Economics major (MJD-ECNSM)
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) demonstrate comprehensive theoretical and applied economic knowledge; (2) apply sound economic reasoning to analyse key economic information used 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 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. Broadening is your opportunity to explore other areas of interest, investigate new disciplines and knowledge paradigms and to shape your degree to suit your own aspirations and interests. Many of you will be able to undertake more than this minimum amount of broadening study and we encourage you to do so if this suits your aspirations. Over the next few months you will find here some broadening suggestions related to your degree-specific major. While we know that many students value guidance of this sort, these are only suggestions and students should not lose sight of the opportunity to explore that is afforded by your Broadening Choices. Advice can also be sought from your Allocated Student Advising Office.
Economics can be taken as a degree-specific major in the following degree courses:
Overview of unit sequence
Economics is a degree-specific 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; N/A = not available in 2022 |
Note: Units that are indicated as N/A may be available in 2023 or 2024.
Bachelor of Commerce students completing a second major in Engineering Science are not required to complete STAT1520 (as MATH1011 and MATH1012 meet this requirement). In addition, students should substitute CITS2401 Computer Analysis and Visualisation as the Level 2 option to meet the requirements of the commerce major. Third-year options must include at least one of ECON3235 International Trade, ECON3236 International Finance or ECON3395 Economic Policy.
Level 1
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 |
|
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 |
|
Level 2
Take all units (12 points):
| Availability | Unit code | Unit name | unit requirements |
|---|---|---|---|
| S1 | ECON2233 | Microeconomics: Policy and Applications |
|
| S2 | ECON2234 | Macroeconomics: Policy and Applications |
|
Take unit(s) to the value of 6 points:
| Availability | Unit code | Unit name | unit requirements |
|---|---|---|---|
| S2 | ECON2105 | Rise of the Global Economy | |
| S1 | ECON2106 | Asia in the World Economy |
|
| S2 | ECON2245 | Business Economics | |
| S1 | ECON2271 | Introductory Econometrics | |
| S2 | ECON2272 | Intermediate Mathematics for Economists |
Level 3
Take unit(s) to the value of 18 points:
| Availability | Unit code | Unit name | unit requirements |
|---|---|---|---|
| S1 | ECON3205 | Health Economics |
|
| N/A | ECON3210 | Monetary Economics | |
| S1 | ECON3220 | Development Economics |
|
| S2 | ECON3235 | International Trade |
|
| S1 | ECON3236 | International Finance |
|
| S2 | ECON3301 | Game Theory and Strategic Thinking |
|
| S1 | ECON3302 | Applied Microeconomics |
|
| S2 | ECON3303 | Applied Macroeconomics |
|
| S1 | ECON3310 | History of Economic Ideas |
|
| S2 | ECON3350 | Money, Banking and Financial Markets | |
| S1 | ECON3371 | Applied Econometric Methods and Data Analysis |
|
| S2 | ECON3395 | Economic Policy |
|
Choosing your degree-specific 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.
The following example illustrates how the Economics degree-specific major can be included in the Bachelor of Commerce course.
There are more choices open to you. For more examples, search the study plans .
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.
Bachelor of Philosophy, Politics and Economics
This comprehensive degree does not require you to choose a degree-specific major.
Choosing a second major
You also have the option to choose a second major from those available in the Bachelor of Arts, Bachelor of Biomedical Science, Bachelor of Commerce, Bachelor of Design Only available to re-enrolling students. and Bachelor of Science courses, 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.
For more examples of combinations of majors, search the study plans .