Postgraduate Diploma In Economics

Course 246-AA (2009)

Note: This is an archived Handbook entry from 2009. Search for this in the current handbook

Year and Campus: 2009
Fees Information: Subject EFTSL, Level, Discipline & Census Date
Level: Graduate/Postgraduate


Melbourne Graduate School of Management

Course Overview: Graduates of the Postgraduate Diploma of Economics should acquire and be able to apply the skills of a professional economist at an honours level. Those with good results will be eligible for graduate level study in economics and econometrics at the Masters and PhD levels.
Objectives: On successful completion of this course, students should be able to:
  • apply and critically evaluate, at an advanced or honours level, the key concepts and techniques of microeconomics, macroeconomics and econometrics
  • apply analytical skills developed primarily through the in-depth study of elective subjects in economics or econometrics
  • apply theory to economic policy and business decision making
  • explain and critically evaluate the use of economic and econometric models for description and hypothesis testing, forecasting, assessing different business decision options and for assessing different government policy options.

On successful completion of this course, students should be able to demonstrate the following attributes and skills:

  • Evaluation of ideas, views and evidence
  • Synthesis of ideas, views and evidence
  • Strategic thinking
  • Critical thinking
  • Research
  • Summary and interpretation of information
  • Using computer programs
  • Statistical reasoning
  • Problem solving
  • Collaborative learning and team work
  • Written communication
  • Oral communication.
Course Structure & Available Subjects: The Diploma consists of eight semester-length subjects comprising two core economics subjects, a quantitative subject and five elective subjects.
Subject Options: Two core economics subjects:
Study Period Commencement:
Credit Points:

At least one quantitative subject selected from:
Study Period Commencement:
Credit Points:
Semester 1
Semester 1
Semester 2
Semester 2
Semester 1
Semester 2
Five elective subjects:

Selected from third year (level three), fourth year (level four), diploma level and advanced offerings of the Faculty as approved by the Academic Director of the program. An elective subject may not be taken if a candidate has previously completed a subject of similar content. Note that some fourth year (level four) subjects are not available to Diploma students.
Entry Requirements:

1. The Selection Committee will evaluate the applicant's ability to pursue successfully the course using the following criteria-

  • An undergraduate degree with a major in Economics, including subjects which satisfy the prerequisites of the core economics subjects and the quantitative requirement of the Postgraduate Diploma in Economics.

2. The Selection Committee may conduct interviews and tests and may call for referee reports and employer references, as appropriate, to elucidate any of the matters referred to above.

Core Participation Requirements:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support:

Graduate Attributes: None

Please note:

Entry to the Postgraduate Diploma in Economics will not be available from Semester 1, 2009.

  1. A maximum of three third year (level three) subjects can be included within the five elective subjects and not more than two elective subjects can be done outside the Department of Economics.
  2. Students may enrol in 333-201 Business Finance. In such cases, Business Finance will count as a third year (level three) subject.
  3. Students enrolled in the Postgraduate Diploma in Economics may not enrol in: 316-802 Macroeconomics for Managers and subjects from the professional Masters programs, including Master of Applied Commerce, Master of Management, Master of Business and Information Technology, Master of Applied Finance and Master of International Business.
  4. A maximum of two Masters (level six) subjects can be included as part of the Postgraduate Diploma in Economics.
  5. Students wishing to enter the Master of Commerce by Coursework (Specialisation in Economics) should note that admission requires:
  • that the Postgraduate Diploma in Economics is completed with an average grade across all of their subjects of at least 70% (H2B) or better; and
  • the successful completion of 316-317 Econometrics

Students wishing to progress to the Master of Commerce (Specialisation in Economics) should note that they may only commence the Master of Commerce (Specialisation in Economics) in February of any year.

Download PDF version.