MEc

The Master of Economics provides advanced training in theoretical and applied aspects of modern economics, econometrics and financial economics. It is one of the largest programs of its type in Australia and a leading supplier of graduates to both the private and public sectors. In addition, this coursework program provides students with the necessary foundations in economics and econometrics to proceed to a PhD within Australia or abroad. The Master of Economics is offered jointly by the Disciplines of Economics, Operations Management and Econometrics, and Finance. There are two intakes per year for the Master of Economics, with classes commencing in March and July. Every effort is made to make this program accessible to part-time students.

To be awarded the Master of Economics, students must successfully complete a total of 12 units of study (72 credit points), comprising:

• three compulsory foundation units of study (18 credit points). (Students who wish to complete a major in Financial Economics must complete an additional foundation unit of study; that is, a total of four foundation units of study or 24 credit points)
• four compulsory units of study (24 credit points)
• At least one area of specialisation (one major), consisting of at least three units of study (18 credit points), from the subject areas of economics, econometrics and financial economics
• A second major (three units of study or 18 credit points) or elective units of study

Foundation units of study

• ECMT5001 Principles of Econometrics
• ECON5001 Microeconomic Theory
• ECON5002 Macroeconomic Theory

The following foundation unit of study is necessary for students who wish to study the major or elective units from the Financial Economics subject area:

• FINC5001 Capital Markets and Corporate Finance

Please note: Foundation units of study cannot be counted towards a major.

Compulsory units of study

• ECMT6002 Econometric Applications
• ECON6001 Microeconomic Analysis 1
• ECON6002 Macroeconomic Analysis 1
• ECON6003 Mathematical Methods of Economic Analysis

Please note: The compulsory units of study maybe counted towards majors, please refer to the particular major for further details of units of study available under these subject areas.

Subject areas for majors and electives

• Economics
• Econometrics
• Financial Economics

Credit for foundation units of study

Students who have completed studies in related areas may be eligible for credit from a foundation unit of study if it is considered that they have completed the equivalent of that unit previously. Students may be granted credit for up to four foundation units of study.(Please Note: Each unit of study for which credit is granted reduces the total number of units of study a student must complete by one.)

All students are automatically assessed for credit at the time of application for admission.

Master of Economics (generic program of study)

Students would normally complete all their required foundation units of study first (unless they have received credit for them), as foundation units of study are usually the prerequisites for particular majors and elective units of study. However, providing that specified prerequisites/corequisites for the relevant elective units of study are met, a student may take one or more compulsory or elective units of study in the first semester/s of study, and one or more foundation units of study in subsequent semesters of study.

Students who have received credit for foundation units of study would be able to study more advanced compulsory or elective units of study in their first semester/s of enrolment.

The following table shows an illustrative program of study for students enrolled in the Master of Economics on a full-time basis completing four units of study per semester (with no credit) beginning in Semester 1 of a year.

Please Note. The information listed in this program of study example is meant as a guide only. Students should always check the requirements for individual units of study. Students are usually able to complete the units of study for their degree in different sequences to that listed above. You are advised to plan their degree based upon your individual needs and to contact the Student Information Office if you need any assistance in planning your progression in your degree.

Degree Progression Examples

Please click on the links below to download some of the common major/unit of study combinations for the Master of Economics.

Please Note. The information listed in these program of study examples are meant as a guide only. Students should always check the requirements for individual units of study and majors.. Students are advised to plan their degree based upon their individual needs and to contact the Student Information Office if they need any assistance in planning their progression in their degree.

• Master of Economics with majors in Economics and Econometrics
• Master of Economics with majors in Economics and Financial Economics
• Master of Economics with majors in Econometrics and Financial Economics

For entry into this degree, students must have completed a bachelor’s degree, graduate diploma/certificate or equivalent from a recognised tertiary institution with a minimum credit (65 per cent) average.

For details of the English language requirements for entry into this course, please refer to the section headed English Language Requirements under the Admissions page on this website.

For details of course fees information please see the Postgraduate coursework fees page on this website.

Full-time:A typical full-time student will undertake three or four units of study per semester, completing the 12 units in three or four semesters (in 1.5 to two years).

Part-time:Students undertake one or two units per semester, typically completing the program in three to six years.

(Honours)

All students enrol in the Master of Economics. They obtain an Honours award if they meet the requirements for Honours as shown above. Students would normally complete all their required foundation units of study first (unless they have received credit for them). If the specified prerequisites/corequisites for the relevant units of study are met, a student may take one or more compulsory, major or elective units of study in the first semester/s of study. Once students have successfully met the entry requirements for honours units, they then complete two of the four honours units of study (listed above) and major/s and electives in any order depending upon prerequisite requirements.(See Entry requirements for details).

The following table illustrates a generic program of study for students enrolled in the Master of Economics (Honours) on a full-time basis completing four units of study per semester (with four core credits totalling 24 credit points from previous study) beginning in semester 1 of a year.

Please Note. The information listed in this program of study example is meant as a guide only. Students should always check the requirements for individual units of study. Students are usually able to complete the units of study for their degree in different sequences to that listed above. You are advised to plan their degree based upon your individual needs and to contact the Student Information Office if you need any assistance in planning your progression in your degree.

Entry requirements

Students must be admitted to the Master of Economics (with entry requirements shown under the Master of Economics). Students can enrol in any of the units that are required for an Honours award, if they have achieved a minimum Distinction (75 per cent) grade average in selected units of study as outlined below:

• For ECON6901 Microeconomic Analysis 2, students must have a Distinction grade for ECON6001 Microeconomic Analysis 1
• For ECON6902 Macroeconomic Analysis 2, students must have a Distinction grade for ECON6002 Macroeconomic Analysis 1
• For ECMT6901 Econometric Modelling students must have a Distinction grade average for ECMT5001 Principles of Econometrics and ECMT6002 Econometric Applications
• For FINC6005 Advanced Asset Pricing students must have completed FINC5001 Capital Markets and Corporate Finance or FINC6000 Quantitative Finance

Duration of course

Full-time: Students typically complete three or four units of study per semester, completing the 12 units in three to four semesters (1.5 to two years). Some units maybe available through Summer School, which may make it possible to complete the 12 units in 14 months.

Part-time: Students typically complete one or two units per semester, completing the program in three to six years.

and handbook

For more detailed course information, requirements and resolutions for this course in 2009, students should refer to the Faculty of Economics and Business Handbook.This handbook will be available from late September 2008.

Students who commenced their course prior to 2009, should refer to the handbook of the year they commenced their course.

The following is a list of the foundation and compulsory units of study from the Faculty of Economics and Business which are available for enrolment this year.

For details of the available elective units and requirements for majors, please refer to the subject areas for majors listed above and repeated below.

• Econometrics (Master of Economics)
• Economics (Master of Economics)
• Financial Economics (Master of Economics)