Monash University Handbook 2010 Undergraduate - Course

Economics is the science of allocating scarce resources to maximise people's welfare. Economists study both the microeconomic decisions of individuals, business and government, and the macroeconomic behaviour of the economy as a whole.

The Monash Bachelor of Economics provides a professional education in the disciplines of economics or econometrics and business statistics and is designed to encourage logical thought and detailed analysis of economic issues that can be adapted to a range of careers.

The Bachelor of Economics aims to produce graduates who will:

(a.) be critical and creative scholars who:

• produce innovative solutions to problems
• apply research skills to business challenges
• communicate effectively and perceptively

(b.) be responsible and effective global citizens who:

• engage in an internationalised world
• exhibit cross cultural competence
• demonstrate ethical values

(c.) have a comprehensive understanding of their discipline and be able to provide discipline based solutions relevant to the business, professional and public policy communities that we serve

(d.) be able to construct conceptual frameworks and use these to analyse complex issues in the corporate sector, government and the professions.

The course structure has three main components:

• a set of core units which provide an introduction to the key areas of economics and econometrics and business statistics
• an eight unit major in either economics or econometrics and business statistics
• eight open electives which may be taken from any Faculty of Business and Economics programs and campuses, or from disciplines offered by another faculty. These open electives can, in some cases, form a second major
• four additional electives from approved complementary discipline areas.

The degree requires completion of 24 units (144 points) over a maximum of 10 years as follows:

(a.) 12 units (72 points) from the faculty in the Bachelor of Economics at the Clayton campus as follows:

(i.) six core units (36 points):

• ECC1000 Principles of microeconomics
• ECC1100 Principles of macroeconomics
• ETC1000 Business and economic statistics
• ETC1010 Data modelling and computing
• ECC2000/ETC2000 Intermediate microeconomics
• ECC2010/ETC2110 Intermediate macroeconomics

(ii.) a major of eight units (48 points):

• the major must come from the approved list of majors below
• at least two units (12 points) must be completed at each of second and third-year levels

(b.) 12 electives (72 points) as follows:

(i.) eight open electives (48 points):

• may be taken from disciplines offered by another faculty
• may be taken from any Faculty of Business and Economics programs and campuses*

(ii.) an additional four electives (24 points) may be taken from any Faculty of Business and Economics programs and campuses,* or from the following complementary disciplines from the Faculty of Arts and Faculty of Science:

• geography and environmental science
• history
• politics
• mathematics
• sociology
• philosophy
• languages (selected from offerings at the Clayton campus).

Details of these disciplines is available at http://www.monash.edu.au/pubs/2010handbooks/aos/index-ug-byfaculty-arts.html and http://www.monash.edu.au/pubs/2010handbooks/aos/index-ug-byfaculty-sci.html.

* Note: Enrolment in units at another campus is subject to there being capacity after students from that campus have enrolled.

Additional degree requirements:

• a maximum of 10 first-year level units (60 points)
• a minimum of six third-year level units (36 points), of which at least four units (24 points) must be from those offered by the faculty at the Clayton campus
• in addition to specific unit prerequisites, second-year level units require the successful completion of three first-year level units and third-year level units require the successful completion of two second-year level units.

Units required for specified majors

Economics

Students need to complete a minimum of eight units offered by the Department of Economics, Clayton campus (ECC or Clayton-based ECX units).

Econometrics and business statistics

Students need to complete a minimum of eight units offered by the Department of Econometrics and Business Statistics, Clayton campus (ETC or Clayton-based ETX units).

Bachelor of Economics