Honours in Economics (HECON)

General Information

Honours in Economics is a program offered by the Research School of Economics. The program offers students who have excelled in their undergraduate studies a challenging but rewarding year of study in economics. We seek outstanding students who are keen to undertake independent economics research with one-on-one guidance from faculty members. Students are also exposed to more advanced coursework training which equips them with a deeper understanding of economic data, economic theory, econometric theory/methods, computational skills and the interplay between these aspects of doing modern economics.

A successful Honours in Economics student is expected to be able to conduct independent research and apply themselves to solve new problems. He or she would also possess a well-rounded set of knowledge and technical skills applicable to many careers in government and the private sector. Past students graduating from the Honours in Economics program have been highly successful with careers in government, Industry and academia in leading institutions and organisations around the world. Honours in Economics at ANU also provides a strong foundation and pathway towards the best graduate economics/finance programs in the world.

The number of places available in the program are subject to supervisory capacity. Honours in Economics cannot be taken part time. There is no mid-year entry to the program. Program requirements (supervised research, compulsory and elective coursework components) are listed on the ANU Programs and Courses page (HECON).

Program Structure

Fourth-year Honours consists of a mix of coursework and research: there are two prescribed courses, elective courses (with at least two elective courses to be chosen from a compulsory list* of advanced electives), and a supervised research essay (that is given the weight of two single-semester courses).

Semester 1

  • Microeconomic Theory A (ECON4411)
  • Macroeconomic Theory (ECON4422)
  • Elective Course*
  • Research Component

Semester 2

  • 3 Elective Courses*
  • Research component

All elective courses are chosen in consultation with the Honours convenor at the beginning of each semester. A generic list of relevant electives can be found on the ANU Programs and Courses HECON page, but they are subject to availability and additional regulations to be determined by the Research School of Economics. These regulations will be provided at the beginning of the year when students enrol into the program.

How to Apply

Read the following two sections carefully.

Eligibility to Apply

Condition 1: Within the last two years of applying, Applicants must possess an AQF Level 7 Bachelor degree (or equivalent) in:

  • Economics, or,
  • a cognate discipline

or alternatively, Applicants must have one of the following Majors or equivalent:

  • Mathematical Economics Major
  • Economic Studies Major

Condition 2: Students satisfying Condition 1 above must also possess a weighted average of 70 per cent (ANU marks or equivalent) across any 36 units of courses. This minimum requirement

  • must exclude 1000-level courses (i.e., introductory undergraduate courses), and,
  • must include 18 units from*

Students must also complete ECON2125 Optimisation for Economics and Financial Economics.*

Note: Or their respective equivalents, for Applicants without prior ANU qualification. For ANU B.PPE students, ECON3056 PPE Integrative Seminar Year 3 is an alternative to the ECON3100 Economics 3(H) pre-requisite.

Condition 3: Students must expect to complete their current (pre-honours) coursework before December.

Applications from students at other universities are welcomed. Applicants should have achieved an equivalent standard of performance in economics in their degree program.

How to Apply

  • For entry in 2018 and after: All existing ANU and external applicants must apply through the university admissions process:
    1. Go to http://programsandcourses.anu.edu.au/
    2. Type HECON in the search bar
    3. Click on the APPLY button on the HECON description page

Important Dates

One year before you undertake the Honours program:

  1. Check eligibility to apply
  2. Application deadlines (See also "How to Apply" tab)
    • September 30 (for current ANU students)
    • December 15 (for external applicants)
  3. You may receive an early offer conditional on a satisfactory completion by the end of your undergraduate program
  4. December 2: Send complete degree transcript (must state "Official Transcript") to honours.rse@anu.edu.au by this date
  5. If you do not receive an invitation by end of December you may assume that your application has been unsuccessful

Starting the Honours program:

  1. In early- to mid-January, there will be a refresher Mathematics Summer Course. All students are encouraged to participate
  2. Honours students will be contacted by the Program Convenor regarding:
    • programs rules and expectations
    • course options and enrolment procedure
  3. A welcome reception will usually be held at the beginning of Semester 1
  4. Students should make an appointment to see the Program Convenor in the first two weeks of Semester 1 to discuss:
    • elective course options
    • research interests and supervision arrangements

Pathways

These are some example study options (suggested pathways) for ANU undergraduate students intending to apply for ECON IV(H) in the near future.

Students in Bachelor of Economics (including flexible double degrees)

Note:

  • For students entering their B.Ec program mid-year, you will need to plan ahead and overload on the necessary courses to be in time for Econ IV (H) which will only commence from the start of each year. Alternative you may wait for one semester before you commence the Honours year. There is no mid-year intake into Econ IV (H).
  • For students in flexible double degrees which include B.Ec, the Year reference in this table would be subject to your timing of other courses.

B.Ec Option 1

Study option for students in B.Ec who know at the beginning of first or second year that they want to satisfy admission requirements for ECON IV (H):

Year 1 48 units

ECON1101 Microeconomics 1

6 units

STAT1008 Quantitative Research Methods 6 units

6 units

List 1 Elective Course

6 units

Elective Course

6 units

ECON1102 Macroeconomics 1

6 units

EMET1001 Foundations of Economic and Financial Models

6 units

List 1 Elective Course

6 units

Elective Course

6 units

Year 2 48 units

ECON2101 Microeconomics 2(P)

6 units

EMET2007 Econometrics I: Econometric Methods

6 units

Elective Course

6 units

ECON2125 Optimisation for Economics and Financial Economics

(ECON IV Hons required)

6 units

ECON2102 Macroeconomics 2(P)

6 units

Elective Course

6 units

Elective Course

6 units

Elective Course

6 units

Year 3 48 units

ECON3101 Microeconomics 3

6 units

List 1 Elective Course

6 unit

EMET3006 Applied Micro-econometrics (recommended)

6 units

Elective Course

6 units

ECON3102 Macroeconomics 3

6 units

ECON3100 Economics 3 (H) (ECON IV Hons required)

6 units

EMET3004 Econometrics II: Econometric Modelling

6 units

EMET3008 Applied Macro and Financial Econometrics (recommended)

6 units

B.Ec Option 2

Study option for students in B.Ec who know at the beginning of first or second year that they want to satisfy admission requirements for ECON IV (H), and, who prefer to complement their Honours experience with more analytical and/or quantitative skills:

Year 1 48 units

ECON1101 Microeconomics 1

6 units

STAT1008 Quantitative Research Methods 6 units

6 units

MATH1115 Advanced Mathematics and Applications 1 (recommended)

6 units

Elective Course

6 units

ECON1102 Macroeconomics 1

6 units

EMET1001 Foundations of Economic and Financial Models

6 units

MATH1116 Advanced Mathematics and Applications 2 (recommended)

6 units

Elective Course

6 units

Year 2 48 units

ECON2101 Microeconomics 2(P)

6 units

EMET2007 Econometrics I: Econometric Methods

6 units

Elective Course

6 units

MATH2320 Advanced Analysis 1 (recommended)

6 units

ECON2102 Macroeconomics 2(P)

6 units

Elective Course

6 units

Elective Course

6 units

ECON2125 Optimisation for Economics and Financial Economics

(ECON IV Hons required)

6 units

Year 3 48 units

ECON3101 Microeconomics 3

6 units

List 1 Elective Course

6 units

EMET3006 Applied Micro-econometrics (recommended)

6 units

Elective Course

6 units

ECON3102 Macroeconomics 3

6 units

ECON3100 Economics 3 (H) (ECON IV Hons required)

6 units

EMET3004 Econometrics II: Econometric Modelling

6 units

ECON3127 Mathematics for Economists B (recommended)

6 units

Students in Bachelor of Philosophy, Politics and Economics

Note:

  • For students entering their B.Ec program mid-year, you will need to plan ahead and overload on the necessary courses to be in time for Econ IV (H) which will only commence from the start of each year. Alternative you may wait for one semester before you commence the Honours year. There is no mid-year intake into Econ IV (H).
  • For students in flexible double degrees which include B.Ec, the Year reference in this table would be subject to your timing of other courses.

B.PPE Option 1

Study option for students who know at the beginning of first year that they want to satisfy admission requirements for Econ IV (H):

Year 1

48 units

POLS1002 Introduction to Politics

6 units

ECON1101 Microeconomics 1

6 units

PHIL1004 Fundamental Ideas in Philosophy: An Introduction

6 units

EMET1001 Foundations of Economic and Financial Markets


6 units

POLS1008 PPE Integrative Seminar Year 1: Puzzles in Politics, Philosophy and Economics

6 units

PHIL1005 Logic and Critical Thinking

6 units

POLS1009 Research and Writing in Political Science 
6 units

ECON1102 Macroeconomics 1(P) or ECON1100 Economics 1(H)

6 units

Year 2

48 units

ECON2101 Microeconomics 2(P)

6 units

Non-compulsory Politics list Course

6 units

Elective Course


6 units

Elective Course

6 units

PHIL2116 PPE Integrative Seminar Year 2 

6 units

Non-compulsory Philosophy list Course 6 units

Non-compulsory Politics list Course 
6 units

ECON2102 Macroeconomics 2(P)

or ECON2016 Economics II(H)
6 units

Year 3

48 units

Non-compulsory Philosophy list Course

6 units

ANIP/ECON/PHIL/POLS 2000/3000 Level Course

6 units

ECON3101 Microeconomics 3


6 units

ECON2125 Optimisation for Economics and Financial Economics

6 units

ECON3056 PPE Integrative Seminar Year 3: Classic Literature in PPE

6 units

Elective Course

6 units

ECON3102 Macroeconomics 3


6 units

Elective Course

6 units

B.PPE Option 2

Study option for students who decide, at the beginning of second semester in their first year, that they want to satisfy admission requirements for Econ IV (H):

Year 1

48 units

POLS1002 Introduction to Politics

6 units

ECON1101 Microeconomics 1

6 units

PHIL1004 Fundamental Ideas in Philosophy: An Introduction

6 units

Elective Course 6 units

POLS1008 PPE Integrative Seminar Year 1: Puzzles in Politics, Philosophy and Economics

6 units

PHIL1005 Logic and Critical Thinking

6 units

POLS1009 Research and Writing in Political Science

6 units

ECON1102 Macroeconomics 1(P) or ECON1100 Economics 1(H)

6 units

Year 2

48 units

ECON2101 Microeconomics 2(P)

6 units

Non-compulsory Politics list Course

6 units

Elective Course

6 units

EMET1001 Foundations of Economic and Financial Markets

6 units

PHIL2116 PPE Integrative Seminar Year 2

6 units

Non-compulsory Philosophy list Course

6 units

Non-compulsory Politics list Course

6 units

ECON2102 Macroeconomics 2(P) or ECON2016 Economics II(H)

6 units

Year 3

48 units

Non-compulsory Philosophy list Course

6 units

ANIP/ECON/PHIL/POLS 2000/3000 Level Course

6 units

ECON3101 Microeconomics 3

6 units

ECON2125 Optimisation for Economics and Financial Economics

6 units

ECON3056 PPE Integrative Seminar Year 3: Classic Literature in PPE

6 units

Elective Course

6 units

ECON3102 Macroeconomics 3

6 units

Elective Course

6 units

B.PPE Option 3

Study option for students who decide at beginning of second year that they want to satisfy admission requirements for Econ IV (H)

Year 1

48 units

POLS1002 Introduction to Politics

6 units

ECON1101 Microeconomics 1

6 units

PHIL1004 Fundamental Ideas in Philosophy: An Introduction

6 units

Elective Course

6 units

POLS1008 PPE Integrative Seminar Year 1: Puzzles in Politics, Philosophy and Economics

6 units

PHIL1005 Logic and Critical Thinking

6 units

POLS1009 Research and Writing in Political Science

6 units

Elective Course

6 units

Year 2

48 units

ECON2101 Microeconomics 2(P)

6 units

Non-compulsory Politics list Course

6 units

EMET1001 Foundations of Economic and Financial Markets

6 unit

ECON1102 Macroeconomics 1(P)

6 units

PHIL2116 PPE Integrative Seminar Year 2

6 units

Non-compulsory Philosophy list Course

6 units

Non-compulsory Politics list Course

6 units

ECON2102 Macroeconomics 2(P) or ECON2016 Economics II(H)

6 units

Year 3

48 units

Non-compulsory Philosophy list Course

6 units

ANIP/ECON/PHIL/POLS 2000/3000 Level Course

6 units

ECON3101 Microeconomics 3

6 units

ECON2125 Optimisation for Economics and Financial Economics

6 units

ECON3056 PPE Integrative Seminar Year 3: Classic Literature in PPE

6 units

Elective Course

6 units

ECON3102 Macroeconomics 3

6 units

Elective Course

6 unit

Note:

  • For B.PPE students ECON3056 PPE Integrative Seminar Year 3 is an alternative to the ECON3100 Economics 3(H) pre-requisite.

Past Honours Research Projects

2016

  1. Emma Greenland, The Impact of Market Structure on Pass-through of International Beef Prices to Local Cattle Prices
  2. Ruobing Han, Two levels of preferences: a unifying approach to social choice revisiting Diamond's critique after 50 years
  3. Ieng Man Ng, Monetary Policy and Endogenous Asset Pricing Risk Premium

2015

  1. Zelin Chen, Modeling Australian Household's Value of Vehicles over Life-Cycle
  2. Zac Cranko, Equilibrium Price Discovery and Forecasting in Markets Over State-Contingent Consumption
  3. Luke Crowther, On Revolving Doors and the Accuracy of Credit Rating Agencies
  4. June Ma, A Model of Market Structure in Bitcoin Mining
  5. Amanda Mclean, A Tale of Three Regions: Causes of Wage Dierences of Migrant Workers in China

2014

  1. Nawaaz Khalfan, Comparing Patent Regimes: An Analysis of Sequential Innovation under Incomplete Contracts
  2. Mingji Liu, Migration for Sale: Interest Groups and Temporary Skilled Migration Programmes
  3. Christine Ma, Ageing and the fiscal space: the case of Japan
  4. Brendan Russell, Imposing Limits on Equalisation Transfers
  5. Yuji Sakai, An impure public good model of local food systems: Aggregative games and simulation

2013 and earlier

  • A behavioral macroeconomic model under open economy settings
  • Does censorship affect the diffusion of communication technology?
  • The provision of parking on urban arterial roads
  • The support restriction in finite games of communication
  • Competition between two universities that use prices and admission standards as the admission policies
  • Modelling Norms: Reconciling "Commitment" and Preference-Satisfaction
  • A Microstructure Approach to Exchange Rates: Revisiting A Giant
  • The Use of Prizes as an Alternative to Patents to Encourage Pharmaceutical Innovation
  • Optimal Antibiotic Use and Incentives to Invest in R & D
  • Horizontal Mergers and Foreign Entry
  • Estimating Equivalence Scales using Financial Stress Measures
  • When I'm Sixty Four: A Review and Analysis of the Role of Government in the Provision of Retirement Incomes
  • East Asian Exchange Regimes: Counterfactuals on Recent Controversies
  • Duty Drawbacks on Intermediate Inputs in Thailand's Export Promotion Strategy
  • Welfare and Antitrust Policy
  • Insurance in a General Asset Market
  • Strategic Behaviour in the Contingent Valuation Method
  • The Pay-TV Debacle: An Analysis of the Call Option Dimension of an Auction
  • Increasing Returns, Capital Mobility and the Real Exchange Rate
  • The Costs and Benefits of Funding Secondary Education with Taxable Vouchers
  • Litigation and Settlement: The Australian Experience
  • An Efficient Level of Water Diversions: A Cost-Benefit Analysis of Increasing In-Stream Flows to the Murrumbidgee Catchment of the Murray-Darling Basin
  • Estimating Recreation Use Benefits: A Case Study of Tidbinbilla Nature Reserve
  • Price Discrimination and Competition: An Empirical Examination of Mobile Phone Pricing Schemes
  • Australia's Native Forests: Problems with State Ownership and Potential Solutions
  • Possible Implications of Sanctions Against Apartheid
  • Tax Evasion and Bureaucratic Corruption
  • Competitive Coalition Building
  • The Political Economy of China’s Agricultural Sector: A Study of Tariff Formation and Demographic Transition
  • Economy-Wide Consequences of Regulatory Reform in an Australian Context
  • Monetary Policy and Endogenous Asset Price Misalignments
  • Financing Investment in Human Capital
  • Modelling Adverse Selection in Australia's Private Health Insurance Industry
  • The Effects of Data Revision on Macroeconomic Policy
  • The Optimality of Workfare and Training in Income-Maintenance Programs
  • Why do Petrol Prices Fluctuate in Cycles?
  • Subsidising Child Care Costs: An Efficiency Analysis
  • A Game Theoretical Model of ATM Sharing
  • Remuneration Contracts for Lawyers
  • Free Banking, Hong Kong and a Cure for Currency Speculation
  • Workers’ Entitlements: An Agency Perspective
  • Individual Transferable Quotas
  • On the Use of Ambient Taxes to Manage Non-Point Source Pollution
  • Real Options and Investment
  • Firm Size and the Training Decision
  • Routes to Lower Fertility
  • Access Pricing and Electricity Transmission in South-Eastern Australia
  • Patents: An Economic Study
  • Reflections on Marriage and the Design of Income Tax Systems
  • An Economic Analysis of the Taxation of Fringe Benefits of Australia

Updated:   29 November 2016 / Responsible Officer:  Dean, Business & Economics / Page Contact:  College Web Team