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Students who commenced study in 2016 should refer to this course entry for direction on the requirements; to check which units are currently available for enrolment, refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course.

Monash University

Postgraduate - Course

Commencement year

This course entry applies to students commencing this course in 2016 and should be read in conjunction with information provided in the 'Faculty information' section of this Handbook by the Faculty of Business and Economics.

Unit codes that are not linked to their entry in the Handbook are not available for study in the current year.

Course code


Credit points


Abbreviated title


Managing faculty

Business and Economics


Associate Professor Duncan Mortimer

Contact details


Admission and fees

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Course type

Graduate certificate

Standard duration

1 year PT

Part-time study only

Mode and location

Off-campus (Clayton)


Graduate Certificate of Pharmacoeconomics


  • This course is not available to international students who are holders of an Australian student visa, for study onshore in Australia. However holders of some other categories of Australian visas living in Australia, and students studying off-campus by distance learning (where this option is available) and living outside of Australia, may be eligible for this course.


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.


These course outcomes are aligned with the Australian Qualifications Framework level 8, the Bologna Cycle 1 and Monash Graduate AttributesAustralian Qualifications Framework level 8, the Bologna Cycle 1 and Monash Graduate Attributes (

Upon successful completion of this course it is expected that graduates will:

  1. be critical and creative scholars who:
    • produce innovative solutions to health economics problems
    • apply research skills to health system challenges
    • communicate effectively and perceptively
  2. be responsible and effective global citizens who:
    • engage in an internationalised world
    • exhibit cross-cultural competence
    • demonstrate ethical values
  3. 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
  4. 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.


This course consists of four units.


Students must complete:

(a.) three units (18 points) as follows:

  • ECC5970 Introduction to health economics
  • ECC5971 Pharmaceutical economics
  • MPH5020 Introduction to epidemiology and biostatistics

(b.) one of the following units (6 points):

  • ECC5973 Economic evaluation in health care
  • ECC5974 Applied health economics and health policy
  • ECC5975 Principles of health economics for developing countries

Progression to further studies

Students who successfully complete the Graduate Certificate in Pharmacoeconomics, may be eligible for admission to course 3807 Graduate Diploma in Health Economics and Policy subject to satisfying the appropriate entry requirementsentry requirements (