| AQF Level |
Level 9 Masters by Coursework Degree |
| CRICOS Code |
083784J |
| Overview and Aims of the Program |
Key features:
• offers a wide range of subjects exploring the theoretical and applied aspects of modern economics at an advanced level
• provides a strong global focus and a comprehensive, international outlook, ensuring you are ready for the next step in your career
• puts you at the forefront of new knowledge as you are taught by highly qualified academic staff with industry-relevant experience
• broadens your analytical skills and equips you with the knowledge required to move between roles. |
| 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 advanced knowledge of key ideas in contemporary economics, such as, the role of monetary and fiscal policy, and how they apply to the problems faced by key decision makers (K)
2. demonstrate knowledge of key advanced econometric ideas, such as, an understanding of the sampling properties of estimators, statistical methods for drawing inferences and the nature and consequences of violations of assumptions made in econometric modelling (K)
3. demonstrate advanced econometric skills (K)
4. critically evaluate established knowledge (T)
5. reflect critically upon complex contemporary economic issues (T)
6. conduct independent research in order to recommend appropriate solutions to complex economic problems (P, J)
7. demonstrate communication skills relevant to an appropriate professional environment (C)
8. understand the international and contemporary challenges facing business and government (E)
9. display an awareness of the ethical dimension of business practice (E). |
| Learning and Teaching Methods |
The Master of Economics (MEc) assists students to develop a range of analytical, evaluative and communications skills and to critically apply their knowledge and skills to real world situations. Throughout the MEc 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 MEc 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 MEc 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, (non assessed) online quizzes, and textbook questions and answers.
• Online discussion forums, in which students may be required to submit responses to a given question, and/or to participate in a set discussion topic.
Learning in the MEc 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 session. 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. These sessions allow students to acquire and practice quantitative skills that are highly valued in the workplace. In addition to formal workshop sessions under the direct instruction of a lecturer, students are able to access the labs to practice skills and to complete assessment tasks in their own time.
• Tutorials: some units in the MEc make provision for tutorial type instruction. Tutorials are classes in which a lecturer/tutor facilitates interactive learning with a small group of students. Tutorials provide students with the opportunity to ask questions, seek clarification, resolve problems, practice communication skills and develop their ability to work in a collaborative manner with others.
The inclusion of the Capstone unit ECON853 'Economics of Public Issues' in the MEc 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 careers. |
| Assessment |
Assessment in the MEc is carefully aligned with the program's learning outcomes, and is both formative and summative. Formative assessment provides students with feedback on their learning, but is often not graded, or makes a small contribution to the final grade. Summative assessment gives students a judgement on their learning, for grading purposes.
The types of assessment tasks employed in the Master of Economics (MEc) are diverse.
• Essays: an essay requires the systematic investigation of a topic and the development of a written argument. In addition to assessing the acquisition of discipline specific knowledge and skills, essays are also used to assess other program objectives relating to cognitive, communication and research skills. Essays in the MEc tend to be between 1500 and 3000 words in length.
• Independent Research Projects: two units in the MEc include a substantial independent research project. ECON910 Research in Economics and ECON840 Applied Econometrics both summatively assess the research component of the coursework.
• Assignments: an assignment may take a variety of formats ranging from the production of an Excel spreadsheet, the analysis of data, a written response to a topic question, or presenting a solution to an analytical problem.
• Quizzes: a quiz is an online assessment. In the MEc, quizzes are typically used to assess discipline specific knowledge and skills. Quizzes usually consist of a short series of questions requiring a brief response. They also commonly take the form of multiple choice questions. Quizzes are used widely across the program. They provide timely, formative feedback to students.
• Presentations: presentations may be conducted on an individual or group basis. They involve the oral description of an area of investigation and may utilise a range of presentation technologies and supplementary materials such as handouts. Presentations typically provide the audience with the opportunity to ask questions. The presenter(s) is expected to provide an informed response. This form of assessment is crucial in the development of the important program objectives relating to communication. Feedback is typically provided verbally and in writing. Feedback from peers is also sometimes provided.
• Class participation: class participation is assessed by a student's engagement in discussions facilitated by a lecturer, contributions to online discussion forums, or general questions asked during lectures and seminars. Participation is expected to be well considered and relevant to the topic.
• Final examination: the final examination is designed to assess a student's body of knowledge and critical thinking skills. Examinations consist of questions requiring written responses. These questions may be in a multiple choice format, or require short answers or short essay responses. Most units in the MEc have a final examination. The final examination is typically given the heaviest weighting in the assessment scheme. |
| 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 and its associated Procedures and Guidelines. For recognition of prior informal and non-formal learning, please refer to the relevant RPL Plan, which describes the evidential requirements and approval processes for recognising prior learning for entry or credit in this program.
For undergraduate RPL plans visit www.goto.mq.edu.au/nonschoolrpl
For postgraduate RPL plans visit www.goto.mq.edu.au/pgrpl |
| 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/health_and_wellbeing/contact_us |
| 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 |
Many opportunities exist in both the private and government sectors of business and industry. Graduates can work as financial analysts, market analysts, investment analysts, business journalists, management consultants, researchers, and planning/policy analysts.
Employers:
• Master of Economics graduates are in high demand with central banks, government departments, international organisations, financial institutions, regulators and large organisations.
• 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. |
| External Benchmarks |
The MEc is benchmarked against the Economic Learning Standards. These learning standards were commissioned by the Australian Government under the auspices of an Office of Learning and Teaching fellowship. The development of these learning standards was supported by the Australian Business Deans Council and the Economic Society of Australia. More information about the economic learning standards is available at http://www.economicslearningstandards.com
The MEc also benefits from regular input from the economics department's Industry Advisory Board. This board consists of senior industry professionals who provide feedback on the MEc. |
| Accreditation |
This is an Australian Qualifications Framework (AQF) accredited qualification.
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