Undergraduate - Course0023 - Bachelor of Economics

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.

This course 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.

These course outcomes are aligned with the Australian Qualifications Framework level 7, the Bologna Cycle 1 and Monash Graduate AttributesAustralian Qualifications Framework level 7, the Bologna Cycle 1 and Monash Graduate Attributes (http://opvclt.monash.edu.au/curriculum-by-design/aligning-course-outcomes-with-aqf-bologna.html).

Upon successful completion of this course it is expected that graduates 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 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 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 actuarial studies, economics, econometrics and business statistics, or financial and insurance mathematics with the option of a second major which could include philosophy and politics
• 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 another major.

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

Students must complete 24 units 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 compulsory core units (36 points):

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

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

• the major must come from the approved list of majors 'Areas of study'. Students cannot undertake the eight unit Philosophy and politics major as their first major.
• 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 geography and environmental science, history, languages, mathematics, psychology, sociology (details of the requirements for these and other majors can be found via the index of areas of study in this handbookindex of areas of study in this handbook (http://www.monash.edu.au/pubs/handbooks/aos/index.html) or can be 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.**

Individual elective units can be identified using the browse units toolbrowse units tool (http://www.monash.edu.au/pubs/handbooks/units/search) in the current edition of the handbook. The level of the unit is indicated by the first number in the unit code; undergraduate units are those that commence with the number 1-3.

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

Bachelor of Economics