Master of Commerce (Economics) (MC-COMECO)

Masters (Coursework)Year: 2018 Delivered: On Campus (Parkville)

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Overview

Award titleMaster of Commerce (Economics)
Year & campus2018 — Parkville
CRICOS code096133D
Fees informationSubject EFTSL, level, discipline and census date
Study level & typeGraduate Coursework
AQF level 9
Credit points200 credit points
Duration24 months full-time

The Master of Commerce (Economics) represents Years 1 and 2 (the coursework component) of the new 2 + 3-year combined Master and Doctoral Program in Economics and is only available to students pursuing the doctoral program. Students who complete the Master of Commerce (Economics) by passing all subjects with an average of at least 75% (H2A) in year 1 and, normally, an average of at least 80% (H1) in year 2, including recommendation for progression by a Board of Examiners, will be eligible to enrol in the PhD degree.

Entry requirements

1. In order to be considered for entry, applicants must have:

  • a four year undergraduate or a postgraduate degree with a strong analytical or mathematical component and with a weighted average mark of at least H2A (75%); or 
  • a qualification and professional experience considered to be equivalent; and
  • a personal statement outlining why they wish to be considered for the course; and
  • the Graduate Record Examination (GRE), unless the applicant has completed an undergraduate degree in Australia or New Zealand or met one of the approved conditions for GRE exemption; and
  • referee reports (except for applicants who have graduated from the University of Melbourne within the last 5 years).

 Meeting these requirements does not guarantee selection.

2. In selecting applicants, the selection committee will consider:

  • prior academic performance, and if relevant, professional qualifications;
  • the results of a Graduate Record Examinations (GRE) test completed within the last 5 years;
  • an interview for short-listed applicants;
  • motivation and capacity to complete the course in a timely manner;
  • relevant prior research and/or professional experience;
  • the referee reports; and
  • the personal statement.

3. The Selection Committee may seek further information to clarify any aspect of an application in accordance with the Academic Board rules on the use of selection instruments.

4. Applicants are required to satisfy the university’s English language requirements for graduate courses. For those applicants seeking to meet these requirements by one of the standard tests approved by the Academic Board, performance band 7 is required. 

 Notes:

  • To meet the analytical or mathematical prerequisite requirements, applicants with an economics background will normally be required to have a major in economics including calculus-based economics subjects plus an econometrics subject, equivalent to at least ECOM30002 Econometrics, with a weighted average mark of at least H2A (75%) across the major.
  • Applicants from a non-economics background require an undergraduate major of a mathematical/analytical nature including calculus, linear algebra and statistics subjects with a weighted average mark of at least H2A (75%) and will also be required to have completed microeconomics and macroeconomics subjects at least at the second year level.
  • Students who discontinue from the Master of Commerce (Economics) after year 1 but have successfully completed the requirements of the Graduate Diploma in Commerce (Economics) will be eligible to receive the Graduate Diploma in Commerce (Economics) as an exit award.
  • Applicants with a relevant two year postgraduate degree in economics with a weighted average mark of at least H2A (75%), who have completed subjects which satisfy the prerequisites for both the core and quantitative second year subjects in the Master of Commerce (Economics) may be awarded up to 100 points of credit into the Master of Commerce (Economics).

 

Inherent requirements (core participation requirements)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements of this entry.The University is dedicated to providingsupport to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website. http://www.services.unimelb.edu.au/disability/

Intended learning outcomes

  • Demonstrate an advanced understanding of the fundamental principles of economics and econometrics;
  • Describe and critically evaluate the core economic theories;
  • Describe the results of the applied research devoted to testing the core economic theories;
  • Critically comment on the results of the theoretical and applied research;
  • Develop cognitive, technical and creative skills to generate and evaluate advanced economic research questions;
  • Describe the core areas of economics and relate to those areas to economic principles, theories and models;
  • Determine an appropriate methodology for a research problem in economics;
  • Analyse and evaluate the key hypotheses in either economic policy or decision making problems;
  • Critically analyse economic policy or decision making problems and apply relevant models and theories to generate effective solutions;
  • Apply the necessary analytical skills and techniques to critically assess a range of issues in economics, including: developing relevant research questions; determining the appropriate methodology for addressing the research questions; determining the information and data needed to conduct the research; and determining the feasibility of a research project;
  • Conduct the research using the methodology and data they have assessed as being appropriate with appropriate synthesis and evaluation;
  • Communicate the results of their research in scholarly fashion.

Generic skills

  • Critical evaluation of ideas, views and evidence in support of an argument or proposition;
  • Problem solving in economics and business decision making through the application of appropriate economic theories, principles, and the econometric analysis of data;
  • Written and oral communication of economic related ideas, theories and solutions to peers and the wider community;
  • Ability to synthesize ideas, theories and data in developing solutions to economic problems;
  • Ethical approaches to research and practice through a knowledge of economic best practice.

Graduate attributes

  • Advanced in the use of state-of-the-art research methods required to conduct research within the scope of current economic knowledge;
  • Able to demonstrate research skills sufficient to carry out independent research in economics and econometrics;
  • Advanced in problem solving through their understanding of macroeconomic and microeconomic issues and able to to apply and synthesise economic ideas, theory, models and evidence to domestic and international economic issues;
  • Able to continue their careers as PhD candidates at research and policy-making institutes; and
  • Proficient at communicating ideas and research in a clear and concise manner.

Course structure

Students can only commence this program in Semester 1 of any year.

This course requires the completion of 150 points of compulsory subjects and 50 points of electives.

Assessment

Students must pass all subjects with an average of at least 75% (H2A) in Year 1 to proceed into Year 2.* and,

Students who discontinue from the Master of Commerce (Economics) after year 1 but have successfully completed the requirements of the Graduate Diploma in Commerce (Economics) will be eligible to receive the Graduate Diploma in Commerce (Economics) as an exit award.

*Note that, normally, an average of at least 80% (H1) in year 2, including recommendation for progression by a Board of Examiners, will be required to enrol in the PhD degree.

 

 

Subject options

Year 1

The first year of the Master of Commerce (Economics) consists of two core economics subjects and an econometrics subject in each semester and the (double subject) Research Report*.  The subjects are as follows:

Code Name Study period Credit Points
ECON90002 Microeconomics
Semester 1 (On Campus - Parkville)
 12.5
ECON90003 Macroeconomics
Semester 1 (On Campus - Parkville)
 12.5
ECOM90005 Advanced Econometric Techniques
Semester 1 (On Campus - Parkville)
 12.5
ECON90012 Microeconomics II
Semester 2 (On Campus - Parkville)
 12.5
ECON90014 Macroeconomics II
Semester 2 (On Campus - Parkville)
 12.5
ECOM90014 Advanced Econometric Techniques 2
Semester 2 (On Campus - Parkville)
 12.5
ECON90071 Economics Research Report Part 1
Semester 1 (On Campus - Parkville)
 12.5
ECON90072 Economics Research Report Part 2
Semester 2 (On Campus - Parkville)
 12.5

*Students who have already completed a research project/component that accounts for at least 25% of their year’s work during a four-year Honours degree in economics may be eligible for an exemption from ECON90071 and ECON90072 Economics Research Report Part 1 and Part 2, respectively. An exemption will normally only be considered if a grade at least equivalent to University of Melbourne H2A (75%) was achieved and if the four-year Honours degree in economics was completed no more than two years prior to entry into the second year of the Master program. Students who are eligible for an exemption from ECON90071 and ECON90072 Economics Research Report Part 1 and Part 2, respectively, will be able to choose two alternative 12.5 point subjects in consultation with the Master of Commerce (Economics) Program Director.

Year 2

Students must complete both of the following core subjects:

Code Name Study period Credit Points
ECON90055 Computational Economics
Semester 1 (On Campus - Parkville)
 12.5
ECON90056 World Economic History
Semester 2 (On Campus - Parkville)
 12.5

Students must complete two electives in the first semester and two electives in the second semester from the following list:

Code Name Study period Credit Points
ECON90064 Advanced Studies in Economics 1
Semester 1 (On Campus - Parkville)
 12.5
ECON90065 Advanced Studies in Economics 2
Semester 2 (On Campus - Parkville)
 12.5
ECOM90018 Advanced Studies in Econometrics 1
Semester 1 (On Campus - Parkville)
 12.5
ECOM90019 Advanced Studies in Econometrics 2
Semester 2 (On Campus - Parkville)
 12.5
ECON90067 Special Topics in Economics 2
Semester 2 (On Campus - Parkville)
 12.5

or equivalent subjects as approved by the Graduate Research Director,

AND:

Code Name Study period Credit Points
ECON90073 Economics Thesis Workshop Part 1
Semester 1 (On Campus - Parkville)
 12.5
ECON90074 Economics Thesis Workshop Part 2
Semester 2 (On Campus - Parkville)
 12.5

Further study

Progression from Year 1 to Year 2 of the MCom (Economics) requires:

  • An average of no less than 75% overall in the subjects taken during Year 1.

Progression from Year 2 of the MCom (Economics) to the Doctoral Program in Economics requires:

  • An average of no less than 80% overall in the subjects taken in Year 2
  • A recommendation for progression by a Board of Examiners.

Last updated: 6 April 2025