2006 Annual Report FBE

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Annual Report 2006 Outlook 2007

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CONTENTS 2

Message from the Dean

4

The University of Melbourne

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Faculty of Economics and Commerce

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Academic Programs

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Research and Research Training

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Internationalisation

15

Staffing

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Distinctions and Awards

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Business and Community

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Statistical Tables

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Research Grants awarded in 2006

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Departmental Profiles

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Centres in the Faculty

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Graduates of the Faculty

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Commerce Alumni Society Report 2006

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Advancement Unit

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People in the Faculty

‘The depth and quality of the research and teaching programs in the Faculty is unparalleled in Australia.‘ Professor Margaret Abernethy

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Professor Margaret Abernethy, Dean

MESSAGE FROM THE DEAN 2006 proved to be another landmark year for the Faculty, our outstanding research and teaching performances were recognised at national and international levels and we made a significant contribution to the implementation of the University’s new strategic plan ‘Growing Esteem.’

Considerable effort was invested in developing the new generation Bachelor of Commerce degree, one of the six new degrees offered through the Melbourne Model.

The Melbourne Model aligns the University more fully with the education framework being implemented across Europe and includes elements of the American liberal education tradition. The new Bachelor of Commerce will offer students flexibility in subject choice and will continue to provide for professional accreditation requirements of key industry associations.

The introduction of innovative undergraduate degrees will strengthen international recognition of Melbourne degrees, position graduates for global employment, provide a curriculum that assists students develop a broader skills and experience base and will differentiate the University within the Australian higher education sector.

The new generation Bachelor of Commerce will offer enhanced pathways into employment, research and the Faculty’s extensive suite of graduate professional and practitioner programs.

During 2006, the Faculty also invested considerable effort into planning for our new Graduate School.

Over 1600 students are now enrolled in more than 20 graduate courses offered at graduate diploma, masters and PhD level. The establishment of the new Graduate School will afford the Faculty the opportunity to fully review the entire range of graduate programs that we offer, ensuring we continue to be at the cutting edge with regard to the industryrelevance of our qualifications.

An element of the review will be to fully embrace the move to graduate-level business education for those with undergraduate degrees across a range of disciplines. The graduate suite of programs is designed to encompass the needs of a diverse group of students. In addition to the continuing need for advanced practitioner and professional programs, the Faculty also delivers programs designed to address demand from students with non-commerce undergraduate degrees. Implementation of the Melbourne Model will act to further increase the demand for both wide-ranging and specialist commerce graduate qualifications, given its streamlined pathways into these programs from Bachelors degrees delivered by other faculties.

The Faculty of Economics and Commerce is a long-standing innovator in business education in this country. The range of reforms in 2006 testifies to this and we are keen to continue this tradition.

2006 saw a succession of national and global achievements that reinforced our position as Australia’s leading business educator. These included: – Playing a significant role in the University of Melbourne winning the largest share of any university of the Commonwealth Government’s 2007 Learning and Teaching Performance Fund (LTPF) and being ranked in the top tier for excellence in teaching.

– All Departments within the Faculty falling within the top 3 in the country in their respective disciplines, in a study of teaching and research quality undertaken by the Melbourne Institute.

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– The establishment of Business@Melbourne as an ‘umbrella brand’ for both the Faculty and the Melbourne Business School, ensuring the two complement each other.

– Success in the awards for Australian University Teaching made by the Carrick Institute for Learning and Teaching in Higher Education in 2006. Professor Nilss Olekalns, Associate Professor Carol Johnston, Mr Paul Andonov and Ms Nahid Khan received the award for their work on the program ‘Assessment for Learning: An integrated and CALM approach.’

– Continued expansion and refinement of the scholarship program for international students and domestic students, ensuring the brightest students regardless of means are able to study with us.

– Ongoing excellent graduate outcomes for undergraduates and postgraduates with high employer demand and salaries well above the national average.

In a notable event for the year, an honorary doctorate was awarded to the Governor of the Reserve Bank, Mr Ian Macfarlane AC. Mr Macfarlane has been acknowledged as the outstanding public economist of his generation in Australia due to his contributions to international economic affairs and in his role in promoting debate on economic policy in Australia.

Faculty graduation events were given a new dimension as our inaugural Valedictorians Harvey Lee (Master of Business and Information Technology), Lisa Krepp (BCom Hons), Melissa Alcorn (BCom/ BInformation Systems) and Yun-Han Lee (BCom) spoke on behalf of fellow graduates to acknowledge and thank those who have supported them during their study.

I also wish to acknowledge and thank two alumni who presented the Occasional Address to the graduating classes, Mr Peter Yates and Mr Tom Elliot who inspired our graduates for their future endeavours.

Our students have embraced community service with students in the Student in Free Enterprise team being acknowledged nationally for their contributions to organisations such as the Yooralla Society. We applaud and support these activities and with the creation of the Advancement Unit our future relationship with business, community and alumni will be enhanced.

In 2007 we will continue to implement initiatives to become the leading Economics and Commerce Faculty in the region and one of the best in the world by: – Clearly defining the paths to international research excellence – Continuing to refine and expand our scholarship programs at both undergraduate and graduate level to ensure that we attract the finest minds into our Faculty – Enhancing our state-of-the-art infrastructure with a commencement of our world class business facility – Diversifying our student mix to enrich the student experience – Boosting links with industry, government and the community to enhance knowledge transfer activities with students and staff – the third strand of the triple helix that underpins the University’s Growing Esteem Strategic Plan Finally, I wish to acknowledge and thank the many friends of the Faculty who have supported and assisted us this past year.

I hope that you will find this report on the activities of the Faculty in 2006 and the profile of the academic and professional staff of interest.

Please do not hesitate to contact the Faculty if you would like more information.

Professor Margaret A. Abernethy Dean

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THE UNIVERSITY OF MELBOURNE Established in 1853, the University of Melbourne is a public-spirited institution that makes distinctive contributions to society in research, teaching and knowledge transfer. The University is consistently ranked as Australia’s premier tertiary institution and achieved an international ranking of 22nd in the world in 2006 by the Times Higher Education Supplement.

Melbourne is a globally significant research institution.

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

The University’s research culture infuses, informs and enhances all aspects of our teaching and learning.

University of Melbourne staff include Nobel laureates, eminent scholars, award-winning researchers and other internationally renowned academics. Across the spectrum of teaching disciplines, Melbourne is part of an international network of scholarship, offering its students excellent academic and research prospects.

The University of Melbourne is a vibrant institution with a reputation for excellence built over 150 years.

Our success has been achieved by insisting on international excellence, and alignment with global best practice in teaching and research.

The University community is made up of 40,000 students including more than 9,000 international students from a least 100 different countries. There are more than 6,500 staff.

The Faculty of Economics and Commerce is one of 12 faculties. The others are the faculties of Architecture, Building and Planning; Arts; Education; Engineering; Law; Medicine, Dentistry and Health Sciences; Music; Science; Veterinary Science, Land and Food Resources and the Victorian College of the Arts. Each faculty offers a range of degrees ranging from bachelors, masters, graduate and postgraduate diplomas. A high proportion of undergraduate students take subjects from more than one faculty and many are concurrently enrolled in degrees from two faculties. The University also confers the Doctor of Philosophy degree and higher doctorates.

The University of Melbourne is a member of the prestigious Group of Eight, comprised of the leading comprehensive research-intensive universities in Australia. In addition, the University is a member of Universitas 21. Universitas 21 is an international network of leading research-intensive universities. Its purpose is to facilitate collaboration and cooperation between the member universities and to create entrepreneurial opportunities for them on a scale that none of them would be able to achieve operating independently or through traditional bilateral alliances.

The main University campus covers 20 hectares and is located at Parkville, 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 campus.

04 Faculty of Economics and Commerce

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FACULTY OF ECONOMICS AND COMMERCE HISTORY 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 for the Bachelor of Commerce degree commenced 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 of Economics and Commerce has always been a pioneer in business education in Australia. It led the way in teaching marketing since the 1930’s and in appointing, in 1954, the first full-time professor of accounting in the country, A.A. Fitzgerald.

The Faculty commenced teaching the MBA degree in 1963 (now taught in the Melbourne Business School).

More recently, master degrees in business and IT, applied finance, international business, applied commerce and accounting have been introduced and a new generation Bachelor of Commerce will be offered from 2008.

During its long history, the Faculty’s student population has changed, from an initial intake in 1925 of predominantly part-time students working in commerce in the city of Melbourne to a significant cohort of full-time students drawn from high-performers both in Australia and overseas.

The Faculty has an extensive alumni body, numbering some 25,000 students who have graduated since its foundation 80 years ago. Many of these graduates now occupy senior positions in business, government and academia, both within Australia and around the world.

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

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 asked 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: – 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 – Provide the highest quality of teaching and training to students drawn from the brightest students in Australia and overseas – Develop close and mutually beneficial relationships with business, government, the not-for-profit sector and the professions, both nationally and internationally.

Teaching and research is undertaken by four Departments: Accounting and Business Information Systems, Economics, Finance, and Management 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 located within the Faculty. Close collaboration exists between departments in both teaching and research.

06 Faculty of Economics and Commerce

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.

Some 7,500 students are enrolled in the various degrees and diplomas offered by the Faculty.

Approximately 5,962 students, representing 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 1,600 students are enrolled in postgraduate diplomas and degrees, including 126 in research higher degrees.

In 2006, the Faculty taught in excess of 7,500 students. Of this load, 41 per cent are Australian students paying under an income contingent loan scheme (HECS) with some government subsidy, 48 per cent are international students and 11 per cent are full fee-paying Australian students.

There are 179 full time equivalent academic staff employed in the Faculty supported by 131 professional staff. The Faculty prides itself on its international reputation, which is fostered by staff and student exchanges with overseas universities. Staff publish in leading international journals and contribute to applied research and policy within Australia.

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2006 FACULTY HIGHLIGHTS The Faculty achieved recognition for teaching and research outcomes and was confirmed as one of the largest and most successful such faculties in Australia The Faculty’s teaching excellence has been recognised with the award from the Commonwealth Government’s 2007 Learning and Teaching Performance Fund (LTPF). Melbourne was ranked No 2 in business and economics for teaching excellence.

In addition, a team of staff from the Faculty of Economics and Commerce’s Teaching and Learning Unit earned the Carrick Award for Programs that Enhance Learning in the category of ‘Assessment and Feedback’. Professor Nilss Olekalns, Associate Professor Carol Johnston, Paul Andonov and Nahid Khan were recognised for their Internet-based subject delivery and assessment system, ‘Critical and Analytical Learning in Macroeconomics (CALM).

Research outcomes in the key discipline areas of accounting and business information systems, economics, finance, management and marketing were recognised through top international and Australian rankings.

Another highlight was the University’s plans to create a cluster of world-class business and law talent and facilities in its University Square precinct. The initiative is one of the recommendations of a report on business education at the University that follows an extensive review of how the University of Melbourne offers business education through two key institutions – the Faculty of Economics and Commerce and the Melbourne Business School which offers MBA programs, and executive education through its Mt Eliza Centre for Executive Education.

The review Report proposed a number of measures to build on the complementary strengths of the Melbourne Business School and the Faculty of Economics and Commerce. The Faculty of Economics and Commerce will relocate to Berkeley Street on completion of the new 12 storey, $118 million learning centre. The Faculty’s commitment to build a world class Graduate School through development of its professional graduate programs as well as its PhD programs will be facilitated by this new state-of-the-art Graduate School being built in the precinct.

Business and Economics are included in the Social Sciences category in which the University ranks equal 77th in the world according to the Shanghai Jiaotong discipline rankings. Similarly, the Melbourne Institute survey of major academic disciplines in Australian universities awarded topped overall ratings for business and economics.

Shown above with a model of the building (from left) are Dean of Economics and Commerce Professor Margaret Abernethy, Joint Managing Director of construction company Probuild, Mr Ted Yencken, and CEO of Metier3, Mr Andrew Norbury

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ACADEMIC PROGRAMS UNDERGRADUATE The Bachelor of Commerce (BCom) is a flexible degree allowing students to shape the course to suit their interests. The degree is designed to develop powers of critical thinking and analysis that can be applied to many fields and equip graduates to enter the world of business. The BCom degree comprises 24 semester-length subjects or the equivalent, taken over three years (full-time) or six years (part-time).

There are five compulsory subjects and students are able to select the remaining 19 subjects from the full range of commerce related subjects and have the opportunity to study non-commerce subjects. In 2007, the clearly-in ENTER for a Commonwealth Supported Place in the Bachelor of Commerce degree was 95.05, representing the top five per cent of students in the State with comparable levels for interstate and international students. Standards of entry for combined degrees were even more competitive.

Foundation, Sudanese Australian Integrated Learning (SAIL), Victorian Law Foundation and Wesley Mission Australia.

The guest speaker at the annual Dean’s Awards ceremony was Professor Sir James Mirlees, Nobel laureate in Economic Science in 1996. Faculty employer groups continue to generously support students with sponsorship of prizes and scholarships.

The Faculty’s eight student societies were again very active offering opportunities for students to network with employers, professional associations and to develop friendships.

Results of the 2005 Graduate Destination Survey were released in 2006, showing Faculty Bachelor graduates continue to perform well. A snapshot of outcomes were: – Of those available for full-time work, 89% were working full-time;

The total number of students enrolled in the Bachelor of Commerce in semester 2 2006, either as a single degree or as a combined degree, was 5654.

– Work sector destination: 86.8% private sector, 10.8% government;

Faculty engagement in 2006 included the VCE Lecture Series; Master Class; UniSummit; school visits and Faculty representation at expos in metropolitan and regional Victoria, as well as on campus activities promoting the Melbourne Experience.

– Mean hours of work per week was 43 and mean age at employment was 23 years;

– Median salary $41,000 (national average for graduates in the field – $37,000);

– 81.8% of Bachelor respondents said they had a paid job in their final year of study;

The VCE Lecture Series attracted some 2000 VCE students studying Accounting, Economics and Business Management. In 2006, 775 high-achieving Year 10 students representing over 110 schools participated in the Master Class. Over 7,000 VCE students and parents visited Faculty staff and facilities during Open Day in August.

– 12% of Bachelor respondents engaged in paid or unpaid career related work as part of their course, while 53% completed work related to their career, outside of their course;

Twenty-eight of the Faculty’s students also engaged with community through the University’s Student Ambassador Leadership Program. As part of this program, each student volunteered 40 hours in the community with organisations including: Australian Red Cross, Edmund Rice Camps, Interchange, Melbourne City Mission, Starlight Children’s

In 2006, the following undergraduate courses were offered by the Faculty of Economics and Commerce: Bachelor of Commerce Bachelor of Commerce (Management) Bachelor of Commerce (Honours)

08 Faculty of Economics and Commerce

– 92% of Bachelor graduates surveyed described their current position as either directly related or somewhat related to their completed course.

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The Bachelor of Commerce (BCom) is a three year full-time program. The honours degree requires a further one year of full-time study. The Bachelor of Commerce aims at developing powers of critical analysis that can be applied in many fields, and provides professional training for a wide variety of professions. The honours program allows students to further develop the specialisation they have undertaken as part of the pass degree.

In 2006, the Bachelor of Commerce and Bachelor of Commerce (Management) were also offered as a combined degree with each of the following: Bachelor of Agricultural Science Bachelor of Arts Bachelor of Arts (Media and Communications) Bachelor of Engineering Bachelor of Information Systems Bachelor of Laws Bachelor of Music Bachelor of Science Each combined course is a five year full-time program after which students graduate with two degrees.

GRADUATE PROGRAMS The Faculty offers a wide range of graduate degrees to suit students at varying stages of their education and career as follows: – Professional Programs – for recent graduates who would like a business qualification to help them start their career or change career path. Entry to these programs does not require work experience and most are designed for applicants who do not have an undergraduate business or commerce degree.

– Practitioner Programs – for experienced professionals looking to accelerate their careers with advanced expertise in their own field, or by developing capabilities in a new area.

– Research Programs – research and research-oriented programs, including the research higher degrees and masters degrees. These programs develop students’ advanced theoretical knowledge and research capabilities in preparation for academic and other research-focused careers.

More than 1600 graduate students were enrolled in masters and research higher degrees programs in 2006 up from 1474 in 2005 and 940 in 2004.

Graduates enjoy excellent career outcomes, rewarding classroom experiences and high levels of support for their academic and professional development.

In 2006, the Master of Business and Information Technology (MBIT) was accredited by the Australian Computer Society as a recognised industry training qualification for information and communication technology (ICT) professionals. The course provides a combination of business knowledge and skills, together with an understanding of the business applications of ICT. Provision of high level career support services is of utmost importance as these professional courses are designed to educate graduates who have chosen to move from another field to the field of commerce.

They are also important to meet the needs of practitioners wanting to advance their careers through higher qualifications.

Through a comprehensive suite of services the Postgraduate Careers Program has been meeting students’ career development needs. The fortnightly Career Minutes eNewsletters keeps students up-to-date with career news and events.

The interactive Career Hours workshops engaged over 250 students in knowledge and skill building activities essential for their career advancement.

These workshops also created opportunities for local and international students to communicate with each other in a relaxed but nonetheless professionally focused environment.

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More than 100 students benefited from personalised career strategy sessions and developed individual plans, spanning from goal clarification through opportunity awareness to industry engagement and setting the stage for future career success.

The Online CV Book has become another channel for students and recruiters to connect. Since its launch in September 2006, many students created their online CV and a growing number of employers use it to tap into the postgraduate talent pool.

Engagement with employers, professional associations and industry experts is also the key to Career Days, offered each semester. Representatives from NAB, KPMG, AXA, Ernst and Young, Victorian State Government, BSI, together with CPA and ICA as well as Westaff and Hudson participated in 2006.

Further moving beyond the walls of the University, a number of students with knowledge and skills congruent with the needs of participating companies had the opportunity to be engaged in paid or unpaid internship during the year. This was with the purpose of delivering maximum benefits to all parties involved by efficiently completing projects while gaining useful corporate work experience.

By delivering these career development opportunities and engagement models the Postgraduate Careers Program has been facilitating knowledge transfer and community engagement. This is in line with firms’ corporate citizenship priorities as well as the Growing Esteem strategy of the University.

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

10 Faculty of Economics and Commerce

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RESEARCH AND RESEARCH TRAINING The Faculty was successful in attracting peer-reviewed research funding, published research findings in the top ranked journals both internationally and nationally and produced PhD and Masters graduates of the highest quality in 2006.

The Faculty has performed extremely well attaining seven ARC Discovery grants commencing in 2007 with a Faculty lead Chief Investigator. This represented a success rate of 43 percent which is a significant achievement given that the national success rate was 20.4 percent. The Faculty was also awarded four new ARC Linkage grants in 2006 demonstrating our commitment to work with industry partners on projects that are relevant and achieve applied outcomes.

The Faculty continues to produce inter-disciplinary research across a number of areas. For example, in the area of health services research, the National Health and Medical Research Council Health Services Program awarded a grant of over two million dollars to Professor Tony Scott and Dr Guyonne Kalb in the Melbourne Institute of Applied Economics and Social Research. They will undertake a longitudinal study of Australian doctors over five years commencing in 2007.

We continue to publish the outcomes of our research findings in the best journals both nationally and internationally. The Faculty’s 2005 DEST publication audit completed in 2006 showed a 54% increase in the number of weighted DEST research publications in comparison with publications for 2004.

We recruit the very brightest research students who work under the guidance of highly qualified and prominent researchers. In 2006 the Faculty congratulated Dr Penny Smith, a former PhD student at the Melbourne Institute of Applied Economic and Social Research, on her award of the Chancellor’s Prize for excellence in the PhD thesis for theses passed in 2005 in the Social Sciences. Penny continues to undertake research at the Melbourne Institute as a Research Fellow.

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Ms Rocio Karibian

INTERNATIONALISATION The Faculty continued to perform extremely well during 2006 in terms of attracting high quality international students and developing links with leading international institutions. Links with our traditional partner countries such as Malaysia, Singapore and Indonesia continue to be of vital importance, but the Faculty recognises the need to work to develop new links as a means to ensure diversity in our student body, to offer students a wide range of opportunities for exchange and to provide staff with opportunities to pursue research and teaching in new regions. The work which the Faculty has put in to developing partnerships in India, Latin America and Europe has led to a number of important institutional linkages as well as increases in enrolments from these regions, and during 2006 we continued to consolidate our position.

Staff of the Faculty made numerous overseas visits during 2006 to profile the Faculty and University, pursue institutional links and to recruit students.

The Associate Dean (International) participated in a senior University delegation, led by the Deputy Vice-Chancellor (International), which visited Chile, Argentina, Brazil, Peru and Colombia. A new agreement was signed with HEC (Paris) providing new opportunities for staff and student exchange.

Students and staff are now able to collaborate with over 100 institutions worldwide.

The Faculty also hosted a number of high-profile visitors and delegations including Professor Eduardo Moron, Research Director of the Business School at Pacifico University in Lima and delegations from Universitas Indonesia and Gadja Madah Universitas.

We also hosted the inaugural Melbourne-India Research workshop, which involved six of India’s leading research economists collaborating with academic staff of the Faculty. In addition, the sixth Joint Research Symposium with the National University of Singapore was held 14-15 December on the topic of Regulation, Governance and Markets in Small, Open Economies.

12 Faculty of Economics and Commerce

The Faculty again sponsored successful Graduate Career and Employer events in 2006 in Shanghai, Hong Kong, Singapore, Kuala Lumpur and Jakarta.

The Faculty continues to develop its suite of scholarships for international students, with a particular emphasis on assisting students from developing countries who might not be able to study at Melbourne without support from the Faculty. In 2006 we also instituted a new fund, which provides for humanitarian assistance to partner institutions and students who are affected by natural disasters or similar events.

Research collaboration with overseas scholars continues to grow in importance. Each department has an active seminar series featuring international researchers and all hosted numerous visitors during 2006.

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STUDY ABROAD AND EXCHANGE OPPORTUNITIES

PARTNER INSTITUTIONS FOR EXCHANGE PROGRAMS

An important part of the Faculty’s and University’s internationalisation agenda is ensuring that our students have a genuinely international experience, by being exposed to international students in Melbourne and having the opportunity to study at partner institutions overseas. The Faculty welcomed over 110 students from study abroad and exchange partners in 2006. Scholarships were made available for students from Melbourne to study at partner institutions overseas and many Melbourne students went on exchange to countries including the UK, USA, Italy, Germany and the Netherlands.

Austria University of Vienna

The Faculty of Economics and Commerce currently has exchange programs with the institutions listed on pages 13-14. Students from these institutions are invited to apply to study within the Faculty. Opportunities exist for current students of the Faculty to study at these institutions also.

Students of institutions not listed are invited to apply for the Study Abroad program within the Faculty.

Canada McGill University Queen’s University University of British Columbia University of Toronto Brasil Universidade de São Paulo Chile Pontificia Universidad Católica de Chile Universidad Adolfo Ibañez Universidad de Chile China (People’s Republic of) Chinese Academy of Sciences Chinese Academy of Social Sciences Fudan University Nanjing University Nankai University Peking University Tsinghua University University of Hong Kong University of Science and Technology of China Colombia Universidad de Los Andes Denmark University of Copenhagen Finland University of Helsinki

France Bordeaux I – University, Sciences, Technologies Bordeaux II – Victor Segalen University Bordeaux III – Michel de Montaigne University Bordeaux IV – Montesquieu University Hautes Etudes Commerciales (HEC) Paris Institut d’Etudes Politiques (Sciences Po) Lyon II – Lumiere University Lyon III – Jean Moulin University Paris VII – Denis Diderot University Germany Albert Ludwigs University Freiburg European Business School Free University of Berlin Humboldt University Technical University of Berlin University of Heidelberg India Indian Institute of Science Indonesia Gadjah Mada University University of Indonesia Ireland University College, Dublin Italy University of Bologna University Ca’ Foscari Venice University of Commerce ‘Luigi Bocconi’ University of Padova University of Perugia University of Siena

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Japan Doshisha University Hitotsubashi University Japan Women’s University Keio University Kyoto University Ritsumeikan University Sophia University Tokyo Institute of Technology

Norway Norwegian School of Economics and Business Administration (NHH) University of Oslo

Korea Korea Advanced Institute of Science and Technology Korea University Pohang University of Science and Technology Seoul National University

Singapore Nanyang Technological University National University of Singapore

Latvia University of Latvia Lithuania Vilnius University Malaysia University of Malaya México Instituto Tecnológico de Monterrey The Netherlands Erasmus University of Rotterdam, School of Management Leiden University University of Amsterdam New Zealand University of Auckland

14 Faculty of Economics and Commerce

Perú Universidad del Pacifico Philippines University of the Philippines

Spain University of Granada University of Salamanca Sultanate of Oman Sultan Qaboos University Sweden Lund University Uppsala University Taiwan National University of Taiwan National Tsing Hua University Thailand Chulalongkorn University Thammasat University United Kingdom Heriot-Watt University University of Birmingham University of Edinburgh University of Glasgow University of Manchester University of Nottingham

United States of America Boston College Georgetown University New York University (Stern Business School) Pennsylvania State University University of California – Berkeley – Davis – Irvine – Los Angeles – Riverside – San Diego – Santa Barbara – Santa Cruz University of Illinois, UrbanaChampaign University of Michigan University of North Carolina at Chapel Hill University of Pennsylvania University of Southern California University of Texas at Austin University of Virginia University of Washington Washington University in St Louis (Olin School of Business)

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Professor Nilss Olekalns

STAFFING Congratulations to the following staff: Dr Xin Chang and Dr Michael Ch’ng were appointed as senior lecturers in the Finance Department.

After 6 years serving as Faculty General Manager, Ms Suzanne Dixon took up the position of Advancement Director in the Faculty.

Mr Brad Hanson was appointed to the role of Manager (Marketing and Communications).

Dr Paul Jensen from the Melbourne Institute was promoted to Senior Research Fellow.

Professor Carol Kulik took up a position at University of South Australia.

Ms Suzanne Dixon

Professor Anne Lillis promoted to professor in the Department of Accounting and Business Information Systems.

Ms Aileen Loi was appointed to the Faculty General Manager role.

Professor Nilss Olekalns, promoted to professor in the Department of Economics.

Ms Jacqueline Randall joined the Faculty as Research Manager.

Professor Graham Sewell, Department of Management and Marketing, returned from a year’s leave as visiting professor at Imperial College, London.

Ms Brooke Young

Ms Brooke Young was appointed Director, Graduate School.

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DISTINCTIONS AND AWARDS Duncan McLean BCom (Hons) 2003 has been named Victorian Young Australian of the Year for 2007 in recognition of his entrepreneurial success and charity work.

An honorary Doctor of Commerce (Honoris Causa) was awarded to Mr Ian Macfarlane AC, the Governor of the Reserve Bank of Australia at a conferring ceremony on 26 April 2006.

Leng Lee, in his final year of a University of Melbourne Bachelor of Laws/Bachelor of Commerce (Hons) degree, won the prestigious 2006 Victorian Rhodes Scholarship and will travel to the United Kingdom next year to begin a Doctorate in Economic Geography at Oxford University.

The Dean’s Award for Excellence in Teaching went to Professor Jeff Borland and for Outstanding Lecturer B Award to Dr David Pitt.

Twenty University of Melbourne students sponsored by the Faculty of Economics and Commerce represented the University in the 2006 Students in Free Enterprise (SIFE) Australian National Competition.

The competition culminated in project presentations, judging and awards in Brisbane, where Melbourne’s SIFE team took second place (to the University of South Australia) – seeing off competition from 28 other universities.

Ms Suzanne Dixon was awarded the Woolworth’s Leadership Travel Award for the 2006 SIFE Australia Most Outstanding Mentor.

Professor Jeff Borland was awarded the Ed Brown Award for Excellence in Teaching.

The Dean’s Prize for Exceptional Distinction in Research and Research Training was given to Dr Shuanming Li. Seven students from Melbourne who went on exchange to New York University in 2006 were awarded Dean’s Honours Roll for their outstanding academic results.

Rob Brown and Sean Pinder were awarded the Australian Publisher’s Award for excellence in tertiary publishing for their Business Finance text book (co-authored with Graham Peirson, Peter Howard and Steve Easton).

On 26 September 2006, the Economic Society of Australia awarded the 2005 best paper prize for an article in the Economic Record to Denise Doiron and Guyonne Kalb for their paper ‘Demands for Childcare and Household Labour Supply in Australia’, in the Economic Record, 81(254), 215-236.

The Carrick Institute Award for Excellence in Teaching and Learning (2006) Assessment and Feedback was awarded to Professor Nilss Olekalns, Associate Professor Carol Johnston, Ms Nahid Khan and Mr Paul Andonov.

Leng Lee (centre) pictured with Professor Jeff Borland and Dean of Economics and Commerce Professor Margaret Abernethy

16 Faculty of Economics and Commerce

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Clarice Santos

Professor Stewart Leech was awarded the Artificial Intelligence/Emerging Technologies Section of AAA 2006 Outstanding Researcher prize. This award recognises a researcher for his/her outstanding published research in the field of AI/ET. In addition, Professor Leech won the best paper award at the recent International Conference on Enterprise Systems and Accounting (in Greece).

Professor Anne Lillis was invited to take on two roles with the American Accounting Association during 2006. Firstly, she was the Management Accounting Section representative for the AAA National Annual Meeting held in August 2007. In addition, Professor Lillis was one of 4 members of the MA Section dissertation award committee in 2006.

Ms Carlin Dowling was presented with the ‘Best Research Paper Finalist’ award at the American Accounting Association Information Systems Mid Year Meeting in Savannah.

Dr Penny Smith, a former PhD student and now Lecturer at the Melbourne Institute of Applied Economic and Social Research, was awarded the Chancellor’s Prize for excellence in the PhD thesis for theses passed in 2005 in the Social Sciences.

Clarice Santos, PhD student in the Department of Management and Marketing was awarded the 2006 Ronald Edwards Scholarship. The Scholarship is awarded by the Australian Human Resources Institute. Clarice’s submission essay was titled ‘Shifts in the labour market balance of power: Implications for future HR practice’.

Christina Scott-Young, PhD student in the Department of Management and Marketing, received two awards at the Academy of Management Conference held in Atlanta, August 2006. Christina’s paper, ‘Modeling Team Efficacy in Capital Projects: an Exploratory Study’ won a Best Paper Award and was also a finalist in the Operations’ Management Division’s Best Student Paper Award. Christina also received an Outstanding Reviewer Award in the Academy’s Organizational Behavior division.

Dr Liliana Bove was awarded the Australian and New Zealand Marketing Academy 2006 Emerging Researcher Award for most outstanding research performance no more than five years after the completion of a PhD.

Dr Liliana Bove (centre) pictured with Professor Rob Lawson (ANZMAC President) and Professor Janet Hoek (Chair of the Awards Commitee)

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Mr Merrill Fernando with his son and Director of Dilmah Tea Marketing, Mr Dilhan Fernando,

BUSINESS AND COMMUNITY Faculty members contribute to professional and public debate through a range of conferences, lectures, short courses and in the print media. In turn, representatives of the business community, government and non-profit bodies provide major input into the activities of the Faculty through membership of advisory boards, and participation in conferences and seminars. Some of the Faculty’s 2006 activities are listed below.

INDUSTRY LINKS During 2006 the Department of Accounting and Business Information Systems established the Department Advisory Committee. The role of the Advisory Committee is to maintain and develop further strategic interaction, on both teaching and research, between the Department of Accounting and Business Information Systems, and representatives of accounting firms, financial institutions, professional bodies, industry and government.

The following sponsors awarded scholarships in 2006: Australian Finance Conference

Ernst & Young

Bain and Company

Goldman Sachs JB Were

Booz Allen Hamilton

Horwath

Citigroup

KPMG

Commercial Travellers Association of Victoria

NAB

CommInsure CPA Australia

Finsia

Oracle Corporation Taxpayers Australia Inc

DDB Melbourne

The Institute of Actuaries of Australia

Deloitte

Tillinghast Towers Perrin

Deutsche Bank

Trowbridge Deloitte

Economic Society of Australia

UBS UMCAS

18 Faculty of Economics and Commerce

Being part of the Economics and Commerce Career Mentoring Program was a significant step towards success for 50 selected graduate students who were matched with industry mentors according to their degree specialisation and interest. In 2006 Mentors came from a very wide range of professional fields from the private and public sectors alike, many of them University of Melbourne alumni, interested to be part of successful mentor-mentee relationships enabling 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 Business Council of Australia, Office of the Premier of Victoria, Department of Innovation, Industry and Regional Development, Department of Treasury and Finance, Deloitte Touche Tohmatsu, JPMorgan Chase Bank Berhad, St George Bank, NAB, AAMI, Cadbury Schweppes, Protiviti, The Nous Group, Ernst and Young, IBM, Synergy Plus, Siemens, Pitcher Partners, and Cubit Media Research.

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From left: Honourable Justice Alex Chernov (Deputy Chancellor), Professor Carol Kulik (Director, Centre for HRM), Professor Margaret Abernethy (Dean), Emeritus Professor Joe Isaac AO and Dr Isabel Metz

CONFERENCES AND WORKSHOPS

PUBLIC LECTURES

A conference entitled ‘Making it Quantitative’ was held on 10 February 2006 and was attended by 110 academics representing more then 36 Australian and New Zealand universities.

Laureate Professors Sir James Mirrlees and Professor Peter Doherty presented a joint seminar on the topic of ‘Economics of Global Catastrophies’ held on 20 March 2006.

The Faculty sponsored the 2006 Financial Management Association of Australia ‘Be Inspired Women’s Forum’ held at Parliament House on 18 May 2006.

Mr Merrill Fernando addressed an Economics and Commerce/Asialink public lecture on business ethics and social justice with his son and Director of Dilmah Tea Marketing, Mr Dilhan Fernando on 28 March 2006.

The Department of Accounting and Business Information Systems hosted the second Asia-Pacific Research Symposium on Accounting Information Systems on 20 June 2006. The symposium provided a forum for leading international and local academics and Australian PhD students to discuss research focusing on the nexus between accounting and business information systems.

The Faculty co-sponsored IndiaConnect held on 29 September 2006 in conjunction with Asialink and the Indian High Commission.

Melbourne Institute and The Australian newspaper held the conference titled ‘Economic and Social Outlook Conference – Making The Boom Pay: Securing The Next Generation Of Prosperity’ on 2–3 November 2006.

The Melbourne Institute runs quarterly forums in Melbourne and Canberra – the Melbourne Economics Forum and the Melbourne Institute Public Economics Forum. Topics in 2006 included: ‘Reforming the Health Care System: Lessons and Future Directions’, ‘Are Deficits a Problem?’, ‘The Dynamics of Economic and Social Change: Insights from HILDA’ and ‘A Skilled Workforce for the Future.’

13 seminars were held in 2006 as part of the Melbourne Institute Seminar Series.

23 workshops were held in 2006 as part of the Melbourne Institute Workshop Series.

Professor John Lyon, Department of Accounting and Business Information Systems gave his Inaugural Professional Lecture on the 30 August 2006, with the title ‘Passive Profits from Accounting Indicators’.

The 21st Foenander Lecture held on 28 August 2006 was delivered by Emeritus Professor Joe Isaac AO entitled ‘Reforming Australian Industrial Relations.’

The 67th Annual CPA / University of Melbourne Lecture was delivered by Mr Kevin Stevenson FCPA, Partner PwC in Global Capital Markets Group (Asia – Pacific) / Assurance on Wednesday 27 September 2006. The theme of the lecture was ‘Fair Value – The Right Measurement Basis?’.

A public seminar with Nobel Laureate, Professor Sir Clive Granger ‘Building Policy Models for Deforestation of the Brazilian Amazon’ was held on 7 September 2006.

The inaugural Institute of Chartered Accountants (Australia) and University of Melbourne Round Table discussion was held in November 2006, addressing the question ‘Is the Annual Report Dead?’ The panel consisted of FRC Chairman Charles Macek; Group CFO of the National Australia Bank Michael Ullmer; Partner in the Technical Consulting Group at Ernest and Young Annett Kimmitt and Professor John Lyon from the Department of Accounting and Business Information Systems at the University of Melbourne.

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STATISTICAL TABLES Table 1 Numbers of Unique Students Enrolled in a Faculty Course in 2006 Course

International students

Total enrolments

BA/BCom BCom BCom(Hons) BCom/LLB BCom/BIS BE(Chem)/BCom BE(Civil)/BCom BE(Comp)/BCom BE(Elec)/BCom BE(Env)/BCom BE(Softw)/BCom BA(M&C)/BCom BCom/BSci BCom/BPC BE(IT)Comp/BCom BE(IT)Elec/BCom BE(IT)Soft/BCom BE(Mch&Mf)/BCom BMus/BCom

30 1685 37 154 41 36 23 6 14 7 10 29 21 17 7 18 14 23 1

642 3129 149 522 275 123 160 8 40 18 40 160 311 104 10 72 52 134 13

Total Undergraduate

2173

5962

Certificates Diplomas Masters (CW) Masters (Res) PhD

0 11 840 1 52

5 33 1434 11 126

Total Postgraduate

904

1609

3077

7571

Total

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Table 2 Full-Year Teaching Load by Nature of Enrolment, 2006 Australian subsidised

International fee-paying

Australian fee-paying

Total

Bachelors (Pass) Bachelors (Honours) Diploma Masters (Coursework) Masters (Research) PhD

1887 103 1 13 6 57

1696 30 8 667 1 54

250 3 15 297 0 1

3833 137 24 977 7 111

Total

2066

2456

565

5087

Level

Note: Components may not add to totals owing to rounding

Table 3 Full-Year Teaching Load by Department, 2006

Diplomas

Higher Degrees (Coursework)

Accounting and BIS Economics Finance Management and Marketing

912 1273 909 876

3 9 7 6

334 143 164 336

12 38 10 55

1260 1463 1090 1272

Total

3969

24

977

117

5087

Department

Undergraduate

Higher Degrees (Research)

Total

Notes: Components may not add to totals owing to rounding Higher Degrees (Research) total includes 2 in MIAESR Economics includes Actuarial Studies

Table 4 Teaching Load, 1996-2006

Year

Other than Higher Degree

Higher Degree

Total

2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996

3993 3997 3840 3793 3570 3264 3073 3147 2864 2621 2330

1094 941 727 571 419 331 266 256 220 174 152

5087 4938 4567 4364 3989 3595 3439 3403 3084 2795 2482

Table 5 Total Operating Revenue by Source Research income 13%

Other 2%

DEST Operating 19%

Student fee income 66%

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Table 6 Number of Academic and Professional Staff by Department Teaching and Research Full-time Casual

Department

Faculty General

Research Only Full-time Casual

Professional Staff Full-time Casual

4.0

0.4

–

–

64.5

4.5

Accounting and BIS

25.9

10.9

–

–

9.6

4.0

Economics

38.0

29.5

1.4

–

15.8

3.3

Finance

22.0

12.9

1.6

–

7.8

2.5

Management and Marketing

41.0

11.1

–

–

14.9

5.6

1.0

–

30.4

–

7.2

1.3

131.9

64.8

33.4

–

119.8

21.2

MIAESR Total

Table 8 Total Operating Expenditure 2006

Table 7 Research and Research Staff by Category Category

60

Number

50

Professor

19.0

40

Above Senior Lecturer

33.6

30

Senior Lecturer

28.7

20

Lecturer

47.0

10

Below Lecturer

Not included in non-salary costs is the University Overhead of $29.866M Scholarship fund transfer of $5M or other costs.

Non-salary Salary

0

3.6

2003

Total

2004

131.9

Table 9 Sources of Revenue 100% 80%

8.4% 18.9%

5.1% 19.1%

5.2% 19.3%

60% 40%

1.6% 12.5%

66.8%

52.9%

57.2%

57.4%

19.8%

18.6%

18.2%

19.1%

2003

2004

2005

2006

Research income Student fee income

20% 0%

22 Faculty of Economics and Commerce

Other

DEST operating grant

2005

2006

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Professor Bruce Grundy

RESEARCH GRANTS AWARDED IN 2006 FOR PROJECTS COMMENCING IN 2007 AUSTRALIAN RESEARCH COUNCIL – DISCOVERY PROJECT SCHEME Administered by the University of Melbourne New Perspectives on Australian Economic History: Geography, Institutions and Major Episodes, Professor J I Borland, Dr A J Clarke, Dr R H Hillberry, Dr L L Uren Managing Transformational Change: A Discursive Approach, Professor C Hardy, Dr S Maguire The Effects of the Tax and Social Security System on Labour Supply and Social Welfare, A/Professor G R Kalb, Professor J Creedy Consumption, Financial Wealth and Housing Wealth over the Long Run, A/Professor G Schwann, Professor G C Lim, Dr Q Zeng Blended Payment Systems for Doctors: Evaluation of an Experiment, Professor A Scott, A/Professor H Britt, Dr P H Jensen New Econometric Evidence on the Roles of SocioEconomic Characteristics and Lifestyle Choices in Determining Child and Adult Health Outcomes, A/Professor M Shields An Econometric Analysis of Labour Market, Health and Educational Consequences of Cannabis Use, Dr J Williams, Dr C L Skeels, Professor J C van Ours, Dr R L Pacula

Awarded to the University of Melbourne Law Faculty with Faculty of Economics and Commerce Chief Investigator Enforcement of Chinese Employment Law: Regulatory Innovation and Wage Arrears Dr S Cooney, Dr SC Biddulph, A/Professor Y Zhu* Awarded to Other Institutions with Faculty of Economics and Commerce Chief Investigators Bayesian Inference for Welfare Comparisons of Income Inequality and Poverty, Dr D Chotikapanich, Professor WE Griffiths* Administering Organisation: Monash University Storage and the Hotelling Valuation Principle: Understanding the Dynamics of the Oil Industry, Professor RA Heaney, Professor BD Grundy* Administering Organisation: RMIT University Estimation and Inference in Weakly Identified Models, Professor DS Poskitt, Dr CL Skeels*, Dr G Forchini Administering Organisation: Monash University Understanding the Saving Behaviour of Australian Households: Private Retirement Provision and the Policy of Forced Saving, A/Professor GF Barrett, Dr TF Crossley, Dr Y Tseng* Administering Organisation: The University of New South Wales

AUSTRALIAN RESEARCH COUNCIL – LINKAGE GRANT SCHEME Modelling the Adoption and Use of Virtual Services Technologies for Rural and Regional Healthcare: Economic and Quality of Care Perspectives, A/Professor M J Davern, A/Professor K E Stagnitti, Professor C B Ferguson Industry Partner: Southwest Alliance of Rural Health (SWARH) Risk Management Policies and Practices of Major Australian Firms, Professor KT Davis, A/Professor CA Brown, Dr L Coleman Industry Partner: Ernst & Young, The Finance and Treasury Association Modelling Factors Affecting the Long term Demand for and Supply of Professional Accounting and Allied Services in Rural and Regional Australia, Professor C B Ferguson, Professor B J Cooper, A/Professor G L Wines, A/Professor B F Jackling Industry Partner: CPA Australia Economic Modelling of the Nurses’ Labour Market in Australia, Professor A Scott, A/Professor M Shields, Professor J Creedy, A/Professor GR Kalb, Professor CM Duffield, Ms MV McCarty Industry Partner: Department of Human Services

*University of Melbourne investigator

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MELBOURNE CENTRE FOR FINANCIAL STUDIES RESEARCH GRANTS (FUNDING FOR 2007)

Page 24

THE UNIVERSITY OF MELBOURNE EARLY CAREER GRANTS

The Impact of Anonymous Trading on SFE Market Microstructure, Dr Sean Pinder and Associate Professor Christine Brown

Accounting and Business Information Systems Peer-To-Peer Music Piracy: Control from the File Provider Perspective, Dr Nena Lim

International Evidence on the Other January Effect, Dr Sean Pinder and Professor Steve Easton (University of Newcastle)

Economics Determinants of the Longevity of Workers’ Compensation Insurance Claims, Mr David Pitt

A Consistent Framework for Stressing Credit Risk Parameters, Dr Harald Scheule

Finance Forecasting Market Prices of Collateralized Debt Obligations, Dr Harald Scheule

Revealing Market Expectations with Derivatives, Professor Bruce Grundy et al Understanding the Risks in and Rewards for Pairs Trading, Dr Michael Chng and Dr Aihua Xia Dividend Strip and Information Revelation, Dr Qi Zeng

NATIONAL HEALTH AND MEDICAL RESEARCH COUNCIL – HEALTH SERVICES RESEARCH PROGRAM Understanding the Dynamics of the Medical Workforce to Improve Population Health and Equity of Access: the Australian Longitudinal Survey of Doctors, Professor A Scott, Dr G Kalb

24 Faculty of Economics and Commerce

Management and Marketing Emotion: The Missing Ingredient in the Ethical Decision-Making Process, Dr Virginia Bratton

FACULTY RESEARCH GRANTS Accounting and Business Information Systems Auditors’ Responsibility for Fraud Detection – Bridging the Expectation Gap, Dr Susanna Ho, Dr Paul Coram A Cross-Cultural Examination on Software Project Escalation, Dr Gary Pan Economics Comparison of Alternative Identification Strategies for Estimating Treatment Effects in the Presence of Unobserved Confounders, Dr Liana Jacobi

Marginal Effects for Binary Response Models with Nonlinear Regressors, A/Professor Jeanette Lye, A/Professor Joseph Hirschberg Impact of Mergers and Licensing Agreements on Product Variety in Markets with Free Entry, Dr Nisvan Erkal Redistribution Preferences in Australia, the UK and the US: An Experimental Investigation, A/Professor Lata Gangadharan, Dr Nisvan Erkal, Dr Nikos Nikiforakis Feedback Effects in Public-Good Experiments with Punishment, Dr Nikos Nikiforakis Finance Corporate Governance, Managerial Ownership, and Capital Structure Choices, Dr Xin Chang, Dr Chander Shekhar Consumption, Financial Wealth and Housing Wealth, Dr Qi Zeng, A/Professor Greg Schwann Management and Marketing Righting the wrong: Repairing organisational relationships after psychological contract violations, Professor Carol Kulik, A/Professor Christina Cregan Challenges to Devolving Human Resource Responsibility in China: Investigating the Psychological and Contextual Antecedents of Supervisory Deviation from Corporate Policy, Dr Ying Zhu, Dr Adam Barsky

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Design Orientation – A Grounded Theory of Decision-Marketing Interface, Dr Michael Beverland The Internationalisation of the world’s largest multinational companies over time, Dr Thomas Osegowitsch, Dr Andre Sammartino Green Supply Chain Practices in Australian Manufacturing Industry, Dr Damien Power Melbourne Institute of Applied Economic and Social Research Forecasting Australian Macroeconomic Time Series with a Large Variable Set, Dr Penelope Smith, Mr Chin Nam Low Micro Evidence from the Westpac – Melbourne Institute Consumer Sentiment index: A Vector Autoregression Analysis, Dr LeiLei Song, Dr Chew Chua, Mr Chin Nam Low

FACULTY EARLY CAREER RESEARCHER GRANTS Accounting and Business Information Systems Personalized Search Engines: Reconciling Searching Behaviour with Search User Interfaces, Dr Susanna Ho Management and Marketing An Examination of the CustomerEmployee Dyadic Fit in Service Relationships, Dr Elison Lim

Page 25

PHD THESES COMPLETED George Lap-Bin Wong, Risk Aversion and Conservatism En Te Chen, Initial Public Offering and Use of Funds Ngan Collins, The Transformation of Employment Relations in Transitional Economics: The Case of Vietnam Simon Pervan, Reciprocity as a Fundamental Process in Relationship Marketing: Scale Development and Validation Omar Merlo, The Influence and Strategic Standing of Marketing within Organizations Dayna Simpson, Greening the Supply Chain: Customers, Suppliers and Efficient Manufacturing Lisa Hughes, An Investigation of Individual and Workplace Outcomes of Trade Unions and HRM in Australia Abdullahi Dahir Ahmed, Financial Liberalization, Corruption and Economic Development: The Case of Sub-Saharan Africa Shirley Suat Chan, Lee Real Exchange Rate and Productivity Isabel Faeth, Foreign Direct Investment in Australia – Determinants and Consequences Maureen Therese Foley, Vertical Restraints in Australian Industry

Hayat Khan, Modelling the Impact of Demographic Change Upon a Small Open Economy: An Over Lapping Generations Model Kinga Elo, Foreign Direct Investment Decisions with Country Risk and Barriers to Capital Movements: the Special Case of Capital Controls Mohammad Alaqeel, Private Information Trading: Evidence from GCC Countries Carlin Dowling, The Antecedents of Appropriate Audit Support System Use Susan Robertson, An Examination of the Relationship Between Performance Based Compensation Schemes and Performance Measurement Manipulation

MASTER OF COMMERCE

BY RESEARCH Jason McGovern, Sino-Foreign Joint Ventures: A Multi-Party Perspective on Control and Performance

MASTER OF COMMERCE IN EMPLOYEE RELATIONS AND HUMAN RESOURCE MANAGEMENT Stephanie Lagogiannis, The Effects of Diversity Management on Culturally Diverse Workgroups

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MASTER OF COMMERCE (BY THESIS) FINANCE Lisa Schutz, Credit Bureaus and the Dynamics of Information Sharing in Credit Markets

FACULTY HONOURS (RESEARCH) SCHOLARSHIPS In 2006, 18 Honours students were awarded studentships to work with academics to develop their research essays into publishable journal articles.

Accounting and Business Information Systems D Kang, To What Extent Do Information Technology Governance Mechanisms Affect Within-Firm Fraud?

E Michaels, Zero Earnings Surprises J Tan, Compensation Method Designs and Investments in Learning Economics D Piccinin, The Effects of Mergers with Entry in Markets Featuring Product Differentiation and Bertrand Competition T Rigzin, Guest Worker Remittances from the Tibetan Host Economy L Tan, The Relationship Between Personal Income and Net Worth in Australia D Wilson-Otto, Poverty, Aid and Pro-Poor Public Expenditure in Sri Lanka

26 Faculty of Economics and Commerce

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K Yates, Extended Producer Responsibility: A Solution to Market Failures in the Choice of Environmental Product Characteristics Finance J Agar, Earnings Quality, Unexpected Volume and Opinion Divergence: A Study of PostEarnings Announcement Drift E Oon, The Effect of Audit Quality on Initial Public Offerings in Australia W Pang, Marching to a Different Drum: Initial Public Offerings of ASX Listed Property Trusts D Sakti, Markov Chain Monte Carlo Simulations of Nonparametric Models of the Australian Short Rate and the Market Price of Interest Rate Risk: An Empirical Study G Saldanha, Hedging, Speculating and Price Volatility in Commodity Futures Markets C Shih, Keiretsu Membership, Market Timing and Capital Structure D Taylor, Who Really Wins in Stock Market Driven Acquisitions?

Management and Marketing S Mangan, Gender Role Orientation in the Boundaryless Career S McArdle, The Psycho-Social Construct of Employability: Investigating the Role of Proactive Personality, Identify Awareness and Human and Social Capital During Unemployment

L Wang, An Investigation of the Magnitude of Customer and Service Worker Relationships

VISITING RESEARCH SCHOLAR GRANTS The following international visitors were supported in 2006.

Accounting and Business Information Systems Professor S Anderson (Rice University, USA) Professor P Easton (University of Notre Dame, USA) Professor J Francis (University of Missouri, USA) Professor S Sutton (University of Connecticut, USA) Economics Professor N Gemmell (The University of Nottingham, UK) Professor C Hill (Louisiana State University, USA) Professor J Kennan (The University of Wisconsin, USA) Professor J van Ours (Tilburg University, The Netherlands) Melbourne Institute of Applied Economic and Social Research Professor R Drago (Pennsylvania State University, USA) Professor I Theodossiou (The University of Aberdeen, UK)

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Professor Stewart Leech, Head, Department of Accounting and Business Information Systems

Professor Jeff Borland Head, Department of Economics

DEPARTMENTAL PROFILES DEPARTMENT OF ACCOUNTING AND BUSINESS INFORMATION SYSTEMS The Department of Accounting and Business Information Systems, long-established as a premier educator in the field of accounting, offers an integrated approach to the teaching of accounting and business information systems With a student load of over 1,200 full-time equivalent students, the Department has a substantial undergraduate and postgraduate program, teaching across all areas of managerial and financial accounting, auditing and business information systems. The Department’s core undergraduate subjects are fully accredited by the professional accounting bodies.

Formal agreements have been reached with a number of Universitas 21 universities for the transfer of credits for subjects in accounting. The Master of Applied Commerce (Accounting), introduced in 2003, is also fully accredited by the professional accounting bodies.

The Department has a strong research profile. Its PhD program, comprising one year of coursework and two-year full-time thesis, is one of the most active and respected in the region. Several of the Department’s 30 academic staff currently hold ARC grants and serve on the editorial board of a number of leading international academic journals.

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 67 teaching and research staff. The Department 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.

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Professor Paul Kofman Head, Department of Finance

Associate Professor Bryan Lukas Head, Department of Management

DEPARTMENT OF FINANCE

DEPARTMENT OF MANAGEMENT AND MARKETING

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 now has 25 full-time academic staff, 6 full-time professional staff and a large number of sessional teaching staff. In 2006, the Department of Finance had approximately 8,700 subject enrolments, of which 7,100 were undergraduate, and 1,600 were postgraduate students. The Department has a particularly strong honours program with intake restricted to around 40 of the very best undergraduate students. A suite of postgraduate programs is offered, ranging from the practitioner-oriented Master of Applied Finance and Master of Financial Management to the more academically-oriented Master of Commerce in Finance and the PhD in 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 and international finance. The Department is particularly strong in derivatives research, with the Melbourne Derivatives Research Group as a focal point. To support its research activities, the Department has access to all major financial databases, including WRDS, Datastream, Bloomberg and IRESS. The Department of Finance is committed to knowledge transfer. The Department is one of the founding members of the Melbourne Centre for Financial Studies, established in 2005 to foster a partnership between public and private sectors, and industry and academe. Department staff members offer tailored executive education programs, actively participate in professional associations, and are frequently invited to consult for the finance and corporate industry and for the public sector. In exchange, finance practitioners actively participate in our teaching programs, by providing applied topics lectures in our undergraduate finance program and by lecturing specialist subjects in our professional postgraduate programs.

28 Faculty of Economics and Commerce

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 management, organisational studies and operations management. The main competence areas in marketing are marketing management and consumer behaviour.

At the undergraduate level, the Department has offered a Bachelor of Commerce (Management).

There are also a number of professional and practitioner Masters-level degrees offered by the Department. The overarching pedagogical aim of the Department is to develop in students strong leadership capabilities in the practice of management and marketing.

The student load in the Department is over 1,200 full-time equivalents, with over 750 undergraduate and 250 postgraduate students. There are 12 honours students and over 55 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 2006.

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Professor John Freebairn, Director, Melbourne Institute of Applied Economic and Social Research

THE 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 five Directors: Ronald Henderson, Peter Dixon, Richard Blandy, Peter Dawkins and John Freebairn. In its 45 year history it has made significant contributions to economic and social research on Australia and contributed strongly to economic and social policy analysis and development.

In 2006, it had a staff of about 40 as well as 13 Adjunct Fellows. The Institute operates in four research areas: – Labour Economics and Social Policy – Applied Macroeconomics – Applied Microeconomics including: – Industrial Economics – Economics of Health – Household, Income and Labour Dynamics Survey As well as contributing strongly to the academic literature in economics, both in Australia and internationally, the Melbourne Institute has a longstanding tradition of working closely with business, government and community groups by providing research and consultancy services.

During 2006, major clients of the Melbourne Institute included the Australian Government Department of Families, Community Services and Indigenous Affairs (FaCSIA) and Employment and Workplace Relations (DEWR), Victorian Departments of Treasury and Finance and Human Services, Westpac Banking Corporation, Mercer Investment Consulting, ING DIRECT, TD Securities and the Reserve Bank of Australia as well as the University of Melbourne.

The Melbourne Institute has also been successful in winning substantial ARC funding, both Discovery and Linkage grants. A noted success in 2006, was the NHMRC grant won by the Health division in the Applied Microeconomics team.

Currently, the Melbourne Institute has a major research contract for the provision of social policy research with DEWR. The Melbourne Institute is also the home of Australia’s major household longitudinal survey of Household, Income and Labour Dynamics (HILDA), which is led by the Melbourne Institute’s Deputy Director, Professor Mark Wooden, under a contract with the Commonwealth Department of Families, Community Services and Indigenous Affairs.

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 (AER), which has a strong policy focus and is of widespread interest beyond the academic community as well as inside academia. In 2006, the AER was included in the prestigious Social Sciences Citation Index (only the second non-specialist economics journal from Australia to be included).

In 2006, the Melbourne Institute continued to publish the Mercer-Melbourne Institute Quarterly Bulletin of Economic Trends a quarterly journal focussing on the Australian economy and aimed at broad audiences.

The Melbourne Institute publishes regular economic indicator reports such as the Westpac–Melbourne Institute Indexes of Economic Activity; the Westpac– Melbourne Institute Consumer Sentiment Index; the ING DIRECT–Melbourne Institute Household Saving and Investment Report; and the TD Securities– Melbourne Institute Monthly Inflation Gauge.

Annual Report 2006 Outlook 2007 29

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Professor David Dickson, Director, Centre for Actuarial Studies

CENTRES IN THE FACULTY THE CENTRE FOR ACTUARIAL STUDIES

THE ASIAN ECONOMICS CENTRE

The Centre for Actuarial Studies is located in the Department of Economics within the Faculty of Economics and Commerce. The Director of the Centre is Professor David Dickson.

The Asian Economics Centre is located within the Department of Economics and serves as a forum for bringing together those with an interest in research on Asian economies and economic development issues.

The Centre offers students a professionally accredited actuarial program and is designated as a Centre of Excellence by the Institute of Actuaries of Australia.

The Centre’s objectives are:

Graduates who obtain marks above prescribed levels in certain subjects can receive exemptions from the Institute of Actuaries of Australia and/or the Institute/Faculty of Actuaries (UK). The Centre also offers distance education.

Staff within the Centre are active researchers with actuarial interests ranging from the more theoretical to the practical. Staff interests necessarily span the full spectrum of expertise required for professional accreditation, but the Centre is internationally known for its research in the areas of ruin theory and financial mathematics.

The Centre’s research is highly recognised on the international scene and adds strongly to the reputation of the Centre. The international links of the Centre are also evident with regular visits from leading academics and a number of students involved in exchange programs.

The Centre maintains strong links with the actuarial profession and related areas within Australia.

These links are highlighted by the presence of high profile actuaries on the Centre’s Advisory Board and the University of Melbourne Actuarial Foundation.

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– To initiate and develop research into Asian economies and Australia-Asia economic relations, and build collaborative links and partnerships with Australian and international research groups engaged in similar research.

– To foster and promote informed discussion on the economics of Asian countries within academia, business and industry, the government sector and the wider public.

– To encourage and provide advice on the teaching of subjects related to economics of Asian countries at the undergraduate, graduate and continuing education levels. The Director of the Centre is Associate Professor Sisira Jayasuriya.

THE ECONOMIC THEORY CENTRE The key objectives of the Centre are to facilitate international affiliations and international research linkages, including for research training, and to be a focus for external research funding in economic theory.

The Centre is jointly operated with Melbourne Business School. The Director of the Centre is Professor Joshua Gans. The Centre has a distinguished international Advisory Board.

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THE CENTRE FOR MICROECONOMETRICS Located within the Department of Economics, the Centre for Microeconometrics is a focal point for research in microeconometrics. Its members, staff and PhD students drawn from the Department and the Melbourne Institute of Applied Economic and Social Research, are concerned with the development, evaluation and application of microeconometric methods. Branches of economics currently researched by the Centre include consumer expenditure analysis, environmental economics, labour economics, health economics, transport economics, measurement of inequality and poverty, and measurement of productivity and efficiency. Methodological research includes panel data methods and discrete choice modelling and estimation.

The Centre hosts national and international visitors, holds regular workshops to discuss work in progress, and holds occasional conferences involving other researchers from within and outside Australia, including groups from industry and government departments.

The Centre held a one-day workshop on 17 November, 2006 at which the presenters were Mike Shields, Jenny Williams and Andrew Clarke (University of Melbourne), David Card (University of California, Berkeley), Dean Hyslop (New Zealand Treasury and Statistics) and Ioannis Theodossiou (University of Aberdeen).

Frank Vella, Georgetown University Darrell Turkington, University of Western Australia Phillip McCalman, University of California, Santa Cruz Antony Selvanathan, Griffith University Jan van Ours, Tilburg University Anne Line Bretteville-Jensen, Institute for Alcohol and Drug Research, Norway.

David Card, University of California, Berkeley.

Thor Thoresen, Statistics Norway.

Norman Gemmell, University of Nottingham Andrew Jones, University of York Paul Frijters, Queensland University of Technology John Haisken-DeNew, Rheinisch-Westfälisches Institut für Wirtschaftsforschung The Director of the Centre is Professor Bill Griffiths.

THE CENTRE FOR MACROECONOMICS The Centre for Macroeconomics is a joint centre of the Department of Economics and the Melbourne Institute of Applied Economic and Social Research. The main objective of the Centre is to foster research, research training, and teaching in macroeconomics at the University of Melbourne.

The Centre seeks to: – facilitate international affiliations and international research linkages – facilitate the training of research students

Visitors to the Centre

– be a focus for external research funding

The Centre hosted the following visitors in 2006: James Heckman, University of Chicago Andrew Leigh, Australian National University Deborah Cobb-Clarke, Australian National University Chris Ryan, Australian National University Carter Hill, Louisiana State University Harry Paarsch, University of Iowa Chikako Yamaguchi, Australian National University Mushfiq Mobarak, University of Colorado, Boulder Cheryl Doss, Yale University

– organise conferences and workshops – encourage research-based policy advice The Centre has been involved in the organisation of the Australasian Macroeconomics Workshop, has hosted international and Australian visitors and has a weekly seminar series. Members of the Centre research topics such as monetary and fiscal policies, the analysis of business cycles, interactions between the labour market and the economy, and the linkages between the domestic and world economies. The Director of the Centre is Professor Nilss Olekalns.

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THE AUSTRALIAN CENTRE FOR INTERNATIONAL BUSINESS ACIB seeks to conduct leading-edge 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 to be realised early in 2007 is publication of Dick & Merrett (eds), The Internationalisation Strategies of Small-Country Firms: The Australian Experience of Globalisation (Elgar, Cheltenham, UK). Members of the Australian 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.

During 2006 three new ACIB working papers and one new Melbourne Asia Policy Paper were published on the website http://www.ecom.unimelb.edu.au/acib/.

ACIB is represented at the Academy of International Business (AIB)/ANZIBA, PACIBER and AUSPECC. It also hosts the joint editorship of the Australian Economic History Review (Stephen Morgan) and the Southeast Asia Publications Series of the Asian Studies Association of Australia (Howard Dick).

Co-Directors of the Centre are Professors David Merrett and Howard Dick.

CENTRE FOR GLOBAL INNOVATION MANAGEMENT (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.

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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. The Centre carries out research funded by the Australian Research Council (ARC) and the Department of Education Science and Training (DEST), and undertakes contract and joint project research with collaborators through the European Union research framework programme.

In December 2006, the Centre was awarded a DEST grant under the International Linkages programme to undertake a collaborative research program with European partners funded under the EU 6th Framework Program. The project is titled ‘Ambient Intelligence technology for Systematic Innovation in Manufacturing SMEs.’

FOUNDATION FOR SUSTAINABLE ECONOMIC DEVELOPMENT The Operations Management area also hosts the Foundation for Sustainable Economic Development.

The Foundation was established in 2000 with a mission to create and disseminate research to increase the awareness and effectiveness of management practices that deliver better organisational performance and less wasteful products and processes.

The Foundation has produced a number of research papers and commissioned reports. The Foundation published The Collaborative Games in 2001. A significant project has been on corporate sustainable development, funded by the Australian Business Foundation. The Foundation’s latest project involves a significant multi-university ARC Linkage project on ‘Work and Social Cohesion’.

The Director of the Centre is Professor Danny Samson.

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THE CENTRE FOR HUMAN RESOURCE MANAGEMENT The Centre researches human resource management and employment relations in the Asia-Pacific region, North America and Europe.

In line with its international outlook, the Centre encourages collaborative research projects with leading overseas universities and arranges research of international scholars in the fields of human resource management and employment relations.

The Centre also works with Australian businesses and government institutions on both collaborative and consultative projects and facilitates research opportunities with the professions, employers, trade unions and governments (including government departments). Research findings are disseminated through academic publications, working papers, seminars and conferences.

The Director of the Centre is Professor Michelle Brown.

THE INTERNATIONAL CENTRE FOR RESEARCH IN ORGANIZATIONAL DISCOURSE, STRATEGY AND CHANGE The International Centre for Research in Organizational Discourse, Strategy and Change was launched in 2001 with the aim of establishing itself as a world leader in organizational discourse. The Centre is located in the Department of Management and Marketing, and is headed in Melbourne by Professor Cynthia Hardy.

From the original institutional partners – the University of Melbourne, the University of Sydney and McGill University (Centre for Strategy Studies in Organizations) – the Centre has grown to include the University of Cambridge, the University of Leicester, Lund University, Texas A & M University, Cardiff Business School, and the University of Colorado.

The Centre’s objectives are: – to establish a leading group of world class scholars in organizational discourse in order to facilitate research on organizational discourse, strategy and change – to encourage collaborative research projects among leading universities in the field of organizational discourse – to disseminate research findings on discourse analysis and its applications through academic publications, seminars and conferences – to facilitate research and teaching interchanges among scholars who work in this area – to increase opportunities for researchers interested in discourse analysis to interact through specific initiatives, such as workshops, conferences, etc.

– to facilitate collaborative links regarding research and postgraduate training in the field of organizational discourse.

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 research publications on the role of discourse in organizations.

INTELLECTUAL PROPERTY RESEARCH INSTITUTE OF AUSTRALIA The Intellectual Property Research Institute of Australia is a collaborative centre of the Faculty of Law, the Faculty of Economics and Commerce, and the Melbourne Business School. It has core funding from IP Australia.

The Director of the Institute is Professor Andrew Christie, Faculty of Law. The Associate Director, from the Faculty of Economics and Commerce is Dr Elizabeth Webster. Other contributors from this Faculty include Drs Paul Jensen, Alfons Palangkaraya, Jongsay Yong, Nisvan Erkal, Michael Chua; Professors Bill Griffiths and Don McLaren and Ms Anne Leahy.

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THE MELBOURNE CENTRE FOR FINANCIAL STUDIES The Melbourne Centre for Financial Studies has been created to help develop the reputation of Melbourne as a centre of financial research, education and practice. It is the result of an initiative of, and seed funding by, the Victorian Government. It is a joint venture of a consortium of Melbourne, Monash and RMIT Universities, together with Finsia, who have all committed financial and in-kind support.

The strategic positioning of the Centre is based on: – increasing general awareness of the extent of the overlap in research interests between ‘town and gown’ – encouraging further development of that overlap in Melbourne – identifying mutually beneficial opportunities for ‘town and gown’ by developing superior knowledge about research interests and needs and the location of skills and information necessary to meet those needs.

The Melbourne Centre activities include: – identifying and communicating information about research opportunities for mutual benefit of ‘town and gown’ – developing a database of knowledge and skill sets available – facilitating interaction (matching demand for and supply of specific research activities) between ‘town and gown’ – publicising outcomes from such interaction to increase awareness of the potential benefits – developing and exploiting commercial opportunities arising from research activities facilitated and from its positioning in the market for financial research – funding high quality academic research which will enhance the international reputation of Melbourne as a centre of financial research, practice and education.

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The research agenda of the Melbourne Centre involves an emphasis on innovative, cutting edge research which provides opportunities for the further development of the Melbourne finance industry as a result of the accumulation of knowledge capital.

Identifying areas of potential strengths which can be capitalised upon, and new and emerging markets where opportunities exist is crucial to this role. In that regard, the Melbourne Centre has established an Industry Advisory Committee of prominent finance industry practitioners to provide input and advise on the direction of its research agenda.

The Director of the Centre is Professor Kevin Davis.

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GRADUATES OF THE FACULTY Graduates of the Faculty over the last 76 years have been leaders in business, public policy and academia. Below is a list of current prominent alumni.

BUSINESS Ms Elizabeth Alexander (AM), Chairperson, CSL Limited Mr Philip Brass, Non-Executive Director, Globe International Mr Anthony Burgess, Head, Mergers and Acquisitions Europe, Deutsche AG

Mr David Crawford, Allens Arthur Robinson

Mr Paul Rizzo, Director, National Australia Bank Limited

Ms Gloria Goh, Ernst & Young, Malaysia

Mr Irvin Rockman (CBE), Chairman, Northrock Group

Mr Charles Goode (AC), Chairman, ANZ Bank

Mr Irving Saulwick (AM), Chairman, Irving Saulwick & Associates

Ms Merran Kelsall, Director, Melbourne Water Corporation

Mr Peter Scanlon, Founder, Scanlon Foundation

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

Russell Kennett, Managing Director, State Street Bank and Trust Company

Mr Robert Champion De Crespigny (AC), Executive Chairman, Scarborough Minerals PLC

Mr David Kingston, Executive Director, NM Rothschild & Sons

Mr Asgari Stephens, Executive Director, iSpring Capital

Mr Leon L’Huillier, Director, Woolworths Group

Ms Lei Tan, CEO, Tan and Tan Developments Berhad

Mr Dick Chan, Executive Chairman, Anglo Eastern Plantation PLC, UK

Mr Alwyn Lim, Principal, Alwyn Lim & Co

Mr Mark Chiba, Chairman, Longreach Group

Mr Alastair Lucas, Vice-Chairman and Managing Director, Goldman Sachs JB Were

Mr Christopher Thomas, Managing Partner, Egon Zehnder International SA

Ms Penny Chong, Program Manager, Marketing Operations, IBM

Mr Gary Morgan, Executive Chairman, Roy Morgan Research

Mr William Conn (OAM), Consultant, Merril Lynch Mr Laurence Cox (AO), Executive Director, Macquarie Bank Limited

Mr Hugh Morgan (AC), Principal, First Charnock Mr Rupert Myer (AM), Chairman, Myer Family Company Pty Ltd Mr Tjahaja Riady, Deputy Chairman, Pelita Harapan Educational Foundation

Ms Nicola Scott, Head of Finance, HBOS Treasury Services

Mr Brian Watson, Executive Chairman, Georgica Associates Pty Ltd Mr David White, Director, Hawker Britton, Melbourne Mr Peter Yates, Managing Director, Allco Equity Partners Ltd Mr Eu Yeow, Minolta Marketing Sdn Bhd

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Emeritus Professor Ross Williams

PUBLIC SERVICE The Hon John Brumby, Treasurer, Department of Treasury and Finance, Victorian Government Mr Michael Carmody (AO), Chief Executive Officer, Australian Customs Service The Hon Senator Rod Kemp, Senator for Victoria, Federal Government The Hon Jenny Macklin, Shadow Minister for Indigenous Affairs and Reconciliation, Federal Government Professor Carrick Martin, Chairman, Professional Standards Board for Patent and Trade Marks Attorneys, IP Australia Dr Datuk Mustapa Mohamed, Higher Education Minister, Prime Minister’s Department, Malaysia

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Judith Sloan, Commissioner, Productivity Commission Senator Mechai Viravaidya (AO), Founder and Chairman, Population and Community Development Association, Thailand Mr Ian Watson, Senior Deputy President, Australian Industrial Relations Commission Dr Lynne Williams, Deputy Secretary – Business Support, Dept of Innovation Industry and Regional Development Emeritus Professor Ross Williams, Professorial Fellow MIAESR, The University of Melbourne, Member, Commonwealth Grants Commission, Australian Government

HIGHER 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 Emeritus Professor Colin Geoffrey Harcourt, Cambridge University, Jesus College 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, The University of Melbourne Dr Fred McDougall, Deputy Vice-Chancellor (Academic), The University of Adelaide Professor Gary Sampson, Visiting Professor, INSEAD

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THE UNIVERSITY OF MELBOURNE COMMERCE ALUMNI SOCIETY REPORT 2006 The University of Melbourne Commerce Alumni Society (UMCAS) has had another successful year bringing together alumni of all ages to a wide range of events. Highlights for the year include: – May 2006: A Young Alumni Function was held featuring Mr Alistair Lucas, Vice Chairman and Managing Director of Goldman Sachs JB Were.

Alistair talked about the state of the investment banking industry to an audience of attentive graduates and students.

– July 2006: UMCAS held its Annual General Meeting at Ormond College followed by the AGM dinner.

Our guest speaker at the dinner was the Hon Jim Short, who has had a successful career in the Australian Federal Treasury and Parliament, which included the ministerial post of Assistant Treasurer.

Speaking from his experiences and observations, Jim put forward ideas as to whether Australia is a better place to live and whether the nation is better governed since he first entered parliament.

– October 2006: Another Young Alumni function hosted at KPMG’s Melbourne office with Mr Tom Elliott of MM&E Capital. Tom discussed the scale of change in financial markets and world wide changes in modern business thinking over the last two decades.

– November 2006: On 16 November the annual alumni reunion lunch for Commerce alumni who graduated over 45 years ago was held in the University Student Union Building, Upper Dining Hall. This event always attracts a nostalgic group of alumni who enjoy reminiscing about their University experience. Attendees heard the Dean, Margaret Abernethy, talk about the state of the Faculty, and the current expansion and development plans.

In addition to events, alumni were kept informed by Alumni Matters the Faculty’s newsletter designated to alumni with information on developments in the Faculty and news of alumni events are included in the newsletter which is mailed by the Faculty twice a year to all Commerce graduates.

Another vital aspect of UMCAS is the provision of two $2000 scholarships awarded yearly to outstanding final year Commerce students – one for undergraduate studies and the other for postgraduate studies through the generous donations of alumni.

The scholarships were awarded by a committee consisting of UMCAS members and Faculty representatives, on the basis of various criteria including academic merit and engagement with the University and broader community. Congratulations are given to Sreedhar Valicherla (Undergraduate) and Dorris Phaik Suan Tam (Postgraduate), the 2006 winners. We also thank all donors who kindly contributed to these scholarships.

If you would like to make a donation for the scholarships, find out more about UMCAS, volunteer, contribute to or receive Alumni Matters, please contact: Ms Amanda Stanger Alumni Advancement Manager Faculty of Economics and Commerce 7th Floor, Alan Gilbert Building The University of Melbourne Victoria 3010 Phone: +61 3 8344 2128 E-mail: astanger@unimelb.edu.au UMCAS operates as a means for former Commerce students to keep in contact with each other, with the Faculty, and with the wider university community.

UMCAS committee members are elected to office

by Commerce alumni, and work closely with the Faculty to run events and also develop networks and connections. Various functions for alumni, friends and final year students are held throughout the year.

Details appear on the web site, http://www.ecom. unimelb.edu.au/alumni/ and in Alumni Matters. We hope to see you at one of our events in 2007.

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ADVANCEMENT UNIT After a year of planning, Economics and Commerce has shown leadership within the University by being one of the few Faculties to establish an Advancement Unit. This Unit comprises a Director, Suzanne Dixon, a Development Manager, Trish Khoury and an Alumni Advancement Officer, Amanda Stanger. The team will be complete once an Advancement Assistant is employed in early 2007.

The creation of the Advancement Unit is in response to a cultural shift amongst Australian Universities, recognising the importance of developing relationships with alumni and partnering with other important stakeholders to ensure future success.

The Faculty fully understands that it has to take responsibility for its own future and capitalise on its distinctiveness and reputation amongst the community through alumni relationships, corporate relationships and fundraising. This is a long term project requiring leadership, commitment and resources.

The Faculty has approximately 30,000 alumni and in 2006 great strides were made to improve communications through the Faculty’s alumni magazine Alumni Matters and a dedicated web site. We also developed a strategic plan to further improve alumni relations, which includes the implementation of a survey to alumni for distribution early 2007 and more effective communications with the University of Melbourne Commerce Alumni Society (UMCAS).

A primary aim of the Advancement Unit is to promote greater links with industry and community through teaching programs, research, volunteerism, student engagement, and networking. We are currently developing these links through mentoring, internships and scholarships and continually looking for other ways to increase industry and alumni relations.

In light of these aims over $23,000 was raised for the University Fund through the University’s annual appeal program. This money will be used for various scholarships, travel bursaries, travel allowances and visiting professorships.

In 2007 the Advancement Unit will consolidate on 2006 achievements and continue to work on building relationships with industry partners, alumni and community organisations to build a strong program for scholarships, research and endowed chairs.

Ms Suzanne Dixon (centre) with Amanda Stanger (left) and Trish Khoury (right) of the Advancement Office

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Professor Gregory Whitwell

PEOPLE IN THE FACULTY Dean and Associate Deans Dean Professor Margaret Abernethy Deputy Dean Professor Bruce Grundy Assistant Dean Associate Professor Carol Johnston from June 2006

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.

Associate Dean (Graduate Studies) Associate Professor Greg Whitwell Associate Dean (International) Associate Professor Bill Harley Associate Dean (Research) Professor Guay Lim to June 2006, Professor Colin Ferguson from July 2006 Associate Dean (Undergraduate Studies) Professor William Griffiths

Department of Accounting and Business Information Systems Head of Department Professor of Accounting and Business Information Systems LEECH, STEWART: BCom, MEc Tas, FCA, FCPA, MACS, FAICD Research Interests: Accounting information systems, decision making in corporate recovery, intelligent decision aids, enterprise resource planning systems.

G.L. Wood Professor of Accounting SPEAR, NASSER: BEc (Acct) Syria, MS (Acct), PhD N Texas, FCPA, CMA 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 Swin, DipEd SCV, MEc NE, GradDipComp, PhD Deakin, ACA, FCPA, AAIM, MACS Research Interests: Business information systems, business forensics, economics of auditing and auditor behaviour, fraud and corporate governance.

Fitzgerald Chair of Accounting LYON, JOHN: BCom (Hons) UQ, MFin Mgmt UQ, PhD Ohio SU Research Interests: Empirical methods in accounting and finance, earnings announcements and the pricing of audits.

Professor of Management Accounting LILLIS, ANNE: MCom, PhD Research Interests: Management control systems design, strategy and performance management, evaluating strategic capital expenditures, corporate downsizing, structural cost management.

Associate Professors DAVERN, MICHAEL: BCom (Hons) Tas, PhD Minn Research Interests: Information valuation and use, decision technologies, revenue yield management, behaviour in information environments.

PINNUCK, MATTHEW: BCom (Hons), PhD Research Interests: Financial accounting, behaviour of fund managers.

SCHULZ, AXEL: BCom (Hons), MCom, PhD UNSW Research Interests: Management accounting, behavioural accounting.

Senior Lecturers COBBIN, PHILLIP: BBus RMIT, MCom (Hons), BEd, MEd, DipEd SCV Research Interests: Market for audit services, history of accounting and audit, accounting education history.

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CORAM, PAUL: BEc (Acc) Flin, GradDipEd Adel, MAcc UWA, PhD ANU, CA Research Interests: Audit quality, behavioural research in assurance and financial accounting, accounting education.

DILNUTT, ROD: BA GradDipEd Latrobe, PGradDip (Comp Sci) Monash, MBA Deakin, DBA Southern Cross HO, SUSANNA: BEng, MPhil (CS) HKU, PhD (IS) HKUST Research Interests: Technology adoption, electronic commerce and personalization technology.

PAN, GARY: BBA Sing, MPhil (IS) Manc, PhD (IS) Manc Research Interests: Project management, escalation theory, dynamic capability development, enterprise systems and management information systems.

POTTER, BRAD: BCom (Hons), PhD Deakin, CPA Research Interests: Contracting research, accounting for public sector entities, international financial reporting, the development of financial reporting regulation.

WISE, TREVOR: MCom Auck, PhD, CPA ACA NZ, CMA NZ Research Interests: Accounting theory, financial accounting.

Lecturers DOWLING, CARLIN: BCom (Hons) Tas PhD Research Interests: Audit support systems, system restrictiveness, audit technology use, audit quality, audit firm control.

GRAFTON, JENNIFER: BCom (Hons), PhD Research Interests: Management control system design and use in the not-for- profit sector, the design and control of inter-organisational networks, performance management and research methods.

HRONSKY, JANE: BBus, PGradDipBus Curtin, MCom (Hons) Research Interests: Audit judgement, communication issues in financial and audit reporting.

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LEE, MICHAEL: BEc (Hons), MCom (Hons) Monash, GradDipAppFin& Invest FINSIA, SF Fin Research Interests: Enterprise resource planning systems, supply chain systems, performance management design, business case evaluations, project management implementation.

LEE, RICHARD: BEc Monash, DipEd SCV, CPA Research Interests: Financial reporting, accounting policy choice, executive compensation, accounting education.

LIM, NENA: MSci (CompInfoSys) Georg State, MArts (Acc and Fin), Lancaster PhD UQ, FCCA Research Interests: Innovation diffusion, internet security, digital piracy.

MEHTA, MANJARI: MScTech (IS) BITS, PhD Houston Research Interests: Mergers and acquisitions, systems integration, strategic alignment, knowledge management.

PARKES, ALISON: BCom W’gong, MBS (Hons) Massey Research Interests: workflow systems reliance, task complexity, decisional guidance, decision support systems.

SRIDHARAN, VG: BCom Bharathidasan PhD Auckland Research Interests: Economics of managerial accounting systems and firms internal governance structures.

VASSALLO, PETER: BAppSci, BArch Canberra, MCom Sydney, PhD UTS Research Interests: Corporate governance, real investments, financial statement analysis, financial choice.

Senior Tutor BOYS, NOEL: BBus RMIT, GradDipEd Hawthorn, GradDipEd CUSACK, GREG: BBus, DipTeaching RMIT, Assoc CPA GOSAIN, PRIYANKA: BCom LINGGO LIONG, JOANA: BCom

STAMATELATOS, ANNA: BSc, DipEd, BEc, BBusAcc (Hons) Monash, CMA, CPA Research Interests: Management accounting, financial accounting – capital markets, accounting education.

Professors Emeritus NICOL, ROBERT: BEc Syd, MBA, PhD California, FCPA WRIGHT, KENNETH: BMetE, DCom, FASA, FASSA, FAIM Professorial Fellows EASTON, PETER: BAgSc, BEc Adel, DTTech Torrens, DFinMgmt NE, PhD Berkley Research Interests: Financial statement analysis and equity security valuation and the estimation of the expected rate of return on equity investments.

FRANCIS, JERE: BSc Drake, MSc Minnesota, PhD, DEcon NE Research Interests: Economics of auditing, the effect of auditing on the quality of financial reporting, corporate governance, international accounting.

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

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

BURROWS, GEOFFREY: MCom, DipEd, FCPA COLLIER, PHILL: BSc Hull, MSc Essex

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Senior Fellows ALFREDSON, KEITH: BCom Qld BOUWENS, JAN: MFin, PhD Tilburg Research Interests: Performance measurement systems.

Fellows LESLIE, STEWART: BCom, FCA POUND, HAYDN: BBus MBA Melb/Chicago CPA Professional Staff ANDERSON, SHERRYL: MBA, MCom Law Deakin Position: Department Manager BARNES, SOPHIE: BA(Engl)(Media), GradDipBus (HR) Edith Cowan Position: Manager, Academic Services CROSER, REBECCA: BDes USthAust, GradDipArts Position: Student Administrator DECOLONGON, JENNIFER: DipDramArts VCA, BA (Hons) Position: Research Administrative Officer GIANNIOS, ANNA (May 2006 – present) Position: Front Office Administrator KING, CHRISTINE Position: Front Office Administrator KOVACEVIC, NATASHA: BBus RMIT (until November 2006) Position: Budget and Resources Officer MCNAMARA, KERRY Position: Front Office Administrator MITCHELL, STEVEN: BA( Hons) DipML (French) (September 2006 – present) Position: Administrative Assistant PEDLEY, SARAH: BA (Hons), DipItal (Teaching) Perugia Position: Student Administrator RAJENDREN, SANJEV: BEng (Softw) / BA (Psych) Position: Applications Developer ROBINSON, LOREL: Cert III BusAdmin Batman Kangan TAFE Position: Personal Assistant to Head of Department

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Department of Economics Head of Department and Professor of Economics OLEKALNS, NILSS: BEc (Hons) Adel, MEc ANU, MA WOnt, PhD LaTrobe Research Interests: Macroeconomics, applied econometrics.

MARTIN, VANCE: BEc (Hons), MEc, PhD Monash Research Interests: Econometrics, time series analysis, monetary economics, macroeconomics.

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, PhD Yale, FASSA Research interest: Operation of labour markets in Australia, theories of labour markets activity, economics of sport, program and policy evaluation and design, Australian economic history.

FREEBAIRN, JOHN: MAgrEcon NE, PhD Davis, FASSA Research Interests: Taxation reform, labour economics, especially employment, infrastructure pricing and investment.

KING, IAN: BA, Concordia, PhD Queen’s, Ont Research Interests: Macroeconomics, search, income inequality, growth, unemployment, monetary theory, networks and technological change McDONALD, IAN: BA (Hons) Leic, MA Warw, PhD SFraser, FASSA Research Interests: Macroeconomics, labour economics.

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: Markov chain monte carlo techniques, imposing inequality constraints in systems of equations, finite sample inference for nonlinear functions of parameters, and model selection.

Professorial Fellow

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

VAN DEN NOUWELAND, ANNE: BA (Maths), MA (Maths) Nijmegen, PhD Tilburg University Research Interests: (Applied) game theory, Mathematical economics, Microeconomics.

Readers/Associate Professors CAMERON, LISA: BCom (Hons), MCom (Hons), PhD Prin Research Interests: Development economics, Asian economics, applied econometrics, experimental economics.

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

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

HARRIS, DAVID: MEc James Cook, PhD Monash Research Interests: Time series analysis.

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HENRY, OLAN: BA (Hons) Dub, MA, PhD Reading Research Interests: Econometric modelling and forecasting of asset market volatility, term structure modelling, the inflation hedging characteristics of property and property serviced in the U.K. HIRSCHBERG, JOSEPH: MA Calif, PhD, SCalif Research Interests: Electricity demand/rates, labour discrimination, demand analysis, cluster analysis.

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

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, agriculture and the World Trade Organisation, the I-O structure of international commodity markets.

NORMAN, NEVILLE: BCom (Hons) MA, Melb, PhD Camb Research Interests: Industrial pricing as influenced by tariffs, exchange rates and world price movements; health economics; trade practices economic issues and the economics of e-commerce.

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

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

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Senior Lecturers DE FONTENAY, CATHERINE: BA (Hons) McGill, PhD Stanford Research Interests: Development economics, industrial organisation, theoretical and empirical bargaining 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) State University of New York, 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 BASOV, SUREN: MA New Economic School (Moscow), DipEng (Physics), PhD Boston Research Interests: Economic theory, mathematical economics, contract theory, industrial organization, labor economics.

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, education economics.

ERKAL, NISVAN: MA Macalester College, MA, PhD Maryland Research Interests: Industrial organisation, microeconomic theory.

HODLER, ROLAND: MA, PhD Bern Research Interests: Economic development, political economy, international economics.

JACOBI, LIANA: DipEco Otto-Friedrich, MA St Louis Research Interests: Econometrics, applied econometrics, labour economics, macro and monetry economics.

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.

LOERTSCHER, SIMON: MA, PhD Bern Research Interests: Industrial organisation, mechanism design, political economy.

NIKIFORAKIS, NIKOS: BA (Bus) Athens, MA, PhD London Research Interests: Experimental economics, behavioural economics, industrial organization, public economics, game theory.

SHAH, MANISHA: BA Berkeley, MSc LSE, MS, PhD Berkeley Research Interests: Microeconomics, development economics, health economics, policy analysis UREN, LAWRENCE: BEc (Hons) ANU Research Interests: Macroeconomics, labour economics.

Professorial Fellows CORDEN, WARNER MAX: BEc, PhD LSE FASSA GANS, JOSHUA: BEc Qld, PhD Stanford TAYLOR, GREGORY: BA, PhD, FIA, FIAA, FIMA 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

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WHEATLEY PRICE, STEPHEN: BA, MA, PhD Leicester

LOMBARDO, ROSEMARY Position: Front Office Supervisor

Senior Fellows WILLIAMS, LYNNE: BA, MA,

PHILIP, PREETA: MBA Spicer Position: Departmental Financial Manager

MSc LSE, PhD Monash Fellows HARPER, MARGORIE: MA JAFFER, SUE: BSc, MA MORRIS, NICK: MA (Hons), MPhil Oxford PORTER, MICHAEL: BEc (Hons) Adel, PhD Stanford STONEHAM, GARY: BCom, MA Qld TERRILL, DANIEL: BA, PhD Professors Emeritus LLOYD, PETER: MA Vic NZ, PhD Duke, FASSA PERKINS, JAMES: MA, PhD Camb, MCom FASSA Professional Staff MILLERICK, CHERIE: BA Syd Position: Department Manager BANFORD, ALISON Position: Manager, Academic Support Services DEGENHARDT, SUZANNE: BEd Position: General Front Office Support and Actuarial Studies Distance Education Administrator GOULETSAS, PERSEFONI Position: Coordinator Administrative Support Services HADDAD, LEONIE: AdvDipBus Position: Financial and HR Operational Support KHAN, NAHID: MCom, MSocSci (Econ) University of Dhaka, BSocSci (Hon Ec) University of Dhaka Position: Tutor Coordinator and Undergraduate Support Officer LEONG, COLEMANN: CBE&ACE RMIT, PGradDipCompSci Swin Position: Web and System Support Officer LO, VICTOR: BEng (Geomatics) UNSW, GradDip (IT) Swin Position: Web Development Officer LOCHRAN, MARGARET Position: Department Web Page Administrative Support

SCHERER, HEIDI: AssDipBus Homesglen Position: Academic Support Services Officer VANCUYLENBURG, SANJEEVA: DipTech (Computing) Homesglen Position: Web and Systems Support Officer MACKINNON, LESLEY: RN, RM NNPC, DipSocSci (Welfare), BHealthSci (Nursing Post Registration) Position: Administrative Support Officer, Distance Education

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, FSA Research Interests: Financial mathematics, actuarial science and probability.

Associate Professor JOSHI, MARK: BA (Hons) Oxford, PhD MIT Research Interests: Financial mathematics.

Senior Lecturers FITZHERBERT, RICHARD: BSc (Hons) Syd, FIA, FIAA, FFin Research Interests: Stochastic investment models, investments.

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.

Lecturer WU, XUEYUAN: BSc, MSc Nankai, PhD HKU Research Interests: Correlated risk models, ruin theory, recursive calculations for ruin probabilities.

Professorial Associate TAYLOR, GREG: BA, PhD, PhD, FIA, FIAA, FIMA, CMath, AO Research Interests: Modelling in general insurance.

Honorary 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.

Deputy Head of Department and Associate Professor BROWN, CHRISTINE: MSc, DipEd, PhD, SF Fin Research Interests: Pricing derivative securities and innovations in financial markets, derivative markets, valuation of real options, modelling credit risk, financial institutions management, capital budgeting, share buybacks, bank regulation and implementation of Basel 2, infrastructure financing.

Commonwealth Bank Group Professor of Finance DAVIS, KEVIN: BEc (Hons) Flin, MEc ANU, F Fin, FFTP Research Interests: Financial institutions management, treasury management, financial engineering, corporate financial policy, financial markets.

Professors of Finance BROWN, ROB: MEc Syd, FCPA, F Fin Research Interests: Interest rate swaps, management and regulation of financial intermediaries.

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GRUNDY, BRUCE: BCom (Hons) Qld, PhD Chic 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.

WHEATLEY, SIMON: MA (Hons) Aberdeen, MA S Fraser, PhD Rochester Research Interests: Investments, international finance.

Associate Professors CHAN, HOWARD: BCom (Hons) Melb, MEc, 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.

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SCHWANN, GREG: BA (Hons) Queens, MA (Ec), PhD British Columbia Research Interests: Real estate finance, real estate economics, real estate backed derivatives.

Senior Lecturers CHANG, XIN: BA Tsinghua, MPhil PBOC, PhD HKUST Research Interests: Corporate finance.

CHNG, MICHAEL: BCom (Hons), M.Com (Hons), PhD Research Interests: Price discovery, cross-market trading dynamics, trading strategies.

PINDER, SEAN: BCom (Hons) Monash, PhD Newc, SA Fin 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: Financial risk measurement and management.

SHEKHAR, CHANDER: BS Pujab, MS Virginia, PhD Penn State Research Interest: Economic models of financial markets, market for corporate control, initial public offerings, corporate restructuring.

HANDLEY, JOHN: BCom, BMath Newc, MCom (Hons), PhD, 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: BA (Hons) Delhi, MBA Mich, PhD Wash, CFA Research Interests: Liquidity and efficiency of equity markets; Information transmission across equity markets; valuation implications of corporate events.

SAWYER, KIM: BSc UWA, MEc, PhD ANU Research Interests: Finance theory, quantitative finance, behavioral finance, corporate governance.

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Lecturers AHARONI, GIL: BA, MBA, PhD Tel Aviv Research Interests: Asset pricing BROWN, RAYNA: BA Macq, MCom (Hons), PhD Melb, SA Fin Research Interests: Regulation of financial institutions, real estate finance.

BUCHANAN, BONNIE: BSc (Hons) NSW, MAppSc RMIT, PhD Georgia Research Interests: Corporate governance, financial fraud, law and economics.

COLEMAN, LES: BEng (Hons) Melb, BSc (Econ) (Hons) London, MEc Syd, PhD, CFTP (Snr) Research Interests: Risk strategy, behavioural finance, wagering markets, applied corporate finance, agricultural and resources finance, corporate crises, practical applications of academic research.

GYGAX, ANDRE: lic oec HSG St. Gallen, MSc, MBA Colorado, PhD Research Interests: Entrepreneurial finance, industrial organisation, dynamic social networks.

HUI, SANDRA: BCom ANU, MFin RMIT, PhD Monash Research Interests: Credit risk modelling and valuation, interest rate modelling and financial mathematics.

MAHESWARAN, KRISHNAN: BEc (Hons) LaTrobe, MCom (Hons), PhD Research Interests: Asset pricing and consumption, term structure of interest rates.

O’CONNOR, IAN: BBus Chisholm, MBus RMIT, PhD, CPA, SA Fin Research lnterests: Bank efficiency, derivative securities, volatility forecasting.

SCOTT, CALLUM: BSc (Hons) Edin, BA Open UK, GradDipEd Dundee, GradDipCInfSc, MSc VUT, PhD, AFPA (Academic) Research Interests: The application of artificial neural networks in finance, real estate finance and analysis.

ZENG, QI: BS SJTU, MS Academia Sinica, MS UIC, PhD Penn Research Interests: Asset pricing, Chinese Stock Market.

Tutors HAQUE, TARIQ: BSc, BCom (Hons) Research Interests: Asset pricing, behavioural finance, funds management, financial econometrics.

Research Assistant TANG, WILLIAM: BCom, GradDip (Data Processing) Monash Research Interests: e-Solutions to business enterprise and academic research.

Professorial Fellows STAPLETON, RICHARD: BA (Hons) Sheffield, BA (Mathematics) Open UK, PhD Sheffield Professor of Finance, University of Manchester, UK SUBRAHMANYAM, MARTI: BoT IIT, PGDBA IIM, PhD MIT Charles E. Merrill Professor of Finance and Economics, New York University, USA Senior Fellows COCKS, GRAHAM: MEc Syd, MStat Flor, MSc Brad

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INGWERSEN, MICHAEL: BEc Monash, MBA

BARBEROGLOU, SILVIA Position: Academic Services Officer

Fellows ERREY, ROBERT: BBus SAIT,

CAREY, ROBIN: BSc (Econ), MA (Econ) UC – Riverside Position: Executive Assistant

GradDipStats Canberra CAE, MBA UWA, MCom Research Interests: Financial aspects of marketing management.

HART, KEITH: BSc (Hons) Sussex, MSc PhD Vic ROBERTSON, DAVID: BA (Eco), LLM ROBINSON, DAVID: BAdmin(Ec) (Hons) (Griffith) Visiting Academics CLEARY, SEAN: MBA St Mary’s, PhD Toronto, CFA Associate Professor of Finance, Department of Finance, Information Systems, and Management Science, Saint Mary’s University HANLY, JAMES: BBS, MBS Dublin Assistant Lecturer, Department of Accounting and Finance, Dublin Institute of Technology HO, YEW KEE: BEcon (Hons), MEc, Monash, MSc (IndAdAcc), PhD (Accounting) Carnegie Mellon Associate Professor, NUS Business School, National University of Singapore KESTER, GEORGE: BBA Wake Forest, MBA (Fin) UNC Charlotte, PhD (BusAdm) Darden Mamie Fox Tyman Martel Professor and Head of Department of Management, Williams School of Commerce, Economics and Politics, Washington and Lee University, Lexington, Virginia, USA PALMER, KEN: BSc (Hons), MCom (Hons) Melb, PhD ANU Professor of Mathematics, National Taiwan University ROESCH, DANIEL: MSc (BusAdmin), PhD (BusAdmin) Regensburg Assistant Professor, Department of Statistics, University of Regensburg, Germany Professional Staff KREITNER, JASON: BA NM State, MPA, JD South Dakota Position: Department Manager DOYLE, JOANNE Position: Finance and Resources Manager, Deputy Department Manager

DALVEAN, JO: BAppSc Monash Position: IT Manager DIXON, HELEN Position: Student Services Officer MOIR, WENDY: BAppSc (InfoTech) (Hons) CSturt Position: IT Support and Web Developer MURRAY, ANNMAREE: BAppSci (PhysEd) VUT Position: Academic Services Officer VELLA, JULIEANNE Position: Academic Services Officer

Department of Management and Marketing Associate Professor and Head of Department (from June 2006) LUKAS, BRYAN: MBA Nebraska, PhD Memphis Research Interests: Strategic marketing (brand strategy and product innovation strategy), brand valuation, marketing-finance interface, international marketing.

Professor and Head of Department (from January 2006) ZAMMUTO, RAYMOND: PhD Illinois Research Interests: Organisational adaptability to changing industry conditions.

Professors DICK, HOWARD: BEc (Hons) Monash, MEc, PhD ANU Research Interests: Asian business, corruption and governance, institutional development, global logistics, urbanisation in the Asiapacific, 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.

KULIK, CAROL: PhD Illinois Research Interests: HR management, workforce diversity, fairness in organisations.

MERRETT, DAVID: BEc (Hons), MEc Monash Research Interests: Internationalisation of Australian firms, evolution of big business‚ in Australia, headquarter-subsidiary relations in multinationals, principal-agent issues within firms.

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.

Associate Professor and Reader BENSON, JOHN: BEc, MEd Monash, MA, PhD Research Interests: HRM HRM/ employment relations in Japan and China, Japanese manage-ment, trade unions, enterprise restructuring and outsourcing, employee commitment, knowledge workers.

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.

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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.

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.

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, MILE: BE (Hons), ME (Hons) W’gong, MBA RMIT, PhD Research Interests: Operation management, quality management, value of ISO 9000 and ISO 14000 certification, continuous improvement and innovation management, e-commerce – Euro-Australian collaboration in SMEs, organisational performance, international best practice, reengineering.

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BOVE, LILIANA: BAgSci (Hons) LaTrobe, BBus (Marketing) RMIT, PhD Monash Research Interests: Services marketing, relationship marketing, customer loyalty, customer citizenship behaviour.

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.

WHITWELL, GREGORY: BEc Monash, PhD Research Interests: Environmental uncertainty, the marketing/finance interface, the role of real options thinking in marketing strategy, marketing’s contribution to business strategy and the role of intangible marketing assets, international marketing, especially exporting, understanding customer needs through techniques such as ZMET, social capital and its relevance to marketing activities, electronic marketing.

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

Senior Lecturers BEVERLAND, MICHAEL: BCom, DipCom, MCom (Hons) Auckland, PhD (Bus and Man) Univ SA Research Interests: Values-based branding, brand management over the long run, luxury branding, the marketing of authenticity, relationship transformation and trajectories over time (both business-to-business and business-to-consumer), implementing marketing programs, how consumers respond to design aesthetics, value creating processes in industrial firms.

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

MOOSA, SHARAFALI: BSc, MSc Madras, PhD NUS and Madras Research Interests: Supply chain management, reverse logistics, warehousing queues, inventory and reliability.

MORGAN, STEPHEN: BA Monash, MA HK, PhD ANU Research Interests: Foreign direct investment and international business, business economic and social history of China, 19th and 20th centuries, the history of management and organisation in China in the 20th century, anthropometric history of China and Taiwan (stature, health and nutrition).

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.

POWER, DAMIEN: BBus, MBus, PhD Monash, CFPIM Research Interests: Business to business e-commerce, supply chain systems/virtual integration, business process redesign, operations strategy.

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.

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SINGH, PRAKASH: BE (Hons) BBus QUT, PhD Research interests: Operations management, supply chain management, quality management, innovation management.

Lecturers 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.

BRATTON, VIRGINIA: BA Moorhead, MA Florida, PhD Florida Research Interests: Impression management, business ethics, organisational identity and politics.

CHMIELEWSKI, DANIELLE: BA/BCom (Hons), PhD Research Interests: Strategic marketing, strategic management, timing of entry, brand introduction strategy, resource-based view and capabilities, strategic orientation.

DAVIES, JENNIFER: BBusMgt (Hons), PhD Candidate Qld Research Interests: Inter-organisational relationship, strategic networks, rivalry, strategic groups, knowledge and innovation.

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 LIM, ELISON: BBA (Hons), PhD, NUS BusSchool Singapore Research Interests: Information processing, language effects in advertising, cross-cultural consumer differences, behavioural decision theory.

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MAGUIRE, CATHERINE: BCom (Hons), PhD candidate Research interests: Effects of union membership status and unionmanagement climate, relationship between job and life satisfaction, reshaping organisations based on e-commerce.

METZ, ISABEL: BSci (CompSci) UWit SAfrica, MBA MBS, PhD Monash Research Interests: gender and careers, organisational culture and leadership, work related stress and toxin handling, and psychological contracts.

MOL, JOERI: MSc Erasmus, PhD (Mgmt Sci) Groningen Research Interests: Selection mechanisms in markets, power and appropriation in organizations, 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 behavior, information processing, decision frames and choice, decision conflict.

NEVILLE, BEN: BCom, PGradDip, 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, crosscultural issues in marketing and management.

OSEGOWITSCH, TOM: BA (Hons) Wirtschafts Wien, MCom (by Research), PhD UWA Research Interest: Strategies of multinational companies, international business, strategy, HQ-subsidiary relationship.

PALADINO, ANGELA: BCom (Hons), PhD Research Interests: Consumer behaviour, environmental marketing, innovation and corporate performance, resource-based view and capabilities strategies, market orientation, strategic management and marketing.

SAMMARTINO, ANDRE: BCom (Hons), PhD 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.

ZALAN, TATIANA: BEd (Hons) Moscow, MBA Adel, PhD, Sth Aust Research Interests: Failure of firms in international markets, International diversification and firm performance, international competitiveness of firms from smaller economies, knowledge management in multinational firms.

Professor Emeritus ISAAC, JOSEPH AO: BCom BA(Hons) Melb, PhD Lond, Hon DEcon Monash, Hon DCom Melb, Hon LLD Macquarie, FASSA Research Interests: Labour market institutions, industrial relations, wages policy, small business.

Professional Staff SHORT, WENDY: AssDipApSci (Sci Lab) Swin, GradDipEdAdmin HIE, MEdAdmin UNE Position: Department Manager BERGMAN, KRISTEL: BA/BSc Position: Front Office Administrator BISHOP, LIZA: BBus Mgt Pending RMIT Position: Executive Assistant / Undergraduate Coordinator BROWN, OLGA Position: Front Office Administrator COX, MARY: ALAA Position: Administrative Services Manager GILBERT, KERRIE Position: Executive Assistant HALL, BRADLEY Position: Budgets and Resources Officer HEDDLE, NICOLE: AdvDip (Photography) Chch Position: Undergraduate Coordinator JENKINS, RACHEL: GradCertBus Swin Position: Undergraduate Coordinator KENTON, SUSAN: BA, DipEd, BEd LaTrobe Position: Research Coordinator

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McCORMICK, CHRISSY Position: Front Office Administrator SIMON, DENISE Position: Executive Assistant WILSON, REBECCA: BA(Hons) Position: Student Administration and Events coordinator

Melbourne Institute of Applied Economic and Social Research Director FREEBAIRN, JOHN: MAgEc, NE, PhD Davis, FASSA Research interests: Taxation reform, labour economics, especially employment, infrastructure pricing and investment, and microeconomic reform.

Deputy Director and Professorial Fellow WOODEN, MARK: BEc (Hons) Flin, MSc Lond Research interests: Labour economics, industrial relations and survey methodology.

Director, Applied Macroeconomics Research Program and Professorial Research Fellow LIM, GUAY: BEc, MEc, PhD ANU Research interests: Modelling the Australian economy, macroeconometrics, exchange rates.

Director, Labour Economics and Social Policy Research Program and Professorial Research Fellow MAVROMARAS, KOSTAS: BSc (Hons), DPhil York Research interests: Labour markets, econometrics, social policy and health economics.

Professorial Fellow 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 GUYONNE, KALB: MEc Erasmus, PhD Monash Research interests: Applied microeconom(etr)ics in particular, labour and household econometrics, social policy issues, microsimulation modelling.

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HEADEY, BRUCE: BA Oxf, MA Wisc, PhD Strath Research interests: Welfare and distributional issues and social welfare policies in Western Europe and North America.

WEBSTER, ELIZABETH: BEc (Hons), MEc Monash, PhD Camb Research interests: Industrial economics, innovation and intellectual property, labour markets.

Senior Research Fellows JENSEN, PAUL: BEc Syd, PhD UNSW Research interests: Microeconomic reform, industrial organisation, intellectual property.

WILKINS, ROGER: BCom (Hons), MCom, MSc Wisc, PhD Research interests: Labour Economics, income inequality and poverty, microeconomics, applied microeconometrics.

YONG, JONGSAY: BA, BSocSc (Hons), MSocSc, NUS, MA, PhD Brit Col Research interests: Health economics, industrial organisation, competition policy and regulatory economics, transport economics, applied game theory.

Research Fellows BUDDELMEYER, HIELKE: MSc Vrije/Am, MA, PhD NYU Research interests: Applied microeconomics, labour supply, applied econometrics.

CAI, LIXIN: BEd Henan, MA Renmin, MEc, PhD ANU Research interests: Labour economics, social policy, social security reforms in transitional economies.

CHUA, MICHAEL: BEc (Hons), PhD UNE Research interests: Bayesian inference, forecasting, applied macroeconomics.

FREIDIN, SIMON: BBSc (Hons), GradDipCompSc LaTrobe Position: Survey Research Database Manager and Analyst HILDA GOODE, ALISON: BA (Hons) Newcastle Upon Tyne, MSc Aberdeen Position: HILDA Survey Analyst

HARDING, GLENYS: BEc ANU, GradDipEc Position: Database Manager and Analyst LEAHY, ANNE: BCom GradCertClassics Position: Survey Data Analyst SHENG LEE, WANG: BA (Eco) Colby, MA Michigan Research interests: Low-pay dynamics, welfare transitions, child care benefits and microsimulation of labour supply.

LOW, CHIN NAM: BSc (Hons), MSc London, PhD Monash Research interests: Forecasting of macroeconomic and financial time series using various non-linear models JEON, SUNG-HEE: BA Ewha Women’s, MA, PhD York (Toronto) Research interests: Labour economics, health economics and the labour supply of women MCGUINNESS, SEAMUS: BSc (Econ), MSc Queen’s, PhD Belfast Research interests: Economic returns to schooling, firm-level impacts of skill shortages, low pay, job insecurity OGUZOGLU, UMUT: MA, PhD Guelph Research Interests: Dynamic panel data models, spatial panels, empirical likelihood.

PALANGKARAYA, ALFONS: BSc UMo, MA Penn St, PhD Ore St Research interests: Industrial organisation, health economics, econometrics.

SCUTELLA, ROSANNA: BCom (Hons), PhD Research interests: Poverty, inequality and social welfare SMITH, PENELOPE: BEc (Hons) UWA, MCom PhD Research interests: Business cycles, open economy macroeconomics, applied econometrics.

SONG, LEI LEI: BA EChina, MSc Wuhan, MEc W’gong PhD Research interests: Applied macroeconomics, exchange rate economics, the Chinese economy.

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TSENG, YI-PING: BEc Taiwan, PhD ANU Research interests: Labour economics, applied microeconometrics, economic and social policy.

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A’BELL, LAURA Position: Communications and Publicity Manager BEST, MICHELLE: BEnvSc LaTrobe Position: Administrative Assistant

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

BOWDEN, CHRIS: BA/BSc Monash, MCom Deakin Position: Finance Officer

WATSON, NICOLE: BSc UWA, GradDipMgtSc Canb, MMedStat Newcastle Position: Survey Manager HILDA

LENTINI, NELLIE: BA Monash Position: Publications Manager

WITT, JULIA: BA (Hons) Toronto, MA, PhD Guelph Research Interests: Health economics, microeconomics.

Research Officers AGIUS, PAUL: BA GradDipSoc LaTrobe, MSc (Applied Stats) Swin Position: HILDA Database Support Officer BLACK, DAVID: BCom (Hons) Research interests: Labour economics, government policy, applied econometrics.

GHANTOUS, SUZAN: BCom, BEc (Hons) Monash, MCom Research interests: Labour economics VAN ZIJLL DE JONG, MARK: BCom (Hons) Lincoln Research interests: Labour markets and social economics VU, THI HONG HA: BEc Newcastle (Hons), ANU Research interests: Macroeconomics, applied econometrics, social policies and welfare economics.

WARREN, DIANA: BCom, MCom (Hons) W’gong Research interests: Labour economics, mature age labour force and the transition to retirement.

Research Assistant WARE, KERRY Professional Staff DERHAM, RACHEL: BSc Position: Business Manager

HOPE, PENELOPE: BA LaTrobe Position: Functions Manager

LIEW, WOEI TIAN: BSc, MSc LaTrobe GradDipEc Position: Computing Systems Officer MOORE, PHILIPPA: BA (Hons) UTas Position: Administrative Assistant – HILDA Survey WILSON, MICHELLE: BA (Hons) Position: Administrative Assistant Adjunct Professors BORLAND, JEFF: MA, PhD Yale FASSA Head, Department of Economics, The University of Melbourne Research interests: Operation of labour markets in Australia, theories of labour markets activity, economics of sport.

CREEDY, JOHN: BSc (Eco with Stats) Brist, BPhil (Eco) Oxf, FASSA Truby Williams Chair of Economics, Department of Economics, The University of Melbourne Research interests: Income distribution, public economics, labour economics, history of economic analysis.

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

SAMSON, DANNY: BEc, PhD UNSW Department of Management, The University of Melbourne Research interests: Operations management, business competitiveness, strategy and e-commerce.

Professorial Fellows CHAPMAN, BRUCE: BEc (Hons) ANU, PhD Yale Professor of Economics and Director of the Centre for Economic Policy Research, RSSS, The Australian National University Research interests: Labour economics, the economics of education, applied econometrics, industrial relations and economic policy issues.

DRAGO, ROBERT: BS Tulsa, MA, PhD Mass/Am Professor of Labour Studies and Women’s Studies, Pennsylvania State University Research interests: Economics of work and family.

DUNCAN, ALAN: BA (Hons) Manc, DPhil York Professor of Microeconomics, School of Economics, University of Nottingham Research interests: Welfare program evaluation, analysis of work incentives, static and behavioural tax microsimulation, econometric models of labour supply, and labour market and welfare program participation.

KELLEY, JONATHAN: BA Camb, PhD Berkeley Director, International Survey Project, The Australian National University Research interests: Quantitative sociology and social economics.

SCHEDVIN, BORIS: BEc, PhD Syd, FASSA Research interests: Economic history with particular interests in the transformation of the Australian economy and of Australian economic and scientific institutions during the course of the twentieth century.

WILLIAMS, ROSS: BCom, MScEc, PhD Lond, FASSA Research interests: Economics of education, household consumption and saving, federal state finance, and the allocation of time by households.

Principal Fellows BOEHM, ERNST: AUA BEc (Hons), MEc Adel, MCom, DPhil Oxf Research interests: The measurement and dating of the business cycle, and the economic history of Australia.

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MARKS, GARY: BSc (Hons), MSc, PhD Qld Research interests: The youth labour market; unemployment, earnings, pathways to full-time work; and education/early school leaving, achievement in literacy and numeracy, and educational participation.

Professional Staff AIR, ALISTER: BAppSc UTS Position: Faculty IT Manager

COX, CHANTELLE: BA RMIT, MT (Web and Internet Computing) RMIT Position: Web Developer

AYRES, ANDREW: BEng (Software Eng) Position: Desktop Support Officer

DO, NGHIA: BElectEng RMIT Position: Computer Systems Officer

SHIELDS, MICHAEL: BA (Hons), Stafford, MSc Health UNY, PhD Leic Associate Professor and Reader, Department of Economics, The University of Melbourne Research Interests: Economics of immigration, economics of labour market discrimination, labour market for medical professions.

BANKI, JACQUELINE: DipAdvMgmt (Prof Writing), BA Monash Position: Executive Officer (Marketing)

Senior Fellows DOIRON, DENISE: BA Monc, MA, PhD UBC Senior Lecturer, University of New South Wales Research interests: Industrial relations and bargaining theory, labour economics and labour and social policy.

BELFORD, DOUG: BAppSc Swin Position: IT Security and Compliance Manager

EVANS, MARIAH: BA Reed MA, PhD Chicago Research interests: Poverty, inequality, attitudes to welfare, family issues, ageing and retirement, social capital, labour market and work issues.

AVRAMOPOULOS, KRIS Position: Desktop Support Officer

BANYASZ, AGNES: MA, DipEd ELTE Budapest, GradDip (Careers) Deakin Position: Manager, Graduate Careers Centre

BENJAMIN, GLYN: BDigSys (CompSci), MIT, Monash Position: Desktop Support Officer

General Manager DIXON, SUZANNE: BCom, DipEd Hawthorn Institute, MBA VUT (till Sept 2006) LOI, AILEEN: BCom, MIB NZ, Chartered Accountant (ICANZ) (from Oct 2006) Director, Graduate School YOUNG, BROOKE: BA LaTrobe, PGradDip (Art Cur St) (from Nov 2006)

ELLIS, TRACY: BA (Lit&Soc) SUT Position: Academic Programs Manager (MBIT) FARRELL, CHRISTOPHER: BA LaTrobe Position: Student Adviser FITZGERALD, GERALDINE: BA (Hum&SocSci) LaTrobe Position: Student Liaison Officer (Undergraduate) FOX, GENEVIEVE Position: Service Desk Manager GEORGESZ, MARK: BEc LaTrobe, MAppCom (Marketing) Position: Executive Officer (Resources)

BIRD, VENETIA Position: Applications Developer

GILLEARD, RACHEL: BA Position: Executive Officer (Undergraduate) HAMILTON, AMANDA: BA Deakin Position: Academic Programs Officer (Economics, Finance and Management Programs) HANSON, BRAD: BA Monash, GradDipMktg, MBus (Mktg) RMIT, CPM Position: Manager, Marketing and Communications

CHANG, NOOI: BA (Hons) Malaya, MEPA Monash Position: Manager (International) CHOONG, EDDIE: BBusStud VU CPA Position: Manager (Taiwan, The Gulf States, Vietnam, The Philippines, Mauritius, China) COLLIS, STEPHEN Position: Manager, Graduate School CORNISH, SARAH: BAppSc (Disability Studies) Deakin Position: Team Leader, Undergraduate CLARENCE, WAYNE Position: Desktop Support Officer

50 Faculty of Economics and Commerce

ELLIOTT, EUFEMIA: BA/BCom Position: Internship Coordinator

BENETTI-HILLE, MARIKA: BA BLaws Monash, BSocialWork Melb Position: Student Experience Officer, Undergraduate

ROGERS, MARK: BSc Lond, MSc Warw, PhD ANU Tutor in Economics and Management, Harris Manchester College, Oxford University Research interests: Economic growth and industrial organisation with a particular focus being on firm-level performance using Australian data.

Faculty Secretariat

EDWARDS, LARISA: BBus Swin Position: Study Abroad and Exchange Coordinator (incoming)

HARPER, CLARE: MA Nottingham, BA (Hons) Hull Position: Manager, Marketing Onshore HASHINAKA, MAYSAYOSHI: BA Sophia, MA (Japanese Interpreting and Translation) Monash, PGradDipEd Position: Admissions Assistant (Graduate School) HERCZEG, MARGARET: BCom (Writing and Contemp Cultures), US Position: Admissions Officer (Graduate School) HILL, ADRIAN: CertBasicElect, CertIVCompSys, DipCompSys, MCSE Position: Core Services Specialist

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LOWE, MELISSA: DipSocSci (Community/Development) Kangan Batman TAFE, Certificate in Workplace Training and Assessment ACTU, Dip Business (Frontline Management) RMIT Position: Transition Coordinator MAJCZAK, DANIEL: DipHospMgmt, William Angliss Position: Computer Laboratory Manager HOARE, JACQUELINE MICHELLE BCom (Management) Position: Marketing and Communications Officer JENKINS, ALISON: BA, BEd Deakin, BA (Hons) Position: Academic Programs Manager (MBIT) JENZEN, RACHEL: BA (Hons), MA Position: Academic Programs Manager

KWOK, TRACY: BBus Swin, CPA Position: Executive Officer (Finance) LASCELLES, SCOTT ANDREW: BBus (Hospitality Management), LaTrobe Position: Academic Programs Officer (Master of Applied Commerce Programs) LAUGHLIN, KYLIE: BA (Criminology) PGradDip in Arts (Criminology) Position: Student Liaison Officer (Undergraduate) LLOYD, AMANDA: BBus (Information Systems) VUT Position: Client Services Manager

PELUSO, DANIEL: BBus (Info Systems) VUT Position: Core Services Specialist PHAM, MAGGIE: BBus VUT Position: Service Desk Manager PHAM, QUYNH BSc, GradDipEcSt Monash Position: Systems Support Officer

MCPHARLIN, SUSAN: BA, BCom Adel Position: Manager, Marketing Onshore

PHAN, VAN: BCompSci VU Position: Applications Developer

MONG, CATHERINE: BBusAdmin Singapore, GradDipSoftwDev RMIT Position: Academic Programs Officer (Undergraduate)

PRIESTLEY, CHRISTINE: BA Position: Course Adviser, Undergraduate QIN, ROSY: BCom (Accounting and Finance), DipEd Position: Finance and Resources Officer RANDALL, JACQUELINE: BA, GradDipMedStud Deakin Position: Manager (Research)

JOVANOVSKI, SOKOLA Position: Administrative Officer (International)

KARTALIS, BILL: BBus, VUT Position: Core Services Manager

PECORARO, FRANCESCA: BA (Media Studies) RMIT Position: Manager (Undergraduate)

McCORMICK, CHRISSY Position: Administrative Assistant (Marketing and Communications)

JOSE, SABINA Position: Academic Programs Manager, Master of Applied Commerce Programs

KARIBIAN, ROCIO: BBusAdmin Universidad San Antonio Abad, Cusco-Peru, Translating and Interpreting Certificate Spanish/English, RMIT Position: Manager (Europe, Latin America, Thailand)

ORTEGA, FRANK Position: Core Services Specialist

REIGER, MAXINE: Position: Core Services Officer RITTER, ANNE: BSc, GradDipCompSci La Trobe Position: Research Database Administrator MORTON, HEIDI: BA (Hons) Tas, MCom Position: Academic Programs Officer, MBIT MUIR, SUE: BEd, Southern Queensland, GradCert TESOL, New England, NSW Position: Student Adviser, Undergraduate NACLI, ROSA: BSc (Sociology) LaTrobe Position: Student Adviser, Undergraduate NGUYEN, THU Position: Desktop Support Officer NGUYEN, TRUMAN: BComSc, MCSE, CCNA Position: Systems Administrator NGUYEN, TRUNG: BAppSc FIT, MSc VUT Position: Systems Support Officer

ROBERTSON, KATIE: DipSocSci (Justice), DipAppSc Box Hill Inst Position: Course Adviser (Undergraduate) RODRIGUEZ, FERNANDO: DipIT, Box Hill TAFE, MCP Position: Desktop Support Officer RYCROFT, ANNA: BA VU Position: Finance and Resources Officer SERPELL, ELIZABETH Position: Executive Assistant to the General Manager and Director (Graduate School) SHARMA, SANJAY: MSc India, PGradDipCompSysEng RMIT Position: Application Services Manager SHEARS, MONIQUE Position: Student Support Officer, Undergraduate

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Teaching and Learning Unit DEVLIN, MARCIA: BA ANU, DipEd La Trobe, GradDipAppPsych SUT, MEd Macquarie Associate Professor, The University of Melbourne Position: Director

SHEPHERD, ALISTAIR: BA (Hons), MA, MA (Communication) RMIT Position: Executive Officer (Postgraduate Marketing) SIVATHASH, BALA: MSc (UK), BEng India, MCSE Position: Systems Support Officer STANGER, AMANDA: BBusMgmt, QUT Position: Alumni Advancement Officer TAN, MICHAEL Position: Porter TEMPLETON, HETTY Position: Trainee Support Officer TINWORTH, KOBY Position: Executive Assistant to the General Manager and Associate Dean (Academic Programs)

BEECHAM, ROD: BA Monash, MLitt Oxford, MInfSys SUT Position: Learning Advisor

ROCCHI, BARBARA : BAppSci, Curtin Position: Information Librarian

CIANNON, CAZALY: BA Position: Research Assistant

WILSON, TRISH: BA Canterbury, NZ, DipLIS Victoria University Wellington Position: Team Leader, IALS – Education, Economics and Commerce, Law

DAVIES, MARTIN: BA Deakin, RSA CELTA Cambridge, BA, PhD Flinders, GradDipEd, PhD Adel Position: Senior Lecturer in Higher Education JONES, ANNA: BA, DipEd, GradDip(TESOL), MEd Position: Lecturer in Higher Education LEVER, REBECCA: BA Griffith, GradDipBusAd Glasgow Position: Programs and Publications Coordinator LOWE, MELISSA Position: Transition Coordinator

TRUONG, LINH: BE, BSc Position: Core Services Specialist

PESINA, JENNY: BDesign (Multimedia) SUT Position: Multimedia Developer PUGLIELLI, SONIA Position: Executive Assistant SHAW, JENNIFER: DipIT Chisholm Position: Multimedia Administrative Assistant

WHITE, SAM: CertSmallBusMgmt Glenormiston Position: Enquiries Officer (Graduate School)

WAECHTER, TREVOR: BEng, BSc, MSc Adel, PhD Cambridge Position: Learning Advisor

WILKINS, BRONYA: BA Victoria NZ Position: Career Programs Officer

XUE, JUNYING (JUNE): BSc, DipInfoTech Holmesglen Position: Web Developer

WONG, BILLY: Position: Systems Support Officer

52 Faculty of Economics and Commerce

CLARKE, OWEN Position: Library Assistant JONES, GREG Position: Library Assistant

MORRIS, GAYLE: BA, GradDip (Post-secondary Education) Edmonton, MEd Glasgow, PhD Position: Lecturer in Higher Education

VELLU, PHYLLIS: MA India Position: Executive Assistant to the Dean

CAELLI, LESLEY: BA Ballarat, GradDipInfoMgmt, MIMS Monash Position: Information Consultant

ANDONOV, PAUL: BInfoSci, DipComp VUT Position: Manager Multimedia

TRAJCEVSKA, VESNA Position: Academic Programs Assistant (Master of Applied Commerce Programs)

VASSILEV, SPASSIMIR Position: Systems Support Officer

Giblin Economics and Commerce Library Staff

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CONTACT THE FACULTY Mailing address:

The Faculty of Economics and Commerce The University of Melbourne Victoria 3010 Australia

Telephone:

+ 61 (03) 8344 5317

Facsimile:

+ 61 (03) 9347 3986

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, April 2007 Š The University of Melbourne