The degree of Bachelor of Business in Applied Economics was established in 1993 as another area of specialization at the Nanyang Business School.  Its aim is to train a group of students who would be well versed in applying economics in various fields.  In particular, students will graduate with an extensive knowledge in Econometrics and Economic Theory.  This will ensure that the students are able to match theory with application in a meaningful manner.  In addition, they will also read topics like Economic Development, International Trade and Finance, Financial Economics, Industrial Organization, and take a course in contemporary issues in Economics.
There are two compulsory courses in Econometrics.  The first course will cover various issues in regression analysis.  This is meant to build the foundation for the second course.  In the second course, students will be exposed to special topics such as time-series analysis, forecasting and simulation.  The main emphasis in both these courses is hands-on training.  A good deal of time is allocated for lab sessions where the students are required to used the prescribed software for their analysis.  This will ensure that all graduates will be knowledgeable in at least one econometric software and be well versed in using it.
Similarly, there are two compulsory courses in Economic Theory.  These courses cover in detail areas in both Micro and Macroeconomics.  Upon finishing these courses, students will have a good understanding of welfare economics, strategic behaviour in various areas like pricing, trade and auction, macroeconomic policies and issues pertaining to long-term economic growth.
In order to ensure that they do indeed apply what they know, each student is required to embark on a research project under the supervision of a faculty member. Every project will have empirical content requiring the students to apply what they have learned in Econometrics and a model supported by sound theory.  The students are strongly encouraged to work on their projects alone.  This is to allow each student to go through all the steps needed to get the project done.  Over the years, projects that are well done have been published in books and, in some instances, international refereed journals.
The students are also required to go on an eight-week professional attachment.  Over the past few years, students specializing in Applied Economics have worked at various organizations that allow them to apply what they have learned.  These include financial institutions like banks and stock broking houses, government-linked companies, mult-national corporations, and small and medium sized enterprises. In many instances, these organizations have hired the students attached to them upon their graduation.
Since the inaugural class of 21, the Applied Economics specialization has doubled in size today.  It has and is continuing to attract some of the best students in the school.