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.
Melbourne city has provided Australia with top quality universities and college. The university of Melbourne that was ranked fourth worldwide in 2008 is located in this city. It is also home to Monash University, La Trobe University and many others.
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