Monash Business School is home to one of the leading departments of Economics.
Since the 1970s, the term "Monash Economics" has been widely used to describe the liveliness and rigour inherent in our activities. We have demonstrated a strong track-record of excellence over the last 40 years. Our excellent international reputation is supported by our ranking or rating of:
- a rating of 4 (which is above world standard) in the latest Excellence in Research for Australia (ERA) report for Economics
- no. 1 in the Asia-Pacific region for cognitive and behavioural economics; and development economics (RePEc)
The Department boasts more than 50 tenured economists undertaking work in virtually all major fields of economics.
Leading research and reputation
We have a vibrant research atmosphere in both theoretical and applied economics. Our particular strengths lie in development economics, behavioural and experimental economics, and macroeconomics. However, even within these broad areas, there is considerable heterogeneity in topics and techniques used.
Members of the department work individually and in collegiate teams, within the department and with other units of the Business School. A number of department members work collaboratively with colleagues in other universities, both in Australia and internationally.
Our Department also maintains particularly strong ties with the Centre for Development Economics and Sustainability, the Centre for Health Economics and the Monash Sustainability Institute. We have established other collaborative networks such as the South Asia Research Network (SARN) and the Monash Experimental Research Insights Team (MERIT), which further ensure the positive impact of our high calibre research.
Members of the Department have a distinguished publication record in numerous leading field journals as well as general interest journals, including the profession's most prestigious outlets. We also house excellent facilities. Our Monash Laboratory for Experimental Economics (MonLEE) laboratory enables us to complement field and artefactual field experiments with lab based activities.
Excellence in economic education
Economics provides training in logical thought and analysis which can be applied widely in every-day decision making, not just to matters that are usually labelled 'economic'. It was recognition of the meteoric rise of a new grouping of economists who emphasised the influence of economic policies on a rapidly changing world.
Continuing in this spirit, our Department's overarching goal is to prepare our students with a range of career options that are readily adapted to the issues of the day. These may be positions in industry, government, or in non-government and international organisations.
We achieve this by providing training in logical thought and flexible analytical skills which can be applied widely in every-day decision making – not just to matters which are typically labelled 'economics'.