Skip to content | Change text size
Handbooks Courses Units
Monash University

Graduate Certificate of Pharmacoeconomics

Course code: 2681 ~ Course abbreviation: GradCertPharmEc ~ Total credit points required: 24 ~ 1 year part-time ~ Managing faculty: Business and Economics

Study mode and course location

Off-campus (Clayton, Gippsland)

    Course description

This course is designed to provide an understanding of the economics of pharmaceuticals in health care systems. The course provides the skills necessary to apply economic analysis to the broad issues of industry development as well as the specific skills to: prepare a cost-effectiveness analysis of a drug; apply economic modelling to support the inclusion or exclusion of a drug on a national or hospital formulary; design a clinical trial to evaluate the efficacy and cost-effectiveness of drugs; and apply methods of evaluating health and non-health outcomes of drug use.

    Course structure

Course objectives

The learning goals associated with this course are to: describe the institutional arrangements for the financing and provision of pharmaceutical products in Australia; apply economic concepts and techniques such as economic evaluation in the evaluation of pharmaceuticals; apply the theory and techniques of economic evaluation and epidemiology to the design of an economic analysis alongside a clinical trial of a drug; develop an understanding of the concepts of health outcome measurement and its role in economic evaluation; apply the theory of decision analysis, Monte Carlo and Markov modelling to the evaluation of pharmaceuticals; relate the economic and social influences on global drug development and marketing including research and development, the role of patents, and the structure of the pharmaceutical industry.

Course requirements

Students must complete four core units (24 points):

  • ECX9120 Introduction to microeconomic theory and policy
  • ECX9700 Introduction to health economics
  • ECX9710 Pharmaceutical economics
  • ECX9720 Introduction to epidemiology and biostatistics

    Progression to further studies

Students who successfully complete the Graduate Certificate in Pharmacoeconomics, with a credit average or above, may be eligible for admission to the Graduate Diploma in Health Economics and Policy.

    Contact details

Centre for Health Economics: telephone +61 3 9905 0733; email:

Course coordinator

Ms Jennifer Watts