Centre for Market Design
We produce innovative microeconomic research and form partnerships with industry and governments to deliver value to society.
The Centre for Market Design invites you to The Future of Work (from Home) Workshop.
Latest news and research
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Listen to David Byrne on various media about petrol prices, fuel excise and stockpile
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APIOC 2021 - 13 & 14 December 2021
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Professor Steven Williams appointed Fellow of Econometric Society
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CMD congratulates Victoria Baranov, 2020 AHES Rising Star
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Researcher in focus
Meet Dr Ingrid Burfurd, a Centre for Market Design Research Fellow.
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The economics of COVID-19
Policymakers need a new roadmap for navigating the balance between managing a pandemic and supporting the economy, and setting criteria and targets for action can help
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The economics of COVID-19
Policymakers need a new roadmap for navigating the balance between managing a pandemic and supporting the economy, and setting criteria and targets for action can help.
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CMD Research Student Wins 2019 Professor Wilson Prize
Congratulations to Bing Liu for winning the 2019 Professor Wilson Prize.
Upcoming Events
The Centre for Market Design's research is published in top-ranking generalist and leading field journals.
Our team includes outstanding young economists specialising in research in economic theory, structural econometrics and experimental economics, who partner with peers in Australia and worldwide to drive innovation in the field of market design.
We also support workshops, mini-schools, conferences and academic visitors.
The Centre for Market Design applies game theory, information economics and incentive design to policy and industry problems.
We connect leading academics with real-world policy problems to design, test and implement tailor-made solutions. We develop mechanisms that help government and industry make positive changes using robust economic design tools.
See a full list of our partnerships with government, industry and universities.
Latest projects
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Border Biosecurity
The CMD is focusing on incentives to improve Australia’s biosecurity system.
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Waste Sector Reform
Economic design methodology will assist Infrastructure Victoria to identify options to manage waste and recycling policy.
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Biodiversity Offsets Scheme
A smart market is being designed for the New South Wales Government’s Biodiversity Offset Scheme.
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Youth Justice
A joint field experiment is underway to evaluate the effectiveness of non-custodial interventions for young offenders.
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Improving Transport for Students with Disability
Travel times by students with autism at a northern Melbourne school have been cut by half as a result of a CMD pilot project.
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Power Changers
Associate Professor David Byrne has been instrumental in designing and evaluating a trial to help households reduce power use.
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Analysing third-party comparison websites
The Centre for Market Design is undertaking an investigation into the role, effectiveness and value of third-party price comparison websites in the Australian electricity market.
Our programs use specialised tailored pathways to offer opportunities for government and industry professionals to extend their understanding of how economic design principles and mechanisms can improve a range of procurement and other resource allocation decisions.
Current programs
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Government
The Specialist Certificate in Economic Design is taught by microeconomic scholars and provides relevant economic knowledge and frameworks to apply to market design challenges you face in your role.
The course explores economic design principles and mechanisms, current microeconomic developments and methods for more efficient diagnosis and resolution of policy, procurement and resource allocation problems.
Accredited by The University of Melbourne, the 25 credit points earned from the Specialist Certificate can be used as a pathway into postgraduate programs offered by the Faculty of Business and Economics, including Master of Economics.
The course will consist of eight topics each containing a participatory, experimental and written assessment component.
For application information:
The Centre for Market DesignT: +61 3 8344 8805
E: cmd-courses@unimelb.edu.au -
Fellowship
The Centre for Market Design (CMD) conducts research in market design and associated academic disciplines and applies modern microeconomic theory to public policy problems.
The Fellowship Program is designed to increase awareness and improve capabilities in market design in the public service. Selection of the Fellow is based on policy project proposals employing a market design approach, submitted by candidates and chosen by the CMD Directors.
The benefits of the proposed Fellowship Program include capability building in research; training in the application of market design to policy problems; improved links between public servants and the CMD; and the creation of new solutions to specific public policy problems.
During the term of the program, the selected candidate will be appointed Fellow of the University of Melbourne.
Location
The public service candidate will spend as much time as possible at the CMD, University of Melbourne. A Victorian candidate will be based full time at the CMD, University of Melbourne.
Duration
Up to six months.
Selection
Candidates are to submit: 1) a one-page project proposal to apply a market design approach to a specific policy problem developed by the candidate 2) a CV 3) two letters of recommendation.
Activities/outputs
Fellowship candidates will:
- Frame the proposed policy project as a market design problem
- Present seminars on the project at the University, Commonwealth and/or Victoria
- Contribute to one ongoing CMD project
- Complete a skill development program in market design.
Applications
Apply now by emailing cmd-enquiries@unimelb.edu.au.
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Residency Program
Researchers at the Centre for Market Design will participate in the CMD's inaugural Economic Residency Program, designed to partner with governments to find solutions to public policy problems around Australia.
CMD researchers are specialists in microeconomics and market design and will partner with Commonwealth and State government departments to help problem solve.
The Centre's researchers publish in top tier global journals and partner with industry and government to apply the latest microeconomic research to pressing policy issues.
Interested public policy professionals are invited to contact the CMD to discuss residency opportunities via email cmd-enquiries@unimelb.edu.au.
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Enterprise
We work with industry and governments to use economic knowledge and frameworks to apply to market design challenges.
Our tailored executive education programs are in development.
Please contact us via email cmd-enquiries@unimelb.edu.au to enquire about our programs.
We work closely with state and commonwealth government agencies, researchers from local and international universities, and organisations with an interest in market design research and applications.
We share knowledge and promote market design solutions for procurement, also partnering with industry and the community to problem solve.
Our team continues to provide fiscal, efficient and engagement outcomes for its stakeholders and plans to increase contractual work by developing new strategic partnerships.
Please contact the CMD office to discuss potential partnerships.
The Centre for Market Design (CMD) was established in 2012 as a consortium of Federal and Victorian Treasury departments and the University of Melbourne, to partner with industry, government and university peers to produce innovative economic research.
It became a University research centre in 2018.
We use mechanism design, auction theory, matching markets, experimental economics, and structural econometrics to find solutions to public policy, procurement and resource allocation problems.
We work closely with state and commonwealth government agencies, researchers from local and international universities, and organisations with an interest in market design research and applications, to share knowledge and find solutions.