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One of the more popular programs at the American University of Beirut, Economics is a competitive major that equips students with theoretical and empirical approaches to understand how individuals, businesses and governments choose to allocate scarce resources to best satisfy their objectives under conditions of uncertainty and incomplete information.
The study of economics helps provide insight into problems involving both short– and long-term planning of society and its markets. The undergraduate program in economics is a rigorous quantitative program, which enhances students’ analytical skills and critical thinking. The program develops its students’ professional competencies and responsible citizenship skills, and prepares them for a variety of careers in economic research, financial economics, and banking.
The department counts among its alumni some of the region’s most prominent figures, decision makers, business people, diplomats, entrepreneurs and academicians. BA graduates work in a variety of fields: banking, finance, program management, strategy, research, social policy, media and management consulting. Students wishing to further their study are admitted to top programs in Economics, Finance, Management, International Relations, Political Economy, Development Studies and Public Policy at excellent universities in Europe, the United States, Canada, and Australia.
Students in the Economics program are trained to understand the functioning of markets, of firms, and of financial institutions. Through the undergraduate program, students are exposed to a strong quantitative base of mathematics and statistics, which helps enhance their analytical skills and critical thinking. These techniques equip students to understand economic models and apply them to public debates about economic policy, planning and regulation.
The program also offers a global perspective by training students in international trade, globalization, labor markets and jobs, development and growth, health and welfare, and the management of depletable resources. With the research our faculty members conduct, students are exposed to policy-relevant questions and cases that affect the region. They also gain a perspective and an understanding of our economic situations and the issues faced in our region. This will in turn give them an upper hand when entering the job market in the Middle East.
Students completing 12 years of schooling and doing one of the following programs: High School Program, SAT program, AP program, IGCSE (O Levels), IB Certificate or any other school leaving certificate (other than Lebanese Baccalaureate) can apply to the freshman program at AUB.
The freshman program is a majorless year (2 regular semesters) whereby the student can take different courses and follow either a scientific track or a track in humanities. Once the student completes the freshman year, he/she gets to enroll in a specific major at the sophomore level based on his/her average or GPA.
To apply for regular admissions, the student needs to submit an undergraduate application along with the following documents:
a. SAT1 results
b. High school records during grades 10 and 11
c. Counselor/Teacher recommendation(s)/Extracurricular Activities/Other Achievements
Once the student is admitted, he/she will be required to present evidence of having successfully completed Grade 12 and show a level of proficiency in the English language by obtaining a minimum score of 573 on the paper based TOEFL OR 230 on the Computer Based TOEFL (OR 88 on Internet Based TOEFL), OR 500 on the University English Entrance Examination (EEE) OR 380 and above on the writing section of the OLD SATI (Jan 2016 or Earlier) OR 5.5 on IELTS (for IELTS we also requires an additional English Placement test to be done at AUB).
AUB’s Office of Financial Aid has devised several types of need-based assistance programs. These include grants based on the financial status of the student’s family, student loans at low interest rates and favorable repayment options, academic merit scholarships, work study programs that allow students to finance their education while acquiring professional skills at various offices in the University, and assistantships for graduate students.
The AUB scholarship program ensures that students who meet the University's academic standards will have the opportunity to receive an AUB education.
AUB has always been committed to educating students from different nationalities, religions, races, and political persuasions. We are working hard to make sure that economic background is not a factor in the admission process. The University's liberal arts curricular and educational philosophy rests on the principles of intellectual freedom, scientific reasoning, and exposure to a wide range of ideas. AUB encourages concentration in a field of study and seeks to cultivate morally conscious citizens.