Overview

The department of economics at King Saud University was the first department of its kind to be established at the Kingdom’s universities. Its history went back to the establishment of the college of commerce in 1957. At that time there has been no

independent department of economics as is the case now, economics used to share one department with the political science. At that time the college of commerce has only two specializations, one economics and political science and the other accounting and  management.

The department assumes the teaching of economics at the level of specialization and at the levels of the college and the university. The department also contributes in teaching activities outside the university in some high colleges and institutes according to their needs.

Concern about study of economics dated back to the development stages of Saudi Arabia. These developments have highlighted the need for setting up intensive economic and social development programs. This requires the qualification of many economic researchers to work in the different departments like the ministries of planning and finance and the planning and follow-up sections at the other ministries and public corporations. The study of economics provides sufficient information about national economy for other specializations and for all public and private bodies in an aim of achieving the objectives of the Kingdom’s economic plans.

The department teaching staff take part in the college research center by presenting academic researches. The department also organizes lectures and economic symposia through the help of experts and official in relevant fields.

In 1410H the college methodology was approved. This includes the methodology of B.SC. in the department of economics, which was implemented effective the first semester 1989/1990. According to this methodology, the student studies the syllabi according to the levels. For each level there are specific courses that student should pass before he move to the second level till he finishes all eight required levels. Students are required to complete 128 hours for graduation.

The department introduced the postgraduate studies in economics (Master degree) in the first semester of 1987-1988. It is the first Master program in economics in Saudi Arabia.

The Department Vision and Mission

The Vision: To have the department of economics at King Saud University a pioneer department in the Arab World.

The Mission:

-          Preparation of high cadres in economics, the conduction of distinguished academic and applied researches and studies and participation in all that severs and develops the society.  

Objectives of the Department

-          Graduation of qualified cadres in economics who possess the necessary skills and knowledge that cope with the needs of the global labor market.

-          Qualification of students by providing them with necessary economic skills and knowledge that enable them to get suitable jobs at the world labor market.

-          Contribute in developing humanity knowledge in the field of economics and to employ this knowledge through the preparation of advanced academic researches.

-          Contribute in solving economic problems that face national economy with its public and private sectors through the offering of consultations and preparation of researches and applied studies. 

Beneficiaries from the Department

Economy occupies an increasing importance at the local, regional and international levels. Economics is closely associated with theoretical and applied social sciences. This requires that students and researchers in the different specializations should be given varying doses of economic sciences. Within the frame of business administration and administrative sciences, the business administration, general management, accounting, financial management, marketing, human resources management, information management systems and the different administrative sciences at the public and private business require economic knowledge in both quality and content according to what is required by the nature of the economic sciences.

Within the frame of other humanity sciences, the departments of politics, law, sociology, education and psychology require an economic background. Other specializations like engineering, architecture, agriculture, tourism, and hotel industry, geography, computer, applied statistics and health sciences also require doses of economics. On the other hand, the one specialized in economics is in need of other specializations as economics is firmly associated with mathematics, statistics and other sciences.

From a practical point of view, economics  is the cornerstone in the activity of individuals and society alike. The individual aspirations to improving his living standards leads him to work and production. Societies keenness for development makes them attach special concern for economic affairs. Countries are also keen on economic competition, achieving high rates of growth, improving the living standards of their citizens and narrowing the economic gap between them and developed countries. Issues of development and growth as well as economic problems like unemployment, inflation, stagnation and others receive increasing concern in the economies of developed and developing countries alike. Economic experts exert efforts to find appropriate solutions for arising economic problems and try to anticipate them before they occur and to place necessary policies to eliminate their effects. From here increases the need for specialists in economic sciences  as their specialization is required by many sectors in the national economy like the industrial, agricultural, commercial, banking, insurance and stock market sectors.

As for the demand for economic specializations at government jobs, there are increasing and urgent needs for graduates of the departments of economics. Many government departments and corporations like the ministries of finance, planning and economy, petroleum, industry, commerce, agriculture, labor and water and electricity as well as the Saudi Arabian Monetary Agency (SAMA), the Supreme Commission for Tourism, the Capital Market Authority, the Industrial Development Fund, the Saudi Fund for Development and others are in need of economics graduates.

The private sector, too, is in need of economics graduates to occupy administrative and leading potions at the industry, commerce and finance businesses. The offices of the regional and international organizations like the Gulf Cooperation Council (GCC), the Arab League, the Organizations of Islamic Conference (OIC), the International Monetary Fund (IMF), the World Trade Organization (WTO), the UNDP and others, are in need for those graduates to work in them or take part in negotiations., meetings and conferences.