Doctor of Philosophy in the Department of Econometrics and Business
Management consultant with an Australian-owned specialist consulting
Grant Saligari actually started his life at university studying engineering,
but found that he was not that interested in the discipline. Retaining
an interest in mathematics, Grant looked for an opportunity to combine
this with an interest in economics and commerce and thus chose econometrics.
The company for which Grant works is involved mainly in the area of
manufacturing operations, covering such areas as forecasting, inventory
control and scheduling. "I was recruited to the company as a business analyst for which
the main requirement was good numerical and analytical skills. The content
of the Econometrics course provided a good basis for a curriculum vitae
with this emphasis.
My current position involves project management and product development.
As my projects involve the implementation of forecasting, inventory
control and scheduling systems they provide a direct application of
many aspects of econometrics. In my product development role I manage
the design and development of our forecasting and inventory control
In my experience numerical and analytical skills are highly sought
after in business."
Bachelor of Economics (Hons) - completed 1993
Quantitative Analyst, NatWest Markets, London
"It seems like a long time since I finished my Honours degree in Econometrics
at Monash in 1993. Since then I've spent 9 months in Group Treasury at
National Australia Bank and a year at the University of Cambridge doing
more study - this time a Masters in Finance, again including econometrics.
I am now in London working at NatWest Markets in Asset Securitisation.
The position at NAB came about after a couple of months of summer work
pre-Honours year which was organised through the Department of Econometrics
and Business Statistics. I worked in the Group Treasury R &
D team applying econometrics to treasury products.
I left there to further my studies, this time in Cambridge. I cannot
deny that the architecture is significantly prettier than Monash's 1960s
buildings. Nevertheless, despite being a long way from home it was pleasing
to discover that the Department of Econometrics and Business Statistics
at Monash was well known. Their reputation and research spreads as far
as Cambridge, where it is very well regarded by others in the field.
After Cambridge, the next logical move was down to ‘the City'
and I now work at NatWest Markets, the investment banking arm of a large
UK bank. I work in a team putting together securitisation deals. While
I am not involved in econometric work directly here, a large part of
my job involves negotiations with rating agencies, in which knowledge
of statistics is important. A numerate background and the understanding
of statistical methods not only helps on a CV when looking for a job
in banking, it proves useful throughout work."
Bachelor of Economics (Hons) - completed 1993
Research Analyst, SBC Warburg, Melbourne
Tom Wilson enjoyed studying economics, while his academic strength was
in mathematics. Econometrics provided the opportunity for him to combine
these two areas. Tom gained his position as Research Analyst in the stockbroking
industry after completing his Honours degree from the Department of Econometrics
and Business Statistics at Monash. Tom's position involves analysing and
evaluating companies as investments and recommending them (or not) to
investors on the basis of that analysis.
"The computing skills developed during my degree are invaluable
in my job. I use my knowledge of sampling and trend analysis in my job...
Econometrics taught me to think clearly and logically and to organise
In my job having an understanding of business statistics is vital.
Often numbers are presented in many situations (both) in and outside
work which some people accept at face value, without fully understanding
how they were generated. I find it is important to understand the strength
or weakness of certain statistical techniques, whether I am generating
numbers myself or reading other people's work."
Courses and Units
Courses in Econometrics/Business
In recognition of its integral role in a business career, all degrees
in the Faculty of Business and Economics include a compulsory Business
Students who wish to undertake further studies in Econometrics and
Business Statistics beyond this level can do so at any of the campuses,
with a full major being available at both Clayton and Caulfield.
Caulfield campus the Econometrics major, consisting of two or
more second year units and at least three third year units, can be
undertaken in the Bachelor Business (generic) and Bachelor of Business
(specialised tagged) degrees.
On the Clayton campus students can take up to six econometrics
units in both the second and third years of their degrees. The Econometrics
and Business Statistics major can be undertaken in both
the Bachelor of Commerce and the Bachelor of Economics.
represent by far the largest program of subjects in Business Statistics
and Econometrics in Australia.
Units available in Econometrics and Business Statistics
"In my experience numerical and analytical
skills are highly sought after in business."
Bachelor of Commerce or Bachelor of Economics (Clayton)
Business and Economic Statistics
Data Modelling and Computing
Mathematics for Economics and Business
Probability and Statistical Inference for Economics and Business
Applied Forecasting Methods for Business and Economics
Business Modelling Methods
Applied Business Modelling
Marketing Research Analysis
Principles of Econometrics
Time Series Analysis for Business and Economics
Modelling in Finance and Insurance
Survey Data Analysis
Fourth Year (Honours)
Applied Econometrics 2
Financial Econometrics 2
Quantitative Economic Policy
Optimization for Management
Special Topics in Econometrics
Bachelor of Business (Caulfield)
Business Data Modelling
Data Analysis in Business
Quantitative Methods For Risk Analysis
Mathematics For Business
Quantitative Business Analysis
Quantitative Methods for Financial Markets
Optimisation for Managers
Survey Data Analysis
Quantitative Models for Business Research
The well trained business statistician also has knowledge of accounting,
economics, finance, management, marketing and business law. The Bachelor of Commerce and the Bachelor of Economics are ideally structured to encourage this type of training.
The new double degree Bachelor of Commerce/Bachelor of Economics allows
joint majors in Business Statistics and either accounting and finance,
economics, or management. Such joint majors can give graduates a great
advantage in the job market.
Students enrolled in any of the
Bachelor of Business, Bachelor of Economics or Bachelor of Commerce
degrees taught at Monash have the flexibility to
change their major discipline after their first year of study. The
above degrees also provide freedom to pursue studies in other areas
- languages, computing, the social sciences, sciences, mathematics,
law, etc - either as part of these degrees or in double degrees.
Students who perform well in the first three years of their degree
are invited to do an honours year, further sharpening their quantitative
skills and enhancing their career opportunities.
"A numerate background and the understanding
of statistical methods not only helps on a CV when looking for a
job in banking, it proves useful throughout work."