Major study areas for Bachelor of Business

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.

BUSINESS STRATEGY

Business strategists develop action plans that are designed to guide business operations and investment decisions, and to maximise returns on investment. Business strategies are continually reviewed and updated to take into account new opportunities or unforeseen circumstances, such as a global financial crisis, or the entry into the market of a new competitor business.

DATA VISUALISATION AND MODELLING

Decision makers in organisations rely on information to make decisions but they are frequently faced with situations in which there is simply too much data available or the data that is available is difficult to interpret. Credit card purchasing data and data from loyalty schemes like Flybuys or frequent flyer programs are good examples. Data visualisation takes numbers or data and presents them in a visual format - using graphs, charts or simulations - so that the information is clear and easy to understand. People in this field are often skilled in extracting information from databases or other sources, interpreting the data and working out mathematical models about it.

ECONOMETRICS

Econometricians use mathematical techniques to make predictions about the impact of an economic change. Econometricians could answer questions like: What will be the impact of a proposed taxation change? Does changing a work environment in a certain way improve productivity? Answering these types of questions helps decision makers in industry and government to understand the economic impact of different policy options.

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.

ECONOMICS AND FINANCE

This interdisciplinary field of study addresses issues of how financial markets impact on the economy, and how this is important for business and public policy decision-making.

HUMAN RESOURCE MANAGEMENT

Human resource professionals are typically responsible for making sure a workplace is productive, harmonious and safe. They manage staff recruitment and salary payments, and provide managers with expert advice on conflict resolution and staff retention.

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.

MANAGEMENT AND MARKETING

Management is the process by which organisational goals are attained by integrating human activity through planning, organising, controlling and leading. Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large. This major integrates the body of knowledge in these two areas for future business decision makers.

PSYCHOLOGY

Psychology examines human nature: how we interact, operate and think. It is concerned with problem-solving, perception, decision making and communication. Business psychology seeks to adapt this understanding to assist organisations to operate more effectively.

QUANTITATIVE ECONOMICS

Quantitative economics involves applying mathematical concepts to economic theories and situations. Essentially it combines economics with business statistics and econometrics and it allows you to apply the principles of economics and statistical methods to decision making in the areas of business and public economic policy.

SPORTS MANAGEMENT

Sport is a global business and one of the world's most important cultural activities. Sport management focuses on the cultural and economic influences of sport as well as its marketing and administration.

TOURISM

The study of tourism includes the behaviour and motivations of tourists, businesses that service tourists and the economic, social and environmental impacts of tourism. Skills developed are primarily in management, marketing and business studies and, accordingly, prepare graduates for work in wide variety of tourism industries.