Background and Philosophy
Applied economics is a social science discipline that combines economic concepts and business practices in order to make the process of decision making more effective.
Management may be defined as a function that coordinates the effects of people to accomplish goals and objectives using available resources effectively and efficiently. Management comprises planning, organizing, staffing, leading or directing, as well as controlling an organization to accomplish an objective, a goal or set of goals.
After World War II, in the 1940’s, economist, Joel Dean, Ph.D. wrote and consulted with organizations by applying microeconomics, specifically the “theory of the firm” to improve the decision making process.
During the 1950’s, world-renowned, Peter Drucker, Ph.D. began to develop management theory and philosophy, for application in organizations. In the 1960’s the social sciences and mathematics were further integrated with finance, marketing and management thus creating additional perspectives in the decision-making process.
IUGS’s Management and Applied Economics Programme has a primary mission to enhance the student’s ability to serve his or her profession through graduate degree studies.
A secondary mission is to increase knowledge for the public and private sectors including, academia through publications and presentations.
II. Outcomes: For all courses, taken under the Dean’s supervision, and those courses accepted for advance standing, students will demonstrate the following: A. Comprehensive knowledge of management and economic theory and practice via literature review, and other sources of secondary and primary information; B. Thorough knowledge of research methodologies and techniques of management and applied economics; C. Well-developed critical thinking skills; D. Graduate level writing skills and oral communication; E. Ease with verbal discourse concerning subject matter as demonstrated at the Dissertation Defence or Oral Examination as well as any round table discussions with peers or faculty;F. A minimum of 85% mastery of examination materials.
The student’s portfolio and transcripts are examined by the Dean after discussion with the student to determine his or her goals.
Advance standing course credits totaling (66) for the Doctoral Degree and (27) for the Master’s Degree may be taken concurrently with the students other IUGS coursework. Students must complete the (66) advanced standing graduate credits for the Doctoral Degree and the (27) advanced standing graduate credits for the Master’s Degree prior to fulfilling their academic requirements in Management and Applied Economics.
The research I must be completed, approved, and filed before work on Research II begins.
The Graduate Seminar may be completed at any time during the student’s enrolment at IUGS but must be completed prior to fulfilling their academic requirements in Management & Applied Economics.
Instructional strategies include, but not be limited to:
Assigned readings of texts and academic journal articles;
Small group discussions;
Use of electronic media (Questia online library provided by the University and other data sources selected by student, mentor, and Dean);
Examinations: cumulative and comprehensive examination to ensure subject matter mastery.