Note: This is a copy of the web page I made to organize and advertise the conference.
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Supported by the School of Graduate Studies, Academic Activity Grants
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Supported by the Faculty of Arts Postgraduate Conference Assistance Scheme
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Supported by University of Melbourne Postgraduate Association Student Initiatives Funding

We haven't made any arrangements for accommodation at any university colleges, but I have done a little looking into budget accommodation nearby and here is what I have come up with.  I'm sorry to say that I'm not familiar with most of them, so I cannot make any recommendation.

YHA Queensberry Hill (The closer of the two hostels)

YHA Chapman Gardens (Further away but I have been there a couple of times and it is very active and gets a constant crowd of travellers)

Anything in the city is close as well, just a quick tram ride away, or a 15 minute or so walk. 

I found a web site that reviews backpacker accommodation.  Those in the city that rated well include:
The Greenhouse and The Melbourne Connection Travellers Hostel

For less budget and more standard accommodation, the closest motel is Flag Elizabeth Tower Motel Around $124-138 a night.  Also close are Flag Travel Inn ($135-$150) and
Flag Hotel Downtowner on Lygon ($135-$149).

Hope that helps!!