Bachelor of Business (Economics and Finance) (Applied)
Student type:
Quick facts
-
Duration
Full-time 4 years -
Location
Melbourne City -
Fees
Next Intake
February, July
Entry score
ATAR 80.00
Duration
Full-time 4 years Location
Melbourne City Fees
AU$32,640 (2019 annual)
Next Intake
February, July
Overview
Economics as a discipline is constantly evolving to help us understand how and why we allocated resources. It analyses important issues such as poverty, inflation, unemployment, taxes, pollution, crime, finance, inequality, international competition, consumer behaviour, world trade and economic growth.
This program provides the knowledge and skills required in the management of enterprises in both the public and private sectors. This involves both a broad-based multidisciplinary approach and the opportunity for focused, professional training in areas such as economics and finance.
You will complete core business, economics and finance courses and build on your classroom learning through a compulsory industry placement during the third year. You may also choose to study overseas.
Details
The RMIT Trading Facility simulates trading in money and foreign exchange markets and is the only one of its type in Australia, and one of the world's largest tertiary-based facilities.
You will trade with a live market data feed from Thomson Reuters, and experience first-hand the tools and information professionals in the world's leading banks and investment firms use for data, news analysis and market research.
Most of your classes will be held in RMIT's Swanston Academic Building which features innovative learning spaces interspersed with retail and social spaces resulting in a stimulating environment for students.
RMIT offers a variety of learning and teaching approaches including lectures, seminars, simulations, workshops, presentations, group discussions, project and syndicate work.
Through RMIT University’s online learning portal, myRMIT, you will be able to view online resources and learning activities created by lecturers, access course materials via Blackboard, collaborate with lecturers and fellow students, and access your student email account.
Educational software, the Learning Hub, resources and printers are accessible on campus via the RMIT wireless network using your own laptop, tablet or smart phone or via computer facilities on-campus. You will be able to access the same software from home using myDesktop.
Find out more about student computing at RMIT.
Ongoing assessment throughout the semester includes examinations, essays, reports, presentations, group projects, individual research projects and practical assignments.
In third year you will undertake a compulsory (full-time) industry placement through the Cooperative Education program where you will integrate work experience and networking with your learning activities at RMIT. Your professional work in a business context will be supervised and assessed, and feedback from clients and other members of the industry and community is integral to the experience.
You will also have the opportunity to directly apply your academic skills to a work context in a number of work-integrated learning courses such as Quantitative Analysis and Investment. These courses may involve interaction and feedback from industry, the community, clients and/or practitioners. The Investment course makes use of the RMIT Trading Facility.
Guiding the development of the College of Business, both nationally and internationally, is an Industry Advisory Board of high-profile executives chaired by Gerhard Vorster, Chief Strategy Officer, Deloitte. The Board creates a strategic bridge between the latest in technology and design thinking and business.
Completing a global mobility program can help you to stand out in the job market.
In most cases you can gain credit points towards your studies while experiencing another culture and teaching style overseas.
Global mobility options available for this program include:
- Study tours
- First Year Study Tour
- Student exchange
- RMIT International Industry Experience and Research Program (RIIERP)
- Global Entrepreneurship and Internship Program (GEIP).
Find out more about international opportunities in the College of Business.
The program consists of 28 taught courses including core business, economics and finance courses, work-integrated learning courses, student electives, a-one year compulsory industry placement and a business design project. The business design project in final year consolidates this practical experience, theory and your problem-solving skills.
Flexible courses may be chosen from general student electives.
Year 1
You will study 7 of the compulsory common business core courses plus 1 economics and finance major course.
Year 2
You will study the final compulsory common business core course, and focus on your major by completing 7 economics and finance courses.
Year 3
The third year involves a compulsory industry placement as part of the Cooperative Education program.
Year 4
After completing your industry placement, you will return for your final year of study. You will complete the final 4 courses in your economics and finance major, 2 flexible courses, and the Business Design Project courses - capstone courses that bring together your theoretical learning from the first two years and your supervised industry placement.
In the Business Design Project courses you will need to produce a brief that outlines a current or potential business issue. You must then reflect on theory, test creative solutions, communicate the issue; and demonstrate your ability to analyse and problem-solve in a coherent manner.
Flexible courses can be selected from student electives.
When planning your studies, you are advised to check which elective courses are offered each year.
Choose a program structure
| Title | Location | Duration | Plan code | CRICOS | ||
|---|---|---|---|---|---|---|
| Bachelor of Business (Economics and Finance) (Applied) | City Campus |
4 years full-time or part-time equivalent
|
4 years full-time
|
BP134P9 | 063199C |
Choose a program structure
Program code: BP134
Career
Employment prospects in the financial and insurance services sector is expected to grow by 8.5% in the next five years^. RMIT's economics and finance graduates will be well positioned to launch careers across a range of industries, such as banking, stockbroking, funds management, insurance, superannuation, not-for-profits, and government organisations.
Careers are available to graduates including:
- corporate, business or financial analyst
- corporate accountant
- treasury dealer
- risk management consultant
- economist
- financial investment advisor or manager
- finance manager
- funds manager
- financial broker.
^Department of Employment, Australian Jobs 2016
Membership
Professional bodies may offer students and/or graduates membership, opportunities for entry into professional qualification programs and other career enhancing benefits.
For further information about membership and opportunities for students and graduates, please visit our accreditation and membership page.
Admissions
*ATAR refers to the lowest selection rank to which an offer was made (including consideration of any adjustments) for current and recent year 12 applicants.
RMIT is committed to providing transparency to the admissions process. In line with this commitment, we provide you with information that will help in making informed choices about your undergraduate study options.
RMIT admits students from a range of educational pathways, including Year 12 results, previous higher education or vocational education study, work experience, and for some programs - interviews, auditions or portfolios.
Gain a better understanding of the Admission criteria for this program by viewing RMIT’s Admission information.
The highest level of education you have previously completed will determine which category applies to you.
ATAR and/or complete education history will be considered. All applicants must meet minimum academic entry requirements. Meeting these requirements does not guarantee entry to a course, as there may be more applicants than places available.
Applicants with recent secondary education (current or within the past two years)
Successful completion of an Australian Year 12 senior secondary certificate of education or equivalent in 2016, 2017 or 2018. If applicable, this includes equity access schemes and any other adjustment factors.
School Network Access Program (SNAP)
The SNAP access scheme is designed to increase tertiary access and participation of eligible students from SNAP partner schools.
Applicants with Vocational Education and Training study
Successful completion of any Australian Diploma or Advanced Diploma (or equivalent overseas qualification) with a cumulative GPA of 2.0 out of 4.0 / 60% Weighted Average Mark (WAM).
Applicants with Higher Education study
- Successful completion of an Australian Higher Education Diploma (or equivalent overseas qualification) with a cumulative GPA of 2.0 out of 4.0 / 60% Weighted Average Mark (WAM); or
- Successful completion of an Associate Degree.
- Successful completion of two Open Universities Australia higher education units with a GPA of 2.0. Scored or graded results are required.
3 year RMIT Bachelor of Business degree students (internal applicants only):
- Successful completion of the equivalent of 1 semester of full-time study^ with a cumulative GPA of 2.0 out of 4.0 / 60% Weighted Average Mark (WAM); and no double-fail in any required course of the receiving degree; or
- Successful completion of the equivalent of 4 semesters of full-time study^ with a cumulative GPA of 1.0 out of 4.0 / 50% WAM; and no double-fail in any required course of the receiving degree.
All other 3 year bachelor degree students:
- Successful completion of the equivalent of 1 semester of full-time study^ with a cumulative GPA of 2.0 out of 4.0 / 60% Weighted Average Mark (WAM); and no double-fail in any required course of the receiving degree.
4 year bachelor degree students:
- Successful completion of the equivalent of 1 semester of full-time study^ of any Australian Bachelor Degree and no double-fail in any required course of the receiving degree.
^ One semester of full-time study relates to a block of study: 4 out of 4 or 3 out of 3 courses within a semester.
Applicants with Work and Life Experience
This course uses the entire academic record as part of its selection considerations.
You must sit the Special Tertiary Admissions Test (STAT) Multiple Choice if:
- You have no prior Year 12, VET qualifications, HE results or relevant work experience that meet the minimum entry requirements for the program; and
- You are 19 years of age or over (as of 1 Jan 2019) and have not enrolled in secondary studies for at least two years.
The STAT Multiple Choice will satisfy Year 12 English and Year 11 Mathematics prerequisites. Applicants must meet all other prerequisites or equivalents. Learn more about RMIT STAT results.
The highest level of education you have previously completed will determine which category applies to you.
Entry to this program is competitive. Applicants are ranked and selected in order of merit based on their academic achievement, e.g., ATAR or GPA (including any adjustments).
Applicants with recent secondary education (current or within the past two years)
Successful completion of an Australian Year 12 senior secondary certificate of education or equivalent in 2016, 2017 or 2018. If applicable, this includes equity access schemes and any other adjustment factors.
School Network Access Program (SNAP)
The SNAP access scheme is designed to increase tertiary access and participation of eligible students from SNAP partner schools.
Applicants with Vocational Education and Training study
Successful completion of any Australian Diploma or Advanced Diploma (or equivalent overseas qualification) with a cumulative GPA of 2.0 out of 4.0 / 60% Weighted Average Mark (WAM).
Applicants with Higher Education study
- Successful completion of an Australian Higher Education Diploma (or equivalent overseas qualification) with a cumulative GPA of 2.0 out of 4.0 / 60% Weighted Average Mark (WAM); or
- Successful completion of an Associate Degree.
- Successful completion of two Open Universities Australia higher education units with a GPA of 2.0. Scored or graded results are required.
3 year RMIT Bachelor of Business degree students (internal applicants only):
- Successful completion of the equivalent of 1 semester of full-time study^ with a cumulative GPA of 2.0 out of 4.0 / 60% Weighted Average Mark (WAM); and no double-fail in any required course of the receiving degree; or
- Successful completion of the equivalent of 4 semesters of full-time study^ with a cumulative GPA of 1.0 out of 4.0 / 50% WAM; and no double-fail in any required course of the receiving degree.
All other 3 year bachelor degree students:
- Successful completion of the equivalent of 1 semester of full-time study^ with a cumulative GPA of 2.0 out of 4.0 / 60% Weighted Average Mark (WAM); and no double-fail in any required course of the receiving degree.
4 year bachelor degree students:
- Successful completion of the equivalent of 1 semester of full-time study^ of any Australian Bachelor Degree and no double-fail in any required course of the receiving degree.
^ One semester of full-time study relates to a block of study: 4 out of 4 or 3 out of 3 courses within a semester.
Applicants with Work and Life Experience
This course uses the entire academic record as part of its selection considerations.
You must sit the Special Tertiary Admissions Test (STAT) Multiple Choice if:
- You have no prior Year 12, VET qualifications, HE results or relevant work experience that meet the minimum entry requirements for the program; and
- You are 19 years of age or over (as of 1 Jan 2019) and have not enrolled in secondary studies for at least two years.
The STAT Multiple Choice will satisfy Year 12 English and Year 11 Mathematics prerequisites. Applicants must meet all other prerequisites or equivalents. Learn more about RMIT STAT results.
None
Find out about local student entry requirements for bachelor and associate degrees that are equivalent.
Aboriginal and Torres Strait Islander peoples
The Indigenous Access Program will support your application into RMIT programs through an informal interview process with support from the Ngarara Willim Centre. Your relevant life, work, educational and training experience as preparation for study, in addition to any formal qualifications, are all considered.
Elite Athlete Program
The RMIT Elite Athlete Program (REAP) supports elite athlete and emerging athletes to achieve sporting and academic excellence.
This program targets high performing students and selection is based on high academic merit.
You must have successfully completed an Australian Year 12 or an equivalent senior secondary school qualification with a minimum average of 75% (check calculator below).
Equivalent qualifications may also include completion of the RMIT Foundation Studies program or a recognised post secondary diploma in the relevant discipline with the required grades.
Meeting the minimum academic requirements does not guarantee entry. Your application will still need to be assessed and accepted.
If you don't meet the entry requirements, there may be other RMIT programs you are eligible for that can lead you to your preferred program.
To study this program you will need to complete one of the following English proficiency tests:
- IELTS (Academic): minimum overall band of 6.5 (with no individual band below 6.0)
- TOEFL (Paper Based Test): minimum score of 580 (TWE 4.5)
- TOEFL (Internet Based Test - IBT): minimum overall score of 79 (with minimum of 13 in Reading, 12 in Listening, 18 in Speaking and 21 in Writing)
- Pearson Test of English (Academic) (PTE (A)): minimum score of 58 (with no communication band less than 50)
- Cambridge English: Advanced (CAE): minimum of 176 with no less than 169 in any component.
For detailed information on English language requirements and other proficiency tests recognised by RMIT, visit English language requirements and equivalency information.
Don't meet the English language test scores? Complete an Advanced Plus Certificate at RMIT English Worldwide.
Pathways
When you successfully complete this program you may be eligible for entry into the Bachelor of Business (Honours).
Alternatively, you may be eligible for entry into other RMIT honours or other postgraduate programs.
Fees
In 2019, the annual student contribution amount (tuition fee) you will pay for a standard year of full-time study is between AU$6,566 to AU$10,958*.
* Amounts quoted are indicative fees per annum, and are based on a standard year of full-time study (96 credit points). A proportionate fee applies for more or less than the full-time study load.
Additional expenses
Student services and amenities fee (SSAF): AU$303 maximum fee for 2019.
Other items related to your program, including field trips, textbooks and equipment.
Fees are adjusted on an annual basis and these fees should only be used as a guide.
Learn more about fees for undergraduate study.
Defer your payment
You may be eligible to apply for a HECS-HELP loan, which can be used to defer payment of up to the full amount of your student contribution fees. You may also be eligible to apply to defer payment of your SSAF through the SA-HELP loan scheme.
All undergraduate and honours degrees have Commonwealth supported places (CSP) available. In 2019, the annual student contribution amount (tuition fee) you will pay for a standard year of full-time study is between AU$6,566 to AU$10,958.
In a CSP, your tuition fees are subsidised by the Australian Government. Your share of the fee (student contribution) is set each year by the Australian Government and is determined by the discipline areas (bands) of the courses in which you enrol, not the overall program.
How much can I expect to pay for my Commonwealth supported place?
Courses (subjects) fall into one of three bands. The band determines the student contribution amount for the course.
Amounts listed in the table below are based on a standard, full-time study load (96 credit points per year) with all courses in the same band. A proportionate fee applies for more or less than the full-time study load or for enrolment in courses (subjects) from a combination of bands.
You can learn how to calculate your exact tuition fees for units from different bands at fees for Commonwealth supported students.
Maximum student contribution amount for Commonwealth supported places in 2019
Student contribution band by course (subject) |
Maximum annual student contribution amount in 2019 |
Band 1: humanities, behavioural science, social studies, clinical psychology, foreign languages, visual and performing arts, education, nursing |
$6,566 per standard year |
Band 2: mathematics, statistics, computing, built environment, other health, allied health, science, engineering, surveying, agriculture |
$9,359 per standard year |
|
$10,958 per standard year |
HECS-HELP Loans
The Australian Government provides financial assistance via the HECS-HELP loan scheme, which allows eligible students (such as Australian citizens or holders of an Australian permanent humanitarian visa) to defer payment of up to the full amount of their student contribution.
SA-HELP Loans
You may be eligible to apply to defer payment of the Student services and amenities fee (SSAF) through the SA-HELP loan scheme. If you use SA-HELP, the amount will be added to your accumulated HELP debt.
How does a HELP loan work?
If your HECS-HELP and/or SA-HELP loan application is successful, the Australian Government will pay RMIT, on your behalf, up to the full amount of your fees. This amount will become part of your accumulated HELP debt.
You will only start repaying your accumulated HELP debt to the Australian Government once you earn above the minimum income threshold for repayment, which is set each year by the Australian Government (this also applies if you are still studying).
The Australian Taxation Office (ATO) will calculate your compulsory repayment for the year and include this on your income tax notice.
For more information about loan repayment options see Commonwealth assistance (HELP loans) or Study Assist.
In addition to tuition fees, you will be charged an annual student services and amenities fee (SSAF), which is used to maintain and enhance services and amenities that improve your experience as an RMIT student.
The SSAF is calculated based on your enrolment load and the maximum fee for 2019 is $303.
For more information about calculating your actual SSAF see Paying SSAF.
You may also be required to purchase other items related to your program, including field trips, textbooks and equipment. These additional fees and expenses vary from program to program.
The annual tuition fee for 2019 is AU$32,640.
The total indicative tuition fee for 2019 commencement is AU$114,720.
This program includes a Work-Integrated-Learning (WIL) component. The Cooperative Education Program undertaken in the third year is a one year work placement of at least 34 weeks duration, plus the completion of two courses.
Fees for this year are 25 per cent of the annual tuition fee, and this is reflected in the total indicative fee.
In addition to tuition fees you also need to pay for:
- Student services and amenities fee (SSAF) in each calendar year.
- Overseas Student Health Cover (OSHC) - Student visa holders must have cover for the total duration of their visa.
- Some programs incur additional expenses.
You also need to account for your living expenses. Estimate the cost of living ;in Melbourne.