Economics

Studying economics at La Trobe University

Economics is an exciting and relevant area of study that focuses on how individuals, households and societies make decisions in a world where there are competing calls on scarce resources. In essence, economics studies the production, distribution, and consumption of goods and services. By studying Economics you will learn about and understand vital features of modern society, such as interest rates, taxation, labour relations, gross national product, inflation, unemployment and economic growth.

The Bachelor of Economics provides students with highly-sought-after skills that allow them to analyse, understand and solve a wide range of everyday business and public policy problems. Students receive broad training in core areas of Economics, including: microeconomics, macroeconomics, quantitative analysis, economic history, as well as various applications of Economics to particular areas and policy issues. Students also have the option of choosing electives in the areas of Finance, Management and Accounting.

Undergraduate specialisations in Economics

Business Economics

The Business economics major develops an understanding of how fundamental economic principles can be applied to specific problems and opportunities facing businesses, including: globalisation, deregulation, innovation and financial instability. Understanding these phenomena, and having the tools to make decisions based on this understanding, is invaluable for economic management.

Business Models and Forecasting

The Business models and forecasting specialisation focuses on econometric and simulation models of businesses. These models allow analysts to study and assess the future facing individual companies and the clients of government departments. The econometric units cover quantitative research and forecasting methods in economics and business, and cover topics such as regression, time series analysis, applied econometrics and forecasting issues.

International Trade and Finance

Currently, Australias trade with other countries comprises approximately 40% of Gross Domestic Product (GDP) and is growing. In other countries, this figure is even higher. At the heart of international finance and trade is the use of foreign exchange of which the total worldwide volume traded has grown by an incredible rate of over 20% per annum in recent years. The International Trade and Finance major develops in students an awareness and understanding of both the nature and pattern of international trade.

Macroeconomic Analysis and Policy

Macroeconomic analysis and policy deals with how the overall economy works and performs. It is the economics we see in news headlines economic growth, unemployment, and inflation, exchange rates and capital flows, as well as the current account deficit and stock market performance. All of these are macroeconomic variables and are integral components to determining our living standards. Election results hinge on these issues, meaning that politicians (and bureaucrats) monitor them closely and sometimes try to influence them.

Microeconomic Analysis and Policy

The Microeconomic analysis and policy specialisation features a suite of units that cover the main applications of economic theory to the behaviour of individuals, households and firms. These applications are of great practical interest to policy makers and businesses. The microeconomics of trade policy, competition policy, industrial organisation, taxation and government spending, amongst other issues, are all covered in electives. The laws and institutions involved in implementing these policies are also covered. Finally, cost-benefit analysis (the standard methodology for project analysis in both the public and private sectors) is covered.

Resource and Environmental Economics

The resource and environmental economics specialisation aims to provide students with powerful tools to analyse and help solve the many environmental problems confronting society. These tools have much to offer in diagnosing resource and environmental problems, and in helping to formulate policy for dealing with them. Issues explored include: global warming and the difficulties of attaining international agreement to reduce greenhouse emissions; the loss of species diversity to agriculture, plantation forests and industrial expansion; the sustainable management of biological resources such as fish and forestry stocks; and the process of switching from reliance on fossil fuels for energy to renewable energy resources such as solar power.

Bachelor of Economics double degrees

A number of double degrees have been announced for 2009. These degrees allow you to combine a range of specialisations which will strengthen the scope and career opportunities of your final degree.

Career opportunities

The strength of an Economics training is that it gives students great flexibility in their career choice. Depending on a students area of specialisation, careers for economic graduates can range from consultancy work right through to foreign exchange dealing, investment banking, corporate management and government.

Course information - single degree

These courses are offered at the following campuses: Melbourne (Bundoora)

Course information - double degrees

How to apply

Local students apply to this course through VTAC. Mid-Year Entry is by direct application to the Faculty of Law and Management.

Information for international students

The following section helps assist international applicants in locating the course information and required application procedures.

International student course information

Double degrees

International student application information

International students should visit our international students' page for conditions of entry, eligibility and fee information.