Causes and Implications of the Decline of the Economics Majors: A Focus on Australia

Alauddin, Mohammad and Valadkhani, Abbas (2003) Causes and Implications of the Decline of the Economics Majors: A Focus on Australia. Journal of Economic and Social Policy, 7 2: 68-90.

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Author Alauddin, Mohammad
Valadkhani, Abbas
Title Causes and Implications of the Decline of the Economics Majors: A Focus on Australia
Journal name Journal of Economic and Social Policy
ISSN 1325-2224
Publication date 2003
Sub-type Article (original research)
Open Access Status File (Publisher version)
Volume 7
Issue 2
Start page 68
End page 90
Total pages 23
Place of publication Lismore, NSW, Australia
Publisher Southern Cross University, Centre for Policy Research
Collection year 2003
Subject C1
340299 Applied Economics not elsewhere classified
720299 Microeconomic issues not elsewhere classified
Abstract This paper analyses the causes and implications of declining economics major in Australia. Based on a brief review of the relevant literature and an analysis of the Australian time series data, it is found that economics continues to be less attractive to students in relative terms. Three major factors contribute to this phenomenon: less than appropriate product for an increasingly diverse clientele, the introduction of more attractive and business, commerce and industry-oriented programs such as finance, accounting and commerce, and business majors geared to the needs of the real world, and the use of less experienced teaching staff in lower undergraduate courses. It is argued that stemming the tide against the economics discipline would require a significant rethink of development of products more vocational and real world-oriented, market segmentation for different clientele types, and marshalling of more experienced and capable teaching staff for lower undergraduate levels.
Q-Index Code C1
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
2004 Higher Education Research Data Collection
School of Economics Publications
 
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Created: Wed, 15 Aug 2007, 02:06:35 EST