Undergraduate - Course4430 - Bachelor of Economics Advanced with Honours

This course provides a professional education in the disciplines of economics and econometrics and business statistics will enable students to undertake detailed analysis of economic issues that can be adapted to a range of careers. Students take two periods of industry-based learning placements and receive scholarships.

The Bachelor of Economics Advanced with Honours 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 are 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.

Industry-based learning placements

Students undertake two 12-week periods of structured industry-based learning placements jointly supervised by Monash academic staff and industry representatives. Students are required to complete a comprehensive written report and verbal presentation of their placements. Students may be awarded a scholarship of $12,000 for each of the two industry placements.

Course progression requirements

A sustained high level of achievement must be demonstrated throughout the course. Students are required to maintain at least a distinction average (70 per cent) in each calendar year. Students who do not meet this standard will be required to transfer to 0023 Bachelor of Economics.

To be eligible to progress to honours at stage four in this course, students must have:

• completed 144 points of units including all of (a.) and (b.) in the 'Requirements'
• completed all the requirements for the major sequence in the area of study in which they wish to undertake honours
• achieved at least a distinction grade average (70 per cent) in relevant second and third year units.

The course has five main components:

• a set of core units which provide an introduction to the key areas of economics, and econometrics and business statistics
• a major from the Faculty of Business and Economics in either economics, econometrics and business statistics, actuarial studies or financial and insurance mathematics
• two industry based learning placement units
• 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 in the Faculty of Business and Economics
• honours coursework units from the student's area of specialisation and a research report.

Faculty of Business and Economics

• Actuarial studies
• Economics
• Econometrics and business statistics
• Financial and insurance mathematics

Honours level studies

+EconometricsEconometrics (http://www.monash.edu.au/pubs/2013handbooks/aos/econometrics/hons-bus-econometrics.html)

+EconomicsEconomics (http://www.monash.edu.au/pubs/2013handbooks/aos/economics/hons-bus-economics.html)

+Economics and econometricsEconomics and econometrics (http://www.monash.edu.au/pubs/2013handbooks/aos/economics-and-econometrics/hons-bus-economics-and-econometrics.html)

Students must complete 30 units over a maximum of ten years as follows:

(a.) 16 units (108 points) from the faculty at the Clayton campus as follows:

(i.) nine compulsory core units (54 points):

• ECC1000 Principles of microeconomics
• ECC1100 Principles of macroeconomics
• ETC1000 Business and economic statistics
• ETC1010 Data modelling and computing
• ECC2000 Intermediate microeconomics
• ECC2010 Intermediate macroeconomics
• ETC2410 Introductory econometrics
• ETC3410 Applied econometrics
• MTH1030 Techniques for modelling* or MTH1035Techniques for modelling (advanced)

(ii.) two industry based learning units (24 points):

• BEX3012 Industry based learning project
• BEX3112 Industry based learning project

(iii.) two units selected from those listed below (12 points)

• ECC3840 Mathematical economics
• ETC2440 Mathematics for economics and business
• ETC2520 Probability and statistical inference for economics and business
• any MTH coded level two or three unit**

* Refer to note under 'Additional degree requirements'.

** Refer to units at http://www.monash.edu.au/pubs/2013handbooks/units/index-bycode-m.html

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

• the major must come from the approved majors from the Faculty of Business and Economics listed under 'Areas of study'
• at most five units (30 points) from those in (i.) and (iii.) can be counted towards the major
• at least two units (12 points) must be completed at each of second and third year levels

(b.) up to six open electives (36 points)

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

*** Units may be taken from disciplines offered by another faculty either to form sequence, for example geography and environmental science, history, languages, mathematics, psychology, sociology (details of the requirements for these and other areas of study can be found via http://www.monash.edu.au/pubs/2013handbooks/aos/index-byfaculty.html) or can be taken as individual units.

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

NOTE: Students wishing to undertake honours in econometrics, or economics and econometrics must undertake ETC3400 (Principles of econometrics), prior to commencing the honours year as one of their electives.

(c.) eight honours units (48 points):

• from those 'Honours level studies' listed under 'Areas of study'

Additional degree requirements:

• a maximum of eight first-year level units (48 points)
• a minimum of 60 points at third-year level, of which at least four units (24 points) must be from those offered by the Faculty of Business and Economics at the Clayton campus (this includes the 24 credit points for industry-based learning units)
• 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
• students who have not studied Specialist Mathematics in VCE (or the equivalent) will need to complete MTH1020 prior to attempting MTH1030

Students who successfully complete the Honours degree of Bachelor of Economics may be eligible for admission to a master's program in the Faculty of Business and Economics subject to satisfying the appropriate entry requirements. For details visit http://www.monash.edu.au/study/coursefinder/faculty/buseco.

Bachelor of Economics Advanced with Honours