Economics and Econometrics (ECON)

ECON 0001  Economics (WSTC Prep)  (10 Credit Points)  
Legacy Code: 700217  

This unit is designed to familiarise students with some of the basic concepts and relationships of the discipline. It was developed to prepare students for undergraduate study in the academic discipline area of commerce/business and educate students as to the crucial role economic decisions have in society and how economic problems and issues dominate media and politics. By understanding Economics, students are empowered to participate effectively and knowledgeably in economic debate.

Level: Undergraduate Level 0 Preparatory subject  
Equivalent Subjects: ECON 0002 - Economics (UWSC)  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 0002  Economics (WSTC)  (10 Credit Points)  
Legacy Code: 900030  

This unit is designed to familiarise students with some of the basic concepts and relationships of the discipline. It was developed to prepare students for undergraduate study in the academic discipline area of commerce/business and educate students as to the crucial role economic decisions have in society and how economic problems and issues dominate media and politics. By understanding Economics, students are empowered to participate effectively and knowledgeably in economic debate.

Level: Undergraduate Level 0 Preparatory subject  
Equivalent Subjects: ECON 0001 - Economics (WSTC Prep)  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 1002  Consumers, Firms and Markets (WSTC)  (10 Credit Points)  
Legacy Code: 700249  

This unit is an introduction to microeconomics. It provides students with an understanding of basic concepts such as value, rational consumer behaviour, the behaviour of firms in various market structures, the efficiency and failings of markets, the distribution of wealth and income, and the role of government regulation and intervention. It illuminates these concepts by considering and debating their application to contemporary economic and social issues such as: the influence of marketing on consumer choices, the concentration of market power in Australian industries, rising income and wealth inequality, minimum wage laws, and governmental responses to environmental problems and climate change.

Level: Undergraduate Level 1 subject  
Equivalent Subjects: MKTG 1005 - Consumers Firms and Markets  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 1003  Financial Institutions and Markets  (10 Credit Points)  
Legacy Code: 200048  

The investment, financing and risk management decisions made by individuals, firms and governments are implemented by creating and trading financial instruments in financial markets, often with the involvement of a variety of institutions. Using the Australian financial system as an illustration, Financial Institutions and Markets introduces students to the theory and functions of financial institutions and markets. Students develop an understanding of the role and functions of bank and non-bank financial institutions and of markets in equities, debt, foreign exchange and derivatives.

Level: Undergraduate Level 1 subject  
Equivalent Subjects: ECON 1004 - Financial Institutions and Markets (WSTC)  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 1004  Financial Institutions and Markets (WSTC)  (10 Credit Points)  
Legacy Code: 700250  

The investment, financing and risk management decisions made by individuals, firms and governments are implemented by creating and trading financial instruments in financial markets, often with the involvement of a variety of institutions. Using the Australian financial system as an illustration, Financial Institutions and Markets introduces students to the theory and functions of financial institutions and markets. Students develop an understanding of the role and functions of bank and non-bank financial institutions and of markets in equities, debt, foreign exchange and derivatives.

Level: Undergraduate Level 1 subject  
Equivalent Subjects: ECON 1003 - Financial Institutions and Markets  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 1005  Globalisation and Australia  (10 Credit Points)  
Legacy Code: 200540  

This unit provides an overview of the processes promoting globalisation and their impact upon Australian economic development. The unit stresses the interaction between the globalisation tendency and counteracting forces such as nationalism, and the contradictory economic, environmental, political, racial and class interests that have mediated and shaped the local impact of globalisation on the development of the Australian economy. The unit concludes by examining the socio-economic and environmental outcomes that ongoing globalisation is likely to produce in the 21st century for the world and Australia including the possibilities and prospects for indigenous economic development.

Level: Undergraduate Level 1 subject  
Equivalent Subjects: ECON 1001 - Australia and the Global Economy LGYB 8918 - Australian Economic History LGYA 9817 - Australia and the Global Economy  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 1006  Introduction to Economic Methods  (10 Credit Points)  
Legacy Code: 200052  

Introduction to Economic Methods covers basic concepts in mathematics and statistics to help student understanding of subjects such as accounting, management, marketing, finance, and economics. Students taking this unit are expected to improve their numeracy and analytical skills. In particular, students will learn how to collect, analyse and interpret data using simple descriptive and inferential statistical methods including simple regression analysis. In addition, by working through applied exercises, students are expected to improve their problem solving skills and acquire a basic understanding of calculus relevant to fields such as finance.

Level: Undergraduate Level 1 subject  
Equivalent Subjects: LGYA 9799 - Introduction to Economic Methods MATH 1030 - Statistics for Business MATH 1028 - Statistical Decision Making MATH 1029 - Statistical Decision Making (UWSC) MATH 1012 - Management Analytics MATH 1031 - Statistics for Business (WSTC)  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 1011  Principles of Economics  (10 Credit Points)  
Legacy Code: 200525  

This unit is an introduction to economic concepts and contemporary economic issues. It introduces students to basic concepts such as markets and their operation, the behaviour of firms, the efficiency and potential failings of markets, the role of government, key macroeconomic problems such as recessions, inflation and unemployment, as well as contemporary fiscal and monetary policies. It illuminates concepts via application to contemporary economic issues and debates over different theoretical perspectives. This unit also exposes students to recent developments and policy controversies in economics.

Level: Undergraduate Level 1 subject  
Equivalent Subjects: ECON 1007 - Introductory Economics ECON 1009 - Microeconomics ECON 1010 - Principles of Economics ECON 1012 - Principles of Econnomics (WSTC)  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 1013  The Australian Macroeconomy  (10 Credit Points)  
Legacy Code: 200549  

This unit is an introduction to macroeconomic concepts, analysis and issues in the Australian context. Basic concepts introduced and applied include: national income accounting, economic structure, price indexes and inflation, the balance of payments, and labour market aggregates. These concepts are applied in describing and explaining the recent evolution of the Australian economy in terms of growth, structural change, price stability, and employment. This leads to a discussion of major policy issues such as the role of governments in managing economic fluctuations, and the implications of Australia's foreign liabilities. The course ends with a brief introduction to modelling income determination.

Level: Undergraduate Level 1 subject  
Equivalent Subjects: ECON 1008 - Macroeconomics  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 1014  Consumers, Firms and Markets  (10 Credit Points)  

This unit is an introduction to microeconomics. It provides students with an understanding of basic concepts such as value, rational consumer behaviour, the behaviour of firms in various market structures, the efficiency and failings of markets, the distribution of wealth and income, and the role of government regulation and intervention. It illuminates these concepts by considering and debating their application to contemporary economic and social issues such as: the influence of marketing on consumer choices, the concentration of market power in Australian industries, rising income and wealth inequality, minimum wage laws, and governmental responses to environmental problems and climate change.

Level: Undergraduate Level 1 subject  
Equivalent Subjects: ECON 1002 - Consumers Firms and Markets (WSTC) MKTG 1005 - Consumers Firms and Markets  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 2002  Corporate Financial Management  (10 Credit Points)  
Legacy Code: 200488  

This unit introduces the fundamental concepts of finance theory and the tools of financial decision making in the context of the Australian institutional environment. These concepts relate primarily to the time value of money, risk and return, capital budgeting and capital structure. The unit's purpose is to develop an understanding of the basic practices of financial management from the perspective of a firm (both large and small). Students examine the investment, financing and dividend decisions of corporations.

Level: Undergraduate Level 2 subject  
Pre-requisite(s): ECON 1006 OR
MATH 1030
  
Equivalent Subjects: ECON 2003 - Financial Management FINC 2001 - Corporate Financial Decision Making  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 2004  Globalisation and Trade  (10 Credit Points)  
Legacy Code: 200541  

Globalisation and Trade focuses on the role of trade in the process of globalisation. It covers the history and analytical methods of international trade theories and their applications in private industry and the public sector. The theories are applied to contemporary issues in their institutional settings, in particular to: growth and development; trading blocs; and trade strategies in the developed, underdeveloped and formerly planned economies. The unit provides students with a critical understanding of the major economic, environmental, social and ethical issues stemming from the process of globalisation and trade in the twenty first century.

Level: Undergraduate Level 2 subject  
Pre-requisite(s): ECON 1011  
Equivalent Subjects: ECON 2006 - International Trade Theory and Policy  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 2005  History of Economic Thought  (10 Credit Points)  
Legacy Code: 200064  

This unit introduces the ideas of the most influential economic writers since Aristotle. Their theoretic contributions are discussed in the context of the political and philosophical debates and the economic issues of their times. The unit focuses on the theories of value and distribution; business cycles; and money and economic growth. It examines the criteria for progress in economic thought and considers the role of ideology and values. Students read selections from the writings of Smith, Ricardo, Mill, Marx, Marshall, Keynes and institutional writers.

Level: Undergraduate Level 2 subject  
Pre-requisite(s): ECON 1009 AND
ECON 1008 OR
ECON 1011 AND
ECON 1013
  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 2007  Macroeconomic Theory  (10 Credit Points)  
Legacy Code: 200547  

Macroeconomic Theory aims to provide alternative theoretical explanations of the working of the macroeconomy. The unit will be based on the analytical narratives of macroeconomic developments taught in Australian Macroeconomy. Starting from the basic IS-LM model, it derives the aggregate demand (AD) curve and examines the components of commodity and money markets. It also analyses the labour market and derives the aggregate supply (AS) curve of an economy. Using the AD-AS model, it examines the interdependent nature of macroeconomic problems (e.g. inflation, unemployment), and the effectiveness of fiscal and monetary policies within a closed economy context. The basic model is then extended to analyse open economy issues (e.g., exchange rates and balance of payments, external shocks and international interdependence). Whenever appropriate, alternative approaches to macroeconomics are evaluated.

Level: Undergraduate Level 2 subject  
Pre-requisite(s): ECON 1013  
Equivalent Subjects: LGYA 4311 - Macroeconomic Analysis  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3001  Applied Econometrics  (10 Credit Points)  
Legacy Code: 200054  

This unit builds on the econometric methods of Economic Modelling. The focus is on the linear model in econometrics in its application to economic and financial time series. The emphasis is on learning by doing in small group workshops.

Level: Undergraduate Level 3 subject  
Pre-requisite(s): MATH 2002 OR
ECON 3004
  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3002  Corporations, Economic Power and Policy  (10 Credit Points)  
Legacy Code: 200923  

Australia's industrial, financial and retail sectors are dominated by powerful corporations which engage in a wide variety of competitive and cooperative behaviours. This unit examines how modern corporations position themselves in terms of investment in large-scale production, technological innovation, the manipulation of information, marketing, and cooperative strategies to gain market share and enhance their profitability. It also explores the effects of the interactions of corporate behaviour and public policy, including the governmental function of constructing and regulating explicit market rules of exchange.

Level: Undergraduate Level 3 subject  
Equivalent Subjects: ECON 3018 - Microeconomic Theory and Applications  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3003  Derivatives  (10 Credit Points)  
Legacy Code: 200079  

This unit provides an introduction to the major classes of derivatives: forwards, futures, swaps and options. It examines how these instruments can be used by companies for the purposes of hedging, speculation and arbitrage. Each of these categories of derivatives is examined in some detail. Considerable attention is also given to various models used to price derivative products. The historical background to contemporary risk management is also considered.

Level: Undergraduate Level 3 subject  
Pre-requisite(s): ECON 1006 AND
ECON 2002
  
Equivalent Subjects: LGYA 9824 - Risk Management LGYB 9004 - Options Futures and Derivitive Products  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3005  Economic Theories, Controversies and Policies  (10 Credit Points)  
Legacy Code: 200816  

In 2016, this unit replaced by 200925 - Growth, Cycles and Crises. Economic Theories, Controversies and Policies presents alternative approaches to economic theories, controversies and policies. Topics may include recent developments or theoretical controversies in development economics, international trade, monetary economics, labour economics, environmental economics, managerial and industry economics, political economy, the economics of inequality, behavioural economics or feminist economics. Controversial contemporary policy debates, both in Australia and globally, will be examined. This unit will be team taught to expose students to a range of perspectives.

Level: Undergraduate Level 3 subject  
Pre-requisite(s): ECON 1011  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3006  Economic and Financial Modelling  (10 Credit Points)  
Legacy Code: 200916  

Economic and Financial Modelling examines regression analysis and its use in business especially in economics, finance and accounting. Topics will include the properties of estimators, hypothesis testing, specification error, multicollinearity, dummy variables, heteroskedasticity, serial correlation. It also introduces other modelling techniques in finance and economics. Empirical assignments undertaken by the student form an integral part of the unit. The emphasis is on learning by doing in small group workshops.

Level: Undergraduate Level 3 subject  
Pre-requisite(s): MATH 1030 OR
ECON 1006
  
Equivalent Subjects: ECON 3004 - Economic Modelling  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3007  Economics and Finance Engagement Project  (10 Credit Points)  
Legacy Code: 200537  

This unit will provide students with exposure to problems with which economists and finance professionals are confronted in their daily work. They will learn about and examine the multi-dimensional nature of the issues addressed by economists and finance professionals in real-life. Students will need to consider the nature of the problems, propose solutions, as well as address how realistic the solutions they are proposing are. They will learn how to systematically reflect on their contribution to the industry or community setting with which they engage.

Level: Undergraduate Level 3 subject  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3008  Financial Institutions Lending  (10 Credit Points)  
Legacy Code: 200062  

The major focus of this unit is the assessment and management of credit risk exposures and resulting implications on loan decisions and loan pricing decisions. The unit provides students with knowledge of traditional and modern credit risk measurement and management techniques, regulatory capital adequacy guidelines and economic capital decisions. Special topics covered include modern lending products and pertinent issues in lending. The unit covers current developments and debates in the field.

Level: Undergraduate Level 3 subject  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3009  Financial Institutions Management  (10 Credit Points)  
Legacy Code: 200061  

This unit provides an introduction to the theory and analytical techniques relevant to the management of Australian financial institutions. The unit presents a thorough examination of the major financial risks faced by Australian banks, and methods of measuring and managing these risks.

Level: Undergraduate Level 3 subject  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3010  Globalisation and Asia  (10 Credit Points)  
Legacy Code: 200533  

This unit aims to examine the role of the diverse economies of East Asia, Southeast Asia, and South Asia in the Global economy, and the complex economic, historical, political, social and cultural factors which have influenced and continue to shape the transformation of these economies. The unit will evaluate alternative development paradigms in light of the experience of these economies. The discussion will be cast within the wider debate about the role of foreign trade and investment flows. The unit will take the political economy approach to understanding both the transformation of these economies and their role in the Global Economy.

Level: Undergraduate Level 3 subject  
Equivalent Subjects: LGYA 4320 - Asian Economies  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3011  Government and the Economy  (10 Credit Points)  
Legacy Code: 200532  

This unit focuses on the nature of state activity in the economy. The unit introduces students to different analytical approaches to the economic role of the state and considers their practical implications for economic policy analysis.

Level: Undergraduate Level 3 subject  
Equivalent Subjects: LGYA 4318 - Public Finance  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3012  Growth, Cycles and Crises  (10 Credit Points)  
Legacy Code: 200925  

Growth, Cycles and Crises gives students an up-to-date understanding of macroeconomic developments, empirical puzzles, theoretical controversies and policy dilemmas of the day. It begins with an overview of different schools of thought and their historical roots. There follows an investigation of recent global crises, their underlying causes, and the policy responses in the major economic powers. We also consider the stresses on Australia resulting from global economic fluctuations and shifts, causing disruptive exchange rate swings and fiscal difficulties. Finally with major developments around the world and the controversies arising from them, such as debt crises and austerity debate, the problem of unbalanced growth in rapidly developing economies, and stagnation and policy zigzags apparent in some advanced economies.

Level: Undergraduate Level 3 subject  
Equivalent Subjects: ECON 3005 - Economic Theories Controversies and Policies  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3013  Industry Economics and Markets  (10 Credit Points)  
Legacy Code: 200531  

The first part of this unit develops an understanding of the relationships between industry structure, the conduct of firms, and market performance. Alternative theories of the firm and strategic market behaviour are considered. The unit then examines the characteristics and operation of particular markets, including public goods and utilities, human resources, and natural and environmental resources. The analysis developed in the unit is used to provide insights into applied policy areas such as competition policy, regulation of public enterprises, microeconomic reform and industry policy.

Level: Undergraduate Level 3 subject  
Pre-requisite(s): ECON 1009 OR
ECON 1007 OR
ECON 1011
  
Equivalent Subjects: LGYA 4313 - Industry Economics and Policy  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3014  International Finance  (10 Credit Points)  
Legacy Code: 200055  

The study of international finance from the vantage point of a multinational enterprise provides students with a global insight into international trade for both manufactured and financial products. The unit recognises the increasing importance of global integration of money and capital markets - a trend that is creating expanded opportunities for both investors and organisations that need to raise capital. The recognition and management of risks associated with international operations are explored including cost of capital and financial structure, international financial markets crisis, international financial management, international monetary system, international diversification, foreign exchange risk management including the use of futures and options, foreign investment analysis, determination of exchange rates, balance of payments analysis, international debt crisis and country risk analysis.

Level: Undergraduate Level 3 subject  
Pre-requisite(s): ECON 2002  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3016  Macroeconomic Issues  (10 Credit Points)  
Legacy Code: 200546  

In 2016, this unit replaced by 200926 - Macroeconomic Measures and Models. Macroeconomic Issues provides tools to assess competing explanations, predictions and policy recommendations regarding the macroeconomy. Building on the introductory concepts, measures and simple theories, this unit develops a comprehensive model for identifying and quantifying the sources and mechanisms of macroeconomic change. A systematic modelling approach reveals whether differences are rooted in assumptions or empirical claims. We focus on Australia, but consider controversies relating to the USA, Asia and Europe, given their impact on global conditions and the lessons they offer for Australia. Topics include productivity and growth, the determinants of unemployment and inflation, the role of exchange rates in adjustment, and monetary and fiscal policy design.

Level: Undergraduate Level 3 subject  
Pre-requisite(s): ECON 1013 OR
ECON 2007 OR
LGYA 4311
  
Equivalent Subjects: LGYA 4317 - Macroeconomic Theory and Practice  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3017  Macroeconomic Measures and Models  (10 Credit Points)  
Legacy Code: 200926  

The unit equips students with formal tools to analyse macroeconomic problems. Students learn to use macroeconomic terms and measures competently in discussion, and interpret data from the income, product, external and government accounts, and labour force surveys. Through hands-on experience constructing and applying price indices, deflators and productivity measures, they acquire practical skills and a sound conceptual understanding of economic variables and the accounting framework. Students come to appreciate the power of macroeconomic models, learning how to capture myriad mechanisms and feedbacks in a single framework, for example to define and quantify multipliers and crowding-out effects. Finally, students gain an understanding of fundamental external constraints, such as international parity and balance of payments equilibrium conditions.

Level: Undergraduate Level 3 subject  
Equivalent Subjects: ECON 3016 - Macroeconomic Issues  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3018  Microeconomic Theory and Applications  (10 Credit Points)  
Legacy Code: 200530  

In 2016, this unit replaced by 200923 - Corporations, Economic Power and Policy. The aim of Microeconomic Theory and Applications is to extend students' knowledge of microeconomic theory developed in Principles of Economics. After a more formal presentation, the rather idealistic assumptions used in the context of the perfectly competitive markets will be relaxed in order to model typical situations encountered in the business world. The theory of choice will be extended to situations where individuals face uncertainty regarding the outcome of their own actions. In terms of market structure, we will investigate the consequences in terms of price, quantity and consumer's surplus, of monopoly, oligopoly or duopoly markets. As some of these market structures imply that the individuals' decisions might strongly affect or be affected by a limited number of other decision makers, an introduction to Game Theory will be presented. Finally, our concerns for investigating more realistic economic situations will lead us to make a brief incursion into markets characterised by asymmetric information, the presence of public goods or the existence of externalities.

Level: Undergraduate Level 3 subject  
Pre-requisite(s): ECON 1011 OR
ECON 1006
  
Equivalent Subjects: LGYA 4313 - Industry Economics and Policy  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3019  Political Economy  (10 Credit Points)  
Legacy Code: 200065  

This unit examines various political economy approaches to the analysis of economics, mainly associated with Marxian, post-Keynesian, evolutionary schools of thought as well as development economics and the perspectives of international political economy. These may be regarded as the main alternatives to neo-classical economic theory. As they do not represent a unified body of thought, the unit will survey the main contributions of each, focusing on both the positive aspects of theory and the negative aspects relating to the critique of neo-classical theory.

Level: Undergraduate Level 3 subject  
Pre-requisite(s): ECON 1009 AND
ECON 1008 OR
ECON 1007
  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3021  The Superannuation Industry  (10 Credit Points)  
Legacy Code: 200077  

This unit provides students with an understanding of the economics of retirement and retirement income provision, with particular emphasis on the Australian superannuation industry. On completion of this unit, students should have a comprehensive understanding of superannuation in Australia, as well as an appreciation of the economic issues associated with alternative models of retirement income provision.

Level: Undergraduate Level 3 subject  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 3022  Urban and Regional Economics  (10 Credit Points)  
Legacy Code: 200075  

Students wishing to enrol in this unit are advised to contact the Unit Coordinator. This unit deals with: models of short-run fluctuations of regional aggregates and the economic relations between regions; models of long-run change in regional aggregates and the long-run economic relations between regions; equilibrium models of intra-urban location; optimal models of intra-urban allocation; and optimal allocation of capital to urban land.

Level: Undergraduate Level 3 subject  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 4001  Advanced Analysis and Interpretation  (10 Credit Points)  

Building on the introduction to the analysis of qualitative data presented in the core unit Research Design 1: Theories of Enquiry this unit, Advanced Analysis and Interpretation, will provide candidates with the techniques necessary to use, analyse and interpret qualitative data in business research. Presented as a series of seminar-workshops, candidates consider the theories that underpin the employed analytical methods, and then move to employ introduced qualitative software tools to analyse and interpret research data.

Level: Undergraduate Level 4 subject  
Co-requisite(s): HUMN 4009  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 7001  Economics  (10 Credit Points)  
Legacy Code: 200425  

This unit presents a broad overview of economics and the way economic activity, institutions and regulations shape social and business outcomes, knowledge that is critical for any student in a business-related discipline. Students will reflect critically on the key economic processes, theories and ideas. We study the way economics defines growth and wellbeing and the economic theories of income determination and business cycles that shape macroeconomic policy. Students will form perspectives on globalisation, trade, colonisation and development and the causes of, and solutions to, inequalities between Indigenous and non-Indigenous Australians. In the microeconomic component of the unit, we study the way economics understands and models individuals and the consumer, production and firms, markets and market structures, the role of government intervention and regulation, environmental outcomes and policy to control processes of economic power.

Level: Postgraduate Coursework Level 7 subject  
Equivalent Subjects: LGYA 8981 Economics (PG)  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 9001  Higher Degree Research Thesis - Economics and Finance  (20 Credit Points)  
Legacy Code: 800037  
Level: PhD and Research Masters Level 9 subject  
Restrictions: Please see the Subject Details page for any restrictions for this subject  
ECON 9002  Higher Degree Research Thesis - Property Economics  (20 Credit Points)  
Legacy Code: 800035  

In 2004, this unit replaced by 800035.2 Higher Degree Research Thesis FT - Property Economics.

Level: PhD and Research Masters Level 9 subject  
Restrictions: Please see the Subject Details page for any restrictions for this subject