Economic History

At least 36 units consisting of:

Economics

At least 36 units consisting of:

• ECON1101 Microeconomics 1
• ECON1102 Macroeconomics 1 or ECON1100 Economics 1 (H)
• ECON2101 or ECON2111 Microeconomics 2 [(P) or (H)]
• ECON2102 or ECON2112 Macroeconomics2 [(P) or (H)]
• ECON3101 Microeconomics 3
• ECON3102 Macroeconomics 3

Finance

At least 36 units consisting of:

• EMET1001 Foundations of Economic and Financial Models
• FINM1001 Money, Markets and Finance
• FINM2001 Corporate Finance
• FINM2002 Financial Instruments and Risk Management
• FINM3001 Investments
• FINM3002 International Financial Management

International Business

At least 36 units consisting of:

• BUSN1002 Accounting Processes and Systems
• ECHI1005 Business and Economy in the Asia Pacific Region
  or
  ECHI1006 Australian Economy
• FINM3002 International Financial Management
  or
  BUSN3015 Corporate Strategy
• BUSN3018 or BUSN3019 International Business [(P) or (H)]

And any two of the following:

• FINM2001 Corporate Finance
• ECON3006 or ECON3016 Financial Economics [(P) or (H)]
• ECHI3005 or ECHI3015 Development of Capital Markets [(P) or (H)]
• ECHI2010 or ECHI2020 Development of Modern Business [(P) or (H)]
• BUSN2023 or BUSN2024 Dynamics of Asian Business [(P) or (H)]

Management

At least 36 units consisting of:

• BUSN1002 Accounting Processes and Systems
• STAT1008 Quantitative Research Methods
• BUSN2010 Marketing
  or
  BUSN2011 Management Accounting
• BUSN2007 Organisational Behaviour
• BUSN3015 Corporate Strategy

And any one of the following:

• BUSN3003 Management Decision Making
• BUSN3013 Organisational Performance Management
• BUSN3016 Business Ethics
• BUSN3017 Environmental Accounting and Reporting
• ECON2009 or ECON2059 Labour Economics and Industrial Relations [(P) or (H)}
• STAT3014 Managerial Decision Analysis

Marketing

At least 36 units consisting of:

• ECON1101 Microeconomics 1
• ECON1102 Macroeconomics 1 or ECON1100 Economics 1 (H)
• BUSN2010 Marketing

And any three of the following:

• BUSN2021 or BUSN2022 Consumers and Consumption in the Modern Economy [(P) or (H)]
• ECON3012 Marketing Models
• STAT2003 Marketing Research Methods
• STAT3005 Advanced Marketing Research Methods

Bachelor of Actuarial Studies

Accounting and Financial Management COMM1020
(6 units)

First semester

At least three contact hours per week

Prerequisite: COMM1010 Financial Accounting Fundamentals or BUSN1001 Business Reporting and Analysis

Incompatible with BUSN1002 Accounting Processes and Systems

Syllabus: The course extends the material in Financial Accounting Fundamentals and provides an introduction to cost concepts and applications, and to the accounting techniques employed by managers in decision making and analysis. The time value of money is used as a basis for principles of financial management and investment decisions. Topics include: a comparison of financial and management accounting; cash flow statements; accounting for inflation; cost behaviour and estimation; cost-volume-profit analysis; relevant costing; financial statement analysis and cost accounting procedures; accounting for long term liabilities.

Accounting Processes and Systems BUSN1002
(6 units)

Second semester

At least three contact hours per week.

Prerequisite: BUSN1001 Business Reporting and Analysis or COMM1010 Financial Accounting Fundamentals.

Incompatible with COMM1020 Accounting and Financial Management.

Syllabus: The course extends the material in Business Reporting and Analysis. It provides detailed understanding of the technical aspects and concepts used in producing financial and management accounting reports. This includes cost assignment methods, the application of accounting standards and double-entry accounting systems for recording and reporting financial transactions.

Topics include: using journals and ledgers; application of accrual accounting; computerised accounting systems; methods of income measurement and asset valuation; accounting for debt; applying the principles of internal control; an introduction to accounting for partnerships and companies; methods of assigning costs to production.

Australian Economy ECHI1006
(6 units)

Second semester

Two lectures and one tutorial per week.

Prerequisite: None.

Syllabus: The course aims to explain and assess the functioning of the Australian economy. It is intended for students who are seeking a broad understanding of how the economy works. Emphasis will be placed on the related topics of current economic issues, institutions and policies. The approach adopted will emphasise that the present Australian economy needs to be seen in the context of the historical pattern of development and change. While the course deals primarily with economic factors, important social and political circumstances will also be taken into account.

Business and Economy in the
Asia-Pacific Region ECHI1005
(6 units)

First semester

Two lectures and one tutorial per week.

Prerequisite: None.

Syllabus: This course surveys the recent changes in Australia's position in the international economy, in particular in the light of the increasing influence exerted by the rapid economic development in East Asia and by growing economic cooperation across the Asia-Pacific region. It familiarises students with the foremost countries in the region and the main changes the economies of these countries have undergone during recent decades. The course also discusses recent developments in several economic sectors in the region, which have an important bearing on the Australian economy. Finally, the course introduces students to several practical issues related to the conduct of business in the Asia-Pacific region, such as forms of foreign investment, corporate organisation, public institutions and business environment.

Business Reporting and Analysis BUSN1001
(6 units)

First or second semester

At least three contact hours per week.

Prerequisite: None.

Incompatible with COMM1010 Financial Accounting Fundamentals.

Syllabus: The course focuses on the nature and ambit of business reporting. The course examines the financial information needs of business decision makers, and the production and analysis of financial statements. Students acquire an understanding of accounting concepts and the ability to apply basic financial decision tools. The time value of money is used as a basis for principles of financial management and investment decisions. Topics include: understanding the relationship of business reporting to the social and economic environment; the nature of historic cost accounting; the principles and construction of financial statements; accounting for different business forms; analysis and interpretation of financial statements; identifying and measuring costs for practical business decisions; and evaluating investment opportunities.

Economics 1 (H) ECON1100
(6 units)

Second semester

Lectures and tutorials as for ECON1102 Macroeconomics 1 plus one additional lecture and tutorial per week.

This course may be taken as an alternative to ECON1102 Macroeconomics 1 and satisfies all prerequisites that would be satisfied by that course.

Prerequisite: ECON1101 Microeconomics 1.

Incompatible with ECON1102 Macroeconomics 1 and ECON1001/1011 Economics I (P or H).

Syllabus: Economics 1 (H) includes the same syllabus as Macroeconomics 1, with an additional lecture and tutorial per week in which the theoretical treatment of microeconomic behaviour presented in Microeconomics 1 is supplemented and applied to a range of topics (for example, the application of economics to the understanding of political, legal and social institutions and decision making). The course is designed for better performing students who want to extend their exposure to economics beyond that offered in the standard first year courses in microeconomics and macroeconomics.

Proposed assessment: As for ECON1102 Macroeconomics 1 plus an additional end-of-semester examination.

Foundations of Electronic Commerce and Information Systems INFS1001
(6 units)

First semester

At least three contact hours per week.

Prerequisite: None.

Incompatible with INFS2012 Business Information Systems.

Syllabus: This course provides students with sound working knowledge of the basic principles and applications in information systems, information systems mechanics, social implications of information systems, systems development and acquisition methods. Topics include systems theory, IS/IT mechanics (software and hardware), IT in society, IS trends, e-commerce, IS acquisition, project management and ethics.

Foundations of Economic and Financial Models EMET1001
(6 units)

First or second semester

Three lectures and one tutorial per week

Prerequisite: None.

Incompatible with STAT1006 Quantitative Methods for Business and Economics 1.

Syllabus: This course is concerned with the application of mathematical techniques to problems in economics, business, and finance. Particular applications include: solving systems of equations such as supply and demand models and input-output models; discounting and present value calculations in finance; optimisation problems such as profit maximisation and cost minimisation.

Introduction to Actuarial Studies STAT1031
(6 units)

First semester (May not be offered in 2002)

Three lectures and one tutorial per week

Prerequisites: None.

Syllabus: The role, purpose and capabilities of actuaries. Real world actuarial anecdotes. Introduction to the financial services market in Australia: characteristics both quantitative and qualitative, products sold in both retail and wholesale financial markets. Extensions of senior mathematics to include differential and integral calculus, Taylor series and basic matrix algebra. Time value of money. Random variables, expectation, variance with applications to actuarial problems.

Introduction to Commercial Law BUSN1101
(6 units)

Second semester

At least three contact hours per week.

Prerequisite: None.

Incompatible with COMM1101 Introduction to Commercial Law, LAWS1204 Contracts, LAWS2101 Introductory Business Law, LAWS2210 Commercial Law and ENGN4003 Engineering Law.

Syllabus: This course provides an introduction to the Australian legal system and laws regulating business activities. Particular focus is given to contract law and consumer protection. Other topics include: property and security transactions; banking law; bankruptcy law and negligence issues relevant to financiers, accountants and auditors.

Introduction to Programming and Algorithms COMP1100
(6 units)

First semester

Assumed knowledge: a level of knowledge of mathematics comparable to at least a major in Advanced Mathematics in the ACT, NSW HSC 2-unit Mathematics or equivalent is assumed.

See entry in the Faculty of Engineering and Information Technology section of this Handbook.

Macroeconomics 1 ECON1102
(6 units)

Second semester

Three lectures a week with tutorials

Prerequisite: Completion of or concurrent enrolment in ECON1101 Microeconomics 1.

Incompatible with ECON1001/1011 Economics I (P or H).

Syllabus: Macroeconomics is concerned with the operation of the economy as a whole, with attention paid to such things as unemployment, inflation, and interest rates, determination of the level of national income, savings and investment, and the exchange rate and the current account of the balance of payments. The course develops a consistent model of the economy to explore the interactions of key macroeconomic markets and variables and to examine the impacts of different kinds of shocks to the economy and the role of government budgetary and monetary policy in influencing the level of economic activity.

Microeconomics 1 ECON1101
(6 units)

First or second semester

Three lectures a week with tutorials.

Prerequisite: None.

Incompatible with ECON1001/1011 Economics I (P or H).

Syllabus: The course examines the way in which scarce resources are allocated in market economies. Commencing with an analysis of consumer demand, it discusses the gains from market exchange and develops the model of market supply and demand that is subsequently employed to examine the effects of taxes, subsidies, and other government interventions in market activity. Cases in which private markets may yield socially sub-optimal outcomes are examined and the role of government policy in correcting for these is discussed. The role of firms in coordinating production, and the differences between competitive and non-competitive market equilibria, are also considered. Some attention is paid to the role of capital markets in allocating resources over time.

Money, Markets and Finance FINM1001
(6 units)

Second semester

At least three contact hours per week

Prerequisites: None.

Syllabus: This course introduces students to the financial system. It complements existing offerings in the area of finance. The aim of the course is to provide students with introductory exposure to financial transactions, institutions and markets including money markets, stock markets, foreign exchange, derivative markets and contracts. By the end of this course, students are expected to have attained a sound working knowledge of the basic principles and applications in the following areas: financial systems, financial markets, interest rates and financial instruments.

Quantitative Research Methods STAT1008
(6 units)

First or second semester

Three lectures and one tutorial per week

Prerequisites: None.

Incompatible with STAT1007 Quantitative Methods for Business and Economics 2 and STAT1003 Statistical Techniques.

Objective: To provide basic training in the gathering, description and analysis of quantitative information in the social, business, management and financial sciences.

Syllabus: This is a course in basic research methods including discussions of: data gathering issues and techniques; sources of data and potential biases; graphical and numerical data description techniques including simple linear regression and basic time series; sampling behaviour of averages and the Central Limit Theorem; point and interval estimation procedures; concepts in hypothesis testing for comparing two populations, simple linear regression and contingency table data; p-values and significance levels; and, non-parametric rank-based procedures.

Statistical Techniques STAT1003
(6 units)

First or second semester

Three lectures and one tutorial per week.

Prerequisites: None.

Incompatible with STAT1007 Quantitative Methods for Business and Economics 2 and STAT1008 Quantitative Research Methods.

Not available to students in the BActS, BComm, BeComm, BEc and BFin programs.

Objectives: This course introduces students to the methods and philosophy of modern statistical data analysis and inference, with a particular focus on applications in the life sciences.

Syllabus: Using tables to organise and summarise data; using graphics to present statistical information; measures of location and spread for univariate distributions. An introductory discussion of: normal and binomial distributions; sampling distributions; inference from small and large samples; confidence intervals; hypothesis testing in one- and two-sample cases; p-values; linear regression models and Analysis of Variance. Examples and applications will be drawn extensively from the life sciences, particularly Biology. The course has a strong emphasis on computing and graphical methods, and uses a variety of real-world problems to motivate the theory and methods required for carrying out statistical data analysis. The course makes extensive use of the Macintosh-based JMP statistical analysis package (previous experience with Macintosh computers is not required).

Understanding Economic Behaviour: Microeconomics for Social Scientists ECHI1105
(6 units)

Not offered in 2002

Two lectures and one tutorial per week.

Not available to students enrolled in the Faculty of Economics and Commerce. Course details are contained in the Faculty of Arts section of the Handbook.

Understanding Economic Policy:
Macroeconomics for Social Scientists ECHI1106
(6 units)

Not offered in 2002

Two lectures and one tutorial per week.

Not available to students enrolled in the Faculty of Economics and Commerce. Course details are contained in the Faculty of Arts section of the Handbook.

Accounting Theory BUSN3001
(6 units)

First semester

At least three contact hours per week.

Prerequisites: BUSN2015/ COMM2015 Company Accounting.

Incompatible with COMM3001 Accounting Theory.

Syllabus: The course engages students in critical analysis of the major approaches to the formulation of an accounting theory. The features, similarities, differences and merits of the traditional, regulatory, events, behavioural, human information processing, predictive, positive and critical approaches are discussed and evaluated. Proposals for a conceptual framework for financial accounting, and the structure of an accounting theory, are analysed. At the conclusion of the course students will have read widely and will have acquired a deeper and more critical appreciation of what defines contemporary accounting practice, and more importantly, what it is that should define the nature, scope and future of accounting. Students will be encouraged to challenge the conventional wisdom of accounting and to highlight the idiosyncrasies, solecisms and artefactual nature of accounting.

Actuarial Control Cycle 1 STAT4031
(6 units)

First semester

Four hours per week of lectures and/or tutorials.

Professional actuarial course for the Honours year of Actuarial Studies Degree.

Prerequisites: Enrolment in ACST4004 Actuarial Studies IV Honours.

Description: Insurance markets and products; underwriting and risk assessment; policy design; actuarial modelling; actuarial assumptions and feedback; reserving methods.

Actuarial Control Cycle 2 STAT4032
(6 units)

Second semester

Four hours per week of lectures and/or tutorials.

Professional actuarial course for the Honours year of Actuarial Studies Degree.

Prerequisites: STAT4031 Actuarial Control Cycle 1.

Description: Investments for different types of liabilities; assessment of solvency; analysis of experience; analysis of surplus; actuarial techniques in the wider fields, an introduction to professionalism.

Actuarial Techniques 1 STAT3033
(6 units)

First semester

Three lectures and one tutorial per week

Prerequisites: Completion of or concurrent enrolment in STAT3037 Life Contingencies.

Syllabus: This course develops the basic actuarial techniques that are used in later work. Topics covered include: joint life and last survivor functions; definition, estimation and use of selection functions; heterogeneity; population projections; description of the main variable benefit, disability, long-term care contract types and calculation of net premiums and reserves; calculation of gross premiums and reserves using the equation of value for fixed and variable benefit contracts; the influence of expenses, bonuses and inflation in setting prices and reserves; the use of discounted emerging costs in pricing, reserving and assessing profitability; asset shares and their relationship to retrospective reserves and bonus distribution; the cost of guarantees and options; early termination benefits and changes in contract terms; computations for, and valuation of, disability insurance contracts.

Actuarial Techniques 2 STAT3038
(6 units)

Second semester

Two lectures and one tutorial per week

Prerequisites: STAT3033 Actuarial Techniques 1

Syllabus: Development of cash-flow projection models using a spreadsheet. Applications will be drawn from profit testing, liability valuation for both life and non-life insurance contracts, contribution rate, transfer values and valuation in superannuation. The extension of these techniques to include stochastic methodology will be included. Asset liability models will also be covered.

Advanced Econometric Methods EMET3011
(6 units)

First semester

Two lectures and one tutorial per week.

Prerequisite: EMET2008 Econometric Modelling.

Syllabus: This course covers sufficient of the core tools of econometric theory that students can understand and implement more advanced methods of modelling. Principles of inference are drawn from the generalised method of moments and the method of maximum likelihood. The econometric models are both linear and nonlinear in form and arise as single equaltion and multiple equation relationships. Emphasis is given to unifying the inference ideas, so that students can see the connections between methods that are usually presented in elementary courses as isolated one-off solutions to particular problems. The basic material is reviewed from these broader perspectives and the principles are then extended to more complicated models. The insights gained will enable students to understand advanced modelling approaches and equip them to develop modelling techniques for other non-standard situations that do not have ready-made solutions.

Proposed assessment: End of semester examination plus assignments.

Advanced Marketing Research STAT3005
(6 units)

Not offered in 2002

Three contact hours per week

Prerequisites: STAT2003 Marketing Research Methods.

Syllabus: The aim of this course is to explore multivariate techniques used in modern marketing practice. Emphasis will be placed on case studies of marketing practice and on the practical application of the methods discussed. Topics to be drawn from: analysis of variance; regression analysis; discriminant analysis; canonical correlation analysis; factor analysis; cluster analysis; multi dimensional scaling: conjoint analysis.

Applied Econometric Models EMET3006
(6 units)

Second semester

Three contact hours per week.

Prerequisite: EMET2008 Econometric Modelling.

Syllabus: The aim of this course is to equip students with the skills required to undertake independent applied research using modern econometrics methods. Lectures cover the role of theory and data in model specification, types and sources of data, model evaluation, and applications of models for testing, policy analysis and forecasting. Students undertake regular practical assignments and a major applied project using an econometric software package. Topics covered include: modelling dynamics and expectations; simultaneity; discrete choice models; and time series techniques.

Applied Statistics STAT3008
(6 units)

Second semester

Three hours of lectures and tutorials per week

Prerequisite: 72 units including STAT1003 Statistical Techniques or STAT1008 Quantitative Research Methods or STAT2008 Regression Modelling.

Syllabus: This course is designed for senior undergraduate and research students who need to design experiments and carry out statistical analysis of their data. Emphasis will be placed on the development of statistical concepts and statistical computing skills, rather than mathematical details. The content will be motivated by problem-solving in many diverse areas of application. The topics covered will include summarising data by graphs and tables, the design and analysis of experiments, regression modeling with emphasis on model formulation, understanding the implications of model assumptions, diagnostic methods for model checking and interpretation, the analysis of binary and ordinal data and log-linear models for contingency tables.

Applied Tax Policy (P) ECON2040
(6 units)

Second semester

Two lectures and one tutorial per week.

Prerequisite: Completion of or concurrent enrolment in ECON2101/2111 Microeconomics 2 (P or H).

Syllabus: This course applies microeconomic analysis to the examination of the effects of recent tax changes around the world, of the present Australian tax system and of possible reform options. The course examines the policy issues involved in comprehensive changes to the tax system. It reviews the impact of taxes on the distribution of wealth (tax incidence) and on economic efficiency and discusses the efficiency/equity trade off. The course will consider how relatively neutral taxes on income and expenditure might be designed and examine the effects of departures from neutrality, including the tax preferred status of superannuation and housing. Emphasis will be placed on major Australian tax changes since the mid 1980s, such as the capital gains tax and full imputation reforms, effects of taxation on the pattern of savings and investment, and on tax reform options such as a GST. Other topics include tax shelters and international tax issues.

Proposed assessment: Assessment will be by means of a mid-semester examination and an end-of-semester examination.

Applied Tax Policy (H) ECON2090
(6 units)

Second semester

Lectures and tutorials as for the pass course plus there may be an additional lecture each week.

Prerequisite: As for ECON2040 Applied Tax Policy (P).

Syllabus: The honours course covers the same topics as the pass course but in greater depth.

Asian Giants: China, India and Japan: alternative paths to prosperity (P) ECHI2109
(6 units)

Second semester

Two lectures and one tutorial per week.

Prerequisite: ECON1101 Microeconomics 1, and ECON1102 Macroeconomics 1 or ECON1100 Economics 1 (H), or ECON1001/1011 Economics I [(P)/(H)], or ECHI1105 or Understanding Economic Behaviour: Microeconomics for Social Scientists and ECHI1106 Understanding Economic Policy: Macroeconomics for Social Scientists.

Syllabus: The purpose of this course is to provide a comparative analysis of the long-term growth of three of the largest economies in Asia: India, China and Japan. The course deals primarily with the economic determinants of each country's growth, but the role of cultural, political and religious factors, as well as the ethnic diversity within China and India, will be taken into account in explaining the relative economic success of each country. The main focus of study will be on identifying and comparing the relative importance of those factors that appear to have hindered, or have promoted economic development in each of the three economies. Among the main themes to be explored are the roles of rural development and technology, peasant society and other cultural influences affecting economic growth, manufacturing industry and industrialisation, population growth, urbanisation, foreign influences, and economic systems. Analytical emphasis will be on identifying and comparing long-run determinants of each country's success (or the lack of it) in achieving economic growth and development.

Proposed assessment: By examination, essay and tutorial participation.

Asian Giants: China, India and Japan: alternative paths to prosperity (H) ECHI2119
(6 units)

Second semester

Lectures and tutorials as for the pass course with additional honours classes.

Prerequisite: As for ECHI2109 Asian Giants: China, India and Japan: alternative paths to prosperity (P).

Syllabus: As for the pass course along with additional honours classes and more advanced topics and reading in the same field.

Proposed assessment: By examination, essay and tutorial participation.

Auditing BUSN3002
(6 units)

Second semester

At least three contact hours per week.

Prerequisites: BUSN2015/COMM2015 Company Accounting, and BUSN2101/COMM2101 Law of Business Entities.

Incompatible with COMM3002 Auditing.

Syllabus: Nature and objectives of independent financial audits; the auditing environment; legal and ethical responsibilities and auditing standards; risk analysis in auditing; sources and nature of evidence; audit planning and testing methods; sampling and data verification techniques; form and purpose of audit reports.

Business and Economic Forecasting EMET3007
(6 units)

First semester

Three contact hours per week.

Prerequisite: EMET2007 Econometric Methods or STAT2008 Regression Modelling.

Syllabus: Accurate forecasting of future events and their outcomes is a crucial input into a successful business or economic planning process. This course provides an introduction to the application of various forecasting techniques. The methods include trend curve extrapolation, smoothing, autoregressions, regression modelling, leading indicators. The course also looks at techniques for the evaluation of performance of forecasting methods and examines the role of forecasts in the decision making process. Students will learn how to use the various techniques in real world forecasting applications.

Business Ethics BUSN3016
(6 units)

Second semester

At least three contact hours per week.

Prerequisites: 60 units including at least 48 units from Schedule 1.

Incompatible with COMM3016 Business Ethics.

Syllabus: Philosophical inquiry into ethics and the psychological theories of moral development. A major purpose is to promote reflection on the ethical domain of economic decision making and to develop the student's capacity to analyse and argue the ethical dimension. Important themes will include the ethical content inherent in capitalistic economic behaviour; the compatibility of goals and organisational structures of business and professions with ethical outcomes; motivation and incentive for ethical behaviour. Applications will examine a range of ethical problems, for instance dilemmas concerning trust, loyalty, truthfulness and responsibility that present in workplace settings.

Company Accounting BUSN2015
(6 units)

First semester

At least three contact hours per week.

Prerequisite: BUSN1002 Accounting Processes and Systems or COMM1020 Accounting and Financial Management.

Incompatible with COMM2015 Company Accounting.

Syllabus: Characteristics and types of companies; accounting for company life-cycle events: formation, issues of shares and debt instruments, reserves, retained profits and distributions to owners, financial reporting requirements, reorganisations, expansion by asset acquisitions, external administration; consolidated accounts: the entity concept and control, substitution, inter-company transactions, outside equity interests; associates and the equity accounting method.

Competition Policy, Privatisation and Regulation (P) ECON2010
(6 units)

May not be offered in 2002

Two lectures per week and one tutorial per week.

Prerequisite: ECON2101 Microeconomics 2 (P or H).

Syllabus: This course will provide a broad understanding of the economic principles of government intervention in markets. The topics to be covered are competition policy, regulation, and privatisation. Beginning with a brief overview of the theory of market structure, the study of competition policy will focus on mergers, collusion and access pricing. The standard issues of regulatory price setting will be covered, including modern theories relating to imperfect information. Finally the costs and benefits of privatisation and contracting out will be explored. The aim of the course is to introduce new microeconomic theory and techniques relating to competition policy and to demonstrate how that theory can be used in practical, policy relevant analysis. Current issues in Australian microeconomic reform will be analysed using the acquired skills.

Competition Policy, Privatisation and Regulation (H) ECON2012
(6 units)

May not be offered in 2002

Lectures and tutorials as for the pass course together with one honours class per week throughout the semester.

Prerequisite: As for ECON2010 Competition Policy, Privatisation and Regulation (P).

Syllabus: Introduction to advanced topics in competition policy. Additional emphasis will be placed on recent theoretical developments with applications to current policy initiatives.

Consumers and Consumption in the Modern Economy (P) BUSN2021
(6 units)

Not offered 2002

At least three contact hours per week.

Prerequisites: ECON1101 Microeconomics 1 and ECON1102 Macroeconomics 1, or ECON1100 Economics 1 (H), or ECON1001/1011 Economics I (P or H).

Incompatible with ECHI2021/2022 Consumers and Consumption in the Modern Economy (P/H).

Syllabus: This course analyses changes in consumer demand during economic development, particularly during the 20th century. The course is thematic and assesses these changes at both the macro and micro level. It uses the historical experience of economies and businesses in Australia, the UK and USA to outline the complex processes by which the modern consumer society has evolved. It then uses this outline to analyse recent changes in consumption patterns in Asian economies. The course presents students with an interdisciplinary understanding of the fundamental factors that motivate broad changes in consumer choice and spending. Topics discussed include: economic growth and consumption patterns; consumption of food, durables and leisure; changes in retailing, marketing, consumer credit and consumer protection; consumerism.

Consumers and Consumption in the Modern Economy (H) BUSN2022
(6 units)

Not offered 2002

Lectures and tutorials as for the pass course with more advanced topics and reading in the same field.

Prerequisite: As for BUSN2021 Consumers and Consumption in the Modern Economy (P).

Incompatible with ECHI2021/2022 .Consumers and Consumption in the Modern Economy (P/H)

Syllabus: As for the pass course with more advanced topics.

Continuous Time Finance FINM3003
(6 units)

First semester

At least three contact hours per week.

Prerequisite: STAT2032 Financial Mathematics or FINM2002/COMM2006 Financial Instruments and Risk Management.

Syllabus: This course is directed at students pursuing advanced studies in finance wishing to gain an understanding of stochastic processes and their application in finance. Topics include: introduction to stochastic calculus; continuous time concepts; applications to asset pricing and derivatives; hedging principles.

Corporate Finance FINM2001
(6 units)

First or second semester

At least three contact hours per week

Prerequisite: ECON1101 Microeconomics 1, or ECON1001/1011 Economics I (P or H).

Incompatible with COMM2005 Corporate Finance.

Syllabus: This is a course in the finance discipline with a specific focus on corporate issues. Covers a range of topics designed to provide a general understanding of modern finance theory and practice. Topics include: capital markets; financial decision-making under uncertainty; assessment of risk; portfolio theory; valuation of equity and debt instruments; pricing of risky assets; efficient markets; corporate financing decisions; corporate dividend decisions; capital budgeting concepts and applications and international finance.

Corporate Strategy BUSN3015
(6 units)

First semester

At least three contact hours per week.

Prerequisites: 72 units including at least 48 units from Schedule 1.

Incompatible with COMM3015 Corporate Strategy.

Syllabus: This course covers corporate strategy, strategic options, decision-making and implementation, corporate governance and corporate failure. The forces and factors that influence the strategies pursued by corporations and the construction of governance structures are examined. Topics include the external environment, strategic analysis and techniques, firm competencies and capabilities, strategic options and choice, strategic implementation and feedback, alternate corporate governance structures, and organisational change. The course draws upon case studies to highlight key concepts in strategic decision-making.

Credibility Theory STAT3036
(6 units)

Second semester

Three contact hours per week.

Prerequisites: STAT2001 Introductory Mathematical Statistics.

Incompatible with STAT3031 Risk Theory.

Syllabus: This course involves the study of the concepts of decision theory; the fundamental concepts of Bayesian statistics and the calculation of Bayesian estimators; the fundamental concept of credibility theory; the fundamental concepts of simple experience rating systems; and the application of several techniques for analysing a delay triangle and estimating outstanding claim amounts.

Design of Experiments and Surveys STAT3012
(6 units)

First semester

Three contact hours per week

Prerequisites: EMET2007 Econometric Methods, or STAT2008 Regression Modelling, or STAT2001 Introductory Mathematical Statistics.

Objective: This course introduces the principles of data collection, with particular emphasis on the design of experiments and surveys, and methods for analysing such data.

Syllabus: Topics chosen from: Principles of experimental design; Comparison of two treatments; Analysis of variance; Maximum likelihood and REML; Factorial experiments; Blocking and split-plot designs; Finite-population sampling, including censuses and sample surveys; Sampling methods, including stratification, clustering and complex surveys; Design-based analysis; Observational studies.

Development of Capital Markets (P) ECHI3005
(6 units)

Second semester

Two lectures and one tutorial per week.

Prerequisite: ECON1101 Microeconomics 1 and ECON1102 Macroeconomics 1 or ECON1100 Economics 1 (H), or ECON1001/1011 Economics I (P or H).

Syllabus: This course draws upon recent research from business and financial history to provide an understanding of the development and organisation of international and domestic capital markets within their broader institutional and historical context. Topics to be addressed include the development of the legal and economic framework for share trading, the foundation of Australian colonial stock markets, trends in regulation, speculative booms, and corporate collapse during the nineteenth and twentieth centuries. Specific issues relating to the development of international capital markets include international finance networks, speculative activity and the propagation of financial crises, and finance and industrial concentration.

Development of Capital Markets (H) ECHI3015
(6 units)

Second semester

Lectures and tutorials as for the pass course with more advanced topics in the same field.

Prerequisite: As for ECHI3005 Development of Capital Markets (P).

Syllabus: As for the pass course together with wider reading in the same field.

Proposed assessment: By examination, extended essay and tutorial presentation.

Development of Modern Business (P) ECHI2010
(6 units)

Not offered in 2002

Two lectures and one tutorial per week.

Prerequisites: ECON1101 Microeconomics 1 and ECON1102 Macroeconomics 1 or ECON1100 Economics 1 (H), or ECON1001/1011 Economics I [(P)/(H)], or ECHI1105 Understanding Economic Behaviour: Microeconomics for Social Scientists and ECHI1106 Understanding Economic Policy: Macroeconomics for Social Scientists

Syllabus: The aim of this course is to examine long run changes in the nature of business enterprises. The major themes to be covered include entrepreneurship, human resources, marketing, production, finance and organisational design. While there is no precise chronological period, the main concentration will be on the growth of large-scale corporations since about the middle of the last century to the present day. One of the ideas behind the course is to examine current issues in business using the benefit of historical evidence. The emphasis will be on a comparative approach by looking at the experience of individual firms in different industries and the pattern of corporate growth between countries. The major examples will be taken from Britain, USA, Japan and Australia.

Development of Modern Business (H) ECHI2020
(6 units)

Not offered in 2002

Lectures and tutorials as for the pass course, together with additional class work throughout the semester.

Prerequisite: As for ECHI2010 Development of Modern Business (P).

Syllabus: As for the pass course, together with more advanced topics in the same field.

Proposed assessment: By examination, essay and tutorial participation.

Development, Poverty and Famine (P) ECHI2003
(6 units)

First semester

Two lectures per week with tutorials throughout the semester.

Prerequisite: ECON1101 Microeconomics 1 and ECON1102 Macroeconomics 1 or ECON1100 Economics 1 (H), or ECON1001/1011 Economics I (P or H).

Syllabus: The objective of this course is to use historical material from about 1940 to examine the issues of development, poverty and famine. The approach is interdisciplinary and historical, and draws on concepts, mostly at an elementary level, from all relevant areas including economics, philosophy and nutritional science. Since this course is based on a rapidly changing and growing literature, its content varies over time. Topics that have been discussed in the past include: the analysis of disaster mitigation policies; factors influencing the rate of growth of population in developing countries; the measurement of poverty and social wellbeing; the basic causes of famines; the analysis of various famines in the period after 1940. This course may be included in the Development Studies major.

Development, Poverty and Famine (H) ECHI2013
(6 units)

First semester

Lectures and tutorials as for the pass course, together with additional tutorials throughout the semester or a longer honours essay.

Prerequisite: As for ECHI2003 Development, Poverty and Famine (P).

Syllabus: As for the pass course, together with a longer essay.

Proposed assessment: By examination, essay and tutorial participation.

Dynamic Econometrics EMET3008
(6 units)

Second semester

Three contact hours per week.

Prerequisite: EMET2008 Econometric Modelling.

Syllabus: This course focuses on the development and application of multivariate time series methods suitable for analysing empirical problems that arise in macroeconomics and financial economics. The topics covered include full information analysis of systems of simultaneously determined variables, time series decompositions and multivariate time series models, and macro-econometric models. A typical offering would cover applications of consumption and business cycle theory, asset price determination, and stochastic policy and control analysis.

Dynamics of Asian Business (P) BUSN2023
(6 units)

First semester

At least three contact hours per week.

Prerequisite: ECON1101 Microeconomics 1 and ECON1102 Macroeconomics 1 or ECON1100 Economics 1 (H), or ECON1001/1011 Economics I [(P)/(H)], or ECHI1105 Understanding Economic Behaviour: Microeconomics for Social Scientists and ECHI1106 Understanding Economic Policy: Macroeconomics for Social Scientists.

Incompatible with ECHI2023/2024 Dynamics of Asian Business (P/H).

Syllabus: Rapid economic growth in most of Asia during recent decades has seen the emergence of large corporate enterprises, which were organised in ways different from companies based in Western countries. This course discusses the evolution of Japanese, Korean and ethnic Chinese conglomerate enterprises and business networks. It introduces students to the particulars of corporate organisation and management of these enterprises, and elaborates the degree to which these help explain the success of Asian companies. Evolution and particulars of Asian business enterprise will be placed in the economic and social context of the countries where these companies originated.

Dynamics of Asian Business (H) BUSN2024
(6 units)

First semester

Lectures and tutorials as for the pass course with more advanced topics and reading in the same field.

Prerequisite: As for BUSN2023/ECHI2023 Dynamics of Asian Business (P).

Incompatible with ECHI2023/2024 Dynamics of Asian Business (P/H).

Syllabus: As for the pass course with more advanced topics.

Econometric Methods EMET2007
(6 units)

First semester

Three contact hours per week.

Prerequisite: Completion of or concurrent enrolment in ECON1101 Microeconomics 1 or ECON1001/1011 Economics I [(P)/(H)], and completion of EMET1001 Foundations of Economic and Financial Models and STAT1008 Quantitative Research Methods, or STAT1006 Quantitative Methods for Business and Economics 1 and STAT1007 Quantitative Methods for Business and Economics 2, or STAT2001 Introductory Mathematical Statistics

Incompatible with STAT2008 Regression Modelling.

Syllabus: This course is an introduction to econometric methods and applications. Practical aspects such as formulation of models and interpretation of results are emphasised more than abstract statistical theory. The basic framework is the linear regression model and its adaptations to econometric problems. Topics include: specification and functional form; estimation by least squares; interpretation of coefficients, measures of precision; checks of model assumptions; prediction; and model selection. Computer software is used to give students experience with realistic economic and business examples.

Econometric Modelling EMET2008
(6 units)

Second semester

Three contact hours per week.

Prerequisite: EMET2007 Econometric Methods or STAT2008 Regression Modelling, and ECON1101 Microeconomics 1 or ECON1001/1011 Economics I (P or H).

Syllabus: This course develops techniques necessary for the quantitative analysis of economic and business problems that are beyond the scope of the linear regression model. The main topics studied are non-linear regression models, limited information analysis of systems of simultaneous equations, and single equation dynamic models. Specific applications may include models of discrete choice, supply and demand, expectations formation, and dynamic adjustment. Use of computer software provides the opportunity to employ the methods in applications from actual economic and business case studies.

Economics 3 (H) ECON3100
(3 units per semester)

First plus second semester

Students enrol in ECON3100 for both first and second semester for a total of 6 units.

One 1-hour lecture and one 1-hour tutorial per week throughout the year.

Prerequisite: ECON2101/2111 Microeconomics 2 (P or H) and ECON2102/2112 Macroeconomics 2 (P or H).

Incompatible with ECON3111 Economics III (H).

Economics 3 (H) is a prerequisite for entry into Economics IV (H). Students will normally take this course concurrently with third year economics courses that are compulsory in the BEc degree. In particular, students should note that the material covered in the first semester of the course has a close relationship to the first half of the syllabus of International Economics and that it is advisable for Economics 3 (H) to be taken concurrently with, or after completion of, International Economics.

Syllabus: The first half of the course introduces students to general equilibrium theory and models in the context of an examination of the principal results and theorems of the pure theory of international trade. The second semester is concerned with elaborating aspects of decision theory and the economics of individual and social choice, for example in the context of considering the economics of elections.

Proposed assessment: End-of-semester examinations together with a small number of assignments in each semester.

Electronic Business INFS2004
(6 units)

Second semester

At least three contact hours per week.

Prerequisite: INFS1001 Foundations of Electronic Commerce and Information Systems or COMP1100 Introduction to Programming and Algorithms, or INFS2012 Business Information Systems.

Incompatible with INFS3060 Electronic Commerce.

Syllabus: This course gives a complete introduction to the world of electronic commerce, with a balanced coverage of business and technical topics. Students are introduced to both the theory and practice of doing business over the Internet and the World Wide Web. Topics covered include: infrastructure, tools, software, security, online payment methods, an introduction to business models and planning for e-commerce.

Electronic Commerce Strategic Issues INFS3002
(6 units)

Second semester

At least three contact hours per week.

Prerequisite: INFS2004 Electronic Business.

Syllabus: This course builds on the material introduced in the course Electronic Business by covering the strategic use of e-commerce in organisations in greater depth. Business models examined include those for electronic marketing, service industries, business-to-business, and business-to-government. Topical issues such as trust in an online environment, valuation, and knowledge management systems are also covered. Project work involves the strategic analysis and design of an e-commerce solution for an organisation in a real-world setting.

Environmental Accountability and Reporting BUSN3017
(6 units)

Second semester

At least three contact hours per week.

Prerequisites: 72 units.

Incompatible with COMM3017 Environmental Accountability and Reporting.

Syllabus: Provides an introduction to contemporary environmental accounting and reporting issues. The main focus is on the need for improved transparency, accountability and decision-making. Topics are selected from: emergence of environmental information management; stakeholder perspective; framework of environmental accounting; environmental issues in conventional accounting, including environmental shareholder value; ecological accounting -- internal and external; eco-efficiency; integration with environmental management systems.

Financial Economics (P) ECON3006
(6 units)

Second semester

Two lectures per week with tutorials

Prerequisite: ECON2101/2111 Microeconomics 2 (P or H).

Syllabus: This course examines the economic principles that determine the allocation of resources through time in market economies. It uses supply and demand relationships to value capital assets (or projects more generally). There is a detailed treatment of the effects of risk and taxes on capital asset prices, and the Modigliani-Miller financial policy irrelevance theorems are derived and examined in detail.

Reading: A combination of material is drawn from books, journals and lecture handouts.

Financial Economics (H) ECON3016
(6 units)

Second semester

Lectures and tutorials as for the pass course plus one additional honours lecture per week.

Prerequisite: As for ECON3006 Financial Economics (P).

Syllabus: The material in the pass course is extended in the honours lectures to a general equilibrium setting using the state-preference model of Arrow and Debreu. Also, the course examines the economics of insurance in the presence of asymmetric information where moral hazard and adverse selection problems arise.

Reading: As for the pass course plus additional lecture handouts.

Preliminary Reading:

• Elton, E.J. and Gruber, M.J., Modern Portfolio Theory and Investment Analysis (5th edition), John Wiley and Sons, 1995
• Hirschliefer, J., Investment, Interest, and Capital, Prentice Hall, 1970.

Financial Instruments and Risk Management FINM2002
(6 units)

Second semester

At least three contact hours per week

Prerequisite: FINM1001 Money, Markets and Finance, or BUSN2005/COMM2005 Corporate Finance.

Incompatible with COMM2006 Financial Institutions and Risk Management.

Syllabus: The course is directed at students interested in gaining a deeper understanding of financial instruments and financial risk management. The first half of the course covers topics on interest rates, bond pricing, credit structure and volatility while the second half covers topics on derivative financial contracts such as forwards, futures, options and swaps and culminates with two weeks covering financial risk management.

Financial Mathematics STAT2032
(6 units)

First semester (First and second semesters commencing 2003)

Three contact hours per week.

Prerequisites: STAT2001 Introductory Mathematical Statistics, or EMET1001 Foundations of Economic and Financial Models.

Description: Compound interest functions; valuation of annuities certain; loans repayable by instalments; comparison of value and yield of cash flow transactions; valuation of fixed interest securities, with and without tax on interest and capital gains; duration and volatility of securities; introduction to concept of immunisation and matching; consumer credit contracts; introduction to stochastic interest rate models.

Financial Reporting by Corporations BUSN3008
(6 units)

First semester

At least three contact hours per week.

Prerequisite: BUSN2015/COMM2015 Company Accounting.

Incompatible with COMM3008 Financial Reporting by Corporations.

Syllabus: The course examines a selection of financial reporting issues that are included, or under consideration for inclusion in, accounting standards applicable in Australia. Technical and theoretical aspects are considered. The conceptual framework, normative theories of accounting measurement and political and international pressures on the local standard setting processes are all presented as factors shaping the current and developing body of accounting standards.

Generalised Linear Modelling STAT2009
(6 units)

Second semester

Three contact hours per week.

Prerequisites: EMET2007 Econometric Methods or STAT2008 Regression Modelling.

Objectives: This course is intended to introduce students to generalised linear modelling methods for both discrete and continuous response data.

Syllabus: Review of multiple linear regression and the analysis of variance; use of transformations and weighting in linear models. Logistic regression for binary response data. Generalised linear models; estimation and inference using iteratively re-weighted least squares (IRLS). Poisson regression; loglinear models for contingency tables.

Globalisation and Regionalisation in the World Economy (P) ECHI2006
(6 units)

First semester

Two lectures per week with tutorials throughout the semester.

Prerequisites: ECON1101 Microeconomics 1 and ECON1102 Macroeconomics 1, or ECON1001/1011 Economics I (P or H).

Syllabus: An introductory section surveys the form and nature of contemporary relationships in the world economy and identifies significant issues in those relationships within various conceptual and analytical frameworks. The general trends of internationalisation and globalisation evident in the world economy over the recent past are then described and analysed, with particular emphasis placed upon the policy developments that have given shape to the institutional elements of those trends. The associated trend of regionalisation in the world economy is covered in the third section of the course, which describes and analyses the various forms of regional economic integration that have emerged in the recent past. The final section deals with selected topics of importance in recent world economic experience and includes: the planning and operation of the world economic order; the international monetary system and its institutions like the International Monetary Fund and the World Bank; the development of private capital markets of a global dimension; international trade, especially the associated institutional forms of the General Agreement on Tariffs and Trade and the World Trade Organisation; transnational corporations; issues of economic development in their global and regional contexts and problems of systemic transition in the economies of centrally planned societies.

Globalisation and Regionalisation in the World Economy (H) ECHI2016
(6 units)

First semester

Lectures and tutorials as for the pass course together with an additional course of lectures.

Prerequisites: As for ECHI2006 Globalisation and Regionalisation in the World Economy (P).

Syllabus: Aspects of regional economic integration in the world economy, with special reference to institutional and policy developments.

Proposed assessment: Examination, essay, tutorial participation and an honours-length essay on a regional grouping in the world economy.

Graphical Data Analysis STAT3011
(6 units)

Second Semester

Three contact hours per week

Prerequisites: 72 units including STAT1008 Quantitative Research Methods, or STAT1007 Quantitative Methods for Business and Economics 2, or STAT1003 Statistical Techniques, or STAT2008 Regression Modelling.

Syllabus: This course introduces the principles of data representation, summarisation and presentation with particular emphasis on the use of graphics. The course will use the S-Plus Language in a modern computing environment. Topics to be discussed include: Data representation; examples of good and bad graphics; principles of graphic construction; some pitfalls to be avoided; presentation graphics. Graphics environments; interactive graphics; windows; linked windows; graphics objects. Statistical graphics; stem and leaf plots, box plots, histograms; smoothing histograms; quantile-quantile plots; representing multivariate data; scatterplots; clustering; stars and faces; dynamic graphics including data rotation and brushing. Relationships between variables; smoothing scatterplots; simple regression; modelling and diagnostic plots; exploring surfaces; contour plots and perspective plots; multiple regression; relationships in time and space; time series modelling and diagnostic plots.

Health Economics ECON3004
(6 units)

First semester

Two lectures per week with tutorials throughout the semester.

Prerequisite: Completion of or concurrent enrolment in ECON2101/2111 Microeconomics 2 (P or H).

Syllabus: Demand for health and health care, theory of consumer behaviour and demand for health insurance, moral hazard and adverse selection, production of health and health care, including economic models of hospitals and hospital cost analysis, public choice approaches to issues in the health sector, output budgeting and economic evaluation of health care programs. Throughout the course the emphasis will be on the application of microeconomic analysis to health issues.

Proposed assessment: Students will be required to sit a three-hour examination at the end of the semester and to complete written work during the course. Details to be determined at commencement of the course.

History of Economic Thought (P) ECHI2005
(6 units)

First semester

Two lectures per week with tutorials throughout the semester.

Prerequisite: ECON1101 Microeconomics 1 and ECON1102 Macroeconomics 1 or ECON1001/1011 Economics I (P or H).

Syllabus: This course is an introduction to the history of economic theory. While the major phases in the development of economics (in the technical sense) will be studied, the aim will be to treat them against the background of their historical environment, including political and social thought and current economic problems. The course will include, but not be confined to, the work of Smith, Ricardo, Marx, Marshall and Keynes.

History of Economic Thought (H) ECHI2015
(6 units)

First semester

Lectures and tutorials as for the pass course, together with additional tutorials throughout the semester or a longer honours essay.

Prerequisite: As for ECHI2005 History of Economic Thought (P).

Syllabus: As for the pass course together with wider reading in the same field.

Proposed assessment: By examination, essay and tutorial participation.

Industrial Organisation (P) ECON2107
(6 units)

Second semester

Two lectures and one tutorial per week.

Prerequisite: Completion of or concurrent enrolment in ECON2101/2111 Microeconomics 2 (P or H).

Syllabus: This course looks at various theories about the organisation of firms and industries. Attention is focused on the determinants of the various organisational forms and the strategic behaviour encountered within them. Topics include price discrimination, product differentiation, adverse selection, moral hazard, market structure determinants, and research and development.

Proposed assessment: A final examination. Details to be determined.

Industrial Organisation (H) ECON2057
(6 units)

Second semester

Lectures and tutorials as for the pass course together with additional work.

Prerequisite: As for ECON2107 Industrial Organisation (P).

Syllabus: As for the pass course together with more advanced work.

Information Systems Analysis INFS2024
(6 units)

First semester

At least three contact hours per week.

Prerequisites: INFS1001 Foundations of Electronic Commerce and Information Systems, or INFS2012 Business Information Systems, or COMP1100 Introduction to Programming and Algorithms (COMP1100).

Syllabus: Information systems theory, decision concepts and techniques; fundamentals of individual and organisational behaviour; information systems analysis; user requirements determination, procedure representations and process specification; systems implementation; project management; user participation in systems analysis and implementation; systems operation.

Information Systems Management INFS3024
(6 units)

First semester

At least three contact hours per week.

Prerequisites: INFS2024 Information Systems Analysis or COMP2400 Relational Databases.

Syllabus: Alternative vehicles and product architectures for application software development and exploitation; quality assurance; acquisition methods; issues in project management; group decision support systems; inter, multi and extra-organisational applications, with particular reference to EFTS, EDI and electronic trading; competitive and strategic applications of information technology; information privacy law; legal liability, crime and professional ethics.

Information Technology
in Electronic Commerce COMP3410
(6 units)

Second Semester

Prerequisites: COMP1100 Introduction to Programming and Algorithms and 12 units of 2000-series COMP or INFS courses.

See entry in the Faculty of Engineering and Information Technology section of this Handbook.

International Business (P) BUSN3018
(6 units)

Second semester

At least three contact hours per week.

Prerequisite: ECON1101 Microeconomics 1 and ECON1102 Macroeconomics 1 , or ECON1001/1011 Economics I (P or H), or ECHI2010/2020 Development of Modern Business (P or H), or ECHI2023/2024 or BUSN2023/2024 Dynamics of Asian Business (P or H).

Incompatible with ECHI3006/3007 International Business (P/H).

Syllabus: This course is a broad survey of the field of international business, covering both business environment and business management. The first part of the course examines the environment for international firms particularly the evolution of international markets in goods and services, supernational mechanisms and infrastructures for trade and investment, and the role of national cultures and politics. The second part investigates more closely at the firms themselves including their entry mode into international enterprise, their organisational design, and their behavioural and control systems. The last part focuses on issues of international management including marketing, finance, accounting, and human resource management.

International Business (H) BUSN3019
(6 units)

Second semester

Lectures and tutorials as for the pass course with more advanced topics and reading in the same field.

Prerequisite: As for BUSN3018 International Business (P).

Incompatible with ECHI3006/3007 International Business (P/H).

Syllabus: As for the pass course with more advanced topics.

International Economics ECON3103
(6 units)

First semester

Two/Three lectures and one tutorial per week.

Prerequisite: ECON2101/2111 Microeconomics 2 (P or H) and ECON2102/2112 Macroeconomics 2 (P or H).

Syllabus: The course aims to provide students with an understanding of, and the competence to apply economic analysis to, the main issues confronting business and the economy in the modern international trading and financial environment. Issues of contemporary international debate and policy relevance are investigated in the context of the development of the core body of the theory of international trade, commercial policy and international monetary economics.

The course commences with a discussion of the nature of the gains from trade specialisation, the determinants of the pattern of world trade, and the factors that influence the benefits to an economy (and its component sectors and groups) from participation in the international trading system. A significant proportion of the course will focus on commercial policy issues, commencing with an analysis of unilateral trade policy changes and then examining the economics of trade policy coordination through multilateral and regional arrangements. The debate on the role of industrial policy in the process of economic development will also receive attention. The latter part of the course will develop the understanding of macroeconomic issues and policy in the open economy setting, with particular attention being paid to the internationalisation of financial markets and its implications for the interdependence of macroeconomic outcomes, the analysis of international macroeconomic policy coordination and monetary union, and the role of expectations and risk in determining spot and forward currency exchange rates.

Proposed assessment: In-class tests plus a 3-hour end-of-semester examination.

International Financial Management FINM3002
(6 units)

Second semester

Two Lectures and one tutorial per week.

Prerequisites: FINM2001/COMM2005 Corporate Finance or ECON3006/3016 Financial Economics (P or H).

Incompatible with COMM3005 International Financial Management.

Syllabus: This course is directed at students interested in international markets and operations, foreign exchange, multinational corporations and their activities, and concepts of international business. The course provides an analysis of modern theory and practice in international financial management. Topics include: decision-making in multinational corporations; concepts and operations of foreign exchange markets; international financial markets; Euromarkets; parity concepts and applications; management of political risk; funding mechanisms; capital budgeting tools and techniques; risk management strategies in an international environment.

Internet, Intranet and Document Systems COMP3400
(6 units)

Second Semester

Prerequisites: COMP1100 Introduction to Programming and Algorithms, and 12 units of 2000-level IT courses, and 12 units of 1000-level EMET or STAT or MATH courses.

See entry in the Faculty of Engineering and Information Technology section of this Handbook.

Introductory Mathematical Statistics STAT2001
(6 units)

First semester

Three contact hours per week.

Prerequisites: 12 units of 1000-level MATH courses including either MATH1003 or MATH1013, or current enrolment in the Bachelor of Actuarial Studies.

Syllabus: A first course in mathematical statistics with emphasis on applications; probability, random variables, moment generating functions and correlation, sampling distributions, estimation of parameters by the methods of moments and maximum likelihood, interval estimation, hypothesis testing, use of t, chi-square and F statistics, application of the central limit theorem to large sample inference, simple linear regression.

Investments FINM3001
(6 units)

First semester

At least three contact hours per week

Prerequisite: COMM2005 Corporate Finance, or FINM2001 Corporate Finance and COMM2006 Financial Instruments and Risk Management.

Incompatible with COMM3011 Investments.

Syllabus: This course is directed at students interested in the study of investments, asset pricing and valuation, stock selection and market efficiency as well as topics on bond portfolio management, international diversification, funds management and portfolio performance. The course provides a practical analysis of modern financial markets, traders and trading strategies while also covering the theoretical underpinnings.

Japanese Economy and Economic Policy ECON2008
(6 units)

Second semester

Three contact hours per week throughout the semester.

Prerequisite: Completion of or concurrent enrolment in ECON2101/2111 Microeconomics 2 (P or H).

Syllabus: This course is designed to introduce students to the operation and management of the Japanese economy and its impact on Australia and the Asia-Pacific region. Stress will be given to the analytic and policy interest in the operation and management of an economic system built on different social and institutional foundations from that of our own and the interaction between the Japanese economy and other economies, particularly the Australian economy.

Labour Economics and Industrial Relations (P) ECON2009
(6 units)

Second semester

Two 1-hour lectures and one tutorial per week.

Prerequisite: Completion of or concurrent enrolment in ECON2101/2111 Microeconomics 2 (P or H).

Syllabus: This course provides a theoretical and empirical discussion of labour markets. Topics considered will include: labour supply and the determinants of hours of work, migration, investments in human capital, labour demand, wage determination, discrimination, internal labour markets, trade unions, and macroeconomic issues related to wages and employment.

Proposed assessment: A 1-hour mid-semester examination and a 2-hour final examination. An essay assignment can be arranged for interested students.

Labour Economics and Industrial Relations (H) ECON2059
(6 units)

Second semester

Lectures and tutorials as for the pass course along with one honours class a week throughout the semester.

Prerequisite: As for ECON2009 Labour Economics and Industrial Relations (P).

Syllabus: The honours section provides a more detailed theoretical and empirical treatment of most topics covered concurrently in the pass course.

Proposed assessment: Assessment will be based on the same arrangements as for the pass course although examinations and essays for the honours students will be marked at a higher standard. Some exam questions given to the honours section will differ from those given to the pass course.

Law and Economics (P) ECON2120
(6 units)

Second semester

Two lectures and one tutorial per week.

Prerequisite: Completion of or concurrent enrolment in ECON2101/2111 Microeconomics 2 (P or H).

Syllabus: This course provides an introduction to a growing body of literature that applies economic analysis to the law. Prior legal knowledge is not required. Topics to be discussed will include the economic approach to the analysis of law, the welfare implications of such analysis, and selected topics in property, contract, tort and family law.

Law and Economics (H) ECON2139
(6 units)

Second semester

Lectures and tutorials as for the pass course, together with additional classes as may be required throughout the semester.

Prerequisite: As for ECON2120 Law and Economics (P)

Syllabus: As for the pass course, together with more advanced topics in the same field.

Proposed assessment: To be determined.

Law of Business Entities BUSN2101
(6 units)

First semester

At least three contact hours per week.

Prerequisites: BUSN1101/COMM1101 Introduction to Commercial Law.

Incompatible with COMM2101 Law of Business Entities and LAWS2203 Corporations Law.

Syllabus: This course provides a precis of the law relevant to partnerships and corporations. Topics covered include: agency law, partnership law and corporate law. Corporate law is emphasised, comprising issues such as: corporate governance (the structure and role of the board of directors, directors' duties, members' rights and shareholder meetings); corporate liability (corporate contracting, negligence issues faced by corporations); corporate finance (debt and equity financing, profit distribution and protection of creditors); and external administration (corporate insolvency, receivership, voluntary administration and winding up). This course provides an understanding of the legal issues relevant to corporations and, in particular, to debt and equity financing.

Life Contingencies STAT3037
(6 units)

First semester

Three contact hours per week.

Prerequisite: Completion of or concurrent enrolment in STAT2032 Financial Mathematics

Syllabus: Topics covered will include: an introduction to the life table; estimation of age-specific transition intensities, both exact and using the census approximation; statistical tests for comparing standard life tables to crude estimates, and graduation of crude estimates; simple assurance and annuity contracts including means and variances of present values assuming constant deterministic interest; the use of life tables or table lookup for computation of moments of the present value of simple benefits; description and calculation of net premiums and net policy values of simple assurance and annuity contracts.

Macroeconomics 2(P) ECON2102
(6 units)

Second semester

Two/Three hours of lectures and a one-hour tutorial each week throughout the semester.

Prerequisite: ECON1101 Microeconomics 1 and ECON1102 Macroeconomics 1 or ECON1100 Economics 1 (H), or ECON1001/1011 Economics I (P or H).

Syllabus: This course builds on the analysis developed in Macroeconomics 1. New elements are models of long run growth, and a more extensive treatment of the open economy and exchange rates. Other topics may include the role of expectations in capital markets and imperfect competition in labour markets. The course emphasises the analysis of recent changes in the global economy, such as the opening of global capital markets, the surge in Asian growth into the 1990s, the subsequent Asian financial crisis and the US technology boom. The aim is to build the skills to analyse their effects on small open economies like Australia and assess any implications for macroeconomic policy. Lectures and tutorial work progress through the construction of an elemental model of the open economy, its use to analyse the effects of domestic macroeconomic policy and to assess external shocks.

Proposed assessment: A combination of tutorial problem sets, short essays and a final examination.

Macroeconomics 2(H) ECON2112
(6 units)

Second semester

Lectures and tutorials as for the pass course together with additional honours classes throughout the semester.

Prerequisite: As for ECON2101 Macroeconomics 2(P).

Syllabus: The course covers the same syllabus as Macroeconomics 2(P) with topics from the pass course being discussed in greater depth and with the addition of more advanced topics based on recent developments in macroeconomics.

Proposed assessment: As for the pass course plus additional assessment on the honours material.

Macroeconomics 3 ECON3102
(6 units)

Second semester

Two/Three lectures and one tutorial per week throughout the semester.

Prerequisite: ECON2101/2111 Macroeconomics 2 (P or H) and ECON2102/2112 Microeconomics 2 (P or H).

Syllabus: This course extends and reinforces the material developed in Macroeconomics 2 by analysing a number of policy issues in macroeconomics. Its objective is to show how practical problems can be structured and analysed using macroeconomic models and appropriate data. Most of the applications will be drawn from contemporary and historical Australian experience. Topics to be discussed include measurement and interpretation of macroeconomic aggregates; impact of the world economy on short-run fluctuations in Australia; determinants of economic growth and foreign debt; assessment of the impact of fiscal policy; inflation targets and monetary policy; and the persistence of unemployment.

Proposed assessment: An essay and an end of semester examination.

Management Accounting BUSN2011
(6 units)

Second semester

At least three contact hours per week.

Prerequisites: BUSN1002 Accounting Processes and Systems, or COMM1020 Accounting and Financial Management.

Incompatible with COMM2011 Management Accounting.

Syllabus: Traditional and modern management accounting systems, including standard costing and variance analysis, activity based costing and fixed and flexible budgeting; overhead allocation; product pricing; cost estimation using simple and multiple regression; costing quality; inventory management; performance measurement, including balanced scorecard; capital budgeting and cost analysis.

Management Decision Making BUSN3003
(6 units)

First semester

At least three contact hours per week.

Prerequisite: BUSN2011/COMM2011 Management Accounting.

Incompatible with COMM3003 Management Decision Making.

Syllabus: This course focuses on managerial decision-making and associated organisational and behavioural issues. The subject aims to provide a practical analysis of the processes of identifying managerial decisions and solving problems. Topics cover a broad range of decision situations including uncertainty, inventory, strategy, profitability, quality, and project and investment appraisal.

Managerial Decision Analysis STAT3014
(6 units)

First semester

Three contact hours per week.

Prerequisite: 72 units including STAT1008 Quantitative Research Methods or STAT1003 Statistical Techniques or STAT1007 Quantitative Methods for Business and Economics 2.

Incompatible with STAT3003 Operations Research: Linear Programming.

Syllabus: Decision-making is a process of selecting a specific action from a set of possible actions to address a given problem. Because there is uncertainty about the future, we cannot be sure of the consequences of the decision. This course provides an introduction to the quantitative techniques and models used by managers to help solve decision-making problems in an uncertain environment. The main quantitative techniques studied will be those of statistical decision analysis, mathematical programming, and simulation. Specific applications of these techniques may include product-mix determination, transportation planning, risk analysis (of securities), inventory control, queuing problems, and quality control.

Marketing BUSN2010
(6 units)

First semester

At least three contact hours per week.

Prerequisites: ECON1101 Microeconomics 1, or ECON1001/1011 Economics I (P or H), or the completion of 48 units.

Incompatible with COMM2010 Marketing.

Syllabus: The course provides an introduction to the principles and practice of marketing. Topics include the role of marketing and its organisational context; the marketing environment; market segmentation and target markets; marketing information, research and analysis; industry analysis, marketing planning and competitive strategies; buyer behaviour in the consumer and business markets; pricing products and services; distribution channels; integrated marketing communications; marketing of services; e-marketing; managing and evaluating the marketing effort.

Marketing Models ECON3012
(6 units)

May not be offered in 2002

Two lectures per week and one tutorial per week.

Prerequisite: BUSN2010/COMM2010 Marketing.

Syllabus: This course brings together the economic study of consumer behaviour with the study of strategic firm behaviour. First, models of consumer behaviour are developed focusing on issues such as optimal product choice, response to advertising, repeat purchase incentives. Given the models of consumer behaviour, models of firm decisions about product price, product characteristics, and advertising are investigated. The goal is to provide students with an analytical approach to marketing tools and with an understanding of how marketers can make better marketing decisions.

Marketing Research Methods STAT2003
(6 units)

Second semester (May not be offered in 2002)

Three contact hours per week.

Prerequisites: STAT1008 Quantitative Research Methods, or STAT1003 Statistical Techniques, or STAT1007 Quantitative Methods for Business and Economics 2.

Syllabus: This course is directed at students interested in quantitative methods of marketing research. The subject provides an introduction to many of the techniques currently used in modern marketing practice. Topics may include: formulation of marketing research problems; data collection; and techniques of data analysis.

Mathematical Economics ECON3121
(6 units)

First semester

Two lectures per week with tutorials throughout the semester.

Prerequisite: ECON2125 Mathematics for Economists A and ECON2127 Mathematics for Economists B (or prior study of university mathematics to an appropriate level) and ECON2101/2111 Microeconomics 2 (P or H) and ECON2102/2112 Macroeconomics 2 (P or H).

Incompatible with ECON2121/2122 and ECON2023/2024 Mathematical Economics 1A and 1B (P/H).

Syllabus: Techniques of constrained optimisation including both equality and inequality constraints, maximum value functions and the envelope theorem; general equilibrium including fixed points, existence and uniqueness of competitive equilibria and the fundamental theorems of welfare economics; dynamic optimisation; the maximum principle; and dynamic programming and Bellman's Equation.

Mathematics for Economists A ECON2125
(6 units)

First semester

Two lectures and one tutorial per week.

Prerequisites: ECON1101 Microeconomics 1 and ECON1102 Macroeconomics 1 or ECON1100 Economics 1 (H), or ECON1001/1011 Economics I (P or H), and EMET1001 Foundations of Economic and Financial Models or STAT1007 Quantitative Methods for Business and Economics 1.

Syllabus: The course will start with a brief review of graphs and functions used in economic theory, calculus of a single variable, vectors, matrices and determinants. It will then examine partial derivatives and total derivatives; comparative statics; concavity and convexity; unconstrained maximisation/minimisation; maximisation/minimisation subject to constraints; the implicit function theorem and the envelope theorem; and integration and Liebniz's Rule. Throughout the course, the usefulness of these concepts and techniques will be illustrated by applications to theoretical economic analysis.

Mathematics for Economists B ECON2127
(6 units)

Second semester

Two lectures per week with tutorials throughout the semester.

Prerequisite: ECON2125 Mathematics for Economists A.

Syllabus: This course is the second of a two-semester sequence, which introduces students to a range of mathematical concepts and techniques that are useful in analysing economic issues. The main focus is on Dynamic Analysis and an introduction to Dynamic Optimisation. Throughout the course, the various concepts and techniques will be illustrated by applications to theoretical economic analysis. The topics to be covered will be drawn from: review of integral calculus; first order differential equations; higher order differential equations; first order difference equations; higher order difference equations; system of differential or difference equations; and introduction to dynamic optimisation.

Proposed assessment: Mid-semester and end-of-semester examinations.

Microeconomics 2 (P) ECON2101
(6 units)

First semester

Two/Three lectures and one tutorial per week.

Prerequisite: ECON1101 Microeconomics 1, or ECON1001/1011 Economics I (P or H).

Syllabus: Building upon material introduced in Microeconomics 1, this course aims to provide a solid understanding of basic microeconomic theory and the ability to apply those tools and ideas. Models describing the economic behaviour of individual decision-makers and the outcomes of markets are developed and applied with an interest in their impact on social welfare. Questions addressed include: What influences consumer demand decisions and how? How do firms decide on how much to produce and how much inputs to use? How do prices function to coordinate economic activity? What is meant by economic efficiency? When do markets fail to achieve efficient outcomes?

Training in economic analysis is achieved via weekly tutorials that go over problem sets linked to material presented in lecture. Overall, the course takes an analytical approach emphasising rigorous logical reasoning and economic problem solving.

Proposed assessment: In-class tests, tutorial assignments, group presentations, and final examination.

Microeconomics 2 (H) ECON2111
(6 units)

First semester

Lectures as for the pass course, together with an additional honours class per week.

Prerequisite: As for ECON2101 Microeconomics 2 (P).

Syllabus: The course will include the same syllabus as Microeconomics 2(P) with treatment in greater depth of some of the pass course material and the discussion of some more advanced topics based on recent developments in microeconomics, including game theory and the economics of uncertainty and asymmetric information.

Proposed assessment: Candidates are required to complete all assignments and examinations prescribed for the pass course and to take an end-of-semester examination based upon the subject matter of the honours classes.

Microeconomics 3 ECON3101
(6 units)

First semester

Two/Three lectures and one tutorial per week throughout the semester.

Prerequisite: ECON2101/2111 Microeconomics 2 (P or H).

Syllabus: The course focuses on the use of microeconomic analysis to address policy issues. The techniques for the analysis of microeconomic policies that are emphasised include the welfare basis of government intervention; positive theory of government; concepts and measurement of consumer and producer welfare change; partial-equilibrium efficiency analysis; Harberger's general-equilibrium efficiency analysis.

Applications will be drawn from topics relating to Australian primary, manufacturing and service industries.

Proposed assessment: A three-hour end-of-semester examination and in-class tests.

Money and Banking ECON2026
(6 units)

First semester

Two lectures and one tutorial per week.

Prerequisite: ECON1102 Macroeconomics 1, or ECON1100 Economics 1 (H), or ECON1001/1011 Economics I (P or H), and completion of or concurrent enrolment in ECON2101/2111 Microeconomics 2 (P or H).

Syllabus: This course has two main objectives. One is to study the role played by banks in modern monetary economies and financial markets, including issues arising from bank regulation, the role of banks in financial intermediation, and the significance of bank behaviour in monetary policy. The second objective is to study the operation of monetary policy generally in small open economies such as Australia.

Proposed assessment: to be determined.

Organisational Behaviour BUSN2007
(6 units)

Second semester

At least three contact hours per week.

Prerequisites: BUSN1001 Business Reporting and Analysis or COMM1010 Financial Accounting Fundamentals.

Incompatible with COMM2007/3007 Organisational Behaviour.

Syllabus: This course provides an introduction to the theories that attempt to explain behaviour within organisations at the individual, group and organisational levels. Theories explored include: the psychology of the individual, motivation, group dynamics, leadership, power and politics, work design, organisational design, and organisational change.

Organisational Performance Management BUSN3013
(6 units)

Second semester

At least three contact hours per week.

Prerequisite: BUSN2011/COMM2011 Management Accounting.

Incompatible with COMM3013 Organisational Performance Management.

Syllabus: The nature and reasons for organisational performance measurement; behavioural, structural and organisational aspects of performance measurement and control; theories of management relating to control; application of control systems and related theory to the design of management accounting systems; evaluation of appropriate control systems for the management of organisations; ways to avoid problems associated with management control systems; responsibility centres and their behavioural aspects; types of budgeting including fixed and flexible, incremental, rolling, zero based and activity based; going beyond budgeting; behavioural aspects of standard costing; transfer pricing principles and measures; management compensation.

Poverty, Public Policy and Development (P) ECHI3004
(6 units)

Second semester

Two lectures and one tutorial per week.

Prerequisite: ECON2101/2111 Microeconomics 2 (P or H).

It is recommended that students have completed ECHI2003/2013 Development, Poverty and Famine (P/H).

Syllabus: The central objective is to consider in some detail the theory of the design and implementation of policies, subject to various constraints, targeted at assisting the poor in developing countries. The starting point in the lectures will be the discussion of pertinent economic history for a number of developing countries which provide insights into how poverty and destitution may best be alleviated. To derive from these insights a deeper understanding of pertinent issues a range of disciplines are next brought to bear in the discussion. Besides economic history, the list of disciplines includes microeconomic theory (and within that discipline uncertainty theory, game theory, the general theory of market failure, taxation and expenditure), aspects of moral philosophy, political science, anthropology, ecology, demography, nutritional science and epidemiology. A concerted effort is made in the lectures to combine relevant ideas to be found in this literature into a coherent and reasonably rigorous framework of analysis.

Proposed assessment: By examination, essay and tutorial participation.

Poverty, Public Policy and Development (H) ECHI3014
(6 units)

Second semester

Two lectures and one tutorial per week.

Prerequisite: As for ECHI3004 Poverty, Public Policy and Development (P).

Syllabus: As for the pass course with more advanced topics.

Proposed assessment: As for the pass course with a longer essay.

Principles of Taxation Law BUSN3014
(6 units)

Second semester

At least three contact hours per week.

Prerequisite: BUSN1101/COMM1101 Introduction to Commercial Law.

Incompatible with COMM3014 Principles of Taxation Law and LAWS2221 Income Tax.

Syllabus: The course involves the study of the basic principles of income tax law, especially the concepts of income and capital, and the rules relating to deductions. The important provisions of the Income Tax Assessment Acts 1936 and 1997 are considered in detail. In addition there will be a brief survey of the tax treatment of individual tax entities. Case materials and practical illustrations are introduced.

Project Management and Information Systems INFS3059
(6 units)

Second semester

Prerequisites: INFS3024 Information Systems Management.

Syllabus: This course comprises supervised project work that pursues a specific application of information technology in business, industry or government, complemented by a limited amount of coursework.

Public Economics -- Theory (P) ECON2131
(6 units)

May not be offered in 2002

Two lectures and one tutorial per week.

Prerequisite: Completion of or concurrent enrolment in ECON2101/2111 Microeconomics 2 (P or H).

Syllabus: This course uses the basic tools of microeconomics to analyse the role of government and the rationale for and design of taxation and expenditure policy. Emphasis is placed on attaining a solid grasp of the basic theory of public economics. The topics to be covered will be drawn from: a review of basic microeconomics; welfare economics; externalities; public goods; public choice; distribution issues; cost benefit analysis; and taxation -- efficiency and equity issues, Australian tax policy, and fiscal federalism.

Proposed assessment: To be determined.

Public Economics -- Theory (H) ECON2132
(6 units)

May not be offered in 2002

Lectures and tutorials as for the pass course together with additional honours classes and assessment.

Prerequisite: As for ECON2131 Public Economics -- Theory (P).

Syllabus: As for the pass course with additional advanced material.

Proposed assessment: To be determined.

Public Sector Accounting BUSN3006
(6 units)

Second semester

At least three contact hours per week.

Prerequisite: ECON1101 Microeconomics 1 and ECON1102 Macroeconomics 1 or ECON1100 Economics 1 (H), or ECON1001/1011 Economics I (P or H), and BUSN2015/COMM2015 Company Accounting, and BUSN2011/COMM2011 Management Accounting.

Incompatible with COMM3006 Public Sector Accounting.

Syllabus: An examination of the role of government in Australia and its mechanisms for control over public expenditures and resources to insure greater efficiency and effectiveness in government activities, and public sector accounting standards. It considers the public sector environment and how it differs from private markets -- the role of externalities and accountability; recent reforms in public sector financial management. An examination of major issues in public sector financial management -- use of cash and accrual accounting information systems; management of financial and physical assets including environmental and heritage considerations; corporatisation of public sector entities; accounting for and management of superannuation obligations; performance measurement issues for departments of state; management and performance of government business enterprises including privatisation issues; types of public sector audits; roles of the Auditor General and accountability issues; role of the budget, budget process and management, and cash and accrual budgeting systems.

Regression Modelling STAT2008
(6 units)

First semester

Three contact hours per week

Prerequisites: STAT1008 Quantitative Research Methods, or STAT1003 Statistical Techniques, or STAT2001 Introductory Mathematical Statistics, or STAT1007 Quantitative Methods for Business and Economics 2.

Incompatible with EMET2007 Econometrics Methods and STAT2002 Regression Modelling.

Objectives: The course is designed to emphasise the principles of statistical modelling through the cycle of proposing a model, fitting it, criticising it, and modifying it. The use of graphical methods will also be stressed.

Syllabus: Introduction to S-Plus. The simple linear model: statistical inference for simple linear regression, estimation and model diagnostics; transformation models; interpretation of simple linear models. Multiple regression models: matrix formulation; estimation and diagnostics; outliers and measures of influence; variable selection. Models with indicator variables (including experimental designs).

Resource and Environmental Economics ECON2128
(6 units)

First semester.

Two lectures per week plus tutorials throughout the semester.

Prerequisite: Completion of or concurrent enrolment in ECON2101/2111 Microeconomics 2 (P or H).

Syllabus: The course deals with the exploitation of exhaustible, renewable, and environmental resources and the public policy issues that arise in seeking their efficient use. Strong connecting threads are the problem of ill-defined property rights in the market allocation of these resources and the importance of comparing costs and benefits across different periods of time in determining their optimal use. The course first deals with the theory of exhaustible resources and examines the effects of different market and mineral leasing arrangements, and of alternative taxation regimes, on the efficient exploitation of mineral and energy resources. The theory of renewable resource exploitation is discussed, with particular applications to forestry and to fishing and alternative policies for regulating these activities. The latter part of the course examines problems of environmental degradation and natural area conservation, with a particular focus on the alternative policy tools and evaluation procedures that are available to governments to moderate pollution and other forms of environmental damage.

Risk Theory STAT3035
(6 units)

First semester

Three contact hours per week

Prerequisites: STAT3004 Stochastic Modelling.

Incompatible with STAT3031 Risk Theory.

Objective: This course introduces the theory of compound Poisson processes, with a particular emphasis on their application to insurance portfolios (though their applicability in other areas is also noted)

Syllabus: Topics include: Modelling loss distributions; Skewed parametric distribution families; Method of moments, method of percentiles and maximum likelihood estimation; Pearson goodness-of-fit testing for distribution assessment; Truncated and censored data, including applications to reinsurance and policy excess schemes; Random sums, convolutions and compound distributions, particularly for modeling aggregate claim distributions; Normal and gamma approximations to compound distributions; Compound Poisson process theory, including applications to insurance portfolio surplus processes; Ultimate and finite-time ruin probabilities; Adjustment coefficients and optimal reinsurance contracts.

South East Asian Economic Policy and Development (P) ECON3009
(6 units)

First semester

Prerequisites: ECON2101/2111 Microeconomics 2 (P or H) and ECON2102/2112 Macroeconomics 2 (P or H).

Syllabus: The purpose of this course is to provide a rigorous, analytically informed overview of the Southeast Asian economies, with primary emphasis on the period after 1970. The five original ASEAN (Association of Southeast Asian Nations) member states are the focus of study, but their experience will also be related to that of other developing regions where relevant. The ASEAN group contains considerable diversity in terms of resource endowments, policy orientations and economic performance, thereby offering a range of case studies for analysis. The principal themes explored are the economic effects of rapid growth, structural change and changing comparative advantage, and the economic implications of growing regionalisation and internationalisation of the economies. Economic theory and descriptive analysis are combined to assess and evaluate the economic performance and policies of these countries.

South East Asian Economic Policy and Development (H) ECON3019
(6 units )

First semester

Lectures and tutorials as for the pass course together with additional honours classes and assessment.

Prerequisite: As for ECON3009 South East Asian Economic Policy and Development (P).

Syllabus: As for the pass course with additional advanced material.

Proposed assessment: To be determined.

Statistical Inference STAT3013
(6 units)

Second semester

Three contact hours per week

Prerequisites: STAT2009 Generalised Linear Models or EMET2008 Econometric Modelling or STAT2001 Introductory Mathematical Statistics.

Incompatible with STAT3001 Distribution Theory and Inference.

Objectives: This course introduces students to the basic theory behind the development and assessment of statistical analysis techniques in the areas of point and interval estimation and hypothesis testing.

Syllabus: Topics include: Point estimation methods, including method of moments and maximum likelihood; Bias and variance; Mean-squared error and the Cramer-Rao inequality; Sufficiency, completeness and exponential families; the Rao-Blackwell theorem and uniformly minimum variance unbiased estimators; Bayesian estimation methods; Resampling estimation methods, including the jackknife and the bootstrap; Confidence interval construction methods, including likelihood-based intervals, inversion methods, intervals based on pivots and simple resampling-based percentile intervals; Highest posterior density and Bayesian credibility regions; Likelihood ratio tests and the Neymann-Pearson lemma; Power calculations and uniformly most powerful tests; Rank-based non-parametric tests, including the sign-test and Wilcoxon tests.

Stochastic Modelling STAT3004
(6 units)

Second semester

Three contact hours per week

Prerequisites: STAT2001 Introductory Mathematical Statistics.

Objectives: This course introduces students to the theory of basic discrete and continuous time Markov processes and also Gaussian processes including Brownian motion and related processes.

Syllabus: Topics include: Review of random variable characterisations, including cumulative distribution functions, probability density and mass functions, moment generating functions, joint, marginal and conditional distributions and conditional expectations and variances; Markov chains, including state-space decomposition, first-step analysis and determination of stationary and steady state distributions; Markov jump process theory, including embedded Markov chains, homogeneous and inhomogeneous Poisson processes and birth and death processes; Gaussian processes, including Brownian motion, geometric Brownian motion, Brownian bridges, integrated Brownian motion and White Noise.

Strategic Thinking: An Introduction to Game Theory (P) ECON2141
(6 units)

Semester to be advised

Prerequisite: ECON1101 Microeconomics 1 or ECON1001/1011 Economics I (P or H), and EMET1001 Foundations of Economic and Financial Models or STAT1006 Quantitative Methods for Business and Economics 1.

Objectives: The aim of the course is to provide an introduction to the basic techniques of game theory and to illustrate the range of its applications in economics and business. At the completion of the course, students should be able to: identify situations involving strategic behaviour that can be studied with game theory; apply the techniques of game theory to develop simple formal models of strategic situations, and critically evaluate the methodology and assess the usefulness of applications of game-theoretic modelling.

Syllabus: Game theory is the study of multiperson decision problems. In particular, it provides a framework for describing situations of strategic interaction which can be used to predict the behaviour of rational players in interaction with other rational players. The course begins by outlining the ways in which social interactions can be represented as games. Four classes of games will be considered: static games of complete information; dynamic games of complete information; static games of incomplete information, and dynamic games of incomplete information. Corresponding to these four classes of games, four notions of equilibrium in games will be introduced and applied. Each new concept and idea will be introduced and illustrated by way of relevant examples from a range of fields, including macroeconomics, labour economics, public economics, industrial organisation, monetary economics, financial economics and corporate finance.

Strategic Thinking: An Introduction to Game Theory (H) ECON2142
(6 units)

Semester to be advised

Lectures and tutorials as for the pass course, together with an additional honours lecture each week.

Prerequisite: ECON2125 Mathematics for Economists A and ECON2101/2111 Microeconomics 2 (P or H).

Syllabus: The honours course covers the same topics as the pass course in greater depth.

Proposed assessment: To be determined.

Survival Models STAT3032
(6 units)

Second semester

Three contact hours per week.

Prerequisite: STAT2001 Introductory Mathematical Statistics

Incompatible with STAT3032 Actuarial Principles.

Syllabus: This course introduces survival models and discusses their estimation and their application to mortality. Topics covered will include: survival models; estimation procedures for lifetime distributions; statistical models of transfers between multiple states; maximum likelihood estimation of transition intensities for such models; binomial model of mortality including estimation and comparison with multiple state models.

Accounting IV (H) ACCT4004
(Full-time) (24 units)

Accounting IV(H) ACCT4014
(Part-time) (12 units)

First and second semester

Entry into fourth year honours requires the approval of the Head of School. Permission is normally based on the results in second and third year courses. Seminars are also run in the Second semester to provide prospective honours students with an introduction to the honours year. The program comprises four courses of advanced coursework and the completion of a research thesis. Candidates must present a seminar on their proposed thesis during their First semester. Accounting Honours builds on undergraduate studies in auditing, financial accounting or management accounting.

Interested students should contact the Commerce Honours Coordinator, for more detailed information. Explanatory brochures are available.

Actuarial Studies IV (H) ACST4004
(Full-time) (24 units)

Actuarial Studies IV (H) ACST4014
(Part-time) (12 units)

First and second semester

The fourth-year honours program in Actuarial Studies entails consecutive enrolment in ACST4004 for two semesters. Mid-year entry is not possible. Entry to the fourth-year program requires approval of the Head of School. Interested students should discuss their proposed program with the convener of the actuarial honours program in the School of Finance and Applied Statistics.

Applied Economics IV (H) ECON4021
(Full-time) (24 units)

Applied Economics IV (H) ECON4023
(Part-time) (12 units)

First and second semester

Applicants from the ANU should have satisfied the requirements for a Bachelor degree from the Faculty of Economics and Commerce with a Credit grade average in Microeconomics 3 and Macroeconomics 3. Applicants from other universities should have achieved an equivalent standard of performance in economics in their degree program.

The Applied Economics course comprises eight semester-length courses:

Commerce IV (H) COMM4004
(Full-time) (24 units)

Commerce IV (H) COMM4014
(Part-time) (12 units)

First and second semester

Entry to fourth year honours requires the approval of the Head of School. Permission is normally based upon results in second and third year courses. Seminars are also run in the Second semester to provide prospective honours students with an introduction to the honours year. The program comprises four courses of advanced coursework and the completion of a research thesis. Candidates must present a seminar on their proposed thesis during their First semester.

Interested students should contact the Commerce Honours Coordinator, for more detailed information. Explanatory brochures are available.

Economic History IV (H) ECHI4004
(Full-time) (24 units)

Economic History IV (H) ECHI4014
(Part-time) (12 units)

First and second semester

Entry to the fourth-year honours program requires the approval of the Head of School, and interested students should discuss the matter with the Head of School or the convener of the honours program.

The program is designed for students who wish to study economic history at an advanced level and who are interested in carrying out a research project. Students are encouraged to combine their economic history with coursework in related disciplines.

The total honours program is the equivalent of eight semester courses. These consist of:

(a) two fourth-year semester courses in economic history: Research Methods and Resources, and Readings in Economic History.

(b) three semester courses at an appropriate level selected from economic history and related disciplines

(c) a research thesis which is given the weight of three semester courses. The topic of research must be approved after consultation in the School, and work on the thesis is supervised by a member of the School.

Economics IV (H) ECON4004
(Full-time) (24 units)

Economics IV (H) ECON4014
(Part-time) (12 units)

First and second semester

Applicants from the ANU should have satisfied the requirements for the Bachelor of Economics pass degree at the ANU with a Credit grade average in Microeconomics 3, Macroeconomics 3, International Economics and Economics 3(H). In addition applicants should have passed the courses Mathematics for Economists A and Mathematics for Economists B. Applications from students at other universities are also welcomed. Applicants should have achieved an equivalent distinguished standard of performance in economics in their degree program. Students may take the bridging course offered by the School in February that reviews the principal analytical economic and mathematical techniques upon which the program builds.

The course consists of a mix of coursework and research. The coursework requires completion of seven semester length courses:

Economics/Econometrics IV (H) ECON4006
(Full-time) (24 units)

Economics/Econometrics IV (H) ECON4016
(Part-time) (12 units)

First and second semester

Further details may be obtained from the School of Economics.

Finance IV (H) FINM4004
(Full-time) (24 units)

Finance IV (H) FINM4014
(Part-time) (12 units)

First and second semester

Entry into fourth year honours requires the approval of the Head of School. Permission is normally based on the results in second and third year courses. Seminars are also run in the Second semester to provide prospective honours students with an introduction to the honours year. The program typically involves four courses of advance coursework and the completion of a research thesis.

Finance Honours builds on undergraduate finance courses. As well as the research thesis, students take three compulsory courses: Advanced Corporate Finance, Advanced Investments, and Research Method and Data Analysis. A fourth course is normally chosen from International Finance, Derivative Instruments and Markets ,applied econometrics or statistics courses.

Interested students should contact the Finance Honours Coordinator, for more detailed information.

Public Economics IV (H) ECON4003
(Full-time) (24 units)

Public Economics IV (H) ECON4008
(Part-time) (12 units)

First and second semester

Further details may be obtained from the School of Economics.

Statistics IV (H) ECON4004
(Full-time) (24 units)

Statistics IV (H) ECON4014
(Part-time) (12 units

First or second semester

The fourth-year honours program entails consecutive enrolment in STAT4004 for two-semesters, mid-year entry is possible. Entry to the fourth-year program requires approval of the Head of School. Interested students should discuss their proposed program with the convener of the statistics honours program in the School of Finance and Applied Statistics.

Commerce -- Selected graduate courses available to undergraduates

Students enrolled in the Bachelor of Commerce and Bachelor of Electronic Commerce programs may include as part of the degree not more than 12 units of graduate-level courses offered through the Graduate Program in Commerce. A standard semester course will be assigned a value of six units. Entry to such courses is subject to Faculty approval and only with the written permission of the Head of the School of Business and Information Management. Information concerning course availability may be obtained from the School Office.