Economics is the study of human decision-making, considered in relation to the economic tasks of life. It looks at how individuals within larger social groups, including communities, organizations, markets, and economies, make decisions about how much to work and play, spend, and save. Economic analyses also consider how the economic decisions made by one group of people affect the decisions made by others. They then study how the aggregated effects of these decisions impact production, distribution, trade, and the consumption of goods and services across local regions, countries, and the world.
The Economics curriculum at NYU Abu Dhabi is designed to introduce students to these fundamental dynamics of human life and, in doing so, is grounded in three basic pedagogical principles:
- Undergraduate students must be exposed to the “big ideas” and pressing social issues of our world and given economic frameworks for thinking about them.
- Meaningful study of economics requires being able to think about problems from local, regional, and global perspectives.
- Effective economic reasoning increasingly involves a multi- disciplinary approach combining the best economic thinking with the best thinking in psychology, history, and politics.
Majors may select a specialization in Finance or in Theory. Students who intend to go to graduate studies in Economics are advised to complete the specialization in Theory.
François Bourguignon, who held former posts as Director of the Paris School of Economics, Chief Economist and Vice-President of the World Bank, is a NYU Abu Dhabi's Global Professor of Economics.
One of the world's leading experts on economic development, Dr Bourguignon is author of a dozen books on the subject, including The Impact of Economic Policies on Poverty and of Income Distribution (Oxford University Press, 2003) and Microeconomics of Income Distribution Dynamics in East Asia and Latin America (Oxford University Press, 2005). He has published over one hundred articles in peer reviewed scholarly journals, many in flagship journals of economics, including American Economic Review, Econometrica and European; Economic Review.
Dr Bourguignon was awarded the Dan David Foundation prize in the "Combating Poverty" category in 2016.