aspect (as functional manager), or take care of all its business dealings (as business manager) or the long-term 'big picture' issues (as strategic manager). Ultimately, they could manage an entire corporation (as corporate manager) or become its chief executive officer (as managing director).
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Career Opportunities
Small Business Manager, Human Resource Manager, Personnel Officer, Industrial Relations Officer, Administration Officer, Project Manager, Financial Controller
Subjects for a major in Management
Business Ethics
Ethical dilemmas are encountered by managers in both the public and private sectors. Issues of racism, feminism, politics, corruption and governance are studied with a sensitivity to ethical issues and the development of relevant problem-solving skills as the objectives.
Finance
Covers financial decisions, valuation and the capital market, an introduction to portfolio theory and the capital asset pricing theorem, interest rates and the mathematics of finance, efficient market hypotheses, financial ratio analysis and option pricing. Prerequisite: Introductory Microeconomics
Human Resource Management
Explores the operational and strategic issues of managing staff in the workplace, and seeks to develop an understanding of human resource management practices in our continually changing social, economic, industrial relations and organisational environments.
Prerequisite: Foundations of Management
Organisational Behaviour
Organisational behaviour aims at understanding and managing people at work in order to improve an organisation’s effectiveness. It has three levels of analysis: individual, group, and organisation. This subject explores all three levels of analysis as well as the influence of national culture on organisational behaviour. Particular emphasis is placed on psychological aspects of organisational behaviour. Prerequisite: Foundations of Management
International Management
Examines management in a global context. The focus is on developing students’ understanding of national cultural differences and how these differences influence management practice. Topics include the meanings and dimensions of culture, motivation and leadership across cultures, comparative organisational design, and managing ethical and social responsibility in multinational organisations. Prerequisite: Foundations of Management
Organisational Change and Development
Topics include the history of managing organisational change and development, forces for change, managing planned change, organisation change models, the role of the change agent, resistance to change, organisation development invention, diagnosis and needs analysis, co-opting stakeholders, organisational development techniques, ethical considerations, and case studies. Prerequisite: Organisational Behaviour
Organisational Structure and Design
Examines the three components that comprise organisation structure: complexity, centralisation, and formalisation. Organisational design, the constructing and changing of structure in order to meet organisation goals and factors that impact on the design process are also considered.
Prerequisite: Foundations of Management
Strategic Management
Focuses on the underlying determinants of business success, the techniques applied by top management to gain competitive advantage, and the patterns of decisions and actions taken to guide the firm in competitive environments. Key topics include industry and competitor analysis, generic strategies, core competency, manufacturing competitiveness, diversification and integration, international business strategy, organisational structure and controls, and re-engineering. Prerequisite: Organisational Behaviour
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Marketing
Marketing incorporates a broad array of subject areas, relating to the provision of goods and services based on the specific needs of different groups in society. Subjects in the Marketing major cover consumer behaviour, marketing, marketing communication, service marketing, market research, international marketing strategy and electronic marketing. A successful marketer must be highly motivated, well organised, and possess excellent written and oral communication skills. Marketers must also be computer literate, analytical and have strong interpersonal skills. The Marketing major aims to develop these skills in graduates.
When students graduate with a major in Marketing from La Trobe, they will be a professional whose skills may be utilised toward achieving a range of career opportunities, for example, as a product manager, brand manager, marketing executive, account manager, advertising executive, public relations, market research consultant, sales manager or Chief Executive Officer. Graduate students could take a position in product management, where responsibilities may include identifying market opportunities by keeping abreast of marketplace developments; price setting across market channels; assisting in the development of market plans for new and existing products; or presenting ideas to both management and clients.
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Career Opportunities
Marketing Manager, Market Researcher, Media Planner, Advertising Officer, Sales Manager, Public Relations Manager, Business Development Manager
Subjects for a major in Marketing
Marketing Principles & Practice
Introduces marketing principles and practice as applied to mainly fast moving consumer goods. Students will acquire the skills to formulate a marketing/business plan for a product. Topics include the marketing concept, the marketing environment, buying behaviour, customer segmentation, targeting and positioning, developing the marketing mix and the implementation and control of marketing programs.
Consumer Behaviour
Details the influences on the behaviour of consumers, including motivation, personality, culture, social class and family. Consumer decision making and models of buyer behaviour are also outlined. Social and political aspects of consumerism are considered. Prerequisite: Marketing Principles & Practice
Marketing Law
This subject aims to provide students with an understanding of commercial law as it applies to the marketing industry including: Intellectual Property law; the effect of the Trade Practices Act 1974 (Cth) in the areas of packaging and labelling, product liability, advertising, sales promotion and restrictive trade practices; Privacy law; and the law relating to spam. Prerequisite: Law of Commercial Contract
Services Marketing
Develops an understanding of the special characteristics of services marketing and builds on the fundamental principles of marketing. Topics include the distinguishing characteristics of services and service organizations, service buyer behaviour, customer satisfaction and service quality, developing and managing the services marketing mix and managing demand and supply in service industries. Prerequisite: Marketing Principles & Practice and Consumer Behaviour
Strategic Marketing
Provides an appreciation of the contemporary approaches to strategic marketing. The relationship with corporate planning is explored and various aspects of marketing environment analysis and internal organisational analysis are covered as inputs to strategy development. The role of marketing information is addressed and a number of strategic approaches examined. Prerequisite: Marketing Principles & Practice
Marketing Communication
Outlines the elements of the promotional mix in further detail. Topics include marketing communications systems, developing and evaluating advertising, media planning and analysis, management and techniques of personal selling, sales promotions, direct marketing, public relations and self-regulation within the advertising industry. Prerequisite: Marketing Principles & Practice
Marketing Research
Introduction to market research, covering basic information gathering techniques, survey design, simple and multivariate statistical techniques and report compilation.
Prerequisite: Business & Economic Statistics and Marketing Principles & Practice
International Marketing
Focuses on the nature of the international marketplace and the problems and decisions facing managers of international marketing. Major topics are the international marketing imperative, analysis of foreign environments, development of international marketing strategies and the implementation of marketing programs across different nations and within nations.
Prerequisite: Marketing Principles & Practice
Electronic Marketing
Aims to develop and extend the theory and practice of marketing and marketing management to electronic technologies. Topics include segmentation of electronic markets, marketing strategies, interactive selling, pricing policy for electronic markets and measuring performance of electronic marketing. Prerequisite: Consumer Behaviour OR Services Marketing
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