B5007 Graduate Diploma of Economic Analytics
Faculty of Business and Economics
Graduate Diploma of Economic Analytics (B5007) is a 1 years full-time, 48-credit-point, graduate diploma course from the Faculty of Business and Economics, taught at Caulfield. Map your units semester by semester with the MonMap planner.
- Credit points
- 48
- Duration
- 1 years full time
- 2 years part time
- Campus
- Caulfield
- On campus
This is the 2026 handbook entry. See the 2027 entry.
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Requisite map
Overview
The Graduate Diploma of Economic Analytics can be completed in just one year and provides advanced knowledge of economic policy, data-driven economic decision making, forecasting and econometrics. It will enable you to upskill and deepen your understanding of economic analytics to launch or advance your career in this growing area.
You’ll complete eight units, with the course structured in two parts. Part A will introduce you to economics and econometrics at an advanced undergraduate and graduate level, which is perfect if you are new to the field. You’ll cover foundation units in macroeconomics policy, managerial economics, introductory econometrics and mathematics for business.
If you have relevant academic qualifications you will only need to complete Part B, meaning that you can complete the course in just six months. Part B delves deeper into the application of economic analytics, combining theory with practice. You will gain insights in data visualisation and data analysis, cost benefit analysis and economic decision making, as well as the application of microeconomics and industry economics, econometrics and business forecasting. You will also be able to take part in in-class coding labs.
As part of this course you will be studying master’s level units, which will count towards a Master’s level qualification should you want to expand your knowledge further in the future.
Course structure
Part A. Advanced preparatory studies24 credit points
Part B. Core studies6 credit points
Part C. Discipline studies18 credit points
- two units (12 credit points) from the following and;
- one unit (6 credit points) from the specified discipline electives
Note: You can complete either ECF5410 or ECX5400 to count towards your 12 credit points.
- ECF5040Industry economicsNo reviews yet6 cp
- ECF5410Applied microeconomicsNo reviews yet6 cp
- ECX5400Design and evaluation of economic, public, and social programsNo reviews yet6 cp
- ECF5421Applied macroeconomicsNo reviews yet6 cp
- ECF5560Cost benefit analysis and economic decision makingNo reviews yet6 cp
- ECX5479Empirical strategies for policy evaluationNo reviews yet6 cp
Specified discipline electives
6 credit pointsThe handbook's description of this structure
This course is structured in three parts Part A. Advanced preparatory studies and Part B. Core studies and Part C. Discipline studies
Part A. Advanced preparatory studies
These studies will introduce you to economics and econometrics at advanced undergraduate and graduate level, and are intended for students whose previous qualification is not in a cognate field.
Part B. Core studies
The core studies will develop your skills in data preparation, visualisation, problem-solving, and communicating insights using real-world data.
Part C. Discipline studies
These studies will develop your capacity as a critical and creative professional who is able to apply your knowledge of a specialised area to provide discipline based solutions.
Entry points
Depending on prior qualifications you may receive entry level credit (a form of block credit) which determines your point of entry to the course:
- If you are admitted at entry level 1 you complete 48 credit points, comprising Parts A, B and C
- If you are admitted at entry level 2 you complete 24 credit points, comprising Parts B and C
Note: If you are eligible for credit for prior studies you may elect not to receive the credit and complete one of the higher credit-point options.
Course progression map
The course progression map provides guidance on unit enrolment for each semester of study.
This course comprises 48 credit points structured in three parts: Part A. Advanced preparatory studies (24 credit points) and Part B. Core studies (6 credit points) and Part C. Discipline studies (24 credit points).
Part A. Advanced preparatory studies (24 credit points)
You must complete the following four units (24 credit points) :
- ECF5923 Macroeconomics policy
- ECF5927 Managerial economics
- ETF5910 Introductory applied econometrics
- ETF5970 Mathematics for business
Part B. Core studies (6 credit points)
You must complete one of the following units (6 credit points):
- ETF5922 Data visualisation and communication
- ETC5510 Introduction to data analysis
Part C. Discipline studies (18 credit points)
You must complete two units from the following (12 credit points):
- ECF5040 Industry economics
- ECF5410 Applied microeconomics or ECX5400 Design and evaluation of economic, public and social programs
- ECF5421 Applied macroeconomics
- ECF5560 Cost benefit analysis and economic decision making
- ECX5479 Empirical strategies for policy evaluation
You must complete one unit from the following (6 credit points):
- ETF5320 Applied econometrics
- ETF5231 Business forecasting
- ETC5341 Applied econometrics
Learning outcomes
These course outcomes are aligned with the Australian Qualifications Framework and Monash Graduate Attributes.
Upon successful completion of this course it is expected that you will be able to:
- 1
be a critical and creative scholar who:
- produce innovative solutions to problems
- apply research skills to business challenges
- communicate effectively and perceptively
- 2
be responsible and effective global citizens who:
- engage in an international world
- exhibit cross-cultural competence
- demonstrate ethical values
- 3
demonstrate functional knowledge of economics and econometrics in order to progress towards professional careers in private, public or institutional sector as economists or consultants
- 4
be able to provide data-based decision-making relevant to the business, professional and public policy communities we serve
Entry requirements
English language
Monash Level A, that is: IELTS (Academic): 6.5 overall (no band lower than 6.0); or Pearson Test of English (Academic): score of 58 overall with no band lower than 50; or TOEFL Internet-based test: score of 79 overall with minimum scores: Writing: 21, Listening: 12, Reading: 13 and Speaking: 18; or Equivalent approved English test
More information
Progression to further studies
Successful completion of this course may provide a pathway to the Master of Economics (B6030) or another Master course in the Faculty of Business and Economics subject to satisfying the appropriate entry requirements.
Other information
The Graduate Diploma of Economic Analytics can be completed in just one year and provides advanced knowledge of economic policy, data-driven economic decision making, forecasting and econometrics. It will enable you to upskill and deepen your understanding of economic analytics to launch or advance your career in this growing area.
You’ll complete eight units, with the course structured in three parts. Part A will introduce you to economics and econometrics at an advanced undergraduate and graduate level, which is perfect if you are new to the field. You’ll cover foundation units in macroeconomics policy, managerial economics, introductory econometrics and mathematics for business.
If you have relevant academic qualifications you will only need to complete Part B and Part C, meaning that you can complete the course in just six months. Part B and Part C delves deeper into the application of economic analytics, combining theory with practice. You will gain insights in data visualisation and data analysis, cost benefit analysis and economic decision making, as well as the application of microeconomics and industry economics, econometrics and business forecasting. You will also be able to take part in in-class coding labs.
As part of this course you will be studying master’s level units, which will count towards a Master’s level qualification should you want to expand your knowledge further in the future.
Common questions
How long is Graduate Diploma of Economic Analytics ?
1 years full time, 48 credit points. At 24 credit points a semester, that is 2 semesters of full-time study.
Where can I study Graduate Diploma of Economic Analytics ?
At Caulfield.
How do I plan my Graduate Diploma of Economic Analytics units?
Open the course in the MonMap planner. It lays out your semesters, checks prerequisites as you drag units in, and tracks the credit points each requirement still needs.