Principles of Economics | Federation University

BUECO1509 Principles of Economics

This unit provides an introduction to the main ideas and concepts involved in modern economics, and attempts to provide students with an understanding of how the economy works; how individuals, businesses and governments form and shape their decisions using economic principles; and the role of public policy on outcomes including the trade-offs faced in making policy decisions. It considers both microeconomics - the analysis of choices made by individual decision-making agents (households and businesses) - and macroeconomics - the analysis of the economy as a whole. Students will develop skills to critically analyse real-world issues using the perspective of an economist, and communicate ideas and arguments about economics in a logical, coherent and evidenced based manner.

Commonwealth supported place (CSP)

A CSP is subsidised by the Australian Government and students pay a contribution amount. Each unit is classified into a band, depending on the study area of the unit (this discipline may be different from the study area of your course).

2026 contribution amount* $2,175
2026 grandfathered contribution amount^ $1,703

^ If you are a continuing student who commenced your course before 1 January 2021, you will continue paying the same amount as you would have, had legislative reforms not been implemented, for any units that would otherwise have an increased student contribution amount.

* For Psychology and Social Work bands the unit fee amount is determined by accredited courses. Students in Postgraduate Clinical Psychology, Professional Pathway Psychology or Professional Pathway Social Work accredited courses should refer to the information below.

Domestic full fee–paying places

A domestic full fee–paying place is one that isn’t subsidised by the Australian Government. These places are offered to postgraduate students or those who are ineligible for a CSP. Domestic postgraduate tuition fees are course-based annual fees, which means individual unit fees vary according to the degree. To find out more about domestic tuition fees and view the relevant fee schedule visit our fees website.

International full fee–paying places

International tuition fees are course-based annual fees and the unit fee you pay will vary according to the degree you are studying. To find out more about international tuition fees and view the relevant fee schedule visit our fees website.

Course or unit outline