Economics

course outline

Topics

• Classification of Economic Activities

  Primary, secondary, tertiary, and their relative contributions to output/income, employment, savings, and foreign exchange.

• Calculation of Measures of Dispersion

  Range, mean deviation, standard deviation, variance, coefficient of variation, quartiles, deciles, and percentiles.

• Production

  This module covers the purpose, types, factors, and determinants of production processes and systems.

• Factors of Production

  Land, labour, capital, and entrepreneur; including their features, roles, characteristics, rewards, and functions.

• Production Possibility Curve/Frontier

  This module explains the meaning, graphical illustration, and uses of the production possibility curve.

• Scale of Production

  This module examines different scales of production, their advantages, disadvantages, and related economic concepts.

• Types of Market

  Perfect market, monopoly, imperfect market (duopoly, oligopoly, imperfect competition, monopsony).

• Business Organization

  This module explores different types of business organizations, their aims, and financing mechanisms.

• Economic Development

  This module distinguishes economic development from growth and examines the characteristics and factors influencing it.

• Money

  This module defines money, explores its types, characteristics, functions, and related theories.

• Banking

  This module defines banking, traces its origin, and explains the functions and impact of commercial banks.

• Other Financial Institutions Besides Commercial and Central Banks

  Insurance companies, merchant banks, development banks, mortgage banks, stock exchange.

• Agricultural Sector in Nigeria

  This module defines agriculture, identifies its types, importance, problems, and marketing aspects in Nigeria.

• Industrialization in Nigeria

  This module covers the meaning of industrialization, types of industries, location factors, importance, strategies, and challenges in Nigeria.

• National Income

  This module defines key national income terms, outlines computation methods, discusses uses, influencing factors, and related economic concepts.

• Public Finance

  This module defines public finance, fiscal policy, government revenue and expenditure, and explores taxation concepts and problems.

• International Trade

  This module defines international trade, explains its basis, barriers, principles, and compares it with internal trade.

• Barriers to International Trade

  Tariffs, reasons and problems (differences in currencies, natural/artificial barriers).

• Balance of Payment

  This module defines key terms, explains components, analyses disequilibrium, and discusses associated problems.

• Economic Integration

  This module explains economic integration, its types, and the origin, benefits, and problems of ECOWAS membership.

• Nigerian Economic Plans

  This module defines economic plans, outlines the planning process, reasons, types, and analyses Nigerian development plans from pre-independence to the present.

• Nigerian Economic Plans from Pre-Independence to 1985

  Including pre-independence, post-independence, First (1962-1968), Second (1969-1974), Third (1974-1980), and Fourth (1981-1985) National Development Plans.

• Natural Resources

  This module examines the petroleum industry in Nigeria, its impact, the role of key organizations, and other natural resources.

• International Economic Organizations

  This module lists various international economic organizations, explains their origin, functions, benefits to Nigeria, associated problems, and future prospects.