1996 Swinburne Higher Education Handbook

of study in business modelling will also inherit valuable
multi-disci~linarv skills that are extremelv marketable
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within the business community.
Economics
Understanding economic principles is a fundamental
requirement for a career in business. An economic
approach to important practical social and business
problems is the focus of the economics major.
Stage one is designed to acquaint students with the
economic ~rinci~les necessarv to understand and evaluate
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economic commentary and reports and to analyse the
operations of government and industry in Australia.
In stage two students may choose from subjects which
emphasise the relationship . . between industry and
government; managerial economics; environmental
economics; industrial relations; macroeconomic . policy . and
economic techniques used in blsiness.
The third stage provides an added insight into some of the
specialist practical areas in economics, such as international
trade, international finance, public finance, financial
institutions and monetary policy and industry relevant
economic research.
Students completing an economics major find employment
in a wide range of challenging fields. These include
administration in both public and private sectors,
management consulting, economic policy evaluation and
financial analysis and economic research.
Finance
Finance is a field of study which is concerned with
financial and capital markets, government influences on
those markets and the role of the organisation within this
framework. Finance theory is a relatively recent
development, and draws on the disciplines of both
economics and accounting. It is taught under the auspices
of both departments. A finance major will equip graduates
with a knowledge of financial instruments which are
available; investment options available for both personal
and enterprise investment; how different forms of financial
markets function; the relationship between risk and
reward; and the relationship between the business
enterprise and financial markets, both domestic and
international. It will lead to knowledge which assists in
making financial decisions for an organisation. Finance is
one of the fastest growing employment areas. Finance
graduates who undertake some further study also qualify as
Certified Financial Planners.
Information Systems and
Technology
In today's world, information technology has pervaded
every aspect of business organisations. As such, the study
of computing and information systems and the supporting
technology is vital for any business student.
There are a number of related discipline areas and the
student can select majors or minors based on interest or
career aspirations. These options can be categorised under
three main headings:
Business computing
This would be taken by students who see themselves as
users of information systems rather than computer
professionals. The emphasis is on the effective use of
information technology within an organisation and the
development of skills for solving business problems.
Business systems
This would be taken by students who wish to focus on the
analysis of business information needs as a basis for
specification of computer based information systems rather
than the technical aspects of design and development.
Software development
Students taking this area will use a wide range of computer
software. They will be seeking to specialise in the design,
development and implementation of computer based
systems in the business environment.
Selecting one of these options in combination with other
relevant business studies enables the graduate to effectively
apply information technologies in the solving of business
problems. Students who select appropriate subjects from
the information systems offerings qualify for level one
membership of the Australian Computer Society.
Marketing
Successful companies take the path of 'market focus', that
is, their strategies are customer driven. Marketing deals
with the building and implementation of customer focus.
The meaning of marketing is often misunderstood. One
need look no further than the many advertisements
without any real substance as to customer benefits and/or
the delivery of these benefits. Frequently no distinction is
made between selling and marketing.
Unfortunately marketing has been introduced into many
organisations as the 'in word', a kind of cosmetic change,
the solution to the company's ~roblems, without changing
the focus and the attitudes prevailing in the organisation. It
has not worked, resulting in companies becoming
disillusioned with marketing. These companies did not
understand the meaning of marketing.
What does it mean? The answer is relatively simple: put
yourself inside the skin of your customers and forget
yourself for a while. That in itself is difficult to do, but that
is exactlv the difference between cosmetic and real
marketing.
To make this transition involves a rethink on your part.
Instead of thinking on behalf of your customers you have
to learn to listen to your clients, accept what they say at
face value and execute what they want.
At Swinburne we explain the components of a business plan
and marketing's central role in strategy. Students are
introduced to-topics such as consum; behaviour, demand
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