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Faculty of Economics and Commerce

Annual Report 2004 – Outlook 2005

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Contents

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2 Message from the Dean 4 The University of Melbourne 5 Faculty of Economics and Commerce 7 2004 Faculty Highlights 8 Academic Programs 11 Research and Research Training 12 Internationalisation 15 Staffing 16

Distinctions and Awards

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Business and Community

19 Statistical Tables 22 Research Grants 25 Departmental Profiles 28 Centres in the Faculty 31 Graduates of the Faculty 33 Commerce Alumni Society Report 34 People in the Faculty 50 Contact the Faculty

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Our Faculty has been a pioneer in the business education field in Australia: the first chair in economics in 1855, the first marketing course in the 1930’s, the first accounting chair in 1954, and equal first MBA program in 1963 (now offered through the Melbourne Business School).

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Message from the Dean

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We have continued this proud tradition by launching new programs such as the Master of Applied Commerce, Master of Applied Finance, Master of Business and Information Technology and the Master of International Business, to name a few. We have also continued to develop the Bachelor of Commerce program, the leading course of its type in Australia. With 34 full professors, 145 faculty, nearly 7,000 students and 23,000 alumni, the Faculty is a powerhouse in its field. In 2004, I would make particular mention of the: – Appointment of two Nobel Laureates, Professor Sir Clive Granger from the University of California (San Diego) and Professor Sir James Mirrlees from Cambridge University. These eminent scholars will both add greatly to our research activities and support our undergraduate and research training programs – Expansion of our equity programs to provide access to disadvantaged students – Diversity of our 2,000-strong international student cohort, supported by a significant expansion of our international exchange program with overseas universities – Teaching and learning awards our staff received – High rate of output of first-rate research.


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Collectively, these things are helping us to maintain a position of leadership in Australia. But local leadership will not be enough. In the global university marketplace of today, the spectre of a quasi-monopoly over talent is real with the increasing power of the top Northern Hemisphere business schools. This is of vital concern for Australia, not just for students past, present and future, but for employers seeking a competitive edge. It is vital that the Faculty becomes a significant global player. How else will we attract the best staff and the best students in the world? How else will Australian business leaders be adequately equipped – other than by leaving to go overseas? To stand out on the world stage sets a big challenge for us all. It will require planning, ambition, resourcefulness and a great deal of support. Support from a wide variety of people and in many forms. 2004 will mark the year that the Faculty decided to embark on a major initiative to build this support base. From 2005, this initiative will be a major focus for us and will be a University priority with the full backing of our new Vice-Chancellor, Professor Glyn Davis.

We intend to build much closer ties with the private sector and with our alumni, both at home and overseas.

In 2005 we will communicate our vision and build the case for three strategic programs we regard as vital to our future: – To build a major endowed scholarships program to attract top students from around the world – To fund a major endowed chairs program to attract scholars of international renown to Melbourne (at present the Faculty has no perpetual endowment for funding chairs) – To make a significant capital contribution to the new $90 million Faculty building project (due to open in 2008), enabling the establishment of a world class facility that goes beyond traditional classrooms, encouraging dialogue between business and academia, and providing a learning environment to inspire future business leaders. We hope that you will find this report on the activities of the Faculty in 2004 and the profile of the academic and administrative staff of interest. Professor Margaret Abernethy Dean


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The University of Melbourne In 2004, the University of Melbourne was ranked #1 in Australia by the Melbourne Institute of Applied Economic and Social Research study, The International Standing of Australian Universities. This follows the worldwide ranking of the University at #22 by the Times Higher Education Supplement. Since its foundation in 1853, the University of Melbourne has built this international reputation based on high standards of scholarship and teaching, prestigious international links and the quality of its academic staff and students.

There are 40,000 students at the University of Melbourne, including about 10,000 pursuing higher degrees, supported by nearly 6,000 staff. The Faculty of Economics and Commerce is one of 11 faculties. The others are the faculties of Architecture, Building and Planning; Arts; Education; Engineering; Law; Medicine, Dentistry and Health Sciences; Music; Science; Veterinary Science and Land and Food Resources. Each faculty conducts courses for various degrees of bachelor, masters and postgraduate diplomas. The majority of undergraduate students take subjects from more than one faculty and many are concurrently enrolled in degrees from two faculties.

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The University also confers the Doctor of Philosophy degree and higher doctorates. The University is a member of the Group of Eight leading comprehensive research-intensive universities in Australia. The Group of Eight universities undertake 70% of all research conducted in Australian universities and over half of all basic research conducted throughout Australia. They also produce between 60% and 80% of internationally recognised Australian research publications in every field of research and over 80% of internationally cited university research from Australia. In addition, the University is a member of Universitas 21. Universitas 21 is an international network of leading research-intensive universities. Its purpose is to facilitate collaboration and cooperation between the member universities and to create entrepreneurial opportunities for them on a scale that none of them would be able to achieve operating independently or through traditional bilateral alliances The main University campus covers 20 hectares and is located at Parkville, two kilometres north of Melbourne’s city centre and financial district. A number of residential colleges and student apartments are located close to the campus.


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Faculty of Economics and Commerce

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History Economics has been taught at the University of Melbourne since its foundation. W.E. Hearn was appointed as a professor of history and political economy in 1855.The Faculty was established in 1924 with teaching for the Bachelor of Commerce degree commencing on 2 March 1925. The foundation Dean of the Faculty was Professor Sir Douglas Copland who remained a leading figure in Australian economics and politics until his death in 1971. The Faculty’s 500-seat main lecture auditorium is named after him.

The Faculty has always been a pioneer in business education in Australia. Marketing has been taught since the 1930’s; in 1954 it appointed A.A. Fitzgerald as the first full-time professor of accounting in Australia; the MBA degree was introduced in 1963 (now taught in the Melbourne Business School). More recently, the Faculty has introduced Masters degrees in business and IT, applied finance, international business, applied commerce and accounting.

Pictured above standing left to right: Staff of 1925: Mr G.L. Wood, Mr A.A. Fitzgerald, Mr E.V. Nixon, Mr E.C.W. Kelly. Seated: Mr R.B. Lemmon, Professor D.B. Copland

The student population has changed from an initial intake in 1925 of predominantly part-time students working in commerce in the city of Melbourne to full-time students drawn from Australia and overseas who are amongst the most able of their generation. Since 1925, over 23,000 students have graduated from the Faculty. Many of these graduates now occupy senior positions in business, government and academia, both within Australia and internationally.

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Some 7,000 students are enrolled in the various degrees and diplomas offered by the Faculty. Approximately 5,700 students, representing one in five undergraduates in the University, are enrolled in the Bachelor of Commerce degree, either as a single degree, or more commonly in combination with another degree such as Arts, Information Systems, Engineering, Law or Science. Nine hundred students are enrolled in postgraduate diplomas and degrees, including 119 in the PhD. The Faculty teaches subjects to around 4,300 equivalent full-time students. Of this load, 46 per cent are Australian students paying under Commonwealth Supported Places; 43 per cent are international students and 11 per cent are full fee-paying Australian students. There are 120 full-time staff at the rank of lecturer and above employed in the Faculty.

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Current Profile The aims of the Faculty of Economics and Commerce at the University of Melbourne are to: – Conduct and disseminate research of international standing in the disciplines of accounting, actuarial studies, economics, econometrics, finance, human resource management, business information systems, international business, management and marketing – Provide the highest quality of teaching and training to students drawn from the uppermost cohort in Australia and overseas – Develop close and mutually beneficial relationships with business, government, the not-for-profit sector and the professions, both nationally and internationally. Teaching and research is undertaken by four Departments: Accounting and Business Information Systems, Economics, Finance and Management. The Centre for Actuarial Studies is located in the Department of Economics. The Department of Management includes marketing and international business. The Melbourne Institute of Applied Economic and Social Research is also located within the Faculty. Close collaboration exists between departments in both teaching and research.

The Faculty prides itself on its international reputation which is fostered by staff and student interchanges with overseas universities. Staff publish in the leading international journals and contribute to applied research and policy within Australia. The Faculty has been ranked in the top 1% of institutions researching in the field of Economics and Business by the ISI’s Essential Science Indicators world listing (based on 10 years of data). Seven staff have been honoured through election as Fellows of the Academy of Social Sciences in Australia. The Faculty is housed in a modern building complex with state of the art facilities for both staff and students. A Teaching and Learning Unit has been established to foster developments in multimedia and new teaching methodologies.


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2004 Faculty Highlights In all of the major areas of Faculty activity including research, community engagement, teaching, and quality infrastructure, the Faculty made significant progress in 2004. Key achievements for the Faculty included: – The appointment of two Nobel Laureates to the Faculty, Professor Sir Clive Granger, the 2003 Nobel Laureate in Economic Science and Professor Sir James Mirrlees, Nobel Laureate in Economic Science in 1996 will join the Faculty in 2005 – Increase in the number of equivalent full time student load by 4% to 4728 up from 4528 in 2003. The ratings of student satisfaction and course experience improved during the same period – Graduate outcomes for undergraduate and graduate students of the Faculty were well above the national average, with Bachelor of Commerce graduates earning up to $5,000 more per year than graduates from similar courses – Additional Faculty resources were committed to building relationships with rural, underrepresented, interstate schools and indigenous communities in Australia. Activities focused on communicating opportunities and building relationships with careers advisors, students, parents, principals and the media in regional Victoria

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– More research was undertaken in 2004 than ever before. The Faculty of Economics and Commerce is one of world’s leading centres of teaching and research in core areas of accounting and business information systems, actuarial studies, economics, finance, management and marketing. The Faculty played a key role in achieving a world ranking of #12 in the World Social Science University Rankings published by the Times Higher Education Supplement in February 2005 – The University Council approved a new 11 storey Economics and Commerce building to be located at 198 Berkeley Street. The new building will include lecture theatres, teaching laboratories, general access student laboratories, student services and facilities and staff accommodation. The building is expected to be complete for occupation in 2008 – An additional 143 computers for undergraduate students will be available from March 2005 in Bouverie Street. Two additional teaching laboratories and an honours research laboratory were also established for undergraduate teaching. Additional teaching facilities were commissioned in the Alan Gilbert Building for postgraduate students.

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Academic Programs Undergraduate A major change to the Undergraduate program in 2004 was the introduction of the widely-publicised Higher Education Reforms by the Commonwealth Government. The University’s response to the reforms included the following policies: – A 25 per cent increase in tuition fees for the majority of courses – At least 20 per cent (1000 places) of the University’s government-supported undergraduate intake to enter through ‘Access Melbourne’, a program designed to address the academic, social and financial barriers faced by many students who apply to the University of Melbourne – Two hundred Access Melbourne students to receive ‘Melbourne Access Scholarships’ which include Commonwealth Supported Places (CSP) and an allowance of $2000 per annum for up to four years – Honours-level study encouraged with the provision of 100 Melbourne Honours Scholarships, also for a HECS-exempt place and a cash benefit of $2000 – A guarantee to Australian fee-paying students, who meet specified academic standards, that they may transfer to a CSP place in their later years

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– Opportunities for students who seek to undertake combined degrees, who satisfy specific and relevant entry criteria, to enrol in one degree as a CSP and one as an Australian-fee place. These Reforms had significant impact on the Faculty’s internal and external communication and marketing strategies. Audiences included in the Faculty’s communication and consultation process included internal staff, current students, prospective students, parents and career advisors. The Faculty’s individual response to the reforms included increased visits to Victorian schools identified as having high numbers of potential Access Melbourne students and on-campus events aimed at providing a value-added experience and access to academic staff, career advice, current students and recent graduates. The clearly-in entrance score required for the Bachelor of Commerce degree was 94.7 representing the top five per cent of students in the State with comparable levels for interstate and international students. Standards of entry for combined degrees were even more competitive.


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The total number of students enrolled in the Bachelor of Commerce, either as a single degree or as a combined degree, was 5923 up from 5484 the previous year. This represents some 23 per cent of total undergraduate enrolments in the University. Over 1000 students graduated with a Bachelor of Commerce and a further 140 graduated Bachelor of Commerce (Honours). Faculty outreach to the school community continued to increase with rural outreach, VCE Lecture Series, Master Classes, school visits and on campus activities being offered. The VCE Lecture Series was provided to final year high school students studying Economics, Accounting and Business Management. In 2004, 1127 high achieving year 10 students representing 182 schools participated in the Master Classes. Over 6000 students visited Faculty staff and facilities during Discovery Day in August. The guest speaker at the annual prize-giving ceremony was Mr Paul Murray from N.M. Rothschild & Sons Australia. The Faculty employer groups continue to generously support students with sponsorship of prizes and scholarships. The Faculty’s seven student societies were again very active with events ranging from employer information sessions to the International Commerce Student Society festival of nations event. Results of the 2003 Graduate Destination Survey were released in 2004, showing Faculty graduates continue to perform well with very high employment rates and salaries. Mean starting salary $40,349 National Average

$35,000

Employment 84% private sector 12% government sector 4% other sector The five leading industries employing graduates in full-time work were Accounting services (20% of Bachelor graduates), Banks (14%), Finance/Insurance services (10%), Mining/ Manufacturing (10%) and Government (9%). The following undergraduate courses are offered by the Faculty of Economics and Commerce: Bachelor of Commerce Bachelor of Commerce (Management) Bachelor of Commerce (Honours)

The Bachelor of Commerce (BCom) is a three year full-time program. The honours degree requires a further one year of full-time study. The Bachelor of Commerce aims at developing powers of critical analysis that can be applied in many fields, and provides professional training for a wide variety of professions. Students studying the BCom can structure their program of study in any of the following areas: Accounting Actuarial Studies Business Analysis and Systems Business Information Systems Business Law e-Commerce Econometrics Economics Economics and Environmental Studies Finance Human Resource Management International Commerce International Management Marketing and Economics Marketing Management Operations Management Organisation Studies The honours program allows students to further develop the specialisation they have undertaken as part of the pass degree. The Bachelor of Commerce and Bachelor of Commerce (Management) are also offered as a combined degree with each of the following: Bachelor of Agriculture Bachelor of Agricultural Science Bachelor of Arts Bachelor of Arts (Media and Communications) Bachelor of Engineering Bachelor of Engineering (Information Technology) Bachelor of Forest Science Bachelor of Forestry Bachelor of Information Systems Bachelor of Laws Bachelor of Music Bachelor of Property and Construction Bachelor of Science Each combined course is a five year full-time program after which students graduate with two degrees.

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Postgraduate Programs Postgraduate student numbers continue to increase, total enrolments in masters by coursework and graduate diploma programs increased to 940 up from 796 students in 2003, which translated to 657 equivalent full-time students. Enrolments in the Master of Business and Information Technology, Master of Applied Commerce (Marketing) and Master of Applied Commerce (Accounting) contributed most to the increase. The Master of Business and Information Technology offered students an internship program through global recruitment firm, Hudson. Students who participated in this program gained experience in key roles such a project management, business analysis and system documentation. An MBIT Student Group was formed in 2004 to expand the network of associates and friends, have fun socially, integrate culturally diverse MBIT course members, establish international alumni networks and provide support for new students. Numbers of students enrolled in the PhD remained stable with total enrolments reaching 119. The Whitlam Bequest funded outstanding postgraduate scholars from 13 countries. The University of Melbourne Graduate Destinations Survey 2003 found that the mean salary for postgraduates from the Faculty of Economics and Commerce was $73,687 and the mean age was 30.5 years.

The following postgraduate programs are offered by the Faculty of Economics and Commerce: Graduate Diploma in Actuarial Studies Graduate Diploma in Employee Relations and Human Resource Management Graduate Diploma in Management Studies Postgraduate Certificate in Business Forensics Postgraduate Diploma in Economics Postgraduate Diploma in Finance Master of Accounting Master of International Business Master of Human Resource Management Master of Applied Finance Master of Financial Management Master of Business and Information Technology Master of Applied Commerce Master of Applied Commerce (Accounting) Master of Applied Commerce (Business Analysis and Systems) Master of Applied Commerce (Human Resource Management) Master of Applied Commerce (International) Master of Applied Commerce (Marketing) Master of Applied Commerce (Operations Management) Master of Applied Commerce (Organisational Change) Master of Electronic Commerce Master of Commerce in Employment Relations and Human Resource Management Master of Commerce (coursework) Master of Commerce (by thesis) Doctor of Philosophy (PhD) PhD with Coursework (Accounting and Business Information Systems) PhD with Coursework (Economics) PhD with Coursework (Finance)


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Research and Research Training The Faculty continued to perform outstandingly in attracting research income, research publications and in PhD completions during 2004. Six new ARC Discovery Project Grants were awarded with a combined total income of $931,214 over the period of 2005 – 2008. In addition, two new ARC Linkage Project Grants were awarded to staff within the Faculty. A total of 22 doctorate theses were completed and awarded to higher degree by research students. The latest Group of Eight research performance benchmarking analysis shows that the Faculty has retained its top rank in the three key measures – total research income, publications and research higher degree completions.

Of significant note was the successful proposal by Professor Peter Bardsley in obtaining $1.5 million over the next five years under the ARC Research Networks Scheme. Professor Bardsley’s project titled Economic Design Network: Practical Policy Tools for Industry, Infrastructure, Services and the Environment, is a partnership of more than one hundred researchers and over forty international universities and research centres. The Network will support cross disciplinary research and policy innovation using state of the art techniques in economic theory and experimental economics.

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It will create practical policy tools that can be used to solve complex social and economic problems in industry economics, health economics and environmental policy. By linking Australian mid and early career researchers into multidisciplinary teams based around the world’s top experimental economics laboratories, it will create a world class economic design capacity in Australia. The Melbourne Institute of Applied Economic and Social Research continues to produce a wide range of contract research. For example, Associate Professor Bruce Headey and Professor Mark Wooden head a major research project surveying Australian households as part of the Household, Income and Labour Dynamics in Australia (or HILDA) Survey. HILDA is funded by the Australian Government but managed by the Melbourne Institute and involves a random sample of 8000 households living in private dwellings. The economic progress and well-being of members of these households is being tracked over time through a combination of face-to-face interviews and written questionnaires.

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Internationalisation The Faculty hosted a number of international visiting scholars under the International Staff Development Scheme; Dr Haigang Wang from the Department of Economics, Lingnan College, Sun Yat-sen University in Guangzhou, People’s Republic of China; Dr Scott Tiffin, Director for Research and International Relations, Universidad Adolfo Ibanez, Santiago, Chile and Professor Alfonso Martinez, Pontificia Universidad La Catolica, Buenos Aires, Argentina. A memorandum of understanding was signed with Adolfo Ibanez University in Chile to facilitate staff and student exchanges and research collaboration. Students and staff are now able to collaborate with over 100 institutions worldwide.

The Faculty has established an international reputation as a preferred place for undergraduate and postgraduate study. In 2004 academic and administrative staff made 40 visits overseas to promote the degree programs offered by the Faculty and keep in touch with alumni. Countries visited included China, Singapore, Malaysia, Indonesia and Thailand. In addition visits were made to the Gulf States, Europe, Latin America and the USA.

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The Faculty is focusing on building relationships with overseas employers and sponsored career and employer events in Shanghai, Singapore, Hong Kong and Kuala Lumpur. In addition, the Faculty hosted alumni events in Los Angeles, California and Washington DC, USA. Research collaboration with overseas researchers continues to grow in importance. Each department has an active seminar series featuring international researchers. The Associate Dean (International), Dr Bill Harley, participated in a high profile visit to India. Exchange and study abroad are growing in importance, and additional scholarships were made available for Melbourne students to participate in exchange programs. Visits to partner institutions in Europe and the USA were made by staff and students alike. The Faculty sponsored research into decision making factors for students wanting to study overseas and the outcomes of the project were presented at the Australian International Education Conference held in Sydney in October.


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Study Abroad and Exchange Opportunities The Faculty welcomed over 70 students from study abroad and exchange partners in 2004 and scholarships were made available for students from Melbourne to study at partner institutions overseas. University graduates who have spent time studying abroad gain a competitive edge in any job market, but more importantly report that the experience broadens their cultural awareness and maturity. Staff also participated in exchange, Ms Brooke Young was hosted by the International Office at the University of Nottingham for 3 months in 2004. Senior staff of the Faculty visited exchange partners including the universities of Nottingham, Birmingham, Uppsala, Rotterdam School of Management. The USC Marshall School of Business, Washington University Olin School of Business and NYU Stern School of Business were visited in partial fulfilment of a University Mobility in the Asia Pacific (UMAP) grant. The funding agency UMAP was founded in 1993 and is a voluntary association of government and non-government representatives of the higher education sector in the region. UMAP aims to achieve enhanced international understanding through increased mobility of university students and staff. The grant also helped to support scholarships for Melbourne students on exchange to Olin School of Business in 2004.

The Faculty of Economics and Commerce currently has exchange programs with the institutions listed on page 14. Students from these institutions are invited to apply to study within the Faculty. Opportunities exist for current students of the Faculty to study at these institutions also. Students of institutions not listed below are invited to apply for the Study Abroad program within the Faculty. Applications for exchange or study abroad programs should be made through the University of Melbourne’s International Admissions Office.


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Partner institutions for exchange programs: Austria University of Vienna Canada McGill University Queen’s University University of British Columbia University of Toronto Chile Pontificia Catholic University Adolfo Ibanez University

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China (People’s Republic of) Fudan University Nanjing University Peking University Tsinghaua University University of Hong Kong University of Science and Technology of China France Bordeaux I University, Sciences, Technologies Bordeaux II – Victor Segalen University Bordeaux III – Michel de Montaigne University Bordeaux IV – Montesquieu University Lyon II – Lumiere University Lyon III – Jean Moulin University Paris VII – Denis Diderot University

Germany Albert Ludwigs University of Freiburg Free University of Berlin Humboldt University University of Heidelberg India Indian Institute of Science Indonesia University of Indonesia Gadjah Mada University Ireland University College, Dublin Italy University of Commerce ‘Luigi Bocconi’ University of Padua/ Padova Japan Doshisha University Hitotsubashi University Keio University Kobe University Kyoto University Ritsumeikan University Sophia University Tokyo Institute of Technology Korea Korea Advanced Institute of Science and Technology Pohang University of Science and Technology Seoul National University Lithuania Vilnius University Malaysia University of Malaya Mexico Monterrey Institute of Technology & Higher Education (ITESM) The Netherlands Erasmus University of Rotterdam, School of Management Leiden University University of Amsterdam

New Zealand University of Auckland Norway Norwegian School of Economics and Business Administration University of Oslo Singapore Nanyang Technological University National University of Singapore Sweden Lund University Umeå University Uppsala University Taiwan National University of Taiwan National Tsing Hua University Thailand Chulalongkorn University Prince of Songkla University Thammasat University United Kingdom Heriot-Watt University University of Birmingham University of Edinburgh University of Glasgow University of Nottingham United States of America Boston College Georgetown University New York University (Stern Business School) University of California – Berkeley – Davis – Irvine – Los Angeles – Riverside – San Diego – Santa Barbara – Santa Cruz University of Illinois, UrbanaChampaign University of Southern California (Marshall School of Business) University of Texas at Austin University of Virginia University of Washington Washington University in St Louis (Olin School of Business)


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Staffing

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Professor Garry Marchant left the Faculty in October to take up a position as Dean, Faculty of Business at Bond University in Queensland. Professor Marchant provided exceptional service to the Faculty as Deputy Dean and Head of the Department of Accounting and Business Information Systems. Ms Patricia Russell retired after serving as Department Manager in the Accounting and Business Information Systems for 9 years. David Merrett was promoted to Professor in the Department of Management. Dr Anne-Wil Harzing was promoted to Associate Professor in the Department of Management.

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Dr Olan Henry was promoted to Associate Professor in the Department of Economics Dr Michael Shields was promoted to Associate Professor and Reader in the Department of Economics Business Managers were appointed as follows: Mr Jason Kreitner, Department of Finance, Ms Sherryl Anderson, Department of Accounting and Business Information Systems, Ms Wendy Short, Department of Management and Ms Rachel Derham, Melbourne Institute of Applied Economic and Social Research. Mr Eddie Choong and Ms Rocio Karibian joined the Marketing and Development Unit to develop Faculty international relations and marketing activities in India, the Gulf and Latin America.


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Distinctions and Awards Scotiabank Case Competition held at the Richard Ivey School of Business, University of Western Ontario in March 2004. The Faculty of Economics and Commerce team, Felicity Chan, Christopher Kong, Kath Cugley and Camilla Davey led by Associate Professor Greg Whitwell won the competition. The competition included teams from all over the world. Felicia Eng, a third-year Commerce/Science student at the University of Melbourne, was one of three young Australians to be awarded an inaugural Order of Australia Association Foundation Bursary. Professor Stewart Leech was awarded the Artificial Intelligence/Emerging Technologies Outstanding Educator award for his pioneering work and inspirational leadership in the teaching of artificial intelligence in accounting. A paper by Professor Danny Samson and Associate Professor Mile Terziovski, The Relationship Between Total Quality Management Practices and Operational Performance, was in the Top 10 most requested papers in the Journal of Operations Management over the period 2000-2004. Associate Professor Neville Norman was appointed President of the Economics Society of Australia for a three year period.

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The 2004 Norman Curry Award for projects or services that demonstrate innovation and excellence in support of University teaching and learning was awarded to Associate Professor Carol Johnston. Dr Lea Waters was awarded the Edward Brown Award for excellence in teaching and also received the Pearson Education ANZAM Management Educator of the Year in 2004. This award recognises an academic who has excelled in the teaching of management and has developed innovative approaches to teaching in the field. Dean’s Award for Excellence in Teaching: Dr Leisa Sargent, Department of Management, Dr John Handley, Department of Finance, Dr Jenny Williams, Department of Economics. Ms Brooke Young, Manager of the Faculty’s Marketing and Development Unit was awarded a Universitas 21 Staff Exchange, undertaken in the International Office at the University of Nottingham. The Faculty’s Information Technology Manager, Dr David Aldridge was awarded a Universitas 21 Global MBA Scholarship. Mr Stephen Collis, Manager (Professional Programs) and Dr David Walker, Executive Officer (Research), were recognised for their 25 years of service to the University.


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Business and Community

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Faculty members contribute to professional and public debate through a range of conferences, lectures, short courses and in the print media. In turn, representatives of the business community, government and non-profit bodies provide a major input into the activities of the Faculty through membership of advisory boards, and participation in conferences and seminars. Some of the Faculty’s activities in 2004 are listed below:

Conferences and Workshops

Annual Public Lectures

The Melbourne Institute runs quarterly forums in Melbourne and Canberra – the Melbourne Institute Business Economics Forum and the Melbourne Institute Public Economics Forum.

The Max Corden lecture was delivered by Dr Martin Ravallion, Senior Advisor and Research Manager at the World Bank. Dr Ravallion spoke on How the World’s Poor are Faring in the Current Era of Globalisation, held 4 March.

The 22nd Australian Economic Theory Workshop, Melbourne, 12-13 February 2004. Joint Centre for Macroeconomics and Centre for Applied Macroeconomics, ANU conference entitled Inaugural Conference on Macroeconometric Models and Methods, held 3 December 2004. Microeconometrics Workshop, University of Melbourne, 29 October 2004. The Department of Accounting and Business Information Systems hosted a two day symposium on market-based accounting research, 20-21 May 2004. The symposium provided a forum for leading international academics and Australian PhD students to discuss their research on the role of accounting information in security valuation.

The 17th Downing Lecture was presented by Nobel Prize winning political economist, Sir James Mirrlees, What taxes are best?, held 20 April. Associate Professor Neville Norman, Department of Economics gave the first in a five-lecture series celebrating the 250th anniversary of the Royal Society for the Encouragement of Arts, Manufactures and Commerce foundation in Britain. The lecture Encouraging Enterprise: a Recipe for Reinvigorating Entrepreneurship, held 8 June. The other lectures in this series were delivered as follows: Ms Sylvia Walton, Principal Tintern Schools, Developing a Capable Population, held 14 September. Dr Rhonda Galbally, CEO Our Community, Fostering Resilient Communities, held 12 October.

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The Dean’s Lecture was delivered by Professor Barry Nalebuff, Milton Steinbach Professor of Economics and Management at Yale School of Management. Professor Nalebuff spoke on Why not? How to use everyday ingenuity to solve problems big and small, held 18 June. Professor Shannon Anderson, Rice University and a Principal Fellow at the University of Melbourne delivered the 65th annual CPA Australia Research Lecture on the topic Research Update on Performance Measurement and Management, held 4 October 2004. ACTU President Sharan Burrow delivered the 19th Foenander Lecture, Two Australias: The place of industrial relations in shaping a decent nation, held 6 October. Professor Alan Taylor, University of CaliforniaDavis, delivered the Seventh Finch Lecture on the topic The Mystery of Global Capital, held 9 November.

Inaugural Lectures Professor Colin Ferguson, The Pervasiveness of Information and Communication Technology: Its Effects on Business Processes and Business Models, held 30 September.

Print Media Members of the Faculty are regularly featured television and radio guests and participate in public debate through contribution to newspapers, journals and business magazines. An on-line expert guide is available at http://www.research.unimelb. edu.au/mediacontact. A media analysis published by the University’s Media and Publications Services Unit found that the Faculty received 196 mentions in the media, including print, radio and television. The highest number of mentions concerned the Melbourne Institute of Applied Economics and Social Research. The most frequently quoted spokespersons were Professors Bruce Heady, Neville Norman, John Freebairn, Jeff Borland and Peter Dawkins. The benefits of undertaking commerce studies were well covered. For example, one article reported that the Big Four accounting firms prefer to employ graduates from Melbourne. Another noted that Asia’s booming finance industry had made the Master of Applied Finance a sought-after qualification. Department of Economics staff are featured in the weekly ‘Economic Briefing’ section of the Australian Finance Review. The articles provide background on key economic and policy issues for students and business readers.


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Statistical Tables

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Table 1 – Numbers of Students Enrolled in Faculty Courses (as at 31 March 2004) Course

International Students

Total Enrolments

BCom BCom (Hons)* BCom/BA BCom/LLB BCom/BIS BCom/BEng BCom/BEng (IT) BCom/BSc BCom/BPC BCom/AgrSc BCom/Agr BCom/ForSc

1581 26 54 142 101 125 41 25 13 0 0 0

2621 158 780 711 544 538 133 349 61 19 7 2

Total Undergraduate

2108

5923

Diploma Masters (Coursework) Masters (Research) PhD

13 418 2 41

57 883 15 119

Total Postgraduate

474

1074

2582

6997

Total

* Includes combined degree students enrolled in BCom (Hons) with their other degree. Combined degree students taking honours in other faculties are included in the relevant combined degree figures.


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Table 2 – Teaching Load by Nature of Enrolment (full-time equivalent as at 31 March 2004) Level

Australian subsidised

International fee-paying

Australian fee-paying

Total

1739

1631

317

3687

91

26

3

120

9

23

33

22

346

256

624

7

1

8

56

39

95

1915

2053

599

4567

Bachelors (Pass) Bachelors (Honours) Diploma Masters (C’work) Masters (Research) PhD

Total

Components may not add to totals owing to rounding

Table 3 – Teaching Load by Department (full-time equivalent as at 31 March 2004)

20

Undergraduate

Diplomas

Higher Degrees (C’wk)

Accounting&BIS

955

2

159

7

1123

Finance

795

8

133

11

947

37.6

1326

11

85

40

1462

27.7

721

11

246

42

1020

22.9

3807

33

624

103

4567

27.2

Department

Economics Management

Total

Notes: Components may not add to totals owing to rounding Data relate to enrolments in a subject irrespective of course Totals include 4 Higher Degree Research in MIAESR Undergraduate total includes 11’Faculty general’

Table 4 – Teaching Load,1992-2004 (full-time equivalent as at March 31)

Year 2004(August) 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992

OTHD

HD

Total

3917 3840 3793 3570 3264 3073 3147 2864 2621 2330 2124 2022 1737 1602

831 727 571 419 331 266 256 220 174 152 103 79 72 59

4747 4567 4364 3989 3595 3439 3403 3084 2795 2482 2227 2101 1809 1661

Notes: HD denotes Higher Degree OTHD denotes “other than higher degree” Business Law excluded

Higher Degrees (Research)

Total

StudentStaff Ratio 30.5


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Table 5 – Number of Academic and General Staff by Department (equivalent full-time as at 31 March 2004)

Department

Teaching & Research Full-time Casual

Research only Full-time Casual

General Staff Full-time Casual

Accounting & BIS

31.0

5.8

0

0.1

9.1

3.3

Economics

40.1

12.6

0.2

0.3

13.8

1.1

Finance

19.1

6.1

0

1.2

5.8

2.4

Management

34.6

9.6

2.1

0.1

12.0

3.4

MIAESR

4.0

0

19.5

0.6

7.1

1.4

Faculty General

5.0

0.2

0

0.1

45.9

3.5

133.8

34.2

21.7

2.2

93.7

14.9

Total

Notes: Full-time includes fractional full-time Columns may not sum to totals owing to rounding

Table 6 – Teaching and Research Staff by Category

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(full-time and fractional full-time as at 31 March 2004)

Category

Number

Professor

27.2

Assoc.Prof /Reader

25.6

Senior Lecturer

33.1

Lecturer

39.8

Other

8.1

Total

133.8

Table 7 – 2004 Annual Report Financial Data Faculty of Economics and Commerce

Revenue DEST operating grant Student fee income

2003

2004

8,849,856

9,175,310

23,605,651

28,152,145

Research income

8,443,252

9,406,372

Other

3,736,616

2,580,863

44,635,375

49,314,690

Expenditure Salaries

25,580,454

30,542,528

Non-salary

12,477,361

15,212,597

3,413,468

1,000,000

41,471,283

46,755,125

3,164,092

2,559,565

Capital

Surplus of income over expenditure * Includes provision for a new E&C facility in 2008


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Research Grants Research Grants Awarded for 2004 Professor Peter Bardsley in Economics was successful in an award from a relatively new research program – ARC Research Network Program – $1.5M over the next four years. The Economic Design Network is a partnership of more than one hundred researchers and over forty international universities and research centres. The Network will support cross disciplinary research and policy innovation using state of the art techniques in economic theory and experimental economics. It will create practical policy tools that can be used to solve complex social and economic problems in industry economics, health economics and environmental policy. By linking Australian mid and early career researchers into multidisciplinary teams based around the world’s top experimental economics laboratories, it will create a world class economic design capacity in Australia.

Australian Research Council – Discovery-Project Scheme Harm-minimisation policies and the economics of controlling elicit drug use Professor P Bardsley, Associate Professor H R Clarke (*La Trobe University) Health and intergenerational poverty in a developing country Associate Professor LA Cameron, Dr J Williams An improved framework for analysing the fiscal implication of population ageing Professor J Creedy, Professor R S Guest (*Griffith University)

> Systematic corruption and regime change: State, business and political elites in Indonesia and implications for governance reform Associate Professor H Dick Analysis of drug consumption in Australian using new microeconometric techniques for unit record Professor W E Griffiths, Dr MN Harris (*Monash University), Dr X Zhao (Monash University) Babel in business: How language differences influence management in multinationals Associate Professor A Harzing Modelling the transmission of international monetary policy shocks: Implications for Australia Professor VL Martin Business profitability and long term industrial change in Twentieth-Century Australia Professor D Merrett, Professor S Ville (*University of Wollongong) Economics of incomplete markets and pricing in equilibrium Dr RN Raimondo Policy-related lessons from the econometric analysis of life satisfaction data in Australia Associate Professor M Shields, Dr P Frijters (*Australian National University) A principled approach to computer simulation of dynamic general equilibrium macroeconomic models Dr J Stachurski


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Australian Research Council – Linkage Grants

An experimental analysis of risk pooling Dr L Gangadharan

Cycles and size: Long term valuation and investment performance Professor P Kofman, Dr H W Chan (*Monash University), Professor R W Faff (Monash University) Partner Organisation: Acorn Capital Ltd.

Bayesian inference for welfare comparisons of income inequality and poverty Professor W Griffiths

Idea sources for product innovation in Australian frontier technology: The case of the Australian IT industry Associate Professor B Lukas, Associate Professor GJ Whitwell, Professor R Widing Partner Organisation: Hansen Corporation Measuring hospital performance: Outputs, quality of care, competition and efficiency Dr J Yong, Associate Professor E Webster, Professor W E Griffiths, Professor D L Bosworth, Dr P Rosendale. Partner Organisations: Department of Human Services, Department of Treasury and Finance, Austrade *Indicates institution administering the grant.

Melbourne Early Career Research Grants

Structural estimation of a new economic geography model of world trade and factor returns Dr R Hillberry Inferences for the extremum of quadratic regression models Associate Professor J Hirschberg, Associate Professor J Lye Uncomplete markets equilibrium Dr Roberto Raimondo Investigating the effect of parental alcohol abuse and household income on child health Associate Professor M Shields Finding an example of an optimising agent with cyclic behaviour Dr P Stemp

Department of Finance The information content of turnover Beta Dr X Chang

A longitudinal study of what predicts women’s advancement in management Dr I Metz

Investment-cash flow sensitivity and lumpy investment Dr X Chang, Dr Q Zheng

Web personalisation as an eye-catching strategy: a visual search theory perspective Dr S Y Ho

Executive stock option compensation and director interlock Dr A Gygax, Dr C Tan

Computation & existence of equilibria in incomplete markets models Dr R Raimondo

Survivor of behaviour agents in financial markets Dr Q Zheng

Department of Management

Faculty Research Grants Department of Accounting and Business Information Systems The decision influencing and decision facilitating roles of performance measurement information Associate Professor A Lillis, Dr J Grafton, Dr S Widener Corporate fraud, audit committees and internal auditors Dr R Moroney, Mr P Coram, Professor C Ferguson The effects of tiered goals, incentives and participation on individual worker performance Associate Professor A Schultz

Department of Economics Optimal strategies in dynamic games of research and development Dr N Erkal

Collectivism and female sex workers in Victorian brothels Dr C Cregan The internationalisation strategies of Australian firms Associate Professor H Dick, Professor D Merrett, Dr A Sammartino, Dr T Zalan Female academic in editorial boards of management journals Associate Professor A-W Harzing, Dr I Metz Performance appraisal politics: A case of managerial malevolence? Dr M Kraimer, Dr M Brown, Dr V Bratton The psychological contract in Australian workplaces: HR managers as ‘toxin handlers’ Professor C Kulik, Dr C Cregan, Dr M Brown How marketing capabilities improve the cash flow and viability of small and medium enterprises Associate Professor B Lukas, Dr L Bove

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Supply and demand chain risk management: An Australian perspective Dr S Moosa & Professor D Samson Business networks, social capital and strategic innovation in China Dr S Morgan Stress and dual earner couples: Effects of boundary integration and gender role orientation Dr L Sargent A study of recent development in the Australian automotive industry supply chains Dr P Singh The role of protean career attitude during unemployment Dr L Water, Dr D Hall

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An analytical framework for testing stakeholder salience Associate Professor G Whitwell, Dr A Paladino Women managers in Thailand: Facilitators and barriers to advancement Dr V Yukongdi A stages model of the international diversification performance relationship Dr T Zalan

Jelena Dodic, Branding capability: A firm’s perspective on building brands. Lise Feirud, The effect of static and dynamic safeguarding mechanisms on relationship behaviours and performance outcomes. Soo Khoon Goh, Financial openness and the control of capital flows in Malaysia. Yahya Al Jabr, Accounting conservatism: Evidence from the oil and gas industry. Chang Han Joo, Value of portfolio theory. Benn Lawson, Capturing the gains from innovation: Assessing the effectiveness of appropriation mechanisms. Nuzhat Lotia, Dynamics of power and learning in collaborations. Bruce William Hearn Mackinnon, Strategic management and employee relations: CRA/Rio Tinto’s de-unionisation campaign 1991 – 2001. Shoba Nair, The impact of human resource management practices on organisational commitment: A study of the information technology industry in Australia.

Melbourne Institute of Applied Economics and Social Research

Ian Patrick O’Connor, The empirical distribution of time to maturity volatility: An application to option pricing and trading.

Improved measures and understanding of consumer price inflation in Australia Dr D Harding, Dr L Song

Janine Louise O’Flynn, Competition and contracts implementing compulsory competitive tendering in the Victorian local government.

On the equity of subsidising private health insurance: Profiling households using national health survey data Dr J Yong, Associate Professor E Webster

Piruna Polsiri, The effects of concentrated ownership on firm restructurings: Evidence from Thailand.

The impact of supplemental health insurance on health outcomes: Evidence in Australia Dr A Palangkaraya, Dr J Yong Poverty in Australia: 1982 to 2001 Dr R Wilkins

PhD Theses Completed Susan Alice Ainsworth, The discursive construction of older worker identity. Rayna May Brown, Efficiency, regulation and financial distress: mergers between Australian Credit Unions in the 1990s. Patrick Leslie Coleman, Risk and decision making by Australian managers. Kristine Frances Dery, How do organisations align human resource management with information technology? An exploratory study of four Australian firms.

Callum Scott, Data structure and learning in financial markets: An artificial neural network approach. Jan Marc Staelens, The impact of environmental regulations and stakeholders on corporate environmental strategies and performance of Japanese multinational enterprises in Asia-Pacific. Sandy Suardi, Testing for a level effect in shortterm interest rates. George Tawadros, Is ASEAN also a common currency area? Civilai Terawatanavong, Relationship sentiment and relationship outcomes: The moderating role of market orientation and bilateral interdependence. Danielle Venn, Work timing arrangements in Australia in the 1990s: Evidence from the Australian Time Use Survey.


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Departmental Profiles

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Department of Accounting and Business Information Systems The Department of Accounting and Business Information Systems, long-established as a premier educator in the field of accounting, offers an integrated approach to the teaching of accounting and the newly-emerging discipline of business information systems. The focus of many existing subjects is being changed to complement the interrelationship between the two disciplines. With a student load of over 1000 full-time equivalent students, the Department has a substantial undergraduate and postgraduate program, teaching across all areas of managerial and financial accounting, auditing and business information systems. The Department’s core undergraduate subjects are fully accredited by the professional accounting bodies. Formal agreement has been reached with a number of Universitas 21 universities for the transfer of credits for subjects in accounting. The Master of Applied Commerce (Accounting), introduced in 2003, is also fully accredited by the professional accounting bodies. The Department has a strong research profile. Its PhD program, comprising one year of coursework and two-year full-time thesis, is one of the most active and respected in the region. Several of the Department’s 30 academic staff currently hold ARC grants and serve on the editorial board of a number of leading international academic journals.

Professor Nasser Spear Head, Department of Accounting and Business Information Systems

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Professor Jeff Borland Head, Department of Economics

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Professor Rob Brown Head, Department of Finance

The Department of Economics

The Department of Finance

The Department of Economics at the University of Melbourne is the leading Economics department in Australia. It is a large Department – with 43 teaching and research staff. The Department includes the Centre for Actuarial Studies.

The Department of Finance is one of four teaching departments in the Faculty. The Department was formally established in July 2001, although finance subjects had been taught at the University of Melbourne for several years prior.

The Department is committed to achieving the highest standards in research in economics and econometrics: by making contributions to international knowledge that are publishable in leading international journals, and undertaking international quality research on the Australian economy and economic policy issues. There is a strong emphasis within the Department on encouraging a good research culture and promoting collaboration. Major areas of research are: economic theory; econometric theory; microeconomic analysis and policy design; the Australian macro-economy; operation of financial markets; health and well-being; Asian economies and the economics of international trade and development; and economics education.

The Department has grown substantially since its birth, from just over 700 full-time student units in 2002 to approximately 950 units in 2004. There is a strong honours program with intake restricted to around 40 students. A suite of postgraduate programs is offered, ranging from the practitioneroriented Master of Applied Finance and Master of Financial Management to the more specialised Master of Commerce in Finance and PhD with coursework component.

The Department places a high value on its teaching program and the quality of that program. Its objective is to offer excellent teaching in both undergraduate and graduate programs, to offer a set of subjects that meet the requirements of students and are up-to-date with developments in the disciplines of Economics and Econometrics, and to seek to be innovative in methods of teaching. Teaching covers the core areas of microeconomics, macroeconomics and quantitative methods/econometrics, as well as most other specialist areas such as monetary economics, game theory, development economics, environmental economics, and economic history. There is a long tradition within the Department of providing policy advice and expert opinions to government and private organisations. Members of the Department serve on government inquiries and boards, and undertake work for a wide variety of international agencies.

During 2003 staff from the Department gave a series of lectures for members of the Australasian Institute of Banking and Finance and in 2004 delivered treasury training programs in association with a major consulting firm. In association with the APEC Study Centre, the Department will be conducting training during 2005 for bank regulators and bankers from the APEC region. Current research interests of department staff span the field of finance and include asset pricing, derivatives, corporate finance, market microstructure, financial institutions, real estate finance and international finance. To support its research activities, the Department has access to a large number of financial databases, including Datastream, Bloomberg and IRESS. The Department hosts a large number of international visiting academics from all over the world. Department staff are involved in continuing education and executive programs and have strong links with practitioners and financial institutions. Finance hosted more than 20 research seminars in 2004, presented by academics from overseas and interstate as well from within Victoria.


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Professor David Merrett Head, Department of Management

The Department of Management Programs in the Department of Management provide an integrated management education and develop specialised knowledge in the subdisciplines of management. The sub-disciplines within the Department include human resource management, international management, marketing, organisational studies and operations management. The Bachelor of Commerce (management) provides a special opportunity for undergraduate students to concentrate on management studies. This and our professional masters level courses prepare people for careers as managers. The Department aims to develop in students, staff and other stakeholders, an understanding and capability in Leadership and Management processes in a variety of different organisations and sectors. Our teaching and research is of a high standard. The student load in the Department is about 1000 full-time equivalents, with about 750 undergraduate and 250 postgraduate students. There are over 20 honours students and over 60 students undertaking PhDs in a wide range of areas reflecting the diverse theoretical traditions and methodologies which comprise Management. Full-time academic staff currently number 46.

The Melbourne Institute of Applied Economic and Social Research The Melbourne Institute is a research department of the Faculty of Economics and Commerce at the University of Melbourne. It was established in 1962 under the leadership of Professor Ronald Henderson, as the first research institute of its kind in Australia. It has had four Directors: Ronald Henderson, Peter Dixon, Richard Blandy and Peter Dawkins. In its forty-two year history it has made many major contributions to economic and social research on Australia and contributed strongly to economic and social policy analysis and development. Under its current Director, Professor Peter Dawkins, its annual income has increased from just over $1m in 1996 to a budget of $9m in 2004.

Professor Peter Dawkins Head, Melbourne Institute of Applied Economic and Social Research

It now has a staff of about 35 as well as 15 Adjunct Fellows. It operates in three research areas: Labour Economics and Social Policy Applied Macroeconomics Applied Microeconomics including: – Industrial Economics – Economics of Health – Economics of Education As well as contributing strongly to the academic literature, the Melbourne Institute continues to expand and enhance its long-standing tradition of working closely with government, business and community groups. Major on-going clients and sponsors include The Commonwealth Department to Family and Community Services, Department of Employment and Workplace Relations, The Reserve Bank of Australia, Westpac, ING, TD Securities and IP Australia (through the Intellectual Property Research Institute of Australia – a joint Institute of the Faculty of Economics and Commerce, the Faculty of Law and the Melbourne business School). In addition the Institute conducts specific research projects for a range of clients from Commonwealth and State Governments and the private sector. The Melbourne Institute is the home of one of Australia’s leading academic journals in Economics, the Australian Economic Review, which has a strong policy focus and is of widespread interest beyond the academic community as well as inside academia. It also publishes the Mercer-Melbourne Institute Quarterly Bulletin of Economic Trends, a quarterly journal focusing on the Australian economy, and aimed at broad audiences. It publishes regular economic indicator reports such as the Westpac-Melbourne Institute Indexes of Economic Activity and the Westpac-Melbourne Institute Consumer Sentiment Index. The Institute is also the home of Australia’s major household longitudinal survey of Household Income and Labour Dynamics (HILDA), which is led by the Institute’s Deputy Director, Professor Mark Wooden, under a contract with the Commonwealth Department of Family and Community Services.

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Centres in the Faculty The Centre for Actuarial Studies The Centre offers students a professionally accredited actuarial program and is designated as a Centre of Excellence by the Institute of Actuaries of Australia. The Centre for Actuarial Studies is located in the Department of Economics within the Faculty of Economics and Commerce. The Director of the Centre is Professor David Dickson. Graduates who obtain marks above prescribed levels in certain subjects can receive exemptions from the Institute of Actuaries of Australia and/or the Institute/Faculty of Actuaries (UK). The Centre also offers distance education. Staff within the Centre are active researchers with actuarial interests ranging from the more theoretical to the practical. Staff interests necessarily span the full spectrum of expertise required for professional accreditation, but the Centre is internationally known for its research in the areas of ruin theory and financial mathematics. The Centre’s research is highly recognised on the international scene and adds strongly to the reputation of the Centre. The international links of the Centre are also evident with regular visits from leading academics and a number of students involved in exchange programs.

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The Centre maintains strong links with the actuarial profession and related areas within Australia. These links are highlighted by the presence of high profile actuaries on the Centre’s Advisory Board and the University of Melbourne Actuarial Foundation.

The Asian Economics Centre The Asian Economics Centre is located within the Department of Economics and serves as a forum for bringing together those with an interest in research on Asian economies and economic development issues. The Centre’s objectives are: – To initiate and develop research into Asian economies and Australia-Asia economic relations, and build collaborative links and partnerships with Australian and international research groups engaged in similar research – To foster and promote informed discussion on the economics of Asian countries within academia, business and industry, the government sector and the wider public – To encourage and provide advice on the teaching of subjects related to economics of Asian countries at the undergraduate, graduate and continuing education levels. The Director of the Centre is Associate Professor Sisira Jayasuriya.


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The Economic Theory Centre The key objectives of the Centre are to facilitate international affiliations and international research linkages, including for research training, and to be a focus for external research funding in economic theory. The Director of the Centre is Professor Peter Bardsley. The Centre has a distinguished international Advisory Board.

The Centre for Microeconometrics Located within the Department of Economics, the Centre for Microeconometrics is a focal point for research in microeconometrics. Its members, staff and PhD students drawn from the Department and the Melbourne Institute of Applied Economic and Social Research, are concerned with the development, evaluation and application of microeconometric methods. Branches of economics currently researched by the Centre include consumer expenditure analysis, environmental economics, labour economics, health economics, transport economics, measurement of inequality and poverty, and measurement of productivity and efficiency. Methodological research includes panel data methods and discrete choice modelling and estimation. The Centre hosts national and international visitors, holds regular workshops to discuss work in progress, and holds occasional conferences involving other researchers from within and outside Australia, including groups from industry and government departments. The Director of the Centre is Professor Bill Griffiths.

The Centre for Macroeconomics The Centre for Macroeconomics is a joint centre of the Department of Economics and the Melbourne Institute of Applied Economic and Social Research. The main objective of the Centre is to foster research, research training, and teaching in macroeconomics at the University of Melbourne. The Centre seeks to: – Facilitate international affiliations and international research linkages – Facilitate the training of research students – Be a focus for external research funding – Organise conferences and workshops – Encourage research-based policy advice. The Director of the Centre is Associate Professor Nilss Olekahns

The Australian Centre for International Business The Australian Centre for International Business began in 1998 as a collaborative venture between the University of Melbourne and the University of New South Wales. From 2003 the management of the Centre reverted to the University of Melbourne. The mission of the Centre is to conduct leading edge research in international business, educate future international business leaders and consult with business and government. The Centre is eclectic in its interdisciplinary areas, studying the international aspects of strategy and management, human resource management, industrial relations, corporate history, accounting, finance, information systems, organisational behaviour and marketing. Members of the Australian Centre for International Business have published over 20 books and 200 research papers, conference proceedings, chapters in books and consulting reports spanning all fields of international business research.

Centre for Global Innovation Management (Incorporating the Euro-Australian Cooperation Centre and the Australian CRC for Interaction Design) The Centre for Global Innovation Management is located in the Department of Management. The Centre is concerned with research on global innovation management and sustainable development. The Director of the Centre is Associate Professor Milé Terziovski. The Centre has an Advisory Board drawn from industry and has strong links with Australian government departments and the private sector. The Centre carries out research funded by the Australian Research Council (ARC) and the Department of Education Science and Training (DEST), and undertakes contract and joint project research with collaborators through the European Union research framework programme. The Centre has been successful in becoming a core partner in the Australian CRC for Interaction Design (ACID).

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Foundation for Sustainable Economic Development The Operations Management area also hosts the Foundation for Sustainable Economic Development. The Foundation was established in 2000 with a mission to create and disseminate research to increase the awareness and effectiveness of management practices that deliver better organisational performance and less wasteful products and processes. The Foundation has produced a number of research papers and commissioned reports. The Foundation published The Collaborative Games in 2001. In this book, author Tony Webb analysed the organisation of the Sydney Olympics, uncovering the collaboration and frameworks which ensured this massive project was a success.

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A significant new project has been on corporate sustainable development, funded by the Australian Business Foundation. This report will be released in March 2005

The Centre for Human Resource Management The Centre researches Human Resource Management and Employment Relations in the Asia-Pacific region, North America and Europe. In line with its international outlook, the Centre encourages collaborative research projects with leading overseas universities and arranges research of international scholars in the fields of human resource management and employment relations. The Centre also works with Australian businesses and government institutions on both collaborative and consultative projects and facilitates research opportunities with the professions, employers, trade unions and governments (including government departments). Research findings are disseminated through academic publications, working papers, seminars and conferences.

The International Centre for Research in Organizational Discourse, Strategy and Change The International Centre for Research in Organizational Discourse, Strategy and Change was launched in 2001 with the aim of establishing itself as a world leader in organizational discourse. The Centre is located in the Department of Management and headed in Melbourne by Professor Cynthia Hardy. From the original four institutional partners – the University of Melbourne, the University of Sydney (Department of Work and Organizational Studies), McGill University (Centre for Strategy Studies in Organizations) and King’s College, University of London (The Management Centre), the Centre has grown to include the Judge Institute at the University of Cambridge, Leicester University and the University of Lund and Texas A & M University. The Centre’s objectives are: – To establish a leading group of world class scholars in organizational discourse in order to facilitate research on organizational discourse, strategy and change – To encourage collaborative research projects among leading universities in the field of organizational discourse – To disseminate research findings on discourse analysis and its applications through academic publications, seminars and conferences – To facilitate research and teaching interchanges among scholars who work in this area – To increase opportunities for researchers interested in discourse analysis to interact through specific initiatives, such as workshops, conferences, etc – To facilitate collaborative links regarding research and postgraduate training in the field of organizational discourse.

Intellectual Property Research Institute of Australia The Intellectual Property Research Institute of Australia is a collaborative centre of the Faculty of Law, the Faculty of Economics and Commerce, and the Melbourne Business School. It has core funding from IP Australia. The Director of the Institute is Professor Andrew Christie, Faculty of Law and the Associate Director from the Faculty of Economics and Commerce is Dr Elizabeth Webster.


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Graduates of the Faculty

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Graduates of the Faculty over the last 79 years have been leaders in business, public policy and academia. Below is a list of current prominent alumni.

Business Ms Elizabeth Alexander, Partner, Price Waterhouse Mr Philip Brass, Chairman, Rothschild Australia Mr Tony Burgess, Head, Corporate Finance, Deutsche Bank AG Mr Terence Campbell, Executive Chairman, JB Were & Son Mr Ross Cameron, Director, AMCOR Mr Mark Chiba, CEO, UBS-Warburg, Japan Ms Penny Chong, Program Manager, Marketing Operations, IBM, Malaysia Mr Dick Chan Teik Huat, Managing Director, Metroplex Berhad, Malaysia Mr Esmond Choo, Executive Director, RHB-Cathay Securities, Singapore Mr Bill Conn, Company Director

Mr Alwyn Lim, Certified Public Accountant, Singapore Dato’ Jimmy T.C. Lim, CEO, AMCORP, Malaysia Mr Alistair Lucas, Chairman, Investment Banking, Macquarie Bank Mr Gary Morgan, Executive Chairman, Roy Morgan Research Mr Hugh Morgan AC, President, Business Council of Australia Khun Nukul Prachaubmoh, Chairman, First Asia Securities, Thailand Mr James Riady, Deputy Chairman, LIPPO, Indonesia Ms Nicola Scott, Manager, Financial Accounting, ANZ Mr Irving Rockman, Chairman, Regency Hotels

Mr Laurie Cox AO, Director, Macquarie Bank

Mr Irving Saulwick, Managing Partner, Irving Saulwick and Associates

Mr David Crawford, Company Director

Mr Peter Scanlon, Company Director

Ms Gloria Ewe Gim Goh, Partner, Arthur Anderson, Malaysia

Mr Asgari Stephens, Company Director, Malaysia

Mr Charles Goode AC, Chairman, ANZ Bank Ms Merran Kelsall, Director, BDO Nelson Parkhill Mr David Kingston, Executive Director, N.M. Rothschild

Ms Tan Lei Cheng, CEO, Tan & Tan Developments Berhad, Malaysia Mr Chris Thomas, Managing Partner Melbourne, Egon Zehnder Mr Brian Watson, CEO, Georgica Associates

Mr Ananda Krishnan, Company Director, Malaysia

Mr Eu Ming Yeow, Minolta Marketing, Malaysia

Mr Leon L’Huiller, Company Director

Mr Peter Yates, CEO, PBL

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Higher Education Professor Max Corden AC, University of Melbourne Mr Robert Champion de Crespigny AC, Chancellor, University of Adelaide Professor Jane Godfrey, Head, Department of Accounting and Finance, Monash University Professor Robert Gregory AO, Head, Division of Economics and Politics, RSSS, Australian National University Professor Geoff Harcourt AO, Cambridge University Professor Keith Houghton, Dean, Faculty of Economics and Commerce, ANU Professor Joe Isaac AO, Department of Management, University of Melbourne

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Public Service Mr John Brumby, Minister for Finance, Minister for State and Regional Development, and Minister for Innovation, Victorian Government

Professor Carrick Martin, Deputy Vice-Chancellor, Macquarie University Professor Fred McDougall, Executive Dean, Faculty of the Professions, University of Adelaide

Mr Michael Carmody, Australian Commissioner of Taxation

Professor Bill Norton, Director, Centre for Money, Banking and Finance, Macquarie University

Senator Rod Kemp, Minister for the Arts and Sport, Australian Government

Professor Stuart Leech, Department of Accounting, University of Melbourne

Ms Jenny Macklin, Deputy Leader of the Federal Labor Party and Shadow Minister for Employment, Education and Training

Professor Terry Shevlin, Professor of Accounting, University of Washington

Dato’ Mustapa Mohamed, Executive Director, National Economic Action Council of Malaysia Professor Susan Richardson, President, Academy of Social Sciences in Australia Dr Garry Sampson, Senior Advisor, World Trade Organisation, Geneva Professor Judith Sloan, Commissioner, Productivity Commission Khun Mechai Viravaidya, Chairman, Population and Community Development Association, Thailand Mr Ian Watson, Deputy President, Australian Industrial Relations Commission Dr Lynne Williams, Deputy Secretary, Victorian Department of Innovation, Industry and Regional Development Professor Ross Williams, Commonwealth Grants Commission

Professor Rae Weston, Professor of Management, Macquarie University Professor David Vines, Department of Economics, Oxford University Hon. David White, Council, University of Melbourne


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Commerce Alumni Society Report 2004 The purpose of the University of Melbourne Commerce Alumni Society (UMCAS) is to operate as a means for former Commerce students to keep in contact with each other, with the Faculty, and with the wider university community. UMCAS committee members are elected to office for up to three years, and work closely with the Faculty to develop these associations through mailouts, programs and events that are open to all Commerce alumni. A number of events were held over the last twelve months, and further functions are planned this year. A number of extremely successful events were held in Melbourne during 2004: – Speech given to alumni by Mary Wooldridge, CEO of the Foundation for Young Australians. Mary spoke about combining personal and community objectives with career success. The event was sponsored by KPMG – Dinner with guest speaker Hugh Morgan, president of the Business Council of Australia and former CEO of Western Mining Corporation, held in the University’s new Law School building – Reunion lunch in University House for alumni that graduated 45 years ago or more – Barbecue for final year Commerce students, introducing the alumni society to students about to leave the University – Speech given by the State Treasurer, John Brumby, to alumni and final year students on the vision for Victoria’s future. The event was sponsored by Deloitte.

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Information on developments in the Faculty and news of alumni events are included in the newsletter Alumni News which is mailed by the Faculty twice a year to all Commerce graduates who have elected to receive it. UMCAS also provides a $2000 scholarship each year to a final year Commerce student through the generous donations of alumni. Congratulations are given to Daniel Snyder, the 2004 scholarship recipient. If you would like to make a donation for the scholarship, find out more about UMCAS, or would like to contribute to or receive the Alumni News, please contact: Susan McPharlin, Executive Officer (Development) Faculty of Economics and Commerce University of Melbourne, Victoria, Australia, 3010 Tel : +61 3 8344 2167 or e-mail s.mcpharlin@unimelb.edu.au Various functions for alumni, friends and final year students are held throughout the year. Details appear on the www.ecom.unimelb.edu.au/ business/alumni.html web site, and in the Alumni News. Look out for upcoming events in 2005. Steven Zigomanis President UMCAS Pictured above from left to right: Frank Ford and Jan West, Deloitte, Professor Margaret Abernethy, The Hon John Brumby MP, State Treasurer, Steven Zigomanis and John Meehan.

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People in the Faculty Dean and Associate Deans Dean Professor Margaret Abernethy Deputy Dean Professor Garry Marchant (until September 2004) Professor Ian McDonald (from October 2004)

Associate Dean (Graduate Studies) Professor Robert Widing (until June 2004) Associate Professor Greg Whitwell (from July 2004) Associate Dean (International) Professor Nasser Spear (until June 2004) Associate Professor Bill Harley (from July 2004)

Associate Dean (Research) Professor Guay Lim Associate Dean (Undergraduate Studies) Associate Professor Christine Brown

Department of Accounting and Business Information Systems Head of Department and Professor of Accounting MARCHANT, GARRY: BCom UNSW, AM, PhD Mich Research Interests: Management control systems, strategic cost management, performance measurement, strategy implementation, organisational learning and management decision making. G.L. Wood Professor of Accounting SPEAR, NASSER: BEc (Acct) Syria, MS (Acct), PhD NTexas, FCPA, CMA Research Interests: Capital markets-based research, international financial reporting, contracting research, initial public offerings, security valuation, accounting for extractive industries.

> Professor of Accounting and Business Information Systems FERGUSON, COLIN: BBus Swin, DipEd SCV, MEc NE, GradDipComp Deakin, ACA, FCPA, AAIM, MACS Research Interests: Business information systems, business forensics, economics of auditing and auditor behaviour. Professor of Accounting and Business Information Systems LEECH, STEWART: BCom, MEc Tas, FCA, FCPA, MACS, PCP Research Interests: Accounting information systems, decision making in corporate recovery, intelligent decision aids, enterprise resource planning systems. Associate Professors COLLIER, PHILIP: BSc (Hons) Hull, MSc Essex Research Interests: Intelligent decision support, case-based learning, assimilation of information systems, corporate recovery, automative industry.


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DAVERN, MICHAEL: BCom (Hons) Tas, PhD Minnesota Research Interests: Information valuation and use, decision technologies, revenue yield management, behaviour in information environments. LILLIS, ANNE: MCom, PhD Research Interests: Performance management in complex settings including health care networks and flexible manufacturing firms, performance impact of corporate downsizing. SCHULZ, AXEL: BCom (Hons), MCom, PhD UNSW Research Interests: Management accounting, behavioural accounting. Senior Lecturers COBBIN, PHILLIP: BBus RMIT, MCom (Hons), BEd, MEd, DipEd SCV Research Interests: Market for audit services, history of accounting and audit, accounting education history. CORAM, PAUL: BEc(Acc) Flin, GradDipEd Adel, MAcc WAust, CA Research Interests: Audit quality, behavioural research in assurance and financial accounting, accounting education. DILNUTT, ROD: BA, DipEd LaTrobe, PGradDip (CompSci) Monash, MBA Deakin, DBA Southern Cross PINNUCK, MATTHEW: BCom (Hons), PhD Research Interests: Financial accounting, behaviour of fund managers. POTTER, BRAD: BCom (Hons), PhD Deakin, CPA Research Interests: Contracting research, accounting for public sector entities, international financial reporting, the development of financial reporting regulation. SMITH, DAVID: BCom (Hons) LaTrobe, PhD Monash Research Interests: Management accounting, behavioural accounting. WISE, TREVOR: MCom Auck, PhD, CPA ACA NZ, CMA NZ Research Interests: Accounting theory, financial accounting.

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Lecturers GRAFTON, JENNIFER: BCom (Hons), PhD Research Interests: Management control system design and use in the not-for- profit sector, the design and control of interorganisational networks, performance management and research methods. HALL, MATTHEW: BAcct (Hons), GradCertHighEd Monash Research Interests: Behavioural effects of performance measurement, professional commitment of accountants, approaches to learning of accounting students. HO, SUSANNA: BEng Hong Kong, MPhil (CS) Hong Kong, PhD (IS), HKUST Research Interests: Technology adoption, electronic commerce and personalisation technology. HRONSKY, JANE: BBus, MCom (Hons), PGDipBus Curtin Research Interests: Audit judgement, communication issues in financial and audit reporting. LEE, MICHAEL: BEc (Hons), MCom (Hons) Monash, GradDipAppFin&Invest SIA, FSIA Research Interests: Enterprise resource planning systems, performance management design, business case evaluations, project management implementation. LEE, RICHARD: BEc Monash, DipEd SCV Research Interests: Financial reporting, accounting policy choice, executive compensation, accounting education. PARKES, ALISON: BCom Wollongong, MBS (Hons) Massey Research Interests: Decision support, reliance measurement. TAYLOR, SARAH: BCom (Hons) Syd Research Interests: IPOs, voluntary disclosure, analysts’ forecasts, audit quality and non-audit services. THOMSON, GENEVIEVE: BA, BBus Bendigo, MBA Deakin, PhD, CPA Research Interests: Strategy and design of management control systems, performance measurement in knowledge creation firms.

WILKIN, CARLA: BCom (Hons), PhD Deakin, MACS, MACM Research Interests: Stakeholder perceptions re: IS effectiveness, measuring benefits in e-Commerce, system development methodologies. Teaching Scholars BOYS, NOEL: BBus RMIT, GradDipEd HawInst, GradDipEd LINGGO LIONG, JOANA: BCom Senior Tutors DOWLING, CARLIN: BCom (Hons) Tas Research Interests: The effect of organisational factors on decision-aid use; the impact of information technologies on organisational and individual behaviour, accounting education. STAMATELATOS, ANNA: BSc, DipEd, BEc, BBusAcc (Hons) Monash, CMA, CPA Research Interests: Management accounting, financial accounting capital markets, accounting education. Tutor LEAHY, ALISON: BCom Research Interests: Management Accounting, Strategy and Performance Measurement, Managerial Decision Making Professors Emeritus NICOL, ROBERT: BEc Syd, MBA, PhD California, FCPA WRIGHT, KENNETH: BMetE, DCom, FASA, FASSA, FAIM Professorial Fellows EASTON, PETEr: BAgSc, BEc Adel, DTTech Torrens, DFinMgmt New England, PhD California Research Interests: Financial statement analysis and equity security valuation and the estimation of the expected rate of return on equity investments. FRANCIS, JERE: BSc Drake, MSc Minnesota, PhD, DEcon New England Research Interests: Economics of auditing, the effect of auditing on the quality of financial reporting, corporate governance, international accounting.

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SUTTON, STEVE: BSA, MA, PhD Missouri Research Interests: Accounting information systems and assurance, impact of KBS on individual decision making and on user knowledge acquisition/ learning, IS assurance, business risk in B2B e-Commerce relationships, risk analysis in supply chains.

PEDLEY, SARAH: BA (Hons), DipItal (Teaching) Perugia Position: Administrative Officer

Principal Fellows ARNOLD, VICKY: BA, MBA, PhD Arkansas Research Interests: Individual decision making; accounting information systems; use of decision aids; expert systems and KBS on decision making; assurance services.

WONG, BILLY: BInfoTech, MinfoSys CQU Position: Systems Support Officer

ANDERSON, SHANNON: BSE (Civil Engin) Princeton, PhD Bus Eco Harvard Research Interests: BURROWS, GEOFFREY: MCom, DipEd, FCPA Senior Fellows ALFREDSON, KEITH: BCom Qld BOUWENS, JAN: MFin, PhD Tilburg Research Interests: Performance measurement systems. Fellows LESLIE, STEWART: BCom, FCA Administrative Staff ANDERSON, SHERRYL (from September 2004): MBA Deakin, MCom Deakin Position: Department Manager BERNARDE, RENATA: BCom Position: Research Administrative Officer CROSER, REBECCA: BDes South Aust, GradDipArts Position: Administrative Assistant KOVACEVIC, NATASHA: BBus RMIT Position: Budget & Resources Officer MCNAMARA, KERRY Position: Administrative Assistant

RUSSELL, PATRICIA: BA, Di Ed Position: Department Manager (to September 2004) VASSILEV, SPASSIMIR: BSc Bulgaria, GradDipCompSci VUT Position: Systems Support Officer

Department of Finance Head of Department and Professor of Finance BROWN, ROB: MEc Syd, FCPA, FAIBF Research Interests: Interest rate swaps, management and regulation of financial intermediaries. Deputy Head of Department and Professor of Finance KOFMAN, PAUL: MEc, PhD Erasmus Research Interests: Price discovery in regulated financial markets; Extreme value analysis and financial applications; Insurance rate making. Commonwealth Bank Group Professor of Finance DAVIS, KEVIN: BEc (Hons) Flin, MEc ANU, FAIBF, FFTP Research Interests: Financial institutions management; Treasury management; Financial engineering; Corporate financial policy; Financial markets. Professor of Finance WHEATLEY, SIMON: MA (Hons) Aberdeen, MA SFraser, PhD Rochester Research Interests: Investments; International finance. Associate Professors BROWN, CHRISTINE: MSc, DipEd, PhD Research Interests: Pricing of derivative securities and the efficiency of the markets in which they trade; Valuation of real options; Modelling credit risk; Financial institutions management; Capital budgeting; Pricing innovations in financial markets; Share buybacks; Bank regulation and implementation of Basel 2.

SAWYER, KIM: BSc UWA, MEc, PhD ANU Research Interests: Finance theory, quantitative finance. SCHWANN, GREG: BA (Hons) Queens, MA (Ec), PhD UBC Research Interests: Real Real Estate Finance; Real Estate Economics; Real Estate Backed Derivatives. Senior Lecturers HANDLEY, JOHN: BCom, BMath Newc, MCom (Hons), PhD, ASIA Research Interests: Corporate finance; security design; cost of capital; corporate valuation. LAMBA, ASJEET: BA (Hons) Delhi, MBA Mich, PhD Wash, CFA Research Interests: Liquidity and efficiency of equity markets; Linkages among equity markets; Valuation implications of corporate events. OTCHERE, ISAAC: BScAdmin Ghana, MA, MMS Carleton, ICA Ghana, PhD Tas Research Interests: Corporate payout policies; Mergers and acquisitions; Privatisation and initial public offerings; Index composition changes. PINDER, SEAN: BCom (Hons) Monash, PhD Newc, AAIBF (Snr) Research Interests: Issues relating to the valuation of derivative securities and the analysis of corporate financial decision-making. Lecturers BROWN, RAYNA: BA Macq, MCom (Hons), PhD, AAIBF (Snr) Research Interests: Management of financial intermediaries; Regulation; Measurement of efficiency. BUCHANAN, BONNIE: BSc (Hons) UNSW, MAppSc RMIT, PhD Georgia Research Interests: Corporate Governance; Financial Fraud; Law and Economics. CHANG, XIN: BA Tsinghua, MPhil PBOC, PhD HKUST Research Interests: Corporate finance, investment.


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COLEMAN, LES: BEng (Hons), BSc (Econ – Hons) London, MEc Syd, PhD, CFTP (Snr) Research Interests: Risk strategy; behavioural finance; wagering markets; expertise; applied corporate finance; agricultural and resources finance; corporate crises; and practical applications of academic research. GYGAX, ANDRE: lic oec HSG St. Gallen, MSc, MBA Colorado, PhD Research Interests: Industrial organisation, entrepreneurial finance, decision analysis. HUI, SANDRA: BCom ANU, MFin RMIT, CPA Research Interests: Credit risk modelling and valuation; Interest rate modelling and financial mathematics. MAHESWARAN, KRISHNAN: BEc (Hons) LaTrobe, MCom (Hons) Research Interests: Asset pricing and consumption, term structure of interest rates. O’CONNOR, IAN: BBus Chisholm, MBus RMIT, PhD, CPA, AAIBF (Snr) Research lnterests: Bank efficiency; Derivative securities; Volatility forecasting. SCOTT, CALLUM: BSc (Hons) Edin, BA Open, GradDipEd Dundee, GradDipCInfSc, MSc VUT, PhD, AFPA Academic Research Interests: The application of artificial neural networks in modelling financial markets.

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ZENG, QI: BS SJTU, MS Academia Sinica, MS UIC, PhD Penn Research Interests: Asset pricing. Tutors HAQUE, TARIQ: BSc, BCom (Hons) Research Interests: Investments; Corporate finance. PANCHAL, KUNAL: BCom (Hons) Research Interests: Mergers and acquisitions. Senior Fellows COCKS, GRAHAM: MEc Syd, MStat Flor, MSc Brad INGWERSEN, MICHAEL: BEc Monash, MBA Fellow ROBINSON, DAVID: BAdmin(Ec) (Hons) Griffith ERREY, ROBERT: BBus SAIT, Grad Dip Stats Canberra CAE, MBA UWA, MCom Research Interests: Financial aspects of marketing management. Visiting Academics BONSER-NEAL, CATHERINE: BA Indiana, PhD Chic Research Interests: International finance. KESTER, GEORGE: BBA Wake Forest, MBA UNC, DBA Darden Research Interests: Managerial finance.

NANDHA, MOHAN SINGH: MCom Research Interests: Initial public offerings; emerging markets, exdividend price behaviour; financial mathematics and financial time series. NEAL, ROBERT: BGS Mich, PhD Chic Research Interests: Risk Management, derivatives, investment management, market microstructure. STAPLETON, RICHARD: BA (Hons) Shef, BMath Open, PhD Shef Research Interests: Interest rate models and the pricing of interest rate derivatives, portfolio theory given background risk, option pricing theory and techniques. SUBRAHMANYAM, MARTI: BoT IIT, PGDBA IIM, PhD MIT Research Interests: Corporate finance, market microstructure, derivatives. Administrative Staff BARBEROGLOU, SILVIA Position: Academic Liaison Officer CAREY, ROBIN: BSc (Econ), MA (Econ) Calif Position: Executive Assistant & Financial Services Officer DALVEAN, JO: BAppSc Monash Position: IT Manager DIXON, HELEN Position: Student Services Officer

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KREITNER, JASON: BA NMSU, MPA, JD USD Position: Department Manager (November –) MOIR, WENDY: BAppSc (InfoTech) (Hons) CSturt Position: IT Support and Web Developer MURRAY, ANNMAREE: BAppSci (PhysEd) VUT Position: Academic Liaison Officer SARKIES, ALLISON: BEc Monash Position: Department Manager (January – September) VELLA, JULIEANNE: Position: Administrative Assistant

Department of Economics Head of Department and Professor of Economics BORLAND, JEFF: MA, PhD Yale, FASSA Research interest: Operation of labour markets in Australia, theories of labour markets activity, economics of sport. Professors of Economics BARDSLEY, PETER: BSc (Hons) ANU, PhD Durh Research Interests: Economic theory, mathematical economics, game theory, information and strategic behaviour, organisational design and theory of the firm, theoretical finance.

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FREEBAIRN, JOHN: MAgrEcon NE, PhD Davis, FASSA Research Interests: Taxation reform, labour economics, especially employment, infrastructure pricing and investment. KING, STEPHEN: BEc (Hons) ANU, MEc Monash, AM, PhD Harv Research Interests; Regulation and competition policy, privatisation, industrial organisation, microeconomic theory.

MARTIN, VANCE: BEc (Hons), MEc, PhD Monash Research Interests: Econometrics, time series analysis, monetary economics, macroeconomics. Readers/Associate Professors CAMERON, LISA: BCom (Hons), MCom (Hons), PhD Prin Research Interests: Development economics, Asian economics, applied econometrics, experimental economics.

McDONALD, IAN: BA (Hons) Leic, MA Warw, PhD SFraser, FASSA Research Interests: Macroeconomics, labour economics.

DIXON, ROBERT: BEc (Hons) Monash, PhD Kent Research Interests: Macroeconomics, industrial economics, Marxian economics, regional economics.

TOURKY, RABEE: BEc (Hons), PhD Qld Research Interests: Economic theory, general equilibrium theory, economic behaviour under uncertainty.

HIRSCHBERG, JOSEPH: MA Calif, PhD, SCalif Research Interests: Electricity demand/rates, labour discrimination, demand analysis, cluster analysis.

Truby Williams Professor of Economics CREEDY, JOHN: BSc Brist, BPhil Oxford, FASSA Research Interests: Income distribution, public economics, labour economics, history of economic analysis.

JAYASURIYA, SISIRA: BEc (Hons) Ceylon, MEc, PhD ANU Research Interests: Macroeconomics, agricultural economics, development economics, international trade and capital, and international political economy.

Professors of Econometrics GRIFFITHS, WILLIAM: BAgEc (Hons) UNE, PhD Illinois, FASSA Research Interests: Markov chain monte carlo techniques, imposing inequality constraints in systems of equations, finite sample inference for nonlinear functions of parameters, and model selection.

LIM, GUAY: MEc Adel, PhD ANU Research Interests: Modelling the behaviour of exchange rates, risk and volatility, estimating option pricing models, financial econometrics, international monetary economics.


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LYE, JEANETTE: MA, PhD Cant Research Interests: Non normal distributions, applications of multimodality, modelling of exchange rates, theory and application of non linear models, general applied econometrics.

GANGADHARAN, LATA: BA Hindu College, MA Delhi School of Eco, PhD SCalif Research Interests: Environmental economics, experimental economics, applied econometrics, applied microeconomics.

MacLAREN, DONALD: BSc(Agr) (Hons) Aberd, MS, PhD Cornell Research Interests: Agricultural trade policy, agriculture and the World Trade Organisation, the I-O structure of international commodity markets.

HARDING, DON: MEc ANU, PhD Yale Research Interests: Macroeconomics.

MAGEE, GARY: BA Monash, BEc (Hons) LaTrobe, D Phil Oxford Research Interests: Economic history, industrial economics, the determinants and nature of entrepreneurship and innovation, economics of technological change, international economics. NORMAN, NEVILLE: BCom (Hons) MA, PhD Camb Research Interests: Industrial pricing as influenced by tariffs, exchange rates and world price movements; health economics; trade practices economic issues and the economics of e-commerce.

HARRIS, DAVID: MEc James Cook, PhD Monash Research Interests: Time series analysis. HENRY, OLAN: BA (Hons) Dub, MA, PhD Reading Research Interests: Econometric modelling and forecasting of asset market volatility, term structure modelling, the inflation hedging characteristics of property and property serviced in the U.K.. HILLBERRY, RUSSELL: BS Minnesota, PhD Indiana Research Interests: Economic Geography, International Trade.

OLEKALNS, NILSS: BEc (Hons) Adel, MEc ANU, MA WOnt, PhD LaTrobe Research Interests: Macroeconomics, applied econometrics.

SHIELDS, KALVINDER: BA (Hons), MA Reading, PhD Leicester Research Interests: Econometric modelling of the dynamics of emerging Eastern European financial markets, survey-based expectations in macroeconomic models forecasting, sectorial disaggregation data in applied macroeconomics.

Senior Lecturers AMITI, MARY: BEc (Hons) LaTrobe, MSc LSE, PhD LSE Research Interests: International trade – theory and empirical, new economic geography – trade policy and industrial location.

SHIELDS, MICHAEL: BA (Hons) Staffordshire, MSc Health Uni of NY, PhD Leicester Research Interests: Economics of immigration, economics of labour market discrimination, labour market for medical professions.

DE FONTENAY, CATHERINE: BA (Hons) McGill, PhD Stanford Research Interests: Development Economics, Industrial Organisation, Theoretical and Empirical Bargaining Theory.

SKEELS, CHRISTOPHER: BEc (Hons), PhD Monash Research Interests: Econometric theory.

FARRELL, LISA: PhD Keele Research Interests: Microeconometrics, lotteries and gambling, child expenditure patterns, risk and uncertainty.

SMITH, RHONDA: BCom (Hons), MA (Hons) Research Interests: Economics of trade practices, economic policy towards industry. STEMP, PETER: BA (Hons), PhD ANU Research Interests: Macroeconomics, monetary economics, economic policy issues, financial economics.

WILLIAMS, JENNY: BEc ANU, MEc PhD Rice Research Interests: Microeconometrics, Health economics. Lecturers and Research Staff BASOV, SUREN: MA New Economic School (Moscow), Dip Eng (Physics), PhD Boston Research Interests: Economic theory, mathematical economics, contract theory, industrial organisation, labor economics. CHANG, HSIAO-CHUAN: BA National Chengchi, MSc Iowa, PhD ANU Research Interests: Trade, productivity growth and wage dispersion in general equilibrium in a small open economy. CHOU, YUAN: AB William and Mary, MA, MPhil, PhD Yale Research Interests: Macroeconomics, development economics, labour economics. CLARKE, ANDREW: BA MEc Syd, PhD McMaster Research Interests: Labour economics, Macroeconomics, Econometrics. EDMOND, CHRIS: BA BEc Qld, MA CPhil UCLA Research Interests: Macroeconomics, Monetary Economics, Asset Pricing. ERKAL, NISVAN: MA Macalester College, MA PhD Maryland Research Interests: Industrial organisation, Microeconomic theory. RAIMONDO, ROBERTO: Laurea Milan, PhD Mathematics State University of New York, PhD Berkeley Research Interests: Economic theory, Financial economics. STACHURSKI, JOHN: MA Tokyo, BA PhD Research Interests: Stochastic dynamics (stability, estimation, optimisation Development and growth; Statistical learning theory. UREN, LAWRENCE: BEc (Hons) ANU Research Interests: Macroeconomics, Labour Economics. Professorial Fellow CORDEN, WARNER MAX: BEc, PhD LSE FASSA

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GANS, JOSHUA: BEc Qld, PhD Stanford Principal Fellow DOWLING, JOHN MALCOLM: BA MA PhD Pittsburgh IRONMONGER, DUNCAN: MCom PhD Camb JENNINGS, VICTOR: BEng, OBE NIEUWENHUYSEN, JOHN: MA Natal, PhD London, FASSA Senior Fellow CHOE, HYUNCHA: BS MS Seoul, PhD Purdue HAQUE, OHIDUL: BSc MSc Rajshahi, PhD Sydney MOORE, TIM: Turning Point Drug and Alcohol Centre

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WAECHTER, TREVOR: BEc (Hons) MSc Adelaide, PhD Cantab WHEATLEY PRICE: BSc MA PhD Leicester WILLIAMS, LYNNE: BA MA MSc LSE, PhD Monash Fellow HARPER, MARGORIE: MA

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CAZALY, CIANNON: BA Position: General Front Office Support and Actuarial Studies Distance Education Administrator GOULETSAS, PERSEFONI Position: Coordinator Administrative Support Services HADDAD, LEONIE: AdvDipBus Position: Financial and HR Operational Support KHAN, NAHID: MCom, MSocSci (Econ) University of Dhaka, BSocSci (Hon Ec) University of Dhaka Position: Tutor Coordinator and Undergraduate Support Officer LEONG, COLEMANN: CBE&ACE RMIT, PGradDipCompSci Swin Position: Web and System Support Officer LO, VICTOR: BEng (Geomatics) UNSW, Grad Dip (IT) Swin Position: Web Development Officer LOCHRAN, MARGARET Position: Department Web Page Administrative Support LOMBARDO, ROSEMARY Position: Front Office Supervisor

JAFFER, SUE: BSc MA

MORRIS, NICK: MA (Hons) MPhil Oxford

MACKINNON, LESLEY: RN, RM NNPC, DipSocSci (Welfare), Bachelor Health Sciences (Nursing Post Registration) Position: Administrative Support Officer, Distance Education

PORTER, MICHAEL: BEc (Hons) Adelaide, PhD Stanford

MCARROLL, NATASHA Position: Administrative Officer

MORRIS, GAYLE: Med Glasgow PhD

SHIVELY, GERALD: BA MA Boston PhD Wisconsin-Madison TERRILL, DANIEL: BA PhD Professor Emeritus LLOYD, PETER: MA Vic NZ, PhD Duke, FASSA

MILLERICK, CHERIE: BA Syd Position: Department Manager

PERKINS, JAMES: MA, PhD Camb, MCom FASSA

NEWELL, COLIN: BA Deakin Position: Administrative Assistant to the Head of Department

Administrative Staff BANFORD, ALISON Position: Manager, Academic Support Services

PHILIP, PREETA: MBA Spicer Position: Manager, Administrative Services

DANG, BAO: BAcc, BComp Monash Position: Manager, System Support

SCHERER, HEIDI: ADip Bus Holmesglen Position: Academic Support Services

VANCUYLENBERG, ANUTHEIA SANJEEVA: DipTech (Computing) Holmesglen TAFE Position: Web & Systems Support Officer

Centre for Actuarial Studies Director of the Centre DICKSON, DAVID: BSc (Hons), PhD Heriot-Watt, FFA FIAA Research Interests: Aggregate claims distributions, renewal risk processes, recursive methods in risk theory. Professor of Actuarial Studies DUFRESNE, DANIEL: BSc (Hons) Montreal, PhD The City Uni London, FSA Research Interests: Financial mathematics, Actuarial science and probability. Senior Lecturer FITZHERBERT, RICHARD: BSc (Hons) Syd, FIAA, FIA, ASIA Research Interests: Stochastic investment models, investments. Lecturers LI, SHUANMING: BSc Tianjin MEc Renmin, PhD Concordia Research Interests: Risk and ruin theory, Stochastic modelling in insurance and finance, Actuarial science. LIM, HYE-SUN: BSci Seoul NU, BCom (Hons) AIAA Research Interests: Risk theory, option pricing. MCELLIN, EDWARD: BA, MA Arizona, ASA, MAAA Research Interests: Healthcare plan design and cost analysis, asset/liability management techniques, long term care cost analysis, credibility theory. Honorary Senior Fellows GRIBBLE, JULES: BSc (Hons), PhD St Andrews, FIAA, FCIA, FSA HARSLETT, GRANT: BSc (Hons) Adelaide, FIA, FIAA, ASA TRUSLOVE, ALLEN: BSc (Hons), PhD Monash, MBA Deakin, FIAA, FIA


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Department of Management Professor and Head of Department SAMSON, DANNY: BE (Chem) UNSW, PhD AGSM, UNSW Research Interests: Business Competitiveness Drivers; Operations Strategy; Risk Management; Sustainable Development; E Business; Decision Making under Uncertainty. Professors HARDY, CYNTHIA: BSc (MgtSc), PhD Warwick Research Interests: Organisation theory; Strategy power and politics in organisation; Strategic change; Interorganisational collaboration; Organisational discourse theory. KULIK, CAROL: PhD Illinois Research Interests: HR management; Workforce diversity; fairness in organisations. MERRETT, DAVID: BEc (Hons) MEc Monash Research Interests: Internationalisation of Australian firms; Evolution of ‘big business’ in Australia; Headquarter-subsidiary relations in multinationals; Principal-agent issues within firms. WIDING, ROB: BA MBA PhD Ohio State Research Interests: Market orientated organisations; control systems for market orientated organisations; computer assisted product search.

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Associate Professor and Reader BENSON, JOHN: BEc MEd Monash, MA PhD Research Interests: HRM HRM/employment relations in Japan and China; Japanese management; Trade unions; Enterprise restructuring and outsourcing; Employee commitment; Knowledge workers.

LUKAS, BRYAN: MBA Nebraska, PhD Memphis Research Interests: Strategic Marketing (brand strategy & product innovation strategy); Brand Valuation; Marketing-Finance Interface; International Marketing.

Associate Professors DICK, HOWARD: BEc (Hons) Monash, MEc PhD ANU Research Interests: Asian business, corruption and governance; institutional development; global logistics; urbanisation in the Asia-pacific; Maritime history and policy; Country expertise: Indonesia; Southeast Asia, Japan.

SEWELL, GRAHAM: BSc (Hons) PhD Wales Research Interests: Workplace surveillance; Teamwork; Business ethics; Recent developments in organisation & management theory; Qualitative research methods; Evolutionary psychology; Sociology of work and organisations.

HARLEY, WILLIAM: BA (Hons), PhD Qld Research Interests: Industrial relations; HRM; work organisation; high performance work systems; teamwork; precarious employment; trade unions. HARZING, ANNE-WIL: BA Hogeschool Enschede, MA Maastricht, PhD Bradford Research Interests: HQ-subsidiary relations; International HRM; Cross-cultural management; The role of language in international business; The impact of culture on student learning styles.

TERZIOVSKI, MILE: BE (Hons), ME (Hons) W’gong, MBA (RMIT), PhD Research Interests: Operation management; Quality management; Value of ISO 9000 and ISO 14000 certification; Continuous improvement and innovation management; e-Commerce – Euro-Australian collaboration in SMEs; Organisational performance; International best practice; Reengineering.

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WHITWELL, GREGORY: BEc Monash, PhD Research Interests: Environmental uncertainty; The marketing/finance interface; The role of real options thinking in marketing strategy; Marketing’s contribution to business strategy and the role of intangible marketing assets; International marketing, especially exporting; Understanding customer needs through techniques such as ZMET; Social capital and its relevance to marketing activities; Electronic marketing. Senior Lecturers BROWN, MICHELLE: BCom (Hons) MA PhD Wisconsin Research Interests: Human Resource Management/Industrial Relations; Pay systems – performance based pay and its implications for employees, unions and organisations; Employee participation and its consequences.

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KRAIMER, MARIA: PhD Illinois Research Interests: Managing Expatriate Employees, Career issues, and the employeeEmployer relationships. Teaching interests include human resource management, compensation, and international management. MOOSA, SHARAFALI: BSc MSc Madras, PhD NUS & Madras Research Interests: Supply Chain Management, Reverse Logistics, Warehousing Queues, Inventory and Reliability MORGAN, STEPHEN: BA Monash, MA HK, PhD ANU Research Interests: Foreign direct investment and international business; Business, economic and social history of China; 19th and 20th centuries; The history of management and organisation in China in the 20th century; Anthropometric history of China and Taiwan (stature, health and nutrition).

CREGAN, CHRISTINA: BA Leeds, DipEd Oxford, MSc PhD LSE Research Interests: Trade union membership; young people in the labour market; internal labour markets; industrial democracy.

POWER, DAMIEN: BBus MBus, PhD Monash, CFPIM Research Interests: Business to business E-Commerce; Supply chain systems/ Virtual integration; Business process redesign; Operations strategy.

JOHNSTON, STEWART: BA Well, MSc Lond, PhD Research Interests: All aspects of management in multinational corporations – strategy, structure, control, innovation, HQ-subsidiary relations; Japanese management and Japanese business groups.

SARGENT, LEISA: BA, MOrgPsych Qld, PhD Toronto Research Interests: The effects of job changes on identity and career related outcomes; Stress and stress management strategies; Team interventions and team effectiveness.

SELSKY, JOHN: BS, MSc PhD Wharton Research Interests: Social dynamics in and around seaports; collaborative strategy; high-velocity organisational environments; natural-environment management and policy; non-profit sector strategy.. WATERS, LEA: BA (Hons), PhD Deakin Research Interests: The psychological consequences of unemployment & retrenchment; Training and development programs for unemployed people; Occupational Stress; Work-family conflict; Mentoring. ZALAN, TATIANA: BEd (Hons) Moscow, MBA Adelaide, PhD South Australia Research Interests: Failure of firms in international markets; International diversification and firm performance; International competitiveness of firms from smaller economies; Knowledge management in multinational firms. ZHU, YING: BEc Peking, PhD Research Interests: HRM; international HRM; international business management; economic development in Asia (China, Japan, South Korea, Taiwan and Vietnam); political economy of globalisation.


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Lecturers AUH, SEIGYOUNG: MBA Michigan, PhD Michigan Research Interests: Application of resource-based view to marketing strategy; organisational learning and capability; top management team diversity and marketing strategy; customer orientation (Customer satisfaction) and loyalty; mental accounting and consumer decision-making; services and relationship marketing. BARSKY, ADAM: BA (Psychology & Sociology) Wisconsin-Madison, Masters in I/O Psychology, Tulane, PhD Tulane Research Interests: Social Issues in Management, Business Ethics, Workplace Fairness, Discrimination, Job related effects and Work Stress, Personality and well being, Research Methodology and Statistics. BOVE, LILIANA: BAgSc (First Class Honours) La Trobe, BBus (Marketing) RMIT, PhD Monash Research Interests: Services marketing; Relationship marketing; Customer loyalty; Customer citizenship behaviour. BRATTON, VIRGINIA: BA Moorhead, MA PhD Florida Research Interests: Impression management; Business ethics; Organisational identity and politics. CHMIELEWSKI, DANIELLE: BA/BCom (Hons), PhD Candidate Research Interests: Strategic marketing; Strategic management; Timing of entry; Brand introduction strategy; Resource-Based view and capabilities; Strategic orientation. DAVIES, JENNIFER: BBus Mgt (Hons), PhD Pending Qld Research Interests: Interorganisational relationship, strategic networks, rivalry, strategic groups, knowledge and innovation. HANNA, VICTORIA: BEng (Hons) Sheff, PhD Lboro Research Interests: Small firm innovation, Operations management – applications in health care.

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MAGUIRE, CATHERINE: BCom (Hons), PhD Candidate Research Interests: Strategic human resource management; high performance work systems; managing intellectual capital; strategic and operational outcomes, alternative work arrangements; flexible and knowledge-based work; information technology; networked organisations: collaborative ties across geographic boundaries; communication; organisational justice and trust; collaboration and performance for young high-tech organisations; absenteeism and turnover. MERLO, OMAR: BA, BCom (Hons), PhD Candidate Research Interests: Strategic Marketing; Marketing Theory; Strategic management; Marketing’s role and influence within the firm; Organisational power and politics; E-Commerce; Others, including labour law and economic history. METZ, ISABEL: BSc South Africa, MBA, PhD Monash Research Interests: Gender, managerial advancement in male dominated versus non-male dominated industries, workplace diversity, work and family, internal labour markets, well-being and work-related stress, organisational culture and performance, human resource management. OSEGOWITSCH, THOMAS: AssocDegree Mech&AutoEng Austria, BCom (Hons) Austria, MCom PhD UWA Research Interests: Mulitinational Corporations strategy, HQsubsidiary relations and organisational boundaries. PALADINO, ANGELA: BCom (Hons), PhD Research Interests: Resource Based View; Capabilities Strategies; Market Orientation; Strategic Management; Strategic Marketing; Consumer Behaviour; Environmental Marketing. SAMMARTINO ANDRE: BCom (Hons), PhD Research Interests: Business strategy, Diversity management in a strategic context, Personnel economics, Quantitative aspects of HRM, Internal labour markets, Australian economic history.

SINGH, PRAKASH: BE (Hons), BBus Qld, PhD Research Interests: Strategic operations management; Quality improvement methods; Supply chain analysis; Innovation management; Project planning and implementation. YUKONGDI, VIMOLWAN: BBA (Magna Cum Laude) Assumption, Thailand, MBA Pitt, PhD Research Interests: HRM; Employee participation; Electronic business and HR practices; Crosscultural management. Professorial Fellow ISAAC, JOSEPH AO: Hon DEcon Monash, BA BCom HonDCom, FASSA, PhD Lond Research Interests: Labour market institutions; Industrial relations; Wages policy; Small business. Administrative Staff BISHOP, LIZA: BBus Mgt Pending RMIT Position: Executive Assistant GOULETSAS, PERSEFONI: BBusAdmin RMIT Position: Finance and Resources Officer HEDDLE, NICOLE: AdvDip (Photography) Chch Position: Front Office Administrator KENTON, SUSAN: BA DipEd BEd LaTrobe Position: Postgraduate Coordinator KREITNER, JASON: BA New Mexico State, MPA, JD SDakota Position: Administrative Services Manager LEVIN, ANNEMARIE Position: Front Office Administrator NOWAK, CATHERINE Position: Front Office Administrator NUGENT, EMILY: BA Positon: Front Office Administrator PALMER, KIRSTI: BA, BMus Position: Undergraduate Coordinator PHAN, VAN: BSc VUT Position: Software Developer SHEPHERD, ALISTAIR: BA (Hons) MA Position: External Relations Coordinator

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SHORT, WENDY: AssDipApSci (Sci Lab) Swin, GradDipEdAdmin HIE, MEdAdmin UNE Positon: Department Manager TELFER, ELIZABETH Position: Finance and Resources Officer THORNTON, TIM: BSc (Hons) MA EMBA Position: Department Manager TRUONG, LINH: BSc BEng Security Analyst, CIW Position: System Administrator VAN PHAM, MAGGIE: BBusComp VUT Position: Information Systems Manager

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Melbourne Institute of Applied Economic and Social Research Academic Staff Director and Ronald Henderson Professor DAWKINS, PETER: BSc Lough MSc(Ec) Lond PhD Lough FASSA FIPA Vic Research interests: Labour market, working time and wages, tax and welfare system, enterprise dynamics and firm performance, government policy and social outcomes. Deputy Director and Director – HILDA Survey WOODEN, MARK: BEc (Hons) Flin, MSc Lond Research interests: Labour economics, industrial relations and survey methodology. Director, Applied Macroeconomics Research Program LIM, GUAY: BEc MEc PhD ANU Research interests: Modelling the Australian economy, macroeconometrics, exchange rates. Director, Applied Microeconomics Research Program and Senior Research Fellow WEBSTER, ELIZABETH: BEc (Hons) MEc Monash, PhD Camb Research interests: Industrial economics, macroeconomics, labour markets.

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Professorial Fellows BOSWORTH, DEREK: BA Lanc, MSc PhD Warw Research Interests: Economics of innovation and technical change, productivity and firm performance, and intellectual property. SCOTT, ANTHONY: BA (Hons) Newcastle, MSc York, PhD Aberdeen Research Interests: Health economics – the economics of primary care and general practice, the labour markets of health care professionals. Principal Research Fellow and Deputy Director HILDA HEADEY, BRUCE: BA Oxford, MA Wisc, PhD Strath Research interests: Welfare and distributional issues and social welfare policies in Western Europe and North America. Senior Research Fellows KALB, GUYONNE: MEc Erasmus, PhD Monash Research interests: Applied microeconom(etr)ics, in particular, labour and household econom(etr)ics; social policy issues; microsimulation modelling. WILKINS, ROGER: BCom MCom MSc Wisc, PhD Research interests: Labour Economics, income inequality and poverty, microeconomics, applied microeconometrics. YONG, JONGSAY: BA BSocSc (Hons) MSocSc NUS, MA PhD Brit Col Research interests: Health economics, industrial organisation, competition policy and regulatory economics, transport economics, applied game theory. Research Fellows BUDDELMEYER, HIELKE: MSc Vrije/Am MA PhD NYU Research interests: Applied microeconomics, labour supply, applied econometrics. CAI, LIXIN: BEd Henan, MA Renmin, MEc PhD ANU Research interests: Labour economics, social policy, social security reforms in transitional economies.

CHUA, MICHAEL: BEc (Hons) PhD UNE Research interests: Bayesian inference, forecasting, applied macroeconomics. FREIDIN, SIMON: BBSc (Hons) GradDipCompSc LaTrobe Position: Survey Research Database Manager and Analyst – HILDA HARDING, GLENYS: BEc ANU Research interests: Database Manager and Analyst, with particular interests in Intellectual property and large enterprises. JENSEN, PAUL: BEc Syd, PhD AGSM Research interests: Microeconomic reform, industrial organisation, intellectual property. LEAHY, ANNE: BCom GCertClassics Research interests: Domestic and international macroeconomic developments. LIEW, WOEI TIAN: BSc MSc LaTrobe, GDipEc Position: Website Manager, Research and Computing Systems Officer PALANGKARAYA, ALFONS: BSc MA PhD Oregon Research interests: Industrial organisation, health economics, econometrics. RANASINGHE, RASIKA: BA Sri Lanka, MA PhD American Research interests: Labour economics, applied microeconomics, returns to education, poverty. SCUTELLA, ROSANNA: BCom (Hons) Research interests: Welfare economics, behavioural. microsimulation, econometrics. SONG, LEI LEI: BA E China MSc Wuhan, MEc W’gong, PhD Research interests: Applied macroeconomics, exchange rate economics, the Chinese economy TSENG, YI-PING: BEc Taiwan, PhD ANU Research interests Labour economics, applied microeconometrics, economic and social Policy.


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WATSON, NICOLE: BSc UWA, GDipMgtSc Canb Position: Survey Manager – HILDA

Administrative Staff

VAN DYKE, NINA: BA Stanford, MA PhD U Calif Research interests: Health, education, disadvantaged and at-risk youth, public opinion.

Functions Manager HOPE, PENELOPE: BA LaTrobe

Research Officers BLACK, DAVID: BCom (Hons) Research interests: Labour economics, government policy, applied econometrics. CHAPMAN, RIANNA: BA (Hons) MPH Position: HILDA Database Support Officer SMITH, PENELOPE: BEc (Hons) UWA, MCom Research interests: Business cycles, open economy macroeconomics, applied econometrics. VU, THI HONG HA: BEc Newcastle (Hons) ANU Research interests: Macroeconomics, applied econometrics, social policies and welfare economics. WARREN, DIANA: BCom MCom (Hons) W’gong Research interests: Innovation and economic growth. Research Assistant WARE, KERRY Research interests: Inflation

Business Manager DERHAM, RACHEL: BSc

Publications Manager LENTINI, NELLIE: BA Monash Finance Officer BOWDEN, CHRIS: BA/BSc Monash, MCom Deakin Communications and Publicity Coordinator A’BELL, LAURA Executive Assistant to the Director MCLEAN, HEIDI: BA (Hons) UTas, MCom Administrative Assistant, HILDA ROBERTS, SAMANTHA: BA LaTrobe Administrative Assistants BARRON, DUANE QIN, ROSY: BCom, DipEd Adjunct Professors BORLAND, JEFF: MA, PhD Yale Head, Department of Economics, The University of Melbourne Research interests: Analysis of the operation of labour markets in Australia, applications of microeconomic theory to labour markets, and the economics of sport.

CREEDY, JOHN: BSc (Eco with Stats) Brist, BPhil (Eco) Oxford, Truby Williams Chair of Economics, Department of Economics, The University of Melbourne Research interests: Research interests include income distribution, public economics, labour economics, and history of economic analysis. FREEBAIRN, JOHN: MAgEc NE, PhD Davis, FASSA Department of Economics, The University of Melbourne Research interests: Taxation reform, labour economics, especially employment, infrastructure pricing and investment, and microeconomic reform. SAMSON, DANNY: BEc PhD UNSW Department of Management, The University of Melbourne Research interests: Operations management, business competitiveness, strategy and e-commerce. Professorial Fellows CHAPMAN, BRUCE: BEc (Hons) ANU, PhD Yale Professor of Economics and Director of the Centre for Economic Policy Research, RSSS, The Australian National University Research interests: labour economics, the economics of education, applied econometrics, industrial relations and economic policy issues.

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DRAGO, ROBERT: BS Tulsa, MA PhD Mass/Am Professor of Labour Studies and Women’s Studies, Pennsylvania State University Research interests: economics of work and family. DUNCAN, ALAN: BA (Hons) Manc, DPhil York Professor of Microeconomics, School of Economics, University of Nottingham Research interests: welfare program evaluation, analysis of work incentives, static and behavioural tax microsimulation, econometric models of labour supply, and labour market and welfare program participation.

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KELLEY, JONATHAN: BA Camb, PhD Berkeley Director, International Survey Project, The Australian National University Research interests: quantitative sociology and social economics. SCHEDVIN, BORIS: BEc PhD Syd Research interests: economic history with particular interests in the transformation of the Australian economy and of Australian economic and scientific institutions during the course of the twentieth century. WILLIAMS, ROSS: BCom MScEc PhD Lond, FASSA Research interests: economics of education, household consumption and saving, federal–state finance, and the allocation of time by households. Principal Fellows Boehm, Ernst: AUA BEc (Hons) MEc Adel, MCom, DPhil Oxford Research interests: the measurement and dating of the business cycle, and the economic history of Australia. MARKS, GARY: BSc (Hons) MSc PhD Qld Research interests: the youth labour market; unemployment, earnings, pathways to full-time work; and education/early school leaving, achievement in literacy and numeracy, and educational participation.

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NIEUWENHUYSEN, JOHN: BA (Hons) MA Natal, PhD LSE, FASSA Research interests: taxation, industrial relations, industrial regulation, economic growth, immigration, welfare and poverty. Senior Fellows DOIRON, DENISE: BA Monc, MA PhD UBC Senior Lecturer, University of New South Wales Research interests: industrial relations and bargaining theory, labour economics and labour and social policy. ROGERS, MARK: BSc Lond, MSc Warw, PhD ANU Tutor in Economics and Management, Harris Manchester College, Oxford Research interests: economic growth and industrial organisation with a particular focus being on firm-level performance using Australian data. EVANS, MARIAH: BA Reed, MA / PhD Chicago Research interests: Poverty, inequality, attitudes to welfare, family issues, ageing and retirement, social capital, labour market and work issues.

Faculty Secretariat General Manager DIXON, SUZANNE: BCom, DipEd Hawthorn Institute, MBA VUT

Administrative Staff ALDRIDGE, DAVID: BSc (Hons), PhD Position: Manager Information Systems BANKI, JACQUELINE: DipAdvMgmt (Professional Writing), BA Monash Position: Executive Officer (Marketing) BELFORD, DOUG: BAppSc Swin Position: Systems Administrator CHANG, NOOI: BA (Hons) Malaya, MEPA Monash Position: Manager (International) CHOONG, EDDIE: BBusStud VU, CPA Position: Executive Officer (International Programs)

COLLIS, STEPHEN Position: Manager, Professional Programs COX, CHANTELLE: BA RMIT, MT (Web and Internet Comp) RMIT Position: Web Developer CUNSOLO, ANTOINETTE Position: Undergraduate Manager – to July 2004 CUNSOLO, JOANNE Position: Course Adviser DO, NGHIA: BElectEng RMIT Position: Computer Systems Officer EDWARDS, LARISA: BBus Swin Position: Student Adviser and Special Projects ELLIS, TRACY: BA(Lit&Soc) SUT Position: MBIT Program Coordinator GEORGESZ, MARK: BEc LaTrobe Position: Executive Officer (Resources) GILLEARD, RACHEL: BA Position: Administrative Officer (Study Abroad) HILL, ADRIAN: CertBasicElect, CertIVCompSys, DipCompSys, MCSE Position: System Support Officer JENKINS, ALISON Position: MBIT Program Coordinator JOSE, SABINA Position: Administrative Assistant (Postgraduate Studies) JOVANOVSKI, SOKOLA Position: Administrative Officer (International) KARIBIAN, ROCIO: Translating& InterpretingCert, RMIT Position: International Programs Officer KENT, ELIZABETH: BA (Hons) UNSW, PhD Position: Transition Officer LASCELLES, SCOTT: BBus LaTrobe Position: Enquiries Officer (Professional Programs) LLOYD, AMANDA: BBus VUT Position: Systems Support Officer LOI, AILEEN: BCom, MIB NZ, Chartered Accountant (ICANZ) Position: Financial Controller


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MAJCZAK, DANIEL: DipHospMgmt, William Angliss Position: Trainee Support Assistant

SINEL, PAULINE: DipBS (NZ), Accounting Technician (ICANZ) Position: Management Accountant

MCINNES, KYLIE: BA Position: Enquiry Officer (Professional Programs)

SIVATHASH, BALA: MSc UK, BEng India, MCSE Position: Systems Support Officer

MCPHARLIN, SUSAN: BA BCom Adel Position: Executive Officer (Development)

STIEMER, MARTINA: BA Position: Executive Officer (Finance)

MONG, CATHERINE: BBus Singapore, GradDipSoftwareDev RMIT Position: Course Adviser PHAM, QUYNH Position: IT Support RITTER, ANNE Position: IT Support ROBERTSON, KATE Position: Student Adviser RYCROFT, ANNA: BA VU Position: Accounts Processing Officer NGUYEN, TRUMAN: BComSc, MCSE, CCNA Position: Systems Support Officer NGUYEN, TRUNG: BAppSc FIT, MSc VUT Position: Laboratory Manager PECORARO, FRANCESCA: BA (Media Studies) RMIT Position: Student Liaison Officer SHARMA, SANJAY: MSc India, PGradDipCompSysEng RMIT Position: Web Developer

TAN, MICHAEL Position: Porter TINWORTH, KOBY Position: Executive Assistant to the General Manager – maternity leave VELLU, PHYLLIS: MA India Position: Executive Assistant to the Dean WALKER, DAVID: MA, PhD Position: Executive Officer (Research) YOUNG, BROOKE: BA LaTrobe, PGrad Dip (Art Cur St) Position: Manager (Marketing and Development)

Teaching and Learning Unit Director JOHNSTON, CAROL: BCom MEd DEd Staff ANDONOV, PAUL: AssDipComp, BSc (Maths&InfoSc) VU Position: Manager/Programmer Web Development BORG, SONIA Position: Administrative and Research Assistant

DAVIES, MARTIN: BA GradDipEd BA (Hons), RSA CTEFLA, PhD Flinders, PhD Adelaide Position: Postgraduate Learning Skills Specialist JONES, ANNA: BA (Hons) DipEd, GradDipTESOL MEd Position: ESL Specialist MORRIS, GAYLE: BA GradDip Post Secondary Ed MEd (Adult Edu) Position: Learning/Teaching Skills Specialist PESINA, JENNY: BDes (Multimedia Design) Swin Position: Web Developer/Learning Technologies Support Officer SHAW, JENNIFER: DipInfoTech Chisholm Position: Administrative Assistant WAECHTER, TREVOR: BE MSc PhD Position: Maths Specialist

Giblin Economics and Commerce Library Staff Giblin Librarian WARD, SHIRLEY: BA GradDipInfoMan, RMIT Information Librarians WALTERS, WENDY: BA (LibInfo Studies) Position: Information Librarian WARBURTON, JENNIFER: BEd SCV Toorak, GradDipLib RMIT Position: Information Librarian

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Contact the Faculty Mailing Address:

The Faculty of Economics and Commerce The University of Melbourne VICTORIA 3010 AUSTRALIA

Telephone:

+ 61 (03) 8344 5317

Facsimile:

+ 61 (03) 9347 3986

Email:

commerce-enquiries@unimelb.edu.au

Internet:

www.ecom.unimelb.edu.au

Authorised by the General Manager Published by the Faculty of Economics and Commerce, April 2005 Š The University of Melbourne

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2004 Annual Report FBE