COURSES

CLASSIFICATION OF COURSES

The following terminologies shall be used:

(i)         Compulsory Courses

Courses specified by a department, which a student must take, and pass.

(ii)        Required Courses

These shall mean those specified courses with a department, which a student must take but not necessarily pass. A minimum mark of 30% is needed to satisfy this requirement.

 

(iii)       Elective Courses

These shall mean course from which a student can choose in order to make up the required additional units for the award of degree.

 

(iv)       University Courses - General Studies (GES) Courses

It should be said unequivocally that no student may graduate from the University without passing ALL relevant GES courses.

 

(v)        Faculty- wide Course FSS 204

FSS 204: Statistics in the Social Sciences is a faculty course and is compulsory for all students in the Faculty of the Social Sciences.  As the title suggests the course is concerned with the fundamentals of statistics in the Social Sciences

 

COURSES OFFERRED UNDER BACHELOR OF SCIENCE DEGREE PROGRAMME IN ECONOMICS

 

FIRST SEMESTER

 

Course Code                 Course Title

Eco 101                        Introductory Economics I

Eco 104                        Introductory Mathematics for Economists I

Eco 105                        Arguments and Critical Thinking

Eco 201                        Principles of Economics I

Eco 204                        Introductory Mathematics for Economists II

Eco 301                        Microeconomic Theory

Eco 303                        Structure of the Nigerian Economy

Eco 305                        Project Analysis I

Eco 311                        Introduction to Accounting

Eco 331                        Introduction to Political Economy

Eco 341                        Mathematics for Economists

Eco 342                        Introduction to Operation Research

Eco 351                        Introduction to International Economics

Eco 361                        Monetary and Financial Institutions

Eco 371                        Elements of Public Finance

Eco 381                        History of Economic Thought I

Eco 391                                    Economics of Human Resources

Eco 401                        Microeconomics

Eco 403                        Original Essay

Eco 404                        Quantitative Analysis

Eco 415                        Corporate Finance

Eco 423                        Development Economics

Eco 425                                    Environmental and Resource Economics

Eco 433                        Comparative Economic Systems I

Eco 443                        Econometrics

Eco 451                        Theory of International Trade

Eco 461                        Monetary Theory and Policy

Eco 471                        Public Sector Economics

Eco 483                        Developments in Global Economy

Eco 485                        Issues in Islamic Economic System and Finance

Eco 487                        Issues of Industrial Economics

Eco 491                        Labour Economics

 

SECOND SEMESTER

 

Eco 102                        Introductory Economics II

Eco 103                        Nigerian Economy in Perspective

Eco 202                        Principles of Economics II

Eco 203                        Applied Economics

Eco 205                        Introduction to Logic

Eco 302                        Macroeconomic Theory

Eco 304                        Statistics for Economics

Eco 306                        Research Methodology

Eco 312                        Principles of Accounting

Eco 321                        Economic Development Theory

Eco 342                        Introduction to Operation Research

Eco 352                        Fundamental of Deposit Insurance

Eco 362                        Monetary Theory

Eco 385                        Principles of Islamic Economics and Finance

Eco 393                        Introduction to Industrial Economics

Eco 402                        Macroeconomics

Eco 403                        Original Essay

Eco 405                        Project Analysis II: Case Study

Eco 416                        Accounting for Economic Decision Making

Eco 432                        The Political Economy of Institutions

Eco 452                        International Finance

Eco 462                        Practice of Deposit Insurance System

Eco 472                        Fiscal Policy

Eco 486                        Industrial Economics

Eco 492                        Issues in Human Capital Development

 

FOUR YEAR DEGREE PROGRAMME

SUMMARY OF COURSES

 

(A)       COMPULSORY COURSES

 

(i)         100 Level                                                          Units

ECO 101                                                           3

ECO 102                                                           3

ECO 104                                                           3

 

(ii)        200 Level

ECO 201                                                           3

ECO 202                                                           3

ECO 204                                                           3

FSS 204                                                                        3

                                                           

(ii)        300 Level

ECO 301                                                           3

ECO 302                                                           3

ECO304                                                            3

ECO306                                                            3

 

(iv)       400 Level

ECO 401                                                           3

ECO 402                                                           3

ECO 403                                                           6

ECO405                                                            3

 

(B)       REQUIRED COURSES

 

(i)         100 Level

ECO 103                                                           3

ECO 105                                                           3

 

(ii)        200 Level

ECO 203                                                           3

ECO 205                                                           3

(iii)       300 Level

ECO 303                                                           3

ECO 311                                                           3

ECO 321                                                           3

ECO 341                                                           3

ECO 305                                                           3

ECO 381                                                           3

 

(iv)       400 Level

ECO 404                                                           3

ECO 406                                                           3

ECO 443                                                           3

 

(C)       ELECTIVE COURSES

 

(i)         100 Level

            Nil

 

(ii)        200 Level

            Nil

 

(iii)       300 Level

ECO 312                                                           3

ECO 331                                                           3

ECO 342                                                           3

ECO 351                                                           3

ECO 352                                                           3

ECO 361                                                           3

ECO 362                                                           3

ECO 371                                                           3

ECO 385                                                           3

ECO 391                                                           3

ECO 393                                                           3

 

(iv)      400 Level

ECO 415                                                           3

ECO 416                                                           3

ECO 423                                                           3

ECO 425                                                           3

ECO 432                                                           3

ECO 433                                                           3

ECO 442                                                           3

ECO 451                                                           3

ECO 452                                                           3

ECO 461                                                           3

ECO 462                                                           3

ECO 471                                                           3

ECO 472                                                           3

ECO 483                                                           3

ECO 485                                                           3

ECO 486                                                           3

ECO 487                                                           3

ECO 491                                                           3

ECO 492                                                           3

 

COURSE LIST FOR THE FOUR YEAR B.Sc.. (Econs) DEGREE

 

A          =          No. of Hours Theoretical Instruction

B          =          No. of Hours of Practical Instruction

C          =          Total No. of Units

D          =          Pre-requisites

E          =          Remarks

                                                            C:         Compulsory

                                                            R:         Required

                                                            E:         Elective

                                                            PR:      Pre-requisite

 

Course Code

Course Title/Contents (Course Description/Synopsis

A

B

C

D

E

GES 101

Use of English

 

 

 

 

3.0

 

University Compulsory General studies

GES 104

Science and mankind

 

 

2.0

 

“       “        

GES 105

Agriculture, Renewable Natural Resources, Animal Husbandry and Health

 

 

2.0

 

“       “          “

GES107

Reproductive Health, Sexually Transmitted Infections (STIs) and Human Immunodeficiency Virus (HIV)

 

 

2.0

 

“       “          “

GES 201

Use of English II

 

 

3

 

“       “         

GES 301

Introduction to Entrepreneurial Skills

 

 

2

 

“       “         

ECO 101

PRINCIPLES OF ECONOMICS I

The Basic Problem of Scarcity and Choice; the methodology of Economic science; general principle of resource allocation; equilibrium; microeconomics vs macroeconomics. Theory of demand, supply and price type of allocation decisions. Theory of the Firm; Introduction to Welfare economics. HL:45; HP:0; U:3

45

 

3.0

 

Compulsory

Pre-Requisite to 201

ECO 102

PRINCIPLES OF ECONOMICS II

Introduction to macroeconomics; national Income Determination; The public sector in national economy and macroeconomic policy objectives and instruments; Introduction to money and banking; introduction to economic growth and international trade analysis.

45

 

3.0

 

Compulsory

Pre-Requisite to 202

ECO 103

THE NIGERIAN ECONOMY IN PERSPECTIVE

The Application of the economic principles discussed in Introductory Economics I and II to the Nigerian Economy. Emphasis will be on the interpretation of economic data

45

 

3.0

 

Required

Pre-Requisite to 203

ECO 104

INTRODUCTORY MATHEMATICS FOR ECONOMISTS I

The Use of Mathematics in Economics; Limitation and abuses of mathematics in Economics; Basic Concept in Mathematics; Sets, set inequalities and functions in economic solution of simultaneous equations; series and progressions; permutations and combinations; growth mathematics including logarithms and time rate of change; Coordinate geometry and basic trigonometry.

45

 

3.0

 

Compulsory

Pre-Requisite to 204

ECO 105

Arguments and Critical Thinking in Economics

Meaning and definition. Types of discourse. The nature of arguments. Validity; techniques for evaluating arguments. Inductive and deductive inferences. Illustrative arguments taken from typical texts in history, Law Reports, Newspapers etc. will be examined.

45

 

3.0

 

Required

Pre-Requisite to 205

ECO 201 

Introduction to Microeconomics: The Economic problem. The nature of economic science; methodology of economics. Elementary principles of microeconomics

45

 

3.0

ECO 101

Compulsory

Pre-Requisite to 301

ECO 202

 

Introduction to Macroeconomics

Elementary principles of macroeconomics; Basic national income models. Basic treatments of different theories of consumption and investment. Basic Multiplier acceleration principle. Classical – Keynesian models of employment, output and prices in closed and open economies. Introduction to capital theories of economic growth; Structural Adjustment programmes

45

 

3.0

ECO 102

Compulsory

Pre-Requisite to 301

ECO 203

APPLIED ECONOMICS

Application of Economic Principles to the developed and developing economies with special references to African economies

45

 

3.0

ECO 103

Required

Pre-Requisite to 303

ECO 204 

INTRODUCTORY MATHEMATICS FOR ECONOMISTS II Introduction to Calculus; Function of One variable; Limits and continuity; Techniques of differentiation, logarithmic, trigonometric, exponential functions etc. Application of these methods to Economics.

45

 

3.0

ECO 104

Compulsory

Pre-Requisite to 341

ECO 205

Introduction to Logic in Economics

A general introduction of Logic; Arguments, inductive and deductive. The notions of validity and soundness; logical constants. Logical and factual truths. Propositional calculus, techniques for evaluating arguments e.g. truth tables, formal proofs of validity: basic concepts of predicate logic. Syllogystic arguments

45

 

3.0

ECO 105

Required

 

ECO 301 

MICROECONOMICS I

Scope and methods of microeconomics; Economics model building: Partial and general equilibrium approach; Theory of Consumer behaviour; Indifference Approach. Topics in Consumer Demand;\ Market demand; Theory of Costs, market structure and pricing. Pricing and control under perfect competition, monopoly, monopolistic competition and under oligopoly; Theory of distribution; Input pricing and Employment Under Imperfect competition; general Equilibrium of Exchange and Economic Welfare

45

 

3.0

ECO 201 & 204

Compulsory

Pre-Requisite to 401

ECO 302 

MACROECONOMICS I

Review of basic concepts such as functions, static and dynamic equilibriums, endogenous and exogenous variables and measurement of economic activity; Basic models of income determination. Extensions from simple closed economy to a four-sector economy. Consumption and Investment functions. Elementary knowledge of money and goods market. Derivation of IS-LM diagrams. Basic Balance of trade and balance of payments.

45

 

3.0

ECO 202 & 204

Compulsory

Pre-Requisite to 402

ECO 303 

STRUCTURE OF THE NIGERIAN ECONOMY Growth of income employment and prices. The Conduct of regulatory agencies and their effects on different economic sectors Contribution of different economic sectors of the Nigerian economy to national output and relationship between these sectors. The peculiarity of the Agricultural and Oil and Gas sector to the Nigerian economy. Role of Financial sector, industrial sector, transport, international trade and politics to economic development of the country. Role of National Institutions

45

 

3.0

ECO 203

Required

ECO

304

STATISTICS FOR ECONOMISTS

This course is divided into two parts. The first gives students the necessary background in probability theory and statistics. Topics include definitions and axioms of probability, moments, some univariate distributions, the multivariate normal distribution, sampling distributions, introduction to asymptotic theory, Hypothesis testing and confidence interval: Probability and distribution theory; statistical inference. The second part introduces the linear regression model and develops associated tools. Correlation analysis as well as principles and properties of the ordinary least squares estimator will be studied in detail. This includes methods of ordinary least squares, variance of the OLS estimators, Hypothesis testing, confidence intervals and t ratios.

45

 

3.0

ECO 204

& FSS 204

Compulsory

Pre-Requisite to 401 & 402

ECO

305

PROJECT ANALYSIS I Definition and Classification of projects and project evaluation. Project planning and project cycle. Calculation of total investment required for a project. Evaluation of projects. Appraisal of projects from private and social viewpoints including financial appraisal, economic appraisal and social appraisal. Rates of Return; Economic and Social Profitability of projects. Cash-flow analysis. Preparation of feasibility study documents.

45

 

3.0

ECO 204

Required

Pre-Requisite to 405

ECO

306

RESEARCH METHODOLOGY   IN  ECONOMICS Types of research: quantitative versus qualitative research; Moral and ethical issues in research Components of the research proposal: Introduction; Background and Statement of the research problem; Objectives, Motivation/rationale; Scope of the study; Review of relevant literature: theoretical, methodological, and empirical reviews; Scope of the study; Models and hypotheses /theoretical framework; Research methodology; Expected results; References and Appendices;  Time allocation (Gantt chart) and Budgeting; Sources of Literature and search engines in economics: JSTOR, ECONLIT, Science direct etc.; Data Types and Data Management

 

45

 

3.0

ECO 201 & 202

Compulsory

Pre-Requisite to 403

ECO 311

INTRODUCTION TO ACCOUNTING

The outline, scope and purpose of accounting and basic financial statement, accounting concepts and conventions, double entry book-keeping and the ledger classifications, recording and summary of business transactions, the journal and columnar daybooks, the cashbook, bank transactions and bank reconciliation statement, the trial balance, suspense accounts and errors, self-balancing ledgers and control accounts, preparation and adjustment of final accounts, including trading, profit and loss accounts and balance sheets of sole traders, nature and causes of depreciation, methods of provision for depreciation and reserves, company accounts including issue and forfeiture of shares and final accounts, analysis and interpretation of financial statements including financial ratio analysis, cash flow statements, Single Entry bookkeeping and incomplete records, accounts of non-profit making organizations including receipts and payment, income and expenditure accounts, Manufacturing accounts, Introduction to social accounting.

45

 

3.0

ECO 201 & 202

Required

Pre-Requisite to 415 & 416

ECO 312

PRINCIPLES OF AUDITING More advanced treatment of the topics in ECO 311. Departmental and Branch accounting, partnership accounts, joint ventures and consignment accounts, hire purchase and instalmental payment accounts, treatment of tax in company accounts, group accounts including elements of consolidated final accounts, accounting for reorganization, reconstruction and combination of companies, contract accounts, design and use of accounting systems including mechanized and electronic data processing, current issues in financial accounting, limitations of accounting data, criticism of published accounting systems and the why of auditing.

45

 

3.0

ECO 201 & 202

Elective

Pre-Requisite to 415 & 416

ECO321

ECONOMIC DEVELOPMENT THEORY Basic concepts of Development and underdevelopment. Quantitative analysis of the growth of nations. Economics and non-economic factors in development experience. Survey of development theories from classical to modern times. Dualism. Unemployment and underemployment. Human resources. Capital formation, investment criteria. Technology, Trade and aid, institutions and development; value chain analysis; critical evaluation of conventional development thought

45

 

3.0

ECO 201, 202 & 203

Required

Pre-Requisite to 423

ECO

331

INTRODUCTION TO POLITICAL ECONOMY Introduction to the formal methods of political economy. Important applications such as social choice, interest groups and collective action, models of voting, elections and policy cycles, distributive politics, the political economy of economic reform, and economic and political integration. Distinguishing features of bourgeois method of analysis and the dialectical method. Historical materialism. Classification of social systems. Surplus value and Reproduction under capitalism and communism. Theory of imperialism and class struggle. Theory of bourgeois and socialist revolutions

45

 

3.0

ECO 202

Elective

Pre-Requisite to 432

ECO 341

MATHEMATICS FOR ECONOMICS

Set theory and Trigonometry. Linear Algebra:  Vectors, matrices; subspaces, ranks and determinants; eigenvalues, eigenvectors; symmetric matrices; quadratic forms.  Calculus: Function of several variables. Geometric interpretation. Implicit functions. Partial differential and total differentiation. Static Optimisation: Constrained and unconstrained optimisation. Maxima and minima; Langrangian multipliers. Approximations Taylor’s theorem. Integration – definite and indefinite integrals. Introduction to differential and difference equations. Sequence and series. integral calculus; linear equations – Cramer’s rule. Application of these concepts and techniques economics

45

 

3.0

ECO 204

Required

Pre-Requisite to 401 & 402

ECO

342

INTRODUCTION TO OPERATION RESEARCH

 Linear programming – formulation of LP problems and solution using the graphical method only. Transportation problem. Assignment problems. Inventory models – deterministic only. Network analysis. Critical Path Method (CPM) and programme Evaluation and Review Technique (PERT)

45

 

3.0

ECO 204

Elective

Pre-Requisite to 442

ECO 351

INTRODUCTION TO INTERNATIONAL ECONOMICS

Introduction to the theory of trade and international finance incorporating presentations of various theories of international trade. Foreign trade protection. Economic integration. Balance of payments. Foreign and capital inflows. The uses of international economics in explaining cotemporary international relations and diplomacy.

45

 

3.0

ECO 202

Elective

Pre-Requisite to 451

ECO 352

FUNDAMENTALS OF DEPOSIT INSURANCE Concept; financial safety net, Deposit Insurance system, mandate, powers and governance, membership and coverage, funding, bank failure/liquidation, financial stability institutions, cross border issues etc

45

 

3.0

ECO 202

Elective

Pre-Requisite to 462

ECO 361

MONETARY AND FINANCIAL INSTITUTIONS Money and is role in the economy. Growth of commercial bank in Nigeria and the development of financial institutions. Structure, performance and competition in the banking system. Other financial institutions, e.g. insurance companies. The West African Currency Board and the problems of domestic stabilization. Commercial banking and deposit. Central banking and the instrument of monetary policy. Money and capital markets and the effectiveness of intermediation and the effectiveness of monetary policy. International monetary systems, the IMF, and the World Bank, The African Development Bank (ADB)

 

45

 

3.0

ECO 201 & 202

Elective

Pre-Requisite to 461

ECO 362

MONETARY POLICY The theory of demand for money. Classical to Keynesian and post Keynesian. Interest elasticity of the demand for money. Simple money supply theory. The determination of the general equilibrium level of money stock. Is the money supply endogenously determined. Theory of inflation; problems associated with inflation. Theories of interest. Current issues in monetary theory.

45

 

3.0

ECO 202

Elective

Pre-Requisite to 461

ECO 371

INTRODUCTION TO PUBLIC SECTOR ECONOMICS Definition – Subject matter and methodology of public finance. The concept of the Public sector. Government budgeting and Accounting Federal Finance, Taxation. Public debt, fiscal policy. (Pre-requisite

45

 

3.0

ECO 202

Elective

Pre-Requisite to 471

ECO 381

HISTORY OF ECONOMIC THOUGHT I

The sociology of knowledge and economic thought – social environment and economic ideas. Comparative survey and the development of economic thought from the Bible to the mercantilism. Physiocrats thoughts and classical economics. The Marxian school

 

45

 

3.0

ECO 202

Required

Pre-Requisite to 481

ECO 385

PRINCIPLES OF ISLAMIC ECONOMICS AND FINANCE

 Islamic Economic value system, Demand and supply, Prices profits, Wealth, Income, labour theory of value, economics of labour, capital accumulation, Economic/business cycle, Financial plan Financial assets, Prohibition of interest, Trade, Partnership, Macroeconomics, growth, taxation and government role, money and interest, foreign trade

45

 

3.0

ECO 202

Elective

Pre-Requisite to 485

ECO 391

ECONOMICS OF HUMAN RESOURCES

 Concepts Human and Physical resources in production. Human capital, returns to investment in human capital.  Introductory resource management review and application of resources allocation theory to the problem of investment in human capital.  Investment in human capital-choice between capital investment and in physical capital, the process of human capital accumulations, determinants of human capital accumulation.  Investment in education-social and private costs and returns to education.  Benefit-cost approach to investment decisions in education.  Manpower planning and the relationship between Manpower planning and the unemployment of the educated rural-urban migration and urban employment as special problems in Nigeria.

45

 

3.0

ECO 201 & 202

Elective

Pre-Requisite to 491

ECO 393

INTRODUCTION TO INDUSTRIAL ECONOMICS

Nature and scope of Industrial Economics. Motivation of the firm, Profit concept and measurement structure of business-enterprise. Major functions of management. Business decision and environmental factors. Major functional areas of business. Consumer motivation and behaviour. Marketing functions and institutions. Nature and market for consumer and capital goods. Selection and evaluation of distribution channels.  Marketing Research and Demand Analysis. Economic Theory in relation to Management.

45

 

3.0

ECO 201

Elective

Pre-Requisite to 486 & 487

ECO 401

MICROECONOMICS II

Statics, Comparative static and dynamics. Utility functions and indifference curves. Constrained utility maximization. Applications of consumer theory – rationing work and leisure etc. cost and production functions, optimisation in the theory of the firm. Duopoly, oligopoly and bilateral monopoly. Linear programming analysis of the firm. Introductory general equilibrium of theory of production – comparative cost, gains from exchange. Social and private cost/benefits. Theory of distribution wages, rent profit and interest. Social welfare function and Pareto optimum

45

 

3.0

 

Compulsory

ECO 402

MACROECONOMICS II

 Review of basic facts about macroeconomic issues and national income accounting. Short run: The goods Market including demand for Determination of Equilibrium output and Financial markets including determination of interest rate and equilibrium in the financial market. The IS-LM model and the effect of monetary and fiscal policy on output and interest rate. The Labour Market; wage determination, price determination and the natural rate of unemployment; The Aggregate Supply and Aggregate Demand Model. The natural rate of unemployment and the Phillips curve. Inflation Activity and Nominal money growth. Savings, Capital Accumulation and output; Technological progress and growth. The Open Economy: Openness in Goods and Financial Markets; Exchange Rate Regimes. The Importance of Policy in Macroeconomics: Monetary Policy, Fiscal Policy and Policy mix. (Pre-requisite:

45

 

3.0

ECO 301 & 341

Compulsory

ECO 403

ORIGINAL ESSAY An essay on one topics, selected from a list covering specialized areas of the economics discipline or dealing with significant current economic problems.

45

 

3.0

ECO 301, 302 & 305

Compulsory

ECO404

QUANTITATIVE ANALYSIS.  This course is divided into mathematical economics and econometrics. Mathematical Economics: Review of Ordinary differential equations; systems of ordinary differential equations; difference equations; systems of differences equations. Comprehensive treatment of Dynamic Optimisation:  Calculus of variation; optimal control theory. The Classical Linear Regression Model; hypothesis testing; violation of Gaussian and normality assumptions; functional form; additional estimators; Analysis of variance (ANOVA) and Analysis of Covariance (ANCOVA) Standard Assumption about the Error Term and Correlation of problems created by them. Systems of equations; limited dependent variables; time series econometrics

45

 

3.0

ECO 305

Required

ECO 405

PROJECT ANALYSIS II: Case Study:

45

 

3.0

ECO 304

Compulsory

ECO 406

HISTORY OF ECONOMIC THOUGHT II: Positive and welfare economics. Institutionalism and the Keynesian school. Contemporary development in economics and prospects for the future. African economic thought and the challenge of Third World development.

45

 

3.0

ECO 381

Required

ECO 415

CORPORATE FINANCE This course is aimed at building a deeper understanding of corporate financial decision making in the modern corporation. It examines the fundamental question in finance i.e., how do companies make profitable financial decisions using financial theories put forward by different scholars?. The course also deals with controversies regarding what businesses do in order to maximize firm value. The basic issues include: forms of business organization, the role, functions and organization of functional management, Corporate sources and uses of Funding, Long term credit granting institutions including Nigeria industrial development bank, Stock Exchange and the new issue market, securities and exchange commission, introduction to capital budgeting/ corporate investment, capital structure, the Cost of Capital, determinants and implications of dividend policy, working capital management, Corporate finance and Portfolio principles, Leasing, bankruptcy and financial distress, merger and acquisition, some current problems and issues

 

45

 

3.0

ECO311 & 312

Elective

ECO 416

ACCOUNTING FOR ECONOMIC DECISION MAKING

The course set out to establish the link between economics and accounting. The objective of this course is to introduce students to the basic concepts of managerial accounting, including cost accounting, financial planning, control and decision-making. The basic issues include: Nature, scope and function of management accounting, cost concept and analysis for managerial decisions, cost volume profit (CVP) analysis, elements of cost accounting for control in a divisionalised organization, managerial aspects of budgeting, the master budget and its problems, variance analysis and cost analysis for control and standard cost accounting, including performance appraisal and evaluation of cost control systems, capital asset selection and capital budgeting, responsibility accounting and transfer pricing in decentralized operations, the balanced scorecard. Some current problems and issues.

45

 

3.0

ECO 311 & 312

Elective

ECO 423

DEVELOPMENT ECONOMICS The nature, scope and goals of development; historical perspectives and theories of growth and development; development as freedom; fertility and population; labour market; migration; credit markets, risks and insurance; land markets; inter-linkage in rural markets; human and physical capital accumulation and capital flight; Poverty, corruption, distributive conflicts and development. International trade, external debt and development. Impact of globalization on development.

45

 

3.0

ECO 321

Elective

ECO 425

ENVIRONMENTAL AND RESOURCE ECONOMICS Environment and the economy; definition, concepts, overview of environment, environmental quality and sustainable development; Valuing the environment including fairness and time in environmental issues; Environmental policy and instrument and the design implementation and importance of environmental impact assessment; Property rights and the tragedy of the commons; strategies of sustainable development. Issues including environment and poverty; environment and trade; biodiversity, global warming ozone depletion and international environmental agreements.

45

 

3.0

ECO 321

Elective

ECO 432

THE POLITICAL ECONOMY OF INSTITUTIONS

 Concept and nature of Institutions; social, political and economic institutions.; government vs. nongovernmental institutions; formal vs. informal institutions, financial vs. non financial institutions etc.; Character and performance of institutions; Importance of civic community, cultural values, ethnic and political conflicts to institutional performance; Institution and Economic and political Reform process in developing Countries; The political Economy of Bretton Woods Institutions and Developing Countries; Politics of institutional behaviour including enforcement of property rights, incentive structure, rent seeking behaviour and corruption.

45

 

3.0

ECO 331

Elective

ECO 433

COMPARATIVE ECONOMIC SYSTEMS

 Classification of economic systems. Communalism, slavery, feudalism, capitalism, socialism, communism. Capitalism- values and goals – the market system- consumption and investment decisions. Prices and labour policies- public finance. Money and international trade. Britain, USA, Japan- values and goal. The planned economy and collective ownership. Socialist pricing and planning of consumption and investment. Labour policies and public finance. money, international trade. Economics and problems of socialism. USSR, China, Tanzania. Communism- transition from socialism to communism. The Third World System in Transition features of underdeveloped countries. Structural Adjustment Programmes deregulation vs. Regulation. The Economics of Newly Industrialized Countries Principles of Islamic Economics

45

 

3.0

ECO 331

Elective

ECO 442

OPERATIONS RESEARCH Linear programming: simplex method. Non linear programming. Game theory. Queuing models. Theory of Stochastic processes. Markov simulation

45

 

3.0

ECO 342

Elective

ECO 443

ECONOMETRICS

Meaning and scope of econometrics. Regression model; simple; linear; and multiple regressions. Methods of estimation. Ordinary least squares, Indirect least squares, two stage least squares. Presentation and interpretation. Simultaneous equation systems.). Estimation problems. Choice of techniques. Equation of parameter estimates. Simulation. Forecasting and the test of forecasting ability. Aspects of variable relationships including time as regressors, transformation of variables, lagged dependent variables, stationary and non-stationary variables and dummy variables. Introduction to time series modelling; Multiple Equation models.

45

 

3.0

ECO 304 & 341

Required

ECO 451

THEORY INTERNATIONAL FINANCE

Classical and Heckscher-Ohlin-Samuelson theorems of international trade, trade offer curves and terms of trade theories of tariffs, theories of economic integration, effect of growth on trade. Introduction to Trade Agreements, GATT, GATS and WTO

45

 

3.0

ECO 351

Elective

ECO 452

INTERNATIONAL FINANCE 

Balance of payments theories and policy, models of international monetary organization, foreign trade multiplier, exchange rate flexibility, monetary integration, internal and external balance, the foreign exchange market, role of the international reserves and reforms of international monetary system.

45

 

3.0

ECO 351

Elective

ECO 461

MONETARY THEORY AND POLICIES 

More on the theory of demand and the supply of money. Empirical results. Multiplier, high-powered money controllability of the money supply concept. Cambridge (Quantity) and Keynesian monetary theory and after. The recent developments in the Keynesian approach. The transmission mechanism of monetary and fiscal actions. Economic policy issues: the effectiveness of monetary policy. The real balance effect. Rules versus authorities in stabilization policy. Policy lags; Monetary instruments and goals. Concepts of trade off. Policy co-ordination. Growth as an objective of economic policy. Monetary and real sectors considered together. Economic policies in open economies. Capital mobility and stabilization policies. International adjustment and liquidity

45

 

3.0

ECO 361

Elective

ECO 462

PRACTICE OF DEPOSITI INSURANCE SYSTEM 

Establishment, Design and structure of the NDIC, its Legal framework, NDIC Coverage of DIS, Funding/Fund Management NDIC ad Bank Supervisor, Failure Resolution options of NDIC.  NDIC Stakeholder Collaboration, compliance with IADI Core Principles Deposit Insurance practice in other jurisdictions

45

 

3.0

ECO 352

Elective

ECO 471

PUBLIC SECTOR ECONOMICS

Theory of public sector. Pricing, investment and financing of public sector enterprises. The public sector and economic development

45

 

3.0

ECO 371

Elective

ECO 472

FISCAL POLICY

The nature of fiscal policy; meaning, goals, measurement and assessment. The theories of fiscal policy, Techniques of fiscal policy; fiscal policy and economic development; Limitations of fiscal policy

45

 

3.0

ECO 371

Elective

ECO 483

DEVELOPMENTS IN THE GLOBAL ECONOMY

 Trends, Forces, Game Changes and Changers, Paths of the global economy, paths of different economies in the Americas, Europe, Asia and Africa; Nigeria. Specifically, Industrial revolution and Industrialization and economic growth in different parts of the world.  Structural changes in the world economy. Overseas expansion and imperialism, Neocolonisation, The Great Depression and Great Moderation, Structural changes in Soviet Union

45

 

3.0

ECO 302 & 321

Elective

ECO 485

ISSUES IN ISLAMIC ECONOMICS AND FINANCE

 Issues of Interest, Zakat, Population, Finance Mudaraba, Muharasha, Economic Planning, poverty, household economics: family size and poverty, interest and Economic/business cycle, Financial plan and Financial assets, Insurance, Sukuk bonds, Partnership and profit sharing, Macroeconomics, growth, taxation and government role, money and interest, foreign trade, etc

45

 

3.0

ECO 383

Elective

ECO 486

INDUSTRIAL ECONOMICS

 Evolution of industrial organization theory. Role of industry. Concepts of market, competition and monopoly. Elements of market structure. Concentration. Scale Economies and capital requirements. Barriers to Entry. Oligopoly behaviour and Pricing Theory. Collusion and cartels. Product Differentiation and Advertising. Productivity and Efficiency. Dimensions of Industrial Performance

45

 

3.0

ECO 381

Elective

ECO 487

ISSUES IN INDUSTRIAL ECONOMICS

Industry Structure in Africa. Global Trends in Industrial Structure. Industrial Development Strategy. Integration, diversification and merger. Innovation, Research and Development. Ownership Structure. Strategic Trade Policy. Analysis of Industrial Policy. Regulation.

45

 

3.0

ECO 393

Elective

ECO 491

LABOUR ECONOMICS

 Labour terms and Concepts; The Labour market. The determinants of Demand for labour and supply of labour. Wage theories and wage administration. Labour policy, Institutions and Legislation, Organization theories and structures. The scope of industrial relation system. Development of trade unionism. Collective bargaining and joint consultation legal aspects of industrial relations. Problems of trade, urban organization with particular reference to Nigeria.

45

 

3.0

ECO 391

Elective

ECO 492

ISSUES IN HUMAN CAPITAL DEVELOPMENT

Microeconomic analysis of household behaviour in low-income societies emphasizing the economic determinants of Education, health and nutrition and the evaluation of policy. The relationship among health, nutrition, fertility, savings, schooling, labour productivity, wage determination, and gender-based inequality. Emphasizes theoretically based empirical research. Economic Analysis of Pension and Social Security

45

 

3.0

ECO 391

Elective

 

POSTGRADUATE COURSES

 

 

Course Code

Course Title/Contents (Course description/synopsis

A

B

C

D

E

F

ECO 701

PROJECT (M.Sc.)

A supervised non-instructional course aimed at giving students the opportunity to produce research papers on subjects of their own

 

-

-

-

-

M.Sc. course work & Eco 702, 709

Compul-

sory

ECO 702

RESEARCH SEMINAR I

Is to provide a forum for all graduate students to make seminar presentations on recent developments in the literature, preliminary reports on research proposal and report on going or completed graduate research.

 

-

-

-

-

-

Compul-

sory for all MBA

M.Sc.

M.Phil/

Ph.D.

Students

ECO 711

MICROECONOMICS I

This course is intended as an introduction advanced micro-economic theory: the first part of the course, theory of consumer behaviour, will include the usual topics: Economics methodology and consumer theory under certainty:  inter – temporal behaviour.  The second part production economic theory of production under certainty and uncertainty etc.

 

-

-

-

-

-

Compul-

sory for

all MBA

M.Sc.

M.Phil/

Ph.D.

Students

ECO 712

MACROECONOMIC THEORY I

This is an introductory course in advanced macro-economic theory covering such topics as methodology of macroeconomics statics comparative statics and dynamics

 

-

-

-

-

ECO 402 or

instruc-

tions

consent

Compul-

sory

ECO 713

INTRODUCTION TO ECONOMETRICS

The course will cover some of the basic analytical techniques.  In Econometrics, emphasizing the General linear model estimation and evaluation techniques and the problems with them in application.  The course will aim at the minimum exposure required for basic empirical research

30

-

3

-

-

Compul-

sory

ECO 714

MONETARY ECONOMICS

Some general topics in advanced monetary economics are introduced, for example:  Classical & Neo Classical theory; Demand for and supply of money, monetary policy.  Monetarism and Keynesianism etc.

30

-

3

-

ECO 702 or instruc-

tor consent

Elective

ECO 715

DEVELOPMENT ECONOMICS

Problem economic development:  patterns of development and dualism; Investment allocation problem;  Optimal Capital accumulation and development; International trade and the development process; Planning for economic development

30

-

3

-

-

Elective

ECO 716

PUBLIC SECTOR ECONOMICS

Introduction to Public Sector.  Economics covering welfare economics.  Public goods theory, public investment decision (Cost/benefit analysis).  Fiscal Policy and taxation.  (Macro-economic analysis of fiscal policy, economic stabilization & Growth.  Forms & Effects of taxation etc).

30

-

3

-

ECO 711, 712 or equiva-

lent

Elective

ECO 717

INTERNATIONAL ECONOMICS  I

Introduction to the major developments in the field without delving into the empirical literature.  The topics to be treated will include: introduction to the pure theory of international trade factor price equalization, trade and growth, commercial policy and economic integration.  

30

-

3

-

ECO 711, 712 or equiva-

lent

Elective

ECO 718

ECONOMIC PLANNING

Topics to be covered will include the planning problem, types of economic planning, planning techniques (input- out, linear programming) Project evaluation, sectoral and multi-sectoral and multisectoral planning model.

30

-

3

-

ECO 711, 712 or

equiva-

lent

Elective

ECO 719

MATHEMATICAL ECONOMICS I

Topics will include static optimization theory in economics. classical calculus methods, Linear non-Linear programming Dynamic optimization theory. calculus of variations. Control theory, dynamic programming. Some applications.

30

-

3

-

ECO 711, or instruc-

tors consent

Elective

ECO 720

OPERATIONS RESEARCH I

Linear programming. Basic properties of linear programmes; simplex algorithm, (standard and revision) Transportation problem large mathematical programmes. Decomposition integral programming. Other types of programming techniques such as convex and geometric programming and other topics as may be determined by the instructor.

30

-

3

-

Instruc-

tors consent

Elective

ECO721

ECONOMETRIC THEORY I

Theory of Distribution, classical linear Regression model, Extensions of the General linear model, advance topics including distributed lags, and multiple choice models.

30

-

3

-

Instruc-

tors consent

Elective

ECO722

 

ACCOUNTING & FINANCE

Selected topics in Accounting and finance to be determined by instructor.

30

-

3

-

Instruc-

tors consent

Elective

ECO 723

PETROLEUM & ENERGY ECONOMICS

Theoretical issues in the economics of world energy demand and  supply; petroleum in the international energy economy; economics of crude oil production, cost, refining, transportation. The political economy of oil. OPEC and

the world; oil Industry and OPEC;

Petroleum & Energy in the

Nigerian economy.

30

-

3

-

-

Elective

ECO 724

HEALTH ECONOMICS

Introduction -scope and significance of Health economics, health and Economic Development-interaction between health and economic development: health indices; demographic and epidemiological transitions; microeconomic applications in health-demand for health services –medical markets; determinants of demand for health services, production of health -cost of health services. Economic Evaluation of health care programmes -cost-analysis; cost-benefit analysis; cost-effectiveness analysis; cost-utility analysis 30 and Economic Development-interaction between health and economic development: health indices; demographic and epidemiological transitions; microeconomic applications in health-demand for health services -medical markets; determinants of demand for health services, production of

health-cost of health services.

Economic Evaluation of health

care programmes-cost-analysis;

cost -benefit analysis; cost-effectiveness

30

-

3

-

-

Elective

ECO751

MICRO-ECONOMIC THEORY II

Welfare Economics, General Equilibrium models; other advanced topics

30

-

3

-

Eco 711

Compul-

sory

ECO752

 

 

MACRO-ECONOMIC THEORY II

Growth theory, macro-dynamic, disequilibrium models, business cycles and stabilization theory other advanced topics

30

-

3

-

Eco 712

Compul-

sory

ECO 753

ECONOMETRIC THEORY II

Multi-Equation models, simultaneous, equation estimation, simulation models, Dynamics behaviour of simulation model; Time series models

 

30

-

3

-

Eco 721

Elective

ECO 757

INTERNATIONAL ECONOMICS II

International finance, balance of payments theory, international monetary system and institutions the new world economic order and related topics

 

30

-

3

-

Eco 711

Elective

ECO 759

MATHEMATICAL ECONOMICS II

Theory of Competitive markets, Existence & Stability Analysis, optimal growth models Game theory, Differential Games.  Other advanced topics

 

30

-

3

-

Eco 719 or Elective

Instruc-

tors consent

Elective

ECO 760

OPERATIONS RESEARCH II

Non-linear and Dynamic programming techniques, various algorithms, selected current topics in Mathematical programming and additional topic as to be determined by instructor

30

-

3

-

Eco 720 or Instruc-

tors consent

Elective

ECO 799

RESEARCH SEMINAR II

Second semester continuation of Eco 702

30

-

3

-

Instruc-

tor

Compul-

sory for

all M.Sc./

M.Phil/

Ph.D.

Students

ECO 800

READING COURSES AND SEMINAR

Courses can be arranged for the treatment of advance topics in any of the fields, or other popular demand depending on the availability of staff.

30

-

3

-

-

Compul-

sory for

All M.Sc.