The economic system is too complex to be analysed descriptively. Most economic decisions require strategic thinking, prediction of expected responses corresponding to each decision and the modelling of complex interactions among multiple economic agents. Mathematical modelling of economic interactions and the use of econometric techniques to evaluate the validity of these models using observed data, have transformed economics into a scientific discipline. This specialisation will be attractive to students with well-developed analytical abilities. Students will use mathematics to learn principles of economics, and to develop skills to formulate economic theories in a mathematical form that can be confronted by data. They will also learn econometric methods that enable them to estimate and test these models using empirical evidence and to quantify economic predictions.
This area of study entry applies to students commencing this course in 2018 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.
- The following three units (18 points):
- Intermediate microeconomics
- Mathematical economics
- Principles of econometrics*
* Capstone unit.
- One of the following pairs of mathematics units (12 points):
- Mathematics for economics and business and Probability and statistical inference for economics and business
- Mathematics for economics and business and Game theory and strategic thinking
- Analysis of change and Techniques for modelling
- Techniques for modelling and one of either Multivariate calculus or Linear algebra with applications
- Three units (18 points) from the following or any unit not taken in (b) with at least two units at level 3:
- Intermediate macroeconomics
- Environmental economics
- Behavioural economics
- Monetary economics
- Economics of developing countries
- International economics
- Labour economics
- Public finance
- Industrial organisation and regulation
- Applied forecasting for business and economics
- Probability and statistical inference for economics and business
- Applied econometrics
- Time series analysis for business and economics
- Financial econometrics
- Differential equations with modelling
- Introduction to computational mathematics
- Real analysis
- Random processes in the sciences and engineering
- Four units (24 points) selected from those offered by the Faculty of Business and Economicsoffered by the Faculty of Business and Economics (http://www.monash.edu.au/pubs/handbooks/units/index-byfaculty-bus.html) at Clayton and not already completed
Successful completion of this specialisation can be counted towards meeting the requirements for the following single degree:
- B2004 Bachelor of Commerce Specialist
Students in other single bachelor's degrees are not eligible to complete this specialisation.
Successful completion of this specialisation can be counted towards meeting the requirements for the Bachelor of Commerce Specialist component in the following double degrees:
- B2014 Bachelor of Commerce and Bachelor of Commerce Specialist
- B2024 Bachelor of Commerce Specialist and Bachelor of Arts
- B2009 Bachelor of Commerce Specialist and Bachelor of Computer Science
- B2015 Bachelor of Commerce Specialist and Bachelor of Information Technology
- B2016 Bachelor of Commerce Specialist and Bachelor of Science
- E3003 Bachelor of Engineering (Honours) and Bachelor of Commerce Specialist