Professional Economics major

The Economics double major provides you with a concentrated program of study in economics and is designed for students seeking to become professional economists and pursue careers as specialist economists in government and business, economic consultants, economic analysts and policy advisers. Students study microeconomic and macroeconomic frameworks to rationally analyse general economic problems, establish conclusions and communicate the results of economic research to fellow economists, business professionals and policymakers. Students develop the capacity to analyse economic activities and issues both domestically and globally.

Outcomes

Students are able to (1) employ the framework of micro and macro economics to rationally analyse general economic problems and arrive at analytically sound conclusions; (2) interpret and undertake quantitative economic research; (3) identify and critically reflect on landmark events in Australia's economic history and in the rise of the global economy; (4) undertake specific economic research that critically evaluates theoretical and/or applied issues in the area of economics; (5) communicate the results of economic research to fellow economists as well as to a range of potential stakeholders including other business professionals, policymakers in government and the public at large; (6) achieve the preceding objectives irrespective of whether they are working as an individual analyst or as a member of a team of professionals; and (7) demonstrate an awareness of, and sensitivity to, the personal, social, ethnic and/or international backgrounds of other team members as well as stakeholders.

Degree-specific major

Professional Economics can only be taken as a degree-specific major in the following degree courses:

BP002 Bachelor of Commerce
BH005 Bachelor of Philosophy (Honours)

Overview of unit sequence

Professional Economics is a degree-specific double major comprising:

  • two Level 1 units
  • five Level 2 units
  • seven Level 3 units
  • four Level 1 complementary units
Key to availability of units:
S1 = Semester 1; S2 = Semester 2; SS = summer teaching period; N/A = not available in 2018

Note: Units that are indicated as N/A may be available in 2019 or 2020.

Level 1

Degree-specific major units
Take all units (12 points):
Availability Unit code Unit name unit requirements
S1, S2 ECON1101 Microeconomics: Prices and Markets
S1, S2 ECON1102 Macroeconomics: Money and Finance
Complementary units
Take all complementary units (24 points):
Availability Unit code Unit name unit requirements
S1, S2 ACCT1101 Financial Accounting
Incompatibility:
ACCT5432 Introductory Financial Accounting
S1, S2 MGMT1135 Organisational Behaviour
Incompatibility:
MGMT2235 Organisational Behaviour
S1, S2, SS MKTG1203 Introduction to Marketing
Incompatibility:
MKTG2203 Marketing Management
S1, S2, SS STAT1520 Economic and Business Statistics
Prerequisites:
Mathematics Methods ATAR
or
WACE Mathematics 3A/3B
or
MATH1720 Mathematics Fundamentals
or
ECON1111 Quantitative Methods for Business and Economics
or
MATH0038 Mathematical Analysis
or
equivalent
or
higher
Incompatibility:
STAT1400 Statistics for Science; STAT1510 Statistics A; STAT1530 Statistics B; STAT2210 Biometrics 1; MATH1020 Calculus, Statistics and Probability; SCIE1104 Science, Society and Data Analysis

Level 2

Degree-specific major units
Take all units (18 points):
Availability Unit code Unit name unit requirements
S1, SS ECON2233 Microeconomics: Policy and Applications
Prerequisites:
ECON1101 Microeconomics: Prices and Markets
S2 ECON2234 Macroeconomics: Policy and Applications
Prerequisites:
ECON1102 Macroeconomics: Money and Finance
S2, SS ECON2271 Business Econometrics
Prerequisites:
STAT1520 Economic and Business Statistics;
or
equivalent
Degree-specific major units
Take unit(s) to the value of 12 points:
Availability Unit code Unit name unit requirements
S1 ECON2105 Rise of the Global Economy
Prerequisites:
ECON1101 Microeconomics: Prices and Markets
Incompatibility:
ECON1105 Rise of the Global Economy
S2 ECON2106 Asia in the World Economy
Prerequisites:
ECON1101 Microeconomics: Prices and Markets
or
12 points Level 1 units in business
Incompatibility:
ECON3203 Asia in the World Economy; ECON2203 Asia in the World Economy
S2 ECON2245 Business Economics
Prerequisites:
ECON1101 Microeconomics: Prices and Markets

Level 3

Degree-specific major units
Take all units (18 points):
Availability Unit code Unit name unit requirements
S1 ECON3272 Intermediate Mathematics for Economists
Prerequisites:
ECON2271 Business Econometrics; for pre-2012 courses: STAT1520 Economic and Business Statistics;
or
equivalent
Incompatibility:
ECON2272 Intermediate Mathematics for Economists
S1 ECON3302 Applied Microeconomics
Prerequisites:
ECON2233 Microeconomics: Policy and Applications
or
equivalent
Incompatibility:
ECON3364 Microeconomic Theory
S2 ECON3303 Applied Macroeconomics
Prerequisites:
ECON2234 Macroeconomics: Policy and Applications
Incompatibility:
ECON3365 Macroeconomic Theory
Degree-specific major units
Take unit(s) to the value of 24 points:

Including at least 1 of ECON3235 International Trade, ECON3236 International Finance or ECON3395 Economic Policy

Availability Unit code Unit name unit requirements
N/A ECON3204 Finance and Economics for Minerals and Energy
Prerequisites:
any Level 2 Finance
or
Economics unit; for pre-2012 courses: ACCT1101 Financial Accounting
and
ECON1101 Microeconomics: Prices and Markets
Incompatibility:
ECON2204 Finance and Economics for Minerals and Energy
S2 ECON3205 Health Economics
Prerequisites:
ECON2233 Microeconomics: Policy and Applications
S1 ECON3210 Monetary Economics
Prerequisites:
ECON2234 Macroeconomics: Policy and Applications
or
any level 2 Finance unit; for pre-2012 courses: none; for the Philosophy, Politics and Economics major, ECON2105 Rise of the Global Economy
Incompatibility:
ECON2210 Monetary Economics
S2 ECON3220 Development Economics
Prerequisites:
ECON2234 Macroeconomics: Policy and Applications
S2 ECON3235 International Trade
Prerequisites:
ECON2234 Macroeconomics: Policy and Applications; for pre-2012 courses: none
Incompatibility:
ECON2235 International Trade
S1 ECON3236 International Finance
Prerequisites:
ECON2234 Macroeconomics: Policy and Applications
or
any Level 2 Finance unit; for pre-2012 courses: none
Incompatibility:
ECON2236 International Finance
S1 ECON3301 Game Theory and Strategic Thinking
Prerequisites:
ECON2233 Microeconomics: Policy and Applications
S1 ECON3310 History of Economic Ideas
Prerequisites:
ECON2233 Microeconomics: Policy and Applications; for pre-2012 courses: none
S2 ECON3350 Money, Banking and Financial Markets
Prerequisites:
ECON2234 Macroeconomics: Policy and Applications (
or
equivalent)
or
any Level 2 Finance unit; for pre-2012 courses: ECON1102 Macroeconomics: Money and Finance (
or
equivalent)
S1 ECON3371 Econometrics
Prerequisites:
ECON2271 Business Econometrics; for pre-2012 courses: ECON2271 Business Econometrics
and
ECON2272 Intermediate Mathematics for Economists (
or
equivalent matrix, algebra
or
statistics)
N/A ECON3372 Advanced Mathematics for Economists
Prerequisites:
ECON2272 Intermediate Mathematics for Economists
or
ECON3272 Intermediate Mathematics for Economists
S1 ECON3395 Economic Policy
Prerequisites:
ECON2233 Microeconomics: Policy and Applications

Choosing your degree-specific major

You must satisfy the requirements of a degree-specific major before you complete your course. The flexible structure of an undergraduate course allows you to try out a number of different subjects to see what interests you before nominating your degree-specific major. You have the choice to either nominate your degree-specific major when you first enrol in the course or delay nominating it until your second year.

To plan the first year of your study without nominating a degree-specific major, you are advised to choose units that will pave the way to two or more degree-specific majors that are of interest to you. For examples of the choice of units available in first year, search the first-year study plans .

To fully understand the structure of an undergraduate course, read the course structure information and the Undergraduate Degree Course Rules.

The following example illustrates how the Professional Economics degree-specific major can be included in the Bachelor of Commerce course .

Example: Course Study Plan: CSP002-ECNPF

There are more choices open to you. For more examples, search the study plans .