ALHOSN University Catalogue Global Knowledge with Local Vision ...

ECN 102 Introduction to Macroeconomics (3 = 3 + 0)
Prerequisite: ECN 101
This is an introductory course to macroeconomic theory and its applications. It does provide an introduction to
theories and methodologies used in applying its basic principles in the area macroeconomic affairs and its
implications on businesses. The course is initially devoted to examining the national economy: its various
macroeconomic components; economic fluctuations, inflation, unemployment, aggregate demand and supply,
productivity and growth. Then it discusses the aggregate demand and supply, the effect of fiscal and monetary
theories and policies. Contemporary economic issues and problems influencing individual, business, and
government decision making behaviors will be highlighted. Various case studies from the book will be used for
further clarifications and student’s participation on this matter is very crucial.
ECN 201 Intermediate Microeconomic Theory (3 = 3 + 0)
Prerequisite: ECN 101
Building upon the foundational knowledge acquired in ECN 101, this course offers a more advanced theoretical
approach to the study of microeconomics. The relationship, both theoretical and applied, between the academic
disciplines of economics and business administration is very close. Economics is the science that deals with the
allocation of limited resources to satisfy unlimited human wants. The scarcity of resources means that we are
constrained in the choices we can make about the goods and services we produce, and which human wants we
will ultimately satisfy. Managers, too, are continually faced with the challenges of managing their
organizations efficiently, a task invariably complicated by the vagaries of economic forces, both micro and
macro. Understanding economic trends is therefore fundamental knowledge for all managers. Microeconomics
studies the economic behavior of individual economic decision makers, such as a consumer, a worker, a firm, or a
manager. It also analyzes the behavior of individual households, industries, markets, labor unions, or trade
associations.
ECN 202 Intermediate Macroeconomic Theory (3 = 3 + 0)
Prerequisite: ECN 102
This course provides a more in-depth theoretical approach to the concepts of macroeconomics introduced in ECN
102; this course studies theories of national income accounts; price indexes; economic growth, various models of
income or output determination, money supply process and monetary system, usefulness of fiscal and monetary
policies, theories of aggregate demand and aggregate supply with their deeper understanding and practical
implications; determination of real income; employment; wages; interest rates and the price level.
ECN 451 Third World Economic Development (3 = 3 + 0)
Prerequisite: ECN 101, ECN 102
This course provides a review of the economic problems of third world countries identifying the nature of
the process of economic development. Topics covered include the structure of developing countries' economies;
various theories of economic growth and development; development and human welfare; planning and markets;
human resources in development; savings and the financing of capital formation in the development process; the
role of international trade and capital flows; natural resources and agriculture in economic development.
ECN 454 International Trade (3 = 3 + 0)
Prerequisites: ECN 101, ECN 102
This course is an analysis of commodity trade and foreign investment among nations. The welfare effects
associated with international trade and the effects of government interference with free trade receive special
attention. Various economic models of foreign trade are considered, along with international factor movements,
the political economy of trade policy, and trade policy in developing countries.
ECN 455 Comparative Economic Systems (3 = 3 + 0)
Prerequisites: ECN 101, ECN 102
This course examines how alternative economic systems resolve economic problems. It provides a comparison
between theory and practice in different forms of economic organization found in the capitalist and (formerly)
socialist world. Topics include: forms of ownership, pricing and valuation, incentives, planning versus markets,
and the reform or transition of socialist economies.
ECN 456 Special Topics in International Economic (3 = 3 + 0)
Prerequisites: ECN 454
This course examines how alternative economic systems resolve economic problems. It provides a comparison
between theory and practice in differ.
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