University of Port Harcourt – Faculty of Social Sciences

Department of Economics

Name of Department: Department of Economics
Name of Ag.Head Of Deparment: Dr. M. O. Robinson

Contact E-mail:
Contact Phone Number(s): 08065999067

VISION

To be ranked among the best 5 Department of Economics in Africa, renowned for its products.

MISSION

To build a Department of Excellence for the training of world class Economists that will be highly competitive in the Global Economy

1.00 HISTORY OF THE DEPARTMENT

Economics at the University of Port Harcourt was one of the founding Disciplines in the school of social sciences which came into being at the inception of the university in 1977. Then students worked within a framework of an integrated interdisplinary programme which allowed them to specialize in one of the discipline (Economics, Geography, Political and Administrative Student and Sociology).

Within this framework, students in the school offered university – wide courses called general studies courses coded (GES) and faculty – wide courses in their first and second years of study. In the third and fourth years of study while students were still allowed to take a few elective courses outside their discipline, they now offered essentially courses in their disciplines.

This framework has a Director of Studies within the school system. While the Dean of the school had overall responsibility for the disciplines working in consultation with the directors of studies. In order to facilitate the smooth working of the school, the committee system was also adopted. In October 1982, the university resolved to adopt the faculty system. Accordingly, beginning with the 1983/1984, the faculty replaced the school system and the disciplines as academic unit in the school system become full-fledged departments with reasonable autonomy to prepare its budget, develop its curriculum and recruit academic staff. Each department is headed by a head of the department who is usually a senior academic and higher. The Dean remains the head of the faculty with overall responsibility for all the departments.

The department has since its inception 1977 been teaching economics and started awarding degrees in the subject from 1981 to date. It is also responsible for the teaching of the relevant economics course in the faculties of management sciences and education at the undergraduate levels. The department started in 1987, post graduate programmes leading to the award of M.Sc and Ph.D in economics with specialization in money, Banking and Development Studies. The first set of M.Sc. and PhD Students graduated in 1989 and 1994 respectively.

The department has expanded in its number of first year student from its humble beginning of 54 students per annum to an annual admission of over 100 students. At the moment, the student enrolment in the Department exceeds 400. There has been a steady growth in staff strength and diversity (see table 6 and 7).

The following academic staff have served as head in the chronology indicated at various times in the Department.

Professor M. Caban 1977 – 1981

Dr. Wrychriski 1982 – 1984

Professor R.S. Moro (Co-ordinator) 1984 – 1986

Professor R.S. Moro 1986 – 1988

Professor E.B. Akpakpan 1988 – 1991

Professor T.J. Agiobenebo 1991 – 1993

Professor W.J. Okowa 1993 – 1997

Professor A.N. Gbosi 1997 – 1999

Professor S. Tamuno 1999 – 2001

Professor R.S. Moro 2001 – 2003

Professor A.E. Cookey 2003 – 2005

Professor A.N. Gbosi 2005 – 2008

Professor L. Ohale 2008 – 2010

Professor O. Onuchuku 2010 – 2014

Professor G. I. Adoghor 2014 – 2015

Professor I. E. Kalu 2015 – 2017

Dr. G. Otto 2017 –

The Department started in the University temporary site (Choba Park) and has since 1982 moved to its faculty building at the University Park The Departmental (general and HOD) offices are located in the faculty. The Staff have offices in the faculty building and Choba Park.The new Faculty building now house most the offices, the econometrics laboratory and the library.

1.01 PHILOSOPHY OF THE DEPARTMENT

The philosophy of the Department is to ensure that our graduates have a broad training in economics and are well enlightened and self – reliant. Thus the graduates are impacted with the conceptual and analytical skills to decipher the salient features characterizing the intraciesand complexities of a dynamic world. The programme develops the students’ critical judgment, ability to observe, understand, analyze and synthesize data on socio-economic problem using social science concepts, methods and techniques which will enable them to make objective contribution as well contribute to the achievement of national objectives.

1.02 OBJECTIVES OF THE DEPARTMENT

The Department has the following objectives:

To develop and improve the student understands of the social and economic problems at the various stages of development of the Nigerian society.

To train highly informed and enlightened man-power for social and economic development and self-reliance

To contribute to a wide understanding of the working and problems of the Nigerian and world economies.

To provide appropriate environment that enables the students to raise their level of creativity and promote the spirit of self-reliance.

To contribute to the cumulative stock of socially relevant and useful knowledge; and

To stimulate a broad interest in the discipline and create a critical awareness among Nigerians of the causes of contemporary economic problems particularly those affecting their material well being and the options open to us as a people.

1.02b RATIONALE/JUSTIFICATION

The Department has elaborate programme in the undergraduate and postgraduate levels

Apart from teaching our undergraduate and post graduate students, Economics also teach students in Education, Management and other departments in Social Sciences.
Interest in terms of the number of candidates applying for admission into the Department is very high. The yearly carrying capacity of the Department is about 200 persons for undergraduate, 100 persons for post graduate diploma, 50 persons for Master, and 10 persons for Ph.D.
The Department has an Econometric Laboratory for teaching model estimations and simulations.
Some of our graduates are employed in the private and public sectors, thereby, contributing greatly to the national economy. Thus, the Department provides well equipped personnel on graduation for both the private and public sectors of the Nigeria Economy.
1.03 Academic Staff

S/N	NAME	QUALIFICATION	POSITION
1	Prof. W.J. Okowa	B.Sc Lagos Ph.D Uppsala	Professor
2	Prof. A.N.Gbosi	B.Sc New Hampshire M.Sc and Ph.D North Eastern	Professor
3	Prof. T.J. Agiobenebo	B.Sc Abu, M.Sc and Ph.D Pittsburgh	Professor
4	Prof. S.O Tamuno	B.Sc,MBA andPh.D, UPH	Professor
5	Prof. O. Onuchuku	B.Sc,M.Sc andPh.D, UPH	Professor
6	Prof. L. Ohale	B.Sc, M.Sc and Ph.D, UPH	Professor
7	Prof. A.E. Cookey	B.Ed, Benin, M.Sc andPh.D, UPH	Professor
8	Dr. I.E. Kalu	B.Sc,M.Sc andPh.D, UPH	Professor
9	Dr. M.O. Robinson	B.Sc, M.Sc Jos, and Ph.D Calabar	Senior Lecturer
10	Dr. G. Otto	B.Sc and M.Sc, UPH, Ph.D, Nigeria	Reader (Associate Professor)
11	Dr. C.A. Gbanador	B.Sc, M.Sc, and Ph.D, UPH	Senior Lecturer
12	Dr. (Mrs.) E. Okowa	B.Sc, M.Sc andPh.D, UPH	Senior Lecturer
13	Dr. P. Medee	B.Sc, M.Sc andPh.D, UPH	Senior Lecturer
14	Mr. U.H. Agbarakwe	B.Sc and M.Sc, UPH	Lecturer I
15	Dr. S. G. Nenbee	BED, IBADAN M.Sc and Ph.D UPH	Lecturer I
16	Dr. A. Nteegah	B.Sc, M.Sc andPh.D, UPH	Lecturer I
17	Dr. Sylvester Udeorah	B.Sc, M.Sc, Ph.D, UPH	Lecturer I
18	Dr. Chioma Chidinma B.George-Anokwuru	B.Sc IMSU M.Sc UPH	Lecturer II
19	Dr. Nkoro Emeka	B.Sc UNIBEN M.Sc UPH	Lecturer II
20	Bosco Itoro Ekpenyong	B.Sc, M.Sc, UPH	Lecturer II
21	Okorie Stanley	B.Sc, M.Sc, UPH	Lecturer II
22	Tubotamuno Boma	B.Sc, M.Sc, UPH	Lecturer II
23	James O’Neal Ebere	B.Sc,M.Sc, UPH	Research Fellow II
24	Vincent Owede Moses	B.Sc, M.Sc, UPH	Research Fellow II

Non-Teaching Staff

S/N	Name	Qualification	Position
1	Chigozie Okpara	B.Sc (Pol & Admin) UPH	Admin Officer
2	Okoro Obasi Ramatu C.	B.Sc (Public Admin) Madonna	Admin Asst.
3	Akor Ndidi Franklin	B.Sc (Sec Admin)RSUST	Personal Secretary III
4	Thisa Orluwene	WASCE	Senior Clerical Officer I
5	Woke, happiness	FSLC	Computer Operator
6	Ogbonna Gideon	FSLC	Caretaker
7	Grace W. Woke	FSLC	Caretaker

2.00 GENERAL UNIVERSITY GUIDELINES/POLICIES

Every student is advised in his or her own interest to read and understand these guidelines.

2.01 THE COURSE SYSTEM

The course system has a number of implications. They include:

A course is made up of separate lecturers and seminars over the specified time period.

Courses required for graduation must be registered for and passed.

The student may not necessarily graduate after years.

Course failed are usually carried over into the next semester or academic year as the case may be.

A student must obtain a stipulated CGPA (Cumulative Grade Point Average) to qualify for graduation. How the CGPA is calculated is show below:

For the purpose of teaching and examination, the Academic year is divided into two semesters, each of approximately sixteen weeks.

Instructions shall be by courses. The unit for a course is the credit unit. One credit unit is when a class meets for one hour every week for one semester in a lecture or tutorial.

The normal course/load for a full-time student is 15-24 credit units per semester. No student is permitted to register for less than 15 or more than 24 credit units in any semester. Part time students must register for not less than 12 and not more than 16 credit in any term.

Students must not exceed the maximum number of 24 credit units for one semester when they are re-registering failed courses. Any course which would cause the maximum to be exceeded must be deferred to the following year.

There are prerequisite and concurrent requirements for courses, but these may be waived at the discretion of the faculty upon recommendation by the Department offering the course.

Every course shall be continuously assessed and examined at the end of the semester in which it is given. Re-sit examinations have no place in the course credit system and are not permitted.

Student credit system are not permitted

Students must pass every course, which their Department programme requires them to pass. Any failed course must be re-registered in a subsequent academic year and passed before the student is eligible to graduate.

Student will graduate on the programme which was in effect in their first of study.

Grade points earned at all attempts of a particular course counts towards the CGPA. Students are not allowed to repeat a course which they have already passed.

2.02 ACADEMIC ADVISERS

Students at the time of their admission are assigned to academic advisers. The advisers guide the students by advising on course offerings. The advisers often makeextensive use of the students’ Handbook which is the courses book and compass guide for the students during their study period in the Department. There is strong emphasis on academic advising since this would help the students and leadto good performance and good image for the Department. The Head of Department frequently (at least twice a semester) meets with the students at all levels to discuss areas of student interest, laying emphasis on the need for academic excellence and good moral behavior always. The students have an association “Nigerian Economics Students Association (NESA)” which is recognized by the Department and members of staff serve as patron and advisers tothis association. Staff also attend various functions of the students and encourage them both financially and morally. During the students’ week, academic staff takes time to interact with the students often delivering speeches and talks on issues of career choice and job opportunities.

2.03 REGISTRATION

University Registration for Fresh Students: The initial stages of registration for incoming first year students are normally conducted by the examinations and Records Unit of the Registry Department. The unit is located in the Administration Block at University Park. Registration goes through stages here and directives are normally circulated to specify what is to be done at each stage. However, since the 1993/1994 academic year, registration has been decentralized and now carried out by the respective faculties. Most recently, it is done in the open by a combined team of the Academic Office, MIS unit and the respective faculties.

2.04 REGISTRATION OF COURSES

Course registration is the responsibility of the student’s parent Department. The Head of Department signs for all the courses registered. The period for normal registration is the first week of each academic year, excluding the orientation week. The period for late registration is the second week of the academic year.

In registering students, the parent Department ensures that students re-registered all previously failed courses in which the programme requiresa pass, and meet the prescribed requirements for each should not be less than 15 or more than 24 per semester in the case of regular students, and not less than 12 and not more than 16 per term in the case of part-time students.

Any registration completed after the time specified will be null and void and will not be credited to the student, even when he/she has taken and passed the examinations in courses for which they had not previously registered. Such actions are fraudulent and culprits will be appropriately disciplined.

Any genuine request for late registration must be made in writing to the Head of Department and a later registration fee, which amount is reviewed each year in line with inflation, must be paid to the Bursary. Forms for the registration will be given out only when there is evidence of such payment. A list of student registered for each course will be kept. This will be displayed for one week immediately after the close of registration, for necessary corrections.

The parent faculty and the parent Department will each retain one copy of this list and forward copies to the Teaching faculty to be distributed as follows: one to the Faculty, one to the Department and one to the Course Lecturer. This list becomes the authentic register for the course examination.

For first year students, the following forms are returned to the Academic Officer: bio-data (MIS form), completed (Course registration MIS form 2) and the fees (MIS form 4).

Students are encouraged to join their professional associations and pay the dues for such associations, however, this will not be tied to the registration process.

Application for adding or dropping of course must be made on the prescribed Add/Drop form and Certified by the Registrar after obtaining the approval of the Head of Department concerned, not later than four weeks before the examination in each semester. Any change of course made by altering the registration form will be null or void.

2.05 AUDITING OF COURSE

Students may attend a course outside the prescribed courses for their programme. The course shall be recorded in their transcript only if they have registered for it with the approval of the Head of Department and the Dean of the Faculty, and taken the prescribed examination. An audited course shall not be used in calculating the CGPA.

3.00 CHANGE OF DEGREE PROGRAMME

A student whohad been admitted to a degree programme on satisfying the minimum requirements for the faculty and Department, shall not normally be allowed to change until he/she has completed the first academic year in the programme.

A student awarded a scholarship in a discipline different from that for what he/she is admitted shall be allowed to change Faculty or Department to that in which the programme specified by the Scholarship Award isavailable, provided that he/she meets the requirements of the Faculty or Department to which a change is desired.

Application to change Faculty shall normally be made by the student concerned on a prescribed form which can be obtained from the Admissions Officer through Head of the Present Department who recommends to the Faculty Board. The form must be submitted in triplicate. Duly completed copies of the Change of Programme Form shall be forwarded to the committee of Deans for approval and to the Registrar for certification.

Thereafter, the Registrar shall retain a copy and forward a copy each to the two Heads, the respective Deans and the student concerned. Intra-Faculty is usually done by the Faculty Board and the Committee of Deans informed.

To qualify for consideration to transfer to the professional programmes in Medicine, Engineering and Management Sciences, a student shall be required to obtain a CGPA of 4 points and above at the time of application.

3.01 INTER-UNIVERSITY TRANSFER

A student from another University may seek transfer to any of the programmes in the Faculty of Social Sciences, provided that his/her CGPA is not less than 3.0. Such applicants mustapply in the appropriate application form enclosing relevant credentials and transcript of academic record to the Registrar who shall refer it to the appropriate Head of Department. The Head of Department is in turn requiredto forward same to the Committee of Deans, which has a final decision. All applicants for inter-University transfer shall be of good standing in their previous universities.

3.02 DEFERMENT OF ADMISSION

A candidate who is offered admission and is qualified atthe time, but is unable to take up the offer at the required time may have the admission deferred. Note that the only way the University can certify that the candidate is qualified is for the candidate to go through the registration exercise before applying for deferment. In all cases, requests for deferment must be made in writing, stating the reasons and forwarded through the Head of Department for which admission was offered, to the Dean.

4.00 ACCOMMODATION

There are students’ hostels located in the three campuses of the University: Choba, Delta andthe University Park. The hostels at Delta Park, Dan Etete and Block a of Clause AkeHall all at the University Park i.eAbuja are for female undergraduates while those at Choba Park and others at University Park are for male undergraduates. There is accommodation for Post-graduate and clinical students in the University Park also.

Allocation of spaces in the halls of residence to students is the direct responsibility of the Students’ Affairs Department, which is located at Choba Park. Hostel allocation is guided by the Students’ Affairs own guidelines. Normally, first and final year students are accommodated in the hostels while students in the other years of study may be accommodated based on availability of bed spacesand other specialcircumstances. In any case, handicapped students and sports students who engage in sports and representthe University in sporting outings, may be considered first before students in the other years of study.

As a rule, squatting is prohibited and an allottee may lose his/her bed space if found guilty of squatting any student. Off-campus accommodations are available within the vicinity of the University. This can be gotten through private agreement between the student and thelandlord.

5.00 LECTURES

Attendance at lectures is mandatory and every course shall be continuously assessed and examined at the end of the semester in which it is given.

5.01 TIME TABLE

A time table for lectures is provided by the University Time Table committee and is adhered to for minimal clashes. However, students are requested to report any clashes to the Head of Department.

5.02 CONTINUATION, PROBATION AND WITHDRAWAL

Continuation Requirement: The continuation requirement in the university is CGPA of 1.00 at the end of every academic year.

Probation: Probation is a status granted to a student whose academic performance falls below an acceptable standard. A student whose Cumulative Grade Point Average is below 1.00 at the end of a particular year of study earns a period of probation for one academic session.

However, students on probation may not register for more than 18 units per semester. The purpose of the restriction is to give the students charge to concentrate on improving their performance and thus raising their CGPA.

Warning of Danger of Probation: Students should be warned by their Department if at the end of any semester their CGPA falls below 1.00.

Repeating Failed Course Units(s): Subject to the conditions for withdrawal and probation, a student must repeat any failed course at the next available opportunity, provided the total number of credit units carried during that semester does not exceed 24. (for Regular students and 16 for Part Time students), and the grade Point earned at all attempts shall count towards the CGPA.

Temporary withdrawal from study: A student may apply for temporary withdrawal from study for a period of one year, which may be renewed up to maximum of two (2) years.

Withdrawal: A student whose Cumulative Grade Point Average is below 1.00 at the end of one year’s probation shall be required to withdraw from the programme.

Duration of Degree Programme: A student who after the maximum length of time allowed for a degree programme, has not obtained a degree shall be asked to withdraw from the programme. The maximum length of time that a student shall be permitted to spend on a standard 4 year program shall be six (6) years, and on 5 year programme shall be seven (7) years. This regulation does not apply to the MBBS programme, which has its own requirements.For part time programme, the appropriate ratio should apply.

6.00 GENERAL REQUIREMENT FOR A DEGREE (B.SC)

To obtain a degree in the University of Port Harcourt, a student must complete the approved programme of study in his/her Department. Every student is urged to familiarize himself/herself with the specific requirements for a Bachelor’s degree in his/her Department.

Year I: General Studies Courses; Foundation Courses; and

Major Courses.

Year II: Foundation Courses;Major Courses;

Community Services; andElectives.

Year III: Major Courses and Electives

Year IV: Major Courses; Seminar Courses; and Project

6.01 EXAMINATION REGULATIONS

By section 6(2) (b) of the University of Port Harcourt Decree(1979) (vi), it shall, in particular, be the function of the senate to make provision for “the organization and control of courses of study at the University and of the examinations held in conjunction with those courses, including the appointment of examiners, both internal and external” (where necessary).

Section 6(5) stipulates: “Regulations shall provide that at least one of the persons appointed as the examiners at each final or professional examination held in conjunction with any course of study at the University is not a teacher at University but is a teacher of the branch of learning to which the course relates at some other University of high repute.

Pursuant to the foregoing section 6 (2) (b) and (5), Senate hereby provides the following examination regulations.

6.02 COURSE EXAMINATIONS

Every course of instruction shall be continuously assessed, and examined at the end of the semester in which it is given.

A range of 30% of 60% should be adopted for continuous assessment weighting by the University in view of the work input expected from students in the various programmes of study.

Subject only to administrative supervision by the Dean’s Office the conduct of course examinations shall be the responsibility of the Head of Department.Note that presently in the Department, undergraduate continuous assessment is 30%and of semester examination is 70%. The same applies to the post graduate Diploma programme. However, for the masters and Ph.D programme. However, for the Masters and Ph.D programmes the ratio is 40% for continuous assessment and 60% for semester examination.

6.03 CONDUCT OF EXAMINATION

Questions are set by academic staff teaching the respective courses and moderated by members of the Departmental Board of studies. Academic staffs are appointed as invigilators for the examinations. A facultyexamination time table is usually drawn by the faculty in consultation with the University time table representative. The Department examination time table is prepared using the University and Faculty time tables. The courselecturers are the chief invigilators in their course and are assisted by other lecturers as invigilators.

Absence from examination due to ill health should be supported with a medical certificate and reported to the Head of Department on time. The Head of Department shall forward such certificate to the Director of Medical Services forauthentication.

6.04 EXAMINATION MALPRACTICE

The penalty for any form of examination malpractice is EXPULSION. It may even lead to refusal of admission to other Nigerian universities. Any student found guilty of forging Certificates, transcripts and other admission documents shall expelled from the University.

6.05 SCORING AND GRADING SYSTEMS, AND CLASSIFICATION OF DEGREES

The University operates a 5 – point grading system. The following table provided in the NUC Approved minimum Standard in Social Sciences for all Nigerian universities applicable.

(i) Credit Unit	(ii) Scores	(iii) Letter Grade	(iv) GP	(v) GPA	(vi) CGPA	(vii) Class of Degree
Vary According to contact hour Assigned to each course Per semester and According to work load carried by the student	70 – 100	A	5	Derived by multiplying (i) by (vi)	4.50 – 5.00	1^st Class
	60 – 69	B	4		3.50 – 4.49	2^nd Class Upper
	50 – 59	C	3		2.40 – 3.49	2^nd Class Lower
	45 – 49	D	2		1.50 – 1.40	3^rd Class
	40 – 44	E	1		1.00 – 1.49	Pass
	0 – 39	F	0		0 – 0.99	Fail

COMPUTATION OF GRADING POINT AVERAGE

7.01 Every course carriers a fix number of Credit Unit (CU), one Credit Unit being when a class meets for one hour every week for one semester, or three hours every week in laboratory, workshop or field.

7.02 Quality Points (QP) are derived by multiplying the Credit Units for the course by the Grade Points earned by the student. For example, in a course with 3 Credit Unitin which a student earned a B with 4 grade Points, the Quality point is 3 x 4 = 12.

7.03 Grade Point Average (GPA) is derived by dividing the Quality Point (TQP) to date and dividing by the Total Credit Units (TCU) to date, e.g. if the TQP is 228 and the TCU is 68, then the CGPA is 228 68 = 3.35

7.05 DETAILED EXAMPLE OF HOW TO CALCULATE GPA AND CGPA

FIRST YEAR, SEMESTER ONE

Course	Credit Unit	Letter Grade	Grade Points	Quality Points	Grade Point Average (GPA)	Cumulative Grade Point Average (CGPA)
APC 100	3	B	4	12	QP = 66 CU = 17 GPA = 66 ÷ 17 = 3.88	TQP = 66 TCU = 17 CGPA = 66 ÷ 17 = 3.88
APC 101	2	C	3	6
APC 102	1	C	3	3
APC 103	4	B	4	16
APC 104	5	A	5	25
APC 105	2	D	2	4
Total	17			66

FIRST YEAR, SEMESTER TWO

Course	Credit Unit	Letter Grade	Grade Points	Quality Points	Grade Point Average (GPA)	Cumulative Grade Point Average (CGPA)
APC 106	5	B	1	5	QP = 48 CU = 20 GPA = 48 ÷ 20 = 2.40	TQP = 114 TCU = 37 CGPA = 114 ÷ 37 = 3.08
APC 107	4	D	2	8
APC 108	5	B	4	20
APC 109	3	F	0	0
APC 110	3	A	5	15
Total	20			48

SECOND YEAR, SEMESTER ONE

Course	Credit Unit	Letter Grade	Grade Points	Quality Points	Grade Point Average (GPA)	Cumulative Grade Point Average (CGPA)
APC 210	2	E	1	2	QP = 61 CU = 18 GPA = 61 ÷ 18 = 3.38	TQP = 175 TCU = 55 CGPA = 175 ÷ 55 = 3.18
APC 211	3	C	3	9
APC 212	5	B	4	20
APC 213	5	C	3	15
APC 214	3	A	5	15
Total	18			61

SECOND YEAR, SEMESTER TWO

Course	Credit Unit	Letter Grade	Grade Points	Quality Points	Grade Point Average (GPA)	Cumulative Grade Point Average (CGPA)
APC 215	3	B	4	12	QP = 59 CU = 20 GPA = 59 ÷ 20 = 2.95	TQP = 234 TCU = 75 CGPA = 234 ÷ 75 = 3.12
APC 216	4	C	3	12
APC 217	5	B	4	20
APC 218	2	F	0	0
APC 219	3	C	3	9
APC 109	3	D	2	6
Total	20			59

Observe how the course APC was failed in Year I Semester 2 and computed with F = 0 in Year I. It was then registered and computed with D = 2 in year II, Semester 2. The old grade is not replaced with the new one.

THIRD YEAR, SEMESTER ONE

Course	Credit Unit	Letter Grade	Grade Points	Quality Points	Grade Point Average (GPA)	Cumulative Grade Point Average (CGPA)
APC 300	3	B	4	12	QP = 51 CU = 17 GPA = 51 ÷ 17 = 3.00	TQP = 285 TCU = 92 CGPA = 285 ÷ 92 = 3.10
APC 301	3	C	3	9
APC 302	3	F	0	0
APC 303	4	B	4	16
APC 304	2	A	5	10
APC 305	2	D	2	4
Total	17			51

THIRD YEAR, SEMESTER TWO

Course	Credit Unit	Letter Grade	Grade Points	Quality Points	Grade Point Average (GPA)	Cumulative Grade Point Average (CGPA)
APC 310	3	D	2	6	QP = 55 CU = 21 GPA = 55 ÷ 21 = 2.62	TQP = 340 TCU = 113 CGPA = 340 ÷ 113 = 3.10
APC 311	3	C	3	9
APC 312	3	E	1	3
APC 313	4	B	4	16
APC 314	3	A	5	15
APC 315	3	F	0	0
APC 218	2	C	3	6
Total	21

FOURTH YEAR, SEMESTER ONE

Course	Credit Unit	Letter Grade	Grade Points	Quality Points	Grade Point Average (GPA)	Cumulative Grade Point Average (CGPA)
APC 400	3	A	5	15	QP = 63 CU = 20 GPA = 63 ÷ 20 = 3.15	TQP = 403 TCU = 133 CGPA = 403 ÷ 133 = 3.03
APC 401	3	C	3	9
APC 402	3	B	4	12
APC 403	4	C	3	12
APC 404	2	E	1	2
APC 405	2	D	2	4
APC 302	3	C	3	9
Total	20			63

FOURTH YEAR, SEMESTER TWO

Course	Credit Unit	Letter Grade	Grade Points	Quality Points	Grade Point Average (GPA)	Cumulative Grade Point Average (CGPA)
APC 400	3	B	4	12	QP = 88 CU = 25 GPA = 88 ÷ 25 = 3.52	TQP = 491 TCU = 158 CGPA = 491 ÷ 158 = 3.12 2^nd Class Lower
APC 411	3	D	2	6
APC 412	3	C	3	9
APC 413	4	B	4	16
APC 414	3	A	5	15
APC 415	6	B	4	24
APC 315	3	D	2	6
Total	25			88

7.06 Grades obtained in all approved courses of a student’s prescribed programme, excluding audited courses, shall be used to compute the GPA.

7.07 Where a student was registered for a course but the result is unavailable due to no fault of the student, no result will be recorded for that course and the student will re-register for it in next academic year. The second registration will be treated as first attempt, provided the student formally notified his/her Department.

7.08 Where a student transfers from one Faculty to another, only the grades obtained in the courses in the new prescribed programme of the study will be used to compute the CGPA. Courses which are not part of the new prescribed programme, will be treated as audited courses.

7.09 Procedure for the Review of Scripts of Aggrieved Student

Academic grievances are treated on their merit. The Department runs an open door policy in addressing all manner of student’s problems and this has largely made our Department peaceful. The most common is examination results. The students lodge complaints and grievances they may have concerning their examination results by writing to the HOD who processes the letter which is then forwarded to the specific course lecturer. If the problem is with another Department, the letter is routed through the lecturer’s HOD. In this way, both the lecturer involved in the teaching and examination of the course and the HOD are aware of the emerging issues. Other academic grievances which could be internal (within the Department) are usually handled by the respective lecturers with the assistanceof HOD and the academic advisers. The students academic records have been computerized. This has enhanced expeditious handling of grievances and request for transcripts. The paper work is still maintained in file folders.

8.00 AVAILABLE ECONOMICS PROGRAMMES

8.01 A: Undergraduate (Regular and Part Time):

The current undergraduate programme (Regular and Part Time) have undergone several revisions. In their current forms, courses with practical applications have been increased in response to the growing needs for self-employment in a country where graduate unemployment has become the norm.

Undergraduate Programme

Course Outline

YEAR 1 FIRST SEMESTER UNITS

ECO 101.1 Introductory Mathematics for Economist I 3

ECO 102.1 Principles of Economist I 3

GES 100.1 Communication Skills in English 4

SOC 102.1 Social System 3

GES 104.1 History of Philosophy of Science 2

MGT 150.1 Principles of Management 3

GES 101.1 Computer Appreciation 3

YEAR I SECOND SEMESTER UNITS

ECO 101.2Introductory Mathematics for Economist II 3

ECO 102.2 Principles of Economist II 3

GES 102.2 Introduction to Logic and Philosophy 2

GES 103.2 Nigerian Peoples and Culture 2

GEM 102.1 The Human Environment 3

POL 102.2 Political Analysis 2

YEAR II FIRST SEMESTER UNITS

ECO 201.1 Introduction to Microeconomics 3

ECO 202.1 Structure of Nigerian Economy 3

ECO 203.1 History of Economic Thought 3

ECO 204.1 Introductory Statistics 3

ACT 201.1 Introduction to Accounting 3

CSC 280.1 Introduction to Computer 3

PSC 201.1 Community Service 1

YEAR II SECOND SEMESTER UNITS

ECO 201.2 Introductory Macroeconomics 3

ECO 202.2 Political Economy of Development 3

ECO 203.2 Economic History 3

ECO 204.2 Statistical Methods and Sources 3

ECO 205.1 Mathematical Methods for Economist 3

FIN 232.2 Principles of Finance 3

Free Elective for students who are able to take additional courses

(Choose any one)

ECO 207.2 Agricultural Economics 3

YEAR III FIRST SEMESTER UNITS

ECO 301.1 Intermediate Micro-economics 3

ECO 302.1 Applied Statistics 3

ECO 303.1 Public Sector Economics 3

ECO 304.1 Introductory Econometrics 3

ECO 305.1 International Economics 3

ECO 306.1 Human Resource Economics 3

* ECO 307.1 Mathematical Economics 3

YEAR III SECOND SEMESTER UNITS

ECO 301.2 Intermediate Macro-economics 3

ECO 302.2 Research Methods in Economics 3

ECO 303.2 Monetary Economics 3

ECO 304.2 Environmental Economics 3

CSC 282.2 Application of Computer 3

ECO 305.2 Development Economics 3

* GES 300.2 Fundamentals of Entrepreneurship 2

Elective: Any one of the following

ECO 307.2 Labour Economics

ECO 308.2 Economics of Petroleum & Energy 3

YEAR IV FIRST SEMESTER UNITS

ECO 401.1Advanced Micro-economics 3

ECO 402.1 Project Evaluation 3

ECO 403.1 Economic Planning 3

ECO 404.1 Industrial Economics 3

ECO 406.1 Econometrics 3

ECO 408.1 Advanced Mathematical Economics 3

* GES 400.1Entrepreneurship Development 2

Free Elective: ECO 407.1 Regional Development &

Economic Integration 3

YEAR IV SECOND SEMESTER UNITS

ECO 401.2 Advanced Macro-economics 3

ECO 402.2 Comparative Economics System 3

ECO 403.2 Problems and Policies of Development 3

ECO 404.2 Theory and Practice of Economic Policy 3

ECO 405.2 Research Project 6

Free Elective: for students who are able to take additional courses

CHOSEN ELECTIVES TO BE APPROVED BY STUDENTS

ACADEMIC ADVISER

COURSE DESCRIPTION

ECO 101.1 INTRODUCTORY MATHEMATICS FOR ECONOMISTS I

The course seeks to acquaint and equip the student with the basic mathematical skills required economic analysis. It covers algebraic expression, factorization, indice and logarithms, radicals or surds, permutation and combination, equations (liner, quadratic and simultaneous equations) inequalities, set theory, sequences and series and matrix algebra.

ECO 102.1 PRINCIPLES OF ECONOMICS I

Principles of economics 1 deals with basic tools of microeconomics. It is overview of the subject matter of economics as well as the central idea, principles of economic analysis and the relevance of policy question. It covers such topics as meaning and evolution of economics, schools of thought in economics, methodology of economic, economic system, price system, price system, theory of demand and supply, elasticity of demand and supply, theory of consumer behavior, theory of production, theory of cost and revenue, and market structure.

MGT 150.1 PRINCIPLES OF MANAGEMENT

The intention of the course is to demonstrate the principles underlying management behaviours and decision making.

ECO 101.2 INTRODUCTORY MATHEMATICS FOR ECONOMIST II

The course is designed to provide beginning students with the knowledge ofcalculus for application in economics. The contacts include limits and continuity, derivatives and rules of differentiation, partial and total differentiation, higher order derivative and the concept of maxima and minima, integration; rules of substitution as well as definite integral.

ECO 102.2 PRINCIPLES OF ECONOMICS II

This is designed as a second semester course to expose and provi8de first year students with basic principles of macroeconomics. It is intended to help students understand the functioning of the economy. The course covers nature and scope of macroeconomics, the concept of circular flow of income and expenditure, national income accounting, equilibrium national income, money and financial institution inflation, unemployment, balance of payments, the concept of economic growth and development, conceptual definition of fiscal and monetary policies.

ECO 201.1 INTRODUCTION TO MICRO-ECONOMICS

The course is designed to provide the beginning students the knowledge of elementary yet sophisticated micro economics codes that describe the theories, principles and concepts of resources allocation, the coordination functions and performed by the market mechanism regulated by the price system and the consequences of choice decisions. It builds on marginalist microeconomic models as a basis for understanding producer and consumer behavior with particular institutional setting. Special consideration is given to market breakdown and failures and public policy debate.

ECO 202.1 STRUCTURE OF THE NIGERIAN ECONOMY

A profile of the Nigerian economy, some geographical facts and the people resources, distribution and regional specialization, specialization of economic activity, agricultural sector, mineral sector, industrial sector, electricity and water, building and construction, transport and communication, reign sector, public sector as well as development plans.

ECO 203.1 HISTORY OF ECONOMIC THOUGHT

This course seeks to put into proper perspective the career debates, conflicting opinions and arguments as put forward by various economists and draws attention to the apparent lack of conclusion. Students through this course are led to realize and appreciate the way economic and economics science like other disciplines grow, expand and undergo changes. The opinions and arguments of economists such as Adam Smith, David Richardo, Alfred Marshall, John Keynes, etc, will be exposed to the student.

ECO 204.2 STATISTICAL METHODS AND SOURCES

The course seeks to acquaint the students with basic theories, principles, concepts and tools of descriptive and inductive statistics. Special attention is also paid to sources and nature of published statistical data in Nigeria, their uses and limitations. It seeks to enable students know how to use and interpret statistical data on which broad economic and business decisions are based. Specifically the following selected topic is covered among others.

ECO 205.2MATHEMATICAL METHODS FOR ECONOMICS

Economic models the real number systems the concept of sets relations and functions, types of function. The course specifically deals with equilibrium analysis in economics, meaning of equilibrium partial markets equilibrium, general markets equilibrium and national income analysis, linear models and matrix algebra.

Optimization Problems
Relative maximum and minimum constrained optimization.
Mathematical Programming
Linear programming, graphic methods, simple methods, Dual economics interpretations of dual.
Non-Mathematical Programming
The nature of non-linear programming: Kuhn Tuker condition application, game theory, introduction to input output analysis.

ECO 201.2 INTRODUCTORY MACROECONOMICS

The structure and scope of this takes full cognizance of the mixed audience in which it is addressed consisting of beginning specialists in economics and pre-professional students in education and management science who will take perhaps only one course in micro-economics. The purpose of this course is to encourage students grapple with economic, social and political problems, while utilizing their growing knowledge of economic tools and techniques to understand socio-economic issues. The course will also try to consistently relate these basic principles to real world problems while also using uncomplicated language and techniques to simplify and demystify our study of economics. Many conflicting and controversial ideas and subjects would be introduced to stimulate thought and encourage critical thinking.

COURSE CONTENT

Introduction to macroeconomics, issue and problems. Macroeconomic tool measuring GNP; is in model.

The classical Keynesian model and great depression, the classical system; the flows in the classical system, the great depression, the enter keynestage… money left, Keynes to the rescue.

Keynes in words and pictures, aggregate demand and aggregate supply consumption.

Fiscal policy, government spending and taxation problem with fiscal policy. The public department.

The supply side, economics of voudou, economics and snake peddlers, supply side economics, policy, the rationale, the latter curve, cutting taxes and raising government revenue on cutting one’s cake and have it too, supply policy and SAP bebanomics and the supply side, the TRICLE down failure, labour market and manpower needs.

The role of money and financial intermediaries, the use of money, money creation, Helicopter money, demand and supply for money, the function of money and the Keynesian system monetary policy tools of the trade, the effectiveness of monetary policy, policy tools of the trade, the effectiveness of monetary policy, critique of monetorium, monetary and fiscal policy.

Unemployment, inflation and stability, inflation, unemployment and productivity, solution the post poast Keynesians.

International trade and protectionism. The modern theory of international trade, classical liberalism and free trade restriction to free trade, economic problems of developing countries, development and underdevelopment; what is the difference.

ECO 202.2POLITICAL ECONOMY OF DEVELOPMENT

Economic Development has been a major preoccupation especially in the Developing Countries since the end of the Second World War. Theorists and practitioners have sought ways of fast tracking development in less developed countries.

To achieve this objective requires, a proper understanding of the phenomenon, its driving principles, challenges and how to mitigate the challenges. But development is a multi dimensional phenomenon and so requires a methodology that can cover its multidimensional nature. Political economy as a methodology provides a good framework in the study of Development. But political economy itself has been dynamic in meaning and character. This course attempts to comprehensively appraise the development challenge. The specific outline is as follows:

Overview

History and meaning of political economy

Mainstream views

Marxian view

What is Development

Mainstream views

Radical views

Characteristics of developing areas

Theories of development and underdevelopment

Strategies of Development

Import substitution strategy

Trade as an engine for growth

Agriculture and economic development

Development planning

ECO 203.2 ECONOMIC HISTORY

The course will be presented as an outline of the histories of industrialization and as attempted industrialization in some of the world notably in England, France, Germany, USA, USSR before breaking, the people’s Republic of China and Nigeria and Tanzania representing the African experience. The key problem is defined as that concerning the nature of production and types of capital accumulation associated with various forms of production.

FIN 232.2 PRINCIPLES OF FINANCE

This is an introductory course in corporate management. The aim is an appreciation of the rule of the finance function in an organization and to analyze the effects of finance and related matters on the co-variables output prices, profit cost and growth of organization. Topics include the nature, scope and evolution of finance study, corporate goals and the role of finance, review of business forms, interests, rates, taxes, depreciations, inflation and their implication and valuation models for and shares; the concept of risk and return, analysis of financial statements, financial profit planning, management of working capital budgeting, target capital structure, the cost of capital; dividend policy, financial and operating leverage rights offering warrants and convertible business failures and organizations.

ECO 207.2 AGRICULTURAL ECONOMICS

The subject of agricultural economics involves the application of economics to the operations of the agricultural industry. It deals with the organization of farms, the study of demand and supply of agricultural products, the availability of inputs and their prices, such as labour use on the farm, wage rate and incentives to farm workers, capital and its availability, marketing system for agricultural products, policies and programs of government. The organization of both producing and marketing cooperatives are also within the area of agricultural economics.

The following subject matter will be introduced in this course:

1) Farm management

2) Farm records and accounts

3) Farm budgeting

4) Agricultural business management

5) Agricultural development and agricultural policy

6) Agricultural finance

7) Agricultural cooperatives

8) Agricultural marketing

9) Human resources management in agriculture.

ECO 301.1 INTERMEDIATE MICRO-ECONOMICS

Economic systems and their basic functions, approaches to economic analysis, theory of consumer (household) behavior and market demand, the Neo-classical marginal unity theory, the different curves theory, the revealed preference hypothesis, the consumer’s surplus, and applications of producer behavior, cost and supply. The production functions laws of production, the generalized theory of production, cost of production, cost output relation, theory of the firm perfect completion, pure monopoly, price indiscrimination, monopolistic competition, non-collusive of oligopoly, the marginal productivity theory of distribution.

ECO 302.1 APPLIED STATISTICS

The course seeks to apply the concepts, principles, theories and techniques of statistics and control to real world problems are case studies. The course thus begins with view of fundamentals of statistical theory, probability, stochastic modeling, rules, exams probability distribution and expectation, statistical inference, sampling point and internal estimation sampling and subjective testing, Keynesian quality control, sequential analysis process and control chart and extensions dynamic principle in control theory, other control methods.

ECO 303.1 PUBLIC SECTOR ECONOMICS

The objectives of this course are to examine the rationale for government intervention in the economy to explain how basic economic principles can be used to determine the effect of government’s expenditure and tax decisions and understand the welfare applications of public choices to supply economic principles to Nigeria fiscal issues and to develop the student’s ability to analyzed and understand the premises behind policy debates.

Pre-requite: ECO 101.1, ECO 201.1, ECO 201.2 and ECO 204.1

OUTLINE

The course is structured as follows:

Part I Basic Concepts: The nature, scope and methodology of public sector economic; definition of concepts, the methodology of public sector economics.

Part II The Rationale For Government Intervention: The efficiency criteria, competitive equilibrium and economic efficiency, the pathology market, failure law and order, social values, micro-economics goals, political ideological reasons.

Part III Public Expenditure Theory: The theory of public goods supply and extremelities pricing and investment rules expenditure criteria, externalities and corrective measures.

Part IV The Theory Of Taxation: Principles of taxation, types of taxes, tax equity, tax incidence, tax and expenditure incidence excess burden and efficiency.

Part V The Nigerian Public Finance: The structure of public expenditure:The structure of the Nigerian fiscal measures, monetary measures, fiscal and monetary measures interactions, exchange control measures, Nigerian fiscal federation, managing public department.

ECO 304.1 INTRODUCTORY ECONOMETRICS

The course is designed as 300 level econometrics and covers, definition, scope, nature and division of econometrics, the structure and model; functional forms and statistic terms, simple and multiple regression models, serial correlation and heteroscedacity, multicolinearity dummy variables autoregressive and lag models, variance convenience analysis, identification, simultaneous equation methods, input and output analysis as well as co-integration and error correction model.

ECO 305.1INTERNATIONAL ECONOMICS

This is a course designed to last a semester. It is primarily concerned with equipping students with a good knowledge of international finance. The major theories of international trade are through studies and their relevance to the experience of the Third World countries also examined. Students are led through a critical study of the various commercial policies applied in the conduct of international trade to understand and appreciate not only the policies, but also why policies are adopted, for example, tariffs, quota vamping are studied with a view to knowing the reasons for their use by countries and their effects on the countries.

Their trading patterns and the world community at large, the course further treats issues on international finance. Here considerable effort is made to equip students with the knowledge of how payment for goods and services are made, given the diversity of currencies. Balance of payment problems and possible policy instruments for adjustment are also studied. In specific terms, the course covers the following themes, a review of mercantile economic thought and the classical view of international trade, international trade theories by Adam Smith and David Richards.

The modern theory of international trade (factor endowment) by Heoks, her ohlin Samuelson H-O-S detailed and geometrical analysis of major instruments of analysis of the theory contract curve and production possibility, frontiers, the community indifference curve and the determination of the fairs from trade, the trade difference curves and the offer curve, the equilibrium production conditions, analysis of mat M-O-S Theorems of factor price equilibrium.

The nature of trade restrictions, natural obstacles to trade, transport cost, a diagrammatic analysis, artificial obstacles, tariffs, various types of tariffs, effective rate of tariffs, micro and macroeconomics effects of tariff arguments for tariff quota, effects and difference between quota and tariff dumping economic integration.

The market for foreign exchange: General characteristics of foreign exchange market (FEM). Balance of payment (BOP) definition and uses, principles of BOP and construction of BOP, varied meaning of BOP.

Balance of Payment Adjustments: The role of price in international adjustment, money and international adjustments, policy options for adjustment; internal and external balance with fixed exchange rates, and internal balance, the debates over fixed and flexible exchange rates, theories of direct investigations.

ECO 306.1 HUMAN RESOURCE ECONOMICS

The intention is to provide participants in the course with a sample of reading covering a broad range of topics and issues related to development utilization and the utilization of human resources in the process of rational economic social development. Obviously, the coverage must be limited. The selection we have made or offered, however, hopefully, will be wide enough to capture the interest of the students and outside participants.

The basic hope is to provide exposure to the field of human resources, work and its role in national development to all participants. We also hope to relate these topical issues or principles to the realities and the labour market and developing economy and applying them in simulated experiences. Finally, we look at the contribution of the investment intellectualization use in real life situations. Human capital theories, investment in human capital determinants of human capital accumulation, traditional manpower training, techniques for data collection and treatment for human resources planning, education and employment problems in developing countries (with special reference to Nigeria), issues in education for development, child work poverty and under employment, government programmes and employment generation (with reference to Nigeria), job creation, unemployment and mismatch hypothesis.

ECO 307.1 MATHEMATICAL ECONOMICS

Topics discussion include stated and dynamic optimization theory of economics, mathematics of the neo-classical paradigm, linear models of economic analysis, linear and non-linear programming, calculus of variations, control theory, activity analyst, dynamic programming, static and dynamic input and output analysis, some application.

ECO 301.2 INTERMEDIATE MACROECONOMICS

This is the second course in a two-semester undergraduate economic sequence. The primary focus of this course will be on macroeconomics modeling and comparative statics. This is the material that is needed to be understood along the current stabilization issues in order to pass the course outline.

A first model of income determination, the first model represent graphically properties of the model when investment depends on the rate of interest, the monetary sector, the demand for and supply of cash balances, theories of consumption and investment function, the expenditure and monetary sectors, the productive employment sector, production and the demand for labour.

The supply of labour, the equilibrium levels of employment output, the three-sector model at full employment equilibrium, a change in the expenditure; a change in the supply of money (or in liquidity), the hence sector model with an exogenous money wage rate; a change in supply of money. A shift in production, the function aggregate demand, the pigou effect and the AD functions, the pigousan AD and AS, the comparative statics of inflation, the complete model of income determination and stabilization policy, comparative static analysis, a summary and extension, the recent monetary fiscal debate, main points of issue, the monetarist case dynamic analysis of stabilization policy, advanced analysis of national income consistent equations, some macroeconomic policy issues, stagnation and solutions, the policy activism debate, the structural adjustment programme solution, production models of economic growth.

ECO 302.2RESEARCH METHODS IN ECONOMICS

The course aims at developing in the students, skills for applying the various principles, theories acquired in the various fields as well as techniques, tools of the scientific methodology in analysis, evaluating real world situation and problem and reporting research findings.

Research is essentially directed and disciplined investigation into phenomena of human experience leading to conclusion that increases the sum of human knowledge. It thus, seeks to link theory and observation. Research constitutes a method of critical thinking which comprise befinition and re-definition of problems, formulation of hypothesis, suggestion of solutions, collection, organization and evaluation of data and thinking deductions.

ECO 303.2 MONETARY ECONOMICS

This course aims at understanding monetary phenomena and their implications for general equilibrium economics. The discussions cover the framework for monetary analysis, concepts and nature of money and its role in the economy. Theories of the demand for and supply of money multiplier concepts, the wealth effect and the monetary mechanisms, high powered money supply, the various reasons of the quality of money, recent developments in the Keynesian approach. The transmission mechanism of monetary policy and the interaction with fiscal variables. The real balance effect the effectiveness of monetary policy rules versus discretionary actions in stabilization policy, and leads policy, conflicts and constraints of policy. International monetary adjustment and liquidity problems. Money, financial institutions and credit control and process of money creation. Central Banking and monetary control in Nigeria. Debt management control.

ECO 304.2 ENVIRONMENTAL ECONOMICS

This course is aimed at exposing the students to fundamental issues in environmental economics. The course shall cover the following areas:

(a) The economy and its management

(b) The framework for understanding the ecological perspective

(d) Resources, environment and economic development in the Niger Delta

(e) The future of economic growth and the environment in the Niger Delta

(f) Economic analysis of environmental issues in the Niger Delta

(g) Valuing the environment

(h) Ecological economics of the Niger Delta Region

(i) National income and environmental accounting

(j) Modeling economic and ecological systems

(k) Environment trade and development

(l) Pollution analysis, policy and sustainable development in the Niger Delta region

ECO 305.2 DEVELOPMENT ECONOMICS

General Approaches to Development Process: Methodological issues, Measuring Economic Development, Patterns of Development, Inductive Approaches.

Changes in Economic Structure (Clark, Kuznets, Chenery).
Social and Political Concomitants (Adelman, Moris)

Theories of Development: (a) Traditional Theories, (b) Radical and Marxian Approaches

Development as Generalized (Macro) Economic Growth: Neoclassical and Keynesian Growth Theory, Capital Formation and Development, the monetary system and Development, the Public Sector and Development.
Development as Structural Change: models of Dualistic Development, Agriculture and Development, Industry and Development, Labour Force Transfer and Urbanization, Income Distribution, Demographic Change, Skill Creation, The human Capital Approach.
Development in a World Economy: models of Trade and Development, the “Vent”, “Dualistic” and “Unequal Exchange” Approaches, Trade Policy, Opennes Vs autarchy, XP Vs ISI. The use of External resources.

Aid and Indirect Investment
Direct Foreign Investment: The multinational corporation and its Consequences

Issues in Nigerian Development Policy and the Millennium goals.

ECO 307.2LABOUR ECONOMICS

The purpose of this course is to enable students gain insight into the major areas of labour economics. Thus the course provides economic analysis of labour markets.

The demand and supply of labour, determination of the size and composition of the labour force, institutional issues and policies dealing with them and examination of employment behavior in the various branches of the economy, underemployment and micro disguised unemployment and problems of wage determination, development and efficient use of labour resources. It also examines the theory of labour movement in Nigeria and other countries providing comparative analysis of these tendencies, theories of collective bargaining issue and the economic consequences. Theories of informal and formal markets, the nature of labour problems in developing countries. Special attention is paid to the features of the Nigerian labour market, manpower development and government policies designed to deal with labour problems in the country

ECO 308.2 ECONOMICS OF PETROLEUM AND ENERGY

The course shall expose the students to theoretical and methodological issues in economics of natural resources (petroleum resources), world energy demand and supply, externalities of oil production in Niger Delta Region as well energy consumption and sustainable development.

The course shall cover the following

Energy and energy source in Nigeria

The dimension of energy problem in Nigeria

Energy consumption and sustainable development in Nigeria

Energy supply and utilization in Nigeria

Energy planning in Nigeria

Oil production and sustainable development in the Niger Delta Region

The economics of gas flaring

ECO 401.1 ADVANCED MICROECONOMICS

This course provides a rigorous and structural presentation of microeconomic issues, concepts, principles and theories in mathematical terms; it enables the student to grasp advanced microeconomics reasoning, principles and tools. Accordingly, the exposition makes liberal use of fairly restricted set of mathematical methods that underline set theoretical and linear models of economics and the principle constrained maximization.

Topics covered include the role of micro-economics, the role of mathematics, mathematical theory of optimization, theory of consumer behaviour, extension and application and cost theories of market, structure, competitive market, monopoly, monopolistic competition, duopoly oligopoly, bilateral monopoly, etc, linear micro-economic models of the firm, activities analysis, linear programming and input analysis, factor pricing theory of distinction, general equilibrium and optimization under uncertainty.

ECO 402.1PROJECT EVALUATION

This course provides the students with an overview of the concept, principles, theoretical and methodological foundations and techniques and of project analysis and evaluation. It will expose them tohow to identify project opportunities formulate projects and test them for technical, financial, economic, social, political, religious, organizational, managerial feasibilities. The knowledge and skills so imported are concretized by the way of case studies. Topics discussed cover definitions and classification of projects. An overview of project planning and implementation, project planning contexts and perspectives. The project in the context of the overall development programme, project identification and formulation. Data requirements, technical and environmental impact implications, evaluation of projects, calculation of investment required, financial and economic viability analysis. Cross impact analysis, organizational, marginal and institutional aspects, risks and uncertainties in project appraisal, major problems and issues, sensitivity analysis review and further evaluation.

Pre-requites: ECO 301.1, ECO 301.1, ECO 204.1 AND ECO 303.1

ECO 403.1 ECONOMIC PLANNING

This course introduce students to the meaning, necessity and methodology of economic planning as well as attempt to lead them to appreciation of the problems of development planning in Nigeria. To these ends, the course will run as follows:

The meaning of economic planning, the necessity for economic planning, methodology, the objectives of planning and techniques. Plan strategy balance versus unbalance plan, social overload capital versus directly productive activity; economic social balance (2.4) rural urban balance, consumption accumulation issue (2.6) population and manpower policy (2.7) import. Substitution-export drive, self-reliance dependence (2.9) choice of technology, private public owner (2.11) growth distribution. Development planning in Nigerian the strategy of Nigerian planning, the problems of prospects of planning in Nigeria. Planning in Russia. Planning in Africa, Europe, planning in Western Europe.

ECO 404.1 INDUSTRIAL ECONOMICS

This course provides an application of theoretical and analytical tools of economics useful in management decision making. The course offers rigorous treatment of economics theory and analysis with a focus on the tools and techniques that are useful and useable for decision making purpose. Examples and problems are used to illustrate the application of theory to a variety of decision situation. The nature of the decision process and the role that economic analysis plays is the focal point of emphasis.

Topics to be discussed include: Nature, scope and methodology of industrial economics, fundamental concepts, industrial structure, and definitions of problems and measurement theories of the firm, economic optimization, the growth of the firms. It will also cover diversification, mergers, innovation and investment, economic risk, and uncertainty analysis, demand theory and forecasting analysis, industrial pricing and marketing price and marketing of public goods, cost of capital, source of finance, resources allocation and production of economic cost, theory of linear programming, market structure analysis of profitability of output changes, short-term and long-term planning, capital budgeting, industrial location practices, problems of regulation and policies in Nigeria. Pre-requite – mathematical methods of economics, intermediate microeconomics.

ECO 406.1 ECONOMETRICS

Course outline include the following:

Scope and methodology of econometrics research

Properties of the least square estimates

Multiple regression, model and statistical tests of significance of estimates

Regression and analysis of variance

Regression analysis extensions and dummy variables

Three stage least squares

Heteroscedasticity

Multicolinearity

Autocorrelation

Co-integration, theory and error-correction model

Lagged variables and distribution lag model

Vector/auto regression model (VAR)

Simultaneous equation models

Identification problems

ECO 408.1 ADVANCED MATHEMATICAL ECONOMICS

The purpose of the course is to equip the students with high level mathematical analysis in economics. Since micro and macro-economic models and general equilibrium models are best presented in mathematical form, it is very pertinent to expose students to higher uses of mathematical principles in economic analysis.

The following areas will be covered:

Economic applications of graphs and equations

Derivatives and rules of differentiation

Uses of derivatives in economics

Calculus of multivariable functions in economics

Exponential and logarithm functions in economics

Fundamentals of linear – matrix algebra

Matrix inversion

Special determinants and matrices and their uses in economics

Linear programming! Simplex algorithm and the dual theorem

Integral calculus and economic analysis

Differential and difference equations

Calculus of variations

ECO 407.1 REGIONAL DEVELOPMENT AND ECONOMIC INTEGRATION

The purpose of this course is to enable students have a good knowledge of national international and world-wide integration. With particular reference to national integration, the course will examine the impact of national and regional integration on sustainable development in the Niger Delta Region of Nigeria.

ECO 401.2 ADVANCED MACROECONOMICS

This seeks to provide rigorous and structures mathematical treatment of macroeconomic issues and phenomena, concepts, principles and theories.

Topics covered include basic macroeconomic concept’s, principles and theories, basic models of income determination, extension from the simple closed two-sector model to open four-sector model of macroeconomics theories of consumption, business fixed investment, residential investment, inventory investment, replacement investment and the foreign sector, rigorous and critical survey of the various macroeconomic schools of thought, classical, neo-classical, Keynesian, structuralists, supply side models of the macroeconomic with particular focus on employment, output, growth and price stability, theories of the supply of money and financial sector equilibrium. The government sector and the budget constrained. Theories of money, prices and interest. Theories of general equilibrium, theories of growth and business cycle macroeconomics. Policies stabilization adjustment and resources allocation.

Pre-requisites: Introductory mathematics for Economist, Mathematical Methods for Economist, Intermediate Macroeconomics, and Introductory macro-economics.

ECO 402.2 COMPARATIVE ECONOMIC SYSTEMS

An economic system (defined). The task of an economic system, how an economic system determines what to be produced, how it is to be produced and to distribution of income and the rate of economic growth.

Capitalism as an economic system: What is capitalism? The four major characteristic of capitalist, private ownership of capital, freedom of income of enterprise, freedom of choice enterprise, free competition and reliance on market prices.

The origin of capitalism: A review of the feudal economic system, the fall of feudalism and the founding of towns, the enlargement of workshop, diversion of basis forte prediction of the fall of capitalism.

Why capitalism did not fall as predicted: A critical examination, or Marxian analysis of capitalism: Keynes and the survival of capitalism.

Analysis of the source of surplus value the profit: The exploitation tendencies in capitalism, the basis forte prediction of the fall of capitalism.

Major modification in capitalism: Increased state involvement in economic affairs, movement from sole proprietorship to numerous individual shareholders, incorporation of workers in decision making in industries, management in the hands of hired technical manager. The important role of economic planning accepted by capitalism.

Socialism as an economic system: The characteristics of socialism, communal ownership of property, allocation of resources through government fiat (non) reliance on market forces, absence of competition, the use of comprehensive planning.

The origin of socialism: The socialist revolution in Russia. The socialist revolution in China, the revolution in the light of Marxian anaylsis and prediction. The issue of ownership and profit socialism. The relationship between investment (growth) and profit in socialism exploitative tendencies in socialism socialist crises and the call for changes.

Major changes in socialism: Ownership of property, democratization of decision making, acceptance of minimum profit, major competition, mixture of state regulation and market forces in determining processes.

Current trends in capitalism and socialism: Various brands of capitalism, various brands of socialism, a trend of increasing similarities.

ECO 403.2 PROBLEMS AND POLICIES OF DEVELOPMENT

Introduction: The course aims at presenting a critical perspective of received doctrine, highlighting controversies on both issues and the frontiers of knowledge about the causes of poverty and stagnation, how to launch an economy unto a path of growth.

Topics include the general nature of the development problems, some case studies, general theories of development, the classical theory of capitalist of development, growth model of growth and collapse, other theories of growth lessons of history, theories of underdevelopment, geographic determination, dualistic stabilization and adjustment policies.

Re-requites: Intermediate micro-economics, Intermediate Macroeconomics, Development Economics.

ECO 404.2 THEORY AND PRACTICE OF ECONOMIC POLICY

The course covers the Nigerian system of income tax examination, structure and procedure, returns assessment appeal, postponement, collection with reference to all necessary legislation, distinction between taxation of income tax and taxation of capital, personal income tax, the law and practice of income tax relating to individuals, exemptions, settlements, trusts and estates, partnership assessment treatments of issues, computation of assessable income, commencement and cessation of trade or business. Company tax, the principles and scope of company tax. The small company provisions including

ECO 405.2 RESEARCH PROJECT AND ORIGINAL ESSAY

This course provides opportunities for experience with research at the advance stages of the undergraduate programme. It is a non-instructional faculty-supervised course in which students work largely independently. The student selects a topic for research subject for approval by the Faculty Research Committee and the Department.

9.00 PART – TIME

The Part Time evening programme of the Department is one of the numerous other programmes coordinated by the College of Continuing Education (CCE) located at Nkpolu Oroworukwo (i.e Mile 3) area of Port Harcourt City. It was introduced in 1989 at assuage the yearnings of numerous Nigerians who has past the conventional school age but still have the zeal to acquire a University degree. They are in the group of Nigerians, who were forced by circumstances to break their education at the secondary level in order to take up jobs and earn salaries to cater for themselves and/or other family members. Some of the courses are designed specifically to enhance the work skills of specific work groups such as those in social welfare services or rural development activities. The programme takes a minimum of 5 years or 15 terms.

THE REVISED ECONOMIC PROGRAMME (PART TIME)

YEAR I FIRST SEMESTER UNITS

ECO 101.1 Introductory Mathematics for Economist I 3

ECO 102.1 Principles of Economist I 3

SOC 102.1Introduction to Sociology 3

GES 103.1 Nigeria People and Culture 2

GES 104.1 History of Philosophy of Science 2

YEAR I SECOND SEMESTER UNITS

ECO 101.2Introductory Mathematics for Economist II 3

ECO 102.2 Principles of Economist II 3

GES 100.2 Communication Skills in English 4

GES 102.2 Introduction to Philosophy and Logic 2

YEAR I THIRD SEMESTER UNITS

POL 101.3 Political Analysis 2

GEM 106.3 The Human Environment 3

MGT 150.3 Principles of Management 3

GES 101.3 Computer Appreciation 3

YEAR II FIRST SEMESTER UNITS

ECO 201.1 Introduction to Microeconomics 3

ECO 202.1Structure of Nigerian Economy 3

ECO 203.1 History of Economic Thought 3

ECO 204.1 Introductory Statistics 3

YEAR II SECOND SEMESTER UNITS

MTH 280.2 Introduction to Computer 3

ECO 201.2Introductory Macroeconomics 3

ECO 203.2 Economic History 3

FSC 2C1.2Community Service 1

ACT Introduction to Accounting 3

Elective

ECO 207.2 Agricultural Economics 3

YEAR II THIRD SEMESTER UNITS

ECO 204.3 Statistical Methods and Source 3

ECO 205.3 Mathematical Method for Economists 3

ECO 202.3 Political Economy of Development 3

FIN 232.3 Principles of Finance 3

YEAR III FIRST SEMESTER UNITS

ECO 301.1 Intermediate Microeconomics 3

ECO 302.1 Applied Statistics 3

ECO 303.1 Public Sector Economics 3

ECO 304.1 Introduction to Econometrics 3

ECO 307.1Mathematical Economics 3

ECO 306.1Human Resource Economics 3

YEAR III SECOND SEMESTER UNITS

ECO 301.2Intermediate Macro-economics 3

ECO 302.2 Research Methods 3

ECO 304.2 Environmental Economics 3

ECO 305.2 International Economics 3

Elective

ECO 307.2Labour Economics 3

YEAR III THIRD SEMESTER UNITS

ECO 303.3Monetary Economics 3

ECO 305.3 Development Economics 3

ECO 308.3Economics of Petroleum/Energy 3

CSC 282.2Application of Computer 3

GES 300.3 Fundamental Entrepreneurship 2

YEAR IV FIRST SEMESTER UNITS

ECO 401.1 Advanced Microeconomics 3

ECO 402.1 Project Planning/Evaluation 3

ECO 406.1 Econometrics 3

ECO 408.1 Advanced Mathematical Economics 3

ECO 403.1Economic Planning 3

YEAR IV SECOND SEMESTER UNITS

ECO 401.2 Advanced Macroeconomics 3

ECO 404.2 Industrial Economics 3

ECO 402.2 Comparative Economics 3

Elective

ECO 407.1 Regional Development and Economic

Integration 3

YEAR IV THIRD SEMESTER UNITS

ECO 404.3 Theory and Practice of Economic Policy 3

ECO 403.3 Problems and Policies of Development 3

ECO 400.3Entrepreneurship 2

YEAR V

ECO 405.1 Research Project 6

10.00 GRADUATE PROGRAMMES IN ECONOMICS

The revised graduate courses offered in the Department of Economics, Faculty of Social Sciences, University of Port Harcourt include the underlisted courses using the Bench Mark approved by the NUC.

ADMISSION REQUIREMENTS

To be admitted into the M.Sc programme, candidates must have a good honours degree in Economics. For the Ph.Din Economics, an overall CGPA of 4.0 is required. Students with good honours degrees in any discipline can be admitted into the PGD programme.

A. PGD IN ECONOMICS

FIRST SEMESTER

S/N Course Code Course Title Credit Units

1. ECO 701.1 Microeconomics 3

2. ECO 703.1 Mathematics for Economics 3

3. Any two other course from area of Specialization 6

Total 12

SECONDSEMESTER

S/N Course Code Course Title Credit Units

1. ECO 701.2 Macroeconomics 3

2. ECO 704.2 Basic Research and Computer Application 3

3. Any two other course from area of Specialization 6

4. Project to be defended 6

Total 18

Grand total 30

AREAS OF SPECIALIZATION

S/N Course Code Course Title Credit Units

1. ECO 702.1 Theories of Development 3

2. ECO 716.1 Economic Planning 3

3. ECO 750.1 Issues of Monetary Economics 3

4. ECO 749.1 Nigerian Financial System 3

4. ECO 718.1 Human Resources Economics 3

6. ECO 715.2 Public Sector Economics 3

7. ECO 751.2 International Finance 3

8. ECO 752.2 Labour and Manpower Economics 3

9 ECO 718.2 Industrial Relation 3

10. ECO 717.2 Economics of Petroleum and Energy 3

11. ECO 702.2 Agricultural Economics and Rural Development 3

NOTE: The successful completion of the programme requires a total of 27 credit units.

B. M.SC. ECONOMICS

FIRST SEMESTER

S/N Course Code Course Title Credit Units

1. ECO 801.1 Advanced Microeconomics 3

2. ECO 800.1 History of Economic Thought and

Method (Qualitative Method) 3

3. ECO 831.1 Mathematical Economics 3

4. ECO 812.1 Issues in Entrepreneurship 3

5. Two elective coursesin area of specialization 6

Electives

Course Code Course Title

a) ECO 820.1 Monetary Theory and Policy 3

b) ECO 870.1 International Economics 3

c) ECO 810.1 Economic Development 3

d) ECO 811.1 Economic Planning 3

e) ECO 880.1 Industrial Economics 3

f) ECO 830.1 Advanced Mathematical Economics 3

g) ECO 850.1 Labour Economics and Industrial Relation 3

SECONDSEMESTER

S/N Course Code Course Title Credit Units

1. ECO 801.2 Advanced Macroeconomics 3

2. ECO 805.2 Quantitative Research Method –Econometrics 3

3. ECO 840.2 Seminar on the Nigerian Economy 3

4. Two elective courses in area of specialization 6

5. ECO 899 Dissertation 6

Sub Total 21

Grand Total 18 + 21 39

Electives

a) ECO 821.1 Nigerian Financial System 3

b) ECO 870.1 International Monetary and Financial System 3

c) ECO 812.2 Project Analysis and Evaluation 3

d) ECO 814.2Problems and Policies of Development 3

e) ECO 860.2 Agricultural Economics and Rural Development 3

f) ECO 813.2 Public Sector Economics 3

g) ECO 893.2 Theory and Practice of Economic Policy 3

h) ECO 830.2 Advanced Econometrics 3

i) ECO 883.2 Environmental Economics 3

j) ECO 882.2 Petroleum and Energy Economics 3

k) ECO 852.2 Manpower Planning 3

NOTE: Total credit units needed for Graduation 42

C. Ph.D IN ECONOMICS

FIRST SEMESTER

S/N Course Code Course Title Credit Units

1. ECO 900.1 Selected Topics in Microeconomics 3

2. ECO 901.1 Advanced Project Management I 3

3. Seminar I 3

4. Seminar II 3

Total 12

SECONDSEMESTER

S/N Course Code Course Title Credit Units

1. ECO 900.2Selected Topics in Macroeconomics 3

2. ECO 901.2 Advanced Project Management II 3

3. Seminar III 3

4. Seminar IV 3

5. ECO 999 Thesis 6

Total 18

NOTE: Seminar on ECO 904.1 (History of Economic Thought) is compulsory for all students. Thereafter students are free to choose the remaining three from among the underlisted courses for seminars II, III, and IV.

S/N Course Code Course Title Credit Units

1. ECO 904.1 History of Economic Thought 3

2. ECO 905.1 Reading in Economic Development 3

3. ECO 906.1 Macroeconomics of the Open Economy 3

4. ECO 907.1Manpower Economics 3

5. ECO 908.1 Reading in Public Policy Economics 3

6. ECO 904.2 Advanced Economics 3

7. ECO 905.2 Agriculture and Economic Development 3

8. ECO 906.2 Petroleum and Energy Economics 3

9. ECO 907.2 International Trade and Finance 3

NOTE:

1. Before proceeding to the dissertation stage, the student must have passed all the approved courses.

2. The student must have also passed a qualifying examination which comprises Economic Theory and area of specialization.

NOTE: Total credit units required for graduation is 30

11.00 Course Description

ECO 801.1 ADVANCED MICROECONOMICS

The objective of this course is to deepen and widen the critical and analytical understanding of theoretical and methodological issues in microeconomics as well as problems of application of microeconomics models to real phenomena beyond the undergraduate training. Accordingly, it is aimed at exploring advanced literature, material and methodology. The audience is assume to possess sound mathematical background. To benefit from the course, students need to have or to develop a reasonable amount of mathematical sophistication. That is, the need to understand the concept of a proof and to be able to construct simple proofs themselves. The foundation for developing this skill is a good understanding of calculus and familiarity with elementary linear algebra analysis.

Course schedule

Introduction: The Role of Theory, Microeconomics and the Role of mathematics
Demand and supply functions
Elasticity of Demand and supply functions
Theory of Consumer Behaviour

Cardinal Unity Approach
Ordinal Utility or Indifference Curve Approach
Revealed Preference Approach

Theory of Production

Production function
Short-run Production function / analysis
Long-run Production function / analysis

Theory of costs and revenue

Short-run cost functions
Long-run cost functions
Cost minimization
Total Marginal and Average Revenue Function

Theory of Market Structure

Perfect competition
Monopoly-pure monopoly, price Discriminating Monopoly, Multi-plant Monopoly
Monopolist competition
Oligopoly, duopoly

Theory of distribution and factor pricing
Theory of General Equilibrium
Welfare Economics

ECO 801.2 ADVANCED MACROECONOMICS

Macroeconomics as the study of the behavior of aggregate magnitudes including that of the macroeconomy as a whole in this presentation is aimed at achieving three substantive objectives. The basic objectives relate to the substance, methodology and organization of the material presented. Specifically, it presents skeleton of the macroeconomy and how its parts relate and interact.

Course schedule

Macroeconomic framework
Macroeconomic supply function
The expenditure sector

Consumption function and equilibrium national income
Investment function and equilibrium income/IS curve
Government expenditure / taxation and equilibrium national income / IS curve
Expenditure and tax multipliers

The monetary sector

Money Demand
Money Supply
Equilibrium in the Monetary sector / LM curve

General Equilibrium Analysis
The External Sector

Foreign Exchange market
Imports, Exports and the Balance of Payments
Balance of Trade and the Income Determination Model

Macroeonomic Problems / Objectives
Macroeconomic policy measures or theory of stabilization policy.

ECO 800.1 HISTORY OF ECONOMIC THOUGHT AND METHOD (QUALITATIVE METHOD)

The course involves an indepth and critical examination of the major schools of economic thought spanning from the ancient to the current era. Special attention is paid to the pre-capitalist 17^th century mercantilist economists to the contemporary mainstream and alternative economic viewpoints.

Course Outline

1) Method and Introduction of History of Economic Thought

2) Family Tree of Economics

3) The Ancients and Middle Ages

a) Judaic and Greek Thought

b) Scholastics, Christianity and Islam

4) The Age of Reason Emergence of Modern World Perspective and “Science”

5) Classical Economics

a) Scottish Renaissance

b) Adam Smith

c) Jeremy Bentham and Utilitarianism

d) Thomas Malthus

e) David Ricardo

f) Jean Baptist Say

g) Nassau Senior

h) John Stuart Mill

6) Marxian Critique of Capitalism

a) Pre-Socialist Commentators (Utopians)

b) Karl Marx

c) Other Socialists

7) Historical School

a) German Historical

b) British Historical School

8) Marginalis School

a) Forerunners

b) French Engineers

c) British Utilitarian’s

d) Austrians and Methodenstreit

9) Neo – Classical Synthesis

a) Alfred Marshall

b) Leon Walras

c) Vilfredo Pareto

d) John Bates Clark

10) Critique of Neo-Classicism

a) Pragmatists

b) Thornstein Veblen and the Old or Original Institutionalists

c) John R-Commons

d) Richard T. Ely

e) John Maurice Clark

f) Clarence Ayres

11) Microeconomics and the Great Depression

a) Joan Robinson

b) Edward Chamberlin Cycles

c) Gardner C. Means Keynes

12) Macroeconomics and the Great Depression

a) Money

b) Business Cycles

c) John Maynard Keynes

d) Frederich Hayek

13) Return to Individualism and the Market Ideology

a) The Chicago school

i) Old Chicago School

ii) Chicago School

b) Monetarism and Rational Expectations

c) Public Choice, Property Riytsand law

d) The New Institutionalists

14) What next?

ECO 831.1 MATHEMATICAL ECONOMICS

This course is designed to enhance the technical ability and competence of specialists in economic theory and quantitative economics in particular and the analytical ability and logical thought structure of doctoral students in general. Given that mathematical logic principles and techniques would unveil the secrets of economic relationship through abstract by logical argumentation and thereby illuminate the intuitive understanding of economic events. Mathematical treatment of economics uncovers the economic truth in a strictly logical fashion deducing propositions about the economic world from few premises or axioms. Unfortunately, however, the advantages of this procedure are accessible only to the initiated. Hence all graduate students are encouraged but doctoral students are required to stand the long endurance test in mathematics.

Course Schedule

The topics to be covered here include

Logarithms, Exponents and Growth mathematics
Differential calculus and application to economic analysis.
Integral Calculus and applications to economic analysis.
Matrix Algebra and applications
Input-output Analysis
Comparative Statics
Optimization Theories
Linear programming and non-linear programming
Special king of linear programming-Assignment model and transportation model
Games theory
Network analysis and application
Applications of Static and Dynamic programming in theories of household and Firm Behaviour theories of Household and Firm Behaviour
Dual programming
Simulation model and applications
Queuing theory and application
Partial and General equilibrium and Welfare Economics
First Order Difference Equation
Higher Order Difference Equation
Differential Optimal Growth path
The Application of Wairasian competitive economics and the Jacobain Matrix and Global Univalence

ECO 812.1 ISSUES IN ENTREPRENEURSHIP

The course issues in entrepreneurship, seeks to equip graduate students, with entrepreneurial knowledge and skills in a vast and rapidly changing world, where paid employment is going into extinction.

The knowledge and skills so imparted are to be concretized in practical case studies, delivered in seminar presentation.

Specifically, the course provides the student with an overview of the concepts, principles, theoretical and methodological foundations and techniques, and would have learnt how to identify project opportunities, formulate business project and test them for technical, financial, economic, social, political viability and sustainability.

Course Schedule

1) An introduction to entrepreneurship: who is an entrepreneur?

2) Entrepreneurship and wealth creation

3) Entrepreneurship theory and practice: inter-disciplinary perspectives

4) Distinguishing entrepreneurial from organization behavior

5) Persons, process, choice: the psychology of new venture creation

6) A finance view point in Entrepreneurship

7) Marketing interface to advance Entrepreneurship

8) Differentiating entrepreneurs from small business owners

9) Entrepreneurial risk and strategic decision – making.

10) Environmental influence on Entrepreneurship

11) Government/legal influences of Entrepreneurship

12) Entrepreneurial strategy making and firm performance: tests of contingency and configurationally models

13) Evaluation of organizational performance in small business research

14) Competing change: strategies for industrial and technological innovation

15) Entrepreneurship issues in a digitalized economy

16) Existing business modelsand pioneers

17) Preferred solutions to some issues in entrepreneurship in Nigeria

ECO 820.1 MONETARY THEORY AND POLICY

Monetary Theory and Policy is both a theoretical and applied science. The course therefore aims to thoroughly integrate into a theoretical structure substantial history and institutional material in analyzing the effects of money and finance on goal variables – output, prices and economic growth and the complex dynamics of growth and decay and policy action and reaction within the changing orientation of Monetary control on real economics.

Course Schedule

The role of money in the economy
The role of Financial institutions and credit
International Banking Monetary theory
Determinants of the Money supply-Monetary base, money multiplier
Control of the Money supply
Relationship between the Money supply and credit
The demand for money
Money in General Equilibrium
The monetarists controversies
Structure of Interest Rates
Economic Problems: Inflation, Unemployment, Recession.
Goals of monetary Policy, Instruments of and Targets of Monetary Policy.
Theory of monetary Policy
The Politics of Money
The Political Economy of Monetary Policy Making
The implementation of Monetary Policy
History of Monetary Policy in Nigeria
Effectiveness of Monetary Policy
Rules Versus Discretionary Policy
Empirical Evidence
Finance and the Allocative Mechanism
The Transmission process and Policy Implication
Expectations, Stagflation and Monetary Policy
Balance of Payments and Monetary Policy
Money and the World Economy.

ECO 870.1 INTERNATIONAL MONETARY AND FINANCIAL SYSTEM

The course seeks to discuss in detail balance of payments concepts and measures, international monetary systems, floating as opposed to fixed exchange rates, internal and external balance, monetary integration, foreign exchange markets, international liquidity and reform of the international monetary system, determinant of demand for money in developing combine comparison of banking systems in selected advanced and developing countries.

ECO 810.1 ECONOMIC DEVELOPMENT

This is an advanced survey of basic literature is the field. It is directed towards providing a base from which intending specialists in this field can acquire technical competence. The methodological principle allows for lectures and discussions which provide each student with an opportunity to present a review of new developments in one of the areas of topical literature covered.

Prerequisites

The expositional principles assume broad training core theory – Macro and Micro-economics and competence in using quantitative techniques.

Course schedule

General Approaches to Development Process: Methodological issues, Measuring Economic Development, Patterns of Development, Inductive Approaches.

Changes in Economic Structure (Clark, Kuznets, Chenery).
Social and Political Concomitants (Adelman, Moris)

Theories of Development: (a) Traditional Theories, (b) Radical and Marxian Approaches

Development as Generalized (Macro) Economic Growth: Neoclassical and Keynesian Growth Theory, Capital Formation and Development, the monetary system and Development, the Public Sector and Development.
Development as Structural Change: models of Dualistic Development, Agriculture and Development, Industry and Development, Labour Force Transfer and Urbanization, Income Distribution, Demographic Change, Skill Creation, The human Capital Approach.
Development in a World Economy: models of Trade and Development, the “Vent”, “Dualistic” and “Unequal Exchange” Approaches, Trade Policy, Opennes Vs autarchy, XP Vs ISI. The use of External resources.

Aid and Indirect Investment
Direct Foreign Investment: The multinational corporation and its Consequences

Issues in Nigerian Development Policy and the Millennium goals.

ECO 811.1 ECONOMIC PLANNING

The quest for ordered socioeconomic development is predicted on economic planning because as Abraham Lincoln puts it, “if we could first know where we are, and whether we are tending to, (relative to where we want to be), we could better judge what to do and how to do it (and possibly do it well). “it is therefore not surprising that planning as an instrument of stock-taking, analysis and mechanism of management has been viewed as essential and perhaps the only institutional and organization mechanism for overcoming the major obstacles to development and for ensuring sustained high rate of economic growth and desired structural transformations. The course therefore provides a survey of the basic literature on theoretical concepts, principles, theories and models or development planning focusing on economic problems and issues of policy significance.

Course Schedule

The meaning, nature and scope of Development Planning
Basic Concepts.
The rational for development planning
The Role of Theory, Quantitative Policy and Economic Planning
National Accounts
The Planning process
Ends-Means-Instruments Consistency and measurability.
Models of Development Planning and Policy: Short-term macroeconomic models, Based on national accounts Economy-wide models, Medium and Long run macro Growth Models.
The mehalanobis and Two-Gap models, Dualistic Models, mathematical techniques-input-output Models, Linear programming and Dynamic optimization models.
Closing input-output Models inter-industry Planning models for Multi-Regional economy Tinbergen’s approach and multiple goals; substitution and nonlinear-rites in Planning Models.
Models for Employment and Educational Planning
Organization and implementation process
The crisis in planning computable general equilibrium models
An overview of the Historical Development of the Nigerian Economy.
The Nigerian Experience with Planning.
Lessons from other Experiences
Problems and prospects for development planning in Nigeria.

ECO 880.1 INDUSTRIAL ECONOMICS

ECO 830.1 ADVANCED MATHEMATICAL ECONOMICS

The topics to be discussed include:

Economic applications of graphs and equations

Derivatives and rules of differentiation

Uses of derivatives in economics

Calculus of multivariable functions in economics

Exponential and logarithm functions in economics

Fundamentals of linear – matrix algebra

Matrix inversion

Special determinants and matrices and their uses in economics

Linear programming! Simplex algorithm and the dual theorem

Integral calculus and economic analysis

Differential and difference equations

Calculus of variations

ECO 850.1 LABOUR ECONOMICS AND INDUSTRIAL RELATION

This is a graduate level survey extensive literature, methodologies, analytical concepts, principles and theories applicable to a wide variety of labour issues.

Course Schedule

Theories of Labour Market Behaviour: Determinants of the Size, Structure and dynamics of Labour Supply and Demand.
Analysis of Contemporary Trends in Wages, Employment and Unemployment.
The Role of Education and Training
Intervening Variables: Institutional Variables Collective Bargaining, Labour Union and Employers Association.
Arbitration and Contract Administration Panels
Other Government Agencies, Minimum Wage Laws, Safety Regulations, Conditions of work and Work Conditions, Mandatory retirement and Benefit Issues.
Issues in productivity, income and Employment

ECO 801.2 ADVANCED MACROECONOMICS

This seeks to provide rigorous and structures mathematical treatment of macroeconomic issues and phenomena, concepts, principles and theories.

ECO 805.2 QUANTITATIVE RESEARCH METHOD – ECONOMETRICS

This course is designed to provide non-specialists in quantitative economics with skills in the understanding and application of mathematical reasoning and quantitative methods in order to follow modern developments in economic theory and understand the empirical results derived in econometrics which reflects the growing reliance upon mathematical and statistical techniques in economic analysis. Since the more recent evolution of economics has encompassed a remarkable development of econometric techniques and their uses in empirical economic analysis, econometrics is no longer the preserve of a select few but has now become a basic ingredient in the training of virtually all students of economics. Because these methods are integral aspects of the methods of scientific inquiry through which hypotheses are developed and tested. Therefore, maturity in quantitative methods is expected of the products of all our graduate programmes.

Course schedule

Nature and scope of Econometrics
Methodology or Econometrics Research
Correlation Theory
Simple Linear Regression Model
Statistical Tests of Significance of Estimates
Properties of the Least square Estimates
Multiple Regression Model
Regression and Analysis of Variance
Regression Analysis Extensions and Dummy Variable
Heteroscedasticity
Multicolinearity
Autocorrelation
Cointegration Theory and Error Correction Model
Lagged Variables and Distributed-Lag Model
Vector Autoregression Models (VAR)
Simultaneous Equation Models
Identification Problem
Mixed Estimation Technique
Maximum Likelihood Method
Three Stage Least Squares

ECO 821.1 NIGERIAN FINANCIAL SYSTEM

The course covers the overview of the Nigerian financial industry, Nigerian financial markets, money, capital and foreign exchange markets, performance of the financial service industry, the relationship between global financial and the Nigerian financial environments.

ECO 870.1 INTERNATIONAL MONETARY AND FINANCIAL SYSTEM

ECO 812.2 PROJECT ANALYSIS AND EVALUATION

The art of project analysis or the ability to identify, formulate, appraise, and select desirable and feasible development and social change projects, has long been, and continues to remain in critically short supply. This course therefore seeks to provide an opportunity to learn the core of this vital art through a graduate level survey of methodological foundations of project planning and evaluation and to consider a number of its problems and issues.

Courses Schedule

The proposed course schedule includes;

Introduction and overview
Project planning contexts and perspectives
Project identification and formulation.
Project feasibility dimensions
Technical and Environmental aspects
Cost-Benefit Analysis
Financial and Economic aspect
Social Cost-benefit Analysis and impact Assessment
Organization, Managerial and Institutional Aspect
Risks and uncertainties
Sensitivity Analysis
Major project Planning problems and issues
Review and Evaluation
Network analysis and application to project management.

ECO 814.2 PROBLEMS AND POLICIES OF DEVELOPMENT

ECO 860.2 AGRICULTURAL ECONOMICS AND RURAL DEVELOPMENT

The following subject matter will be introduced in this course:

1) Farm management

2) Farm records and accounts

3) Farm budgeting

4) Agricultural business management

5) Agricultural development and agricultural policy

6) Agricultural finance

7) Agricultural cooperatives

8) Agricultural marketing

9) Human resources management in agriculture.

ECO 813.2 PUBLIC SECTOR ECONOMICS

The course shall cover nature and scope of public sector economics, measurement of social welfare, welfare maximization and pareto optimality, market failure and government intervention, theories of public goods, externalities, theory and empirical evidence on expenditure development and tax structure, fiscal policy and non-fiscal policy and economic revenue of some selected countries, federalism and fiscal adjustment theory and practice in selected countries.

ECO 893.2 THEORY AND PRACTICE OF ECONOMIC POLICY

This course aims at deepening the student’s understanding of the theories and principles of fiscal economics and the tools for analyzing the implications of alternative fiscal proposals and institutional changes.

Course Schedule

Review of Basic Concepts
Fiscal Functions and Institutions
Economic Aspects of Government
Budgeting as a policy and Programme Instrument, fiscal Intervention and the Allocation of Resources
Legal and Basic principles of taxation and tax administration in Nigeria.
The Sequence of fiscal Policy in Nigeria and the Underlying Socioeconomic.
Political and Institutional forces
Monetary Policy.

ECO 830.2 ADVANCED ECONOMETRICS

Having offered introductory econometrics this course is designed as 400 level econometrics, in year 3, which seeks to expose the students to high level econometric tools to enable them apply the techniques in their research work. The topics include multiple regression and analysis of variance, dummy variable repression models, heteroscedasticity, autocorrelation, multicolinearity, simultaneous equation models and methods, concepts in time series econometrics, stochastic processes, unit root stochastic process, stationarity and non-stationarity, stationarity and unit root test, cointegration and error correction mechanism as well as vector autoregression.

ECO 883.2 ENVIRONMENTAL ECONOMICS

This course is aimed at exposing the students to fundamental issues in environmental economics. The course shall cover the following areas:

(a) The economy and its management

(b) The framework for understanding the ecological perspective

(d) Resources, environment and economic development in the Niger Delta

(e) The future of economic growth and the environment in the Niger Delta

(f) Economic analysis of environmental issues in the Niger Delta

(g) Valuing the environment

(h) Ecological economics of the Niger Delta Region

(i) National income and environmental accounting

(j) Modeling economic and ecological systems

(k) Environment trade and development

(l) Pollution analysis, policy and sustainable development in the Niger Delta region

ECO 882.2 ECONOMICS OF PETROLEUM AND ENERGY

The course shall cover the following

Energy and energy source in Nigeria

The dimension of energy problem in Nigeria

Energy consumption and sustainable development in Nigeria

Energy supply and utilization in Nigeria

Energy planning in Nigeria

Oil production and sustainable development in the Niger Delta Region

The economics of gas flaring

ECO 852.2 MANPOWER PLANNING

Manpower planning is a technique designed to ensure that the right people are in the right place at the right time. Therefore, the primary purpose of this course is to introduce students to various techniques used in manpower planning in both developed and developing countries.

The course will cover Principles, Theories and Techniques of Manpower Planning and Programming, as well as whystudy Manpower Development.

Department of Economics

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