This Economics specialisation is designed to train students as economic professionals, nurturing their critical thinking and analytical skills in social or public policy reforms and debates in a contemporary global economic context. The programme strengthens the students understanding in mandatory economic theory and practices, primarily on the two core areas of micro and macro-economics and advanced quantitative techniques of modern economics.
The syllabus is grounded in real world streams of concentrations, such as principles of economics, economic modelling and estimation, economic theory and policy, development economics, environmental economics, industrial economics, financial economics, applied econometrics, and many more. Students will have acquire theoretical and practical knowledge of modern economics, and thus enable them to critically understand and evaluate global businesses, in relation to various economic issues.
In an ever changing globalised business environment, businesses need to be aware of changes and make fast, well-informed and correct decisions in order to survive. This module is concerned about the principles of microeconomics as they apply to the problems within the business environment. The module outlines the various microeconomic tools of analysis and analytical frameworks that are essential for business students to learn and understand to enable them to comprehend the economic environment of business and solve problems in a structured way. It complements other Level One business modules and provides a basis for Level Two and Three modules in both business and economics.
This module introduces basic macroeconomic framework where students will learn to use aggregate demand/supply model, and Keynesian expenditure analysis to understand and interpret macroeconomic phenomena such as real GDP, potential output, business cycles, interest rates, and how federal government policies impact upon such macroeconomic indicators.
There are numerous constraints faced and objectives need to be achieved in the daily economic activities in both micro and macro perspectives. This module concentrates on the introduction of econometric tools to analyse and solve competing economic models. The students will also be able to examine some key analytical and modelling techniques that are widely used in modern economics. The module will also enhance students’ mathematical, statistical and computer-related skills, and their understanding of the problems associated with using published economic data. The module also provides a foundation for level 3 economics modules, especially the project.
This module emphasizes the importance of economic issues and developments in the study of organizations and management. It explains in a non-technical way different economic approaches such as behavioural theory of the firm, management theory, agency theory, transaction cost economics, economics of strategy and evolutionary approaches. The real-world practical examples will help students to understand how the concepts relate to economic and organizational problems occurring in the world today.
International economics consists of awareness and understanding of contemporary global economic events, as well as, issues raised by the special problems of economic interaction within and between countries. Major themes covered throughout the study of international economics include trade, capital markets, exchange rate, financial crisis, management and international policy coordination.
The course begins by exploring the prospects for economic growth and development in poor nations as indicated by economic analyses and historical growth experience. It further explores the classical theories of economic development. Important issues, such as policies, solutions and implications, pertaining to inequality, growth and poverty are discussed thoroughly. The Human Capital Theory and the role of education and health in development are also discussed. Focus includes not just on the quantity but also the quality of service provision and the impact of AIDS on the developing economies. In addition, agricultural institutions and stagnation, sustainable development and environment degradation are explored along with policies that can be followed by developed and developing countries to solve these problems. The course further takes a detailed look at the role that international trade, foreign investment and foreign aid plays in development. Examples from Asia, Africa and Latin America are used to illustrate different problems and solutions of development.
In a continuously ever changing globalised business environment, businesses need to establish competitive strategies within their market structures. Hence, quick and well-informed decisions are warranted in order for these businesses to survive. This module is concerned about the principles of microeconomics as they apply to the business environment. The module outlines the various microeconomic tools of analysis and analytical frameworks that are essential for business students to learn and understand to enable them to comprehend the economic environment of business in a structured way. It complements other Level One business modules and provides a basis for Level Two and Three modules in both business and economics.
There are numerous econometric problems in the data available for empirical testing. This module concentrates on the introduction of econometric tools to analyse empirically, ways of identifying and dealing with these problems whereby they will be exposed to diagnostic tests and criteria for choosing models. Selected applications such as: modelling both at micro and macro level such aggregate consumption, inflation, money demand, national income to name a few will be introduced. The students will also be exposed to special problems of using time-series data and selected forecasting techniques. This will also be a good for the project which will be undertaken in the final semester.
The economics degree primarily provides the students with the required training in economic principles, econometric techniques, mathematical modelling, and critical analysis of recent economic issues. Therefore, a degree in economics offers manifold successes and realizations such as providing a strong foundation or gateway to a diverse set of career opportunities in renowned organizations either in the private or public sectors of a country.
Particularly, an economics graduate can choose different available options for their careers, such as economic analysts, advisers, consultants and economists. The degree also offers a means of actively engaging and practically understanding many of society’s most persistent economics issues.
This specialisation is offered as an option as part of the Bachelor of Business (Hons) degree.
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