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A Guide on Studying Economics from Australia


Economics, sometimes called the "dismal science," is anything from dull when comprehending the complicated workings of global markets, government policies, and societal dynamics. Studying in Australia provides aspiring economists with a unique opportunity to delve deeply into this fascinating area while immersed in a diverse and dynamic environment. From top-tier colleges to lively cities, Australia offers an engaging environment for anyone interested in pursuing a career in economics. In this blog, we'll look at essential aspects, including scholarships for overseas students, student fees and living expenses, and the finest universities.

A Guide on Studying Economics from Australia
Source: National College, Trichy

Exploring A Guide on Studying Economics from Australia

Why Australia?

Australia has a reputation for intellectual quality, with numerous universities ranking among the world's top institutions in economics and related sciences. Institutions such as the University of Melbourne, Australian National University (ANU), and the University of Sydney provide challenging undergraduate and postgraduate programs taught by renowned faculty members who are experts in their disciplines. These programs address economic theories, quantitative analysis, and practical applications to prepare students for various economics careers.

Top Universities

According to QS World University Rankings 2023, some Australian universities excel in economics and related fields. Here are some of the highest-ranked universities:

Monash University:

Monash University, known for its cutting-edge research and business connections, provides dynamic economics programs focusing on practical skills and real-world applications. Its cutting-edge amenities and dynamic campus life improve the student experience.

Australian National University (ANU): 

ANU is well-known for its proficiency in social sciences and is frequently ranked as one of the top universities in the world for economics. Its research-intensive programs and world-class instructors draw students from all around the world.

University of Melbourne:

The University of Melbourne strongly emphasizes research and innovation and provides comprehensive undergraduate and postgraduate economics programs. Its tight relationships with businesses and the government give students significant networking opportunities.

University of New South Wales (UNSW Sydney):

The University of New South Wales (UNSW Sydney) UNSW Sydney is well-known for its creative teaching techniques and industry contacts, and it offers a variety of economics degrees that educate students for various careers. Its considerable emphasis on employability guarantees that graduates are in great demand among businesses.

University of Sydney:

The University of Sydney, a premier Australian university, provides various degrees in economics for today's global economy. Its multidisciplinary approach and dedication to academic achievement ensure that graduates are prepared for success.

Student Fees and Cost of Living

Tuition fees for overseas students vary by university, program, and degree of study. Undergraduate economics degrees typically cost between AUD 25,000 and AUD 40,000 per year, while postgraduate programs cost between AUD 30,000 and AUD 50,000 per year. However, checking with particular colleges for specific pricing systems is critical.

In addition to tuition fees, students must budget for living expenses such as housing, food, transportation, and other personal expenses. On average, students should anticipate spending roughly AUD 20,000 to AUD 30,000 per year on living expenses, which might vary based on the city and lifestyle.


Studying economics in Australia gives international students several chances, including renowned scholarships, world-class universities, and an excellent quality of life. By carefully evaluating scholarships, student fees, and institution rankings, aspiring economists may make educated judgments and begin on a successful academic adventure Down Under. With its rich culture, creative research environment, and growing economy, Australia is an ideal place for people interested in understanding the complexity of the global economy and moulding its future.

We know and understand that the application process can be overwhelming, so we are here for you. The study abroad experts at Hello Study Global are there for you every step of the way. From preparing for entrance exams to college applications, we will guide you to success.

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