Article – Hobsons Guide

The Benefits of studying Business, Management, Economics and Law in Australia

In today’s fast paced and globally-connected world, an international education is seen as extremely advantageous. When questioned by Hobsons UK about the benefits of employing students who have studied overseas, many companies agreed that this experience to be a clear advantage for new graduates looking to join the international workforce. It can give students additional skills, such as greater independence and self confidence and a greater ability to adapt and cope in times of crisis. It can also install in them a broader global perspective and knowledge base and the ability to interact on a professional level across all international and cultural divides.

Australia is already recognised as one of the best places to study, with some of the best universities in the world. When Asiaweek, an influential international magazine recently ran a survey to rank universities in the Asia Pacific region, Australia beat all fifteen of the countries being surveyed, including Japan and Korea. Two Australian universities came in the top ten, with eight overall in the top fifty. Asia Inc’s recently poll of the best business schools in the region also ranked three Australian universities in the top ten, taking both 1st and 2nd place. Overall nine of Australia’s MBA programs were ranked amongst the top twenty-five.

Australian MBA courses offer a truly international perspective on the world of Business and Management, specialising in areas such as Asia-Pacific business strategy, global trade and international business. This focus on the local and regional market place will instantly make new graduates more versatile and suitable to those companies looking to recruit within the region. These companies include leading international organizations like GE Healthcare, Business Council of Australia, Coles Myer, Origin Energy, Crown Limited and Macquarie Bank.

The high percentage of Australia’s MBA’s who have gone on to pursue successful international careers across a wide range of industries, ranging from Banking, Finance, Insurance and IT to Manufacturing, Construction and Resources, are evidence of the international recognition that Australian MBA courses and qualifications receive.

Students looking to perhaps pursue a career in banking, trading, consultancy, stock broking or international trade, can have their pick of the many excellent Economics courses on offer across the country, all taught by internationally recruited and highly qualified staff. With a 98% employment or further study rate, an Australian Economics degree rightly deserves its outstanding reputation and worldwide recognition.

Several leading banks who operate in both Singapore and Malaysia, recently visited Australia to recruit new staff. From the final-year students at Monash University who were interviewed, eighteen were immediately offered positions as Trainee Bank Officers. This is a reflection of both the first-rate standards of the courses available and the high regard with which Economics graduates in Australia are held.

Australia is also home to some of the worlds’ finest and most internationally acclaimed Law Schools, all of which offer excellent programs and research opportunities with other faculties. Special emphasis is placed on international law and the qualifications gained are highly respected throughout the legal community.

This is demonstrated by the exceptionally high number of graduates who are awarded postgraduate scholarships to prestigious overseas universities, such as Rhodes and Fulbright. In the last seven years, five Rhodes Scholars were awarded to the University of New South Wales alone. Internships at top international organisations including the World Bank in Washington and the United Nations in Geneva have also given students the benefit of exposure to the world of international law; an invaluable opportunity for any new graduate.

It is little wonder that Australia has become such a firm favourite as a study destination, with so many new students arriving every year. Already famous for its sandy beaches, cosmopolitan cities and kangaroos, Australia also offers the ultimate student package. The diverse and multicultural society made up of people from 170 countries around the world, means that international students will always be made to feel welcome, safe and right at home. Add to that the wide range of courses, low cost of living, affordable fees and high post graduate employment rate, and students are finding that the world class education and lifestyle on offer are second to none.

According to Australian Education International, the total number of new international students enrolling (as of the end of March 2005) rose to 244,504, an increase of 7% on the previous year. India and China are experienced the highest enrollment growth this year, at 22% and 42% respectively, followed by South Korea, Hong Kong, Malaysia, Indonesia, Japan, Thailand, Singapore and the USA.

For the 191,112 new students enrolling from across the Asia Pacific region this year, Australia seems to be the next stepping stone for higher education. With the large existing Asian community offering an instant support system and the connivance of cheap regional airlines, students coming from across Asia are finding the transition much easier to make.

There are further benefits for students who take a Business, Management, Economics or Law course that focuses on events, circumstances and developments across Asia. These graduates will find themselves in great demand by companies recruiting from across the Asian Pacific region as they will already be familiar with the relevant market place.

Anyone who doubts that an Australian education can serve as a passport to a successful future only has to look at the achievements of past graduates. Included are many of the today’s great thinkers, leaders and achievers; CEOs of global companies such as Coca Cola and McDonalds, the first Japanese Astronaut and many of the film stars now making it big in the bright lights of Hollywood.

There are countless men and women who have already excelled in the business, financial and legal world following their education in Australia. These include David Mackay, a business graduate from Charles Stuart University who became the President and Chief Operating Officer of Kelloggs and Jacques Nasser, a business graduate from RMIT University who went on to became the CEO of the Ford Motor Company.

An exceptional role model for all female students is Margaret Jackson, a Bachelor of Economics graduate from Monash University. Today she is the Chairman of Qantas Airways as well as a director of Billabong International, Qantas Airways and John Fairfax Holdings Ltd. She was also awarded Australia‘s highest honour in June 2003: a Qantas Airways, for service to business and the community.

Others strong role models include Pasuk Phongpaichit, the Thai economist with a reputation as one of Asia’s most courageous and outspoken scholars and Rameshwari Ramachandra, a Director with 3R Holdings in Singapore and now recognized as ‘one of the most influential women in Asia’ (Asiaweek, July 2001). Both of these women were also graduates of Monash Univeristy.

To maintain such a high level of success and a reputation for excellence in their educational system, is of paramount importance to the Australian Government.

The Australian International Education Foundation (AIEF), a joint collaboration between the Australian Government and Australian education and training providers works exclusively to internationally promote the high quality and standard of education, training and research opportunities available in Australia. Australia is also party to two treaty-level UNESCO Conventions – the Asia-Pacific Regional Recognition Convention and the Lisbon Recognition Convention, both of which work towards the international recognition of higher education qualifications around the world.

Most Australian universities today focus very heavily on ‘internationalising’. They are constantly looking to develop their international curricula and research collaboration and are always on the look out to recruit teaching staff who are renowned and respected leaders in their own field. There currently exists about 3,900 formal agreements between Australian universities and their overseas counterparts, focusing on student, research and academic links.

Student exchange programmes are also actively encouraged, helped in part by the Australian Qualifications Framework (AQF). The AQF structure is a national system of learning pathways linking universities, vocational education and training, and school education. It allows students to move easily from one level of study to the next and from one institution to another, subject to visa requirements.

All of these factors make the Australian education system what it is today. The international recognition of an Australian qualification is apparent not only in the rising number of students choosing to come to Australia, but also in the willingness of leading international universities to accept graduates from Australian universities for admission to postgraduate studies. Perhaps the greatest confirmation can be found in the high number of graduates who are gaining immediate employment within their chosen field, and going on to achieve successful careers in Australia, throughout Asia and across the rest of the world.

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