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The University Of Georgia
Program name: Economics
Study Level: Undergraduate
Program leader: Giorgi Lomidze
Study language: Georgian
Qualification: BA in Economics
Program capacity: 240
Program permission: Admission criteria/ prerequisite (for the citizens of Georgia): The students are enrolled on the bachelor programs on the basis of the results of the national entrance exams or on the basis of the decree №224/ნ (December 29, 2011) of the Minister of Education and Science of Georgia, on the basis of the administrative registration and the decree of the Rector. Admission criteria/ prerequisites (for the foreign country citizens): Foreign entrants who completed secondary education abroad or got the education equivalent to it, or/and completed the last two years of secondary education abroad , or students, who lived abroad during last two or more years and studied abroad in higher educational institutions accredited in compliance with the legislation of the host country can be enrolled in the program without taking national entrance exams on the basis of the decree № 224 / ნ (December 29, 2011) of the Minister of Education and Science of Georgia. If the entrants don’t have English language Certificate FCE (First Certificate in English) the language competence (B2 – Intermediate ) is proved on the basis of the University exam in English with the minimal passing rate 60%.
Program goals:

The objective of the bachelor's program in economics is to cultivate highly skilled and competitive professionals who embrace European values. These individuals will possess specialized knowledge as professional economists and versatile, practical skills across various disciplines, including the intersections of mathematics and business management. The aim is to contribute to the democratic and economic development of society, benefiting both the Georgian nation and humanity.

Methods for Attaining Learning Outcomes:

The program employs a range of methods to achieve these goals, including:

  • The explanatory method
  • Teamwork
  • The demonstration method
  • Verbal or oral communication
  • Lecture-seminars
  • Literature reviews
  • Conducting small-scale studies
  • Practical work
  • Delivering presentations
  • Problem-solving exercises
  • Staying updated with current events
  • Tackling situational tasks
  • Case studies and analysis
Learning outcomes:
Knowledge and understanding

  • A graduate of the program can:

    • Describe the fundamental concepts and theories of microeconomics and macroeconomics.
    • Establish quantitative and qualitative methods for economic research, as well as principles of management and finance.
    • Demonstrate proficiency in English at the B2 level.
    • Explain the role of the government in the economy, including the use of fiscal and monetary instruments, as well as various methods of market regulation and international trade.
    • Describe different stages of economic science development and compare various theories and doctrines.

    • Skills

  • A graduate of the program can:

    • Evaluate and create relevant microeconomic and macroeconomic models, using appropriate mathematical, statistical, and econometric methods.
    • Utilize quantitative and qualitative research methods to assess, analyze, and draw conclusions on a wide range of economic issues.
    • Assess and compare economic doctrines, derive pertinent conclusions, and apply them to develop a strategic vision.
    • Forecast economic variables based on data and rational assumptions in an uncertain environment.
    • Prepare and present comprehensive written reports on general economic topics and specific economic processes in both Georgian and English. These reports should outline economic problems and propose comprehensive solutions.

    • Responsibility and autonomy

  • A graduate of the program can:

    • Independently plan further studies in the field of economics, both at the next level of formal education and independently, by incorporating additional materials and conducting research.
    • Conduct professional activities while understanding the importance of safeguarding liberal values, economic freedom, and private property rights.
    • Date of approval: 11-15-2007
    Approval protocol number: 13
    Date of program update:
    Update protocol number: 04/19
    Program details:

    In the initial semesters of the program, students will study core courses with learning outcomes aligned with the program's goals, which also serve to develop general sector-specific competencies. The content and logical sequence of these core courses are designed to allow students to delve deeper into the field of economics, equipping them with relevant skills and employment-oriented competencies.

    The program is designed to consider students' differentiation in terms of language competencies. Specifically, students begin studying English from a level that corresponds to their knowledge, determined based on their performance in the Unified National Exams and internal exams.

    The maximum raw score for the Unified National Exam:

    • A score of 63% admits the student to the B1/1 level of English.
    • A score between 64% and 86% places the student at the B1/2 level.
    • A score between 87% and 100% qualifies the student for the B2/1 level.
    • Students who score over 93% will be assessed for language competence. If they accumulate sufficient points, they will be eligible for the B2/2 level of English. If not, they will be placed at the B2/1 level.
    • Students who score over 93% but don’t show up for the examination will be admitted to the B2/1 level."
    Teaching Process Characteristics:

    To obtain a bachelor's degree in economics, a student needs to accumulate 240 ECTS, which involves:
    Completing the core subjects of the program, totaling 162 ECTS. For the diploma, the student must complete an additional 78 ECTS from the remaining courses in the Bachelor of Economics program

    Humanitarian-Social Block

    Code Subject ECTS Semester
    HIST1118Civilizations and Mankind Development6 1,2
    LAWB1155Debates and Critical Thinking6 1,2
    LAWB1177Thinking and Morality6 1,2
    POLI2260Basics of Political Ideologies6 1,2
    ANTH3130Basics of Cultural Anthropology6 1,2
    HIST1222History of Russian occupation in Georgia6 1,2
    LAWB1195Citizenship in the modern world6 1,2
    LITR1212The great Books6 1,2

    Credits sum:

    12

    STEM Block

    Code Subject ECTS Semester
    STEM10106 2
    STEM0002Ingenuity, entrepreneurship and technology6 2
    STEM0003Experiments that changed the world6 2
    STEM0004Game theory6 2
    STEM0005Modern technologies6 2
    STEM0007Mathematics and Civilizations6 2
    STEM0010Logic6 2
    STEM0011Computational reasoning6 2
    STEM0012Biology and Health of the Human6 1,2
    STEM0013Basics of Cyber Hygiene6 1,2

    Credits sum:

    6

    Program Core

    Code Subject ECTS Semester
    BUSN1310Business and Economics6 1
    ECON1290Principles of Microeconomics6 1
    ENGL3213English Language VI (B2/2)6 1
    MATH1011Mathematics for Economics I6 1
    ECON2190Principles of Macroeconomics6 2
    MATH1012Mathematics for Economics II6 2
    ECON2119Statistics for Economics I6 3
    ECON2120Intermediate Macroeconomics I6 3
    ECON2130Intermediate Microeconomics I6 3
    MATH1411Mathematics for Economics III6 3
    ECON2219Statistics for Economics II6 4
    ECON2220Intermediate Macroeconomics II6 4
    ECON2230Intermediate Microeconomics II6 4
    MATH1412Mathematics for Economics IV6 4
    ECON3113Public Economics I (Fiscal Theory and Policy)6 5
    ECON3116Econometrics I6 5
    ECON31236 5
    ECON3115Monetary Policy6 6
    ECON3213Public Finance II6 6
    ECON3110History of Economic Thought6 7
    ECON4115Research methods in Economics6 7

    Credits sum:

    126

    Program Elective

    Code Subject ECTS
    ACCT2122Financial Accounting I6
    ECON3279Principles of Taxation6
    FINA3220Fundamentals of the Investment6
    ACCT2210Basics of Managerial Accounting6
    ACCT2221Financial Accounting II6
    ECON3216Econometrics II6
    FINA2211Principles of Insurance6
    FINA4115Corporative Finances (intermediate)6
    ECON2020Basics of Game Theory6
    ECON4550Economic Sector Analysis and the Stabilization Policy6
    FINA2212Introduction to banking6
    FINA3115Principles of Finance6
    ECON4113Economic Growth and Development6
    ECON4203Bachelor thesis in Economics18
    ECON4217Internship in Economics12
    FINA4250International Finances6
    HOST3221Tourism Economics6
    STAT1122SPSS Information systems for statistical data processing6

    Credits sum:

    126









    Matrix Of Privequisites


    Point GPA The university assessment   The general assessment in Georgia
    97-100 4,00 A+ A Excellent
    94-96 3,75 A
    91-93 3,50 A-
    87-90 3,25 B+   Very good
    84-86 3,00 B B
    81-83 2,75 B-  
    77-80 2,50 C+   C good
    74-76 2,25 C
    71-73 2,00 C-
    67-70 1,75 D+   D Satisfactory
    64-66 1,50 D
    61-63 1,25 D-
    51-60 1,00 E E Sufficient
    Not passed
    41-50   FX FX Insufficient
    <40   F F Failed



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