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) demonstrate comprehensive theoretical and applied economic knowledge.; (2) apply qualitative and quantitative economic techniques to analyse and evaluate key economic information to inform effective decision-making.; (3) be effective and perceptive communicators of economic information to specialist and non-specialist audiences.; (4) be effective team members and work effectively and collaboratively with others.; (5) apply reflective and critical thinking skills to economic problems across diverse contexts with responsibility and accountability.; and (6) demonstate awareness of ethical, cultural, social and sustainability issues relevant to the discipline..

Broadening guidelines

All students studying towards a Bachelor's Degree at UWA are required to Broaden their studies by completing a minimum of four units (24 points) of study outside their degree specific major. For students in a Combined Bachelor's masters Course, you have elected to pursue a highly specialised and in-depth program of study in your chosen field. While you are encouraged to use the free elective units available in your course to study in other disciplines offered at UWA, your formal requirement to broaden your course will be met through the Honours and Postgraduate units which form an integral part of your course.

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


BH005 Bachelor of Philosophy (Honours)

Overview of unit sequence

Professional Economics is a degree-specific double major comprising:

  • four Level 1 units
  • five Level 2 units
  • six Level 3 units
Key to availability of units:
S1 = Semester 1; S2 = Semester 2; SS = summer teaching period; N/A = not available in 2021;
NS = non-standard teaching period

Note: Units that are indicated as N/A may be available in 2022 or 2023.

Students who commenced Professional Economics under the Bachelor of Commerce prior to 2021: You may follow the structure listed in the 2020 handbook If you wish to complete your major following the new structure below, please contact your Student Advising Office for advice.

Level 1

Degree-specific major units
Take all units (24 points):
Availability Unit code Unit name unit requirements
S1, S2 ECON1101 Microeconomics: Prices and Markets
S1, S2 ECON1102 Macroeconomics: Money and Finance
S1, S2 FINA1221 Introduction to Finance
Incompatibility:
FINA2221 Introduction to Finance
S1, S2 STAT1520 Economic and Business Statistics
Prerequisites:
ATAR Mathematics Applications
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 (ID 388)
Bridging units
Students who have not achieved a scaled mark of at least 50 in Mathematics Methods ATAR or equivalent or higher are required to complete ECON1111.
Availability Unit code Unit name unit requirements
S1 ECON1111 Quantitative Methods for Business and Economics
Prerequisites:
Mathematics Applications (ATAR)
or
WACE Mathematics 2C/2D
or
TEE Discrete Mathematics
or
MATH0700 Preparatory Mathematics
Incompatibility:
Mathematics Methods (ATAR)
or
higher; WACE Mathematics 3A/3B
or
higher; TEE Applicable Mathematics; TEE Calculus;
or
MATH1701 Introductory Mathematics Foundations

Level 2

Degree-specific major units
Take all units (24 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
S1, SS ECON2271 Introductory Econometrics
Prerequisites:
STAT1520 Economic and Business Statistics
or
equivalent; ECON1111
or
equivalent.
S2 ECON2272 Intermediate Mathematics for Economists
Prerequisites:
ECON1111 Quantitative Methods for Business and Economics (ID 215)
or
equivalent
and
STAT1520 Economic and Business Statistics (ID 397)
Incompatibility:
ECON3272 Intermediate Mathematics for Economists (ID 237)
Degree-specific major units
Take unit(s) to the value of 6 points:
Availability Unit code Unit name unit requirements
S2 ECON2105 Rise of the Global Economy
Prerequisites:
ECON1101 Microeconomics: Prices and Markets
or
ECON1000 Economics for Business
or
BUSN1103 Foundations of Global Business
Incompatibility:
ECON1105 Rise of the Global Economy
S1 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 FINA2205 Quantitative Methods for Finance
Prerequisites:
STAT1520 Economic and Business Statistics (
or
equivalent)
and
FINA1221 Introduction to Finance (
or
equivalent);
for pre-2012 courses: STAT1520 Economic and Business Statistics (
or
equivalent) and six points of calculus

Level 3

Degree-specific major units
Take all units (18 points):
Availability Unit code Unit name unit requirements
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 ECON3371 Econometrics
Prerequisites:
ECON2271 Introductory Econometrics
Degree-specific major units
Group A—take unit(s) to the value of 6 points:
Availability Unit code Unit name unit requirements
N/A ECON3206 Economic Analysis Project
Prerequisites:
completion of at least 96 points of units and enrolled in the Professional Economics double major.
NS, S1, S2 WILG3001 Professional Experience Practicum
Prerequisites:
completion of at least 48 point of units and enrolment in the Political Science and International Relations major
or
the Linguistics major and approval by the unit coordinator
or
completion of 96 points of units and enrolment in the Business Management major
or
Enterprise and Innovation major
or
Global Business major
Incompatibility:
BUSN3348 Business Practicum
or
HUMA2901 Arts Practicum
or
POLS3326 Political Science Internship
or
WILG2201 Professional Experience Practicum
or
PARL3399 WA Parliamentary Research Program.
Degree-specific major units
Group B—take unit(s) to the value of 12 points:
Availability Unit code Unit name unit requirements
S2 ECON3205 Health Economics
Prerequisites:
ECON2233 Microeconomics: Policy and Applications
N/A 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
S1 ECON3220 Development Economics
Prerequisites:
Completion of at least two Level 2 units in the Economics
or
Professional Economics majors.
S2 ECON3235 International Trade
Prerequisites:
Any two Level 2 economics units in the Economics
or
Professional Economics majors.
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 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)
S2 ECON3395 Economic Policy
Prerequisites:
ECON2233 Microeconomics: Policy and Applications

Choosing your degree-specific major

Specialised degrees – Bachelor of Advanced Computer Science (Honours), Bachelor of Automation and Robotics, Bachelor of Environmental Design, Bachelor of Music

You must satisfy the requirements of the degree-specific major in your degree before you complete your course. (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.)

Bachelor of Philosophy, Politics and Economics

This comprehensive degree does not allow you to choose a double major.

General degrees

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.

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