Degree of Bachelor of Science in Business and Economics with a major in Economics

The education in the programme International Economics corresponds to three years of full-time studies, comprising a total of 180 credits. In this programme the students’ major is in economics, with a minimum of 90 credits in that subject, and minor in business administration corresponding to 30 credits, as well as 30 credits of mathematics, statistics and econometrics. The programme aims to give students theoretical and practical competencies to work with economic issues, especially within the field of international economics. The programme further aims to give the knowledge and skills in quantitative methods e.g., how to analyse and process data. This programme leads to the degree Bachelor of Science in Business and Economics with a major in Economics, known in Swedish as the degree ”Ekonomie kandidatexamen i nationalekonomi”.

First level education shall essentially build on the knowledge students acquire in national or specially designed programmes at upper secondary school or corresponding knowledge.
First level education shall develop the students’
• ability to make independent and critical assessments,
• ability to independently perceive, formulate and solve tasks,
• preparedness to deal with change in working life.

In the educational field concerned, in addition to knowledge and skills, students shall develop ability to
• seek and evaluate knowledge at a scholarly level,
• follow the development of knowledge, and exchange knowledge with other people, including people without specialist knowledge of the field.

Programme specific learning goals

Knowledge and Understanding
Graduates of the programme will have a general knowledge and understanding principles in economics and business and a specialised knowledge and understanding of international economics. Graduates will also acquire knowledge and skills in data processing and data analysing.
Corresponding Objectives:
Graduates of the programme will be able to
1. demonstrate knowledge and understanding of economic principles;
2. demonstrate knowledge and understanding in business administration;
3. demonstrate knowledge and understanding of the scientific basis in economics and applicable methods;
4. demonstrate knowledge of current research issues related to international economics.

Skills and Abilities
Graduates of the programme will have acquired problem solving and analytical skills needed for a career in international economics and are effective communicators.

Corresponding Objectives:
Graduates of the programme will be able to
5. demonstrate the ability to critically discuss phenomena and issues related to international economics;
6. demonstrate the ability to, search for, gather, evaluate and critically interpret relevant information for a formulated economics problem;
7. demonstrate the ability to identify, formulate and solve problems independently within predetermined time frames;
8. demonstrate the ability to choose relevant methods for economic problems; and
9. demonstrate the ability to present and discuss problems and solutions within economics in speech and writing.

Judgement and Approach
Graduates of the programme understand the scientific, social, and ethical aspects of practical work and research in economics, including the role, use, and development of knowledge in a global environment.

Corresponding Objectives:
Graduates of the programme will be able to
10. make assessments in economics taking into account relevant scientific, social and ethical aspects;
11. demonstrate insight into the strengths and limitations of econometric tools and the responsibility of the individual for how data and results derived from them are used; and
12. identify their need for further knowledge and ongoing learning.

Mission driven
Graduates of the programme will be equipped to contribute to the advancement of business practice in a global environment, with particular emphasis on aspects of renewal and entrepreneurship.

Corresponding Objectives:
Graduates of the programme will be able to
13. Elaborate on economic renewal with regards to effects of information and public policy.
14. Elaborate on the processes involved in entrepreneurship and its role in the society.

The above is in accordance to the intended learning outcomes for a three-year Bachelor’s degree set by the Swedish Higher Education Ordinance and JIBS mission.

The combination of courses in the programme is intended to give students a strong background in theoretical and applied economics and the basics in business administration that make them successful in their future careers. All programme students study at least 30 credits in mathematics, statistics and econometrics. This gives the students a solid basis for data processing and data handling. It also provides the students with knowledge and tools used for analysing and interpreting data. More important, it gives the students skills that are highly valuable for future employers. It is becoming more and more important in the labour market not only to be able to provide statistical measures to describe the firm/organization/municipality/country, but also to analyse the statistics and make accurate conclusions and suggestions based on the material.

First semester

During the first semester the students of this programme learn the basics of the development of economic thought (Introduction to economic thought) and microeconomics (Microeconomic Principles) combined with basic knowledge in business administration (Entrepreneurship and Basic Financial Accounting).

The course Introduction to Economic Thought focuses on the origins of economic theories and their development, as well as their connection with other fields such as political science and philosophy. Among these classic theories we find the ideas of specialisation and division of labour as proposed by Adam Smith, the idea of comparative advantages and the benefits of trade suggested by David Ricardo, the foundation of what is now known as Keynesian policies as well as the role of entrepreneurship as suggested by Joseph Schumpeter. The course also introduces the contributions of Nobel Memorial Prize laureates in Economics. This course hence provides a context and an understanding of development of economics and the important interplay between economic theories and society.

The course Microeconomic Principles focuses on core principles in microeconomics, which includes consumer and producers behaviour in goods and factor markets, different market forms such as perfect competition and monopoly, the foundation of welfare theory, the cause and effect of market failure, allocation and distribution effects from public policy and externalities and their effects. This course lays the foundation in microeconomic theory and introduces the students to the core principles of microeconomics and concepts. The course also aims at giving students knowledge about mathematical principles and methods that are used to solve economic problems.

Parallel to each of the economics courses are the courses in business administration. The course Entrepreneurship introduces the student to entrepreneurship and its role in society. The course focuses on entrepreneurial actor(s) and their endeavor in the process of starting and running a venture. More specifically, entrepreneurship centers around four different and equally important areas: (1) Entrepreneurial mindset, (2) Entrepreneurial opportunity, (3) Entrepreneurial action, and (4) Entrepreneurship in context. The course immediately involves students in one of the key areas of focus at JIBS: entrepreneurship. Basic Financial Accounting aims to equip students with basic knowledge in accounting theory and practice to be applied in a business entity. As an introductory course it is designed to give an overall picture of the accounting cycle and to help students understand more advanced accounting. Important topics covered during the course include basic financial accounting concepts according to the International Accounting Standards Board (IASB), recording of selected business transactions, preparation of annual accounts and annual reports and an introduction to financial statements. Students also gain skills in Excel.

Second semester

In the second semester the students deepen and broaden their knowledge in economics as two of the four courses in the second semester are within economics (Macroeconomic Principles and International Macroeconomics and Finance). In addition to that students take a course in mathematics (Introduction to Mathematical Methods for Economic Analysis ) and a course in corporate finance.

The course Macroeconomic Principles offers a foundation for students to learn about economic theory. Integral parts of the course are the analysis of macroeconomic variables such as economic growth, inflation, and unemployment. Possibilities and difficulties to manage the economy with the aid of economic policy as well as how the open economy is affected by international developments are central to the course. In parallel the course Introduction to Mathematical Methods for Economic Analysis further prepare the students for later courses in economics, statistics and econometrics.

The course International Macroeconomics and Finance trains the student to report, explain, and discuss the core principles of economics within international macroeconomics and finance including issues of employment, national income, and investment. The course provides the students with a deeper understanding of how an economy behaves when it is open to trade and capital flows with other countries. The course is also concerned with exchange rate determination and monetary behaviour under fixed exchange rates and policies involving exchange rates.

In parallel, the course Corporate Finance I teaches students to use the right methods for making optimal financing and investment decisions. The course introduces students to the fundamental concept of the time value of money, relationship between risk and return, and short- and long-term financial planning. It builds on prior knowledge from financial accounting and statistics courses. It also stresses the importance of ethical behaviour of managers and the European corporate governance principles. The Swedish guidelines for good Corporate Governance practices have also been included into the course material. In this course students also develop their Excel skill further.

Third semester

During the third semester students deepen their knowledge in micro- and macroeconomics (Intermediate Microeconomics and Intermediate Macroeconomics). This is combined with a course in Statistics (Introduction to Statistical Methods) and a specialisation in Economics of Information and Social Choice.

In the course, Intermediate Microeconomics students learn to explain and discuss within the main fields of economics the core principles of microeconomics, which include issues of decision and choice, production and trade of goods and services, market equilibrium, market structures, efficiency, pricing and use of inputs, externalities, uncertainty and asymmetric information, and interactions between principals and agents. The course also applies the mathematical skills retrieved during the second semester.

Parallel to this course the students take Introduction to Statistical Methods which give the foundation in statistics and empirical testing where the students become skilled in presenting and summarizing data graphically, calculating elementary probabilities and testing statistical hypotheses concerning measures of centrality, as well as being introduced to basic statistical analyses and how to present statistical analyses in a readable way.

Intermediate Macroeconomics is aimed to familiarise the students with the economic analysis of aggregate phenomena such as growth and investment, employment, changes in the price level, and international linkages. Attention is paid both to the models providing formal descriptions of the phenomena and to the implications of such models from the point of view of policy and decision making in general. These course builds on the basic concepts developed in the introductory courses in micro- and macro-economics.

The course Economics of Information and Social Choice can be considered a specialisation of the microeconomics course in the beginning of this semester. This course investigates the informational aspects of markets and organisations as well as the relation between social goals and the economic mechanisms that can allow society to pursue them. The emphasis is on the incentives that economic agents face within alternative possible settings, and on the aggregation of preferences and information for the definition and the pursuit of social goals. The knowledge and skills learned in this course are highly relevant to work with topics related to analysis and strategies, also in connection with sustainability.

Fourth semester

During the fourth semester students of this programme strengthen their competences in data processing and modelling (Econometrics 1 and Econometrics 2) and continue to deepen their knowledge in international economics through the course International Trade Theory. They also take a course that connects the theoretical economics models from previous courses to real world situations (Applied Economics).

The course International Trade Theory provides the student with basic knowledge of and skills in international trade theory. The course helps the student understand the theoretical basis for the following issues: the gains from trade, how patterns of trade are determined, the effect of growth on trade, and the impact of various trade policies. The course also helps the student consider how trade theory may be applied to various real-world issues.

Applied Economics is a course that builds on the courses from previous semesters, especially semester 3, and connects their theoretical models to current issues in the society. This course bridges the gap between theory and practice and helps the students understand how they can use economic thinking and models in their future careers. The course gives students training to present and discuss problems and solutions within international economics in speech and writing.

Throughout this semester the students deepen their knowledge and skills in statistical methods that are useful for solving economic problems. Econometrics 1 give course participants fundamental knowledge about econometrics. Students enrolled in this course are equipped with statistical methods which they use to study and describe economic relationships using quantitative data. Important elements of the course include estimation of linear regression models using ordinary least squares, conditions under which ordinary least squares estimation are optimal, hypothesis testing, diagnostic tests and model selection. Econometrics 2 then deepen the student’s knowledge in econometrics. The course also gives professional skills in learning to handle and analyse datasets using different software. Topics that are covered are, for example, econometric modelling through model specification and diagnostic testing, nonlinear regression models, panel econometric models and other impact evaluation methods. This course builds on the first course in econometrics and deepens and strengthens the student’s competences within data analysing and processing, crucial for the thesis writing as well as future careers.

Fifth semester

The fifth semester consists of electives and gives the opportunity for students to build a custom- made profile with respect to the choice of university and course package. Students who go abroad during this semester are required to take courses equivalent to 30 ECTS. JIBS recommend that the studies are performed at G2F. The recommendation is to select courses within the specialization, but some complementary topics might be relevant, given students’ personal preferences and career-plans. Students are recommended to choose courses within the fields of economics, business administration, statistics, economic geography, commercial law and language. Students choose the courses at a partner university in coordination with JIBS faculty, and accreditation of the courses is also conducted by JIBS faculty. An option to international exchange is to stay at JIBS, with the same recommendation on types of courses as there are for students studying abroad. The elective semester at JIBS can include an academic internship of 15 credits as part of the course package.

Sixth semester

During the last semester of the programme students are required to write a 15-credit thesis in economics. In parallel to this, students take a course in geographical economics and a course in business administration.

The Bachelor Thesis in Economics course (15 credits) is the course where the students applies the knowledge they have learned throughout the programme and specialise in a subject of their interest. Apart from the thesis writing, it includes presentation and defense of the thesis at a seminar, opposition on another bachelor thesis, and active participation in the seminars during the semester and in the end of the semester.

Geographical Economics is a course that focus on the location of economic activity and how the geography influences patterns of trade and other economic activities. This course builds upon skills and research from the JIBS research centre CEnSE (Centre for Entrepreneurship and Spatial Economics). The students will learn about models predicting location patterns and will use them to assess the appropriateness of regional policies. This course also allows students to practice on writing and presentation skills as both written assignments and oral presentations are compulsory parts of the course.

Organizing and Leading in a Sustainable World focuses on different theoretical frames in organization and leadership. Included in this course is to appraise the importance and significance of employee motivation, human resource management, the ethics of leadership, including the ethics of AI, as well as such aspects as gender, diversity, and sustainability. As part of the course, the students work with a project on a company in which they identify and evaluate organizational and leadership issues and find innovative solutions to tackle them. These projects exhibit a rich variety of local and international contexts in which theories and models of organization, leadership and employee motivation are applied.

Course Name	Credits	Main field of study	Specialised in	Course Code
Applied Economics	7.5	Economics	G2F	JAEN13
Bachelor Thesis in Economics	15	Economics	G2E	JUNP17
Basic Financial Accounting	7.5	Business Administration	G1N	ACBG13
Corporate Finance 1	7.5	Business Administration, Economics	G1F	FSAK13
Econometrics 1	7.5	Economics	G1F	JE1K10
Econometrics 2	7.5	Economics	G2F	JE2N10
Economics of Information and Social Choice	7.5	Economics	G2F	JEIN15
Entrepreneurship	7.5	Business Administration	G1N	JESG10
Geographical Economics	7.5	Economics	G2F	JEGN16
Intermediate Macroeconomics	7.5	Economics	G1F	JMEK15
Intermediate Microeconomics	7.5	Economics	G1F	JMIK15
International Macroeconomics and Finance	7.5	Economics	G1F	ECJK13
International Trade Theory	7.5	Economics	G1F	JTTK18
Introduction to Economic Thought	7.5	Economics	G1N	JIEG19
Introduction to Mathematical Methods for Economic Analysis	7.5	Economics	G1N	JIMG12
Introduction to Statistical Methods	7.5	Statistics	G1N	JITG12
Macroeconomic Principles	7.5	Economics	G1N	JMPG14
Microeconomic Principles	7.5	Economics	G1N	JMIG12
Organizing and Leading in a Sustainable World	7.5	Business Administration	G1N	JOSG10

Course Name	Credits	Main field of study	Specialised in	Course Code
Communication in a Cross-Cultural Context 1	7.5	Business Administration	G1N	JCCG19
Economics for a Sustainable Society 1	7.5	Economics	G2F	JESN10
International Financial Management 1	7.5	Business Administration, Economics	G2F	JIFN14
Principles of Project Management 1	7.5	Business Administration	G1N	MGBG13
Internship in Economics 2	15	Economics	G2F	JINN10
The Sustainable Enterprise - Social and Ecological Perspectives 2	7.5	Business Administration	G1N	JSEG14

¹ Elective block 1
² Elective block 2

1. In Semester 5, students have options for courses either at JIBS or through exchange. The courses noted during this period are default courses at JIBS if the students do not participate in exchange or actively select other courses including an Internship in Economics

2. The course "Internship in Economics" offers students an excellent opportunity to gain practical experience of economics in an organization of their choice. It is an elective, not a default course.

2. The course "The Sustainable Enterprise – Social and Ecological Perspective" offers students a unique opportunity to gain a comprehensive understanding of sustainability in business. It is an elective, not a default course.