University of Tasmania 
School Of Economics
Bachelor of Economics Course Guide

The Faculty of Commerce and Law

The Faculty of Commerce and Law comprises the cross-campus Schools of Economics, Accounting and Finance, Management and Law. The Faculty offers a full range of undergraduate and postgraduate courses in Economics, Accounting, Finance, Marketing and Management and Law.

One of the degrees offered by the Faculty is the Bachelor of Economics. It is a degree which is reviewed regularly to ensure that it continues to meet standards of national and international best practice.

The Bachelor of Economics

The general aims and objectives of the Bachelor of Economics are to produce well educated and adaptable graduates with appropriate knowledge and professional skills.

Specific aims of the Economics degree include:

• to introduce students to the principles of economics and to inculcate the economics way of thinking as it applies to business issues and more broadly to the social sciences;
• to develop a detailed understanding of the issues and factors, both national and international, that determine how economic systems are organised and how decisions are made by individuals, business firms and governments;
• to provide students with the quantitative skills needed to understand economic reports and analyses, to be able to investigate economic issues in a scientific way and to communicate information in an effective manner.

Degree Structure

The following is intended as a 'user friendly' guide to the Bachelor of Economics degree only. Specific requirements for the degree, together with unit descriptions, can be obtained from the University of Tasmania Handbook.

The Bachelor of Economics degree may be completed in three years of full-time study or the part-time equivalent on the Hobart campus only.

Economics for Business, Foundations of Economic Policy and Quantitative Methods 1 are compulsory units in first year. Intermediate Macroeconomics, Intermediate Microeconomics, and either Introduction to Econometrics or Research Methods for Business and Financial Economics are compulsory units in year 2.

Within the Bachelor of Economics, there is a wide choice of subjects offered in all three years, allowing students to specialise in a range of areas both within and outside the Faculty. Students can choose to take up to half their units in each year from courses offered by other Schools throughout the University.

It is possible to undertake a general Bachelor of Economics degree (BEc-General) which provides the greatest degree of flexibility in choice of subjects. Alternatively, it is possible to complete the Bachelor of Economics with one of the following majors:

• The Analytical Economics major is designed for students interested in a detailed understanding of economic theories,principles and institutions.
• The Australian Economy and the Asia-Pacific major emphasises Australia's international economic relations with the Asian tigers and the Asian trading giants: Japan, China and India.
• The Economics, Organisation and Industrial Relations major is designed for students interested in the management of human and physical resources in an economic context.
• The Financial Markets and Institutions major is designed for students who are interested in the financial sector.
• The Business Economics and Market Strategies major is designed for students with an interest in analysing markets and business organisations in an economics context.

The BEc-general is designed to give students the widest possible choice by allowing combinations of economics with practically any subject area of interest offered by other Faculties and Schools in the University. Within the Faculty it is possible to take the set of subjects for a major in Accounting, Finance, Management or Marketing. Majors from other Faculties can also be included within the Economics degree. Some recent examples include majors in Computer Science, Political Studies, Modern Languages and Psychology.

The Analytical Economics major is designed for students with sound quantitative skills while the majors in Economics, Organisation and Industrial Relations, Australian Economy and the Asia-Pacific, and Business Economics and Market Strategies are strucured in the Liberal Arts tradition requiring much less emphasis on quantitative analysis. Financial Markets and Institutions involves a mixture of quantitative and literary skills.

Click here to see a table containing the units required for each major.

Combined Degrees

Students enrolled for the BEc may, starting in Year 2, combine studies with the Bachelor of Laws (LLB) degree, in a course taking five years full-time. Quotas apply. The BEc,LLB provides a strong basis for a subsequent career in business or public administration, where there is a need for an understanding of the relationships between economic decisions and legal constraints and requirements. The subject Introduction to Law is compulsory in first year for those intending to transfer to the combined degree.

Students may, starting in Year 2, combine their study of Economics with the Bachelor of Computing degree, (BComp) in the combined degree, (BEc/BComp), in a course taking five years full-time. The combined degree provides a good opportunity to combine two specialised and marketable fields into one course of study.

Students may combine their BEc with the Bachelor of Arts (BA) degree in a course taking five years full-time. There is considerable affinity between economics and various social sciences such as environmental studies, political science, administration and sociology. The combined degree allows the student to complement their studies in economics with a deep background in the humanities and social sciences.

Admission Requirements

The University requires applicants for admission to the degree of Bachelor to have a minimum of four pretertiary year 12 subjects at a level equivalent to the Tasmanian Certificate of Education. Interstate applicants may also satisfy entrance requirements on the basis of comparable Year 12 qualifications completed in other states of Australia. In addition to satisfying the minimum entrance requirements for the University outlined above, applicants must have passed a mathematics subject acceptable to the Faculty, equivalent to the TCE11/12MT703C Mathematics Applied, or 12MT841C Mathematics Stage 2, or 12MT843C Mathematics Stage 3. Candidates should note, however, that admission to the Faculty is subject to quota selection.

The University of Tasmania welcomes international students. Click here for admission requirements and other relevant information for international students.

TAFE Articulation

Faculty has been an active participant in the AVCC Pilot Credit Transfer Scheme since 1993 whereby students who have completed the Associate Diploma of Business - and have been admitted to the course - may receive credit for up to eight units(the equivalent to one-third of the course requirements).

Professional Recognition

Provided certain units are taken, the Institute of Chartered Accountants in Australia and the Australian Society of CPAs will accredit the Bachelor of Economics for entry into the Professional Year Program and Associate Status respectively.

Career Opportunities

The economist has come to play a vital role in modern society. Most problems that require decisions about how best to use limited resources are better appreciated with an understanding of economic analysis. Economics graduates have career opportunities in many fields, their areas of specialisation include:

• policy development and analysis with state and Commonwealth governments;
• business analysis and forecasting with commercial companies and financial institutions;
• market research for private and government institutions;
• decision-making and economic analysis in finance and banking, including the Reserve Bank of Australia;
• economic analysis and decision-making in the fields of transport, regional development, agriculture, tourism and international trade;
• analysis and policy advice for specialist organisations such as environment interest groups, aid organisations, trade unions and industry groups;
• economic development in developing countries;
• economic analysis within international organisations such as the International Monetary Fund and the World Bank;
• theoretical and applied economic research for specialist research institutes;
• teaching at High School and University.

Combined degrees are offered in Economics/Law, Economics/Arts and Economics/Computing. Therefore, Bachelor of Economics graduates are well placed for a wide range of interesting careers in businesses, government departments and other institutions which require economists with additional skills such as legal knowledge, fluency in Asian Languages or advanced computer literacy.

Further Study in Economics

The honours degree requires one year of full-time study in addition to the requirements for the BEc pass degree. Economics honours graduates are keenly sought after by Commonwealth government departments and major business. In recent years all honours graduates have found immediate employment in specialist economics positions.

The School of Economics also offers Masters and PhD degrees and has a very strong research and publications record. In addition, senior academic staff have strong ties with local industries and government authorities and are involved in a range of activities from consultancies to providing expert knowledge to government inquiries. Some also appear regularly on television news and current affairs programs and write for local and national newspapers.

Australian residents requiring more information may contact:

The Course Information Officer
University of Tasmania
GPO Box 252C
Hobart 7001
Tasmania Australia

Telephone: (03) 6226 2543
Facsimile: (03) 6226 7469

International Students may obtain more information from the The Office of International Development.

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This page is maintained by Tracy Kostiuk
Last Modified: 31July 2001
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