The objective of this paper is to identify the impact of current national policies and emerging curricular practices on master's by coursework students in Australia. It is argued that the rate of top-down policy change, together with bottom-up innovation, is resulting in a high level of complexity that is challenging providers, staff and student alike. Findings from a national study that elicited the views of key stakeholders on aspects of the master's by coursework degree including its adequacy as a preparation for doctoral study are discussed.