gnrlies
Member
- Joined
- May 12, 2003
- Messages
- 781
- Gender
- Male
- HSC
- 2003
I think that whilst the HSC course is a reasonable enough course for someone who will never study economics ever again, it is not a good introduction for someone who would be looking to study it at university. The HSC course contains zero microeconomics which is unfortunate. Subsequently many students may find the microeconomic courses quite challenging as there is a significant mathematical component to microeconomics.BackCountrySnow said:
First year microeconomics is mainly focussed on market structures, cost curves and other basic economic questions. This stuff may seem difficult upon first glance, but it is not so hard once it has been looked at appropriately. Intermediate microeconomics is primarily about the decision making processes of economic agents. Primarly to do with maximising utility given a budget constraint, and then considering different alternatives. There is some calculus involved and it is a bit harder than first year economics, but so long as you can conceptualise and understand the mathematics (i.e. know why it is the equation is constructed the way it is) the rest follows.
When you go into third year you don't do an equivalent "advanced microeconomics" but you will do a subject called industrial organisation. This applies a broader approach incorporating a number of different approaches to solve real world problems. It is not about applying a mathematical model, or using a diagram to explain the way the world works, it is about looking at cause and effect, and incentives. It has a particular focus on contract making and although it is often the most challenging unit in terms of obtaining a high mark, it is often more enjoyable because it takes a step back from the mathematical approach taken in previous years.
the HSC course will help in Macroeconomics up until the IS-LM curve. Beyond that it will not be particularly helpfull. Some of the more basic Keynesian theory will also be explored to an extent well beyond HSC economics. Macroeconomics by nature is a lot harder to teach than microeconomics because a narrow focus is hard to take. Subsequently you will learn about many different topics and theories but specialise in none. This can be annoying from an intellectual stand point, but then again it allows you to taste everything so you know where your interests lie. Intermediate macroeconomics is probably not too dis-similar to first year apart from the fact that concepts are explored in more depth.
Again in third year you will do a subject that takes a step back from the theory and looks at the practical applications of macroeconomic policy. Here you will learn many different approaches to macroeconomic policy, and examine what happens in the real world. For this reason it is by far the most interesting of the macroeconomic based subjects.
But just to make something clear. Doing economics at uni is mainly about doing crappy subjects to give you a grounding in economics, but more importantly to teach you the practical skills that an economist needs, and how to think like an economist. You dont sit there and work out using calculus the point of tangency between a uility curve and a budget constraint because it is a particularly meaningful thing to do; you do this because it will shape the way you go about solving problems.
