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Specialisation: Economics

Award(s) to which this specialisation belongs:
 

Economics

ECO19MSV1

Department:
Department of Economics
Faculty:
Faculty of Business and Economics

Admission Requirements:
Admission to Master of Commerce
Study Mode:
Full-time, Part-time
Attendance Mode:
Internal
Commencement:
North Ryde — Session 1 (February)
North Ryde — Session 2 (July)

600 level

Recommended
4
Intermediate Microeconomics (4)
 
Recommended
4
Intermediate Macroeconomics (4)
 
Recommended
4
Econometrics and Business Statistics (4)
 
Recommended
4cp from
 
Principles of Accounting (4)
 
 
Intermediate Financial Accounting (4)
 
 
Intermediate Managerial Accounting (4)
 
 
Company Law (4)
 
 
Principles of Finance (4)
 
 
Work, Organisation and Management (4)
 
4
Introduction to Marketing Management (4)
 

This specialisation must be completed as part of an award. The general requirements for the award must be satisfied in order to graduate.

Requirements for the Specialisation:

Completion of a minimum of 20 credit points including the following prescribed units:

Credit points

800 level

Required
4
Applied Microeconomic Topics (4)
 
Required
4
Applied Macroeconomic Topics (4)
 
Required
4
Research in Economics (4)
 
Required
8cp from
8
ECON units at 800 or 900 level

TOTAL CREDIT POINTS REQUIRED TO SATISFY THIS SPECIALISATION

20
Overview and Aims of the Program The Master of Commerce degree delivers a flexible, career-oriented and relevant postgraduate business education in a range of disciplines. It is highly practical, designed to meet employer needs and provides graduates with the capabilities for careers in the professions.
Key features:
o offers breadth or depth of knowledge - develop your knowledge across a broad area of business and commerce, or elect to complete one or two specialisations to develop depth of knowledge in those areas;
o a specialisation in economics can be combined with a specialisation in accounting, finance, business, human resource management or marketing;
o allows you to create a program which takes into account knowledge and skills from your prior working experience or recent undergraduate studies.
Graduate Capabilities

The Graduate Capabilities Framework articulates the fundamentals that underpin all of Macquarie’s academic programs. It expresses these as follows:

Cognitive capabilities
(K) discipline specific knowledge and skills
(T) critical, analytical and integrative thinking
(P) problem solving and research capability
(I) creative and innovative


Interpersonal or social capabilities
(C) effective communication
(E) engaged and ethical local and global citizens
(A) socially and environmentally active and responsible

Personal capabilities
(J) capable of professional and personal judgement and initiative
(L) commitment to continuous learning

Program Learning Outcomes By the end of this program it is anticipated you should be able to:
1. demonstrate an advanced level of theoretical economic knowledge in areas such as the role of monetary and fiscal policy (K);
2. apply advanced technical skills and professional technical competence, such as the ability to use theoretical economic models appropriately (K);
3. identify relevant research methods and principles applicable to economics (K);
4. apply creative and innovative strategies to appraise and synthesise complex economics problems (T);
5. conduct independent research to recommend appropriate solutions to complex business problems (P, J);
6. demonstrate communication skills relevant to an appropriate professional environment
7. understand recent developments and issues in economics and professional practice (E);
8. demonstrate awareness of the need for corporate social responsibility and ethical behaviour (E);
9. apply teamwork knowledge and skills for effective collaboration to achieve diverse purposes in a range of contexts (E).
Learning and Teaching Methods The Master of Commerce (MCom) assists students to develop advanced analytical, evaluative and communications skills and to critically apply their knowledge and skills to real world situations. Throughout the MCom program, students will participate in a range of traditional and innovative learning activities designed to develop the knowledge, understanding, skills and techniques required for successful participation in employment.

Learning activities are varied and include both formal and informal experiences. Many units in the program are supported by an online environment that provides access to resources such as lecture notes and recordings, readings, quizzes, discussion forums and assessment materials, and that facilitates communication between teaching staff and students.

The learning outcomes associated with individual units in the Economics specialisation have been aligned with program level learning outcomes and the Macquarie University graduate capabilities. Students are expected to actively engage in their learning and work with their teaching staff and fellow students to achieve these learning outcomes.

Learning styles used in the MCom (Economics) may include:
• Case studies, which provide students with an opportunity to apply their knowledge to real or simulated scenarios in individual or group situations.
• Simulations, modelled on real-life situations and providing learning experiences that promote integration of knowledge, skills and critical thinking.
• Project work, which may be independent or involve group learning. Projects assist students in developing more in-depth knowledge and skills in conducting research, communication, and in planning, organisation and time management.
• Readings taken from textbooks, journals, websites and other sources provide material to further develop concepts and knowledge referred to in individual units in the program.
• Reflective activities, such as journals, assist students in integrating the course content and in developing the ability to transfer knowledge and skills from the learning environment into the workplace.
• Self-study activities, such as questions with worked examples, online quizzes, and textbook questions and answers.
• Online discussion forums, in which students may be required to submit responses to set questions, and/or to participate in a set discussion topic.

Learning in the MCom (Economics) may be facilitated through the following teaching methods:
• Lectures or Seminars: lectures and seminars are presentations designed to communicate a body of knowledge to a group of students and provide insight into key concepts and understanding of the subject matter relating to the unit of study. Lectures and seminars in this program are typically delivered in the traditional face-to-face mode and are generally interactive, with students participating in discussions or other learning activities during the class. They may be recorded using the Echo 360 lecture audio recording system, enabling students to access lecture material on an 'on demand' basis.
• Computer lab workshops or practicals: the environment in which our graduates will work is one requiring high level quantitative skills. These quantitative skills are developed, in part, in computer lab workshop sessions.

The inclusion of the Capstone unit FOBE800 Contemporary Business Issues in the Master of Commerce (all specialisations) provides students with opportunities to integrate and synthesise their knowledge and experiences from across the whole program in preparation for the next stage of their professional careers.
Assessment Assessment tasks are designed to develop understanding and assess achievement of the program learning outcomes and will require students to integrate and exhibit skills and knowledge acquired. For each unit of study, students will typically complete between two to four assessment tasks. The unit guide will indicate the relationship between the assessment tasks and program learning outcomes.

Assessment tasks in units across the MCom (Economics specialisation) may include the following:
o Written assessments in traditional academic format ranging from short essays to longer, self-directed research papers, literature reviews and annotated bibliographies. The independent research component in the Economics specialisation will be assessed summatively in a research project in the unit ECON910 Research in Economics. The assessment will focus on research principles, literature review and developing a research argument.
o Case studies or reports, written documents outlining the results of a detailed analysis of a situation using empirical data and research. Case studies are used to assess critical thinking, analytical and research skills.
o Assignments, in a variety of formats such as the analysis of a data set, or a brief written response to a topic question.
o Online quizzes, designed to assess knowledge, skills or capabilities, and typically consisting of a series of questions requiring brief responses.
o Class participation, including engagement in seminar or tutorial discussions, or online discussions.
o Written class tests, time limited assessments designed to assess a student's knowledge or skills.
o Individual or group oral presentations which may incorporate presentation technologies or be accompanied by handouts.
o Final examination, an invigilated assessment conducted at the end of session and designed to assess a student's body of knowledge and critical thinking skills.
Recognition of Prior Learning

Macquarie University may recognise prior formal, informal and non-formal learning for the purpose of granting credit towards, or admission into, a program. The recognition of these forms of learning is enabled by the University’s Recognition of Prior Learning (RPL) Policy (see www.mq.edu.au/policy) and its associated Procedures and Guidelines. The RPL pages contain information on how to apply, links to registers, and the approval processes for recognising prior learning for entry or credit.


Information can be found at: https://mq.edu.au/rpl

Support for Learning

Macquarie University aspires to be an inclusive and supportive community of learners where all students are given the opportunity to meet their academic and personal goals. The University offers a comprehensive range of free and accessible student support services which include academic advice, counselling and psychological services, advocacy services and welfare advice, careers and employment, disability services and academic skills workshops amongst others. There is also a bulk billing medical service located on campus.

Further information can be found at www.students.mq.edu.au/support/

Campus Wellbeing contact details:
Phone: +61 2 9850 7497
Email: campuswellbeing@mq.edu.au
www.students.mq.edu.au/support/wellbeing

Program Standards and Quality

The program is subject to an ongoing comprehensive process of quality review in accordance with a pre-determined schedule that complies with the Higher Education Standards Framework. The review is overseen by Macquarie University's peak academic governance body, the Academic Senate and takes into account feedback received from students, staff and external stakeholders.

Graduate Destinations and Employability Career opportunities for economics graduates are many and varied. After completing a postgraduate specialisation in economics you will be well equipped to research and analyse economic trends, issues and data, and to use this research to produce forecasts and reports which can be a basis for advising clients (private companies, financial institutions, government) and providing them with economic information for use in developing policy and strategy.

Employers:
• consultancy firms
• commercial banks
• government
• educational institutions
• investment banks
• NGOs
• research organisations.
Assessment Regulations

This program is subject to Macquarie University regulations, including but not limited to those specified in the Assessment Policy, Academic Honesty Policy, the Final Examination Policy and relevant University Rules. For all approved University policies, procedures, guidelines and schedules visit www.mq.edu.au/policy.

Inherent requirements are the essential components of a course or program necessary for a student to successfully achieve the core learning outcomes of a course or program. Students must meet the inherent requirements to complete their Macquarie University course or program.

Inherent requirements for Macquarie University programs fall under the following categories:

Physical: The physical inherent requirement is to have the physical capabilities to safely and effectively perform the activities necessary to undertake the learning activities and achieve the learning outcomes of an award.

Cognition: The inherent requirement for cognition is possessing the intellectual, conceptual, integrative and quantitative capabilities to undertake the learning activities and achieve the learning outcomes of an award.

Communication: The inherent requirement for communication is the capacity to communicate information, thoughts and ideas through a variety of mediums and with a range of audiences.

Behavioural: The behavioural inherent requirement is the capacity to sustain appropriate behaviour over the duration of units of study to engage in activities necessary to undertake the learning activities and achieve the learning outcomes of an award.

For more information see https://students.mq.edu.au/study/my-study-program/inherent-requirements



2019 Unit Information

When offered:
S1 Day
Prerequisites:
Permission of Executive Dean of Faculty
Corequisites:
None
NCCWs:
HSC Chinese, CHN113, CHN148