- 2019


Minor / Major

Commencement year

This area of study entry applies to students commencing this course in 2019 and should be read in conjunction with the relevant course entry in the Handbook.

Any units listed for this area of study relate only to the 'Requirements' outlined in the component of any bachelors double degrees.

Unit codes that are not linked to their entry in the Handbook are not available for study in the current year.

Managing faculty

Faculty of Business and Economics

Contact details

Monash Business SchoolMonash Business School (http://business.monash.edu/contact-us)



In order to make the best possible decisions under uncertain conditions, business and government policy makers need to quantify the consequences of all possible options available to them. Econometricians use empirical evidence to predict the set of possible outcomes and determine the risks involved in each possible course of action, to help policy makers in this decision making process. They also use data to evaluate the effectiveness of existing social and economic policies. This major includes not only the techniques for analysing and interpreting data, but also their scientific foundations. You will acquire the ability to modify existing techniques to suit new situations, and develop new methods when needed. Consequently, you need to have an interest in and an aptitude for mathematics to undertake this major. Econometricians are highly valued members of decision-making teams in commercial and public sectors.


Econometrics is listed in the Bachelor of Commerce at Clayton as a major or minor.


In addition to achieving the broad outcomes of their course, students successfully completing this major will be able to:

  • use their comprehensive understanding of econometric models and methodologies to inform economic decisions made in a variety of settings, and to implement such analyses in practice, and to construct new conceptual frameworks when required.


Major requirements (48 points)

No more than 12 points at level 1 may be credited to a major and at least 18 points must be credited to the major at level 3.

Students complete:

  1. The following three units (18 points):
    • ETC1000 Business and economic statistics
    • ETC2410 Introductory econometrics
    • ETC3410 Applied econometrics
  2. Five units (30 points) from the following, with at least two units (12 points) at level 3:
    • ETC1010 Data modelling and computing
    • ETC2440 Mathematics for economics and business*
    • ETC2500 Marketing research analysis or ECC2000 Intermediate microeconomics or ECC2010 Intermediate macroeconomics
    • ETC2520 Probability and statistical inference for economics and business
    • ETC3250 Business analytics
    • ETC3400 Principles of econometrics**
    • ETC3450 Time series analysis for business and economics
    • ETC3460 Financial econometrics
    • ETC3550 Applied forecasting for business and economics
    • ETX2250 Data visualisation and analytics
    • MKC3500 Survey data analysis

    *Students undertaking a degree in mathematics or engineering, who wish to complete the major in econometrics may take an equivalent mathematics unit (MTH1030 or ENG1005) to replace ETC2440.

    ** This unit is recommended for students planning to undertake honours in econometrics and business statistics.

Minor requirements (24 points)

Students complete:

  • any four units (24 points) from the major with the prefix ETC or ETX offered at the Clayton campus, with at least two units (12 points) at level 2 or 3

Relevant courses


Single degrees

Successful completion of the minor or major can be counted towards meeting the requirements for the following single degree:

  • B2001 Bachelor of Commerce

Students in this course can complete the minor using 24 points of their free electives.*

Students in other single bachelor's degrees may be eligible to complete the minor or major by using 24 or 48 points of their free electives.

* Students cannot complete both the minor and major in the same area of study.

Double degrees

Successful completion of the minor or major can be counted towards meeting the requirements for the Bachelor of Commerce component in the following double degrees:

  • B2006 Bachelor of Commerce and Bachelor of Global Studies
  • B2008 Bachelor of Commerce and Bachelor of Computer Science
  • B2020 Bachelor of Commerce and Bachelor of Arts
  • B2021 Bachelor of Commerce and Bachelor of Biomedical Science
  • B2022 Bachelor of Commerce and Bachelor of Music
  • B2023 Bachelor of Commerce and Bachelor of Science
  • B2025 Bachelor of Commerce and Bachelor of Information Technology
  • B2030 Bachelor of Commerce and Bachelor of Actuarial Science
  • B2032 Bachelor of Commerce and Bachelor of Economics
  • B2043 Bachelor of Commerce and Bachelor of Finance
  • E3005 Bachelor of Engineering (Honours) and Bachelor of Commerce
  • L3005 Bachelor of Laws (Honours) and Bachelor of Commerce