University: The University of Western Australia

Degree: Bachelor of Commerce, Economics

School Subjects: Economics, Mathematics Specialist, Mathematics Methods, Literature, Chemistry, Physics

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Having done Economics ATAR and enjoyed maths throughout school, I naturally leaned towards a degree in Commerce majoring in Economics. That being said, doing Economics ATAR is definitely not necessary to do Economics in university; it just means your first year may be more difficult than others as you’ll be exposed to new content.

Content

An aspect of studying Economics that I particularly enjoy is how it teaches you to think strategically about your resources. I especially liked it when the theory learnt is supported by real-life case studies, as I believe it made studying the content more interesting and engaging. Although I do enjoy learning Economics, a point to note is that the content is largely theoretical and is not directly applicable to any line of work outside of professional economics. This is because the Economics major just informs you about general understanding and provides insight into everyday decision-making, whereas other degrees like Engineering or Medicine are more directly applicable.

A typical week studying Economics would look very similar to other Commerce majors. You’ll have lectures for your core units and tutorials to discuss lecture topics and set questions. There is a wide assessment variety in Economics, as you’ll get a mix of tutorial quizzes, assignments, mid-semester tests, and final exams. However, you may also get a group project, which can be hit or miss for some people, as sometimes you won’t have control over picking your group members.

Who Would I Recommend Economics to

An aspect of Economics I don’t see discussed as much as it should be is the mathematical side of it. The maths involved in this major is no harder than the maths discussed in level one units from the Mathematics major (i.e. Multivariable Calculus – MATH1011 and Mathematical Theory and Methods – MATH1012). Examples of some maths calculations you’ll have to do include partial differentiation and finding eigenvalues. If you don’t major in Mathematics, don’t sweat it, as you’ll learn how to do the maths as part of your learning—it is not presupposed knowledge. Because of the use of maths (and the content learnt in general), the consensus is that Economics is one of the harder Commerce majors, but it is not as hard as other majors (e.g. Physics or Maths).

If you continue on with a Master of Economics, you can expect higher-level maths to be introduced. As such, I would recommend Economics to people who enjoy a quantitative approach to business and strategic decision-making. If you want to work in some role in Commerce but dislike maths, then I wouldn’t recommend this major to you.

Importance of Work Experience

In university, building a professional network and increasing your work experience is more important than achieving perfect grades. Keeping on the lookout for internships is key to landing highly sought-after graduate roles. I recommend starting off with UWA-sourced work experiences through McCusker and Work Integrated Learning to get your foot in the door and then branching out from there. With an Economics major, you can look for other internships that are finance-related (e.g. investment banking) or public servant roles (e.g. Treasury, Department of Foreign Affairs and Trade).