Labour market demand for qualified economists in Australia is projected to almost double for the five-year period up until 2017, so it is important to ensure our economics students are graduating with a qualified standard of skills.
The Australian Government commissioned the development of learning standards in economics for higher education under an Office for Learning and Teaching (OLT) Senior Fellowship. ABDC and the Economics Society of Australia also funded this project. A working party of senior academic economists, under the leadership of Professor Ross Guest from Griffith University, developed the learning standards for Australian economics degrees at bachelor and masters level in 2013. This working party received high-level advice from an Economics Expert Advisory Group, chaired by Professor Allan Layton from the University of Southern Queensland.
After a broad consultation process with the economics academic and practitioner communities in Australia, the resulting Economics Standards for Australian Higher Education provide a valuable benchmarking resource for economists, economics researchers and economics educators - especially when designing economics degrees or evaluating performance or intended learning outcomes, as required under the Higher Education Standards Framework. For more details see project summary and media release.
In May 2014 the project team received a $30,000 OLT extension grant to build a pool of innovative, high quality assessment tasks, which are categorised under one or more of the five Economic Learning Standards.
Final Learning Standards