Master of Professional Economics

Find Out MoreProfessional Credit

This program is only available for currently enrolled students. No new applications for admission will be accepted.

Overview

The Master of Professional Economics will equip you with the economic principles needed to be an effective and influential policy advisor in a changing global environment.

The program focuses on analysing the dynamics of change globally, with particular focus on developing and emerging economies. Graduates will attain an intuitive understanding of economic theories and econometrics.

The program provides fundamental training enabling professionals to assess potential impact of policy changes, facilitating employment in both the public and private sector.

Graduates will be able to communicate economic theories and applied research to a broad range of stakeholders in a professional and practical context. Graduates will adopt both domestic and international economic perspective and will be able apply the skills and knowledge acquired to real-world scenarios. 

The Master of Professional Economics is one of the few programs that recognises relevant professional experience and may result in credit being granted for up to four courses. This means you could complete your Masters in 8 courses! To learn more about what your professional experience can provide you with, please visit the Professional Credit section.

Our advanced online learning system provides you with the flexibility and support to study anywhere, anytime to balance work, life and study. You can achieve your fully accredited Master of Professional Economics at a time that suits you.

Domestic students & International off-shore students
 
The 12-course program can be completed over 3 trimesters full-time (1 year) or a maximum of 5 years part-time. Depending upon your professional experience you could reduce the amount of courses you study and the time taken to complete your masters.
 
International on-shore students
 
Typically the full 12 course program will be completed over 5 trimesters full-time ( approximately 1 year 7 months).

Explore this page and find out if the Master of Professional Economics is for you, what you will study and the career opportunities it can provide you.

Domestic Student Program and Fee Summary
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Note: This Program and Fee Summary is intended to provide an overview of the Program Requirements. It is the prospective student’s responsibility to investigate the Program and Enrolment Terms and Conditions carefully prior to applying.

Program Intake
  • Trimester 1
  • Trimester 2
  • Trimester 3
Tuition Fees
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Note: Fees are indicative and may be subject to annual increase. Overall program fee may vary based on course selection.

Please click here to view your indicative one year program fees.

Number of Courses
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Note: 1 course is equal to 10 units of study.

8 - 12 depending on professional experience (RPL)

Program Code

40020

View full program details

International Student Program and Fee Summary
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Note: This Program and Fee Summary is intended to provide an overview of the Program Requirements. It is the prospective student’s responsibility to investigate the Program and Enrolment Terms and Conditions carefully prior to applying.

Campus location

To see the details for this program, select a campus.

Tuition Fees
?

Note: Fees are indicative and may be subject to annual increase. Overall program fee may vary based on course selection.

Please click here to view the indicative one year program fees.

Number of Courses
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Note: 1 course is equal to 10 units of study.

8 - 12 depending on professional experience (RPL)
CRICOS

088918D

Program Code

40020

View full program details

Interested in this program?

Domestic Applications Close

Monday, 22nd January 2018

Call 1800 882 121

Outside Australia call +61 2 4921 8856

Ask a Question

Is It For You?

Do you want to expand your career opportunities and further develop your knowledge of how the economy should influence your business decisions? The Master of Professional Economics is designed for professionals whose ability to interpret economic principles would improve their business management. Those who hold a bachelor degree can complete this program as a pathway to progress careers in management teams across all industries.

The Master of Professional economics incorporates practical experience through hands-on-lab experiments of real business cases. Graduates will apply economic concepts to critically and effectively address business and regulatory, ethical and global perspectives in diverse economies.

Career Opportunities

Once having completed the Master of Professional Economics at the University of Newcastle, you will be differentiated by your practical approach and problem-solving ability. You will acquire rigorous skills allowing you to comprehend contemporary issues facing policymakers and businesses in the ever-changing and volatile global economy.

Graduates will be confident in their ability to know and apply economic theories to analyse business change. The relevant knowledge and skills underlie many senior roles including but not limited to, market analysts, planning/policy analysts and financial analysts.

Graduates will be equipped to work at an advanced level in government agencies, central banks, international organisations and financial institutions.

Professional Credit

Do you have qualifications or experience beyond the minimum entry requirements for a Masters Degree? If so, you may be able to complete your degree in reduced time and at reduced cost.

The Newcastle Business School will consider your relevant professional experience and you could reduce your study by up to a third! Recognition of Prior Learning (RPL) may result in credit granted for up to four courses.

RPL may be granted to you when you demonstrate competencies aligned to the learning outcomes of selected courses. You can do this as part of your application by providing a statement and supporting documentation outlining relevant business or organisational experience.

Please refer to the learning outcomes for each course below and additional instructions on how to apply to have your professional experience assessed for credit.

Managing Under Uncertainty

Learning Outcomes - GSBS6001 Managing Under Uncertainty

  • Explain how human behavioral and social factors influence decision-making in organisations
  • Use relevant sources to construct and support a written academic argument
  • Critically evaluate the limitations of rational decision-making process models applied in organisations
  • Demonstrate ability to reflect on own decision-making in an organisational setting, as well as the decision-making of others.

Foundations of Business Analysis

Learning Outcomes - GSBS6002 Foundations of Business Analysis

  • Communicate the importance of evidence-based decision-making in a business or organisational setting
  • Demonstrate an ability to identify important issues or problems within a business or organisation, and design an appropriate research project to investigate
  • Develop skills in collecting and analysing data, using a range of techniques
  • Explain how the outcomes of research can be used to solve complex business or organisational problems
  • Demonstrate ability to effectively communicate research findings in writing.

Economics of Competitive Advantage

Learning Outcomes - GSBS6410 Economics of Competitive Advantage

  • Demonstrate critical understanding of the assumptions, tools, theories, models and the language of microeconomics.
  • Identify recent developments in applied microeconomics, especially concepts about competitive advantage and strategy, and contemporary policy debates.
  • Apply the microeconomic concepts, theories and models to case studies.
  • Develop and present a critically reflective, well written case analysis.
  • Access and analyse on-­line microeconomic data sources.

Macroeconomic Analysis

Learning Outcomes - GSBS6420 Macroeconomic Analysis

  • Demonstrate a critical understanding of the functioning of the macroeconomy.
  • Critically evaluate the relevance of various macroeconomic principles and concepts to business and public policy decision making.
  • Explain the role of government policy in stabilising the business cycle.
  • Describe how the changing global economy impacts on the functioning of the macroeconomy.
  • Demonstrate that macroeconomics is a contested discipline with different intellectual perspectives on the most appropriate way to manage the macroeconomy.

Applying for Professional Credit

Applicants must be able to demonstrate that they have achieved these learning outcomes (for one or more of the courses listed above), through education and/or experience ABOVE the minimum requirements for direct admission to the Master of Professional Economics.

A completed RPL application form and supporting documentation should be submitted along with your application for admission:

OPTION 1 – For students applying directly online at www.gradschool.edu.au/apply

OPTION 2 – International students wishing to study on campus at the University of Newcastle.

NOTE: If you have previous completed postgraduate educational qualifications (Graduate Certificate, Graduate Diploma or Masters), you should apply for direct credit.

Related Programs

Get Started

Applying to the University of Newcastle has never been easier! For most programs, you can complete an easy, online application form. Applying only takes around 10 minutes, and there is no fee for direct applications. You can upload all of your certified supporting documentation online. Below is an overview of what is required. You should prepare any required documentation before commencing the online application. If you have questions about the application process or the requirements for your program, please contact us. When you are ready, begin your application. 

Admission to the Master of Professional Economics program is available to applicants who can demonstrate a suitable combination or education and/or work experience. The table below outlines the number of years experience required, depending on your previous educational qualifications.

 

Educational Qualification Number of years relevant industry experience
3 Year Bachelor (in a related field of study) Zero
3 Year Bachelor (in a non-related field of study) One
No previous educational qualifications Seven (including 2 in a management position)

 

Don’t have the required entry criteria for the Master of Professional Economics? You may be eligible for admission into the Graduate Certificate in Professional Economics. The Graduate Certificate is 4 courses and is a pathway into the Master. Once you have completed the Graduate Certificate you can apply for the Master of Professional Economics and seek credit for the 4 courses you have already completed. 

For information regarding the Graduate Certificate in Professional Economics, please visit the program page.

If you would like your professional qualifications and/or work experience to be considered, please provide certified copies of all relevant qualifications, a detailed CV, and a statement of service or signed letters from employers confirming your role, duties and period of employment.

Applicants should also provide a statement detailing how your professional experience prepares you to undertake postgraduate study.

PLEASE NOTE: All applications for recognition of prior learning based on experience and professional development will be assessed by the program convenor. The information outlined above is indicative only

If you do not have a University of Newcastle Student Identification number, or wish to include details of studies completed at another institution, you may also be required to submit the following:

Identification Documents

If you do not already have a University of Newcastle Student Number, you must provide 100 points of ID. You must supply either a copy of your passport, birth certificate or you citizenship certificate as part of your 100 points.

70 Points Passport
Birth Certificate (not extract)
Citizenship Certificate
40 Points Current Australian Drivers Licence
Student Identification card issued by an educational institution
Pension or Government Health Care Card or Public Service ID Card
Government Issued Licence (eg boat, pilot)
University staff photo identification card
35 Points Letter from a current employer * Must be on official company letterhead and contain both the employer and employee’s signatures and the name and address of the employee
25 Points Medicare card / Credit card
Financial institution cash card or passbook
Council rates notice
Electricity, gas or telephone bill
2 Tax assessment notice
Foreign Driver's Licence
Membership card (e.g. club, union, trade/professional body, library, video library)
Rental receipt or statement from landlord or real estate agent
Marriage certificate
Divorce decree
Name and address verified from electoral role
Deed Poll registered with the relevant authority

Citizenship and Visa Details

Applicants who were born overseas and are now residing in Australia will need to provide details of their citizenship, residency and visa details.

  • If you were born overseas and have gained Australian citizenship, you will need to provide a certified copy of your Australian passport or citizenship certificate.
  • If you were born overseas and currently hold an Australian visa, you need to confirm your details of your visa type/class, and provide a copy of your visa. Depending on how your visa was issued, you may provide a copy of the page from your passport showing the visa stamp, or a copy of the Department of Immigration confirmation of your electronic visa. If you do not have access to either of these documents, please include a copy of your passport.

Applicants who were born overseas and are now residing in Australia will need to provide details of their citizenship, residency and visa details.

  • If you were born overseas and have gained Australian citizenship, you will need to provide a certified copy of your Australian passport or citizenship certificate.
  • If you were born overseas and currently hold an Australian visa, you need to confirm your details of your visa type/class, and provide a copy of your visa. Depending on how your visa was issued, you may provide a copy of the page from your passport showing the visa stamp, or a copy of the Department of Immigration confirmation of your electronic visa. If you do not have access to either of these documents, please include a copy of your passport.

Educational Qualifications

If you are applying for admission on the basis of studies completed at an institution other than the University of Newcastle, you will need to provide certified copies of official transcripts.

For each qualification that you list on your application, you must provide a certified copy of your transcript.

Overseas educational qualifications will be assessed for equivalence according to standards provided by the National Office of Overseas Skills Recognition.

Evidence of English Proficiency

All applicants, whether domestic or international, for admission to any University of Newcastle program must provide evidence that their English language ability meets the minimum requirements for admission. Applicants should review the University of Newcastle English Proficiency Policy

Typically, applicants will provide certified copies of one of the following documents:

  • International English Language Testing System (IELTS) or Test of English as a Foreign Language (TOEFL) results.
  • Evidence of previous studies undertaken overseas in an English Speaking country
  • Evidence of previous studies undertaken in English in a non-English speaking country, and confirmation from institution that studies were conducted and examined solely in the English language.

If you are not able to provide these documents, please provide details of any employment undertaken in an English speaking environment. Your application will be reviewed and we contact you regarding your options for demonstrating English proficiency.

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Courses and Details

Program Code 40020
Graduate Level Postgraduate Coursework
Locations
  • Online
  • Newcastle (City Precinct)
  • Sydney Elizabeth Street
CRICOS Code 088918D
Contributing Schools and Faculties
Admission Instructions:

How to apply as a:

Program Award Rules and Schedules
Mode of delivery Face to Face + Online
Program Plans

Description

Professionals who can understand and apply economic theory in decision making are in high demand. A professional masters degree that enhances critical thinking and analytical skills and equips you with comprehensive economic tools will give you an edge in your work and expand your career opportunities. Graduates of the Master of Professional Economics gain a deeper understanding of how economies respond to external shocks and domestic government policies as it pertains to government spending and debt, distribution of income and social security, provision of public goods, externalities, taxation and government regulation. This knowledge is highly valued in the economic and financial services industry, multinational corporations, businesses, central banks and government departments and academia. The Master of Professional Economics degree will provide you with the sound economic principles needed to be an effective and influential policy advisor in a changing global environment.

Admission Requirements

There are two entry pathways into the Master of Professional Economics Program.

Direct entry will be available for applicants who have:

  • 3 year Bachelor’s Degree in a related field such as economics, business, accounting, finance, human resource management, marketing, management; or
  • 3 year Bachelor’s Degree not in a related field + 1 year appropriate business experience; or
  • At least 7 years of appropriate business experience.

Students entering via the Masters pathway are able to complete 4 courses per trimester, and are able to complete courses in any sequence they wish, as long as it is consistent with assumed knowledge requirements and course requisites. While students are enrolled in the master’s program, they will be able to exit with a Graduate Certificate in Professional Economics once they have completed the four (40 units) specified courses. Applicants with an Honours degree in a related area or equivalent qualification at Level 8 or above will be given recognition of appropriate prior learning prior to enrolling in the MPE degree program.

The alternate pathway is through the Graduate Certificate (40 units) which will be available for applicants who have:

  • 3 year Bachelor’s Degree not in a related field; or
  • 3 year Diploma in a related field such as economics, business, accounting, finance, human resource management, marketing, management; or
  • 3 year Diploma not in a related field + 1 year appropriate business experience; or
  • 2 year Diploma in a related field as above + 2 years appropriate business experience; or
  • 2 year Diploma not in a related field + 3 years appropriate business experience; or
  • At least 5 years appropriate business experience.

Students entering via the graduate certificate pathway will be required to:

  • Complete the Graduate Certificate in Professional Economics over a minimum of two trimesters (typically 20 units per trimester); and
  • Successfully complete a Business Academic Skills Program (BASP) which is of 6 weeks duration. The BASP will be non-fee based and can be completed concurrently with courses in the Graduate Certificate.

Only after the successful completion of the Graduate Certificate and the academic skills program will students be eligible to formally enrol in the Masters Program.

The relevant economics or business experience (RPL) will be assessed through the Faculty’s approved process which can be accessed through the Professional Credit tab above.

Minimum English Language Proficiency Requirements

All Applicants must demonstrate that they meet the University’s English proficiency requirement. Further information regarding English language proficiency requirements can be found at the English Language Proficiency for Admission Policy here.

Requirements and Structure

To complete the Master of Professional Economics, students are required to complete 12 courses (120 units) comprising all the core courses (90 units) and three courses (30 units) chosen from the list of directed courses.

A Master degree shall be conferred as an Ordinary Degree, except that, in cases where a candidate has achieved a Grade Point Average of 6.0 or above, the degree will be conferred ‘With Distinction’.

Course Information

Core Courses

Complete all the following core courses..

Code Name Availability Units
GSBS6001 Managing Under Uncertainty Trimester 1 - 2017 (City Precinct)
Trimester 1 - 2017 (Singapore) (Singapore)
Trimester 3 - 2017 (Sydney Elizabeth Street)
Trimester 3 - 2017 (GradSchool)
Trimester 1 - 2017 (Sydney Elizabeth Street)
Trimester 1 - 2017 (GradSchool)
Trimester 2 - 2017 (Singapore) (Singapore)
Trimester 2 - 2017 (City Precinct)
Trimester 2 - 2017 (Sydney Elizabeth Street)
Trimester 2 - 2017 (GradSchool)
Trimester 3 - 2017 (Singapore) (Singapore)
Trimester 3 - 2017 (City Precinct)
10 units
GSBS6002 Foundations of Business Analysis Trimester 1 - 2017 (City Precinct)
Trimester 1 - 2017 (Sydney Elizabeth Street)
Trimester 1 - 2017 (Singapore) (Singapore)
Trimester 3 - 2017 (Sydney Elizabeth Street)
Trimester 3 - 2017 (GradSchool)
Trimester 1 - 2017 (GradSchool)
Trimester 2 - 2017 (Singapore) (Singapore)
Trimester 2 - 2017 (City Precinct)
Trimester 2 - 2017 (Sydney Elizabeth Street)
Trimester 2 - 2017 (GradSchool)
Trimester 3 - 2017 (Singapore) (Singapore)
Trimester 3 - 2017 (City Precinct)
10 units
GSBS6410 Economics of Competitive Advantage Trimester 1 - 2017 (Singapore) (Singapore)
Trimester 3 - 2017 (Singapore) (Singapore)
Trimester 1 - 2017 (GradSchool)
Trimester 2 - 2017 (GradSchool)
10 units
GSBS6420 Macroeconomic Analysis Trimester 1 - 2017 (GradSchool)
Trimester 2 - 2017 (GradSchool)
10 units
GSBS6430 Issues in Developing Economies Semester 1 - 2017 (Callaghan) 10 units
GSBS6440 International Trade and Policy Not currently offered 10 units
GSBS6450 Banking and Finance Not currently offered 10 units
GSBS6460 Economic Transformation in Asia Pacific Economies Not currently offered 10 units
GSBS6470 Behavioural Economics for Decision Making Not currently offered 10 units

Directed Courses

Choose 30 units from the following directed courses.

Code Name Availability Units
GSBS6012 Entrepreneurship and Innovation Trimester 1 - 2017 (City Precinct)
Trimester 1 - 2017 (Sydney Elizabeth Street)
Trimester 2 - 2017 (GradSchool)
Trimester 3 - 2017 (City Precinct)
Trimester 3 - 2017 (Sydney Elizabeth Street)
10 units
GSBS6040 Human Resource Management Trimester 1 - 2017 (Singapore) (Singapore)
Trimester 1 - 2017 (City Precinct)
Trimester 1 - 2017 (Sydney Elizabeth Street)
Trimester 1 - 2017 (GradSchool)
Trimester 2 - 2017 (Singapore) (Singapore)
Trimester 2 - 2017 (City Precinct)
Trimester 2 - 2017 (Sydney Elizabeth Street)
Trimester 2 - 2017 (GradSchool)
Trimester 3 - 2017 (Singapore) (Singapore)
Trimester 3 - 2017 (City Precinct)
Trimester 3 - 2017 (Sydney Elizabeth Street)
Trimester 3 - 2017 (GradSchool)
10 units
GSBS6041 Global Marketing Strategy and Planning Trimester 1 - 2017 (City Precinct)
Trimester 1 - 2017 (Sydney Elizabeth Street)
Trimester 2 - 2017 (GradSchool)
Trimester 3 - 2017 (City Precinct)
Trimester 3 - 2017 (Sydney Elizabeth Street)
10 units
GSBS6130 Corporate Finance Trimester 2 - 2017 (City Precinct)
Trimester 2 - 2017 (Sydney Elizabeth Street)
Trimester 3 - 2017 (GradSchool)
Trimester 1 - 2017 (GradSchool)
10 units
GSBS6200 Accounting and Financial Management Trimester 1 - 2017 (City Precinct)
Trimester 1 - 2017 (Sydney Elizabeth Street)
Trimester 2 - 2017 (Singapore) (Singapore)
Trimester 2 - 2017 (City Precinct)
Trimester 2 - 2017 (Sydney Elizabeth Street)
Trimester 2 - 2017 (GradSchool)
Trimester 3 - 2017 (Singapore) (Singapore)
Trimester 3 - 2017 (City Precinct)
Trimester 3 - 2017 (Sydney Elizabeth Street)
Trimester 1 - 2017 (Singapore) (Singapore)
10 units
GSBS6481 International Business Strategy Trimester 2 - 2017 (City Precinct)
Trimester 2 - 2017 (Sydney Elizabeth Street)
10 units
GSBS6484 Corporate Governance and Social Responsibility Trimester 1 - 2017 (Singapore) (Singapore)
Trimester 1 - 2017 (GradSchool)
Trimester 2 - 2017 (City Precinct)
Trimester 2 - 2017 (Sydney Elizabeth Street)
Trimester 3 - 2017 (Singapore) (Singapore)
Trimester 3 - 2017 (GradSchool)
10 units

Additional Information

All students can access additional learning development mechanisms provided by the Centre for Teaching and Learning.

Aboriginal and Torres Strait Islander students can draw on the assistance and support provided by the Indigenous Student Support and Development service through The Wollotuka Institute.

Learning Outcomes

  • Communicate effectively, (a) orally and/or (b) in writing, complex economics information to a variety of audiences.
  • Work effectively (a) independently or (b) in collaboration, to apply specialised knowledge and expert judgement to economics tasks.
  • Engage in critical thinking and analytical problem solving to justify sound economic solutions.
  • Demonstrate specialised knowledge of theories, models and concepts relevant to professional economics and be proficient in their application.
  • Display proficiency in the utilisation of information and technology in economic contexts.
  • Apply economic decision making skills that incorporate understanding of ethical, social and global issues.
  • Apply relevant theories, principles and methodologies to research in professional economics.

Credit Transfer

If you wish to apply for credit for studies completed at another institution, or if you are changing programs within the University and wish to transfer your credit to the new program, visit the University’s credit website and click on ‘How to Apply for Credit’.

International Students

All International Students enrolled in the program will be provided with an orientation to familiarise them with the rules, expectations, facilities and services offered by the University. Please visit our International Students website to find out more about the support services available to international students.

Special Needs

AccessAbility provides advice and reasonable adjustments to Students with a medical or health condition or disability. If you require adjustments to undertake your program,  contact the Student Support Advisors - AccessAbility  before semester or early in the semester. They will work with the Faculty or School to ensure that this happens in a timely manner.

Please note: All students must fulfil the inherent requirements of the programs and courses they are undertaking. While reasonable adjustments can be made, these adjustments cannot compromise academic integrity. It is the student’s responsibility to check all the requirements of courses, and consider the effects of any medical condition or disability on their ability to complete course requirements. More information is available online

Study a Language

All domestic students can now enrol in an undergraduate Diploma in Languages alongside their main degree program. This diploma will enhance proficiency in another language or languages, and will increase international career opportunities. Subject to course availability, this additional program will generally add an extra year to studies, and students will graduate with a Diploma in Languages as well as their other degree. Please note that all language courses are held on campus (face to face) at Callaghan.

International students cannot enrol concurrently in the Diploma in Languages unless they can complete both their principal program and the Diploma in Languages within the duration of their CoE. For more information please contact the Student Advice team.

For more information about this program

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For all enquiries, please call 1800 882 121

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For all email enquiries, please email gs@newcastle.edu.au