Economics

Economics

ECON1001 Introductory Microeconomics

Credit points: 6 Session: Semester 1,Semester 2,Summer Main Classes: 1x2-hr lecture/week, 1x1-hr tutorial/week Assessment: online quizzes (10%), 1x mid-semester test (30%), 1x essay (10%) and 1x2hr final exam (50%)
Introductory Microeconomics addresses the economic decisions of individual firms and households and how these interact in markets. It is a compulsory core unit for the Bachelor of Economics and an alternative core unit for the Bachelor of Economic and Social Science. Economic issues are pervasive in contemporary Australian society. Introductory Microeconomics introduces students to the language and analytical framework adopted in Economics for the examination of social phenomena and public policy issues. Whatever one's career intentions, coming to grips with economic ideas is essential for understanding society, business and government. Students are given a comprehensive introduction to these ideas and are prepared for the advanced study of microeconomics in subsequent years. It is assumed that students undertaking this unit will have a prior knowledge of mathematics.
ECON1002 Introductory Macroeconomics

Credit points: 6 Session: Semester 1,Semester 2,Summer Main Classes: 1x2-hr lecture/week, 1x1-hr tutorial/week Assessment: tutorial participation (5%), 5x online quizzes (10%), mid-semester test (25%), essay (10%) and 2hr final exam (50%)
Introductory Macroeconomics addresses the analysis of the level of employment and economic activity in the economy as a whole. It is a compulsory core unit for the Bachelor of Economics and an alternative core unit for the Bachelor of Economic and Social Sciences. Introductory Macroeconomics examines the main factors that determine the overall levels of production and employment in the economy, including the influence of government policy and international trade. This analysis enables an exploration of money, interest rates and financial markets, and a deeper examination of inflation, unemployment and economic policy. It is assumed that students undertaking this unit will have a prior knowledge of mathematics.
ECON1003 Quantitative Methods in Economics

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/week Assessment: in-class tests (25%), mid-semester test (25%) and 2hr final exam (50%)
This unit of study provides an introduction to the quantitative methods used in economics and business. Emphasis is placed on developing the skills to set up models to study real-world phenomena, using appropriate techniques to manipulate and analyse these models and their economic interpretation. In this unit particular emphasis will be placed on the intuition of the models studied, making extensive use of a range of economic examples and business applications. It is important to note that while mathematical techniques are used in this unit, this unit is not intended as a substitute for mathematics units offered by the School of Mathematics and Statistics. Students wishing to pursue further study in mathematics, such as a major in mathematics, should consult the Faculty of Science Handbook for offerings by the School of Mathematics and Statistics. Note this unit is not available to students from the Faculty of Science.
ECON1005 The Australian Economy

Credit points: 6 Session: Semester 2 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/week Assessment: oral presentation equivalent to 500wds (10%), 500wd short written assignment (10%), 1000wd essay (20%), mid-semester test (20%), 1.5-hr final exam (40%)
This unit explores the Australian economy and introduces students to the application of economic reasoning and techniques to real-world problems. A focus of the unit is how government policy is affected by the influences brought to bear by the both domestic issues and the international environment. Each issue is addressed within an economic framework. The methods of instruction, learning and assessment are designed to develop a range of graduate attributes, with an emphasis on developing communication skills and creative thinking.
ECOS1551 Economics Exchange

Credit points: 6 Session: Semester 1,Semester 2
Note: Department permission required for enrolment
ECOS2001 Intermediate Microeconomics

Credit points: 6 Session: Semester 1,Semester 2,Summer Main Classes: 1x2-hr lecture/week, 1x1-hr tutorial/week Prerequisites: ECON1001 or BUSS1040 Corequisites: ECMT1010 or BUSS1020 or MATH1905 or MATH1005 or MATH1015 Prohibitions: ECON2001, ECOS2901, ECON2901 Assessment: tutorial participation (10%), 2x in-class tests (40%) and 2hr final exam (50%)
Note: Certain combinations of Maths/Stats may substitute for Econometrics. Consult the School of Economics Undergraduate Coordinator.
The aim of Intermediate Microeconomics is the development of theoretical and applied skills in economics. It covers applications and extensions of the theory of consumer choice, firm behaviour and market structure. Emphasis is given to the economics of information and choice under uncertainty; industry structures other than monopoly and perfect competition; markets for factors of production; general equilibrium and economic efficiency; market failure and the role of government. This unit provides a basis for the more specialised options that comprise third year economics.
ECOS2002 Intermediate Macroeconomics

Credit points: 6 Session: Semester 1,Semester 2,Summer Main Classes: 1x2-hr lecture/week, 1x1-hr tutorial/week Prerequisites: ECON1002 Corequisites: ECMT1020 Prohibitions: ECON2002, ECOS2902, ECON2902 Assessment: mid-semester test (30%), assignments (20%) and 2hr final exam (50%)
Note: Certain combinations of Maths/Stats may substitute for Econometrics. Consult the School of Economics Undergraduate Coordinator.
This unit of study develops models of the goods, money and labour markets, and examines issues in macroeconomic policy. Macroeconomic relationships, covering consumption, investment, money and employment, are explored in detail. Macro-dynamic relationships, especially those linking inflation and unemployment, are also considered. Exchange rates and open economy macroeconomics are also addressed. In the last part of the unit, topics include the determinants and theories of economic growth, productivity and technology, the dynamics of the business cycle, counter-cyclical policy and the relationship between micro and macro policy in the context of recent Australian experience.
ECOS2201 Economics of Competition and Strategy

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week and 1x1-hr tutorial/week Prerequisites: ECON1001 or BUSS1040 Prohibitions: ECON2201, ECOS3005 Assessment: 2x mid-semester tests (40%) and 2hr final exam (60%)
This unit introduces new and comprehensive methods for the analysis and formation of business strategy. The unit analyses strategies for developing competitive advantages, including product differentiation, cost advantages and product life cycles; implementing incentives, control, firm boundaries, and internal firm decision-making mechanisms; implementing pricing, auction and signalling practices; assessing industry attractiveness and the regulatory/trade practices environment; and managing industry cooperation and conflict. Students are taught a set of tools that they can bring to bear on new problems. Understanding competitive dynamics and strategic thinking are emphasised. Case studies and problem-solving form an important part of the teaching method.
ECOS2551 Economics Exchange

Credit points: 6 Session: Semester 1,Semester 2
Note: Department permission required for enrolment
ECOS2552 Economics Exchange

Credit points: 6 Session: Semester 1,Semester 2
Note: Department permission required for enrolment
ECOS2901 Intermediate Microeconomics Honours

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/week Prerequisites: (ECON1001 or BUSS1040) and ECON1002 with a Credit average or better in the two units of study combined Corequisites: ECOS2903 or MATH2070 and (ECMT1010 or BUSS1020 or MATH1905 or MATH1005 or MATH1015) Prohibitions: ECON2901, ECOS2001, ECON2001 Assessment: 2x mid-semester tests (50%) and 2.5hr final exam (50%)
Note: Department permission required for enrolment
This unit is comprised of lectures based upon the curriculum for ECOS2001 Intermediate Microeconomics, supported by a seminar for one hour a week. The content of lectures reflect a more analytical and critical treatment of the topics than ECOS2001. The topics, which build on the theory of consumer and firm behaviour and market structure, include game theory, oligopoly, general equilibrium and welfare, externalities and public goods and the economics of information.
ECOS2902 Intermediate Macroeconomics Honours

Credit points: 6 Session: Semester 2 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/week Prerequisites: (ECON1001 or BUSS1040) and ECON1002 with a Credit average or better in the two units of study combined Corequisites: ECMT1020 Prohibitions: ECON2902, ECOS2002, ECON2002 Assessment: essay (20%), mid-semester test (30%) and 2hr final exam (50%)
Note: Department permission required for enrolment
This unit is comprised of lectures based upon the curriculum for ECOS2002 Intermediate Macroeconomics, supported by a seminar for one hour a week. The content of lectures reflects a more intensive treatment of the topics than ECOS2002. Topics covered include: models of the goods, money and labour markets; macro-economic relationships such as consumption, investment, demand for money and labour demand and supply; macro-dynamic relationships, especially those linking inflation and unemployment; exchange rates and open economy macroeconomics; theories of economic growth; productivity and technological change; the dynamics of the business cycle; and the relationship between micro- and macro-economic policy.
ECOS2903 Mathematical Economics A

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/week Corequisites: ECOS2901 Prohibitions: ECON2903 Assessment: problem sets/quizzes (30%), mid-semester test (20%) and 2hr final exam (50%)
Note: Department permission required for enrolment
Note: Students intending to proceed to the third year economics honours program must take this unit or MATH2070
This unit provides an introduction to mathematical techniques commonly employed by economists. Students who wish to proceed to final year Economics Honours must complete either ECOS2903 or MATH2070. Topics include: limits, continuity, differentiation of single- and multi-variable functions, unconstrained and constrained optimisation.
ECOS3002 Development Economics

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: One of (ECOS2001 or ECON2001) or (ECOS2002 or ECON2002) or (ECOS2901 or ECON2901) or (ECOS2902 or ECON2902) Prohibitions: ECON3002 Assessment: 2x in-class tests (30%) and 2.5hr final exam (70%)
This unit examines the role of the state, rationale for planning and market mechanisms in developing economies, and also the sociocultural preconditions and economic requirements for a market economy. It focuses on a wide range of developmental problems and issues from both microeconomic and macroeconomic points of view. It closely studies the integration process of the traditional segment of a developing society into its modern counterpart in countries selected from Asia, Africa, Latin America, the Caribbean, and the Pacific regions.
ECOS3003 Hierarchies, Incentives & Firm Structure

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: (ECOS2001 or ECON2001) or (ECOS2901 or ECON2901) Prohibitions: ECON3003, ECOS2306 Assessment: group assignment (25%), mid-semester test (20%) and 2hr final exam (55%)
This unit deals with the coordination and motivation problems faced by firms. More specifically this unit examines: whether firms use price or command mechanisms to allocate resources within firms; the problems associated with designing incentive contracts; the principles of efficient contract design and; the real world applications of those principles. The final section deals with the manner in which the coordination and motivation problems faced by firms determines their financial, vertical and horizontal structure.
ECOS3004 History of Economic Thought

Credit points: 6 Session: Semester 2 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: 1 of (ECOS2001 or ECON2001) or (ECOS2901 or ECON2901) or (ECOS2002 or ECON2002) or (ECOS2902 or ECON2902) or (ECOP2011 or ECOP2001) or (ECOP2012 or ECOP2002) Prohibitions: ECON3004 Assessment: essay (20%), mid-semester test (30%) and 70min final exam (50%)
Where do the current beliefs - theories, doctrines, postulates and attitudes - of modern economics come from? If current theories and doctrines have a definite historical beginning, what schools of thought did they supplant? Are there alternative or dissident views which subsisted alongside mainstream economics in the twentieth century - and if so, what are they and where did they originate from? This unit seeks to answer these questions, as well as others. It provides an overview of the development of economic ideas from the seventeenth to the twentieth century, combined with a more intensive focus on the thought of certain key figures in that history. The particular topics covered include: the formation of economics to 1776; Adam Smith; classical economics from Smith to J.S. Mill; the rise of marginalist economics; John Maynard Keynes; and orthodox and heterodox currents in twentieth century economics.
ECOS3005 Industrial Organisation

Credit points: 6 Session: Semester 2 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: ECOS2001 or ECON2001 or ECOS2901 or ECON2901 Prohibitions: ECON3005, ECOS2201 Assessment: mid-semester test (35%), problem sets (5%) and 2hr final exam (60%)
This unit of study examines the nature of inter-firm rivalry in industries with market power. It explores the various ways in which firms can increase their market power by: extracting more surplus from consumers, by colluding with rivals or by excluding entrants. The unit also analyses the international competitiveness of industries in the context of industry assistance and the prevalence of foreign multinationals. Competition policy is also discussed.
ECOS3006 International Trade

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: (ECOS2001 or ECON2001) or (ECOS2901 or ECON2901) Prohibitions: ECON3006 Assessment: problem sets (5%), mid-semester test (35%) and 2hr final exam (60%)
This unit of study provides a systematic analysis of the theory of international trade and trade policy. Initially differences between countries are emphasised as the source of trade and the gains from trade. Models that are examined include the Classical-Ricardian model, the Heckscher-Ohlin model and the Specific-Factors model. Next economics of scale and imperfect competition are introduced as sources of trade and gains from trade. The unit concludes with an examination of empirical studies aimed at testing trade theories. The analysis of trade policy begins with a discussion of the instruments of trade policy, in particular, tariffs and quotas and their effect on welfare. This discussion is then extended to the case of imperfect competition and strategic trade policy.
ECOS3007 International Macroeconomics

Credit points: 6 Session: Semester 1,Summer Main Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: ECOS2002 or ECON2002 or ECOS2902 or ECON2902 Prohibitions: ECON3007 Assessment: assignments (20%) and mid-semester test (20%) and 1x2hr final exam (60%)
This unit studies macroeconomic theory and policy in a global trading world. The microfoundations of the various sectors are examined in the context of an open economy. The evolution of international money and capital markets is described, the operation of the foreign exchange market is examined, showing how its microstructure affects its macro performance. Theories and tests of the efficiency of international capital markets are surveyed, as well as core theories and tests of exchange rate and asset price determination. The unit develops the macroeconomic implications of monetary and fiscal policies for small and large open economies for different regimes.
ECOS3008 Labour Economics

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: One of (ECOS2001 or ECON2001 or ECOS2901 or ECON2901 or ECOP2011 or ECOP2001) and one of (ECOS2002 or ECON2002 or ECOS2902 or ECON2902 or ECOP2012 or ECOP2002) Prohibitions: ECON3008 Assessment: essay (25%), mid-semester test (25%) and 2hr final exam (50%)
This unit aims to provide an understanding of labour markets and related issues such as work conditions, pay and employment levels. Labour supply and demand, theories of wage determination, labour mobility and discrimination are examined. It also analyses the role of trade unions and labour market contracts. These topics are applied to current issues in Australian labour markets such as enterprise bargaining, the role of centralised wage fixing systems, training and other labour market programs. Policies designed to improve the functioning of the labour market are examined and particular attention is given to the problem of persistent unemployment.
ECOS3010 Monetary Economics

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: ECOS2001 or ECON2001 or ECOS2901 or ECON2901 or ECOS2002 or ECON2002 or ECOS2902 or ECON2902 Prohibitions: ECON3010 Assessment: multiple choice test (30%) and written paper (20%) and 70min final exam (50%)
This unit provides an overview of the main elements of monetary economics, with emphasis upon macroeconomic issues - analysis of economic processes in which money enters the picture in an essential manner. The content primarily concerns economic principles and theory, but there is also considerable focus on the Australian monetary system and monetary policy in particular. The particular topics covered include: functions of money; the concept of 'liquidity'; money demand; determinants of money supply changes; financial crises and the 'lender of last resort' function of central banking; the Reserve Bank of Australia and the Australian Prudential Regulation Authority; term and risk structures of interest rates; alternative theories of the level of the rate of interest; the monetary policy transmission mechanism; monetary policy instrument choice; central bank credibility; policy reaction functions; the global monetary system; and Reserve Bank market operations.
ECOS3011 Public Finance

Credit points: 6 Session: Semester 2 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: Either (ECOS2001 or ECON2001) or (ECOS2901 or ECON2901) Prohibitions: ECON3011 Assessment: mid-semester test (20%), assignment (30%) and 3hr final exam (50%)
Public Finance is about the taxing and spending decisions of governments. The unit covers a wide range of public finance topics. After an introduction to welfare economics and the role of government in the economy, the unit focuses on the revenue side of the budget: tax incidence, efficient and equitable taxation, the Australian system of revenue raising, issues of tax reform and the theory and practice of public utility pricing. It then focuses on the expenditure side of the government budget: public goods, externalities, and programs aimed at redistribution. It also introduces techniques of policy evaluation.
ECOS3012 Strategic Behaviour

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: ECOS2001 or ECON2001 or ECOS2901 or ECON2901 Prohibitions: ECON3012, ECOS3901 Assessment: mid-semester test (35%), online quizzes (20%) and 2hr final exam (45%)
To think and act strategically, one needs to evaluate the effect of one's actions on the actions of others. As most economic decisions are strategic, such as the decision to lower a price or introduce a new tax, economics, if it is to avoid simplistic models, requires a theoretical framework capable of illuminating strategic behaviour. This unit offers a comprehensive, critical introduction to the theory which purports, not only to satisfy this theoretical need, but also potentially to unify the social sciences: game theory. After examining important concepts of game theory, the unit investigates the repercussions for the theory of bargaining and for the evolution of social institutions.
ECOS3015 Law and Economics

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial fortnight Prerequisites: Either (ECOS2001 or ECON2001) OR (ECOS2901 or ECON2901) Prohibitions: ECON3015 Assessment: assignments (20%), mid-semester test (30%) and 2hr final exam (50%)
Law and economics examines the economic role of law and legal institutions on the actions of economic agents. The economic analysis of law is founded on models of human behaviour and examines how decision making is affected by different legal regimes. The behavioral approach gives rise to a set of principles that can be applied widely across disparate areas of the law, and is becoming increasingly important world-wide, as such analysis is often utilized in courts and public policy forums. The unit begins with a revision of relevant tools of economic analysis. Subsequently, it studies the economics of various branches of law such as: property; contract; nuisance; accident and liability law; and, criminal law
ECOS3016 Experimental and Behavioural Economics

Credit points: 6 Session: Semester 2 Classes: 1x2hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: (ECOS2001 or ECON2001) OR (ECOS2901 or ECON2901) Assessment: 2x take home assignments (50%) and 2hr final exam (50%)
Experimental economics uses experimental methods to evaluate the performance of economic models, institutions and policies. Behavioural economics combines experimental and field evidence with insights from neighbouring disciplines such as psychology, to develop richer economic models of decision-making. This unit will develop the key research methods and major findings of each of these fields, and explore both theoretical and practical implications. Students will read a number of seminal research papers in both experimental and behavioural economics, and will have opportunities to participate in classroom experiments, to analyse experimental data, and to design and program their own research projects.
ECOS3017 Health Economics

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: ECOS2001 or ECON2001 or ECOS2901 or ECON2901 Assessment: 2x in-class tests (30%) and 2hr final exam (70%)
The purpose of this unit is to introduce the student to the methods of health economics and demonstrate how these methods can be applied to analyse issues in health policy and management. This unit will teach the student to use economic analysis to understand critical issues in health care and health policy. Topics covered include the institutions of the Australian system of health care and health statistics, evaluation techniques, production of health, demand for health care and technology, moral hazard and adverse selection in health insurance markets, health labour markets, including physician-patient interactions, managed care, regulation and payment systems for providers, comparative health systems, the pharmaceutical industry, health policy and social insurance.
ECOS3019 Capital and Dynamics

Credit points: 6 Session: Semester 1 Classes: 1x2 hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: (ECOS2001 or ECON2001 or ECOS2901 or ECON2901) and (ECOS2002 or ECON2002 or ECOS2902 or ECON2902) Prohibitions: ECOS3001 Assessment: 2x in-class tests (40%) and 2hr final exam (60%)
Fundamental to the theory of value, income distribution and output is a coherent treatment of the concept of capital. The definition and measurement of 'capital' is essential to the explanation of relative prices, and hence integral to any explanation of distributive shares in national income. It is also indispensable to a proper understanding of debates over the theory of output. The aim of the unit is to provide a comprehensive account of the different approaches to capital theory (e.g. in traditional aggregative neoclassical theory, general equilibrium theory and classical/Sraffian inspired models) and to highlight their significance for different views about value, distribution and output. This account necessarily involves some focus on the intersection of capital theory and the theory of dynamics as it applies to multi-sectoral/multi-commodity models, including growth theory, the dynamics of inter-industry competition, the analysis of technological progress and the intertemporal dynamics of production in the context of exhaustible natural resources.
ECOS3020 Special Topic in Economics

Credit points: 6 Session: Semester 1,Semester 2 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: (ECOS2001 or ECON2001) and (ECOS2002 or ECON2002) OR (ECOS2901 or ECON2901) and (ECOS2902 or ECON2902) Assessment: assessment dependent on topic
Note: Department permission required for enrolment
Note: Students must seek written permission from the School of Economics Undergraduate Coordinator to enrol in this unit.
Study of a special topic in Economics. Topics will vary from semester to semester according to staff availablity and the presence of visitors. If taught in both semesters, the topic in Semester 2 will be different to that of Semester 1.
ECOS3021 Business Cycles and Asset Markets

Credit points: 6 Session: Semester 2 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: ECOS2002 or ECON2002 or ECOS2902 or ECON2902 Assessment: class participation (5%), mid-semester test (20%), project report (25%) and 2hr final exam (50%)
The unit of study provides theoretical and empirical training in analysing macroeconomic fluctuations and the interactions between the real economy and asset markets. The unit of study will introduce theoretical models of the business cycle to identify sources of economic fluctuations. It then provides a theoretical framework in which the asset market-the real economy can be analysed. In addition to theoretical analysis, the unit will develop empirical tools for analysing economic and financial indicators as well as evaluating the performance of theoretical models. The role of government policy will also be discussed by taking both Australian and global episodes.
ECOS3022 The Economics of Financial Markets

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: (ECOS2001 or ECON2001 or ECOS2901 or ECON2901) and (ECOS2002 or ECON2002 or ECOS2902 or ECON2902) Assessment: problem sets (20%), mid-semester test (25%) and 2hr final exam (55%)
Financial assets play a vital role coordinating the actions of savers and investors; consequently, they play a crucial role in creating wealth and facilitating economic activity. The aim of this unit is to explore the economic principles underlying: the pricing and development of financial assets; the trade-off between risk and return and the how investors construct portfolios in response to this trade-off. The focus is on the economics of financial markets: the factors of demand and supply; risk and uncertainty; incomplete contracts and renegotiation; and asymmetric information and its implications. We will emphasize the key aspects of markets for financial assets and the main differences to markets for consumption goods. The unit also examines the development of financial institutions and current issues in financial markets.
ECOS3023 Personnel Economics

Credit points: 6 Session: Semester 2 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: ECOS2001 or ECOS2901 Assessment: mid-semester test (25%), assignment (25%) and 2hr final exam (50%)
Personnel economics deals with the analysis of human resource issues within organisations. Throughout the unit of study, students will be introduced to economic concepts and analytical tools that provide a rigorous framework with which to analyse these relationships. Topics covered include recruitment and hiring decisions; turnover of staff; remuneration and motivation schemes designed to enhance productivity; and, the analysis of team production within the modern business organisation. Empirical studies that test theoretical predictions will also be considered throughout the unit.
ECOS3551 Economics Exchange

Credit points: 6 Session: Semester 1,Semester 2 Prerequisites: ECON1001 and ECON1002
Note: Department permission required for enrolment
Students wishing to undertake a Study Abroad program must enrol in this unit to receive credit for a unit equivalent to an ECON2000-level subject
ECOS3552 Economics Exchange

Credit points: 6 Session: Semester 1,Semester 2 Prerequisites: ECON1001 and ECON1002
Note: Department permission required for enrolment
Students wishing to undertake a Study Abroad program must enrol in this unit to receive credit for a unit equivalent to an ECON2000-level subject
ECOS3553 Economics Exchange

Credit points: 6 Session: Semester 1,Semester 2 Prerequisites: ECON1001 and ECON1002
Note: Department permission required for enrolment
ECOS3554 Economics Exchange

Credit points: 6 Session: Semester 1,Semester 2 Prerequisites: ECON1001 and ECON1002
Note: Department permission required for enrolment
ECOS3901 Advanced Microeconomics Honours

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: (ECOS2901 or ECON2901) and (ECOS2902 or ECON2902) and (ECOS2903 or ECON2903 or MATH2070) with a 70% average or better over the three units combined Corequisites: ECMT2110 or ECMT2010 Prohibitions: ECON3901, ECOS3012 Assessment: mid-semester test (30%), problem sets (10%) and 2.5hr final exam (60%)
Note: Department permission required for enrolment
Note: Students intending to proceed to fourth year economics honours must also complete at least one unit of study from (ECOS3001 or ECON3001) to (ECOS3023) inclusive, in either semester of their third year
ECOS3901 Advanced Microeconomics is the second unit of study in the microeconomics sequence in the Economics Honours program. The goal of the unit is to provide a working knowledge and understanding of the most powerful methods of analysis and discourse in modern microeconomic theory. We build on the foundations of ECOS2901 and ECOS2903 to continue progress toward the frontier of microeconomics.
ECOS3902 Advanced Macroeconomics Honours

Credit points: 6 Session: Semester 2 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: (ECOS2901 or ECON2901), (ECOS2902 or ECON2902), (ECOS2903 or ECON2903 or MATH2070) and (ECOS3901 or ECON3901) Corequisites: ECOS3903 or (ECMT3110 and (ECMT2120 or ECMT3120 or ECMT3130 or ECMT3160 or ECMT3170)) Prohibitions: ECON3902 Assessment: mid-semester test (30%), take home assignments (10%) and 2hr final exam (60%)
Note: Department permission required for enrolment
Note: Students intending to proceed to fourth year economics honours must also complete at least one unit of study from (ECOS3001 or ECON3001) to (ECOS3023) inclusive, in either semester of their third year
ECOS3902 Advanced Macroeconomics is a third year honours unit of study in macroeconomics. Its main objective is to develop a framework for thinking about macroeconomic questions. This unit is designed for the students enrolled in the Economics Honours stream. ECOS2901, ECOS2902, ECOS2903 and ECOS3901 are prerequisites and the corequisite is ECOS3903,or ECMT3110 plus one of ECMT2120, ECMT3120, ECMT3130, ECMT3160 or ECMT3170.
ECOS3903 Applied Microeconomics Honours

Credit points: 6 Session: Semester 1 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: (ECOS2901 or ECON2901) and (ECOS2902 or ECON2902), and (ECOS2903 or ECON2903) and (ECMT2110 or ECMT2150) Assessment: assignments (10%), referee report (15%), mid-semester test (25%) and 2hr final examination (50%)
Note: Department permission required for enrolment
Note: Students intending to proceed to fourth year economics honours must take this unit or (ECMT3110 plus one of ECMT2120, ECMT3120, ECMT3130, ECMT3160 or ECMT3170).
This unit is designed to provide students with estimation techniques frequently used in applied microeconomics. It will mainly cover cross section and panel data methods. Various empirical topics in labour economics, international trade, etc., will be discussed.
ECOS3904 Applied Macroeconomics Honours

Credit points: 6 Session: Semester 2 Classes: 1x2-hr lecture/week, 1x1-hr tutorial/fortnight Prerequisites: ECOS2901 and ECOS2902 and ECON2903 and (ECMT2160 or ECMT2110) Assessment: 1x1hr mid-semester test (20%), computer assignments (30%) and 1x2hr final exam (50%)
Note: Department permission required for enrolment
This unit provides an introduction to econometric methods that are useful for understanding applied macroeconomic and financial economic models and research. It also aims to provide students with the necessary analytical tools for undertaking applied research using time series data. It discusses how time series techniques can be applied to other areas of economics such as international trade, energy economics, economics of terrorism, etc. This unit of study can be both complementary to or a substitute for Applied Microeconomics Honours.
ECON4101 Economics Honours A

Credit points: 12 Session: Semester 1,Semester 2 Classes: 6-hrs/week Prerequisites: The prerequisite for entry to Economics Honours is at least 24 credit points at 3000 level Economics, including Advanced Microeconomics Honours: (ECOS3901 or ECON3901), Advanced Macroeconomics Honours: (ECOS3902 or ECON3902) and Applied Microeconomics Honours (ECOS3903) with a 70% or better in ECOS3901, ECOS3902 and ECOS3903; and Regression Modelling (ECMT2110 or ECMT2010) and Mathematical Economics A (ECOS2903 or ECON2903). Assessment: 1x15000wd (max.) thesis (30%) and 5x4500wd of written work, or its equivalent (70%)
Note: Department permission required for enrolment
Note: Requirements for the Pass degree must be completed before entry to 4000 level honours units of study.
The Honours program in Economics consists of: 1. a thesis written under the supervision of one, or more, members of academic staff 2. five semester-length coursework options that each meet once a week for two hours. Students would usually take three coursework options in their first semester, and two in their second semester. Each coursework option requires 4000wd of written work or its equivalent, including mid-semester test, final exam and other assessments 3. a (non assessed) thesis seminar, which meets every two weeks in both semesters.
ECON4102 Economics Honours B

Credit points: 12 Session: Semester 1,Semester 2 Corequisites: ECON4101
Refer to ECON4101
ECON4103 Economics Honours C

Credit points: 12 Session: Semester 1,Semester 2 Corequisites: ECON4102
Refer to ECON4101
ECON4104 Economics Honours D

Credit points: 12 Session: Semester 1,Semester 2 Corequisites: ECON4103
Refer to ECON4101