SMU SCHOOL OF ECONOMICS - Singapore Management University · SMU SCHOOL OF ECONOMICS 1 ... 2 Singapore Management University ... theory and international trade and fi nance to applications

SMU SCHOOL OF ECONOMICS 1

SMU SCHOOL OFECONOMICSSupplies a high degree of academic rigour; puts you in high demand by employers

Market-Responsive Curriculum

Our students are thoroughly equipped with up-to-date industry knowledge and quantitative skills.

Broad-Based Flexibility

Our double major/degree options provide students with greater fl exibility in career choices.

Innovative & Integrative

Our courses integrate the latest research, analytical methods and applications to current economic issues.

Specialised Economics Track

Our students have the opportunity to opt for the Quantitative Economics Track which deepens their analytical competencies.

210x 297mm DPC M Y KJOB NO: 0170_16

DATE : 20.02.2016SCREEN: 175

MAC:foong 1TEL: 6295 1311

SMU SCHOOL OFECONOMICSSupplies a high degree of academic rigour; puts you in high demand by employers

Market-Responsive Curriculum

Our students are thoroughlyequipped with up-to-dateindustry knowledge andquantitative skills.

Broad-BasedFlexibility

Our double major/degree options provide students with greater fl exibility in career choices.

Innovative & Integrative

Our courses integrate the latest research, analytical methodsand applications to current economic issues.

SpecialisedEconomics Track

Our students have the opportunity to opt for the QuantitativeEconomics Track which deepenstheir analytical competencies.

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2 SMU SCHOOL OF ECONOMICS

Singapore Management University2

D E A N ’ S A D D R E S S T( E

SMU was envisioned to be the institution that would alter the higher

education landscape in Singapore, setting a new style and a higher

standard for learning. And for 16 years now, SMU has successfully

prepared students to be both “market-ready” and “future-ready”

regardless of their interests and choice of career paths—graduates

who are well equipped not only to enter the workforce but also to

handle the challenges of a complex and changing world.

In the School of Economics you will benefi t from active participation

in discussions and group projects rather than a one-way passive

transfer of head knowledge. You will have the advantage of

interacting closely with our talented and experienced faculty, who

are themselves actively contributing to the development of new

knowledge and methodology. They bring expertise and experience

that enrich the seminar-style discussion with the latest thinking

about economic issues.

Your learning journey with us will equip you with the ability to

‘think like an economist’ and with the skills, content knowledge

and structures that can be applied to understand and analyse

real-world problems and issues, whether they be of global import

or encountered as part of daily life. Our graduates are highly sought

after. Most are employed by government agencies and private

sector organisations such as fi nancial institutions and consulting

fi rms. Others use their economics training as the underpinning for

entrepreneurial pursuits or as their entrée to postgraduate studies

in leading universities around the world.

Our curriculum is both academically rigorous and fl exible. It is

designed to give you a foundation of economic knowledge and

methodology on which you can layer more focused combinations

of study according to your areas of interest. The core provides a

broad understanding of the reach of economics, the frameworks

for organising thinking about economic questions, and the

most commonly used methods for solving economic problems,

including experience with empirical techniques for the analysis and

interpretation of economic data. The elective courses will provide

you with more specialised knowledge, ranging from advanced

theory and international trade and fi nance to applications in

important fi elds such as health economics, real estate economics

and urban economics.

I look forward to welcoming you to our School for this next

signifi cant and memorable stage of your learning journey.”

Professor Bryce Hool

Dean

School of Economics

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T H E S M U B A C H E L O R O F S C I E N C E ( E C O N O M I C S ) A D VA N TA G EThe Economic Perspective

Our rigorous curriculum is designed to train students to

think about real-world issues and equip them with a unifi ed

method to solve them. Our students are empowered to read

and anticipate both local and global trends with the robust

framework of an economist.

Quantitative Knowledge to Solve Real-Life Problems

With strong foundation courses and elective courses designed

for relevance, such as Real Estate Economics, Health

Economics, Economics of Ageing, Economics of Politics,

Empirical Industrial Economics, and Organisational Economics,

which are rarely found in other undergraduate programmes,

our students are exposed to a wide range of applications of

economic principles to current global issues.

Broad Understanding of Society and

Human Behaviour

Economics is about addressing questions in the social world

with data and sound logical thinking. This requires the use of

Mathematics and Statistics whenever needed. Our rigorous

curriculum encompasses all these aspects and prepares our

students for their experiential learning through internships,

exchange programmes and community service projects.

Impressive Career Placements

The strength of our programme is demonstrated by our

graduates’ success in their job placements and development

in career paths that include banking and fi nance, consulting,

media, communications, retail, real estate, IT, manufacturing,

shipping, and the public sector. Our graduates are employed

in top local and global organisations that include Goldman

Sachs, Credit Suisse, Singapore Exchange, Development Bank

of Singapore, Citibank, McKinsey, PricewaterhouseCoopers,

Bain, Accenture, Ministry of Finance, Monetary Authority of

Singapore, Ministry of Health, Ministry of Trade and Industry,

Singapore Economic Development Board, amongst others.

Our graduates also pursue their postgraduate studies in leading

universities around the world, including:

• Columbia University

• London School of Economics and Political Science

• New York University

• Northwestern University

• Oxford University

• University of Michigan

• University of Minnesota

• University of Pennsylvania – Wharton School

• University of Southern California

• University of Washington


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C U R R I C U L U M E

Internship and Community Service

An important feature of our Bachelor of Science (Economics) curriculum

is the internship programme. Every student is guaranteed an internship

in one of our partner network of established organisations in the private

and public sectors, both local and international. Our programme aims

to provide a deeper cross-cultural appreciation of business practices

and research as well as the opportunity for work experience and future

employment prospects. The minimum duration of the internship is 12

weeks, of which two weeks must be dedicated to community service. This

experience of community involvement reinforces the importance of being

civic-minded citizens of society.

Global Exposure

We have a passionate commitment to broaden the horizons of our

students through at least one overseas experience, particularly through

the university’s International Programmes. Studying abroad can be an

enriching cultural and academic experience that offers endless benefi ts.

You can choose to undertake an exchange programme for at least a term

in any one of our more than 210 partner universities across 46 countries.

Aside from the opportunity to experience university life overseas, these

programmes help to develop your global perspective on different cultures,

educational systems and work practices.

The curriculum consists of 36 course units and a 12-week internship, and is reinforced by global exposure.

Modes of Thinking (1 course)

Asian Studies (1 course)

Entrepreneurship (1 course)

Globalisation (1 course)

Technology Studies

(1 course)

General Education(4 courses)

Foundation Courses (3 courses)

Economics Core (5 courses)

University Core (4 courses)

Economics Electives (8 courses)

SMU Internship Programme

Economics Options(7 courses)

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Economics Core

The Economics Core lays a broad foundation

for the study of economics. It has 5

compulsory courses:

1. Introduction to Statistical Theory

2. Intermediate Mathematics for Economics

3. Intermediate Microeconomics

4. Intermediate Macroeconomics

5. Introduction to Econometrics

Economics Electives

Economics Electives provide you with

specialised knowledge in various fi elds of

economics. A total of 8 courses must be

completed, including an international

economics component. To satisfy this

requirement, you may take:

EITHER

• International Economics B plus 7 other

Economics Electives

OR

• International Trade AND International

Macroeconomics plus 6 other

Economics Electives

The set of Economics Electives is a rich menu

of courses offering a wide range of topics to

choose from. Some examples are:

1. Advanced Macroeconomics

2. Advanced Microeconomics

3. Development Economics

4. Economics of Asymmetric Information

5. Economic Aspects of Maritime Law

6. Economic Forecasting

7. Economics of Ageing

8. Economics of Politics

9. Economics of Privatisation, Regulation

and Competition Policy

10. Empirical Industrial Economics

11. Environmental Economics

12. Game Theory

13. Health Economics

14. Industrial Organisation

15. Labour Economics

16. Macroeconomics of Income Distribution

17. Maritime Economics and Shipping

Finance

18. Monetary Economics

19. Organisational Economics

20. Political Economy of Globalisation

21. Port Economics and Management

22. Public Sector Economics

23. Real Estate Economics

24. Urban Economics and Policy

Economics Options

A total of 7 courses must be completed in

this category. You may choose courses from

among Economics Electives or courses from

any of the other Schools for which you satisfy

the prerequisites.

Our Bachelor of Science (Economics) is a 4-year programme. It is carefully designed to provide you with a strong

understanding of modern economic theory, inculcate independent thought about economic policies and problems,

develop the capability for quantitative research, and provide descriptive knowledge about the local and global

economies. The programme consists of the Economics Core (5 courses), Economics Electives (8 courses), and

Economics Options (7 courses).


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S P E C I F I C A L LY D E S I G N E D P R O G R A M M E S A N D E C O N O M I C S H O N O U R S

Quantitative Economics Track

The Quantitative Economics track (QET) is

designed to respond to the increasing demand

from industry, government and academia

for graduates with the knowledge and skills

required for technical analyses of economic

situations and issues. This track is ideal for

students who are interested in:

• becoming professional economists in the

government or private sectors;

• pursuing a more technical career path in

industry;

• pursuing graduate studies in Economics or

in Finance;

or simply increasing the scope and depth of

their knowledge in the quantitative aspects of

Economics.

The choice of Economics courses is guided to

place more emphasis on the development and

application of quantitative methods. Students

who opt for this track will take the more

quantitative international economics options

which provide the training for conducting in-

depth analysis of international trade and fi nance

issues, while a deeper foundation in economic

analysis and a higher level of technical

competency will be achieved through advanced

courses in the core areas of microeconomics,

macroeconomics and econometrics.

The compulsory courses for the QET are the

5 courses in the Economics Core plus the

following 5 courses from Economics Electives:

1. International Trade

2. International Macroeconomics

3. Intermediate Econometrics

4. Advanced Microeconomics

5. Advanced Macroeconomics

In addition, our students must complete their

Economics major requirements with any 3

courses from Economics Electives and any 7

from Economics Options.

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Within the Economics major there are some specifi cally designed combinations of courses.

Maritime Economics Concentration

The Maritime Economics Concentration (MEC)

is designed to give our students a distinctive

preparation for maritime-related roles in

industry and government organisations such as

the Maritime and Port Authority of Singapore

(MPA). Building on the foundations established

in the major, the MEC develops essential

knowledge and contextualised skills relevant

for analysis of economic issues in the maritime

sector. Singapore is one of the world’s great

maritime hubs and there is a strong demand for

graduates with this preparation across a variety

of careers in the sector. MEC students will have

access to industry scholarships and experiential

learning opportunities including industry

study missions, site visits, local and overseas

internships, and noncredit courses presented by

leading practitioners.

The MEC requires the 5 courses in the

Economics Core and a minimum of 4 courses in

Maritime Economics:

1. Maritime Economics and Shipping Finance

2. Port Economics and Management

3. Economic Aspects of Maritime Law

4. One or more electives from a specifi ed set

of courses relevant to the maritime industry

In addition to satisfying the remaining

requirements for Economics Electives and

Economics Options, MEC students must also

complete 3 non-credit courses. These courses

are designed to provide in-depth practical

knowledge of key aspects of the maritime

industry.




Economics Honours Programme

To be enrolled in the Honours programme, you must have achieved a

GPA of at least 3.40 in a specified set of Economics courses. You must

complete the Senior Thesis Seminar (equivalent to 2 course units) and

additional Economics Electives while maintaining a GPA of at least 3.40

in this set of courses.

Second Majors

You may also choose a second major within the School of Economics, in

Actuarial Science or Applied Statistics, or select a second major from one

of the other Schools. Examples of second majors include:

• Accounting

• Actuarial Science, with Actuarial Analyst or Risk Analyst Track

• Applied Statistics

• Corporate Communication

• Finance

• Information Systems

• Legal Studies

• Marketing

• Organisational Behaviour and Human Resources

• Political Science

• Psychology

• Sociology

Second Major in Applied Statistics (APS)

The second major in Applied Statistics (APS) builds upon a fi rm foundation

in statistical theory to develop applications related to the collection,

analysis and interpretation of data for making the best decision under

uncertainty. Students in the APS major will be equipped with quantitative

skills and knowledge for the identifi cation of appropriate techniques,

competent execution of analysis and correct interpretation of results. The

APS major covers a wide range of fundamental statistical concepts and

techniques, such as estimation, hypothesis testing, regression analysis,

stochastic modelling, statistical computing, time series analysis, survey

methods, forecasting, etc. These tools can be effectively applied to

different business areas such as fi nance, economics, risk management,

actuarial science, marketing research and manufacturing processes.

Second Major in Actuarial Science (ACS)

Modern actuarial training requires multidisciplinary knowledge such as

probability, statistics, fi nance and accounting. The Actuarial Science (ACS)

major refl ects this by incorporating various interdisciplinary courses in the

programme. Students taking this major can choose either the Actuarial

Analyst (AA) or the Risk Analyst (RA) track, with slightly different focuses

in their applications. This programme has gained accreditation of the

Validation for Education Experience (VEE) of the Society of Actuaries

(SOA). It also provides training for students to sit for the SOA

Preliminary Examinations.

Double Degree

The double degree programme provides students with added fl exibility in

their career options. Under the double degree programme, a student can

graduate with two degrees in:

• Economics and Accountancy

• Economics and Business Management

• Economics and Information Systems

• Economics and Social Sciences

• Economics and Law (Law must be the primary degree)

For more information on our curriculum, please visit our website:

www.economics.smu.edu.sg

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H E A R F R O M O U R A L U M N I

My time in SMU School of Economics has helped me to sharpen the way I look at various issues,

arming me with decision making skills. I am able to balance the benefits and costs whenever we

come up with new initiatives or solutions. In a way, in addition to the innovative thinking encouraged

by other university courses, I find myself grounded in “an economic way of thinking” trained from all

economics modules. These modules help me to develop the ability to look at an issue from a macro

perspective and to drill down to the micro details so that I can get a more complete picture whenever

I assess the feasibility of a policy initiative. Moreover, the statistical and modelling knowledge that I

have learnt in economics modules is helpful in my career. When bombarded with data, I am able to

conduct useful data analysis to support my proposed solutions quantitatively (be it in policy initiatives

or in supervisory work analysis).

Ang Ziqin

Associate, Monetary Authority of Singapore, Graduated in 2014

SMU’s School of Economics provides an all-rounded education with a wide selection of courses

for students to equip themselves for a successful career in either the public or the private sector.

For me, the education I received at the School has helped me appreciate the drivers of societal

and market trends better and allowed me to accurately identify intervention points for robust policy

making. The small class size and interactive learning methods offered also helped me to develop

the necessary skills to create win-win relationships and work effectively in teams. In addition, the

courses offered are also sufficiently in-depth and applicable and this allowed me to hit the ground

running when I joined the workforce.

Yam Yujian

Director, Property Research, Urban Redevelopment Authority, Graduated in 2008




Reading Economics at SMU has helped me develop a structured thinking process, through the exposure

to different frameworks and models. I found these models to be extremely interesting as they gave

me a different lens of viewing and perceiving the real world each time. This, coupled with the relevant

quantitative skills I picked up, are especially useful in the workplace when one works with large data

sets to draw meaningful conclusions. In addition, I also greatly enjoyed the interaction I had with my

professors during my time in SMU. This was only possible through the openness of the professors to

interact with students, which I found particularly enriching.

Sidney Loo Jian-liang

Financial Analyst, Total Trading Asia, Graduated in 2014

The courses that I’d studied under my double degree Bachelor of Economics and Business Management

(Operations) allowed me to hone my analytical skills and broadened my perspectives on consumer

behaviour and organisational management. Upon graduation, I joined a local start-up which had a core

retail business, and was one of their first employees. It was rewarding to be able to apply key concepts

and skills in my work and contribute towards the company’s expansion and growth. However, the most

significant takeaway point from my four years in SMU were the soft skills that my education equipped

me with – the ability to evaluate decisions from both a macro and micro level, the relentless pursuit for

professionalism, integrity and accountability in my work, and the determination to consider thoroughly

all perspectives and issues from every stakeholder concerned, be they suppliers and partners from the

backend or customers and employees at the frontline on the ground, or within my team.

Ng Li Tying

Offl ine Partnerships & Buying Manager, Naiise, Graduated in 2014


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For students with outstanding academic results, strong leadership potential and excellent track records in co-curricular activities and/

or community service, a host of attractive scholarships and awards are available. The scholarships and awards from the School of

Economics include but are not limited to the following:

• DBS Bank School Valedictorian Award in Economics

• Economic Society of Singapore Excellence Award

• Economics Advisory Board Excellence Award

• Excellence Award in Actuarial Science Major

• Excellence Award in Applied Statistics Major

For more information on other scholarships, please visit www.smu.edu.sg/smu-scholarships

• MPA Excellence Awards in Maritime Economics

• MTI (Economist Service) Prize

• MTI (Economist Service) Best Thesis Prize

• School of Economics Scholarships




F I N A N C I N G Y O U R S M U ST U D I E S

A D M I S S I O N R E Q U I R E M E N T S

Our tuition fees are highly subsidised by the

Singapore Government in the form of a tuition

grant administered by the Ministry of Education.

This makes studying at SMU affordable.

With the adoption of a fi xed fee model, students

are guaranteed that their tuition fees remain

unchanged throughout the normal four-year

duration of study at SMU. This provides

students and parents a certainty in their

fi nancial planning.

Tuition fees for each new incoming cohort are

subject to annual revisions and tuition fees

mentioned are quoted in Singapore dollars (S$).

The tuition fees do not include accommodation

and living expenses.

For more information, please visit

www.admissions.smu.edu.sg

The selection process for admission into SMU’s

undergraduate programmes is based on a

meritocratic and competitive criteria. SMU’s

all-rounded approach in assessment and

selection of our students ensures that they are

able to cope with the academic rigour and be

developed holistically through their involvement

in other activities.

For more information, please visit

www.admissions.smu.edu.sg


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School of Economics Singapore Management University90 Stamford Road, Singapore 178903Tel: (65) 6828 0870 Fax: (65) 6828 0833www.economics.smu.edu.sg Undergraduate Enquiries: [email protected]

Printed in February 2016


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SMU SCHOOL OF ECONOMICS - Singapore Management University · SMU SCHOOL OF ECONOMICS 1 ... 2 Singapore Management University ... theory and international trade and fi nance to applications