Key facts
Duration
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 duration. See entry requirements below for more information.
Locations
Current Deakin Students
To access your official course details for the year you started your degree, please visit the handbook
Course overview
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 MoreCourse information
- Award granted
- Master of Health Economics
- Year
2024 course information
- Deakin code
- H704
- CRICOS code?
- 085214E Burwood (Melbourne)
- Level
- Higher Degree Coursework (Masters and Doctorates)
- Australian Qualifications Framework (AQF) recognition
The award conferred upon completion is recognised in the Australian Qualifications Framework at Level 9.
Course structure
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.
Core units
All students must complete the following eight core units and one zero credit point unit:
Course Electives
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.
Trimester 1 - March
- Start date: March
- Available at:
Trimester 2 - July
- Start date: July
- Available at:
Trimester 3 - November
- Start date: November
- Available at:
Additional course information
Income support
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
Course duration may be affected by delays in completing course requirements, such as accessing or completing work placements.
Mandatory student checks
Any unit that contains work integrated learning, a community placement or interaction with the community may require a National Police Record Check, a Working with Children Check or other check. Please refer the relevant unit guide.
Workload
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.
Work experience
Limited places are allocated based on an interview process and academic merit.
Entry requirements
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 academic and English language proficiency 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).
Academic requirements
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)
Admissions information
Learn more about Deakin courses and how we compare to other universities when it comes to the quality of our teaching and learning.
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 are 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
Fee information
Learn more about fees and your options for paying.
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 tuition fees.
Scholarship options
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.
Postgraduate bursary
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.
Apply now
Applications can be made directly to the University through StudyLink Connect - Deakin University's International Student Application Service. For information on the application process and closing dates, see the How to apply web page.
Fill out the application form and submit to a Deakin International office or take your application form to a Deakin representative for assistance
For information on the application process and closing dates, see the How to apply webpage.
If you’re still having problems, please contact Deakin International for assistance.
Entry pathways
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.
Alternative exits
- Graduate Certificate of Health Economics (H504)
- Graduate Diploma of Health Economics (H604)
Careers
Career outcomes
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
Professional recognition
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. |
| Communication | Communicate health economic issues to specialist and non-specialist audiences using written reports, oral presentation and digital communication, including:
|
| Digital literacy | Critically evaluate available digital sources of health and health systems data, for systematic reviews, economic modelling and health policy and priority setting recommendations. |
| Critical thinking | 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. |
| Problem solving | Independently analyse contemporary health problems from an economic perspective and formulate options for health system reform. |
| Self-management | Demonstrate effective self-management skills, autonomy and accountability that contribute to the development of lifelong learning and professionalism in the area of health economics. |
| Teamwork | Demonstrate knowledge of their role as a health economist to work effectively within health economics and multidisciplinary teams. |
| Global citizenship | Apply the principles of health economics, evidence-based economic evaluation and priority setting to problems in global health and the strengthening of health systems. |
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