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Welcome to Discipline of Economics.

The courses of Economics under the FAC will enable the students to acquire a certain degree of knowledge in the social sciences. The students will be applying “the economic way of thinking and have a critical perspective of and can analyze economic statements and issues. The students understand and apply core economic concepts such as opportunity cost, the role of the market, the importance of incentives, and the connections between the economic interests of individuals and society.

Objectives

  • To recognize a wide range of perspectives within the discipline, including market, radical, and feminist approaches, and they can explain how these perspectives are reflected in economists’ theoretical models and policy prescriptions.
  • To recognize the importance of innovative work (by economists such as Adam Smith, John Maynard Keynes, etc.) in the historical development of the discipline
  • To describe and give examples of alternative economic systems (market, centrally planned, traditional), and they can explain how economic outcomes are likely to differ under alternative systems.
  • To effectively present their economic reasoning in concise written statements extended research papers, and oral presentations. Economics majors will demonstrate an understanding of the concepts, terminology, and models of microeconomics and macroeconomics

Intended Learning Outcomes:

After completion of the course in Economics, students will be able to

  • apply economic theory and methods to select real world economic problems,
  • develop statistical analysis, data gathering, and data analysis using statistical software related economic models
  • synthesis with conceptual understanding of a wide range of accadamics writings evaluate economic issues making qualitative and quantitative judgement.
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