Economics is a social science that covers the production, consumption, and distribution of goods and services, with the aim of explaining how economies work and how people interact. Although labelled a “social science” and often treated as one of the liberal arts, modern economics is in fact often very quantitative and heavily math-oriented in practice. There are two main branches of economics: macroeconomics and microeconomics.
Why study Economics?
Economists can guide and influence policy-making at a national level by understanding how consumers and producers react to changing conditions.
Economics can also help investors understand the potential ramifications of national policies and events on business conditions. Understanding economics can give investors the tools to predict macroeconomic conditions and understand the implications of those predictions on companies, stocks, and financial markets. This is what makes economics useful to market participants as it can help them understand the causes and likely outcomes of market events and the impact on various sectors, companies, and the overall business cycle.
Economists are also employed in investment banks, consulting firms, and other corporations. The role of economists can include forecasting growth such as GDP, interest rates, inflation, and overall market conditions.
Why study Economics in Australia?
1.Good quality education from high-ranking universities
Based on the most recent QS ranking released this year, Australia has five universities in the top 50, and seven universities in the top 100. Australian universities, especially The Go8, are well-known for their teaching quality, facilities, and worldwide recognition. Compared with the harsh competition in applying to UK and US institutions, students will normally receive a better outcome if they are interested in studying in Australia. Australian universities, including The Go8, have more relaxed entry requirements, but the career outcomes are promising.
2. No previous study in this field needed
Studying Economics in Australia does not require previous qualifications or work experience in a related discipline. Australian colleges and universities offer direct entry to people who have no related background. Students will commence their study and training from the fundamental units to advanced units until they fully understand all the necessary skills for their future careers.
3. Multiple Start Dates
Australian universities will normally have 2 or 3 intakes each year which makes it more flexible for international students to commence their program based on their individual situation.
4. Post-Study Work Visa
By studying 2 years or more in a higher education Business (Economics) degree, students will be eligible for a 2-8-year Post Study Working Visa. Graduates can utilise these visa opportunities to get more work experience. For some Business Management/Economics graduates, they will also have migration opportunities if they can accumulate required work experience after they receive their qualifications in Australia.
- Bachelor of Economics/Bachelor of Business (Economics)
- Graduate Certificate in Economics
- Graduate Diploma in Economics
- Master of Economics /Master of Applied Economics
- Master of Philosophy
- Doctor of Philosophy
- For the Bachelor’s degree course, normally applicants are required to have completed Year 12 or a Diploma course and attained IELTS 6.5
- For the Master’s course, normally applicants are required to have completed a Bachelor’s degree and attained IELTS 6.5
Interested in studying Economics in Australia?
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