Economics
About the major
Economics is a diverse, fascinating discipline that studies a wide range of issues that shape the broad framework of society – political, social and commercial. The School of Economics has a proud history as one of the most highly ranked centres in economics. This is reflected in our degrees, which promote a deep understanding of the key concepts of economics with a focus on contemporary issues of Australian and international importance. Our graduates are leaders in their fields – at the Reserve Bank, Treasury and other government departments, in global financial institutions, and with international agencies and NGOs. They also go on to further study at some of the finest institutions in the world.
The objective of the major in Economics is to equip students for the diverse range of careers which value the key skills of the discipline - understanding economic and social phenomena, analysing economic data, and exploring alternative choices in addressing key challenges. The major builds the training in economics incrementally. It addresses the essentials of the discipline early in the degree, which opens a wide range of choice at senior level. This allows students to shape concentrations in areas of interest – in macroeconomics, or in areas of applied economic policy.
Requirements for completion
The Economics major and minor requirements are listed in the Economics unit of study table.
Overlapping 1000 level core units of study
Where students are completing both an Economics major and a major in Financial Economics or Environmental, Agricultural and Resource Economics, where either or both of ECON1001 Introductory Microeconomics and ECON1002 Introductory Macroeconomics are core units for both majors, the overlapping 1000 level core unit can count towards the requirements for both majors.
Students needs to complete 6 credit points in elective units of study to make up for the overlap and ensure the required total of credit points are completed for their degree. The elective unit can be from the School of Economics electives or from Table S. For more information please refer to the Economics Degree Subject Area.
Overlapping 1000 level core units of study in School of Economics and Business School majors
Some 1000 level core units in majors offered by Business can be counted towards the requirements of both the relevant Business major and the Economics major, where there is a prohibition between the Economics major core unit ECON1001 Introductory Microeconomics and the relevant Business unit.
Students need to complete 6 credit points in elective units of study to make up for the overlap and ensure the required total of credit points are completed for their degree. The elective unit can be from the School of Economics electives or from Table S. For more information please refer to the Economics Degree Subject Area.
Unit equivalents to ECON1001 Introductory Microeconomics from Business:
- BUSS1040 Economics for Business Decision Making
Note that students completing a Bachelor of Economics, Bachelor of Economics and Bachelor of Laws, or Bachelor of Economics and Bachelor of Advanced Studies should always complete the core units for the Economics program and Economics major, ie in this case ECON1001 Introductory Microeconomics.
Learning outcomes
| No. | Learning outcome |
|---|---|
| 1 | Analyse and interpret consumer choice, the strategies of firms and government policy using microeconomic theories and principles. |
| 2 | Analyse and interpret economic outcomes and policies using appropriate macroeconomic theories and principles. |
| 3 | Analyse and interpret economic events using a range of economic models. |
| 4 | Demonstrate an understanding of the rationales for and consequences of government activity in the economy. |
| 5 | Clearly communicate the results and implications of informed and sophisticated economic analysis. |
| 6 | Work independently and collaboratively to construct and defend a valid economic argument. |
| 7 | Apply the principles of economics in a range of real world contexts or settings. |
Advanced coursework
The Bachelor of Advanced Studies within the School of Economics provides students with a cohesive program in advanced studies in Economics. The advanced coursework units provide students with advanced theoretical knowledge and skillsets for analysing macroeconomic policy issues and practice in Australia and internationally. They equip students with an understanding of the fundamentals of modern models of corporate finance and governance. The project units will develop communication and research skills, and allow students to apply their knowledge to a real world or policy related problem, with the opportunity to collaborate with industry partners.
Requirements and units of study for advanced coursework can be found on the Economics advanced coursework units of study page.
Honours
Sydney’s School of Economics is one of a handful of schools that provide a dedicated Honours stream from second year, with smaller classes to facilitate greater interaction with academic staff and other students. Our program is built upon a core of advanced microeconomics and macroeconomics courses. We also require students to strengthen their mathematical and data analysis skills. This core of subjects prepares students for a wide range of electives in their Honours year. The courses are challenging, and as students undertake advanced coursework and conduct independent research they develop their analytical, problem solving, writing, presentation and time-management skills.
Preparation for the final honours year in Economics at the University of Sydney begins in the second year of the undergraduate degree, with dedicated honours program units in both the second and third year. Entry into the Economics honours program is also possible in the third and fourth years, but the entry criteria are higher for students who take this pathway than for students who begin in their second year. Students entering in later years will also need to complete some units from the second and third years of the honours program.
For details please see http://sydney.edu.au/arts/economics/undergrad/honours.shtml
- An average of 70 percent or above across 3000-level units in the Economics major; and
- An average of 70 percent or above across the following three units: ECOS3901 Advanced Microeconomics Honours; and ECOS3902 Advanced Macroeconomics Honours; and ECOS3903 Applied Microeconometrics or ECOS3904 Applied Macroeconometrics (if both units of study have been taken, the highest mark in either ECOS3903/3904).
Prior to commencing honours, you will need to ensure you have completed all other requirements of the relevant undergraduate degree, including Open Learning Environment (OLE) units and a second major.
Requirements and units of study for honours can be found on the Economics honours units of study page.
Contacts and further information
Website: School of Economics
Email:
Example pathways
Economics major pathway
| Year and Semester | Units of Study | ||
|---|---|---|---|
| Year 1 |
Sem 1 | ECON1001 Introductory Microeconomics |
|
| Sem 2 | ECON1002 Introductory Macroeconomics |
||
| Year 2 |
Sem 1 | ECOS2001 Intermediate Microeconomics |
|
| Sem 2 | ECOS2002 Intermediate Macroeconomics |
||
| Year 3 |
Sem 1 | ECOS3XXX Economics major selective unit |
ECOS3XXX Economics major selective unit |
| Sem 2 | ECOS3XXX Economics major selective unit |
ECOS3997 Interdisciplinary Impact in Economics | |
Economics minor pathway
| Year and Semester | Units of Study | |
|---|---|---|
| Year 1 |
Sem 1 | ECON1001 Introductory Microeconomics |
| Sem 2 | ECON1002 Introductory Macroeconomics | |
| Year 2 |
Sem 1 | ECOS2001 Intermediate Microeconomics |
| Sem 2 | ECOS2002 Intermediate Macroeconomics | |
| Year 3 |
Sem 1 | ECOS3XXX Economics selective unit |
| Sem 2 | ECOS3XXX Economics selective unit | |
Double major pathway
Financial Economics and Economics
| Year and Semester | Units of study | ||
|---|---|---|---|
| Year 1 | Sem 1 | ECON10001 Introductory Microeconomics | ECMT1010 Introduction to Economic Statistics |
| Sem 2 | ECON1002 Introductory Macroeconomics | ||
| Year 2 | Sem 1 |
ECOS2001 Intermediate Macroeconomics or ECOS2901 Intermediate Macroeconomics Honours |
ECOS2XXX/ECOS3XXX Economics major selective unit |
| Sem 2 | ECMT2130 Financial Econometrics | ECOS2002 Intermediate Macroeconomics | |
| Year 3 | Sem 1 | ECOS3022 The Economics of Financial Markets | ECOS3XXX/ECMT3XXX Economics major selective unit |
| ECOS3XXX/ECMT3XXX Financial Economics major selective unit | ECOS3XXX/ECMT3XXX Economics major selective unit | ||
| Sem 2 | ECOS3XXX/ECMT3XXX Financial Economics major selective unit | ECOS3XXX/ECMT3XXX Economics major selective unit | |
| ECOS3997 Interdisciplinary Impact in Economics | ECON3998 Industry and Community Project | ||