Economics
Through the Economics specialisation, students build a strong understanding of the economic analysis of business decision-making and the economic environment in which businesses operate. The specialisation covers core microeconomic principles with applications to business behaviour, and the analysis of theories explaining trends in critical macroeconomic variables including long-run economic growth, inflation and the exchange rate. The specialisation builds on these fundamental economic insights to give students a deep understanding of strategic business behaviour, of financial and foreign exchange markets, and of how government policy can influence and constrain business decision-making.
Requirements for an Economics specialisation
To achieve a specialisation in Economics within theMaster of Commerce and Master of Commerce (Extension), students must complete 30 credit points in units of study comprising:
- 6 credit points of Table A - Foundational units of study;
- 6 credit points of Table A - Economics core units of study; and
- 18 credit points of Table A - Economics selective units of study.
Students completing this specialisation to meet the requirements for the Master of Commerce or as their compulsory specialisation for the Master of Commerce (Extension) would complete a 6 credit point capstone unit from Table A – Capstone units of study for their degree in the same subject area as their specialisation.
Students completing this specialisation as their optional second specialisation for the Master of Commerce (Extension) are not required to complete a capstone unit of study.
Sample pathways
(i) Master of Commerce
A sample pathway for the Economics specialisation spread over the three semesters of the Master of Commerce degree (Full-time study) is listed below.
| Session |
Units of study | ||
|---|---|---|---|
| 1st Semester |
Foundational: ECON5040 Foundation in Economics | Specialisation core: ECON5002 Macroeconomic Theory | |
| 2nd Semester |
Specialisation selective | Specialisation selective | |
| 3rd Semester |
Specialisation selective | ||
(ii) Master of Commerce (Extended)
A sample pathway for the Economics specialisation spread over 2 years of the Master of Commerce (Extension) degree (Full-time study) is listed below.
| Session | Units of study | |
|---|---|---|
| 1st Semester | Foundational: ECON5040 Foundation in Economics | |
| 2nd Semester | Specialisation core: ECON5002 Macroeconomic Theory | |
| 3rd Semester | Specialisation selective | Specialisation selective |
| 4th Semester | Specialisation selective | |
Please Note. This sample progression is meant as an example only. Depending on unit prerequisites, students may be able to complete these units in a different sequence to that displayed in the table above.
For details of the foundational, compulsory and elective units required for the specialisation please refer to the Table A- Economics section under Commerce Subject Areas in this handbook.
Learning Outcomes
| Mid-Level Learning Outcomes – Economics specialisation | |
|---|---|
| 1 | Apply advanced concepts and analytical tools used in business economics. |
| 2 | Apply economic skills and knowledge to identify solutions to challenging business problems. |
| 3 | Work both independently and collaboratively to develop and articulate an argument based on high level economic reasoning. |
| 4 | Communicate high level economic reasoning effectively to diverse audiences including those in a business setting. |
| 5 | Apply ethical perspectives to research, critical thinking, and the analysis of complex economic problems. |
| 6 | Critically evaluate the value judgments and their implications underpinning economic models used to analyse real world business problems. |
| 7 | Effectively collaborate with others from diverse cultural backgrounds to address high level interdisciplinary problems. |
Further information
For further information regarding study in Economics in the Commerce coursework programs, please contact the School of Economics.