A short description of the courses offered in the years II to IV of B.Sc. Business Administration (Business Economics) (Special) degree programme is provided below.
BEC 2340: MACROECONOMICS
This course intends to provide students with the basic understanding of the aggregate economic system: concepts of aggregate demand and supply, national income and product measures, consumption and investment, supply side economics and its applications, the government’s role in an economy, use of fiscal, monetary, and exchange rate policies to guide the economy, employment and inflation. It also encompasses macroeconomic analysis both in a closed and open economy, income-expenditure, IS-LM model and modern approaches.
BEC 2343: MATHEMATICAL METHODS FOR ECONOMICS
Mathematical Methods for Economics, apply mathematical methods to investigate economic theories and scrutinize issues in Economics. The course permits formulation and derivation of key relationships in a theory with clarity, generality, rigor, and simplicity. This course covers economic models, linear and nonlinear models, differential calculus, integration, differential equations, matrix algebra, and continuous time models.
BEC 2344: ADVANCED ECONOMIC THEORY
This course covers advanced theories in Microeconomics and Macroeconomics. The section of the course on Microeconomics includes topics in demand and supply, theory of consumer behaviour, theory of factor pricing, asymmetric information and general equilibrium analysis. The section on Macroeconomics covers tools for building and solving macroeconomic models, with applications to growth, fiscal policy, inflation and business cycles. By the end of the course students should have enhanced their ability to understand and critically assess contemporary advanced economic theory across a broad spectrum of microeconomic and macroeconomic topics.
BEC 3340: MANAGERIAL ECONOMICS
This course provides students with an advanced knowledge on application of economic theory and decision science tools in in-firm managerial decision making. The major subject area includes demand analysis, demand estimation and forecasting, advanced production and cost analysis, market structures, game theory and strategic behaviour, pricing practices, and business and government decision making.
BEC 3341: MONETARY ECONOMICS
The course focuses on the issues of monetary policy implementation in the context of closed and open economies. It covers topics of money creation and monetary transmission mechanisms, inflation and expectations, neutrality of money. Further, it examines the term structure of the interest rates and extends discussion to the international dimension. The most important topics of open monetary economics are introduced- the interest rate and purchasing power parity conditions, the exchange rates regimes.
BEC 3342/ 4351: DEVELOPMENT ECONOMICS
The objective of this course is to provide students with a comprehensive knowledge of Development Economics that is useful in policy making and strategic business decisions. It encompasses, inter alia, areas of economic development, characteristics of developing nations, theories of economic development and growth, poverty, and income distribution. The major focus is on the Sri Lankan economy.
Note: BEC 4351: Development Economics is being offered by the department to the students of the Department of Business Administration, Entrepreneurship and Finance in the year IV, semester I.
BEC 3344: PROJECT MANAGEMENT
This course provides the students with advanced knowledge and skills on Project Management in business organizations or entirely project based organizations. This course covers the theoretical foundation of Project Management techniques, software training and practical elements of a real world projects undertaken by the students. At depth, this is the study of nine Project Management knowledge areas: project integration management, scope management, schedule management, cost management, quality management, human resource management, risk management, communication management and procurement management. In addition, the students undergo a thorough training of MS Project software (usually the latest accessible version) to be competent in meeting the challenges in the real business setup under project management.
BEC 3345: ECONOMIC THOUGHT
The primary goal of this course is to provide an insight into economic thought in order to understand the evolution of Economics. The subject concentrates on different thinkers and, at the same time traces the development of economic theories and ideas from the earliest times to the present while examining major contributions made to the field of Economics during the main periods in the history of Economics namely Pre-classical, Classical, Marginal Revolution, Neoclassical, Keynesian Revolution and Formalist economist. By the end of this course, students should be able to develop an overview of the main approaches which contribute to the historical development of economic thought and also analyse, synthesize and make a critique on economic principles and theories.
BEC 3346: FINANCIAL ECONOMICS
This course provides the students with an understanding of the principles and applications of financial markets. Further, it aims to provide comprehensive knowledge of financial markets and it is useful in business decision-making. It takes into analysis the financial system, behaviour of interest rates, risk and term structure, theories of term structures, foreign exchange market, monetary policy, interest rate risk, and exchange rate risk with an emphasis on financial institutions.
BEC 3347: LABOUR ECONOMICS
Labour Economics is a combination of both theoretical and empirical analysis of labour market dynamics, wage setting and employment determination. The specific topics to be analysed include labour force trends, education and training, wage and employment setting at the company level, unions, discrimination, labour productivity and real wages, government policy and technological change.
BEC 3348: ASIAN ECONOMICS
Asia, especially in political and economic aspects, has been one of the most important parts of the world today that makes a considerable contribution to the world economy. Therefore, this subject emphasizes the social contributions of Asian economies to world development process. The teaching and learning process include lectures, discussions, video sessions and examinations. At the end of this course, students should be able to understand the practice and trends of the development of Asia.
BEC 4340: ECONOMETRICS
This course provides students with an introduction to the theory and practice of Econometrics, and experience in estimating econometric models with actual data. The course mainly focuses on techniques for estimating regression models, on problems commonly encountered in estimating such models, and on interpreting the estimates from such models. It covers the basic econometric concepts, simple and multiple regression analysis, basic econometric problems, simultaneous-equation models, panel data regression models, and time series econometrics. The course will be taught through lectures, practical sessions and tutorials. Software packages will be used in practical sessions.
BEC 4341: RESEARCH METHODOLOGY
This course introduces a complete set of techniques and concepts in conducting a scientific enquiry. This subject is inclusive of the planning of social surveys, coverage of surveys, basic ideas of sampling, type of sample design, experiments and investigations, methods of collecting information, questionnaires, scaling methods, response errors, processing of the data, analysis, interpretation and presentation as major areas.
BEC 4342: INTERNATIONAL ECONOMICS
The aim of this unit is to provide students with an understanding of the principles and applications of International Economics, so that students will be prepared to face the future complexities of the world economy. The unit is divided into two parts International Trade and International Finance. Part one examines reasons for and consequences of international trade. This will cover the law of comparative advantage, the gains from trade, the Ricardian Model, the Heckscher-Ohlin Theory, the standard and new trade theories, tariff and non-tariff barriers and economic integration. Part two, International Finance, focuses on foreign exchange market, fixed and flexible exchange rates, balance of payments and adjustment policies, international capital mobility and international macroeconomic policy coordination.
BEC 4343: ENVIRONMENTAL ECONOMICS
Environmental Economics will consider market failure (particularly externalities and common property resources), and the economic valuation of environmental amenities such as clean air, wilderness and ecological systems. This course aims at equipping students with economic methods and tools to analyze basic environmental issues. This course combines theoretical analysis with discussions on specific environmental policies as applied to water, air pollution, energy, climate change and human health issues. In addition, the concepts of sustainability, microeconomic analysis of environmental regulation, the problem of social cost, policy instrument choice, and estimating costs and benefits of environmental improvements will be delivered.
BEC 4645: INDEPENDENT STUDY ON BUSINESS ECONOMICS
The objective of this compulsory course is to guide the students to apply the underlying principles in research methodology in Business Economics at individual, group and institutional levels. This research is an independent study carried out by an undergraduate under the supervision of an academic member or a person nominated by the Department. At the end, the undergraduates should submit the final report on or before the deadline declared by the Department.
BEC 4646: PRACTICAL TRAINING
This course intends to make the undergraduates aware of the current economic and business trends in the country and in the world, to improve professional skills, and to strengthen them with exposure to real world business. The students are encouraged to gain this training experience at the Central Bank of Sri Lanka, the Colombo Stock Exchange, Asian Development Bank, and other institutions that are directly related to the economy of the country. Additionally, training opportunities are available at different private sector organizations as well. The students are able to find training opportunities at such institutions through the established network of the Department. The evaluation scheme of this course is designed to test the ability of the students to apply theoretical and conceptual knowledge in the real work environments and to what extent they have added values to their lives through this practical training programme.
BEC 4647: SOCIAL DEVELOPMENT PROJECT
This course unit requires the students to carry out a rigorous and a comprehensive individual project which addresses a contemporary national economic issue. The projects are supervised and if required funding arrangements are made by the Department depending on the availability of such funds. This course unit covers six credits and is expected to develop the intellectual and analytical skills of the students.
Note: BEC 4646: Practical Training and BEC 4647: Social Development Project are two elective courses between which the students can select one according to their preference.
BEC 4348: MONEY AND BANKING
The course unit, Money and Banking, is designed to provide an advanced knowledge of the economic principles applied to the monetary policy analysis and to the banking system. It also examines the impact of the monetary policy on any economy with special emphasis on Sri Lanka. It covers the nature and functions of money, credit and financial markets in modern economy, central banking and effects of the interest and foreign exchange rates on the real economy.
BEC 4349: REGIONAL ECONOMICS
This course explores the importance of location in everyday choices we make from the optics of Economics: how economic activity is spread across space and implications of space in economic decision making. The course extends the traditional theoretical bases of economic analysis by introducing the regional aspects to supply, demand, and market forces. First the course will try to answer general questions such as, why do cities exist? why do people live in cities? how do firms decide where to locate? what determines the location, growth and size of a city? which policies can modify the shape of a city? Having discussed why we live in cities, the course will analyse the economic problems of living in cities. Regional and urban economies in Asia will be used as practical case studies to test the real-world potential of the theoretical bases of economics of location.
CAREER DEVELOPMENT TRAINING (Non-credit)
This is a course which provides the students with soft skills that need to be acquired by a professional. The main objective of this course is to develop an individual well-equipped with professional skills and positive attitudes. It also aims to develop a balance personality with higher social and career prospects. Methods of instruction are mainly interactive sessions, guest lectures, discussions, lectures and workshops covering areas of personal grooming, etiquette, planning self-presentation at different occasions and effective interpersonal skills. Two day Outward Bound Training Programme is one of the main events organized under this course. This career development training would be offered in two semesters as Part I, BEC 2041: Career Development Training in the year II, semester I and Part II, BEC 2045: Career Development Training in the year II, semester II. Evaluation criteria of these non-credit courses are discussed in a note below*
SPECIAL ENGLISH LANGUAGE PROGRAMME (SELP) (Non-credit)
This is a Special English Language Programme introduced by the Department for the improvement of English language competence of the students, in addition to the credit courses in the degree programme. The programme has specially been designed for the students who require further English language competence at an advanced level for communicative, academic, reference and research purposes parallel to the objectives of the Department. This is a five-semester programme which offers the course units; BEC 2001 English for Business Economics Part I, BEC 2002 English for Business Economics Part II, BEC 3001 English for Business Economics Part III, BEC 3002 English for Business Economics Part IV and BEC 4001 Academic Writing for Business Economics. Evaluation criteria of these non-credit courses are discussed in a note below*
BEC 2001: English for Business Economics Part I
The BEC 2001 course on English for Business Economics is designed with the aim of enhancing the four competency skills of reading, listening, writing and speaking skills of the students in the field of Business Economics. The courses have been formulated according to the UTEL Benchmark band of 6, which will develop the skills of the students to comfortably reach the benchmark band of 7, thus the course will proceed in a gradual and an incremental manner. The courses of BEC 2001 and BEC 2002 would provide the students the opportunity to develop their English language skills while gaining increased confidence and competence in social and professional contexts. The courses will cover the areas of vocabulary, grammar, reading comprehension, presentation skills, letter writing, summarizing, business correspondence and preparation for a meeting/interview.
BEC 2002: English for Business Economics Part II
The BEC 2002 course on English for Business Economics is an extension of the skills based learning series formulated for the first year. By the end of the respective course, the students will be expected to have been equipped with the competency of reaching UTEL band of 8. In BEC 2002 the course will concentrate on more advanced proficiency of the four skills of writing, speaking, listening and reading. In addition to the proficiency of the four skills, their presentation skills and confidence would also be boosted accordingly. This course will cover a more advanced level of grammar, reading comprehension, business correspondences etc.
BEC 3001: English for Business Economics Part III
This course is an extension of BEC 2001 and 2002 Courses. This is designed with the intention of further enhancing reading, writing, listening and speaking, skills of students in the field of Business Economics and this has been formulated according to UTEL Benchmark Band 8. This course focuses on level-appropriate grammar, vocabulary specific to various business domains, reading comprehensions related to field of business, presentation skills, letter writing skills and summarizing skills. This course also aims to familiarize students with finer points of business etiquettes and business correspondence. These aims will be achieved through a series of lectures conducted weekly within the semesters developing proficiency of students in Business English.
BEC 3002: English for Business Economics Part IV
This course is a further extension of the skills based learning series of BEC 3001 and formulated according to UTEL Benchmark Band 9. This is designed with the intention of improving students’ English proficiency in core areas such as reading, writing, listening and speaking, while reviewing key areas of Business Economics. This course focuses more on advanced professional writing and speaking skills which will allow them to face the English-speaking business world with confidence and in an assertive manner. Sharpening the reading and listening skills are also focused in this series of lectures through advanced materials from real business world.
BEC 4001: Academic Writing
The course unit aims to give the students a concise knowledge of writing dissertations at the Bachelor’s degree level. The course focuses on providing them the necessary writing skills, as well as referencing and note taking skills required for the successful compilation of dissertation paper writing. The course structure focuses on exploring accurate referencing methodology, evaluating text, elements of writing with the intention of helping them maximize their academic writing and research competency.
Evaluation Criteria for Non-credit Courses
* Students belonging to the batches 2014/15 onwards will be given either a Pass or a Fail for each of the non-credit courses. Since these are soft skills enhancing courses, evaluation and assessments would be done in numerous ways including; role plays, creative work pieces, presentations, workshops, attendance, oral tests, paper based tests etc. Students should obtain more than 40% from the overall marks in order to earn a pass. Furthe