BS in Economics

Program Structure:

Title	Number of Courses	Number of Credits
Required GED Courses	8	27 Credits
Optional GED Courses	2	6 Credits
Core Courses	19	57 Credits
Open Elective Courses	9	27 Credits
Guided Research/Internship	1	3 Credits
Total	39	120 Credits

BS in Economics

120 Credit Hours

LIST OF COURSES

REQUIRED GED COURSES (27 Credits)
Course Title	Prerequisite
URC 1101: Life Skill for Success	None
CST 1206: Computer Applications	None
ECO 1303: Mathematics for Business and Economics I	None
ECO 1334: Statistics for Business and Economics I	ECO 1303
BUS 2112: Business Communications	ENG 1207
ENG 1105: Intensive English – I    ENG 1207: Intensive English -II	None
	ENG 1105
ECO 3226: Bangladesh Studies	ENG 1207

OPTIONAL GED COURSES (6 CREDITS)
Course Title	Prerequisite
ACN 1205: Financial Accounting I	None
ACN 1309: Financial Accounting II	ACN 1205
MAT 1300: Basic Mathematics	None
ECN 3230: Economic Geography	ECO 1301
ENV 3227: Fundamentals of Natural Science	ECO 1303
ENV 2308: Ecological System and Environment	ENG 1207
FIN 2319: Principles of Finance	ECO 1334, ACN 1205
HRM 4357: Industrial Psychology	PSY 2217
ITR 2311: International Relations	ENG 1207
MGT 1307: Principles of Management	ENG 1207
MKT 2320: Introduction to Marketing	ECO 1301
PAM 1301: Introduction to Public Administration	ENG 1207
PSY 2217: Introduction to Psychology	ENG 1105
SOC 1310: Introduction to Sociology	ENG 1105
SOC 2306: Eastern Culture and Heritage	SOC 1310

ECONOMICS CORE COURSES (57 CREDITS)
Course Title	Prerequisite
ECO 2303: Mathematics for Business and Economics II	ECO 1303
ECO 1301: Introduction to Microeconomics	None
ECO 1302: Introduction to Macroeconomics	ECO 1301
ECO 1374: Statistics for Business and Economics II	ECO 1334
ECO 2304: Intermediate Microeconomics	ECO 1301
ECO 2305: Intermediate Macroeconomics	ECO 1302
ECO 2365: Environmental Economics	ECO 2304ECO 1334
ECO 3301: Intermediate Microeconomics II	ECO 2303, ECO 2304
ECO 3302: Intermediate Macroeconomics II	ECO 2303, ECO 2305
ECO 3310: Money and Banking	ECO 2305
ECO 3311: Public Finance	ECO 2304
ECO 3326: International Trade	ECO 2304ECO 2305
ECO 3327: International Finance	ECO 2305
ECO 3350: Development Economics	ECO 2303, ECO 2304,ECO 2305
ECO 3361: Health Economics	ECO 2304
ECO 3370: Econometrics I	ECO 1374
ECO 3371: Econometrics II	ECO 3370
ECO 4350: Labor Economics	ECO 1301, ECO 1302
ECO 4390: Research Methodology	ECO 1374, ECO 3371

C. Open Elective Courses (27 Credits)1. At least 12 credits must be ECO Courses2. Courses in this category cannot be below 3000 levels3. Students have to take 15 credits from Specialized Area for claiming major in that area.4. Students can also complete 27 credits without a specialization area of study.

C1. GENERAL ECO COURSES
Course Title	Prerequisite
ECO 3340: Economics and Psychology	ECO 2304ECO 2305
ECO 3341: Economics and e-commerce	ECO 2304
ECO 4155: Current Issues in Bangladeshi Economic Policy	ECO 2304ECO 2305
ECO 4328: Globalization and History	ECO 2305
ECO 4349: Economics of Information and Uncertainty	ECO 2304
ECO 4375: History of Economic Thought	ECO 1301, ECO 1302
ECO 4380: Urban Economics	ECO 1301, ECO 1302
ECO 4386: Energy Economics and Policy	ECO 3301
ECO 4351: Industrial Organization	ECO 2304
ECO 4392: Law and Economics	ECO 2304

C2 (A) – SPECIALIZATION AREA 1:  QUANTITATIVE ECONOMICS
Course Title	Prerequisite
ECO 3337: Real Analysis	ECO 2303
ECO 3339: Mathematical Statistics	ECO 3337
ECO 4123: Dynamic Optimization and Economic Applications	ECO 3302
ECO 4353: Game Theory and Applications	ECO 3301
ECO 3331: Economics of Cost Benefit Analysis	ECO 2304
ECO 4371: Time Series, Panel and Micro econometrics	ECO 3371
ECO 3330: Network Economics	ECO 2303, ECO 1374

C2 (B) -SPECIALIZATION AREA 2: INTERNATIONAL ECONOMICS AND DEVELOPMENT
Course Title	Prerequisite
ECO 3349: Issues in International Economics	ECO 3326
ECO 3353: Economic Development in South Asia	ECO 1301, ECO 1302
ECO 4320: International Trade Theory	ECO 3326
ECO 4329: Trade Policy Analysis	ECO 2305ECO 3326
ECO 4319: Economics of Financial Crisis	ECO 3327
ECO 4344: Advanced Topics in Development                  Economics	ECO 3350,ECO 3371
ECO 4348: Political Economy of Underdevelopment	ECO 3350

C2 (C)- SPECIALIZATION AREA 3: BUSINESS ECONOMICS
Course Title	Prerequisite
FIN 3123: Managerial Finance	FIN 2319, ECO 1301, ACN 1309
FIN  4219: Security Analysis and Portfolio Management	FIN 3123
FIN 3337: Principles of Banking and Insurance	ECO 1302
FIN 4321: Financial Markets and Institutions
IBS 3121: International Business	ECO 1302
MGT 3224: Production and Operations Management	ECO 1303, ECO 1334
MGT 3341: Project Management	MGT 3224
MGT 3229: Entrepreneurship and Business Plan Development	ECO 1302, MGT 1307
MKT 4102: Services Marketing
MKT 4309: Global Marketing

C2 (D) -SPECIALIZATION AREA 4: RESOURCE AND ENVIRONMENT
Course Title	Prerequisite
ECO 4386: Energy Economics and Policy	ECO 3301
ECO 3335: Natural Resource Economics	ECO 2304
ECO 4387: Applied Econometrics	ECO 3371
ECO 3383: Economic Valuation of the Environment and Policy Analysis	ECO 2303,ECO 2365
ECO 4388: Economics of Climate Change	ECO 2365,ECO 3335

C2 (E) -SPECIALIZATION AREA 5: FINANCIAL ECONOMICS
ECO 3351: Financial Economics	ECO 2304, ECO 2305, FIN 2319
ECO 4379: Financial Econometrics	ECO 3371
FIN 4117: Corporate Finance	ECO 3301, ECO 1374, FIN 3123
ECO 4346: Behavioral Finance	ECO 3351
ECO 4356: Economics of Investment & Financial Management	ECO 3351,ECO 3327
ECO 4357: Financial Risk Analysis	ECO 3351, ECO 4349
FIN 4219: Security Analysis and Portfolio Management	ECO 2304, ECO 3327, FIN 3123
ECO 4358: Risk Modelling and Financial Trading Strategies	ECO 3351, ECO 4349
ECO 4359: Financial Institutions and Regulations	ECO 3351,ECO 3327
Any other courses added in this area

Guided Research/Internship(3 CREDITS)
Course Title	Prerequisite
ECO 4394: Guided Research / Internship	All core courses

COURSE DESCRIPTION

[BS IN ECONOMICS PROGRAM]

MAT 1300

Basic Mathematics

Study of basic mathematical concepts and tools such as functions, limits and continuity, technique of differentiation, maxima and minima of functions.Point of inflection, function of two or more variables.System of Linear equations and Matrices.Permutation and Combination, Binomial Theorem.

Required Text:

• Philip A. Schmidt, Frank Ayres.  Schaum’s Outline of Theory and Problems of College Mathematics, McGraw-Hill Professional, 2003
• A. C. Chiang. Fundamental Methods of Mathematical Economics, McGraw-Hill, London: 1984.
• College Mathematics for Business, Economics, Life Sciences and Social Sciences   

            (English) (ISBN: 9780131572256) Prentice Hall

ECO  1301

INTRODUCTION TO MICROECONOMICS

ECN 101 provides an introduction to the basic nature of economics at the level of individual economic agents; primarily consumers and business firms.  Topics covered include the analysis of supply and demand and market equilibria; household decisions regarding demands for consumption goods and services and supplies of labor; and business decisions regarding supply of outputs and demand for factor inputs such as labor and capital.

Particular emphasis is placed on the role of prices and markets in allocating resources, economic relationship between costs and productivity, alternative market structures such as perfect competition, monopoly and various models of imperfect competition, the theory of labor market and income distribution, and the economics of information.

Required Text:

• Edward K Browning and Mark Zupan. Microeconomic Theory and Applications.  John Wiley & Sons, 2002.
• N. Gregory Mankiw.  Essentials of Economics,  (Third Edition), Thomson- South-Western,  2004.

ECO 1302

INTRODUCTION TO MACROECONOMICS

ECN 102 intends to acquaint the students with the basic concepts of macroeconomic theory and to provide them with an understanding of how the overall economy works and what the likely consequences of various macro policies are.  Topics covered include definition and measurement of macro aggregates such as national output, unemployment, inflation, consumption, investment, export, import, balance of payments, national budget etc., identification of their determinants, and interrelationship amongst them.  Macroeconomics also examines how public policies impact upon the macro aggregates.

The working of the overall economy is examined both in the context of short-run and long-run.  Thus a good part of the course is devoted to the study of short-run fluctuations in macro aggregates and how macro policies can stabilize the economy against adverse swings in these aggregates.  An equally important issue discussed in macroeconomics is the determinant of long-run economic growth and the role of public policy in steering the economy through such a growth path.  In both these time frames, the analysis incorporates the role of the external sector and links with the international economy in influencing both stability and growth of individual economies.

Required Text:

• N. Gregory Mankiw.  Macroeconomics,  Worth Publisher, 2007
• Campbell R. McConnel and Stanley L. Brue, Macroeconomics: Principles, Problems, and Policies ,(15^th edition), McGraw-Hill, 2000.

ECO  1303

MATHEMATICS FOR BUSINESS AND ECONOMICS – I

Study of how to apply matrices ,Jacobian determinants, partial derivatives, optimization both with and without constraints for explaining microeconomic and macroeconomic theories in static context.  Topics include theory of consumer behavior, theory of production, general equilibrium in goods and factor markets, national income equilibrium, and analysis of international trade issues.  Topics such as comparative analysis, linear programming, and duality are also introduced.

Required Text:

• A. C. Chiang. Fundamental Methods of Mathematical Economics, McGraw-Hill, London: 1984.
• T. Yamane.  Mathematics for Economists: An Elementary Survey, Prentice Hall, New Delhi: 1973

ECO 1334

STATISTICS FOR BUSINESS AND ECONOMICS I

Topics include introduction to statistics; collection, processing and presentation of statistical data; measures of central tendency; measures of dispersion; graphical methods; elementary probability theories; discrete & continuous random variables; normal distribution, central limit theorem; index numbers; simple correlation and regression analysis; sampling distribution; components of time series.

Required Text:

• Wonnacott and Wonnacott.  Introductory Statistics, Wiley and Sons, New York: 1985
• Harnett and Murphy.  Introductory Statistical Analysis. Addison-Wesley, 1971
• T. Yamane.  Statistics: An Introductory Analysis, Harper and Row, 1967

ECO 1374

STATISTICS FOR BUSINESS AND ECONOMICS II

The course covers further topics in descriptive statistics; probability theory and application; Baye’s theorem; bivariate probability; statistical inference; tests of hypotheses; analysis of variance; simple liner regression and correlation; multiple linear regression; testing the goodness of fit; decision theory; application of permutations & combination in probability; discrete probability distribution: binomial &poisson distribution, interval estimation, survey sampling method, one-way & two-way anova, time series techniques: moving average, weighted moving average, seasonally adjusted moving average, simple exponential smoothing, autoregressive models, etc.

Required Text:

• Mendenhall. Introduction to Probability and Statistics, Duxbury Press, Boston: 1993
• Mason and Lind R. D. Mason.  Statistical Techniques in Business and Economics, Irwin, Boston : 1972
• Mills.  Statistics for Applied Economics and Business, McGraw-Hill, NY: 1977

ECO 2304

INTERMEDIATE MICROECONOMICS

This is a follow-up course to ECN 101.  Topics include analysis of consumption theory with the use of indifference curve that also extends to cover intertemporal consumption and costs of information.  On production side, topics covered are the theory of production and cost, the birth of the firm, different types of markets in terms of structures and behavior, and introductory game theory.  Price determination in factor markets, general equilibrium analysis, introductory welfare economics and market failures are also covered.

Required Text:

• A. Koutsoyiannis.  Modern Microeconomics,  Macmillan Press Ltd., 1979
• W. J. L. Ryan and D. W. Pearce.  Price Theory,
• H. Varian.  Microeconomic Theory

ECO  2305

INTERMEDIATE MACROECONOMICS

This is a follow-up course to ECN 102.  Topics covered are: determination of equilibrium in product market, money market, and foreign exchange market with the use of IS-LM-BP model, as well as changes in equilibrium.  It also studies interaction of product market and labor market, the model of aggregate demand and aggregate supply in closed and open economies.  Other topics covered are inflation, unemployment, the Phillips curce, stabilization policies, growth theory, New Keynesian economics and the real business cycle theory.  Application of macroeconomic theory to analyze economic situations are also included.

Required Text:

• R. Dornbusch, S. Fisher, and S. Richard.  Macroeconomics, McGraw-Hill, 2000
• William H. Branson. Macroeconomic Theory and Policy, Harper & Row, 1989.

ECO 2303

MATHEMATICS FOR BUSINESS AND ECONOMICS – II

Application of mathematical tools such as integrals, calculus, differential equation and difference equations for explaining dynamic economic phenomena as well as locating time path and stability of variables in the context of both microeconomics and macroeconomics.  A study of dynamic input-output models is also covered.

Required Text:

• A. C. Chiang. Fundamental Methods of Mathematical Economics, McGraw-Hill, London: 1984.
• T. Yamane.  Mathematics for Economists: An Elementary Survey, Prentice Hall, New Delhi: 1973
• Edward T. Doeling.  Introduction to Mathematical Economics, McGraw-Hill, London: 1992.

ECO 2365

ENVIRONMENTAL ECONOMICS

The course aims at exploring and examining human relationship between with environment in developing countries with special emphasis on Bangladesh.  Topics covered include surveys of the economic, cultural, social and political aspects of human population dynamics, food resources and hunger, mineral and energy resources, land and water pollution, wilderness and wildlife resources, urban and rural land usage, and toxic waste management from environmental and conservation view points.  The course evaluates government policies on above issues.  It also makes recommendations and probes possible solutions to contemporary resource and environmental problems of Bangladesh.

Required Text:

• Keohane and Olmstead, Markets and the Environment (Island Press, 2007)

• Matthew Kahn, Fundamentals of Environmental Economics: Solving Urban Pollution Problems
• Charles Kolstad, Environmental Economics (Oxford University Press, 1st edition 2000, or 2nd edition 2010)
• The RFF Reader in Environmental and Resource Policy (Wallace Oates Editor, 2nd edition 2006, RFF Press)

ECO 3301

INTERMEDIATE MICROECONOMICS II

This is a follow-up course of ECN 201.  It is a study microeconomic theory with an emphasis on utilizing mathematical tools to analyze various economic issues, such as consumer behavior, revealed preferences, intertemporal consumption, consumption and risk, and theory of production and cost.  Topics covered also include market structures and behavior, game theory, factor markets, general equilibrium and welfare economics, and impacts of externalities and public goods, and asymmetric information on level of welfare.

Required Text:

• J. M. Henderson, R. E. Quandt.  Microeconomic Theory: A Mathematical Approach, McGraw-Hill Kogakusha Ltd, 1971
• W. Breit,  Harold M. Hochman(ed). Readings in Microeconomics,  Dryden Press, 1971

ECO 3302

INTERMEDIATE MACROECONOMICS II

This is a follow-up course to ECN 202(Intermediate Macroeconomic Theory I).  The purpose of the course is to deepen the understanding of the students with respect to the working of the macro economy and its interface with macro policy.

The course begins with a brief review of the basic macroeconomic concepts and the Aggregate Demand-Supply model.  The core material is divided into three components: (a) Inter temporal economics, (b) Monetary economics, and (c) Output determination, stabilization and growth.  Consumption, savings and investment theories are discussed in detail under the first component.  Monetary economics deals mainly with the demand for money, and the interrelationship of money, exchange rate and prices.  The last component presents an advanced exposition of output determination model in the IS-LM framework, and also covers stabilization issues relating to link between inflation and unemployment, business cycle theories and theories of growth.

Required Text:

• Jeffrey D Sachs and Felipe Larrian B. Macroeconomics in the Global Economy

            Prentice Hall, 1993

• William J. Branson Macroeconomic Theory and Policy, Hraper& Row, 1989

ECO 3310

MONEY AND BANKING

The course is an introduction to the monetary system.  Topics include understanding money, macroeconomic role of money, the role of the banking system in the functioning of monetary policy, principles of managing commercial banks, efficient loan portfolio management, the theory, functions and role of the central bank.

Required Text:

• Frederic S. Mishkin.  The Economics of Money, Banking, and Financial Markets, HarperCollinsCollege Publications, 1995
• Miller, R. L. and Pulsinelli, R. W. Modern Money and Banking, McGraw-Hill, Singapore, 1985
• David R. Kamerschen.  Money and Banking, South-Western Pub. Co., 1992

ECO 3311

PUBLIC FINANCE

The course introduces the basic principles of taxation from an economic rather than an accounting perspective.  The themes of the course are the incidence and efficiency of taxes – who ends up paying a tax and how people change their behavior to avoid a tax.

Required Text:

• Gruber, Jonathan. Public Finance and Public Policy. 3rd ed. Worth Publishers, 2009.
• Harvey S. Rosen. Public Finance (seventh ed.) , McGraw-Hill, 200
• Joseph E. Stigtlitz. Economics of the Public Sector (third ed.), W. W. Norton & Company, 2000.

ECO 3326

INTERNATIONAL TRADE

Description: This course will analyze the causes and consequences of international trade and investment. We will investigate why nations trade, what they trade, and who gains (or not) from this trade. We will then analyze the motives for countries or organizations to restrict or regulate international trade and study the effects of such policies on economic welfare. Topics covered will include the effects of trade on economic growth and wage inequality, multinationals and foreign direct investment, international trade agreements and current trade policy disputes.

Text:

Krugman, Paul, Maurice Obstfeld, and Marc Melitz. International Economics: Theory and Policy. 10th  ed. Pearson 2014. 

ECO 3327

INTERNATIONAL FINANCE

This course focuses on international financial management and international trade. Topics in financial management, viewed primarily from the perspective of managers doing business overseas, include the management of foreign exchange exposure, foreign direct investment decisions, and multinational capital budgeting. Other topics covered include trends in international banking, the balance of payments, the determination of exchange rates, the LDC debt crisis, and the Asian meltdown. We will also examine the challenges and problems faced by firms planning on doing business in Western Europe, Eastern Europe, the Far East, Mexico, Canada, South America, Africa, India, and other regions during the next decade.

Text:

Madura, International Financial Management 12th Ed. Thomson/Southwest, 2014.

ECO 3350 

DEVELOPMENT ECONOMICS

This course is designed to give the students a broad exposure to the dynamics of the process of growth and development and the problems and issues it generates.  Topics include meaning and indicators of economic development, basic correlates of the growth process that include poverty and income distribution, sustainable development, foreign aid dependence, agricultural transformation and rural development, international trade and the new international economic order, structural adjustment policies, political economy of good governance, etc.

Required Text:

• Michael P. Todaro.  Economic Development in the Third World, Longman Publishing Group, 1981
• Gerald M. Meier.  Leading Issues in Economic Development,OxfordUniversity Press, 2005

ECO 3353

ECONOMIC DEVELOPMENT IN SOUTH ASIA South Asia has performed well over the past 25 years in reducing poverty, improving human development and increasing growth, but faster progress with poverty reduction will require a higher rate of growth. This course shows that the development performance is not a puzzle but largely explained by good policies. Countries in the region have maintained good macroeconomic environments, opened up their economies to greater domestic and international competition, and reduced the role of corrupt and inefficient public enterprises. Required Text: MoazzemHossain.  South Asian Economic Development: Transformation, Opportunities and Challenges (Routledge Siena Studies in Political Economy) (Paperback)

ECO 3361

HEALTH ECONOMICS

Health economics applies the tools of economics to the issues of the organization, delivery, and financing of health care.  The objectives of the course are to (1) develop an understanding of the relevance of economic concepts to the health care sector,  (2)  to describe the system of health care financing and delivery arrangements in the health care sector, and (3) to impart an understanding of the role of economic factors in the development of public policy concerning health and health care.

Required Text:

• Ceri Phillips. Health Economics: An Introduction for Health Professionals, Blackwell Publishing, 2005.
• Charles E. Phelps.  Health Economics, Addison Wesley, 2003.
• Peter Zweifel, Friedrich Breyer, Matthias Kifmann.  Health Economics, Springer, 2007.
• Folland, S. A. C. Goodman and MironStano.  The Economics of Health Care, Prentice Hall, 1993.
• Drummond, M. F. et. al. Method for the Economic Evaluation of Health Care Programs, OxfordUniversity Press, 1987.  

ECO 3370

ECONOMETRICS I

This course introduces the statistical tool known as regression analysis applied to cross-sectional data. It begins with the use and properties of the classical linear regression model and then discusses how various technical problems should be handled. Topics covered include: the nature of regression analysis, basic ideas and estimation problem of two-variable regression model, classical normal linear regression model, interval estimation and hypothesis testing, extensions of two-variable linear regression model, the problems of estimation and inference associated with multiple regression model and dummy variable regression models. Examples of simpleapplications in economics are used throughout. Students use Stata to fit various regression models with real-world data.

• Text:JM Woolridge, Introductory Econometrics: A Modern Approach. South-Western College Pub, 6^th edition, 2015

ECO 3371

ECONOMETRICS II

The second course of the sequence relaxes the assumptions of the classical model and introduces dynamic econometric models and the methods of two-stage least squares. Topics covered include: multicollinearity, heteroskedasticity, autocorrelation, model specification and diagnostic testing, dynamic econometric models and simultaneous-equation models. Examples of simple applications in economics are used throughout. Students use Stata to fit various regression models with real-world data.

Text:JM Woolridge, Introductory Econometrics: A Modern Approach. South-Western College Pub, 6^th edition, 2015

Prerequisite:Econometrics I

ECO 4155     

Current Issues in Bangladeshi Economic Policy

The course will explore the country’s policies in the following areas: trade, industry, fiscal management, energy, environment, poverty reduction, growth, investment, private sector, macroeconomic growth.

Readings: Need to be compiled by the course teacher.

ECO 3340

Economics and Psychology

Description: Traditional economics typically uses the simple “rational actor” model, where people perfectly maximize. We will present models that are psychologically more realistic than this standard model. We will enrich the standard model by incorporating psychological phenomena, including bounded rationality, bounded self-interest, and bounded willpower. Applications will include decision theory, game theory, asset pricing, savings, portfolio allocation, stock market predictability, neuroeconomics.

Readings: Shleifer, Andrei. Inefficient Capital Markets: An Introduction to Behavioral Finance. Oxford UP, 2000.

Thaler, Richard. The Winner’s Curse: Paradoxes and Anomalies of Economic Life. Princeton, N. J.: Princeton University Press, 1994.

Kahneman, Daniel, and Amos Tversky, eds. Choices, Values and Frames.Cambridge University Press, 2000.

ECO 3341

Economics and e-commerce

Description: This course uses theoretical models and empirical studies to help understand the economics behind various internet businesses. We will begin with a discussion of relevant topics from industrial organization (IO) including monopoly pricing, price discrimination, product differentiation, and barriers to entry. The main part of the course will be a discussion of a number of online businesses. In the context of those businesses, we will discuss extensions and applications of the ideas from the first section of the course. )

Readings: Church, Jeffrey, and Roger Ware. Industrial Organization: A Strategic Approach. McGraw-Hill, 1999. ISBN: 9780256205718.

Pepall, Lynne, Dan Richards, and George Norman. Industrial Organization: Contemporary Theory and Empirical Applications. Wiley-Blackwell, 2008. ISBN: 9781405176323.

ECO 4314

TRADE THEORY AND POLICY

Study of the international trade theories including comparative advantage ,Heckscher-Ohlin model, and new trade theories such as intra-industry trade models.  On policy side, the course covers analysis international trade policy and measures, as well as international economic integration and policy regarding international investment and development.

Required Text:  

• Ali Mohammad El-Agraa. Trade Theory and Policy: Some Topical Issues, Macmillan, 1984
• A. K. Dasgupta.  Trade Theory and Commercial Policy in Relation to Underdeveloped Countries,  Asia Publishing, 1965
• Fidelis Ezeala-Harrison. Theory and Policy of International Competitiveness, Praeger/Greenwood, 1999.

ECO 3337

Real Analysis

Description: This course covers the fundamentals of mathematical analysis: convergence of sequences and series, continuity, differentiability, Riemann integral, sequences and series of functions, uniformity, and the interchange of limit operations. It shows the utility of abstract concepts and teaches an understanding and construction of proofs.

Text: Rudin, Walter. Principles of Mathematical Analysis (International Series in Pure and Applied Mathematics).3rd ed. McGraw-Hill, 1976. ISBN: 9780070542358.

Apostol, Tom M. Mathematical Analysis. 2nd ed. Pearson Education, 1974. ISBN: 9780201002881.

Spivak, Michael. Calculus. 4th ed. Publish or Perish, 2008. ISBN: 9780914098911.

ECO 3339

Mathematical Statistics

Description: This includes probability with one or many variables, set theory, expectations and conditional expectations, unbiasedness, consistency, and limiting distributions, statistical inference, bootstrapping, Maximum likelihood, and some discussion of additional tests.

Text: Hogg, Robert; McKean, Joseph; and Allen Craig.  Introduction to Mathematical Statistics.6th Ed.

ECO 4123

Dynamic Optimization and Economic Applications

Description: This course focuses on dynamic optimization methods, both in discrete and in continuous time. We approach these problems from a dynamic programming and optimal control perspective. We also study the dynamic systems that come from the solutions to these problems. The course will illustrate how these techniques are useful in various applications, drawing on many economic examples. However, the focus will remain on gaining a general command of the tools so that they can be applied later in other classes.

Text:

Required

Stokey, Nancy L., and Robert E. Lucas, Jr., with Edward C. Prescott.Recursive Methods in Economic Dynamics. Cambridge, MA: Harvard University Press, 1989. ISBN: 9780674750968.

Acemoglu, Daron. Introduction to Modern Economic Growth. Princeton, NJ: Princeton University Press, 2008. ISBN: 9780691132921.

Recommended

Chiang, Alpha C. Elements of Dynamic Optimization. Long Grove, IL: Waveland Press, 1999. ISBN: 9781577660965.

Luenberger, David. Optimization by Vector Space Methods. New York, NY: Wiley-Interscience, 1997. ISBN: 9780471181170. First published in 1969 by John Wiley and Sons, Inc.

Kamien, Morton I., and Nancy L. Schwartz. Dynamic Optimization: The Calculus of Variations and Optimal Control in Economics and Management. 2nd ed. San Diego, CA: Elsevier, 1991. ISBN: 9780444016096.

ECO 3331

Economics of Cost Benefit Analysis

Description: This course covers the basic components of benefit-cost analysis including estimating impacts, valuing outcomes using market prices, valuing outcomes that are not as easily measured in monetary terms (such as environmental quality, health, and longevity), and addressing uncertainty.

Text: Boardman, A.E., D.H. Greenberg, A.R. Vining, and D.L. Weimer. 2011. Cost-Benefit Analysis: Concepts and Practice (Fourth Edition). Upper Saddle River, N.J.: Pearson.

Prerequisite: Intermediate Microeconomic Theory

ECO 4371

Time Series, Panel and Microeconometrics

Description: This course will place emphasis on both the development of a comprehensive understanding of econometric theory and also focus on the application of these methods to real world situations. This course is designed to provide students the exposure of applied works based on advanced econometrics tools. Although some econometric theory will be covered in this course, the main emphasis will be on working with these models in practice. This course is divided into two broad categories:  Time series econometrics, Panel data and Microeconometrics. At the end of the course, students should be able to conduct their own empirical investigations, and critically evaluate econometric and other statistical evidence.

ECO 3330

Network Economics

Description: Networks are ubiquitous in our modern society. The World Wide Web that links us to and enables information flows with the rest of the world is the most visible example. It is, however, only one of many networks within which we are situated. Our social life is organized around networks of friends and colleagues. These networks determine our information, influence our opinions, and shape our political attitudes. They also link us, often through important but weak ties, to everybody else in the United States and in the world. Economic and financial markets also look much more like networks than anonymous marketplaces. Firms interact with the same suppliers and customers and use Web-like supply chains. Financial linkages, both among banks and between consumers, companies and banks, also form a network over which funds flow and risks are shared. Systemic risk in financial markets often results from the counterparty risks created within this financial network. Food chains, interacting biological systems and the spread and containment of epidemics are some of the other natural and social phenomena that exhibit a marked networked structure.

This course will introduce the tools for the study of networks. It will show how certain common principles permeate the functioning of these diverse networks and how the same issues related to robustness, fragility and interlinkages arise in several different types of networks.

Text: Easley, David, and Jon Kleinberg. Networks, Crowds, and Markets: Reasoning about a Highly Connected World. New York, NY: Cambridge University Press, 2010. ISBN: 9780521195331.

Jackson, Matthew O. Social and Economic Networks. Princeton, NJ: Princeton University Press, 2008. ISBN: 9780691134406.

ECO 4328

GLOBALIZATION AND HISTORY

Globalization after 1492: first globalization boom 1800-1914, autarkic retreat 1914-1950, second globalization boom since 1950. Uses history to explore sources and impact of world market integration, emerging global capital markets, and mass migrations. Does going global foster growth? Who gains and who loses? Why doesn’t more capital flow to poor countries? Why don’t more poor people migrate? Who votes for protection? Who votes for migration restriction?  The course will help students answer these question.

Required Text:

• Kevin H. O’rourke. Globalization and History: The Evolution of a Nineteenth-Century Atlantic Economy, MIT Press
• Globalization,  PrincetonUniversity Press

ECO 4344

ADVANCED TOPICS IN DEVELOPMENT ECONOMICS

This course examines recent development in theories of growth and transformation in the context of developing economies and concentrate in key areas of concern to those responsible for development policy: trade, famine, income distribution, education, gender relations, corruption, and civil conflict.

Required Text:

• Joseph E. Stiglitz,  Gerald M. Meier.  Frontiers of Development Economics,  World Bank Publications, 2000
• Ray Debraj.  Development Economics,  PrincetonUniversity Press, 1998

ECO 4348

THE POLITICAL ECONOMY OF UNDERDEVELOPMENT

The division of the world into rich and poor nations, and the division within poor nations between a minority of rich people and a majority of poor people living at a minimum subsistence level, has been obvious to careful observers for a long time. This course gives an overview of the problems of underdevelopment confronting third-world countries, making use of both Marxist and neo-Keynesian methods of analysis. It makes clear the historical origins of these contemporary problems, particularly with reference to the major countries of Asia and Latin America, and discusses the ways in which inequalities, both within and between countries, arepropaged and perpetuated. Other problems analyzed are the typical patterns of fluctuating growth faced by third-world countries; the social structures in both rural and urban areas and their influence on the behavior of governments and private investors in these countries; and environmental control and population planning issues faced by these countries. Finally, an introduction is provided to the planning methods adopted by most third-world countries and the hurdles such planning has encountered. The illustrations are drawn widely from among third-world countries.

Required Text:

• Amiya Kumar Bagchi. The Political Economy of Underdevelopment  Series: Modern Cambridge Economics Series (ISBN-13: 9780521284042 | ISBN-10: 052128404X)

ECO 4349

ECONOMICS OF INFORMATION AND UNCERTAINTY

Topics covered in this course include moral hazard, adverse selection in the game theoretic models, individual and social choices under incomplete and imperfect information. 

Required Text:

• Birchler, U. W., and M. Butler.  Information Economics,  London: Routledger, 2007
• Mas-Collel, Andreu, Michael D. Whinston, and Jerry R. Green.  Microeconomic Theory, OxfordUniversity Press, 1995.

ECO 4350

LABOR ECONOMICS

ECO 4350 is concerned with a group of topics on the microeconomic aspects of the labor market, in addition to selected topics on the macroeconomic issues of labor. E340 is essentially an application of microeconomic theory to the labor market. It is a course in wage and employment determination. E340 covers such topics as the supply of labor, labor force participation, the demand for labor, and details the market structure of wages. It also recounts for modification of traditional wage theory via an institutional approach. Economic aspects of labor unions, bargaining theories of wages, minimum wage legislations, labor supply incentives of various welfare programs, occupational licensure, labor mobility, migration, and discrimination theories are issues of interest.

Text: Contemporary Labor Economics, C.R. McConnell, S.L. Brue, and D.A. Macpherson, McGraw-Hill Publishing Company, (ninth Edition) 2010.

ECO 4351

INDUSTRIAL ORGANIZATION

Industrial Organization is the study of firms in the markets.  It focuses on firm behavior in imperfectly competitive markets that is the focus of basic microeconomic courses.  The field analyzes the acquisition and use of market power by firms, strategic interactions among firms, and the role of government policy.  The course will be applied from both theoretical and applied perspectives.

• Dennis W. Carlton and Jeffrey M. Perloff. Modern Industrial Organization, (4^th edition), Addition – Wesley Series in Economics
• Jeffrey Church and Roger Ware. Industrial Organization : A Strategic Approach, (1^st edition), Irwin McGraw-Hill, 2000.
• Pepall, L., D. J. Richards, and G. Norman. Industrial Organization: Contemporary Theory and Practice, Thomson-Southwestern, 2005. 

ECO 4353

GAME THEORY AND APPLICATION

Game theory is the study of strategic behavior in situations in which the decision makers are aware of the interdependence of their actions. This course introduces the basic notions of game theory with an emphasis on economic applications. The topics covered are static and dynamic games with complete information; static and dynamic games with incomplete information; and the refinements of equilibrium concepts. The main applications will be in industrial organization: examples include competition and cooperation in the Cournot and Bertrand oligopoly, durable goods monopolist, entry deterrence, predation, price discrimination, and commitment. Applications to other fields, such as job market signaling, efficiency wages, bargaining, provision of public goods, and monetary policy will be discussed as well.

Required Text :

• Drew Fundenberg, Jean Tirole. Game Theory, MIT Press, 1991
• Graham Romp. Game Theory: Introduction and Applications, NetLibrary,Incorporated, 1997
• Game Theory for Economists, Academic Press, 1993.

ECO 4375

HISTORY OF ECONOMIC THOUGHT

The course is a study of the development of economic thoughts starting from the pre-classical period up to the late twentieth century.  Topics covered are agriculture related doctrines, mercantilism, classics, neoclassic, Keynesian, socialism, post-Keynesian, and institutional economics.  Emphasis is given to the underlying philosophies, their essences, and the influences of economic problems on evolution of economic thoughts in each period.

Required Text:

• E. K. Hunt.  History of Economic Ideas – A Critical Perspective,  Wadsworth, California, 1976.
• Gerald M. Meier, Joseph E. Stiglitz.  Frontiers of Development Economics: The Future in Perspective, World Bank and OxfordUniversity Press, 2000
• Ekelund and Hebert.  A  History of Economic Theory and Method, McGraw-Hill, 1983.

ECO 4380

URBAN ECONOMICS

Urban economics deals with the nature and development of urban areas.  The analytical section of the course will cover topics like the location of firms and households in an urban spatial context, the size distribution of urban areas, the theory of land rent, and optimal city size.

Various urban problems such as poverty, racial segregation, discrimination, and pollution and environmental quality are discussed.  Other policy questions deal with congestion tolls and efficient highway investment, land use regulation, central city fiscal problems, and alternative educational policies.

Required Text:

• Arthur O’ Sullivan. Urban Economics (sixth Edition), McGraw-Hill, Irwin, 2007
• Robert L. Bish, Hugh O Nourse. Urban Economics and Policy Analysis, McGraw-Hill, 1978.
• Islam Nazrul. Urban Research in Bangladesh, Centre for Urban Studies, Dhaka, 1994.

ECO 4386

ENERGY ECONOMICS AND POLICY

Energy economics is the field that studies human utilization of energy resources and energy commodities and the consequences of that utilization.  Topics covered include the roles of alternative market and regulatory structures on energy related activities by economic agents—firms, individuals, and government; economic distributional impacts, and environmental consequences; security dilemma; conservation, and future policy direction.

Required Text:

• Ferdinand E. Banks. Energy Economics : A Modern Introduction, Springer, 2000.
• Gregory A. Daneke. Energy Economics, and Environment: Towards a Comprehensive Perspective, Lexington Books, D. C. Heath, 1982.
• Mohan Munasinghe, Gunter Schramm. Energy Economics, Demand Management, and Conservation, Van Nostrand Reinhold, 1983.

ECO 4387 

APPLIED ECONOMETRICS

Topics include the classical linear regression model and its extension including generalized least squares and the theory and application of F-tests.  The maximum likelihood principle is introduced, as are alternative approaches to testing.  A central goal is to provide students with the necessary skills and knowledge to use and to correctly interpret the output from econometric software packages such as TSP, SPSS, SHAZAM, and STATA.

Required Text:

• Jan Kementa.  Elements of Econometrics(Second Edition), Macmillan, New York: 1977.
• A. Koutsoyannis.  Theory of Econometrics, Harper and Row, New York: 1973.
• R. J. Wonnocott and T. H. Wonnocott.  Econometrics(Second Edition), John Wiley and Sons, 1979

• Applied econometrics. A modern approach using Eviews&Microfit (Revised Ed.) ASTERIOU Dimitrious
• Patterson, K. D. An introduction to applied econometrics: a time series approach, New York: St. Martin’s Press, 2000.
• Andrew Jones. Applied Econometrics for Health Economists, (second Ed.) Radcliffe Publishing, 2007, ISBN-10: 1-84619-171-8

ECO 4388

ECONOMICS OF CLIMATE CHANGE

The course begins with an overview and policy history, explores the potential impact of climate change on water resources, agriculture, forests, and other domain, evaluates policies affecting greenhouse gas emissions, including electricity restructuring, carbon sequestration in forests, and early reduction programs. In considering options at both the domestic and international levels, they examine command and control strategies, energy efficiency opportunities, taxes, emissions trading, subsidy reform, and inducements for technological progress.

Required Text:

• The Economics of Climate Change: The Stern Review, Nicholas Stern / CambridgeUniversity Press
• The Economics of Climate Change, Anthony David (edt) Owen / Routledge
• Economic Development, Climate Change and the EnvironmentAjitSinha / Routledge
• Climate Change and Developing Countries , Nijavalli H. Ravindranath / Kluwer Academic Publishers

ECO 4390

RESEARCH METHODOLOGY

The objective of the course is to make the students familiar with the art of using different research methods and techniques.  Topics include the technique of defining a research problem, various research design and their characteristics, describing different measurement and scaling techniques, methods of collection, processing and analysis of data, sampling fundamentals, and the theory of estimation

Required Text:

• C. R. Kothari.  Research Methodology:  Methods and Techniques(Second Edition), New Age International Publisher,2004
• Gideon Sjoberg. Methodology of Social Research, HarperCollins, 1968
• H. M. Blalock and N. B. Blalock. Methodology in Social Research, McGraw-Hill, 1971
• Kumer, Ranjit.  Research methodology: a step-by-step guide for beginners (second ed.), SAGE Publications, 2005.
• Jain, Mahesh K. Research methodology and statistical evaluation,  (New Delhi, India) Shree Publishers, 2005

ECO 4392 

LAW AND ECONOMICS

Study of relationship between laws, economics, and politics.  Emphasis is on the use of economic theories for analyzing rationales of an existence of laws, such as commercial law and property right law.  Topics covered also include the impact of laws on economic behavior.

Required Text:

• Robert Cooter, Thomas Ulen.  Law and Economics, Addison-Wesley Longman, 2007
• Eric A. Posner.  Law and Economics,  Ashgate/Dartmouth, 2001

ECO 4394

GUIDED RESEARCH/INTERNSHIP

In this course, each student will write a research monograph on a topic of his/her choice.  S/He will be supervised by a faculty.  It is expected that in this research s/he will be able to synthesize a research problem. 

Student will now have an option to choose between Guided Research and Internship. If a student takes internship, s/he must submit in internship report.

MGT 3341

PROJECT MANAGEMENT                                                                                

The course covers a wide range of issues to provide a clear understanding about how to accomplish unique outcomes with limited resources under critical time constraints, and about learning to manage projects. It includes nature and scope of project management, importance of project management under the perspective of a developing country, project identification, preparation, project appraisal methods, implementation of project and feed back, post-project evaluation, project scheduling and network analysis, control principles, management information system in project management.

Required Text:

• Linn Stuckenbruck et al.  The Implementation of Project Management: The Professional Handbook, Harper Collins Publishers, 1981
• Harold Kerzner.  Project Management: a systems approach to planning, scheduling, and controlling,  John Wiley and Sons, 2003             

MKT 4309

GLOBAL MARKETING

Study of the principles and ideologies of international marketing management.  Topics covered are business system and factors affecting international business; globalization concept; international marketing strategies;  imports and exports; foreign investment; problem analysis regarding international marketing management; and problems regarding work ethics in international marketing business.

Required Text:

• Philips R. Cateora, John Graham.  International Marketing with Powerweb,  McGraw-Hill
• Warren J. Keegan, Mark Green.  Global Marketing (Third Edition), Prentice Hall.

ECO 3351

Financial Economics

This course highlights the basic theories and issues of Financial Economics. In this course Expected utility theorem, Choice under uncertainty, Term structure of interest rate, Pure exchange economies, Risk, Arbitrage, Law of one price, Capital Asset Pricing Model (CAPM), Arbitrage Pricing Theory, Equilibrium of financial markets and Efficient market hypothesis. The course also introduces several types of financial assets and their valuation techniques. The aim of this course is to make students familiar of the functioning of financial market.

Required text: Financial Economics (2nd Edition) 2nd Edition by ZviBodie, Robert Merton and David Cleeton.

ECO 4379

Financial Econometrics

The objective of this course is to provide a comprehensive understanding of financial econometric models and their applications to modeling and prediction of financial time series data. Students at the end of the course will have a working knowledge of financial time series data and gain expertise in the software to conduct the analyses.

Required text: The Econometrics of Financial Markets by John Y. Campbell, Andrew W. Lo, & A. Craig MacKinlay

FIN 4117

Corporate Finance

This module provides an overview of the corporate finance literature, with a particular focus on the sources of market frictions that can account for the presence of financial constraints. The module attempts to provide answers to fundamental questions such as: Why do we need debt? Why do we need corporate governance? Why do we need banks?

Required text:Corporate Finance by Jaffe Jeffrey, Westerfield Randolph and Ross Stephen

ECO 4346

Behavioral Finance

This module studies ways in which economic behavior differs from that assumed in standard economic theory. This course provides a precise understanding of the psychological and economic models of behavior. Topics include consumer behavior, the behavior of organizations, behavioral development economics and behavioral environmental economics.

Required text: Behavioral Finance and Capital Markets by Adam Szyszka

ECO 4356

Economics of Investment & Financial Management

This course develops concise understanding of financial markets in the context of portfolio theory. In addition to understanding how financial markets operate and relate to the broader economy, students will develop skills to analyze investment decisions and manage investment portfolios. Students will learn efficient market hypothesis (EMH), criticisms and implications of EMH for investment strategies, modern portfolio theory and practice, and tools for evaluating performance.

Required text: Investments, (10^th  Edition) by Bodie, Kane, and Marcus.

ECO 4357

Financial Risk Analysis

This course focuses on the ways in which risks are quantified and managed by financial institutions. The course focuses on financial institutions (banks, insurance companies, mutual funds and hedge funds, etc.) and their risk management issues.  Topics covered include Computation of return, Meaning and types of risk (Systematic risk- Market risk, Purchasing power risk, Interest rate risk, Unsystematic risk- Business risk Financial risk) ,Minimizing risk exposure  interest risk, Value-at-Risk, volatility and correlations, credit risk etc.

Required text: Risk Management and Financial Institutions, (4^th Edition) by John C. Hull (2015)

FIN 4219

Security Analysis and Portfolio Management

This course aims at providing the students a comprehensive introduction to the areas of security analysis and portfolio management and equipping them with advanced tools and techniques for making profitable investment decisions. Portfolio Analysis – Selection and Evaluation – Meaning of portfolio – Reasons to hold portfolio – Diversification analysis, Capital Market Theory (CAPM Model) Present validity of CAPM.

Required text: Security Analysis and Portfolio Management, (6th Edition) by Donald E. Fischer and Ronald J. Jordan

ECO 4358

Risk Modeling and Financial Trading Strategies

This course will allow students to familiarize with how modern financial markets function and how to analyze different types of risks and opportunities. Specifically, students will be introduced to several strategies of portfolio hedging strategies.

Required text: Practical Methods of Financial Engineering and Risk Management: Tools for Modern Financial Professionals (1st ed. Edition) by RupakChatterjee

ECO 4359

Financial Institutions and Regulations

The course will introduce students to the legal and regulatory framework that governs financial institutions and will examine whether the framework is appropriate in order to sustain the integrity and stability of our financial system. Specific topics that will be covered include: goals of regulation; different approaches to regulation; the four pillars theory; constitutional division of powers and other jurisdictional issues; ownership restrictions; consumer protection; capital adequacy and prudential standards; financial crises; and the impact of globalization on financial institution regulation.

Required text: Financial Institutions: The Regulatory Framework by Christopher Nicholls.