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| ''Note: inquiries regarding Honours in Economics at Monash University should be directed to the Honours Coordinator: Choon Wang (liang.c.wang@monash.edu). This is a resource for students thinking of doing Honours in the Dept. of Economics. You should also look at the (more formal) [[http://www.monash.edu.au/pubs/handbooks/aos/economics/hons-bus-economics.html|Handbook page here]] for lots of actual details of the Honours year.'' | ''Note: This page now redirects to a number of updated resources for our Honours Program. Inquiries regarding Honours in Economics at Monash University should be directed to the Honours Coordinator: Choon Wang (liang.c.wang@monash.edu).'' |
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= Thinking of Doing Honours in Economics at Monash? = That's great! |
== Where to from here? == |
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| Hopefully, you'll find the resources on this page helpful for you. If you have any questions, please just email the Honours Coordinator (Choon Wang). | * [[https://goo.gl/forms/WCPwhJHFaYGtFlQj1|Please register your interest here (form)!]] |
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''Are you coming from a non-Monash under-grad institution?'' * A recent (2013) Monash Economics Honours Student who came to Monash from interstate to do honours said, ''"I thoroughly enjoyed the Honours year. Coming to Monash is one of the best decisions I've ever made!"'' |
* [[https://www.monash.edu/business/future-students/undergraduate-study-options/honours/faqs-for-honours-in-economics-applicants|FAQs about our economics honours program (admission requirements, application deadline and process, decision process, course structure, mathematics requirements, and timing)]] |
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''If you still need convincing, try reading here'' * [[http://www.theaustralian.news.com.au/story/0,25197,25236885-12332,00.html|Dismal Science Faces a Dilemma (''The Australian'', Wed March 25, 2009)]]: 'According to HSBC chief economist John Edwards: "Economics honours graduates are very employable but not enough of them are being turned out." ' |
* [[https://www.monash.edu/business/future-students/undergraduate-study-options/honours|General admission requirements for Bachelor of Commerce (honours)]] |
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||<<ImageLink(ImInterested.png,MonashU/HonoursEconomics/RegisterInterest,width=150px)>>||''If you'd like to register your interest in doing Honours at Economics and be on the mailing list for further information and application details, please fill out the form here!''.|| <<TableOfContents(1)>> = Why do Honours? = Honours is a special year that is well worth considering. Honours not only gives you a leg-up in applying for Economist jobs in the market-place, but also enables you to undertake further research study in a MPhil/PhD in the future. Infact, it is considered the standard launching place for beginning a successful academic career. {{{#!frame align=float:right <<ImageLink(WhyDoHonours.png,width=600px)>> }}} '''Do I need to be an 'academic-type' to do honours?''' 1. No -- there are (broadly speaking) two types of students who do honours -- those wishing to go onto a Graduate Program with a public or private firm and those wishing to undertake a PhD program (see diagram below). 2. Whilst honours has a research component to it, and this is a significant part of your study during the year, the skills you gain doing the research component are extremely helpful for both academic and non-academic work in the future. 3. To see what I mean, look below, where a spectrum of student type is represented, all who are suitable for the honours year. Those more to the ''left'' of the spectrum will likely want to go to a Graduate Program, they: * Prefer to be more directed by others in the work that they do; or * Enjoy project completion and working to tight deadlines; or * Like work that is closely related to current national policy, or problems in the private sector. Whilst those on the ''right'' of the spectrum will likely want to go into a PhD program, they: * Prefer to work on what interests them, generating their own projects; or * Enjoy sharing their passions with others, have patience, and get enjoyment from watching others grasp complex concepts; or * Are naturally ''curious'' about the world -- are often thinking, 'why does that happen?', or 'how does that work?'; or * Don't mind work to be a bit open ended and prefer to spend time to get things really understood rather than working to tight deadlines and perhaps having to compromise on the overall outcomes of the project. '''Do employers really care whether I've done Honours?''' 1. Yes. In a recent (2009) seminar where representatives from public and private Economics groups were represented, students were given the explicit advice that having Honours was a real advantage since it signaled to prospective employers that you have a very strong Economics background. Indeed, students heard that the Productivity Commission ''only'' employs students with an Honours qualification (or above). '''How does Honours differ to undergraduate study?''' 1. Honours units are ''taught at a higher level'', and so will give you a more advanced set of Economics tools; 2. Honours gives you the opportunity to undertake a ''12 credit point research project'' -- you will work with one of the Department's academics, and experience first-hand what academic research is like; 3. Honours requires you to communicate your research in written form, and in a presentation. This is an excellent opportunity to develop your communication skills, especially in technical areas. Such skills are highly sought after both in the workplace, and as preparatory experience for entry in to a [[MonashU/PhDEconomics|MPhil/PhD program]]. '''OK, suppose I want to do a PhD -- here or overseas and what should I do to prepare now?''' * This is a big question, that should be addressed by lots of consultation * Speak to the PhD Coordinator and see the [[MonashU/PhDEconomics|resource page for PhDs at Monash here]] * For o/s PhD study, here's a really helpful piece written by Dr Steph Miller on studying in the US to get your consultation/thinking started: * [[attachment:StudyingAPhDInTheUS.pdf|US PhDs .. what's to know? (PDF)]] = What do I need to have done to get into Honours? = see https://www.monash.edu/study/courses/find-a-course/2019/commerce-b3701#entry-requirements-2 = What does the Honours Year actually look like? = <<ImageLink(UnitSelection2014.png,width=600px)>> For more information, see the Hanbook page here: * http://www.monash.edu.au/pubs/handbooks/courses/0181.html (see 'Honours Specialisation') '''Can I take non-Economics Electives as part of my Honours year?''' * It depends. * We need to keep in mind two principles: 1. Your honours year units must be of a sufficiently high standard that a person reading your transcript (e.g. prospective employer, PhD program coordinator) doesn't think it looks in any way 'watered down'; 2. Sometimes, for a compelling reason to do with your research project and/or prospective employment, a non-Econ unit seems appropriate for you to take. * In which case, it is very rare, but yes, in consultation with the Honours Coordinator, you may get permission to undertake a non-Econ unit as one of your honours electives == Some Practicalities, or FAQ == '''When do I apply?''' * Suppose you want to do honours in year X, then in about October X-1, applications details will go up (via a link on this page) and generally open until end of November X-1. Marks from your S2 units in X-1, along with your other marks will be attached to your application by the Faculty Honours coordinator. Note that if you are studying at a non-Monash university, then you will need to attach your verified marks for everything you have at the time of submission, and the ones outstanding should be submitted as soon as you have them. * Example: I want to do honours in 2025. So I apply in the Oct-Nov 2024 round. * ''One more thing:'' The Honours coordinator maintains a 'prospective honours students X' list for each year, so it is a good idea to email him or her to indicate your interest, then you'll be in the loop when it comes to notifications about honours applications. '''Can I do Honours part-time?''' * Please speak about this with the Honours coordinator * Also, take note of the other options below for 'Honours-like' courses of study. '''Can I start Honours mid-year?''' * No. Sorry .. since we require students to take Macro and Micro in 1st session, it would be impractical to have students coming in in second session. * See the other options below for 'Honours-like' courses of study. '''Can I defer my honours?''' * No. Sorry - the faculty doesn't allow Honours deferals. * That just means that you need to apply afresh with the same papers (perhaps with an updated research proposal) prior to the year you want to sit Honours '''Do I really need to have a 70%+ average in the relevant units?''' * Yes. * The bar is there for a good reason -- the honours units are at a higher level and will require a certain aptitude for students to both be 'happy' doing them, and to obtain the marks that will give them a good outcome for their Honours year (e.g. Honours, Class 1). * If you enter with lower marks than our 70%+ bar, then it is likely that you will be disappointed * Hence, the average as it stands. * If you are uncertain, or think that you have enough good marks but perhaps not the golden average, then speak to the Honours Coordinator and discuss your situation. * As ever, the best policy for you is to do as well as you can at the all the relevant units. '''What if I have taken the pre-req. for my cohort (e.g. Introductory Econometrics), but I failed it? Do I need to resit it?''' * Yes. * You need to have a successful completion (pass) in the pre-req. like any normal pre-req. sequence. '''Are there Scholarships available for Honours?''' 1. Yes. * The Department of Economics offers several scholarships (values in the range of $5,000 to $15,000) to the best ranked entrants each year. The most prestigious one is the ''Ian Little Honours Scholarship'' valued at $15,000. All applicants are automatically considered for these scholarships. See information on the [[MonashU/HonoursEconomics/Apply|'Apply']] page. 2. For other scholarships (Faculty, Unversity etc.): * Check out the application process and available scholarships here: http://www.buseco.monash.edu.au/student/scholarships/honours.html * NB: ''Applications for most scholarships open 1 August and close 31 October of the year '''prior''' to your Honours year.'' * Also check the University Wide Scholarships offered here: http://www.adm.monash.edu/scholarships/applicants/honours-scholarships.html '''I'm a Berwick/Caulfield student, can I still get into Honours?''' * Perhaps. * You'll need to discuss your situation with the Honours coordinator. Send him an email. liang.c.wang@monash.edu '''I'm having trouble fitting in the required units, are there any options?''' * If you have completed 8 units at Monash, and have a credit (or better) average in your previous year, you can over-load * See the forms here: http://www.buseco.monash.edu.au/student/forms/requestoverload130110.pdf = Is Honours the only option I have? = [Updated! Sep 2015] No. There are a variety of paths that you could take with Bachelor's degree under your belt. Which option you choose is up to you, but as you'll see below, there are some differences like when you can start, how long the period of study is, and what pre-requisites you'll need to have done prior to being accepted into the program. If you've already already completed an UG Econ major: * .. and your WAM is 55+, then the [[http://monash.edu/pubs/handbooks/courses/3848.html|Graduate Diploma of Business]] is for you. * 1 year FT, Caulfield based, you finish with an 'Honours-like' qualification. * .. and your WAM is 60+, then the [[http://www.monash.edu.au/pubs/handbooks/courses/3842.html|Master of Business Economics]] is for you. * with credit for Intermediate Micro + Macro, plus Econometrics, you'll probably take a 1.5 year option here, and finish with an 'Honours-plus' qualification. * .. and your WAM is 70+, then you probably could do Honours! .. but an alternative, longer version, is the [[http://www.monash.edu.au/pubs/handbooks/courses/4427.html|Masters of Economics]] * with prior credit, 1.5 years FT, at Clayton, you'll do an 'Honours-plus-plus' qualification. If you haven't done an UG Econ major: * then you would be doing an additional semester to make up the Intermediate Micro + Macro, some econometrics, and some breadth Econ units, and doing a 2 year version of either the Master of Business [[http://monash.edu/study/coursefinder/course/3842/|Economics (Caulfield)]], or the [[http://www.monash.edu.au/pubs/handbooks/courses/4427.html|Master of Economics (Clayton)]] .. Be sure to speak to the relevant course directors of each of these options to find out more. |
Note: This page now redirects to a number of updated resources for our Honours Program. Inquiries regarding Honours in Economics at Monash University should be directed to the Honours Coordinator: Choon Wang (liang.c.wang@monash.edu).
Where to from here?
* Please register your interest here (form)!
* General admission requirements for Bachelor of Commerce (honours)
- CategoryMonashU