2007-2008 Academic Catalog (4-Aug-2007).indd - AUK

AMERICAN UNIVERSITY of KUWAIT
2007-2008 ACADEMIC CATALOG
of forecasts, the volatility of foreign exchange markets, and the role of fiscal and monetary
policy in stabilizing the economy. Prerequisite: MATH 101, 103 or 110.
ECON 203 Microeconomics (3) [S]
An introduction to microeconomics. The course focuses on supply, demand and product
markets, production costs and pricing and output under different market structures.
Prerequisite: MATH 101, 103 or 110.
ECON 301 Intermediate Economics I (3) [S]
Mathematically-based theory and concepts of national income determination, employment
and economic growth. Prerequisites: ECON 201, ECON 203, and MATH 201.
ECON 303 Intermediate Economics II (3) [S]
Mathematically-based theory of relative prices of commodities and services under perfect
and imperfect competition; theory of the firm; consumer demand. Prerequisites: ECON 201,
ECON 203, MATH 201, and MATH 203.
ECON 304 Economics of Labor (3) [S]
The application of economic theory to current labor problems, domestic and foreign.
Problems include wage theory and wage differentials, training policy, poverty, unemployment
and underemployment, migration, discrimination, issues of productivity, industrialization and
union policies. Prerequisite: MGMT 201 or FINC 332.
ECON 305 International Economics (3) [S]
Theories and concepts of international trade; real flows; terms of trade; industry structure and
resource differences; international competitiveness; the effects of international trade on the
economies of importing and exporting countries; the effects of tariffs and quotas and other
nontariff barriers on international trade. Also includes multinational corporations, trade and
development, customs, and unions. Prerequisites: ECON 201, ECON 203, and MGMT 201.
ECON 315 Managerial Economics (3) [S]
The course focuses on the application of the concepts of economics to managerial issues.
It integrates economic principles with modern management techniques and theory for the
purpose of efficient managerial decision-making. Topics include optimization techniques,
demand estimation and forecasting, production and cost analysis, market structure, and
pricing practices. Prerequisites: ECON 201, 203, and STAT 201.
ECON 350 History of Business (3) [S]
Exposition and analysis of the development of economic history. Emphasis on tracing the
evolution of economic theories out of specific historical contexts. Major theorists and schools
of economic thought, from Adam Smith to the present will be reviewed. Prerequisites: ECON
201 and ECON 203.
ECON 351 Capital Markets (3) [S]
Analysis of capital markets and the role of banks, and other financial institutions in the
economy. Prerequisites: MATH 103, ECON 201, and ECON 203.
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