B6030 Master of Economics

The course is structured in three parts. Part A. Advanced preparatory, Part B. Mastery knowledge and Part C. Application studies. 

Part A. Advanced preparatory   

These studies will introduce you to economics at advanced undergraduate and graduate level, and are intended for students whose previous qualification is not in a cognate field.  

Part B. Mastery knowledge   

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. 

Part C. Application studies   

These studies will enable you to further develop your knowledge of your specialisation, or more broadly, select any units from across the university in which you are eligible to enrol. You can also use these studies to select elective units that provide a research pathway towards a Doctor of Philosophy course.

Master's 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 must complete 96 credit points, comprising Part A, Part B and Part C
• If you are admitted at entry level 2 you must complete 72 credit points, comprising Part B and Part C
• If you are admitted at entry level 3 you must complete 48 credit points, comprising Part B.

Note: Students eligible for credit for prior studies may elect not to receive the credit and complete one of the higher credit-point options.

Research option

The research option in Part B of the Master of Economics is available by application only. If you entered the Master of Economics at entry level 1 or entry level 2 you must have a distinction grade (70%) average in your first year. You will only be able to undertake this pathway if you commenced your course as a full-time student due to the availability of units and progression requirements.

Course progression map

The course progression map provides guidance on unit enrolment for each semester of study.

The course comprises 96 credit points structured in three parts: Part A. Advanced preparatory (24 credit points), Part B. Mastery knowledge (48 credit points) and Part C. Application studies (24 credit points). 

Units are 6 credit points unless otherwise stated.   

Part A. Advanced preparatory (24 credit points)  

You must complete:

• ETF2700 Mathematics for business or ETC2440 Mathematics for economics and business 
• ECF5923 Macroeconomic policy or ECC5901 Macroeconomics
• ECF5927 Managerial economics or ECC5900 Microeconomics
• ETF5910 Introductory applied econometrics or ETC2410 Introductory econometrics

Part B. Mastery knowledge (48 credit points) 

You must complete either a coursework or research option.

Coursework option

You must complete:

a. The following three units (24 credit points):

• ECF5410 Applied microeconomics*
• ECF5421 Applied macroeconomics*
• ECF5060 Applied economics research and consulting (12 credit points)

* If you intend to progress to a PhD pathway, you must complete ECC5650 Microeconomic theory, and ECC5660 Macroeconomic theory upon written permission from the Course Director to enrol in these units.

b. One unit from the following units (6 credit points):

• ECX5479 Empirical strategies for policy evaluation
• ETC5341 Applied econometrics
• ETF5320 Applied econometrics

c. Three units (18 credit points) chosen from any of the following lists:

General

• ECF5200 Game theory and business strategy 
• ECX5470 Competition, regulation and policy
• ECF5040 Industry economics 
• ECX5520 Economics of global investment decisions
• ECF5560 Cost-benefit analysis and economic decision making 
• ECC5740 Economics of financial decision making 
• ECF5590 Poverty, equality and opportunity
• ECX5690 International trade
• ECX5640 Economics of climate change
• ECC5871 Political economy - Institutions, order, and evidence 
• ECX5810 Public economics 

Development

• ECF5590 Poverty, inequality and opportunity 
• ECF5580 Macroeconomic theory and policy for developing countries 
• ECF5570 Field experiments for social and public policy 
• ECX5001 Economics of environment and sustainability 
• ECX5890 Economic development
• ECC5511 Economic growth: causes and consequences
• ECC5670 Economics of developing countries
• ECC5801 Prosperity, poverty and sustainability in a globalised world

Policy

•  
• ECC5871 Political economics: Institutions, order and evidence 
• ECF5040 Industry economics 
• ECF5560 Cost benefit analysis and economic decision making 
• ECF5590 Poverty, inequality and opportunity
• ECX5001 Economics of environment and sustainability 
• ECX5470 Competition, regulation and policy 
• ECX5520 Economics of global investment decisions
• ECX5810 Public economics 

Quantitative

• ECX5479 - Empirical strategies for policy evaluation
• ECX5520 Economics of global investment decisions
• ECF5560 Cost benefit analysis and economic decision making 
• ETF5231 Business forecasting
• ETF5500 High dimensional data analysis
• ETF5922 Data visualisation and analytics
• ETC5420 Microeconometrics 

Or

Research option

Note: The research pathway is a specially tailored program for students intending to complete a Ph.D. in economics. Enrolment in research pathway units should be approved by the Masters Course Director.

a. You must complete the following four units (24 credit points):

• ECC5581 Economics research project S1
• ECC5582 Economics research project S2
• ECC5650 Microeconomic theory
• ECC5660 Macroeconomic theory

b. You must complete one unit (6 credit points) from the following:

• ECX5479 Empirical strategies for policy evaluation
• ETC5341 Applied econometrics
• ETF5320 Applied econometrics
• ETX5441 Macroeconometrics

c. You must complete three units (18 credit points) from the following:

Note: Selection of units not specified below is to be determined in consultation with and approval of the Course Director.

• ECC5010 Special topics in advanced economics
• ECC5740 Economics of financial decision making
• ECX5470 Competition, regulation and policy
• ECF5040 Industry economics
• ECF5200 Game theory and business strategy
• ECF5560 Cost benefit analysis and economic decision making
• ECF5570 Field experiments for social and public policy
• ECF5580 Macroeconomic theory and policy for developing countries
• ECF5590 Poverty, inequality and opportunity
• ECX5484 Industrial organisation
• ECX5690 International trade
• ECX5810 Public economics
• ECX5890 Economic development

Part C. Application studies (24 credit points) 

You must complete:

four units (24 credit points) at either level 4 or 5

Elective units may be chosen from the Faculty of Business and Economics or across the University as long as you have the prerequisites and there are no restrictions on admission to the units.

You can enrich your degree by honing your academic and professional skills through the Monash Innovation Guarantee (MIG). The MIG is your unique opportunity to collaborate with renowned industry leaders and design innovative solutions that result in real social change. MIG will give you the leadership skills you will need to adapt and thrive in a rapidly changing world and is your chance to make connections before you graduate. The MIG unit may be credited in place of a free elective as a 6 credit point unit option. For information on eligibility please see FREE.