Career opportunities

Graduates who specialise in economics are well qualied to apply for positions in many different sectors and organisations including: international rms; the public service; government relations; consulting rms; public opinion and marketing agencies; the media; and universities. Economics graduates are also suited for leadership positions in business and industrial organisations. It is also possible to combine economics with law and work in law rms or in the eld of government regulation. Many economics graduates join government agencies such as Treasury, the Reserve Bank, the Department of Foreign Affairs and Trade, the Australian Competition and Consumer Commission or the Productivity Commission. Others, who combine economics with majors in accounting, are employed in large accounting rms specialising in taxation or industryspecic issues. High-prole Monash graduates who have degrees in economics include: Gary Banks, Chairman, Productivity Commission Terry McCrann, Associate Editor of Business, Herald Sun Newspaper Simon Crean, Member of Parliament, and former Leader of the Opposition Rhonda Galbally, former CEO, Victorian Health Promotion Foundation Margaret Jackson, Chairman, Qantas Airways Ian MacFarlane, former Governor, Reserve Bank of Australia Ross Oakley, former CEO, Australian Football League Helen Silver, Secretary, Department of Premier and Cabinet

Cordelia Foo
Current student Bachelor of Commerce/ Bachelor of Economics

Faculty of Business and Economics

I am studying currently studying a double degree in commerce and economics with majors in economics and econometrics. I love how economics is used to explain real-life events by breaking them down into their essential elements. The economic models of growth have been a particular area of interest for me, as I have always been interested in economic development and income inequality. Ive also discovered throughout my course that many of the basic economic concepts can be applied to a wide range of situations, which will be very benecial in the workplace. Im also involved with the Monash branch of the Economics Student Society of Australia, which is a great opportunity to learn more about economics and provide a platform where policy issues can be discussed.

A closer look at

ECONOMICS
You can study economics in the: Bachelor of Business Bachelor of Commerce Bachelor of Economics Bachelor of Economics Advanced with Honours Bachelor of Business Administration

Melissa Fung
Current student Bachelor of Commerce/ Bachelor of Economics

I chose to study a double degree in commerce and economics, because it gives me a lot of exibility, and the ability to study three majors accounting, nance and economics. I really enjoy economics, because the topics we cover are contemporary and relevant to todays society (e.g. Chinas rapid urbanisation, foreign aid, or studying the Olympics as part of my sports economics unit). Even though I want to work as an accountant when I graduate, I believe my major in economics will give me an edge in the employment market.

Why study Economics?

Economics is the science of decision making. Studying economics helps you develop logical and rigorous ways to think through problems and make informed decisions about the various economic issues we face every day. Economics helps you understand the costs and benets of decisions made by individuals, organisations and governments which is essential if you want to pursue a career in business. Most importantly, studying economics will give you a competitive edge in your business career by enabling you to imagine and think about the big picture.

Careers in economics
Professional economists are employed as policy makers and researchers in the private and public sectors, and in international organisations. Graduates who specialise in economics often work in: banks and nancial services rms public opinion and marketing agencies research units of private rms government academia international organisations welfare organisations.

Economics at Monash
Monash is ranked 26th in the world for Economics by the QS World University Rankings, and is ranked no.1 in the southern hemisphere in the eld of experimental economics by REPEC thats why its such a great place to study economics! A strong background in economics will be a huge plus in your career whether you choose to work in accounting, nance, management, marketing or any other business area. Thats why Monash offers a core economics unit across all our undergraduate business, commerce and accounting degrees. You can also study economics as a major in the Bachelor of Business, Bachelor of Commerce and Bachelor of Economics (and related tagged or double) degrees, or study economics units as electives in many other undergraduate degrees.
Monash University reserves the right to alter information, procedures, fees and regulations contained in this document. Please check the Monash University website for updates (www.monash.edu). All information reects prescriptions, policy and practice in force at time of publication. Published July 2013. CRICOS provider: Monash University 00008C

Studying economics units will complement majors in accounting, banking and nance, law, marketing and psychology.

www.monash.edu/business-economics

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www.monash.edu/business-economics

Studying economics
First year subjects introduce and apply major economic concepts. Students are encouraged to use the latest in computer-aided learning programs and to access computer networks for current data on key economic indicators, not only for Australia, but also for other countries. The skills developed in rst year are enhanced in later years. They provide a base for more advanced analysis of microeconomic and macroeconomic issues. Other subjects apply the basic principles and tools of economists to such matters as the labour market, the nancial system, demands on the environment, economic systems, education and health, transactions, taxation and economic regulation.
Bachelor of Business Major in Economics First Year Semester 1 Semester 2 Second Year Semester 1 Semester 2 Third Year Semester 1 Semester 2 Economics unit (students choice) Economics unit (students choice) Economics unit (students choice) Open elective or second major Open elective or second major Open elective or second major Open elective or second major Open elective or second major Macroeconomics and monetary policy Economics unit (students choice) Managerial economics Faculty business elective Faculty business elective Open elective or second major Open elective or second major Open elective or second major Introduction to management Principles of accounting and nance Marketing theory and practice Commercial law Business statistics Macroeconomics Microeconomics Faculty business elective Bachelor of Economics Major in Economics First Year Semester 1 Semester 2 Second Year Semester 1 Semester 2 Third Year Semester 1 Semester 2 Economics unit (students choice) Faculty commerce or economics elective Economics unit (students choice) Faculty commerce or economics elective Open elective or second major Open elective or second major Open elective or second major Open elective or second major Intermediate microeconomics Intermediate macroeconomics Economics unit (students choice) Economics unit (students choice) Open elective or second major Open elective or second major Open elective or second major Open elective or second major Principles of microeconomics Principles of macroeconomics Business and economics statistics Data modelling and computing Open elective or second major Open elective or second major Open elective or second major Open elective or second major

Bachelor of Commerce Major in Economics First Year Semester 1 Semester 2 Second Year Semester 1 Semester 2 Third Year Semester 1 Semester 2 Economics unit (students choice) Economics unit (students choice) Faculty commerce elective Faculty commerce elective Open elective or second major Faculty commerce elective Open elective or second major Open elective or second major Intermediate microeconomics Intermediate microeconomics Economics unit (students choice) Economics unit (students choice) Open elective or second major Open elective or second major Open elective or second major Open elective or second major Principles of microeconomics Principles of macroeconomics Business and economic statistics Principles of marketing Business law Introduction to management Principles of accounting and nance Open elective or second major

Research strengths in economics

The Department of Economics is a research-intensive department, responsible for cutting-edge research across the eld of economics. Some our research areas include: Macroeconomics how international trade is inuenced by the characteristics of producers and households, economic growth, research and development (R&D), human capital, diseases, and nancial development. Environmental economics climate change, environmental regulation and compliance, biodiversity conservation, natural disasters, urban and rural water management, land use, ecosystem services, energy prices and demand, carbon markets and the relationship between energy consumption and GDP. Development Economics poverty, inequality and social protection, economic growth and sustainable development, micronance, active labour market policies, endogenous growth, and multidimensional poverty. Experimental/behavioural economics anti-social behaviour, auctions, bargaining, charitable giving, corruption, labour-market discrimination, team and organisation decision making, and trading in markets. You can nd more information on our research strengths at www.monash.edu/business-economics/eco

Please note: these course maps are samples only. The economics units can be selected from a list of available units in the discipline. Your electives/second major units can be selected from a wide list of majors/units offered by the Faculty, or you can choose to study additional economics units or a complementary second major such as accounting, nance or econometrics. A full list of undergraduate units offered by Monash is available at www.monash.edu/study
Students are advised that, while the course advisors will endeavour to give every possible assistance and advice concerning unit choice, the onus is on students to ensure that units selected meet degree regulations and requirements. Students should refer to the University Handbook for further information on course and unit details.