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Monash University Handbook 2010 Postgraduate - Course

This course entry should be read in conjunction with information provided in the 'Faculty information' section of this Handbook by the Faculty of Business and Economics

Managing facultyBusiness and Economics
Abbreviated titleGradCertPharmEc
Total credit points required24
Standard duration of study (years)1 year PT
Study mode and locationOff-campus (Clayton)
Contact details

Centre for Health Economics

Telephone +61 3 9905 0733


Course coordinator

Ms Jennifer Watts


  • This course is not available to international student visa holders.


This course is designed to provide an understanding of the economics of pharmaceuticals in health care systems, and the skills required to apply economic analysis to the evaluation of products and the broad policy issues affecting the industry.

Areas of study include cost-effectiveness analysis of a drug, economic modelling to support the inclusion or exclusion of a drug on a national or hospital formulary, design of a clinical trial to evaluate the efficacy and cost-effectiveness of drugs, and methods of evaluating health and non-health outcomes of drug use.


The Graduate Certificate in Pharmacoeconomics aims to produce graduates who will:

(a.) be critical and creative scholars who:

  • produce innovative solutions to health economics problems
  • apply research skills to health system challenges
  • communicate effectively and perceptively

(b.) be responsible and effective global citizens who:

  • engage in an internationalised world
  • exhibit cross cultural competence
  • demonstrate ethical values

(c.) have a comprehensive understanding of their disciplines of economics and health economics and be able to provide discipline based solutions relevant to the business, professional and public policy communities we serve

(d.) have advanced knowledge to Graduate Certificate level in health economics and be able to:

  • demonstrate analytical skills in economics in an examination of the role of economic and social influences on global drug development, research and development, and the structure of the pharmaceutical industry
  • apply techniques of economic evaluation in the evaluation of pharmaceuticals.


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 (60 per cent) or above, may be eligible for admission to course 3807 Graduate Diploma in Health Economics and Policy.


Graduate Certificate of Pharmacoeconomics