The Bachelor of Social Science in Economics program provides students with a comprehensive understanding of the principles and practices of economics. The program is designed to equip students with the skills and knowledge needed to analyze and solve real-world economic problems.
The program aims to produce well-rounded graduates who are equipped with the skills and knowledge needed to succeed in the ever-changing global economic environment. The curriculum covers a wide range of topics within the field of economics, including micro and macroeconomics, econometrics and data analysis. Students will also study current economic issues and policy debates such as international trade, development economics, environmental economics etc. The program also allows students to take elective courses which allows them to tailor their education to their individual career goals.
Graduates of the program have gone on to successful careers in research, international development organizations, finance, banking, non-government organizations, consulting and academia, both at home and abroad.
Graduates of the undergraduate economics program at BRAC University have a wide range of career and further study opportunities available to them. Many graduates go on to work in the financial and banking sector, as well as in government and non-governmental organizations. Some graduates also choose to pursue further education, such as a master's degree or beyond in economics or a related field, at universities both in Bangladesh and abroad. Overall, BRAC University economics graduates are well-prepared for a variety of career paths and have many opportunities available to them.
"While many universities provide a framework, language, and space for analysis, BRAC University, particularly ESS, excels in imparting among its students how to take action by integrating sociopolitical realities into their education. This is thanks to the diverse faculty body who devote their ongoing work to developing the critical consciousness of students, implicitly ingraining the crucial facets of re-constructing narratives of what is ‘right’ and ‘just.’ This trait continues to have many domino effects on my career and life." -- Adnan M.S. Fakir, PhD, Lecturer (Assistant Professor) in Economics, BSc Economics Course Director, University of Sussex Business School, Brighton, UK
RECOMMENDED COURSES
1st Semester
ECO101
MAT101 (GenEd 1- Stream 2:Math & Sciences )
ENG 101 / ENG 102 *(GenEd 2- Stream 1: Writing)
STA101 (GenEd 3- Stream 2: Math & Sciences)
2nd Semester
ECO102
ECO201
ECO202
GenEd 4- Stream 3: Arts and Humanities
3rd Semester (RS)**
HUM103 (GenEd 5- Stream 3: Arts and Humanities)
EMB101 (GenEd 6- Stream 4: Social Sciences)
ENG 102 / ENG 103 * (GenEd 7- Stream 1: Writing)
BNG103
(GenEd 8- Stream 3: Arts and Humanities)
4th Semester
ECO206
ECO207
ECO303
GenEd 9- Stream 4: Social Sciences
5th Semester
ECO208
ECO209
ECO310
GenEd 10- Stream 5: CST
6th Semester
ECO311
ECO308
GenEd 11
(Elective 1)
GenEd 12 (Elective 2)
7th Semester
ECO432
ECO324
Program/ Open Elective 1
GenEd 13 (Elective 3)
8th Semester
ECO309
ECO431
Program/ Open Elective 2
Program/ Open Elective 3
9th Semester
Program/ Open Elective 4
Program/ Open Elective 5
Program/ Open Elective 6
Program/ Open Elective 7
10th Semester
Program/ Open Elective 8
Program/ Open Elective 9
Program/ Open Elective 10
Program/ Open Elective 11
The undergraduate Economics curriculum (BSS in Economics) consists of general education courses, non-major area courses, major area courses and elective courses. A student may also be required to take non-credit, remedial courses in English and Mathematics to make up his/her deficiencies. The areas, number of courses and credit hours required for graduation are given below:
Areas |
No. of Courses |
Credit Hours |
General Education |
13 |
39 |
Core Courses |
16 |
48 |
Electives |
11 |
33 |
Total |
40 |
120 |
ECO 101: Introduction to Microeconomics
Objectives: This is the first course in Microeconomics for students of Economics major. This course is also required for BBA major students as an introduction to Microeconomics. The aim of the course is to provide a non-technical introduction to the basic microeconomic theory.
Topics: Basic concepts in Economics; Absolute and Comparative advantage, Gains from Specialization and Trade; Supply and Demand Analysis; Consumer Choice; Production and Cost Analysis; Theories of the Firm: perfect competition, monopoly, monopolistic competition, oligopoly; Theory of Distribution and Welfare Economics; Government Intervention and Policies.
Prerequisite: MAT101
ECO 102: Introduction to Macroeconomics
Objectives: This is the first course in Macroeconomics for students of Economics major. This course is also required for BBA major students as an introduction to Macroeconomics. The aim of the course is to provide a non-technical introduction to basic macroeconomic theory.
Topics: National Income Accounting; Growth, Unemployment and Inflation; Determination of Income and Output; Money Market and Interest Rate; Role of Government, Monetary and Fiscal Policies; International Macroeconomic Issues.
Prerequisite: ECO101
ECO 201: Mathematics for Business and Economics
Objectives: The objective of this course is to provide an introduction to mathematical tools and techniques that are frequently used in microeconomics, macroeconomics, finance, and operations.
Topics: Introduction to Business and Economic models; Sets and Functions; Linear models, Matrix operations and Systems of linear equations; Mathematics of Finance; Differentiation and Applications; Introduction to Unconstrained and Constrained Optimization; Introduction to Linear Programming: Graphical Approach.
Prerequisites: MAT101/ MAT105/ MAT110, ECO101
ECO 202: Statistical Methods for Business and Economics
Objectives: The objective of this course is to provide an introduction to statistical methods and their applications in economics and business. The course also introduces statistical software packages for practical applications.
Topics: Probability and Mathematical Expectation; Probability Distributions: Binomial, Poisson and Normal Distributions; Sampling Theory; Statistical Inference and Hypothesis Testing; Regression and Correlation Analysis; Non-parametric Tests; Introduction to Decision Theory.
Prerequisites: STA101
ECO 206: Intermediate Microeconomics I
Objectives: This is the first course in a two-course intermediate microeconomics sequence. The course begins with a detailed treatment of consumer theory. A strong emphasis is placed on building a framework which can be used to analyze how changes in prices affect consumer welfare. The course then goes on to look at market equilibrium and its relevance to a number of interesting policy issues. Following this, the standard theory of the profit maximizing firm and their applications is developed. Compared to an introductory microeconomics course, expect topics covered in this course to be much more rigorous including a mathematical application of relevant topics. As such, a certain level of mathematical competence is necessary.
At the end of the semester, students will have an understanding of intermediate microeconomic principles and policy issues; learn a set of analytical tools and skills required for the study of economics at a more advanced level and how to apply mathematical optimization principles in microeconomics;
Topics: Markets; budget constraint; preferences; utility; optimal choice; demand; revealed preference; income and substitution effects; buying and selling; consumer’s surplus; market demand; equilibrium; technology and the theory of the firm; profit maximization; cost minimization; cost curves; firm supply as well as industry supply.
Prerequisites: ECO101, ECO201
ECO 207: Intermediate Macroeconomics I
Objectives: This course provides a thorough understanding of the basic macroeconomic theory developed in Eco 102at a more rigorous level. In some instances the course will examine the same topic encountered in the introductory course but in greater detail and a more formal manner. This course will provide an overview of macroeconomic issues: the determination of output, unemployment, interest rate, inflation. The issues will be analyzed on the basis of equilibrium conditions in the three sets of markets: the goods market, the financial market and the labor market. The course will also cover closed economies.
Upon completion of this course students will be able to apply economic theories and models to understand a variety of real world macroeconomic issues. Students should also be able to think critically, using what they have learned in trying to comprehend society’s decisions and choices.
Topics: An introduction to macroeconomics, the goods market: demand for goods, investment – saving equality; the financial markets: demand for money, interest rates, monetary policy and open market operations; the IS-LM model: market equilibrium ; policy mix; the labor market: the ad-as model: aggregate supply , aggregate demand, equilibrium in the short run and in the medium run; policy implication; unemployment and the Phillips curve: inflation, nominal money growth: output, unemployment and inflation - effects of money growth; the facts of growth: aggregate production function, returns to scale, sources of growth; technological progress and growth: effects of saving rate; technological progress: productivity and the natural rate of unemployment.
Prerequisites: ECO102, ECO201
ECO 208: Intermediate Microeconomics II
Objectives: This is the second of the intermediate microeconomics course sequence; it aims to build on your understanding of micro- economic theory from ECO206. Part of the material to be covered has already been seen in the introductory microeconomics course. However, the treatment in this course will be much more rigorous, both mathematically and intuitively. The main topics to be covered include monopoly, oligopoly, game theory, risk and uncertainty, and general equilibrium. The main topics to be covered include monopoly, oligopoly, game theory, risk and uncertainty, and general equilibrium.
Upon completion of the course students should be adequately prepared to tackle microeconomics classes in graduate programs. Students should also be able to think critically, using what they have learned in trying to comprehend society’s decisions and choices.
Topics: Game Theory: simultaneous and repeated games, sequential games, oligopoly; risk and uncertainty: the expected utility hypothesis and risk aversion, gambling and buying insurance; asymmetric information: moral hazard and adverse selection, market for insurance and the market for lemons, signaling and incentive schemes; market forms: perfectly competitive industry, monopoly and monopolistic competition; general equilibrium: exchange and production; pareto optimality; welfare economics: fundamental theorems of welfare economics, aggregation of welfare and social welfare functions and utility possibilities set and welfare maximums
Prerequisites: ECO206
ECO 209: Intermediate Macroeconomics II
Objectives: This is the second course in the intermediate macroeconomics sequence for economics majors and minors. It consolidates and extends the knowledge acquired in ECO207 to encompass a range of additional topics.
This course provides students a comprehensive exposition to modern macroeconomic theory; and the tools necessary for understanding contemporary economic events.
Topics: Expectations: money growth, inflation, nominal and real interest rate; financial markets including the stock market, consumption and investment; output and policy: monetary policy, expectation, and fiscal policy; openness in goods and financial markets, balance of payment, domestic & foreign assets, interest rates & exchange rates; the goods market in an open economy, IS relation - equilibrium output and the trade balance, implication of fiscal policy: depreciation, the trade balance and output the J- curve; interest rate, and the exchange rate; domestic and foreign bonds; goods and financial market together - the effects of policy in an open economy; exchange rate regimes; depressions and slumps; budget deficit and the money , hyperinflation and economic activity; policymaking, uncertainty and policy, as well as expectation and policy.
Prerequisites: ECO207
ECO 303: Introduction to Econometrics
Objectives: The objective of this course is to equip the students with basic econometric tools for economic data analysis. Students are required to do a small empirical research project using econometric software packages.
Topics: Review of Expectations, Probability Distributions, Sampling and Hypothesis Testing; OLS regression analysis: Two-Variable and Multiple Regression; Inference, Hypothesis Testing and Forecasting; General Linear Models and Dummy Variables; Multicollinearity, Heteroscedasticity and Serial Correlation; Specification Errors and Instrumental Variables; Introduction to Limited Dependent Variable Models.
Prerequisites: ECO202
ECO 308: International Trade
Objective: This course provides an introduction to international trade theories and policies.
Topics: Theories of absolute and comparative advantages; Heckscher-Ohlin and Factor Price Equalization Theorems; Offer Curves and Gains from Trade; Economies of Scale and New International Trade Theories; Industrial-Organization based trade models; The theory of protection; Export promotion & import substitution policies; Custom Unions, Regional cooperation, WTO.
Prerequisite: ECO208, ECO209
ECO 309: Public Finance
Objectives: This course provides a survey of the analysis of government expenditure and taxation policies in an economy.
Topics: Review of Welfare theorems, Efficiency and Equity; Analysis of Public Goods; Theory of Externalities and Corrective Taxes; Social Insurance Programs such as Social Security; Theory of Taxation, Tax Incidence and Optimal Taxation; Tax policy and expenditure policy analysis of fiscal system in Bangladesh; Expenditure and revenue policies and incidence of expenditure.
Prerequisites: ECO208, ECO209
ECO 310: History of Economic Thought
Objectives: This course provides an introduction to the history of economics thought.
Topics: Birth of political economy; Mercantilism and Classical economics: Smith, Malthus, Ricardo, Mill; Socialist thought and Marx; Marshall and the Marginal Revolution; Keynes and the Keynesian revolution; Neoclassical synthesis and economic growth; Theory of general equilibrium and welfare economics; Value, distribution and role of the state.
Prerequisite: ECO206, ECO207
ECO 311: Economic Growth and Development
Objectives: This course provides an introduction to Micro and Macroeconomic theories of economic growth and their development aspects.
Topics: Nature of underdevelopment; Alternative growth theories; Dualism; Population, Human Capital and Development; Agriculture and development; Development and the environment; MNCs, FDI, Foreign assistance and debt.
Prerequisites: ECO206, ECO207
ECO 324: Bangladesh Economy
Objectives: This course analyzes the economic features and macroeconomic performance of the economy of Bangladesh.
Topics: Sectoral development and analysis of sectors in a general equilibrium framework; Agriculture, industry, service sectors in Bangladesh; Foreign trade and foreign aid; Financial institutions and monetary management and fiscal policy; Technology and human resource development; Role of NGOs; Long term performance of Bangladesh.
Prerequisites: ECO206, ECO207
ECO 431: International Finance and Economic Policy
Objectives: The course provides an introduction to international monetary and financial system.
Topics: Balance of payments, economics and accounting; Partial and General equilibrium models of exchange rate determination; Interest rate parity and purchasing power parity theory; Role of monetary and fiscal stabilization policies in open economies; International debt problems; Role of international financial institutions in developed and developing economies.
Prerequisites: ECO208, ECO209
ECO 432: Money and Banking
Objectives: This course provides an introduction to the monetary and financial structure of the economy and the operation of the banking sector.
Topics: Role of money in the economy and its impact on output, employment, and prices; Types of financial assets and their uses, stock and bond markets; Money and credit multipliers; Banking system of Bangladesh; Various monetary policies and their effectiveness; Central banking, credibility, rules, discretion.
Prerequisites: ECO208, ECO209
Along with the core courses in Economics, the students also need to take Economics elective courses in various other fields of economics like international economics, development economics, public economics, monetary and financial economics, environmental economics, etc, for further understanding of the subject. These elective courses are broadly divided into the following areas in economics: Microeconomics, Macroeconomics, Quantitative Methods, International Economics, Monetary and Financial Economics, Public Economics, Agriculture, Resource and Environmental Economics, Development Economics and Economic Growth and other special topics.
ECO 301: Microeconomic Analysis
Objectives: The objective of this course is to provide an advanced treatment of standard microeconomic theories. The course is aimed at students who are planning to pursue graduate studies in economics.
Topics: Review of Linear Algebra and Optimization Theory; Technology and Production, Profit and Cost Function, Duality in Production; Consumer Choice, Duality in Consumption, Measurement of Welfare; Competitive Markets and Introduction to General Equilibrium; Information Economics and Applications.
Prerequisites: ECO208 (or permission of instructor)
ECO 302: Macroeconomic Analysis
Objectives: The objective of this course is to provide an advanced treatment of standard macroeconomic theories. The course is aimed for students who are planning to pursue graduate studies in economics.
Topics: Review of dynamic programming models; Growth Theories without technological progress; Technological progress and new growth theories; Introduction to business cycle models; Expectation and information models; New Keynesian models of imperfect competition.
Prerequisites: ECO209, ECO201 (or permission of instructor)
ECO 304: Agricultural Economics
Objectives: The course provides a survey of key problems in agricultural economics.
Topics: Introduction of agriculture as an industry; Economics of agricultural production, farm management; Land economics, rural organization; Agricultural credit and finance; Agricultural marketing; Agricultural law, agrarian reform and agricultural policies; Agricultural prices and government policy.
Prerequisites: ECO208, ECO209 (or permission of instructor)
ECO 305: Labour Economics
Objectives: The main objective of the course is to provide a survey of key issues in contemporary labour economics.
Topics: Theory of labour demand and supply; Neoclassical theories of wage and employment; Labour market structure; Government intervention and minimum wage laws; Effect of social insurance and welfare programs; Labour unions and collective bargaining; Turnover and Search theories; Discrimination and unemployment.
Prerequisites: ECO208, ECO209 (or permission of instructor)
ECO 306: Urban Economics
Objectives: This course provides an introductory economic analysis of selected urban management problems in the context of the regional economy.
Topics: Location and growth of cities; System of cities & urban hierarchy; Economics of urban management; Management of urban environment and waste management; Structure of the urban government and Policy issues; Local taxes, urban enterprise zones, urban land and housing policies; Anti-poverty policies and social cost & benefit of externalities.
Prerequisites: ECO208, ECO209 (or permission of instructor)
ECO 307: Mathematical Methods for Economics
Objectives: Development of higher-level mathematical applications in economics.
Topics: Introductory Linear Algebra-Matrices, Eigenvalues, Vector Spaces; Comparative Static analysis and applications; Non-Linear Programming: Optimization with inequality constraints; Integration, Differential equations and their application to economics; Introduction to Dynamic programming.
Prerequisites: ECO201(or permission of instructor)
ECO 312: Cost Benefit Analysis
Objectives: The main objective of this course is to analyze project choice, institutional framework, and cost & benefit analysis for project evaluation. It also covers measuring the profitability of a project under different goals-framework of project proposal, logical framework analysis, project monitoring.
Topics: Measuring consumer and producer surplus; Economic concepts of cost and benefits; Investment criteria and discount rate; Financial internal rate of return, economic internal rate of internal; Shadow prices and Social discount rate; Introducing risk and uncertainty; Valuation of non-market costs and benefits.
Prerequisites: ECO208, ECO209 (or permission of instructor)
ECO 313: Environmental and Resource Economics
Objectives: This course introduces the key problems in natural resource and environmental economics.
Topics: Economic, cultural, social, and political aspects of human population dynamics; Food resources, food security and hunger; Mineral and energy resources; Wilderness and wildlife resources; Air, land and water pollution; Toxic waste management from environmental and conservation viewpoints.
Prerequisites: ECO208, ECO209 (or permission of instructor)
ECO 322: Gender and Development
Objectives: The course is designed to examine gender discrimination & gender equality as it relates to economic development.
Topics: Gender and development; Theoretical models of women's participation in economic activities; Valuation of household work by women; Education, Wage differentials, occupational segregation, labour force participation and difference in men's and women's professions; Economics of child care; Strategies for improving women's economic options; NGO activities involving women's participation in development.
Prerequisites: ECO208, ECO209 (or permission of instructor)
ECO 323: Health Economics
Objectives: This course provides an introduction to the economics of the health care sector and examines contemporary policies issues.
Topics: Welfare economics of health as a commodity; Management of health care system; Design and financing of health insurance; Medical manpower and human capital; Role of competition in health care market; Effects of government regulations; Health services and the non-profit sector; Empirical studies of demand and supply of health care services.
Prerequisites: ECO208, ECO209 (or permission of instructor)
ECO 325: Political Economic Analysis
Objectives: The objective of this course is to provide an economic analysis of the formation and operation of government and state.
Topics: Definition and Scope of Political Economy; Domestic and International Dimensions of Political Economy; History of Political Economy; Decentralization and Privatization; Governance issues in Political Economy; Political Economy and Economic Development; Globalization, Regionalism and National Autonomy; MNCs, Labour and Capital Movement.
Prerequisites: ECO208, ECO209 (or permission of instructor)
ECO 331: Corporate Economics and Finance
Objectives: This course provides an advanced analysis of monetary and financial economics.
Topics: Various models of demand for money-transactions cost model, portfolio models; Detailed modeling of the money supply process and financial theories; Portfolio models of asset demand-CAPM and other models; General equilibrium analysis of a monetary economy; Analytical study of financial institutions, financial markets and instruments.
Prerequisites: ECO208, ECO209 (or permission of instructor)
ECO 401: Research Methods in Economics and Social Sciences
Objectives: Introduction and application of various tools and techniques of research in Economics and Social Sciences. This course also involves preparation and presentation of independent seminar papers.
Topics: Purpose of scientific research; Features & scope and limitations of research; Classification of scientific research; Formulating research ideas and proposal development; Sampling design and methods; Data collection techniques and various biases in data collection; Writing guidelines.
Prerequisite: ECO303 (or and Permission of Instructor for Sociology Minor students)
NB: This course will also be offered as SOC 401: Issues and Methods of Research, with specific modules and individual research projects specifically tailored for students of Sociology Minor.
ECO 421: Welfare Economics and Development
Objectives: This course aims to provide a basic introduction to welfare theories and their various applications in economics.
Topics: Review of Efficiency and Optimality conditions; Fundamental theorems of welfare economics; Measuring welfare change-Consumer Surplus, Compensating and Equivalent Variations; Externality and Market failure; Property rights and the Coase theorem; Theory of second best and its implications for policy reforms.
Prerequisites: ECO 208, ECO209 (or permission of instructor)
ECO 422: Human Capital and Development
Objectives: The main objective of this course is to provide an understanding of the role of human capital formation and development.
Topics: Determinants of human capital accumulation; Education and economic growth & development; Intergenerational models of household utility; Market for education; Government intervention; NGOs and education services; Child labour and education.
Prerequisite: ECO208, ECO209 (or permission of instructor)
ECO 430: Econometric Analysis
Objectives: The objective of this course is to equip the students with advanced econometric techniques of economic data analysis.
Topics: OLS regression using matrix approach; GLS and FGLS estimation and Non-linear models; Model selection and Specification problems; Panel Data models; System of Equations and Simultaneous equation models; Models of Discrete choice; Dynamic equation and distributed lag models; Time series models.
Prerequisites: ECO202, ECO303 (or permission of instructor)
ECO 491: Introduction to Game Theory
Objectives: This course aims to provide a basic introduction to game theory and its various applications in economics.
Topics: Static games of complete information and applications; Dynamic Games of complete information and applications; Static and dynamic Bayesian games and applications; Asymmetric information and Signaling games; Repeated games.
Prerequisites: ECO 208, ECO209 (or permission of instructor)
ECO 492: Advanced Mathematical Economics
Objectives: This course provides an introduction to the advanced mathematical tools used in advanced economic theory. The course is aimed for students who are planning to pursue graduate studies in economics.
Topics: Introduction to Real Analysis and Set Theory; Introduction to Topological spaces; Functions, Sequences and Continuity; Linear Spaces; Compactness and Connectedness; Fixed Point Theorems; Applications in Economic Theory.
Prerequisites: ECO307 (or permission of instructor)
ECO 493: Industrial Organization
Objectives: This course aims to provide an introduction to theory of organization of markets and firms.
Topics: Organization of the firm; Monopoly and price discrimination; Oligopoly, monopolistic competition; Product selection and advertising; Patent and R & D policies; Public and Social enterprises; Focus on public policy issues in industrial organizations.
Prerequisites: ECO 208, ECO209 (or permission of instructor)
ECO 494: Open Economy Macroeconomics
Objectives: The main objective of this course is to discuss advanced theory and policy regarding international economic issues.
Topics: International mobility of saving and investment flows; International Capital market; Monetary and fiscal policy within the Mundel-Flemming model framework; Overshooting model of exchange rate; International transmission of economic disturbances; Domestic impact of international economic policies; Causes and consequences of balance of payment deficits.
Prerequisites: ECO208, ECO209 (or permission of instructor)
ECO 498: Independent Study
Prerequisite: ECO208, ECO209
ECO 499: Undergraduate Thesis
Objectives: The main objective of this course is to develop an in-depth program of research, under the direction of a senior faculty member of the department (thesis supervisor). This is a two semester long supervised thesis for the advanced undergraduate students.
Prerequisite: Permission of Supervisor