BACHELOR OF ECONOMICS

Introduction

The Bachelor of Science degree in Economics was introduced in the 2012/13 academic year as a response to increased industry, government, non-governmental organizations and international organisations demand for graduates with a strong grounding in Economics. Therefore, it became imperative to introduce specialized degrees in Economics at bachelors, masters and doctoral levels. A number of specialized Economics programmes tailored to meet the interests and needs of students are now available at many other universities worldwide. In order to stay competitive on the changing higher education landscape, it was thought important that the Copperbelt University also adapts to such changes by introducing the programme of Economics. The department offers only one degree programme: Bachelor of Science in Economics with various specialisations in international economics, health economics, financial and monetary economics, environmental economics, agricultural economics and development economics.

Rationale

Economic decisions have crucial influence on all aspects of all life in any economy. Whether people have studies economics or not are affected by economic decisions they make consciously and unconsciously. It is for this reason that the discussions of economic issues dominate the media and politics because everyone is affected by economics. The study of economics can help different individuals, groups of people and society at large to make choices that can improve the quality of living. A number of theories are taught in economics which are aimed at solving and assessing economic problems faced by households, firms and governments. The program of economics will equip students who will immensely be useful in the public and private sectors nationally and internationally. These professionals will have a strong understanding of requisite economic aspects of modern society and will be familiar with techniques for the analysis of contemporary economic problems so as to develop an ability to exercise judgment in evaluating public policy and also make quick but precise decisions aimed at solving problems as they arise in the corporate world and the public sector. The programme of Economics has a practical dimension that enables the candidates to become any of the following:

      • Economists in the public sector
      • Economists in the private sector
      • Finance experts
      • Market analysts
      • Economic Planners
      • Statisticians
      • Policy analysts
      • Monitoring and Evaluation officers
      • Policy Monitoring and implementation

Aims of the programme

The program’s main objective is to train qualified professional economists who will immensely be useful in the public and private sectors nationally and internationally. These professionals will have a strong understanding of requisite economic aspects of modern society and will be familiar with techniques for the analysis of contemporary economic problems so as to develop an ability to exercise judgment in evaluating public policy.

Objectives of the programme

  • To provide a background for a holistic understanding of microeconomics and macroeconomic concepts that prepare a candidate for the problem solving experience in the business world.
  • To provide a framework for basic analytical and quantitative skills in understanding and evaluating public policy.
  • To equip the candidates with practical research skills in all relevant aspects of economics

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PROGRAMME DETAILS

YEAR 1

  • BEC 110: Introduction to Microeconomics

    • The Study and Methodology of Microeconomics
    • Consumer Choice Theory
    • Theory of the Firm
    • Perfect Competition
    • Monopoly
  • BEC 130: INTRODUCTION TO MACROECONOMIC THEORY

    1. Study and Methodology of Macroeconomics
    1. National Income
    1. Unemployment
    1. Inflation
    1. Government Sector
    1. The Monetary Sector
    1. External Sector
  • BEC 190: BUSINESS LAW

    1.0 Introduction

    2.0 Zambian Judicial System

    3.0 Contract

    4.0 Misrepresentation and Mistake

    5.0 Sale of Goods

    5.0.1 Doctrine of Agency

    6.0 Banker and Customer Relationship

  • OTHER COURSES

    ****** The course outlines for BEC 150 (Principles of Management), BEC140 (Fundamentals of Mathematics) and BEC120 are provided by the Department of Business Administration. They are coded as BS150, BS 120 and BS140 respectively. In addition BS140/BEC140 is originally from the School of Mathematics and it is provided by the said school. Therefore the HEA document from the Department of Business Administration and the School of Mathematics contain these course outlines.

YEAR 2

  • BEC 210: Intermediate Microeconomic Theory

    The Methodology and Mathematics of constrained optimisation and its economic interpretation (use Lagrange method here).

    Consumer choice theory:

    Theory of the Firm

    Markets

    General Equilibrium Theory

    Market Failure

    Introduction to game theory

  • BEC 220 Intermediate Macroeconomic Theory

    Review of National Income Accounts (reading assignment)

    The Goods Market

    Financial Market

    Goods and Financial Markets: The IS – LM Model

    The Labour Market

    The AS-AD Model

    The Phillips curve, the Natural Rate of Unemployment, and Inflation

    Long-run Economic Growth

    The Role of Expectations in Macroeconomic Policy
  • BEC 230 History of Economic Thought

    Background to the study of history of economic thought

    Early Preclassical Economic Thought

    Classical Economic Thought

    Decline of Classical Economics

    Neoclassical Economic Thought

    Walras and the General Equilibrium Theory

    Modern Economics and Its Critics

    The development of econometrics and empirical models in economics

    The development of modern heterodox economic thought

  • BEC 244: Mathematical Economics

    1.0 Matrix Algebra

    2.0 Series

    3.0 Review of Differentiation and Integration

    4.0 Constrained Optimization

    5.0 Concavity and Convexity

    6.0 Ordinary Differential equations

    7.0 Ordinary difference equation

    8.0 Optimal Control

    9.0 Linear Programming

  • BEC 240: Data Processing and Management Information Systems

    Data And Information

    Computers And Associated Peripherals

    Communications Systems

    Computer Appreciation

    The Organisations, Controls And Information Technology Department

    Introduction To Systems Concepts And Systems Analysis

    Introduction To E-Commerce

    Professional Issues

    Piracy, Fraud and Computer
  • BEC 242 (Statistics)

    The course outline for BEC 242 (Statistics), is provided by the Department of Business Administration. It is coded as BS242 in the department of Business Administration. In addition BS242/BEC242 is originally from the School of Mathematics and it is provided by the said school. Therefore the Department of Business Administration contains this course outline.

YEAR 3

  • BEC 310 Public Finance

    Introduction to Public Finance

    Competitive Markets and Welfare Economics

    Imperfect Competition

     Public Goods

     Externalities

    Asymmetric Information

     Public Choice Theory and Voting

    The Theory of Taxation and Tax Policy

    Government Budgeting and Cost Benefit Analysis

    The Public Expenditure and Public Debt

    Income, Inequality and Poverty

    Governance and Public Finance

  • BEC 320 Advanced Microeconomics

    1.0 Consumer theory

    2.0 Theory of the Firm

    3.0 The theory of the market

    4.0 The General equilibrium

    5.0 Game theory

  • BEC 340: Econometrics I

    Nature, Scope and Methodology of Econometrics

    Simple Linear Regression Model

    Multiple Regression

    Dummy variable regression models

    Problems and Solutions of the General Linear Regression Model

    Nonlinear regression models

    Qualitative response regression models

  • BEC 350 Monetary and Financial Economics

    Money Supply Process

    Demand for Money

    Inflation

    Monetary Policy Management

    Introduction and Financial Markets

    The Financial System with special Reference to Zambia

    International Financial System

    Decision making under conditions of Uncertainty

    Mean-Variance Analysis And Probability Distributions

    Symmetric Information: Markets

    Discrete Time Asset Valuation 

    Asymmetric information: Contracts

  • BEC 360: Advanced Macroeconomics

    1.0 Aggregate Demand

    2.0 Labor Market and Aggregate Supply

    3.0 Inflation and Unemployment

    4.0 External Sector

    5.0 Structural Approach

    6.0 Growth Theory

  • 2 BEC330 Enterprise and Entrepreneurship

    1.0      INTRODUCTION TO ENTERPRISE AND THE CONCEPTS OF ENTREPRENEURSHIP

    2.0 BECOMING AN ENTREPRENEUR AND DEVELOPING ENTREPRENEURIAL COMPETENCIES

    3.0 PRACTICAL APPLICATIONS

    4.0 STARTING A BUSINESS

    5.0 ENTERPRISE SUCCESS AND GROWTH


YEAR 4

  • 410 – ECONOMIC DEVELOPMENT

    The Nature of Economic Development (Development Economy)

    Structures and common characteristics of the Developing countries.

    Theories of Development

    Contemporary models of development and underdevelopment

    Starting Economic development

    Possibilities and Prospects

    State owned enterprises

  • BEC 420: International Economics

    Introduction to International Economics

    International Trade Theory

    International Trade Policy

    Economic Integration and International Factor Movement

    The Foreign Exchange Market

    Exchange Rate Determination

    The Balance of Payments

    Macroeconomic Policy in an Open Economy

    International Monetary Systems

    International Macroeconomic Policy Coordination

  • 440: Econometrics II

    Review of the General Linear Regression Model

    Dummy Dependent Variable Techniques

    Special Topics in Regression Analysis

    Statistical Packages and Research

  • BEC 470 Environmental economics

    • Introduction to environmental economics
    • Environmental Economics as a new branch of Economics
    • Welfare economics and the environment
    • Efficiency and Optimality, economic efficiency, the socio welfare function and optimality
    • Efficiency given ideal conditions.
    • market failure, public policy and the environment
    • Necessary conditions for markets to produce efficient allocations, Externalities and Economic Efficiency, The Coase theorem, The second best problem, imperfect information
    • Public choice theory - explaining government failure
    • Environmental pollution: targets
    • Pollution flows, Pollution stocks and Pollution damage, The efficient level of Pollution
    • A static model of Efficiency targets, Modified efficiency Targets, Ambient pollution standards, intertemporal analysis of pollution targets, Efficient Level of emissions of stock pollutants, Estimating the costs of abating pollution, Choosing pollution targets on grounds other than economic efficiency
    • pollution control: instruments
    • Criteria for choice of pollution control instruments, Cost efficiency and cost-effective pollution abatement instruments, Instruments for achieving pollution abatement targets, Economic incentive (quasi-market) instruments. A comparison of the relative advantages of command and control, emissions tax, emission abatement subsidy and marketable permit instruments
    • Pollution policy with imperfect information
    • Difficulties in identifying pollution targets in the context of limited information and uncertainty, the relative merits of pollution control instruments under conditions of uncertainty
    • Environmental input-output analysis
    • Costs and prices, environmental input-out analysis, computable general equilibrium models.
    • Cost-benefit analysis of environmental projects
    • Cost–benefit analysis and the environment
    • Valuing the environment
    • Dimensions of value, The theory of environmental valuation, environmental valuation techniques, the travel cost method, contingent valuation, other techniques
    •  International environmental problems
    • International environmental cooperation, Factors contributing to enhancing probability of international agreements
  • BS450 Strategy and Strategic Management

    THE STRATEGIC MANAGEMENT PROCESS

    THE ESSENTIAL ENTREPRENEURIAL TASKS

    TECHNIQUES OF INDUSTRY AND COMPETITIVE ANALYSIS

    GENERIC BUSINESS STRATEGIES AND INDUSTRY ENVIRONMENT

    GENERIC CORPORATE STRATEGIES

    BUILDING AND DEFENDING COMPETITIVE ADVANTAGES

    TECHNIQUES FOR STRATEGY ANALYSIS AND CHOICE OF STRATEGY

    IMPLEMENTNG STRATEGY, ORGANISATION STRUCTURE, DISTINCTIVE COMPETENCE AND RESOURCE ALLOCATION

    IMPLEMENTING STRATEGY, COMMITMENT, CULTURE, SUPPORT SYSTEMS AND LEADERSHIP

    EVALUATION AND CONTROL OF STRATEGY

  • BEC 424

    ****** The course outline for BEC 424 (Lease and Project Finance), is provided by the Department of Accounting and Finance. It is coded as BF424 by the department of Accounting and Finance.