SMU SCHOOL OF

ECONOMICS
Supplies a high degree of academic rigour; puts you in high demand by employers

Market-Responsive Broad-Based Innovative & Specialised

Curriculum
Our students are thoroughly
equipped with up-to-date
industry knowledge and
quantitative skills.
Flexibility
Our double major/degree options
provide students with greater
flexibility in career choices.
Integrative
Our courses integrate the latest
research, analytical methods
and applications to current
economic issues.
Economics Track
Our students have the opportunity
to opt for the Quantitative
Economics Track which deepens
their analytical competencies.
SMU SCHOOL OF ECONOMICS 1

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 D E A N ’ S A D D R E SS T
(E
SMU was envisioned to be the institution that would alter the higher Our curriculum is both academically rigorous and flexible. It is The
education landscape in Singapore, setting a new style and a higher designed to give you a foundation of economic knowledge and Our
standard for learning. And for 16 years now, SMU has successfully methodology on which you can layer more focused combinations think
prepared students to be both “market-ready” and “future-ready” of study according to your areas of interest. The core provides a meth
regardless of their interests and choice of career paths—graduates broad understanding of the reach of economics, the frameworks and
who are well equipped not only to enter the workforce but also to for organising thinking about economic questions, and the fram
handle the challenges of a complex and changing world. most commonly used methods for solving economic problems,
including experience with empirical techniques for the analysis and Qua
In the School of Economics you will benefit from active participation interpretation of economic data. The elective courses will provide
With
in discussions and group projects rather than a one-way passive you with more specialised knowledge, ranging from advanced
for r
transfer of head knowledge. You will have the advantage of theory and international trade and finance to applications in
Econ
interacting closely with our talented and experienced faculty, who important fields such as health economics, real estate economics
Emp
are themselves actively contributing to the development of new and urban economics.
whic
knowledge and methodology. They bring expertise and experience
our
that enrich the seminar-style discussion with the latest thinking I look forward to welcoming you to our School for this next
econ
about economic issues. significant and memorable stage of your learning journey.”

Your learning journey with us will equip you with the ability to Bro
‘think like an economist’ and with the skills, content knowledge Professor Bryce Hool Hum
and structures that can be applied to understand and analyse Dean Econ
real-world problems and issues, whether they be of global import School of Economics with
or encountered as part of daily life. Our graduates are highly sought Mat
after. Most are employed by governmentment agencies and private curr
sector organisations such as financial al institutions and consulting stud
firms. Others use their economics training
raining as the underpinning for exch
entrepreneurial pursuits or as their entrée to postgraduate studies
in leading universities around the world.
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 THE SMU BACHELOR OF SCIENCE
( E C O N O M I C S ) A D VA N TA G E
The Economic Perspective
Our rigorous curriculum is designed to train students to
think about real-world issues and equip them with a unified
method to solve them. Our students are empowered to read
and anticipate both local and global trends with the robust
framework of an economist.

Quantitative Knowledge to Solve Real-Life Problems

With strong foundation courses and elective courses designed
for relevance, such as Real Estate Economics, Health
Economics, Economics of Ageing, Economics of Politics,
Empirical Industrial Economics, and Organisational Economics,
which are rarely found in other undergraduate programmes,
our students are exposed to a wide range of applications of
economic principles to current global issues.

Broad Understanding of Society and

Human Behaviour
Economics is about addressing questions in the social world
with data and sound logical thinking. This requires the use of
Mathematics and Statistics whenever needed. Our rigorous
curriculum encompasses all these aspects and prepares our
students for their experiential learning through internships,
exchange programmes and community service projects.

Impressive Career Placements

The strength of our programme is demonstrated by our
graduates’ success in their job placements and development
in career paths that include banking and finance, consulting,
media, communications, retail, real estate, IT, manufacturing,
shipping, and the public sector. Our graduates are employed
in top local and global organisations that include Goldman
Sachs, Credit Suisse, Singapore Exchange, Development Bank
of Singapore, Citibank, McKinsey, PricewaterhouseCoopers,
Bain, Accenture, Ministry of Finance, Monetary Authority of
Singapore, Ministry of Health, Ministry of Trade and Industry,
Singapore Economic Development Board, amongst others.

Our graduates also pursue their postgraduate studies in leading

universities around the world, including:
• Columbia University
• London School of Economics and Political Science
• New York University
• Northwestern University
• Oxford University
• University of Michigan
• University of Minnesota
• University of Pennsylvania – Wharton School
• University of Southern California
• University of Washington

SMU SCHOOL OF ECONOMICS 3

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 CURRICULUM E
The curriculum consists of 36 course units and a 12-week internship, and is reinforced by global exposure. Our
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Foundation Courses University Core SMU Internship
(3 courses) (4 courses) Programme eco
Eco

Economics Core Economics Electives Economics Options

(5 courses) (8 courses) (7 courses)

Modes of Technology General

Globalisation Asian Studies Entrepreneurship
Thinking Studies Education
(1 course) (1 course) (1 course)
(1 course) (1 course) (4 courses)

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Internship and Community Service Global Exposure
Econ
An important feature of our Bachelor of Science (Economics) curriculum We have a passionate commitment to broaden the horizons of our
spec
is the internship programme. Every student is guaranteed an internship students through at least one overseas experience, particularly through
econ
in one of our partner network of established organisations in the private the university’s International Programmes. Studying abroad can be an
com
and public sectors, both local and international. Our programme aims enriching cultural and academic experience that offers endless benefits.
econ
to provide a deeper cross-cultural appreciation of business practices You can choose to undertake an exchange programme for at least a term
requ
and research as well as the opportunity for work experience and future in any one of our more than 210 partner universities across 46 countries.
employment prospects. The minimum duration of the internship is 12 Aside from the opportunity to experience university life overseas, these EITH
weeks, of which two weeks must be dedicated to community service. This programmes help to develop your global perspective on different cultures, •
experience of community involvement reinforces the importance of being educational systems and work practices.
civic-minded citizens of society. OR

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 E C O N O M I C S C U R R I C U L U M ST R U C T U R E
Our Bachelor of Science (Economics) is a 4-year programme. It is carefully designed to provide you with a strong
understanding of modern economic theory, inculcate independent thought about economic policies and problems,
develop the capability for quantitative research, and provide descriptive knowledge about the local and global
economies. The programme consists of the Economics Core (5 courses), Economics Electives (8 courses), and
Economics Options (7 courses).

Economics Core • International Trade AND International 14. Industrial Organisation

The Economics Core lays a broad foundation
for the study of economics. It has 5
compulsory courses:
1. Introduction to Statistical Theory
2. Intermediate Mathematics for Economics
3. Intermediate Microeconomics
4. Intermediate Macroeconomics
5. Introduction to Econometrics
Economics Electives
Economics Electives provide you with
specialised knowledge in various fields of
h 7. Economics of Ageing
economics. A total of 8 courses must be
completed, including an international
s.
economics component. To satisfy this
rm
requirement, you may take:
es.
EITHER
es, • International Economics B plus 7 other
Economics Electives
OR
Macroeconomics plus 6 other 15. Labour Economics
Economics Electives
16. Macroeconomics of Income Distribution
17. Maritime Economics and Shipping
The set of Economics Electives is a rich menu
Finance
of courses offering a wide range of topics to
choose from. Some examples are: 18. Monetary Economics
1. Advanced Macroeconomics 19. Organisational Economics
2. Advanced Microeconomics 20. Political Economy of Globalisation
3. Development Economics 21. Port Economics and Management
4. Economics of Asymmetric Information 22. Public Sector Economics
23. Real Estate Economics
5. Economic Aspects of Maritime Law
24. Urban Economics and Policy
6. Economic Forecasting
8. Economics of Politics Economics Options
A total of 7 courses must be completed in
9. Economics of Privatisation, Regulation
this category. You may choose courses from
and Competition Policy
among Economics Electives or courses from
10. Empirical Industrial Economics
any of the other Schools for which you satisfy
11. Environmental Economics
the prerequisites.
12. Game Theory
13. Health Economics

SMU SCHOOL OF ECONOMICS 5

Singapore Management University 5

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 S P E C I F I C A L LY D E S I G N E D P R O G R A M M E S
AND ECONOMICS HONOURS
Within the Economics major there are some specifically designed combinations of courses.
Quantitative Economics Track
The Quantitative Economics track (QET) is
designed to respond to the increasing demand
from industry, government and academia
for graduates with the knowledge and skills
required for technical analyses of economic
situations and issues. This track is ideal for
students who are interested in:
• becoming professional economists in the
government or private sectors;
• pursuing a more technical career path in
industry;
• pursuing graduate studies in Economics or
in Finance;
or simply increasing the scope and depth of
their knowledge in the quantitative aspects of
Economics.
The choice of Economics courses is guided to
place more emphasis on the development and
application of quantitative methods. Students
who opt for this track will take the more
quantitative international economics options
which provide the training for conducting in-
depth analysis of international trade and finance
issues, while a deeper foundation in economic
analysis and a higher level of technical
competency will be achieved through advanced
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Maritime Economics Concentration
The Maritime Economics Concentration (MEC)
is designed to give our students a distinctive
preparation for maritime-related roles in
industry and government organisations such as
the Maritime and Port Authority of Singapore
(MPA). Building on the foundations established
in the major, the MEC develops essential
knowledge and contextualised skills relevant
for analysis of economic issues in the maritime
sector. Singapore is one of the world’s great
maritime hubs and there is a strong demand for
graduates with this preparation across a variety
of careers in the sector. MEC students will have
access to industry scholarships and experiential
learning opportunities including industry
study missions, site visits, local and overseas
internships, and noncredit courses presented by Eco
leading practitioners. To b
courses in the core areas of microeconomics,
macroeconomics and econometrics. GPA
The MEC requires the 5 courses in the com
Economics Core and a minimum of 4 courses in
The compulsory courses for the QET are the addi
Maritime Economics:
5 courses in the Economics Core plus the in th
following 5 courses from Economics Electives: 1. Maritime Economics and Shipping Finance
1. International Trade 2. Port Economics and Management Sec
2. International Macroeconomics 3. Economic Aspects of Maritime Law You
4. One or more electives from a specified set Actu
3. Intermediate Econometrics
of courses relevant to the maritime industry of th
4. Advanced Microeconomics
• A
5. Advanced Macroeconomics In addition to satisfying the remaining • A
requirements for Economics Electives and
In addition, our students must complete their • A
Economics Options, MEC students must also
Economics major requirements with any 3 •
complete 3 non-credit courses. These courses
courses from Economics Electives and any 7 are designed to provide in-depth practical •
from Economics Options. •
knowledge of key aspects of the maritime
industry. •
•
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EC)
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ed by Economics Honours Programme competent execution of analysis and correct interpretation of results. The
To be enrolled in the Honours programme, you must have achieved a APS major covers a wide range of fundamental statistical concepts and
GPA of at least 3.40 in a specified set of Economics courses. You must techniques, such as estimation, hypothesis testing, regression analysis,
complete the Senior Thesis Seminar (equivalent to 2 course units) and stochastic modelling, statistical computing, time series analysis, survey
es in additional Economics Electives while maintaining a GPA of at least 3.40 methods, forecasting, etc. These tools can be effectively applied to
in this set of courses. different business areas such as finance, economics, risk management,
nce actuarial science, marketing research and manufacturing processes.
Second Majors
Second Major in Actuarial Science (ACS)
You may also choose a second major within the School of Economics, in
Actuarial Science or Applied Statistics, or select a second major from one Modern actuarial training requires multidisciplinary knowledge such as
set
of the other Schools. Examples of second majors include: probability, statistics, finance and accounting. The Actuarial Science (ACS)
ustry
major reflects this by incorporating various interdisciplinary courses in the
• Accounting
programme. Students taking this major can choose either the Actuarial
• Actuarial Science, with Actuarial Analyst or Risk Analyst Track Analyst (AA) or the Risk Analyst (RA) track, with slightly different focuses
• Applied Statistics in their applications. This programme has gained accreditation of the
o
• Corporate Communication Validation for Education Experience (VEE) of the Society of Actuaries
ses
• Finance (SOA). It also provides training for students to sit for the SOA
Preliminary Examinations.
• Information Systems
• Legal Studies
Double Degree
• Marketing
The double degree programme provides students with added flexibility in
• Organisational Behaviour and Human Resources their career options. Under the double degree programme, a student can
• Political Science graduate with two degrees in:
• Psychology • Economics and Accountancy
• Sociology • Economics and Business Management
• Economics and Information Systems
Second Major in Applied Statistics (APS)
• Economics and Social Sciences
The second major in Applied Statistics (APS) builds upon a firm foundation
• Economics and Law (Law must be the primary degree)
in statistical theory to develop applications related to the collection,
analysis and interpretation of data for making the best decision under
uncertainty. Students in the APS major will be equipped with quantitative For more information on our curriculum, please visit our website:
skills and knowledge for the identification of appropriate techniques, www.economics.smu.edu.sg

SMU SCHOOL OF ECONOMICS 7

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 HEAR FROM OUR ALUMNI

My time in SMU School of Economics has helped me to sharpen the way I look at various issues,
arming me with decision making skills. I am able to balance the benefits and costs whenever we
come up with new initiatives or solutions. In a way, in addition to the innovative thinking encouraged
by other university courses, I find myself grounded in “an economic way of thinking” trained from all
economics modules. These modules help me to develop the ability to look at an issue from a macro
perspective and to drill down to the micro details so that I can get a more complete picture whenever
I assess the feasibility of a policy initiative. Moreover, the statistical and modelling knowledge that I
have learnt in economics modules is helpful in my career. When bombarded with data, I am able to
conduct useful data analysis to support my proposed solutions quantitatively (be it in policy initiatives
or in supervisory work analysis).

Ang Ziqin
Associate, Monetary Authority of Singapore, Graduated in 2014

SMU’s School of Economics provides an all-rounded education with a wide selection of courses
for students to equip themselves for a successful career in either the public or the private sector.
For me, the education I received at the School has helped me appreciate the drivers of societal
and market trends better and allowed me to accurately identify intervention points for robust policy
making. The small class size and interactive learning methods offered also helped me to develop
the necessary skills to create win-win relationships and work effectively in teams. In addition, the
courses offered are also sufficiently in-depth and applicable and this allowed me to hit the ground
running when I joined the workforce.

Yam Yujian
Director, Property Research, Urban Redevelopment Authority, Graduated in 2008

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 Reading Economics at SMU has helped me develop a structured thinking process, through the exposure
to different frameworks and models. I found these models to be extremely interesting as they gave
me a different lens of viewing and perceiving the real world each time. This, coupled with the relevant
quantitative skills I picked up, are especially useful in the workplace when one works with large data
sets to draw meaningful conclusions. In addition, I also greatly enjoyed the interaction I had with my
professors during my time in SMU. This was only possible through the openness of the professors to
interact with students, which I found particularly enriching.

Sidney Loo Jian-liang

Financial Analyst, Total Trading Asia, Graduated in 2014

The courses that I’d studied under my double degree Bachelor of Economics and Business Management
(Operations) allowed me to hone my analytical skills and broadened my perspectives on consumer
behaviour and organisational management. Upon graduation, I joined a local start-up which had a core
retail business, and was one of their first employees. It was rewarding to be able to apply key concepts
and skills in my work and contribute towards the company’s expansion and growth. However, the most
significant takeaway point from my four years in SMU were the soft skills that my education equipped
me with – the ability to evaluate decisions from both a macro and micro level, the relentless pursuit for
professionalism, integrity and accountability in my work, and the determination to consider thoroughly
all perspectives and issues from every stakeholder concerned, be they suppliers and partners from the
backend or customers and employees at the frontline on the ground, or within my team.

Ng Li Tying
Offline Partnerships & Buying Manager, Naiise, Graduated in 2014

SMU SCHOOL OF ECONOMICS 9

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 S C H O L A R S H I P S & AWA R D S

For students with outstanding academic results, strong leadership potential and excellent track records in co-curricular activities and/
F
or community service, a host of attractive scholarships and awards are available. The scholarships and awards from the School of
Economics include but are not limited to the following:
YO
•
•
DBS Bank School Valedictorian Award in Economics
Economic Society of Singapore Excellence Award
•
•
MPA Excellence Awards in Maritime Economics
MTI (Economist Service) Prize
ST
• Economics Advisory Board Excellence Award • MTI (Economist Service) Best Thesis Prize
Our
• Excellence Award in Actuarial Science Major • School of Economics Scholarships
Sing
• Excellence Award in Applied Statistics Major gran
This
For more information on other scholarships, please visit www.smu.edu.sg/smu-scholarships
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 FINANCING
YOUR SMU
ST U D I E S
Our tuition fees are highly subsidised by the
Singapore Government in the form of a tuition
grant administered by the Ministry of Education.
This makes studying at SMU affordable.

With the adoption of a fixed fee model, students

are guaranteed that their tuition fees remain
unchanged throughout the normal four-year
duration of study at SMU. This provides
students and parents a certainty in their
financial planning.

Tuition fees for each new incoming cohort are

subject to annual revisions and tuition fees
mentioned are quoted in Singapore dollars (S$).
The tuition fees do not include accommodation
and living expenses.

For more information, please visit

www.admissions.smu.edu.sg

A D M I SS I O N
REQUIREMENTS
The selection process for admission into SMU’s
undergraduate programmes is based on a
meritocratic and competitive criteria. SMU’s
all-rounded approach in assessment and
selection of our students ensures that they are
able to cope with the academic rigour and be
developed holistically through their involvement
in other activities.

For more information, please visit

www.admissions.smu.edu.sg

SMU SCHOOL OF ECONOMICS 11

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 School of Economics
Singapore Management University
90 Stamford Road, Singapore 178903
Tel: (65) 6828 0870 Fax: (65) 6828 0833
www.economics.smu.edu.sg
Undergraduate Enquiries: undergrad_econs@smu.edu.sg

Printed in February 2016

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