BACHELOR OF /BACHELOR OF LAWS (BEcon/LLB)

Program Requirements

The study of economics is central to an understanding of business, markets, , government policies and international issues, globalisation, health, development, and the environment. This program is for students intending to become and analysts in the public and private sectors and leads to careers in business, , international development, health, human resource , marketing, management and research.

The School of Economics is the State's largest, most experienced and influential economics school. Graduates are equipped to work on important policy and decision challenges in business and government. The program focuses on the resource allocation and decision making. Students can pursue individual and professional specialisations through a wide choice of courses. Study areas available include ; ; ; environmental and resource economics, financial markets; ; ; international trade and development; ; and .

Bachelor of Economics/Bachelor of Laws (BEcon/LLB)

A student is required to obtain #88 comprising -  #20 of compulsory courses from Group 1 of the BEcon List; and  #38 of compulsory courses from Part A of the LLB List; and  #4 from Group 2 of the BEcon List; and  #8 from Group 3 of the BEcon List; and  #18 of elective courses from Parts B and/or C of the LLB List.

Students who wish to satisfy the academic requirements for admission to the legal profession in Queensland MUST include LAWS5215, LAWS5216 and LAWS5217 as part of the #18 of elective courses for the LLB. It is not possible to complete a BEcon major in this dual program. Refer to the BEcon/LLB rules for further information.

2008 Program List for Bachelor of Economics Group 1 Compulsory ACCT1101 2 for Decision Making ECON1010 2 Introductory Microeconomics ECON1020 2 Introductory Macroeconomics ECON1310 2 Quantitative Economic & Business Analysis A ECON1320 2 Quantitative Economic & Business Analysis B ECON2010 2 Microeconomic Theory ECON2020 2 Macroeconomic Theory ECON2030 2 Microeconomic Policy ECON2040 2 Macroeconomic Policy ECON2300 2 Introductory Econometrics

Group 2 ECON1050 2 Introductory ECON1100 2 & Comparative Systems ECON1110 2 Australian Economic Institutions ECON1120 2 The Economics of Social Issues

Group 3 AGRC3027 2 Agricultural and Resource Policy ECON3010 2 Advanced Microeconomics ECON3020 2 Advanced Macroeconomics Faculty of Business, Economics & Law Undergraduate Handbook 2008 16 ECON3050 2 & Strategy ECON3060 2 ECON3200 2 ECON3210 2 Financial Markets & Institutions ECON3220 2 Benefit-Cost Analysis for Business ECON3300 2 Applied Econometrics ECON3310 2 Econometric Theory ECON3320 2 Statistical Theory for Economists ECON3400 2 Industrial Economics ECON3420 2 Economics of Information and Communication Technology ECON3430 2 ECON3440 2 Regulatory Economics ECON3450 2 Public Finance ECON3500 2 Economic Development ECON3510 2 International Trade Theory & Policy ECON3520 2 International Macroeconomics ECON3530 2 Asian-Pacific Economies: Policy Issues ECON3550 2 Economic Institutions and Global Banking ECON3600 2 Australian Economic History ECON3700 2 ECON3710 2 Economics of Natural Resources ECON3730 2 Economic Analysis of Law ECON3800 2 Human Resource Economics ECON3900 2 Special Unit

Group 4 ECON2050 2 Mathematical Economics ECON2060 2 Behavioural and ECON2100 2 of Economic Thought ECON2200 2 Management of Financial Institutions ECON2310 2 Statistical Theory for Economists ECON2320 2 Business & Economic Decision Techniques ECON2410 2 Economics of Business Strategy ECON2460 2 Health Economics ECON2500 2 China: Emergence, Implications & Challenges ECON2540 2 Economics of Innovation and Entrepreneurship ECON2600 2 Economic History of Asian Economies ECON2610 2 International Economy in the Twentieth Century ECON2800 2 The Economics of Labour Markets ECON2810 2 Industrial & Labour Relations ECON2830 2 Economics of Professional Sports MATH1040 1 2 Basic Mathematics

Group 5 Pre-2008 BEcon/LLB students only LAWS5122 2 Labour Law LAWS5125 2 Unjust Enrichment LAWS5127 2 Media and Communications Law LAWS5131 2 Planning Law LAWS5133 2 Natural Resources Law LAWS5134 2 Environmental Law LAWS5136 2 Commercial Law LAWS5138 2 Law LAWS5139 2 Insurance Law LAWS5144 2 Introduction to Taxation Law LAWS5145 2 Taxation Entities & Stamps LAWS5151 2 Law and Technology LAWS5163 2 International Trade Faculty of Business, Economics & Law Undergraduate Handbook 2008 17 LAWS5175 2 Advanced Constitutional Theory LAWS5188 2 Banking & Finance Law LAWS5206 2 Copyright Law LAWS5207 2 Patent & Trademark Law Group 6 Majors - Where definite instructions are given, students must follow those instructions when planning their major. Business and Industry Students must complete at least six courses from the following (of which three courses must be at level 3): ECON2060 2 Behavioural and Evolutionary Economics ECON2320 2 Business & Economic Decision Techniques ECON2410 2 Economics of Business Strategy ECON2540 2 Economics of Innovation and Entrepreneurship ECON2800 2 The Economics of Labour Markets ECON2810 2 Industrial & Labour Relations ECON3220 2 Benefit-Cost Analysis for Business ECON3400 2 Industrial Economics ECON3430 2 Managerial Economics ECON3440 2 Regulatory Economics ECON3800 2 Human Resource Economics

International Trade and Finance Students must complete at least six courses from the following (of which three courses must be at level 3): ECON2200 2 Management of Financial Institutions [ ECON2500 2 China: Emergence, Implications & Challenges [ or [ ECON2610 2 International Economy in the Twentieth Century ECON3200 2 Monetary Economics ECON3210 2 Financial Markets & Institutions ECON3510 2 International Trade Theory & Policy ECON3520 2 International Macroeconomics ECON3550 2 Economic Institutions and Global Banking FINM2401 2 Financial Management FINM3401 2 Corporate Finance FINM3403 2 International Financial Management

Natural Resources and Environment Students must complete at least six courses from the following (of which three courses must be at level 3): AGRC3024 2 Agricultural & Resource Markets AGRC3027 2 Agricultural and Resource Policy ECON2320 2 Business & Economic Decision Techniques ECON3220 2 Benefit-Cost Analysis for Business ECON3500 2 Economic Development ECON3700 2 Environmental Economics ECON3710 2 Economics of Natural Resources ENVM1512 2 Agricultural & ENVM3518 2 Environment and Development ENVM3523 2 Natural Resource Management

Quantitative Methods Students must complete at least six courses from the following (of which three courses must be at level 3): ECON2050 2 Mathematical Economics ECON2320 2 Business & Economic Decision Techniques ECON3050 2 Game Theory & Strategy ECON3060 2 Experimental Economics

Faculty of Business, Economics & Law Undergraduate Handbook 2008 18 ECON3220 2 Benefit-Cost Analysis for Business ECON3300 2 Applied Econometrics ECON3310 2 Econometric Theory ECON3320 2 Statistical Theory for Economists Note: ECON1050 is a prerequisite for ECON2050

Endnotes 1. MATH1040 is compulsory for students who have not satisfied the Mathematics B entry requirement and must not be studied by students who have satisfied the Mathematics B requirement.

Dual Programs Available with the Bachelor of Economics The following dual programs are available with the Bachelor of Economics. Program plans can be found on the myAdvisor website at http://www.uq.edu.au/myadvisor/dual-program-plans

Bachelor of Economics with …

Bachelor of Applied Science Bachelor of Arts Management Bachelor of Engineering Bachelor of Health Sciences Bachelor of Information Technology Bachelor of Laws Bachelor of Science

Please note: Students exiting early with one component of a dual degree must complete the single degree requirements of that component. Students will then be required to follow the single degree rules to complete the remaining component from that dual degree.

Faculty of Business, Economics & Law Undergraduate Handbook 2008 19 STUDY PLAN Bachelor of Economics/Bachelor of Laws - Dual Program Structure PROGRAM CODE: 2099 You can use this outline to plan your program structure. Total Total Courses Courses Units Units YEAR ONE YEAR ONE Semester 1 Semester 2 ECON1010 Intro Microeconomics 2 ECON1020 Intro Macroeconomics 2 LAWS1111 Legal Method 2 BEcon Group 2 course 2 LAWS1112 Law and Society 2 LAWS1114 Law of Torts B 2 LAWS1113 Law of Torts A 2 LAWS1115 Principles of Public Law 2 MATH1040 Basic Mathematics (2 units) YEAR TWO YEAR TWO Semester 1 Semester 2 ECON1310 Quantitative Economic & 2 ACCT1101 Accounting for Decision Making 2 Business Analysis A ECON1320 Quantitative Economic & 2 ECON2010 Microeconomic Theory 2 Business Analysis B BEcon Group 2 course 2 LAWS1116 Constitutional Law 2 LAWS2111 Law of Contract A 2 LAWS2112 Law of Contract B 2 YEAR THREE YEAR THREE Semester 1 Semester 2 ECON2020 Macroeconomic Theory 2 ECON2030 Microeconomic Policy 2 ECON2300 Introductory Econometrics 2 ECON2040 Macroeconomic Policy 2 LAWS2113 Criminal Law and Procedure A 2 ECON3xxx Group 3 2 LAWS2115 Administrative Law 2 LAWS2114 Criminal Law and Procedure B 2 YEAR FOUR YEAR FOUR Semester 1 Semester 2 ECON3xxx Group 3 2 ECON3xxx Group 3 2 ECON3xxx Group 3 2 LAWS3112 Law of Property B 2 LAWS3111 Law of Property A 2 LAWS3114 Law of Trusts B 2 LAWS3113 Law of Trusts A 2 LAWS5xxx Level 5 LAWS elective 2 YEAR FIVE YEAR FIVE Semester 1 Semester 2 LAWS4111 Jurisprudence 2 LAWS3115 Law of Remedies 2 LAWS4112 Corporate Law 2 LAWS4113 Structure of Private Law 2 LAWS5xxx Level 5 LAWS elective 2 LAWS5xxx Level 5 LAWS elective 2 [LAWS5xxx Level 5 LAWS elective [LAWS5xxx Level 5 LAWS elective [OR 2 [OR 2 [LAWS5215 Civil Procedure [ LAWS5216 Law of Evidence YEAR SIX YEAR SIX Semester 1 LAWS5xxx Level 5 LAWS elective 2 LAWS5xxx Level 5 LAWS elective 2 LAWS5xxx Level 5 LAWS elective 2 [LAWS5xxx Level 5 LAWS elective [OR 2 [LAWS5217 The Legal Profession Total #88

MATH1040 is a compulsory course for students who have not satisfied the Mathematics B entry requirement and must not be studied by students who have satisfied the Mathematics B requirement. Students who are required to take MATH1040 must move ECON1010 to a subsequent semester. MATH1040 will count as an ECON Group 2 Elective and may have implications for students who wish to complete a major. Please see your academic administration officer in the BEL Faculty if you have any queries. It is not possible to study more than #8 in semester one of year one.

It is not possible to complete a BEcon major in this dual program.

Faculty of Business, Economics & Law Undergraduate Handbook 2008 20 CAREER OPPORTUNITIES

Economics has been described as the ‘science of administration of scarce resources’. As scarce resources are a reality faced by both public and private organisations, critical thinking and the ability to assess economic impacts are skills vital for any entity engaged in economic activity. These skills are practical, readily adaptable and highly marketable. For this reason, demand for professionals with formal economics training is predicted to grow at a faster rate than for most other professions. In many cases, postgraduate students in economics are approached by employers and offered positions before they have completed their program.

Economists are employed across an expansive range of occupations and organisational environments, applying their extensive range of problem-solving techniques and analytical tools to an equally diverse range of complex issues. Some graduates pursue careers as professional economists, but for the most part, they are successful in developing careers in areas such as:

Public sector government departments and agencies (local, state and federal) in , finance or public accounting Private sector multinational corporations or local firms as economists or managers Financial institutions, stockbroking firms and merchant banks working as security, economic, investment and business analysts Public in the fields of transport, communications and power supply International organisations or agencies providing advice and expertise for economic development and infrastructure projects Specialist organisations such as industry associations, management consultancies, research and advertising organisations, and trade unions

Employment opportunities are often dependant upon the elective courses chosen within an economics program. As an example, graduates who possess an expertise in econometric and other quantitative techniques are often attractive to employers due to their knowledge of, and practical skill in, rigorous analysis and sophisticated information systems used in government and business decision-making. Government employers who are particularly interested in such graduates include State and Federal treasuries, Foreign Affairs and Trade, Australian Bureau of , Industry Commission and the Reserve Bank of Australia. Private sector employers have been mainly the larger companies, such as banks, oil and natural resource companies, manufacturers, insurance companies and consultancies.

A growing trend is for professionals trained in areas other than economics, such as engineering, accounting, management, marketing, public policy and planning, to enhance their career prospects by returning to study economics at the postgraduate level. Individuals and employers are recognising the significant skills that an economics qualification confers, and the synergy that exists across a wide variety of fields.

PRIZES AND SCHOLARSHIPS

The Archibald Scholarship To an Honours candidate on the basis of results in Advanced Microeconomics and Advanced Macroeconomics.

The Australian Finance Conference Prize in Economics For greatest proficiency in first attempt at Level 2 Macroeconomic Theory and Macroeconomic Policy.

The Economic Society Prize For greatest overall proficiency in third level Economics subjects.

John Wiley & Sons (Aust) Prize One prize each for highest achievement in Introductory Microeconomics and Introductory Macroeconomics each calendar year.

Faculty of Business, Economics & Law Undergraduate Handbook 2008 21 KPMG Consulting Prize First year student with the highest results in ECON1010 Introductory Microeconomics and ECON1020 Introductory Macroeconomics. The students may be enrolled in any program.

Queensland Competition Authority (QCA) Prize Highest averaged or combined GPA across the two courses, Regulatory Economics (ECON3440) and Advanced Microeconomics (ECON3010).

Queensland Competition Authority (QCA) Vacation Scholarships The Scholarships are open to students who will complete their second or third year of study by the end of 2006, majoring in economics and/or with advanced study in the microeconomic area.

School of Economics Jubilee Scholarship The Scholarship will be awarded annually on the recommendation of a school committee chaired by the Head on the basis of the applicant's academic record, personal qualities and financial need to a student without prior opportunity to study at an overseas institution.

HONOURS PROGRAM

The goal of the Economics Honours Program is to provide an extra year of high quality study to enhance students’ applied and analytical skills and knowledge of current economic research literature and to provide training in research methods in economics. New candidates should refer course queries to either the academic or administrative officer within the School.

Generally an honours graduate has better long-term career prospects. As the honours program does not commence until the pass degree is completed, there is plenty of time to consider whether or not to enrol for the honours program. However, there are specified courses in the pass degree that are required as prerequisites for honours enrolment.

A good standard at Pass level (a Grade Point Average of at least 5) is required with an average grade of at least 5 over the specified prerequisite courses. An information meeting for prospective candidates is scheduled in August each year; this meeting is advertised in Level 3 classes and on School noticeboards.

As an Honours student, you will find yourself in a stimulating environment. The course matter will be interesting and challenging, and in addition you will have the benefit of small classes and an informal class atmosphere, the challenge of frequent preparation of seminar papers, and the give and take of discussion with fellow students and staff members. You will find that the standard of discussion in Honours classes is generally much higher than in pass degree tutorials. You will get to know your fellow students and your lecturers in a way that is usually not possible in pass degree classes. The other aspect of the Honours work that distinguishes it from the pass degree is the thesis. The School includes the thesis requirement in order to give the Honours student some experience and training in carrying out a small research project under supervision and to provide an indication of his or her capacity for research.

Bachelor programs with honours in Economics are available following both the Bachelor of Economics and the Bachelor of Arts. The postgraduate Bachelor of Economics Honours program is available in the fields of Economics and Econometrics. In the Faculty of Arts, honours programs are available in the field of Economics. In both cases there is provision for deferral of studies for a maximum of 2 years between completion of the Pass Degree and enrolment in Honours. Further details can be obtained from the School of Economics.

Honours program plans

For BA and BEcon students in the field of Economics: Students intending to take Honours in the field of Economics must include the following courses in their pass degree program:

Faculty of Business, Economics & Law Undergraduate Handbook 2008 22 ECON1050 Introductory Mathematical Economics ECON3010 Advanced Microeconomics ECON3020 Advanced Macroeconomics

Economics A student is required to obtain #16 comprising - #12 for - [ ECON3300 2 Applied Econometrics [ or [ ECON7360 2 Applied Econometrics ECON6010 2 Microeconomics A ECON6020 2 Macroeconomics A ECON6910 6 Honours Thesis

and #4 electives from - ECON6030 2 Microeconomics B ECON6040 2 Macroeconomics B ECON6200 2 Advanced Monetary Economics ECON6300 2 Advanced Applied Econometrics ECON6310 2 Advanced Econometric Theory ECON6340 2 Inter-Industry Economic Modelling ECON6420 2 ECON6500 2 Economic Development ECON6510 2 ECON6600 2 Economic History ECON6700 2 Ecological & Environmental Economics ECON6710 2 Natural Resource Economics ECON6900 2 Special Unit May include #2 levels 6 or 7 courses approved by the Head of School.

For students in the field of Econometrics: Students intending to take Honours in the field of Econometrics must include the following courses in their pass degree program:

ECON2050 Mathematical Economics ECON3010 Advanced Microeconomics ECON3020 Advanced Macroeconomics ECON3300 Topics in Applied Econometrics ECON3310 Econometric Theory ECON3320 Economic and Business Statistics (this course was formerly ECON2310)

Econometrics A student is required to obtain #16 comprising - #14 for - ECON6010 2 Microeconomics A ECON6020 2 Macroeconomics A ECON6300 2 Advanced Applied Econometrics ECON6310 2 Advanced Econometric Theory ECON6910 6 Honours Thesis

and #2 electives from - ECON6030 2 Microeconomics B ECON6040 2 Macroeconomics B ECON6200 2 Advanced Monetary Economics ECON6340 2 Inter-Industry Economic Modelling ECON6400 2 Inter-Industry Economic Modelling ECON6410 2 Inter-Industry Economic Modelling ECON6420 2 Public Economics ECON6500 2 Economic Development

Faculty of Business, Economics & Law Undergraduate Handbook 2008 23 ECON6510 2 International Economics ECON6600 2 Economic History ECON6700 2 Ecological & Environmental Economics ECON6710 2 Natural Resource Economics ECON6900 2 Special Unit May include #2 levels 6 or 7 courses approved by the Head of School.

An application in writing must be made to Head of School to undertake any course other than ECON Level 6 courses. Please see the Administrative Officer for Approval Request Form before enrolling in any such course.

For BA Honours students: Students intending to take BA Honours (Economics) must have passed at least #8 units from: ECON1110 Australian Economic Institutions ECON1600 Economic & Social History ECON2600 Economic History of Asian Economics ECON2610 International Economy in the Twentieth Century ECON3600 Australian Economic History and obtained a GPA of 5 or higher in ECON courses. Candidates with a Bachelor of Arts must also hold at least a single major in Economics.

Program plans for BA Honours (Economics) are available from the Honours Coordinator or on the School of Economics Website: http://www.uq.edu.au.

POSTGRADUATE PROGRAMS

The School of Economics offers a number of postgraduate programs designed to give students an opportunity to enter graduate study following undergraduate qualifications in any field including Economics. Students with undergraduate qualifications in Economics should receive exemptions from equivalent courses. The following postgraduate programs are available:

Research Programs  PhD Program  MPhil Program

Coursework Programs  Graduate Certificate in Economics  Graduate Certificate in Health Economics  Graduate Diploma in Economics  Graduate Diploma in Health Economics  Master of International Economics and Finance  Master of International Economics and Finance (Advanced)  Master of Business Economics  Master of Business Economics (Advanced)   Master of Health Economics  Master of Health Economics (Advanced)

Faculty of Business, Economics & Law Undergraduate Handbook 2008 24 CONTACT DETAILS

Undergraduate Advising Honours and Postgraduate Advising

Faculty of Business, Economics and Law School of Economics The of Queensland Room 659, Level 6, Colin Clark Building (39) Level 3, General Purpose North (39A) Blair Drive Brisbane Qld 4072 The Australia Brisbane QLD 4072 Australia Tel: +61 7 3365 9017 or 3365 9019 Tel: + 61 7 3365 6570 Fax: +61 7 3365 4788 Fax: + 61 7 3365 7299 Email: [email protected] Email: [email protected] www.bel.uq.edu.au www.uq.edu.au/economics

Faculty of Business, Economics & Law Undergraduate Handbook 2008 25