Graduate Diploma in Economics

Course F01AA (2011)

Note: This is an archived Handbook entry from 2011.

Year and Campus: 2011 - Parkville
Fees Information: Subject EFTSL, Level, Discipline & Census Date
Level: Graduate/Postgraduate
Duration & Credit Points: 100 credit points taken over 24 months part time.


Associate Professor Chris Skeels


Graduate School of Business and Economics
Level 4, 198 Berkeley Street
Telephone: +61 3 8344 1670
Online Enquiries

Course Overview: This course aims to provide an opportunity for graduates with a three year degree in any discipline from a recognised Australian University, or equivalent, to complete via eight subjects of study a sequence of subjects specialising in economics or econometrics.
Objectives: On successful completion of this course, students should be able to:
  • Understand, apply and critically evaluate the key concepts and techniques of microeconomics, macroeconomics and econometrics;
  • Apply their analytical skills developed as a result of the knowledge gained primarily from the in-depth study in selected elective subjects in economics;
  • Access economic data, summarise and interpret the data, and combine economic models and data;
  • Build and apply economic models for purposes of description, for forecasting, and for assessing business and household decision options and government policy options;
  • Explain, apply and critically evaluate the application of economic models to describe choice decisions of firms, households and governments, and to measure and evaluate the performance of the economy; and
  • Interpret and critically evaluate economic studies using econometric methods, as well as econometric studies reported in the literature and in reports issued by governments and the private sector.

Course Structure & Available Subjects: The Graduate Diploma consists of eight semester-length subjects comprising:

Subject Options:

Three core subjects:

Study Period Commencement:
Credit Points:
Semester 1, Semester 2
Semester 1, Semester 2
Semester 1, Semester 2

At least one of:

Study Period Commencement:
Credit Points:
Summer Term, Semester 1

and at least one of:

Study Period Commencement:
Credit Points:
Semester 1, Semester 2
Summer Term, Semester 1, Semester 2

Elective subjects selected from:

  • At least two level 3 subjects taught by the Department of Economics.
  • Remaining subjects to be chosen from level 2 and level 3 subjects taught by the Department of Economics.

Entry Requirements:

The minimum entry requirement is a three-year undergraduate degree from a recognised Australian university and a study score of at least 25 in Maths Methods in VCE in units 3 and 4, or equivalent

Core Participation Requirements:

The Faculty of Business and Economics welcomes applications from students with disabilities. It is University and Faculty 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 Faculty’s programs.

The BCom and Masters degrees of the Faculty of Business and Economics equip graduates with the knowledge and technical skills necessary to understand and participate in the modern business world. The degrees include the following academic requirements for study:

(1) The ability to explain and evaluate concepts, theories, institutional arrangements and operations of modern mixed economies;
(2) The ability to critically evaluate the economy, commerce and business in the broader social and political context;
(3) The ability to explain and apply concepts across a range of commerce and business disciplines in solving business and policy problems; and
(4) The ability to contribute positively to the development of organisations and society in relation to business, government and the commercial professions.

All students of the Faculty’s courses must possess intellectual, ethical, and emotional capabilities required to participate in the full curriculum and to achieve the levels of competence required by the Faculty. Candidates for the BCom degree and for FBE Masters degrees must have abilities and skills in communication; in conceptual, integrative, and quantitative dimensions; and in behavioural and social dimensions.

I. Communication: The student must be able to communicate effectively and efficiently in oral and/or written form. A student must have the ability to clearly and independently communicate knowledge and application of a discipline, principles or practices during assessment tasks, and in some discipline streams.

II. Intellectual‐Conceptual, Integrative and Quantitative Abilities: The student is expected to have the ability to develop problem‐solving skills and demonstrate the ability to establish study plans and priorities. These abilities include measurement, calculation, reasoning, analysis, and synthesis. Problem solving requires all of these intellectual abilities. Students should also have the ability to comprehend complex disciplinary and cross disciplinary information related to the BCom and Masters degrees.

III. Behavioural and Social Attributes: A student must possess behavioural and social attributes that enable them to participate in a complex learning environment and the emotional health required for full utilisation of his/her intellectual abilities. Students are required to take responsibility for their own participation and learning. They also contribute to the learning of other students in collaborative learning environments, demonstrating interpersonal skills and an understanding of the needs of other students. Assessment may include the outcomes of tasks completed in collaboration with other students. Integrity, concern for others, interpersonal skills, interest, and motivation are all personal qualities that are deemed necessary for students enrolled in FBE courses.

Students who feel their disability will prevent them from participating in tasks involving the inherent academic requirements of the BCom and FBE Masters courses are encouraged to contact the Disability Liaison Unit. Adjustments can be provided to minimise the impact of a disability, but students should participate in the course in an independent manner.

Graduate Attributes:

On successful completion of this course, students should have enhanced their skills in:

  • 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; and
  • Oral communication.

Please note:

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

1. Entry to the Postgraduate Diploma in Economics would be available to students who complete 316-312 and 316-313 with an average grade of 70% or above, and who complete either 316-205 or 316-206;

2. Students in the Graduate Diploma are allowed to undertake 316-101 and 316-102 in the same semester;

3. Students who have already completed core subjects in the Graduate Diploma would substitute those subjects for level 2 or level 3 subjects taught by the Department of Economics.

4. Students can commence the program in either Semester 1 or Semester 2.

5. This program is available to study on a part-time basis only.


Students must pass all eight subjects to qualify for the Graduate Diploma in Economics.

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