Programmes & Courses in Economics

1. INTRODUCTION TO PROGRAMMES IN ECONOMICS
2. BACHLEOR OF ARTS IN ECONOMICS
3. MASTER OF ARTS IN ECONOMICS
4. BACHLEOR OF SCIENCE IN ECONOMICS(Joint honours)
5. MASTER OF SCIENCE IN ECONOMETRICS
6. GRADUATE DIPLOMA IN ECONOMICS
7. POST GRADUATE DIPLOMA IN ECONOMICS
8. INTERNATIONAL ECONOMICS & BUSINESS
9. IS ECONOMICS SCIENCE OR AN ART. HOW TO CHOOSE?
10. ECONOMICS OR BUSINESS
11. ECONOMICS WITH OTHER DISCIPLINES
12. ECONOMICS COURSE OUTLINE
13. ECONOMICS GLOSSARIES

1. INTRODUCTION TO PROGRAMMES IN ECONOMICS : -

Courses in economics are an important element in a program of liberal education. They offer an understanding of how the economy operates and provide a basis for informed opinions on many public issues. In addition, there are varied employment opportunities for economists. Although employment as a professional economist generally requires a graduate degree, an undergraduate major in economics provides good preparation for careers in government, business, organized labor, trade associations, or teaching in the social sciences. It also provides an excellent base for graduate work in any of the social sciences or in professional schools such as law and business administration. Undergraduates enrolled in the Colleges of the Arts and Sciences may choose a major in economics leading to the degree Bachelor of Arts (B.A.) or to the degree Bachelor of Science (B.S.). The B.S. degree has a stronger quantitative component, which is necessary for graduate work in Economics and for a career in Economics with government agencies and businesses. The B.A. degree is somewhat broader and provides more flexibility in an undergraduate program.

A first degree in Economics or Econometrics will not only prepare you for a career as an economist in industry, the City or government, but will also be excellent preparation for a range of related careers such as accountancy, banking, and managerial jobs in general. The program of studies emphasizes a mix of theory and practical application to give you a broad understanding of economics. In addition to a foundation of coursework in general education, you will take specialized courses in "Principles of Economics," "Intermediate Microeconomics," "Intermediate Macroeconomics," and "Statistics." The economics curriculum enables you to develop a flexible program of study by choosing electives such as:

• International Economics
• Labor Economics
• Money and Banking
• Current Economic Problems
• Comparative Economic Systems
• Public Finance
• Economic Development

During your senior year, you can elect to research a specific area of economics through an independent study. In completing this exciting self-study opportunity, a member of the economics faculty will be available to advise and assist you. Sections of Principals of Economics I and II are scheduled to accommodate needs of students eligible to participate in the university-wide honors program. Special sessions are scheduled with the economics faculty to enable students to develop in-depth insights into economic concepts. Students will earn the Bachelor of Science in Business degree and will typically emphasize quantitative areas; financial aspects of business; or the business curriculum, which includes courses in management, marketing, or accounting.k

2. BACHLEOR OF ARTS IN ECONOMICS : -

Economics Courses:

• Econometrics
• Information Technology in Business
• General education economics
• Introduction to microeconomics
• Introduction to macroeconomics
• Microeconomics
• Macroeconomics
• Intermediate microeconomic theory
• Intermediate macroeconomic theory
• The evolution of economic sciences
• Labor economics
• Public finance and public policy
• Money and banking
• Economic history of Europe
• Economic history of the united states
• History of economic thought
• Labor history
• Economics of poverty and economic security programs
• The economics of women and work
• Women and men in the u.s. economy
• Introduction to mathematical economics
• Mathematical economics
• Managerial economics
• Econometrics
• Economics of medical care
• International economics
• Natural resource economics
• Regional economics
• Urban economics
• Economic development

Mathematics Course: { Click here to View the brief Ouline of these Courses }

• Introduction to Mathematical Economics
• Linear Algebra
• Introductory Differential Equations
• Applied Statistics
• Calculus I ,II & III
• Probability and An Introduction to Statistics

Links to some of the BA Economics Degree:

• BA Economics and Politics
• BA History and Economics
• BA Accounting and Economics
• BA Economics (European Exchange)
• BA Politics, Philosophy and Economics

3. MASTER OF ARTS IN ECONOMICS :-

About this Program:

The M.A. in Economics provides a thorough professional education in economics, finance and political economy. The program ensures that students develop a comprehensive, critical understanding of the theory and institutions of economic policy, and the ability to analyze the empirical content of policy issues. The program offers four alternative paths to the M.A. degree.

• Economics provides a high level of training in empirical and theoretical economics, with an additional focus on applied issues and policy questions.
• Economics and Finance builds onto this core comprehensive training in corporate and international finance, together with the specialized statistical skills required by professionals in these fields.
• Classical Political Economy furnishes a thorough grounding in classical political economic thought as well as in core economics and statistics.
• Interdisciplinary Political Economics adds to the core the opportunity to develop an interdisciplinary approach to policy questions, adding viewpoints from political science, sociology, gender studies, and history to those of economics.

From its inception, the Department of Economics in many universities has followed a distinctive approach that focuses on the theoretical and empirical analysis of capitalism. Its strategy is to examine capitalist systems from a global, institutional and historical perspective, emphasizing questions of economic policy. Thus, in addition to required courses in economic analysis and econometrics, our students study the emergence of capitalism, the structure and dynamics of advanced capitalism, the Third World in the global economy, and the history of economic thought. Individual courses often adopt a similar structure, attempting to interweave theoretical with historical and institutional considerations. The interdisciplinary tradition of the Graduate Faculty particularly supports this method of inquiry. The program aims to go beyond conventional arguments to develop a dynamic and historical view of economic systems. Although students are expected to master the main body of orthodox micro- and macroeconomic doctrine, the department attempts to broaden the scope of economic theory by utilizing such alternative tools of analysis as the theory of competition, capital theory, labor, gender and race, macrodynamics, and public policy. While the post-Keynesian, structuralist, and classical/Marxian traditions along with a strong emphasis on institutional development constitute the primary orientations within the department, the members of the faculty exhibit substantial diversity in their approach and application of these ideas.

Program Objective:

An intensive professional program designed to develop management skills, to deal with economic issues related to production, and allocation of scarce resources on the micro and macro levels. The Master of Arts degree in Economics is designed for those who expect to pursue a career in business, military or government and prefer a course of study that emphasizes the applications of economics to the problems of these areas

Core Courses: -

4. BACHLEOR OF SCIENCE IN ECONOMICS(Joint honours) : -

Economics is a means of analysing the key features of problems by modelling economic relationships mathematically and testing beliefs about economic behaviour against the known data. Because of this, your course will help you to develop knowledge of essential mathematical techniques such as calculus and statistics.

The BSc in Economics course attempts to provide a well-rounded coverage of the whole area of economics. The BSc in Econometrics and Mathematical Economics enables you to build a particularly strong quantitative background, which is becoming more and more important for a successful career in economics. The BSc in Economics with Economic History provides an option for students with a secondary interest in Economic History and who are not so interested in statistics and econometrics.

• BA / BSc Economics
• BA / BSc Financial Economics
• BSc Statistics and Economics
• BSc Computing and Economics
• BA / BSc Management Economics
• BA / BSc International Economics
• BSc Mathematics with Economics
• BSc Mathematics, Operational Research and Economics

Joint Honours:

A Brief Outline of the above programmes: -

The BSc degree in Mathematics and Finance:

This is a challenging degree. In every year students take courses in three different disciplines: mathematics, economics and accounting. Because of this breadth of material, and also because of the special challenges posed by the mathematics content of the course, the entry level is higher than for the other BSc courses. We ask for 22 points and at least a B in mathematics. The scheme is in the School of Social Studies.

The BSc degree in Mathematics with Accounting:

This scheme allows students to ‘major’ in mathematics while acquiring relevant accounting experience. In the second and third years of study students take one accounting course alongside their Mathematics courses. The usual entry requirement is 20 points with a C (or better) in Mathematics. Students enter through the School of Social Sciences. This scheme consists of Mathematics and Accounting courses in roughly equal number along with courses in Information Technology, Economics and Law. The scheme aims to train students in analytical thinking and logical deduction whether it be in the development of an argument or proof in Mathematics or in deriving a solution based on accounting principles.The usual entry requirement is 20 points with a C (or better) in Mathematics. Students enter in the School of Social Sciences.The scheme is expected to be fully accredited as a ‘relevant’ degree by the Board of Accreditation of Accountancy Educational Courses. Students who successfully complete the approved programme* should be entitled, on application to one of the following professional bodies

• Institute of Chartered Accountants in England and Wales
• Institute of Chartered Accountants in Scotland
• Chartered Association of Certified Accountants
• Chartered Institute of Management Accountants
• Chartered Institute of Public Finance and Accountancy

The BSc degree in Mathematics with Economics:

The usual entry level required for this scheme, which is in the School of Social Sciences, is 20 points, with at least a C in mathematics. Years two and three of the scheme are identical to those for the Mathematics degree, except that, in each year, one mathematics course is replaced by an economics course. At the end of the degree, a graduate has not only had a good training in mathematics, but also has a basic understanding of economics at both the micro-level and the macro-level.

The BSc degrees in Mathematics, Operational Research & Economics (MORE),and Statistics & Economics:

The usual entry level required for these schemes (in the School of Social Sciences) is 20 points, with at least a C in Mathematics. The second and third years of these two degree schemes blend varying combinations of mathematics (or statistics) and economics courses. Students may also include computing courses.

5. MASTER OF SCIENCE IN ECONOMETRICS : -

General Information:

The department of Economic Statistics offers a specialization in Econometrics within the joint Ph.D. program operated by the departments of Economics, Economic Statistics and Finance. The following documents describes the specialization in Econometrics:

Required courses for students specializing in Econometrics:

Economics and Finance: -

• Statistics
• Econometrics

Electives: -

• Topics in Econometrics
• Bayesian Methods in Econometrics
• Financial Econometrics

Links to some of the MSc Economics Degree:

• MSc Economics
• MSc Financial Economics
• MSc Public Financial Policy
• MSc International Economics
• MSc Management Economics
• MSc Global Market Economics
• MSc Economics and Econometrics
• MSc Financial and Business Economics
• MSc Accounting and Financial Economics
• MSc Applied Economics and Data Analysis
• MSc Financial Economics and Econometrics
• MSc Econometrics and Mathematical Economics

6. GRADUATE DIPLOMA IN ECONOMICS : -

Introduction:

The Graduate Diploma in Economics was first offered in 1980 to provide a course of study, usually one year full-time or two years part-time, for those wanting a basic understanding of modern economic analysis. It also provides introductory training for students intending to undertake the Master of Economics by coursework program. Only those who complete the course at a sufficiently high standard are eligible for admission to the Master of Economics program

Admission Requirements:

Admission to the Graduate Diploma in Economics course is open to all graduates in economics and to other persons with tertiary qualifications of sufficient standard. Applicants who do not have an adequate economics and/or quantitative background may be required to undertake some preliminary work in these areas in order to be eligible for admission to the diploma course. Applicants with a pass degree should note that the course assumes ability to cope with work of honors standard. Candidates normally commence the course in first semester. However, the Co-ordinator may approve commencement in second semester for candidates with an appropriate academic background

Links to some of the Diploma Courses:

7. POST GRADUATE DIPLOMA IN ECONOMICS : -

Course Objectives:

To enable Bachelor of Commerce or equivalent candidates to undertake a broader and deeper range of training in economics than is typically feasible within an undergraduate degree. To inform students of some of the major research and theoretical preoccupations current in the discipline. To provide an appropriate preliminary program for students who do not have an honors degree but who are intending to proceed to a Masters program in economics

Admission Requirements:

Admission to the course is open to all graduates in economics and to other persons with sufficient tertiary qualifications. The requirement for admission is a first degree, a major sequence in economics, at least two subjects in quantitative methods and normally an average of H2B (70% or better) in at least two third year (level three) subjects. Professional experience in economics may be treated as a substitute for formal undergraduate coursework in economics and/or econometrics if appropriate. Applicants who do not have an adequate economics background will be required to undertake some preliminary work in order to be eligible for admission to the Diploma course. Applicants should note that the course assumes ability to cope with work of Honors degree standard.

Duration:

A full-time candidate should complete the course in two consecutive semesters, taking four subjects in each semester. A part-time candidate should complete the course in four consecutive semesters, taking two subjects in each semester. The maximum time permitted for completion is four years

Course Structure:

The Diploma consists of eight semester-length subjects comprising two core economics subjects, a quantitative subject and five optional subjects.

1. Two core subjects:

• Diploma Microeconomics
• Diploma Macroeconomics

2. At least one quantitative subject chosen from:

• Basic Econometrics
• Econometrics
• Applied Microeconometric Modelling
• Time Series Analysis & Forecasting
• Econometric Techniques
• Financial Econometrics { Click here to View the Brief Ouline of these Courses }

Selected from level three, four and advanced offerings of the Faculty as approved by the Academic Convenor of the Postgraduate Diploma in Economics program. An optional subject may not be taken if a candidate has previously completed a subject of similar content. Note that some fourth year (level four) subjects are not available to Diploma students.

Please Note:

1. A maximum of two Masters subjects (level six) can be included as part of the Postgraduate Diploma in Economics.
2. A maximum of three third year subjects (level three) can be included within the five optional subjects and not more than two optional subjects can be done outside the department of Economics.
3. Students may enroll in 333-201 Business Finance. In such cases, Business Finance will count as a level three subject.
4. Students enrolled in the Postgraduate Diploma in Economics may not enroll in the subjects listed below > Research Techniques; > Public Sector Economics-Micro; > Public Sector Economics-Macro
5. Students wishing to enter the Master of Commerce (Specialization in Economics) should note an average of H2B (70%) or better is required in order for candidates to be eligible for entry to the Master of Commerce.
6. Students wishing to progress to the Master of Commerce (Economics) should note that they may only commence in Semester One of any year

8. Click here to View INTERNATIONAL ECONOMICS & BUSINESS: -

9. ECONOMICS as a B.A. or B.S.-HOW TO CHOOSE?

The Department of Economics offers both Bachelor of Arts degree and the Bachelor of Science degree in economics. The two degrees differ in admission requirements and in graduation requirements. Which degree is best for you depends upon your abilities, your interests, and your goals.

If the appeal of economics is its challenging and analytical approach to explaining social phenomena and if you are enthusiastic about economic problems and questions and the answers economists offer, then the B.A. is probably the choice for you. If you discovered economics as you were taking other stimulating and rigorous courses in mathematics and the sciences, it is possible that the B.S. in economics with its more pronounced quantitative emphasis is the choice for you.

What are your goals after graduation? Most students will graduate and enter some sort of employment, finding that a career takes shape after a succession of employment positions. Most students do not have plans for advanced study after graduation in economics or other fields. Some students consider that they might go on to graduate or professional school such as law, medical school, business administration, public affairs, education, or international studies. The B.A. in economics provides the flexibility to allow all these students to pursue a demanding major in a social science, be prepared for employment in a variety of areas, and to take related and complementary courses outside the department.

If your goal is to earn a Ph. D. in economics, then completing the requirements of the B.S. would be the appropriate choice for you. Both the admission and the graduation requirements for the B.S. in economics prepare one for and give an indication of the nature of graduate study in economics. To be admitted to the BS one must have a year of calculus, and a year of calculus is the minimum mathematics required by graduate programs in economics. The more rigorous and quantitative courses required to graduate with a B.S. give one a taste, at the undergraduate level, of the emphasis on economic theory and statistics characteristic of graduate study in economics.

If you intend to earn a Master's degree, for example in one of the Applied Economics programs offered by some universities, the B.S. is also the appropriate choice for you because it has been designed with preparation for graduate studies in economics in mind.

10. ECONOMICS OR BUSINESS?

People frequently ask "What's the difference between economics and business?" "Aren't they about the same thing?" Economics is the study of how resources are used by society to satisfy human wants. Business administration is the study of methods for improving the profitability of an individual business enterprise.

The tools of economics analysis are used in business administration courses and students applying to the undergraduate business major are required to take introductory economics courses. Business administration also calls on tools such as accounting and marketing that are more narrowly concerned with the management of a business enterprise. Economic analysis has had an enormous impact on the development of business administration studies and on other social sciences in the second half of the 20th century.

Managerial Economics Track:

This track has a managerial focus. It is designed to equip students for entry into administrative and other positions in business and government. The degree focuses on those who expect to pursue a managerial career in business or government and prefer a course of study that emphasizes the applications of economics to the problems of these areas. Those students who have the objective of further graduate study leading to the doctorate should choose the alternate degree program, which emphasizes applied economics tools.

11. ECONOMICS WITH OTHER DISCIPLINES: -

Taking first the subjects in our title, Economics studies the choices individuals, businesses and societies make in how much to spend, save and invest, and how these choices work with and against each other; Political Science studies the interaction between power and ideas, and the structures and systems people have developed for governing societies.

Law examines and analyses the rules that society establishes to promote justice and order. The system of states, the factors which influence their behaviour and the ways in which they organise relations between them, are studied in International Relations.

The present and future development of societies is, of course, influenced by their past; and relevant aspects of political, economic and international history are all taught at the School. Societies have their effects on the environment, and on where human activities are located and relate to each other spatially: Geography seeks to understand these aspects of social relationships.

Sociology examines different forms of order, disorder and change in social life, and particularly the everyday assumptions people make about these aspects of their social world; Social Psychology analyses the social processes influencing human social behaviour and the cognitive processes by which people interpret their experience of social life. Social Anthropology is concerned with the variety of cultural solutions to the dilemmas of social existence, with particular attention to people often called primitives, or peasants, or cultural minorities. Social Policy studies the policies of modern industrial societies on social services and welfare benefits of all kinds: health, education, housing, pensions, etc. Population Studies considers the implications of population growth, migration, fertility and mortality from a range of viewpoints.

Industrial Relations analyses the relationships between workers, trade unions, management and the state in advanced industrial societies. A study of Accounting and Finance demonstrates how wealth is measured and managed, and how that process influences the management of organisations. Management emphasises the application of theory to the practical running of organisations.

Philosophy considers problems concerning human knowledge and the understanding and evaluation of logic and argument; at the School, there is a particular expertise in the philosophy of science and social science. Mathematics and other forms of quantitative understanding are important means of analysing human activities: Actuarial Science applies mathematical and statistical skills and understanding to the work required for insurance, pensions and other financial services, and Business Mathematics and Statistics considers the relationships of facts and figures as well as mathematical techniques in their business applications, while Management Science studies mathematical and statistical techniques for management purposes in association with courses from other relevant fields.k

12. Click here to View ECONOMICS COURSE OUTLINE

13. Click here to View ECONOMICS GLOSSARIES

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