Welcome to a New School of Economics

1 January 2011

On 1 January 2011 the University of Sydney inaugurated a new School of Economics, at the same time disestablishing its Faculty of Economics and Business. Observers, friends, and graduates of the University, especially its economics graduates, may wonder why the University has taken these steps.

In the course of 2010 the University of Sydney engaged in a wide-ranging examination of its structures and practices, with a view to a comprehensive reform. A preliminary “Green Paper” formed the basis for deliberation and extensive consultation across the University, concerning its future directions and policy, which then led to a final “White Paper” mapping out a path forward in order for the University to better fulfil its proper mission.

One of the key aims enunciated within that larger reform was to strengthen, advance, and bring greater focus to, economics and econometrics research and education at the University of Sydney. It is with a view to this that the Faculty of Economics and Business, which had been established on 1 January 2000 (replacing the Faculty of Economics, established in 1920), has been replaced with a School of Economics, within a new Faculty of Arts and Social Sciences, and a Business School.

The School of Economics will be the primary source of economics and econometrics education at the University. It therefore will be the provider of economics and econometrics teaching to students enrolled in Business School degrees, as well as students in the economics degrees the University offers, and students in its social sciences and arts degrees. The School of Economics will therefore continue to be closely involved with business education, provided primarily by the new Business School, while at the same time engaging with research and education in the social sciences and the humanities.

The establishment of the School of Economics is a great new point of departure for the advancement of learning in economics and econometrics at the University of Sydney. The School will also provide an avenue for the University to strengthen its relationship with the economics alumni of the University, and various events to enable alumni and friends of the University to engage with the School are being planned.