On completion of a major in economics in the Bachelor of Economics or Bachelor of Commerce, students should progress from a general understanding of the economic way of thinking and simple analysis of economic problems in the first year, through the acquisition of more technical economic analytical tools in the second-year core subjects, to being able to apply these concepts and tools to more sophisticated and informed analysis of economic problems and policies in a range of economic specialisations in second and third-year subjects. They should have acquired understanding of the institutional and social settings and constraints within which economic decisions are made and economic policy formulated. Those who take economic history subjects should have added an historical perspective.
On completion of third year, students should be able to address a wide range of economic problems with the ability to conceptualise and analyse them, and with an understanding of how various parts of the economy fit together and interact. They should have acquired and developed processes of logical thought which can be applied widely, and not just to those matters which are usually termed `economic', and be able to communicate the results to others. Students not only should be able to undertake economic analysis for employers in business and government and also to conceptualise and analyse problems in any area requiring the management of scarce resources, they should have acquired modes of thought and skills which provide a basis for a range of occupations both at the time of graduation and throughout their careers.
The study of second and third-year subjects in economics can significantly add to the analytical skills and career prospects of students choosing to major in accounting and finance, management, or quantitative studies. Second-year and third-year elective subjects further develop the ideas gained in the compulsory first-year economics subjects, and they illustrate the applicability of economics to better understanding a wide range of business issues.
The Department of Economics offers two-year and three-year sequences in economics and a fourth-year honours program. For Bachelor of Economics, Bachelor of Commerce and Bachelor of Accounting students, ECO1000 and ECO1010 are compulsory. ECO2000 and ECO2010 are also compulsory for Bachelor of Economics students and these core subjects should be taken by all students wishing to take a major sequence in economics. Such students should also take at least four other subjects from the Department of Economics, of which at least two should be third-year subjects.
Students wishing to pursue a major sequence in economic history should take the first-year economic history subjects ECO1510 and ECO1520 and at least four other economic history subjects, at least two being third year. Economic history subjects offered at second and third-year levels are ECO2500/3500, ECO2510/3510, ECO2520/3520, ECO2530/3530, ECO2550/3550, ECO2560/3560 and ECO3570.
Students of the faculty may also pursue minor sequences in economics, including economic history, by taking three second or third-year subjects from the department. Or, students may select individual subjects (provided the appropriate prerequisites are satisfied) to complement specialisations in other areas.
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