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Honours in Applied Economics (ECON4021)

Why study Honours in Economics?

Studying economics at any level provides students with a better understanding of economic activity and outcomes. Apart from simple intellectual curiosity, a better understanding can lead to better outcomes for the individual as a participant in the economic system. Moreover, by providing a framework for analysing the efficiency and specific inefficiencies in various institutional and social arrangements, the insights gleaned from economic analyses can help guide and formulate public policy.

With the rapid expansion in economic knowledge and the increasing sophistication of the analytical techniques employed in economics, an honours year specialisation in economics enables students to achieve competency in a wide range of skills. Employers in both the public and private sectors expect high calibre graduates to possess these skills. Honours graduates attract higher initial salaries and experience more rapid career advancement and varied career opportunities.

The School of Economics at the ANU has a proud history as one of the leading Australian Schools for both teaching and research in economics. The School provides the backbone of economics courses at honours and postgraduate levels at the ANU. In cooperation with economists located in the Institute of Advanced Studies, it is a focus for the highest level of economic research activity and training available in Australia.

Why study Applied Economics?

The honours program in applied economics is designed to enhance the core body of economic analysis covered in the pass degree program, supplementing it with an introduction to the theory and application of econometric techniques.  It also provides a bridge to the Master of Economics program.  Provided students obtain a first (>80%) or 2A (70-79%) honours degree they are eligible, along with students with the same grades from other Australian university honours programs, to enrol in the Masters program or PhD.

Admission Requirements

Admission is by invitation only.  Potential honours candidates should make themselves known to the Honours Coordinator during their third year.  Generally, applicants from the ANU should have satisfied the requirements for the Bachelor of Economics pass degree at the ANU with a Credit or higher grade in both:

• ECON3101 Microeconomics 3,
• ECON3102 Macroeconomics 3,

Applications from students at other universities are welcomed. Applicants should have achieved an equivalent standard of performance in economics in their degree program.

Course Structure

The Applied Economics program can be taken full time over one year or part time over two years.  The program comprises eight semester-length courses:

Semester 1

• Microeconomics (ECON8025)
• Mathematical Techniques in Economics 1 (ECON8013)
• Economic Models and Introductory Econometrics (EMET8005)
• Elective Course

Semester 2

• Macroeconomics (ECON8026)
• Applied Econometric Models (EMET8001)
• Elective Course
• Research essay on an applied economics topic

Elective courses are chosen from the ECON8xxx series courses offered by the School of Economics, subject to the approval of the Honours program convenor.  Students do not actually enrol in the courses listed above but enrol in the main Honours subject ECON4021 and then participate in the graduate level classes.

Further information can be obtained from the School of Economics or by email:

Email: honours.economics@anu.edu.au