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
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 3 complementary units
| Key to availability of units: |
|---|
| S1 = Semester 1; S2 = Semester 2; SS = summer teaching period; N/A = not available in 2020 |
Note: Units that are indicated as N/A may be available in 2021 or 2022.
Bachelor of Commerce students completing a second major in Engineering Science are not required to complete STAT1520 (as MATH1011 and MATH1022 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.
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 |
Take all complementary units (24 points):
| Availability | Unit code | Unit name | unit requirements |
|---|---|---|---|
| S1, S2, SS | ACCT1101 | Financial Accounting |
|
| S1, S2 | MGMT1135 | Organisational Behaviour |
|
| S1, S2, SS | MKTG1203 | Introduction to Marketing |
|
| S1, S2 | STAT1520 | Economic and Business Statistics |
Level 2
Take all units (12 points):
| Availability | Unit code | Unit name | unit requirements |
|---|---|---|---|
| S1, SS | 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, SS | ECON2271 | Business Econometrics |
|
Level 3
Take unit(s) to the value of 18 points:
| Availability | Unit code | Unit name | unit requirements |
|---|---|---|---|
| S2 | ECON3205 | Health Economics |
|
| N/A | ECON3210 | Monetary Economics | |
| S1 | ECON3220 | Development Economics |
|
| S1 | ECON3235 | International Trade |
|
| S1 | ECON3236 | International Finance |
|
| S2 | ECON3272 | Intermediate Mathematics for Economists | |
| S1 | ECON3301 | Game Theory and Strategic Thinking |
|
| S1 | ECON3302 | Applied Microeconomics |
|
| S2 | ECON3303 | Applied Macroeconomics |
|
| S1 | ECON3310 | History of Economic Ideas |
|
| S1 | ECON3350 | Money, Banking and Financial Markets | |
| S2 | ECON3371 | Econometrics | |
| S2 | ECON3395 | Economic Policy |
|
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.
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 Biomedical Science, Bachelor of Commerce, Bachelor of Design Only available to re-enrolling students. 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.
For more examples of combinations of majors, search the study plans .
Economics can also be taken as a second major.
Second major
Economics can be taken as a second major in the following degree courses:
- BP001 Bachelor of Arts
- BP006 Bachelor of Biomedical Science
- BP002 Bachelor of Commerce
- BP003 Bachelor of Design Only available to re-enrolling students.
- 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 2020 |
Note: Units that are indicated as N/A may be available in 2021 or 2022.
Bachelor of Commerce students completing a second major in Engineering Science are not required to complete STAT1520 (as MATH1011 and MATH1022 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.
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 |
Level 2
Take all units (12 points):
| Availability | Unit code | Unit name | unit requirements |
|---|---|---|---|
| S1, SS | 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, SS | ECON2271 | Business Econometrics |
|
Level 3
Take unit(s) to the value of 18 points:
| Availability | Unit code | Unit name | unit requirements |
|---|---|---|---|
| S2 | ECON3205 | Health Economics |
|
| N/A | ECON3210 | Monetary Economics | |
| S1 | ECON3220 | Development Economics |
|
| S1 | ECON3235 | International Trade |
|
| S1 | ECON3236 | International Finance |
|
| S2 | ECON3272 | Intermediate Mathematics for Economists | |
| S1 | ECON3301 | Game Theory and Strategic Thinking |
|
| S1 | ECON3302 | Applied Microeconomics |
|
| S2 | ECON3303 | Applied Macroeconomics |
|
| S1 | ECON3310 | History of Economic Ideas |
|
| S1 | ECON3350 | Money, Banking and Financial Markets | |
| S2 | ECON3371 | Econometrics | |
| S2 | ECON3395 | Economic Policy |
|
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.
For more examples of combinations of majors, search the study plans .
Economics can also be taken as a degree-specific major.