Bachelor of Business – Economics major

Bachelor of Business – Economics major

Your guide to majoring in Economics with the Bachelor of Business at RMIT.

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Student type:
Learning mode:
On campus
Entry score:

See course admissions

Duration:
Full-time 3 years
Part-time 6 years
Fees:

Commonwealth Supported Places

Next intake:
February, July
Location:
Melbourne City
Learning mode:
On campus
Entry score:

See course admissions

Duration:
Full-time 3 years
Fees:

AU$ 42,240 (2025 annual)

Next intake:
February, July
Location:
Melbourne City

Introduction to the major

When you choose the Economics major in the Bachelor of Business at RMIT University, you’re choosing in-depth study in a constantly evolving discipline. 

You’re undertaking a professional, highly focused, in-depth course of study designed to meet current employer demands and prepare students for future job opportunities.

To ensure our students are at the forefront of their profession, RMIT incorporates new and emerging technologies in economic and business analysis in our delivery. 

This innovative approach to education and training is part of our commitment to providing graduates with real-world skills that are globally transferable.

The Economics major equips students with the confidence to apply their knowledge and skills for career progression in both the private and public sectors. This involves both a broad-based multidisciplinary approach and the opportunity for focused, professional skill-building in key areas of economics, analytics and behavioural science.

Courses available with this major

Choosing a major is a key step in shaping your future. It gives you the chance to tailor your studies to your career goals and personal interests.

The major you choose will help you develop the skills and knowledge you need in your field, while also opening doors to valuable networking opportunities.

You will have the opportunity to take this major in the following courses:

Why choose to major in Economics with the Bachelor of Business?

Tailor your learning

Undertake in depth study in economics complemented with a choice from 14 majors and 32 minors.

Global skills

Use globally recognised skills to tackle challenges anywhere in the world.

Informed by industry and cutting-edge research

Ranked 8th in Australia for economics (QS 2024 by subject)

Alicia Grech, Bachelor of Business, majoring in Economics and Finance
I believe that economics and finance are the instruments needed to create change in our society. It provides a framework to interpret the world, and sheds light on the consequences of business and political decisions.

- Alicia Grech, Bachelor of Business, majoring in Economics and Finance

Career outcomes

Graduates from RMIT's Economics major develop strong skills in key areas such as:

  • Economic theory and principles
  • Data analysis and statistical methods
  • Policy evaluation and design
  • Market dynamics
  • Global economic issues.

These skills enable you to analyse complex economic situations and provide insights that inform important decisions in various sectors. You’ll learn how to tackle real-world challenges like poverty, inequality, and sustainability.

With an Economics major, you'll be ready for a wide range of roles where you can apply your expertise to real-world economic problems. Whether you’re working in banking, policy analysis, consulting, data analytics, or social development, your skills will help organisations make informed decisions that drive positive outcomes. The demand for economists is growing, especially as businesses and governments increasingly rely on economic analysis to navigate complex global landscapes.

Salary expectations vary depending on the role and experience, but economics professionals typically earn competitive salaries. For example, entry-level roles like economic analysts can start at around AU$70,000 a year, while senior positions such as policy advisors or economic consultants can see salaries exceeding AU$100,000, depending on experience and the industry.

Subject selection guide

Below is a guide to the roadmap for your major, outlining the subjects and progression through the course.

Please note that this is the recommended sequencing only and is subject to scheduling.

Year of study Semester of study Subjects
Year 1 Semester 1 1. BUSM2562 Understanding the Business Environment*
2. BUSM2567 Business Decision Making*
3. ECON1042 Macroeconomics for Decision Making+
4 Second Major subject OR Minor subject OR Business Option subject
Semester 2 1. BUSM2572 Business in Society*
2. BUSM2577 Integrated Perspectives on Business Problems*
3. ECON1048 Managerial and Business Economics+
4. Second Major subject OR Minor subject OR Business Option subject
Year 2 Semester 1 1. ECON1066 Basic Econometrics+
2. Select Economics Elective from the list+
3. Second Major subject OR Minor subject OR Business Option subject
4. Second Major subject OR Minor subject OR Business Option subject
Semester 2 1. ECON1611 Big Data, Machine Learning and Society+
2. Select Economics Elective from the list+
3. Second Major subject OR Minor subject OR Business Option subject
4. Second Major subject OR Minor subject OR Business Option subject
Year 3 Semester 1 1. ECON1340 Strategic Games for Business+
2. Second Major subject OR Minor subject OR Business Option subject
3. Second Major subject OR Minor subject OR Business Option subject
4. Elective
Semester 2 1. BUSM2582 Business Graduate Portfolio^
2. ECON1339 Behavioural Economics^
3. Elective
4. Elective

Elective options

Electives give you the opportunity to further specialise your studies. Choose two electives from the options below, depending on course prerequisites:

  • ECON1259 Development Economics
  • ECON1341 Psychology for Business Decisions
  • ECON1349 The Blockchain Economy
  • ECON1061 Forecasting and Quantitative Analysis
  • ECON1086 Business in the Globalised Economy
  • ECON1590 Survey and Experiments for Business
  • ECON1594 Business Challenges in the Digital Economy
  • ECON1582 International Industrial Organisation
  • ECON1586 Diverse Perspectives on the World Economy
  • ECON1223 Data Modelling Techniques for Business (previously known as Econometric Techniques).

Refer to the Higher Education course guides to learn more about individual subjects.

Key to subject selection

Foundation subject *
Major subject +
Capstone subject ^

Complementary majors and/or minors

By integrating a second major or a range of minors you will deepen your expertise in a specialised area while gaining a well-rounded understanding of how your chosen interest's principles intersect with other fields.

This combination of knowledge and skills will prepare you for the complexities of the modern business landscape and equip you to make a meaningful impact in your chosen career path.

All majors and minors in the Bachelor of Business are complementary. Suggested combinations are listed below: 

Social Impact major

Combining an economics major with a social impact major at RMIT University provides a unique opportunity to integrate rigorous economic analysis with a focus on creating positive societal outcomes, preparing you for a fulfilling career that makes a difference in the world.

Finance major

Economics and finance, while distinct fields, are deeply interconnected; finance relies on economic theories and methods to inform investment decisions and effectively manage financial risk, creating a complementary relationship that enhances both disciplines.

Marketing major

Marketing involves the coordination of various activities such as advertising, pricing and distribution. Economics can help in understanding the impact of these activities on the overall economy.

Accounting in Business minor

Accounting involves the coordination of various activities such as bookkeeping, auditing and tax preparation.

Bachelor of Business full course information

This is just one of the 14 majors that you can choose from. Visit the Bachelor of Business course page to find full course information, explore your study options, and get details on entry requirements, pathways, fees, plan structure and how to apply.

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Acknowledgement of Country

RMIT University acknowledges the people of the Woi wurrung and Boon wurrung language groups of the eastern Kulin Nation on whose unceded lands we conduct the business of the University. RMIT University respectfully acknowledges their Ancestors and Elders, past and present. RMIT also acknowledges the Traditional Custodians and their Ancestors of the lands and waters across Australia where we conduct our business - Artwork 'Sentient' by Hollie Johnson, Gunaikurnai and Monero Ngarigo.

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