2004 September Alumni News by The Faculty of Business and Economics, The University of Melbourne

Faculty of Economics and Commerce

September 2004

alumni news From the Dean’s Desk It was said at the prize ceremony that Sir James solved the income tax problem in a way which has become a paradigm for a broad class of economic problems where asymmetric information plays a large role. He established a principle whereby individuals are motivated to act in accordance with their true preferences. This reformulating of the problem made it possible to arrive at a solution. Sir James has also made an important contribution to the analysis of two-party negotiations. In the mid-1970s, he was able to show how contracts can be designed in such a way that the preferences of the principal are also taken into account by the agent. His solution has had applications in many different areas.

The Faculty is delighted to announce the appointment of a Nobel Laureate as Professorial Fellow in the Faculty of Economics and Commerce. The appointment is made under the University’s Eminent Scholars Program and will commence in 2005. Sir James Mirrlees, Professor of Political Economy, University of Cambridge will spend up to two months each year for the next three years at the University where he will carry out collaborative research, give lectures and advise young researchers. It is a great honour for the Faculty that we have been able to attract such a distinguished international scholar who will share his experience with teaching and research staff and with students. He will also provide an exceptional role model for members of the Faculty. Sir James, together with William Vickrey won the 1996 Nobel Prize for Economics for their fundamental contributions to the economic theory of incentives under asymmetric information.

The quality of teaching and research in the Faculty continues to be recognised with the following recent achievements of staff and students:

Associate Professor Carol Johnston is the recipient of the 2004 Norman Curry Award. This award was introduced to recognise projects or services that demonstrate innovation and excellence in the support of University teaching and learning. This is a much deserved recognition of Carol and her colleagues for their excellent and innovative work in the Teaching and Learning Unit. The award consists of a grant of $25,000 an engraved medallion and a citation. The winner is also expected to make a presentation at the VC’s Colloquium on 7 December.

Felicia Eng, a third-year Commerce/ Science student is one of three young Australians awarded an inaugural Order of Australia Association Foundation Bursary. Ms Eng will receive $15,000 a year for up to three years to assist with the completion of her studies. She will also be supported by a volunteer mentor Professor Adrienne Clarke AC, a leader in both the scientific and business communities drawn from the membership of the Order of Australia Association Dr Peter James Fleming from the Department of Management has won one of four Chancellor’s Prizes awarded for excellence in a PhD thesis completed in 2003. He will be duly honoured at the Menzies Oration graduation ceremony on 15 September. We hope that alumni will join us in welcoming the Nobel Laureate to the Faculty and in congratulating the achievements of our staff, students and alumni. Margaret Abernethy Dean

In this Issue... Welcome

Hugh Morgan’s Address

Business Forensics

Dr Lea Waters (Department of

Graduates in Singapore

Management), is the recipient of the prestigious Edward Brown Award for 2004. This award promotes excellence in teaching and consists of a grant of $25,000, an engraved medallion and citation. The winner of the Award is expected to nominate for the Australian Awards for University Teaching conducted by the Australian Universities Teaching Committee and is expected to make a presentation at the VC’s Colloquium on 7 December.

Faculty Facts & Figures

Graduate Destination Survey

Faculty Research Project

Young Alumni Event

Alumni Event

Whitlam Scholarships

Events Calender

Drop-in Information Sessions

Welcome to our second newsletter for 2004! There have been a number of things which have happened since our previous newsletter was sent earlier this year. I would like to warmly welcome three new members to the Committee of Management - Pin Pin Song, Simon Brain and Jason Dong. All three recently joined the committee at the Annual General Meeting, held in July 2004. There were also two resignations from the committee. I wish to thank Ghislaine Lowry for her hard work and assistance with alumni events over the last year and a half. Ghislaine’s enthusiasm, ideas and contribution will be missed. A big thank you also goes to Vikram Panchal for his twelve months on the committee. Vikram joined while finishing off his studies and provided keen input from a student perspective.

An alumni function was held on the 27th April 2004 addressed by Mary Wooldridge, the CEO of the Foundation for Young Australians. The event was sponsored by KPMG and held in the ground floor foyer of the KPMG Melbourne CBD office building. Mary spoke about “Career Success” and its combination with personal and community objectives. About 80-90 people attended and were inspired by Mary’s talk through her work history. The Economics and Commerce Dinner was held for alumni on the 7th July 2004, in the university’s new Law School Building. The speaker at the dinner was Hugh Morgan AC, who is the current president of the Business Council of Australia. Hugh gave an interesting insight into current issues facing the Australian labour market, from its historical development to suggestions of what may happen in the future.

We plan to continue to send two newsletters per year. Only some of the newsletter editions are automatically sent to all alumni. So if you would like to be on the distribution list for every newsletter that’s released, please contact Susan McPharlin on: ph: 03 8344 2167 or e-mail: s.mcpharlin@unimelb.edu.au (if you have already done so, there is no need to contact again). Also, if you would like to contribute articles, photographs, ideas or anything at all to the newsletter or UMCAS, you can respond to Susan on the same phone/ e-mail or post to the Alumni Society at: Faculty of Economics & Commerce Level 4, 161 Barry Street University of Melbourne Vic 3010 Future events are outlined further on in this newsletter. We hope you will be able to make it to some of them, and look forward to meeting you there. Steven Zigomanis President UMCAS

Hugh Morgan’s Address Prominent Australian businessman, current president of the Business Council of Australia and noted alumnus, Hugh Morgan addressed an alumni dinner held in July. Mr Morgan reflected on the issues facing the Australian economy posed by this country’s tendency to favour a highly centralised labour market which is regulated by government. Mr Morgan told alumni that prior to Federation and before the introduction of a centralised wage fixing apparatus, Australia had had the highest per capita income in the world. Since then we have moved back to about 20th position, he said. The Australian labour market, which constitutes at least 70% of the economy, has had really poor performance as a consequence of the heavy regulation. As a competitive issue, labour market reform is needed on the political agenda as a top priority, Mr Morgan said. “Consequently we have today – after 10 years of unprecedented growth – an official unemployment rate of 6%, but which ABS surveys show is really of the order of 13-15%. The most effected by the system are those men who are unemployed and who are over 50.”

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Business Forensics – the new frontier of accounting and business information systems New Course Postgraduate Certificate of Business Forensics Business forensics is an area of consulting, mainly in accounting practices, that has seen significant growth in recent years. The Big 4 firms are continuing to develop and expand their forensic divisions in response to the increased demand for forensic services. But, equally, these services are also in demand in second-tier and smaller practitioner firms. Forensics uses accounting, auditing, and investigative skills primarily to provide advice on legal matters. Typically, the advice sought from forensic specialists is used to determine economic loss and/or business valuations arising out of commercial disputes or criminal behaviour. If these legal matters come before the courts, as they often do, the forensic specialist may be called upon to act as an expert witness. The skilled business forensic specialist is most likely to have a traditional commerce background but is further trained in legal and investigative processes, business valuation methods, and, increasingly, information technology forensic processes. To meet the expected demand for the specialist skills required by business forensics experts, the Department of Accounting and Business Information Systems will offer a new Postgraduate Certificate of Business Forensics Semester 1 2005. This program comprises four subjects – three core and one elective. The core includes two new subjects, Forensic Business Processes and Information Technology Forensics. The other core subject is Accounting Information and Security Valuation, currently offered within the Department.

Forensic Business Processes looks at investigative processes involved in recognising and collecting evidence for Australian courts. The subject covers the relevant legislation and examines the key differences across the Australian jurisdictions. It also examines the role of legal practitioners and the processes involved in working with regulatory authorities. While a key aspect of the subject centres around the legal system and investigative processes, the subject aims to assist students to apply their accounting and business knowledge to practical case studies, legal and investigative issues.

In today’s world law enforcement is increasingly exposed to electronic evidence. As such there is a greater need for specialist knowledge and skills to effectively deal with complex computer technology in investigations. Information Technology Forensics aims to impart detailed knowledge of information technology as well as a thorough understanding of the rigorous requirements of obtaining electronic evidence that will be acceptable in legal proceedings. The subject covers the basics of technology, networking, security, the law of evidence, computer forensics and intrusion forensics as well as the manner in which digital evidence can be identified, preserved, analysed and presented to be acceptable in legal proceedings in Australia. Contact: Professor Colin Ferguson email: colinf@unimelb.edu.au or telephone: +61 03 8344 4482

Graduates in Singapore – Intelligent Careers Dr Leisa Sargent, Director of the Master of Applied Commerce in Organisational Change at the University of Melbourne will be giving a presentation titled “Managing your Intelligent Career”. She will draw on the most recent research to examine the future of work and the fundamental changes to careers in the 21st century. The presentation will focus on the importance of developing a portfolio of successful career management strategies as well as the value of job change readiness. The presentation is targeted at individuals who want to develop an intelligent career. The event will be held on Wednesday 15th September, Grand Plaza Parkroyal Ballroom 2, Level 2. Registration from 6.30 pm, from 7-9.30 pm with a cocktail reception afterwards. RSVP to Ms Joan Lim (joan.lim@idp.com).

Faculty of Economics and Commerce Alumni Newsletter 3

Facts & Figures Did you know: •

The Faculty attracts the top 5% of students nationally and internationally.

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In August the total student load in the Faculty reached a full-time equivalent of 4364, an increase of 174 in 12 months.

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The Faculty’s IT infrastructure grew to eight teaching labs ranging in size from 15 to 39 computers. In addition there is now one postgraduate lab of 90 computers and a wireless networked open work area with space for around 50 students. Plans have been finalised for two new 30 seat labs and one undergraduate lab expanding to 300 by the end of 2004.

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Industry type, graduates in full-time work (%)

•

Some 7,000 students are enrolled in the various degrees and diplomas offered by the Faculty. 900 students are enrolled in postgraduate diplomas and degrees, including 120 in the PhD. The clearly-in ENTER for the Bachelor of Commerce degree was 94.7.

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One in five undergraduates in the University, are enrolled in the Bachelor of Commerce degree, either as a single degree, or more commonly in combination with another degree such as Arts, Information Systems, Engineering, Law or Science.

Nearly 40% of graduates who majored in finance, accounting or acturaial studies were accountants or auditors. Others were analysts, actuaries and IT professionals.

Enrolment Data Faculty of Economics and Commerce Total Enrolment (2003) Level of Study Eco & Commerce Enrolment Postgraduate Undergraduate % Female Total % change 2002-2003

925 3323 56.6% 4248 + 11.9%

University Total Enrolment (less double enrolments) 11190 27484 57.3% 38674 + 3.5%

Total International Enrolment (2003) Eco & Commerce Int Enrolment % change 2002-2003

4 Faculty of Economics and Commerce Alumni Newsletter

1915 +24.4%

•

Economics graduates worked as analysts, economists, sales representatives, engineers or articled clerks.

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Bachelor salaries Mean salary $41,435 Median salary $39,500 Postgraduate salaries Mean salary $68,719 Median salary $68,000

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A high percentage of graduates are employed in the private sector (87% bachelors and 74% postgraduates).

Queens Honours Awards for graduates of the Faculty The Faculty acknowledges and congratulates the following alumni who have been recognised in the Queens Honours Awards. OAM: Medal of the Order of Australia Mr Brian Darnton BAYSTON (LLB 1953, BCom 1956) For service to the community through a range of religious and educational organisations, particularly the Presbyterian Church of Victoria. Brian Bayston completed a LLB (1953) and BCom (1956) at the University of Melbourne. He is the Law Agent at the Presbyterian Church of Victoria.

Mr Lincoln Edwin BURCHETT (BCom 1954) For service to veterans and their families through the 2/14 Australian Field Regiment Association. Lincoln Burchett graduated with a BCom from the University of Melbourne in 1954.

Mr Colin Bruce CARTER (BCom 1965) For service to the community through a range of business, sporting, and charitable organisations.

Colin Carter is Senior Adviser to, and former Vice President of The Boston Consulting Group. He is a Director of Origin Energy, Wesfarmers, and Melbourne 2006 Commonwealth Games and is a Commissioner of The Australian Football League. He has several not-forprofit involvements including being a Director of The Australian Charities Fund and Chairman of the Indigenous Enterprise Partnership. Mr Carter holds a BCom from the University of Melbourne and an MBA from Harvard Business School, where he was a Baker Scholar.

For service to the welfare of veterans through the Returned and Services League of Australia. Marcus Quinlivan graduated from the University of Melbourne with a BCom (1950). He represented the University in baseball.

Mr John Richard LLOYD (BCom 1971)

For service to education and to the community, particularly through the Anglican counselling and guidance agency, Lifeworks. Beryl Gregory completed a BCom (1969) and GDipEd (1973) at The University of Melbourne. She represented the University in netball and is a former resident of Ormond College and University College. Mrs Gregory is currently the Principal of Christ Church Grammar Primary School in South Yarra.

For service to the development of Australian business links with China, and to the community through the Rotary Club of Melbourne.

Mr Marcus James QUINLIVAN (BCom 1950)

PSM: Public Service Medal

Mrs Beryl Elizabeth GREGORY (BCom 1969, GDipEd 1973)

Mr Anthony David KOSKY (BCom 1967)

Anthony Kosky graduated from the University of Melbourne with a BCom in 1967.

For outstanding public service in the field of workplace relations, particularly his contribution to the Royal Commission into the Building and Construction Industry. John Lloyd has been Deputy Secretary of the Commonwealth Department of Employment and Workplace Relations since 2001. He was Chief Executive of the Western Australian Department of Productivity and Labour Relations from 1996 to 2001 and Executive Director of the Victorian Department of State Development from 1993 to 1996. Mr Lloyd has been a member of the National Occupational Health and Safety Commission since 2003. He graduated from the University of Melbourne with a BCom (1971) and is a former resident of Newman College.

Drop-In Information Sessions The Faculty has introduced a series of evening BCom Drop-In Information sessions for students and parents. These will be a great benefit with access to career advice and staff. Sessions will be held on : Tuesday 30 November Tuesday 7 December from 5.30 to 7.30 pm Bcom-enquiries@unimelb.edu.au Telephone: (+61 3) 8344 1817

Faculty of Economics and Commerce Alumni Newsletter 5

Faculty Research Project Measuring Hospital Performance: Outputs, Quality of Care, Competition and Efficiency The latest Linkage Project supported by the Australian Research Council, will investigate the performance of hospitals over the next 3 years. The grant totals $300,000 and the researchers include Dr J Yong; Dr EM Webster; Prof WE Griffiths; Dr P Rosendale and Prof DL Bosworth in partnership with the Department of Human Services.

Research Summary As hospitals are a critical component of the health infrastructure, an understanding of their performance is important in shaping an overall health care strategy. Unfortunately, assessing hospital performance has been fraught with difficulties. A major obstacle is in defining and measuring their outputs and quality. Collaborating with the Victorian Department of Human Services, and using the Department’s VAED datasets, researchers aim to develop a framework within which unobservable quality dimensions can be estimated, enabling hospital output and quality to be accounted for. The framework will be useful for addressing pertinent health policy issues, including hospital funding, specialisation, and competition issues.

Young Alumni Event The Hon John Brumby, Treasurer of Victoria, will be the Guest Speaker for the Young Alumni Event to be held on Monday, October 11, 6:00 to 8:00pm at Deloittes’ Melbourne office. As well as being a notable alumnus and Victorian State Treasurer, Mr Brumby is Minister for the Department of Innovation, Industry and Regional Development. He plays a key role in initiatives to enhance the business climate, attract investment and enhance the growth capabilities of Victoria, a role which is strongly aligned to his role as Treasurer in shaping the State’s overall economic framework. He completed a Bachelor of Commerce degree at the University of Melbourne in 1974 and a Diploma of Education at SCV Rusden in 1975. Mr Brumby entered the Victorian Parliament in February 1993 in a by-election for the Legislative Council Province of Doutta Galla. Four months later he was elected Leader of the Parliamentary Labor Party. He entered the Legislative Assembly as the MLA for Broadmeadows in September that same year.

Mr Brumby stepped down as Leader of the Opposition in March 1999. His period as Leader of the Opposition was highlighted by a renewal of Victorian Labor’s parliamentary representation, the implementation of the Victorian ALP’s affirmative action policy, overseeing development of new policies to revive country Victoria and the rejuvenation of the party’s platform. Prior to serving in the Victorian Parliament, he was Federal MHR for Bendigo between 1983 and 1990, serving as Chairman of the Parliamentary Employment, Education and Training Committee and a member of the Prime Minister’s Country Task Force. Between 1990 and 1993 Mr Brumby worked as a consultant to the banking and finance industry and then as Chief of Staff to the Federal Minister for Resources and Tourism, with responsibility for the development of policy in areas such as energy, petroleum, minerals and tourism. Prior to entering parliament, Mr Brumby was employed as an official with the Victorian Teachers Union, and was a teacher at Eaglehawk High School between 1976-1979. John Brumby is married and has three children.

Mr Brumby was re-elected unopposed as Opposition Leader in March 1996. In addition to his responsibilities as Opposition Leader, he was also the Shadow Minister for Agriculture and Rural Affairs, Shadow Minister for Multicultural and Ethnic Affairs and the Shadow Minister for the Arts.

6 Faculty of Economics and Commerce Alumni Newsletter

Young Alumni Event: Monday, October 11, 6:00 to 8:00pm Deloittes, Level 21, 505 Bourke St Melbourne. Contact to make bookings: Ms Susan McPharlin s.mcpharlin@unimelb.edu.au or telephone 8344 2167

Alumni Event Melbourne US Alumni Network Evening with Professor Rob Widing, Washington, DC The Melbourne-US Alumni Network recently held its first event in an initiative to undertake a significant challenge – to build a network in the most networked country on earth! Hosted jointly by the Faculty of Economics and Commerce and the Melbourne US Alumni Network, the alumni and friends reception met for An Evening with Professor Rob Widing in Washington DC on the 21st May. It was a huge success. Professor Widing, recently named among the Top-10 Marketing Researchers in the Asia-Pacific, discussed recent comparative Australian and US developments in marketing. He also provided alumni and their friends with a chance to hear the latest about campus life and allowed them to share their experiences since graduation. The Network is led by Dion Love a Commerce alumnus who now works in the

Australian Embassy. It has embraced a broad approach to defining the Melbourne alumni community to include full degree Australian graduates living in the US, as well as American study abroad, exchange and graduate students who have returned home. The Network has consequently been faced with the challenge of having, as Dion says “market coverage but no concentration,” despite there being many Melbourne University graduates in the US, they are geographically spread from California to New York, and from Oregon to Maryland. Dion commented that the “aim of the Network, in order to overcome this challenge, is developing regional contact points for new alumni in the US that can host regional events that bring people together for social and professional networking. Our plan is to propose activities based on Melbourne University’s strength – its people and its research,

and maintain alumni connection with these strengths through coordinating small functions that feature visiting faculty members speaking on leading-edge or Asia-focused research.” The Network is also looking to connect with other Australian university alumni networks in the US to collaborate and co-host their activities. For more information about the Network please contact Dion Love at dion.love@austrade.gov.au or Brooke Young byoung@unimelb.edu.au

Whitlam Scholarships In 1971 the late Arthur Gordon Whitlam bequeathed cash and investments to provide scholarships in the Faculty of Economics and Commerce. Scholarships are determined on academic merit and are awarded each semester in a range of categories at both undergraduate and postgraduate levels. The following postgraduate students have been awarded scholarships for Semester 2, 2004.

Pictured from top: Harvey Lee, Lyudmila Napier and Daniel Machado.

Student

Course

Country

Yun-Man FU

MAC Marketing

Taiwan

Jacklyn Suzette HONIG

MAC Marketing

USA

Yiwen Timothy KOH

Master of Applied Commerce

Singapore

Jiranut PITAKANNOP

MAC Marketing

Thailand

Yin QIN

MAC International Business

China

Daniel MACHADO

Master of Business & IT

Venezuela

Paolo MELLONI

Master of Human Resources Management

Mexico

Harvey LEE

Master of Business & IT

Australia

Lyudmila NAPIER

Master of Business & IT

Ireland

Thangabharathi MURUGESAN

Master of Business & IT

India

Tania BASUKI

MAC Business Analysis & Systems

Indonesia

Gervasio CLAVERIE

MAC International Business

Argentina

Rika HENDARTI

Master of Applied Finance

Indonesia

Faculty of Economics and Commerce Alumni Newsletter 7

Events calendar Event

Date & Venue

Contact/More information

Inaugural Lecture Professor Colin Ferguson, Dept Accounting and Business Information Systems The Pervasiveness of Information & Communication Technology; Its Effect on Business Processes & Business Models

Thursday 30 September, 6.30 pm Wood Theatre, Economics & Commerce Building

Ms Phyllis Vellu ppv@unimelb.edu.au or telephone 8344-5311

The David Finch lecture Professor Alan Taylor, University of California, The Mystery of Global Capital

Tuesday 9 November, 6.00pm Copland Theatre, Economics & Commerce Building

Ms Phyllis Vellu ppv@unimelb.edu.au or telephone 8344-5311

Young Alumni Function The Hon John Brumby, Treasurer of Victoria

Monday, 11 October 2004, 6.00–8.00 pm Deloitttes, Level 21, 505 Bourke Street Melbourne

Ms Susan McPharlin s.mcpharlin@unimelb.edu.au or telephone 8344 1815

Final Year Commerce Students BBQ The BBQ introduces final year students to the Alumni Society encouraging continued links

Thursday 14 October, 1.00pm–2.30pm Systems Gardens on campus

Ms Emily Nugent s.mcpharlin@unimelb.edu.au or telephone: 8344 1815

Annual Reunion Luncheon of Commerce alumni who graduated 45 or more years ago

Tuesday, 26th October 2004, 12 noon–2.30 pm Upper East Dining Room, University House

Ms Emily Nugent s.mcpharlin@unimelb.edu.au or telephone 8344 1815

Living Together Is Easy: Japanese and Australian Artists

Sunday 7 November National Gallery of Victoria (NGV) Australia,Federation Square, Corner of Russell and Flinders Street, Melbourne

Please contact NGV Australia on (03) 8662 1553

For a list of events happening each week at the University including exhibitions and public lectures go to: http://events.unimelb.edu.au/

The Commerce Alumni Society greatly appreciates any donations you would like to make $25

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Or, my cheque of $ made payable to The University of Melbourne is enclosed.

Card no:

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Executive Officer (Development) Faculty of Economics and Commerce The University of Melbourne Victoria 3010

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Contact details Faculty of Economics and Commerce The University of Melbourne Victoria 3010 Tel: 03 8344-2167 Fax: 03 9348-1674 Email: commerce-enquiries@unimelb.edu.au Web: www.ecom.unimelb.edu.au/alumni/ alumni.html Edited by Barbara Hapgood

Or fax to +61 3 9348 1674

Disclaimer The information in this publication was correct at the time of publication. The University reserves the right to make changes as appropriate.

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