BAEconEconomics is the social science that analyzes the production, distribution, and consumption of goods and services.

Current economic models developed out of the broader field of political economy in the late 19th century, owing to a desire to use an empirical approach more akin to the physical sciences.

Economics aims to explain how economies work and how economic agents interact. Economic analysis is applied throughout society, in business, finance and government, but also in crime, education, the family, health, law, politics, religion, social institutions, war, and science. The expanding domain of economics in the social sciences has been described as economic imperialism.

Common distinctions are drawn among various dimensions of economics. The primary distinction is between micro level, which examines the behavior of basic elements in the economy, including individual markets and agents such as consumers and firms, buyers and sellers; and macro level, which addresses issues affecting an entire economy, including unemployment, inflation, economic growth, and monetary and fiscal policy. Other distinctions include: between positive and normative economics; between economic theory and applied economics and between rational and behavioral economics.

The major reasons for studying economics includes learning ways of thinking, understanding society, global affairs and to be an informed voter. Economics is also indispensible for understanding on financial studies like interest rates, inflation and government borrowing; the issues affecting our daily life. The benefit of studying economics is deep understanding of overall situations as acting humans, for instance, people often fail to properly account for the cost of their choices. Once understanding over costs is measured in terms of forgone alternatives, it might have a very different view of some common choices. Thus, in-depth knowledge on economics helps make appropriate decisions leading to resource optimizations.

The Department of Economics under the College of Arts and Sciences of IUBAT University offers a degree program in Economics, provide courses in economics under the general education module of other colleges of the university, conducts research and organizes seminars, workshops and training on economic issues facing the society. Educational programs of the Department also receives support from other departments and colleges of the university to realize its objective of developing manpower in the field of economics as well as making contribution to solution of economic problems facing the country. Students and faculty of the Department have access to all facilities of the university including extensive use of IT facilities provided by the Computer Education and Training Centre (CETC) for training and research.

OBJECTIVE

The Department of Economics at the College Arts and Sciences (CAAS) at IUBAT University offers a program leading to the degree of Bachelor of Arts in Economics (BA Econ). The program seeks to prepare a student for a career as professional economist, working in either the public or private sector. Both major corporations and governments hire economists – to provide, for example, governments with rigorous analysis of alternative policies, or provide corporation with analysis of prospects in their respective markets.

The value of economics is to allow one to see the forest as well as the trees when studying how markets work and how government policies influence economic outcomes. Economics helps one to abstract from details and to concentrate on essentials in explaining how markets and governments work. The basic assumption of economics is to interpret markets and governments as institutions in which individuals or groups of individuals are maximizing their own interest, subject to various constraints. At its best, economics helps explain a good deal of human behavior.

Economics can sometimes become very theoretical, and in some universities economics students graduate with little appreciation of the practical problems in business and government. At the Department of Economics, the economics program is closely integrated with other professional programs, such as agriculture, business and computer sciences. The Department of Economics expects students to understand the practical aspects of business as well as economic theory. All students are expected to complete a practicum with a suitable organization.

The medium of instruction at IUBAT University is English. Since IUBAT University places great emphasis on achieving a high level of competence in both written and oral English, the program includes a series of courses on use of the English language. IUBAT University also encourages students to become familiar with the use of computers for written and mathematical work.

PROGRAM OF STUDY

To receive a Bachelor of Arts in Economics, a student must complete successfully at least 125 credit hours study. The student must satisfactorily complete courses as specified by the following requirements. The requirements are divided into four components:

  • A core of theoretical courses in economics and related subjects. All economics students are expected to complete successfully this group of courses.
  • A set of elective economics courses. Students must select and complete at least six of these courses. Students may well choose to complete more than the required minimum number.
  • A set of courses in other Arts and Science departments. These courses assure that students obtain a satisfactory mastery of oral and written English, and of mathematics. These courses also expose students to ideas in physical science and the humanities.
  • A set of courses in other colleges. These courses assure that economics students appreciate the practical problems associated with agriculture and business. They also allow students to develop an understanding of basic computer technology.

PROGRAM FEES

IUBAT University assesses fees for students on credit hour basis. Per credit hour tuition fee for the Bachelor of Arts in Economics (BAEcon) Program is Tk. 1,600 for local students. There is an admission fee of Tk 10,000 paid once at the point of admission to BAEcon Program.  The rate of other charges such as semester fee, other activities fees and refundable library and laboratory deposits in details have been provided in the Financial Information section of this Bulletin. This section also provides information on financing arrangement including merit-scholarships at the point of admission, in-course fee waiver scholarship, different scholarships, on-campus work opportunities, financial assistance in the form of grants, installment payment, deferred payment student loan etc. The standing IUBAT policy to cater to needs of all qualified students who aspire for higher professional education regardless of the income level of his/her family through appropriate educational financing arrangement under the concept Knowledge Based Area Development: A Step Towards Community Self-Reliance applies to BAEcon program.

The Financial Information section also contains information on tuition fees for international students and special fees for students from SAARC countries and Least Developed Countries (LDC) of Asia and Africa.

COURSE ORGANIZATION AND DURATION OF STUDY

Students will usually take 4 courses per semester. Since most courses have a value of 3 credit hours, a student will normally accomplish 12 credit hours per semester toward his or her degree. The minimum requirement for graduation is completion of 125 credit hours. Students usually take 11 semesters to complete, unless a student obtains some course waivers. IUBAT University operates year round, with 3 semesters per year. It is possible, with full-time study, to complete the program in less than 4 years. Most students require, however, 4 years of study before graduation.

If a student can show satisfactory evidence of having mastered the contents of a course, he or she may be excused from that particular course requirement. Such waivers are subject to general IUBAT University academic regulations.

There is no prescribed sequence of courses for students to follow, but students should schedule their courses in consultation with their student adviser. Each course has prerequisites which are specified in the “Course Offerings”. In general, students cannot pursue the upper division (300 or 400 level) economics elective courses until successfully completing the lower division (100 and 200 level) core economics courses, as well as the English and Mathematics sequence. To assist students, in planning course work, a suggested course sequence has been provided after the section on course offerings.

COMPREHENSIVE

The comprehensive is conducted for students who have satisfactorily completed all the courses of the program. The objective of the comprehensive is to test the student’s capability to comprehend the entire program. It consists of a written test of three hours and an oral examination which is conducted by a board consisting of academics and practitioners. The comprehensive is graded and the students must obtain a passing grade to qualify. The students must take comprehensive to fulfill the requirement of the program. The comprehensive is a prerequisite to practicum.

PRACTICUM

IUBAT University and the Department of Economics place great emphasis on the value of practical work experience in all professional degree programs. In the fourth year of study, Department of Economics will place economics students as interns with suitable organizations. The internship is an integral component of the economics program, worth 9 credit hours.

REQUIREMENTS FOR GRADUATION

The BA Econ degree will be conferred only to the student who has fully complied with the graduation requirements and has applied for it. The requirements are that the student has:

  • completed all the prescribed courses with a minimum of 125 credit hours plus such courses recommended by the department after reviewing individual background
  • earned at least “C” grades in each of the required core, electives, major and English courses
  • earned at least passing grade (D) in each of the remaining courses
  • fulfill English language requirement, when relevant
  • earned a Cumulative Grade Point Average (CGPA) of 2.5 and above
  • completed the practicum with at least a passing grade
  • earned at least a passing grade in the comprehensive examination
  • satisfactory behavior and discipline
  • library and financial clearance from the department and the university.

COURSE OFFERINGS


Common Courses
Course Code Course Name Credits
ART 102 Educational Planning 1
ART 202 Career Planning and Development-I 2
ART 203 Career Planning and Development-II 1
CHM 115 OR BIO 201 General Chemistry/ Biology 3
CSC 103 Fundamentals of Computers and Applications 3
CSC 104 Computer Applications Lab 1
ENG 101 Basic English Composition 4
ENG 102 English Comprehension and Speaking 3
ENG 203 Advanced English Composition 3
ENG 250 Public Speaking 3
MAT 107 Mathematics 4
MAT 147 Applied Calculus 3
PHI 114 Introduction to Philosophy 3
PHY 109 General Physics 3
PSY 105 General Psychology 3
SOC 106 Introduction to Sociology 3
HIS 113 Introduction to History 3

Elective Course

Students must complete a minimum of four additional courses totaling 13 credit hours in colleges other than arts and science. Such courses should be selected in consultation with the coordinator of the Department of Economics.


Course Code Course Name Credits
ACC 300 Auditing 2
ACC 303 Taxation 2
AGR 271 Farm Management 2
BUS 101 Introduction to Business 3
BUS 201 Business Communications 3
CSC 151 Visual Basic 3
CSC 152 Visual Basic lab 1
CSC 333 Database Management 3
ENV 201 Introduction to Environmental Science 3
FIN 301 Business Finance 3
MKT 301 Marketing Management 3
SOC 201 Rural Sociology 3


Core Courses
Course Code Course Name Credits
ECO 100 Fundamental Economics Non-credit
ECO 101 Principles of Microeconomics 3
ECO 102 Principles of Macroeconomics 3
ECO 201 Intermediate Microeconomic Theory 3
ECO 202 Intermediate Macroeconomic Theory 3
ECO 203 Economy of Bangladesh 3
ECO 204 History of Economic Development 3
STA 240 Statistics 3
ECO 301 Public Policy and Finance 3
ECO 302 Agricultural Economics 3
ECO 303 International Trade 3
ECO 304 Demography 3
ECO 305 Money and Banking 3
ECO 306 Labor Economics 3
ECO 307 Industrial Organization 3
ECO 340 Introductory Econometrics 3
ECO 401 Economic Regulation and Privatization 3
ECO 402 Economics of Natural Resources and Environmental Protection 3
ECO 403 Economics of Education 3
ECO 404 Health Economics 3
ECO 481 Seminar on Economic Policy 3
ECO 482 Seminar of Social Policy 3
ECO 483 Seminar on Economic Theory 3
ECO 490 Practicum 9
ECO 496 Comprehensive

SUGGESTED COURSE SEQUENCE


Semester 1
Course Code Course Name Credits
ART 102 Educational Planning 1
ENG 101 Basic English Composition 4
MAT 107 Mathematics 3
CSC 103 Fundamentals of Computer and Applications 3
CSC 104 Computer and Applications Lab 1
Total 13


Semester 2
Course Code Course Name Credits
ENG 102 English Comprehension and Speaking 3
ECO 101 Principles of Micro Economics 3
CHM 115 General Chemistry 3
MAT 147 Applied Calculus 3
Total 12


Semester 3
Course Code Course Name Credits
PHI 114 Introduction to Philosophy 3
ECO 102 Principles of Macroeconomics 3
PHY 109 General Physics 3
ENG 203 Advanced English Composition 3
Total 12


Semester 4
Course Code Course Name Credits
ENG 250 Public Speaking 3
ECO 201 Intermediate Microeconomic Theory 3
EEN 183 Circuit Analysis I 3
PSY 105 General Psychology 3
STA 240 Statistics 3
ECO 202 Intermediate Macro-economic Theory 3
Total 15


Semester 5
Course Code Course Name Credits
ECO 203 Economy of Bangladesh 3
ECO 204 History of Economic Development 3
ART 202 Career Planning and Development-I 1
ECO 301 Public Policy and Finance 3
Elective 3
Total 13


Semester 6
Course Code Course Name Credits
ECO 302 Agriculture Economics 3
ECO 303 International Trade 3
ECO 304 Demography 3
ECO 305 Money and Banking 3
Elective 4
Total 16


Semester 7
Course Code Course Name Credits
ECO 306 Labor Economics 3
ECO 340 Introductory Economics 3
ECO 481 Seminar on Economic Policy 3
Total 9


Semester 8
Course Code Course Name Credits
ECO 307 Industrial Organization 3
ECO 482 Seminar on Social Policy 3
Elective 3
Total 9


Semester 9
Course Code Course Name Credits
ECO 483 Seminar on Economic Theory 3
ECO 401 Economic Regulation and Privatization 3
ECO 403 Economics of Education 3
Total 9


Semester 10
Course Code Course Name Credits
ECO 402 Economics of Natural Resources and Environmental Protection 3
ART 203 Career Planning and Development-II 1
ECO 404 Health Economics 3
Elective 3
Total 10


Semester 11
Course Code Course Name Credits
ECO 490 Practicum 9
Total 9

Explanations

ENG 101 and MAT 107 are available for exemption on the basis of competency. CSC 101 and CSC 104 may qualify for exemption on the basis of competency.

In the light above background of an applicant and his/her competence, the course requirements for the concerned student in the BA Econ program will be customized.

DESCRIPTION OF COURSES

Description of required and elective courses in Economics and courses in arts and sciences are given below, while the descriptions of courses in other colleges have been given under respective colleges.

ECO 101 PRINCIPLES OF MICROECONOMICS [3]

P: completion of ENG 101 and MAT 107; or approval of Departmental Adviser. An introduction to the theory of individual rational choice and operation of markets. Includes theory of consumer choice, factor choice by firms, and cost analysis. Includes also theory of competitive and monopoly markets, and intermediate market forms. Includes introduction to theory of interest groups (e.g. unions) and role of government in regulation of economic activity.

ECO 102 PRINCIPLES OF MACROECONOMICS [3]

P: completion of ENG 101 and MAT 107; or approval of Departmental Adviser. An introduction to theories of aggregate economic behavior. Discusses national income accounting and public accounts. Includes theories of aggregate demand, money and banking, international trade, and economic development.

ECO 201 INTERMEDIATE MICROECONOMIC THEORY [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory principles courses (ECO 101, ECO 102) and two mathematics courses (MAT 107, MAT 147); or approval of Departmental Adviser. Provides a more advanced and comprehensive treatment of the theory of rational choice by consumers and firms, and of the operation of markets. Introduction theory of games and market failures.

ECO 202 INTERMEDIATE MACROECONOMIC THEORY [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory principles courses (ECO 101, ECO 102) and two mathematics courses (MAT 107, MAT 147); or approval of Departmental Adviser.  Provides a more advanced and comprehensive treatment of theories of aggregate economic behavior. Includes introduction to construction of macroeconomic models and national income forecasting.

ECO 301 PUBLIC POLICY AND FINANCE [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate microeconomic  and macroeconomic courses (ECO 101, ECO 102, ECO 201, ECO 202); or approval of  Departmental Adviser.  Provides an introduction to the theory of taxation, market failures, and economic analysis of public choice. Includes an introduction to cost-benefit analysis.

ECO 340 INTRODUCTORY ECONOMETRICS [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory principles courses (ECO 101, ECO 102), two mathematics courses (MAT 107, MAT 147) and one statistics course (STA 240); or approval of Departmental Adviser. Introduces basic econometric theory. Develops and applies econometric tools such as multivariate regression analysis and forecasting. Students will be required to collect data and apply statistical techniques to draw inferences.

ECO 203 ECONOMY OF BANGLADESH [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory principles courses (ECO 101, ECO 102) and MAT 107;; or approval of Departmental Adviser.   includes analysis of structure of the economy demography, sectoral composition, distribution of income, social policy. Reviews recent economic development of Bangladesh since liberation, and discusses strategies for future development.

ECO 204 HISTORY OF ECONOMIC DEVELOPMENT [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory principles courses (ECO 101, ECO 102) and MAT 107; or approval of Departmental Adviser.  Provides a survey of major events in the history of economic development of western industrial economics, former communist economies and developing economies. In discussing developing economies, emphasis will be on South Asia.

ECO 302 AGRICULTURAL ECONOMICS [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, MAT 147); or approval of Departmental Adviser.   Provides an analysis of agricultural markets, both domestic markets within Bangladesh and international agricultural markets. Surveys major policy issues pertaining to agriculture: enhancing productivity and protection from natural disaster, land tenure, rural credit, trade agreements.

ECO 303 INTERNATIONAL TRADE [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, MAT 147); or approval of Departmental Adviser.   Analysis classical and modern theories of international trade, including ideas of comparative advantage, protection, arguments for and against free trade and customs unions. Includes institutional discussion of trade agreements such as GATYT, WTO, SAFTA, NATTA, EU, ASEAN.

ECO 304 DEMOGRAPHY [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, MAT 247); or approval of Departmental Adviser.   Introduces basic demographic measures and theories of population growth. Analyzes manpower availability, role of men and women in labor force, and population policy issues. Emphasis will be given to case studies relevant to Bangladesh.

ECO 305 MONEY AND BANKING [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, MAT 147); or approval of Departmental Adviser.  Includes theories of supply of and demand for money, and theory of central banking. Analyzes banking practice in Bangladesh and major industrial countries. Includes analysis of international financial arrangements, and informal and rural credit provision.

ECO 306 LABOUR ECONOMICS [3]

P: completion English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, MAT 147); or approval of  Departmental Adviser.  Analyzes labor markets and industrial relations in Bangladesh. Includes treatment of public and private sector employment, employment in formal and informal sectors, role of women in labor markets.

ECO 307 INDUSTRIAL ORGANIZATION [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, MAT 147); or approval of Departmental Adviser.  Examination the structure, conduct and performance of specific industries, emphasizing the extent of competitive behavior and barriers to it. Includes discussion of state-owned and private firms, formal and informal economic activity.

ECO 401 ECONOMIC REGULATION AND PRIVATIZATION [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, MAT 147);  or approval of Departmental Adviser.   Analyzes the theory and practice of control of monopoly and maintenance of competition, efficient regulation of natural monopolies and state-owned enterprises. Discusses in addition the theory of creating markets in formerly state-dominated markets. Includes cases drawn from western industrial countries, former communist countries, and developing countries including Bangladesh.

ECO 402 ECONOMICS OF NATURAL RESOURCE AND ENVIRONMENTAL PROTECTION [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, MAT 147); or approval of Departmental Adviser.   Applies economic analysis to problems of optimum management of natural resource systems. Cases analyzed will be drawn primarily from Bangladesh; urban air and water pollution. Industrial pollution, maintenance of stocks in inland and marine fishery, deforestation, land erosion and flood control.

ECO 403 ECONOMICS OF EDUCATION [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, EC 202, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, MAT 147); or approval of Departmental Adviser.  Introduces theory of “human capital” formation. Applies economic analysis to problems of education, particularly within developing countries such as Bangladesh. Applies economic analysis to problems of education administration in developing countries.

ECO 404 HEALTH ECONOMICS [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, Mat 147);  or approval of Departmental Adviser.   Analyzes the m Departmental Adviser.  market for health service, discussing both “market failures” and “political failures”. Applies economic analysis to problems of organizing health services, with particular attention to developing countries.

ECO 481 SEMINAR ON ECONOMIC POLICY [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, MAT 147); or approval of Departmental Adviser.  A senior seminar on selected topics of economic policy. Topics will vary.

ECO 482 SEMINAR ON SOCIAL POLICY [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, MAT 147); or approval of Departmental Adviser.  A senior seminar on selected topics of social policy. Topics will vary across a broadly defined set of social polices – including health, education and  other policies intended to correct market failures and redistributes income.

ECO 483 SEMINAR ON ECONOMIC THEORY [3]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 107, MAT 147); or approval of Departmental Adviser.  A senior seminar on selected topics of economic theory. Topics will vary.

ECO 490 PRACTICUM [9]

P: completion of English sequence (ENG 101, ENG 102, ENG 203), introductory and intermediate principles courses (ECO 101, ECO 102, ECO 201, ECO 202, ECO 301) and two mathematics courses (MAT 1097, MAT 147); or approval of Departmental Adviser. Students are expected to complete an internship in their third or fourth year with a suitable public or private sector organization. The internship will entail on-the-job training and preparation of an internship report assessing the experience. The report is examined and graded. There is an oral examination.