Kenneth Clements

Emeritus Professor, BEc MEc Monash, PhD Chic., FASSA

  • The University of Western Australia (M251), 35 Stirling Highway,

    6009 Perth


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Personal profile


I have been at UWA since 1981 as a Professor of Economics (1981-2018), BHP Research Fellow (2008-2017) and Emeritus Professor and Senior Honorary Research Fellow (2019-). I have expertise in international finance, monetary economics and applied microeconomics. My research has been supported by a series of grants from BHP, the ARC and other sources. I have published research in the American Journal of Agricultural Economics, European Economic Review, International Economic Review, Journal of Business, Journal of International Economics, etc. Cambridge University Press has published two of my books, Economics and Marijuana (with X. Zhao, 2009) and Currencies, Commodities and Consumption (2013).

In 2018 I received the Austin Holmes Award Awarded from the WA Branch of the Economic Society of Australia for contributions to the profession. I am a Fellow of the Academy of Social Sciences in Australia (since 1998); received a Citation for Outstanding Contributions to Student Learning from the Australian Learning and Teaching Council in 2009; and served as a Member of the ERA 2015 Economics and Commerce Research Evaluation Committee, Australia Research Council.

I established in 1987 the PhD Conference in Economics and Business. Now a partnership between ANU, Melbourne, Monash, UNSW, UQ and UWA, the conferences are held annually and have attracted about 900 PhD students from a number of universities. These  have helped many students with their research and future careers. 

I have supervised a number of students write honours, masters and PhD theses in international finance, monetary economics, resource economics, exchange-rate economics, consumption economics, etc.

For more details on my activities, go to

PhD (in Economics), The University of Chicago, 1977
Master of Economics, Monash University, 1974
Bachelor of Economics (First Class Honours), Monash University, 1973

Roles and responsibilities

I have taught Monetary Economics, International Finance, Macroeconomics for MBAs, etc.

Convenor, PhD Conference in Economics and Business, The University of Western Australia, 1987, 1988, 1989, 1991, 1993, 1995, 1997, 1999, 2001, 2003, 2009, 2012, 2016 (jointly with H. Y. Izan).

Funding overview

“Analysing Global Consumption Patterns with a Large Number of Goods”, ARC Discovery Project, 2013-15, $263,000.

“Commodity Booms and Busts - Implications for the Australian Economy”, ARC Discovery Project, 2010-12, $270,000 (with R. Tyers).

“Security in Retirement: Forecasting and Managing Macro Investment Risks”, ARC Discovery Project, 2008-10, $328,000 (with G. H. Kingston, H. Batemen, L. A. Fisher and S. Thorp).

“International Comparisons of Consumption, Incomes and Prices”, ARC Discovery Project, 2007-09, $182,000.

“Risk Management for Bonds, Currencies and Commodities”, ARC Discovery Project, 2005-07, $240,000 (with G. H. Kingston, H. Batemen, L. A. Fisher, M. Sherris and S. Thorp).

“Commodity Prices and Exchange Rates”, University of Chicago, 2005, $26,000.

“Exchange Rates and Commodity Prices in a Volatile Business Environment”, ARC Linkage Project; ACIL Tasman, AngloGold Australia and the WA Department of Industry and Resources, the industry partners, 2004-07, $142,000.

“International Comparison of Food Consumption Patterns”, Department of Foreign Affairs and Trade, ACIAR, 2003, $22,000 (with Y. Wu).

“Stochastic Index Numbers and Their Application in Accounting, Economics and Finance”, ARC Discovery Project, 2003-05, $126,000 (with H. Y. Izan and E. A. Selvanathan).

“Economic Aspects of Wool in Western Australia”, ARC Linkage Project, Agriculture Western Australia, the industry partner, 2003-05, $480,000 (with M. J. Tcha).

“The Economics of Value-Adding in WA Agriculture”, Department of Agriculture and Food WA, 2002, $20,000.

“Modelling Illicit Markets: The Case of Marijuana”, ARC Discovery Project, 2001-03, $143,000 (with X. Zhao).

“Curbing Greenhouse Gas Emissions and the WA economy”, ARC Small Grant, 1999, $9,000 (with Q. Ye).

“Living Standards and WA Agriculture”, ARC SPIRT Project; Department of Agriculture and Food WA, industry partner, 1998-2000, $243,000.

“Energy Costs and Mineral Production in Western Australia”, ARC Large Grant Scheme, 1998-2000, $127,000.

“The Economics of Energy Reform in Western Australia”, ARC and BHP Iron Ore, ARC Australian Postgraduate Award (Industry), 1996-98, $90,000.

“Simulation in Demand Analysis”, ARC Large Grant, 1996-97, $77,000.

“The Economics of the East Asian Steel industry”, Pohang Steel Research Institute (POSRI), Korea, 1995-96, $123,000 (with M. J. Tcha and R Greig).

“W.A. Gold Mining Industry Study”, Chamber of Minerals and Energy of WA, 1995, $50,000 (with R. Greig).

“Minerals, East Asia and the WA Economy”, ARC and Chamber of Minerals and Energy of WA, ARC Collaborative Research Grant, 1995-97, $199,000 (with R. Greig).

Previous positions

Head, Economics Program, The University of Western Australia, 2001-06, 2009-13

Director, Economic Research Centre, The University of Western Australia, 1986-2006

Dean, Faculty of Economics and Commerce, The University of Western Australia, 1996-98

Visitor, Faculty of Economics and Commerce, University of Melbourne, 1982

Economist, Reserve Bank of Australia, Sydney, 1974, 1979 -81

Associate Director, Centre for Studies in Money, Banking and Finance and Visiting Fellow, Macquarie University, 1980

Assistant Professor of Economics and International Business, Graduate School of Business, The University of Chicago, 1977-79

Associate Director of the Centre for Mathematical Studies in Business and Economics, Department of Economics and Graduate School of Business, The University of Chicago, Winter 1979

Current projects

Consumption economics (with Yihui Lan, UWA and Haiyan Liu, WA Dept of Transport; George Verikios, Marc Mariano and Berwyn Wong, KPMG Economics, Brisbane; Long Vo, Synergy, Perth; and Antony Selvanathan and Saroja Selvanathan, Griffith University).

The law of one price (with Long Vo, Synergy, Perth).

The measurement of cycles with stochastic index numbers (with Grace Gao, Vic Dept of Education and Yihui Lan, UWA).

Teaching overview

Economic Management and Strategy ECON5503, 2014-2015.

International Finance and Markets ECON4415 and ECON5502, c1990-2018.

Monetary Economics ECON2210, 1985-2013.

Other units including Business Economics, International Trade.


International economics, monetary economics and applied microeconomics

Expertise related to UN Sustainable Development Goals

In 2015, UN member states agreed to 17 global Sustainable Development Goals (SDGs) to end poverty, protect the planet and ensure prosperity for all. This person’s work contributes towards the following SDG(s):

  • SDG 1 - No Poverty
  • SDG 2 - Zero Hunger
  • SDG 3 - Good Health and Well-being
  • SDG 8 - Decent Work and Economic Growth
  • SDG 10 - Reduced Inequalities
  • SDG 12 - Responsible Consumption and Production
  • SDG 13 - Climate Action

Research expertise keywords

  • International Finance
  • Commodity Markets
  • Demand Analysis
  • International economics
  • Monetary economics
  • World economy


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