1999 Business and Economics Handbook - Graduate Diploma in Economic Studies

Graduate Diploma in Economic Studies - GradDipEcSt

General
Course objectives
Admission requirements
Fees
Duration
Mode of offering
Credit for work done previously
Course structure
Progression to further studies

General

Course code: 0172
The Graduate Diploma in Economic Studies is aimed at graduates of disciplines other than economics and commerce, graduates who have taken only the equivalent of first-year economics or economics/commerce graduates of more than ten years standing. Specialisations in economics, econometrics and economic history are available. Students who achieve a high standard will be able to progress to further graduate work.

Course objectives

On completion of the course students should:

have supplemented their undergraduate qualifications with a substantial knowledge of the economic principles, the quantitative methods, and the logical processes necessary for analysing the forces that govern the behaviour of households, business enterprises, governments and the economy as a whole;
have an understanding of the issues underlying major economic policy decisions and an ability to appraise the implications of those decisions for their own organisations;
have developed an ability to apply their theoretical training effectively to the solution of practical problems in the wide range of decision-making environments and the wide range of careers that are open to graduates in business, the public sector, and the professions;
be able to communicate effectively in their areas of expertise, both orally and in writing;
have had the opportunity to develop the skills, knowledge and motivation necessary for postgraduate study;
have developed specialised skills and knowledge in one or more of the areas of specialisation available - economics, econometrics, or economic history.

Admission requirements

Admission to the course is open to applicants who have qualified for a pass degree from a recognised tertiary institution. It is preferred that applicants have successfully completed Year 12 mathematics or equivalent. For the econometrics specialisation it may be necessary for students without a tertiary background in statistics to undertake the first-year level statistics subject prior to entry to the course.

Fees

The Graduate Diploma in Economic Studies is a HECS-based course.

Duration

The Graduate Diploma in Economic Studies is normally completed in two semesters of full-time study or four semesters of part-time study. The course may need to be taken over three semesters due to the sequential nature of some subjects.

Mode of offering

This course is offered on-campus at the Clayton campus.

Credit for work done previously

Substitutions rather than course credits are the rule. Students who have passed subjects with content and standard similar to those of the four core subjects within the economics and economic history specialisations are expected to substitute other subjects; for example, for a person with a mathematics/statistics background it may be appropriate to substitute a higher-level econometrics subject for ETC9020 or ETC9031/ 2 or both. It is assumed that students who have already passed subjects of a content and standard similar to that of the other four subjects would not normally wish to enrol in the diploma, but if there should be such students, a similar substitution rule will apply. Substitution is only available for subjects completed within the previous ten years.

Course structure

The course consists of eight semester-length subjects.

Econometrics specialisation

Course director: Professor Maxwell King
1 Four subjects from the following, at least one being selected from those marked with a dagger:

ETC2400 Econometrics_
ETC2430 Actuarial statistics
ETC2450 Applied forecasting for business and economics
ETC2480 Decision models for managers
ETC2500 Market research analysis
ETC3400 Econometric theory_
ETC3410 Applied econometrics
ETC3430 Applied econometric modelling
ETC3450 Time series analysis for business and economics
ETC3460 Financial econometrics
ETC3480 Decision analysis for managers
ETC3500 Survey data analysis

2 At least two subjects from:

Second or third-year subjects taught by the Department of Economics (other than ECC2000 Microeconomics and ECC2010 Macroeconomics)
ECC9000 Microeconomics
ECC9010 Macroeconomics

Students whose qualifying degree is in economics may, with the permission of the head of the Department of Econometrics and Business Statistics, substitute other subjects for the two economics subjects.
3 Two subjects from the preceding lists or from second and third-year subjects available in the Bachelor of Economics degree.

Economics specialisation

Course director: Dr Ian Wills
1 Four core subjects:

ECC9000 Microeconomics
ECC9010 Macroeconomics
ETC9020 Business and economic statistics
ETC9031 Business and economic statistics

Due to the sequential nature of ETC9020 and ETC9031, students will not be able to take all the first four subjects in the first semester of their course. Together with the background required for the other subjects, this implies that a student with no prior economics or statistics may need to take more than two semesters to complete the course.
2 At least two of the following:

ECC3660 Monetary economics
ECC3680 Economic growth
ECC3690 International economics
ECC3710 Labour economics
ECC3810 Public finance

3 Not more than two other third or second-year subjects taught by the departments of Economics or Econometrics and Business Statistics (Clayton) and available in the Bachelor of Economics degree, of which not more than one may be from outside the Department of Economics or from second year.

Economic history specialisation

1 As for the economics specialisation.
2 At least three of the following:

ECC2500/ECC3500 Imperialism and development in Asia
ECC2510/ECC3510 Australian economic history
ECC2520/ECC3520 Economic history of Australia in Asian business
ECC2540/ECC3540 American business history
ECC2550/ECC3550 Business in Asia
ECC2560/ECC3560 European economic history since 1945
ECC3570 The international economy since 1945

only one of which may be a second-year subject.
3 Not more than one other second or third-year subject taught by the Department of Economics or Econometrics and Business Statistics (Clayton) and available in the Bachelor of Economics degree.

Progression to further studies

Students who successfully complete the Graduate Diploma in Economic Studies with an average grade of 70 per cent or above may apply for admission to the Postgraduate Diploma in Economics.