On completion of the course the student will be able to:

1. Explain core concepts in economics in a deeper and more nuanced manner, enumerate key assumptions underpinning economic models, and account for how these assumptions deviate from real world conditions.
2. Describe and compare different public policies options using key concepts from economics.
3. Relate economic concepts and arguments to issues as they arise in public debates, business discourse, and the public media, e.g., the Economist or Wall Street Journal.

4. Design a research strategy that applies economics models and concepts to real world problems and policies explain the implications when common economic modeling assumptions are not met.
5. Carry out a research strategy, analyze data by integrating and applying concepts learned in statistics, econometrics, and other economics courses.
6. Explain economic concepts and interpret the analysis for a business or lay audience.
7. Discuss research results in a clear and concise manner to inform a public policy or business decision.

8. Reflect about how economic decisions are ubiquitous in everyday life, and how economic conditions and policies effect, not only their personal and professional lives, but outcomes for society in general.
9. Criticize when economic decision making or methods have been misapplied, propose alternative policies and what economic principles or theories justify those policy alternatives.
10. Hypothesize how currents events and issues will impact future socioeconomic outcomes.

The purpose of economics is to understand how individuals and firms make choices and how those decisions shape our economy and our society. Real world applications and data rarely meet all the rarified assumptions present in economic models of competitive markets encountered in textbooks, however the application of the concepts and tools from economics to real world decision making are key to improving decision making and policy outcomes. This course introduces students to the application of economic concepts and tools to reveal how markets work, inform individuals and firms on decision making, and measure the impact of decisions on public economic welfare.

Connection to Research and Practice
An important goal of this course is to bridge economic theory and its application to real world phenomena. This course will incorporate JIBS research and connect this with external researchers’ and business professionals’ research and experience using economic models and analysis to address socio-economic problems, questions, and policies. The course also seeks to foster partnerships with faculty, external researchers, firms, and business professionals to promote real world engagement on economic problems and analysis. Through the course work students strengthen their practical skills to use economics as a tool to analyze a broad range of issues relevant for societal development.

This course is based on a series of lectures, seminars, and group work.

The teaching is conducted in English.

General entry requirements and 60 credits in Business Administration or Economics including one course in microeconomics, 7.5 credits and one course in macroeconomics, 7.5 credits.

The course is graded A, B, C, D, E, FX or F.

The ILOs listed above are assessed through the following types of examination:
Individual assignment(s) (ILOs 1, 2, 3, 7, 8, 9, 10) representing 4 credits.
Group assignment(s) (ILOs 1, 2, 3, 4, 5, 6, 7) representing 3.5 credits.

Name of the Test	Value	Grading
Individual assignment(s)1	4 credits	A/B/C/D/E/FX/F
Group assignment(s)1	3.5 credits	A/B/C/D/E/FX/F

¹ All parts of the compulsory examination in the course must be passed with a passing grade (A-E ) before a final grade can be set. The final grade of the course is determined by the sum total of points for all parts of the examination in the course (0-100 points). Grade is set in accordance to JIBS grading policy.

It is the responsibility of the examiner to ensure that each course is evaluated. At the outset of the course, the programme evaluators in the course must be contacted. In the middle of the course, the examiner should meet the programme evaluators to identify strengths/weaknesses in the first half of the course.
At the end of the course, the examiner should remind students to fill in the survey. The examiner should also call a meeting with the programme evaluators to debrief the course, based on course evaluation data and comments. The next time the course runs, students should be informed of any measures taken to improve the course based on the previous course evaluations.
At the end of each study period, JIBS’ Director of Quality and Accreditation crafts a “Course Evaluation Quarter Report”, presenting the quantitative results from course evaluation surveys. The Associate Dean of Education, The Associate Deans of Faculty, Programme Directors, and JSA President and Quality receive the report.

Academic integrity
JIBS students are expected to maintain a strong academic integrity. This implies to behave within the boundaries of academic rules and expectations relating to all types of teaching and examination.

Copying someone else’s work is a particularly serious offence and can lead to disciplinary action. When you copy someone else’s work, you are plagiarising. You must not copy sections of work (such as paragraphs, diagrams, tables and words) from any other person, including another student or any other author. Cutting and pasting is a clear example of plagiarism. There is a workshop and online resources to assist you in not plagiarising called the Interactive Anti-Plagiarism Guide.

Other forms of breaking academic integrity include (but are not limited to) adding your name to a project you did not work on (or allowing someone to add their name), cheating on an examination, helping other students to cheat and submitting other students work as your own, and using non-allowed electronic equipment during an examination. All of these make you liable to disciplinary action.

There is no assigned primary text for this course.
A list of articles and readings will be supplied at the course introduction.
Recommended: Students may frequently desire to refer to the textbooks from prerequisite microeconomics and macroeconomics courses.