Academics

College of Business & Economics

Introduction

The School of Economics and Finance has been striving to promote practical economic education by fostering economic knowledge that can be readily applied to real-world problems with a particular emphasis on finance and firms' behavior.

The School offers various curriculums, which allow students to be well equipped for the rapidly changing modern economic environment. Courses, among others, are offered on micro- and macro-economics, computer and statistical skills, financial practices, firm's activities, international economics, public economy, and economic history, and some courses are taught in English.

History

The School was founded in 1947 as the Department of Economics under the College of Business and Economics. The Department was expanded to the School of Economics and Finance in 2002.

Job Fields

There are three fields that our graduates go on to.
First is the finance sector including banks, securities and insurance.
Second is the public sector like government offices, government organizations and various public corporations.
Third is the manufacturing or the service sector, usually at management positions.
Students who desire to work at the finance sector usually acquire finance-related certifications such as CPAs, CFPs, AFPK, etc., before going to a job market.

Faculty

sorted by the position and Korean name

Curriculum

Major Of Economics And Finance
  • 1-1,2
    CurriculumThis table demonstrates the curriculum accroding to academic year.
    1- 1
    INTRODUCTION TO FINANCIAL ACCOUNTING
    This course provides an introduction to accounting within the context of business and business decision. The audience will explore accounting information’s role in the decisions marking process, and learn how to use various types of accounting information found in financial statements and annual reports. Understanding how accounting information can be used to make better business decisions will benefit all students, regardless of their major course of study or chosen career.
    1- 1
    SEMINAR FOR ACADEMIC LIFE
    1. Summary of the course This course is to assist university freshmen in CRM designing to adapt university life well through the instruction and counselling of supervising professor. (This course is composed of self analysis, personality type test, career research, instruction for the success of university life, career plan and direction setting, CRM designing method and CRM designing. The course should be teaching in classes of the students by supervising professor.) 2. Course objectives This course is to motivate the students before the mid term exam and provide students with self analysis, personality type test (MBTI or TCI) and career research (YAT test). Also, this course shall has a plan to instruct the students to enhance the efficiency of university life through career and time management. In addition, this course is to make a chance for the students to have practical assistance to university life by providing study method, report designing strategy and the information on academic system and various kinds of internal programs of the university. After the mid term exam, the students will be instructed to set the direction of career designing through continuous counselling of supervising professor and the students will be able to establish CRM designing and execution plan.
    1- 1
    SOFTWARE AND AI
    Software and AI (Artificial Intelligence) course aims to educate the basic concepts of software and computational thinking to use them in various applications. It allows students of various majors to experience the core technologies of the 4th industrial revolution, such as big data, machine learning, and AI. It also introduces various applications of AI so that students can easily apply these technologies to their field of study. This course classifies the lecture types into three categories, and adjust the lecture difficulty according to the student's academic ability.
    1- 1
    UNDERSTANDING IN BUSINESS MANAGEMENT
    The corporations in 21st century have been severely challenged by the accelerated changes in local and global business environments complicated with diverse issues from the political, economical, socio-cultural, and environmental aspects. The main reason of studying management is contributing to suggestion of directions and principles for solving diverse problematic phenomena faced in management practices and for further development of our society. The purpose of this subject is to teach students the overall management concepts and theories so that they could understand many management issues and deal with effective managerial decision making in management practices.
    1- 1
    UNDERSTANDING THE PRINCIPLES OF ECONOMICS
    By introducing students to the very basic economic principles, this course purpose to enhance student's ability analyze and synthetically understand the mode of human behavior in its economic aspects as well as the economic system. Detailed subjects to be dealt with in this course are as follows : the native and purpose of economics, the theory of demand and supply and its applications, the theory of consumers’and firms’behavior, the theory of competitive markets, monopoly, monopolistic competition, and oligopoly, etc.
    1- 2
    BIG DATA & INTELLIGENT INFORMATION SOCIETY
    This course provides a convergence perspective on the emergence of intelligent information society. Big data are increasingly important in the development of the field of artificial intelligence. Thus, students are expected to learn the use and role of big data in various contexts including public policy. The class highlights key trends in academy as well as industry. The course is designed to cover important subjects, for example, information visualization and smart factory. Finally, social inequality and digital divide are discussed in detail.
    1- 2
    SOCIAL CONTRIBUTION AND SERVICE
    This course is to cultivate community sense as members of society and the global village for students in order to develop the basic knowledge required as global citizens. Especially, this course is to foster the spirit of cooperation, sharing, service, and creativity and study the social contribution and leadership to solving the challenges the global community faces. As a liberal arts course, it is centered to nurture a leader having the global capability to contribute to community development through learning the knowledge and the case on the value & logic of social responsibility focused on environmental preservation, social contribution, and good governance(ESG). This course aims to foster a generous mind, learn knowledge and technology and build the capacity to contribute to building a society towards a safer and happier world through the study of theory and practice.
    1- 2
    UNDERSTANDING THE PRINCIPLES OF ECONOMICS (2)
    This course provides a basic understanding of macroeconomics. This is a sequential course following "Understanding the Principles of Economics", which covers basics of microeconomics. We will analyze social phenomena and real world economy by using economiclogic.
  • 2-1,2
    CurriculumThis table demonstrates the curriculum accroding to academic year.
    2- 1
    ECONOMIC ENGLISH
    The major purpose of this course is to help the students to acquire a solid knowledge in Economics English through exposure to materials written in English in areas such as money and finance, industries, economic systems, economic thoughts, etc. However, efforts will be made to accustom the students to a more desirable study method so that they can correct their pronunciation, enhance listening ability and develop speaking and writing abilities. Toward this end, emphasis will be placed on developing a multi-dimensional command of English which enables them to understand others and to make themselves understand by others rather than on acquisition of knowledge limited only to reading and comprehending.
    2- 1
    HISTORY OF ECONOMIC DOCTRINES
    By inquiring into the evolution of economic doctrines from the ancient to modern times, this course aims at making it possible for the students to understand how contemporary economics came to be shaped as its is now, and furthermore grope for a better economic theory. Starting from a comparative study of ancient Chinese, Greek and Christian economic thoughts, this course continually deals with medieval economic thought, mercantilism, physiocracy, classical and Marxism political economy and a brief outline of modern economic theories of some major schools.
    2- 1
    ECONOMIC DATA ANALYSIS USING COMPUTER (1)
    Economic data is a shelf full of valuable information. As an intermediate user of economic data, one should be able to extract useful information from raw data. Economic theory may not provide enough information for public to realize economic activities. For students, learning economic theory not supported by practical knowledge of economic activities is to try to get something out of nothing. In this course, we attempt to live with economic data and learn economic theory in practical sense. Topics to be covered are: (1) GNP accounts, (2) usefulness and drawback of economic indices such as GNP, GDP, CPI, unemployment rates and so on. (3) computational package such as Excel and RATS, (4) way to extract useful information from the data.
    2- 1
    MACROECONOMICS
    This course deals mainly with the problems of inflation and unemployment and focuses on how government policy can influence them. Heavy emphasis will be placed on a thorough understanding of basic analytical tools such as IS/LM framework and AD/AS model. Will center on an organized examination of the theoretical structure of different schools. Real world issues along with relevant data concerning the current state of the Korean economy will also be presented and discussed.
    2- 1
    MATHEMATICAL ECONOMICS
    The traditional starting point of production theory is a set of physical technological possibilities, often described by a production or transformation function. This approach to production theory ( primal approach) is constructed input demands and output supplies, expressed as functions of the technology and the economic environment. An alternative approach to production theory (dual approach) is to start directly from observed economic data -supplies, demands, prices, costs, and profits. Especially, the theory of production duality establishes that the two approaches are equivalent and equally fundamental. Using duality, the technology underlying an economic model can be reconstructed and tested for compatibility with physical laws, as necessary. This course aims to help students understand the theory of production from the standpoint of the dual -the relationships between economic observables which are dual to the physical technology. In this production economics, topics covered are divided into two main parts One contains the basic theoretical analysis of the duality of cost, profit, and production and a number of investigations of specific functional forms. The other contains the empirical applications using microeconomic data and macroeconomic data.
    2- 1
    MICROECONOMICS
    This course covers the general microeconomic theory of the behavior of individual decision-making units such as household and firm. Furthermore, the general equilibrium theory, welfare economics and information economics are also briefly introduced in this course.
    2- 2
    CAREER DESIGN
    1. Summary of the course This course is to let the students to set the career goal at the early stage of university life through systematic and continuous counselling and instruction on CRM achievement and change of career designed by the students after the admission to the university. This course is to let the students attain career management method and edit, complement and confirm the CRM in a systematic manner by self analysis and analysis of employment competence while the course is being taught. Also, this course is to utilize video lecture as the secondary teaching material to let the students have competency in employment. 2. Course objectives This course is to assist to the enrolled students in designing their own employment plan for themselves by the education of drafting application materials for employment (resume, statement of purpose and application forms), communication skills and presentation skills. Furthermore, the course ultimate goal of guiding the students to systematically design (manage) CRM at each grade of the university with the counselling by the supervising professor until the time of graduation.
    2- 2
    MONEY & BANKING
    Prolonging the basic understanding of the Macroeconomics, this course provide a more detailed analysis for the adjustment process of financial sectors and its meanings for the macro-economic process. For this objective, the demand and supply of various financial instruments including money and the interaction between various financial institutions and markets will be analyzed and majors macro-economic issues such as inflation, economic growth and interest rates, monetary policy, etc. will be treated also.
    2- 2
    ECONOMIC DATA ANALYSIS USING COMPUTER (2)
    This is a advanced corse of economics data analysis (1) and deals with more detailed contents about statistical and econometeric analysis including multple regression. All the lecture use the computer based skill such as microsoft excel program.
    2- 2
    MACROECONOMICS Ⅱ
    This course examines rigorously the development background and distinctive characteristics of the Classical School, the Keynesian School, the Monetarism and the New Classical School. Also covered are consumption theories, investment theories, money demand theories and money supply mechanism, growth theory, etc.
    2- 2
    MICROECONOMICS II
    Microeconomics Ⅱ covers those topics which are not dealt with in the course of microeconomics Ⅰ. This higher-level microeconomic course covers: ① a firm's decision over the production and pricing of its product under market structures other than two extremes; oligopoly and monopolistic competition, ② factor markets - labor and capital markets, ③ general equilibrium theory, ④ welfare economics and market failure, ⑤ asymmetric information theory, and etc.
    2- 2
    PRINCIPLE OF CORPORATE FINANCE 1
    This course aims to provide a comprehensive introduction to the decisions made by finance managers in various firms. These decisions include choosing between competing investment opportunities, asset valuation, measuring risk and return, financing of the firm's operations, dividend policy, and capital structure decisions among others.
    2- 1,2
    SPECIAL LECTURE SERIES
    This class offers special lectures by renowned people. These lectures are designed to provlde students with broad perspectives for planning their future career.
  • 3-1,2
    CurriculumThis table demonstrates the curriculum accroding to academic year.
    3- 1
    ANALYSIS ON INSURANCE MARKETS
    This course is an application of microeconomics, methodologically based on game theory, for economics majors. It covers the wide variety of topics of insurance economics in the area of theoretical parts such as optimal insurance contract, moral hazard and adverse selection, as well as empirical parts. Also it covers the basic concepts and principle of insurance, historical explanations about insurance and insurance industry. The aim of the course is to provide the students with a solid background of insurance economics as well as improving their thinking and problem solving skills in the area of insurance.
    3- 1
    FINANCIAL ACCOUNTING PRACTICE
    Corporations and financial institutes are the main units of production and employment in the economy, and the understandings on these economic players enhance the understandings on economics as a whole. Accordingly, the goal of this course is to understand corporations and financial institutes as important economic players in the concrete and practical way. For this purpose, this course focuses on developing students’ practical accounting ability based on the knowledge of financial accounting theory.
    3- 1
    INTERNATIONAL MONETARY FINANCE
    This course deals with not only the basic principals of international finance but also open economy macroeconomics comprehensively. The most important recent developments and policy, the cause of exchange rate movements, international policy coordination are discussed.
    3- 1
    INTRODUCTION TO FINANCIAL DERIVATIVES
    This course aims to provide an introduction to financial futures and options markets. It analyzes institutional aspects and social functions of these markets, pricing of options and futures, and risk shifting by hedging.
    3- 1
    PRINCIPLE OF CORPORATE FINANCE 2
    This course utilizes the basic concepts learned in the first sequence of Principle of Corporate Finance to discuss various topics such as asset pricing, capital structures, financial analysis, etc.
    3- 1
    TEACHING IN SOCIAL STUDIES
    This course aims to help develop basic understanding of the overall objectives of social studies education in secondary schools and the nature and composition of its curricula. It also intends to provide students with teaching and evaluation methods, and other educational methodologies for every disciplines or teaching areas in this field.
    3- 1
    THEORY AND APPLICATION OF BANKS
    This course is designed to study the business and management of commercial banks with a micro approach. The purpose of this course is to allow students to understand the banking business and foster the capability to evaluate the management performance.
    3- 1
    ECONOMETRICS
    The purpose of this course is to help students to better understand the econometrics techniques including simple and multiple regression model, simultaneous equations model and time series analysis, and to learn how to apply them to the empirical economic analyses.
    3- 2
    FIELD WORK
    The objective of this course is designed for the students in the major of Economics to achieve both the practical knowledge and the experience in the related job fields.
    3- 2
    GAME THEORY & INFORMATION ECONOMICS
    Game theory is getting popular in explaining oligopolistic markets, international trade,and even macroeconomic phenomena. This course provides students with a basic game-tools applicable to such a strategic environment. The course will put emphasis on examples of economic games, rather than on deriving and proving propositions. Students also will learn the role of information in the strategic environment.
    3- 2
    LABOR ECONOMICS
    Focuses on the operation of the labor market and impact of labor market institutions onlabor market outcomes. Topics include: labor econometrics; theories of wage determination; empirical analysis of wage differentials; evaluation of the impact of government labor market policies; models of trade union behavior and research on the impact of unions; unemployment; labor market segmentation and discrimination.
    3- 2
    REGIONAL AND REAL ESTATE ECONOMICS
    This course deals with the economic issues of the region in space based on the various economic theories, the importance of geographical and spatial factors of economic activity. Topics include an overview of regional and regional economics, location and zone theory, integrated economic and spatial interaction, regional labor market and growth theory analysis, regional economic analysis and policy, and real estate economics and policy issues.
    3- 2
    SOCIAL STUDIES-TEACHING MATERIALS RESEARCH AND METHOD
    This course aims to help examine the curriculum of social studies that are taught in the secondary schools?for the students in the middle school and the first graders in the high school. Those who take this course are also expected to get accustomed to the composition and contents of the secondary school social studies textbooks and to study diverse teaching and evaluation methods.
    3- 2
    THE COMPREHENSION OF CHINA ECONOMY
    This course attempts to provide overall analysis of the economy of the mainland China, which is the most populous country in the world and a neighboring country to Korea. This course covers the process of the economic development of China since 1949, when the Peoples Republic of China was established. In particular, the process of China’s economic reform will be the focus of the course, emphasizing its peculiarities being contrasted with the cases of the former Soviet Union and Eastern European countries. Also the Korea-China economic relations, which have been increasing remarkably, will be covered.
    3- 2
    THEORY OF INTERNATIONAL TRADE
    This course deals with the pure theory of international trade. It studies the classical, the neoclassical, and Heckscher-Ohlin trade model as well as New trade theory, analyzing the sources of trade, the determination of trade pattern, the determination of terms of trade, and the economic effects of trade.
    3- 2
    VENTURE PLANNING(CAPSTONE DESIGN)(1)
    This course is designed for the junior and senior level students in major of Economics both to understand theoretical knowledge and also to practice venture planning at the same time. With this course, focusing on the acquisition of various know-hows, knowledge&practical experiences in the real business field based on the understandings of systematic theories, students will have valuable insights and real opportunities to create venture.
    3- 2
    STOCK MARKETS AND INVESTMENT ANALYSIS
    This lecture is a core program in the financial education and consists of the following topics: - therotical analysis on the rational investment : portfolio theory, CAPM, APT, etc. - introduction on the financial devatives, - education on the institutional aspects of the various financial markets and the business practices of financial transaction.
    3- 2
    THEORY OF INDUSTRIAL ORGANIZATION
    This course focuses on theoretical and empirical issues related to market structure, including monopoly, oligopoly, concentration of economic power, market behavior affecting competition, impact of market structure upon resource allocation and social welfare, and policies toward monopoly and other competition-restricting behavior.
  • 4-1,2
    CurriculumThis table demonstrates the curriculum accroding to academic year.
    4- 1
    EAST ASIA REGIONAL ECONOMICS
    This course attempts to provide understanding of the economic issues of East Asia region especially China, Vietnam and other countries which get the attention from Korean companies. Main topics of this course include East Asian countries’ cultural characteristics, domestic markets, industries, and investment environment. Also the background and main features of the specific current issues in East Asian region will be analyzed.
    4- 1
    ECONOMIC POLICY
    Economic policies could be analysed by interdisciplinary studies. Focusing on those of market economy, we attempt to introduce basic elements of economic policies. Topics to be covered are; (1) the necessity of economic policy, (2) primary concepts, (3) economic growth policy, and (4) distribution policy. The first two are associated with theoretical views, while the latter two with current economic activities and are most likely open to debate.
    4- 1
    ECONOMICS OF LAW
    Law and Economics is the application of economic theory (specifically microeconomic theory) to the analysis of law. Law and economics offers a framework with which to model legal outcomes, and common objectives with which to unify disparate areas of legal activity.
    4- 1
    FIELD WORK
    The objective of this course is designed for the students in the major of Economics to achieve both the practical knowledge and the experience in the related job fields.
    4- 1
    SEMINAR ON ECONOMIC AND FINANCIAL ISSUES
    The course deals with economic and financial issues. Students are strongly encouraged to participate discussion, paper presentation, and group projects, since the course is not just an one-way lecture. This course is designed to analyze the economic and financial issues. The purpose of this course is for students to get the capability of adjusting economic and financial knowledge to reality and deepen their knowledge much more, by teaching them to analyze the current issues, based on the already learned economic and financial knowledge.
    4- 1
    SOCIAL STUDIES-LOGICS AND DISCOURSES
    Students in this course will examine diverse perspectives and theories in the various academic disciplines that are related to the social studies such as political science, economics, sociology, law, anthropolgy, geography and history. They will also study the unique characteristics and logics of the social studies subjects that are taught in the secondary school. This course thus aims to help students develop abilities to hold discourses with others in one's own logic.
    4- 1
    VENTURE PLANNING(CAPSTONE DESIGN)(2)
    This course is designed for the junior and senior level students in major of Economics both to understand theoretical knowledge and also to practice venture planning at the same time. With this course, focusing on the acquisition of various know-hows, knowledge&practical experiences in the real business field based on the understandings of systematic theories, students will have valuable insights and real opportunities to create venture.
    4- 1
    GLOBALIZATION AND KOREAN ECONOMY
    This course examines the implications of globalization on the Korean economy in various aspects. Topics to be covered are, inter alia, trade policies such as free trade agreements, trade liberalization and income distribution, foreign direct investment, and offshore outsourcing. This course expects students to actively participate in presentation and discussion of topics.
    4- 2
    ECONOMIC HISTORY
    The purpose of the course is to give students a thorough understanding of the economic development of mankind in historical dynamics and geographical variety. In particular, this course is mainly devoted to the study of transition to industrial societies and evolution to modern developed societies.
    4- 2
    ECONOMICS OF ENVIRONMENT
    Deals with basic theory for the maximization of social net welfare by means of optimum utilization of natural resources including environment.
    4- 2
    ECONOMICS OF PUBLIC HEALTH
    This course provides an overview of the healthcare system using a microeconomics tool. Students will be introduced to microeconomic theory and empirical studies that will deepen their understanding of how consumers, firms, and the government influence healthcareexpenditures, healthcare quality, and patient health outcomes.
    4- 2
    PUBLIC FINANCE
    A mixed economy consists of two sectors; private and public sectors. Public Finance explains the economic behavior of the public sector. The topics this lecture deals with are; ① the need for government intervention and the rationales for evaluating government policies, ② analysis of public expenditure which include public goods, public choices, externalities, redistribution of income, social insurance, and etc., ③ cost-benefit analysis as a practical rules for evaluating public expenditure programs, ④ analysis of tax revenue which include tax incidence, the impact of taxation on economic efficiency, optimal tax theory, the effects of imposing various taxes upon economic behaviors, and etc., and ⑤ international tax issues and local finance problems.
    4- 2
    SPORTS ECONOMICS

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