Major study areas for Bachelor of Business and Commerce and Bachelor of Communication

ACCOUNTING

Accounting is the systematic recording, reporting, and analysis of financial transactions. It can be done on a large scale - for international corporations - or for individuals or for any sized business in-between. There are agreed national and international rules and regulations that govern the work of accountants. Accounting allows a company to analyse its financial performance, and report important statistics such as profit and loss to managers and shareholders.

BANKING AND FINANCE

Finance is often defined simply as the management of money. This can relate to the finances of individuals and families, of businesses, and of governments. It can include consideration of investment risks. Retail, investment and other banks offer financial services which are designed to assist with money management, making them an important part of a financial system.

BUSINESS LAW

Graduates in Business Law typically provide in-house advice that enables organisations to operate effectively in the complex legal environment that governs business activities. They deal with the business implications of national and state laws relating to areas such as contracts, trade practices, employment, insurance, wills and estate planning, and consumer and creditor protection as well as real estate, tax, and the environment.

E-BUSINESS E-Business is the ability to perform transactions involving the exchange of goods or services between two or more parties using electronic tools and techniques. The increased availability of computers and communications, the expansion of the Internet and online services, and the drive toward global competitiveness have all contributed to the growth of e-business.

ECONOMICS

Economists analyse the production, distribution, and consumption of goods and services. They focus on how individuals, households, firms and governments interact and how economies work. Microeconomics examines the behaviour of buyers and sellers in the economy while macroeconomics analyses the entire economy and issues affecting it, including unemployment, inflation, economic growth, and monetary and fiscal policy.

ECONOMETRICS AND BUSINESS STATISTICS

Careers in the business world that use quantitative skills include the financial sector (stockbrokers, the insurance industry, finance companies, banks - e.g. developing models for investment opportunities), the manufacturing sector (e.g. providing quality control), and market research. Opportunities in the public sector include economic modelling, policy evaluation, and research into industry development.

INTERNATIONAL BUSINESS

International business covers all business transactions involving participants from two or more countries. It is a field of management which deals with the special features of moving goods, services, capital, personnel, information and technology between countries.

MANAGEMENT

If you are interested in a business degree you will probably want, at some point in your career, to move into a management role. Managers plan, organise, lead, and control. Good managers are essential to the successful running of any business no matter what its size.

MARKETING

Identifying and satisfying customer needs profitably form the basis of marketing. It includes creating, communicating, delivering and exchanging goods and services that have value to potential customers and, often, building strong relationships between an organisation and its customers. It can include market research, product development and communication strategies as well as product delivery logistics.

ARTS

For information on arts majors and minors refer to 'Areas of study' entries in this Handbook at http://www.monash.edu.au/pubs/2013handbooks/aos/index-byfaculty-arts.html.