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Annual Report 2008 Outlook 2009

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The new Faculty of Economics and Commerce Building at 198 Berkeley Street, Carlton

b Annual Report 2008 Outlook 2009


contents 3 Message from the Dean 5 The University of Melbourne 7 Faculty of Economics and Commerce

10 Staff distinctions and awards 12 Department profiles

15 Academic programs

15 Undergraduate programs 17 Graduate programs

19 Research and Knowledge Transfer

19 20 24 29

Research and research training Research grants awarded in 2008 Centres in the Faculty Knowledge Transfer examples

31 Engagement with alumni

34 Prominent graduates

36 Internationalisation 40 Engagement with business and community 44 Academic and professional staff 55 Academic appointments and promotions

56 Statistical tables

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Professor Margaret Abernethy Photograph: Chris Budgeon

There was a record number of awards available to students in the Faculty in 2008, with up to 100 scholarships for those commencing study during the year.

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Message from the dean 2008 saw the first intake into the new Bachelor of Commerce as part of the implementation of the University’s far-reaching curriculum reform. The BCom is one of the most sought after courses of its type in Australia, with a Clearly-In Rank of 95.2 and 1,287 enrolments in 2009. BCom subjects are also proving a popular choice for breadth study, for those completing other New Generation degrees. In early 2008 a thorough review of graduate programs offered by the Melbourne Graduate School of Management (Melbourne GSM) was undertaken in line with the needs of industry, the latest research and recent pedagogical developments. Our new advisory board proved invaluable in this process and provided us with advice to ensure that our programs meet the requirements of industry and address predicted skills shortages. Born of this review are several new programs and changes to existing programs. The new Master of Management suite of programs is aimed at graduates from all disciplines that want to gain professional entry qualifications. This suite is available in the specialist fields of accounting, business analysis and systems, economics, finance and marketing. The Master of Management is a degree title that is internationally recognised and its introduction offers a consolidated program for graduates of the University of Melbourne New Generation degrees, as well as recent graduates from other universities. Also new is the Master of Professional Accounting, which is designed for graduates who have already studied commerce at undergraduate level and are looking to qualify and practice as an accountant. Other changes include the revised Master of International Business, which is now offered as a 12 or 16 subject program over 18 or 24 months, and the Master of Finance (previously named the Master of Financial Management) aimed at pre-experience individuals who want to undertake more comprehensive studies than an undergraduate major allows. There were a record number of awards available to students in the Faculty in 2008, with up to 100 scholarships for those commencing study during the year. Up to 24 of the scholarships currently available offer 50% fee remission or more. In addition, 70 awards were offered to students undertaking a coursework program at the Faculty.

In 2008 a new student centre for undergraduates was launched. It has been designed as a one-stop shop for our students to accommodate their needs – from enquiry and enrolment through to orientation and a raft of student experience activities. Our aim is to provide students with a smooth and positive student experience right through to when they become alumni of the Faculty. The mentorship program is an exciting new initiative that UMCAS has been involved with in 2008. Volunteer alumni mentors had the opportunity to mentor one or more undergraduate Commerce students. The opportunity was extended to all Commerce alumni, particularly focusing on younger alumni with the hope of creating a greater affinity between each mentor and undergraduate mentee. In 2008, the Melbourne GSM’s Student Experience team organised two pilot Global Mobility Programs (Bangkok in February and Kuala Lumpur in July). 20 high achieving students from across the Melbourne GSM successfully completed the programs. The 14-day programs included a nine-day project with a locally based company, an introductory lecture series at an exchange partner university (Thammasat University and the University of Malaya) and a cultural sightseeing component. Following the success of these pilot programs, a new Global Business Practicum subject has been developed by the Melbourne GSM and the Department of Management and Marketing. This will run as an intensive for-credit subject in summer and winter semesters. 2008 saw more high quality research outcomes from academic staff and students in the Faculty, as demonstrated by publication data, an increase in PhD completions and the award of competitive funding to Faculty academics. 2008 also saw Professor Ian King from the Department of Economics take over the post of Faculty Associate Dean of Research from Professor Colin Ferguson. The Faculty was again very successful in attracting Australian Research Council funding for 2009. We received seven new Discovery Grants (a success rate of 53% overall) and one Linkage Round 1 grant (a success rate of 50%), a very pleasing result. The Faculty continues to provide thought leadership for staff, students and the general community through its series of Inaugural and public lectures. In 2008 we attracted some outstanding international and local speakers. Of note of course are our annual David Finch (two held in 2008) and Downing Lectures.

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The Faculty has actively contributed to the University’s Knowledge Transfer activities with a number of notable contributions in 2008:

The returns on investment in the sector are significant both for society and economic prosperity in Australia and the region.

Y Over

The Faculty Advisory Board, established in 2007, continues to be an invaluable resource to the Faculty, keeping us in touch with developments in industry and challenging the Faculty to become the leading Economics and Commerce Faculty and Graduate School of Management in the region and one of the best in the world. In 2008, the Board, chaired by Mr Peter Yates, welcomed two new alumni, BCom (Hons) graduates Mr Rupert Myer and Mr Anthony Burgess.

the summer of 2007-08, Dr Rhonda Smith (Economics) spent two months working in Papua New Guinea (PNG) on an aid program sponsored by the Asian Development Bank (ADB)

Y In

late March the Melbourne Institute held its Economic and Social Outlook Conference where more than 70 of Australia’s most influential economic and social policy makers from the Federal Government, industry, civil society and the business media presented their views on how to develop and implement a ‘New Agenda for Prosperity’

Y Dr

Prakash Singh of the Department of Management and Marketing and Dr Martin Davies from the Teaching and Learning Unit ran the first of several Case Study Workshop for the lawyers of the Women’s Legal Service Victoria (WLSV) in September.

These are but a few examples of the breadth of research and engagement activities that are integral to the work of the Faculty. More information can be found about Knowledge Transfer activities in the Faculty’s Insights newsletter and at: www.ecom. unimelb.edu.au/faculty/knowledge_transfer.html Our hardworking Faculty staff have excelled in their academic achievements and received numerous awards, prizes and distinctions throughout 2008. More about these outstanding achievements are noted in the Staff Distinctions and Awards section of this Annual Report. I am delighted to report that Professor Jeff Borland has been named as the next Chair of Australian Studies at Harvard University, USA. He has held a full-time teaching position in the Department of Economics since 1988. Professor Borland will take up the position in 2010. He will be the first economist to hold the chair since University graduates Professor Max Corden (1986) and Professor Bob Gregory (1983-84). The Faculty welcomed economist and climate change review chair Professor Ross Garnaut in 2008, who was appointed a Vice-Chancellor’s Fellow at the University of Melbourne and a Professorial Fellow in the Faculty. I was both surprised and deeply honoured last December to be awarded the 2008 National Telstra IBM Community and Government Business Woman of the Year Award. I am determined to use this award to promote the benefits of education and to draw industry and government’s attention to the importance of investing in higher education.

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Many of our alumni have contributed in some way to our success in 2008 by advising on the development of new programs, engaging with our students through the business practicum subjects in Australia and overseas, providing work and internship opportunities, mentoring, speaking at our functions and attending our lectures. Late 2008 and early 2009 marked a significant moment in the history of the Faculty with our relocation to a new building and a new campus precinct south of Grattan Street. Our success over the past decade has meant that the number of staff and students has grown and as a result, our Faculty has been dispersed in various buildings throughout the campus. Now, the majority of the Faculty have been relocated to 198 Berkeley Street; giving us the potential to become a singularly dynamic centre for commerce and economics in Australia. The building itself was designed by award winning architects Metier3 and has already gained a five star energy rating. The building provides stateof-the-art facilities for students and staff, featuring a range of collaborative and individual teaching spaces, open-access laboratories, lecture theatres and student break-out areas for informal learning. I would like to acknowledge and thank the many friends of the Faculty who have supported and assisted us this past year with their endeavours, both within and beyond the University community. I hope that you will find this report of interest. Please do not hesitate to contact the Faculty if you would like more information. Professor Margaret Abernethy Dean of the Faculty of Economics and Commerce and Director, Melbourne Graduate School of Management


The University of Melbourne History and reputation

Research

Established in 1853, the University of Melbourne is a public-spirited institution that makes distinctive contributions to society in research, teaching and knowledge transfer. It consistently ranks among the leading universities in the world. The World University Rankings of the Times Higher Education Supplement 2008 ranks us – overall at number 38 in the world, 21 by our international peers*, and importantly, employers place us ninth. Another respected ranking body, the Shanghai Jiao Tong University Ranking of World Universities, places us at number six in the Asia-Pacific region and number 73 worldwide.

The University is a globally significant research institution. It is Australia’s largest university in terms of both research expenditure and income, and is the country’s second largest research and development organisation, a position enhanced by its proximity to so many of the nation’s independent medical research institutes in Parkville.

The University of Melbourne is a member of the prestigious Group of Eight, comprising the leading comprehensive research-intensive universities in Australia. In addition, the University is a member of Universitas 21, an international network of leading research-intensive universities. Universitas 21 facilitates collaboration and cooperation between the member universities and creates entrepreneurial opportunities that are larger than could be achieved individually or through traditional bilateral alliances.

Staff The University of Melbourne staff of more than 6,500, includes Nobel Laureates, eminent scholars, award-winning researchers and many internationally renowned academics. In all disciplines, Melbourne is active in international networks of scholarship and collaboration, offering excellent academic and research prospects to its students.

Students The University community is made up of 45,000 students including more than 10,000 international students from a least 100 different countries.

* The Peer Review score is the most heavily weighted of the six measures used in the Times Higher World Ranking methodology, accounting for 40% of the overall ranking score.

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Location and campuses

Programs

The main University campus covers 20 hectares and is located at Parkville, adjacent to the Melbourne central business district and near Carlton’s vibrant Lygon Street precinct. A number of residential colleges and student apartments are located close to the Parkville campus.

Undergraduate

The University also has a number of other campuses and institutes: Bio21 Institute, the University’s Molecular Science and Biotechnology Institute; the Burnley campus, in suburban Melbourne, which teaches environmental and ornamental horticultural programs; the Creswick campus which teaches forestry programs; the Dookie campus, a major rural hub about 200km north of Melbourne, teaching natural resource management, agriculture, agribusiness, wine technology and viticulture; the Victorian College of the Arts; and the Werribee campus and Veterinary Clinical Centre.

Faculties and schools The University comprises 12 faculties and schools from which its teaching and research activities pertain. These are: Architecture, Building and Planning; Arts; Economics and Commerce; Education; Engineering; Land and Environment; Law; Medicine, Dentistry and Health Sciences; School of Graduate Research; Science; Veterinary Science; and the Victorian College of the Arts (VCA) and Music. 2008 saw the launch of new Graduate Schools specifically designed to deliver graduate coursework and research higher degree programs and to support our graduate students. In line with this, the Faculty of Economics and Commerce launched the Melbourne Graduate School of Management (Melbourne GSM) in 2008.

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2008 saw the University’s first intake of students into its six New Generation Bachelor Degrees in Arts, Biomedicine, Commerce, Environments, Music and Science. These degrees form the core undergraduate programs offered by the University and provide pathways to graduate professional programs in fields such architecture, engineering, law, accounting, medicine, nursing and teaching.

The Bachelor of Commerce is one of the most sought after courses of its type in Australia, with a Clearly-In Rank of 95.2 and 1,287 enrolments in 2009. Graduate At graduate level the University offers graduate and postgraduate certificates, diplomas and masters degrees including masters by coursework and research. With over 3,000 students in research higher degrees, the University confers more Doctors of Philosophy and higher doctorates than any other Australian institution. In 2009, the Melbourne GSM introduced a suite of programs aimed at graduates with a degree from any discipline that seek professional entry qualifications. These Master of Management courses are available in the specialist fields of accounting, business analysis and systems, economics, finance and marketing. We also offer a comprehensive suite of graduate coursework and research programs for more experienced professionals who want to develop their career further.


Faculty of Economics and Commerce History

Current profile

Building on its long history, the Faculty has a proud record of innovation in teaching, and excellence in research. Economics has been taught at the University of Melbourne since its foundation, commencing with the appointment of W.E. Hearn as Professor of History and Political Economy in 1855. The Faculty itself was established in 1924 and teaching commenced in the Bachelor of Commerce the following year. The founding 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 Copland Lecture Theatre perpetuates his memory.

The Faculty is a leading centre of business and economics education, research and innovation.

The Faculty of Economics and Commerce has always been a pioneer in Australian business education. In the 1930s, it led the way by teaching marketing and, in 1954, it appointed Australia’s first full-time Professor of Accounting, A.A. Fitzgerald. The Faculty first offered the MBA degree in 1963 (now taught in the Melbourne Business School) and has remained a leader in graduate education. Graduate degrees in business and IT, applied finance, international business, applied commerce and accounting were all introduced as timely responses to shifts in the economic and business landscape. During its long history, the Faculty’s student population has transformed. In 1925, the first cohort entering the BCom was predominantly parttime students working in commerce in the city of Melbourne. Today, the degree takes a large cohort of full-time students, recruited from high-performing school-leavers both in Australia and overseas. The Faculty has an extensive alumni body, numbering some 36,000 students who have graduated since its foundation 85 years ago. Many of these graduates now occupy senior positions in business, government and academia, both within Australia and around the world.

Our academic staff make key contributions to professional and public debate through publications in the international scholarly literature, conferences, lectures and executive education. They are also regularly invited to provide expert advice to the highest levels of industry and government, both nationally and internationally and have won numerous awards in teaching and research excellence. The aims of the Faculty of Economics and Commerce at the University of Melbourne are to: Y Conduct

and disseminate research of international standing in the disciplines of accounting, actuarial studies, economics, econometrics, finance, business information systems, international business, human resource management, management and marketing

Y Provide

the highest quality of teaching and training to the brightest students in Australia and overseas

Y 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 and Marketing. The Centre for Actuarial Studies is located in the Department of Economics. The Melbourne Institute of Applied Economic and Social Research is also part of the Faculty. Our departments collaborate closely in both teaching and research. The Faculty also includes a specialist Teaching and Learning Unit (TLU), which was the first of its kind in Australia. The Unit is instrumental in supporting student learning, the development of innovative teaching practices and improving the teaching and learning culture throughout the Faculty.

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Some 8,289 students are enrolled in the various degrees and diplomas offered by the Faculty. 6,346 students, representing approximately 25% of undergraduates in the University, are enrolled in the BCom, either as a single degree, or, more commonly, in combination with another degree such as Arts, Law, Engineering or Science. Over 1,900 students are enrolled in postgraduate diplomas and degrees, including 145 in research higher degrees. In 2008, the Faculty taught in excess of 5,831 full-time equivalent students. Of this load, 38% are Australian students paying under an income contingent loan scheme (HECS) with some government subsidy, 52% are international students and 10% are full fee-paying Australian students. There are 225 full-time equivalent academic staff employed in the Faculty, supported by 165 professional staff.

2008 Faculty highlights 2008 was an extremely busy and rewarding year with many notable highlights and achievements. The New Generation BCom proved more popular than ever before and we worked tirelessly to achieve our goal of bedding down this new program and ensuring our students continue to enjoy the richest, most rewarding educational experience possible. The new Melbourne Graduate School of Management (Melbourne GSM) got off to a flying start, developing its own unique identity and building successful relationships with industry representatives and external stakeholders. Among its key achievements was a comprehensive review of the Master of Applied Commerce (MAC), in order to offer a consolidated program for graduates of the University of Melbourne New Generation degrees, as well as recent graduates from other universities. In March, more than 70 of Australia’s most influential economic and social policy makers from the Federal Government, industry, civil society and the business media, presented their views on how to develop and

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implement a ‘New Agenda for Prosperity’. Hosted by the Melbourne Institute of Applied Economic and Social Research and The Australian, the conference explored many of the major economic and social issues facing Australia over the next decade.

Work commenced on the Faculty’s Business Unification Project (BUP), with the establishment of workstreams, appointment of project coordinators and interviewing consultants. 2008 saw a record number of awards available to students in the Faculty, with up to 100 scholarships available to those commencing study during the year. Up to 24 of the scholarships currently available offer 50% fee remission or more. In addition, 70 awards were available to students undertaking a coursework program at the Faculty. Key to the ongoing academic excellence of our students is the philanthropic support from the community, alumni and friends of the Faculty. The generosity of donors allows our students to flourish and succeed, both during their time at the University and in their future endeavours. Research projects in our departments and centres continued to win an ever greater share of competitive funding and Faculty staff earned high profile recognition for their contributions to leadership and teaching both within the University and out. (See Awards and Distinctions for full details.) As 2008 drew to a close, the Faculty celebrated the conclusion of stunning new premises on Berkeley Street. The landmark building is the University’s first five star Green Star rated building. It provides stateof-the-art facilities to students and staff and features a range of collaborative and individual teaching spaces. And finally, in December, the Faculty was delighted when the Dean, Professor Margaret Abernethy, won the prestigious 2008 National Telstra IBM Community and Government Business Woman of the Year Award!


Teaching and Learning Unit The Teaching and Learning Unit (TLU) provides a range of services for staff and students in the Faculty of Economics and Commerce. Ongoing research into teaching and learning practices in Commerce disciplines in a higher education setting ensure that programs and services meet the specific and evolving needs of the Faculty. The TLU supports academic development and works closely with academic colleagues in Departments to develop a range of programs: Y The Teaching Mentor Scheme is a recent initiative

that is a focused and supportive program for lecturers in the Faculty. The scheme recognises the importance of discipline- and course-specific issues and is based upon an open exchange of views, ideas and knowledge amongst participants in relation to teaching.

Y The

Teaching Enhancement Program provides academic orientation to lecturers new to the Faculty. The program was established to support new lecturers in the scholarship of teaching and learning within the Faculty.

Y The

TLU provides a thorough Tutor Training Program for all new tutors. This program is unique for its ongoing support of new tutors.

Y The

Peer-Assisted Study Scheme (PASS) run by the TLU provides over fifty Peer Assisted Study Scheme (PASS) sessions per semester in five Bachelor of Commerce subjects and one Master of Management subject. PASS sessions are small subject-specific study and revision groups facilitated by a trained senior student leader. Both students and leaders gain valuable communication, teambuilding and other interpersonal skills.

Y The

most popular online resource is the Online Tutor, an interactive tool that students can use in over 50 subjects per year. Students post questions to their tutors and receive a response posted online. The Online Tutor provides an alternative mechanism for communication between students and has become a valuable, easily accessible learning resource for students in Economics and Commerce.

Y The semester-long Graduate Enrichment Program

can be taken concurrently with graduate degree studies and is a further opportunity to enrich the social and academic experience of the University. It is a fun series of seminars in which graduate students build and practice academic skills such as effective reading strategies and presenting academic ideas with confidence. Cultural activities such as film groups enhance the social atmosphere of the program.

Y In

2009 the TLU delivered the Subject Design and Curriculum Renewal Program. The program is intended to help academic staff develop an educational, scholarly and evidencebased rationale for decisions about teaching and student learning.

The TLU provides a range of programs designed to support students’ learning and skills development: Y T2C

is a lecture and workshop series for all first year Commerce students. It provides resources and strategies essential for study success within the Faculty. In lectures, students learn about the academic expectations in the Faculty, plagiarism and referencing conventions, how to approach assignments, academic writing and exam preparation.

Y The

Peer Mentoring program for undergraduate and graduate students draws on the experience of current students who wish to support the transition of commencing students. Through the program, social networks are formed, insights are shared and new students gain information about the teaching and learning context of the Faculty of Economics and Commerce.

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Staff distinctions and awards Associate Professor Donald MacLaren (Economics) received the Quality of Policy Contribution Award from the European Association of Agricultural Economists in 2008. Associate Professor Neville Norman (Management and Marketing) was awarded a “Fellow of the Australian Institute of Management” from the Australian Institute of Management in 2008. He was also awarded the Official Visiting Research Scholar: July – October 2008 from the Faculty of Economics, Cambridge UK. Dr David Pitt from the Centre for Actuarial Studies was awarded the 2008 H.M. Jackson prize by the Institute of Actuaries of Australia for his paper “Modelling the claim duration of income protection insurance policy holders using parametric mixture models”, which was published in Annals of Actuarial Science. PhD student Sephorah Mangin (Economics) was selected to attend the Lindau Nobel Laureate Meetings (20-23 August) in Economic Sciences. She joined more than 300 of the best young economists from around the world, who met 14 Laureates in Economic Sciences and the Winner of the Nobel Peace Prize, Professor Yunus. Emeritus Professor Joe Isaac (Management and Marketing) was awarded the Association of Industrial Relations Academics of Australia and New Zealand Inaugural Vic Taylor Award for Distinguished Long Term Contribution to Industrial Relations. Prestigious professional journal HRM, the Journal awarded their annual Ulrich & Lake Award for Excellence in HRM Scholarship to Professor Anne-Wil Harzing (Management and Marketing) for her outstanding paper “Country-oforigin, localisation, or dominance effect? An empirical investigation of HRM practices in foreign subsidiaries”. The article was co-written with Dr Markus Pudelko and appeared in the winter 2007 issue of Human Resource Management (Volume 46, Number 4, pages 535-559). Professor Harzing also won the “all conference” best paper award at the ANZAM (Australian New Zealand Academy of Management) conference. Professor Harzing and her co-authors, Lena Zander (Victoria University of Wellington), Audra Mockaitis (Victoria University of Wellington) et al won the International Management stream award as well as the “all conference” award. The winning paper was entitled “Getting closer to the action: examining leaders’ behavioural intent with GLOBE’s leadership dimensions across 22 countries”.

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The paper “Operations and Maintenance Practices and their Impact on Power Plant Performance”, jointly authored by Shyong Wai Foon and Associate Professor Milé Terziovski (Management and Marketing), was the Operations Management Division winner of the Chan Hahn Best Paper Award at the 2008 Academy of Management Meeting in Anaheim, California. Associate Professor Christina Cregan (Management and Marketing) was awarded the Outstanding Reviewer Award 2006-2008 by the Journal of Management Editorial Board. Professor Cynthia Hardy (Management and Marketing) presented a keynote address at the 24th Colloquium of EGOS (the European Group on Organization Studies) in Amsterdam recently. 1,400 participants attended this annual meeting, where Professor Hardy made a presentation on the case of the Stockholm Convention – a UN treaty that came into effect in May 2004, establishing new global rules that restrict or ban the use and production of certain toxic chemicals known as persistent organic pollutants. Cynthia’s presentation examined how discourse is produced in these circumstances and the effects that it can have on changing the ways in which organisations respond to environmental challenges. Professor Hardy was also awarded a three year grant by the Social Sciences and Humanities Research Council of Canada for her research project “Technology Evolution and the Environment: A Discursive Perspective”, which examines processes of technology evolution for an ecologically sustainable economy. The project will be conducted with fellow researcher Professor Steve McGuire from McGill University, Canada. In addition, Professor Hardy accepted an invitation to attend the Nobel Symposium on the Foundations of Organization, held near Stockholm, Sweden. Dr Angela Paladino (Management and Marketing) was awarded Emerald Publisher’s Highly Commended Paper Award for her paper “Adding a Touch of Class: Examining the Role of Prestige in the Influence of Environmental Behaviors”, Yeoh, M. and Paladino, A. (2008) at the 15th Annual Conference on Retailing and Consumer Services Science in Zagreb, Croatia. It was one of only two such awards conferred. Dr Joeri Mol (Management and Marketing) received the Dean’s Award for Outstanding Lecturer in 2008.


The Basement Lecture Theatre in the new Faculty of Economics and Commerce building

Associate Professor Leisa Sargent (Management and Marketing) was awarded a three year grant by the Social Sciences and Humanities Research Council of Canada. Associate Professor Sargent is a member of an international research team headed up by Professor Mary Dean Lee, from McGill University in Canada. The main goal of the research is to study the range of pathways professional and managerial baby boomers are using to construct retirement in both Australia and Canada. Associate Professor Leisa Sargent and Associate Professor Bill Harley (Management and Marketing) have been awarded $118,000 by the Australian Research Council (2008-2010) for a linkage project with the Victorian Branch of the Australian Nursing Federation to examine the effects of job changes and human resource practices on nurses’ well-being, employee retention in the sector, medication errors and the quality of resident care.

Professor Stewart Leech (Accounting and Business Information Systems) was awarded the “Meritorious Service Award” by the Institute of Chartered Accountants in Australia. This award recognises outstanding service to the profession and in particular to the Institute of Chartered Accountants in Australia. Dr Les Coleman (Finance) was awarded one of three runner-up merit prizes in the JASSA Prize competition for best original article submitted for publication in JASSA. Jessica Curtis (Finance) won the Dean’s Award for Excellence in Tutoring for 2007. Dr Les Coleman and Dr Sean Pinder (Finance) won the Dean’s Award for Excellence in Teaching – Open Award for 2007.

Associate Professor Leisa Sargent, Research Fellow Belinda Allen, Professor Cynthia Hardy and lecturer Dr Jennifer Frahm (Management and Marketing) were awarded the 2008 Dean’s Award for Teaching Innovation as a Team. The team developed a program to build the capacity of tutors in the undergraduate subject Organisational Behaviour to work with students to enhance their team-based learning skills. Annual Report 2008 Outlook 2009 11


Department profiles Department of Accounting and Business Information Systems The Department of Accounting and Business Information Systems is one of the largest and oldest accounting departments in Australia. It attracts the highest calibre of academic staff, positioning itself as a leader in research, teaching and learning. Part of the Department’s success has been its ability to respond to the demand of industry and the profession by producing high quality graduates, conducting leading edge research, and providing customised non-credit programs for both industry and the profession. Many of our graduates have gone on to become leaders in industry, government and the profession. The Department is building on its position as one of the leading accounting departments in Australia by focusing on its core strengths in accounting, business analysis and accounting information systems. The Department’s programs are dynamic and evolving to meet the changing requirements of the business world. Strong links to the community and industry allow the Department to tap into current issues and industry requirements, work with the leaders and offer the best to its students. The Department has a strong research profile. Its PhD program, comprising one year of coursework and a 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 boards of a number of leading international academic journals. 2008 saw the establishment of the Centre for Accounting and Industry Partnerships, which will enhance partnerships between the University and the business sector, facilitate the formalising of lasting high-level accounting industry linkages and showcase the knowledge transfer activities and research and teaching outcomes that result from these linkages.

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Department of Economics The Department of Economics at the University of Melbourne is the leading economics department in Australia. It is a large department with 52 teaching and research staff and 20 professional staff, and includes the Centre for Actuarial Studies. 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 and macroeconomic 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 of education. The Department places a high value on its teaching program and the quality of that program. Its objectives are 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 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.


Department of Finance Finance has been taught at the University of Melbourne for many years, but a separate department specialising in finance was not established until July 2001. The Department has grown substantially since then, from just over 700 full-time students in 2002 to over 1,300 in 2008. Annual enrolments in our undergraduate subjects now vary from 1,600 in Business Finance to 107 in Real Estate Finance, our ‘smallest’ undergraduate subject. From such a large base, the Department has been able to offer a particularly strong honours program with an intake restricted to around 40 of the very best undergraduate students. To cater to an ever increasing demand, the Department also offers a suite of postgraduate programs, ranging from the practitioner-oriented Master of Applied Finance and Master of Financial Management programs, to the more academically focused Master of Commerce in Finance and PhD in Finance with coursework programs. In addition to its extensive teaching curriculum, the Department continues to focus on high quality, high impact research in the various (sub)disciplines of finance. 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, financial econometrics, finance education and international finance. To support its research activities, the Department has access to a large number of financial databases, including the Wharton Research Databases (WRDS), Datastream, Bloomberg and IRESS. The third strand of departmental activities involves the interaction between academic staff and the finance profession. Department staff are involved in a wide range of continuing education and executive programs, and have strong links with finance practitioners and financial institutions. A particularly effective conduit for the Department’s knowledge transfer activities has been provided by the Melbourne Centre for Financial Studies (MCFS), established in 2005 with the University of Melbourne as a founding member. The Centre’s Director is our own Professor Kevin Davis. The MCFS mission is to enhance Melbourne’s reputation as an international centre of financial practice, research and education. Since its inception, the MCFS has undertaken research projects, consulting activities and a range of educational activities, workshops and symposia.

To enhance teaching, research and knowledge transfer activities, the Department continues to host a large number of visiting academics from all over the world and has established particularly strong links with a group of prominent finance academics from the Stern School of Business at New York University. The Department also hosted a prestigious Research Seminar series in 2008, with prominent (inter)national academics presenting their latest research.

Department of Management and Marketing The Department of Management and Marketing provides integrated education in the disciplines of management and marketing. The main competence areas in management are human resource management and industrial relations, international business, organisation studies and operations management. The main competence areas in marketing are marketing management and communication and customer strategy. At the undergraduate level the Department teaches into the Bachelor of Commerce, from which students can graduate with a major in Management and/or a major in Marketing. The Department also presides over and teaches into a number of professional and practitioner Masters-level degrees. The overarching pedagogical aim of the Department is to develop in students strong leadership capabilities in the practice of management and marketing. There is also a strong focus on research in the Department, which supports five research centres: the Melbourne Centre for International Business, the Centre for Global Innovation and Entrepreneurship, the Foundation for Sustainable Economic Development, the Centre for Human Resource Management and the International Centre for Research in Organizational Discourse, Strategy and Change. The student load in the Department is over 1,200 full-time equivalents, with over 750 undergraduate and 250 postgraduate students. In 2008 there were 13 honours students and over 50 PhD students in a wide range of areas reflecting the diverse theoretical traditions and methodologies represented in the Department. Full-time academic staff numbered 41 in 2008.

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Melbourne Institute of Applied Economic and Social Research The Melbourne Institute is a research department of the Faculty of Economics and Commerce. Established in 1962 under the leadership of Professor Ronald Henderson, it was the first research institute of its kind in Australia. It has had six Directors: Ronald Henderson, Peter Dixon, Richard Blandy, Peter Dawkins, John Freebairn and Stephen Sedgwick. Throughout its history, the Melbourne Institute has made significant contributions to economic and social research in Australia, and has contributed strongly to economic and social policy analysis, debate and development. In 2008, the Melbourne Institute had a staff of about 47 as well as a number of honorary appointments. The Melbourne Institute operates in four research areas: Y

Labour Economics and Social Policy

Y

Applied Macroeconomics

Y

Industrial Economics

Y

Health Economics.

The Melbourne Institute is also the home of Australia’s major longitudinal survey of Household, Income and Labour Dynamics in Australia (HILDA), which is led by the Melbourne Institute’s Deputy Director, Professor Mark Wooden, under a contract with the Commonwealth Department of Families, Housing, Community Services and Indigenous Affairs (FaHCSIA). As well as contributing strongly to the academic literature in applied economic research, both in Australia and internationally, the Melbourne Institute has a long-standing tradition of working closely with business, government and community groups, by providing research and consultancy services. The Melbourne Institute continued to work interactively with third parties to influence policy development and to exchange knowledge acquired through research. In 2008 the Melbourne Institute conducted many public activities that informed public policy development and community debate. Its staff were active contributors to community debate through opinion pieces submitted to newspapers and other media. The public events included quarterly public forums held in both Canberra and Melbourne, devoted to topics of policy interest; and the Economic and Social Outlook Conference, held in conjunction with The Australian (held every 18 month). Specialist in-house seminars were also conducted.

14 Annual Report 2008 Outlook 2009

During 2008, major clients of the Melbourne Institute included the Australian Government Departments of FaHCSIA and Education Employment and Workplace Relations (DEEWR); the Victorian Department of Treasury and Finance; Westpac Banking Corporation; TD Securities; and the Reserve Bank of Australia – as well as the University of Melbourne. Currently, the Melbourne Institute has a major research contract for the provision of social policy research with DEEWR. The Melbourne Institute has also been successful in winning substantial ARC funding, both Discovery and Linkage grants, and is home to a NHMRC grant to conduct a longitudinal survey of Doctors – known as Medicine in Australia: Balancing Employment and Life (MABEL). The first wave of the survey was conducted in June 2008. The Melbourne Institute also provides postgraduate education at the PhD level. The Melbourne Institute is the home of one of Australia’s leading academic journals in economics, the Australian Economic Review. This has a strong policy focus and a readership that extends beyond the academic community. The Australian Economic Review is included in the prestigious Social Sciences Citation Index (only the second non-specialist economics journal from Australia to be included). The Melbourne Institute publishes regular economic indicator reports such as the Westpac – Melbourne Institute Indexes of Economic Activity; the Westpac – Melbourne Institute Survey of Consumer Sentiment; the Melbourne Institute Survey of Consumer Inflationary Expectations; the Melbourne Institute Wages Report; the TD Securities – Melbourne Institute Monthly Inflation Gauge, and the Melbourne Institute Employment Report. In 2008, the inaugural PricewaterhouseCoopers Melbourne Institute Asialink Index was developed. This is the first comprehensive attempt to track the progress of Australia’s engagement with Asia. In 2008 the Melbourne Institute began to host a multidisciplinary centre, devoted to the study of intellectual property issues. The Intellectual Property Research Institute of Australia (IPRIA), which is funded by IP Australia and the University of Melbourne, conducts a program of regular outreach activity across Australia to disseminate findings and promote debate on innovation.


Academic Programs Undergraduate programs In 2008, the following undergraduate courses were offered by the Faculty of Economics and Commerce: Y

Bachelor of Commerce

Y

Bachelor of Commerce (Management)

Y

Bachelor of Commerce (Honours)

The Bachelor of Commerce (BCom) and Bachelor of Commerce (Management) are three year, full-time programs. The Bachelor of Commerce (Management) is available to students who commenced their degree between 1998 and 2008. The honours degree requires a further one year of full-time study. The bachelor degree aims at developing powers of critical analysis that can be applied in many fields, and provides professional training for a wide variety of professions. The honours program allows students to undertake specialised study and research in an area of interest, and takes their analytical and research skills to a higher level. The New Generation BCom degree was implemented fully in 2008 as part of the Melbourne Model. The degree retains the depth and professional emphasis of the original degree, while offering the opportunity to gain additional breadth of learning. The BCom continues to meet the accreditation requirements of accounting and actuarial professional bodies. The core program comprises five compulsory subjects and students then choose a major from one or more of accounting, actuarial studies, business, economics, finance, management and marketing. Breadth is a result of taking subjects outside the core program of commerce, making up between a

quarter and a third of the degree. Breadth studies enable students to tap other bodies of knowledge, methods of enquiry, personal and professional skills, and ways of learning. It is clear that, regardless of the choices students make in their breadth studies, these additional studies will help our students develop into graduates with multi-faceted world views and the ability to adapt in an ever-changing global environment. Demand for the BCom in 2009 remained strong and attracted the very brightest of students. In 2009, the Clearly-In Rank for a Commonwealth supported place in the BCom was 95.20, representing the top 5% of students in the state, with comparable levels for interstate and international students. This signifies a consistently positive market response to the Melbourne Model and the New Generation BCom. The total number of students enrolled in the BCom in 2008, either as a single degree or as a combined degree, was 6,346. Faculty engagement in 2008 included the Accounting Extension Program; Master Class program; school visits; and representation at expos in metropolitan and regional Victoria and interstate, as well as on-campus activities promoting the Melbourne Experience. In 2008, over 500 high-achieving Year 10 students representing over 100 schools participated in the Master Class program. Four of our academics offered classes covering topics such as “Australians are living longer – will their retirement savings last?” and “The Art of Persuasion: does advertising really work?” Over 8,000 prospective students and parents visited Faculty staff and facilities during Open Day in August. A series of information events on the New Generation BCom was also well attended.

In 2008 the Faculty developed two new student centres – one for undergraduate students and one for Melbourne GSM students – designed as one-stop-shops for students. The student centres provide a comprehensive range of services including: Y

Administrative and transactional services such as enrolment, fees, results, assessment, transcripts and student ID cards

Y

Course planning advice and graduate study advice. Student Advisers provide individual advice on course selection and pathways to future employment, graduate professional degrees, or research higher degrees as well as assistance with queries and concerns about academic progress, engagement with studies, and life on campus

Y

Study abroad, exchange, volunteering and community engagement activities

Y

Referral to specialist services, such as careers advice, counselling, financial aid, housing and academic skills or language support.

Annual Report 2008 Outlook 2009 15


The Faculty has implemented strategies to ensure that our offerings are clearly differentiated from our competitors. One such strategy is the appointment of two Student Experience teams – one for undergraduate students, and the other for Melbourne GSM students. In 2008 the Faculty consolidated the many programs, opportunities and events available to students under the banner of ‘Student Experience’. This area is supported by well-staffed teams, giving students access to programs and activities which are designed to enrich the university experience, support learning, develop skills, facilitate involvement, and help students to realise their potential as a leader and effective global citizen. A range of opportunities are available to both undergraduate and graduate Commerce students that allow them to develop their skills and abilities, and ensure that they get the most out of university life. The services, facilities and support we provide are essential elements of the student experience at the Commerce Student Centre and Melbourne GSM. Services extend beyond the classroom to enrich learning, maintain well-being and prepare students for success after graduation. Some of the Student Experience opportunities include: Y

Case study competitions

Y

Student clubs and societies

Y

Study abroad and exchange

Y

Work experience and internships

Y

Career workshops

Y

Mentor programs

Y

Social and cultural events.

The Faculty continued to support student programs such as the Student Ambassador Leadership Program and Students in Free Enterprise (SIFE) in 2008. The SIFE team represented five faculties across the University and competed in New York for the SIFE World Cup after winning the national competition. Twenty-two undergraduate students and four graduate students in the Faculty took part in the Student Ambassador Leadership Program. As part of this program, students chose either a community project, a university service, or to volunteer at least 40 hours in the community with organisations including Engineers Without Borders, People Outdoors, Vic Aids Council, Scared Heart Primary School, Cystic Fibrosis Victoria and the New Hope Foundation. The Faculty’s seven undergraduate student societies were again very active, offering opportunities for students to develop personal and professional networks and engage in leadership roles.

Results of the 2007 Graduate Destination Survey were released in 2008, showing Faculty Bachelor graduates continue to perform well. A snapshot of outcomes were: Y

Of the Economics and Commerce graduates who were available for full-time work, 84% were working full-time

Y

Work sector destination: 90% private sector, 9% public sector and 1% non-profit organisations

Y

Over half of those looking for employment found work in organisations providing accounting services (31%), finance/insurance/superannuation services (13.8%), and banking services (12%)

Y

Job satisfaction was high with 95% of graduates very or moderately satisfied with their occupation

Y

93% regarded their job as a career position or a stepping stone to a desired career position

Y

Median annual salary $45,000 (national averages: accounting was $40,000 and economics/business was $40,000)1.

1 Graduate Careers Australia, GradStats, Number 12, December 2007, www.graduatecareers.com.au/content/view/full/24 The national figures are based on Australian resident bachelor degree graduates aged less than 25 years and working in their first full-time job.

16 Annual Report 2008 Outlook 2009


Graduate programs All graduate programs are now offered through the Melbourne GSM which is focused on providing business education for recent graduates and specialist programs for professionals in the early and middle stages of their career. Programs span the fields of accounting, actuarial studies, business and IT, economics, finance, human resource management, international business, management and marketing. The PhD program is also offered through the Melbourne GSM. For more details see the Research and Research Training report on page 19. A comprehensive review of our graduate programs undertaken in 2007/08 resulted in several changes to the offering. These included: renaming and relaunching the Master of Applied Commerce as the Master of Management suite; development of the Master of Professional Accounting; revising the Master of International Business; and renaming the Master of Financial Management – now known as the Master of Finance. In 2008, the Melbourne GSM introduced rigorous new entry requirements for its degrees. The Graduate Management Admissions Test (GMAT) is used across most or our programs, while the Graduate Record Examination (GRE) is specifically for studies with a research component in Economics and Actuarial Studies.2 These tests provide a consistent and standardised basis for evaluation, and are used in leading business and economics schools throughout the world. The introduction of the GMAT and the GRE is an important step in ensuring that the Faculty continues to attract staff and students of the highest calibre. With its team of 21 staff, the Melbourne GSM is able to provide very high standards of service and support for students – including comprehensive orientation for new students, a busy roster of social events, support for student groups, as well as the day to day management of student affairs. More than 1,900 graduate students were enrolled in masters and research higher degrees programs in 2008, up from 1,800 in 2007 and 1,600 in 2006. These students come from Australia and many other countries, and bring with them diverse cultural backgrounds and professional experience.

At the Melbourne GSM, students enjoy excellent career outcomes, rewarding classroom experiences and high levels of support for their academic and professional development. The classroom experience is complemented by a host of activities delivered by the Student Centre, the Student Experience team, student groups within the Faculty, and the Graduate Careers Centre. The Graduate Careers Centre (see page 18) plays an important role in ensuring that graduates are able to maximise their career opportunities while engaged in study and upon completion of their degrees. The following graduate programs are offered by the Faculty of Economics and Commerce: Y

Master of Management

Y

Master of Management (Accounting)

Y

Master of Management (Business Analysis and Systems)

Y

Master of Management (Economics)

Y

Master of Management (Finance)

Y

Master of Management (Marketing)

Y

Master of Business & IT

Y

Graduate Certificate in Business Forensics

Y

Master of Professional Accounting

Y

Master of Accounting

Y

PhD with Coursework (Accounting and Business Information Systems)

Y

Graduate Diploma in Actuarial Studies

Y

Master of Commerce by Thesis (in the area of Actuarial Studies)

Y

PhD by Thesis (in the area of Actuarial Studies)

Y

Master of Economics

Y

PhD with Coursework (Economics)

Y

PhD with Coursework (Melbourne Institute)

Y

Postgraduate Diploma in Finance

Y

Master of Finance

Y

Master of Applied Finance

Y

Master of Commerce (Finance)

Y

PhD with Coursework (Finance)

Y

Master of Human Resource Management

Y

Master of International Business

Y

Master of Commerce in Management (by Advanced Seminar & Shorter Thesis)

Y

PhD in Management & Marketing

2 Students applying for the Master of Economics, Master of Commerce by Thesis (Actuarial Studies), PhD with Coursework (Economics) and PhD by Thesis (Actuarial Studies) are required to sit the GRE. All other students must sit the GMAT. Exemptions for eligible students are available.

Annual Report 2008 Outlook 2009 17


Graduate Careers Centre Professional career development services are provided by the Graduate Careers Centre, a team of specialists who deliver a wide range of programs, facilitate career mentoring, arrange internships and provide individual consultations. The Centre aims to create career enhancement opportunities for students in all stages of their career development.

created their online CV and the CV Book was also used by employers. Y

A Career Day in each semester providing vital skill building, networking and engagement sessions with industry experts and successful alumni. Participants included representatives from ANZ, GE, Ernst and Young and the Litmus Group.

Y

Career Mentoring opportunities for 65 selected students, who were guided towards their goals by experienced industry mentors.

Y

A higher number of paid and unpaid internship opportunities structured to deliver maximum benefits to all parties, by allowing students with relevant experience and professional knowledge congruent to the needs of a business to be engaged in useful corporate work experience.

Y

Career Circles, in which Melbourne GSM students can engage with employers. Employers that held Careers Circles include: Booz & Co., BearingPoint, Australian Healthcare Associates and DBM.

In 2008 the Graduate Careers Centre’s services and programs included: Y

The fortnightly Career Minutes eNewsletter that kept students up-to-date with career news and events.

Y

The Career Hours program which was extended from six workshops to 11 to form the Graduate Careers Program – a not-for-credit subject facilitating career development for over 250 students who participated. These workshops also provided an opportunity for local and international students to communicate with each other in a professionally focused setting.

Y

More than 200 personalised career strategy sessions where students could develop individual plans, spanning from goal clarification through opportunity awareness to industry engagement, setting the stage for future career success.

Y

More than 200 students took advantage of the newly introduced drop-in sessions, where application documents were reviewed and short consultations regarding their career plans were offered.

Y

The use of the Online CV Book, which is a significant channel for connecting students to work opportunities. Over 100 students

18 Annual Report 2008 Outlook 2009

By delivering these career development opportunities and engagement models the Graduate Careers Centre has been pursuing its objective to “Access > Engage > Achieve” while facilitating knowledge transfer and community engagement. This is also in line with companies’ corporate citizenship priorities as well as the Growing Esteem strategy of the University.


Research and knowledge transfer Research and research training Academic staff and students in the Faculty produced high quality research outcomes in 2008, as demonstrated by publication data, an increase in PhD completions and the award of competitive funding to Faculty academics. Professor Ian King from the Department of Economics also took over the post of Associate Dean of Research for the Faculty of Economics and Commerce, replacing Professor Colin Ferguson. The Faculty was again very successful in attracting Australian Research Council funding, commencing in 2009. The Faculty received seven new Discovery Grants (a success rate of 53% overall) and one Linkage Round 1 grant (a success rate of 50%), a very pleasing result. Faculty researchers were co-investigators on cross-disciplinary Discovery and Linkage grants and also cross-institutional proposals. Professor Colin Ferguson was a Chief Investigator in a successful consortium application led by the Australian National University to set up an Australian Social Science Data Archive with an ARC Linkage, Infrastructure and Equipment and Facilities grant of $550,000 for 2009. The Faculty hosted two visits by Nobel Prize winners in 2008. Professor Sir James Mirrlees (awarded the Nobel Prize in 1996) and Professor Robert Lucas Jr (awarded the Nobel Prize in 1995) visited the Department of Economics in March. Professor Mirrlees is an Emeritus Professor of Political Economy at the University of Cambridge, UK, and a Fellow of Trinity College, Cambridge. This visit built on visits that have occurred over recent years where Professor Mirrlees has worked with Departmental academics

on research projects that have produced outstanding publications. Professor Lucas, Professor of Economics at the University of Chicago, and ranked by IDEAS/ RePEc as one of the 10 best economists in the world, travelled to Melbourne with his wife and Professor of Economics Nancy Stokey. Professor Lucas Jnr gave a public lecture titled “The Industrial Revolution and the Macroeconomics of Ricardo and Marx” on 26 March, which was very well attended. The Faculty’s researchers continue to be called upon by a wide variety of media for their expert opinions on a wide range of matters – such as pay ratios for men and women, the Federal budget, tax reform and the global credit crisis. Faculty staff are regularly interviewed on television, radio and in newspapers all over the country, and their research findings inform and underpin public policy. Dr Prakash Singh of the Department of Management and Marketing and Dr Martin Davies from the Teaching and Learning Unit ran the first of several Case Study Workshops for the lawyers of the Women’s Legal Service Victoria (WLSV) in September. After aiding the WLSV to obtain a grant from the Victorian Legal Service Board, Dr Singh and Dr Davies are now providing technical assistance in the delivery of the project by providing training to employees of the WLSV to develop case study writing capabilities. The Faculty successfully recruits research higher degree students of the highest calibre, who are supervised by dedicated academic researchers. Almost double the number of PhD students successfully completed their study in 2008, a testament to their commitment and also the excellent supervision provided by academic staff.

Annual Report 2008 Outlook 2009 19


Research Grants awarded in 2008 for projects commencing in 2009 Australian Research Council – Discovery Project Scheme

Australian Research Council – Linkage Grant Scheme

Administered by the University of Melbourne

Administered by the University of Melbourne

Community-Led Sanitation Interventions: The Role of Social Capital A/Professor L.A. Cameron; Dr M Shah; Ms R.S. Purnamasari State and Territory Economic Performance and National Economic Policy Dr R.J. Dixon; Professor G.C. Lim; Professor D Shepherd

The Market for Technology in Australia A/Professor E.M. Webster; Dr P.H. Jensen; Mr S.D. Applegate; Dr R Gilmore; Ms K.J. Sinclair Collaborating/Partner Organisation(s): IP Australia, Australian Institute for Commercialisation, Watermark

Scarcity of Ideas and Design of Optimal Incentive Schemes for Innovation Dr N Erkal

Administered by other University of Melbourne Departments with Faculty of Economics and Commerce Co-Investigators

Effects on Labour Supply, Savings and Welfare of the July 2007 Policy Changes to Superannuation and the Age Pension A/Professor G.R. Kalb; Professor J Creedy; Dr L Cai; Dr J van de Ven

Social and Health Inequalities Related to Changes in Drinking Water in Rural Victoria Dr A.M. Sanigorski; Professor E.B. Waters; Professor A Scott; Mr M.G. Gussy; Ms L.C. Gold; A/Professor H Calache Collaborating/Partner Organisation(s): Dental Health Services Victoria Administered by: School of Population Health

The US Interest Rate Conundrum and its Implications for Australia Professor V.L. Martin International Comparisons of Retirement Decisions and Wellbeing of Mature Age Populations: Applied Micro-economic Analyses Professor K Mavromaras; Professor J.W. Freebairn; A/Professor B.W. Headey; Dr Y Tseng; A/Professor K Bender; Professor I Theodossiou Australian Real Time Data: Construction, Analysis and Implications for Real Time Policy Making A/Professor K Shields; Professor N Olekalns; Professor K Lee Administered by other Institutions with Faculty of Economics and Commerce Co-Investigators Higher Order Moment Contagion Testing: Implications of the US Subprime Mortgage Crisis for Australia Dr R.A. Fry; Prof V.L. Martin; Dr L.C. Tang Administering Organisation: The Australian National University 20 Annual Report 2008 Outlook 2009

Faculty Research Grants Accounting and Business Information Systems The Effects of Decision Aid Structural Restrictiveness on Knowledge Acquisition Mr Poh-Sun Seow A Re-examination of the Residual Income Model and an Alternative Estimate of the Cost of Capital Dr Peter Vassallo; Professor Greg Clinch Control-risk Assessments and Audit-planning Decisions under Alternative Audit Review Mr Gang (Henry) Wu; Dr Paul Coram; Professor Colin Ferguson

Economics Stable Institutions Dr Georgy Artemov Exploring Individual Heterogeneity in Experimental Data using Bayesian Methods Dr Liana Jacobi; A/Professor Lata Gangadharan

The University of Melbourne Early Career Grants

Assessing the Efficacy of Market Models for Risk Managing Structured Products A/Professor Mark Joshi (Actuarial Studies)

Economics Robust Mechanism Design Mr Georgy Artemov

Unemployment, the Quality of Jobs, and Public Policy Professor Ian King

Management and Marketing Penny Wise, Pound Foolish: Consumer Apathy towards Seller Recommendations to Save Money Dr Brent Coker; Dr Anish Nagpal Brand Effects on the Neural Basis of Decision-Making Dr Philip Harris The Environmental Embeddedness of the CSP-FP Relationship: A Comparative Analysis Mr Benjamin Neville

The Applications of Phase-type Distributions in Risk Theory Dr Shuanming Li; Dr Xueyuan Wu Equilibrium Vertical Integration (with Downstream Oligopoly and Oligopsony) Dr Simon Loertscher Punishment and Feuds in Social Dilemmas Dr Nikos Nikiforakis Selling Timber in British Columbia: A Pilot Study Professor Harry Paarsch


Behavioural Contract Theory: The Moore-Repullo Mechanism Dr Tom Wilkening

Investigating the Validity of the Relative Income Hypothesis Dr Stefanie Schurer

Finance Succession Financing in Australian Small and Medium Sized Enterprises (SMEs) Dr Andre Gygax; A/Professor Asjeet Lamba

Exchange Rate Modelling using Single Source of Error Models Dr Sam Tsiaplias

Financial Innovation, Bank Value and Banking System Stability Dr Carsten Murawski Capital Adequacy of Asset Securitisations by Financial Institutions Dr Harald Scheule Effects of Hedge Funds on Security Design and Shareholder Wealth Dr Patrick Verwijmeren Information Content and Return Reversals Dr Liang Zhang

Management and Marketing Language Differences and the HQ-subsidiary relationship Professor Anne-Wil Harzing Foreign Strategic Investors in Corporate Governance: Evidence from Chinese Listed Companies Dr Helen Wei Hu; Dr Peter Verhezen Evolutionary Dynamics of Disruptive Innovation Dr Shu-Jung Sunny Yang

Melbourne Institute of Applied Economic and Social Research Inferred Causation in Empirical Economics: Methods and Applications, Dr Pu Chen Regime Changes and Time-varying in the TRYM Model Dr Chew Lian Chua Stock Market Integration in the Asia Pacific Dr Edda Claus

PhD Theses Completed Accounting and Business Information Systems Supplier Fight Back: SupplierInitiated Ecommerce, Dependency Power and Supplier Benefits Michael Tian Yoong Lee Task Complexity, Decisional Guidance, and Decision Aid Reliance Alison Parkes The Effects of Decision Aid Structural Restrictiveness on Decision-Making Outcomes Poh Sun Seow Preparers’ Control-Risk Assessments under Alternative Audit-Review Processes Gang Wu

Economics Monetary Policy in Bangladesh Omar Haider Mohammad Nazmul Bashar Three Essays in Intermediation, Social Choice and Voting Yuelan Chen

Specifying, Estimating and Evaluating Dynamic Macroeconomic Models for Australia Siwage Dharma Negara The Socially Optimal Level of Education and Human Capital Xuan Hoan Pham Poverty and Small-Scale Deforestation in Indonesia Ririn Salwa Purnamasari Essays on the Economics of Services Outsourcing: The Case of the Indian Software Services Industry Saowaruj Rattanakhamfu Analysis of Exchange Rate Behaviour with High-Frequency Data Sitthidej Saprungrueng Fair Valuation of Insurance Liabilities – A Case Study Manabu Sato The Effect of ASEAN Economic Integration with the Special Reference to the Thai Economy Piti Srisangnam A Statistical Analysis of the Origins and Impacts of Twenty-Six Years of Regulatory Regime Changes in the Australian Occupational Superannuation Industry Suzanne Mary Taylor

The Impact of International Trade in Education Services on Economic Growth in Developing Countries and the Cost Structure of Australian Universities Thi Hong Lan Dang

Finance Investment, Dividends, Firm Performance and Managerial Incentives: Another Insight into the Value of Corporate Governance Mahmoud Agha

Experimental Economics: Public Policy Design and Implementation Charlotte Victoria Duke

Information, Day Trading and Market Behaviour Kim Loong Choo

Intensity Models for Firm Failure and Credit Rating Migrations Ashley Bruce Evans

Leader Stocks, Follower Stocks and Switching Effects in the Australian Stock Market Tariq Hassan Haque

Job Vacancies in Australia Kelly Maree Jarvis

Investor Sentiment, Institutional Ownership, Executive Compensation and Corporate Investment Hui Li Annual Report 2008 Outlook 2009 21


Multi Dimensional Stochastic Volatility and its Application to Option Pricing Brett Leo Shanahan Shareholder Rights, Firm Performance and Information Flow Hong Feng Zhang

Management and Marketing Differentiating Marketing Capabilities: Cash Flow Impact and Potency Jeremy John Apsey Organisations, Caregivers, and the Stigmatised: Stigma by Association and its Implications for the Workplace Hugh Tulloch James Bainbridge An Investigation of the Relationship Between Supply Chain Uncertainty, Strategic Response, Supply Chain Partnerships and Firm Performance Patcharee Boonyathan High-Profile Crisis Management in Australian and New Zealand Organisations Victor Federico Del Rio Evaluating Social Investments in the Mining Industry Using MultiCriteria Decision Analysis Ana Maria Esteves 22 Annual Report 2008 Outlook 2009

The Relationship Between Operations and Maintenance Practices and Power Plant Performance Shyong Wai Foon The Link Between Product Innovation Orientation, Network Characteristics, and New Product Performance: The Case of the Australian ICT Industry Paul Sydney Joseph Hill A Discursive Approach to Strategic Change in Organisations Steven Victor Jaynes An Empirical Investigation of the Inter-Relationship Between Product Nature, Supply Chain Strategy, and Business Performance Sonia Ming-Shiow Lo Corporate Governance and the Strategic Board: The Impact of Corporate Governance Reform on Australian Board Performance Shey Michelle Newitt Organisational Culture Reproduction and Transformation Daniel Bernt Nyberg Structure and Innovativeness: Looking for Balance Eric Quintane

Exploring the Link Between Teams and Project Success: Evidence from Capital Projects in the Process Industries Christina Mary Scott-Young

Master of Commerce (by Advanced Seminar and Shorter Thesis) in Management Managing Risk in Supply Networks Zainab Ali Abdullah Al-Balushi Maintaining and Transferring Corporate Culture from Headquarters to Overseas Subsidiaries: A Case Study of a Small Global Company Qian Li

Master of Commerce (Employee Relations and Human Resource Management) Why Don’t Young People Join Unions? A Study of Antecedents of Young People’s Union Attitudes and Union Joining Intentions Leanne Griffin Organisational Culture and Performance Appraisal Politics as Predictors of Commitment and Control in Organisations Coral Smith


Faculty Honours (Research) Kinsman Scholarships In 2008, 14 Honours students were awarded studentships to work with academics to develop their research essays into publishable journal articles.

Accounting and Business Information Systems The Value Premium: Systematic Risk Due to Costly Reversibility, Errors in Expectation, or Lack of Recognition? Raymond Hass Incentives for Cash Flow Manipulation in Takeovers and the Impact on Tender Offer Premiums Gavyn Tellis

Do Airline Ticket Prices Contain a Loyalty Premium? Henryk Adam Smyczynski

Finance The Listing of Foreign Firms – The Case of London’s AIM Ashwin Dilip Khotkar Predicting the Share Repurchase Behaviour of Australian Corporations Daniel Norman Determinants of Bank Capital Structure in Developing Countries: Regulatory Capital Requirement versus the Standard Determinants of Capital Structure Monica Octavia

Economics Trafficking in Women for Sexual Labour, a Game Theoretic Analysis Sowmiya Ashok

Intermediaries in the IPO Process and their Impact on Underpricing: What do Investment Banks Truly Bring to the Table? Stephanie Ong

The Welfare Consequences of Interstate Agricultural Tariffs in India Felicia Eng

Cash Financed Acquisitions: The Source of Funds and Acquirer Returns Michael Smolyansky

Household Green Policy Programs: Analysing the Private Provision of an Impure Public Environmental Good in Australia Andrea LaNauze

Management and Marketing Packaging Authenticity in the Premium Beer Market Hugh Gundlach

The Welfare Effects of Fair Trade on Coffee Farmers Suphanit Piyapromdee

An Investigation of Consumer Motivations Towards Organic Food Purchases in Australia Samantha Smith

Visiting Research Scholar Grants The following international visitors were supported in 2008.

Economics Dr Ken Coutts (Cambridge University, UK) A/Professor Cary Deck (University of Arkansas, USA) Professors Robert E Lucas and Nancy Stokey (University of Chicago, USA) Professor Sir James Mirrlees (Chinese University of Hong Kong)

Economics and Melbourne Institute Dr Dean Hyslop (New Zealand Department of Labour) Finance Professor Bryan MacGregor (The University of Aberdeen, UK) Professor Richard Stapleton (The University of Manchester, UK)

Management and Marketing Dr Catherine Glee (IAE Lyon University, France) Melbourne Institute Professor Paul Gregg (University of Bristol, UK) A/Professor Nigel O’Leary (University of Wales Swansea, UK) Professor Peter Sloane (University of Wales Swansea, UK) Dr Justin van de Ven (National Institute of Economic and Social Research, UK)

Annual Report 2008 Outlook 2009 23


Centres in the Faculty The Asian Economics Centre

The Centre for Actuarial Studies

The Asian Economics Centre is housed in the Department of Economics at the University of Melbourne. The Centre brings together academic staff with research interests in economic issues facing the countries of the Asia-Pacific region and broader issues of global economic development. Its activities include research, conferences and teaching related to Asia and the Pacific. The Centre also strongly contributes to the University’s goal of knowledge transfer with members often being requested to provide advice and undertake research consultancies for international organisations.

The Centre for Actuarial Studies is located in the Department of Economics, within the Faculty of Economics and Commerce.

Faculty members affiliated with the Centre have researched, taught and published widely on development issues. Their research interests cover a variety of fields including development economics, trade and international economics, political economy, and experimental economics. All members have an interest in Asia but many also work on other geographic regions. Countries and regions of particular interest to current members are: Indonesia; India; China; and, outside Asia, Latin America. Dr Rajesh Chadha, a Senior Fellow at the National Centre for Applied Economic Research in New Delhi, gave a seminar on 30 October 2008 in Economics and Commerce, Lecture Theatre 1 entitled: “The Emerging India: Challenges Ahead.” The Asian Economics Centre’s objectives are to: Y Promote

research of the highest standard in the Asia-Pacific region

Y To

facilitate both national and international affiliations and research linkages in the fields of development economics and international economics

Y To

attract and facilitate the training of research students, and the exchange of doctoral and postdoctoral students

Y To

be a focus for external research funding for Asia-related projects

Y To

run conferences and workshops in fields of interest to members and of relevance to research on Asia.

In short, the Asian Economics Centre aims to be Australia’s leading centre of Asia-related economic research. The Director of the Centre is Associate Professor Lisa Cameron.

24 Annual Report 2008 Outlook 2009

The Centre offers a complete actuarial program that is fully accredited by the Institute of Actuaries of Australia. Teaching is done at undergraduate and Honours levels. The Centre also offers PhD supervision and distance education. Graduates who obtain marks above prescribed levels in specified subjects receive exemptions from the corresponding exams of the Institute of Actuaries of Australia or the Institute/Faculty of Actuaries (UK). The Centre is internationally renowned for its research in actuarial science and financial mathematics. All members of staff are active in research. The international links of the Centre are evident from the regular visits of leading academics and of overseas students. The Centre maintains strong links with the actuarial profession 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 Director of the Centre in 2008 was Professor David Dickson. He is replaced in 2009 by Professor Daniel Dufresne.

Centre for Global Innovation and Entrepreneurship (Incorporating the Euro-Australian Cooperation Centre) The Centre for Global Innovation and Entrepreneurship is located in the Department of Management and Marketing. 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 is concerned with research on global innovation management and entrepreneurship with a particular focus on Small to Medium Enterprises (SMEs). 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 program. The Centre has received several ARC grants and two DIISR grants under the International Linkages program, to undertake a collaborative research program with European partners funded under the EU 5th and 6th Framework Programs.


The Centre for Human Resource Management Established in 1999, and located within the Department of Management and Marketing, the Centre for Human Resource Management operates as a bridge between the academic and business communities. Its aim is to facilitate research on employment issues and disseminate research findings to impact practice and policy. The Centre’s members bring a broad range of disciplinary perspectives (from industrial relations, psychology, economics and sociology) and methodological expertise to bear upon contemporary human resource challenges. They regularly engage in collaborative work with industry partners to address problems of mutual interest. The key research focus is on human resource management (HRM) 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 HRM 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 Centre organises seminars, lecture series, and Business Forum events designed to promote research on HRM topics and develop the careers and skills of HRM researchers. On 20 August 2008 the Centre presented the 23rd Annual Foenander lecture. John Denton, Partner & Chief Executive Officer of leading Australian law firm, Corrs Chambers Westgarth, and one of the country’s most respected experts on labour law, highlighted the aspects of the Government’s proposed new workplace relations system “Forward with Fairness” that matter most to larger employers. The Director of the Centre is Associate Professor Michelle Brown.

The Centre for Macroeconomics Located within the Department of Economics, the Centre for Macroeconomics is a focal point for research and learning in macroeconomics at the University of Melbourne. Its members, staff and PhD students – drawn from the Department and the Melbourne Institute of Applied Economic

and Social Research (MIAESR – are concerned with the development of macroeconomic theory, macroeconometrics and macroeconomic policy. 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 objective of the Centre is to foster and promote high quality research, research training and teaching in macroeconomics by providing a focus for: Y The

development of research grant proposals for funding from ARC and other external sources

Y Collaboration

in joint research projects, with particular recognition of the advantages of joint research involving applications and the development or refinement of methodology

Y The involvement of national and international visitors Y Regular

workshops to discuss work in progress

Y Conferences

involving other researchers from within and outside Australia, including groups from industry and government departments

Y Attracting,

encouraging and involving PhD students working on macroeconomics

Y Running

short courses in macroeconomics.

The Centre welcomes collaborative arrangements with other institutions to develop funding opportunities for research and scholarly exchange in the area of macroeconomics. The Director of the Centre is Professor Ian King.

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.

Annual Report 2008 Outlook 2009 25


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 Centre held two one-day workshops in 2008. The presenters at the workshop on 16 July were Brett Inder (Monash University), Jan van Ours (Tilburg University & University of Melbourne), Richard Blundell (University College, London), Martin Browning (Oxford University), and Wolfgang Polasek (Institute for Advanced Studies, Vienna). At the workshop on 12 November the presenters were Jan van Ours (Tilburg University & University of Melbourne), Peter Sivey (MIAESR), Dean Hyslop (Department of Labour & Statistics, New Zealand), Ranjan Ray (Monash University), Harry Paarsch (University of Melbourne) and Liana Jacobi (University of Melbourne). In addition to the visitors for the one-day workshops, the following people visited the Centre to present seminars: Jeffrey Racine (McMaster University), Rob Fairlie (University of California, Santa Cruz), Carol Propper (University of Bristol), Tim Cason (Purdue University), Michelle Goeree (Claremont McKenna College), Nadya Baryshnikova (University of Adelaide), Cary Deck (University of Arkansas), David Prentice (LaTrobe University), Monika Büetler (Universität St. Gallen), Angela Lou (LaTrobe University), Seema Jayachandran (Stanford University), Mikal Skuterud (University of Waterloo), Ron Cheung (Florida State University), Mario Fiorini (University of Technology, Sydney), Elliott Fan (Australian National University), Juan Baron (Australian National University), Shiko Maruyama (University of New South Wales), David Laband (Auburn University), David Prentice (LaTrobe University), Peter Siminski (University of Wollongong), and John Asker (New York University). The Director of the Centre is Professor Bill Griffiths.

Economic Design Network The Economic Design Network is a partnership of more than 200 researchers and over 40 Australian and international universities and research centres. The Network supports cross disciplinary research and policy innovation using state-of-the-art techniques in economic theory and experimental economics. It will create practical 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. 26 Annual Report 2008 Outlook 2009

The Economic Design Network is funded by a five year ARC grant with additional funds contribution by some participating institutions. The main functions are to: and facilitate research and the application of research in economic design by members and participating institutions Y Maintain a web site and network bulletin board Y Support regular and occasional conferences Y Run an annual summer/winter school Y Support a network visitor program Y Provide professional training and support to policy makers Y Facilitate the development and application of experimental economics. Y Coordinate

The convenor of the Economic Design Network is Professor Peter Bardsley and the Network Manager is Kathryn Perez.

The Economic Theory Centre The Economic Theory Centre is jointly operated by the Department of Economics and the Melbourne Business School at the University of Melbourne. The Economic Theory Centre is grateful for the financial support given by the Economic Design Network towards their Economic Theory Workshops. The objectives of the Centre are to: Y Promote research of the highest standard in all areas of economic theory Y Be a focus within Australia for research in economic theory Y Facilitate both national and international affiliations and research linkages Y Facilitate the training of research students, and the exchange of doctoral and postdoctoral students Y Be a focus for external research funding Y Run conferences, workshops and advanced short courses for research students Y Publish occasional monographs and proceedings.

Foundation for Sustainable Economic Development The Operations Management area of the Department hosts the Foundation for Sustainable Economic Development (FSED). 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, including The Collaborative Games in 2001. A significant project has been on corporate sustainable development, funded by the Australian Business Foundation. The FSED’s latest project involves a significant multi-university ARC Linkage project on “Work and Social Cohesion”. The Director of the Centre is Professor Joshua Gans.

The Intellectual Property Research Institute of Australia The Intellectual Property Research Institute of Australia (IPRIA) was established in March 2002 as an initiative of IP Australia to increase the understanding, creation, use and exploitation of intellectual property by Australian organisations and individuals. The focus is to move understanding and engagement with intellectual property from a technical to a strategic consideration. Intellectual property in this context is broader than formal intellectual property rights and includes the management of knowledge, personnel and intangible assets. IPRIA is a collaborative research centre at the University of Melbourne with significant funding from IP Australia. The core faculties are Economics and Commerce, the Melbourne Law School and the Melbourne Business School. IPRIA’s objectives are to: Y Support and generate development of high-level public policy in relation to intellectual property issues Y Optimise the protection, management and exploitation of intellectual property by all Australian stakeholders, including research institutions, public and private sector interests Y Help create an informed environment for, and contribute to, on-going public debate in Australia about intellectual property issues and related matters, including innovation policy and economic growth. Associate Professor Elizabeth Webster is Director. Faculty members associated with IPRIA include Drs Paul Jensen, Alfons Palangkaraya, Nisvan Erkal, Russell Thomson; and Professors Danny Samson and William Griffiths. IPRIA has an Advisory Board drawn from the IP professions, industry, the wider University and government. Research and knowledge transfer are the two dominant activities of IPRIA staff, who generally produce over 40 working papers, publications, occasional papers, reports and submissions a year. In addition, in 2008-09 we hosted over 40 seminars, conferences, workshops and policy fora across Australia. We have active partnerships with interstate and international universities and national industry associations. Details can be found at www.ipria.org.

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 by four institutions – the University of Melbourne, the University of Sydney, King’s College at the University of London, and McGill University. It has since grown to include the following institutional partners: the University of Melbourne; the University of Sydney; Cardiff University; Lund University; McGill University; Queen Mary at the University of London; Texas A&M University; the University of California; the University of Cambridge; the University of Colorado; and the University of Leicester. The Centre links international researchers who share an interest in developing and applying discourse methods in the study of organizations with the aim of building a critical mass in research expertise, facilitating crossinstitutional research, providing a banner for new research initiatives, establishing contacts and support for doctoral students, and securing resources for workshops and other activities. ICRODSC’s objectives are to: Y Establish a leading group of world class scholars in organizational discourse in order to facilitate research on organizational discourse, strategy and change Y Encourage collaborative research projects among leading universities in the field of organizational discourse Y Disseminate research findings on discourse analysis and its applications through academic publications, seminars and conferences Y Facilitate research and teaching interchanges among scholars who work in this area Y Increase opportunities for researchers interested in discourse analysis to interact through specific initiatives, such as workshops and conferences Y Facilitate collaborative links regarding research and postgraduate training in the field of organizational discourse. The Centre holds regular workshops and exchanges that bring leading international scholars to Australia; it provides opportunities for academics and doctoral students to engage with institutional partners and its members have contributed to an ongoing stream of collaborative research on the role of discourse in organizations. In 2008 ICRODSC members co-convened the subtheme on Identity Work and Organization at the 24th European Group for Organization Studies Colloquium.

Annual Report 2008 Outlook 2009 27


ICRODSC was also co-sponsor of the 8th International Conference on Organizational Discourse: Translations, Transformations and Transgressions, London July 2008.

Melbourne Centre for Financial Studies The Melbourne Centre for Financial Studies (MCFS) is a partnership between the public and private sectors, and between industry and academe. It was launched with seed funding from the Victorian Government, in whose Financial Services Strategy it plays a central role. Consortium members include the University of Melbourne, Monash University, RMIT University and Finsia, who have joined together to enhance Melbourne’s national and international reputation for excellence in financial practice, research and education. MCFS facilitates knowledge transfer and builds research synergies between industry and academe by undertaking finance research, facilitating academic consulting, and organising research-focused conferences, workshops, public lectures and other educational activities. The Centre has been sponsored by AAMI, the Melbourne-based national insurer, since 2006. MCFS aims to be the conduit between industry and academia, which includes the generation of contract research work and funding for research (pure and applied) for associated academics at each of the consortium universities. To achieve its aims, MCFS: Y Organises

conferences and symposia

Y Organises

lunchtime workshops

Y Publicises

academic research via media exposure

Y Facilitates

academic internships within industry

Y Commissions Y Invites

research

visiting speakers

Y Initiates

research consulting projects for academics.

MCFS staff include Professor Kevin Davis (Director), David Michell (Business Development Manager) and John Fowler (Part Time Research Fellow). During 2008, Graham Cocks (Part Time Senior Consultant – Funds Management) retired while Patrick Zhang (Research Assistant) moved on to a career in accounting.

Events and highlights In 2008, MCFS developed, organised and hosted 25 Centre events while simultaneously promoting University events organised by the consortium members. In addition to eight major conferences and special events, MCFS organised eight “Finance Forums”, held four mixed academic and practitioner seminars/symposia, and hosted five stand-alone presentations by visiting international academics.

28 Annual Report 2008 Outlook 2009

Highlights include: Y Abacus-MCFS

Research Workshop on Financial Mutuals (Sydney)

Y Symposium

– “Financial Centres of the Future – What Role for Australia?“ supported by IFSA, AFMA, ABA and Finsia

Y AIST-MCFS

“Superannuation Board Governance Conference: Search for a Super Model”, 6 May 2008 (with academic research workshop)

Y Occasional

Seminar Series: Modern Finance – Insights from Academia: “Leadership, collective decision-making, and pension fund governance”, Gordon L Clark, Halford Mackinder Professor of Geography & Director, Oxford University Centre for the Environment

Y Inaugural

Finsia-MCFS Consumer Finance, Investment and Regulatory Symposium and academic research workshop

Y The

14th Melbourne Money and Finance Conference with the theme “Recent Developments in Australian Debt Markets”. Selected conference papers have been published in JASSA -– The Finsia Journal of Applied Finance.

Y The

14th Finsia-MCFS Banking and Finance Conference “Risks, Governance and Regulation in a Transforming Financial World“ held in September 2008 on campus at the University.

The penultimate event for 2008 was the third MCFS International Distinguished Lecture delivered by John Fraser, Chairman and CEO of UBS Global Asset Management and former Deputy Secretary of the Commonwealth Treasury. The guest list of 250 included some of the most senior finance, corporate and academic leaders in Australia. Mr Fraser presented a lecture titled “A Tumultuous Year or so – Some Observations on the Turmoil in the Financial Markets, Policy Settings and Regulatory Implications” – a particularly topical subject given the financial sector developments of 2008. The event was sponsored by KPMG. The year ended with 300 people attending the MCFS-organised Future Fund Industry Briefing at the Melbourne Town Hall with Future Fund speakers General Manager Paul Costello and Chief Investment Officer David Neal. The event was chaired by MCFS Industry Advisory Committee Chairman Bob Officer.

Focus on research MCFS research activities focus on three key areas: Y Funds Management Y Financial Services Regulation and Policy Y New Markets and Financial Instruments.


Priority for funding research projects is given to research which fits into at least one of these three areas. MCFS funds academic research in other finance topics, but it is committed to building research capability in Melbourne in the defined key research areas. Since its inception in July 2005, MCFS has directly funded or approved for funding, 52 research proposals to conduct advanced financial research in these (and other) important research areas. Via MCFS research workshops many more academics have benefited from the opportunity to test new research with practitioners and with fellow academics. MCFS has also developed a model where research and travel costs are funded out of the proceeds of some events e.g. the Superannuation Governance conference with AIST.

Consulting for Melbourne While retaining capacity to do targeted work, MCFS now acts primarily as a facilitator of academic consulting and contracted research. MCFS assists academics in meeting industry partners with research needs, funding capacity and data. The MCFS role is to assist shaping the work to ensure relevance to the commissioning organisation and where possible to ensure public domain application of the work. For 2009, MCFS again has an ambitious program of research-based conferences and events. A number of these are joint activities with industry associations and regulators. The ongoing challenge for MCFS is to deepen its partnerships and secure additional corporate funding. More information on the Melbourne Centre for Financial Studies can be found on MCFS website: www.melbournecentre.com.au.

The Melbourne Centre for International Business The Centre began in 1998 as the Australian Centre for International Business, a collaborative venture between the University of Melbourne and the University of New South Wales. During the Centre’s early years a number of business reports and a major project on diversity in the workplace were produced. From 2003 the management of the Centre reverted to the University of Melbourne. In 2007 the name was changed to the Melbourne Centre of International Business and it continues to deliver leading edge international business research. The MCIB seeks to conduct ground breaking research in international business, to educate future leaders in international business and to consult with business and government on matters of policy. The Centre is eclectic in its interdisciplinary areas but has particular expertise in international business strategy and

management, international/cross-cultural human resource management, international business ethics, and business and economic history. A major initiative realised early in 2007 was the publication of Dick & Merrett (eds), The Internationalisation Strategies of Small-Country Firms: The Australian Experience of Globalisation (Elgar, Cheltenham, UK). Members of the Melbourne Centre for International Business have also published over 20 books and 200 research papers, conference proceedings, chapters in books and consulting reports spanning all fields of international business research. New and past M/ACIB working papers are published at www. managementmarketing.unimelb.edu.au/mcib/. MCIB is represented at the Academy of International Business (AIB)/ANZIBA, PACIBER and AUSPECC. It also hosts the editorship of the Southeast Asia Publications Series of the Asian Studies Association of Australia (Howard Dick). The director of the Centre is Professor David Merrett.

Knowledge Transfer examples Knowledge Transfer recognises the two-way flow and uptake of ideas between the University of Melbourne and the broader community. The role of universities is changing. They are no longer exclusive knowledge habitats; they are now access points. In this climate, it is imperative that they develop strong bilateral relationships with government, business and the community and become increasingly visible, relevant and accessible to society’s changing needs. To meet this challenge, the University has implemented its Growing Esteem strategy, which identifies three core elements within its Triple Helix metaphor. The third strand of the Helix is Knowledge Transfer. The Faculty is engaged in Knowledge Transfer through our ongoing research collaborations with industry, government and the not-for-profit sector. These relationships underpin our position as a leading Economics and Commerce Faculty in the region and one of the best in the world. Students are encouraged throughout their degrees to become involved in Knowledge Transfer through internships, student exchange and participation in voluntary activities. The Faculty publishes the journal Insights, which is a collection of condensed and edited public lectures presented in a language and format accessible to the wider public; hosts the Alumni Refresher Lecture Series; and publishes a bi-yearly newsletter KnowledgeTransfer.

Annual Report 2008 Outlook 2009 29


In 2008, the Faculty engaged in the following Knowledge Transfer activities: Y Dr

Rhonda Smith (Economics) spent two months working in Papua New Guinea on an aid program sponsored by the Asian Development Bank (ADB)

Y The

Melbourne Institute (MIAESR) held the Economic and Social Outlook Conference on how to develop and implement a ‘New Agenda for Prosperity’

Y Dr

Prakash Singh (Department of Management and Marketing) and Dr Martin Davies (Teaching and Learning Unit) ran the first of several Case Study Workshops for the lawyers of the Women’s Legal Service Victoria (WLSV)

Y Minimising Commodity Trading Speculation during

Turbulent Market Conditions – Professor Paul Kofman (Department of Finance) investigated natural gas derivatives trading during the hurricane season in the USA in 2006, and compared the efficiency and price discovery contribution of online and floor-based trading systems

Y The

Australian Government awarded the contract to manage the Household, Income and Labour Dynamics in Australia (HILDA) Survey for another four years to the MIAESR

Y Publish or Perish, a software program that retrieves

and analyses academic citations, was devised and released by Professor Anne-Wil Harzing (Department of Management and Marketing)

Y Dr

Les Coleman was appointed to the Board of Australian Ethical Investment Ltd, a funds manager specialising in ethical funds management

Y Dr

Jennifer Frahm was selected to serve on the Asia Pacific Regional Council of the International Association of Business Communicators (IABC)

Y Associate

Professor Asjeet Lamba (Department of Finance) was selected to serve on the Disciplinary Review Committee of the CFA

Y A

Memorandum of Understanding was signed between the Global Standards Organization (GS1) and the Department of Management and Marketing. GS1 is the leading player in the development and administration of global standards (Barcodes, EDI, RFID etc.) enabling improved visibility and efficiency in supply chain operations

30 Annual Report 2008 Outlook 2009

The winning Undergraduate Case Competition Team, with Dr Elison Lim (third from left). Y From

the boardroom to the classroom and back, a program of successful engagement with senior executives in the financial sector, was conducted

Y The

Department of Finance presented its annual Corporate Finance in Action 2008 Seminar Series in May

Y In

February, students participated in an inaugural two-week work placement program in Bangkok, Thailand, designed to provide them with experience of international work practices and access to a global network of contacts. Students were accompanied by Dr Danielle Chmielewski (Department of Management and Marketing). The program was repeated in July with a trip to Kuala, Lumpur, Malaysia, with Dr Andre Sammartino (Department of Management and Marketing).

Y Dr

Elison Lim (Department of Management and Marketing), with Procter & Gamble Australia, created a case competition for students enrolled in the marketing elective Customer Behaviour. Students were challenged to style a solution to address specific existing concerns facing the Hair Care Marketing Team at P&G.

Y In

the Principles of Marketing subject, a case-based challenge allowed students to apply concepts from the classroom in helping solve weekly issues for Family Mail House (FMH).

Y Entrepreneurs

Week 2008 (modelled on a similar event at Stanford University), was an initiative of Student Entrepreneurs, sponsored by the Melbourne GSM and other public and private sector sponsors. The event aimed to raise awareness of the significance of, and pathways to, innovation and entrepreneurship in the 21st century.

More information on these and other Knowledge Transfer activities can be found at: www.ecom. unimelb.edu.au/faculty/knowledge_transfer.html and in the online version of Insights: http://insights.unimelb.edu.au


Engagement with Alumni The Faculty of Economics and Commerce substantially increased its engagement with alumni throughout 2008 via a range of activities. With more than 36,000 alumni who live and work in 92 countries around the world, the Faculty is constantly looking for new and exciting methods of staying connected. Many alumni have contributed in some way to the success of the Faculty in 2008 – by advising on the development of new programs, engaging with students through business practicum subjects in Australia and overseas, providing work and internship opportunities, mentoring, speaking at functions and attending lectures. The alumni office coordinated 18 alumni events in 2008, which was more than double the number held in 2007. Many of these events were coordinated with the dedicated help of the UMCAS committee. Events were held in Melbourne and a range of international cities, and included networking events, reunion dinners and refresher lectures. The Faculty’s alumni network makes connections to the business community accessible not only in Melbourne but all over the world.

University of Melbourne Commerce Alumni Society The University of Melbourne Commerce Alumni Society (UMCAS) had another active and successful year. UMCAS President Ross Cameron (BCom 1988) and Vice President Chris Leptos (BCom 1980) both agreed to continue in their roles and were re-elected in July 2008. After 16 years on the UMCAS committee, one of our most dedicated members, John Meehan, stepped down at the 2008 AGM. John has been a tireless worker for UMCAS since 1992 and his energy will be missed.

Engagement – Melbourne Alumni events Turning 1000 into 2020: An evening with the Vice-Chancellor, Professor Glyn Davis On 27 May the Dean, Professor Margaret Abernethy, and UMCAS President, Mr Ross Cameron, hosted a presentation by the Vice-Chancellor, Professor Glyn Davis. It was an opportunity for the Vice-Chancellor to share his views on the 2020 Summit, which he co-chaired with Prime Minister Kevin Rudd in April. Among the group of guests were alumni Professor Margaret Jackson and Mr Frederick Grimwade, who both participated in the 2020 Summit. Thanks go to event sponsor Ernst & Young.

Ross Cameron, UMCAS President; Margaret Abernethy, Dean; Janine Kirk, Lead Partner, Ernst & Young; Chris Leptos, Managing Partner, Ernst & Young and UMCAS Vice-President

Young Alumni event at Koko Black On 11 June, Koko Black founder Mr Shane Hills welcomed 60 alumni to the Collins Street branch of his chocolate empire for a “Meet the Entrepreneur” event. Mr Hills presented a background on building his company and brand name into the success that it is today. Thanks go to Mr Hills of Koko Black and co-sponsor RSM Bird Cameron.

2008 UMCAS reunion dinner More than 220 alumni and friends spanning 66 years of graduation gathered at Ormond College on 17 July for the annual reunion dinner. The Dean, Professor Margaret Abernethy, gave a heartfelt address, followed by a topical speech from Dr Peter Yates.

Dr Peter Yates addresses guests at the 2008 reunion dinner

Annual Report 2008 Outlook 2009 31


Actuarial Alumni Group launch The University of Melbourne Actuarial Alumni Group (UMAA) was officially launched on 24 July. The launch was sponsored by Deloitte and was attended by over 70 alumni from across various years.

MBIT five-year alumni reunion On Friday 7 November graduates of the Master of Business and IT (MBIT) program joined current MBIT students at Crown Casino. The program director, Associate Professor Michael Davern, and the Dean, Professor Margaret Abernethy, jointly hosted the event.

Professor David Dickson addressing actuarial alumni

40+ reunion luncheon Nearly 60 of the Faculty’s most senior alumni met at University House on 15 October. The Dean discussed the latest developments in the Faculty, and Professor Ross Williams, a previous Dean of the Faculty, also spoke.

MBIT alumni enjoying a drink at Crown; A/Professor Michael Davern with some of his former MBIT students

A Night of 1000 Stars The Bachelor of Commerce Graduation Celebration was held at Crown Palladium on 28 November. The party was for both students and staff to celebrate their success in completing the BCom and BCom (Hons) programs, and to welcome the newest alumni to the Faculty.

Dean’s Christmas lunch, Bluestone Restaurant For the past three years the Dean has held a Christmas lunch to thank donors and friends of the Faculty for their support over the past year. This year the guest list included 80 members of our various Advisory Boards and Committees, corporate sponsors, speakers at 2008 events, donors to the Faculty, mentors, and scholarship and prize sponsors.

International events Mr Paul Berger (BCom 1957) and Mr William Davey (BCom 1949) at the UMCAS 40+ reunion luncheon

Young Alumni event with Mr Gareth Edgecombe On 30 October, KPMG hosted 80 alumni at their Collins Street offices. The president of Coca-Cola South Pacific, Mr Gareth Edgecombe, talked about Coca-Cola’s business practices, their marketing strategy and the relaunch of Mother Energy drink. Thanks to Mr Edgecombe, Mr Stephen Carpenter and KPMG for their support.

We continued to expand our international alumni reach in 2008 with functions held in Malaysia, Hong Kong, China, India, Indonesia, Singapore, Brazil, New York and Mexico.

Latin America alumni dinners In June 2008 Rocio Kariban, International Marketing Manager, hosted a range of small alumni dinners in Latin America.

Alumni event in Mexico City, Hotel Camino Real, June 18. Includes Ebi Junaidi, Indonesian alumnus working in Mexico

32 Annual Report 2008 Outlook 2009


China and South Korean alumni receptions In October 2008, the University of Melbourne held a range of alumni functions in Beijing, Shanghai and Seoul. Professor Greg Whitwell and Ms Fiona Abud represented the Faculty at these events. Sixty-six Economics and Commerce alumni attended the Beijing function, and 55 came to Shanghai.

From left to right: Zhang Xiobo, Jia Li, Prof Greg Whitwell, Qi Yanqi, Feng Ping

Kuala Lumpur dinner and alumni reception On 27 November the Dean, Professor Margaret Abernethy, attended a small dinner for 40 alumni and special guests at the home of alumnus Dato Mustapa bin Mohamed, Malaysia’s then Minister for Higher Education (currently the Minister of International Trade and Industry). The Faculty also held a reception at the home of an alumna, Ms Gloria Goh. Professor Nilss Olekalns was accompanied by Advisory Board member and Malaysian alumnus Mr Kevin Wong at the event.

Vale It was with deep sadness that we learnt of the passing of Professor Emerita Joan Rydon, a close, life-long friend and supporter of the Faculty, and a distinguished Australian political scientist. Professor Rydon was the first woman to be appointed to a Chair in Politics in Australia (La Trobe University, 1975) and held this position until her retirement. Her husband, the late Professor Charles Samuel (Sam) Soper, was a first-class honours graduate of the Faculty of Economics and Commerce and returned to a Readership in 1962. In 1970 he was appointed to a Chair in Economics, which he held until his retirement in 1980. He was Dean of the Faculty of Economics and Commerce from 1974–1975. Professor Rydon established the CS Soper Scholarship in memory of her husband after his passing. The scholarship has been of great benefit to many students over the years, and has been awarded to students entering the Bachelor of Commerce (Honours) intending to specialise in Economics.

Hong Kong dinner and alumni reception Professor Greg Whitwell, Associate Dean (Academic Programs), travelled to Hong Kong in December to host a small dinner at the Happy Valley Jockey Club. A larger alumni reception was later held at QUBE bar, attended by 50 alumni.

Professor Joan Rydon with the 2001 CS Soper Scholarship recipient, Matthew Claughton

Prof Greg Whitwell talks to alumni over dinner

Annual Report 2008 Outlook 2009 33


Prominent graduates Graduates of the Faculty over the last 77 years have been leaders in business, public policy and academia. Below is a list of current prominent alumni. Business Mr Ross Adler, Chairman & CEO, Amtrade International Pty Ltd Ms Elizabeth Alexander (AM), Chairperson, CSL Limited Dr Yahya Al Jabr, Deputy Secretary General, Saudi Organization for Certified Public Accountants (SOCPA) Mr John D. Balmford, Consultant, Ernst & Young Mr Ken Barelli, former Managing Director, Pioneer Electronics Australia Pty Ltd

Mr Tim Colebatch, Canberra Economics Editor, The Age Mr William Conn (OAM), Consultant, Merril Lynch Mr Laurence Cox (AO), Executive Director, Macquarie Bank Limited Mr Timothy Cox, Partner, PricewaterhouseCoopers Mr David Crawford, Allens Arthur Robinson Mr Gerard J Dalbosco, Oceania Managing Partner, Transaction Advisory Services, Ernst & Young

Mr Peter Barnes, Director, Ansell Limited

Mr Matthew Davey, Chief Executive Officer, Virgin Mobile (Australia) Pty Ltd

Mr Paul Bassatt, Joint CEO and Co-Founder, Seek Ltd

Mr Craig Dunn, Chief Executive Officer, AMP Limited

Mr Philip Brass, Non-Executive Director, Globe International

Mr Thomas Elliott, Director, M M & E Capital, Pty Ltd

Mr Anthony Burgess, Director, Diversified United Investments Ltd

Ms Gloria Goh, Partner, Ernst & Young, Malaysia

Mr Terrence Arthur Campbell, Executive Chairman, Goldman Sachs JB Were Pty Ltd

Mr Charles Goode (AC), Chairman, ANZ Bank

Ms Sally Capp, Chief Executive Officer, Committee for Melbourne Mr Colin B. Carter (OAM), Senior Adviser, The Boston Consulting Group Pty Ltd Mr Alan J. Castleman, Chairman, Australian Unity Mr Robert Champion De Crespigny (AC), Chairman, Mineral Securities Mr Dick Chan, Executive Chairman, Anglo Eastern Plantation PLC, UK Mr Guan Seng Chan, Managing Director, J F Apex Securities Bhd, Malaysia Mr Mark Chiba, Chairman, Longreach Group

34 Annual Report 2008 Outlook 2009

Mr Ben Gray, Head of Australia and New Zealand, Newbridge Capital Mr Peter Gunn, Managing Director, PGA Group Mr Richard Hong, Director, BETA Software Technologies Mr Brian F Horwood, Chairman, Oil Search Ltd Ms Merran Kelsall, Director, Melbourne Water Corporation Mr Russell Kennett, Managing Director, State Street Bank and Trust Company Mr David Kingston, Principal, K Capital Group Mr Robert G. Kirby, Chairman, Village Roadshow Corporation Ltd

Mr Chris Leptos (AM), Managing Partner, Government Services, Ernst & Young Mr Leon L’Huillier, Director, Woolworths Group Mr Alwyn Lim, Principal, Alwyn Lim & Co Mr Alastair Lucas, Vice-Chairman and Managing Director, Goldman Sachs JB Were Ms Sally Macdonald, Managing Director, Oroton Group Dr Ian J. Macfarlane (AC), Director, Woolworths Ltd and former Chairman, Reserve Bank of Australia Mr Geoffrey Manchester, Chief Executive Officer, Intrepid Travel Ms Michelle E. McLean, CEO, Cornwall Stodart Lawyers Mr Hugh Morgan (AC), Principal, First Charnock Mr Valentine C. Morgan, Managing Director, VC Morgan Investments Pty Ltd Mr Rupert Myer (AM), Chairman, Myer Family Company Pty Ltd Mr Andrew Raftis, Senior Vice President of Internal Audit, AXA Financial Inc Mr Tjahaja Riady, Deputy Chief Executive Officer, Lippo Karawaci Mr Paul Rizzo, Non-Executive Director, Bluescope Steel Mr Irvin Rockman (CBE), Chairman, Northrock Group Mr Peter Scanlon, Founder, Scanlon Foundation Mr Anthony Shepherd, Chairman, Transfield Pty Ltd Ms Naomi Simson, Founder and CEO, RedBalloon Days


Mr Asgari Stephens, Principal, Intelligent Capital Sdn Bhd Mr James Sutherland, Chief Executive Officer, Cricket Australia Dato Toh H. Tan, Chairman, Gimo Holdings Sdn Bhd, Malaysia Mr Christopher Thomas, Managing Partner, Egon Zehnder International SA Mr Evan W. Thornley, Managing Director, Pluto Press Australia Mr Richard Tsiang, Senior Vice President, Chief Financial Officer, MGM Grand Paradise Limited

Professor Carrick Martin, Chairman, Professional Standards Board for Patent and Trade Marks Attorneys, IP Australia Dato Mustapa bin Mohamed, Minister of International Trade and Industry, Prime Minister’s Department, Malaysia Mrs Brenda Shanahan, Chairperson, St Vincent’s Health The Hon. Tony Smith, Shadow Assistant Treasurer, House of Representatives

Mr Darryl Wade, Director and Co-Founder, Intrepid Travel

Senator Mechai Viravaidya (AO), Founder and Chairman, Population and Community Development Association, Thailand

Mr Kevin Wale, President and Managing Director, General Motors China Group

Mr Ian Watson, Senior Deputy President, Australian Industrial Relations Commission

Mr Freeman Wang, Managing Director, Hong Kong Oriental Resources Investment Ltd

Dr Lynne Williams, Deputy Secretary, Economic and Financial Policy Division, Department of Treasury and Finance

Mr Brian Watson, Executive Chairman, Georgica Associates Pty Ltd The Hon Mr David White, Director, Hawker Britton, Melbourne Mr Kevin Wong, Chairman, JP Morgan Chase Bank Bhd, Malaysia Dr Peter Yates, Director, Allco Equity Partners

Public Service The Hon John Brumby, Premier of Victoria, Department of the Premier Mr Michael Carmody (AO), Chief Executive Officer, Australian Customs Service

Emeritus Professor Ross Williams, Professorial Fellow MIAESR, University of Melbourne; Member, Commonwealth Grants Commission, Australian Government, Higher Education

Education Professor Max Corden (AC), Professorial Fellow, Department of Economics Professor Jayne Godfrey, Deputy Dean – Research, Faculty of Business and Economics, Monash

Professor Robert Gregory (AO), Head, Economics Program, Australian National University Emeritus Professor Geoffrey Harcourt, Jesus College, Cambridge University The Hon Emeritus Professor Joe Isaac (AO), Department of Management and Marketing, The University of Melbourne Professor Stewart Leech, Head of Department of Accounting and Information Systems, University of Melbourne Dr Fred McDougall, Deputy Vice-Chancellor (Academic), University of Adelaide Professor Gary Sampson, Visiting Professor, INSEAD Professor Richard Southby, Executive Dean and Distinguished Professor of Global Health, George Washington University

Australia Day Honours 2009 Dr Ronald B Cullen (AO), for service to public administration in Victoria through the development of innovative management practices and organisational change. Mr Ian B Samuel (OAM), for service to the community, particularly through the promotion of tolerance and social justice. Dr Donald A Sinclair (OAM), for service to the community, particularly through the Ryder-Cheshire Foundation, to education and to a range of professional associations.

His Excellency Mr Jeffrey Hart, High Commissioner, Australian High Commission (Nigeria) The Hon Senator Rod Kemp, Senator for Victoria, Senate The Hon Jenny Macklin, Minister for Family, Housing, Community Services and Indigenous Affairs, House of Representatives

Dean of the Faculty, Professor Margaret Abernethy with Hon Emeritus Professor Joe Isaac at the unveiling of his portrait.

Annual Report 2008 Outlook 2009 35


Internationalisation During 2008 the Faculty maintained its record of strong international applications and enrolments drawn from around the world. There were more than 3,000 international students studying across the complete range of programs and 70 nationalities represented among our student body. At the same time, we maintained our strong global network of partner institutions and expanded the number and scope of our links with top universities, especially those with key strengths in Economics and Commerce disciplines. This robust partnership network enabled the Faculty to continue to attract high profile academic visitors from around the world. Diversity remains a key priority in our international recruiting, and the annual marketing calendar seeks to include not only a significant presence in major markets such as China and India, but also activity in less prominent markets such as Europe and Latin America. The Faculty’s scholarship program seeks to provide study opportunities for excellent students from around the world, as well as targeting top students from selected partner institutions. Some of our internationalisation highlights in 2008 included: Y Negotiation

of exchanged links with the Ecole Centrale Business School in Paris, and the CERAM Business School in Nice, France

Y Entry

into an exchange agreement with the ESADE Business School in Barcelona, Spain

Y Further

exploration of potential dual degree links in South Asia, with institutions such as the Indian Institute of Management, Calcutta

Y Implementation

of a multimedia strategy to communicate the Faculty’s more robust admission criteria to international agents, prospective students and other stakeholders globally

Y Initial

exploration of the Faculty’s participation in a potential European-Australian student mobility project consortium involving; HEC Paris; Universita Luigi Bocconi, Milan; ESADE; and the University of New South Wales

Y An

agreement with the Guanghua School of Management, Peking University to provide Melbourne students the opportunity to participate in a short program “Doing Business in China” for their Global Mobility experience.

36 Annual Report 2008 Outlook 2009

International alumni We continued to expand our international alumni reach in 2008 with functions held in Malaysia, Hong Kong, China, India, Indonesia, Singapore, Brazil, New York and Mexico.

Study abroad and exchange opportunities An important part of the Faculty’s and University’s internationalisation agenda is ensuring that our students have a genuinely international experience, both through the international diversity of our cohort and through the opportunity to study at our partner institutions overseas. The Faculty welcomed over 200 students from study abroad and exchange partners in 2008. Additionally, three of our students went on exchange to France, Norway and the UK. In 2009 we will have 15 students going on exchange.

Global Mobility at Melbourne GSM In 2008, the Melbourne GSM organised two pilot Global Mobility Programs (Bangkok in February and Kuala Lumpur in July). Twenty high achieving Masters Students from across the Melbourne GSM successfully completed the programs. The 14-day programs included a nine-day project with a locally based company, an introductory lecture series at an exchange partner university (Thammasat University and the University of Malaya) and a cultural sightseeing component. The programs were designed to enhance students’ understanding of the globalised economy as well as boost their professional career opportunities via an in-country study experience.

“My placement in Singapore will add breadth to my university degree and work, giving me greater exposure to a constantly changing international business environment. These are desirable experiences to influence potential employers.” Angus Middleton, Master of International Business Global Business Practicum Singapore, February 2009


“The Global Mobility Program has improved my ability to adapt to new business and cultural situations and has enhanced my understanding of the Malaysian business world. I think that these acquired capabilities are very valuable for my future career”. Nikolaus Schaefer, Master of Accounting Malaysia Global Mobility Program 2008

New Global Business Practicum Following the success of the pilot Global Mobility programs, a new Global Business Practicum subject has been developed by the Melbourne GSM and the Department of Management and Marketing. It will run as an intensive for-credit subject in Summer and Winter Semesters. Destinations for 2009 are Singapore, Bangkok, Kuala Lumpur and Beijing. Demand for the Summer Practicum was high and 42 students have been selected to participate (25 to Singapore and 17 to Bangkok). We expect there to be a lot of interest in the winter programs. Global Business Practicum students work as a team of consultants. The consulting projects are genuine business challenges and the Practicum offers our students exposure to real business scenarios that demand analysis and solutions drawn from the full breadth of business knowledge acquired through their studies.

Companies signed up to the Practicum include KPMG and Mercer in Singapore; PricewaterhouseCoopers and Prudential in Bangkok; and GHD Engineering and Talent 2 in Kuala Lumpur. Feedback from companies involved in the pilot program in 2008 was very positive. Comments included:

“The DKLS Board of Directors were particularly impressed with the sound professionalism, diligence and excellent discipline of the interns.” DKLS

“As management students they were able to grasp and understand the engineering industry very well and offer independent ideas and suggestions for improvement in our business practices. The students were enthusiastic and committed to producing results. They were friendly and courteous with very positive attitudes.” GHD Engineering

Annual Report 2008 Outlook 2009 37


Exchange Partner Institutions The University currently has exchange programs with the institutions in the following list. Students from these institutions can apply to study with the Faculty and our current students can also apply to study at these institutions. Students of institutions not listed are also invited to apply for the Study Abroad program within the Faculty. Austria University of Music and Dramatic Arts, Graz University of Vienna Belgium Catholic University of Leuven Brazil University of São Paulo* Canada Emily Carr Institute McGill University (U21) University of British Columbia (U21) University of New Brunswick University of Toronto Chile Adolfo Ibañez University Pontifical Catholic University University of Chile China Beijing Film Academy Fudan University (U21) Guanghua School of Management, Peking University Nanjing University Nanjing Agricultural University* Peking University Shantou University Tianjin Fine Arts Academy Tsinghua University University of Hong Kong (U21) The University of Nottingham Ningbo, China (U21) University of Science and Technology of China Czech Republic Charles University Denmark Aalborg University University of Copenhagen Estonia University of Tartu

38 Annual Report 2008 Outlook 2009

Finland School of Motion Picture, Television and Production Design, University of Art and Design Helsinki Sibelius Academy University of Helsinki University of Oulu France Grenoble Institute of Technology (Grenoble INP Group) HEC School of Management Institute of Political Studies, Paris (Sciences Po) Jean Moulin University – Lyon III Lumière University – Lyon II National College of Agronomy, Toulouse (ENSAT) National School of Higher Studies of Architecture and Landscape Architecture, Bordeaux National Veterinary College of Toulouse (ENVT) Panthéon-Assas University – Paris II Paris Diderot University – Paris VII Universities of Bordeaux: – Bordeaux I – Bordeaux II Victor Segalen – Bordeaux III Michel de Montaigne – Bordeaux IV Montesquieu Germany Academy of Fine Arts Mainz Albert Ludwigs University of Freiburg Free University of Berlin Humboldt University Rupert Charles University of Heidelberg Technical University of Berlin Technical University of Munich University of Bielefeld University of Münster University of Stuttgart

India Indian Institute of Science Indonesia Australian Consortium for ‘In-Country’ Indonesian Studies (ACICIS) Gadjah Mada University Muhammadiyah Malang University Ireland Trinity College Dublin University College, Dublin (U21) Israel The Hebrew University of Jerusalem Sam Spiegel Film and Television School Technion – Israel Institute of Technology Italy Ca’ Foscari University of Venice ‘Luigi Bocconi’ University of Commerce LUISS University School of Higher Studies (SNS), Pisa University of Bari University of Bologna University of Siena University of Trento University of Trieste Japan Doshisha University Gakushuin Women’s College Hitotsubashi University Japan Women’s University Kanazawa Institute of Technology* Keio University Kyoto University Ritsumeikan University Sophia University Tokyo Institute of Technology University of Tokyo Waseda University


Korea (South) Korea Advanced Institute of Science and Technology (KAIST) Korea University (U21) Pohang University of Science and Technology (POSTECH) Seoul National University Latvia University of Latvia Lithuania Vilnius University Malaysia University of Malaya Mexico Institute of Technology and Higher Education of Monterrey – Tec de Monterrey (U21) – Cuidad de México – Cuernavaca – Estado de México – Guadalajara – Mazatlán – Monterrey – Querétaro – San Luis Potosi – Toluca The Netherlands Erasmus University of Rotterdam (School of Management) Leiden University Technical University of Delft University of Amsterdam University of Utrecht* New Zealand University of Auckland (U21) Norway NHH – Norwegian School of Economics and Business Administration University of Oslo Singapore Nanyang Technological University National University of Singapore (U21) South Africa University of Cape Town

Spain ESADE Business School, Ramon Llull University University of Granada University of Salamanca Sweden KTH – Royal Institute of Technology Lund University (U21) Malmö University SLU – Swedish University of Agricultural Science Uppsala University Taiwan National University of Taiwan Thailand Chulalongkorn University Kasetsart University Thammasat University United Kingdom Edinburgh College of Art Glasgow School of Art Goldsmiths’ College, University of London* Heriot-Watt University Imperial College London King’s College, University of London Lancaster University Queen Mary, University of London Royal Holloway, University of London Royal Northern College of Music Bartlett School of Planning, University College, London University College, London University of Bristol University of East Anglia University of Edinburgh (U21) incl. Edinburgh Business School University of Glasgow (U21) University of Manchester incl. Manchester Business School University of Nottingham (U21) USA Boston College California Polytechnic State University Carnegie Mellon University

Chicago College of Performing Arts Cornell University (College of Agriculture and Life Sciences) Duke University Georgetown University Haverford College Massachusetts College of Art New York University (Stern School of Business) Pacific Northwest College of Art Pennsylvania State University University of California: – Berkeley – Davis – Irvine – Los Angeles – Riverside – San Diego – Santa Barbara – Santa Cruz University of Illinois at Urbana-Champaign University of Michigan University of North Carolina at Chapel Hill University of Pennsylvania University of Southern California (Marshall School of Business) University of Texas at Austin University of Virginia (U21) University of Washington Virginia Polytechnic Institute Washington University in St Louis (Olin School of Business) *These agreements are restricted to graduate research mobility opportunities only. Students interested in visiting these institutions should contact the institution directly. (U21) denotes a Universitas 21 partner Note: As this list is regularly updated you should check the partner list on the Melbourne Global Mobility website for the most current information. See: www.mobility.unimelb.edu.au/ goabroad/partners.html

Annual Report 2008 Outlook 2009 39


Engagement with Business and Community Faculty members contribute to professional and public debate through a range of conferences, lectures, short courses and articles in the print media. In turn, representatives of the business community, government and non-profit bodies provide 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 are listed below. Economics and Commerce Career Mentoring Program

Industry links Faculty Advisory Board In 2008 the Faculty Advisory Board, chaired by Mr Peter Yates, welcomed two new alumni: Mr Rupert Myer and Mr Anthony Burgess. Mr Myer and Mr Burgess are both BCom (Hons) alumni. Mr Myer is Chairman of the Myer Family Co. Ltd, Director of the Myer Family Office Ltd and a Director of the publicly listed investment companies Diversified United Investment (DUI) Ltd and AMCIL Ltd. Until recently, Mr Burgess was Head of Mergers and Acquisitions (Europe) at Deutsche Bank in London.

Industry sponsors The Faculty is grateful to the following sponsors for their continued support through generous contributions to student prizes:

Being part of the Economics and Commerce Career Mentoring Program was a significant step towards success for 65 selected graduate students who were matched with industry mentors according to their degree specialisation and interest. In 2008 mentors came from a very wide range of professional fields from the private and public sectors alike, many of them University of Melbourne alumni. These mentors formed part of successful mentor-mentee relationships that enabled students to gain insights into specific industries and begin to develop personal and professional networks. Mentors came to the ten-month program from large, medium and small organisations including Deloitte, Telstra, KPMG, AAMI, JP Morgan Chase Bank Berhad, Halstead Financial Services, ANZ, Department of Human Services Victoria, Synergy Plus, CSIRO, Transurban, Cubit Media Research, IBM, Telstra, NAB, The LiTMUS Group and CCMP Capital.

ANZ

Deutsche Bank

Australian Finance Conference

Economic Society of Australia

Aviva Australia

Ernst & Young

Internship Program

Bain and Company

Finsia

Booz Allen Hamilton

Institute of Actuaries Australia

A number of students from the Melbourne Graduate School of Management participated in course related work experience in 2008. The Graduate Careers Centre’s internship program has enabled students to apply the knowledge they have developed through their studies to benefit an organisation.

Citigroup Australia Commercial Travellers’ Association

KPMG Oracle Corporation

CommInsure

Protiviti

CPA Australia

Sothertons

DDB Melbourne

Taxpayers Australia Inc

Deloitte Australia

Taylor Fry

Deloitte Actuaries & Consulting

Tillinghast

Department of Education, Employment & Workplace Relations

UBS

40 Annual Report 2008 Outlook 2009

Feedback from employers has been exceedingly positive. Employers have been impressed by the students’ professionalism and their ability to apply the concepts they have learned at university to their work. Organisations that have provided internship opportunities in 2008 include Palgrave MacMillan, VERNet, Negotiaction, CharterMason, the Brotherhood of St Laurence and the Red Cross.

Management Practicum The Department of Management and Marketing has had much positive feedback about its third-year Management Practicum subject, where students are teamed into groups and assigned to a Practicum Organisation. In 2008, students undertook placements at a range of business and government organisations, where they had the opportunity to explore a hostspecified business project of strategic importance,


and produce and present a report proposing recommendations. The participating organisations identify the scope, opportunities and constraints of the project, and students learn to work with unstructured and incomplete information, and develop essential planning, research, and teamwork skills. There are a limited number of places in this subject, and students are selected on the basis of academic merit. Students have worked with major companies like BHP Billiton, the Coles Group, Telstra, Australia Post, Victorian government departments like the Departments of Innovation, Industry and Regional Development, Treasury and Finance, Victoria Police and the Committee for Melbourne, as well as smaller manufacturers and financial services companies.

Town and Gown On 11 June, in Walter Burley Griffin’s unique Newman College Dining Hall, more than 250 staff, including deans, researchers and senior executives, joined business, government, industry and philanthropic foundation leaders from across the city and many parts of Australia. The Dean, Professor Margaret Abernethy, delivered the Toast to the Town titled “Making a Difference” in response to the Toast to the Gown proposed by distinguished alumnus and Chairman of Qantas, Leigh Clifford.

Student events Student Achievement Evening On 12 August the Dean, Professor Margaret Abernethy, hosted the third annual Faculty of Economics and Commerce Student Achievement Evening. This event recognised the academic excellence of the Faculty’s best and brightest students, with awards presented to those who achieved the top marks in their subjects. Industry sponsors were in attendance to co-present awards with the Dean and meet these high achieving students. The evening was sponsored by Sothertons Chartered Accountants. As one of the Faculty’s newest sponsors, Sothertons has made a generous contribution to support the students of the Faculty and encourage their success both during their studies and in future endeavours. Thanks go to Professor Abernethy for hosting the event and to Professor Jeff Borland who acted as Master of Ceremonies. Recognition and thanks also to Peter Pryn of Sothertons and to Jarrod Coysh for his inspiring address.

Dean’s Awards The 2008 Dean’s Awards evening was held on 14 April in the Copland Theatre. This important annual event recognises the Faculty’s high achieving students. This year, the Faculty acknowledged the 101 students that comprise the Dean’s Honours List, the 18 students awarded Commerce Honours Scholarships, the five students awarded Commerce Honours Prizes and the 17 students awarded sponsored or trust prizes. All students were presented with an award certificate by the Dean, Professor Margaret Abernethy. Honours student Vivienne Groves also gave a thoughtful speech about her time at the University.

Students in Free Enterprise (SIFE) From 10 to 12 July University of Melbourne BCom students in the Students in Free Enterprise (SIFE) team travelled to Brisbane to compete in a competition aimed at comparing the projects created by different university teams. The Melbourne team won the competition in 2007 and also represented Australia at the World Cup in New York. The three-day extravaganza in Brisbane was likewise successful, culminating in a secondplace ranking for the team and robust support for the students’ projects.

Procter and Gamble Case Competition Over 120 students enrolled in Consumer Behaviour through the Department of Management and Marketing took part in a case competition initiated by Dr Elison Lim, lecturer in Marketing, in cooperation with Procter and Gamble. The students were challenged to style a solution that addresses specific existing concerns facing the marketing team at Procter & Gamble regarding the daily hairstyling needs and habits of the Australian consumer. The top three teams from the undergraduate class and those from the graduate class were selected to compete in the Case Competition Finals on Saturday 31 May and face the panel of judges – consisting of leading academics, practitioners and communications experts from the University and Procter and Gamble – with their presentations. Professor Gregory Whitwell, the Faculty’s Associate Dean for Academic Programs, was the chair of the judging panel. Not only was this initiative the first case competition of its kind for Melbourne GSM graduate students, it was also a Faculty first in bringing together undergraduate and graduate students in a joint project and competition. Furthermore, the project provided an excellent example of Knowledge Transfer. Annual Report 2008 Outlook 2009 41


Student Leadership Forum The second Student Leadership Forum was held on 8 August, with the Faculty’s brightest undergraduate students hearing from business and community leaders about the environmental challenges facing business, the rise of China and India as global economic players, and the importance of community involvement. Many alumni assisted with the day’s success and joined our students over lunch to share career stories, advice and debate these important issues.

Seminars, conferences and workshops In 2008, 20 seminars were held as part of the Melbourne Accounting Research Seminar (MARS) series of the Department of Accounting and Business Information Systems. These included presentations from overseas visitors such as Professor Jan Mouritsen from Copenhagen Business School and Professor Eli Amir from London Business School, as well as interstate visitors such as Professor Stephen Taylor from the University of New South Wales. At the Department of Economics, 13 seminars were held as part of the Departmental Seminar Series, 21 seminars as part of the Economic Theory Workshops, 25 seminars as part of the Macroeconomic Workshop Series, and 23 seminars as part of the Microeconometrics Workshop Series. Twelve seminars were held in 2008 as part of the Department of Management and Marketing’s seminar series. The Department of Finance held 31 seminars as part of the Research Seminar Series in 2008. Presenters came from a range of leading Australian and international institutions, and discussed a variety of topical issues in Finance. Following three successful one-day research symposia in 2005, 2006, and 2007, the Melbourne Derivatives Research Group hosted the 2008 Derivatives Down Under Conference in March. Speakers included Marti Subrahmanyam (NYU Stern), Richard Stapleton (University of Manchester), Jing-Zhi Huang (Penn State University), Jin-Chuan Duan (NUS, and University of Toronto). A particular highlight of this conference was the luncheon address by Peter Monkhouse (BHP-Billiton) on the practical application of real option valuation. As in previous editions, the conference attracted many industry attendees. The Melbourne Institute held three Economics Forums in Melbourne, with a specific policy issue covered at each forum. The three topics were: ‘“Too Little Too Late? – Preparing and Caring for Children for Life”; “Changing Fortunes of Australian Families in the Long Boom”, and “The 2008 Review of the Australian Automotive Industry”. The forums were chaired by Mr Tony Cole, of Mercer (Australia) Pty Ltd.

42 Annual Report 2008 Outlook 2009

The Melbourne Institute held three Public Economics Forums in Canberra. 2008 was the tenth year of these forums, which were chaired by Dr Ken Henry from the Department of the Treasury and Dr Jeff Harmer of the Department of Families, Housing, Community Services and Indigenous Affairs. The three Topics were: “Boosting the Labour Supply”, “Too Little Too Late? – Preparing and Caring for Children for Life”, and “Changing Fortunes of Australian Families in the Long Boom”. A workshop on “Education and Skill Mismatches in the Labour Market 2008” was held in Melbourne, and was jointly organised by the Melbourne Institute and the National Centre for Vocational Education Research (NCVER). The workshop examined applied economic and policy issues relating to human capital development and the importance of overskilling as a measure of skills underutilisation and labour market mismatch. The MIAESR Health Economics Research Program hosted a one-day workshop in March. Speakers included Professor Carol Propper (University of Bristol) plus speakers from MIAESR and the Department of Economics. Topics included the performance of public and private hospitals, by Dr Paul Jensen, and how obesity may be caused by parents’ “bad habits”, by Professor Kostas Mavromaras. The Melbourne Institute also held 13 seminars in 2008 as part of its seminar series and 25 workshops as part of the workshop series. The MIAESR and The Australian jointly held their fifth Economic and Social Outlook Conference in March, entitled “New Agenda for Prosperity”. The conference brought together over 420 delegates from academia, politics, public service, business, unions and community groups to discuss policy options for Australia. The Honorable Kevin Rudd MP, Prime Minister of Australia, opened the conference and presented the keynote address. The conference included contributions from the Commonwealth’s leading Ministers and Shadow Ministers, and the former Leader of the Opposition, Brendan Nelson.

The Honorable Kevin Rudd MP, Prime Minister of Australia, with the Vice-Chancellor, Professor Glyn Davis, and the Director of the Melbourne Institute, Professor Stephen Sedgwick.


Key plenary sessions focused on the macroeconomic challenges of the China boom and the new inflation pressures; whether the benefits of the boom have bypassed significant parts of Australia; the challenge of tackling indigenous disadvantage after the “apology”; the regulation of the infrastructure catch-up; and the environmental constraint on growth. Concurrent sessions covered issues including education, hospitals, welfare, labour supply, broadband, tax, innovation and research, and the regulatory burden. The Gala Dinner address was given by Professor Ross Garnaut, Professor of Economics at the Australian National University and the Federal Government’s Climate Change Adviser. During 2008 there were several seminars hosted by the Intellectual Property Research Institute of Australia (IPRIA). Most seminars were held in Melbourne, Sydney and Brisbane, and two were held in Perth and Adelaide. The seminar themes were: The Value of Copyright: Determining Shadow Prices; Mastering the Trade Mark System; Does Australia Have an Innovation Problem?; Privilege and the IP Professional; The Future of the International IP System; World IP Day 2008; Employees’ IP and the Employment Relationship – Incentives to Innovate; and In the Shadow of the Australia-China FTA Negotiations: What Australian Business thinks about IP.

Public lectures The Department of Accounting and Business Information Systems and CPA Australia jointly hosted the 69th Annual Research Lecture, “The Impact of Carbon Emissions Training on Auditing and Assurance Standards Setting” presented by Professor Roger Simnett FCPA on 13 October. At the same event, Associate Professor Geoff Burrows launched his latest book “Wisdom from the Podium” which recounts the history of the University of Melbourne and CPA Australia Annual Research Lecture. The Max Corden lecture was held on Wednesday, 15 October in the Copland Theatre. The lecture was presented by Professor Paul Collier CBE, Director of the Centre for Study of African Economies at the University of Oxford. The lecture was entitled, “Globalisation, Crises and Growth”. Professor Graham Sewell delivered his inaugural Professorial Lecture on 29 July, entitled: “Big Brother Versus a Fair Go: is Workplace Surveillance Coercive or Does it Guarantee Our Rights at Work?”

Professor Bryan Lukas’ inaugural professorial lecture “Market Competitiveness and Marketoriented Product and Brand Management” provided a wonderful insight into the art and science of being a market-orientated firm. He explained that marketing provides firms with a strategic logic that is central to market competitiveness. The audience thoroughly enjoyed his lecture. John Denton delivered the 23rd Annual Foenander Lecture on 20 August, entitled: “Forward with Fairness – A Business Perspective on Labor’s Reform Agenda”. John Denton is Partner and Chief Executive Officer of leading Australian law firm Corrs Chambers Westgarth, and is one of the country’s most respected experts on labour law. The lecture was jointly hosted by the Centre for Human Resources Management and the Department of Management and Marketing. The year’s first David Finch lecture was held on 28 March, delivered by Professor Richard Cooper (Harvard University) on the topic “Understanding Global Imbalances”. The second David Finch Lecture was held in November and presented by Professor Raghuram Rajan (University of Chicago). Professor Rajan is the Eric J. Gleacher Distinguished Service Professor of Finance at the University of Chicago’s Graduate School of Business. Professor Rajan’s lecture was entitled “The Credit Crisis: Causes and Consequences”. Professor Richard Burkhauser was the Downing Fellow in 2008, and presented the Annual Downing Lecture. Professor Burkhauser is the Sarah Gibson Blanding Professor of Policy Analysis in the Department of Policy Analysis and Management at Cornell University. In the lecture, he discussed the controversy over the measurement of US income inequality and some important new findings in that literature. On Wednesday 7 October, Professor Jonathan Pincus from the University of Adelaide presented the inaugural Department of Economics – Melbourne Institute Lecture on Public Policy. This lecture reviewed the evolution of Australian microeconomic frameworks since Federation by linking growth, competition and fairness.

Annual Report 2008 Outlook 2009 43


Academic and Professional Staff Dean and Associate Deans Dean, Faculty of Economics and Commerce; and Director, Melbourne Graduate School of Management Professor Margaret Abernethy

Deputy Dean Professor Jeff Borland

Assistant Dean Associate Professor Carol Johnston

Associate Dean (Academic Programs) Professor Greg Whitwell

Associate Dean (International) Professor Nasser Spear

Associate Dean (Research) Professor Ian King

Accounting and Business Information Systems Head of Department and Fitzgerald Chair of Accounting Lyon, John: BCom MFM Qld PhD Ohio Research interests: Empirical methods in accounting and finance, earnings announcements and the pricing of audits.

Dean of Economics and Commerce and Professor of Accounting Abernethy, Margaret: BEc PhD LaTrobe Research interests: Strategy and design of control systems, management control in hospitals, costing and performance measurement systems in manufacturing and service industries.

G.L. Wood Professor of Accounting Spear, Nasser: BEc Syria MSc PhD N. Texas Research interests: Capital marketsbased research, international financial reporting, contracting research, initial public offerings, security valuation, accounting for extractive industries.

Professor of Business Information Systems Ferguson, Colin: BBus Swinburne MEc NE PhD GDipComp Deakin CA FCPA MACS Research interests: Business information systems, business forensics, economics of auditing and auditor behaviour, fraud and corporate governance.

44 Annual Report 2008 Outlook 2009

Professor of Management Accounting Lillis, Anne: MCom PhD Melb Research interests: Management control systems design, strategy and performance management, evaluating strategic capital expenditures, corporate downsizing, structural cost management.

Professor of Accounting (from July 2008) Clinch, Greg: BEc (Hons) MEc Monash PhD Stanford Research interests: Financial accounting, accounting information in capital markets.

Associate Professors Davern, Michael: BCom Tas PhD Minnesota Research interests: Managerial decision making and support, risk management, appropriation of business processes and technology, business value of information technology, accounting information systems. Emsley, David: BA Nott Trent DipFinMgt NE MBA Brad PhD Macquarie CPA Research interests: Management accounting systems and organisational performance, management accounting innovation and change, the role of trust in the control mechanisms with special reference to joint ventures and strategic alliances. Pinnuck, Matthew: BCom PhD Melb Research interests: Financial accounting, behaviour of fund managers. Schultz, Axel Klaus-Dieter: BCom MCom PhD UNSW Research interests: Management accounting, behavioural accounting. (Until July 2008.)

Senior Lecturers Cobbin, Phillip: BBus RMIT MCom (Hons) MEd Melb DipEd SCVic Research interests: Market for audit services, the history of the accounting and auditing particularly where accounting and auditing history intersects with contemporary military history from late-Victorian times to the present. Coram, Paul: BEc Flinders GDipEd Adel MAcc UWA PhD ANU Research interests: Audit quality, behavioural research in assurance and financial accounting, accounting education.

Dowling, Carlin: BCom Tas PhD Melb Research interests: Audit support systems, system restrictiveness, audit technology use, audit firm control. Grafton, Jennifer: BCom PhD Melb Research interests: Management control system design and use in the not-for-profit sector, design and control of inter-organisational networks, performance management and research methods. Potter, Brad: BCom PhD Deakin CPA Research interests: Contracting research, accounting for public sector entities, international financial reporting, the development of financial reporting regulations. Sridharan, Viravalli Govindarajan: BCom Bharath PhD Auckland Research interests: Economics of managerial accounting systems, strategycontrol systems interface within firms. Teo, Eu-Jin: BCom LLB Melb GCertHigherEd Mon FTIA Research interests: Current legal issues, accounting and the law, taxation law, commercial law, government law.

Senior Teaching Fellow Brooks, Albert: BCom DipEd Melb MBus PhD Victoria Williams, John: MSc MBA PhD Wales

Lecturers Chen, Richard: BA (Accounting) Nanjing PhD Nanyang Research interests: Accounting information and regulatory structures in emerging markets, financial accounting and reporting issues, corporate finance and corporate governance, earnings quality and disclosure. Hronsky, Jane: BBus PGDipBus Curtin MCom (Hons) CPA Research interests: Audit judgement, communication issues in financial and audit reporting, accounting & assurance for climate change. Lee, Michael: BEc MCom Monash GDipAppFin&Invest SIA Research interests: Enterprise resource planning systems, supply chain systems, performance management design, business case evaluations, project management implementation. (Until August 2008.) Lee, Richard: BEc Monash DipEd SCVic CPA Research interests: Financial reporting, accounting policy choice, executive compensation, accounting education.


Parkes, Alison: BCom W’gong MBS (Info Sys) (Hons) Massey PhD Melb Research interests: Systems reliance, accounting information systems, decisional guidance, decision support systems. Seow, Poh-Sun: BAcc MBA Nanyang PhD Melb CPA Research interests: Behavioural research in accounting and accounting information systems, decision support systems, XBRL. Stamatelatos, Anna: BSc BEc BBusAcc DipEd Monash CMA CPA Research interests: Management accounting, financial accounting, capital markets, accounting education. Taylor, Sarah: BCom Sydney Research interests: Financial accounting, auditing and accountability. (Until July 2008.) Wallace, Sandra-Lee: BBus MFM PhD Queensland Research interests: Management accounting, cost accounting system design, contingency theory, total quality management implementation. Vassallo, Peter: BAppSci BArch Canberra MCom Sydney PhD UTS Research interests: Corporate governance, real investments, financial statement analysis. Vesty, Gillian: BBusAcc MBus VU RN Div1 Research interests: Actor-network theory, management accounting. Wu, Gang (Henry): BCom Peking PhD Melb Research interests: Auditing, behavioural accounting, corporate governance, management accounting.

Teaching Fellows Boys, Noel: BBus RMIT GDipEd Hawthorn GDipEd (Student Welfare) Melb Cusack, Greg: BBus RMIT DipEd RMIT CPA McKeown, Warren: BEc DipEd Monash BEd Deakin MBus RMIT CA CFP Tonkin, Trevor: BBus(Acc) Bendigo CAE GDipEd LaTrobe MComLaw Deakin ASA

Senior Tutors Balai, Fiodor: BCom Melb Chin, Yi Wen: BCom Melb Coralluzzo, Anthony: BCom Melb Costabile, Marc: BCom Melb Deller, Carolyn: BCom Melb

Gosain, Priyanka: BCom Melb

Principal Fellows

Hu, Zhengwai: BCom Melb

Burrows, Geoffrey Herbert: MCom DipEd Melb FCPA

Hu, Yi Ming: BCom Melb Kavourakis, James: BCom Melb

Collier, Philip: BSc Hull MSc Essex

Linggo Liong, Joana: BCom Melb

Senior Fellows

Webster, Tristan: BCom Melb

Alfredson, Keith: BCom Qld AAUQ FAICD FCA FCPA FNIA

Yi, Dawei: BCom Melb

Honorary Appointments

Bouwens, Jan: MFin PhD Tilburg

Professors Emeritus

Dilnutt, Rod: BA GDipEd LaTrobe MBA Deakin DBA Southern Cross

Nicol, Robert Edward George: BEc Syd MBA PhD Calif FAPA MCT

Fellows

Wright, Kenneth: BMetE DCom Melb FASA FASSA FAIM

Leslie, Stewart: BCom FCA Cameron, Wayne: BCom Otago

Professorial Fellows

Professional Staff

Anderson, Shannon: BSE Princeton MA PhD Harvard Research interests: Cost management, performance measurement, design of cost systems and management control systems, management control of strategic alliances and supply chain relationships.

Anderson, Sherryl: MBA MCom Law Deakin Department Manager

Arnold, Vicki: BA MBA PhD Arkansas 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. Easton, Peter: BAgSc BEc Adel PhD Berkeley DipTT SA DipFinMgt UNE Research interests: Financial statement analysis, equity security valuation, estimation of the expected rate of return on equity investments. Francis, Jere: BSc Drake MSc Minnesota PhD DEcon UNE Research interests: Economics of auditing, the effect of auditing on the quality of financial reporting, corporate governance, international accounting. Leech, Stewart: BCom Melb MEc Tas FCA FCPA MACS PCP Research interests: Accounting information systems, decision making in corporate recovery, intelligent decision aids, enterprise resource planning systems.

Anthony, Sarah: BA (Hons) Monash Melb MA Deakin Academic Services Officer Barnes, Sophie: BA GDipBus Edith Cowan Manager, Academic Services Carbone, Cathy Front Office Administrator Decolongon, Jennifer: DipDramArts VCA BA Melb Research Administrator (Maternity leave from May 2008.) Gravier, Lachlan: BBus LaTrobe Finance and Resources Officer Kozlowska, Sheena: Cert III BusAcc Cert IV Train&Assess TAFE Administrative Assistant McMahon, Julee Project Officer McNamara, Kerry Front Office Administrator Mitchell, Steven: BA DML Melb Academic Services Officer Robinson, Lorel: Cert III BusAdmin TAFE Personal Assistant to the Head of Department Stagnitti, Jessica: BDevSt (Hons) LaTrobe Research Administrator

Sutton, Steve: BSA MAcc 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.

Annual Report 2008 Outlook 2009 45


Department of Economics Head of Department and Professor of Economics Olekalns, Nilss: BEc (Hons) Adel MEc ANU MA West Ont PhD LaTrobe Research interests: Macroeconomics, applied econometrics.

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. Borland, Jeff: MA Melb PhD Yale FASSA Research interests: Operation of labour markets in Australia, program and policy design and evaluation, applied microeconomics (economics of sports), Australian economic history. Dixon, Robert: BEc (Hons) Monash PhD Kent Research interests: Macroeconomics, industrial economics, Marxian economics, regional economics. Freebairn, John: MAgrEcon NE PhD Davis FASSA Research interests: Taxation reform, labour economics, natural resource economics. King, Ian: BA (Hons) Concordia MA PhD Queens Research interests: Macroeconomics, applied theory, search, money, unemployment, life expectancy, growth, language acquisition. McDonald, Ian: BA (Hons) Leic MA Warw PhD SFraser FASSA Research interests: Behavioural economics and macroeconomics. Paarsch, Harry: BA (Hons) Queens MS PhD Stanford Research interests: Forestry economics, empirical models of auctions, applied econometrics, industrial organisation and labour economics, numerical methods.

Truby Williams Professor of Economics Creedy, John: BSc Brist BPhil Oxf FASSA Research interests: Income distribution, public economics, labour economics, history of economic analysis.

Professors of Econometrics Griffiths, William: BAgEc (Hons) UNE PhD Illinois FASSA Research interests: Applied Bayesian econometrics.

46 Annual Report 2008 Outlook 2009

Martin, Vance: BEc (Hons) MEc PhD Monash Research interests: Econometrics, time series analysis, monetary economics, macroeconomics.

Professorial Fellows Lim, Guay: MEc Adel PhD ANU Research interests: Macroeconometrics, financial econometrics, DSGE models. Ours, Van Jan: MSc Delft MSc PhD Erasmus Research interests: Health economics, labour economics. Van den Nouweland, Anne: BA (Maths) MA (Maths) Nijmegen PhD Tilburg Research interests: (Applied) game theory, mathematical economics, microeconomics.

Readers/Associate Professors Cameron, Lisa: BCom (Hons) MCom (Hons) PhD Princeton Research interests: Development economics, Asian economies (especially Indonesian), applied microeconometrics, labour economics. Gangadharan, Lata: BA (Hons) Delhi University MA Delhi School of Eco PhD USC Research interests: Experimental economics, environmental economics, institutions and development. Harris, David: BEc (Hons) 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 UK. Hirschberg, Joseph: BA Miami MA UC Riverside PhD USC Research interests: Microeconometric techniques, productivity measurement, evaluation of tertiary education, measuring anticompetitive behaviour, demand analysis. 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. MacLaren, Donald: BSc (Agr) (Hons) Aberd MS PhD Cornell Research interests: Agricultural trade policy and the World Trade Organization, state trading enterprises, preferential trading agreements, measures of trade restrictiveness.

Norman, Neville: BCom (Hons) MA Melb PhD Camb Research interests: Industrial pricing as influenced by tariffs, exchange rates and world price movements, post-keynesian industrial and international economics, trade practices economic issues and the economics of e-commerce. Shields, Kalvinder: BA (Hons) MA Reading PhD Leicester Research interests: Applied macroeconomic modelling with particular interests in the use of real time data, survey-based expectations in macroeconomic models, business cycles, nowcasting and forecasting. Shields, Michael: BA (Hons) Staffordshire MSc Health UNY PhD Leicester Research interests: Health economics, economics of happiness, labour economics, applied microeconometrics.

Senior Lecturers De Fontenay, Catherine: BA (Hons) McGill PhD Stanford Research interests: Development economics, industrial organisation, theoretical and empirical bargaining theory. Edmond, Chris: PhD UCLA Research interests: Economic fluctuations and growth, monetary economics, financial economics. Erkal, Nisvan: BA Macalester College MA PhD Maryland Research interests: Industrial organisation, microeconomic theory. Harding, Don: MEc ANU PhD Yale Research interests: Macroeconomics. Hillberry, Russell: BS Minnesota PhD Indiana Research interests: Economic geography, international trade. Raimondo, Roberto: Laurea Milan PhD (Mathematics) SUNY PhD Berkeley Research interests: Economic theory, financial economics. Skeels, Christopher: BEc (Hons) PhD Monash Research interests: Econometric theory. Smith, Rhonda: BCom (Hons) MA (Hons) Research interests: Economics of trade practices, economic policy towards industry. Williams, Jenny: BEc ANU MEc PhD Rice Research interests: Microeconometrics, health economics.

Lecturers and Research Staff Artemov, Georgy: Specialist Moscow State MA CEU PhD Brown Research interests: Mechanism design, matching theory, microeconomic theory.


Clarke, Andrew: BA MEc Syd PhD McMaster Research interests: Labour economics, macroeconomics, econometrics. Coelli, Michael: BCom (Hons) UNSW MA PhD British Columbia Research interests: Labour economics, applied microeconometrics, public economics, economics of education. Hodler, Roland: MA PhD Bern Research interests: Economic development, political economy, international economics. Jacobi, Liana: MA PhD Washington University St. Louis Research interests: Econometrics, Bayesian inference, health and labour economics.

Professorial Fellows Corden, Warner Max: BCom (Hons) MCom Melb PhD LSE FASSA FBA AC Gans, Joshua: BEc Qld PhD Stanford MacFarlane, Ian: BEc (Hons) MEc Monash Williams, Philip: MEc Monash PhD LSE

Principal Fellows Ironmonger, Duncan: MCom PhD Camb Jennings, Victor: BEng OBE Johnston, Carol: BCom BEd MEd PhD Nieuwenhuysen, John: MA Natal, PhD London, FASSA Wheatley Price, Stephen: BA MA PhD Leicester

Li, Shunyun (May): BS MA Renmin MS PhD Texas at Austin Research interests: Macroeconomic implications of financial frictions, business cycle modelling, monetary policy transmission mechanism, venture capital, contract theory.

Senior Fellow

Loertscher, Simon: MA PhD Bern Research interests: Industrial organisation, mechanism design, political economy.

Harper, Margorie: MA

Nikiforakis, Nikos: BA (Bus) Athens MA PhD London Research interests: Experimental economics, behavioural economics, industrial organisation, public economics, game theory.

Professional Staff

Shah, Manisha: PhD UC Berkeley Research interests: Development economics, applied microeconomics, health economics.

Bacher, Heidi Manager, Academic Support Services

Uren, Lawrence: BEc (Hons) ANU PhD Princeton Research interests: Macroeconomics, labour economics.

Chart, Michelle: Cert3BusAdmin TAFE NSW Personal Assistant to the Head of Department

Wilkening, Tom: BA Arizona PhD Massachusetts Research interests: Experimental economics, market design, contracts and organisational economics, behavioural economics.

Collins, Suzanne: BTeach (Primary) BA Deakin General Front Office Support and Actuarial Studies Distance Education Administrator

Yektas, Hadi: MA PhD Pittsburgh Research interests: Auction theory, mechanism design, game theory, microeconomic theory, industrial organisation.

Honorary Appointments Professors Emeritus Lloyd, Peter: MA Vic NZ PhD Duke FASSA Perkins, James: MA PhD Camb MCom FASSA

Williams, Lynne: BA MA MSc LSE PhD Monash

Fellows Davies, William Martin: BA (Hons) GDipEd PhD Flinders PhD Adelaide Jones, Anna: BA (Hons) Med PhD Melb Stoneham, Gary: BCom MA Qld Millerick, Cherie: BA Syd Department Manager – until May 2008 Philip, Preeta: MBA Andrews Department Manager – from May 2008

Brown, Olga Front Office Support

Fauzi, Fauzi: BIT CQU IT Systems Support Haddad, Leonie: AdvDipBus Finance and HR Officer Karunarathne, Wasana: BA (Econ) University of Peradeniya MA (Econ) University of Colombo PhD (Econ) NUS Tutor Coordinator Khan, Nahid: MCom, MSocSci (Econ) BSocSci (Hon Ec) University of Dhaka Tutor Coordinator and Undergraduate Support Officer

Koleva, Viktoriya: BA Sofia MA (SocResearch) Warwick Laboratory Manager, Experimental Lab Leong, Colemann: CBE&ACE RMIT PGDipCompSci Swinburne Web and System Support Officer Lo, Victor: BEng (Geomatics) UNSW MTech RMIT Web Development Officer Lochran, Margaret Department Web Page Administrative Support Lombardo, Rosemary Administrative Officer, Undergraduate Programs Mackinnon, Lesley: RN RM NNPC DipSocSci (Welfare) BHealthSci (Nursing Post Registration) Administrative Support Officer, Distance Education Vancuylenburg, Sanjeeva: DipTech (Computing) Homesglen Web and System Support Officers Perez, Kathryn: DipInfoTech& Multimedia Bendigo TAFE Manager, Economic Design Network Qin, Rosy Finance and HR Officer Smith, Belinda: BA BSc Melb Personal Assistant to the Head of Department

Centre for Actuarial Studies Director and Professor of Actuarial Studies Dickson, David: BSc (Hons) PhD Heriot-Watt FFA FIAA Research interests: Aggregate claims distributions, renewal risk processes, recursive methods in risk theory.

Professorial Fellow Dufresne, Daniel: BSc (Hons) Montreal PhD City University (London) FSA Research interests: Financial mathematics, actuarial science and probability.

Associate Professor Joshi, Mark: BA (Hons) Oxford PhD MIT Research interests: Financial mathematics.

Senior Lecturers Li, Shuanming: BSc Tianjin MEc Renmin PhD Concordia Research interests: Risk and ruin theory, stochastic modelling in insurance and finance, actuarial science. Pitt, David: BEc BSc Macquarie PhD ANU FIAA Research interests: Analysis of disability income insurance portfolios, stochastic modelling in actuarial science.

Annual Report 2008 Outlook 2009 47


Lecturer Wu, Xueyuan: BSc MSc Nankai PhD HKU Research interests: Correlated risk models, ruin theory, recursive calculations for ruin probabilities.

Deputy Head of Department and Associate Professor

Wright, Will: BSc (Hons) MSc PhD Auckland Research interests: Financial mathematics.

Brown, Christine: BSc(Hons) MSc Dip Ed PhD Melb SF Fin FAMI Research interests: Pricing derivative securities and innovations in financial markets, derivative markets, valuation of real options, modelling credit risk, financial institutions management, capital management, share buybacks, bank regulation and implementation of Basel 2, infrastructure financing.

Honorary Staff

Associate Professors

Professorial Associate

Chan, Howard: BCom (Hons) MEc Monash PhD Monash CPA Research interests: Asset pricing, market efficiency, capital markets and the role of analysts as information intermediaries, pricing of securities and the role of liquidity and cycles in markets, derivative securities.

Research Fellow

Taylor, Gregory: BA PhD FIA FIAA FIMA CMath AO Research interests: Modelling in general insurance.

Senior Fellows Gribble, Jules: BSc (Hons) Adel PhD St Andrews FIAA FCIA FSA Harslett, Grant: BSc (Hons) Adel FIA FIAA ASA Truslove, Allen: BSc (Hons) PhD Monash MBA Deakin FIA FIAA

Department of Finance 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, asset allocation design.

Commonwealth Bank Professor of Finance Davis, Kevin: BEc (Hons) Flinders, MEc ANU SF Fin FFTP FAMI Research interests: Financial institutions management, treasury management, financial engineering, corporate financial policy, financial markets.

Professors of Finance Brown, Robert: MEc Syd FCPA SF Fin Research interests: Interest rate swaps, analysts’ forecasts, management and regulation of financial intermediaries, real estate analysis. Grundy, Bruce: BCom (Hons) Qld PhD Chicago FCPA Research interests: Derivatives, corporate governance, real options, the structure of the mutual fund industry, momentum trading strategies, cost of capital with classical and imputation tax regimes.

48 Annual Report 2008 Outlook 2009

Handley, John: BCom BMath Newc MCom (Hons), PhD Melb F Fin Research interests: Corporate finance, derivative security pricing and corporate finance applications of derivative security pricing including the design of financial securities, cost of capital, corporate valuation and real options. Lamba, Asjeet S: BA (Hons) Delhi MBA Mich PhD Wash CFA Research interests: Share buybacks, corporate litigation, insider trading, corporate governance. Sawyer, Kim: BSc UWA MEc PhD ANU Research interests: Finance theory, quantitative finance, behavioural finance, corporate governance. Schwann, Greg: BA (Hons) Queens MA (Ec) PhD British Columbia Research interests: Real estate finance, real estate economics, real estate backed derivatives.

Senior Lecturers Brown, Rayna: BA Macq MCom (Hons) PhD Melb SA Fin Research interests: Regulation of financial institutions, real estate finance. Chang, Xin: BEng Tsinghua MPhil PBOC, PhD HKUST Research interests: Corporate finance. Chng, Michael: BCom (Hons) MCom (Hons) PhD Melb Research interests: Price discovery, cross-market trading dynamics, trading strategies. Coleman, Les: BEng (Hons) Melb BSc (Econ) (Hons) Lond MEc Syd PhD Melb CFTP (Snr) Research interests: Risk strategy, behavioural finance, wagering markets,

applied corporate finance, agricultural and resources finance, corporate crises, and practical applications of academic research. Dark, Jonathan: BCom (Hons) Ec PhD Newcastle Research interests: Dynamic hedging strategies, value at risk and time varying beta estimation. Pinder, Sean: BCom (Hons) Monash PhD Newcastle Research interests: Issues relating to the valuation of derivative securities and the analysis of corporate financial decision-making. Scheule, Harald: MBA Regensburg DBA Regensburg Research interests: Banking, insurance, financial risk measurement and management. Shekhar, Chander: BSc Panjab MSc Virginia PhD Penn State Research interests: Economic models of financial markets, market for corporate control, initial public offerings, corporate restructuring, corporate governance.

Lecturers Aharoni, Gil: BA MBA PhD Tel Aviv Research interests: Asset pricing, behavioural finance, market efficiency. Akyol, Ali: BA PhD Alabama Research interests: Corporate finance and governance, corporate control, IPOs, market efficiency. Gygax, André: Lic.oec. HSG St Gallen MS (Finance) MBA Colorado PhD Melb Research interests: Entrepreneurial finance, industrial organisation, dynamic social networks. Murawski, Carsten: Dipl-Kfm Univ Bayreuth Dr oec publ Univ Zuerich Research interests: Financial innovation, experimental finance, financial institutions, financial stability. O’Connor, Ian: BBus Chisholm MBus RMIT,PhD Melb CPA SA Fin Research interests: Bank efficiency, derivative securities, volatility forecasting. Scott, Callum: BSc (Hons) Edin BA Open UK GDipEd Dundee GDipCInfSc MSc VUT PhD Melb AFPA (Academic) Research interests: The application of artificial neural networks in finance, real estate finance and analysis. Zeng, Qi: MS Academia Sinica PhD Penn Research interests: Asset pricing, Chinese stock market.


Lim, Bryan: BA Columbia PhD UC Santa Barbara Research interests: Financial economics, institutional investors, experimental finance. Verwijmeren, Patrick: BsC MsC PhD Erasmus Research interests: Convertible securities, capital structure, corporate social responsibility. Zhang, Liang: BE Xi’an Petroleum University PhD University of Hawaii Manoa Research interests: Empirical asset pricing.

Research Assistant Tang, William: BCom Melb GDip(Data Processing) Monash

Professional Staff Kreitner, Jason: BA NM State MPA JD South Dakota Department Manager Barberoglou, Silvia Academic Services Officer Carey, Robin: BSc (Econ) MA (Econ) UC Riverside Executive Assistant Suda, Melanie: BA LLB Melb Executive Assistant Dalvean, Joe: BAppSc Monash IT Manager Dixon, Helen Student Services Officer Doyle, Joanne Finance and Resources Manager Moir, Wendy: BAppSc (Info Tech) (Hons) CSturt Systems Support Officer Murray, AnnMaree: BAppSci (PhysEd) VU Academic Services Officer Vella, Julieanne Undergraduate Officer

Department of Management and Marketing Professor and Head of Department Lukas, Bryan: MBA Nebraska PhD Memphis Research interests: Strategic marketing (brand strategy and product innovation strategy), brand valuation, marketingfinance interface, international marketing.

Professors Bell, Simon: BCom (Hons) PhD Melb Research interests: Services and relationship marketing, customer loyalty, sales force management, organisational learning, social networks and regional clusters.

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. Hardy, Cynthia: BSc (MgtSc) PhD Warwick Research interests: Organisation theory, strategy power and politics in organisation, strategic change, interorganisational collaboration, organisational discourse theory. 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, crosscultural management, the role of language in international business, the impact of culture on student learning styles. Merrett, David: BEc (Hons) MEc Monash Research interests: Internationalisation of Australian firms, evolution of ‘big business’ in Australia, headquartersubsidiary relations in multinationals, principal-agent issues within firms. 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. Sewell, Graham: BSc (Hons) PhD Wales Research interests: Workplace surveillance, teamwork, business ethics, recent developments in organisation and management theory, qualitative research methods, evolutionary psychology, sociology of work and organisations. Whitwell, Gregory: BEc Monash PhD Melb 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.

Zammuto, Raymond: PhD Illinois Research interests: Organisational adaptability to changing industry conditions.

Professorial Fellow Isaac, Joseph: AO BCom BA (Hons) Melb PhD London HonDEcon Monash Hon DCom Melb Hon LLD Macquarie FASSA Research interests: Labour market institutions, industrial relations, wages policy, small business.

Associate Professor and Reader Kraimer, Maria: PhD Illinois Research interests: Managing expatriate employees, career issues, and the employee-employer relationships. Teaching interests include human resource management, compensation, and international management.

Associate Professors 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. 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. Siebert, Scott: BS SUNY MS PhD Cornell Research interests: Personality, interpersonal behaviour and career success, psychological climate and work motivation, personality and entrepreneurship, social capital, proactive personality. Terziovski, Milé: BE (Hons) ME (Hons) W’gong MBA RMIT PhD Melb 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. Waters, Lea: BA (Hons) PhD Deakin Research interests: The psychological consequences of unemployment and retrenchment, training and development programs for unemployed people, occupational stress, work-family conflict, mentoring.

Annual Report 2008 Outlook 2009 49


Zhu, Ying: BEc Peking PhD Melb Research interests: HRM, international HRM, international business management, economic development in Asia (China, Japan, South Korea, Taiwan and Vietnam), political economy of globalisation.

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.

Senior Lecturers

Singh, Prakash: BE (Hons) BBus QUT PhD Melb Research interests: Operations management, supply chain management, quality management, innovation management.

Barsky, Adam: BA (Psychology and Sociology) Wisconsin-Madison Masters in I/O Psychology 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: BAgSci (Hons) LaTrobe BBus (Marketing) RMIT PhD Monash Research interests: Services marketing, relationship marketing, customer loyalty, customer citizenship behaviour. Johnston, Stewart: BA Well MSc Lond PhD Melb Research interests: All aspects of management in multinational corporations – strategy, structure, control, innovation, HQ-subsidiary relations, Japanese management and Japanese business groups. 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). Napoli, Julie: BBus (Hons) MCom (Marketing) Curtin PhD Monash Research interests: Creating and managing brand meaning, brand management across contexts and cultures, brand orientation and performance, music effects in advertising and marketing. Paladino, Angela: BCom (Hons) PhD Melb Research interests: Consumer behaviour, environmental marketing, innovation and corporate performance, resource-based view and capabilities strategies, market orientation, strategic management and marketing. Power, Damien: BBus MBus PhD Monash Research interests: Business to business e-commerce, supply chain systems/virtual integration, business process redesign, operations strategy.

50 Annual Report 2008 Outlook 2009

Lecturers Chmielewski, Danielle: BA/BCom (Hons) PhD Melb Research interests: Strategic marketing, strategic management, timing of entry, brand introduction strategy, resourcebased view and capabilities, strategic orientation. Coker, Brent: BCA (Information Systems) BCA (Electronic Commerce & Multimedia) PhD (Information Systems) VU Wellington Research interests: Consumer decision making in online environments, internet marketing strategy, measuring the online consumer experience. Frahm, Jennifer: BBus Communication (Hons) PhD QUT Research interests: Organisational change and development, organisational communication, workplace communication, employees experience of change, innovation, strategic change, process research methods, mixed methodology. Hanna, Victoria: BEng (Hons) PhD Loughborough Research interests: Small firm cooperation, innovation and competitiveness. Harris, Philip: BAppSc (Hons) PhD Swinburne Research interests: Bridging neurophysiological insights and marketing theory, physiological responses associated with communications processing, links between attention, emotion and memory in communications effectiveness. Hu, Helen: Bsc (Hons) UOL PhD Monash Research interests: Corporate Governance, Chinese Business and Management, Board of Directors, Governance in the Asian Region Lim, Elison: BBA (Hons) PhD NUS Research interests: Information processing, language effects in advertising, cross-cultural consumer differences, behavioural decision theory.

Mol, Joeri: MSc Erasmus PhD (Mgmt Sci) Groningen Research interests: Selection mechanisms in markets, power and appropriation in organisations, classification systems and genre formation, diffusion processes, broadcasting and creative industries. Nagpal, Anish: BSc (Hons) MechEng MSc (Hons) Econ BITS Pilani PhD (Mktg) Houston Research interests: Consumer behaviour, information processing, decision frames and choice, decision conflict. Neville, Ben: BCom PGDip PhD candidate Research interests: Corporate social responsibility and business ethics, stakeholder theory and stakeholder management, climate change and environmental issues, consumer issues and marketing ethics, cross-cultural issues in marketing and management. Osegowitsch, Tom: BA (Hons) Wirtschafts Wien MCom (by Research) PhD UWA Research interests: Strategies of multinational companies, international business, strategy, HQ-subsidiary relationship. Sammartino, AndrĂŠ: BCom (Hons) PhD Melb Research interests: International business, regionalisation and globalisation, internationalisation of Australian firms and of retailers, transformation of subsidiary roles, vertical scope and competitive advantage, business history. Yang, Shu-Jung (Sunny): BSc UChinese Culture Taipei MSc IndEng&OpsRsch UNational Taiwan Research interests: Strategic capacity competition in capital-intensive industries, the interface between strategy, economics and operations, particularly in the competition context.

Professional Staff Short, Wendy: AssDipApSci (Sci Lab) Swinburne GDipEdAdmin HIE MEdAdmin UNE Department Manager Banford, Alison Academic Services Manager Bergman, Kristel: BA/BSc LaTrobe Undergraduate Coordinator Brown, Olga Front Office Administrator Bryce, Tim: BA Melb Postgraduate Coordinator


Cox, Mary Administrative Services Manager Donelly, Barbara Front Office Coordinator Haddad, Leonie: AvdDipBus CIT Undergraduate Coordinator Hall, Bradley Budgets and Resources Officer Heddle, Nicole: AdvDip (Photography) Undergraduate Coordinator Pedley, Sarah: BA (Hons) Melb DipTeach Perugia Undergraduate Coordinator Roller, Danielle: BA Swinburne Publications and Promotions Coordinator Simon, Denise Executive Assistant

Melbourne Institute of Applied Economic and Social Research Director and Professorial Research Fellow Sedgwick, Stephen: BEc Hons Syd MSc (Eco) Lond Research interests: Education policy, Commonwealth-state relations, economic and social policy.

Deputy Director and Professorial Research Fellow Wooden, Mark: BEc Hons Flinders MSc (Eco) Lond Research interests: Labour economics, industrial relations and survey methodology.

Professorial Research Fellows Lim, Guay: BEc MEc PhD ANU Research interests: Macroeconometrics, modelling the Australian economy, financial econometrics, DSGE models. Mavromaras, Kostas: BA Hons Piraeus DPhil York Research interests: Labour economics, econometrics, economic and social policy, inequality, health economics, obesity. Scott, Anthony: BA Hons Newcastle MSc York PhD Aberdeen Research interests: Health economics organisation and financing of health care, labour markets of health care professionals.

Principal 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.

Webster, Elizabeth: BEc Hons MEc Monash PhD Camb Research interests: Industrial economics, innovation and intellectual property, labour markets.

Senior Research Fellows Cai, Lixin: BEd Henan MA Renmin MEc PhD ANU Research interests: Health and labour market outcomes, effects of tax and transfers on labour supply, microsimulation modelling. Chen, Pu: BEng Shandong MMgmt PhD (Eco) Bielefeld Research interests: Applied macroeconomics, time series analysis, causal analysis in economics. Jensen, Paul: BEc USyd PhD UNSW Research interests: Economics of innovation, contracts and incentives, health economics, privatisation and contracting out, firm survival, economics of climate change. Scutella, Rosanna: BCom Hons PhD Melb Research interests: Poverty, inequality, social welfare, labour economics and public finance. Tseng, Yi-Ping: BEc Taiwan PhD ANU Research interests: Labour economics, applied microeconometrics, economic and social policy. Wilkins, Roger: BCom Hons MCom Melb MSc Wisc PhD Melb 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 economics, happiness and subjective well-being research, productivity analysis.

Research Fellows Buddelmeyer, Hielke: MA Vrije PhD NYU Research interests: Applied microeconomics, labour supply, applied econometrics, behavioural microsimulation. Chua, Michael: BEc Hons PhD UNE Research interests: Bayesian inference, forecasting, applied macroeconomics.

Goode, Alison: BA Hons Newcastle Upon Tyne MSc Aberdeen Research interests: Obesity, lifestyles and behaviours, public health issues. Herault, Nicolas: BSc (Eco) MSc (Eco) PhD, Bordeaux IV and Toulouse I Research interests: Microsimulation modelling, micro-macro modelling, labour supply and trade liberalisation. Jeon, Sung-Hee: BA Ewha Womans MA PhD York (Toronto) Research interests: Applied microeconomics, health human resources, social and health policies. Kostenko, Weiping: BIS Beijing Jiaotong MEco Guangdong Academy of Social Science Research interests: Microeconometric models with applications to labour, migration and health economics. Lee, Wang-Sheng: BA (Eco) Colby MA Michigan PhD Melb Research interests: Program evaluation, applied microeconometrics, government transfer programs and happiness economics. Palangkaraya, Alfons: BSc UMo MA Penn St PhD Ore St Research interests: Industrial organisation, health economics, econometrics. Polidano, Cain: BAgricEcon (Hons) LaTrobe MAgric Econ Syd Research interests: Applied microeconometric analysis, youth transition issues, education and training policy, participation and benefits of volunteering and climate change adaptation. Schurer, Stefanie: DiplPol Potsdam MSc Econ York PhD Econ RGS Econ Research interests: Microeconometrics, health economics. Sivey, Peter: BSc (Eco) MSc (Health Economics) York Research interests: Microeconomics, health economics, applied microeconometrics, specifically discretechoice modelling, non-linear panel data methods, industrial economics applied to health care markets. Tsiaplias, Sam: BCom (Hons)/LLB Deakin PhD Melb Research interests: Macroeconomics, financial economics, econometrics, forecasting.

Claus, Edda: BA (Eco) McGill MSc UMontrĂŠal PhD ANU Research interests: Macroeconomics, financial economics, applied econometrics.

Watson, Nicole: BSc UWA GDipMgtSc Canberra MMedStat Newcastle Deputy Director Survey Management, HILDA Project

Freidin, Simon: BBSc Hons GDipCompSc LaTrobe HILDA Survey Database Manager and Analyst

Leahy, Anne: BCom GCertClassics Melb

Survey Manager

Annual Report 2008 Outlook 2009 51


Research Officers Black, David: BCom Hons Melb Research interests: Labour economics, government policy, applied econometrics. Fok, Yin King: BCom Hons/BIS Melb Research interests: Labour economics (education and labour supply). Hahn, Markus: German Diplom (Eco) Ruhr Research interests: Labour economics, economics of poverty and well-being, applied econometrics. Research Officer (HILDA) Ittak, Peter: BSc BEc Monash Database Support Officer (HILDA) Summerfield, Michelle: BSocSci Edith Cowan Database Support Officer (HILDA) Sun, Claire: BSc BCom Auckland HILDA Survey Methodologist Tyrrell, Lauren: BPub Policy/Mgmt (Hons) BA (Media&Comm) Melb Research interests: Employment assistance, welfare to work pathways, intermediate labour markets and social and community enterprise, employment retention and advancement for low paid workers. van Zijll de Jong, Mark: BCom (Hons) Lincoln Research interests: Labour economics and taxation. Vu, Ha: BEc Newcastle Hons ANU Research interests: Applied econometrics, social policies and labour economics. Warren, Diana: BCom MCom (Hons) W’gong Research interests: Labour economics, mature age labour force and the transition to retirement. Zakirova, Rezida: MSc (Math) Moscow ABD MA (Eco) CEU Research interests: Development, labour economics, international trade, applied microeconomics.

Freebairn, John: BAgEc MAgEc NE PhD Davis FASSA (Ritchie Chair in Economics, Department of Economics, The University of Melbourne)

Hope, Penelope: BA LaTrobe Functions Manager

Griffiths, Bill: BAgEc Hons UNE PhD Illinois FASSA, Professor of Econometrics, Department of Economics, The University of Melbourne

Lentini, Nellie: BA Monash Publications Manager

Professorial Fellows Dawkins, Peter: BSc Lough MSc (Eco) Lond PhD Lough, Secretary, Department of Education and Early Childhood Development Drago, Robert: BS Tulsa MA PhD Mass/ Am, Professor of Labor Studies and Women’s Studies, Pennsylvania State University Duncan, Alan: BA Hons Manc DPhil York, Professor of Microeconomics, School of Economics, The University of Nottingham Sloane, Peter: BA (Eco) (Hons) Sheffield PhD Strathclyde FRSA FRSE, Director, Welsh Economy and Labour Market Evaluation Centre (WELMERC), The University of Wales, Swansea Williams, Ross: BCom Melb MScEc PhD Lond FASSA

Principal Fellows Crosby, Mark: BEc (Hons) Adelaide MA PhD Queens Associate Professor – Economics, Melbourne Business School Headey, Bruce: BA Oxf MA Wisc PhD Strath

Wilson, Michelle: BA Hons Melb Administrative Assistant

Faculty Secretariat General Manager, Faculty of Economics and Commerce Loi, Aileen: BCom MIB Chartered Accountant (ICAA, ICANZ)

Executive Director, Melbourne Graduate School of Management Young, Brooke: BA LaTrobe PGDip (ArtCurSt) MEnterprise (Exec) Melb

Director, Advancement, Faculty of Economics and Commerce Dixon, Suzanne: BCom DipEd Hawthorn Institute, MBA VUT

Professional Staff

Air, Alister: BAppSc UTS Faculty IT Manager Antonopoulos, Anthea Research Support Officer

Senior Fellows

Banovac, Marica: BSc (Psych) DipEd (Sec) LaTrobe Project Officer (Finance)

Doiron, Denise: BA Monc MA PhD UBC, Department of Economics, The University of New South Wales

Professional Staff

Honorary Appointments

Auster, Nicky: BBus BA Monash Administrative Assistant, HILDA

52 Annual Report 2008 Outlook 2009

Thomason, Sharna: BSocSci GCert Policy and Human Services RMIT Executive Assistant

Shields, Michael: BA Hons Stafford MSc Health UNY PhD Leic, Associate Professor and Reader, Department of Economics, The University of Melbourne

Ware, Kerry

Creedy, John: BSc (Eco with Stats) Brist BPhil (Eco) Oxf FASSA, Truby Williams Chair of Economics, Department of Economics, The University of Melbourne

Madsen, Paula Administrative Officer, Labour Economics and Social Policy

Abud, Fiona Development Manager (Advancement)

Research Assistant

Borland, Jeff: MA PhD Yale FASSA, Department of Economics, The University of Melbourne

Liew, Woei Tian: BSc MSc LaTrobe GDipEc Melb Computing Systems Officer

Marks, Gary: BSc Hons MSc Melb PhD Qld

Rogers, Mark: BSc Lond MSc Warw PhD ANU, Harris Manchester College, Oxford University

Adjunct Professors

Howard, Cliff: BCom Melb Communications and Publicity Manager

Best, Michelle: BEnvSc LaTrobe Administrative Assistant Derham, Rachel: BSc GCertUniMgmt Melb Business Manager Goh, Theresa: BBus (Bus Admin) MPA RMIT, ASA Finance and Resources Manager

Banyasz, Agnes: MA DipEd ELTE Budapest, GDip (Careers) Deakin Manager, Graduate Careers Centre Barrier, Lorine: MAppCom(Mktg) Melb Advancement Services Assistant Barry, Anthea: BA UCT GCertLinguistics Melb PGCertEditing& Comms Melb Advancement Alumni Officer Bennett, Sharyn: BA (IntStud) RMIT Study Abroad and Exchange Coordinator Benetti-Hille, Marika: BA LLB Monash BSW Melb Student Experience Officer Boardman, John: BA SUNY Team Leader, Student Services


Braybrook, Penny: BSocSci MBIT Research Databases Manager Brennan, Rachael Emily: BA BCom Qld Enquiries Officer Chan, Steven Systems Support Officer Chang, Nooi: BA (Hons) Malaya MEPA Monash Manager (International) Choong, Eddie: BBusStud VU CPA International Marketing Manager Clark, Leonie Student Adviser Collis, Stephen Manager, Melbourne GSM Cornish, Sarah: BAppSci (Disability Studies) Manager (Student Services), Commerce Student Centre Cox, Chantelle: BA RMIT MT (Web and Internet Computing) RMIT Web Developer Cross, Ryan: BA LaTrobe Student Adviser Do, Nghia: BElectEng RMIT Computer Systems Officer Dougherty, Lisa: B(Bus) VU GCertUniMgt Melb CPA Management Accountant

Gilmartin, Clare: BA ACU Executive Assistant to the General Manager and Associate Dean (Academic Programs) Goethals, Noortje: BA (International Business) MA (International Business) Maastricht Student Experience Officer, Melbourne GSM Gouskova, Veronika: BCom Melb Communications Officer Hamilton, Amanda: BA (Linguistics) Deakin Academic Programs Manager (Economics, Finance and Management) Hanson, Brad: BA Monash GDipMktg MBus (Mktg) RMIT CPM Manager, Marketing and Communications Harper, Clare: BA (Hons) Hull MA Nottingham Manager, Student Experience, Melbourne GSM Hashinaka, Maysayoshi: BA Sophia MA (Japanese Interpreting and Translation) Monash PGDipEd Admissions Officer, Melbourne GSM Herczeg, Margaret Admissions Manager, Melbourne GSM

Douglas, Jean Admissions Assistant, Melbourne GSM

Heron, Adam: BA LLB Deakin MPhil ANU Scholarships & Prizes Officer

Douglas, Victoria Academic Programs Officer (Master of Applied Commerce programs)

Hoare, Jacqueline: BCom (Management) Melb Executive Officer (Marketing)

Dun, Andrew: BCogSci (Hons) UWA Student Experience Officer

Hobden, Rebecca: BA (Marketing, Management Communication) Aarhus Student Experience Officer, Melbourne GSM

Elliott, Eufemia: BA BCom Melb Internship Coordinator, Graduate Careers Centre Ellis, Tracy: BA Swin Academic Programs Manager, Research Higher Degrees Fidler, Belle: BA DipLang Team Leader, Student Services Fraser, Jemimah Student Adviser Georgesz, Mark: BEc LaTrobe MAppCom(Mktg) Melb Executive Officer (Resources) Gilfillan, Nick Enquiries Officer, Melbourne GSM Gilleard, Rachel: BA Executive Officer (Academic Policy & Programs) Gillman, Kylie: BA (Hons) Melb Communications Manager (maternity leave from August 2008.)

Jenkins, Alison: BA BEd Deakin BA (Hons) Manager (External Relations) Jenzen, Rachel: BA (Hons) MA Manager (Policy and Projects), Melbourne GSM Jeyaraj, Latha: BA UNE GDipInfoMgmt RMIT Student Experience Officer Jose, Sabina Academic Programs Manager (Master of Applied Commerce programs)

Krieg, Peter Student Adviser Kritikakos, Evangelos: BA (Hons) PhD Monash Manager, Student Services Lascelles, Scott Andrew: BBus (Hospitality Management) LaTrobe Executive Officer (Master of Applied Commerce programs) Laughlin, Kylie: BA (Crim) PGDipArts(Crim) GCertUniMgt Melb Manager, Academic Policy and Programs Lawry, Fiona Communications Manager (from August 2008) Lazo, Alfredo: BSc (Eng) MInfoTechMgt Lima Core Services Specialist Lloyd, Amanda: BBus (Information Systems) VUT Client Services Manager Majczak, Daniel: DipHospMgt William Angliss BBus (Information Systems) VUT MCP Computer Laboratory Manager; Service Desk Manager, March-December 2008 Martini, Daniel John Academic Programs Officer (Economics, Finance and Management) Martini, Sarah: BA LaTrobe Careers Programs Officer, Graduate Careers Centre Marriner, Alana Enquiries Officer, Melbourne GSM McCormick, Chrissy Scholarships & Prizes Officer McInerney, Catherine: BA (Political Science) Monash Student Adviser McPharlin, Susan: BA BCom Adel Student Experience Senior Project Officer Meredith, CaAtherine: BA English Curtin Manager, Student Experience Mong, Catherine: BBusAdmin Singapore GDipSoftwDev RMIT GCertUniMgt Melb Academic Programs Officer Nguyen, Thu: BBIS VUT Desktop Support Officer

Jovanovski, Sokola Administrative Officer (International) until May 2008; Academic Programs Manager (MBIT and Master of Accounting Programs)

Nguyen, Trung System Support Officer

Kartalis, Bill: BBus VUT AssDip (PHYS/ COMP) WMCT AdvCert (IT) FT, CBE VUT MCP MCSE ASA (AIX) CSM SPA PRINCE2 SME ITIL SME and Managers. Core Services Manager

O’Shea, Rosemary: BA Monash BEc LaTrobe MAppCom(OrgChg) Melb Executive Assistant to Executive Director, Melbourne GSM

O’Connell, Jennifer: BA(Hons) DipCA Melb Enquiries Officer

Annual Report 2008 Outlook 2009 53


Pecoraro, Francesca: BA (Media Studies) RMIT GCertUniMgt Melb Manager, Commerce Student Centre

Sharma, Sanjay: MSc India PGDipCompSysEng RMIT Application Services Manager

Pedley, Sarah: BA (Hons) Team Leader, Student Services

Shears, Monique Professional Enhancement Officer

Peluso, Daniel: BBus (Info Systems) VUT Core Services Specialist

Shepherd, Alistair: BA (Hons) MA Melb MA (Communication) RMIT Executive Officer (Graduate Marketing) (until March 2008)

Pham, Maggie: BBus (Info Systems) Service Desk Manager; Core Services Lead Operations, March-December 2008 Pham, Quynh: BSc GDipEcSt Monash Systems Support Officer Phan, Van: BCompSci VU Applications Developer Ng, Helayne: BA Syd Business Unification Project Coordinator Qin, Rosy: BCom (Accounting and Finance) DipEd Finance and Resources Officer Randall, Jacqueline: BA GDipMedStud Deakin Manager (Research) Reece, Rebecca: BBus Swinburne CPA Financial Controller Reiger, Maxine: BBCM VUT PRINCE2 Core Services Officer Ritter, Anne: BSc GDipCompSci LaTrobe Research Databases Administrator Robertson, Katie: DipSocSci (Justice) DipAppSc Box Hill TAFE Senior Student Adviser Rodriguez, Fernando: DipIT Box Hill TAFE MCP Systems Support Officer Rycroft, Anna: BA VU Finance and Resources Officer Singh, Isha: BComm Advertising (Creative) RMIT Student Experience Support Officer

54 Annual Report 2008 Outlook 2009

Smith, Victoria: BA Enquiries Officer Sivathash, Bala: MSc (UK) BEng India MCSE CCA Systems Support Officer Stahli, Simone Amy: BSocSci (Youth Work) RMIT Enquiries Officer Ta, Daniel System Support Officer Tan, Michael Porter

Teaching and Learning Unit Andonov, Paul: BInfoSci DipComp VUT Manager, Multimedia Beaumont, Tim: BA Adel GDipEd LaTrobe MEd RMIT Learning Support Officer Carter, Dorothea Maths Tutor Davies, Martin: BA Deakin RSA CELTA Cambridge BA PhD Flinders GDipEd PhD Adel Deputy Director Draper, Sanchia: BA Swin PGDipEco Melb Programs and Publications Coordinator Holdsworth, Annie: BA RMIT GDipBus RMIT MArt RMIT MEd RMIT Learning Adviser Jones, Anna: BA DipEd GDip (TESOL) MEd PhD Melb Lecturer in Higher Education

Templeton, Hetty: BBus (Computer Systems Management) VUT Desktop Support Officer; Computer Laboratory Manager, March-December 2008

Peseta, Tai: BEd (Hons) PhD Syd Lecturer in Higher Education

Thompson, Clare: BA Monash DipCIS RMIT Senior Student Adviser, Undergraduate

Puglielli, Sonia Academic Programs Coordinator

Trajcevska, Vesna Academic Programs Officer Truong, Linh: BE BSc Core Services Specialist Vassilev, Spassimir Systems Support Officer Vellu, Phyllis: MA India Executive Assistant to the Dean Vucetich Karibian, Rocio International Marketing Manager

Pesina, Jenny: BDesign (Multimedia) Swin Multimedia Developer

Shaw, Jennifer: DipIT Chisholm Administrative Assistant Watty, Kim: BBus VU MAcc GCert TT&L PhD RMIT Director Xue, June: BSc DipInfoTech Holmesglen TAFE Web Developer


New Academic Appointments and Promotions Accounting and Business Information Systems Professorial Fellows Professor Shannon Anderson Professor Vicky Arnold Professor Stewart Leech

Associate Professor Associate Professor David Emsley

Research Professor Professor Greg Clinch

Senior Teaching Fellows Dr Albie Brooks Dr John Williams

Lecturers Dr Richard Chen Ms Sandra Wallace Dr Poh Sun Seow Dr Gang (Henry) Wu

Teaching Fellows Mr Trevor Tonkin Mr Warren McKeown Mr Greg Cusak Mr Noel Boys

Senior Tutors Carolyn Deller James Kavourakis Fiodor Balai Dawei Ye Yi-Wen Chen Yi Ming Hu

Economics Chair in Actuarial Studies Professor Daniel Dufresne

Ritchie Chair Professor John Freebairn

Professors Professor Harry Paarch Professor Andrew Tremayne Professor Robert Dixon

Senior Lecturer Dr Chris Edmond

Lecturer Dr Nikos Nikiforakis Dr Tom Wilkening

Finance

Teaching and Learning Unit

Senior Lecturer

Deputy Director

Dr Jonathan Dark

Lecturer Dr Carsten Murawski Dr Bryan Lim Dr Patrick Verwijmeren Dr Liang Zhang

Management and Marketing Chair of Marketing Professor Simon Bell

Senior Lecturer Dr Philip Harris

Lecturers Dr Helen Hu Dr Brent Coker Dr Sunny Yang

Head Tutor Dr Valerie Cotronei-Baird

Research Fellows Ms Victoria Lim Dr Eric Quintane Ms Belinda Allen Dr Yu Zhao

Melbourne Institute Senior Research Fellows Dr Pu Chen Dr Rosanna Scutella Dr Lixin Cai

Research Fellows Ms Weiping Kostenko Mr Cain Polidano Mr Peter Sivey

Research Officers Ms Rezida Zakirova Mr Markus Hahn Ms Lauren Tyrell

HILDA Database Support Officers Mr Peter Ittak Ms Michelle Summerfield

Dr Martin Davies

Senior Lecturer Dr Anna Jones

Lecturer in Higher Education Dr Tai Peseta

Mathematics Tutor Ms Dorothea Carter

Farewells Accounting and Business Information Systems Professor Stewart Leech Associate Professor Axel Schulz Dr Susanna Ho Dr Nena Lim Dr Mohamed Elbashir Mr Michael Lee Mr Sanjev Rajendren

Economics Professor Anne van den Nouwelland Associate Professor Sisira Jayasuriya Dr Don Harding Dr Richard Fitzherbert

Management and Marketing Associate Professor Maria Kraimer Associate Professor Scott Seibert Dr Julie Napoli Dr Stewart Johnston Dr Jennifer Frahm Dr Stephen Morgan Dr Michael Beverland Ms Victoria Lim

Melbourne Institute Mr Paul Agius Ms Leanne Ellis Mr Clinton Hayes Dr Umut Oguzoglu Dr Julia Witt

HILDA Survey Methodologist Ms Claire Sun

Annual Report 2008 Outlook 2009 55


Statistical tables Table 2 Teaching Load, 1998-2008

Table 1 Numbers of Unique Students Enrolled in a Faculty Course in 2008 Course

International students

Total enrolments

Other than Higher Higher Year Degree Degree

Total

47

686

2008

4462

1369

5831

BAgr/BCom

0

1

2007

4163

1293

5456

BAgrSc/BCom

0

13

2006

3993

1094

5087

4173

2005

3997

941

4938

BA/BCom

BCom

2162 0

2

2004

3840

727

4567

55

141

2003

3793

571

4364

0

0

2002

3570

419

3989

2

2001

3264

331

3595

125

2000

3073

266

3439

BCom(Hon)/BIS BCom(Hons) BCom(Hons)/BSc BCom(Hons)/LLB

1

BCom/BIS

107

BCom/BPC

11

88

1999

3147

256

3403

BCom/BSc

13

265

1998

2864

220

3084

BCom/LLB

108

263

BE(IT)/BCom BE/BCom

23

85

175

486

3

16

2705

6346

0

1

BMus/BCom Total Undergraduate Certificates Diplomas Masters (CW)

9

61

1147

1703

Masters (Res)

30

60

PhD

41

118

Total Graduate

1227

1943

Total

3932

8289

Table 3 Full-Year Teaching Load by Nature of Enrolment, 2008 Level

Australian subsidised

International fee-paying

Australian fee-paying

Total

Bachelors (Pass)

2048

1980

265

4293

Bachelors (Hons)

78

54

0

132

0

8

29

37

48

960

276

1284

Diploma Masters (CW) Masters (Res) PhD Total

4

2

0

6

44

35

0

79

2222

3039

570

5831

Note: Components may not add to totals owing to rounding

56 Annual Report 2008 Outlook 2009


Table 4 Full-Year Teaching Load by Department, 2008 Higher Higher Under- Degrees Degrees Department graduate Diplomas (Coursework) (Research) Total Accounting

987

3

461

7

1458

Eco

1497

20

166

30

1713

Finance

1040

5

235

9

1289

901

9

422

35

1367

0

4

4

4425

37

1284

85

5831

Mgt MIAESR Total

Notes: Components may not add to totals owing to rounding. Higher Degrees (Research) total for Economics includes Actuarial Studies.

Table 5 Number of Academic and Professional Staff by Department Department

Teaching and Research Full-time Casual

Faculty General Accounting & Bus InfoSys

Research Only Full-time Casual

Professional Staff Full-time Casual

5.8

0.3

1.6

0.0

91.7

7.6

39.6

7.7

3.8

1.8

10.0

0.8

3.1

16.2

0.4

2.2

8.7

1.2

Economics

41.6

16.5

Finance

24.0

12.8

2.6

Management & Marketing

36.2

11.5

2.0

2.7

9.5

1.2

1.0

37.9

0.5

6.6

0.3

148.2

48.8

47.9

10.4

142.7

11.5

MIAESR Total

Table 7 Total Operating Expenditure 2008 $million

Table 6 Research and Research Staff by Category Category Number

60

Not included in non-salary costs is the University Overhead of $42.420m, Trust Fund transfers or contribution toward ‘The Spot’

50

Professor

30.0

Above Senior Lecturer

32.4

40

Senior Lecturer

30.0

30

Lecturer

45.6

20

Below Lecturer

10.2

Total

Non-salary

10

148.2

0

Salary 2003

2004

2005

2006

2007

2008

Table 8 Sources of Revenue 100% 80%

8.4% 18.9%

5.1%

5.2%

19.1%

19.3%

57.2%

57.4%

60% 40%

52.9%

1.6%

5.5%

4.6%

12.5%

11.4%

12.0%

66.8%

69.5%

66.8%

Research income

20% 0%

Other

Student fee income

19.8%

18.6%

18.2%

19.1%

15.4%

2003

2004

2005

2006

2007

13.8%

DEST operating grant

2008

Annual Report 2008 Outlook 2009 57


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

Online enquiries: http://ecom-unimelb.custhelp.com Internet:

www.ecom.unimelb.edu.au

Publication disclaimer: The University has used its best endeavours to ensure the material contained in this publication was correct at the time of printing. The University gives no warranty and accepts no responsibility for the accuracy or completeness of information and the University reserves the right to make changes without notice at any time in its absolute discretion. Users of this publication are advised to reconcile the accuracy and currency of the information provided with the relevant faculty or department of the University before acting upon or in consideration of the information. Copyright in this publication is owned by the University and no part of it may be reproduced without the permission of the University. Authorised by the General Manager. Published by the Faculty of Economics and Commerce, May 2009. Š The University of Melbourne

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2008 Annual Report FBE  

FBE Annual Report 2008