Recognition of Excellence Policy

Purpose To define the Monash Business School’s framework for recognising students’ academic excellence through prizes and named awards.
Scope The prizes and named awards set out in this policy are available to students enrolled in courses and units managed by the Monash Business School.
This policy excludes coursework scholarships and bursaries. All coursework scholarships and bursaries must be established in accordance with the University’s Coursework Scholarships and Bursaries Policy and approved by the Dean.

Policy Statement

1. Prize portfolio
The Monash Business School awards prizes in the following categories:

  • Course prizes
  • Unit prizes
  • Other named prizes with specific criteria.

1.1 Course prizes are subject to the approval of the Dean on the recommendation of the:

  • Faculty Education Committee for coursework prizes
  • Research Degrees Committee for high degree by research prizes.

A Course prize may be presented annually to the students with the highest Weighted Average Mark (WAM) in a range of courses across Monash Business School’s coursework portfolio. No course prize will be given where the highest WAM in the course is less than a Distinction (i.e.below 70%). Where two or more students tie for the highest rank score, joint awards will be given.

The list of course prizes to be offered will be endorsed annually by the Faculty Education Committee.

1.2 Unit prizes may be awarded annually to the student(s) with the highest result in coursework units at 1000-6000 level, subject to the criteria outlined below (see section 2.2). The list of units where a prize may be awarded will be endorsed annually by the Faculty Education Committee.

1.3 Other named prizes

Monash Business School may award other prizes with specific eligibility criteria. The award of these prizes may be based on a wider range of criteria than academic performance, such as extra-curricular activities undertaken by students or contribution to the community. Eligibility may also be restricted to specific groups of students, for example, international students or female students, to align with particular strategic initiatives.

A list of all named prizes to be awarded will be provided to the Faculty Education Committee for endorsement annually.

2. Eligibility and ranking methodology

2.1 Course prize
To be eligible for a course prize, a student must have completed at least 50% of the units for the course at Monash University and course-completed in the defined time period.

Monash Business School calculates a ranking of all eligible students using the University’s Weighted Average Mark (WAM) system. Only FBE-owned units taken by the student for the relevant course contribute to the ranking calculation.

The following unit results are included:
1. marks from the student’s current enrolment;
2. marks from previous enrolment attempts in the units required for the course (except where the student was enrolled for a different course at the time of that failed unit attempt);
3. specified credits awarded for faculty units where a grade is assigned to the credit.

The following are excluded from the ranking calculation:
4.   credits awarded for units outside the Faculty of Business and Economics and Monash University; and
5.   Monash College units.

Monash Business School reserves the right not to award a course prize where in the opinion of the Deputy Dean Education it would be inappropriate due to factors such as, but not limited to, the size of the cohort of eligible students, or the overall standard of achievement.

Monash Business School’s decision on course prize winners is final.

2.2 Unit prize

A unit prize will be awarded to the student (or students in the event of a tie) with the highest final mark, provided that:

  • the highest mark is a High Distinction (80% minimum);
  • the unit carries a minimum value of 6 Credit Points towards a Faculty
  • of Business and Economics degree;
  • for all units except 4000 and 6000 level, a minimum of 20 students are enrolled in the unit as at census date.

Exclusions:

  • China, Malaysia and South Africa specific units
  • ONLINE units taught for non-FBE courses
  • Special units created for individual educational arrangements.

Monash Business School reserves the right to apply additional selection criteria for any unit prizes at the discretion of the Deputy Dean Education.

Monash Business School’s decision on unit prize winners is final.

2.3 Other named prize
A student must satisfy the eligibility criteria defined for the prize.

Except where an application process is specified for a particular prize, all eligible students will be automatically considered for prizes.

3. Dean’s Lists
Certificates are awarded annually to students who meet the criteria for the following Dean’s Lists, provided that their WAM is also higher than the minimum quality level that applies to these Lists, which is Distinction (70%).

3.1 Dean's Honour List

  • The top two percentile of the completing student population in each undergraduate degree portfolio;
  • The top two percentile of the completing student population across all Masters coursework degrees; and
  • all completing Honours students who achieve first class (H1) honours.

3.2 Dean’s Commendation List 

  • The two to five percentile of the completing student population in each undergraduate degree portfolio;
  • The two to five percentile of the completing student population across all Masters coursework degrees; and
  • All completing Honours students achieving upper second class (H2A) honours.

4. Awards Event

Monash Business School holds an annual awards event where a range of prizes will be presented in person. Prizes not awarded at the event will be mailed (by post or electronically) to the recipients, provided Monash Business School is able to confirm a current contact address.

5. University awards and prizes
Selection of the recipients for the faculty awards listed in the University’s Recognition of Excellence policy will be subject to the approval of the Dean.

Supporting procedures 
Supporting guidelines 
Responsibility for implementation Dean
Deputy Dean Education
Associate Dean (Learning and Teaching)
Heads of Department
Course Directors
Group Manager, Student Services
Group Manager, Marketing and Recruitment
Status Revised
Key Stakeholders Deputy Dean Education
Associate Dean (Learning and Teaching)
Heads of Department
Course Directors
Group Manager, Student Services
Students
Governance Record

Faculty Board
Meeting number: 6/07
Meeting date: 6 December 2007
Agenda item: 6.1

Faculty Board
Meeting number: 1/08
Meeting date: 12 March 2008
Agenda item: 9.3

Faculty Board
Meeting number: 4/09
Meeting date: 12 August 2009
Agenda item: 7.8

Faculty Board
Meeting number: 2/10
Meeting date: 6 May 2010
Agenda item: 8.6.1

Faculty Board
Meeting number: 3/11
Meeting date: 13 July 2011
Agenda item: 8.3.2

Faculty Education Committee
Meeting number: 1/16
Meeting date: 11 February 2016
Agenda item: 9

Faculty Education Committee
Meeting number: 8/17
Meeting date: 14 September 2017
Agenda item: 11

Faculty Education Committee
Meeting number: 10/17
Meeting date: 23 November 2017
Agenda item: 15

Definitions 
Related legislation 
Related policies 
Related documents 
Date Effective Semester 1, 2016
Review Date 24 July 2019
Owner Faculty of Business and Economics
Author Deputy Dean Education 
Content Enquiries Academic Governance Unit
Email: buseco-governance@monash.edu