Bachelor of Health Science and Bachelor of Business for 2013

Major study areas

The Bachelor of Health Science/Bachelor of Business includes

• 16 units (96 points) from the Faculty of Business and Economics in the Bachelor of Business component at the Caulfield campus, and
• 16 units (96 points) from the Faculty of Medicine, Nursing and Health Sciences in the Bachelor of Health Science component at the Caulfield campus

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.

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.

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.

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.

HEALTH SCIENCE

For information on health science majors refer to course entry in this Handbook at http://monash.edu/pubs/handbooks/courses/4503.html