Australia boasts an affluent, mixed-market economy that is ranked 13th largest globally, with a GDP of more than $1.7 trillion USD (2024). Mining, services, and agriculture are the main industries, and the country is one of the leading exporters of iron ore, coal, and natural gas in the world, with China as its largest trading partner.
Providing a solid foundation in quantitative methods, economic theory, and applied economics, an MS in Economics Australia generally spans 1.5-2 years. Universities in Australia are internationally acknowledged for their top-tier education and research possibilities in Economics.
Why study Masters in Economics Australia?
Studying MS in Economics courses in Australia is a wise choice for the following reasons:
- First-Rate Education: Internationally acknowledged economics programs with outstanding academic standings are offered at universities in Australia.
- Cosmopolitan Setting: Study in a multicultural and welcoming society, improving worldwide outlooks.
- Focus on Research and Innovation: Students who study Economics in Australia have access to state-of-the-art economic research and data-driven educational settings.
- Wide Range of Employment Opportunities: Graduates have the chance to work in finance, international organizations, government, and research globally.
- Post-Graduation Employment Prospects: Post-study work visas are offered in Australia, allowing graduates to acquire first-hand experience.
Best Universities for MS in Economics in Australia
The top universities for Economics in Australia offering MS programs are listed below:
- University of Melbourne
- Australian National University
- University of Sydney
- University of New South Wales
- Monash University
- University of Queensland
- University of Western Australia
- University of Adelaide
- Macquarie University
- University of Technology Sydney
Best Economics Masters Programs Australia
Mentioned below are the best MS in Economics degree Australia:
- Master of Economics- Australian National University
- Master of Economics- University of Queensland
- Master of Economics- University of New South Wales
- Master of Economics- University of Sydney
- Master of Applied Economics and Econometrics- Monash University
- Master of Economics- University of Melbourne
- Master of Economics- University of Western Australia
- Master of Applied Economics- Macquarie University
- Master of Economics and Finance- Griffith University
- Master of Economics- University of Technology Sydney
Cost of Studying MS in Economics Australia
Based on the university and program, the cost of pursuing postgraduate Economics programs Australia generally ranges from AUD 30,000-AUD 50,000 annually in tuition fees. Renowned institutions like Australian National University (ANU), the University of Melbourne, and the University of Sydney tend to charge higher tuition fees. Besides tuition, overseas students should set aside money for living expenses ranging from approximately AUD 21,000-AUD 27,000 annually, covering food, housing, transit, and other individual expenditures. To assist in alleviating these expenses, scholarships and part-time employment opportunities are available.
Scholarships for MS in Economics Australia
The various scholarships offered for postgraduate Economics Australia programs are as under:
- University of Queensland Economics Scholarships
- University of Sydney International Scholarships
- University of Melbourne Graduate Research Scholarships
- ANU College of Business and Economics Scholarships
- Destination Australia Scholarship
- UNSW Business School Scholarships
- Deakin Vice-Chancellor’s International Scholarship
- Monash University Graduate Scholarships
- University of Adelaide Global Academic Excellence Scholarship
- La Trobe University Graduate Research Scholarships
- Australia Awards Scholarships
- Griffith University International Scholarships
- Research Training Program (RTP)
- Macquarie University International Scholarships
MS Economics in Australia Eligibility
The typical MS Economics Australia requirements are:
- The student needs to hold a completed Bachelor’s degree, generally in Economics or an associated field (e.g., Finance, Statistics, Mathematics).
- He/she needs to have secured a minimum GPA (differs depending on the university, usually 65% or above).
- The student needs to submit academic transcripts from all educational institutions previously attended.
- Although not required for all institutions, GRE or GMAT test scores may be required by certain universities.
- Non-native English speakers need to prove their fluency in English through appearing for English language proficiency tests like the IELTS (usually 6.5 overall with no band less than 6.0) or TOEFL generally 79–90 (differs based on the university).
- Prior coursework in microeconomics, macroeconomics, and quantitative methods may be required by certain programs.
- The student needs to submit a statement of purpose outlining his/her educational background and objectives.
- Typically 1-2 letters of recommendation from instructors or employers.
- The student needs to submit a resume or curriculum vitae (CV), particularly if applying with professional experience.
- Payment of application fee during online application submission.
- Overseas students need to hold a valid passport.
- Student Visa (Subclass 500) is required post admission for full-time study.
Career Opportunities After MS in Economics Australia
Post MS in Economics Australia career prospects are:
- Business Intelligence Analyst
- Financial Analyst
- Economic Modeller
- Academician/Lecturer
- Market Research Analyst
- Development Economist (UN, World Bank, etc.)
- Policy Advisor
- International Trade Specialist
- Regulatory Affairs Analyst
- Urban/Regional Planner
- Economic Consultant
- Banking and Finance Sector Roles
- Investment Analyst
- Government Economist (e.g., Treasury, Reserve Bank of Australia)
- Economic Analyst
- Public Sector Roles (ABS, Productivity Commission)
- Risk Analyst
- Environmental Economist
- Research Economist (Think Tanks, NGOs)
- Data Analyst
FAQs
What is the application process for MS in Economics Australia?
Applying for a Masters in Economics Australia generally entails submitting an online application with academic transcripts, a statement of purpose, recommendation letters, and evidence of English language competence, along with fulfilling the entry requirements of the selected university.
Can international students work while studying an MS in Economics Australia?
Yes, while studying a Masters in Economics Australia, overseas students can work for a maximum of 48 hours per fortnight during the academic term and unlimited hours during breaks.
What are the primary subjects or courses covered in an MS in Economics Australia?
MS in Economics courses in Australia include the following key subjects: International Economics, Microeconomics, Macroeconomics, Advanced Quantitative Methods, Game Theory, Econometrics, Economic Policy, and Public Economics. Electives in fields such as financial economics, development economics, or behavioral economics may also be offered by certain programs.
Post completing their Masters in Economics Australia, can students stay and work in the country?
Yes, post completing postgraduate Economics programs Australia, students can apply for a Temporary Graduate visa (subclass 485), which enables them to stay and work in the country for a maximum of 2-3 years, based on their credentials and location of study.
For further assistance or queries students can contact us, Edwise International, and avail our wide range of services for students on destinations like Universities in Australia, study in Australia, study in UK, study in USA, study in Canada, study in Ireland, study in New-Zealand, study in Singapore, study in Germany, study in France and many other countries.
