Credit Policy

Purpose To define those areas where the Faculty of Business and Economics applies requirements additional to the University's Credit Policy.

In particular, to provide guidelines for assessment and granting of credit for previous formal, informal and non-formal learning; and for formal studies undertaken during an approved cross-institutional, study abroad or exchange program.

This policy governs assessment and granting of credit towards all coursework qualifications offered by the Faculty of Business and Economics.

The granting of credit towards research qualifications is governed by the regulations of the University's Research Graduate School Committee (RGSC).

Scope The Faculty of Business and Economics complies with the University's Credit Policy and applies the following additional provisions.
Policy Statement

1. Key principles

1.1 Credit decisions are made solely on the basis of academic equivalence and relevance criteria, including:

  • the depth and breadth of the content and assessment of the previous study
  • learning outcomes
  • the time elapsed since completion
  • the equivalence of the study to the course for which credit is sought.

1.2 Credit decisions are made by designated credit assessors.

1.3 Credit decisions must be consistent with University and Faculty policies and course rules.

2.     Restrictions

2.1 Credit will not be granted for study undertaken whilst a student is on intermission, deferment or suspension from a Faculty of Business and Economics course.

2.2 Students may lodge no more than two applications for credit for any one course.

3.     Credit rules

3.1 The minimum proportion of study requirements must be satisfied (see 5 below)

3.2 In the application of credit decisions, course rules apply.

3.3 No distinction will be made between previous study that is part of  completed or incomplete qualifications in assessing credit.

3.4 The Faculty uses the University Mobility in Asia and the Pacific (UMAP) Credit Transfer Scheme (UCTS)/European Credit Transfer System (ECTS) when determining unit weighting for all credit determinations.

The following UCTS/ECTS weightings apply:

UCTS/ECTS Credit Weighting Monash Credit Points
 30  24
 22.5  18
 15  12
 7.5  6
3.5  Credit will only be granted for units with a grade equivalent to 50% or more. Units with an NP (or any other conceded pass) grade will not be considered for credit.

4. Cross-Institutional, Study Abroad, Exchange Study

Students must seek prior faculty approval of any cross-institutional, study abroad or exchange program which is undertaken for credit towards a Business and Economics course.

Enrolled students seeking credit for units undertaken at another institution will need to demonstrate that there is significant educational advantage that cannot be derived from studying Monash units. This applies to cross-institutional, study abroad and exchange study.

5.    Minimum Business and Economics proportion of study

Students must satisfy the Business and Economics minimum proportion of study requirements, as set out below:

5.1 Undergraduate courses:

  • a minimum of twelve units (72 credit points) from courses offered by Monash University, of which at least eight units (48 credit points) must be completed from the relevant degree portfolio
  • The total credit granted towards any one degree must not exceed 96 credit points

5.1.1 Undergraduate double degree courses managed by the faculty: the awarding of credit as detailed above applies. At least eight units (48 credit points) must be undertaken in each component of the double degree.

5.2 Graduate courses:

  • A minimum of half of the units within the award must come from Monash University courses, as shown in the table below
Course Total course credit points Minimum credit points to be completed in the course at Monash

CREDIT - Maximum credit points granted for non-Monash units

Graduate Diploma 48 24 24
Masters 48 24 24
Masters 72 36 36
Masters  96 48 48

5.3 Accreditation:

External accreditation may restrict the amount of credit that can be granted within certain courses.

6.  Units with Overlapping Content

In this section, "learning outcomes" means content and key teaching areas such as unit objectives, teaching style and assessment.

6.1 If units of equivalent credit points share an 80% or greater overlap in learning outcomes, then the units are considered equivalent and specified credit can be granted.

6.2 If units of equivalent credit points share less than 80% overlap in learning outcomes, then the units are not considered to be equivalent. In such instances, unspecified credit may be granted, in one of the following forms:

  • an unspecified course-grouped (Business and Economics) elective; or
  • an unspecified non-course grouped (non-Business and Economics) elective.

7. Time limits for applicability of previous study to a current enrolment

The Faculty has defined the following as reasonable time limits. Studies completed outside of these time limits will not be considered for credit. [Note: the time period is deemed to commence from the date of the unit result rather than the commencement of the unit.]

  • Undergraduate - 10 years prior to the credit application;
  • Graduate- 10 years prior to the credit application.

8.  Application process

8.1 Applicants must provide:

a) Original, or legally certified copies of, academic transcripts of previous studies, and

b) a detailed course structure for the previous course and detailed unit outlines for all units for which credit is sought. This information must relate to the year in which the unit was studied.

8.2 The Student Services Office will notify applicants in writing of the outcome of the application for credit and will adjust the student's academic record to reflect any credit awarded. Students must not consider credit to have been awarded until they receive official notification          from the Faculty Student Services Office. Students are required to formally accept the awarding of credit offered, This acceptance is required before student services can amend the student record.

8.3 Credit is awarded towards a specific course and is not automatically transferable if the student changes course - a new application for credit would be required.  Any requirements for recency of previous study will apply.

9.   Withdrawal of credit application

Students may advise the faculty in writing if they wish to withdraw any credit granted, provided that the credit has not already been used to complete their Business and Economics course.

Supporting procedures Credit staff procedures & Credit student procedures
Supporting guidelines  
Responsibility for implementation Deputy Dean Education
Associate Dean (Learning and Teaching)
Manager, Executive Services
Course Directors
Faculty Student Services Staff
Status Revised
Key Stakeholders Deputy Dean Education
Associate Dean (Learning and Teaching)
Manager, Academic Services
Course Directors
Faculty Student Services Staff
Governance Record

Faculty Board
Meeting number: 5/03
Meeting date: 8 October 2003
Agenda item:

Faculty Board
Meeting number: 5/07
Meeting date: 19 September 2007
Agenda item: 6

Faculty Board
Meeting number: 1/08
Meeting date: 12 March 2008
Agenda item: 9.2

Faculty Board
Meeting number: 1/09
Meeting date: 11 March 2009
Agenda item: 7.8

Faculty Board
Meeting number: 1/10
Meeting date: 10 March 2010
Agenda item: 8.5.4

Faculty Board
Meeting number: 4/10
Meeting date: 18 August 2010
Agenda item: 8.7.1

Faculty Board
Meeting number: 3/11
Meeting date: 13 July 2011
Agenda item: 8.3.1

Faculty Education Committee
Meeting number: 1/14
Meeting date: 21 February 2014
Agenda item: 11

Related legislation  
Related policies  
Related documents  
Date Effective 21 February 2014
Review Date February 2016
Owner Faculty of Business and Economics
Author Deputy Dean Education
Content Enquiries Academic Governance Unit