University of Melbourne
Master of Economics
- Delivery: Face to Face
- Study Level: Postgraduate
- Duration: 24 months
- Course Type: Master's
Gain the skills necessary to practice as a professional economist in the public or private sectors.
Course overview
Why study Economics at Melbourne Business School?
- Understand the mechanics of the market: discover the theory, research and principles that drive the markets and learn to evaluate policy and business decisions.
- Predict future trends: develop the skills you'll need to grow into a dynamic, future-facing career.
- Learn from leading academics: The university's renowned academics maintain connections to industry and government.
- Leading reputation: The University of Melbourne is consistently ranked among the world's top universities.
- Become part of the University of Melbourne's global network: With over 60,000 business alumni in over 100 countries, you’re ensuring that you join a valuable network of peers from all business disciplines right from day one.
Graduates of the Master of Economics will have detailed knowledge of the most recent research in the disciplines of economics and econometrics and will have developed the skills needed to make their own contributions to that research. They will leave as critical thinkers in microeconomics, macroeconomics and econometrics.
Develop expertise in fundamental principles influencing markets and managing organisations, evaluating the impact of a variety of cultural and environmental factors on economic policy and business decisions and interpreting and critically evaluating articles in economics research literature.
CSP Subsidised Fees Available
This program has a limited quota of Commonwealth Supported Places (CSP). The indicative CSP price is calculated based on first year fees for EFT. The actual fee may vary if there are choices in electives or majors.
Key facts
What you will study
The Master of Economics is designed to be completed in two years of full-time study and requires completion of 200 points comprising:
- Four compulsory core subjects
- Eight elective subjects
- Two quantitative subjects
- One research report
First year economics
- Advanced Microeconomics
- Advanced Macroeconomics
Second year economics
Complete one of the following:
- Microeconomics
- Case Studies in Microeconomic Policy
- Labour Economics
- Game Theory
- Development Economics
- Economic Design
Complete one of the following:
- Macroeconomics
- Monetary Economics
- Macroeconomic Techniques
- Modelling the Australian Macroeconomy
Entry requirements
To be considered for entry into this course, you must fulfil the following criteria:
- Have completed an undergraduate or postgraduate degree with a strong analytical or mathematical component with a Weighted Average Mark (WAM) of at least 75% (or equivalent).
- Have completed the Graduate Records Examination (GRE), unless you have completed an undergraduate degree in Australia or New Zealand or met one of the approved conditions for GRE exemption.
- Submit a 500-word personal statement outlining why you wish to be considered for this course.
Please note:
If you have an economics background, you will normally be required to have a major in economics. To meet the analytical or mathematical prerequisite requirements, studies should include calculus-based economics subjects plus an econometrics subject with a weighted average mark of at least 75% across the major.
If you are an applicant from a non-economics background, you will require an undergraduate major of a mathematical/analytical nature. This should include calculus, linear algebra and statistics subjects with a weighted average mark of at least 75%. You will also be required to have completed microeconomics and macroeconomics subjects that are at the second-year level or above.
English language requirements
All applicants to the University of Melbourne must satisfy the English language requirements. This may be achieved in a number of ways, including a recognised previous study taught and assessed entirely in English or an approved English language test.
Contact the university or visit its website for more information.
Recognition of Prior Learning
Prior studies may be credited towards your degree and potentially reduce the duration of your course. This is known as Advanced Standing (also known as credit or recognition of prior learning).
If you have an honours degree in economics with a Weighted Average Mark (WAM) of at least 75 per cent, or a relevant postgraduate degree with a WAM of at least 75 per cent and have completed subjects which satisfy the prerequisites for second year subjects in the Master of Economics, you may be awarded up to 100 points of credit into this course.
Contact the university or visit its website for more information.
Outcomes
Learning outcomes
You will leave the degree with a number of essential skills, including:
- An advanced understanding of the fundamental principles of economics and econometrics.
- Develop cognitive, technical and creative skills to generate and evaluate advanced economic research questions.
- Critically analyse economic policy or decision making problems and apply relevant models and theories to generate effective solutions.
- Apply analytical skills and techniques to critically assess a range of issues in economics, including: developing relevant research questions; determining the appropriate methodology for addressing the research questions; determining the information and data needed to conduct the research; and determining the feasibility of a research project.
Career outcomes
Graduates have gone on to some successful and varied careers. These are just some examples:
- Economist
- Analyst
- Senior financial analyst
- Senior lecturer
Fees and CSP
Average first-year fee in 2026: From $17,392 (Commonwealth Supported Place)
Indicative first-year fee in 2026: $37,984 (domestic full-fee paying place)
The fees shown are based on a first-year and full-time study load of 100 credit points (eight subjects) per year.
Student fees may vary in accordance with:
- The number of subjects studied per term.
- The choice of major or specialisation.
- Choice of subjects.
- Credit from previous study or work experience.
- Eligibility for government-funded loans.
You may also need to pay the student services and amenities fee.
Student fees shown are subject to change. Contact the university directly to confirm.
Commonwealth Supported Places
The Australian Government allocates a certain number of CSPs to the universities each year, which are then distributed to students based on merit.
If you're a Commonwealth Supported Student (CSS), you'll only need to pay a portion of your tuition fees. This is known as the student contribution amount – the balance once the government subsidy is applied. This means your costs are much lower.
Limited CSP spaces are offered to students enrolled in selected postgraduate courses.
Your student contribution amount is:
- Calculated per the subject you're enrolled in.
- Dependent on the study areas they relate to.
- Reviewed and adjusted each year.
HECS-HELP loans are available to CSP students to pay the student contribution amount.
FEE-HELP loans are available to assist eligible full-fee paying domestic students with the cost of a university program.