Published by: CCA Publications

A special thanks to Sharon Taing,
Siyara Ranasinghe, Kimberly Kurniawan
and Arjya Roy for making this article possible.

Source: MOU with Monash University

Navigating the capstone unit

A capstone unit is a pivotal step in the academic journey of any Monash Business School student. Culminating your course, this comprehensive unit provides a valuable opportunity to showcase the knowledge and skills you've garnered throughout your degree; bridging the gap between theory and real-world practice. While its importance is undeniable, many students approach the capstone with uncertainty. To dispel any unknowns and ensure a successful experience, here's a look at what students can expect and how to make the most of this essential experience.

What is a capstone unit?

A capstone unit is a final year unit that is typically undertaken in the last semester of your course. It is designed to integrate and apply learning from previous coursework in a more professional setting. Capstone units are generally separated into three main categories.

 1. Coursework
2. IndustryExperience
3. InternationalExperience

It is always best to consult your course handbook to understand which capstone units you can consider as the list of available capstone units may differ for some courses and majors. Some courses or majors may also have specific capstone unit requirements. It is possible to take additional capstone units to study as electives.

Coursework

Coursework capstone units are listed under the capstone unit heading in the course handbook. These units are largely taught in lectures, workshops or tutorial classes like most other Monash units. These can typically be enrolled into by yourself and do not have any required application processes.

Industry Experiences

Roughly speaking, there are 3 main industry experiences that a student at Monash Univerisity can explore as a Commerce capstone. For example:

Monash sourced industry placement are defined placements arranged by the IE team at Monash. These can be either in Australia or Overseas. As these placements are academic in nature they are unpaid. Placement categories consist of various commerce disciplines from HR to international business and with over 400 partner host organisations a wide range of options are available. Further details regarding eligibility and application for a Monash sourced industry placement can be found here.

Student sourced industry placements are, as the name suggests, placement opportunities arranged by you. The application process for student placements includes specific criteria for host organisations among other eligibility guidelines that must be satisfied to undertake a student sourced placement as a capstone unit. Further details regarding eligibility and application for a student sourced industry placement can be found here.
Industry Consulting projects involve groups of up to 5 students from diverse commerce disciplines working alongside industry partners to solve real life business problems. Reflecting work done by business consultants in professional settings; consulting projects allow for a more in-depth and practical focus to your studies. Further details regarding eligibility and application for an industry consulting project as your capstone can be found here.

International Experience

Monash offers a variety of international experiences, typically in the form of study tours, which can be undertaken as your capstone unit. These are mainly one to two week intensive courses conducted during summer or winter break in-person overseas; allowing yourself to be immersed in the business environment you are studying. Examples of previous study tour locations include Germany, Italy, Japan and South Korea among others. Like industry experiences, international experiences have application processes before these units can be undertaken. For further information regarding international experiences you can take as your capstone unit consult the international experiences section of your course’s handbook as well as the Monash Business School website.

When to start thinking about your capstone unit

Though the capstone unit is undertaken in your final year of studies it is best to start thinking about your capstone as early as the end of your first year of study. This is due to the fact that many capstone units can have highly competitive selection processes due to limited places, while others may have strict eligibility requirements. To ensure you are able to undertake the capstone unit you desire you should consider researching your capstone units options ahead of time and consult your course advisor if you are unsure about any requirements. Some applications for capstone units close several months before the unit takes place, while others only run during certain times of the year. Planning your progression and application beforehand will allow you to be fully prepared and ensure the best chances for a fulfilling experience with your capstone unit. 

From our CCA Members:

In place of my capstone unit I completed one of the study tours offered at Monash called "Sustainable Business Careers" (BEX3722). This study tour was based in Melbourne and was a two week intensive unit. Personally, I just wanted to do a fun study tour unit without the hassle of travelling abroad which is why I specifically applied for this unit. The classes were mainly discussions and interactive activities, to succeed you just had to be willing to participate and talk amongst the other students (There's no theory aspect to this unit). You learn about how different businesses implement sustainable practices into their business model. Through classes and visits you'll notice that sustainability means something different to everyone, and so the overarching aim of this unit is to explore the idea of what sustainability means to you. Ideally you’d want to take this unit at the end of your degree as it's meant to give you a somewhat worldly view on how to approach your career and the impact you can make in the corporate world. The unit was lots of fun and was highly interactive. I would recommend it to anyone wanting to do a laid-back capstone unit.

Siyara Ranasinghe

During the summer, I completed a 12CP student-sourced placement (BEX3012) with one of the Big Four banks in their Private Wealth stream. This internship taught me a lot about the industry, including the challenges of adjusting to corporate culture and working full-time. Despite these challenges, the experience significantly boosted my confidence in the industry. Initially, I lacked a lot of self esteem as I've never been in corporate and was unsure on how to express my interest for future opportunities. When I finally gathered the courage to speak with my team lead about it, she informed me that a position was available for me to roll off into and that she would discuss my interest with the manager, which led to me staying on as a full-time employee. One valuable tip that I learnt was to never be afraid to ask for opportunities, as the answer would always be a no unless you ask. So always ask even if you think you know what the outcome will be!

Kimberly Kurniawan

I completed BEX3012 Industry placement in Summer semester A of 2022 for a self sourced placement. It was an experience I had already committed to and was looking forward to, so it was extra nice to have the experience credited towards my degree on top of it (and also meant I could underload in a later semester and still finish my degree “on time”). The application process is pretty straightforward and includes answering placement proposal questions. I’d definitely recommend keeping an eye out for the unit application dates regardless of if you already have an internship secured or are currently considering internship opportunities and want it counted towards your degree! To my knowledge, it’s not possible to have an internship counted after it has passed as there are assessment tasks you will need to complete for the capstone unit while you are on placement!
The difference between the different industry placement unit codes will depend on the duration of the internship (see further information here).  A resource I’d like to share for searching for an internship is the GradConnection unofficial calendar. You can find it just below :).

Sharon Taing

This article is published by CCA, a student association affiliated with Monash University. Opinions published are not necessarily those of the publishers. CCA and Monash University do not accept any responsibility for the accuracy of information contained in the publication.