Master of Health Economics

Postgraduate coursework

Boost your career prospects in health with a Master of Health Economics. Learn the analytical and quantitative skills to understand health care financing.

Key facts

English language requirements

IELTS overall score of 6.5 with no individual band score less than 6 (or equivalent). More information is available at www.ielts.org

Duration

2 years full-time or part-time equivalent, depending on your entry point

Campuses

  • Burwood
  • Cloud
Cloud (online)

Current Deakin Students

To access your official course details for the year you started your degree, please visit the handbook

Course 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.

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’ll 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’ll 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’ll 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’ll also get to work alongside experienced economists and build networks that kickstart your career growth once you graduate.

Throughout the course you’ll 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’ll have access to the perfect mentor no matter your interests and career aspirations.

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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 core units (equal to 8 credit points) (These are compulsory)
  • If completing Minor Project Option, students must complete 6 electives units.
  • If completing Major Project Option, students must complete 4 electives units.

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 or 2. It is recommended that students take the minor or major project in their last one or two trimesters.

All commencing Faculty of Health Undergraduate and Postgraduate course work students are required to complete HAI010 Academic Integrity in their first trimester of study (0 credit point compulsory unit).

Students are required to meet the University's academic progress and conduct requirements. Click here for more information.

Core units

All students must complete the following eight core units and one zero credit point unit:

  • Academic Integrity (0 credit points)
  • Health Economics 1
  • Economic Evaluation 1
  • Biostatistics 1
  • Health Technology Assessment 1
  • Resource Allocation and Priority Setting
  • Economic Evaluation - Theory and Practice
  • Economics for Managers
  • Epidemiology 1
  • Electives

    Students must complete a minor or major project option: 

    Minor Project Option

  • Minor Project A (1 credit point)
  • Minor Project B (1 credit point)
  • Plus 6 of the electives below

    Major Project Option (for students with a Weighted Average Mark (WAM) 70%*)

  • Major Project A (2 credit points)
  • Major Project B (2 credit points)
  • Plus 4 of the electives below

    *WAM applies to core units 

  • Health Economics in a Global Context
  • Financing Health Care
  • Economic Modelling
  • Economics and Health Policy Analysis
  • Biostatistics 2
  • Global Health Policy and Planning
  • Comparative Health Systems
  • Epidemiology 2
  • Postgraduate Health Practicum
  • Other electives may be approved on an individual basis. Course Director approval is required.

    Key information

    Award granted
    Master of Health Economics
    Year

    2021 course information

    Deakin code
    H704
    CRICOS code?
    085214E
    Level
    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.

    Campuses by intake

    Campus availability varies per trimester. This means that a course offered in Trimester 1 may not be offered in the same location for Trimester 2 or 3. Read more to learn where this course will be offered throughout the year.

    Trimester 1 - March

    Trimester 2 - July

    Trimester 3 - November

    Additional course information

    There are two alternative exit points available from H704 Master of Health Economics:

    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 - additional information

    Course duration may be affected by delays in completing course requirements, such as accessing or completing work placements.

    Mandatory student checks

    Any unit which 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. Refer the relevant unit guide.

    Workload

    In the Faculty of Health you will be expected to spend 11-13 hours every week studying, interacting via CloudDeakin and completing assessment tasks for each unit in your course.

    Work experience

    HSH760 International Perspectives on Health and Social Development.

    Limited places are allocated based on an interview process and academic merit.

    Entry requirements

    Entry information

    Deakin University offers admission to postgraduate courses through a number of Admission categories. To be eligible for admission to this program, applicants must meet the course requirements.

    All applicants must meet the minimum English language requirements.

    Please note that meeting the minimum admission requirements does not guarantee selection, which is based on merit, likelihood of success and availability of places in the course.

    For more information on the Admission Criteria and Selection (Higher Education Courses) Policy visit the Deakin Policy Library

    Entry will be based on performance in:

    • a Bachelor degree or other qualification at a higher AQF level in any discipline

    OR

    • other evidence of academic capability judged to be equivalent

    Recognition of prior learning

    The University aims to provide students with as much credit as possible for approved prior study or informal learning which exceeds the normal entrance requirements for the course and is within the constraints of the course regulations. Students are required to complete a minimum of one-third of the course at Deakin University, or four credit points, whichever is the greater. In the case of certificates, including graduate certificates, a minimum of two credit points within the course must be completed at Deakin.

    You can also 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

    Estimated tuition fee - full-fee paying place

    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.

    Search or browse through our scholarships

    Postgraduate bursary

    If you’re a Deakin alumnus commencing a postgraduate award course, you may be eligible to receive a 15% reduction per unit on your enrolment fees. Your Immediate Family Members may also be eligible to apply for this bursary.

    Learn more about Deakin’s 15% postgraduate bursary

    Apply now

    How to apply

    Apply through Deakin

    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. Please note that closing dates may vary for individual courses.

    Deakin International office or Deakin representative

    Fill out the application form and submit to a Deakin International office or take your application form to a Deakin representative for assistance

    Need more information on how to apply?

    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

    If you have a Graduate Certificate in same discipline or related discipline, you may be eligible for credit for up to 4 credit points (units), which means you can complete in 1.5 years full-time, or part-time equivalent. If you have a Graduate Diploma in same discipline or related discipline, you may be eligible for credit for up to 8 credit points units), which means you can complete in 1 year full-time, or part-time equivalent. If you have a Masters degree in related discipline, you may be eligible for credit for up to 10 credit points (units), which means you can complete in less than 1 year full-time, or part-time equivalent.

    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.

    Why choose Deakin

    Career outcomes

    The health sector is Australia’s largest and fastest-growing*. With more jobs and an increased demand for skilled health professionals, you’ll 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.

    *Industry Employment Projections 2019 Report, Department of Employment, Skills, Small and Family Business

    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:

    • health systems analysis, methods and results of economic appraisal and priority setting exercises;
    • demand and supply of health care;
    • rationale for government intervention;
    • socioeconomic influences on health; and
    • technology assessment.

    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.