The time and cost can be reduced based on your previous qualifications and professional experience. This means you can fast track the masters degree from 2 years down to 1.5 years. See entry requirements below for more information.
Turn data into evidence-based decisions that influence positive change in the healthcare system by studying the Master of Health Economics. Graduate with advanced skills in resource allocation and economic modelling, and use your expertise to inform policy and health practices on a global scale.
Are you ready to realise your career potential by joining one of the largest and most prominent health economics programs in Australia?
The Master of Health Economics is designed for clinical and non-clinical health professionals who want to improve healthcare systems from the top down. It’s also ideal for those from finance backgrounds hoping to use their knowledge of economics to create healthier, happier communities. If you’re looking for a health economics program that’s well-established, renowned for its academic research and led by teachers at the very forefront of the field, this is the course to take your career forward.
At its core, the course teaches you how to maximise health benefits and outcomes from available resources. To do this, you will develop expertise across a number of specialised skills, including:
- resource allocation
- economic modelling and evaluation
- health technology assessment
- priority setting
- healthcare financing
- policy analysis.
These techniques arm you with knowledge that allows you to make evidence-based decisions that improve the way healthcare systems operate. These are skills that are crucial to your career success. You might be asked to prepare a cost-benefit analysis comparing two different pieces of medical equipment; or you might employ economic modelling to shape health insurance policies that impact thousands. You will graduate with the ability to critically evaluate current research in economic policy, understand the complexities of healthcare financing and make influential contributions to health policy development and debate. Whatever challenges your future role throws at you, you will have the skills needed to make confident, informed choices.
Practical learning opportunities further prepare you for your rise through the sector. Through the course’s project component, you will work with Deakin Health Economics’ active research team to contribute to ongoing research in economic evaluation, finance or policy. There are minor and major research options available, each of which train you in the critical analysis, communication and data translation skills demanded of the modern health economist.
The work-integrated learning elective Postgraduate Health Practicum is a highlight of the course and allows you to undertake 150 hours of industry experience. This can be an agency-based work placement with an approved organisation, or agency-sponsored work based at the Deakin Freelancing Hub. Placement provides valuable professional development opportunities, while giving you the chance to apply your new skills in an area of health you’re passionate about. You will also get to work alongside experienced economists and build networks that kickstart your career growth once you graduate.
Throughout the course you will be guided by some of the brightest and most experienced health economics academics in the country. Our team is one of the largest in Australia and all our academics are active contributors to the field. The insights gathered from their work and research feeds back into the course, ensuring content is fresh, authentic and relevant to the needs of the sector. We have academics embedded in many renowned healthcare organisations and institutes, across many different roles, so you will have access to the perfect mentor no matter your interests and career aspirations.Read More
- Award granted
- Master of Health Economics
2024 course information
- Deakin code
- CRICOS code?
- 085214E Burwood (Melbourne)
- Higher Degree Coursework (Masters and Doctorates)
- Approval status
This course is approved by the University under the Higher Education Standards Framework.
- Australian Qualifications Framework (AQF) recognition
The award conferred upon completion is recognised in the Australian Qualifications Framework at Level 9.
To complete the Master of Health Economics students must attain 16 credit points. Most units are equal to 1 credit point - check each unit in the course structure.
The 16 units must comprise:
- 8 credit points of core units (these are compulsory)
- If completing Minor Project Option (2 credit points), students must complete 6 credit points of course elective units, plus the minor project
- If completing Major Project Option (4 credit points), students must complete 4 credit points of course elective units, plus the major project
Students would normally complete the Master of Health Economics over 4 trimesters of full- time study or the part-time equivalent. As some students will be in full-time work, part-time enrolment will mean that these students will complete the course in three to four years.
Students may enrol in the course in either Trimester 1, 2 or 3. It is recommended that students take the minor or major project in their last one or two trimesters.
International on-campus students who commence in Trimester 2 or Trimester 3 intakes pursuing the Major Project stream are required to enrol into Trimester 3 of their second year in order to complete the course within their CoE course duration.
All commencing Faculty of Health Undergraduate and Postgraduate course work students are required to complete DAI001 Academic Integrity Module (0-credit-point compulsory unit) in their first trimester of study.
Students are required to meet the University's academic progress and conduct requirements.
All students must complete the following eight core units and one zero credit point unit:
Students must complete a minor or major project option:
Minor Project Option
Plus 6 of the course electives below
Major Project Option (for students with a Weighted Average Mark (WAM) 70%*)
Plus 4 of the course electives below
*WAM applies to core units
Other electives may be approved on an individual basis. Course Director approval is required.
Intakes by location
The availability of a course varies across locations and intakes. This means that a course offered in Trimester 1 may not be offered in the same location for Trimester 2 or 3. Check each intake for up-to-date information on when and where you can commence your studies.
Additional course information
Domestic students enrolled in this postgraduate coursework program may be eligible for student income support through Youth Allowance and Austudy.
Further information can be found at Deakin University's Fees website.
Course duration may be affected by delays in completing course requirements, such as accessing or completing work placements.
In the Faculty of Health you will be expected to spend 11-13 hours every week studying, interacting online and completing assessment tasks for each unit in your course.
Limited places are allocated based on an interview process and academic merit.
Ask a question about studying at Deakin
Selection is based on a holistic consideration of your academic merit, work experience, likelihood of success, availability of places, participation requirements, regulatory requirements, and individual circumstances. You will need to meet the minimum course entry requirements to be considered for selection, but this does not guarantee admission.
Depending on your professional experience and previous qualifications, you may commence this course with admission credit and complete your course in 1.5 years full-time (3 years part-time).
1.5 years full-time (or part-time equivalent) - 12 credit points
To be considered for admission to this degree (with 4 credit points of admission credit applied*) you will need to meet at least one of the following criteria:
- completion of a bachelor degree or higher in a related discipline
- completion of a bachelor degree or higher in any discipline, and at least two years' of relevant work experience (or part-time equivalent)
- evidence of academic capability judged to be equivalent
2 years full-time (or part-time equivalent) - 16 credit points
To be considered for admission to this degree (without admission credit applied*) you will need to meet at least one of the following criteria:
- completion of a bachelor degree or higher in any discipline
- evidence of academic capability judged to be equivalent
*Credit for recognition of prior learning will still be considered on a case-by-case basis. Learn more below.
English language proficiency requirements
To meet the English language proficiency requirements of this course, you will need to demonstrate at least one of the following:
- bachelor degree from a recognised English-speaking country
- IELTS overall score of 6.5 (with no band score less than 6.0) in each component of test
- other evidence of English language proficiency (learn more about other ways to satisfy the requirements)
Not sure if you can get into Deakin postgraduate study? Postgraduate study doesn’t have to be a balancing act; we provide flexible course entry and exit options based on your desired career outcomes and the time you’re able to commit to your study.
Recognition of prior learning
The University aims to provide students with as much credit as possible for approved prior study or informal learning.
You can refer to the Recognition of prior learning system which outlines the credit that may be granted towards a Deakin University degree and how to apply for credit.
Fees and scholarships
Learn more about fees and your options for paying.
The available fee places for this course are detailed above. Not all courses at Deakin have Commonwealth supported places available. The 'Estimated tuition fee' is provided as a guide only based on a typical enrolment of students completing the first year of this course. The cost will vary depending on the units you choose, your study load, the length of your course and any approved Recognition of prior learning.
One year full-time study load is typically represented by eight credit points of study. Each unit you enrol in has a credit point value. The 'Estimated tuition fee' is calculated by adding together eight credit points of a typical combination of units for your course.
You can find the credit point value of each unit under the Unit Description by searching for the unit in the Handbook.
Learn more about fees and available payment options.
What is FEE-HELP?
FEE-HELP loans cover up to 100% of tuition fees for eligible students. By taking out a FEE-HELP loan, the government pays your tuition fees directly to Deakin, and the balance is repaid from your employment income - but only once you're earning over $51,550.
Please note: fees shown by the calculator are indicative only and based on 2024 rates. Actual fees may vary. We advise confirming fees with Prospective Student Enquiries prior to enrolment.
Estimate your FEE-HELP
per pay cycle
after FEE-HELP and tax
per pay cycle
Your estimated FEE-HELP repayments
- $* is the estimated full cost for a Master of Health Economics (16 credit points), based on the 2024 fees.
- is the annual FEE-HELP payment, based on your current salary
- of your current salary be spent on FEE-HELP
Deakin University (Deakin):
- gives no warranty and accepts no responsibility for the currency, accuracy or the completeness of the information provided;
- advises users that no reliance should be placed upon on the information provided, and;
- instructs users that they should confirm the actual course fee with Prospective Student Enquiries prior to enrolment.
This tool provides indicative information about the fees that will be payable in respect of courses and subjects offered to prospective students domiciled in Australia during the periods indicated.
Please note that the fees shown by the calculator are indicative only and actual fees may vary. Users are advised to confirm the actual course fee with Prospective Student Enquiries prior to enrolment.
The estimated course fee is based on the tuition fee costs applicable to a domestic full time student commencing the course in Trimester 1 and studying full time for the duration of the course but:
- does not include non-tuition costs that may apply, such as Student Services and Amenities Fees (SSAF);
- does not take into account any scholarships or bursaries awarded to the student (including the 10% Deakin alumni discount);
- assumes the maximum number of units that need to be successfully completed actual number completed may be reduced if recognition of prior learning is granted;
- assumes that no exceptional, or non-typical, circumstances apply to the proposed course of study;
- assumes that the options that the user selects are appropriate for the course of study that they intend to undertake;
- where fees are estimated for future years those fee will be subject to annual increases in accordance with increases in the cost of course delivery.
A Deakin scholarship might change your life. If you've got something special to offer Deakin – or you just need the financial help to get you here – we may have a scholarship opportunity for you.
If you’re a Deakin alumnus commencing a postgraduate award course, you may be eligible to receive a 10% reduction per unit on your enrolment fees.
Some of our courses have limited places available - for the latest on courses still open for application, visit Courses by trimester.
Create an account in the Deakin Application Portal, start your application, enter personal details, education experience, upload supporting documents and submit. Need help? Play this video, or contact one of our friendly future student advisers on 1800 693 888 or submit an online enquiry.
For more information on the application process and closing dates, see the How to apply webpage. If you're still having problems, please contact us for assistance.
Tap image to expand
A 'same discipline' award for this course is in health economics, a 'related discipline' award for this course is Master of Public Health (MPH), Master of Business Administration (MBA), master in health management, public policy or applied economics.
- Graduate Certificate of Health Economics (H504)
- Graduate Diploma of Health Economics (H604)
Our friendly advisers are available to speak to you one-on-one about your study options, support services and how we can help you further your career.
The health sector is Australia’s largest and fastest-growing*. With more jobs and an increased demand for skilled health professionals, you will have more opportunities to take your career forward.
Use your specialised skills and extensive practical experience to confidently explore roles in:
- pharmaceutical and health technology industries
- health insurance
- hospitals, community health organisations and healthcare management
- international health organisations such as WHO, UNDP, OECD, the World Bank Group and the Asian Development Bank
- government departments such as Health and Treasury and the Productivity Commission
- non-government agencies, research institutes and think tanks
- corporate consulting firms.
In addition to the diverse career options this course opens up, graduates also have the opportunity to join Deakin’s leading health economics academics by progressing to a PhD.
* Australian Government National Skills Commission Industry Employment Outlook 2021
Graduates may be eligible for membership with the following professional bodies:
- Australian Health Economics Society
- Health Services Research Association of Australia and New Zealand
- International Health Economics Association
Course learning outcomes
Deakin's graduate learning outcomes describe the knowledge and capabilities graduates can demonstrate at the completion of their course. These outcomes mean that regardless of the Deakin course you undertake, you can rest assured your degree will teach you the skills and professional attributes that employers value. They'll set you up to learn and work effectively in the future.
Graduate Learning Outcomes
Course Learning Outcomes
Discipline-specific knowledge and capabilities
Demonstrate knowledge of the implications of organisational structure, delivery and financing of healthcare services from an economic perspective, including implications for efficiency, equity and access.
Communicate health economic issues to specialist and non-specialist audiences using written reports, oral presentation and digital communication, including:
Critically evaluate available digital sources of health and health systems data, for systematic reviews, economic modelling and health policy and priority setting recommendations.
Critically evaluate applied economic and conceptual frameworks used in health economics to analyse the effects of political, social and economic policies on health systems and community health, and apply analytic methods including evidence-based research, cost-effectiveness, and decision analyses to inform resource allocation and policy initiatives.
Independently analyse contemporary health problems from an economic perspective and formulate options for health system reform.
Demonstrate effective self-management skills, autonomy and accountability that contribute to the development of lifelong learning and professionalism in the area of health economics.
Demonstrate knowledge of their role as a health economist to work effectively within health economics and multidisciplinary teams.
Apply the principles of health economics, evidence-based economic evaluation and priority setting to problems in global health and the strengthening of health systems.