Monash University > Business and Economics > ASG > AGU > Policies

Coursework scholarships

1. PURPOSE

In addition to its participation in the University sponsored scholarship programs the Faculty of Business and Economics may fund other scholarships in order to attract, or in certain cases to maintain, the highest quality students to the Faculty.

The Faculty Executive Committee develops scholarship policies and broad implementation strategies to attract the highest quality students to the Faculty. Following consideration of the Faculty's budget projections each year, including pipelining scholarship commitments, the Faculty Executive Committee advises the Dean on the amount of funding to be invested in Faculty scholarship programs for the forthcoming year, the strategic priorities within the teaching programs to be targeted for new scholarships and the division of scholarships between various cohorts of students across the faculty .

On the advice of the respective teaching committees, the Faculty Board monitors the internal implementation procedures and ensures that all scholarships available to the Faculty are awarded to eligible candidates.

2. SCOPE

This document describes the policies and procedures for the internal distribution of Faculty scholarships and for the selection of students as recipients.

3. POLICY DECISIONS BY FACULTY EXECUTIVE

3.1 Monash University Faculty Scholarships and International Awards for Excellence

All Faculty procedures must comply with relevant University policies and practice. The internal allocation of funds between various cohorts of students across the Faculty will be as follows:

Undergraduate

From the pool of money available for domestic students an amount equal to nine full scholarships (but allocated as 18 half scholarships) be set aside for domestic Honours students

Based on an estimate as to how many potential international Honours students would have at least as good an academic performance as the 18 th domestic student to be awarded an Honours scholarship, sufficient funding be set aside from the international pool of funds to award that number of scholarships to international Honours applicants.

Graduate

The funds for graduate scholarships are divided between each of five Departments (Econometrics is excluded because it does not offer a graduate program) and the MBA program on a pro-rata basis according to enrolled EFTSU.

3.2 Econometrics and Business Statistics Memorial Honours Scholarships

Two scholarships will be funded from Faculty reserves and donations held in a specific purpose trust. An Advisory Board, chaired by an eminent alumni member, will oversee the trust fund. The selection of the recipients for these scholarships will involve the participation of the Advisory Board members.

The scholarships will be funded at an amount equal to the International Awards for Excellence and will be awarded entirely on merit to either domestic or international students.

Renewal of the scholarship each semester shall be subject to satisfactory academic performance; this will normally mean maintaining a distinction grade average of 70% or above for the duration of the course of study.

These scholarships cannot be transferred to another course, either within or outside of the Faculty. Acceptance of the scholarship may be deferred for a maximum of one academic year.

3.3 Faculty Funded Coursework Masters Scholarships Domestic Commencing Students

Approximately 15 Graduate Coursework Scholarships will be funded for Australian fee-paying students who will be commencing a Masters by coursework in the Faculty. The scholarship will provide an amount to cover the cost of the tuition fees for the course of study, paid pro-rata for part-time enrolment.

These scholarships cannot be transferred from one course to another, either within or outside of the Faculty. Acceptance of the scholarship may be deferred for a maximum of one academic year.

Faculty procedures for the implementation of this policy must be approved by Faculty Board.

4. POLICY DECISIONS BY FACULTY BOARD

4.1 Monash University Faculty Scholarships and International Awards for Excellence

The funds for undergraduate programs are first allocated to the best commencing students according to the following processes:

Offers are made to any student who puts any faculty course in their top four preferences and has an ENTER of at least 99.0, or is judged by the Associate Dean (Undergraduate) to have a score in an alternative entry pathway qualification that is equivalent to an ENTER of 99.0 (IB students, MUFY students, Monash College students and Trinity students are judged against a predefined table of equivalent scores). Any other relevant students from unassessed pathways are referred to the Associate Dean (Undergraduate) for assessment of equivalence.

Following completion of this selection process for commencing students, any unallocated funds are used to support scholarships for high scoring returning students.

5. ADMINISTRATIVE PROCEDURES

The Faculty Office coordinates resources for the implementation of the procedures, generally via the staff in the Admissions Team at Caulfield, under the direction of the Deputy Dean Education/Associate Deans (Education).

The internal procedures required to administer the scholarships managed by the University's Admissions and Coursework Scholarships Unit are largely determined by the University's guidelines and timing. The procedures required to administer the Faculty funded scholarships may vary from the University procedures, particularly in terms of timing and responsibility for marketing.

Scholarships managed by the University's Admissions and Coursework Scholarships Unit

• Monash University Faculty Scholarships and International Awards for Excellence

• Vice-Chancellor's Undergraduate Research Scholarship

Scholarships managed by the Faculty of Business and Economics

• Econometrics and Business Statistics Memorial Honours Scholarships

• Faculty Coursework Masters Scholarships

Each of these groups has its own selection processes as described in the following:

5.1 MONASH UNIVERSITY FACULTY SCHOLARSHIPS AND INTERNATIONAL AWARDS FOR EXCELLENCE
Group Manager, Staff and Student Services	University practice includes the provision of advice to Faculty Managers from the Admissions and Coursework Scholarships Unit of the University regarding the funding available in the following year for scholarships in each of the categories of local and international coursework students, based on the Faculty's share of planned load. This information is provided in December each year and is passed on to the Associate Dean (Undergraduate) and Deputy Dean Education to action, cc to scholarships administrator for information.
UNDERGRADUATE Domestic and International
Associate Dean (Undergraduate)	• From the pool of money available for domestic and international students respectively an amount determined by Faculty policy is set aside for domestic Honours students (Domestic currently an amount equal to 9 FT, awarded as 18 half scholarships). • The remaining pools of funds for domestic and international scholarships are divided equally between undergraduate and graduate scholarships. • Criteria and timelines are confirmed and the scholarship administrator briefed.
Scholarships Administrator commencing students	• Selection for undergraduate scholarships is undertaken by the administrator, based on VTAC data provided by the Admissions and Coursework Scholarships Unit. • The funds for undergraduate programs are first allocated to the best commencing students according to Faculty Board policy • International admissions staff maintain a list of accepted equivalences for International students and other pathways are considered on a case by case basis with advice from Monash International. • Offers are also made to any students of similar standard who approach the Faculty during the change of preference period and advises they would change their preferences in favour of the faculty if offered an AFE. The same applies if a student approaches us at the stage of irregular offers after the first round of VTAC offers. • The administrator advises the Admissions and Coursework Scholarships Unit of the outcome of the selection process. They send offer letters to the students and monitor acceptances for the Faculty. • The Associate Dean (Undergraduate) is briefed on acceptance rates and any unallocated funds that may result from completion of this process. • Under direction from the Associate Dean (Undergraduate) remaining undergraduate funds are used to allocate scholarships to the best returning students.
Honours Coordinators	• Application forms for Honours AFE's are distributed in August each year or on request and are collected in either October (round 1) or following results release (round 2). • The very best of the applicants are also encouraged to apply for the Vice-Chancellor's Undergraduate Research Scholarship (see below for details).
Associate Dean (Undergraduate) Honours Scholarships	• Selection is initiated in December in consultation with Honours Coordinators. • Approximately one third of the local Honours AFE's are offered at this time - based upon the average result from the undergraduate program in units in the discipline/s in which the student indicates they intend to undertake Honours. • Offers are also made to international students on the same basis and at the same standard. • Applications received to that point from students outside Monash, and containing a full set of results, are also assessed for an equal level of performance and offers made accordingly. • A second round of applications are accepted after results have been released. The same selection process described above is again followed prior to the end of January. • Any remaining scholarships, domestic and international respectively, are then offered to the next best students.
Associate Dean (Undergraduate) Returning Students	Following completion of the selection process for commencing students, as described above, any unallocated funds are used to support scholarships for high scoring returning students. Returning undergraduate students who have completed at least six faculty units are automatically considered for selection. They are ranked on the basis of their average mark in faculty units. Offers are made until no further funds for undergraduate AFE's remain. Selection is done by the Associate Dean (Undergraduate Teaching). The outcome is communicated to the Scholarships Administrator for finalisation of the required processing.
GRADUATE Domestic and International
Deputy Dean Education	• The funds for graduate scholarships are divided between each of the Departments and the MBA program as determined by Faculty policy. The Departments/MBA are notified of the number of graduate full time equivalent scholarships available for allocation, together with procedures, etc. • The Departments/MBA are notified of the number of full time equivalent scholarships available for allocation, together with procedures and other documentation. • A scholarship committee, chaired by the Deputy Dean Education, selects applicants to be offered scholarships from the list of applications ranked by the Dept/MBA, and from their reserve lists as appropriate. • A report is made to all relevant parties during and at the completion of the selection process.
MBA/Dept - Heads and nominees	• Following advice on the number of scholarships to be offered, MBA/Departments choose to allocate scholarships on a full or part time basis within their budget allocation. (These funds are to be used primarily for commencing students). Applicants are then ranked utilising MBA/Dept criteria and procedures and a reserve list prepared. These lists are forwarded to the Deputy Dean Education. • Completed nomination forms are returned to the Scholarships Administrator in accordance with agreed timelines .
Scholarships Administrator	The administrator advises the Admissions and Coursework Scholarships Unit of the outcome of the selection process. They send offer letters to the students and monitor acceptances for the Faculty.

5.2. NOMINATIONS FOR THE VICE-CHANCELLOR'S UNDERGRADUATE RESEARCH SCHOLARSHIP
Associate Dean (Undergraduate)	• When the analysis of the Honours applicants for the Monash University Faculty Awards for Excellence or International Awards for Excellence is completed candidates with and average of at least 80 in the chosen Honours field of study are identified as potential nominees for this scholarship. • The Honours coordinator associated with the Honours program each of these students intends to take are contacted and requested to contact the student to determine if they are interested in being nominated for this scholarship. • A meeting of a group nominated by the Associate Dean (Undergraduate) is convened to rank the students on the basis of merit a requirement of the nomination process. • The outcome of the selection process is communicated to all relevant parties scholarship administrator, Monash University Graduate School , Faculty Committees.
Honours Coordinator	• The relevant students (identified in procedure described above) are contacted to determine if they are interested in being nominated for this scholarship. The Associate Dean (Undergraduate) is advised accordingly. • For those students who are agreeable to being nominated request and guide the preparation of a written application detailing their achievements. Ensure applications are forwarded to the Scholarships Administrator at least two days prior to the closing date for nominations
Scholarships Administrator	• Conveys the applications to the Monash University Graduate School by the deadline - usually mid-February.

5.3. ECONOMETRICS AND BUSINESS STATISTICS MEMORIAL HONOURS SCHOLARSHIPS

Head, Dept Econometrics

In October/November each year an advertisement is placed in the press indicating the availability of the two scholarships, eligibility, application process, etc.

Head, Dept Econometrics

• When the analysis of the Honours applicants for the Monash University Faculty Awards for Excellence and International Awards for Excellence is complete the HOD identifies the best prospective Honours students with the intention of majoring in Econometrics.

• In late January the Associate Dean (Undergraduate), as Chair, convenes a selection committee meeting consisting the Head of the Department and the Honours Co-ordinator of Econometrics and Business Statistics and as many of the current and recently retired professors of Econometrics from the faculty as are available at the time. This selection committee considers the best internal applicants and all direct applicants for the scholarships. The committee selects up to two successful candidates under the documented guidelines.

• The successful and unsuccessful students are notified of the outcome of the selection process.

4.4. FACULTY FUNDED COURSEWORK MASTERS SCHOLARSHIPS Domestic Commencing Students
Deputy Dean Education	• In June of the previous year liaise with the Group Manager, Business Development to organise advertisement of the scholarships in the press and elsewhere indicating the eligibility, application process, etc • Prior to finalisation of the Faculty budget, the number of scholarships available for first round offers, and subsequent rounds, is determined. • Funds allocated to the Coursework Masters Scholarships are divided between each of five departments (Econometrics is excluded because it does not offer a graduate program) and the MBA program on a pro-rata basis according to enrolled EFTSU. • The Departments/MBA are notified of the number of full time equivalent scholarships available for allocation, together with procedures and other documentation. • A scholarship committee, chaired by the Deputy Dean Education, selects applicants to be offered scholarships from the list of applications ranked by the Dept/MBA, and from their reserve lists as appropriate. • A report is made to all relevant parties during and at the completion of the selection process.
Scholarships Administrator	• Application forms and appropriate marketing material are forwarded to Departments/MBA to be sent to applicants, as appropriate • After the closing date applications are forwarded to Departments/MBA with a request to compile a list in order of merit of applications. Each area should also provide a reserve list. The initial list and the reserve list together need to contain at least twice as many names as the number made available for allocation. • Lists are collated and provided to the Deputy Dean Education. • On behalf of the Graduate School , make offers to those on the initial list and if not taken up to the reserve list of that area. In consultation with the Deputy Dean Education, any unallocated scholarship in one area will be reallocated to another area where the reserve list has not been taken up.
MBA/Dept - Heads and nominees	• Following advice from the Deputy Dean Education, MBA/Departments choose to allocate scholarships on a full or part time basis within their budget allocation. • Applicants are ranked and an initial list and a reserve list are forwarded to the Scholarships Officer • Following completion of the allocation of scholarships to eligible candidates, successful and unsuccessful applicants are advised of the outcome of the selection process within the MBA/Department .

5.5 MONITORING AND REPORTING
Scholarships Administrator	The Associate Dean (Undergraduate) is briefed on each stage of the selection process, acceptance rates and any unallocated funds that may result from completion of the selection process.
Associate Dean (Undergraduate)/Deputy Dean Education	Progress reports on the acceptance of scholarship offers (AFE and others listed below) are reported at both Undergraduate and Graduate Studies Committees respectively. The Faculty Executive Committee is also briefed. At the conclusion of the process a final report to the respective education committees also occurs.
Undergraduate/Graduate Studies Committee	Relevant Faculty policies and procedures are reviewed by the respective Committee of the Faculty annually, and advice provided to Faculty Board.

Supporting Procedures

Responsibilities for Implementation

Heads of Departments
Associate Dean Undergraduate
Deputy Dean Education

Key Stakeholders

Heads of Departments
Associate Dean Undergraduate
Deputy Dean Education

Approval

Faculty Board 4/09

Date Effective

1 August 2009

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