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The Department of Economics is the leading economics department in Australia. The Department has 44 teaching and research staff, 11 of whom are Professor, and it includes the Centre for Actuarial Studies, one of only four actuarial teaching units in Australia recognised by the Institute of Actuaries of Australia as a Centre of Excellence. The Department also hosts research centres in economic theory, macroeconomics, micro-econometrics, and Asian economics.

The Department of Economics is committed to achieving the highest standards in teaching and research in economics and econometrics. It makes a significant contribution to international knowledge through publications in leading international journals, and by undertaking international quality research on the Australian economy and economic policy issues. Academic staff in the Department are regularly called upon to provide advice and expert opinions to business and government, present papers at Australian and international conferences and contribute to public policy debate. They also serve on government inquiries and boards, and undertake work for a variety of international agencies.