Chartered Economics - Detailed Curriculum
Chartered Economics - Detailed Curriculum
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(a) Knowledge: The students get the latest updates and learn about the opportunities of economics,
with specific relevance to world. They appreciate the market dynamics influencing economic policy
and gain an overview on the latest innovations in economics in economic policy formation and
management they also gain an insight to global best practices and achieving success in economic
analysis and understand the options and issues in economic analysis.
(b) Skills: Students develop skills in formation and management of economics for industry, government
and social welfare, ability to present concepts of economic analysis and strategies confidently
through customer friendly language and also the ability to create strategies to build effective
relationship with government and industry experts or increase their capability to think strategically
by using a structured process.
(c) Application: The program through its rigors and practical orientation prepares the students to apply
the concepts and skills developed in the program in actual work environment. The outcome of this
applied education is a complete “Chartered Economics” who is ready for the rigors of the
economics, economic policy in Industry.
The candidate has to go through the above mentioned levels through an Authorized Education Provider
either through Class Room Mode or Distance Learning Mode and clear the requisite exams as per the
requirement of the certification to complete the academic requirements of the Board of Standards. The
completion of the academic criterion ensures that the candidate has the requisite knowledge and skills
to work as a Chartered Economist®.
The Chartered Economist® is a professional designation and certification affiliated with the prestigious
American Academy of Financial Management USA. The globally acclaimed credential and identifying
mark of professional economists; worldwide who are the part of AAFM Board Network.
The idea of Chartering in some specific career-based aspects of Economics as a profession evolved in the
United States of America and for some years now the Chartered Economist® ideology is being spread by
the Prestigious American Academy of Financial Management. This AAFM is also a founder and in
agreement with the Association of Certified Chartered Economists (ACCE). The American Academy of
Financial Management (AAFM), the Academy has certified people who want to pursue courses leading
to the award of Chartered Economist® Certification in the approve fields of Economics and Economic
Policy Analyst by AAFM.
The Chartered Economist® Professional Program will enable professionals to help their organizations
execute sound managerial decision in an increasing complex global environment. The program focuses
on building economic thinking and analysis skills in conjunction with how to apply economic theories,
tools and techniques in administrative and business decision making, study data and statistics in order
to spot trends in economic activity, economic confidence levels, and consumer attitudes.
“Life without The Economist would be life without a global perspective.” – Dr. Eric Schmidt, Executive
Chairman, Alphabet
A chartered economist® is a “professional, objective and critical and is able to contribute effectively to
national discourse and development”. Economists use statistics, mathematical analysis, and economic
theory to conduct studies concerning such issues as unemployment, inflation, industrial productivity,
farm policies, and international trade.
The Chartered Economists® Program furnishes candidates with chances to build up the explanatory,
analytical, functional and interpersonal skills & aptitudes vital to sound managerial decision-making in
more and more complex economies and financial environment.
The Chartered Economists® Program is a proficient program intended to prepare students for a
challenging and exciting career.
AAFM® dedication is to focus & prepare Chartered Economists® Program students for high level career
& professions in an increasing global economics and financial environment. This, program is offered to
qualified students who look to serve in a position of authority in economics. Attention is put on the
coordination of organizational activities and how the different divisions and functions need to work in a
deliberate push to optimize organizational output. The courses in this program focus on the introduction
of procedures that give aptitudes & skills in analysis, decision-making and adequacy evaluation.
Chartered Economist® is one of the most highly valued qualifications available internationally for
individuals and corporates.
Gaining such a qualification is evidence that you possess skills and knowledge that are in high demand
by employers in global markets as well as in banking, professional management consulting etc.
The Chartered Economist® equips students with cutting edge skills in economic analysis and research
taking the students through a deep value fundamental economic research process that result in the
creation of independent economic research reports and innovative economic models. The Chartered
Economist® program provides an educational challenge that builds on relevant, real-world fundamental
economic knowledge to educate, train and develop the next generation of top notch talent.
Technology is accelerating every aspect of the free market system and through globalization our world is
getting smaller and smaller causing rapid change and its profound impact on everything from product
and process innovation to how goods and services are marketed and sold.
However, this market globalization and fast pacing of doing business causes tremendous volatility and
disruption, understanding the economics context of doing business, competitive market behavior,
financial market and government economic policy will influence organization which is critical of the
success of every profit-oriented business, non-profit or government enterprise.
This is a dynamic and globally oriented certification offering professional education that focuses on the
study of free market economics and international financial service.
Our programs combine expertise, academic, global business professionals and the best professional
education technology, manual and interactive learning strategy.
We are educating the World’s Future Leaders in government, academia, commence and non-profit
organization to understand and uphold highest standards of ethical conduct. The Chartered Economist®
professional program will enable professionals to help their organizations execute sound managerial
decision in an increasing complex global environment.
The program focuses on building economic thinking and analysis skills in conjunction with how to apply
economic theories, tools and techniques in administrative and business decision making.
Full blended learning solution, with the final manual and online assessment, students master the
following credible components in our various Chartered Fields.
2 Econometrics
3 Industrial Economics
4 International Economics – I
5 International Economics – II
Level 2
2 Econometrics
3 Industrial Economics
4 International Economics – I
5 International Economics – I I
8 International Economics
For a professional like a Chartered Economist® an understanding of markets and economic systems is of
prime importance. This module would enable the Chartered Economist® to get a basic understanding of
the Micro-economics and Macro-economics. This module would also cover the fundamental aspects of
economics. The module would enable the Economics professionals in acquainting with the
fundamentals, history and origination of the Economics. The objective of the module is to enable a
Chartered Economist® to understand the changes in economic environment of the financial markets and
economic instruments.
This part of course would enable the Economics professionals in acquainting with the role of economics
in decision making. The objective of this part is to enable a Chartered Economist to understand the
critical thinking of micro-economics; demand & Supply and elasticity of demand & supply and consumer
behaviour and producer’s behaviour.
The last part of the module would help the Chartered Economist in knowing the macroeconomic issues
unemployment, poverty, and the economic growth.
Learning Outcome Statements
After studying this content module, you should be able to:
Understand the concept of the economic analysis
Fundamentals of Economics
Subject Matter of Economics
Art & Science of Economics
Economic Problem
Tools of Economic Analysis
Comparative Advantage
Economic Decision Maker
Micro-Economics
Micro Economics
Methods of Economics
Demand & Elasticity of Demand
Law of Demand
Demand Schedule
Elasticity of Demand
Supply & Elasticity of Supply
Law of Supply
Elasticity of Supply
Consumer Behaviour
Consumer Behaviour Models
Producer’s Behaviour
Production Function
Forms of Market & Price Determination
Macro Economics
Macro – Economics
Emergence of Macro Economics
Macro – Economics Issues & Measurement
Inflation
Understand the causality and the notion of ceteris paribus in econometric analysis
Quantification
Simplification
Economic Statistics and Estimating Relationships
Mathematics and Business
Elasticity of Demand
Functions And Graphs
Inverse Functions
Graphs of Linear Functions
Fitting Linear Function
Slope
Budget Constraints
Using Excel to Plot Functions
Functions with Two Independent Variables
The Cobb–Douglas Production Function
Linear Equations
Equilibrium and Comparative Statics
Solving Quadratic Equations
Factorization
Introduction to Econometrics
Types of Econometrics
Econometric Models
Features of Econometrics Model
Econometrics And Statistics
Time Series Data
Causality and the Notion of Ceteris Paribus in Econometric Analysis
Simple Linear Regression Model
Course Objective:
For a professional like a Chartered Economist® an understanding of industry and industrial economics is
of prime importance. This module would enable the Chartered Economist® to get a basic understanding
of the industrial economics, industrial organization and theory of firm. This module would also cover the
fundamental aspects of oligopoly. The module would enable the Economics professionals in acquainting
with the fundamentals of oligopoly, non-collusive oligopoly and collusive model of oligopoly. The
objective of the module is to enable a Chartered Economist® to understand the theories of firm and the
various forms of theory of firm.
This module would focus on making a Chartered Economist® understand the concepts of industry
concentration. The module would look into the different measures and trends of industry concentration
which would act as a stepping stone towards the high-end economic analysis. The overall aim of this
module is to provide hands on experience on the seller’s concentration and buyer’s concentration of
economic analysis.
Industry Concentration
Course Objective:
For a professional like a Chartered Economist® an understanding of industry; international business and
international economics is of prime importance. This module would enable the Chartered Economist® to
get a basic understanding of the international economics, international business and comparative
advantage. This module would also cover the fundamental aspects of international economics and
economy. The module would enable the Economics professionals in acquainting with the fundamentals
of comparative advantages, balance-of-payment, equilibrium and disequilibrium in balance-of-payment.
The objective of the module is to enable a Chartered Economist® to understand and explore the
measures to correct disequilibrium in balance-of -payment.
This module would focus on making a Chartered Economist® understand the concepts of foreign
exchange and policy. The module would look into the different measures and trends in foreign exchange
rate which would act as a stepping stone towards the high-end economic analysis. The overall aim of
this module is to provide hands on experience on the exchange rate, rate determination, rate quotation,
rate forecasting and rate theories.
Balance of Payment
Balance of Payment Accounting
Structure of Balance of Payment
Current Account
Capital Account
Balances Within the Balance of Payment Statement
Balance of Trade
Balance of Current Account
Balance of Capital Account
Equilibrium & Disequilibrium In Balance of Payments
Autonomous Transactions
Accommodating Transactions
Equilibrium in BOP
Disequilibrium in BOP
Course Objective:
For a professional like a Chartered Economist® an understanding of international trade, tariffs, trade
regulations, industrial policies are of prime importance. This module would enable the Chartered
Economist® to get a basic understanding of the international trade, tariffs, GATT, WTO and international
trade policies.
The objective of this module is to provide an overview of other aspects of international economics and
their analyses. Because of the complex nature of the international economics, this module places an
extra emphasis on the understanding of the economic forces driving the international trade,
international tariffs, trade regulations and international trade policies. The concepts of international
economics covered in this module include international trade, tariffs, trade regulations and trade
policies. The descriptive content characteristics of this international trade, tariffs, regulations and
policies are explained in terms of international economics. Various techniques for the study of
international trade, tariffs, regulations and policies are illustrated in detail.
It is important for a Chartered Economist to have a basic knowledge of the international economics used
globally.
Able to differentiate between economics and international economic tariffs and regulations
Trade Regulations
The Smoot-Hawley Act
Smoot-Hawley Provoked a Retaliatory Storm
The Reciprocal Trade Agreements Act
The Kennedy Round
The Tokyo Round
International Trade Policies
Constituents of Trade Policy
Strategic Trade Policy
Export-Import Bank
Economic Sanction
Trade Policies for the Developing Nations
Optimality of Free Trade
Objections to Free Trade
The Infant Industry Argument
Terms of Trade
Factor Market Imperfections
Analysis of Trade Policies in Developing Countries
Export Promotion and Import Substitution
The “Bias” of a Trade Regime
The “Two-gap Model”
Tariff-quota Equivalence and Non-equivalence
Rent Seeking
Welfare Ranking of Tariffs and Quotas
Course Objective:
This book “International Economics” of Chartered Economist® Education Program covers the concepts of
international economics, on which an economist works and takes an economics decision or analysis.
The objective of this book is to provide an overview of various aspects of international economics and
their analyses. Because of the complex nature of the economics, this book places an extra emphasis on
the understanding of the international economy, modern trade theory, tariffs & non-tariff trade
barriers, trade regulations and industrial policies. This book also emphasis on understanding of the
balance-of-payment, foreign exchange, exchange rate systems, etc.
The concepts of international economics covered in this book include the trade policies for developing
nations, regional and international trade arrangements and agreements. Various other aspects for the
study of international economics are illustrated in detail.
It is important for a Chartered Economist to have a basic knowledge of the international economics used
globally.
Explain the importance of the trade policies for the developing nations
Understand the importance of exchange rate adjustments and the balance of payments
Price Adjustment
Interest Rate Adjustment
Financial Flow and Interest Rate Differentials
Income Adjustments
Monetary Adjustments
Exchange Rate Adjustments and the Balance of Payments
Course Objective:
This book “An Introduction to A Mathematical Treatment of Economics” of Chartered Economist®
Education Program covers the mathematical concepts used in economics, on which an economist works
and takes an economics decision or analysis.
The objective of this book is to provide an overview of various aspects of mathematical economics and
their analyses. Because of the complex nature of the mathematics, this book places an extra emphasis
on the understanding of the simple Keynesian model of income determination in a closed economy.
The concepts of mathematical economics covered in this book include the simple linear models,
application of derivatives, maxima and minima, an introduction to dynamics, introduction to matrix
algebra and application of linear algebra. Various techniques for the study of mathematical economics
are illustrated in detail.
It is important for a Chartered Economist to have a basic knowledge of the mathematical economics
used globally.
Course Objective:
This book “Introductory Econometrics a Modern Approach” of Chartered Economist® Education
Program covers the econometrics concepts used in economics, on which an economist works and takes
an economics decision or analysis.
The objective of this book is to provide an overview of various aspects of econometrics and their
analyses. Because of the complex nature of the econometrics, this book places an extra emphasis on the
understanding of the regression analysis with cross-sectional data and time series data. This book also
emphasis on understanding of the advanced tools used in the economics like – advanced panel data
methods, two stage least squares, simultaneous equations models, advanced time series topics, etc.
The concepts of econometrics covered in this book include the simple regression model, multiple
regression analysis, OLS Asymptotics, Hetroskedasticity, regression analysis with time series data, etc.
Various techniques for the study of econometrics are illustrated in detail.
It is important for a Chartered Economist to have a basic knowledge of the econometrics used globally.