Major Overview

Description

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.

Courses

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

No study plans found for this major. See study plans for more information.

Units

Key to availability of units:
S1
Semester 1
S2
Semester 2
N/A
not available in 2023 – may be available in 2024 or 2025

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

Degree-specific major units

Take all units (12 points):

Availability Unit code Unit name unit requirements
S1, S2 ECON1101 Microeconomics: Prices and Markets
Incompatibility
ECON1000 Economics for Business
S1, S2 ECON1102 Macroeconomics: Money and Finance None
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 (12 points):

Availability Unit code Unit name unit requirements
S1 ECON2233 Microeconomics: Policy and Applications
Prerequisites
ECON1101 Microeconomics: Prices and Markets
S2 ECON2234 Macroeconomics: Policy and Applications
Prerequisites
ECON1102 Macroeconomics: Money and Finance
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
Successful completion of
ECON1000 Economics for Business
or ECON1101 Microeconomics: Prices and Markets
S1 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)

Level 3

Degree-specific major units

Take unit(s) to the value of 18 points:

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

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

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 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)
S1 ECON3371 Applied Econometric Methods and Data Analysis
Prerequisites
ECON2271 Introductory Econometrics
S2 ECON3395 Economic Policy
Prerequisites
ECON2233 Microeconomics: Policy and Applications