I'm short listed too!
Congrats! Being short listed means we still have a chance of getting a scholarship, depending on our UAI. Technically, the cut-off for the University of Sydney scholarship is a UAI of 95 [there are 150 of these across the uni not just in the Faculty of Eco+Bus, worth $5000 a year for up to 5 yrs], but considering specific mention is made of having a 'highly competitive' UAI I think that they will rank those who are short listed in order of UAI and give the scholarships to the top however many. There are also faculty scholarships but some of them have other conditions attached i.e. being from a state school, higher than 99.5 etc. Being short listed prob means that you have satisfied the leadership, personal achievements etc and so now it just depends on UAI.
When I was reading through the scholarship book ages ago, I noted that most of the students interviewed did combined law - not all of course, but why would someone with a UAI of 95 get the scholarship when a person with almost equal achievements gets a UAI of 99.xx? It prob also depends on the faculty, but with eco+bus attracting a lot of students, we are going to have to get a very high UAI to get the scholarship.
Sorry for the long answer lol. I was so excited to be short listed I had to go and look up what I was actually short listed for again. Good luck!