Bachelor of Economics (B3B)

Overview  2023

Entry Requirements

See entry requirements

Duration

Minimum 3 Years, up to a maximum of 7 Years

Duration

Duration refers to the minimum and maximum amounts of time in which this course can be completed. It will be affected by whether you choose to study full or part time, noting that some programs are only available part time.

Location

Hobart
Semester 1, Semester 2
Online
Semester 1, Semester 2

Entry Requirements

See entry requirements

Duration

Minimum 3 Years, up to a maximum of 7 Years

Duration

Duration refers to the minimum and maximum amounts of time in which this course can be completed. It will be affected by whether you choose to study full or part time, noting that some programs are only available part time.

Entry requirements

Location

Hobart
Semester 1, Semester 2
Online
Semester 1, Semester 2

It made “perfect sense”  for Peter to study at the University when he weighed up his options.

“I did not believe that studying at a university outside of Tasmania would make me any better off. I figured that if there were prominent UTAS alumni, such as economist Saul Eslake, who were well regarded then there was probably nothing stopping me from achieving my career aspirations. "

Peter Legg, Economics Graduate
Through economics, you can follow your passion and shape the world.

Our Bachelor of Economics offers a pathway to major in in either Industry, Policy and Business Strategy or Society and Environment. Both teach you how to better understand the world around you.

Graduating, you’ll be able to frame problems through an economics lens, to critically analyse data, and to generate knowledge and innovative recommendations that support policy and practice. You’ll develop these skills though real-world learning experiences like corporate internships, report writing, multidisciplinary teamwork, and industry case studies.

  • Make a difference with your career. Help solve the economic and financial challenges of the future.
  • Learn from leading experts whose links with industry, professional associations, other academics and government ensure that their teaching remains contemporary and relevant.
  • Real-world learning. Enrich your degree through hands-on learning experiences: corporate internships, report writing, multidisciplinary teamwork, and the use of industry case studies in the classroom.
  • Be rewarded in the workplace. Enter the workforce with the analytical and communication skills highly valued by industry and government.

Key contacts

Current student enrolment questions and advice UConnect
Course Coordinator Dr Clinton Levitt
Major Coordinator - Society and Environment Dr Clinton Levitt
Major Coordinator - Industry, Policy and Business Strategy Dr Clinton Levitt

Catalyst Program

Are you a high achiever and want to get the most out of your University experience? The Catalyst Program combines your Bachelor degree with scholarships, extracurricular experiences, special events, and networking opportunities. It was created for outstanding students, just like you. Learn more about the Catalyst Program

Upcoming webinar

If you are considering which course is for you, how to accept your offer and enrol, or which subjects you’ll be studying in your first semester, we’re holding a Know your options- Economics webinar on 6 December, 11:30am.

The Bachelor of Economics at the University of Tasmania builds individual capacity for economic thought, and the ability to apply this mindset to solving problems faced by industry, government and the society at local, national and global levels. Our graduates will have the ability to synthesise information and build empirically-valid models to support economic decision making. They will acquire skills to frame problems through an economics lens, to critically analyse data of relevance, and to generate knowledge and innovative evidence-based recommendations to support policy and practice.

Our curriculum is research-led, with a strong connection to the issues impacting on regional areas such as Tasmania. Throughout the curriculum, we draw heavily on the expertise of our disciplinary scholars to explore areas as diverse as conservation and management of natural resources (such as forests, fisheries and water resources), sustainable energy, social issues (such as housing, health and gambling), economic decisions of individuals and firms and their labour market implications, through to the effects of shocks and contagion on economies. Many of these issues are rooted in human behaviour, and our emerging expertise in behavioural economics allows us to bring psychological insights into understanding such behaviours, equipping our students with fundamental knowledge of the micro foundations underpinning macro phenomena. Our teaching is applied in focus, with a range of authentic learning activities linked to real-world economic situations. We provide a curriculum that nurtures economic ways of thinking and provides a context in which economic ideas are critically examined rather than taken at face value.

The core of the Bachelor of Economics exposes students to foundation principles in economic theory to provide disciplinary depth, while the majors allow students to specialise in the economics of industry and policy or the economics of social and environmental issues. The course also serves as a useful double-degree with many other courses across the University, such as Arts, Science or Law.

  • 1 Collect, analyse and interpret data combined with the application of a broad theoretical and practical knowledge of economics to make evidence-based decisions.
  • 2 Communicate economic reasoning, knowledge, ideas and empirical evidence in ways appropriate to the audience, purpose and context.
  • 3 Critically evaluate economic problems and assess policy issues, using a broad range of economic tools.
  • 4 Collaboratively interact with peers to reflect on ethical issues and the potential differential impacts of economic policies across local, national or international economies.
  • Learn beyond the classroom

    Studying in Tasmania, our whole Island becomes your campus. Speak with your unit coordinator about how you can gain practical experience by volunteering in research initiatives, becoming an ambassador, or taking part in a work experience program.

    Study overseas at one of our partner institutions

    Our international exchange program offers opportunities to study at universities around the world, and it counts towards your degree. Exchange can allow you to have an affordable educational and cultural experience in a foreign country for a semester, or a full year. To facilitate this, we offer a range of scholarships and financial assistance. You may also be eligible for OS-HELP Loans or scholarship funding to assist with their airfares, accommodation and other expenses.

    UPDATE (MARCH) 2021: Please note, due to the ongoing COVID-19 pandemic, Face-to-Face Study Abroad & Exchange programs have been postponed until 2022.

    Alternative Virtual Exchange Opportunities can be found on our Virtual Overseas Experiences tab. For more information please contact Global.Mobility@utas.edu.au

    Find out more about Student Exchange.

    Become a Student Ambassador

    Improve your communication, teamwork and leadership skills, meet new people, inspire and help others, and developing lasting friendships and networks as a student ambassador. Our ambassadors proudly represent the University throughout Tasmania in schools, at University and community events, and support a range of recruitment and engagement activities. Through the Student Ambassador Program you will have many opportunities for training and professional development, experience in real-world community engagement and outreach, networking, and public speaking, plus end up with a key point of distinction on your CV.

    The University of Tasmania is integrated into all areas of industry locally, nationally and internationally be it through research or work placement programs. Talk to your course coordinator about finding an opportunity to take part in a work experience, placement, or extracurricular activities or potentially even a corporate internship during your degree.

    Career outcomes

    A Bachelor of Economics is a degree which will enable you to make a difference with your career and prepare you for the future of work. Economics graduates work in a broad range of occupations and industries, often beyond the discipline of economics itself, and are highly sought after by employers who value their economic literacy and analytical skills.

    Our Bachelor of Economics gives you both job-specific and transferrable skills. You’ll gain job-specific skills in your major area of study, so you’re ready to enter the workforce in a wide variety of careers where you want to make a difference including: International Development, Health, Environment, Business, Banking, Finance, Public Policy, Inter-Governmental Affairs, and Diplomacy.

    Transferrable skills set you up for long-term success. We provide you with a detailed understanding of how decisions are made by individuals, firms, and governments through analysis of a broad range of micro- and macro-economic settings and teach you analytical thinking and evidence-based decision making, so you can adapt as the job market evolves.

    Here are some of the careers projected to grow into 2024:

    • Management and Organisation Analysts: 24.7%
    • Policy and Planning Managers: 10.8%
    • Research and Development Managers: 10%
    • Business Administration Managers: 12.1%

    Source - Department of Employment, Skills, Small and Family Business five Year projections from May 2019 to May 2024.

    Postgraduate study

    If you successfully complete this course, you may be also be eligible to apply for a range of other postgraduate courses including Graduate Certificates and Graduate Diplomas and Masters by coursework and research.

    Course structure

    To graduate from the Bachelor of Economics, you must satisfactorily complete 300 credit points of study comprising:

    • A minimum of 100 credit points of core units from the list in the Schedule;
    • At least one approved 100 credit point major from the list in the Schedule; and
    • An additional 100 credit points of study.

    A major is an area of focus in your degree. During your studies, you’ll choose an area that interests you, and then study a group of units related to that area.

    These units are compulsory for all students in the Bachelor of Economics.We recommend enrolling in the introductory level units as early as possible in your studies so that you have completed these units before attempting intermediate or advanced level units.

    Traditional economics portrays decision making as rational deliberation that computes optimal choices based on well-defined objectives and perfect information. In reality, limited information and cognition as well as certain features of the human psychology often result in decisions that deviate…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 1
    OnlineSemester 1

    Key: On-campus    Off-Campus    International students    Domestic students

    BEA111 introduces the key concepts in economics, both microeconomics and macroeconomics. It demonstrates how these concepts can be used to describe and explain the decisions of businesses and individuals and their reactions to world events, social and economic change and…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 1
    LauncestonAccelerated Study Period 1
    Cradle CoastAccelerated Study Period 1
    OnlineSemester 1
    OnlineAccelerated Study Period 1
    Hong Kong Universal EdSemester 1

    Key: On-campus    Off-Campus    International students    Domestic students

    BEA121 Economic Policy in Action expands upon the key microeconomic and macroeconomic concepts introduced in BEA111 Introduction to Markets and the Economy. The first module of the unit focusses on extending the macroeconomics in BEA111 to consider international trade, exchange…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 2
    OnlineSemester 2

    Key: On-campus    Off-Campus    International students    Domestic students

    BEA140 is a foundation unit in business statistics and the mathematics of finance, and is a core unit in the Bachelor of Economics (BEc) and Bachelor of Business (BBus) degrees. It is also a nominated elective in a wide range…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 2
    LauncestonAccelerated Study Period 2
    Cradle CoastAccelerated Study Period 2
    OnlineSemester 2
    OnlineAccelerated Study Period 2
    Hong Kong Universal EdSemester 2

    Key: On-campus    Off-Campus    International students    Domestic students

    BEA200 has two main purposes. First, it provides the basic foundations of economics and the essential building blocks for higher-level economics units. Starting from fundamental assumptions, this unit develops the neoclassical theory of the optimising behaviour of consumers and firms…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 1
    OnlineSemester 1

    Key: On-campus    Off-Campus    International students    Domestic students

    This unit builds on an understanding of microeconomic concepts in order to provide you with an introduction to several widely-applied economic evaluation and impact-assessment methods. Informing decision-makers about how best to allocate scarce resources is a key role for economists…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 2
    OnlineSemester 2

    Key: On-campus    Off-Campus    International students    Domestic students

    BEA220 is an intermediate level unit in macroeconomic theory and policy. Building upon the macro foundations taught in BEA111 Introduction to Markets and the Economy, this unit provides you with both a solid grounding in macroeconomics and prepares you for…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 2
    OnlineSemester 2

    Key: On-campus    Off-Campus    International students    Domestic students

    The goal of the unit is to develop a thorough understanding of basic econometric methods so that the student can, at the end of this unit:Critically evaluate empirical studies in economics and finance which involve use of simple econometric techniques…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 1
    OnlineSemester 1

    Key: On-campus    Off-Campus    International students    Domestic students

    You may choose from either of the Bachelor of Economics majors listed below.We recommend enrolling in the introductory level units as early as possible in your studies so that you have completed these units before attempting intermediate level units.Similarly, you will usually take the intermediate level units in your major before attempting the advanced level units.

    Understand contemporary economics and develop the analytical and problem-solving skills required to be a successful professional. Students are prepared for success in business and industry including key growth industries in Tasmania and beyond: energy, agriculture, and business strategy. You’ll be equipped with in-demand skills from businesses, Local, State, and Commonwealth government agencies as well as a range of consulting firms and non-government industry organisations.

    In both our personal and work lives we regularly encounter 'games': that is, situations where our actions affect the others we interact with, and vice versa. Game Theory provides a framework to discuss and analyse these types of strategic interactions.…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 2
    OnlineSemester 2

    Key: On-campus    Off-Campus    International students    Domestic students

    The study of international economics provides students with a balance of both micro and macro view of economics in a global perspective. The emphasis on international trade, investment and monetary related issues provide students the required analytical tools to understand…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 1
    OnlineSemester 1

    Key: On-campus    Off-Campus    International students    Domestic students

    Behavioural economics draws on insights and methods from psychology to better understand economic and business decisions. It takes economics beyond the traditional assumption of instrumental rationality, developing theories that more accurately explain and predict economic behaviour. Economic experiments are the…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 2
    OnlineSemester 2

    Key: On-campus    Off-Campus    International students    Domestic students

    The aim of this unit is to introduce students to the economic theory of business strategy and its implications for modern markets. The foundation theories of monopoly and perfect competition are reviewed, and their implications for markets are analysed. A…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 1
    OnlineSemester 1

    Key: On-campus    Off-Campus    International students    Domestic students

    In this unit, students are introduced to applying economic principles to agriculture, agribusiness, and related markets. Students will apply economic principles to study issues in food production and food security. Content will include topics in farm management and organisation, the…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 1
    OnlineSemester 1

    Key: On-campus    Off-Campus    International students    Domestic students

    Energy is a key input for a well-functioning economy and is essential for maintaining our modern way of life. Energy influences many dimensions of our economic and social lives. Ensuring future responsible (sustainable) and equitable access to affordable energy is…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 2
    OnlineSemester 2

    Key: On-campus    Off-Campus    International students    Domestic students

    This unit offers an introduction to modern macroeconomic thought, methods and policy. It emphasises microeconomic foundations to better integrate the study of macroeconomics with microeconomics. In doing so, it follows the approach consistent with current macroeconomic research and will prepare…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 1
    OnlineSemester 1

    Key: On-campus    Off-Campus    International students    Domestic students

    BEA342 provides the techniques required to quantify the magnitude, strength and form of relationships between variables, and the strategies that need to be employed to use these techniques effectively. More specifically, it examines the theory and use of the Classical…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 2
    OnlineSemester 2

    Key: On-campus    Off-Campus    International students    Domestic students

    Are you interested in finding economic solutions to make a positive impact on society and the environment? This major teaches you about contemporary economics with an applied focus on social and public policy. You will learn about issues facing the world today, including environmental management and resource economics, the economics of social issues including crime and education, regional development, and other issues in public policy. Graduates gain a set of skills and experiences valued by businesses, consulting firms, government, and non-government agencies. 

    Economics of Social Issues applies economic principles to study contemporary social issues, including: the distribution of wealth and income, poverty and inequality, gender differences, altruism, crime and corruption, gambling, and housing. These social issues are analysed by looking at the…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 1
    OnlineSemester 1

    Key: On-campus    Off-Campus    International students    Domestic students

    This unit introduces students to the idea of ecosystem services by exploring the benefits that nature provides for people. Whether these benefits are traded in markets or occur in non-market settings, the ecosystem service framework is key to sustainable management…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 2
    OnlineSemester 2

    Key: On-campus    Off-Campus    International students    Domestic students

    Behavioural economics draws on insights and methods from psychology to better understand economic and business decisions. It takes economics beyond the traditional assumption of instrumental rationality, developing theories that more accurately explain and predict economic behaviour. Economic experiments are the…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 2
    OnlineSemester 2

    Key: On-campus    Off-Campus    International students    Domestic students

    Practical, public policy-orientated lectures and tutorials in this unit explore the practical issues of resource management using international, Australian and Tasmanian case studies. There will be specific focus on the sustainable yield of fisheries and the management of forests for…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 1
    OnlineSemester 1

    Key: On-campus    Off-Campus    International students    Domestic students

    Economics of Health and Wellbeing applies economic concepts to the study of healthcare and wellbeing from a variety of different perspectives. Students will apply economic principles to study health issues from the perspective of individuals, businesses, healthcare organisations and the…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 1
    OnlineSemester 1

    Key: On-campus    Off-Campus    International students    Domestic students

    Energy is a key input for a well-functioning economy and is essential for maintaining our modern way of life. Energy influences many dimensions of our economic and social lives. Ensuring future responsible (sustainable) and equitable access to affordable energy is…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 2
    OnlineSemester 2

    Key: On-campus    Off-Campus    International students    Domestic students

    This unit presents the economics of place and the economic value of placemaking. It explores how people choose the places where they want to live; considering whether the choice of where to live comes first and after the search of…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 1
    OnlineSemester 1

    Key: On-campus    Off-Campus    International students    Domestic students

    This unit examines a range of contemporary economic issues shaping the development of regional and rural areas. Students will apply economics principles to study regional growth, urbanisation, international trade, migration and development policy. Students will study the complex tradeoffs between…

    Credit Points: 12.5

    LocationStudy periodAttendance optionsAvailable to
    HobartSemester 2
    OnlineSemester 2

    Key: On-campus    Off-Campus    International students    Domestic students

    These units will broaden your learning experience and complement your major area of study with other discipline-specific studies. You may choose from any units offered by the Tasmanian School of Business and Economics or other areas of the University that are available as electives. You can also use this space in your degree to complete an optional 2nd major.

    We want your study experience with us to be as smooth as possible and we know that choosing from lists and lists of electives can sometimes be overwhelming!

    The guides and links below are presented to help you navigate all of these options and find the electives that are best for you.

    Find the answer to your question - ASK US

    What are electives?

    How do I enrol?

    My enrolment in the Student Portal

    Please don't hesitate to get in touch with our team at UConnect if you need any help.

    Your electives can be used to add breadth to your degree, by exploring a variety of different subject areas from across the University in areas such as Health, Business, Science and the Creative Arts. Alternatively, you can deepen your engagement with specific subject areas, for example, by completing additional units in the same discipline as your major or related fields.You can also use this space to complete an optional 2nd major which may be a 2nd major from your current course or a major from another course*.Please contact U.Connect@utas.edu.au if you need more information or if you want to add a 2nd major to your study plan.*Some exclusions apply. Not all majors can be taken by students in different courses.

    Entry requirements

    Applicants who have recently completed secondary education (in the past two years)

    This course uses ATAR and equivalent ranks as part of the admission process. The lowest ATAR to receive an offer may change from year to year based on the number of applications we receive.

    Applicants who have recently completed senior secondary studies but have not received an ATAR may still be eligible for admission. We will consider your individual subject results on a case-by-case basis when we assess your application.

    Applicants with previous higher education study

    To be eligible for an offer, applicants must have:

    • Completed UTAS University Preparation Program or an equivalent enabling program offered by another Australian University; OR

    • Completed course at Diploma level or above at any Australian higher education provider (or equivalent overseas qualification); OR

    • Partially completed a course at Associate Degree level or higher at any Australian higher education provider (or have partially completed an equivalent overseas qualification). Applicant must have completed the equivalent of at least two units of study (equivalent to 25 UTAS credit points). If an applicant has failed any units, the application may be subject to further review before an offer is made.

    Applicants with previous VET / TAFE study

    To be eligible for an offer, applicants must have:

    • Completed Certificate IV or above. Applications on the basis of work or life experience This course does accept applications based on work or life experience.

    Work and life experience

    Applicants without senior secondary, tertiary or VET / TAFE study can complete a personal competency statement.

    Applicants may be eligible for an offer if they have relevant work and / or life experiences which demonstrate a capacity to succeed in this course.

    All international students will need to meet the minimum English Language Requirements, University General Entry Requirements and any course specific requirements such as pre-requisite subjects, if applicable.

    English Language Requirements
    This degree requires an IELTS (Academic) of 6.0, with no individual band less than 5.5, or a PTE Academic score of 50, with no score lower than 42 or equivalent.


    For students who do not meet the English Language Requirement through citizenship or prior studies in English in an approved country, evidence of an approved English language test completed within the last 2 years must be provided. See the English Language Requirements page for more information.

    General Entry Requirements
    Admission to undergraduate courses at the University of Tasmania requires the completion of qualifications equivalent to a 12th year of education in Australia.

    Please review the equivalent undergraduate entry requirements to see the minimum requirement relevant to your country. The ATAR information for this course is located in the “For Domestic Students” section of the entry requirements on this page.

    You can also meet the General Entry Requirement for this course with the following qualifications or prior studies:

    • Completion of an equivalent AQF Certificate IV or above
    • Complete or incomplete (minimum 25 credit points) of previous tertiary study at Bachelor level or higher

    If you do not meet the minimum requirements, we offer the Foundation Studies Program.

    Course Specific Requirements
    This course does not have any course specific requirements.

    You may be eligible for advanced standing (i.e. credit) in this degree if you:

    • Have completed an award such as a Diploma or Advanced Diploma from the University or another institution;
    • Are currently studying another Bachelor degree at the University or at another institution;
    • Have completed a Bachelor degree at the University or an equivalent award from another institution.

    How to apply for credit

    You can apply for a credit/advanced standing as part of the online application process.

    N/A

    Detailed admissions information and advice for all undergraduate courses, including comprehensive, course-level student profiles, is available from UTAS Admissions.

    Fees & scholarships

    Domestic students

    Options for this course

    Cost shouldn’t get in the way of you studying.

    If you’re a domestic undergraduate student, you may be eligible for a Commonwealth Supported Place in this course. This means your fees will be subsidised by the Australian Government. You’ll only need to pay the student contribution amount for each unit you study within the course.

    You may also be able to defer payment of the student contribution amount by accessing a HECS-HELP loan from the Government. If eligible, you’ll only have to pay your tuition fees once you start earning above a specific amount.

    Further information is available at Scholarships, fees and costs.

    Student contribution

    Student contribution amounts are charged for each unit of study. This means that how much you’ll pay will depend on which units you choose. Find out more about student contribution amounts.

    Further information

    Detailed fee information for domestic students is available at Scholarships, fees and costs, including additional information in relation to the compulsory Student Services and Amenities Fee (SSAF).

    International students

    2023 Total Course Fee (international students): $100,797 AUD*.

    Course cost based on a rate of $32,450 AUD per standard, full-time year of study (100 credit points).

    * Please note that this is an indicative fee only.

    International students

    International students are charged the Student Services and Amenities Fee but this fee is incorporated in the annual rate. International students do not have to make any additional SSAF payments.

    Scholarships

    Relocation Bursary in Economics

    Are you a Tasmanian student commencing full-time study in Hobart in 2021 in the Bachelor of Economics (B3B) degree or a combined degree with Economics? You could be eligible for a relocation bursary, students are required to relocate to study OR have a residential address 50 km or more from the Sandy Bay campus and be travelling to campus for classes. Learn more about the Relocation Bursary.

    For information on general scholarships available at the University of Tasmania, please visit the scholarships website.

    How can we help?

    Do you have any questions about choosing a course or applying? Get in touch.

    Domestic
    1300 363 864
    International
    +61 3 6226 6200
    Email
    Course.Info@utas.edu.au
    Online
    Online enquiries

    Next steps