Health
Master of Health Economics
Learning Mode
Full Time
Duration
1.5 – 2 Years (depending on prior qualifications)
Start date
March, July, November
Qualification
Master Degree (AQF Level 9)
Fees
AUD 39,000
Location
Burwood (Melbourne)
About the Course
The Master of Health Economics at Deakin University is a specialised postgraduate program designed to equip you with advanced analytical skills to address complex economic challenges within the healthcare sector. This degree provides a deep understanding of how economic principles apply to health policy, resource allocation, healthcare financing, and the evaluation of health interventions. You will learn to critically analyse healthcare systems, assess efficiency, and contribute to evidence-based decision-making that improves health outcomes.
The curriculum covers core areas such as microeconomics and macroeconomics in health, health econometrics, health technology assessment, and pharmaceutical economics. You will develop expertise in quantitative analysis, economic modelling, and policy evaluation, applying these skills to real-world health scenarios. Deakin’s program is delivered by leading experts and researchers in health economics, ensuring you gain cutting-edge insights and practical skills highly valued by governments, healthcare providers, and research institutions.
Career prospects
Graduates of the Master of Health Economics are highly sought after in Australia and internationally by government health departments, health policy organisations, pharmaceutical companies, consulting firms, research institutes, hospitals, and international health agencies. You will be prepared for specialist and leadership roles that involve economic evaluation, policy analysis, resource planning, and strategic decision-making in the dynamic and critical healthcare sector.
Why choose Health Economics at Deakin?
Specialised expertise for a growing sector
Build in-demand skills in health economics, addressing global healthcare challenges where economic insights are increasingly essential.
Applied and policy-relevant focus
Gain practical, analytical tools to influence evidence-based policy, resource planning, and health program evaluation across diverse healthcare settings.
Flexible study options
Study online or on-campus with flexible options designed for professionals balancing education with work and personal commitments.
Course Overview
The Master of Health Economics (H704) at Deakin University is an 8 or 12-credit point (1.5 or 2-year full-time equivalent) postgraduate degree designed to provide advanced knowledge and skills in the application of economic principles to health and healthcare. The program is suitable for professionals seeking to specialised in health economics or for graduates wishing to pursue a career in health policy, planning, and evaluation.
The course structure typically includes:
- Core Economic Principles in Health: Units covering microeconomic and macroeconomic theories as applied to health, healthcare markets, and public health.
- Quantitative Methods for Health Economics: Advanced units in econometrics, statistical analysis, and economic modelling specific to health data.
- Health Policy and Evaluation: Focus on health technology assessment, pharmaceutical economics, health financing, and economic evaluation of health programs.
- Research Project or Capstone (optional/for 2-year entry): Opportunity to undertake an independent research project or an advanced case study applying economic principles to a significant health issue.
This interdisciplinary program develops strong analytical and problem-solving skills for the health sector.
Course Duration
Length of the course
- 2 years full-time (12 credit points) for students with a Bachelor’s degree (non-cognate) or equivalent.
- 1.5 years full-time (8 credit points) for students with a Bachelor’s degree in a cognate discipline (e.g., economics, public health, health sciences, commerce) or a relevant graduate certificate/diploma.
Mode of Study for international students:
- Full-time enrolment is generally required for international students studying onshore to comply with visa regulations. Online study may be an option for students studying from their home country.
Course Curriculum
The Master of Health Economics curriculum is structured to provide a deep understanding of economic theories and quantitative methods as applied to the complexities of health and healthcare systems.
- Core Health Economics and Quantitative Units These units form the foundation, covering essential economic principles and analytical tools. Examples include: Microeconomics for Health, Macroeconomics and Health, Health Econometrics, and Economic Evaluation in Health.
- Health Policy and Applied Economics Building on the core, this section delves into specific applications and policy challenges. Units might cover: Pharmaceutical Economics, Health Technology Assessment, Healthcare Systems and Financing, and Public Health Economics.
- Electives and Research (for 2-year program) Students in the 2-year program may have opportunities to select electives or undertake a research project (e.g., minor thesis) or an advanced capstone unit, allowing for deeper specialization or applied research.
Admission Requirements
Entry Criteria
- Academic qualifications Applicants must have successfully completed one of the following:
- A Bachelor’s degree (or equivalent qualification) in a cognate discipline (e.g., economics, public health, health sciences, commerce, statistics) with a minimum Weighted Average Mark (WAM) of 60% or equivalent, for the 1.5-year program.
- A Bachelor’s degree in any discipline with a minimum WAM of 60% or equivalent, for the 2-year program.
- A relevant Graduate Certificate or Graduate Diploma with a minimum WAM of 60% or equivalent.
- Prerequisite Knowledge (for 2-year program): Students entering the 2-year program without a cognate background may need to complete foundational units in economics or quantitative methods.
Language Proficiency
- English language requirements (e.g., IELTS, TOEFL) For international applicants, demonstrated proficiency in English is mandatory. This is typically evidenced by:
- IELTS Academic: Overall band score of 6.5, with no band less than 6.0.
- TOEFL iBT: Minimum score of 79, with specific minimum scores for reading (13), listening (12), speaking (18), and writing (21).
- PTE Academic: Overall score of 58, with no communicative skill score less than 50.
Fees and Funding
Tuition Fees:
- AUD 39,000 (Postgraduate – per 1 year full-time for international students).
Scholarships and Bursaries: Deakin University offers a range of scholarships and financial aid opportunities to support eligible students in their Master of Health Economics studies. These include:
- Deakin Vice-Chancellor’s Academic Excellence Scholarship: For high-achieving international students.
- Faculty of Health Scholarships: Specific scholarships offered by the Faculty of Health for postgraduate students demonstrating academic merit or research potential in health.
- Deakin HDR Scholarships: For students pursuing research components or pathways to PhD.
- Various other bursaries and support schemes are available, designed to assist students with their study costs and enhance their educational experience.
Career Opportunities
Potential job roles and industries Graduates of Deakin’s Master of Health Economics program are highly sought-after professionals, equipped with specialist analytical and economic skills to contribute to efficiency and equity in healthcare systems.
Common career paths include: Health Economist, Health Policy Analyst, Health Outcomes Researcher, Economic Evaluator, Pharmaceutical Economist, Public Health Planner, Health System Modeler, Health Data Analyst, and Consultant (specializing in health economics). These roles span government health departments, health organisations (e.g., hospitals, Medicare), pharmaceutical and medical device companies, consulting firms, research institutes, and international health agencies, offering impactful career trajectories dedicated to improving health outcomes and healthcare sustainability.
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