BEA111 Principles of Economics 1 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 Principles of Economics 1 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 Principles of Economics 2, 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|
|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 Maria Yanotti (Launceston)
Dr Clinton Levitt (Hong Kong, Shanghai)
|Available as student elective?||Yes|
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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.
* 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).
- 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.
You cannot enrol in this unit as well as the following:
BEA110 and JNB223 and XPD102
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.
|Timetable||View the lecture timetable | View the full unit timetable|
Please see the unit outline for details.
The University reserves the right to amend or remove courses and unit availabilities, as appropriate.