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Your guide to studying ECONOMICS For students who want to make an impact on the

Your guide to studying


For students who want to make an impact on the world.

Your guide to studying ECONOMICS For students who want to make an impact on the world.

“Economics has given me a diverse and marketable skill set and a global perspective that has set me up to take the first steps towards an interesting, exciting and worthwhile international career.”

Verity Doyle, Bachelor of Economics















Bachelor of Economics (BEcon)


Honours program


Postgraduate coursework programs


PhD and Research Masters programs











Copywriter: Julia Renaud, Strategique Pty Ltd Publication date: March 2013



Place of origin of UQ School of Economics students

Place of origin of UQ School of Economics students WELCOME If you are a high school


If you are a high school student contemplating studying economics or an undergraduate looking for postgraduate opportunities, I strongly encourage you to consider The University of Queensland (UQ) School of Economics.

Our School is recognised as one of the leading economics departments internationally, and we consistently attract high-achieving students from around the world.

UQ Economics aims to deliver high-quality teaching in an intellectually stimulating environment. Our highly awarded teaching and research staff include some of the most internationally respected researchers— helping ensure that you receive cutting-edge economics training. We design our courses and programs to deliver the skills, concepts and techniques critical to securing a successful career in an increasingly connected and competitive world.

UQ’s history in economics is distinguished. Staff alumni include Colin G. Clark – the first Distinguished Fellow, Economic Society of Australia (ESA) and one of the first Australian- based Econometric Society Fellows – and Nobel Memorial Prize recipient John C. Harsanyi, a founder of Game Theory and Econometric Society Fellow.

Today, UQ Economics has assembled one of Australia’s leading research-intensive economics disciplines. Our talented economists rank among the country’s foremost researchers in Economic Theory, Econometrics and Applied Economics. These accomplished scholars, along with a growing cohort of exceptional junior academics, claim a disproportionate share of Australia’s economics honours, competitive research grants, prestigious fellowships and high-quality publications. In this Guide, we introduce you to our School, the array of programs and courses we offer as well as providing details about scholarships and career opportunities.

I hope you enjoy learning more about The UQ School of Economics and the possibilities that can unfold for you with a degree in economics.

and the possibilities that can unfold for you with a degree in economics. Professor Flavio Menezes
and the possibilities that can unfold for you with a degree in economics. Professor Flavio Menezes

Professor Flavio Menezes Head of School



UQ Economics’ Dr James Laurenceson is an expert on Australia’s trade and investment relationship with China.

A Senior Lecturer with the School and

President of the Chinese Economics Society of Australia, Dr Laurenceson’s economic modelling and research enables him to comment with authority on issues concerning Australia’s economic ties with China.

“The topics that I usually talk about relate to China’s impact on Australia’s macroeconomic performance as well as Chinese investment in Australia.

“When you read the media it’s clear that people don’t understand these issues and one of my main objectives

is to dispel the myths.

“For example, most people don’t realise Chinese investment in Australia is small, it’s just a fraction of investment compared to the US. Despite what the headlines say about the Chinese purchase of an Australian mine or farm, investment linkages between the two countries are almost entirely absent.

“The flipside is that historically Australia

has always relied on foreign investment. In China’s instance, it’s just that the investment is coming from a new country.

“I predict that Chinese investment in Australia will grow. China is quite keen to build a relationship with Australia, as we’re politically stable and have a good rule of law. We won’t be needing to bow to get investment from China, but at the same time, we can’t be complacent because China does have other options.

“I enjoy being able to comment on these issues with confidence.”

In addition to giving television and radio interviews, Dr Laurenceson also contributes to blogs: The Conversation and the East Asia Forum.

to blogs: The Conversation and the East Asia Forum . Economics opens your mind to see

Economics opens your mind to see the world as you have never seen it before. It gets you to question and think about things around you that you would never have questioned previously.

A Bachelor of Economics helps explain much of what is going on in the world today and how to make sense of phenomenons such as the EU crisis and the GFC.

You get to understand how economies and markets function; why governments make the decisions they do; why the news focuses on overseas developments like the American presidential race. It helps you to see and think about the link that exists between you, the local shop owner, the government, the nation and the rest of the world.

Tam de Lacey Bachelor Economics/Arts

WHY CHOOSE ECONOMICS? Economics is the program of choice for students who are curious and


Economics is the program of choice for students who are curious and want to have an impact on the world around them.

You will thrive on studying economics if you question such things as what happens in the worlds of politics, industry and finance or how decisions are made about managing climate change, scarce resources or welfare.

The science of decision-making, economics facilitates understanding the ‘why’ and ‘how’ behind decisions. It helps predict the costs and benefits of choices made by organisations, governments, communities and individuals.

Economists influence almost every facet of our lives. From formulating government policy to determining humanitarian aid, to solving environmental issues, economics provides the framework for analysing and solving complex resource allocation and distribution issues.

With its wide-ranging applications, economics offers a tantalising array of personally and financially rewarding career opportunities for students with strengths in mathematics, humanities or the sciences.

In studying economics, you will gain analytical skills vital to government, business and finance and international development.

Economists work with business, government or agencies to:

• Provide advice and forecasts on the impact of policy or changing market conditions on such things as interest rates, exchange rates and share prices

• Advise the best use of resources such as land, labour and capital to enable society to grow, develop and prosper

• Explain the consequences (trade-offs) from using resources to benefit different aspects of society as well as allowing us, for example, to determine trade-offs from using resources now or saving them for future generations

• Look at economic history to formulate ideas for predicting the likelihood of future economic events (like the global financial crisis), which can drive a country’s future economic success or help address economic misfortune

• Analyse problems associated with climate change, natural resources degradation and unemployment

• Help understand how and why individuals/organisations make the decisions they make

Topics studied in economics include:

• Microeconomics

• Macroeconomics

• Supply and Demand

• International Economics

• Behavioural Economics

• Development Economics

• Environmental Economics

• Health Economics

How does it differ from Commerce and Business?

Economics, Commerce and Business are complementary fields. Economics equips graduates with lifelong analytical skills that are transportable around the world. Commerce focuses on accounting and finance, while Business develops managerial skills.

FIVE MINUTES WITH AMY BEECH ECONOMICS HONOURS STUDENT, 2012 Question: What was your motivation to
FIVE MINUTES WITH AMY BEECH ECONOMICS HONOURS STUDENT, 2012 Question: What was your motivation to
FIVE MINUTES WITH AMY BEECH ECONOMICS HONOURS STUDENT, 2012 Question: What was your motivation to



Question: What was your motivation to study Economics?

During my first year at university, I went on

a trip to South America. I was struck by

the poverty in some regions – despite the apparent abundance of natural resources – and this triggered my interest in international development.

The next semester, I tried out an introductory macroeconomics course as an approach to understanding international development. The lecturer really grabbed my attention. I discovered that economics was very different and a lot more interesting than I had initially thought. It fascinated me how economics could answer a broad range of questions. The next year, I enrolled in a BEcon as a dual degree with the Bachelor of Arts (BA) I was already studying.

Question: What pathway did you follow to reach where you are now?

It took me a while to work out exactly what I

wanted to do. After high school, I took a gap year and spent six months in France.

Not knowing what kind of career I wanted, I enrolled in a BA. By my second year, I had settled with a dual degree in Economics and Arts, majoring in French and Spanish.

My Economics lecturers also encouraged me to do Honours and I knew that this would give me a strong advantage when I graduated.

In the last year of my undergraduate degree, I completed the Reserve Bank of Australia summer cadetship and was fortunate to be offered a graduate position, which I’ll take up when I finish my Honours year.

Question: What areas do you most enjoy about studying the Bachelor of Economics?

Economics provides a practical and logical approach to deal with many real- world issues. I’m particularly attracted to development economics and I find the diversity of theories and opinions in this area really interesting.

Question: Would you recommend UQ to year 12 students considering studying Economics?

Yes absolutely! Having an Economics degree from UQ is very highly regarded, especially if you complete Honours as well. The School provides a supportive learning environment:

in the first year, you can go to Peer Assisted Study Sessions (PASS), and the lecturers are always available and approachable.

Question: Why did you choose UQ to complete your studies?

UQ has a reputation as one of Australia’s top

universities and I felt confident that studying at the university would present me with plenty of opportunities after graduation.

I was also attracted to the beautiful campus and the sporting facilities.

Question: Where do you hope to be in 10 years’ time?

I would like to have a Masters or a PhD in

development economics. Eventually, I hope to work for an international organisation,

such as the World Bank or the United Nations Development Programme.

Typical daily timetable

8:00 am:

Drive to university and work on my thesis

10:00 am:

Coffee break with classmates and then back to the thesis

12:00 pm:

Lunch in the Great Court with friends

2:00 pm:

Lectures and tutorials for three hours

5:00 pm:

Hit the UQ gym or pool

6:30 pm:

Home time

Graph 1: What happens to UQ Economics graduates after graduation**PUBLIC SECTOR WORKING ABROAD PRIVATE SECTOR FURTHER STUDY OTHER 10% 10% 17% 17% 10% 10%

PUBLIC SECTORWhat happens to UQ Economics graduates after graduation** WORKING ABROAD PRIVATE SECTOR FURTHER STUDY OTHER 10%

WORKING ABROADto UQ Economics graduates after graduation** PUBLIC SECTOR PRIVATE SECTOR FURTHER STUDY OTHER 10% 10% 17%

PRIVATE SECTORgraduates after graduation** PUBLIC SECTOR WORKING ABROAD FURTHER STUDY OTHER 10% 10% 17% 17% 10% 10%



10% 10% 17% 17% 10% 10% 20% 20% 76% 76%
10% 10%
17% 17%
10% 10%
20% 20%
76% 76%


An economics degree from the UQ School of Economics is recognised globally. It is your ticket to a diversity of domestic and international career opportunities—careers you may not even know exist.

You will also find yourself among the most highly paid graduates from business-related disciplines.

Our graduates are highly sought after by all the big names in finance and banking – Deloitte, Ernst & Young, Macquarie Bank, the World Bank and the Reserve Bank of Australia – as well as by international development organisations such as the United Nations (UN) and the International Monetary Fund. Other key employers include the government, health and education sectors.

Following graduation, you could choose to be an analyst, policy advisor, consultant or economist in the public or private sectors. Alternatively, you might opt to be an investment banker, portfolio manager or, following further study, to become an academic researcher.

An economics degree can also lay the foundation for becoming a leader of business or government, a politician, UN official or entrepreneur and with ever more new applications of economics there are always new jobs emerging for economists.

** 2013 edition of The Australian Good Universities Guide

Key employment sectors

• Banking, finance and insurance

• Government (treasury, transport, health, agriculture & environment)

• International development or foreign affairs

• Management

• Academia

• Private consulting

Graduate salary ranges*, first year after graduation



Financial advisor/manager:


Intelligence/policy analyst:


Management/organisation analyst:


*Graduate Careers Australia

Studying economics can open doors to an exciting range of careers. Just look at what these UQ alumni have done.

of careers. Just look at what these UQ alumni have done. MEI LI ECONOMIST, QUEENSLAND INVESTMENT
of careers. Just look at what these UQ alumni have done. MEI LI ECONOMIST, QUEENSLAND INVESTMENT







Mei Li came to UQ to study economics as an exchange student from China. Mei was offered a scholarship to complete her studies at the University, and graduated with First Class Honours in 2008.

“After handing in my Honours thesis, I immediately started working as a Policy Officer at the Queensland Department of Mines and Energy.

“It was a new and interesting area. I conducted economic analysis and built numerical models to analyse a wide range of issues. I also got to learn about the energy market, emissions trading scheme and the LNG industry.

“The following year, I moved to Queensland Treasury in the Office of Economic and Statistical Research. This is the principal economic, demographic and social research

agency for the Queensland Government and our team does computable general equilibrium modelling.

“The work was challenging and stimulating, requiring a high level of analytical and mathematical skills, for which my UQ degree well equipped me.

“In late 2012, I took up a position as an economist with QIC, a leading institutional investment manager for sovereign wealth funds, superannuation funds and other institutional investors.

“Whether you decide to pursue an academic career or a career in the public sector, in banking, or in consulting, studying economics at UQ opens many doors to you and will lead you to a bright future.”

Career timeline:

2008: Policy Officer, Queensland Department of Mines and Energy

2009-2012: Mircoeconomist, Office of Economic and Statistical Research, Queensland Treasury

2012-present: Economist, QIC

EUAN MORTON Principal, Synergies Economic Consulting “I began my career as a solicitor, having studied
EUAN MORTON Principal, Synergies Economic Consulting “I began my career as a solicitor, having studied
Principal, Synergies Economic Consulting
“I began my career as a solicitor, having studied
a combined Commerce/Law degree at UQ.
However, while working as a solicitor, I began
studying economics part time. I graduated
with a Bachelor of Economics in 1992 and
completed Honours (First Class) in 1994.
“I thoroughly enjoyed studying economics at
UQ. The content was always interesting and
there was a huge range of subjects on offer.
The teachers were interesting, accessible and
they managed to stimulate my enthusiasm in
the field—an enthusiasm that continues many
years after I completed my studies.”
enjoyed studying economics so much I left
law in 1992 and joined Queensland Treasury,
where I worked on reforming government
businesses and implementing competition
policy. This led to a central role in creating
the Queensland Competition Authority (QCA),
where I took up a senior position. After
completing the QCA’s first major regulatory
review to create a competitive rail haulage
market for Queensland Rail, I became a
consultant and have been in that role for the
past 11 years.
Career timeline:
1989-1991: Solicitor
1992-1997: Queensland Treasury
1997-2001: Director, Queensland
Competition Authority
2001-2004: Executive Director, NECG
(Network Economics Consulting Group)
2004-present: Synergies Economic Consulting
IAN HARPER Partner, Deloitte Access Economics Ian Harper is a renowned Australian economist who works
Partner, Deloitte Access Economics
Ian Harper is a renowned Australian
economist who works closely with
governments, banks, corporates and leading
professional services firms. As a member
of the celebrated Wallis Inquiry, he was at
the forefront of financial market reform in
Australia and is a partner in Australia’s largest
private economics consultancy.
and the power of economic analysis to help
explain things I encountered in everyday life
and on the evening news.”
Career timeline:
1978: Master of Economics at ANU
1979-82: PhD in Economics from ANU
enrolled in a dual economics/law degree
at UQ in 1974 and completed a pass degree
1983-85: Research economist at Reserve
Bank of Australia
in economics in 1976. I was invited to join
the 1977 Honours year, and graduated with
1985-88: Lecturer in Economics at ANU
First Class Honours in economics and the
University Medal.
1988-08: Professor of Economics at University
of Melbourne/Melbourne Business School
loved studying economics and knew that a
2008-11: Director of Access Economics
career as an economist was what I sought. In
fact, I never considered doing anything else.
I enjoyed the rigour of economic argument
2011-present: Partner of Deloitte Access
THE UQ ADVANTAGE The University of Queensland is one of the world’s premier universities, ranking


The University of Queensland is one of the world’s premier universities, ranking in the top one per cent of universities globally and among the top three research-intensive universities in Australia.

As Queensland’s largest and oldest university, UQ has four main campuses, which provide focal points for more than 45,000 students.

UQ’s iconic St Lucia campus is set among lush grounds and sandstone buildings, just seven kilometres from Brisbane’s central business district.

Fast Facts

• UQ ranks as one of the world’s top 50 leading universities in the QS World University Rankings (2011/12)

• Maximum five-star ranking for student demand, research grants and research intensity in The Australian Good Universities Guide (2012)

• UQ ranked above the world standard in more fields of research than any other Australian university in the Excellence in Research for Australia (ERA) survey (2011)

• Ranked Top 6 in the Asia Pacific and Top 100 worldwide in the Shanghai Jiao Tong University Academic Ranking of World Universities (2012)

• Australian Group of 8 research intensive university – the only one in Queensland and member of Universitas 21 – one of only three Australian member universities

• In the Australian Graduate Survey 2012, the UQ full-time employment rate for bachelor degree graduates was 78.3 per cent (against the national figure of 74.1 per cent)

STUDENT PROFILE: Byron Hewson While studying a Bachelor Economics/Laws, Bryon Hewson has taken every opportunity


Byron Hewson

STUDENT PROFILE: Byron Hewson While studying a Bachelor Economics/Laws, Bryon Hewson has taken every opportunity offered

While studying a Bachelor Economics/Laws, Bryon Hewson has taken every opportunity offered by the School of Economics.

Bryon graduated from Economics in 2011 with First Class Honours. In addition to being involved in student organisations during his time at university – including a stint as the President of the UQ Economics Society – he also completed an overseas exchange and several internships with high-profile organisations.

“The UQ School of Economics provides everyday students with the most unique career and internship opportunities available. The benefits from engaging in academic exchange and internships are diverse.

“It exposes you to opportunities that you may not have previously contemplated and can extend the realm of possible paths available upon graduating from university.”

Bryon received the 2008 UQ Jubilee Scholarship to study economics at the Charles University in Prague.

Between 2009 and 2011, he went on to secure four overseas internships: working with the South Asian Human Rights Documentation Centre in Delhi, India; as an intern for Senator Chris Dodd at the United States Senate in Washington D.C.; at the Grameen Bank in Dhaka, Bangladesh; and with the UN Economic Commission for Africa in Addis Ababa, Ethiopia. In 2011, he also held a cadetship with the Reserve Bank of Australia.

Working as an intern, Bryon was responsible for an array of tasks. He researched legislation and wrote speeches in Washington; developed social business plans in Bangladesh; drafted reports on poverty and economic growth in Africa; and contributed to a UNESCO Annual Ministerial Review.


Jimmy Zeng

UQ Bachelor of Economics/Bachelor of Engineering graduate, Jimmy Zeng, has set his sights on the oil and gas sector after he landed a paid internship with Shell—one of the world’s largest companies.

While working with Shell, Jimmy’s core responsibilities included assisting with

a large-scale project and providing

commercial and statistical analysis support to the Reliability Group (economic and cost/benefit). In addition, he also had the opportunity to develop a working knowledge of downstream oil and gas processes as well as understanding and analysing technical, economic and commercial data.

“Most people ask what an engineer and an economist could possibly ever have in common, and the answer is critical thinking. Economics is a field of study that teaches you how to think critically about the world.

scarcity and what this meant in terms of commerce, government and society.

“Working with Shell Australia gave me the opportunity to combine both my economics and engineering training to help manage a scarce resource.

“The UQ School of Economics’ best feature is its ability to make you emerge even more enthusiastic than when you take your first step on campus! The skills that you develop equip you with the knowledge, skills and curiosity to succeed in the professional world.

“I can hardly imagine myself being where I am now without the UQ experience. I’ve been given a quality education, learning support, career advice and opportunities to network with like-minded individuals.”

opportunities to network with like-minded individuals.” “I about the world and the choices made under chose


about the world and the choices made under

chose to study it because I was curious


The UQ School of Economics is one of the largest, most influential and prestigious economics departments in Australia.

Founded in 1947, the School nevertheless has a rich heritage extending back for more than 100 years. Economics was one of UQ’s foundation disciplines and courses have been offered in the subject at the University since 1912.

Today, the School ranks among the top fifty* economics departments in the world that conduct and publish research. Its

challenging academic environment attracts the brightest and best students in Australia and abroad, with 1200 students enrolled

in the School, including more than 450

international students from 48 countries.

We offer a comprehensive Bachelor of Economics program – taught by nationally awarded lecturers – and one of the widest ranges of economics courses in Australia. The program allows you to pursue individual interests and professional specialisations with maximum flexibility and depth. In addition, UQ Economics underpins its undergraduate program with a high level of support that is constantly evolving to meet students’ needs.

Our undergraduate program is widely recognised by students and employers, such as the Reserve Bank of Australia, as providing “top quality undergraduate education in economics”.

We also deliver postgraduate programs at certificate, diploma, masters and PhD levels.

UQ Economics’ PhD and Honours programs produce outstanding graduates. Our Masters programs offer a broad range of specialisations and can be an alternative route to an MBA in the business/finance sector.

Leading edge research informs and enriches the School’s teaching programs, giving our students a perspective of innovation and agenda setting. Research is also the basis for our engagement with the wider community through joint discovery and consulting activities.

The School’s highly talented teaching and research staff undertake world-class research across a range of fields including economic theory, econometrics and environmental economics. Their research is published in top international journals.

STUDENT PROFILE: Nichola Kitson Bachelor of Economics and inaugural 2010 Centenary Scholarship winner. Our economists


Nichola Kitson

Bachelor of Economics and inaugural 2010 Centenary Scholarship winner.

Our economists are researching:

Ageing. Agribusiness. Agriculture. Climate change. Consumer behaviour. Communication. Crime. Drugs. Economic growth. Economic shocks. Education. Employment. Environment. Fiscal policy. Food pricing. Foreign debt. Global financial crisis. Happiness. Health. Housing. Inequality. Inflation. Interest rates. International completion. International development. Market design and regulation. Policy. Pollution. Poverty. Share trading. Taxes. Utilities and infrastructure development. World trade.

* In December 2012, RePEc ranked UQ Economics 43rd out of 1858 economics departments internationally. RePEc, is a collaborative effort of academics in 71 countries that ranks 10,700 institutions worldwide. It compares institutions and departments based on their economic research output and the impact of their publications. All RePEc materials, including complete details about the rankings, are available at

If you’re a high school student keen to make a difference in a world facing resource scarcity, environmental challenges and ongoing political unrest, I can’t recommend economics highly enough.

Studying economics opens doors wider than just the stereotypical banking industry—although there are of course plenty of opportunities relating to finance if that does tick your boxes!

Economists are hired worldwide for the way that they think and their ability to understand the real world. We can examine and break down the issues to challenge conventional ways of thinking.

The School also provides the most diverse range of electives available at any Australian university. Courses such as Development Economics and Environmental Economics give insights and fundamentals to go tangentially into a range of industries.

On top of this UQ boasts a great deal of sporting, social and academic clubs to enhance the university experience and many volunteering opportunities.

I was instantly attracted to UQ for the gorgeous campuses, outstanding reputation and worldwide connections.

At the UQ School of Economics you’ll learn a variety of invaluable skills that will stick with you for a lifetime, be it analytical, mathematical or political.

OUR PROGRAMS The UQ School of Economics offers an extensive range of programs from our
OUR PROGRAMS The UQ School of Economics offers an extensive range of programs from our
OUR PROGRAMS The UQ School of Economics offers an extensive range of programs from our


The UQ School of Economics offers an extensive range of programs from our Bachelor of Economics, to our flagship Honours program as well as a postgraduate coursework, postgraduate research and dual degree programs.

We deliver our courses in state-of-the-art teaching and learning facilities. In addition, the School also supports its students with online resources and programs, including a successful peer-assisted study program for first year students.


The Bachelor of Economics (BEcon) program at UQ equips graduates with the exceptional

analytical skills required to work on policy, resource allocation and decision challenges

in business, industry, government and

international development.

The program offers almost 60 courses, with

a diversity of specialised majors. This allows

you to tailor your degree and pursue individual interests while still gaining core economic skills from compulsory courses.

Study areas available include business economics, econometrics, environmental and resource economics, financial markets, labour economics, health economics, international trade and development, and the obligatory macroeconomics and microeconomics.

You will gain an in-depth understanding of the factors affecting economic performance, the business environment and the role and effectiveness of governments, while developing critical analytical and technical skills including cost/benefit analysis, statistics and econometrics—all highly sought after by private and public sector employers.

Key details

QTAC code: 714001- B Economics

Duration: 3 years full time • Part-time study equivalent

Domestic entry score*: OP7 • Rank 87 • ATAR 87.15 • IB 32

Domestic prerequisites: Queensland Year 12 or equivalent English and Mathematics B

Location: St Lucia campus

Delivery mode: Internal


* May change from year to year

Dual degree programs

The dual degree program at UQ gives you the flexibility to study two areas of interest simultaneously, and in less time than completing two degrees separately. The additional knowledge and skills gives graduates a competitive edge and broader career opportunities. To be accepted into the program, you must satisfy all entry requirements for both degrees.

The Bachelor of Economics is available as a dual degree with any of the degrees listed below. An economics major can also be undertaken in more than 20 degrees at UQ.

• Bachelors of Economics/Business Management

• Bachelors of Economics/Commerce

• Bachelors of Economics/Arts

• Bachelors of Economics/Science

• Bachelors of Economics/Engineering

• Bachelors of Economics/Laws

Delve into game theory

UQ Economics offers undergraduates the opportunity to learn more about game theory with the course ‘Introduction to strategic thinking’. This course teaches game theory as a framework of strategic considerations for making choices. You learn the tools for predicting the behaviour of people or organisations in strategic settings and apply these in settings from economics and other disciplines. You also get to play games!

“Economics gives you the tools you need to be able to make good decisions in business as well as in life. An economics degree also provides you with an understanding of how an economy works and how each part of the economy fits together.”

Euan Morton, Principal Synergies Economic Consulting

Majors and areas of specialisation

Develop in-depth skills and practical experience by choosing majors that are relevant to your desired career. A major consists of seven courses from the one area of specialisation.

Business and industry

If you want the challenges of a fast-paced career, this major is for you. Enhance your economic decision-making capabilities and learn how to apply them in the business sector, working to improve enterprises’ competitiveness and efficiency. Courses cover issues such as managerial economics, industrial and labour economics, the regulatory environment and benefit/cost analysis techniques. You will develop critical skills and understanding applicable to businesses across all sectors and industries.

Careers: industry bodies, government departments, consultancies and private enterprise.

Economics and public policy

In this multidisciplinary major, you will learn how governments develop public policy and how government intervention can have an impact on economies in an increasingly globalised world. You are taught the tools, concepts and techniques to both provide advice on the development of policy (such as taxation, education, health and transport) as well as how to evaluate existing policies. The core courses in public finance and regulatory economics emphasise the theoretical framework and rationale for government intervention. Elective courses include advanced microeconomics, macroeconomics, applied econometrics and political sciences.

Careers: public policy, government bodies, not-for-profits, private businesses and politics.

International trade and finance

International trade and finance are key factors affecting the Australian and world economies, and this major focuses on the economics and financial systems, mechanisms and emerging issues. You will develop an understanding of the complex nature of economics in the international environment and its close relationship with financial management firms. You will also gain the analytical skills for informing managerial and policy responses across governments and businesses on international trade and finance issues.

Careers: financial institutions, government agencies, consulting firms, Australian and international private companies.

Natural resources and environment

There is a growing ecological and economic appreciation of our diverse natural resources at the international, national and local levels. The effective and efficient use of these assets is a significant social and political issue. This major provides you with the analytical skills to analyse the economics associated with managing renewable and non-renewable national resources from marine and river systems to agriculture and minerals. You will understand and be equipped to deal with the challenges facing business, government and the community at large.

Careers: public policy, environmentally focused agencies, private business, mining and energy companies.

Quantitative methods

Quantitative methods will enable you to aid better decision-making and management by governments and businesses. You learn how to provide rigorous, evidence- based economic analysis that is verifiable and objective. The major has a strong mathematical and modelling focus, covering the measurement, analysis, projection and modelling for a diverse set of economic factors and scenarios. You can select courses in the areas of econometrics, benefit/cost analysis, advanced mathematical economics, business and economic decision techniques, and experimental economics.

Careers: research consultancies, management organisations, private business and government-orientated enterprise.

For more information visit: economics/undergraduate-programs

“My Economics Honours year at UQ was an amazing experience. It’s hard work, but I learned a lot. It opened up so many opportunities for me like getting to study at [New York University] one of the best universities in the US. Many of my classmates have gone on to work at all sorts of amazing places, and it’s only possible because employers everywhere recognise the quality of the program.”

Joshua O’Donnell, Bachelor of Economics (Hons I), 2011

Ben Young, pictured on campus at Princeton University


Ben Young

Bachelor of Economics (Hon I), 2011, and 2011 Archibald Scholarship winner

I didn’t study economics in high school so

I never really understood what economics

was about until my first semester at University when I was required to take an introductory course in microeconomics.

I’m now completing my doctoral studies in economics at Princeton University in the United States!

Economics appeals to me as it provides a framework to analyse decision-making by individuals. I also like the balance of conceptual ideas with the requirement to use technical tools from mathematics.

My experience at UQ prepared me for my PhD study overseas in many ways.

Learning from some of the leading academics in Australia gave me the solid knowledge foundation that I require to complete a US PhD program. The UQ Economics Honours year also dramatically improved my ability for analytical thinking as well as my ability to manage deadlines.

I had many great opportunities while studying at UQ such as tutoring and working as a research assistant for Head of School, Professor Flavio Menezes and Dr Shino Takayama.

In 2010, I was involved with the UQ Economics Society as Publications Officer — this was an extremely rewarding experience and I would recommend getting involved as an undergraduate student.

HONOURS PROGRAM The School’s Honours program provides an extra year of high quality study. This


The School’s Honours program provides an extra year of high quality study.

This stimulating and challenging program will enhance your applied and analytical skills as well as your knowledge of the economic research frontier.

You will thrive in the small classes in which lecturers promote vigorous and interactive discussion.

The program also provides training in economic research methods via a research project conducted under supervision by highly skilled academics.

Recent Honours graduates have been offered positions at the Reserve Bank of Australia and the Federal Treasury, Deutsche Bank, the Hong Kong Monetary Authority, the Commonwealth Department of Foreign Affairs and Trade and the Australian Energy Regulator as well as private consulting firms and companies such as Deloitte and the global engineering company AECOM.

The Honours degree is also an excellent basis for entry into PhD programs and our Honours graduates are studying on full scholarships at leading universities such as Harvard and Princeton.




• Graduate Certificate in Economics

• Graduate Diploma in Economics

• Graduate Diploma in Health Economics

• Master of Economics

• Master of Business Economics (Advanced)

• Master of Development Economics (Advanced)

• Master of Economics and Public Policy (Advanced)

• Master of Health Economics (Advanced)

• Master of International Economics and Finance (Advanced)

The School’s postgraduate course work programs give graduates the skills to succeed in a dynamic and an increasingly competitive environment. Obtaining a higher qualification in economics from UQ is a career investment.

Core courses cover basic economic principles, concepts and techniques, while elective courses focus on specific areas, including international trade; environmental and natural resource management; health; public sector management; business economics; and economic modelling.

Students graduate equipped with advanced analytical skills, critical thinking and a deeper knowledge of the latest economic literature in their chosen fields of study.

For more information visit:



The Economics of Climate Change

The UQ School of Economics is one of the few departments to offer a postgraduate course in the economics of climate change. In this course, you will develop a greater understanding of the problem of climate change and the theoretical economic solutions to combating climate change. You will present climate change mitigation actions in an economic context and discuss future climate policy issues.


• Doctorate of Philosophy (PhD)

• Masters of Philosophy (MPhil)

For more information visit:





Bachelor of Economics (3 years) High achieving graduates are able to enter the Honours program.

Bachelor of Economics (3 years) High achieving graduates are able to enter the Honours program.  

UQ Economics Honours (1 year)

UQ Economics Honours (1 year)    

Postgraduate research programs First Class Honours or an MPil is required for entry into a PhD program.


Master of Philosphy (2 years)

Master of Philosphy (2 years)

PhD (-3 years)

PhD (-3 years)  


Postgraduate coursework programs

(-3 years)   Career Postgraduate coursework programs Graduate Diploma Coursework Masters STUDY FOR YOUR PHD






The UQ School of Economics actively encourages its graduates to pursue PhDs abroad.

Between 2009 and 2012, eight UQ Economics Honours graduates took up full scholarships and PhD placements with North American universities, including Harvard, Princeton, the University of Michigan, Northwestern University, the University of California San Diego and New York University.


To attract the best and brightest students from around Australia and internationally, the UQ School of Economics offers several prestigious scholarships, school prizes and bursaries for domestic and international students. These are awarded at the discretion of the Head of School and the relevant committee.

For more information on any of the scholarships, prizes or bursaries listed in this booklet, visit: scholarships-prizes-bursaries



The School of Economics understands that financial assistance can make a world of difference, which is why we offer undergraduate and postgraduate scholarships for domestic and international students.

All applicants who apply are considered for a UQ scholarship. Scholarships are awarded competitively based on academic merit and the student’s motivation to study economics.

The Archibald scholarship

Founded in 1911, the Archibald Scholarship encourages and rewards the study of Economics at UQ. Only students currently enrolled in the School’s Economics Honours program are eligible for this Scholarship, and they must be invited by the Head of School to apply for the Archibald based on merit in two courses.

Scholarships for international students

• Latin America (undergraduate or course works masters program)

• Brazil (undergraduate or coursework masters program)

• Malaysia (undergraduate or coursework masters program)

• Vietnam (undergraduate or coursework masters program)

• Year 12 Onshore International

• Foundation Year

• Centenary Scholarship

Scholarships for domestic students

• Year 12

• The Jubilee Scholarship (for one semester studying economics at a UQ partner institution overseas)

Indigenous scholarships

• Year 12 Indigenous

• Postgraduate coursework


The School’s economics prizes are awarded on the recommendation of the Head of School following publication of academic results.


• Queensland Competition Authority Prize

• The Economic Society Prize

• The Australian Finance Conference Prize

• McGraw Hill Prize

• Pearson Prize

• The Marsden Jacob Prize In Memory Of Dr Tony Hand


• The Synergies Consulting Honours Prize

• ACCC Economics Honours Prize

• PricewaterhouseCoopers Economics Honours Prize


The School of Economics bursaries are for current students only.

• Warren Braxton Bannister Bursary

• Tomas Riha Bursary (for study abroad)



The UQ Economics Society (UQES) is a student organisation, helping to bridge the gap between academia, the corporate community and students.

The Society provides a mix of professional, social and sporting events and services to immerse students in the campus experience as well as make the most of career opportunities. To help students successfully integrate theory and practice, UQES prompts ‘real world’ exposure and regularly distributes information on internships and graduate programs.

In Semester I each year, UQES holds its flagship event, the Careers and Cocktails evening. This event provides an opportunity for students to meet with high profile corporate partners. In addition, the Society also produces an annual Careers Guide detailing intern and career opportunities, and a First Year’s Guide to help new students settle in.

Working with industry: internships and work experience

The School of Economics strongly encourages its undergraduate students to gain professional experience before graduation, via either work experience or internships. We recommend you proactively research and apply for work experience or internships in your favoured career path.

Internships offer you a valuable opportunity to explore your career options and gain hands-on experience in your field of choice. They are also critical for developing ‘soft’ skills, in leadership and management, and for building your professional network.

You can register for information on the UQ internship program through UQCareerhub. The UQ Economics Society also promotes internship opportunities.

For more information visit:

“Studying economics opens up

a whole range of opportunities, both domestically and abroad.

They say money makes the world go round, but economists know it’s really

perceived costs and benefits that have the final say, and

if you ask me, the benefits

of studying economics far

outweigh the costs!”

Rachel Fitzpatrick, Bachelor of Economics/Bachelor of Arts


UQ and the School of Economics offer economics undergraduates a range of options for studying overseas. You also have the opportunity to gain valuable work experience as an intern with a foreign government, agency or multinational.


The UQ Abroad/Exchange program offers students the exciting experience of studying overseas for up to one year on exchange while gaining credit towards your UQ degree.

The University has agreements with 175 universities in 39 countries around the world, including the US, UK and France, while the School of Economics engages in several active international collaborations with other leading institutions, providing support for students to pursue study or joint research opportunities.

UQ Abroad Phone: (07) 3365 9075 Email:


Spending part of your degree overseas can be a highly rewarding experience, both professionally and personally. Some of the benefits of having overseas study or work experience include the following.

Professional benefits

• Broaden the scope of your degree

• Gain a different perspective on your field of study

• Discover new career opportunities

• Improve your foreign language skills

Personal benefits

• Experience a different culture first-hand

• Increase your understanding of the world and gain a global outlook—a quality highly regarded by employees

• Make life-long friends from different parts of the world

• Learn more about yourself and your capabilities

• Study and gain employment overseas


To help you study abroad, you can learn a new language while studying at UQ. The Institute of Modern Languages (IML), a centre within the UQ Faculty of Arts, offers courses in more than 25 languages at beginner to advanced levels. While no formal entry requirements are needed for an IML course, it is not counted towards your degree. Students can also study a Concurrent Diploma in Languages. This can be undertaken over an accelerated period or spread across the duration of their bachelor degree.

IML Phone: (07) 3346 8200 Email:

UQ’s strong international connections act as doorways into global classrooms, they allowed me to attend

UQ’s strong international connections act as doorways into global classrooms, they allowed me to attend the 2012 Universitas 21 Social Entrepreneurship Program in Guatemala, before attending the 24th International Youth Leadership Conference held in Prague.

This was an opportunity to contextualise and extend my studies. I learnt first-hand about working in a globalised world and gained an appreciation of the complex factors underlying different cultural perspectives. It illustrated to me how important it is to contextualise economic analysis, and gave me insight as to how this might be achieved.

Lucille Danks, Bachelor of Economics and Diploma of Global Issues


Annie Xu

For fifth year UQ Bachelor of Economics/Laws student, Annie Xu, a semester exchange at the University of Virginia was a life changing experience.

“Becoming an American college student – a senior (fourth and final year) majoring in economics – was like living an American college movie,” said Annie.

“Academically, I was exposed to exciting new opportunities and ways of teaching. Our ‘lectures’ were classes of 30 people and my

professors were among the most distinguished in their field. I even had the opportunity to prepare and deliver a proposal to World Bank officials!

“I took up opportunities to travel:

frequenting Washington DC and New York City, and visiting Boston, Philadelphia and Toronto.

“I also made many American friends and attended fraternity parties, sorority events, classy evening drinks and spent countless weekends with other college students who took any excuse to party.

“Going on exchange was the best and most profoundly life-changing experience I’ve ever had. I’m more independent and capable and a globally-aware citizen.”




To gain admission to undergraduate programs, you must satisfy prerequisites and have a sufficient entry score. However, there are alternative pathways for entry, enabling you to upgrade your score. See Alternative entry or Improving an entry score (upgrading).


Subject prerequisites are the Queensland Year 12 subjects required for individual programs. You may also gain admission to programs with subject equivalents from interstate or overseas schooling, external senior studies, or tertiary studies. The prerequisites for a Bachelor of Economics are the Queensland Year 12 (or equivalent) English and Mathematics B.


Entry scores include OP and ranks. Eligible applicants are selected for admission to a program in order of merit based on entry scores, starting from the highest score until the program quota is filled.

The minimum OP or rank required for entry varies from year to year and is determined once applications have been processed and places allocated. While it is difficult to predict the required OP or rank, you can use the previous year’s cut-off point as a guide.


If you are from a non-English-speaking background, you must provide evidence of English proficiency. This may be achieved through a pass in Queensland Year 12 English (or interstate equivalent) or by other means, as outlined in the Entry Options booklet available from UQ Admissions.


If you did not complete Year 12, did not achieve a high enough entry score for

your preferred program, or are a mature- aged applicant, there are alternative entry pathways to UQ. Contact UQ Admissions for advice on these alternatives.


If you are not offered a place in your preferred program, you can improve your entry score or meet subject prerequisites by accepting an offer in a lower preference program. This process is called upgrading. For information about other ways to improve your entry score, please contact UQ Admissions.


If you are of Australian Aboriginal and/or Torres Strait Islander descent, or have suffered financial hardship or severe disadvantage beyond your control that has affected previously satisfactory results, you may be eligible for special entry to UQ. Contact UQ Admissions for more information.

UQ also offers Year 12 high school students bonus points towards their entry score for completing certain approved subjects through the Bonus Rank Scheme.


UQ’s Enhanced Studies Program (ESP) provides high-achieving secondary school students with an opportunity to extend their studies in an area of interest and to “test drive” university life. Students accepted into the program can study one UQ course (subject) during Semester One of Year 12. Students who successfully complete the program will be eligible to receive one bonus point towards their university entrance rank through UQ’s Bonus Scheme. Most ESP students who later enrol in a relevant UQ degree also receive credit for their completed course. ESP study counts towards your Queensland Certificate of Education (QCE). For more information, visit


You can apply for admission to undergraduate programs at UQ through the Queensland Tertiary Admissions Centre (QTAC). The closing date for application varies each year. Contact QTAC for more information.

Current Year 12 students: lodge an application online through QTAC’s Twelve to Tertiary (TTT) web application service at

International students studying Year 12 in Australia: visit international/ausyear12 for more information on application procedures and entry requirements

Other prospective students: lodge an online application using QTAC’s Apply by Web service at


Once you have been offered a place in a UQ program, you can formally accept the offer by lodging a response with QTAC. You can then enrol at UQ by using the UQ link from QTAC’s Current Applicant online service. The UQ enrolment website ( provides information about the enrolment process.

QTAC Phone 1300 GO QTAC (1300 467 822)

UQ ADMISSIONS Email Phone (07) 3365 2203

International Admissions Section:

Queensland Year 12 students:

(07) 3346 7375

Interstate Year 12 students:

1800 671 980

INTERNATIONAL STUDENTS Each year, more than 8500 international students from 120+ countries call UQ home.



Each year, more than 8500 international students from 120+ countries call UQ home. UQ provides extensive services to help enrich your study experience in Australia.

You are an International student if you are a:

• Temporary Resident (visa status) of Australia

• Permanent Resident (visa status) of New Zealand, or

• Resident or Citizen of any other country.


For admission into undergraduate programs at UQ, you must have:

• completed recognised upper secondary or equivalent Year 12 studies to the required standard

• satisfied individual program requirements, such as specific subject prerequisites, auditions or interviews, and

• satisfied English language requirements.

If you do not meet these criteria, consider taking the Foundation Year bridging course offered by International Education Services (IES) or English language training offered by the Institute of Continuing and TESOL Education (ICTE).


If you are an international student currently studying overseas at an accredited university, you can study at UQ for one or two semesters as part of the Study Abroad program. If another university has an exchange agreement with UQ, you can study at UQ as an exchange student for one or two semesters.


When you apply for a student visa, the Department of Immigration and Citizenship (DIAC) may ask you for evidence that you have sufficient funds to complete your studies. You will need to consider expenses such as visa and medical (pre-departure) fees, tuition fees (for full degree or study abroad fees), general living expenses (around $18,000-$22,000 a year), return airfares, and Overseas Student Health Cover (OSHC).

Fee-paying students pay tuition fees based on the courses they undertake, regardless of the program in which they enrol.

Fee information:

Fee calculator:


UQ’s International Student Advisers can help you quickly settle into life as a UQ student. They provide an official welcome

into life as a UQ student. They provide an official welcome program to UQ as well

program to UQ as well as a range of services including information on planning for your arrival, airport pickup, assistance in finding temporary accommodation, orientation and academic preparation sessions. They can also answer your questions about health services, family matters, schooling or childcare, social events, and cultural or religious organisations.




For more information on applying to UQ, download the UQ Guide: International Undergraduate Students at

Contact details

International Recruitment Manager Email (online enquiry form): Phone +61 3 8676 7004 (outside Australia) 1800 671 980 (within Australia)







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Master of International Economics and Finance

After completing a Masters in Economics at UQ, Cuc secured a position in the marketing department of Wrigley—one of the world’s

leading chewing gum companies.

“I chose to study my Masters at UQ because the University is among the top universities in Australia and the School of Economics ranks very high. It also has an excellent scholarly environment.

“Another driver was the campus being located in Brisbane, which is a peaceful city with wonderful weather and nice people.

“I have to say that I’m very happy with choosing UQ as I was provided with great support from professors and lecturers; excellent services; abundant study resources; and the opportunity and flexibility to learn at my best.

“The exercises and projects assigned were realistic and close to current business situations, which helped to enrich my knowledge and satisfy my passion for learning and practice.

“I now have a wider business view and deeper business sense, especially of the financial perspective. The program also enhanced my analytical and critical thinking allowing me to make business decisions quickly and rationally.”




Graduate or former student of an educational institution.

Bachelor degree


qualification awarded for the first level


study undertaken at university, typically

requiring three to five years of study (also known as an undergraduate degree program).


The site at the University where a program

is conducted. UQ has four campuses: St

Lucia, Gatton, Herston and Ipswich. Many other locations are also used for teaching and research.

Compulsory course (or core courses)

A course that must be passed in order to

complete the requirements of a particular program.

Course (formerly known as subject)

A distinct unit of study within a program

(similar to a subject at school), normally undertaken over one semester for which a result is given. Each course is identified by its alphanumeric code, a title and a fixed unit value. Full time students usually study four courses per semester.

Doctor of Philosophy (PhD)

Postgraduate research award program usually undertaken over a period of three to four years. The program includes research thesis involving at least two-thirds of the work for the degree. Entry requires a bachelor degree with a minimum of honours class IIA or equivalent.

Domestic student

A student who is an Australian citizen or

permanent resident or a New Zealand citizen.

Dual program

A combination of two UQ degree programs

undertaken at the same time. These are also known as parallel degrees, combined degrees or double degrees.


Courses you can choose to study from a wide variety of disciplines, which, when added to the compulsory (required) courses, enable degree requirements to be met.

Entry scores

Undergraduate students are assigned an entry score based on high school studies or

other post-secondary studies. Students who complete high school studies in Queensland are assigned an Overall Position (OP). Year 12 students in other Australian states are assigned an Interstate Index (ITI). All other students are assigned a rank. Once a student has completed a full year of study

at UQ, their OP or ITI is converted to a rank

based on Grade Point Average (GPA).


A program where students at approved

overseas universities study at UQ as part

of their home university degrees, or where

UQ students study at an approved overseas university for one or two semesters as part of their UQ degrees.


A major organisational unit within UQ,

with responsibility for academic programs; Faculties may have several sub-faculty academic units called Schools. The head of

a faculty is called an Executive Dean.

Grade Point Average (GPA)

The average grade of your results, weighted by the unit value of each course. GPA is determined on a semester basis and ranges from 1 (lowest) to 7 (highest).


An Honours degree can be awarded based

on overall performance in specific years

or courses of the program. Alternatively,

some programs such as The Bachelor of Economics program require an additional year of advanced, more specialised study for students to be awarded an honours degree, with the class of honours awarded on academic performance during the three-year bachelors program.

International student


student who is not an Australia citizen


permanent resident nor a New Zealand

citizen, and is enrolled or proposes to enrol

at an institution in Australia; Temporary

residents of Australia are also classified as international students.

International Baccalaureate (IB)

A pre-university diploma program.

Major/Extended/Dual Major

A major or extended major is an area of

specialised study within a program, for example chemistry. A major, extended major,

or dual major may be a formal requirement in

a program.


A small group of courses in a discipline. A

minor is worth about half the value of a major.

Overall Position (OP)

An OP is assigned to students who complete Queensland Year 12 studies in a certain number of subjects required by the Queensland Studies Authority.

Postgraduate programs

Studies normally undertaken after the completion of an undergraduate degree, or

in some cases, on the basis of relevant work

experience. Postgraduate programs include graduate certificates, graduate diplomas, masters and doctorates.


A sequence of study involving enrolment,

study and graduation, normally awarded with

a qualification such as a bachelors degree, graduate diploma or certificate.

Program code


unique identifying number assigned by UQ


a program.


The Queensland Tertiary Admissions Centre (QTAC) is the central admissions body for all Queensland undergraduate programs.


Allocated to university applicants who are not current year 12 students in Queensland

(OP eligible). Entry ranks range from 1-99, with 99 being the highest obtainable. Rank

is usually determined by academic results in

the highest level of study completed.


The UQ teaching year is divided into three semesters: Semester I, Semester 2 and Summer Semester. Most programs only require students to be enrolled in Semesters 1 and 2 each year.

Study abroad

A program where students enrolled at an

overseas university study at UQ for one

or two semesters as part of their home

university degrees.


The value of a course. Most courses at UQ are worth two units but some are higher.


CRICOS Provider Number 00025B

“Economics teaches us how the real world works and how the systems we live in operate. It’s a powerful thing to get a level of understanding about what’s happening in our lives that most people just don’t have.”

Dr James Laurenceson, Senior Lecturer, UQ School of Economics

James Laurenceson , Senior Lecturer, UQ School of Economics School of Economics The University of Queensland

School of Economics The University of Queensland

ADDRESS Level 6 Colin Clark Building (39) Blair Drive The University of Queensland St Lucia Queensland Australia 4072

University of Queensland St Lucia Queensland Australia 4072 GENERAL ENQUIRIES Telephone +61 7 3365 6570 Facsimile
University of Queensland St Lucia Queensland Australia 4072 GENERAL ENQUIRIES Telephone +61 7 3365 6570 Facsimile
University of Queensland St Lucia Queensland Australia 4072 GENERAL ENQUIRIES Telephone +61 7 3365 6570 Facsimile

GENERAL ENQUIRIES Telephone +61 7 3365 6570 Facsimile +61 7 3365 7299 Email

PROSPECTIVE INTERNATIONAL STUDENTS Telephone 1800 671 980 (free call within Australia) +61 3 8676 7004 (International) Email