Economics


PHILOSOPHY:

The Philosophy of the Economics programme is to produce graduate Economists that are well equipped with qualitative education and skills, to become job creators rather than job seekers and to achieve some set of goals that would better the lives/lots of the populace. They are to answer what constitutes the good life which is a question as old as philosophy and humankind, one that must be periodically re-evaluated and answered afresh in the changing environment of the world society.    The Department therefore provides the awareness that economics is a subject offering powerful insights about the world in which we live and to seek for solutions to the ever increasing problems that may arise. So, a major guiding philosophy of the Department has, therefore, been to emphasize a blend of theory, applications and policy analysis that brings economics across as the live of social sciences and for students to understand today’s discussion of tomorrow’s problems. Our philosophy in summary covers economic applications in relations to the theory upon which their solution depends and to be able to abstract using simplified models that identify the essence of a problem; analyse and reason both deductively and inductively and communicate concisely the results to a wide audience, including those with no training in Economics.

2.4       Objectives                                                                                           

The objectives of the undergraduate programme are to produce graduates who possess a reasonable grasp of concepts, theories and techniques of economic analysis; who possess a basic knowledge of the facts and problems of economic life in the industrial, capitalist and developing areas of the world with special focus on Nigeria; and who are equipped with a foundation in research experience and an understanding that mainstream economics is either application or a normative social and political theory. It is hoped that the undergraduate programme will provide an adequate preparation for either a scholarly career or a career of responsibility in any other field where the knowledge and skills of economists are needed. In particular, the aims of the programme of the department of Economics are:                         

  1. a) To stimulate students intellectually through the study of economics and to lead them to       appreciate its application   to   a range   of          problems   and   its relevance in a      variety of contexts.
  2. b) To provide a   firm   foundation   of knowledge   about   the     workings of   an economy and to develop the relevant skills for the        constructive   use of    that      knowledge in a range of settings.
  3. c) To make the student develop the ability to apply the analytical tools, knowledge       and      skills acquired to the solution of societies' economic         
  4. d) To equip students with appropriate tools of analysis to tackle issues and      problems of economic policy of Nigeria in particular and the            non- industrialized, West African and African regions in general.
  5. e) To develop in students, a range of transferable skills that will be of immense value in employment and self-employment.
  6. f) To provide students with analytical skills and the ability to develop                        simplified frameworks for studying the real world.

 

3.1       Mode of Entry and Duration

A candidate can be admitted into the B.Sc (Economics) degree programme either through the Unified Tertiary Matriculation Examination (UTME) or Direct Entry. While the UTME candidates spend four (4) years on the programme, the Direct Entry candidates spend three (3) years.

In order to be eligible for admission into the programme all prospective students are expected to satisfy the following requirements:

  1. For admission into 100 level, (UTME) candidates must possess five (5) credits at SSCE, General Certificate of Education (GCE), NECO or its equivalent in  Mathematics, English Language, Economics and two other subjects in not more than two sittings; and score acceptable points in the UTME in relevant subjects. In addition, candicates must have acceptable passes in UTME.
  2. For admission into 200 level (Direct Entry), candidates should (in addition to having five (5) SSCE credit passes as in i above), obtain a minimum of two (2) A level (or its equivalent) passes in Economics, have an OND or HND or possess a good first degree in a relevant field as the case may be.

 

3.2       Regulations for the Award of B.Sc. Degree in Economics

  1. The Department of Economics offers a B.Sc. Degree in Economics to two sets of students namely:-

Four (4) year UTME programme; and

Three (3) year Direct Entry programme

  1. In order to obtain a B.Sc. degree in Economics under the four year programme, a student must successfully complete courses up to a minimum of 130 credit hours and a maximum of 144 credit hours. At least eighty (80) of these credit hours must be in courses offered by the department (core courses).
  2. To obtain a B.Sc. Economics degree under the three-year programme, a student must successfully complete courses up to a minimum of 103 credit hours and a maximum of 117 credit hours. At least 74 of these credit hours must be in courses offered by the department (core courses).
  3. A student must take the number of units indicated in the programme per semester. A credit unit can be defined as one hour of lectures; one hour of tutorial; two hours of seminar; three hours of laboratory or field work; six hours of teaching practice and four hours of industrial attachment where applicable.
  4. A student must satisfy the departmental requirements in his/ her selection of compulsory and optional (elective) courses. A compulsory (or required) course is one a student must take and pass in. In other words, no student who fails a compulsory course can be awarded a degree. An optional (or elective) course is one where a student must take but not necessarily pass in. This is to say that, a student who fails in an optional course can still be awarded a degree. Should a student find it necessary to leave an optional course taught in the department for another course taught outside the Department, the permission of the Head of Department must be sought /obtained.

 

 

Courses for B.Sc. Economics

 

100 LEVEL First Semester

Course Code

Course Title

Units

GST 111

Use of English 1

2

GST 113

Nigerian people & culture

2

GST 114

History and Philosophy of science

2

ECS 111

Principles of Economics 1 (Micro)

3

ECS 112

Introduction to Business

3

ECS 113

Introduction to mathematics for Economics 1

3

ACC 111

Principles of Accounting 1 (Elective)

3

BAF 111

Introduction to Money & Banking (Elective)

3

 

TOTAL CREDIT HOURS

18

  • One Elective

 

 100 LEVEL Second Semester

Course Code

Course Title

Units

GST 121

Use of English 1

2

GST 122

Philosophy of Logic

2

GST 123

Citizenship Education

2

ECS 121

Principles of Economics II (Macro) 

3

ECS 122

Nigerian Business Environment

3

ECS 123

Introduction to Mathematics for Economics II

3

ACC 111

Principles of Accounting II Elective

3

BAF 111

Nigeria Banking System Elective

3

 

TOTAL CREDIT HOURS

18

  • One Elective

 

200 Level First Semester

Course Code

Course Title

Units

GST 211

Introduction to Computer Science

2

GST 212

Peace and Conflict Resolution

2

ECS 211

Micro Economics Theory

3

ECS 212

Principles of Marketing

2

ECS 213

Principles of Management

3

ECS 214

Structure of Nigerian Economy 1

2

ECS 215

Introduction to Labour Economics

3

ECS 216

Mathematics for Economics III

3

ACC-211

Business Statistics I (Elective)

3

ACC 214

Introduction to cost Mgt. Accounting Elective

3

 

TOTAL CREDIT HOURS

23

  • One Elective

 

200 Level Second Semester

Course Code

Course Title

Units

GST 221

Application to Computer Science

2

GST 222

Health Awareness Studies

2

ECS 221

Macro Economics Theory

3

ECS 222

Urban & Regional Economics

3

ECS 223  

Mathematics for Economists IV

3

ECS 224

Structure of Nigerian Economy II

2

ECS 225

History of Economic Thoughts

3

ECS 226

Introduction to Monetary Economics

3

GST 224

Entrepreneurship Development 1

2

 

TOTAL CREDIT HOURS

23

 

 

 

 

 

300 level First Semester

Courses code

Course title

Units

GST 311

Entrepreneurship Development II

2

ECS 311

Intermediate Micro Economics

3

ECS 31 2

Econometrics I

2

ECS 313

Financial Institutions & Policies

3

ECS 314

Applied Monetary Economics I

2

ECS 315

Applied Labour Economics

2

ECS 316

Applied Statistics I

2

ECS 317

Community Development Service

1

ECS 318

Human Resources & Manpower Devt.

3

ACC317

Financial Management - Elective

3

ACC312

Cost Accounting - Elective

3

 

TOTAL CREDIT HOURS

23

  • One Elective

300 Level Second Semester

Courses code

Course title

Units

ECS 321

Intermediate Micro Economics

3

ECS 322

Econometrics II

2

ECS 323

Introduction to Taxing System

3

ECS 324

Applied Monetary Economics II

2

ECS 325

Research Method for Economics

2

ECS 326

Mathematical Economics

2

ECS 327

Public Sector Economics

2

ECS 328

International Economics

2

ACC317

International Finance - Elective

3

ACC312

Elements of Government - Elective

3

 

TOTAL CREDIT HOURS

21

  • One Elective

 

400 level First Semester

Courses code

Course title

Units

ECS 411

Advanced Micro Economics

3

ECS 41 2

Project Evaluation & Feasibility Studies

3

ECS 413

Taxation & Fiscal Policy

2

ECS 414

Comparative Economic System

2

ECS 415

Industrial Relations & Personnel Mgt.

3

ECS 416

Petroleum Economics

3

ECS 417

Applied Statistics II

3

ACC415

Seminar (Elective

3

BAF411

Public Finance Elective

3

 

TOTAL CREDIT HOURS

22

  • One Elective

 

 

 

 

Year 400 Second Semester

Courses code

Course title

Units

ECS 421

Advanced Micro Economics

3  

ECS 422

Economic Problems & Policies of Development

3

ECS 423

Research Project

6

ECS 424

Economic Planning

2

ECS 425

Production Economics

2

ECS 426

Advanced Mathematical Economics

3

ACC415

Management information System - Elective

3

BAF411

Banking Information - Elective

3

 

TOTAL CREDIT HOURS

22

 

 

Course Description for B.Sc. Economics

The curriculum structure of the department of Economics of Obong University is made up of three major components which include:

  1. General Studies (GST)
  2. Faculty courses which are courses developed from

Accounting, Banking & Finance Department.

iii. Department courses which are core Economics courses for award of Bachelor of Science (B.Sc) degree in Economics. Students must pass all the required courses in the three groups. The department of Economics only prepares course outlines and their descriptions that are originated from the department alone, that is, courses from the Economics Department.

 

ECS 111 Principles of Economics I (Micro) 3ch

This course is designed to expose to the students the background knowledge of Economics and its principles such as; what Economics is all about from various authors and scholars and their views. The scope and its basic concept. Tools for economic analysis, why Mathematics, Graphs and Charts are useful tools.

Economic problems in the society and the economic systems. The price theory i.e. Demand and supply analysis, equilibrium condition. Elasticity of demand and supply and its applications to economics.  The Market structure, Elementary theory of production and production functions.

Theory of cost and its concepts as well as the consumer theory.

All these form the background understanding to students concerning Micro Economics Theory.

 

ECS 112 - Introduction to Business 3ch

This course is to inculcate a general idea in business administration; such as: the framework of business, types of business organization, Management functions in business, the role of profit in business promotion, products promotion and pricing, Role of Government in Business, the role of international bodies in business and small scale business management.

 

 

 

ECS 113 introduction to Mathematics for Economics I - 3ch

This course introduces student to mathematical concepts, symbolic logic complex numbers, introductory set theory, functional relationships probability, Linear functions, breakeven analysis, inequalities; Polynomials, Graphs, slopes and intercepts as well as their application in economics.

 

ECS 121 Principles of Economics II (Macro) 3ch

This course deals with some basic principles of Macroeconomics theory which includes tools for macro-economic analysis, Measure of dispersion, Linear regression, The Labour market-demand, supply of money, Money value and price index, inflation effects, trends and control, taxes and taxation, budget and sources of government revenue elementary theory of income determination, circular flow of income in a closed economy, equilibrium, propensities and the multiplier.

 

ECS 122 Nigeria Business Environment 3ch

Nigeria Business Environment is a course that tends to expose students to the nature of businesses in Nigeria and how Nigerian environment affects the business development. Business circle, nature of Nigerian businesses, Business and security, social responsibilities and business ethics. Business system, Human resources function, financial function, accounting function and information management Nigerias’ perception as well as   challenges   and opportunities in Nigeria business environment.

 

ECS 123 introduction to mathematics for Economists II 3ch

This course covers areas such as: Mathematical concepts in the Social sciences and introduces students to the application of mathematics in Economics. Other topics include Set theory, Factors and exponents, Logarithms, Trigonometry, equations, functions, graphs, progressions, co­ordinate geometry, trigonometric functions and the inverses; Inequalities, the remainder theorems; partial fractions; determinants etc.

 

 

 

ECS 211 - Micro Economic Theory 3ch

Micro Economic Theory deals with issues like nature and scope of micro economics difference between Micro - economics and Macro - economic systems and social framework, model building, Economic theory, deductive and inductive method, partial and general equilibrium; mathematics in microeconomic analysis. The price mechanism, price theory functions of price, demand and supply analysis; price determination and market adjustment, free market and price control, price control and aggregate approach. Elasticity, price, income and cross elasticity of demand, supply elasticity and further mathematical treatments. Theories of consumer behaviour - ordinal, cardinal utility and revealed preference theory of consumer; and assumptions. Theory of production. Production – isoquant and isocost approach. Theory of cost: explicit and implicit cost. Short run and long run cost of production. Theory of firm; profit maximization and its mathematical treatments, cost minimization and its mathematical treatments. Introduction to market structure.

 

 

 

ECS 212 Principles of Marketing 2ch

Principles of marketing are built up with the following topics: what is marketing and the need for marketing. Core concepts of marketing, better system of marketing, monetary transactions. Marketing needs; marketing as a means to meet the needs of people in a manner like self sufficient, decentralized and centralized exchange. Professionalism (marketing as a profession). Professional marketing strategy e.g Banking, insurance and the marketing strategies. Marketing planning, various state of demand, marketing philosophies and selling concepts. Marketing management process - marketing opportunities, marketing segmentation, positioning and marketing mix. Micro marketing environment, marketing intermediaries, customers   and   competitive   marketing   environment - demographic environment, natural economic, technological, political and socio-cultural environments, effects and roles in marketing. Marketing information system-information   needs;   developing   information   intelligence  gathering   and sources of intelligence marketing research process.

 

ECS 213 Principles of Management - 3ch  

The objective of this course is to equip the students on the general understanding of management principles. It covers issues such as; Historical background of management, school of management thoughts and their approaches. Administrative approach, problem solving process, Roles of a manager: characteristics and responsibilities, functions of management; planning functions and reasons. Organizational strategy, Management by objective (MBO) and its benefits. Organizing function, coordinating function, delegation and decentralization, Specialization and Span of control.

 

ECS 214 Structure of Nigerian Economy 1 - 2ch

The structure of Nigerian economy takes a look at the economic structure from its origin i.e. during the pre-colonial, colonial and post colonial starting from 1960. It focuses on issues like; meaning, type of economic system, major element of structural diversity, Rolling plan and transformation, Agricultural system in Nigeria, Rural-Urban drift, Agricultural policies and prospects, its contribution to economic development in Nigeria. Industrial sector in Nigeria’s economy - the mining sector evolution, location, dominance of crude oil mining, problems and the bureaucracy.

 

ECS 215 Introduction to Labour Economics 3ch

This course is designed for Economics students to introduce the study of labour market, labour force and their relationship in an economy. It deals with the nature and scope of labour. Role of labour, labour productivity, earnings and labour as a cost of production. Labour force population's size and its implication in the labour force, sectorial distribution, female participation, the labour force and factors affecting them. Theories of labour market - classical, Keyensain and Neoclassical theories, dual labour market, external and internal, alternative theory of labour market, external and internal, labour demand and supply, Elasticity of demand for labour by firms, labour, supply determinants and equilibrium wage rate. Labour movements in Nigeria, trade union structure, wage raise strategies and benefits of labour union. Modern labour legislation.

 

 

 

ECS 216 Mathematics for Economists II  3ch

This course is to expose student to the understanding of mathematical techniques and how to apply them in economics. It therefore deals with topics like, Theory of sets and its relationship. Arithmetic and geometric progressions, permutation and combination, Binomial theorem and expansion, the concepts of limit and continuity. Theorems of continuous function, Differentiation and integration, concepts and roles of differentiation, implicit, logarithmic, exponential and trigonometric functions. Functions of one variable f(x) or "f at x" y= f(x). Special functions and Economic implications.

 

ECS 221 Macro Economics Theory 3ch

Macro economic theory is a course meant for all students in management science. It deals with issues like; Nature, and scope of macro economics and what macro economics is all about, positive and normative approach. Macro - economic policies and models. Instruments, objectives and goal of macro economics policies, national income and product determination stock and flow, circular flow of income in an open economy GDP, GNP, NDP, NNP, and Nl, and its equilibrium conditions. Theory of consumption, Absolute income hypothesis, saving function, relative income, transitory and permanent income and other determinants of consumption, Theory of investment accelerator theory, marginal efficiency, Neoclassical model Tobins “q" theory PBP, ARR, NPV and other determinants of investment; IRR, TAD, cost benefit ratio (CBR). It also treat issues like; the Aggregate demand and income determination to two sector model, three sector model and Balance multiplier.

 

ECS 222 Urban and Regional Economics 3ch

This course can be referred to as Economic Geography. It takes a view of the region which the student is undergoing the study. It deals with issues such as; Overview of urban centres in West African region, Historical views rocks and relief, weather and climate, water drainage and services, vegetation and plant. The people and their settlements - Nigeria, Ghana, Ivory Coast and the off-shore Islands. Farming system - animals, food production, problems and prospects. Population distribution, trend and problems as well as International grouping.                           

 

ECS 223 Mathematics for Economists II 3ch

Extensions of integration, differential equations up to second order linear equations; extension of set theory; vectors and matrices; matrix inversion, applications to input-output analysis and the solution of simultaneous equations. Mathematical modeling of economic growth.

 

ECS 224 Structure of Nigerian Economy II 2ch

Structure of Nigerian Economy II is a continuation of structure of Nigeria Economy I. It tends to examine the update of Nigerian Economic Structure. The power sector - electricity sub sector composition; generation; infrastructure, transmission and distribution, consumption and problems, privatization and commercialization of the sector - Petroleum industry. Its contributions, employment, crisis, negative and positive impacts of NNPC; OPEC and their roles in Nigeria economy. The economy and social sectors - educational development; structure of Nigerian education 6-3-3-4 system and its impacts.  University and inter-Universities centre: problem and prospects. Financial sector - Central Bank and its developmental functions, the government, Nigerian's fiscal system, allocation of functions. Exclusive and concurrent legislative list. Local Government - income generation and distribution; External sector export and trend. Transport and communication.

 

 

ECS 225 History of Economic Thought  2ch

This course takes a look at Economic theorists i.e. the understanding of the origin and historical development of the course "Economics". Therefore the following are brought to focus. The Physiocrats and their Economic phenomena, Economic thoughts in Antiquity, the scriptural perspective (13th to 16th century), Aristotle, St. Thomas Aquinas view, etc. The medieval Economic thoughts, Mercantilism, Phsiocracy assumptions and view (1500-1750AD). The classical Political Economist (Ricardo and Marxian school of thoughts, Karl Mark 1818-1883). Tools, methodology and aims of Marxism. Neoclassism (Neo- classical) scholars (1870-1900) J.M. Keynes tools, methodology and aims.

 

ECS 226 - Introduction to Monetary Economics 3ch

This course is to build a foundation on the study of monetary economics. What is money, essence and importance of money in an economy. Why study monetary economics. Structure of banking system and trading with Instruments (monies). Nature and meaning of money supply and determination of money supply. Demand for money motives. Theories of money demand. Determination of total money demand.  Keynesians versus monetarist, Tobin's theory of liquidity preference and  portfolio  balance approach. Interest rate theory and structure, location, loanable fund and interest rate.

 

 

ECS 311 Intermediate Micro Economics 3ch

More advanced and mathematical treatment of micro-economics theory with more incorporation like; Linear programming. Price theory and output determination. Analysis of perfect competition (market structure) monopoly, oligopoly, monopolistic competition. Short run equilibrium of competitive model, short down period and level of output. Price discrimination; factor prices demand for factor, MRPT, wage determination in a perfect labour, market equilibrium and economic rent, income distribution. Production and types of production functions variable input ratio. MRTS, economic region DMRTS, least cost rule and optimal input choices. Theory of cost; unit cost-output relationships, production, cost and short run supply relationship; criticism of the traditional cost theory.

 

ECS 312 Econometrics I 2ch

Econometrics 1 is a course that examines the theoretical statistical and mathematical impacts of microeconomic theories: the role and scope of Econometrics in economic analysis. Simple linear Econometrics model. The firsts order tests. Theory, mathematics and statistics in economic analysis of consumer behaviour, utility functions/difference curves and rate of commodity substitution, utility maximization, demand function, income and leisure, substitution and income effects. Regression line, ordinary least square analysis, multi-colinerity.

 

ECS 313 Financial Institutions and Policies 3ch

Financial institutions, markets and contemporary issues are a compendium of Nigerian financial system, institutions and relations. It takes into cognizance, globalization and the new economic order, contemporary issues, such as Monetization, money laundry, banking sector reforms, resource control, EFCC and micro finance banking. Structure/institutions in Nigeria financial system. The CBN (Central Bank of Nigeria). Commercial banks, Merchant banks, development banks and communities banks, structures, functions and their relationship. Bank crisis and reform legislation Non-banking, institution, NDIC, Insurance companies structure, functions and their relationship to CBN and other banks. The money market, capital market and other financial intermediaries. Money/financial

of money supply. Demand for money motives, theories of money demand. Determination of total money demand.  Keynesians versus monetarist, Tobin's theory of liquidity preference and  portfolio  balance approach. Interest rate theory and structure, location, loanable fund and interest rate.

 

ECS 311 Intermediate Micro Economics 3ch

More advanced and mathematical treatment of micro-economics theory with more incorporation like; Linear programming. Price theory and output determination. Analysis of perfect competition (market structure) monopoly, oligopoly, monopolistic competition. Short run equilibrium of competitive model, short down period and level of output. Price discrimination; factor prices demand for factor, MRPT, wage determination in a perfect labour, market equilibrium and economic rent, income distribution. Production and types of production functions variable input ratio. MRTS, economic region DMRTS, least cost rule and optimal input choices. Theory of cost; unit cost-output relationships, production, cost and short run supply relationship; criticism of the traditional cost theory.

 

 

 

ECS 312 Econometrics I 2ch

Econometrics 1 is a course that examines the theoretical statistical and mathematical impacts of microeconomic theories: the role and scope of Econometrics in economic analysis. Simple linear Econometrics model. The firsts order tests. Theory, mathematics and statistics in economic analysis of consumer behaviour, utility functions/difference curves and rate of commodity substitution, utility maximization, demand function, income and leisure, substitution and income effects. Regression line, ordinary least square analysis, multi-colinerity.

 

ECS 313 Financial Institutions and Policies 3ch

Financial institutions, markets and contemporary issues are a compendium of Nigerian financial system, institutions and relations. It takes into cognizance, globalization and the new economic order, contemporary issues, such as Monetization, money laundry, banking sector reforms, resource control, EFCC and micro finance banking. Structure/institutions in Nigeria financial system. The CBN (Central Bank of Nigeria). Commercial banks, Merchant banks, development banks and communities banks, structures, functions and their relationship. Bank crisis and reforms legislation Non-banking institutions, NDIC, Insurance companies’ structure, functions and their relationship to CBN and other banks. The money market, capital market and other financial intermediaries. Money/financial 21

market regulations, macroeconomic management and monetary policies. International financial market and money laundering in Nigerian. Economic and financial crime commission, function and funding. Bank reforms and recapitalization. Unit Trust scheme, Globalization and securities market. Financial sector soundness and legal perspective. Business combination, resource control and fiscal federalism in Nigeria.

 

ECS 314 Applied Monetary Economics 1  2ch

This course is built up from the introductory monetary economics: Term structure of interest rates theories, liquidity and segmented market theory. Monetary policy objectives and attainments, price stability and economic growth. Instruments for monetary policy, problems, stability and balance of payment equilibrium. Fiscal policy goal and techniques of fiscal policy, fiscal policy and limitation, credit, credit market analysis. Financial statement and ratio analysis. Treasury management, Cooperate treasury and bank treasury management. Inter­bank instruments.

 

ECS 315 Applied labour Economics  2ch

Applied labour Economics takes a look at the following issues Unemployment, inflation and under-employment, employers' association, collective bargaining. Wage determination and appointed commissions in Nigeria. Poverty and discrimination, Child labour and worker mobility in developing countries conceptual framework and empirical evidence. Public policy and market stability. Labour management system. Industrial conflicts and trade unions.

 

ECS 316 Applied Statistics 1 2ch

Applied statistics takes a look at the applications of statistics in economics theories as an aid for decision making. It is designed to take on the following: Descriptive statistics. Role of statistics, concepts, data, population, variable, sample, discrete and continuous variable, measure of central tendency; frequency distribution and standard deviation, coefficient of variation, moment, skewness and kurtosis. Probability theory and distributions, sampling theory and distributions. Stimulation theory. Hypothesis testing. Correlation and regression analysis.

 

ECS 317 Community Development Services 1ch

Community development service is a course that inculcates the idea of handling a mini-project in the University community such as filling of sand in a pit, digging of drainage system. Creating run-off channel for standing water. Cutting of grasses and bushed around the community (University community in particular). Students can be grouped in a minimum of 5 and maximum of 10 in each group.

 

ECS 318 Human Resources and Manpower Development 3ch

Human resource study has to do with the general subject matter such as: Role of human resource manager, (personnel manager), manpower planning and manpower development, characteristics of manpower in developing countries. Job analysis description and specification. Manpower recruitment: factors that determines sources of recruitment in Nigeria. Investment of human capital conceptual framework, education and training, cost model and its implication, the role of higher education in human capital development. Problems associated with human capital theory.

 

ECS 321 Intermediate Macro Economics 3ch

Intermediate Macro Economics takes its design with more mathematical approach on issues like: National income accounting; unpaid services, depreciation, danger of double counting. Consumption theory, life cycle hypothesis and other determinants of consumption. Government expenditure revenues and taxation, government budget. International theories and assumptions, factor endowment, economic integration. Exchange rate theories (PPP) Purchasing Power Parity, (OIP) Open interest parity, News model and speculative dynamic model. Balance of payment (BOP) devaluation, income-absorption and monetary approach; income determination multiplier. The three sector model; government spending multiplier, balance budget, multiplier, Gap analysis. Phases of business cycle. Four sector model (open economy) external economy product (commodity) market. The IS model; IS-curve, derivation and two sector model, three sector model. Money market and money supply. Keynesian theory of LM curve. IS-LM equilibrium.

 

ECS 322 Econometrics II 2ch

This is a continuation of the application of statistics, mathematics in Economics theories. Econometrics II deal with issues such as market equilibrium assumptions, external and internal dis-economies; commodity market equilibrium-different cost conditions and rent. The following issues are considered in more advanced level; multi-regression analysis, Auto correlation; sources, consequences, tests of auto correlation and solution to incidence auto correlation, identification and concept of identification.

Heteroscelasticity, multicolinearity, further, treatment on simultaneous equation model, first and second order tests, model interpretation.

 

ECS 323 Introduction To taxing System 2ch

This curse is designed to build the foundation on taxation starting from; what taxation is all about and what is tax? Concepts of taxation, systems of taxation, types of taxes, objectives of taxation and economic effects, incidence of taxation, principles of taxation. Sources of local government revenue. Budget; public revenue allocation in Nigeria, revenue allocation commissions and problems, public finance and fiscal policy, personal income tax, investment spending-state and local government expenditure, state and local taxes, intergovernmental grants-and-aid, value added tax (VAT).

ECS 324 Applied Irionetary Economics ll-2ch

Inflation and economy, poverty in Nigeria and contemporary issues, public debt and debt management strategy, macro-credit and the Nigeria Economy, Privatization and commercialization-Nigeria's case, comparative banking, Nigeria stock exchange market, marketing of financial services, Economic integration and the common market issues of common currency, foreign trade payment system and exchange rate policy.

ECS 325-Research Method for Economics-2ch

Research method for economics is to lay a background on how students should undertake academic research work, especially during the research project and how to present research report. Definitions and functions of research-reality and existence, reality of facts, theories, laws, constructs and method of scientific study-inductive and deductive. Types of research; historical, experimental, descriptive, survey, ex-post facts, case study and applied research. Writing research in a standardized format, sample format of a project.

Thesis delimitation, explanations of preliminary section, main body of research, delimitation or scope of the study, limitations of the study, definition of terms, literature review, importance, organization and sources of published data, research methodology, measurement, validity and reliability of data, data presentation and analysis, discussion of findings summary, conclusion, recommendations and suggestion, nature and applications of statistics in data analysis.

 

ECS 326; Mathematical Economics-2ch

 

It is a building block of the application of mathematical concepts to economics theories such as, multivariable function and partial derivative, differential and total differentiation. Maxima and minima. Economics applications of integration- differential equations. Economics application of Matrix Algebra. Mathematical treatment of time path of population. Mathematical treatment of consumer's surplus. Mathematical treatment of the Keynesian Model of income determination, Mathematical treatment of taxation on profit maximization. Mathematical treatment on constrained Expenditure minimization.

 

ECS-327Public Sector Economics-2ch

Public sector economics is built to articulate to students the theories, principles, issues and applications of public goods, public funds, and general welfare to the benefit of the public. It deals adequately with these questions and issues like, the Basic concepts and methods, nature and scope of public sector economics, private and public sector integration, methodology, welfare theory and public decision making. The nature and measurement of welfare function. General welfare measurement of social welfare, cost- benefit analysis, ESI,CS PS and change in welfare. Analysis of welfare maximization. Economics efficiency and pareto optimality-RPF, UPF, GUPF and global efficiency. One-person economy, two person economy, Bliss point and Bliss solution. Social welfare function, construction of social welfare function; preference ordering proof of Arrow's impossibility theorem, Bergsonian SWF and optionality. Allocation of resources. Efficiency of allocations' institutions, allocation mechanism, central planning and Pareto optimality, Lange model, externalities in the Lange's solution, proof of Pareto optimality, rationale for government intervention. Market failure:- causes, insufficient control, imperfect excludability and duality externality government failure. Public goods and the allocation problems.

 

ECS 328 international Economics ll-2ch

Introduction to the theory of trade and international finance; incorporating various presentation of theories on the international trade, balance of payments, foreign protection; the use of international trade in expanding contemporary international relations, international relations and diplomacy, Exchange rate policy, External debts and remedies.

 

ECS 411 Advanced microeconomic theory-3ch

Fundamental quantitative relationship, general equilibrium and disequilibrium, dynamic analysis, value theory, production function-further treatment of duopoly, oligopoly, bilateral monopoly, Theories of determination of wages, rent, interest and profit, optimization in theories of consumption and production, The notion of economic efficiency, Efficiency and equity-social welfare functions, game theory-prisoner's dilemma, payoff matrix of strategic pricing, factory market and income distribution, Market failure and government intervention.

 

 

 

ECS 412 Project Evaluation and Feasibility studies- 3ch

Comparative view of small scale business, medium and large scale business and its administration, Role of small business enterprises and entrepreneurs in the economy, feasibility study for establishing a small manufacturing venture. The overview steps of writing feasibility report, problems evaluation and financial report, sources of financing a project, Appraisals of project, information management, government involvement in project development.

 

ECS 413-Taxation and Fiscal Policy-2ch

Tax and taxes in Nigeria, the overview, companies income tax administration in Nigeria imposition of tax and profits chargeable, return and assessment taxes, capital allowances, ascertainment of profit and computation of tax liability, ascertainment of assessable profits, withholding tax, value added tax, education tax, pioneer legislation and trust funds.

 

ECS 414 Comparative Economic system-2ch

Classification and analysis of economic system, communism, slavery feudalism, capitalism, system in transition, features of underdeveloped countries, political leadership, quality of development, comparison of developed and less developed countries (LDCs), concept and ramification of scientific culture in developed and less developed countries, technological advancement-developed and developing countries. Industrialization; the case of China, Japan and Caribbean countries.

 

ECS 415 Industrial relations and personnel management-3ch

Industrial relations and personnel management is designed to deal with issues such as: the labour management system, environment of labour management system, framework for analysis-Oxford approach, Marxian approach and classical/modern day-labour system, trade unionism, labour 26

association, industrial conflict and industrial democracy, collective bargaining and decision making under conflict and labour management negotiation strategies.

 

ECS 416 Petroleum Economics-Sen

This course is designed to expose students to the general understanding of the studies of petroleum economics such as: Development of petroleum industry, roles of petroleum in Nigerian economy, its contribution; positive and negative impacts, the oil glut, the Nigerian National Petroleum Company (NNPC)'s role; production, refining, marketing. The Organization of Petroleum Exporting countries (OPEC) role, problems and prospects. Industrialization and economic development, energy crisis in Nigeria, petroleum profit tax accounting period, disposable chargeable oil, intangible drilling cost, non productive rent, Liquefied Natural Gas (LNG) and oil prospecting license.

 

ECS 417- Applied Statistics ll-3ch

Applied Statistics in the financial course for under graduates in economics. It is to abreast students understanding on statistical tests. Topics like Axioms, statistical inference, sampling theory and distributions, testing hypothesis, internal estimation, time series analysis, correlation and Regression, price index number, parche's index number, Tests of Adequacy and poison.

 

ECS 421 Advanced macro economics 3ch

Basic model of income and economic stability, inflation trade-off and Philips curve, fiscal and monetary policy Automatic (built-in), stabilizers. Instruments of monetary policy. The macroeconomic stabilization policy, the policy debate-classical position, Keynesian position and comparative view, the monetarists and the fiscalists, major school of thought in macroeconomic model, further treatment of money market. Macro-economic model, further treatment of both IS-LM curves.

 

ECS 422-Economic Problems and Policies of Development-3ch

What is economic problem- methodology of determination of economic problems, Development and under- development: meaning, instruments for determining development, Development planning, needs for policy intervention, planning externalities and third- party effects, the economics, the policy and the society, policy response and concepts of abdullistic capitalism, the Nigerian drama, the setting and the political leadership in 27

Nigeria, development policy and the place of scientific culture, economic and non-economic factors in development structural transformation.

 

ECS 423-Research Project-Ben

This is designed to examine the overall idea of a prospecting graduate in order to improve their ability and to develop such topic in accordance with the research procedures under the supervision of a lecturer. A student will be required to present two (2) topics of his or her choice on which one (1) will be Approved. The student will be tested on oral question to examine his or her understanding of the related concepts and literatures on the topic. External Examiner may be at the rank of professor or Associate professor or a senior lecturer i.e (PhD holder in the discipline).To be in the panel of discussion with the students shall be academic staff of the department and college, student will be graded by individual panelists and the overall score or grade will be the average to adjust up-ward depending on the student' performance in responses question during discussion.

 

ECS 424-Economic Planning -3ch

Planning - What is it? Planning and externalities of the Nigeria factor, why planning and the rationale for planning, planning origins, planning machinery, planning process, planning decision modes, planning date, objective and policy formation, plan implementation- The Nigeria case. Human resources planning and cost prices planning.

 

ECS 425- Production Economics -3ch

Production economics is designed to equip the student in economics on the basic ideas on production operation in the industries. It deals with issues such as concepts of production, production system, facilities location and layout, product design, capital investment analysis, forecasting and capacity planning, quality control inventory control transportation model, network analysis and linear programming, stock valuation- FIFO, LIFO, etc Economic order quantity (EOQ), ROQ and Accounts of the manufacturer.

 

 

ECS 426-Advanced Mathematical Economics- 3ch

This course is to examine the application of mathematics in economic decision, Determinants, inverse matrix, simultaneous linear equation, linear programming for decision making, Maxima and Minima, Lagrange Multipliers- applications to economics for decision making.

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