The Economics Discipline at RMIT has a strong record of high-impact economic research that informs academic, industry, and policy communities.
Drawing on analytical expertise in applied economics, econometrics, and economic theory, we tackle critical societal challenges in Australia and internationally. Our strengths span behavioural and experimental economics, cultural economics, development and international economics, regional markets, welfare economics, and the economics of digital disruption, leveraging both macroeconomic and microeconomic approaches.
We support a large cohort of Higher Degree by Research (HDR) candidates, equipping them with advanced skills to address complex problems. Our dynamic seminar program features innovative research and methodologies, and we actively disseminate findings through conferences and media outreach.
We are committed to producing research with significant societal impact. For further information, please contact our Head of Discipline, Professor Jingjing Zhang, at jingjing.zhang@rmit.edu.au
Latest Achievements
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Professor Sefa Churchill has been awarded a DECRA (Discovery Early Career Researcher Award) by the Australian Research Council.
The grant is worth over $300,000, which will support Professor Churchill to investigate energy poverty and policy responses in Australia.
Recent Projects
Project Case Study 1:
How societal data is improving financial well-being
Understanding the impacts of well-being is an important focus area for RMIT’s Societal Economics Group. Recognising that well-being is complex, RMIT economists have teamed up with NGOs, government departments as well as academics across various institutions to reveal important insights.
This is typified by a recent joint project with the Brotherhood of St Laurence as well as leading academics from Australian National University and University of Tasmania to explore the potential use of information housed within the Department of Social Services.This project received category 1 funding from the Australian Housing Urban Research Institute to explore the Commonwealth Rent Assistance (CRA) program.
The potential of the data was mapped providing valuable insights including that a considerable number of people received CRA payments either for less than 120 days or more than 15 years.
This investigation has been complemented by many other projects; this includes a recent special issue on Financial Capabilities and Wellbeing in Economic Papers which was noted by ASIC for being a: “… collection of important research with a strong emphasis on practical application of learnings that make a real difference to people seeking to improve their financial circumstances and to those who are trying to help them to do this.”[1]
Project Case Study 2:
How communication can enhance sustainable resource use
The scarcity of common resources, such as water, is set to become a more pressing and global problem in the future. How do we help better and fairer use of our shared resources? To find out, Professor Robert Hoffmann formed a project with international partners (page 36) that was funded by NESTA, the UK’s innovation agency for social good. The team used an online experiment using a custom-built experimental environment called “The Grid”. They wanted to see if they could reduce overexploitation of common resources by improving social connectivity within large groups: Would connected people be more likely to act in the best interests of their wider community, rather than themselves as individuals?
They found that communication and ties between people enhanced sustainable resource use and that these two factors mutually reinforce one another. However, external shocks reduced the ability of participants to stay within the threshold.
The policy implication of this project is that local communities can find ways to harness their collective intelligence to sustain their resources. Weak ties, where people are connected to others through mutual acquaintances are a powerful tool for spreading vital environmental information. Communication transmits not only information but also reinforces the social norms of using resources responsibly. The team are currently developing their software to explore other scenarios and factors in common resource use.
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Our Research Programs
Broad research specialisations covering economics and finance include microeconomics, macroeconomics, econometrics, finance, capital markets and financial institutions, financial instruments, international finance, risk management, international monetary economics and industrial economics.
Contact
Visit us
Address: Building 80, 445 Swanston Street, Melbourne, VIC-3000
Location: Melbourne City campus
Hours: Monday - Friday 9:00 - 17:00
Postal address
School of Economics, Finance and Marketing
GPO Box 2476
Melbourne 3001, Victoria, Australia
RMIT Connect
Information for current College of Business and Law students.
Address: Building 80, Level 7, 445 Swanston Street, Melbourne, VIC, 3000
Phone: +61 3 9925 5000
Hours: Monday - Thursday: 9am - 5pm, Friday: 10am - 5pm
People
Key contacts at the School of Economics, Finance and Marketing.
