UNIVERSITY CATALOG
2016-2017



DEPARTMENT OF ECONOMICS


Economics is the science of making choices in allocating scarce resources for consumption, production, and distribution of goods and services. It endeavors to rationally understand behaviors of decision makers and how these behaviors can be changed. Decision makers are called upon to make these choices within various institutional settings such as households, firms, financial institutions, and governments. Economics emphasizes the numerical use of problem-solving skills and applies quantitative methods of analysis to investigate choices-constrained maximization to satisfy human needs. It provides the skills to assess market fluctuations by identifying correlative factors and determine their impacts on various economic sectors.

Careers in Economics span a broad range of sectors such as financial, environmental, political, education, and research. Graduates in Economics are sought by financial institutions, insurance companies, international businesses, and non-business organizations and governments. Many graduates elect to pursue graduate education in order to improve their knowledge and skill to perform complex economic analyses and provide information necessary to formulate business strategies and develop public policies. The BBA in Economics complements other business concentrations and related social sciences to provide a strong undergraduate foundation for graduate studies in Economics and other related disciplines.

Mission Statement

The Economics Department offers a program leading to Bachelor of Business Administration in Economics to create intellectual capital for knowledge based sustainable economy. Through rigorous teaching, innovation and research, the program engages faculty, students and the business community to provide solid economic foundation, in theory and practice, for sound business decisions. The program prepares students for professional careers in a vastly changing and challenging global economy.

Vision

The Economics Department aspires to become a leader in economic education recognized for research-informed teaching and active engagement with the business community.

Values

The Economics Department is guided by the following values:

  • Dedication to liberal arts education
  • Lifelong pursuit of learning
  • Innovation and continued excellence in teaching
  • Social responsibility, moral and ethical Integrity
  • Respect for freedom of thought and expression
  • Interdisciplinary and cross-disciplinary collaboration


Bachelor of Business Administration in Economics


Learning Outcomes:

Upon completion of the BBA in Economics the student will be able to:

  • Appreciate the economic way of thinking, acquire critical thinking skills and apply the analytical framework of economics to understand consumer behavior and business decisions
  • Understand the interrelationships between individual markets, industries, government and the overall performance of local, regional and global market economies
  • Utilize theoretical models to understand development and resource problems and formulate policy instruments to address them and reconcile economic activity, corporate social responsibility and social welfare
  • Identify problems and apply quantitative skills to individual and business decisions while taking to account strategic considerations and public policy issues such as growth, inflation, international trade, unemployment, pollution, and environmental degradation
  • Use written and oral presentations to communicate interpretation of statistical measures to problems in economics

Economics Degree Requirements (124 Credit Hours)

To receive a BBA in Economics, students must complete at least 124 credit hours:

General Education Requirements (49)
BBA Core Courses (37)
Economics Major Courses (18)
Internship & Common Capstone (6)
Free Electives (14)
   

BBA Core Courses (37 Credit Hours)

BBA students must complete the following core courses:

ACCT 201 Principles of Financial Accounting (4)
ACCT 205 Managerial Accounting (3)
BEAL 401 Legal & Ethical Issues in Business (3)
  OR  
BEAL 403 Corporate Governance & Ethics (3)
BUS 210 Research Methods for Business (3)
BUS 321 International Business Management (3)
ECON 200 Principles of Microeconomics (3)
ECON 201 Principles of Macroeconomics (3)
FINC 332 Financial Management (3)
HR 205 Human Resource Administration & Development (3)
MGMT 201 Principles of Management (3)
MGMT 304 Business Relationship Management (3)
MRKT 200 Principles of Marketing (3)

Economics Major Courses (18 Credit Hours)

Students majoring in economics must complete the following 6 courses (18 credit hours):

ECON 302 Quantitative Methods for Business & Economics (3)
ECON 310 Intermediate Microeconomics (3)
ECON 312 Intermediate Macroeconomics (3)
ECON 413 Economics Capstone: Development & Resource Economics (3)

In addition, students must complete a further 2 courses in Economics (6 credits, designated ECON at 300-level or above) offered by the College of Business and Economics.

Internship and Common Capstone


ECON 470 (3 credit hours)

All students must participate in an Internship Program for each BBA Major. The Internship Program provides students with an opportunity to demonstrate their capacity for leadership, teamwork, and business activity in the context of work experience. Internships are completed in the senior year and while in residency at AUK. Priority is given to graduating students. For the duration of the semester, students are responsible for working 42 hours per semester for each credit hour. Students are to refer to the College’s Internship Handbook for further details of the internship process, requirements, and method of assessment.

Common Capstone BUS 490 (3 credit hours)

All BBA students are required to complete the Common Business Administration Capstone course. This course uses cases studies to integrate material from the different business subjects learned in the BBA program. The Capstone requires senior standing.

Free Electives (14 credit hours)


Students must take sufficient electives to complete the 124 credit hour requirement for graduation. Students are strongly advised to consult with their academic advisor when choosing these electives.

Bachelor of Business Administration (ECON) 2016-2017 4 Year Plan*


At least 36 credit hours must be at the 300-400 level

YEAR 1 SEMESTER 1 (FRESHMAN)
Prefix Number Title
Gen Ed ENGL 100 Foundations of Academic Reading and Writing 4
Gen Ed ENGL 101 Approaches to Critical Reading and Writing 3
Gen Ed UNIV 100 Essentials of Learning 2
Gen Ed ARAB [A] 3
Gen Ed HUM [H] 3
Gen Ed MATH 110 Pre-Calculus 3
         
YEAR 1 SEMESTER 2 (FRESHMAN)
Prefix Number Title
Gen Ed ENGL 102 Writing & Information Literacy 3
Gen Ed STAT 201 Statics 3
Gen Ed ARAB [K] 3
Gen Ed HUM [H] 3
Gen Ed CSIS 110 Foundation of Information Systems 3
         
YEAR 2 SEMESTER 3 (SOPHOMORE)
Prefix Number Title
Core MGMT 201 Principles of Management 3
Gen Ed UNIV 110 University, Community, and Citizenship 3
Core ECON 200 Principles of Microeconomics 3
Core ACCT 201 Principles of Financial Accounting 4
Free Elective 3
         
YEAR 2 SEMESTER 4 (SOPHOMORE)
Prefix Number Title
Core BUS 210 Research Methods for Business 3
Gen Ed SOCSC [S] 3
Core ECON 201 Principles of Macroeconomics 3
Core ACCT 205 Managerial Accounting 3
Core MRKT 200 Principles of Marketing 3
         
YEAR 3 SEMESTER 5 (JUNIOR)
Prefix Number Title
Major ECON 302 Quantitative Methods for Business & Economics 3
Core MGMT 304 Business Relationship Management 3
Core FINC 332 Financial Management 3
Core HR 205 Human Resources Administration & Development 3
Major ECON 305 International Economics 3
         
YEAR 3 SEMESTER 6 (JUNIOR)
Prefix Number Title
Gen Ed SCI [P] 4
Major ECON 310 Intermediate Microeconomics 3
Major Elect ECON 3
Core BUS 321 International Business Management 3
Gen Ed SCI [P] 3
         
YEAR 4 SEMESTER 7 (SENIOR)
Prefix Number Title
Major ECON 312 Intermediate Macroecomomics 3
Major Elect ECON 3
Core BEAL 401 Legal & Ethical Issues in Business 3
Major ECON 405 Comparative Economic Systems 3
Free Elect 3
         
YEAR 4 SEMESTER 8 (SENIOR)
Prefix Number Title
Gen Ed SOCSC [S] 3
Major ECON 413 Economics Capstone: Development & Resource Economics 3
Free Elect 3
Capstone BUS 490 Business Administration Capstone 3
Internship ECON 470 Internship 3

*Your progress through the plan and total credit hours 124 will vary depending on your English and Mathematics placement, as well as other factors.

Minor in Economics


Program Purpose

A minor in Economics acquaints students with economics knowledge that will be complementary to business and non-business majors. In a vastly transforming and globalizing world, an Economics minor improves our understanding of economic, political, and social events and the context in which they develop. It also enhances one’s analytical and decision-making competence in the realm of business and even on the personal level.

Program Requirements

Students must complete 6 courses (18 credit hours) for the minor.

Required Core Courses (6 Credit Hours)

The following 2 courses (6 credit hours) are core courses for the Economics Minor:

ECON 200 Principles of Microeconomics (3)
ECON 201 Principles of Macroeconomics (3)

Electives (12 Credit Hours)

In addition, students must choose in consultation with their academic advisor 4 courses from among the following:

ECON 302 Quantitative Methods for Business & Economics (3)
ECON 304 Economics of Labor (3)
ECON 305 International Economics (3)
ECON 310 Intermediate Microeconomics (3)
ECON 312 Intermediate Macroeconomics (3)
ECON 315 Managerial Economics (3)
ECON 351 Money and Banking (3)
ECON 363 Environmental & Resource Economics (3)
ECON 369 Short Course (1-3)
ECON 389 Special Topics (3)
ECON 405 Comparative Economic Systems (3)
ECON 409 Economic Development (3)
ECON 429 Environmental & Energy Policy (3)
ECON 452 Econometrics (3)
ECON 485 Seminar in Economics (3)

Up to 2 non-economic but related courses at the 300-level or above can be taken instead of 2 courses from the above in consultation with the student’s academic advisor and Economics Department Chair.

Faculty


ALJAMAL, Ali, Assistant Professor of Economics; Ph.D., 1999, University of Arizona, Tucson, Arizona, USA.

ABUBAKER, Riyad, Assistant Professor of Economics, Ph.D. 2016, University of California, Riverside, USA.

CADER, Hanas, Associate Professor of Economics; Ph.D., 2006, Kansas State University, Manhattan, Kansas, USA.

 

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