Courses & Units

Introduction to Markets and the Economy BEA111

Hobart, Launceston, Cradle Coast, Hong Kong Universal Ed


BEA111 Introduction to Markets and the Economy is a compulsory unit in the Bachelor of Economics (BEc) and Bachelor of Business (BBus) degrees. It is also a nominated elective in a wide range of other programs throughout the University of Tasmania and combining this unit with almost any other area of study can add considerable value. By introducing students to a small number of core economic concepts and tools, and by demonstrating their wide ranging application, BEA111 provides students with the opportunity to improve decision making in all domains of their lives and to better understand aspects of the business and policy environments in which they operate, both individually and collectively.

The unit also highlights the use of key economic concepts that can assist people in their role as managers to form successful competitive strategies, and to run more profitable firms. BEA111 Introduction to Markets and the Economy is the first in a sequence of two foundation level economics units offered by the Tasmanian School of Business and Economics. Taken together with BEA121 Economic Policy in Action, BEA111 provides students with a comprehensive introduction to economic theory and policy, and forms a strong foundation for students planning to continue their studies of economics and finance.


Unit name Introduction to Markets and the Economy
Unit code BEA111
Credit points 12.5
Faculty/School College of Business & Economics
Tasmanian School of Business and Economics
Discipline Economics and Finance

Dr Paul Blacklow and Dr Mala Raghaven (Hobart, Cradle Coast and Distance)

Dr Bao Nguyen (Launceston, Hong Kong, Shanghai)

Level Introductory
Available as student elective? Yes
Breadth Unit? No


Location Study period Attendance options Available to
Hobart Semester 1 On-Campus Off-Campus International International International Domestic Domestic Domestic
Launceston Accelerated Study Period 1 On-Campus Off-Campus International International International Domestic Domestic Domestic
Cradle Coast Semester 1 On-Campus International Domestic
Hong Kong Universal Ed Semester 1 On-Campus International


International students
Domestic students

Please check that your computer meets the minimum System Requirements if you are attending via Distance/Off-Campus.

Units are offered in attending mode unless otherwise indicated (that is attendance is required at the campus identified). A unit identified as offered by distance, that is there is no requirement for attendance, is identified with a nominal enrolment campus. A unit offered to both attending students and by distance from the same campus is identified as having both modes of study.

Special approval is required for enrolment into TNE Program units.

TNE Program units special approval requirements.

Key Dates

Study Period Start date Census date WW date End date
Semester 1 22/2/2021 23/3/2021 12/4/2021 30/5/2021
Accelerated Study Period 1 1/2/2021 24/2/2021 18/3/2021 2/5/2021

* The Final WW Date is the final date from which you can withdraw from the unit without academic penalty, however you will still incur a financial liability (see withdrawal dates explained for more information).

About Census Dates

Learning Outcomes

  • LO1: Define, measure and interpret key microeconomic concepts.
  • LO2: Use economic theory and models to describe markets as well as describe when markets fail and outline solutions to market failures.
  • LO3: Use economic theory and models to describe economic decisions made by individuals, businesses and governments as well as identify ethical and welfare implications.


Field of Education Commencing Student Contribution 1 Grandfathered Student Contribution 1 Approved Pathway Course Student Contribution 2 Domestic Full Fee
091901 $1,812.00 $1,419.00 not applicable $2,354.00

1 Please refer here more information on student contribution amounts.
2 Information on eligibility and Approved Pathway courses can be found here
If you have any questions in relation to the fees, please contact UConnect or more information is available on StudyAssist.

Please note: international students should refer to this page to get an indicative course cost.


Mutual Exclusions

You cannot enrol in this unit as well as the following:

BEA110, XPD102, BAA110


Teaching Pattern

1 x 2 hour lecture per week, 1 x 1 hour tutorial per week.


Internal assessment 40%; Final exam 60%. Please see the unit outline for details.

TimetableView the lecture timetable | View the full unit timetable



Please see the unit outline for details.

LinksBooktopia textbook finder

The University reserves the right to amend or remove courses and unit availabilities, as appropriate.