Major: Economics

Minor: Mathematics

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The Adventist University of Central Africa (AUCA) offers a major in Education with Economics to support the endeavor of the Rwandan Government to educate high school students with economic knowledge at the high school level. Through the Faculty of Education, AUCA not only is preparing future qualified high school teachers but also, it prepares students who will leave AUCA with economic background to become managers of Rwandan wealth by using the economic knowledge and skills that they will have learned at AUCA. The added professional courses in Education, will make students who graduate from the Faculty of Education with Economics to be tomorrow’s good administrators of Rwandan society.


The Bachelor degree of Education with Economics is designed to achieve the following objectives:

  1. To equip students with a strong economic theory background that is of value in thepromotion of growth of low developing country’s economics
  2. To offer advanced employable skills that can be used in the public private sector industry more especially in education industry.
  3. To equip our students with computer skills and knowledge that is relevant to economic planners of the modern world.
  4. The course also aims at equipping students with research and technical analytical skills essential to the development of our economies.
  5. The course also prepares students for graduate studies at later stages.

Structure and Requirements for Graduation

In order for AUCA student to graduate with the degree of Bachelor Education with Economics, he/she should complete the requirements as outlined in the above table and as described below.

General Education Courses

For the general education courses, check the section of general education requirements for more details.

Core (Professional) Courses

For the core (professional courses) in Education, check the section of core (professional) requirements for more details.

Major and Minor in Economics

For the Major (concentration) or Minor in Economics, check the following tables:

General Education Courses:  36 Credits

Course Code Name of the Course Credits
ENGL 100 English Level 0
FREN 100 French Level 0
MATH 100 Math Level 0
INSY 100 Keyboarding 0
ACCT 111 Principles of Accounting I 3
*ECON 112 Introduction to Economics 2
**PSYC 112 Introduction to Psychology 2
***EDPC 215 Human Developmental Psychology 3*
EDRE 113 Study and Research Methods 2
ENGL 114 English I: English Language and Grammar 2
FREN 115 French I 2
RELB 116 Introduction to Bible Study 2
STAT 121 Descriptive Statistics 3
ENGL 122 English II: Writing Skills 2
FREN 123 French II 2
INSY 124 Micro Computer Application 3
RELT 125 Bible Doctrines 3
ENGL 211 English III: Communication Skills 2
FREN 212 French III 2
HELT 213 Health Principles 2
RELT 221 Philosophy, Science and Religion 2
TOTAL            36

* is not taken by students of Business Administration.

                ** is only taken by students of Business Administration and students of Theology

                *** is only taken by students of Theology

List of Core (professional) Courses of the Faculty of Education

Course                 Code Course Title Credit
EDTE 223 Introduction of the Teaching Profession 2
EDTE 222 Instructional Technology 2
EDTE 312 Foundations and Principles of Curriculum 2
EDTE 311 Classroom Testing, Measurement,  and Evaluation 2
EDRE 323 Educational Research Methods 3
EDTE 224 Principles of Teaching 2
EDTE 422 Teaching Practice 3
EDPC 215 Human Developmental Psychology 3
EDPC 126 Educational Psychology 2
STAT 216 Inferential Statistics in Education 3
EDAD 214 Pedagogy and History of Education 2
EDAD 322 Sociology of Education 2
EDAD 413 Comparative Education 2
EDAD 321 Foundation of School Administration 2
EDAD 411 Educational Planning 2
EDAD 412 Economics of Education 2
EDAD 117 Philosophy of Education 2
EDAD 318 Entrepreneurship & Project Management 3
EDTE 423 Curriculum Development 2
Total     43


List of Major (Concentration) Courses in Economics

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List of Minor Courses in Mathematics for Economics Major students

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ECON 126 Microeconomics 3 credits

The purpose of the course is to give students a thorough understanding of the principles of economics that are applied to the functions of individual decision makers, both consumers and producers, within the larger economic system. The course discusses the Nature and Scope of economics, comparative economic system, elementary theory of price determination, the theory of demand and supply; utility theory, production theory: theory of the firm, Business organization, cost functions, Microeconomic policy; distribution theory and market structures.

ECON 216 Macroeconomics 3 credits

The course will concentrate on a general understanding of basic macro-economic concepts. Specifically, it acquaints the beginning student with an appreciation of the functions of economic systems, including various approaches to the organization of production and allocation of resources, and of policies to achieve national economic goals. These include the determination of national income, inflation, recession, unemployment, taxation, labor unions, environmental pollution, energy and economic growth. National Income: National Income Accounts, Consumption, Savings and investment Money and Banking, inflation, Unemployment, Money, Financial institutions and Banking and the concept inflation. Macro-Economics analysis in Market economic: Classical model: Monetary theory: Keynesian model; Consumption and saving theories; Money theories; theory of Inflation; Theory of International Economic Interdependence- Internal/External equilibrium-theory of unequal exchange; Growth theory and balance of payments.

ECON 325 Agricultural Economics 2 credits

This is an intermediate theory course in agricultural economics, dealing with economic concepts as applied to agricultural production and cost functions, managing and financing a farm business. The decision making process, farm management and economic concepts, the analysis of financial statements, farm planning and budgeting, input management, investment analysis, risk in financial management, the acquisition and cost of capital. It also examines the nature and organization of agricultural and food markets as economic institutions, application of economic theory to problems within the Agricultural-food marketing chain and the analyze Spatial and temporal price relationships, and the agricultural market structure.

ECON 416 International Economics 2 credits

This course is an introduction to modern international economic theories and practices. Theories of economic geography, international trade, comparative advantage, free trade, protectionism, regionalism, international finance, development economics, and transition to capitalism are examined. The course also discusses the role of various international organizations and trade agreements in the global economy; World trade organization (WTO), the International Monetary Fund (IMF), and the World Bank. International trade agreements; the North American Free Trade Agreement (NAFTA), the European Union (EU) and emerging agreements. The role of multi-national companies is also examined.

ECON 226 Statistics for Economists 3 credits

This module prepares students to describe, gather and analyze business data, and to use statistical tools to make. This unit aims to introduce students to statistical concepts, tools and procedures involved in the collection, presentation, analysis and interpretation of numerical data using basic statistical techniques so as to enable them make effective business decisions in varying business situations. Graphical and numerical methods of description statistics, frequency distribution, graphing techniques, measures of central tendency and probability and probability distributions are dealt with. Data collection; sampling in theory and practice: sampling concepts, estimating means and percentages and hypothesis testing. Other aspects of the course include probability theory, probability and probability distributions, probability and probability distributions, properties of mathematical binominal, normal, uniform, possession, chi- square, and probability distributions, sampling and sampling distributions, point and interval estimation, confidence intervals and tests of hypotheses. Significance tests for means and differences in means. Ordinary least squares regression and analysis of variance. Dummy variables. Common regression problems.

INTM 313 Intermediate Microeconomics 2 credits

In this course, students and teachers will explore the decision making of consumers and firms, and examine how markets allocate resources. They will begin by studying theories of the consumer and the producer. Next, they will combine both in the study of individual markets, including perfect competition, monopoly, and oligopoly. Following the study of individual markets, they will discuss how markets interact in the economy and emphasize the efficiency properties of the competitive system. The course will end with an analysis of some of the circumstances in which competitive markets may fail to produce efficient outcomes. Furthermore, teachers and students will discuss Theory of Consumption and Demand , Preferences and Utility Axioms of rational choice, utility function, Arguments of utility function, trades and substitutes, Indifference curve, IC and transitivity, Convexity of IC, Utility and MRS, Cobb-Douglas Utility function, Homothetic & Non-homothetic preferences, MRS with many goods Utility Maximization and choice. Utility maximization, budget constraint, Lagrange multiplier, Cobb-Douglas demand function, Indirect Utility function, Lump sum principle, Expenditure minimization, properties of expenditure function, Income and Substitution Effects. Demand functions, Homogeneity, change in income: normal and inferior goods, change in prices: Giffen’s paradox, Hicksian decomposition, Relationship between compensated and uncompensated demand curve, Slutsky decomposition, Demand. Elasticities, Relationship among demand elasticities, Engel aggregation, Cournot aggregation, Consumer Surplus.

ECON 225 Mathematical Economics 2 credits

This course explores the principal mathematic techniques used in economic theory and modeling. Review of calculus and matrix methods. Static analysis of partial and general market equilibrium. Comparative static analysis using differential calculus, including unconstrained and constrained maximization techniques. The envelope theorem and its economic applications. The continuity and differentiability of a function. Derivatives and the rules of differentiation. First and second order differential equations. Implicit and Inverse function rules, constrained optimization, the Lagrange multiplier. Differentiation of exponential, logarithmic and power functions. Methods of integration.

ECON 328 Computer Skills for Economists 3 credits

Computer applications (Word–processing/Spread sheets/Database management). Introduction to Data analysis software packages (e.g. SPSS, SHAZAM, CENTS, LINDEM, PCGIVE, SAS); Data coding, entry, organization and tabulation’ graphical representation; statistical analysis and econometric analysis.

INTM 324 Intermediate Macroeconomics 3 credits

This course focuses on the presentation and study of national income aggregates and accounting; equilibrium analysis of output, employment and the price level; general equilibrium analysis; and an introduction to economic dynamics. National income and circular flow of income, macro economics models, the basic integrated model (IS-LM analysis), Prices and employment, Theory of inflation, money and banking, balance of payments and trade theory, economic growth, contemporary economic issues (Structural Adjustment and Stabilization) programmes. The balance of payments. Foreign trade and the national economy. The supply of and demand for foreign exchange. The benefits of trade in static and dynamic setting. Shortcomings of the theory of comparative advantage. Import substitution and the export promotion. Terms of trade. The theory and practice of customs unions. Analysis of the international economy; Foreign exchange markets: spot exchange markets, foreword exchange markets and swap transactions, speculation; balance of payments accounts; balance of payments and income under fixed exchange rates; elasticity approach, the transfer problem, the Mundell-Fleming model, monetary approaches; floating exchange rates, optimum currency areas, monetary-asset approach; the world monetary system.

ECON 314 Econometrics 2 credits

This course presents a thorough coverage of the general and normal linear regression models. Then proceeds to deal with the standard methodologies for estimating variations of this model including autocorrelation and hetero-skedasticity, extreme multicolinearity, disturbance-related sets of regression equations, simultaneous equation bias, and simultaneous equation models. Introductory econometrics – correlation analysis – simple linear regression model. The general classical linear regression model; Violation of the assumption of the general classical linear regression model; Further problems in multiple regression – specification error, errors of measurement and instrumental variables estimation, qualitative regression and dummy variables; Formulation and estimation of special models; Simultaneous equation models; Econometrics analysis of time series.

ECON 327 Economic Development, Planning and Policy 2 credits

The courses focus on the context, theory, theories, processes, and practice of local economic development planning and policy. Topics covered include: differing theoretical and conceptual explanation of planning; Types of plans; Problem of planning; Policy analysis. Monitoring and evaluation, The concepts Budgeting, The concept project management. Index Numbers, Theory of taxation, social capital mobilization and management, Forecasting, decision theory, etc.

ECON 414 Public Sector Economics 2 credits

This course analyzes public expenditures, revenues, debts; their causes, distribution and trends, effects upon the economy. Emphasis is on the public finance and the study of state and local revenues, expenditures, fiscal administration and policies. Discussion will also focus on theory of public finance and the main problems involved; public finance problems of developing countries; monetary policy and central banking and international monetary problems and proposals. The pattern of expenditure and taxation in East Africa in the context of economic development. The practice of government budgeting expenditure and taxation in East Africa.

FNCE 316 Money and Banking 3 credits

The course features the nature and qualities of money, commercial banking, operation and controls of central banks such as the National Bank of Rwanda. The course also focuses on the U.S. Federal Reserve System, money and credit circulation, and effects of monetary policies.

SMTE 317 Special Methodology of Teaching Economics 2 credits

This course deals with methods of teaching English in the Secondary Schools. Concepts such as teaching strategies, teaching and learning materials (use of charts, images, life experiences, etc) are discussed. Under the leadership of the main teacher in this course, students are expected to design a lesson plan of English and all the teaching and learning materials that illustrate the lesson. Micro teachings or onsite teaching could be organized by the teacher.

EDRE 421 Research Project (Memoire) 6 credits

This course deals with a research problem that a student develops while taking classes at AUCA. The problem is approved by the Faculty of Education. After approval, the student writes the introduction, reviews the literature related to the topic, writes the methodology in which the student shows how the data will be collected, collects the data, analyzes and interprets results and then gives appropriate conclusions and recommendations. This course is taken towards the end of the study.

MATH 111 Business Mathematics 3 credits

The following must be controlled because they are essential in various courses: logarithms, progressions, combinatorial analysis, determinants, matrices, functions, derivatives and integral calculus. Applications should be concentrated in the commercial field.