ECONOMICS UWA ECONOMICS HONOURS by …...3. Dissertation Topics and Supervisors The topic for the...

ECONOMICS

UWA ECONOMICS HONOURS

by

Kenneth W Clements

Business School University of Western Australia

DISCUSSION PAPER 12.09

March 2012

UWA ECONOMICS HONOURS

by

Kenneth W Clements* Business School

The University of Western Australia

1. Introduction

The UWA Economics Honours degree has produced a stream of outstanding

students, has a history spanning more than half a century, enjoys considerable prestige and is

highly valued by the community and the University. As the degree is a flagship program of

the Business School, this paper records some of the history of the degree over the past three

decades.

Economics has been taught at UWA almost since the University’s inception in 1912,

when it was part of the Faculty of Arts, and Edward Shann was the Foundation Professor of

History and Economics. Economics became the Faculty of Economics in 1954, and then part

of the Faculty of Economics and Commerce in 1961. For some details of this early history,

see Alexander (1963), Lourens (1988) and Treloar (1988). In 2007, there was a major

reorganisation, with the Faculty of Economics and Commerce becoming the Business School

with about 100 academic staff.

The history of UWA Economics has been the subject of three recent papers by

distinguished UWA graduates: Appleyard (2010), McLure (2011) and Petridis (2011). While

these papers deal with issues broader than Economics Honours, they still at least touch on the

topic. Petridis (2011) mentions several prominent economics students from the 1940s and

50s. These include Reginald Appleyard (later to become Professor of Economic History at

UWA), Keith Frearson (influential academic in Economics at Monash), Robert Hawke

(Prime Minister of Australia), Austin Holmes (leading central banker at the Reserve Bank of

Australia), John Neville (Professor of Economics at UNSW), Maxwell Newton (financial

journalist and newspaper publisher) and Wilfred Salter (path-breaking researcher on

* Kenneth Clements is a Winthrop Professor of Economics and BHP Billiton Research Fellow. In preparing this paper, I have benefitted from the research assistance of Tijana Mirkovic, Tom Simpson and Caitlyn Thomas, as well as the helpful input from Mei-Hsiu Chen, Rebecca Doran-Wu, Izan, Paul Lloyd, Paul McLeod, Michael McLure, Rod Tyers, Terry Walter and other staff members of the UWA Economics Group. I gratefully acknowledge the cooperation of the honours graduates who contributed letters to this project. This work was financially supported by the UWA Business School.

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productivity who died at a young age; see Weber, 2011, for some details). In his history

dealing with the 30 years up to the early 1990s, McLure (2011) notes the successes of

Economics students, and points to two leading examples: Colin Barnett, the current Premier

of WA, and Tracey Horton, who has just completed a highly successful 6-year term as Dean

of the UWA Business School. Appleyard (2010) adds to this already impressive list the

names of H. C. Coombs, who was to become the first Governor of the Reserve Bank of

Australia, John Stone (Secretary of Federal Treasury) and Arthur Tange (Secretary to the

Commonwealth Department of External Affairs), among others.

The UWA Economics Honours model is as follows: after their third year, students

with a strong academic record are invited to undertake honours, which entails another year of

studies. In recent times, on average, the honours class comprises about 15 students, who take

high-level units in macro and microeconomic theory, as well as optional units including

econometrics, economic development, history of thought, international finance, international

trade and public finance. Importantly, they also write a 15,000-word dissertation that absorbs

one-half of the overall year’s work. The dissertation is substantial and it represents a

tremendous learning experience for most students as it is the first time they have the

opportunity to carry out original research. In addition to researching a specific topic, writing

the dissertation provides valuable generic skills: the organisation of a large-scale project, the

development of writing and time-management skills, as well as gaining experience in

defining a researchable question.

The paper provides information on past honours students, their dissertations and

some details of what they are doing now. The paper also contains a set of letters from former

students; these letters contain unique personal perspectives of the graduates on the value of

honours and how it contributed to their subsequent careers. The data used in the paper have

been compiled from internal records of the Economics Group, as well as from official

University sources. While I have endeavoured to collect data that are as accurate as possible,

I am aware that the quality of the data is still less than perfect and the coverage is incomplete

(especially for the period before 1980). I apologise in advance to anyone who has been

inadvertently omitted from the tables that follow and would appreciate receiving any

additions and/or corrections.

2. The Students and Prizes

For the period 1980-2010, there were 443 Economics Honours students and

Appendix A1 lists their names and, in the vast majority of cases, the titles of their

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dissertations. Figure 2 shows that enrollments fluctuate considerably from year to year and

most recently, the number enrolled is close to the long-term average of about 15 students.

Thus, the program is not large, but quality is more important than quantity.1

Christopher Vargovic, a student from 1955, left a generous bequest to the University

to support research students in Economics.2 As shown in Appendix A1, over the last 10 years

Vargovic Memorial Bursaries have been awarded to more than 70 students, the majority of

whom were undertaking honours. Additionally, the WA Branch of the Economic Society of

Australia awards prizes each year for the top honours student and another for the best

honours dissertation in WA. The UWA winners of these prizes are also listed in Appendix

A1.

3. Dissertation Topics and Supervisors

The topic for the honours dissertation is decided by the student in consultation with

staff. The titles of the 400+ dissertations written over the last 30 years are given in Appendix

A1. These are classified into broad areas in Figures 3 and 4. As can be seen from Figure 3,

macro and monetary economics is by far the most popular area, followed by international and

labour economics. The areas vary quite substantially on a decade-by-decade basis, and Figure

4 reveals a decline in labour and offsetting rises in other topics. But other than this, there does

not seem to be any easily identifiable patterns.3

In some cases, dissertations lead to publications in journals and elsewhere; see Table

1 for details. In most cases, supervisors have a substantial influence on the final dissertation,

so it is appropriate to record the supervisor’s names. Appendix A1 gives the details of

supervisors, while Figure 5 provides a summary picture in the form of the number of

dissertations supervised. As can be seen, over the three decades, Clements, McLeod, Weber,

Miller and Groenewold have been particularly active supervisors.

1 For the period 1925-79, for which the records are much less complete, 149 Economics Honours students have been identified; for details, see Appendix A1. 2 Alec Kerr, Vargovic’s mentor at UWA, has told me that Vargovic was very fond of the University that he felt had helped establish him in Australia after arriving penniless following his escape from Yugoslavia after World War II. This gratitude is also reflected in the acknowledgements in his book (Vargovic, 1956) where he writes: “Without the financial assistance of the Research Fund of the University this study would have been impossible. I desire, therefore, to acknowledge the opportunity created in this way.” 3 The changes in the distribution of areas are statistically significant. See Appendix A2 for details.

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4. What the Graduates Say

In an effort to obtain views from former students on the value of Economics Honours,

I made email contact with as many of them as possible. I invited them to provide information

on what they are doing now, reflect on their time at UWA and how it helped them in their

subsequent careers. I received 22 emails/letters in response and these are contained in

Appendix A2. This section provides an overview of that material.

Three related themes can be identified from the letters from the former students: (i)

the benefits of honours; (ii) how their studies helped their careers; and (iii) the usefulness of

studying economics. In what follows, I quote from the letters.4

Benefits of Honours

The graduates perceive considerable benefits from taking Honours, as is illustrated by

the following quotations:

A definite advantage of the UWA program was the small class size. As well as allowing for greater contact between students and lecturers, I would also say that the small class size also meant that students were able to spend more time with their dissertation supervisor. I remember having weekly meetings with my supervisor, Michael McLure, who offered excellent guidance and support (and never got upset when I turned up for a meeting without having touched my dissertation all week).

Louise Carter [2004]

…my training at UWA provided strong foundations in critical thinking and conceptualisation skills. Further, being an international student in Perth for a number of years had extensively enriched my people skills as well as positive attitude in life.

Bernard Gan [1994]

Studying economics at honours level places you in the elite of the economics graduates. Because of this you get access to the best staff and the most in depth courses. Most important though, are your fellow honours students, who are also the elite of economics…Completing honours opens doors to any number of potential employers in both the public and private sectors, domestically and internationally. A number of employers of economics graduates (eg Treasury and the RBA) only take graduates with honours qualifications. This is because of the general skills you acquire during the year and the interest shown in the subject. Honours is also a gateway to further study, such as a doctorate, both here and overseas.

David Halperin [2010]

4 The year of completion of Economics Honours is given in square brackets after the former student’s name.

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The material learnt through the honours degree, and the opportunity to write an extended piece of research under supervision, was valuable when I entered work and when I applied for graduate study. Honours study sent a strong signal to employers and universities that I was interested in the topic and that I was willing to work hard.

Callum Jones [2008]

It was a tremendous learning experience, a chance to engage more seriously with economics and to work closely with like-minded students…As a result of my thesis, on the economics of the W.A. Potato Marketing Board, I was asked to submit a paper to a refereed journal. I subsequently became a minor media celebrity when the Board made the news thanks to a combination of a legislative review and the antics of several anti-establishment potato growers. I was interviewed by The Australian newspaper and W.A. Business News, which prompted a furious letter from the Chairman of the W.A. Potato Marketing Board in response.

Oliver Kerr [2003]

Through both the course work and the thesis work, the professors encouraged us to explore different avenues, be it by presenting ideas in classes, encouraging reading around topics, or guiding us to investigate material around our theses. Overall, I would say my honours year had the highest marginal return of all my university years.

Emily Laing [2007]

…The quality of education received at UWA was on a par with anything I might have found anywhere else in the world.

James McClements [1984]

Whilst the year was the most challenging of my university career it was certainly the best! I took the Economics major and electives in International Finance and Topics in Economic Analysis. These were fascinating, and I felt I was learning material that helped me to understand the world around me, whilst also getting a glimpse of just how huge the world is! By far the hardest part of the year is the dissertation! For me, completing the thesis felt like a maze, except I wasn’t just trying to find the end, I had to find where to start first! There are stumbling blocks along the way but your supervisor is there to assist you overcome these. This is the greatest privilege of being an honours student, working closely with academics that are expert in their field and full of character! I was lucky enough to be supervised by Professor Ken Clements, whose fantastic guidance allowed me to complete a paper on the pricing of illicit drugs in Australia.

Susan Pen [2010]

Small class numbers fostered much greater contact with lecturers, who were always willing to discuss problems and issues. I found this one of the more rewarding aspects of the honours year.

John Roberts [1981]

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…the level of care and commitment of supervisors to their honours students is something that makes the honours year a very special academic experience, and something that distinguished the year from other undergraduate experiences.

Derby Voon [2003]

I found my Honours year at UWA to be a pivotal experience for me…If you are inherently a curious, inquisitive person, the Honours programme is a wonderful experience. For the first time in your life, you have the opportunity, through your thesis, to make a contribution to the study of economics…My advice to anyone contemplating doing Honours at UWA? Do it.

Andrew Williams [1996]

My economics degree provided me with a sound grounding in macroeconomic theory. Even more valuable was the knowledge, experience and technical skills which I developed during my honours year and through my work as a tutor for the economics department…Overall, my time spent studying at UWA included some of the best years of my life and provided me with many career opportunities.

Nina Yiannopoulos [2007]

What Did it Lead To?

The wide variety of activities of graduates, and the usefulness of the skills they

acquired in their studies, is reflected in the following passages:

After completing my degree I worked at the Reserve Bank of Australia. Here, I was able to apply economic principles and theories to assist in understanding current issues relevant to monetary policy. For example, I assessed the risks faced by the Australian financial system by conducting analysis into securitisation and insurance practices that would become a key factor in the sub-prime financial crisis some five years later.

Andrew Ainsworth [2001]

…it has certainly opened many doors for me. Having a good honours degree was definitely a vital step in getting a job at the Reserve Bank, where I have worked since 2005.

Louise Carter [2004]

My economics training at UWA was certainly a plus when I later did my MBA at the University of Cambridge. Having moved back to Perth with my family about 8 years ago, I am now with KPMG working in the Energy and Natural Resources area and KPMG’s China Business Practice advising Chinese companies investing in WA. Again my UWA economics degree has put me in good stead as I find I am still applying the economic analytical tools you taught me.

Peter Chong [1986]

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My Economics training at UWA has given me a good grounding for my research, and also provided me with the knowledge and desire to impart these to the younger generations. Amongst my peers who graduated in the same cohort, some have went on to public sector careers in the Reserve Bank of Australia, the Australian Competition and Consumer Commission, while others who have embarked on careers in the private sector with banks such as Merrill Lynch and Citibank, or accounting firms such as Ernst and Young, or KPMG. As for myself, I am currently pursuing a PhD in Economics, and am currently Assistant Professor of Health Economics in the School of Population Health at UWA. I am certain that my education at UWA has primed me well for my work…

Ian Li [2007] I have always been pleased for the grounding that my economics honours year at UWA gave me. That year was instrumental in what I went on to do by way of a career as a “professional economist” in the broader meaning of the phrase. In the beginning it served me well after my graduation when I joined The Treasury in Canberra at what proved to be an especially auspicious time with the election of the Hawke Government…At a very young age I had the pleasure of a front row seat for some of that period as a member of the then Treasurer Keating’s private staff after being seconded from the Treasury in early 1985 after serving 2 years in the Department proper (a testament I would have thought to my economics honours training at UWA).

Stephen Miller [1982]

My career since Economics Honours has led me to management consulting… While I haven’t directly applied my economics in a work context the degree provided me with a strong foundation for thinking in a structured way.

Graeme Thomas [1993]

…the experience taught me many things that have subsequently served me well. Perseverance, attention to detail, time management, patience and satisfaction are words that immediately spring to mind, but I’m sure I could add many others.

Andrew Williams [1996] Why Economics?

Some of the letters from graduates refer to their perception of the broader benefits of

choosing to study economics -- the power of the economic way of thinking, the insights it

provides into national and global events, as well as its sheer intellectual content. Here are

some examples:

I believe an economics degree at UWA teaches one how to think, rather than what to think. It equips one with the tools to be able to think independently and critically about a variety of relevant issues. I distinctly remember an economics lecturer stating in my first year that “just because it is written in

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a book does not mean it is true”, highlighting the need to be able to question, rather than merely accept, what is written.

Andrew Ainsworth [2001]

I decided to take a cadetship from the Reserve Bank and felt like I had landed my dream job. While I was at the Bank I wrote lots of briefing notes for the Reserve Bank Governor and built lots of economic models (on those new-fangled personal computers!) and discovered that economic models are very useful ways of generating powerful insights about complex situations…I am proud of the fact that in some small way, I have used my economics knowledge to make a positive difference in the world. Every now and again, you may hear a perspective that studying economics and business is just something that you do if you want to make money…But economics and business is about so much more than that. Business acts as a catalyst to bring together all disciplines and to ensure cooperation across nations. It underlies the strength of the great economies of the world. Being a business owner or leader brings with it tremendous responsibilities of the employment of others and their well-being while they are at work and of the custodian-ship of the resources of future generations.

Tracey Horton [1985]

Economics is a degree whose tentacles increasingly reach into almost every aspect of society in some form. As such I consider it a valuable launching pad for new graduates.

Peter Kerr [1992]

Studying economics at UWA has opened many career paths. It is powerful knowledge to possess in this era of economic integration and globalization. Based on my experience I would definitely recommend the study of economics at UWA.

Mark Knezevic [2004]

Economics to me was a window on global issues and stretched my imagination beyond what was happening solely in my back yard. It motivated me to travel and have aspirations to seek employment outside of Perth and outside of Australia.

James McClements [1984]

A UWA economics degree has not only enabled me to get my dream job, but also taught me analytical and economic skills which I apply every day in my work. It is a degree which strikes the perfect balance between the humanities and the sciences, a degree which expands one’s capacity to think in the broadest sense of the word. I can strongly recommend it to everyone.

Peter Nagy [2002]

I would, without hesitation, recommend an economics major to new undergraduate students. I think that many people do not realise that they are affected by and involved in economic theories every day. Examples range from the trivial, such as why 2 litres of milk costs less per litre than 300 mL, to important decisions about future expectations on mortgage interest rates.

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Having a good understanding of economic principles helps explain and simplify human behaviour.

David Shackles [2006]

5. Where are They Now?

Honours graduates work in a wide variety of jobs. Many first go to work for a

government agency such as the Reserve Bank of Australia, Federal or State Treasury, or the

Productivity Commission. Then, after several years, they might move to the private sector

and work in banking, economic or management consulting, investment banking, stock

broking, etc. This section provides information on the current activities of the graduates. This

information was collected from several sources, including UWA records, LinkedIn, Google

and websites of companies and other institutions.

Appendix A2 contains detailed information regarding the current employment of 83

graduates. As can be seen from the summary in Figure 1, the graduates are now widely

dispersed over the private and public sectors, including academia, the RBA, consultancies

and financial institutions.

FIGURE 1 CURRENT EMPLOYMENT OF GRADUATES

Source: Derived from Table A2.2.

0

3

6

9

12

15

9

FIGURE 2 NUMBER OF HONOURS STUDENTS, 1980-2010

FIGURE 3 DISSERTATION TOPICS, 1980 - 2010

0

100

200

300

400

500

0

5

10

15

20

25

30

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010

Flow (Left‐Hand Axis)

Stock (Right‐Hand Axis)

0

10

20

30

40

50

60

70

80

90

10

FIGURE 4 DISSERTATION TOPICS, BY DECADE (Percentages)

Notes: Panel A shows the distribution of honours theses by the Journal of Economic Literature classification for 1980-2010. Panels B, C and D are the distribution by decade.

0

5

10

15

20

25A. Total, 1980 - 2010

0

5

10

15

20

25B. 1980 - 1989

0

5

10

15

20

25C. 1990 - 1999

0

5

10

15

20

25 D. 2000 - 2010

(n = 412)

(n = 119)

(n = 132)

(n = 161)

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FIGURE 5 SUPERVISORS OF HONOURS DISSERTATIONS, 1980-2010

Notes: Panel A gives the total number of dissertations supervised by each staff member. Panel B shows the mean number per year which is equal to the total divided by the number of years the supervisor was on staff, standardising for differing lengths of service.

0

10

20

30

40

50A. Number of Students

0.0

0.5

1.0

1.5

2.0B. Number per Year

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TABLE 1: PUBLICATIONS FROM HONOURS DISSERTATIONS

1. Branston, C.B. (with N. Groenewold). “Investment and Share Prices: Fundamental versus Speculative Components.” North-American Journal of Economics and Finance 15 (August 2004): 199-226

2. Carter, L. "Labour Market Responses to the Abolition of Compulsory

Superannuation." Australian Journal of Labour Economics 8 (2005): 351-364

3. Christie, V. "Union Wage Effects and the Probability of Union Membership." Economic Record 68 (March 1992): 43-56

4. Chong, P. "Does Interest Rate Parity Hold for Australia?" Bulletin of Money, Banking

and Finance 3 (1987): 79-96; errata, 1 (1988)

5. Daryal, M. "Prices, Legalisation and Marijuana Consumption." University Avenue Undergraduate Journal of Economics 2002

6. Goh, D. (with N. Groenewold). “Fundamentals and Speculation in the Thai Baht

Crisis.” International Journal of Economics and Finance 5 (October 2000): 297-308

7. Hallam, A. (with E. J. Weber). "Labour Taxes and Work Hours in Australia."

Australian Journal of Labour Economics 11 (2008): 117-128

8. Jones, C. "House Price Measurement: The Hybrid Hedonic Repeat-Sales Method." Economic Record 86 (2010): 95-97

9. Kerr, O. "The Economic Effects of Regulation of the Western Australian Potato

Market." Australian Quarterly Bulletin of Economic Trends 1.04 (2004): 40-61

10. Knezevic, M. "Estimating the Long-Term Costs of Diabetic Kidney Disease: An Economic Approach." Applied Economic Letters 16 (2008): 1059

11. He, L. (with N. Groenewold). “The US-China Trade Imbalance: Will Revaluing the

RMB Help (Much)?” Economics Letters 96 (2007): 127-132

12. Miller, S. "Purchasing Power Parity and Relative Price Variability: Evidence from the 1970s." European Economic Review 26 (1984): 353-67

13. 14.

Moody, A. "The Economics of Trading Blocs: Application to the Indian Ocean Rim." Western Australian Economic Review 16 (July 1996): 8.1-8.35

Pawley, J. (with E. J. Weber). Chapter 18 "Investment, Technical Progress and the

Consequences of the Global Economic Crisis." In O. de La Grandville (ed.) Frontiers of Economic Growth and Development, 11 (2012): 483-92

(Continued on next page)

13

PUBLICATIONS FROM HONOURS DISSERTATIONS (continued)

15. 16.

Rummery, S. “The Contribution of Intermittent Labour Force Participation to the Gender Wage Differential.” The Economic Record 68 (1992): 351-64

Stephens, B. "The Determinants of Labour Force Status Among Indigenous

Australians." Australian Journal of Labour Economics 13 (2010): 287-312

17. Voon, D and P.W. Miller "Undereducation and Overeducation in the Australian Labour Market." The Economic Record 81 (August 2005): 22-33

18. Win, R. "The Effects of Individual and School Factors on University Students'

Academic Performance." Australian Economic Review 38 (2005): 1-18

19. Yang, W. and Zheng, S. (with K.W. Clements) "Is Utility Additive? The Case of Alcohol." Applied Economics 29 (1997): 1163-67

20. Yuen, W-C. "Food Consumption in Rich Countries." Chapter 6 in D. L. Chen World

Consumption Economics, Singapore: World Scientific (1999): 137-52

14

APPENDIX A1

Table A1.1 contains the detailed information on dissertations, including the names of

supervisors, while Table A1.2 is a comparison index. Tables A1.3 and A1.4 relate to students

to whom complete information is missing and/or who graduated before 1980. Details of

honours bursaries and prizes are given in Table A1.5 – A1.7.

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Year/Student Name Dissertation Title SupervisorJEL

Code2010

412. Bartels, C. A Golden Shock: Living Standards, Immigration and Mining Booms Robertson, P. Q411. Doger de Speville, M. Do Economic Fundamentals Drive Stock Market Comovements? Evidence from the United States and Canada Groenewold, N. G410. Doucas, B. A Crude Reality: The Effects of Oil Price Shocks on Australian Stock Returns Groenewold, N. G409. Halperin, D. A New Approach to Forecasting Metals Prices Clements, K. Q408. Low, K.C. Is Australia Suffering from Dutch Disease? Crompton, P. Q407. Pawley, J. Investment and Productivity in Australia 1965-2007 Weber, J. E406. Pen, S. The Pricing of Illicit Drugs Clements, K. D405. Poon, A. Malaysia's Economic Performance During the Global Financial Crisis Tyers, R. E404. Wong, A. Schooling Progression in Indonesia Rammohan, A. J403. Wu, C. An Economic Analysis of the Declaration Criteria in Part IIIA of the Trade Practices Act402. Yong, B.K. Sources of Sustained Chinese Economic Growth: During the Global Financial Crisis (GFC) Tyers, R. E

2009401. Binwani, K. The Economic Growth - Income Inequality Nexus: A Singaporean Case Study Siddique, A. O400. Chan, T. Stock Market Behaviour and Macroeconomic Performance Tyers, R. G399. Cheang, Y. Tear Down the Walls: Analysis of Solutions to the Liquidity Trap Weber, J. E398. Cruise, G. Economics of Recycled Water Prices McLeod, P. Q397. Devitt, T. The Political and Economic Forces Behind Protectionism, and the Role of Economic Thought McLure, M. B396. Liu, W. Subprime Crisis: Has it Changed the Relationship between the Share Market and the Macroeconomy in Australia Groenewold, N. E395. Mero, S. Measures of Home Ownership Affordability in Australia: Trends and Policy Implications McLeod, P. E394. Paterson, J. Commodity Prices, Stock Prices and the Exchange Rate for Australia During the Boom of the Noughties Groenewold, N. G393. Pong, J. Economic Development and Demographic Transition: A Case Study of Singapore Siddique, A. O392. Rowe, C. The Consumer Sentiment Index as an Economic Indicator Weber, J. E391. Stefansson, E. Fiscal Expansions and the Real Exchange Rate: Empirical Evidence from Australia Tyers, R. E390. Stephens, B.J. The Influence of Selected Characteristics on the Labour Market Outcomes Amongst Indigenous Australians Miller P & Birch, E. J389. Wang, S. External Factors that Affect Share Prices—an Australian Approach Groenewold, N. G388. Zhang, L. The Effect of the Short Selling Ban on Financial Market Stability in Australia During the GFC in 2008/09 Weber, J. G

2008387. Anderson, G. Monetary Policy and Stock Prices in Australia: Evidence and Implications Groenewold, N. & Izan, H E386. Bensley, E. The Effect of Terms-Of-Trade Shocks in Australia Under Different Exchange Rate Regimes Groenewold, N. F385. bin Rahmat, M.A.H. Extracting Market Expectations of Future Rate Changes from Australian Bank Accepted Bills Futures Options Weber, J. F384. Davis, B. The Water Market: Demand Side Management Clements, K. Q383. Garner, M. An Analysis of Demand for Perth International Arts Festival Events Miller, P. D

TABLE A1.1HONOURS DISSERTATIONS, 1980-2010

(Continued on next page)16


Code2008

382. Han, D.Y.H. A Comparison of Fundamental and Technical Analysis in Exchange Rate Forecasting Groenewold, N. F381. Jones, C. House Prices Clements, K. E380. Knight, K. Methodological Individualism in Theoretical Welfare Economics McLure, M. I379. Kofanova, A. The Economics of Reserve Holdings Clements, K. E378. Lane, K. The Monetary Dynamics of Hyperinflation in Zimbabwe Clements, K. E377. Petchey, R. A Comparison of Electricity Industry Generation Costs with Nuclear Power Costs: An Australian Case Study McLeod, P. Q376. Priyati, R.Y. The Impact of High Energy Prices on Indonesian Exports Clements, K. F375. Winzar, C. China’s Exchange Rate Regime: Reforming the Renminbi Crompton, P. F

2007374. Bathgate, M. Australian State Business Cycles: A Markov Switching Approach Weber, J. E373. Briggs, M. The Effect of the Australian Competition and Consumer Commission on Mergers and Acquisitions in Australia da Silva Rosa, R. G372. Connolly, L. CEO Pay Packages: Theory vs Practice within Australian Firms Butler, D. M371. Foo, S.P. The Economic and Psychological Approaches to Human Behaviour: Implications for Gambling Addiction Butler, D. D370. Gray, K. Drought, Crops and Insurance: Why Can’t Australia’s Farmers Insure Against Drought? Weber, J. Q369. Kaye, A. Aid, Governance and Growth Williams, A & Wu, Y. O368. Kunakool, S. Trade Policy and Industrial Development in Thailand Siddique, A. L367. Laing, E. Commodities, Currencies and their Inter-Relationships Clements, K. F366. Li, I. Institutional Quality Effects and Graduate Outcomes Miller, P. I365. Maesepp, M. Larry Goes Bananas in North Queensland: The Economic Consequences of Cyclone Larry Clements, K. E364. Ong, S. Cash for Clunkers: An Analysis of a Voluntary Accelerated Vehicle Retirement Program in WA Miller, P. H363. Peiris, D. The Determinants of Foreign Direct Investment: An Empirical Analysis Wu, Y. F362. Sin, Y. The Export Competitiveness of Malaysia and Singapore (1995-2005) Wu, Y. F361. Warren, M. Estimation of the Coefficient of Relative Risk Aversion: A Meta-Analysis Weber, J. D360. Yiannopoulos, N. A Quasi-Market Approach to Education: The Teacher Market Miller, P. I

2006359. Chan, A. The Regional Distribution of Economic Growth Clements, K. R358. Chia, G.E.E. What Influences a Graduate's Starting Salary? Miller, P. J357. Golabek, L. China: The New Frontier of Luxury Goods Consumption Wu, Y. O356. Hallam A. Institutions, Taxes and Work Hours: An Examination of Labour Supply in Australia and NZ since 1990 Weber, J. J355. Ho, S.Q. The Demand for IVF Butler, D. D354. Horner, C Can Diversification Overcome Distance in the Stock Market? Weber, J. G353. Kolychev, A. A Dynamic Analysis of the Price Discovery and Volatility Spillovers in the Foreign Exchange Markets Hoti, S. F

TABLE A1.1 (continued)HONOURS DISSERTATIONS, 1980-2010


Year/Student Name Dissertation Title SupervisorJEL Code

2006352. Mehta, S. The Impact of the Terrorist Events of September 11, 2001 on the U.S. Airline Industry and on Individual Firms Voola, J. D 351. Parameswaran, G. University Students and Tuition Costs; What Do They Think and How Much Do They Know? Miller, P I350. Shackles, D. The Implications of Australian Govt Policy on the Labour Market Performance of Refugees and Asylum Seekers Miller, P. H 349. Tan, J.W. Auction Theory: A Comparison of Traditional Auctions and Online Auctions in the Case of Wine Auctions Clements, K & Fogarty, J. D 348. Tan, T.J. Comparative Advantage in Manufacturing: A Comparison of the ASEAN-5, China and India Wu, Y. O 347. Wyroll, P. The Democracy-Growth Nexus: Contemporary Evidence From Developing Countries Siddique, A. O 346. Yong, K. Is a Single Asian Currency a Beneficial Endeavour? A Comparative Study of Currency Area Optimality Wu, Y. F

2005345. Axworthy, S. Macroeconomic Risk Sharing Amongst States within Australia Weber, J. E344. Barker, T. OPEC Strategies, Achievements and Objectives 1990-2005 Gabbay, R. Q 343. Beaman, S. Australia's Big Four: An Analysis of Competitive Strategy Voola, J & Johnson, J. G 342. Butler, L. An Evaluation of Manpower Forecasting Models and their Application in Australia Miller, P. C 341. Colegrave, A. Why Study? An Analysis of the Returns to Education in Australia Giels, M & Siddique, A. I340. Currell, J.A. Housing Prices and Banking Solvency in Australia Weber, J. E339. Davies-Slate, S. Explaining Regional Differences in Iron Production Costs Crompton, P. Q 338. Gaturu, S. The Globalisation Debate: Selected African Countries' Perspectives Siddique, A. F 337. Hakin, A. Modelling Return and Volatility Spilloves between Stock and FOREX Markets Across Indonesia, Japan and USAMcAleer, M. G 336. He, L. Can a Flexible Chinese Rate Rescue the US Trade Deficit? Groenewold, N. F 335. McDonagh, C. “Big-Bang" Versus Gradualistic Strategies of Economic Transition: Case Studies of Mongolia and Vietnam Siddique, A. O 334. Poole, E. The Role of Uncertainty in Fisheries Management: Case Study on the West Australian Rock Lobster Fishery Weber, J. Q 333. Simmonds, D. Parental School Choice: an Intergenerational Study of the Determinants of School Choice in Australia Miller, P. I332. Su, C. Economic Fundamentals, Volatility & Stock Returns in Australia McAleer, M. G 331. Suttie, F. Environmental Policy, Property Rights and Economic Development Review and Analysis Siddique, A. Q 330. Zaiyuan, S.P. Theocracy and Secularism: How Varied Forms of Government Affects Economic Welfare McLure, M. I

2004329. Carter, L. Proposed Changes to Superannuation Policy: Implications for the Labour Market and Ageing Population McLure, M. J 328. Ceber, A. Monetary Policy in a Low Interest Rate and Low Inflation Environment Weber, J. E327. Chua, B. Growth in Government and Economic Growth in Singapore: Pre and Post Asian Currency Crisis Wu, Y. O 326. Chua, W.H.J. Impact of Immigrant Characteristics on the Propensity for Home Ownership: An Australian Perspective Miller, P. J 325. Coffey, J.R. Modelling Dynamic Conditional Correlations in the Returns to Spot, Forward and Future Prices McAleer, M. G 324. Gray, C.J. Monetary Interdependence between Australia, New Zealand and The US: A Structural VAR Approach Kam, T. E323. Knezevic, M. Cost and Probability Analysis of Type II Diabetes in a WA Community Setting Clements, K & Le, T. I



18

Year/Student Name Dissertation Title SupervisorJELCode

2004322. Lee, B.S. An Economic Theory of National Defence Clements, K. H321. Mai, T.Q. Indo-Australian Economic Relations in Perspective: Trade, Investment, and Aid Ghosh, N. H320. Ng, J. The Real Effects of Financial Deregulation Weber, J. G319. Nugraweni, N. The Electoral-Economic Nexus: An Analysis of Political Cycles in the Australian Macroeconomy Clements, K. H318. Ong, C.A.H. Information in the Labour Market: Application to the Signalling and Screening of NBA Players Miller, P. D317. Ong, K.L.K. Regional Economic Activity in Malaysia Weber, J. R316. Phua, Y.F. The Social Costs and Benefits of Gambling: An Economic Perspective Miller, P. D315. Sargeant, M. Banking: Regulation, Competition and the Social Welfare Consequences Miller, P.314. Shackles, E. The Burden of External Debt and the Need for Debt Relief Siddique, A. E313. Sum, K.J.W. The Economics of Offshore Outsourcing Butler, D. M 312. Verani, S. An Analysis of Open Source Software Developer’s Incentives Clements, K. M 311. Vivatsurakit, T. FDI and its Impact with Particular Reference to Economic Growth: The Case of Thailand Wu, Y. F 310. Wah, W.L. The Relationship between Energy Consumption, Economic Growth and Prices: Evidence from APEC Wu, Y. O309. Yao, R.Y.A. Change in Occupational Status of Immigrants to Australia Le, T. J

2003308. Ang, G.T. The Socio-Economic Costs of Brain Drain from Australia Siddique, A. J 307. Browning, M. Foreign Direct Investment and Economic Growth: Selected Developing Countries' Perspective Siddique, A. F 306. Chan, Y.G. Happiness Economics: The Factors That Affect Happiness in University Education Miller, P & Tcha, M. J 305. Chia, J. Asset Pricing, Macroeconomic Variables, and the Arbitrage Pricing Theory Groenewold, N. E304. Colgrave, A. Derivatives, Volatility and Monetary Policy McAleer, M. E303. Divkovic, V. The Economic Impact of Mergers and Acquisitions in Australia McLeod, P. G302. Kerr, O. The Economics of the Western Australian Potato Marketing Corporation Clements, K. M 301. Lai, W.G.W Causality Relationship between Energy and Economic Growth: The Rich Versus the Poor Wu, Y. O300. Lapham, K. Allocating Property Rights for Efficient Native Title Outcomes Weber, J. K299. Lendry. Positive Inflationary Bias in Discretionary Monetary Policy and Optimal Preference in the Central Bankers Kam, T & Weber, J. E298. Mudford, K. Contemporary Iran and the Broader Objectives of a True Islamic State Gabbay, R. Z297. Ong, Z. The Asset Valuation Problem: A Dampier to Bunbury Natural Gas Pipeline Case Study Clements, K. Q296. Pabla, A. The Economics of Gene Patenting McLeod, P. K295. Phua, K.S.J. The Role of Women in the Economic Development of Singapore, 1970-2000 Siddique, A. D294. Salley, N. Horizontal Fiscal Equalisation: An Efficiency Bonus McLure, M. E293. Tan, T.H. Exchange Rate Pass-Through of Australia's Wool Tcha, M & Wu, Y. F 292. Telling, A. The Economic Impact of Post 11 September 2001 Legislation on the Value of Expatriated US Companies Johnson, J & Holub, M. Z291. Vavakis, L. From Camels to Cadillacs: The Economics of Resource Booms Clements, K. Q



M

19


2003290. Veiga, B. Multivariate Volatility and Spillover Effects in Non-Synchronous Financial Markets McAleer, M. G 289. Vergis, P. Tax Assignment and State Tax Reform McLure, M. H 288. Voon, D. Overeducation of Immigrants Miller, P. I287. Win, R. Economics of Education: Effects of Individual and School Factors on University Students' Performance Miller, P. I286. Yoon, G. The Malaysian Capital Controls: the Output-Inflation Trade-Off and Effectiveness of Policy Groenewold, N. E

2002285. Au, W.H. The Economics of Central Banking Clements, K. E284. Chan, T.Y. The Euro as an International Currency Groenewold, N. F 283. Chua, G. The Wealth of Nations: Theory and Measurement Clements, K. E282. Chua, Y.M. Wages and Performance in Sports: the Australian Basketball Case Tcha, M. J 281. Chung, V. The Marshall-Lerner Condition for the Economy of Hong Kong Groenewold, N. F 280. Donovan, B. Corruption: Economic Growth, Human Capital and Multiple Equilibria Tcha, M. O 279. Edwards, C. Localised Price Manipulation Policies: Economic Tool or Political Instrument? Butler, D. M 278. Eterovich, L. An Analysis of the Australian Competition and Consumer Commission's Enforcement of Merger Law McLeod, P. K 277. Lio, F.S. The Theory of Altruism and the Analysis of Global Food Aid Programs Tcha, M. I276. Maguire, G. The Economics of Daylight Saving Clements, K. E275. McCormick, S. A Post World War Two Economic and Trade Related Comparison of Western Australia and New South Wales Davies, M. E274. Nagy, P. The Economic Effects of Transnational Money Laundering Clements, K. F 273. Nam, C.W. Contagion, and Economic and Monetary Integration of ASEAN-5 McAleer, M. E272. Oh Shaowei, A. Administration of Hedonic Pricing in the Mobile Phone Industry McLeod, P. D 271. O'Keeffe, C. The Growth and Development of British American Tobacco in Cambodia and its Resultant Effects upon the EconSiddique, A. L270. Ossolinski, C. Private Saving and the Effect of Compulsory Superannuation Groenewold, N. D 269. Owyong, Y.C. Does Earned Income Tax Credit Benefit Australia? Miller, P. H 268. Smith, S. The Determination of Specific Purpose Payments in Australia: Empirical Evidence McLeod, P. H 267. Varley, K. Australian Native Title Law And the Mining Industry: An Economic Perspective McLeod, P. K 266. Vo, N.H.T. The State and Big Business in Korea: Evidence of Exclusive Economic Partnership (1961-1973) Siddique, A. M 265. Wee, P.S. Patent Activity and Technical Change in US McAleer, M. K 264. Wong, M.Y. Comparative Advantage in Manufacturing: A Comparison of China and ASEAN-5 Wu, Y. O

2001263. Ainsworth, A. Monetary Policy Rules in an Open Economy: An Application to Australia in the 1990's Weber, J. E262. Bauer, M. Price Discrimination and Equal Opportunity Law McLeod, P. K 261. Bothe, R. The Depreciation of the Australian Dollar in the Year 2000 Clements, K. F



20


Code2001

260. Branston, C. The Share Market, Speculative Bubbles and Investment Groenewold, N. G259. Guok, N. Rates of Return and Government Policy on Higher Education in Singapore Miller, P. I258. Kampf, J. Predictability and Profitability of Technical Trading Rules on the Australian Stock Market Groenewold, N. G257. Kuriyama, T. Protection Practice of Australian Automotive Industry Tcha, M. H256. Marek, J. Economic Viability of an Independent Palestinian State Gabbay, R. P255. McCarthy, L. Option Pricing Under Different Stochastic Assumptions Weber, J. G254. Radalj, K. F. Systematic Risk and Speculative Returns within Australian Dollar Forward Contracts Groenewold, N. G253. Sharpe, A. Third Generation Mobile Phone Spectrum Auctions McLeod, P. D

2000252. Abbotsford, M. Deregulation, Contestability and Airline Economics: An Australian Perspective McLeod, P. M251. Chan, F. Robust Modelling of Volatility in the Presence of Aymmetries, Extreme Observations, Outliers and Thresholds McAleer, M. C250. Church, L. Has Low Inflation Caused Australia's Equity Premium to Fall? Clements, K. E249. Cook, J. An Investigation into Economic Welfare Indicators I248. Eastough, K. The Gender Wage Gap in Australia: Current and Future Directions J247. Fogarty, J. Great Vintages in the South West of Western Australia: Winemakers or Weather? Clements, K. R246. Gilders, K. An Analysis of the Compensation for the Compulsory Acquisition of Land in Western Australia McLeod, P. H245. Lim, A.S.Y. Foreign Direct Investment, Human Capital and Industrial Growth of the Malaysian Economy Madsen, J & Tcha, M. O244. Ng, F. Demographic Transition and Economic Developments in Malaysia: 1957 - 1999 Siddique, A. O243. Nicholls, T. Self Regulation, Market Failure and the Fisheries Industry McLeod, P. P242. Senior, P. The Implications for Monetary Policy of Movements in the Share Market Madsen, J. E241. Zani, C. Derivatives, Systemic Risk and Monetary Policy Weber, J. E

1999240. Adamson, J.E. Commodities and Currency Blocs: The Australian Dollar in the 1990's Clements, K. F239. Bird, W. The Optimal Organisation of Gas Markets in Western Australia McLeod, P. L238. Branston, P. The Credit Channel of Monetary Transmission Madsen, J. E237. Bronswasser, P. The Political and Socio-Economic Conditions in the Islamic Republic of Iran Since the 1979 Revolution Gabbay, R. Z236. Daryal, M. The Economics of Marijuana Clements, K. E235. Day, T. The Real Activity/Stock Return Nexus: A Neoclassical Investigation Within a Dynamic Log-Linear Model Madsen, J. E234. Dorazio, D. The Implications of Inflation Targeting for Australia Leong, K. E233. Egerton-Warburton, D. Mining Royalties and Sovereign Risk in Argentina McLeod, P. H232. Hia, C.P.A. Economic Integration in East Asia: Theoretical Issues and a Preliminary Analysis of Regional Trade Ahammad, H & Tcha, M. F231. Hockey, K.T. An Investigation into the World Bank's Lending Practices Through the Use of Public Choice Analysis Weber, J. E



21


1999230. Hoong, X.Y.C. Robust Estimation, Testing and Forecasting of Volatiliy Models in the Presence of Extreme Observations

McAleer, M. E

229. Hoy, F.T. Real Share Returns and Changes in Inflation Madsen, J. E228. Lowe, E. The Choice of Private Health Insurance and Competition in the Australian Health Insurance Market McLeod, P. I227. Murphy, B. Monetary Policy and Aggregate Stock Returns Groenewold, N. E226. Pauwels, L. The Economics of Pricing Digital Information McLeod, P. D 225. Rossi, G. Forecasting Beta with Macroeconomic Variables: An Examination of Two Approaches Groenewold, N. C 224. Scanlan, B. Australian Monetary Policy and the Taylor Rule Weber, J. E223. Tan, A.S.L. Stock Market Development and Economic Growth in Asia Wu, Y. O 222. Yeo, C. Measuring Intra-Industry Trade in ASEAN: Methodology and Empirical Analysis Wu, Y. C 221. Yeo, J. Causes of the East Asian Crisis - A Business Cycle Perspective Weber, J. E220. Yi, J.S. The Fall and Rise of a Tiger: An Analysis of the Korean Economic Crisis Wu, Y. E219. Yuen, A.T.K. Private House Prices in Singapore: Modelling and Forecasting Groenewold, N. C

1998218. Boo, J. The Asian Financial Crisis: Causes and Consequences Wu, Y. E217. Fabo, J. Convergence of Labour Productivity: Theory and Evidence Madsen, J. J 216. Gill, T. The Impact of Immigration on Unemployment in Australia, 1946-1997 Miller, P. J 215. Goh, D. An Examination of the Role of Fundamentals and Self-Fulfilling Speculation in the 1997 Baht Crises Groenewold, N. F 214. Koh, E.W.S. The Effects of Research and Development on Economic Growth in the World Madsen, J. O 213. Leighton, P. Assistance to the Automotive Industry in Australia McLeod, P & Statham, P. P 212. Murphy, J. Sectoral Responses to Macroeconomic Announcements Groenewold, N. E211. Scholte, J. Secession of Western Australia: Is it Economically Viable Statham, P. H 210. Seng, W.F. The Change in Gold's Monetary Role and the Subsequent Effects Weber, J. Q 209. Smith, P. Dynamic Characteristics of Australia's NAIRU 1967-1997 Groenewold, N. J 208. Veselinovich, B. The Share Market and Investment Groenewold, N. G 207. Wong, R. The Role of Total Factor Productivity in East Asian Economic Growth: A Case Study of Taiwan Wu, Y. O 206. Yuen, T.L. An Economic Evaluation of Competitive Neutrality Policy McLeod, P. H

1997205. Chia, A. Macroeconomic Policies and Economic Development in the Republic of Korea Siddique, A. O 204. Plummer, J.D. Export Instability in China and its Effect on Economic Growth Wu, Y. O 203. Seow, S.H.K. The Role of Agriculture in Economic Development - Study of Egypt Gabbay, R. O 202. Suan, S. Does the Superannuation Guarantee Charge Achieve Intergenerational Equity? McLeod, P. H 201. Tan, A.W. Competing Views on the Mechanics of Growth: The Singapore Experience O



22


1996200. Berinson, N. Explaining 'Problem Unemployment' in Australia by Job Search Factors Weber, J. J 199. Brook, P.J. The Excess Burden and Marginal Excess Burden of Distorting Taxes on Labour Income Greig, B. J 198. Catena, R.G. Islam and the Material World Z197. Chen, J.K. A Re-Examination of the State of the EMH and the Role of International Equity Market Integration McAleer, M & Weber, J. G196. Chua, A. Road Congestion Pricing: From Theory to Practice McLeod, P. D195. Galvin, A. An Empirical Examination of Three Alternative Models of Exchange Rate Determination Madsen, J. F 194. Hollingworth, J.D. Leading Indicators of Australian Recessions Clements, K & Turkington, D.E193. Hutchison, D. The Superannuation Guarantee Charge - Is It Really what Australia Needs? McLeod, P. H192. King, D. Short-Run Portfolio Balance Models: An Analysis Murray, G. G191. Matthewson, M. The Implications of the Uruguay Round for the Trade in Grains between Australia and Japan Tcha, M. F 190. Nicolaou, J. Australia's National Saving Problem Murray, G. E189. Paine, N. The Demand Effects of Population Ageing: Can Australia Support the Baby Boom Generation? Murray, G & Appleyard, R. J 188. Thompson, C. An Examination of the Export-Led Growth Hypothesis Tcha, M. O187. Williams, A. Rural-Urban Migration in Western Australia, 1971-1991: A Todaro Analysis Ghosh, R, N. O

1995186. Brearley, T. Nutrient Pollution in the Peel-Harvey Estuary and Economic Efficiency McLeod, P. Q185. Chaves, F. Determinants of Cost in Western Australian Public Acute Hospitals McLeod, P. I184. Cranswick, M. Britain's Experience of the 1930s Depression, Structural Change and The Government's Reaction Davies, M. N183. Harman, J. An Empirical Analysis of Seasonality in Agricultural Commodity Series Q182. Kemp, A. The Economic Impact of a Movement Towards Tied Australian Aid to Papua New Guinea Statham, P & Siddique, A. E181. Koh, K.T. Should APEC Form a Monetary Union? Weber, J. E180. Koo, A. Gender Wage Difference in the Labour Force of Singapore: A Case Study Miller, P. J 179. Lai, J.H. Theoretical and Empirical Perspectives on the Behaviour of Stock Market Prices in Australia Weber, J. G178. Lee, I.S. The Costs and Benefits of Foreign Labour in Singapore Appleyard, R. J 177. Lewis, E. Australia's Comparative Advantage in the Manufacturing Industry Tcha, M. L176. McIntyre, P.J. An Empirical Analysis of Australian Strike Activity Hemmings, P. J 175. Neo, M.L. The Determinants of Employment Success: Immigrants and the Australian Born Compared Miller, P. J 174. San, L.I. The Costs and Benefits of Foreign Labour in Singapore Appleyard, R. F 173. Seow, S.I. The Role of Direct Foreign Investment in the Structural Change of Australia's Manufacturing Industry Robertson, K. F 172. Somasundaram, J. An Analysis of Factors Determining the Aid Policy of Australia's Development Assistance 1972 Onwards H171. Vart, A. An Analysis of the Role of Psychology in Economics Butler, D. D170. Wright, D.K. The Economics of Australia's Iron Ore Trade with China



F

23


Code1994

169. Chow, W. A Review of World Energy Modelling Methodology C168. Gan, K.C.B. The Determinants of Direct Foreign Investment in Singapore's Manufacturing Sector Tcha, M. F167. Hoe, I. Empirical Analysis of Models of Exchange Rate Determination McAleer, M. F166. Lam, S.W. The Operations of the Multinational Corporation in Singapore's Electronics Industry Robertson, K. M165. Leong, W.C. A Theoretical and Empirical Perspective on the Behaviour of Stock Market Prices in Australia McAleer, M & Weber, J. G164. Liang, L.Y. The Theory Of Games: An Application to the Telecommunications Industry In Australia Miller, P & McLeod, P. M163. Nesdale, G. The Effect of Protection on Australia's Intra-Industry Trade Clements, K. F162. Saulsman, J. The Natural Rate of Unemployment and Hysteresis: Tests with OECD Data Hemmings, P. J161. Wills-Johnson, N. Islam, Christianity and Economic Development O160. Yong, B.S.S. Exchange Rates and the Purchasing Power Parity Clements, K. F

1993159. Hay, M. Alternative Methods of Financing Urban Public Infrastructure McLeod, P. H158. Jonston, T. Imperfect Credit Markets and Monetary Policy Weber, J. E157. Kicic, A. The Role of Industrialization in the Socio-Economic Development of Jordan Robertson, K. O156. O'Sullivan, C. Empirical Regularities of the Australian Business Cycle Clements, K. E155. Sandhu, S. The Industrial Development of the Saudi Arabian Economy Robertson, K. L154. Tan, Y.C.J. The Covered Interest Parity: A New Perspective Harrigan, F. F153. Thomas, G.R. Demand for Real Balances and Monetary Policy in Australia McAleer, M. E

1992152. Brindley, D. The Long-Term Unemployment and Persistence in the Rate of Unemployment: Tests with Australian Data J151. Bryant, E. The Economics of Fertility: Implications for a Rapidly Developing Economy O150. Dennis, F-A. Issues Affecting Western Australian Export in Industries Statham, P. F149. Every, P. The Effect of English Language Skills on Immigrants' Earnings Miller, P. J148. Flint, R. Monetary Policy and the Current Account Deficit E147. Fok, G. Financial Liberalisation in Thailand Murray, G. F146. Gray, A. Monetary Exchange Rate Models: New Evidence for the Australian - U.S. Exchange Rate McAleer, M. E145. Hodby, A.K. Immigration and Unemployment in Australia: 1980-1991 Hemmings, P. J144. Kerr, P. Sensitivity of Effective Rate of Protection Measures in a General Equilibrium Framework Harrigan, F. C143. Khoo, D. An Innovative Approach to the Dutch Disease: A Consideration of Deployment F142. Khoo, H.H. The S$/US$ Foreign Exchange Market: Is it Efficient? F141. Knight, F. A Market of Individuals, and The Bandwagon Effect in Australia Hemmings, P. D140. Lim, J. A Comparative Analysis of the Industrialisation of Hong Kong and Singapore L




Code1992

139. Lynly, W.Y.F. An Assessment of the Unit Root Hypothesis and Some Evidence with Australian Real GDP C138. Millsteed, C. Decomposition of Energy Intensity in Australian Manufacturing: A Test of the Sectoral Shift Hypothesis Weber, J. Q137. Rodrigues, S. Analysing the Impact of the CER Agreement on Trans-Tasman Trade Flows: An Australian Perspective Marais, T. F136. Scott-Murphy, A. Cyclical Unemployment in Australia McAleer, M. J135. Tan, F.A.L. Rural-Urban Migration: The Todaro Model and the Egyptian Experience Gabbay, R. R134. Tan, K. Economic Development and Migration Policies in Singapore Appleyard, R. O133. Wong Geok Moey. Labour Contribution to Economic Growth in Australia Miller, P. J132. Yelverton, D. European Monetary Union: An Examination of the Creation of a Common Currency in Europe E

1991131. Adamson, C. The Australian Domestic Airline System: The Post Deregulatory Experience McLeod, P. H130. Buehrig, K. Is the Australian Dollar Overvalued? Clements, K. F129. Dharmapala, D. Ricardo on the Relationship between Pricing and Distribution: A Survey of the Secondary Literature Ghosh, R, N. B128. Divkovic, S. Transferable Water Entitlements as a Means of Allocating Irrigation Water Services McLeod, P. Q127. Dunn, D. Exchange Rate Determination and Overshooting: Recent Problems for Australia Murray, G. F126. Gracey, M. The Correlation of Savings and Investment: A Flaw in our Understanding of World Capital Mobility? McAleer, M. E125. Hartley, A. The Future of Australian Retirement Incomes Grieg, R. J124. Hester, S. The Economics of Australian Wool Clements, K. Q123. Johnson, P. Real Business Cycle Theory - Australian Evidence, 1991 Weber, J.W. E122. Layman, B. The Economic Impact of the Australian Minimum Reserve Price for Wool on Wool Growers Q121. Peetoom, L. The Threat of Japanese Domination of Australia via Investment, Fact or Fiction? Z120. Press, D. Price Rigidity, Hysteresis and the Medium Term Dynamics of New-Keynesian Economics Hemmings, P. E119. Quinn, M. Foreign Debt and Domestic Investment: The Australian Experience in the 1980's Murray, G. E118. Reynolds, P. The Relevance of the Dual Economy Models: A Case Study of the Phillipines O117. Shim, L.S. Government Policies and Economic Growth in Singapore (1960-1986) Ghosh, R, N. O116. Teo, K.C. Alternative Foreign Debt Management: Evidence from the Murphy Model Harrigan, F. E115. Wicks, K. Privatisation and Telecommunications Policies for Australia in Light of British Experience H

1990114. Archer, B.J.H. The Role of Private Saving in the Australian Economy: Are We Saving too Little? Jackson, J & Murray, G. E113. Feakes, J. Foreign Bank Entry into the Australian Financial System: A Review Weber, J. G112. Flak, H. The Interest Rate Parity Condition and Exchange Control: The European Experience Harrigan, F. F111. Ganeson, D.P. Privatisation as a Micro Economic Reform in Australia McLeod, P. D110. Tan, G.V. The Role of Tourism in the Economic Development of Singapore Gabbay, R. O




Code1990

109. Teo Sien Peng, G. The Australian PESO Problem and the Efficient Market Hypothesis Revisited Clements, K. F

1989108. Crone, P. The Effects of Immigration on the Australian Economy Ghosh, R, N. J107. Edwards, R. The Regulation of Privatised Monopolies: An Examination of Objectives and Outcomes McLeod, P. H106. Jenkin, H. Australia-EEC Trade Relations: Implications of the Single European Act F105. Khoo, S. Fiscal Illusion and the State of Expenditure in Australia Grossman, P. H104. Martin, M. Gold Tax in Australia McLeod, P. Q103. Ng, I. Price Elasticities and Trade: The Case for Australia F102. Poxon, J. The Demographic Transition - A Restatement - The Indian Experience Over the Past 30 Years J101. Reid, T. The Contribution of Technical Education to the Labour Supply in the Manufacturing Industry in Australia J100. Samwel, L. Oil Crisis Impacts on the Tanzanian Economy from 1973-1983 E99. Sivaraman, G. The Impact of Economic Development on Fertility O98. Teo, G. Human Capital Versus Screening: The Role in Education I97. Trail, J. The Effects of Protection on the Australian Economy Murray, G. P96. Zheng, S.W. Is Utility Additive? Clements, K. D

198895. Allnutt, C. Five Country Spatial Equilibrium Analysis of the Beef Trade Takayama, T. F94. Chan, T.S. The Effects of Exchange Rate Volatility of Trade Murray, G. F93. Chappell, M. The Effects of Advertising, Taxation and Health Information upon Demand for Cigarettes and Tobacco McLeod, P. D92. Christie, V. Union Wage Effects and the Probability of Union Membership Miller, P. J91. Garnett, A. The Economics of the Green Paper on Higher Education I90. Johnson, P. An Analysis of Female Labour Supply in Australia Miller, P. J89. Kenny, T. Demand for Beverages and Tobacco in Australia D88. Monk, R. David Ricardo on Technological Unemployment Ghosh, R, N. J87. Munckton, P. International Debt in Developing Countries Murray, G. F86. Pirozzi, M. An Empirical Study of Free-Rider Behaviour within Water Consumption in the State of Western Australia Grossman, P. Q85. Rose, K. The Role of Exports in the Growth and Development of the Economy of Jordan Gabbay, R. F84. Rummery, S. The Contribution of Intermittent Labour Force Participation to the Gender Wage Differential Miller, P. J83. Seah, H.H. The Term Structure of Interest Rates: Theory and Measurement for Australia Reynolds, C. E82. Then, C.T. The Fisher Effect in Australia: A Review of Literature and an Empirical Study Reynolds, C. E81. Wong, A. The Demand for Alcohol in The U.K., 1920-1938: An Econometric Study Clements, K. D80. Wood, A. An Analysis of Crowding Out Theory Murray, G. H



26


198879. Yong, W. Economics of Speculative Bubbles Bowden, R, J. E

198778. Borozdin, R. Australian Immigration 1947-1953: The Fulfilment of Demographic Growth and Labour Supply Requirements Appleyard, R. J 77. Chen, F.J. The Fisher Effect for Common Stocks: An Empirical Investigation Clements, K. E76. Gorey, T. Competition and Structure in the Theory of Industrial Organisation: An Austrian Perspective L75. O'Neill, J. Conceptual and Statistical Difficulties in Measuring the Household Saving Ratio Petridis, R. E74. Quek, K. The Demand for Alcohol in Canada: An Econometric Study Selvanathan, A. D73. Scott, M. Models of Labour and Demand and their Application to Analysis of the Growth of Part-Time Employment J 72. Scully, B. An Analysis of the Choice of an Exchange Rate Regime F 71. Sedgley, P. Labour Market Adjustment - The Case of School Teachers Mulvey, C. J 70. Swindells, M. Migrant Skills and the Workforce J 69. Tilley, E. The Economic Effects of a Rural Hospital on its Local Economy Jackson, J & Babu, S. R68. Wong, J. The Role of "News" in the Australian Foreign Exchange Market Clements, K. F

198667. Chan, T. Testing for the Efficiency of Foreign Market Turkington, D. F 66. Chong, P. An Examination of Interest Rate Parity for Australia: Pre- and Post-Float Clements, K. F 65. Falconer, D. The Natural Rate of Unemployment: Theory and Evidence for Australia Mulvey, C. J 64. Lai, P. Theories of the Labour Markets and Macroeconomics J 63. Lawson, P. Market Solutions to Externalities D62. Lazarus, S. The Jewish Question in Australia (1938-1946) Ghosh, R, N. Z61. Liu, S. The Singapore Economy: Downturn in the 1980's Ghosh, R, N. E60. Lucas, S. Interest Rates and Economic Development O59. Martindal, M. A United States Consumption Study 1961-80 Clements, K. D58. Moore, G. The Economic Impact of the Gold Regulations on the Gold Industry between 1886-1900 Q57. Petch, M. Changes in the Structure of the Australian Economy and Implications for Future Housing Policy Jackson, J. E56. Threlfall, J. Input-Output Multipliers and the Breakdown of Consumption Expenditure McLeod, P. D55. Wallwork, D. An Input-Output Study of the Western Australian Economy McLeod, P. E

198554. Cumming, T. Exchange Rate Determination - Theory Practice Clements, K. F 53. De Souza, K. Hidden Unemployment: A Study of Discouraged Jobseekers in the Australian Labour Market



J

Statham, P.

27


198552. Hussein, N The Demand for Housing: Recent Theoretical and Empirical Extensions McLeod, P. E51. McLaughlin, J. Implicit Contract Theory as a Microeconomic Explanation for Wage Inflexibility J 50. Nairn, A. Government Debt Neutrality H49. Pearce, D. The Demand for Alcohol in New Zealand Clements, K. D48. Roberts, P. Youth Unemployment J 47. Russell, B. The Effects of Deposit Interest Rates and Credit Rationing on Interest Rate Adjustments Peter, R. E46. Walker, S. Diversification and Growth with a Case Study of the W.A. Teachers' Credit Society Z

198445. Cullen, B. The Gregory Thesis Murray, G. F 44. Eley, G. The Social Rate of Discount in Public Project Evaluation Jackson, J & McLeod, P H43. Fyfe, J. The Role of Education in Development: The Case Of Israel Gabbay, R. O42. Halsted, G. The Economic Basis of the Third Universal Theory Z41. Kappelle, S. An Empirical Study of the Validity of Pigou's Law Clements, K. H40. Mason, R. The Role of Saudi Arabia in the OPEC Cartel Q39. McClements, J An Economic Analysis of Expansion in the Iron Ore Industry Q38. Mottolini, M. Indirect Versus Direct Taxation: A Case for Broadening the Tax Base in Australia Ghosh, R, N. H37. Orum, M. The Role of Student Finance in the Demand for Education: Grants Versus Loans I36. Sullivan, W. The Economics of Cigarette Smoking McLeod, P. D35. Teo, G. Growth, Inequality and Ethnic Groups in Singapore O34. Williams, K. State Taxation of the Iron Ore Industry in W.A. Fraser, R, W. H33. Wong, A. The Role of Fiscal Policy in Growth Theories Jackson, J. E

198332. Campbell, B. A Prices and Incomes Policy for Australia D31. Cao, K. Bond-Financed Fiscal Expansion and Crowding Out E30. Chin, F. The Role of Agriculture in Economic Development: A Case Study of Syria Q29. Choi, K. The Incidence of Protection: Theory and Application to the South Korean Economy Clements, K. Q28. Curtis, P. Learning and Earning: Labour Market Implications for Educational Policy Jackson, J. J 27. Ladd, K. The Effect of Tariffs on Australia's Manufacturing Sector 1945-80 H26. Low, M. The Theory and Practice of Competition Policy Narayanan, N. M 25. Wallace, I. The Econometrics of Telephone Demand in W.A. Bowden, R. D



28


198224. Bide, P. Real Wages and Unemployment23. Boulton, L. Unanticipated Inflation and Relative Price Variability: Theory and Evidence for Australia and the US Clements, K. E22. Brosnan, C. An Analysis of the Mutual Interdependency between Labour Migration and Economic Development O21. Brown, K. Is OPEC a Cartel? Q20. Kyle, S. The Theory of Involuntary Unemployment J 19. Miller, S. Purchasing Power Parity Clements, K. E18. Ng, H.G. The Phillips Curve Revisited Sawyer, K. E17. Pegler, L. A Review of the Segmented Labour Market Hypothesis and its Contribution in to Labour Markets Petridis, A. J 16. Silvalingham, B. The Role and Development of Merchant Banking in the Australian Financial System Appleyard, R. G

198115. Bell, J. Hedonic Prices: Property Values and Environmental Amenities: A Review McLeod, P. E14. Clively, S. The Microeconomics of Fertility D13. Depiazzi, M. The Theories of Becker and Leibenstein Concerning the New Microeconomic Analysis of Fertility Ghosh, R. D12. Hughes, J. The Role of Managerial Incentives in a Planned Economy M 11. Hughes, K. Search Theory and Unemployment J 10. Lim, C. Rural-urban Migration in LDS's: Determinants and Consequences R9. Ottaway, A A Review of the Coasian Tradition in Externality Theory and its Policy Implications McLeod, P. H8. Roberts, E.J. The Monetary Approach to Balance of Payments Bishay, M. E7. Roderick, J. The Household Production Model of Consumer Choice McLeod, P. D6. Stewart, T. A Partial Equilibrium Model of the Effective Rate of Protection (ERP): Implications for Resource Allocation Q5. Werner, L. On and Around Post-Keynesian Economics E4. Zamin, R. The Interest Rate Futures Market and the Efficiency of Futures Prices Clements, K. G

19803. Anderson, J. A Critical Analysis of Monetarism E2. Aveling, G. Vertical Integration: Economic Analysis and its Implications for Vertical Merger Policy McLeod, P. M 1. Skead, R. Extensions to the Input-Output Model E

Notes: 1. For JEL (Journal of Economic Literature Codes), see Figure 2 2. As they are approximately equivalent, in a few cases minor master's dissertations are included in this table.


J

29

Name Year Name Year Name Year Name Year Name Year1. Abbotsford, M. 2000 31. Brearley, T. 1995 61. Chia, J. 2003 91. De Souza, K. 1985 121. Ganeson, D.P. 19902. Adamson, C. 1991 32. Briggs, M. 2007 62. Chin, F. 1983 92. Dennis, F-A. 1992 122. Garner, M. 20083. Adamson, J.E. 1999 33. Brindley, D. 1992 63. Choi, K. 1983 93. Depiazzi, M. 1981 123. Garnett, A. 19884. Ainsworth, A. 2001 34. Bronswasser, P. 1999 64. Chong, P. 1986 94. Devitt, T. 2009 124. Gaturu, S. 20055. Allnutt, C. 1988 35. Brook, P.J. 1996 65. Chow, W. 1994 95. Dharmapala, D. 1991 125. Gilders, K. 20006. Anderson, G. 2008 36. Brosnan, C. 1982 66. Christie, V. 1988 96. Divkovic, S. 1991 126. Gill, T. 19987. Anderson, J. 1980 37. Brown, K. 1982 67. Chua, A. 1996 97. Divkovic, V. 2003 127. Goh, D. 19988. Ang, G.T. 2003 38. Browning, M. 2003 68. Chua, B. 2004 98. Doger de Speville, M. 2010 128. Golabek, L. 20069. Archer, B.J.H. 1990 39. Bryant, E. 1992 69. Chua, G. 2002 99. Donovan, B. 2002 129. Gorey, T. 1987

10. Au, W.H. 2002 40. Buehrig, K. 1991 70. Chua, W.H.J. 2004 100. Dorazio, D. 1999 130. Gracey, M. 199111. Aveling, G. 1980 41. Butler, L. 2005 71. Chua, Y.M. 2002 101. Doucas, B. 2010 131. Gray, A. 199212. Axworthy, S. 2005 42. Campbell, B. 1983 72. Chung, V. 2002 102. Dunn, D. 1991 132. Gray, C.J. 200413. Barker, T. 2005 43. Cao, K. 1983 73. Church, L. 2000 103. Eastough, K. 2000 133. Gray, K. 200714. Bartels, C. 2010 44. Carter, L. 2004 74. Clively, S. 1981 104. Edwards, C. 2002 134. Guok, N. 200115. Bathgate, M. 2007 45. Catena, R.G. 1996 75. Coffey, J.R. 2004 105. Edwards, R. 1989 135. Hakin, A. 200516. Bauer, M. 2001 46. Ceber, A. 2004 76. Colegrave, A. 2005 106. Egerton-Warburton, D.1999 136. Hallam A. 200617. Beaman, S. 2005 47. Chan, A. 2006 77. Colgrave, A. 2003 107. Eley, G. 1984 137. Halperin, D. 201018. Bell, J. 1981 48. Chan, F. 2000 78. Connolly, L. 2007 108. Eterovich, L. 2002 138. Halsted, G. 198419. Bensley, E. 2008 49. Chan, T. 2009 79. Cook, J. 2000 109. Every, P. 1992 139. Han, D.Y.H. 200820. Berinson, N. 1996 50. Chan, T. 1986 80. Cranswick, M. 1995 110. Fabo, J. 1998 140. Harman, J. 199521. Bide, P. 1982 51. Chan, T.S. 1988 81. Crone, P. 1989 111. Falconer, D. 1986 141. Hartley, A. 199122. bin Rahmat, M.A.H.2008 52. Chan, T.Y. 2002 82. Cruise, G. 2009 112. Feakes, J. 1990 142. Hay, M. 199323. Binwani, K. 2009 53. Chan, Y.G. 2003 83. Cullen, B. 1984 113. Flak, H. 1990 143. He, L. 200524. Bird, W. 1999 54. Chappell, M. 1988 84. Cumming, T. 1985 114. Flint, R. 1992 144. Hester, S. 199125. Boo, J. 1998 55. Chaves, F. 1995 85. Currell, J.A. 2005 115. Fogarty, J. 2000 145. Hia, C.P.A. 199926. Borozdin, R. 1987 56. Cheang, Y. 2009 86. Curtis, P. 1983 116. Fok, G. 1992 146. Ho, S.Q. 200627. Bothe, R. 2001 57. Chen, F.J. 1987 87. Daryal, M. 1999 117. Foo, S.P. 2007 147. Hockey, K.T. 199928. Boulton, L. 1982 58. Chen, J.K. 1996 88. Davies-Slate, S. 2005 118. Fyfe, J. 1984 148. Hodby, A.K. 199229. Branston, C. 2001 59. Chia, A. 1997 89. Davis, B. 2008 119. Galvin, A. 1996 149. Hoe, I. 199430. Branston, P. 1999 60. Chia, G.E.E. 2006 90. Day, T. 1999 120. Gan, K.C.B. 1994 150. Hollingworth, J.D. 1996

TABLE A1.2INDEX OF STUDENT NAMES, 1980 - 2010


30

Name Year Name Year Name Year Name Year Name Year

151. Hoong, X.Y.C. 1999 181. Kolychev, A. 2006 211. Low, K.C. 2010 241. Nagy, P. 2002 271. Pearce, D. 1985152. Horner, C 2006 182. Koo, A. 1995 212. Low, M. 1983 242. Nairn, A. 1985 272. Peetoom, L. 1991153. Hoy, F.T. 1999 183. Kunakool, S. 2007 213. Lowe, E. 1999 243. Nam, C.W. 2002 273. Pegler, L. 1982154. Hughes, J. 1981 184. Kuriyama, T. 2001 214. Lucas, S. 1986 244. Neo, M.L. 1995 274. Peiris, D. 2007155. Hughes, K. 1981 185. Kyle, S. 1982 215. Lynly, W.Y.F. 1992 245. Nesdale, G. 1994 275. Pen, S. 2010156. Hussein, N 1985 186. Ladd, K. 1983 216. Maesepp, M. 2007 246. Ng, F. 2000 276. Petch, M. 1986157. Hutchison, D. 1996 187. Lai, J.H. 1995 217. Maguire, G. 2002 247. Ng, H.G. 1982 277. Petchey, R. 2008158. Jenkin, H. 1989 188. Lai, P. 1986 218. Mai, T.Q. 2004 248. Ng, I. 1989 278. Phua, K.S.J. 2003159. Johnson, P. 1991 189. Lai, W.G.W 2003 219. Marek, J. 2001 249. Ng, J. 2004 279. Phua, Y.F. 2004160. Johnson, P. 1988 190. Laing, E. 2007 220. Martin, M. 1989 250. Nicholls, T. 2000 280. Pirozzi, M. 1988161. Jones, C. 2008 191. Lam, S.W. 1994 221. Martindal, M. 1986 251. Nicolaou, J. 1996 281. Plummer, J.D. 1997162. Jonston, T. 1993 192. Lane, K. 2008 222. Mason, R. 1984 252. Nugraweni, N. 2004 282. Pong, J. 2009163. Kampf, J. 2001 193. Lapham, K. 2003 223. Matthewson, M. 1996 253. Oh Shaowei, A. 2002 283. Poole, E. 2005164. Kappelle, S. 1984 194. Lawson, P. 1986 224. McCarthy, L. 2001 254. O'Keeffe, C. 2002 284. Poon, A. 2010165. Kaye, A. 2007 195. Layman, B. 1991 225. McClements, J 1984 255. O'Neill, J. 1987 285. Poxon, J. 1989166. Kemp, A. 1995 196. Lazarus, S. 1986 226. McCormick, S. 2002 256. Ong, C.A.H. 2004 286. Press, D. 1991167. Kenny, T. 1988 197. Lee, B.S. 2004 227. McDonagh, C. 2005 257. Ong, K.L.K. 2004 287. Priyati, R.Y. 2008168. Kerr, O. 2003 198. Lee, I.S. 1995 228. McIntyre, P.J. 1995 258. Ong, S. 2007 288. Quek, K. 1987169. Kerr, P. 1992 199. Leighton, P. 1998 229. McLaughlin, J. 1985 259. Ong, Z. 2003 289. Quinn, M. 1991170. Khoo, D. 1992 200. Lendry. 2003 230. Mehta, S. 2006 260. Orum, M. 1984 290. Radalj, K. F. 2001171. Khoo, H.H. 1992 201. Leong, W.C. 1994 231. Mero, S. 2009 261. Ossolinski, C. 2002 291. Reid, T. 1989172. Khoo, S. 1989 202. Lewis, E. 1995 232. Miller, S. 1982 262. O'Sullivan, C. 1993 292. Reynolds, P. 1991173. Kicic, A. 1993 203. Li, I. 2007 233. Millsteed, C. 1992 263. Ottaway, A 1981 293. Roberts, E.J. 1981174. King, D. 1996 204. Liang, L.Y. 1994 234. Monk, R. 1988 264. Owyong, Y.C. 2002 294. Roberts, P. 1985175. Knezevic, M. 2004 205. Lim, A.S.Y. 2000 235. Moore, G. 1986 265. Pabla, A. 2003 295. Roderick, J. 1981176. Knight, F. 1992 206. Lim, C. 1981 236. Mottolini, M. 1984 266. Paine, N. 1996 296. Rodrigues, S. 1992177. Knight, K. 2008 207. Lim, J. 1992 237. Mudford, K. 2003 267. Parameswaran, G. 2006 297. Rose, K. 1988178. Kofanova, A. 2008 208. Lio, F.S. 2002 238. Munckton, P. 1988 268. Paterson, J. 2009 298. Rossi, G. 1999179. Koh, E.W.S. 1998 209. Liu, S. 1986 239. Murphy, B. 1999 269. Pauwels, L. 1999 299. Rowe, C. 2009180. Koh, K.T. 1995 210. Liu, W. 2009 240. Murphy, J. 1998 270. Pawley, J. 2010 300. Rummery, S. 1988

TABLE A1.2 (continued)INDEX OF STUDENT NAMES, 1980 - 2010


31

Name Year Name Year Name Year Name Year

301. Russell, B. 1985 331. Stefansson, E. 2009 361. Vart, A. 1995 391. Wood, A. 1988302. Salley, N. 2003 332. Stephens, B.J. 2009 362. Vavakis, L. 2003 392. Wright, D.K. 1995303. Samwel, L. 1989 333. Stewart, T. 1981 363. Veiga, B. 2003 393. Wu, C. 2010304. San, L.I. 1995 334. Su, C. 2005 364. Verani, S. 2004 394. Wyroll, P. 2006305. Sandhu, S. 1993 335. Suan, S. 1997 365. Vergis, P. 2003 395. Yao, R.Y.A. 2004306. Sargeant, M. 2004 336. Sullivan, W. 1984 366. Veselinovich, B. 1998 396. Yelverton, D. 1992307. Saulsman, J. 1994 337. Sum, K.J.W. 2004 367. Vivatsurakit, T. 2004 397. Yeo, C. 1999308. Scanlan, B. 1999 338. Suttie, F. 2005 368. Vo, N.H.T. 2002 398. Yeo, J. 1999309. Scholte, J. 1998 339. Swindells, M. 1987 369. Voon, D. 2003 399. Yi, J.S. 1999310. Scott, M. 1987 340. Tan, A.S.L. 1999 370. Wah, W.L. 2004 400. Yiannopoulos, N. 2007311. Scott-Murphy, A. 1992 341. Tan, A.W. 1997 371. Walker, S. 1985 401. Yong, B.K. 2010312. Scully, B. 1987 342. Tan, F.A.L. 1992 372. Wallace, I. 1983 402. Yong, B.S.S. 1994313. Seah, H.H. 1988 343. Tan, G.V. 1990 373. Wallwork, D. 1986 403. Yong, K. 2006314. Sedgley, P. 1987 344. Tan, J.W. 2006 374. Wang, S. 2009 404. Yong, W. 1988315. Seng, W.F. 1998 345. Tan, K. 1992 375. Warren, M. 2007 405. Yoon, G. 2003316. Senior, P. 2000 346. Tan, T.H. 2003 376. Wee, P.S. 2002 406. Yuen, A.T.K. 1999317. Seow, S.H.K. 1997 347. Tan, T.J. 2006 377. Werner, L. 1981 407. Yuen, T.L. 1998318. Seow, S.I. 1995 348. Tan, Y.C.J. 1993 378. Wicks, K. 1991 408. Zaiyuan, S.P. 2005319. Shackles, D. 2006 349. Telling, A. 2003 379. Williams, A. 1996 409. Zamin, R. 1981320. Shackles, E. 2004 350. Teo Sien Peng, G. 1990 380. Williams, K. 1984 410. Zani, C. 2000321. Sharpe, A. 2001 351. Teo, G. 1989 381. Wills-Johnson, N. 1994 411. Zhang, L. 2009322. Shim, L.S. 1991 352. Teo, G. 1984 382. Win, R. 2003 412. Zheng, S.W. 1989323. Silvalingham, B. 1982 353. Teo, K.C. 1991 383. Winzar, C. 2008324. Simmonds, D. 2005 354. Then, C.T. 1988 384. Wong Geok Moey. 1992325. Sin, Y. 2007 355. Thomas, G.R. 1993 385. Wong, A. 2010326. Sivaraman, G. 1989 356. Thompson, C. 1996 386. Wong, A. 1988327. Skead, R. 1980 357. Threlfall, J. 1986 387. Wong, A. 1984328. Smith, P. 1998 358. Tilley, E. 1987 388. Wong, J. 1987329. Smith, S. 2002 359. Trail, J. 1989 389. Wong, M.Y. 2002330. Somasundaram, J. 1995 360. Varley, K. 2002 390. Wong, R. 1998

TABLE A1.2 (continued)INDEX OF STUDENT NAMES, 1980 - 2010

32

Student Name Year Student Name Year1. Barratt, T. 2007 17. Maskell, B. 20062. Bitmead, A. 2001 18. Morris, A. 20093. Brown, C. 1980 19. O'Farrell, L. 19924. Bunney, A. 1988 20. Pope, D. 19925. Calkin, G. 2002 21. Quinlivan, R. 19996. Carvell, S. 1995 22. Sassine, S. 19857. Chan, S. 1996 23. Satzke, P. 20068. Chapman, A. 1983 24. Saw, K. 20009. Dawson, B. 1980 25. Sedgley, P. 198110. Harrison, P. 1984 26. Stevenson, V. 200411. Hoar, K. 1998 27. Symons, B. 200512. Jones, M. 1992 28. Teale, K. 199213. Kai, L. 1996 29. Varley, K. 200414. Keillor, D. 1987 30. Vo, N. 200315. Lau, Y. 2002 31. Walker, P. 200316. Little, J. 1997

TABLE A1.3HONOURS STUDENTS, 1980-2010, DISSERTATION DETAILS UNKNOWN

33

TABLE A1.4 HONOURS STUDENTS, 1925-1979

Student Name Year Student Name Year Student Name Year Student Name Year Student Name Year

149. Adam, C. 1973 119. Curtin, P. 1939 89. Herbert, E. 1954 59. Mersh, P. 1953 29. Roger, N. 1972 148. Ainsworth, I. 1972 118. de Blank, R. 1977 88. Ho Koon, N. 1969 58. Metaxas, J. 1974 28. Rogers, P. 1973 147. Allan, D. 1950 117. de Boer A. 1973 87. Holmes, A. 1949 57. Middleton, J. 1979 27. Roughead, A. 1979 146. Anderson, P. 1973 116. De Jasay, A. 1954 86. Hubbard, A. 1974 56. Moses, E. 1976 26. Russell, G. 1950 145. Anderson, E. 115. Dharmasena, K. 1967 85. Jenkins, P. 1972 55. Mugliston, M. 1977 25. Salerian, S. 1979 144. Appleyard, R. 1954 114. Dowsett, W. 1947 84. Johnston, R. 1974 54. Murphy, J. 1972 24. Salter, W. 1953 143. Bacon, N.J. 1955 113. Egerton, R. 1949 83. Jones, G.A. 1979 53. Nadarajah, B. 1966 23. Senfelds, R. 1954 142. Barnett, C. 1972 112. Evans, H.D. 82. Karas, J. 1979 52. Neville, J. 1954 22. Smith, P. 1972 141. Beck, C. 111. Ewing, M. 1972 81. Keillor, D. 1979 51. Newland, H. 1973 21. Sturkey, R. 1957 140. Berrell, G. 1979 110. Feldman, D. 1974 80. Kemp, J. 1949 50. Newton, M. 1950 20. Tange, A. 1937 139. Bevan, R. 1967 109. Fishwick, S. 1976 79. Kerr, I. 1970 49. Nguyen, T. 1969 19. Taylor, G. 1975 138. Bholanivas, P. 1970 108. Foster, M. 1974 78. Kirkwood, M. 1955 48. Nicholas, K. 1971 18. Taylor, S. 1956 137. Blain, N. 107. Frearson, K. 1949 77. Koomsup, P. 1970 47. Nicholas, M. 1949 17. Thieberg, E. 1958 136. Blundell-Wignall, A 1972 106. Frearson, L. 1948 76. Kunnen, J. 1976 46. Ninkov, N. 1979 16. Tonks, A. 1975 135. Boddy, H. 1952 105. Gaffney, D. 1957 75. Laffer, K. 1939 45. Nolan, A. 1979 15. Vanzetti, C. 1948 134. Broome, M. 1958 104. Gallagher, C. 1974 74. Lange, G. 1977 44. Norbu, W. 1976 14. Vanzetti, D. 1975 133. Brown, C. 1977 103. George, G. 1973 73. Langoulant, J. 1976 43. Oloughlin, E. 1964 13. Vargovic, C. 1955 132. Brown, N. 1974 102. Gibbon, R.D. 1979 72. Lendich, Z. 1978 42. Paganoni, A. 1974 12. Vellnagel, B. 1977 131. Bubnich, S. 1976 101. Gibbs, B. 1948 71. Lim, S. 1979 41. Pazolli, A. 1973 11. Venn, F. 1974 130. Byron, R.P. 100. Giles, D. 1970 70. Lindsay, B. 1939 40. Petchey, J. 1979 10. Watson, P. 1959 129. Cann, G. 1971 99. Gluck, S. 1941 69. Lloyd, A. 1968 39. Peters, M. 1977 9. Wilsmore, T. 1939 128. Chan, K. 1958 98. Goerke, H. 1972 68. MacDonald-Taylor, W. 1959 38. Peters, R. 1953 8. Witternoom, J. 1948 127. Chin, F. 97. Goh, N. 1939 67. Mannion, G. 1978 37. Petridis, R. 7. Wood, J. 1973 126. Clayton, M. 1967 96. Goodes, H. 1946 66. Marsh, R. 1973 36. Prentis, L. 1949 6. Wood, M. 1966 125. Collett, S. 95. Gray, R. 1948 65. Marsh, S. 1973 35. Preshaw, A. 1925 5. Wright, G. 1950 124. Comben, G. 1976 94. Green, J. 1970 64. McCarrey, S. 34. Raeburn, V. 1978 4. Xavier, P. 1965 123. Conroy, J. 1949 93. Greig, R. 1972 63. McKenna, M. 1975 33. Rappolt, P. 1959 3. Yap, W. 1970 122. Cook, A. 1947 92. Griffiths, D. 1973 62. McKenna, R. 1976 32. Reid, D. 1949 2. Yusoff Bin, M. 1973 121. Cramer, G. 1948 91. Grocott, S. 1974 61. McLean, M. 1977 31. Roberts, R. 1931 1. Zain, M. 1964 120. Crouch, T. 1978 90. Gunning, R. 1974 60. McLean, R. 1967 30. Robertson, J. 1974

34

TABLE A1.5 VARGOVIC MEMORIAL BURSARIES

Year/Student Name Year/Student Name Year/Student Name

2010 2006 2003 73. Colleen Bartels 49. Anton Hallan 23. Riaz Shareef 72. John Pawley 48. Owen Ho 22. Bernado Veiga 71. Aubrey Poon 47. Caley Horner 21. Derby Voon 70. Emma Stefansson 46. Giridhar Parameswaran 20. Gina Yoon 69. Soo Ling Teo 45. David Shackles

44. Chee Kong Wong 2002 2009 43. Paul Wyroll 19. Peter Nagy

68. Gavin Cruise 18. Crystal Ossolinski 67. Dahai Fu 2005 17. Vitaly Pershin 66. James Paterson 42. Simon Axworthy 16. Kim Radalj 65. Emma Stefansson 41. Owen Ho 15. Riaz Shareef 64. Liming Zhang 40. Emily Poole 14. Adam Sharpe

39. Stephane Verani 13. Sharon Smith 2008 38. Lukas Weber 12. Clinton Watkins

63. Benjamin Davis 37 Chee Kong Wong 11. Jasslyn Yeo 62. Megan Garner 61. Callum Jones 2004 2001 60. Alexandra Kofanova 36. Chelsea Gray 10. Andrew Ainsworth 59. Kevin Lane 35. Owen Chih-Hung Ho 9. Renae Bothe 58. Maxwell Maesepp 34. Mark Knezevic 8. Christopher Branston 57. Stefan Mero 33. Ghim Way Wilson Lai 7. Bernadette Donovan 56. Cassandra Winzar 32. Ellen Shackles 6. Laure Eterovich

31. Riaz Shareef 5. Suhejla Hoti 2007 30. Peter Chan Chai Su 4. Baiding Hu

55. Michael Bathgate 29. Kelvin Jia Wei Sum 3. Jodie Kampf 54. Sarun Kunakool 28. Chee Kong Wong 2. Yihui Lan 53. Emily Laing 1. Gareth Maguire 52. Ian Li 2003 51. Nina Yiannopolous 27. Vanessa Divkovic

26. Suhejla Hoti 2006 25. Katrina Lapham

50. Grace Chia 24. Nicola Salley

35

TABLE A1.6 ECONOMIC SOCIETY OF AUSTRALIA

HONOURS PRIZE WINNERS

Year Student Year Student

2010 David Halperin 2006 Giridhar Parameswaran 2009 Christopher Rowe 2005 Emily Poole 2008 Callum Jones 2004 Louise Carter 2007 Aimee Kaye 2002 Sharon Smith

TABLE A1.7 ECONOMIC SOCIETY OF AUSTRALIA

PRIZE FOR BEST HONOURS THESIS IN ECONOMICS

Year Student

Year Student

2010 Susan Pen 2004 Louise Carter 2008 Callum Jones 2003 Mian Er Voon Derby 2007 Aimee Kaye 2001 Kim Radalj 2005 Emily Poole 1998 Daryl Goh

36

APPENDIX A2

Table A2.1 gives a breakdown of dissertation topics by decade. I received 22 letters from former students as part of this project and these are

reproduced in this appendix in the following order:

Name [year] Page number 1. Andrew Ainsworth [2001] 39 2. Louise Carter [2004] 40 3. Peter Chong [1986] 41 4. Bernard Gan [1994] 42 5. David Halperin [2010] 43 6. Tracey Horton [1985] 44 7. Callum Jones [2008] 46 8. Oliver Kerr [2003] 47 9. Peter Kerr [1992] 48 10. Mark Knezevic [2004] 49 11. Emily Laing [2007] 51 12. Ian Li [2007] 52 13. James McClements [1984] 53 14. Stephen Miller [1982] 55 15. Peter Nagy [2002] 57 16. Susan Pen [2010] 59 17. John Roberts [1981] 60 18. David Shackles [2006] 61 19. Graeme Thomas [1993] 62 20. Derby Voon [2003] 63 21. Andrew Williams [1996] 64 22. Nina Yiannopoulos [2007] 65

Table A2.2 gives the current employment of those graduates for whom we could locate this information.

37

TABLE A2.1 TOPICS AND TIME, CONTINGENCY TABLE

Notes: The expected value of a cell is equal to the product of the row and corresponding column totals, divided by the total number

of observations. The chi-squared test statistic is equal to 2r c

i =1 j=1 ij ij ij Σ Σ o - e e , where r is the number of rows, c is the number of

columns, oij is the observed value in row i and column j and eij is the corresponding expected value. The observed chi-squared value, 52.33, is significant at the 1-percent level; under the null of independence, this test statistic follows an asymptotic chi-squared distribution with degrees of freedom equal to 20.

Journal of Economic Literature Category

Decade

2000-10 33 19 11 14 13 11 13 19 13 8 7 161

1990-99 29 21 17 16 5 9 8 6 2 2 17 132

1980-89 21 12 21 5 15 10 9 2 3 3 18 119

TOTAL 83 52 49 35 33 30 30 27 18 13 42 412

2000-10 32 20 19 14 13 12 12 11 7 16 161

1990-99 27 17 16 11 11 10 10 9 6 4 13 132

1980-89 24 15 14 10 10 9 9 8 5 3 12 119

TOTAL 83 52 49 35 33 30 30 27 18 13 42 412

χ2 = 52.33

A. Observed

B. Expected Under Independence

6

38

Finance Discipline

School of Business

Room 408, Economics and Business Building

(H69)

The University of Sydney

NSW 2006 Australia

T +61 2 9036 7992

F +61 2 9351 6461

E [email protected]

sydney.edu.au/business/finance

ABN 15 211 513 464

CRICOS 00026A

Dr Andrew Ainsworth

Lecturer

Finance Discipline School of Business

19 June 2011

Professor Kenneth W Clements

Business School, University of Western Australia

Crawley, Western Australia, 6009

Dear Ken,

RE: UWA ECONOMICS HONOURS Thank you for the opportunity to reflect on my study of economics at the University of Western Australia. I completed an economics honours degree in 2001 and thoroughly enjoyed the experience. The academic staff were extremely approachable and willing to assist students in improving their understanding of economics. The calibre of the students also made for an invigorating and stimulating university experience. The honours year was not too overwhelming, although I did develop an addiction to $1 coffees on offer around campus, with consumption increasing as the thesis submission deadline approached. I believe an economics degree at UWA teaches one how to think, rather than what to think. It equips one with the tools to be able to think independently and critically about a variety of relevant issues. I distinctly remember an economics lecturer stating in my first year that “just because it is written in a book does not mean it is true”, highlighting the need to be able to question, rather than merely accept, what is written. After completing my degree I worked at the Reserve Bank of Australia. Here, I was able to apply economic principles and theories to assist in understanding current issues relevant to monetary policy. For example, I assessed the risks faced by the Australian financial system by conducting analysis into securitisation and insurance practices that would become a key factor in the sub-prime financial crisis some five years later. I have since completed a PhD and am now an academic at the University of Sydney. I have returned to UWA on numerous occasions since my graduation, most recently as an academic. It is fantastic to be able to catch up with former lecturers, now as colleagues. I know that ten years on from completing my degree, I am still reaping the benefits of my study of economics at UWA. Yours Sincerely, Dr Andrew Ainsworth

39

Dear Professor Clements,

Thank you for the opportunity to contribute to your book.

I completed my honours degree in economics at UWA in 2004. I remember my honours year being very challenging, but also very rewarding – and it has certainly opened many doors for me. Having a good honours degree was definitely a vital step in getting a job at the Reserve Bank, where I have worked since 2005.

I found the UWA honours program to be quite well-rounded in several respects. In particular, the program has a good balance between its dissertation and course-work components and, within this, between the core and elective course-work units. Many students in our year had quite a quantitative focus, and the School was flexible enough to run the fourth year Mathematical Economics unit for us (for what I understand was the first time in several years). The structure of the program, with both the course-work and dissertation components running throughout the year, also provided a good balance. I feel that this allowed for more considered dissertation work, while also providing a continued sense of connection with other students and the School more broadly throughout the year.

A definite advantage of the UWA program was the small class size. As well as allowing for greater contact between students and lecturers, I would also say that the small class size also meant that students were able to spend more time with their dissertation supervisor. I remember having weekly meetings with my supervisor, Michael McLure, who offered excellent guidance and support (and never got upset when I turned up for a meeting without having touched my dissertation all week).

I would say that some of my fondest memories of my honours year are of the support provided by other students, and of the various ‘personalities’ in the School at the time. I remember many impromptu ‘group’ meetings in the Maulden room, as we struggled to get through Darryl Turkington’s weekly mathematical economics assignments (or, at least until the lecturers in neighbouring offices got sick of us laughing so loudly that we were ‘asked’ to relocate). (And it must be noted that Darryl did make up for his torturous assignments by taking us out for drinks after our last class.) The late evening applied econometrics classes were also made much more tolerable with class coffee runs to the guild coffee shop. And of course, who could have ever made it through a hard-core quant. unit without some assistance from Felix Chan.

To sum up, the honours program at UWA provided an excellent base for my career as an economist – not only through the content and structure of the program, but also through the clear, analytical way of thinking that the course encourages. But in addition, the small and sociable nature of the program also ensured that my experiences during the year went well beyond just academics.

Louise Carter

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DR B E RNA RD G AN

Le c t u r e r

Or ga n i s a t i on & M a n a ge m e n t

Au s t r a l i a n S c h oo l o f B u s i n e s s

U N S W S Y D N E Y N S W 2 0 5 2

A U S T R A L I A

F a c s i m i l e : +6 1 (2 )9 6 62 -8 5 3 1

Te l ep h on e : +6 1 (2 )9 3 8 5 -6 7 0 1

E-ma i l : k c gan @u n sw. ed u . au

20

th July 2011

To Kenneth W Clements

Winthrop Professor of Economics

Head of Economics

Dear Ken,

Thank you for your invitation to share my thoughts and experience in the UWA Honours

Economics graduate book. I graduated from UWA in 1995 and returned to Singapore to work

for the Port of Singapore Authority (PSA). Three years into my employment, I obtained

sponsorship from my company to pursue a Masters of Economics by course work at UWA.

Thereafter, I was posted to Northeast China to manage container port operations in PSA’s

flagship international joint-venture project – Dalian Container Port. While my work did not

directly involved Economics, my training at UWA provided strong foundations in critical

thinking and conceptualisation skills. Further, being an international student in Perth for a

number of years had extensively enriched my people skills as well as positive attitude in life.

I continued to work for PSA till 2005 when once again, the passion for lifelong learning

which I have acquired at UWA prompted my decision to pursue a doctorate degree. I did not

return to UWA only because my family are based in Sydney. In 2010, I graduated with a PhD

in Organisation and Management. In 2011, I became a lecturer at the School of Organisation

and Management, the faculty of Australian School of Business at the University of New

South Wales (UNSW).

I am glad to be given this opportunity to pen my thoughts for alma mater who had played a

significant role in shaping my career and attitude in life. I am particularly grateful to my

honours supervisor, Professor MoonJoong Tcha, and yourself. I hope this testimony will

prompt more students to choose to study Economics at UWA.

Yours sincerely

Gan kah chun Bernard Gan

BEc(Hons), MEc (UWA), PhD (UNSW)

42

Dear Potential Economics Honours Students

Economics is a broad subject, touching on aspects of psychology, mathematics,

politics, history, philosophy and business, appealing to a wide variety of groups. Economics

is also a very important field; it touches on the livelihood of all people whether it is through

the theoretical study of markets or through its application by politicians, central bankers,

regulators, business or the choices of individuals. It is this that attracted me to the subject,

and made me want to undertake honours to further develop my knowledge and

understanding.

Studying economics at honours level places you in the elite of the economics

graduates. Because of this you get access to the best staff and the most in depth courses. Most

important though, are your fellow honours students, who are also the elite of economics. The

classes are small (typically 10 students), so you get to know everyone very well, you become

a close-knit group, with lasting friendships. You are all in the same boat, with the same trials

and tribulations which makes a perfect environment for making these long lasting

friendships. And as you are all bright, the atmosphere is conducive to the general group

learning.

The dissertation is the most important aspect of the honours year. It is a daunting task,

but it is worthwhile, rewarding, and the best learning experience at university. The most

important aspect of the dissertation is the general skills you acquire from writing it. You get

to choose a topic you are interested in (at least at the beginning of the year!) and delve deeply

into it. The dissertation is undertaken under the close supervision of a professor who is

interested in your topic. However, your topic is not set in stone; I changed my topic 3 times

before settling on my own. You may also get the chance to present your dissertation at a

conference, or even write it up as a working paper for possibly submission for publication at

a journal.

Completing honours opens doors to any number of potential employers in the both the

public and private sectors, domestically and internationally. A number of employers of

economics graduates (eg Treasury and the RBA) only take graduates with honours

qualifications. This is because of the general skills you acquire during the year and the

interest shown in the subject. Honours is also a gateway to further study, such as a doctorate,

both here and overseas.

I strongly advise you all to undertake the honours year in economics. It will be the

best decision of your university career.

David Halperin

Analyst, Reserve Bank of Australia

UWA Economics Honours Graduate, 2009/2010

43

17 June 2011

Dear Ken

Your letter asking me for my reflections on my experiences as an Honours student in Economics at

UWA and the value that it has contributed to my career took me for a trip down memory lane to my

days as an undergraduate student at UWA.

I loved studying Economics as a high-school student and remember being overwhelmed and delighted

at the vast array of topics that I could study as part of a UWA Economics degree in addition to the

standard Macro and Micro: Australian Economic History, Middle East Economies, Statistics,

Development Economics just to name a few. I found every unit I took fascinating (well, maybe not

Statistics!) and by the time I finished third year I wasn’t ready to leave because I was enjoying myself

so much. I was fortunate to receive an offer to study Honours plus several job offers. I decided to

take a cadetship from the Reserve Bank and felt like I had landed my dream job. While I was at the

Bank I wrote lots of briefing notes for the Reserve Bank Governor and built lots of economic models

(on those new-fangled personal computers!) and discovered that economic models are very useful

ways of generating powerful insights about complex situations.

From the RBA, I went to Stanford Business School and did my MBA. My UWA Economics degree

stood me in good stead throughout the competitive application process and throughout my course as

I was extremely well prepared. As an economist you are numerate, literate and have an analytical

mind – all necessary success factors for an MBA and for the next stage in my career, management

consulting, where my analytical skills and ability to solve problems were highly prized. I found that

many business problems, although not straightforward, were often classic economic problems. Also, I

found that my ingrained understanding of incentives and trade-offs from my rigorous UWA training

gave me an intuitive understanding of many strategic problems.

I ended up living in the U.S. for more than ten years; I returned to Western Australia in 2000 and will

always be grateful to you for the introductions that you provided me to influential business people.

I’m sure it was that convincing letter that you wrote to John Poynton about my skills and capabilities

that closed the deal for me being offered a partnership at GEM Consulting!

I eventually made the break from the world of management consulting to become Dean here, back at

the Business School at UWA. For me this is job that is about making a difference to the Western

Australian community through achieving some major goals: to create a vision that elevates the

school’s reputation, to build a culture that places a greater emphasis on fund-raising and alumni

outreach and on relationships with the Perth business community; and making investments in the

future by recruiting some of the smartest talent in the world.

I am proud of the fact that in some small way, I have used my economics knowledge to make a

positive difference in the world. Every now and again, you may hear a perspective that studying

economics and business is just something that you do if you want to make money. I’ve heard this from

Office of the Dean

Winthrop Professor Tracey Horton

Phone: 08 6488 2883

Facsimile: 08 6488 1068

Email: [email protected]

CRICOS Provider No: 000126G

44

mailto:[email protected]

more than one graduation speaker in my time here at UWA. But economics and business is about so

much more than that. Business acts as a catalyst to bring together all disciplines and to ensure

cooperation across nations. It underlies the strength of the great economies of the world. Being a

business owner or leader brings with it tremendous responsibilities of the employment of others and

their well-being while they are at work and of the custodian-ship of the resources of future

generations.

It’s not often that we take the time to take stock and reflect on how our lives and careers have

progressed. I thank you for the opportunity to do so. Congratulations on the very impressive list of

Economics Honours graduates that you and the Economics Group at UWA have been instrumental in

developing. I am certain that you will be very proud to read their letters to you.

With sincere thanks,

Winthrop Professor Tracey Horton

Dean, UWA Business School

45

Economics Department

New York University

19 W 4th St

New York

New York 10012

August 20, 2011

Professor Ken Clements

Economics Department


35 Stirling Highway

Crawley

Western Australia 6009

Dear Ken

I am writing to you from my apartment in New York City, soon to begin graduate study in economics

at New York University. I have spent the past few days exploring one of the most exciting places

in the world; despite the blisters on my feet it seems like I’ve only seen a fraction of the city!

The UWA Economics degree helped get me here. Looking back, it was rewarding. While studying, Ibefriended mentors, broadened my understanding of the subject of economics, and entered external

essay competitions, one of which led me to two years of productive graduate work with the Reserve

Bank of Australia’s Economic Research department.

My time at university culminated in a choice about whether to pursue the 10 months of honours

study in economics. I applied. The material learnt through the honours degree, and the opportunity

to write an extended piece of research under supervision, was valuable when I entered work and

when I applied for graduate study. Honours study sent a strong signal to employers and universitiesthat I was interested in the topic and that I was willing to work hard.

I wish you, everyone at the UWA Economics Department, and future honours students all the best.

Yours Sincerely,

Callum Jones

46



University of Western Australia

10 August 2011

Dear Ken,

Thank you for the opportunity to reflect on my experience of the Economics Honours program. My

Honours year in 2003 was a highlight of my time at UWA. It was a tremendous learning experience, a

chance to engage more seriously with economics and to work closely with like-minded students.

Fourth year coursework was more interesting and challenging than earlier years, with a more collegiate

feel. International trade with Prof Moon Joong Tcha was a good example of an engaging unit, and an

engaged class. The class ran longer than its scheduled three hours most weeks as everyone had an opinion

on the papers that we studied. The last class ran more than an hour over time due to the added challenges

involved with Prof Tcha delivering on his promise to shout coffee for the entire class.

The International Finance exam that you set was a good example of the challenges of Honours units. The

main essay question was along the lines of “Arnold Schwarzenegger is elected President of the United

States – what happens to the Australian Dollar?” Let’s hope it never happens.

All of our class benefited from the opportunity that the Honours dissertation gave to engage in an

extended research project. As a result of my thesis, on the economics of the W.A. Potato Marketing Board,

I was asked to submit a paper to a refereed journal. I subsequently became a minor media celebrity when

the Board made the news thanks to a combination of a legislative review and the antics of several anti-

establishment potato growers. I was interviewed by The Australian newspaper and W.A. Business News,

which prompted a furious letter from the Chairman of the W.A. Potato Marketing Board in response.

On a personal level, while the Honours year was very hard work, I was able to juggle study with being the

Director of the PROSH charity, and playing club hockey for UWA. Graduating with Honours in Economics

opened up a wide variety of opportunities. The course is well recognised, but more importantly in my

opinion was tremendously helpful in preparing for the world beyond study. After finishing at UWA, I

moved to Melbourne to begin a career with L.E.K. Consulting, an international corporate strategy advisor.

After several years working in Melbourne and London, as well as time out to study for a MBA at Judge

Business School, Cambridge University, I have recently returned to Perth to join PwC Consulting in their

Strategy practice.

Undertaking UWA’s Economics Honours program was one of the best choices I made at UWA, and I would

recommend it wholeheartedly to future students who are considering their study options.

Kind regards

Oliver Kerr

47

Mark Knezevic 124 West 60th Street, Apt.24N New York, NY 10023 June 12, 2011

Ken Clements UWA Business School 35 Stirling Highway Crawley, WA 6009

Dear Ken:

Thank you for your letter regarding the compilation of a book documenting the experiences of economics students at the University of Western Australia (UWA). I think it is a great idea and am delighted to have the opportunity to add to the book. I received my economics degree, with first class honours, from UWA in 2004. Over the four years, I focused on the quantitative stream (econometrics and mathematical economics) in addition to standard economic theory (micro and macroeconomics). The degree culminated with an honours thesis in the field of health economics (a study of the costs of diabetic kidney disease based on data obtained from the Fremantle Diabetes Study). Although not having studied this narrow field directly in the pre-honours years, the knowledge and skills of the quantitative stream were easily transferrable. An article based on the dissertation was ultimately published in the Journal of Applied Economics Letters. The ability to apply quantitative techniques to solve real world problems in any number of fields – in my case, health economics – is one of the ultimate strengths of the economics discipline. Upon graduating, I was accepted as part of the Reserve Bank of Australia’s (RBA) graduate intake in 2005. I have been working with the RBA ever since. From 2005-07 I worked in a number of analytical and research roles (foreign exchange markets, domestic liquidity forecasting). Subsequently, I worked on the trading floor, first, on the domestic market operations desk (which implements the RBA’s monetary policy by managing cash levels in the Australian banking system), and then, on the foreign exchange reserve management desk. I moved to New York to help manage the RBA’s US dollar reserves in 2009. In all these roles, knowledge of macroeconomics and monetary theory has come in useful, not to mention the ability to apply quantitative techniques to data. Friends from the class of 2004 have followed career paths that have similarly leveraged their economics study. They have gone on to work at the RBA, Australian Treasury, and the World Bank, not to mention various investment banks both in Australia and around the world.

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June 12, 2011 Page 2

Studying economics at UWA has opened many career paths. It is powerful knowledge to possess in this era of economic integration and globalization. Based on my experience I would definitely recommend the study of economics at UWA. Warmly,

Mark Knezevic

50

23 July 2011

Winthrop Professor Kenneth Clements

UWA Business School

RE: The Value of an Economics Honours Degree from UWA

Dear Professor Clements

I refer to your letter asking for a recollection of my memories as an Economics graduate from UWA. I

commenced my Bachelor’s degree in Economics at UWA in 2005, and have many fond memories of my

undergraduate education. Certainly, my undergraduate studies contributed significantly to my current

academic career in terms of the knowledge I gained, but also the interest that I developed over the course of

my studies. Initially, I intended to pursue my interests in Law after completing my Economics degree, but that

soon changed after the knowledge I gained in the Economics course stimulated my interest in Economics, and

only whetted my appetite further to gain a deeper understanding in this field.

I recall attending your classes on Monetary Economics, which had a very application based approach. Current

events and news were part of the lectures and tutorials, and were, quite possibly, good candidates for

examination material. Hence, this inculcated amongst the undergraduates the habit of keeping current on

news, and especially, finding out the latest on the Reserve Bank of Australia decisions on the first Tuesday of

every month (save January). I could also never forget the past year examination paper for International

Finance, in which a question asked for the implications for the exchange rate, under the hypothetical scenario

of US President George W. Bush being re-elected for a third term, of course with the US constitution being

amended. That was an example of the type of learning I experienced in my undergraduate learning - the use of

economic theory to rationalize and predict the effects of (seemingly) unrelated world events.

Shortly before completion of my bachelor’s pass degree, I attended the honours information session to decide

whether I should take up the honours course. I can still clearly remember the words of Professor Nicolaas

Groenewold, who was addressing the prospective honours candidates. Professor Groenewold said that when

he completed his bachelor’s degree, he felt that he knew all there was to know about economics. Yet, as he

progressed through his honours, and further higher qualifications, he felt that he knew lesser and lesser. That

impressed upon me, the boundless limits in the realm of Economics, and even today, as I gain more

knowledge about Economics and its workings in the world, these words of wisdom resonate within me. There

is considerably more to be said of my educational experience at UWA, but for the sake of brevity. In

summary, the Economics program at UWA is of a very high quality, and inspires students to do well and

“Seek Knowledge”.

The career opportunities that open up to UWA Economics honours graduates are vast as well. My Economics

training at UWA has given me a good grounding for my research, and also provided me with the knowledge

and desire to impart these to the younger generations. Amongst my peers who graduated in the same cohort,

some have went on to public sector careers in the Reserve Bank of Australia, the Australian Consumer and

Competition Commission, while others who have embarked on careers in the private sector with banks such

as Merrill Lynch and Citibank, or accounting firms such as Ernst and Young, or KPMG. As for myself, I am

currently pursuing a PhD in Economics, and am currently Assistant Professor of Health Economics in the

School of Population Health at UWA. I am certain that my education at UWA has primed me well for my

work, and I am indebted to the UWA Economics department and its fine educators, who have done a good job

in preparing its graduates. In essence, the UWA Economics program sets up its graduates for a rewarding

career ahead, and certainly provides the skills and tools needed to do so. I would highly recommend the UWA

economics degree to any aspiring student of economics.

Yours sincerely,

Ian W. Li

School of Population Health, FMDHS

MBDP431

35 Stirling Highway

Crawley, Perth

Western Australia 6009

Email: [email protected]

http://www.sph.uwa.edu.au/

CRICOS Provider Code: 00126G

52

1

17 June 2011 UWA Business School Economics 35 Stirling Highway Crawley WA 6009

Like many students at UWA I was the product of a schooling in a remote town and my exposure to the world let alone the big city of Perth in the 1980’s was extremely limited, so for the first few years at UWA studying economics I was overawed by the environment and quietly went about my business of learning the ropes of being a university student. I doubt anyone at the economics department knew of my existence and I was happy with that. The opportunity to participate in the honours program however was one of the best decisions I have had the opportunity to make. The small group of 12 or so that met on a regular basis and the close contact with a range of department staff meant that there was nowhere to hide. As the year wore on the intensity of the discussions and the quality of the debate increased and I found my voice. Some of the more interesting discussions revolved around the then relatively new Professor Ken Clements “Chicago” view of the world. The debate around the comment “that unemployed people choose to be unemployed” sticks in my memory. I had at the time strong objections to this perspective but with time and a little more experience have probably moved a little closer to understanding Professor Clements’ view but still not sure I am all the way there.

Economics to me was a window on global issues and stretched my imagination beyond what was happening solely in my back yard. It motivated me to travel and have aspirations to seek employment outside of Perth and outside of Australia. I clearly had a strong background in the resources industry which in itself is one of the most globally diverse industries. The economics degree gave me the opportunity to pursue a career in the financing aspects of the resources industry.

Post my degree I spent several years back in the Pilbara working with BHP at the Mt Newman iron ore mining project. After some travel around Australia I had the opportunity to work with a Merchant Bank (a term rarely used these days) in Perth as an analyst reviewing and evaluating project financing for junior mining companies developing projects in Australia and North America. This was the window to a career in finance in the mining industry that appealed to my more entrepreneurial side. This led to a move to Rothschild with four years in Sydney followed by a transfer to the Denver office in 1994. By this stage the work had become more international with greater exposure to people and business practices and it was during this time that you come to accept that the quality of education received at UWA was on a par with anything I might have found anywhere else in the world.

Resource Capital Funds

Management Pty Ltd ABN: 25 098 091 715

Level 3

24 Kings Park Road

West Perth WA 6005

Postal Address:

PO Box 524 West Perth WA 6872

Telephone: (08) 9485 2770

Facsimile: (08) 9485 2779

e-mail: [email protected] www.resourcecapitalfunds.com

53

2

In 1997 I was asked to create Resource Capital Funds (“RCF”) with Rothschild sponsorship. Resource Capital Funds started life as a small Private Equity Fund integrated into the larger Rothschild activities in the Resources sector. The role required extensive travel primarily in North America raising funds for the business. In this capacity I was exposed to University endowments, Foundations, Charitable Trusts and Family offices. These are the institutional portfolio managers that were at the forefront of investing in alternative assets globally using the endowment model that has resulted in superior financial outcomes for their respective institutions. RCF separated from Rothschild in 2001 and have been independent since that date.

RCF as a Private Equity firm investing in global industry like resources is a business that requires very diverse skill sets ranging from a deep knowledge of the industry including operations, forms of finance debt and equity, strategy, capacity to manage human resource at the level of Boards and the most senior executive, commodity market risk and in some cases marketing strategies, country risk assessment to the plain old capacity of negotiating a transaction using various structures and styles and in vastly different circumstances and sometimes cultures. In all case making decisions as a principal not an agent.

RCF has to date raised approximately US$2 billion from over 100 institutional investors and has delivered returns over the last 12 years that is in the top quartile of all Private Equity managers globally.

It has invested in approximately 100 companies that have had projects in greater than 35 different countries involving more than 30 different commodities. The companies have been both private and public listed on 8 different stock exchanges.

One of the most interesting experiences I had was a request to attend a meeting of the Trustees of one of our investors the Alfred P Sloan Foundation in New York (www.sloan.org) to discuss the state of the commodity market. This was in 2006 and there was nothing unusual in this request. I was required to be available for 20 minutes at most. Sitting in the reception I pick up the annual report of the Foundation and was reading through it and arrived at the page listing the Trustees. I am sure everyone remembers Shapiro and Shapiro. Well one Professor Shapiro was a Trustee of this Foundation and was present in this meeting. Here I am needing to watch my Supplies and Demands with Professor Shapiro!!! The discussion lasted close to an hour and did cover a discussion of the supply and demand for commodities and the impacts of emerging demand from China. The capacity to talk about the experience of RCF in China building a coal mine and relating that to global investment themes was only possible with the economics education I received at UWA.

Thank you

James McClements Managing Partner

54

R G Casey Building, Barton ACT 0221 www.dfat.gov.au Telephone: 02-62611111

File Number: 0000

27 July 2011

Prof Kenneth W Clements


Head of Economics

MBDP 251

35 Stirling Highway


Dear Professor Clements

Thank you for this opportunity to write about my UWA Economics Degree, and the career it

has led to. I completed a Bachelor of International Business Economic with Honours under

your supervision in 2002. My thesis was on ‘The Economic Effects of Transnational Money

Laundering.’ My other degree was a Bachelor of Arts, majoring in Japanese and Politics.

Shortly after completing my studies, I joined the Department of Foreign Affairs and Trade

(DFAT) in Canberra. I was posted to the Australian Embassy in Belgrade, Serbia, from 2004

to 2007. The high academic standard of the Department of Economics stood me in good

stead throughout my work. In Belgrade, for instance, I analysed the transitional economies of

Serbia, Romania and other countries in the region with a particular focus on trade and

investment opportunities for Australian companies.

On my return to Australia, I worked as the trade and economic specialist of the Japan Section

in DFAT. This involved working on one of Australia’s premier economic relationships – on

issues as diverse as beef exports and infrastructure financing. One of my most interesting

tasks was to produce regular analytical papers for Trade Ministers on aspects of Australia’s

trade and economic relationship with Japan. The topics I researched included Japanese

investment into Australia’s resources industry and Japan’s role in Asian regional production

networks.

Last year, I undertook a 5-week trip to Antarctica. Of course, I wasn’t sent to Antarctica as

an economist, but even there, amid the snowy and deserted plains, being rostered to the vast

kitchen of Casey Station required careful allocation of limited resources to maximise utility…

57

R G Casey Building, Barton ACT 0221 www.dfat.gov.au Telephone: 02-62611111

From January next year, I will begin another posting as First Secretary at the Australian

Embassy in Moscow. Russia’s hosting of the Asia-Pacific Economic Cooperation (APEC)

meetings in 2012 will involve a significant amount of work on Australia’s priorities in

regional economic reform, trade facilitation and liberalisation.

A UWA economics degree has not only enabled me to get my dream job, but also taught me

analytical and economic skills which I apply every day in my work. It is a degree which

strikes the perfect balance between the humanities and the sciences, a degree which expands

one’s capacity to think in the broadest sense of the word. I can strongly recommend it to

everyone.

In terms of anecdotes, I recall being told off – quite rightly but also quite loudly – by one of

my lecturers for doodling during class. Nonetheless, those doodles continued and grew into

sentences, then sketches, then plays. My collection of neo-classical dramas, Altar of the

Muses, was published in the United Kingdom last year.

I would like to take this opportunity to thank my academic mentors and lecturers at UWA,

particularly you and Associate Professors McLeod and Siddique.

Yours sincerely

Peter Nagy

Executive Officer – Russia

Europe Division

Department of Foreign Affairs and Trade

58

Dear future Economics Honours students,

When choosing a degree at the completion of high school, my Mum suggested

Economics, “You like economics, and you did well at it throughout school”. My

response was “No way! I am happy knowing what I know, I don’t want to study

economics at university”. So I began engineering. Not enjoying physics and calculus

units as much as I had anticipated I quickly replaced them with economics electives.

Finding these units the most stimulating I proceeded to change my course four times,

and with each switch I incorporated a little more economics until I settled on the

Bachelor of Economics.

I chose to focus on the core economic theory (Macro and Microeconomics) and

Quantitative economics, as I had always liked mathematics. I enjoyed these majors

for their level of rigor and their applications to policy, which have the power to

influence the prosperity of all people. Hence at the end of my Bachelor’s degree I was

still hungry for more economics, so enrolled in Honours and graduated with First

Class in 2010. See, mums are always right!

Whilst the year was the most challenging of my university career it was certainly the

best! I took the Economics major and electives in International Finance and Topics in

Economic Analysis. These were fascinating, and I felt I was learning material that

helped me to understand the world around me, whilst also getting a glimpse of just

how huge the world is! By far the hardest part of the year is the dissertation! For me,

completing the thesis felt like a maze, except I wasn’t just trying to find the end, I had

to find where to start first! There are stumbling blocks along the way but your

supervisor is there to assist you overcome these. This is the greatest privilege of being

an honours student, working closely with academics that are expert in their field and

full of character! I was lucky enough to be supervised by Professor Ken Clements,

whose fantastic guidance allowed me to complete a paper on the pricing of illicit

drugs in Australia.

Completing honours has opened career opportunities for me with the Reserve Bank,

State government departments and consulting firms. Although it is my hope to study

postgraduate medicine the honours year was a great learning curve during which I

acquired invaluable research, analytical and problem solving skills. It has taught me

to think broadly when looking for solutions to problems. I have made great friends as

we worked together and supported each other to make it to the end! Sometimes we’d

find ourselves applying the material we’d learned in class to answer questions like

“How come the coffee at the best café off campus suddenly went downhill?”

I strongly advise you take up the Economics Honours course at UWA. It is a great

opportunity to grow personally and increase your career and future study options.

Susan Pen

59

2/28 Porter Street

GWELUP WA 6018

25 August 2011



Head of Economics

Business School


35 Stirling Highway

CRAWLEY WA 6009

Dear Ken

Thank you for the opportunity to write a letter for your book on UWA economics

honours graduates.

I completed the honours year as a full-time mature age student in 1981. This followed

completion of a Bachelor of Economics on a part-time basis.

I found the return to study full-time both invigorating and challenging. The class of

’81 had some very bright and talented students and this stimulated lively discussion

and debate in the lecture room and the library (sorry about the noise!).

Small class numbers fostered much greater contact with lecturers, who were always

willing discuss problems and issues. I found this one of the more rewarding aspects of

the honours year.

The honours year also provided me with an opportunity to tutor undergraduates –

something I have continued to do up to the present. I have found this very gratifying

and would encourage future honours students take up tutoring opportunities if they

arise.

The honours year certainly hones your knowledge of economics, with many important

economic concepts in microeconomics and macroeconomics taken to another level in

terms of detail and understanding. In this regard, it provides an excellent preparation

for any student hoping to work in government agencies such as Commonwealth

Treasury and the Reserve Bank, where there is stiff competition for places.

The honours year for me was terrific. I have no hesitation in recommending the

experience to others.

Kindest regards

John Roberts

60

of 1

7 July 2011

Kenneth W Clements


Head of Economics

University of Western Australia

35 Stirling Highway

Crawley, WA 6009

Dear Professor Clements,

UWA Economics Honours

Thank you for your invitation to contribute towards this project. I graduated from

UWA with First Class Honours in both Economics and Law. My economics honours

dissertation was titled 'The Implications of Australian Government Policy on the Labour

Market Performance of Refugees and Asylum Seekers'.

I thoroughly enjoyed my economics honours year at UWA. Although I am currently

pursuing a career in law, I still have a strong passion for economics and think that it

provides many advantages to people wanting to engage in debating complex public

policy and market issues.

My own experience is that an economics degree offers a wide range of career options,

though unfortunately, the vast majority of positions are not located in Perth. Even so,

the standalone strength of an economics degree was demonstrated during job interviews

with some of the major law firms in Perth, many of whom questioned why I was not

instead pursuing a career in economics.

I would, without hesitation, recommend an economics major to new undergraduate

students. I think that many people do not realise that they are affected by and involved

in economic theories everyday. Examples range from the trivial, such as why 2 litres of

milk costs less per litre than 300 mL, to important decisions about future expectations

on mortgage interest rates. Having a good understanding of economic principles helps

explain and simplify human behaviour.

I hope, moving forward from 2012, that UWA will be able to continue to offer excellent

teaching in economics as part of the university's new course structure.

Kind regards,

David Shackles

Associate to the Hon Justice Beech

Supreme Court of Western Australia

Barrack Street PERTH WA 6000

61

Hi Ken,

My career since Economics Honours has led me to management consulting. I joined the Air Force

where I was promoted to Squadron Leader and eventually headed a group of 25 internal

management consultants (receiving a Chief of Air Force commendation for my leadership). During

that time I completed my MBA. I left the Air Force in 2001 and joined a large national consulting

firm.

I have run my own consulting business Intelligent Edge for the last four years and a joint consulting

business 3Pillars Asia Pacific for the past three years. 3Pillars engages about 15-20 consultants across

Australia and our annual turnover has grown over 250% from FY2009/10 to FY2010/11 (now we just

need our profitability to increase by the same amount!). I recently was awarded my PhD through

ANU in IT project evaluation (and graduate next month).

Over the last few years I have consulted to Navy (Chief of Navy and his advisory committee), HBF,

ARG, WA Government, Western Power, CBH Group and many other large companies. I specialise in

strategy, performance measurement and project governance. While I haven’t directly applied my

economics in a work context the degree provided me with a strong foundation for thinking in a

structured way.

All the best for your book.

Kind regards,

Graeme Thomas

Director

3Pillars Asia Pacific

62

Winthrop Professor K.W. Clements

Head, Economics Discipline

Business School


35 Stirling Highway

CRAWLEY WA 6009

Australia

Professor Clements,

Thank you for your recent invitation to write some reflections on my year as an honours student in

the Economics Department at UWA.

On a personal level, the honours year was a difficult year for me; and I will always be grateful for the

support provided throughout the year by my honours supervisor, Professor Paul Miller. In general,

the level of care and commitment of supervisors to their honours students is something that makes

the honours year a very special academic experience, and something that distinguished the year

from other undergraduate experiences.

On the academic front, the year was challenging, stressful at times, but ultimately

rewarding. Possibly the most important thing I learnt during the year was the value of paying

attention to detail and working diligently at a problem. Completing an honours dissertation is a

unique experience in undergraduate life, and it is an experience you share with your

classmates. Although many of the friends I made during the year now work across the globe, we

remain good friends, and keep in regular contact.

Overall, my honours year was a very rewarding experience, and one that I will always remember.

Kind regards,

Mian Er Derby Voon

63

Dr Andrew Williams

Assistant Professor of Economics

Dear Ken,

I found my Honours year at UWA to be a pivotal experience for me. At the time, I

was working two part-time jobs, and trying to write my thesis in the second half of the

year. It was unquestionably a difficult year for me, but the experience taught me many

things that have subsequently served me well. Perseverance, attention to detail, time

management, patience and satisfaction are words that immediately spring to mind, but

I’m sure I could add many others.

If you are inherently a curious, inquisitive person, the Honours programme is a

wonderful experience. For the first time in your life, you have the opportunity,

through your thesis, to make a contribution (small though it may seem) to the study of

economics. To investigate and discover something that no one has previously looked

at gives a definite sense of satisfaction and achievement, and gives you the confidence

to move forward in your career, wherever that may be. In my case, it meant a return to

the university a couple of years later, and an enrolment in the PhD programme.

Without my Honours year, I would not have believed that I had the capabilities to

attempt (let alone receive) my doctorate.

The Honours programme also gave me the opportunity, whilst studying, to become a

tutor for the first year economics units. Given that I am now a lecturer at UWA, this

experience was obviously very important for me. However, wherever you ultimately

gain employment, the experience of tutoring in the department will be of enormous

benefit to you, because it dramatically improves your communications skills. The

Economics department at UWA has long championed the use of Honours students as

casual tutors, and is to be commended for this.

My advice to anyone contemplating doing Honours at UWA? Do it. When thinking

about your Honours thesis, make sure you pick an area of economics that interests

you, and get stuck into it. And ask about tutoring. It looks good on your CV, you

learn a lot, and it pays immeasurably better than pulling beers or scrubbing toilets.

Regards,

Andrew Williams

BUSINESS SCHOOL

ECONOMICS

MBDP 251

35 Stirling Highway


(61 8) 6488 3859

[email protected]

64


35 Stirling Highway

Crawley WA 6009

Perth, Australia

14 August 2011

Dear reader,

I studied economics at the University of Western Australia for five years, graduating

with honours in 2007. After completing my law degree in 2009, I went on to a

graduate position in the economic policy department of the Reserve Bank of Australia.

During my time with the RBA I have researched and reported on sovereign debt

developments in Europe and helped monitor current economic conditions through

liaison with Australian businesses.

I first became interested in pursuing a career at the RBA after attending a

presentation by an RBA representative whilst studying Monetary Economics under

Professor Ken Clements. I later went on to complete the RBA’s summer cadetship

programme in 2008 and was subsequently offered a position as a graduate economist.

My economics degree provided me with a sound grounding in macroeconomic theory.

Even more valuable was the knowledge, experience and technical skills which I

developed during my honours year and through my work as a tutor for the economics

department.

During my time at UWA I made many close friends, some of which also went on to

pursue a career with the RBA, or with other well regarded institutions in Sydney. This

network of friends helped to ease my transition to life in Sydney.

Overall, my time spent studying at UWA included some of the best years of my life

and provided me with many career opportunities.

Sincerely

Nina Yiannopoulos

65

TABLE A2.2 WHERE ARE THEY NOW?

Name [Year of graduation]

Position/Current Employer

1. Ainsworth, A. [2001] Finance Lecturer, University of Sydney

2. Axworthy, S. [2005] Consultant, Bain and Company

3. Bartels, C. [2010] Business Analyst, Momentum Partners

4. Bensley, E. [2008] Business Analyst, McKinsey and Company

5. Borozdin, R. [1987] Manager, WA Dept of Mineral and Petroleum Resources

6. Bothe, R. [2001] Manager, Sirona Capital

7. Boulton, L.F. [1982] RBA, Sydney

8. Branston, C.B. [2001] Associate Director, Gresham Advisory Partners

9. Carter, L. [2004] RBA, Sydney

10. Ceber, A. [2004] Microeconomic Analysis Team, World Bank, Jakarta

11. Chan, A. [2006] Economist, Moody's Analytics, Sydney

12. Chia, G. [2006] Woodside

13. Chong, P. [1986] Senior Executive, KPMG

14. Christie, V. [1988] Senior Representative, RBA Perth

15. Church, L. [2000] Wesfarmers

16. Colegrave, A. [2005] Academic, Southern Cross University

17. Connolly, L. [2007] Senior Consultant, PwC

18. Crombie, J. [2005] ACIL Tasman, Perth

19. Davies-Slate, S. [2005] Policy Research Officer, WA Dept of Treasury and Finance

20. Davis, B. [2008] ACCC, Canberra

21. Dharmapala, D. [1991] Lecturer in Law, University of Illinois

22. Fabo, J. [1998] Head of International Financial Markets, RBA 23. Fogarty, J. [2000] Assistant Professor, UWA 24. Galvin, A. [1998] RBA, Sydney

25. Gan, B. [1995] Lecturer, University of NSW

26. Garner, M. [2008] RBA, Sydney

27. Gaturu, S. [2005] Northern Territory Treasury

28. Gracey, M. [1991] Principal, Scottish Equity Partners

29. Gray, C. [2004] Business Improvement Manager, iiNet

30. Halperin, D. [2010] RBA, Sydney

31. Hester, S.M. [1991] Senior Research Fellow, UNE

32. Horton, T. [1985] Former Dean of the UWA Business School (nee Cumming)

33. Jones, C. [2008] PhD Student, New York University

34. Kaye, A. [2007] Analyst, Macquarie Bank, Research

35. Kenny, T. [1988] Senior Economist, ANZ

36. Kerr, O. [2003] PwC Consulting, Perth

37. Kerr, P. [1992] Perth Bureau Chief, The Australian Financial Review

38. Knezevic, M. [2004] RBA, Sydney

39. Kofanova, A. [2008] RBA, New York

40. Laing, E. [2007] RBA, Perth

41. Lane, K. [2008] RBA, Sydney

42. Lapham, K. [2003] Manager, Deloitte Access Economics

43. Layman, B. [1991] WA Department of Treasury and Finance

44. Lewis, E. [1995] Head of Strategy and Management, IAG Asset Management

45. Li, I. [2007] Assistant Professor, UWA and PhD student, Curtin University


66

TABLE A2.2 (continued) WHERE ARE THEY NOW?

Name [Year of graduation]

Position/Employer

46. Maesepp, M. [2007] Federal Treasury

47. McCarthy, L. [2001] Senior Research Analyst, Challenger Financial

48. McClements, J. [1984] Managing Partner, Resource Capital Funds Management P/L

49. McDonagh, C. [2005] Senior Commercial Analyst, Rio Tinto Iron Ore

50. Miller, S. [1982] Managing Director, BlackRock

51. Moore, G. [1986] Coordinator of Economics, Notre Dame University

52. Nagy, P. [2002] Executive Officer - Russia, DFAT

53. Nesdale, G. [1994] Partner, Time Square Capital, New York

54. Nicolaou, J. [1997] Chief Economist, CCI WA

55. Nugraweni, N. [2004] Department of Premier and Cabinet, Victoria

56. Ong, Z. [2003] Owner, Alyka Web Design

57. Ossolinski, C. [2002] Economist, RBA

58. Parameswaran, G. [2006] PhD student, Princeton University

59. Pearce, D. [1985] Executive Director, CIE, Canberra

60. Pen, S.E. [2010] Casual Tutor, UWA

61. Poon, A. [2010] Master of Actuarial Statistics Student, ANU

62. Roberts, J. [1981] Principal Economist, GHD, Perth

63. Rummery, S. [1988] Senior Director of Economics, NT Treasury

64. Russell, W.R. [1985] Senior Lecturer in Economic Studies, University of Dundee

65. Shackles, D. [2006] Associate to the Hon Justice Beech

66. Shackles, E. [2004] Secondary Economics Teacher, Ellenbrook College

67. Stefansson, E. [2009] Financial Analyst, Fokus Bank, Norway

68. Stephens, B. [2009] Economist, Deloitte Access Economics, Melbourne

69. Stewart, T. [1981] Chief Global Strategist, Fortress Investment Group, New York

70. Su, P. [2005] Manager, RAM Rating Services, Malaysia

71. Thomas, G. [1993] Director, 3Pillars Asia Pacific

72. Thompson, C. [1996] RBA, Sydney

73. Vavakis, L. [2003] Federal Treasury, LSE and Masters student

74. Verani, S. [2004] Board of Governors of Federal Reserve Board, Washington, DC

75. Voon, D. [2003] Research Assistant, Department of Economics, Curtin University

76. Wallwork, D. [1986] Quantitative Financial Analyst, WA Treasury Corporation

77. Williams, A. [1996] Lecturer in Economics, UWA

78. Wills-Johnson, N. [1994] Senior Consultant, ACIL Tasman, Perth

79. Wong, R. [1998] Senior Analyst, The Allen Consulting Group, Melbourne

80. Wright, D. [1995] Owner, Performance on Hand, Perth 81. Yoon, G. [2003] Associate at Gresham Partners, Perth 82. Yiannopoulos, N. [2007] RBA, Sydney 83. Zani, C. [2000] European Regional Finance Manager, Jaguar Land Rover

67

References

Alexander, F. (1963). Campus at Crawley. F. W. Cheshire, Melbourne, for UWA Press. Appleyard, R. T. (2010). “Power and Influence of the Business and Law Faculties on the

Administration and Governance of the State, and in the Private Sector.” Forthcoming in the 2011 University of Western Australia Centennial Publication.

Lourens, R. (1988), “The University and Commerce.” In B. K. de Garis (Ed.), Campus in the

Community: The University of Western Australia, 1963-1987. UWA Press: Nedlands. Pp.15-28.

McLure, M. (2011). “Thirty Years of Economics: UWA and the WA Branch of the Economic

Society from 1963 to 1992.” History of Economics Review 54 (Summer). Pp. 70-91. Petridis, R. (2011). "Depression, War and Recovery: Western Australian Economics, 1935 to

1963." History of Economics Review 54 (Summer). Pp. 45-69. Treloar, D. (1988). “Economics and Commerce.” In B. K. de Garis (Ed.), Campus in the

Community: The University of Western Australia, 1963-1987. UWA Press: Nedlands. Pp.263-80.

Vargovic, C. A. (1956). A Survey of Structural Changes in the Western Australian Economy:

A Statistical Interpretation. UWA Press: Nedlands. Weber, E.J. (2011). "Wilfred E.G. Salter: The Merits of a Classical Economic Education"

History of Economics Review 54 (Summer). Pp. 111-130.

68

69

ECONOMICS DISCUSSION PAPERS

2010

DP NUMBER AUTHORS TITLE

10.01 Hendry, D.F. RESEARCH AND THE ACADEMIC: A TALE OF TWO CULTURES

10.02 McLure, M., Turkington, D. and Weber, E.J. A CONVERSATION WITH ARNOLD ZELLNER

10.03 Butler, D.J., Burbank, V.K. and

Chisholm, J.S.

THE FRAMES BEHIND THE GAMES: PLAYER’S PERCEPTIONS OF PRISONER’S DILEMMA, CHICKEN, DICTATOR, AND ULTIMATUM GAMES

10.04 Harris, R.G., Robertson, P.E. and Xu, J.Y. THE INTERNATIONAL EFFECTS OF CHINA’S GROWTH, TRADE AND EDUCATION BOOMS

10.05 Clements, K.W., Mongey, S. and Si, J. THE DYNAMICS OF NEW RESOURCE PROJECTS A PROGRESS REPORT

10.06 Costello, G., Fraser, P. and Groenewold, N. HOUSE PRICES, NON-FUNDAMENTAL COMPONENTS AND INTERSTATE SPILLOVERS: THE AUSTRALIAN EXPERIENCE

10.07 Clements, K. REPORT OF THE 2009 PHD CONFERENCE IN ECONOMICS AND BUSINESS

10.08 Robertson, P.E. INVESTMENT LED GROWTH IN INDIA: HINDU FACT OR MYTHOLOGY?

10.09 Fu, D., Wu, Y. and Tang, Y. THE EFFECTS OF OWNERSHIP STRUCTURE AND INDUSTRY CHARACTERISTICS ON EXPORT PERFORMANCE

10.10 Wu, Y. INNOVATION AND ECONOMIC GROWTH IN CHINA

10.11 Stephens, B.J. THE DETERMINANTS OF LABOUR FORCE STATUS AMONG INDIGENOUS AUSTRALIANS

10.12 Davies, M. FINANCING THE BURRA BURRA MINES, SOUTH AUSTRALIA: LIQUIDITY PROBLEMS AND RESOLUTIONS

10.13 Tyers, R. and Zhang, Y. APPRECIATING THE RENMINBI

10.14 Clements, K.W., Lan, Y. and Seah, S.P. THE BIG MAC INDEX TWO DECADES ON AN EVALUATION OF BURGERNOMICS

10.15 Robertson, P.E. and Xu, J.Y. IN CHINA’S WAKE: HAS ASIA GAINED FROM CHINA’S GROWTH?

10.16 Clements, K.W. and Izan, H.Y. THE PAY PARITY MATRIX: A TOOL FOR ANALYSING THE STRUCTURE OF PAY

10.17 Gao, G. WORLD FOOD DEMAND

10.18 Wu, Y. INDIGENOUS INNOVATION IN CHINA: IMPLICATIONS FOR SUSTAINABLE GROWTH

10.19 Robertson, P.E. DECIPHERING THE HINDU GROWTH EPIC

10.20 Stevens, G. RESERVE BANK OF AUSTRALIA-THE ROLE OF FINANCE

70

10.21 Widmer, P.K., Zweifel, P. and Farsi, M. ACCOUNTING FOR HETEROGENEITY IN THE MEASUREMENT OF HOSPITAL PERFORMANCE

10.22 McLure, M. ASSESSMENTS OF A. C. PIGOU’S FELLOWSHIP THESES

10.23 Poon, A.R. THE ECONOMICS OF NONLINEAR PRICING: EVIDENCE FROM AIRFARES AND GROCERY PRICES

10.24 Halperin, D. FORECASTING METALS RETURNS: A BAYESIAN DECISION THEORETIC APPROACH

10.25 Clements, K.W. and Si. J. THE INVESTMENT PROJECT PIPELINE: COST ESCALATION, LEAD-TIME, SUCCESS, FAILURE AND SPEED

10.26 Chen, A., Groenewold, N. and Hagger, A.J. THE REGIONAL ECONOMIC EFFECTS OF A REDUCTION IN CARBON EMISSIONS

10.27 Siddique, A., Selvanathan, E.A. and Selvanathan, S.

REMITTANCES AND ECONOMIC GROWTH: EMPIRICAL EVIDENCE FROM BANGLADESH, INDIA AND SRI LANKA

71


2011

DP NUMBER AUTHORS TITLE

11.01 Robertson, P.E. DEEP IMPACT: CHINA AND THE WORLD ECONOMY

11.02 Kang, C. and Lee, S.H. BEING KNOWLEDGEABLE OR SOCIABLE? DIFFERENCES IN RELATIVE IMPORTANCE OF COGNITIVE AND NON-COGNITIVE SKILLS

11.03 Turkington, D. DIFFERENT CONCEPTS OF MATRIX CALCULUS

11.04 Golley, J. and Tyers, R. CONTRASTING GIANTS: DEMOGRAPHIC CHANGE AND ECONOMIC PERFORMANCE IN CHINA AND INDIA

11.05 Collins, J., Baer, B. and Weber, E.J. ECONOMIC GROWTH AND EVOLUTION: PARENTAL PREFERENCE FOR QUALITY AND QUANTITY OF OFFSPRING

11.06 Turkington, D. ON THE DIFFERENTIATION OF THE LOG LIKELIHOOD FUNCTION USING MATRIX CALCULUS

11.07 Groenewold, N. and Paterson, J.E.H. STOCK PRICES AND EXCHANGE RATES IN AUSTRALIA: ARE COMMODITY PRICES THE MISSING LINK?

11.08 Chen, A. and Groenewold, N. REDUCING REGIONAL DISPARITIES IN CHINA: IS INVESTMENT ALLOCATION POLICY EFFECTIVE?

11.09 Williams, A., Birch, E. and Hancock, P. THE IMPACT OF ON-LINE LECTURE RECORDINGS ON STUDENT PERFORMANCE

11.10 Pawley, J. and Weber, E.J. INVESTMENT AND TECHNICAL PROGRESS IN THE G7 COUNTRIES AND AUSTRALIA

11.11 Tyers, R. AN ELEMENTAL MACROECONOMIC MODEL FOR APPLIED ANALYSIS AT UNDERGRADUATE LEVEL

11.12 Clements, K.W. and Gao, G. QUALITY, QUANTITY, SPENDING AND PRICES

11.13 Tyers, R. and Zhang, Y. JAPAN’S ECONOMIC RECOVERY: INSIGHTS FROM MULTI-REGION DYNAMICS

11.14 McLure, M. A. C. PIGOU’S REJECTION OF PARETO’S LAW

11.15 Kristoffersen, I. THE SUBJECTIVE WELLBEING SCALE: HOW REASONABLE IS THE CARDINALITY ASSUMPTION?

11.16 Clements, K.W., Izan, H.Y. and Lan, Y. VOLATILITY AND STOCK PRICE INDEXES

11.17 Parkinson, M. SHANN MEMORIAL LECTURE 2011: SUSTAINABLE WELLBEING – AN ECONOMIC FUTURE FOR AUSTRALIA

11.18 Chen, A. and Groenewold, N. THE NATIONAL AND REGIONAL EFFECTS OF FISCAL DECENTRALISATION IN CHINA

11.19 Tyers, R. and Corbett, J. JAPAN’S ECONOMIC SLOWDOWN AND ITS GLOBAL IMPLICATIONS: A REVIEW OF THE ECONOMIC MODELLING

11.20 Wu, Y. GAS MARKET INTEGRATION: GLOBAL TRENDS AND IMPLICATIONS FOR THE EAS REGION

72

11.21 Fu, D., Wu, Y. and Tang, Y. DOES INNOVATION MATTER FOR CHINESE HIGH-TECH EXPORTS? A FIRM-LEVEL ANALYSIS

11.22 Fu, D. and Wu, Y. EXPORT WAGE PREMIUM IN CHINA’S MANUFACTURING SECTOR: A FIRM LEVEL ANALYSIS

11.23 Li, B. and Zhang, J. SUBSIDIES IN AN ECONOMY WITH ENDOGENOUS CYCLES OVER NEOCLASSICAL INVESTMENT AND NEO-SCHUMPETERIAN INNOVATION REGIMES

11.24 Krey, B., Widmer, P.K. and Zweifel, P. EFFICIENT PROVISION OF ELECTRICITY FOR THE UNITED STATES AND SWITZERLAND

11.25 Wu, Y. ENERGY INTENSITY AND ITS DETERMINANTS IN CHINA’S REGIONAL ECONOMIES

73


2012

DP NUMBER

AUTHORS TITLE

12.01 Clements, K.W., Gao, G., and Simpson, T. DISPARITIES IN INCOMES AND PRICES INTERNATIONALLY

12.02 Tyers, R. THE RISE AND ROBUSTNESS OF ECONOMIC FREEDOM IN CHINA

12.03 Golley, J. and Tyers, R. DEMOGRAPHIC DIVIDENDS, DEPENDENCIES AND ECONOMIC GROWTH IN CHINA AND INDIA

12.04 Tyers, R. LOOKING INWARD FOR GROWTH

12.05 Knight, K. and McLure, M. THE ELUSIVE ARTHUR PIGOU

12.06 McLure, M. ONE HUNDRED YEARS FROM TODAY: A. C. PIGOU’S WEALTH AND WELFARE

12.07 Khuu, A. and Weber, E.J. HOW AUSTRALIAN FARMERS DEAL WITH RISK

12.08 Chen, M. and Clements, K.W. PATTERNS IN WORLD METALS PRICES

12.09 Clements, K.W. UWA ECONOMICS HONOURS

12.10 Golley, J. and Tyers, R. CHINA’S GENDER IMBALANCE AND ITS ECONOMIC PERFORMANCE

12.11 Weber, E.J. AUSTRALIAN FISCAL POLICY IN THE AFTERMATH OF THE GLOBAL FINANCIAL CRISIS

12.12 Hartley, P.R. and Medlock III, K.B. CHANGES IN THE OPERATIONAL EFFICIENCY OF NATIONAL OIL COMPANIES

12.13 Li, L. HOW MUCH ARE RESOURCE PROJECTS WORTH? A CAPITAL MARKET PERSPECTIVE

12.14 Chen, A. and Groenewold, N. THE REGIONAL ECONOMIC EFFECTS OF A REDUCTION IN CARBON EMISSIONS AND AN EVALUATION OF OFFSETTING POLICIES IN CHINA

12.15 Collins, J., Baer, B. and Weber, E.J. SEXUAL SELECTION, CONSPICUOUS CONSUMPTION AND ECONOMIC GROWTH

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