The Melbourne Institute of Applied Economic and Social Research
Encyclopedia
The Melbourne Institute of Applied Economic and Social Research (often simply referred to as "The Melbourne Institute") is an Australia
n economic
research institute based in Melbourne
, Victoria
. The institute is a department of the Faculty of Business and Economics at the University of Melbourne
.
forecasting, financial economics
and social economics, and is best remembered for its work on poverty and the development of the Henderson Poverty Line
. The name of the institute was later changed to Institute of Applied Economic and Social Research (IAESR).
After the Henderson era, Professor Peter Dixon was appointed Director and after some restructuring, the new Melbourne Institute based its operation around Dixon's ORANI
model of the Australian economy. In the early 1990s Peter Dixon and a number of his senior colleagues left the institute to join Monash University
. This necessitated a second period of adjustment and restructuring initiated by Professor Richard Blandy who was Director from 1992 to 1994.
Professor Peter Dawkins, took up his position of Director in January 1996. In that year, the Director and his senior management team, in association with the staff and the advisory board, developed a strategic plan with the unifying theme being the link between economic performance and social outcomes. The first version of this plan was for the period 1996–2000 and it is updated annually. In that year, the name of the institute was changed to Melbourne Institute of Applied Economic and Social Research.
Professor John Freebairn
was appointed Director in 2005 and returned to the Department of Economics in 2007. Stephen Sedgwick, former Board member of the Asian Development Bank
was Director fron August 2007 until July 2009. In April 2010 Professor Deborah Cobb-Clark was appointed the Director and Ronald Henderson Professor.
(HILDA) household panel survey, a national longitudinal study of household economies, labour force participation and family change. It is also undertaking a panel study of General practitioner
s examining the determinants of medical workforce shortages, undertakes detailed labour market
research, is examining the relationship of poverty
and human capital
and examines the economic impacts of intellectual property
. The institute produces regular reports which track consumer sentiment and economic activity (both reports get widespread media comment in Australia), and annual rankings of the standing of Australian Universities and of individual disciplines. The institute hosts a biennial conference with a focus on economic performance and social outcomes. The institute has recently hosted a conference on changes needed in the Australian taxation system.
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n economic
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
research institute based in Melbourne
Melbourne
Melbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The Melbourne City Centre is the hub of the greater metropolitan area and the Census statistical division—of which "Melbourne" is the common name. As of June 2009, the greater...
, Victoria
Victoria (Australia)
Victoria is the second most populous state in Australia. Geographically the smallest mainland state, Victoria is bordered by New South Wales, South Australia, and Tasmania on Boundary Islet to the north, west and south respectively....
. The institute is a department of the Faculty of Business and Economics at the University of Melbourne
University of Melbourne
The University of Melbourne is a public university located in Melbourne, Victoria. Founded in 1853, it is the second oldest university in Australia and the oldest in Victoria...
.
History
The Melbourne Institute was formed in 1962 as the Institute of Applied Economic Research under the leadership of Professor Ronald Henderson. It was the first economic research institute in an Australian university. Henderson built up an organisation with about 40 staff by the early 1970s. It engaged in a wide range of research areas including macroeconomicMacroeconomics
Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of the whole economy. This includes a national, regional, or global economy...
forecasting, financial economics
Financial economics
Financial Economics is the branch of economics concerned with "the allocation and deployment of economic resources, both spatially and across time, in an uncertain environment"....
and social economics, and is best remembered for its work on poverty and the development of the Henderson Poverty Line
Poverty threshold
The poverty threshold, or poverty line, is the minimum level of income deemed necessary to achieve an adequate standard of living in a given country...
. The name of the institute was later changed to Institute of Applied Economic and Social Research (IAESR).
After the Henderson era, Professor Peter Dixon was appointed Director and after some restructuring, the new Melbourne Institute based its operation around Dixon's ORANI
Computable general equilibrium
Computable general equilibrium models are a class of economic models that use actual economic data to estimate how an economy might react to changes in policy, technology or other external factors...
model of the Australian economy. In the early 1990s Peter Dixon and a number of his senior colleagues left the institute to join Monash University
Monash University
Monash University is a public university based in Melbourne, Victoria. It was founded in 1958 and is the second oldest university in the state. Monash is a member of Australia's Group of Eight and the ASAIHL....
. This necessitated a second period of adjustment and restructuring initiated by Professor Richard Blandy who was Director from 1992 to 1994.
Professor Peter Dawkins, took up his position of Director in January 1996. In that year, the Director and his senior management team, in association with the staff and the advisory board, developed a strategic plan with the unifying theme being the link between economic performance and social outcomes. The first version of this plan was for the period 1996–2000 and it is updated annually. In that year, the name of the institute was changed to Melbourne Institute of Applied Economic and Social Research.
Professor John Freebairn
John Freebairn
John Sydney Freebairn is a former Australian politician. He was the Liberal member for Light in the South Australian House of Assembly from 1962 to 1970. In 1974 he contested the federal seat of Wakefield for Steele Hall's breakaway party the Liberal Movement.-References:...
was appointed Director in 2005 and returned to the Department of Economics in 2007. Stephen Sedgwick, former Board member of the Asian Development Bank
Asian Development Bank
The Asian Development Bank is a regional development bank established on 22 August 1966 to facilitate economic development of countries in Asia...
was Director fron August 2007 until July 2009. In April 2010 Professor Deborah Cobb-Clark was appointed the Director and Ronald Henderson Professor.
Current activities
The Melbourne Institute manages the Household, Income and Labour Dynamics in AustraliaHousehold, Income and Labour Dynamics in Australia Survey
The Household, Income and Labour Dynamics in Australia survey is an Australian household-based panel study which began in 2001. It has been used for examining issues such as the incidence of persistent poverty; assets and income in the transition to retirement; the correlates and impact of...
(HILDA) household panel survey, a national longitudinal study of household economies, labour force participation and family change. It is also undertaking a panel study of General practitioner
General practitioner
A general practitioner is a medical practitioner who treats acute and chronic illnesses and provides preventive care and health education for all ages and both sexes. They have particular skills in treating people with multiple health issues and comorbidities...
s examining the determinants of medical workforce shortages, undertakes detailed labour market
Labour economics
Labor economics seeks to understand the functioning and dynamics of the market for labor. Labor markets function through the interaction of workers and employers...
research, is examining the relationship of poverty
Poverty
Poverty is the lack of a certain amount of material possessions or money. Absolute poverty or destitution is inability to afford basic human needs, which commonly includes clean and fresh water, nutrition, health care, education, clothing and shelter. About 1.7 billion people are estimated to live...
and human capital
Human capital
Human capitalis the stock of competencies, knowledge and personality attributes embodied in the ability to perform labor so as to produce economic value. It is the attributes gained by a worker through education and experience...
and examines the economic impacts of intellectual property
Intellectual property
Intellectual property is a term referring to a number of distinct types of creations of the mind for which a set of exclusive rights are recognized—and the corresponding fields of law...
. The institute produces regular reports which track consumer sentiment and economic activity (both reports get widespread media comment in Australia), and annual rankings of the standing of Australian Universities and of individual disciplines. The institute hosts a biennial conference with a focus on economic performance and social outcomes. The institute has recently hosted a conference on changes needed in the Australian taxation system.