The PhD is a doctoral degree, specifically called a "doctor of philosophy" degree. This is misleading because PhD holders are not necessarily philosophers (unless they earned their degree in philosophy!). That said, PhD recipients are able to engage in thought experiments, reason about problems, and solve problems in sophisticated ways.
People who earn a PhD in business, economics and administration typically go on to teach in universities or perform statistical research for large organizations. Moreover, anyone with a PhD degree has the right to be addressed as "Dr."
Australia has a subsidized higher education for students pursuing the undergraduate degrees. They also give loan and grants for the post graduate students. Higher learning starts at undergraduate degree level to a doctoral degree offered in any field of study.
Victoria has eight universities and various government-run institutions that facilitate technical and further education. In addition, there is a state Library which is good for researchers undertaking higher education in the area.
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