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| Economic Society of Australia | |
|---|---|
| Name | Economic Society of Australia |
| Formation | 1925 |
| Type | Professional association |
| Headquarters | Australia |
| Region served | Australia |
Economic Society of Australia The Economic Society of Australia is a professional association for economists in Australia, fostering research, discussion, and public engagement through publications, conferences, and policy commentary. Founded in 1925 with links to international bodies, the Society connects academic and applied practitioners across Australian states and territories, hosting events and awarding prizes that intersect with institutions and individuals influential in economic thought. It collaborates with universities, think tanks, and government advisory bodies to shape public debate and scholarly agendas.
The Society was established in 1925 amid intellectual currents that involved figures and institutions such as John Maynard Keynes, Alfred Marshall, University of Melbourne, University of Sydney, Reserve Bank of Australia, Commonwealth Bank of Australia, and Australian National University. Early meetings attracted scholars associated with Trinity College, Cambridge, Balliol College, Oxford, London School of Economics, University of Cambridge, and University of Oxford, alongside practitioners from Commonwealth Scientific and Industrial Research Organisation, Australian Treasury, New South Wales Treasury, and state universities. Throughout the 20th century the Society engaged with debates referencing works by Milton Friedman, Friedrich Hayek, Paul Samuelson, John Hicks, Kenneth Arrow, Robert Solow, Amartya Sen, and institutions such as International Monetary Fund, World Bank, Organisation for Economic Co-operation and Development, and United Nations agencies. Postwar growth saw connections to policy episodes involving Sydney Harbour Bridge financing, Wartime Reconstruction, Menzies Government, Whitlam Government, Hawke Government, Keating Government, Howard Government, and fiscal debates with input from Productivity Commission, Australian Competition and Consumer Commission, Australian Securities and Investments Commission, and private sector firms like BHP and Commonwealth Bank of Australia.
Governance follows models used by professional bodies such as Royal Society of Victoria, Australian Academy of Science, Academy of the Social Sciences in Australia, and university learned societies at University of Queensland, Monash University, University of Western Australia, University of Adelaide, and University of Tasmania. The Society is managed by an elected council and executive officers resembling governance at Reserve Bank of Australia boards and advisory committees from Australian Treasury and state treasuries. Committees mirror those at Productivity Commission inquiry panels and international counterparts like Royal Economic Society and American Economic Association, covering research, conferences, membership, and ethics with procedures analogous to Australian Institute of Company Directors guidance. The Society’s constitution and by-laws reflect practices seen in Legal Aid Commission of NSW governance and professional codes as in Australian Medical Association and Law Council of Australia.
Membership comprises academics from University of New South Wales, University of Technology Sydney, Australian National University, Macquarie University, Griffith University, policymakers from Australian Treasury, Reserve Bank of Australia, Department of Finance, and private sector economists from firms like Macquarie Group, Commonwealth Bank of Australia, ANZ, and Westpac. The Society maintains state and territory chapters mirroring structures in Law Society of New South Wales, Victorian Bar, Queensland University of Technology affiliates, and cultural institutions such as State Library of New South Wales. Student and early-career networks reflect graduate groups at Trinity College, University of Melbourne, St John's College, University of Sydney, and research centres like Centre for Economic Policy Research (CEPR), Institute for Fiscal Studies, and Grattan Institute. Chapters coordinate with professional associations including Australian Statistical Conference and sector bodies like Energy Consumers Australia and Australian Housing and Urban Research Institute.
The Society issues journals, newsletters, and working papers comparable to publications from Economic Record, Australian Economic Review, Journal of Economic Literature, and policy briefs akin to outputs from Grattan Institute, Centre for Independent Studies, Australian Productivity Commission reports, and think tanks such as Lowy Institute. Regular activities include seminars, panel discussions, and webinars featuring speakers from University of Melbourne, London School of Economics, Harvard University, Massachusetts Institute of Technology, Stanford University, Yale University, and government economists from Treasury and Reserve Bank of Australia. Publications reference methodologies and debates linked to scholars like Thomas Piketty, Joseph Stiglitz, Paul Krugman, Daron Acemoglu, Esther Duflo, and Angus Deaton, and engage with empirical datasets held by Australian Bureau of Statistics, World Bank, IMF, and OECD.
Annual conferences attract presenters affiliated with Australian National University, University of Melbourne, University of Sydney, international centres including NBER, CEPR, IZA Institute of Labor Economics, and policy institutions such as World Bank, International Monetary Fund, Asian Development Bank, and ASEAN research networks. Events have hosted panels on topics connected to episodes like Global Financial Crisis (2007–2008), Asian Financial Crisis, COVID-19 pandemic, Climate change negotiations, and infrastructure programs paralleling debates over National Broadband Network, Snowy Mountains Scheme, and urban policy initiatives with input from Infrastructure Australia. Workshops collaborate with research centres like CAMA, Melbourne Institute, Bankwest Curtin Economics Centre, and industry associations including Business Council of Australia.
The Society administers prizes and recognition similar to awards such as the John Bates Clark Medal, Nobel Memorial Prize in Economic Sciences, Hayek Prize, and national honors analogous to those given by Australian Academy of Science and Academy of the Social Sciences in Australia. Awards recognize research linked to scholars like C. B. Fisher, policy impact on budgets influenced by Paul Keating era reforms, and lifetime achievement reflecting careers at Reserve Bank of Australia, Treasury, and major universities. Scholarships support study at institutions such as University of Oxford, University of Cambridge, Harvard University, and Princeton University.
The Society influences policy debates through submissions and forums engaging with Australian Treasury, Reserve Bank of Australia, Productivity Commission, Commonwealth Grants Commission, and parliamentary committees such as those in the Australian Parliament. Research promoted by the Society intersects with fields at Australian Bureau of Statistics, international organisations like IMF and World Bank, and academic networks including NBER and CEPR. Contributions have informed fiscal and monetary discussions during periods involving inflation targeting regimes, responses to the Global Financial Crisis (2007–2008), climate policy deliberations comparable to Paris Agreement negotiations, and analyses of labour markets connected to Fair Work Act 2009 debates and industrial relations reforms championed in episodes like the Accord (1983). The Society’s role in mentoring researchers and shaping public discourse links it to centres of excellence at ANU Crawford School, Melbourne Institute, and policy-oriented think tanks such as Grattan Institute and Lowy Institute.
Category:Professional associations based in Australia