Labour Market Outcomes of Graduates in Economics in Australia*

IF 0.9 Q3 ECONOMICS
Ian Li, Andrew Williams, Ken Clements
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Abstract

The discipline of economics encompasses broad skillsets with diverse applications in employment markets and industries. Studies of labour market prospects for economics graduates are relatively dated particularly in the light of developments such as declining interest in economics in high school and university. This study examines the labour market outcomes of Australian economics graduates, at the bachelor and postgraduate levels, using a national dataset. We observe strong employment prospects for graduates in economics after graduation, in terms of full-time employment and salaries. Obtaining a postgraduate qualification appears to pay off, with master's and PhD graduates experiencing more favourable employment outcomes than bachelor's graduates. Substantial proportions report being overqualified for their jobs although this proportion is comparable to those reported for the broader Australian graduate labour market. Reassuringly, those initially overqualified transition out and overqualification reduces in the longer term. Most economics graduates become economists, but many others enter a wide array of other occupations. Of those who start out in non-economist professions, there is a 42 per cent chance that they transition to economist roles after 2.5 years. In summary, an economics degree leads to favourable employment and earnings and should still be considered an attractive choice for prospective students.

Abstract Image

澳大利亚经济学毕业生的劳动力市场结果*
经济学学科涵盖了广泛的技能,在就业市场和行业中有着不同的应用。对经济学毕业生劳动力市场前景的研究相对滞后,特别是考虑到高中和大学对经济学的兴趣下降等事态发展。这项研究使用国家数据集考察了澳大利亚经济学学士和研究生毕业生的劳动力市场结果。我们观察到经济学毕业生毕业后在全职就业和工资方面有着强劲的就业前景。获得研究生资格似乎是有回报的,硕士和博士毕业生的就业结果比学士毕业生更有利。相当一部分人报告说他们的工作资历过高,尽管这一比例与更广泛的澳大利亚毕业生劳动力市场的报告相当。令人放心的是,从长远来看,那些最初资历过高的人会退出,资历过高的情况会减少。大多数经济学毕业生都成为了经济学家,但也有许多人进入了广泛的其他职业。在那些刚开始从事非经济学家职业的人中,有42%的机会在2.5岁后转变为经济学家 年。总之,经济学学位可以带来有利的就业和收入,对未来的学生来说仍然是一个有吸引力的选择。
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来源期刊
Economic Papers
Economic Papers ECONOMICS-
CiteScore
2.30
自引率
0.00%
发文量
23
期刊介绍: Economic Papers is one of two journals published by the Economics Society of Australia. The journal features a balance of high quality research in applied economics and economic policy analysis which distinguishes it from other Australian journals. The intended audience is the broad range of economists working in business, government and academic communities within Australia and internationally who are interested in economic issues related to Australia and the Asia-Pacific region. Contributions are sought from economists working in these areas and should be written to be accessible to a wide section of our readership. All contributions are refereed.
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