General
The Graduate Diploma in Economics provides more advanced training at the fourth-year level to economics graduates wanting a thorough grounding in modern economic analysis. The diploma is offered in the specialisations of economics, econometrics and economic history.
Course objectives
On completion of the course students should:
* be familiar with current developments in economics at an advanced level;
* be able to function as professional economists in business, government or academia;
* be able to understand recent developments in economic research, and effectively communicate this understanding both orally and in writing;
* have had the opportunity to develop the skills, knowledge and motivation necessary for further graduate level studies;
* have the capacity for independent critical evaluation of current economic research and policy issues;
* have developed specialised skills and knowledge in one of the streams available in the Graduate Diploma of Economics - economics, econometrics or economic history.
Entrance requirements
Entry will require a university degree in economics (or equivalent) completed at a high standard. Applicants will be expected to cope with work of honours standard; the academic and employment records of pass graduates will be examined for evidence of ability to perform at the required level. Applicants lacking some of the necessary economic and/or quantitative background could be admitted subject to successful completion of preliminary undergraduate courses in these areas.
Duration
Normally one full-time year or two part-time years of study.
Course structure
The course consists of six semester-length subjects, plus a policy seminar.
Economics specialisation
1 Two core economics subjects:
* ECO4650 Microeconomic theory
* ECO4660 Macroeconomic theory
2 One quantitative subject chosen from:
* ECM2400 Econometrics
* ECM3400 Econometric theory
* ECM3410 Applied econometrics
* ECM3440 Practical econometrics
The subject selected will depend on previous training in quantitative methods. Students who have previously completed a subject or subjects equivalent to these quantitative subjects will be required to substitute another subject from the list of optional subjects.
3 Optional subjects as follows:
* not more than one third year level subject taught by the Departments of Economics or Econometrics (Clayton) and available in the Bachelor of Economics degree;
* fourth year level subjects from the honours program in the Departments of Economics or Econometrics (Clayton), including graduate subjects available to honours students.
4 Policy seminar:
* ECO4860 Policy seminar
Economic history specialisation
1 Two core economic history subjects:
* ECO4530 Economic history
and one other subject taken from the following:
* ECO4510 Economic history of modern Europe
* ECO4540 History of economy and environment
* ECO4550 Population and development
2 Two economics subjects chosen from:
* ECO2020 Intermediate microeconomics
* ECO2030 Intermediate macroeconomics
* ECO3010 Current issues in economic policy
* ECO3660 Monetary economics
* ECO3680 Economic growth
* ECO3690 International economics
* ECO3710 Labour economics
* ECO3810 Public finance
The subjects selected will depend on previous training in economics. Students who have previously completed a subject or subjects equivalent to these economics subjects will be required to substitute another from the list of optional subjects.
3 Two optional subjects at least one of which must be an economic history subject:
* not more than one third year level subject taught by the Departments of Econometrics (Clayton) or Economics, available in the Bachelor of Economics degree;
* third year level economic history subjects;
* fourth year level subjects from the honours program in the Departments of Economics or Econometrics (Clayton), including those graduate subjects available to economic history honours students.
4 Policy seminar
* ECO4860 Policy seminar
Econometrics specialisation
1 At least three core subjects with at least one being selected from those starred:
* ECM3430 Applied econometric modelling
* ECM3450 Forecasting for business and economics
* ECM3460 Financial econometrics
* ECM4400 Econometric theory*
* ECM4410 Applied econometrics*
* ECM4420 Microeconometrics
* ECM4430 Quantitative economic policy
* ECO4850 Mathematical economic theory
2 Three optional subjects selected from the above subjects or from any of the subjects available to a Bachelor of Economics honours student in econometrics.
3 Policy seminar
* ECO4860 Policy seminar
or
* ECM4490 Econometric issues seminar (where students do not have an appropriate background for ECO4860)
Progression to Master of Economics
Students are required to pass all six subjects plus the policy seminar to qualify for award of the diploma. A final average grade equivalent to honours IIB (70 marks) or better is required in order for candidates to be eligible for entry to the Master of Economics. Students wishing to proceed to the Master of Economics in economics should note that ECM2410/ECM3440 (Practical econometrics), or an equivalent subject, is a prerequisite for entry.