Master of Professional Economics programme postgraduate SME meeting on 31/05/2016

Adrian Slack – Programme director

Debbie Turner – Senior Administrator

Paul, Jane and Nick

Background

Programme started 3 years ago

Still building student numbers

Prompted by Government Economics Network (GEN)/Treasury demand. GEN is around to develop capability and spread the word about economics.

The initial focus was on policy wonks, also business. 

For content and language Adrian recommends looking at the brochure: http://www.victoria.ac.nz/vbs/study-careers/publications/MPE.pdf

Not 'applied economics' which is econometrics.

Entry

A background in economics, a BComm with a bit of microeconomics, a bit of macroeconomics - not transformational like MPA, they need to already have an idea of economics.

If people are just short of the requirements he'd like them to get in touch

Programme attributes

Course-based Master's

Not a step to a PhD ('terminal qualification' - yikes)

Don't do evening courses but do weekend courses.

Summer block courses 2-2.5 day or 4 day blocks

Need to overcome prospective students apprehension that they won't be good enough. In the future they are going to developer a summer bootcamp approach to help prepare students - currently students can do an online course through MIT/Kahn(sp?) Academy or the Programme gives them a test to check their standard.

Family/nesting

The Certificate is a 'gateway drug' - students can sell the cheaper certificate to their employer ($2k per course)

Most go on to do the PG Dip or Master's

Entry requirements are easier for the Cert and Dip

They use the term 'staircasing' but are not sure if students understand it

They let people do individual courses as a Certificate of Proficency

They use the term staircasing but don't feel it is well understood.

Benefits

Practical/applied (the term 'applied' could be confusing as it's sometimes used to mean 'econometrics')

Less about the mathematics, more about the practical - students need reassurance they'll be able to handle the maths (cf. Honours, which is 100% theory and applied maths)

Courses are very unusual (even unique) in New Zealand

1/3 theory 1/3 taught applications (case study), 1/3 hands-on applications

Case study (taught application) teaches them how to choose the right tool. This is done at the macro level, they look at data from Statistics NZ and discuss what changes would occur in different scenarios. They utilise the multiplier model and do a mock economic assessment.

Hands-on includes things like time in the computer lab, or using Excel to build economic analysis tools - practical but campus-based - don't have placements yet but aiming to get good connections with industry

Develops your career - role is now requiring them to work in a more strategic way. 

Adds economics to your toolkit

Flexibility - Adrian does his best to accommodate student needs, describes the programme as 'demand driven'

Very different from other NZ Uni's, it isn't the high-art of a PhD, it aims to generate students who are useful to a business, teach them to think from the clients' point of view. What does a good economics forecasting report look like?

You can do courses from other qualifications (e.g. Applied Finance)

Can start in any trimester though it's usually 1 and 2, they don't recommend starting in Trimester 3. This is partly because for each course they are going to run they need a minimum of 20 students to make it worthwhile - this means they don't get enough numbers for Trimester 3 and they also don't want to dilute demand out across all three trimesters. 

Top staff

Peer networks

Draws on maths but not mathematical. Require less maths than other economics programmes

They will schedule courses based on the interests of the cohort or individual student or on current environment - visual business intelligence gurus workshop run through PED was turned into a course, Disaster Economics (CHCH), Asian miracle economics

Students

25% international (full time or exchange), 75% domestic

Usually done a BCom (requirement) in they want to get into Masters. 

Don't have to have work experience but without it you aren't likely to do aswell. 

Currently 20-25 EFTS but they are aiming for 50 EFTS.

They have 5-10 graduates - Sam Garell, done very well

Domestic

Almost all part-time

From law, big engineering firms, private public partnerships, lots from Statistics and MPI and other government departments. There are fewer from government than expected as GEN didn't want to be seen as too closely tied to programme/Victoria - they wanted to maintain their neutral status. GEN does also run courses bu tthese are very basic (100 level) so they aren't in competition).

Many are employer-funded

Common questions

Entry requirements (especially from international students) - Will I get in?

Can I get in? It isn't a science they deal with each candidates case individually.

People stories

Adrian has a student in mind for a story which shows how demand driven they are