(Access this page by http://tinyurl.com/MonashEconHonoursUnitSelection)
This page is for the incoming Honours student cohort for 2017: you will have accepted an offer received by email from Dr Choon Wang (or via the Faculty Honours Coordinator Heidi Scherer in the post).
Note: for ECON/EBS students
This page is primarily set up for Econ Honours students. If you are an Econ/EBS student, then please see the attached instructions for unit selection: here. You will need to get your choices agreed to by both Dr Choon Wang (Econ) and Professor Xueyan Zhao (EBS).
Unit Selection (2017)
Welcome to the unit selection tool for 2017!
Steps to Organising your Enrollment
Step 1: The basic structure
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Have a look at the picture at right.
- First, notice that the Honours year is made up of 8 units in all: 4 units in each semester.
- Second, notice that the Research Project (ECC4860 Honours Research Project) is 2 of the 8 units, and this is conducted over both semesters. So the Research Project takes up one unit in each semester.
- Third, notice that in Semester 1, we require you to undertake two other compulsory units: Honours level Micro (ECC4650) and Macro (ECC4660). These are foundational for the Honours year and may help with your Research Project, and subsequent electives that you take.
- Fourth, notice that this leaves you with a total of 4 units to fill up with econometrics/economics electives.
Step 2: The Econometrics unit(s)
Now we need to fill up the electives, but we enforce one more aspect -- you must finish Honours with at least ETC3410 Applied Econometrics completed. Now, we need to determine how this works for you by your background -- some of you will have already done ETC3410 (or equivalent), but all will have done the pre-req (ETC2410, or equivalent) ... so in each case we need to figure out what you should take as (at least the first of) your 'econometrics' unit in your Honours year. You most likely spoke with Choon or Simon about this during application.
Note, there is no reason why you can't take two econometrics units in your honours year. I'll get to that below.
Equivalence: for Monash B Bus (Caulfield) students, I consider:
- 'ETF2100' (70%+) or 'ETF3200' (70%++) can be considered equivalent to 'ETC2410 Introductory Econometrics'
Equivalence: for U Melb students, I consider:
'316214/ECOM20001 Introductory Econometrics' or 'ECON30001 Basic Econometrics' or 'MAST20005 Statistics' or 'Quantitative Methods 2' (also offered in Summer) as equivalent^ to our 'ETC2410 Introductory Econometrics'; and
- 'ECOM30002 Econometrics' as equivalent to our 'ETC3410 Applied Econometrics' (You may still enroll in ETC3410 if you obtained less than 70 in ECOM30002),
... so read the below accordingly.
- ^ note: in each of these cases, you will most likely need to do some extra pre-reading/preparation for ETC3410.
Equivalence: for U Adelaide students, I consider:
- 'ECON3502 - Econometrics III' as equivalent to 'ETC2410 Introductory Econometrics' (You may still enroll in ETC3410 if you obtained less than 70 in ECON3502).
Equivalence: for U Tas students, I consider:
- 'BEA242 Econometrics' as equivalent to 'ETC2410 Intro Econometrics'
- 'BEA342 Econometrics' as equivalent to 'ETC3410 Applied Econometrics'
Case 1: You haven't already done ETC3410 (or equiv.)
- You have already taken ETC2410 Introductory Econometrics (or equiv.), but you haven't done ETC3410 (or equiv.) yet, and so you are ready to undertake this in your Honours year.
You should put ETC3410 down in the Semester 1 elective slot. ETC3410 is especially useful if you intend to do an empirical micro research project.
The only variation to this is if, for some compelling reason (see 'Non Econ Electives' below) wish to take a 4th year elective from elsewhere in the BusEco Faculty, or some other faculty of the University, and this special elective lands in Semester 1 .. You will need special sign-off on this non-Econ/EBS elective, but if this goes ahead, then obviously, you will take your ETC3410 unit in Semester 2. In this case, you'd do ETC3410 in Semester 2.
- Or, you really really wish to do ECC4700 Competition, Regulation and Policy, which is offered in Semester 1 only (e.g. you seek employment with the ACCC...). In this case, you'd do ETC3410 in Semester 2.
- Note: if you wish to take a second ETC elective in Semester 2, then almost all of them require you complete ETC3410 as a pre-requisite, so you must get it down in Semester 1 (if you haven't already done it prior to Honours).
Case 2: You have already completed ETC3410 (or equiv.)
- In this case, you have a little extra freedom. You can use the Semester 1 'slot' for a higher econometrics unit, or you could do ECC4700. It is up to you. (You need not do an additional ETC unit for the sake of it.)
Information on ETC (Econometrics & Business Stats, EBS) is in the Monash handbook, but we recommend you check out:
- In Semester 1, we recommend you consider:
- In Semester 2, we recommend you consider:
ETC3250 Business Analytics (Souhaib Ben Taieb) (the 'big data' unit)
Step 3: Semester 2 Electives
Now, with your remaining units, you need to choose from the electives listed in the figure for Semester 2. Unit descriptions of these are given here (ECC4xxx) for convenience:
Other Considerations
A: I can't decide between two (or three) electives?
That's OK, it is really common. My advice is as follows: put down the one that you are most interested in, or if there are equally interesting electives then just pick one randomly. We'll put this down on your enrollment for now. But then, attend both (or three) of the potential electives you had in mind during the first week or two of the relevant semester. If you want to change your mind, then it is a simple case of letting me know and we can fill out a change of enrollment form within the first couple of weeks of the semester. No drama.
B: Are my decisions totally binding?
No. We realise that you are acting on limited information at this point. As you progress in the year, meet your peers and faculty members, read stuff, think, drink coffee etc. you will develop your preferences, interests and passions. In short, you'll be better informed later. As such, if you want to change one of your elective choices, then let me know and we fill out a change of enrollment form. That's fine. However, this change must take place within the first two weeks of the semester, otherwise, yes, you will be locked in to the unit. (It has to do with university policy, 'census dates' and fees etc.)
C: Non Econ Electives
I am willing to allow you to do one (or at the extreme two -- but this is very uncommon) elective at the 4th year (preferable) or 3rd year level (maybe) from other departments within the Faculty of Business and Economics, or in fact, any Faculty of the university.
Why might you do this?
- Because your research topic has a particular skilling or cross-department/faculty angle that a unit from elsewhere would really help you with. For example, a student in 2011 took a FIT (information technology) third year unit on Artificial Computation since their research project included building an artificial (computer-software) based economy.
- Because you have a language interest that you would like to strengthen in a related way in your Honours year. For example, in 2011, a student who had excellent Chinese studies under their belt, took a 3rd year Business Chinese unit which we felt would help him to build his profile as an international agency-ready economist.
What should I worry about? You need to be careful of how a potential employer or grad program might view your Honours transcript. If you have a few 3rd year units, they might think, 'so was this Honours (4th year)? or some kind of extra 3rd year?!' To guard against this, you need to ensure that if you go down the path of a non-department/faculty unit, you have a good reason for it that is pretty obvious from your transcript, or 'makes sense' to whomever will be reading your track record.
In any case, please communicate to me your thinking in the text box indicated below and we can discuss over email or in person.
Step 4: Tell me what you decide
I've set up a simple Google Form below that you can use to communicate your decisions.
Please use the comment box to let me know a bit of your thinking etc. if you have something in your selections that varies from the 'norm'. For example, if you are not doing ETC3410 in S1, you'll need to remind me why you've already got your Applied Econometrics equivalence figured (helps me check my information); or if you are taking some esoteric philosophy unit as an elective, please let me know how that came about and why. You get the picture.
Questions?
If you want to know some more about one of the units on offer, then please ask me. I can probably help. If you want the closest/best advice, then email the unit coordinator as listed in the handbook they will be able to give the best information on what they will be teaching.
... Happy selections!!