An injury to Shaun Marsh [ Images ] forced selectors to name a 13-strong squad for the Test, which starts next Monday.
Uncapped all rounder Dan Christian was included as back-up for top order batsman Marsh.
Opener Phil Hughes, as expected, lost his place in the team after a miserable series against New Zealand [ Images ] and Usman Khawaja also paid the price for repeated failures with the bat.
All-rounder Shane Watson [ Images ] and pace bowler Ryan Harris were not considered because of injury, while the dependable Ben Hilfenhaus [ Images ] has been recalled to add another option to the bowling attack.
Lefthander Cowan, 29, has been in fine form for Tasmania this season and scored a timely 109 against India in the ongoing three-day tour match in Canberra on Tuesday.
The squad: Michael Clarke [ Images ] (captain), David Warner, Ed Cowan, Shaun Marsh, Ricky Ponting [ Images ], Mike Hussey [ Images ], Brad Haddin [ Images ], Dan Christian, Peter Siddle [ Images ], Ben Hilfenhaus, Mitchell Starc, James Pattinson, Nathan Lyon.