Bachelor of Business (Economics and Finance)
Founded in 1887, RMIT is one of Australia’s original educational institutions.
RMIT has a five-star QS ranking for excellence in higher education and is ranked 18th in the world and 3rd in Australia among universities less than 50 years old (2017-18 QS Top 50 Under 50 index).
RMIT has been in partnership with SIM since 1987, with over 36,000 SIM-RMIT graduates. www.rmit.edu.au
The philosophy underlying the programme is that a rapidly changing world requires adaptable analytical skills. This degree is designed to develop broad business skills as well as more specialised technical knowledge in the fields of economics and finance.
Students will gain a theoretical and practical perspective of the modern finance industry and will analyse the economic context relating to real issues such as inflation, unemployment, taxation, global finance and trade, inequality, international competition, consumer behaviour and economic growth.
Gain a career edge in business & finance
The business world is competitive, demanding that you have the right qualification, skills and domain knowledge to survive and thrive.
Taught by both RMIT Academic Staff and local lecturers, this course of study leads to a fully-accredited Australian degree which also allows you to be accepted into Master of Finance programme.
You acquire a strong technical knowledge of economics and finance, and develop broad business skills required for high level economic and financial management.
Professional Accreditation or Recognition
Students and graduates of the programme are eligible to apply for membership of the Financial Services Institute of Australasia (FINSIA).
Graduates who undertake additional specified courses can have these counted towards partially fulfilling the academic requirements for Associate Membership of CPA Australia.
For further information on accreditation benefits, professional body guidance and membership opportunities for students and graduates, visit:
Graduates may further their studies in the Masters programme.
Graduates will be equipped with knowledge and skills in the core areas of business, economics and finance, and the capability to apply these skills in multidisciplinary environments. This programme provides opportunities for focused and professional training, preparing graduates for a range of occupations and industries such as banking, stockbroking, funds management, insurance and financial services.
RMIT engages Singapore-based lecturers who demonstrated professional and academic competence. They are supported by RMIT Academic Staff who regularly visit Singapore for consulting, monitoring the programme, moderating assessment and intensive teaching sessions.
The programmes focus on both the theory obtained in the classrooms, while students develop an understanding and the confidence to be effective in practice. Beside lectures, students do case studies, problem-solving exercises, projects and self-managed learning activities.
Lectures are normally conducted by both RMIT Academic Staff and Local Lecturers.
Part-Time lectures are typically of 3 hours duration per session with 10 to 15 minutes break, which are held in the evenings from 7 to 10pm on weekdays or on Saturday afternoons at SIM Headquarters, 461 Clementi Road, Singapore 599491.
The maximum allowed period for a student to complete the programme for part-time is
- Full programme (24 modules): 9 years
- Advanced 1 (17 to 20 modules): 6.5 – 7.5 years
- Advanced 2 (12 to 16 modules): 4.5 - 6 years
Minimum Class Size
Minimum class size to commence: 50 students. Students will be informed within 30 days before class commences.
To be awarded the Bachelor of Business (Economics And Finance) degree, student must complete, or exempted from completing (depending on their advanced standing status), a total of 24 modules comprising:
8 Common Core Modules
- BUSM4192 Introduction to Management
- ACCT2060 Accounting in Organisations and Society
- ECON1025 Prices and Markets
- MKTG1199 Marketing Principles
- ECON1035 Business Statistics 1
- ECON1016 Macroeconomics 1
- ISYS2059 Business Information Systems
- LAW2446 Commercial Law
12 Degree Major Modules
- BAFI1005 Financial Markets
- BAFI1012 Business Finance
- ECON1045 Macroeconomics 2
- ECON1064 Quantitative Analysis
- BAFI1045 Investment
- ECON1272 Basic Econometrics
- ECON1056 Price Theory
- LAW2460 Law of Investments and Financial Markets
- BAFI1029 Risk Management
- ECON1089 International Trade
- ECON1085 International Monetary Economics
- BAFI1019 International Finance
4 Electives, which may be made up of :
- 1 Business Minor OR
- 4 Electives
For List of available Majors, Minors and Electives, click here
For Modules Outline, click here
Full Programme – 24 Modules
- 3 GCE 'A' Level passes or
- Minimum of 3 H2 level subjects with a pass or above
Advanced 1 – 17 to 20 Modules
- An RMIT approved non-business diploma from any of the local polytechnics
Advanced 2 – 12 to 16 Modules
- An RMIT approved relevant business diploma from SIM or any of the local polytechnics
Other qualifications will be considered on a case-by-case basis by the university.
If an applicant does not satisfy the minimum entry requirement, the applicant may be able to satisfy the requirement if they can produce evidence of other equivalent qualifications or combination of qualifications and experience as assessed by RMIT University on a case-by-case basis.
For Information on Overseas Qualifications, click here
English Language Requirements
Applicants who have not achieved a minimum of C or better in General Paper at AS/H1 Level or Knowledge and Inquiry at H2 must provide evidence of at least ONE of the following:
- IELTS (Academic) - 6.5 (no band less than 6.0);
- TOEFL - Paper-Based = 580 (TWE 4.5);
- TOEFL - internet-Based Test (iBT) = 92, with minimum of 20 in all sections;
- Pearson Test of English (Academic) (PTE(A) = 58 (no communication band less than 50);
- Cambridge English: (Advanced CAE) (up to 2014) = 58 with no less than 'borderline' in each skill;
- Cambridge English: (Advanced CAE) 2015 onwards: 176 with no less than 169 in any component;
- RMIT English Worldwide (REW) Advanced Plus or equivalent;
- Successful completion of a recognised approved Diploma qualification or higher, where the language of instruction was English.
- Have successfully studied Singapore Cambridge 'A' levels at a Singaporean high school for at least 2 years and met the academic entry criteria of 3 A/H2 level passes
- Other equivalent qualifications approved by RMIT will be considered
4 years: S$44,426.40 for 24 modules, payable over 8 semesters
3 - 3.5 years: S$37,022.00 for max 20 modules, payable over 7 semesters
2 - 3 years: S$29,617.60 for max 16 modules, payable over 6 semesters
- The fees quoted for the 2019 January intakes are based on S$1,851.10 per module (inclusive of prevailing GST)
- The programme fee is exclusive of textbooks.
- Actual semester fees may vary depending upon exemptions granted and modules taken.
- First semester fees payable upon acceptance of offer. Subsequent semester fees payable before commencement of semester.
- Students who repeat a failed module must pay a repeat fee of S$1,851.10 per module (inclusive of prevailing). Not all modules will be offered every semester.
Scholarships & Awards
Applicants holding qualifications other than a diploma from SIM GE or a Singapore local polytechnic, should apply for advanced standing at the time of application. On receipt of a credit application, RMIT will assess your previous study to determine if the body of knowledge and practice has changed significantly. If the course content has changed significantly and you have not maintained sustained practice in the field of study, your application may be rejected.
Diploma holders from SIM GE or a Singapore local polytechnic
Holders of a diploma from SIM GE or a Singapore local polytechnic will be granted advanced standing in RMIT business degrees.
Depending on the degree in which a student enrols:
- Diplomas categorised as business diplomas are granted 12 exemptions.
- Diplomas categorised as non-business diplomas are granted up to 8 exemptions.
For details on diplomas groups and applicable credit: http://www1.rmit.edu.au/bus/singaporecredit
Average Teacher-Student Ratio 1:49
Smallest Class Size: 5
Largest Class Size: 300
Assessment & Exams
Assessments vary from module to module. Students are normally assessed by continuous assessments in the form of mid-term class tests, individual and group assignments and projects, case studies discussion and class presentations.
Most modules have a final examination at the end of semester. The examinations are held in late April/mid-May for semester commencing in January and in late October/mid-November for semester commencing in July. The examinations are scheduled on weekdays and Saturdays, in the morning and afternoon.
Students are usually allowed to repeat a module once only. For advanced modules with pre-requisites, students are required to satisfactorily meet the pre-requisites before undertaking the modules.
Local, full-time students: 75%.
International students: 90%.
Award & Graduation
Students will be considered as being eligible for the award of Bachelor of Business (Economics And Finance) when they have satisfactorily completed all academic requirements of the programme as detailed in the programme structure.