Master’s in Economics in Australia: Top Universities, Course Structure and Careers
Australia is a great place to study Economics. It has some of the best universities in the world, like the University of Melbourne, ANU, and the University of Sydney. These universities offer excellent programs that will help you become an expert in Economics.
In this blog, you’ll get to know about the benefits, scholarships, and career opportunities you will get after pursuing a master’s in economics in Australia.
Overview of Studying Economics in Australia
| Course | Master of Economics |
|---|---|
| Duration | 1-2 years |
| Average Tuition Fee | AUD 30,000 - 50,000 |
| Exams | GRE/GMAT (optional) |
Why Choose Australia for a Masters in Economics?
Australia offers a compelling opportunity to pursue a Master’s degree in Economics. Here’s why:
- World-Class Education: Australian universities are renowned for their high-quality economics programs, ranking among the top globally.
- Flexible Entry: The admission process for Australian universities is generally less stringent compared to other countries.
- Strong Job Market: Australia’s economy offers numerous job opportunities for economics graduates, with competitive salaries.
- Diverse Specialisations: Students can choose from a wide range of specialisations to personalise their studies to their interests.
- Financial Support: The Australian government offers scholarships to international students to help cover tuition and living costs.
- Lucrative Careers: Graduates can pursue various high-paying careers in economics, finance, and policy analysis.
Best Universities In Australia For Master’s In Economics
Australia is home to some of the best universities for economics in the world. Places like the University of Melbourne, the Australian National University, and the University of Sydney are known for their great teachers, smart research, and strong ties with businesses.
Here is a list of universities for master’s in economics in Australia along with the cost of studying economics in australia:
| University | Course | Duration | Tuition Fees |
|---|---|---|---|
| University of Melbourne | Master of Economics | 2 years | AUD 77,684 |
| University of Sydney | Master of Economics | 1.5 years | AUD 58,800 |
| University of Western Australia | Master of Economics | 1.5-2 years | AUD 48,700 |
| Australian National University | Master of Economics | 2 years | AUD 53,370 |
| University of Queensland | Master of Economics | 1.5-2 years | AUD 50,560 |
Course Structure For Master’s in Economics In Australia
The course structure for a Master of Economics in Australia typically involves a combination of core courses, elective subjects, and a research component. Here’s a general overview of the course to study economics in australia:
Core Courses:
These courses form the foundation of the program and cover advanced economic theory and quantitative methods. Common core courses include:
- Advanced Microeconomics
- Advanced Macroeconomics
- Econometrics
Elective Subjects:
Students can choose from a variety of electives to specialize in specific areas of interest. Some popular electives include:
- Financial Economics
- International Economics
- Labor Economics
- Public Economics
- Environmental Economics
Career after MS In Economics in Australia
After completing your Master’s in Economics in Australia, you’ll have a wide range of exciting career opportunities. Here are some of the top jobs and their average salaries:
- Economist: Analyse economic trends, forecast future economic conditions, and provide advice to businesses and governments.
- Financial Analyst: Analyse financial data, evaluate investments, and assess risk.
- Data Analyst: Collect, clean, and analyse large datasets to extract valuable insights.
- Market Research Analyst: Conduct market research to understand consumer behavior and identify market trends.
- Policy Analyst: Research and analyze public policies to inform decision-making.
- Investment Banker: Work on mergers and acquisitions, corporate finance, and investment banking.
- Management Consultant: Provide strategic advice to organizations to improve their performance.
Here is the list of job opportunities after master’s in economics in australia:
| Job Post | Average Annual Salary |
|---|---|
| Economist | AUD 85,000- 1,00,000 (INR 46 lakh-54 lakh) |
| Financial Analyst | AUD 80,000-1,00,000 (INR 43 lakh-54 lakh) |
| Data Analyst | AUD 80,000-1,00,000 (INR 43 lakh-54 lakh) |
| Market Research Analyst | AUD 50,000-80,000 (INR 27 lakh-43 lakh) |
| Policy Analyst | AUD 80,000- 1,00,000 (INR 43 lakh- 54 lakh) |
| Investment Banker | AUD 85,000-1,00,000 (INR 46 lakh-54 lakh) |
| Management Consultant | AUD 88,000-1,00,000 (INR 47 lakh-54 lakh) |
Key Takeaways By AdmitX
Studying for a Master’s in Economics in Australia can be a great choice. Australian universities offer excellent programs that teach you both theory and practical skills. Australia’s strong economy gives students a real-world understanding of economics.
If you’re interested in studying in Australia, reach out to AdmitX. They can help you with the application process and guide you towards your dream university.
FAQs
What are the top universities for a Master's in Economics in Australia?
Some of the top universities in Australia for a Master’s in Economics include the University of Melbourne, the Australian National University (ANU), the University of Sydney, and the University of New South Wales (UNSW). These universities offer world-class programs and excellent research opportunities.
What are the job opportunities after completing a Master's in Economics in Australia?
A Master’s in Economics from an Australian university can lead to various career paths, such as economist, financial analyst, data analyst, market research analyst, and policy analyst. These roles offer competitive salaries and the opportunity to work for leading organisations in Australia.
What are the average tuition fees for a Master's in Economics in Australia?
Tuition fees for a Master’s in Economics in Australia can vary depending on the university and specific program. However, you can expect to pay around AUD 30,000 to 50,000 per year.
What are the visa requirements for international students to study in Australia?
International students need a student visa to study in Australia. The visa application process involves submitting required documents, such as proof of enrollment, financial capacity, and health insurance.
What are the living costs in Australia for international students?
Living costs in Australia can vary depending on the city and lifestyle. On average, you can expect to spend around AUD 20,000 to 30,000 per year on accommodation, food, transportation, and other expenses. However, it’s important to budget carefully and consider factors like your chosen city and lifestyle preferences.
If you are an aspirant looking to study at your dream university, book an appointment with AdmitX today and start your applications early to avail yourself of all the benefits.
