Australians are attending university at one of the highest rates in the OECD but the country has one of the lowest rates of graduates in science fields, which have some of the highest levels of employment.

Australia also relies far more on private funding sources, including households, for educational institutions at all levels than other similar countries, according to a new report comparing education outcomes across the Organisation for Economic Cooperation and Development.

Nearly 50 per cent of Australians aged between 25 and 34 have studied at the tertiary level, compared to an OECD average of 43 per cent, found the report which was released globally on Tuesday.

Australian university students are studying business, administration and law courses at far higher rates than other OECD countries, with these fields producing 34 per cent of graduates compared to an OECD average of 24 per cent, according to 2016 figures.