Economics Minor Program Courses

Table of Curriculum

Classification Course No. Course Title Lecture:Lab:Credit
(Assignment)		 Department Semester Remarks
Mandatory Major
(6 Credits)		 BTM210 Microeconomics 3:0:3(6) Business and Technology Management Spring,Fall
BTM211 Macroeconomics 3:0:3(6) Business and Technology Management Spring,Fall
Elective Major
(12 Credits)		 MAS250 Probability and Statistics 3:1:3(6) Mathematical Sciences - Choose 1
MAS350 Elementary Probability Theory 3:0:3(6) Mathematical Sciences -
MAS355 Mathematical Statistics 3:0:3(6) Mathematical Sciences -
MAS456 6 Statistical Methods with Computer 2:3:3(6) Mathematical Sciences -
MAS371 Introduction to Financial Mathematics 3:1:3(6) Mathematical Sciences -
MAS471 Financial Mathematics and Stochastic Models 3:0:3(6) Mathematical Sciences -
BTM301 Econometrics 3:0:3(6) Business and Technology Management Spring
BTM311 Intermediate Microeconomics 3:0:3(6) Business and Technology Management Fall
BTM312 Intermediate Macroeconomics 3:0:3(6) Business and Technology Management Fall
BTM402 International Economics 3:0:3(6) Business and Technology Management Fall
BTM408 Economics of Technology and Innovation 3:0:3(6) Business and Technology Management Fall
BTM413 Industrial Organization 3:0:3(6) Business and Technology Management Spring
BTM415 Game Theory 3:0:3(6) Business and Technology Management Fall
BTM417 Financial Economics 3:0:3(6) Business and Technology Management Fall
BTM418 Network Economics 3:0:3(6) Business and Technology Management Fall
BTM484 Special Topics in Economics 3:0:3(6) Business and Technology Management Spring,Fall

Descriptions of Courses

  • BTM210   Microeconomics
    • This course is concerned with the understanding of basic principles in microeconomics. Microeconomics considers how individuals, firms, the government, and other organizations make choices. By the end of semester, students should understand the main logical arguments used by economist to describe how the world works, and be able to use these tools to analyze business and public policy problems.
  • BTM211   Macroeconomics
    • This course is concerned with the construction of macroeconomic theories that can explain and predict variations in aggregative economy-wide) variables, such as GNP, unemployment, the general price level, interest rates, growth rates, and the exchange rate. The course material and class organization stress the development of the tools and background necessary for your field courses.
  • BTM301   Econometrics
    • This course will provide students with an opportunity to learn basic methods of multiple regression analysis. Estimation and testing hypotheses are the is course. Topics covered in this course are multiple regression, structural change, and time series analysis.
  • BTM311   Intermediate Microeconomics
    • Intermediate Microeconomics offers a rigorous, analytical study of microeconomics. It is designed to give students a deeper understanding of the way our society allocates resources. While it is intended for students who have already taken the microeconomic principles course, that requirement can be waived with the permission of the instructor. The course begins by exploring the consumption and production decision of our society in competitive markets. It continues by looking at the welfare benefits of markets through a general equilibrium analysis. It investigates the impact that various market structures have on equilibrium outcomes, including monopoly, oligopoly, and monopolistic competition. Depending on the semester, additional topics can include, game theory, externalities, asymmetric information, and decision-making under uncertainty. This course provides the necessary theoretical background for students to continue their studies at a top graduate school in economics.
  • BTM312   Intermediate Macroeconomics
    • This course introduces mathematical macroeconomic models to understand the broad movements in the global economy. Key topics include long-run economic growth, technological change, booms and recessions, unemployment, inflation, interest rates, monetary and fiscal policy, and economic inequality. The Solow growth model, endogenous growth models, DSGE (Dynamic Stochastic General Equilibrium), and search and matching models in the labor market will be covered. By the end of the course, students should be able to read and understand the discussions of macroeconomic issues in The Economist, the New York Times, the Wall Street Journal, or the economic reports from the Bank of Korea.
  • BTM402   International Economics
    • The Theory and Policy of International Economics is a natural extension of the principles of economics in a globalized environment. The class is basically a combination of the study of theory and real world application. Occasionally, the group and individual presentation and debate will be introduced.
  • BTM408   Economics of Technology and Innovation
    • This course focuses on the effects of technology development on social welfare, social system, industrial structure, firm behavior in terms of economics perspective. This course deals with topics such as technology and economic development, technology and firm innovation, technology diffusion, technology innovation and policy.
  • BTM413   Industrial Organization
    • This course studies the application of microeconomic theory in market and industries. It analyzes market and industries in the paradigm of market structure-conduct-performance. It introduces various concepts of market structure and conduct: natural) monopoly, contestable market, entry barrier, economies of scale and scope, firm integration, price discrimination, tied sale, resale price maintenance market foreclosure, and other restraints on transactions. And it studies regulatory issues associated with the efficient and optimal market performances of industries.
  • BTM415   Game Theory
    • The aims of this course is to equip the students with the basic tools of game theory. This unit develops the basic models of strategic behavior in modern microeconomics. It builds a framework for the analysis in markets where the traditional price theory fails. Central in development are choice under uncertainty, choice in strategic situations and choice under asymmetric information. The theories are applied to the analysis of oligopolistic markets, markets for insurance, the theory of actions and other applications
  • BTM417   Financial Economics
    • Activities in financial markets have direct effects on individual’s wealth, the behavior of business, and the efficiency of our economy. This course is designed to investigate (i) the role of money on business cycle and inflation, (ii) the structure of financial systems and the foreign exchange markets, and (iii) conduct of monetary policy and budget deficit. (iv) In addition, this course will introduce central concepts of financial economics.
  • BTM418   Network Economics
    • This course aims to understand basic principles of network economics and study applications of the principles to real economies and business issues. We introduce the network concept, structure, and principles including network externalities, critical mass, excess inertia and excess momentum, increasing returns world, positive feedback, path dependent process, and so on. We apply those principles to various economic, business, and policy issues; technology adoption, standardization, spatial pattern, network trade, discrepancy and instability, systems failure, synchronization, self-organizing, complex network theory, etc.
  • BTM484   Special Topics in Economics
    • This course explores special topics of current interest, which can vary from semester to semester. This course may not be offered every year.
  • MAS250   Probability and Statistics
    • This is an introduction to probability theory. Topics include independence of events and random variables, various probability distributions, expectation, on, the law of large numbers, the central limit theorem, tests of hypothesis, the analysis of variance, and regression.
  • MAS350   Elementary Probability Theory
    • This course covers basic concepts and applications in probability theory. Topics include conditional probability and independence, expectation, various random variables and distributions, the law of large numbers, the central limit theorem, martingale theory, the Poisson process, Markov chains, Brownian motion, and stationary random processes. The course also includes inverse transform methods and rejection methods for simulation.
  • MAS355   Mathematical Statistics
    • This course covers basic theories for statistical methodologies and applications to engineering and applied sciences. Topics include basic theories of probability, random variables, probability distributions and their inter-relationship, average and variance, variable transformations, sampling distributions, estimation and hypothesis testing, the law of large numbers, two-dimensional distributions, decision making, linear models, and nonparametric methods.
  • MAS371   Introduction to Financial Mathematics
    • We introduce stochastic methods that are useful for financial markets. The concepts of financial terms will be explained and stochastic methods on how the financial market products are priced will also be introduced. Through this course, students are expected to learn how probability, statistics, and applied mathematics are used in financial markets.
  • MAS456   Statistical Methods with Computer
    • This course introduces data analysis methods using computer statistical program packages (Minitab, SAS, SPLUS, etc), and the main goal of the course is to teach and train students for effective analysis methods over a variety of data types and analysis purposes.
  • MAS471   Financial Mathematics and Stochastic Models
    • Students learn how to price financial derivative securities in a mathematical framework. Risk-neutral measures which are fundamental for the financial mathematics are introduced. The relevant probability theory is also explained. We start with discrete-time binomial models and arrive at the continuous-time stochastic models including the famous Black-Sholes PDE.