Courses & Units

Introduction to Markets and the Economy BEA111


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 government policy. The unit explains why and when markets work and fail. Many of the problems that nations face such as pollution, unemployment, climate change, deflation, inflation, poverty, education and health are market failures. The unit devotes considerable time towards explaining how to develop basic microeconomic and macroeconomic policies for market failures and how to evaluate their welfare consequences for different members of society.


Unit name Introduction to Markets and the Economy
Unit code BEA111
Credit points 12.5
College/School College of Business & Economics
Tasmanian School of Business and Economics
Discipline Economics
Coordinator Doctor Bao Nguyen|Doctor Paul Blacklow
Teaching staff Doctor Moses Kangogo
Available as an elective? Yes
Delivered By University of Tasmania and Third Party ()
Level Introductory


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

Key Dates

Study Period Start date Census date WW date End date
Semester 1 21/2/2022 22/3/2022 11/4/2022 29/5/2022
Shanghai Semester 2 21/2/2022 22/3/2022 1/1/1970 27/5/2022
Accelerated Study Period 1 31/1/2022 23/2/2022 17/3/2022 1/5/2022

* 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 (refer to How do I withdraw from a unit? for more information).

Unit census dates currently displaying for 2022 are indicative and subject to change. Finalised census dates for 2022 will be available from the 1st October 2021. Note census date cutoff is 11.59pm AEST (AEDT during October to March).

About Census Dates

Learning Outcomes

  • Define and interpret key microeconomic and macroeconomic concepts.
  • Apply basic microeconomic and macroeconomic concepts to describe the impact of global events, social change, government policy on markets and the macroeconomy.
  • Describe how and why markets work and how and why they fail. Develop and critically evaluate basic microeconomic and macroeconomic policy solutions to market failures and identify their welfare implications
Field of Education Commencing Student Contribution 1 Grandfathered Student Contribution 1 Approved Pathway Course Student Contribution 2 Domestic Full Fee
091901 $1,828.00 $1,432.00 not applicable $2,354.00

1 Please refer to more information on student contribution amounts.
2 Please refer to more information on eligibility and Approved Pathway courses.
3 Please refer to more information on eligibility for HECS-HELP.
4 Please refer to more information on eligibility for FEE-HELP.

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 What is an indicative Fee? to get an indicative course cost.


Mutual Exclusions

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

BEA110, XPD102, BAA110


AssessmentQuiz (10%)|Final Exam (50%)|Assignment 2 - Macro topics (20%)|Assignment 1 - Micro topics (20%)
TimetableView the lecture timetable | View the full unit timetable



Frank, R.H., Jennings, S.M. and Bernanke, B.S. (2012), Principles of Microeconomics, (3rd edn), McGraw Hill, North Ryde, NSW.

You will need a hard copy of e-text of the following text book:

Hubbard, R. Glen., Anne Garnett, Phil Lewis, Anthony O'Brien (2018), Essentials of Economics, (4th edn), Pearson. ISBN 9781488616983, NSW


Hard copies of the book are available for purchase from the Co-op Bookshop in person, or on line at

Hard copies and e-text versions of the book are available from the publisher Pearson at

You may also wish to purchase MyLab for Hubbard et. al from Pearson that provides additional resources and opportunities to learn.    

LinksBooktopia textbook finder

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