Economics Courses

ECO101 Survey of Economics

[4–0, 4 cr.]

This course is a survey of main areas of economics. It introduces students to national income accounting, market mechanisms and structures, the banking and monetary systems, public finance, foreign trade, economic systems, growth and development, economic fluctuations, and economic policies. Course used for transfer of credits for BACC II holders. 

ECO201 Microeconomics

[3–0, 3 cr.]

This course is an introductory course dealing with the nature and scope of economics, consumer behavior, theory of the firm, price determination, and allocation of resources.

ECO202 Macroeconomics

[3–0, 3 cr.]

This course is an introductory course dealing with the principles of national income accounting, national income determination, macroeconomics’ objectives and policy instruments, and the relative effectiveness of fiscal and monetary policies in stabilizing the economy.

ECO304 Mathematical Methods for Economics

[3–0, 3 cr.]

This course covers advanced mathematical methods and tools used in modern economics. The course includes a brief calculus review, matrix theory, con- strained optimization, and elements of game theory and dynamical systems.

Prerequisite: BUS105 Business Math or equivalent

ECO305 Intermediate Microeconomics

[3–0, 3 cr.]

This course covers in depth the theory and applications of consumer and producer behavior. It covers topics such as price/wage determination under various market structures, estimation of demand for a given product, analysis of a firm’s pricing strategies, levels of price discrimination, comparison of the welfare effects of different policies, and externalities and public goods.

Prerequisites: ECO201 Microeconomics and ECO202 Macroeconomics

ECO306 Intermediate Macroeconomics

[3–0, 3 cr.]

This course uses the latest theoretical techniques and models in macroeconomics to address the measurement and determination of income, prices, employment, interest rates, and aggregate demand and supply. The course also stresses stabilization, fiscal and monetary policies, various schools of macroeconomic thought and the sources of instability in the private economy.

Prerequisites: ECO201 Microeconomics and ECO202 Macroeconomics

ECO311 Economic Development

[3–0, 3 cr.]

This course covers the theories of economic development, planning and policies. The course also discusses the building of institutional mechanisms to achieve development.

Prerequisites: ECO201 Microeconomics and ECO202 Macroeconomics.

ECO320 Environmental, Resource, and Energy Economics

[3–0, 3 cr.]

This course introduces students to the basics of environmental and natural resource economics and the fundamentals of environmental policymaking. The first part of the course will discuss environmental pollution and policy solutions, the second part will discuss natural resource exploitation, sustainability and keys issues in energy economics. The course also highlights scientific facts that shape environmental policy debates.

Prerequisites: ECO201, ECO202, and ECO305

ECO332 Introductory Econometrics

[4–0, 4 cr.]

This course introduces students to the theory and practice of econometric analysis. The course will include simple regression models, multiple regression models, regression with discrete random variables, and topics in time series analysis.

ECO333 Comparative Economic Systems

[3–0, 3 cr.]

This course will examine the basic principles and institutions of past and contemporary economies, with a special emphasis on capitalist, socialist and mixed economic systems. The course provides information on the methodology to be employed in making economic and social comparisons across countries and regions, by exploring differences in institutions, policy and performance. In addition to comparing capitalist and socialist systems, the course will study the contemporary experience of transition from one economic system to another. The course will also devote attention to the growing interest in the comparative analysis of institutions in capitalist societies, and to the historical evolution of these institutions. The course introduces students to recent comparative research on globalization and varieties of capitalism.

Prerequisites: ECO201 Microeconomics and ECO202 Macroeconomics

ECO333H Comparative Economic Systems

[3–0, 3 cr.]

This course will examine the basic principles and institutions of past and contemporary economies, with a special emphasis on capitalist, socialist and mixed economic systems. The course provides information on the methodology to be employed in making economic and social comparisons across countries and regions, by exploring differences in institutions, policy and performance. In addition to comparing capitalist and socialist systems, the course will study the contemporary experience of transition from one economic system to another. The course will also devote attention to the growing interest in the comparative analysis of institutions in capitalist societies, and to the historical evolution of these institutions. The course introduces students to recent comparative research on globalization and varieties of capitalism.

ECO335 International Economics

[3–0, 3 cr.]

This course deals with the principles of trade, resource allocation among nations, international monetary and exchange rate arrangements, and trade restriction problems.

Prerequisites: ECO201 Microeconomics and ECO202 Macroeconomics

ECO340 Economics of Organizations and Management

[3–0, 3 cr.]

This course is an introduction to the economics of organizations and management. The course focuses on decision-making within a firm and strategic inter- actions among firms in industries. The objective is to develop the knowledge and strategies useful in making efficient business or managerial decisions both within firms and between firms in different market settings. The course will also study the application of economic models to address the effectiveness of organizations.

Prerequisites: ECO201 Microeconomics and ECO202 Macroeconomics

ECO342 Labor and Human Resource Economics

[3–0, 3 cr.]

This course introduces students to the economic analysis of labor markets and theories of human resources economics. The course includes topics in labor demand and supply, human capital accumulation, wage determination, inequality in earnings, unions and collective bargaining, training and human-resource development, productivity and pay, and labor discriminations.

Prerequisites: ECO201 Microeconomics and ECO202 Macroeconomics

ECO344 Economics, Ethics and Philosophy

[3–0, 3 cr.]

This course is an exploration of some topics at the intersection of economics, ethics and philosophy. The course will examine the ethical and philosophical foundations of normative economics, by seeking to understand the role of efficiency and equity considerations in economic behavior and policy-making. It seeks to investigate the role of ethical theories and concepts in comprehending economic life. The course will also examine questions concerning the methodology of economics, and the distinct nature of economics as a science. Some of the topics to be explored include rationality, self-interest, value, welfare, justice, optimality, models, causality and reductionism.

Prerequisites: ECO201 Microeconomics and ECO202 Macroeconomics

ECO346 Foundations of Political Economy

[3–0, 3 cr.]

The course will address the fundamentals of political economy: production, exchange, value, and distribution. The course mainly is an exploration of the ideas of Adam Smith, Thomas Malthus, David Ricardo, Karl Marx and John Maynard Keynes. In addition, the marginalist theory will be studied within the context of the evolution of economic thought. The basic ideas of Veblen, Hayek and Schumpeter will also be briefly discussed. The course will draw lessons for the understanding of modern capitalism, in relation to issues such as technological change, market competition, wealth creation, income distribution, instability, long-run capitalist development, morality and class conflict.

Prerequisites: ECO201 Microeconomics and ECO202 Macroeconomics

ECO402 Special Topics in Economics

[3–0, 3 cr.]

This course deals with selected topics in economic theory.

Prerequisite: At least 12 credits of economics courses. This course may be repeated for credit with the instructor’s consent.

ECO402H Special Topics in Economics

[3–0, 3 cr.]

This course deals with selected topics in economic theory.

Prerequisite: At least 12 credits of economics courses. This course may be repeated for credit with the instructor’s consent.

ECO420 Monetary Theory and Policy

[3–0, 3 cr.]

This course covers money and the banking system’s nature and functions. It also covers the interaction between the monetary and real sectors, money supply and demand analysis, and the theory of transmission mechanisms of monetary policy, and central banking.

Prerequisites: ECO201 Microeconomics and ECO202 Macroeconomics

ECO422 Public Finance

[3–0, 3 cr.]

This course addresses government intervention under conditions of market failure. Topics covered include public debt, government expenditure patterns, and tax structures. These are considered from the perspective of government services provision and as public policy instruments.

Prerequisites: ECO201 Microeconomics and ECO202 Macroeconomics

ECO511 Remedial Economics

[3–0, 3 cr.]

This course includes essential material in ECO201, ECO202. It is open as a remedial course for accepted students in the M.B.A program.

ECO710 Applied Economics for Executives

[1.5–0, 1.5 cr.]

This course equips executives and professionals with the economic tools needed for business decision making. It provides an overview of macroeconomic and microeconomic fundamentals.  Topics include the determination of national income, economic fluctuations and economic growth. The course covers also market structures and strategic positioning of firms.

ECO716 Monetary Theory and Policy

[1.5–0, 1.5 cr.]

The objective of this course is to provide an overview of how monetary policy interacts with financial markets. It covers the basic functioning of monetary policies in stabilizing economic activities. Topics include the role of central banks in managing and controlling monetary aggregates.

Prerequisite: ECO710 Applied Economics for Executives [1.5 credits]

ECO717 Fiscal Theory and Policy

[1.5–0, 1.5 cr.]

The objective of this course is to provide an overview of how fiscal policy interacts with the aggregate economy. It covers the basic functioning of fiscal policy in stabilizing economic activities. Topics include the different methods of financing government expenditures and the study of the economic basis for, and the impact of, government activity.

Prerequisite: ECO710 Applied Economics for Executives [1.5 credits]

ECO726 Econometrics and Forecasting

[1.5–0, 1.5 cr.]

This course introduces students to the methodology and applications of econometrics and forecasting techniques.  Students will learn how to decompose a time series into its logical elements, to assess forecasting accuracy, and to implement forecasting procedures using professional software.

Prerequisite: QBA730 Business Analytics for Executives [1.5 credits]

ECO781 Selected Topics in Economics

[1.5–0, 1.5 cr.]

This course discusses contemporary issues in Economics.

Prerequisite: ECO710 Applied Economics for Executives [1.5 credits]

ECO811 Business Economics

[3–0, 3 cr.]

This course is an overview of microeconomics from a managerial decision-making standpoint, emphasizing and applying the basic concepts to selected problems. Topics include the firm’s behavioral and managerial theories, determination of national income, demand estimation, cost determination, forecasting, and government regulation.

ECO821 Advanced Microeconomics

[3–0, 3 cr.]

This is an introductory graduate course in microeconomic theory. Topics cover consumption theory, including choice under uncertainty, production theory, partial equilibrium, and general equilibrium in perfectly competitive markets. The course also includes a treatment of game theory. The covered material will equip students with essential microeconomic tools needed for further coursework.

ECO822 Advanced Macroeconomics

[3–0, 3 cr.]

The course will cover advanced models of short-run economic fluctuations and long-term economic growth in modern economies. Elements of fiscal and monetary policies will also be discussed.

ECO831 Applied Econometrics I: Cross Section and Panel Data

[3–0, 3 cr.]

This course provides students with an advanced understanding of the principles of the econometric techniques for analyzing cross-section and panel data. Topics covered include multiple regressions model, instrumental variables, discrete choice models, limited dependent variable models, and panel data methods. Emphasis will be placed on examples in applied microeconomics fields to tackle a number of current economic issues whereby students learn how to conduct empirical research.

ECO832 Applied Econometrics II: Time Series Data

[3–0, 3 cr.]

The aim of this course is to introduce students to a comprehensive theoretical framework of time series econometrics and its applications. Topics covered include stationary univariate time series processes, non-stationary processes, multivariate processes, systems of simultaneous equations, and cointegration and error-correction models. The course involves frequent use of time series datasets with an emphasis on applications in the field of macroeconomics.

Prerequisite: ECO831 Applied Econometrics I

ECO833 Applied Econometrics III: Empirical Strategies for Applied Microeconomics

[3–0, 3 cr.]

This course examines empirical strategies used in applied microeconomics with an emphasis on identification and causality. Topics include randomized trials, regression, instrumental variables, regression discontinuity designs and differences-in-differences. The course provides applications from different fields of economics such as labor, health and development. Special emphasis will be made on the connections between statistical inference in microeconometrics and real-world policy analysis.

ECO835 International Monetary Theory and Policy

[3–0, 3 cr.]

The course will study monetary policy models that are at the forefront of theoretical and empirical research in addition to those utilized by central banks to evaluate policies and various exchange rate arrangements. The relationship between policies and economic outcomes such as unemployment, inflation, stabilization and growth will be investigated in an open-macroeconomic setting.

Prerequisite: ECO822 Advanced Macroeconomics

ECO840 Mathematical and Computational Models in Applied Economics

[3–0, 3 cr.]

The course will introduce mathematical and computational modeling problems of applied economics. The course will cover optimization and dynamic models. The course will include implementation of the models in computer algebra systems GAMS and MATHEMATICA.  

ECO850 Environmental and Resource Economics

[3–0, 3 cr.]

This course provides a treatment of fundamental issues in the economic approach to resource and environmental problems management. Topics covered include the economy-environment linkage, sustainable development, the theory of public goods and externalities, environmental pollution targets and instruments, and renewable and non-renewable natural resource exploitation. 

Prerequisite: ECO821 Advanced Microeconomics

ECO852 Public Economics

[3–0, 3 cr.]

This course is a microeconomic examination of the economic role of government. The course covers theory and evidence on government expenditure and taxation policy. In the expenditure component, we examine the theories of public goods, externalities and social insurance, and applications of these theories in various sectors such as education, welfare programs, and health care. In the taxation component, topics include: tax incidence, optimal tax theory, and the effect of taxation on labor markets and corporate behavior.

Prerequisite: ECO821 Advanced Microeconomics

ECO855 Growth, Business Cycles and Economic Policy

[3–0, 3 cr.]

This course will study the interplay between economic policy, economic growth and business cycles in developed and developing economies. Fiscal policies aimed at stabilization and growth will be introduced from theoretical and empirical perspectives. The role of economic policy in engendering economic growth and development in developing countries will also be studied utilizing traditional and structural macroeconomic models. Examples from Great Depression, Great Recession, postwar capitalist development and developing countries experiences will be introduced.

Prerequisite: ECO822 Advanced Macroeconomics

ECO861 Economic Policies in the Middle East

[3–0, 3 cr.]

The first part of the course studies the macroeconomic situation in the MENA region. An overview of fiscal and monetary policies, in addition to the choice of exchange rate regimes, is conducted.  The second part of the course studies public economics and policies in Middle East countries. The course investigates the provision of public goods, social security systems, health provision, and tax structures. The issues of efficiency and equity are given prime importance.

ECO863 Challenges of Economic Development in the Middle East

[3–0, 3 cr.]

This course discusses current economic issues in the Middle East. Applying economic theory together with the institutional framework in the MENA region, important problems and challenges are analysed. Under experienced supervision, students analyse specific economic issues and present potential theoretical explanations and policy recommendations. The analysis is based on theoretical and empirical methods commonly used in economics, taking into account the relevant institutional framework in the economies under investigation.

ECO880 Special Topics in Economics

[3–0, 3 cr.]

ECO898 Applied Economics Project

[3–0, 3 cr.]

The course is a research project written under the supervision of a faculty member. Students are required to use economic models and tools to tackle an applied economics problem. Students are then required to present their work in a forum open for economics faculty and graduate students. The project may involve work outside LAU with external constituents (e.g., research institutes, specialized regional and international agencies, banks, or government entities).

Prerequisite: Consent of Department