The need for greater involvement of the nursing profession in cost containment efforts has been documented extensively. More thorough education of nurses in the subject of health economics (HE) is one of the factors that could contribute toward achievement of that goal. The project's main contribution is the development of the unique list of essential HE competencies for baccalaureate nursing students. A set of six HE competencies was developed. Their validity was unanimously approved by the panel of five experts and additionally supported by the survey results (with individual competencies' approval rates of 67% or higher). The incorporation of economic thinking into the nationwide standards of baccalaureate nursing education, and professional nursing competencies, will enhance the capacity of the nursing workforce to lead essential change in the delivery of high-value affordable health care nationwide.