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major prerequisites
Introduction to economics (1)

It deals with the process and principles of price determination, resource allocation, and income distribution in a market economy. It aims to firmly understand the basic theories of microeconomics, such as how rational household consumption behavior and rational production activities interact in the market to produce efficient resource allocation, how market forms and government policies transform resource allocation, the operating principles and limitations of free market organizations, and the effects and problems of government regulations.

Introduction to economics (2)

Analysts say the effect of fiscal and monetary policy that affect the mechanisms, economic growth, economic growth, economic growth, economic growth, economic growth, economic growth, economic growth, economic growth, and international accounts.There is a goal of subject to living a macroeconomic knowledge needed to live in modern industrial society, and more subjects to gain eyes and international economy and international economy.


First semester
Economic Statistics

Statistics is a powerful tool that enables us to draw accurate inferences from numerical data. Economic Statistics, in particular, focuses on understanding and analyzing economic data generated through various economic activities. The course enhances students’ ability to test existing economic theories and lays the groundwork for developing new ones by providing robust methods of data interpretation and statistical analysis within an economic context.


Second semester
Mathematics for Economics

This course introduces the fundamental mathematical concepts necessary for analyzing economic models. Students will learn how these mathematical theories are applied within economics to understand and solve theoretical and practical economic problems.

First semester
Microeconomics

Microeconomics explores fundamental economic questions related to choice and incentives. Its central focus is on how scarce resources are allocated efficiently within an economy. This course covers consumer theory, which analyzes individual behavior; producer theory, which examines firm decision-making; and market equilibrium across various market structures. A solid understanding of microeconomics is essential for studying more advanced economic subjects.

History of the World Economy

This course investigates major economic systems and transitions from pre-market economies through the Industrial Revolution, the age of imperialism, global wars, the Great Depression, and the Cold War era. The focus is on understanding why some nations experienced economic development while others did not, offering insights into the future direction of the Korean economy.


Second semester
Macroeconomics

This course examines how key macroeconomic variables—such as national income, aggregate output, inflation, unemployment, and economic growth—are determined and interrelated. It also explores the impact of fiscal and monetary policies on these variables and introduces modern theories of economic growth and business cycles.

Mathematical economics

This course offers a comprehensive introduction to game theory, which is essential not only for theoretical economics but also for understanding many real-world problems. Students will explore various types of games, each with distinct solution concepts depending on the strategic setting. The course focuses on identifying the appropriate game model for a given situation and analyzing the relevant strategies and solutions.

A solid foundation in basic mathematics and the ability to apply it is required to fully understand game theory. Students planning to take courses such as Industrial Organization are strongly encouraged to complete this course in advance.

First semester
Econometrics

Designed for students who have completed Economic Statistics and Mathematics for Economics, this course covers key econometric methods. The primary focus is on regression analysis, including ordinary least squares (OLS), maximum likelihood estimation, heteroskedasticity, autocorrelation, distributed lag models, and multiple equations models.

International trade

This course analyzes the causes and gains of trade between countries, the distributional effects of trade, the impact of trade policies, and changes in the global trade system. Emphasis is placed on how international trade and policy affect national economies.

Labor economics

Using analytical tools from microeconomics, students study major theories of labor economics and apply them to real-world labor markets. The course helps students navigate the complexity of labor-related issues and policies.

Public Finance

This course examines how government intervention in markets affects individual and firm behavior, as well as the efficiency and equity of resource allocation. It begins with fundamental topics such as efficiency, public goods, and externalities, and focuses in depth on taxation and the evaluation of fiscal policies.

Economic Growth

This course introduces key theories on the long-term growth of the economy and presents empirical methods for analyzing macroeconomic data. Students gain tools for evaluating factors behind sustainable growth.

Resource and environmental economics

The course provides theoretical frameworks and analytical tools for understanding the optimal allocation of exhaustible resources and the environmental impacts of their development. Topics include dynamic efficiency and the sustainable management of environmental externalities.

Financial Economics

The course offers a broad yet in-depth view of financial economics, covering financial markets, corporate finance, and personal asset management. Students explore theoretical and practical aspects of finance in a modern economy.


Second semester
Economic Data Analysis

This course provides systematic training in data analysis methods used in economics. It covers data collection, processing, and quantitative analysis using statistical software and programming languages, with a strong emphasis on hands-on practice and interpretation of results.

Development Economics

This course examines the quantitative and qualitative aspects of economic development, including income growth and equitable distribution. Students analyze historical growth experiences of developed countries and explore development strategies and issues in developing nations.

International finance

Focusing on recent developments in the global economy, this course explores the dynamics of international financial markets, including exchange rates, interest rates, capital flows, and international monetary cooperation. Theoretical foundations and policy implications are both covered.

Industrial organization

This course studies different types of market structures and the strategic behavior of firms under each. Topics include competition, pricing strategies, market performance, and regulatory implications. It is a key course for understanding firm behavior in real-world markets.

Monetary and financial Economics

Students explore the roles of money and finance in a modern capitalist economy. The course covers monetary theory, financial systems, and how changes in money and credit affect economic activity and policy effectiveness.

Applied Econometrics

This practical course teaches students how to apply econometric techniques to real-world macroeconomic and micro-economic models using actual data. Emphasis is placed on empirical testing and the use of statistical software.

Dynamic Economic Theory

The course introduces mathematical techniques used in dynamic optimization and applies them to real economic problems. It helps students analyze how changes over time affect decision-making and economic outcomes.

First semester
Business Cycles

This course explores the nature of business cycles: what they are, why they occur, how long they persist, and whether they reflect equilibrium or disequilibrium phenomena. Students examine both classical and contemporary theories of economic fluctuations to gain a comprehensive understanding of the dynamics behind cyclical changes in the economy.

Investment and Risk Management

This course introduces key topics in investment theory and risk management for financial institutions. Students study concepts such as efficient portfolios and in-depth investment strategies for financial assets. It also covers the types of risks faced by financial institutions and approaches to managing those risks.

Economic Analysis Using Machine Learning

With the rise of big data and machine learning methods, there is growing demand for applying these tools to economic decision-making. However, economic data is often more complex and dynamic than data used in engineering. This course introduces machine learning methodologies suitable for analyzing economic data and provides hands-on training in empirical applications tailored to economic contexts.

Korea Economy

This course examines the historical and current structure of the Korean economy in the context of domestic and international changes. Students analyze key economic challenges and explore policy responses to guide Korea’s future economic direction.


Second semester
Economic policy

This course analyzes how government policies affect opportunity costs and incentive structures faced by individuals and firms. Using microeconomic theory and econometric methods, students examine the effects of social policies—such as welfare, labor, education, healthcare, insurance, and pensions—on economic behavior and evaluate major academic findings in these areas.

Investment and risk management

As the importance of risk management, Validation is widely regarded as a basic tool for risk measurement and management and management.In risk management subjects, the amount of risk of risks inherent in various securities.In addition, the process of measuring risk inherent risk inherent risks inherent in securities are also studied.

A special lecture on economics

Throughout the implications of domestic and abroad, the ability to approach their implications and expressions through independence indicators.Introduction, interpretation and lectures on domestic and abroad.

Welfare economics

Focusing on the evaluation of resource allocation outcomes, this course studies normative criteria such as efficiency and equity. Students learn how to assess welfare implications of economic policies and understand the theoretical foundations behind social optimization and redistribution.

Derivatives and Financial instruments

This course helps economics majors develop a solid understanding of derivative markets, including options, futures, and swaps. It broadens students’ knowledge of modern financial markets and prepares them for careers in finance by strengthening their ability to adapt to real-world financial environments.

Economics of Distribution and Service Industries

This course examines the distribution and service sector, which accounts for approximately 9% of GDP and 15% of employment in Korea. With the economy shifting from manufacturing to services, understanding the structure and dynamics of industries such as wholesale, retail, and franchising is essential. Students analyze current industry trends, global market changes, and related policy issues while developing critical thinking and problem-solving skills through case discussions.

Behavioral Economics

Students explore behavioral economics concepts and apply them to real-world phenomena through data collection and analysis. This course bridges traditional economic theory with actual human behavior by combining theoretical reasoning with statistical methods. Although designed for economics majors, students from other disciplines with an interest in consumer behavior and basic statistical knowledge are also welcome.

The Department of Economics at Chung-Ang University

Graduate School offers a wide range of specialized courses each semester. Fourth-year undergraduate students may benefit from taking graduate-level courses in the following cases:

  • Those who wish to study economics in greater depth beyond the undergraduate curriculum.
  • Students planning to pursue graduate studies in the future.
  • Students preparing for economics-related exams such as those for the Bank of Korea, public financial institutions, or civil service exams (Level 5 in administration, legislation, etc.).
  • Those interested in participating in small-group seminar classes covering advanced topics in economics.
  • Any students with a strong interest in economics.

Eligible undergraduate students in their 7th and 8th semesters may take up to two graduate-level courses—one per semester—provided they have completed at least six semesters and have a GPA of 3.30 or higher.

These courses may be counted toward undergraduate graduation credits. Alternatively, students may choose to reserve the credits for graduate school, should they later enroll in the master’s program.

To register, students must first obtain approval from the head of the Department of Economics and the instructor of the intended graduate course. For questions regarding prerequisites or course eligibility, students should consult either the department head, the course instructor, or the undergraduate program office.

Note: Unlike undergraduate courses, graduate courses are not graded on a strict distribution curve. However, the number of students awarded an A+ may not exceed 50% of the class.


Graduate Courses

First Semester

Microeconomics I
This course analyzes consumer theory, producer theory, and market theory by dividing them into individual units such as households, firms, and industries. It then examines market equilibrium as a synthesis of these individual analyses.

Macroeconomics II
This course delves deeply into specific topics such as consumption, investment, and asset demand, and comprehensively covers the effects of macroeconomic policies. While Macroeconomics I dealt with a world of certainty, this course extends the analysis into a world of uncertainty.

Development Economics
Focusing on development theory and real-world analysis, this course summarizes major papers on economic development and presents current policy issues faced by developing countries for discussion.

Research in Economic Policy
This course examines fiscal and monetary policies through the lenses of various economic schools of thought, such as Classical, Keynesian, Monetarist, and Rational Expectations schools. It also explores how optimal control theory using econometric models is applied to establish optimal economic policies, with a special focus on how financial policies in developing countries differ from those in developed countries.

Economic Statistical Analysis
This course provides theoretical and empirical tools for applying economic theories and models to real economic data. Using statistical methods, it seeks to answer “how much”-type questions, allowing students to test the validity of theories and models against actual data. It builds a solid understanding of key concepts and theories in statistical analysis and equips students to conduct independent research using economic data.

Labor Policy
This course expands on labor economics by applying theoretical frameworks and analytical methods to the actual labor market, particularly within the Korean context.

Seminar in Mathematical and Econometric Economics
Building on knowledge gained in mathematical economics and econometrics, students choose a topic and explore it through theoretical expansion and specialized techniques.

Public Finance
This course addresses how to deal with market failures caused by economic activities, analyzes and evaluates government economic policies, and explores how econometric and other theoretical tools are applied to establish optimal policies.

Behavioral Economics
This course explores a new field of study aimed at understanding economic and managerial phenomena that cannot be explained by modern economic theory. It provides insights useful for research in consumer theory, producer theory, distribution, marketing, agriculture, and resource economics.


Second semester

Macroeconomics I
This course examines key macroeconomic variables—such as national output, consumption, prices, wages, unemployment, inflation, economic growth, and the balance of payments—and analyzes how they are determined and interact. It also investigates how fiscal, monetary, and exchange rate policies influence these variables from the perspective of various economic schools of thought.

Microeconomics II
As a continuation of Microeconomics I, this course mainly deals with advanced topics such as information economics and game theory.

Economic Growth Theory
This course organizes the main theories and empirical discussions surrounding economic growth. Using macroeconomic data, it presents methodologies for empirical analysis, enhancing students’ understanding of the determinants of long-term income levels, the sources of sustained growth, and convergence among countries.

Econometrics I
This course covers simple and multiple regression analysis using Ordinary Least Squares (OLS) and Two-Stage Least Squares (2SLS) methods. Topics include multicollinearity, dummy variables, measurement errors, and related theories and theorems.

Econometrics II
This course deals with advanced econometric techniques and extends theoretical approaches to analyze real-world economies.

Climate Economics
This course analyzes international efforts to address climate change, including global warming, and examines how to gain a competitive edge in the emerging low-carbon economy. Taught by a seasoned diplomat with 30 years of experience, the course systematically explores all aspects of climate change and global warming observed in the field.

Labor Economics
This course provides theoretical analysis of labor demand and supply, labor market structure and functions, the role of labor unions, real wages, income distribution, and labor relations. It combines theoretical and empirical approaches.

Seminar in Distribution Economics
This course focuses on understanding distribution theories and discussing major issues in the distribution market. It includes research presentations, case studies, and analysis of domestic and international trends. Students develop research skills, presentation, and discussion abilities, and formulate research topics related to distribution economics.

Applied Econometrics
Based on previously studied econometric theories, this course explores non-linear estimation, identification, iterative estimation, simulation analysis, Monte Carlo methods, and small sample estimation techniques.

BA–MA Integrated Program (5-Year Track)

Overview

  • A program designed to complete both the undergraduate and master’s degrees in five years (10 semesters).
  • Students may apply after completing their 6th semester in the undergraduate program.
  • Upon admission, students will graduate early after the 7th semester of their undergraduate studies.
  • They will then complete the master’s degree in the following 3 semesters.

Eligibility

  • Current undergraduate students at Chung-Ang University (including transfer students).
  • Must be majoring in Economics (including double majors, interdisciplinary majors, or convergence majors).
  • Must have completed at least 106 credits by the end of the 6th semester.
  • Must have a GPA of 3.30 or higher in major-related courses (including introductory/economics core courses).
  • Must obtain a recommendation from the Head of the Department of Economics.

Application Timeline & Process

  • Screening method: Document review only

-Spring Admission (March Entry)

  • Application submission: Mid-July (previous year)
  • First-round result: Before 7th semester course registration
  • Final result: Late January (following year)

-Fall Admission (September Entry)

  • Application submission: Mid-January (same year)
  • First-round result: Before 7th semester course registration
  • Final result: Late July (same year)

 Required Documents

  • Application form
  • Official academic transcript
  • Study plan
  • Recommendation letter (from department head)
  • Pledge form

※ For full program guidelines, please refer to the attached file: BA–MA Integrated Program Download

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