Monash University Handbook 2010 Undergraduate - Course

This program enables students to build on their undergraduate major and extend their knowledge and skills in one or more specialised areas. Some programs contain a mix of advanced theory, research training and research and some programs require students to complete successfully both coursework and a research project.

The Honours degree of 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

(e.) have an ability to undertake research informed by advanced studies in their discipline.

Applicants must have completed a bachelor degree, with a major in the related discipline offered by the Faculty of Business and Economics or an equivalent qualification from another university, and normally have achieved an average equivalent to at least 70 per cent in relevant second and third year units.

Econometrics specialisation

Applicants should normally have completed at least three third-year econometrics units including:

• ETC3400 Principles of econometrics
• ECC3410/ETC3410 Applied econometrics

Other appropriate third-year units are:

• ETC3450 Time series analysis for business and economics
• ETC3460 Financial econometrics
• ETC3500 Survey data analysis
• ETC3510 Modelling in finance and insurance
• ETC3490 Business simulation.

Economics specialisation

Applicants should have completed ECC2000 and ECC2010 and at least four third-year economics units.  In addition, an econometrics pre-requisite is required: either ECC2410 (for students who began their studies in 2007 or after); or ETC1010 (or equivalent, for students who began their studies prior to 2007).

Economics and econometrics specialisation

(a.) Applicants should have completed at least two third-year economics units.

(b.) applicants should have completed at least two third-year econometrics units including:

• ETC3410/ECC3410 Applied econometrics.

Other appropriate third-year units are:

• ETC3400 Principles of econometrics
• ETC3450 Time series analysis for business and economics
• ETC3460 Financial econometrics
• ETC3500 Survey data analysis
• ETC3510 Modelling in finance and insurance
• ETC3490 Business simulation

The course structure has two main components:

• studies in research methods
• honours units from the student's area of specialisation (economics, econometrics, economics/econometrics, management, marketing)
• a research report.

The degree requires completion of 48 points as follows:

Econometrics specialisation

(a.) One core unit (12 points):

• ETC4860 Research paper

(b.) at least three units (18 points) from the following list:

• ETC4010 Reading unit
• ETC4400 Econometric theory
• ETC4410 Applied econometrics 2
• ETC4420 Microeconometrics
• ETC4430 Quantitative economic policy
• ETC4460 Financial econometrics 2
• ETC4480 Optimisation for management
• ETC4541 Special topics in econometrics

(c.) up to three further units (18 points) subject to the following conditions:

• a maximum of two third-year level units from the departments of Econometrics and Business Statistics, Economics, Accounting and Finance, or School of Mathematical Sciences (Faculty of Science). It is strongly recommended that ETC3400 (Principles of econometrics) be included, if the student has not previously passed this unit
• a maximum of three units from honours units offered by the Department of Economics or the School of Mathematical Sciences
• a maximum of two units from honours units offered outside the faculty (apart from the School of Mathematical Sciences, from which three honours units can be taken).

Students must have their enrolment approved by the head, or nominee of the Department of Econometrics and Business Statistics.

Economics specialisation

(a.) Three compulsory units (24 points):

• ECC4650 Microeconomics
• ECC4660 Macroeconomics
• ECC4860 Applied economics research paper (12 points)

(b.) a maximum of four units (24 points) from the following list:

• ECC4670 Development economics
• ECC4690 International trade
• ECC4700 Competition, regulation and policy
• ECC4710 Post-Keynesian economics
• ECC4720 Law and economics
• ECC4750 Financial economics
• ECC4790 Project evaluation
• ECC4810 Public economics
• ECC4830 Welfare economics
• ECC4840 Economics of industry, institution and organisation
• ECC4850 Mathematical economic theory
• ECC4870 Health economics
• ECC4990 Economic evaluation of health services
• ETC4430 Quantitative economic policy

Students can vary this list subject to the following conditions:

• a maximum of two units from the departments of Accounting and Finance, Business Law and Taxation, or Econometrics and Business Statistics. One of these units can be a third-year level unit
• a maximum of one third-year level unit from the Department of Economics
• a maximum of one honours unit from another faculty where it is complementary to the honours program offered by the Department of Economics.

Students must have their enrolment approved by the head, or nominee of the Department of Economics.

Economics and econometrics specialisation

(a.) One core unit (12 points):

• ECC4860/ETC4860 Applied economics research paper

(b.) three units (18 points) from the following list:

• ECC4650 Microeconomics
• ECC4660 Macroeconomics
• ETC4410 Applied econometrics 2
• ETC4420 Microeconometrics

(c.) up to three further units (18 points) from the following list, subject to the condition that students complete a total of three ECC units and two ETC units in (b.) or (c.):

• ECC4670 Development economics
• ECC4690 International trade
• ECC4700 Competition, regulation and policy
• ECC4710 Post-Keynesian economics
• ECC4720 Law and economics
• ECC4750 Financial economics
• ECC4790 Project evaluation
• ECC4810 Public economics
• ECC4830 Welfare economics
• ECC4840 Economics of industry, institution and organisation
• ECC4850 Mathematical economic theory
• ECC4870 Health economics
• ECC4990 Economic evaluation of health services
• ETC4400 Econometric theory
• ETC4430 Quantitative economic policy
• ETC4460 Financial econometrics 2
• ETC4480 Optimisation for management
• ETC4541 Special topics in econometrics

Students can vary this list subject to the following conditions:

• a maximum of one third-year level unit taught by the Department of Economics or the Department of Econometrics and Business Statistics.

Students must have their enrolment approved by the heads, or nominees of the departments of Economics, and Econometrics and Business Statistics.

The honours degree of Bachelor of Economics