Bachelor of Business (Economics and Finance) (Applied)
Student type:
Quick facts
-
Entry score
-
Duration
Full-time 4 years -
Location
Melbourne City -
Fees
Next Intake
February, JulyEntry score
ATAR 80.05
Duration
Full-time 4 yearsLocation
Melbourne City
Overview
Explore Economics and Finance
Are you interested in a career in economics?
Find out why economics and finance are more relevant and necessary than ever before, what you'll learn in the RMIT Bachelor of Business (Economics and Finance) degrees, and where your studies can take you.
Economics as a discipline is constantly evolving to help us understand how and why we allocate 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 degree 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 subjects 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 subjects such as Quantitative Analysis and Investment. These subjects may involve interaction and feedback from industry, the community, clients and/or practitioners. The Investment subject 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 degree 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.
This degree consists of 28 taught subjects including core business, economics and finance subjects, work-integrated learning subjects, 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 subjects may be chosen from general student electives.
Year 1
You will study 7 of the compulsory common business core subjects plus 1 economics and finance major subject.
Year 2
You will study the final compulsory common business core subject, and focus on your major by completing 7 economics and finance subjects.
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 subjects in your economics and finance major, 2 flexible subjects, and the Business Design Project subjects - capstone subjects that bring together your theoretical learning from the first two years and your supervised industry placement.
In the Business Design Project subjects 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 subjects can be selected from student electives.
When planning your studies, you are advised to check which elective subjects 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
VTAC Code
If you are eligible to apply via VTAC, copy and paste the below code into VTAC search.
- Plan BP134P9 - 3200317531
Please ensure that you have checked the admissions requirements and apply page before applying.
VTAC Code
If you are eligible to apply via VTAC, copy and paste the below code into VTAC search.
- Plan BP134P9 - 3200317533
Please ensure that you have checked the admissions requirements and apply page before applying.
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
Course accreditation or membership offered by professional bodies signals to employers the quality and relevance of RMIT's courses and opens up career pathways and networks.
Professional bodies accredit or recognise courses as meeting professional and academic standards deemed to be essential for a new graduate entering into that profession. An accredited course will either enable the graduate to enter directly into a professional qualifications program or provide the graduate with exemptions or credit towards a post university professional qualification.
Statutory accreditation
This type of accreditation is where a statutory body must approve a course of study in order for a graduate to practise in that profession.
Membership
Professional bodies or associations are representative organisations of professions that provide membership and other career development support to its members. Many professional bodies offer membership opportunities for students and new graduates with benefits such as career advice, networking within the profession and access to resources not available through the university. The aim of these benefits is to assist with your transition from university into the profession.
Bachelor of Business (Economics and Finance) (Applied)
Current course accreditations and information about membership and development opportunities for students and graduates.
Financial Services Institute of Australia (FINSIA)
Membership and opportunities
- Students eligible for membership category: Student
- Graduates eligible for membership category: Affiliate
- Graduates eligible for membership category: Associate (require 3+ years experience)
Visit the Financial Services Institute of Australia website
CPA Australia
Membership and opportunities
- Students eligible to join the CPA Australia Network
- Graduates who have completed specific courses in the degree may have them counted towards partially fulfilling the academic requirements for Associate Membership
Visit the CPA Australia website
Finance and Treasury Association (FTA)
Membership and opportunities
- Graduates under 30 years of age eligible for membership category: Pathways
- Graduates 30 years of age or older eligible for membership category: Member
Visit the Finance and Treasury Association website
Admissions
You must have successfully completed an Australian Year 12 (or equivalent qualification).
Prerequisites
Units 3 and 4: a study score of at least 30 in English (EAL) or at least 25 in English other than EAL.
Rankings and adjustment factors
Entry to this program is competitive. Eligible applicants are ranked and selected in order of merit based on their academic achievement plus any adjustment factors.
Adjustment factors include equity access schemes and/or subject adjustments.
We will consider your entire academic record to determine your eligibility for entry. The highest level of education you have previously completed will usually determine how you are ranked.
Selection criteria by applicant type
Please select the highest level of education you have or will be completing in order to find out the selection criteria that applies to you, in addition to meeting the above entry requirements.
Adjustment factors available only to applicants currently studying Year 12
School Network Access Program (SNAP)
- The SNAP access scheme is designed to increase tertiary participation by giving priority access to RMIT diploma and degree programs to eligible applicants currently studying Year 12 at a SNAP partner school.
Adjustment factors available only to applicants currently studying Year 12 or whose highest qualification is a completed Year 12.
Subject adjustments
- A study score of 25 in Accounting, Business Management, Economics, Geography, any Information Technology, Legal Studies, any Mathematics, Industry and Enterprise or Psychology equals 1 aggregate point per study.
- A study score of 35 in any English equals 2 aggregate points per study.
- Overall maximum of 5 points.
Regional adjustments
- RMIT automatically allocates adjustment factors to applicants from a low socio-economic status area for all programs that select primarily on ATAR. Low socio-economic status areas are determined by applying the Australian Bureau of Statistics (ABS) Socio-Economic Index for Areas (SEIFA) Index of Education and Occupation.
Equity access schemes
- Equity access schemes take into account personal information and location, difficult circumstances, disadvantaged financial background and disability or medical condition that may have impacted on an applicant’s most recent academic performance.
- This program has been recognised as being under-represented by female applicants. Additional adjustment factors may apply to those applying to category 1 of the Special Entry Access Scheme or RMIT access application.
- Find out more about the eligibility requirements for each Special Entry Access Scheme and RMIT access categories.
- If you are applying through VTAC you should apply for the Special Entry Access Scheme.
- If you are applying directly to RMIT you should apply for RMIT Access. The system will prompt you to do this during your application.
Elite Athlete Program
- The RMIT Elite Athlete Program supports eligible elite and emerging athletes to achieve sporting and academic excellence, allowing students to balance the demands of both their studies and their athletic responsibilities.
Aboriginal and Torres Strait Islander peoples
- The Indigenous Access Program supports your application to RMIT through an informal interview process where you will receive help from the Ngarara Willim Centre. Additional consideration will be given if you have relevant life, work, education or training experience.
We will consider your entire academic record to determine your eligibility for entry. The highest level of education you have previously completed will usually determine how you are ranked.
Successful completion of any Australian Diploma or Advanced Diploma (or equivalent) will meet the minimum entry requirements for this course.
Special Tertiary Admissions Test (STAT)
You may satisfy the academic requirements by completing the STAT multiple choice.
If you are applying to RMIT as an applicant with vocational education training, you may sit the STAT multiple choice if you:
are 19 years of age or over as of 1 January in the year in which you will start your studies and
have not been enrolled in secondary studies for at least two years and
have no prior secondary school (Year 12), VET studies, HE studies or relevant work experience that can be considered for entry, or these do not meet the minimum academic requirements for the program
STAT results are valid for two years prior to the commencement of study and can be used to meet Year 12 English prerequisites. You are still required to meet all other program prerequisites or equivalents.
Learn more about RMIT STAT results including minimum STAT scores required to meet prerequisites.
You may be eligible for the following adjustment factors:
Elite Athlete Program
- The RMIT Elite Athlete Program supports eligible elite and emerging athletes to achieve sporting and academic excellence, allowing students to balance the demands of both their studies and their athletic responsibilities.
Aboriginal and Torres Strait Islander peoples
- The Indigenous Access Program supports your application to RMIT through an informal interview process where you will receive help from the Ngarara Willim Centre. Additional consideration will be given if you have relevant life, work, education or training experience.
Entry to this program is competitive. Applicants are ranked and selected in order of merit based on their academic achievement, e.g., GPA (including any adjustment factors).
We will consider your entire academic record to determine your eligibility for entry. Previous fail grades in similar courses may affect your eligibility.
- successful completion of an Australian higher education diploma (or equivalent overseas qualification); or
- successful completion of at least four courses (subjects) at an Australian associate degree (or equivalent) and no double-fail in any required course of the receiving degree; or
- successful completion of at least two courses (subjects) at an Australian undergraduate level (or equivalent) and no double-fail in any required course of the receiving degree; or
- successful completion of two Open Universities Australia higher education units. Scored or graded results are required.
Special Tertiary Admissions Test (STAT)
You may satisfy the academic requirements by completing the STAT multiple choice. If you are applying to RMIT as an applicant with higher education study, you may sit the STAT multiple choice if you:
are 19 years of age or over as of 1 January in the year in which you will start your studies and
have not been enrolled in secondary studies for at least two years and
have no prior secondary school (Year 12), VET studies, HE studies or relevant work experience that can be considered for entry, or these do not meet the minimum academic requirements for the program
STAT results are valid for two years prior to the commencement of study and can be used to meet Year 12 English prerequisites. You are still required to meet all other program prerequisites or equivalents.
Learn more about RMIT STAT results including minimum STAT scores required to meet prerequisites.
You may be eligible for the following adjustment factors:
Equity access schemes
- Equity access schemes take into account personal information and location, difficult circumstances, disadvantaged financial background and disability or medical condition that may have impacted on an applicant’s most recent academic performance.
- This program has been recognised as being under-represented by female applicants. Additional adjustment factors may apply to those applying to category 1 of the Special Entry Access Scheme or RMIT access application.
- Find out more about the eligibility requirements for each Special Entry Access Scheme and RMIT access categories.
- If you are applying through VTAC you should apply for the Special Entry Access Scheme.
- If you are applying directly to RMIT you should apply for RMIT Access. The system will prompt you to do this during your application.
Elite Athlete Program
- The RMIT Elite Athlete Program supports eligible elite and emerging athletes to achieve sporting and academic excellence, allowing students to balance the demands of both their studies and their athletic responsibilities.
Aboriginal and Torres Strait Islander peoples
- The Indigenous Access Program supports your application to RMIT through an informal interview process where you will receive help from the Ngarara Willim Centre. Additional consideration will be given if you have relevant life, work, education or training experience.
Entry to this program is competitive. Applicants are ranked and selected in order of merit based on their academic achievement, e.g., Special Tertiary Admission Test (STAT) score (including any adjustment factors).
You must have successfully completed an Australian Year 12 (or equivalent qualification) and meet the stated prerequisites. Work and life experience does not provide any additional consideration for entry to this program. You may satisfy the academic requirements by completing the STAT multiple choice.
Special Tertiary Admissions Test (STAT)
You may satisfy the academic requirements by completing the STAT multiple choice. If you are applying to RMIT as an applicant with work or life experience, you may sit the STAT multiple choice if you:
are 19 years of age or over as of 1 January in the year in which you will start your studies and
have not been enrolled in secondary studies for at least two years and
have no prior secondary school (Year 12), VET studies, HE studies or relevant work experience that can be considered for entry, or these do not meet the minimum academic requirements for the program
STAT results are valid for two years prior to the commencement of study and can be used to meet Year 12 English prerequisites. You are still required to meet all other program prerequisites or equivalents.
Learn more about RMIT STAT results including minimum STAT scores required to meet prerequisites.
You may be eligible for the following adjustment factors:
Equity access schemes
- Equity access schemes take into account personal information and location, difficult circumstances, disadvantaged financial background and disability or medical condition that may have impacted on an applicant’s most recent academic performance.
- This program has been recognised as being under-represented by female applicants. Additional adjustment factors may apply to those applying to category 1 of the Special Entry Access Scheme or RMIT access application.
- Find out more about the eligibility requirements for each Special Entry Access Scheme and RMIT access categories.
- If you are applying through VTAC you should apply for the Special Entry Access Scheme.
- If you are applying directly to RMIT you should apply for RMIT Access. The system will prompt you to do this during your application.
Elite Athlete Program
- The RMIT Elite Athlete Program supports eligible elite and emerging athletes to achieve sporting and academic excellence, allowing students to balance the demands of both their studies and their athletic responsibilities.
Aboriginal and Torres Strait Islander peoples
- The Indigenous Access Program supports your application to RMIT through an informal interview process where you will receive help from the Ngarara Willim Centre. Additional consideration will be given if you have relevant life, work, education or training experience.
Additional information
*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. Find out more about RMIT’s commitment to admissions transparency.
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 (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 English for Academic Purposes (EAP) Advanced Plus Certificate at RMIT English Worldwide.
Pathways
This course offers pathway options. If you don’t meet the entry requirements, a formal pathway might be your way in.
Undertaking a certificate, diploma, advanced diploma or associate degree can help you meet the entry requirements for your preferred course. These qualifications often provide credit, reducing the duration of your bachelor degree and helping you get the degree you want.
Use our Pathways finder or contact Study@RMIT for more information.
Credit and recognition of prior learning
Credit, recognition of prior learning, professional experience and accreditation from a professional body can reduce the duration of your study by acknowledging your earlier, relevant experience. Find out if you might be eligible.
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 program.
Fees
2021 indicative fees
In 2021, the annual student contribution amount (tuition fee) you will pay for a standard year of full-time study is between AU$3,950 to AU$14,500*.
Additional expenses
- Student services and amenities fee (SSAF): AU$313 maximum fee for 2021.
- Other items related to your program, including field trips, textbooks and equipment.
Annual fee adjustment
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.
Fees are adjusted on an annual basis and these fees should only be used as a guide.
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.
Learn more about fees for undergraduate study.
Paying your fees and applying for refunds
For information on how to pay your fees or how to apply for a refund, please see Paying your fees and applying for refunds.
All undergraduate and honours degrees have Commonwealth supported places (CSP) available.
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?
The Australian Government has introduced changes to university funding and student contribution fees under its Job-ready Graduates Package.
The fees in the table below apply to students commencing their program in 2021. Fees for continuing students are available at fees for Commonwealth supported students.
Each course (subject) falls into a band. 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 2021 for commencing students
Student contribution band by course (subject) |
Maximum annual student contribution amount (per EFTSL) in 2021 |
|---|---|
Education, Postgraduate Clinical Psychology, English, Mathematics, Statistics, Nursing, Indigenous and Foreign Languages, Agriculture |
$3,950 per standard year $493 per standard (12 credit point) course |
Allied Health, Other Health, Built Environment, Computing, Visual and Performing Arts, Professional Pathway Psychology, Professional Pathway Social Work, Engineering, Surveying, Environmental Studies, Science, Pathology |
$7,950 per standard year |
Dentistry, Medicine, Veterinary Science |
$11,300 per standard year |
Law, Accounting, Administration, Economics, Commerce, Communications, Society and Culture |
$14,500 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 FEE-HELP and/or SA-HELP loan application is successful, the Australian Government will pay RMIT, on your behalf, up to 100% of your fees. This amount will become part of your accumulated HELP debt.
You 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 2021 is $313.
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 2021 is AU$36,480.
The total indicative tuition fee for 2021 commencement is AU$129,360.
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.
Applying for refunds
Find information on how to apply for a refund as a continuing international student.
Looking for answers or more general infomation?
For frequently asked questions or how to find more information regarding applications and enrolments, fees, student support services, university policies and more, please visit our Frequently Asked Questions.