In the Australian academic system, most degrees are taught as a 3-year program.
Some students are then invited to take an honours year, during which they will take postgraduate courses and undertake a research project.
That I earned "first class" means I earned a distinction for my project and maintained a distinction average for my coursework.
The difference with the US system is that the honours year is meant to prepare you to move directly into a PhD without needing further coursework. In the US system, when you take a PhD you do some coursework first and can terminate early with a Masters.
Some students are then invited to take an honours year, during which they will take postgraduate courses and undertake a research project.
That I earned "first class" means I earned a distinction for my project and maintained a distinction average for my coursework.
The difference with the US system is that the honours year is meant to prepare you to move directly into a PhD without needing further coursework. In the US system, when you take a PhD you do some coursework first and can terminate early with a Masters.