UWA Handbook 2017

Major details

FURTHER INFORMATION

Eloise Ambrose

I chose to study at UWA because its flexible course structure allowed me to combine a major in Economics with a major in Political Science and International Relations, while pursuing a third major in Italian Studies through the Diploma in Modern Languages. My studies led to an internship in Sydney performing cost–benefit analysis and an internship in Perth working under an economic policy adviser.

Economics major

The rise and fall of economies, future employment prospects, incomes and living standards are all at the heart of economics. In a number of countries, elections are won or lost on the basis of economic issues such as taxation, debt or deficits. The Economics major prepares you for work in financial institutions, government, international agencies and the private sector as a forecaster, analyst or consultant. The major includes core subjects in both microeconomics and macroeconomics. Microeconomics provides the framework for analysing issues in taxation, trade and the competitive structure of markets, while macroeconomics focuses on the forces that influence long-term economic growth, inflation, unemployment and the balance of payments. Students also develop the capacity to understand the fundamental workings of the economy and markets, and implications of economic policy. The Economics major can be combined with a major in Finance if you are interested in pursuing a career as a financial economist.

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) undertake specific economic research that critically evaluates theoretical and/or applied issues; (3) communicate the results of economic research to fellow economists as well as a range of potential stakeholders including other business professionals, policymakers in government and the public at large; (4) achieve the preceding objectives irrespective of whether they are working as an individual analyst or as a member of a team of professionals; and (5) 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

Degree-specific major

Economics can 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

Economics is a degree-specific single major comprising:

  • two Level 1 units
  • three Level 2 units
  • three 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 2017

Note: Units that are indicated as N/A may be available in 2018 or 2019.

Bachelor of Commerce students completing a second major in Engineering Science must complete CITS2401 Computer Analysis and Visualisation as the Level 2 option to meet the requirements of the major.

Level 1

Take all units (12 points):
Availability Unit code Unit name  Unit rules
S1, S2 ECON1101 Microeconomics: Prices and Markets None
S1, S2 ECON1102 Macroeconomics: Money and Finance None
Take all complementary units (24 points):
Availability Unit code Unit name  Unit rules
S1, S2 ACCT1101 Financial Accounting None
S1, S2 MGMT1135 Organisational Behaviour Incompatibility: MGMT2235 Organisational Behaviour
S1, S2 MKTG1203 Marketing Management Incompatibility: MKTG2203 Marketing Management
S1, S2 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

Take all units (12 points):
Availability Unit code Unit name  Unit rules
S1, S2 ECON2233 Microeconomics: Policy and Applications Prerequisites: ECON1101 Microeconomics: Prices and Markets
S2 ECON2234 Macroeconomics: Policy and Applications Prerequisites: ECON1102 Macroeconomics: Money and Finance
Take unit(s) to the value of 6 points:
Availability Unit code Unit name  Unit rules
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
S1, S2, SS ECON2271 Business Econometrics Prerequisites: STAT1520 Economic and Business Statistics; or equivalent

Level 3

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

Take unit(s) to the value of 18 points:
Availability Unit code Unit name  Unit rules
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
S1 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
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
S2 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 ECON3301 Game Theory and Strategic Thinking Prerequisites: ECON2233 Microeconomics: Policy and Applications
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
S1 ECON3310 History of Economic Ideas Prerequisites: ECON2233 Microeconomics: Policy and Applications; for pre-2012 courses: none
S1 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)
S2 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
S2 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 Economics degree-specific major can be included in the Bachelor of Commerce course.

Example: Course Study Plan: CSP002-ECNSM (opens in a new window)

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

Choosing a second major

You also have the option to choose a second major from those available in the Bachelor of Arts, Bachelor of Commerce, Bachelor of Design or Bachelor of Science course, giving you the opportunity to pursue your interests no matter how different they are.

The following example illustrates how the Economics degree-specific major can be combined with a second major in the Bachelor of Commerce course.

Example: Course Study Plan: CSP002-ECNSM-Generic (opens in a new window)

For more examples of combinations of majors, search the study plans .

Economics can also be taken as a second major.

Second major

Second major

Economics can be taken as a second major in the following degree courses:

BP001 Bachelor of Arts
BP002 Bachelor of Commerce
BP003 Bachelor of Design
BP004 Bachelor of Science
BH005 Bachelor of Philosophy (Honours)

Overview of unit sequence

The Economics second major is a single major comprising:

  • two Level 1 units
  • three Level 2 units
  • three Level 3 units
Key to availability of units:
S1 = Semester 1; S2 = Semester 2; SS = summer teaching period; N/A = not available in 2017

Note: Units that are indicated as N/A may be available in 2018 or 2019.

Bachelor of Commerce students completing a second major in Engineering Science must complete CITS2401 Computer Analysis and Visualisation as the Level 2 option to meet the requirements of the major.

Level 1

Take all units (12 points):
Availability Unit code Unit name  Unit rules
S1, S2 ECON1101 Microeconomics: Prices and Markets None
S1, S2 ECON1102 Macroeconomics: Money and Finance None

Level 2

Take all units (12 points):
Availability Unit code Unit name  Unit rules
S1, S2 ECON2233 Microeconomics: Policy and Applications Prerequisites: ECON1101 Microeconomics: Prices and Markets
S2 ECON2234 Macroeconomics: Policy and Applications Prerequisites: ECON1102 Macroeconomics: Money and Finance
Take unit(s) to the value of 6 points:
Availability Unit code Unit name  Unit rules
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
S1, S2, SS ECON2271 Business Econometrics Prerequisites: STAT1520 Economic and Business Statistics; or equivalent

Level 3

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

Take unit(s) to the value of 18 points:
Availability Unit code Unit name  Unit rules
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
S1 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
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
S2 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 ECON3301 Game Theory and Strategic Thinking Prerequisites: ECON2233 Microeconomics: Policy and Applications
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
S1 ECON3310 History of Economic Ideas Prerequisites: ECON2233 Microeconomics: Policy and Applications; for pre-2012 courses: none
S1 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)
S2 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
S2 ECON3395 Economic Policy Prerequisites: ECON2233 Microeconomics: Policy and Applications

Choosing a second major

The flexible structure of an undergraduate course allows you the option of including a second major. You have the choice to either nominate your second major when you first enrol in the course or delay it until your second year. For a major to be recorded on your academic record it must be nominated before the requirements of the course are completed.

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 Economics can be included as a second major in an undergraduate degree course.

Example: Course Study Plan: CSPGeneric-DSMGeneric-ECNSM (opens in a new window)

For more examples of combinations of majors, search the study plans .

Economics can also be taken as a degree-specific major.