Bachelor of Science in 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
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.
- 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
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
- Study and Methodology of Macroeconomics
- National Income
- Unemployment
- Inflation
- Government Sector
- The Monetary Sector
- 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
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.
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
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.