Graduate Careers

Agricultural economist

Main tasks
Agricultural economists study and apply economic principles to the management and use of resources in the agricultural industry. They may perform the following tasks:

• conduct research into factors affecting farm costs and returns
• examine ways of increasing the income of primary producers
• advise on the use of natural resources
• conduct economic research and modelling into areas such as livestock production, field crops, winemaking etc.
• monitor and report on domestic and international agricultural, political and economic developments that may affect Australia’s agricultural industry.

Key skills

• analytical and research capability
• logical thinking
• good oral and written communication skills
• strong mathematics skills
• the ability to communicate complex concepts and ideas in simple terms
• report-writing skills.

Salary
According to The Good Universities Guide 2009, the starting salary for economics graduates is around $45,446. After a few years in the workforce agricultural economists earn around $70,000. Senior agricultural economists and those with substantial experience can earn up to $200,000.

Employment prospects
Broadly speaking, according to the Department of Employment and Workplace Relations’ Australian jobs 2008, job prospects for economists are currently good but unemployment is high. Employment growth to 2012–13 is expected to be decline.

Main employers
Agricultural economists are commonly employed in the public sector, in federal and state government departments. They may also be employed in economic consulting or research firms, or in private corporations.

Find out more
The Economic Society of Australia, www.ecosoc.org.au
International Association of Agricultural Economists, www.iaae-agecon.org

Back to top

Econometrician

Main tasks
Econometricians use economic theory and mathematical and statistical techniques (such as calculus, game theory and regression analysis) to analyse economic data and develop mathematical models for economic and financial forecasting and policy analysis. They may perform the following tasks:

• feed data on possible future economic situations into models to determine the likely results and wider implications of particular actions
• advise industry on possible costs resulting from decisions and business practice
• advise government on policy and policy outcome.

Key skills

• strong mathematical and statistical knowledge and understanding
• logical thinking
• excellent oral and written communication skills
• the ability to communicate complex concepts and ideas in simple terms
• report-writing skills.

Salary
According to The Good Universities Guide 2009, the starting salary for economics graduates is around $45,446. After just a few years in the workforce econometricians can earn around $60,000 or more. Senior econometricians and those with substantial experience can earn in excess of $150,000.

Employment prospects
Broadly speaking, according to the Department of Employment and Workplace Relations’ Australian jobs 2008, job prospects for economists are currently good. However, unemployment is high, and employment growth to 2012–13 is expected to decline.

Main employers
Econometricians may work in the public sector for federal and state government departments, in private corporations or in economic consulting or research firms.

Find out more
The Economic Society of Australia, www.ecosoc.org.au

Back to top

Environmental economist

Main tasks
Environmental economics used to be on the periphery of the economics discipline but is quickly becoming mainstream due to growing concern for the environment. Environmental economists study the environmental impact of projects and developments, and advise industry and government on environmental and natural resource management. They may perform the following tasks:

• advise government on its responsibilities relating to international environmental agreements and treaties
• advise industry about future potential environmental impacts
• feed data on possible future environmental situations into models to see the likely results and wider implications.

Key skills

• analytical and research capability
• the ability to communicate complex concepts and ideas in simple terms
• good oral and written communication skills
• strong mathematics skills
• good abstract thinking
• report-writing skills.

Salary
According to The Good Universities Guide 2009, the starting salary for economics graduates is around $45,446. After a few years in the workforce environmental economists can earn around $70,000. Senior environmental economists and those with substantial experience can earn up to $200,000.

Employment prospects
Broadly speaking, according to the Department of Employment and Workplace Relations’ Australian jobs 2008, job prospects for economists are currently good but unemployment is high. Employment growth to 2012–13 is expected to decline.

Main employers
Environmental economists may find work in the private sector in large corporations, in government departments or in economic consulting or research firms.

Find out more
The Economic Society of Australia, www.ecosoc.org.au
Association of Environmental and Resource Economists, www.aere.org

Back to top

Labour market economist

Main tasks
Labour market economists study the economic aspects of proposed government policy and its potential effect on the labour market. They may perform the following tasks:

• recommend improvements in techniques for settling labour disputes
• advise government, industry and private organisations on issues relating to labour, disputes and related problems
• study labour legislation, unemployment benefits, industrial accident provisions, trade unions and related subjects and assess their impact on the labour market
• study the relationships and dynamics between workers and employers and the resulting pattern of wages, employment and income.

Key skills

• analytical and research capability
• the ability to communicate complex concepts and ideas in simple terms
• good oral and written communication skills
• strong mathematics skills
• good abstract thinking
• report-writing skills.

Salary
According to The Good Universities Guide 2009, the starting salary for economics graduates is around $45,446. After a few years in the workforce labour market economists can earn around $70,000. Senior labour market economists and those with substantial experience can earn up to $200,000.

Employment prospects
Broadly speaking, according to the Department of Employment and Workplace Relations’ Australian jobs 2008, job prospects for economists are currently good but unemployment is high. Employment growth to 2012–13 is expected to decline.

Main employers
Labour market economists are commonly employed in the public sector, in federal and state government departments. They may also be employed in private corporations or in economic consulting or research firms.

Find out more
The Economic Society of Australia, www.ecosoc.org.au

Back to top

Mineral economist

Main tasks
Mineral economics is a highly specialised field. It combines the economics, finance, management, legal and regulatory aspects of the minerals and energy sector with a technical knowledge of exploration, mining and processing. Mineral economists will typically complete undergraduate engineering programs before specialising in mineral economics at graduate level. Mineral economists may perform the following tasks:

• evaluate the financial aspects of new and established mineral industry projects
• study the economics of mineral markets
• study economic policy surrounding the mineral industry
• analyse the legal and regulatory aspects of the mineral industry.

Key skills

• analytical and research capability
• the ability to communicate complex concepts and ideas in simple terms
• technical knowledge of geology, mining methods and mineral processing
• good oral and written communication skills
• strong mathematics skills
• report-writing skills.

Salary
According to The Good Universities Guide 2009, the starting salary for engineering graduates is around $51,887. After a few years in the workforce mineral economists can earn around $70,000. Senior mineral economists and those with substantial experience can earn in excess of $150,000.

Employment prospects
Broadly speaking, according to the Department of Employment and Workplace Relations’ Australian jobs 2008, job prospects for economists are currently good but unemployment is high. Employment growth to 2012–13 is expected to decline.

Main employers
Mineral economists typically work for mining and energy producers, financial institutions, consulting firms, or in the public sector for government agencies.

Find out more
The Economic Society of Australia, www.ecosoc.org.au

Back to top