This course provides students with an introduction to economic analysis and institutions. The course starts with developing simple graphical and mathematical models of decision making by individual economic agents: consumers, workers and businesses. Students are directed to analyze interactions between the agents in product and factor markets using the concepts of demand, supply, and equilibrium. It also introduces students to various market structures from perfect competition to monopoly, and describes the roles of government in market economy that include the pricing system in resource allocation and income distribution.
This course studies basic economic concepts and theories of both microeconomics and macroeconomics. It covers such topics as supply and demand, the firm and its cost structure, the public sector, national income accounts, inflation, unemployment, the business cycle, economic policies, the monetary and banking systems, international trade and finance, and economic growth. This course does not replace nor is it equivalent to ECON 105 or to ECON 125. (Not offered to students in the program)
This course introduces students to macroeconomic analysis and its applications. It starts with an understanding of how composition, size, and distribution of national income are determined, and continues with exploring the problems of inflation and unemployment in a modern economy. Students are expected to understand government roles in macroeconomics through the effectiveness of fiscal and monetary policies. Attention is also given to the sources and consequences of economic growth and to the nature of international linkages faced by an economy through goods and capital markets.
This course further develops student understanding of the economic behavior of individuals and firms—how they respond to changes in opportunities and constraints and how they interact in markets. Topics include consumer theory, theory of the firm, competition, and factor markets. Moreover, the course looks at market failures such as imperfect competition (monopoly and oligopoly) and externalities, as well as their consequences on welfare. Throughout the course students will get a sense of the conditions under which market economies are efficient, as well as the way governments can make the economy less or more efficient.
This course introduces students to basic macroeconomic theories, with emphasis on macroeconomic policies in an open economy. The course focuses on the determination of national income, money and inflation, unemployment, aggregate demand and aggregate supply, short-run fluctuations, and the determinants of productivity and long-run economic growth. Fiscal and monetary policies, and associated automatic stabilizers, will be discussed. Considering that macroeconomics consists of different, sometimes conflicting, interpretations of how the economy operates, students will be exposed to different schools of macroeconomics—Austrian and Post-Keynesian schools, New Classics, Monetarists, and New Keynesians—and how they interpret and recommend policies with regards to current events.
This course focuses on understanding money, the banking and financial systems and the role of monetary policy in the economy, topics that are vital to the efficient working of any economy. The course emphasizes concepts that are central to understanding financial instruments, institutions and markets, and the tools and techniques employed throughout the financial system. Course objectives include an understanding of: 1) the origins and nature of money; 2) the determination of interest rates; 3) how to apply basic knowledge of financial markets and instruments; 4) how money and capital markets function; and 5) the role of central banks and formulation of monetary policy.
This course introduces students to regression analysis in order to be able to create a good model that can capture the relationship between the underlying variables. The necessary assumptions for a good model, such as a correct functional form, no autocorrelation, constant variance and normality, will be tested one by one. Potential remedies will be sought in case any assumption is not fulfilled. In addition, the students will learn how to use the regression models for causality analysis and forecasting. All estimations will be performed via econometric software.
This course introduces students to the basic techniques of project appraisal. The course is applied in nature but starts with the theoretical rationale of project appraisal, resource allocation and efficiency, and the Kaldor-Hicks compensation criterion. It evolves to explore different investment criteria and focuses on cost-benefit analysis (CBA) as a major technique widely used in assessing public investment opportunities. Students will examine real CBA case studies and try to apply the concepts they have learned. The course also considers other alternative techniques such the cost-effectiveness analysis (CEA), multi-criteria analysis (MCA), and the qualitative (non-economic) techniques of project assessment.
This course introduces timely topics related to the Environment-Energy-Economy relation. Topics include the economics of pollution, the greenhouse effect and global warming. We use data for the UAE and GCC region to analyze the relationship between different patterns in energy production and consumption, economic diversification, and emissions growth. We also study market-based policy solutions to reduce carbon footprint, such as carbon trading and carbon taxes, in light of the world’s environmental obligations. The second part of the course focuses on energy and the essential transition to renewable resources. We study the economics of oil and the behavior of oil prices and the OPEC, new trends in the production of natural gas, and the prospects for renewable energy with special focus on Abu Dhabi’s MASDAR city initiative and other environmental policies.
This course provides students with economic foundations for strategic analysis and helps them understand the basic theoretical and policy implications of concepts related to the different types of market structures. Students will get familiar with the behavior of firms and their strategic interrelations. Among the topics covered are basic game theory; agency problems and incentives; boundaries of the firm and product diversification; competition and evolution of industry structure; firm strategic positioning and sustaining of competitive advantage; and the origins of competitive advantage innovation. The coverage of these topics will be illustrated with applications related to current events and policies. The course will cultivate the students’ analytical thinking and, among other things, develop their ability to comprehend different firm and industrial issues from the firm, industry and social desirability perspective.
This course introduces students to the field of economic development. It examines a number of definitions and measures of development and highlights the structural diversity and common characteristics of Less Developed countries LDCs. In addition, the course reviews different theories of development and underdevelopment. The role of globalization and international trade in development is discussed. Major issues in economic development of the Arab world are also addressed.
This course studies the development and evolution of the principles of Islamic economic thoughts in general and Islamic finance and investment in particular. It focuses on the principle of profit-and-loss-sharing and Islamic modes of finance and investment and their implications on economic policies, development and stability. The course also examines Islamic ethical business, management and labor economics when they all interact together.
This course introduces students to the concepts of international economics and international business, focusing on two main themes: international trade and globalization. The course covers Ricardo’s comparative advantage theory and the allocation of trade based on specialization and opportunity costs, the Heckscher-Ohlin model of resource abundance and factor intensity as the main source of comparative advantage and direction of international trade in the modern world, the role of different market structures, such as monopoly, oligopoly, and monopolistic competition, in international trade from the business perspective, and the welfare implications of barriers to trade, such as tariffs, quotas, and regulations. Last, the process, trends, historical facts, and effects of globalization will be discussed in conjunction with international trade.
The aim of this course is to develop an understanding of the role of the government and the public sector in mixed economies in theory and practice. The course discusses the ideal situation of perfectly competitive markets and how market structure relates to economic efficiency. Under perfectly competitive markets, externalities result in inefficiency. Inefficiency is also the result of monopoly. Government has a role to play in market failure to improve efficiency, but it also plays a role in the redistribution of resources in the society. Government expenditures to improve efficiency and how revenues finance these expenditures are discussed. Topics covered include market efficiency, market failure, externalities, equity, public goods, public expenditure, taxation, and fiscal federalism. The applied nature of these topics will also be considered.
The aim of this course is to supply students with an understanding of the issues and problems of conducting research in economics and the tools available to them. The course will enable students to develop skills necessary to conduct applied research in economics or an allied field. During the course students will develop original research question/s and hypotheses, conduct a literature review and use bibliographic software to manage their citations and references, analyze the problem/s using appropriate research methods (quantitative/qualitative) according to ethical standards, test their analysis or model of the problem, interpret their results, and write up the findings using appropriate academic language.
This course aims to provide students with an understanding of the socio-economic and structural characteristics of the Middle East and North African economies. The course analyses the contemporary opportunities and challenges facing these economies, with a specific focus on the Gulf region. Learning methods require students to analyze academic articles on the region and utilize econometric techniques. Among the topics covered are developments in the oil and gas sector, labor markets and migration, the implications of changing demographics such as declining birth rates, the role of inter-regional and international trade, capital flows, the role of government policy, economic reforms and diversification, and finally the significance of banks and financial markets in the region’s economic development.
This course exposes students to the key aspects of labor economics and human resource development theory: demand and supply; market equilibrium; productivity; and incentive structures. It also highlights the synergies between these two fields. It introduces the main tools used to analyze, evaluate and understand labor market dynamics. In addition, it concentrates on the labor markets of the UAE and the Arab Gulf. It introduces UAE specific case studies and labor market data for empirical applications. Topics covered include: national unemployment; labor nationalisation; investments in human capital; and the strategic goal of transitioning to a more knowledge-based economy.
This course introduces students to the art of applying different economic theories and concepts to specific “real world” topics in economics. The course topics may vary to reflect changing interests and state of the art topics. Depending on faculty interest and availability, the course may cover a wide range of special topics in economics with an applied orientation. For instance, it may cover topics that belong to Health Economics, Public Economics or Sustainable Development Economics.
The course will focus on the principles and techniques of economics important for analyzing economic aspects of public policy. First, the course will focus on the working on the aggregate economy highlighting topics like employment, productivity, trade and fiscal deficits, inflation, interest rate and exchange rates and their impacts on public policy. Then the course will focus on micro issues like the models of economic behavior, the price system, market failure and interventions, and related policy instruments. The course will examine Islamic principles and theories of the above topics, as appropriate
This course will examine the major aspects of financial planning and public budgeting focusing on topics like the philosophy of public finance, financial analysis and planning techniques, theories of budgeting and budget as a mechanism for planning and control, accounting and auditing in the public sector, government responsibility for capital facilities planning, etc. The course will also look at the contemporary issues in public budgeting and financial management, and how they interface with public management drawing on comparative regional and international experiences, as available and appropriate.
Deeper global economic integration is a key strategic goal for the UAE and is seen as a catalyst for the UAE’s sustainable economic development. This course will provide students with an in depth understanding of how international business issues affect the UAE and how the UAE is positioning itself in the global economy. The course will provide a clear framework for understanding the process of globalisation, international transactions, financial issues, global economic trends and their significance for UAE organisations, as well as how government policy is facilitating the UAE’s deeper integration into the global economy.
This course applies economic analysis to the study of human resource management issues. In particular, it focuses on the economic rationale for formulating specific personnel strategies and policies such as those related to incentive systems to enhance performance and stimulate innovation within organizations. The course covers the key topics of personnel economics within five aspects of employment relationships: incentives, matching firms with workers, compensation, skill development, and the organization of work. In each of these aspects, the course aims at bringing valuable cutting-edge economics research findings and case studies to managers which can help them develop a deeper understanding of human resource issues and tradeoffs in the complex business environment of today. The course starts by studying firms’ hiring decisions and how the job offer can be structured to improve the effectiveness of recruiting under imperfect information and the presence of search costs. So, we study the latest research on matching firms with workers under asymmetric information and the firm’s decision to investment in workers’ skills and human capital. We then study issues related to job design and the economics of teamwork. The course then moves to a central issue in personnel economics: incentives and encouraging employees’ efforts. In this we critically analyze the trade-off between risk and incentives, performance evaluation, rewarding performance and compensation models. Lastly, the course considers benefit design issues.
This course is designed to develop students understanding of microeconomic principles and how they can be applied to deal with real world situations. It focuses on the study of economic agents’ behavior and how they respond to changes in opportunities and constraints. It also analyzes agents’ interaction in the marketplace. The course also covers issues related to the welfare effects of market structures and how do governments deal with market failures. The course methodology relies on mathematical tools and their microeconomic applications.(Not sure whether such course exists)
This course introduces econometric approach to problem solving. Major emphasis is placed on applications of methods to economic problems in agriculture and related industries. The course includes discussion of univariate, bivariate, and multivariate statistical analysis and applications. It provides students with the skills necessary to be able to construct models and estimate them within a regression framework. Diagnostic testing in order to verify whether or not the underlying assumptions for a good model are fulfilled is an integral part of the course. In case any assumption is not fulfilled potential remedies will be provided.
This course covers the essential principles and tools of Managerial Economics. The course examines the principles of microeconomics, and illustrates how they apply to managerial decision-making. Students who master this material will be better prepared for leadership positions in business, not-for-profit, and government entities. The first part of the course discusses basic economic concepts such as supply, demand and costs. We move from these basic concepts to studying how firms behave when they have market power. Topics include differences between perfectly and imperfectly competitive markets, optimal pricing for firms with monopoly power, and the use of advanced pricing such as bundling and versioning to capture value. The final section of the course focuses on advanced topics in market analysis. These include the role of externalities and imperfect or asymmetric information.
This course focuses on the role of financial management in maximizing the value of the firm. The course covers the basic building blocks of financial management, which will be needed in more advanced courses in finance and banking. The core of this course is on the principles of modern corporate finance and financial management. It emphasizes important concepts and techniques needed for financial decision-making. Topics covered include: Business ownership, time value of money, valuations of bonds and stocks, money and capital markets, financial analysis, financial planning, risk and return analysis, capital budgeting, cash flow analysis, capital structure, financial planning, dividends policy, cost of capital, working capital management.
This course takes a risk management approach to the analysis of financial institutions operations and is designed to develop an understanding of the challenges in the management and regulation of financial intermediaries. As such, this course is designed to provide students with a conceptual framework necessary for analyzing and comprehending the current problems confronting managers of depository institutions and other intermediaries. It begins with a description of the institutional structure of financial institutions and the current global initiatives to regulate the risk management of banks (Basel accords on capital adequacy). It then characterizes the primary risks financial institutions confront. This is followed by development and use of risk management tools by financial institutions. The emphasis will be on the risk structure, operations and regulation of depository institutions.
The course reviews and reinforces the basic concepts covered in principles of financial management (FINC 240) and completes on them. Building on students? knowledge of ratio analysis, financial statements, time value of money, stock and bond valuation and capital budgeting, the primary objective of this course is to expand on that knowledge by introducing students to real world examples of how these concepts are used in day to day corporate strategic planning and decision making. Topics covered include financial analysis using both quantitative and qualitative data, theories of capital structure & dividends, long-term financing decisions and the appropriate use of debt/equity, calculation of optimal capital structure, sources and uses of short-term financing and cash management, mergers & acquisitions, bankruptcy & financial restructuring and corporate governance. A large array of applications and case studies is used to support the practical side of the different topics of this course.
This course aims to provide the essential understanding of Islamic economics and Islamic finance, including the setting up of traditional Islamic financial tools and practices and the development of modern Islamic banking and financial instruments and institutions. The course examines and relates the theory of Islamic finance to recent development in Islamic banking and financial industry. Topic covered include money policy, profit sharing, Islamic financial and banking institutions and their operations, Islamic banking model and alternative models of financing and structuring of Islamic investment funds.
This course provides a foundational knowledge of the international business environment as well as introduces ideas on how financial management helps multinational firms operate optimally in that environment. The course focuses on international financial management within the multinational firm and provides an understanding of international regulatory and environment differences, the different foreign exchange regimes, balance of payments, access to money and capital markets, use of derivatives to hedge exchange rate risk, measurement and management of exposure to exchange rate and interest rate fluctuations, and international diversification. Emphasis is on international financial decision-making through the extensive use of cases and real-world examples.
The course builds upon the concepts covered in the principles of financial management course (FINC 240). This course introduces the students to the analysis of investment information, evaluation of risks and returns, and principles of portfolio selection in investment decisions. This course focuses on securities markets, investment risk-return tradeoff, asset pricing models, and stock price behavior in relation to capital market efficiency hypotheses. Particular emphasis is placed on stocks, bonds, mutual funds and financial futures and options contracts. Special prominence is given on the study of the operations of securities markets, investment policies, valuation of individual securities, and techniques of investing in securities. Topics covered include investment instruments and their characteristics, introduction to portfolio and capital market theory, theory of valuation of stocks, bonds and the term structure of interest rates, options, commodity and financial futures, investment companies and mutual funds, and international investments.
This course is designed to prepare the students to interpret and analyze financial statements in various decision-making contexts. Indeed, Mergers, acquisitions, distress prediction, credit analysis, and security analysis rely on financial data and require full awareness of the financial position of the firm. Therefore, in order to analyze corporate decisions in those contexts, analyzing financial statements becomes vital as a milestone to conduct prospective analysis and valuation. Moreover, the financial performance of the firm crucially depends on various other factors among them: the business policy and the business environment. This course integrates financial statement analysis and performance evaluation in various corporate decision contexts. Ultimately this course aims to familiarize students with firm valuation using financial statements in view of the business strategy and the accounting policies adopted by the firm. The course briefly familiarizes students with understanding business policies, reporting policies then it offers a good platform for analyzing financial statements and conducting prospective analysis aiming to evaluate M&A decisions, distress prediction, credit analysis and equity security analysis etc…
This course emphasizes the case study approach to intermediate financial management (corporate finance and security analysis). It focuses on examining a theoretical or practical topic proposed by the faculty beyond what is offered in existing finance and banking courses. The course deals with the applications of principles and techniques of corporate finance to the real-world situations through the intensive use of case studies. Topics covered include advanced capital budgeting, corporate governance, mergers and acquisitions, capital structure, dividend policy, short-term financial management and advanced security analysis techniques.
The course deals with the theoretical and operative framework of advanced investment management using modern portfolio theories and money management techniques. It builds and expands on the knowledge the students gained in FINC 377 (Investments). It studies how optimal portfolios are constructed, the relation between risk tolerance and asset allocation, the use of hedging instruments to manage risk or/and enhance expected returns, and performance evaluation given the investor's objectives and constraints. In this course, students will apply portfolio models and concepts to actual market data to perform analytical skills and evaluate equities, fixed income securities and other investments. Asset pricing, diversification and other financial models are covered in detail. Active versus passive investment strategies, trading practices and the role of derivatives in managing securities risk, through case study and simulation approach, will be highlighted throughout the course.
The course covers highly specialized topics in finance with a special focus on advanced financial strategies. The course builds on the contents covered in earlier finance courses and provides a gate for students to broaden their understanding of various finance topics that are applicable in the industry nowadays. The course can be designed to focus on restructuring topics such as mergers and acquisitions including various types of M&A transactions, merger motives, performance of the merging parties, the method of financing M&As, the valuation of target firms and evaluation of synergies, in addition to related topics such as corporate governance and restructuring such as divestiture, spin-offs, buyouts, etc. The course can also cover other topics such as venture capital and private equity as well as other contemporary selected topics in finance of particular interest such as behavioral finance and real estate finance.
This course emphasizes derivatives products theories and its applications in financial markets. The course covers the conceptual and practical aspects of the use of derivative products for speculation and hedging purposes. Comprehensively studies equity and debt-based options, futures and other derivative instruments. It discusses the functioning of options and futures markets and the role of the market participants. Derivative instruments are analyzed with a focus on pricing, hedging techniques and arbitrage applications. Topics covered include derivatives products theories and applications, derivatives exchanges, valuation of derivatives (futures, forward, swaps and options contracts on different underlying assets), trading practices and regulations and the corporate management of financial risks. Case work and analysis is emphasized throughout the course.
This course aims at introducing MBA students to the essentials of modern corporate finance, financial management, and the process of financial decision-making at the corporate level. It focuses on the role of financial management in maximizing the value of the firm. It provides a framework for understanding the financial dimensions of implementing a competitive strategy in an unpredictable global economy. Throughout this course, students will examine the three responsibilities of a financial manager: (i) Making good investment decisions; (ii) Making good financing decisions; and (iii) implementing appropriate payout policies. Emphasis is on financial decision-making through the extensive use of cases and real-world examples.
The course builds on FINA 610 Financial Management course and analyzes a variety of issues. The course is concerned with analyses of the financial policies and strategies of corporations using the case study approach. The topics covered include advanced project valuation using real options, cost of capital and capital structure, distribution policy including dividends and share repurchases, raising capital, mergers and acquisitions, leverage buyouts, corporate failure and restructuring. The course is useful for any student who is contemplating an eventual senior management position in a corporation. The course is also useful for investment managers and analysts. The course bridges the gap between theory and practice by using real life cases for international and regional corporations, where students are exposed to strategic financial decisions faced by corporation and will be stimulated to apply their analytical skills and reasoning in proposing optimal solutions to the problems in place.
The course focuses on the unique problems encountered by the international treasurer or chief financial officer of multinational corporations. It is the international sequel of a corporate finance course and as such it revisits the same funding/financing and investment questions within a multi-currency setting. This course is designed to provide a foundational knowledge of the international business environment and to introduce ideas on how financial management helps multinational firms operate optimally in that environment. Emphasis is on international financial decision-making through the extensive use of cases and real-world examples.
This course introduces the students to the analysis of investment information, evaluation of risks and returns, and principles of portfolio selection in investment decisions. It offers an analysis of investments in financial securities, with an emphasis on portfolio theory and provides the theoretical and operative framework for portfolio and advanced investment management in the securities markets. This course focuses on securities markets, investment risk-return tradeoff, asset pricing models, and stock price behavior in relation to capital market efficiency hypotheses. Particular emphasis is placed on stocks, bonds, mutual funds and financial futures and options contracts. Special prominence will be given on the study of the operations of securities markets, investment policies, valuation of individual securities, and techniques of investing in securities. A large array of applications and case studies is used to support the practical side of the different topics of this course. At the minimum the course should include the following topics: the purpose and operations of security markets; investment instruments and their characteristics; introduction to portfolio and capital market theory; theory of valuation of stocks, bonds and the term structure of interest rates; options, commodity and financial futures, investment companies and mutual funds; and international investments.
Managers with financial responsibilities are expected to have a working knowledge of the principles and practices of pure and financial risk management. Financial reporting is now seen as less important than skill in financial decision making. The volatility in financial and commodity markets clearly shows that firms face risks. Financial risk management aims to analyze, control, and if necessary, reduce those risks to an acceptable level. This is an essential aspect of financial management and one increasingly sought by practitioners. The course focuses on the application of risk management to the issues and problems of financial theory. Topics will include risk exposures (pure and speculative), methods of risk handling, interest rate risk and gap analysis, linear and nonlinear products, capital risk and Basel II, the VaR measure of market risk, credit risk and probability of default measures, operational risk, model risk and liquidity risk, and currency risk. The course will build upon the analytical skills developed in Financial Management and Corporate Strategy.
This course covers the basic concepts of Islamic Finance and the functioning of Islamic financial institutions, such as banks, insurance companies and investment funds. After reviewing the basic concepts of economics from an Islamic perspective, the course introduces and analyzes the financial instruments and techniques developed and used by Islamic financial institutions in the process of collecting savings and making investments. Islamic financial products, such as murabaha, musharaka, mudaraba,Istisna’a, Bai Salam, and Ijara will be introduced and discussed. This course covers also special topics such as the worldwide development of the Islamic finance industry, its challenges and opportunities and the regulation and governance of Islamic financial institutions.
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