How to choose the right Economics degree for you

29 Jul 2020 | 4 MINS

Article edited on 8 March, 2021.

Economics is a practical career that is relevant to many aspects of daily life. Study in this area could take you into many fields, including finance managing, consultancy, financial broking, investment advising and more.

So you enjoyed economics in high school or think it could pair well with another subject you want to study at uni – now what? Find out more about the options you could take. 

Option 1: Economics single major in any undergraduate degree

If you wish to study economics but also want  diversify your skills and knowledge across other areas, then the single Economics major is probably best for you. The single Economics major can be taken as your first major within the Bachelor of Commerce or Bachelor of Philosophy (Honours), or as a second major in our other bachelor’s degrees.

For example, you could enrol in a Bachelor of Commerce and major in Economics and Business Law, or start a Bachelor of Science and major in Mathematics and Statistics, and have Economics as your second major.

Some other combinations you could look at include:

Taking a second major ensures you have the breadth of knowledge and skills that employers look for when hiring for graduate positions. Combining areas of specialisation from different bachelor’s degrees also means you’ll gain the same level of qualification and transdisciplinary skills found in a double degree (Australian Qualifications Framework 2020).

Option 2: Bachelor of Economics and Master of Economics (combined)

Many students who choose careers in economics work as economists, for example, in commercial banks, State and Federal Treasury, the RBA, and in Economic Consultancy or Investment management and large companies. If you wish to specialise in economics, we have a couple of options for you.

If you enrol in the combined Bachelor of Economics/Master of Economics, then you can potentially do either of the following:

  • Complete the requirements for the Bachelor of Economics, and graduate after your third year of study with a Bachelor of Economics.
  • Complete the requirements for the Bachelor of Economics as above, and then continue on to complete a Master of Economics in your fourth year. This means you will be able to receive two degrees in four years under this combined degree accelerated pathway.

Option 3: Bachelor of Philosophy, Politics and Economics

Are you driven by a strong set of values and are keen to make a difference in the world? All important social issues have philosophical, political and economic dimensions, from climate change, health care and inequality, to political participation, criminal justice and much more.

The new Bachelor of Philosophy, Politics and Economics is a rigorous course of study which equips you to engage with these issues from a uniquely interdisciplinary perspective. It requires an ATAR of 90 and features the extended major of Philosophy, Politics and Economics, leading to potential careers in diplomacy, journalism and policy analysis.

UWA is the only university in Western Australia to offer this course, where you’ll study all three disciplines with leading experts in their respective fields.

Careers in Economics

Employment prospects for economists are strong, and graduates can pursue careers as specialist economists in government and business, or as economic consultants, economic analysts and policy advisers.

Since Economics has a strong Honours and Master's pathway for students, our graduates are highly regarded and frequently hired by prominent employers in Australia. These include the Australian and State Treasuries, the Productivity Commission, as well as in economic consultancies and major companies. We have a particularly strong record over a number of years in placing our Honours graduates with the Reserve Bank of Australia.

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