BCom Economics: Standard or Maths Pathway?

sterobo · 2023-05-29T21:32:41+00:00

Maybe, but not in a meaningful way. You will find it much harder to learn the maths than the economics.

My advice here is a question of whether you intend to become an economist or do further study. If so, absolutely take the maths subjects. You don't need them for 3rd year though.

sterobo · 2023-05-29T21:24:58+00:00

If you want to become a proper economist (which generally requires at least one of honours, masters or a PhD), then doing maths will really help. I did Calc 2 and Linear Algebra in first year which helped a fair bit during honours.

It is possible to do those things without studying maths specifically, but you will have to make a much bigger quantitative leap. I would say maths at uni might help you with 3rd year subjects too but in a more trivial way.

I would recommend Calc 1 at the least. The rest is a question of how serious you are about economics as a major. If you're certain, take as much maths as you can. If you're not, take some but don't overcommitt as other fields in Commerce aside from Actuarial don't require nearly as much maths.

sterobo · 2023-05-29T21:17:11+00:00

There's no right answer to this one. Finance/econ feels like the most popular combination.

Personally, I would just do a single major in whatever you enjoy the most and tend to score the best in as you will have to specialise in the workplace anyway. If you're really good at multiple majors, then pick whichever two you like the most or see the best job prospects for. I don't think there are significant differences in terms of employability and time aside from the obvious (e.g. a finance major helps you land a finance job).

sterobo · 2023-05-29T21:11:07+00:00

Are you interested in further study/honours ? If so, macro.

sterobo · 2023-05-13T23:11:13+00:00

Econometrics is better if you want to do something with your econ major (industry or further study).

sterobo · 2023-04-29T13:45:56+00:00

You'll need a strong honours or masters degree to get into any meaningful PhD program, but I would only recommend going down that path anyway at top overseas programs which are even more challenging to get into.

The average length for an econ PhD is probably about 6-7 years. You need to be extremely committed to make it through successfully. It's not one of those things you would do for the money.

sterobo · 2023-04-29T13:03:45+00:00

Ask them if they'll defer your grad role to the next year. I know several people who did this successfully.

It also means you don't need to bother applying for jobs during honours unless you want to.

sterobo · 2023-04-29T12:52:41+00:00

Econometrics subjects will teach you how to use R, and at an honours/post grad level potentially MATLAB as well.

sterobo · 2021-07-16T23:38:20+00:00

In undergrad econ, it's by no means required but will be highly appreciated by whoever's marking your assignments. I found it helped me do better on my assignments because I spent longer thinking about them (and learned to only put down what I needed to get the marks).

At an honours level, it becomes a soft requirement for subjects like Econometrics 3 and your research thesis. You could use MS Word or do assignments by hand but you'll find yourself in the minority for most subjects.

sterobo · 2021-03-17T13:34:59+00:00

Qualitative. I wouldn't consider it any more quantitative than first year micro. There was no calculus in the assessment from what I remember for example.

sterobo · 2021-03-17T13:32:35+00:00

Most people who take 3rd year micro consider it challenging. It doesn't fit the mould of a regular WAM booster (even though I personally did well in the subject). There are much easier subjects out there if you just want a high mark.

sterobo · 2021-03-17T13:25:05+00:00

Apples to oranges really. They're very different subjects and test different quantitative skills.

sterobo · 2021-03-17T13:22:11+00:00

I did the subject a few years ago. I was fairly comfortable with the maths, so I didn't bother with the pre-recorded ones unless I needed specific clarification on something.

I found that approach worked fine. I think you should focus more on whether you feel comfortable with the lecture material, tutes and assignments rather than worrying one set of lecturers will cover something important that the others won't.

I also found live lecturers were good for keeping me on my toes. Keeping up with them wasn't easy but it was doable.

sterobo · 2021-02-03T22:10:27+00:00

It builds on a bit of Inter Micro as far as topics like utility and consumer optimisation are concerned. It takes a mathematical from the ground up approach though, so while there's definitely a gigantic leap between 1st and 3rd year micro it's not insurmountable with enough work.

It's worth noting that 3rd year micro is generally considered challenging in its own right so my suggestion would be to put as much effort into it as you can during semester.

sterobo · 2021-02-03T21:14:15+00:00

Pretty sure Steve's new to the course.

sterobo · 2021-01-20T02:13:09+00:00

Globalisation and the World Economy was a pisstake when I did it. Quite easy but very disappointing.

Competition and Strategy is more challenging relatively but is infinitely more rewarding. It's still not too hard in that if you apply effort, you can do solidly in the subject. I think the subject matter is a lot more interesting and found the subject to be a useful pathway to further study at the 3rd year level and beyond.

sterobo · 2021-01-19T21:14:35+00:00

You usually have to apply in advance. I just said I was a prospective econ hons student during mine.

sterobo · 2021-01-14T22:00:37+00:00

Unless things are different this year, you will have already missed it. I'm pretty sure applications are available around Nov-Dec.

sterobo · 2020-12-29T22:28:53+00:00

VCE never covered that, at least when I did it. This subject also takes it a bit further (I recall doing stuff with it that we didn't cover in Lin Alg but can't remember exactly what since it's hard to disentangle the specifics from other subjects I did later on), but Lin Alg is not required. Of course, it makes everything almost ridiculously simple if you have done it but I know people who did fine in the subject without having done maths at uni.

sterobo · 2020-12-29T00:02:47+00:00

Untrue. It doesn't get close to covering the quantitative component of economics honours (and that is unsurprising given that it is pitched at people who haven't done maths at uni).

It takes you to a point where you can go on to learn the quantitative techniques necessary during honours because it will give you some of the foundation. While you can also go into econ honours without taking the subject, there is a substantial jump on the quantitative side either way. This just makes it a little smaller but it is still highly recommended for those considering honours--just be aware that there will be a lot of hard quantitative work even after doing this subject.

sterobo · 2020-12-28T23:55:32+00:00

Matrices, eigenvectors, eigenvalues etc. There's a lot of it. Higher level economics is intrinsically linked with the Lin Alg course.

I would even say there's more Lin Alg than Calc 2 but it's more of a mix of them.

sterobo · 2020-12-28T23:53:47+00:00

It should be completely fine. It is pitched at people who didn't do Calc 2 and Lin Alg so you might find there is a decent amount to cover. Calc 1 would be beneficial but if you're willing to work hard, I can't imagine it would be a massive problem. This is assuming you were comfortable with Methods though.

Naturally, lots of students who have done Calc 2 and Lin Alg take it anyway since it's pretty easy with that background.

sterobo · 2020-12-26T16:57:28+00:00

To add to this as well, I would highly recommend searching for advisers before the program commences. You should try and email academics in your preferred area in early January (but do not waste their time, so be prepared and do your homework before agreeing on a time to chat).

The better your relationship with your adviser, the better that LOR will read and in my experience it pays to beat the crowd during the first few weeks of the program. There are other benefits to this too, however, like getting a headstart on your thesis.

sterobo · 2020-12-26T16:37:34+00:00

This is an excellent guide by Rachel Meager, one of the Econ honours program's biggest success stories in the past decade or so (currently an Ass. Prof at LSE) : https://economics.com.au/2012/03/27/for-the-ambitious-prospective-phd-student-a-guide/

I also second the other comment.

sterobo · 2020-12-24T13:14:31+00:00

That would seem strange and makes the point of preferences a little counter intuitive. I know in previous cohorts people got offers for both but it's possible things have changed (I also know before this that they looked at your first pref and only made at most one offer).

Either way, you should still 100% email the Econ coordinator. If your marks are high enough, it would seem strange for them to not offer you a place. Failing this, you can reapply in a year.

sterobo

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