4 leading universities in APAC shaping the next economics experts

Studying advanced economics is crucial for understanding and addressing complex issues that affect societies everywhere. It equips us with sophisticated analytical skills to assess economic policies, market behaviours, and financial systems, all of which are crucial in a world striving to create a more sustainable future for all.

In India, for instance, implementing the Goods and Services Tax (GST) required a deep understanding of economic principles and statistical techniques. Economists used advanced models to predict the GST’s impact on different sectors of the economy and on different groups of people, guiding policymakers in making data-driven decisions.

Over in Singapore, we have what is arguably the world’s most successful economy. What was once an impoverished resource-scarce island is now one of the world’s wealthiest countries. It is a case study pored over by the rest of the developing world seeking to lift themselves out of poverty. And the most important reasons for its success remain a source of debate: was it the encouragement of foreign direct investment, the low level of income and corporate taxes, the heavy government involvement in housing and education, or some other factor?

For a high-impact career where a sophisticated understanding of these issues is important, you need a postgraduate degree that will equip you with the expertise, network, and credentials to become a successful economist.

Intrigued? Here are four universities educating the leading economists of the future:

The NUS Department of Economics is one of Asia’s largest and leading economics departments. Source: National University of Singapore

National University of Singapore

The Department of Economics at the National University of Singapore (NUS) is the largest and one of the highest ranked economics departments in Asia. Ranked first in Asia and 10th globally  for Business & Economics by the US News and World Report 2024, it is home to over 50 faculty members whose expertise spans all the major areas of the discipline. This department is celebrated for the quality of its teaching and research.

The department offers a Master of Economics programme with specialisations in Applied and Quantitative Economics. Comprising 10 courses, including three core courses and seven electives, the programme can be completed in just one year. Students immerse themselves in cutting-edge economic analysis and quantitative methods, benefiting from the vast resources of a world-class university.

A major in economics is not necessary to join this programme, though successful applicants are typically from leading universities graduating at or near the top of their class. Thus, students benefit not only from the expertise of the faculty but also from the calibre of their classmates. The programme’s graduates secure attractive positions in government agencies, investment banks, and consulting firms in the region (including Singapore itself) while those who wish to remain in academia win doctoral positions in top universities worldwide.

In order to attract the best students, the programme offers generous financial support in the form of full scholarships (covering fees and including stipends) as well as tuition fee rebates of up to 50%.

Learn more about the programme.

University of Sydney’s economics programmes consistently rank in Australia’s top five. Source: University of Sydney/Facebook

University of Sydney

At the University of Sydney‘s Faculty of Arts and Social Sciences, you’ll find Australia’s oldest and most comprehensive faculty in its field. It’s a global leader in humanities and social sciences, offering a learning environment that is socially aware, academically rigorous and embraces diversity in our technology-driven, globalised world.

Zoom in further, and you’ll find the School of Economics, which is well-known for its economics programmes that consistently rank among the top five in Australia. With a strong tradition of research excellence, it is also highly regarded worldwide for its economics research. One such programme is the Master of Economics, designed for those with or without a background in economics. This programme equips you with the skills to address practical problems in business and government, and course length varies based on your prior knowledge of economics.

For those with a solid foundation in economics or mathematics, the Master of Economic Analysis provides advanced training and a pathway to research degrees, like a PhD. If you want to explore economics without committing to a full master’s programme, you can start with a graduate certificate or diploma.

The faculty’s academics and researchers are experts in their fields, offering deep insights into key economic concepts and contemporary issues. You’ll join a network of alumni that includes a former Prime Minister, several NSW premiers, and leaders in major financial institutions and policy departments.

What’s more, the university offers scholarships, such as the Australia Awards, to help support your postgraduate studies.

The Chinese University of Hong Kong ranks eighth in Asia and 48th globally in Economics and Econometrics (QS World University Rankings by Subject 2021 ). Source: Chinese University of Hong Kong/Facebook

Chinese University of Hong Kong

The Department of Economics at the Chinese University of Hong Kong (CUHK) is renowned for its cutting-edge research on the Chinese economy and internationally trained faculty. It is one of Asia’s top institutions for studying economics. The department’s postgraduate programmes aim to develop skilled economists and professionals with strong analytical and creative abilities to meet the challenges of a dynamic world.

CUHK’s strategic location provides easy access to key business and financial centres within a 30 to 40 minute commute. Whether you pursue your career opportunities in Hong Kong’s international financial hub, leverage its proximity to the dynamic city of Shenzhen, or engage with scholars, the postgraduate programmes are tailored to bring you closer to your professional goals.

The department offers four postgraduate programmes: MPhil and PhD in Economics, MSc in Economics, and MSc in Applied Economics (a double-degree programme in collaboration with Northwestern University). The MPhil and PhD programmes focus on research, equipping you with theoretical and empirical skills for independent academic research, with approximately 20 students admitted annually from a global applicant pool. The MSc in Economics provides comprehensive economic analysis training for those pursuing careers in business or further academic study.

Beyond classroom instruction, the pedagogy includes independent research, weekly guest seminars, company visits, industry forums, and career workshops.

That’s not all. Scholarships are awarded to exceptional applicants and high-performing students. Over the past nine years, over $ .3 million in scholarships have been distributed, covering up to half of the total tuition fees for outstanding students.

The Department of Economics at the University of Auckland has been a part of the university for nearly a century and is home to many distinguished New Zealand economists. Source: University of Auckland/Facebook

University of Auckland

Founded in 1883, the University of Auckland is New Zealand’s largest university, with over 40,000 students, nearly 10,000 of whom graduate annually. For nearly a century, the Department of Economics has been an integral part of the university, producing many of the country’s distinguished economists, including A.W.H. “Bill” Phillips, known for the famous “Phillips curve,” which illustrates the relationship between inflation and unemployment.

Here, a diverse range of undergraduate and postgraduate programmes in Economics are housed within the Business School, the Faculty of Arts, and the Faculty of Science. This interdisciplinary approach allows students significant flexibility in customising their academic experience. The postgraduate curriculum includes courses such as Microeconomic Theory, Industrial Organisation, Macroeconomic Theory and Policy, Topics in Money, Banking and Finance, and Econometrics.

You learn all these from a faculty that comprises scholars from around the globe, each holding doctorates from renowned universities. Their teaching and research interests span a wide array of fields, including behavioural economics, health and wellbeing, environmental economics, industrial organisation, international trade, macroeconomics, and finance, ensuring a comprehensive and dynamic educational environment.

Thus, it’s little wonder graduates have achieved success in organisations such as ANZ, the World Bank, the US Federal Reserve, the Reserve Banks of New Zealand and Australia, the New Zealand Treasury, Bain & Company, and Macquarie Bank. Many graduates have also pursued further studies at institutions like the University of Chicago, Columbia University, Oxford University, and Yale University.

*Some of the institutions featured in this article are commercial partners of Study International