If you're looking to develop your career in economics or econometrics this course provides you with analytical and technical skills you need for the profession, as well as a solid grounding in commerce. The course will enable you to build your knowledge in one of the following specialisations: Applied Econometrics; Applied Economics and Econometrics or Business Economics.
You will engage in a comprehensive theoretical and practical curriculum across your chosen field and develop high-level expertise in applied economic and econometric tools.
The program also gives you the opportunity to undertake independent research in your chosen specialisation.
- Applied econometrics Your qualification will be a Master of Applied Econometrics
The specialisation in applied econometrics provides specialist knowledge, tools and skills to enable econometric and statistical analyses required in the business, economics and finance sectors.
- Applied economics and econometrics Your qualification will be a Master of Applied Economics and Econometrics
The specialisation in applied economics and econometrics provides specialist knowledge, tools and skills in economics and econometrics to address important economic policy questions.
- Business economics Your qualification will be a Master of Business Economics
The specialisation in business economics provides an advanced knowledge of the theories explaining and analysing economic policies - focusing on how individuals, households, firms and governments interact and how economies work, with an emphasis on economic regulation and policy.
The course is structured in three parts. Part A. Advanced preparatory, Part B. Mastery knowledge and Part C. Application studies All students complete Part B. Depending on prior qualifications, you may receive credit for Part A or Part C or a combination of the two.
Part A. Advanced preparatory These studies will introduce you to Economics and Econometrics at advanced undergraduate and graduate level. They are intended for students whose previous qualification is not in a cognate field (that is, not in a field likely to prepare them for advanced study in this field). Students admitted to the course, who have a recognised degree or a graduate certificate in a cognate discipline will receive credit for this part.
Part B. Mastery knowledge These units will develop your capacity as a critical and creative professional who is able to apply your knowledge of a specialised area to provide discipline based solutions.
Part C. Application studies This will enable you to further develop your knowledge of your specialisation, or more broadly, or alternatively to select any units from across the university in which you are eligible to enrol. Some students use these electives units to provide a research pathway towards a Doctor of Philosophy course.
Monash Business School is home to one of the leading departments of Economics.
Since the 1970s, the term "Monash Economics" has been widely used to describe the liveliness and rigour inherent in our activities. We have demonstrated a strong track-record of excellence over the last 40 years. Our excellent international reputation is supported by our ranking or rating of:
- a rating of 4 (which is above world standard) in the latest Excellence in Research for Australia (ERA) report for Economics
- no. 1 in the Asia-Pacific region for cognitive and behavioural economics; and development economics (RePEc)
The Department boasts more than 50 tenured economists undertaking work in virtually all major fields of economics.
Leading research and reputation We have a vibrant research atmosphere in both theoretical and applied economics. Our particular strengths lie in development economics, behavioural and experimental economics, and macroeconomics. However, even within these broad areas, there is considerable heterogeneity in topics and techniques used.
Members of the department work individually and in collegiate teams, within the department and with other units of the Business School. A number of department members work collaboratively with colleagues in other universities, both in Australia and internationally.
Our Department also maintains particularly strong ties with the Centre for Development Economics and Sustainability, the Centre for Health Economics and the Monash Sustainability Institute. We have established other collaborative networks such as the South Asia Research Network (SARN) and the Monash Experimental Research Insights Team (MERIT), which further ensure the positive impact of our high calibre research.
Members of the Department have a distinguished publication record in numerous leading field journals as well as general interest journals, including the profession's most prestigious outlets. We also house excellent facilities. Our Monash Laboratory for Experimental Economics (MonLEE) laboratory enables us to complement field and artefactual field experiments with lab based activities.
Excellence in economic education Economics provides training in logical thought and analysis which can be applied widely in every-day decision making, not just to matters that are usually labelled 'economic'. It was recognition of the meteoric rise of a new grouping of economists who emphasised the influence of economic policies on a rapidly changing world.
Continuing in this spirit, our Department's overarching goal is to prepare our students with a range of career options that are readily adapted to the issues of the day. These may be positions in industry, government, or in non-government and international organisations.
We achieve this by providing training in logical thought and flexible analytical skills which can be applied widely in every-day decision making – not just to matters which are typically labelled 'economics'.