Master of Economics overview
Master degrees provide extensive knowledge of economics, with available topics ranging from rudimentary macro and microeconomics to advanced monetary policy, international trade and more. Macquarie University and similar institutions offer students the chance to choose from a great deal of electives too, such as risk management, derivatives, banking, financial intermediation and more. They generally take two years of full time study to complete or up to four years part time. The duration can go below two years so long as particular prerequisites are met.
Employment options
The employment options mentioned here are great fits for graduates. For example, working as a statistician at the Statistics and Data Corporation is made possible by the analytical quantitative skills developed. Adding value to companies and government departments working for companies like Frontier Economics as an economist is another rewarding career path.
Scholarships and funding
The following are some of the scholarships available for economics students:
- IBISWorld Scholarships contribute $1,000 toward paying off HELP debt. Applicants must write an essay responding to the question, “what are the challenges and opportunities associated with moving away from a manufacturing based economy?” It must be between 800 - 1000 words.
- Monash Business School Indigenous Scholarship aid the socially or economically disadvantaged, which is defined on the scholarship’s site.
- University of Melbourne students can apply for the Queen’s College Graduate Business and Economics Scholarship. This is worth $5,710.
Those ineligible for these scholarships can apply for any number of the general opportunities listed here.
Prerequisites and selection process
These courses require students to have completed a bachelor degree in any discipline to enter, with GPA requirements ranging from a high pass to credit. (60-65%). Course duration can be lowered quite significantly, provided a few criteria are met. The following are examples of these, taken from Macquarie University’s guide:
- A bachelor degree in an unrelated discipline will result in two year full time completion.
- A bachelor degree in a related discipline will result in one and a half year full time completion.
- A bachelor degree in a related discipline combined with three years of relevant work experience will result in a one year completion time.
- Having a relevant graduate certificate will result in one and a half year full time completion.
- Having an honours degree in a relevant discipline will result in one year full time completion.