Top Economics Universities in Australia

Top Economics Universities in Australia

Top Economics Universities in Australia
Rosmit GyawaliFri Jun 03 2022

Economics courses in Australia educate students about the production, distribution and consumption of goods and services through statistical data, modelling and economic theories. These courses offered by universities and colleges teach students how to optimize all economic actions in order to improve the well-being and prosperity of economic entities and consumers. 

A degree in economics can lead to a range of intriguing and satisfying occupations in the land of Australia. Australian universities will prepare students to pursue their interests in a variety of fields, including the private, public, and non-profit sectors.

This degree will prepare you for a job in health care, health leadership, data analytics, global health, global economy, business and management, and health leadership, among other fields. Graduates from economics can earn up to $45,000-$60,000 in the Australian job market.

Graduates can work in a multidisciplinary context to solve economic and financial problems. This degree will provide students with a firm foundation in analyzing and interpreting econometric and mathematical data, as well as applying their findings to a variety of situations, such as financial investment, production, taxes, and government expenditure and policies.

Global ranking of some of the top universities in Australia for Economics courses 

Several top universities offer economics courses in Australia. The economics degree and certificate courses in Australia come in several levels, like bachelor's, master’s, diplomas, and post-graduation. 

The following is a list of the top Australian universities in the subjects, as determined by the QS Rankings 2022 by subject "Business and Economics".

QS Ranking

Universities

Location

33

The Australian National University

Canberra, Australia

34

The University of Melbourne

Parkville, Australia

36

The University of New South Wales 

Sydney, Australia

=39

Monash University

Melbourne, Australia

52

The University of Sydney

Sydney, Australia

83

The University of Queensland

Brisbane City, Australia

=124

University of Technology Sydney

Haymarket, Australia

151-200

Deakin University

Burwood, Australia

151-200

Macquarie University

Sydney, Australia

151-200

Queensland University of Technology 

Brisbane, Australia

151-200

The University of Adelaide

Adelaide, Australia

151-200

The University of Western Australia

Perth, Australia

201-250

RMIT University

Melbourne, Australia

201-250

The University of Newcastle, Australia

Callaghan, Australia

201-250

University of Wollongong

Wollongong, Australia

Programs for Bachelors in Economics with tuition fees in Australia

A bachelor's degree in economics is a 3-4 years course offered by many universities in Australia. Here is a list of an undergraduate degrees in economics as offered by Australia’s top universities along with the respective annual tuition fees for international universities.

Universities/Colleges

Courses

Tuition fees per annum in AUD

Australian National University

Bachelor of Economics

$45,360

Bachelor of Economics (Honours)

Bachelor of Finance, Economics and Statistics (Honours)

University of Melbourne

Bachelor of Commerce, economics major

$44,664-$47,704

The University of Sydney

Bachelor of Economics

$49,500

Bachelor of Economics (Honours)

Bachelor of Economics/Bachelor of Laws

University of New South Wales

Bachelor of Economics

$46,805

Bachelor of Economics (Honours)

$46,840

University of Queensland

Bachelor of Economics

$43,200

Bachelor of Economics (Honours)

Monash University

Bachelor of Economics

$47,300

Bachelor of Commerce and Bachelor of Economics

$47,300

The University of Western Australia

Bachelor of Professional Economics

$40,900

The University of Adelaide

Bachelor of Economics

$42,000

Bachelor of Economics (Advanced)

$42,000

Bachelor of Philosophy, Politics and Economics

$36,000

University of Technology Sydney

Bachelor of Economics 

$20780 * 2 = $41,560

University of Wollongong

Bachelor of Economics and Finance

$90,720 (Total Tuition Fees)

Bachelor of Politics, Philosophy and Economics

$79,776 (Total Tuition Fees)

Academic Requirements

  • Completion of higher secondary education equivalent to Australian year 12
  • Applicants are generally required to have strong mathematics and science background in their high school education as prerequisite courses
  • A minimum score of 60-70% is required

English Test Scores

  • IELTS: a minimum overall score of 6.0 with no band less than 5.5.
  • TOEFL iBT: a minimum overall score of 70-90 with a minimum of 21 in writing, 18 in speaking, and 13 in reading and listening.
  • Pearson Test of English (PTE Academic): A minimum score of 58-64 overall with no less than 50 in each section.

Entry pathway:

If the applicant does not meet the entry requirement into a bachelor's program, the following routes can be taken:

  • Applying with an SAT or ACT score in addition to the school diploma
  • Applying for a foundation year program
  • Completing a year of university-level courses in the home country and then applying for a bachelor's program

Programs for Masters in Economics with tuition fees in Australia

Postgraduate masters degree in economics is a 1 to 2 years course in Australia. It is available as a single degree or as part of a dual degree program with law, commerce, or the arts.

Universities/Colleges

Courses

Tuition fees per annum in AUD

Australian National University

Master of Economics

$45,360

Master of Applied Economics

University of Melbourne

Master of Economics

$46,752

Master of Applied Economics

The University of Sydney

Master of Economics

$54,000

Master of Economic Analysis

University of New South Wales

Master of Applied Economics

$50,200

University of Queensland

Master of Economics

$43,072

Master of Applied Economics

$43,072

Master of Advanced Economics

$41,536

Monash University

Master of Applied Economics and Econometrics

$47,800

The University of Western Australia

Master of Economics

$83,000 (Total Tuition Fees)

The University of Adelaide

Master of Advanced Economics

$46,000

Master of Applied Economics

University of Technology Sydney

Masters in Behavioral Economics 

$22,230 * 2 = $44,460

Academic Requirements

  • An undergraduate degree with a major in social science or commerce/management with a weighted average mark of at least 70%. 
  • Some universities require international applicants to submit their GRE score.

English Test Scores

For English language tests, the minimum average scores required are as follows:

  • IELTS: a minimum overall score of 6.5 with no band less than 6.0.
  • TOEFL iBT: a minimum overall score of 79 with 21 in writing, 18 in speaking, and 13 in reading and listening.
  • Pearson Test of English (PTE Academic): A minimum score of 58-64 inclusive and no communicative skill below 50.

Programs for PhD in Economics with tuition fees in Australia

Universities/Colleges

Courses

Tuition fees per annum in AUD

University of Melbourne

Doctoral Program in Economics

$43,808

The University of Western Australia

Doctor of Philosophy (Economics)

$192,000 (Total Tuition Fees)

University of Technology Sydney

Economics PhD program

$153,360 (Total Tuition Fees)

Academic Requirements

  • A four-year bachelor degree in a relevant discipline with a minimum score of 75% in the final year of study.
  • A master’s degree in a relevant discipline with a substantial research component or qualification and professional experience in the relative field.
  • Some universities also require GRE/GMAT for all applicants. The score should be less than five years old.

English Test Scores

  • IELTS: a minimum overall score of 7.0 with 7.0 in writing and no band less than 6.0.
  • TOEFL iBT: a minimum overall score of 94 with 27 in writing, 18 in speaking, and 13 in reading and listening.
  • Pearson Test of English (PTE Academic): A minimum score of 65 inclusive and no communicative skill below 50.

Top Specializations Available in Economics Courses in Australia

There are plenty of specializations in the business and economic fields in Australia. Some of the common fields of specialization available are as follows:

  • Agricultural Economics
  • Economic History
  • Economic Policy
  • Environmental Economics
  • Microeconomics
  • Macroeconomics
  • Property Economics
  • Trade and Development

Top Economics Universities in Australia: Scholarships

International students in Australia can apply for a variety of scholarships, grants, fellowships, and bursaries. Several colleges also provide departmental scholarships, which are reserved only for economics students. 

The following are some of the scholarships available to overseas students of economics in Australia.

University

Scholarship

Amount

The University of Newcastle, Australia

Women in Finance and Economics Scholarship

AUD $12,500

Macquarie University

Vice-Chancellor's International Scholarship

Up to AUD $10,000

RMIT University

Jack Ward Scholarship

AUD $7,000

University of Queensland

International Onshore Merit Scholarship

AUD $10,000

The University of Sydney

Business School International Scholarship

AUD $5000 to AUD $10,000

Top Economics Universities in Australia: Scope

Economists have diverse careers which influence unemployment and inflation, economic growth and development, income inequality, industrial organization, public policy design and implementation, and management of the environment. 

Opportunities for economics personnel are particularly strong in banking and finance, business analysis, law, journalism and public policy in Australia. 

Studying Economics will make you adaptable and capable of taking on diverse roles including:

  • Business analyst
  • Economic consultant
  • Economic researcher
  • Financial analyst
  • Graduate economist
  • Investment analyst
  • Management consultant
  • Policy advisor
  • Statistical analyst
  • Superannuation advisor

Likewise, some top recruiters for economics professionals are-: 

  • Ethos Urban
  • Active Utilities
  • Bull and Bear Economics
  • W Talent
  • NSW Department of Planning
  • Shell Energy
  • Cushman & Wakefield
  • Productivity Commission
  • Pracsys

Job Title

Range

Average

Accountant

AU$39k - AU$72k

AU$52,807

Investment Analyst

AU$54k - AU$88k

AU$68,936

Commercial Analyst

AU$54k - AU$89k

AU$69,277

Marketing Manager

AU$61k - AU$134k

AU$90,115

Senior Economist

AU$85k - AU$178k

AU$120,717

Senior Business Analyst

AU$100k - AU$157k

AU$124,588

Economist

AU$55k - AU$123k

AU$80,840

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