New economics doctoral program first of its kind in Australia

The University of Melbourne’s new four-year Economics Doctoral program will help lift the standard of doctoral education nationally say several leading economic experts.

Professor Nilss Olekalns, Head of the Department of Economics at the Faculty of Business and Economics, says the four-year doctoral program, offered from Semester 1 next year, adopts a structure widely acknowledged as international best practice, ‘This will be the only program of its kind in Australia. Graduates from our program will receive world class instruction, both in terms of coursework and research training’.

?Gone are the days where the best students were forced to move to the United States or Europe to receive enhanced Economics training. Graduates can now receive a unique Australian experience, advanced coursework providing mastery of the core areas of economics as well as key sub-disciplines within economics,? says Professor Olekalns.

Under the new program, Doctoral candidates will complete a rigorous two year coursework component and go on to complete a sustained body of independent and original research in the field of economics and econometrics. The extra year of advanced coursework brings the program into line with international best practice and provides greater economic research outcomes than are currently possible under conventional models of economic training in Australia.

Students in the program will also have the opportunity to apply for a generous scholarship arrangement that covers all fees and provides a living allowance above what is provided by the current Australian Postgraduate Award.

Professor Deborah Cobb-Clark, Director of the Melbourne Institute of Applied Economic and Social Research, completed her doctorate in the US and believes this program will lift the standard of doctoral education nationally. ‘This is the model adopted by virtually all North American institutions, where the Doctoral program consists of two years coursework followed by work on the dissertation. It provides the foundation for studying important problems facing society.’

‘By adopting international best practice, the new program will increase the ability of graduates to undertake critical research and solve complex problems. These vital skills will enhance graduates’ employability in government, industry, the not-for-profit sector and academia.’

The University of Melbourne was recently named as the first and only Australian university to rank in the Top 100 of the Business and Economics subject ranking in the latest Shanghai Jiao Tong University rankings. It was named equal second in the region for the subject area.

‘The Faculty’s economists are ranked amongst the top in Australia and we have developed a Doctoral program befitting that rank,? says Professor Olekalns.