Graduate Diploma in Economic Studies GradDipEcSt
Course code: 0172
The Graduate Diploma in Economic Studies is aimed at graduates of
disciplines other than economics and commerce, graduates who have taken only
the equivalent of first-year economics or economics/commerce graduates of more
than ten years standing. Specialisations in economics, econometrics and
economic history are available. Students who achieve a high standard will be
able to progress to graduate work.
On completion of the course students should:
- have supplemented their undergraduate qualifications with a substantial
knowledge of the economic principles, the quantitative methods, and the logical
processes necessary for analysing the forces that govern the behaviour of
households, business enterprises, governments and the economy as a whole;
- have an understanding of the issues underlying major economic policy
decisions and an ability to appraise the implications of those decisions for
their own organisations;
- have developed an ability to apply their theoretical training effectively
to the solution of practical problems in the wide range of decision-making
environments and the wide range of careers that are open to graduates in
business, the public sector, and the professions;
- be able to communicate effectively in their areas of expertise, both
orally and in writing;
- have had the opportunity to develop the skills, knowledge and motivation
necessary for postgraduate study;
- have developed specialised skills and knowledge in one or more of the
areas of specialisation available - economics, econometrics, or economic history.
Admission to the course is open to applicants who have qualified for a
pass degree from a recognised tertiary institution. It is preferred that
applicants have successfully completed Year 12 mathematics or equivalent. For
the econometrics specialisation it may be necessary for students without a
tertiary background in statistics to undertake the first-level statistics
subject prior to entry to the course.
The Graduate Diploma in Economic Studies is a HECS-based course.
The Graduate Diploma in Economic Studies is normally completed in two
semesters of full-time study or four semesters of part-time study. The course
may need to be taken over three semesters due to the sequential nature of some
subjects.
This course is offered on-campus at the Clayton campus.
Substitutions rather than course credits are the rule. Students who have
passed subjects with content and standard similar to those of the four core
subjects within the economics and economic history specialisations are expected
to substitute other subjects; for example, for a person with a
mathematics/statistics background it may be appropriate to substitute a
higher-level econometrics subject for ECM9020 or ECM9031/2 or both. It is
assumed that students who have already passed subjects of a content and
standard similar to that of the other four subjects would not normally wish to
enrol in the diploma, but if there should be such students, a similar
substitution rule will apply. Substitution is only available for subjects
completed within the previous ten years.
The course consists of eight semester-length subjects.
1 Four subjects from the following, including at least one of ECM2400
and ECM3400:
- ECM2400 Econometrics
- ECM2420 Survey methods and managerial statistics
- ECM2430 Actuarial statistics
- ECM2450 Applied forecasting for business and economics
- ECM2480 Decision models for managers
- ECM3400 Econometric theory
- ECM3410 Applied econometrics
- ECM3430 Applied econometric modelling
- ECM3450 Time series analysis for business and economics
- ECM3460 Financial econometrics
- ECM3480 Decision analysis for managers
2 At least two subjects
from:
- Second or third-year subjects taught by the Department of Economics
(other than ECO2000 Microeconomics and ECO2010 Macroeconomics)
- ECO9000 Microeconomics
- ECO9010 Macroeconomics
Students whose qualifying degree is in
economics may, with the permission of the head of the Department of
Econometrics, substitute other subjects for the two economics subjects.
3 Two subjects from the preceding lists or from second and third-year
subjects available in the Bachelor of Economics degree.
1 Four core subjects:
- ECO9000 Microeconomics
- ECO9010 Macroeconomics
- ECM9020 Business and economic statistics
- ECM9031/2 Business and economic statistics (sequence as
appropriate)
Due to the sequential nature of ECM9020 and ECM9031/2,
students will not be able to take all the first four subjects in the first
semester of their course. Together with the background required for the other
subjects, this implies that a student with no prior economics or statistics may
need to take more than two semesters to complete the course.
2 At least two of the following:
- ECO3660 Monetary economics
- ECO3680 Economic growth
- ECO3690 International economics
- ECO3710 Labour economics
- ECO3810 Public finance
3 Not more than two other third or
second-year subjects taught by the departments of Economics or Econometrics
(Clayton) and available in the Bachelor of Economics degree, of which not more
than one may be from outside the Department of Economics or from second year.
1 As for the economics specialisation.
2 At least three of the following:
- ECO2500/ECO3500 Imperialism and development in Asia
- ECO2510/ECO3510 Australian economic history
- ECO2520/ECO3520 Rise of capitalism
- ECO2530/ECO3530 Economic history of Victoria
- ECO2550/ECO3550 Business in Asia
- ECO2560/ECO3560 European economic history since 1945
- ECO3570 The international economy since 1945
only one of which may be
a second-year subject.
3 Not more than one other second or third-year subject taught by the
Department of Economics or Econometrics (Clayton) and available in the Bachelor
of Economics degree.
- Students who successfully complete the Graduate Diploma in Economic
Studies with an average grade of credit or above may apply for admission to the
Graduate Diploma in Economics.
Handbook Contents
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Authorised by the Academic Registrar December 1996
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