Economics

Why is something as superfluous as diamonds so costly, but something as essential as water so cheap? How can the cost of the coffee beans make up only a few cents of the price of a cup of coffee? With the world' highest minimum wage rate, can Australia ever compete with low wage countries?The ANU Bachelor of Economics provides a framework and a way of thinking to help answer questions like these. Your coursework will span economics (both theory and applied), economic history, and econometrics while developing your analytical problem-solving and quantitative skills.Whether working as an economist or in some other role, your Bachelor of Economics degree and training will be sought after.

Career Options

Employment Opportunities

Economics provides a foundation for careers in:

• Public policy
• International development
•  Business and management
• Government and politics 
• Law
• Finance and insurance
• Teaching and education
• Marketing and tourism 

Examples of job titles in economics:

• Government Departments

Australian and overseas governments provide many career paths for economists.  Departments like Finance, Treasury, the Australian Bureau of Statistics, the Productivity Commission and the Australian Bureau of Agriculture and Resource Economics recruit heavily from the ANU.  Economists are also much in demand in other government departments dealing with issues such as Trade, Education, Employment and Social Security.  

• Business and Management 

Firms recruit economists because their advice is vital to businesses in understanding their business environment, how competitors react, and how changes in things such as interest rates, oil prices, exchange rates and consumer demand are likely to affect the business.  Consultancy and accounting firms employ economists to advise their clients which include both private firms and governments.

• International Agencies

International agencies such as the World Bank, the International Monetary Fund and Oxfam recruit economists to advise them on the effects of policy changes, financial crises and conflicts in one part of the global economy on another, as they are transmitted through trade and financial flows.  Economists advise on trade policy and macroeconomic policy coordination.

• Resource and Environmental Economist 

Economists are employed to study natural resource use and environmental problems and their relationship to economic behaviour.  Employers include mining firms and regulatory agencies.  Economists contribute to the better management of natural resources and improving the global environment.

• Schools and Universities

There is a thriving national and international market for academic economists in High Schools / Colleges and Universities. 

• Finance and Banking

Financial institutions including Banks, and in particular the Reserve Bank of Australia, actively recruit economists to advise them on the state of the economy and on risks from factors such as interest rate changes and exchange rate movements.

Learning Outcomes

Students who successfully complete this degree are trained: 

• to solve economic problems using analytical reasoning; 
•  apply economic analysis to a wide variety of economic issues;  
• use basic empirical estimation techniques to test economic predictions;  
• provide insight into the way that households and individuals make decisions and interact, and the role of government in providing public goods and regulating the market sector;  
• learn how to communicate rigorous economic analysis in a coherent way

The Bachelor of Economics requires completion of 144 units, of which a maximum of 60 units may come from completion of 1000-level courses

The 144 units must include:

• 36 units from completion of the following compulsory courses

ECON1101 Microeconomics 1

ECON3101 Microeconomics 3

ECON3102 Macroeconomics 3

EMET1001 Foundations of Economic and Financial Models

EMET2007 Econometrics 1: Econometric Methods

STAT1008 Quantitative Research Methods

• 6 units from completion of a course from the following list:

ECON1100 Economics 1 (H)

ECON1102 Macroeconomics 1

• 6 units from completion of a course from the following list:

ECON2101 Microeconomics 2 (P)

ECON2111 Microeconomics 2 (H)

• 6 units from completion of a course from the following list:

ECON2102 Macroeconomics 2 (P)

ECON2112 Macroeconomics 2 (H)

• 6 units from completion of a course from the following list:

ECHI1006 The Australian Economy: Past and Present

ECON2013 Behavioural Economics: Psychology and Economics

ECON2014 Managerial Economics

ECON2026 Money and Banking

ECON2091 The Economy, Politics and the State

ECON2120 Law and Economics(P)

ECON2139 Law and Economics(H)

ECON2141 Strategic Thinking: An Introduction to Game Theory (P)

ECON2900 Development Poverty and Famine(P)

ECON2901 Development Poverty and Famine(H)

• 18 units from completion of courses on List 1 of the ANU College of Business and Economics
• 18 units from completion of courses on List 2 of the ANU College of Business and Economics
• 48 units from completion of elective courses 

Admission to all programs is on a competitive basis. Admission to undergraduate degrees is based on meeting the ATAR requirement or an equivalent rank derived from the following qualifications:

• An Australian year 12 qualification or international equivalent; OR
• A completed Associate Diploma, Associate Degree, AQF Diploma, Diploma, AQF Advanced Diploma or Graduate Certificate; OR
• At least one standard full-time year (1.0 FTE) in a single program of degree level study at an Australian higher education institution; OR
• An approved tertiary preparation course unless subsequent study is undertaken.

Requirements for domestic applicants:

ATAR:86

QLD Band:8

International Baccalaureate:32

For international students:

Refer to the table to see if you meet the requirements:

http://www.anu.edu.au/files/resource/IntAdmissTabl2014e.pdf 

English Language Requirements:

ANU recognizes a number of English language tests as meeting the University’s English language requirements. The acceptable tests are IELTS (an overall score of 6.5 with at least 6 in each component of the test), TOEFL-paper based test (a score of 570), TOEFL-internet based test (a score of 80, with a minimum of 20 in Reading and Writing and 18 in Speaking and Listening), Cambridge CAE Advanced (80, grade A), PTE Academic (overall 64, minimum 55 in each section

ANU offers a wide range of scholarships to current and future students to assist with the cost of their studies. The University is committed to enabling all students, regardless of their background, to achieve their best at ANU and realise their potential. 

Eligibility for ANU scholarships varies depending on the specifics of the scholarship and can be categorised by the type of student you are.  Specific scholarship application process information is included in the relevant scholarship listing.

Alongside the courses in the economics degree, an Honours stream is offered commencing in second semester of first year. This stream is designed for (but not exclusive to) students whose performance in economics is at credit level or better. It aims to provide students with a deeper understanding of economic analysis and to impart greater confidence and capacity in addressing economic issues. Participation in the Honours stream is important for students who may wish to work as professional economists or who want to go on to further study of economics at the fourth year or at graduate level. The Honours stream involves an additional lecture and tutorial per week, plus an additional examination each semester. Students are able to enter, or leave, the Honours stream at any stage during the degree.

After the standard three-year program, students can undertake Honours as a fourth year of study in Applied Economics, Economics, Econometrics or Economic History. Entry is by invitation to high achieving students. Anyone with high grades in three-year economics undergraduate degrees at other universities may also be eligible to enter the Honours year.