Master of Economics

Entry requirements

Academic 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 including calculus-based economics subjects plus an econometrics subject with a weighted average mark of at least 75 per cent across the major to meet the analytical or mathematical prerequisite requirements.

If you do not have an economics background, you will require an undergraduate major of a mathematical/analytical nature including calculus, linear algebra, and statistics subjects with a weighted average mark of at least 75 per cent and will also be required to have completed microeconomics and macroeconomics subjects at least at the second-year level.

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 recognised previous study taught and assessed entirely in English or an approved English language test.

If you are from a non-English speaking background, the required standard of English for this degree is one of the following English proficiency test scores:

• IELTS (Academic) – 6.5 overall, with no band less than 6.0.
• TOEFL IBT – minimum score of 79, with writing 21; speaking 18; reading 13; listening 13.
• PTE – minimum score of 64, with no communicative skill below 60.
• Cambridge – minimum score of 176, with no skill less than 169.

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 for more details.

Outcomes

Career outcomes

Graduates have gone on to some successful and varied careers. These are just some examples:

• Economist
• Analyst
• Senior financial analyst
• Senior lecturer

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.