Study Economics at the University of Colombo

Advanced level qualification was widely considered as a stepping stone for university education in many countries including Sri Lanka. Only a small percentage of AL qualified students were admitted to state universities and others had been mostly neglected in the past. There are other study opportunities in universities now even if you are not qualified to follow a first degree in a national university as the traditional system has changed. The most of the potential students are still unaware of the existing alternative facilities for their studies in the state universities in Sri Lanka.

If a student fails to gain entry into a state university as an undergraduate, he/she needs not despair. State universities often offer study programs that range from simple certification program through diplomas, postgraduate diplomas, masters to MPhil/ PhDs. There are many extension and postgraduate programs in the university system in Sri Lanka now. The Department of Economics at the University of Colombo has opened intakes for its newest batch of extension students with 9 study programs.

Economics basically focuses attention on the allocation of limited resources among competitive ends in a society. The government, corporate sector, households, and individuals limited resources. Economics makes an individual aware of the choices we are given and the impact of our choices on each other. Economics relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. The way of thinking can help us make better choices. Therefore, Economics is a vibrant and vital field of study. Now economics modules are widely offered even in science, medicine, engineering and management studies. Economics is an essential component in most of the professional study programs now.

Ven. Prof. (Dr) Wijitapure WimalaratanaHead of the Department of Economics at the University of Colombo, spoke about the Department, its teaching faculty members and the facilities offered to the students.

The University of Colombo has been ranked as the best university in Sri Lanka by international categories. The economics department in Colombo is the largest and the most sophisticated economics department in the university system of Sri Lanka. It is also considered as the center of excellence in economics studies and research in the country.

Ven. Prof. Wimalaratana stated that the Department has a strong teaching faculty, with nearly 25 permanent members, out of whom 7 members are professors while the overwhelming majority of them hold Doctorates. The educational qualifications and the research and publications of the teaching faculty staff have served to strengthen the quality of education at the Department.

With nearly 150 undergraduate students gaining entry into the Department via the Advanced Level examination each year, the Department is home to nearly 500 undergraduate students at any given time. With the recent introduction of the special streams, the Department has ceased to offer general degrees to these students. Now they have to do either four year special degree or three year streams in economics.

The other category of students at the Department, Ven. Prof. Wimalaratana stated, are those that apply for extension and postgraduate study programs that range from a simple certificate to postgraduate diplomas, masters and PhD level programs. There are over 500 extension students who study at the Department, leading to a student body over 1000 including undergraduates.

The students are also given the opportunity of being exposed to other cultures. Aside from the local student population, the Department offers study programs to global students from China, India, Maldives, Vietnam and Nigeria. Rev. Prof. Wimalaratana stated that while numbers are still relatively small, the global student population at the department is gradually increasing, as the demand for the programs increases.

With the collaboration that lasted from 1987 to 2000 with the Institute of Social Sciences (ISS), in The Netherlands, the Department has been able to receive new inputs as to its programs and as a result of this collaboration is the introduction of a number of extension programmes.

One advantage for the extension students is that while the student may not have his first degree, there is a path that allows him/ her to eventually progress to his PhD. Rev. Prof. Wimalaratana stated that such a student can begin his studies with a simple diploma, then move on to the executive diploma, the postgraduate diploma, the MPhil and eventually the PhD. The work experience, skills and maturity is extremely important in this endeavor.

The Department, Ven. Prof. Wimalaratana explained, has a key number of extensive programs, and better infrastructure facilities such as a library that boasts the best economics book collection within the Sri Lankan university system, a good computer lab and lecture rooms with multi-media facilities and a/c facilities, funded through the generated money of the extension programs.

The extension programs are conducted in English medium, as is the special degree for the undergraduate students as all have to compete in the global economy now.

The Department of Economics is now calling applicatios for PhD in Economics, Master of Financial Economics (MFE), Masters in Economics (MEcon), Postgraduate Diploma Leading to Masters in Tourism Economics and Hotel Management, Postgraduate Diploma in Economic Development (Pg.DED), Executive Diploma of Business and Financial Economics (EDBFE), DTTEHM), Certificate Program in Travel Tourism and Hospitality Management (CTTHM).