Principles of Microeconomics (ECON105)

This course provides students with an introduction to economic analysis and institutions. The course starts with developing simple graphical and mathematical models of decision making by individual economic agents: consumers, workers and businesses. Students are directed to analyze interactions between the agents in product and factor markets using the concepts of demand, supply, and equilibrium. It also introduces students to various market structures from perfect competition to monopoly, and describes the roles of government in market economy that include the pricing system in resource allocation and income distribution.

Credit Hours : 3

Course Learning Outcomes

1. Describe economics as a study of individuals interacting with each other and the business sector
2. Show the outcomes of the interaction between buyers and sellers in the market
3. Evaluate the effect of government policies and argue about how those relate to price setting
4. Evaluate elasticities or, in other words, the responsiveness of buyers and sellers to changes in circumstances
5. Construct input-output and input-cost graphs and explain the underlying relationships
6. Compare and contrast monopoly and perfect competition as different market structures and assess their efficiency and welfare implications

Principles of Economics (ECON110)

This course studies basic economic concepts and theories of both microeconomics and macroeconomics. It covers such topics as supply and demand, the firm and its cost structure, the public sector, national income accounts, inflation, unemployment, the business cycle, economic policies, the monetary and banking systems, international trade and finance, and economic growth. This course does not replace nor is it equivalent to ECON 105 or to ECON 125. (Not offered to students in the program)

Credit Hours : 3

Course Learning Outcomes

1. Assess The Role Of Monetary Policy In The Economy
2. Communicate Economic Reasoning Orally And In Writing
3. Describe What Causes Business Cycle And Its Interaction With Inflation And Unemployment
4. Distiguish Various Economic Concepts Such As: Scarcity, Opportunity Cost, And Efficiency, National Accounting, Unemplyment Rate, Nominal And Real Aggregate Variables.
5. Explain The Economic Rational In Business Decision Making
6. Identify The Role Of Government In The Economy

Principles of Macroeconomics (ECON125)

This course introduces students to macroeconomic analysis and its applications. It starts with an understanding of how composition, size, and distribution of national income are determined, and continues with exploring the problems of inflation and unemployment in a modern economy. Students are expected to understand government roles in macroeconomics through the effectiveness of fiscal and monetary policies. Attention is also given to the sources and consequences of economic growth and to the nature of international linkages faced by an economy through goods and capital markets.

Credit Hours : 3

Prerequisites

• AGRB200 with a minimum grade DECON105 with a minimum grade D or 

Course Learning Outcomes

1. Analyze the standard of living and the cost of living for different countries using the concepts of real GDP and the different price levels
2. Examine the causes and the effects of inflation and unemployment.
3. Explore how productivity affects a country’s growth.
4. Investigate what causes business cycle and its interplay with inflation and unemployment.
5. Assess the effects of fiscal and monetary policy in the short and the long run using aggregate demand and supply analysis.
6. Interpret reliable economic data to conduct basic economic analysis for UAE and other countries.

Intermediate Theory of Microeconomics (ECON211)

This course further develops student understanding of the economic behavior of individuals and firms—how they respond to changes in opportunities and constraints and how they interact in markets. Topics include consumer theory, theory of the firm, competition, and factor markets. Moreover, the course looks at market failures such as imperfect competition (monopoly and oligopoly) and externalities, as well as their consequences on welfare. Throughout the course students will get a sense of the conditions under which market economies are efficient, as well as the way governments can make the economy less or more efficient.

Credit Hours : 3

Prerequisites

• ECON105 with a minimum grade D
• MATH115 with a minimum grade D

Course Learning Outcomes

1. Explain how consumers make choices that maximize their utility given their limited income.
2. Analyze the process through which firms convert inputs into outputs.
3. Apply basic microeconomic principles of analysis to explain how markets function.
4. Distinguish different market structures and explain how each of them work.
5. Distinguish between short and long run horizons and assess their consequences.
6. Appraise how government intervention affects efficiency and welfare as well as differentiate between its positive and normative implications.

Intermediate Theory of Macroeconomics (ECON212)

This is a course on intermediate macroeconomic theory, where students will be introduced to concepts and analytical tools frequently used by economists to tackle a range of macroeconomic issues that are relevant to businesses, governments, and households. It examines issues relating to long-term growth as well as business cycles. Significant attention is paid to macroeconomic stabilization (fiscal and monetary policies). The course also introduces open macro economy issues such as balance of payments, exchange rates and currency crises. The course is not just a descriptive survey of issues. The aim will be to provide coherent analytical frameworks and theoretical foundations to understanding cotemporary global macroeconomic policies.

Credit Hours : 3

Prerequisites

• ECON125 with a minimum grade D

Course Learning Outcomes

1. Examine the different approaches to and problems in measuring key macroeconomic variables such as GDP, inflation, and unemployment.
2. Explain macroeconomic theories as well as various schools of thought and how they apply to real world policy issues.
3. Explain the origins, evolution, sources, and mechanisms of economic growth.
4. Apply simple analytical models like the IS-MP/AD-AS to conduct macroeconomic analysis.
5. Examine the impact of exchange rate fluctuations on the macroeconomy
6. Produce data-driven policy briefs on contemporary macroeconomic policy issues.

Money and Banking (ECON215)

This course focuses on understanding money, the banking and financial systems, and the role of monetary policy in the economy. The course emphasizes concepts that are fundamental to understand financial instruments, institutions and markets, and the tools and techniques employed throughout the financial system. The course objectives include an understanding of 1) the origins and nature of money; 2) the determination of interest rates; 3) how to apply basic knowledge of financial markets and instruments; 4) how money and capital market’s function; and 5) the role of central banks and formulation of monetary policy.

Credit Hours : 3

Prerequisites

• ECON125 with a minimum grade D

Course Learning Outcomes

1. Discuss the structure of the Financial System and the role of money in the economy.
2. Explain the significance of the Financial System in the economy
3. Identify the determinants of interest rate in the Financial Markets and Financial Institutions.
4. Recognize the role of the Financial System in the money creation.
5. Produce professional quality reports on Money and Financial System.

Introduction to Econometrics (ECON231)

The objective of this course is to provide the basic knowledge of econometrics that is an essential tool for any serious economist or social scientist. This course emphasizes both the theoretical and the practical aspects of econometric analysis. It aims at developing an intuitive understanding of the material that allow students to utilize these skills effectively and creatively. Throughout the course, students will be offered practical exercises that give them opportunity to use statistical software in conducting econometric analyses. After accomplishing the goals of this course, students are expected to have a solid foundation for the elementary concepts, which enable them to acquire further specialized and advanced econometric skills by self-learning.

Credit Hours : 3

Prerequisites

• MATH115 with a minimum grade D
• STAT102 with a minimum grade D
• STAT202 with a minimum grade D

Course Learning Outcomes

1. Discuss the assumptions, concepts, and methods in regressions
2. Interpret the results of multivariate regressions
3. Conduct hypothesis testing on the coefficients of regression equations
4. Apply econometric techniques to investigate economic or financial relationships using economic data and statistical software.

Public Projects Economics (ECON236)

This course practically introduces the students to the foundations of cost-benefit analysis (CBA) techniques in public projects. It applies the concepts of social surplus and allocative efficiency, costs and benefits in primary and secondary markets, discounting, market distortions and the various approaches to shadow pricing in developing countries to public projects appraisal. Various related public policy issues, e.g., monetization, the identification and valuation of social impacts, and the tradeoff between efficiency and equity are addressed; that leads to considering the rationale for, and reviewing the methods of, distributional weighting in CBA (DWCBA), cost-effectiveness analysis (CEA), multi- criteria analysis (MCA), and the qualitative (non-economic) techniques of project assessment.

Credit Hours : 3

Prerequisites

• ECON211 with a minimum grade D

Course Learning Outcomes

1. Distinguish between primary and secondary benefits and costs in a simple cost benefit analysis framework.
2. Apply discounting techniques in a simple public project or policy appraisal.
3. Use shadow pricing methods in a simple Social Benefit-Cost analysis framework.
4. Write simple appraisal conclusions and qualitative environmental and distributional impact reports.
5. Evaluate the advantages and disadvantage of different methods of appraisal for various types of projects.

Environmental and Energy Economics (ECON237)

This course introduces timely topics related to the Environment-Energy-Economy relation. Topics include the economics of pollution, the greenhouse effect and global warming. We use data for the UAE and GCC region to analyze the relationship between different patterns in energy production and consumption, economic diversification, and emissions growth. We also study market-based policy solutions to reduce carbon footprint, such as carbon trading and carbon taxes, in light of the world’s environmental obligations. The second part of the course focuses on energy and the essential transition to renewable resources. We study the economics of oil and the behavior of oil prices and the OPEC, new trends in the production of natural gas, and the prospects for renewable energy with special focus on Abu Dhabi’s MASDAR city initiative and other environmental policies.

Credit Hours : 3

Prerequisites

• ECON105 with a minimum grade D

Course Learning Outcomes

1. Analyze And Explain, Using The Concept Of Externalities, Environmental And Energy Dilemmas And Identify Alternative Solutions
2. Critically Examine Oil Price Movements And Identify Their Causes In Light Of Existing International Oil Market Fundamentals And Political Economy Forces.
3. Describe And Discuss The New Trends In Renewable Energy Technologies
4. Distinguish Between The Various Concepts And Perceptions Of The “Energy Crisis”, And Identify The Differences In Policy Implications.
5. Relate The Predictions Of The Theory Of The Mine To The Practices And Outcomes Of The Energy Markets Today And Explain The Gap.

Competition and Business Strategy (ECON239)

This course provides students with economic foundations for strategic analysis and helps them understand the basic theoretical and policy implications of concepts related to the different types of market structures. Students will get familiar with the behavior of firms and their strategic interrelations. Among the topics covered are basic game theory; agency problems and incentives; boundaries of the firm and product diversification; competition and evolution of industry structure; firm strategic positioning and sustaining of competitive advantage; and the origins of competitive advantage innovation. The coverage of these topics will be illustrated with applications related to current events and policies. The course will cultivate the students’ analytical thinking and, among other things, develop their ability to comprehend different firm and industrial issues from the firm, industry and social desirability perspective.

Credit Hours : 3

Prerequisites

• ECON105 with a minimum grade D

Course Learning Outcomes

1. Identify and contrast different costs concepts as well as apply them to specific firms/industries scenarios.
2. Design and assess alternative plans of action as well as predict their consequences.
3. Assess situations in which firms have to decide on making or buying an input as well as firms have to handle agency problems.
4. Identify important firm/industry characteristics and appraise their implications for short as well as potential long run profitability.
5. Design the best price strategies under different scenarios.

Microeconomics of Competitiveness (ECON311)

The course explores the social welfare implications of different market structures, as they affect the behaviour and strategies of firms in terms of price, output, or R&D. Part of the course will focus on the theory of oligopoly and how it fits within the overall structure-conduct-performance (SCP) paradigm. The lessons obtained from the theory will then be applied to the analysis of mergers, price-fixing, or abuse of dominant position, among other topics. Real-life case studies will be discussed in class, and they appear in all forms of assessment.

Credit Hours : 3

Prerequisites

• ECON211 with a minimum grade D

Course Learning Outcomes

1. Critically discuss what determines inter-industry differences in the structure of markets.
2. Identify how firms interact with each other in their price, output and R & D decisions.
3. Analyze how firms may act strategically to retain profits by deterring entry, and what motivates firms to merge or collude.
4. Evaluate how the structure of industries affects the pricing, output, R&D and their economic performance.
5. Analyse why and how existing regulations protect competition.

Climate Change Economics and Policy (ECON320)

The aim of the course is to apply key concepts and fundamentals of economic analysis to study the environmental, economic, social, and economic policy (either mitigation or adaptation) issues related to climate change. The objective is to enable students to understand the drivers of climate change, the methods to analyze them, and the ways used in order to design climate change policies in theory and practice. The introductory part of the course will discuss why climate change represents a main issue for our societies – i.e., the economic challenge raised by climate change with the notion of global externality, with specific attention to how reducing GHG emissions to lower the negative impacts of present activities on future welfare. The second part of the course will discuss how to design effective policy instruments in order to limit climate change, the costs and benefits of such policies, and the international architecture and political economy issues in implementing these policies. This part of the course also discusses UAE's mitigation and adaptation policies. Lastly, the course will briefly discuss the role of energy prices and renewable energy in global climate change and addresses the issues of climate change from developing country perspectives.

Credit Hours : 3

Prerequisites

• ECON211 with a minimum grade D
• ECON212 with a minimum grade D

Course Learning Outcomes

1. Identify key issues relating to climate change.
2. Analyze how economics can offer public policies aimed at mitigating the effects of climate change.
3. Apply economic instruments in designing appropriate climate change policies.
4. Evaluate the role of energy prices in mitigating the effects of climate change.
5. Undertake independent research in the area of the economics of climate change mitigation.

Energy Economics and Policy (ECON321)

The course applies key economics and political economy concepts and theories to address contemporary trends in global energy markets and their implications from national and global perspectives. Topics of interest to the UAE long-term energy strategy (2050) are emphasized. That includes, the Energy-Economy-Environment nexus, Energy Indicators for Sustainable Development, the economics of renewable and non-renewable energy, the role of markets and international policies in the global energy transition, oil and natural gas markets and prices, unconventional sources such as shale gas, the impact of globalization on energy performance and productivity.

Credit Hours : 3

Prerequisites

• ECON211 with a minimum grade D

Course Learning Outcomes

1. Explain how energy demand and supply factors influence oil prices in the short and the long run.
2. Critically assess how shale gas advancements have changed the way the oil and natural gas markets operate.
3. Apply economic methods and analysis to assess energy efficiency policies and effects on energy sustainability.
4. Analyze how energy transition polices affect climate change and the attainment of the relevant Sustainable Development Goals.
5. Effectively communicate the highlights and conclusions of articles addressing recent energy markets developments.

International Trade (ECON330)

This course focuses on both international trade theory and trade policy analysis. Emphasis will be placed on using trade theories to understand the reasons for and processes of international trade in goods and services. The course is not just a descriptive survey of trade policy issues but will aim to provide theoretical frameworks to examine topics such as comparative advantage, factor mobility, new trade theories, and political economy of trade policy.

Credit Hours : 3

Prerequisites

• ECON211 with a minimum grade D

Course Learning Outcomes

1. Explain the importance of international trade in a globalized economy.
2. Debate the role played by trade policy in promoting economic growth.
3. Explain the difference between comparative and competitive advantage
4. Use theoretical models to understand why countries engage in international trade.
5. Apply general equilibrium reasoning to understand the political economy of trade and trade policy analysis.
6. Communicate, orally and in writing, the salience of contemporary international trade policy issues.

International Finance and Policy (ECON331)

This course focuses on selected analytical and policy issues relating to international financial markets and policies. Emphasis will be placed on developing simple analytical tools to understand international macroeconomic policy issues confronting the world economy. The course is not just a descriptive survey of issues but will aim to provide analytical frameworks to examine topics such as international financial crises, exchange rates and its impact on trade and investment, the role of international agencies such as the International Monetary Fund, as well as cutting-edge issues in financial globalization.

Credit Hours : 3

Prerequisites

• ECON212 with a minimum grade D

Course Learning Outcomes

1. Explain the core concepts and theories in international finance and open-economy macroeconomics.
2. Apply simple analytical frameworks to study important issues in international finance such as exchange rates and financial crises.
3. Evaluate the nature, evolution, and impacts of financial globalization on emerging markets.
4. Debate the empirical evidence on the benefits and trade-offs associated with international financial integration.
5. Communicate, orally and in writing, the significance of contemporary international financial policy issues.

Economic Development and Institutions (ECON333)

This course introduces students to the field of economic development. It examines a number of definitions and measures of development and highlights the structural diversity and common characteristics of Less Developed countries LDCs. In addition, the course reviews different theories of development and underdevelopment. The role of globalization and international trade in development is discussed. Major issues in economic development of the Arab world are also addressed.

Credit Hours : 3

Prerequisites

• PHIL120

Course Learning Outcomes

1. Apply Economic Development Principles To Real World Events
2. Describe The Economic Theory Addresses World Events, In Particular Related To Development
3. Effectively Operate In Groups And Summarize Their Findings
4. Identify Social Dilemmas Embedded In The Economic Development Theory
5. Use Their Critical And Analytical Skills When Addressing World And Uae Development Issues

International Economics and Globalization (ECON338)

This course introduces students to the concepts of international economics and international business, focusing on two main themes: international trade and globalization. The course covers Ricardo’s comparative advantage theory and the allocation of trade based on specialization and opportunity costs, the Heckscher-Ohlin model of resource abundance and factor intensity as the main source of comparative advantage and direction of international trade in the modern world, the role of different market structures, such as monopoly, oligopoly, and monopolistic competition, in international trade from the business perspective, and the welfare implications of barriers to trade, such as tariffs, quotas, and regulations. Last, the process, trends, historical facts, and effects of globalization will be discussed in conjunction with international trade.

Credit Hours : 3

Prerequisites

• ECON212 with a minimum grade D

Course Learning Outcomes

1. Analyze The Different Theories Of International Trade And Apply Them To Study Real World Issues
2. Assess The Costs And Benefits Of Different Trade Policies
3. Collect And Interpret Reliable Economic Data To Analyze The International Trade Position Of A Country And Suggest Policy Recommendations
4. Evaluate The Impacts Of Regional Integration, Multilateral Arrangements And International Organizations
5. Explain How Exchange Rate Is Determined In The Short And Long Run And How It Interacts With The Macroeconomics Of A Country
6. Identify And Assess The Different Determinants And Effects Of Globalization From The Perspectives Of Both Developed And Developing Countries

Public Economics (ECON344)

The aim of this course is to provide the tools to analyze the role of the role of the government and the public sector in mixed economies. The course discusses the ideal situation of perfectly competitive markets and how market structure relates to economic efficiency. Market failures result in inefficiency. The government can not only improve efficiency but resource distribution in society. Topics covered in the course include market efficiency, market failure, externalities, equity, public goods, public expenditure, taxation, and fiscal federalism.

Credit Hours : 3

Prerequisites

• ECON211 with a minimum grade D

Course Learning Outcomes

1. Explain how markets and governments affect economic efficiency.
2. Distinguish market failure sources and the role of government in correcting them.
3. Compare between the different public goods.
4. Analyze the alternative means and impact of government finance.
5. Compare income, consumption, and wealth taxes.
6. Examine the impact of the different taxes on saving, investment, and labor.

Sustainable Development (ECON350)

This course aims to provide a holistic view of economic issues pertaining to sustainable development. It begins with an overview of economic development and its distinction from economic growth. Topics include: poverty, inequality, unemployment, population growth, competitiveness, human capital, technology, the IV industrial revolution, and urbanization. Additionally, the course assesses how institutions affect economic outcomes and why some nations fail while others succeed. Next, this course considers the impediments to development and how they can potentially be implemented through sustainable development policies at the micro and macro level. It covers topics such as definitions and intellectual background of sustainable development, measurement of sustainable development, sustainable management of cities and communities, and sustainable industry and infrastructure. Theoretical issues are illustrated by case studies with a special emphasis on the UAE.

Credit Hours : 3

Prerequisites

• ECON211 with a minimum grade D
• ECON212 with a minimum grade D

Course Learning Outcomes

1. Describe central themes and issues of sustainable economic development.
2. Debate sustainable economic development goals, challenges, and opportunities.
3. Analyze sustainable development paths through a range of sustainability indicators.
4. Analyze empirical evidence on the policies of sustainable economic development.
5. Evaluate policy actions and discussions related to the areas covered in the course

Economic Policy Analysis (ECON360)

This course is intended to equip students with the needed techniques to conduct applied economic analysis of public policies. In its first part, the course introduces the foundations, basic concepts and goals of public policy and the role of the policy analyst. Relevant microeconomics, public choice foundations, and quantitative methods and tools for public policy analysis will be reviewed, including theories on the rationale of government intervention in the economy. The second part of the course is devoted to the study of the principles of impact evaluations and its application in economic policy cases, e.g., healthcare, urban transportation, pollution control, Emiratization, Value Added taxes etc. Students will work in teams towards a common project.

Credit Hours : 3

Prerequisites

• ECON231 with a minimum grade D
• ECON236 with a minimum grade D

Course Learning Outcomes

1. Apply appropriate techniques and economic frameworks to the analysis of a range of public policies.
2. Assess economic policies, using impact evaluation or econometrics methods.
3. Integrate identified social and sustainability aspects in economic policy proposals.
4. Write effective policy briefs, in teams and individually, advising public officials on a particular economic policy.
5. Communicate, orally, in teams and individually, public policy proposals and discussions.

Resource Economics and Policy (ECON420)

This course aims to apply key concepts and fundamentals of economic analysis to the study of natural resources use and management. In its first part, the students are introduced to the microeconomic theories and techniques relevant to understanding issues related to the depletion and degradation of natural resources as a result of human behavior, e.g., common pool resources. The second part is devoted to the study of public policy and issues of governance of natural resources. It introduces an analysis of market-based and regulatory solutions to achieving economic efficiency and sustainability that help inform policies related to effective natural resource management. Finally, the course will address some applied natural resource problems of relevance to the UAE economy, such as water resources, fisheries, land and biodiversity.

Credit Hours : 3

Prerequisites

• ECON236 with a minimum grade D

Course Learning Outcomes

1. Identify market failures related to natural resources and their implications on resources sustainability.
2. Assess the tradeoffs of different resource efficiency and sustainability policies.
3. Apply relevant economic concepts and frameworks to analyze natural resources’ demand and supply sides.
4. Reflect on the role of firms and individuals’ social responsibility in natural resources sustainability.
5. Effectively communicate conclusions or findings of recent articles on natural resources policies.

Research Methods in Economics (ECON432)

The aim of this course is to supply students with an understanding of the issues and problems of conducting research in economics and the tools available to them. The course will enable students to develop skills necessary to conduct applied research in economics or an allied field. During the course students will develop original research question/s and hypotheses, conduct a literature review and use bibliographic software to manage their citations and references, analyze the problem/s using appropriate research methods (quantitative/qualitative) according to ethical standards, test their analysis or model of the problem, interpret their results, and write up the findings using appropriate academic language.

Credit Hours : 3

Prerequisites

• ECON211 with a minimum grade D
• ECON212 with a minimum grade D
• ECON231 with a minimum grade D

Course Learning Outcomes

1. Analyze, Criticize And Research Contemporary Economic Issues In Relation To The Uae'S Economic Development
2. Communicate Their Research Results Effectively In A Written Format Understandable To An Expert And Layperson Using Appropriate Academic Writing Skills
3. Develop A Well-Articulated Research Question/S And Abstract, Based On A Comprehensive Review Of The Existing Academic Literature
4. Present Their Research Findings To A Technically Minded Audience
5. Understand Different Research Methodologies And Carry Out Primary And/Or Secondary Research
6. Understand The Ethical Implications Of Research Including How To Avoid Plagiarism And Demonstrate Use Of Technical Software For Referencing And Citation Purposes

Applied Economics of the Middle East (ECON433)

This course aims to provide students with an understanding of the socio-economic and structural characteristics of the Middle East and North African economies. The course analyses the contemporary opportunities and challenges facing these economies, with a specific focus on the Gulf region. Learning methods require students to analyze academic articles on the region and utilize econometric techniques. Among the topics covered are developments in the oil and gas sector, labor markets and migration, the implications of changing demographics such as declining birth rates, the role of inter-regional and international trade, capital flows, the role of government policy, economic reforms and diversification, and finally the significance of banks and financial markets in the region’s economic development.

Credit Hours : 3

Prerequisites

• ECON105 with a minimum grade D
• ECON212 with a minimum grade D
• ECON231 with a minimum grade D

Course Learning Outcomes

1. Assess The Applicability Of Development Theories To The Economies In The Middle East
2. Discuss The Economic Teachings Of Islam
3. Evaluate The Role Of International And Intra-National Trade In The Economic Development Of The Middle East
4. Explain Structural Transformation And Growth In The Middle East
5. Express The Role Of Oil And Gas Production In Development Of The Middle East
6. Identify Demographic Changes In The Middle East And Their Economic Consequences

Labor and HR Economics (ECON441)

This course introduces students to the key aspects of labor economics and human resource development theory: demand and supply; market equilibrium; productivity; and incentive structures. It introduces the main tools used to analyze, evaluate and understand labor market dynamics. In addition, it concentrates on the labor markets of the UAE and the Arabian Gulf. It introduces UAE specific case studies and labor market data for empirical applications.

Credit Hours : 3

Prerequisites

• ECON211 with a minimum grade D

Course Learning Outcomes

1. Illustrate how workers make labor supply, occupation choice, and human capital investment decisions.
2. Relate training costs to employees’ wages.
3. Analyze how wages and employment are determined in the alternative labor and product markets.
4. Compare the alternative pay schemes and their effect on labor efficiency.
5. Dissect the government impact on the GCC labor market.

Selected Topics In Economics (ECON455)

This course introduces students to the art of applying different economic theories and concepts to specific “real world” topics in economics. The course topics may vary to reflect changing interests and state of the art topics. Depending on faculty interest and availability, the course may cover a wide range of special topics in economics with an applied orientation. For instance, it may cover topics that belong to Health Economics, Public Economics or Sustainable Development Economics. The present course topics are related to sustainable development. This course is aimed at giving an introduction to the basic concepts of “sustainable development” and how these concepts have been implemented through “sustainable development policies” at the micro and macro level. The theoretical contents of the course is based on the concepts of environmental and resource economics and macroeconomics. Theoretical issues are illustrated by case studies with a special emphasize on the UAE and/or GCC cases. It covers topics such as: definitions and intellectual backgrounds of sustainable development, measurement of sustainable development, sustainable urban management, sustainable management of resources, sustainable development and firms environmental strategies.

Credit Hours : 3

Prerequisites

• ECON211 with a minimum grade D
• ECON212 with a minimum grade D

Course Learning Outcomes

1. Apply The Appropriate Technique Of Economic Evaluation To Resource Allocation Decisions
2. Apply The Fundamental Principles Of Health Economics To Decision Making In Health Care
3. Critically Appraise A Health Economics Article
4. Describe And Critically Appraise And Compare The Role Of The Government And The Private Market As Health Insurance Providers
5. Describe The Different Methods That Can Be Used To Assist Health Care Priority Setting Development.
6. Describe The Fundamental Principles Of Health Economics
7. Discuss Different Methods For Eliciting Preferences And The Strengths And Weaknesses Of Each Method
8. Discuss The Different Methods For Measuring Costs And Benefits In Economic Evaluation
9. Discuss The Role Of Institutions And Health Care Systems
10. Discuss The Role Of Markets And Incentives In The Demand And Supply Of Health Care
11. Interpret Basic Regression Coefficients From A Dce

Seminar in Economic Policy Research (ECON460)

This course is a culmination of students’ exposure to the various areas and techniques of economics and is intended to provide an integrative experience to the study of economic policy analysis. Students will be coached on one-on-one basis to develop their own research interests, choose their research topics in economic policy, work individually to write their own research paper, and present their results. In the individual project, students are expected to shape their research questions, review relevant literature, formulate research hypotheses, collect economic data, implement appropriate econometric models, analyze the results, draw conclusions, and provide policy recommendations. Students will practice how to write an economic policy brief and make oral presentations on their findings and conclusions.

Credit Hours : 3

Prerequisites

• ECON212 with a minimum grade D
• ECON344 with a minimum grade D
• ECON360 with a minimum grade D

Course Learning Outcomes

1. Formulate a proper economic research question and the related hypotheses.
2. Identify possible econometric techniques and their requirements for a given research question.
3. Interpret the results from using a statistical software to draw findings.
4. Write an effective literature review corresponding to the research problem under investigation.
5. Effectively communicate, orally and in writing, the research findings and implications for policy.

Economics for Policy Analysis (ECON541)

The course will focus on the principles and techniques of economics important for analyzing economic aspects of public policy. First, the course will focus on the working on the aggregate economy highlighting topics like employment, productivity, trade and fiscal deficits, inflation, interest rate and exchange rates and their impacts on public policy. Then the course will focus on micro issues like the models of economic behavior, the price system, market failure and interventions, and related policy instruments. The course will examine Islamic principles and theories of the above topics, as appropriate

Credit Hours : 3

Course Learning Outcomes

1. Explain how a system of perfectly competitive markets can achieve efficient outcomes.
2. Explain why and how positive and negative externalities constitute a failure of the market system.
3. Describe the taxonomy of public goods and explain how they can be produced and financed.
4. Describe alternative means of financing government activities and compare the economic impacts of a different tax structures.
5. Explain the differences between criteria used to evaluate different methods of government finance and the impact of government taxes on private agents’ income, consumption and wealth.
6. Explain how cost/benefit analysis can be used to assess public policies.

Financial Management and Public Budgeting (ECON544)

This course will examine the major aspects of financial planning and public budgeting focusing on topics like the philosophy of public finance, financial analysis and planning techniques, theories of budgeting and budget as a mechanism for planning and control, accounting and auditing in the public sector, government responsibility for capital facilities planning, etc. The course will also look at the contemporary issues in public budgeting and financial management, and how they interface with public management drawing on comparative regional and international experiences, as available and appropriate.

Credit Hours : 3

Course Learning Outcomes

1. Understand the principles of public finance and budgeting.
2. Compare different theories and approaches of budgeting in the public sector.
3. Recognize the ethical dimensions of public finance and budget issues.
4. Evaluate the theoretical and practical implications of the government's budgeting in a fast changing world.

UAE in the Global Business Environment (ECON605)

Deeper global economic integration is a key strategic goal for the UAE and is seen as a catalyst for the UAE’s sustainable economic development. This course will provide students with an in depth understanding of how international business issues affect the UAE and how the UAE is positioning itself in the global economy. The course will provide a clear framework for understanding the process of globalisation, international transactions, financial issues, global economic trends and their significance for UAE organisations, as well as how government policy is facilitating the UAE’s deeper integration into the global economy.

Credit Hours : 3

Course Learning Outcomes

1. Analyse International Business And Economic Trends And Events In Relation To The Uae And Its Organisations.
2. Describe The Processes Of Economic Integration Through Examining International Trade, Investment, Financial Market Integration And Foreign Exchange Markets, In Both Individual And Team Work Settings.
3. Explain, And Give Examples Of, The Role Of Government Policies In Influencing The Uae’S Global And Regional Economic Integration And Interpret The Uae’S Economic Goals As Laid Out In Their Strategic Plans.
4. Identify And Analyse Key Strategic Sectors Of The Uae Economy Which Are Driving The Uae’S Global Integration.
5. Identify, And Give Examples Of, The Forces Driving A Nation’S Competitiveness And Recognize International Benchmarks Of Competitiveness.
6. Recognize The Importance Of Globalization And Regional Integration, And Evaluate Its Potential Impact On The Uae And Its Organisations Using Business Analytical Frameworks In Both Oral And Written Communication.

HR & Personnel Economics (ECON610)

This course applies economic analysis to the study of human resource management issues. In particular, it focuses on the economic rationale for formulating specific personnel strategies and policies such as those related to incentive systems to enhance performance and stimulate innovation within organizations. The course covers the key topics of personnel economics within five aspects of employment relationships: incentives, matching firms with workers, compensation, skill development, and the organization of work. In each of these aspects, the course aims at bringing valuable cutting-edge economics research findings and case studies to managers which can help them develop a deeper understanding of human resource issues and tradeoffs in the complex business environment of today. The course starts by studying firms’ hiring decisions and how the job offer can be structured to improve the effectiveness of recruiting under imperfect information and the presence of search costs. So, we study the latest research on matching firms with workers under asymmetric information and the firm’s decision to investment in workers’ skills and human capital. We then study issues related to job design and the economics of teamwork. The course then moves to a central issue in personnel economics: incentives and encouraging employees’ efforts. In this we critically analyze the trade-off between risk and incentives, performance evaluation, rewarding performance and compensation models. Lastly, the course considers benefit design issues.

Credit Hours : 3

Course Learning Outcomes

1. Critically Analyze The Effects Of Pay-For-Performance And Compensation Models On Productivity.
2. Design Effective Hiring Strategy In The Presence Of Search Costs And Employer-Worker Asymmetric Information.
3. Identify And Evaluate The Rationale For Teamwork And Its Impact On Productivity For Effective Job Design.
4. Identify The Tradeoffs Between Effort And Risks In Designing Incentive Systems.
5. Propose Effective Performance Incentives When Part Of The Effort Is Not Contractible.

Managerial Economics (ECON651)

This course covers the essential principles and tools of Managerial Economics. The course examines the principles of microeconomics, and illustrates how they apply to managerial decision-making. Students who master this material will be better prepared for leadership positions in business, not-for-profit, and government entities. The first part of the course discusses basic economic concepts such as supply, demand and costs. We move from these basic concepts to studying how firms behave when they have market power. Topics include differences between perfectly and imperfectly competitive markets, optimal pricing for firms with monopoly power, and the use of advanced pricing such as bundling and versioning to capture value. The final section of the course focuses on advanced topics in market analysis. These include the role of externalities and imperfect or asymmetric information.

Credit Hours : 3

Course Learning Outcomes

1. Use graphical tools to analyze economic interactions and outcomes.
2. Apply mathematical skills to provide solutions and recommendations to managerial economic problems.
3. Demonstrate managerial economics knowledge in the areas of consumer and firm behavior analysis, competitive market structure, and macroeconomic activity.
4. Analyze management related ethical issues through case studies.
5. Demonstrate presentation skills using case study analysis.
6. Construct policy recommendations at the microeconomic and the macroeconomic level.

Economics for Management (ECON655)

This course focuses on managerial applications of key macroeconomic and microeconomic principles pertaining to market competition, the national economy, and global markets. The course examines how an understanding of micro and macroeconomic fundamentals can help enhance managerial decision making. It aims to foster an economic way of thinking in making complex managerial decisions, especially in situations of incomplete information. The first part of the course discusses concepts related to microeconomics, such as supply, demand, and production costs. The course then moves to studying how firms behave when they have market power. Topics include differences between perfectly and imperfectly competitive markets, optimal pricing for firms with market power, and the use of advanced pricing strategies to capture value. The second part of the course focuses on macroeconomic concepts, specifically related to open economies, providing a clear framework for understanding the process of economic and financial globalization and their significance for multinational businesses.

Credit Hours : 3

Prerequisites

• STAT511 or STAT202

Course Learning Outcomes

1. Analyze the market structure and the business environment in which a manager operates for the purpose of making informed business decisions.
2. Assess consumer and firm behavior, in a complex global and domestic market environment, as input for the development of business strategies
3. Apply economic tools and concepts to a wide range of strategic business decisions in response to changing macroeconomic policies and global supply and demand conditions.
4. Evaluate the importance of Globalization and regional integration, and its potential impact on the UAE and its organizations using business analytical frameworks.