Firstly, a big welcome and congratulations on joining UNSW!
First year is an exciting time and no doubt you all are very keen to explore what university has to offer you. We were both first years many years ago in your positionand were both so overwhelmed by all the sights and sounds of O-Week and all these opportunities available to me - Why are there so many societies and what are they even? Where are my classes for first week? OMG will I even have any friends to sit with?
The best thing about university is finding a group of likeminded people to guide you throughout your university journey - to be yourself and to help you grow no matter what. Undoubtedly, Ecosoc has been that group for us, and we hope it will be for you as well
This First Year Course Guide is intended to answer any burning questions you may have on how to study Economics, what courses to take and what a future career in Economics may look like. And even if you have any questions this guide didn’t answer, Ecosoc is always free to help – Just message our friendly FB profile!
But for the best Ecosoc experience, we highly recommend joining our society as a subcommittee member. You’ll gain insight into how societies work, meet lifelong friends and generally just have a great time with all our social events We also grew so much both professionally and personally with the society and hope that we can also help you along with this professional and personal journey We’re really excited for you to join Ecosoc or just to attend any events we organise.
If you ever catch us around on camp
See you around!
Lily & Kevin
Kevin Liao, Lily Zhang Co-Presidents UNSW Economics Society 2022
There are many different ways to study economics at UNSW Most commonly, students study a Bachelor of Economics, although you can still undertake a sequence in economics through a Bachelor of Commerce or Bachelor of Arts, and their associated double degrees.
The insights attained through studying economics can be applied to many different professional careers. You will gain skills in quantitative and qualitative skills that are not only limited to traditional economist roles, but are highly valued in many other industries where human challenges and issues are addressed.
UNSW Economics graduates are highly sought after and can be found at places like the RBA, Big 4 consulting firms, and the major banks Career pathways include, but are not limited to: Economist, Data Analyst, Policy Analyst, Economics Consultant, Financial Advisory, and Trading
The Bachelor of Economics program allows students to gain a solid foundation in economics, whilst also giving plenty of opportunity to choose various courses of their interest or deepen their focus in an optional economics major of their choice.
The BEc includes:
Introductory Business courses
Economics elective courses or optional Economics major Business electives or the option to pursue a Commerce major or minor General education courses from other faculties
Want to broaden the scope of your study? BEc students have the option of undertaking a secondary commerce major in fields such as Accounting, Finance or Marketing, and can even do a minor from the Arts or Mathematics faculties.
UNSW’s Bachelor of Commerce program offers students the flexibility to choose from many traditional and emerging business oriented areas of study such as Accounting, Marketing, and Business Analytics. BCom students study a common integrated first year program, then begin to specialise in a certain major from the second year onwards.
As a commerce student, you can study a sequence in economics in the Business Economics major This affords you the flexibility of choosing any economics courses that interest you, subject to certain rules. You can study a certain field of economics in depth by undertaking a series of courses that follow a certain theme (look at the economics majors for inspiration!) or pick a broad variety that suit your interests.
Can’t pick between the different majors? You can major in 2 different business disciplines in the BCom program In the BCom / BEc double degree, you can even do 3 business majors, including one in economics.
Complement your degree in the Arts and Social Sciences with cross-disciplinary study in the Business School by adding an Economics major to the Bachelor of Arts.
Single degree BA students are able to study economics as a second major, in addition to the required home major and minor If you are studying a Bachelor of Arts as part of a double degree, you may need to consult the Nucleus to see if you can add an economics major.
If you ’ re interested in economics and another field of study, why not combine both in a double degree? There are many available double degree options for both the Bachelor of Commerce and Bachelor of Economics programs. Note that doing more than one BCom or BEc major in a double degree may require careful planning, so consult the Nucleus to see if they can figure something out.
ECON1101 - Microeconomics 1
Offered Terms: 1 | 2 | 3 | Summer
ECON1101 provides student’s with the basic tools to “think like an economist” – that is, to be able to use basic economic principles to ask and answer questions about how the world works and the effect of policies. It covers topics such as how individuals or firms make decisions about the demand for or supply of a product, how we can determine the efficiency of a market, and how we evaluate the costs and benefits of trade or government intervention in a market.
Student Testimonials:
“I found ECON1101 to be an engaging and interesting course. The assessments were manageable and the course was well structured. I enjoyed learning about fundamental economic concepts in detail, such as how supply and demand are derived for an individual vs. a firm.”
ECON1102 - Macroeconomics 1
Offered Terms: 1 | 2 | Summer
ECON1102 provides an introduction to the economic analysis of key macroeconomic variables such as output, employment, inflation, interest rates and exchange rates The course will provide students with a framework for understanding the workings of the whole economy and the various interactions among households, business and governments
Student Testimonials:
“Overall, ECON1102 was great in terms of introducing us to the key macroeconomic concepts of growth, inflation and unemployment I liked how each week built up to form overarching economic models that linked all the different concepts together.”
Offered Terms: 1 | 2
ECON1203 introduces students to basic statistical concepts and methods that are widely used in economics, finance, accountancy, marketing and, more generally, business. Emphasis is placed on applying statistical methods to draw inferences from sample data as an aid to informed decision-making.
Student Testimonials:
“ECON1203 actually made me like statistics! The course is very useful and you have the opportunity to practice important skills like Excel and report writing. The first few lectures of ECON1203 are a review of HSC Mathematics content, so it is a gradual ease into new information.”
Offered Terms: 1 | 3 | Summer
ECON1202 course equips students with a working knowledge of the most common techniques, providing the basis for their further studies. Topics include the mathematics of finance, matrix algebra, linear programming, as well as calculus and (unconstrained and constrained) optimisation
Student Testimonials:
"It was quite a challenging course but rewarding. Revising high school math goes a long way ”
Offered Terms: 1 | 3
ECON1401 engages you with the founding ideas of economics and their relevance to the social usefulness of modern economic science. You will learn how modern-day problems are addressed in different subfields of modern economics, how these endeavours relate to the historical development of economics, and where the frontiers of economics as a discipline presently lie.
Student Testimonials:
"ECON1401 is a fascinating course! It is like a mix between HSC English, Economics and History. You will learn about classical economics perspectives and how the discipline came into existence The lectures are super engaging and the tutorials are a good opportunity for you to share your personal perspectives and opinions about economic issues Personally, I liked how this course focused on essay and reflective writing.”
The Bachelor of Economics contains core business and economics coursework, as well as the flexibility to undertake a variety of economics courses that suit your interests You may optionally undertake one of the following majors to streamline your studies into a specific field of your interest
If you ’ re not sure which one to pick - don’t fret! As outlined above, choosing a major is not compulsory in the Bachelor of Economics. In addition, taking the first year classes (and second year core) will help you inform your decision, and the degree itself affords the flexibility for you to experiment with different elective courses before deciding to undertake a major.
Not interested in any of the following, or don’t want to lock yourself into a specific course of study? You can simply enrol in business and economics electives to gain a wide breadth of experience in different topics. The possibilities are endless! Be sure to consult the handbook or the Nucleus when enrolling in such electives to ensure that you are fulfilling the degree’s requirements
Majoring in Data Analytics and Econometrics offers you the opportunity to study the methods used by economists for organising, modelling, and analysing large and complex data relevant to decisions made within businesses, governments and other organisations.
You will study courses such as:
The courses in this major provide you with the technical knowledge and skills to improve business decisions and inform policy-making You can also take electives that delve into emerging fields such as big data and artificial intelligence, and how they can be used in economic modelling
Possible careers paths include: Data analyst, Data scientist, Economic modelling
The Economic Policy and Society major is themed around economic theory and policy analysis, and allows students to craft a sequence of study to their own liking. It offers the flexibility to choose from both applied and theoretical aspects of economics.
You may study courses such as:
ECON2112 Game Theory and Business Strategy
ECON3101 Markets and Frictions
Possible careers are: Policy Advisor, Consulting, Economics Advisory
The Macroeconomics and Financial Markets major offers insight into how the economy behaves on a larger scale. The macroeconomics side delves into the function of an economy at the aggregate level, and how different factors affect its performance, while the financial markets side explores the theory behind financial interactions in an open-market economy.
You may study courses such as:
ECON3107 Economics of Finance
The courses in this major provide a solid footing in both applied economics and econometric methods, allowing for a greater understanding of economic principles and how they can be applied in the financial sector. You will also accumulate the technical skills to use economic theory to analyse real world data.
Possible careers are: financial analyst, government advisor, stock broker
Whilst the Behavioural Economics major is from the BCom degree, you can do it as your optional Economics major Behavioural economics is the subfield of economics that applies insights about human decision-making as it departs from classical economic models to individual choices and business and policy scenarios.
You will study courses such as:
ECON3124 Behavioural Economics
The courses in the major provide a foundation in behavioural and experimental economics, whilst also allowing for the flexibility to take various electives to suit your areas of interest. In doing so, you will develop the skills to understand, model, and predict choices in complex settings
If you are studying a Bachelor of Commerce, you must choose a major. This doesn’t have to be done in your first year - you can decide much later after having a taste of various courses. To major in Economics in the BCom program, you can do either a Business Economics major or the Behavioural Economics major outlined above.
This major affords you the flexibility of choosing any economics courses that interest you, subject to certain rules You can study a certain field of economics in depth by undertaking a series of courses that follow a certain theme (look at the economics majors for inspiration!) or pick a broad variety that suit your interests.
If you are looking for more guidance, feel free to check out EcoSoc's existing course guides at:
https://www.unswecosoc.com/academic-resources/academic-resourcescourse-guides-292/
https://www.student.unsw.edu.au/progression-plans
“Progression Plans (sometimes referred to as Sample Programs or Degree Templates) provide students with an example of how they should structure their degree.” - UNSW Current Students 2023
This guide includes sample progression plans for various combined economics degrees. You do not need to follow them exactly, but they provide a logical place to start to ensure that you are enrolled in the right courses Please refer to the UNSW Business School progression plans for your specific program. Please consult the Student Nucleus for further information/queries
Bachelor of Economics (Commencing in Term 1)
Bachelor
Note: If you are enrolled in a single BCom degree and plan to major in Business Economics, you should NOT be enrolled in any first year ECON classes.
Note: If you are in the BEc / BCom combined degree, some “Integrated First Year” BCom COMM courses must be swapped out for ECON courses Please consult the current handbook or consult the Nucleus to confirm you are enrolled in the correct set of courses.
Note: If you are in any of the science related programs, you are in most instances required to complete 2 first year MATH courses instead of ECON1202 and ECON1203. Generally these are MATH1131 + MATH1231 (or their higher level equivalents) For some science majors where only 1 first year MATH course is required, you must complete an appropriate second MATH course or its equivalent ECON course Please consult the handbook or the Nucleus to ensure that you are enrolling in the correct subjects.
I always found that my Commerce and Law degrees complemented each other nicely, so I was never doing too much maths, or writing too many essays! Studying your first university subjects can be a daunting experience, but it’s much less daunting when you collaborate with your peers! In the lead-up to final exams, I would recommend starting to revise at the end of Week 8. Get your notes up to date, then do some practice problems early to see what areas need work. Don’t be afraid to reach out to your tutors for help Many are very generous with their time if you can demonstrate that you ’ ve made a good attempt at the problem
Setting time aside to attend society events, PASS classes, mentoring, camps, and the like, is important so that you are well-connected within your cohort. I joined the Economics Society Publications Team in my Third Year of university and wish I’d joined sooner! If you ’ re doing a double degree I would advise you to join societies for both of your degrees Get involved Nurture your friendships That is how you will become exposed to different career paths, cultures, and even industry news. Joining EcoSoc allowed me to become more commercially aware, and to have interesting, topical conversations with like-minded peers.
Alexandra Witting Publications Director 2023
I initially didn’t have the best ATAR as I messed around in high-school a lot, and had no real direction. I ended up transferring to Economics from Arts (Political Science) and found Economics more interesting Pairing the degree with Finance, provided the opportunity to implement economic analysis into a number of the roles I work in outside the university
I genuinely implore you to join societies and put yourself out there through PASS classes and other uni events, both professionally and socially. The diverse group of people you will meet will be life-changing, whether they come from the Eastern Suburbs, Parramatta, Bankstown or the Hills Finally, my best advice is to stay “real” - I implore you not to be the person at events only looking for a job, however, find something you are passionate about and run for it Over the long term, this will open up more opportunities for you whether it be career-wise or in the form of mentorship. It’s easy to learn a lie, but it’s harder to sell passion.
Andrew Gutenev Publications Director 2023
I definitely had no idea what I was doing going into university - which is okay! Many people are also in the same boat as you (and lowkey I’m still stuck in the same boat). But make the most out of it - university is so much more than just lectures and assignments. You are surrounded by so many bright and clever students and the friendships and memories you make are what makes university so great and exciting Your peers are also there to help you - and you’ll do so much better by working together
I started off doing Commerce/Arts before transferring to Commerce/Law (and eventually majoring in Business Economics) It is never too late to try and study what you really want, even if you didn’t make it in the first place! As long as you are always learning, you will be okay And get involved in as many extra-curricular things as possible because you will learn so much more than what a lecture can ever teach you. You never know, maybe you will one day be the president of UNSW Economics Society!
Lily Zhang Co - President 2023
Heading into university as a first year was definitely exciting yet super daunting at the same time! Initially starting off in Psychology, I found myself more drawn to the business aspect before transferring into Commerce/Media. Despite the nerves, motivation and maybe anxiety that came with the experience of being a first year, rest assured that most of us have been in your very shoes! And before you know it, you'll have familiarised yourself around uni and settled into your new routine!
However, I think that outside of your degree, tutorials and lectures, there is a whole world out there for you to explore! There are so many opportunities available at UNSW, whether that is from societies or events and I can guarantee that you will be able to meet some amazing people along the way which will come to form the highlights of your time at university! So step out of your comfort zone, try something new and create some unforgettable memories!
Yutong Jin Creative Director 2023
Keep an eye out for upcoming EcoSoc events on our social media pages!
Weekly Study Session
If you need some motivation to study with friends or just to meet fellow Economics, come join!
Week 1
First Year Roadtrip
A fun weekend with First Years full of team-bonding activities led by experienced Ecosoc Members!
Week 2 Subcom Recruitment
Join the internal team and learn valuable tangible and intangible skills!
Week 3
Annual Career Fair
Meet industry representatives from different firms and learn what career path is right for you!
Week 8 Economics Panel
Learn from professionals and academics on how far you can take your Economics degree!
Term Break
Industry Mentoring Program
1 on 1 mentoring program with an industry mentor to learn how to network, career tips and job advice!
The UNSW Economics Society is the leading Economics student society in Australia. Our mission statement is to enrich the experience of students studying Economics, as well as introduce students to the passionate community and world of Economics.
We host initiatives to foster personal and professional growth in students by connecting them to industry representatives, informing them with relevant knowledge and upskilling through soft and technical-skill workshops, and creating a community of passionate students. Our flagship events include Annual Careers Fair, Industry Mentoring program, and Corporate Cocktails, which connect students with industry professionals. We also host fun social events each year, notably, last year we ran a First Year Road Trip, an Interfaculty Camp, an Interfaculty Cruise and our Interfaculty Ball
Name: Kevin Liao
Position: Co - President
Degree: Commerce/Law
Name: Lily Zhang
Position: Co - President
Degree: Commerce/Law
Name: Jack Yin
Position: Secretary
Degree: Commerce
Name: Trini Phu
Position: VP Events
Degree: Economics
Name: Mike Liang
Position: VP Marketing
Degree: Commerce/Computer Science
Name: Rebecca Du
Position: VP Internals
Degree: Economics/Law
Name: Indigo Arman
Position: VP Academics
Degree: Economics (Hons)
Name: Diamond Huynh
Position: VP Operations
Degree: Commerce/Infosys
Name: Madu Dhinakar
Position: VP Careers
Degree: Commerce/Law
Name: Elman Muhaimin
Position: Philantrophy Director
Degree: Commerce/Infosys
Name: Nelson Lu
Position: Philantrophy Director
Degree: Commerce/Engineering
Name: David Lee
Position: HR Director
Degree: Commerce/Information Systems
Name: Jason Chen
Position: HR Director
Degree: Commerce
Name: Emily Khou
Position: HR Director
Degree: Commerce/Actuarial
Name: Cole Wong
Position: Careers Director
Degree: Civil Engineering
Name: Cicy Zhou
Position: Careers Director
Degree: Economics/Computer Science
Name: Paul Park
Position: Careers Director
Degree: Economics/Arts
Name: Han Bao
Position: Sponsorship Director
Degree: Commerce/Advanced Science
Name: Sanjith De Silva
Position: Sponsorship Director
Degree: Economics
Name: Leilah Yousaf
Position: Academics Director
Degree: Economics/Arts
Name: George Kekatos
Position: Academics Director
Degree: Commerce/Economics
Name: Martin Tran
Position: Academics Director
Degree: Economics/Science
Name: Angela Wang
Position: Events Director
Degree: Science and Business
Name: Ivy Feng
Position: Events Director
Degree: Economics/Philosophy
Name: Albert Tan
Position: Events Director
Degree: Commerce/Actuarial
Name: Vanessa Sun
Position: Marketing Director
Degree: Commerce/Information Systems
Name: Derek Kim
Position: Marketing Director
Degree: Computer Science
Name: Jeremy Wang
Position: Creative Director
Degree: Commerce/Information Systems
Name: Yutong Jin
Position: Creative Director
Degree: Commerce/Media
Name: Andrew Gutenev
Position: Publications Director
Degree: Commerce/Economics
Name: Alexandra Witting
Position: Publications Director
Degree: Commerce/Law
Name: Anthony Sukkar
Position: Publications Director
Degree: Advanced Maths
Name: Alice Lobo
Position: IT Director
Degree: Economics/Computer Science
Name: Brendan Huynh
Position: IT Director
Degree: Commerce/Science
Ecosoc wishes you the best on your first year journey!
Credits to the internal team for this FYG!
Written by: Martin Tran, Leilah Yousaf, AlexandraWitting, Andrew Gutenev and Lily Zhang
Designed by: Vanessa Sun and Yutong Jin
Overseen by: Lily Zhang
Find us here @UNSWEcosoc
