Monash University Handbook 2011 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, econometrics and business statistics or actuarial studies
• 12 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.

The degree requires completion of 24 units (144 points) over a maximum of eight 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 'Areas of study'.
• at least two units (12 points) must be completed at each of second and third-year levels

*Note: Depending on the major chosen, one or more of the units in the major may have already been studied as part of the group of common core units - where this is the case, students will complete additional unit/s as detailed below.

(iii.) additional units from the faculty in the Bachelor of Economics at the Clayton campus to reach the required minimum of 12 units (72 points).

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

• may be taken from disciplines offered by another faculty either to form a major and/or minor(s), for example history, languages, mathematics, philosophy, politics, psychology, sociology, or taken as individual units
• may be taken from any Faculty of Business and Economics programs and campuses to form a major, or taken as individual units.**

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

Areas of Study

• Actuarial studies
• Economics (BEc)
• Econometrics and business statistics (BEc)

Bachelor of Economics