Economics (major)

Economics is a diverse, fascinating discipline that studies a wide range of issues that shape the broad framework of society – political, social and commercial. The School of Economics has a proud history as one of the most highly ranked centres in economics. This is reflected in our degrees, which promote a deep understanding of the key concepts of economics with a focus on contemporary issues of Australian and international importance. Our graduates are leaders in their fields – at the Reserve Bank, Treasury and other government departments, in global financial institutions, and with international agencies and NGOs. They also go on to further study at some of the finest institutions in the world.

The objective of the major in Economics is to equip students for the diverse range of careers which value the key skills of the discipline - understanding economic and social phenomena, analyzing economic data, and exploring alternative choices in addressing key challenges. The major builds the training in economics incrementally. It addresses the essentials of the discipline early in the degree, which opens a wide range of choice at senior level. This allows students to shape concentrations in areas of interest – in macroeconomics, or in areas of applied economic policy.

Requirements for completion

Note that students who commenced the major prior to 2018 should consult the relevant Faculty Handbook for details of its requirements. Further information is also available here.

A major in Economics requires 48 credit points from the Unit of Study table including:

(i) 12 credit points of 1000-level units of study

  • ECON1001 Introductory Microeconomics
  • ECON1002 Introductory Macroeconomics

(ii) 12 credit points of 2000-level core units of study

  • ECOS2001 Intermediate Microeconomics / ECOS2901 Intermediate Microeconomics Honours
  • ECOS2002 Intermediate Macroeconomics / ECOS2902 Intermediate Macroeconomics Honours

(iii) Alternative units for core units of study may be taken from the 2000 level selective units, if the core units have already been completed for a different major (ECMT2150, ECOS2004, ECOS2025, ECOS2201, ECOS2903)

(iv) 24 credit points of 3000-level selective units of study; which includes
(v) 6 credit points of 3000-level Interdisciplinary Project unit

  • ECOS3002 Development Economics
  • ECOS3003 Hierarchies, Incentives and Firm Structure
  • ECOS3004 History of Economic Thought
  • ECOS3005 Industrial Organisation
  • ECOS3006 International Trade
  • ECOS3007 International Macroeconomics
  • ECOS3008 Labour Economics
  • ECOS3010 Monetary Economics
  • ECOS3011 Public Finance
  • ECOS3012 Strategic Behaviour
  • ECOS3013 Environmental Economics
  • ECOS3015 Law and Economics *
  • ECOS3016 Experimental and Behavioural Economics
  • ECOS3017 Health Economics
  • ECOS3018 Economics of Growth
  • ECOS3019 Capital and Growth *
  • ECOS3020 Special Topic in Economics
  • ECOS3021 Business Cycles and Asset Markets
  • ECOS3022 The Economics of Financial Markets
  • ECOS3023 Personnel Economics
  • ECOS3024 Economic History
  • ECOS3025 The Economics of Regulation
  • ECOS3026 Economics of Crime
  • ECOS3027 Economics of the Family
  • ECOS3901 Advanced Microeconomics Honours
  • ECOS3902 Advanced Macroeconomics Honours
  • ECOS3903 Applied Microeconometrics
  • ECOS3904 Applied Macroeconomics

* These units are not available in 2018.

A minor in Economics requires 36 credit points from the Unit of Study table including:

(i) 12 credit points of 1000-level core units

  • ECON1001 Introductory Microeconomics
  • ECON1002 Introductory Macroeconomics

(ii) 12 credit points of 2000-level core units

  • ECOS2001 Intermediate Microeconomics / ECOS2901 Intermediate Microeconomics Honours
  • ECOS2002 Intermediate Macroeconomics / ECOS2902 Intermediate Macroeconomics Honours

(iii) Alternative units for core units of study may be taken from the 2000-level selective units, if the core units have already been completed for a different major (ECMT2150, ECOS2004, ECOS2025, ECOS2201, ECOS2903)

(iv) 12 credit points of 3000-level selective units

  • ECOS3002 Development Economics
  • ECOS3003 Hierarchies, Incentives and Firm Structure
  • ECOS3004 History of Economic Thought
  • ECOS3005 Industrial Organisation
  • ECOS3006 International Trade
  • ECOS3007 International Macroeconomics
  • ECOS3008 Labour Economics
  • ECOS3010 Monetary Economics
  • ECOS3011 Public Finance
  • ECOS3012 Strategic Behaviour
  • ECOS3013 Environmental Economics
  • ECOS3015 Law and Economics *
  • ECOS3016 Experimental and Behavioural Economics
  • ECOS3017 Health Economics
  • ECOS3018 Economics of Growth
  • ECOS3019 Capital and Growth *
  • ECOS3020 Special Topic in Economics
  • ECOS3021 Business Cycles and Asset Markets
  • ECOS3022 The Economics of Financial Markets
  • ECOS3023 Personnel Economics
  • ECOS3024 Economic History
  • ECOS3025 The Economics of Regulation
  • ECOS3026 Economics of Crime
  • ECOS3027 Economics of the Family
  • ECOS3901 Advanced Microeconomics Honours
  • ECOS3902 Advanced Macroeconomics Honours
  • ECOS3903 Applied Microeconometrics
  • ECOS3904 Applied Macroeconomics

* These units are not available in 2018.

For more details, please refer to the Handbook’s Undergraduate Units of Study Table for the Economics Major.

Please check Table A for details of the unit prerequisites, corequisites and other requirements.

Students interested in undertaking a 4th year Honours program in Economics should consult the information on the Honours page of the website for specific 2nd and 3rd year Honours pathway information.

Economics major for students who commenced prior to 2018

For the award of a major in Economics students complete:

(i) four junior prerequisite units of study (24 credit points), as follows:

  • ECMT1010 Introduction to Economic Statistics (or BUSS1020 Quantitative Business Analysis#)
  • ECMT1020 Introduction to Econometrics
  • ECON1001 Introductory Microeconomics
  • ECON1002 Introductory Macroeconomics

(ii) two compulsory senior units of study (12 credit points), as follows:

  • ECOS2001 Intermediate Microeconomics / ECOS2901 Intermediate Microeconomics Honours
  • ECOS2002 Intermediate Macroeconomics / ECOS2902 Intermediate Macroeconomics Honours##

(iii) a minimum of four senior elective units of study (24 credit points) selected from the following options, with at least three at 3000-level (18 credit points):

  • ECOS2004 Money and Banking
  • ECOS2025 East Asian Economies
  • ECOS2201 Economics of Competition and Strategy
  • ECOS2903 Mathematical Economics A
  • ECOS3002 Development Economics
  • ECOS3003 Hierarchies, Incentives and Firm Structure
  • ECOS3004 History of Economic Thought
  • ECOS3005 Industrial Organisation
  • ECOS3006 International Trade
  • ECOS3007 International Macroeconomics
  • ECOS3008 Labour Economics
  • ECOS3010 Monetary Economics
  • ECOS3011 Public Finance
  • ECOS3012 Strategic Behaviour
  • ECOS3013 Environmental Economics
  • ECOS3015 Law and Economics *
  • ECOS3016 Experimental and Behavioural Economics
  • ECOS3017 Health Economics
  • ECOS3018 Economics of Growth
  • ECOS3019 Capital and Growth *
  • ECOS3020 Special Topic in Economics
  • ECOS3021 Business Cycles and Asset Markets
  • ECOS3022 The Economics of Financial Markets
  • ECOS3023 Personnel Economics
  • ECOS3024 Economic History
  • ECOS3025 The Economics of Regulation
  • ECOS3026 Economics of Crime
  • ECOS3027 Economics of the Family
  • ECOS3901 Advanced Microeconomics Honours
  • ECOS3902 Advanced Macroeconomics Honours
  • ECOS3903 Applied Microeconometrics
  • ECOS3904 Applied Macroeconomics

* These units are not available in 2018.

# BUSS1020 is a core unit for the Bachelor of Commerce and related degrees and substitutes for the junior prerequisite unit ECMT1010 for students enrolled in those courses.

Any senior unit can only be counted toward one major (be it the Economics, Econometrics, Financial Economics, Agricultural Economics or Environmental and Resource Economics major).

## Where students are completing both an Economics and a Financial Economics major, an additional senior elective (ECOS2000 or ECOS3000 level) should be completed for one of the majors, as Economics and Financial Economics both require the compulsory unit ECOS2002/ECOS2902. Both majors must include 36 senior credit points without counting a senior unit ie ECOS2002 towards two separate majors.

Please note, ECOS3901, ECOS3902, ECOS3903 and ECOS3904 require the completion of additional prerequisites/corequisites outside of those prerequisite units of study listed for this major.