Download (c) Curriculum for B.Sc. Degree in Economics 100 Level Harmattan

(c) Curriculum for B.Sc. Degree in Economics
100 Level
Harmattan Semester
Course Code
Course Title
MSS 101
Mathematics for
and Social Sciences I
Statistics for Management and Social Sciences I
Introduction to Economics I
Introduction to Accounting
Introduction to Business I
Introduction to Finance I
Use of English I
Introduction to Information and Communication Technology
Use of Library
TOTAL
MSS 103
ECO 101
ACC 101
BUS 101
BFN 101
GNS 101
CIT 111
LIB 101
Rain Semester
Course Code Course Title
MSS 102
MSS 104
ECO 102
ACC 102
BUS 102
BFN 102
GNS 102
CIT 112
Prerequisite
Management -
Prerequisite
Management -
Mathematics for
and Social Science II
Statistics for Management and
Social Sciences II
Introduction to Economics II
Introduction to Accounting II
Introduction to Business II
Introduction to Finance II
Use of English II
Introduction
to
Computer
Programming
TOTAL
Units
Status
3
C
3
C
3
3
3
2
2
2
C
C
C
R
R
1
22
Units
Status
3
C
-
3
C
-
3
3
3
2
2
2
C
C
C
C
C
C
21
233 200 Level Harmattan Semester
Course Code Course Title
MSS 201
ECO 201
ECO 203
ECO 205
Statistical
Methods
Applications I
Principles of Microeconomics I
Applied Economics I
Mathematics for Economists I
Prerequisite
and MSS 103
GNS 201
Nigerian Peoples and Culture
FRN 221
Basic French
Elective: Two of the following
ACC 201
Financial Accounting I
BUS 201
Principles of Management I
BFN 201
Principle of Finance I
GRM 203
Human Spatial Organization
GRM 205
Osun Region
POL 205
Introduction
to
Comparative
Politics
POL 207
International Political System
SOC 201
Principles of Sociology I
SOC 207
Sociology of the Family I
TOTAL
Rain Semester
Course Code Course Title
MSS 202
ECO 202
ECO 204
ECO 206
GNS 202
Osun Peoples and Culture
FRN 222
French for Specific Purposes
Elective: Two of the following
ACC 202
Financial Accounting II
BUS 202
Principles of Management II
BFN 202
Principles of Finance II
Status
3
C
ECO 101
MSS 101 or
102
-
3
3
3
C
C
C
2
2
R
R
ACC 101
BUS 101
BFN 101
-
3
3
3
2
2
3
E
E
E
E
E
E
-
Prerequisite
and MSS 104
Statistical
Methods
Applications II
Principles of Macroeconomics I
Applied Economics II
Mathematics for Economists II
Units
3
3
3
20/21/
22
E
E
E
Units
Status
3
C
ECO 102
MSS 101 or
102
-
3
3
3
C
C
C
2
2
C
C
ACC 102
BUS 102
BFN 102
3
3
3
E
E
E
234 GRM 204
GRM 206
POL 206
POL 208
SOC 202
SOC 208
Introduction to Soil Geography
Introduction
to
Population
Geography
Introduction
to
Public
Administration
Local Government in Nigeria
Principles of Sociology II
Sociology of Mass Communication
TOTAL
300 Level Harmattan Semester
Course code
Course Title
ECO 301
Microeconomic Theory I
ECO 303
Mathematical Analysis in
Economics
ECO 305
Statistical Analysis in Economics
ECO 307
Elements of Public Finance
ECO 309
Structure of the Nigerian
Economy
GNS 301
Entrepreneurial Skills
Development and Practice
Electives: Two of the following
ECO 311
Money and Banking
ECO 313
Managerial Economics
ECO 315
Political Economy
ECO 317
Labour Economics
ECO 319
Operation Research 1
-
3
3
E
E
-
3
E
-
3
3
3
22
E
E
E
Prerequisite
ECO 201
Units
3
C
ECO 205
3
C
MSS 201
-
3
3
2
C
C
C
-
2
R
MSS 101 or
102
2
2
2
2
2
E
E
E
E
E
TOTAL
300 Level Rain Semester
Course Code Course Title
ECO 302
ECO 304
ECO 306
ECO 308
ECO 310
GNS 302
Status
Prerequisite
Macroeconomic Theory I
ECO 202
Elements of Econometrics
MSS 103 or
104
Project Analysis and Evaluation
Theories
of
Growth
and Development
Research
Methodology
in Economics
Introduction to Man and Science
-
20
Units
3
3
Status
C
C
3
3
C
C
3
C
2
R
235 Electives: Two of the following
ECO 312
Elements of Financial Economics
ECO 314
Business Economics
ECO 316
Public Sector Economics
ECO 320
Labour Economics II
ECO 322
Operations Research II
MSS 103 or
104
TOTAL
400 Level Harmattan Semester
Course Code Course Title
ECO 401
ECO 403
ECO 405
2
2
2
2
3
E
E
E
E
E
21/22
Prerequisite
ECO 301
Project -
Microeconomic Theory II
Economics of Production
Elements
of
Public
Analysis
ECO 407
History of Economic Thoughts
ECO 499
Research Project
Electives: One of the following
ECO 409
Elements
of
Mathematical
Statistics
ECO 411
International Trade
ECO 413
Monetary Theory and Policy
ECO 415
Natural Resources Economics
ECO 417
Industrial Economics I
ECO 421
Labour and Industrial Relations
TOTAL
400 Level Rain Semester
Course Code Course Title
ECO 402
Macroeconomic Theory II
ECO 404
Fiscal Policy and Management
ECO 406
Economic Planning
ECO 408
Comparative Economic Systems
ECO 499
Research Project
Electives: One of the following
ECO 410
Econometric Methods
ECO 412
International Finance
ECO 414
Economics Public Policy Analysis
ECO 416
Economics of Developing and
Emerging Nations
ECO 418
Industrial Economics II
ECO 420
Problems
and
Policies
of
Units
Status
3
3
3
C
C
C
-
3
3
C
C
ECO 304
3
E
3
3
3
3
3
18
E
E
E
E
E
-
Prerequisite
ECO 302
-
Units
Status
3
3
3
3
3
C
C
C
C
C
ECO 304
-
3
3
3
3
E
E
E
E
-
3
3
E
E
236 Development
TOTAL
18
COURSES DESCRIPTION
ECO 101: Introduction of Economics I (3 UNITS)
The subject matter of Economics, Scarcity and Resource Allocation, Positive
Economics Versus Normative Economics, Micro-economics and Macroeconomics, the
Scientific Method in Economics, the Economic Person, Organization of the Market
Economy (goods, prices and Markets). Role of Economics sin Human Affairs, the
concept of the Production Possibilities Curve, Prices Quantities and Markets, Market,
Equilibrium and Disequilibrium, Supply & Demand Analysis, Elasticities, Demand and
Supply Curves.
ECO 102: Introduction to Economics II (3 UNITS)
Distinguishing Macro issues from Micro ones, Special features of Macroeconomics,
importance and Relevance of Macroeconomics, Expressing Economic ideas,
Functional Relationships, and Error terms, types of Economic data and presentation,
transactors in the macro economy (households, business firms, government and
foreign sectors), the circular flow of national income and output, national income
concepts, national income and accounting, consumption, investment and saving.
ECO 201: Principles of Microeconomics I (3 UNITS)
The nature of Economic Science, the
methodology of Economics, steps in
economics, Steps in economic theorizing, definition of model, theory of consumer
behavior, theory of demand supply, market equilibrium and disequilibrium,
elasticities of demand and supply curves, theory of production and costs, market
structures and behavior (perfect competition, monopolistic competition, monopoly
and oligopoly). Short-run and long run equilibrium analysis of firms.
ECO 202: Principles of Macroeconomics I (3 UNITS)
Nature and scope of Macroeconomics, further treatment of the Circular flow of
National income, aggregate supply and aggregate demand approach, the concepts
of multiplier and its implication, government fiscal action and income determination,
income determination in an open economy, consumption/saving theories, investment
theories, macroeconomic issues (inflation, unemployment and growth) and policies
(monetary policy, fiscal policy and trade policy).
ECO 204: Applied Economics II (3 UNITS)
The application of Macro-economic theories to the problems of developing countries
particularly as they relate to issues of poverty: income distribution, employment,
under-employment; balance of payments problems and commercial policy;
economics of aid and private foreign investment; global interdependence and
international of aid and private foreign investment; global interdependence and
international economic order.
ECO 205: Mathematics for Economists I (3 UNITS)
The nature of mathematical economics: Economic Models: Equilibrium. Analysis in
economics; linear models and matrices algebra; Comparative Statistics of the
237 concepts of derivatives statistics functional models: Experimental and logarithmic
functions optimization.
ECO 206: Mathematics for Economists II (3 UNITS)
Economic dynamics and integral calculus and its applications; First-order differential
equations and its application dynamics and stability of equilibrium and simultaneous
equation dynamic models; Linear Programming; Game Theory.
ECO 301 Microeconomic Theory I (3 UNITS)
Economic System and Organization: Demand and Supply; Individual Consumer
Behaviour; The Utility Approach; the indifference Curve Approach.
Market
Classification; the Theory of Production; The firm and pure monopolistic
Competition; Oligopoly; Pricing and Employment of Resources.
ECO 302: Macroeconomic Theory I (3 UNITS)
Introduction to Macro-economics; Measurement of economic Activity; Nigerian
National Accounts; National Income Models; Elements of international Trade;
Balance of payment Theory; Theory of Consumption Function; Theory of investment;
Money and interest; General Equilibrium of Money and Commodity Markets;
introduction to Macroeconomic Policy.
ECO 303: Mathematical Analysis in Economics (3 UNITS)
Treatment of the calculus of many variables; linear algebra, differential and
difference equations and their applications in economic theory; microeconomics
models of consumption and production; macro models of money and growth.
Functions and diagrams in economic theory; unconstrained and constrained extreme
(and, economic applications); linear and non-linear economic models or relations;
iterative processes, difference equations and markov chains; linear programming;
theory of games; general equilibrium theory and applications.
ECO 304: Elements of Econometrics (3 UNITS)
Definition and subject matter of econometrics, model types and their forms.
Parameter estimation of models, bivariate and multivariate, linear and non-linear.
Models, their variances, covariance and correlation coefficients between the variable.
Formulation of generalized linear regression models in independent variables and tjoint observation.
Assumption of multicollinerality heteroscedasticiity,
autocorrelation, Non-stationary and cointegreation – causes, consequences, tests
and correction in models. Predictive power and significant tests of models.
ECO 305: Statistical Analysis in Economics (3 UNITS)
Sample survey design: Data collection in Nigeria; Index Numbers. Time series
analysis; Tests of hypothesis; some parametric and non-parametric tests;
applications to economic hypotheses. Experimental design; analysis of variance,
analysis of covariance. Statistical quality control; essence of quality in industries;
types of variation in quality; control charts for variables; control of attributes,
Statistical decision; the structure and solution of single-stage decision problems.
ECO 306: Project Analysis and Evaluation (3 UNITS)
Definition and classification of projects and project evaluation; Cost and Benefit
Analysis; The project in relation to the economy as a whole; Data requirements;
Location and size of project; Calculation of investment required for a project,
evaluation of projects – financial/social profitability.
238 ECO 307: Elements of Public Finance (3 UNITS)
Definition, subject matter and methodology of public finance. The concept of the
public sector. Government budgeting and accounting federal finance, taxation.
Public debt and fiscal policy.
ECO 308: Theories of Growth and Development (3 UNITS)
Development as Growth, and the Linear-stages theories, Rostow,s stages of Growth,
the Harrod-Domar Growth Model, structural – change models; the Lewis Theory of
Development, Structural Change and Patterns of Development, the internationaldependence revolution. The Neocolonial Dependence Model, the false-Paradigm
Model, the Dualistic – Development thesis; the Neo Classical Counter revolution;
Free Markets, Public Choice and Market Friendly approaches, Traditional neoclassical
growth theory; and the New growth theory.
ECO 309: Structure of the Nigerian Economy (2 UNITS)
National income accounting – concepts, measurement, uses and limitations; Growth
of income, employment and prices in the economy as a whole in major sectors;
Structural changes between and within sectors; Relative sizes of public and private
sectors and their determinants. Public development institution, macroeconomic
development in Nigeria, trade, transport system. Economic development and social
change. Urbanization.
ECO 310: Research Methodology in Economics (3 UNITS)
Definition of research; the role of research in development; developments in
research methodology, essential features of research work, procedures and stages
involved in research proposal and report writing in economics. New developments in
research methods in social sciences. Uses of statistical and Econometric methods in
research.
ECO 311: Money and Banking (2 UNITS)
Definition and functions of money, commercial banking, non-banking financial
institution, credit creation and factors affecting it, the operational definitions of
money supply. Traditional and development functions of the Central Bank of Nigeria
(CBN), tools of monetary policy. Prospects for monetary policy.
ECO 312: Elements of Financial Economics (2 UNITS)
Overview of the Nigerian Financial System, the process and functions of financial
intermediation. Deposit-taking financial institutions and portfolio management.
International financial transactions and institutions (World Bank, IMF, ADB, ADF,
etc). Contemporary issue in financial regulations; notion of financial regulation, the
purposes of government regulation of financial markets, the role of the CBN and
NDIC.
Nature and causes of financial sector reforms, including arises, financial
innovations and globalization.
ECO 313: Managerial Economics (2 UNITS)
Managerial theories of the firm, Business enterprises and the nature of
management. Production and linear programming, Cost Analysis. Demand Analysis,
Pricing decision. Investment Decision.
ECO 314: Business Economics (2 UNITS)
Definition and scope of Business Economics; Decision making under risk and
uncertainty; Decision tree analysis; Demand estimation and forecasting; The
239 attribute approach to consumer choice; Alternative business objective; The internal
organization of firms; Portfolio matrices and corporate strategy. Pricing and pricing
policies; investment and Financing decisions; Demand Analysis; Business Risk and
Forecasting; International business; Multinational Corporations; Business enterprise
and Economic Development.
ECO 315: Political Economy (2 UNITS)
Nature and Scope of political economy, economic systems, capitalist system, central
planned economics system and the mixed economic system; capitalist development
and crisis, capitalist production and the structure of crises; the theories of crises,
monopoly capitalism, concentration and combination of capital; the state in political
economy, democracy, capitalist reforms and imperialism; methodology of Marxist
political economy, the labour theory of value, the theory of exploitation and the rate
of profit, the transformation problem and the marxist’s solution.
ECO 316: Public Sector Economics (2 UNITS)
Analysis of the roles of governments under various fiscal systems of free, mixed and
centrally planned economies; Taxation and public expenditure; Public debt; Public
financial institutions; Functional finance; Stability and growth; International financial
institutions.
ECO 317: Labour Economics I (2 UNITS)
Definition and scope; labour market in an Economy Labour Market theories; labour
supply and demand; concept of human capital; Human Resource Development;
wage theory, determination and economic welfare; trade unionism and collective
bargaining.
ECO 319: Operations Research I (2 UNITS)
Origin, Role and Methodology of Operations Research.
Linear Programming
Techniques: Graphical Method, Simplex Method, Shadow Price. Inventor and
Production Control: Carrying Inventories, Inventory Costs, Inventory Ordering
Systems. The fixed-order quantity inventory ordering system, The fixed-order
Interval System, ABC Inventory Analysis. Inventory Modeling: EOQ Model, The
Quantity discount Model, EDQO Model with Discounts.
Simulation Model:
Deterministic Simulation, Probabilistic Simulation. Replacement Theory Analysis:
Assets that fail gradually, Assets that fail suddenly. Single Stage Decision theory
Analysis.
ECO 320: Labour Economics II (2 UNITS)
Labour problem in less developed countries; Unemployment; The Nigerian Labour
Market; Labour Mobility and Migration; Labour market institutions; Collective
bargaining; Manpower policy; Manpower planning.
ECO 322: Operations Research II (3 UNITS)
Decision Making and Operational Research. Multi-Stage Decision Theory (Decision
Tree), Queue Theory, Games Theory. Markov Chains Analysis, Transportation Model,
Project Evaluation and Review Technique (PERT), Critical Path Analysis; Elements of
an activity on arrow network, Drawing the network, Analysis of activity on an arrow
network; isolating the critical path, Reducing the Project time, Resource Allocation.
240 ECO 401: Microeconomic Theory II (3 UNITS)
Theory of Consumer Behaviour; Stability of Market equilibrium; Theory of Production
and Cost; Theory of the firm and various forms of market organization; Theory of
distribution; General Equilibrium Theory and Welfare Economics.
ECO 402: Macroeconomic Theory II (3 UNITS)
Determination of output and employment under classical and Keynesian assumption;
Classical Keynesian controversies; More on the theory of investment, and
consumption; Theories of money, interest and inflation; Effectiveness of monetary
and fiscal policies to promote economic growth; introduction to the theory of
Macroeconomic policy.
ECO 403: Economics of Production (3 UNITS)
Product and process analysis, job design, work-force management; Production
planning and inventory, project management facilities planning and the management
of technology.
ECO 404: Fiscal Policy and Management (3 UNITS)
The growth and structure of public financed in Nigeria: Local, State and Federal
government finances and the financial relationships between local, state and federal
government in Nigeria; Use of fiscal policy for economic stabilization and its
effectiveness.
ECO 405: Elements of Public Project Analysis (3 UNITS)
Project analysis in the context of development economics and planning. Project
planning and the project cycle; economic and social profitability; cost-benefit
analysis (CBA) and cost-effectiveness Analysis (CEA). The general principles and
methodology of CBA. Practical issues in the application of CBA; Definition of project
and project life, enumeration and valuation of costs and benefits, treatment of
externalities and market imperfections, unemployment and distribution problems,
social time preference rate and the social opportunity cost rate, etc. socio-political
context of project appraisal; the integration of equity and efficiency criteria in public
investment decisions. The planning, programming and Budgeting System (PPBS);
uses and limitations in public decision making.
ECO 406: Economic Planning (3 UNITS)
The rationale for planning: Planning origins; Types and performances. Planning
machinery; The planning process. Planning decisions models; Planning data; Special
accounting framework; Objective and policy formulations; Resources projections and
consistency tests; Programme balancing; Plan implementation; Development
planning in Nigeria; Plan experiences in other countries.
ECO 407: History of Economic Thoughts (3 UNITS)
Economic thought from the earliest times to the mid-nineteenth century with special
references to the mercantilists, physiocrats. Adam Smith, J. B. Say. Ricardo,
Malthus, Sisnaondi, Friedrick LISt and John Stuart Mill; Mark Reinrick Marx. The
Historical School including Reseller Nies, Hiderl and Schmollory. The breakup of
labour theory of value; the Mathematical school including Rossen, Stanley Jevons.
Leon Walras and Bohm-Baerl Keynesian cost-Keynesian economic thought. Socialist
Economists – Karl Marx, Lennis Engel.
ECO 408: Comparative Economic Systems (3 UNITS)
241 ECO 409: Elements of Mathematics Statistics (3 UNITS)
Theory of probability, random variable and distribution functions, mathematical
expectation, the moment-generating function, some standard distributions (Binomial,
Poisson, Geometric, Uniform, Exponential, gamma and Normal distributions).
Sampling distributions, Estimation theory and tests of hypothesis.
ECO 410: Econometric Methods (3 UNITS)
Definition scope and division of econometrics, methodology of econometric research;
elements of matrix algebra; ordinary least squares approach to regression analysis.
Significant tests an confidence intervals for the estimates; time series analysis;
multiple regression analysis; errors in variables; auto-correlation; multicollinearity;
heteroskadasticity lagged variables; dummy variables; estimation of simultaneous
systems. New Developments in Econometrics.
ECO 411: International Trade (3 UNITS)
The overall view of the international economy; The theory of comparative
advantage; The gains from trade; Production function in international trade; The
Heckscher-Ohlin; Trade Model; The Leontief Paradox; The welfares effects of
international trade; Growth and development dynamic factors in international trade;
Growth and development theory of trade and policy.
ECO 412: International Finance (3 UNITS)
The balance of payments; The foreign exchange market; Adjustment in the balance
of payment; Automatic Mechanism; Other Adjustment Policies; International
monetary system and institutions; Elements of a new International Economic Order;
Current problems of trade policy; Custom Unions and regional economic integration.
ECO 413: Monetary Theory and Policy (3 UNITS)
The demand for money and supply. Definitions and determinants. Fundamental
theories of money; Classical, Keynesian and monetarist views. Quantity theory of
money, liquidity preference. Multiple deposit creation and monetary supply process.
Determinants
and
conduct of monetary and fiscal policies. Elements of HIcksiasn IS-LM model,
effectiveness and limitations of monetary and fiscal policies. Analysis of interest
rates, inflation and exchange rates.
ECO 414: Economics of Public Policy Analysis (3 UNITS)
Theoretical arguments for and against government intervention in the economy.
The concept, role and performance of Public Sector in the economy. Pricing
investment and public sector enterprises Analysis of Selected public policies.
Privatization and commercialization of public enterprises, economic liberalization and
deregulation. Economics of globalization; the bases, costs and benefits including
policy implications for developing nations.
ECO 415: Natural Resource Economics (3 UNITS) The economics of natural resources-availability, exploitation and use, pricing etc.
with particular reference to Nigeria’s resources. Some of the areas to be covered
include energy economics including petroleum economics, rural energy system.
242 Solid Minerals, Emphasis will also be given to the economics of depletable (nonrenewable) resources and their optimal depletion/pricing.
ECO 416: Economics of Developing and Emerging Nations (3 UNITS)
Defining and Characterizing the developing and emerging economies, the uneven
pattern of development, restraints on economic development, contemporary
development policies in the developing countries, communist countries and newly
industrial countries (NICS), Globalization of trade and investment by transactional
and the basic Washington consensus.
ECO 417: Industrial Economics I (3 UNITS)
Industrial structure and market conduct; Growth Diversification, innovation and
merger activity; Investment Decisions; Pricing and Marketing; Determinants and
Measures of Business Performance; Location of Industry; Theoretical basis for
government intervention in the industrial sector.
ECO 418: Industrial Economics II (3 UNITS)
The case for industrialization: the industrial environment of Nigeria; the growth and
structural changes in manufacturing industries; Market structure and conduct of
selected manufacturing industries. Private and public enterprises in industrial
development; the financing and ownership of industrial projects; Location of industry
and distribution of industries; Performance of the industrial sector; Government
intervention in the industrial sector.
ECO 420: Problems and Policies of Development (3 UNITS)
National endowment, population problems, human resource problems in Nigeria,
issues in underdevelopment of the agricultural sector, agricultural policy,
industrialization problems and policies. Unemployment and recent efforts towards
job creation, corruption and its manifestations in economic systems.
ECO 421: Labour and Industrial Relations (3 UNITS)
The concept of industrial relations. Trade Union Characteristics. Central Labour
Organizations and International Affiliations. Union Solidarity and check off system,
collective bargaining, industrial dispute and their settlement. The state and
industrial relations, Employers Associations, Joint Consultation and Workers’
participation. Union Wage policy.
ECO 499: Research Project (3 UNITS)
The objective is to train a student in the area of initiating and identifying
researchable topical issues and the ability to develop the ideas into to a good
feasible proposal. Students will be expected to demonstrate knowledge of relevant
literature and ability to present information in suitable economic team.
Topics,
which should be approved by the department, must be distinctly economic. The
essay should be about 10,000 words and must be presented in an approved manner.
243