BACHELOR OF ECONOMICS/BACHELOR OF ARTS (BEcon/BA)

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1 BACHELOR OF ECONOMICS/BACHELOR OF ARTS (BEcon/BA) Program Requirements The study of economics is central to an understanding of business, markets, trade, government policies and international issues, globalisation, health, development, and the environment. This program is for students intending to become economists and analysts in the public and private sectors and leads to careers in business, finance, international development, health, human resource management, marketing, management and research. The School of Economics is the State's largest, most experienced and influential economics school. Graduates are equipped to work on important policy and decision challenges in business and government. The program focuses on the resource allocation and decision making. Students can pursue individual interests and professional specialisations through a wide choice of courses. Study areas available include business economics; economic history; econometrics; environmental and resource economics, financial markets; labour economics; health economics; international trade and development; macroeconomics; and microeconomics. Bachelor of Economics/Bachelor of Arts (BEcon/BA) A student is required to obtain #68 comprising - #36 from the BEcon List including - o #0 of compulsory courses from Group 1; and o #4 from Group ; and o #10 from Group 3; and o # of elective courses from Groups, 3 or 4; and #3 from the BA List including - o two majors from Part A; or o one extended major from Part A; and o electives from Part A or B. Students may use from the BEcon List #10 from Group 3 and # of elective courses from Groups, 3 or 4 to study an approved #1 BEcon major. The six courses chosen for the major must meet the Group 3 and elective BEcon requirements. Students who must study MATH1040 as a BEcon elective may not be eligible for a BEcon major. Refer to the BEcon/BA rules for further information. 008 Program List for Bachelor of Economics Group 1 Compulsory ACCT1101 Accounting for Decision Making ECON1010 Introductory Microeconomics ECON100 Introductory Macroeconomics ECON1310 Quantitative Economic & Business Analysis A ECON130 Quantitative Economic & Business Analysis B ECON010 Microeconomic Theory ECON00 Macroeconomic Theory ECON030 Microeconomic Policy ECON040 Macroeconomic Policy ECON300 Introductory Econometrics Group ECON1050 Introductory Mathematical Economics ECON1100 Political Economy & Comparative Systems ECON1110 Australian Economic Institutions ECON110 The Economics of Social Issues Faculty of Business, Economics & Law Undergraduate Handbook

2 Group 3 AGRC307 Agricultural and Resource Policy ECON3010 Advanced Microeconomics ECON300 Advanced Macroeconomics ECON3050 Game Theory & Strategy ECON3060 Experimental Economics ECON300 Monetary Economics ECON310 Financial Markets & Institutions ECON30 Benefit-Cost Analysis for Business ECON3300 Applied Econometrics ECON3310 Econometric Theory ECON330 Statistical Theory for Economists ECON3400 Industrial Economics ECON340 Economics of Information and Communication Technology ECON3430 Managerial Economics ECON3440 Regulatory Economics ECON3450 Public Finance ECON3500 Economic Development ECON3510 International Trade Theory & Policy ECON350 International Macroeconomics ECON3530 Asian-Pacific Economies: Policy Issues ECON3550 Economic Institutions and Global Banking ECON3600 Australian Economic History ECON3700 Environmental Economics ECON3710 Economics of Natural Resources ECON3730 Economic Analysis of Law ECON3800 Human Resource Economics ECON3900 Special Unit Group 4 ECON050 Mathematical Economics ECON060 Behavioural and Evolutionary Economics ECON100 Philosophy of Economic Thought ECON00 Management of Financial Institutions ECON310 Statistical Theory for Economists ECON30 Business & Economic Decision Techniques ECON410 Economics of Business Strategy ECON460 Health Economics ECON500 China: Emergence, Implications & Challenges ECON540 Economics of Innovation and Entrepreneurship ECON600 Economic History of Asian Economies ECON610 International Economy in the Twentieth Century ECON800 The Economics of Labour Markets ECON810 Industrial & Labour Relations ECON830 Economics of Professional Sports MATH Basic Mathematics Group 5 Pre-008 BEcon/LLB students only LAWS51 Labour Law LAWS515 Unjust Enrichment LAWS517 Media and Communications Law LAWS5131 Planning Law LAWS5133 Natural Resources Law LAWS5134 Environmental Law LAWS5136 Commercial Law LAWS5138 Competition Law Faculty of Business, Economics & Law Undergraduate Handbook

3 LAWS5139 Insurance Law LAWS5144 Introduction to Taxation Law LAWS5145 Taxation Entities & Stamps LAWS5151 Law and Technology LAWS5163 International Trade LAWS5175 Advanced Constitutional Theory LAWS5188 Banking & Finance Law LAWS506 Copyright Law LAWS507 Patent & Trademark Law Group 6 Majors - Where definite instructions are given, students must follow those instructions when planning their major. Business and Industry Students must complete at least six courses from the following (of which three courses must be at level 3): ECON060 Behavioural and Evolutionary Economics ECON30 Business & Economic Decision Techniques ECON410 Economics of Business Strategy ECON540 Economics of Innovation and Entrepreneurship ECON800 The Economics of Labour Markets ECON810 Industrial & Labour Relations ECON30 Benefit-Cost Analysis for Business ECON3400 Industrial Economics ECON3430 Managerial Economics ECON3440 Regulatory Economics ECON3800 Human Resource Economics International Trade and Finance Students must complete at least six courses from the following (of which three courses must be at level 3): ECON00 Management of Financial Institutions [ ECON500 China: Emergence, Implications & Challenges [ or [ ECON610 International Economy in the Twentieth Century ECON300 Monetary Economics ECON310 Financial Markets & Institutions ECON3510 International Trade Theory & Policy ECON350 International Macroeconomics ECON3550 Economic Institutions and Global Banking FINM401 Financial Management FINM3401 Corporate Finance FINM3403 International Financial Management Natural Resources and Environment Students must complete at least six courses from the following (of which three courses must be at level 3): AGRC304 Agricultural & Resource Markets AGRC307 Agricultural and Resource Policy ECON30 Business & Economic Decision Techniques ECON30 Benefit-Cost Analysis for Business ECON3500 Economic Development ECON3700 Environmental Economics ECON3710 Economics of Natural Resources ENVM151 Agricultural & Ecological Economics ENVM3518 Environment and Development ENVM353 Natural Resource Management Quantitative Methods Faculty of Business, Economics & Law Undergraduate Handbook

4 Students must complete at least six courses from the following (of which three courses must be at level 3): ECON050 Mathematical Economics ECON30 Business & Economic Decision Techniques ECON3050 Game Theory & Strategy ECON3060 Experimental Economics ECON30 Benefit-Cost Analysis for Business ECON3300 Applied Econometrics ECON3310 Econometric Theory ECON330 Statistical Theory for Economists Note: ECON1050 is a prerequisite for ECON050 Endnotes 1. MATH1040 is compulsory for students who have not satisfied the Mathematics B entry requirement and must not be studied by students who have satisfied the Mathematics B requirement. Dual Programs Available with the Bachelor of Economics The following dual programs are available with the Bachelor of Economics. Program plans can be found on the myadvisor website at Bachelor of Economics with Bachelor of Applied Science Bachelor of Arts Bachelor of Business Management Bachelor of Commerce Bachelor of Engineering Bachelor of Health Sciences Bachelor of Information Technology Bachelor of Laws Bachelor of Science Please note: Students exiting early with one component of a dual degree must complete the single degree requirements of that component. Students will then be required to follow the single degree rules to complete the remaining component from that dual degree. Faculty of Business, Economics & Law Undergraduate Handbook

5 STUDY PLAN Bachelor of Economics/Bachelor of Arts - Dual Program Structure PROGRAM CODE: 095 You can use this outline to plan your program structure. Bachelor of Economics Bachelor of Arts Courses Total Please consult the Faculty of Arts Units regarding course selection. YEAR ONE YEAR ONE Semester 1 Semester 1 ACCT1101 Accounting for Decision Making ECON1010 Introductory Microeconomics ECON1310 Quantitative Econ & Bus Analysis A MATH1040 Basic Mathematics ( units) Semester Semester ECON100 Introductory Macroeconomics ECON130 Quantitative Econ & Bus Analysis B YEAR TWO YEAR TWO Semester 1 Semester 1 ECON010 Microeconomic Theory ECON00 Macroeconomic Theory Semester Semester ECON030 Microeconomic Policy ECON040 Macroeconomic Policy YEAR THREE YEAR THREE Semester 1 Semester 1 BEcon Group course ECON300 Introductory Econometrics Semester Semester BEcon Group course ECON3xxx Group 3 YEAR FOUR YEAR FOUR Semester 1 Semester 1 ECON3xxx Group 3 ECON3xxx Group 3 Semester Semester ECON3xxx Group 3 ECON3xxx Group 3 YEAR FIVE (where applicable) YEAR FIVE (where applicable) Semester 1 Semester 1 Group, 3 or 4 Elective Total #36 [#16 major 1 or [#4 for extended major (#8 if Psych) [#16 major [#8 electives (#4 if Psych) MATH1040 is a compulsory course for students who have not satisfied the Mathematics B entry requirement and must not be studied by students who have satisfied the Mathematics B requirement. Students who are required to take MATH1040 must move ECON1310 to a subsequent semester. MATH1040 will count as a [Group, 3 or 4 Elective] and has implications for students who wish to complete a major. Please see your academic administration officer in the BEL Faculty if you have any queries. It is not possible to study more than #8 in semester one of year one. A Major in BEcon requires careful planning; please see your academic administration officer for assistance. Ensure your BEcon and BA Major/s are correctly listed on mysi-net Faculty of Business, Economics & Law Undergraduate Handbook Total Units #3

6 CAREER OPPORTUNITIES Economics has been described as the science of administration of scarce resources. As scarce resources are a reality faced by both public and private organisations, critical thinking and the ability to assess economic impacts are skills vital for any entity engaged in economic activity. These skills are practical, readily adaptable and highly marketable. For this reason, demand for professionals with formal economics training is predicted to grow at a faster rate than for most other professions. In many cases, postgraduate students in economics are approached by employers and offered positions before they have completed their program. Economists are employed across an expansive range of occupations and organisational environments, applying their extensive range of problem-solving techniques and analytical tools to an equally diverse range of complex issues. Some graduates pursue careers as professional economists, but for the most part, they are successful in developing careers in areas such as: Public sector government departments and agencies (local, state and federal) in economic policy, finance or public accounting Private sector multinational corporations or local firms as economists or managers Financial institutions, stockbroking firms and merchant banks working as security, economic, investment and business analysts Public utilities in the fields of transport, communications and power supply International organisations or agencies providing advice and expertise for economic development and infrastructure projects Specialist organisations such as industry associations, management consultancies, market research and advertising organisations, and trade unions Employment opportunities are often dependant upon the elective courses chosen within an economics program. As an example, graduates who possess an expertise in econometric and other quantitative techniques are often attractive to employers due to their knowledge of, and practical skill in, rigorous analysis and sophisticated information systems used in government and business decision-making. Government employers who are particularly interested in such graduates include State and Federal treasuries, Foreign Affairs and Trade, Australian Bureau of Statistics, Industry Commission and the Reserve Bank of Australia. Private sector employers have been mainly the larger companies, such as banks, oil and natural resource companies, manufacturers, insurance companies and consultancies. A growing trend is for professionals trained in areas other than economics, such as engineering, accounting, management, marketing, public policy and planning, to enhance their career prospects by returning to study economics at the postgraduate level. Individuals and employers are recognising the significant skills that an economics qualification confers, and the synergy that exists across a wide variety of fields. PRIZES AND SCHOLARSHIPS The Archibald Scholarship To an Honours candidate on the basis of results in Advanced Microeconomics and Advanced Macroeconomics. The Australian Finance Conference Prize in Economics For greatest proficiency in first attempt at Level Macroeconomic Theory and Macroeconomic Policy. The Economic Society Prize For greatest overall proficiency in third level Economics subjects. John Wiley & Sons (Aust) Prize One prize each for highest achievement in Introductory Microeconomics and Introductory Macroeconomics each calendar year. Faculty of Business, Economics & Law Undergraduate Handbook 008 1

7 KPMG Consulting Prize First year student with the highest results in ECON1010 Introductory Microeconomics and ECON100 Introductory Macroeconomics. The students may be enrolled in any program. Queensland Competition Authority (QCA) Prize Highest averaged or combined GPA across the two courses, Regulatory Economics (ECON3440) and Advanced Microeconomics (ECON3010). Queensland Competition Authority (QCA) Vacation Scholarships The Scholarships are open to students who will complete their second or third year of study by the end of 006, majoring in economics and/or financial economics with advanced study in the microeconomic area. School of Economics Jubilee Scholarship The Scholarship will be awarded annually on the recommendation of a school committee chaired by the Head on the basis of the applicant's academic record, personal qualities and financial need to a student without prior opportunity to study at an overseas institution. HONOURS PROGRAM The goal of the Economics Honours Program is to provide an extra year of high quality study to enhance students applied and analytical skills and knowledge of current economic research literature and to provide training in research methods in economics. New candidates should refer course queries to either the academic or administrative officer within the School. Generally an honours graduate has better long-term career prospects. As the honours program does not commence until the pass degree is completed, there is plenty of time to consider whether or not to enrol for the honours program. However, there are specified courses in the pass degree that are required as prerequisites for honours enrolment. A good standard at Pass level (a Grade Point Average of at least 5) is required with an average grade of at least 5 over the specified prerequisite courses. An information meeting for prospective candidates is scheduled in August each year; this meeting is advertised in Level 3 classes and on School noticeboards. As an Honours student, you will find yourself in a stimulating environment. The course matter will be interesting and challenging, and in addition you will have the benefit of small classes and an informal class atmosphere, the challenge of frequent preparation of seminar papers, and the give and take of discussion with fellow students and staff members. You will find that the standard of discussion in Honours classes is generally much higher than in pass degree tutorials. You will get to know your fellow students and your lecturers in a way that is usually not possible in pass degree classes. The other aspect of the Honours work that distinguishes it from the pass degree is the thesis. The School includes the thesis requirement in order to give the Honours student some experience and training in carrying out a small research project under supervision and to provide an indication of his or her capacity for research. Bachelor programs with honours in Economics are available following both the Bachelor of Economics and the Bachelor of Arts. The postgraduate Bachelor of Economics Honours program is available in the fields of Economics and Econometrics. In the Faculty of Arts, honours programs are available in the field of Economics. In both cases there is provision for deferral of studies for a maximum of years between completion of the Pass Degree and enrolment in Honours. Further details can be obtained from the School of Economics. Honours program plans For BA and BEcon students in the field of Economics: Students intending to take Honours in the field of Economics must include the following courses in their pass degree program: Faculty of Business, Economics & Law Undergraduate Handbook 008

8 ECON1050 ECON3010 ECON300 Introductory Mathematical Economics Advanced Microeconomics Advanced Macroeconomics Economics A student is required to obtain #16 comprising - #1 for - [ ECON3300 Applied Econometrics [ or [ ECON7360 Applied Econometrics ECON6010 Microeconomics A ECON600 Macroeconomics A ECON Honours Thesis and #4 electives from - ECON6030 Microeconomics B ECON6040 Macroeconomics B ECON600 Advanced Monetary Economics ECON6300 Advanced Applied Econometrics ECON6310 Advanced Econometric Theory ECON6340 Inter-Industry Economic Modelling ECON640 Public Economics ECON6500 Economic Development ECON6510 International Economics ECON6600 Economic History ECON6700 Ecological & Environmental Economics ECON6710 Natural Resource Economics ECON6900 Special Unit May include # levels 6 or 7 courses approved by the Head of School. For students in the field of Econometrics: Students intending to take Honours in the field of Econometrics must include the following courses in their pass degree program: ECON050 ECON3010 ECON300 ECON3300 ECON3310 ECON330 Mathematical Economics Advanced Microeconomics Advanced Macroeconomics Topics in Applied Econometrics Econometric Theory Economic and Business Statistics (this course was formerly ECON310) Econometrics A student is required to obtain #16 comprising - #14 for - ECON6010 Microeconomics A ECON600 Macroeconomics A ECON6300 Advanced Applied Econometrics ECON6310 Advanced Econometric Theory ECON Honours Thesis and # electives from - ECON6030 Microeconomics B ECON6040 Macroeconomics B ECON600 Advanced Monetary Economics ECON6340 Inter-Industry Economic Modelling ECON6400 Inter-Industry Economic Modelling ECON6410 Inter-Industry Economic Modelling ECON640 Public Economics ECON6500 Economic Development Faculty of Business, Economics & Law Undergraduate Handbook 008 3

9 ECON6510 International Economics ECON6600 Economic History ECON6700 Ecological & Environmental Economics ECON6710 Natural Resource Economics ECON6900 Special Unit May include # levels 6 or 7 courses approved by the Head of School. An application in writing must be made to Head of School to undertake any course other than ECON Level 6 courses. Please see the Administrative Officer for Approval Request Form before enrolling in any such course. For BA Honours students: Students intending to take BA Honours (Economics) must have passed at least #8 units from: ECON1110 Australian Economic Institutions ECON1600 Economic & Social History ECON600 Economic History of Asian Economics ECON610 International Economy in the Twentieth Century ECON3600 Australian Economic History and obtained a GPA of 5 or higher in ECON courses. Candidates with a Bachelor of Arts must also hold at least a single major in Economics. Program plans for BA Honours (Economics) are available from the Honours Coordinator or on the School of Economics Website: POSTGRADUATE PROGRAMS The School of Economics offers a number of postgraduate programs designed to give students an opportunity to enter graduate study following undergraduate qualifications in any field including Economics. Students with undergraduate qualifications in Economics should receive exemptions from equivalent courses. The following postgraduate programs are available: Research Programs PhD Program MPhil Program Coursework Programs Graduate Certificate in Economics Graduate Certificate in Health Economics Graduate Diploma in Economics Graduate Diploma in Health Economics Master of International Economics and Finance Master of International Economics and Finance (Advanced) Master of Business Economics Master of Business Economics (Advanced) Master of Economics Master of Health Economics Master of Health Economics (Advanced) Faculty of Business, Economics & Law Undergraduate Handbook 008 4

10 CONTACT DETAILS Undergraduate Advising Faculty of Business, Economics and Law The University of Queensland Level 3, General Purpose North (39A) Brisbane Qld 407 Australia Tel: or Fax: facbel@bel.uq.edu.au Honours and Postgraduate Advising School of Economics Room 659, Level 6, Colin Clark Building (39) Blair Drive The University of Queensland Brisbane QLD 407 Australia Tel: Fax: enquiries@economics.uq.edu.au Faculty of Business, Economics & Law Undergraduate Handbook 008 5