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Course Details with Online Syllabus:
MBA-ECO: Economics Module

Course Code MBA-ECO
Course Name Economics Module
US Credits (USCH) 5
ECTS 5 x 1.5 - 1.7 (see Academic Standards)
Main Prerequisite None
Regular Instructor / Assigned Faculty (responsible for student interaction, validation and grading of student assignments, constructive feedback, oral examinations)

Winston Dookeran

Note: see biography under Faculty Profiles

Faculty Coordinator (responsible for entry and exit coordination and interfacing between student and instructor(s))

Laurent Cleenewerck

Note: see biography under Administration

Syllabus Specialist (responsible for maintaining syllabus database and implementation of revised standards)

Ghebrehiwet Ghebremedhin

Note: see biography under Administration

Language for this course code E

General Concepts and Guidelines:

It is important to note that EUCLID functions under an intergovernmental mandate to deliver programs of higher education that conform to international standards and that are fully documented (Statutes IX). Accordingly, a standard 3 USCH course,which is at least equivalent to 4.5 ECTS, represents a number of classroom instruction hours equivalent to 3 x 12.5 = 37.5 hours (lower base line) – 3 x 14 = 42 hours (higher base line).

Even in the case of courses for which lectures (audio / video) are available to cover the entirety of the material, reading assignments are mandatory.

In the case of courses that are primarily delivered by means of reading assignments, EUCLID considers that a standard 3 USCH course should correspond to approximately 600-800 pages of intense, directly relevant readings. This is consistent with generally accepted standards applicable to the USCH and ECTS systems. Moreover, EUCLID favors full textbooks over compiled chapters from heterogeneous sources.

For practical and organizational reasons, this study workload is structured in the format of one semester (about 15 weeks). This logical ‘semester’ is organized in 7 periods of ‘2 weeks’ each, the last one being a buffer and final study period. Because EUCLID has a primary mandate to serve busy government officials for its Participating States, these periods are presented as a structured approach rather than as an enforced set of deadlines. In practice, then, a student may take more or less than 14 weeks to complete the course because the intention is not to reproduce an actual semester but rather to offer a logical breakdown of the course over a flexible span of time.

In all cases, all the assignments must be submitted, approved and graded for the course to be completed.

It must be noted that EUCLID guidelines require that a comprehensive oral examination take place upon completion of all other assignments in order for the final grade to be posted and for the course to be formally completed.

See also: Academic Standards

How to Use this Syllabus:

This standardized syllabus is your study guide for this course.

Most EUCLID courses require the sequential reading of the textbooks (and other materials) listed below. By “reading,” we do not mean mere casual reading but rather intense studying with an effort to memorize (highlighting with comments and taking notes is highly recommended).

The “Course Materials” may include textbooks as well as other types of resources including MP3 downloads, webcasts, compiled PDFs, etc.

It is the responsibility of the student to obtain the Course Materials. In most cases, the resources requires for the course are available from the EUCLID online library.

Once you have completed the reading of the course materials, you must contact your course instructor or coordinator to discuss the proposed theme of the required major paper(s).

Even though the quiz assignment is sometimes considered or listed after the major papers, it is advisable to complete this assignment prior to starting work on the paper(s).

For each quiz questions, do not forget to provide a footnote reference to where (text, page) the correct answer can be found. Remember that the instructor will evaluate your ability to create intelligent questions spanning all required textbooks, offer plausible answers, and properly footnote the textbook reference.

For the paper(s), do not forget that you must comply with all ACA-401 guidelines and requirements. Always refer to the latest Word template and ACA-401 checklist which can be found on the Egnyte Platform.

Student Responsibilities:

  • Read (study) all reading assignments carefully and intensely in order to be able to memorize, re-express, inter-relate and engage the information provided.
  • Write biweekly short reaction papers (“journals”) on the assigned readings, not longer than two single-spaced pages.
  • Write 1 or 2 (as directed) high quality, publishable major papers that meet ACA-401 guidelines and that provide several properly formatted citations to the textbooks.
  • Create a quiz that demonstrates your ability to create intelligent questions with plausible answers, and provide footnotes to the correct answers.
  • Prepare carefully for the final oral examination by re-reading the required textbooks. This is not an open book exam and you should have memorized the key terms and concepts in order to be able to offer a professional articulation and presentation when examined by the instructor.

General Course Description:

This module allows students with a basic knowledge of economics (or who may not have had a recent exposure to the field) to experience an intense crash course covering:

- History of Economic Theory

- Principles of Micro and Macro Economics using a classing under-graduate textbook

- Economic history of the United States

- "Austrian" economics

- Current issues

Course Objectives:

- To become familiar with the great economists of the past two centuries

- To know the basics of economic theory and political views

- To articulate economic concepts and terminology

- To be able to explain current issues

- To be able to write an economics paper at the graduate level

Course Outcomes:

Upon completion of this course, the student is expected to able to:

The student is able to discuss global economics, both in terms of phenomena and underlying theoretical explains, at the graduate level.

The student should be able to explain the enduring contribution of the great economists and to articulate the fundamental differences between the various political perspectives on economic theory.

The student should be able to write a compelling paper dealing with economic issues, using suitable references to support his/her analysis and arguments.

Required Readings and Resources:

Teaching Company lectures listed above 


 -  Principles of Economics, 3rd or 4th Edition by N. Gregory Mankiw 

How An Economy Grows and Why It Crashes by Peter Schiff 

- Economics in One Lesson (Available here: www.hacer.org/pdf/Hazlitt00.pdf) by Henry Hazlitt 

Chris Marteson’s Crash Course (online videos, also available as a book)               


- MP3s: Students must listen to the past 4 months of Financial Sense podcasts (except the 1st Hour FS NewsTeam which is the weekly review) and the following:  http://www.financialsense.com/asktheexpert/archive.html




       Amerman, Daniel R. 11/22/08 Topic: Credit Default Swaps and Deflation

Blanchard, Roger D.  02/03/07 The Future of Global Oil Production

Chaze, Aaron 02/10/07 India: An Investor's Guide to the Next Economic Superpower

Clark, William R. 01/28/06 Petrodollar Warfare: Oil, Iraq and the Future of the Dollar

Drobny, Steven 08/12/06 Inside the House of Money

Dubil, Robert  07/09/05 An Arbitrage Guide to Financial Markets

Fisher, Ken 01/24/09 The Ten Roads to Riches: The Ways the Wealthy got there...

Froehlich , Dr. Bob  04/08/06 Investment Megatrends

Hartcher, Peter 09/09/06 Bubble Man: Alan Greenspan and the Missing 7 Trillion Dollars 

Klare, Michael T.  10/25/08 Resource Wars: The New Landscape of Global Conflict

Klare, Michael T.  06/21/08 Rising Powers, Shrinking Planet: The New Geopolitics of Energy

Morris, Charles R.  05/25/08 The Trillion Dollar Meltdown

Nolte, Paul 02/23/08 Economy Roundtable

Panzner, Michael 02/21/09 When Giants Fall: An Economic Roadmap for the End of the American Era

Perkins, John 05/07/05 Confessions of an Economic Hit Man

Reingold, Dan 04/22/06 Confessions of a Wall Street Analyst

Schiff, Peter 03/10/07 Crash Proof: How to Profit from the Coming Economic Crash 

Wiggin, Addison 12/17/05 Empire of Debt


- MP3 lecture(s) / podcast(s) (London School of Economics)

-  Common Wealth: economics for a crowded planet

-  A World Economic Order Based on Cultural Comparative Advantage

-  Behavioral Economics: Common Mistakes in Daily Decisions

-  The Logic of Life

-  An Open Economy – the Progressive Response to Global Change

-  The Psychology of Saving and Investment

-  Knowledge Economies in China

 At: http://www.lse.ac.uk/resources/podcasts/publicLecturesAndEvents.htm    

Supplemental Readings and Resources:

Not applicable to this course. Please ask the instructor if you would like to receive a list of supplemental resources.

Useful Templates and Resources:

Word Template Use this single-spaced template (DOCX) for Response Papers
Word Template Use this double-spaced template (DOCX) for Major Papers
Quiz Template Use this single-spaced sample (DOCX) for the Quiz
Sample RP This is a sample response paper for ACA-401
Sample MP This is a sample major paper for DIP-401
Checklist This PDF is a checklist to use before submitting a paper

Organization and structure of course studies:

Period 1 (Typically, weeks 1-2)
Reading Assignments Economics by Timothy Taylor
MP3s or Videos MP3 or MP4
Method of Instruction Multimedia
Tasks / Assignments Study course material + writing response paper 1
Deliverables Response paper 1

Period 2 (Typically, weeks 3-4)
Reading Assignments Legacies of Great Economists by Timothy Taylor
MP3s or Videos MP3
Method of Instruction Reading/Listening
Tasks / Assignments Study course material + writing response paper 2
Deliverables Response paper 2

Period 3 (Typically, weeks 5-6)
Reading Assignments History of the U.S. Economy in the 20th Century by Timothy Taylor
MP3s or Videos MP3
Method of Instruction Reading/Listening
Tasks / Assignments Study course material + writing response paper 3 + Work on first major paper
Deliverables Response paper 3

Period 4 (Typically, weeks 7-8)
Reading Assignments Modern Economic Issues by Robert Whaples
MP3s or Videos Video
Method of Instruction Multimedia
Tasks / Assignments Study course material + writing response paper 4
Deliverables Response paper 4 + Submit first major paper

Period 5 (Typically, weeks 9-10)
Reading Assignments Principles of Economics, 3rd or 4th Edition by N. Gregory Mankiw
MP3s or Videos N/A
Method of Instruction Reading
Tasks / Assignments Study course material + writing response paper 5
Deliverables Response paper 5 + Start work on second major paper

Period 6 (Typically, weeks 11-12)
Reading Assignments How An Economy Grows and Why It Crashes by Peter Schiff + Economics in One Lesson (Hazlitt)
MP3s or Videos The
Method of Instruction Multimedia
Tasks / Assignments Study course material + writing response paper 6 + Make appointment for interview (final exam)
Deliverables Quiz + Response paper 6 + Submit second major paper

Period 7 (Typically, weeks 13-14)
Reading Assignments Reviewing all reading materials (catch up on previous readings)
MP3s or Videos MP3, Video
Method of Instruction Reading/Listening/watching
Tasks / Assignments Conduct Final Exam (Interview)
Deliverables Submit all assignments due - course completion

Special Course Comment / Review of Required Assignments to Complete Course:

 This module is designed to be a comprensive and intense exposure to Economics which requires complete dedication and interest.

In addition to the short response papers, the standard required assignments are:


The student must create a multiple-choice or missing word quiz with 10 questions, based on the textbook(s), and with footnoted references to the correct answers (with page number in textbook).

A sample is available at http://www.euclid.int/syllabi/quiz.docx  and can also be found on the Egnyte platform under Courses > ACA-401

Major paper(s):

This course requires the presentation of 2 major paper(s) (standard length is 12-24 pages using the MP template which is double-spaced).The theme is the student’s choice, but must be selected and confirmed in consultation with the assigned instructor, and be based on the required study materials.

The major paper(s) must (1) comply with all ACA-401 guidelines (2) make at least 3 properly formatted references to the textbook(s).

Final Examination:

Once the paper(s) and quiz have been submitted, this course is capped by an extensive oral examination and interactive interview conducted by the assigned instructor using web-conferencing technology (WebEx, Skype).

Composite Evaluation and Grading:

  • 10% of the final grade is based on the response papers
  • 60% of the final grade is based on the major paper(s) and quiz
  • 30% of the final grade is based on the final oral exam / closing interview.

Failure to obtain a passing grade on the final oral exam will result in course failure.

Standard grading scale and academic policies apply to this course.

Standard EUCLID Grading Scale:

Even through there is no internationally standardized grading system, EUCLID uses a scale that is fairly standard, namely:

  1. Grades are numeric (0 – 4) and convertible to letters (F – A)
  2. A+ is a novelty and is not used
  3. EUCLID has a strict grading policy and does not engage in ‘grade inflation’
  4. Grading is based on standards, not ranking within the group
  5. Because of (3), 2.35 or C+ is the pass standard for all courses, provided that a full academic review of all grades under 2.5 conclude that the student does meet requirements for graduation.

Numeric grades are converted to letter grades as follows:



Explanation / Standards



All objectives are fully met



All objectives are fully met with minor suggestions for improvement



Rarely used: All objectives are fully met with minor suggestions for improvement



All objectives are met with specific suggestions for improvement



Satisfactory output, but improvement are expected to fully meet all the objectives of the program


Almost B

Rarely used: Satisfactory output, but improvement are expected to fully meet all the objectives of the course(s)



Passing but less than satisfactory output. Improvements in more than one course standards are expected to fully meet all the objectives of the course(s)

2.5 - 2.35


Minimum passing grade: Improvements are mandated in more than one course standards are expected to fully meet all the objectives of the course(s)



Failing grade: does not meet mandatory objectives of the course(s)



Failing grade: does not meet in any way the objectives of the course(s)



Assignment to does meet in any way the objectives of the courses or contains plagiarism / academic violations




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Email: info@euclid.int

Institutional High Steward: President Faustin Touadéra, PhD (Mathematics; Lille, France)

Diplomatic and Academic High Steward: Ambassador Juan Avila, PhD (Education; Fordham, USA)


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