Master of Economics (MC-ECO) // Attributes, outcomes and skills
About this course
- Further information: mbs.unimelb.edu.au
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Currently enrolled students:
- General information: https://ask.unimelb.edu.au
- Contact Stop 1
- Dr Jun Xiao firstname.lastname@example.org
Intended learning outcomes
Graduates of this degree will be critical thinkers in relation to microeconomics, macroeconomics and econometrics.
- Describe and explain the fundamental principles influencing markets and managing organizations
- Evaluate the impact of a variety of cultural and environmental factors on economic policy and business decisions
- Interpret and critically evaluate articles in the economics research literature.
Graduates of this degree will be analytical in the application of economics and econometrics theory, knowledge, principles, techniques and data.
- Explain and critically analyse factors that influence economic decision making in firms and government
- Identify strategic issues and solutions in relation to economic problems and activity within firms and government
- Apply knowledge of theory to analyse real and hypothetical problems in different markets both domestically and internationally.
Graduates of this degree will be independent in their choice, planning, implementation and reporting of an empirical project involving the application of economic analysis and econometric techniques.
- Apply basic mathematical techniques to analyse business data
- Evaluate the applicability of various theories and techniques to either economic policy or business decision making related problems
- Employ a range of tools of analysis pertinent to the evaluation of evidence in economic policy and business sectors, including statistical reasoning, and the use of econometric and/or mathematical computer software
- Use evidence based research techniques to support policy or business decisions
- Apply ethical principles and core economic ideas to address real world issues and problems.
Graduates of this degree will be problem solvers capable of explaining, applying and critically evaluating the use of economic and econometric models for description and hypothesis testing, forecasting, assessing different business decision options and different government policy options.
- Describe the core areas of economics and relate to those areas economic principles, theories and models
- Analyse and evaluate the key hypotheses, forecasts and options in either economic policy or business decision making
- Critically analyse economic policy or business decision making problems and apply relevant models and theories to generate effective solutions.
On successful completion of this course students should have improved the following 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;
- Statistical reasoning through completion of core econometrics subjects in the degree;
- Ethical approaches to research and practice through a knowledge of economic best practice;
- Research including the retrieval of information from a variety of sources;
- Receptiveness to ideas and independence in thinking; and
- Teamwork through collaborative exercises in tutorials and assessment.
On successful completion of this degree graduates will be:
- Receptive to alternate ideas through a review of the literature and through class participation and assessment;
- Ethical in their approach to research and work practices;
- Advanced in their use, critical evaluation and testing of economics models and in forecasting and assessing business and government policy options;
- Adept in statistical reasoning through completion of core econometrics subjects in the degree;
- Skilled in undertaking independent research in economics and econometrics;
- Advanced in problem solving through their understanding of macroeconomic and microeconomic issues and able to apply economic theory and statistical techniques to economic policy and business decision making;
- Critically analytical through the evaluation of ideas, views and evidence contained in the economic and econometric research literatures;
- Skilled in working effectively with computer software for the analysis of data;
- Adept at retrieval, summary and interpretation of economic and econometric information through class exercises and assessment;
- Able to apply and synthesise economic and econometric ideas, theory, models and evidence to domestic and international economic issues;
- Independent and effective in communication of ideas; and
- Collaborate and be effective in team work.
Last updated: 24 January 2023