Master of Health Economics

2021 Deakin University Handbook

Note: You are seeing the 2021 view of this course information. These details may no longer be current. [Go to the current version]

Year	2021 course information
Award granted	Master of Health Economics
Course Map	These course maps are for new students commencing from Trimester 1 2021: Major Project Option Minor Project Option These course maps are for new students commencing from Trimester 2 2021: Major Project Option Minor Project Option These course maps are for new students commencing from Trimester 3 2021: Major Project Option Minor Project Option Course maps for commencement in previous years are available on the Course Maps webpage or please contact a Student Adviser in Student Central.
Campus	Offered at Burwood (Melbourne)
Cloud Campus	Yes
Duration	1 – 2 years full time or part-time equivalent, depending on Recognition of Prior Learning
CRICOS course code	085214E Burwood (Melbourne)
Deakin course code	H704
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.

Course sub-headings

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.

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.

Indicative student 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.

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

Career opportunities

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

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.

Alternative Exit Points

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

H504 Graduate Certificate of Health Economics consisting of 4 credit points

H604 Graduate Diploma of Health Economics consisting of 8 credit points

Fees and charges

Fees and charges vary depending on your course, the type of fee place you hold, your commencement year and your study load. To find out about the fees and charges that apply to you, visit the Current students fees website or our handy Fee estimator to help estimate your tuition fees.

Course Learning Outcomes

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.

Course rules

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.