About the Department of Econometrics and Business Statistics (EBS)
With about 30 full time academic staff, we have the largest concentration of econometricians and statisticians in a single department in Australia. We provide the quantitative training in all courses offered by the Faculty of Business and Economics, and we manage the Monash Actuarial Program, Master of Applied Econometrics and Honours and PhD Programs in Econometrics and Business Statistics.
Our research is ranked very highly. In the Excellence in Research for Australia assessment conducted by the Australian Research Council in 2012, Monash University received a rank of 5, which is the highest possible rank, in Econometrics. In the top 10% institutions in the field of Econometrics ranked by IDEAS (a Research Papers in Economics service maintained by the Federal Reserve Bank of St. Louis, USA) our department appears among the best institutions in the world. The Department of Econometrics and Business Statistics is designated by the University as an area of outstanding strength in research.
As a result of high impact research, several of our academic staff are elected as fellows of scientific academies and selected as editors and associate editors of international academic journals. Among our staff are:
- Fellows of the Academy of the Social Sciences in Australia: Professors Heather Anderson, Jiti Gao, Max King and Keith McLaren
- Australian Research Council Professorial Fellow: Professor Jiti Gao
- Australian Research Council Future Fellow: Professor Gael Martin
- Editor in Chief of the International Journal of Forecasting: Professor Rob Hyndman
- Co-Editor of Empirical Economics: Professor Heather Anderson
- Associate Editor of Journal of Econometrics: Professor Jiti Gao
- Associate Editors of Journal of Applied Econometrics: Professors Heather Anderson and Gael Martin
- Associate Editors of Journal of Time Series Analysis: Professors Jiti Gao, David Harris and Don Poskitt
- Associate Editors of Economic Record: Professors Heather Anderson and Lisa Cameron
- Associate Editor of Macroeconomic Dynamics: Professor Farshid Vahid
- Associate Editors of the Australian and New Zealand Journal of Statistics: Professors Jiti Gao and Farshid Vahid
- Associate Editor of the International Journal of Forecasting: Professor Gael Martin
History of the Department
Monash University has a long and proud association with the disciplines of Econometrics and Business Statistics, dating back to the foundation of the (then) Faculty of Economics and Politics in 1962. The foundation dean was Professor Don Cochrane, who in 1949 published with Guy Orcutt a pair of path-breaking articles presenting an ingenious method of estimating time series models – a method now known to generations of econometrics and statistics students as the "Cochrane-Orcutt procedure". Professor Cochrane provided an environment in which econometrics and business statistics flourished and in 1968 established Australia's first Chair in Econometrics, awarded to Professor Alan Powell. These developments led eventually to the creation of what is now the Department of Econometrics and Business Statistics, a department that is recognised worldwide for the quality of its teaching and research.