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Economics
Bachelor of ArtsMajorYear: 2024
Economics
Contact information
Coordinator
Professor David Harris
Department of Economics
Email: econ-major@unimelb.edu.au
Currently enrolled students:
Future students:
Overview
Economists study how people choose to allocate resources. They look at the behaviour of individuals, organisations and governments to understand how markets function. Economics is essential to modern life. It seeks to understand, assess and explain the mechanisms of markets and national economies.
A major in economics builds problem-solving skills that are applicable to careers in business and government. It will teach you how to analyse and interpret data and will equip you with the tools to find smart solutions for the numerous problems confronting governments and the commercial world. Graduates with a major in Economics have varied employment opportunities in both the public and private sector. Three broad areas of study available within the main discipline are:
- Microeconomics
- Macroeconomics
- Econometrics
Intended learning outcomes
On completion of this major, students should be able to:
- Describe and explain the fundamental principles underpinning the functioning of markets
- Explain and critically analyse factors that determine economic decision making in households, firms and government
- Evaluate the impact of economic policy
- Identify issues and apply knowledge of theory to analyse real and hypothetical economic problems and suggest potential solutions
- Employ a range of tools of analysis pertinent to the evaluation of evidence in economic policy and behaviour, including statistical reasoning, and the use of econometric and/or mathematical computer software
- Understand the core methodological tools for working with economic data and be able to interpret and apply basic statistical and econometric methods and understand empirical papers of an appropriate level
- Interpret and critically evaluate articles in the economics literature
- Demonstrate appropriate communication skills for a professional environment
Last updated: 2 October 2024
Structure
112.5 credit points
The Department of Economics in the Faculty of Business and Economics offer a 112.5-point major and 75-point minor in the BA. Students intending to major in Economics should note that a study score of at least 25 in either Mathematical Methods 3/4 or Specialist Mathematics is a prerequisite for this program. Introductory Microeconomics must be completed before entering Introductory Macroeconomics and Intermediate Microeconomics at level 2. Introductory Macroeconomics must be completed before Intermediate Macroeconomics at Level 2.
Students who undertake a major in Economics will complete 112.5 points with 37.5 points taken as Arts discipline subjects, 75 points taken as breadth. Students completing the Bachelor of Arts Economics major cannot take any other breadth subjects. Taking a breadth subject other than Economics will prevent students from completing the major. For this reason, it is recommended that students add the Economics major to their study plan at the beginning of the course.
This major requires the completion of:
- 37.5 credit points of Level 1 core subjects
- 25 credit points of Level 2 core subjects
- 12.5 credit points of Level 2 electives
- 12.5 credit points of Level 3 Capstone subjects
- 25 credit points of Level 3 Economics and Econometrics elective subjects including
- A minimum of 12.5 credit points of Level 3 Economics electives
Note:
75 points of subjects in this major are required to be taken within the breadth component of the degree
Level 1 core subjects
Code | Name | Study period | Credit Points |
---|---|---|---|
ECON10004 | Introductory Microeconomics |
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
ECON10003 | Introductory Macroeconomics |
Summer Term (On Campus - Parkville)
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
ECON10005 | Quantitative Methods 1 |
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
Level 2 core subjects
Code | Name | Study period | Credit Points |
---|---|---|---|
ECON20002 | Intermediate Microeconomics |
Summer Term (On Campus - Parkville)
Semester 1 (On Campus - Parkville)
|
12.5 |
ECON20001 | Intermediate Macroeconomics | Semester 2 (On Campus - Parkville) |
12.5 |
Level 2 electives
Code | Name | Study period | Credit Points |
---|---|---|---|
ECOM20001 | Econometrics 1 |
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
ECON20003 | Quantitative Methods 2 |
Summer Term (On Campus - Parkville)
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
Level 3 Capstone subjects
Code | Name | Study period | Credit Points |
---|---|---|---|
ECOM30001 | Basic Econometrics | Semester 1 (On Campus - Parkville) |
12.5 |
ECOM30002 | Econometrics 2 |
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
Level 3 Econometrics electives
Code | Name | Study period | Credit Points |
---|---|---|---|
ECOM30003 | Applied Microeconometric Modelling | Semester 2 (On Campus - Parkville) |
12.5 |
ECOM30004 | Time Series Analysis and Forecasting | Semester 2 (On Campus - Parkville) |
12.5 |
Level 3 Economics electives
Code | Name | Study period | Credit Points |
---|---|---|---|
ECON30001 | International Trade Policy | Semester 2 (On Campus - Parkville) |
12.5 |
ECON30002 | Economic Development | Semester 2 (On Campus - Parkville) |
12.5 |
ECON30003 | Industrial Economics | Not available in 2024 | 12.5 |
ECON30005 | Money and Banking | Semester 1 (On Campus - Parkville) |
12.5 |
ECON30006 | Labour Economics | Semester 1 (On Campus - Parkville) |
12.5 |
ECON30007 | Economics of Food Markets | Not available in 2024 | 12.5 |
ECON30008 | History of Economic Thought | Not available in 2024 | 12.5 |
ECON30009 | Macroeconomics | Semester 2 (On Campus - Parkville) |
12.5 |
ECON30010 | Microeconomics | Semester 1 (On Campus - Parkville) |
12.5 |
ECON30011 | Environmental Economics | Semester 2 (On Campus - Parkville) |
12.5 |
ECON30013 | Economic Analysis and Policy | Semester 1 (On Campus - Parkville) |
12.5 |
ECON30016 | The Economics of Taxation | Not available in 2024 | 12.5 |
ECON30017 | Organisations, Economics and Incentives | Not available in 2024 | 12.5 |
ECON30018 | Economics of the Law | Semester 1 (On Campus - Parkville) |
12.5 |
ECON30019 | Behavioural Economics | Semester 2 (On Campus - Parkville) |
12.5 |
ECON30020 | Mathematical Economics | Semester 1 (On Campus - Parkville) |
12.5 |
ECON30022 | Experimental Economics | Semester 2 (On Campus - Parkville) |
12.5 |
ECON30023 | Health Economics | Not available in 2024 | 12.5 |
ECON30024 | Economics of Financial Markets | Semester 1 (On Campus - Parkville) |
12.5 |
ECON30025 | Computational Economics and Business | Semester 1 (On Campus - Parkville) |
12.5 |
ECON30029 | International Macroeconomics | Semester 2 (On Campus - Parkville) |
12.5 |
ECON30030 | Topics in Asian Economic History | Not available in 2024 | 12.5 |
Last updated: 2 October 2024