Master of Health Economics
2025 Deakin University Handbook
| Year | 2025 course information |
|---|---|
| Award granted | Master of Health Economics |
| Deakin course code | H704 |
| Faculty | Faculty of Health |
| Campus | Offered at Burwood (Melbourne) |
| Online | Yes |
| Duration | 1 - 2 years full-time or part-time equivalent, depending on Recognition of prior learning |
| Course Map - enrolment planning tool | These course maps are for new students commencing from Trimester 1 2025: Course maps for commencement in previous years are available on the Course Maps webpage or please contact a Student Adviser in Student Central. |
| CRICOS course code | 085214E Burwood (Melbourne) |
| 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
- Indicative student workload
- Professional recognition
- Career opportunities
- Mandatory student checks
- Alternative exits
- Course Learning Outcomes
- Course rules
- Course structure
- Work experience
- Research and research-related study
- Fees and charges
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.
Indicative student 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.
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 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
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.
Alternative exits
| Graduate Certificate of Health Economics (H504) | |
| Graduate Diploma of Health Economics (H604) |
Course Learning Outcomes
| Deakin 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. |
Course rules
To complete the Master of Health Economics students must pass 16 credit points and meet the following course rules to be eligible to graduate:
- DAI001 Academic Integrity and Respect at Deakin (0-credit-point compulsory unit) in their first study period
- 8 credit points of core units
- 8 credit points which may comprise of:
- 1 Minor Project (2 credit points), and 6 credit points of course electives
- 1 Major Project (4 credit points), and 4 credit points of course electives
Students are required to meet the University's academic progress and conduct requirements. See the enrolment codes and terminology to help make sense of the University’s vocabulary.
Note:
- 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 1 or 2 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.
Course structure
Core units
All students must complete the following eight core units and one zero credit point unit:
| DAI001 | Academic Integrity and Respect at Deakin (0 credit points) |
| HSH717 | Health Economics 1 |
| HSH719 | Economic Evaluation 1 |
| HSH744 | Epidemiology 1 |
| HSH746 | Biostatistics 1 |
| HSH761 | Health Technology Assessment 1 |
| HSH762 | Resource Allocation and Priority Setting |
| HSH764 | Economic Evaluation - Theory and Practice |
| MPE781 | Economics for Managers |
Course Electives
Students must complete a minor or major project option:
Minor Project Option
| HSH731 | Minor Project A (1 credit point) |
| HSH732 | Minor Project B (1 credit point) |
Plus 6 of the course electives below
Major Project Option
| HSH733 | Major Project A (2 credit points) |
| HSH734 | Major Project B (2 credit points) |
Plus 4 of the course electives below
| HSH703 | Health Promotion |
| HSH704 | Health Communication |
| HSH715 | Qualitative Health Research |
| HSH747 | Biostatistics 2 |
| HSH754 | Epidemiology 2 |
| HSH755 | Postgraduate Health Practicum |
| HSH760 | International Perspectives in Health and Social Development |
| HSH763 | Financing Health Care |
| HSH766 | Economics and Health Policy Analysis |
| HSH767 | Economic Modelling |
| HSH768 | Health Economics in a Global Context |
| HSH769 | Comparative Health Systems |
Other electives may be approved on an individual basis. Course Director approval is required.
Work experience
| HSH755 | Postgraduate Health Practicum |
| HSH760 | International Perspectives in Health and Social Development |
Limited places are allocated based on an interview process and academic merit.
Course duration
Course duration may be affected by delays in completing course requirements, such as failing of units or accessing or completing placements.
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.
Further information
Student Central can help you with course planning, choosing the right units and explaining course rules and requirements.
- Contact Student Central
Research and research-related study
Both the Major and Minor projects are research projects and research is also embedded in most core units and electives. These unit selections may allow you to apply to undertake further study such as a PhD.
Fees and charges
Fees and charges vary depending on the type of fee place you hold, your course, your commencement year, the units you choose to study, and their study discipline or your study load.
Tuition fees increase at the beginning of each calendar year and all fees quoted are in Australian dollars ($AUD). Tuition fees do not include textbooks, computer equipment or software, other equipment or costs such as mandatory checks, travel and stationery.
For further information regarding tuition fees, other fees and charges, invoice due dates, withdrawal dates, payment methods visit our Current students website.