In this double degree you will learn to apply your thinking in a commercial capacity and develop the skills required to solve complex problems, while developing a depth of expertise in economics.
This gives you a unique skill set. For example, economics provides foundational understanding of finance and actuarial studies, but combined with majors in actuarial studies or finance you will have substantive knowledge across all three.
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. Two specialisations provide a professional education in economics: economics and economics policy, and mathematical economics and econometrics. Both specialisations are designed to encourage logical thought and detailed analysis of economic issues that can be adapted to a range of careers.
NOTE: For learning outcomes and other relevant information of this double degree, refer to the single degree entries:
The requirements below detail what you must study in order to complete this double-degree course and receive the awards.
The course progression mapcourse progression map (http://www.monash.edu.au/pubs/2019handbooks/maps/map-b2032.pdf) provides guidance on unit enrolment for each semester of study.
Units are 6 credit points unless otherwise stated. You must complete 192 points:
1. 96 points must be completed in Parts A and B as described below in the Bachelor of Commerce component, of which:
- at least 24 points must be completed at level 3
2. 96 points must be completed in Parts A, B and C as described below in the Bachelor of Economics component, of which:
- no more than 10 units (60 points) completed at level 1
- at least 6 units (36 points) at level 3.
Commerce component
Bachelor of Commerce is a comprehensive course, and in the double degree course you complete commerce specified study and a commerce listed major.
Part A. Commerce specified study (48 points)
This will provide you with a broad foundation for your study of commerce and expose you to several commerce disciplines. This will contribute breadth to your knowledge of commerce and address the graduate course outcomes. It will also give you the opportunity to learn more about each discipline before finalising your choice of major.
You must complete:
a. The following 6 units (36 points):
- ACC1100 Introduction to financial accounting or ACC1200 Accounting for managers
- BTC1110 Commercial law
- ECC1000 Principles of microeconomics
- ETC1000 Business and economic statistics
- MGC1010 Introduction to management
- MKC1200 Principles of marketing
b. One elective unit (6 points) from the Faculty of Business and Economics on the Clayton campus
c. One capstone, project, international or internship experience unit (minimum 6 points) chosen from the units listed below.
If you are completing a major in accounting do not complete this section. The following units meet this course requirement: ACC3100/ACF3100 Advanced financial accounting and ACC3200/ACF3200 Management accounting.
Note: If you choose a 12 or 24 point unit you must discuss course progression with the Faculty.
Capstone unit
- BEX3150 Sustainability practice and organisations
- BEX3500 Current issues in commerce
Corporate project
International experience
- ACX3500 International study program in accounting
- BEX3622 Issues in global business
- BEX3722 Engaging with international business - Australia
- BEX3723 Engaging with international business - North America
- BEX3724 Engaging with international business - Asia
- BEX3725 Engaging with international business - Europe
- BEX3728Not offered in 2019 Engaging with international business (12 points)
- BFX3871 International study program in banking and finance
- BSA3004 Innovation and entrepreneurship in Silicon Valley
- MKX3521 Global study programs in marketing
Internships
Part B. Commerce listed major (48 points)
This will provide you with a focused program of study that will develop your expertise in one discipline area. You will develop, apply and communicate an advanced level of understanding of the concepts and theoretical frameworks that constitute the knowledge base of your major area of study. Due to the double degree structure, the Economics major is not available in this course.
You must complete a commerce listed major. A major requires eight units with no more than two units (12 points) at level 1 and at least three units (18 points) at level 3.
Depending on the major you choose, you may have already studied one of the units as part of your commerce specified study. If so, you must complete an additional commerce unit offered at Clayton campus to bring the combined commerce study to at least 96 points from the Faculty of Business and Economics.
If you intend to undertake an honours year, you should ensure you complete the specific units required for honours in your chosen major area of study.
Minors and majors
Refer also to the table of majors and minorsmajors and minors (http://monash.edu/pubs/2019handbooks/undergrad/bus-minor-major-extended-major-specialisation.html) which also details if an area of study is available as a minor or major.
Economics component
Bachelor of Economics is a comprehensive course that develops through the themes of foundation commerce knowledge, specialist discipline knowledge and capstone experience.
Part A. Foundation commerce knowledge (24 points)
These units will provide you with a comprehensive study of economics and econometrics disciplines and the impact they have on multi-discipline decision-making in organisations. The units consider the impact on the business, professional and public policy communities.
You must complete:
- ECC1000 Principles of microeconomics
- ECC1100 Principles of macroeconomics
- ETC1000 Business and economic statistics
- ETC2410 Introductory econometrics
Part B. Specialist discipline knowledge and Part C. Capstone experience (72 points)
Part B: These units will develop your capacity as a critical and creative professional who is able to apply your knowledge of a specialised area to provide discipline based solutions to commerce and economic policy.
Part C: The capstone unit is designed to consolidate the knowledge and skills acquired throughout the study of your specialisation.
Economics and economic policy specialisation
You must complete:
a. The following three units (18 points):
b. Three units (18 points) from List A below and two units (12 points) from List A or List B below:
List A:
List B:
- ECC2300 Current issues in macroeconomic policy
- ECC2360 Environmental economics
- ECC2450 Sports economics
- ECC2600 Behavioural economics
- ECC2610 Game theory and strategic thinking
- ECC2800 Prosperity, poverty and sustainability in a globalised world
- ECC3640 Economics of climate change
- ECC3800 History of economic thought
- ETC3410 Applied econometrics
c. Four units (24 points) selected from those offered by the Faculty of Business and Economics at Clayton and not already completed
Mathematical economics and econometrics specialisation
You must complete:
a. The following three units (18 points):
b. One of the following pairs of mathematics units (12 points):
- ETC2440 Mathematics for economics and business and ETC2520 Probability and statistical inference for economics and business
- ETC2440 Mathematics for economics and business and ECC2610 Game theory and strategic thinking
- MTH1020 Analysis of change and MTH1030 Techniques for modelling
- MTH1030 Techniques for modelling and one of either MTH2010 Multivariate calculus or MTH2021 Linear algebra with applications
c. Three units (18 points) from the following or any unit not taken in (b) with at least two units at level 3:
- ETC2520 Probability and statistical inference for economics and business
- ETC3410 Applied econometrics
- ETC3450 Time series analysis for business and economics
- ETC3460 Financial econometrics
- MTH2032 Differential equations with modelling
- MTH3051 Introduction to computational mathematics
- MTH3140 Real analysis
- MTH3241 Random processes in the sciences and engineering
d. Four units (24 points) selected from those offered by the Faculty of Business and Economics at Clayton and not already completed.
You may be eligible to exit the double degree program and graduate with either a Bachelor of Commerce or a Bachelor of Economics named degree after three years, depending on the units studied.
If you wish to graduate with a Bachelor of Commerce prior to the completion of the double degree you must have completed at least 144 points of studies, including all of the commerce requirements in Part A, B and C for the Bachelor of Commerce degree.
If you wish to graduate with a Bachelor of Economics named degree prior to the completion of the double degree you must have completed at least 144 points of studies, including all of the requirements in Part A, B, C and D for the Bachelor of Economics.
Honours
You may be eligible to apply for a one-year honours course once you have successfully completed this double degree, or have completed all of the requirements for one of the single degrees including a total of 144 points. The following honours courses apply:
- B3701 Bachelor of Commerce (Honours)
You are usually eligible to apply for honours if you achieve a distinction grade average (70 percent) or above in 24 points of studies in relevant discipline units at level 3. In addition, some majors require particular units to be taken for admission to honours. The details are provided with the requirements for each major to which this applies.
