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.

Bachelor of Business Administration in Economics


Learning Outcomes:

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

  • Professionally present an interpretation and analysis of economic data and markets.
  • Demonstrate understanding of basic technical skills when organizing and analyzing statistical data and presenting visual information.
  • Critically assess the economic impact of shocks to a market by utilizing the skills learned in microeconomics and macroeconomics. These include being able to determine the impact of changes in variables on economies, identify correlative factors within a market, and distinguish empirical statistical data findings from normative results.
  • Understand analytical concepts such as comparative advantage and exchange to identify efficient market resource allocation as well as acquire the ability to determine the opportunity cost of alternatives and to compare static data analyses.

Admission To The Program

Students must formally declare their interest in taking the BBA in Economics by the end of their sophomore year or second year of full-time coursework (60 credit hours). Students are required to have: a cumulative GPA of at least 2.0, a grade of “C” or better in MATH 103 or MATH 110, and a grade of “C” or better in STAT 201. These are prerequisites for many ECON courses. Furthermore, to lay sound foundations for upper level courses, students are strongly advised to achieve a minimum of a “B” grade in both ECON 200 and ECON 201.

University Degree Requirements (124 Credit Hours)

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

General Education Requirements (49)
Core Courses (25)
Major Courses (12)
Major Electives (12)
Internship (3)
Free Electives (23)
   

BBA Economics Core Courses (25 Credit Hours)

Students majoring in Economics must take the following 8 courses (25 credit hours):

ACCT 201 Principles of Financial Accounting (4)
ECON 200 Principles of Microeconomics (3)
ECON 201 Principles of Macroeconomics (3)
ECON 209 Math & Stat for Econ & Business (3)
FINC 332 Financial Management (3)
MGMT 201 Principles of Management (3)
MGMT 304 Business Relationship Management (3)
MRKT 200 Principles of Marketing (3)

BBA Economics Major Courses (12 Credit Hours)

Students must complete 4 of the following courses:

ECON 300 Intermediate Microeconomics (3)
ECON 301 Intermediate Macroeconomics (3)
ECON 351 Money and Banking (3)
ECON 363 Environmental & Resource Economics (3)

BBA Economics Major Electives (12 Credit Hours)

Students are required to complete 4 courses from among the following, 2 of which must be at the 400-level:

ECON 304 Economics of Labor (3)
ECON 305 International Economics (3)
ECON 315 Managerial Economics (3)
ECON 369 Short Course (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)

Internship


Internship (470/473)

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. Students are limited to a maximum of 6 credit hours of internship. A maximum of 3 credit hours (taken in increments of 1, 2, or 3 credit hours) may be applied toward any one major. If a student takes an additional 1-3 credit hours of internship, those credits may be counted towards a student’s second major, minor, or as free electives. 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.

Free Electives


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 Admninistration (ECON) 2015-2016 4 Year Plan*


YEAR 1 SEMESTER 1 (FRESHMAN)
Prefix Number Title
Gen Ed ENGL 100 Foundations of Academic Reading and Writing 4
Gen Ed UNIV 100 Essentials of Learning 3
Gen Ed ARAB [A] 3
Gen Ed HUM [H] 3
Free Elective MATH 100 College Algebra 3
         
YEAR 1 SEMESTER 2 (FRESHMAN)
Prefix Number Title
Gen Ed ENGL 101 Approaches to Critical Reading and Writing 3
Gen Ed MATH 110 Pre-Calculus 3
Gen Ed ARAB [K] Arabic Culture 3
Gen Ed HUM [H] 3
Gen Ed CSIS [T] 3
         
YEAR 2 SEMESTER 3 (SOPHOMORE)
Prefix Number Title
Gen Ed ENGL 102 Writing and Information Literacy 3
Gen Ed STAT 201 Statistics 3
Core ECON 200 Principles of Microeconomics 3
Core ACCT 201 Principles of Financial Accounting 4
Core MGMT 201 Principles of Management 3
         
YEAR 2 SEMESTER 4 (SOPHOMORE)
Prefix Number Title
Gen Ed UNIV 110 University, Community, and Citizenship 3
Gen Ed SOCSC [S] 3
Core ECON 201 Principles of Macroeconomics 3
Core ECON 209 Math & Stat for Econ & Business 3
Core MRKT 200 Principles of Marketing 3
         
YEAR 3 SEMESTER 5 (JUNIOR)
Prefix Number Title
Gen Ed SCI [P] 3
Core MGMT 304 Business Relationship Management 3
Core FINC 332 Financial Management 3
Major ECON 300 Intermediate Microeconomics 3
Major ECON 363 Environmental & Resource Economics 3
         
YEAR 3 SEMESTER 6 (JUNIOR)
Prefix Number Title
Gen Ed SCI [P] 4
Major ECON 301 Intermediate Macroeconomics 3
Major ECON 351 Money and Banking 3
Free Elect 3
Free Elective 3
Free Elective 2
         
YEAR 4 SEMESTER 7 (SENIOR)
Prefix Number Title
Major Elect ECON 3
Major Elect ECON 3
Internship ECON 470 Internship 3
Free Elect 3
Free Elect 3
         
YEAR 4 SEMESTER 8 (SENIOR)
Prefix Number Title
Gen Ed SOCSC [S] 3
Major Elect ECON 3
Major Elect ECON 3
Free Elect 3
Free Elect 3

* *Your progress through the plan 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 209 Math & Stat for Economics & Business (3)
ECON 300 Intermediate Microeconomics (3)
ECON 301 Intermediate Macroeconomics (3)
ECON 304 Economics of Labor (3)
ECON 305 International Economics (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, Department Chair, Assistant Professor of Economics; Ph.D., 1999, University of Arizona, Tucson, Arizona, USA.

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

WANG, Jin, Dean of the College of Business and Economics, Professor of Economics; Ph.D., 1989, Kansas State University, Kansas, USA.

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