Why is something as superfluous as diamonds so costly, but something as essential as water so cheap? How can the cost of the coffee beans make up only a few cents of the price of a cup of coffee? With the world’s highest minimum wage rate, can Australia ever compete with low wage countries?

The ANU Bachelor of Economics provides a framework and a way of thinking to help answer questions like these. Your coursework will span economics (both theory and applied), economic history, and econometrics while developing your analytical problem-solving and quantitative skills.

Whether working as an economist or in some other role, your Bachelor of Economics degree and training will be sought after.

Statistics opens the door to understanding our world through the exploration of data and the modelling of uncertainty. The need for statistics is growing rapidly as our ability to collect massive amounts of data outruns our ability to understand and use the data we collect. Hal Varian, Chief Economist at Google, declared that “the sexy job in the next ten years will be statisticians”, as the challenge of understanding large, complex data structures mounts. It is estimated that 2.5 exabytes of data is generated every single day, with the accumulated amount of data doubling every 18 months, and that 90% of all data ever gathered was produced within the last two years. What’s more, statistics is critical for every discipline for which data play a role, and in responding to the world’s biggest challenges such as climate change, terrorism, health and medicine, and global economic conditions. Some of the world’s largest employers of statisticians include Google and Facebook as well as governments, financial institutions, medical and pharmaceutical industries, universities and many other sectors. By completing a BStat at ANU, you stand ready to meet humanity’s biggest challenges by understanding the world we observe through the eyes of data and statistical and probability modelling.

Employment Opportunities

Economics provides a foundation for careers in:

• Public policy
• International development
•  Business and management
• Government and politics 
• Law
• Finance and insurance
• Teaching and education
• Marketing and tourism 
• Examples of job titles in economics are listed below.

Government Departments
Australian and overseas governments provide many career paths for economists.  Departments like Finance, Treasury, the Australian Bureau of Statistics, the Productivity Commission and the Australian Bureau of Agriculture and Resource Economics recruit heavily from the ANU.  Economists are also much in demand in other government departments dealing with issues such as Trade, Education, Employment and Social Security.  

Business and Management
Firms recruit economists because their advice is vital to businesses in understanding their business environment, how competitors react, and how changes in things such as interest rates, oil prices, exchange rates and consumer demand are likely to affect the business.  Consultancy and accounting firms employ economists to advise their clients which include both private firms and governments.

International Agencies
International agencies such as the World Bank, the International Monetary Fund and Oxfam recruit economists to advise them on the effects of policy changes, financial crises and conflicts in one part of the global economy on another, as they are transmitted through trade and financial flows.  Economists advise on trade policy and macroeconomic policy coordination.

Resource and Environmental Economist
Economists are employed to study natural resource use and environmental problems and their relationship to economic behaviour.  Employers include mining firms and regulatory agencies.  Economists contribute to the better management of natural resources and improving the global environment.

Schools and Universities
There is a thriving national and international market for academic economists in High Schools / Colleges and Universities. 

Finance and Banking
Financial institutions including Banks, and in particular the Reserve Bank of Australia, actively recruit economists to advise them on the state of the economy and on risks from factors such as interest rate changes and exchange rate movements.

Economics provides a foundation for careers in:

• Public policy
• International development
•  Business and management
• Government and politics 
• Law
• Finance and insurance
• Teaching and education
• Marketing and tourism 
• Examples of job titles in economics are listed below.

Government Departments
Australian and overseas governments provide many career paths for economists.  Departments like Finance, Treasury, the Australian Bureau of Statistics, the Productivity Commission and the Australian Bureau of Agriculture and Resource Economics recruit heavily from the ANU.  Economists are also much in demand in other government departments dealing with issues such as Trade, Education, Employment and Social Security.  

Business and Management
Firms recruit economists because their advice is vital to businesses in understanding their business environment, how competitors react, and how changes in things such as interest rates, oil prices, exchange rates and consumer demand are likely to affect the business.  Consultancy and accounting firms employ economists to advise their clients which include both private firms and governments.

International Agencies
International agencies such as the World Bank, the International Monetary Fund and Oxfam recruit economists to advise them on the effects of policy changes, financial crises and conflicts in one part of the global economy on another, as they are transmitted through trade and financial flows.  Economists advise on trade policy and macroeconomic policy coordination.

Resource and Environmental Economist
Economists are employed to study natural resource use and environmental problems and their relationship to economic behaviour.  Employers include mining firms and regulatory agencies.  Economists contribute to the better management of natural resources and improving the global environment.

Schools and Universities
There is a thriving national and international market for academic economists in High Schools / Colleges and Universities. 

Finance and Banking
Financial institutions including Banks, and in particular the Reserve Bank of Australia, actively recruit economists to advise them on the state of the economy and on risks from factors such as interest rate changes and exchange rate movements.

Learning Outcomes

Upon successful completion of a Bachelor of Economics, graduates will be able to:

1. to solve economic problems using analytical reasoning;
2. apply economic analysis to a wide variety of economic issues;
3. use basic empirical estimation techniques to test economic predictions;
4. provide insight into the way that households and individuals make decisions and interact, and the role of government in providing public goods and regulating the market sector;
5. learn how to communicate rigorous economic analysis in a coherent way

Upon successful completion, students will be able to:

1. Review and synthesise a broad range of statistical knowledge from their chosen major
2. Use the R statistical computing language to carry out a wide variety of statistical tasks
3. Carry out model selection in a multiple linear regression modelling context
4. Describe the concepts of stochastic processes in discrete and continuous time
5. Describe and interpret probability theory, continuous random variables, and sampling distributions and the central limit theorem
6. Analyse programming problems to suggest, design and implement appropriate modular program structures, based on a data-directed approach.  

Further Information

• ECHI1006 The Australian Economy: Past and Present
• ECON2013 Behavioural Economics: Psychology and Economics
• ECON2900 Development Poverty and Famine(P)
• ECON2901 Development Poverty and Famine(H)

Students have 48 units of electives in a single degree program. Electives can be selected from CBE or other Colleges. No more than 10 courses at 1000 level.

Students wish to undertake an out of college elective may contact the relevant College directly.

Student Responsibility:

It is the student's responsibility to select electives in such a way that:

• they satisfy prerequisites for the corresponding course/s.
• they conform to the rules set out in Programs and Courses or if unsure seek advice from the CBE office.

It is the student's responsibility to select the courses appropriate for his/her program.

Study Plans:
Study Plans for Commencing Semester 1 or 2

• ECHI1006 The Australian Economy: Past and Present
• ECON2013 Behavioural Economics: Psychology and Economics
• ECON2900 Development Poverty and Famine(P)
• ECON2901 Development Poverty and Famine(H)

Students have 48 units of electives in a single degree program. Electives can be selected from CBE or other Colleges. No more than 10 courses at 1000 level.

Students wish to undertake an out of college elective may contact the relevant College directly.

Student Responsibility:

It is the student's responsibility to select electives in such a way that:

• they satisfy prerequisites for the corresponding course/s.
• they conform to the rules set out in Programs and Courses or if unsure seek advice from the CBE office.

It is the student's responsibility to select the courses appropriate for his/her program.

Study Plans:
Study Plans for Commencing Semester 1 or 2

Admission Requirements

Admission to all programs is on a competitive basis. Admission to undergraduate degrees is based on meeting the ATAR requirement or an equivalent rank derived from the following qualifications:

• An Australian year 12 qualification or international equivalent; OR
• A completed Associate Diploma, Associate Degree, AQF Diploma, Diploma, AQF Advanced Diploma, Graduate Certificate or international equivalent; OR
• At least one standard full-time year (1.0 FTE) in a single program of degree level study at an Australian higher education institution or international equivalent; OR
• An approved tertiary preparation course unless subsequent study is undertaken.

Click HERE for further information about domestic admission.

More information about ATAR requirements for individual programs can be found HERE.

The National Register of higher education providers is an authoritative source of information that will help you confirm your institution of choice is registered to deliver higher education in Australia.

The Quality Indicators for Learning and Teaching (QILT) website is HERE. Based on surveys done by thousands of students across Australia you can find out about universities that interest you, doing side-by-side comparisons.

The table below is a guide to the entry level required for domestic applicants. Exact entry level will be set at time of offer.

Domestic applicant entry requirements

Queensland Band equivalents are a guide only - selection is made on an ATAR equivalent that is not available to students.

International applicant entry requirements

International applicants may view further information on admissions requirements at Entry Requirements for International Undergraduate Applicants

The University reserves the right to alter or discontinue its programs as required.

Prerequisites

There are no formal program prerequisites. But assumed knowledge is:-ACT: Mathematical Methods (Major)/Further Mathematics/Specialist Mathematics (major)/ Specialist Methods or NSW: Mathematics or equivalent. More information about interstate subject equivalencies can be found here.

ACT:  Specialist Mathematics (Major/Minor) (160+)/Specialist Methods(Major/Minor) (160+), NSW: Mathematics Extension 1 (Band E3) or equivelant. More information about interstate subject equivalencies can be found here.

Adjustment Factors

ANU offers rank adjustments for a number of adjustment factors, including for high achievement in nationally strategic senior secondary subjects and for recognition of difficult circumstances that students face in their studies. Rank adjustments are applied to Bachelor degree applicants with an ATAR at or above 70. Points are awarded in accordance with the approved schedules, and no more than 15 points (maximum 5 subject/performance-based adjustments, maximum 10 equity-based adjustments and maximum 5 Elite Athlete adjustments) will be awarded. Subject and performance-based adjustments do not apply to programs with a minimum selection rank of 98 or higher. Visit the ANU Adjustment Factors website for further information.

Scholarships

ANU offers a wide range of scholarships to students to assist with the cost of their studies.

Eligibility to apply for ANU scholarships varies depending on the specifics of the scholarship and can be categorised by the type of student you are.  Specific scholarship application process information is included in the relevant scholarship listing.

For further information see the Scholarships website.

Program Requirements

The Bachelor of Economics flexible double degree component requires completion of 96 units, of which:

A maximum of 48 units may come from completion of 1000-level courses

The 96 units must consist of:

36 units from completion of the following compulsory courses:

ECON1101 Microeconomics 1

ECON3101 Microeconomics 3

ECON3102 Macroeconomics 3

EMET1001 Foundations of Economic and Financial Models

EMET2007 Econometrics I: Econometric Methods

STAT1008 Quantitative Research Methods

6 units from completion of a course from the following list:

ECON1100 Economics I (H)

ECON1102 Macroeconomics 1

6 units from completion of a course from the following list:

ECON2101 Microeconomics 2(P)

ECON2111 Microeconomics 2(H)

6 units from completion of a course from the following list:

ECON2016 Economics II (H)

ECON2102 Macroeconomics 2(P)

ECON2112 Macroeconomics 2(H)

6 units from completion of a course from the following list:

ECHI1006 The Australian Economy: Past and Present

ECHI3008 History of Economic Thought(P)

ECHI3009 World Economy Since 1800

ECHI3018 History of Economic Thought (H)

ECHI3019 The World Economy Since 1800 (H)

ECON2013 Behavioral Economics

ECON2014 Managerial Economics

ECON2026 Money and Banking

ECON2091 The Economy, Politics and the State

ECON2120 Law and Economics(P)

ECON2139 Law and Economics(H)

ECON2141 Strategic Thinking: An introduction to Game Theory

ECON2900 Development Poverty and Famine

ECON2901 Development Poverty and Famine(H)
 

18 units from completion of courses on List 1 of the ANU College of Business and Economics
 

18 units from completion of courses on List 2 of the ANU College of Business and Economics

If your flexible double degree is within the College of Business and Economics (for example Commerce and Economics), the below study plan may show the same course twice. If this is the case, you must only do the course once and replace the other course with a University Wode Elective or CBE List 1 elective. Please note that you cannot exceed 8 out of college electives.

For majors and minors offered by the ANU College of Business and Economics, students may count a course towards multiple majors and minors. If a minor is a subset of all stated courses and/or prerequisites for a major, then completion of the major overrides completion of the minor, and only the major is regarded as having been completed. If all courses in a major and/or minor are compulsory courses in the degree, the major and/or minor will not be listed on the transcript.

The Bachelor of Statistics flexible double degree component requires completion of 96 units, of which:

A maximum of 48 units may come from completion of 1000-level courses

The 96 units must consist of:

48 units from the completion of one of the following statistics majors:

Applied Statistics

Probability and Stochastic Processes

Statistical Data Analytics

Theoretical Statistics

18 units from completion of the following compulsory courses:

STAT2001 Introductory Mathematical Statistics

STAT2005 Introduction to Stochastic Processes

STAT2008 Regression Modelling

6 units from completion of an introductory statistics course from the following list:

STAT1003 Statistical Techniques

STAT1008 Quantitative Research Methods

6 units from completion of an introductory computing course from the following list:

COMP1100 Programming as Problem Solving

COMP1730 Programming for Scientists

12 units from completion of an introductory mathematics courses from the following list:

MATH1013 Mathematics and Applications 1

MATH1014 Mathematics and Applications 2

MATH1115 Advanced Mathematics and Applications 1

MATH1116 Advanced Mathematics and Applications 2

6 units from completion of a discrete mathematics course from the following list:

MATH2301 Games, Graphs and Machines

MATH3511 Scientific Computing

If your flexible double degree is within the College of Business and Economics (for example Commerce and Economics), the below study plan may show the same course twice. If this is the case, you must only do the course once and replace the other course with a University Wide Elective or CBE List 1 elective. Please note that you cannot exceed 8 out of college electives.

Students enrolled in Bachelor of Statistics/Bachelor of Advanced Computing (Hons) degree will need to enrol in MATH1115 and MATH1116, instead of MATH1013 and MATH1014. Also, in the Bachelor of Statistics, these students should replace COMP1100 with an elective, as they will completing COMP1130 in the BAC (Hons) degree, which is an incompatible course

For majors and minors offered by the ANU College of Business and Economics, students may count a course towards multiple majors and minors. If a minor is a subset of all stated courses and/or prerequisites for a major, then completion of the major overrides completion of the minor, and only the major is regarded as having been completed. If all courses in a major and/or minor are compulsory courses in the degree, the major and/or minor will not be listed on the transcript.

Majors

Bachelor of Statistics Majors

Minors

Bachelor of Statistics Minors

Bachelor of Economics Minors

Study Options

Honours

Alongside the courses in the economics degree, an Honours stream is offered commencing in second semester of first year. This stream is designed for (but not exclusive to) students whose performance in economics is at credit level or better. It aims to provide students with a deeper understanding of economic analysis and to impart greater confidence and capacity in addressing economic issues. Participation in the Honours stream is important for students who may wish to work as professional economists or who want to go on to further study of economics at the fourth year or at graduate level. The Honours stream involves an additional lecture and tutorial per week, plus an additional examination each semester. Students are able to enter, or leave, the Honours stream at any stage during the degree.

After the standard three-year program, students can undertake Honours as a fourth year of study in Applied Economics, Economics, Econometrics or Economic History. Entry is by invitation to high achieving students. Anyone with high grades in three-year economics undergraduate degrees at other universities may also be eligible to enter the Honours year.

Interested students can obtain advice from the Honours Convenor in the Research School of Economics.

Students may proceed to the fourth honours year in Statistics. Entry to the honours year program is subject to an appropriately high average grade (generally distinction level or above) in the 3000-level compulsory subjects described in the course listings and requires the approval of College. Other conditions may also apply. Students who are interested in the honours program should seek further advice from the Convenor of the Program in the Research School of Finance, Actuarial Studies and Applied Statistics.