Global Economics - Junior

Course # ECON  3003

Credits 6

Prerequisites and/or Corequisites: Econometrics I

Course Description

Econometrics II extends the cross-sectional regression methods studied in Econometrics I to panel data, endogenous regressors, limited dependent variables, and time series. The course emphasizes the connection between an economic question, the data structure, the assumptions required for identification, the choice of estimator, and a transparent interpretation of results. Students learn through lectures, guided empirical exercises, problem sets, and a semester-long group research project using real data and reproducible statistical code.

Course Learning Outcomes

Upon the completion of the course, students will be able to:

• distinguish pooled cross sections, panel data, and time-series data and select methods appropriate to each structure;
• estimate and interpret first-difference, fixed-effects, random-effects, instrumental-variables, and two-stage least-squares models;
• explain identification assumptions and diagnose threats from omitted variables, simultaneity, measurement error, and invalid instruments;
• estimate and interpret binary-response and related limited dependent-variable models and recognize sample-selection concerns;
• model trends, seasonality, serial correlation, dynamic effects, unit roots, and basic forecasting relationships in time-series data;
• use heteroskedasticity-, cluster-, and autocorrelation-robust inference appropriately;
• conduct a reproducible empirical study and communicate its design, results, limitations, and conclusions in professional written and oral form.

Course Assessments and Grading

Course # ECON 3004

Credits 6

Prerequisites and/or Corequisites: “Introductory Macroeconomics” and “Intermediate Macroeconomics”

Course Description

The International Economics: Trade, Theory and Policy course offers a comprehensive overview of the so called "real" or trade part of international economics. The course examines the causes and consequences of international trade, as well as provides an analysis of trade policy. Questions addressed include, but are not limited to: Why do nations trade? Who gains and who loses from trade? Is free trade optimal, or should be restricted in some cases? Should countries intervene to influence the structure of their international trade?

This course extensively uses tools from Microeconomics and Macroeconomics although set in a different and sometimes unfamiliar context. The course is not limited to theoretical models, though, and each topic is backed by the empirical evidence, also based on examples from Central Asia economies. This allows students to understand how theoretical models can be applied in real life.

Course Learning Outcomes

Upon the completion of the course, students will be able to:

• define the driving forces of the international trade
• recognise gains and losses from free international trade for different categories of people
• analyse the role of the Central Asian economies in the world economic system, including the strength and weaknesses of their respective domestic economies
• examine the interconnectedness between international economics and regional economic issues
• adopt formal models and analytical tools to real life economic problems

Course # ECON 3006

Credits 6

Prerequisites and/or Corequisites: Principles of Microeconomics or an equivalent course.  

Course Description 

This course introduces undergraduate students in the Global Economics program to the economic, social, environmental, and institutional dynamics governing natural systems and resource allocation. It applies microeconomic concepts, market-based mechanisms, and policy instruments to issues arising from the growth, extraction, depletion, and degradation of land, water, energy, and ecosystems.

Through empirical case studies, interactive discussions, qualitative analysis, and quantitative exercise evaluations, students examine how economic incentives can be aligned with sustainability goals. Special emphasis is placed on climate change economics (mitigation and adaptation), common-property resource governance, and environmental policy challenges relevant to mountain territories and developing economies. The course encourages research-oriented learning by helping students interpret socio-economic and environmental data, evaluate trade-offs between efficiency and equity, and connect natural resource economic theory with real-world regional policy problems.

Course Learning Outcomes 

Upon the completing this course, students should be able to:

• Explain the primary microeconomic, social, and political dynamics of natural resource allocation and climate change within a global and regional context.
• Apply analytical tools (rhetorical, graphical, and quantitative) to assess market failures, property rights structures, and environmental externalities.
• Compare policy instruments (taxation, cap-and-trade, community governance) across diverse resource sectors using economic reasoning and empirical evidence.
• Apply basic qualitative and quantitative approaches to analyze non-market valuation, benefit-cost frameworks, and intertemporal resource sustainability trade-offs.
• Interpret socio-economic and environmental data outputs to critically evaluate resource depletion, dynamic efficiency, and climate adaptation strategies.
• Evaluate policy interventions aimed at promoting sustainable and inclusive resource governance, particularly in fragile ecosystems and mountainous regions.
• Communicate economic arguments effectively through structured presentations, class discussions, and written analytical assignments.

Course Assessment and Grading 

Course # ECON 3133E

Credits 6

TBA

Course # DMNS 4186E

Credits 6

Prerequisite: Linear Algebra

Course Description

Linear programming is one of the most versatile and powerful mathematical programming techniques that can be employed for efficiently solving a stylized class of decision problems.

Linear programming has been used with marked success to solve optimization problems in areas such as economics (including banking and finance), business administration and management, agriculture and energy, contract bidding, nutrition (diet) planning, health care, public decision making, facility location, transportation, strategic planning, and so on.

In this course, students will study mathematics that deals with various real-world situations which leads to mathematical models involving linear optimization problems, geometrical solutions of two-variable problems, simplex algorithm, dual problems, sensitivity analysis and transportation problems.

Course Learning Outcomes

Upon the completion of the course, students will be able to:

• Formulate a mathematical model of real-life problems.
• Solve the formulated mathematical problem with the use of different algorithms.
• Translate the results back into the context of the original problem.
• Solve linear programming problems with R studio.

Course Assessments and Grading

Course # ECON 3146E

Credits 6

Course Description

This course provides an introduction to the main anthropological approaches to economic life, emphasizing intricate relationships between culture, society, and economics. The first part of the course provides an overview of anthropology and classical analytical frameworks for understanding how people live and organize their social lives in different ways. The subsequent part discusses contemporary issues surrounding value creation and contestation. Students should be aware that this course is not intended to be an economics course, but it looks at the economic aspects of human life from an anthropological perspective. The course is grounded in the comparative and ethnographically-based discipline of anthropology - it brings together a wide range of regional, cultural and historical material. We examine traditional non-market economies, gift giving and commodity exchange, state and alternative currencies, and human and posthuman economies. Thus, the course aims to explore the economy of societies, which integrates both formal, informal/ traditional ones embedded in the culture of the respective society. By the end of the course, students will have a nuanced understanding of how anthropological theories can help and offer insights into the interaction between human societies, their culture and mode of economy.

Course Learning Outcomes

Upon the completion of the course, students will be able to:

• analyze and discuss the core concepts and principles of economic anthropology
• apply concepts of cultural variation and the diversity of perspectives, practices, and beliefs found within each culture
• critically examine traditional and modern economic systems, focusing on how cultural patterns influence consumption and economic structures
• apply anthropological research methods such as participant observation, thick description, fieldwork, and interviewing to investigate and analyze economic practices, including production, exchange, distribution, and consumption, in relation to their cultural, social, and global contexts

Course Assessments and Grading

Course # DMNS 4143E

Credits 3

Course Description

This course is a senior-level elective for BA in Global Economics students, providing a comprehensive and applied understanding of Human Resource Management (HRM) within a global business context. Students examine how organizations strategically manage their people through the full employee lifecycle — from workforce planning and recruitment through learning and development, performance and reward, and employee relations. Working through current research, real-world practice, and two hands-on projects — a Comprehensive HR Strategy Project and a group-based Recruitment Simulation — students diagnose organizational people-management challenges, design and execute HR processes, and communicate recommendations in professional written, oral, and video formats. As an elective, the course connects HR decision-making to the broader economic and organizational context students study across the Global Economics major, building analytical and practical competencies relevant to management, consulting, and HR-adjacent careers.

Course Learning Outcomes

Upon the completion of the course, students will be able to:

• Apply strategic HRM frameworks to diagnose organizational people-management challenges within a global business context.
• Design and conduct an end-to-end recruitment and selection process, including job design, sourcing, interviewing, and selection decisions.
• Develop a training and development plan using established instructional design and evaluation models.
• Evaluate performance management and total rewards systems against organizational goals and motivation theory.
• Formulate a comprehensive HR strategy for an organization, integrating workforce planning, talent management, and employee relations considerations.
• Present HR analysis, strategy recommendations, and recruitment outcomes in professional written, oral, and video formats.

Course Assessments and Grading