The Bachelor of Arts in Economics (BAE) degree program will offer a unique blend of required and elective courses that give students a solid theoretical background and overview of different economic fields. It aims to provide excellent training in the core economic theory and different fields within Microeconomics and Macroeconomics. The program is designed to provide students with theoretical knowledge and practical skills for successful careers in the business and government sectors and graduate studies in Economics, Business Administration, International Relations, Law, and many others. The department will offer students to choose Economics as their major or minor. Economics students may pursue a standard Economics major or a math-intensive version of the same major. The math-intensive version provides additional training in sophisticated methods useful in modeling and forecasting complex market behavior. The Economics department also allows non-economics students to declare an Economics Minor. Students majoring in Economics must take six core courses and seven elective courses at 300- and 400- levels. To get a minor in Economics, students must complete five core courses and two elective courses at any level.

The BAE program is designed to be completed in four years. The strength of the program is in the large number of scholars who are experts in different areas of Economics. The program is rounded out by the overall BA curriculum in SSH which ensures that our students take a mix of mathematics, science, history, philosophy, and other classes to given them a well-rounded liberal arts education.

Learn more about the program curriculum here. The course audit form for students is available here.

Program Learning Outcome

On successful completion of the program, graduates will be able to:

1. Develop critical thinking by applying economic analysis to everyday phenomena and to the evaluation of economic policies, to identify and understand the role of assumptions in theoretical and empirical arguments.
2. Develop quantitative skills in order to evaluate the validity of economic arguments by the use of empirical evidence, apply statistical methods to the analysis of economic data.
3. Develop problem-solving skills to analyze and evaluate behavior and outcomes by using economic concepts and methods.
4. Acquire specialized knowledge in different fields of the discipline.
5. Communicate effectively by written and oral form using the competencies acquired throughout their studies.

The Minor in Economics provides students with a foundational understanding of economic principles, theories, and analysis techniques without requiring the extensive coursework of a major. This Minor is designed for students from diverse backgrounds (STEM, humanities, engineering, etc) interested in leveraging their technical or soft skills to build a career in fields such as business, management, economics and finance, public policy, and more.

Students can apply for the Minor in Economics starting from the 3-year of studies. The requirement for the Minor declaration is the completion of the following courses by the end of their 5th semester:
• ECON101 Introduction to Microeconomics
• ECON102 Introduction to Macroeconomics
• MATH161 Calculus I
• ECON201 Intermediate Microeconomics
• ECON202 Intermediate Macroeconomics
Students will need to receive a minimum of B- in ECON101, ECON102, and MATH161. Moreover, students must receive a minimum of B- in ECON101, ECON102, and MATH161.

To confirm the Minor in Economics, the students must have completed 42 credits outlined in the table below by the end of their studies. The passing grade for Introduction to Microeconomics and Introduction to Macroeconomics must be aminimum of B-. For non-Economics students, the combination of MATH321 Probability and MATH322 MathematicalStatistics/MATH310 Applied Statistical Methods is counted as a prerequisite for Econometrics I.
Course Categories
Elementary Economics Courses 12

• 6 credits Introduction to Microeconomics
• 6 credits Introduction to Macroeconomics

Intermediate Economics Courses 18

• 6 credits Intermediate Microeconomics
• 6 credits Intermediate Macroeconomics
• 6 credits Econometrics I

Advanced (300 or 400 level) Economics Electives 12

• Any courses

If you have any questions about the minor or would like to discuss your application, please send an email with your transcript attached to economics_minor@nu.edu.kz.

The Minor in Quantitative Finance is designed to give students indispensable economic and mathematical tools used in modern finance. You will learn how to apply mathematical models to concrete real-world financial scenarios ranging from valuing complex financial instruments such as futures and options, to uncovering market trends and managing risk. Whether your aspirations lie in investment banking, risk management, or financial analysis, this Minor will boost your future career.
Students can apply for the Minor in Quantitative Finance at the end of the Fall of their 3rd year. The deadline to apply for the Minor is at the end of the Fall of their 4th year.
The requirement for the Minor declaration is the completion of the following courses:·

• ECON101 Introduction to Microeconomics (B- and above)·
• MATH161 Calculus I (B- and above)·
• ECON201 Intermediate Microeconomics (B- and above)·
• ECON 211 Economic Statistics (B- and above)·
• One ECON Elective from Section A below (B+ and above)

To confirm the Minor in Quantitative Finance, the students must have completed 56 credits outlined in the table below by the end of their studies. At least one ECON and MATH 300/400 elective course must be completed with a B+ and above. Other ECON and MATH elective courses have a C- and above threshold. Below is the tentative list of ECON and MATH elective courses.

Section A Economics courses, at least one course (B+ and above):

• ECON320 Money and Banking
• ECON326 The Economics of Financial Markets
• ECON337 Empirical Finance
• ECON414 Advanced Monetary Policy
• ECON418 Corporate Finance and Governance

Section B Mathematics Courses, at least one course (B+ and above):

• MATH323 Actuarial Mathematics I
• MATH423 Actuarial Mathematics II
• MATH424 Mathematical Finance
• MATH425 Stochastic Processes
• MATH455 Stochastic Calculus

If you have any questions about the minor or would like to discuss your application, please send an email with your transcript attached to economics_minor@nu.edu.kz.

Our graduates are employed in private and public sectors in Kazakhstan and abroad. Below is a short list of some employers:

• Big 4 companies: Deloitte, EY, KPMG and PwC
• Big 3 and other consulting companies: McKinsey & Company, Boston Consulting Group, Bain & Company, Accenture, Oliver Wyman, Kearney
• Energy companies: Chevron Corporation, Eni S.p.A, ERG, TotalEnergies
• Banks and financial companies: Astana International Financial Centre, Freedom Holding Corp., Halyk Bank, Jusan Bank, Kaspiy Bank
• Other private companies: BAT, Beeline, General Electric, JTI, Mars, Philip Morris, Procter & Gamble, Tele2, Wabtec Corporation
• International organizations: World Bank, UN
• Public sector in Kazakhstan: National Bank of Kazakhstan, Samruk-Kazyna