Master of Commerce University of Melbourne

Last Updated on July 31, 2023 by Oluwajuwon Alvina

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Melbourne Uni Master Degrees

Gaining a Master’s in Commerce in Canada provides students with the opportunity to learn in a country that is known for its dedication to education. In fact, each year Canada continues to be named one of the most educated societies in the world. Each province runs its own education system, which allows students the opportunity to choose from a range of quality programmes through which to advance their educational pursuits.

The Master of Commerce degree is designed for students to develop advanced skills in carrying out independent and sustained research. The thesis should demonstrate a critical application of specialist knowledge and make an independent contribution to original research.

The Master of Commerce degree is a research classified course, and is only offered in the discipline of Actuarial Studies. The Master of Commerce research degree has a thesis length of approximately 30,000 words.

Supervised research on approved topics may be undertaken on a full-time or part-time basis in the discipline of Actuarial Studies.

Actuarial Studies is a discipline well-known for its quantitative aspects and mathematical rigour. Actuaries assess, evaluate and manage the financial risks faced by individuals, organisations and governments for future planning.

Why study Actuarial Science at Melbourne Business School?

Study in a world class research centre: The Centre for Actuarial Studies sits within the Department of Economics and is a registered Centre of Actuarial Excellence (CAE), accredited by the Society of Actuaries (SOA). This is the highest level of recognition the SOA offers to universities, and has specific requirements relating to degree, curriculum, graduate count, faculty composition, graduate quality, appropriate academic integration, connection to industry, and research/scholarship.
Accreditation: Students who perform to a high enough standard are able to start working towards Part I of the professional requirements of the Actuaries Institute.
Connect with your peers: The University of Melbourne Actuarial Students’ Society provides a calendar of events every year, aimed at building social connections and offering members career opportunities.
Select your pathway: Build upon the foundation of your Actuarial Science major and develop advanced professional skills through the ‘practice’ pathway, or begin preparing for studies in a Doctoral Program through the ‘research’ pathway.
Become part of our global network: With over 60,000 business alumni in over 100 countries, you’re ensuring that you join a valuable network of peers from all business disciplines right from day one.

Fees

International full fee (IFP) places are available for this course

2020 fees

Indicative first year feeAUD$42,944
Indicative total course feeAUD$42,944

2021 fees

Indicative first year feeAUD$42,944
Indicative total course feeAUD$42,944

Unless otherwise noted, the indicative fees shown assume a study load of 1 EFTSL (equivalent full time study load) commencing semester one of the listed year, except for courses with a duration of less than 1 EFTSL. The indicative total course fee assumes indexation of the listed year’s annual course fee at 5 per cent per annum for every additional year of study.

Entry requirements for the Master of Commerce

The following are minimum entry requirements and do not guarantee entry:

In order to be considered for entry, you must have completed:

A four-year honours degree in economics, commerce or a related discipline of at least second class honours (H2B 70-74%) standard;
Successful completion of a preliminary course, normally the relevant Postgraduate Diploma, at an overall standard at least equivalent to that required for second class honours.

You must also provide:

A research proposal of 1000 words;
The results of a Graduate Record Examinations (GRE) completed within the last 5 years;
Referee reports outlining suitability to undertake research studies (except for applicants who have graduated from the University of Melbourne within the last 5 years); and
The endorsement of a prospective supervisor.

Master of Commerce (Finance)

The Master of Commerce (Finance) represents Years 1 & 2 of the new 5-year Doctoral Program in Finance and is only available to students pursuing the doctoral program.

Entry requirements

1. The Selection Committee will evaluate the applicant’s ability to pursue the course successfully using the following criteria:

A four-year undergraduate degree in finance or a quantitative discipline, or equivalent, with at least H2A (75%) average;
Successful completion of university level subjects in Calculus and Linear Algebra;
The applicant’s submitted statement of intent in seeking entry; and
The applicant’s performance on either the GMAT or the GRE. An applicant who has written the GMAT exam must achieve a minimum score of 45 on the Quantitative section, 28 on the Verbal section and 4.5 on the Analytical Writing section. An applicant who has written the GRE exam must achieve a minimum score of 156 on the Quantitative section, 151 on the Verbal section and 4 on the Analytical Writing section, or equivalent scores under the scale used on the GRE exam prior to August 2011.

2. 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.

Inherent requirements (core participation requirements)

The Faculty of Business and Economics welcomes applications from students with disabilities. It is University and Faculty policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student’s participation in the Faculty’s programs.

The BCom and Masters degrees of the Faculty of Business and Economics equip graduates with the knowledge and technical skills necessary to understand and participate in the modern business world. The degrees include the following academic requirements for study:

(1) The ability to explain and evaluate concepts, theories, institutional arrangements and operations of modern mixed economies;
(2) The ability to critically evaluate the economy, commerce and business in the broader social and political context;
(3) The ability to explain and apply concepts across a range of commerce and business disciplines in solving business and policy problems; and
(4) The ability to contribute positively to the development of organisations and society in relation to business, government and the commercial professions.

All students of the Faculty’s courses must possess intellectual, ethical, and emotional capabilities required to participate in the full curriculum and to achieve the levels of competence required by the Faculty. Candidates for the BCom degree and for FBE Masters degrees must have abilities and skills in communication; in conceptual, integrative, and quantitative dimensions; and in behavioural and social dimensions.

I. Communication: The student must be able to communicate effectively and efficiently in oral and/or written form. A student must have the ability to clearly and independently communicate knowledge and application of a discipline, principles or practices during assessment tasks, and in some discipline streams.

II. Intellectual‐Conceptual, Integrative and Quantitative Abilities: The student is expected to have the ability to develop problem‐solving skills and demonstrate the ability to establish study plans and priorities. These abilities include measurement, calculation, reasoning, analysis, and synthesis. Problem solving requires all of these intellectual abilities. Students should also have the ability to comprehend complex disciplinary and cross disciplinary information related to the BCom and Masters degrees.

III. Behavioural and Social Attributes: A student must possess behavioural and social attributes that enable them to participate in a complex learning environment and the emotional health required for full utilisation of his/her intellectual abilities. Students are required to take responsibility for their own participation and learning. They also contribute to the learning of other students in collaborative learning environments, demonstrating interpersonal skills and an understanding of the needs of other students. Assessment may include the outcomes of tasks completed in collaboration with other students. Integrity, concern for others, interpersonal skills, interest, and motivation are all personal qualities that are deemed necessary for students enrolled in FBE courses.

Scholarships

Available to high achieving students undertaking graduate research at the University of Melbourne. Graduate Research Scholarships

Financial assistance

There is significantly high demand for research scholarships, making the application field highly competitive.

Australian Government Research Training Program (RTP) Scholarship is usually only offered to domestic students, but in very rare circumstances, can be offered to international students as well
Graduate Research Scholarships are available to both domestic and international students

Please note: International scholarship opportunities are extremely competitive, and it is advisable for most students to explore alternative funding sources, including grant and scholarship opportunities from their home countries (where applicable). In some cases, depending upon your individual circumstances, you may find that you are not eligible for any of the scholarships listed above.