Master of Commerce (Finance)
Entry to this course requires a minimum four-year undergraduate degree with a specialisation in Finance. No work experience is required for admission. This course is designed for students who already have a solid basis in Finance and wish to develop the skills necessary to carry out independent and sustained research.
We advise prospective students who do not have the necessary background to consider the Postgraduate Diploma in Finance.
On this page:
- Course aims
- Admission criteria (Am I qualified to enrol?)
- Duration
- Program structure and methodology
More information on this website:
Course aims
On successful completion of this course, students should be able to:
- Apply the necessary analytical skills and techniques to critically assess a wide range of issues in financial management;
- Apply quantitative rigour in the assessment and analysis of financial research issues;
- Demonstrate an advanced understanding of the fundamental principles of finance;
- Critically evaluate relevant scholarly literature in finance;
- Identify, critically assess and interpret financial decision making;
- Analyse new financial issues and research data within a constantly evolving financial environment;
- Initiate a research project and formulate viable research questions for the Research Report in Finance;
- Design, conduct and report independent and original research on a closely-defined research project in the area of finance; and
- Manage financial information effectively, including the application and advanced knowledge of computer systems and software where appropriate to the student’s field of study and research report in finance.
top of page
Admission criteria
- The Selection Committee will evaluate the applicant’s ability to pursue successfully the course using the following criteria-
- a four-year undergraduate degree with a specialisation in Finance, or equivalent, with at least H2A (75%) average in the specialisation; or
- successful completion of the Postgraduate Diploma in Finance, or equivalent, with at least H2A (75%) average.
- The Selection Committee may conduct interviews and tests and may call for referee reports or employer references to elucidate any of the matters referred to above.
- The MCom is a coursework program. You do not have to submit a research proposal as part of your admissions package.
-
What is a specialisation in finance?
An applicant has a clear specialisation in finance when at least 50% of his or her level 3 and above subjects are finance subjects. This translates to eight (8) University of Melbourne equivalent subjects. Up to two (2) statistics, econometrics or quantitative methods subjects will be considered to be finance subjects.
Applicants with less than 50% level 3 and above subjects may be admitted subject to the following two guidelines:- All applicants must have at least four (4) finance subjects, excluding statistics, econometrics or quantitative methods subjects.
- The four (4) finance subjects should include subjects in the areas of investments, corporate finance, derivatives and international finance.
The Coordinator of the MCom program in Finance (or designate) will determine which subjects are finance subjects based on the evidence in the applicant’s file, normally this would be the applicant’s academic transcript. Applicants are encouraged to provide supplementary documentation that clearly indicates their range of finance knowledge, such as course outlines and/or reading lists from subjects.
Students with Advanced Professional Degrees
Where an applicant has completed subjects in an advanced professional degree, such as an MBA, MAF or MFM, these subjects may be included in calculating of the applicant’s grade point average and concentration in finance provided their content is equivalent to subjects at level 3 or above. The inclusion or exclusion of such subjects is determined by the Coordinator of the MCom program in Finance.
Accelerated Progress
- A student enrolled in the Postgraduate Diploma in Finance is eligible for accelerated admission into the Master of Commerce if he/she obtains a first class average (80% plus) in his/her first 50 points of study, provided no more than 12.5 points of the 50 points are at a third year level (level 3).
Duration
The course consists of eight subjects including a Research Report. A full-time candidiate is expected to complete the course in two consecutive semesters (one year). A part-time candidate is expected to complete the course in four consecutive semesters (two years) and to take the equivalent of two subjects in each semester. The maximum time permitted for completion is four years.
Program structure
The Master of Commerce (Finance) consists of one core finance subject, one quantitative subject, four elective subjects and the Research Report (double subject).
Core subject:
- 333-613 Foundations of Finance
At least one subject selected from:
- 333-627 Numerical Techniques in Finance
- 316-635 Basic Econometrics
- 316-636 Econometrics
- 316-637 Applied Microeconometric Modelling
- 316-638 Time Series Analysis and Forecasting
- 316-673 Financial Econometrics
- 316-678 Econometric Techniques
A maximum of three electives selected from:
- 333-615 International Business Finance
- 333-617 Financial Institutions Management
- 333-618 Advanced Derivative Securities
- 333-622 Advanced Investments
- 333-621 Advanced Corporate Finance
- 333-715 Special Topics in Finance
- 333-669 Advanced Real Estate Finance
- 306-610 Financial Statement Analysis
- Or other fourth year (level four), Masters (level six) or Postgraduate Diploma (level eight) subjects approved by the Academic Director of the program.
Research Report and Workshop (Double subject)
Important note:
- Subjects offered in the Master of Applied Finance are not available to Master of Commerce (Finance) students.
- Students may take a maximum of two subjects (25 points) at third year (level three) or fourth year (level four).
Methodology
- Students are required to read materials prior to attending class.
- Active participation in class discussion and in-group work is expected as it forms an integral part of
teaching and learning.
- The subjects are assessed by a combination of assignments and examinations.
- Workshops are provided to help students choose their research topic and help them with the undertaking and presentation of the report.
- The method of instruction may vary between subjects.