Checkout the Masters in Economics in Australia....
Mar 24, 2025 12:10:20
University of Melbourne — Master of Economics
Australian National University (ANU) — Master of Economics
University of Sydney — Master of Economics
Monash University — Master of Applied Economics and Econometrics
University of New South Wales (UNSW) — Master of Economics
University of Queensland (UQ) — Master of Economics
Macquarie University — Master of Applied Economics
University of Western Australia (UWA) — Master of Economics
A recognized bachelor's degree (preferably in economics, commerce, mathematics, or related fields)
Minimum GPA (varies by university, usually 60-70%)
English language proficiency (IELTS 6.5 or above / TOEFL equivalent)
Some universities may require GRE (optional for most Australian universities)
Typically 1.5 to 2 years (full-time)
AUD 35,000 to 50,000 per year
(Fees vary depending on the university and course structure)
Australia Awards Scholarships
Destination Australia Scholarship
University-specific scholarships:
Melbourne Graduate Scholarship
ANU College of Business and Economics International Graduate Scholarship
UNSW International Scholarships
Monash International Merit Scholarship
University of Sydney International Scholarships
After graduation, students are eligible for a Post-Study Work Visa (subclass 485) for 2-4 years
Excellent job prospects in banking, consulting, public policy, and research sectors
Economic Analyst
Policy Advisor
Data Analyst
Financial Consultant
Economist (government and private sector)
Risk Analyst
Market Researcher
Program Name: Master of Economics
Duration: 2 years (full-time)
Entry Requirements:
Bachelor's degree in economics or a related field
Minimum GPA (usually around 65–70%)
IELTS score of 6.5 overall (no band less than 6.0)
Strong background in quantitative methods
Program Highlights:
Focus on advanced economic theory, econometrics, and applied policy
Opportunity to specialize in areas like public policy, international economics, and development
Scholarships:
Melbourne Graduate Scholarship
International Graduate Research Scholarship
Faculty of Business and Economics Graduate Scholarship
Program Name: Master of Economics
Duration: 2 years (can be reduced with credit transfer)
Entry Requirements:
Undergraduate degree with significant economics component
Weighted average mark of at least 65%
IELTS score of 6.5 (minimum 6.0 in each band)
Program Highlights:
Strong research-led teaching
Advanced econometrics, micro, and macroeconomic training
Access to research projects and Australian policy research
Scholarships:
ANU College of Business and Economics Scholarship
Research School of Economics Scholarship for international students
Program Name: Master of Economics
Duration: 1.5 to 2 years (depending on prior studies)
Entry Requirements:
A relevant bachelor’s degree with a credit average (65%+)
IELTS overall score of 7.0 (minimum 6.0 in each band)
Program Highlights:
Focus on analytical and critical thinking
Specializations in econometrics, development, health economics, and environmental economics
Professional internship opportunities
Scholarships:
Sydney Scholars Awards
Faculty of Arts and Social Sciences International Scholarship
Program Name: Master of Applied Economics and Econometrics
Duration: 2 years (with an accelerated 1-year option for eligible students)
Entry Requirements:
Bachelor’s degree in economics, econometrics, or related field with at least 65% average
IELTS 6.5 (no band less than 6.0)
Program Highlights:
Emphasis on practical skills and real-world data application
Career preparation for business, banking, and public policy roles
Research thesis and capstone project options
Scholarships:
Monash International Merit Scholarship
Monash Graduate Scholarship
Program Name: Master of Economics
Duration: 2 years full-time
Entry Requirements:
Bachelor’s degree with economics or quantitative components
GPA of 4.5 on a 7-point scale
IELTS score 6.5 (no less than 6.0 in any component)
Program Highlights:
Specializations in business economics, development economics, and health economics
Research-led curriculum with real-world policy applications
Internship and industry project opportunities
Scholarships:
UQ International Scholarships
Faculty of Business, Economics, and Law International Scholarship
Program Name: Master of Economics
Duration: 1.5 to 2 years
Entry Requirements:
Recognized bachelor’s degree in economics or related field
Minimum credit average (65%)
IELTS 7.0 (6.0 in each band)
Program Highlights:
Strong quantitative, modeling, and analytical skills development
Advanced coursework and research opportunities
Professional development workshops and seminars
Scholarships:
UNSW International Scholarships
Faculty of Business International Student Scholarship
Academic transcripts
Proof of English language proficiency (IELTS/TOEFL)
Statement of purpose
Letters of recommendation
Updated CV
Passport copy
A bachelor’s degree from a recognized university.
Preferred fields: Economics, Finance, Business, Mathematics, Statistics, or other related fields.
Some universities accept students from other disciplines, but they may require completion of preparatory or bridging courses.
Minimum required GPA/percentage: usually around 65% or higher (varies by university).
IELTS: Overall 6.5 to 7.0 (no band less than 6.0)
TOEFL iBT: Minimum score between 85–100 (with specific section scores as required)
PTE Academic: Overall score between 58–68
Many universities require a strong background in mathematics or statistics.
Courses in calculus, linear algebra, and econometrics during undergraduate studies are often expected.
Not mandatory, but some universities consider relevant work experience an advantage, especially for professional-oriented or applied economics programs.
A well-written SOP explaining:
Why you want to study economics
Career goals
Why you are applying to that university
How your background makes you a good fit for the program
Usually 2 letters from academic or professional references.
Should highlight academic ability, research potential, and suitability for postgraduate study.
Detailing education, research experience, internships, work experience (if any), and extracurricular achievements.
GMAT or GRE scores (optional for most but required by some top universities if your academic background doesn’t meet direct entry criteria).
Portfolio of research work (if applying for research-oriented programs or combined coursework + research degrees).
Program Type |
Duration |
|---|---|
|
Standard Master’s in Economics (coursework) |
2 years (full-time) |
|
Accelerated Master’s (with advanced standing or prior studies in Economics) |
1.5 years (full-time) |
|
Master’s (Research-focused or combined coursework + research) |
1.5 to 2 years (full-time) |
Prior qualifications:
If you already have a relevant honors degree or strong undergraduate coursework in economics or econometrics, some universities grant credit exemptions, reducing the program to 1.5 years.
Entry Points:
Some universities have different entry points based on your academic background (for example: Entry Point 1 for non-economics background — 2 years, Entry Point 2 for partial background — 1.5 years, and Entry Point 3 for strong economics background — 1 year).
Part-time study (domestic students only):
Usually up to 4 years part-time option is available for Australian citizens or permanent residents.
International students generally must study full-time.
Research thesis track:
If you choose a thesis or research project option, this can slightly extend or intensify your study workload, though the timeline often stays within 2 years.
Most Australian universities follow a two-semester system:
Semester 1: February/March start
Semester 2: July start
Some universities also offer trimester intakes, which might allow you to complete the degree slightly faster by studying year-round.
Program: Master of Economic and Regional Development (available fully online)
Duration: 1.5 to 2 years (full-time) or up to 6 years (part-time)
Key Focus Areas:
Economic policy analysis
Regional and rural economic development
Applied economics and sustainability
Eligibility:
Bachelor’s degree in any discipline
English proficiency (IELTS 6.0 overall, no band below 5.5)
Highlights:
100% online delivery
Flexible start dates (trimesters)
Suitable for mid-career professionals or regional development specialists
Program: Master of Business (Economics major) — Fully Online
Duration: 1.5 years (full-time) or up to 6 years (part-time)
Key Focus Areas:
Advanced economic analysis
Business economics and forecasting
Policy and international economics
Eligibility:
Bachelor's degree in any field
Relevant work experience considered for non-degree holders
IELTS 6.5 (no band less than 6.0)
Highlights:
Completely online with interactive learning tools
Monthly or trimester intakes
Option to complete industry projects
Program: Master of Business Analytics (with Economics electives) — Online
While not a pure economics degree, it offers strong economics modules combined with applied data analysis.
Duration: 2 years (full-time)
Eligibility:
Bachelor's degree in business, economics, or quantitative field
IELTS 6.5 overall (no band below 6.0)
Highlights:
100% online with flexible study schedule
Focus on practical economics and forecasting models using big data
Interactive online modules, recorded lectures, and live webinars
Flexibility to study while working
Access to academic supervisors and online research support
Online exams or assessment-based evaluation
Opportunities for virtual networking and industry projects
Bachelor’s degree (in economics or a related field for direct entry)
Relevant professional experience may help in non-traditional entry
English proficiency (IELTS 6.0–7.0 depending on the institution)
Intake |
Start Months |
|---|---|
|
Semester 1 |
February / March (Main intake) |
|
Semester 2 |
July (Mid-year intake) |
|
Trimester (where available) |
March, July, and November (depends on university) |
Intake |
Application Deadline (International Students) |
|---|---|
|
Semester 1 (Feb/March) |
Between August and November of the previous year (some extend till December/January) |
|
Semester 2 (July) |
Between March and May of the same year (occasionally up to early June)** |
|
Trimester Intake (if offered) |
Generally 3–4 months prior to the trimester start date |
University |
Intake Periods |
Application Deadlines |
|---|---|---|
|
University of Melbourne |
Semester 1 & Semester 2 |
October–November (for Feb start), April–May (for July start) |
|
Australian National University (ANU) |
Semester 1 & Semester 2 |
October (for Feb start), May (for July start) |
|
University of Sydney |
Semester 1 & Semester 2 |
Mid-October (for Feb start), End of April (for July start) |
|
Monash University |
Semester 1, Semester 2, some courses have Trimester 3 |
November (for Feb start), May (for July start), September (for November start) |
|
University of Queensland (UQ) |
Semester 1 & Semester 2 |
November (for Feb start), May (for July start) |
|
UNSW Sydney |
Semester 1, Semester 2, and also Trimester 3 for some programs |
October (for Feb start), May (for July start), August (for November start) |
Always apply early to allow time for:
Visa processing (can take 6–12 weeks)
Scholarship consideration (many scholarships close before course application deadlines)
Arranging financial documents and medical checks
Some universities close applications earlier for scholarship applicants (usually 2–3 months before course application deadlines).
University |
Program Name |
Approximate Annual Tuition Fee (AUD) |
Total Program Fee (2 Years) |
|---|---|---|---|
|
University of Melbourne |
Master of Economics |
AUD 49,500 – 51,000 per year |
AUD 99,000 – 102,000 |
|
Australian National University (ANU) |
Master of Economics |
AUD 48,000 – 50,000 per year |
AUD 96,000 – 100,000 |
|
University of Sydney |
Master of Economics |
AUD 52,000 – 54,000 per year |
AUD 104,000 – 108,000 |
|
Monash University |
Master of Applied Economics and Econometrics |
AUD 47,000 – 49,000 per year |
AUD 94,000 – 98,000 |
|
University of Queensland (UQ) |
Master of Economics |
AUD 46,600 – 48,500 per year |
AUD 93,200 – 97,000 |
|
UNSW Sydney |
Master of Economics |
AUD 50,000 – 52,000 per year |
AUD 100,000 – 104,000 |
|
University of New England (UNE) |
Master of Economic and Regional Development (online option) |
AUD 30,000 – 32,000 per year |
AUD 60,000 – 64,000 |
|
University of Southern Queensland (UniSQ) |
Master of Business (Economics Major) — Online option |
AUD 32,000 – 34,000 per year |
AUD 64,000 – 68,000 |
Expense Type |
Estimated Cost per year (AUD) |
|---|---|
|
Student Services & Amenities Fee (SSAF) |
AUD 300 – 350 |
|
Health Insurance (OSHC) |
AUD 600 – 700 |
|
Accommodation (off-campus) |
AUD 12,000 – 20,000 per year |
|
Living expenses (food, transport, bills) |
AUD 10,000 – 15,000 per year |
|
Study materials & books |
AUD 500 – 1,000 |
International merit scholarships
Faculty-based scholarships
Research fellowships (for thesis-based programs)
Per year: AUD 35,000 – AUD 55,000
Total (1.5–2 years): AUD 52,000 – AUD 110,000
University of Melbourne: ~AUD 50,000 per year
University of Sydney: ~AUD 49,000 per year
ANU (Australian National University): ~AUD 47,000 per year
Monash University: ~AUD 44,000 per year
Australian student visa requirements suggest having at least AUD 24,500 per year for living expenses (accommodation, food, transport, health insurance).
Major cities like Sydney and Melbourne are more expensive; smaller cities like Adelaide, Brisbane, or Perth might be slightly cheaper.
Overseas Student Health Cover (OSHC): AUD 500–800 per year (mandatory for international students).
Application fees: AUD 100–150
Books and materials: AUD 500–1,000 per year
Universities offer partial scholarships for international students, but full scholarships are competitive.
Also check Australia Awards Scholarships or other government-supported scholarships.
The University of Melbourne
The Australian National University (ANU)
The University of Sydney
Monash University
The University of Queensland
Common eligibility requirements:
A recognized undergraduate degree (preferably in economics or related fields)
GPA equivalent to Australian requirements (usually a minimum of 60%-70%)
English proficiency test:
IELTS: 6.5 to 7.0 (no band less than 6.0)
TOEFL iBT: 85-100
Some universities may require GMAT/GRE (not mandatory everywhere but advantageous)
Work experience or research background (if applying for a research-based master’s)
Academic transcripts and degree certificates
Statement of Purpose (SOP)
Letters of Recommendation (2-3)
Resume/CV
Proof of English language proficiency
Passport copy
Portfolio (if required by specific universities)
Create an account on the university application portal.
Fill in personal, academic, and professional details.
Upload all documents.
Pay the application fee (varies between AUD 100 - 150).
Submit the application before the deadline.
Universities take 4-8 weeks to respond.
If selected, you will receive either a conditional or unconditional offer letter.
Accept the offer through the portal.
Pay the required deposit (if any) mentioned in the offer letter.
Confirmation of Enrolment (CoE) from the university.
Valid passport
Proof of financial capacity
Overseas Student Health Cover (OSHC)
English proficiency test results
Visa application form and fee
Arrange accommodation
Book travel tickets
Attend pre-departure briefings offered by universities
Semester 1 (February intake): Apply by September - October of the previous year
Semester 2 (July intake): Apply by March - April
Funded by the Australian Government.
Covers full tuition fees, living expenses, airfare, and health insurance.
Highly competitive and aimed at students from developing countries.
Offered by the Australian Government.
Provides financial assistance of up to AUD 15,000 per year.
Focus on students studying in regional areas.
Available for students pursuing research-based master’s programs.
Covers tuition fees and provides a living stipend.
Offered by individual universities but funded by the government.
Melbourne Graduate Scholarship
Faculty of Business and Economics Graduate Scholarship
ANU College of Business and Economics International Graduate Scholarship
University of Sydney International Scholarships (USydIS)
Business School International Scholarship
Monash International Merit Scholarship
Faculty of Business and Economics International Scholarship
UQ International Scholarships
Economics International Undergraduate/Postgraduate Scholarship (can be extended for Master’s)
Previously a separate scholarship, now merged, offering financial support for tuition, travel, and monthly stipend.
For candidates who wish to specialize in fields that promote peace and development, including economics.
Covers tuition, accommodation, and living costs.
Tuition fees (partial or full)
Living allowances (AUD 20,000–35,000 per year)
Overseas student health cover (OSHC)
Relocation and travel allowance (in some cases)
Economist
Data Analyst / Data Scientist (Economics focus)
Financial Analyst
Policy Analyst
Economic Consultant
Market Research Analyst
Actuarial Analyst
Banking and Investment Analyst
Public Sector Economist (government agencies)
Researcher (universities, think tanks, or private firms)
Risk Analyst
Development Economist (NGOs, International agencies)
Government departments (Treasury, Reserve Bank of Australia, Department of Finance)
Banks (Commonwealth Bank, ANZ, NAB, Westpac)
Consulting firms (Deloitte, PwC, EY, KPMG, and boutique economic consultancies)
Financial institutions and investment firms
International organizations (World Bank, IMF, UN agencies)
Research institutes and universities
Insurance companies and actuarial services
Corporate strategy and business analytics departments
Entry-level: AUD 65,000 – 80,000 per year
Mid-level (3–5 years experience): AUD 90,000 – 120,000 per year
Senior Economist / Consultant: AUD 130,000 – 180,000+ per year
After graduation, students can apply for a Post-Study Work Visa (Subclass 485)
Economics graduates fall under the Medium and Long-term Strategic Skills List (MLTSSL), making them eligible to apply for PR under the skilled migration pathways (points-based)
Gaining local work experience through internships or part-time jobs during studies helps significantly with PR and employment opportunities
Ph.D. in Economics (if interested in academic/research careers)
Professional certifications (CFA, CPA, Data Analytics certifications) for financial and corporate roles
Strong quantitative and analytical skills
Knowledge of econometrics and statistical software (Stata, R, SAS, Python)
Forecasting and modeling
Policy analysis and report writing
Presentation and communication skills
