Bachelor of Economics for 2013

At a glance

Major study areas  
2013 Handbook entry 

Career opportunities

Economics opens up a wide range of career opportunities. Our graduates work all over the world. They work in politics, banking, the stockmarket and international trade. They work for the government and multinational corporations. The range of career options depends on the subjects chosen but, given we offer a number of majors and open electives, graduates will be able to explore several career paths.

Examples of roles that graduates can pursue include analyst in a bank or consulting firm, economic advisor to a government minister, insurance broker for a major provider, or management trainee across a range of industries.

Professional recognitions

Australian

A Bachelor of Economics allows graduates to satisfy the educational requirements of various professional registrations and memberships. It all depends on what units you take. To learn more, visit professional recognition or talk to your course adviser.

Why study Bachelor of Economics?

Economics is the analysis of the economy and the factors that influence it, including growth, inflation and unemployment. A great economist uses ideas, data and models to uncover the workings of the economy. Our program aims to encourage logical thought and detailed analysis of economic issues, but our faculty also thinks outside the square. For example, we've modelled the economic effect that events like the Sydney Olympics and the Melbourne Grand Prix have had on our economy, and we've been engaged by the US Department of Homeland Security to quantify the economic effects of the H1N1 flu epidemic.

Our degree offers core units that introduce you to the key principles of economics. These units will help you understand how the microeconomic decisions of individuals, business and government influence the macroeconomic behaviour of the economy. You will complete a major in economics, econometrics and business statistics, or actuarial studies. It is possible to form a second major from your open electives.

This course consists of six core economics units, an eight-unit major in economics, econometrics and business statistics or actuarial studies, and 12 open electives.

View the full 2013 Faculty Undergraduate Course Guide.

Entry requirements

Clearly in ATAR score (2013):

  • n/a (Clayton)

View entry requirements and applications for domestic students

Duration

3 years full-time
6 years part-time

Fees for 2013

Fees are subject to change annually.

Commonwealth supported place (CSP)
Average annual student contribution
$ 8,750 AUD
Note: see information on how average fee is calculated.

From 1 January 2012 all students pay a Student Services and Amenities fee each calendar year.

Intakes

First Semester (March)

Attendances

  • On-campus at Clayton: full-time, part-time

Faculty

Faculty of Business and Economics

Course code: 0023

CRICOS code: 001447E

Find out more

Enquire now   Apply now   Entry requirements   For Business and Economics contact details refer to:
Business
and Economics.

Entry requirements

View entry requirements and applications for international students

Duration

3 years full-time

Fees for 2013

Fees are subject to change annually.

International fee per 48 credit points
48 credit points represents a standard full-time course load for a year
$ 34,000 AUD

From 1 January 2012 all students pay a Student Services and Amenities fee each calendar year.

Intakes

First Semester (March), Second Semester (July)

Attendances

  • On-campus at Clayton: full-time

Faculty

Faculty of Business and Economics

Course code: 0023

CRICOS code: 001447E

Find out more

Enquire now   Apply now   Entry requirements  

International Student Enquiries

Telephone: +61 3 9903 4788
Email: study@monash.edu

Double degree options

Admissions information for domestic students

Entry requirements

Minimum entrance requirements

Equivalent Australian Year 12.

Minimum entrance requirements for non-school-leavers

All applicants should note that the english and mathematics prerequisites for the courses must be satisfied.

TAFE

Although successful completion of at least two units at university level is preferred, students with at least a distinction average in a relevant TAFE diploma or advanced diploma may apply. Preference will be given to students whose prior studies are related to the course in which they are seeking admission. Programs that involve competency-based assessment without grades or marks will not meet the admission requirements.

University

Normally four single units with at least a credit average are required to be competitive for selection. Preference will be given to students whose prior studies are related to the course in which they are seeking admission. If undertaking studies at Monash University, students are advised to take the first-year units of their desired degree. Students should normally achieve at least a 60% average to be considered for admission.

Mathematics prerequisite

Applicants are required to have successfully completed VCE units 3 and 4, with a study score of at least 25 in mathematical methods or specialist mathematics, or their interstate/overseas equivalents, for admission to these courses.

VCE prerequisites

Units 3 and 4-a study score of at least 30 in English (ESL) or 25 in any other English, and a study score of at least 25 in mathematical methods (CAS) or specialist mathematics.

International Baccalaureate subject prerequisites

  • A score of at least 4 in English SL or 3 in English HL or 5 in English B SL or 4 in English B HL, and
  • A score of at least 4 in mathematics SL or 3 in mathematics HL or 4 in further mathematics SL.

Special application requirements

VICTORIAN TERTIARY ADMISSIONS CENTRE APPLICATIONS

Non-year 12 (eg. transfer, mature age, TAFE) applicants must complete the VTAC Personal Information (Pi) form.

University entrance requirements

Minimum entrance requirements for admission to Monash University Australia.

Entry scores

Qualification Clayton
2013 ATAR clearly in for CSP n/a

Applications

Semester one (March)

Applications for on campus studies should be made online through the Victorian Tertiary Admissions Centre.

Semester two (July)

This course is not available for Second Semester (July) entry.

Admissions information for international students

Entry requirements

International entry requirements

2013 international qualification entry requirements and scores for this course are available from the Undergraduate Qualifications Database.

=========Course Enquiry Portal========= If you are an international student applying directly to Monash and wish to find out if you are eligible for admission to this course, visit Course Enquiry Portal

Minimum entrance requirements for non-school-leavers

All applicants should note that the english and mathematics prerequisites for the courses must be satisfied.

TAFE

Although successful completion of at least two units at university level is preferred, students with at least a distinction average in a relevant TAFE diploma or advanced diploma may apply. Preference will be given to students whose prior studies are related to the course in which they are seeking admission. Programs that involve competency-based assessment without grades or marks will not meet the admission requirements.

University

Normally four single units with at least a credit average are required to be competitive for selection. Preference will be given to students whose prior studies are related to the course in which they are seeking admission. If undertaking studies at Monash University, students are advised to take the first-year units of their desired degree. Students should normally achieve at least a 60% average to be considered for admission.

Mathematics prerequisite

Applicants are required to have successfully completed VCE units 3 and 4, with a study score of at least 25 in mathematical methods or specialist mathematics, or their interstate/overseas equivalents, for admission to these courses.

VCE prerequisites

Units 3 and 4-a study score of at least 30 in English (ESL) or 25 in any other English, and a study score of at least 25 in mathematical methods (CAS) or specialist mathematics.

International Baccalaureate subject prerequisites

  • A score of at least 4 in English SL or 3 in English HL or 5 in English B SL or 4 in English B HL, and
  • A score of at least 4 in mathematics SL or 3 in mathematics HL or 4 in further mathematics SL.

English requirements for international students

IELTS 6.5 no band lower than 6.0; TOEFL 550 with a TWE of 4.5; or an internet-based TOEFL score of at least 79 with 21 in writing, 18 in speaking, 13 in reading and 12 in listening.

Special application requirements

VICTORIAN TERTIARY ADMISSIONS CENTRE APPLICATIONS

Non-year 12 (eg. transfer, mature age, TAFE) applicants must complete the VTAC Personal Information (Pi) form.

University entrance requirements

Minimum entrance requirements for admission to Monash University Australia.

Entry scores

2013 international qualification entry requirements and scores for this course are available from the Undergraduate Qualifications Database.

Qualification Clayton
A Level GCE (Click on the Undergraduate Qualifications Database link above for details on how the A-Level score is calculated.) 12

Applications

Semester one (March)

Current VCE or IB students studying in Victoria should apply online through the Victorian Tertiary Admissions Centre

Applications are made directly to the University and can be made online via International Recruitment Services.

Semester two (July)

Applications are made directly to the University and can be made online via International Recruitment Services.

Enrolment obligation

International students enrolling in a CRICOS-registered course can study no more than 25% of their course by distance and/or online learning. Students cannot enrol exclusively in distance and/or online learning study in any compulsory study period. See standard 9.4 of The National Code 2007.

Major study areas

ACTUARIAL STUDIES

Actuaries identify, analyse and assess risk. They determine the likelihood of economic or property losses such as those that occur during natural disasters and calculate insurance premiums that allow individuals, business and governments to insure against these risks. Actuaries do this by applying the concepts of mathematics and statistics to real life scenarios.

ECONOMICS

Economists analyse the production, distribution, and consumption of goods and services. They focus on how individuals, households, firms and governments interact and how economies work. Microeconomics examines the behaviour of buyers and sellers in the economy while macroeconomics analyses the entire economy and issues affecting it, including unemployment, inflation, economic growth, and monetary and fiscal policy.

ECONOMETRICS AND BUSINESS STATISTICS

Careers in the business world that use quantitative skills include the financial sector (stockbrokers, the insurance industry, finance companies, banks - e.g. developing models for investment opportunities), the manufacturing sector (e.g. providing quality control), and market research. Opportunities in the public sector include economic modelling, policy evaluation, and research into industry development.

FINANCIAL AND INSURANCE MATHEMATICS

Experts in the area of financial and insurance mathematics apply mathematical and statistical techniques to the understanding of financial markets. Like actuaries they determine the likelihood of specific outcomes and develop strategies that allow businesses and governments to either pursue new business opportunities or insure against risks.

PHILOSOPHY AND POLITICS

Philosophy and politics complements study in commerce and economics. To understand fully the challenges of modern society requires complementary disciplinary study and analysis. Philosophy helps in reasoning logically and in considering the ethical implications of decisions and policies. Politics assists in understanding how government and institutions affect decision-making and public policy.