The following specialisations are available through the Master of Commerce:
- Business Information Systems
- Business Law
- International Business
- Logistics and Supply Chain Management
- People, Management and Organisations
- Project Management
- Quantitative Business Analysis
- Quantitative Finance
- Strategy, Innovation and Entrepreneurship
A career at a challenging level of professional accounting is simply one option available to graduates with this prestigious qualification. A postgraduate specialisation in Accounting opens up a world of exciting possibilities for the ambitious student in further research as well as the global financial sector. The Accounting specialisation equips students with an advanced level understanding of issues and practices related to an ever-changing global environment. The core units provide essential knowledge in financial reporting, international bank management and financial services and an overview of global financial institutions and banking. The course offers a comprehensive introduction to the legal environment of business, with extensive attention paid to contract, corporations and property law. The course examines key issues surrounding mergers and acquisitions, as well as bank management, and provides students with the necessary resources for interpretation, reporting, prediction, and assessment in the public and private financial sectors. With its emphasis on risk assessment and management, an accounting specialisation at the postgraduate level qualifies the student in the development of modern financial theory and its application to financial decision-making.
The Banking specialisation offers the highest standard of qualifications in the theory and application governing contemporary financial institutions. It includes a detailed examination of the workings of banks and related deposit-taking financial intermediaries in the context of the banking system in particular and the financial system generally. The core units equip students with an in-depth understanding of the structures and functioning of financial institutions, and issues related to banking in a contemporary, globalised economy. As well as providing the necessary knowledge of bank management, risk management and risk assessment, the Banking specialisation offers intermediate corporate finance, equipping graduates with a well-rounded qualification that is modern, in-depth and competitive.
The Business Information Systems specialisation focuses on the essential development and management of information, systems, and processes that drive modern businesses and allow them to innovate. An understanding of Business Systems and how information technologies can be used by business is important to the work of all business professionals including executive managers who determine the organisation's strategic direction. The Business Information Systems specialisation offers essential knowledge for relating the most up-to-date information technologies and systems to business and organisational needs with a focus on the strategic role of integrated business systems and processes. This specialisation is accredited by the Australian Computer Society (ACS). The ACS is the recognised association for Information and Communications Technology (ICT) professionals.
The legal system is part of the environmental framework for all business activity. This means that business must identify new legal standards as the law changes and determine suitable policies and practices for meeting those legal requirements. The development of a knowledge economy has also increased the need within organisations for expertise in both traditional areas like contract law and new fields like intellectual property and eBusiness transactions. The Business Law specialisation is designed to develop a sound understanding of the impact of commercial law on business activity. Graduates will also be able to recognise potential legal problems and work in house on their solution, and to recognise when to seek expert advice and maximise interactions with the legal profession. The emphasis throughout the specialisation is on the legal problems likely to be encountered by graduates in their future careers, whether these be in the public or private sectors. This specialisation adds value to any business graduate by providing a framework of legal knowledge and capabilities in problem framing and solution, assessment of risk and compliance. Commercial law has always been an important part of the professional education of accountants (the units are accredited for accounting purposes) and provides a useful second specialisation for students specialising in business or finance related fields.
The Econometrics specialisation is designed to produce graduates with skills that can realise the profit potential of data. It is intended for students who have a primary interest in the analysis of data, as well as for those wishing to develop their analytical skills in the primary area of economics. Students may be seeking skills for use within current employment areas, or for understanding current research reports; or they may be looking towards future employment in analysis.
The Economics specialisation builds a clear understanding of the overall context of business and government. The core units, with their strong focus on social data and events, give graduates the competitive edge in areas of analysis and policy work. The Discipline of Economics at the University of Sydney is one of the important training grounds for Economists in the region. The Economics specialisation includes in-depth analysis of microeconomics and macroeconomics, investigating market structure and strategic business decisions. An international focus on money and finance is paramount in keeping up with the globalised nature of contemporary economics. As well as providing essential perspectives on international economics, the course includes the study of industrial competitiveness, as well as trade and development, and bank management.
Core units in areas such as corporate finance and financial strategy provide a rich set of insights into financial, competitive and corporate strategies for enhancing cash-flow. The course ensures that graduates are well armed with an understanding of the foundations of strategy, which come from the 'Game Theory'. The focus is towards an understanding of the complexities of modern risk management as well as the fundamentals and technical tools for all aspects of finance in a global setting. The core units cover broking and market making, advanced asset pricing, portfolio theory and applications, derivatives securities, international business finance, fixed interest securities and financial statement analysis, as well as the applications of high level financial theory to understanding mergers and acquisitions and the international market.
The international business program is designed to provide students with knowledge and skills relevant to the development, strategy and management of international business organisations and the institutional context for their development, growth and operation. The program encompasses the broad domain of international business studies including multinational and transnational business activities, strategies and managerial processes that cross national boundaries, joint ventures and strategic alliances, mergers and acquisitions, and the interactions of international business organisations with their economic, political and cultural environments.
This specialisation is intended for students wishing to develop careers in the fields of logistics and supply chain management, as well as those currently practising in these areas. A specialisation theme throughout the specialisation is that sourcing, manufacturing and distribution are of primary importance in the formulation of business and corporate strategy. Thus the emphasis of this specialisation is on the operations and logistics function in companies that source, produce, distribute and market nationally and internationally. This specialisation provides a sound grounding in the concepts, techniques and principles that underlie logistics and supply chain management and discusses these issues from a managerial, practice-oriented perspective. Students will develop skills in strategic planning, operations and human resources, and the application of analytical tools such as network analysis, inventory and distribution, vehicle routing and scheduling, and development of information systems.
Effectively managing people and organisational change are key attributes of successful businesses. The specialisation in People, Management and Organisations encompasses the basic functions and processes of management as well as electives which focus on organisational behaviour, human resource management, organisational change, communication, sustainable business practice, diversity and industrial relations.
Marketing is the function that links a firm to its consumers. A Marketing specialisation offers exciting opportunities for research, theory and strategy in all aspects of business and organisation. The Marketing specialisation develops on basic marketing principles to give students the leading edge in marketing strategy and planning, including market research, communications, consumer behaviour and the development and marketing of new products. The International and Global Marketing unit examines both the opportunities and dangers presented by an increasingly globalised market economy.
Project Management is the process of initiating, planning, executing and controlling activities to deliver business value within defined scope, time, cost and quality constraints with acceptable levels of risk. The Project Management specialisation is essential for students seeking a management or consulting career in industry or government. In this specialisation students are introduced to the nine, core knowledge areas of the international institute of project management. The electives that may be taken from a number of disciplines (Marketing, International Business, Operations Management & Econometrics, Work and Organisational Studies or the Institute of Transport & Logistics Studies) aim to develop understanding and skills to equip students to take on multi-national projects with a good understanding of relevant issues when projects cross country and cultural boundaries, and an in-depth understanding of a specific domain area in which projects are of increasing importance. The Project Management specialisation completes with the Project Management in Practice unit in which students assess the effectiveness of real work projects by analysing a variety of real cases, developing the ability to apply project management principles in practice-oriented contexts.
The Quantitative Business Analysis specialisation is for students who wish to master the tools of quantitative analysis and apply them in a business setting. This involves building models of business problems and analysing business data. In today's business environment there are often great amounts of data available, but few people with the skills to realise its profit potential. There are opportunities to apply sophisticated analytical approaches in many different functional areas (such as in accounting, marketing, finance and operations).
The Quantitative Finance specialisation is for students who want to apply quantitative methods of analysis within a financial context. The specialisation introduces many of the theoretical and analytical tools that are important in modern finance. Students will learn techniques for analysing financial data and also the skills needed to build and use models for financial forecasting and decision making. There is an emphasis on spreadsheet methods that can be applied in practice.
Strategy is a critical component of a business. Increasingly, a premium is placed on strategists who are able to exploit creativity and innovation to attain competitive advantage. In this specialisation, we focus on creativity and innovation in strategy formulation and on the importance of formulation being complemented by a strong capability in strategy execution. We investigate these factors in both entrepreneurial and corporate settings. Electives cover topics such as opportunity identification and business start-ups, managing growth, business restructuring, business negotiations, intellectual property management, managing change, management consulting and the nature of innovative organisations.