Economics» open the printable major» search for more Areas of Study
The Economics major within the Bachelor of Business equips students with an understanding of how our economy is by and responds to government spending, rate changes, and international markets. Studied will be the intricacies of both macro and microeconomics, and electives may be chosen that cover the economics of wealth creation, global trade and finance, and environmental economics.
Graduates are valued for their written and verbal communication proficiency, group-oriented work ethic, and comprehension of the motivations behind economic decisions. This knowledge is highly valued in the financial services industry but also in government, where economists advise on policy and financial issues.
The Business Project elective is available to Bachelor of Commerce students which involves working on a real world organisational issue with a local business.
For more information about Economics, visit the Newcastle School of Business site.
Some jobs require additional qualifications at Honours level. Honours is a one year stand-alone program, completed after successfully fulfilling the requirements of the undergraduate degree. View Bachelor of Business (Honours).
Some occupations require a higher level of completed study than an undergraduate degree, and for this reason it is worthwhile considering the range of post-graduate study options available. Postgraduate study may also be useful for specialising in a particular area, or to stimulate career change. Some of the postgraduate study options following the Bachelor of Business include:
Postgraduate coursework programs can add further specialisations in areas including business, safety, quality assurance and teaching. To explore such options please visit the Postgraduate Handbook at http://www.newcastle.edu.au/program/postgraduate/
The sample job list below shows the typical job opportunities for graduates of the Bachelor of Commerce, majoring in Economics. The entrance requirements for some jobs may require the addition of further study or be dependant on level of experience.
Not everyone uses their degree in the same way and the transferable skills gained through university study may allow graduates to pursue a range of careers that might not be directly linked to their study. Below is a sample list of job titles that might be suitable for someone with the skills gained during the Bachelor of Commerce, majoring in Economics.
Getting the Edge
Most employers seek to recruit people who have relevant work experience and an appreciation for their industry. Here is a check list of ideas about gaining experience and industry knowledge.
- Check the type of experience most employers in your field of interest expect. Don’t overlook the part time work you may be currently doing. Most employers understand that the skills are transferrable even if the work is not in their industry.
- Check your academic program for any courses that involve a placement or the opportunity to undertake an industry based project.
- Check your school for Summer Scholarships for research opportunities.
- Check vacancy sites for advertised traineeships, part time employment and vacation work opportunities in your field.
- Source and approach organisations directly about possible work shadowing or information interview opportunities.
- Source and approach organisations directly for paid work opportunities.
- Consider volunteering.
Note: Gaining experience may be important but not at the expense of your studies. Make sure you do not overload your timetable with unrealistic work commitments.
Economics employment opportunities exist in a wide variety of industries within small, medium and large organisations. Below is an example of some major organisations which formally target graduates with qualifications in Marketing. Check employers’ websites for a section called Employment, Careers, Graduate Programs or similar titles. Some of these employers may offer vacation work opportunities.
- ACT Department of Treasury (Australia)
- Alstom (International)
- AMP (Australia)
- ANZ (Australia)
- Attorney Generals Department (Australia)
- Australian Bureau of Statistics (Australia)
- Australian National Audit Office (Australia)
- Australian Prudential Regulation Authority (Australia)
- Australian Securities and Investments Commission (Australia)
- Australian Taxation Office (Australia)
- Barclays Capital (International)
Some large organisations have specific graduate recruitment programs designed to employ the pick of graduates each year. You must be in your final year of study or recently completed to apply for these programs. The timing of these recruitment drives varies and may occur at any point in the academic year, in some cases starting as early as the first few weeks of the first semester or trimester.
Find out if employers in your area/s of interest have graduate programs, when they typically recruit and what recruitment methods they use. Check with the Careers Service .
Job Prospects and Salary
For up-to-date information please see Job Outlook Australia. This site provides basic Australian labour market information including job prospects, skills requirements and salaries. You might try some of the classifications below as a guide on this site.
Societies and Associations
Associations and societies often provide relevant and up to date information about a variety of issues relating to specific industry sectors. These can be a good starting point to learn more about occupations through profiles, industry news, links to academic journals and information on research developments. Many also offer student membership, conference and professional development activities, newsletters and the opportunity to participate in projects.
Below are links to a variety of Economic related societies and associations that you might find interesting:
Don’t overlook student societies and associations. As well as student chapters of professional associations, some faculties or schools have discipline based student associations. Check your school or faculty web site; perhaps you might start one if one doesn’t exist.
Some academic disciplines run Seminar Programs that involve regular seminars presented by University of Newcastle academics, visiting academics and postgraduate students. Check your schools website for the timetable.
Job Search Sites
Searching job sites is a good way to gain an understanding of: industries recruiting professionals in this field; types of roles and the requirements or expectations of employers for these roles. There are many online job search sites, here are a few to start with:
Australian and International
- CareerHub: the University of Newcastle Careers Service careers and job search site for enrolled students and graduates.
- CareerOne: Australia wide job listings, all levels and industries including executive positions
- MyCareer: Australian and international listings
- Seek: comprehensive Australian job listings, also includes New Zealand and UK listings
- The Big Chair: Management and Executive Jobs
Graduate Attributes and Employability
Graduate attributes for the Bachelor of Commerce are the skills, abilities and knowledge that are highly sought after by a broad range of employers. Below is the complete list of attributes that graduates will have demonstrated upon the completion of the degree.
Graduates of the Bachelor of Commerce will:
- Communicate effectively, both orally and in writing.
- Work effectively independently and in teams.
- Engage in critical thinking and analytical problem-solving.
- Demonstrate knowledge of theory, models and concepts relevant to Accounting, Finance or Economics and be proficient in their application.
- Display proficiency in the utilization of information and technology in business.
- Apply business skills that incorporate understanding of global and ethical issues.
You will recognise these attributes in the selection criteria listed in the following job ads.
Sample Job Ads & Tips
Job ads provide useful information about the job and the required skills, experience and qualifications. Information like this is useful in career planning. Below is a small sample of job ads with tips on planning and job applications; explore further to gather more useful information for your planning.
Please note: the job ads listed on this page are not current and were sourced from a variety of websites in 2010.